The Press Got Us Again!
Episode Stats
Length
1 hour and 55 minutes
Words per Minute
165.24379
Summary
Glenn Beck gives his thoughts on the Super Bowl, Lady Gaga's performance at Super Bowl LIV, and why Bill O'Reilly is the funniest person on Saturday Night Live. Plus, a look at why Lady Gaga didn't say a word about Donald Trump at her press conference.
Transcript
00:00:05.240
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00:00:21.620
Greg Brady is clearly the greatest Super Bowl guy,
00:00:30.420
And that's about as deep as my analysis is going to go into the game last night.
00:00:34.760
Mainly because I did what all real huge sports fans do.
00:00:39.720
I went to bed at halftime because it was clear that Jack Ryan was going to pull it off.
00:00:45.340
Even though I don't think he's been as good since Clancy died.
00:01:04.780
Did anybody else notice that they were just like normal commercials?
00:01:10.300
Except for the ones that wanted to make a strong point.
00:01:17.280
You know, you can piss off half of the country.
00:01:22.820
You can go ahead and attack that half of the country.
00:01:25.920
And you won't have any ramifications or so they think.
00:01:29.460
The funniest segment on Saturday Night Live, I think in maybe a decade,
00:02:13.640
I have to tell you, I, um, uh, I'm not a Super Bowl fan.
00:02:22.640
I've always watched it for the, uh, commercials and for the, no, I know.
00:02:26.300
And for the, uh, and for the, you know, everybody getting together and having wings and eating your face off and everything else.
00:02:41.760
Um, it was, but I will tell you that there was the, the quintessential only listening to soundbites and letting those soundbites control your life example with Lady Gaga.
00:03:02.740
Lady Gaga, the, the whole thing was Lady Gaga is going to say something about Donald Trump.
00:03:08.800
Lady Gaga is going to say something about Donald Trump.
00:03:22.180
Did we see one soundbite and then say, oh, well, of course she's going to make fun of, of Donald Trump.
00:03:30.320
First of all, Lady Gaga has always been, uh, about inclusion.
00:03:49.680
I mean, her statement, she didn't make any statements about inclusion.
00:03:53.240
No, she made no statement about saying about it.
00:03:59.360
So all of this came from her press conference where she said she's for inclusion.
00:04:04.500
Inclusion and equality, which she has always been for.
00:04:14.360
And by, by making up a story about Lady Gaga, they missed one of the best stories from her
00:04:27.620
She said that in 2006, 2008, 2009, 2012, 15, and last week.
00:04:38.060
I am going to have to say that the preparation for this show is the show business version
00:04:47.340
We have our own set of criteria that we go through.
00:04:52.020
Myself and my dancers have been training for months on this.
00:04:54.840
For two months, we dedicated our time to creating the story of the show, creating the musical score.
00:05:02.380
And then we created the set, what it would look like, then we choreographed the actual dance routine, and then we choreographed the pyrotechnics.
00:05:15.940
Additionally to all of that, we go through an extensive amount of training so that I can sing and dance at the same time for the show for 13 minutes.
00:05:26.480
What I would say is that what I would say is that what you're watching at the halftime show, it's not easy.
00:05:34.240
And I say that because I want young people at home that are watching, when they see it, if you have a dream to be something big, you should go for it.
00:05:46.500
But you've got to give it everything you've got.
00:05:50.440
You've got to wake up, and you've got to eat it, breathe it, see it every second of the day.
00:05:57.120
And if you do that, you might be lucky enough one day to wake up and be playing the halftime show.
00:06:12.400
And all the press did on both sides was work us up into a lather that she's going to say something outrageous.
00:06:22.000
First of all, the only thing Lady Gaga, I think she's smart enough to realize the only thing left that is outrageous is someone not being outrageous.
00:06:32.940
I mean, that's the only thing that Lady Gaga can do that's outrageous is not do something controversial.
00:06:38.760
So we spent all of that time and energy reading those stories, talking about it, talking about before.
00:06:53.600
Instead of concentrating on what she did say, and that is, if you have a dream, go for it, but understand you have to sleep it, dream it, live it, eat it.
00:07:12.360
You have to do, you have to live it 24-7 and work hard.
00:07:30.220
Here's somebody telling you how to achieve the American dream.
00:07:34.520
And we missed it because we wanted to talk about politics.
00:07:47.640
Look at how they took a soundbite and made you hate Lady Gaga.
00:07:59.160
But how many people that don't know her, don't have any idea of who she is, now hate her because of all of the stories that she was so passionate about anti-Trump?
00:08:14.840
She's for inclusion and diversity, which she has always been for.
00:08:26.620
And that's all I heard in the lead up to her performance.
00:08:29.700
Was how the NFL wasn't going to stop her from saying anti-Trump things.
00:08:34.640
That she intended on making some sort of statement.
00:08:44.580
You name a rock or pop star that has started the Super Bowl halftime dressed like that with those expectations that starts it with the Pledge of Allegiance.
00:09:19.940
But had to have something that we hated her for.
00:09:26.700
I haven't even seen a country star start the halftime with the Pledge of Allegiance.
00:09:32.140
Not only did she not make an anti-Trump statement, she started the week before with a pro-capitalism, pro-work-hard, live-your-dreams-you-just-may-achieve-it message.
00:10:02.520
It is crazy what we have turned ourselves into.
00:10:17.240
I have had such a come to Jesus couple of months.
00:10:26.280
I mean, yesterday I went to church and I'm listening to this sermon and this preacher, I went to Watermark Church.
00:10:42.880
And I'm listening to this preacher, Todd Wagner's partner, JP, and he is speaking.
00:10:51.180
So Glenn Peck is, he is leaving the Watermark Church.
00:10:55.560
He's with the Watermark Church over the weekend.
00:11:22.120
And he did this amazing sermon and it ended with, he saw a movie called Lion.
00:11:34.640
I've heard of it just recently because of the awards.
00:11:37.480
He said it was fantastic and he said it ends with a stat.
00:11:42.940
80,000 people a year, 80,000 children a year are kidnapped and put into the sex slave trade in India every year.
00:11:59.100
He said he got into the car and he said, I looked at my wife and I just burst out in tears saying, what am I doing?
00:12:18.840
Then I'm going to go home to my house and I'm going to be comfortable and maybe we'll talk about it.
00:12:22.940
And then tomorrow I'll go to church and I'll preach.
00:12:30.240
I have to tell you, if more of us could have that wake up call, how much time did America spend last week on either defending or hating Lady Frickin' Gaga?
00:13:04.800
Our country is burning down to the ground and we spent our time worried about Lady Gaga who started her performance with the Pledge of Allegiance.
00:13:20.360
There couldn't have been a more uniting message than what she presented.
00:13:27.500
What do you say we concentrate on bigger things?
00:13:38.680
What do you say we look at our life and say, you know what?
00:13:42.340
Maybe there's maybe there's maybe there's more to being alive.
00:13:50.520
Maybe there's a bigger responsibility that we all have than politics.
00:13:55.080
Somebody wrote yesterday, somebody tweeted to me, you're just afraid of the war.
00:14:16.900
And what they were implying was the war between the patriots and the progressives.
00:14:31.740
Anybody who is rooting for a civil war is out of their mind.
00:14:38.020
Just go look at the pictures of the dead bodies in the fields.
00:14:52.020
And I said, and the message was because they hate us and we must hate them.
00:15:00.400
My message yesterday on Twitter was, we all have to remove the hatred in our own heart.
00:15:16.040
But you have to remove the hatred in your own heart.
00:15:20.260
You have to remove the willingness to jump to hate or have somebody talk you into hate.
00:15:30.140
I hate to go to a Broadway show tune, but in South Pacific, there's a great line.
00:15:46.540
We didn't hate each other 10 years ago, 20 years ago, last year.
00:15:53.820
Now, all of a sudden, people who loved each other, all of a sudden, hate each other's guts.
00:16:07.940
It is as true as Lady Gaga is going to say something really controversial.
00:16:15.640
She's going to finally put Donald Trump in her place, in his place.
00:16:20.700
Yeah, either that or she's going to start with the Pledge of Allegiance.
00:16:32.640
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00:19:58.020
Of just like, oh man, that could have been historic.
00:20:00.520
Last night I go to bed and of course it is the greatest Super Bowl of all time.
00:20:05.400
Yeah, when you went to bed it was, it was what, 21-3 or 28-3 or whatever.
00:20:10.240
I almost gave up on it at that point too because I was like, I was sort of rooting for the Patriots.
00:20:15.700
I didn't really care that much, but my only interest in it really was where BYU was concerned.
00:20:22.380
It was really, I mean, it was really, I mean, I thought it was colossally boring.
00:20:29.660
And then at 28-3, the Patriots started their comeback and it turned out to be, they're already calling it the greatest Super Bowl of all time now.
00:20:37.040
Now, he's the only one that has won five Super Bowls, right?
00:20:42.000
He was tied at four with Joe Montana and Terry Bradshaw.
00:20:47.340
And so he's the only one to win five and I mean, I don't know anything about it, but I'm just reading, it's no, he's no longer in doubt as the greatest.
00:20:59.520
No, he's, I mean, you gotta, you gotta say five Super Bowls and his statistics, he's probably the greatest of all time.
00:21:35.760
I'm talking about the coin toss and I, and I bring it up off air and I'm like, I think that was a great, that was a great moment.
00:21:54.360
I know, that's why they should have given him some help.
00:21:59.240
What they needed to do was have, you know, the president's son and his father.
00:22:17.560
Your dad's moment has passed, and he wasn't, he's not healthy enough to have that moment
00:22:26.160
You can't handle the, you can't handle the ravages of A.
00:22:34.440
It's hard to see him, and he was, he was alert.
00:22:41.680
Yeah, the first time, the first time, he went to reach for the coin.
00:22:46.220
And the referee walked away, and he was left hanging out there in his wheelchair waiting
00:22:53.300
No, and he said, he said, you could read his lips.
00:23:06.820
I mean, you talk about Donald Trump making fun of the handicapped guy.
00:23:21.700
It rolled off his thumb and rolled on down on the ground.
00:23:31.580
Except it made me realize that Barbara hasn't aged a day.
00:23:48.560
She, we didn't realize she looked 90 when she was 40.
00:23:59.020
It didn't work out for her when she was younger.
00:24:03.520
She can get all of the guys who are still aware.
00:24:06.500
You know, if they ever go on a, it's like a singles cruise after God forbid he passes on and
00:24:11.740
they're on a single cruise and she'll be like, she's the one because she looks 40.
00:24:27.820
The music they played was just really just noble.
00:24:35.680
Because it's hard to see him, you know, age this way.
00:24:41.100
I think the two of them who in politics is not sick.
00:24:45.660
I think the two of them, though, I love them as a couple.
00:24:49.200
They, they always have struck me as the kind that will go out at the same time.
00:24:55.720
When, when she went into the hospital, when he was there.
00:25:06.940
I mean, they're going to take both of these at the same time, which in some way is.
00:25:30.160
But I guess maybe that's the best position they had for him, right?
00:25:52.360
Can you tell me the deal with the egomaniacs that came out without their NFL Hall of Fame jackets at the beginning?
00:26:03.140
There were like three guys that would not wear the jackets.
00:26:21.780
And they didn't wear their NFL, you know, Hall of Fame jacket.
00:26:25.180
And it was amazing to me to see how the older guys came out and they were just like, hi.
00:26:36.580
Just, at first they refused to wear the jacket.
00:26:39.380
It appeared as though they were like, are you kidding me?
00:26:53.180
The two of them that did, they both walked out and they were both showboats.
00:26:58.480
I must have been getting food or something, which.
00:27:13.240
Kurt Warner and LaDainian Tomlinson, those guys?
00:27:19.040
What Glenn's talking about is they brought out the Hall of Fame players' history from black
00:27:25.740
universities that have played such a prominent role in the NFL over the years.
00:27:32.180
Like guys who were in the Hall of Fame that went to black-only universities.
00:27:35.960
My father-in-law said, he was watching with us, and he said, you know, when I was growing
00:27:40.720
up, he said, when I was growing up, he said, you couldn't find a black guy on the football
00:27:45.520
He said, it was a, you know, it was a big deal to be black.
00:27:56.580
You know, Lem Barney, Alvin Bethea, Mel Blount, Roosevelt Brown, Willie Brown, Buck Buchanan,
00:28:00.880
Harry Carson, Willie Davis, Richard Dent, Bob Hayes, Claude Humphrey, Len Ford.
00:28:05.500
All I keep thinking when I see these old guys, all I keep thinking is them walking out to
00:28:10.340
this and thinking, jeez, if I could have just waited 10 or 20 more years to play football,
00:28:15.940
I wouldn't, you know, be working, you know, at the, at the patent store.
00:28:21.560
I mean, the guys who played football when it was really playing football and, you know,
00:28:29.420
If you played in the 50s and 60s, you really wish you were born a little bit later.
00:28:36.400
70s, I think the, I think the salaries really started to kick in in the 70s because while
00:28:40.940
it was hundreds of thousands instead of tens of millions, it was still commensurate with,
00:28:48.640
You know, if you were to adjust for inflation, you'd find that $400,000 in 1978 was like 4
00:28:57.480
I mean, they made a lot of money in the 70s, made a lot of money, but the 50s and 60s guys
00:29:07.040
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I mean, she might think that, but she probably doesn't listen to the show.
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I picked up the phone and I didn't really put any more thought into it other than that.
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You know, is there a company that does a better job at, we love America, God bless our troops,
00:30:34.800
and fathers and sons make memories together than the NFL?
00:30:39.440
I mean, the stuff, the commercials that they run, the way they present themselves, at least
00:30:53.800
They didn't get to be a $10 billion a year industry by doing things poorly.
00:30:58.480
And they've really been innovators in television.
00:31:08.260
As far as I can tell, I don't think I've seen it before.
00:31:12.740
Where it's like the player's view or whatever it was.
00:31:23.840
It looked like it was a distorted, like a really bad distorted picture.
00:31:27.560
But they go right through, like at one point, they went right through Matt Ryan's eyes
00:31:33.400
I couldn't believe one time I saw what, from the perspective of Tom Brady and when he was
00:31:40.820
throwing a pass, and I'm like, how are you even seeing that?
00:31:51.640
To see the field the way they do, it's so much easier when you get the bird's eye view.
00:31:58.980
Well, you've got seven, six foot, nine guys in front of you.
00:32:04.000
And you have to make a snap decision and anticipate where they're going to be.
00:32:16.200
You get just a teeny sense of that when you get that player's view.
00:32:19.920
So that was another innovation that's pretty cool.
00:32:23.560
And it seems like they just got the overhead camera that kind of slides up and down the field.
00:32:32.400
One of the cameras, the cameras on the pylons during the playoffs and stuff, those were great cameras.
00:32:45.540
I mean, why they're not using drones now is beyond me.
00:32:51.160
Well, they talked about drones, the company that supplied drones.
00:33:09.800
It was a huge number of drones and all programmed by Intel.
00:33:14.040
So when you saw the flag behind her, those were drones with lights on them.
00:33:31.020
The, the, the thing that was, that was the most impressive, but everybody just blew
00:33:39.500
Those, that flag, the Pepsi logo, all of that was, those were drones.
00:33:51.620
Because, uh, the FAA regulations wouldn't let them do it.
00:34:05.820
She, uh, Lady Gaga at the top of the stadium also wasn't live.
00:34:11.240
It couldn't have been because you didn't see the shot.
00:34:16.740
Right, because that would have been the coolest part of it, which jumped down, but then they
00:34:20.080
cut away from it, and then they showed her later being lowered.
00:34:23.520
So, I'm pretty sure the top of the, uh, stadium was not live.
00:34:31.520
That's weird, because they made such a big deal out of saying they opened it for Lady,
00:34:38.980
Because they said, you know, it was pretty weird to see this thing closed for the game
00:34:45.900
They closed it back up again, so they did open it, but it had to be for the fireworks.
00:34:52.180
I am surprised you didn't know that about the drones.
00:34:55.500
I thought that was one of the coolest things I've ever seen.
00:34:58.220
It would be a lot cooler in person, too, I think.
00:35:04.280
No, but I mean, if, I mean, if you saw that, I mean, you know, you'll see that now.
00:35:10.980
Think about what it takes, what kind of computing it takes to make sure those things can go
00:35:18.260
in the right design, move quickly, and not crash into each other.
00:35:29.140
Is it worth doing, or do you just put up CGI, since that's what everybody thought it was
00:35:34.540
I mean, they probably spent a fortune trying to make that happen.
00:35:41.560
They do it, they do it, they're on the lunch breaks.
00:35:43.780
I mean, I thought, I thought it was worth it because I just, I mean, I just thought it
00:35:54.640
That's, again, that's, that's the NFL innovating.
00:36:02.180
Think about, think about the halftime shows when we were growing up where they were bands
00:36:11.720
You know, like the Ohio state band, isn't it the Ohio state that does all the, yeah,
00:36:15.620
it's been a while since the Ohio state marching band got out there.
00:36:19.460
But remember when we'd watch those and we did that school, now they're flying drones up
00:36:26.560
I was just watching, you know, some Superbowl retrospectives that they do on the NFL network
00:36:31.300
and they showed the halftime show of, of Green Bay, Kansas city.
00:36:35.200
I think it was, and it was some, I don't even think it was a high, a college band.
00:36:40.120
I think it was a high school band from Green Bay to went out and performed at halftime.
00:36:55.640
How much does it cost to sequester Lady Gaga for two months of rehearsal?
00:37:10.400
I mean, they're putting up, they're designing the show and they're putting the, they're putting
00:37:14.960
And you know, the, the numbers all bode well for doing the halftime shows.
00:37:25.680
For a billion people to see you for 13 minutes.
00:37:28.400
It's like, how did Jimmy Kimmel get the Oscars?
00:37:34.700
I mean, Jimmy Kimmel, remember when he was just the guy who was, what was the beer drinking
00:37:47.260
And it's kind of like, he's one of those guys that you're like, how'd that happen?
00:37:52.860
I mean, I'm glad for him, but how'd that happen?
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00:38:34.900
People are still trying to take Lady Gaga and make it into something that, you know,
00:38:45.140
I think her starting with the Pledge of Allegiance was pretty uniting, myself.
00:38:48.060
But some people are saying, totally missed the boat.
00:38:52.260
She doesn't, she doesn't, they don't see that she was making massive political, yeah.
00:39:00.480
The only political statement she made was with the song Born This Way.
00:39:10.880
The right proves it doesn't understand subtleties in art.
00:39:17.400
Well, I'm going to do my best to hate Lady Gaga just for you guys on Twitter today.
00:39:22.340
Again, like you said earlier, her name is Lady Gaga.
00:39:30.260
Something we should care about that I'm also getting blasted for.
00:39:35.640
And I'll, I'll, there's a couple of things that were said this weekend that I'll wear as a badge of honor.
00:39:42.800
One is coming out and saying, you know, I disagree with Donald Trump on what he said about the United States in comparison to Putin.
00:39:51.800
I'll let you decide his interview with Bill O'Reilly right now.
00:40:28.860
Um, Richard Spencer tweeted a picture of, um, of Brady kissing his wife after the Super Bowl.
00:40:40.540
Uh, and he tweets, for the white race, it's never over.
00:40:54.520
Um, but Ben Shapiro, Ben Shapiro, we tweeted and said, I'm not in favor of you being punched in the face, but you're not making it easy.
00:41:04.900
Uh, I, uh, I tweeted something, um, uh, Spencer, you know, he's the guy who leads the alt-right.
00:41:14.140
Um, but he's a, you know, he's a new kind of neo-Nazi.
00:41:17.560
He's, he's, he's the new happy, smiling, um, new and improved.
00:41:24.120
Uh, and he said, nobody listens to Glenn Beck anymore.
00:41:30.800
I am, I wear it as a badge of honor that nobody, you know, listens to me.
00:41:39.200
Um, you wouldn't believe the number of people that, um, were defending him.
00:41:54.140
I'm not sure that's true, but, uh, it is one of the problems.
00:42:02.060
The other thing that, um, uh, I'm getting heat on, and I can't believe this, uh, I guess
00:42:08.700
if you're one of these people, then I guess we should have a conversation.
00:42:14.320
Um, what Donald Trump said to Bill O'Reilly, uh, in the interview after the Superbowl is indefensible.
00:42:23.320
They're talking about Vladimir Putin being a killer.
00:42:33.440
Well, I respect a lot of people, but that doesn't mean I'm going to get along with him.
00:42:40.060
Uh, I say it's better to get along with Russia than not.
00:42:43.220
And if Russia helps us in the fight against ISIS, which is a major fight, anti-Islamic terrorism
00:43:07.960
The new right that we don't really identify with, we'll jump all over that and be happy
00:43:17.460
In defense of Donald Trump and Vladimir Putin, there are a lot of now people on the right
00:43:29.100
If Barack Obama would have said that, all of the people who are defending-
00:43:32.800
All hell would be breaking loose on the right today.
00:43:37.440
He's- he's siding with Vladimir Putin, and he's saying that-
00:43:51.600
Does he have any idea what Vladimir Putin has done?
00:44:13.020
Ask your memory what Ronald Reagan would have said about somebody who said that.
00:44:21.500
That's the kind of stuff Ted Kennedy would have said.
00:44:27.480
But I don't put us in the same category as Vladimir Putin.
00:44:30.940
And if we are in the same category as Vladimir Putin, then we're in more trouble than I think we are.
00:44:37.860
If that's what our presidents do, just kill the people that disagree with him in elevators and throw him out of windows.
00:44:45.500
And didn't this guy get elected on the premise that America is the greatest country on earth and needs to return to that position in the world?
00:44:59.840
It's completely inconsistent with everything else he's ever said.
00:45:04.040
And yet, I'm sure that will make no difference.
00:45:25.240
He can side with, what's his face, from WikiLeaks, and it's fine.
00:45:30.600
That guy was one of the most dangerous people in the world a few years ago.
00:45:49.120
There's a huge difference between the unintentional killings of civilians in a war zone and Putin's murders, okay?
00:45:56.600
Are you telling me what we did in Nagasaki and Hiroshima was unintentional?
00:46:08.120
Nobody, nobody on the right attacks what we did in Hiroshima and Nagasaki to end World War II.
00:46:21.380
America has been innocent in the last eight years.
00:46:24.400
We gave billions to Iranian terrorist dictator, major cover-up in Benghazi.
00:46:32.000
Have you seen the entire O'Reilly Factor interview?
00:46:38.180
Because we know you don't like out-of-context videos.
00:46:44.080
How much innocent blood has America shed in abortions?
00:47:07.620
If they call you only by your last name, you know they mean it.
00:47:15.600
No, you shouldn't even read it out loud after that.
00:47:48.580
People were defending Richard, Spencer, and Milo.
00:48:04.780
I mean, you can support this guy, and we've tried to since his election,
00:48:11.800
because we've wanted to give him the benefit of the doubt.
00:48:16.200
But you don't have to support every utterance coming out of his mouth.
00:48:23.300
When did it start that everything he says is sacrosanct,
00:48:31.200
When we decided that it is a team sport, and that's it.
00:48:47.520
and I can't tell you how many people I met who would tell me,
00:48:54.480
And I would think, I really thought, you know, with some of them,
00:48:58.200
that it was because, you know, they're not socialist enough.
00:49:00.280
No, some of them are actually saying, because they're in bed with a socialist.
00:49:07.780
Between the Marxists, Bernie Sanders, and all of his gang,
00:49:14.500
and the DNC trying to put into place Keith Ellison,
00:49:37.540
We have the greatest opportunity handed to us right now.
00:49:42.420
You don't have to change any of your principles.
00:49:44.400
You don't have to buy into any policies that you don't like.
00:49:57.820
Just stick to common sense and decency, and you'll win.
00:50:10.140
And right now, the left is looking at us going,
00:50:29.020
And I believe that there are enough Democrats out there
00:50:34.040
when their side was saying all of the good things.
00:50:37.280
And if not, let's at least find the handful of people
00:50:54.060
I really think there is a silent majority out there
00:50:57.180
that is tired of the Democrats and tired of the Republicans.
00:51:13.040
It's the biggest venture capitalist convention in Los Angeles.
00:51:43.840
venture capitalists are, I don't know, capitalists.
00:51:59.520
And I mean, Robert Downey Jr. spoke like two people before me.
00:52:08.920
And he actually made me look, you know, positively optimistic.
00:52:21.200
okay, so let me just ask everybody in the audience,
00:52:26.500
Half the audience, at least half the audience raised their hand.
00:52:34.140
According to the article that I read, it was pretty overwhelming.
00:52:47.260
Because you've seen some clip, you've seen something on YouTube.
00:52:50.860
Do you even know who I am or what I really believe?
00:53:06.900
Because I didn't change a single principle, not one.
00:53:10.020
I've changed my approach and I've, and I've said, let's listen to one another.
00:53:21.380
Let's just, let's, let's see where we can come together.
00:53:24.900
Cause there's so much we can do before we actually have to be at each other's throats.
00:53:29.300
Um, I ended the speech with, okay, so this is where I am.
00:53:34.900
This is, this is who I am and what I believe right now, that it doesn't have to be this
00:53:43.860
I'm tired of, of having to worry about politicians and politics and the president.
00:53:53.860
And I want to find Americans who feel the same way.
00:53:58.180
If you feel the same way, almost every single hand went up.
00:54:02.080
Now I read a story today, the one Pat's referring to, that is like this glowing, uh, uh, article
00:54:13.080
about how I reached the crowd in, and it's not from a conservative, how I reached the crowd
00:54:20.340
in, uh, in a completely amazing way and, um, hadn't seen anything like it.
00:54:27.780
And they were worried about inviting me in the first place, but how the crowd completely
00:54:39.560
That tells you that we can either keep hating each other.
00:54:43.720
We can either keep bashing or there's a good portion of us, both left and right, that know
00:54:57.780
And I'm tired, I'm tired of the arguing back and forth.
00:55:08.180
If we just try, as I said to the crowd, you think all conservatives are like Milo Yapanopoulos
00:55:19.120
You think that that's who we are, racist provocateurs.
00:55:26.520
We think you're all Occupy Wall Street protesters that want to burn down the Starbucks.
00:55:32.300
But I don't know a Democrat who, or I mean, a Republican who is a racist, who just wants
00:55:39.900
to shut all white people down and make sure that gays never leave their house.
00:55:44.740
And I don't know a single Democrat that actually wants to burn down a Starbucks.
00:55:50.180
Why are we letting the two parties convince us that that's who we are?
00:56:01.540
February is the worst month for sleeping, according to a new report out.
00:56:08.220
They say it's because we're adjusting to the darker days and longer nights and central heating.
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Is that a lack of central heating or that we have central heating?
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00:58:16.600
You know, any wannabe dictator, any of them, Barack Obama, any of them, that want me on my side,
00:58:24.280
they'd make the day after Super Bowl a holiday.
00:58:29.480
I think it should be, I mean, I don't even drink.
00:58:38.480
I would love to see our productivity on this day.
00:58:43.560
Yeah, I bet you there has to be a study on the cars that are made on Super Bowl.
00:58:48.360
You know how they always say, don't buy a car that was built on a Monday?
00:58:57.940
The steering wheel is where the tire should be.
00:59:04.040
That was made in the fourth quarter of the game, so.
00:59:44.500
Oh my gosh, the Lady Gaga controversy is still continuing.
00:59:50.520
They're now saying, because she sang, this land is your land, that was, that was, that
00:59:58.040
Every time I say that's a leftist Marxist song, the left says, no, it's not.
01:00:03.320
Now they're, now they're all tweeting, that was a leftist Marxist song.
01:00:14.680
So if you want to say it was the tip of the hat, great, whatever.
01:00:17.760
And then you don't know the, you don't know the meaning behind the other song or, you know,
01:00:39.820
She started, even if she did the Marxist lyrics of the song, she started with the Pledge of
01:00:48.020
And did you hear what she said to the youth of this country?
01:00:50.840
Work hard and you might, you might make it big.
01:00:58.720
She didn't say just, you know, graduate from school and you'll get a mansion and a Maserati.
01:01:04.160
No, Twitter is, Twitter is saying today how stupid I am for not seeing that she's all
01:01:08.060
for, because of the Woody Guthrie songs, that she's, she's all for wealth redistribution.
01:01:16.440
Say, well, listen to what she said last week behind stage.
01:01:19.440
I am going to have to say that the preparation for this show is the show business version of
01:01:29.520
We have our own set of criteria that we go through.
01:01:33.180
Myself and my dancers have been training for months on this.
01:01:36.480
For two months, we dedicated our time to creating the story of the show, creating the musical score.
01:01:49.020
Then we choreographed the actual dance routine.
01:01:59.420
Additionally to all of that, we go through an extensive amount of training so that I can
01:02:03.800
sing and dance at the same time for the show, for 13 minutes.
01:02:07.660
What I would say is that what you're watching at the halftime show, it's not easy.
01:02:16.660
And I say that because I want young people at home that are watching when they see it.
01:02:22.860
If you have a dream to be something big, you should go for it.
01:02:28.620
But you've got to give it everything you've got.
01:02:31.480
You've got to wake up and you've got to eat it, breathe it, see it every second of the day.
01:02:38.280
And if you do that, you might be lucky enough one day to wake up and be playing the halftime show.
01:02:45.740
So now, does Lady Gaga and I agree on everything?
01:02:53.080
I'm actually a Lady Gaga fan because I appreciate, I remember my daughter's coming to me saying,
01:03:00.400
You will appreciate the amount of work that she does and how smart she is.
01:03:08.920
No, but I don't have to agree with Lady Gaga and she doesn't have to agree with Glenn Beck.
01:03:15.640
What is this deal where we have to hate each other?
01:03:30.540
It might be just you and the guy who wrote this venture capitalist article.
01:03:34.620
Might be just the two of you that are having this love affair.
01:03:37.620
But he, is this the same guy that, is this the guy that invited you to the summit?
01:03:44.440
To the upfront summit, which is a big venture capitalist thing, the biggest one in Los Angeles.
01:03:55.680
He asked me to speak and just wanted to do an interview.
01:03:59.180
And he said in this article, doesn't he, that he was worried about.
01:04:03.800
And he said, you know, if I was worried, imagine how worried Glenn should have been knowing what he knew, that he was coming into really hostile territory.
01:04:14.340
There was a definite disadvantage in the home field.
01:04:17.420
But he, he says here, Glenn Beck owned his past communication style.
01:04:26.420
He didn't say you've completely reorganized your ideology.
01:04:29.860
Notice, notice, I mean, this is what the, this is what the right and the left of the extremes are both saying.
01:04:38.540
The left wants me to, the extreme, and the right wants to discredit me, the extreme.
01:04:53.080
If we can't accept somebody who reaches out like this with open arms, even if we don't agree on policy, then we have no hope for healing.
01:05:06.720
So it might be, it might be just the two of them.
01:05:08.900
I will tell you, I met a lot of people who, um, it's, it is happening.
01:05:20.280
I was the one who stood in Birmingham and said, it's not going to be possible.
01:05:34.800
I know we are way ahead of a lot of people, but I don't think we're way ahead of, I should say, we're way ahead of other leaders.
01:05:51.320
And I don't know if they ever will, but we're not ahead of a lot of people.
01:06:04.940
You want to, don't you want to stop hating Lady Gaga?
01:06:13.380
You got to say something on Twitter, on Facebook and take a stand on Lady Gaga.
01:06:17.060
The thing is, you want to just say, I don't care.
01:06:19.760
And that's where I've always been with Lady Gaga.
01:06:32.000
But it's not even, but, but this is anything like Boston.
01:06:34.420
But this isn't even, I don't care what she said.
01:06:38.320
This is no, you know, I disagree with her politics, but I like what she says about X,
01:06:46.040
So while I don't care what she says about politics, I actually like her.
01:06:59.380
And I'm not saying for those people who are the extremes on either side, I don't think
01:07:05.080
I mean, I mean, the ones who need us to hate each other, I don't think you can get there.
01:07:12.120
The ones who say this is a war and it's always going to be a war.
01:07:23.260
And you're certainly not going to convince the next generation that capitalism is a good
01:07:29.660
thing when they're already on the socialist bandwagon.
01:07:32.040
And you're certainly not going to convince the next generation by saying, yeah, and Lady
01:07:41.160
By the way, did you see the Audi commercial last night?
01:07:56.920
Because I saw that commercial and I thought, because it starts with, what am I going to
01:08:03.560
And I kept saying all during the commercial, I don't know.
01:08:18.020
Look up the Audi response because people started to tweet that.
01:08:22.960
And Audi said, when you take into account time at Audi and equalize all the conditions,
01:08:39.320
I mean, they debunked themselves within 20 minutes of running the ad.
01:08:45.220
So they spent $5 million on a stupid ad that doesn't even apply to real life.
01:08:49.880
So now, I watched, and I have to say, I watched this with a side eye.
01:08:56.340
And I didn't watch it all the way through because I thought I was going to hate it.
01:09:05.400
It's illegal aliens getting on a train, heading toward, apparently, the United States.
01:09:17.380
And they don't make it to the United States, right?
01:09:26.820
Their journey, which they have complete the journey and watched the entire journey.
01:09:30.780
Again, again, this is people, now here's 84 lumber, knowing that no one is going to watch it.
01:09:38.160
And so they're making the point and you either love them or hate them.
01:09:49.080
Because I saw the ending of it and I have zero problem with it.
01:09:53.380
I've never gone to a website for the rest of the story.
01:09:59.540
I'm going to see the rest of the story of this commercial?
01:10:02.880
Well, then what you're going to do is you're going to be on tweeting about how much you hate 84 lumber.
01:10:12.440
They go out and they're, you know, catching a train and then they're, you know, they're obviously going to cross the border illegally.
01:10:20.180
They get there and there's a giant wall, a huge wall and the music changes.
01:10:27.640
And it's like, oh, mom looks at her daughter like we came all this way and we're not going to be able to cross illegally into America.
01:10:36.960
And I'm watching that part and I'm like, okay, all righty then.
01:10:44.680
The daughter hears a noise and so she goes around like the wall kind of bends and she goes around and she's like, mom, come here.
01:10:52.840
And there is, and I quote, a big, beautiful door.
01:11:00.880
And it's closed and the daughter pushes on the door and the light, like God's light, streams through the door and they walk through the door.
01:11:13.840
I could spend the day hating 84 lumber or I could take President Trump at his word that it's going to have a big, beautiful door.
01:11:23.820
I don't mind people coming through a big, beautiful door.
01:11:29.220
It was showing that you can't come through unless you come through the door.
01:11:38.520
That is not the impression you're left with when you see the commercial.
01:11:45.400
Is 84 lumber, are they just trying to get you to talk, get the free advertising that they have by playing into our anger and our fears and everything else?
01:11:59.300
Now, there's not a border guard on the other side of the wall when it opens up.
01:12:15.220
You wouldn't build a giant wall and then put a door there if you weren't meant to go through that door.
01:12:26.600
So you got the impression that the point of the ad was, yes, we want you to come here legally.
01:12:34.920
If you do everything that you can, you won't give up the will to come here.
01:12:50.580
And yet, go to Facebook, go to Twitter, guarantee you, 84 Lumber, being bashed or being upheld as these great saviors.
01:13:08.620
Of course, maybe I'm just not as smart as those on the left and I don't understand art.
01:13:13.460
Well, you don't hate Lady Gaga and you're supposed to.
01:13:22.300
Well, I've got a real problem with that, I'll tell you that right now.
01:13:26.920
Man, I've been fuming over that song for the last six years.
01:13:42.220
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01:15:06.680
Yesterday, or last week, I had some conversations with some people who are Wall Street guys.
01:15:15.600
And then I had conversations with some billionaires.
01:15:19.580
You'll never guess which ones were optimistic on Wall Street and which ones were saying, run for the hills.
01:15:28.260
I heard two radically different opinions within two hours of each other.
01:15:36.160
And I can't find a bridge for them to meet anywhere.
01:15:40.100
Because one was the Wall Street guys were telling me that, oh my gosh, $4 trillion, dumping $4 trillion in the system, that's nothing.
01:15:56.780
Where have we seen this happen before where it's worked out?
01:16:09.600
Oh, because our economy, the fundamentals of our economy.
01:16:14.200
I mean, we could literally wall America off and we would be totally fine.
01:16:24.400
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01:17:03.220
Hello, America, and welcome to the Glenn Beck Program.
01:17:09.140
Touch on the Super Bowl, some of the commercials, and some of the things that are happening around
01:17:15.000
But I really want to tell you a tale of two cities yesterday or last week.
01:17:21.940
I experienced two radically different points of view within an hour of each other.
01:17:28.580
And I brought in somebody I trust to tell me which way I should really be leaning.
01:17:41.660
I want to hit with the not-so-much point of view that I heard last week and see if he
01:18:26.120
Any news polls, any polls that are negative, this is according to Donald Trump, are fake
01:18:38.980
We can either live in a fantasy world or we can actually embrace the truth.
01:18:51.660
It's amazing to me how so many people now on the left are saying we are at the point of
01:18:59.100
catastrophe, that the West is about to collapse, that the dollar is about to collapse, that everything
01:19:10.720
When they said anyone who said that before under Barack Obama was a lunatic.
01:19:20.120
Now you have a group of people on the right who have suddenly lost all perspective and say
01:19:27.380
that this is going to take care of it, that Donald Trump can take care of this.
01:19:43.780
The real, wait, that's debt and then the deficit is $150 trillion.
01:19:57.660
I went to Los Angeles last week and I met with some investors.
01:20:04.260
I met with a group of stock market guys who were telling me that I'm nothing but hot air,
01:20:12.740
that there is no way anything that I say is coming is coming our way.
01:20:25.140
He happens to be in town for the last next couple of days.
01:20:28.420
And I wanted to talk to you about what these guys said to me, Chris.
01:20:33.820
They said, yes, we've printed $4 trillion, but it doesn't matter.
01:20:45.640
They said that the market is connected to fundamentals.
01:20:54.240
And they said, everybody agrees that it is fundamentally sound.
01:20:58.220
The stock market, those numbers are not inflation.
01:21:01.900
One of them actually said, quote, if we have bad trade barriers, it's not going to matter.
01:21:12.380
Quote, America could practically wall herself off and we would be fine.
01:21:20.020
Those were like 1930 answers if I've ever heard them.
01:21:41.260
And I wanted, they said it was such conviction.
01:22:06.820
Can we get another microphone in here, please, Tom?
01:22:17.440
Somebody need to take his, take Jeffy's mic here.
01:22:23.600
You don't know what kind of disease it is all over.
01:22:26.320
Just grab his mic and clip it to your shirt there real quick, Chris.
01:22:30.180
So I've never heard anything so crazy as we could print $4 trillion and it's not going
01:22:44.940
Look, the central banks have been printing money like crazy and it's really benefited a
01:22:52.260
And this is something that's really driving me crazy.
01:22:55.920
Because look, all the social tensions we're seeing, one of my key theories on this is that
01:23:03.620
But they're fighting each other, not understanding where the shocks are coming from.
01:23:08.900
So they did these studies in the 40s where they would put a rat in a cage and shock the
01:23:13.200
rat and it would be miserable, but it would, it would, it would handle it.
01:23:16.880
The trouble began when you put a second rat in the cage.
01:23:19.680
Now they still administer the shocks and they look at the other rat and they say, oh, it's
01:23:25.220
Because they don't understand where the shocks are coming from.
01:23:27.520
The shocks that people are experiencing are very real.
01:23:31.840
Get out of the, you know, the super uber wealthy Wall Street, big money managers and
01:23:36.500
And what you find is, no, it's getting harder and harder and we can't get by in two incomes.
01:23:41.200
And yes, my health care costs are spiraling out of control.
01:23:44.700
And yes, the groceries do seem to be more expensive.
01:23:52.620
So for these ivory tower or, or super wealthy people to be going, I don't see any trouble.
01:23:58.940
What's amazing is I then an hour, within an hour, I was sitting and had an hour with a,
01:24:07.340
Um, and I, first thing I said to him, he said, how's your day?
01:24:13.300
I just met with these guys from wall street that said everything is good.
01:24:26.140
And I said, is this a new thought for you because of Donald Trump?
01:24:30.340
And he said, no, that the fundamentals are all wrong.
01:24:34.200
And here's a guy who again has his own money at stake, not somebody else's who is saying,
01:24:41.200
no, it's, it's, this is, this is not going to be good.
01:24:44.720
Well, Glenn, I get to talk to wealth conferences a lot.
01:24:47.560
These are family offices, private equity, uh, pension funds, people who are managing large
01:24:52.560
amounts of money and they fall into two classes.
01:24:54.760
Like you just mentioned, they fall into managing somebody else's money and managing their own
01:25:01.980
They think things are good, but they have to tell that tale.
01:25:06.400
The people who are managing their own money are very worried.
01:25:14.100
They're doing things like this now because they're worried about what they see.
01:25:17.680
And in fact, the people I know personally who are the most worried at this point in time
01:25:23.460
are the people who have the most time in the markets.
01:25:28.140
Hedge fund managers who've been doing this for 30 years, eating, breathing, sleeping.
01:25:36.320
They've been tapped into it their whole lives and they're very worried right now.
01:25:45.880
Just put your money with Apple and Google and these blue chips that are not going away.
01:25:57.440
Um, he said, but these blue chips are, are not going away.
01:26:03.980
The great depression is a once in a lifetime event.
01:26:06.440
And I thought, well, yeah, and everybody, almost everybody who lived through that is
01:26:23.780
You don't know the top or you never know the bottom.
01:26:27.100
Well, I have a position that it's time to be pretty defensive right now.
01:26:31.200
Uh, we can clearly see that a lot of the gains in the stock market have been due to central
01:26:38.080
And so the first question we have to ask is, look, can the central banks just keep printing?
01:26:45.160
We can take it from that point, but not from a fundamental standpoint, right?
01:26:48.480
When we look at stocks today, they are the most expensive they've ever been when we
01:26:52.520
compare the price of stocks to the amount of revenues that they're actually generating
01:26:57.340
The most in all of history, eclipses, 1929, 2000, 2007.
01:27:03.780
So if you like buying stocks at the top or at the most expensive they've ever been, you
01:27:07.720
have to have a good story that says, and here's why that's okay to do today.
01:27:12.080
I don't think it's sufficient to say, well, it's worked out in the past, so it's going
01:27:19.260
And that's admittedly a contrarian point of view.
01:27:22.760
Maybe that doesn't sound as optimistic as some would like, but the base data says this
01:27:33.560
So when we're doing something brand new, I like to say, all right, what are we doing
01:27:39.740
So if we took a chart and we said, show me the price of all the equities in the world,
01:27:44.740
and then let's compare that to the central bank balance sheets.
01:27:51.620
So all we have to really ask is, can the central banks print forever?
01:27:56.780
Well, they can, as long as they're all willing to sing Kumbaya, hold hands, and there's no
01:28:03.360
But could we imagine a situation where Europe starts to depart from the United States, starts
01:28:08.600
to depart from Japan, starts to depart from England or the UK?
01:28:14.840
I don't know how anybody looks at this political environment, looks at Europe potentially fragmenting,
01:28:20.340
looks at the relationships that Trump is now establishing on a trade basis, if not a diplomatic
01:28:25.060
basis, with all these other countries and says, oh, this will be fine.
01:28:35.020
It's the all of a sudden somebody says, I'm not going to play this game anymore.
01:28:40.700
Because if they're not going to play this game, they're not getting their gold back from
01:28:49.160
Because this is the this is the question that I get from people who know the central banks.
01:28:55.660
Who's going to be the one who spits themselves out because they'll be destroyed first?
01:29:05.040
Their central bank now has assets, meaning they've bought Apple.
01:29:09.980
They've bought all kinds of assets, as well as other debts of other countries.
01:29:13.420
And the central bank now has a balance sheet that's more than 100 percent of the GDP of
01:29:19.260
That would be like the United States central bank, instead of four and a half trillion,
01:29:28.300
And all that has to happen for literally the central bank of Switzerland to bankrupt the
01:29:32.000
entire nation is for those bets to start going against it.
01:29:35.280
Now, I could imagine them saying, you know, and sitting in their suits in their little
01:29:39.460
oval offices with the nice dessert trolley on the side.
01:29:42.200
I don't want to be responsible for bankrupting my entire nation.
01:29:45.580
And they might say, I have to depart from this.
01:29:52.320
That's again, the wall is who's going to let Switzerland do that?
01:29:56.420
Because they know if they do it, then it's going to collapse everything.
01:30:03.660
They're not going to block the door for Switzerland to dump all of that.
01:30:08.520
That's a that's the million dollar question, maybe the billion trillion dollar question.
01:30:13.640
But look what's happening now with Greece central bank unable to cope with the banking
01:30:19.400
Their banking system has non-performing loans of 20 percent of GDP.
01:30:25.940
Germany doesn't know what to do about how would they would they risk bailing out the
01:30:30.020
Italian banks under this political environment where populism is on the rise, which is mostly
01:30:35.560
Hey, every time you fat cats get in trouble, you bail yourselves out.
01:30:39.580
And every time the little people get in trouble, you tell us that we have to pay for this and
01:30:44.620
So you were on, I don't know, a couple of months ago.
01:30:47.120
We talked about we talked about bonds, municipal bonds, people, you know, the the the pension
01:30:56.740
funds and how these cities are not prepared to pay these pensions back.
01:31:05.740
And you said once that catches on, once people really understand that, then the panic will
01:31:15.100
I would submit it's already afoot, even in Dallas, where the police pension fund is known
01:31:21.540
to be insolvent and they had to block the gates because police were retiring early, taking
01:31:26.660
out their lump sum distribution, which was encoded.
01:31:31.020
They said, when you retire, you're going to put all this money in.
01:31:35.020
When you retire, you either take a stream of payouts or a lump sum.
01:31:38.580
They started taking a lump sum because the police who were retiring could see that this is an
01:31:47.140
They gated the fund and said, you can't do that anymore.
01:31:50.740
So, look, you mentioned a key thing before looking at 20 trillion in debt.
01:31:56.300
Once we add in all the corporate debt and household debt and all those unfunded liabilities,
01:32:01.280
the underfunded pension funds, the United States is carrying a load of debt that's measured
01:32:12.300
No country has ever dug out from a load that big.
01:32:16.780
So, you know, when I was at a conference recently, I thought John Malden said it best.
01:32:20.740
He said, people ask me if I'm worried about Social Security.
01:32:23.700
I said, no, I don't worry about it because it won't be paid back.
01:32:27.760
Here's the operative question in this story is who's going to eat the losses?
01:32:32.240
And right now, the people that you're talking to, they're being, I think, misled badly by media.
01:32:38.120
That's basically trying to say this is all resolvable.
01:32:42.620
And meanwhile, you watch the people who know the system best were removing their assets from the system really as fast as they can.
01:32:52.260
So the average person who doesn't have anything, average person, maybe something in their 401k.
01:32:58.620
Get it out of your 401k, put it into some sort of hard asset.
01:33:04.880
The basic advice I would give is if you have any nonproductive debt, like you've got auto loans, student loans, maybe high credit card bills, pay those all off.
01:33:14.860
Because that's what the lessons of the 30s taught us was the debt was the stone cold killer in that story.
01:33:20.180
You know, Bank of America went from a cheesy regional bank out of San Francisco area to a national behemoth because they had money to buy broken mortgages.
01:33:28.620
And they bought a lot of farmland and other things like that.
01:33:31.360
So it was the debt on the farmland that hurt the farmers most.
01:33:39.280
To have some cash reserves, absolutely have those built in.
01:33:42.440
And if you have a 401k, you can't take it out for tax reasons.
01:33:46.260
So when we come back, I want to ask you about the debt thing again on the because my grandfather used to always say the people who survived the Depression were the people who had money.
01:33:55.400
But that's not the same as just being out of debt.
01:34:00.060
And I want to talk to you about that when we come back.
01:34:08.820
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Chris Martin is here, and we were just talking about what you should do if you happen to believe the economy is not going to do well.
01:36:25.700
And you said, in the Depression, the lesson was, be out of debt.
01:36:39.560
If you can't make your debt payments, you lose whatever it is the debt was associated with.
01:36:44.020
So you might lose your car, your house, whatever that is.
01:36:50.180
I know that's not an option for a lot of people, but still it's something we should aspire towards, and it's something that would make a huge difference.
01:36:58.000
But being out of debt plus starting to build up cash is really important.
01:37:02.800
And then you can use that cash to buffer the storms when they come or to pick up the assets you want at a future point.
01:37:12.440
It's going to be a great, I think, for a while.
01:37:17.000
And then I think there's another part of the story coming, which is, look, the Federal Reserve printed like crazy.
01:37:23.040
They drove financial prices up for stocks and bonds.
01:37:26.840
So what didn't happen was they didn't get the economic patient revived again.
01:37:31.760
You know, yes, we see new jobs coming, but you dig under the jobs data, and they're all part-time jobs.
01:37:38.060
They're not the kind of jobs you say, yeah, that's the future.
01:37:41.200
You know, that's really going to drive us to new prosperity in this country.
01:37:44.980
We saw corporations get incentivized to buy their own shares back, right?
01:37:52.680
The Fed has been printing money and dumping it.
01:38:16.340
So Chris Martinson is here from peakprosperity.com, and we're talking a little bit about the economy and what is to come.
01:38:27.520
And there is this weird switching of musical chairs where the right is now convinced that everything is fine, and the left is now convinced that we're on the precipice.
01:38:39.060
And I'm happy to say I haven't changed my position in two presidents.
01:38:45.640
What was coming in 2006 that we felt coming is still coming.
01:39:04.380
Well, economically, there's first the downside, and then the Federal Reserve has to print more and more and more.
01:39:09.100
They're going to keep trying the same thing over and over again, and it's not really going to work.
01:39:12.560
I haven't changed my position over a couple of presidents either because there's deeper structural things that we need to attend to, and that's part two.
01:39:20.800
That's the part of the story I'm actually excited about is can we finally have the conversation to say, who do we want to be?
01:39:28.580
You know, where do we want to go as a country and have that vision and really bring that forward?
01:39:34.020
Before we get there, tell me, they've printed all this money, and it all went to the Wall Street fat cats.
01:39:41.060
I was just told by Wall Streeters that this is not true, Glenn.
01:39:46.560
The fundamentals are sound, and I said, you're starting to see the beginnings of inflation.
01:39:55.880
That is inflated money, funny money, had by all the fat cats.
01:40:01.680
That's making the stock market go up, and everybody feels good.
01:40:07.240
Banks never lent that money to go try to get a business loan.
01:40:12.420
Now you're saying that they're going to print again.
01:40:14.340
Where are they going to give the money this time?
01:40:18.040
They've tried giving all this money to Wall Street.
01:40:20.760
The Federal Reserve and the other central banks are scared to death of even the most minor market correction.
01:40:27.940
When the markets start to go down even a little bit, they come out and they use words,
01:40:31.140
and I think they might even be using other means to drive the markets back up again.
01:40:34.780
They're scared of that, but it hasn't really worked.
01:40:37.140
When you look at overall economic growth, worldwide, United States, it's not there.
01:40:42.060
We're still accumulating debt at more than twice the rate that the economy is growing.
01:40:47.080
Your credit card is growing at twice as fast as your income.
01:40:51.720
So to get around that math problem, they're going to have to give money to Main Street.
01:40:54.900
And I'm talking like complete tax holiday next year, a check from the Federal Reserve, something like that.
01:41:07.140
I mean, it would be hard to be disappointed on a tax holiday.
01:41:12.940
A complete tax holiday, that would be really hard to say no to.
01:41:17.520
And they expect us just to then dump it into the system.
01:41:22.280
And I not only would expect people to do that, I'll encourage them to do that.
01:41:25.680
As soon as that tax holiday comes, run, don't walk, and make sure you know what your buy list is going to look like
01:41:31.180
because that's when we're starting down to Act 2 of this story.
01:41:37.260
Because when they start dumping, you know, this is one of the guys, one of the guys said,
01:41:41.300
Glenn, these corporations are going to get, you're going to get tax breaks,
01:41:44.800
and these corporations are going to repatriate their money.
01:41:48.100
And I said, that's $15 trillion repatriated to the United States.
01:41:55.400
It's either going to go to the stock market or they're going to start building factories and everything else.
01:42:00.700
Then that's $15 trillion that is going to be seeping through the system.
01:42:11.420
And I didn't understand the math on that one, but that's what the experts told me.
01:42:17.160
So when we say inflation, people think back to the 70s where you had a wage price spiral.
01:42:25.960
So you're absolutely right in identifying, look, when you dump money into a market, you get inflation.
01:42:37.300
Look at the trophy properties in Manhattan and San Francisco and London.
01:42:41.040
Look at the price for rare gems, fine art, Gulfstream fives.
01:42:48.380
They dump the money in to the fat cats and they've bid up everything they care about.
01:42:52.960
All of those things I just mentioned through the roof inflation.
01:42:55.780
But people aren't recognizing it because we don't measure that when we look at the inflation measures.
01:43:01.720
This next part of the story is they start pushing the money in to the people.
01:43:05.820
And that's where we get the other inflationary parts.
01:43:07.860
Now, the real question is, does the rest of the world say, yeah, I'll continue to hold U.S. dollars under that circumstance?
01:43:13.760
So, you have corporations rushing their money back.
01:43:16.440
Hey, but maybe the Bank of Iraq says we don't want dollars anymore.
01:43:23.180
That's when you start getting the external inflation that comes back into this country.
01:43:32.520
And we're just kind of hoping that that won't stop.
01:43:35.220
Like, everybody will just continue to want to hold our dollars forever and ever, no matter what.
01:43:40.020
And that's an assumption that really needs to be tested.
01:43:43.760
No, preferably not in my lifetime, but it's going to be tested.
01:43:50.320
You just said that coming to this realization has been the best thing in your life.
01:44:01.280
I mean, I look at it and think, holy cow, I don't want to go through that.
01:44:12.980
So, listen, there's a lot of things I can't control in this story.
01:44:15.640
I can't control what the Federal Reserve is going to do about money printing.
01:44:23.000
I can, however, control my exposure to the dollar.
01:44:26.440
So I have a lot of my assets out of the dollar.
01:44:28.920
I have a lot of gold, a lot of silver, own real estate, tangible things.
01:44:36.360
From 1918 to 1923 in Austria, they went through the Weimar hyperinflation.
01:44:40.860
They write books about it and they talk about it as if the great wealth destruction, the middle class, was wiped out.
01:44:49.480
But not if you understand what wealth really is.
01:44:52.640
Wealth is productive farmland, factories, hotels, the productive enterprises of the nation.
01:44:58.120
Those didn't go away because they went through a hyperinflation.
01:45:05.120
So, yes, in this story, it's already happening.
01:45:07.280
You know who the largest landlord in America is right now?
01:45:12.560
They own $1.75 trillion in mortgage-backed securities, which makes them the largest landlord in America.
01:45:17.780
Where did they get that $1.75 trillion to own more real estate than anybody else in this country?
01:45:30.280
So this is my advice to everybody is watch the trends, understand this is coming, and then own real assets.
01:45:37.180
But doesn't the ownership of more property in America by the Federal Reserve,
01:45:44.280
isn't that just now, once again, the rich getting richer?
01:45:48.380
I mean, this income, what was it, somebody last night was doing income redistribution for the Super Bowl.
01:46:05.320
You do have the uber, uber fat cats, not the guys that are living in the fancy houses in most towns,
01:46:13.700
but the uber, uber billionaires that are up at the top of this banking problem and Wall Street problem.
01:46:23.880
There's where they're sucking up all of the money.
01:46:26.640
So how do we solve that without riots in the street?
01:46:33.860
But we're getting there already because they have that sucking sound is them sucking the economic oxygen out.
01:46:39.140
Let's look at like rental prices in all the major cities have been going up at 8, 9, and 10 percent for the past five or six years.
01:46:47.480
And the reason for that is you have big, giant private equity companies.
01:46:50.260
They get to borrow at 1 percent, so their rate of mortgage is a 1 percent mortgage,
01:46:54.580
and they're competing against you or I who might want to try and buy that apartment so we're not renting it.
01:46:59.220
But our cost of capital is 4, 4.5 percent on a mortgage.
01:47:02.660
So they borrow at 1, unlimited, and buy up all these things because they can make that number work at 1 percent.
01:47:09.020
And for you, it's harder to make it work at 4 percent.
01:47:12.260
So they just have access to capital, and this is what Janet Yellen and the Central Bank of the United States,
01:47:20.140
This is what they're saying has had no economic harm, that they haven't been driving this wealth gap that exists in America,
01:47:25.740
but it's happening structurally because we haven't been able to face it as it exists.
01:47:30.400
We can't borrow the money that they can borrow.
01:47:38.340
How does that fix it when they hold all the cards?
01:47:43.520
Well, this is a very big topic, but in my mind, we have to first confront the problem,
01:47:49.140
understand it for what it is, and I think this is almost a cultural piece.
01:47:54.480
I think it's time to actually not say, oh, it's this big private equity company,
01:47:58.300
but let's call out the CEO of that company, and let's make them understand that we're watching them.
01:48:04.560
I mean, maybe public shame used to be a feature, right?
01:48:08.460
CEOs used to be ashamed to take more money than their workers back in the 50s and 60s.
01:48:17.660
I don't necessarily have, I mean, I don't have a problem.
01:48:22.140
You know, if you're the wealth creator, like I'm the wealth creator here.
01:48:34.160
So, why should I not make more than the people who work?
01:48:40.380
Well, let's separate people who actually are generating, creating value and people who are skimming.
01:48:45.780
What I'm talking about, these people are just running skimming operations.
01:48:52.820
I might pick on, for instance, in the Affordable Care Act, Obamacare.
01:49:00.440
A 61.5% increase this year, 25% last year, right?
01:49:05.640
And that's also dialing my way down through the bronze plans and, you know, all kinds of, like, deductible increases, all that.
01:49:11.900
When I, where my anger, if not rage, comes up is when I open it up and discover that the CEO of Humana Healthcare took home $66 million last year.
01:49:23.660
You look at the rest of the C-suite, they might have skimmed a billion dollars out of this.
01:49:27.040
They weren't asked to contribute anything to this story.
01:49:31.500
You would have to have over 4,500 families at my level paying into that system just to pay that one person's salary.
01:49:42.220
This is, so there's a level beyond which, which is, there's a tougher story we have to get to here, but that's just gone off the rails.
01:49:48.440
You ever see that old game show where they put somebody in a plexiglass thing and dollars around and they're trying to grab them as fast as they can?
01:49:54.520
I feel like that's the part of the story we're in.
01:49:57.640
Everybody's just grabbing money as fast as they can because we all know that you can't print your way to prosperity.
01:50:03.500
The money machine turns off at some point, so you might as well grab as much as you can while the fans are still blowing and the money's swirling.
01:50:09.500
Isn't that, I mean, that's market value though, right?
01:50:13.060
I mean, if his company is willing to pay him $66 million, then pay him $66 million.
01:50:21.740
Because they can make, they can make $65 million someplace else.
01:50:30.640
How do you, you can't make it equitable for everybody.
01:50:37.700
We can make it equitable if it's bad for everybody, but we can't make it equitably good for everybody.
01:50:43.860
So the CEO of a major corporation is going to make a heck of a lot more than a worker with less education, with less skill.
01:50:57.380
And I'm concerned because there are some, you know, there are things, you know, some of these CEOs, you know, the banks really bother me.
01:51:13.000
They're out there while they're taking tons of cash.
01:51:16.880
However, I hate to say, you know, CEOs, because how do we know?
01:51:21.720
I mean, that just gets into the mob mentality of get them.
01:51:25.720
Well, in this particular case, I'm talking about a highly regulated industry.
01:51:34.060
Well, it's regulated to the point that in my state, there's no competition allowed, right?
01:51:38.740
I can't buy certain levels of insurance because they've been lobbied out of my state.
01:51:48.660
I will tell you, I'm actually, I'm with both of you here.
01:51:53.180
It is the government, Pat, but it is the CEO's.
01:51:56.600
What did Bill Gates just say his biggest problem was?
01:52:00.440
His biggest problem was that he didn't feel at the time he created Microsoft that they needed the government.
01:52:07.160
His deal was, I'm going to create what I create.
01:52:10.440
Where Apple went and they partnered with the government.
01:52:14.460
He said, Microsoft is paying the price right now because they didn't feel they needed somebody to go in.
01:52:24.980
If you have a fiduciary responsibility, I'm the CEO.
01:52:31.500
If my business competitor is going the other direction and they're going to the government, my fiduciary responsibility, isn't it to go to the government as well?
01:52:42.880
Yeah, but again, that's government intervention and it shouldn't be there.
01:52:47.140
You're right, but how many people have the principles to be able to hold fast, especially when you have shareholders beating you down the door?
01:52:56.940
Here's our sponsor this half hour, My Patriot Supply.
01:53:02.440
You believe any of this is going to come home to roost?
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It's best to be prepared for the worst and then it doesn't happen.
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But if you're prepared for the worst and the worst does happen, then you'll be thankful.
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And right now they're giving away their four-week food supply for only $99.
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That's every breakfast, lunch, and dinner for 30 days, an entire month, plus all the drinks and the snacks and everything else for $99.
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Call 800-200-7163 or you can order online at preparewithglenn.com.
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Units with the $99 price are shipped free and they are limited.
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Chris Martinson is with me today for the Think Tank.
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You don't want to miss that at 5 o'clock today.
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The reason why nobody discusses this on television or radio or anywhere else is it is there's a lot of context to it.
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And it's very difficult to understand in a two-minute soundbite.
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Because everyone everywhere else is telling you the exact opposite.
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fix reason firmly in her seat and question with boldness even the very existence of God,
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for if there be a God, he must surely rather honest questioning over blindfolded fear,