The Glenn Beck Program - November 12, 2026


Best of the Program ｜ Guest： Carol Roth ｜ 11⧸12⧸26

Best of the Program ｜ Guest： Jack Carr ｜ 11⧸11⧸26 Is Microsoft’s Worldwide Outage Just the Beginning？ ｜ Guests： Katie Hopkins & Kelly Stewart Harcourt ｜ 11⧸13⧸26

Episode Stats


Length

45 minutes

Words per minute

156.14

Word count

7,119

Sentence count

306

Harmful content

Misogyny

1

sentences flagged

Toxicity

2

sentences flagged

Hate speech

11

sentences flagged


Transcript

Transcript generated with Whisper (turbo).
Misogyny classifications generated with MilaNLProc/bert-base-uncased-ear-misogyny .
Toxicity classifications generated with s-nlp/roberta_toxicity_classifier .
Hate speech classifications generated with facebook/roberta-hate-speech-dynabench-r4-target .
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00:00:30 hey on today's podcast uh fear of success who's afraid of success a lot of people are a lot of
00:00:40 people are and we got a lot of success to build because the economy with affordability which is
00:00:47 a real thing but why are we talking about it the way we do why are we blaming it on one side or
00:00:54 the other what is the real problem with affordability i think we get into the actual
00:00:58 housing affordability on the full show but uh we talk about affordability and the uh nvidia ceo
00:01:05 what is happening carol roth is also uh on with us to talk more about the economy all that and so
00:01:11 much more on today's podcast you're listening to the best of the glenn beck program
00:01:26 your 401k today is being killed if you're invested at all in nvidia and tech nvidia is down another
00:01:37 10 points today 10 today um already and the ceo just resigned i want to thank him i'm glad i hope
00:01:47 she was really good in bed because all of us are paying for her uh but we have got lots of
00:01:57 questions we're going to continue to ask them uh as we go on i you know yesterday was um veterans
00:02:02 day and i want to talk to you about this um if you if you talk to a man you know who's been to war
00:02:09 and you ask them were you scared at all not the movie answer the real answer were you were you
00:02:18 afraid every honest vet that I have ever met says the same thing yeah I was terrified but what
00:02:26 choice do you you go you go you stuff it down and you go Mark Twain once said courage is resistance
00:02:34 to fear mastery of fear not the absence of fear mastery of fear which brings me to what i really
00:02:44 want to talk to you about um yesterday i talked about you know the fact that you're born for
00:02:49 these times we all are we're born for this um but we don't we doubt ourselves and we don't know how
00:02:55 to get there and we stop ourselves and this is something that i i want to next year i'm really
00:03:00 going to concentrate i'm writing a lot right now about men and boys and what the difference is and
00:03:07 how we get there and yesterday i i talked to you know i talked about the guy who's just comes home
00:03:13 and he sits in his truck or sits in his car for a while um engines off the phone is is lit he's not
00:03:21 ready to go in and yesterday i talked about you know because he's tired of not being the guy being
00:03:28 almost man you know not not who he is being almost and I was thinking about it last night
00:03:37 and you know for a lot of people it's not it's not that it's fear and nobody especially
00:03:46 guys nobody will say that out loud because men are not supposed to be afraid so let me
00:03:53 go first I have been afraid of failing most of my life and I've also been afraid of succeeding
00:04:06 and the second one sounds crazy until or unless you felt it if you're the guy in the car you're
00:04:15 not imagining it and you're not alone Gallup recently looked at young men 15 to 34
00:04:24 One in four say they feel lonely a lot of the day.
00:04:28 Nearly half said they worry every single day.
00:04:32 So, you know, worrying every single day.
00:04:34 You're 15 to 30, worrying every day.
00:04:37 That's more than older Americans worry and much more than young men in nearly every other well-off country on earth.
00:04:46 People don't worry this much.
00:04:47 and there are millions millions of of men in their driveway millions of driveways every day worrying
00:04:57 and the saddest thing and i learned this because i'm an alcoholic i hid much of my life and my
00:05:05 drinking and everything else and then you stop hiding because you just are like i can't deal
00:05:09 with this anymore you we always feel alone we feel like we're the only one that feels this way
00:05:16 Read Plato, man.
00:05:17 People have been feeling this way forever.
00:05:20 But the fear of failure, I think we all understand.
00:05:24 You try, you fall on your face, everybody sees it,
00:05:27 so I'm just not going to try.
00:05:29 Psychologists have a name for the sneaky version of this.
00:05:33 It's called self-handicapping.
00:05:36 You cripple yourself, so you don't succeed.
00:05:40 and you do those in ways like you don't study for the test so if you fail it wasn't really you 0.72
00:05:48 you know it was the not studying it wasn't me you never really go for the job or the girl or
00:05:55 the business or the comeback because you don't want to fail and if you never really try you
00:06:01 never really lose but the problem with that is you never really live either
00:06:07 but everybody's watching right everybody's watching researchers at cornell had college
00:06:15 students put on a t-shirt and they were like what is the most embarrassing thing we can get a college
00:06:20 guy to put on a t-shirt and they decided it was barry manilow's face and poor barry manilow so
00:06:26 they put a t-shirt with with barry manilow's face on it because the student said that's embarrassing
00:06:32 And then they walked him into a room full of their peers.
00:06:35 And afterwards, they asked the kids wearing the T-shirts, how much of the room noticed your shirt?
00:06:42 They said half the room was staring at me.
00:06:45 The real number was about a quarter.
00:06:48 Now, what does that tell us?
00:06:49 That tells us that we think the spotlight is on us all the time.
00:06:54 That's not true.
00:06:56 Most people are too busy worrying about their own T-shirt that they're wearing.
00:07:00 and the disaster that you're bracing for there was another small study out at penn state
00:07:07 they took chronic worriers people who worry all the time but i think we're all becoming chronic
00:07:12 worriers and we said write down all of your worries and then check back in 30 days more than
00:07:18 90 of what people wrote down never happened and of the few that did about a third of those turned
00:07:25 out to be much better than they had expected there's a roman philosopher who wrote uh
00:07:34 it was a couple thousand years ago we suffer more often in imagination than in reality
00:07:42 nothing has changed except the size of the screen we do it on fear of success however is stranger
00:07:53 The guy who did Maslow's, you know, hierarchy of needs, he said he saw it so often in people, the fear of success, that he gave it a different name.
00:08:05 He called it the Jonah complex is after the, you know, Jonah, you know, who didn't do what he was called to do.
00:08:13 So Maslow wrote, we fear our highest possibilities.
00:08:17 listen to this we are afraid to become the man we glimpse in our best moments now why would anyone
00:08:26 be afraid of winning why would anyone be afraid of being your your best self it's amazing
00:08:33 you're afraid of it because success raises the bar and then you can't lower it again
00:08:41 not for others but more importantly for yourself if you actually lose the weight if you actually
00:08:47 get sober, you start the company, you become the husband that you always hoped you'd be.
00:08:52 Now you have to keep being that guy every single day because success, it's proof.
00:08:59 Now it's going to cost you some old friends, the ones who liked you better when you were stuck with
00:09:03 them. But that voice in the back of your head keeps asking, who do you think you are? Who do
00:09:10 you think you are. That's a lie. But once you prove you can, you no longer can say, I can't
00:09:18 do it. I couldn't do it because you did it. So failure threatens what you have, but success
00:09:26 threatens your excuses. And most of us are comfortable living in excuses. I'm going to
00:09:33 talk about this slightly next hour where I'm talking about, everybody's talking about
00:09:39 affordability and everybody's arguing about what affordability they're arguing the wrong thing
00:09:43 they're arguing excuses i want to find the real reason not the excuse
00:09:49 when i started the world's first online network everyone said it was impossible impossible
00:09:59 and i have to tell you there were days where i thought it is impossible we're never going to make
00:10:05 it. And I knew that if I failed, it would be humiliating because all of the people who wanted
00:10:13 to dance on my grave would hold a massive party and it would be just a massive humiliation.
00:10:21 But also there were times when I was afraid I would succeed because the company is built kind
00:10:28 of, you know, around me and I'd have to carry it. And both, both fears taught me something.
00:10:35 or no, didn't teach me, tried to convince me that I should accept just stay in the car.
00:10:44 The car is safe.
00:10:46 Nothing bad happens in the car.
00:10:47 Nothing, nothing, nothing bad.
00:10:49 Everything's going to be great.
00:10:50 Just stay where you are.
00:10:52 Well, nothing bad happens there, but nothing happens there.
00:10:56 Eventually, nothing good happens there.
00:10:59 The same Cornell psychologist who did the T-shirt study, he started studying regret.
00:11:06 And in the short run, we regret the things that we did.
00:11:09 But the longer we live, the more regrets drift towards the things we never did, that we never tried, that we dismissed.
00:11:18 You get over the face plant, but it's the door that you never opened that follows you around for the rest of your life.
00:11:26 this goes to Teddy Roosevelt
00:11:28 Teddy Roosevelt you know in the arena
00:11:30 that poem you know
00:11:32 the credit belongs to the man in the arena
00:11:34 whose face is marred by dust
00:11:36 and sweat and blood who
00:11:38 if he fails at least fails
00:11:40 while daring greatly
00:11:41 so that his place will never
00:11:44 be with those cold and timid
00:11:46 souls who neither knew
00:11:48 victory nor defeat
00:11:49 wow
00:11:50 cold and timid
00:11:54 that's what the car does to a man that's what that couch does to a man a little bit at a time
00:12:01 so let me give you a couple of things on how to get out of the car
00:12:06 first say it out loud not on the internet to one man you trust you know what i'm really i'm afraid
00:12:13 i'm gonna blow this i'm afraid whatever it is just say it out loud fear grows in the dark
00:12:17 it shrinks the moment another man says yeah i know me too and then write it down
00:12:22 do what those worriers did at Penn State put a date on it and check back in a month
00:12:29 make your fear make your fear keep a track record because it's going to lose every time it will
00:12:37 then shrink the step you don't have to climb the mountain tonight you just have to open the car
00:12:44 door make the one call send the application walk into the meeting talk to the girl pick the one
00:12:51 thing you can do before your head hits the pillow tonight one thing and decide who it's for
00:12:58 because fear is always about you purpose is always about them
00:13:06 the kid asleep down the hall the wife who has been waiting for you to come back
00:13:13 the grandson that you've not met somebody in your life needs you to be the man that you're
00:13:21 afraid to become. Be that man. You were born for this. Also expect it to be hard. You know,
00:13:31 Frederick Douglass said, if there is no struggle, there's no progress. That's part of it. Struggle
00:13:37 isn't proof that you're on the wrong road. Usually, unfortunately, it's proof you're on the right
00:13:43 road. Just don't do it alone. And I think that's the whole point of what I want to do next year,
00:13:50 this mission of men. I'm calling born for this. We've got to find our guys. Two or three men who
00:13:57 will call you when you go quiet and tell you the truth when you start making excuses. We have to
00:14:04 have those people in our lives. If you believe what I believe, you were never sent into the arena
00:14:12 alone. You weren't. The God who made you didn't build you for the car. He built you for what's
00:14:17 on the other side of that door.
00:14:19 The door you're most afraid to open
00:14:22 is usually the one you were built to walk through.
00:14:28 All those veterans that we were thanking yesterday,
00:14:31 they're not fearless men.
00:14:34 They were afraid, but they moved.
00:14:37 You don't have to storm a beach.
00:14:41 You just have to get out of the car.
00:14:43 So turn off the phone, turn off the game,
00:14:47 open the door, and walk in.
00:14:50 Somebody inside has been waiting a long time
00:14:53 for the man you're afraid to become.
00:14:59 Remember, you were born for this.
00:15:04 More in a minute.
00:15:10 This is the best of the Glenn Beck Program,
00:15:12 and we really want to thank you for listening.
00:15:16 Christmas is when we remember what we actually believe, not the watered-down version, the real
00:15:26 one, family around the same table, the same stories, the same room. We call it Christmas
00:15:31 because that's what it is. A lot of places won't say it anymore. They'll say it's the holidays,
00:15:36 like the word itself is something you have to step around. Well, we won't do that. Christmas
00:15:41 is Christmas. And that same feeling used to live in the things that we bought. We used to care
00:15:46 where something was made. When we were told it was cheap and fast, you know, that wasn't good
00:15:51 enough, but now it is. And we've stopped asking. American giant never stopped. American cotton,
00:15:55 American factories, American hands, clothing built heavy, honest, meant to be worn year after year.
00:16:01 We now see the cost of cheap, lost jobs, lost towns, and a lost generation. This Christmas,
00:16:07 put something under the tree made by people who still take pride in what they do.
00:16:11 American made, American quality, an American idea.
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00:16:26 This is the best of the Glenn Beck program, and we really want to thank you for listening.
00:16:30 carol roth is uh with us now if you don't get her newsletter you should uh her website is
00:16:44 carol roth.com slash news get her newsletter uh she's got a lot of other things uh that are
00:16:51 that's happening there and i want to talk to her about that here in just a second but first i want 0.81
00:16:54 to start with this question um how much would the american economy improve carol if american 0.52
00:17:01 politicians and businessmen would stop sleeping with chinese spies it seems to be uh a rampant 0.61
00:17:10 issue and it's it's like you said it's not just in the business realm it's uh it's in politics 1.00
00:17:16 um and certainly it's a it's a strategy of the ccp but this is crazy glenn i mean this is one 0.62
00:17:23 of the biggest corporate scandals of my lifetime. And it is involving not only the previous to the 0.94
00:17:33 announcement, the largest company in the entire world. It was now it's the second largest company
00:17:40 in the entire world. It is the primary driver, the industry that it's in of our economy. And so
00:17:47 this is a linchpin of that growth of our economy. As you said, it involves possible spying or at
00:17:55 least, you know, sort of unsavory intermediaries to China. And the thing that comes up to me for
00:18:02 me, which I'm sure you're already all over, is the timing of this, because this is something
00:18:07 that has been known for, you know, in internal circles, as well as supposedly in the administration
00:18:13 for quite some time so why is it now that all of a sudden this is coming to light you know is it
00:18:20 so that was that was the point of my monologue this morning when i first came in is let's look
00:18:27 at the timing i want your why why now what do you what do you suppose is happening all right so in
00:18:33 my choose your own adventure book and this is just me you know gaming things out strategically but as
00:18:40 you know, when I game things out strategically, usually I'm fairly spot on on these things.
00:18:44 One of two things, right? Either it's the Democrats asserting dominance, that they've
00:18:50 been sitting on this information. And now that they're in power, and they don't want AI to be
00:18:57 a strategy, because, you know, God forbid, we do things that put us ahead of China and grow the 0.50
00:19:02 country, that they're asserting dominance, and they're sending a message, potentially,
00:19:06 to other tech companies and all the infallible humans that sit atop of them.
00:19:12 If you don't fall in line, we've now taken down the guy, the big evangelist,
00:19:18 the biggest company, we could do it to you.
00:19:21 Now, it doesn't have to just be them.
00:19:23 It could also be the CCP asserting dominance.
00:19:27 But somebody, Glenn, is asserting dominance and sending a message
00:19:31 to the entire tech community that will reverberate throughout the American economy.
00:19:39 I hope to God it is China that is doing this. If that was the Democrats, and to me that makes 0.55
00:19:50 more sense because the Democrats want to send a message to, I mean, look at Palantir, the head
00:19:55 of Palantir yesterday. I'm a Democrat. I've always been a Democrat. I love Democrats. Democrats are
00:20:00 my buddies. I love you. I mean, they are immediately folding. Well, this was the first
00:20:06 thing I, you can go back and you can check my ex posts. And one of the very first things that I
00:20:11 posted after the, the absolute route that happened, uh, was watch the tech bros flip their quote
00:20:19 unquote ideals in three, two, one. And here we are. And part of it is just, they don't have any
00:20:26 ideals or principles uh but there there it does seem like somebody is sending a message and if
00:20:32 you look at some of the other things you know they're coming out the very first messaging
00:20:35 we're going to come out we're going to stop data centers we're going to pause ai right why is that
00:20:41 their first messaging and then we follow up with this i mean i'm not nancy drew here but you know
00:20:47 the clues are starting to align oh that's bad um oh geez uh so tell me what this means to the
00:20:58 economy i mean if they do take ai i mean they're they're they seem to be serious about all of the
00:21:06 data centers and everything else if i mean the the key to um the donald trump plan is energy
00:21:16 and they're all over that um energy lots and lots of energy and data centers and that they seem to
00:21:25 want to stop both of those but i think they're serious unless they all fall in line and you know
00:21:32 start to again shadow ban and and uh and you know silence people like us um they're serious about
00:21:41 that? What is the future of America if this is their plan? So this is my perspective on AI,
00:21:50 because I know there are a lot of people who may be concerned about it. They may be concerned about
00:21:55 data centers. They may be concerned about handing over tasks to these autonomous agents, so to speak.
00:22:03 But I look at it as national defense and national security, because if you look at primarily what
00:22:10 the AIs are trying to do. A lot of them are trying to hack. And so from a defense standpoint,
00:22:16 if you have our enemies, if you have the Chinas and the Russias and the other countries out there 0.80
00:22:23 developing AI that are trying to hack into our financial system, our energy grid, everything
00:22:30 that we operate on as a country, because of course, we've taken away all the analog redundancies,
00:22:36 which makes no sense, but that's a talk for another day, you know, then we're in a place
00:22:42 where we need to be investing at a minimum, if nothing else, to be able to counter those hackers.
00:22:50 If you stop the development and you don't let us lead AI, then what's going to happen to our
00:22:57 banking, to our banking system? What's going to happen to our grid? What, you know, look at what
00:23:01 happened in France with just grocery stores that were connected to the internet. We need to have
00:23:07 that leading development. So it is a critical, think of it as nothing, if nothing else,
00:23:12 as part of our defense spending, it has to happen. So that's one piece of it is that it could,
00:23:19 if we don't invest in it, it could just absolutely take down everything. It can put us to a standstill.
00:23:25 In another sense, if, you know, if let's say that doesn't happen, but just in terms of the
00:23:31 biggest driver of growth, the reason we haven't had a recession, the reason why the GDP is being
00:23:38 projected at, you know, 3.4% or more in the final quarter of the year is because of the investment
00:23:45 in the capital that's being made in and around AI. And that includes data centers and all the
00:23:51 jobs that it's creating, including well-paying jobs for people like electricians and, you know,
00:23:58 other skilled workers. So if we're now going to say we're going to thwart the biggest driver of
00:24:05 growth, one, it could put us into a recession. And two, they're going to scramble to try to
00:24:13 replace that in the economy. And where are they going to do that? It's certainly not going to be
00:24:17 in the private sector. It's going to be re-pumping up the government sector. One of the things that
00:24:22 the Trump administration has been focused on is reducing and actually been effective, reducing
00:24:27 the government jobs and moving that towards the private sector. So again, it goes back to this
00:24:32 whole socialist Marxist situation. So the good outcome is that, you know, the economy ends up
00:24:39 in a recession. The bad outcome is that China takes over everything and we have like a massive, 0.99
00:24:46 massive cyber issue oh my gosh um before we leave the navidia uh thing i have uh john lonsdale on
00:24:58 with me today oh nice yeah kind of a good kind of a good interview to have today comes out for
00:25:04 insiders at five o'clock by the way um what would you ask him on this whole thing on what do you
00:25:12 think the important question is to ask yeah the guy from palantir yeah so if i was talking to to
00:25:20 joe lonsdale the the question i would ask is how does the tech community navigate the fact that you
00:25:34 have Democrats, as well as we know, agents from China working with activists trying to stop
00:25:42 America from moving forward and being able to at a minimum defend itself with AI? I think that's
00:25:50 the big question, because, you know, not only based on the things that we just discussed,
00:25:54 but silly things like the fact that, you know, there was a big data center that was supposed to
00:25:59 be built on an abandoned mall site. And, you know, somebody linked to the CCP reportedly
00:26:06 touched base with an activist who was going around and was like, you know, I've thwarted this.
00:26:12 And they said to her, what is it that you'd like to see there? And she says, a trampoline park.
00:26:17 Like, this is the level of economic idiocy that we're dealing with in our country. But, you know, 0.99
00:26:24 people will do anything for a quick buck. And so I would be asking him, how do we deal with this
00:26:31 very clear, targeted campaign, both coming from overseas and coming from inside the house? The
00:26:38 call is also coming from inside of the house. How do we deal with that so that we can still
00:26:42 have the investment to continue to grow and protect our country? Okay. That interview with
00:26:48 Joel Lonsdale is coming up at 5 p.m. for insiders.
00:26:52 If you're not an insider, go to glenbeck.com slash torch and sign up now.
00:26:56 There's a ton of stuff going on and all kinds of great information that you'd have access to way before anybody else does.
00:27:04 I want to play a clip of Dave Smith.
00:27:07 He was on a podcast and I want to play it and then I got to take a one minute break and then I want to get your reaction to it. 0.96
00:27:13 Listen to this, particularly for men.
00:27:15 There's something really important about being an owner.
00:27:18 And when I say an owner, I just mean like being in the owner class of society, being in the like the self-sufficient class of society, being in the like I can provide a life for myself and potentially a family.
00:27:30 You know, it doesn't have to be like you live in a mansion or anything like that.
00:27:33 But like, I got you like there will be a roof over your head.
00:27:36 We will have a car.
00:27:37 You'll be OK.
00:27:38 If young men in their 20s can't have that to offer to a chick, you get really bad things in your society.
00:27:46 radical politics in the left and right that are not good when it becomes a thing where like oh
00:27:51 you got to kind of make a million dollars a year to live kind of a middle class lifestyle but what
00:27:56 does that mean it just means the middle class is shrinking more and more and more and all these
00:28:00 people who used to be middle class are now something below that they're not you know like
00:28:04 well you just said the average person can't afford the house they're living in
00:28:07 that person isn't middle class anymore so you have this kind of stratification
00:28:11 i want to get your uh your take on that um because this is what people are saying and
00:28:17 believing and and what is the solution to this ownership is is america it is what we were built
00:28:26 on um we have to be in we have to have ownership class we have to and it has to be middle class
00:28:32 that can own things. What is your comment on, on, you know, that clip? Because that's what
00:28:41 everyone is thinking and saying right now. You know, it's funny, Glenn, I'm aware of this
00:28:47 fantastic book called You Will Own Nothing that I feel like makes a lot of great points written by,
00:28:53 I believe, a woman who's fairly smart, maybe a friend of yours, that made this argument.
00:28:58 She's been on the show a few times.
00:28:59 I think, yeah, I think she's been on the show a few times. That has made this argument many, many times that absolutely ownership is critical. It's critical to freedom. It's entwined in America. And the elites are the ones who don't want you to own anything. They want to own everything. And it's why we need to fight back and own things.
00:29:16 What I find so evil about this clip is this has been a strategy of both the Democrats, and I know you talked about this on your show over the past couple of days, as well as some of the quote unquote, you know, far right and libertarian podcast bros to take something that is a serious issue and elevate it and bastardize it in a way where it seems that everything is hopeless.
00:29:45 And I'm not saying that we don't have real issues, because I've also come on here and talked about the real affordability issues and the fact that we do need to increase ownership.
00:29:54 But for Dave Smith to say that everybody needs a million dollars a year to be in the average, I mean, that's like the top 0.5 percent of income in this country.
00:30:08 That is absolutely absurd.
00:30:11 And yes, housing is expensive and there are policies that we should be putting in place at the federal and local level, but they're the ones who are making it sound hopeless.
00:30:23 And instead of saying, well, here are the things that you can do and here's what you should be looking into.
00:30:28 And if you know, if you're young and you're thinking about how do I approach school, like, here's your approach. They're absolutely using hyperbole in order to demoralize. And the impact of that, which I think was intentional, and as I think you know, is intentional, was to get the Republicans out of power. And I think that part is evil and disgusting.
00:30:51 i i agree with you i mean i have you know it's it's crazy because i'm being beaten up by the
00:30:57 left and the right because i you know commented on van jones you know and everybody's like there
00:31:02 is a real affordable yeah of course there is there is i mean yes i i'm i'm at the gas station
00:31:08 with people i see what gas costs me and i'm shocked by it i go to the you know i go to a
00:31:13 you know mcdonald's drive-thru with just me and my wife and i see it's 35 and i'm like what the
00:31:19 How is anyone affording that?
00:31:21 There is a real issue.
00:31:23 The problem is everyone's pointing the finger at blame and fear and no one is talking about the actual issues and what can be done to fix those things.
00:31:35 And not mentioning how many of those issues are state and local and have been driven by democratic policy.
00:31:43 Why is McDonald's so expensive?
00:31:46 because they put these crazy minimum wages in place and we know the impact and how that flows
00:31:53 through. And we've warned that your Big Mac was going to cost you $25 one day because of that.
00:31:58 Why is gas so expensive? Do you know who makes the most money on gas? It's in terms of profit.
00:32:04 It's not the gas station. It's not the gas company. It's the government. Look at the
00:32:09 breakdown of every dollar or every dollar of gasoline that's sold and what percentage. So
00:32:16 the local jurisdictions could make that more affordable for you. Same thing with a lot of
00:32:21 the housing. There are things we should be doing federally, but a lot of it goes back to state and
00:32:26 local zoning. So instead of saying, here's the real driver and here's where you should be directing
00:32:33 your anger they're saying it's hopeless it's the republicans and again i'm not letting them
00:32:39 off the hook but it's i know it's just a lie it's just a lie yeah um carol love to have you come
00:32:46 back because i want to talk to you about health care and what's going to come with health care
00:32:49 because i think that's where they're going to try to gain all the jobs in the economy they'll take
00:32:53 this from the in the out of the economy carol roth.com slash news get her newsletter you're
00:33:00 streaming the best of Glenn Beck. To hear more of this interview and others,
00:33:03 download the full show podcasts wherever you get podcasts.
00:33:10 All right, so let's talk about affordability. A poll of young voters reported this year,
00:33:15 74% say the cost of housing in America has reached a crisis, not a problem, a crisis, and it has.
00:33:24 In New York this spring, crowds marched demanding a freeze on rent and across the country,
00:33:30 socialist candidates, you know, had their villains picked out, you know, greedy landlords and Wall
00:33:35 Street investors and developers and Republicans, of course, Donald Trump, Donald Trump, Donald Trump.
00:33:41 If you're 25, I don't need to tell you the crisis is real. You're living it. You have roommates
00:33:47 you didn't plan on having. You've done the math on a house and you close the app. You're like,
00:33:52 well, not going to get a house. So instead of blaming the Democrats or the Republicans or
00:33:58 whatever can can we actually have a conversation on who actually did this what is the actual problem
00:34:05 at the end of 2019 the median price of a new home in america was 331 000 by the middle of this year
00:34:15 it was 411 000 almost 80 000 more in six years that's not inflation what the hell happened there
00:34:25 did landlords suddenly discover greed in 2020 did did the landlord discover all of a sudden greed
00:34:33 because donald trump was in office no something else happened in 2020 now what was it well in
00:34:40 march of that year the federal reserve cut its key interest rate to zero and it kept it there
00:34:47 for two years then it went further it created trillions of new dollars and used a huge chunk
00:34:54 of that to buy mortgage bonds on purpose to push mortgage rates down. Why? They did that so the
00:35:03 economy wouldn't collapse during the lockdowns. Now, you can argue, you know, that may have made
00:35:08 sense for a few months, but the Fed kept its foot on the gas for two full years long after the
00:35:14 emergency passed. But it worked. In January 2021, the average 30-year mortgage hit 2.65%. That's
00:35:22 lowest ever recorded and that sounds that i mean that's a gift right no it's not when money is
00:35:30 almost free every buyer can suddenly afford a bigger loan so every buyer shows up families
00:35:38 investors people buying a second house and they're all bidding on the same houses because you can't
00:35:43 build a neighborhood over a weekend we stopped building houses because that's what the government
00:35:50 kind of encouraged everybody to do after the big crash so it becomes an auction and the government
00:35:57 just handed every bidder in the room a bigger paddle the houses didn't change the bids did
00:36:04 because everybody had more fake money in their hands and then came the hangover all that cheap
00:36:11 money helps set off the worst inflation in 40 years so in 2022 the same fed slammed rates back
00:36:18 up. Today, mortgages run about six and a half percent. And now everybody's like, wait a minute,
00:36:23 I can't afford that. Do the math on a $400,000 home. Okay. At 2.65%, your payment's about $1,600
00:36:30 a month. At six and a half, it's $2,500. Same house, almost $900 more every single month for
00:36:38 30 years. Why? Because the Fed made cheap money because the government wanted it.
00:36:44 so your generation got hit twice first cheap money drove all the prices up then expensive
00:36:52 money locked you out of that house on higher prices and then it got worse because millions
00:36:57 of owners who grabbed those houses at two and a half percent they're not going to sell why would
00:37:04 they trade a three percent mortgage for six so the houses you want may never even hit the market
00:37:09 Nobody wants to get a new loan.
00:37:12 That wasn't the landlord.
00:37:16 That was the central bank, the Federal Reserve.
00:37:22 Now, big investment firms, are they buying houses?
00:37:26 Yeah.
00:37:27 Yeah.
00:37:28 In some neighborhoods, they've been really aggressive.
00:37:31 But ask why Wall Street wanted your smarter home in the first place.
00:37:36 Why did they want that starter home?
00:37:37 Why did they want it?
00:37:39 Because Washington made borrowing nearly free, and your city made building nearly impossible.
00:37:47 So that means houses were scarce, and the money is cheap.
00:37:53 What does that do?
00:37:54 That means the biggest wallet wins.
00:37:58 The investor didn't create the game.
00:38:01 He just played it better than you could, because he had more money.
00:38:06 So now do we punish the investor?
00:38:08 Do we scream at the investor and say, look at you, you greedy SOB?
00:38:12 Or do we say, what caused this and how can we fix this?
00:38:18 Now, second half of the story.
00:38:21 Why not just build more houses?
00:38:23 Because in most of America, it's illegal to build what you need.
00:38:29 The National Association of Home Builders, their estimates show regulation adds $94,000
00:38:36 to the price of a new home. That's permits, fees, delays, codes. Then there's zoning and huge
00:38:43 stretches of American cities. The law says one house per plot, no duplex, no townhouse, no small
00:38:49 apartment building, minimum lot size, parking requirements, years of hearings. The starter home,
00:38:56 the kind your grandparents bought at 24, has been regulated nearly out of existence, not by the
00:39:02 market by city councils. You know, the meetings none of us go to. So then the socialists step in
00:39:12 with a fix. Rent control. Freeze the rent. Well, that sounds kind, right? For the person already
00:39:20 in the apartment, it helps. But economists at Stanford studied what happened when San Francisco
00:39:26 expanded rent controls. Landlords covered by the new rules cut the number of rental units they
00:39:35 offered by about 15%. They turned apartments into condos and then they sold them. They got out. So
00:39:42 fewer apartments meant higher rents for everybody still looking because they sold the condos because
00:39:46 the Marxists stepped in. Rent control protects the person who already has the key. It punishes
00:39:55 the person still knocking at the door if you're 23 you're still knocking it's musical chairs that's
00:40:02 all it is rent control doesn't add a chair it glues the people already sitting into their seats
00:40:08 and then it quietly just takes the few chairs that are left away and the music keeps playing
00:40:13 and more and more of us are walking around the table going what the hell there's not even a chair
00:40:17 at the table see this is why nobody wants to have this conversation because you start to see what
00:40:24 the real problem is and then it requires courage to actually stand up and be the politician to say
00:40:33 okay i know what this is you're gonna go against the central banks good luck that's what they'll 0.56
00:40:38 tell you that's what they'll tell you good luck well damn right damn right i i'm tired of being
00:40:44 controlled by the big banks in the federal reserve i'm tired of it they should be audited
00:40:50 there why are they above the law why are they even messing with any of this stuff
00:40:58 okay so what actually works building that's what actually works building more homes build build
00:41:06 build and it doesn't take a miracle it's already happened minneapolis loosened its rules and let
00:41:13 people build from 2017 to 2022 the city grew its housing supply by 12 percent now what's that going
00:41:21 to do to rent according to pew rent in minneapolis rose one percent over that stretch while they rose
00:41:28 14 in the rest of minnesota do you want to pay 14 more or one percent more all you have to do is
00:41:37 build nothing nobody froze any anything nobody seized anything there was no marxism involved
00:41:43 they just got out of the way and let the market work the free market is the answer
00:41:50 and it's the only one that has ever made housing cheaper for any period of time when builders
00:41:57 compete for renters renters win when the government decides who gets to build what they get to build
00:42:03 where they get to build when they get to build the people who already own something win and you
00:42:09 who don't have a house you who's trying to have a starter home you wait and the same government that
00:42:16 that created the shortage is now asking for more power to fix it the people who create the problem
00:42:22 cannot fix the problem that's the arsonist that wants to run the fire department
00:42:26 so if you want to change you want to change this don't join the marxist or the republican club
00:42:36 go to a city council meeting just one watch what happens when somebody proposes building 40
00:42:44 townhouses watch who shows up to stop it it's not going to be a wall street banker
00:42:51 It'll be your neighbors, the politicians who need their votes.
00:42:56 That's where your house is being decided.
00:42:59 Bring a friend, speak for two minutes.
00:43:02 And to the parents, especially those of us who already own a home,
00:43:07 some of that zoning is protecting our property values at our children's own expenses.
00:43:12 We should be honest about that as well.
00:43:14 We should look into what Houston does.
00:43:16 Houston is the only major city in America that doesn't have zoning requirements, and it works fine.
00:43:23 There is no zoning committee in Houston, and it's fine.
00:43:28 Why do we insist on having one everywhere else?
00:43:32 If you want your grandchildren to live in your town, somebody has to be allowed to build them a house.
00:43:39 We had our chance at 24.
00:43:40 They deserve theirs.
00:43:41 because this is true about housing and almost everything else.
00:43:47 You can't share your way out of a shortage.
00:43:50 You have to build your way out.
00:43:53 The landlord is not the one that made money cheap.
00:43:56 The landlord isn't the one that wrote the zoning code.
00:44:00 Find the people who did and vote accordingly.
00:44:09 This is the best of the Glenn Beck Program.
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