Living and Dying By the Algorithm? - 7⧸27⧸18
Episode Stats
Length
1 hour and 50 minutes
Words per Minute
156.7064
Summary
Glenn Beck: You Live by the Algorithm, You Die by The Algorithm. By the time Wall Street closed yesterday, Facebook shares were down 19% wiping out $120 billion of the company s value. This is the largest single day wipeout in stock history.
Transcript
00:00:00.000
The Blaze Radio Network, on demand, Glenn Beck.
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Well, you live by the algorithm, you die by the algorithm.
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Facebook got straight up slaughtered yesterday.
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By the time Wall Street closed, Facebook shares were down 19%, wiping out $120 billion of
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To put that into perspective, that is almost four times the entire market capitalization
00:00:44.140
This is the largest single-day wipeout in stock history.
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Mark Zuckerberg himself lost over $15 billion yesterday.
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Now, the official reason, and you're going to hear from business analysts, is the media
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will just say, well, you know, this comes a day after executives forecast years lower profit
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margins due to Facebook's concerns over privacy and its role in the global news flow.
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You know, the Cambridge Analytica thing was a nightmare.
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But the second part of the quote that I just read, where Facebook, you know, they're managing
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That is, I believe, the entire reason why people are beginning to bail on the company.
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You know, Facebook was valuable when you could go there and you could pick and choose the
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Facebook's algorithm has been destroying media companies lately, especially the smaller ones,
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and even more so, what a surprise, those that lean conservative.
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This was a conservative site that focused on millennials.
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They had to lay off almost all of their employees back in February.
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Because Facebook's algorithm was choking off their reach, and IGR is just one of the many
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All of us in conservative media have felt the algorithm change like nobody's business.
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So now, why would Mark Zuckerberg and Facebook do this?
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It's because it's the typical progressive mindset.
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Listen to this quote from Zuckerberg a few months ago when he focused, you know, where he laid out their, their, their areas of concern in 2018.
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He said, and I quote, we feel a responsibility to make sure our services aren't just fun to use, but also good for people's well-being.
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Oh, so we've studied this trend carefully by looking at the academic research and doing our own research with leading experts at universities.
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Oh, well, if you're going to the university people, you know, you're going to be on the right path.
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I don't believe you should be able to make your own decisions.
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I mean, you are, you're one of the little people.
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Now, sit back for a minute and let us in the university, you know, the educated egghead types.
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Are we too stupid to be able to pick the type of content that we feel is important?
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You, you are too much of an idiot to decipher fake news from real news.
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So Facebook is going to be the gatekeeper, you know, so you don't hurt yourself.
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I'm sorry, but that's not why I signed up for Facebook.
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I don't need some progressive computer algorithm telling me the content that I should or should not be consuming.
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See what the progressives never allow to happen is let the free market fix it because it will, it will.
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And if Facebook doesn't do it, somebody else will come up and they'll do it.
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Why, why is it that Facebook is the only one with the control of the algorithm?
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Everybody is fed up being told what to do, what they should be watching, what they should be reading, what they should be saying, who they should, who they should follow.
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So, someone soon is going to come along and provide the services that Facebook is denying.
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And yesterday, the free market fixed progressivism that was growing inside of Facebook.
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We played this, beginning of this week, we played something from Mark Zuckerberg, where he was doing an interview.
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And he was talking about how he, you know, they kept trying to say, you're the most powerful man in the world, blah, blah, blah.
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And he kept saying, you know, no, I'm trying to empower others.
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But I do believe that that is his intent to empower others.
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But he is sitting in a situation where he finds himself as the guy being blamed for all fake news and everything else.
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Well, it's not his fault that there's fake news.
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We're not willing to read more than just a headline.
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If you're not willing to do more work than just read the headline, and because you agree with it, because that headline makes you feel good, you immediately Facebook post it.
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Because we're not fixing reason firmly in our seat.
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And so, if you won't police yourself, then somebody else has to come in and police.
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And boy, oh boy, progressives are all always ready to police.
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But Mark Zuckerberg just, you know, on Monday was, you know, being thrown up against the wall by the New York Times.
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Well, why is it you won't ban people like Alex Jones?
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Because who am I to silence the voice of Alex Jones?
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My decision, my role, as he said, was to look at what's being spread.
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And if it is a lie, then our algorithm should kick in to make sure that doesn't go viral.
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However, I don't know if I trust your algorithm to know what is real and what isn't.
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Because who are you, who on the conservative side is consulting you?
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We know you have the Southern Poverty Law Center.
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Twitter has been forcing and just shutting her down.
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But they don't do that with Planned Parenthood.
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You can't have the illusion of freedom and then be so blatantly obvious that there is no freedom.
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The Facebook was so big because it allowed you to connect with who you wanted to and see the news you wanted to see.
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I mean, somebody is going to put you in charge again.
00:09:23.500
And if you are in charge, first thing that they will say is,
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Oh, well, this is just making it easy for the neo-Nazis.
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You click like on the Blaze to get the news from the Blaze.
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And then Facebook delivers to you like 5% of the things that the Blaze posts.
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And it makes, you know, think about this in a radio sense.
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If every day you're like, I want to go to my local station and listen to Glenn Beck on the air.
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And every time you tuned in, only one out of 20 times you actually got Glenn Beck.
00:10:00.500
Like, you specifically are choosing to get the information from these sources.
00:10:04.840
And Facebook is saying, yeah, but what we think is that you don't know what you want.
00:10:16.440
I'm going to give you, yes, the fries are available.
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I'm just going to make it a little more difficult for you to get to the fries.
00:10:32.040
But if I put them in the very back, chances are you're going to go over the apples and over this.
00:10:38.240
And you'll just be like, ah, it's too far to reach.
00:11:01.340
Your life will be better if you try one of these other things.
00:11:09.840
None of us would go into a store for anything that we felt was vital.
00:11:15.640
It would if if we were going in for food or a restaurant and they hand us a menu and they
00:11:27.220
Okay, well, you know, I tell you what, let's start with this.
00:11:44.100
We would walk out of that restaurant if we went into a store and we'd say, I want to
00:11:50.780
Okay, well, we're going to let you try that on.
00:12:02.600
We would never that suit store would go out of business.
00:12:14.100
Now, if you look at what the earnings were, there is no reason on paper why Facebook had
00:12:22.860
So this is all coming from someplace inside of the psyche of America that says Facebook
00:12:31.640
Because I want to give you the numbers when we come back.
00:12:33.360
And when you look at the actual numbers on Wall Street, their earnings, there's no reason,
00:12:38.940
no reason, no reason even for them to go down, let alone the biggest bloodbath in the history
00:12:54.280
So it's the middle of the night and you're tossing and turning.
00:12:57.700
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00:13:01.700
You can run the AC, you can run the fan all night just to keep cool.
00:13:08.660
How about getting rid of that heat trapping mattress?
00:13:15.540
Now, all Casper mattresses use premium foams that keep you cool.
00:13:23.600
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00:13:33.940
It ships for free in a box so small you're not going to believe that it actually holds
00:13:37.600
I warn you, open it up where you want the mattress because all of a sudden there's this
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gigantic mattress, this little teeny box, and you don't have to worry about it.
00:13:47.420
If you don't love it, they're going to come and pick it up for you.
00:13:51.060
You don't have to put it back in the little teeny box, which I don't think is even possible.
00:13:55.540
It's a 100-day test drive, if you will, of a Casper mattress.
00:14:09.780
So, how could Facebook have the largest bloodbath in the history of Wall Street yesterday when
00:14:22.100
I think it's because the collective gut knows something's not right and it's not going to
00:14:27.140
Here's actually what happened on the earning call a couple of days ago when they have to
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announce all their earnings and compare them to the projections for the quarter.
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They were projected to get $13.36 billion in revenue.
00:14:54.980
I feel like you'd still think you had a healthy business if you had those numbers.
00:15:06.040
So, that's a significant thing, especially for a smaller business.
00:15:09.760
But, I mean, they're pretty close to the estimates.
00:15:12.020
However, on top of that, you have to look at the earnings, the profits, right?
00:15:18.320
So, they were projected to get profits of $1.72 per share.
00:15:30.960
They didn't make the amount of money, but they made in profit more.
00:15:39.240
Now, the global daily users, they were projected $1.49 billion.
00:15:46.000
In North America, they were projected $185.4 million.
00:15:57.540
And then, their average revenue per user, obviously, probably the most important measure, right?
00:16:04.200
When you're looking at the fundamentals of this company, if they're making money off of people,
00:16:08.560
projected $5.95 per user, and they got $5.97 per user.
00:16:15.040
So, they outdid themselves on profits and average revenue per user, and then they missed a little bit on the actual total revenue and some of the measures as far as actual daily users.
00:16:29.200
But none of these, you can say, okay, well, hang on, that's something I need to watch.
00:16:32.940
But it's certainly not something that you have a mass, you know, fire sale on.
00:16:41.460
I mean, because, you know, these guys, a lot of times, will look at these things and say, well, they're not growing at these furious paces that they were.
00:16:49.860
And they said they had a couple of lines, like there's some regulatory pressure in Europe with all these privacy restrictions that have restrained growth a little bit there.
00:16:59.840
There were a couple of things that they said that were like, hey, we might not be growing by 45%.
00:17:10.520
Can you imagine if you said, hey, by the way, my, your business is only going to grow by 35% instead of 45%.
00:17:23.780
I don't like the things that they do a lot of the time.
00:17:26.780
But it's, I feel, I think you're right in that it's a perception.
00:17:31.080
It's a perception becoming reality about Facebook.
00:17:34.480
Again, I don't think the fake news problem is their problem.
00:17:37.900
I think they made a mistake by taking ownership of it.
00:17:43.880
We're the ones that are supposed to control whether people decide to share things that aren't true.
00:17:57.100
Because once you have an algorithm to do something, the market is going to make it an algorithm to do something else.
00:18:06.360
You know, that's why you have to have a moral society and a self-governed society.
00:18:12.300
Because you're never going to be able to stop it all.
00:18:31.840
You're a publisher of a local newspaper, Wayne.
00:18:33.740
Yes, I am the only media source in the county with a population of about 50,000 people.
00:18:39.960
And about 5,000 people have proactively reached out and liked my page, presumably because they want my content.
00:18:48.880
But when I publish something on Facebook, about 500 people will see it.
00:18:53.220
And Facebook will offer me a chance to, quote, unquote, boost my post for $5.
00:18:57.800
Because they are holding my own readers hostage and straggling my content because they want me to pay to reach my own readers.
00:19:08.660
If I want to boost my reach, it shouldn't be with the people who said they want to see it.
00:19:16.500
I should be paying to boost my reach to a bigger audience.
00:19:23.980
And another layer of this, and I don't know if Wayne is on this bandwagon or not.
00:19:29.460
But, I mean, a lot of these companies that are publishers paid Facebook millions of dollars to get access to the people in the first place.
00:19:39.140
So they paid Facebook to build a large audience.
00:19:42.220
And after they gave the money to Facebook, Facebook said you no longer can reach that audience.
00:19:46.860
I don't know how that's not a gigantic scandal.
00:20:03.140
You, as a member of this audience, have really done more than any other organization.
00:20:12.200
And in some ways, more than many governments have done for the refugees of the Middle East and those people who are targeted by ISIS.
00:20:22.340
And you continue to do so as part of our Nazarene Fund project with Mercury One.
00:20:27.900
I'm going to tell you about a really, we need your prayers on something, a operation that we're about to start, and we really need your prayers.
00:20:40.540
And one person in particular over in the Middle East really needs your prayers.
00:20:44.740
But I want to introduce you to somebody that you actually helped.
00:20:48.780
He is the only person that we could get into the United States as a Syrian refugee.
00:20:56.320
You know, Australia and lots of other countries took lots of people, thousands of people through Mercury One.
00:21:09.260
And his name is Dr. Tony Al-Khuri, and he is a Syrian refugee.
00:21:14.480
We got him in because he had already been accepted at Harvard for his doctorate or master's?
00:21:29.920
And he's a straight-up guy who's now an intern this summer for Mercury One.
00:21:37.980
So, your town was taken by ISIS again just this week, and nobody talked about it.
00:21:52.060
There was, what, 200 injured and over 200 killed?
00:21:56.460
Thank God it was not taken by ISIS, but there was a very big attack from ISIS.
00:22:04.060
But this was the first attack from ISIS to the town, and it was very mind-blowning because
00:22:12.600
the city was surrounded by the Syrian army, by the government forces.
00:22:20.120
Which are supposedly protecting your town, right?
00:22:23.280
And nobody knows how these people could enter to the city and make all this terrifying explosions
00:22:35.180
And, yeah, as you said, there were more than 200 people killed and more than 200 people injured.
00:22:43.080
We're told here in America that ISIS is over, and that's not true.
00:22:48.700
I mean, we've seriously impacted them, but they still, I think, do you know, I think
00:22:55.000
they have 6,000 square miles that they are still in charge of.
00:23:01.400
The problem with ISIS is they have cells and people everywhere, all over the place in Syria.
00:23:10.740
And when we think they are done and nothing is scary anymore, we get surprised by another
00:23:19.940
So, it's disorganized organization, and at the same time, they have disorganized stuff.
00:23:32.180
Your neighbor might, all of a sudden, he comes back, and you're like, oh, hey, have you been
00:23:45.120
On the other hand, the community in Syria, and especially Sueda, with the majority of
00:23:53.800
people, like as Jews and as Christians, the support to each other probably helped a lot
00:24:03.060
But the problem was trust, the problem was people who came to the city without knowing
00:24:09.460
anything about them, and suddenly, it turns out to be a person from ISIS or a person from
00:24:19.680
What did this audience, the support of this audience, mean to you and to others around you?
00:24:30.200
I mean, it had to have felt like no one was listening, and you were all alone.
00:24:42.900
For me, I am very thankful for the audience of the radio and for the people who are listening,
00:24:52.600
Small thing, I'm not a refugee, and this is a good thing for helping other refugees.
00:24:57.640
I came here by Mercury One to be on F visa as a student, and I didn't apply for asylum
00:25:04.320
because I wanted to be able to travel when I need to travel.
00:25:08.120
Although now, I am very thankful again for Mercury One organization to approve my work
00:25:15.140
So we are now on a process of sponsorship for me as an employee.
00:25:19.920
I will be working as spiritual case manager for Mercury One, and I am so grateful, and
00:25:30.820
So I'm very thankful for the audience, for Mercury One, for all the amazing help I got from.
00:25:36.220
So I need your prayers, because I feel that through this process, I will be able to be
00:25:44.440
part of Mercury One mission as a Middle Eastern person.
00:25:55.160
And through Mercury One and through the mission you're doing, this is going to happen.
00:26:01.180
So there's a woman I found out about yesterday.
00:26:13.620
And also, please, please, if you can't even donate $10 a month to our Nazarene fund, please
00:26:24.720
There is a woman that is in really grave danger.
00:26:40.600
And when we can tell you the whole story, it will be pretty remarkable.
00:26:45.680
And we hope to be able to tell you that story with her free and in a safe place along with
00:27:03.440
And so we have an operation that we're undergoing right now to try to get her out.
00:27:18.300
But we also would like you to join us and help us at mercuryone.org and donate to the Nazarene
00:27:27.980
And we had a we had a pretty aggressive goal this year to raise an awful lot of money and we're not even anywhere close to it.
00:27:36.000
And I'm afraid that Americans think that this is all over.
00:27:43.180
And it's it's are you feeling or the people that, you know, in Syria, are they feeling
00:27:52.980
Because if it's not, if it's not ISIS, Iran is coming in and replacing them.
00:27:59.580
But the situation is we are stuck between two terrible parties and a lot of people in Syria,
00:28:05.840
to be honest, when they think about the two options, ISIS is the big monster is is that
00:28:14.960
So a lot of people, they would choose the Iranian.
00:28:22.140
Yeah, because it's it's more political situation than religious situation.
00:28:26.840
They're not killing them because of their religion, but because of their political views.
00:28:31.700
And now no one, all people are tired of politics and they want to practice their faith and their
00:28:39.380
And probably that this is not very scary under the other big powers in the world, but absolutely
00:28:58.020
What made you want to go from pharmaceuticals to divinity?
00:29:02.620
So in 2005, when I was in pharmacy school, I and I was invited to a Christian conference
00:29:09.540
and the theme of the conference was from Ezekiel, how God is looking for men and women who have
00:29:19.780
I felt that God is calling me for ministry and I didn't question it.
00:29:23.600
I'm not the person who is very comfortable in his life.
00:29:27.940
It's not something I usually accept in a, but that day was something I was not skeptical
00:29:34.760
I felt that this is what God wants me to do in my life.
00:29:37.640
And I ended up in a theology school after 11 years of dreaming.
00:29:48.980
I feel that it was a puzzle from God and God was putting all the puzzles.
00:29:52.380
And now, as I shared before, I will be working to help my people, to help my country, to
00:29:58.960
help the refugees all over the Middle East through Mercury One.
00:30:09.120
If you would like to help, please go to mercuryone.org.
00:30:12.400
If you can donate a dollar a month, $10 a month, whatever you can afford, please, this
00:30:20.920
And even if you, if you can't afford anything, the widow's might is, uh, probably the most
00:30:28.680
And if that widow might is just prayers, I ask that you, um, cover our forces in the Middle
00:30:36.160
East, uh, with, with, uh, with prayers and pray for their safety.
00:30:41.780
We have already lost two people, um, uh, trying to rescue, um, the slaves from ISIS and we don't
00:30:50.700
And, um, this particular story of this one girl who now is, um, pregnant when you hear
00:30:57.580
the whole story, um, it will stay with you for the rest of your life.
00:31:02.600
Help us save her and those like her by going to mercuryone.org slash Nazarene fund.
00:31:10.240
I want to tell you about our sponsor this half hour.
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You know, sometimes have you, have you, have you ever watched the, um, the series from HBO
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I didn't actually see it, but everyone says it's really, really well done.
00:32:55.960
Um, in this, I think it's a second or third episode, John Adams goes to France and the,
00:33:02.060
the difference between America and France at the time is just remarkable.
00:33:07.320
You know, this is the height of, you know, King Louis and, um, everybody's wearing makeup
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and, um, you know, everybody's got the little, the, the makeup mole on their face and all the
00:33:20.120
guys are hoity toity and they're having lavish meals and John Adams comes from America to
00:33:32.700
I feel as though in some ways we're France at that time and other people from the rest
00:33:40.220
of the world are coming here and pleading their case.
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And we're like, yeah, but have you seen what's going on here?
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And, you know, John Adams, uh, in that scene, he's, he's like, no, no, I, I'm, I'm, I'm,
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You know, our people are trying to just live in America and we get so distracted, um, by
00:34:04.820
the things that, uh, that media tells us matters.
00:34:09.880
And when you, when you think and stop to think about this young girl who has been, uh, a captive
00:34:23.160
and has been passed around and, um, made a prize of the chieftains and raped repeatedly and
00:34:33.940
now has an unborn child and cannot do it anymore.
00:34:43.340
And how she must, she doesn't know that somebody is planning to go and save her right now.
00:34:54.940
And she doesn't know anybody even knows her name or knows what's going on, how alone she
00:35:04.800
And when you hear that, I, I was on my way yesterday, um, to do some recording for the
00:35:11.160
audio book, uh, for the new book that is coming out, Addicted Outrage.
00:35:14.920
And I was stopped in the hallway by Suzanne, um, and Tony, um, that you just heard at Mercury
00:35:22.160
And they said, uh, Glenn, we have to tell you about this young girl and we need your audience
00:35:28.880
And if they can help us, um, with donations, please ask them.
00:35:34.400
And they told me the story and just leaned up against the wall in the hallway as they described
00:35:43.540
President Trump is out in the Rose Garden right now, and he's talking about how manufacturing
00:35:52.380
wages are expected to rise the highest rate in 17 years, that African-American unemployment
00:35:58.980
is at the lowest in history, that, uh, Hispanic unemployment is at the lowest in history.
00:36:09.800
There are so many good things that are happening in America, and we are only focused on the
00:36:20.640
And most of those things are ridiculous in the grand scheme of events of the day.
00:36:42.600
The Associated Press today wants you to know, hey, don't, don't be so tough on reporters
00:36:47.880
because their job is like, like, I mean, like really, really difficult.
00:36:53.900
Construction workers, plumbers, waiters, you'd never understand.
00:36:59.060
It's like, it's like having a really tough job.
00:37:02.840
It's not like working in a kitchen or something.
00:37:04.440
And lucky for us, the Associated Press has released an article titled, Mr. President,
00:37:14.040
Details for us, you know, simpletons, just exactly how tough their lives are.
00:37:19.020
For one, sometimes when, when they scream, you know, demands the president, when they scream
00:37:24.200
like that, you know, the leader of the free world, sometimes he like doesn't even answer.
00:37:32.460
He like, it just ignores the reporters so he can, you know, deal with his like presidential
00:37:43.280
I mean, if it weren't for the media, there was no, there's, there'd be no way that we
00:37:48.420
would know the opinions of a highly elite, overly educated group of mostly leftist ideologues
00:37:54.060
who actually believe that their opinion is factually, you know, undoubtedly the truth
00:37:58.480
and that everyone else is a total idiot whose backwards opinions led to the rise of Adolf
00:38:09.560
White House aides banned CNN reporter Caitlin Collins for shouting questions to Trump that
00:38:16.140
he did not like setting off a national debate about how the press does its job.
00:38:21.420
That's what the, that is what the AP reported, but they didn't ban her from the White House.
00:38:27.480
They banned her from a photo op, which I don't like.
00:38:38.020
And by the way, she was a White House correspondent for a conservative website called the Daily
00:38:50.320
At times, the AP article read like a, you know, a children's book on potty training, uh,
00:38:55.500
adequate dict, etiquette dictates that no questions are asked until the president makes any remarks.
00:39:03.320
And sometimes the dignity of the occasion ends reporters can then ask any question on
00:39:08.560
Sometimes they shout to make sure the president can hear the question.
00:39:13.880
So I don't know where this shouting thing came from.
00:39:17.860
Others in the room were shouting, but the AP is showing their true colors.
00:39:22.800
It's coordinated disdain for president Trump, who they referred to in this article multiple
00:39:39.360
But he also now happens to be presently the president of the United States.
00:39:44.140
Imagine if we would have referred to Obama as the former anti-gay rights pothead, Barack Obama.
00:39:51.540
We could have, he was formerly a pothead and he also formerly was anti-gay rights.
00:40:03.440
Interestingly, the article does shed a little insight into Obama's own tenuous relationship
00:40:08.500
with the press a little bit, although they do it with the same bootlicking infatuation
00:40:15.440
But let, let me take some of the bootlicking off the, off the boots here.
00:40:19.560
Here, here's a clip of Obama tossing a reporter.
00:40:23.520
Now, I want you to note how joyful the mostly liberal press reacts, followed by CNN's coverage
00:40:30.920
of Collins, who has an arrogant look on her face the whole time.
00:40:37.440
No, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no,
00:41:00.340
It's not, it's not respectful when you get invited to somebody.
00:41:04.280
You're not, you're not, you're not, you're not going to, you're not, you're, you're not
00:41:12.880
going to get a good response from me by interrupting me like this.
00:41:24.320
There's the press corps booing a member of the press corps.
00:41:33.740
Obama, Obama, Obama, Obama, Obama, Obama, Obama, can we escort this person out?
00:41:41.860
Obama, Obama, Obama, Obama, Obama, Obama, Obama.
00:41:44.860
Okay, so, now there are, there are people that are not just press corps in that room,
00:41:52.880
Did they, did they chant Obama or did they not?
00:41:55.840
And more importantly, did they have a problem with somebody asking a question being thrown out?
00:42:01.240
Now, here is, here is what, uh, here's the take of the, uh, the AP.
00:42:09.960
After the president gets the images and audio he wants, the White House press aides seek to keep the president on message
00:42:16.440
and will shout to the shouting reporters hollering thank you, which keeps Trump from hearing questions in the first place.
00:42:22.900
The result is a lot of yelling, which can look and sound chaotic.
00:42:26.260
It's as if, here, they're trying to convince me that the footage we've seen of aggressive, snotty, elitist reporters
00:42:35.920
over and over and over again is an illusion created by our middle American stupidity.
00:42:45.980
You are not a credible source when you repeatedly call him a, uh, a former reality TV show.
00:42:53.560
You have an unhealthy obsession, an unending fixation with the destruction of this president.
00:43:01.220
I stand for freedom of press, but you need to take on a little more responsibility for your actions as well.
00:43:27.880
Your audience should know that from the inception of the Fox News Channel in 1996,
00:43:38.940
David Bowder, Frazier Moore, their TV people, just absolutely relentlessly tried to harm the network.
00:43:49.880
So you can answer that question, because you were there at Fox for a short period of time.
00:43:54.280
Secondly, the tradition of shouting questions is what made Sam Donaldson famous.
00:44:04.640
And he did that to Reagan, and then Reagan would put his hand up to his ear and go,
00:44:14.560
Because Sam is one of the guys who really made this famous.
00:44:18.680
And listen how the president dealt with Sam Donaldson.
00:44:27.660
Mr. President, in talking about the continuing recession tonight,
00:44:30.740
you have blamed mistakes of the past, and you have blamed the Congress.
00:44:40.900
I mean, that's the way the president should deal with it.
00:44:44.340
Yeah, and Dan Rauta was the same way, and Bill O'Reilly was the same way.
00:44:48.600
I never covered the White House, but I was super aggressive as a reporter.
00:44:52.560
I don't remember ever yelling anything at anybody.
00:44:54.820
I would pick my spots, but, you know, I certainly can't say I was timid.
00:45:04.560
It really doesn't matter, because what, and I can tell you this because I know this for
00:45:09.280
a fact, because we investigated on Bill O'Reilly.com last night.
00:45:13.400
What rankled the White House was that she was told there was not going to be any Q&A,
00:45:21.300
yet continued to be very aggressive and assertive in asking her questions to the president,
00:45:43.520
I would have asked the question, and when he did not answer the question, and kept saying
00:45:49.320
thank you, as you pointed out, then I would have said, will there be a time, Mr. President,
00:45:54.260
when you'll answer the questions about Mr. Cohen, Michael Cohen?
00:46:05.600
If anyone who likes President Trump or supports him in any way despises CNN and Caitlyn, all right?
00:46:21.420
And as we pointed out last week, there is a culture at CNN that demands you be disrespectful
00:46:28.820
I talked to a CNN person this week, and I said, can you name one person on your network,
00:46:33.960
one, in a position of visibility, anchor, high-profile reporter, who's even moderate toward Donald Trump?
00:46:43.760
There is not anyone, not one human being working for the corporation that is even moderate to the man.
00:46:57.760
And Caitlyn has prospered in CNN from her display.
00:47:01.980
But for the American people, if you took a poll today, they would say she was out of line by probably 55-45.
00:47:10.640
So, you know, the point is that the press has devoted itself to removing Donald Trump from office.
00:47:17.920
That's what they want to do, and they're not going to stop doing it.
00:47:21.400
And if they can embarrass them, that's points for them, because that's the culture.
00:47:33.460
I'm going to ask you, Mr. President, your decision to invade Iraq has caused the deaths of thousands of Americans and Iraqis.
00:47:44.320
Every reason given, publicly at least, has turned out not to be true.
00:47:50.720
My question is, why did you really want to go to war from the moment you stepped into the White House?
00:47:56.620
From your cabinet former cabinet officers, intelligent people, and so forth.
00:48:09.540
I think your premise, and I'll do respect to your question and to you as a lifelong journalist, that, you know, I didn't want war.
00:48:17.780
To assume I wanted war is just flat wrong, Helen.
00:48:36.240
Her whole thing was to take George W. Bush apart.
00:48:50.320
Okay, so, but the point is, she still worked, she was still a member, she was not, you know, she was tolerated by the president, and the president even spoke to her with respect.
00:49:12.160
But there is something to be said for the office.
00:49:17.260
You know, that's why, you know, when the CNN reporter yesterday was told that he's not going to answer any questions, she should have backed off.
00:49:27.560
I don't mind the question being asked, but as I said, if you're not going to answer, just say, well, when will you answer?
00:49:33.200
Do you have a problem with, I mean, because, you know, we were there with James Rosen.
00:49:39.260
Obama was much worse to the press than this guy is.
00:49:46.620
But only a couple of times did they kind of get upset about the way President Obama was treating the press.
00:49:56.420
I mean, you know, we're almost stating the obvious to your audience and the American people.
00:50:01.420
The American media, generally speaking, is corrupt and has been for decades.
00:50:08.420
Helen Thomas despised President Bush, the younger.
00:50:18.320
I was in a Washington bureau when I was working for ABC, when Sam Donaldson came storming in one day after a presidential press conference.
00:50:27.740
And he was screaming, Mommy told him to say that.
00:50:40.320
This is in front of the whole Washington bureau at ABC.
00:50:50.540
And Rune Arledge, the president of ABC, loved it.
00:51:06.100
So if anybody, anybody in this country believes that the media is fair and seeking the truth,
00:51:19.740
I don't believe they're seeking the truth either.
00:51:21.540
They have a, they, you know, shout about their rights, but they don't.
00:51:28.840
You're rewarded for trying to embarrass Donald Trump or George W. Bush or Ronald Reagan.
00:51:35.960
I'm just, my point is, as the president of the United States,
00:51:40.380
and a guy who they like to point out was a reality show guy,
00:51:59.580
Because Trump says, look, all of this energizes my base.
00:52:08.620
That's what Ronald Reagan just did to Sam Donaldson, the clip I just played.
00:52:14.260
It not only energizes his base, but it also makes others who are in the middle go and get him.
00:52:31.560
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00:53:46.640
So, Bill O'Reilly from BillOReilly.com and also the author of the new book that's coming
00:53:55.580
out September 18th, the same day my book is coming out, Killing the SS.
00:54:00.380
It is, Bill, I'm halfway through and it is really good.
00:54:09.440
That's the only book I've read of yours and I've only read the, I've only read a chapter
00:54:15.660
What people don't know is that you have servants to read to you.
00:54:20.440
I will tell you, it's, it's really fascinating.
00:54:24.120
Not, not at what I expected at all, um, uh, but, uh, just really fascinating.
00:54:35.400
Uh, the last chapter is an amazing exposition that nobody knows about.
00:54:40.740
So, Bill, uh, let me see if I could get you to say one nice thing about the press.
00:54:46.900
I, and I have to be honest because I've taken a beating from these people.
00:54:52.440
So it's personal and, and, you know, I'm not asking people to believe me, but I've been
00:55:01.120
I mean, you know, we've prospered everywhere we've been for 45 years and that's how long
00:55:07.020
And in the beginning, when I went to Boston university for my master's in broadcast journalism,
00:55:11.180
I did it because of Watergate and, and because I wanted to be an investigative reporter
00:55:16.900
But what has happened is that the money, the industry has overcome all ethics and the news
00:55:29.400
I cannot read the newspaper because it is just to me, a fiction.
00:55:39.260
They don't care about finding out what happened.
00:55:41.900
But Bill, do you think it's just the media corporations, which I think hold a lot of
00:55:46.880
responsibility, but it is also now, you know, when you came out of journalism school, you
00:55:51.940
weren't, you weren't indoctrinated like you are now.
00:56:01.880
And I had a great guy on BillOReilly.com yesterday discussing that, a professor from DePaul, a philosophy
00:56:09.400
professor, saying that the universities are, it goes hand in hand.
00:56:14.940
Um, so what we are now is, is a free country with a press that's corrupt.
00:56:22.820
Okay, back in just a second with Bill O'Reilly, going to talk a little bit about the effort
00:56:27.040
to impeach, uh, the president and those in charge of the investigation of the president.
00:56:35.980
Hey, it's Glenn, and you're listening to the Glenn Beck program.
00:56:38.780
If you like what you're hearing on this show, make sure you check out Pat Gray Unleashed.
00:56:43.020
It's available wherever you download your favorite podcasts.
00:56:51.720
Yesterday, I was talking to, um, uh, oh, shoot from Harvard, uh, professor Alan Dershowitz.
00:56:59.600
He was on the TV show last night at five o'clock, and we were talking a little bit about, you
00:57:04.500
know, the impeachment proceedings that the, um, the, the Liberty Caucus wanted to put out,
00:57:11.780
And they, they were going to impeach Rosenstein, uh, and then they backed away from it.
00:57:19.160
Now, uh, you know, his case was, these were not impeachable offenses.
00:57:26.640
His bigger point was, this really weakens the hand of the president if Congress falls into
00:57:34.720
the hands of the Democrats, because he didn't do anything illegal.
00:57:40.120
Bill, and he said, if you, impeachment has to be about legality, and if it's not, then
00:57:53.240
I mean, I, I, I think if you, uh, diminish the original intent of impeachment by using it
00:58:00.480
to punish a civil servant like Rod Rosenstein, who's obviously doing the wrong thing, um,
00:58:07.760
that you, then that leaves the door open to punishing anybody you want, including the president
00:58:13.020
with, um, a mechanism that wasn't designed for that purpose.
00:58:19.280
Um, but I like to cut through all of BS and, and people don't even know who Rod Rosenstein
00:58:26.500
It all has to do, and it's very, very simple, with getting a warrant from a federal judge
00:58:38.100
And we know enough now to, uh, state factually that information brought to the judge, whoever
00:58:47.180
that may be, the judge is still anonymous, um, by the FBI was fallacious, was false.
00:58:57.560
And the Congress people want to know exactly who put the false stuff in the application.
00:59:08.680
Wait, what is the, wait, what's the false stuff?
00:59:11.380
I can see that they, uh, they, uh, the false stuff is that the FBI was using rumor as fact
00:59:19.500
rumor about Donald Trump and his associates working with Russian people.
00:59:26.740
They were rumors, not facts, but they were presented to the federal judge as facts.
00:59:33.280
And the federal judge did not know that these rumors came from the Hillary Clinton campaign
00:59:42.800
I would think that the, I think it would be very easy to argue.
00:59:45.980
I'm with you, Bill, on this, but I just played the other side.
00:59:48.360
I think it would be very easy to argue that we didn't make up any facts.
00:59:53.660
You know, we, we, we didn't, we didn't tell them everything, but we didn't think we needed
01:00:06.100
That Rod Rosenstein and Jeff Sessions and Donald Trump will not put out what the application
01:00:19.540
And I actually agree with Meadows and the rest of his group.
01:00:26.840
When, you know, when, when you have somebody in justice who is running a, an investigation
01:00:34.440
that Congress has oversight on and you subpoena, I mean, if you subpoena me, if Congress subpoenas
01:00:42.720
If, uh, you know, a court subpoenas me for a speeding thing, I go to jail.
01:00:47.360
If I don't show up, this guy is not showing up.
01:00:55.260
At least, why aren't they just throwing him in jail on this?
01:01:01.340
Number one, they very rarely back up their rhetoric with action.
01:01:06.060
They could cite him for contempt, but Holder was the former attorney general cited for contempt
01:01:15.100
But if it doesn't, if you don't ever back it, if you don't ever back it up, contempt means
01:01:19.960
Well, that's what Congress is, is, you know, they don't back it up.
01:01:24.900
But if I'm president Trump, I order Rosenstein to put out the documents, give them to the
01:01:32.720
congressional committee that subpoenaed them now.
01:01:49.460
The only thing that I can think of, and I don't have any information to back this up,
01:01:54.880
is that in the application to the federal judge to get the wiretap on the Trump campaign,
01:02:01.640
the FBI cited a lot of seamy stuff, a lot of salacious stuff that they heard, and that
01:02:24.160
I, but there's no other reason on earth why the president of the United States wouldn't
01:02:29.360
say, I want the people, particularly Glenn Beck and Bill O'Reilly, to see how corrupt this
01:02:42.900
It's not this whole thing, that this is a bogus investigation.
01:02:48.720
It was based upon Hillary Clinton's purchasing things that aren't true.
01:02:54.120
So if that's your thesis, and certainly that's the president's thesis, put out the document
01:03:03.260
I have the 400 page application for this wiretap right here, and there is a ton that has been
01:03:14.000
I mean, a ton, page after page after page after page.
01:03:16.820
But what I have seen backs up the president's story and backs up the Republicans' memo, but
01:03:25.100
they haven't seen what's underneath the black bars, and we can't see what's underneath the
01:03:30.360
And so, how are we ever going to get to the truth?
01:03:34.800
And I, you know, if the president doesn't want this out because it is embarrassing, even
01:03:42.300
though it isn't true, I mean, allegations are embarrassing, even if they're not true.
01:03:46.340
So he could order, he's within his right, to keep that redacted, to keep that stuff redacted.
01:03:55.020
But, you know, we, we, the people, the American people have a right to know whether the FBI
01:04:01.620
used false information to get a wiretap on a presidential candidate.
01:04:16.420
The Trump team now says, which is something that I think is completely correct, that Michael
01:04:22.320
Cohen is a pathological liar and should never be trusted.
01:04:26.800
However, the entire, through all the years they said he was a pathological liar, they
01:04:30.680
themselves were telling us that they were, he was honest and honorable.
01:04:33.900
So, is this just one of these situations that we shouldn't take anything at face value from
01:04:40.760
Everyone's trying to protect themselves at this point, and it's just...
01:04:45.340
All I can tell you is this, when President Trump was running for president, I got a call
01:04:53.080
from him about an issue that he was interested in that I had said on the O'Reilly factor.
01:04:59.120
And we discussed the issue, and I said, hey, why don't you come on tonight?
01:05:06.480
And we'll, we'll talk about it just like we're talking on the phone now.
01:05:15.600
I said, I would never put him on the air in a million years.
01:05:23.440
In a million years, I said to him, I would never put him on the air.
01:05:35.720
I mean, why would I put him on the air and subject my audience to him?
01:05:42.680
But, you know, he's what they call in New York City an operator.
01:05:52.720
He's a guy that's, well, that's your word, not even the law.
01:05:56.000
He's a guy that's just around, and everything he does is either to get money or to get fame.
01:06:11.280
And so all I can tell you is that this guy feels that his life has fallen apart because of Donald Trump.
01:06:26.180
Do you find it interesting, Bill, that the media, who has had the same opinion as you and I and Glenn over the years about Michael Cohen, suddenly finds him incredibly credible?
01:06:55.320
He is absolutely the best the president can find.
01:07:04.720
But I really never heard anybody say that about Michael Cohen, even when he was in with the Trump people.
01:07:12.680
So, it's all crazy, but you're at the media now.
01:07:27.080
I think it's all been discredited so much, the Mueller investigation, including, that you'd have to have, you know, a tape of Putin and Trump on a Caribbean island going,
01:07:37.960
we're going to get that Hillary and you're going to help us, right?
01:07:42.780
You know, you'd have to have that tape to convince the American people.
01:07:51.680
Is it true that I heard the rumor that killing the SS comes out the same day as a dick to outrage?
01:08:04.780
No, he will torture you with that every time he gets on the phone.
01:08:08.200
And if I'm number one, I guarantee you, he'll be like, eh, congratulations.
01:08:20.840
So, please, you know, buy his book because it is really good.
01:08:49.620
And I think it's, I'm reading it now for the audio edition.
01:08:57.280
And it's saying some things that you don't hear elsewhere.
01:09:07.800
If you remember, July of last year, Bitcoin had just crashed by 40%.
01:09:20.560
And he said, it's, you got to get into Bitcoin right now.
01:09:30.980
He said at the time, Bitcoin could get into $10,000.
01:09:35.580
We were in the middle of a horrific bear market on this.
01:09:48.820
Tika has just come out and said, another big event is happening.
01:09:52.100
And it is going to take Bitcoin up 10x or more.
01:10:01.220
And he says, by Christmas, you need to learn about cryptos and the best way to invest.
01:10:10.080
We have an education course that Tika put together.
01:10:12.300
He explains what cryptos are, how they work, which ones he recommends, and how to buy them.
01:10:20.940
This is a game-changing, generational wealth kind of event if it happens.
01:10:31.940
And then do your own homework and find out if you want to invest or not.
01:10:41.560
Or you can just log online at smartcryptocourse.com.
01:10:53.660
Man, if you live in California, I want you to listen to the next hour.
01:10:57.980
Because I'm going to give you some information on your state and what your state has done to you.
01:11:12.400
And it's a little different in Texas than in California.
01:11:16.920
In California, they're talking about there's a heat wave.
01:11:27.280
If that's what you describe as a heat wave, Texas is in a heat wave from about April until Halloween.
01:11:40.280
Have you heard any talk about brownouts or blackouts or anything?
01:11:45.120
I've heard people say, oh, my air conditioner just went out.
01:11:47.900
And I had to wait two days before it could get fixed.
01:11:50.660
But that has nothing to do with the state or the electricity.
01:11:53.540
In California, they were saying, turn off your lights at night.
01:12:04.200
And the case is always you can't have, you know, growing clean energy without giant government subsidies.
01:12:14.780
And if you're going to favor things like fossil fuels.
01:12:18.380
Well, I mean, Texas is pretty clearly an oil state, natural gas, lots of it here.
01:12:23.160
Also, the number one wind power state in America.
01:12:26.120
When you hear the comparison, because I asked the staff, I said, give me, I want you to look into California and find out, you know, how exactly, how exactly do they get their power?
01:12:38.000
How much are they paying for it and compare it to Texas?
01:12:47.420
And it shows you why the progressive state just doesn't work.
01:12:57.760
You are you are you become a slave to a giant system where Texas has the most modern.
01:13:07.320
We have so many different forms of electricity being generated here and so many different power companies.
01:13:16.720
It's it's remarkable what's happening here in Texas in compared to California.
01:13:22.120
And I want to show you what the progressive disease, how it rots the body in California when we come back.
01:13:32.900
This hour, I'm going to compare the the the prices and the stability of electricity in California versus Texas.
01:13:46.580
It's stunning because we're both having a heat wave.
01:13:49.180
Our heat wave is, you know, one hundred and ten.
01:13:53.180
California is almost up to 90 this week and they have rolling brownouts and blackouts and we don't.
01:14:00.460
And how much are you paying for that stability of that electricity, California, compared to us?
01:14:07.340
But as I was looking into California, we found something else.
01:14:10.280
The California state auditor just released a report of their findings after a 12 month audit of state employees.
01:14:19.880
One employee at the DMV was discovered that she slept at her desk every single day.
01:14:28.660
Sleeping, doing nothing, sleeping every single day.
01:14:32.500
The auditor found that this employee wasted two thousand two hundred work hours between 2014 and 2017.
01:14:51.260
How fast would you be fired if you were sleeping at your desk?
01:14:54.440
So when somebody said, you know, she's not doing anything, she wasn't fired.
01:15:02.040
She still continues to sleep at her desk and still gets a paycheck from the state of California.
01:15:11.660
Every time you wonder, why is it taking so long?
01:15:19.060
They found that some state employees had actually used funds.
01:15:22.600
And I actually there's a part of me, because I don't pay taxes in California, that actually kind of appreciates these people.
01:15:31.700
They found that state employees had actually used funds to build a tiki bar on the back of a state owned building.
01:15:40.620
Two other government employees at a different location wasted fifty one hundred hours and cost the state over one hundred thousand dollars in salary for work not performed.
01:15:53.480
The tiki bar, at least they were doing something.
01:16:10.300
This is the difference between the free market and the government.
01:16:13.700
You can suck at your job in the government and keep your job and then retire with benefits.
01:16:22.500
But one of my favorite lines in Ghostbusters is where the university is going to kick us out.
01:16:28.660
So we'll just go out and do it in the free market.
01:16:46.300
I'm totally better than what the rest of the government's doing.
01:16:50.080
If I'm if I'm working at the DMV and somebody's like, hey, let's build a tiki bar.
01:16:59.620
Matty Greenspan is a guy that you actually started following this week because he he's a he's an analysis for cryptocurrency and and also, you know, other things, you know, Facebook, et cetera, et cetera.
01:17:14.800
And early this week, he said opened a large sell position on Facebook at an all time high before their earnings announcement tonight.
01:17:24.380
And he said, pure speculation, definitely not trading advice, exclamation point, exclamation point, exclamation point.
01:17:32.420
Well, it should have been it should have been advice because he's done quite well for himself.
01:17:49.240
OK, can you walk us through how you came up with it?
01:18:00.220
And can you describe the trade and what you did?
01:18:07.340
All time high was 214 at the time dollars per share.
01:18:11.740
I was just thinking this is a lot of hype around this earnings announcement.
01:18:15.080
And even if they come out with fantastic numbers and beat all of the analyst estimates, the next day there's going to be a hangover from that.
01:18:28.240
You know, I personally I deleted the Facebook app for my phone.
01:18:31.560
I still have an account, but I deleted the app for my phone.
01:18:43.260
So I have a strong feeling that my children might not have a Facebook account.
01:18:48.920
So long, long term, I don't I don't see it there.
01:18:52.620
So I said, you know what, even if they have a great earnings report, we might we we still might gap down the next day.
01:18:58.940
And then little did I know I was about to take in take part in the biggest stock crash in U.S. history.
01:19:07.140
OK, so now you took a position using one point five, eight percent of my equity with a five X leverage.
01:19:20.000
So of the total equity in my account, I used about one point six percent of all of it.
01:19:29.200
I have a lot of different investments in my portfolio.
01:19:31.140
If you look on my portfolio or there's a link in my Twitter bio, you can actually see everything that's in my portfolio that I'm holding at the moment.
01:19:39.660
And basically, that means that I was using one point six percent of it.
01:19:43.400
And of that money, I was using five times leverage, which basically gives five times the buying power on the money that I was using.
01:19:51.000
And so if you trade, if you would have been wrong, it meant you would have had to pay those extra four dollars, right?
01:19:59.800
For every dollar you bet, you would have had to you would have had to cough up if you were wrong.
01:20:05.240
So the way that the platform works on eToro is let's say you allocate a thousand dollars to a trade.
01:20:10.140
So basically, you're going to have a stop loss somewhere in there, which will basically stop you out before you lose the entire one thousand dollars.
01:20:18.740
Now, if I don't know if you're really wrong and the markets closed like it was last night and the market gapped up, there's a small possibility that some of that, you know, might have come out of the rest of your equity.
01:20:35.000
Most likely, if you allocate a thousand dollars, even if you're on high leverage, that's about what you can expect to lose, given where your stop loss is.
01:20:42.380
All right. So if you would have done this with a thousand dollars, how much is that thousand dollars worth today?
01:20:51.460
Well, let's just come up with something that maybe you have done the math on if someone and definitely not what you did, but someone like you, if they would have you just fill in the numbers, somebody like you, definitely not you.
01:21:05.820
Right, right, right, right, right. So if you do a thousand dollars and you're and you're expecting to take a hundred percent profit, that would be a thousand dollars of profit if you and so that would that would basically be how it works out.
01:21:19.740
That's what I'm asking. What I'm asking is, how much money did you make? Seriously?
01:21:25.900
It wasn't a lot. It wasn't a lot. Maybe, you know, enough for a for a nice a nice weekend away. Not not enough to buy a house yet.
01:21:35.620
It's an amazing trade, though. And I was interested to Maddie on your looking at cryptocurrencies because that's you're known for that, if I'm correct.
01:21:44.660
And, you know, we've been talking a lot about cryptocurrencies. We've followed the whole the whole run. I mean, it really is. It's an exciting sort of situation. And people have made ridiculous gains like this in a lot of the cryptocurrencies.
01:21:58.540
But also, I mean, you know, the last year has been, at least since the beginning of the year, been really, really scary. What do you see in coming forward with that?
01:22:06.380
So, well, cryptocurrencies are very new. Bitcoin specifically, if we look at it on the entire time frame, it goes through these kind of boom and bust cycles.
01:22:20.360
So because it's something that's so useful for everyday people and because it's coming online so quickly, basically what you get is you get these these periods where so many people are interested in buying at once that the price can surge, you know, quadruple digit versus like thousands of percentage points within a very short amount of time.
01:22:45.220
And what happens is at the end of that, you know, it has to come down at some point, come back down to reality.
01:22:51.680
So generally speaking, after a thousand point rally, you'd expect to see even a 70 percent or 80 percent plunge after that.
01:23:01.460
But usually it doesn't return to the, you know, the where it was before.
01:23:05.600
So it just maintains a little bit of the gain after the entire boom and bust cycle.
01:23:10.060
Are we headed towards a boom cycle, do you think?
01:23:18.580
Certainly it would be better for everybody involved if we saw more steady inclines.
01:23:25.720
Because that would be that would basically give it a better case for a use case scenario.
01:23:29.840
Anybody who bought, you know, in December at $20,000 per coin is right now kind of sitting on their hands and buying or biting their nails or both at once.
01:23:41.300
Or have teeth in your butt, which would be weird.
01:23:50.520
So it would be a better case for this, for the for the store of value and to be used as money.
01:23:55.500
However, the way it's worked out in the past is that every cycle is a little bit less percentage wise than the previous cycle.
01:24:02.560
So over time, as we reach full market penetration, we should see a lot of that volatility leveling out.
01:24:12.860
And if you are if you are somebody, do you believe this is still at the place where it can be generationally it can create generational wealth or or at least, you know, is it?
01:24:32.100
Well, it's more of the kind of thing where you have now an alternative to central bank slash government money.
01:24:42.460
No, but I mean, I mean, far as a stock, you know, if if your grandfather bought, you know, AT&T in 1920 and then just sat on it.
01:24:52.500
You know, that's a that's a great, you know, generational wealth creation item is if if you buy Bitcoin now and you just sit on it, it does it do you think it has that kind of potential?
01:25:07.440
Well, judging from the past and obviously past performance is not an indication of future results.
01:25:13.800
But over the last five years, it's done I haven't done the math, but probably somewhere along the lines of all of that AT&T stock in the last hundred years.
01:25:24.640
And but you don't think we're at the end of it.
01:25:30.860
But at this point, it seems like we're at the low in the cycle.
01:25:43.800
But most of my clients are accumulating at these prices.
01:25:47.800
Can I let me go back to Facebook here for a second?
01:25:50.560
I think Facebook has, you know, has has is a thing in the past.
01:25:56.300
Nobody nobody who's young is using Facebook anymore.
01:26:00.240
And they kind of took on the responsibility to be the arbiter of what's true and what's not.
01:26:06.140
And that's not really their role and can't be done.
01:26:18.180
Are you are you going to now reinvest in Facebook?
01:26:24.500
I mean, very likely three months ago, you know, Mark Zuckerberg was sitting in a war room thinking about his path to the White House.
01:26:31.080
Um, for me as an investor, I tend to invest in things that I personally identify with.
01:26:40.460
Um, as far as stocks are concerned, they're going to be usually brands that I'm using or I agree with their long term vision.
01:26:58.000
Uh, also, you can follow him on Twitter at Matty Greenspan, M-A-T-I Greenspan.
01:27:02.700
I'd like to also answer your previous question.
01:27:05.100
Do you, uh, would you be fired if you got caught sleeping at your desk?
01:27:10.040
And I've seen studies that show this is a healthy concept.
01:27:14.680
Uh, healthy for you or healthy for the business?
01:27:33.740
We should have him back to talk about the concept because I actually, uh, I mean, we run our business, uh, like this to where, you know, if you,
01:27:42.960
if you, you're, you're in charge of your own day, you do however you do.
01:27:54.580
It's not like, oh, I slept all day, but I got everything done.
01:28:02.480
Let me tell you about our sponsor this half hour.
01:28:06.540
You know, there's a, there's something weird going on in real estate right now.
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Um, it's been a, it's, there's been a run and there's this really weird, uh, there's really
01:28:21.600
weird, uh, shortage of, of homes, uh, because the, the upper price is so high.
01:28:29.020
And so there's a, there's a shortage of homes that are reasonable and that is where the
01:28:47.760
Nice people, uh, who, who, you know, can get the job done.
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I'll even take a jerk, but I'd prefer not to, but I just want somebody who can get the
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Ultimate scenario, somebody who has the same kind of values that I do understand my
01:29:06.640
Um, the market has a really good, uh, campaign that is, is going to actually, uh, sell my
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We found great agents that don't just show up and agree to list your home as is, you
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These are some of the things that the real estate agents at realestateagentsitrust.com are
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01:30:00.920
So, uh, Kim Jong-un, uh, has returned the remains of American soldiers, uh, which we've been
01:30:12.940
Uh, they have just arrived, um, uh, back in the United States.
01:30:17.960
It kind of bothers me that some have been, you know, uh, returned home with a UN flag
01:30:29.140
I mean, we weren't fighting under the UN flag there, were we?
01:30:35.620
I mean, even if this leads to nothing, which is still a very reasonable possibility that
01:30:42.040
And, and, you know, Trump has been quite clear about that.
01:30:44.440
We don't know where this is going to be in a year, but it's worth a shot.
01:30:46.960
I mean, there have been a couple of things that have come out of this that are positive.
01:30:54.880
Like there was, you know, that was, there was some interesting reporting on that this
01:30:57.680
week as well, but it's a, uh, there has been something that has come positive.
01:31:07.220
And, you know, if it leads to nothing, we at least got that, it's worth a shot.
01:31:19.360
Well, it's, you know, it's the longest book you've ever written.
01:31:25.860
They, they sent it to me and they said, okay, we want you to go and try to edit it down.
01:31:30.160
So I cut 20 pages and then added another, uh, 120.
01:31:37.820
Uh, so, uh, it's the longest book I've ever done.
01:31:40.200
And I, I haven't read my own, my own book for the audio book in a long time.
01:31:44.760
This one, I really feel passionately about, uh, and I, I, I want it read in my own voice,
01:31:56.060
So like every waking moment I have like this weekend, I'm going to go see mission impossible
01:32:04.500
So every waking moment you have outside of the Tom Cruise movie.
01:32:09.960
Cause we, uh, Pat and I did the audio book for, I think it was arguing with idiots.
01:32:19.820
And it's, it's annoying because you're reading a book, but you, when you read a book, you
01:32:25.020
know, you silently, you're reading it in a different way than you would read it when
01:32:29.480
you're actually sort of performing for an audio book and there, but you also can't ad
01:32:38.160
So you're reading a book word for word exactly.
01:32:40.960
And as soon as you screw one up, they stop you and they make you redo it.
01:32:49.500
And they're like, well, we really can't really cause it's my book.
01:33:05.960
Much to the chagrin of Simon & Schuster, there is some ad libbing in this.
01:33:15.200
By the way, you can, you can grab it online now.
01:33:17.700
It doesn't come out until September 18th, but you can grab it online, both the hard copy
01:33:29.480
So, uh, the last couple of weeks, we've had a heat wave here in Texas, been 110, and it
01:33:41.600
And anybody who says, well, you know, these times are really tough.
01:33:49.400
Try, try just living without the American invention of air conditioning and refrigeration.
01:33:56.700
I don't know how anyone lived here before there was air conditioning.
01:34:03.140
So, I was thinking because in Texas, we have, uh, we, we have our own power grid and we also
01:34:13.120
have competitive pricing because we have more than one power company.
01:34:16.640
It's not all state run and, you know, regulated and everything else.
01:34:22.580
So you can kind of pit the, the, uh, electricity companies, uh, kind of in some ways, uh, against
01:34:32.300
However, because it is the free market, they, they price it on demand.
01:34:37.500
So if you're, you know, it's 70 degrees and, uh, it's in the middle of the summer and there's
01:34:43.380
light all the time and it's, nobody's really running their conditioning, you know, the power
01:34:50.440
If you're in the winter and everyone's running their heater, uh, or you're in the summer and
01:34:56.680
it's 110 and everyone is using air conditioning, then the price of energy goes up.
01:35:02.900
But that's what gives us the stability of not having blackouts like California, because
01:35:08.880
we don't guarantee our electrical companies a profit.
01:35:13.960
Sorry, we don't guarantee it, but we also don't restrict you from charging.
01:35:20.600
And so I've been, I've been looking into the difference between California and Texas because
01:35:25.160
we don't have even a, we don't even have a fear of rolling blackouts.
01:35:28.920
The national average price for electricity is rounding to the closest number, 10 cents per
01:35:41.620
California's electricity is, is five cents higher.
01:35:51.760
In Texas, the, uh, Texas has eight cents per hour.
01:36:03.540
Now they have all of the, you know, we, I mean, they're, they're Silicon Valley.
01:36:12.240
They have all of the resources that Texas has, except they're not using any of them.
01:36:17.880
Texas is the largest state that is a net exporter of energy.
01:36:25.860
California, on the other hand, imports more electricity than any other state.
01:36:30.380
29% of its total energy comes from another state.
01:36:38.120
It imports wind and hydroelectric power from Oregon and Washington.
01:36:42.040
It also imports nuclear coal and natural gas power from Arizona, Nevada, and Utah, because
01:36:47.340
they won't build a coal plant and they won't build a nuclear power plant.
01:36:50.800
But, you know, that makes them feel good, except it costs them a lot more because they're just
01:36:55.940
buying it from somebody else who's building a bigger coal plant or, you know, nuclear power.
01:37:02.020
California doesn't have any coal reserves or production.
01:37:05.280
They phased out almost all of the use for coal generating electricity within the state.
01:37:10.740
And the critics will say, oh, well, now, wait a minute.
01:37:15.340
They produce an awful lot of clean energy, which is true.
01:37:18.300
They're third in the nation in generating hydroelectric power.
01:37:22.880
They're ranked first in producing solar and geothermal power.
01:37:27.280
However, California is the most populous state at 39.5 million.
01:37:33.380
And solar and geothermal power only provides for about 15% of the electricity used in the state.
01:37:44.840
Over the last 20 years, if you've been paying taxes in California, you have paid $171 billion
01:38:00.080
In large part because the state, you know, says we got to have renewable energy and we have
01:38:10.220
Renewable energy, great on paper, but 60% less reliable.
01:38:16.520
So California, every time people turn on their air conditioning, they're afraid, oh, man,
01:38:22.560
it's going to get hot and we're going to have rolling blackouts or brownouts.
01:38:25.720
That's because the state of California, you know, has cut itself off at the knees because
01:38:32.020
of the Clean Energy Pollution Reduction Act, which requires the state to get 50% of its electricity
01:38:43.240
Los Angeles set to use its end of imported coal power by 2025.
01:38:47.540
What are you, what are you replacing that with, California?
01:39:07.080
California leads the nation with over 450 power outages a year.
01:39:16.220
Okay, so they import contributes to high power, high power costs for consumers.
01:39:29.780
But California imports 90% of the natural gas it uses.
01:39:34.480
California is playing a game with their neighbor states.
01:39:37.340
They're saying, we don't want to have coal, but they, you know, they, they're the model
01:39:45.160
But underneath the table, they're just paying somebody else to be dirty.
01:39:52.240
Another part of the California power game is they're, they're patting themselves on the
01:39:57.200
back for being, you know, leading the country in renewable energy.
01:40:03.880
As, as the elites are starting to take down Elon Musk, who gave you the electric car, which
01:40:13.720
Transportation accounts for 39% of the state's overall energy consumption.
01:40:20.480
Planes, trains, and automobiles run on fuel, fossil fuel.
01:40:26.560
California, listen to this stat, accounts for one fifth of the nation's jet fuel consumption
01:40:39.020
Meanwhile, in Texas, the free market approach to energy production has managed to, you know,
01:40:44.720
both increase the use of clean renewable energy in the state and lower electrical electricity
01:40:51.880
Why are people moving to Texas from California?
01:40:56.560
California is the number one producer of solar and geothermal power.
01:41:12.240
You can't stop using one thing until you can replace it with another and you can invest in something
01:41:24.260
new and be, you know, on the cutting edge, but not before you have a safe place to land.
01:41:30.780
I mean, I appreciate taking care of the environment and California is one of the most beautiful states in the U.S.
01:41:51.260
And you are the ones who are saying that you're so clean and green.
01:42:11.380
I'm not a slave to, you know, the government here.
01:42:22.800
And I'm not a slave to, to the, the whims of mother nature either.
01:42:32.700
I don't have to, in Texas, I don't have to worry about, oh man, I'm going to be home and
01:42:38.940
I'm not going to be able to use my TV, my lights.
01:42:43.040
I mean, what is the point of living in a civilized society, living in, in a modern first world country?
01:42:50.660
If I'm, if I'm experiencing blackouts and rolling brownouts, like you would expect in
01:42:56.760
Africa, the United States of America, you it's California, the home of Silicon Valley, and
01:43:04.560
you're still having rolling blackouts and brownouts, California, you got to wake up, man.
01:43:20.660
Now, if we can only cure the giant straw problem we're having in the United States and the
01:43:35.820
Globally, 500 trillion straws are used by each person every day.
01:43:43.980
Okay, so what did the, what did the fourth grader say that is now quoted as the actual
01:43:48.060
fact that the United States uses 300 million straws?
01:43:53.500
By the way, again, that sounds like a joke, what you just said.
01:43:57.140
What did the fourth grader say in his research?
01:43:59.500
It's legitimately from a fourth grader who called companies and estimated what the total number
01:44:08.760
Okay, now to put that number into perspective, all of the Disney parks, now think of the
01:44:19.420
All of the Disney parks worldwide, their whole thing is just to sell sodas and things to drink.
01:44:39.100
You know, there's probably not a human being in the United States that consumes more soda
01:44:45.360
I mean, I use more, I drink more soda than, it was more than double the amount in a study
01:44:54.720
I drink double the amount of what they said an entire household was excessively.
01:44:59.500
So, I am like, I use more straws than anyone in America.
01:45:05.540
Yet still, I don't think that I use straws at the pace that you would need to have.
01:45:12.140
Because it's basically like two straws a day for every single person.
01:45:15.700
And it's like, well, two straws a day, certainly possible, certainly people do it.
01:45:19.620
But the average for every person in America is two straws a day.
01:45:27.580
Now, if I go to a drive-thru or something, yeah, that's when I use it.
01:45:30.740
But, you know, are you really going through two straws a day?
01:45:35.200
Most people, the number's not even close to that.
01:45:38.160
And by the way, that would include all babies, all old people.
01:45:46.260
All races have to use two a day for this number to be accurate.
01:45:49.240
And there's some weird thing that happens in our society where people get on these little runs.
01:45:53.440
They get on these, like, these frantic sort of passions where all of a sudden now plastic straws are the enemy.
01:45:59.500
It's such a tiny piece of all of the problems they're supposed to cause.
01:46:04.260
Not to mention their replacements, largely paper straws, are the worst creation mankind has ever.
01:46:22.460
They came out with the biggest polluters when it comes to ocean plastics.
01:46:26.700
The United States, 300,000 metric tons of mismanaged plastic waste in the global waters.
01:46:37.780
Now, Brazil is slightly higher at 500,000 metric tons.
01:46:53.460
Now, remember, United States is 300,000 of this.
01:47:05.060
Now, you're talking 10 times what the United States is putting in the waters.
01:47:23.040
Now, part of the Chinese and some of these other countries' waste is we ship a lot of
01:47:29.380
our plastics to China to be recycled, which is funny because recycling is one of the things
01:47:36.400
that's causing the plastics to get in the water in the first place.
01:47:40.700
It's supposed to cure all these problems, I thought.
01:47:43.400
But, you know, so China is getting a hold of our garbage and then dumping it in the water.
01:47:51.540
Do we know that they're dumping our stuff in the garbage?
01:47:56.080
That's the defense because people will say, well, wait a minute.
01:48:03.840
To have them be recycled and reused into something.
01:48:11.000
No, if it's one of these things like, hey, you want our stuff to recycle?
01:48:18.920
It's like if you put your garbage out in front of your house and then the garbage company
01:48:22.240
came and just dumped it all over your neighbor's lawn down the street, that can't be your fault.
01:48:28.980
I didn't know he meant the Johnson's house was the dump.
01:48:40.460
I want to talk to you a little bit about your filter in your air conditioning unit.
01:48:45.400
If you are running your air conditioning, anything like we're running it here.
01:48:50.920
Have you ever used your air conditioner this much?
01:49:03.680
Anyway, you have to replace your air filter because it's sucking in all of the dirty air.
01:49:09.540
And this is what makes your air conditioning break down.
01:49:17.020
Now, you can go to filterby.com and get your filter and they'll deliver it to your house.
01:49:22.180
They'll put you on a schedule so you don't have to forget about it.
01:49:32.720
All of the filters made here right here in America.