From GBTV: Two very different opinions on how to avoid economic collapse

On GBTV Monday night, Glenn spent some time focused on the credit crisis and where the United States economy is headed. And while they both agreed America was headed for economic trouble, they had very different opinions about what could turn things around and lead to future prosperity.

He interviewed two experts who both agreed America was headed for trouble, but they had very different opinions on what the solutions were.

First he interviewed Richard Duncan, author "The New Depression."

Earlier in the week, Duncan warned that the current financial crisis was bad it ""so severe that I don’t think our civilization could survive it."

Moneynews explains:

“In order to understand this crisis, it’s necessary to understand the role that credit has played in bringing it about,” he told CNBC.

“When we broke the link between money and gold, this removed all constraints on credit creation,” Duncan argued. “This explosion of credit created the world we live in, but it now seems that credit cannot expand any further because the private sector is incapable of repaying the debt it has already, and if credit begins to contract, there’s a very real danger that we will collapse into a new Great Depression.”

Duncan noted that policymakers believe that if they allow credit to contract, there will be a new depression.

“So they are going to do whatever it takes to keep credit expanding,” he added. “And that means more quantitative easing (QE), and when the Fed does QE3, everyone knows that stock prices are going to go higher," he said.

“If this credit bubble pops, the depression could be so severe that I don’t think our civilization could survive it,” Duncan noted.

On GBTV, Duncan told Glenn that economic collapse would likely lead to banks failing, lost savings, and a breakdown in global trade. Duncan also said that because the government would have no money, the military would have have to be called home which would weaken the United States as a global power. Crime would also skyrocket.

But what's the solution? Duncan said there were three ways forward. First would be to balance the budget today, but the result would be America spinning into depression. Second, we could continue on the path we are on now for another five years until reaching a crisis on the level of Greece. Duncan said this was better than option one as "it's better to die tomorrow than die today". The third option would be to continue borrowing but to invest heavily in renewable energy and new technology in order to lock in a future of prosperity.

You can watch the interview ON DEMAND on GBTV!

After Duncan's interview, Glenn brought on former Reagan economic advisor Art Laffer, who strongly disagreed with what he called Duncan's "big government solutions". While Laffer felt like America was in economic trouble, he said that a return to Reagan-era policies would help turn things around. He also said that Romney, who he thinks will win in 2012, would take America in the right direction and it will bring back American prosperity.

"The balance of what Romney will do along with a good Republic Congress will be spectacular and you will have a boom of incredible proportions," Laffer said. He added that the prosperity could be bigger than what Reagan and Clinton brought America.

Laffer said adopting Paul Ryan's plan would help balance the budget and bring the debt down over time and increase prosperity.

"It is fixable," he said. "In ten years you really will have incredible prosperity."

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On the radio program Monday, Glenn Beck, Pat Gray, and Stu Burguiere reacted to a recent Washington Post op-ed in which the author, Ron Charles, suggests that "as Confederate statues finally tumble across America, [and] television networks are marching through their catalogues looking to take down racially offensive content," perhaps the next items that should be up on the cancel-culture chopping block are "problematic books."

"Monuments celebrating racist traitors, which were erected to fabricate history and terrify black Americans, are not works of art that deserve our respect or preservation. Similarly, scenes of modern-day white comedians reenacting minstrel-show caricatures are not ironical interrogations of racism that we have to stomach any longer. But complex works of literature are large, they contain multitudes," Charles wrote.

He goes on to argue that "calibrating our Racism Detector to spot only a few obvious sins" is but an insidious source of self-satisfaction when compared to the process of critical debate on the values and intentions of history's literary legends.

"If cancel culture has a weakness, it's that it risks short-circuiting the process of critical engagement that leads to our enlightenment," Charles wrote. "Scanning videos for blackface or searching text files for the n-word is so much easier than contending with, say, the systemic tokenism of TV rom-coms or the unbearable whiteness of Jane Austen."

Could cancel culture really spiral all the way down to book burning? In the clip below, Glenn, Pat, and Stu agreed that this radical progressive movement is really about erasing America's history and overturning the foundation of our country. The fundamental transformation of America is happening now.

Watch the video below to catch more of the conversation:


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It's been a tough year, America. Our news media is inundating us with images of destruction, violence, and division in attempts not only to desecrate our nation, but to make us turn our backs on it. That's why now, more than ever, we need to take an up-close look at America's history to remember what it is we're fighting for and how to fight for it with practical action.

Join Glenn Beck, broadcasting from Standing Rock Ranch, as he takes us to Plymouth, Gettysburg, and Federal Hall on an important journey through America's remarkable history to inspire a brighter future. Glenn asks the hard questions of every American. Is this system worth saving? Is there a better way? Where do we go from here, and how do we answer those questions?

Featuring performances from the Millennial Choirs and Orchestras, David Osmond, a very special children's choir, and guests Bob Woodson, Tim Ballard, David Barton, Burgess Owens, Kathy Barnette, Anna Paulina Luna, and Tim Barton.

Watch the full special presentation 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.

"Restoring Hope" has been a labor of love for Glenn and his team and tonight is the night! "Restoring the Covenant" was supposed to take place in Boston, New York, Philadelphia, Gettysburg and Washington D.C. but thanks to COVID-19, that plan had to be scrapped. "Restoring Hope" is what was left after having to scrap nearly two years of planning. The Herald Journal in Idaho detailed what the event was supposed to be and what it turned into. Check out the article below to get all the details.

Glenn Beck discusses patriotic, religious program filmed at Idaho ranch

On July 2, commentator Glenn Beck and his partners will issue a challenge from Beck's corner of Franklin County to anyone who will listen: "Learn the truth, commit to the truth, then act on the truth."

Over the last few weeks, he has brought about 1,000 people to his ranch to record different portions of the program that accompanies the challenge. On June 19, about 400 members of the Millennial Choir and Orchestra met at West Side High School before boarding WSSD buses to travel to a still spring-green section of Beck's ranch to record their portion of the program.

Read the whole article HERE

The current riots and movement to erase America's history are exactly in line with the New York Times' "1619 Project," which argues that America was rotten at its beginning, and that slavery and systemic racism are the roots of everything from capitalism to our lack of universal health care.

On this week's Wednesday night special, Glenn Beck exposed the true intent of the "1619 Project" and its creator, who justifies remaking America into a Marxist society. This clever lie is disguised as history, and it has already infiltrated our schools.

"The '1619 Project' desperately wants to pass itself off as legitimate history, but it totally kneecaps itself by ignoring so much of the American story. There's no mention of any black Americans who succeeded in spite of slavery, due to the free market capitalist system. In the 1619 Project's effort to take down America, black success stories are not allowed. Because they don't fit with the narrative. The role of white Americans in abolishing slavery doesn't fit the narrative either," Glenn said.

"The agenda is not ultimately about history," he added. "It's just yet another vehicle in the fleet now driven by elites in America toward socialism."

Watch a preview of the full episode below:


Watch the full episode only on BlazeTV. Not a subscriber? Use promo code GLENN to get $10 off your BlazeTV subscription or start your 30-day free trial today.

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.