RADIOMay 07, 2024

Is the Economy About to Return to 1970s-Era Stagflation?

After April’s dismal jobs report released, some experts started wondering whether America has entered a period of stagflation. But what does that mean? And should we trust the data? Financial expert Carol Roth joins Glenn to break it all down. Plus, she reviews “one of the most painful” videos she has ever watched, featuring Biden economic adviser Jared Bernstein trying his hardest to explain why the Federal Reserve’s never-ending money printing is fine.

Transcript

Below is a rush transcript that may contain errors

GLENN: Carol Roth, the author of the book, you will own nothing. The former investment banker. Carol, yes -- or last Friday, I think it was. The jobs report came out. It was much lower than expected.

And I started seeing things like Bank of America saying, we're in stagflation now.

Are we? And if so, what is it?

And what does it mean?

CAROL: Well, let's talk about some of these data points, Glenn. And then we can go into stagflation. First, we've seen a couple of bad data points. And as we've talked about before. The data is garbage. So we're doing the best we can, what it is they're telling us, without any sense of the actual reality behind us.

We saw before the jobs report, that the first quarter GDP was down, about a percent lower than expectations. Down to 1.6 percent on an annualized basis.

Then we get the April jobs report. And that is also down. It's the slowest job gain. That we've seen in -- I think about six months.

Again, if you believe the data. And what that first is telling me, is that all of this money, that the government has spent to basically window dress the economy. To avoid the double-digit recession.

Remember, we did have a recession. Two quarters of negative growth back in '22. Then we popped out of it. Then we expected that it would employ it down. The government ran these massive deficits, about two times the historical average, on a debt to GDP basis.

That we would normally see. And they tried to prop up the economy. So it wouldn't show we were in a recession. At a very expensive cost, by the way. Normally, when you have an expanding economy, you would see a shrinking deficit. They have did you not opposite.

They ran a big deficit, to try to create this appearance. And with an interest rate. Financing that deficit. You know, at the largest point in 15 years.

GLENN: Right.

CAROL: So we know we are not getting a good return now, on this window dressing. And it is not creating these amazing outcomes for the economy.

You know, on the GDP front. On the jobs front.

Which again, could turn around. It's one set of at that time points. Would shift.

Stagflation is something that I talk to you about. I have been talking about for years. As a very possible outcome here.

And it's very much what it sounds like. It's when the economy stagnates. When you have a low growth number. But at the same time, you have inflation.

So you have sort of the worst of all worlds. You're not making gains of productivity.

You're not making, you know, gains in wages and things like that.

The economy is just hanging out. But you get this long-term sticking inflation.

Which again, we said was very likely, because the government continued to spend at these massive levels.

And they were working against what the fed was trying to do, to break down inflation.

So they are actually at this point, a likely cause of long-term inflation.

Because we have to continue to finance these massive deficits.

And so that's the reality of this sticky situation.

When you hear somebody, like JPMorgan's Jamie Dimon saying, I'm worried that the economy is going to look more like the 1970s, than anything else, this is something that they experience. Experience at that period of time. And he is seeing those parallels. Although, we're in a much worse fiscal situation from a fiscal foundation standpoint, than we were strangely enough in the 1970s.

GLENN: Because of our deficit and debt.

CAROL: Correct.

GLENN: Yes.

So this means that jobs, everything just is the same. It doesn't get better. It could get worse. But it doesn't generally get better for the individual. And prices continue to go up. Right?

That's what --

CAROL: Correct. You're not seeing your growth in wages. You're not seeing massive growth in companies.

The economy just sort of putters along.

You know, you're not seeing the massive layoffs. Or things you might see. With a recession.

Things are just kind of going along.

But not really growing at all.

You're not seeing the light at the end of the tunnel. But at the same time, we're encountering that bond, going sticking inflation, that we know destroys purchasing power and is really born, particularly by the middle and working class.

GLENN: All right.

So Carol, I don't want to spend a lot of time on this. Because I have a couple of other things.

But you said, at the beginning of your conversation. You said, if you believe the numbers.

I don't believe the numbers.

CAROL: Correct.

GLENN: But the only reason you change and fudge numbers is not to stop them from looking so good. But stop them from looking so bad.

And the reason why I don't believe them. Is it's just too many times, where they've been adjusted. And there's always adjustments, but not like it's been in the last year or so.

And there's just contradictory information. If you're somebody who is listening now, and, you know, you don't -- you don't necessarily have that. You don't think that, you know, the administration would go that far, and fake numbers.

What leads you to say, if you believe these numbers?

CAROL: Well, like you said, there have been a lot of anomalies in the numbers. And, you know, if you -- you can kind of go back even further. You know, we've changed the method of calculation, of these numbers. At the governmental level, many times since the 1980s. One of the things you have to remember, for something like let's say inflation.

Inflation feeds into things like cost of living adjustments. The amount they have to increase Social Security payments by. So there is an actual reason why it is, that they would want to suppress those numbers.

Another piece of data which I think is very important. Is that entities and individuals no longer want to participate in government surveys.

So we have seen an absolute massive decline in the participation of the data that is being collected by the government.

Which means, when they don't have people in businesses, responding, there are more biases in the data, because it's a smaller subset of people who want to do it.

And it means they have to want to run it through their own adjustments. And seasonal adjustments. In the model.

And it's garbage in. Garbage out. You put bad data in, you'll get bad data out.

There are a lot of things. This isn't just the, hey. The numbers are adjusted massively. And we're seeing the numbers over and over again. Speaking to the bad data. There are some real structural issues as to why many of us think the data sort of isn't worth anything.

GLENN: By the way, we're talking to J.D. Vance in 15 minutes. Right now, we're with Carol Rother. I want to bring up something that is one of the most terrifying things I've ever seen. It's an interview where they're trying to make the case for modern monetary theory. Which is not modern. It's a very old theory. You can just print money, and no big deal. Nothing bad will happen.

And they talked to Joe Biden's economic adviser.

Now, I -- if you would, explain who Jared Bernstein is.

He is -- he is the chair of the council of economic advisers for Joe Biden.

But he's not just some schlub, right?

CAROL: Well, I mean, I will not opine on that. But what I will tell you, is that he's very powerful economically. This is Joe Biden's right-hand adviser who has been, by the way, since the Obama administration, he was Biden's adviser.

And this is the guy who analyzes and interprets economic developments.

He comes up with economic policies. He puts that forth to the president. He's been entrenched in think tanks. He's been a contributor to CBS. He writes op-eds. He was a chief economist, in economic adviser. You know, previously.

This guy is like from the left and far left standpoint. One of the people, who they hang their hat on, to be the economic adviser. And I don't know.

Are you going to play the clip.

It's one of the most painful things I've watched in my life.

GLENN: I want to get your comment on it. And I want to set up. This is a real player in the economy.

This is someone our government depends on.

Listen to him try to explain our deficit, and what's happening with our money. Listen.

VOICE: The US government can't go bankrupt, because we can print our own money.

VOICE: It obviously begs the question: Why exactly are we borrowing a currency that we print ourselves? I'm waiting for someone to stand up, and say, why do we borrow our own currency in the first place?

VOICE: Like you said, they print the dollar. So why does the government even borrow?

VOICE: Well, the -- so the -- I mean, again, some of this stuff gets -- some of the language that the -- some of the language and concepts are just confusing. I mean, the government definitely prints money.

And it definitely lends that money, which is why the government definitely prints money. And then it lends that money, by -- by selling bonds. Is that what they do?

GLENN: No. No.

VOICE: They -- they -- yeah. They -- they sell bonds. Yeah. They sell bonds. Right. Since they sell bonds.

People buy the bonds. And lend them the money.

GLENN: No.

VOICE: So a lot of times. A lot of times. The language and the concepts can be kind of unnecessarily confusing. But there is no question, that the government prints money. And then it uses that money to -- so, yeah.

I guess I'm just -- I can't really talk.

I don't get it. I don't know what they're talking about.

Because it's like, the government clearly prints money. It does it all the time.

And it clearly borrows. Otherwise, you wouldn't be having this conversation.

So I don't think there's anything confusing there.

GLENN: Oh, my God. This is -- would you feel --

STU: Wow.

GLENN: If that was your captain, and you got on to a plane, and he said, hey. We're going to be traveling at 40,000 -- 4,000 -- I can't -- how does this work again? Would you get on that plane?

CAROL: Okay. So I'm going to be generous here first, Glenn.

And then I'm going to be not so generous. The first generous thing I will say is that we've all been in the media for a very long time, you longer than me. And we've all had days, that are somewhat like this. Where we know something really well. And we just can't get it.

So I will -- it could be today for me.

There have been a few times. When I made absolutely no sense, on something I know very well.

So it does happen. That can said. Now that I've been generous.

This is sort of the chief architect of the US economy at this point. Going through a discussion about MMT. I call it magic money tree. I've heard that somewhere along the line. I thought that was great.

And their main thesis. Oh, you got the checkbook. You can just write checks. The question he asked. Which anyone who lives in Zimbabwe would probably know the answer to. Why can't the government just print as much money as it wants.

We all know it's highly inflationary. And we've been living through that for the past few years. That's the very short answer. Of course, there's nuance to this. Of course, there's wonkiness that we can go in and explain the Treasury and the Fed. Just very simple.

So it begs the question to me. Does he not know the answer? Or does he very much know the answer, but he doesn't feel like he could admit it.

And hasn't done the prep. Which, again, these are politicians. Politician mouthpieces. They could just talk around us. Which they do all the time.

I think the answer is that they are just entirely decoupled from reality. So they don't care.

They don't care what it is, Glenn. Money is something very discreet. Money has three definitions. It's a unit of account. It's a median of exchange. It's the value.

At the end of the day, putting it together, what is it? It's a proxy for productivity.

It's an estimation of the labor that you have. Because it used to be. If you were a farmer. You had apples. Somebody who was a doctor at doctor services. You would have to figure out that exchange. Now this creates something that is seamless. So it stands for something.

GLENN: Stands -- time is money.

CAROL: It is. It is your output. So if you don't have an increase in economic activity. An increase in productivity. And you put more dollars in the system. What are you doing?

You're putting in more sort of proxies for productivity. They're chasing the same amount of goods and services. It means that those goods and services have been inflated and valued. Because each one of those proxies are worthless. If you go to Congress. And you ask them, to give you that definition of money. That I just gave you.

Anyone who knows anything about economics. I guarantee you 99 percent of the people couldn't tell you that. And the people on the left do not care. Because it doesn't serve their purpose.

They don't care that this is a proxy of what you have worked hard for.

They want to inflate that away for their own power purpose.

So it is very inconvenient for them to understand reality.

And that's why he can't explain this.

GLENN: I think he knows what it is. But can't explain.

Because he doesn't. He doesn't want to take a position on it.

Because I think they're all in bed with MMT. So he can't -- he doesn't want to say, I am in bed with MMT. Because it's insanity. But I think he also extent can know how to bridge that gap. There's a huge gap between reality and insanity.

CAROL: There is.

GLENN: And I think that's what it is. He just doesn't want to be seen crossing that bridge. Because there's no sane reason to do it.

CAROL: No. And the fact of the matter is, you had all these MMT people, selling this fantasy. And up until a few years ago, there were a lot of people who bought into the fantasy. Although, many of us said no. This is something that stands for reality.

You can't just make it up. Just because you have a checkbook. You can't write unlimited amounts of checks. It doesn't work that way. We have now lived through the worst inflationary period in 40-plus years. And these MMT people have not gotten enough shame. They should be walked through the street and we should go, shame, shame, shame.

Because it's their BS they've been selling into the government, into schools, that has allowed this to occur. And has allowed this decoupling from reality. Because they want to believe in unicorns that, you know, fart rainbows.

Glenn Beck’s LIVE Reaction to Donald Trump’s Second Inaugural Address

President Donald Trump’s second inaugural address let the world know that America is back. Glenn Beck, Stu Burguiere, and fellow BlazeTV host Allie Beth Stuckey give their live reactions to the speech. Trump acknowledged God, proclaimed the day as “Liberation Day” for many Americans, and used “revolution language,” or as Trump put it, “a revolution of common sense.” Trump announced that the US Government will only recognize 2 genders and that he will open America up for drilling, rename the Gulf of Mexico to the Gulf of America, restore the name of Mt. McKinley, stop China from controlling the Panama Canal, and end wars. But Glenn also reveals the one thing Trump said that “disturbed” him because he’s never heard a president say it in his lifetime.

Will Donald Trump Usher In a New Golden Era of America?

On his final full broadcast of the Biden era, Glenn takes a look at what’s coming to an end when Trump takes office on Monday, January 20th, and what’s hopefully coming next. This is the end of an era of lies and destruction, of pure madness and unquestioning obedience to the so-called “experts.” It’s the beginning of the end of diversity being twisted into a weapon. Trump has a long road ahead of him, but he has the opportunity to renew America and start a new Golden Era.

Transcript

Below is a rush transcript that may contain errors

STU: Three days, Glenn! Three days!

GLENN: Until the fundamental transformation of America.

STU: Yeah. No more of this guy. No more of her. No more of them.

GLENN: You know, but I think it's a lot bigger than that.

I was thinking about this today when I was driving in. That this administration exiting. Is not just another exit of a president. It's not the same. And it -- it wasn't like this in 16.

Although, we hoped it would be.

But it is this time.

Because the people and the feeling in the country, even among Democrats, is different now. We're about to turn the page. And enter a new era, or a new chapter.

We're really standing on the edge.

Monday is a moment far larger than politics. But it's only the beginning. It's not just the end of a presidency. Not the changing of the guard. It is truly the end of an era. An era marked by madness, by confusion. By division. Distortion. Deafening cacophony of chaos.

All of that has drowned out reason and common sense. And it -- you know, it didn't -- it didn't start yesterday.

As much as the left tried to make this all about words.

By twisting meaning. Redefining words.

Or using words, quite honestly, to use their words. In mis, dis, or malinformation.

This era is not going to be remembered by the words, but by the actions of those who spoke, the millions of those meaningless words. We can see right now the destruction of our economy. Our security.

The -- and really, really clear terms, in the homes and the hearts of California. That it is the action of people that matter more than simple words.

By their -- by their fruits, ye shall know them. The fruit of this tree is rotted, and people now are beginning to see that.

Now, like I said, this didn't begin four years ago. It turned it up to volume number ten, but this has been brewing for decades. It has been in our institutions, far longer than any of us realized.

Metastasizing in our culture, our institutions, and our hearts. And hardening our hearts.

It is an era that we leave on Monday, that put truth itself on trial. Can you even define what truth is, anymore?

We -- we went into this place, that was so absurd, we couldn't define something as fundamental and self-evident as, can you tell me what a woman is?

Historians are going to look back on this last era that we're now leaving, as pure madness.

But it's also a time, when it took everything in people, to question the powerful mob.

To speak the truth, that you believe. It was a -- it was a risk that at first, far too many people wouldn't do. Because they were afraid of being shouted down.

Cancelled.

Or much, much worse.

Common decency. The once unspoken bond that united us, was thrown out the window.

It became not only unfashionable. But absolutely unrecognizable.

And everybody was at each other's throats. Common sense. Our old friend, just dismissed. Exiled seemingly to the fringes of our society.

As if it were dangerous now. Or just wildly outdated. And we know that happen. We didn't know that yesterday. But we know that today.

And I mean, literally yesterday. How many words changed. How many things. Concepts. Huge truths that we knew.

We wake up one day, and it was completely being dismissed.

And we would be like, where did this come from?

We're leaving a time of breathtaking hypocrisy. Where those who deny corruption themselves take bribes from hostile nations, where the righteous call for unity, while sowing division.

This era, racism has been repackaged and sown back to us under the guise of antiracism.

Hatred, we're told me, is perfectly fine, as long as it's aimed at the right people.

And those right people, may be the wrong people, tomorrow!

Faith in God, has been replaced by faith in climate models. Sexuality. Identity.

In this last era they can't be we're now getting ready to leave. All of those religions had their own dog has. Their high priests. Their rituals. And above all, their lack of forgiveness.

Meaning, that they were anti-Christ. Teachings.

But somehow or another. Many of our churches embraced them, as the message of Christ.

There cannot be Christ in any message, that doesn't include forgiveness.

But this isn't where the story ends. We thought before this election, this might be where our story ends.

But here is the really unbelievable news.

God stepped in.

And if you don't recognize that, there is no hope for us.

God stepped in and did something none of us could do.

First of all, he saved the president's life twice. And if you think that was a Secret Service. You're nuts!

God saved him, twice!

God changed him.

And suddenly our society is waking up. This guy, who is not our savior, won!

And people started flocking to him, and willing to take bold stands and say, you know what, all this crap. It's wrong!

So this is not the end of an era, alone. It's the beginning of the end of that era. The end of unreasonable hatred of others. Not because they look different.

Simply because they voted differently.

They didn't think differently.

You know, there was nothing about actual diversity.

It was all about voting!

It's the end of unquestioning obedience to the so-called media. And experts, who demand that we followed them, without question, into the slaughterhouse. Hoping, I guess.

Hoping against hope, many of us, that if we would just comply, our turn on the chopping block would never come.

It's the end of the era of, my body, my choice.

In everything -- in everything else, other than killing your baby. You can kill your baby, my body my choice.

Well, it's not your body that's being killed. It's the baby's body.

Makes no sense. But, boy, oh, boy.

Not with masks. Not with vaccines.

Not with the basic right to just use your legs and leave your home!

It's the end of an era where we have to ask ourself, whose side is this government on?

Who is actually running this thing?

What is the actual plan that our leaders have? How -- how is this helping the average American?

Who is actually the president?

That ends on Monday. It's the beginning of the end. There's a lot of work to do.

But it's the beginning of the end of diversity, twisted into a weapon. Where diversity of thought, values, and spirit, were just disregarded. Replaced by a narrow, suffocating dogma, that demanded conformity in all ways. Even if you were conforming yesterday, and then somehow or another, through the ether, the mob decided what was true yesterday. Is no longer true today.

The mob would get you!

On anything you disagreed with. It's the end of the era where dissent was met not with debate. But with just now, meaningless labels. Racist.

Fascist. Bigot.

I think it's really important, that all of us recognize, this is not about Democrats. There are a lot of Democrats that actually woke up. It's not about Democrats.

It's not about Republicans. I think both of them stink, quite honestly.

I do, and that's the message of this new administration. And you see it with diversity of people, that are actually in this administration. We don't agree in lockstep on everything.

Far from it! The establishment in the Democrats and the Republicans do. But this isn't about Democrat, Republicans, liberals, conservative, independent.

This is truly about something much, much deeper that begins Monday.

It's older and far more grander than a political party. It is truly about the rebirth or the rediscovering of what it truly means to be free!

Monday marks the rebirth of something absolutely extraordinary!

Things we used to find self-evident. The freedoms guaranteed just in our First Amendment. The freedom to question our government.

They work for us!

We don't work for them!

The freedom to speak our mind! Even the most unpleasant and disruptive things. You are allowed to say! The freedom to worship. To live out your beliefs. To be who you are, without demanding that others speak, affirm, or even accept your truth.

You know, the one thing that we have forgotten in this last era, that I hope we are remembering. Is that this nation weren't built by people who all walked in lockstep.

They didn't agree on everything.

In fact, far from it. It was built by people who often vehemently disagreed on the path forward.

But they shared the common commitment to respecting each other's rights, and fulfilling their own responsibilities.

It was built on the idea, that disagreement, when handled with humility and respect, makes us stronger, not weaker!

Diversity of thought is important.

Diversity of skin color doesn't matter.

And so as we say farewell to an era of absolute chaos, it's really important that we don't say goodbye in anger or bitterness. And that is hard!

We can't alienate our neighbors, our assume the worst of those who see the world differently, if we agree on the rebirth of the Bill of Rights, and each responsibility that is tied to those rights.

Monday, I hope we recognize, that this is an end of an era this weekend. And Monday is an invitation to rebuild. To restore. To renew.

An era, a golden era. An era that is dawning. Just in front of all of us.

And it belongs to all of us. Not just those who won an election. Or share my view.

Or your view.

It's an era that can only succeed if we remember the lessons of the past. And commit to something better.

To restore hope. Not just in our institutions. But in each other.

Renew our faith. Not just in God.

Though, that's vital. But also in the idea that people, flawed, though they are, can be capable of incredible good. Seek restoration, not just of our economy and our government, but of our hearts, of our communities, of our families. Our shared understanding of what it means to be human.

And to be free! This weekend, I want you to bid farewell to all of the chaos. It's the beginning of the end.

There will be more chaos as we go. But as we lay it down, leave it behind.

Walk forward.

Leave your fear behind.

Walk in encourage. Not in hatred. But in love.

Because the truth is, this country has faced darker days than these.

I didn't think we would make it here, gang!

But every time this country seems to find the light just at the end. And we found it. But it's just flickering, still so fragile in mighty gusts of wind. But what will happen is not because of a president or Congress or a court. It will all happen because of you! So don't wait for anybody else. Lead the way.

Be the one who chooses faith over fear. Courage over conformity. Love over hatred.

Let's be the ones who our words are meaningless. But our actions speaks volumes. The that one shows the world, that freedom actually works. Not because it's easy. But because it is right!

Biden's Farewell Address, Rewritten by Glenn Beck

President Biden’s farewell address was filled with all sorts of irony. Perhaps most shocking was his warning that an “oligarchy” of power-hungry elites “literally threatens our entire democracy.” Surely, he isn’t talking about the progressive elites, right?! Glenn decided to rewrite Biden’s farewell address to better reflect the reality of his administration’s legacy. No joke!

Transcript

Below is a rush transcript that may contain errors

GLENN: All right. So Joe Biden. And I know this is all going to come as new news for you, Stu.

Because I'm not going to lie. It came to me as new news this morning.

When I read it in the show prep.

This is not something, I would even care about. From this president.

But I think it's important just to notice how he's leaving office.

And there's a couple of things. One, have you ever seen a president who nobody gives a flying crap about more than this one?

STU: I don't think so. I mean, have I?

No. Has it ever occurred in American history is more the question.

GLENN: Right. It could be like John Tyler, or Taylor.

I don't even know.

STU: Tyler. That was the one I didn't even know existed. John Taylor, I think was the basis for Duran Duran. John Tyler, former president.

GLENN: Okay. Right. So former -- so I care about what's happening in this administration, just a little bit more than John Tyler!

STU: Or John Taylor. Right.

GLENN: Or John Taylor. Either.

I mean, I care a little bit more about John Taylor. He had some great songs.

STU: He had some great songs.

GLENN: So, I mean, I just don't care.

The only reason I do care. Is because what is he doing today, to destroy our country?

STU: Yeah. We've been doing this series of Biden's parting shots on our show.

Stu Does America, by the way. Blaze TV.

And there's a lot.

You could say, he's not doing anything. Because you think he's incoherent. And falling asleep on the job.

GLENN: No. He's not doing anything.

STU: It very well may be true. It also doesn't matter. He's doing a lot to the country here, as he walks out the door.

It does not seem that anyone seems to care.

GLENN: There was another 500 billion-dollar forgiveness of loans, yesterday.

STU: Not that much.

GLENN: How much was it?

STU: He did 150,000 people. And then another 200,000 people. I believe over the past few days.

GLENN: A lot of money and a lot of people.

STU: Yes.

GLENN: And this one he's saying, because the university scammed them.

Oh, Lord.

Okay and -- yes?

STU: I think that's just -- amazing. You go through a legal proceeding. That's how they get their money back.

They don't get the money back. We don't have to take that on as a country. And again, none of this is legal. None of this is constitutional.

Most of this will be overturned after he's out of office. Most of these poor people who believe they no longer have these loans, will wind up having these loans.

GLENN: Right, but they're still going. They're still going. They're filing all kinds of suits in court, and you're like, that's not going to stand in court. They're not going to pursue that.

It's just -- okay. Well, then stop it. Spend the time to stop it. That's what he's doing. He's just lighting little brushfires everywhere.

Thank goodness, Donald Trump is not California.

He'll put them out quickly, I think.

Now, the -- Biden gave a speech, and I -- I just rewrote it.

I'm sorry. I rewrote the speech.

STU: Okay.

GLENN: Because I said everything that he said, but I added a little bit of the truth.

Okay?

So let me give you what he said, last night.

First, do we have the -- the Hail to the Chief?

Or something that makes it sound official? Because it was very official.

It was in the White House. I'm not kidding.

He was sitting on a pillow last night.

Yeah. No. Real one. And just go ahead. So he's -- and now a message from the president of the United States.

My fellow Americans, folks, I'm serious. This is it.

This is my last address as your president.

No joke!

I've been in public service. For 50 years, now.

Maybe more.

I've seen a lot in my time.

But I've got to tell you, still believe in America.

Well, there's some things that we need to talk about. Things that really worry me.

I'm not kidding.

This is serious stuff.

First of all, the oligarchy thing.

Yeah. It's bad!

Folks, we've got billionaires and corporations running the shows right now, and it's dangerous. Come on. We can't have people, billionaires, who think they can run everything. Like George Soros.

Well, no.

Probably, he deserves a medal, but other people like that, that vote differently than the way we want them to vote.

That's just got to stop. Got to stop. Okay?

He's a good guy mostly. And big tech. Don't even get me started, folks.

Don't. Don't.

It's like my dad used to say. When I was growing up in Scranton, you know, just an average scrappy kid, hanging out with black people and minorities mainly.

You know, my dad used to say to me, don't trust big tech. He was way ahead of the game. Way ahead.

I loved my dad. I will cry. By the way, California, I can relate. Because I had a kitchen fire once.

Anyway, back to big tech. Don't even get me started. We had to work with them. You know. You know, to protect democracy. That's why we had an open line to Facebook and Twitter. Some people called it censorship. That's malarkey. Okay?

It was just, what's the word? Guardrails. Yeah, guard rails for democracy.

That's what that was. And misinformation.

Folks!

I'm serious.

It's everywhere. No joke!

Americans are buried in misinformation.

But let me be clear. We weren't part of that. Okay. Maybe a little bit. But not very much.

I mean, not that you know of.

It's coming out?

Okay. Well, all right.

Maybe a little. We did say Hunter's laptop was fake. Turns out, wasn't. That was a surprise.

No joke, people. I had no idea.

Maybe we had a few things wrong about COVID. You know, like the origins, the lockdowns, the vaccines. But come on! Folks, I'm serious.

It was confusing. You keeping it straight.

Come on.

Look, I know some of you are mad about my family making a few bucks overseas. But, folks, let me tell you, that's how business gets done sometimes.

You know, what are you going to do?

My son, Hunter, good kid. Smart as a whip. Oh, my gosh. What a talented painter he is. Did you hear? Five hundred million dollars of his paintings have been lost in the fire!

Damn it! But a good thing we had insurance on all of that art.

You know, he got some deals. China, Ukraine. Whatever. But it was all aboveboard.

I mean, I'm serious, folks. It's fine. Totally legit. And here's the thing about AI. It's scary.

Artificial intelligence. That's what they call it. I don't trust it. One day, you're talking to your phone.

The next thing you know, it's running your life.

That's why I wanted Congress to ban stock trading for government employees. No joke.

No joke. You can't have senators buying stocks when they know stuff about stocks!

It's just wrong, folks.

Never. I mean, not recently.

I have not recently benefited from stock trading. No joke.

My family made it the old-fashioned way. Through bribery.

That's what we did. All right.

That's America. And let me tell you about America and unity. Folks, we need unity now more than ever.

But you know what is stopping us?

And I mean it!

People who don't listen. They spread lies. They stir up television.

Some of them need to vote for the other guy, and I'm not kidding.

These people are dangerous. Folks, I'm not kidding. Makes me so mad. I could -- I don't know.

You know the rest. Now, I know I've made mistakes. Nobody is perfect. I mean, I'm pretty Tam close. But come on, folks. Give me a break. I'm just doing what's right.

You have to trust me on this. In closing, I want to remind you of the statute of liberty.

That lady has been swaying in the wind for years. But she never falls. Just like America.

She might lead a little to the right or left. But she stays upright. No joke.

It's a miracle. They wouldn't let me change that torch to an ice cream cone. Which I think that would have been great. You know, on her feet, we should have given her some socks or something. Because her feet has to be cold. They're made out of metal, seriously. Seriously, folks.

I'm not joking. What's her hair smell like?

So now it's your turn to stand guard.

Keep the faith. Protect democracy.

And remember, I love the little children.

Hey, God loves the little children.

He keeps them in the palm of his hand.

I've got my palm of my hand on little children.

It's good. Folks, come on!

I'm being serious.

It's real. I love it. I'm serious.

God bless you.

And God bless something else, I don't remember what it was.

So that is a summary of his speech last night.

And --

STU: He's good.

GLENN: Then he walked off into the sunshine.

With the -- and they're pretty close.

He had the seniors come this. You know, from his senior center.

And it was regulated. Ow! That one hurt there. But, hey, he was trying. No, folks, seriously, they're trying their best.

They're seniors. And look at them go. Look at them go.

STU: The Joe Biden players. Ladies and gentlemen.

GLENN: And we're going to miss it. We're going to miss them.

We really are. We really are.

You know, I was thinking, I really don't care except for the instruction.

And I think Democrats have it in the exact right place.

Because they don't care about the destruction, I don't think. At least the ones in Washington.

And they're not paying attention to him at all. They don't care what he's doing. They don't care, okay?

Isn't this exactly the way we should all feel about our president, all the time?

Without the fear of, good God, what is he doing behind the scenes?

Without that fear. He should not have that big of an impact. Nor should all of those clowns in Washington.

You know what I would like to do?

I would like to go back to doing comedy, like, remember, Stu. In the old days, 25 years ago, before 9/11. We were doing comedy.

Wouldn't that be nice? That would be nice.

Would love to do that. But we suddenly had to care. Because these people are out of their mind and out of control.

The way the Democrats care about Joe Biden right now is the way we should care about every president.

Okay?

They should have such little power. No. I'm not joking folks.

I'm not. I'm being serious.

Such little power. We don't care. Yeah.

Yeah. Now, let's go have some ice cream.

STU: I mean, that's -- what the Founders kind of wanted, right?

They wanted a country in which, where you didn't have to think about the cane all the time --

GLENN: Yeah, and you would say, shut up. Shut up.

That's what I think our Founders.

STU: Italian Founders. Yeah. Shut up.

Because, again, it's easy to think about now, as someone you probably like is coming into office.

So you might like the focus on them.

GLENN: Well, I like the focus on them. Because I will fix it. You know what I mean? And then we need to care enough to get those things out of an executive order. And passed as laws. Otherwise, four years from now. We can have somebody -- Karl Marx, they might bring back from the dead. And they will be like, Karl Marx, you know, his first time around didn't go well. But I'm serious, folks. He's great now. And look at that beard. I mean, that's a great beard. Especially for being dead for so long.

And they -- we can -- he will be like, I will do a few executive orders. What? What's the problem?

You know, no! We need to pay attention, so they actually pass these things, as bills.

STU: Interesting. A development on that front. The Republicans are trying to talk Trump out of doing some of these executive orders.

When he first starts. Because of a -- basically a technicality, that comes from this law that we want to pass, this reconciliation bill.

This is their one big bill. To do that. They can pass this bill with only 50 senators.

If it's cutting the deficit, essentially.

And so the -- what -- some of these executive orders that Trump wants to do, will help that. Right?

GLENN: But they need to have them in the pill.

STU: They need to have them in the bill to make sure the scoring is right, so they can pass it.

GLENN: You know, I have to tell you. I think there's more to cut than everyone thinks. Oh, gee, we've got to reduce the deficit.

And you will cut a lot of places. I think you could find more.

STU: I think you can. I think you can.

Again, if you're going to do it anyway. I would prefer, if it's a good measure. And it's going to improve the budget situation. I would rather have it in the reconciliation bill, than as an executive order, for the same reasons you're talking about.

GLENN: Yeah. Yeah. But I would like to not give away, the stuff that we could get through executive order.

STU: Yeah.

GLENN: You know.

STU: If you can get it through the law.

GLENN: Get it through the law.

STU: Get it through the bill. Get it that way. If it's not available there. Then you go --

GLENN: Take it elsewhere.

Because there's a lot that can be cut. Gee. I don't know. We're a few hundred billion dollars away from being able to save the deficit. And pass this bill.

I don't know. Department of Education. Where are the keys?

STU: You can't do that by executive order.

GLENN: No. I'm saying Congress. I'm saying Congress.

We can't do it in the bill.

We can't just pass it with 50, because it's not enough.

Where are the keys to the Department of Education?

I would just like to see them, right now.

Let's put them in the pile. All right.

California Fires and New Jersey Drones: Government Secrets EXPOSED | Glenn TV | Ep 405

The secrets, lies, and utter absence of transparency from all levels of government are tearing our country apart. In just a few days, the Trump administration has the opportunity to change all of that and start a new era of accountability. Over the past decade, we’ve been lied to about Epstein, Ukraine, the Biden crime family … the list goes on! In this episode of Glenn TV, Glenn peels back the layers on two of the biggest stories right now that Americans are DEMANDING answers on: the fires in Los Angeles and the mysterious drone sightings that started in New Jersey but have since occurred all over the world. Then, journalist Michael Shellenberger joins to discuss how California failed to prepare for the Los Angeles wildfires, why there never should have been a dry reservoir, and where he believes the drones are coming from: Are they Chinese, UFOs, or the property of the U.S. government?