Best of The Program ｜ 3⧸9⧸20
Episode Stats
Summary
Coronavirus has now infected over 110,000 people worldwide, and the death toll has risen to over 3,800. What does this mean for the economy, the stock market, and your 401k? All that and much more on today's show.
Transcript
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Hey, welcome to Monday. We've got a kind of an interesting and different show for you today.
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Today's very frank and kind of setting the stage for what is to come with the coronavirus,
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what it means to you, how you need to look at this as a family, as an individual,
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what it means to your 401k, what it means to your investments. There'll be a lot of stuff
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that we're going to go over today, but also in the next coming days. If you've been a long-term
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listener of this program and you've trusted us to guide you through some of these things,
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today is a don't miss. If you usually listen into the edited version, today may be a day that you
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want to listen to the whole podcast. If you want to make sure that you understand what's really
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happening in the world with coronavirus and the economy and the election, it's all on today's
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broadcast. Don't forget also on Wednesday, I'm doing a special called The Sum of All Fears,
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and it is about coronavirus. It couldn't be timed better than it is right now. You don't want to
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miss that. If you're a Blaze subscriber, make sure you're watching Wednesday night, 9 p.m. Eastern.
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That's blazetv.com. All right, let's go to the podcast. Here it is.
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All right, our daily Corona stats from Johns Hopkins. As of 5.30 a.m. Central Time,
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total confirmed cases now worldwide up 110,617. That's a jump of over 10,000 people from Friday.
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Total confirmed deaths, 3,831. That is up from 3,400 since Friday. 62,000 patients have recovered
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from COVID-19 around the world. 109 countries now have confirmed cases. It was 94 on Friday.
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Four more have suspected cases. 13 confirmed cases are considered serious. This is really good news.
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It was hovering at about 19% are serious cases for a very, very long time. And serious case is
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requiring hospitalization. And 4% of serious requires ICU. As of today, that number, which was for a long
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time, 19 on Friday down to 16%. Today, the number of confirmed cases that are serious is 13%. This is showing
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that as we find more and more cases, we realize, oh, there's a lot of people walking around with this
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that are not real serious. It's the only ones that we were finding were the ones that are like,
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I can't breathe. Confirmed cases now in the United States. 27 with six more tracking suspected cases.
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Now, 27, that includes the one from CPAC. CPAC, somebody went apparently had coronavirus, didn't
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know that they had it. Anybody who's gone there, I've heard from this weekend, are you okay? Are you
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freaking out? No, I'm not freaking out? Well, you know, Ted Cruz, self-quarantined. Well, he met with
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the guy. So did Paul Gosar. And then, so did Matt Schlapp. Well, I shook their hands while I was there.
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Now, more cases are going to be found. And this is a good thing. Italy now has
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response to duly verified professional requirements, emergency
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and locked them in their houses or their neighborhoods and said,
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you're not leaving. If you need to leave, contact
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Places of worship remain open, provided that a safety distance of at least one meter is
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respected, but religious ceremonies, marriage, baptism, prohibited now until further notice
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in Italy. People with symptoms of respiratory disease and a fever of 101 Fahrenheit or above
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are strongly encouraged to stay home and limit social contact as much as possible, including
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with their doctor. They're telling the people in Italy now avoid all gatherings, if at all possible.
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All schools and universities are now closed in Italy. All museums and places of culture closed.
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All cultural, religious, or festive events suspended.
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schools, game rooms, casinos, nightclubs, and all other similar places
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are closed. All sporting events and competitions are
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suspended. Ski resorts closed. Swimming pools, sports
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halls, thermal baths, cultural centers, gyms, wellness centers
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This provision concerns all other commercial activities.
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things, you know, you put the pizza in the oven.
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that authored the CDC's pandemic response strategy
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combination of infectiousness and the lethality
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that appears to be many, many fold higher than the flu.
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He said there were just three cases in Italy two weeks ago.
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He said, I don't think it's a crazy analogy to compare
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The World Health Organization is using these kinds
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They've seen what this virus is capable of doing.
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joined other epidemiologists in warning not to compare
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He says it's at least two or three times more infectious
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go back to the CPAC thing you were talking about.
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who I had on the show in the same room with me for an hour
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it is an interesting thing because I certainly understand
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because probably people would go to their house
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You're going to have media requests from everywhere.
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Now, it takes a couple of weeks for you to get past the time
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It's only been like 10 days or something like that
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And if I don't get it this year, as you pointed out,
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It's just, the problem is, is there's no vaccine
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There appears to be some things that are working on it.
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Some of the AIDS medicine is actually helping cure this.
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But, you know, it's, we're all going to get this.
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If the flu did not have a vaccine and did not have four approved treatments for it,
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the death rate would be a hell of a lot higher than 0.1%.
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And that's part of the reason why it is a 0.1% is because of the way we've reacted to it.
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We've seen this happen as well with South Korea, who's been aggressive,
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has a good health system, has been aggressive trying to contain it,
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is reporting a 0.5% mortality rate as opposed to two and three in other parts of the world.
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So let me give you a couple of other things here.
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We're going to debunk the coronavirus myths for you in a second,
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but I want to give you a couple of last stats that you need to keep in mind.
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U.S. case count expected to spike dramatically this week.
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Because we are now starting large-scale testing all across the country.
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In January, doctors at the CDC decided to reject the WHO standards for coronavirus testing,
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noting that 30% false negative was found in China.
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And so the United States CDC, not directly getting a phone call, I'm sure, from the president saying,
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They looked at that and said, that's too high of a false negative and a false positive.
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The tests produced by the CDC in early February were designed to test for SARS-CoV-2,
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the virus that causes COVID-19, as well as SARS-CoV-1.
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But they were faulty and had to be replaced, because Donald Trump told them,
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Anyway, by today, more than 2.2 million new tests will have been sent out to the regional labs
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and the hospitals, according to the U.S. Surgeon General.
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Large-scale testing is expected to dramatically increase the case count in the U.S.
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When you see a huge spike this week, it's because we're testing now for the first time.
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I want to talk to you a little bit about Farr's Law.
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I didn't even know what Farr's Law was, but I knew of it, and all of us at some point knew
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It was actually named after Dr. William Farr, 1840, and there is a bell curve pattern to it.
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And almost all epidemics follow this pattern, including a sharp increase in cases at the
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beginning of the cycle, and then the peak, and then it comes down and returns to a baseline.
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This pattern exists because we modify our behavior so we don't get sick.
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And those who do get sick, they seek medical attention.
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China, which had its first cases in December, peaked in last January or early February and
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is now in decline of the spread phase because they modified their behavior, which is what we're
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We are about 45 to 50 days behind where China sits.
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So we are still now at the early stage of the up of the bell curve.
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In 45 or 50 days, we will start seeing the down just like everybody else.
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And it indicates that our peak cases should be in April or early May and then decline
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I'm still looking for an answer that I'm comfortable with on whether or not this is a
00:14:08.760
And when you get into hot weather, it starts to dissipate.
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Korea is expanding and and going through the roof.
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Well, they found that Singapore, which is much warmer and more humid, is actually not
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So they think there is a possibility that this is a seasonal flu, which would be a very
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Unfortunately, not for Australia and New Zealand.
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And they already have cases, which is odd if it is a seasonal flu.
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And so things would be getting worse on that hemisphere as things get better for us.
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And the world could catch its breath from this as we move towards a vaccine.
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It is not about the virus as much as it is about the spreading of fear, the protecting
00:15:22.480
And the one that's really going to impact all of us, your cup of coffee at Starbucks.
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I'm going to show you how your cup of coffee at Starbucks is going to radically change because
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of the Corona virus and how it actually will affect you and everybody else who buys a cup
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of coffee every day at the Starbucks or the Dunkin Donuts in one minute.
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I have to tell you, my dog has completely changed.
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I mean, first thing that happened was the forced marriage that we forced him into with
00:16:09.840
Uh, it made him miserable and he was not happy.
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And then we changed his food and that changed a great deal.
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We were just talking about it yesterday, looking at him and seeing him.
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I've never seen him so active as he is right now.
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Yeah, this is the best thing I think we've ever done for our dog.
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This has made a bigger change in him for the positive than anything else we've done, including,
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Rough greens, 14 day jumpstart challenge right now, 1495.
00:17:14.480
See the difference in your dog in 14 days or less.
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The longer we've been giving this to him, the more changes we're seeing.
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I mean, I've been given to him, I don't know, two, three months.
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And we're seeing even more changes today than we were originally.
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Go to roughgreens.com slash back, but you'll see a huge difference in 14 days.
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Roughgreens.com slash back, or just call them at 833-GLEN-33.
00:17:48.140
On average, the average day in America, over 38 million people buy a cup of coffee at Starbucks.
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38 million people buy a cup of coffee every single day at Starbucks.
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Now, Starbucks is a big company, but that store is a franchise.
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Now, that's 10% of the population in the United States.
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Starbucks stores are mostly owned by private people, franchise, small business owners.
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They operate their store, but they own it under a license agreement from Starbucks corporate.
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And the average Starbucks franchise operates with a 5% to 7% margin.
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Now, what that means is after all of the operating costs, the supplies, the electricity, the employee salary, the taxes, and everything else,
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that franchisee, that business owner of that local Starbucks is making about 5% to 7% of money at the end of the month.
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Every month after all of the costs are deducted from all of the sales.
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So, to put it another way, to show you how little that margin is, and that's a normal margin,
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but to show you how little that is, the average Starbucks owner, the franchisee,
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makes a profit based on only two days' worth of operations every month.
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28 days, all the sales go just to operating that place.
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Only two days of the month is that rich business owner actually making money.
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Now, imagine that today, and if it hasn't already gone out, it's going to go out to Blaze employees today and to Mercury employees.
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You get an email from your HR manager, maybe your CEO at work,
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Due to the risk of coronavirus, all employees are being asked to work from home for the next two weeks,
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You've already made your Costco run for your canned goods, your beans, your rice, plenty of toilet paper.
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What's the deal with the toilet paper, America?
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You update your Netflix and Disney Plus subscriptions, and you prepare yourself mentally for a two-week bug-in.
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Local governments have not said anything about it yet, other than, you know, if you can, just stay off the streets.
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You know, don't have a big, you know, block party.
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You know, just don't congregate in large groups.
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And as a responsible America, we all look at each other and go, yeah, okay, that's reasonable.
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Foot traffic is now almost ground to a halt because you're not going to work every morning.
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You might go in there and buy the grounds so you can go and make it yourself, but you're not going into the store to do it.
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In local businesses that are heavily dependent on daily cash sales, all of a sudden, a rapid overnight and sudden decline has dramatic consequences.
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Operating costs of a store, they don't decline with foot traffic.
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If you have brick and mortar, it still costs you the same amount to run your daily business when the store is busy as it does when the store is empty.
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That's why you need that store to be packed all the time.
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Employee salaries, the electricity to keep the lights on, the rent, the insurance, the license fee to Starbucks corporate, the cost to brew the coffee, to bake the muffins.
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If you have a thousand customers or ten customers.
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But let me go back to the original idea here that you're only making money.
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So if you have just a two-week period with virtually no foot traffic, it's devastating to you because you still have to pay all those bills.
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Well, as a store owner, you start cutting back hours.
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Move to skeleton crews if it's more than two weeks.
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The loss of work for hourly employees means they are not able to pay rent.
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They may not be able to make their student loan payment or their car payment.
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They can't make a credit card payment without ongoing sales coming in.
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The store owner has to dip into savings to cover the expenses.
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He has to sell stocks, bonds, anything to raise cash to try to stay afloat.
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Think of all the things that you won't spend money on during your just two-week bug-in at home.
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No trips to the movie theater, who also have the same operating costs, whether or not the theater is full or empty.
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They still have to pay licensing for showing the films, whether they're five people or a 500.
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While quarantined at home, you're not stopping for gas.
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You're not buying Mountain Dew fountain drinks that you're guilty pleasure on a Saturday morning while you're driving your kids to soccer practice.
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More than six million small businesses in America are heavily reliant on that daily foot traffic.
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Customers walking into their store making a cash purchase.
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Online orders via Amazon is going to have an uptick in the tens of millions.
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Because tens of millions of Americans and all over the world are going to be forced to be bugging in.
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Some restaurants might see orders via food delivery apps, stay steady.
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But there are millions of businesses from laundromats to theaters to bars to Starbucks stores to convention centers to concerts.
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They rely on classic consumerism to stay afloat.
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None of this, you will notice, has anything to do with the president or Washington or anybody in the media.
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So this is the catastrophic butterfly effect of COVID-19.
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This is the thing that keeps me up over the last couple of weeks.
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We probably are going to lose some friends or grandparents or parents.
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But it's not, it's not a, it's not the black plague.
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And this is why the market is doing what it's doing today.
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A massive change in consumer behavior will have an outside, outsized effect on different parts of the economy that rely on regular steady income.
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If you're not driving to work, you're not buying gas.
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But you're also not putting more miles on your car.
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So now your mechanics, everyone, everyone depends on everyone going to work.
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Six million businesses in America need that cash and that foot traffic every day.
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That's 78 million employees that fall into this category.
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If America is forced to shut down for any kind of self-isolation at home and spending shifts with 78 million people who are waiting for your phone call or your trip in.
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If that spending shifts online, the direct economic impact to small businesses, which is the backbone of our country, has lasting effects.
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Most businesses have 45 days of operating capital at any given time.
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A multi-week disruption has severe cascading effects.
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Layoffs, loss in wages, stores will close, higher unemployment.
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All of these things are so far beyond politics because real people's pain.
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Everybody's going to talk about the stock market today.
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It closed within the first six minutes and took a 15-minute breather.
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You need to think about your one cup of coffee wherever it is you buy it.
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You need to think about all the things that you do on the way to work.
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We are barely beginning to feel the effects of COVID-19.
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Many businesses in America, the economic contagion is going to be worse than the virus itself.
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Amazon, Netflix, Clorox, they're going to be fine.
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There's going to be a lot of pain on Wall Street.
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There already is for people who have to sell stuff because they bought on margin again like a dummy, like they didn't think this one through and they didn't have the money.
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But the pain on Main Street is the one that's really going to be felt.
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And it was felt last time and our big government bailed out all the big guys and forgot about Main Street.
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What you're seeing in Korea and China and Japan and Italy and even in Seattle are indicators that the localized shutdown of foot traffic due to COVID-19 is what we are really going to have to endure.
00:28:37.220
However, this is where we need to see people and not numbers.
00:28:50.360
This is the best of the Glenn Beck program, and we really want to thank you for listening.
00:29:08.800
If you missed any part of the day's show, please listen to it on podcast.
00:29:12.880
This is especially if you're a long term listener, you've been through it with 2008 and and all of the trouble that we've had.
00:29:20.340
If you were watching me on Fox and you heard my predictions of what's to come, we are now entering those days.
00:29:27.500
And I'm going to remind you over the next few days of some of the things we've talked about.
00:29:32.120
I feel I've always felt a press from I'm sorry to get all religious on you, but I have always felt impressed by the warnings in Ezekiel.
00:29:46.840
Those who have a view over the horizon, over the wall, and they can see trouble coming.
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If you warn, then the people what the people choose to do is their own issue.
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If you don't warn, God's got a problem with you.
00:30:03.040
As somebody who has a footprint in this country of about 50 million people a month, that is terrifying to me.
00:30:23.720
I'm not going to continue to warn you about the things because there's new things coming over the horizon and new things that we have to do.
00:30:30.840
And one of the things that I have to do is make sure that everyone understands this is not the black plague.
00:30:39.920
But don't dismiss this because it is going to Carl's cause hardship in something I am going to be relentlessly mocked for.
00:31:00.380
And I speak to those who have eyes and ears, everyone else mock all you want.
00:31:12.960
Whether that remains in place will be decided by whether this is a seasonal flu or not.
00:31:20.520
If it's not a seasonal flu, we're not going to be gathering in big crowds until there is a vaccine.
00:31:27.960
But everything we are proceeding as though this is a seasonal flu.
00:31:32.160
But I will tell you that this has been on my mind for a long time.
00:31:44.020
The covenant is something that has protected our country.
00:31:48.140
It was made by the pilgrims when they first came here.
00:31:53.700
And then the last time it was made was with Abraham Lincoln in 1863.
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And the turnaround at Gettysburg was tremendous.
00:32:06.660
He declared a covenant that we had to make as individuals, not just as a country, as individuals.
00:32:14.540
And we went from losing every battle to winning every battle.
00:32:28.020
I want to read this this proclamation that Lincoln made.
00:32:37.080
And I would ask that you would take this to heart and you would do this.
00:32:43.320
But I would ask that you and your family meet and do this today.
00:32:51.400
I'm just going to read two paragraphs from this proclamation.
00:32:56.380
Whereas it is the duty of nations as well as of men to own their dependence upon the overruling power of God,
00:33:06.440
to confess their sins and transgressions in humble sorrow,
00:33:10.660
yet with assured hope that genuine repentance will lead to mercy and pardon
00:33:15.840
and to recognize the sublime truth announced in his holy scriptures and proven by all history
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that those nations only are blessed whose God is the Lord.
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nations like individuals are subjected to punishments and chastisements in this world.
00:33:47.840
May we not justly fear that the awful calamity of civil war,
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I would just say the awful calamity that we are all facing.
00:34:05.300
may be but a punishment inflicted upon us for our presumptuous sins
00:34:10.680
to the needful end of our national reformation as a whole people.
00:34:16.140
We've been the recipients of the choicest bounties of heaven.
00:34:20.620
Have we not been the recipients of the best men have ever seen in the history of all mankind?
00:34:40.840
You're lying to yourself or you're living in self-imposed ignorance.
00:34:45.420
We have been the recipients of the choicest bounties of heaven.
00:34:51.020
We have been preserved these many years in peace and prosperity.
00:34:55.360
We have grown in numbers and wealth and power as no other nation has ever grown.
00:35:05.400
We have forgotten the gracious hand which preserved us in peace
00:35:09.680
and multiplied and enriched and strengthened us.
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And we have vainly imagined in the deceitfulness of our own hearts
00:35:17.980
that all of these blessings were produced by some superior wisdom or virtue of our own.
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we have become too self-sufficient to feel the necessity of redeeming and preserving grace.
00:35:45.340
It behooves us then to humble ourselves before the offended power
00:35:57.780
I do not believe in punishments like so many people believe.
00:36:15.680
The most just system is one where there's not somebody saying,
00:36:22.560
The punishment is just built into your actions.
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When you stray away from truth and you start believing and propagating lies,
00:36:32.220
it will come crashing down, not as some punishment, bad,
00:36:37.220
just because you are breaking the laws of nature.
00:36:46.920
oh my gosh, Glenn Beck's called for the end of the world.
00:37:05.020
All I did was read the words of Abraham Lincoln.
00:37:10.320
It's not a coincidence that his name was Abraham.
00:37:51.020
But I feel compelled to tell you that we may do that on July 4th,
00:37:56.620
whether we're going to, whether we're together virtually or we're together in Gettysburg.
00:38:01.880
I think we're going to be together in Gettysburg.
00:38:03.820
But if we have to be there just virtually, we will be there virtually.
00:38:07.760
And I ask all of your churches, I ask every, every person within the sound of my voice that believes in God
00:38:16.780
and knows the blessings that we have received rain down upon us because this is a sacred land.
00:38:30.720
It's been a covenant that we've made and we've broken it.
00:38:50.300
We are in a place to where the world looks very unstable and we're going to see more unstable things.
00:38:58.780
And you are going to witness things that you've not seen before.
00:39:03.360
Things that you've like, I've never seen our country do that before.
00:39:20.300
To individually turn back to him and say, okay, what's out of order in my life?
00:39:44.140
And quite honestly, I think evil is just unleashed.
00:39:56.800
We're believing things as foolish as men can have periods.
00:40:11.000
If we can't recognize that truth, how are we ever going to be able to recognize the subtle truths?
00:40:24.040
I urge you today to honor this proclamation from Abraham Lincoln.
00:40:40.100
I'm only asking you this because I truly feel as though I need it.
00:40:46.360
But we're heading in places and the world is a very confusing place.
00:40:52.320
And I want to tell you the things that I'm supposed to tell you and nothing more.
00:40:59.860
And it is a very difficult job when you take it seriously.
00:41:04.980
I would ask that you, your family, your prayer circles, any, anyone is keeping me and this show and the information that we present to you in your prayers.
00:41:22.280
Please pray for me to be humbled, but in a very, very nice way.
00:41:33.180
I just need to make sure I am hearing what he wants me to share with you.
00:42:03.780
We're just talking about, yeah, we're just talking about this, this good advice versus the panic advice.
00:42:10.000
For instance, you know, it's the dumbest thing in the world to go out and buy a whole bunch of toilet paper.
00:42:17.520
And part of the reason to buy toilet paper is because if everyone else buys all the toilet paper when you need it for normal reasons, because you're out of toilet paper, it may be difficult to find.
00:42:31.420
However, the problem also is, is if, if, you know, this thing with Italy, where they've just said to half of the country, half of the population of Italy, stay home.
00:42:54.980
And it's hard to imagine it happening in the United States of America, but it could.
00:43:01.400
I mean, it's also a pretty hard thing to imagine that a socialist might have been the Democratic nominee.
00:43:11.060
Although he's getting blown out in recent polls.
00:43:13.600
It's like, and it's not like Joe Biden's a moderate.
00:43:15.700
I mean, this idea that he's in the moderate lane is, it's like, it's, it's about the same as saying he's in the young lane because he's the youngest Democrat running.
00:43:27.880
He's the youngest man running for president of the United States for the Democrats.
00:43:32.680
And then Trump, the spry 70 year old or whatever it is.
00:43:40.200
And it's, it is one of those things where, you know, you have to look at this and say, the only time I can remember seeing this, I think we discussed this last week, is in Boston during the Boston bombing.
00:43:50.100
They basically said, everybody, Boston, stay inside.
00:43:52.360
There's terrorists going around shooting people and blowing things up.
00:43:56.780
I remember thinking, there's no way this is the United States.
00:44:08.100
And people were like, yeah, I'd rather not get blown up or shot.
00:44:15.780
There's going to be people like, I'm not doing that.
00:44:20.860
But most people will say, if I can work from home, I'm going to work from home.
00:44:26.180
It's going to be, the problem is going to be when the effects start happening.