The Glenn Beck Program - August 05, 2024


Best of the Program ｜ Guests： AG Andrew Bailey & Carol Roth ｜ 8⧸5⧸24


Episode Stats

Length

45 minutes

Words per Minute

151.34091

Word Count

6,817

Sentence Count

493


Summary


Transcript

00:00:00.000 It's Monday. There's a lot going on today. The stock market, also possible war now in engaging
00:00:07.160 Israel. Maybe, maybe Iran with some new kind of attack. What does that mean? What does it mean
00:00:16.580 to you? All of that on today's podcast. Jace Case is our sponsor for The Blaze. Jace is a really
00:00:25.280 good medical company that understands preparedness, understands that you have to take control
00:00:31.660 of your own life. What happens when the pharmacies are closed or the trucks stop coming just for
00:00:37.420 even a little while? There's a breakdown again because of war or even natural disaster or
00:00:44.540 whatever. You need antibiotics or you need your insulin. Here's the thing you can do. Jace Case
00:00:50.860 right now will allow you to start stocking up on medication now so you are prepared. And
00:00:56.220 their Jace Case is personalized emergency kit. This is the very beginning and I think this
00:01:01.520 is really an essential thing to have. It has all the essential antibiotics and medications
00:01:06.000 that treat the most common and deadly bacterial infections. Five life-saving antibiotics and
00:01:11.260 they're in your home ready to use. Jace.com slash Beck. Jace.com slash Beck.
00:01:20.860 You're listening to the best of the Glenn Beck program. What's happening in Great Britain is coming
00:01:33.760 here. It is coming here. What is happening in Great Britain right now is exactly what I laid out for
00:01:44.500 you as the Bubba effect. I'll get into that here in just a few minutes. First, let me tell you
00:01:50.540 about what is happening with the stock market. Friday, we had a bad jobs report. We're still not
00:01:59.340 in a recession. Indicators are showing that we're headed towards one. But, you know, the indicators
00:02:05.820 have been wrong before. We are headed towards one. We're headed for a depression at some point. I just
00:02:12.320 don't know when. I just don't know when. Nobody does. That's why I ask you, please be prepared and
00:02:28.260 please take my, um, look, I'm not an expert in anything. Nothing. I'm a, I'm a former, uh, uh, DJ
00:02:41.820 that is a recovering alcoholic and I'm a self-educated man. So take everything that you,
00:02:48.060 that I say with a grain of salt. I want you, I need you to do your own homework. I hope, honestly,
00:02:54.400 this hasn't happened yet, but I honestly hope that you do your homework and you find out,
00:02:59.420 wait a minute, Glenn, you're missing this. And you show that I'm wrong because I want to be wrong,
00:03:06.320 but it is coming. And we are in the birth pangs of, of the future. We are giving birth right now to
00:03:16.720 the future. The baby is coming out and I don't think, I don't think we're going to like it. I think
00:03:23.080 it's one of those babies that comes out and it's like, Hey mom and dad, uh, you know, and guarded by
00:03:31.520 Rottweilers, but we're, we're approaching something. Um, and our Dow is down almost 1200 points in futures.
00:03:42.420 The reason why this is so important is because it's not alone. Friday, bad jobs numbers. We were
00:03:51.920 down 611 points. That's a pretty big fall this morning before we even open up, we're down almost
00:03:58.660 1200 points. You know, that's almost 2000, uh, points in two days, but in Japan, stocks were wiped
00:04:08.620 out. This happened while you were asleep. The Nikkei 225 is, uh, falling 12 and a half percent.
00:04:17.040 That is the biggest single day decline since black Monday's collapse of 19, what 89 or 87. I think it
00:04:24.240 was. Uh, also if you read any financial news over the weekend, you saw that Warren Buffett is selling
00:04:32.440 like everything. He is having the biggest fire sale, uh, he's ever had. Uh, he's never sold
00:04:42.020 stocks, dumped stocks like he's dumping them right now. That's what happened to Apple. Uh, a couple of
00:04:47.880 weeks ago, he said, ah, yeah, I don't really feel comfortable with Apple. I'm going to sell. But what
00:04:52.880 we didn't know until he had to file is he's selling everything. Um, and, and, uh, holding on just to the
00:05:01.400 creme de la creme. What does Warren Buffett know that we don't know? Nothing. The difference
00:05:10.140 between Warren Buffett and you and me is he trusts his gut. He trusts what he reads. Uh, and he doesn't
00:05:21.460 wait for other people to verify his team verifies and he trusts his team.
00:05:28.320 Um, I just, the words of my grandfather keep running, ringing in my head. If we only knew
00:05:35.900 what the rich people knew, uh, before the great depression, we would have, we would have been
00:05:42.120 fine. Well, what are the rich people doing? Also China found out this weekend they are buying,
00:05:49.700 I think it was 50 tons of gold more than they said they did. They said they stopped buying gold,
00:05:57.700 but now some sleuths have gone out there and looked because something wasn't right. Uh, and,
00:06:04.120 uh, all this gold was being shipped over to China and they realized, my gosh, the China is still buying
00:06:10.440 it. They're telling people they're not to try to keep the price down. So what are the rich people doing?
00:06:17.780 What are the people in the know doing? Um, the VIX, which is the volatility, um, something that's
00:06:28.160 really important if you watch stocks. Um, but it's just important for you to know, and I'm, this is
00:06:35.060 off the top of my head. Um, in 2008, the VIX, the index of volatility, how volatile are things right
00:06:45.000 now? Um, was it, I think 47, uh, in 2008 in COVID, it was like 56 and it's currently on a scale of one
00:06:58.320 to 165. So that is an alarm bell that people watch and say, uh, what kind of what, what's the weather
00:07:07.620 forecast? What's the VIX say? Are we headed towards really choppy seas? Yeah, more, according to the
00:07:15.880 VIX, according to them, more than 2008 or COVID. Intel just announced they're cutting 15,000 jobs or 15%
00:07:30.100 of its workforce. Now let me go and switch topics to England.
00:07:43.540 What you're seeing in England is a, a look-see into the things that are to come here in America.
00:07:52.540 What's been happening in England? Well, for a long time, this is why Brexit happened.
00:08:02.040 And by the way, I don't think you're going to hear this analysis with, with other people. Um,
00:08:08.080 so take it for what it's worth. But as I read it, Brexit happened in a way we can relate to.
00:08:17.400 Brexit happened because people were tired of being told by bureaucrats that they never elected
00:08:24.160 what they had to do, how they were going to live their life. And those same bureaucrats said,
00:08:30.660 and you know what? I mean, it's not that cool to be British. I mean, you've got a really bad past,
00:08:36.660 uh, Great Britain. And, uh, so I wouldn't be so, I wouldn't be so proud. In fact, don't play,
00:08:42.140 don't, don't fly your flag. You should fly the European flag.
00:08:45.140 Yeah.
00:08:47.400 Okay. People didn't like that. They want to have their own control.
00:08:55.040 Then on top of that, you had wild, unfettered immigration. Do either of these sound familiar
00:09:04.160 to you? So they had wild, unfettered, uh, immigration. At the same time, they built on top
00:09:13.340 of a house of cards where they said they were taking Islamic terrorism seriously, but then they
00:09:20.060 opened the borders and the police never took them seriously. It was never taken seriously. You could
00:09:27.060 chop a guy's head off in the streets of England. And what would people say?
00:09:33.700 Well, your officials would say, we got it under control. It was just a misunderstanding. It didn't
00:09:40.380 have anything to do with anything. It is nothing to see here. Go back to your homes. Nothing to worry
00:09:47.820 about. Kids were being kidnapped by Islamic rings and they were being sexually abused. And the police
00:09:58.140 denied it, denied it, denied it, denied it. Then when it couldn't be denied anymore, they did a little
00:10:04.980 bit, very little bit. But then everybody in the neighborhood that was standing up, they were deemed the
00:10:12.160 bad guy.
00:10:12.760 So this is the Bubba effect. Three girls in a dance class, just cute, cute little girls in a dance
00:10:23.880 class. 17-year-old kid comes in and stabs the three girls. Now, he has a Somalian name. So everybody
00:10:37.000 just assumed he was an immigrant. He's not an immigrant. Bubba effect. Bubba effect. Remember what
00:10:45.580 that was? I told you that in 2004, I was talking to special forces. And I said, what is the thing that
00:10:56.600 you are most concerned about? And they said, the Bubba effect. What is that? When the government has lost
00:11:03.340 all of its credibility, and for instance, they say, we're serious about terror, and they're not.
00:11:12.180 And people keep pointing it out, and the government doesn't response, and then something bad happens,
00:11:20.280 and Bubba, not really knowing anything about world religions or whatever, will walk into a convenience
00:11:26.400 store, and he'll shoot a Sikh because he's got a turban, and he doesn't know. He'll shoot a
00:11:33.320 Sikh. And it's you people. And everybody will know that's wrong. But when the federal government
00:11:41.260 comes in, the people will stand up and say, hey, we'll deal with Bubba. We know he was wrong.
00:11:49.800 But he was acting because you refuse to act. You are the problem.
00:11:55.860 That's what's happened here. They were wrong. And then on top of that, you have inside and outside
00:12:06.000 nefarious forces. You have people who are white skinhead Nazis. You have people who are
00:12:17.740 Islamicists. You have people who are just power hungry. You have people who just want to see the
00:12:27.740 world burn. And they're all on social media. And what is the government doing? The government is
00:12:35.320 blaming everything on the right and social media, which will only make things worse because the
00:12:45.120 forgotten man is not a neo-Nazi. The forgotten man is just the guy who loves his country, has gone to
00:12:52.460 work every day, seems to be forgotten, seems to be left behind. Nobody ever seems to talk about him
00:12:59.720 unless it's to blame him for something that he had nothing to do with.
00:13:04.240 And, of course, everybody's lining up to quash freedom of speech. They don't have it like we have it here
00:13:15.920 in America. They already have speech laws. They're now talking about shutting everybody up.
00:13:24.760 So, that won't make things better. It will make things worse.
00:13:32.760 I don't care if all the bombs have gone off and everything has, you know, gotten a little,
00:13:40.820 well, steamy and radioactive rubble everywhere. My primary question, when we are there at the last
00:13:50.220 days and everything is gone, is, okay, what do we have to eat? I mean, dinner time is going to come
00:13:56.520 on that day. And I'm going to be hungry because you'll burn a lot of calories on that day. The
00:14:01.200 apocalypse is, you're going to, I mean, you need the energy to face that. That's why you need my
00:14:07.100 Patriot Supply. My Patriot Supply is the nation's leader in high quality emergency food and other
00:14:13.340 preparedness equipment. Having served millions of Americans' families, they are the most trusted name
00:14:18.820 in survival. And they, you know, provide peace of mind for your family, especially as a dad,
00:14:25.420 I feel this way. Go to mypatriotsupply.com right now. Save $200 on their best-selling three-month
00:14:30.620 emergency food kit. It delivers over 2,000 calories per day, sealed inside practically
00:14:35.900 unpierceable packaging, and it lasts 25 years. It's mypatriotsupply.com. That's mypatriotsupply.com.
00:14:43.860 Now back to the podcast. You're listening to the best of the Glenn Beck Program.
00:14:48.820 All right. Carol Roth, welcome to the program.
00:14:57.040 Glenn, you have to promise me that one day you'll bring me on here to talk about good news. We'll
00:15:02.280 talk about ice cream. We'll talk about puppy dogs. I feel like your audience, every time they see me,
00:15:07.280 like, oh no, Carol Roth is back again.
00:15:09.920 I know. I tell you, Carol, I was just thinking the same thing. You know, we never talk when it's
00:15:14.000 good times. The stock market now, I have lots of questions. Can you just give me the update on
00:15:22.240 what's happened around the world and then with the opening bell with the stock market?
00:15:28.660 So last week, obviously, we saw some selling off in the stock market. It started with a repricing of
00:15:36.900 the quote-unquote magnificent seven tech stocks that had been driving up the market, taking
00:15:42.720 everything else up with them. And I think there was an awakening that, oh, in order for AI to be a
00:15:50.200 thesis, companies are going to actually have to spend a lot of money. And that started kind of things
00:15:55.340 a few weeks ago moving. Then in the middle of last week, we had the Fed who did not rate, or excuse me,
00:16:02.840 did not lower rates, but did signal that that could be on the table for September. And, you know,
00:16:09.800 normally you would say, okay, the market wants the Fed to cut rates. But what happened is then we got a
00:16:16.880 weak job report on Friday. And while sometimes, you know, the bad news can be good news for the market,
00:16:24.720 in this case, they took it as bad news that the potentially the Fed was behind the curve in terms
00:16:31.260 of lowering rates. And that, you know, that they felt like maybe this whole idea of a quote-unquote
00:16:38.600 soft landing, the idea that you can get the economy and inflation down without wrecking the economy is
00:16:45.600 off the table. Then while all of this is going on, you have the Bank of Japan last week that decided
00:16:53.340 to do the opposite of the Fed. They have been in 17 years of basically negative or zero interest rates.
00:17:02.760 So their normalization is going in the other direction. They've been trying to raise rates.
00:17:07.380 They did that. So for the first time in 17 years, about four months ago, and then they decided because
00:17:13.720 the yen, you know, the yen against the dollar, they needed to fix that, that they were going to go ahead
00:17:20.340 and raise their rates. And unfortunately, they did not thread the needle perfectly on that. And that
00:17:26.360 created implications for their markets. So when Japan opened, you know, last night, our time,
00:17:33.960 their time in the morning, they saw this massive, massive sell-off. And what happens sometimes when
00:17:41.540 you get these massive sell-offs are these unwinding of trades. Because they have had zero to negative
00:17:48.360 interest rates, you get a lot of people borrowing. Those people who borrow make bets on the yen and
00:17:54.140 on stocks, both in Japan and in the U.S. And then they get the margin calls. And then they end up having
00:18:00.900 to sell. And that begins, begets more margin calls. So you saw the Japanese Nikkei go down 12.5%
00:18:09.600 in one day. It was their single worst day since 1987, that Black Monday day. So now, as, you know,
00:18:19.200 the market has opened here in the United States, you know, there's anticipation of, you know, do we
00:18:24.340 get, you know, how much blowback do we get, especially since we had seen some weakness last
00:18:29.200 week. And, you know, obviously, things are going to shift during the trading day as we talk a lot here.
00:18:34.560 So this is kind of real time. But the market opened up down pretty significantly, depending on the
00:18:40.520 index, somewhere between three and almost 5%. And we have seen that come off a little bit as we're
00:18:48.320 talking real time. I think that is, if there's any silver lining here, it's not that it opened and then
00:18:54.400 it continued to fall and continued to fall. There was a little bit of support there. But still, you know,
00:18:59.920 as we're talking, we're still seeing the Dow down almost 3%, the NASDAQ down almost 4%.
00:19:06.500 So it is definitely an ugly day across the market.
00:19:11.200 So how much of this has to do with technology? I mean, NVIDIA, which was the darling just,
00:19:18.660 I don't know, a month ago, everybody's like, you know, God, I got NVIDIA. And maybe that's,
00:19:23.360 you know, that's greed talking. And that's why you shouldn't buy NVIDIA when everyone is saying
00:19:28.060 that. But they, they're down almost 10% today. That's down 23% from their high, I think like a
00:19:36.780 month ago. Artificial intelligence stocks are down. Tesla is down. Supermicrocomputer down 9%.
00:19:48.700 Is this just everybody down? And why are the tech stocks down? Were they just too high? Do you know?
00:19:58.060 Yeah, so this is a bit of a repricing in tech. And let's put this in perspective. So the NASDAQ,
00:20:05.340 which is very tech heavy, is sort of a good proxy for what's going on in the tech market. The 52 week
00:20:12.240 range, the low point of within the last year of where the NASDAQ has been was 12,544.
00:20:20.420 We're still today at over 16,000. So over the last 52 weeks, we still have these massive gains. It got
00:20:31.160 as high as 18,671. And I think that's part of the catalyst here. I mean, these prices, this quote,
00:20:41.200 unquote, bubble was not sustainable. A lot of people were talking about that. And the fact that,
00:20:46.860 you know, we see this over exuberance in tech all the time, you know, first, it was, you know,
00:20:52.300 Web3 and Internet of Things and, you know, the metaverse, and now it's AI. And all of those theses
00:20:58.940 have eventually, you know, come back down to reality. I'm not sure we're in reality yet. But,
00:21:05.800 you know, as you have companies talking about their earnings and talking about the spend,
00:21:11.220 I think there was just this insanity amongst investors that they felt like, hey, I was just
00:21:16.500 going to take off without looking at the cost side. And as companies are coming out and talking
00:21:21.700 about, oh, here's how much capital we're going to have to deploy in order for this AI thesis to
00:21:27.400 really work out the way that it has. I think the market went, OK, maybe we're not pricing this
00:21:33.660 correctly. So I think that's part of it. Another catalyst that we've seen is Warren Buffett
00:21:39.540 noted that he had lessened his position in Apple by about 49 percent. And obviously,
00:21:49.100 that's not lessening. That's not lessening. That's cutting it in half. That's significant.
00:21:56.640 Cutting it in half.
00:21:57.160 What does, and he's doing this with a lot of his holdings, if I understand right. He's making some
00:22:05.660 of the biggest sales he's ever made. It's almost as if he's becoming bullish on America. And what does
00:22:15.180 he know that we don't know again? This is a good question. And it's funny that we're having this
00:22:20.840 discussion today, because if you go through his shareholder letter, you know, one of his other
00:22:26.260 really big bets that he talks about in the shareholder letter is starting in 2019, he doubled
00:22:31.720 down on Japan. So he has five really big companies and really big positions in Japan.
00:22:36.720 So the day that we're talking about Japan going down and at the same time the U.S. is going down,
00:22:42.440 obviously, Warren Buffett was not a catalyst for both of those things because he's still still,
00:22:47.180 as far as we know, still bullish on the Japanese trade. But it is interesting. I mean, he has this
00:22:54.120 massive cash pile. I mean, $276 billion, I think it is, which is just almost impossible to deploy.
00:23:05.800 I mean, to think about how, you know, as an investor, do you even think about putting that
00:23:11.180 to work and getting the appropriate returns? So I don't know. There could be several catalysts. This
00:23:17.220 is all very much speculation because we have not heard from Warren at this point. I don't know if this
00:23:22.960 is a signal where he felt like, hey, tech is just getting, you know, so frothy. This is a really good
00:23:29.460 time for me to take profits, maybe a little bit of taking profits ahead of the election,
00:23:35.040 worry about an increase in capital gains, perhaps under a potential new administration. Although I
00:23:42.080 don't think that he would have sold, you know, half of the position because of that. But but one never
00:23:47.160 knows. And yeah, just repositioning his portfolio. But certainly, you know, given the fact that he
00:23:53.020 is lauded as the best investor of all time, when he does things, people have concern. And the fact
00:23:59.660 that, you know, whether it's Bank of America, or it's Apple or some of his other positions, you know,
00:24:05.420 as the fact that he is going to cash, certainly, I would imagine on the retail side, and probably on
00:24:11.580 the institutional side, to some extent, has an impact in terms of people's behavior.
00:24:18.240 All right. So two things that are protection against these have gone down. And you would think
00:24:29.480 that they should have gone up. But my guess is gold and Bitcoin have both gone down gold just a
00:24:38.680 little bit, and Bitcoin, about $10,000. And I'm guessing that's because when the market crashes,
00:24:49.960 people with portfolios that have taken out money and borrowed money to buy it, they get a margin call,
00:24:56.380 and they got to sell something. So yeah, that's a good time to buy Bitcoin and gold, I would imagine.
00:25:03.140 Yeah, so that's my thesis as well, is that you would think, particularly as the yields on the
00:25:12.560 10-year are coming down, that you would see gold going up. And certainly gold has also been on quite
00:25:19.200 a run for some time. But I have that same feeling that, you know, in this insanity, when you're getting
00:25:26.160 these margin calls, because everything else is kind of falling apart, you're looking at what it is in
00:25:31.500 your portfolio that you can sell. And a likely scenario is something that has done well for you
00:25:37.940 that maybe you feel okay taking some profits on. So that could be gold, that could be Bitcoin and the
00:25:43.100 like. Something else that may weigh in just a tiny bit is that we've seen China also pause its gold
00:25:51.620 purchases. China, biggest buyer of gold for 2023. You know, they took a pause in May and June,
00:25:59.420 although, you know, they have signaled that they are going to continue to buy. But just based on
00:26:04.480 pricing, they wanted to see, you know, where the price was going to settle out. That's at least the
00:26:08.860 buzz around, you know, their thinking. And so perhaps without them...
00:26:13.860 Wait, I understood that they did not stop, that they said they were stopping, but they actually were
00:26:23.300 still buying it. That's what I read this weekend. Did you read that?
00:26:27.860 So, you know, I'm going off of the World Gold Council. So, you know, it is certainly possible
00:26:34.020 that they could still be purchasing it, but that was sort of there. And again, you have to remember
00:26:40.760 the timing difference is that the reports are for May and June. We also had July. So it could be the
00:26:46.120 July that they picked back up again. So all these things could be weighing in a little bit,
00:26:50.980 but again, I'm going to look at my screen right now because I'm trying to get all this real time.
00:26:56.160 You know, you still have gold up well over the 2,400 level. I remember, you know, last year,
00:27:02.840 Glenn, when we were like, oh, is gold going to break 2,000? We think that it is. And, you know,
00:27:06.480 now here we are talking about it at, you know, the levels of 2,400 or 2,500. But I think if we take a
00:27:13.060 step back and think about the implications of, you know, what this could mean, if we're talking about,
00:27:20.820 you know, whether it's, you know, with the indications coming from the jobs report and
00:27:25.440 the Fed that there might be some cracks in the economy, if there is continued weakness in the
00:27:31.640 market, there ends up being a bit of a self-fulfilling prophecy. There's something
00:27:37.220 called the wealth effect. And when people's portfolios are doing really well, they feel
00:27:42.860 confident to make more purchases and to, you know, to go out and spend. And when they come back down,
00:27:50.060 even though we're still, you know, they've still done quite well and they're still, you know,
00:27:54.120 still ahead, they start feeling, wow, maybe I don't have this bandwidth. The people who've had
00:28:01.360 assets are the ones who've been keeping the consumer spending afloat. So if those people all
00:28:07.420 of a sudden feel like, I don't know if I should be, you know, spending the same way that I have,
00:28:13.200 that could impact the economy. Then what does that mean? Well, then you have,
00:28:18.200 if the economy's down and stock market's down, you have fewer receipts for the federal government
00:28:23.980 who is still planning to run this year, a $2 trillion deficit, which means that deficit could
00:28:30.960 increase both from a nominal value standpoint, as well as a percentage of GDP. And that in and of
00:28:38.800 itself could lead to more debt monetization and to more inflation. So, you know, you have to kind
00:28:44.860 of play this out. Yeah, I know we're getting a little wonky here. So we have a war on the horizon
00:28:51.640 in the Middle East and oil has gone down. That means that most people who are betting on oil think
00:28:57.500 that there's going to be less need for it because the economy is going to be going down. And then we
00:29:03.620 have a possible Harris administration, the most liberal woman to ever be close to the Oval Office.
00:29:12.200 She was the most liberal Senator in, uh, in the history of the United States and she could be our
00:29:19.080 next president. What would that mean to our economy? So I think that whoever the president may be,
00:29:28.500 they're going to have an awfully challenging time. And the signal was floated. I think we talked about
00:29:34.300 this Glenn a few weeks ago by these quote unquote, you know, very famous economists who said that a Trump
00:29:40.900 administration would cause an inflation bomb. And I think the reason they said that is because they
00:29:47.840 know that one is likely coming either way again, based on the debt deficits and to the extent that
00:29:54.920 we see a decrease in the market and the economy that could end up making that worse. So they're
00:30:00.780 setting the table that things aren't going to go well. And to the extent that Donald Trump wins,
00:30:05.900 they want to be able to say, I told you so. So that is a signal to me that there is concern, um,
00:30:11.740 either way. I think that when you're in a time where things are, you know, kind of kind of chugging
00:30:19.180 along, you're the market's going to do what the market's going to do. It's sort of disconnected from
00:30:24.040 the economy. But given the fact that we are now late in the game, that we've kind of, you know,
00:30:29.200 had several years of these rate hikes and the like, um, and things that, uh, are trying to get
00:30:35.340 back to normal, have very different benchmarks after 15 years of zero interest rate policy,
00:30:40.900 after the COVID mandate, after all of the insane Biden administration, um, mandates and, and decisions
00:30:50.440 that they've made. The fact that you have a new puppet in there, you still have the same puppet
00:30:56.120 masters. You still have the same people behind Kamala that you do behind Joe. And now they feel
00:31:03.480 like, okay, we have more time to be able to, you know, affect these insane policies and you, whether
00:31:10.300 it's, you know, desperation because they potentially are taking in less revenue, getting, you know, less
00:31:16.600 from the stock market, trying to do more capital gains. There's nothing that they're going to do
00:31:21.460 that is going to end up benefiting the economy or main street Americans.
00:31:26.960 Carol Roth, as always, thank you so much. Appreciate it. Uh, Carol Roth, the author of
00:31:33.400 You Will Own Nothing. She's a former investment banker and you can follow her at carolroth.com
00:31:40.720 slash news, carolroth.com slash news. The best of the Glenn Beck program.
00:31:49.440 So I want to read this. Uh, this is from a man, a biological man who claims to be a woman.
00:31:55.780 He says, uh, sounds like I caused quite a commotion at the gym by being trans in the ladies locker
00:32:01.840 room yesterday. A woman, very Karen confronted me in the locker room this morning, say it was
00:32:08.480 inappropriate for me to be in there. I answered every challenge when she eventually accused
00:32:13.660 me of having parts with little girls being around when reality is, is that nobody is ever
00:32:19.000 naked in there and neither am I. So I immediately went to the GM and I had a conversation about
00:32:24.800 the club's policies to make sure I was supported. That's when I learned they fielded a bunch of
00:32:30.800 calls from the previous day, which was leading to a multi-club meeting to figure out what to
00:32:36.400 do. Net net. The club is now on my side and will attempt to educate their membership. I am so sick
00:32:44.740 and tired of being educated. I may be a self-educated man, but I believe I am now officially smarter than
00:32:54.540 you with a better education than you because you cannot understand science. No matter what you say,
00:33:06.380 it doesn't make you a woman, it doesn't make you a woman. So you and your minions and all of the
00:33:12.820 people who are so woke, you can go ahead and try to educate me all you want. You're a dude and dudes
00:33:21.460 shouldn't be in the female locker. You know why? Because it has the word female on that door,
00:33:31.340 male on the other door, and you only belong in the male locker room. Now this is a really a problem
00:33:43.440 because Lifetime Fitness is, you know, a lot of moms go to Lifetime Fitness because they have, you know,
00:33:51.780 people there that can watch your kids. Well, I don't trust my kid. My wife wouldn't trust
00:33:55.960 our little kids in a place where they can't tell the difference between a man and a woman.
00:34:01.460 No, and I don't trust that you can find the difference between a problem and a non-problem.
00:34:12.520 Now, the great state of Missouri is doing something about it. Andrew Bailey is with us. He's a Missouri
00:34:18.940 attorney general. So what's the story? This is what happened in Missouri. Andrew.
00:34:26.040 Yeah, absolutely. Thanks for having me on. This is a public safety issue. It's not some
00:34:31.520 academic exercise in diversity. There are real lives at stake here, and there are women who are
00:34:37.540 concerned about their safety and well-being and their privacy in this female locker room when
00:34:43.660 there's a male present. And at the end of the day, in the state of Missouri, if that male did not have
00:34:49.280 permission to be in that female space, that's a criminal trespass. Secondly, if the gym gave
00:34:56.020 the male permission to be in the female space, then that gym is liable to the customers that it
00:35:01.280 didn't warn that they weren't going to have gender-excluded restrooms and locker rooms.
00:35:06.440 In other words, the gym has a duty to inform its customers and prospective customers that they're
00:35:13.140 going to allow men into women's restrooms. And if they didn't do that, that's a consumer protection
00:35:17.340 issue. So the state is absolutely taking action. And I agree with you. This is the nadir of depravity.
00:35:23.360 This is as low as our culture could possibly go. And I'm sick of being lectured to by the left when
00:35:29.060 I am smart enough to understand objective reality. Gender is an objective reality, and it is unhealthy
00:35:35.060 to deny objective reality, even if you disagree with it, in the same way that it would be unhealthy
00:35:40.380 for me to deny the law of gravity and then try to jump across the Grand Canyon. Objective reality
00:35:45.800 exists independently of our minds, and it's not beholden to the precious whims and fashion statements of the
00:35:51.400 left. You know, however, I'm wondering if we can get some of these college professors and
00:35:58.320 geeks that are telling us that up is down and down is up, I'm wondering if we could get them
00:36:03.540 to believe that gravity is subjective and you could just jump off the cliff. I mean, I'm just saying,
00:36:12.620 it might be, it might teach the first couple of people a permanent lesson, but maybe the rest of
00:36:18.140 of them in line would go, you know what? I think there is something as objective reality. You're
00:36:23.680 right. You're right. We should stop messing with this. It's insanity. And I think everybody started
00:36:29.660 doing it because they were just, you know, okay, I just want to get along. I don't want to hurt
00:36:33.580 anybody's feeling, but this, where is anyone standing up for women and children? All of a sudden we've
00:36:44.600 just lost, we have women being beaten, you know, in the boxing ring by men. That's crazy. Here's a
00:36:53.660 very safe lifetime fitness facility that, you know, where women trust to go in. They can bring their
00:37:02.080 children, they can be safe and they don't really care. They're not protecting. They're just being
00:37:07.720 politically correct. So what are you, how are you suing them? Suing them? Yeah, we are conducting
00:37:16.120 an investigation from a consumer protection action and have filed subpoenas demanding to know
00:37:21.360 which customers they have or have not informed about these terrible and, you know, misguided policies.
00:37:27.780 But I'll tell you, I've been on this issue from day one. I mean, back in shortly after I became an
00:37:33.380 attorney in 2015, 2016, I prosecuted the leading case in Missouri where a convicted sex offender
00:37:39.240 was in a women's restroom, disguising his voice as a female. And he wasn't there, you know, to express
00:37:46.460 some diversity viewpoint. He was there to perp on victims and create new victims. And there were
00:37:51.860 women who had gone into that restroom and were concerned and were victimized by his very presence.
00:37:56.260 And so I prosecuted him and that's now the leading case. And again, informing our local law
00:38:00.780 enforcement and prosecutors that that is the law of the land and that we can use that law to protect
00:38:05.020 women and girls. I think it's really important work that we're doing right now at the attorney
00:38:09.420 general's office to fight back against this kind of nonsense. You know, I'm reading a letter to the
00:38:14.700 CEO of Lifetime Fitness, Baram Akraty, and he wrote, Dear Mr. Akraty, it's come to my attention that
00:38:24.400 Lifetime Fitness has proudly adopted a policy that permits biological men to use locker rooms
00:38:29.440 designated specifically for women and young girls. Even more concerning is the fact that instead of
00:38:34.040 taking the safety concerns of your gym members seriously, you rudely corrected them and insist they
00:38:39.820 call this biological male by the correct pronouns. While it might be considered fashionable in certain
00:38:45.180 corporate boardrooms to pretend that biology is irrelevant, the American heartland still believes
00:38:50.600 in reality. Amen, brother. Missourians recognize that allowing adult men to openly invade and disrobe
00:38:56.940 in spaces set aside for women and young girls is indefensible and places political correctness
00:39:02.280 above public safety. That is why, underline, I am putting you on notice that you are under
00:39:08.420 investigation. In Missouri's leading case in this issue, which I personally prosecuted, the court
00:39:14.300 confirmed that a male's presence in females' public restrooms constitutes criminal trespass. When
00:39:21.860 restrooms are separately designated for males and females, only one is permitted to use the restroom
00:39:27.900 designated for his or her gender. So that is just saying that they have to announce that they're unisex,
00:39:36.560 right? Yeah, that's right. If they want to, if they want to allow men into women's locker rooms, they have to
00:39:42.960 tell their customers that. And then their customers can decide to take their business elsewhere. And I think we've seen
00:39:48.100 over the past couple of years how that has impacted the marketplace. Look at Bud Light, look at Target. When they
00:39:54.280 started pushing this radical, woke agenda that, again, puts women and children at risk, women and young
00:39:59.560 girls at risk, the market retaliated. And consumers said enough, we're not going to put up with it. I think
00:40:04.480 the same thing would happen here.
00:40:08.220 Well, I can't thank you enough. I think this is very good news. My wife and I were talking about it,
00:40:13.040 and she's like, I just signed up for Lifetime Fitness. And she's like, I'm just about now I'm going to
00:40:18.120 unsign up for Lifetime Fitness. This is these Minnesota boardrooms bringing this crap down
00:40:26.240 into the rest. I mean, if that's what you want, you know, go ahead. Fine. But all Americans, all women,
00:40:33.360 all families should know that Lifetime Fitness will put woke policies over the safety. And quite honestly,
00:40:43.040 you're just feelings and sensibilities. Everybody's worried about everybody's feelings and sensibilities.
00:40:49.580 Well, what about those of us who still believe in actual science? What about us? What about us?
00:40:57.320 Thank you so much, Andrew. I appreciate it. This is the Attorney General of Missouri, Andrew Bailey.
00:41:02.680 God bless you, sir. Thank you, sir. God bless you and your listeners. Talk soon. Yeah. I got to tell you,
00:41:08.040 Pat, I mean, why is it that they're so open to everybody? Unless it's like Nancy Pelosi. Nancy
00:41:18.460 Pelosi, you know, whatever Joe wanted to do, but we couldn't have him be the candidate. But whatever
00:41:25.280 he chose, you know, to do, I would support unless he wanted to stay in the race. I mean,
00:41:32.420 then there's no real choice there. There's no real choice.
00:41:35.540 And these supposed champions of women and women's rights don't care at all about how women feel
00:41:44.100 about an actual man in their locker room. I never understand that. And it happens almost every day.
00:41:51.680 You can have a transgender bathroom. You could have a transgender boxing Olympian
00:42:01.840 that is in the transgender Olympics. That's fine. But think of, you know, when that second boxer
00:42:08.720 lost this weekend, I thought, think of their dreams. As a kid, they thought they could win a gold medal.
00:42:20.360 They were in it. They worked hard their whole life. And at the last minute, a guy who has the
00:42:27.480 biological advantage on them completely changes the rules and punches them in the face and their
00:42:35.960 dream is dead. How many little girls are watching that going? I can't compete. Yeah, that's why.
00:42:42.860 That's why we have the girls league in the first place, because little girls were told you can't
00:42:48.620 compete. So you can't play the sport. That's why we developed the girls league. So everybody could
00:42:55.900 have a shot. And now it's just men. It'll just be dominated by men again. Yeah. And, and the rule
00:43:04.260 that was set up in 1972 for women in this country for collegiate sports title nine, even that is,
00:43:12.820 has really been tossed out the window for transgenders, uh, with, with the Biden administration
00:43:19.360 insisting that, that trans women be allowed into women's sports. How, how can you uphold title nine,
00:43:27.460 which is all about women's sports and then allow men in the women's sport? It's incredible.
00:43:33.640 Because they say that they are now officially women. Yeah. You choose to be a woman. That is so
00:43:40.360 insulting. It is. It is so insulting. It is. If you got a noodle, um, for my money, you're not,
00:43:48.100 you're not a woman. Any noodle is disqualification for women's sports. Really? I'm a little picky
00:43:53.880 about that. If you're noodle, wait, wait, wait, wait, wait, if you're noodle-less. So in other words,
00:43:57.800 you had a noodle, but, but you remove the noodle. No, because there's also something inside of you
00:44:04.200 called chromosomes. And if you still have, you know, the XY chromosome, uh, it's still a stick.
00:44:13.240 I'm a stickler on that one. It's still a sticker. Really? Yeah. Really? Yep. Why? He doesn't have
00:44:17.400 a noodle. I thought it was a noodle problem. Well, it's a noodle and a chromosome problem. Okay. So
00:44:23.540 because you might have, what you're saying is you might have testosterone. You might,
00:44:26.880 you might have bigger muscle mass, et cetera, et cetera. Bone structure. Okay. I hear all of
00:44:32.520 the hand-eye coordination, weight to height ratio. A lot of differences there. I got your bigot. Yeah.
00:44:37.580 No, I have your bigot. Thank you very much. You know what? That's how you have to handle it too.
00:44:41.600 Just, just blow it off. Just whatever. Cause you're right. You're right. Science, uh, has proved you
00:44:50.260 right. This isn't a religious thing. This is science. And when you're taking a shot against
00:44:57.960 me, you're taking a shot against science. I just want to say that too.
00:45:01.080 Na, na, na, na.