Jim Cramer tells Glenn how to get rich carefully

February 27, 2014

Writer

Mad Money host Jim Cramer joined Glenn Beck on TV last night to talk about smart investments and his new book How To Get Rick Carefully.

WATCH:

Read the transcript of the interview below:

Glenn: All right, I want to bring a longtime friend onto the program, Jim Cramer. He’s the host of CNBC’s Mad Money, author of a new book Get Rich Carefully. Jim, welcome to the program.

Jim: Glenn, great to see you. Thank you for support all the years.

Glenn: You pioneered a lot of stuff that I watch.

Jim: You took it to where we should all go.

Glenn: You have a new book, Get Rich Carefully, and I want to talk about you’ve got seven things. I put them up on the chalkboard, seven things. I’m not comfortable talking to you without pacing.

Jim: Yeah, I mean, what are we doing? Let’s get our hands dirty.

Glenn: You talk about getting rich. I am concerned that we have printed so much money that the stock market’s bogus. It doesn’t mean anything anymore.

Jim: You know, that’s why I’ve always told people, put some in gold, please. Put some in gold. I believe in it. I have some. It’s the antidote to the currency. And when people say, you know, when I say put some in gold, people think he’s a gold bug. I am a believer that gold will retain its value, and so therefore everyone should have a good percentage.

Glenn: Right. Nobody should put everything in anything.

Jim: No, but I think that that’s the antidote, because I think, look, our grandchildren are going to be looking at this deficit and saying why didn’t dad buy some gold?

Glenn: We have $17 trillion in debt. At some point we have $40 trillion in debt, and the only thing that’s going to be worth anything is an asset, which brings me to number seven on your list. What is this list?

Jim: Okay, these are the big themes that are going to last far more than let’s just say far more than next year or next five years, probably ten years. The one I’m most proud of is the one that is most…it is still hard to find people who believe with me we are in an oil and gas revolution in this country. Because of American technology, we have found oil where we thought there wasn’t any, and this is our chance for greatness. It’s our chance for more jobs. It’s actually our chance for ascendancy back.

Glenn: Yeah, it’s our chance of survival, because if we don’t take it out of the ground, we have $40 trillion in debt at some point. China or whoever else is just going to say you know what guys, pay up. You’ve got nothing, and they’ll just take it.

Jim: Our trade deficit which is something that’s hurt all our workers in this country, right? I don’t want to say it gets 100% cured because we still take a lot of product from countries that won’t buy our products. Those are products of bad trade deals that we’ve made, but oil and gas is something that, it’s tangible. It creates jobs. The Keystone pipeline would create more jobs than any one project, but most importantly Texas, Oklahoma, New Mexico, Montana, Colorado, North Dakota, Pennsylvania, Ohio, wherever there’s fracking, there’s jobs.

Glenn: Pennsylvania and Ohio, think of that, it’s dying. Upstate New York, Kodak is a ghost town. All of that stuff is a ghost town, and you drive through upstate New York, and it’s nothing but anti-fracking nonsense.

Jim: The southern tier is filled with natural gas. The southern tier is probably one of the highest unemployment areas in our country, and this state, unlike Pennsylvania, this state doesn’t understand those are actually good jobs, especially pipeline jobs. You know that’s high-paying jobs for people who may not have graduated college. Is that okay to help them? You can even get, you know, truck drivers, you’re making $90,000 a year in North Dakota. We just don’t have enough people there.

Glenn: Okay, come here and talk to me about some of these. Okay, so we have oil and gas. Let’s go stealth tech. What is stealth tech?

Jim: Okay, stealth tech, we have a lot of companies, we think about personal computers, really haven’t done that much. Where I’m saying the real technology is being done in companies like Colgate. Now, I know that sounds boring.

Glenn: The toothpaste people?

Jim: Yes, but we have taken back huge amounts of the emerging world with our own technology making the best toothpaste much cheaper. You know, we should not minimize this. These are scientists from our countries doing good things. The one that is my favorite is actually Under Armour.

Glenn: Hold on just a second. You’re actually telling me that toothpaste may be something that we’re turning the country around with?

Jim: No, but at least we’re taking back some jobs from some foreign companies.

Glenn: We’re down to toothpaste, America.

Jim: I want to celebrate some of our ingenuity.

Glenn: No, I appreciate that, but it’s sad. It’s toothpaste.

Jim: No, we’re just not as bad as we think we are. That’s how I like to feel about us.

Glenn: Okay, so Under Armour, because you’re saying stealth tech because I don’t think of Under Armour as technology.

Jim: Well, I mean because they develop product that keeps you cool when it’s hot and keeps you warm when it’s cold, and that’s this guy, Kevin Plank, who’s really a great American. People don’t talk enough about him. He calls himself the world’s sweatiest man when he comes on Mad Money. He just decided you know what, I have to infuse apparel with technology in order to be able to take on a Nike, which is also a great American company that has terrific technology.

Glenn: Okay let’s go to number three, make money work in the new frugal environment.

Jim: When my father and his parents got out of the Depression, they never spent again the way that they did before that, okay? We have come out of a horrendous recession, not strongly enough, but we’ve come out. Well, we turned more frugal. I shop at TJ Maxx, which is very good. I belong to Costco. I like to shop there. Yeah, I like to buy the store brand. You know, I would go to Rite Aid, and I buy everything that’s Rite Aid. I don’t need to buy the fancy stuff.

Glenn: You don’t need to buy something from Colgate?

Jim: Well, I mean, they have good technology, but –

Glenn: Okay.

Jim: But I just think that we’re smarter about shopping.

Glenn: And that’s because, I mean, do you buy into, I looked through your book, and I’m looking at the pages in the book and the charts. And I’m like I don’t understand any of those charts. But do you look at the charts, as a guy who doesn’t understand all that stuff, I look at bad news, bad news, bad news, stock market up, and say there’s something wrong. Do you buy into this crap?

Jim: I think that a lot of what happens with the stock market is about profits, and a lot of companies are able to make more money by firing people or moving jobs offshore.

Glenn: But at some point that’s bad.

JimL Well, for societally, unless you can be involved in the stock market, it’s definitely bad because how do a lot of our companies make money? Okay, well they close their factories here and then move them to Mexico. And we have this thing called NAFTA which is universally loved by everybody except for the people who lost their jobs, the millions, and that is the way that companies make more money. I mean look, you build more cars in Mexico, that means you build fewer cars here, okay? And we bring them up. We don’t charge you any tax on that, and that’s how those companies are making more money.

Glenn: Is there any industry that you’re, I mean, there’s so many, and you’ve got to read the book to understand all seven of these, but is there anything, is it number seven? Is there anything that you see on the horizon that you’re like that’s your answer for America?

Jim: I think that when you look at where the natural resources, you know, we are a strong natural resource country. Now we have an anti-fossil fuel government, Republican and Democrat, but you know what, all that means is we export the jobs to countries that pollute far more than we do. And do you think that pollution stays in China? I mean, I’ve seen that map. It’s like, you know, my kids know, it’s like a big, big world. If we are able to exploit our natural resources unfettered in a very smart and reliable way, much better than almost every other country, by the way, then we can become a stronger and a self-sufficient continent.

Glenn: I will tell you that we were just talking about it, and you just said continent. I was just telling you that we were talking beforehand. I never thought that I would hear somebody say you know, Canada has a great government. And then I would go yes, it does. Two places to live, Texas, Canada. The name of the book, Get Rich Carefully by Jim Cramer. Good to see you.

Jim: Thank you, Glenn. Thank you very much.

Critical theory destroys truth and justice

Editor's note: This article was originally published on TheBlaze.com.

Critical theory once stood out as the absurd progressive notion that it is. Now, its maxims are becoming an integral part of ordinary political discourse. The more you repeat a lie, the more you will believe it, and this is the very dangerous place in which we find ourselves today.

Take this critical theory maxim as an example: If we desire justice, we must sometimes champion what may appear superficially as injustice. It's a necessary evil, if you will, the necessity of “controlled injustice.”

By using truth through fabrication and controlled injustice for justice, we’ll save the republic. We’ll be acting in a noble way.

This definition of justice is defined by the “oppressed,” not the “oppressor.” It is the greatest happiness for the greatest number. To achieve this justice, however, we need to endorse acts on occasion that, while seemingly unjust, serve a higher purpose. It will ensure the stability and the unity of our republic, and this may manifest in ways that seem contradictory to our values. But these are the necessary shadows to cast light on “true justice.”

And isn’t that what we are all after, anyway?

Here’s another critical theory maxim: Sometimes we find the truth through fabrication. Our pursuit of truth sometimes requires a strategic use of falsehoods. The truth is a construct that has been shaped and tailored to promote the well-being of the collective.

We sometimes need to accept and propagate lies designed by "the system” — not the old system, but the system that we’re now using to replace the old to get more justice through injustice and more truth through fabrication.

We’re engaging in a higher form of honesty. When we fabricate, it’s for the right reason. We are reaching up to the heavens fighting for a higher sort of honesty. To fortify the truth, we occasionally must weave a tapestry of lies. Each thread, essential for the greater picture, will ultimately define our understanding and ensure our unity under this infallible wisdom.

The election is coming up. Does this maxim sound familiar? Many think it is imperative that we secure our republic through election control to maintain our republic. Sometimes, we might need to take actions that by traditional standards might be questionable.

The act of securing elections requires cheating. It's not mere deception. It is a noble act of safeguarding our way of life. We're on the verge of losing this democracy, and without deception, we will lose it.

To ensure it doesn't fall into the hands of those we know will destroy it, we may have to make a few fabrications. We're fabricating stories to be able to control or secure the republic through our elections. By using truth through fabrication and controlled injustice for justice, we'll save the republic. Therefore, we'll be acting in a noble way. Stealing an election from those who wish to harm our society is truly an act of valor and an essential measure to protect our values and ensure the continuation of our just society.

If we desire justice, we must sometimes champion what may appear superficially as injustice.

I know it's a paradox of honor through dishonor. But in this context, by embracing the dishonor, we achieve the highest form of honor, ensuring the stability and the continuation of our great republic.

Let this be heard, far and wide, as a great call to patriotic action. As we advance, let each of us, citizens of this great and honorable republic, consider these principles. Not as abstract or paradoxical but as practical guides to daily life. Embrace the necessity of controlled injustice, the utility of lies, the duty to secure our electoral process, and the honor and apparent dishonor. These are not merely strategies for survival. They are prerequisites for our prosperity.

We all have to remember that justice is what our leaders define, that truth is what our party tells us. Our republic stands strong on the values of injustice for justice, honor through dishonor, and the fabrication of truths. To deviate from this path is to jeopardize the very fabric of our society. Strength through unity; unity through strength.

We've heard this nonsense for so long. But now, this nonsense is becoming an instituted reality, and we are entering perilous times. Don't be fooled by the narratives you will hear during the march to November. Never let someone convince you that the ends justify the means, that a little bit of injustice is needed to achieve a broader, collective vision of justice, that truth sometimes requires fabricated lies and narratives. If we do, justice will cease to be justice, truth will cease to be truth, and our republic will be lost.

Top 5 MOST EVIL taxes the government extorts from you

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"In this world nothing is certain but death and taxes." -Ben Franklin

The injustice of taxation has been a core issue for Americans since the very beginning of our country, and it's a problem we have yet to resolve. This belief was recently reignited in many Americans earlier this month on tax day when the numbers were crunched and it was discovered that the government was somehow owed even more hard-earned money. As Glenn recently discussed on his show, it's getting to be impossible for most Americans to afford to live comfortably, inflation is rising, and our politicians keep getting richer.

The taxpayer's burden is heavier than ever.

The government is not above some real low blows either. While taxes are a necessary evil, some taxes stretch the definition of "necessary" and emphasize the "evil." Here are the top five most despicable taxes that are designed to line the IRS coffers at your expense:

Income Tax

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"It would be a hard government that should tax its people one-tenth part of their income." -Ben Franklin

On February 24th, 2024 we hit a very unfortunate milestone, the 101st anniversary of the 16th Amendment, which authorized federal income tax. Where does the government get the right to steal directly out of your paycheck?

Death Taxes

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"Now my advice for those who die, Declare the pennies on your eyes" -George Harrison

Not even in death can you escape the cold pursuit of the tax collector. It's not good enough that you have to pay taxes on everything you buy and every penny you make your entire life. Now the feds want a nice slice, based on the entire value of your estate, that can be as much as 40 percent. Then the state government gets to stick their slimy fingers all over whatever remains before your family is left with the crumbs. It's practically grave-robbery.

Payroll

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"The power to tax is the power to destroy." -John Marshall

What's that? The nice chunk of your paycheck the government nabs before you can even get it to the bank wasn't enough? What if the government taxed your employer just for paying you? In essence, you make less than what your agreed pay rate is and it costs your employer more! Absolutely abominable.

Social Security

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"We don't have a trillion-dollar debt because we haven't taxed enough; we have a trillion-dollar debt because we spend too much." -Ronald Reagan

Everyone knows the collapse of Social Security is imminent. It has limped along for years, only sustained by a torrent of tax dollars and the desperate actions of politicians. For decades, people have unwillingly forked over money into the system they will never see again.

FICA

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"What at first was plunder assumed the softer name of revenue." -Thomas Paine

FICA is the payroll equivalent of Social Security. Your employer has to match however much you pay. It means it costs your employer even more to pay you—again, you'll NEVER see that money. At this point, are you even working for yourself, or are you just here to generate money for the government to frivolously throw away?

5 DISTURBING ways World War III will be different from previous wars

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Has World War III begun?

Over the weekend, Iran launched an unprecedented attack against Israel involving over 300 missiles and drones. This marked the first direct attack on Israel originating from Iranian territory. Fortunately, according to an Israel Defense Forces spokesperson Rear Admiral Daniel Hagari, 99 percent of missiles and drones were successfully neutralized by Israeli defense systems. Iran claimed that the operation against Israel had concluded and that no further offensive was planned, although the possibility of another attack is still present.

This has left many people, including Glenn, wondering the same thing: did we just witness the start of World War III?

Glenn recently had a World War II Air Force Veteran as a guest on his TV special, who told stories of the horrors he and his brothers-in-arms faced in the skies over war-torn Europe. This was a timely reminder of the terrors of war and a warning that our future, if it leads to another world war, is a dark one.

But, if Glenn's coverage of the Iranian attack revealed one thing, it's that World War III will look nothing like the world wars of the twentieth century. Long gone are the days of John "Lucky" Luckadoo and his "Bloody Hundredth" bravely flying their B-17s into battle. Over the weekend, we saw hundreds of autonomous drones and missiles clashing with extreme speed and precision over several different fronts (including space) simultaneously. This ain't your grandfather's war.

From EMP strikes to cyber attacks, here are FIVE ways the face of war has changed:

EMP attacks

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The entire modern world, on every level, is completely dependent on electricity. From your home refrigerator to international trade, the world would come to a grinding halt without power. And as Glenn has pointed out, it wouldn't even be that hard to pull off. All it would take is 3 strategically placed, high-altitude nuclear detonations and the entire continental U.S. would be without power for months if not years. This would cause mass panic across the country, which would be devastating enough on its own, but the chaos could be a perfect opportunity for a U.S. land invasion.

Nuclear strikes

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Nuclear war is nothing new. Many of us grew up during the Cold War, built fallout shelters, and learned to duck and cover. But times have changed. The Berlin Wall fell and so did the preparedness of the average American to weather a nuclear attack. As technology has advanced, more of our adversaries than ever have U.S. cities within their crosshairs, and as Glenn has pointed out, these adversaries are not exactly shy about that fact. Unfortunately, the possibility of an atomic apocalypse is as real as ever.

Immigration warfare

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The strategy of strangling an opposing nation's economy to gain the upper hand is a wartime tactic as old as time. That's why the Border Crisis is so alarming. What better way to damage an opponent's economy than by overburdening it with millions of undocumented immigrants? As Glenn has covered, these immigrants are not making the trek unaided. There is a wide selection of organizations that facilitate this growing disaster. These organizations are receiving backing from around the globe, such as the WEF, the UN, and U.S. Democrats! Americans are already feeling the effects of the border crisis. Imagine how this tactic could be exploited in war.

Cyber shutdowns

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Cyber attacks will be a major tactic in future wars. We've already experienced relatively minor cyber strikes from Russia, China, and North Korea, and it is a very real possibility that one of our adversaries inflicts a larger attack with devastating consequences on the United States. In fact, the WEF has already predicted a "catastrophic" cyber attack is imminent, and Glenn suggests that it is time to start preparing ourselves. A cyber attack could be every bit as devastating as an EMP, and in a world run by computers, nothing is safe.

Biological assault

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Don't trust the "experts." That was the takeaway many of us had from the pandemic, but something less talked about is the revelation that China has manufactured viruses that are capable of spreading across the globe. We now know that the lab leak hypothesis is true and that the Wuhan lab manufactured the virus that infected the entire world. That was only ONE virus from ONE lab. Imagine what else the enemies of America might be cooking up.

The government is WAGING WAR against these 3 basic needs

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The government has launched a full-on assault against our basic needs, and people are starting to take notice.

As long-time followers of Glenn are probably aware, our right to food, water, and power is under siege. The government no longer cares about our general welfare. Instead, our money lines the pockets of our politicians, funds overseas wars, or goes towards some woke-ESG-climate-Great Reset bullcrap. And when they do care, it's not in a way that benefits the American people.

From cracking down on meat production to blocking affordable power, this is how the government is attacking your basic needs:

Food

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Glenn had Rep. Thomas Massie on his show where he sounded the alarm about the attack on our food. The government has been waging war against our food since the thirties when Congress passed the Agricultural Adjustment Act of 1938. They started by setting strict limits on how many crops a farmer could grow in a season and punishing anyone who grew more—even if it was intended for personal use, not for sale on the market. This sort of autocratic behavior has continued into the modern day and has only gotten more draconian. Today, not only are you forced to buy meat that a USDA-approved facility has processed, but the elites want meat in general off the menu. Cow farts are too dangerous to the environment, so the WEF wants you to eat climate-friendly alternatives—like bugs.

Water

ALESSANDRO RAMPAZZO / Contributor | Getty Images

As Glenn discussed during a recent Glenn TV special, the government has been encroaching on our water for years. It all started when Congress passed the Clean Water Act in 1972, which gave the government the ability to regulate large bodies of water. As the name suggests, the act was primarily intended to keep large waterways clear of pollution, but over time it has allowed the feds to assume more and more control over the country's water supply. Most recently, the Biden administration attempted to expand the reach of the Clean Water Act to include even more water and was only stopped by the Supreme Court.

Electricity