Economist: Unstoppable economic collapse is imminent

It's the end of the world as we know it...and Glenn finally isn't the only one saying it! Raoul Paul, who previously co-managed the GLG Global Macro Fund and is a Goldman Sachs alum, has a pretty bleak prediction for what is coming to Europe and the rest of the world. What does he think is coming? The worst economic shock the world has ever seen and, even worse, there's nothing we can do to stop it!

See the Pal's presentation HERE

"The world has no engine of growth with most of the G-20 countries approaching stall speed at the same time. Now, what is that? G-20, that's the 20 biggest countries in the world. Approaching stall speed. We have no engine of growth. Ask yourself this question: What is the engine of growth in the United States? Currently it is being set up that the engine of growth is the stimulus package, is the United States government. Is that real growth? I contend - and you know the answer - no," Glenn explained.

"The western world is about to enter a second recession in an ongoing depression. For the first time since the 1930's, we're entering a recession. Before industrial production, durable goods orders, employment, and private sector GDP have made back their previous highs. Hear that again. For the first time since the 1930's before we've made if back up on our feet. Usually we have a recession, it starts to grow again, and then we come back down. This is -- this is a new trend."

"Fact: This will to be the lowest cyclical peak in GDP growth in G-7 history. These are the weakest ever foundations on which to enter a recession."

"The problem is down to one thing: Debt."

"This is significant. The 10 largest debtor nations on earth have total debts of over 300% of world GDP. History tells us that when sovereign defaults occur, what does that mean? Sovereign defaults? Sovereign default, if a sovereign default occurs, that means Greece goes out of business, Spain goes out of business, Portugal goes out of business. The Euro is a bubble. It will crash," Glenn said.

"History tells us when sovereign defaults occur, they come in a series of defaults. We need to understand history in order to grasp the present. The domino effect. In history when you have a default, one falls into the other and the other and the other. So, he says, what is coming? EU sovereign debt defaults. UK sovereign default. Japan sovereign default. South Korea, sovereign default. China, sovereign default."

"So, he says all of these will default and the biggest banking crisis in world history. Then he's got a few of the charts saying the end of finance, the end of Europe, the end of world trade. Then he has a picture of a hurricane and the eye of the hurricane. He says, We are here. We don't know exactly what is to come, but we can all join the very few dots from where we are now to the collapse of the first major bank, with very limited room for government bailouts.Why is that? Do you remember when we spoke two -- four years ago now, maybe almost close to five, we said that there would come a time that these bailouts wouldn't work, that they would throw money at the system, and then I said, When they do this and it doesn't change any of the factors, they have to immediately shut the faucets off and go the other way. Otherwise, they'll continue to print too much money, they'll digitize too much money. They'll flood the market with too much money and the engine will stall because you flooded it or you will have a rocket ship on your hands and you will have hyperinflation and you'll have out of control interest rates eventually. With very limited room for government bailouts, meaning we've got nothing less -- nothing left now. There's no bullets in the gun except meaningless printed. We can easily join the next dots from the first bank closure to the collapse of the whole European banking system and then to bankruptcy of the governments themselves. There are almost no breaks in the system to stop this and almost no one realizes the seriousness of this situation."

"The problem is not government debt, per se. Listen carefully. The real problem is The 70 trillion in G-10 debt, the top 10 governments around the world, The 70 trillion is the collateral for $700 trillion in derivatives. That number equates to 1200% of global GDP and rests on very, very weak foundations."

"Imagine the UK defaulting. What do you think would happen to Japan and China? Would they not be next? And do you think that the U.S. would survive unscathed? This is the end of the fractional reserve banking system and of fiat money. It is the big reset. This is what we've been talking about for quite some time. The big reset. This is what George Soros has wanted, the big reset."

"When the system has to be rebooted, who are the players that are designing that? This is why when people say to you, George Soros, why would anybody want this to happen? Because if you know the reset is coming, anyway, if you know it's unsustainable, then you want to be the one to design what the future looks like."

Glenn continued to read, "From a timing perspective, I think 2012 and 2013 will usher in the end. You have to understand that the global banking collapse and massive defaults would bring about the biggest economic shock the world has ever seen. There would be no trade finance, no shipping finance, no finance for farmers, no leasing, no bond market, no nothing. The markets are, frankly, at a terrifying point of realizing that there is nothing they can do including quantitative easing to prevent this collapse. The next phase, as Spain and Italy go, will be to see nationalization of banks -- the nationalization of banks and the assumption of bank debts on government balance sheets. This is what we talked to you about on Friday. We have Tim knee Geithner coming out and saying, The governments have to take this debt on. Then expect to be shut out of financial markets. Bonds will be stuck at 1% in the U.S., Germany, and UK, and Japan for this phase. The whole bond market will be dead. That means nobody wants to invest in companies. Short selling on bonds will be banned. Short selling stocks will be banned. CBS, banned. Short futures, banned. Put options, banned. All that will be left will be the dollar and gold. As defaults in governments and banks come to fruition, we risk a closure of the stock market entirely and a closure of the banking system as occurred in Argentina in 2001, Russia in 1998, and Brazil in 1999. We have around six months of trading in western markets to protect ourselves or make enough money to offset future losses. Spend your time looking at the risks of custody safekeeping, counterparty, et cetera. Assume that no one and nothing is safe. After that put your tin helmet on and hide until the new system emerges. I wish I could see another option with an equally high probability, but I can't find one. All we can do is hope that I'm wrong, but either way, a new system will emerge and it will open up a whole new set of opportunities, but we are going back 40 years in time and 1500 to 3000 years in trading."

"This, again, from not a schlub. This again coming on the heels of what George Soros said this weekend. George Soros said that he felt the EU had three months. They're saying the same thing."

"Now, the question is: What do you do about it? What does this all mean? That's what this whole week is about on the Glenn Beck Program and GBTV. Four steps. And I want you to seriously consider them with your family. I want you to seriously consider actually getting involved more than you already are," Glenn said. "I promise you by the end of the week that you will see that there is a way out and all you have to do is not panic. The first step is to commit, not to tune out because you can't handle it. You can, you will, and you'll lead the way out."

Biggest takeaways from Trump's HISTORIC election

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"Too big to rig" was the 2024 Trump strategy, and it was proven true on election day.

President Trump declared victory early in the morning on Wednesday, November 6, 2024, after securing the required 270 electoral college votes, marking an exciting end to a historic campaign. Since then, more electoral college votes have trickled in for Trump and he has secured 51 percent of the popular vote. There is no space for the Democrats to contest his election.

Trump's victory is just the beginning! Here are the top takeaways from election night:

Trump sweeps the swing states

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Seven swing states were poised to make or break the election: Pennsylvania, Wisconsin, Michigan, Georgia, North Carolina, Arizona, and Nevada. At the time of this article's publication, Trump had won Pennsylvania, Wisconsin, Georgia, Michigan, and North Carolina and was poised to win Arizona and Nevada in what could be a total sweep of the swing states. The "swing state sweep" is a stunning victory for Trump.

The GOP takes the Senate

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The presidential race wasn't the only important election yesterday. Approximately one-third of the Senate was up for re-election. At the time of this article's publication, Republicans had officially clinched a majority in the Senate, flipping three seats from the Democrats in Montana, Ohio, and West Virginia, giving the GOP 52 of the 100 Senate seats. In addition, Republicans are poised to win a seat in Pennsylvania and Nevada, which would further cement their lead.

Republicans lead in the House

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Seats in the House of Representatives were also up for grabs as Republicans fought to keep control of the House. The race is currently too close to call, but at the moment, the GOP is holding the lead with 201 seats — only 17 seats away from a majority. This means there is a real possibility that the White House, the House of Representatives, and the Senate could all be held by Republicans.

What Trump's victory means for America

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Donald Trump has won the 2024 presidential election!

This is a victory for the Republic, America has the chance to be great again! This is a reminder that you can make a difference and that your opinion and vote matter. Take a moment to celebrateit's been a long four years, and light is finally at the end of the tunnel.

But the work isn't done yet. We still have two months until the inauguration, and after that, it will be time for President Trump's real work to begin. It is going to take time and hard work to "Make America Great Again," and there will be opposition and setbacks along the way. Here are three things to keep in mind going into this new era of American politics:

1. Look to the future.

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Under the Biden administration, Donald Trump, and conservatives in general, have faced censorship, lawfare, and even imprisonment. It can be tempting to jump on this opportunity to seek revenge against those who twisted the system against us. But that would only stoke the fire and further divide Americans. It is time to move forward, forgive, and remain humble. It is time to "Make America Great Again" for both Democrats and Republicans.

2. Get involved.

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While Trump's victory in the White House is a huge step forward, it's crucial to remember that change starts locally. Your state and local politicians play a huge role in your day-to-day lives. Get involved with your state government, run to serve on your local school board, and vote for your mayor. Many of these local offices go uncontested, and the Left knows this and will exploit them as a way to push back against the Trump administration unless you stand up against them.

3. Have realistic expectations.

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One of the most exciting promises of Trump's campaign is his pledge to to shrink the federal government, shrink the administrative state, and reduce government spending. Trump will bring on Elon Musk to help trim the fat off of our massive bloated government, and he has even floated the idea of repealing the income tax and replacing it with tariffs. However, this is a massive undertaking and is bound to experience pushback from the Left. It's important to have realistic expectations that this won't be done overnight. We can help expedite the process by getting involved. Call your representative. Call your senator. Demand dramatic cuts from federal spending that go towards woke programs and funding federal agencies that don't have the American people's best interests in mind.

As Glenn said on radio today, another hero has fallen in the cause of life, liberty, and the pursuit of happiness: P'nut the Squirrel.

The internet blew up over the weekend after the beloved social media sensation with over half a million followers was euthanized by New York state authorities after being seized from his owner's home.

P'nut was rescued seven years ago by Mark Longo, a Connecticut resident, who witnessed the young squirrel's mother being struck by a car. Longo nursed the squirrel back to health, and the two were inseparable ever since. Their relationship blossomed into a social media sensation, amassing over half a million followers. Proceeds from P'nut's social media success helped support Longo's animal sanctuary, P'Nut's Freedom Farm.

All that would end on October 30, 2024. After receiving an anonymous call warning P'nut may be carrying rabies, officers from the New York State Department of Environmental Conservation (DEC) raided Longo's home in Pine City, New York, in a SWAT-style fashion, and seized Peanut, along with a raccoon named Fred. Tragically, both animals were euthanized to test for rabies after an officer was bitten during the raid.

Glenn showed Longo tearfully describing the event to TMZ during his radio show this morning:

Officers raided my house as if I was a drug dealer. I was sat outside my house for five hours. I had to get a police escort to my bathroom," shared Longo online. “I wasn't even allowed to feed my rescue horses breakfast or lunch. I was sit, sat there like a criminal after they interrogated my wife to check out her immigration status. Then proceeded to ask me if I had cameras in my house. Then proceeded to go through every cabinet, nook and cranny of my house for a squirrel and raccoon. They got a search warrant for departments, and a judge signed off on a search warrant for a squirrel in a raccoon. And then they took them and k*lled them.

P'nut's euthanization and the raid on Longo's home have sparked a public outcry against taxpayer-funded federal agencies, not only for allocating so much time, money, and resources to a minor case but also for their gross abuse of power. How does a federal agency think it's justified to raid a man's home, treat him like a criminal, take his pet, and euthanize it without giving the owner a chance to contest? Stu hit the nail on the head during Glenn's show today: "It is also one of the most egregious abuses of government power I can ever remember."

It didn't take long for the Left to make this a partisan issue. Washington Post author & MSNBC Commentator Jen Rubin posted on X, "The MAGA Squirrel deserved to die." The post has since been deleted, but screenshots won't let her get away with that comment easily.

How did this become a partisan issue? It's not even clear if Longo is a Trump supporter. Even if he were, what does that have to do with P'nut? Did Longo deserve to have his home raided simply because there's public backlash from right-leaning sources questioning the gross overreach of federal agencies? If the Left believes that questioning federal abuse of power justifies euthanizing a beloved internet sensation, perhaps their twisted partisanship will help push Trump over the finish line tomorrow.

Glenn wants to hear what you think. Let us know in the poll below:

Was the raid of Longo's home an abuse of federal power?

Was the DEC justified in euthanizing P'nut?

Should P'nut's death be a partisan issue?

Unlike Harris, Trump offers hope for the nation

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The election just a day away, and the contrast between Donald Trump's and Kamala Harris's campaigns is as stark as ever.

In the last few weeks, Trump has successfully demonstrated the incredible range of his campaign, from his McDonald's and garbage truck events to electric rallies like the recent one held at Madison Square Garden to impressive back-to-back interviews of both Trump and Vance on Joe Rogannot to mention the broad spectrum of people in his corner, such as Elon Musk, RFK Jr., Tulsi Gabbard, and many more who bring top-class expertise to his campaign. For those on the "Trump train," it's hard not to feel hopeful for the future, something America has been dearly lacking the past four years.

On the other hand, Harris's campaign is built on hate. In her few interviews, she has offered little to no policy vision. She hasn't proposed anything unique to change our nation's current tide. Her campaign is simply based on hate against Trump, and we can expect nothing more than the continuation of the status quo.

Trump's Positivity

Donald Trump's campaign is defined by positivity and hope. The iconic slogan "Make America Great Again" promises a better tomorrow, and Trump brings the vision, expertise, and drive to make it possible. Despite being nearly twenty years Kamala Harris's senior, Trump seems to have infinitely more energy than she does. For the past four years, Trump has been constantly on the road, doing interviews, rallies, and political stunts while Harris has been noticeably absent for much of her campaign. Trump offers constructive solutions to the problems our country faces and promises to prioritize the American people. His campaign projects infectious positivity and hope in our nation's future. All reports from Trump's rallies indicate that the attendees are freedom-loving Americans, who are full of life and optimism. Even Elon Musk was seized by the excitement of the Trump campaign, literally jumping with joy when Trump invited him up on stage during his return to Butler, Pennsylvania.

Harris's Negativity

In stark contrast, Kamala Harris's campaign has been built on nothing but hatred towards Trump. As illustrated in the social experiment above, there's a big difference in how Harris supporters treat Trump supporters and vice versa. If you watch any of her interviews, Harris's word-salad answers inevitably shift to blaming Trump for the policy failures of her administration with Joe Biden. Her entire campaign hinges on the media successfully villainizing Trump. She is simply betting that people are going to vote for her simply because she isn't Trump. Though Trump has survived at least two assassination attempts, that hasn't stopped Harris from comparing the former president to Hitler. This anger and hate has permitted Harris's supporters, who, despite their rhetoric of "tolerance," are marked by their extreme intolerance for anyone who doesn't tow the party line.