Will Main Street Get a Tax-Free Holiday Next Year?

Chris Martenson from PeakProsperity.com joined The Glenn Beck Program on Monday talk about what Glenn calls a "weird switching of musical chairs."

"The right is now convinced that everything is fine, and the left is now convinced we're on the precipice," Glenn said.

Martenson predicted another change given that the Federal Reserve is terrified of even the slightest market correction.

"We're still accumulating debt at more than twice the rate that the economy is growing," Martenson warned. "So to get around that math problem, they're going to have to give money to Main Street. And I'm talking like complete tax holiday next year. A check from the Federal Reserve. Something like that."

If that's the case, get your shopping lists ready to buy because hyperinflation will be just around the corner.

Listen to this segment from The Glenn Beck Program:

GLENN: All right. So Chris Martenson is here from peakprosperity.com. And we're talking a little bit about the economy and what is to come. And there is this weird switching of musical chairs, where the right is now convinced that everything is fine.

CHRIS: Uh-huh.

GLENN: And the left is now convinced we're on the precipice. And I'm happy to say that I haven't changed my position in two presidents.

CHRIS: Yeah.

GLENN: What was coming in 2006, that we felt coming, is still coming.

We propped it up. It's still coming, and it's going to be worse.

You said that there's two parts to this. There's the downside.

CHRIS: Uh-huh.

GLENN: Right? And, part two?

CHRIS: Well, economically, there's first the downside and then the Federal Reserve has to print more and more and more. They're going to keep trying the same thing over and over again. And it's not really going to work. I haven't changed my position over a couple of presidents either because there's deeper structural things that we need to attend to. And that's part two. That's the part of the story I'm actually excited about, is can we finally have the conversation to say, "Who do we want to be?" You know, where do we want to go as a country? And have that vision and really bring that forward.

GLENN: Okay. Before we get there, tell me -- they've printed all this money, and it went all to the Wall Street fat cats.

CHRIS: Right.

GLENN: I was just told by Wall Streeters, that this is not true, Glenn. They're not buying back their own stock. The fundamentals are sound. And I said, "You're starting to see the beginnings of inflation. There's no inflation on chicken. There is inflation in the stock market. That's inflation. That is inflated money. Funny money had by all the fat cats. They're dumping it in there. That's making the stock market go up, and everybody feels good."

CHRIS: Right.

GLENN: But the average person didn't get that money. Banks never lent that money. Go try to get a business loan.

Now you're saying that they're going to print again. Where are they going to give the money this time?

CHRIS: This time it's got to go to Main Street. They've tried giving all this money to Wall Street. They'll keep doing that. The Federal Reserve and the other central banks are scared to death of even the most minor market correction. When the markets start to go down, even a little bit, they come out, and they use words. And I think they might even be using other means to drive the markets back up again. They're scared of that. But it hasn't really worked. When you look at overall economic growth, worldwide United States, it's not there.

GLENN: Right.

CHRIS: We're still accumulating debt at more than twice the rate that the economy is growing. Try doing that -- you know, your credit card is growing at twice as fast as your income. It doesn't work. It's a math problem.

So to get around that math problem, they're going to have to give money to Main Street. And I'm talking like complete tax holiday next year. A check from the Federal Reserve. Something like that.

GLENN: For everybody?

CHRIS: Everybody. They'll have to do something like that.

PAT: Yay!

GLENN: I mean, it would be hard to -- to be disappointed on a tax holiday.

PAT: Yeah, it would. A complete tax holiday. That would be really hard to say no to.

PAT: Yes, it would.

GLENN: And they expect us to just dump it into the system.

CHRIS: And I not only would expect people to do that, I would encourage them to do that. As soon as that tax holiday comes, run, don't walk. And make sure you know what your buy list is going to look like because that's when we're starting down to act two of the story, which is hyperinflation. All of that.

GLENN: Inflation. Hyperinflation.

Okay. Because when they start dumping -- you know, this is one of the guys who said, "Glenn, these corporations, you're going to get tax breaks. And these corporations are going to repatriot their money." I said, "That's $15 trillion repatrioted to the United States. Where is all that money going to go?" It's either going to go to the stock market, or they're going to start building factories and everything else. Then that's $15 trillion that is going to be seeping through the system. How do you not have inflation?

CHRIS: Uh-huh.

GLENN: And they said that wasn't a concern.

And I didn't understand the math on that one. But that's what the experts told me.

CHRIS: Now, look, everybody fights their last battle. So when we say inflation, people think about back to the '70s, where you had a wage-price spiral, right?

GLENN: No, I'm thinking '30s.

CHRIS: Or '30s. Right? But we're not having that world. So you're absolutely right in identifying, look, if you dump money into a market, you get inflation.

GLENN: But we are getting inflation.

CHRIS: We are.

GLENN: To the people who got the money. It's the stock market, right?

CHRIS: Look at the trophy properties in Manhattan and San Francisco and London.

Look at the price for rare gems. Fine art. Gulfstream Vs. All very hard to come by. Trophy Islands, right?

They dumped the money in to the fat cats, and they bid up everything they care about. Right?

All of those things I just mentioned, through the roof inflation. But people aren't recognizing that because we don't measure that when we look at the inflation measures. We measure chicken.

This next part of this story is they start pushing the money into the people, and that's where we get the other inflationary parts.

Now, the real question is, does the rest of the world say, "Yeah, I'll continue to hold US dollars under that circumstance?" So you have corporations rushing their money back.

Hey, but maybe the Bank of Iraq says we don't want dollars anymore. We don't like what you're doing. They start selling. China starts selling.

That's when you start getting the external inflation that comes back into this country. Because we've been great exporters. Fantastic. Of dollars. We've done a lot of that. And we're just kind of hoping that that won't stop. Like everybody will just continue to want to hold our dollars, forever and ever, no matter what. And that's an assumption that really needs to be tested.

GLENN: Well, preferably not in my lifetime. But it's going to be tested. It's going to be tested.

CHRIS: Uh-huh.

GLENN: You just said that coming to this realization has been the best thing in your life.

CHRIS: Uh-huh.

GLENN: Really? Because it always makes me really miserable.

CHRIS: Uh-huh.

GLENN: I mean, I look at it and I think, "Holy cow, I don't want to go through that."

JEFFY: Who cares? And what's the use?

GLENN: Yeah, what's the use? What am I going to do about it?

CHRIS: So, listen, there's a lot of things I can't control in this story. I can't control what the Federal Reserve is going to do about money printing. I have some ideas. I think I know what they're going to do. What can I do about that? Nothing.

I can, however, control my exposure to the dollar. So I have a lot of my assets out of the dollar. I have a lot of gold, a lot of silver, I own real estate. Tangible things. Because we've seen this story before, right?

In -- from 1918 to 1923, in Austria, they went through the Weimar hyperinflation. They write books about it. And they talk about it as if the great wealth destruction, the middle class was wiped out. And they still talk about it, oh, it's a wealth destruction. But not if you understand what wealth really is. Wealth is productive farmland, factories, hotels, the productive enterprises of the nation. Those didn't go away because they went through hyperinflation. But who owned them, that changed a lot.

So, yes, in this story, it's already happening. You know who the largest landlord in America is right now? The Federal Reserve.

JEFFY: The government. Yeah.

CHRIS: They own $1.75 trillion in mortgage-backed securities, which makes them the largest landlord in America.

Where did they get that 1.75 trillion to own more real estate than anybody else in this country? Well, they printed it out of thin air. We should be talking about that.

So this ownership is going to change a lot. So this is my advice to everybody is watch the trends, understand this is coming, and then own real assets.

GLENN: But doesn't that -- doesn't the ownership of more property in America, by the Federal Reserve, isn't that just now once again the rich getting richer?

I mean, this income -- what was it? Somebody last night was doing income redistribution for the Super Bowl. That's not the answer. But there is a problem here. And I don't know -- I don't know how to solve that. You do have the uber, uber fat cats. Not the guy who are living in the fancy houses in most -- in most towns. But the uber, uber billionaires that are up at the top of this banking problem and Wall Street problem. There's where they're sucking up all of the money.

CHRIS: Right.

GLENN: So how do we solve that without riots in the street?

CHRIS: But we're getting there already because they have -- that sucking sound is them sucking the economic oxygen out.

Let's look at, like -- rental prices in all the major cities have been going up at 8, 9, and 10 percent for the past five or six years.

And the reason for that is you have big, giant private equity companies. They get to borrow at 1 percent. So their rate of mortgage is a 1 percent mortgage. And they're competing against you or I, who might want to try and buy those apartments, who are not renting it, but our cost of capital is four, 4.5 percent on a mortgage. So they borrow at 1, unlimited. And then buy up all these things because they can make that number work at 1 percent. And for you, it's harder to make it work at 4 percent, right?

So they just have access to capital, and this is what Janet Yellen and the central bank of the United States, this is what they're defending.

This is what they're saying has had no economic harm, that they haven't been driving this wealth gap that exists in America. But it's happening structurally because we haven't been able to face it -- it doesn't exist.

GLENN: Right. We can't borrow the money that they can borrow.

CHRIS: Right. It's totally unfair playing field. It's shaped like this.

GLENN: So how do we fix that? How does that fix it, when they hold all the cards?

CHRIS: Well, this is a very big topic.

But in my mind, we have to first confront the problem, understand it for what it is, and I think this is almost a cultural piece. I think it's time to actually not say, "Oh, it's this big private equity company," but let's call out the CEO of that company. And let's make them understand that we have -- we're watching them. I mean, maybe public shame used to be a feature, right?

CEOs used to be ashamed to take more money than their workers back in the '50s and '60s. It was a thing that you wouldn't do that. Today, we've become shameless.

GLENN: See, I don't necessarily have a problem. You know, if you are the -- if you're the wealth creator -- like I'm the wealth creator here. Everybody is working for me. We all know key man insurance, I die, the company dies. So why should I -- why should I not make more than the people who work?

CHRIS: Well, let's separate people who actually are generating, creating value and people who are skimming. All right?

What I'm talking about, these people are just running skimming operations. They don't create anything. They're just running a skimming operation. I might pick on, for instance, in the Affordable Care Act, Obamacare, they went after everything. I'm getting killed by this, by the way.

GLENN: We all are.

CHRIS: Sixty-one and half percent increase this year, 25 percent last year.

PAT: Wow.

GLENN: Jeez. Holy cow.

CHRIS: Right? And that's dialing my way down through the bronze plans and all kinds of, like, deductible increases. All that.

GLENN: Right.

CHRIS: Where my anger, if not rage comes up, is when I open it up and discover that the CEO of Humana Health Care took home $66 million last year. 66 million. And that's just him. You look at the rest of the C-suite, they might have skimmed a billion dollars out of this. They weren't asked to contribute anything to this story, right? You would have to have over 4,500 families at my level paying into that system, just to pay that one person's salary. What did he actually do? He skimmed.

This is -- so there's a level, beyond which -- there's a tougher story we have to get to here, but that's just gone off the rails. It's -- you ever see that old game show where they put somebody in a plexiglass thing and dollars around them and trying to grab them as fast as they can?

I feel like that's the part of the story we're in. That's what it feels like. Everybody is just grabbing money as fast as they can because we all know that you can't print your way to prosperity. The money machine turns off at some point so you might as well grab as much as you can, while the fans are still growing and the money is swirling.

PAT: Isn't that -- that's market value though, right? I mean, if his company is willing to pay him $66 million, then pay him $66 million.

GLENN: Because who else is going to do it?

PAT: Right?

GLENN: They can make $65 million someplace else.

PAT: Isn't that the free market system? I'm not sure how you get around that.

GLENN: How do you solve that?

PAT: You can't make it equitable for everybody. It's never going to be. That's not capitalism. That's not communism. We can make it equitable if it's bad for everybody. But we can't make it equitably good for everybody.

GLENN: Yeah.

PAT: So the CEO of a major corporation is going to make a heck of a lot more than a worker with less education, with less skill.

GLENN: And I'm concerned because there are some --

PAT: Less work ethic.

GLENN: There are things -- some of these CEOs. You know, the banks really bother me. Because they know exactly what they're doing. They know exactly what's happening. They know the game that's being played. They know it's not going to work. And they're not warning anybody. They're out there, while they're taking tons of cash.

However, I hate to say CEOs. Because how do we know -- I mean, that just gets into the mob mentality of, get 'em.

CHRIS: Well, in this particular case, I'm talking about a highly regulated industry. So in my state -- and I live in Massachusetts.

PAT: There's your problem right there: Highly regulated. That's the problem.

CHRIS: I know. Well, it's regulated to the point that in my state, there's no competition allowed. Right? I can't buy certain levels of insurance because they've been lobbied out of my state.

PAT: Right. That's the problem.

GLENN: Correct.

PAT: But that's not the CEOs fault. That's the government's fault.

CHRIS: Well, no, the CEOs create this --

PAT: We need them out of it.

GLENN: I will tell you, I'm with both of you here. It is the government, Pat, but it is the CEOs.

What did Bill Gates just say his biggest problem was? His biggest problem was that he didn't feel -- at the time he created Microsoft, that they needed government. His deal was, I'm going to create what I create. You do your job. Leave me alone.

PAT: Uh-huh.

GLENN: Where Apple went and they partnered with the government.

CHRIS: Hmm.

GLENN: He said, "Microsoft is paying the price right now because they didn't feel they needed somebody to go in."

So you're kind of like the free market. If you have a fiduciary responsibility. I'm the CEO. I'm going to go -- if my business competitor is going the other direction and they're going to the government, my fiduciary responsibility, isn't it to go to the government as well? I mean, we just -- this whole system is broken.

PAT: But, again, that's government intervention. And it shouldn't be there. It shouldn't be there.

GLENN: Right. But how many people have the principles to be able to hold fast, especially when you have shareholders beating you down the door? I mean, I don't have the answer.

Award-winning investigative journalist Lara Logan told Glenn Beck on the radio program Wednesday that a network of radical extremist terrorist organizations, which includes Antifa, are coordinating and escalating many of the violent riots in the wake of George Floyd's death.

Lara, who has done extensive reporting on Antifa, said it's "extraordinary" that so many Americans in the media and politics are defending the "very violent terrorist organization."

"[The media is] pretending that they care about journalism. They don't. They care about silencing, intimidating, destroying, annihilating, and getting us all to self-sensor so we don't cover any of the subjects they don't want us talking about," she said.

"For those of us who've followed [Antifa] for a while, and know what they're doing and what their agenda is, what has always been troubling is the way so many people in the media and in the political establishment have given them cover to operate," Laura added. "These are extremists. And you see a lot of parallels between extremists on the left and the right ... they pretty much operate the same way, exactly. And there's no difference between what Antifa is doing and the 'Brown Shirts' of Nazi Germany. Or the 'Black Shirts' of Mussolini."

She read the 10 points of action listed by an extremist group called the "Revolutionary Abolitionist Movement", which culminates with "Liberation begins where America dies."

Glenn recalled a prediction he made approximately 15 years ago, that "socialist, communists, radicals, anarchists, [and] Islamists would all work together ... they would all see the opportunity and work toward the same goal. And that's destruction of capitalism, and destruction of the Western world."

"A few years ago, I probably would not have agreed with you on that," Laura responded. "But I now see that you're absolutely correct."

Watch the video below to hear Lara detail evidence to expose the truth about Antifa:

Media targets Lara Logan for exposing the truth about Antifa

The media pretends to care about good journalism, but what they really care about silencing, intimidating, destroying, annihilating and getting us all to...


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The Trump-deranged media is calling the president a "coward" because he was moved to an underground bunker as riots erupted outside the White House over the weekend.

Former Secret Service agent Dan Bongino joined the "Glenn Beck Radio Program" Tuesday to set the record straight. He told Glenn that under Title 18, US Code 3056, the Secret Service has the authority to protect the president however they deem necessary, with or without his consent.

Dan explained that the severity of the White House riots, which resulted in at least 50 Secret Service agents being injured, would very likely have warranted overriding the president's preference on whether or not to take shelter.

"Shame on the media ... for painting this as some kind of situation where Trump ran like a coward," Dan said. "Which is totally false and made-up. [...] They're morons. These are imbeciles with double digit IQs who are only in this to aggravate an already-bad situation. And it's a shame, because they're really incentivizing this kind of stuff to happen."

He also made it clear that the so-called protests over the death of George Floyd were actually "very strategic" riots organized by "Antifa terrorists."

"It was not even a protest. It should have been, and could have been ... but that's not what it was. It was an insurrection. It was a riot," Dan stated.

"I can tell you, from sources of mine that were there, [who are] more than credible and unimpeachable, that the attack at the White House -- and that's what it was over a period of days -- was very organized. It was done using very strategic tactics," he added. "I want to be crystal clear, this was organized by Antifa terrorists. It's not a joke. It's not hyperbole. These were people that were committed to an insurrection that was thankfully put down."

Watch the video below for more details:

Dan Bongino: Trump is NOT a Coward Hiding in a Bunker


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The media has been trying to discredit BlazeTV's Elijah Schaffer after he recorded a disturbing video of a man being brutally beaten and stoned almost to death by rioters Saturday evening in Dallas.

Elijah joined Glenn Beck on the radio program Monday to set the record straight.

"The very dishonest far-left media is working tirelessly at the moment to completely, not only discredit myself, but they always say, 'Elijah Schaffer who works for Glenn Beck's BlazeTV.' As if that's an insult. So I'm going to clear the air right now," he told Glenn.

"There was a group of about, I would say 150 rioters. They were not protesters. They were breaking windows. They broke into a bank. They broke into a bar. They were looting alcohol and partying on the streets while breaking glass. These were not people who were grieving over black lives," he added. "The police had lost control of the city."

Elijah went on to describe the violent scene, detailing the events leading up to the brutal beating of a man who was apparently trying to defend a local bar. Elijah posted a video of the incident on Twitter Saturday night.

*Warning: graphic content*

"Rioters with rocks and bricks and bats and weapons, 150 or more, were accosting him as he stood in front of the bar," Elijah said. "Then they started stoning him, Glenn! Medieval! Throwing rocks and bricks.... We're in America. This is 2020. We do not stone people in the United States of America!"

Watch the video below for more details:

*Warning: graphic content*

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A new Pew Research Center report shows the death toll in the United States from COVID-19 is "heavily concentrated" in Democratic congressional districts.

According to the analysis, more than half of all COVID-19 deaths in the U.S. occurred in just 44 (approximately 10 percent of) congressional districts, and 41 of those 44 hardest-hit districts are represented by Democrats, while only three are represented by Republicans.

"A new Pew Research Center analysis of data on official reports of COVID-19 deaths, collected by the John Hopkins University Center for Systems Science and Engineering, finds that, as of last week, nearly a quarter of all the deaths in the United States attributed to the coronavirus have been in just 12 congressional districts – all located in New York City and represented by Democrats in Congress. Of the more than 92,000 Americans who had died of COVID-19 as of May 20 (the date that the data in this analysis was collected), nearly 75,000 were in Democratic congressional districts," Pew reported.

Filling in for Glenn Beck on the radio program this week, Pat Gray and Stu Burguiere argued that, while the coronavirus should never have been made into a partisan issue, the study certainly makes a strong statement in favor of GOP leadership.

Watch the video below:


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