Do your own homework: 1/18/2011

Lining up post American world. FT article. post-America being center of it. we're arguing about Rush Limbaugh and Nancy Pelosi - people saying nothing will change with China. America isn't special. we're no different. we control culture. Bush would say freedom on the march. what happens when its' on retreat?

GE - sold to dems now to commie china. let's play this out. won't be peaceful election transfer. this is world changing

let's go through problems

citgo & china - sell directly to them in 3 years. leases will be up soon

gulf companies collapsing. since moratorum lifting, only 2 have resumed rilling. china 1.8B people, only 40k under poverty line - they say.

pics of bldg skyscrapers in shanghai and use bamboo scaffolding. closed its doors to bringing in world people. build apartments above world. (pic?) raise salary to $1 from 50cents. star trek reference. episode - half human, half machine. it would erase personalities so all thought the same, etc. comparing to China. move as one. can work against them with instability. labor strikes. talked to a friend in china - ideas spread quickly. fastest turnover of new rice varieties bc can reinvent themselves as farmers quickly. govt says you can make up to this much...political instability, city people rich, bamboo scaffolding, uprising. 2 world collide. double digit growth to keep that from happening. green movement bogus

side by side - new dam. tilted earth off axis. compare to hoover dam. built roots in africa now - investing in resources there. what have they purchaseD? mexico? idaho airport

dont' dishonor investment - here's his analogy. think you have friends go to bank of sicily. nice area, get good coffee. friends say run by mobsters, you say no! it's great. always loan me money. have to put up collaterol but keep giving me money. they just need my assets. when can't pay them back go after house, water reserves, coal, oil, etc. china is our bank of sicily

in few years self sufficient - plenty of people to buy goods they create. don't need rest of world to buy

they won't do for us what we did for others - they'll take our resources if we can't pay it. want their oil. stealth bombers now and money to buy them.  we can't tie up US and give to them with a bow. stop going to bank of sicily. thomas jefferson quote - fastest way to become a slave is to owe money.

China & Oil

(source: T Boone Pickens’ Plan)

  • Since Dec 2007 China has spent $262B on petroleum and “loan for energy” deals to secure future oil production
  • These contracts have potential to bring 7.8B barrels of oil to China
  • China has bid on or bought shares in over 25 international oil exploration & production companies
  • China has committed to exploration, production & petroleum infrastructure construction in more than 26 countries (some are US enemies)

Some of China’s business transactions include the following companies/countries

AUSTRALIA

  • ExxonMobil (Australia) – Exxon & Petrochina $41B contract
  • Sinopec has 60% stake in Puffin & Talbot (Australian co) for $559M

BRAZIL

  • Petrobras (Brazil) – China lent Petrobras $10B in exchange for crude oil for 10 years
  • Statoil (Brazil) Sinochem paid $3.07B for 40% stake in Statoil’s offshore Brazil field

IRAN

  • Sinopec & Iran agreed to $2B deal to develop oil field

RUSSIA

  • China lent $10B to Rosneft & Transneft (Russian companies) at 6% for 301,000 bpd at discounted rate for 20 years
  • Lukoil (Russia) – Lukoil will send 300M tons of crude to China via pipeline for $25B loan
  • OSO Rosneft (Russia) – CNPC & OAO Rosneft agree to $5B venture to build 260,000 barrel/day refinery

SYRIA

  • Shell (Syria) – CNPC paid $1.5B for 35% stake in Syria Shell Petro Development
  • Sinopec paid $2B for Tanganyika (which has interests in Syria)

US

  • US (Chesapeake) - CNOOC will pay $1.1B for 1/3 of Chesapeake’s Eagleford shale resources + $1B in drilling costs

President Wen Jiabao, March 2009

  • President Obama and his new government have adopted a series of measures to deal with the financial crisis. We have expectations as to the effects of these measures,” Mr. Wen said. “We have lent a huge amount of money to the U.S. Of course we are concerned about the safety of our assets. To be honest, I am definitely a little worried.”
  • He called on the United States to “maintain its good credit, to honor its promises and to guarantee the safety of China’s assets

Foxconn Says Two China Workers Injured After Personal Dispute

http://www.businessweek.com/news/2011-01-13/foxconn-says-two-china-workers-injured-after-personal-dispute.html

  • Police were called to disperse two rival groups after a personal dispute began Jan. 6 at the site, where Foxconn employs 22,000 people, the Taipei-based company said in an e-mailed response to questions today. The dispute wasn’t work-related and there was no disruption of business, it said without elaborating on the nature of the problem.

Foxconn engineer jumps to death in China: media

http://www.google.com/hostednews/afp/article/ALeqM5jZBFLSl5PHZ2AFfSmpXq_0oQy3eg?docId=CNG.206e9da30bbd9b6afd57691fa13ac2fe.571

  • Taipei-based Foxconn on Friday said the 25-year-old engineer died last week after falling from her brother's home in the southern boomtown of Shenzhen, where the firm runs a massive complex, according to the official Xinhua news agency.
  • The unnamed employee, who had worked for Foxconn since 2005, had "been on sick leave" at the time of her death after factory officials rebuked her for an unspecified reason and said she would lose her job, Hong Kong media reported.
  • At least 13 employees at Foxconn -- the world's largest maker of computer components, which produces goods for Apple, Sony and Nokia -- died in similar circumstances last year, the official Global Times reported.
  • Following a number of suicides, Foxconn raised wages by nearly 70 percent at its China plants.

Something rotten at Apple's core? Shocking toll of suicides at iPad factory in China revealed

http://www.dailymail.co.uk/news/worldnews/article-1282481/iPad-factory-suicides-China.html

  • Some blame the harsh working conditions imposed by Foxconn for the deaths…Others accuse modern China's spiritual void. And it has been pointed out that in communist China, suicide is considered a crime against the state, so it is the ultimate form of protest.
  • The deaths have become so regular that bloggers have nicknamed the factories in the city of Shenzhen the Foxconn Suicide Express, while managers have set up a suicide hotline and even hired monks to exorcise evil spirits.
  • As well as setting up a suicide hotline and asking monks to bless the factories, it has been reported that the company plans to hire 2,000 psychiatrists and counsellors. Foxconn has also put up fencing to try to stop workers jumping from dormitory blocks. But few people believe the harsh working environment alone can explain the suicides. After all, people are free to leave their jobs.

Life Inside A Chinese Gadget Factory

http://www.businessinsider.com/life-inside-a-chinese-gadget-factory-2009-7

  • When Hu last visited the White House (April 2006), China held $321.1 billion of U.S. debt
  • When the Chinese president visits this week, China will hold $906.8 billion in U.S. debt--- a 182% increase in nearly five years
  • China currently holds about 6.4% of total U.S. debt

Economic Tale of the Tape

China U.S.
GDP
$5.7 trillion $14.6 trillion
Projected 2011 GDP Growth
10% 2.5%
Projected 2011 Inflation Rate
5.1% 2.5%
Unemployment Rate
4.2% (est.) 9.4%
Exports of Goods and Services as % of GDP
27% 11%
Value of Manufacturing Sector (2009)
$1.6 trillion $1.71 trillion
Labor Force
819 million 153 million
Public Debt as % of GDP
17.5% 95%

China’s interest in Idaho

http://www.idahostatesman.com/2010/10/11/1374846/chinese-politics-spotlight-idahos.html#

http://www.idahostatesman.com/2010/12/31/1472023/chinese-company-eyes-boise.html

  • Chinese national company is interested in developing a 10,000- to 30,000-acre technology zone for industry, retail centers and homes south of the Boise Airport. Officials of the China National Machinery Industry Corp. have broached the idea — based on a concept popular in China today — to city and state leaders.
  • They are also interested in helping build and finance a fertilizer plant near American Falls, an idea company officials returned to Idaho this month to pursue.
  • Hoku Materials Inc., a subsidiary of a Chinese energy firm, already has 500 people building its $400 million plant to make polysilicon for solar panels in Pocatello. It expects to begin production in 2011, employing 250 people, said Scott Paul, Hoku’s president and CEO.
  • “Idaho’s the last state that should say we don’t want to do business with Asia,” said Lt. Gov. Brad Little. “Asia’s where the money is.”

'A product of the past': China's president says dollar should no longer be world's top currency

http://www.dailymail.co.uk/news/article-1347984/A-product-past-Chinas-president-says-dollar-longer-worlds-currency.html?ito=feeds-newsxml#

China’s president today raised grave questions over the future of the dollar by claiming it should no longer be used as the world’s reserve currency.

Hu Jintao said that using the American currency as the default for international trade and investment was a ‘product of the past’.

In unusually frank comments he said that even though the arrangement had stood in place since the end of Second World War, now was the time to reassess.

The statement will be seen as another sign of growing Chinese confidence after the Asian giant emerged relatively unscathed from the financial crisis.

America by comparison is more than $14 trillion in debt, a sizeable chunk of it financed by the Chinese.

Tomorrow Mr Hu and Mr Obama are due to meet for talks at the White House in which the so-called ‘currency wars’ will be among the topics up for discussion.

China claims that America keeping its interest rates low is causing inflation around the world, including to its own currency, the yuan.

America argues that it must do so to encourage the U.S. economy to grow, which will be good news for China and the rest of the world.

U.S. officials also claim China is deliberately keeping the yuan lower than it should be, which is harming competitiveness for poorer countries.

In the interview Mr Hu issued a veiled attack when he said that U.S. monetary policy ‘has a major impact on global liquidity and capital flows and therefore, the liquidity of the U.S. dollar should be kept at a reasonable and stable level’.

But he added: ‘The current international currency system is the product of the past’.

Elsewhere Mr Hu sought a more conciliatory tone and tried to paper over some of the differences that have divided the U.S. and China of late.

‘There is no denying that there are some differences and sensitive issues between us,’ he said.

‘We both stand to gain from a sound China-U.S. relationship, and lose from confrontation.’

And he admitted that it it is unlikely the yuan will take over from the dollar any time soon.

‘It takes a long time for a country's currency to be widely accepted in the world,’ he said.

It is unusual for Mr Hu to speak to foreign media and only responded to written questions asked by the Wall St Journal and the Washington Post that were handed to him by his foreign ministry.

The last time he spoke to the American media was in 2008, whilst his latest comments to Western media in general were to a French and Portugese newspaper in November last year.

Tensions between Beijing and Washington have recently flared over China’s refusal to condemn North Korea for its attack on the South.

Chinese officials reacted with fury when the White House congratulated Chinese dissident Liu Xiaobo for winning the Nobel Peace Prize.

In addition, the first clear pictures recently emerged of China’s prototype stealth fighter in a further sign of the country’s growing military power.

A strategy to straddle the planet

http://www.ft.com/cms/s/0/b852a826-2272-11e0-b6a2-00144feab49a.html

Anil Ambani was in ebullient mood last October when he arrived at a luxury hotel in Shanghai to sign one of the biggest business deals of the year. The Indian billionaire's Reliance Power had just agreed to purchase $10bn of power generation equipment from the state-owned Shanghai Electric."It is the largest order in the history of the power sector," proclaimed Mr Ambani, "and the largest single business relationship between India and China."The size of the deal was not its only notable aspect. Shanghai Electric was offering its equipment at about 30-40 per cent below the cost of an equivalent turbine from General Electric of the US. With the generous financing deal offered by China Development Bank and a group of other Chinese banks, the discount was in fact closer to 60 per cent.Welcome to a new era of globalisation, China-style. As the financial crisis recedes, one of the big fears is that the process of increasingly closer links among big economies worldwide will go into reverse as governments and countries look inward. The message coming from the world's second-largest economy for the past year has been clear: China wants to accelerate the integration of the global economy, but on its own terms.Over the past few decades, China has benefited hugely by hitching itself to a process of globalisation where the rules were written in Washington and the American consumer was the buyer of last resort. China prospered by making first the socks, then the washing machines and finally the iPods sold at Walmart.Coming out of the crisis, China wants to forge a new phase of globalisation where many of the roads – financial, commercial and perhaps eventually political – converge on Beijing. China is not seeking a rupture with the international economic system (although some foreign companies are fearful of a technology grab). But it is looking to mould more of the rules, institutions and economic relationships that are at the core of the global economy. It is trying to forge post-American globalisation.

Survivors of drilling moratorium on Gulf face new hurdles

http://www.usatoday.com/money/smallbusiness/2011-01-18-oilreport18_ST_N.htm

Many small regional businesses along the Gulf Coast have largely weathered last year's moratorium on deepwater drilling but could fail if the pace of such drilling doesn't pick up soon, according to a new economic impact study by a non-profit group that studies economic trends.The report, released late last week by Greater New Orleans Inc., says businesses that directly and indirectly cater to offshore drilling rigs — from equipment suppliers to diners — outlasted last year's six-month moratorium by tapping a $20 billion compensation fund created by BP, the oil company responsible for the massive spill that fouled the Gulf of Mexico. As that money dries up and the pace of permitting for deepwater drilling remains slow, those companies may soon collapse, it says."If we don't get some certainty around regulations, we can begin to hit that wall and see that real steep increase in unemployment," said Michael Hecht, the group's president and chief executive officer.The Deepwater Horizon rig exploded and sank off the coast of Louisiana in April, killing 11 crewmembers and unleashing the greatest offshore oil spill in U.S. history.The Obama administration in May issued a six-month moratorium on deepwater drilling after the BP oil disaster. The moratorium shut 33 deepwater rigs, affecting more than 13,000 workers, the report says.Although the moratorium ended in October, only two deepwater permits have been issued since then, compared with 5.8 per month issued before the spill, the report says.If the pace of permitting doesn't pick up, more businesses will suffer and the number of unemployed will increase within six months, Hecht said. Businesses used several tactics to survive the moratorium and retain employees, including restructuring business plans, selling equipment, digging into savings and cutting salaries, the report said. They also benefited from the BP compensation fund, Hecht said."But that's ending," he said. "That false economy is going to go away."Deepwater drilling contributes about $2.3 million to $3.2 million in direct tax revenue to state and parish governments each month and more than $7 million in indirect monthly revenue to state and local governments, the report says.The report found no direct link between the 25,000 jobs Louisiana lost since June and the moratorium. At Port Fourchon in southern Louisiana, however, crane operators and other companies that serve the offshore drilling industry have been extraordinarily quiet lately, port director Chett Chiasson said. More than 20 workers recently were laid off from their jobs at companies at the port, he said.

GB Underfunded pensions

http://www.glennbeck.com/content/articles/article/198/36585/#

GB TARP cost more

(2/19/10)

State governments are also doing it as well. You got 21 states now currently have underfunded pensions and entitlement programs. Look at this -- I want to show you this map. OK?

State with serious pension problems -- remember, these are union problems. Coal miners, just corruption. Home of ACORN.

Now, even if you are in one of the safe zones -- I mean, this looks like a safe zone to you, really? I mean, California, their annual retirement contributions in 10 years. Look at this -- in 10 years, in 2000, their pension benefits have gone from $320 million. In 2010 -- are you ready -- $7.3 billion.

The state is crumbling. I mean, they've gone, they're spending like crazy. This is like you going out and just maxing out everything, you're completely bankrupt. You've lost the house. You've lost the car. You've lost the family. But you still say, "Hey, I'm still paying for that boat!"

Are you kidding me? "No, it's rock solid!" I got news for you: you're going to lose the boat.

But it's not just the states. Oh, it's deeper than that. It's you and me really.

We have to understand there is no such thing as a free lunch. If it sounds too good to be true, it is too good to be true. Somewhere along the line, the last 70, 80 years, we let people convince us that there is a free lunch. We've also been convinced we're entitled to that free lunch.

Jefferson Debt Quote

http://books.google.com/books?id=2D0gAAAAIAAJ&pg=PA309&lpg=PA309&dq=thomas+jefferson+and+human+error&source=bl&ots=goD6KXFAou&sig=4P4Fz0rS9ZwywCUW52Xi9A7U0zQ&hl=en&ei=8mk0Tez8EoO0lQe__rn5Cw&sa=X&oi=book_result&ct=result&resnum=6&ved=0CCkQ6AEwBQ#v=snippet&q=debt&f=false

The maxim of buying nothing but what we have money in our pockets to pay for lays, of all others, the broadest foundation for happiness. (Thomas Jefferson, 1787)

China population below poverty line

https://www.cia.gov/library/publications/the-world-factbook/geos/ch.html
2.8%

note: 21.5 million rural population live below the official "absolute poverty" line (approximately $90 per year); an additional 35.5 million rural population live above that level but below the official "low income" line (approximately $125 per year) (2007)

China, U.K. Sign $4 Billion in Deals

The Wall Street Journal Online, 11 January 2011

LONDON-U.K. and Chinese companies signed deals valued at £2.6 billion ($4 billion) in the energy and automotive sectors Monday, the British government said.

The deals were announced after a bilateral meeting between China's Vice Premier Li Keqiang and British Deputy Prime Minister Nick Clegg on the second day of Mr. Li's visit to the U.K. aimed at fortifying the two nations' commercial ties.

Mr. Li, who is widely expected to succeed Wen Jiabao as China's premier next year, also held talks with Prime Minister David Cameron on Monday and is set to meet Prince Andrew, the Duke of York, and speak at a dinner with business leaders on Tuesday before concluding his nine-day tour of the European Union, China's largest export market.

The deals signed include an agreement between BP PLC and the China National Offshore Oil Corp., known as CNOOC, on deepwater exploration in the South China Sea.

PetroChina Co., China's largest listed oil firm in terms of capacity, agreed with Ineos Group Holdings PLC on the basic principles of a joint venture that will engage in crude-oil refining and trading using assets at Scotland's Grangemouth refinery and France's Lavera refinery. U.K.-based Jaguar Land Rover, a unit of India's Tata Motors Ltd., committed to sell 40,000 Jaguar and Land Rover vehicles, valued at more than £1 billion, in China in 2011.

Messrs. Li and Clegg discussed global issues on which the U.K. and China work closely together, such as international security and climate change, the U.K. government said.

[Sources: EIA, International Energy Statistics // http://www.eia.doe.gov/country/country_energy_data.cfm?fips=CH

  • China's oil consumption is 8.2 million barrels per day
  • US oil consumption is 18.7 million barrels per day
  • China Coal Consumption - Almost 3.5 billion short tons in 2009
  • U.S. Coal Consumption - Just over 1 billion short tons in 2009
  • China is the second largest oil consumer behind the United States
  • Coal supplied the vast majority (71 percent) of China's total energy consumption
  • Oil is the second-largest source, accounting for 19 percent of the country's total energy consumption

China claims supercomputer crown

http://www.bbc.co.uk/news/technology-11644252

  • The title has gone to China's Tianhe-1A supercomputer that is capable of carrying out more than 2.5 thousand trillion calculations a second.
  • China's Tianhe-1A (Milky Way) has taken over the top spot from America's XT5 Jaguar at the Oak Ridge National Laboratory (ORNL) in Tennessee that can carry out only 1.75 petaflops. One petaflop is the equivalent of 1,000 trillion calculations per second.

.

  • He added: "I would say it's 47% faster than the Oak Ridge National Laboratory's machine, 1.7 Pflops (ORNL system) to 2.5 Pflops (Chinese system)."

NASA's Hansen prefers rule by decree to fight 'global warming'

http://www.washingtontimes.com/news/2011/jan/17/china-style-dictatorship-of-climatologists/

  • NASA laboratory head James Hansen's anti-democracy rants were published while he was on a November junket in China, but they didn't get much attention until recently. On Jan. 12, the hyperprolific blogger Marc Morano put them on his Climate Depot site, and within hours, the post went viral. In a former life, Mr. Morano was chief global-warming researcher for Sen. James M. Inhofe, Oklahoma Republican.
  • According to Mr. Hansen, compared to China, we are "the barbarians" with a "fossil-money- 'democracy' that now rules the roost," making it impossible to legislate effectively on climate change. Unlike us, the Chinese are enlightened, unfettered by pesky elections. Here's what he blogged on Nov. 24:
  • "I have the impression that Chinese leadership takes a long view, perhaps because of the long history of their culture, in contrast to the West with its short election cycles. At the same time, China has the capacity to implement policy decisions rapidly. The leaders seem to seek the best technical information and do not brand as a hoax that which is inconvenient."

China faces wave of strikes after Foxconn pay rise

http://www.telegraph.co.uk/finance/china-business/7818406/China-faces-wave-of-strikes-after-Foxconn-pay-rise.html

On Wednesday, Taiwanese media reported that 2,000 workers at a Taiwanese-owned machinery firm in the city of Kunshan near Shanghai took to the streets demanding better pay and conditions, sparking clashes with police in which 50 were injured.

Analysts cautioned against over-reacting to fears that the new pay demands and awards would unduly hit foreign companies in China, pointing out that low wage increases in recent years had been comfortably offset by productivity gains.

Power Grows for Striking Chinese Workers

http://www.nytimes.com/2010/06/09/business/global/09labor.html

Foxconn said Sunday that it planned to double by October the salaries of many of its 800,000 workers in China to 2,000 renminbi, or nearly $300, a month. The announcement of a big raise by one of the country’s biggest exporters seems likely to put pressure on other companies to follow suit, analysts say.

Life Span: Cottonwood is not a very long-lived tree. As with their close relative, willow, cottonwoods usually live about

70 years. A 120 year old cottonwood is a very old tree.

http://www3.northern.edu/natsource/TREESA1/Easter1.htm <http://www3.northern.edu/natsource/TREESA1/Easter1.htm>

Significance

Wood of the cottonwood is light. It was important as a construction material for the American Indians and European settlers.

Cottonwood, because of its abundance, was used to build barns and houses. Occasionally large cottonwoods, 4 to 6 feet (123

to 183 cm) in diameter, were cut down and burned out to form a crude canoe. Today cottonwood is used for pulp and

sometimes lightweight furniture. Cottonwood is also used as a windbreak species although it is not highly recommended due

to its short life expectancy. Two common windbreak cottonwoods used today are Siouxland (P. deltoides 'Siouxland') and

Northwest (x P. 'Northwest'). Siouxland is a cottonless male cultivar developed in South Dakota. It is losing popularity due

to susceptibility to several diseases. Northwest is a hybrid of P. deltoides and balsam poplar (P. balsamifera ). It is fast

growing and has a longer life span.

Info on roots

http://aces.nmsu.edu/ces/yard/2008/091108.html <http://aces.nmsu.edu/ces/yard/2008/091108.html>

The cottonwood tree is one that is genetically programmed to produce shallow roots because it grows naturally in flood plains. In a flood plain, the area that dries first after a flood is that area nearest the surface. Since tree roots require oxygen, the area that dries first is the area that is best for tree roots. Hence, the cottonwood is programmed to produce shallow roots.

In a shocking but underreported conversation ahead of the G7 Speakers' meeting in London last week, Democratic House Speaker Nancy Pelosi admitted that the administration knows China is committing "genocide" against the Uyghurs in the Xinjiang region, but thinks working with the regime on climate change is more important.

On the radio program, an outraged Glenn Beck dissected Pelosi's speech and broke down how — along with the Biden administration's abandonment of Americans in Afghanistan, and the Democrat decision to follow measures of medical "equity" — the far left is revealing how little they really care about human life.

Glenn played a video clip of Pelosi making the following statement:

We've always felt connected to China, but with their military aggression in the South China Sea, with their continuation of genocide with the Uyghurs in Xinjiang province there, with their violation of the cultural, linguistic, religious priority of Tibet, with their suppression of democracy in Hong Kong and other parts of China, as well – they're just getting worse in terms of suppression, and freedom of speech. So, human rights, security, economically [sic].

Having said all of that ... we have to work together on climate. Climate is an overriding issue and China is the leading emitter in the world, the U.S. too and developed world too, but we must work together.

"We have Nancy Pelosi admitting the United States of America knows that they're not only committing [genocide], they're continuing to commit it. Which means, we've known for a while," Glenn noted. "And what does she say? She goes on to say, yes, they're committing genocide against the Uyghurs, but having said that, I'm quoting, 'the overriding issue,' is working together on climate change.

"Would we have worked with Hitler on climate change? Would we have worked with Hitler on developing the bomb? Would we have worked with Hitler on developing the Autobahn? Would we have worked with Hitler on his socialized medicine? Would we have worked with Hitler on any of his national, socialist ideas?" he asked.

"The answer is no. No. When you're committing genocide, no! She said 'we have to work together on climate,' because climate is the 'overriding issue.' The overriding issue? There is no way to describe this mindset. That, yes, they are killing an entire group of people because of their ethnicity or religion. They are systematically rounding them up, using them for slave labor, and killing them, using their organs and selling them on the open market. They are nothing more than cattle. For us to recognize it and do nothing about it is bad enough. But to say, 'we recognize it, but we have bigger things to talk to them about,' is a horror show."

Glenn went on to urge Americans to "stand up together in love, peace, and harmony," or risk watching our nation become the worst plague on human life yet.

Watch the video clip below to hear more from Glenn:


Want more from Glenn Beck?

To enjoy more of Glenn's masterful storytelling, thought-provoking analysis and uncanny ability to make sense of the chaos, subscribe to BlazeTV — the largest multi-platform network of voices who love America, defend the Constitution, and live the American dream.

The fall of Lehman Brothers in 2008 marked the largest bankruptcy filing in U.S. history and economic collapse was felt throughout the world. But now China's own version of Lehman Brothers, Evergrande, is teetering closer and closer to that edge, too. On the radio program Thursday, Glenn Beck gave the latest update and predicted how it will affect Asian markets and what it could mean for America's economy.

Glenn explained why he believes a major collapse that is happening now in China will have a cascading effect into a "controlled collapse," a managed decline that will dramatically change America's economy and the way we all live.

"You will not recognize your lifestyle. Hear me," Glenn warned. "And that's not a right-left thing. That's a right-wrong thing. We're on the wrong track. I'm telling you now, there's new information and you are not going to recognize the American lifestyle. ... It could happen tomorrow. It could happen in five years from now, but it will happen. We are headed for a very different country. One where you don't have the rights that you have. And you certainly don't have the economic privileges that Americans are used to."

"The same thing that happened in 2008 is now happening in China," Glenn continued. "This time, it's going to take everything down. When it collapses, it will take everything down."

Watch the video below to hear Glenn break down the details:

Want more from Glenn Beck?

To enjoy more of Glenn's masterful storytelling, thought-provoking analysis and uncanny ability to make sense of the chaos, subscribe to BlazeTV — the largest multi-platform network of voices who love America, defend the Constitution and live the American dream.

Justin Haskins, editorial director of the Heartland Institute, joined Glenn Beck on the radio program to expose a shocking conversation between two Great Reset proponents — Klaus Schwab, chairman of the World Economic Forum, and Christine Lagarde, president of the European Central Bank (Europe's equivalent to the Fed).

The way Schwab and Lagarde discuss the role central banks should play in establishing societal norms, determining your way of life, and defending against potential crisis is proof that the Great Reset is upon us, Justin explained. And the scariest part is that they're not even trying to hide it. The entire, unbelievable conversation has been published on the WEF website, which you can read here.

Glenn read an excerpt from the conversation:

Christine Lagarde: At the ECB, we have now wrapped up and concluded our strategy review, which was the first one in 17 years. And I was blessed to have an entire Governing Council unanimously agree that the fight against climate change should be one of the considerations that we take when we determine monetary policy. So at least the European Central Bank is of the view that climate change is an important component in order to decide on monetary policy. ...

Can we arrive at that trade-off between fighting climate change, preserving biodiversity and yet securing enough growth to respond to legitimate demands of the population? And my first answer, Klaus, to be firm, is that to have a way of life, we need life. And in the medium term, we do have major threats on the horizon that could cause the death of hundreds of thousands of people. So we have to think life, first. We have to think way of life, second. ...

So we have to think life, first. We have to think way of life, second. How can we come together to make sure that we secure the first priority, which is life, and also protect the way of life that people have? And make sure that the cost of it is not so high for some people, that they just cannot tolerate it. I think that the trade-off that we reach will probably require some redistribution, because it is clear that the most exposed people, the less privileged people are those that are going to need some help.

"Do you understand, America, what that means?" Glenn exclaimed. "You have elites, that you never elected, that are having these meetings ... deciding what is a legitimate need for you. And telling you that your needs are going to go away in your lifetime. You may not see a time where you get wants again. Just your needs are going to be addressed. Am I reading this wrong?"

"This is absolutely what is being said here," Justin agreed. "She's very clear that we need to make sure that way of life is second to life. We have to save all these people, hundreds of thousands of people are going to die from this supposedly existential threat of climate change. And their wants, and their desires, and their quality of living, all of that has to come second."

"This is a central bank saying this. This is not an elected official, who is accountable directly to the people. This is a central bank saying, we're going to print money. We're going to use monetary policy, to impose these ideas, to rework society in order to accomplish our goals," Justin added, addressing Lagarde's call for "some redistribution."

Will Great Reset elites — not elected by the U.S. — soon be dictating to the rest of the world? Watch the video clip below to hear Glenn and Justin break it down:

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First comes the "crisis," then comes the expansion. The federal government is seizing on the January 6 Capitol riot to take carte blanche to do whatever it wants and weaponize the event to further empower the new overlords of our country — the intelligence community.

On Glenn TV Wednesday, Glenn Beck reveals what's happening with the U.S. Capitol Police and argues they've morphed into a new arm of the intelligence apparatus, boosted by a massive increase in funding and surveillance equipment and new offices OUTSIDE the Capitol building. The Biden administration has also hidden basic details regarding January 6. Why did officials refuse to release the name of the officer who killed Ashli Babbitt? Where are the 14,000-plus hours of CCTV footage? As any intelligence organization knows, it's best to operate outside the realms of oversight.

Glenn exposes the hidden hand of government that could be used to punish and destroy innocent Americans who are only guilty of holding the "wrong" political view.

Watch the full episode of "Glenn TV" below:

Want more from Glenn Beck?

To enjoy more of Glenn's masterful storytelling, thought-provoking analysis and uncanny ability to make sense of the chaos, subscribe to BlazeTV — the largest multi-platform network of voices who love America, defend the Constitution and live the American dream.