Is a Titanic event going to hit our economy?

May 14, 2015

WRITER

This morning on radio, Glenn talked to Matt Bevin about our country’s current economic state. Are we really heading towards a massive crisis? Hear Bevin discusses pension plans and his ideas for combating some of our current economic issues.

GLENN: All right. So Kentucky, I mean it, you blow it, we are -- our love for you and your stupid horse race. It's over. It's over. We come with lawn mowers and we cut all of your bluegrass.

JEFFY: What about the bourbon?

GLENN: The bourbon, I take. The bourbon, I take. They had their chance with Matt Bevin as a great senator. Instead, you decided to give America the turtle, Mitch McConnell. Okay. How is that working for us, Kentucky? We want to thank you deeply for Mitch McConnell. But now you get another bite at the Matt Bevin apple, as Bevin is currently running for governor in the state of Kentucky. The primary for the Republicans is coming up on Tuesday, May 19th. It looks like he is in first place. This is the first poll where he's now at first place. It's a three-way -- a three-way race. But it is close. And 20 percent still undecided. We wanted to give Kentucky another chance to hear from Matt Bevin who we really greatly respect. Matt Bevin, how are you, sir?

MATT: Glenn, I'm doing great. It's so good to be on with you. A lot of pressure you guys are putting on me here. A lot of pressure. I don't want to be responsible for being double dead.

GLENN: Well, I'm telling you. So here's the headline in the Washington Post last week. Team McConnell isn't about to just let Matt Bevin become governor.

MATT: Yes. Did you see the quote at the end of that article? Brilliant.

GLENN: No. I couldn't take it.

MATT: Honestly, I would encourage you to go back and read the nuggets of wisdom that dripped out of the mouth of a certain individual at the end of that article.

GLENN: What did he say?

MATT: I won't even paraphrase it. It was idiocy.

GLENN: Will you look it up? So tell me why -- make the pitch to the Kentuckians who might not know you on why you would be the right person for governor.

MATT: We need somebody who is not a politician. Somebody who does not arrive in Frankfort already half owned or fully owned by somebody. Someone who comes with a fresh sheet of paper. We need somebody who comes from the outside business world. Somebody who understands how the wealth of this nation is created.

I'm a guy who grew up below the poverty level. I paid my own way through school. I'm a military veteran. I'm a small business owner. Employ dozens and dozens of people. I'm pro-life. I'm pro Second Amendment. I'm conservative. I understand firsthand how wealth is created. I'm the only one in this state that has ever worked in the pension business that's running for governor. And we have a significant pension crisis here in Kentucky.

GLENN: We have a significant --

MATT: You know, some of -- which is why I truly think myself -- I also have by far the best running mate who will bring such a great perspective to Kentucky. We offer an extraordinary opportunity, I believe, for Kentucky to go in the right direction. A constructive direction. One where we will be a magnet to people around this country and not the opposite.

GLENN: She's the African woman -- African-American woman that we discussed last time you were on. Right?

MATT: Jenean Hampton. Amazing. Exactly right. She is incredible. Twenty years of high-level management experience in the Fortune 500 world. Manufacturing. Experience. In particular, an engineering degree. MBA. Military veteran. War veteran. You know, former Air Force officer. Completely self-made. Raised herself to a level of opportunity here in America. It is an example to many, growing up in inner city Detroit in the '50s and '60s. Just an incredible, incredible woman.

GLENN: So, Matt, we are looking at a time where you would be governor where the financial world this week has been more honest than I've ever seen them be. HSCB has come out and said, they believe a titanic event is coming. And they said that the economy no longer has any lifeboats. I mean, that was -- that's pretty significant language. England is now discussing literally making cash illegal. So when the crash comes, everything becomes digitized, and that way, they can control what people are spending. And there is no cash in the system. We're looking at a time when banks could be closed or you see just even -- just social issues like in Baltimore, where the streets could be on fire. What do you do as governor if you're facing something like Baltimore, no matter if it would be a run on the bank, God forbid, or God forbid, you know, a police officer that's been shot there in Kentucky. You know that the Al Sharptons of the world will take, you know, people from Kentucky look like the biggest racists in the world. What do what you do if you're facing that?

MATT: I'll tell you this. One thing I learned in the military is you lead by example. What is it that has always made America great? What is it that has made us exceptional among nations? What is it that makes people want to come here both legally and illegally more than any other nation on the face of this earth? It is the fact that we are a nation, above all, we're a nation of laws. And I will tell you what, if I'm the governor of this state who are involved in government in any way, shape, or form, that I would do everything within my power to ensure that we uphold what makes us great. And we would uphold and defend the law. And we would uphold and defend this state. We would not make room for people to destroy or any of the rest of that nonsense. We would absolutely enforce the rule of law. Because this is what makes us exceptional.

GLENN: Do you have an opinion or -- just leave it at that. Do you have an opinion on the militarization of our police forces?

MATT: I think it's ridiculous. Let me tell you what it is. It's an outgrowth on the war of drugs. Every time the federal government declares war on anything, we've spent hundreds of billions of dollars at a minimum and ended up with more on exactly what we were fighting. Look at the war of poverty. More poverty. Trillions of dollars having been spent. Look at the war on drugs. A militarized police force across this nation. I think it's inexcusable. It's unnecessary. We now have people moving around in SWAT teams that have become the exact opposite of the old cop on the beat in some measure. This isn't helping them. It's not helping the community. Look at the war on terror. How is that working for us? We need to get the federal government out of all of these various wars on things we want less of. Restore power to local communities and states. This is part of why I'm running for governor. We can do more in this state to be an example. To be a beacon for the rest of America about how a constitutionally limited government should operate and how it will thrive and be an example to states around us.

PAT: Matt, what is the deal with the McConnell team, with Mitch McConnell and his former adviser and the irrational hatred they seem to have for you. Is it just that you dared challenge him for the Senate seat and did really well? Is it --

MATT: Yeah. I just think -- it's ironic. I heard from people -- he seemed not to have gotten over the last race. I seem to be the only one unfortunately that has. It's too bad. You know, the adults in the room are who needs to step up at this time. Not only here in Kentucky. Not only here in America. As you noted a moment ago. Nationally. Whether it's in London. Whether it's the people that are running the HSCB. What have you. All these banks. The IMF now, people looking to challenge the US dollar as the world's reserve currency. Trust me, if they are successful, that is the beginning of the end. Certainly for our country. We've got to bring adults to the table, and they've got to man up and lead as men and women of conviction. The likes of which we have not seen for a long time in this world.

PAT: So what's the biggest issue for you in this race? And what is -- what is the driving reason you got into the race for governor of Kentucky?

MATT: The reason I got in, in short measure, is that I didn't see those that were in, who I know and who are good people and who are far better than the Democrat operative on the other side of the equation. Nonetheless, none of them would put forward a plan. None of them would be specific. None of them would talk about how they would create jobs. That is our biggest concern in this state. We are an economic trouble. We're one of which Forbes refers to as the death spiral state. This has to end. We have to get to the point --

GLENN: They're calling you the death spiral over Illinois?

MATT: There were five death spiral states. I believe we and Illinois were in that group. We have now surpassed Illinois as being --

GLENN: Holy cow.

MATT: We are at the bottom of Illinois.

GLENN: So what is your plan to take care of that?

MATT: We have to freeze the existing plan. We can't keep exacerbating this by adding people to a system that we know is already on the fast track to insolvency.

GLENN: I will tell you, I don't know how you're going to do that, Matt. When I was at Fox, we did an episode where I showed how many firefighters it takes to pay for the pensions of the firefighters. And there's just not enough. I mean, it is -- you want to talk about voodoo economics. It is voodoo economics times 1,000.

MATT: If you look at our -- we just had a 30-day session with our legislature. They brought forward more than 750 ideas in their respective committees. And none of them seriously addressed this issue. We have just ignored it and hoped it would fix itself. You're right, demographics have changed to the degree that even things I'm proposing are not enough. We need to freeze the existing plan. We have to require more current participants. We have to go to a 401(k) type plan and give people lump sum encouragement to take their money out if they're young enough and stop becoming a part of the problem. But all those things in their combinations still will only begin to stop the bleeding. To reseal the wound, we'll need jobs.

GLENN: That goes back to my civil unrest kind of thing. When I was at Fox, we talked about when those pensions -- when it becomes apparent that the states cannot pay for those pensions, which they were owed. Everybody -- everybody plays this game. And everybody knows they're just hoping to get theirs out before it collapses. But when that becomes apparent. There is no trust with anyone. The governor is going to be hated, if he's trying to take the pensions away. The -- the people who are -- you know, the ones paying for the pensions, the tax holders are going to be I had a by the public servants. The public servants aren't going to understand the people paying the taxes and vice-versa. How do you heal that rift besides coming and saying the truth, guys, I know. Everybody is pissed off. But it doesn't work. So we're going to have to forget the promise that we made and now come back to the table with a different kind of system.

MATT: This is when our generation is going to have to reach deep and find among our ranks those that are willing pledge their lives, fortunes, and sacred honor. Because it will take leadership. We have a nation and a world full of Neville Chamberlains, and we need them to step up. Because the world depends on this. Our future depends on this. And it will not be easy. There will be hatred. There will be people vilified. If it's any comfort to you, I've been well-prepared for the last two years in having scorn and enmity heaped upon my head. So I'm as callous on that front as perhaps anybody. I'm willing to offer myself forward as a public servant at this time, and the voters of Kentucky will decide on May 19th.

STU: Matt, what are the main separation points between you and the other candidates?

MATT: The biggest issues are that before I got in the race, they were all for keeping the Obamacare exchange here in Kentucky. Now everyone is against it because I put a plan against it. I'm really against it. I'm really against Common Core. Mark Twain once noted that, history may not repeat itself, but it sure does rhyme. And that's kind of what's been happening.

GLENN: So they're against it like Jeb Bush is against it.

MATT: Exactly. Suddenly I find they're against a lot of things that I'm against. And that's all right. At least they're rhyming in the right direction. But those are differences that I know where I stand on it. And I've been clear, and I've lead in writing on that front. I'm also the only one in this race that grew up below the poverty level. We have a lot of people in this state in a similar way. I'm able to address that with empathy, not just with sympathy. I'm the only one that has a chance to be the next governor of this state that is a military veteran. We have 340,000 military veterans in this state. That's a big differentiator. I'm the only one in this race that upon winning -- running against the other side. I'm not a lawyer. They're the other guys running on the G.O.P. side are not lawyers. But both the people on the Democrat side are lawyers. We don't need more lawyers in government. I have a lot of good friends that are lawyers. But we don't need more laws in America. We have to start to be smarter with respect to the way in which we govern. I'm also the only one in this race with pension experience. I started a firm here in Kentucky that now manages $5 billion in pension assets. I understand firsthand this business because I've spent most of my adult life in it. We have to address things. I'm as qualified as anybody in this race to actually step forward and do it. Will it be fun? Of course not. Will it be thankless? You bet? Will I be hated by people, Democrat and Republican alike? Yes, I will. But guess what, leadership requires people to step up. And I'm putting myself forward and offering that ability to people at this time.

GLENN: Matt Bevin, he's running for governor in Kentucky. The primary is next Tuesday.

PAT: Don't blow it, Kentucky.

GLENN: Matt, I will tell you, you are blessed to live in one of the best states in the Union. I've lived in Louisville, Kentucky. I just loved it. It's such a great state. It's not only because of the beauty and the heritage of that state. But the people are truly fine, fine people. And we are hoping that they do the right thing this time around.

PAT: And don't you wish there was a way you could help Matt Bevin if you wanted to? Don't you wish there was a place you could go?

MATT: Pat, you are a good man.

GLENN: You know, he doesn't do this for everybody. I thought he did. But he doesn't.

MATT: I'll tell you, I mean it sincerely, guys. I'm grateful for you. I appreciate your willingness to come alongside in this effort. I appreciate your help. We do need help. Five days. We need every dollar we can get to get ourselves up there. If you want people who respect the Constitution. Who respect America. Who are military veterans and businesspeople that are willing to fight for you and your children and grandchildren, regardless of what state you live in. If you want us to have 50 such governors and you want one of them to be in a state that could be a beacon for America, I would be grateful if you would go to mattbevin.com.

PAT: There it is.

MATT: Mattbevin.com.

PAT: Mattbevin.com.

MATT: It's the place to contribute. I would be grateful.

GLENN: Yeah, yeah. Whatever. If you win, if you win, we watched the Kentucky Derby, and my wife said, we have to go to Kentucky Derby next year. And I said, we'll never get tickets. If you win, we'll buy them. We just need to get to the front of the line -- that's the only reason why we're supporting you.

MATT: I can't make any promises at this point.

What is the Secret Service trying to hide about Trump's assassination attempt?

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This past weekend we were mere inches away from a radically different America than the one we have today. This was the first time a president had been wounded by a would-be assassin since 1981, and the horrific event has many people questioning the competency and motives of the supposedly elite agents trusted with the president's life.

The director of the Secret Service apparently knew about the assassin's rooftop before the shooting—and did nothing.

Kimberly Cheatle has come under intense scrutiny these last couple of weeks, as Secret Service director she is responsible for the president's well-being, along with all security operations onsite. In a recent interview with ABC, Cheatle admitted that she was aware of the building where the assassin made his mark on American history. She even said that she was mindful of the potential risk but decided against securing the site due to "safety concerns" with the slope of the roof. This statement has called her competence into question. Clearly, the rooftop wasn't that unsafe if the 20-year-old shooter managed to access it.

Glenn pointed out recently that Cheatle seems to be unqualified for the job. Her previous position was senior director in global security at America's second-favorite soda tycoon, PepsiCo. While guarding soda pop and potato chips sounds like an important job to some, it doesn't seem like a position that would qualify you to protect the life of America's most important and controversial people. Even considering her lack of appropriate experience, this seems like a major oversight that even a layperson would have seen. Can we really chalk this up to incompetence?

Former Secret Service Director Kimberly Cheatle KAMIL KRZACZYNSKI / Contributor | Getty Images

The Secret Service and DHS said they'd be transparent with the investigation...

Shortly after the attempted assassination, the Department of Homeland Security (DHS), which oversees the Secret Service, launched an investigation into the shooting and the security protocols in place at the rally. The DHS promised full transparency during the investigation, but House Republicans don't feel that they've been living up to that promise. Republican members of the House Oversight Committee are frustrated with Director Cheatle after she seemingly dodged a meeting scheduled for Tuesday. This has resulted in calls for Cheatle to step down from her position.

Two FBI agents investigate the assassin's rooftop Jeff Swensen / Stringer | Getty Images

Why is the Secret Service being so elusive? Are they just trying to cover their blunder? We seem to be left with two unsettling options: either the government is even more incompetent than we'd ever believed, or there is more going on here than they want us to know.

Cheatle steps down

Following a horrendous testimony to the House Oversight Committee Director Cheatle finally stepped down from her position ten days after the assassination attempt. Cheatle failed to give any meaningful answer to the barrage of questions she faced from the committee. These questions, coming from both Republicans and Democrats, were often regarding basic information that Cheatle should have had hours after the shooting, yet Cheatle struggled with each and every one. Glenn pointed out that Director Cheatle's resignation should not signal the end of the investigation, the American people deserve to know what happened.

What we DO and DON'T know about Thomas Matthew Crooks

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It has been over a week since 20-year-old Thomas Matthew Crooks narrowly failed to assassinate President Trump while the president gave a speech at a campaign rally in Butler, Pennslyvania. Despite the ongoing investigations, we still know very little about the would-be assassin, which has left many wondering if the agencies involved are limiting the information that Congress and the public are receiving.

As Glenn has pointed out, there are still major questions about the shooter that are unanswered, and the American people are left at the whim of unreliable federal agencies. Here is everything we know—and everything we don't know—about Thomas Matthew Crooks:

Who was he?

What we know:Thomas Crooks lived in Bethel Parks, Pennsylvania, approximately an hour south of Butler. Crooks went to high school in Bethel Parks, where he would graduate in 2022. Teachers and classmates described him as a loner and as nerdy, but generally nice, friendly, and intelligent. Crooks tried out for the school rifle team but was rejected due to his poor aim, and reports indicate that Crooks was often bullied for his nerdy demeanor and for wearing camo hunting gear to school.

After high school, Crooks began work at Bethel Park Skilled Nursing and Rehabilitation Center as a dietary aide. In fact, he was scheduled to work on the day of the rally but requested the day off. He passed a background check to work at the facility and was reportedly an unproblematic employee. Crooks was also a member of a local gun club where he practiced shooting the day before the rally.

It was recently revealed that sometime before his attempted assassination, Crooks posted the following message on Steam, a popular computer application used for playing video games: "July 13 will be my premiere, watch as it unfolds." Aside from this, Crooks posted no warning or manifesto regarding his attack, and little other relevant information is known about him.

What we don't know:It is unclear what Crook's political affiliations or views were, or if he was aligned with any extremist organizations. Crooks was a registered Republican, and his classmates recall him defending conservative ideas and viewpoints in class. On the other hand, the Federal Election Commission has revealed he donated to a progressive PAC on the day Biden was inaugurated. He also reportedly wore a COVID mask to school much longer than was required.

Clearly, we are missing the full picture. Why would a Republican attempt to assassinate the Republican presidential nominee? What is to gain? And why would he donate to a progressive organization as a conservative? This doesn't add up, and so far the federal agencies investigating the attack have yet to reveal anything more.

What were his goals?

What we know: Obviously we know he was trying to assassinate President Trump—and came very close to succeeding, but beyond that, Crooks' goals are unknown. He left no manifesto or any sort of written motive behind, or if he did, the authorities haven't published it yet. We have frustratingly little to go off of.

What we don't know: As stated before, we don't know anything about the movies behind Crooks' heinous actions. We are left with disjointed pieces that make it difficult to paint a cohesive picture of this man. There is also the matter that he left explosives, ammo, and a bulletproof vest in his car. Why? Did he assume he was going to make it back to his car? Or were those supplies meant for an accomplice that never showed up?

The shocking lack of information on Crooks' motives makes it seem likely that we are not being let on to the whole truth.

Did he work alone?

What we know: Reportedly, Crooks was the only gunman on the site, and as of now, no other suspects have been identified. The rifle used during the assassination attempt was purchased and registered by Crooks' father. However, it is unlikely that the father was involved as he reported both his son and rifle missing the night of the assassination attempt. Crooks' former classmates described him as a "loner," which seems to corroborate the narrative that he worked alone.

What we don't know: We know how Crooks acquired his rifle, but what about the rest of his equipment? He reportedly had nearly a hundred extra rounds of ammunition, a bulletproof vest, and several homemade bombs in his car. Could these have been meant for a co-conspirator who didn't show? Did Crooks acquire all of this equipment himself, or did he have help?

There's also the matter of the message Crooks left on the video game platform Steam that served as his only warning of the attack. Who was the message for? Are there people out there who were aware of the attack before it occurred? Why didn't they alert authorities?

We know authorities have access to Crooks' laptop and cellphone that probably contain the answers to these pertinent questions. Why haven't we heard any clarity from the authorities? It seems we are again at the mercy of the federal bureaucracy, which begs one more question: Will we ever know the whole truth?

Who will be Kamala Harris' VP pick?

JIM WATSON / Contributor, Chris duMond / Stringer, Justin Sullivan / Staff | Getty Images

Over the weekend, President Joe Biden officially dropped out of the 2024 presidential election and put forward his endorsement behind his Vice President Kamala Harris.

Glenn recently predicted that Biden would step down due to the mountain of pressure within his party to do so. But now that we are here we are faced with an all-new line of questions, like, who will be the candidate on the Democratic ticket? Who will be their pick for vice president?

As of now, the answer to the first question seems to be Kamala Harris, who received the support of the president and several prominent democrats. It's still too early to call for certain, and Glenn doesn't think it's likely, but assuming Kamala becomes the Democrat nominee, who will her VP pick be? There are endless possible options, but there are a 5 big names that could prove beneficial to Harris' campaign:

California Gov. Gavin Newsom

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Governor Newsom has spiked in popularity within his party since his taking office in 2019 due to his scathing criticisms of President Trump and other Republicans. Newsom has been a popular contender as a possible Biden replacement, and a future presidential bid seems likely.

His widespread recognition may be a boon to Kamala's ticket, but the California governor comes with a dark side. Newsom was famously nearly recalled as Governor in 2021, hanging on to his office by a narrow margin. He also faced criticism for his hypocrisy during the COVID lockdowns, attending large gatherings while the rest of his state was locked inside. There's also the issue that both Newsom and Kamala are from California, meaning that if they were to appear on the same ticket, that ticket would lack geographical balance and would potentially lead to a Constitutional issue that would force the duo to forfeit all 54 of the states' Electoral College votes.

Pennsylvania Gov. Josh Shapiro

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Another prominent Democrat Governor, Josh Shapiro has also been floated as a potential VP pick. Governor Shapiro has become a viable pick due to his well-received performance as Pennslyvania's Governor. The governor has good support within the swing state due to his handling of the I-95 bridge collapse, the train derailment in East Palestine, which had effects on his state, and the assassination attempt on the former president last week. Shapiro would bring much-needed support from the swing state if he was put on the ticket.

That being said, Shapiro has little time to build nationwide name recognition before the DNC in August and the November election. This would be Shapiro's debut on the national stage, and he would find himself in the most unforgiving situation possible.

Secretary of Transportation Pete Buttigieg

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Former mayor of South Bend, Indiana, and opponent of Biden during the 2020 Democratic primaries, "Mayor Pete's" name recognition might be what Kamala needs on her presidential ticket. Buttigieg rose to popularity during the 2020 election due to his youth and status as "openly gay." Buttigieg has served as the Secretary of Transportation during the Biden administration for the past four years and has formally endorsed Harris.

Nevertheless, Buttigieg has some dark spots on his resume. The East Palestine train derailment disaster has besmirched his reputation as Secretary of Transportation. And while his youth may work in his favor when compared to the other elderly members of our federal government, it also means Buttigieg lacks the experience and prestige that other politicians enjoy.

Michigan Gov. Gretchen Whitmer

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Yet another governor of a crucial swing state, Whitmer was elected in 2018, two years after President Trump was elected, helping secure the state for the Democrats. Whitmer is known for her strong opposition to Trump, both during his presidency and his reelection campaign. Whitmer serves as co-chair for the Biden-Harris campaign and as vice chairperson of the DNC, which gives her influence over the Democratic party, something that would come in handy as a Vice President. Gov. Whitmer also established the Fight Like Hell PAC, which is dedicated to helping Democrats get elected and to stopping Trump by any means.

On the other hand, in a statement following Biden's resignation from the election, Governor Whitmer stated that her role “will remain the same.” It is also worth noting that if she were to be chosen as Kamala's VP, that would make their ticket all-female, which may foster some "woke points," but is politically risky.

Kentucky Gov. Andy Beshear

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Andy Bashear has seemingly beaten the odds twice, having been elected and reelected as the Governor of Kentucky, despite the deep-red nature of the state. Beshear, who has moderate tendencies, would be a boon to the Harris campaign as he has a track record of reaching rural, typically conservative regions where Democrats tend to struggle. He is also known for his propensity to talk about his Christian faith and willingness to work with Republicans, which are traits that might help win over moderates.

But, like Gov. Shapiro, Bashear has very little time to whip up national support and recognition. He also is unlikely to be very much help for the Harris campaign in winning over important swing states.

Five times Glenn had J.D. Vance on his show and where he stands on key issues

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We finally have an answer to the long-awaited question of who Trump will pick for his running mate, and it's none other than Ohio Senator and friend of the show, J.D. Vance. At the RNC in Milwaukee, Trump officially accepted the party's nomination as the Republican candidate and announced J.D. Vance as his running mate.

Glenn has had Senator Vance on the show several times to discuss everything from DEI to the Southern Border. If you are looking to familiarize yourself with the next potential Vice President, look no further, here are five conversations Glenn had with Trump's VP pick:

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