On today's show, we have a special guest on the show, Chia steward. We talk about his life on the road, what it's like being on medicare, and some funny stories from the past.
00:48:04.840And a great agent is the one who listens to you, knows the neighborhood, knows the market, knows how to negotiate without losing their cool or the house.
00:48:14.540A great agent can mean the difference between a smooth sale and a financial disaster.
00:48:20.260Real estate agents I trust is the fastest way to find that great agent.
00:49:49.100So what was put out yesterday is called the appendix, the classified appendix, the John Durham's final report, the special prosecutor who looked at Russiagate.
00:49:56.700This is something he couldn't release publicly because it involved highly classified intercepts that the United States government had.
00:50:03.260These intercepts are of Russian spies, the GRU and other Russian spy agencies.
00:50:07.580And this has been a very successful program.
00:50:10.340There are multiple ways we intercept the Russian spies.
00:50:12.940But over the years, we've used this to make very major decisions about Russia.
00:50:17.280So the information is deemed to relatively be reliable.
00:50:21.620In fact, James Comey thought it was so reliable for this program that he used information from this program to rush out and wave his magic wand and decide that on his own, even though he wasn't the attorney general, he would clear Hillary Clinton of wrongdoing in the scandal.
00:50:36.860Why? Because the Russian intercept suggested that Loretta Lynch was part of an effort to fix the case.
00:50:45.840And so we've acted on this intelligence over the years.
00:50:50.280In July of 16, Durham says, the United States government intercepted information saying that the Russians had found out that Hillary Clinton had developed a plan and personally approved it to hang a fake Russian shingle on Donald Trump's campaign house.
00:51:06.340Basically accused him of being a Vladimir Putin stooge, maybe be involved in the hacking of the Democratic National Committee computers.
00:51:13.800And it was deemed so credible that John Brennan ran and briefed Barack Obama.
00:51:19.300And then he briefed the entire senior leadership, Joe Biden, Barack Obama, James Comey, James Clapper.
00:51:24.620And, of course, John Brennan himself was the recipient of the information.
00:51:29.080So his agency did it rather than investigate it, rather than use it as a reason to be dubious when Christopher Steele walks his dossier in or Michael Sussman walks in his alpha bank baloney.
00:51:44.960They actually decide they're going to investigate these allegations as real, even though there was enormous reason to be paused.
00:51:51.100Now, in these information, there are purported emails in which someone in the George Soros world writes, hey, I just got told that Hillary Clinton is going to hang the shingle and the FBI is going to participate in it.
00:52:43.620Now, it doesn't stop them from continuing to investigate the bogus Russia collusion pact, but they decide that this intelligence is likely not fabricated.
00:52:51.940The CIA believes that it's likely predictive.
00:52:54.820Now, the way the program works, sometimes the Russian spies will fabricate in some way the detail.
00:53:02.220They'll make it look like it's an email, but it's really a summary.
00:53:06.960But what we generally know is whatever we get from the program is probably accurate, even if it's not an exact replica of an email or an exact replica of a text message.
00:53:16.720And so both the intelligence committee said there's likely the FBI said that this is not fabricated.
00:53:34.920They authorized the Sussman Alpha Bank stuff.
00:53:37.480They went out on the news media and tried to paint Donald Trump as a fake Russian stooge for Vladimir Putin when he wasn't.
00:53:46.180And I want to point out the most important evidence that the early intelligence people realized looked like the Russians either were fortune tellers or they knew and had intercepted a real plan.
00:53:57.040One of the early intercepts is that what's going to happen is they're going to Hillary Clinton has approved this plan.
00:54:02.740And then we're reaching out to Joe Biden for Joe Biden to take the lead on this.
00:54:07.080Within 24 hours of that intercept, Joe Biden goes out and he's the very first major Democrat to go suggest that Donald Trump's got a problem with Russia, that he's a stooge, and that he's going to be bad for America, and that he's owned by Vladimir Putin.
00:54:24.160How would they guess that and just know that that would happen?
00:54:26.380How would they know that, you know, the FBI was going to open up a case in a few days?
00:54:30.500So when the intelligence community looked back at this, the actual events of what played out with Hillary Clinton looks like exactly what the Russians knew in advance.
00:54:39.600And that's why they gave great credence to the idea that whether a specific email is accurate or not, the general information the Russians had intercepted likely occurred.
00:54:51.240So then why did Durham bury this stuff?
00:54:54.740Because what they're saying is they had all this stuff.
00:54:57.740Durham was, you know, this is under the Trump administration.
00:55:01.940Why didn't this come out if it was so real?
00:55:03.940This is just, they're just doing a hatchet job on, you know, Hillary and Obama.
00:55:07.860I mean, the New York Times said the reason why this is out is because he's trying to avoid his name being, you know, in the Epstein files or whatever.
00:55:59.640And I think now we see why it's significant, which is the FBI had a very good reason not to investigate Steele's dossier based on this intercept.
00:56:08.320It had a very good reason not to go to the FISA court and seek fake surveillance warrants.
00:56:13.420It had a very good reason not to bring the United States to the trauma of what we call Russiagate.
00:56:20.220And it's the same FBI that a few months more earlier had used the same Russian intelligence intercept program to take concrete action in the Hillary Clinton case.
00:56:28.620So when it's beneficial to a Democrat, they treat the Russian intelligence as real.
00:56:33.520And when it's detrimental to a Democrat, they try to dismiss it as Russian disinformation.
00:56:38.900History shows in the last few years when the New York Times tells you that something is true or not true on Russia, they've been generally wrong a lot.
00:56:46.080And when Democrats call something Russian disinformation like the Hunter Biden laptop, we should all be a little dubious.
00:59:12.220It is, because in no other time in history have we found a U.S. intelligence and FBI apparatus used to carry out a political dirty prick.
00:59:21.220Listen, they knew the Steele dossier was fake.
00:59:24.120They decided they continued to use it to spy and mislead the FISA court.
00:59:28.360They knew that the career officials of the Intelligence Committee didn't think Vladimir Putin was trying to help Donald Trump win the election,
00:59:35.020and they overruled them and rewrote the report.
01:00:19.920In past times, we've had a lot of abuses in the Intelligence Committee, things like we tortured people and we did things.
01:00:24.960Here, the abuse is the American people.
01:00:27.560The intelligence tools were used to carry out a political dirty trick designed to deceive the American public about who they elected and who they might elect.
01:00:36.420And I think that's why it's such a big scandal.
01:00:38.580You have to get to 30,000 feet to look at it.
01:00:40.720You can get into the weeds and then it gets complicated.
01:00:42.900But the FBI and CIA were used to deceive the American people and to potentially thwart the will after they elected Donald Trump.
01:00:51.480That's something we can't allow to happen again.
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01:02:19.500Even when summer and God has turned his back on, you know, this part of the world and you feel like you're in hell.
01:03:58.620You know, reading the New York Times take on this, they, I would say, are leaning harder into it's just not real.
01:04:05.200It's not, you know, it's more of that.
01:04:07.340One of the most shocking things in it is they claim they basically get mad at Durham for putting all of this in the annex because it showed that it because they were hiding the fact that this plan
01:04:22.280was likely Russian intelligence, which is, I guess, what they come up with as a summary of it.
01:25:30.140So we've had some really good news about the GDP growth this week, and we had a disastrous job
01:25:44.080report come out today. They have just revised the last two months, and we are down in jobs. And
01:25:53.940uh, to me, this is not, uh, well, I don't want to say this in just a sentence or two. Uh, next
01:26:03.860hour, we're going to start with the job report and talk to you about what I, what I think the
01:26:08.820truth is that nobody on any side in business or politics is willing to say, I'm just dumb enough
01:26:16.340to say it. We'll do that when we come back. It's Friday. This is Glenn Beck.
01:26:37.060Final hour of the, uh, week, Stu. Uh, what do we have to talk about? I, you know, I really want to
01:26:43.380talk about the, the job market, um, and the future here. We have to do that. What else have we missed
01:26:49.900today that we have to hit? Well, uh, today's a liberation day, part two also, uh, kind of ties
01:26:55.540into that conversation. Um, liberation day, part two. Yeah. That's all the tariffs and stuff. Uh,
01:27:02.440today's August 1st. Um, now the way they introduced those, we can go into this as well, is that actually
01:27:07.780they're not going to kick into August 7th. And then a lot of the stuff that is going to be hit
01:27:13.100won't actually be hit until October. Um, so, uh, you know, you know, the, the markets are reacting
01:27:20.800negatively, but like, you know, not catastrophically, uh, to, uh, not what everybody has been predicting.
01:27:27.940Uh, yeah. I mean, I, I don't know that I would agree with that. Exactly. Uh, I think it's, it's,
01:27:33.080you know, I think it's, I think it's somewhat appropriate, honestly, to the level that we're
01:27:37.480talking about where, you know, we're, we're talking about higher tariffs, but again, tariffs are a
01:27:41.300small part, you know, importing goods is a small part of our economy. Um, so it could affect that
01:27:47.280part, but well, hopefully the echoes aren't too large. Okay. More in a minute.
01:28:11.300Down the road where shadows hide, feel the dark on every side, stand your ground when times get tired, gotta face the dog and embrace the fire.
01:28:41.280The fusion of entertainment and enlightenment. This is the Glenn Beck program.
01:28:52.880Hello America. Welcome to the Glenn Beck program. It is Friday. Uh, we had some good news about the GDP this week up 3%. That's really good news. We had some, I think, bad news. The, uh, the Fed did not lower interest rates. So it's harder, uh, for the average
01:29:11.140American and harder on our debt. Um, but then we had some good news. Uh, the dollar is the strongest it's been in years, which is kind of shocking. Uh, and then today we had some bad news about the job numbers. Uh,
01:29:27.360and I want to, I want to focus on that here for a second, because I think a conversation has to be had that I'm not hearing anywhere. Uh, and it, it's, it's very logical. And one that I think you'll agree with
01:29:41.360me, we need to discuss some things right now. We'll talk about that here in just a second. First, let me tell you about a real estate
01:29:47.580agents. I trust moving is really, really hard. I know because I'm doing that this week. My wife and I are picking up our lives and headed up to
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01:30:27.540exactly what we were looking for. And you know, it took us a while, but once it, once she, she sent us
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01:30:57.000to you. Um, but it is, uh, you know, we've been vetting these people for a long, long time. We
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01:31:14.200Tell us where you're moving from and to, we'll help you find the right real estate agent. It'll make
01:31:17.920things a lot easier. Realestateagentsitrust.com. All right, Stu, go over the jobs report. It just
01:31:23.160came out today. Yeah. They showed a gain of 73,000 jobs. Uh, this is not a particularly good
01:31:29.440number. Um, no, I think you could look at it and say, when you examine it a little closer,
01:31:36.200it does show some pretty strange things. Um, first of all, it seems almost all of the job
01:31:43.380gains are coming from the healthcare industry. Um, and, uh, that is consistent over several
01:31:50.040months. In fact, there's a, there's a chart that shows the six month change, uh, of employment
01:31:54.840and like all, most of the lines are either flat or slightly negative. Um, there's a couple
01:32:01.860industries that have slight growth, uh, financial activities, leisure and hospitality. Um, but
01:32:08.100over, well, I mean, it's almost like one of those old COVID charts with jobs where like, you just
01:32:13.780see like all these little lines and then there's just a giant line that go, you know, careens off
01:32:17.960the screen, almost, uh, private education and health services are the, are the industries that
01:32:23.180are showing are almost all the growth, uh, in the United States right now. I'm so glad to hear that
01:32:29.240about private education. Um, I mean, it shows that we are actively engaging in something that we know
01:32:36.640has failed us, uh, and we are, we're changing our lives, uh, as a people. I think that's good.
01:32:42.920The other thing, um, healthcare, I would love to know, um, what parts of healthcare is that insurance
01:32:51.100or is that like doctors and nurses? Uh, do you have any idea? I don't have the breakdown of that,
01:32:59.020uh, in front of me. I can look for it though. It's probably in this data. I'm just kind of
01:33:02.880scanning, scanning through a bunch of the data. Um, it does show, uh, without healthcare jobs,
01:33:07.860we've as a nation of lost jobs overall for three straight months. Um, part of this was a major
01:33:15.240revision, uh, to the data, which showed a loss of 255,000 jobs from the two previous months that
01:33:23.700had already been reported. So a major net is wrong with this. Why can't they get this right?
01:33:27.760This is not that hard. This was happening, you know, all the last four years, much worse than
01:33:33.660that. And now it's, it's happening again with this. You're talking about just revisions.
01:33:37.880Yeah. Yeah. Well, I mean, there's always been revisions. It does seem to be, uh, yeah, bigger
01:33:43.060late, late, late. Um, you know, so you, you look at all that and I, you know, this is a largely
01:33:48.560just, you know, discouraging report, I would say overall. Um, but, uh, you know, we're seeing
01:33:54.920in like the, some of the prediction markets, uh, you know, odds for a recession are going
01:33:59.780up. However, what we're talking about as far as where they result result is like 15 to
01:34:05.34020% is what people are saying is a chance for a recession. So it's not like, again, a
01:34:10.980lot of times I think this stuff gets blown out of proportion and everybody's catastrophic
01:34:14.160or incredibly jubilant, right? Like, Oh gosh, everything's working. You know, we shut up all
01:34:19.600these economists, they were all wrong. I think what we're seeing now is it's probably too
01:34:23.240early to take a victory lap or, you know, jump off a building.
01:34:26.480Doom parade. You know, I, I have to tell you, I, uh, I think we should take a moment
01:34:31.300here and recognize, do you remember what the economy was like, uh, you know, six months
01:34:36.540ago, a year ago, everything was trending in the wrong direction. Everything was trending
01:34:41.180in the wrong direction for us not to be in a recession at this point, I think is, uh, is
01:34:47.180pretty remarkable, especially with the amount of changes that Donald Trump is making.
01:34:53.240Some of the fundamental structures of America, you know, look at, look at the job numbers
01:34:58.560and then the numbers of the people he has fired from government. When you're talking
01:35:03.200about reducing, for instance, the department of education by 50%, that is going to affect
01:35:11.360Yeah. And that's, it's important to note as well. And that is in the data, the government
01:35:15.320jobs are down. Um, again, not to a point where it would outweigh some of the other stuff
01:35:20.900we're talking about, but it is, it is down. We expect there to be more of that, um, coming.
01:35:27.580Um, and you know, I think you can, you can look at that and, and I think it is an important
01:35:32.320factor. It doesn't necessarily overwhelm the fact that these, these reports for jobs have
01:35:36.660not been positive, you know, it doesn't over. Well, not because, you know, again, to me
01:35:40.500and you, you know, government jobs going away is a necessary thing. Um, it might hurt the
01:35:47.500job number reports for a few months, but like Carol Roth has been saying for months, got
01:35:51.840to be careful. Don't want to move too fast on that.
01:35:54.040Yeah. You don't want to be. Yep. And I think you got to be careful, but I don't, I don't
01:35:56.740look at, I look at that as a situation that is needed. Um, and I think Donald Trump does
01:36:01.560as well. So I don't look at that and say, okay, well that's a, you know, I'm going to sit
01:36:06.220here and cry about government jobs going away and it'll take time for people who've
01:36:10.120lost those government jobs to find their way in a, you know, in another industry. Um,
01:36:14.600uh, but it is an important part to, to note that that is, you know, a chunk of this picture.
01:36:21.420So here's what I would really like to, I'd like to try to reframe this in your mind as
01:36:27.280a listener. Um, if I can, we have got to stop looking at everything through the lens of
01:36:36.120the glasses that we have always used our entire life, my entire life. You can look at the job
01:36:42.840numbers and you can say, well, it's this or this, and we have to fix this. And this is growth. And
01:36:46.660this, this is not, and you know, here's the growth industry. Honestly, we don't know what tomorrow
01:36:52.080holds anymore because of AI, because of this, this AI revolution that we are on the verge of. And,
01:37:00.160and I, I've, I've told you this for years, but maybe it will start to make sense to you.
01:37:04.880Between now and 2030, that's four years now in 2030, there will be as much change to, uh, business and
01:37:18.960life itself as there has been for the last 400 years. So from the moment of the enlightenment
01:37:27.780until today, that amount of change is coming in the next four to five years. And that's so huge.
01:37:36.920It's hard to believe or get your arms around, but that is true. So when we look at jobs, I mean,
01:37:43.840you know, if I were looking short term and I'm 20 and I'm like, okay, what do I do? I learned how to
01:37:49.780weld. I learned how to build. I learned how to get involved in building power plants and server farms,
01:37:57.320because I know that's an industry that is going to grow in the next five to 10 years. It's going to
01:38:03.980be nonstop growth. Um, and AI is not going to be able to take over an actual build yet, maybe in the
01:38:12.22010 years, maybe, but not right away. So it's going to take labor. If I'm looking to do something in
01:38:18.900labor, that's the kind of labor I'm, I'm looking at. Um, you know, but when, when you're going to
01:38:25.580school, what do you go to school for healthcare? And, and I, I'm telling you, I, being a doctor
01:38:35.120is getting harder and harder. You don't necessarily, you know, make the kind of money that you used to
01:38:40.460because you've got this gigantic bill you're paying off. Um, and it's very frustrating. And I believe
01:38:47.420in within 10 years, I think easy in 10 years, um, there's going to be so much growth on AI that you,
01:38:55.860your job as a doctor will be more of handholding, um, than anything else. I mean, you still for a while
01:39:03.480we'll, we'll be doing surgery, but if you're a doctor, you should be doing robotic surgery right
01:39:07.860now. You should be looking, you should be leading, uh, the movement in robotic surgery, um, to be able
01:39:14.860to, um, do what you do faster and better and using new technology, um, in, in healthcare. I think the,
01:39:25.680I think the growth, and I could be wrong. I don't know anything about healthcare. Just,
01:39:28.940just trying to understand, let me say it this way. What is the biggest problem our kids are
01:39:37.840dealing with right now? They're dealing with nothing having meaning and they're dealing with
01:39:45.660the, whether they know it or not, they're dealing with these problems because they are, they don't
01:39:51.540have real human connection anymore. Okay. They're talking to each other all the time, but it's all
01:39:59.720on, you know, it's, it's all on text. They're not relating. And when you're sick, there comes a time
01:40:08.320that you're going to need human interaction and you're going to be monitored by all kinds of AI
01:40:12.980devices and everything else. And you're in the hospital, whatever. You may not have a lot of nurses
01:40:18.200because AI will be doing all of the, the grunt work, if you will. Um, but there's going to come
01:40:25.040a time where nurses are so important because they're your human connection. You need to look
01:40:30.260somebody in the eye who's human that can hold your hand. Um, the, the empathetic things are going to be,
01:40:40.440uh, growth industry. And I'm not sure I even know what this is. I'm just thinking about these things,
01:40:46.120uh, out loud. Um, but sending your kid into college right now to be an accountant.
01:40:56.500Again, this is not my area of expertise, so take it for what it's worth, but I would reconsider
01:41:03.380if you're going in for law, I would reconsider, um, already, you know, the law clerks that those jobs
01:41:12.000are gone, those jobs are gone or quickly going away because you can get AI to do so much. Um,
01:41:20.780you're going to need somebody to argue cases, but you're not going to need somebody that needs to go
01:41:26.400through, you know, uh, go through all of the records, all of the law check, you know, can you read this
01:41:34.680contract and check this contract to make sure it's right. AI is already doing most of that. You know,
01:41:40.300you just don't necessarily know that, but the attorneys do you're going to school. And in this
01:41:46.240time, it might be better until we know what's coming to focus on trade, uh, to focus on trade
01:41:58.260schools, for instance, you know, building welding, uh, healthcare, um, things that you can do,
01:42:05.560uh, even temporarily, um, or honestly things that make you more empathetic, um, instead of building
01:42:15.340debt for a world where you just don't know what's going to be, I mean, honestly, accounting it's,
01:42:24.040it's machine's going to do it. A machine is going to do it. Um, it's just the way it is. You're going
01:42:29.900to need the personal interface, but the, this large pool is not going to be needed and everything is
01:42:38.760going to change. So when you're looking at these job numbers, what we should be talking about is
01:42:44.160that these, these numbers may actually be good looking back three years from now. And let me
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01:44:37.440So when I say we're going to look back and say these jobs, uh, you know, these job numbers
01:44:53.860were a dream come true. What I mean is as AI, um, becomes stronger and stronger, there are going to
01:45:01.360be other jobs. I don't know what they are yet. There are going to be other jobs that grow that we may not
01:45:06.100be thinking about right now. That's why I wouldn't, I wouldn't rack up debt to go into accounting or
01:45:11.160law. Um, but, um, be careful with your debt because those jobs may be gone. Other jobs will be created,
01:45:18.720but there's going to be this massive overturn of jobs, uh, and lots of job losses, uh, coming.
01:45:27.400If you're going, what we should be teaching our kids right now is not,
01:45:32.160you know, our entire education system is built on. This is going to be on the test.
01:45:40.900Hey, write this down because this is going to be on the test. Why are tests so important right now?
01:45:47.060Why, why is that memorization stuff of dates and names so important? Because this system was created
01:45:54.280to get you to follow rules. Can you follow rules? Can you do what you're asked to do? This is going
01:46:02.720to be on the test. Write this down and remember this. Okay. It's not taught to teach you to think
01:46:09.900outside of the box. It's teaching you to remain in the box. All right. That is, that was important in
01:46:17.7401950, 1970, even maybe 1990. It was important that you could assemble a car, that you could stand in
01:46:26.480line, you could do these things. Okay. But that's not what's going to be important in the very near
01:46:32.740future. We're not talking 20 years down the road. We're talking five and 10 years down the road. What's
01:46:38.280important is not what to think, but how to think, how to think. They were teaching us how to get a job,
01:46:48.780how to work in these industries. You need to teach your kids now and they need to be learning and you
01:46:55.360need to learn how to think, how to question, because this system that we have built is built for an old
01:47:03.100era. We're, we're in a, we're in a time period. Think of, think of what it was like between 1850
01:47:11.560and 1930. That's the span of somebody's lifetime. Think about what they saw. My father said to me,
01:47:17.580you know, he was born in 1926. Glenn, when I was growing up, we never thought about going to the
01:47:22.920moon. That wasn't even a possibility. And he said, now we're on the moon, we're in space, we have
01:47:27.500computers. Think of that. That's the kind of stuff that is going to happen in five years. You will go
01:47:36.380from that kind of change that happened over the lifespan of my father. This is going to happen
01:47:41.620in really the time your kids are going to go to school or graduate school. It'll all be different
01:47:47.360and it will continue to change. We have to have the conversations of no debt, no debt, not for
01:47:54.900education. Stay out of debt. Do you have any usable skills? Can you fix things yourself without
01:48:05.680having to get somebody else to do it? You know, you, you look at some of the things that is happening
01:48:11.660with generation X, they are teaching themselves by using YouTube. They're teaching themselves how to
01:48:17.540fix a sink, how to do different things. And they're doing it really kind of out of entertainment in a way.
01:48:22.860A lot of them are just watching and you're like, you don't have a sink. You don't own a sink. What
01:48:26.600are you doing? I don't know. I just find this fascinating. I think that's because there is a
01:48:31.680call now to real things and real work and doing things with your own hands, usable skills, usable
01:48:39.800skills, critical thinking. And the last thing that we should be encouraging our kids to explore and
01:48:47.120learn is anything about meaning. Meaning is going to be, it's already crisis level. That's why our
01:48:59.460kids are killing themselves. They don't have meaning in life. They don't, they don't know how to find
01:49:05.060meaning. That has been a lifetime struggle for most of us, but it is a critical situation for our kids.
01:49:14.460So no debt, usable skills, critical thinking and meaning. That's what we should focus on for the
01:49:21.820future. This is Glenn Beck. All right, let me tell you about LifeLock. You ever get one of those
01:49:29.420fraud alert emails that starts with, hello, valued customer, and then informs you about your bank of
01:49:35.480such and such account has been compromised. Despite the fact that, you know, you've never had a bank
01:49:41.380account in the bank of Scotland or whatever. Identity thieves are, are not valid, uh, valedictorians.
01:49:48.300They're really not, uh, but they don't have to be. They just have to get lucky one time, misspell your
01:49:53.200name, guess your password, catch you slacking with weak security questions. Like what's your dog's name?
01:49:59.380Fluffy. By the way, the third most common answer in America is number one password one, two, three.
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01:51:02.040Welcome to the Glenn Beck program. We're glad you're here. Uh, there's lots of things, uh, going on. We still have to get to, I want to kind of continue our conversation that we were just having about, uh, you know, the economy and everything else. And, you know, Stu and I were just talking about trade.
01:51:32.040And, you know, both of us are free trade people. Um, and, you know, so far, you know, things are going a lot better than all the experts said would go on. However, there's lots of reasons for that. We don't have to get into them now, but, um, uh, so I don't know if we've seen the impact. We've seen some good things, but have we seen any of the negative impact, uh, on it? We don't know because a lot of it doesn't come into play.
01:52:00.820It's supposed to come into play today, but now it's been moved to what? August 7th.
01:52:05.800Yeah. So the, yeah, the way they implemented these were, there was going to be August 1st. They're now going to be August 7th. And then, uh, but that doesn't cover, like, we should not still be seeing stuff.
01:52:16.680A lot of products with the tariffs, um, that for at least a couple of months, because what they're saying is it's basically the actual deadline of when we're going to have all products that are going to be tariffed at these rates, assuming these policies, uh, stay consistent would be, I think, October 5th. So we were going to, there's going to be a couple more months here before these things really kick in.
01:52:35.500So one of the reasons why he's doing this is, uh, you know, because of, you know, he feels that we need to be treated fairly. And, uh, and so he wants to, you know, put the kind of restrictions on, uh, them shipping stuff to us, uh, as they have had on for years.
01:52:53.340I think he's going, uh, you know, a little further with some countries, uh, you know, India is one that I, I look at and go, gosh, uh, you know, India is a good friend and they're a huge, huge power and an offset for China. Let's not push India away. Um, but I, I, let me tell you a story about, I was just on the phone with the people at Burna, they're sponsors of the program.
01:53:19.460Um, and, um, they make this Burna launcher. It's a great safe, uh, you know, self-defense, uh, gun really, except it's not a gun. It fires tear gas pellets at very high velocity and, you know, we'll save your children and your family and you from problems. But anyway, um, you know, they've always been made, or I shouldn't say that they've always been assembled in Fort Wayne, Indiana, and they've been very proud of that.
01:53:45.840Um, but they, you know, when they first started making these, you know, there's a lot of stuff that you just couldn't make in America. You, we, you couldn't get it from America. I remember when we started 1791, we could not get a good, out of all things, baseball hat made in America. That wasn't $55, you know, as a blank, you know? Uh, and so we'd have to go someplace else to get it.
01:54:14.420Uh, and it drove me nuts. Now that is slowly changed, uh, over time, but there was a big change when it comes to COVID and between COVID when, when Burna, when COVID hit, they were like, okay, supply chains, this isn't good.
01:54:33.800Cause we have, you know, all of these parts being made overseas. We can't complete anything if we don't have those, if we don't have the supply chain and company after company, after company figured that one out.
01:54:46.900And then when Donald Trump also said, I want things made here in America, they, for one, and I think a lot of companies did this good companies did this, but Burna did this, they started saying, okay, we're, we have to find ways to make things here in America and find the people who will make these parts for us here in America.
01:55:05.020Well, in the last few years, they're now 90% of everything in a Burna launcher is made here in America. That's pretty astonishing. Would it be great to be a hundred percent? Yes. And that's their goal.
01:55:17.220But 90% is astonishing. Um, you know, look at, look at your truck, your Ford truck is 90% of it made here in America. Not a, not a chance in the world. And so there's two sides of this to, to do, to do trade, to balance things out, uh, you know, make sure that we're not getting screwed by other nations, et cetera, et cetera. Um, that's important. But when you look at India, I want to have really good relationship with India.
01:55:46.440Um, just like I want a really good relationship with Canada as well. Canada, however, to me is more important than India is in one way. And that is I could try, I can drive a truck across the border. You know, the global supply chain isn't so bad when it's Mexico or, um, or Canada. And so, you know, anything we can do to bring things back into America to make them, you know, that's one of the arguments.
01:56:16.440I mean, Stu and I were both talking about here off the air, you know, in the last hour was, you know, with everything changing so much, you know, creating things that are made here in America. And you know, how are you going to believe that jobs are going to be created here when you don't know how things are going to be made, blah, blah, blah, blah, blah.
01:56:32.440But we must make things here in America, not, not just for the future for AI, et cetera, et cetera. But, uh, because the supply chain, we learned our lesson or did we?
01:56:47.500Yeah, it's, it's, it's, it's interesting because I think one of the, the, the midpoints, like, cause there's a, there was an acknowledgement that building everything in America, first of all, it's never a good idea to have everything in one basket, right?
01:56:59.840The North Korea does this. They have everything as much as possible made inside of their country. It can be a problem too. That's not.
01:57:07.960Well, that's, that's still a communist country though.
01:57:10.420No, I know. But like, it's an insular constant communist country. And, and so they want to keep everything inside the country. Like we've seen this with, we've had manufacturing problems here in the United States. We're not perfect. It's good to have alternative sources for things, right?
01:57:26.360It's good. It's one thing that's competition. Competition always makes everybody and every product better.
01:57:31.740Yeah. I mean, when you're totally reliant on outside of your country, you know, it can be a negative, but there's always been an acknowledgement that we obviously are a wealthy.
01:57:40.420Nation. Things cost more to do here. We pay our employees more, all these things that are part of the package. Everyone understands them.
01:57:47.240One of the things that we tried to do as a midpoint and saying, Hey, it's probably not healthy for us to be relying on the Chinese communist party for everything that we need.
01:57:57.040What, how can we work around that? And a big part of that was to focus on Canada and Mexico.
01:58:02.680Um, and I, I could be wrong on this Glenn, but like, it seems like, uh, president Trump is saying, Hey, we need to move as much as we can back here.
01:58:12.380Um, but the one country he's been, I don't know, almost oddly lenient with has been Mexico, you know, over and over.
01:58:20.720He just announced another pause with Mexico. Um, and he seems to be giving this, uh, president of Mexico, you know, the, the weird treatment he does, which is like really compliment them at while at the same time negotiating really hard with them.
01:58:35.280He has that, he has that way about him. And that relationship seems to be one that he's focusing on and look, you know, it would be good for us if we had a, um, a place where we could get cheaper goods made, um, that would supply the needs of the U S marketplace and also help a country at some level, you know, Mexico having a terrible economy is not good for us.
01:58:58.120You know, I, you know, like we don't want, I mean, it's almost a failed narco state in many ways at this point. And that's not good. That's not good. That's why I'm actually glad to see him. Um, cause I, I can guarantee you things are happening behind the scenes.
01:59:14.200Yeah. Uh, and he's trying, he's working towards something. He's not just like, you know, Mexico is a great place to go on vacation. Right. Right. That's not happening. Yeah. So, I mean, I think we have to acknowledge that at some level there, there just has to be a mix, a better mix.
01:59:28.120Then we've developed over the years. And, you know, I, I don't know, you know, again, I don't love all the tariff policy stuff, but I think that is certainly, you know, Trump's goal here, uh, is to, is to make, you know, that, that situation more healthy. And I, you know, you hope it works. Um, I am concerned, you know, because we do have a lot of, you know, I think we have a lot of negative things that are inside of our economy that we're working through. We've been talking about spending and debt forever. That doesn't seem to be getting any better at the moment.
01:59:55.460I think a lot of the things Trump has done has improved the economy and are helping us like certainly with energy is really making us even more of a force than we were before. And that's a positive taking off the Obama. What is it? The, you know, Oh, this, the declaration of harm scale. Yeah. Declaration of harm when it comes to global warming. Massive.
02:00:14.460That is, that's probably the biggest, uh, repeal of regulation, at least in a hundred years.
02:00:22.760That's huge. It's a huge one. I mean, tons of regulations are based off that finding back from, I think it was 2009. Yeah. And so, uh, Lee Zeldin's working on getting that overturned. There's a process to that, that it'll, it'll take some time, but like, that's a real, a real positive. And, and, and look, I don't like, man, I'm not a tariff guy, as you mentioned.
02:00:44.460Um, but it is important to keep it in perspective. We have a $30 trillion economy in imports, uh, especially imported goods are about 10% of that.
02:00:54.780So, you know, right now what we have as an effective tariff rate before, uh, August 7th, right now it's been about 8.8%, I think overall, which is a lot higher than we've had, but you're talking about an, an 8% tax on 10% of our economy.
02:01:12.020Um, you know, it's not going, it shouldn't throw us into catastrophic collapse. Um, and, and what we have here, uh, you know, again, I don't like these policies, but I think they are far, far less damaging than what was initially proposed.
02:01:24.460Right. Um, but, but I think you're also, maybe, you know, we all tend to not look at the favorable, um, tariff lowering from the other countries, you know, when, when he makes a deal with Europe and now we can sell our autos into Germany.
02:01:43.460To Germany. Yeah. Or to Japan. That makes a difference. It's absolutely unreasonable to buy an American vehicle over in Europe. It's unreasonable for a myriad of reasons, but the, the, the, the, the former tariffs that they had on us made it ridiculous. There's nobody going to buy one.
02:02:02.320Yeah. I love the, I mean, look that those parts of the agreements where we're lowering tariffs on stuff that we're exporting, I think is fantastic and should continue. Um, uh, you know, that is, I think, uh,
02:02:13.320an objective positive and, you know, we, there's obviously still, I know, I know we never certainly didn't get to 90, uh, trade agreements in 90 days by any means. There's still a lot of work to do on that front, but I mean, he does seem to be working to, to get there. Um, so, uh, you know, I look, I, I think people get overwhelmed by this stuff and, you know, it is still a small chunk of the economy. He hasn't touched tariffs on imported services, which is also a big part of this. Like he just left that out there. So that's a whole nother thing.
02:02:43.260It's just been goods. And if, you know, if it keeps maintained to these levels, I don't think it'll be positive for the economy and I'm worried about it stacking up on each other, but I don't think it's going to destroy us either. Yeah. Um, the, um, which we were both afraid of, um, at those older rates, you know, it would have been much more, I think much more immediately noticeable. I mean, when you look at all these negotiation, yeah, exactly. I mean, we talked about that at the time. I think like when, you know, you said, uh, when you have these things,
02:03:11.260you look at all the tariff studies that have been done over the years, the, the, the price hikes tend to come within a year or two of the hikes. Uh, it's not like, you know, uh, they get raised by 15% and 15% they go up. They slowly work their way through the economy and, you know, trade importing trade is one thing.
02:03:28.920One of the other things we have is American companies that make things that, as you kind of mentioned earlier, that have parts imported. So it winds up hitting domestic stuff as well. We hope that we can just avoid that. A lot of that. And I think part of the reason why we might be able to offset some of it is because the other changes he's making in the economy are, uh, are really helping, right? Like, you know, energy being, I think the biggest thing you can point to. So again, it's just going to be a complicated picture and we're not going to know the results of it for a couple of years. That's just,
02:03:58.060it makes everybody uncomfortable, but it's the truth. Uh, I, I want to, I want to mention one other thing. Um, I'm going to take a quick break and then come back. Let me just write this down. So I don't forget. Um, something about Donald Trump that I noticed that I don't think anybody has, we all, I think we all, when I say it, everybody go, Oh yeah, but I don't think anybody's saying this. Um, and give that to you here in just a second. First, let me tell you about our sponsor.
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02:05:43.020It's Friday. Welcome to the Glenn Beck program.
02:06:07.080You know, I was thinking yesterday, um, I don't remember what was in the news and I saw president Trump and he was, I don't know, on the moon or wherever he was. And, uh, I thought this guy, how is he doing this? I am, I'm so tired all the time. It feel, I feel like, and this guy is just running and running and running and running. And I thought, has there been, and I'd like to get your opinion on this too.
02:06:35.080Has there been a harder working president than this one now? And I say this, I don't, I say this knowing that a lot of presidents worked really hard. FDR worked really, really hard. You know, he, he did a lot of stuff. Um, however, the times are different now.
02:06:54.320That, you know, it's constant 24 seven news cycle. It's constantly battling everything. It's, uh, constantly, um, uh, social media things on the other side of the globe. You're traveling here and there.
02:07:11.600I think in the last 30 years, maybe, I don't think there's been a harder working president than this one. You may not agree with what he's doing, but, but honestly, have you seen, I mean, how many vacations, how many days off did, uh, was, uh, Barack Obama taking all the time? Same thing with George Bush. Same thing. All of them.
02:07:34.360They were always taking vacations. Joe Biden was always on the beach. This guy. I mean, I don't think he takes a couple of hours off every day.
02:07:44.480It's almost something that's, it is amazing. Especially, I mean, remember you forget this guy is in his late seventies. I don't know how he has the energy to do this stuff.
02:07:54.560I have to tell you, there's very few people. I think maybe Elon Musk could keep up with him, but he has, as he always says, great genes. Um, and he's never had to sleep an awful lot. You know, he always like, if he didn't have to sleep, can you imagine what you could accomplish? Yeah, that you could do that.
02:08:13.000I just don't think anybody and everybody should recognize that. Even if you disagree with what he's doing, I don't think anyone has worked this hard as president of the United States, especially in their first six months.