RADIOJuly 12, 2022

How CHAOS in Sri Lanka may FORESHADOW our economic future

Today, Sri Lanka exhibits a lesson all countries around the world should learn before it’s too late. Glenn details how Sri Lanka — an Asian island with a population of about 22 million people — descended into chaos, starvation, and ferocity in the streets. It began when fuel and food prices began to skyrocket, all thanks to new rules forced by the World Economic Forum, Glenn explains. Now residents cannot afford food, medicine, or other basic necessities needed to live. But global, elite organizations like the WEF and IMF take no blame. In fact, they watch the ashes from afar, double down, and enforce the same brutality onto other nations in their path. In this clip, Glenn explains HOW it happened and WHY the U.S. must learn our lesson before Sri Lanka’s current reality becomes OUR economic future…

Transcript

Below is a rush transcript that may contain errors

GLENN: Let me give you a couple of stories here. Germany is now moving to reactivity the coal plants, because they're afraid Russia is going to cut off the gas. The Swiss -- the Swiss are now preparing for gas shortages, and are looking at rationing their fuel. The world is learning a lesson.

Now, let me take you to Sri Lanka. Because this is the lesson, that we should all learn, today.

You might not be familiar, with the island nation of Sri Lanka, other than its name. But it is the foreshadowing. The dark foreshadowing of the things to come, in this Great Reset-bound world. Twenty-two million people inhabit Sri Lanka. Twenty-two million people are now struggling to survive.

They're now facing the worst economic crisis they have ever encountered, since declaring independence in 1948. The government is now all, but bankrupt. They're in default, on foreign debt. They can't afford critical imports to sustain their people. Medicine has now become too expensive or scarce to get a hold of. Fuel prices on this little island are out of control.

It began to spiral out of control, as long lines formed at gas stations.

Then violent brawls would sometimes break out between people, and the military and the police holding them back. Food prices skyrocketed. Food prices became unsustainable when gas went through the roof.

Now, Sri Lanka is on the brink of chaos. Videos have emerged of starving and desperate people attacking others out in the street. Everything culminated this weekend, as thousands of angry rioters stormed the presidential palace, and forced the resignation of their leader.

Sri Lanka. I mean, I don't know anything about Sri Lanka. Why would I care about Sri Lanka?

Here's what happened to Sri Lanka: There was an IMF bailout package, and it was really Sri Lanka's final option for recovery. But a few days ago, the IMF walked away from the deal.

Now, if you know about Sri Lanka or you happen to, you know, have relatives in Sri Lanka, you're wondering, what I'm wondering. Why?

They did everything they were supposed to do.

They played by the rules as ordered. So why is the global financial system, now abandoning Sri Lanka?

A few short years ago, to the global economic elite, Sri Lanka was the jewel of Asia.

The World Economic Forum showered them with praise. And one of their puff pieces, highlighting Sri Lanka's leadership in the rest of the world. The article was titled, this is how we'll make Sri Lanka rich by 2025. That was four years ago, and now they're bankrupt. So what happened?

Well, the usual crap that we hear from the overlords in Davos. And it was all described in that WEF article. Sri Lanka was to concentrate on a social economy. Spending millions in the transformation to a new kind of capitalism. They would double down on green energy. Any of this sound familiar?

Sri Lanka cut taxes, but also didn't cut spending. In fact, in order to fuel The Great Reset of their economy, they began to print cash in unprecedented levels. Because they had a green economy, they just had to serve. And because everything went green. And they needed it right now.

They upended their farming and agricultural production. Any of this sound familiar to anyone? Everything had to be organic, and everything had to be grown with new rules. Now, the World Economic Forum said it was going swimmingly. They said, quote, the plan is delivering impressive results. The current government has created 460,000 jobs. So you know, the government doesn't create jobs.

The current government created 460,000 jobs. Helped more than 260,000 families secure a home. Strong progress is being may. The government is also invested to generate green energy. And provide water resources for agriculture production. You see, look at all the things, when you just decide to Build Back Better. Look at all the wonderful things that come.

That's when it first started. Four years into it, we need to update the scorecard. This is what followed that initial push, bankruptcy, inflation, default, shortages of food, shortages of commodities, shortages of fuel, violence in the streets. And in the end, the organizations that supported them and pushed them in that direction, the organizations like the IMF and the World Economic Forum, just walked away. WEF just ran an article.

Reporting on how Sri Lankan public workers are now being given extra days off. That's fantastic. Do you know why they were given extra days off? Quote, so they can grow their own food, end quote.

Now, does anybody in Davos, anybody like George Soros. Yes. I know some people have to be hurt. They'll be hurt.

Yes, they'll lose their business. Or whatever. It's a great experiment. And lots of fun for me. Do you remember him saying that?

They don't feel guilty. The IMF doesn't feel guilty. To them, entire countries are mere casualties of war, in their grand experiment. It's the same thing with socialism, and communism, and progressivism. One by one, the experiment fails. Nations fall. Thousands, sometimes millions die or starve to death.

And they never say, well, crap. Jeez. That was our fault. They say, it wasn't done right. Well, they didn't check all of the boxes. Whatever the excuse is. It's never their fault. They observe the ashes from afar. And then they double down, and try it again. Remember, what they did to Sri Lanka, the next time you hear Klaus Schwab say, now it's time for great reset. Whenever you hear him say that. Whenever you hear about Build Back Better, whenever you hear about our agricultural industry needing to go green. Whenever you hear about how Russia is causing the gas prices, I want you to think Sri Lanka.

Remember, Biden and John Kerry say, we just have a few short years, to get this done, in America. Yeah.

Don't worry, you'll own nothing. And you'll be happy.

So far, they have the first part in Sri Lanka right. They own nothing.

Now, if they could just get the happiness part, they would be set. Have you noticed also in the Netherlands? What's happening also up in the Netherlands?

Have you seen? The Netherlands are forced to go green as well. The Netherlands, of course, are part of this great reset. And there's Dutch farmers. These Dutch farmers, they don't like this Green New Deal. They oppose these pollution cuts.

My goodness. They just won't play along.

Well, they'll get it eventually. So now the farmers, in the Netherlands. The Dutch farmers, have you ever heard of anyone in the Netherlands ever getting upset at anything?

They're now taking their tractors in, and they're -- they're bringing their tractors in, and they're blocking trucks. They're burning hay on the streets.

They've taken -- they've taken crap from animals. And poured it on the steps of the Capitol. This is because, they -- they can't use the fertilizer that they've been using. That -- that -- that nitrogen oxide and ammonia. Oh, man.

We can't use that. Because that's not natural. You know. That's ammonia? Nitrogen? No. That's not natural. We can't do that. They say, it's going to close down accidental farms. It will shut down their farming ability.

It will cause mass starvation, they say.

So we could either listen to the experts. Or we could listen to the people who actually grow the food. And have been growing our food. Forever.

You're right. We should probably listen to the experts. This is happening. Look for civil unrest. Look for inflation be unrest. You will see this happening all over the world.

This goes to something I told you in 2009. Would happen. They're all going to blame the United States. In the end, they will blame the United States. And half of our own damn people, will blame the United States as well.

Let's put this blame right squarely where it belongs. On the shoulders of the elites. That are running all of our countries.

Because this is happening all over the world. They think they know better. They don't.

Stand in that truth for a while. I have much more confidence in you solving things, even though Stu and Pat didn't solve a darn thing, while I was gone. I gave you two weeks, not one problem has been solved.

STU: I thought you said, screw up a bunch of stuff like Sri Lanka. And we -- I thought we were following your guidance.

GLENN: Right. Okay. He's talking -- okay. No. Uh-uh.

I have more confidence in the American people than I do in expert. I think if we would just leave this to our cities and local governments, we would be fine. We would be fine.

You know, government, you just do the things, you know, there's only a handful of things. You just do those things for a while. And we're going to watch, make sure you actually secure our borders. You actually are -- have you heard the latest?

We're about to lose about, I think, is it a quarter of our National Guard?

Because they won't get the vaccine. Well, why is anybody talking about the vaccine, still?

So we'll lose a lot of our National Guard because of the vaccine. 22 percent of the police in San Diego, gone. Why?

They wouldn't get the vaccine. So they just let go 22 percent of the police. What could possibly about it wrong?

I mean, there's not -- I mean, no. We don't need police. We're going to reimagine the police. And then we're going to do something about it. And we do it, it will be great. Trust us.

To our veterans...

Americans are bad at saying "thank you." So, this Veterans Day, Glenn wanted to take the time to make it clear: "Your country remembers you. Your country needs you. And your country is grateful in a way that language will never quite capture. Thank you."

Transcript

Below is a rush transcript that may contain errors

GLENN: Hello, America. It's Veterans Day, and I want to start there in 60 seconds. First, debt is like gravity. It pulls. It pulls back on you constantly, until one day you realize, you're not moving forward anymore. And the worst part of it, most of it is just accepted. We call it normal. We make the minimum payments. We don't -- the rates come down. And we keep spinning that same old wheel, wondering why we're tired all the time. But it doesn't have to be that way.

American Financing is helping people all over the country restructure their mortgage. You know, pay off high-interest debt. And regain real financial freedom.

They're family-owned. They work for you. Not the banks. Their mortgage consultants don't earn commissions. They take the time to listen and build a plan that actually fits your life.

And it will help you keep more of what you earned.

Because every dollar you save. Is a piece of your life you're getting back. It's American Financing.

They're helping you keep more of it. And in a world where everything is getting more and more expensive, that kind of control isn't just smart, it's a little bit liberating and empowering.

The start of something much, much better. Please, call American Financing at 800-906-2440. 800-906-2440. Or you can go to AmericanFinancing.net. That's AmericanFinancing.net.
(music)

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GLENN: It's Veteran's Day, and I want to speak to one person, right now.

You!

The one who raised a hand and swore an oath that didn't end when your enlistment did. It was an oath that was older than your commanding officer. Older than the branch you served in. Older than even the nation itself. Because what you swore to defend was not a government. Unlike every other oath that every military man takes all over the world, you swore an oath to an idea.

And today, in a country that sometimes feels dizzy from spinning arguments, I think we should pause and anchor ourselves again to you.

To the men and women who tethered this republic to reality, when the storms came.

We have an amazing story.

If you really know the story of Lexington when the farmers left their plows and damp fields. Because liberty whispered their names.

They met at their church. Their preacher met them out.

They didn't have a chance of them winning.

I think of the -- the Marines who fought through the gas and the mud until the Germans called them devil dogs.

The beaches of Normandy, where boys who had never even see France saw eternity in a single morning on a single beach!

And the men who fought in Korea. And Vietnam. Kuwait. Fallujah. The Skies over Baghdad.

Every generation has a chapter that is written in blood and grit, and it was written by people who never asked for a statue. All they wanted was a chance to come home! And some didn't. And their stories end on foreign soil or carved into white markers in rows so straight, it almost breaks you.

But their gift to us, never ends.

At least, as long as we remember them and you.

Because every -- every free breath we take is borrowed from them! And you. If you're a veteran listening right now, maybe you came home to a grateful nation. Maybe you quietly slipped into civilian life, wondering if anybody saw the weight that you were carrying.

No matter your circumstance, know this: You need to know this.

Millions see you! Millions are grateful. You changed the destiny of my children. And they will never know your name.

You changed my life, in ways you will never understand.

I wouldn't be able to be here, and say these things if it weren't for you!

We take -- we take all of this so lightly. It was you that stood between tyranny and who those couldn't defend themselves.

Have you kept the promise. Most citizens like me. We never make. We never have to make.

Because always did. And you continue to do so.

It's amazing to me, when you are off into war, most times, not every time, we think about you all the time.

We want to give you the very best when you're at war. And then you come home, and then, eh, and you have the worst of our health care. I mean, at least mine was go to Canada to get the health care. I don't know if it's any better up there!

We're not really good at saying thank you. Let me just take just a second, to say it plainly and clearly to you. Thank you. Thank you for walking into the unknown when the rest of us stayed home. I don't know what your motivation was, when you joined. But thank you for believing that liberty was worth more than comfort.

Thank you for the nights you didn't sleep. Thank you for the holidays you missed. Thank you for the kids you didn't see born because you were someplace else.

Thank you for the friends you still mourn. That's why you did it.

Because you're a brotherhood.

Thank you and all your brothers.

Thank you for every scar. The ones we can see, and the ones we will never see.

Thank you -- thank all the families. Thank you for what you've done. The quiet platoon behind every soldier and sailor and airman and Marine and Coast Guardsman, because you served too.

Freedom has always been a family burden. And look at what those families are like. They're usually remarkable!

We live in a world right now that feels -- feels really loud and divided. And suspicious.

And it is!

But, I mean, wanted to take a minute on this day, and let everything just be quiet.

Gratitude has a way of silencing nonsense.

And I want you to know, how grateful I am.

So before we got back into the headlines again, before the noise rises back up, let me end this with the only words that really matter, to every veteran of the United States armed forces. Your country remembers you. Your country needs you. And your country is grateful in a way, language will never quite capture.

Thank you!

Is this the REAL reason Democrats ended the shutdown?

Buried in a recent New York Times op-ed about the end of the government shutdown is the quietest confession you’ll ever hear from the elites: "Why can’t Republicans just accept reality? These [Obamacare] healthcare subsidies are working." But who are they working for? Healthcare prices are still incredibly high! Glenn reminds us what "subsidies" really are: money "borrowed" from the future to hide the failures of the present, and lining the insurance companies' pockets.

Transcript

Below is a rush transcript that may contain errors

GLENN: So is the shutdown over? I mean, it has to go to the House, and now the House is saying that they're not going to pass it.

STU: Well, the House should be -- I don't think there's any real belief that they won't pass it. The hurdle was the Senate. And they got through the Senate. Now we get to watch the ongoing democratic Civil War, about whether or not Chuck Schumer will be removed or not.

GLENN: It's crazy. It is crazy.

So, you know, let me go through something that came in from the New York Times. What were the Democrats thinking?

It starts out, in this op-ed, back in September, when I was reporting an article, Democrats should shut down the government, I kept hearing the same warning from veterans of past shutdown fights.

President controls the bully pulpit, and parts of the government will stay open, and he decides what parts close.

It's very, very hard for the opposition party to win a shutdown. Blah, blah.

Now they have brokered a deal over the weekend, as the Senate Democrats broke ranks and negotiated a deal to end the shutdown, and return for, if we're being honest, very little according to the New York Times.

The guts of the deal are this. Food assistance, both SNAP and WIC will get a bit more funding. There will be a few more modest concessions on spending levels elsewhere in the government.

Laid off federal workers will be rehired, and furloughed federal workers will be given back pay.

Most of the government is funded, only until the end of January. Get ready, we'll be doing this again.

The deal does nothing to extend the aspiring affordable care tax credits, which Democrats essentially have shut down the government for, in the first place. First of all, it's not the affordable care tax credit.

That's -- that's not why you shut it down.
There are tax credits, yes.

But this is different. These were the government subsidies. Leave it to the New York Times. Let me lay this really clear. Democrats demanded a continuation of the enhanced subsidies for the American care act. Okay?

They were temporarily expanded during the pandemic. These were not the tax credits. These were extra subsidies stuffed into the 2021 American rescue plan, as an emergency measure. Remember, the one, we had to pass this in the middle of the night. And nobody could read it. Well, that's what it was in it. And these subsidies lowered the premiums more than usual. Expanded the eligibility far above the original ACA income caps. And was always designed to be temporary just for COVID.

So if you were in COVID, and I lost your job, and you didn't have health care or whatever, you could get on the ACA.

Even though, you're -- you're -- your salary was higher than it would be accepted.

Normally. You could get on it.

But once -- once they created this, Washington does what Washington always does, and they won't let it go.

Okay.

It's not the tax credit. To understand why this shutdown will end with such a whimper, you need to understand the strange role the ACA subsidies played in it. Democrats said the shutdown was about subsidies. But for most of them, it wasn't. This is the New York Times saying this.

It was about Trump's authoritarianism. It was about showing their base and themselves, that they could fight back. It was about treating an abnormal political moment, abnormally.

The ACA subsidies emerged as the shutdown demand because they could keep the caucus sufficiently united. They put Democrats on the right side of public opinion, even though self-identified MAGA voters wanted the subsidies extended.

And they held the quivering Senate coalition together. You shut the government down, with the Democratic caucus that you have, not with the Democratic caucus that you want.

But the shutdown was built on a cracked foundation. There were Senate Democrats who didn't want a shutdown at all. There were Senate Democrats who did want a shutdown. But thought it was strange to make their demands so narrow. Was winning on health care premiums really winning the right fight?

Shouldn't Democrats really vote to fund the government, turning towards authoritarianism, as long as health insurance subsidies are preserved? And what if winning the health care fight was actually a political gift to Trump. Now, this is the New York Times.

Absent a fix, the average health insurance premium for 20 million Americans were more than double. The premium shock will hit red states really hard.

Trump's long time pollster had released a survey of competitive house districts. Showing that letting the tax credits expire. Might be lethal to Republican effort to see hold the House. Why were the Democrats fighting so hard to neutralize their best issue in 2026. The political logic of this shutdown fight was inverted. If Democrats got tax credits extended, if they won. They would be solving a huge electoral problem for the Republicans. If Republicans successfully allowed the tax credits to expire if they won, which would be handing the Democrats a cudgel which would beat them in the next elections. This is unbelievable!

I mean, they're saying -- they're saying it out loud. You know what I mean?

They go on in this, to say, you know. Quote, why can't Republicans just accept reality. These health care subsidies are working.

No. They're not. No, they're not.

They are propping. Okay?

They're scaffolding. Holding up a structure that was never sound.

They were a COVID-era brace jammed under a tottering wall. And now, the same architects who swore the House -- the House was safe. They're telling you the splintered wood was actually part of the design. What?

This is the power the mainstream media has. The press still has over mainstream Americans. It's kind of like a hypnotic choke hold.

You say the word subsidy enough times with the right sad piano music under it, and suddenly, we forget what subsidies are. Here's what subsidies are, gang!

Money borrowed from the Chinese. But we're not on the hook for it. We're not on the hook for it.

Money borrowed from the Chinese, from the future, to hide the failures of the present on decisions that were made in the past. Okay?

And now we're told, if we don't just keep borrowing forever, America will collapse. No. What collapses is this crazy illusion. Let's be clear about something the op-ed never will admit. The Affordable Care Act didn't fail because of Republicans. It failed because math is a stubborn thing because insurance is not health care.

Because a program bent around bureaucrats and middlemen will always cost more and deliver less!
We have been subsidizing the symptoms. We never treated the disease here. And now, when a shutdown touches those subsidies, suddenly we're told the sky is cracking. TikTok is flooded with panic videos scripted by algorithms that can't really be trusted.

The influencers don't even know what they're defending. They just know fear pays better than the truth. And here the truth. The system was failing long before Trump. Long before Biden. Long before COVID. And maybe, just maybe, this moment is not a crisis, but an opening.

You know, I've said this for months now.

The greatest political opportunity of our lifetime now, is health care reform! Real, actual reform.

Not another Washington quick fix. Not more subsidiary easy or anything else. Not a Band-Aid over a bullet wound. But the Republicans won't do anything about it. I believe, and I say this without hesitation, I think. That Trump and RFK Jr. together may be the only combination force in American politics with the will to take a flamethrower to the bureaucracy, that is choking doctors and nurses. The pharmaceutical lobby, the insurance labyrinth, the 50 states wrapped in 50 different versions of red tape. All of it has to be confronted. And here's why Trump can't afford to miss this: If he solves even a quarter of this problem, if he can find the way to lower costs, if he increases access. If he frees the market to actually work across state lines, he'll not only win in 2026.

He'll be launching a momentum, that will carry Vance into the presidency in 2028.

This is the key here!

But he has to remember something Washington has long forgotten. The people he's negotiating with, they don't want a deal. They don't fear collapse.

They come it. They have been playing a slow motion Colour Revolution. One that the company has to be impoverished. Has to be frightened. And has to be divided to accept the new power structures.

Colour Revolutions only work if your people are hungry, if they're afraid, and they believe the people in the head of the government are authoritarian.

When that happens, you can have a Colour Revolution. And every day, America does not break. Every day, the economy still stands. Every day, people wake up and realize their lives are not as hopeless as the media insists.

The revolutionaries lose their leverage. So the shutdown is not the crisis.

The crisis is the addiction to government medicine. So here's the battle line that matters, I think, most right now: While the press spins, you know, panic, Trump has to gather the brightest minds. The innovators, the disrupters. The people who build things, rather than manage decline. That's what he does best. You know, if Elon Musk could do for NASA, what Washington could not. Then why can't we find. Maybe even get Elon Musk. Why can't we unleash the same kind of thinking on health care.

It's time for radical thinking!

Imagine a system where your doctor spends more time listening, than actually checking boxes.

Imagine competition across state lines. Imagine prices that behave like normal prices because the market is finally allowed to work and government doesn't have its finger on the scale.

Imagine freeing the nurses and the physicians from the paperwork prisons they're in. And letting them practice medicine again.

This isn't utopian. That's just uncaptured America. The America before the bureaucratic glacier, settled over absolutely everything in our lives.

Trump is the one that can do this. He's -- he's hitting home runs, grand slams, all -- all the time.

All the time.

Health care is the crack in the wall, where sunlight is still getting through. If you solve this, if you solve the pressure and you -- you lower the pressure on the engine behind the Colour Revolution, you win!

You win. I'm not even talking about election.

You save the republic.

You solve this.

And you solve the fear that drives half of our political dysfunction.

Washington thinks the shutdown is a battlefield. It's not!

The battlefield is health care. The future is decided there. And the man who breaks that system open. And let's Americans breathe again, will shape this country for a generation.

And the only guy to do it, is Donald Trump.

THE GLENN BECK PODCAST

They're WATCHING You... The Terrifying Truth about Phone Surveillance

What if your phone knows what you’ll do before you do? Glenn Beck and former Navy SEAL Erik Prince expose the terrifying reality of modern surveillance, from the government’s secret data networks to Big Tech’s behavioral tracking systems. A global “surveillance capitalism” industry has been born, merging private corporations with intelligence agencies. Today, every app, ad, and algorithm harvests your movements, conversations, and even your thoughts. This conversation reveals how smartphones have become digital soldiers quartered in your home, and how privacy, freedom, and free will are vanishing in the age of data control.

Watch the FULL Interview HERE

America’s Economy Has CANCER - The Brutal Reality of What Trump NEEDS to Do Now

Glenn Beck warns that America’s economy is suffering from a deeper disease... one that can’t be cured by printing money, free checks, or political spin. With inflation rising, housing unaffordable, and healthcare collapsing under government control, Beck argues the nation faces a “cancer” that only painful but honest reform can heal. He and Stu Burguiere break down why short-term fixes like subsidies and stimulus will only fuel the crisis, and why the only real solution lies in deregulation, competition, and courage. Will Americans endure the hard medicine needed to save the nation, or turn to socialism out of desperation?

Transcript

Below is a rush transcript that may contain errors

GLENN: Welcome to the Glenn Beck Program.

Stu does not share my -- my optimism. And I -- you know, I think that's too strong of a word. I'm not optimistic.

I am hopeful that someone in Washington, on our side understands what we're facing here. That health care is the biggest win!

It's the biggest win. And totally winnable.

STU: Yeah. And I do think -- if -- you know, if it was the top priority of Donald Trump. I think, he would be able to move Republicans toward trying to come up with something, I guess.

But I don't show much optimism on that. Because as I was going through that whole scenario, it wasn't just that we said these rates would go up, and that the Affordable Care Act wouldn't be affordable and gave all of the reasons that wound up playing out with risk pools and everything else.

And it wasn't also that we would say, hey. They're going to try to solve this by more government subsidiary easy. And more dependence on government.

We said all that stuff. And that's what we just talked about.

But other thing we said was that after this thing got passed, the Republicans would bail on opposing it. We would no longer have an opposition. We're now to the part of the story where the right-wing position is just normal Obamacare.

And the left-wing position is new expand, fancy, times ten Obamacare. The question of whether we triple down on Obamacare.

Or double down on it. That's now a conservative position.

GLENN: Okay. So let me give you some hope.

I talked to Dr. Oz. And he said, they're introducing something here in the next couple of months.

Should be, any time now.

And it will be done at the state level. And it will be to stop all the barriers from state to state.

And you get -- you get your -- your -- your funding for different programs if you get rid of those barriers for your insurance companies.

And if you don't, well, you don't get your funding. And so they will be incentivized to do it.

So I do think that there's some thinking about this, that's going on, with RFK and Dr. Oz.

In fact, let's see if we can get them on. Maybe I'll go up to Washington and do a podcast with him.

Because I think this is the big win here. Because if you look, you have to -- you have to change the life of people, in the next 15 months. Twelve months, if you want to win the election!

And if you -- if you want to win with J.D. Vance. You're going to have to do it in the next 18 months, at the very minimum, okay?

It's going to get harder and harder to do it.

So you have -- you have the things. What are the levers the president has in front of him?

Housing. What is the problem with the housing market?

The housing market, there's a couple of problems.

One, we don't have -- we have a shortage of housing. Okay. Because everybody freaked out. You know, 2008, we had a housing glut. Now, maybe we should go to other way.

So we didn't build enough houses. So now we have this giant housing shortage.

So can the president fix this one quickly?

No. Millions of houses need to be built. And how is he going to do it?

Unless there's a land grab, okay?

Unless he opens up federal land, which we saw how that one went. So he can't really fix the housing thing. He could help it, by saying, "Hey, BlackRock, you guys stop buying houses."

But how do you do that?

I mean, is that the right thing to do? I mean, it's the right thing to do for the people. Constitutionally, can you do that?

I don't know. I don't think so.

The next cost that people are feeling. Electricity. What are you going to do with that?

Well, we know that he's building power plants. Or he is -- he is letting the red tape go, on the power plants.

So if you want to build a power plant, you can build a power plant, in record time.

But that, again, is 18, 24, 36 months away. Minimum! Before you have new power plants, where you'll start to see your electricity costs go down. So you can't do that. Food costs. What is he going to do?

Import cheaper food. That's not a good idea.

So what are you -- how do you affect the average person's money? Well, you can send them free money. Which means, we have to print more.

He's going to send free money. It's the money that he's been taking in from the trade barriers.

So he's saying, he's going to send a $2,000 check to people. And that's the first time I've ever seen a check where the money was actually money.

That we had. Not printed money.

But that's all you can do. You can even do that. That's all you can do. Because you can't print money. You can't have a stimulus. Or you will Jack the prices of everything up.

And you're in the same loop over and over and over again.

The only place where the government has the tools, has enough sway, Donald Trump could do this.

To start breaking this thing up.

Is health care. And that could change things pretty much overnight.

Within 12 months, if he acted today, within 12 months, you would start to see prices come down. You would start to see competition.

You would start to see some sort of relief. But what else does he have, Stu. What else can he do, that will change people's lives. And he knows he has to do that.

STU: Well, I mean, I -- generally, I think I agree with most of that.

I think that the health care is one, you could do.

Again, that's something you sign up for on an annual basis.

Even if the prices did drop, it would take a while for that to come in.

The easiest way to do this -- and he's, by the way, done a lot of this -- is deregulation. You know, I think what's happening with some of that. And we're not seeing tons and tons of results from that, is because I think he's doing things on the other side as well.

That are affecting prices the opposite way. So we're not going to see massive drops.

Of course, a lot of this -- there's a lot of big promises that are being made. When you talk about prices coming down, really fast. It's not always achievable.

The president of the United States. We said this for 100 million years, I feel like again, we're on repeat here. The president of the United States is not the guy that sets prices. That's not his job, right? He doesn't micromanage the economy.
He can do things that can help the economy. I think what's happening now, as you're pointing out. I think this is the desperation a little bit seeping into our politics.

Is that there were -- Trump won the election with a lot of people who had faith in him. Not because he was good on even the border or on -- you know -- you know, trans kids. You know, trans men playing women's sports. It was about -- it was that affordability issue. He was really good on that.

People believed that they would see an economy like they saw in 2018 to 2019, in his first term. And we're just so far, not really seeing that.

Now, there's a lot to unwind. From where Joe Biden was. And the way these prices work. When it comes to inflation. Is not necessarily that prices drop down.

That's what is so devastating about a long-term inflation like the one we got from Joe Biden.

The prices get to a set level.

You don't necessarily bring those prices down. As much as, you slow the increase.

Which is difficult.

GLENN: Yeah. Yeah.

STU: Again, one of the focuses of Trump's economic plan is to try to draw a lot of these products to be made in the United States.

As you point out, that is a long-term process.

You're talking about way after Donald Trump is -- is out of office, before you're seeing the -- what -- the potential theoretical benefits of new factories being built in the United States.

It's going to be to take a long time for that to work, if you believe it's going to work. When you're talking about the other side of that. Which is, you know, increasing prices, based on different taxes and such.

You're -- you're winding up with a situation where you're taking the medicine, and you're waiting for those results to kick in over multiple periods of years.

So I think the way he can do a lot of this stuff.

The best thing he can do in a quick way. Is cutting regulation.

You can cut out a lot of this stuff, to increase the speed of the improvement. Like, you want to build a new power plant. He can cut those things from 12 years, to four!

But that's not going to -- it's not an immediate, you know, economic win.

GLENN: No.

STU: What you're talking about.

GLENN: The country has cancer. That's the problem. The country has cancer.

And we can survive. But it's -- going to take chemotherapy and a long time. And so you can't just go in.

If you have cancer, you can't go in and say, well, you know, you told me yesterday, you were going to start chemotherapy, and I had my first chemotherapy, and I feel worse.

And I'm not getting any better.

"It's been six months, Doc. And I'm not feeling any better."

Yeah. You're not going to feel any better at first. Because it's a serious disease. That's the issue that we're dealing with. The damage -- and we said this under Biden. We said this under the first Trump. We said this under Bush. You know, Reagan was saying this. At some point, the -- the sickness is going to be so bad, that there's not going to be anything that feels good to do. And it's going to get harder and harder to take the medicine.
And unfortunately, you know, everybody wants a quick fix. You know, when Reagan came in. And everything was out of control, you remember what Paul Volcker did?

You remember this, Stu?

STU: Yeah.

GLENN: You weren't old enough. But you know it through history. What did he do?

STU: He had to get rid of inflation. That meant jacking up rates. And that was a painful period.

GLENN: To what? To what?

STU: Eighteen to 20 percent, in that range.

GLENN: I think at the top it was 20 percent interest rates. I remember 19 percent interest rates. Nineteen. People are freaking out over five or six. We had 19 percent interest rates. That stopped everybody from buying. You want to talk about not being able to afford a house.

That was it! But that's what sucked all of that money back in.

Well, you can't do that right now. Because the patient is so sick, you can't -- those interest rates will kill everything. It will kill all the jobs.

The whole thing will collapse. So you can't do that. But we're complaining on 5 percent. You know, and we're wanting them lower and lower and lower and lower.

Well, yes.

I want that too. Because there are signs that jobs are going away. But jobs going away is not just the interest rate. It is also AI and automation.

We are in this really ugly place, that we don't have these honest questions, and really explain to each other, exactly what's -- what all of the forces are. You're going to get socialism.

Because that will seem like the only answer.

Just make it stop. Just make it stop.

Well, okay.

But know what all of the forces are that are causing all of these things.

And there is a way out of it.

It just cannot be done in two years!

It can't be!