RADIO

Why there may be NO WAY OUT of today’s ECONOMIC MESS

We’re in an ‘IMPOSSIBLE’ economic spiral, Glenn says, and there might be no way out of it. In this clip, Glenn explains exactly what’s caused America’s current, economic trouble. He explains why European nations will be the first ones to deal with the worst of it, and how specific action from the Federal Reserve could ‘hasten the end.’ Plus, Glenn says why he fears there’s no way out of this economic MESS: ‘I think we're in this spiral now. There's a way to slow it down. But there's not a way to stop it.’

Transcript

Below is a rush transcript that may contain errors

GLENN: The U.S. CPI surges to 40-year highs. Food and shelter costs soar.

The inflation numbers are not good. Service inflation continues to rise, as goods inflation slow. Food and shelter is kind of way up.

Let me take you through some of these. Food inflation is extremely high. We are looking at over 13 -- between 13 and 14 percent. Of food inflation.

Shelter inflation is up almost 7 percent, and the highest on record. Rent inflation, up 7.21 percent. The highest on record.

There -- we're in -- we're in trouble. And the thing that should have happened along ago, is raising the interest rates.

But our fed and -- and our Treasury, and our president, who is still in denial, is -- is -- you know, said to us, no. There's not going to be to us inflation. Don't worry about it. Well, here we are.

And to get ourselves out of it, is going to be a real trick.

STU: Is there a way out of this? I feel when I talk to you, I feel as if there isn't a way out of this.

By the way, in case anyone is interested, this is what it's like, working with Glenn Beck every day. You just come in. Hey. Something great happened at home. My kid had a great score on a test. And then you come in and want to kill yourself. That's life.

GLENN: So here's the problem: Do you want the weather answer? That was good.

STU: I guess when I'm here, I want the real answer.

GLENN: Yeah. Okay. So let me preface this with this. This used to be something where I would say, I think this is coming. Okay?

We're in the place now, where it's all math. And so it is coming. All right? And you're starting to enter the zone of death spiral. We're not there yet. I believe England is just beginning its death spiral. Europe will go first.

Okay? And then it will be us.

But we're in this spiral. Let me start with England. England just a few weeks ago, all their retirement funds crashed, okay?

And their retirement funds had invested -- see if any of this sounded like 2008. Had invested in things that were risky, but were marked stable. These things will never go down. Okay?

STU: Right.

GLENN: So as they started to go down, margin calls came in. And, you know, it's like if you own -- if you own a house, and you've borrowed money on the house. Okay?

And for to buy something else, your house goes down, the bank calls and says, wait a minute. You have a second mortgage here. And your house is not worth what it was. We need you to put more money down, for that second mortgage. Okay?

That's a margin call. So the margin calls came in. And nobody had the money. Everybody was like, wait. But those weren't supposed to go down. So what did they do? Bank of England, which said we'll stop printing money, we'll stop everything.

They had to either let all their retirement funds collapse. So they'll learn their lesson. Or we'll just print more money. They chose print more money.

Here's the problem with the situation that is happening in -- in England and all around the world.

Two things. One, England was talking about tax cuts. Okay?

Well, they were scheduled anyway. It was not this big tax cut thing.

STU: No. Totally overblown.

GLENN: Totally overblown. However, that's symptomatic of the problem we're facing here.

The government and the central banks are fighting each other. I think they're in on it together, quite honestly. But they're doing the opposite things.

By having tax cuts and not lowering the spending of the government, two things happen. You're taking the spending that the government is already just pouring out, way too much money. Okay?

And then you're adding money, and you're putting it in, like fuel injection, right to -- you know, right to the cylinders. And so you're getting that engine to fire up even hotter. Because they're giving it right to you, so you go out and spend it. That makes inflation go up.

At the same time, the central banks are saying, no, we've got to raise interest rates, to bring inflation down, and suck up that money.

Well, you're working against each other. So it's broken. It's not -- it won't work. Okay?

The other thing is it can't work anymore. Because everything, especially energy, are priced in dollars. So all these countries especially in Europe, have to buy more dollars because energy is going up. So they sell our treasuries to get more dollars. But as they buy more physical dollars, the dollar goes up, and they're inflating their money. So their money --

STU: They're printing new money to buy these dollars.

GLENN: So their money goes down, ours goes up. Which means they have to print more, to get our dollar to go up. Or sell more treasuries.

All of that is bad. Because it's just a spiral, that goes out of control.

STU: Right.

GLENN: Here in America, we have the same thing. Where is the main -- what is the main -- inflation has been happening since 2010. Okay?

And it is out of control inflation. But nobody noticed it. The answer was, where was inflation? Do you know?

STU: I mean, the stock market.

GLENN: The stock market. Exactly right.

The stock market doubled in price. And everybody was like, how is this -- and all the experts were like, oh, no. You have some really good fundamentals happening. No, you didn't. You had the Treasury and the fed dumping money into these giant corporations, which were investing back into themselves.

That was inflation. Because you weren't getting bailed out.

They were. Constant flow of that money to the elite.

They put it in the stock market. Which made all of the stocks go up. That was inflation.

But you notice, we didn't pay the inflation prices, at the supermarket. Because we weren't getting bailed out. And we didn't have a disruption in -- you know, in the supply chain. Now you really hit with both.

Now they've dumped trillions of dollars into the market with regular people. They went out and spent it. At a time where production is at an all-time low.

Too much money. Way too much money. And way too few goods. Now inflation is up. What is the government doing?

Well, Social Security today.

STU: 8.7 percent is the cost-of-living increase. The highest since 1981.

GLENN: Yeah. So what is that going to do?

STU: I mean, it's already one of our biggest expenses.

GLENN: Correct. So we're going to have to borrow more money. To pay for that.

STU: And all of those scary scenarios, about Social Security were all based on scenarios, where there weren't high cost-of-living increases. They were as low as they've been for years and years and years. Those rates are never going up, as you know, Glenn. Now that you have, and now it's 8.7 percent. That will blow up all those assumptions that we had, that were already terrible.

GLENN: All of those assumptions, which brings up our national debt. We have to pay a higher interest rate on that. Which then, also, the government is going to get that debt funded by the fed. So they'll print more money. For every retiree, and that number is going to go through the roof here soon.

For every retiree, you're going up almost 10 percent. So a that means almost 10 percent more, for everybody having Social Security.

Where is the money coming from? So you're in a death spiral, and if the fed raises the interest rates any higher, I mean, it -- it could be criminal. It could be criminal.

STU: Oh, but they are going to do it.

GLENN: They can't do it.

STU: But they've been saying they will do it for months.

GLENN: Right. And if they do, they'll I'm going to be hasten the end.

STU: But their argument would be, inflation is out of control.

GLENN: It is.

STU: By the way, the new numbers as you point out, only extend that narrative. This has not worked so far.

GLENN: Do you remember when I said, you know, 15 years ago, you have to control this now. Because the fed will be out of bullets. They won't be able to raise the interest rates high enough, to control inflation. And to pay for everything, we're going to have to print more money.

That time, is no longer theoretical, it's now, okay?

And we are at the beginning of this.

STU: But interest rates have been much higher in the past.

GLENN: Yeah. But you had labor. You don't have labor. Okay?

We had labor. We had product. We could sell things. We have a problem of not just too much money, we have too few goods.

Okay. You can't buy the -- have you ever lived in a time in America, where it's been like this. Where you go to a store, and you just can't get it.

STU: I mean, you're describing a country where you order a car in 2021, and it's not delivered until October 2022. That's a crazy world. I can't imagine a country like that.

GLENN: Correct. So like car inflation. Why is car inflation -- because it's not of regular inflation? It's because the product doesn't exist.

STU: Yeah.

GLENN: So it's just driving the prices up. So you have both of those things.

Back when you could raise interest rates, to 19 percent, you still had a healthy supply chain. You still had, you know, people that would work. We have people that won't work now.

We have plenty of jobs. It's like 1.6 jobs for every person that's willing to work. That's a lot of jobs that we could still fill. But people won't work. So you not only have the supply chain, because you can't get the materials. You can't get the people to assemble it. And then, because of that, the price goes up. Because there's just no access to them. So a here's the price level.

Then what do you have? Then you have people not being able to afford it. So they need to get a bailout from the government. Which prints more money.

And then the government is going to come in and say, price controls. We have to push that price back down. But then you put everybody out of work, because companies can't afford to make them. There's a reason the prices are going up. It's like gas. They're ripping people off. No! You're doing everything you can to destroy oil and the market. So, of course, the price is going to go up. You want the price to go down?

Take all of these restrictions away. So you're in this impossible spiral. I'm telling you, I don't just it's going to be -- I don't think there's a way out. I've talked to a lot of people.

I just -- I think we're in this spiral now. There's a way to slow it down. But there's not a way to stop it.

It's going to have to crash. We're going to pay. I've said this for years. You're going to have to pay the bill.

I do not know how it ends. It's going to end in some sort of economic reset. And I worry, with the kind of reset that everybody is talking about.

But you have to do the responsible thing. You are -- I want you to know how important you, as an individual are.

You are doing the hard part now. Most people don't want to know it. They don't want to know it.

There's nothing I can do. Yes, there is.

Information is power. Look, Book of Revelation. Did God give that to us to freak us out?

Because I don't know about you. It's kind of scary.

He gave you the information, so when you see these things happening, you're not freaked out.

Because everybody else is going to go, what the hell is going on?

And you will be calm enough to say, I know what's going on. Don't even go that way. Go this way.

We have to rely on each other. I'm convinced that this audience saves everything, in some form or another. There's a reason we're together.

And honestly, it is an honor to serve you and to help you. I'm doing my part. Your part is to listen. And then at some point, you're going to have to take it.

That's coming. It's coming.

TV

The ONLY Trump/Epstein Files Theories That Make Sense | Glenn TV | Ep 445

Is the case closed on Jeffrey Epstein and Russiagate? Maybe not. Glenn Beck pulls the thread on the story and its far-reaching implications that could expose a web of scandals and lead to a complete implosion of trust. Glenn lays out five theories that could explain Trump’s frustration over the Epstein files and why Glenn may never talk about the Epstein case again. Plus, Glenn connects the dots between the Russiagate hoax, the Hunter Biden laptop cover-up, and the Steele dossier related to the FBI’s new “grand conspiracy” probe. It all leads to one James Bond-like villain: former CIA Director John Brennan. Then, Bryan Dean Wright, former CIA operations officer, tells Glenn why he believes his former boss Brennan belongs in prison and what must happen to prevent a full-blown trust implosion in American institutions.

RADIO

Rumors explained: Is Fed Chair Jerome Powell OUT?!

After rumors spread that President Trump would soon fire Federal Reserve Chair Jerome Powell, Trump has said that he's "not planning" on it right now. But is it possible for Trump to fire him? Will he resign? And how is the Fed Chair even chosen in the first place? Glenn and his head researcher Jason Buttrill explain ...

Transcript

Below is a rush transcript that may contain errors

GLENN: Well, last night, I was rapidly looking the lie some of these rumors, on X.

Pretty incredible people on what's going on with Jerome Powell and the fed.

What the heck?

I was actually popping popcorn and watching this. It was so crazy.

GLENN: So it's just the rumors, that he is going to be stepping down?

JASON: Well, yeah.

Yeah. Anna Paulina Luna. Congresswoman. She was saying, it was almost imminent, that he was about to be fired. Actually fired.

There were other rumors saying, well, we're not sure about fired.

But he's considering resigning.

GLENN: Yeah. You know why.

JASON: We were like, what the heck is going on?

GLENN: So do you know why?

Do you know why he's resigning? Any guesses? I mean, you had popcorn out. I would love to hear what you have come up with.

JASON: So there was the CPI stuff coming out. The interest rates going up.

We know that the President wants interest rates to come down. I'm assuming that is what the deal is, and there's some sort of internal battle going on.

GLENN: Well, and the president can't fire the Fed chief. Okay?

So the Fed chief is the one that nominated. The federal reserve is the biggest crock of bullcrap I've ever seen in my life.

It's nothing, but the five biggest banks. Okay? And you know which ones they are. They're the ones that keep getting bigger. And everybody else is falling to the wayside.

So the Federal Reserve is the arm of those five banks.

Okay?

And they suggest, who the president can select from.

So the president can't say, I don't want any of these guys. I want this guy. Can't do it.

He has to take a look at the list that all the banks have put together. Is. Say, pick from this list, Mr. President.

Did you know that?

JASON: It's kind of how Iran chooses their next president.

GLENN: It's exactly. It's exactly that way. Except, this religion is all about the almighty dollar.

Okay. So he can't -- he can't pick on his own. But the president has a right to pick one, you know, every term. If it comes up in his term.

The president wants this guy out. And I think he's been really, really bad.

Because he's been wrong on almost -- on almost everything. But show me the -- show me the Fed, you know, the guy who the Fed was right ever.

So he can't fire him. But he wants him out. Because he wants interest rates dropped.

And, you know, the jobs are coming back. Things are coming back.

But interest rates keep coming up.

And the -- and the interest rates, if we keep our interest rates high, we have a harder time borrowing money for our debt.

And it just gets more and more expensive for everybody all along. So the president wants him to back off interest rates. But the Fed chief believes that that could cause more inflation.

Which I think he's right on that one. And I hate to say he was right on anything.

Because I don't think he was ever right.

Makes me question myself. When he's like, well, I think he might have a point on that one. But the president is like, no. He can handle it.

I want them down. I want cheap money again.

He refuses. So what has the president done?

The president can only fire him, with cause!

So what do you do when you can only fire somebody with cause, and you want them out.

You find a cause, and this one is easy.

So the Fed has been the one leading the way saying, we can't keep borrowing money.

We've got to have some fiscal sanity. Right?

This is going to kill us. We have to keep these interest rates high, because you are borrowing too much money. And maybe this is the only way to stop you.

So we got to keep it high, because you've borrowed too much money. And how many times has he testified in front of Congress? We've got to cut. We've got to cut. You can't keep spending like this.

Okay? Well, did you know that the Federal Reserve, with our tax dollars, the five biggest banks, a/k/a the Federal Reserve, is redoing their offices. To the tune of two billion dollars!

Now, I don't know what kind of wallpaper they need there.

But that seems like a pretty hefty renovation, especially when everybody is looking at cutting things. And you're lecturing me about spending money. So they get money from the government, okay? They're telling us, stop spending.
Stop borrowing.

Except, okay. What you've borrowed. I need $2 billion of that, to redo our offices in Washington, DC.

Excuse me?

Why don't you do that yourself. Okay. I think banks maybe have some money.

So they're borrowing that money, and there's $700 million over.

So it's $2 billion. $700 million over budget. And they're still not finished.

And the problem is: They're putting in water features.

They have a rooftop garden they're building.

JASON: Okay.

GLENN: I mean, it is -- it's insane. The president now knows, really? You want to play this game with me. I will sit your ass down in front of Congress, and you answer to the American people, how you're lecturing us about spending. And you're putting in a rooftop garden and a water feature in your office. No! No.

So the president is now threatening, I'll fire you for this. You want to quit, now would be the time to quit.

Otherwise, I'm dragging your butt in front of Congress.

You answer to the American people for this. And they will beg me to fire you.

That's what's happening.

JASON: I looked at that a lot.

Because I was like. There's got to be some leverage that the president had, because they can't get rid of.

But that is a pretty big cut. That sounds like a Babylon Bee article. $2 billion.

GLENN: It does. It does. $2 billion, 700 million over budget.

JASON: Oh, my gosh.

GLENN: I mean, and these are the responsible bankers. No, I don't think so.

It just shows, they don't mean what they say. They'll just keep doing it for themselves. You know, if you really believed that America was really on that financial cliff, why would you do that?

You would lead the way and say, guys, we are going to be the only responsible ones here.

We will lead by example.

No renovation. You know what, go to IKEA?

You need a new desk. Go to IKEA, and get a new desk. Well, we have to keep up our image. We're not going to have a country.

So what do you say, we go to IKEA?

Our image should be, we are going to lead the way out of this madness!

That's what a leader would do.

JASON: So, Glenn, I still don't think I get this disconnect between Trump and Powell on -- we know Trump wants to lower interest rates.

Powell is standing back and saying, basically, he doesn't want to do it.

Is he trying to undermine President Trump on this?

GLENN: President Trump thinks so. President Trump thinks so.

I think so, to some degree.

I mean, I'm worried about inflation.

Look, you know what happened. Do you know what's happening with yap?

JASON: What's happening with Japan?

GLENN: So what's happening with Japan, is Japan has always had this really amazing image of, we're solid. We're absolutely solid.

This is target to crack. The foundation.

1989.

Let me go back to 1989.

This was the crown jury trial of the global economy.

Back in 1989, you probably aren't old enough to remember.

All of a sudden, Japan owned everything in America. We were just becoming Japanese, and everything was being purchased by Japan. Kind of like it feels a little bit like China now.

JASON: They even owned Nakatomi Plaza, Glenn, that Bruce Willis had to save -- they owned everything in every '80s movie!

GLENN: Oh, yeah, they owned absolutely everything.

Okay? And the -- things were so insane in Japan. The grounds of the imperial palace, in Tokyo, on paper was worth more than the entire value of the state of California.


JASON: Wow!

GLENN: Okay?

So their land. Everything just shot up. And so they had all of -- they were flush with all this cash.

And people believed that Japan had suddenly, you know, cracked the formula for, you know, eternal prosperity.

That's the problem. Then it all started to fall apart. And the asset prices. That they had mortgaged against.

Okay?

They had borrowed. Well, the imperial palace was worth more than California.

That doesn't make any sense. You wouldn't mortgage it like that. At least long-term. I will do this real quick, and pay it off.

You would never, ever mortgage, because you know that's inane. Well, nobody ever wanted -- and it seems in governments, nobody ever wants to believe that this is just a fluke. Okay?

So the asset prices collapse. The stock markets plunged. And for three decades, they have gone into this very polite political coma.

Okay? Economic coma. And so the central bank did something radical. They were the first ones to set your interest rate at zero. They lowered the interest rate. They made money so cheap, it was nearly free. Zero percent interest. Sometimes, they would pay you to take out money.

So the -- they had negative interest rates. Can you imagine that? Now, you're not fixing the problem. You're just printing wallpaper to cover the mold. All right?

So they've done this for decades.

Now their debt is I think 260. Or 280 percent of their GDP.

I think, what is ours?

100?

80 percent.

Something crazy. 120. You never believe back.

The death threshold is usually 120, 140.

They're 260 percent of their entire economy is debt.

That's not a crack. That's a fault line.

So this week. Or was it last week? Things started to creek and grown in Japan.

And the government bonds, which are like our treasuries. Is this getting too complex.

Are you following this still?

JASON: Yeah.

GLENN: Okay. So their government bonds.

They were the safest investments on earth.

One of them. Okay?

It's us. Japan, Germany.

They started to fall.

Hard. And when bond prices fall, interest rates were the easily go up.

All right?

So they borrow all this money.

260 percent of their GDP is borrowed. Okay?

So they borrowed all of that money. And they had it at like 3 percent interest. Whatever.

2 percent interest.

And they were paying people.

2 percent.

Well, all of a sudden, the cracks started to appear. And people were like, I'm not sure this is stable at all.

And then the belief of the system started to -- to go away. So people started selling their Japanese bonds.

Once they do that, now the yields have to go up.

What happens when yields go up?

What happens when interest rates go up? For a government. You have to pay more interest on your debt!

Okay?

You add two or three points.

Just imagine, you have an adjustable rate. Okay?

This is a government having an adjustable rate. Except, they have 260 percent of everything they make, in debt!

And it's all leveraged.

And now, their adjustable goes up two, three, four points.

You're not able to afford that anymore, okay?

So massive problem.

Because what it really means is. People don't believe in Japan.

They know the con game is now over.

And investors are saying, you know, I want a whole lot more in return.

Because I just don't believe you anymore.

And it's not just Japan's problem. This is not a neighbor's house on fair.

This is -- imagine we're all living under the same roof. This is the neighbor's apartment, on fire.

We're all under the same roof. We all have the same foundation. And so when this happens to Japan, you should pay attention. And I'll show you the ripple effects in just a second.

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GLENN: Okay. So now if Japan -- that means there's a stampede out of Japan.

And people are starting to look and reprice the risk of their money.

Now they're like, wait a minute.

The most stable. You know, if you're driving a car and it is the safest car in the world and all of a sudden, they just start blowing up on the highway.

You're like, I don't think that's the most -- that's the safest car on the highway.

And if that's the safest car, what does it mean for the car I'm in?

You know what I mean? So now, this is going to push US interest rates going up.

Which makes our mortgage rates go can up. And our car loans more expensive. And the national debt. Which is already costing us $1.2 trillion a year, just in interest.

Now, they can't sell their treasuries. People are skittish on treasuries. Maybe they come to the United States, but they're not so far.

They're getting out of the Japanese interest. Or the bonds there.

Japan has to pay their bills.

What do you do when you have to pay a bill?

And you don't have any money coming in.

You don't have enough money coming in. What do you do?

You sell something. Right? You sell your car. You sell something that you have of value.

Well, what do they have? What do they hold of value? US Treasuries.

So now, we are trying to sell our bonds, for our new debt, they hold our old debt.

They're saying, hey. Anybody want to buy this debt? Because I have to sell it. Fire sale. What do you give me for it?

Okay?

Which makes that debt more attractive, because they can get a better deal there.

Which means, if we want to have new debt, we have to raise our interest rates. Which means, we pay more for interest for our mortgages and everything else.

And it floods the market with bonds, crushing the prices, skyrocketing the costs for us.
And causing even more trouble, in other countries, that have US bonds. Because they start to look and go, nobody is buying these bonds.

Well, of course not. You have two countries. The two stablest countries besides Germany.

You have the two stablest countries now selling US Treasury bonds.

Okay? Really, really bad.

Now, let me add this on.

Germany is now having to pay for their own army.

And so they said, they're going to borrow money.

To build the army.

And they're going to lower their interest rate. So they can borrow more money. All right?

And now, the German bund, which is -- you know, like our Treasury. That's now starting to fall apart.

Well, Germany has some assets, they can sell.

What do you think that asset might be that they want to sell?

US treasuries.

We have been playing an extraordinarily horrible game.

This is why I believe the president wants somebody else in charge of the Fed, because the Fed can say, we're lowering the interest rates.

Because he's got to get more money into the system. So people can spend money, can start businesses. Borrow money.

Get things moving, so we can increase the amount of taxes that we collect.

The more people money -- the more people make, the more taxes we collect.

So he's like, we've got to grow the economy. And the only way we can grow the economy is to lower the interest rates.

But at the same time, interest rates around the world because of what's happening with the bonds is going through the roof.

We are in a very -- we've never been in this position before.

THE GLENN BECK PODCAST

Why the Term "Conspiracy Theory" is CIA-Created Weapon for Control

Conspiracies are of course real and occur every single day. But yet, many in the media and elite political circles attempt to use the term "conspiracy theory" to smear and discredit those who are skeptical of conventional narratives. Where did this term come from and how should we understand it? Journalist Alex Newman joins Glenn Beck to break this down and how it impacts the world as we see it today.

Watch Glenn Beck's FULL Interview with Journalist Alex Newman HERE

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Chalkboard Breakdown: How George Soros & the 'Deep State' funnel YOUR money to radical groups

Where do these massive left-wing radical groups get all their money from? Much of it is effectively a scam that occurs using your tax dollars to fund these groups that you would never support on your own. Glenn Beck heads to the chalkboard to expose the connections so you can visualize exactly how someone like George Soros manipulates the system.

Watch the FULL Episode HERE: Deep State ON NOTICE: New Tech Traces the USAID, Globalist Money Trail