Best of the Program ｜ Guests： Rep. Chris Stewart & Carol Roth ｜ 2⧸25⧸22
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Summary
On today's show, we go over everything that's going on in Russia and Ukraine, including the tragic news of the loss of 50,000 people. We also hear about the recent thawing of the soil in Russia, and the potential impact on global warming.
Transcript
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welcome to the podcast on today's program we go over everything that's going on in russia and
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ukraine yeah and we go through that including the real tragedy the the true don't don't bring it up
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let them hear it themselves they're gonna it's i know but i don't i think you you're gonna have a
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shock don't have it don't have a double shock you're gonna go into morning and then you'll
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hear the podcast and you'll go into morning again it is shocking horrifying and a true
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the true tragedy behind ukraine we also have uh chris stewart is on the program today talking
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about the cyber threat we have carol roth on the economy pat gray is with us it's great show
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don't miss it go to blaze tv.com slash glenn the promo code is glenn to save 10 bucks off your
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subscription to blaze tv and this podcast available every day of course rate and review it five stars
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is the appropriate number of stars studios america also available five days a week don't miss that as
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well and you have a new uh show today as well glenn yeah i have a new uh friday exclusive gonna go
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over the clips kind of a leftover show all the clips we didn't get to this week some really funny stuff
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you're listening to the best of the glenn beck program
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we welcome pat gray yay hello pat hello glenn oh my gosh hey so good to see you good to see you
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yeah hey i've been weeping most of the morning though oh no oh no no no you didn't hear i did
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oh my gosh we wept openly as men we broke down and we wept openly all of us in the studio
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i had to put my car over yeah i was listening i heard the news from you when i heard that the fourth
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year in a row joy behar may not be able to go to italy it was too much it was you know she's had
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a tough four years first of all it was a pandemic yeah and now you know if i don't get to italy
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every third weekend or so yeah right i get out of sorts yeah so four straight years can you imagine
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i you even imagine play the play the audio the stunning stunning sad audio from joy behar yesterday
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well i'm scared of what's going to happen in in western europe too yeah you know you just you plan
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a trip you want to go there i want to go to italy for four years i haven't been able to make it
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because of uh the pandemic and now this you know it's it's like who's gonna what's gonna happen there
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yeah yeah it's a gut punch it is nobody calls her out on the set they're all like yeah wouldn't you
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wouldn't you if you were having that conversation with somebody wouldn't you go are you drunk yeah i
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mean did you just hear 50 000 people are going to be dead and you're worried about your vacation plans
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yeah and they do to be fair they know she's drunk i mean every day so they don't maybe they don't
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are you sober are you sober joy what is happening to you so embarrassing you know these people are
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killers they really are well wait no no no joy i mean she's she's a killer of joy but yeah uh no no
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listen i mean generally speaking the people who are this crazy
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john john john carrey he he he really is concerned about uh this war because of how
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it will affect global warming he not his own private chat he's not concerned about that no no
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we're not talking about people who see people and individuals they he's willing and forget about
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those people what about global warming forget about those people what about my vacation that's
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sociopathic behavior for it is yeah carrey's defense though he did bring up a great point about northern
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russia and the fact that 66 percent of the soil is frozen and now it's starting to thaw and you don't want
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that because you might be able to grow extra food and then somebody might poison those food stocks
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since when is it bad if the soil thaws i mean would that be a terrible thing yeah and like you
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could care in russia that oh it's not frozen anymore like maybe you argue that it's going to get warmer
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somewhere else and but like i don't think russia cares like i think they're pretty excited about
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as long as it doesn't affect the average farmer's ability to get to italy right well yes obviously
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you know that's the most important thing in a private jet yeah we have to save the climate effects
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of of this war so that we can make sure we continue to fly on our private jets to italy
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if you can only do that can i can i ask you um has the world ever been this confusing ever i don't think
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i mean i don't understand anything that is going on we're buying oil from russia we we upped our order
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of oil by 623 000 barrels of oil from russia here to the united states last week we say we're going to put
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sanctions on russia uh and really cripple them you want to cripple them you stop the ability of russia
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being able to sell oil and at the same time what are we doing we're making a deal with iran so maybe
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iranian oil can get out and and ease the suffering what turn the oil pipeline on start fracking what the
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hell is wrong with there it's i think i said yesterday i don't think we understand vladimir putin's
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real motivation i don't think he's great do you think he's crazy no do you think he's crazy
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i mean no no i mean he's a psychopathic killer right yes okay he's joy bay he's he's logically
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getting to that goal though correct he's using logic and planning and yes calculated nature to
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get himself to those goals it's not that osama bin laden was crazy we just didn't understand nor can
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we think like him okay that's vladimir putin and i don't understand his motivations and without
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understanding his motivations you can't fight him okay honestly what are the motivations is biden senile
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or does he have a different agenda yes and yes right yes yes yes yes yes i mean you can't be this
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wrong all the time it's been every single time he's wrong yeah and they still spin it as if it's
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great they're doing the best job that's ever been done um no mistakes have been made right remember
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afghanistan he couldn't even admit a mistake in afghanistan that's incredible and there's this
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there's this kind of jim garrity wrote about this this week the concept of mirroring when you're
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talking about uh foreign affairs where like you just assume the person you're dealing with
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has the same sort of motivations generally speaking as we do and that's completely insane when you're
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dealing with kim jong-un or president xi or vladimir putin or biden and the biden administration
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i mean honestly guys you you cannot be this wrong all the time how is it we didn't say how let me play
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this please play uh cut 13 as we respond my administration is using the tools every tool
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it's supposed to protect american families and businesses from rising prices at the gas pump
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you know we're taking active steps to bring down the cost and american oil and gas companies should
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not should not exploit this moment to hike their prices to raise profits you know in our sanctions
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package we specifically designed to allow energy payments to continue we are closely monitoring
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energy supplies for any disruption did you just hear what he said
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in our sanctions we clearly made a path for what did he say the uh play it again listen listen to what
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he says about the sanctions we're taking active steps to bring down the cost and american oil and gas
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companies should not should not exploit this moment to hike their prices to raise profits you know in
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our sanctions package here it is specifically designed to allow energy payments to continue stop we allow
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energy payments to continue we are still writing checks for russian oil in our sanctions wow we made
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sure that we could continue to write checks to russian oil so don't you dare american companies raise
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your prices on gas that's insane that's insane it is no nobody even noticed that i haven't heard
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anybody notice that anybody comment on that and incredible before biden i'm pretty sure we were
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getting zero oil from russia we had eliminated uh imports from russia and venezuela and all the bad
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factors in the world we were energy independent and we were exporters for the first time in a really
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long time i mean it's only been recently that we started exporting oil again i think it was the 50s the
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last time that that happened and it was because of trump's policies he was oil friendly let's let's
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let's use our own resources did you see mark andreessen what he said no yesterday mark andreessen came out and
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he said um we should be planning i think he said like 200 nuke facilities in the united states yeah he
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said right now i think he said a thousand nuclear plants need to be built worldwide yeah we should
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be building right now yes and he's right but we should yeah we won't we won't and why won't we
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why won't we because of the environmentalists why is it left why is it everything has to be
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crippled here why would we ever ever make a deal with iran so iran could sell oil on the open market
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i mean even if you believe that uh you know all of the fossil fuels have to stop right now okay
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they have to stop you're the president of the united states of america we have the ability
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to be a mass exporter but you're willing to make a deal with a terrorist state
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wait a minute the oil is going to go out anyway the oil is going out it's going to be burnt
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we would rather do business with a terrorist state and vladimir putin than open the spigot up
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here in america how is that the president of the united states how is that a guy looking out for the
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average american for the american way of life you're putting more money into the hands of people who are
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now saying to you yeah poland's next uh they're saying that to you and if not they're saying
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uh we have to destroy the great satan incredible especially on the heels of this where
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energy payments from europe and and us as well but largely europe have funded a rainy day fund for
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vladimir putin and all of his oligarchs to the tune of hundreds of billions of dollars so that
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our sanctions won't do anything in this moment so now we're going to create another regime where
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we're going to fund billions and billions of dollars uh and and have all that money go to them
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so that when they decide to start their next crisis they're shielded as well and may i just say
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i hope and pray i'm not inconvenienced further by having to detour my plans to go to taipei taiwan
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uh because china sees what's going on in russia and then takes that bold move to to take back
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uh taiwan you have the time share there i i have the time share and if i can't use it this year yeah
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i'm gonna be you haven't been very put out you haven't been able to use it since uh 2019 right
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that was the last time i was in taipei soon yeah and you're still paying those maintenance fees yes
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every year every year every year the suffering suffering just continues just doesn't stop
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oh my gosh stop well thank you pat for being here thank you you know thank you for understanding my
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pain i know well i almost didn't come in today because of it i know i can't so worried about
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my taipei trip and congratulations on the bravery that you uh showed this morning on pat gray on
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leash when you openly wept thank you for noticing that many people might be embarrassed by something
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there's not enough not me there's not enough examples of weak and pathetic men in our society
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isn't that the truth you know what i mean right if we could just i'm a little offended by you calling
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me a man as a matter of fact well i understand you're gonna say you're offended for being called
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weak and pathetic but no no it was the man it's a man part no it really bothered me yeah it really
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did the binary thinking there really pissed me off well there's no salvaging you anyway because
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you're white that's true so and an american that's true anyway thank you so much pat for
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you're listening to the best of the glenbeck program
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we want to uh bring in daniel turner he is the founder and executive director of
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power of the future uh and we're going to talk a little bit about the things that maybe
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we should be doing right now daniel welcome to the program oh it's great to be on with you glenn
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thanks for having me you're you're welcome i don't know if you saw uh mark andreessen's tweet yesterday
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but he said we should be building a thousand uh nuclear plants all around the world starting today
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we're not going to do it but there's a lot of logical things that we should be doing
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today one of them is get off our dependence of russian oil yeah absolutely i mean a lot of the
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problems that we're experiencing right now um have begun 14 months ago with the biden administration
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and i'm not pinning the the ukraine invasion on him but i am saying we've been tinkering this
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administration has been really punishing the the america's energy industry is specifically the
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fossil fuel industry for months and months and when oil hit 70 a barrel and 80 a barrel
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the white house was silent well now it's at 100 and joe biden's saying he wants to do something so
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it's a little bit too late uh you know energy is one of those issues that people don't want to pay
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attention to until it starts to uh pinch at the purse right yeah exactly but you know we we need
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serious energy policy and not greta thunberg not john terry right we need serious energy policy because
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it is national security as well i i just i keep hearing him say we're going to tap into the uh strategic
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oil reserve hang on just a second we on one hand people are talking about world war three and the
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biggest conflict possibly since world war ii oil was kind of important that's why we have the strategic
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oil reserve and so we're he's telling the west we should release more from our strategic oil reserve
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while we're facing this no open a freaking pipeline yeah oil is so important to the world economy that
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even this administration has not sanctioned russian oil germany uh and italy today brought more natural
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gas than they did yesterday from russia in fact putin has increased the amount of natural gas exports
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because he knows he has europe on on the hook and and he's using that to his leverage
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and so look you know we have to stop being plato there is this ideal world we all need to leave up
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to live up to it um and we all need to be better but the reality is our economy our military the world
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runs on fossil fuels right now and whether or not we want to change that as one conversation but the
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reality is punishing fossil fuels now in the hopes of a better tomorrow has made us weak now and vladimir
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putin is taking advantage of that weakness this is uh this is exactly what the great reset is about
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the esg scores energy and is the first uh is the first thing and we are we're committing national
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suicide and it's not just national the entire west is committing suicide and i don't understand it
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and is that an is that a is that hyperbole no not no not whatsoever and and look when this
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administration began and joe biden said uh which i believe is a flat-out falsehood but when he said
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the generals tell him climate change is our biggest national security threat i'm sorry if anyone really
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said that to you in the military that person should be should be fired today and any politician
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republican or democrat this is not a partisan issue many republicans went to the glasgow climate
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summit to learn how to tackle climate change we can have a conversation about the environment but if
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you genuinely believe in your heart of hearts looking at the global stage that climate change is the
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biggest threat then you do not deserve elected office you are a danger because russia is a threat
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china is a threat iran is a threat north korea and and these rogue regimes unfortunately as the prices of
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oil have gone through the roof have become richer and what does iran do when they have more money
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they launch attacks on israel and and they launch attacks on the uae and they fund their nuclear bombs
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program and what does russia do when they have more money they build their army right so again it's it's
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this i this fight against reality that you can have a conversation about the environment but there are
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real threats and we need to put on our big boy pants and face the real world we live in even if you if
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you believed that um climate change was the was the existential threat and the largest threat against
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uh all of humanity if you really truly believed that um and you make the moves to stop american oil and
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everything else does that explain why we are um not sanctioning the russian oil we're increasing our
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imports of russian oil and we seem to be making it easy for iran to flood the market with their oil i i don't
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understand this why wouldn't you go to america and just say hey it's temporary but we're gonna we need
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you right now to relieve the pressure i i don't understand it you know for the first time in in
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nearly 40 years america has been purchasing iranian oil um very quietly the administration clearly did not
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put out a press release but you say why is america buying any oil from from russia wait wait wait wait
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when did that happen i've not heard that started in april started in april of this year and we've
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we've purchased about a million barrels of oil from iran now there's going to be an argument and
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they're going to say i'm playing fast and loose with the nuance because we purchase a lot of oil
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from the world and we refine it particularly in the gulf right we have the world's largest refining
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capabilities also something china's trying to compete with us on but that's another conversation
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but we are the world's largest refiner so this crude that comes out of the ground has to get
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refined so we buy russian we buy venezuelan but we don't need to buy any oil if we produced enough
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ourselves and we're not we're producing two million barrels fewer than we did just a few months ago before
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biden became president and the reason why we're producing so much fewer oil is because this administration
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has made it impossible to produce they've punished you mentioned the esg movement every agency is
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looking at climate change when it comes to permitting land access permits in the gulf of mexico on federal
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land fracking moratoriums pipeline construction so all these cumulative actions have made production
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of oil domestically hard of course we have to get it from somewhere else so why not russia why not iran
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why not venezuela why not put a bullet to our head because that's what we're doing by enriching our
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enemies let me ask you um when obama said that he was going to stop the drilling uh i think it was in
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the gulf um the deep sea drilling uh the concern was that if you stop that you're not getting a lease
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on those deep sea drills for another 20 years they're not coming back and you just don't make them
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overnight with the damage that has been done just to the economy uh and to the oil and gas industry
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are we doing permanent damage or are these things just going into mothballs and we can turn this
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around quickly we can turn it around but i don't think quickly uh this is a very capital and labor
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intensive industry and even if all the permitting is is in place and the government is a friend of
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the industry which we want like we saw under president trump it really took till the end of
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2018 the beginning of 19 for the industry to produce as much as it was and so it did take it two solid
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years of of uh believing that the government wasn't going to punish you uh you know you look at something
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like keystone that was 10 years and and a billion dollars in the making and then the rug was pulled
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out from under it and all that money is lost so who's going to invest in the oil and gas industry
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right now if you think the government can shut it down and that's one of my pet peeves glenn and you
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can hear my voice getting angry oh i know jen saki will say well you know oil at 90 a barrel you would
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think these rich fat cats would invest it's not that they don't want to invest it's that they know
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it's a risky investment because government is going to punish you deb holland the interior secretary is
00:23:46.900
going to punish you the epa administrator biden is talking about fed nominees who look at banking
00:23:53.020
issues through the lens of climate change so if you need a 50 million dollar loan from the bank
00:23:58.040
to finance this industry no because the bank's not going to lend it to you because the federal
00:24:04.340
reserve is going to raise your base points and penalize you so again the this administration is
00:24:10.760
punishing the industry from every angle and then they have the gall to say well they better not
00:24:17.020
raise prices to take advantage of this like it's our fault when elizabeth warren blamed big meat
00:24:22.680
remember that one yeah she said all the meat industries together yeah i mean it's just it's offensive
00:24:27.480
i uh i i i will tell you i i don't understand what's happening to us um unless the president in this
00:24:39.840
administration and those on the left have an agenda that is clearly not in step with the
00:24:47.700
traditional american um they i mean this is this is self-inflicted wounds and they're soon going to be
00:24:57.440
mortal um what do you what are you thinking what are you thinking about uh the gas and oil prices
00:25:03.900
and uh and what's coming with this this war in in ukraine yeah it's down a little bit today which
00:25:13.000
is good news but i think overall if this continues and i don't think putin is going to uh stop until
00:25:20.660
he has everything he wants in the ukraine and maybe even more you could easily see gas at 150
00:25:26.760
a barrel like it was in 2008 um you mean 125 by the end of march is is very feasible and that means
00:25:35.020
six and seven dollar gallon of gas but you know you know your audience knows there are millions literally
00:25:41.760
millions of products that are made from from fossil fuels and so when the price of fertilizer goes up
00:25:48.300
when the price of pesticides go up everything gets it goes up in price and so when you go to the store
00:25:54.080
and you buy your chop meat and it's expensive it's the cow the cow's diet the transportation the
00:26:00.080
butcher the slaughterhouse the packaging the plastic all of that stuff gets added onto your cost you're
00:26:06.420
ultimately the one going to suffer and that's the frustration this administration before putin even
00:26:12.240
launched his first incursion this administration was willing to let the american people suffer because
00:26:19.120
they are so eager for this green revolution these renewables that they had to punish fossil fuels
00:26:25.460
they wanted fossil fuels to be the bad guy so that maybe you would go to the government and say please
00:26:31.300
mr biden please give us a green new deal please give us a build back better we can't afford this anymore
00:26:37.260
and and that's that's the really sad thing they were willing to punish the american people for their
00:26:43.140
agenda and and that's not just an american unpatriotic quite frankly it's immoral and it's evil
00:26:48.460
yeah i agree with you daniel thank you so much uh the founder and executive director of power of the future
00:26:54.660
uh daniel turner i am surrounded by a new family of people who have their life back because of relief factor
00:27:02.960
uh i'm one of them i was uh uh in pained and got to the point to where i just i couldn't do it anymore
00:27:10.540
anybody else feel like you know i just i can't get up another day um we have our life back because of
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relief factor it's not a television commercial it's uh it's a group of real people with real results
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that had real pain try it yourself relief factor this guy when he started completely bald look at him
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doesn't do anything for your hair but but it will help you get out of pain give it a shot try the
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three-week quick start doesn't work move on but we're here to tell you it works relief factor.com
00:27:50.560
carol roth is uh joining us carol i have so many questions for you today how are you i do well
00:28:10.200
some of them i'm not going to be able to answer because insanity but we'll do our best to muddle
00:28:16.300
our way through this okay can you at all give us a uh a common understanding of what swift is
00:28:23.460
so the best way i can explain swift is a clearing house for the messages about transactions through
00:28:33.180
the international banking system um to kind of dial it back to the u.s if you send a wire transfer
00:28:40.320
between banks in the u.s you have a special code if you do it internationally there is a swift
00:28:46.020
code and that entity acts as that sort of clearing house between the banks to say oh you need to send
00:28:52.580
money from one place to another so basically cutting off russia or anybody else means that you don't get
00:28:58.840
to sort of participate in the global banking system in a very rudimentary sort of explanation right and
00:29:04.980
that is important again take it down to the baby level but that's important the reason why you would
00:29:09.360
wire transfer something is because if you write a check uh it's going to have to sit there and be
00:29:15.260
verified for funds and everything else if you are doing big business you're just moving things
00:29:20.580
quickly because you need that transfer to kick in right away correct true except for internationally
00:29:27.460
it often can take a day or more to clear but it is again that sort of middleman that international
00:29:34.320
clearing house it's based in belgium um for all of the international financial movement if that makes
00:29:40.480
sense okay and uh europe according to joe biden didn't want to take that step yet so they didn't
00:29:47.360
see yeah well of course they didn't because you know they're getting if it's your germany you're
00:29:52.420
getting 40 percent uh of your oil from russia so they understand um the precarious position they're in
00:30:00.400
and i'm sure they put a lot of pressure on joe biden and saying listen you know we can't afford it and
00:30:05.900
you know by the way geniuses you don't have the exports now now that you're no longer energy
00:30:11.500
independent to be able to help us out here so what are we going to do and i imagine those were the
00:30:16.340
types of discussions um happening behind closed doors to have a very weak set of sanctions put out
00:30:22.460
against russia so joe biden says that the sanctions that he did put on are just mind-numbingly
00:30:30.220
crippling for uh putin and russia how would you describe them well he actually had somebody
00:30:37.800
within his administration one of the members of the economic council that said they weren't meant to
00:30:44.140
disrupt the flow of energy and uh you know basically completely contradicted that so they seemed um kind
00:30:52.200
of like everything the biden administration has done much more for show than for any sort of actual
00:30:58.360
impact if you wanted to have impact um you know not only would you have put that pressure in terms of
00:31:03.660
taking russia out from swift maybe putting sanctions on putin themselves disrupting energy i mean really
00:31:09.080
getting serious and um you know certainly none of that transpired so i mean to hit uh putin where he lives
00:31:17.320
and to really destroy russia the best thing to do is be an massive exporter of oil um and drive the price
00:31:27.820
of oil you know at least below 80 a barrel because that's what it that's that's where they make money
00:31:34.600
is 70 80 a barrel anything over that so drive the price of oil down cripples him or cut him off if you
00:31:42.180
don't do that it's like it would be like we're going to sanction glenn beck he can make money in
00:31:48.280
broadcasting but no ballet dollars are coming his way yeah it would be like telling me oh well i'm sorry
00:31:56.080
carol you can no longer eat the cauliflower i'm so so sorry that's going to devastate me on my diet
00:32:03.740
yeah i mean the reality is if you look at the russian economy about 60 percent of their gdp
00:32:09.740
comes from the oil and gas exports so certainly anything that disrupts that whether it's disrupting
00:32:16.660
getting payment for that driving down the price overall or just not allowing them to be able to
00:32:23.300
export it all of those kinds of things would be devastating and we have seen brave people in
00:32:29.700
russia who were marching in the streets saying we don't want any war if things are getting worse
00:32:34.940
there economically those voices are only going to get louder so that would you put that um feeling out
00:32:42.060
to the world that joe biden was serious and that he wanted to really take a stand and would make other
00:32:47.840
countries potentially think twice about things they might want to do like you know china invading taiwan
00:32:53.360
uh unfortunately we did not see that uh so what happened to the stock market yesterday i mean
00:32:59.280
you hear you listen to the president and he is saying there's going to be real pain from the american
00:33:05.300
people uh they're gonna they're gonna really have price increases disruption of all kinds of things
00:33:13.160
maybe even a cyber attack the biggest war possibly since world war ii um and uh he's going to try to ease
00:33:23.140
the pain and the stock market goes up is that because a the people on wall street know this isn't this is
00:33:34.720
business as usual or b the fed just buying up more stocks and there's no reality anymore in the stock
00:33:44.560
market uh as the meme says glenn why not both um it's it's a little bit of each of those i think there
00:33:53.360
was an expectation that these sanctions were going to be somewhat worse and that that may escalate um
00:34:00.740
conflict and or um you change the ability to get some of the key exports and increase the prices of
00:34:08.080
those and and russia has many of them not only oil and gas but aluminum um you know uh wheat and and
00:34:14.620
other things so the fact that joe biden was weak the stock market goes oh he's not really serious and so
00:34:20.260
there's part of the rally on that the fed piece of it is that there's this expectation for rate hike
00:34:27.220
coming up um in march in a couple of weeks and the prior to yesterday the expectation was that there
00:34:34.620
was going to be an increase of 50 basis points which is half a percent um and with the conflict
00:34:41.500
you know potentially ongoing stretching out you know that gives the fed a little bit of cover to say
00:34:47.020
well it's you know uncertain we're not sure how that's going to play in you know yada yada yada um
00:34:52.220
and that maybe that means there's only going to be a 25 basis point or a quarter of a percent
00:34:57.660
increase but whatever it is it gives the fed a little bit more cover whether it's in march or for
00:35:03.440
the rest of the year to slow play taking away their their monetary support from the market which the
00:35:10.060
market loves so i think you have a little bit of both of those yes this is you know i i've i've never
00:35:16.440
understood uh more than now the shakespeare line all the world is but a stage um i feel like every
00:35:25.800
day we're watching a show he's he's telling the american people this is really going to hurt you
00:35:32.280
um and we're going to pay a high price at the gas at the gas station and don't you oil producers
00:35:38.920
charge extra and gouge people at this time while he's buying more oil this week from russia than we
00:35:47.500
bought the week before and we're making it easy for iran and buying iranian oil as well this is none of
00:35:57.440
this is real no it's so frustrating i mean joe biden has some levers he could pull to do a 180 on the
00:36:05.400
economy um certainly returning our energy independence uh firing up those oil and gas
00:36:11.860
leases returning to the keystone pipeline all of those kinds of things he could do a 180 on and it would
00:36:18.360
be very well received uh the average american would benefit from it and you know just from a even if
00:36:25.140
you're somebody who's is climate change and you know i i'm focused on green the reality is that that oil
00:36:32.200
is getting produced anyway so would you rather have russia or iran be the ones that are producing
00:36:38.200
it or would you rather have the technological leader of the united states do it in a manner where
00:36:43.460
we know there's a focus on making it more clean and more green so it it fundamentally doesn't make
00:36:51.120
any sense um other than some of the wonderful things that you've presented in your book on the
00:36:56.580
great reset that everybody should read about if they haven't already so carol is all of this
00:37:02.960
this excuse of uh ukraine are are we just being played on this with energy prices are the energy
00:37:12.280
costs going to go up because of what we're doing um you know with esg and cutting the financing of
00:37:19.780
of our own uh slitting our own throat or is this ukraine thing actually playing a role
00:37:27.760
so i mean this has been going on um as we've seen for you know well over a year a better part of almost
00:37:36.280
two years now and the ukrainian conflict is just several days old so despite the media's attempt to
00:37:43.200
say oh this is the reason for it um obviously us bowing out of production um you know from some of
00:37:51.160
the decisions the biden administration made the canceling of oil and gas leases the canceling of
00:37:56.600
the keystone pipeline whatnot and also the esg pressure um that made it uh so that many of the the
00:38:04.820
companies that were involved in oil exploration and and whatnot um and refinements not want to
00:38:13.180
do as much of it over the last couple of years so there has been you know a lot of pressure
00:38:18.380
outside um both through government and through sort of this you know global esg fascination that has
00:38:26.280
depressed um the u.s's position and obviously that's put some um uh some some cricks in the in the road
00:38:34.740
here um as well as you know the opec oil cartel obviously they wanted to make up um for some of the
00:38:42.260
lost money that uh happened over the pandemic so you know they did not ramp up productions to the
00:38:48.140
level to meet demand so all of these things factor in as well as disruption in the supply chain you know
00:38:55.040
it's harder and more expensive to get the refined gasoline to the station i mean just so many things
00:39:00.900
that all snowballed together so so that has all created um a big issue and it's going to be an ongoing
00:39:07.240
issue whether or not this russia ukraine conflict can you know continues that being said uh if it
00:39:14.880
escalates yes it will have a further impact on top of what we're already seeing you know currently
00:39:22.140
you know we have oil that's over 90 a barrel you know it could go over 100 organically before they
00:39:29.960
probably start push you know pushing out more oil um if this escalates from a russia ukraine perspective
00:39:38.100
you could see 140 a barrel oil so it's very very meaningful in terms of that incremental amount
00:39:45.560
but it's not like without it we'd be at you know 70 or 60 dollars we see uh the price of fertilizer
00:39:53.260
300 300 increase that has something to do with natural gas um we have the any oil products um even
00:40:04.500
even um you know bug killers that you you put on your crops um wheat is going through the roof uh today
00:40:14.320
we are going to be facing some real problems at the supermarket in the next six to eight months
00:40:22.740
am i reading that right uh certainly i would say we are definitely going to be facing issues we have
00:40:32.100
been facing issues inflation is going to continue the question is is it a problem or is it a mega problem
00:40:39.560
but either way you should be prepared you should be prepared every day but you should be prepared for
00:40:45.140
this conflict to escalate um nobody's ever been sad about being over prepared usually happens in the
00:40:52.140
other direction so there are definitely steps that you can take today just to make sure that you have
00:40:58.020
your ducks in a row and what are those steps so on the energy front um you know simple things you we
00:41:04.740
don't know what's going to happen not only with the price but you know are there potentially escalating
00:41:10.460
cyber attacks that end up disrupting you our our own infrastructure you know if you i don't know if
00:41:16.100
you remember way back uh in the early days of the joe biden presidency he gave putin a list of here are
00:41:22.360
the critical things that are off limits for cyber attacks basically a roadmap of everything that they
00:41:28.520
should attack should there be an issue right uh so you as an individual should make sure you know with
00:41:34.700
your cars that you keep your gas tanks full that if you have the ability to store extra gasoline that
00:41:40.320
you have some some extras just in case not only the price goes up but we end up in a position
00:41:45.020
where there's some rationing you don't want to be caught in that position and as you and i've talked
00:41:49.560
about glenn before for your house have backup generators and other sources of energy and in case
00:41:56.780
there's an issue i know that i i take propane um and i called yesterday i just got a delivery i don't
00:42:05.120
know a few months ago um and i called them up and said could you please come out and tap my tank off
00:42:12.040
they said sure you're on a waiting list now this was yesterday they said the phones are ringing off
00:42:18.540
the hook you're heating oil everything you should get on a list now to get that full so you're paying
00:42:25.500
a this price and b if something happens you have a full tank hundred percent hundred percent um with
00:42:34.380
other supply chain issues same kinds of things both from a price increase standpoint and to make sure
00:42:40.520
you have extras in case of disruptions uh get the extra water get something that can distill down
00:42:47.240
your water and take the yucky stuff out um just in case there's an issue stock up on uh things that
00:42:54.160
are not perishable in terms of food stock up on medicine have an emergency supply kit all of those
00:42:59.640
things that should something you know kind of really go awry here a big escalation that you are prepared
00:43:05.620
um and then on the financial standpoint we were talking about the the stock market and being all
00:43:11.360
over the place this is the time when people who are not sophisticated investors tend to panic
00:43:17.780
and i want to give a quote from warren buffett whose politics i don't particularly like but boy is he a
00:43:24.940
great investor and his famous quote was always that investors should be fearful when others are greedy
00:43:31.160
and greedy when others are fearful so when you have those days where the stock market is going down
00:43:37.880
and companies that you like or the overall stock market you know is in that bad position that's the
00:43:45.240
time when you slowly start putting money to work and building up your positions or what we call dollar
00:43:50.940
cost averaging into stocks do not pull your money out of out of fear carol thank you so much god bless you
00:43:59.200
we will uh we'll talk to you again um carol roth kind of our our show's financial uh advice giver if you
00:44:09.320
will she watches all of this for us and helping the average person know what to do in these troubled
00:44:16.060
times carol roth the war on small business is the book