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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Glenn Beck has been warning since last summer that you would not recognize your country in a year. Well, it's not even summer yet, and he says he already doesn't recognize the country.

Do you recognize an America in which people are making more money off government unemployment benefits than they can make by working, inflation is ramping up, housing, supply and labor shortages are widespread, and the current administration gives cybercriminals from Russia a free pass after the biggest cyberattack on our nation's infrastructure to date?

On the radio program this week, Glenn pointed out that while businesses all over the nation are downsizing, one brand store is actually booming — and it says a lot about the state of the economy and what it means for our country's future.

Watch the video clip below to hear more from Glenn:

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The largest American gas pipeline shut down on Friday due to what experts told the media was the "most dramatic cyberattack on U.S. soil to date." Investigators are looking at a group believed to be based in Russia known as "DarkSide."

It's time our leaders in the White House take national security seriously because this isn't the first time enemies of the U.S. — namely Russia and China — have used the cyber world to attack our nation and weaken our infrastructure, Glenn Beck argued on the radio program. Between Russia, China, and Iran — which President Joe Biden is now trying to make another nuclear deal with — it looks like the "Axis powers" of a "digital World War III" are lining up

"The journalists seem to care about the price of gasoline for the first time. Is it because they actually care? Or is it because they're trying not to focus on the fact that this was an attack most likely from Russia? And it isn't the first cyberattack from Russia of the year ... maybe we should be paying attention, to Vladimir Putin," Glenn began.

"And by the way, the pipeline going down, that's not the only [cyberattack] happening now," he added later. "Thirty thousand U.S. victims, small businesses and local governments, were hacked by cyber espionage units backed by the Chinese government in January of this year."

"There is an 'Axis power.' It is Russia and China. And, by the way, who is also aligned with Russia and China? Iran. Wow, this is weird," Glenn surmised. "But don't worry about that. Just leave your dog tags on another table. Let's not talk about China. Let's not talk about who actually crashed the jugular of our oil pipelines. I don't want war. But I got news for you ... this Biden administration is doing the job for our enemies."

Watch the video below to hear more from Glenn:


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Canadian clinical psychologist, author, and cultural firebrand Jordan Peterson is no stranger to cancel culture. Ever since he was thrust into the culture war, he has faced one controversy after another, stirred up by the woke elites who hate him with a passion. But although they have tried to make him pay for speaking out so fearlessly against their message, he refuses to back down and he believes you should, too. He joined "The Glenn Beck Podcast" this week to explain why.

"There is a growth of the reluctant hero in all stories ... so many people think that they don't have what it takes, that they're not the hero," Glenn said to Peterson. "How do you get people to recognize and then have the courage to stand? You've taken a beating ... why is it worth it and how do you get there?"

"I think it's worth it because I believe the alternative is worse ... to stay silent when you have something to say," Peterson replied. "You don't know what it is within you that requires your voice, right, because you feel like 'I have something to say.' Where does that come from exactly, that feeling that you have something to say?

"Maybe you're disgruntled at work and you're choking on your own bile because the situation is not just in your estimation," he continued. "You're dying to say something, but you won't. Well, you'll die if you don't say it. Maybe it's a death by a thousand cuts. I don't like deferred punishment. I'd rather take it now and keep the future clean, which is why I encourage people to have the fights now, not to hide things in the fog for later. They grow and metastasize. It's better to confront what you need to confront when it's small and you have some possibility of victory."

Watch the video clip below to catch more of the conversation, or find the full podcast with Jordan Peterson here:

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Top officials at the Federal Reserve are doing what they can to sugar coat what's ahead for our economy, telling Americans we may hit a "transitory" period of inflation that will settle by 2022. But Bank of America is saying something different. The bank's latest earnings call commentary warned "at the very least" transitory hyperinflation is ahead.

Watch the video clip below to hear Glenn Beck explain what this means for prices and for our economy.

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.