The Glenn Beck Program - A 'Kind' Greatness？｜ Guests： Steve Deace & Gavin McInnes

00:00:00.000 The Blaze Radio Network, on demand.

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00:01:07.540 Glenn Beck.

00:01:10.320 Yesterday, the first funeral for George H.W. Bush

00:01:19.060 happened in the National Cathedral.

00:01:22.700 And it was everything you think a Bush funeral should be like or would be like.

00:01:30.260 There were no snarky comments except from the press.

00:01:33.800 There was no lecturing anyone on politics.

00:01:37.560 It was just truly humble retelling of a man's life.

00:01:44.220 It was, it was kind.

00:01:52.160 It was decent.

00:01:54.400 It was normal.

00:01:56.000 The press immediately jumped into, oh, did you see how Hillary Clinton and Trump, Trump behaved like, can you shut up?

00:02:07.720 Sincerely, shut up.

00:02:09.720 Here's a guy, George W. Bush, who I think is liked by every single president.

00:02:20.600 All of them like George W. Bush.

00:02:23.500 Here's a guy who had reason to hate Donald Trump.

00:02:30.840 Didn't say anything.

00:02:32.260 Was polite.

00:02:33.380 Was kind.

00:02:35.400 Who has, has reason to hate the Obamas.

00:02:38.960 Because, look at what they did to him.

00:02:41.660 They just trashed him for four years.

00:02:44.140 It's the Bush economy.

00:02:45.200 Well, if Bush hadn't have screwed it up so much, he never responded.

00:02:49.020 In fact, yesterday, he brought Michelle Obama candy.

00:02:55.420 Because the last time they were at a funeral, he did it.

00:02:59.120 And they've become friends.

00:03:00.620 Because, as he was describing his, his father yesterday, he talked about who he was.

00:03:20.740 He said, my dad knew how to die young.

00:03:25.060 Probably because twice in his life, he almost did.

00:03:29.040 And he said, I think those brushes with death made him cherish the gift of life.

00:03:33.600 And he vowed to live every day to the fullest.

00:03:37.040 Dad was always busy in constant motion.

00:03:39.180 But never too busy to share his love of life with those around him.

00:03:43.220 He taught us to love the outdoors.

00:03:46.120 He loved watching dogs.

00:03:48.020 He loved landing the elusive striper.

00:03:52.220 Once confined to a wheelchair, he seemed happiness sitting on his favorite perch

00:03:56.100 in the back porch at Walker's Point.

00:03:57.700 Contemplating the majesty of the Atlantic.

00:04:01.160 The horizons he saw were bright and hopeful.

00:04:04.380 He was genuinely an optimistic man.

00:04:06.800 And that optimism guided his children and made each of us believe that anything was possible.

00:04:13.520 How many of us are doing that with our children now?

00:04:15.620 He talked about his service to the nation.

00:04:25.920 He talked about how he didn't judge people.

00:04:31.680 Dad could relate to people from all walks of life.

00:04:34.760 He was an empathetic man.

00:04:36.560 He valued character over pedigree.

00:04:39.040 And he wasn't a cynic.

00:04:40.360 He looked for the good in each person and usually found it.

00:04:44.620 Dad taught us that public service was noble and necessary.

00:04:47.360 That one could serve with integrity and hold true to the important values like faith and family.

00:04:52.900 He strongly believed it was important to give back to the community and the country in which one lived.

00:04:58.440 He recognized that serving others enriched a giver's soul.

00:05:03.460 To us, he was the brightest of a thousand points of life.

00:05:07.480 When he lost, he shouldered the blame.

00:05:10.400 He accepted that failure is a part of living a full life.

00:05:14.240 But he taught us never to be defined by failure.

00:05:16.820 He showed us how setbacks can strengthen.

00:05:18.840 He went on to describe, and I urge you to read this eulogy, or to go back and listen to it again.

00:05:29.540 If you didn't hear it the first time, go back and listen.

00:05:34.180 He's describing what a man should be.

00:05:40.360 And you don't hear that anymore.

00:05:44.460 Andrew Heaton is in today.

00:05:47.460 Andrew Heaton has a new podcast called Something's Off with Andrew Heaton.

00:05:53.020 There's a story from Vancouver that traditional masculine values are being ditched by millennial men.

00:06:04.940 Can you tell me, as a millennial, what are traditional male values?

00:06:09.980 I'm not sure.

00:06:10.760 I mean, first of all, keep in mind this is Canada.

00:06:13.540 I'm looking at this, and it's from Vancouver.

00:06:15.480 It says young Canadian men, and I highlighted that.

00:06:18.440 Men seem to be holding masculine values that are distinctly different from those of previous generations.

00:06:23.160 Some of the, you know, I haven't read the report, but I'm reading through the synopsis of it.

00:06:27.240 Some of it makes sense to me.

00:06:28.320 Some of it I'm not sure of.

00:06:29.660 There seems to be this kind of shift in emphasis from physical strength to health, which is good on my end,

00:06:34.800 because I would much rather try and pick up a woman at a bar based on my, you know, my metabolism than stuff I could lift.

00:06:43.680 So that's good on that end.

00:06:46.060 Yeah.

00:06:46.160 You know, I don't know that it's so much that we're actually altering what it is to be a male so far as it's just sort of bad to think about it.

00:06:57.920 I do think there's some of that going on right now where it's, you know, I've mentioned before on your show that I moved here from New York.

00:07:04.140 And one of the things that was interesting to me about that experience was I didn't go into New York thinking of myself as a white male.

00:07:12.960 I am.

00:07:13.700 I mean, I'm demographically a white male, but it just wasn't important to me.

00:07:16.900 I didn't notice.

00:07:17.700 Yeah.

00:07:17.800 I am.

00:07:18.860 For those of you listening that can't see me, I am a storm of mayonnaise.

00:07:22.840 You're it's it's it's I'm I mean, I'm literally wearing tartan truce right now.

00:07:28.280 It's uncomfortable.

00:07:29.560 Yeah.

00:07:29.740 It's I've got a pocket square on there's but that wasn't part of my identity.

00:07:34.720 You know, if you'd asked me when I came into New York, I'd say I'm a comedian.

00:07:37.260 I'd you know, I talk about politics.

00:07:38.500 And by the time I left that it kind of been hammered into me.

00:07:40.700 And it's not it's not necessarily good that you're a white male.

00:07:43.380 Yeah.

00:07:43.900 And they hammer that into you.

00:07:45.360 It's brought up a lot.

00:07:46.500 I like or if we'll say, for example, if I have a contrary opinion, that's something that it's like, well, you know, you are coming from a position of privilege and which is a way of saying you say I'm from Oklahoma.

00:07:58.420 There's no privilege at all in that.

00:08:00.840 Yeah, that which there to like I think.

00:08:04.140 You know, the phrase multivariate analysis comes to mind.

00:08:06.580 I dated a young lady in New York who she's from Oklahoma as well.

00:08:10.400 And she's from Coweta.

00:08:12.600 Shout out to Coweta.

00:08:13.800 But like while we were dating, she could not call her dad.

00:08:16.180 Her dad doesn't own a phone.

00:08:17.260 He doesn't.

00:08:17.640 He's that poor.

00:08:19.140 And this is this is two years ago, three years ago, but he doesn't own a phone.

00:08:22.360 And if she needs to get a hold of him, she has to call her neighbor or write him a letter.

00:08:27.060 And I think like that.

00:08:28.140 I don't feel like it's fair to lump that guy into the same category as I am.

00:08:31.880 It's not fair to lump us in the same category of like a hedge fund manager.

00:08:34.860 When my sister moved to Wyoming, she used to have to go to a phone pole about five miles away from her house.

00:08:44.560 She didn't have a phone.

00:08:45.360 She was too poor to put a phone in.

00:08:47.840 And she had to drive to a phone pole.

00:08:50.920 And she would stand sometimes, you know, hip deep to call and say, hey, Merry Christmas.

00:08:56.240 We thought, you know, we're like, move back to civilization.

00:09:00.480 But I mean, is that privilege?

00:09:03.760 Is that privilege?

00:09:05.780 I think in general, whenever your instinct is to engage with people by negating their ability to make an argument, it's a bad thing.

00:09:13.700 You know, it's it's one thing to go.

00:09:15.740 I think that you're wrong.

00:09:17.380 It's another thing to say you are just forbidden to venture outside of what I believe is the proper narrative.

00:09:23.760 So did you hear George W. Bush's eulogy?

00:09:28.460 Most of it.

00:09:29.200 Most of it.

00:09:30.060 So I urge you to go back and listen to it.

00:09:32.900 Tell me that that isn't something that we would all say.

00:09:38.660 I want to be like that.

00:09:39.980 Yeah.

00:09:40.540 That guy was a paragon.

00:09:42.140 He really was.

00:09:43.600 The photo, I'm sure it's been making the rounds, but the photo that I thought was very touching was and he's so quiet about it.

00:09:50.120 George H.W. Bush was a guy who really didn't like political theater.

00:09:54.060 He was raised by his mother to not use the pronoun I very often.

00:09:57.640 But I think in his 80s, there's this great photo of him completely bald because one of the secret servicemen, his son, I think, had got leukemia.

00:10:06.360 And so all the secret servicemen shaved their heads in support.

00:10:09.060 And George H.W. Bush just did it.

00:10:11.220 And, like, you know, it wasn't like a huge national story.

00:10:13.860 It did make the rounds a little bit, but it wasn't like he did a press conference.

00:10:16.360 It's just he wanted to be supportive of this kid.

00:10:18.340 And I think that kind of, you know, that deep character that was very much concerned with people around him rather than adulation.

00:10:28.400 Bringing candy to Michelle Obama.

00:10:31.820 Oh, I thought that was cute.

00:10:33.160 That was George W. Bush there, right?

00:10:34.820 Yeah.

00:10:35.240 Yeah.

00:10:35.560 But if that isn't his dad.

00:10:37.400 I mean, he was thinking about her.

00:10:39.700 You imagine how hard it is to have a funeral that goes on and on and on and on and on.

00:10:47.360 He George H.W. Bush died.

00:10:50.820 They put him in a coffin.

00:10:52.840 They fly Air Force One down.

00:10:55.160 They put him in the back.

00:10:56.700 The whole family gets on board.

00:10:58.420 They have a big ceremony in the laying in state in the rotunda of the Capitol.

00:11:04.060 Then they have a giant parade to go to the National Cathedral.

00:11:12.060 He has to give a eulogy.

00:11:13.700 Then they take the body after like the third 21 cannon salute.

00:11:19.880 They put him back on Air Force One.

00:11:22.620 They fly to Houston where they're going to have a parade and then another funeral.

00:11:28.900 Well, I so hope that in the middle of all of this, George W. Bush went, hey, I need to stop it.

00:11:34.660 Quick trip.

00:11:35.480 And like ran in and was like, you guys got Snickers?

00:11:37.640 Like bought it for Michelle Obama.

00:11:39.760 That would be the most bizarre thing for the guy running that.

00:11:43.980 I mean, how great is that?

00:11:45.680 Can you imagine, seriously, thinking about burying your father who you were close to and having to go just through that?

00:11:53.720 And yesterday, do you have the clip, Sarah, just of the last part of his eulogy?

00:12:00.600 Play this.

00:12:01.860 In his inaugural address, the 41st president of the United States said this.

00:12:07.380 We cannot hope only to leave our children a bigger car, a bigger bank account.

00:12:12.940 We must hope to give them a sense of what it means to be a loyal friend, a loving parent, a citizen who leaves his home, his neighborhood and town better than he found it.

00:12:24.380 What do we want the men and women who work with us to say when we are no longer there?

00:12:30.100 That we were more driven to succeed than anyone around us?

00:12:33.980 Or that we stopped to ask if a sick child had gotten better and stayed a moment there to trade a word of friendship?

00:12:42.500 Well, Dad, we're going to remember you for exactly that and much more.

00:12:47.080 And we're going to miss you.

00:12:48.000 Your decency, sincerity and kind soul will stay with us forever.

00:12:53.880 So through our tears, let us know the blessings of knowing and loving you, a great and noble man.

00:13:01.020 The best father, a son or daughter could have.

00:13:05.740 Oh, gosh.

00:13:07.240 And in our grief, let us smile knowing that Dad is hugging Robin and holding Mom's hand again.

00:13:14.820 Here's a guy who has put on a strong face all week and been lifting other people up.

00:13:26.760 I don't know if you saw yesterday when he was accompanying the casket and everything else.

00:13:31.920 But it dawned on me yesterday the last time I saw him look like that.

00:13:38.280 He had this he had almost like a frown, but he was biting his his lip.

00:13:43.780 And you could tell that he wasn't I mean, he was engaged and he was trying to hold it together.

00:13:48.560 And I realized yesterday as the as they were doing another 21, you know, cannon salute.

00:13:56.100 And I watched him and I realized I haven't seen that face on George.

00:14:02.220 I've only seen it once one other time.

00:14:03.760 And it's when they whispered in his ear, we're under attack.

00:14:08.120 Remember, he sat there and he kind of frowned and he bit his lip.

00:14:11.540 That guy was working hard to hold it together all day and one crack there.

00:14:18.840 I think it's a lot of the time when we look at this kind of stuff, we we almost dehumanize the people in it.

00:14:26.760 You know, it's ultimately that's his dad that died, which is really sad for him, regardless of the political connections, regard like it's not.

00:14:33.600 George W. Bush is in that capacity, not there as a former president.

00:14:37.820 He is.

00:14:38.280 But that's really incidental and secondary.

00:14:39.600 I'm glad that they did.

00:14:40.660 I mean, they did a secondary funeral in Houston.

00:14:43.220 Yeah.

00:14:43.920 Or I guess a college station at the George H.W. Bush Library.

00:14:47.480 And I'm really glad they did, because that's got to be it's got to be very tough to have to put on that that that level of public facing decorum when you're burning up inside.

00:14:59.000 And here he is doing a job as a son and a former president of honoring his father the way his father and mother would have been proud instead of instead of wallowing in his own grief.

00:15:16.820 I just I find this family remarkable.

00:15:22.140 Do you out of curiosity?

00:15:24.420 What do you think George H.W. Bush is going to be remembered for?

00:15:27.720 Like, I think probably the Cold War and character.

00:15:31.440 I think those are the two things that are going to really stand out.

00:15:33.980 Yeah, I think so.

00:15:34.780 And his son will be remembering, you know, George W. Bush said to me, I'm prepared to be the most hated man on the planet for the next 50 years.

00:15:44.620 Well, good news there.

00:15:46.300 That is that has been eclipsed.

00:15:48.240 You're safe, sir.

00:15:49.220 Yeah.

00:15:50.140 He said, I'm I'm prepared.

00:15:51.840 He said, because I know that in 50 years from now, they're going to look back and realize this is they did what they had to do.

00:16:00.780 They did the only thing they could do.

00:16:04.880 And he said, I'm I'm confident that history will remember.

00:16:09.320 And, you know, George H.W. Bush, I think history will remember the guy.

00:16:13.940 You know, when Clinton came in, they started changing a lot of a lot of policies in the Middle East.

00:16:20.100 I'm sorry, not in the Middle East, in the Soviet bloc.

00:16:23.460 And George Bush, that was not something we didn't even really think about that.

00:16:28.520 No.

00:16:28.620 And that's to his great testament.

00:16:29.960 Like I mentioned this.

00:16:31.140 I did kind of a postmortem of the Bush administration on my podcast earlier this week.

00:16:36.960 And I mentioned that that when you think about the collapse of the Cold War, you don't tend to think about it.

00:16:40.360 We think about the fall of the Berlin Wall, but we don't really think about anything else.

00:16:44.000 And that's to the great testament of George Bush that it wasn't a bit.

00:16:47.940 It could have been terrible.

00:16:48.840 That could have gone off the rails.

00:16:49.720 That's a nuclear empire, a nuclear empire disintegrating.

00:16:53.720 And that could have gone real bad real quick.

00:16:55.760 And what's amazing is not only do you not think about it, you also don't think about him.

00:17:01.960 Yeah.

00:17:02.440 Until you stop and go, wait a minute, wait a minute.

00:17:04.760 What was that like?

00:17:05.900 Then you realize, oh, my gosh, he managed that thing.

00:17:08.940 That's truly his kindness first, the managing of the collapse of the Soviet Union, a distant second.

00:17:20.120 And I think that's exactly how he would want it to be.

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00:18:57.360 You know, I didn't I didn't recall until this week the role that George H.W.

00:19:03.680 Bush played in in my life.

00:19:05.680 In April of 1988, it was my daughter was being born and he had just run for president or was running for president in 88 in April.

00:19:21.440 And I think it was on 60 Minutes and he talked about Robin and it was the first time I I heard him.

00:19:29.720 And he he spoke about the sanctity of life.

00:19:36.960 And my daughter had just been born and I remember watching I think it was 60 Minutes and I she was home for maybe a couple of days and I was holding her and she was all connected to wires and everything else.

00:19:52.120 And and and and I was just I just I just so beside myself.

00:19:59.200 I just didn't I mean everything was up in the air and and he talked about the sanctity of life and he talked about his daughter and he just gave me such hope.

00:20:13.120 I mean, it was it was it was at one of the lowest points of my life and I don't even remember what he said.

00:20:21.560 I just remember feeling there's hope this is going to be OK no matter what happens.

00:20:27.700 It's all going to be OK.

00:20:31.340 It's a remarkable gift to give somebody truly a remarkable gift.

00:20:36.920 All right, we have Steve Dace coming in in just a second and we might.

00:20:42.440 I think we might have to talk to him a little bit about Bob the Tomato, who we found out is extraordinarily racist because he makes he makes vegetables of color look bad.

00:20:59.600 I don't know if anybody's noticed, but all of the vegetables except cauliflower are vegetables of color.

00:21:05.600 And a podcast for the blaze TV.

00:21:12.100 It's Steve Dace joining us now.

00:21:14.080 Hello, Steve.

00:21:14.820 How are you?

00:21:16.180 Morning, Glenn.

00:21:16.880 How are you doing?

00:21:18.200 Well, you don't sound happy.

00:21:21.840 More good matter of fact.

00:21:24.040 Yeah, my bad.

00:21:25.200 Yeah, let's start over again.

00:21:27.160 Steve, how are you?

00:21:28.220 I am better than I deserve.

00:21:30.920 How are you?

00:21:32.780 That's fantastic.

00:21:33.980 You're also lying.

00:21:36.440 I'm just watching the Dow just spiral out of control.

00:21:41.560 Only down only down 406 points.

00:21:45.960 No, 412.

00:21:47.240 And, you know, no big, no big deal.

00:21:49.240 Just about 2 percent on the opening bell.

00:21:51.680 So, you know, nothing to worry about, Steve.

00:21:56.060 I don't know if you know this, but VeggieTales is racist.

00:22:04.260 Yeah, it's funny.

00:22:05.680 I don't remember that watching all of those with my kids, all of those years when they were little.

00:22:11.240 But I think I'm blinded to it because of my heteronormative Caucasian patriarchal tendencies.

00:22:18.500 There you go.

00:22:18.920 So a group of students in California have an annual whiteness forum.

00:22:27.220 Now, we were pretty sure, don't you think, Andrew, that we're pretty sure this is they're not for whiteness.

00:22:33.640 No, I was confused by that because the title of like the annual whiteness conference or something, I thought, oh, that's you need to steer clear of that.

00:22:40.380 But no, I think it's about whiteness and probably not in a favorable capacity.

00:22:43.360 Correct.

00:22:43.760 So now they have come out against VeggieTales and said that it is dangerous for children.

00:22:49.900 Actual words, dangerous for children.

00:22:52.700 They said that it's Bob the tomato and Larry the cucumber.

00:22:59.280 Cucumbers have been through a lot, Glenn.

00:23:00.900 You should leave them alone.

00:23:01.960 I know.

00:23:02.460 So but they are they're villains because they all of the all of the colored vegetables are are noted in the show as the bad guys.

00:23:14.800 Now, is this and I've not seen this.

00:23:16.780 These are they're in comas.

00:23:18.240 Is that what you mean when you say vegetables?

00:23:20.340 No, it's an actual cucumber and an actual tomato.

00:23:24.260 So it seems much better now.

00:23:25.720 So you never picked up on that, Steve.

00:23:28.680 I didn't.

00:23:29.720 But, you know, there's there's a couple of things at play in stories like this.

00:23:33.840 Every year on my show, Glenn, we always go in.

00:23:36.620 We start a new year with like a theme.

00:23:38.320 I try to model myself after my all time favorite bands, U2 and the Beatles and just kind of reinvent yourself.

00:23:45.340 So you're not just doing the same stale thing.

00:23:47.260 And so our theme for next year is no BS.

00:23:51.060 All right.

00:23:51.380 And and one of the things and we started it yesterday on this clip with Katie Turrett, MSNBC, talking about how meaningless life is because we won't focus wholeheartedly on on global warming.

00:24:02.820 And I think what I mean by BS in these cases is force them to live by what they claim they believe.

00:24:08.740 For example, if you really believe that if that whiteness is racist and you're at a university, remove yourself from the university and drop out of school so that someone of color may have your spot.

00:24:22.540 When Kirsten Powers said on CNN a couple of weeks ago that she has been a beneficiary of the white patriarchy.

00:24:30.420 If you really believe that, Kirsten, quit your paid gig at CNN so someone of color may have that spot.

00:24:36.900 If you really believe that, you know, what happened to Native Americans was so absolutely dreadful and terrible that you just can't even then give up all the trappings of Western civilization, trade in Wi-Fi for Wampum and join the local reservation.

00:24:52.060 And if Katie Turrett really believes that all is meaningless because we won't make a global warming our single minded focus, you know, don't take that gas guzzling, you know, SUV unmarked out front of 30 Rock home to your posh flat there on the Upper East Side.

00:25:07.460 Quit your gig and, you know, grab a placard and go out there in Times Square, bang your drum and say, bring out your dead.

00:25:14.920 These people don't believe any of this stuff.

00:25:17.500 They may feel it, but they don't believe it.

00:25:19.920 No, wait a minute.

00:25:20.420 And what they are, they're post-modern iconoclasts, Glenn.

00:25:24.760 They're just attempting to deconstruct and destroy the previous existing norms in order to make way for the new normal.

00:25:32.740 That's what this is.

00:25:33.740 Now, hang on just a second.

00:25:35.880 Bernie Sanders.

00:25:37.740 Bernie Sanders spent $297,685 with Apollo Jets, a private jet charter service,

00:25:47.880 in one month, and you're telling me he doesn't believe the things he's saying about global warming?

00:25:55.420 He's got to get there quickly.

00:25:57.440 Well, in fairness, when you have three homes while you're suffering for, you know, the working class,

00:26:03.760 that requires a lot of jet travel to get back and forth to those $50,000 honorarium speaking engagements.

00:26:09.800 Steve, I'm going to push back a little bit.

00:26:12.540 But I will posit, I do think that generally Democrats and progressives do believe the stuff they're espousing.

00:26:18.740 I don't know that they always live up to it.

00:26:20.580 And so I would say the gap is one of hypocrisy, but not of actual, you know, sort of cynical lying about the ideology they're professing.

00:26:29.400 It's not cynical.

00:26:30.660 It's immaturity.

00:26:32.180 When I was a child, I thought spoken reason as a child.

00:26:34.840 When I became a man, I set aside childish things.

00:26:37.320 When we were kids, did we really love that song?

00:26:40.020 Did we really love our favorite team?

00:26:41.580 Did we really love that band?

00:26:43.340 Well, yeah.

00:26:43.980 And we were 11, okay?

00:26:45.640 We didn't understand what love was, all right?

00:26:47.980 We were immature.

00:26:49.020 We were children.

00:26:50.200 The credo of progressivism is very simple, because I want to.

00:26:54.100 Whatever I want, I will justify.

00:26:56.020 Whatever I need to reverse engineer, whatever philosophy I need to deconstruct,

00:27:00.140 whatever cafeteria Christianity I need to choose from the menu,

00:27:03.920 where Leviticus both is terrible to gays, but also the basis of my immigration system at the exact same time,

00:27:10.720 I can just do whatever I want because I want to.

00:27:14.460 And then when I finish Antonio Gramsci's long march through the institutions,

00:27:19.120 so I control the college campuses and I control the media,

00:27:22.460 four legs good, two legs bad becomes four legs are good, but two legs are even better

00:27:26.280 because I want to.

00:27:27.540 It's really about coercion, control, and power.

00:27:30.280 And that's really what progressivism is.

00:27:32.300 And now you're watching it, to borrow one of its own terms, transition.

00:27:35.660 It is transitioning now from postmodernism to evangelism to cultural terraforming.

00:27:41.520 And you saw that with one of the most powerful progressives in the world this week,

00:27:44.680 Tim Cook, the CEO of Apple.

00:27:46.320 He was literally talking about deplatforming people that he finds objectionable.

00:27:50.760 And look at the terms he used.

00:27:51.980 We put this video on my Facebook wall.

00:27:54.700 He used the terms, and I quote, sin.

00:27:57.100 He used the terms, and I quote, judgment.

00:27:59.900 Now, I'm old enough, and I think all of us listening are old enough to remember,

00:28:02.880 we couldn't use those words anymore, they were intolerant.

00:28:05.820 Well, they're using those words now.

00:28:08.080 They're co-opting this now.

00:28:09.940 They are now spreading the new time religion.

00:28:13.380 So I happen to agree with you, Steve, that with the exception of this,

00:28:19.220 I think there's a difference between progressives.

00:28:21.880 I think we're out of the progressive era.

00:28:24.160 I think we're in the postmodern era.

00:28:25.760 And it is the truly radical postmodernists that have control or the hands around the throat of the culture.

00:28:34.980 And they are culturally terraforming.

00:28:38.900 I don't think it's the average progressive.

00:28:42.060 I think the progressives like Bernie Sanders, who was not really a progressive,

00:28:49.100 he's really more of a Marxist.

00:28:50.920 I mean, he would say as much.

00:28:52.140 He's a socialist.

00:28:52.740 He's a socialist.

00:28:53.940 And so, you know, the average person who claims to be a progressive,

00:29:00.540 I don't think is in that category.

00:29:04.320 I think there's 10% of this population that would like to just take us to hell.

00:29:09.220 And they believe it, that it would be a great thing.

00:29:13.600 I think that's true.

00:29:14.760 I think it's a bad idea to view any large group of political people as monolithic.

00:29:19.240 If we're looking at the, even if we're looking at like the Libertarian Party,

00:29:23.100 there's different camps within the Libertarian Party.

00:29:24.860 There's certainly different camps within the Republican Party.

00:29:27.100 And there's different camps within the Democratic Party.

00:29:29.200 And I would agree with you.

00:29:30.340 I think most Democrats want America to be good.

00:29:34.000 They like America.

00:29:34.960 They're rooting for good things.

00:29:36.420 However, they have a different way of doing it.

00:29:38.080 So, putting all of them into that kind of anarchic, destroying the civilization thing,

00:29:44.440 I think would be overshooting the mark.

00:29:46.940 And I don't think that, I like your opinion on this, Steve,

00:29:50.500 that what's happening in Paris goes to show that 80% of the people in France believe in global warming.

00:30:00.420 They believe in it.

00:30:01.080 However, when it actually comes down to it, and it's going to affect their life,

00:30:08.640 they're like, well, no, no, no, no, no, no.

00:30:09.900 I want to do something.

00:30:10.760 But I want them to do something.

00:30:12.520 I want them to pay for it, not me.

00:30:15.500 And that's where a real problem comes in.

00:30:17.840 And I think what you're talking about, you know, it's do as I say, not as I do.

00:30:21.820 Well, that is the childlike thinking of, I want things without consequences,

00:30:29.160 or I want to pass those consequences on somebody else.

00:30:33.340 And this has been a several-staged cultural devolution.

00:30:36.760 It's been a cloward pivoting on a devolution scale.

00:30:40.620 The welfare state was the first salvo.

00:30:43.900 And you begin this notion that we're going to devolve from a safety net to a full-fledged welfare state.

00:30:48.920 And at the heart of it is this notion that I have to subsidize other people's poor choices.

00:30:54.960 And therefore, you're not accountable for your actions.

00:30:58.220 And we're going to create things like marriage penalties.

00:31:00.820 And we're going to incentivize things like out-of-wedlock births.

00:31:04.420 That's the first and opening salvo, that I'm entitled to something that doesn't belong to me,

00:31:09.460 rather than face accountability for a poor life choice that I made.

00:31:12.980 You reach the next stage now where this mindset becomes institutionalized.

00:31:16.960 And that's what you're talking about right now.

00:31:19.260 And this goes to what the theme of our show was for this year, which was worldview.

00:31:23.500 And we started off our year talking about the seven deadly worldviews.

00:31:26.820 And the last stage, and they go in stages.

00:31:29.240 And the last stage is secular humanism or postmodernism.

00:31:32.520 And it's always, whatever it's been called in past eras, it's a temporary staging ground,

00:31:38.060 because we want to believe in something transcendent.

00:31:40.400 We all have the Blaise Pascal described, God-shaped hole in our heart.

00:31:44.340 And so this is the final stage of deconstruction in order to prepare the culture for the next transcendent truth to come.

00:31:51.900 If you look at Europe, the two transcendent truths, and they're about a quarter century ahead of us on the devolution scale.

00:31:57.440 The two new transcendent truths are cultural Marxism and Islam, which is, you know,

00:32:03.140 you have a lot of former Catholic churches now or mosques in Europe.

00:32:06.800 The same thing is going to happen here as well.

00:32:09.180 If you don't see spiritual revival in America, in a quarter century, we're going to be exactly where you see France,

00:32:15.520 exactly where you see the UK.

00:32:17.280 We're heading there now.

00:32:18.420 Look at what the so-called conservative parties are in Europe.

00:32:21.400 Look what's happening to the so-called conservative party in America.

00:32:24.940 They're really, we're just not that far left parties.

00:32:27.540 And that's exactly what's happening here.

00:32:29.520 And it's unavoidable unless you have a great awakening of the likes of which that gave birth to liberty in America in the first place.

00:32:36.460 I will tell you, I think you're wrong on your, on your analysis of 25 years.

00:32:42.480 I don't think we're that far behind.

00:32:44.280 I really don't.

00:32:45.460 I mean, look how fast optimism this morning, and then you guys peed all over me.

00:32:51.760 Steve, thanks so much.

00:32:53.400 Steve Dace follows this program on the Blaze TV network.

00:32:57.280 You can check him out either just by watching TV or you can watch online.

00:33:03.720 His podcast, his show, all of us, all of our shows are available on your time.

00:33:09.020 And all of our podcasts are all found at the Blaze TV.

00:33:12.800 So just go to BlazeTV.com.

00:33:15.120 That's BlazeTV.com.

00:33:17.020 And poke around and check us out.

00:33:21.340 See what we have to offer now.

00:33:23.180 BlazeTV.com slash Beck.

00:33:25.200 And if you use the promo code BeckChristmas when you sign up, you're going to save $20 on the year.

00:33:32.480 So please use BeckChristmas.

00:33:36.260 BlazeTV.com.

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00:35:31.620 So, you know, we have Andrew Heaton with us who's a libertarian and the host of Something's Off with Andrew Heaton.

00:35:46.480 You know, you kind of had a problem with what Steve was saying there, I could sense.

00:35:53.900 Yeah.

00:35:54.400 Yeah.

00:35:54.720 However, if you're looking at this as the politicians, not the people, but the politicians.

00:36:02.880 Okay.

00:36:04.800 Do you find that true at all?

00:36:06.320 That there are a lot of politicians like, you know, Macron, he might believe in all of this stuff, but he's not going to take the brunt of it.

00:36:15.520 None of them are going to take the brunt.

00:36:16.860 None of them.

00:36:17.500 It's the let them eat cake kind of attitude.

00:36:19.740 I will say, when you brought up the French fuel protests, it reminded me, do you know T. Boone Pickens?

00:36:24.380 Have you met him?

00:36:24.820 Yeah, yeah, yeah.

00:36:25.340 So, T. Boone, if you're not, for those of you that don't know our billionaire friends, and I've only met him one time, but T. Boone's a philanthropist and an oil guy, and I guess now like a gas guy from Texas, but big donor in universities in Oklahoma where I'm from.

00:36:39.480 I met him when I was working for Congress, and he was giving a big spiel.

00:36:42.520 I think he was trying to get subsidies for gas or something.

00:36:44.720 I don't remember what it was, but I raised my hand and said, you know, as an environmentalist, I'm kind of concerned about this.

00:36:49.420 And he, with very limited snark, he said, yeah, everybody's an environmentalist until you ask them to pay a couple hundred bucks.

00:36:55.140 And then he just kept moving on.

00:36:56.520 And I think he was dead right about that.

00:36:57.860 I think he was absolutely right about that.

00:36:59.300 Everybody's an environmentalist when being an environmentalist is liking Captain Planet on Facebook.

00:37:03.700 And then when you actually, it's like, by the way, but you shouldn't go to Italy because that takes a lot of carbon, which, by the way, this is true.

00:37:08.660 Like, recycling is garbage.

00:37:10.060 Recycling, I'm just going to rant for a second.

00:37:11.480 Like, to have any type of carbon impact with recycling, you'd have to recycle like a thousand bottles.

00:37:17.480 People go crazy when you say that.

00:37:20.800 Because it's religious.

00:37:21.700 It is.

00:37:22.340 It is a spiritual practice, like going to church.

00:37:25.260 It's not rooted in empiricism.

00:37:26.880 But that's exactly what Steve Dace was talking about.

00:37:29.360 Okay, so this is.

00:37:30.240 So hang on, hang on, hang on.

00:37:31.360 We've got to take a break.

00:37:32.580 You don't want to miss the rest of the program.

00:37:36.760 We've got a lot of great stuff, including the latest on France and the economy and some of the radical stuff that is that's happening that you need to be aware of coming up.

00:37:49.900 All right.

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00:39:00.960 Glenn Beck.

00:39:04.040 Well, I really want to talk to you about Paris.

00:39:07.880 Do elections have any consequences at all?

00:39:12.360 I spoke to George W. Bush one time in the Oval Office,

00:39:15.480 and he told me, don't worry about who's going to sit behind the resolute desk.

00:39:19.920 He said, ultimately, it doesn't matter.

00:39:21.880 He said everyone elected would always be beholden to the same political restraints.

00:39:26.960 They'd have the same basic advice and they would see that they really have no choice.

00:39:31.120 He meant this to make me feel better.

00:39:33.780 And I didn't.

00:39:34.740 I didn't.

00:39:35.340 It didn't work.

00:39:36.020 I left there going, oh, that's not good.

00:39:38.100 Wait, what?

00:39:40.360 Now, maybe there's a little comfort to know if, you know, Bernie Sanders were ever elected,

00:39:44.460 that he'd have to deal with that same realization.

00:39:46.560 But on the other hand, what happens when, you know, the public figures all of this out?

00:39:52.680 And what happens to the social contract with the government?

00:39:55.860 What happens if Republican voters never get a repeal of Obamacare?

00:39:59.700 Spending never gets cut.

00:40:00.980 Taxes are never lowered.

00:40:02.140 They never get a border wall.

00:40:03.660 What happens when progressive Democrats never get a single payer,

00:40:07.020 a $15 an hour minimum wage or free college?

00:40:10.260 How long before the social contract is burned

00:40:13.400 and people start going out into the streets?

00:40:16.660 I know that sounds crazy, but look at Paris.

00:40:19.280 The Paris yellow vest riots began in November as a protest against the radical climate change agenda.

00:40:25.240 Now, no, no, no, not the agenda, the actual cost to them.

00:40:30.660 Now, the media is not reporting it this way.

00:40:33.640 But this is a stunning rebuke of the climate movement.

00:40:37.260 They imposed a gas tax that was part of France's version of, you know,

00:40:44.060 what Americans like Ocasio-Cortez and Bernie Sanders are hoping to get done with their new Green Deal.

00:40:49.740 But the French said first, yes, until it was imposed on them.

00:40:54.580 They were like, whoa, whoa, whoa, whoa, whoa.

00:40:57.260 No.

00:40:58.700 So they hit the streets in droves.

00:41:01.240 A quarter of a million people showed up.

00:41:03.840 That's the first riot, burning cars, smashing windows, even attacking police.

00:41:08.800 Those numbers continued this past weekend,

00:41:11.360 and it actually forced President Macron to first delay his fuel tax for six months.

00:41:16.620 And then they said, yeah, no, I don't think that's good enough.

00:41:19.780 And fully cancel it yesterday.

00:41:23.180 So now are the French packing up their yellow vest and going home?

00:41:26.980 No.

00:41:28.500 Now they're doubling down.

00:41:30.040 The democratic system in France has lost its social contract with the people.

00:41:34.960 They're tired of being ignored.

00:41:36.700 They're drawing up a new list of demands.

00:41:39.160 Conservatives are calling for even lower taxes and more jobs.

00:41:42.780 Liberals rioting side by side with conservatives are now calling for smarter taxes and a redistribution of wealth.

00:41:50.160 Let them eat cake.

00:41:51.340 Is that the guillotine I hear being sharpened?

00:41:53.040 France's largest farmers union has pledged to enter the riots starting on Saturday.

00:42:00.800 All of the major trucking unions have announced their plans to join as well to protest a cut in overtime rates.

00:42:07.900 Every Frenchman that can don a yellow vest is planning to march this weekend,

00:42:12.220 and nearly every one of them has a different complaint.

00:42:16.380 Taxes, wages, jobs, immigration.

00:42:19.360 This monster is growing, and it is beginning to spread all over Europe.

00:42:25.200 It's almost like there would be a caliphate established after the Arab Spring,

00:42:29.740 which would destabilize the Middle East,

00:42:31.980 which would then spread up to Europe and begin to destabilize Europe.

00:42:36.780 And the left and the right would begin to work together to collapse the European system.

00:42:41.800 And then it would spread to America.

00:42:43.720 Gee, it's almost like that.

00:42:45.980 Good thing that was dismissed by the political elite and everybody laughed at it.

00:42:52.100 This is what happens when political promises go empty year after year after year after year.

00:42:58.140 It only takes one spark for the powder keg to explode.

00:43:02.060 And it usually happens, usually happens when there is great suffering economically.

00:43:08.740 In most of Europe, that spark was the immigration crisis.

00:43:13.140 Wait until they have real economic downturns.

00:43:17.660 As the economy worsens in Europe and the progressive policies,

00:43:21.680 like the climate change agenda, made things worse,

00:43:24.740 the social contract broke apart.

00:43:28.160 Elections do have consequences.

00:43:31.680 And those that are elected, if they never deliver on their promises,

00:43:35.480 if they ignore the issues that voters care about,

00:43:39.820 Paris is the result.

00:43:43.140 It's Thursday, December 6th.

00:43:51.080 You're listening to the Glenn Beck program.

00:43:53.740 We were supposed to have Gavin McGinnis join us,

00:43:55.820 and he's running a little late,

00:43:58.340 or he's in a different time zone.

00:44:01.180 But I was anxious to hear him talk about the Paris riots,

00:44:05.760 because not sure what he would say.

00:44:08.600 So, I'm kind of looking at this,

00:44:11.760 and I'm thinking that Paris might just be on the Eighth Republic.

00:44:15.100 Because Paris has had several republics now, right?

00:44:17.120 We're on Republic No. 5.

00:44:18.820 They just kind of reboot every few years.

00:44:21.840 So, it wouldn't surprise me if they have a new constitution within six months or so,

00:44:27.180 and they kind of reorganize.

00:44:27.980 But, you know, in 1968, they almost became a communist country.

00:44:32.720 It was really close.

00:44:34.860 And I could see this happening.

00:44:36.800 You know, in Europe, they only have right or left as communist and fascist.

00:44:42.260 It's the middle ground that you have the most amount of freedom in Europe.

00:44:48.860 You know, not here in America, but they don't have the American,

00:44:52.340 they don't have, you know, they don't have rights.

00:44:53.880 They've got a very different system in France.

00:44:56.040 I mean, like, it's effectively illegal to fire someone in France.

00:45:00.220 Yes.

00:45:00.380 It's effectively illegal, and I'm not being hyperbolic.

00:45:02.940 It's just varied, and it's one of those things where...

00:45:05.540 Big companies have whole floors of people who they just can't fire.

00:45:10.240 And if you were, if I'm an employer in France, and probably never will be,

00:45:14.600 but if I am, then I'm going to probably try and hire freelancers

00:45:18.980 as opposed to full-time people that I can get rid of if I need to,

00:45:21.560 or I might not hire anybody because I'm worried about getting saddlebagged

00:45:24.260 with someone that's a bad employer.

00:45:25.300 There are all sorts of these bad economic consequences that happen

00:45:28.580 to a lot of the stuff happening over there, and they've got a...

00:45:31.100 Yeah, it's a much more interventionist, statist economy.

00:45:34.380 But did you notice what they were talking about?

00:45:35.860 The truckers now are saying that we're demanding that you don't cut our overtime.

00:45:43.280 That's why I'm thinking this might turn into a new constitution,

00:45:45.420 because if it was just we want lower gas taxes, then that's a one issue.

00:45:49.040 But if it's just everyone in France goes like, you know what?

00:45:51.400 And also, refrigerators are too small, and everybody comes out and starts getting mad,

00:45:55.060 then it's like, ah, at that point, they might just have to restart everything.

00:45:57.520 Right.

00:45:57.600 But who there is talking about more rights, more freedoms?

00:46:03.680 I mean, in that list that I just gave, they're all things that the government should provide

00:46:08.060 or should guarantee.

00:46:09.400 You know what's weird?

00:46:10.180 France used to be, like before England, France was the kind of bastion of classical liberalism,

00:46:16.740 of enlightenment freedom, like Frédéric Bastiat, who wrote this wonderful essay

00:46:22.120 on The Candlemaker's Lament, where he's satirizing, outlawing the sun

00:46:26.820 because it puts too many candle makers out of business.

00:46:29.360 French.

00:46:29.880 There were a bunch.

00:46:30.220 And then it kind of, I don't know what happened.

00:46:31.800 I honestly don't.

00:46:32.320 French Revolution.

00:46:33.080 And there was like, nope, that's not an acceptable strain of philosophy anymore.

00:46:36.860 You need to be.

00:46:37.260 Yeah, no.

00:46:37.800 And then Marxism really kind of, I mean, Marxism was around before Marx was Marx.

00:46:43.260 He just kind of codified it.

00:46:44.720 But it, you know, when you have the guillotine and you see what the blood path that turns into,

00:46:50.400 you're like, nah, you know, no, I don't think so.

00:46:52.120 You know, Paris, they, you probably, I think this is a well-known fact that Paris had thought

00:46:57.620 it was going to get rid of the Eiffel Tower at one point.

00:46:59.240 It was a temporary thing because it was for a World's Fair.

00:47:01.480 But what I learned recently, and I think this is amazing, is that the Eiffel Tower was one

00:47:04.980 of like three finalists, and one of the other finalists was a giant guillotine to celebrate

00:47:09.340 the French Revolution.

00:47:10.820 And I think what a, romantic comedies would be so different if it was always this guillotine

00:47:16.160 in the background.

00:47:17.580 It would just completely, because we think of Paris as like, oh, it's the city of love.

00:47:22.120 And it's like, if it had a giant guillotine, it would be the city of blood and turmoil.

00:47:26.080 But wouldn't it be such a great offset of the Statue of Liberty?

00:47:29.560 Because it would be like her head would be the only neck that would fit in it.

00:47:33.140 You know what I mean?

00:47:33.780 It's not necessarily a good thing, what is happening over in Europe.

00:47:43.300 And it is because people are being regulated and taxed to death.

00:47:48.240 Now, they're asking for it.

00:47:50.140 They're asking for it.

00:47:51.260 They say they want these things, but then they don't want to pay for it.

00:47:54.100 They want somebody else to pay for it.

00:47:55.540 Well, let me give you a story from California.

00:48:02.920 California now has just become the first state to mandate solar panels.

00:48:12.720 I saw that.

00:48:13.500 On the roof of all new homes.

00:48:15.600 Is it just, and I've not looked through the specific legislation, is it a certain amount

00:48:19.660 of the home's power has to come from that?

00:48:21.360 Or there have to be X amount of panels per square footage?

00:48:23.780 Does it matter?

00:48:25.040 No.

00:48:25.440 And see, this is the weird thing.

00:48:26.560 Again, I think I'm bigger on unforeseen consequences than I am on libertarianism.

00:48:32.360 It's not even so much that I'm just like, can everybody just think about what's going

00:48:35.300 to happen if you're going to force people to do things.

00:48:37.660 So like in this instance, with environmentalism at large, solar panels are still a trade-off.

00:48:45.700 You're going to, you have to extract heavy metals to get them.

00:48:48.500 You have to do all those things.

00:48:49.740 It might be the best thing.

00:48:50.660 I'm not saying it's a bad, it's a terrible idea.

00:48:52.500 But would it, I could see other better ways to do it.

00:48:56.100 Like if, rather than strong arming solar power, if you want to take your tax dollars and put

00:49:00.500 it towards something, what if you gave everybody a subsidy or a voucher so long as they had

00:49:03.560 some sort of green related technology, but they're making a very specific way of doing

00:49:07.300 it.

00:49:07.520 And that may not be the best and most efficient way.

00:49:09.280 How about, how about just not taking the money?

00:49:11.180 Yeah.

00:49:11.900 Just want to go for it?

00:49:13.360 Yeah.

00:49:13.540 Just do it yourself.

00:49:14.720 You know who did this?

00:49:15.940 There is, there is, I think it was either Germany or Berlin, but I think it was all of Germany

00:49:20.120 mandated solar panels.

00:49:22.280 Well, now solar panels, these outdated old solar panels, these giant monstrosities that

00:49:28.940 can, there are no good.

00:49:31.080 They're just, they're just decaying on the top of these houses.

00:49:34.460 Solar energy is not ready for primetime yet.

00:49:37.500 Yeah.

00:49:37.660 We're close, but it's not ready for primetime.

00:49:40.180 The batteries are not there.

00:49:41.980 Uh, the, the, the size of these things.

00:49:45.960 I put solar panels up on my house in, um, uh, in Idaho.

00:49:52.760 I've already replaced them.

00:49:54.860 Uh, I've already upgraded the system.

00:49:57.920 Uh, the batteries are, uh, they're a fortune.

00:50:02.600 They're a fortune to put the batteries in.

00:50:04.920 It's just not ready yet.

00:50:06.160 What you should do is you should buy some spotlights, like a used car dealerships, get

00:50:10.360 some of those spotlights and, and plug them in and then shine them at your house.

00:50:14.440 That's free energy right there, Glenn.

00:50:15.760 You're welcome.

00:50:16.220 I could shine them at the solar panels.

00:50:18.320 Yes.

00:50:18.540 That's what I'm saying.

00:50:19.400 Oh, that's, oh yeah.

00:50:20.500 The house powers itself.

00:50:21.920 No, that's good.

00:50:22.580 That's good thinking.

00:50:23.620 That's good thinking.

00:50:25.760 He's not really a morning person in case you, in case you have a rise from sleep as if

00:50:31.840 from open heart surgery.

00:50:33.040 I am, I am 40% human right now.

00:50:36.100 That's a high number.

00:50:37.760 Um, all right.

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00:51:59.300 We want to, uh, I want to bring in, uh, Justin Wheeler, who is, um, a researcher for me and,

00:52:05.100 and, and really watches, uh, what's happening in wall street and the economy.

00:52:10.520 Uh, and maybe are you, would you say you're a little more optimistic than I am?

00:52:15.300 Sure.

00:52:15.820 I think so.

00:52:16.640 You know, you're a, you're an optimistic catastrophist and I think I'm an optimist and

00:52:20.940 occasionally catastrophist, but so what is happening with wall street down now 433 points

00:52:27.880 yesterday, uh, rallied right towards the end, but it was ugly all day long.

00:52:33.660 It was what's happening.

00:52:35.700 So two schools of thought.

00:52:36.800 One is this is more of a normal correction.

00:52:39.380 Um, we are seeing, you know, we've had a long bull run.

00:52:42.660 It has not, uh, you know, had a significant retrenchment for quite some time.

00:52:46.520 It's had a couple of times this year where it looked like it was going to get into correction

00:52:49.960 territory and then didn't, it slipped right to that 10% line and that recovered quickly.

00:52:56.040 Um, so the, the one school of thought is this is normal.

00:52:59.180 We should expect this to occur.

00:53:00.600 It is normal for a market to have to retrench for irrational advancements to, to, to need

00:53:05.980 to get taken out of the marketplace and more rational events was to come take their place.

00:53:10.300 Um, so the one school of thought is this is a normal or healthy retrenchment.

00:53:14.260 Uh, the other school of thought looks back about seven or eight years and goes, it's

00:53:18.480 not possible for this to be a normal or rational retrenchment because the market for the last

00:53:23.340 seven to eight years has not been normal or rational.

00:53:25.940 Right.

00:53:26.480 Um, we came out of the financial crisis and did abnormal, irrational things.

00:53:31.300 We built up the market with $4 trillion of printed money.

00:53:35.220 Uh, we brought $2 trillion of corporate money back into the United States.

00:53:38.980 Trump did that, brought that money back in from overseas and the companies took some of

00:53:43.260 that money and gave it back to the workers.

00:53:44.620 We saw those press releases when they occurred, but the vast majority of that money, they took

00:53:48.620 it and to avoid paying taxes on it, they invested it in their own stock.

00:53:53.040 Now it was no longer a tax that year.

00:53:54.960 It would be a capital gain for the following year.

00:53:57.520 So $2 trillion additional dollars went into the market that otherwise would not have been

00:54:01.940 there in stock buybacks.

00:54:03.380 So there really are those two, two competing schools of thought.

00:54:07.020 One that you'll hear from Merrill Lynch that says, this is a normal rational retrenchment.

00:54:11.860 Even if we see a 10, 15%, uh, you know, decline in the market, that's a healthy retrenchment.

00:54:18.160 And early in next year, those gains will re-manifest themselves.

00:54:21.880 And then the other one looks back a few more years and just says, I'm not really sure that's

00:54:25.400 the case because we didn't enter a healthy period.

00:54:28.160 And so what does that mean for a percentage of loss?

00:54:33.380 The, to get back to where we should have been, if this was a normal, healthy retrenchment,

00:54:39.840 the Dow would have to lose more than 15% to 20% of its total value from, from where it

00:54:45.800 got to in terms of an all time high.

00:54:47.340 Okay.

00:54:47.640 And some analysts say as low as 18,000 before we'd be back to where we should have been

00:54:53.000 if a healthy retrenchment had occurred in 2008.

00:54:56.340 Okay.

00:54:56.560 Um, but we're not, you don't think that this is a, a 2008 style event that is on the horizon.

00:55:04.440 Not yet.

00:55:05.100 I think there's actually still time left.

00:55:07.120 I do think we're going to see some declines.

00:55:09.860 Uh, we should see a floor today, for example, around, uh, 24,460, somewhere in that range.

00:55:15.060 It should, it should level out right there and we should see some port, uh, support.

00:55:18.220 And then we should actually gain back, you know, from the all time high through what we've

00:55:22.900 lost today or, or into tomorrow, we should gain back 50 or 60% of that, um, over the next

00:55:28.780 few weeks.

00:55:29.300 And I, I think we'll have a relatively light end of the year season going into next year.

00:55:34.460 But then we have president Donald Trump and Trump doesn't like markets to not respond to

00:55:40.160 what he's doing.

00:55:41.060 You know, he made a major arrest, uh, yesterday or asked his Canadian friends to make a major

00:55:46.200 arrest on behalf of the U S justice department, um, Chinese, of, of very important Chinese,

00:55:51.760 very important Chinese person, not just from who she is as a CFO of one of the largest corporations

00:55:56.960 in China and the daughter of the founder of that corporation, who was also a major party

00:56:01.720 member in the communist party.

00:56:03.500 The founder was so, um, the Chinese obviously can't not respond to that.

00:56:08.420 And then Trump being who he is, we'll have to respond to them.

00:56:12.940 And the way Trump responds is publicly.

00:56:15.080 It is not privately through diplomatic channels.

00:56:18.060 It's through Twitter.

00:56:18.840 Our secretary of state is his Twitter account.

00:56:20.720 Yes.

00:56:21.220 Uh, effectively.

00:56:21.980 That's so can you tell me what, what she was arrested for?

00:56:28.260 Uh, no, they have not disclosed specifically other than potential violations of the, uh, sanctions

00:56:35.980 that we have against Iran, but nothing specific only that there are potential violations.

00:56:40.540 Um, and the, uh, the treaty that we have with Canada gives them up to 60 days to apply for

00:56:46.540 her extradition to the United States.

00:56:48.400 So they may hold her for up to 60 days, unless of course the Chinese protest and they cave

00:56:53.000 into those protests.

00:56:54.140 What would be our reason for doing this?

00:56:59.440 Uh, of course, this depends on how, who you ask, Glenn, there's a conspiracy corner that

00:57:04.340 you can find on zero hedge, uh, that is delightful to read, uh, some mornings and it's a great

00:57:09.220 way to wake up actually, um, but a lot of skin off your face, conspiracy theories are a great

00:57:13.900 way to get your, your imagination stimulated.

00:57:16.160 It is, it is.

00:57:16.940 They're fantastic.

00:57:17.400 But you know, a couple of those that are out there right now is this is a more protracted

00:57:21.800 chess game that Trump is playing against China.

00:57:24.440 This is, um, tantamount to what Reagan did to the communist party in the Soviet union.

00:57:29.820 Trump is playing that long game with China.

00:57:32.820 He is not looking for a good, healthy trade agreement.

00:57:35.680 He wants to bring down the party in power.

00:57:38.180 And that is effectively the steps he is taking that won't take one step or two steps.

00:57:43.980 It's 15 chess pieces deep.

00:57:45.800 And then that party is in real trouble.

00:57:47.860 I will tell you that you could make a case for that.

00:57:51.640 I'm not convinced that he's a chess player.

00:57:55.880 You know, he seems like more of a checkers kind of guy.

00:57:59.020 Um, so I'm not convinced he's a chess player, but the moves that he has made, you could

00:58:05.540 make a case.

00:58:06.980 You can make a case that he is, he is going for something much bigger and it's the collapse

00:58:12.760 of China.

00:58:13.360 Yeah.

00:58:13.580 Justin, can you walk me through how that would work exactly?

00:58:15.900 So he's, he's, he's, uh, arresting this high profile Chinese citizen and, uh, and, and

00:58:21.180 we're, we're having a trade war.

00:58:22.780 How does that result in the communist party's downfall?

00:58:24.840 Hang on just a second.

00:58:25.680 We have to take a quick break and we'll come back because it is an interesting answer.

00:58:29.660 I don't know how much of the answer you have, but it is a very fascinating, uh, uh, theory.

00:58:34.320 And we'll get to that.

00:58:35.200 Also, um, I want to talk to you a little bit about waves and there's this wave of pessimism

00:58:41.280 that is, we've never seen before.

00:58:43.800 We haven't seen in a very long time, not even during the great depression.

00:58:47.360 And we'll get to that when we come back yesterday's funeral of, uh, George Bush was, I think,

00:58:57.160 3,200 people today.

00:58:59.020 It is a family service of 1,200, uh, here in, uh, Houston.

00:59:06.760 You should be so lucky to have 50 people that actually care show up at, uh, at your funeral.

00:59:13.920 Uh, we, uh, with, uh, Justin Wheeler, who is one of the guys who does research for me

00:59:19.080 and watches the economy for me and just stock market and tries to explain different things.

00:59:24.800 And we were talking about, uh, Donald Trump and his tariffs with China.

00:59:30.500 He may be, maybe playing a, uh, a game of chess with, uh, with China.

00:59:38.660 And it's not just about a new trade deal.

00:59:41.360 It's actually about taking at least, uh, president, uh, Xi out.

00:59:46.940 Uh, he is significantly damaging president, uh, president Xi in China.

00:59:52.700 Yeah, I mean, China is an interesting economy because it is still a classical mix of, uh,

00:59:59.580 a strong communist regime.

01:00:01.700 But over the last 20 years, they have adopted capitalist principles in order to grow.

01:00:06.500 That is how they have been able to grow is by saying, well, we got Hong Kong and Hong Kong's

01:00:10.780 working.

01:00:11.180 What does Hong Kong do?

01:00:12.280 Well, they practice capitalism.

01:00:13.320 So let's do some of that.

01:00:14.800 And we've experienced this quote unquote Chinese miracle.

01:00:17.500 Um, you know, Trump as a strategist, we talk about, is he playing chess or is he playing

01:00:23.260 checkers?

01:00:23.960 And Trump as a strategist, his, you know, if you read his, uh, his two books from the,

01:00:29.060 the sixties, but especially the art of the deal, which was used in wall street.

01:00:32.600 And one of the things you learn from the movie wall street is that, uh, these wealthy

01:00:37.660 businessmen want to acquire or partner with companies and they don't look at a company that's

01:00:42.280 having a Chinese miracle and say, I want to partner with them.

01:00:44.980 I want to acquire them.

01:00:46.220 They say, I want that company, but I want it on its downslide.

01:00:50.140 And so what do they do?

01:00:51.580 They cause its downslide.

01:00:53.360 They do things to impact that company so they can buy it at a, at a good deal for them.

01:00:58.900 They want to buy it at a discount.

01:01:00.500 So they'll buy out suppliers that are supplying that company and say, well, you're no longer

01:01:04.680 getting aluminum at this discounted rate.

01:01:07.020 Um, they'll make a deal with the union for the union to go on strike.

01:01:10.280 They'll do things to that company.

01:01:11.720 And he, Donald Trump expresses this in the book.

01:01:14.000 This is strategy that you do to acquire a company at a better deal.

01:01:17.720 Um, he's done it throughout his entire career.

01:01:19.860 And I think we're seeing very much that same game at play for him.

01:01:23.760 And it is working when he deals with, uh, economic issues and diplomatic issues.

01:01:28.620 He looks at the European union.

01:01:30.500 He looks at, uh, England.

01:01:32.520 He looks at Canada and Mexico.

01:01:33.700 And now he looks at China and says, I do want a better trade deal.

01:01:37.720 I can't get that better trade deal.

01:01:39.880 The deal I want for the American people and that I think is best for us.

01:01:42.840 I cannot get it from this communist regime.

01:01:45.640 So what do I do?

01:01:47.000 I take the knees out from underneath that communist regime.

01:01:50.160 I hurt them where they can't hurt me back.

01:01:53.000 Uh, at least not in, in a grand scale.

01:01:55.560 Yes, cars are going to be a little bit more expensive over here, but over there, they will

01:02:00.100 have 5 million people out of work.

01:02:02.040 And, um, those people protest and those people support the communist party.

01:02:06.680 And so it does a significant service to him in elevating his, uh, negotiating power and

01:02:13.780 his position of power with them to do things that weaken that regime.

01:02:17.760 He doesn't want to destroy China.

01:02:19.240 This is not some racist globalist thing.

01:02:21.800 He's, he's not trying to be an imperialist.

01:02:23.580 He just wants a better deal for the American people.

01:02:25.440 And the best way to do that is to weaken Chinese companies and to weaken the Chinese regime.

01:02:29.900 So, uh, a dangerous game.

01:02:35.040 Sure.

01:02:35.860 And, uh, when Reagan played it with the Soviet union, he had Thatcher playing the same game.

01:02:42.320 He had the Pope playing the same game.

01:02:44.780 I don't think Donald Trump, I'm not sure that even in his own administration, he's, if he

01:02:51.120 is playing this game, express that to everybody.

01:02:54.140 I'm sure.

01:02:54.700 I'm sure he has not.

01:02:55.820 Is 5 million angry, unemployed people in China going to make a difference?

01:02:59.600 I mean, it's, it's a large population and they're, they're so suppressive of any type

01:03:03.740 of dissent.

01:03:04.320 I don't know.

01:03:05.080 It's, it's not like, uh, Xi Ping is looking at polls going, oh no, they don't like me.

01:03:09.680 Sure.

01:03:10.160 It's, and it depends on where it happens in China.

01:03:12.280 So China is an interesting market now because you do have people in China who have independently

01:03:17.780 grown wealth.

01:03:18.800 You have Chinese people over the last 15 years that used to live on a rural farm and work

01:03:24.320 for the communist party growing, you know, rice, and then now drive a car in Shanghai.

01:03:29.220 And just like us, if it comes to giving up that car, they now know I can have a car.

01:03:34.760 I don't want to give up that car.

01:03:35.860 So if you end up with 5 or 10 or 20 million unemployed people in rural China that is not

01:03:41.380 covered by the news media and where people still are poor, no, it won't matter.

01:03:45.500 If you end up with 5 or 10 million unemployed people in Shanghai and in the larger metropolitan

01:03:51.960 areas, it will matter significantly.

01:03:54.500 That's really what happened to the Soviet union.

01:03:56.700 The Soviet union collapsed on the protest of 10 million people with 200 million citizens,

01:04:02.220 but 10 million people protested that the entire communist regime collapsed.

01:04:07.580 It depends where it happens.

01:04:08.860 Yeah.

01:04:09.000 And they're very, the one thing that the communists have known, and this is why I think that they're

01:04:14.060 there, you know, they have their total surveillance state by 2020 is they can't handle, they're

01:04:21.440 so fragile that they can't handle any real unrest.

01:04:26.220 I mean, they, this is why they built those ghost cities.

01:04:28.660 They built those damn ghost cities because they can't have this stop because they know

01:04:34.660 if it stops, there's been enough people who have built those that are looking in going,

01:04:39.640 I don't live like this.

01:04:41.900 Wait a minute.

01:04:42.340 People can live like this.

01:04:44.240 And once they see that they want that.

01:04:48.020 I think the, the Chinese regime has been far more competent in terms of retaining its totalitarianism

01:04:54.020 than the Soviets were because, because Gorbachev and I'm, this is not a slander to Reagan,

01:04:58.140 by the way, but when we say that Reagan won the cold, the cold war, I think that that you're

01:05:01.460 giving communism far too much credit, or I'm sorry, you're giving Reagan too much credit

01:05:04.300 and communism too much credit.

01:05:05.920 Communism collapsed because communism is stupid.

01:05:07.840 Correct.

01:05:08.320 But what Gorbachev did was Gorbachev looked at this kind of fraying Soviet empire and he

01:05:13.600 went, here's what I'm going to do.

01:05:14.520 I'm going to give people more freedom and they will love me in the government as a result

01:05:17.780 of this.

01:05:18.240 And what happened was they went, you know what, now that I've got more freedom, I think of

01:05:20.700 myself more as a Ukrainian than I do as a Soviet, a Soviet citizen.

01:05:23.440 And the whole thing imploded.

01:05:24.180 But China's learned from that model and China's gone, we're going to give enough economic

01:05:27.980 freedom that we can get some money going, but we're not going to give any type of, there

01:05:31.360 no, you do not get any rights to protest or anything like that.

01:05:34.420 And they've, they've managed to keep that grip on power.

01:05:37.240 Agreed.

01:05:37.720 And the, I mean, there's a couple of differences.

01:05:39.620 The Soviet Union built itself as an empire.

01:05:41.980 They went and conquered numerous countries around them.

01:05:44.880 China is insular.

01:05:45.600 They have not conquered outside of their own border since World War II.

01:05:48.640 I mean, they really are a cohesive set of, of independent states with, with different

01:05:53.540 cultures internally, but they are a cohesive nation.

01:05:55.640 They think of themselves as Chinese.

01:05:57.380 Yeah.

01:05:57.640 So that's a great point.

01:05:59.380 The other significant difference though, of course, is what Glenn was talking about with

01:06:02.540 that total surveillance state.

01:06:03.660 They want to snuff out dissidents at one person.

01:06:06.960 Yeah.

01:06:07.060 They don't want to wait till it's 20,000 people or Tiananmen Square anymore.

01:06:10.200 They've learned that lesson.

01:06:11.180 So that's why they want to be able to find one person in a big city and find them right

01:06:16.580 now and shut them up.

01:06:17.700 And they're, and they're getting it.

01:06:18.540 We've, we've talked previously and I'm sure you've covered a lot on the whole credit rating

01:06:21.920 system, the social credit rating system they have, where if you're, if you're looking at

01:06:24.900 the wrong Google search images, you're, you're seeing unpatriotic pornography, whatever the

01:06:29.100 thing is, they can begin to algorithmically determine that you could be a problem person

01:06:33.040 and we're just going to grind you to a dust to make sure that that doesn't happen.

01:06:36.040 So I find it interesting.

01:06:38.020 Let me switch back to, well, before we move off of China, we're playing a dangerous game

01:06:45.500 because they hold our treasuries.

01:06:49.320 We're having a lot of debt come back up for sale.

01:06:53.020 There's no real buyers, which means we have to raise the interest rates.

01:06:56.480 Um, and, and they do have the leverage to hurt us.

01:07:02.220 Now we have the leverage to, I mean, if we go down, we both go down, right?

01:07:06.500 That's correct.

01:07:06.900 So, but it is a very delicate game that we're playing here.

01:07:12.100 It's a very delicate dance of, it's, it's chemotherapy.

01:07:15.320 What we're engaging in right now is chemotherapy.

01:07:18.000 You might kill the cancer, but the chemo may kill you as well.

01:07:24.860 It's, it's a very fair point.

01:07:26.780 Um, they do hold a significant amount of us debt and they have a, you know, uh, no pun

01:07:32.380 intended Trump card to play that Trump doesn't have to play.

01:07:35.620 And that's labor.

01:07:37.220 China can bring a massive amount of effectively slave, slave labor to bear to shore up any

01:07:43.280 shortcomings they have in technological advances.

01:07:45.700 They can put a hundred million people to projects if they need to at, at basically slave wages

01:07:52.060 to overcome us saying, Hey, we're no longer going to, you know, do manufacturing of this

01:07:56.360 type, or we're no longer going to trade with China.

01:07:58.300 So they have that card that they can play, but that card is very dangerous for them to play.

01:08:02.880 Um, now that they have introduced some levels of capitalist freedom and, and wealth into

01:08:08.120 that country, um, playing that card is very difficult for them to do a certainly more

01:08:12.580 difficult than it was before they inherited Hong Kong and started to adopt some capitalist,

01:08:17.120 uh, and, and how long do we have, uh, with the American people when, uh, what, how much

01:08:23.960 of a leash does, uh, does Trump have with the American people on, for instance, farmers

01:08:30.080 are hurting.

01:08:30.720 They're still saying, you know what?

01:08:32.100 I still trust him.

01:08:33.500 It's going to work out, but they're really hurting when he says, you know, Hey, we can

01:08:38.500 affect, you know, we can take another 10 or 20% on our iPhones.

01:08:42.240 Once that really starts hitting and impacting people.

01:08:44.820 No, they're, they're not going to put up with it for very long.

01:08:47.520 I agree with that.

01:08:48.420 It's, it's very much like we just saw with, with France and a 10% increase in gas prices.

01:08:53.180 You know, there was an assumption that these people support a green economy, um, 10% more,

01:08:57.700 they'll pay it because they support this.

01:08:59.340 But when the reality gets there and you're paying 20% more for your iPhone, or if you're

01:09:03.500 a parent, you're four kids iPhones, all of a sudden that starts to have a significant

01:09:07.720 impact to your disposable income.

01:09:09.820 Um, one other thing I wanted to touch on that, that you brought up, and I just want to bring

01:09:13.660 it up because, uh, we, we talked five or six years ago about the fact that the fed had

01:09:19.640 run out of bullets.

01:09:20.500 The fed jumped in and saved the economy.

01:09:22.460 They pumped 4 trillion plus into the economy.

01:09:24.960 They loaned a bunch of money out at 0% interest and they lowered interest rates to zero and

01:09:29.720 they were out of bullets, but they've reloaded.

01:09:32.140 That's what I thought.

01:09:33.180 Interest rates are back up now.

01:09:34.800 The fed has, you know, interest rates up in the, in the, you know, off loaded some of

01:09:39.420 their debt.

01:09:40.040 Yes.

01:09:40.240 Uh, more than a trillion dollars has expired of the debt that the fed bought the, you know,

01:09:44.940 treasury instruments.

01:09:45.880 The fed didn't sell them back into the market.

01:09:47.900 The fed just let them expire and got paid back by the treasury.

01:09:51.060 Um, and ostensibly all the profits from that sale went back to the treasury.

01:09:55.920 Uh, if you believe the paperwork that they file.

01:09:59.140 So the fed, the fed has reloaded.

01:10:02.580 Yes.

01:10:03.060 China currently owns, uh, in the neighborhood of 1.7 to $2 trillion of us debt.

01:10:09.320 But the fed could step in and buy that.

01:10:11.440 Now they couldn't have five years ago or six years ago, they were out of bullets, but now

01:10:15.340 they could step in and buy that.

01:10:16.760 They could reload their balance sheet back to 4 trillion and buy all of the Chinese debt.

01:10:20.760 If the Chinese decided to dump it on the market to punish us.

01:10:23.760 When you say that they were out of bullets, do you, was there some sort of statute limitation

01:10:27.880 on the amount of money that they could print?

01:10:29.400 I'm unaware of such or, or no, you just, you can't, when you're at zero, you have no more,

01:10:35.060 you have no other place to go.

01:10:36.460 You have to go to negative interest rates.

01:10:38.140 You have to just start saying, please take this.

01:10:40.320 I'll take, I'll pay you money to take this.

01:10:42.300 Which some, some countries did, obviously in Europe, uh, that happened quite a bit in,

01:10:46.060 in South America.

01:10:47.160 Um, and most of those has stabilized back to zero or, or zero plus interest rates.

01:10:51.620 We certainly could, you know, again, spend that type of ammunition and go zero.

01:10:56.160 The United States never has, but we could.

01:10:57.920 Um, the, the other, uh, again, challenging thing is the other bullets that the fed can

01:11:04.160 always spend is just printing more money.

01:11:06.080 And I don't mean the, the type of money printing they did was to pump that money into wall street.

01:11:10.120 They, they printed a bunch of money, but really they just bought securities and gave loans

01:11:13.580 to big corporations.

01:11:14.860 Very few of us.

01:11:16.020 I mean, you know, poor guys at wall street really needed it.

01:11:18.460 I mean, you know, I was doing okay.

01:11:19.460 I've got a canoe.

01:11:20.620 I don't need any more money.

01:11:21.840 Um, so, but they could do that other type of printing.

01:11:27.020 They could do the helicopter drop that we've, you know, has been talked about for a long

01:11:30.600 time as the last ditch effort of trying to save an economy.

01:11:33.660 Which is also a great way to, to rob anybody that's actually stored up wealth at any point

01:11:37.260 because you're, inflation is just taxation without legislation.

01:11:41.380 It's a way of like, I'm going to print away.

01:11:43.960 I'm, I'm, I'm, I'm going to make, uh, I owe money.

01:11:46.280 And so I'm going to make my money less valuable so that I effectively owe less money.

01:11:49.720 But if you've, if you've spent 40 years trying to amass a savings account, well, there's

01:11:53.720 40% of your savings account gone.

01:11:55.400 Yeah.

01:11:55.500 Germany taught us that in two years in the twenties and our country has taught us that over 70

01:11:59.600 years since then.

01:12:00.920 Same lesson.

01:12:01.760 All right.

01:12:02.120 Um, back in just a second.

01:12:03.240 I do want to talk to, uh, uh, Justin about this, um, this sentiment, this pessimism that

01:12:11.320 is, is really kind of put a damper around the entire world and its effect.

01:12:19.360 And we haven't seen this kind of pessimism even during the great depression.

01:12:24.040 So we'll talk about that coming up, uh, with, uh, Justin Wheeler.

01:12:27.360 He's, uh, my, uh, researcher for the economy and the stock market and, uh, and how it all

01:12:34.860 fits together more in just a second.

01:12:36.780 First, let me tell you about life lock, another data breach, major hotel chain announced massive

01:12:43.860 data breach exposed up to 500 million customers.

01:12:46.840 Justin, maybe, you know, who, who would that, I mean, what, what hotel chain has 500 million

01:12:53.460 customers, their passports, uh, numbers, their social security card, their credit card and

01:12:58.720 all of that.

01:12:59.560 Who do you suppose that was?

01:13:01.600 Could have been Marriott.

01:13:03.440 Could have been Marriott.

01:13:04.600 Uh, anyway, billions of records have been stolen through, uh, stolen through, uh, the last

01:13:09.380 just couple of years through just, just little cracks in the system.

01:13:12.620 It's going to hit you and you can't, I mean, you just can't protect yourself against everything

01:13:17.680 life lock now with Norton security life lock uses a technology that they've built that only

01:13:24.740 they have that detect and alert you to a wide range of identity threats, uh, threats.

01:13:29.140 The, uh, the Norton security edition protects your devices against cyber threats like malware

01:13:34.920 people trying to hijack your systems.

01:13:37.960 Now, nobody can prevent all identity theft or cyber crime or monitor all transactions

01:13:41.600 at all businesses, but these guys are the absolute best.

01:13:44.620 And right now, if you go to lifelock.com and use the promo code back, you'll get an additional

01:13:49.100 15% off your first year.

01:13:51.920 That's promo code back extra 15% off now at lifelock.com.

01:13:57.820 We're going to talk, um, uh, some more about the economy, but, uh, but more about the psychology

01:14:08.760 of what is going on and what's happening, uh, in the world.

01:14:12.660 We're entering a time of pessimism that we have not seen.

01:14:16.640 Well, what's the name of this wave called Elliot wave theory, Elliot wave theory.

01:14:20.900 Um, but, uh, it's a, it's a really interesting thing to see it's tied to the markets, but

01:14:27.080 I, I think it's more interesting to look at it just as a, uh, as a, uh, as a gauge of

01:14:34.060 society and what, what it actually could mean in, in a million different ways.

01:14:40.220 We'll talk about that coming up in just a second.

01:14:42.680 And also, uh, Rudolph, uh, has, uh, spoken Rudolph, the red nose reindeer, the actual,

01:14:50.040 the one, the lady who played Rudolph.

01:14:52.860 I didn't, I didn't know it was a woman that played that.

01:14:56.420 Now, I guess I could be offended that I've been lied to my whole, uh, my whole year,

01:15:00.140 my whole life that it was a, that the Rudolph was a boy, but still a reindeer though, right?

01:15:05.320 Well, I'm not sure.

01:15:06.620 Okay.

01:15:06.800 I'm just making sure.

01:15:07.500 I don't want, I don't want that element of my child to take it away.

01:15:09.320 I assume they trained a reindeer to talk.

01:15:10.880 Uh, she has spoken out about all of this nonsense back and forth.

01:15:14.200 And she basically said, uh, don't watch it.

01:15:17.200 You don't like it.

01:15:18.000 Don't watch it.

01:15:19.180 Leave it alone.

01:15:20.420 We'll give you all of that coming up in just a second.

01:15:26.900 Hey, it's Glenn.

01:15:27.840 And I want to tell you about something that you should either end your day with or, um,

01:15:32.100 start your morning with.

01:15:33.680 And that is the news and why it matters.

01:15:36.580 If you like this show, you're going to love the news and why it matters.

01:15:40.060 It's a bunch of us that all get together at the end of the day and just talk about the

01:15:43.880 stories that matter to you and your life.

01:15:46.440 The news and why it matters.

01:15:47.580 Look for it now, wherever you download your favorite podcast.

01:15:51.540 Glenn Beck.

01:15:54.120 You know, Christmas is the gift that just keeps on giving, uh, for the radical leftist.

01:15:58.980 Uh, the, the, the charade goes on year after year where decent folks across the country

01:16:03.280 just try to enjoy and celebrate Christmas.

01:16:04.980 You know, the most wonderful time of the year.

01:16:07.420 Why is it the most wonderful time of the year?

01:16:10.320 Why is it?

01:16:11.680 Because you kind of generally act like a human being for maybe a couple of days.

01:16:17.780 You're like, ah, you know what?

01:16:19.540 I'm going to pretend to care about people.

01:16:22.200 I'm going to be nice to people.

01:16:23.880 I'm going to smile and say, Merry Christmas back to you.

01:16:27.360 It's the most wonderful time of the year that militant progressives don't like at all.

01:16:35.620 And it's a little exhausting.

01:16:36.900 It's got to be here.

01:16:38.260 Come on.

01:16:38.640 You're not really outraged by Rudolph.

01:16:40.900 Are you really, really?

01:16:42.260 That's what you got going on in your life.

01:16:44.400 I mean, the thing's been on the air since 1964.

01:16:46.560 And first of all, if this is the first year that you've noticed that Santa was a jerk in that, where were you?

01:16:54.700 You don't like Christmas and it's totally fine.

01:16:57.140 It is.

01:16:57.680 I'm totally fine with that.

01:16:59.040 But could you just be cool with people who do like Christmas?

01:17:02.520 You know, there's tons of people out there that celebrate Christmas and they're tired of their happiness being held hostage by an extreme minority, sometimes just one person going, I don't like that.

01:17:17.300 No, sir.

01:17:18.120 I don't like that at all.

01:17:19.540 Well, this year, a self-described unintentional Grinch who stole Christmas is in the lead to win Scrooge of the Year, the principal at Manchester Elementary in Omaha, Nebraska, Omaha, Nebraska.

01:17:34.460 She sent her teachers a memo this week outlining all of the Christmas related items and activities that will not be allowed in the classroom.

01:17:43.460 And you will not have an extra scuttle of coal.

01:17:46.720 The band list includes Santa, Christmas trees, Elf on a Shelf.

01:17:54.560 Oh, man, I I'm for execution for the person who came up with Elf on the Shelf myself, but singing Christmas carols, playing Christmas music, making an ornament as a gift, any red or green items.

01:18:09.840 Oh, hates the planet and communism.

01:18:11.920 I see reindeer and candy canes.

01:18:15.300 Now, not because the sugar will make the children hyper because I guess Halloween was OK.

01:18:21.980 But as the principal explains, the candy cane is shaped like the letter J for Jesus.

01:18:30.900 She also writes red is for the blood of Christ and white is the symbol of his resurrection.

01:18:38.220 Oh, my gosh.

01:18:38.680 I am so offended by her memo.

01:18:40.220 What kind of stuff is she trying to preach in case you try to cheat?

01:18:45.260 Different color candy canes are also not allowed because they still have the first letter of Jesus.

01:18:52.580 So why is this principal going out of her way to delete any trace of Christmas in her school?

01:18:57.480 She says, quote, I come from a place that from a place that Christmas and the like are not allowed in schools.

01:19:04.840 Where is that Russia?

01:19:07.780 Where where is that?

01:19:09.880 Her list, quote, aligns with my interpretation of our expectations as a public school who seeks to be inclusive and culturally sensitive to all of our students.

01:19:21.480 No, you miss under the word.

01:19:23.020 Understand the word inclusive.

01:19:24.680 What about being inclusive and said and and sensitive to those students, probably the vast majority who do celebrate Christmas?

01:19:40.340 I mean, does your kid have to celebrate Ramadan and I don't know, eat the food or whatever the hell that is?

01:19:45.940 I mean, nothing against Ramadan.

01:19:47.260 That's fine.

01:19:47.760 You want to do Ramadan.

01:19:48.700 That's fine.

01:19:49.240 I don't care.

01:19:50.540 I don't care that you teach my kids about Ramadan.

01:19:52.780 Can you stop with a hate on Christmas and Christianity?

01:20:00.180 Can you ask yourself?

01:20:03.560 Are you the only one that doesn't feel like Christmas is the most wonderful time of the year?

01:20:07.500 Now, I think it's gotten less so since I was a kid, but that just might be because I'm getting old and grumpy.

01:20:14.540 But I know when I was a kid, it was the most wonderful time of the year.

01:20:17.680 It was a it was a it was a time of new expectations, new hopes.

01:20:23.800 It was a time.

01:20:25.580 I remember when the snow would fall and everything would be quiet outside and it just brought peace.

01:20:32.080 Now, far as I'm concerned as well.

01:20:35.560 Snowing the day after Christmas doesn't help anybody's mood.

01:20:40.080 Snow between Thanksgiving and Christmas is delightful.

01:20:43.560 Why?

01:20:45.520 Why?

01:20:49.360 Christmas.

01:20:52.140 I mean, do we how do we miss that Christmas has the word Christ in it?

01:21:00.320 Christmas has been diminished over the years.

01:21:03.220 No offense, Rudolph by Rudolph and Santa and everything else.

01:21:06.440 Those are still wonderful traditions.

01:21:08.220 But we celebrate Christmas to remember.

01:21:13.860 What a crazy cool dude Jesus grew up to be.

01:21:19.560 What a crazy.

01:21:21.280 I don't care if you even believe it.

01:21:25.060 What a great gift given to humanity that you can be forgiven for even the worst things you've ever done.

01:21:32.800 I don't want to live in a world where there is no forgiveness.

01:21:35.820 I don't want to live in a world where I can't I do something stupid.

01:21:41.900 And it's going to hang over my head for the rest of my life.

01:21:45.340 I mean, we were already seeing that it's called the Me Too movement.

01:21:49.100 You say something in 1971 to somebody.

01:21:53.080 God forbid that's hanging over your head.

01:22:02.180 Christmas.

01:22:02.660 It's the most wonderful time of the year for a reason.

01:22:07.860 And I don't care if you think it was Christ that brought this peace.

01:22:11.920 Or, you know, I don't care.

01:22:15.240 You know, Mohammed, the Ramadan dog, whatever.

01:22:19.040 I don't know what God forbid you'd have any kind of legend spring out of anything Islamic.

01:22:24.660 They would have killed the makers of that Rudolph the Red-Nosed Reindeer if that had been done for Mohammed.

01:22:32.480 So, I don't care how you think we got here.

01:22:36.980 It worked.

01:22:38.620 It worked.

01:22:40.120 It creates magic and hope and kindness for just a few days out of the year.

01:22:46.940 Leave it alone.

01:22:48.040 It's Thursday, December 6th.

01:22:55.440 You're listening to the Glenn Beck Program.

01:22:57.360 We're an Arbor Day family.

01:23:02.460 You're an Arbor Day family?

01:23:03.740 We're an Arbor Day family, yeah.

01:23:05.020 Yeah.

01:23:05.300 And you have the same feelings about Arbor Day.

01:23:07.840 Yeah.

01:23:08.080 Yeah.

01:23:09.460 It's the most wonderful time of the year.

01:23:11.680 Really?

01:23:11.920 And I just, I bothered about everybody taking the spirituality out of Arbor Day.

01:23:16.680 Yeah.

01:23:17.080 It's pretty much the exact same monologue.

01:23:18.900 So, you have a thing with Arbor Day.

01:23:20.980 You must hate Christmas because that whole thing is around cutting down trees.

01:23:25.320 Yeah.

01:23:25.820 You know, well, for those of us.

01:23:27.120 It's kind of the anti-Arbor Day, isn't it?

01:23:28.600 For those of us that are Arbor Day enthusiasts, you know, it's a lot of, it's birth and renewal and all of that.

01:23:33.100 So, eventually, you're going to get them Yule logs.

01:23:35.880 And that's, you know, it's a holiday that gives to a lot of other holidays, Arbor Day.

01:23:40.320 So, you know, we cut down the Christmas tree, went to a tree farm, cut down the Christmas tree, and then we put it in a bucket of Miracle-Gro.

01:23:49.100 And because we had a friend say, I did that last year, and it started sprouting roots again.

01:23:56.100 And they went out and they planted it, and it grew.

01:24:01.500 That's really cool.

01:24:02.200 That's really cool.

01:24:03.480 And so, my kids are like, oh, we could use that next year.

01:24:06.420 And I'm like, don't you, I mean, I think cutting a tree down once, it'd be like sprouting roots, and they'd be like, oh, come on.

01:24:14.780 You're just torturing this poor tree year after year.

01:24:17.860 The tree every time you walk by is like.

01:24:19.400 I will come back stronger.

01:24:20.600 And then the following year, you chop it down again.

01:24:22.980 Oh, but this time I will rise.

01:24:24.840 No one will ever destroy me.

01:24:26.400 Every time you go outside, it's like, no, it's not the time now.

01:24:31.260 It's like a turkey that you kill over and over again.

01:24:34.820 What if you did this?

01:24:35.440 Okay, what if you built, like, a new room in your house with 15-foot-tall ceilings, and it was the Christmas tree room, and then you just, like, hide the tree the rest of the year.

01:24:44.060 So, keep the tree in there and have, like, a glass ceiling, right?

01:24:47.600 And then just, like, put gauze around the tree so that it's camouflaged.

01:24:52.840 And then around Christmas, you just take the gauze off, and then you don't have to chop the tree down.

01:24:55.400 Wouldn't that be a weird thing to have in your living room?

01:24:57.400 Just this kind of, like, this, I guess you could dress it as a ghost for Halloween?

01:25:03.380 We have one in my living room.

01:25:05.280 We have a Christmas tree.

01:25:06.420 And then the rest of the year after Christmas, it gets redecorated as a Dodger tree.

01:25:10.860 Okay.

01:25:11.200 And we put our Dodger season tickets on it and Dodger player cards.

01:25:14.080 You have an actual tree?

01:25:15.620 Well, it's a plastic tree on our mantel.

01:25:17.340 Yes.

01:25:18.500 Wow, you go all out.

01:25:19.860 Well, we're in L.A.

01:25:20.740 Yeah, okay, yeah.

01:25:21.760 Would they kill you for a Christmas tree in L.A.?

01:25:26.520 I'm not sure.

01:25:27.500 Oh, I think absolutely.

01:25:28.740 Yeah.

01:25:29.080 Unless it's plastic.

01:25:30.400 Unless it's plastic.

01:25:31.100 Okay.

01:25:32.000 So we have Justin Wheeler joining us.

01:25:34.680 And Justin does research for me on the economy and stock market.

01:25:39.220 And, you know, I've been looking at the stock market and saying, well, this is exciting.

01:25:43.420 Uh, and, and as we were exchanging, uh, thoughts the other day, uh, you told me about the Elliott

01:25:49.960 wave and I had not heard about the Elliott wave, uh, and explain it here.

01:25:55.360 Sure.

01:25:56.420 Um, so the Elliott wave is, is, uh, a theory that postulates that markets respond to social

01:26:02.560 moods, uh, positive and negative.

01:26:04.500 Um, the way I've had it explained best to me, I think is this, imagine you had the capacity

01:26:08.640 every day to take a survey of millions and millions of people, uh, in the U S and around

01:26:14.160 the world constantly about how they're feeling minute by minute.

01:26:17.820 How are you feeling optimistic or pessimistic?

01:26:20.600 And you could do that survey, not just by asking them questions.

01:26:23.860 You can actually delve into their subconscious and detect how they were feeling at any given

01:26:29.540 moment.

01:26:30.140 Are you optimistic or are you pessimistic?

01:26:32.520 Um, R N Elliott in the 1930s postulated, we actually have that measure.

01:26:37.940 We do that survey constantly.

01:26:39.820 We are constantly measuring how people feel in terms of optimism versus pessimism.

01:26:44.540 And we do it in markets.

01:26:46.600 We do it in the stock market.

01:26:47.860 We do it in other financial markets and money markets.

01:26:50.380 We do it with bonds.

01:26:51.500 Those markets move minute by minute minute.

01:26:54.240 In fact, second by second based on how people feel, do they feel optimistic or do they feel

01:26:59.120 pessimistic at that instant?

01:27:00.900 And you can start to spot those trends over time.

01:27:03.840 So now you can see this in things like, for instance, cryptocurrency right now, cryptocurrency,

01:27:08.980 even though it has all of these great things that are happening, people are like, oh, I don't

01:27:13.140 trust cryptocurrency because I saw what happened last time.

01:27:15.680 And so they're very pessimistic on it.

01:27:18.260 Uh, and as soon as that goes away and people are like, you know what?

01:27:23.080 I think this really, there is something to this.

01:27:25.560 All of a sudden it will skyrocket again.

01:27:27.520 That's right.

01:27:28.100 Correct.

01:27:28.400 That's exactly.

01:27:29.100 So that's an individual case.

01:27:31.220 But the Elliott wave not only does for individual cases, but for the overall sentiment, right?

01:27:37.500 Correct.

01:27:37.960 Is this an index or I mean, is there an actual way of going with the Elliott wave is currently

01:27:41.800 at 6.2 or is this just the theory of looking at the market as a reference for?

01:27:45.840 Yeah, there certainly are analysts who have tried to create composites of various things

01:27:50.720 like the Dow Jones Industrial Average, the S&P 500, uh, you know, various bond markets.

01:27:55.820 They've tried to create composites and say, if we add all of these together, this is what

01:28:00.080 the wave looks like in terms of an Elliott index of one to a hundred or one to a thousand.

01:28:05.080 Most Elliotticians though today, uh, and the, the modern father of, um, uh, of Elliott wave

01:28:11.440 theory is a man named Robert Prechter.

01:28:13.020 They just simply leverage the markets that are already there.

01:28:16.280 And what they're looking for are degrees of movement between a top and a bottom.

01:28:21.600 What RN Elliott postulated is the markets move in repeatable recurring waves.

01:28:27.200 It's not randomized.

01:28:28.340 The, our, our mood is not some random set of things that just occurs completely at random

01:28:32.320 all the time.

01:28:32.920 It moves in waves.

01:28:34.580 We as civilizations move in cycles, Kondratia cycles, for example, and markets follow those

01:28:42.000 cycles.

01:28:43.020 Kondratia spotted it in a very different way.

01:28:44.720 He wasn't looking for social mood or, or how people felt.

01:28:47.240 He was just looking at the pure economics of, of the model.

01:28:49.580 He wasn't thinking of why are markets moving this way.

01:28:51.960 He just said, well, they do, they do move this way.

01:28:54.160 And he created these long K waves that, that analysts still use today.

01:28:58.480 RN Elliott's addition to that was simply that what is driving those markets is not, you know,

01:29:03.500 just some structured, uh, uh, economic model of it's going to move this much.

01:29:07.760 And then this much, what a lot of financial analysts look at it.

01:29:10.160 He said, the way people feel is what drives the market.

01:29:12.860 Our social mood is the driver behind the markets, not the markets, the driver behind our social

01:29:17.520 mood.

01:29:18.320 It's, it's why there is when you're creating a bubble, there comes a time when everybody

01:29:23.600 starts jumping in, you know, and it's irrational.

01:29:26.980 It is.

01:29:27.620 And, and it's just because the mood is so high that things are going to be great.

01:29:33.800 Um, and so everybody jumps in.

01:29:36.320 That is, that's a negative effect of the Elliott wave, if you will.

01:29:40.740 Correct.

01:29:41.140 So that, that, you know, we've heard that of course, from, uh, analysts calling it

01:29:44.880 irrational exuberance, uh, the famous Greenspan quote, spirit animals and all that stuff.

01:29:48.680 Yes.

01:29:48.900 And of course, getting the spirit animals, this has been studied, of course, as far back

01:29:52.480 as, as markets had numbers that you could track over time.

01:29:55.480 The, the tulip mania, of course, uh, uh, hundreds of years ago.

01:29:59.460 And, um, and we can, you know, look at the, the European stock markets and the British stock

01:30:04.660 market leading into our own stock market.

01:30:06.600 The really, the fascinating thing that comes out of Elliott wave, of course, you can use

01:30:10.700 it for financial and, uh, analysis and hundreds and hundreds of financial analysts do.

01:30:16.720 There's lots of newsletters you can go subscribe to.

01:30:19.120 There are people who will bet their entire portfolios that the market's about to decline 20% based

01:30:23.960 on what the Elliott wave theory says is going to happen.

01:30:26.780 And based on how many people are getting into the market, that's a bad sign.

01:30:29.900 If everyone's getting into the market right now, uh, very much like we saw in 19th,

01:30:33.940 Is this a bubble coming?

01:30:34.580 That's right.

01:30:35.080 You're in a bubble.

01:30:35.760 The taxi driver is literally taking their fares that they earned that day.

01:30:39.180 And at four o'clock, they're stopping at wall street and dropping them off to a broker

01:30:42.460 to buy stocks.

01:30:43.140 They don't even care which ones just buy me some stock.

01:30:45.940 And that would be a very clear sign that you are in a period of irrational optimism, irrational

01:30:52.060 exuberance that is not tied to fundamentals of, of the markets or of individual stocks.

01:30:56.520 Um, the same thing occurs at the bottom.

01:30:58.580 You get tied into irrational negativity and there's no reason to be this negative about

01:31:03.540 Bitcoin.

01:31:03.960 The fundamentals are actually quite strong related to that currency and the new markets.

01:31:08.320 It is having the opportunity to expand into in South America, in Asia, in Africa, um, where

01:31:13.920 they're jumping right over paper currencies and going there, you know, they're really going

01:31:17.220 from food trade to cryptocurrencies to bypass the government, uh, inflation that they could

01:31:22.760 otherwise.

01:31:23.520 Yeah.

01:31:23.620 It's great for them.

01:31:24.640 So, uh, there's also a rash, irrational negativity around individual markets, but that's really

01:31:30.500 the time you should buy in from a wave theory perspective.

01:31:32.860 You want to sell the peaks and you want to buy the troughs.

01:31:35.700 The other thing that comes out of wave theory though, is the socioeconomic negativity that

01:31:40.500 you see.

01:31:41.200 Okay.

01:31:41.560 And that's where I want to go next.

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01:33:36.400 Talking to Justin Wheeler, who is, um, talking to us a little bit about the economy and what's

01:33:41.100 happening.

01:33:41.540 We've talked about China and, uh, what the speculation is, uh, and this would be great if this is what

01:33:47.440 Trump is really trying to do.

01:33:48.680 He's trying to pull down China, uh, uh, a bit, um, and, uh, make things very uncomfortable

01:33:55.340 for the communist, uh, regime.

01:33:57.180 Um, but I want to talk about this, this Elliot wave as something that we're now seeing, um,

01:34:05.000 go into the pessimistic side of the Elliot wave.

01:34:08.780 And it is, it's all encompassing, right?

01:34:11.400 It's not just one sector.

01:34:13.480 That's right.

01:34:14.180 Um, again, if you think of looking at financial markets as a mechanism to measure, uh, positive

01:34:20.080 upswings and mood and, and negative downturns in mood, um, one of the interesting things

01:34:26.160 about Elliot wave that makes it differ significantly, I think from other forms of technical analysis

01:34:31.400 is that most forms of technical analysis and most financial market analysis, or, uh, just,

01:34:37.080 you know, general social mood analysis look for, uh, exogenous events.

01:34:42.360 Something happened in the outside world that made us feel bad, uh, terrorists blew up the

01:34:47.640 world trade center in 2001, and we entered a period of negative social mood.

01:34:52.300 The funny thing is the market started crashing 18 months before terrorists ever blew up those

01:34:57.200 buildings.

01:34:57.500 The markets were crashing in 2000.

01:34:59.540 The attacks weren't until September 11th of 2001.

01:35:02.600 So the markets were crashing for a full 18 months and 80% of the total value that the markets

01:35:07.580 lost in, in total going into the end of 2001 happened before the September 11th attack attacks.

01:35:14.100 Wow.

01:35:14.440 Not prior.

01:35:15.240 Wow.

01:35:15.620 So one of the interesting things at, in looking at measuring social mood, um, not just for

01:35:20.480 financial markets is the fact that things like wars occur when financial markets are depressed,

01:35:26.880 not before.

01:35:28.600 Okay.

01:35:28.720 So let's, uh, I'm going to have him lay this out and then tell us what it means, um, uh,

01:35:34.840 for us right now and for the future.

01:35:37.580 Back in a second.

01:35:41.940 Justin Wheeler is, uh, with me and, and he's, uh, somebody who watches the stock market and

01:35:47.420 the economy and the fed and everything else.

01:35:50.200 And, and, uh, we, we communicate several times a week, usually with me alone, what the hell

01:35:55.680 does this mean?

01:35:56.620 Um, and we were talking about, uh, this, this pessimistic mood that has come across, uh, the

01:36:03.340 country and the world.

01:36:04.660 And we haven't seen it.

01:36:06.580 We haven't seen it this way since when I know we went through it kind of in the sixties,

01:36:11.860 but how pessimistic are we right now as a world?

01:36:16.280 It is growing significantly.

01:36:17.880 I mean, the, the U S is a little bit of an anomaly right now.

01:36:21.120 Um, financial markets around the world peaked years ago and have been declining for years.

01:36:25.440 We, we haven't seen, you know, uh, all, all time new highs in any markets that really except

01:36:30.540 the U S and a few emerging markets, um, uh, for quite some time.

01:36:34.040 A lot of the European markets peaked in 2012 and they've been declining since then.

01:36:38.480 We see a lot of that pest pessimism manifest in what goes on in those countries.

01:36:43.380 France is a great example.

01:36:45.300 Um, the, the, the postulate behind Elliot wave is that as that, you know, negative social

01:36:52.080 mood and that pessimism starts to take hold and we as a society start to herd around that

01:36:58.180 we start to, well, that's how the group is responding.

01:37:00.920 The group is pessimistic.

01:37:02.220 Well, I need to be pessimistic too.

01:37:04.040 And you start to glob onto those groups.

01:37:05.840 And if your group is pessimistic, then you're just going to feel that way because there is

01:37:09.700 safety in that herd.

01:37:10.940 There's safety in that group.

01:37:12.480 Um, and certainly I think we've started to see the very strong manifestations of that,

01:37:16.860 um, in the anti-Trump movement.

01:37:19.020 They're so pessimistic now about, uh, about him and about the future of the world or America

01:37:26.040 at the very least with him in power that they can't find positivity anywhere.

01:37:32.020 They just can't, they can't seem to find a happy note to talk about, uh, you know, for

01:37:36.640 any particular topic.

01:37:37.760 But they're not really looking.

01:37:39.360 I don't think they're really looking.

01:37:40.700 That's right.

01:37:41.180 And one of the things that occurs when you are feeling that pessimistic, anytime you're

01:37:45.580 depressed, it doesn't matter if, you know, a great comedian comes on TV.

01:37:49.560 Um, you don't necessarily find those jokes funny that day, but another day you would have

01:37:53.700 found those jokes to be hysterical.

01:37:55.180 And so it is one of the, uh, encroaching things that occurs with irrational pessimism and the

01:38:00.800 negative social mood that occurs is that it becomes all encompassing and it snowballs

01:38:05.580 on itself, which is why you see the build up to, uh, financial market growth is often

01:38:10.680 slow, steady.

01:38:11.980 There are some spikes in there, but, um, you know, the, the, the classic model is that the,

01:38:17.100 the road to ruin is rapid.

01:38:18.720 Um, you can build a market over three years and lose it in 30 days.

01:38:22.640 As we saw in 1929, as we saw in 1987, we saw it again in, in 2001, we saw it in 2008.

01:38:28.020 And are we on that doorstep in, in America right now?

01:38:31.740 And that's really the question.

01:38:33.120 There's so much, uh, that you're fighting against with pessimism because there's, we're,

01:38:37.060 we're wired human beings by nature.

01:38:38.920 We feel lost stronger than we feel gain.

01:38:41.460 Uh, in fact, there've, there've been attempts to quantify it.

01:38:43.240 And it's, it's, I think it's like we feel lost twice as hard as we feel gain, which makes

01:38:46.720 us naturally pessimistic, naturally risk averse.

01:38:49.220 Uh, and, uh, it's, it's, I, I'm, I'm actually going over this for, for, uh, what I'm going

01:38:53.560 to be talking about on my podcast later today is this kind of pessimism versus optimism.

01:38:57.500 There was a report that came out.

01:38:58.980 Um, I believe it's the Simon abundant in abundance index.

01:39:02.240 Uh, and, uh, these, um, this came out like maybe last week, uh, a couple of professors

01:39:06.680 went through, uh, data from the IMF and the world bank and, uh, basically everything's

01:39:11.000 cheaper over the last 20 years, everything has become precipitously cheaper.

01:39:14.240 Everything's more abundant.

01:39:15.340 Uh, and for the vast majority of the planet, uh, or I should say,

01:39:18.720 say just for the majority of the planet, the, the, um, like wages have gone up in, in terms

01:39:23.140 of value by like 80%.

01:39:24.360 So we're like, we're rolling.

01:39:25.640 It's really good.

01:39:26.820 But, um, the, the amount of, uh, negative stuff happening all the time, uh, if it's anecdotal

01:39:32.780 is, is broadcast more.

01:39:34.580 And so we intuit that more.

01:39:35.640 Um, I, I just read this fascinating, uh, piece about a thing called sentiment mining

01:39:39.200 where, uh, uh, there's a, uh, I assume an academic, he went through and he came up with

01:39:44.440 an algorithm on the New York times, not to look at the content, but just to look at negative

01:39:48.940 and positive words and to, to buy that, try and infer the tone of the New York times.

01:39:52.740 And you can just see this kind of plunge from like, like 1960.

01:39:56.620 It's pretty optimistic.

01:39:57.260 And then it just, all the way down.

01:39:59.540 And it's not, it's not correlated with any actual material abundance or harm.

01:40:04.060 Everything's been going up in terms of, you know, uh, or I should say the bad things are

01:40:07.820 going down.

01:40:08.160 The good things are going up.

01:40:09.000 I have to tell you, I, I have, I don't know why, but I have been blessed in this last

01:40:15.660 year with much more appreciation for things.

01:40:19.400 Like, honestly, my kids are, they're like, yes, dad, we know about the damn bananas, but

01:40:26.620 like, you know, 19, 19 thirties bananas were not a big deal.

01:40:31.200 Nobody really had bananas.

01:40:32.620 They were, they were in, you know, certain areas of the world you, by the time you got

01:40:36.960 them, they were, you know, Brown and mushy and you didn't have them bananas sit on my

01:40:41.880 counter all the time.

01:40:44.200 And I like bananas when they're just yellow with a little bit of green in them.

01:40:49.800 They start to get Brown.

01:40:50.760 I'm done with them.

01:40:52.200 Um, and my son is the same way.

01:40:54.280 And we've been so picky on bananas.

01:40:56.800 Uh, and I, so he's started doing, you know, I, I mean, it's, you don't want to live in

01:41:02.320 my head, but started looking into bananas and the history of bananas.

01:41:05.580 I know.

01:41:06.040 I want to go down this trail with you.

01:41:07.420 I want to hear about the bananas.

01:41:08.720 Do you know that we wiped them out in the 1950s?

01:41:10.920 It was the 1950s.

01:41:12.160 You know, this just, we, we, we, we wiped them out.

01:41:14.380 Right.

01:41:14.720 So they cover that in veggie tales.

01:41:16.000 Yeah.

01:41:16.280 That's right.

01:41:16.640 Yeah.

01:41:17.500 Terrible.

01:41:18.060 Terrible.

01:41:18.460 Terrible.

01:41:19.180 Yeah.

01:41:19.660 Uh, but anyway, all of the things that we didn't have, even when I was growing up

01:41:26.100 strawberries, you had them once a year, you had them at strawberry season, you get

01:41:32.360 everything whenever you want it now.

01:41:34.220 And it's so cheap.

01:41:35.980 Yep.

01:41:36.380 Uh, in, in my house every year in our Christmas sock at the very bottom, in the

01:41:41.480 toe of the Christmas sock, what we received was an orange.

01:41:45.160 Us too.

01:41:46.100 We got an orange and that was the time of the year that we had access to a fresh

01:41:50.800 orange in our household.

01:41:52.220 Um, you know, growing up in a poor household is great because it gives you that

01:41:56.280 appreciation.

01:41:56.820 When I have an orange today and I get it from Starbucks for 79 cents, I feel, I

01:42:01.240 feel extremely blessed, uh, and lucky that I grew up in a household where the

01:42:05.080 orange at the bottom of my Christmas sock was the best present I got.

01:42:07.820 I remember going to, um, California for the first time.

01:42:12.220 And I was, I maybe was six and, uh, fresh orange juice and fresh oranges.

01:42:19.060 We'd never had that before.

01:42:22.060 You never hand squeezed orange juice and, and you didn't just didn't have that.

01:42:27.700 Maybe if we were lucky, you'd, you know, somebody would buy a, uh, a carton or a

01:42:33.940 crate of oranges and you'd split them as neighbors, but it's not like it is now.

01:42:39.200 Yep.

01:42:39.700 And Andrew's right.

01:42:40.900 By, by the measure of oranges in today's households, we're all rich in the

01:42:45.560 thirties.

01:42:46.040 We should come up with an orange index.

01:42:47.280 And if you go further back, it's even more amazing.

01:42:49.900 Like I, I was, I was doing some, um, diving on, on rather than looking at the

01:42:54.760 prices for things, looking at the man hours for things.

01:42:56.680 And if you go back to like 1800, the man hours you need to put in for an hour of

01:43:00.920 artificial light was like a whole day.

01:43:02.860 So imagine buying a candle at like 1800, buying a candle, that's your whole day is

01:43:07.260 working to read a book for 20 minutes.

01:43:09.380 And now I've got like a Kindle with, I actually, I was last night, a guy came up and

01:43:13.800 looked at my Kindle and it had 600 books on it.

01:43:15.920 I think I've read 15 of them.

01:43:17.000 I think I've spent a lot of money in books.

01:43:18.380 I haven't read, but nonetheless, I was like, that's just amazing that we've got

01:43:20.920 that much information that cheaply available to virtually everybody.

01:43:24.920 To bring it back to the positivity and negativity in terms of social mood.

01:43:28.600 Um, one other thing you said that is, is spot on.

01:43:31.140 Thank you.

01:43:31.620 And, um, in, in Glenn's book, uh, liars, if you have not had the opportunity to read

01:43:36.260 that, we cover this in the introduction.

01:43:38.200 Um, it isn't just that we are drawn to the negative events, uh, as opposed to

01:43:42.580 positive events.

01:43:43.580 Um, we are on the constant lookout for a saber tooth cat.

01:43:47.760 Yeah.

01:43:47.900 Our ancestors had to spot saber tooth cats.

01:43:50.660 They had to see them.

01:43:51.440 If you didn't see the saber tooth cat in the brush, you and your family died.

01:43:55.380 Yeah.

01:43:55.600 That was the reality.

01:43:56.380 So we are constantly programmed to be on the lookout for saber tooth cats that are

01:44:01.440 going to rush out of the bushes and kill us.

01:44:04.340 And that's why we love global warming.

01:44:07.120 I didn't see that coming.

01:44:08.400 Interesting.

01:44:08.980 Okay.

01:44:09.180 You talked about it earlier, but that's why we are addicted to those things.

01:44:12.380 That's why we love movies that are catastrophe movies where the earth is

01:44:15.600 destroyed and LA falls off a cliff because we are constantly on the lookout for

01:44:19.820 that.

01:44:20.340 And the person who spots the, the saber tooth cat is the hero of the village.

01:44:24.520 Uh, I, I think this is, um, something I like playing around with is I like, I like

01:44:28.500 playing around with different mental models.

01:44:29.820 That's different than kind of the traditional right versus left, um, which I

01:44:33.240 think is outmoded.

01:44:34.020 I don't think it's helpful.

01:44:35.260 Um, but one of, one of the models, and this isn't an explanation for everything,

01:44:38.420 but I think it's an interesting model is rather than looking at whether you're

01:44:41.360 conservative or Democrat, look at whether you're optimistic or apocalyptic.

01:44:45.520 And you can, you can see that in both, in, in both sides of all camps.

01:44:49.580 There, there are people that are prone towards, we're all going to die.

01:44:52.480 And there are people that are prone towards, let's go buy some green

01:44:54.940 bananas.

01:44:55.780 Uh, and it's, it's interesting to kind of look at how those mingle with each

01:44:58.380 other.

01:44:58.900 Well, but I'm somebody who, well, first of all, I know that we're all going to

01:45:03.100 die.

01:45:03.860 Um, it's just a matter of time.

01:45:05.860 Uh, whereas I'm like, ah, Microsoft might come up with a brain transplant.

01:45:09.680 You never know.

01:45:10.420 You know, I, I'm, I'm, I'm, I'm very, very optimistic on the future.

01:45:15.460 Uh, cause I believe in people and I believe in, you know, I believe in our

01:45:20.120 saber tooth cat.

01:45:21.420 You, you're going to survive.

01:45:23.480 You're going to survive.

01:45:24.800 And it's probably not going to be as bad as you thought it would be.

01:45:29.100 Um, however, uh, you know, I also know human nature enough to know that it's

01:45:34.780 never been like this and we will recover and we will get, become better.

01:45:40.000 Assuming that, you know, AI, ASI doesn't kill us all.

01:45:43.280 Um, we'll be better for it.

01:45:45.020 We'll be better for it.

01:45:46.340 So, so who am I?

01:45:48.460 Which, which side am I?

01:45:50.280 Uh, I, I'm going to give you credit for the, the optimism, but I do think you,

01:45:54.660 you lend yourself towards the apocalyptic a little bit.

01:45:57.820 Oh no, I clearly.

01:45:59.800 Okay.

01:46:00.100 Then I'll say yes.

01:46:00.840 I think you're the apocalyptic camp.

01:46:02.540 You were afraid to say that?

01:46:03.820 Yes.

01:46:04.160 I think you're, you're, you're, you're more of a cataclysmic.

01:46:06.620 You're, you're, you're, you're drawn to the cataclysmic side of things.

01:46:08.740 Uh, and, uh, yeah, yeah.

01:46:11.360 And that's why I'm such a delightful guest is I'm, I'm, I'm the congenital optimist.

01:46:15.800 And the thing is, is that you have to have both.

01:46:20.040 You have to have both in society.

01:46:22.520 And that's why we're, we're so polarized now because everybody wants only their point

01:46:28.520 of view, but you have to have, you said it this morning, you said you're not a

01:46:32.900 morning guy.

01:46:33.580 No, I'm not.

01:46:34.660 I'm not.

01:46:35.580 And what was your theory behind morning?

01:46:37.720 Oh, okay.

01:46:38.680 So all right, morning people.

01:46:40.960 I'm so happy for you.

01:46:42.620 I'm so impressed that you woke up this morning and you did your taxes and then you jogged

01:46:47.000 around the neighborhood and walked the dog all before I woke up, which was like rising

01:46:50.560 from death.

01:46:51.500 Uh, no, I think that, um, to, to go back to the saber tooth model, our cousins are our,

01:46:56.580 our, our, our great grandparents that were fending off, uh, saber tooth tigers.

01:47:00.420 Uh, there was a moment where we're all getting tired.

01:47:02.840 We're all around the campfire somewhere there in the Serengeti.

01:47:04.740 And someone said, we're all so tired, but I think I heard a tiger and some valiant evening

01:47:10.300 person like me, when you guys go to sleep, I'm going to sharpen a stick and stay awake.

01:47:15.180 And they killed that tiger.

01:47:16.740 And, and evening people saved the species.

01:47:19.720 We would all be tiger food.

01:47:20.820 And the Neanderthals would be the cock of the walk if it hadn't been for us.

01:47:24.460 And, uh, and then the industrial revolution happened and clocks came about and morning

01:47:27.240 people took over.

01:47:28.140 Well done.

01:47:32.740 Something's off with Andrew Heaton.

01:47:34.420 It's a, uh, podcast, uh, that you can get now only on the place.

01:47:38.440 Is that the only rant I've ever done?

01:47:41.800 The only tirade I have is about morning people.

01:47:44.060 It is, it is, which is charming, which is quite charming.

01:47:48.420 Justin Wheeler.

01:47:48.960 Thank you so much.

01:47:49.800 And, uh, thanks for teaching us a little bit this morning.

01:47:52.660 Happy to be here.

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01:49:06.700 So yesterday we told you that, um, there are a couple of things, uh, going on that MasterCard

01:49:15.600 and Microsoft, uh, have, uh, have a team together to create digital identities.

01:49:22.580 Now I heard from a lot of people that were saying, Oh, Glenn, stop panicking.

01:49:26.840 That's not a bad thing.

01:49:28.060 Okay, sure.

01:49:29.660 MasterCard announced voting, driving, applying for a job, renting a home, getting married,

01:49:33.920 boarding a plane.

01:49:34.700 What do these all have in common?

01:49:36.000 My answer was all the things that social credits, uh, in China can stop you from doing theirs was you need to prove your identity.

01:49:46.420 And that's why MasterCard and Microsoft have teamed up to create a universally recognized digital identity.

01:49:55.000 Okay.

01:49:55.760 Sounds to me the difference between 1984 and brave new world, but maybe that's just me.

01:50:00.480 Then told you also yesterday that there is a gun bill that is now, uh, circulating in the house, uh, in, uh, uh, in New York.

01:50:12.480 And if you want to buy a gun, you have to turn over three years of your social media history, uh, and your internet search history to buy a gun.

01:50:24.240 Okay.

01:50:26.380 Okay.

01:50:27.580 Um, all right.

01:50:29.940 I guess that's common sense.

01:50:31.340 It'll make everybody feel better.

01:50:32.520 They say you should have seen this online.

01:50:35.280 Well, yes, but then again, who's judging this and what is the definition of hate speech?

01:50:44.060 And what are the parameters, uh, of this?

01:50:47.440 Then today, another announcement from Microsoft, Microsoft's top lawyer says it will never,

01:50:54.220 never shy away from providing AI powered weapons to the U S military.

01:50:59.420 We at Microsoft have the military's back.

01:51:03.620 Now, again, good.

01:51:09.900 I'm glad, except I don't think we should be teaching artificial intelligence to kill people.

01:51:20.240 Now, maybe that's just me, but I'm a little old fashioned.

01:51:24.220 If we're going to kill people, let's actually have a human do it.

01:51:29.440 Pay an American to do that.

01:51:30.780 That's a, that's a job that could go to an American.

01:51:32.560 You don't want to automate that.

01:51:34.460 That'll run off jobs.

01:51:35.960 And they, they keep saying that, you know, well, it still has the human kill switch.

01:51:39.300 I mean, the humans still have to push the actual kill switch.

01:51:41.900 That is the big thing.

01:51:42.940 Elon Musk is big on, right?

01:51:44.100 Cause he's, it's not specifically military, but he's, he's saying AI might kill all of us.

01:51:47.940 Don't like, like be careful.

01:51:49.560 And I know you think that I'm, I'm a pessimist.

01:51:52.560 This one, I'm kind of, you know, like super robots killing people.

01:51:55.620 I understand the cause for some, some concern there.

01:51:58.680 Fear, not the robot fear, the goals of the robot.

01:52:01.560 And if the goal is to eliminate all hate speech and those who are pushing hate speech, fear that goal because it will execute it with perfect exactness and it will not stop until all hate speech stops.

01:52:19.680 That doesn't sound good for humanity.

01:52:23.020 Glenn Beck, Mercury.

The Glenn Beck Program - December 06, 2018

A 'Kind' Greatness？｜ Guests： Steve Deace & Gavin McInnes ｜ 12⧸6⧸18

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