RADIOSeptember 14, 2023

Congress must STOP THE SPENDING before it's too late

JPMorgan Chase CEO Jamie Dimon warned at the Barclays Global Financial Services Conference that the U.S. is "spending money like drunken sailors around the world and that an economic "soft landing" is probably not coming. Glenn reviews the real state of the economy and insists that Congress must stop the spending before it's too late. He also argues that every presidential candidate needs to be asked what they would do to curb inflation. Is any candidate willing to dramatically downsize the government? Glenn and Stu discuss.

Transcript

Below is a rush transcript that may contain errors

GLENN: Jamie Dimon.

He has -- he has been warning about the risks to the economy.

He just was speaking at the Barclays global financial services contract. Conference in New York.

All of the best people are there. It's -- it's unbelievable. We went to New York. And there's these places called delis. And they have all kinds of sandwiches.that regular people eat. Oh, I felt like I was a regular person. Anyway, at the global financial services conference, Jamie Dimon said, you know, I've been saying that there's some headwinds coming. Kind of like a tornado is coming. Including, geopolitical tensions. Government spending. Monetary policy tightening by the central banks. And our government has been spending money like drunken sailors around the world. And that -- drunken sailors. You need to -- you know, I -- I -- I just want to say. This government, people claiming that they spend like I spend.

I don't spend like that. That's an insult.

To say the consumer is strong today means you will have a booming environment in the days ahead, a huge mistake.

He said, all this talk of a soft landing, is probably not coming.

You think?

And, you know, so there you have it, from an expert. In you let a boob tell you.

We're in a good part.

Okay. All right.

If we are -- speaking of Corn Pop. If we were popcorn, not the same as one bad dude, corn pop. Same letters. Just -- just -- okay?

If we were popcorn, the economy was popcorn.

It is still in the cupboard, waiting for you to go get it, and put it in the microwave.

That's how far along the line we are in this tough financial system we're in. Maybe it's been taken out. And you're like, I have to open up this plastic bag. It may be there.

STU: Yeah. And they're telling you, hey. Don't you want to eat some popcorn?

And you say yes. Because you like popcorn. Then they give you the colonels, and expect you to chew them.

You know, without them ever popping. This is a -- you're ruining your teeth with this particular.

GLENN: He said, everything that is being done right now, we will not see the full effects of for 12 to 18 months from now. So all of the spending that's going on, and, by the way, next hour. I am going to go into what we're doing in Ukraine. It is, to me, it is the clearest case of corruption. Of why the impeachment matters. What was that really all about? The lies of, we've got to fight Russia now. Otherwise, we will fight them later.

I'm reading this book on the -- on Kennedy.

And his problems with the generals, and all the neocons.

And one of the main generals, that was in charge of, I think it was a strategic air command. SAC.

You know, he's revered in the military. He actually wrote and said, in the 1960s, like 1961, it's inevitable, that we will have a nuclear war with Russia.

We should do it now.

And he actually -- they found out later, he was actually doing things, without the president's knowledge or anybody else, to provoke the Soviet Union, so they would start to gear up. And we would have the excuse of a first strike.

But his words were, it's inevitable, we will have to fight a war with them. We should fight it now, otherwise we'll be fighting a worse one later.

The same thing!

And as I'm reading that, I'm thinking, this is insanity. Whoops. We're doing the same thing right now.

STU: Similar thing happened in Spies Like Us, with Dan Aykroyd and Tim Chase. Almost the same. Same risk. And I think we need to take it seriously.

We've been warned for decades. And no one is taking this seriously.

GLENN: DeSantis said, yesterday.

If this is what -- he was asked on the CBS Evening News.

Which apparently is still on.

He said, he was asked, what would you do for inflation?

He said, I love this. Stop spending so much money!

Yeah. That's his first -- stop spending so much money.

And then open up domestic energy production. Those two things alone. But I honestly.

STU: Just those two.

GLENN: Not enough. But a lot.

Every candidate needs to be asked this. I have not heard Donald Trump give a real answer to the question of, tell me about inflation. What causes it?

And how would you stop it? What would you do it turn the economy around?

And, you know. We know.

Well, we will do what we did before. No, no, no. You can't now.

Because we have $8 trillion, is what you added to the debt.

We're there in spades now, just in -- you know, by the end of this one, it will probably be 10 trillion.

STU: He didn't discuss this with Megyn Kelly yesterday?

GLENN: I didn't see the Megyn Kelly interview either.

STU: I know Megyn does a great job with this stuff.

She's very good at doing this. I'm very interested to watch it. But I wonder if it was addressed at all there.

GLENN: I wonder. Because I want a real answer from him that. Want a I real answer.

The next president is coming in, if we don't -- you know, hopefully, we have least corn pop.

But the -- if there is a change, and there will be one way or another. Because he ain't making it longer.

What is the plan for inflation?

Because this is not good. And the only plan, that should be considered right now, is one, stop the spending.

Stop it. You -- you are being robbed.

They're now saying, their target is 3 percent inflation.

Why would we put up with that. The fed targeted 3 percent inflation.

I lived with that my whole life. Why? Why should there be inflation.

Why are you inflating the money 2 percent every year?

If you do three percent, in 10 years, I've lost almost 40 cents of every dollar. No. No.

Well, wages are -- are rising. At the same pace of inflation?

I don't think so. That's why everybody is short. And this is going -- you're going to learn about hyperinflation, the worst possible way. One of these days soon. Vivek -- Vivek said, I don't know why I say Vivek. Like cake. I know.

Vivek has said that he is going to cut 75 percent of the federal workforce. Fifty percent of those cuts will be made in his first year.

STU: I mean, he knows what to say.

GLENN: You had me at hello.

STU: Yeah. It's very Coolidge-esque.

GLENN: But Coolidge did it.

STU: I know. He cut 50 percent of the federal budget. What was it? One year?

GLENN: One year. Then the next year, he did another 50 percent. I mean, that's crazy.

STU: Again, very similar to what Vivek is talking about. Would he actually be able to do that?

GLENN: I don't know.

STU: That's the thing with Vivek's campaign. A lot of people are saying, he's promising too much. He's throwing this stuff out here. But he is being bold.

GLENN: This is what has to be done. We're at the time where we all knew this was coming. JFK talked about it.

FDR talked about it when he first passed Social Security, and said, these things must be paid for along the way. Otherwise, it will get out of control, and we'll never be able to pay it. It could be the ruin of our country. JFK said that. Ronald Reagan said it. We're there now. All of these entitlements, because we didn't actually have the money, we put it on to a debt sheet. And just our interest is going to kill us. It's going to kill us.

You've got to make massive cuts, right now.

And, by the way, you want to stop the Deep State? Cut 75 percent out.

Now, here's the one thing that I have said for a long time. And I will leave it at this. My free gift for Vivek and anybody who wants to use it. I really care about the real estate market. I really care. We will make some moves, that put the free market back in place.

And so your real estate. I -- I am going to make sure, that everything I can, to make sure it's a free market. So everybody can afford it.

Except in the Washington, DC, area. Your real estate is going to plummet, the day I'm elected. You might want to consider selling it now. Because there's going to be plenty of housing available, in the Washington, DC, area. Because I am going to fire 75 percent. Everybody else, don't worry about it. You live in the area. Around the Capitol, prepare for a -- a hemorrhaging on the price of your home.

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The SECRET every young man NEEDS to hear

The world has a plentiful, seemingly endless supply of angry boys. What it's lacking is real MEN. Glenn Beck shares the secret that our young men must learn if they truly want to protect and perfect our country.

Transcript

Below is a rush transcript that may contain errors

GLENN: There's a difference between a revival and an awakening. We are in a revival right now, but that doesn't necessarily lead to anything. Except, oh, I have to re-learn those principles. But that doesn't mean you apply them in your life. Okay?

That's an awakening. There's been two great awakenings in American history. One brought us the American Revolution. The second one brought us the Civil War and the freedom of slaves.

We have the possibility of going into a third great awakening. That's the only thing that will save us. If you don't know the difference between a revival and an awakening. Let me give you the negative print of a godly awakening. Our kids right now, they don't have any purpose. They don't have any meaning.

They look at everything, and it doesn't -- it's not real. None of it is real. It's money. It's fame.

It's -- you know, it's ever changing truths and definitions. And they have no purpose in their life. Okay?

So they're looking for that. Because man has to have purpose in his life. Man has to search for meaning.

So they're searching for meaning. And they found a group of people that actually mean something. And they're willing to die for it. And it's ISIS.

And so they're like, at least these people believe in something. They believe it. And they're willing to die for it. I'm going to stand with them. And they put that twisted understanding into action. That's the -- that is -- that's an awakening. It's just an awakening to the dark side. And that one is already happening. It has to happen on the good side. And let me speak directly to young men: Look, you are inheriting a very loud, angry, cynical and worst of all spiritually starving and malnourished society. And you are being sold a future of cheap pleasures and hollow heroes and screens with blue light that just rob you of your strength, one distracted second after another.

And in the middle of all that noise, may I just give you one piece of instruction. If there is anything virtuous, lovely, of good report or praise-worthy, seek those things.

Don't admire them. Don't nod at them. Seek them!

Hunt them. Chase them. Build your life around those things. A man who will do that. A boy. A young man who will do that, will become different. Noticeably different.

He will stop letting the culture feed him garbage. He stops applauding the trivial. He stops laughing at the obscene or cheering for the cruel.

He will become a curator of -- of real, lasting beauty in an age that has forgotten what beauty even looks like.

When other men are chasing down or holding up cynicism, this man holds up hope!

When everyone around him is chasing dopamine, he chooses discipline. When others will blame their circumstance, he'll take responsibility for his own action. When the world worships the shallow, he goes and searches for the deep!

You want to know what the secret of becoming strong is, or becoming trusted, or becoming the kind of man that your future wife, your future children, your future nation can depend on?

Here it is!

You become what you seek. If you seek trash, you become trash. If you seek virtue, you become a man of virtue. You seek excellence, and your life will begin to shine, not loudly, but steadily. Like the steel glow of a blade being forged.

That's who you'll be.

The world has a plentiful, seemingly never-ending supply of angry boys. We don't need any more addicted boys.

We don't need any more distracted boys. The world needs men. Whole men. Clear-eyed men.

Men whose souls are anchored to something higher than the algorithms, trying to own them!

Build a life worthy of admiration. Forget about the applause. Fill your mind with words that make you wiser. Fill your days with work, hard work, that makes you stronger. Fill your home with beauty that lifts every soul who walks into it.

Have your home a place where people walk in and go, man, I say so great here. I just love it here. I don't know what it is about your house. I just love it. It's the spirit that's there! Because you built it! You protect it.

Protect your integrity like a watchman on the wall. Don't lie. Don't cheat. Don't steal. And when you fail, and you will, stand back up again.

Because a man who seeks the virtuous, is not a man who never fails. He just -- he just becomes a man who refuses to stay on the ground.

If you seek things that are lovely and pure, trustworthy, praiseworthy, you'll become a kind of man this age almost never produces. A man whose very existence is a rebuke to the darkness.

That's your calling. That's why you were born.

Not to be lost. Not to play video games. Not to give up. Not to say, there's no hope. Not to end up in the trash bin of human history because you've -- you've taken so many drugs, you can't stand up straight anymore.

You're not destined to be alone.

You were destined for great things. You are destined to find an amazing woman!

Believe me. I didn't think I would ever find an amazing woman. Because I didn't think I was worth it. I didn't think I was worth it.

And until I started understanding how God works. That, yeah. I'm not worth any of the stuff that I have.

When you realize, it's all a gift. It's all a gift. And even if you work your brains out, you may not ever get all the things that you want. But you're going to have everything you need. Once you realize, carefully selecting friends makes a difference. My mother used to always say, show me your friends. I will show you your future.

It's true. Be careful who you select as friends. Watch your language. Watch what you're putting into your brain and what's coming out of your mouth. Because the brain is so amazing. It's being turned to mush. Did you know that there is a new study that just came out. I have to tell you about it next week, maybe.

New study going out. It is -- it's AI. And it has access to social media, and they have found that the AI -- the AI that is scrolling through social media all day, just to keep updated on everything that's going on in social media. It's getting brain mush. It's actually becoming dumber. It's become less effective!

It's a machine. What do you think this, flesh and blood, this thing is going to do?

We say life is meaningless. And life is the only thing that has any value. And yet, we spend all of our time, on things like social media. And that has absolutely no value.

But we think that's life.

I'm not that smart. I've just lived a long time. And I've made so many mistakes.

And I decided at one point, I'm going to stop saying, it's somebody else's fault. I'm going to start saying. Maybe -- what did I do to create that?

What did I do to attract that?

Why does this thing keep happening to me?

Why is it that I always find myself involved with these same kind of people?

Because, Glenn, dummy, it's you!

What you think, it's like -- it's like think of yourself as a -- as a beacon. It's just -- you're a beacon. Your GPS pin, that is constantly saying, here I am. Here I am. Here I am.

Except, it's transmitting more than just your location. It's -- it's transmitting what you're looking for, who you are. And it's attracting other dropped pins to you. It's saying, "I like this. I think this way. I believe these things. I am afraid of these things."

Whatever it is, you're thinking. It's constantly putting that out.

And saying, here I am. Is there anything else like that?

Anything else that can reinforce that? Anything else that can live like this?

Because that's me. Here I am. Here I am. Here I am.

That's why you keep finding yourself in exactly the same situations. Nothing will change, if nothing changes!

And the only thing that you can change, is you!

Seek the things, that have virtue.

Seek the things, that have beauty in music, in -- in art, in life, in architecture, in clothing! Whatever it is. Look for real, lasting beauty and value.

Find the things that are true! Truly true.

Universally true. Find the things that uplift. Seek those things!

And you will change your life and your world!