The Glenn Beck Program - Best of The Program ｜ Guest： Harry Dent

00:00:00.000 hey stoop it's another andrew cuomo day yeah uh it is the dumbest governor

00:00:08.700 in the united states area which might include canada i don't really know america's dumbest

00:00:18.320 mobster uh andrew cuomo yes he's here and uh not only being called out by us now it seems like it's

00:00:24.100 spread a little bit a little bit yeah it's going viral you know when people in your own party

00:00:29.880 and then the ones in your own office it's a kind of a problem we also have one of the scariest we

00:00:37.860 should have done it on halloween one of the scariest guests we've had in a very long time

00:00:44.160 harry dent the economist who has really called the direction of this economy he's gotten some of the

00:00:50.580 timing wrong um but he has uh he has called the direction of this economy in fact he was on

00:00:57.220 in i think it was october of 2019 and he said by spring of 2020 something will happen and this

00:01:08.620 whole economy is going to turn and we're going to have unemployment and i thought that's that's

00:01:14.720 crazy and that's exactly what happened he now says we're 45 days away from the great depression

00:01:22.760 you don't want to miss that and what he says you should do about it this and so much more on today's

00:01:31.140 program

00:01:31.560 you're listening to the best of the blend back program

00:01:42.920 coca-cola has sent out notices now to law firms demanding that the company will require diversity

00:01:53.580 among all of the law firms who bill it for work in the united states and reduce payments if they

00:01:59.520 don't comply they later went on to say that uh the coca-cola company's chief of diversity equity

00:02:07.420 equity not equality equity and inclusion officer uh laurie george billingsley who sounds very diverse

00:02:16.900 uh explains how coca-cola is creating a culture of diversity and inclusion uh coca-cola's general

00:02:25.060 council is urging law firms to affect real systematic change by adhering to new requirements

00:02:31.600 that mandate that outside counsel allocate a portion of work to diverse attorneys attorneys

00:02:38.520 specifically black lawyers or risk losing money or even a future coca-cola legal business

00:02:46.300 coke said it will require quarterly reporting about the makeup of legal teams uh that do work for it

00:02:55.000 and self-identify as american indian alaskan native asian black woman uh black or woman uh hispanic latinx

00:03:04.260 i want a latino man woman child it i don't care what your pronouns are stop with the latinx i don't know

00:03:13.400 a single latino person that doesn't think latinx is insulting it is directly from the sopranos you're

00:03:23.220 hanging out in some strip club going yay bring that latinx over here it's enough with latinx

00:03:32.680 lgbtq native hawaiian pacific islander and persons with disabilities 30 percent of each billed associate

00:03:42.580 and partner time will be from one of these attorneys and at least half have to be from black attorneys

00:03:51.420 holy cow now here's why can you see if you can get tanya on the phone do you have her no uh see if you can

00:04:00.520 get tanya on the phone because no more coca-cola no more coca-cola and that is like gold at my house

00:04:07.680 but that includes a lot of stuff now i'm not leading a campaign against coca-cola i wouldn't mind

00:04:14.880 being responsible for that but i don't lead boycotts i personally it was incredibly subtle

00:04:21.620 there yeah i don't know if people picked up on it no i'm fine with it um but everybody has to make

00:04:26.600 their own personal choice this is the line for me this is the line for me i will not cross this line

00:04:33.560 and here's why think of the impact that coca-cola is going to have a company this large

00:04:42.020 and this is only the first they've already said over at the great reset they're all in

00:04:47.840 and so they're going to require this of all of their partners so when a company like coca-cola

00:04:55.980 says we're not going to do business with you unless you adhere to these things

00:05:01.820 how many companies are just going to fold most of them because they need coca-cola's business

00:05:09.140 so think of this think of the truckers think of the bottling plants think of the people who

00:05:18.060 you know supply them with water everything else everything they do a company the size of coca-cola

00:05:25.860 tanya's on the phone tanya hey i always think of these things and then i get home and i forget

00:05:32.640 because we're talking about so many other crazy things wipe coca-cola off the list i know we haven't

00:05:39.480 bought any for a while but we buy topo chico what is it topo chico yeah right we buy that water that's

00:05:45.820 a coke product yeah can you go through the coke products no more in our house no more coca-cola

00:05:52.080 products what happened i didn't hear about it oh did she get a voice in this at all

00:05:57.720 you just say edicts of no coca-cola no no we're on the same page on this kind of stuff they've just

00:06:02.840 they're just going totalitarian uh as a corporate yeah so go ahead what are the products hang on

00:06:10.660 hang on listen to this okay poor tanya she's not she said yeah i got it i got it i got it when you

00:06:16.460 forget later i won't have it anymore but i got it uh coca-cola sprite fanta dasani smart water minute

00:06:22.320 made uh innocent i know that sounds like some creepy website uh simply uh georgia costa fuse tea

00:06:30.740 honesty fair life powerade uh cl so far we're good except for the sodas schweps vitamin water golden

00:06:40.080 gold peak uh app app appetizer i don't know what that is uh topo chico aquarius uh fresca

00:06:48.960 uh uh barks barks oh man barks root beer that's really good root beer peace tea which is bringing

00:06:57.380 lemonade that's your your favorite this is this segment's just making me thirsty yeah well

00:07:03.340 hang on what they they have restaurants too don't they or is that pepsico i know pepsi has a bunch

00:07:07.880 of those i i don't know they're this is just the coca-cola company but i mean the beverages

00:07:12.340 yeah yeah there's like 200 companies that they directly own and there's 500 that they own all

00:07:21.100 or or part of so it's gonna be difficult you're not gonna be able to eat or drink anymore that's

00:07:27.040 for sure honey do me a favor write to selwyn and say isolate coca-cola company from our our stocks

00:07:35.740 but no no more coca-cola now are you aware does do these other companies that have you checked into

00:07:42.320 their backgrounds coca-cola company it's the coca-cola i'm saying like what's your alternative

00:07:46.520 to topo chico right a perrier you think perrier some conservative company i doubt it i don't i don't

00:07:52.600 so what what do you do in those situations just i'm going to eventually run out of things right

00:07:56.800 okay i'm going to eventually run out of things but i am going to look for those companies that

00:08:01.800 support what about hanks hanks isn't going to go down this beer is the best hanks root beer is the

00:08:06.560 best i'll buy hanks absolutely it's always a good idea right i mean it just i'm not going to do it

00:08:12.840 anymore you know what you should do thanks honey buy more cookies and less coca-cola you are more

00:08:18.680 you're shameless keksi cookies uh keksi.com well you know what they probably see keksi k-e-k-s-i yeah

00:08:26.040 it's cookie in finnish now my understanding pat oh my god you are the worst you are the worst

00:08:32.880 first first what was it scrump dilly ushious cookies and you were like i don't know how to

00:08:38.000 spell that scrumptious scrumptious cookies you know how many americans can't spell scrumptious

00:08:42.540 and now it's keksi because it's in finnish oh well yes there are so many catchphrases in american

00:08:49.260 that are finish for the love of pete make it easy to find these cookies keksi cookies.com

00:08:55.920 it is easy you just go there and you'll find them and you spell it k-e-k-s-i yeah now do you are you

00:09:02.720 requiring diversity uh training for all of your attorneys no i'm not oh my gosh no i'm not i'm in

00:09:07.600 are you going to start doing that no i'm not you're going to be part of the great reset no i'm not okay

00:09:11.400 no i'm completely against the great reset good good good i'm glad i'm glad you're allowed so you can

00:09:16.420 eat cookies and hanks root beer and that's all your food sustenance uh that sounds like a dream

00:09:21.280 world to me that sounds pretty good it sounds like i have absolutely no problem with that dream world

00:09:28.360 anybody join me on this yes uh because it's absolutely not and just think so we're clear

00:09:35.320 i knew stew wouldn't let me currently take a drink of diet coke right now

00:09:38.960 do you have a line uh you know i think if coca-cola sponsored isis directly i would think

00:09:48.660 you would consider yeah drinking less right uh diet coke yeah really but uh just if they even said

00:09:56.940 the red in our logo is the blood of christians killed by isis you'd still think about it well i mean

00:10:04.460 i would you know i would no longer buy caffeine free diet coke right okay in that circumstance

00:10:09.620 that line i've already drawn new coke you're out yeah i i just you know and i i know look i we've

00:10:15.220 talked about this a million times and i know you're really sincere here i i think it's a it's a tough

00:10:19.560 thing to do in this world right like it's really hard because you because as we point out there every

00:10:24.920 single thing that you do has people that disagree with you strongly and has come and have are backed

00:10:30.300 by companies that totally disagree with you i mean like if you if you find some amazing uh company

00:10:35.900 that you want to do business with probably all their suppliers are doing these types of things

00:10:40.720 so they're selling all their product to the product that you're buying but you can do things like if you

00:10:45.620 have a 401k if you have any kind of money that is invested in the stock market most likely you're a

00:10:51.180 shareholder of coca-cola probably true i mean coca-cola is a big company and in and and solid it's

00:10:58.500 probably in a portfolio of yours if you're buying a bunch of companies in a mutual fund

00:11:04.440 get coca-cola off your sell your stock sell your stock i mean that you could still i guess use their

00:11:13.940 product but i i refuse i'm not going to i can't continue to go down this road and there's lots of

00:11:22.080 things like i can't what am i going to do i can't i can't cut out all the entertainment in my life

00:11:27.940 and there is just no real entertainment that doesn't come from hollywood you know it's getting

00:11:35.880 better but we're 10 or 15 years away from a real replacement for these things so i haven't given up

00:11:43.840 you know on some of these things i've given up on certain shows i've given up on certain things

00:11:47.820 but i just can't i can't but this i can do yeah i mean look you could you could do what makes you feel

00:11:53.400 like you're you're you know what makes you feel good basically right i mean that's really what

00:11:57.520 this comes down to there's no way to actually avoid all the products of people and ideas that

00:12:02.320 you disagree with i mean you know you're you're addicted to your ipad like you think apple doesn't

00:12:07.360 have this policy of course they do right ice cream is a really good example of that all of the premium

00:12:11.980 ice creams except for the ones we've been talking about uh from brooker's brooker's ice cream

00:12:16.180 they're all raging progressives yes yeah you know the ben and cherries of the world and and

00:12:23.280 those brands in ohio i forget what her name is but they're all big time progressives i will tell

00:12:29.000 you it's hard it's hard brooker's fam uh founder's ice cream is just so good yeah and it's now only

00:12:36.800 available you know by shipping but that just became available like a few weeks ago didn't it yeah

00:12:42.520 um how do you get it brookers ice cream.com it is so good click on the nation ship nationwide they

00:12:49.020 won't let me invest i've asked them to invest i've oh really yeah i've asked pat let me invest in

00:12:53.920 your company nope no well with brookers let me invest nope just like you're avoiding coca-cola

00:12:59.680 he's avoiding you i mean he's like we're we've got our lines glenn that's the line we still not cross

00:13:05.760 all right uh don't forget about pat gray unleash it's available on the blaze and of course kexy

00:13:11.660 cookies what is it kexy k-e-k-s-i you can search for it do that

00:13:17.860 this is the best of the glenn beck program

00:13:23.220 this revolution brought to you by facebook

00:13:28.780 we're glad that you're here today i i want to talk to you about a song um that has taken on whole

00:13:37.100 new meaning uh to me i've been listening to um hello darkness my old friend and i've always liked

00:13:45.680 that song sound of silence but my son turned me on to the version by disturbed and you should hear

00:13:54.140 this the way he sings it is completely different um and it took on new meaning because of some things

00:14:03.300 that have been going on in my in my life with my family

00:14:07.220 but i've been doing a little bit of research just on

00:14:14.620 what does this song mean we've all sung it a million times what does it really mean

00:14:22.140 what paul simon wrote

00:14:28.200 is a warning about these times

00:14:32.320 what he wrote was what the hippies used to believe in

00:14:38.680 what all of these people said hey this is going to turn into a problem and people like me for years

00:14:44.920 dismissed them and said come on it's never going to be that way

00:14:47.760 and now it is what he was talking about was a brave new world

00:14:52.680 i want you to listen to the lyrics here and i can't play them without any kind of real restrictions

00:15:01.740 so i'm just going to read them to you

00:15:04.660 hello darkness my old friend

00:15:08.880 i've come to talk with you again

00:15:12.300 he's alone

00:15:16.120 he feels alone

00:15:18.420 important

00:15:21.080 he's talking to the empty darkness

00:15:24.860 he says because a vision softly creeping

00:15:30.040 left its seeds while i was sleeping

00:15:33.220 have you ever had a dream

00:15:35.300 that you just can't shake

00:15:37.160 where it's with you all day

00:15:39.360 and you're just like oh man

00:15:40.360 that's what he's talking about

00:15:42.560 i had a vision softly creeping

00:15:44.500 left its seed while i was sleeping

00:15:46.820 and the vision that was planted in my brain

00:15:50.500 still remains

00:15:52.820 within the sound

00:15:55.240 of silence

00:15:56.700 in the restless dreams

00:16:00.500 i walked alone

00:16:01.800 narrow streets of cobblestones

00:16:05.080 neath the halo of a street lamp

00:16:07.820 i turned my collar to the cold and damp

00:16:11.360 when my eyes were stabbed

00:16:14.800 by the flash of a neon light

00:16:17.340 that split the night

00:16:20.040 and touched

00:16:22.080 the sound of silence

00:16:24.400 what does that mean

00:16:27.460 he's walking alone

00:16:30.820 again

00:16:31.360 he has no one to talk to

00:16:33.380 he's completely alone

00:16:37.020 everything is abandoned

00:16:40.240 he's walking down the street at night

00:16:45.180 and a neon sign

00:16:46.600 stabs his eyes

00:16:48.940 and touches the sound of silence

00:16:51.820 what is the neon sign

00:16:53.720 is it just flashing bar

00:16:56.140 cocktails

00:16:58.140 what is it

00:16:59.140 you'll understand by the end

00:17:02.300 and in the naked light

00:17:07.260 i saw

00:17:07.960 this is the light

00:17:09.000 of the neon sign

00:17:09.960 and in the naked light

00:17:11.500 i saw

00:17:12.080 10,000 people

00:17:13.680 maybe more

00:17:14.400 he was alone

00:17:15.980 on the street

00:17:16.760 but the neon sign

00:17:18.300 it flashes

00:17:19.420 and he sees

00:17:20.280 10,000 people

00:17:21.460 maybe more

00:17:22.400 listen to this

00:17:24.520 people talking

00:17:25.820 without speaking

00:17:27.280 people hearing

00:17:29.080 without listening

00:17:30.420 people writing songs

00:17:33.120 that voices

00:17:34.000 never share

00:17:35.400 and no one dared

00:17:38.160 disturb

00:17:39.220 the sound

00:17:40.580 of silence

00:17:41.560 in the naked light

00:17:50.520 of that sign

00:17:51.420 people were talking

00:17:54.580 no one was listening

00:17:56.800 people were talking

00:17:58.180 but they weren't really speaking

00:17:59.680 they weren't

00:18:00.280 it was nonsense

00:18:02.100 they were talking

00:18:03.920 about things

00:18:04.620 that didn't matter

00:18:05.880 and nobody was listening

00:18:09.920 to each other

00:18:10.680 and there were a few

00:18:14.520 that were writing songs

00:18:16.000 but no one would ever

00:18:17.200 sing those

00:18:18.060 they were never

00:18:18.920 going to be sung

00:18:20.100 because no one

00:18:21.980 dared disturb

00:18:23.340 the sound

00:18:24.320 of silence

00:18:25.060 what is the sound

00:18:26.520 of silence

00:18:27.240 and what does it have to do

00:18:28.400 with the neon sign

00:18:29.440 fools

00:18:32.880 said I

00:18:34.040 you do not know

00:18:37.840 silence

00:18:39.580 like a cancer

00:18:41.200 grows

00:18:41.900 hear my words

00:18:44.960 that I might

00:18:45.680 teach you

00:18:46.260 take my arms

00:18:47.620 that I might

00:18:48.420 reach you

00:18:49.260 but my words

00:18:53.340 like silent

00:18:54.820 raindrops

00:18:55.680 fell

00:18:56.320 and echoed

00:18:58.300 in the well

00:19:00.000 of silence

00:19:01.480 and then

00:19:05.100 the people

00:19:05.700 bowed

00:19:06.380 and prayed

00:19:07.180 to the neon

00:19:09.420 god

00:19:10.160 they had made

00:19:11.640 and the sign

00:19:13.940 flashed out

00:19:14.680 its warning

00:19:15.300 in the words

00:19:17.240 that it was

00:19:17.860 forming

00:19:18.360 and the sign

00:19:20.260 said

00:19:20.800 the words

00:19:21.900 of the prophets

00:19:22.980 are written

00:19:24.200 on the subway

00:19:25.140 walls

00:19:25.880 and tenement

00:19:26.680 halls

00:19:27.340 what

00:19:30.000 now I find

00:19:32.260 out what the

00:19:32.760 neon sign

00:19:33.480 says

00:19:33.860 and it says

00:19:34.220 the words

00:19:34.520 of the prophets

00:19:34.980 are written

00:19:35.360 on the subway

00:19:35.900 walls

00:19:36.220 and tenement

00:19:36.620 halls

00:19:36.860 what the hell

00:19:37.620 is he even

00:19:38.060 talking about

00:19:38.880 and the people

00:19:42.600 bowed

00:19:43.380 and prayed

00:19:44.600 to the neon

00:19:45.740 god

00:19:46.440 they had made

00:19:47.500 wait a minute

00:19:50.140 what does a

00:19:51.840 neon sign

00:19:53.140 do

00:19:53.820 a neon sign

00:19:59.100 draws your

00:20:00.620 eyes

00:20:01.100 away

00:20:01.660 from everything

00:20:02.620 and it

00:20:04.480 advertises

00:20:05.540 and this sign

00:20:09.400 was advertising

00:20:10.320 that the words

00:20:11.080 of the prophets

00:20:11.780 are written

00:20:12.280 on the subway

00:20:12.940 walls

00:20:13.520 well when you

00:20:14.500 hear the phrase

00:20:15.380 written on the

00:20:16.040 subway walls

00:20:16.620 and you've

00:20:16.900 ever been to

00:20:17.380 New York

00:20:17.800 at least

00:20:18.600 lately

00:20:19.100 that means

00:20:21.220 spray paint

00:20:21.920 that's not

00:20:23.020 what he's

00:20:23.300 talking about

00:20:23.980 the words

00:20:27.400 of the prophets

00:20:27.900 are written

00:20:28.240 on the subway

00:20:28.840 walls

00:20:29.220 he was talking

00:20:30.120 about

00:20:30.620 advertisement

00:20:31.660 he was talking

00:20:34.640 about giant

00:20:35.500 corporations

00:20:36.200 that were

00:20:36.800 controlling

00:20:37.380 everything

00:20:38.220 and were

00:20:39.120 making it

00:20:39.820 so wonderful

00:20:41.060 so comfortable

00:20:42.900 that no one

00:20:44.640 was even

00:20:45.080 talking to

00:20:45.940 each other

00:20:46.420 anymore

00:20:46.980 everyone was

00:20:48.840 talking nonsense

00:20:49.860 and he was

00:20:50.760 standing there

00:20:51.300 saying people

00:20:51.980 wake up

00:20:53.200 and no one

00:20:57.020 would

00:20:57.380 and those

00:21:04.860 words of the

00:21:05.360 prophets

00:21:05.800 were whispered

00:21:07.780 in the sound

00:21:09.260 of silence

00:21:09.960 Paul Simon

00:21:15.740 saw

00:21:18.040 in his

00:21:20.200 generation

00:21:20.840 he saw

00:21:22.840 the things

00:21:23.820 and stood

00:21:24.880 against the

00:21:27.260 things my

00:21:27.700 grandfather

00:21:28.260 didn't

00:21:28.660 understand

00:21:29.320 my

00:21:32.960 grandfather

00:21:33.460 said

00:21:33.800 you know

00:21:34.020 they're all

00:21:34.380 hippies

00:21:34.800 well no

00:21:35.420 no some

00:21:35.960 of them

00:21:36.240 grandpa

00:21:36.700 have a good

00:21:37.300 point

00:21:37.540 some of

00:21:37.940 them are

00:21:38.280 just dope

00:21:39.020 smoking

00:21:39.520 orgy

00:21:40.040 loving

00:21:40.460 hippies

00:21:41.260 but a

00:21:42.700 lot of

00:21:43.240 them saw

00:21:44.020 problems

00:21:44.820 with the

00:21:45.500 1950s

00:21:46.360 and the

00:21:46.540 1960s

00:21:47.340 and they

00:21:47.620 wanted to

00:21:48.000 change

00:21:48.300 society

00:21:48.920 and some

00:21:50.100 of them

00:21:50.440 were really

00:21:50.980 quite smart

00:21:52.020 but it

00:21:54.080 seems as

00:21:54.700 though

00:21:55.040 those people

00:21:56.120 have

00:21:56.480 completely

00:21:57.160 sold out

00:21:58.160 because

00:22:01.100 maybe they

00:22:02.120 became rich

00:22:02.960 and now

00:22:04.140 they're in

00:22:04.660 charge of

00:22:05.360 the machine

00:22:06.040 now they're

00:22:07.840 writing the

00:22:08.540 words on

00:22:09.340 the subway

00:22:09.780 walls

00:22:10.380 now they're

00:22:11.660 in charge

00:22:12.240 of the

00:22:12.600 neon sign

00:22:13.420 and they are

00:22:14.580 demanding that

00:22:15.700 people talk

00:22:16.720 without speaking

00:22:17.740 people hear

00:22:19.000 without listening

00:22:19.960 and anyone

00:22:21.880 who writes a

00:22:22.660 song that

00:22:23.420 doesn't go

00:22:24.900 with the

00:22:25.280 neon sign

00:22:26.160 no voice

00:22:28.640 is going

00:22:28.900 to share

00:22:29.160 that song

00:22:29.760 what was

00:22:33.640 true then

00:22:34.140 is true

00:22:34.500 today

00:22:34.940 unless

00:22:37.660 you choose

00:22:39.540 to dare

00:22:41.820 break

00:22:42.700 and disturb

00:22:43.820 the sound

00:22:45.640 of silence

00:22:46.700 this is

00:22:50.560 the best

00:22:51.160 of the

00:22:51.540 glenbeck

00:22:51.860 program

00:22:52.440 harry den

00:22:56.220 the author

00:22:56.620 of zero

00:22:57.220 hour

00:22:57.780 an economist

00:22:58.780 who i think

00:22:59.460 has called

00:23:00.580 many things

00:23:02.100 in the last

00:23:02.560 20 years

00:23:03.260 even longer

00:23:04.420 than that

00:23:04.760 30 years

00:23:05.300 really right

00:23:08.040 on the money

00:23:08.960 harry welcome

00:23:10.020 how are you

00:23:10.960 so i want

00:23:13.520 to talk to

00:23:13.900 you a little

00:23:14.140 bit about

00:23:14.600 uh game

00:23:15.380 stop because

00:23:16.480 uh you know

00:23:17.500 i've been

00:23:17.820 saying that

00:23:18.460 the system

00:23:19.160 has been

00:23:20.020 gamed

00:23:20.860 for a long

00:23:22.440 time i mean

00:23:23.000 when when

00:23:23.600 you know

00:23:23.920 george bush

00:23:24.660 had to violate

00:23:25.800 the free market

00:23:26.480 to save the

00:23:27.180 free market

00:23:27.720 and we bailed

00:23:29.040 all these banks

00:23:29.760 out etc etc

00:23:30.680 and then we

00:23:31.040 just continue

00:23:31.720 to do it

00:23:32.260 you and i

00:23:32.820 talked about

00:23:33.540 uh in

00:23:34.900 what 2019

00:23:36.280 you said

00:23:37.600 in the

00:23:38.280 spring

00:23:39.040 something

00:23:40.280 will happen

00:23:40.860 and the

00:23:41.640 uh and the

00:23:42.900 stock market

00:23:43.520 will fall

00:23:44.220 and the

00:23:44.600 economy will

00:23:45.220 totally change

00:23:46.120 it was

00:23:46.840 covid that

00:23:47.820 was that

00:23:48.280 something that

00:23:49.040 happened

00:23:49.400 uh and

00:23:51.140 you've been

00:23:51.480 right now

00:23:52.100 it what

00:23:53.820 what does

00:23:54.200 this mean

00:23:54.800 this this

00:23:55.560 game stop

00:23:56.300 thing some

00:23:56.780 people say

00:23:57.200 it's the

00:23:57.500 beginning of

00:23:58.340 the end and

00:23:58.980 it's a real

00:23:59.440 revolution

00:24:00.060 some people

00:24:01.320 say it was

00:24:02.080 no big deal

00:24:02.680 some people

00:24:03.360 say that

00:24:04.160 it is

00:24:05.020 going to

00:24:05.860 change and

00:24:06.760 the oligarchs

00:24:07.920 are going

00:24:08.660 to rule

00:24:09.340 because of

00:24:10.200 this

00:24:10.560 well you know

00:24:12.840 i i see it

00:24:13.540 more on the

00:24:13.940 revolution side

00:24:14.740 because we're

00:24:15.080 in a very

00:24:15.600 important cycle

00:24:16.500 like the

00:24:16.980 american

00:24:17.280 revolution that

00:24:18.140 brought in

00:24:18.480 democracy and

00:24:19.360 knocked down

00:24:20.000 the monarchs

00:24:20.620 for the first

00:24:21.080 time before

00:24:21.940 that it was

00:24:22.440 the protestant

00:24:23.080 revolution that

00:24:23.820 took down the

00:24:24.560 all-powerful

00:24:25.700 catholic church

00:24:26.560 of the time

00:24:27.140 i think it's

00:24:28.040 the central banks

00:24:28.860 going down this

00:24:29.580 time and i

00:24:30.600 cannot wait

00:24:31.400 because this

00:24:32.040 whole game

00:24:32.620 stop thing

00:24:33.260 only happens

00:24:34.340 in an in a

00:24:35.320 environment i

00:24:36.440 call the markets

00:24:37.160 on crack so

00:24:38.480 so people

00:24:39.380 think the

00:24:39.900 insiders

00:24:40.380 manipulate the

00:24:41.080 market poll

00:24:41.680 just so 66

00:24:42.680 percent of

00:24:43.360 people insiders

00:24:44.720 are manipulating

00:24:45.320 the market

00:24:45.760 well it's

00:24:46.180 worse than

00:24:46.880 that it

00:24:47.500 starts with

00:24:48.040 the federal

00:24:48.380 reserve and

00:24:49.000 central banks

00:24:49.620 they've been

00:24:50.960 pumping money

00:24:51.720 non-stop now

00:24:52.680 you got a

00:24:52.920 real minute

00:24:53.180 this is not

00:24:54.220 lowering interest

00:24:55.040 rates and

00:24:55.480 inducing people

00:24:56.540 to borrow a

00:24:57.260 little more

00:24:57.660 this is literally

00:24:58.700 putting trillions

00:24:59.720 of dollars

00:25:00.320 direct created

00:25:01.280 out of nowhere

00:25:01.900 into the markets

00:25:03.180 which means now

00:25:03.900 more more money

00:25:05.500 chasing the same

00:25:06.620 financial assets

00:25:07.640 that pushes them

00:25:08.380 up but that's

00:25:09.360 not all because

00:25:10.440 they say we're

00:25:11.380 going to constantly

00:25:12.040 buy these bonds

00:25:12.920 which pushes down

00:25:13.860 long-term and

00:25:14.840 short-term rates

00:25:15.720 that means bonds

00:25:16.920 go up oh and

00:25:18.100 and that means

00:25:18.980 stocks go up so

00:25:20.340 the traders the

00:25:21.260 big traders the

00:25:22.420 real manipulators

00:25:23.440 see oh my gosh

00:25:24.820 now we can leverage

00:25:26.220 even more and oh

00:25:27.400 because we know the

00:25:28.500 direction fed's going

00:25:29.480 to push stuff and

00:25:30.400 we're not going to

00:25:30.960 see downturns for

00:25:31.900 long it reduces the

00:25:32.800 risk oh and now it

00:25:34.580 costs almost nothing

00:25:35.600 with fake interest

00:25:36.460 rates zero rates

00:25:37.440 to to finance this

00:25:39.240 leverage so so what

00:25:40.600 has been happening

00:25:41.620 i've been saying this

00:25:42.520 for years and and

00:25:43.520 you have too good

00:25:44.420 the the big money

00:25:45.940 the hedge funds and

00:25:47.040 the and the leverage

00:25:47.880 traders they throw

00:25:49.360 their weight around

00:25:50.320 they have the best

00:25:51.260 information they know

00:25:52.820 what everybody is

00:25:54.440 doing you me little

00:25:56.080 traders other funds

00:25:57.780 everything and when

00:25:58.940 they see think people

00:26:00.160 going in one direction

00:26:01.620 like bullish they jump

00:26:03.680 on it and they short

00:26:04.580 and the problem is i

00:26:06.020 don't mind that they

00:26:06.680 short anybody should

00:26:08.160 be able to go long

00:26:09.080 or short the problem

00:26:10.160 is they can do it on

00:26:11.160 high leverage with

00:26:12.680 options and futures

00:26:13.860 and literally just push

00:26:15.460 a market down until

00:26:16.860 the people that are

00:26:17.700 long capitulate so

00:26:19.420 they've been doing

00:26:20.120 this for a long time

00:26:22.060 so it's hard to do

00:26:24.820 harry what's really

00:26:26.300 disturbing to me is i

00:26:28.180 mean first of all you're

00:26:29.700 exactly right they the

00:26:31.280 fed has been uh just

00:26:33.240 they call it investing

00:26:34.660 they have been dumping

00:26:36.120 money into the stock

00:26:37.840 market which creates a

00:26:40.340 bogus stock market

00:26:42.400 they are putting money

00:26:43.820 in not little people

00:26:45.080 and and what happens

00:26:47.560 is when the fed just

00:26:49.040 starts to buy the stock

00:26:50.400 market the fed has gone

00:26:52.500 to advisors their

00:26:54.360 advisors on who to uh

00:26:56.920 invest in has been

00:26:58.540 blackrock will now

00:27:00.300 blackrock the all of

00:27:02.720 the heads of blackrock

00:27:03.800 i think except for one

00:27:04.920 are now in the in the

00:27:07.400 biden administration the

00:27:08.780 chief economic uh

00:27:10.540 advisor for the uh for

00:27:12.600 the president biden is

00:27:14.020 now uh blackrock uh

00:27:16.060 executive uh the chief

00:27:17.840 economic advisor for

00:27:19.300 kamala harris is now a

00:27:21.340 blackrock executive the

00:27:23.260 right-hand man for

00:27:24.560 yellen in the treasury

00:27:25.840 department is a blackrock

00:27:27.640 guy even goldman sachs

00:27:30.400 didn't have this

00:27:31.260 fed chairman which

00:27:33.100 puts a fed chairman

00:27:34.420 and a fed person in the

00:27:35.940 treasury so yeah we got

00:27:37.000 everything locked towards

00:27:38.420 endless stimulus and this

00:27:40.420 just invites leverage so

00:27:41.560 again fed adds money to

00:27:43.760 the markets pushing up

00:27:44.700 prices traders add a lot

00:27:46.660 more leverage pushing up

00:27:48.460 prices anymore you know

00:27:49.440 what the most important

00:27:50.180 number in the economy

00:27:51.000 right now glenn nobody's

00:27:52.260 talking about it five

00:27:53.560 hundred twenty trillion

00:27:55.620 dollars in financial

00:27:57.060 assets globally six

00:27:58.900 point two times global

00:28:00.580 gdp at eighty four

00:28:01.800 million and and way

00:28:03.300 more than money and

00:28:04.280 everything else this is

00:28:05.600 the biggest bubble it's

00:28:06.940 worse than the debt

00:28:07.800 bubble at two hundred

00:28:08.620 fifty three trillion

00:28:09.440 see in a normal economy

00:28:11.100 a growth economy debt

00:28:12.780 might be one and a half

00:28:14.140 times gdp and financial

00:28:16.100 assets might be two two

00:28:17.600 and a half now there's

00:28:19.040 six point two debts over

00:28:21.200 three times this is the

00:28:22.660 greatest bubble but the

00:28:23.780 bubble now because the

00:28:25.800 central banks use

00:28:26.740 quantitative easing

00:28:28.000 putting the money in as

00:28:29.260 you were saying this is

00:28:30.820 what's created the

00:28:31.580 financial asset bubble

00:28:32.980 this is a bigger monster

00:28:34.340 than the debt bubble and

00:28:35.480 that can deleverage and

00:28:37.140 disappear money even

00:28:38.620 faster than the debt

00:28:39.680 deleveraging so these guys

00:28:40.880 are creating a monster

00:28:41.860 that's going to kick them

00:28:43.600 very hard and i think it's

00:28:45.420 coming literally in weeks

00:28:46.960 or months no no more

00:28:48.360 than that so i um uh i

00:28:51.300 did a i did a report

00:28:53.820 back in 2006 or 7 when

00:28:56.680 i was on cnn and i did a

00:28:59.000 monologue on the money

00:29:00.280 bubble i said look the

00:29:03.020 housing bubble is coming

00:29:04.320 and uh it's going to burst

00:29:06.320 and it's going to be ugly

00:29:07.360 and then here's what's

00:29:08.560 going to happen and and

00:29:10.520 they've done all of those

00:29:11.540 things and i said at the

00:29:12.600 end of that monologue

00:29:13.480 before the housing market

00:29:15.560 bubble i said the next

00:29:17.200 bubble is going to be the

00:29:18.240 money bubble or the

00:29:19.300 everything bubble everything

00:29:21.420 will be put in and and

00:29:24.220 grossly um abused and

00:29:27.600 then everything comes down

00:29:29.560 do you agree with that

00:29:30.480 yes yes and and that

00:29:32.700 everything comes down by

00:29:34.500 history i'm the guy that

00:29:35.820 studies history and what

00:29:36.840 actually happens is that

00:29:38.060 ideology okay at least 40

00:29:40.520 to 50 percent of those

00:29:41.620 financial assets will

00:29:42.760 disappear forever that is

00:29:45.120 200 to 250 trillion

00:29:48.040 dollars two and a half to

00:29:49.380 three times global gdp is

00:29:51.600 going to disappear and if

00:29:53.400 that's not going to cause a

00:29:54.520 recession glenn that's

00:29:55.560 called a depression when

00:29:56.680 you have that much

00:29:57.400 deleveraging and of course

00:29:58.940 then the debt deleverages a

00:30:00.960 lot of economic experts say

00:30:02.920 well we kind of handled some

00:30:04.120 of the debt stuff last time

00:30:05.460 that's not going to be as

00:30:06.660 bad no no the debt will

00:30:08.920 deleverage it's this bubble

00:30:10.360 that's going to deleverage

00:30:11.260 first and trigger the debt

00:30:12.820 deleveraging and the whole

00:30:14.180 thing comes down i glenn i

00:30:15.500 can see nothing other

00:30:17.480 than something like 29 to

00:30:19.200 32 coming in the next two

00:30:20.840 to three years but that'll

00:30:22.920 be it um you know we've

00:30:25.140 been in this slow unless

00:30:26.480 unless we go to the great

00:30:28.240 reset i mean are you

00:30:29.780 following what they're

00:30:30.340 doing in davos with the

00:30:31.580 world economic forum i don't

00:30:34.700 even follow those guys oh

00:30:35.740 you got it you you have to

00:30:37.080 the great reset is happening

00:30:38.520 here in america it is yeah

00:30:40.700 it's incredible what they're

00:30:43.480 doing and i think they um

00:30:46.400 you know they're they're all

00:30:47.720 just banning together for the

00:30:50.020 build back better campaign

00:30:51.740 which is not a joe biden

00:30:53.720 campaign that's the world

00:30:54.660 economic forum and all these

00:30:56.360 prime ministers and world

00:30:57.380 leaders are using it and it

00:30:59.460 is to i i think it's the

00:31:01.180 biggest theft of wealth in all

00:31:03.900 of human history but you know

00:31:06.540 this this bubble bursting though

00:31:08.040 it's a good thing in the in

00:31:09.680 the 29 to 32 crash it was

00:31:11.780 horrible but we eliminated

00:31:13.160 about 40 to 50 percent of the

00:31:15.400 private debt which was off the

00:31:17.040 charts back then we got rid of

00:31:19.100 a lot of zombie company you

00:31:20.260 know 19 percent of public

00:31:22.460 companies these aren't small

00:31:23.520 businesses public companies

00:31:25.580 large public company can't even

00:31:26.980 pay their debt service and

00:31:28.400 they're kept they keep limping

00:31:29.700 along with this liquidity

00:31:31.000 game stop goes up and down you

00:31:33.220 know 482 points down to 112 in

00:31:35.920 one day because there's so much

00:31:37.160 liquidity that hedge funds can

00:31:39.120 short it big time and knock it

00:31:40.840 down and then now small

00:31:42.500 traders which is a really great

00:31:43.980 thing have banded together and

00:31:45.500 say look we're sick of you guys

00:31:47.280 beating on us they shoved those

00:31:49.720 shorts up these guys and they

00:31:51.980 lost five billion dollars uh in a

00:31:54.740 matter of days melbourne capital

00:31:56.260 and some other hedge funds because

00:31:57.960 they did the same thing when these

00:31:59.960 guys were heavily short on high

00:32:01.860 margin they just bought on on and

00:32:04.520 pushed the stocks up to force them

00:32:06.160 to cover their shorts and lose

00:32:07.700 money and push the stock up so

00:32:10.040 here's so harvey so so harry let

00:32:12.300 me uh let me let me take you here

00:32:15.300 because i'm really torn on this

00:32:18.260 because i think that look i think

00:32:20.800 you should be able to go long i

00:32:22.100 think you should be able to bet that

00:32:23.240 a company is going to go down go

00:32:24.500 short and you should be able to use

00:32:26.580 your money but that's not what they

00:32:28.520 really do they borrow they have all

00:32:30.080 kinds of devices that the average

00:32:31.620 person doesn't have and so when the

00:32:33.600 reddit people got on they looked at

00:32:35.900 that and said they're 40 percent more

00:32:38.640 than all of the shares these guys are

00:32:41.520 just pigs at the trough they're not

00:32:44.260 even they're not even thinking they're

00:32:46.740 just money money money money money so i

00:32:49.700 have no problem i have no problem with

00:32:52.040 them figuring that out but what i'm

00:32:54.040 concerned about is a foreign country

00:32:57.100 could come in and and leverage the

00:33:00.280 stock market and play these games

00:33:02.260 should we have should we have any kind

00:33:05.200 of rules here for this or or just leave

00:33:08.000 it alone and let the system be what it

00:33:09.740 is absolutely free market capitalism

00:33:12.860 does not work without rules but they

00:33:14.440 need to be simple simple rule you do

00:33:17.000 not have margin and and leveraged

00:33:19.640 investing except to hedge commercial

00:33:21.720 all these options and futures and margin

00:33:24.520 was so legitimate companies that need to

00:33:27.520 deliver or purchase things in the future

00:33:29.980 investments or commodities can hedge that

00:33:32.800 and guarantee the price at a small cost

00:33:35.100 and they need margin and options and stuff

00:33:37.260 to do that it should not be used for what

00:33:39.580 i call i'm calling what you just described

00:33:42.180 predatory investment you see people

00:33:45.080 leaning in one direction and you just

00:33:47.060 come down and dive bomb them until they

00:33:49.820 capitulate and sell and then you turn

00:33:52.100 around and buy that is not good for the

00:33:54.600 markets and again hedge funds have been

00:33:56.920 doing this big money forever now the

00:33:58.980 small traders are doing the other end

00:34:00.620 and they're actually teaching the hedge

00:34:02.260 fund you better be careful next time you

00:34:04.200 do this because we're now watching you and

00:34:07.280 doing the same thing now this but the

00:34:09.320 problem is this creates this on both

00:34:11.500 sides you would eliminate all this stupid

00:34:13.940 stuff if you didn't allow leveraged

00:34:16.640 investing just you go short or long

00:34:19.380 leverage is only for legitimate hedgers

00:34:22.320 and not for predatory investing so harry what

00:34:26.100 does this mean uh you know 29 to 33 kind

00:34:29.780 of crash you say coming in the next 45

00:34:32.060 days or so um and i've heard others say

00:34:35.860 exactly the same thing um what does that

00:34:38.580 mean for the average person like the banks

00:34:41.260 and your loans can they call them in what

00:34:44.480 what does that mean what's going to happen

00:34:46.200 to the the homer simpsons of the country okay

00:34:49.580 first thing it hits the rich the hardest so

00:34:51.760 that's the good news for everyday people

00:34:53.540 but everyday what happens these these uh

00:34:56.260 assets will go down businesses will fail

00:34:59.040 loans will fail um that mean and then in

00:35:02.360 businesses will lay off workers and people

00:35:04.440 will be foreclosed on real estate will go

00:35:06.800 down 30 to 50 percent stocks will go down

00:35:09.500 to 90 so so most people don't have a lot of

00:35:12.380 assets wait wait wait wait wait wait wait you

00:35:14.640 say stocks will go down 90 percent yeah

00:35:17.660 89 is what happened 29 to 32 that was just

00:35:20.880 simply a long debt bubble deleveraging it's

00:35:24.780 the most powerful downturn this glenn this is

00:35:27.660 what causes depressions instead of recessions

00:35:30.720 recessions are cleaning out companies in

00:35:33.020 ordinary debt these are bursting major

00:35:35.500 bubbles and it's always ugly so you have to

00:35:38.440 get out of the way the best thing okay real

00:35:40.420 quick get out of all leveraged asset and you

00:35:43.300 know stocks real estate that you can and and

00:35:46.300 do not get out of a loan do not pay back

00:35:48.520 a loan because when loans fail this time

00:35:51.340 they're not going to be able to bail out

00:35:52.700 the banks like last time that didn't work

00:35:54.700 that's not going to be even possible and

00:35:57.160 you may get your mortgage written down 40 or

00:35:59.840 50 percent down to market this time so get

00:36:02.580 out which is what they is what they should

00:36:05.120 have done last time called mark to market

00:36:07.280 mark to market and they suspended that see

00:36:11.000 that's why these things are good these debts

00:36:13.360 get written down at the expense of the banks

00:36:15.580 these these financial bubbles go down at the

00:36:18.480 expense of the rich and the in the traders

00:36:20.560 and stuff the everyday person may lose their

00:36:23.160 job for months or more and and and maybe have

00:36:26.320 some foreclosures but they end up coming out

00:36:28.480 the winners when mortgages are more affordable

00:36:30.920 again and they can invest for the future and

00:36:33.140 stocks are more rich why do you think they'll

00:36:35.520 return to why do you think they'll return to mark

00:36:37.840 to market when they didn't do it the last

00:36:39.720 time and that was what they always did but

00:36:43.620 okay i said it earlier they created a bigger but

00:36:47.400 to save the debt bubble from deleveraging and

00:36:49.740 the banks with it that they started

00:36:51.980 quantitative easing it only worked with

00:36:54.680 driving up assets so they kept doubling down

00:36:57.120 on that this financial asset monster is bigger

00:37:00.120 than the central bank remote it said 6.2 times

00:37:03.400 gdp when this the next phase of this you

00:37:06.260 should notice every stock crash since the peak

00:37:09.640 in january um early to that 2018 which is the

00:37:14.640 beginning of this crashing process every crash

00:37:18.060 has gone to lower lows after a higher high and

00:37:20.420 the next crash is due to be 45 to 50 percent

00:37:24.500 and that's when the central banks lose control

00:37:27.760 it goes down so much that people say well

00:37:30.140 wait a minute you keep pumping in money you

00:37:32.000 keep saving coming and we keep going lower

00:37:33.980 there's something wrong here and they lose their credibility

00:37:36.900 i think central banks are going to go down like the catholic church

00:37:41.000 and the monarchs did in the past two major

00:37:44.100 i don't i mean in a way i hope you're right

00:37:47.300 um about you know what they're going to do about it

00:37:49.920 i i just don't think they're going to

00:37:51.920 um i just think they're going to try to

00:37:53.940 have a choice glenn when you fail

00:37:55.640 they're going to try to consult they're going to try to

00:37:57.200 they're going to try to consolidate globally

00:37:59.420 they're going to make it bigger than it is now

00:38:01.520 they can't do it this this is bigger than them

00:38:04.020 how can they control a 520 trillion monster

00:38:08.160 where as we observed in february march of last year

00:38:11.480 stocks alone dropped 40 percent globally in five weeks

00:38:15.920 that was like 40 trillion hits of the global economy

00:38:18.600 right there and okay then they pump again

00:38:21.440 but there's a point where you keep doing this

00:38:23.440 and it keeps going lower every time

00:38:25.760 there is a point where it is seen as a failure and not a success

00:38:29.960 people still think the central banks are saving the economy

00:38:32.700 no they're creating a twice as big a bubble as we had in 2007

00:38:37.500 and they will lose control

00:38:40.140 all bubbles go out of control

00:38:41.820 because you can't keep doubling everything

00:38:44.200 every several years

00:38:45.740 and and without it finally blowing

00:38:48.400 even without a trigger

00:38:49.800 and covet is the perfect trigger

00:38:51.380 because glenn we have gotten back 80 percent v

00:38:54.520 the other 20 percent we don't get back

00:38:56.900 there's many industries

00:38:58.080 travel entertainment

00:38:59.100 a lot of retail

00:38:59.840 it is not coming for years

00:39:01.880 so so we are not going to get back to normal

00:39:04.600 and yet the stock market's priced like

00:39:06.400 we're going to have the greatest boom in history

00:39:07.940 na na na na na

00:39:09.400 na naana

00:39:10.060 begitu

00:39:10.540 na na na na na

00:39:11.180 You

The Glenn Beck Program - February 03, 2021

Best of The Program ｜ Guest： Harry Dent ｜ 2⧸3⧸21

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