Glenn Beck talks with Stephen Moore

GLENN: 888-727-BECK, 888-727-BECK. In the free e-mail newsletter, today Newt Gingrich is writing a piece for us on Obama and what is coming. Yesterday I think it was Jonah Goldberg and tomorrow it is Stephen Moore from the Wall Street Journal, one of the head economic editorial writers of the Wall Street Journal. I think -- are you the head guy there? Are you the big cheese, Steve?

MOORE: No, I'm not the big cheese. I'm just a little minor cog in the entire operation but it's a great place to work.

GLENN: Steve is a good friend of the program, a good friend of mine and one of the brighter, more honest economic people that you could ever listen to.

MOORE: By the way, Glenn, I have to say these days I'm almost embarrassed to call myself an economist because of all the quacky things that economists are saying these days.

GLENN: It's absolutely amazing to me, Steve. It is -- they are less accurate than the weather forecasters.

MOORE: And that's hard to -- but, you know, I mean, where in the world, where in the world did this idea come from that if you spend a trillion dollars by the government that that actually stimulates the economy? I've never seen that happen ever in history and, you know, it's almost like the more the government spends, the more jobs we create.

GLENN: But you know who would have more credibility, Steve? I mean, you know who does have more credibility? People like you that said, you know, okay, I don't think this might happen, or I don't think this might happen. But then when it does happen, you go, you know what? It did happen. So now I have to adjust and say, "Okay, then let's not do this." All of these economists, you are one of the few that I know that said, A, these kinds of things could be a possibility if A, B and C happen. And so you at least allowed for the possibility. And then when they did happen you said, "Okay, wait a minute action wait a minute, let's change our thinking here." Everybody else said it could never happen. Then, "My gosh, it's happening! Listen to me! This way out!" And when they're wrong yet again, they still say, "That was the wrong course. Listen to me. I have the answer." They haven't had the answer right yet.

MOORE: I mean, I think all the economists, it's almost as if the higher the credentials of these economists from, you know, Harvard and Yale and Stanford, the worse their economic thinking is. I mean, really I don't know, Glenn, where this idea came from that magically if the government spends money, it's a stimulus. It's almost as if they believe the money just appears out of nowhere and it's just stimulated into the economy but, you know, as my hero Milton freed man taught me, there ain't no such thing as a free lunch. If the government spends a dollar, it has to come from somewhere, has to come from somebody.

GLENN: Ben Steyn, and I love Ben Steyn and I know you do, too. Ben Steyn said to me on TV two days ago, he said, please, Glenn, the government can print money without any repercussions for about two years.

MOORE: Right.

GLENN: Do you believe that?

MOORE: I think they can do it for about maybe six months to a year. The only thing I disagree with them on, on how long it takes. And, you know, you and I talked about this a couple of weeks ago. This is something that every American should be paying attention to and almost no one is. The printing presses at the treasury department, those are going 24/7. They are printing money at such a fast pace that they are literally running out of ink over there and this is the biggest infusion of money creation in the history of America, and I've got -- you know, my basic economic training tells me if you print that amount of money, it's got to cause inflation. And I don't know when that inflation is coming, whether it's going to be six months or a year or two, but, folks, it is coming.

GLENN: Stephen, here, help me out on this puzzle because there's no economist that will actually go down this road with me. So please, will you just go down this road and show me where I'm wrong, okay?

MOORE: Okay. By the way, I have new respect for you as an economist because you called this crisis that we're in before anybody did.

GLENN: But you know what, Stephen? That's because I'm just dumb enough to not know all the rules. I just look at it with common sense.

MOORE: That's right.

GLENN: Okay, so help me out on this.

MOORE: Okay.

GLENN: Okay? We're in a deflationary period now.

MOORE: Yes.

GLENN: What this means, let me just, in common people terms because that's the way I understand it. I'm walking down the street. I see everybody saying they're having 75% off.

MOORE: Right.

GLENN: But I don't go in to buy because I'm a little nervous about what's going to happen to my job, et cetera, et cetera. So then the next week I see 80% off and I'm like, wow, 80% off. But I'm still a little nervous. Then I see 85% off. They're slashing the prices until I finally say, "Well, this is great." But there comes a point to where I say, "Well, wait a minute. If it was 75%, then 80, I might wait until it's 90% because they're getting desperate." And so I don't spend my money necessarily when I can. I spend it when I think they're at the bottom. And that causes the prices just to continue to go down.

MOORE: Right.

GLENN: The reason why, let's just use -- what's a store? Circuit City, let's just say because they are out of business.

MOORE: Yeah.

GLENN: Let's just say Circuit City is doing it because they are healthy, they are not thinking they are going out of business. What they are doing is they are thinking, "I've got to get rid of all of this inventory. I don't want all this inventory there." So they are just dumping all of their inventory out at the lowest possible price. If you take all this money out that you are printing to be loaned and everything else, you've got massive deflation going, you have empty store rooms now with not a lot of product, and you have manufacturing, steel and everything else, closing their doors or taking hiatus or not making so much product. Once that money starts rushing into the system, do you not then have the classic example of too few goods chasing -- being chased by too many dollars? Don't you automatically go from massive deflation to rapid inflation?

MOORE: Yeah, you do. You get an A in economics today because this is what's happening. You summarized it very well. Right now we are in a deflationary period. That's what happens when stores are cutting their prices and that's because they have to clear this inventory. And you are also right that one of the paradoxes of this economy is that as people, as businesses are slashing their prices, people like you and me who are consumers say, "Hmmm, maybe if we wait another couple of weeks, they will slash even more." And so by the way, this is the problem with the housing crisis right now, Glenn, is that, you know, I can speak from firsthand. My wife and I have been in the market to buy a house for about a year but we keep waiting, prices are continuing to fall.

GLENN: Exactly right.

MOORE: Here's where you are exactly right. Because we're printing all this money, right now all these trillions of dollars are being put into the economy but everybody is just sitting on them. It's almost as if collectively Americans are almost literally sticking the dollars underneath their mattress because they are afraid to spend. But what's going to happen is as soon as the economy starts to come out of this, then people start spending again. The velocity of this money is going to start to circulate and you are going to have not hyperinflation like we had in the Seventies but you are going to see inflation back in the 6, 7, 8% range. Prices are going to be rising again.

GLENN: You are kidding yourself.

MOORE: And that will hurt the economy a lot.

GLENN: You are kidding yourself if you are thinking 6% inflation. You are kidding yourself.

MOORE: You may be right.

GLENN: Okay. So --

MOORE: You know, I'm the optimist in this relationship.

GLENN: I know you are, I know you are but you're crazy town.

MOORE: What the market is signaling right now is about 6 -- you know, there's ways of measuring expectations of inflation. And what the market is expecting is about 6 or 7% inflation. But you might be right. We could be in double digits and that's going to be painful because a lot of people like you and I remember what it was like, you know, in the late Seventies when you had, you know, 14, 15% inflation. And that was terrible.

GLENN: Then let me take you to the next step of, let's just say 10% inflation and how you control that. And can you just hang for me a second?

MOORE: Of course, yeah.

GLENN: And just show me where I'm wrong, Stephen, and then I want to talk about what we have in the newsletter today because you've tracked what Obama is saying he's going to do and then what that actually means, and we'll do that next.

(OUT 10:45)

GLENN: 888-727-BECK, 888-727-BECK. Okay, Stephen, two scenarios. You tell me where I'm wrong or give me hope here, okay?

MOORE: I'm here.

GLENN: Deflation -- Stephen Moore, by the way, lead editorial writer for the Wall Street Journal on the economy and general all-around smart guy. Deflation, let's say deflation -- let's say we don't come out of it right away and deflation just keeps going down and down and down. Do you see our government, do you see the people that we are putting in charge now as people that would repeat what we did in the Great Depression and say price controls?

MOORE: I think they do. I mean, remember what happened in the Great Depression is we had the New Deal which was just a massive expansion of government spending for almost a decade where we doubled the size of government in our economy and it didn't work. This is one of the great myths of modern sometimes is that the New Deal was a success. But by 1940, Glenn.

GLENN: We knew.

MOORE: Ten years after the new deal had started, the unemployment rate in the United States was 15%.

GLENN: But we have the rest of the world -- if we put price controls on --

MOORE: Right.

GLENN: And we start going in, because there will be calls. You watch, there will be people who will say, we're losing jobs in America; we've got to protect jobs. And there will be, at some point the politicians will have to say, we've got to protect these jobs. You go price controls and protectionism, then the whole thing spirals out.


MOORE: That's right.

GLENN: Right?

MOORE: Right, that's what happened in the 1970s.

GLENN: The next thing is let's just say that inflation, deflation goes and what we talked about earlier. Then it spikes up and it goes into inflation because the engine starts moving again. To curb inflation, it is my understanding, you have to take the interest rates and the Fed needs to turn the valve the other way.

MOORE: Yes.

GLENN: And do the opposite of what we're doing now.

MOORE: Right.

GLENN: And you need to do an equal number of turns on that valve.

MOORE: That's right.

GLENN: In the other direction.

MOORE: Yeah.

GLENN: So America, think about what we've done to our money supply system.

MOORE: Right.

GLENN: We're going to have to do an equal amount in the other direction.

MOORE: Yeah.

GLENN: To be able to get inflation back under control. How do you, how do you think this works out when you have the Fed and all of the people that have caused this problem and also all of the people who we don't trust now because they don't have any solutions to turn that valve and make a manmade liquidity problem as people that would hurt companies, investments, that would hurt people hiring, et cetera, et cetera, and the people who are running it are no longer the market because we have national banks and everything else, it's no longer the market deciding but the government. How do you see that ending, Stephen?

MOORE: Not very well. That's why I wrote the book The End of Prosperity because I don't think that those policies are going to lead to anything but a severe recession, which we're in right now. You know, by the way, Glenn, I don't know if you saw what happened this week in Britain, but Britain has essentially nationalized its banking system.

GLENN: I think that's what --

MOORE: This is a scary thing, folks, because the reason that the financial stocks have gone down so much, they plunged yesterday, investors around the country are worried that we're going to nationalize our banks.

GLENN: We're going to. You know it and I know it.

MOORE: I know. It's a scary thing. But here's the point. I want to make this very clear. What everything the government is doing right now is exactly the wrong thing. It's exactly the wrong thing. I really believe, Glenn, if the government would just stop doing anything, if congress would just stop passing laws, no new bailouts, no new stimulus plan, no more debt, no more money creation, I believe within nine months or so we could get out of this, the weak would die, the strong would survive, the process, but then we would go back to growth. But they are not going to let that happen, Glenn.

GLENN: No, they can't.

MOORE: They are going to spend money, they are going to print money, they are going to do $2 trillion of debt in this single year. I mean, again --

GLENN: Do you remember, Stephen, do you remember six months ago you said to me, "You watch, Glenn, they're going to -- it will be a trillion dollars of debt."

MOORE: I was wrong.

GLENN: We're now looking at $2 trillion.

MOORE: It's $2 trillion.

GLENN: Amazing.

MOORE: I mean, we're going to borrow -- hang onto your socks, folks. We're going to borrow more money in 2009 than we did collectively for our first 200 years as a nation.

GLENN: Okay. And that's amazing because that includes the -- does that include the Reagan?

MOORE: No, that's to 1976 but that includes World War II, World War I, the Civil War, the Revolutionary War.

GLENN: Unbelievable.

MOORE: All the debt for 200 years doesn't amount to as much as we're going to borrow in one single year this year.

GLENN: Okay, The End of Prosperity by Stephen Moore. Quickly, Stephen, because now I'm running out of time. I want to ask you, the newsletter, give me the big thing out of the newsletter. Give me the top thing that you think Obama has promised to do and what it means.

MOORE: Well, we've got the trillion dollar, quote, stimulus bill which I call a destimulus which will increase the debt by another trillion dollars. Then we're going to have the union card check issue which gets away from the secret ballot and union. Then we're going to have --

GLENN: Do you believe that actually --

MOORE: What?

GLENN: Do you believe that actually passes, the card check? Do you believe that actually goes through?

MOORE: As I said in your newsletter I think it's 50/50 right now because you know why, Glenn? The Democrats who run every lever of power right now in Washington, they are totally beholden to the unions. If the unions spent $400 million to get these people elected, they want payback.

GLENN: What does that mean to business?

MOORE: To business?

GLENN: Yeah.

MOORE: Oh, it means every small business is going to be under assault from union organizers who are going to come in. And by the way, folks, if you have unions come in and force unions on businesses, you're going to have a lot of businesses go out of business and, folks, you can't have jobs without employers.

GLENN: The End of Prosperity by Stephen Moore and this article he's talking about was written for the newsletter. It's a free newsletter available today at GlennBeck.com. Stephen, talk to you again.

Chances are, you've noticed that many large companies have decided to become woke activists, despite the fact that alienating half your customer base is a terrible business strategy.

This woke shift isn't being driven by the usual market forces. It's the Great Reset's ESG score system at work, Glenn Beck said on "GlennTV." Under the “environmental, social, and governance” score system, companies will no longer make decisions based on what you, the consumer, want. Now, it's all about what those in power deem society should want. And it's not just businesses that are affected, he explained.

Watch the video clip below or find the full episode of "GlennTV" here:


Want more from Glenn Beck?

To enjoy more of Glenn’s masterful storytelling, thought-provoking analysis and uncanny ability to make sense of the chaos, subscribe to BlazeTV — the largest multi-platform network of voices who love America, defend the Constitution, and live the American dream.

11 things you can do to help stop the Great Reset

Photo by Arthur Franklin on Unsplash

The foundation of the American way of life is freedom from tyranny, which can only exist in a nation that defends the rights, powers, and property of individuals and families. Over the past two centuries, the greatest threats to liberty have come from governments, both foreign and domestic. And from the beaches of Normandy to the civil rights movement of the 1960s, Americans have repeatedly conquered the challenges placed before them by those seeking to extinguish or limit individual rights.

However, over the past few years, a new, potentially catastrophic danger has emerged, but not primarily from the halls of Congress or state capitols. This threat to freedom has largely emanated from the board rooms of the world’s wealthiest, most powerful corporations, large financial institutions, central banks, and international organizations such as the United Nations and World Economic Forum.

In an attempt to secure vast amounts of wealth and influence over society, corporate CEOs, bankers, and investors, working closely with key government officials, have launched a unified effort to impose environmental, social, and governance (ESG) standards on most of the industrialized global economy. ESG standards are also referred to as “sustainable investment” or “stakeholder capitalism.” According to a report by KPMG, thousands of companies, located in more than 50 countries, already have ESG systems in place, including 82 percent of large companies in the United States.

ESG standards are designed to create a “great reset of capitalism” and to “revamp all aspects of our societies and economies, from education to social contracts and working conditions.” ESG supporters plan to enact these radical changes by using ESG schemes to alter how businesses and investments are evaluated, so that instead of focusing on the quality of goods and services, profits, and other traditional economic metrics, companies — including financial institutions — are evaluated largely on their commitment to social justice and environmental causes and then assigned scores so that companies can be compared, rewarded, or potentially punished.

Supporters of the movement for a Great Reset also plan on using technology to limit free speech and privacy rights, and they support creating vast new government programs that are designed to transform the Western economy via the Green New Deal, European Green Deal, a federal jobs guarantee, and basic income programs.

Together, the proposals that make up the Great Reset represent the most serious threat to freedom in the West since the fall of the Soviet Union and perhaps since World War II. But there is hope. We can stop the Great Reset, but only if we act quickly and with great conviction.

Below are 11 steps you can take to push back against the Great Reset. These steps represent a powerful bottom-up, grassroots approach to the Great Reset’s top-down plan to remake the world. Although many of these steps won’t be easy for everyone to take, they are essential for ensuring that our children and grandchildren will grow up in a world that protects the rights of individuals and empowers families, rather than wealthy special interests, financial institutions, and large corporations.

1. Live Not by Lies: The time for remaining quiet is over. When you hear or see something that you know to be false, speak up. Be kind, generous, and compassionate, but do not, under any circumstances, allow lies to infect your life. Further, do not support organizations, publications, politicians, schools, or any other institutions that regularly promote false claims.

2. Buy Local: The reason the Great Reset is so powerful is because so many of us have become totally dependent on large multinational corporations. They can be easily manipulated in a way that small, local businesses cannot. Learn to buy local, whenever possible, even if it means spending more money on your purchases. Yes, big corporations offer conveniences and low prices that many small businesses can’t compete with, but those benefits come with a great cost: your freedom.

3. Bank Local: Big financial institutions and banks are driving much of the Great Reset movement. They have started to use their incredible wealth and power to alter society by financing only those businesses who agree to the terms of the Great Reset. This problem is going to get worse, so it’s important to find local banks and credit unions you can trust and who refuse to utilize ESG scores and other discriminatory schemes.

4. Support Local Farms: If you live in an area that has local farms and farmer’s markets, consider buying as many of your groceries as possible from farmers. In the future, food production and distribution are going to change dramatically. It’s important that you support local farmers and build relationships with individuals who can provide you with the goods you need in a time of crisis. One of our main goals must be to make local communities as self-sufficient as possible, and that cannot happen unless we support local farms.

5. Be Vocal: After starting to shop and bank locally, be sure to tell big financial institutions and corporations why they have lost your business. They need to know that their decisions have serious consequences.

6. Run for Local Government: Local and state governments will soon be our most important defense against the Great Reset. Consider running for your local school board, zoning board, or even for a state legislative office. If you don’t feel qualified for these positions, find someone who shares your values and help them run for office. If we don’t have control of our local governments, we won’t be able to halt the Great Reset.

7. Demand That Your State Pass Laws Against ESG Scores: In America, states have a tremendous amount of power to slow the Great Reset and protect their citizens from abuses by large corporations, banks, and international institutions. They can do this by passing laws that make the use of ESG metrics and other, similar systems by financial institutions illegal, when used as a precondition for banking services, financing, investment, etc. ESG scores are, by definition, discriminatory and should be made illegal by state lawmakers who care about protecting their citizens’ rights.

8. Make Responsible Spending a Key Issue for Politicians: In recent years, politicians on the ideological left and right have totally abandoned responsible fiscal policy in favor of vast money printing and loose monetary policies. The many trillions of dollars that have been “printed” in recent years put our economy at risk and are being used to fuel the Great Reset. Without these trillions of dollars of printed money, it would be exceptionally difficult for governments and financial institutions to buy off corporations.

9. Organize Anti-Great Reset Groups: No matter where you live, there are Americans in your community who do not support the Great Reset — Republicans, Democrats, and independents alike. Find like-minded neighbors and organize a local, peaceful resistance. Find people you can trust and agree to support one another when times get tough. Now, more than ever, we need to develop dependable communities.

10. Buy Property and Diversify: Property ownership is going to become increasingly more difficult in the months and years to come. It’s important that you work with a qualified financial adviser to help you figure out the best way to buy property and diversify your investments. Buying hard assets, including real estate and precious metals, could be a good way for you to protect against the Great Reset and a possible financial collapse. If you already own property, resist selling it to large corporations and financial institutions, whenever possible. (This is not financial advice, and I’m not a financial adviser. Talk to an expert you trust before taking action!)

11. Make the Great Reset a Litmus Test for Politicians: Before supporting politicians, find out if they know what the Great Reset is and what they plan to do to stop it. If they aren’t familiar with the Great Reset or don’t have a plan to halt it, then demand that they learn about the Great Reset and develop a proposal to prevent it. Political leaders who refuse to take the Great Reset seriously do not deserve your support. This is the key issue of our generation.

Scott Quiner was transferred over the weekend to a hospital in Texas after doctors in Minnesota threated to terminate life support measures as he battled severe complications from COVID-19. Scott's wife, Anne Quiner, appealed to the courts for a restraining order to prevent the hospital from pulling the plug as she sought a new facility to provide medical care for her husband. Scott was unvaccinated when he tested positive for COVID-19 in late October, 2021.

Anne and her attorney Marjorie Holsten joined "The Glenn Beck Program" Thursday to describe their frantic efforts to halt the hospital's decision to turn off Scott's life support — allegedly because he was unvaccinated — and just how difficult it was to get him the medical treatment he needed.

"It was absolutely stunning," Holsten told Glenn. "[Anne] came in and she has this order, I saw the screenshot from the [online medical] chart that said [Scott] is basically scheduled for execution at noon the following day."

According to Holsten, the Minnesota hospital responded to her appeal for a restraining order by claiming that the "position" to keep Scott alive "is not supported by medical science or Minnesota law. As a result, Mercy will ask the court to issue an order that Mercy has the authority to discontinue Mr. Quiner's ventilator and proceed with his medical care plan."

"The 'medical care plan' was the plan to discontinue the ventilator at noon, which leads to death very shortly. So that was at 10 o'clock, but then at 11 o'clock, before the 12 o'clock execution, the judge did, in fact, sign an order saying the hospital is restrained from pulling the plug," she added.

Anne told Glenn that doctors in Texas were shocked by Scott's condition after he arrived from the Minnesota hospital. Not only had he been given dangerous drugs, he was also found to be “severely malnourished."

"The doctor [in Texas] spent two hours with Scott and when he came back out, he said, 'I don't know how he even made it, how he even survived that other hospital ... but I will do everything I can to try to save his life,'" Anne explained.

"And the doctor [in Texas] said Scott was the most undernourished patient he has ever seen," Holsten added.

"Glenn, we are first bringing this battle to the court of public opinion," Holsten continued. "What we are showing the world is that Scott was near death because of the protocols used in that [Minnesota] hospital, but now he is recovering. He is getting better.... Now, we're not planning a funeral, we're planning for his release."

Watch the video clip below for more details.

If you'd like to help support the Quiner family, please consider making a donation to GiveSendGo.com/Anne.


Want more from Glenn Beck?

To enjoy more of Glenn’s masterful storytelling, thought-provoking analysis and uncanny ability to make sense of the chaos, subscribe to BlazeTV — the largest multi-platform network of voices who love America, defend the Constitution and live the American dream.

The Great Reset is not just an elitist idea — it’s not even a socialist utopian concept. It’s a real-world fascist threat to every American from Wall Street to Main Street. It’s happening now in policies and cultural shifts big and small, obvious and subtle, from environmental promises to corporations going woke. But the mainstream media, global elites, and politicians brushed off the Great Reset as “nothing to see here.” Another myth they push: “The World Economic Forum is just a conference for elites who have no REAL power.”

Glenn Beck first exposed the Great Reset almost two years ago, and the globalist cries of "conspiracy theorist" soon followed. They said he believed the WEF was a “master cabal calling the shots from some evil underground lair.” But Glenn Beck never said that. Instead, he uncovered the true intentions of global leaders in finance and politics by simply highlighting their own words.

This week, the same global elites are doubling down on their agenda at the World Economic Forum’s Davos Agenda virtual event. But still, the global elites — like Twitter’s Jack Dorsey — are trying to downplay the WEF’s influence to stop people like us from interfering with their plans. The oligarchy will prosper in the new world order they’ve designed. You will not.

So Glenn unveils a master chalkboard based on his best-selling new book to outline the threats from globalists and why we must stop their agenda if we hope to keep the precious freedoms we still have.

Watch the full episode of "GlennTV' Below:

Want more from Glenn Beck?

To enjoy more of Glenn’s masterful storytelling, thought-provoking analysis and uncanny ability to make sense of the chaos, subscribe to BlazeTV — the largest multi-platform network of voices who love America, defend the Constitution and live the American dream.