The Glenn Beck Program - Best of the Program ｜ Guest： Carol Roth ｜ 4⧸7⧸25

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00:00:12.560 Scotiabank. You're richer than you think.

00:00:15.140 Oh my gosh.

00:00:17.320 Was today another Black Monday? 0.78

00:00:20.760 That's what we started.

00:00:21.960 When we started to record today's show,

00:00:24.500 flashback to 1987, see how bad that day actually was.

00:00:28.840 And did it happen today?

00:00:31.800 Also, what's behind the human psyche of thinking,

00:00:34.520 yeah, I could outrun a horse.

00:00:36.480 And Carol Roth joins us all on today's podcast.

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00:01:57.660 Hello, America.

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00:02:51.120 You're listening to the best of the Glenn Beck program.

00:02:55.140 Hello, Stu.

00:02:57.360 Glenn, how are you?

00:02:59.660 Panicked.

00:03:00.260 Panicked.

00:03:00.820 Panicked.

00:03:01.340 Things are bad.

00:03:02.160 Things are, they're going to get a little bit better.

00:03:03.480 No, they're bad.

00:03:04.820 That's what we're going to get today.

00:03:05.780 The ups and downs of the market every 10 seconds.

00:03:07.920 I mean, I got to tell you, I'm not concerned.

00:03:10.760 So it could be very, very, very bad.

00:03:13.200 No, no.

00:03:13.500 When you're not concerned, it's almost the worst possible thing.

00:03:16.680 I'm actually, I'm actually okay through all of this.

00:03:19.060 I'm not like panicked or, you know, or anything. 0.96

00:03:21.520 That's because you're an evil rich person, Glenn. 0.93

00:03:23.680 No, no. 0.99

00:03:24.700 Lost a lot of money last week as an evil rich person.

00:03:28.000 Yeah, a lot of money.

00:03:28.860 A lot of money.

00:03:29.300 No, just don't think that it was, I don't know.

00:03:33.620 You know, Jim Cramer's out there.

00:03:35.340 And Jim Cramer's kind of the opposite of me.

00:03:36.920 Whatever he says, and, you know.

00:03:38.640 I think this is, people are always so tough on Jim Cramer.

00:03:41.800 It's BS.

00:03:42.500 The poor guy.

00:03:43.180 He goes out there and he makes a bunch of stock predictions.

00:03:45.300 Honey, honey, honey.

00:03:46.800 Honey, honey. 0.50

00:03:47.920 Yeah.

00:03:48.180 Just trying to sell it.

00:03:49.200 Just trying to sell it.

00:03:50.020 Oh, okay.

00:03:50.300 He's wrong.

00:03:50.940 He's wrong.

00:03:51.440 Anyway.

00:03:51.840 Okay.

00:03:52.020 You know, bloodbath, crash, Black Monday, Asian markets sliding as we speak.

00:03:59.020 We are now 21 minutes and 26 seconds away from the open.

00:04:03.400 From the apocalypse.

00:04:04.820 I mean, look, I don't know.

00:04:06.540 Who knows what's going to happen?

00:04:07.540 We've had, what, two or three really, really bad days in a row.

00:04:11.380 Like, you know, four-digit drops.

00:04:13.800 Yeah.

00:04:14.280 You'd prefer to avoid those.

00:04:16.760 I don't think we'll see another whole, like, it would be surprising.

00:04:19.620 Even during COVID, I'm thinking back to the COVID days when, like, there's a real reason

00:04:22.840 for stocks to be dropping, right?

00:04:24.280 Like, we're just turning all of our businesses off for six months.

00:04:27.120 I think this is all fear.

00:04:29.240 In that period, though, we still saw days of big gains.

00:04:32.300 So, I would think that it's going to bounce around wildly is what we're going to see until

00:04:36.040 this thing settles.

00:04:37.320 And if it continues to escalate, like, for example, we put all these tariffs on China.

00:04:42.680 They responded with 34% tariff of their own.

00:04:45.540 Like, what Donald Trump promised going into this is that he would, if you raise tariffs

00:04:50.760 on us, we're going to continue to raise them on you, right?

00:04:54.660 I don't, I don't think, I don't want that to happen.

00:04:57.580 Right.

00:04:58.000 But if he, if he could, if he goes there, and then China goes there, and we have this 0.75

00:05:01.780 escalation, I would assume we're going to, this is going to last longer.

00:05:04.940 So far, you have 50 countries that have asked to negotiate the tariffs.

00:05:09.100 They're like, um, we've, we've, we've, we've rethought this.

00:05:12.740 Maybe we'll negotiate.

00:05:14.100 Um, Vietnam went to zero.

00:05:16.400 Are we happy with that outcome?

00:05:18.820 I'm happy with negotiating tariffs down.

00:05:21.440 So you want them to zero.

00:05:23.000 I would love them to be at zero.

00:05:24.520 You would love them.

00:05:25.060 Yeah, I'd love to.

00:05:25.580 I would love them to be at zero.

00:05:26.540 Yeah, I would love them to be at zero.

00:05:27.680 That would be.

00:05:28.420 So if a country turns them to zero, we should go to zero would be your policy.

00:05:32.460 That would be my hope.

00:05:34.100 Now that has not happened so far.

00:05:35.820 No, I know.

00:05:36.300 We hope that changes.

00:05:37.400 I hope that changes.

00:05:38.080 I hope that changes.

00:05:39.040 Because I, I'm with you.

00:05:39.820 I mean, I hope that changes too.

00:05:40.980 I mean, their, their response to Vietnam was like, great, now buy more of our stuff.

00:05:45.360 And this is an interesting thing.

00:05:46.780 Like, like, so Madagascar, for example, this is one that is on our list.

00:05:51.200 And we, we were terrified.

00:05:51.740 Love their cartoon.

00:05:53.140 It's a great, we import their cartoon animals.

00:05:55.660 Yeah, yeah.

00:05:55.960 Because where else are we going to get talking animals?

00:05:57.540 No, we can't just find them in America.

00:05:58.980 They're not in America. 0.99

00:05:59.940 Right.

00:06:00.080 I assume they're all bred in Madagascar.

00:06:02.380 Yes.

00:06:02.720 We keep getting those movies.

00:06:03.900 Talking Animal Factory over there.

00:06:05.460 Yes, go ahead.

00:06:05.960 So, Madagascar, we have a trade deficit with Madagascar.

00:06:11.620 Okay.

00:06:13.200 They make vanilla beans, like, really well. 0.95

00:06:16.400 We really love, we, Americans love their freaking vanilla beans. 0.99

00:06:19.200 Yeah. 0.89

00:06:19.320 Right?

00:06:19.540 Love them.

00:06:19.760 Okay, so we take in a lot of their vanilla beans.

00:06:21.880 Right.

00:06:22.200 You'll be surprised to hear that the people of Madagascar have very little appetite for our 1.00

00:06:28.360 high-level financial software that we export.

00:06:31.660 Really?

00:06:31.820 Really?

00:06:31.900 Madagascar?

00:06:32.260 They don't want to take any of that.

00:06:33.480 Wow.

00:06:33.880 In fact, they don't have any money to buy anything that we sell.

00:06:36.940 Wow.

00:06:37.400 So, we have a trade deficit with that.

00:06:38.920 Huh.

00:06:39.300 Okay.

00:06:39.500 Like, that seems to me to be very logical.

00:06:41.700 That one seems to be, like, one we should negotiate, you know?

00:06:44.120 We should, on our side, we should be like, okay, Donald, Madagascar, we might want to

00:06:48.900 just look the other way on that one.

00:06:50.260 Right, right.

00:06:51.100 Right, yeah.

00:06:51.700 And so, Australia's the opposite, right?

00:06:54.000 Yeah.

00:06:54.280 Because they have, we have a trade surplus with them, largely because the things that

00:06:59.580 we export, you know, like-

00:07:01.500 They need.

00:07:02.200 Like, you know, technology and stuff.

00:07:03.820 Yeah, yeah.

00:07:04.060 They need.

00:07:04.420 The things that they export, which are actually also valuable-

00:07:07.420 Stuff kangaroos. 0.93

00:07:08.220 Stuff kangaroos. 0.93

00:07:08.760 Stuff kangaroos. 0.93

00:07:09.780 Not talking ones.

00:07:10.740 Those will only come from Madagascar.

00:07:13.040 Crocodile boots?

00:07:13.920 Crocodile boots.

00:07:15.360 Crocodile Dundee actors.

00:07:16.800 Yeah, okay.

00:07:17.780 All right.

00:07:18.020 That, if they need another sequel.

00:07:19.580 Yeah, we got that.

00:07:20.120 But, like, stuff like metals.

00:07:21.800 There was an article about this that I was reading recently that, like, metals was the

00:07:26.100 example where we were pretty good at coming up with that stuff ourselves.

00:07:31.260 We don't need to export.

00:07:32.340 It's far away.

00:07:33.080 They're heavy to ship.

00:07:33.960 Yeah, sure.

00:07:34.160 Like, not a great thing to export.

00:07:35.820 So, we have a trade surplus with them.

00:07:37.240 Have we tried tying them to helium balloons?

00:07:39.380 No.

00:07:40.020 All right.

00:07:40.340 Just saying.

00:07:40.920 Just saying.

00:07:41.600 So, that's one other part of the negotiation.

00:07:43.240 Yeah.

00:07:43.440 We could do more.

00:07:44.300 I don't know where helium balloons come from, but whatever that country that is, we have

00:07:48.180 to work with them.

00:07:48.940 But the point is-

00:07:49.620 God help us.

00:07:50.060 I hope it's Madagascar.

00:07:51.080 A lot of these arrangements make sense.

00:07:54.060 There's a reason why we have a deficit or a surplus.

00:07:57.200 Sure.

00:07:57.620 And, like, that is-

00:07:59.820 That's how it's supposed to work.

00:08:00.640 So, there shouldn't be for, like, a place like Ireland.

00:08:02.820 I mean, you know, we buy a lot of Lucky Charms.

00:08:05.580 We have to.

00:08:06.560 Too many.

00:08:07.380 Too many.

00:08:07.840 Too many.

00:08:08.560 You know, maybe we can slow down on that.

00:08:10.260 And we might, Ireland.

00:08:11.620 Oh, no.

00:08:11.820 We might.

00:08:12.260 We might slow down on me Lucky Charms.

00:08:14.940 So, I just say-

00:08:16.080 All leprechaun-themed items?

00:08:17.980 Yeah.

00:08:18.400 That's not good.

00:08:19.300 Green beer?

00:08:19.760 All of it.

00:08:20.140 What about the Leprechaun movies?

00:08:21.980 Because we've made, like, seven or eight of those.

00:08:23.120 I banned those already in my own private little kingdom.

00:08:25.680 Okay.

00:08:25.860 Yeah.

00:08:26.100 So, anyway.

00:08:27.440 So, we are possibly looking, and the reason why they're saying it's, you know, this could

00:08:31.800 be Black Monday. 0.86

00:08:32.620 I don't know if anybody remembered Black Monday.

00:08:34.400 Happened in 1987.

00:08:35.580 And, you know, the Dow dropped 508 points.

00:08:40.800 That was 22% in one day.

00:08:44.300 So, the Dow at, what, 4,200?

00:08:46.460 Right around 4,200?

00:08:48.300 That would be looking at almost a 10,000-point plunge today if it was Black Monday.

00:08:53.500 That would be significant.

00:08:54.840 Yeah.

00:08:55.140 That would be significant.

00:08:55.800 I don't think that's going to happen.

00:08:57.340 I don't think that's going to happen.

00:08:58.200 Well, you don't know.

00:08:59.680 You don't know.

00:09:00.180 Well, it wouldn't happen because we'd close the market.

00:09:02.840 Because after Black Monday, we were like, we should close the market.

00:09:06.900 When that happens again, maybe we should just go, everybody needs to take a breath.

00:09:11.000 Have a seat.

00:09:12.400 Okay.

00:09:12.580 But it wasn't the end of the world.

00:09:14.200 Right?

00:09:14.840 I mean, 22% drop.

00:09:17.280 It was not the end of the world.

00:09:20.600 It didn't happen.

00:09:21.520 We, you know, by the 87, we were seeing cracks because of greed, basically.

00:09:31.180 Deregulation, tax cuts, a sense of invincibility.

00:09:34.660 We always go through these cycles, and everybody started to get greedy, and buying stocks, and

00:09:41.280 then it just went too high, and we had problems with computers and everything else, and boom.

00:09:46.480 It was out.

00:09:48.100 Okay.

00:09:48.800 So, what happened?

00:09:50.220 Last week, $5 trillion wipeout.

00:09:53.200 Not a glitch.

00:09:54.020 It was an actual reaction to Trump and his tariffs.

00:09:58.000 10% base tariff on all oil imports.

00:10:02.820 You know, bigger hits on India and China.

00:10:05.140 Those are real numbers.

00:10:06.760 Okay.

00:10:08.640 Jim Cramer said there was a policy nuke.

00:10:11.040 I don't know.

00:10:12.100 I don't know.

00:10:13.380 I just have a different look on this.

00:10:15.280 I don't know why.

00:10:16.000 I just have a different feel on this one.

00:10:17.760 I feel like, you know what?

00:10:19.020 You know what we're not talking about?

00:10:20.660 What we're not talking about is this is the Great Reset.

00:10:24.880 Except it's not the Great Reset.

00:10:26.660 It's the Great Reset of the Great Reset.

00:10:30.360 The Great Reset.

00:10:31.420 We had two ways to go, and Donald Trump never said it this way, but I thought I had articulated

00:10:37.600 this, and maybe I hadn't clearly enough, and I've been trying to say it for the last few

00:10:41.660 days.

00:10:41.860 So, let me just be very, very clear.

00:10:43.720 You had two choices.

00:10:45.920 The world as we know it doesn't work.

00:10:49.900 So, the first choice was what Klaus Schwab was doing, where we could all eat, you know,

00:10:54.180 bugs, and they were going to reset everything.

00:10:57.840 Get away from the free market entirely.

00:11:00.440 Go all globalism and push everything up to a global government.

00:11:04.800 That's not bad.

00:11:05.720 Yeah.

00:11:05.920 That would reset our economies.

00:11:07.660 It would reset our dollar.

00:11:09.200 We would go to a global currency.

00:11:11.160 All of the stuff we've talked about for the last five years, that's real.

00:11:14.560 That was happening.

00:11:16.200 Donald Trump came along and said, don't like that.

00:11:19.080 Don't want to do that.

00:11:20.680 That's good.

00:11:21.420 That's really good.

00:11:22.180 That's a good observation.

00:11:23.040 We shouldn't do that.

00:11:23.640 The problem is, you can't just not do that, because the problems are real.

00:11:31.500 The solutions, the way the world works now, no longer works.

00:11:35.900 It doesn't work the way it did in 1946.

00:11:40.140 It's not 1946 again.

00:11:42.760 So we need to update the system and repair all of the damage that has been done for the Great Reset.

00:11:51.740 Because remember, what was their plan?

00:11:54.940 To manage the decline of the West, just to keep it going enough so nobody really,

00:12:01.060 and then it'll come in one violent shock, and everybody will be like, oh my gosh, panic.

00:12:06.040 And that's when they will finally change everything and make the final switch.

00:12:09.960 That's the Great Reset.

00:12:10.900 So, Donald Trump, we elected him because we didn't want that, right?

00:12:16.020 If you thought you were going to get a replay of 2016, you're mistaken, because this time he gets it.

00:12:23.920 Remember we said, you know, the 2020 election was really good, it turns out,

00:12:28.980 because he had time to think and realize what he was fighting and where everybody is and make a plan?

00:12:34.280 This is part of his plan.

00:12:37.080 And he told us, now he didn't say about the Great Reset part, but he told us that we're going in a completely different direction.

00:12:46.800 He told Europe that.

00:12:48.580 He's told everybody that.

00:12:50.180 That's what NATO is about.

00:12:51.920 That's what all of this stuff is about.

00:12:53.600 He's resetting the system.

00:12:56.580 So, it will be an America first, and anybody else that wants to join us, you know, England first, whatever, 0.85

00:13:03.460 we'll all get along, we'll trade, but we're not going to do it the way the globalists have done it.

00:13:09.260 So, what we're going through now is the shock to the system of the beginning of the shaking off the calcification of this system

00:13:25.120 and restarting the engine and saying, we're going in a different direction.

00:13:29.560 Throw this thing in reverse.

00:13:30.640 And so, all of the gears and everything that has been turning one direction now for almost 100 years,

00:13:39.320 and especially in the last 25 to 30 years with the Great Reset and the WEF and everything else,

00:13:45.060 all those mechanisms, all those gears that have been going one way only,

00:13:50.200 all of a sudden are grinding to a halt and reversing.

00:13:54.920 That's what you're going to feel.

00:13:56.420 Now, I didn't expect this to happen now.

00:14:02.640 I mean, I was expecting that I would see progress on the border.

00:14:06.440 I was hoping that I would see tax cuts by now.

00:14:10.380 I was hoping I would see more regulation cuts by now because those two things are vital

00:14:15.780 before you put in the tariffs or at least right after you put in the tariffs.

00:14:21.240 It helps ease this pain.

00:14:23.680 That's Congress having done their job.

00:14:25.460 I don't know why he's not pounding his fist on their heads right now to get that job done.

00:14:31.280 But that's what's happening.

00:14:33.700 And this is going to – this is why Donald Trump said over the weekend – what was it?

00:14:36.760 I want to give his quote.

00:14:37.980 He told the average Americans, hang tough.

00:14:40.880 Just hang tough with me.

00:14:43.140 I know.

00:14:44.340 It is bad right now.

00:14:46.680 But this is an economic revolution and we will win.

00:14:53.920 Hang tough.

00:14:54.740 It won't be easy.

00:14:56.020 But the end result will be historic.

00:14:59.600 That's what I'm hoping for.

00:15:01.220 I'm not hoping that his tariffs work.

00:15:03.160 I'm hoping for an economic revolution.

00:15:07.860 I'm looking for the end result to be historic.

00:15:11.640 And it's not just about money.

00:15:13.260 It's about changing the entire system away from that system, which was pounding America

00:15:19.140 into the ground and managing our decline.

00:15:22.060 Does that make sense to you?

00:15:25.080 It does make sense to me.

00:15:27.040 You don't buy into it?

00:15:29.800 No, I do not.

00:15:31.260 Really?

00:15:31.820 I would – I think Donald Trump had a – what I expected from Donald Trump.

00:15:38.380 And again, we may very well see.

00:15:40.280 Lots of things will change.

00:15:41.280 There's no reason to believe this won't bounce back and we'll – you know, this is – I'm

00:15:44.540 not at all – we still have to see how all this works out.

00:15:47.940 We're nine minutes and 38 seconds away from the opening bell.

00:15:50.940 Go ahead.

00:15:51.160 But I think it's reasonable to look at when Donald Trump re-election and say to yourself,

00:15:57.260 there are some things that went well and some things that didn't go well.

00:15:59.360 And what I would – what I did expect was him to continue with the policies that went

00:16:08.000 well, the areas – like, for example, the economy.

00:16:10.440 I think the economy went really well during his first term.

00:16:13.440 And I thought we would get more of those policies and that similar approach.

00:16:17.740 And then in, you know, something like the border where –

00:16:20.200 He's doing something different this time.

00:16:21.600 He's not just – he's not just –

00:16:23.740 Well, that's what I'm saying.

00:16:24.600 I know, but he never – he never – he never gave any indication he was just going

00:16:30.060 to rearrange the chairs at the same table again.

00:16:32.740 That's what he did last time.

00:16:33.820 I mean, he said we had the greatest economy we've had in a long time.

00:16:36.880 And you could quibble with that.

00:16:37.880 Back then?

00:16:38.200 Back in 2019.

00:16:39.220 We did.

00:16:39.640 However, to get there, you can change the levers and make things work a little better,

00:16:44.980 but you're still managing a decline.

00:16:47.220 Until you stop the spending, until you change the fundamentals of how this economy works,

00:16:53.120 you're just rearranging –

00:16:53.540 I certainly miss that.

00:16:54.540 I don't remember ever hearing a speech of Donald Trump saying he was managing the decline

00:16:58.140 in 2019.

00:16:59.060 No, no.

00:16:59.520 That's not what – no, no, no.

00:17:00.420 That's not what he said he was doing.

00:17:02.200 I don't think he knew that.

00:17:03.900 That's why I said in 2020 it was a blessing.

00:17:06.320 I don't think – he walked in, he didn't realize how deep this went.

00:17:10.740 Stu, we didn't realize – when did we find out about the Great Reset?

00:17:15.560 2020.

00:17:16.760 Mm-hmm.

00:17:17.260 That's when we found out about the Great Reset.

00:17:19.780 I mean, nobody knew that this is really – we didn't know how deep this was.

00:17:25.520 It's just hard to – I mean, look, again, he did hit these things.

00:17:29.680 I'm not trying to – but, like, the cure to the Great Reset is, you know,

00:17:34.560 Richard Trumka's policy platform for the last 30 years.

00:17:38.120 It's shocking to –

00:17:39.480 I think that's unfair.

00:17:41.060 I think that's unfair.

00:17:42.160 I mean, it's the same tariffs the guy's been calling for forever.

00:17:45.520 Yeah, but that's not all that he's calling for.

00:17:48.160 Certainly not.

00:17:49.320 Hang on just a second.

00:17:50.660 Seven minutes and 37 seconds away.

00:17:53.260 Panic, everyone.

00:17:54.400 By the time this program ends, another family farm in America will have closed its doors.

00:18:00.660 Maybe for good.

00:18:02.420 Wow.

00:18:03.360 By the time today, this program is over.

00:18:05.860 It's dangerous.

00:18:06.660 Every farm or ranch we lose is another piece of what makes this country special, and that goes away.

00:18:12.000 Things like hard work, independence, real food coming from actual farms that are owned by actual people, not just corporations.

00:18:20.280 And those things are slipping away from us.

00:18:22.680 It is time to spring into action and change things.

00:18:25.320 For generations, American farmers have been waking up before the sun, working long until after it sets,

00:18:30.820 so you can have food on your table, and I can have food.

00:18:34.280 So now maybe it's time for us to show up for them.

00:18:36.600 This is where Good Ranchers comes in.

00:18:38.860 They deliver high-quality American-raised meat straight to your door.

00:18:42.520 And when I say American-raised, I mean every bite you take. 0.64

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00:19:02.060 You're going to love the choices.

00:19:03.240 All great stuff from America.

00:19:05.040 GoodRanchers.com, American meat delivered.

00:19:08.640 Now back to the podcast.

00:19:10.940 This is the best of the Glenn Beck program, and we really want to thank you for listening.

00:19:15.880 Welcome to the Glenn Beck program.

00:19:18.340 We have an update.

00:19:20.580 The market bounced back after it was released in the news that Donald Trump may consider a 90-day pause.

00:19:30.320 And then we were watching it bounce back.

00:19:35.200 And then all of a sudden, it dropped back down again.

00:19:38.540 And it, I don't know, lost maybe 200 points.

00:19:43.820 Yeah.

00:19:45.100 Not sure what happened until we checked the news.

00:19:48.620 It seems like all these media organizations reported an interpretation from some social

00:19:56.360 media user of an interview in which the interview was like-

00:19:59.240 Wait, wait.

00:19:59.400 I just want to track that back down.

00:20:01.320 Okay.

00:20:02.560 Of an interview with Trump?

00:20:04.100 No.

00:20:04.660 No.

00:20:05.080 No.

00:20:05.460 Okay.

00:20:05.720 That's a good question.

00:20:06.560 The interview was with a Trump official.

00:20:08.340 The Trump official.

00:20:09.300 Unnamed Trump official?

00:20:10.400 Or Trump official official?

00:20:12.680 Yeah, who is this?

00:20:14.300 So we have Trump, and then we have the Trump official, and then it's somebody on social

00:20:21.220 media doing an analysis of what that Trump official said.

00:20:25.260 Yeah.

00:20:26.020 Right.

00:20:26.920 Right.

00:20:27.320 And then the media picks up on that.

00:20:30.040 So they're quoting-

00:20:31.680 National Economic Council Director Kevin Hassett.

00:20:34.300 Yeah, okay.

00:20:35.020 And basically all he said was like, look, I think the-

00:20:38.220 He was asked by Brian Kilmeade, would Trump consider a 90-day pause?

00:20:43.960 And has it said, I think the president's going to decide what the president is going

00:20:48.000 to decide?

00:20:48.760 Well, that means, yes, he's going to consider a 90-day pause.

00:20:51.720 It's incredible.

00:20:52.840 That's how, that's where that story-

00:20:54.740 We just gave it to you like four minutes ago.

00:20:56.620 We go off the air and go into the commercial break, and then it's all reversed, and the

00:21:01.780 stock market goes down.

00:21:02.780 I think we should probably slow down a little bit.

00:21:05.720 Yeah, and again-

00:21:06.360 This is no way to run.

00:21:07.200 The only reason we even brought it up is to discuss why the market moved, and it was

00:21:12.500 why the market moved.

00:21:13.920 So it's an appropriate explanation, I think.

00:21:18.240 But now the White House-

00:21:18.980 It's official, it's breaking, White House now just says 90-day pause is fake news.

00:21:22.840 Is fake news.

00:21:23.520 So it's not, there's no pause, and so now the market's down again.

00:21:26.720 Down again.

00:21:27.960 That is crazy.

00:21:29.180 I will say this, Glenn, and I don't know what you think about this as far as politics

00:21:32.960 go.

00:21:33.260 Again, taking out of where we end up on all of this.

00:21:36.160 We've had, we'd have really bad economic times before, right?

00:21:40.160 COVID, housing crisis in 08, you know, the bursting of the bubble of the internet back

00:21:46.940 in 2000.

00:21:48.280 And you go back to 87, right?

00:21:49.900 That market crash, all those things.

00:21:51.640 All of those, though, came from what seemed like an outside event, right?

00:21:57.640 Like, to the American people.

00:21:59.320 Yes.

00:21:59.680 Seemed like, like you had talked about the housing policies and what led to the housing

00:22:03.260 crisis for years before that.

00:22:05.700 And warned about it for years.

00:22:07.260 So there were policy, policies that were directly associated with that.

00:22:11.840 But that's not how the American people took that.

00:22:14.160 It felt like it was like, oh gosh, the housing market just crashed, right?

00:22:17.140 COVID just happened.

00:22:19.080 You know, this one, I think to the American people, right or wrong, is going to feel like

00:22:24.420 tariffs caused this.

00:22:26.720 Okay.

00:22:27.100 And I'm wondering, I'm worried about how they interpret that.

00:22:30.180 So let me, let me, let me help you out on that.

00:22:32.180 That's because people did not interpret the stock market and what's going on in our economy

00:22:37.800 is bogus.

00:22:38.560 Yes, you're right.

00:22:39.360 Okay.

00:22:39.540 I think you're right.

00:22:40.040 It's all this bogus money that the Fed keeps printing and putting into the system with

00:22:45.340 zero percent interest rates.

00:22:47.020 It's all funny money.

00:22:48.640 The, the stock market is no longer tied to anything real.

00:22:53.780 And everybody, everybody just bypassed that and went, wow, things are really good.

00:22:58.640 Things are really good.

00:22:59.440 No, no, no.

00:23:01.020 It was all bogus.

00:23:02.460 All of that is bogus.

00:23:04.320 Okay.

00:23:04.560 I think they sensed the weakness though, during Biden, right?

00:23:06.740 Like the market went up at times with Biden.

00:23:08.840 Yes.

00:23:09.060 But they sensed the weakness.

00:23:10.480 They sensed it in other parts of the economy.

00:23:12.120 Correct.

00:23:12.560 I think the optimism for Trump's policies launched into another stratosphere.

00:23:18.740 But that is our McDonald's attitude.

00:23:23.360 That is a, uh, yeah, I'd like some tariffs and a diet Coke.

00:23:29.840 I mean, no, it's not a drive-through.

00:23:32.720 You're not going to get it by the time you get up to the window.

00:23:35.820 But I think that that is the, that's the point I'm bringing up.

00:23:38.840 Which is, I think that's how a lot of people consume things.

00:23:41.940 Correct.

00:23:42.300 And I don't think that's going to change.

00:23:43.500 Look at what just happened.

00:23:44.540 Stock market.

00:23:45.660 The stock market.

00:23:47.340 People who are supposedly, you know, educated, they turn that thing on a dime.

00:23:53.500 But that, that's people who are really engaged, right?

00:23:56.240 And they're overreacting to, to news that they're seeing.

00:23:59.580 The average person is not even following this on a day-to-day basis.

00:24:02.740 All they're seeing is the, they're seeing that general downturn.

00:24:06.600 And if that continues with them, I, I wonder if this is going to be seen.

00:24:11.360 If, if this is, turns into a recession, which it's not yet.

00:24:14.560 If it turns into a long-term negative consequences, it is a, it could be seen as essentially Trump's fault.

00:24:20.740 Which means that the entire movement has, has problems.

00:24:24.200 As opposed to like COVID, what people saw was, okay, there's, it's China released this virus or it started in China.

00:24:30.460 It took over everything.

00:24:31.200 No, they blamed it on Trump because the media did.

00:24:33.320 I don't think the, I don't think he took, I mean, I think he won in 2024 because of what people remembered from his economy in 2019.

00:24:40.760 Yes.

00:24:41.140 Right?

00:24:41.480 They looked at 2020 as some outside thing he couldn't do anything about.

00:24:44.720 Why did he lose then?

00:24:45.740 Well, the economy was doing really, really well.

00:24:49.880 Why did he lose?

00:24:50.880 They blamed him on, on some stuff.

00:24:53.600 Yeah.

00:24:53.780 Yeah.

00:24:53.900 For COVID shutting us down, blah, blah, blah.

00:24:56.380 You know, the stuff that he did that made sense at the very, you know, the very beginning.

00:25:01.120 Yeah.

00:25:01.440 I, I, I, I remember that being more broad an argument than it wasn't.

00:25:06.320 No one thought it was Trump's fault that the economy crashed because of COVID.

00:25:10.000 You can blame him and say, Hey, I don't think he should have locked down.

00:25:13.640 I don't think, you know, and again, he didn't.

00:25:15.740 He didn't really do that.

00:25:16.240 The Democrats ran on that.

00:25:17.440 Look at what he's done to the economy.

00:25:19.080 Right.

00:25:19.620 Right.

00:25:20.020 And they won and they won.

00:25:21.340 They did win.

00:25:22.120 Yeah.

00:25:22.300 They did win.

00:25:22.680 So I think it's just, I mean, I think that's just the, the ill-informed again.

00:25:27.540 And that's, I mean, let me, let me give you the survey.

00:25:29.900 You ready for the survey?

00:25:30.720 Yeah.

00:25:30.980 Give it to me.

00:25:31.880 Hit me with it. 0.99

00:25:32.880 Hit me with it.

00:25:34.660 Out of, out of 50 men, if you ask them in a hundred meter sprint, can you beat a horse?

00:25:46.420 How many say yes?

00:25:48.520 How many say yes, they could beat a horse?

00:25:50.940 Beat a horse.

00:25:51.660 Is it a specific horse?

00:25:53.380 Could it be a horse that's dead?

00:25:54.820 Nope.

00:25:55.300 Nope.

00:25:55.700 Just a horse.

00:25:56.540 Just a regular horse.

00:25:57.600 So we assume a normal horse running on a normal speed.

00:25:59.960 Not necessarily a racehorse.

00:26:01.460 No.

00:26:01.740 Just a normal horse.

00:26:02.820 Just a horse.

00:26:03.400 I can outrun a horse.

00:26:06.340 The correct answer to this would be zero.

00:26:08.800 Zero.

00:26:09.240 Right.

00:26:09.940 Zero should be there.

00:26:11.180 It should be.

00:26:11.560 Because, you know, a racehorse can run 40 miles an hour.

00:26:15.860 Don't know if you know this.

00:26:17.440 You can't.

00:26:18.760 Okay.

00:26:19.620 Usain Bolt, he's the fastest in a sprint.

00:26:22.800 Yeah.

00:26:23.560 27 miles an hour.

00:26:24.800 Right.

00:26:25.160 Okay.

00:26:25.800 Horse, a little faster.

00:26:28.260 Okay.

00:26:29.000 So only 2% out of 50.

00:26:32.820 Okay.

00:26:32.980 So not.

00:26:33.420 That's actually not that bad.

00:26:34.800 No.

00:26:35.000 I mean, 2% will say anything.

00:26:36.180 That's the one they say is number 15 on the big charts of animals I could beat.

00:26:45.120 Okay.

00:26:45.400 Okay.

00:26:45.880 Number 15.

00:26:46.920 Then you get to a zebra.

00:26:48.140 Okay.

00:26:48.540 I'm going to just pass that off on maybe you don't think zebras actually exist.

00:26:52.480 You know?

00:26:53.000 We have none here.

00:26:54.100 It is strange.

00:26:55.640 Deer.

00:26:56.120 I could outrun a deer.

00:26:58.440 A fox.

00:27:00.260 An ostrich.

00:27:02.720 Okay.

00:27:02.900 Hit number 10.

00:27:04.660 I can outrun a cheetah.

00:27:08.280 A cheetah would be the one I would think would be the lowest number. 0.98

00:27:10.800 Would be the lowest number.

00:27:11.960 Because they're the fastest animal.

00:27:13.320 Yeah.

00:27:13.580 Right?

00:27:14.240 A kangaroo.

00:27:16.180 A mongoose.

00:27:17.400 I don't even know what a mongoose is, so I'm going to give that one a pass.

00:27:20.520 Ready for this one?

00:27:21.600 I can outrun a swarm of bees.

00:27:25.780 I mean, no.

00:27:26.380 You can't.

00:27:27.020 Not for a long time.

00:27:28.780 No.

00:27:29.160 No.

00:27:29.500 I don't think you can.

00:27:31.080 I don't think you can.

00:27:31.720 Have you ever seen?

00:27:33.080 They move fast.

00:27:33.460 Why wouldn't people just run if the bees, when you're being swarmed, just run?

00:27:38.420 They can't keep up with you.

00:27:39.720 You can't outrun bees.

00:27:41.340 No.

00:27:42.160 I can outrun a house cat.

00:27:44.560 No.

00:27:44.960 I mean, people have seen cats before.

00:27:46.440 They're fast.

00:27:47.360 I can outrun a goat.

00:27:49.500 I can outrun a rabbit.

00:27:51.320 A goat?

00:27:52.180 How fast are goats?

00:27:53.920 I don't have that stat.

00:27:55.360 I don't have that stat.

00:27:56.260 Because I don't.

00:27:57.300 All these other ones seem completely absurd.

00:28:00.160 When I see a, I'm thinking of a goat, they're kind of like,

00:28:02.060 climbing the side of a mountain.

00:28:04.560 You know, I don't know.

00:28:05.100 They don't look that fast.

00:28:06.280 I'd probably take them.

00:28:07.260 So would you say, yes, I could outrun a goat?

00:28:08.700 We're getting close to my area here.

00:28:10.360 Really?

00:28:10.800 Really?

00:28:11.200 Okay.

00:28:11.700 I don't know.

00:28:12.500 A goat?

00:28:13.260 A rabbit?

00:28:14.480 No.

00:28:14.800 Rabbits are incredibly fast.

00:28:16.060 Okay.

00:28:16.740 A hippopotamus?

00:28:19.260 I mean, a hippo, I, again.

00:28:21.220 Oh, my gosh.

00:28:22.160 I've never raced a hippo myself.

00:28:26.140 But I, you know, like a hippo doesn't seem like a fast animal.

00:28:29.340 They're moving pretty slow.

00:28:30.280 Is it the hippopotamus or the rhinoceros?

00:28:32.920 One of those is the most deadly animal alive.

00:28:35.820 Really?

00:28:36.220 Oh, they're fast and they'll stomp you to death. 0.93

00:28:38.900 I thought it was mosquitoes.

00:28:40.000 No.

00:28:40.860 What?

00:28:41.200 Right?

00:28:41.480 Mosquitoes, the most deadly animal alive.

00:28:42.740 Of course not.

00:28:43.040 I can outrun a mosquito.

00:28:45.820 Number two.

00:28:47.480 Why don't we just tell that to the African nations? 0.98

00:28:49.840 Just be like, guys, tell your people to outrun the mosquitoes.

00:28:52.100 Why don't you run?

00:28:54.200 Number two.

00:28:55.040 I can outrun an elephant.

00:28:58.120 Yeah, see, like an elephant doesn't look like it moves quickly, but the strides are large.

00:29:01.900 You have to factor that in.

00:29:03.380 I don't have to factor that in.

00:29:04.980 I just know I can't outrun an elephant.

00:29:07.520 They're fast animals.

00:29:09.340 Yeah, but the, I mean, the average.

00:29:10.420 They're an animal.

00:29:11.780 They're a giant animal.

00:29:12.880 So are we.

00:29:14.440 We're all animals.

00:29:15.840 Yeah.

00:29:15.940 Yeah, not fast.

00:29:18.120 I, I, look, I can, I'm not saying I would, I would say that I could outrun an elephant,

00:29:23.000 but I can understand why someone might say that.

00:29:24.680 Why do you think we invented the gun?

00:29:26.340 Why do you think men invented the gun?

00:29:28.800 We couldn't outrun any of these animals.

00:29:30.960 That's a good point.

00:29:32.020 Okay.

00:29:32.300 That's the only reason why we're at the top of the food chain is because we're like,

00:29:35.560 oh, really?

00:29:37.440 Take that elephant. 0.99

00:29:39.840 I mean, that's, I can outrun an elephant.

00:29:42.480 Yes.

00:29:42.740 If I have a rifle, I will do that.

00:29:45.540 Because then it'll be dead and you can walk away from it.

00:29:48.160 Okay.

00:29:49.280 So we don't, we have a pretty healthy, we have a pretty healthy view of ourself.

00:29:55.420 10% say that they have actually, sorry, 28% say they have actually been out in the wilds,

00:30:04.000 someplace, and clocked an animal and thought to themselves, I can outrun that.

00:30:10.740 A 10th of them have actually tried to do that.

00:30:14.280 I don't know, got out of their car.

00:30:15.760 I was like, come on, horse, bring it on.

00:30:17.160 12% and 11%.

00:30:19.460 Now, out of those showdowns, mainly with dogs, 61% have tried to, you know, race their dog.

00:30:27.340 26% have tried to race their cat.

00:30:29.460 I don't, I mean, you're like.

00:30:30.600 How would you even do such a thing?

00:30:32.320 19% have tried to race a goat.

00:30:34.920 Okay.

00:30:35.200 But 60%, only 60% say, yeah, I couldn't, I couldn't, I couldn't run.

00:30:41.400 26% considered themselves winners.

00:30:43.880 And here's my favorite.

00:30:45.320 14% said it was a draw.

00:30:47.460 It was a draw.

00:30:48.640 I mean, I think we both, I talked to the goat afterwards and I'm like, you agree, right?

00:30:53.480 I mean, we finished, I mean, basically we're at the same place, right?

00:30:57.260 And you have four legs.

00:30:58.620 So, you know, you might've run double the distance, but you have double the legs.

00:31:02.600 So, we're a draw, right?

00:31:05.420 Oh my gosh.

00:31:07.720 I think we're, I think we're in trouble.

00:31:11.380 18% say they would back themselves to beat somebody in an arm wrestling match.

00:31:18.580 Only 11% of women. 0.91

00:31:20.720 Why?

00:31:21.180 Wait, why would only 11% of women? 1.00

00:31:23.400 Women are no different than men.

00:31:25.080 Wait, why?

00:31:25.720 Hold on just a second.

00:31:27.320 Oh, it's ego, probably.

00:31:28.820 It's mansplaining that 26% of men say,

00:31:31.720 I can beat anybody in a wrestling match.

00:31:33.300 And only 11% of women.

00:31:35.140 It's probably because of what men have said to women,

00:31:37.960 that you're not strong enough to beat a big, strong guy, right?

00:31:42.140 Because we all know that could happen.

00:31:44.440 72% of all respondents admitted men are more likely to believe that they could beat an animal

00:31:49.820 than women. 0.99

00:31:53.420 My favorite is, sure, I can outrun a horse.

00:31:58.620 I can outrun a cheetah.

00:32:01.700 But some people, one in 50, believe they can out swim a dolphin.

00:32:09.580 Wow.

00:32:10.560 Uh-huh.

00:32:11.840 Don't know if you know this.

00:32:14.080 They're in the water.

00:32:15.180 That's their domain, you know?

00:32:19.320 Now, I could outrun a dolphin.

00:32:21.660 You put one on the beach, I'll beat him every single time.

00:32:25.900 I'll swim him?

00:32:26.660 I don't know.

00:32:27.400 I don't think.

00:32:29.920 You should probably, you get a nap in.

00:32:32.300 Get a nap in.

00:32:32.880 Let's readdress this maybe tomorrow.

00:32:34.880 You're streaming the best of the Glenn Beck program,

00:32:37.260 and you can find full episodes wherever you download podcasts.

00:32:40.720 Carol Roth.

00:32:41.560 How are you, Carol?

00:32:42.200 You know, Glenn, I told you several times that this year was probably going to be

00:32:48.060 a historic economic year, and we probably see things that we haven't seen before

00:32:52.980 or didn't imagine, and unfortunately, I'm living in the middle of all of that right now.

00:32:59.280 It's a little surreal today.

00:33:01.520 I mean, I think maybe we should stop panicking just a little bit.

00:33:06.420 I mean, it started with, it's going to be Black Monday,

00:33:09.300 and then we had this weird thing about an hour ago where it's released.

00:33:17.680 Donald Trump is reconsidering the tariffs, putting a 90-day pause on it.

00:33:21.460 Stock market zooms up, and within a couple of minutes,

00:33:24.480 the announcement is made from the White House.

00:33:25.940 No, that's not true.

00:33:26.900 He never said that, and it falls back down.

00:33:30.040 I don't know.

00:33:31.300 Things are happening a little fast.

00:33:32.640 We should probably slow down just a bit, maybe.

00:33:35.400 Yeah, the challenge for me, Glenn, you know, when I think about the stock market,

00:33:39.060 there are so many people who are worried directly about the stock market,

00:33:42.900 and I'm not as much directly worried about the day-to-day machinations.

00:33:47.180 You know, I'm old enough.

00:33:47.880 I've lived through stock market declines.

00:33:50.080 I know the stock market doesn't always go up.

00:33:51.900 I've lived through corrections.

00:33:53.080 I even, I think, mentioned multiple months ago that I felt that the stock market was overvalued.

00:33:57.760 I am not so much concerned about that because stocks go down,

00:34:01.160 and like we saw, when good news happens, stocks are going to go back up again.

00:34:04.400 That's not my concern at all.

00:34:06.680 My concern are what I consider the butterfly effects.

00:34:10.320 The butterfly effects, you know, is when a butterfly flaps, it swings,

00:34:13.580 and that makes, you know, kind of an air current.

00:34:16.640 What happens downstream from that?

00:34:18.920 So there are two things that I'm very much worried about in terms of that.

00:34:23.180 One is that if this happens over a long period of time,

00:34:27.800 the stock market is actually a pretty major driver of tax receipts.

00:34:32.780 And we've talked about this choreography and this math before,

00:34:35.980 that we have these crazy deficits.

00:34:37.940 The Biden administration left us a horrible fiscal position.

00:34:41.140 And the butterfly effect is that if we do not get enough receipts because of capital gains,

00:34:47.700 because of consumer spending, you know, whatever it is,

00:34:50.560 that we're not going to collect enough revenue into the government,

00:34:54.660 and that will actually end up exploding the deficit.

00:34:58.860 So that is one of my big concerns.

00:35:01.800 The second is the downstream effects on Main Street.

00:35:06.180 Main Street, as we know, has been beaten up for five years.

00:35:10.620 We had the COVID policy.

00:35:12.360 We had the supply chain disruption.

00:35:14.160 We had the labor market disruption.

00:35:15.940 We had historic inflation.

00:35:17.940 They do not have the wherewithal to weather the machinations and the changes.

00:35:23.680 You know, big companies, they have big balance sheets.

00:35:25.800 They'll find a way to get through it.

00:35:27.720 But the small companies that have been hanging on by a thread, you know, that is an issue.

00:35:33.080 And so when, A, if they have the direct tariffs, and I have many clients and companies that have

00:35:38.280 come to me that have direct tariffs, people who take it, who import from overseas because they

00:35:44.200 don't have another choice currently, who've seen containers that used to cost four figures,

00:35:49.240 now costing, I'm not exaggerating this, six figures.

00:35:52.620 And that's going to increase with the announcements from, quote unquote, Liberation Day.

00:35:56.600 Or if you're not directly importing and consumers are pulling back because of the reverse

00:36:01.600 wealth effect, their 401ks are down, they're worried about the economy, that's also going

00:36:06.700 to impact small business.

00:36:08.300 So I think when we talk about the issues of Wall Street, we really need to bring it home

00:36:13.180 to Main Street because that is the backbone of the economy.

00:36:17.620 So President Trump just tweeted a minute ago, you know, did you see this?

00:36:26.180 No, please tell me.

00:36:27.460 Yeah, basically, come on, guys, let's pull ourselves together.

00:36:31.780 We're not these people.

00:36:32.680 Stop panicking.

00:36:34.220 Stop panicking.

00:36:34.940 Right.

00:36:35.500 But how do you tell a small business who is expecting to pay $6,000 to bring in a container

00:36:42.900 and now has to spend $150,000 to bring in a container and has beaten up for four years

00:36:48.520 not to panic?

00:36:50.180 Unless they're going to come out, if they're going to exempt small business from tariffs

00:36:53.480 and find a way to return it to them, you know, this is not a panic because, you know,

00:36:59.740 oh, there's a machination of stock market.

00:37:01.380 If this is, I'm going to have to fire people, I'm not going to be able to pay my bills, I

00:37:06.260 may not have a company in a few months if this continues to go on.

00:37:10.640 I feel like that's panic worthy.

00:37:12.800 And I will note, Glenn, that the people who talked about government freedom during COVID,

00:37:17.600 that the government should not be creating barriers for companies, are the same people

00:37:22.560 who are cheerleading small businesses having barriers and saying, well, if we don't like

00:37:27.900 the way you're doing business, you don't deserve to be in business.

00:37:30.880 And it's starting to sound like a lot of people who are, you know, fans of Trump.

00:37:35.480 And we listen, we all want Trump to succeed.

00:37:37.380 But there are some diehard fans who are starting to sound a lot like leftist Bernie bros right now.

00:37:43.620 So I am against, you know this, I've been against tariffs and always have been.

00:37:49.780 Uh, however, I feel as though we, this is not a surprise to any of us, none of us, we knew

00:37:56.680 he was going to do this.

00:37:57.660 We also know that, uh, he is, he's actually gunning for the entire global system.

00:38:05.020 You know what I mean?

00:38:06.100 He's, I think the way, the reason why it's called liberation day, why he called it liberation

00:38:10.440 day is to reflect back to 1945 liberation day.

00:38:13.900 When that war was over and we put that system into place that we've been using since 1945,

00:38:20.840 46, and it, it doesn't work anymore.

00:38:23.500 Okay.

00:38:24.100 And so he's reversing ESG.

00:38:27.080 He is going the opposite direction of the globalization, et cetera, et cetera.

00:38:31.860 And I think he is, he's, he is churning absolutely everything.

00:38:38.500 And I expected it to be ugly.

00:38:40.700 He even said, well, I didn't say it would be ugly.

00:38:42.600 He said it would be difficult to be difficult.

00:38:45.020 And I don't think he, I don't, I don't think people understood everything that he's taking

00:38:49.560 on.

00:38:50.520 And I feel as though I am nervous about the effects because I see it too.

00:38:57.280 My friends, my friends who have small businesses, they buy anything and it, it's not like they're

00:39:02.160 buying everything from China.

00:39:03.420 They may have one part, but it's an important part or the only part they can get from that

00:39:07.720 country.

00:39:08.780 Uh, and they have long-term contracts on it.

00:39:11.340 So they, they're going to have to buy that part, whether they like it or not.

00:39:14.100 And that's going to put them under.

00:39:15.080 So I understand that.

00:39:16.320 I really do.

00:39:17.420 Um, but I'm, I'm not sure this is a really long-term thing.

00:39:22.200 Do you, I think he's, I think he's playing chicken with the rest of the world.

00:39:27.320 So here's the thing is that you said that, that Trump said this, Trump says lots of things

00:39:32.340 and we've all known to take him seriously, but not literally.

00:39:35.800 So we all had an expectation that he would probably do something with tariffs.

00:39:40.460 I think that what we didn't expect is that he would do it first.

00:39:43.820 We thought that he would do deregulation, get, you know, some of the, the tax cuts made

00:39:49.260 permanent, do some of those things to juice growth and then turn the intention.

00:39:53.320 And so the fact that we didn't have that optimism streak extended before he attacked that, I

00:39:59.180 think that was a surprise.

00:40:00.780 I also think the scope, by the way, I think the scope was a mistake and they're just living

00:40:05.360 with it because they were supposed to be reciprocal tariffs.

00:40:08.920 A reciprocal tariff would have been, Hey, they're charging us 700% on rice.

00:40:13.140 We're going to start charging them 700% on rice, or there's charging us 20% on this.

00:40:17.460 That would be one way to do reciprocal.

00:40:19.100 You could also do a country ride wide.

00:40:20.900 Hey, they're charging us 6%.

00:40:22.180 We'll charge them 6%.

00:40:23.220 They didn't do that at all.

00:40:24.820 They came up with some insane formula that was based on a trade deficit divided by imports.

00:40:31.440 That means absolutely nothing.

00:40:33.620 And I think that, by the way, a lot of people are saying they think that that was a mistake

00:40:36.660 and nobody checked the math on there and now they have to live with it.

00:40:40.500 And I think that's the concern that had this been 10% across the board for everyone, had

00:40:46.100 this been truly reciprocal, you would have a very different tenor that all of a sudden, you

00:40:51.940 know, we're putting 30% and 40% and 50% tariffs on countries and really escalating things.

00:40:57.960 So I think that's an issue.

00:40:59.580 And I also think the communication here needs a complete overhaul because there are a lot

00:41:06.200 of different things that are being said that are in conflict with each other.

00:41:09.640 And I'm with you.

00:41:10.720 I really hope that this is an art of the deal, that this is, you know, a blunt hammer approach,

00:41:17.180 which is not my approach.

00:41:18.060 I would have done a cocktail party or something, but a blunt hammer approach.

00:41:21.560 He is a sledgehammer.

00:41:23.140 There's nothing subtle about Donald Trump. 0.96

00:41:24.880 He's a sledgehammer.

00:41:26.020 There's nothing subtle about that.

00:41:27.140 And hopefully that's the way.

00:41:28.360 But there are people who are making actual, like, ridiculous arguments that are in conflict

00:41:34.280 with each other.

00:41:35.120 You have some of his spokespeople out on TV saying things like, oh, we're going to raise

00:41:40.900 a bunch of money and eliminate taxes, at the same time saying they're going to try to take

00:41:46.860 down trade.

00:41:47.600 Well, those things are in conflict with each other.

00:41:49.560 We're going to raise a bunch of money, but we're also trying to bring back manufacturing.

00:41:53.820 Well, those things are in conflict with each other.

00:41:55.880 There are people like me thinking that this is probably a way to try to refinance the debt,

00:42:00.940 but that's in conflict with some of these other things that he's doing.

00:42:03.840 So everything is in conflict.

00:42:05.700 And sure, if you leave all the options open, you can declare victory much more easily.

00:42:10.120 But now you have everybody infighting because you have people who are actually arguing really

00:42:15.440 bad policy is good policy.

00:42:17.480 Okay.

00:42:17.820 So I, again, and maybe I'm giving the president too much benefit of the doubt here, too much

00:42:24.680 room, but I don't think I am because what he does is negotiate.

00:42:29.560 And I know because I know people who have been on his team and they all say the same

00:42:35.020 thing.

00:42:35.420 You walk into a room with him when he takes the room, he senses what's going on and he

00:42:40.700 can move and pivot on a dime.

00:42:43.580 What you do know is at the end, it will be good for the Trump organization.

00:42:48.600 Okay.

00:42:48.900 And so I think that these all are Trump organization or America.

00:42:53.000 No, no, no, no, no.

00:42:53.720 I said negotiating with him, you know, in, in real estate deals.

00:42:57.860 Okay.

00:42:58.320 I think he is negotiating now for America.

00:43:01.020 So I'm taking what he, how he negotiates for his company.

00:43:05.900 And he's applying those same principles now for our country.

00:43:08.880 And I think he cares about our country.

00:43:10.780 Um, and so he's walking into a room and I think all those options are on the table.

00:43:16.800 You're only going to get one.

00:43:18.540 You're not going to get both.

00:43:19.700 You're not going to get all these jobs and all this tax revenue coming in.

00:43:23.860 You know what I mean?

00:43:24.460 It's going to be one or the other.

00:43:26.420 The, so the things that are, uh, incongruent here, I think, uh, is the negotiating room.

00:43:35.160 Well, let's see which one plays out, which, which one, which one are we going for?

00:43:39.160 Yeah, but it's a little hard for the American people to palette a non strategy.

00:43:44.120 Well, we're going to get something right.

00:43:46.040 Like we'll get some benefit out of it.

00:43:47.840 I don't, I don't know which one, or if that's the, or if that's the plan that just communicated

00:43:51.980 to people.

00:43:52.560 And listen, if, if this ends in a week or a couple of weeks, and especially if they're

00:43:57.740 willing to pay back these small business owners for the huge amounts that they've had

00:44:01.960 to spend out of pocket, I'd say great.

00:44:04.440 That was fantastic.

00:44:05.840 But, you know, there are so many things that can get damaged in the meantime.

00:44:11.360 And the longer it goes on, the more risk it is inherent.

00:44:16.400 So I think there needs to be.

00:44:18.320 I do believe there there's a shelf life of this.

00:44:20.380 Yeah.

00:44:20.680 Okay.

00:44:21.200 I agree with you a hundred percent.

00:44:23.040 And I, I don't mean to be giving him too much, uh, leeway here.

00:44:27.320 I think I'm being actually fair.

00:44:29.420 I mean, I told the story last week of he's going in to sell the Plaza hotel.

00:44:34.300 Everybody is got Japanese people coming in. 0.99

00:44:36.700 Everybody that, uh, is on his team.

00:44:39.500 They're focused on the Plaza hotel five minutes in without saying anything to his team.

00:44:44.800 He pivots and like, forget the Plaza.

00:44:46.640 I want to talk to you about this.

00:44:47.780 And everybody on his team is freaking out.

00:44:49.820 Like we've got to sell the Plaza hotel.

00:44:51.280 What are you doing?

00:44:52.460 But he said, after the meeting, I knew I could tell they're not going to buy the Plaza.

00:44:57.220 So I pivoted here instead of a wasted meeting, I sold them this.

00:45:00.860 And I don't think that's wrong to give him the benefit of the doubt.

00:45:05.720 Cause that's the way he shoots from the hip that I hear.

00:45:09.300 I hear.

00:45:09.680 Let me just, let's just take a step back on central planning though for a second.

00:45:13.680 And, and yes, and we're, again, we're, we're all on his side.

00:45:17.100 We're all rooting for him.

00:45:18.120 We're just discussing if this is the best tactic.

00:45:20.560 The issue is the central planning, even him sort of being able to do this.

00:45:27.720 What happens, Glenn, if you know, this, even, even if it doesn't turn out badly, but let's

00:45:32.680 say whether it's four years, eight years, 12 years down the road, we get in a new administration

00:45:36.860 and they want to do things completely differently.

00:45:40.160 They say, well, that was the Trump way and we don't like it.

00:45:43.180 And now we're going to say X, Y, Z.

00:45:45.380 And now every business now needs to go and roll and change.

00:45:49.720 Businesses cannot operate like this.

00:45:51.760 Businesses have already decoupled from China.

00:45:54.060 Cause we were told China bad and now they're getting punished again.

00:45:57.440 So it's very challenging when we have a government that has that much power to put up these barriers.

00:46:03.640 I would rather do this with incentive.

00:46:05.680 I'm, I am absolutely willing.

00:46:08.180 Cause I did this last week.

00:46:09.480 I said this last week, you know, I have a problem with is Congress.

00:46:13.300 This is Congress's territory.

00:46:15.500 This is not the president's territory.

00:46:17.200 The minute Congress wants to reclaim their, their duties and their power, I am all for it.

00:46:24.440 I do not like the government giving more power or anybody giving more power to the administrator.

00:46:29.420 No, no, no, no, no, no, no.

00:46:32.580 But where the hell is Congress?

00:46:35.180 Where the hell is Congress?

00:46:36.760 They are, they are the ones that are making this giant hole.

00:46:40.940 Congress should have said right at the very beginning.

00:46:43.180 Okay.

00:46:43.660 Hang on just a second.

00:46:44.940 We're going to pass tax cuts.

00:46:46.460 We're going to, we're going to pass the regulation.

00:46:48.520 You don't have to do that, sir.

00:46:49.740 We're passing the reins act that gets rid of half of the regulation already, maybe more than half. 0.96

00:46:54.380 And that's our purview, but they're not doing it because nobody in Congress has the balls to do what Donald Trump does. 0.91

00:47:03.380 It doesn't mean I like it. 0.89

00:47:05.300 And it doesn't mean that I want somebody to, you know, continue this in the next administration.

00:47:11.060 We're setting up some bad precedent, but it requires Congress to take their power back.

00:47:17.680 So where is, um, where do you think Scott Besson is, Carol?

00:47:24.740 It's a really good question.

00:47:26.500 Um, he certainly has been on some of the shows and he has been sticking to the party line.

00:47:32.660 And I think that, you know, that's one of the challenges when you're in an administration that has, you know, a lot of power at the top is that, you know, you have to know your place.

00:47:42.800 And so, of course, he is not going to go against whatever the president's wishes are.

00:47:47.220 There have been some rumblings that there are divisions kind of behind the scenes that, you know, Besson and Hassett want a little bit more of a focused and, you know, lower tariff approach.

00:48:00.400 And that, uh, you know, Lutnick and Navarro are the ones that are really pushing on this.

00:48:05.860 So I think that there is some internal conflict and we're seeing that play out.

00:48:10.340 And unfortunately, I think at the end of the day, it's going to be Trump's call.

00:48:14.420 I don't think any of them are going to go against what the president is.

00:48:17.260 I have less now, less than a minute, but I have to ask you, this, I think, is the best cabinet I've ever seen in my lifetime.

00:48:23.060 And especially the people on the economic advisors, the people you just mentioned, all really, really accomplished and quite brilliant.

00:48:30.940 Well, I'll say that I think some of them are very accomplished and brilliant.

00:48:35.400 And I think that maybe we don't have the same, but I'm not going to be the one who's going to, you know, go get into that on air.

00:48:43.880 That can be a private conversation.

00:48:45.220 Okay. I mean, I don't care. If you want to get into it, we can get into it. I don't really care.

00:48:52.280 But, uh, uh, Carol, thank you very much. I appreciate it.

00:48:58.000 When I found out my friend got a great deal on a wool coat from Winners, I started wondering, is every fabulous item I see from Winners?

00:49:06.780 Like that woman over there with the designer jeans. Are those from Winners? 0.96

00:49:11.040 Ooh, are those beautiful gold earrings? Did she pay full price?

00:49:14.540 Or that leather tote? Or that cashmere sweater? Or those knee-high boots?

00:49:18.460 That dress? That jacket? Those shoes?

00:49:21.000 Is anyone paying full price for anything?

00:49:23.960 Stop wondering. Start winning.

00:49:26.160 Winners. Find fabulous for less.

The Glenn Beck Program - April 07, 2025

Best of the Program ｜ Guest： Carol Roth ｜ 4⧸7⧸25

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