Introducing the latest bubble about to burst: The Money Bubble

Glenn has been warning for some time that our current system is unsustainable and simply cannot last. Today Glenn saw a chart that should strike fear into every American citizen. It shows the latest bubble that appears to be approaching the moment where it will burst -- the money bubble.

On Sunday, USA Today published a article by John Maxfield from The Motley Fool, featuring a terrifying chart showing the internet bubble, the housing bubble, and an unnamed bubble that Maxfield said was being called a stock market bubble.

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Now, Maxfield's article doesn't say there is a stock market bubble happening in the United States. He explains, "the fact that the Fed's monetary policies have caused stock prices to soar, doesn't mean there's a bubble."  He does say, however, that they will most likely deflate as part of an overall correction.

Now, why does Glenn think the above chart is so important?

"I'm not sure if the stock market bubble and the money bubble will be exactly the same, but I think they are. It's being propped up by bogus money. You are borrowing money from the Fed at zero interest rates, and that money is worthless. It's not backed up by anything. And when we really do hit the money bubble, we're out. We're out."

"I wanted to show this to you, because for those of you listening to me for a long period of time, you know I'm wrong on timing. I'm always wrong on timing, but I'm not wrong usually in direction," Glenn said.

Later in the show, Glenn pulled out the transcript from March 2008 when he was on Headline News where he described how "the money bubble" would come about and collapse.

"If you see what was in USA Today, you will see that they are now talking about the money bubble. We built a bigger bubble than that housing bubble in 2008. Remember when we said if we don't fix this, this will get much, much worse? And when it gets much worse, when it finally pops, what do we do as a people?" Glenn asked.

Way back in 2008, Glenn warned that the policy of the Federal Reserve could result in a "money bubble". The transcript from that segment is below via CNN.com:

BECK: Welcome to the real story. I want you to look at your newspaper today and you will see all kinds of headlines in there trumpeting the great news that home sales were unexpectedly higher in February. Hey, that`s great, until you start looking under the hood of those headlines, you`ll find a very different story. Yes, sales were up slightly in February, but they were down nearly 24% from last year. And prices, which are now just a little more important are now down 11% from last year, biggest drop in the history of the S & P index. I know, details, details, shut up guy on TV.

The Dow now was up another 180 points yesterday, nearly 8% in the last nine trading days alone. I mean, that`s great. Everybody`s happy, what recession? If I may introduce you, one more time, I`m sorry to do this to Mr. Gloomy Pants. The real story is that we are now witnessing the birth of our next bubble. Just like communists, financial bubbles don`t ever go away, they just change their look.

The internet bubble shaped, shifted into the housing bubble and then the housing bubble has now shifted into something, I`m officially declaring, the nanny state money bubble. For the last few years, America has been, if I may, on a Las Vegas binge. Wall Street would be, were like out with hookers every night, Main Street doing blow and eating caviar off of somebody`s belly and then the bill claim and we just handed over our credit card. You take American Express? Then the party ended and the bills started to come in. And you know, we didn`t go home because the bill collectors were waiting for us at the front door. We just stood there in the bar and now we`re holding our hands out.

You know, looking, hey, Paris Hilton, she by the way in this analogy is playing the federal government, Paris Hilton, you`ll cover us right? Well, for now, Paris Hilton is happy to do that. She is cutting rates. She is bailing out company. She is printing out money in the basement, anything to make us all forget that the open bar is now over. But sooner or later, we`re all going to realize, wait a minute, Paris Hilton is not only unemployed, but her credit is actually worse than ours is. She doesn`t have any cash and more importantly, she has no ability to earn any cash. She`s been paying our tab by borrowing money, in fact, Paris Hilton, I believe, is the perfect analogy for this economy, neither have any real substance and both look far better in night vision, I`m just saying.

Bruce Bartlett this is former U.S. treasury official. Bruce, you`re kind of regretting coming on this program after I just equated the economy to Paris Hilton.

BRUCE BARTLETT, FORMER U.S. TREASURY OFFICIAL: Wow.

BECK: The federal government, aren`t you? You can be honest. That`s OK.

Bruce, tell me, the Fed is printing money, dumping money, the government is. Everybody is doing this. The stimulus package. They`re now looking for more, they`re bailing out companies and now they want to bail out borrowers. How do you -- this is bogus. What`s happening here is bogus money. There`s no real creation of anything here except debt.

BARTLETT: Look, the Federal Reserve, basically, is responsible for all of these bubbles and credit cycles, whatever you want to call them because it always overdoes things. You know, when the economy is hurting, it shovels money out any way it possibly can, and then they just keep shoveling more and more because they`re never sure that they`ve done enough because there`s always enormous political pressure to do something. And then eventually, you get inflation, they start to tighten. They always tighten a little too much. And so you`ve always got this boom and bust cycle that basically, I think, comes back to the Federal Reserves` money creation policy.

BECK: Here`s the problem. It seems to me that we are always popping a bubble. And in retrospect, you always go back and go, yes, $900 a share for pets.com. That wasn`t such a smart idea. It all makes sense after you get past it. How is it that nobody is seeing that the Fed right now is dumping money or shoveling money, as you say, but they`re not paying attention to inflation at all. What they`re doing is going to cause more inflation and then they got a really Sinbad belt tight, you know, tighten the belt on us to the point to where it`s going to hurt the other direction.

BARTLETT: Well, the problem is what the Fed does to the economy always takes -- there`s always a lagged effect. What the Fed is doing today will ultimately impact on the economy two years from now. But by then, people will have forgotten that that was the root cause. By then, they`ll talk themselves into believing it`s something else all together. Remember, Alan Greenspan gave his famous irrational exuberance speech about the tech bubble in 1996, but it wasn`t until 2000 that the bubble finally burst.

And in the meantime, people talked themselves into believing it wasn`t really a bubble that it was all real.

BECK: I get it.

BARTLETT: And the same thing in the housing sector.

BECK: I have to tell you, it`s like we`re taking political rufies all the time but we just what? I don`t remember that at all. Bruce, thanks a lot.

 

It seems the Left wants a civil war and some on the Right want a national divorce. The country is split right now unlike anything Glenn Beck has ever witnessed. There are two sides: Those who want to fundamentally change this country and those who believe in KEEPING the experiment of liberty that the Founding Founders intended.

The ideological gap seems impossible to cross, but Glenn explains why he won't secede. David Reaboi, Claremont Institute senior fellow and author of "National Divorce Is Expensive, but It's Worth Every Penny," tells Glenn why a national breakup is not an impossibility just because it will be difficult.

What can we do to fight back … peacefully? How can the states that still believe in the Constitution create pockets of freedom in the shadow of tyranny? On his Wednesday night special this week, Glenn answers that and provides a road map to preserving what the Left is trying to destroy.

Finally, James Simpson, author of "Who Was Karl Marx? The Men, the Motives and the Menace Behind Today's Rampaging American Left," provides solutions on the issues the "red states" must unite around before Left and Right America officially call it quits.

Watch the full episode of "Glenn TV" below:

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An Afghan interpreter who helped save then-Sen. Joe Biden's life in 2008 was among those stranded in Afghanistan after Biden's troop withdrawal. He has now escaped the country with his family, but not with President Biden's help.

Thanks to private organizations, including The Nazarene Fund, the interpreter and his family have now been rescued.

Watch the video clip below to hear Glenn Beck share the details:

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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.

A shocking new report by The Daily Wire reveals that the furious father whose arrest at a school board meeting likely sparked the call for the FBI to investigate anti-CRT parents like domestic terrorists was furious for good reasons: The Loudoun County School Board allegedly tried to cover up his daughter's rape.

Rep. Chris Stewart (R-Utah) joined Glenn Beck on the radio program Tuesday to discuss the incident and explain why he joined 60 lawmakers in a letter to Attorney General Merrick Garland demanding answers for why the FBI is targeting parents.

"We want to know ... what kind of coordination took place between the White House, activist groups and teachers unions, and the Department of Justice," Stewart told Glenn. "Because we have evidence that there was [coordination] and, in fact, that the White House are the ones who initiated this. They asked for these activist groups to write this inflammatory letter to the Department of Justice saying they were 'intimidated' and that they 'felt threatened', giving the Department of Justice Attorney General Garland, the excuse to say, 'Okay, well, we have to respond'."

Stewart went on to say he believes the federal government would only involve the FBI in such an issue if its purpose is to silence and intimidate parents concerned about the "poison" being taught to their kids in school. So, what can he and the other representatives who disagree with the Biden administration's overreach of power do to stop it?

Watch the video clip below to hear Stewart explain:

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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.

Taiwan's Foreign Minister Joseph Wu is now warning that his nation is preparing for war with China after Beijing flew a record number of warplanes over Taiwanese territory. Wu reached out to another country for help, but it wasn't the United States.

In a video, Wu urged Australia to help prepare for a possible invasion, but gave the U.S. no mention.

"The defense of Taiwan is in our own hands, and we are absolutely committed to that. And if China is going to launch a war against Taiwan, we will fight until the end. And that is our commitment. And, of course, during this period of time, we would like to exchange with other countries for security cooperation," Wu said on ABC News In-depth's China Tonight program. "We would like to engage in security or intelligence exchanges with other like-minded partners, Australia included, so that Taiwan is better prepared to deal with the war situation. And so far, our relations with Australia is very good. And that is what we appreciate it for."

On "The Glenn Beck Program," Glenn, Pat Gray, and Stu Burguiere discussed whether or not America would do anything during such a conflict — because it sure seems like President Joe Biden is more focused on working with China to fight climate change. Plus, why did China just cut off all cryptocurrency?

Watch the video clip below to catch the conversation:

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.