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‘Social Media Doesn’t Reward That’: Why Can’t Conservatives, Liberals Listen to Each Other?

How do we heal division in our country when we can’t even have conversations?

“I really feel one of the biggest problems is nobody’s listening at all,” Glenn said on today’s show while sitting down with Eric Liu. “Nobody feels heard right now.”

Liu, founder and CEO of Citizen University, leans liberal in his political views but has the same passion for bringing people together. He pointed out that we’ll have to be better than our political leaders if we want to reach across the aisle. We’re learning terrible habits from our political leaders and the way social media encourages extreme views.

“That’s a set of habits that nobody’s modeling for us in national politics,” Liu said. “Nothing in our daily lives rewards that. Social media doesn’t reward that.”

Listen to their full conversation on today’s show here:

This article provided courtesy of TheBlaze.

GLENN: So much to the, I think, chagrin of my friends and chagrin of his friends, we are friends, Eric Liu. He is the founder and CEO Of Citizen University. Also, the executive director of the Aspen Institute. Citizenship and American Identity Program.

He's -- he's from Seattle. I don't think I need to say anything else. He's from Seattle.

(laughter)

GLENN: So we don't necessarily agree on everything. But we have become friends because we both are trying to find sane ways to have conversations with each other and other people. Or we're doomed. We're doomed.

Welcome. How are you?

ERIC: Glenn, it's great to be back. It's great to see you.

GLENN: How is Seattle?

ERIC: It's beautiful. It's thriving. It's booming. You know, you grew up in the area.

GLENN: I know. I love it. I love it. I love it.

I don't think I would be welcomed there anymore. I don't think I was welcomed there ten years ago, let alone today.

ERIC: Well, we'll follow-up and bring you back together, and we'll do something in Seattle.

GLENN: Yeah, good. I would love to.

So would you agree with me that both sides, to one degree or another, have become unhinged on the extreme edges?

ERIC: Yeah. I think our politics today, and especially if you spend more than ten minutes on social media, it is about voices on the unhinged extremes.

GLENN: Yeah.

ERIC: And it's about this pattern that plays out over and over, where each extreme has to gin it up in order to feed the rage and the anger about the other side's extreme.

GLENN: Yeah.

ERIC: You know, that is our politics as it's mediated, you know, especially through social media. But I think -- you were talking about this before we went on-air. There is a broad swath of, you know, sane people. You know, interested bystanders. People who aren't super active in politics, super active in commenting on politics, who just want to understand each other, and who just want to fix stuff.

GLENN: Yeah.

ERIC: And some of them are as progressive as I am. And some of them are as Libertarian as you are. And many of them are all points in between. But they're not interested in the game-playing and the posturing that so much of national politics is about today.

GLENN: Yeah. I mean, I -- we're making everything about politics now. Absolutely everything is about politics.

And we're not going to survive. That's nuts.

The story today came out on sports -- sports illustrated. They just did a swimsuit issue, that doesn't have any swimsuits. All of the women are completely naked. And they're beautiful women. One is lying down naked, face up with the word "truth" painted on her rib cage. Another one is naked with "feminist" emblazoned on her arm. The other is the daughter of Christie Brinkley that is staring at the camera, laying on her side with the word "progress" written across her back. And they've put this -- this is -- I don't understand this. This is Sports Illustrated, a magazine for men, trying to say, see, we shouldn't objectify women. I don't understand that.

ERIC: Yeah. There's a lot that is great fundamentally about the Me Too movement and the fact that our society is waking up to shifting norms on what's okay when it comes to actually treating women with respect.

GLENN: I agree. I agree. I agree. Yes.

ERIC: But I do not look to Sports Illustrated as my moral guide on the objectification of women. Okay?

GLENN: How do we find a way -- and tell me what your feelings are on the people that, you know, on the -- on the dangers -- even Margaret at wood brought this up, the dangers of just these kangaroo courts, who are not even a kangaroo court. Just, you're guilty, and you're done if anybody accuses you.

ERIC: The danger is there. But I think actually as a society, we're navigate it right now. I mean, this is somewhat uncharted. Right? It's not like the society has tried before to have deep equity between men and women, on what -- who gets to harass whom. We've never done that before. We're having a society-wide reckoning.

Are there going to be cases where people abuse that -- the power that comes with that?

Sure. But are our institutions and are the leaders in our institutions fundamentally trying to reckon with that in good-faith? I actually think we are.

And even this kind of absurd Sports Illustrated cover is a sign that -- you know, one thing you can say about Sports Illustrated is they're trying to tune into the zeitgeist. They are aware of the market place, right? And they know the zeitgeist is, you got to be on the right side of the speech. Right?

GLENN: Yeah. Right. Right.

But if I did photos of naked women and put #metoo, I don't think I would get the pass that --

ERIC: Well, exactly.

GLENN: -- from either side, in my case. From either side.

STU: Yeah.

ERIC: The question is one of -- you know, in the law, they talk about standing. Do you have standing to make a case? Right?

During the Super Bowl, we all watched the ads and stuff. I didn't think Dodge Ram trucks had the moral standing to use an MLK speech about the dangers of commercialism to sell trucks. To me, that was -- and to lots of Americans, that was, you know what, message and messenger not aligned here.

GLENN: You mean the MLK message?

ERIC: Yeah. Yeah.

GLENN: So the MLK message -- may I present an opposite point of view. That's a sermon that most Americans have not heard, was really good. I agree with you that the images of the truck coming in, halfway in. You're like, okay. That's really -- you don't need that.

Just a simple Dodge at the end would have been perfect.

ERIC: Yeah. Yes. Would have been great.

GLENN: However, I have had more email on a monologue that I did on forgiveness, and I used that sermon the very next day. I've had more email on that from people who woke up. So, I mean, you can't necessarily reject it as universally bad that they did it. Because it did affect people.

ERIC: Well, look, I mean, Sports Illustrated was trying to do something like the right thing. But the equivalent would have been, had they had a cover -- if they said, this year's swimsuit issue, here's what it looks like. And it was a black cover that just said, we're taking some responsibility for feeding this culture in which women are treated like objects and which men feel they have permission to treat women like objects. We own a piece of that.

GLENN: And it would be the lowest selling Sports Illustrated.

STU: But that would be a powerful statement. Writing it on naked women's bodies doesn't seem quite as --

ERIC: It would be low-selling as a swimsuit issue. But the whole country would be talking about it. Would be talking about Sports Illustrated.

GLENN: Yeah, that's true. That's true.

So who have you found, Eric, I have been looking for a while, people like you, that we don't necessarily agree, but we can have really good conversations. And we can move things forward together.

ERIC: Uh-huh.

GLENN: Who have you found on the -- on the left or in the media that is really willing to do that?

ERIC: Hmm. You know, and I'm not sure if she's been a guest on your show, but my friend Neera Tanden --

GLENN: Nope.

ERIC: -- who runs the Center for American Progress.

Big, big progressive think tank, that I know you cross swords with. Right? But Neera is both able and willing to have conversations with anybody. And to have them in ways that aren't just the made for TV food fight, that are really trying to say, what's your deal? Right.

What are you getting at here?

GLENN: I really feel one of the biggest problems is nobody is listening at all.

ERIC: Yeah.

GLENN: Nobody feels heard right now.

Somehow or another, the left still controls most of the media. Doesn't feel heard. And the right now that they control the House and the Senate, they don't feel heard. And it's because nobody is -- nobody is actually -- I guess emoting what the average person is feeling right now. You know, we're all scared. It's amazing. I saw a YouTube video of a liberal talking about how afraid she was that Donald Trump was going to build concentration camps. And it was in a room -- probably had 1,000 people in it. And they were all like, yeah, yeah. And I remember, I debunked the lie about Obama making concentration camps. Because that was a big deal.

STU: A big conspiracy theory at the time.

GLENN: Big conspiracy. I was called a conspiracy theorist for debunking that conspiracy theory. And now the other side is feeling the same kind of fear that so many Americans did when they didn't trust the president. And I think this is a moment where we can wake up and say, see, this is why the president should never have this much power. The president should not be able to affect our lives, to the point to where we're afraid of him.

STU: Yeah.

ERIC: I actually agree with that. I think there's one lesson that people on the left are learning today, and that is the dangers of this imperial presidency. Right?

Which is not a Trump phenomenon or even an Obama phenomenon. It's been going back half a century at least, right?

GLENN: Been going for a long time, yeah, yeah.

ERIC: At least since World War II. Right? Concentration, power in the executive, right?

GLENN: Yeah.

ERIC: But I think you're -- I want to go back to something you were saying about listening and being heard, right?

We live in this time right now where there is -- and we've talked about this. There's so much pain. There's so much pain.

The segment you were doing right before the break, in which you were just speaking to a human, an individual about the pain they were feeling in their journey. And you were tying it to the pain that you have felt at various points in your journey, right?

That kind of conversation which is both about listening -- but it's about, I'm not just listening to the words you're saying and the points you're making. I'm trying to listen underneath, to the emotional currents there. That's a set of habits that nobody is modeling for us in national politics. And that we as citizens, frankly, it's gotten easier for us to shed those habits. Because nothing in our daily lives rewards that, right? Social media doesn't reward that.

GLENN: The media doesn't reward --

ERIC: The media doesn't reward that.

So we've actually got to build experiences where we see each other face-to-face again. You know, if we were having this conversation by phone, this would be different. But I'm looking you in the eye right now, Glenn. And I'm looking at you as you've spoken about these questions. And there's a human connection here. That I can't now just call you a nutjob and call you a this and call you a that. Like, we've connected on some level, right? It doesn't mean we're going to agree on the issues.

But it means I'm not going to demonize. And I think the deepest ill in our politics is how we've forgotten how to rehumanize each other.

GLENN: That's -- I just wrote a member of the press morning, a private conversation, that dealt with that. I said, we are -- we are calling each other subhumans, exactly the way the early, you know, 1920s Nazis were starting to. Train people that you're subhuman. If you don't agree with me, you're subhuman. And we're training each other that way.

But it doesn't -- social media is not the only one that doesn't reward it. Media doesn't reward it either. I mean, if you're not going to call somebody a nutjob or a Nazi. You don't win. And they don't put you on. And you, Stu -- was it you yesterday that said that you had seen somebody say, no, well, on the surface, this means X and X. And the guy was like, no. But that's -- can you tell the story?

STU: Yeah. It was an interview about some controversial comment that had gone on media. And they had brought someone on to kind of answer for it. And the typical kind of cable news back and forth. And that's essentially, when the person was pushing back against it. To say, yeah, but you got to admit on the service, it's an insult.

It's like, well, isn't the point here as human beings, that we go beyond the surface, that we think a little deeper about these things?

Because we can all get frustrated at the surface of it. We can all find the worst possible intent of a comment and turn it into something that is going to enrage our side. But that shouldn't be our goal.

GLENN: So, Eric, how do we do that?

ERIC: Well, it starts with something I actually want to give you guys credit for, which is, you got to put something at risk. Right?

When you started a couple years ago saying, I own my piece of how our politics and our political culture have gotten toxic. And I've decided I want to be part of the solution. I want to start reaching out and having conversations across certain divides, right? You put a bunch of stuff at risk.

You feel it acutely, right? You feel it every day. You put -- I don't have to name it. Right? It's not just about the business side of things and the listeners and the sponsors or whatever. I'm talking about reputational power and so forth, right? You put stuff at risk.

And I often ask myself and I ask my friends who are left of center, what are we willing to put at risk in order to change this politics? In order to go a little deeper, beyond the surface and beyond just this throwing of flames at each other? Right.

So number one, it's being willing -- and I want to name the fact that you all have started something and set in motion a different cycle of responsibility, taking rather than responsibility shirking with, right?

GLENN: Thank you.

ERIC: There is only one way to break the cycle of dehumanization and responsibility shirking, and that is to break it.

GLENN: Yeah.

ERIC: That is to say, you know what, I didn't start it. I'm not the one to blame. But darn it, I'm actually just going to say, I'm stopping right now, and I'm trying to change direction here. Go a little deeper. And rehumanize. And, yeah, I may pay some price for that. But this is a question of purpose.

STU: One of -- a famous poet said, we didn't start the fire.

GLENN: It was Billy Joel. Stop it.

ERIC: A poet. Yes, indeed.

(laughter)

GLENN: So what do your friends say to you, when you say, what are we willing to lose? What chip are we willing to put up?

ERIC: Let me tell you about something we've been doing at Citizen University. For the last year plus now, a year and a quarter, we've been doing these regular gatherings that we call civic Saturday. And these are basically a civic analogue to church. It's not church. It's not synagogue or mosque. But it's about American civic religion. Right? The stuff that you and I, civic nerds, are steeped in. Right? Understanding the language and the texts and what you might think of as civic scripture, whether that's from the declaration of the preamble or King speeches or Susan B. Anthony or whatever it might be, and understanding that we have all inherited this body of values and text and idea. And we do these gatherings with the Ark of the Faith gathering.

We sing together. You turn to the stranger next to you. You talk about a common question. There are readings of these texts.

There's a sermon that I've been giving. And then afterwards, there's more song. And then there's an hour afterwards where people kind of form up in circles and talk about, what are we going to do together? Right?

And I go to length to tell you about this, because number one, it's been amazing how people have responded to this. There is this need, across the left and the right, whether you are traditionally religious or not, there is this need in our political life for a space where we can come together and rehumanize, right?

Number one. Number two, when in that space, I've said to folks in these sermons what I've said here, which is, we've got to be willing to take risks. We've got to be willing to ask ourselves, what are we willing to put on the line?

And people are -- people sit there for a minute because they haven't been asked/challenged to do that in a long time, right? All of our political leadership is about, let me indulge you. Let me indulge your worst instincts. Let me indulge you. Not what can you do? And maybe even give up a little bit, in order to start solving the problem, right? And that leads to different kinds of conversations.

And, frankly, not all of them are about Trump or national politics. A lot of these conversations then come to life in our city, which is changing dramatically right now.

GLENN: That's what it should come down to in the first place.

ERIC: Yeah.

GLENN: Eric, we're going to continue our conversation at 5 o'clock tonight on the Glenn Beck Program. He has written a book, You're More Powerful than You Think. His name is Eric Liu. And we'll have more tonight at 5 o'clock. Make sure you join us on TheBlaze.com/TV.

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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(music)

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.

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