You WILL Pay for All These Bank Failures | Guest: Heather Mac Donald | 5⧸2⧸23
Episode Stats
Length
2 hours and 4 minutes
Words per Minute
151.52696
Summary
Another day, another bank fails, another day in the banking crisis, and yet another bank goes under. Glenn and Stu talk about what happened at First Republic Bank and why it happened. They also talk about a new drug that might be able to help you deal with your pain.
Transcript
00:00:02.880
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What you're about to hear is the fusion of entertainment and enlightenment.
00:02:10.840
Yet another central bank got a phone call from Vladimir Zelensky.
00:02:19.040
And as it turns out, it's not Vladimir Zelensky.
00:02:31.640
So you can be the next central banker when that phone rings and they're like, it's Vladimir
00:02:48.440
And I want to tie it into the lessons I learned today, listening to the New York Times, The Daily.
00:03:00.360
They had some incredible information about the collapse of yet the latest bank.
00:03:10.020
Wait until you hear it, because it opened up a whole new world for me.
00:03:16.240
A whole new way of looking at things and understanding the banking crisis in a deep and significant way.
00:03:29.060
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Stu, did you catch the New York Times the Daily today?
00:04:34.000
But I thought, you know, today, maybe I'll see what they have to say.
00:04:38.780
And I learned so much about the banking crisis.
00:04:56.940
And after these two banks had failed, Silicon Valley Bank, then a couple days later, Signature
00:05:03.980
Bank, the hope, and I'd say the expectation, was that this crisis might be over.
00:05:10.500
In fact, Third Bank, First Republic Bank, collapsed.
00:05:14.360
And it was even bigger as a bank than the previous two that failed.
00:05:18.820
So tell us about why First Republic Bank ultimately went under.
00:05:23.580
I think that what happened at First Republic was sort of a slow motion reaction to what
00:05:28.980
happened at Silicon Valley Bank, that first bank that failed.
00:05:32.200
The other thing is a lot of the sort of assets on First Republic's balance sheet, a lot of
00:05:37.960
its loans, a lot of its, you know, sort of business, isn't actually all that bad looking.
00:05:43.080
It just didn't hold up well in the face of rising interest rates.
00:05:47.160
And JP Morgan has also, in this case, got some guarantees from the government.
00:05:52.500
The government is going to share in losses on the portions of the business that aren't
00:05:58.920
Now, does that mean that the government, and by that, I mean you and me, the
00:06:02.100
taxpayer are now subsidizing JP Morgan Chase's purchase of First Republic.
00:06:07.400
So far, the government has been careful to say that no taxpayer money is being used to
00:06:20.740
This deal is going to cost the government about $13 billion, which is going to be covered
00:06:25.700
by the insurance fund that's paid by every federally regulated bank.
00:06:33.780
But the banks will tell you, and some people outside of the banks will tell you, that while
00:06:39.300
this is paid for by assessments on banks, at the end of the day, that comes back to hit
00:06:44.660
the bank customers because the banks are going to raise the money by charging more fees on
00:06:50.720
mortgages, on bank accounts, on things like that.
00:06:53.820
And so it's possible that you'll still end up subsidizing this, whether it's directly
00:07:02.660
So if you have any relationship with a federally regulated bank, which almost all of us do,
00:07:08.580
you're in one form or another eventually helping to pay for this deal.
00:07:15.040
So if you're JPMorgan Chase, this is a pretty good deal, obviously.
00:07:18.620
But there's something a little bit funny about it, which is that JPMorgan Chase is already
00:07:26.140
And after the financial crisis in 2008, the whole idea was that big banks shouldn't get
00:07:31.740
any bigger, shouldn't be buying up their rivals because they might become too big to fail.
00:07:42.620
I think the message we all took from 2008 was that really big banks can be dangerous.
00:07:48.480
And certainly that was baked into the legislation that we saw passing after 2008.
00:07:52.920
We saw a restriction that said the largest banks in America can no longer acquire really
00:07:58.880
big banks because we don't want too much of the nation's deposit base concentrated at
00:08:08.660
And the exception is that if a bank is failing, a large bank can acquire it.
00:08:15.100
And that's really what we saw come into play here.
00:08:18.580
JPMorgan was also able to offer the least cost option to acquire First Republic.
00:08:23.440
So we learned that big banks were bad and big banks can't grow any bigger.
00:08:51.520
So they can become much bigger, much more cheaply.
00:08:57.660
And I mean, you know, not that the Federal Reserve is playing favorites at all.
00:09:09.500
They were able to designate what parts of it they didn't want.
00:09:13.560
So this is the partnership with the government.
00:09:17.540
No, you gave all of the good assets to JPMorgan Chase.
00:09:30.300
It's like if one building in an apartment complex burns to the ground and then you say,
00:09:35.240
well, I'm going to come in, but I'm not going to take over any of the responsibility for the
00:09:39.640
I'm just going to take all of the nice buildings that are still operating with all renters in
00:09:45.940
I'll take all of those over for 80 percent off the cost.
00:09:54.040
Now, listen, if any of my renters start not paying the rent, you're going to have to take
00:10:02.020
You just you just get money from all the other apartment complexes, which are going to charge
00:10:08.460
all of the other people in those apartments more money to rent their house.
00:10:12.500
So in case some of my renters go down, you can pay me.
00:10:19.860
What a good deal for the United States of America.
00:10:28.920
How many banks does this need to happen to before we have nothing left in this account?
00:10:33.000
OK, so there from what I understand, there was nothing left in the account after we bailed
00:10:39.900
OK, but but that it gets complicated here, Stu.
00:10:58.180
Well, you got to get the ink and the paper, but they're digitizing and that's where it
00:11:10.760
So it gets complicated and probably a little bit too much for you to understand.
00:11:17.760
They say, by the way, $128 billion are in this fund.
00:11:23.020
Now, I know they just said this bank had $120 billion that were people pulled out that
00:11:39.180
So, and we just spent apparently $13 billion on it.
00:11:42.660
Yeah, but you're not going to be, the taxpayer is not going to bear that burden.
00:11:52.340
And the banks will get that money just from people, you know, really rich people, people
00:12:01.020
If you've got a bank account, sure, you're a fat cat who's going to even, you probably
00:12:06.180
have so much, I'm speaking directly to those few people in this audience that have bank
00:12:14.780
You're not even going to notice that's missing.
00:12:35.360
When we were told they were going to make it, because we had all these incredible actions.
00:12:40.940
Except for the stuff that they know about that might be coming.
00:12:43.300
They also borrowed about $50 billion from the Fed.
00:12:50.100
Like, does JPMorgan Chase have to pay that back?
00:13:01.360
I'm just saying that they just don't have any, you know, that money is-
00:13:23.300
Who's, and who pay probably the same damn people that own those bank accounts.
00:13:30.140
You know, we're going to squeeze them to get that money back.
00:13:35.080
If you have at least $250,000 in your bank account, your money is safe.
00:13:38.640
That money is guaranteed by the federal government.
00:13:51.640
I mean, I'm very, I don't know what to do, honestly, at this point.
00:13:56.200
You make sure that you don't have more than $250,000.
00:14:03.380
That is basically what we're all supposed to believe, right?
00:14:25.380
I'm a tad concerned as what the fall might be to that.
00:14:34.980
Inflation is transitory, and the Fed is working on that.
00:14:40.080
In fact, when the call came in from Vladimir Zelensky,
00:14:43.600
who wasn't Vladimir Zelensky, let me tell you something.
00:14:48.160
If your organization can't figure out if that's actually the leader of Ukraine on the phone,
00:14:57.080
you shouldn't have a credit card, let alone be in charge of the Fed.
00:15:04.960
But once again, a central banker is fooled by this group of people that are posing as Vladimir Zelensky and then recording it.
00:15:44.480
Well, let me tell you all my deepest, darkest secrets that I'm not going to tell everybody else.
00:15:49.580
But I'll tell you, Vladimir, because you're trustworthy.
00:15:57.020
No, this is not what he's telling the American people.
00:16:02.120
But what we're going to find is that growth in 2022 was positive but modest.
00:16:13.800
In terms of this year, most forecasts call for the U.S. economy to continue to grow but at a pretty subdued level.
00:16:25.080
Is anyone, does anyone on the planet think that growth of less than 1% is really growth?
00:16:37.600
I mean, I think that's probably in the margin of error.
00:16:40.720
And I honestly, considering what other economists are saying, growth of under 1% would be positive.
00:16:50.440
Compared to what they're actually predicting, which is recession.
00:16:52.740
So he's maybe in the spin zone where he's like, you know, but Vlad, listen, we can keep sending you to those bullets because our growth, our growth is like crazy right now.
00:17:16.400
But we, we would tell you that a recession is almost as likely as, as, as very slow growth.
00:17:28.260
And I think that is partly because of, uh, of us having raised rates quite a bit, but this is what it takes to get inflation.
00:17:39.940
Why are we having a recession according to the Fed chair?
00:17:57.020
This is a whole new concept that raising rates puts people out of work, makes it harder for them to put food on the table.
00:18:11.780
Give me 60 seconds to digest it because there's more coming.
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Because, or we could have a recession according to General Pell, just as likely.
00:20:45.840
We have too many dollars and we have too few goods.
00:20:54.340
You can get people working to make more goods or you can get rid of all of those dollars.
00:21:05.480
The first thing you do, if you want to get rid of dollars, what's the first thing you do?
00:21:16.320
If you are, if you are, your house is underwater because you had a faucet that just blew, a pipe
00:21:27.460
that just blew, what would the first thing you would do?
00:21:42.900
So the first thing you would do, now I'm not a plumber, nor am I a printer, but I am a thinker.
00:21:53.980
The first thing you would do is shut the printing press off.
00:22:06.840
What's the reverse of the government doing that?
00:22:10.080
Is he saying in here that we should stop our out-of-control spending?
00:22:20.200
Instead, he says, we're going to cripple people.
00:22:27.540
Now, I'm going to let you hear it from his own mouth, but there are other options.
00:22:34.740
Again, you know, I don't have my degree, which would, I think, make me blind to all of the real solutions and the real problems.
00:22:46.240
Um, but I don't have a degree in economics, but I think I have some solutions next.
00:22:55.560
Weather's heating up outside, time to pull the cover off the grill and get to work.
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But what we're going to find is that growth in 2022 was positive but modest.
00:24:38.800
In terms of this year, most forecasts call for the U.S. economy to continue to grow but at a pretty subdued level.
00:24:47.980
But we would tell you that a recession is almost as likely as very slow growth.
00:24:58.840
And I think that is partly because of us having raised rates quite a bit.
00:25:03.920
But this is what it takes to get inflation down.
00:25:07.460
To get inflation off of the high – we've had inflation at the highest level in 40 years.
00:25:13.480
To get inflation to come down, what we need is a period of slower growth so that the economy can cool off, so the labor market can cool off, so that wages can cool off.
00:25:26.080
That's the only way we know to bring inflation down.
00:25:28.240
And it can be painful, but there is – we don't know of any painful, painless way for inflation to come down.
00:25:40.900
How are these guys – I mean, what is Vladimir, you know, the fake Vladimir saying to get into these conversations?
00:25:50.560
And to have – he's just calling the central banks and like, listen, it's Vladimir, I want to know – like, tell me stuff that you will not tell your own people.
00:26:01.120
Yes, I'm just calling for confidential information that you want to keep on the QT as we set up a new world government.
00:26:16.060
So, yes, I just – central bank, I just want to know – I know you're not my central bank.
00:26:23.060
I have nothing to do with you, but I want to know, what is your plan?
00:26:31.020
What are they saying to get on the phone with these people?
00:26:36.960
And that they keep falling for it, and this is – we've been talking a lot about AI.
00:26:43.160
Every single one of these people is going to fall for one of these calls.
00:26:49.260
I mean, because – I mean, it'll – no, it'll expose things, you know.
00:26:55.440
Well, no, I think it's great because it'll expose things, and then nobody will do anything about it, which is a total change.
00:27:02.760
So, he says, it's an equal chance that we're going into a recession, and that's a fact.
00:27:10.960
Have you heard that fact said to the American people?
00:27:23.640
So, the only way to do it is to slow growth, slow down labor, and slow down wages.
00:27:41.320
I'm sitting there not having a Bud Light at the end of the bar, and this hoity-toity guy comes to me, and he says, well, we've got to slow growth.
00:27:54.660
Now, I think what he's saying here in bar talk is he's going to throw a wrench into our economy, and then he's going to get a bunch of us fired, and then the rest of us are going to have sucky wages, because that's the only way out.
00:28:23.420
You could tell people to get their ass off the couch and go back to work, because this sugar daddy teat off of Uncle Sam ain't giving you any more milk.
00:28:42.860
We could have a return of labor, which, if labor returns, and we don't have to pay in blood for all that labor, maybe, maybe we could make more products.
00:29:00.540
Then we could also just shut the printing press off for the United States government.
00:29:05.440
Now, he's saying the only way, the only thing we can do is screw the American people.
00:29:12.900
The only thing we can do is hurt the American people, because they don't matter anyway.
00:29:21.000
I mean, the last thing we want to do is piss off Congress.
00:29:25.800
And besides, we're all in it, because remember, I'm the head of the Federal Reserve Bank, a wholly owned private company made up of, well, dare I say it, banks like JPMorgan Chase.
00:29:48.680
Am I, I mean, it's like I'm standing in a, I feel like I'm standing in a crowd and everybody is going, wow, this is fantastic.
00:29:55.780
And I'm like, wait, no, but he's, no, he's saying he's going to put you out of business and he's going to hurt your, I know, but he's really got it under control.
00:30:05.520
No, he's the guy who caused all of these problems.
00:30:24.220
I just feel like I'm standing in a crowd going, would somebody wake up?
00:30:28.920
And you're not even seemingly that worried of the fact that a fake Vladimir Zelensky can get on the phone with Jerome Powell on a video call somehow with AI, which is right around the corner where we are now, you know, we talked to a woman who had not a famous person like Vladimir Zelensky, but her daughter, her daughter, who had like five sentences spoken on the Internet, converted into a hostage tape.
00:30:54.360
Uh, we're on the, we're on the corner of basically any voice being on the phone and you're not going to know if it's the, if it's real or not.
00:31:02.540
And we're going, this is, this is what we're dealing with.
00:31:05.680
The, the, the, not even our federal government can, can, can sift through this.
00:31:10.020
What happens, Glenn, when someone makes a legitimate, seemingly sounding credible threat of nuclear attack?
00:31:19.920
Hey, Putin, uh, we've got Vladimir Zelensky on the phone.
00:31:29.940
What happens when one of our idiotic government officials falls for something like that?
00:31:39.580
Certainly this is, we are, man, we are so screwed.
00:31:45.420
Every one of the ending of the conversations I have about this, these topics are just like, ah, we're so screwed.
00:31:55.440
Instead of saying, I'm so screwed, or we're so screwed, you say this.
00:31:59.720
Wow, it's going to be an interesting time, isn't it?
00:32:01.960
I mean, it's going to be really, I'm fascinated to see how this is all going to work out.
00:32:06.780
Is this some sort of, uh, why would I say that?
00:32:21.960
And so, I mean, we got to do our part, you know?
00:32:25.420
But, when Jesus comes, it'll be like, wow, that Powell cat.
00:32:32.920
I can't wait to see how that works when he's standing at the foot of Jesus.
00:32:44.260
I'm, I mean, I'm here to, uh, point out the guy's a stinking liar.
00:32:50.120
And now that a fake Vladimir Zelensky, uh, bot, talked to him on the phone, we now have the evidence, you know, instead of it a conspiracy theory, we now know.
00:33:02.500
Well, unless it was the real Vladimir Zelensky and Jerome Powell was the AI.
00:33:18.000
Because, I mean, I think, you know, think about this, like, you know, you're watching Breaking Bad.
00:33:24.580
His, his potential drug, uh, empire is, he may go to prison.
00:33:30.520
And that whole time, this is pretty interesting to watch.
00:33:38.480
So, I was just watching, my son wanted to watch Valkyrie with me.
00:33:46.500
And, and the general is, you know, he's like, I don't know, is Hitler dead?
00:33:52.840
And, and I, and I'm, I'm at the couch and I'm like, who cares if he's dead?
00:34:04.020
And sometimes you get into that place where you're like, I can't watch this.
00:34:12.640
We've been walking around our couch going, I can't watch this.
00:34:21.420
This is going to be really interesting to see how this plays out.
00:34:26.960
Because that's the thing that we really have to start doing.
00:34:29.420
You know how you're like, yeah, the kid wasn't seeing, the kid wasn't seeing just dead people.
00:34:44.400
Let's be, everybody's like, I can't wait to see how that turns out.
00:34:59.160
I think this new, non-attached, just disassociated approach to life will make regular life that much better.
00:35:11.000
Now, that doesn't mean I don't take it seriously.
00:35:20.100
Since I'm guessing the ending, I'm not going to be in the one in the movie theater going,
00:35:26.080
and, oh my God, I'll be there going, yeah, I know, I know.
00:35:32.960
By the way, I've got everything packed in my camper.
00:35:39.580
Including your Valkyrie DVD, which I will say, by the way, Valkyrie comes on TV, got to watch it.
00:35:48.280
It's one of those movies, every time it pops up, I'm going through these channels, and I see Valkyrie, that's where I go.
00:35:53.740
And I think it was the first movie made when somebody who had a hand is missing a hand.
00:35:59.480
And the CGI, just the hand and the eye, great stuff.
00:36:03.240
You know, he'll pop his eye out, he'll turn his back, and you'll see him grab the glass eye, and he's like...
00:36:08.740
And he puts his eye back in, and then you're like, it's not the same color.
00:36:15.720
That's the kind of stuff that led us to this Vladimir Selinsky call.
00:36:21.900
You take a moment every now and then, peek out of the blinds, and go, gee, how's this movie going to end?
00:36:34.680
It'll be like, at the end of this movie, it'll be like, fire!
00:36:38.520
And everybody will stampede each other, but you will be driving away in your camper.
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But definitely not anybody in the PR department of Fox News.
00:38:19.080
Because Tucker was taking some shots at Fox Nation, saying he didn't like the way the
00:38:25.900
And then some, I guess, international spy broke in and took the footage from inside of
00:38:37.280
An organization which they supposedly have a bad relationship with, you know?
00:38:43.740
Media Matters is one of these places that takes shots at Fox News.
00:38:47.320
It's almost, some would say it almost sounds like they just almost work together to try
00:38:57.980
It'll be interesting to see how that plays out.
00:39:08.280
So this is the bad stuff that was just somehow or another leaked.
00:39:42.140
I don't want to be a slave to Fox Nation, which I don't think that many people watch
00:39:47.260
We're going to, because I, you know, I'm like a representative of the American media.
00:39:51.660
Now, speaking to an exile in Romania and welcoming him back into the brotherhood of journalists.
00:40:00.220
It would help us out if you wore a sweater, though, because we asked him not to wear a suit.
00:40:20.120
I mean, this is airing on the nighttime show, and I want it to look official.
00:40:29.980
Yeah, but the majority of it, like if we go like 45 minutes, it's going to be for Fox
00:40:36.420
Nobody watches Fox Nation because the site sucks.
00:40:39.300
So I'd really like to just put the dump the whole thing on YouTube.
00:40:47.960
I'm just frustrated with, it's hard to use that site.
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And they're like making like lifetime movies, but they don't, they don't work on the infrastructure
00:41:02.160
And it drives me crazy because it's like, we're doing all this extra work and no one
00:41:08.240
I don't even understand why this is supposed to be negative.
00:41:15.720
I mean, he's obviously frustrated, but he's still being respectful and he doesn't want
00:41:21.980
His audience is 50 times, 100 times the size on the television show.
00:41:26.880
Hey, listen, we just want you guys to, you should wear a sweater.
00:41:53.080
So much of the goodness in all of us comes from our mothers.
00:41:58.620
I am wearing an American giant hoodie right now.
00:42:07.260
You could tell the quality of it the second you put it.
00:42:10.000
You could tell the difference in quality with this thing.
00:42:13.100
So American giant, they've got a bunch of great clothing.
00:42:17.480
And mom is, Mother's Day is right around the corner.
00:43:03.780
What you're about to hear is the fusion of entertainment and enlightenment.
00:43:26.020
I, I'm going to, I've got, I've got to, uh, well, I'm going to lead with a story about
00:43:37.160
the sex change clinic in Philadelphia and, uh, the information they're providing students.
00:43:44.280
But I, you're going to think I'm making part of it up, but I, in this world, you can't,
00:43:52.560
you know, I mean, you can't write comedy anymore because it writes itself.
00:43:59.700
When you go to the gun range, you mean business.
00:44:02.720
I mean, it is fun blowing holes in paper targets.
00:44:06.140
Uh, but the cost of ammunition, every time, every time I pull the trigger, I'm like, ow,
00:44:13.420
Uh, training yourself to become better and, and better every shot you take is really important.
00:44:20.040
You have to have the ability to defend yourself and your family, should you ever need to do
00:44:25.580
But whose money is, uh, is going to be used to just pay for the ammunition, let alone a
00:44:32.120
You don't have to use ammunition and you don't have to use a coach.
00:44:36.460
You can use ammunition if you want with Mantis X, but you don't have to.
00:44:46.240
You can aim at, you know, if I'm sitting here in the room, I can aim at the clock or the
00:44:51.240
TV or the camera or, well, I wouldn't aim at, well, I don't want to say I wouldn't aim
00:45:02.200
Um, and, uh, and with Mantis X, every time you pull that trigger, whether it's loaded or
00:45:08.860
unloaded, it tracks exactly what your hand and your finger is doing.
00:45:13.980
So you improve within 20 minutes and I can verify it.
00:45:19.000
I can't believe how much more accurate I was after 20 minutes.
00:45:46.340
That's what the Children's Hospital of Philadelphia does.
00:45:50.140
Well, they've got a gender clinic that also offers medical interventions for kids as young
00:45:55.280
as eight, uh, in addition to the clinic providing, uh, children with devastating puberty blockers.
00:46:03.140
They also, uh, have previously advocated for confused little girls to have their healthy
00:46:09.120
breasts cut off, uh, and for other varieties of, uh, mutilation.
00:46:14.980
In recent years, the clinic has gone beyond exploiting and, uh, making things worse with
00:46:23.320
Uh, they're now training elementary teachers to do likewise.
00:46:34.940
I'm, I'm, I'm just, I'm reading what the news is saying.
00:46:41.260
And as I'm reading it, I'm thinking the Children's Hospital of Philadelphia should not use this
00:46:49.580
acronym when we're talking about gender mutilation.
00:46:54.800
The Children's Hospital of Philadelphia, otherwise known as CHOP.
00:47:07.380
The CHOP gender clinic, uh, provides guidance to educators in Pennsylvania and, uh, Council
00:47:17.140
Rock school districts, uh, in 2019 and 2021 on how to facilitate kids as young as kindergartners
00:47:23.280
changing their gender, according to a new report, uh, on CHOP.
00:47:29.800
You know, again, well, actually I am a doctor, uh, and, uh, so I can say it, I can say it
00:47:42.440
If you really, you want to be taken seriously, um, and you want to be known as a non-butchering
00:47:50.060
hospital, which you clearly are with a gender mutilation here.
00:47:55.000
You might want to stay away from the acronym of CHOP.
00:48:05.760
Now, uh, I just, I want to understand the bigotry here.
00:48:12.920
There is a Delaware County Councilman, Ryan Webb.
00:48:23.960
Uh, he has announced on Facebook after much consideration, I have decided to come out and
00:48:30.940
finally feel comfortable announcing my true authentic self.
00:48:34.480
It is with great relief that I announced to everyone that I identify as a woman and not
00:48:47.180
Furthermore, I guess this would make me gay and lesbian since I am attracted to women,
00:48:55.780
but I'm excited to bring some diversity to the city council or the county council until
00:49:01.280
today, we didn't have any females of color or LGBTQIAPC plus on the council.
00:49:53.080
Uh, so to avoid confusion, everyone can still address me as Ryan or as council.
00:50:00.320
Uh, I also retain my preferred pronouns of he slash him.
00:50:06.400
However, this will in no way diminish my true identity as a woman of color.
00:50:11.040
I'm excited to be a vocal partner of the LGBTQIAPC plus movement.
00:50:20.400
Who I, I don't, I'm, I'm not down with it, Holmes.
00:50:55.920
They say, chat GPT says the C stands for cisgender, and that's a term to describe individuals
00:51:00.760
who gender identity matches their sex assigned at birth.
00:51:34.120
Lesbian, gay, bisexual, transgender, queer, or questioning, which again is two separate
00:51:42.900
Then you have I, intersex, A, asexual, or ally, which is a real, I mean, you're really
00:51:51.520
Uh, then P is now pansexual or polyamorous, and C is cisgender.
00:51:59.160
The plus sign represents other identities that may not explicitly be included in the
00:52:03.860
acronym, such as demisexual, genderqueer, genderfluid, and others.
00:52:11.180
It emphasizes inclusivity, acknowledges the diversity within the community.
00:52:19.420
Why do you need the other ones if you have a plus?
00:52:27.460
I am trying to tell you about Delaware County Councilman Ryan Webb, who is now a black woman.
00:53:02.140
Can I have a moment that you've had many times on the air, which it goes back to the Monica Lewinsky days when you said we were having the argument with the left and they were saying, oh, he didn't do that with Monica Lewinsky.
00:53:21.800
And you said at the time, what we needed to ask was, let's say he did do it.
00:53:31.180
If he did do it, let's not argue about whether he did it.
00:53:36.860
Because what wound up happening is he did do it.
00:53:41.400
After arguing for six months that he definitely didn't do it.
00:53:47.400
Can we have one of these moments here together?
00:54:05.680
I'm talking to the people on the other side of this.
00:54:14.000
My thing here is, though, when, when, don't argue whether this is going to happen.
00:54:21.020
But when Dylan Mulvaney comes out, not just as a woman, but as a teenage girl, when he
00:54:29.540
announces he is a teenage girl, are you going to accept it?
00:54:48.420
Because I think now, before he says it, they'll say, of course, he's not going to do that.
00:54:55.860
That's one of the more sane things that happen in the media.
00:54:58.980
When it happens, it'll be like, well, that makes sense.
00:55:13.720
And at some point, he will manufacture a new age.
00:55:21.440
I want to know now, not then, when all of a sudden you say it's hateful.
00:55:26.260
I want to know now, do you accept his 13-year-old age?
00:55:45.660
Can I please tell you about the glass ceiling that Ryan Webb,
00:55:52.160
We're back on the Ryan Webb thing, which is, their name is still Ryan?
00:56:06.760
And his message was, I am so glad that this is now possible,
00:56:23.100
I'm honored to be the one that shatters the glass ceiling.
00:56:28.960
Now, there is someone also on the council, Charlize, Charlene Jamison.
00:56:40.060
Now, Charlize is a biological male, but she was reading this, and she said,
00:56:50.680
I think he's making fun of this whole situation.
00:57:00.340
And she said, he has a history of making transphobic comments.
00:57:07.420
And she said, it's easy for me to see through his bigotry.
00:57:17.640
But the only thing required is for him to say it.
00:57:40.360
Um, but as a guy goes, she's a good-looking woman.
00:57:53.540
And I think what he's saying is, this is ridiculously stupid.
00:58:08.840
How can you deny me my moment if whatever I say has got to go?
00:58:15.940
And I, you're questioning his internal journey?
00:58:23.460
My understanding was the only time you were able to deny someone saying they were LGBTQQIA2 plus is when they commit a mass shooting.
00:58:30.500
Then, immediately, you can say, oh, they're not real.
00:58:42.660
So far, we don't know if Ryan, he might have killed some children.
00:58:51.840
Now, I do have one more question on this topic.
00:58:56.560
And a friend of mine gave it to me yesterday and said, and I thought, I've not thought that.
00:59:23.060
I'm going to, and I think you're going to like it.
00:59:26.600
And if you're a parent at a school that is doing drag shows, I think you're really going
00:59:36.360
No matter how smart your dog is, I promise you, he isn't smart enough to make a healthy
00:59:47.440
But they'll sniff at salads and they'll be like, ick.
01:00:05.660
Now he's either stupid, which he's not, or he knows that I should be eating a salad.
01:00:19.960
It's like a salad for people who claim to hate salads.
01:00:27.540
My wife sprinkles it on my food, but that's a different story.
01:00:40.220
Rough Greens.com slash Beck or call 833-GLEN-33.
01:00:51.400
At any minute, I could pee myself and just wander away from the microphone.
01:01:15.020
I want you to think this through with me, okay?
01:01:21.000
What is the point of having drag shows in classrooms?
01:01:31.700
there is no except for sexualizing our children and preying on them.
01:01:39.040
What's the reason to have drag shows in schools?
01:01:51.760
Two, make your kids comfortable exploring their sexuality.
01:02:00.320
No, I'm not asking for you because you're a bigot.
01:02:13.220
You want your children to explore their sexuality and be comfortable with it.
01:02:29.640
I would like to know, and I would help you set this up.
01:02:35.860
I would like to know if there's somebody who's having this problem in school and they want to go to a school board meeting surrounded by really extremely hot Playboy bunnies and demand equal time so your kids can also enjoy a nice striptease from beautiful hot women.
01:03:02.060
And then we can bring the Chippendales in and they can dance, but they dance with the Playboy bunnies.
01:03:11.500
And they gyrate on each other in a cisgender sort of way.
01:03:18.240
So they can explore the potential, however unlikely, that they might be straight.
01:03:24.240
I mean, it's probably a one in a million chance.
01:03:28.920
A hundred and forty-seven percent of our population is transgender or gay.
01:03:37.280
A hundred forty-seven percent of all people are gay.
01:03:42.180
Or LG or B or T or Q or Q or Q or Q or I or A or two or plus.
01:03:46.560
And I'm not even counting the two-spirited people.
01:03:56.880
Hey, Playboy bunnies and stripper poles, you go ahead.
01:04:02.080
Take that one to the Department of Edge and just ask them,
01:04:05.700
hey, we're just trying to make sure they're exploring their sexuality.
01:04:31.560
When are you going to buy this stinking stuff so I can stop talking about this stinking stuff?
01:04:44.140
Then buy it, get out of pain, and I'll stop talking about it.
01:04:56.320
Seventy percent of the people who try it go on to order more.
01:04:59.900
So when 100% of this audience tries this and 30% write to me and go, stuff sucks, it didn't work, and the rest of you all say, it worked for me, we can move on with our lives.
01:05:18.500
Try the three-week quick start and get out of pain.
01:05:57.940
The owner of a Bloomington, Indiana dive bar who voiced support for Bud Light and threatened to remove customers for speaking out against Bud Light.
01:06:12.340
Bud Light is now on Facebook saying, we appreciate your support because I kicked all these hateful bigots out.
01:06:21.720
And if you want to stop by and have a beer, please do.
01:06:25.760
Because he's kind of following in the footsteps of Bud Light.
01:06:33.580
And, yeah, he's lost his patrons because he said they spewed bigotry and hatred regarding Bud Light's advertising partnership with Dylan Mulvaney.
01:06:45.280
And, you know, so the bar is still celebrating the 365 days of girlhood of Dylan Mulvaney.
01:07:07.180
And coincidentally, in complete coincidence, so is Anheuser-Busch.
01:07:13.860
Now, I saw this story today from the Washington Examiner.
01:07:17.660
Anheuser-Busch employs ex-GOP aides for damage control, and they've hired Sean McClain, and that's what, you know, a legislative director for Senator Ted Cruz, and then another person that was also with Kelly Ayotte from New Hampshire.
01:07:45.400
She's also a Republican, and they're working now for Bud Light, trying to, you know, get things back.
01:07:52.720
Bud Light, may I just say, I didn't really have to even go into this story at all.
01:07:58.780
When I saw that you hired two ex-GOP aides for damage control, I thought, boy, you still don't get it.
01:08:27.160
They're not going to just like, oh, let's fold the company.
01:08:33.000
Someone who probably understands conservatives.
01:08:37.140
How do we apologize for this appropriately, essentially?
01:08:43.120
Well, I don't know what Ted's going to say, but neither do they.
01:09:01.140
And then just, and then just, and then hope that people forget.
01:09:19.960
Yeah, as the gods of the copybook headings with terror and slaughter return is the Rudyard Kipling last line of the poem,
01:09:30.820
gods of the copybook headings, which is truth returning to a people that have completely disregarded the truth, made truth.
01:09:42.060
Things like, you know, horses and ponies have wings and wishes are pigs.
01:09:57.760
And when that, when your society has gone so far off the track, it takes a toll when you finally return back to the truth.
01:10:07.040
And America is returning back to the truth, whether you, whether you like it or they like it or not, it's returning back to the truth.
01:10:18.700
So, uh, shareholders have requested that Coca-Cola's board of directors issue a public report prior to the December 31st, 2023,
01:10:31.440
admitting confidential information and, uh, at a reasonable expense, detailing any known and potential risk or cost to the company caused by enacted or proposed state policies,
01:10:45.580
severely restricting reproductive rights, and detailing any strategies beyond, uh, litigation and legal compliance that the company may deploy to minimize or mitigate these risks.
01:10:59.800
A nonprofit that proposes ESG policies to companies, um, which is called, as you saw, well, that's clever or just stupid.
01:11:12.320
87% of the controlling shares voted against their proposal.
01:11:20.060
What their proposal was, we're not going to ship Cokes to, uh, states that don't, uh, allow abortion.
01:11:33.900
Oh, I said, we're not going to ship Coca-Cola to states.
01:11:45.900
And so now they're like, we'd like to see how you're coming up with these great, uh, proposals, please.
01:11:53.620
Uh, I think this is an interesting thing to think about this as we look at a long-term response to wokeness.
01:11:59.840
How do you systemize this and what, what are you trying to do?
01:12:06.280
And what's, what are you trying to accomplish when you look at it, at these companies, right?
01:12:10.460
So we did a show, uh, last night on Studos America, by the way, if you're looking for a show at 8 p.m. Eastern, just because maybe one of your favorite shows just got canceled.
01:12:17.620
It's available, 8 p.m., YouTube, Blaze TV, Pluto TV.
01:12:24.500
Um, but we went through the five levels of corporate wokeness, okay?
01:12:29.000
And so you have, number one, company that is woke and proud of it, right?
01:12:35.260
They, any liberal policy that comes out, they're in full endorsement.
01:12:41.840
And they've smoked enough dope to where they don't care.
01:12:45.500
So you can boycott Ben and Jerry's all you want.
01:12:48.720
But they're not going to change a policy because to them, wokeness is more important than selling you ice cream.
01:12:56.340
Neutral to the public, but woke in the boardroom.
01:13:00.440
These companies that act like, they're just normal companies, but their activity in the background is always...
01:13:09.260
Where they're donating all their money to Planned Parenthood and all this stuff.
01:13:12.700
But they act like the normal company that's just trying to serve you and sell you cell phone service.
01:13:18.440
Because I've got the screaming of all of these babies that are dying right now in my other ear.
01:13:30.060
They're not neutral to the public and woke in the boardroom.
01:13:33.380
They did a bizarre sort of outreach to Dylan Mulvaney publicly and then are trying in the
01:13:48.480
And I think that's the type of person that is affected by the ESG score, right?
01:13:51.960
They're not necessarily a woke company, but they see these pressures coming in.
01:13:56.940
They think maybe it's the right stance to sell product to be woke.
01:14:04.160
They're taking positions to try to act, like, to get new demographics in.
01:14:18.440
Back in the day, everyone was just like, you know what?
01:14:25.500
If you don't want to buy them, now, I don't know if there's any.
01:14:31.060
Maybe there's some, but almost everybody seems to have some political bend.
01:14:35.220
And then the last one is, like, you mentioned Verizon earlier, the Category 5, not woke
01:14:44.260
Where Patriot Mobile is just like, yeah, we're not woke at all.
01:14:49.400
We're a pro-life Christian company, and we stand on that.
01:14:52.060
I think there's the other category of pretty hostile to the woke thing, but have to do
01:14:59.040
it because of what it would mean for the stock price.
01:15:14.400
I think a good majority probably are hostile to it, but when sitting down, they're just
01:15:23.480
I think of that as that neutral in the boardroom.
01:15:25.800
But you're right, neutral to anti-woke in the boardroom, right?
01:15:32.760
So, number one, I think that's probably the best target for an outreach campaign from conservatives
01:15:41.400
who are frustrated by this, people who actually are doing this because they think it's the
01:15:59.180
Well, but you just said, when they did this dilemma of anything, that it's over.
01:16:07.400
Is there something they could do to make this right?
01:16:15.460
It's not like the Clydesdale can go out and say, but they feed me oats.
01:16:20.560
And the same kind of yummy oats and hops that are in this Bud Light.
01:16:27.020
What can they possibly do that you will believe?
01:16:31.560
When you betray the truth that hard, this is why sane Democrats are jumping off the Democratic
01:16:48.080
But like, isn't there something in this situation?
01:16:50.960
Logically, shouldn't we be asking for something?
01:16:54.640
Like, what happened with Bud Light is they came out and they made a statement, which was
01:16:58.460
not incredibly strong, but not incredibly weak either.
01:17:01.400
They were basically saying, like, we went out of this.
01:17:04.540
And then the people responsible were suspended.
01:17:11.100
There has to be something we're asking for if...
01:17:18.680
I don't want to say, we'll let you go ahead and sell your beer as long as you do X, Y,
01:17:31.600
They say, look, we're taking no stance on anything unless it has to do with crypto.
01:17:38.940
Once you've crossed the Rubicon, I don't think you get your credibility back.
01:17:47.360
And look, I'm not defending Bud Light because I don't like what they did here.
01:17:51.120
And I don't like the fact that they hired someone initially, right, whose stated goal
01:17:56.020
was to remake this brand because it became too fratty.
01:18:01.120
They shouldn't have done that in the first place.
01:18:02.780
But like, at some point, if they do something...
01:18:06.900
If someone does something that's wrong and you think it's wrong, usually what we would
01:18:21.640
You never believed in Bud Light's credibility as a bunch of human beings.
01:18:25.920
They're just a nice watery beard that's really available.
01:18:30.860
I don't know how I can express this in a different way.
01:18:41.820
And when you've betrayed, I'm sorry, you can be nice.
01:18:55.600
I'm not going to support you because I'm an alcoholic.
01:19:00.920
But beyond that, I wouldn't be drinking Bud Light right now because I feel betrayed by you.
01:19:09.340
If you show your record is strong over time and you don't do this again.
01:19:12.640
And you might want to look to do things that are standing behind, you know what, Bud?
01:19:24.080
And I don't know if I would even accept it, but something like this.
01:19:29.160
Put our American Museum that is teaching the truth about America, you become the national sponsor of it,
01:19:36.560
and pay for it to go on the road for the next year.
01:19:40.480
Now, they would say, of course, then we're taking a stance on the right.
01:19:45.140
Since when is American history associated with you?
01:19:54.480
They would associate with girl power, but not somebody who believes in the Constitution.
01:19:59.740
I am literally on this show and have been for 25 years and I don't want to associate with you.
01:20:08.440
And I'm not saying that that would be a quick fix.
01:20:12.200
You know, there would be a lot of people that would go, I'm going to go, but Bud Light, what were you doing?
01:20:29.980
A brand that you thought would be around forever because you need bed stuff and you need bath stuff and sometimes you go beyond.
01:20:45.340
Patriot Mobile is one of those companies that Stu said.
01:20:54.780
They are for your free speech, your religious freedom, sanctity of life.
01:21:00.860
They have a stance on drag and any real strippers, drag or not, in your classrooms.
01:21:08.100
They actually are moms and dads of kids, of actual kids that they claim are theirs.
01:21:19.720
These are the kinds of people and companies that we need to support.
01:21:33.920
Ask about their coverage guarantee while you're there.
01:22:08.960
Trading has been halted a couple of times from what I understand today on Western Alliance Bank and PacWest Bank.
01:22:22.580
It's definitely – it's – these banks are fine.
01:22:29.680
Well, we've already stepped in, Glenn, and the government has shown it has – giving full confidence to the markets, which is why, of course, these stocks are all down and stopping trading multiple times in a day.
01:22:40.520
Yeah, because, I mean, we have full confidence in the federal government.
01:22:46.500
So I am anxious to see which secret Fed bank – you know, a bank that we're not supposed to know belongs to the Fed – which one's going to get PacWest and which one will get Western Alliance.
01:23:00.620
Will it be J.P. Morgan Chase again or Citicorp or Bank of America or maybe Wells Fargo?
01:23:13.780
It's no secret there's been a war on comedy lately.
01:23:17.520
You're hardly ever allowed to joke about anything these days, but Blaze TV is embarking on a comedy safari.
01:23:25.900
We've got our hatchets out, and we are going to clear the woods.
01:23:30.620
We're launching this comedy mission this Thursday, May 4th, releasing our very first full-length comedy film.
01:23:43.160
It's a mockumentary that follows cast and crew of a small community theater as they struggle to reopen during the heart of the COVID pandemic.
01:23:53.160
It touches on everything, and it's really funny.
01:23:57.300
Join us Thursday, May 4th, 8 p.m. Eastern for the premiere of Reopening, streaming a live pre-show on YouTube and Facebook with members of the cast.
01:24:07.880
But the movie itself will be available exclusively on Blaze TV.
01:24:12.260
So join us, blazetv.com slash reopening, and use the promo code reopening.
01:24:20.680
Blaze TV.com slash reopening, promo code reopening.
01:24:43.540
What you're about to hear is the fusion of entertainment and enlightenment.
01:25:16.060
Hello, America. Welcome to the Glenn Beck Program.
01:25:19.200
How do we get our country back on its feet again?
01:25:28.300
How do we trust police, people who have always trusted the police?
01:25:32.060
I have, but I saw too many police officers arresting people because they wouldn't take the COVID virus or vaccine.
01:25:44.960
They were out by themselves in a park, you know, playing football with their kid, and they had to go to jail.
01:25:57.100
How do we get out of this inflationary situation that we're in when Jerome Powell says,
01:26:03.360
well, we've got to cut jobs, we've got to cut wages, and we have to just slow the economy down.
01:26:12.060
Well, there's another way we can become more productive, but that requires us to be people of merit.
01:26:27.700
Here's a real review from GenuCell customer Claire.
01:26:33.020
My skin feels so good, tighter, younger, with a more evil tone.
01:26:52.100
You don't need to go get sliced and diced somewhere with plastic surgery.
01:26:59.640
This is a recipe made by a compounding pharmacist in small batches.
01:27:06.760
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There's a book out called When Race Trumps Merit.
01:27:44.220
It's written by Heather McDonald, and she's with the Manhattan Institute.
01:27:56.200
So, do we ever get back to merit in this country?
01:28:01.160
We could, with relative ease, but it requires courage.
01:28:05.820
So, all it takes is courage to stand up to the phony charge of racism and to say that standards are not racist.
01:28:15.600
The racial disparities in our country are not due to racist standards.
01:28:26.860
But right now, the American civilization should not be apologizing for itself.
01:28:37.660
But what we're doing is tearing down meritocratic standards across the board, whether it's in medicine, science, law, the arts, policing,
01:28:49.880
all because those standards are being accused of having a racist impact on underrepresented minorities.
01:29:07.720
They will over time, I suppose, if they just don't do more stupid things.
01:29:12.660
However, you know, this has infected everything.
01:29:17.500
The reason why Bud, you know, was rejected here is, I don't want any of this crap.
01:29:37.480
I mean, everything's about politics, but a lot of it is about race.
01:29:41.920
And we need people in medicine to stand up and say, I'm an oncologist.
01:29:47.740
I have devoted my life to trying to cure cancer.
01:29:51.100
I am not going to accept the charge that is coming out of the federal government, out of the National Institutes of Health, out of the National Cancer Institute, that medicine is racist.
01:30:02.780
I am not going to accept the charge that's coming out of our scientific journals that says that science is racist.
01:30:11.160
If people started saying that and refusing to put their heads down and go along with the elites and defend meritocratic standards that are colorblind, objective and constitutional, the whole thing would collapse.
01:30:28.720
I will tell you, especially when it comes to medicine, the fact that if you are underprivileged or intersected in any way, shape or form,
01:30:42.640
you get into medical school much faster than somebody who just happens to be really, really smart and gifted, wants to be a doctor, but they have no intersections on them.
01:30:55.780
Then the good ones are being kept out are just for our our new balancing act that we're doing.
01:31:06.980
We are going to really suffer a consequence because the best doctors are not going to be the best doctors because they weren't they weren't allowed in.
01:31:18.400
Black and Hispanic seniors are being accepted to medical schools with scores on the medical school admission test and GPAs that would be automatically disqualifying if presented by whites and Asians.
01:31:33.040
That's based on the phony charge that those medical school admissions tests are racist.
01:31:37.820
They are not. There are schools that are waiving them entirely for black students.
01:31:42.640
And when students are admitted with lower qualifications than their peers, they understandably and predictably struggle.
01:31:52.900
It's the fault of the admissions officers that are subjecting the so-called beneficiaries of racial preferences to an absolutely unfair handicap.
01:32:01.960
But they struggle. And guess what? The next step has been get rid of further standards.
01:32:06.900
So we have now dismantled the step one of the medical licensing exam, which comes after the second year of medical school to test students' basic knowledge of anatomy, physiology, drug interactions.
01:32:26.680
We changed it from a graded system to a pass fail system to cover up the fact that blacks are not learning as much.
01:32:35.020
So they get passed along, and then the pressure is on medical school hiring committees to hire on the basis of race, not merit, put people on hospital staff on the basis of race, not merit.
01:32:46.540
The American Medical Association, the American Association of Medical Colleges is all behind this.
01:32:53.580
You read their documents, and it's like reading something out of a black studies class.
01:32:59.120
I have doctors on a daily basis sending me pronouncements from their associations of hematology or oncology or neurology, people trying to cure Alzheimer's disease, that are saying everything from now on has to be about anti-racism.
01:33:16.720
This is a lie, Glenn, and the scab thing is that people are still terrified.
01:33:24.440
They're terrified of losing their jobs if they stand up to this narrative, but that is what it's going to have to take.
01:33:35.120
We have to take it back ourselves and start telling the truth that though this country had a deplorable, heartbreaking history of gratuitous cruelty towards blacks that I think actually the conservative narrative about America does not sufficiently account for, we are not that country today.
01:33:57.460
The reality is frankly black privilege, not white privilege, I don't know a single high school senior who is black who is putting down his race as white, thinking that that will improve his chances for admissions, but I know a lot of white males who are wondering if they can get away with putting down their race as black because they know perfectly well that that will give them an enormous, enormous admissions boost.
01:34:24.900
These are not the ways of a white supremacist country.
01:34:31.480
Heather, these organizations keep coming up with the same point, which is of course we want the best doctors, we want the best people here, but we also want a diverse staff, we want to make sure we're hitting those diversity goals as well.
01:34:49.480
Unfortunately, and Glenn, this is a difficult thing to talk about.
01:34:53.280
It violates racial etiquette, people don't want to hear it, it makes them uncomfortable, but given the size of the academic skills gap right now, and let me give you some data, blacks are, if you look at 12th graders, black students, 66% of 12th grade black students do not possess even partial mastery of 12th grade math skills.
01:35:16.220
That means doing arithmetic, 66% are below basic, the number who are actually advanced in math is too small to show up statistically on a nationwide basis.
01:35:30.720
This means it is mathematically impossible to have proportional representation in our meritocratic STEM organizations.
01:35:38.980
You can have diversity or you can have meritocracy, you cannot have both.
01:35:44.680
Diversity, here's a translation key for your listeners, Glenn, diversity is simply code word for racial preferences.
01:35:54.200
When any institution is saying we're doing diversity, it means we have double standards, we're lowering our standards in order to create diversity,
01:36:02.540
because right now you cannot have both diversity and meritocracy, and we have to start standing up for meritocracy and say we'll solve those skills gaps,
01:36:13.300
but the way to solve them is not to tear down our standards.
01:36:17.720
So usually, I mean, I would hate to be a Christian missionary in the good days, and my zone is, you know, the Wall Street area,
01:36:33.800
because nobody successful, nobody, you know, at the top of their game is miserable enough to question, what am I doing wrong?
01:36:42.540
Right now, the American people are not deeply questioning, but when medicine, for instance, starts to go down,
01:36:52.640
and you have, you know, bad service, we become more like Venezuela or Cuba, then we'll ask, but it will be too late then.
01:37:03.280
How do we get people to understand today what's coming our way?
01:37:08.440
Well, they've got to get the facts about what's going on.
01:37:15.520
I would say that you start with the people with power, the people that are seeing it.
01:37:21.360
Again, I'm getting this avalanche of material for people that do know what's going on from the doctors,
01:37:30.600
from the scientists who see that their entire life's work is being jeopardized and torn down by this diversity obsession.
01:37:43.340
So can you give me any examples, any stats or anything where you're seeing the impact now?
01:37:55.920
I mean, I've seen, for instance, people, for heads of medical schools, which is important,
01:38:04.180
the heads of a medical school are going to set priorities.
01:38:12.920
I have seen the candidates that are chosen, and I have seen people with enormous cancer research success,
01:38:23.440
just the leaders in the field, not get the job because they're white males.
01:38:29.500
And the people that do get the job are, as you say, intersectional.
01:38:33.320
As far as being able to point to somebody dying because he comes through the emergency room after a car crash
01:38:42.820
and he gets a racial preference beneficiary, I don't see that.
01:38:47.820
I can see in the area of public safety, I don't see it yet, but it will happen.
01:38:53.820
But I can tell you that this disparate impact thinking that I write about is taking lives in public safety.
01:39:01.380
You know, if your listeners, Glenn, are scratching their heads and saying,
01:39:06.000
what the heck is going on in law enforcement today?
01:39:08.880
Why are all these prosecutors not prosecuting the law, you know, overlooking theft,
01:39:15.720
turnstile jumping, shoplifting, trespass, assault, disorderly conduct,
01:39:21.320
and just saying we're not going to do anything about it.
01:39:23.820
The reason they're not doing anything is because of disparate impact.
01:39:27.480
Were they to enforce the law in a colorblind, neutral, constitutional fashion,
01:39:32.800
it will have a disparate impact on black criminals, not because the law is racist,
01:39:38.040
but because the crime rates are so much higher.
01:39:40.200
When you back off of policing in the name of disparate impact,
01:39:44.540
when you back off of prosecution in the name of fighting disparate impact, lives are lost.
01:39:50.200
2020 saw the largest one-year increase in homicide in this nation's history, 29%.
01:39:56.900
Carjackings are spreading out of the inner city into the suburbs.
01:40:01.340
People are having, you know, their jewelry torn from their necks, eating outdoors in restaurants.
01:40:07.940
We see the flash mobs that have been going down the Magnificent Mile in Chicago for years
01:40:14.440
because they fear no consequences for their action.
01:40:19.320
So certainly in the field of public safety, we are seeing lives being taken,
01:40:24.380
and overwhelmingly they're black lives, they're black children who are being gunned down
01:40:28.620
and drive by shootings to not a peep of protest from the Black Lives Matter activists.
01:40:40.440
They're being shot by blacks, and therefore those black victims are of no concern
01:40:45.360
to Al Sharpton or Benjamin Crump, the ubiquitous civil rights attorney.
01:40:50.680
So this is a philosophy that disparate impact is inherently racist that must be fought,
01:41:05.220
China is going full speed ahead with its nanotechnology.
01:41:11.300
It is grooming its students for the most challenging mathematical tests possible.
01:41:20.900
It just wants to throw everything it's got at its gifted and talented programs.
01:41:25.020
Meanwhile, here in the U.S., we are dismantling gifted and talented programs.
01:41:29.520
We're saying you may be gifted in math, but you're not allowed to excel because it will
01:41:37.760
We will not have 13% at this point black students in our gifted and talented programs.
01:41:44.520
Therefore, nobody should be in a gifted and talented program.
01:41:48.440
We don't want you to do calculus in the ninth grade if you're capable of it because you will
01:41:56.580
This is a death knell to freedom, to capitalism, and to everything that we have built if we
01:42:08.160
The name of the book is When Race Trumps Merit.
01:42:11.120
The author you've been listening to is Heather McDonald.
01:42:13.880
She's from the Manhattan Institute, where she is a fellow.
01:42:17.160
Again, the name of the book is When Race Trumps Merit.
01:42:29.120
First Republic, 90% of its value in the last six months, gone.
01:42:33.900
But good thing JPMorgan Chase was there to absorb it.
01:42:40.360
We have PacWest and Western Alliance that are losing all kinds of money and being shut down
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Glenn, I'm also very worried about the loss of merit in this country.
01:44:13.400
And, you know, you have that situation where there was a controversy.
01:44:19.180
And someone was on TV and some liberal asked them, well, you know, you keep talking about
01:44:28.220
And, you know, the controversy was about, you know, there was a pause before she answered.
01:44:37.520
And to me, one of the central parts of that is just the dissolving of merit in this country.
01:44:46.180
I think that started a long time ago when I hired you.
01:44:52.700
I mean, it's like everybody in America heard that and they were like, what the hell?
01:45:03.400
And being here for 25 years with you, I've wondered about my own standards.
01:45:08.980
But it is, like, I do think that's central to what we're fighting here.
01:45:13.360
It's not like just this feeling of liberal annoyances and tweets.
01:45:17.520
It's this idea that we're losing something really fundamental to the country's success,
01:45:21.920
which is we care about merit and they cared about class and they cared about race and other
01:45:26.100
countries cared about kings and queens and princes and all that.
01:45:30.820
We blew them out of the water by saying we don't care about any of that.
01:45:37.360
And we're not just dissolving it like just not hiring people of merit.
01:45:49.860
In fact, if they do, they'll learn that meritocracy is bad.
01:45:54.760
They're telling kids that getting to work on time is racist.
01:46:10.260
If you're a homeowner and you're struggling at the end of the month to make ends meet,
01:46:14.520
there's a lot of Americans right now that are in exactly the same condition.
01:46:20.480
You might consider taking out a consolidation loan.
01:46:28.660
But talking about it with somebody who can help you get rid of the terrible things like
01:46:34.040
high interest rate credit card debt, these are the kind of things that put you in a holding
01:46:38.600
pattern where you can barely touch the principal.
01:46:49.660
So you might want to set up a consolidation loan.
01:46:56.280
I can't remember what you were saying about that and who would be hired for radio.
01:47:16.000
If you're looking to lower your standards, how about Blaze TV?
01:47:36.540
So ABC News, Martha Raddatz was talking to very excited liberal voters about, you know,
01:47:48.780
I've got a Joe Biden supporter with me, and they're just excited about the whole thing.
01:47:57.020
Democrats are divided on whether or not President Biden should be running again.
01:48:11.900
While it's very early in the race, that disappointment and frustration
01:48:16.200
was expressed again and again by young voters we talked to.
01:48:20.800
I think I would go for Biden, but obviously I would prefer a fresher candidate.
01:48:29.680
I'm more interested in a progressive candidate.
01:48:31.620
Despite having voted for Biden last time, 21-year-old Elena Symes
01:48:36.420
couldn't point me to anything that would make her want to vote for him again, except...
01:48:59.000
If you're curious as to what Joe Biden is trying to do to become president again,
01:49:06.380
And for no point in the campaign will he be Donald Trump.
01:49:09.400
He might sound like Trump on things like Social Security, but that's a totally different issue
01:49:15.740
Uh, it is fascinating to watch this because they are not at all inspired by this guy.
01:49:25.780
I have to tell you, I think, I think RFK could make a run for it.
01:49:36.200
That's insanity for a guy who is just basically, you know, look, a long shot, like...
01:49:43.100
He's going to be perceived as a younger guy, a different generation.
01:50:10.480
Some people will just say no to whoever's at the top of the ticket, but I think that's
01:50:14.700
Could just be Kennedy name recognition at this point.
01:50:19.560
People have lost this over the past year or two, but Kennedy aligns very strongly with
01:50:24.960
the hardcore left wing of the Democratic Party.
01:50:28.360
This is a man who wants to put people who disagree with him on climate in prison.
01:50:33.160
This is a person who is outwardly argued for, by name, Glenn Beck and Rush Limbaugh to
01:50:47.780
I will say, that does make them fit directly into the left wing, the AOC wing of the Democratic
01:50:55.040
So there is going to be a bunch of people who like that sort of approach.
01:50:58.540
And of course, you know, but really all he's been talking about lately has been the vaccine
01:51:02.420
stuff, which has a base on the left as well as the right.
01:51:08.480
And I think it'll go back for a long time on that.
01:51:11.160
The thing I like about Joe Biden is he's not RFK Jr.
01:51:17.080
The thing I like about RFK Jr. is he's not Joe Biden.
01:51:22.820
And we're all just voting against what the other side is.
01:51:25.220
So Hunter Biden was in court yesterday and he is actually trying to cry.
01:51:36.400
He actually said, I've only ridden on Air Force One once, which I don't think is true.
01:51:53.320
Because I can't, I can't, you know, I'm not allowed to see who even bought anything.
01:51:58.340
Well, but you probably are allowed to see the check that you're getting from the gallery,
01:52:10.040
I had to sleep on a cot in my dad's room when he went to Ireland.
01:52:29.600
And he's blatantly lying here for some purpose.
01:52:43.200
They have the, his dad is the president of the United States.
01:52:51.480
I, again, you don't want to be punished with a baby.
01:52:54.680
But I mean, like, I'm saying like, take out the actual honorable thing to think about.
01:52:59.940
That's not going to be part of the Biden calculus on this.
01:53:15.460
All your, why, if you are a democratic operative, and again, if you are, you have no soul, so
01:53:31.060
The media doesn't seem to care if the president of the United States is abandoning his grandchild.
01:53:39.720
No one's asked him one single question about it.
01:53:45.740
But if you're a Democrat, why not just, who cares?
01:53:49.620
Just, you know, okay, George, get George Soros over here.
01:53:55.240
Find a way to get this paid off so we don't have to hear from her anymore and we can ignore
01:54:10.820
I don't know other than, uh, maybe, maybe it's your mistake.
01:54:20.940
That is going to let somebody sit with their mistakes.
01:54:27.560
They've been, hey, use my influence to get yourself out of situations.
01:54:30.980
Which again, it's not like they feel like if they felt like they were being extorted for
01:54:36.960
a false, uh, claim of, of fatherhood here for Hunter, you could understand it.
01:54:42.880
But this, that we've already passed that stage.
01:54:44.920
Like this is a woman who definitely had sex with your son while he was actually dating
01:55:03.360
And the fact that he will not acknowledge that.
01:55:06.760
And then separately, the democratic apparatus won't get them out of this trouble for a couple
01:55:12.280
Look at how much the left and Democrats hate Donald Trump.
01:55:29.160
We're putting our national security at stake because of his relationships with, uh, China.
01:55:36.440
We have our national security at stake because of what we did in Afghanistan and Ukraine.
01:55:48.700
And the only, the only solution is to hurt your job and your wages.
01:55:59.160
We know that the CIA chief now is wildly corrupt and lied to the American people about the Hunter
01:56:09.400
I mean, every criminal thing, everything that anybody who is decent at all looks at and goes,
01:56:25.760
They know this is just, these are despicable human beings.
01:56:35.280
They don't like the job he's doing, but they will vote for him again.
01:56:40.700
You know, I mean, we're answering our own question here.
01:56:43.360
You know, why, why don't they pay him, this woman off?
01:56:46.100
Because they know no one's going to ask and they know they won't be held accountable and
01:56:52.980
I mean, they've committed much worse crimes than this and no one said anything.
01:56:58.800
They're just so confident that they will never be asked a question about it and never will
01:57:02.460
have to deal with reality that they just, they just keep fighting it.
01:57:06.000
Why, why, why imagine, you imagine if we slipped through that same wormhole that we slipped
01:57:10.500
through to get to this earth and we went back to the earth we were on, you know, like in
01:57:15.800
2000, well, 1980, uh, and, and the, in the American people woke up and saw this president
01:57:30.060
I mean, when that, if that ever happens, it, it, it, it's going to be a shocking, think
01:57:40.740
about putting this country back on the right track.
01:57:44.060
I don't know if it can even be done, but think about what a Herculean task that's going to
01:57:52.800
be to clean all of the corruption up, to, to punish the bad guys, to even recognize the
01:58:12.320
What a, what a flip from reality this is going to be.
01:58:20.840
You know what, Glenn, it'll be really interesting to see how this plays out.
01:58:25.060
That, this is what I taught Stu earlier today in the podcast.
01:58:29.600
You know, you just look at everything and instead of going, we're doomed, we're dead.
01:58:35.440
It's going to be interesting to see how this works out.
01:58:38.300
I'm, I'm, I'm really anxious to see how this all plays out and, uh, and, and, uh, you
01:58:43.740
know, and how people, uh, learn, you know, the lesson.
01:58:46.240
It's sort of a catch-all for all problems and I am completely and fully in it now.
01:58:53.960
Let me tell you about our sponsor this half hour.
01:58:56.340
Uh, when you say that something is your specialty, what do you mean by that?
01:59:02.720
I've been doing this since Joe Biden needed a bedpan.
01:59:07.600
When I call radio, my specialty, it means, well, not that I'm good at it, but I do it
01:59:18.180
And I've conned a lot of people, including you into thinking this is worth listening to.
01:59:24.200
Now, those are not the people that we hire and look for at real estate agents.
01:59:32.720
And, uh, you know, if you want the job done, you have to have somebody who this is their
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If you're looking to buy or sell, whether it's across the street or across the country, the
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company that you need to call that will just recommend the right person to you.
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You just, you just let us know, go on the website, uh, realestateagentsitrust.com and we are going
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If we don't have somebody in your area, we're not going to just recommend somebody.
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So you want to find the right agent to help you buy or sell a house.
02:00:44.160
You know, Stu and I have been talking here often on the air today about, you know, it's
02:00:50.500
It's going to be interesting to see how everybody works out.
02:00:52.580
Uh, you know, all these things that are going on.
02:00:55.600
I'm, I'm anxious to see how that, uh, how that ends.
02:01:01.580
And, uh, and so I said to Stu just a minute ago, um, what would make it even more interesting?
02:01:08.660
And he said, I don't know if we want to make it more interesting.
02:01:10.860
And I said, no, I mean, in a fun way, um, you know, maybe, maybe we lay bets or something.
02:01:16.420
Maybe, maybe we, you know, like I offer a thousand dollars every month and I'm going
02:01:22.760
to give somebody who comes up with the most outrageous prediction of what could happen
02:01:29.320
And you get a thousand bucks if it comes through.
02:01:35.920
We'd be like, aha, this could be the opportunity when a rabbit shoots out of his butt and nobody
02:01:44.120
Like the classic examples of this would be like aliens, you know, are discovered.
02:01:48.540
And it's like, eh, would that even be that crazy?
02:01:53.600
I'm wondering, you know, because you know, that thing where they, uh, I can't remember
02:01:58.940
what it's called, but that, uh, that the reason why we don't find alien life anywhere is because
02:02:05.360
once you hit the radio wave, then the, you know, you're just a couple of years away from
02:02:11.800
discovering a nuke and then you blow yourself up.
02:02:14.120
Well, that clearly didn't happen in that amount of time.
02:02:17.160
Our radio waves are out there now when they come here, it will, you know, we might be annihilated.
02:02:21.740
However, however, maybe it's, it's not the nuke.
02:02:33.560
And so any planet that has an Elon Musk, they, their people are on another world.
02:02:49.560
But it also could be, this is why the aliens are coming now because they're like, they're
02:02:56.100
And they're either here to watch the firework show.
02:02:58.500
They'd be like, huh, it's going to be interesting to see how these people work this out.
02:03:02.500
And they'll be like, yes, but believe, uh, it's never worked out on any other planet.
02:03:07.860
And you'll like, yeah, but it might, maybe this time they'll do it.
02:03:14.880
So either, so either believe is right or the other guy is right.
02:03:29.920
Would you be, and I'm being this sincerely, would you be that surprised if aliens landed
02:03:36.480
in the next month or two and said, you guys are going to destroy yourself.
02:03:43.180
I feel like we'd be on the air saying like, guys, I feel like we would have years ago thought
02:03:49.420
this was a huge story that there's aliens now walking around and they, and they owned
02:03:57.460
I think like we would have talked about, that would have been like the biggest story in the
02:04:00.520
news a few years ago, but obviously now Trump just tweeted something.
02:04:03.480
Is there a possibility that Bleeb is already here and he's running for president and it
02:04:24.220
I don't know that I want to vote RFK Jr., but I would vote Bleeb.
02:04:31.640
I think he's the only, or the only thing that will, can get us there.
02:04:44.580
That's why I was, I think, her voice at Broadcom.