Are we repeating Black Monday 1987?

August 24, 2015

WRITER

The global stock market just took its biggest dive since October 2008. The DOW dropped a stunning 588 points, a sober reminder of how quickly a volatile situation could develop in the event of an economic crash. Glenn shared his thoughts and listed a few suggestions for how to be prepared.

"I would suggest that you have a week's worth of cash on hand. And the only reason why you should have a week's worth of cash on hand is in case they do at some point close the banks just to be able to stabilize the situation. Because that will happen at some point. I don't think it's happening today. But that will happen at some point," Glenn said.

"I would just make sure that you have looked at your food storage and your 72-hour food storage and if you have gold or silver, whatever it is, that you feel good about. You have those things on hand," he said.

"Have you replenished your ammunition and your guns? How are you doing with God? Those are all the doomsday things to do, but if you have any those unchecked on your list, I would make a point to start doing those today. We are headed for trouble," Glenn said.

Listen to or read the full segment below.

Below is a rush transcript of this segment, it might contain errors.

GLENN: It's crazy. It's now challenging today. Thirty-eight dollars a barrel. Thirty-eight dollars a barrel. Let me just give you some comparisons and show you, is it better or is it worse than it was in 2008. Markets and central banks feared inflation at the time, and oil had hit $133 a barrel. Now we have oil at testing $38 a barrel today. Central banks are fearing now massive deflation. The idea that the US central bank or the Federal Reserve is going to higher interest rates is now a thing of the past. That is just not going to happen. I guarantee you, QE4, Quantitative Easing 4, is right around the corner. China had a relatively modest $7 trillion in total debt back in 2007 and '8. That was less than 100% of GDP. Since 2008, China alone has quadrupled their debt from 7 trillion to $28 trillion.

PAT: Wow.

GLENN: So if anybody thinks China is the future, they now have 282 percent of gross domestic product in debt.

PAT: Who is China borrowing from?

GLENN: I have no idea.

PAT: That's amazing.

GLENN: I have absolutely no idea.

Back in 2008, we still had a central bank, a Federal Reserve that said we can do TARP. We can do TARF. We can do all of these programs. Well, now the toolbox is empty. Now they don't have anything. We had the rescue packages. The credit guarantees. Quantitative easing. Zero interest rate policy. Right now, we're almost at zero. We have taken every new program we could. We have yield curve -- bend. We have bought all of the bad debt and put it on the Federal Reserve -- there's nothing left for the Federal Reserve to do. They used to have a clean slate, they don't anymore. We are now down to .25 percent interest rate.

And our -- our -- jeez, I can't remember the name of these things were -- credit default swaps -- our credit default swaps are as bad as China's debt now. Where we were on credit default swaps, we just went back into that business, and it's far worse than it was in 2008. I'm not saying that today is going to be the big plunge. I'm saying that it sure looks like it. The world is taking the big plunge. This could be a Black Monday for us. But the good news is, the stock market has a long way to fall. It's not going to be just one. It will come down and it will go back up a little bit. And then it will go down. It's a gaming table. It will just keep taking money off of the table. Just keep it coming off the table. Not good. Not good.

May I suggest, I do not think that this is the big lights out event, but I will tell you this, I believe there is something in our collective conscience, I believe there is something that is telling people all around -- all around the globe, something bad is coming our way. And I think everybody feels it. So here's what I would suggest you do.

I would suggest that you pay attention to what is in your 401(k). You make sure that there is some sort of stop on your 401(k) so you can't just lose everything on your 401(k). That if you do have stocks, you call your broker today and make sure you have some sort of stop, 5 percent or 10 percent, or whatever else you're ready to risk.

I -- I would highly suggest that you have enough cash for a week. This is not the big crash. I just don't believe that. Maybe it is. I don't believe that. I'm always bad on timing. So seeing that I feel like it's not, it probably is.

However, there is going to come a time when things just stop working and they shut everything down and they stop a run on the bank and everything else. And I don't think we're there. But I would suggest that you have a week's worth of cash on hand. And the only reason why you should have a week's worth of cash on hand is in case they do at some point close the banks just to be able to stabilize the situation. Because that will happen at some point. I don't think it's happening today. But that will happen at some point. So you should have a week's worth because what happens -- we have seen this happen recently in other countries, where they just limit the amount that you can take out. So everybody just gets $200, you know, every couple of days. You can have $200. But that's it. I would just make sure that you have looked at your food storage and your 72-hour food storage and if you have gold or silver, whatever it is, that you feel good about. You have those things on hand. Have you replenished your ammunition and your guns? How are you doing with God? Those are all the doomsday things to do, but if you have any those unchecked on your list, I would make a point to start doing those today. We are headed for trouble

PAT: Potter just called. He's offering 50 cents on the dollar over there. You see. We don't need to do that. You want to foreclose on Mr. Smith and you got your money over here -- that's what you agreed to when you signed the agreement.

GLENN: We should -- we should pull out the episode that I did right after the crash. Remember, we compared it to Potter. I explained the hold thing.

PAT: Yeah. Yeah.

GLENN: We should find that old show and play that.

PAT: Well, because that whole thing is based on the Great Depression and the massive crash.

GLENN: Yeah. It's happening again. It will happen again. We took that show out. We should find that show, and maybe we will air that show or at least that hour sometime this week.

PAT: And there will be the Potters too that will be taking huge advantage of this. There will be the George Soroses that will be making a fortune.

GLENN: Oh, yeah. Well, he already has. We told you last week that he talked these down companies. He talked them down. Said they were horrible, horrible, horrible. Talked them down. Then when their price was down, he swooped in. This is what these guys do. You swoop in. Not at the top. That's when we get into the market. They swoop in at the bottom.

STU: You know it's interesting listening to all the business broadcasts this morning. They were like, don't panic. It's not time to leave. Everything is going to be fine. If you are going to sell today, then maybe you shouldn't be in the market at all. It's like they're just trying to calm fears. But, I mean, it looks like it's going to start really ugly today.

GLENN: What's it down now?

STU: The Dow -- it was 630 points.

GLENN: I saw 666 last time I checked. Wow, that's appropriate.

PAT: Oh, boy.

GLENN: I think we're just -- we're headed for a reset. I mean, the whole thing has to be reset. And, I mean, the whole thing. Not just the banking and the financial. But the whole thing needs to be reset. It doesn't work anymore. You know, we have so bastardized it.

The Woodrow Wilson strategy to get out of Mother’s Day

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I’ve got a potentially helpful revelation that’s gonna blow the lid off your plans for this Sunday. It’s Mother’s Day.

Yeah, that sacred day where you’re guilt-tripped into buying flowers, braving crowded brunch buffets, and pretending you didn’t forget to mail the card. But what if I told you… you don’t have to do it? That’s right, there’s a loophole, a get-out-of-Mother’s-Day-free card, and it’s stamped with the name of none other than… Woodrow Wilson (I hate that guy).

Back in 1914, ol’ Woody Wilson signed a proclamation that officially made Mother’s Day a national holiday. Second Sunday in May, every year. He said it was a day to “publicly express our love and reverence for the mothers of our country.” Sounds sweet, right? Until you peel back the curtain.

See, Wilson wasn’t some sentimental guy sitting around knitting doilies for his mom. No, no, no. This was a calculated move.

The idea for Mother’s Day had been floating around for decades, pushed by influential voices like Julia Ward Howe. By 1911, states were jumping on the bandwagon, but it took Wilson to make it federal. Why? Because he was a master of optics. This guy loved big, symbolic gestures to distract from the real stuff he was up to, like, oh, I don’t know, reshaping the entire federal government!

So here’s the deal: if you’re looking for an excuse to skip Mother’s Day, just lean into this. Say, “Sorry, Mom, I’m not celebrating a holiday cooked up by Woodrow Wilson!” I mean, think about it – this is the guy who gave us the Federal Reserve, the income tax, and don’t even get me started on his assault on basic liberties during World War I. You wanna trust THAT guy with your Sunday plans? I don’t think so! You tell your mom, “Look, I love you, but I’m not observing a Progressive holiday. I’m keeping my brunch money in protest.”

Now, I know what you might be thinking.

“Glenn, my mom’s gonna kill me if I try this.” Fair point. Moms can be scary. But hear me out: you can spin this. Tell her you’re honoring her EVERY DAY instead of some government-mandated holiday. You don’t need Wilson’s permission to love your mom! You can bake her a cake in June, call her in July, or, here’s a wild idea, visit her WITHOUT a Woodrow Wilson federal proclamation guilting you into it.

Shocking Christian massacres unveiled

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Is a Christian Genocide unfolding overseas?

Recent reports suggest an alarming escalation in violence against Christians, raising questions about whether these acts constitute genocide under international law. Recently, Glenn hosted former U.S. Army Special Forces Sniper Tim Kennedy, who discussed a predictive model that forecasts a surge in global Christian persecution for the summer of 2025.

From Africa to Asia and the Middle East, extreme actions—some described as genocidal—have intensified over the past year. Over 380 million Christians worldwide face high levels of persecution, a number that continues to climb. With rising international concern, the United Nations and human rights groups are urging protective measures by the global community. Is a Christian genocide being waged in the far corners of the globe? Where are they taking place, and what is being done?

India: Hindu Extremist Violence Escalates

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In India, attacks on Christians have surged as Hindu extremist groups gain influence within the country. In February 2025, Hindu nationalist leader Aadesh Soni organized a 50,000-person rally in Chhattisgarh, where he called for the rape and murder of all Christians in nearby villages and demanded the execution of Christian leaders to erase Christianity. Other incidents include forced conversions, such as a June 2024 attack in Chhattisgarh, where a Hindu mob gave Christian families a 10-day ultimatum to convert to Hinduism. In December 2024, a Christian man in Uttar Pradesh was attacked, forcibly converted, and paraded while the mob chanted "Death to Jesus."

The United States Commission on International Religious Freedom (USCIRF) recommends designating India a "Country of Particular Concern" and imposing targeted sanctions on those perpetrating these attacks. The international community is increasingly alarmed by the rising tide of religious violence in India.

Syria: Sectarian Violence Post-Regime Change

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Following the collapse of the Assad regime in December 2024, Syria has seen a wave of sectarian violence targeting religious minorities, including Christians, with over 1,000 killed in early 2025. It remains unclear whether Christians are deliberately targeted or caught in broader conflicts, but many fear persecution by the new regime or extremist groups. Hayat Tahrir al-Sham (HTS), a dominant rebel group and known al-Qaeda splinter group now in power, is known for anti-Christian sentiments, heightening fears of increased persecution.

Christians, especially converts from Islam, face severe risks in the unstable post-regime environment. The international community is calling for humanitarian aid and protection for Syria’s vulnerable minority communities.

Democratic Republic of Congo: A "Silent Genocide"

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In February 2025, the Allied Democratic Forces (ADF), an ISIS-affiliated group, beheaded 70 Christians—men, women, and children—in a Protestant church in North Kivu, Democratic Republic of Congo, after tying their hands. This horrific massacre, described as a "silent genocide" reminiscent of the 1994 Rwandan genocide, has shocked the global community.

Since 1996, the ADF and other militias have killed over six million people, with Christians frequently targeted. A Christmas 2024 attack killed 46, further decimating churches in the region. With violence escalating, humanitarian organizations are urging immediate international intervention to address the crisis.

POLL: Starbase exposed: Musk’s vision or corporate takeover?

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Is Starbase the future of innovation or a step too far?

Elon Musk’s ambitious Starbase project in South Texas is reshaping Boca Chica into a cutting-edge hub for SpaceX’s Starship program, promising thousands of jobs and a leap toward Mars colonization. Supporters see Musk as a visionary, driving economic growth and innovation in a historically underserved region. However, local critics, including Brownsville residents and activists, argue that SpaceX’s presence raises rents, restricts beach access, and threatens environmental harm, with Starbase’s potential incorporation as a city sparking fears of unchecked corporate control. As pro-Musk advocates clash with anti-Musk skeptics, will Starbase unite the community or deepen the divide?

Let us know what you think in the poll below:

Is Starbase’s development a big win for South Texas?

Should Starbase become its own city?

Is Elon Musk’s vision more of a benefit than a burden for the region?

Shocking truth behind Trump-Zelenskyy mineral deal unveiled

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President Donald Trump and Ukrainian President Volodymyr Zelenskyy have finalized a landmark agreement that will shape the future of U.S.-Ukraine relations. The agreement focuses on mineral access and war recovery.

After a tense March meeting, Trump and Zelenskyy signed a deal on Wednesday, April 30, 2025, granting the U.S. preferential mineral rights in Ukraine in exchange for continued military support. Glenn analyzed an earlier version of the agreement in March, when Zelenskyy rejected it, highlighting its potential benefits for America, Ukraine, and Europe. Glenn praised the deal’s strategic alignment with U.S. interests, including reducing reliance on China for critical minerals and fostering regional peace.

However, the agreement signed this week differs from the March proposal Glenn praised. Negotiations led to significant revisions, reflecting compromises on both sides. What changes were made? What did each leader seek, and what did they achieve? How will this deal impact the future of U.S.-Ukraine relations and global geopolitics? Below, we break down the key aspects of the agreement.

What did Trump want?

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Trump aimed to curb what many perceive as Ukraine’s overreliance on U.S. aid while securing strategic advantages for America. His primary goals included obtaining reimbursement for the billions in military aid provided to Ukraine, gaining exclusive access to Ukraine’s valuable minerals (such as titanium, uranium, and lithium), and reducing Western dependence on China for critical resources. These minerals are essential for aerospace, energy, and technology sectors, and Trump saw their acquisition as a way to bolster U.S. national security and economic competitiveness. Additionally, he sought to advance peace talks to end the Russia-Ukraine war, positioning the U.S. as a key mediator.

Ultimately, Trump secured preferential—but not exclusive—rights to extract Ukraine’s minerals through the United States-Ukraine Reconstruction Investment Fund, as outlined in the agreement. The U.S. will not receive reimbursement for past aid, but future military contributions will count toward the joint fund, designed to support Ukraine’s post-war recovery. Zelenskyy’s commitment to peace negotiations under U.S. leadership aligns with Trump’s goal of resolving the conflict, giving him leverage in discussions with Russia.

These outcomes partially meet Trump’s objectives. The preferential mineral rights strengthen U.S. access to critical resources, but the lack of exclusivity and reimbursement limits the deal’s financial benefits. The peace commitment, however, positions Trump as a central figure in shaping the war’s resolution, potentially enhancing his diplomatic influence.

What did Zelenskyy want?

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Zelenskyy sought to sustain U.S. military and economic support without the burden of repaying past aid, which has been critical for Ukraine’s defense against Russia. He also prioritized reconstruction funds to rebuild Ukraine’s war-torn economy and infrastructure. Security guarantees from the U.S. to deter future Russian aggression were a key demand, though controversial, as they risked entangling America in long-term commitments. Additionally, Zelenskyy aimed to retain control over Ukraine’s mineral wealth to safeguard national sovereignty and align with the country’s European Union membership aspirations.

The final deal delivered several of Zelenskyy’s priorities. The reconstruction fund, supported by future U.S. aid, provides a financial lifeline for Ukraine’s recovery without requiring repayment of past assistance. Ukraine retained ownership of its subsoil and decision-making authority over mineral extraction, granting only preferential access to the U.S. However, Zelenskyy conceded on security guarantees, a significant compromise, and agreed to pursue peace talks under Trump’s leadership, which may involve territorial or political concessions to Russia.

Zelenskyy’s outcomes reflect a delicate balance. The reconstruction fund and retained mineral control bolster Ukraine’s economic and sovereign interests, but the absence of security guarantees and pressure to negotiate peace could strain domestic support and challenge Ukraine’s long-term stability.

What does this mean for the future?

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While Trump didn’t secure all his demands, the deal advances several of his broader strategic goals. By gaining access to Ukraine’s mineral riches, the U.S. undermines China’s dominance over critical elements like lithium and graphite, essential for technology and energy industries. This shift reduces American and European dependence on Chinese supply chains, strengthening Western industrial and tech sectors. Most significantly, the agreement marks a pivotal step toward peace in Europe. Ending the Russia-Ukraine war, which has claimed thousands of lives, is a top priority for Trump, and Zelenskyy’s commitment to U.S.-led peace talks enhances Trump’s leverage in negotiations with Russia. Notably, the deal avoids binding U.S. commitments to Ukraine’s long-term defense, preserving flexibility for future administrations.

The deal’s broader implications align with the vision Glenn outlined in March, when he praised its potential to benefit America, Ukraine, and Europe by securing resources and creating peace. While the final agreement differs from Glenn's hopes, it still achieves key goals he outlined.

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