Signs of Hope: A Millennial Makes Glenn's Day

Ready for a spark of hope? Glenn spoke with Carolyn on radio today, an 18-year-old millennial who called from Pennsylvania to talk about her upbringing, interests and plans for the future. Aside from her impressive and exemplary manners, Carolyn calmly and confidently articulated her ideas with thoughtfulness and intelligence.

Speaking about her father, Carolyn had this to say:

"He really is my role model because he always lived a life, he always does live a life of integrity. You know, it's . . . sort of like in Ayn Rand's book Fountainhead, you know, he'll take whatever job necessary as long as he keeps his integrity," she said.

Carolyn also revealed that she began listening to Glenn in the fourth grade.

"She's killing me," Glenn replied.

Having just graduated from high school, Carolyn will attend Hillsdale College in the fall to study politics and history.

Listen to this segment from The Glenn Beck Program:

GLENN: America, I want to introduce you to Carolyn, as we meet for the very first time, calling from Pennsylvania.

Hello, Carolyn.

CALLER: Hi, Mr. Beck.

GLENN: How are you? You can call me Glenn. You're 19 years old?

CALLER: I'm actually 18, sir. I just graduated.

GLENN: Wow, 18. You are so polite. You were homeschooled?

CALLER: Actually no. No, sir. I went to Catholic school.

GLENN: Okay. You were -- you grew up in a military family?

CALLER: No, sir. I grew up --

GLENN: Okay. Wait. Wait. You grew -- I'm just guessing -- you grew up in the South?

CALLER: No, sir. Western PA.

STU: You're doing a good job of cold reading here.

GLENN: I've gone through everything that usually is tied directly to, yes, sir, no, sir. Where did you pick that up? It's refreshing and wonderful.

CALLER: I mean, I grew up with a father who was a small business owner, who taught his sons and daughters from a small age to go in for a strong handshake, look someone in the eye, and say, yes, sir, no, sir.

GLENN: I love your dad.

(chuckling)

CALLER: He's been a very big fan of your show.

GLENN: What does he do? What's his business?

CALLER: Well, for most of my life, my father owned furniture store companies. Though he would sell furniture to people in the local area. But after the crash in '08, you know, things got rough. And he tried and tried again to start something up. But he bit his tongue and just took a kind of different path in life.

GLENN: And what happened? He's selling drugs now?

CALLER: No. He -- he works for the state. He works for -- well, we call it PennDOT. He works for the state as a foreman.

GLENN: Oh, my gosh. That must be killing him. That must be killing him.

CALLER: Yes, sir. He's part of a union. And I now kind of see it as a blessing because I now understand, you know, not just the side of the entrepreneur, but the side of the union man. And it's very humbling.

GLENN: Carolyn, I want you to close your eyes right now and put your hand on the radio, and we're going to heal your father from his deep scars. My gosh, I can't imagine what it would be like to join a union after a lifetime of working for yourself. To join a union and then -- and then PennDOT. I used to live in Pennsylvania, so I know.

CALLER: Yeah. Yeah. He really is my role model because he -- he always lived a life -- he always does live a life of integrity. You know, it's not -- sort of like in Ayn Rand's book, Fountainhead, you know, he'll take whatever job necessary as long as he keeps his integrity.

GLENN: Wow, I could talk to you all day. You make me feel good.

So, Carolyn, how can we help you?

CALLER: You posed a question yesterday of how your life has changed since 2006. But I can kind of trace it back a little bit further. I first started talking about politics when I was in kindergarten. I came home -- I came home crying on the bus in kindergarten because in 2004, no one wanted to discuss the Bush versus Gore reelection with me, and I was very, very much so at politics even at that young age. And I actually started watching your show in about fourth grade.

In fourth grade, I had received --

GLENN: She's killing me.

CALLER: Yeah. I had received a B in I think it was my reading class, and so I wasn't allowed to watch TV for the rest of the school year. So every night, my dad would let me sneak in and watch Bill O'Reilly's show, which really got me started. And after that, I would come home after school every day and sit and watch your show at 5 o'clock exactly.

GLENN: Wow. Thank you so much. So that has -- that has damaged you and oppressed you.

CALLER: No. No, sir.

GLENN: Or?

CALLER: It's definitely taught me the importance of principles. You know, I know today in the political climate we live in, especially as a young student, it's hard to -- to be able to see right versus left because it seems as though politics infiltrates not just culture, but the classroom. And what I've learned over time is that, yes, people who are liberals can be friends with conservatives.

The key is that you stand on principles. And not rhetoric. I know after the very -- very scary shooting last week of -- at Capitol Hill, I texted a lot of my -- my more liberal friends, you know, who supported Bernie Sanders, voted for Clinton. And I just said, "Hey, I'm someone who stands on the principle of individuality. And I know that just because one Bernie Sanders supporter did such a terrible act, that does not make all Bernie Sanders supporters terrible people." And I just wanted to remind them that. And that I loved them.

GLENN: And what was their response?

CALLER: A lot of them were just so grateful that I gave -- that I showed love. And they said, Carolyn, you've taught me that not all Trump supporters are KKK members. Or not all Trump supporters are Nazis. Because if you don't show love and reach out during those moments, it would be easy to let the status quo persist. And I just wanted to be able to show, you know, just little acts of live. And it does change people's minds rather quickly when you do that.

GLENN: You know, it's funny, I was having dinner last night with some Silicon Valley and some Hollywood lefties. And as we were -- we were talking, a couple of them sounded very much like people that -- one person in particular that I spoke to yesterday to, on the radio, a woman called, and she was very animated. And felt that --

CALLER: Sir.

GLENN: I was, you know, betraying the cause by -- by saying that we have to be -- we have to change our language and we have to be very aware of how we're talking. Because we can make an impact for the good as opposed to just building up more walls.

And -- and most of the people that were at dinner with me last night, they felt the same way. And they were looking for a way to start talking to people. And not necessarily about politics. Just talking to people. And one of the guys said something along the lines of, you know, we need to fix things politically. We need the government to -- to fix all of these things. And, you know, the language is not going to break through.

And I have found -- I mean, I -- I am sitting with you guys. Because I changed my language. And I haven't changed a thing in my policy and my principles. But we're talking. So how can you not say that it doesn't work? It does.

CALLER: I -- I -- I whole-heartedly agree with you, sir. I think it's very interesting that you're discussing, you know, the idea of care versus harm, liberty and oppression. Because last summer I was actually sitting in a lecture where we were discussing, you know, political campaigning and the such. And the speaker put up on the screen this chart about how liberals use certain words and they react to certain words versus conservatives. And it was the same kind of idea of liberty, care, harm, justice.

GLENN: Yes.

CALLER: And I just sat there, and I thought, you know, that's it. That's the secret.

And so ever since then, I've been able to engage some of my liberal friends on things such as Planned Parenthood and being pro-life and really some hot button topics. But if you go in and speak the language and you go in with genuine love and intellectual curiosity, which most of my liberal friends are curious, they want to know what a conservative believes. Why we believe what we believe. They don't just want to label everyone. They do want to know. And if you go in from that approach, they are much more open and much more understanding. They may not change their minds, but they want to understand, the same way we should want to understand.

GLENN: Oh, my gosh. And it's really amazing -- and I have example after example after example of this -- people don't know how to be able to have that dialogue. But they want that dialogue. And if you will model it, they will fall into it.

And it's -- you know, the -- one of the -- one of the guys that was there last night said, you know, I read a book. And he said, "It totally changed my mind. Totally changed my mind."

CALLER: Yeah.

GLENN: And he said, "It is the Righteous Mind by Jonathan Haidt."

CALLER: Hmm.

GLENN: Which is the book that really takes the care and harm and liberty and oppression and is teaching me -- has totally changed the way I view things. And you can. I spoke at a table with 20 Silicon Valley liberals last night. One Libertarian.

And we spoke about abortion. And I talked about how they see oppression of women, and they all shook their heads. And I said, "We see sanctity." And I could feel their eyes roll up. And I said, and that's a word that you guys don't speak. So let's just talk about harm to women. And we had this conversation.

And it was -- I don't know if anybody changed their mind or anything, but at least it didn't devolve into where it usually devolves.

I mean, one of the guys who was with me, he sat back from the table, and he said -- I said, "What did you notice about things?" And he said, "I was watching people and listening." And he said, "As you were speaking, I heard so many people say, huh. Wow."

JEFFY: Yeah.

GLENN: And that's the beginning of it. Just opening people's minds to, that's not what I thought at all.

CALLER: Yeah. Exactly. And I think as soon as -- as soon as that spark kind of goes off in someone's mind and the wheels start to turn -- it's not that you should go in with the approach of you want to change their mind, but you just want to understand and they want to understand, that's when real change happens.

GLENN: Yeah. The problems that I have with talking people is when they say, "How do you win?" Or they're trying to win the argument.

There's no -- Martin Luther King said -- and he is absolutely right. Winning assumes that there's going to be a loser. And you want everyone walking from the table feeling that they've -- that they've won, that they've reconciled with somebody else.

CALLER: Exactly.

GLENN: Because we're going to have to -- if you play this out in your head -- if the Democrats get absolutely everything that they want, and let's say they rule for the next 20 years and they get this socialist utopia. Well, there are going to be people like me and maybe you that -- no. Never. I'm not going there. I won't buy into it. I'm not going to speak that language. I'm not -- I will not go over the cliff with the rest of humanity because it's easier. I will stand for what I believe is the truth.

So what do they do with that ten to 30 percent of that population that doesn't comply? Well, usually, it's round them up and kill them or put them in a training camp or whatever.

That's what happens. And the same would happen if you are a big government person on the right. What are you going to do with the people that disagree with you that will never change their mind? You have to reconcile with them and live in peace. And that has to be done before we talk about any policies. We have to start trusting each other.

Carolyn, quickly, what do you want to do for a living?

CALLER: I've not thought that far. I will be attending Hillsdale College in the fall, where I'll be studying politics and history.

GLENN: Good choice.

CALLER: And I know I -- I joke with my mother, I was adopted from South Korea -- so I can't run for president. But I love to joke with my parents that I would like to find a way to be First Lady.

GLENN: Oh, that's great.

CALLER: The same way Jackie Kennedy went in and sort of restored the White House with interior design. I would say I would like to restore it with making it the people's house again. Allowing -- allowing people from all over the country to come in and, you know, have lunch with the president or the First Lady and just spend hours talking and really knowing what they want to hear.

GLENN: Carolyn, I would love to spend more time with you. I would like to have our producers grab your phone number. I would like to have you on at least once a year to see that you have held the course all the way through school. And if you're ever looking for an internship, I would love to have you intern directly with me. So I want to put you on hold. We'll get the phone numbers. Thank you so much. And say hello to your father and your mother.

CALLER: Thank you, sir.

Rapper Kendrick Lamar brings white fan onstage to sing with him, but here’s the catch

Matt Winkelmeyer/Getty Images for American Express

Rapper Kendrick Lamar asked a fan to come onstage and sing with him, only to condemn her when she failed to censor all of the song's frequent mentions of the “n-word" while singing along.

RELATED: You'll Never Guess Who Wrote the Racist Message Targeting Black Air Force Cadets

“I am so sorry," she apologized when Lamar pointed out that she needed to “bleep" that word. “I'm used to singing it like you wrote it." She was booed at by the crowd of people, many screaming “f*** you" after her mistake.

On Tuesday's show, Pat and Jeffy watched the clip and talked about some of the Twitter reactions.

“This is ridiculous," Pat said. “The situation with this word has become so ludicrous."

What happened?

MSNBC's Katy Tur didn't bother to hide her pro-gun control bias in an interview with Texas Attorney General Ken Paxton in the wake of the Santa Fe High School killings.

RELATED: Media Are Pushing Inflated '18 School Shootings' Statistic. Here Are the Facts.

What did she ask?

As Pat pointed out while sitting in for Glenn on today's show, Tur tried to “badger" Paxton into vowing that he would push for a magical fix that will make schools “100 percent safe." She found it “just wild" that the Texas attorney general couldn't promise that schools will ever be completely, totally safe.

“Can you promise kids in Texas today that they're safe to go to school?" Tur pressured Paxton.

“I don't think there's any way to say that we're ever 100 percent safe," the attorney general responded.

What solutions did the AG offer?

“We've got a long way to go," Paxton said. He listed potential solutions to improve school safety, including installing security officers and training administrators and teachers to carry a gun.

Pat's take:

“Unbelievable," Pat said on today's show. “Nobody can promise [100 percent safety]."

Every president from George Washington to Donald Trump has issued at least one executive order (with the exception of William Harrison who died just 31 days into his presidency) and yet the U.S. Constitution doesn't even mention executive orders. So how did the use of this legislative loophole become such an accepted part of the job? Well, we can thank Franklin Roosevelt for that.

Back at the chalkboard, Glenn Beck broke down the progression of the executive order over the years and discussed which US Presidents have been the “worst offenders."

RELATED: POWER GRAB: Here's how US presidents use 'moments of crisis' to override Constitutional law

“It's hard to judge our worst presidential overreachers on sheer numbers alone," said Glenn. “However, it's not a shock that FDR issued by far the most of any president."

Our first 15 presidents issued a combined total of 143. By comparison, Franklin D. Roosevelt issued 3721, more than twice the next runner up, Woodrow Wilson, at 1803.

“Next to FDR, no other president in our history attempted to reshape so much of American life by decree, until we get to this guy: President Obama," Glenn explained. “He didn't issue 3000, or even 1800; he did 276 executive orders, but it was the power of those orders. He instituted 560 major regulations classified by the Congressional Budget Office as having 'significant economic or social impacts.' That's 50 percent more regulations than George W. Bush's presidency — and remember, everybody thought he was a fascist."

President Obama blamed an obstructionist Congress for forcing him to bypass the legislative process. By executive order, President Obama decreed the U.S. join the Paris Climate Accord, DACA, the Clean Power Plan and transgender restrooms. He also authorized spying in US citizens through section 702 of FISA, used the IRS to target political opponents and ordered military action in Libya without Congressional permission.

All of these changes were accepted by the very people who now condemn President Trump for his use of executive orders — many of which were issued to annul President Obama's executive orders, just as President Obama annulled President Bush's executive orders when he took office … and therein lies the rub with executive orders.

“That's not the way it's supposed to work, nor would we ever want it to be," said Glenn. “We have to have the Constitution and laws need to originate in Congress."

Watch the video above to find out more.

Six months ago, I alerted readers to the very attractive benefits that the TreasuryDirect program offers to investors who are defensively sitting on cash right now.

Since then, those benefits have continued to improve. Substantially.

Back in November, by holding extremely conservative short-term (i.e., 6-months or less) Treasury bills, TreasuryDirect participants were receiving over 16x more in interest payments vs keeping their cash in a standard bank savings account.

Today, they're now receiving over 30 times more. Without having to worry about the risk of a bank "bail-in" or failure.

So if you're holding cash right now and NOT participating in the TreasuryDirect program, do yourself a favor and read on. If you're going to pass on this opportunity, at least make it an 'eyes-wide-open' decision.

Holding Cash (In Treasurys) Now Beats The Market

There are many prudent reasons to hold cash in today's dangerously overvalued financial markets, as we've frequently touted here at PeakProsperity.com.

Well, there's now one more good reason to add to the list: holding cash in short-term Treasurys is now meeting/beating the dividend returns offered by the stock market:

"Cash Is King" Again - 3-Month Bills Yield More Than Stocks (Zero Hedge)
'Reaching for yield' just got a lot easier...
For the first time since February 2008, three-month Treasury bills now have a yield advantage over the S&P; 500 dividend yield (and dramatically lower risk).
Investors can earn a guaranteed 1.90% by holding the 3-month bills or a risky 1.89% holding the S&P; 500...

The longest period of financial repression in history is coming to an end...

And it would appear TINA is dead as there is now an alternative.

And when you look at the total return (dividends + appreciation) of the market since the start of 2018, stocks have returned only marginally better than 3-month Treasurys. Plus, those scant few extra S&P; points have come with a LOT more risk.

Why take it under such dangerously overvalued conditions?

If You Can't Beat 'Em, Join 'Em

In my June report Less Than Zero: How The Fed Killed Saving, I explained how the Federal Reserve's policy of holding interest rates at record lows has decimated savers. Those who simply want to park money somewhere "safe" can't do so without losing money in real terms.

To drive this point home: back in November, the average interest rate being offered in a US bank savings account was an insutling 0.06%. Six months later, nothing has changed:

(Source

That's virtually the same as getting paid 0%. But it's actually worse than that, because once you take inflation into account, the real return on your savings is markedly negative.

And to really get your blood boiling, note that the Federal Reserve has rasied the federal funds rate it pays banks from 1.16% in November to 1.69% in April. Banks are now making nearly 50% more money on the excess reserves they park at the Fed -- but are they passing any of that free profit along to their depositors? No....

This is why knowing about the TreasuryDirect program is so important. It's a way for individual investors savvy enough to understand the game being played to bend some of its rules to their favor and limit the damage they suffer.

Below is an updated version (using today's rates) of my recap of TreasuryDirect, which enables you to get over 30x more interest on your cash savings than your bank will pay you, with lower risk.

TreasuryDirect

For those not already familiar with it, TreasuryDirect is a service offered by the United States Department of the Treasury that allows individual investors to purchase Treasury securities such as T-Bills, notes and bonds directly from the U.S. government.

You purchase these Treasury securities by linking a TreasuryDirect account to your personal bank account. Once linked, you use your cash savings to purchase T-bills, etc from the US Treasury. When the Treasury securities you've purchased mature or are sold, the proceeds are deposited back into your bank account.

So why buy Treasuries rather than keep your cash savings in a bank? Two main reasons:

  • Much higher return: T-Bills are currently offering an annualized return rate between 1.66-2.04%. Notes and bonds, depending on their duration, are currently offering between 2.6% - 3.1%
  • Extremely low risk: Your bank can change the interest rate on your savings account at any time -- with Treasury bills, your rate of return is locked in at purchase. Funds in a bank are subject to risks such as a bank bail-in or the insolvency of the FDIC depositor protection program -- while at TreasuryDirect, your funds are being held with the US Treasury, the institution with the lowest default risk in the country for reasons I'll explain more in a moment.

Let's look at a quick example. If you parked $100,000 in the average bank savings account for a full year, you would earn $60 in interest. Let's compare this to the current lowest-yielding TreasuryDirect option: continuously rolling that same $100,000 into 4-week T-Bills for a year:

  1. Day 1: Funds are transferred from your bank account to TreasuryDirect to purchase $100,000 face value of 4-week T-Bills at auction yielding 1.68%
  2. Day 28: the T-Bills mature and the Treasury holds the full $100,000 proceeds in your TreasuryDirect account. Since you've set up the auto-reinvestment option, TreasuryDirect then purchases another $100,000 face value of 4-week T-Bills at the next auction.
  3. Days 29-364: the process repeats every 4 weeks
  4. Day 365: assuming the average yield for T-Bills remained at 1.68%, you will have received $1,680 in interest in total throughout the year from the US Treasury.

$1,680 vs $60. That's a 27x difference in return.

And the comparison only improves if you decide to purchase longer duration (13-week or 26-week) bills instead of the 4-week ones:

Repeating the above example for a year using 13-week bills would yield $1,925. Using 26-week bills would yield $2,085. A lot better (34x better!) than $60.

Opportunity Cost & Default Risk

So what are the downsides to using TreasuryDirect? There aren't many.

The biggest one is opportunity cost. While your money is being held in a T-Bill, it's tied up at the US Treasury. If you suddenly need access to those funds, you have to wait until the bill matures.

But T-Bill durations are short. 4 weeks is not a lot of time to have to wait. (If you think the probability is high you may to need to pull money out of savings sooner than that, you shouldn't be considering the TreasuryDirect program.)

Other than that, TreasuryDirect offers an appealing reduction in risk.

If your bank suddenly closes due to a failure, any funds invested in TreasuryDirect are not in your bank account, so are not subject to being confiscated in a bail-in.

Instead, your money is held as a T-Bill, note or bond, which is essentially an obligation of the US Treasury to pay you in full for the face amount. The US Treasury is the single last entity in the country (and quite possibly, the world) that will ever default on its obligations. Why? Because Treasurys are the mechanism by which money is created in the US. Chapter 8 from The Crash Course explains:

As a result, to preserve its ability to print the money it needs to function, the US government will bring its full force and backing to bear in order to ensure confidence in the market for Treasurys.

Meaning: the US government won't squelch on paying you back the money you lent it. If required, it will just print the money it needs to repay you.

So, How To Get Started?

Usage of TreasuryDirect is quite low among investors today. Many are unaware of the program. Others simply haven't tried it out.

And let's be real: it's crazy that we live in a world where a 1.68-2.09% return now qualifies as an exceptionally high yield on savings. A lot of folks just can't get motivated to take action by rates that low. But that doesn't mean that they shouldn't -- money left on the table is money forfeited.

So, if you're interested in learning more about the TreasuryDirect program, start by visiting their website. Like everything operated by the government, it's pretty 'no frills'; but their FAQ page addresses investors' most common questions.

Before you decide whether or not to fund an account there, be sure to discuss the decision with your professional financial advisor to make sure it fits well with your personal financial situation and goals. (If you're having difficulty finding a good one, consider scheduling a free discussion with PeakProsperity.com's endorsed financial advisor -- who has considerable experience managing TreasuryDirect purchases for many of its clients).

In Part 2: A Primer On How To Use TreasuryDirect, we lay out the step-by-step process for opening, funding and transacting within a TreasuryDirect account. We've created it to be a helpful resource for those self-directed individuals potentially interested in increasing their return on their cash savings in this manner.

Yes, we savers are getting completely abused by our government's policies. So there's some poetic justice in using the government's own financing instruments to slightly lessen the sting of the whip.

Click here to read Part 2 of this report (free executive summary, enrollment required for full access)

NOTE: PeakProsperity.com does not have any business relationship with the TreasuryDirect program. Nor is anything in the article above to be taken as an offer of personal financial advice. As mentioned, discuss any decision to participate in TreasuryDirect with your professional financial advisor before taking action.