The Glenn Beck Program - March 16, 2020


Best of The Program ｜ 3⧸16⧸20


Episode Stats


Length

43 minutes

Words per minute

161.47145

Word count

6,988

Sentence count

558

Harmful content

Misogyny

4

sentences flagged

Hate speech

1

sentences flagged


Summary

Summaries generated with gmurro/bart-large-finetuned-filtered-spotify-podcast-summ .

The coronavirus outbreak continues to grow and the death toll continues to rise. Is this a media hoax? Or is this a real problem? Is this something that needs to be dealt with? What are the long-term implications of this outbreak? And is this just the beginning?

Transcript

Transcript generated with Whisper (turbo).
Misogyny classifications generated with MilaNLProc/bert-base-uncased-ear-misogyny .
Hate speech classifications generated with facebook/roberta-hate-speech-dynabench-r4-target .
00:00:00.160 Welcome to the podcast. What a crazy weekend. We are here now looking at a totally new world,
00:00:06.480 some kind of a totally new reality with the COVID-19 situation. We go through a lot of that
00:00:11.560 today. There's some stuff that's really important and serious. Glenn has some information that is
00:00:18.640 not really anywhere else that you're going to need to know on this and the effects and how
00:00:23.960 this is all going to play out. We get into that today. We also, it was a little fun to be had
00:00:29.340 as well, because honestly, we're all going to go insane if we don't laugh at this at least a little
00:00:33.480 bit. We'll get into that as well. And the big coronavirus update, I mean, the numbers are
00:00:39.060 increasing at really scary levels right now. That's why people are afraid. Is this real? Is
00:00:44.160 this some media hoax? It's not a media hoax, but it is, it still doesn't mean that they won't treat it
00:00:51.080 in this typical ridiculous way they've been treating everything else. Glenn will have more
00:00:55.640 on this on Wednesday night on TV. Also, I'll be talking about it tonight on Stu Does America.
00:00:59.760 You can get that, of course, wherever you get your podcast. You're probably on a podcast app
00:01:03.600 right now. Just go over, click Stu Does America, and click subscribe while you're there. We'll be
00:01:08.880 talking about that tonight. You can get that on YouTube as well. Here's the podcast.
00:01:12.260 All right, it is Monday, the 16th of March 2020. Let me give you the look into where we are on the
00:01:36.160 coronavirus. Total cases confirmed worldwide, 171,000. That is up from 136,000 on Friday.
00:01:45.620 Total confirmed deaths worldwide, 6,531. That's up about almost 2,000 deaths worldwide. Total
00:01:56.460 confirmed recoveries, 77,000. That's up 7,000 from Friday. 158 countries now have confirmed. That was
00:02:05.080 129,000 on Friday. Four more have suspected cases. 7% of active cases are now considered serious. This
00:02:12.900 is the best news. Three weeks ago, that number was 19%, down on Friday to 9%, and today, three days
00:02:22.420 later, 7% of active cases are considered serious, requiring hospitalization. This will be really good
00:02:29.720 news if we don't overwhelm our health system with other people going, I've got to have a test. No,
00:02:37.040 you're not going to get a test unless you have the symptoms. You don't need the test. I want to thank
00:02:44.220 our private industry, CVS and Walgreens and Walmart and all of these people that are involved now on the
00:02:52.140 private level. You're going to start seeing tents go up in your area at some of these places where
00:02:57.780 you're going to be able to have the swab test at one of those stores. And the vice president
00:03:03.580 announced yesterday that all of them are going to be free. So you're not going to have to worry
00:03:08.480 about it. Now, is this a sign of things to come? By the way, U.S. has 3,802 confirmed cases and 69
00:03:18.060 deaths. That's up from 1,700 cases and 41 deaths on Friday. You're going to see this number skyrocket.
00:03:25.440 We are at the beginning of that hockey stick curve that we had in China and we've seen all over the
00:03:31.500 world. We are also doing more tests, but we are now just at the beginning. If you think you're
00:03:37.540 getting rid of your kids in two weeks and they're going back to school, think again. Can you buy
00:03:43.740 alcohol on Amazon.com? I don't know if Jack Daniels will send it directly to your house, but whatever
00:03:49.140 alcohol you bought wasn't enough. Uh, I think you're looking at anywhere from four. My feeling
00:03:56.740 is probably closer to eight weeks of this. We are only at the beginning. Um, people who were mocking
00:04:02.860 this this weekend. I think by next weekend, you will see, do not feel stupid by, by if your friend,
00:04:14.940 friends or family say, ah, we're not gonna, I'm going to just say, well, I'm not going to,
00:04:19.460 and you're not going to be around me for two weeks. Um, because no, I'm not taking any chance
00:04:27.240 and they can mock you if you want. It's better to be prepared and made fun of than laugh along
00:04:36.340 with everyone else and then be wrong in the end. I'd rather be wrong and prepared. So don't worry
00:04:43.620 about what other people say. If you have parents that are elderly, please, please, please keep the
00:04:54.120 kids at home. I know they just want to go to a birthday party. Otherwise make the decision. Now
00:05:00.160 you're not going to see parents until you quarantine your house for two weeks. Our parents, I mean,
00:05:09.260 if I went on vacation today, Tanya's parents are ill. If I went on vacation today and I didn't take it
00:05:18.460 seriously and I go out and I'm going to Disneyland and I realized they're closed, but I'm going to
00:05:24.100 just going to eat at the, at the Denny's across the street and I'm going to do all the things I want
00:05:29.960 on vacation. If Tanya's parents get sick, I'm not going to be able to see them. When I come home,
00:05:38.480 I have to stay away from them for two weeks to make sure I don't give them anything in that two
00:05:45.240 week period. They could get sick and then I can't see them. It's not worth it. It's just not worth it.
00:05:53.800 Earlier today, uh, I talked to you about, uh, in our number two, if you missed it,
00:06:00.860 please go back and listen. Today is definitely a day that you want to listen to on the podcast or go
00:06:06.860 as a blaze subscriber to the archives and watch and listen to the entire show today.
00:06:11.660 Today is a really important show packed with information. Our, my job is to inform you.
00:06:19.120 You may disagree with me, but I, you pay me to do this through your listening habits.
00:06:25.360 So I'm trying to do my job the best I know how, and that is today to inform you. I will also
00:06:31.840 hopefully enlighten you and entertain you along the way, but we need information first. So I want to
00:06:40.120 share something and I'm not going to give you, I don't mean to be cryptic, but I've been asked to
00:06:44.820 be cryptic. Um, this is not, this is proprietary information. It was, um, uh, prepared for heads of
00:06:53.040 state and, uh, and, and others, uh, by a company that assess risks. Let's just leave it at that.
00:07:01.780 Uh, and, uh, I've asked them for permission to use it and they've said, no, uh, you can use parts
00:07:09.620 of it. Uh, and I asked which parts I could use. And so I'm going to give you those parts that I could
00:07:15.660 use because I think this is important. Uh, first thing Americans need to know and the world needs
00:07:21.360 to know you need to go or stay at the place you want to be. If the situation worses, worsens,
00:07:27.920 focus your decision on being somewhere for four to eight weeks. So if you want to be with your
00:07:35.060 family elsewhere, then you should be there now, uh, and stay where you're at. For many people,
00:07:43.520 this means staying where they already are because it's a good place and they have the resources in
00:07:47.720 place, families in the same city. It's a good stock of food and supplies, sufficient security,
00:07:53.240 et cetera, et cetera. I think this is an important line. This is not a prediction that things will
00:07:59.100 be getting much worse, but rather an acknowledgement that things could get much worse. Um, there are
00:08:07.600 two ways to make a decision on where you should be. There's two things, the social order and the
00:08:14.000 medical. Let's do medical. The medical risk arise from the likelihood of you or your loved ones
00:08:20.220 contracting this particular virus and the availability of effective medical care. If needed
00:08:26.180 social order, social order risks arise from the interruption of services and supply chain
00:08:33.720 and how people behave in unwanted situations. So for the most part, most Americans, uh, will be able
00:08:42.020 to get the healthcare, just not the way that we're used to getting our healthcare. We're not used to
00:08:48.220 going in and be swabbed in a parking lot of a Walgreens or a CVS or a Walmart, but that's the
00:08:54.820 way it's going to be. We're used to just going to our doctor. We're not going to our doctor. They're
00:09:01.320 going to tell us to stay home unless things get really bad. You have a fever. They're not going to
00:09:07.540 see if you have the coronavirus right away. They're going to say, stay at home, take aspirin, drink lots
00:09:14.120 of fluid. Call me back. Let me know. You don't want to be in the hospital waiting room or the urgent
00:09:20.120 care center. They don't want you there. Stay home. So we're not going to be getting the care that we
00:09:28.720 normally get. But if this gets really bad again, if this gets really bad, which Dr. Fauci has said
00:09:38.360 that he's the, the head of, uh, not the CDC stew, which is he the head of one, another one of those
00:09:43.560 organizations. Um, he said that we could be out of hospital beds in the next eight to 16 days.
00:09:53.800 That's a lot. That's a lot. Uh, and that will cause panic in a lot of people, which then risk the
00:10:00.700 social order. You remember years ago, it's one of the reasons why I moved to Texas. Um, I said,
00:10:06.020 be around people you want to be around, you know, in case there's an emergency people that will help
00:10:11.460 you. How are people going to behave in your area? If you're in an area where people are not going to
00:10:17.580 behave well, you're not going to want to be there. Now, medical risk is influenced in part by chance
00:10:23.640 precautions, nature, the nature of the virus. I'm reading from the report now, but the social order
00:10:29.000 risks are influenced by fear, moral outrage, anger, and desperation. In other words, emotion.
00:10:35.520 Social order risks can be elevated by many factors. For example, when grocery stores have
00:10:41.520 insufficient stock, I'm again, quoting from this document. I think we're okay, but quoting from
00:10:48.320 this document, um, that's when not if, and it's all boldened, uh, or bolded, uh, some people will
00:10:56.340 behave poorly, impulsively, alarmingly. Those behaviors are another kind of virus that can also go viral.
00:11:01.800 When sweeping restrictions are imposed by government or scary news stories are repeated or clashes with
00:11:07.380 police occur, emotion can gain the upper hand. Italy is a useful proxy for considering viral
00:11:14.140 behavior. In order to curb new COVID-19 infections, officials ruled that prison inmates could not have
00:11:20.800 visitors. Prison, uh, prisoners at one detention facility rioted and within two days, 27 prisons had
00:11:28.560 been overrun. Prisoners were also protesting that they had not received the benefit of testing for
00:11:33.680 the virus. On the medical side, Italy was seeing the reduction of the number of new infections, but at
00:11:39.080 least six inmates died as a result of the violence. All 27 prisons were badly damaged, one so that it had
00:11:45.500 to be closed requiring prisoners to be moved to an already overcrowded facility. Emotion. So is it better
00:11:52.620 to be in a big city or a rural area? Rural locations have fewer people, low population density,
00:11:59.640 and generally fewer risk posed by emotion and behavior. Big cities have the presumed benefit of
00:12:06.560 emergency hospitals and big cities have millions of other people expecting to rely on those hospitals.
00:12:12.560 And if, as the current rate of new COVID-19 infections require hospitalization increases,
00:12:18.760 the benefit of proximity to big city hospitals declines sharply. In other words, a big fancy hospital
00:12:26.300 is only valued if they have available beds, sufficient staffing, and sufficient supplies.
00:12:33.100 To state this another way, being near world-class medical care is likely to be less value at a price
00:12:40.820 at precisely the time medical care is most needed by many people, because that need overwhelms the system.
00:12:48.760 Every place, the kind of place you might consider, has benefits and detractions.
00:12:55.400 We therefore recommend deciding where you want to be in the event of having to stay for many weeks.
00:13:01.780 If you're already there, great. If not, consider going there soon, because transportation and freedom
00:13:08.800 of movement are not guaranteed over the long run. This is not a prediction of a national shutdown like
00:13:15.580 Italy, but rather an acknowledgement of the range of options available to the government.
00:13:20.340 Let me say that again. This is not a prediction of a national shutdown, but rather an acknowledgement
00:13:27.160 of the range of options available to the government. We restate our recommendation of some weeks ago of
00:13:34.160 having resources sufficient to grant you as little dependence on others as possible,
00:13:38.240 and as little dependence on trucking, shipping, restocking, and continuity of services,
00:13:43.580 all of which is less dependable today than it was last week. Did you hear that? Have as little
00:13:50.200 dependence on trucking, shipping, restocking, and continuity of services. Using groceries is one
00:13:57.240 example. It is not possible for the supply chain to be the same next week as it was last week,
00:14:04.160 because the demand has sharply increased. As of today, we're edging into what has been described
00:14:09.920 to retailers as phase two. Phase one is the virus is present, but not get infected. Many people day
00:14:17.200 to day life is mostly normal phase two. We're at the beginning of this phase two. The virus has become
00:14:23.580 prevalent in the market or markets where supplies originate with governments taking restrictive actions
00:14:29.780 such as quarantine or closing schools in public places that result in labor shortages and considerable
00:14:36.100 disruption to supply and demand. To put the rate of increased demand into perspective, last Thursday
00:14:43.420 and Friday, March 5th and 6th saw a 10% increase in grocery store foot traffic. This Thursday and Friday,
00:14:51.420 March 12th and 13th, the increase jumped to 200% and 300% in some areas.
00:14:59.000 The director of MIT Center for Transportation Logistics has said the current moment can be
00:15:05.320 compared to what happens in a region expecting a big snowstorm. People stock up. However, the present
00:15:11.540 situation is not regional. It's national, meaning an affected region can only reply, rely on nearby
00:15:19.040 unaffected regions for restocking supplies. There's no, there's nobody sending in shipments from Texas or
00:15:26.360 California or wherever. If you're contemplating a move to another location, it is likely you will have
00:15:32.680 more options today than in the coming weeks, mostly due to the risk of travel disruptions or government
00:15:38.360 intervention that restrict the freedom of movement. If you decide to travel, relocate, yada, yada, yada.
00:15:44.760 Uh, uh, I'm just not going to be able to get to all of this. Um, he goes into, uh, the things that,
00:15:51.800 uh, important note. If draconian restrictions are imposed, there might be little or no warning
00:15:59.260 or little or no lead time afforded. We learned yesterday, the advanced discussions about imposing
00:16:04.940 additional restrictions in San Francisco and Santa Clara as early as next week. That's this week
00:16:09.440 information, not yet public is shared. Here's an example of the form of such restrictions that it
00:16:14.960 might take. Nobody can enter or exit designated lockdown areas unless they are proven family or
00:16:22.020 proven work reasons. Movement in movements inside these areas is to be avoided unless justified
00:16:28.600 closure of all educational and social centers, restaurants, limiting public transportation and
00:16:34.320 asking everyone encouraging to work from their home. But there are other things that are now being
00:16:39.040 decided, uh, at the government level and more travel restrictions are part of that.
00:16:51.440 You're listening to the best of the Glenn Beck program.
00:16:54.260 Well, uh, just in the commercial break, uh, something happened. Uh, the Dow opened and the Dow
00:17:12.160 closed. Uh, we are already down what? 9%? No, not 9.7%. Uh, 2,250 points in the Dow in the last, uh,
00:17:23.760 three minutes. And so trading is halted. If you remember this from last week, twice, the first
00:17:28.740 two times that it happened, uh, this is going to be the third time. And now two weeks where they have
00:17:32.280 the circuit breaker situation with the S and P 500. If it's down 7%, uh, trading turns off for 15
00:17:37.600 minutes. If it goes down another 6%, uh, it goes, uh, it turns off for another 15 minutes. And if it
00:17:42.880 goes down another 7% after that, it turns off for the day, that'd be 20%. So, uh, I'm part of that.
00:17:49.700 I took everything out of the stock market last night. So I am part of that. Well, I mean,
00:17:56.300 I will this morning really, right? If, if my pardon me, well, last night, I mean, I don't know. I
00:18:02.720 don't know what your situation is. I know there are people that do, that do a future. So you, yeah,
00:18:08.300 go ahead. I was going to say there are people who, I mean, like I, I, I don't have any ability
00:18:12.880 to trade stocks in the middle of the night off the market. Maybe you do. I mean, seriously,
00:18:16.800 obviously, no, I called no, no, no, no, no, no. Yes. You can, you can trade in the middle
00:18:21.220 of the night. I called my broker last night and I said, first thing. So hopefully I'm
00:18:26.960 in this first wave. Right. Right. I don't know how long it's going to take him, but hopefully
00:18:32.700 I'm in that first wave. Yeah. You can place those, those, those orders, uh, overnight.
00:18:37.240 I mean, obviously there are people at higher levels that do all sorts of different things.
00:18:41.480 They have futures that are traded. I just don't, I mean, I, I don't like, no, I'm a regular.
00:18:46.300 Yeah. No, I get the regular thing too, but I will tell you why I did it. And I, you really
00:18:53.020 need to pay attention to this, uh, coming up in about 25 minutes from now. This is the
00:18:58.980 thing this, uh, when this hit me this weekend, cause something bothered me in the president's
00:19:04.340 speech. I think it was from the oval and he said something and I was like, wow, that's weird.
00:19:10.480 Why would he say that? Well, I figured it out this weekend and, uh, I'll give you that
00:19:16.200 at the top of the hour. Please, please pay attention to what is, is happening. Um, welcome
00:19:22.520 to Pat Gray from Pat Gray unleashed. Thank you. You know, I was just, I was just talking
00:19:26.040 Pat about, uh, Chicago and how Chicago said, you know what, we're just going to close things
00:19:30.500 down. And a lot of, a lot of towns are doing that, but Champaign, Illinois is really taking
00:19:35.080 it to a new level. Yeah, they, they really are. The mayor of Champaign, Illinois gave herself the
00:19:40.980 power to ban the sale of guns and alcohol after declaring a citywide emergency. So the citywide
00:19:48.200 emergency kicked in the municipal code and that includes the extraordinary power for the mayor to
00:19:55.980 do pretty much whatever she wants. She can take possession of private property. Uh, she can, she, 1.00
00:20:02.520 she, yes, she can, she can cut off access to individuals, gas, water, or electricity. She can 1.00
00:20:10.680 ban the sale of guns, ammo, alcohol, and gasoline. I'm wondering where she gets these powers, uh, 1.00
00:20:19.180 in the municipal code, which has got to be unconstitutional. That can't be real. That's
00:20:23.160 not how any of this works. No, you've got to be able to challenge this and say, um, no, we have
00:20:28.300 something called, uh, Oh, the constitution, which should include your municipal order. Yeah. The
00:20:35.740 constitution, remember, regulates what the federal government can do, not what the states and local
00:20:40.960 government can do. Right. But it prohibits the states and local government from doing certain
00:20:44.280 things. Yes. Yes. It, it does circumvent municipal laws like this. In other words, you can't violate
00:20:50.080 the constitution locally. Really? Yeah. You think just because of the constitution, we somehow or
00:20:56.760 another cannot just take people's property. Yeah. That's a, especially guns would be one of the
00:21:02.440 hardest things to take. May I just give you some advice here as a recovering alcoholic by alcohol now.
00:21:12.560 No. And I'm not saying because, Oh, Glenn saying it can be parted or no, I'm saying you're going to
00:21:19.920 need those blackouts. You got your kids home. I guarantee you for the next eight weeks, guarantee
00:21:27.340 you, they're going to be home for the next eight weeks. Easy. You are going to need more alcohol than
00:21:32.640 you purchased. Okay. Whatever it is you purchased, you need more. Well, not enough. I don't even
00:21:38.400 understand this thing where they're like, Oh, you got to stay out of the bars. It's like, you guys
00:21:41.800 realize you can drink at home, right? Like all the problems with go to the bar. Like
00:21:46.440 you said, the, the annoying part about drinking is like bumping into people and people spilling
00:21:50.840 things on you. You're going to sit right on the couch and watch Netflix hammered. I hate
00:21:55.300 all those drunk people. There's no reason to go. I mean, sure. You might say only alcoholics
00:22:03.180 drink alone, not in the time of a quarantine. There's another loophole for you. I was, I thought
00:22:10.980 I'd be an alcoholic if I was drinking alone, but I'm drinking morning till night alone, but
00:22:17.160 I am quarantined now. So can I also ask, alcoholics don't care. Ask a question at this point that
00:22:24.300 it seems sort of obvious. Okay. How stupid do those preppers look right now?
00:22:31.300 Oh my gosh. You are so right. Do they look like morons? Oh, I'm going to get prepared for some kind
00:22:41.820 of emergency. Can I tell you something? I can't tell you how relaxed my family has been. We've
00:22:52.160 been like, okay, we got to do this. We got to do that. All right. We got it. Well, you have to have
00:22:57.400 these. Yeah, we got that. I mean, it's, if you've, if you've been paying attention and you've been
00:23:04.140 prepping, you know what I've been saying for the longest time. The peace of mind that you will have
00:23:10.540 is so great. Right. All I've had to worry about are, you know, Hey, how do we get the network on
00:23:18.900 the air in case there's nobody there? Uh, how do we, you know, how do we do these things? How do we,
00:23:25.520 how do we make sure that all of the guns are loaded for? So when the people are like, I was at the St.
00:23:31.500 Patrick's day party and I just missed that somehow or another. Do we have enough ammunition for those
00:23:37.500 people? I'll say too, like there's been a lot of overblown stuff, I think on how crazy it's been
00:23:44.920 at these stores. We all know this is going to get worse. And we've talked about this for weeks,
00:23:49.520 but just because of the numbers and the way they're going to work, it's going to look a lot
00:23:52.460 worse and it's going to be worse over the next few weeks. But like, I, you know, I went to the store
00:23:56.480 this weekend. Uh, you know, yes, there are, there are incidents of people fighting in the stores,
00:24:01.960 just like black Friday. There are, there are ridiculous toilet paper outages in certain
00:24:06.800 places. When I went to the store this weekend, there were certain things that were, there were
00:24:11.640 very specific, um, limited supplies of things. There were certain, you know, there's less water
00:24:17.740 than there would have normally been. There was toilet paper. There was less toilet paper. There's
00:24:21.660 some of those things, but they're going to be out for it. What's that? Did you claw anybody's
00:24:27.460 out for it? Yeah. I mean, there's, there's blood still under my fingernail. Sure. All right.
00:24:32.140 All right. Obviously. The point is there was still tons of stuff in these stores. And there's
00:24:36.540 going to be more tomorrow. Yeah. You know, or the day after. They are focused very heavily. Trump
00:24:41.760 is too on, on making sure these, these grocery stores are going to be restocked. And that's,
00:24:46.420 that's important. It doesn't mean you need to go in there and buy every single thing that
00:24:50.120 you see, but I will say that like there's still tons in the stores. May I just ask this
00:24:55.080 question. What part of amazon.com can we not spell? I mean, when you make it easier,
00:25:03.160 I, we got to go out to the store. The president is telling us stay inside, stay inside, but
00:25:11.060 we need food. How else could we possibly get food? I've got to claw somebody's eyes out
00:25:17.000 in a crowd in the grocery store. I just like to point out amazon.com is delivering, you know,
00:25:23.420 it's right there. They deliver right to your door. Yeah. Yeah. Shut up. How are we going
00:25:27.660 to get the toilet paper? That one last roll that's on that shelf at the Kroger? I again
00:25:32.720 like to shut up. Will you? We're trying to talk over here. I don't understand how this,
00:25:39.160 how we're missing Amazon. My wife said to me on Saturday, I got to go to the store. Cause
00:25:43.660 I have to, I said, honey, well, didn't we just say that we weren't going to go to store? Yeah,
00:25:49.740 I know, but I have to get some things. I'd like to point out amazon.com. I guess you can do, uh,
00:25:56.640 groceries are not, there's also Instacart, which I've used for, for grocery delivery,
00:26:01.040 which is kind of nice. There's a bunch of services that will do this type of thing for you. Um, but it
00:26:05.680 does feel like people aren't used to ordering milk online. Like that's not a normal thing people are
00:26:11.160 used to doing. So it is out of the norm, but you can do it. There are plenty of places that will
00:26:15.220 deliver all that stuff. If you don't mean the milk, cause I wasn't even, it wasn't even milk. It was
00:26:20.060 like, I need some more pasta. Okay. Yeah. You're probably, yeah. You're, you might pay more for it
00:26:26.400 right now online. Um, but yeah, there wasn't a lot. The pasta was definitely one of the things that had
00:26:31.540 been cleared out. It's the type of thing. I feel like I've had the same box of pasta on my shelf for
00:26:35.940 the last 14 years. So I feel like people just are like, eh, you're going to get pasta. It's going to be
00:26:40.540 around even if you don't use it right away. And hopefully we will all be looking at boxes of pasta
00:26:45.960 and toilet paper that we purchased. Remember this? Ah, this was the great pasta scare of 2020.
00:26:53.060 Hopefully we won't need all of this stuff, but you, but you do have to recognize that this is the
00:26:59.540 last week that this is probably going to be funny. Uh, this is going to be the last week where people
00:27:05.100 are still arguing. Oh, that's nothing. Oh, it's nothing but a hype. This is going to be the last
00:27:11.960 week. I think of that. Yeah. Well, the numbers went from 2,900 last night when I went to bed and
00:27:17.160 they were saying 3,700 plus now. Yeah. That's pretty quick. Well, yeah, that's really fast.
00:27:22.460 There's a, there's a New York times, um, uh, like breakdown of all these numbers and I, you know,
00:27:27.260 I check it, you know, a couple of times a day just to see how they're going. And they've had this chart
00:27:31.020 at the bottom, which compares world cases versus Chinese cases. Yeah. And so the chart
00:27:37.320 every day looks like basically the Chinese cases go way up to the top of the chart and they've
00:27:43.220 started to flat it out as we've, as we've covered. And then the other side was this line very close
00:27:47.800 to the bottom that just started to curve up a little bit, uh, went to bed last night and it had
00:27:53.080 gone all the way up to halfway up the chart, um, halfway up to the Chinese cases, which, you know,
00:27:58.500 and it's sloping almost directly straight up, got up this morning. It's past China.
00:28:02.940 It's now past. So the rest of the world has more cases outside of China than there were
00:28:07.320 inside of China. Well, there was what, 25 or 30,000 in Italy alone and 368 deaths yesterday.
00:28:13.800 Yesterday alone. So listen to this. I just said this, uh, it just said this, what a few weeks
00:28:19.660 ago, we're about 50 days behind China. Uh, all right. If it's true, let's compare what
00:28:27.860 China was doing 50 days ago. Uh, 40,000 people into their house, weren't they? Uh, not, not yet.
00:28:35.720 Weren't they yet? Nope. Uh, coronavirus. These are the headlines. These are the headlines. 48 days
00:28:40.680 ago, coronavirus death toll climbs to 106 cases. What is the death toll here in America today?
00:28:48.020 68, I think. Okay. Death toll climbs to, uh, 106 and cases near 4,500 as China emits shortage
00:28:57.600 of medical supplies today. We will probably hit 4,500, uh, Hong Kong medical workers draw
00:29:04.620 sticks to decide who works in the quarantine wards. Villages start to build walls and checkpoints
00:29:09.300 to stop outsiders spreading infection. Buses are not running in China's biggest steel town
00:29:14.980 is gold heading to 2000 prices surge on global fear. Asian stocks tumble as China virus worries
00:29:22.040 deepen. Corona beer virus searches suddenly spike on Google after that. And when, and when again
00:29:31.460 is St. Patrick's day? Uh, so 4,500 infections is probably where we're going to be today by
00:29:38.800 the end of the day. Uh, but in positive news now, remember we're 50 days behind. So here are
00:29:45.160 the headlines from today in China, parks and tourists, uh, and tourist attractions reopen
00:29:51.400 in China as it gets back on its feet. China records 16 infections. 12 are imported from travelers
00:29:57.600 outside of China. So if we follow the same timeline, we're at the beginning of that China. This is,
00:30:03.300 this is the, this is the ramp almost straight up. We're there this week. Uh, and which will
00:30:09.660 mean that we're going to understand it a week from now. We're, we're, we, we are two weeks behind
00:30:16.060 Italy where Italy is now saying to us, Hey, two weeks ago, we thought this was a joke. Please
00:30:21.340 America and the rest of the world. Don't, don't laugh this off. We're freaked out of our minds
00:30:26.120 now. Um, so we're in that slope. So if you follow the same timeline, it means we're about 50
00:30:32.280 days from Disney getting ready to reopen and maybe talking about sports getting restarted and things
00:30:38.020 getting back to normal, but we are 50 days approximately behind China. This is the best of 1.00
00:30:50.240 the Glenn Beck program. We are down now in the stock market, about 10% today.
00:31:08.020 I hope my stocks are part of that 10%. Um, because, uh, last night, uh, some things came together for
00:31:16.600 me. And if you are looking at the stock market, if you are looking at a conventional wisdom,
00:31:23.340 it will always tell you, do not draw your money out three, four, no, four weeks ago. I said to my
00:31:30.220 wife, honey, I want to pull the money out of the stock market. Now I've done it before 0.99
00:31:34.440 and we have lost money because we have pulled, we've pulled money out and something didn't happen.
00:31:41.740 It was just a temporary thing, but I can't stop from hearing my grandfather's voice. My grandfather
00:31:48.180 lived through the great depression and anybody who had grandparents that lived through the great
00:31:52.480 depression, you knew a couple of things. Don't waste food. Don't waste anything. What do you mean?
00:31:59.120 You're going to throw that pair of pants away or that shirt? No, give it to me. I'll bend it.
00:32:03.760 They learn things. And I want you to really understand this. If you didn't, if you don't
00:32:09.800 know somebody who grew up in the great depression, you won't be able to relate to this because there's
00:32:13.760 no one like this in America anymore. They were so spooked by the great depression. They still
00:32:20.240 saved all of their scraps. They still saved all of their wrapping paper on Christmas. They did
00:32:25.600 everything. Save, save, save, save, save, save, because quote, you don't know what it was like
00:32:31.560 and it can come back. And I remember my grandfather saying all the time, those people who had money
00:32:39.280 in the, in the depression, those people who made money in the depression are the ones who didn't
00:32:44.800 lose it in the stock market. And so it was a generational thing that they got and we didn't
00:32:52.800 from October, 1929 to 1932, the U S stocks lost 90% of their value that kicked off the great
00:33:02.500 depression. They kicked off that three year decline by losing 30% of the value of the stock
00:33:09.880 market in 45 days. Now I want you to listen carefully starting February 12th, 2020. And through
00:33:18.220 last week, U S stocks lost 30% of their value in 20 days, more than twice as fast in 1929.
00:33:28.540 In the last 10 trading days, stocks have hit their 7% loss trading stop, so-called circuit breaker
00:33:35.040 designed to stop panic selling. It's been hit three times as of today, four. We just hit another one.
00:33:42.160 We're now down 10% for the day. We were down almost 9% before they could close it. It's supposed
00:33:49.660 circuit breaker blows at seven. By the time they got that thing closed, it was down 9%. We're down
00:33:55.660 almost 10. The next circuit breaker is at 13. And the one after that is at 20. Now there's a reason
00:34:02.860 why I'm telling you all of this history. And I want you to pay attention closely. And I am not a
00:34:10.000 financial advisor. I am not somebody. I lose money more than I keep money. So take my advice.
00:34:20.000 Take my advice. Sorry, just got an urgent message from somebody regarding this. So I'm going to
00:34:24.880 try to remember that. Don't take my advice as gospel. Take it as these are the facts. Then do your own
00:34:37.260 homework. We have something. Let's start here. Starting in September 2019. And this is one thing
00:34:52.620 that really bothered me a lot. And we did several episodes on it. In fact, we should put them all
00:34:58.300 together because if you're at home, you can binge watch a few things on the archives of the Glenn Beck
00:35:04.720 TV program. But in September 2019, the Fed started making overnight repo loans at the rate of $75 billion
00:35:13.500 a night to the banking sector. Now what this means is when banks close their door at night, they close
00:35:21.920 the shop at five o'clock, they have to have enough money in the vault to cover any of the so-called assets
00:35:33.360 that they have that are actually loans, the liabilities. So they have to cover the the liabilities in case
00:35:41.200 something happens. They have to be able to have enough cash in the bank to be able to cover all of those
00:35:46.860 liabilities. We've we've had this now since the Great Depression. And we used to have something that would was
00:35:54.520 called the discount window. If you couldn't do that, you would go to the Fed's discount window where you would get a
00:36:01.460 special rate. It was not someone prior to 2008. Any bank wanted to use because it was kind of made as a
00:36:09.240 shame kind of place where you would go and it let the other banks. Oh, he may not be solvent. I don't
00:36:16.320 know if we should really trust that bank. Should we loan to that bank? So nobody wanted to use that.
00:36:21.380 Well, the start of the Fed started making overnight loans at the rate of 75 billion per night. That means
00:36:29.840 some of the banks collection of the banks or one of the banks was short 75 billion dollars in cash and
00:36:37.340 needed to borrow that just to cover the shortfall. In November, they increased overnight lending to 100
00:36:44.760 billion. Last week, they made it 150 billion dollars a night. Over the weekend, it was increased to 175
00:36:55.080 billion per night. To put this into perspective, Bear Stearns and Lehman Brothers needed 50 billion.
00:37:04.140 We now have increased it to 175 billion dollars per night on top of the one trillion dollars announced in
00:37:19.000 new asset purchases. Do you remember when we said we were going to bail out the loan to the trouble
00:37:23.960 assets recovery program TARP? That was seven. I think it was 775 billion dollars to bail out the banks
00:37:33.860 and their troubled assets. They have just added one trillion dollars to TARP. They don't call it that
00:37:43.000 anymore, but new asset purchases. So the Fed is buying a trillion dollars. Plus, they're letting
00:37:51.340 these banks borrow 170 billion every night. On Friday, the U.S. Treasury held an auction for 30-year
00:37:59.160 treasury bonds. You know how many we received? How many people raised their hand and said,
00:38:05.620 I'll buy a U.S. Treasury bond? You know how many? Zero. Zero. What does that mean? Any money that we now
00:38:17.280 borrow, we can't borrow it because nobody wants to take that debt. We are spending out of control,
00:38:26.020 and no one wants to buy a 30-year treasury bond. As of today, March 16th, the Federal Reserve has
00:38:34.380 become the last buyer of resort for the U.S. Treasuries. We are out of countries that now want to take our
00:38:42.660 debt, at least at this time. Now, the Dow is down 25% from all-time highs. Bank stocks are down 50%.
00:38:53.100 Let me say that again. The Dow is down 25%, but bank stocks are now down 50% and leading the way down.
00:39:03.940 The reason why I want you to know this
00:39:07.600 is because something really hinky is going on. It's been going on for a while. I haven't been able
00:39:15.480 to put my finger on it. I still don't know what it is. Nobody does, but nobody's talking about it.
00:39:20.960 When the last time nobody would talk about things was 2007 and 2008. I couldn't get anybody to give
00:39:28.100 me any, well, it's very complex. You know, you don't understand the system. Yeah. Can you explain
00:39:33.120 it to me? Well, no, it's very complex. Okay. So it's so complex. You can't even break it down and
00:39:38.480 explain it to me. Glenn, there are systems. Really? Can you tell me what those systems are? Because they
00:39:43.600 don't seem to make sense to me. Explain it to me. You just don't know. That's the kind of runaround
00:39:51.460 I'm getting right now. Now, why are the bank stocks down over 50% when the Dow is only down 25? Why
00:40:01.380 is the banking sector down? Now, this leads me to what I heard from the president last week,
00:40:06.740 and he said it in such a nonchalant way. It just passed by everyone except those with eyes and
00:40:15.820 ears. And I heard that and I went, why, why, why are you saying that? Remember before he gave his
00:40:21.840 speech, he met with the heads of all of the big banks. Now that's spun as well, he's meeting with
00:40:28.320 the heads of the bed, big banks, because you know, what are we going to do about this financial crisis?
00:40:32.460 Okay. But what he said that night was, and I just want you to know, you know, our banks are fine.
00:40:38.760 They're tip top. They're fully liquidized. I mean, they've got liquidation that they just take all
00:40:47.200 this money and they're just, it's growing on trees. They can throw it around. They've got so much money.
00:40:52.440 They're so liquid. It's almost like you could drink a bank right now. Really?
00:40:57.340 Production economies have crashed in the anticipation of a global slowdown in manufacturing. Oil is down
00:41:08.140 more than 50%, made worse by the Soviet or the Russia-Saudi price war. Copper is down 30%. Steel is
00:41:16.160 down 30%. Aluminum down 22%. They're all indications of a global slowdown not seen since at least 2008.
00:41:24.140 The world is still entering its shutdown mode. So China is reemerging for their shutdown. But who's
00:41:30.820 going to be placing any orders of the next month or two? This is the real problem. The Fed just shot
00:41:37.900 everything. They just, they don't have anything left. They don't have anything left. We're almost at
00:41:42.820 zero. They can go to negative interest rates, but you don't need a lower interest rate right now.
00:41:49.080 We need to be buying things. We need to be going out to restaurants. That's why you know how serious
00:41:56.920 this is. This is either an evil, spooky dude, complete hoax on the entire world. We've got all of them.
00:42:07.660 We've got China. We've got Russia. We've got oil. We've got everyone. And everyone is in on this,
00:42:14.640 which I think a lot of people will be playing into this, but it's not a hoax
00:42:21.520 for people, for us to make the choices that we're making right now to shut our airlines down and
00:42:28.700 everything else. Donald Trump does not want to do this. He's smart enough to know exactly what this
00:42:36.000 means. Now, let me tell you what they did just last night. This is what made me say,
00:42:42.260 honey, go to the bank tomorrow morning. And I want to, and I wrote to our stock broker and I said,
00:42:49.100 I don't care how much money I don't care what the excuse is. No, I don't care how dumb I look in the
00:42:55.400 end. I'm pulling my money out of the stock market. We're going to the bank. We're getting some cash.
00:43:01.860 And I'll tell you what they did last night that made the blood drain out of my face. That makes
00:43:08.800 absolutely no financial sense whatsoever, unless you got nothing left.