Glenn Beck: Leadership and crisis



Leadership and Crisis


by Bobby Jindal

GLENN: Bobby Jindal is the governor of Louisiana. I know Bobby slightly. I mean, it's not like we're palling around or anything, but I've met him a couple of sometimes and I really like this guy. I think he is not your typical politician which is, thank God for that. He is he's a frank speaker, I think, and understands small government. He's got a new book out called Leadership and Crisis, and there's just, there's a couple of things in here that I wanted to get him on the phone and talk to him about. Bobby, welcome to the program.

GOVERNOR JINDAL: Glenn, thank you so much for having me on your show. It was great seeing you in New York last week.

GLENN: Was that in New York? Where did we see each other?

GOVERNOR JINDAL: We were actually, you were coming out of an office in New York. It was just a pure coincidence. You and I had the privilege of first meeting.

GLENN: Oh, that's right.

GOVERNOR JINDAL: You were giving the keynote speech at the NRA over in Kentucky and I loved you back I've been on your show before on other stations but it's great to be on your radio show. I wanted to tell you, by the way, I've been keeping up. I looked at your new website, TheBlaze.com. Thought you had some wonderful anybody that hasn't looked at it, some wonderful insight to this whole TSA mess and controversy. I mean, if I was a parent of some of those children going through what they are going through, I tell you it just shows how crazy, how crazy the world we live in is today.

GLENN: You know, Bobby, what should we do on that? Because first of all, there's something wrong with this story. We're being presented false options here and, you know, to be more secure, we have to let some, you know, some, you know, 40, 50 year old guy fondle my son and his junk and that's not going to happen. Otherwise I have to put my wife and my daughters through scanners that can see absolutely everything, can capture, can save, and can send those images. I mean, neither of those are good options. What should we be doing?

GOVERNOR JINDAL: Glenn, you are exactly right. And look, I know you and I both agree that we don't want to take the threat, you know, casually but here are two fundamental mistakes I think this administration has made. Number one, they are so focused on treating terrorists like citizens and citizens like suspects.



Glenn Beck is seen here on GlennBeck.TV, a feature available exclusively to Glenn Beck Insider Extreme members. Learn more...


GLENN: Yep.

GOVERNOR JINDAL: They worry so much about the rights of the terrorists. Where are the rights for the average American? They need to move away from political correctness. You and I both know there's no reason for them to be groping that 6 year old, that 5 year old, that 10 year old that's traveling to their grandparents' house going for Thanksgiving, going home to see their family. There's no reason. The only reason is political correctness. Why not focus our resources on those that we know that we suspect are really posing a real danger to us. But here's the second mistake they have made. They continue to try to respond to this terrorist threat where they befriend imposter. Well, we got lucky with the underwear bomber, we got lucky with the Times Square bomber. We got lucky with the packages. Luck is not a strategy. This president and I have a whole part in the book about the war on terrorism. My concern is this president, he believes if he apologizes for America, he believes that if we're not offensive to our enemies, we believe, you know, if we show that we're not only an ally to Israel, he believes somehow we can make these terrorists less anger, he believes that this is something about social justice but just have more of our money and economic development overseas. Nonsense. This is a clash of fundamental values. This is a group of people that hates our way of life, hates our liberties. They don't want land, they don't want money. They don't want appeasement.

GLENN: Are you talking about the are you talking about the terrorists or are you talking about the Obama administration now?

GOVERNOR JINDAL: Glenn, the Obama administration is an affront to the war on terror. You know, it is a good thing certainly that we Harden our infrastructure but we can go to absurd lengths if we don't understand the conflict we're in. You know, I mean no apologies for the fact that America is an exceptional country. What amazes me is when the president would ask about American exceptionalism, he responded along what other people thought of their countries. When he was asked now remember, he was talking about being a citizen of the world. I don't even know what that means. The reality is the world needs America to be stronger. That leads to a more secure world. We have saved the world. Now we're on the third fundamental, just in the last 50 years, the first time that we saved the world in World War II from fascism, we saved the world during the Cold War thanks to President Reagan from communism. Now we are past again, we're now, we have allies. We have other freedom loving countries join with us. But make no mistake about it. America carried the burden, America led the fight and we're called again to lead the fight. And what worries me with this current battle with these terrorists, what worries me is that if we don't understand the conflict we're in and President Reagan understand we were fighting an evil empire in the Cold War. They just didn't want to call it that, the academics didn't want to call it that. Let's not gloss over the conflict we're facing right now with these Islamic fundamentalist terrorisms and, you know, the Homeland Security department, they want to call these manmade events. You are not supposed to say Islamic in front of terrorists. Let's call it what it is. That's the only way. If we don't identify this enemy appropriately, it's the only way we can win this war.

GLENN: Well, do you think that it's possible that the president has just misunderstood when he said, you know, when somebody said we don't check any packages, now he he just wants to check everybody's package.

GOVERNOR JINDAL: (Laughing).

GLENN: I'm just sayin'.

GOVERNOR JINDAL: Glenn, you know, what's amazing is they don't get it. This administration is so disconnected from the facts on the ground.

GLENN: May I take you here, Page 20, Leadership and Crisis the book, just want to read a excuse me, I don't know why the scary music started. Here it is: The White House certainly knew that the moratorium could cost thousands of jobs.

You're talking about the moratorium on drilling because of the oil spill. The White House certainly knew that the moratorium could cost thousands of jobs and they went ahead anyway. When I raised concerns about a moratorium with President Obama, he assumed that I was simply parroting these words because I was supposed to say them. Quote: I understand we need to say all of this. I know you need to say this, that you're facing political pressure, he said. He didn't seem to understand that for us in Louisiana, this was the reality on the ground. This was about people losing their jobs. He responded by saying that the national polls indicate that people supported the ban. The human element seemed invisible to this White House. That seems to be that they have contempt for the American people or they're blind to the actual American people. Comments?

GOVERNOR JINDAL: You saw that with the election a couple of weeks ago. The American people said we want smaller government, less taxes, less spending, and the president's response is this rejection of ObamaCare and the $14 trillion of debt. He said it was a communications problem. He said he just hadn't given us enough speeches. You read between the lines and basically he's condescending, speaking down to the American voters and the American people saying you people just don't understand all the great things I've been trying to do for you. If I would just give more speeches, maybe you would understand and you would vote Nancy Pelosi back in as speaker. We saw during the oil spill and the moratorium as well, at one point he actually told me, don't worry, Governor, your workers can get a BP check. I don't think BP has given them a check for this moratorium and he said, well, don't worry, they can get an unemployment check and there's a disconnect.

GLENN: Oh, my gosh.

PAT: Wow. Unbelievable.

GOVERNOR JINDAL: They want to go back to work.

PAT: Governor Jindal, did I hear that I also said something to the effect that you better make you better not make it sound like he didn't care about people? Did he say something along those lines to you?

GOVERNOR JINDAL: You know, the two interactions that were surreal to me, the second time that he came to the state after the oil spill, he ended his meeting by basically telling me and the Plaquemines Parish that he didn't want to see them go on TV to criticize them. He said he didn't want to see us on CNN. So I'm assuming, Glenn, we can go on other channels, Fox and criticize them. Apparently, Glenn, he was frustrated that we were going on TV to criticize them. His first visit, the very first time he comes to Louisiana after the oil spill, he pulls me aside during a publicity stunt and I can understand if he was angry about the bureaucratic response to the oil spill, the walk of life, Glenn, I would have understood that, it would have made sense to me. He was angry about a bureaucratic letter about food stamps. He said, careful, this is going to get bad for all of us. But you got a White House, a president that seemed more worried about perception and politics. In the book Leadership and Crisis, got all kinds of red tape and bureaucracy that I didn't move quickly.

GLENN: Bobby, you watch the TV show enough to have a handle on what I believe is going on in this White House?

GOVERNOR JINDAL: I do.

GLENN: Do you think I'm do you think I'm wrong on who these people are and what their agenda really is?

GOVERNOR JINDAL: Glenn, I think what scares me, in reading this book is I don't think that you know, two things. One, I don't think they share our belief that the Founding Fathers intended a limited government. I think they are trying to institute a permanently larger, more extensive government that's more intrusive with higher taxes, higher spending. The second reason is that I believe the American dream, I do believe in my bones we live in the greatest country in the history of the world but I also believe we could become the first generation that leaves fewer opportunities for our children if we're not careful. You know, we're at a tipping point. $14 trillion going to $26 trillion. 18% of GDP historically is what they spend, now they are up to 24. They want to go to 26%.

GLENN: Oh, my gosh.

JINDAL: Make no mistake about it. I don't think the president I think he's a smart man. I think they know what they're doing.

GLENN: They do.

JINDAL: But what also worries me is they're not surrounded by people who have worked in the private sector. And as a result I think they have got a lot of people that have Nobel Prizes, Ph.D.s, book smarts but they don't they aren't surrounded by people who have actually created jobs in the private sector. He described as one job in the private sector as like being an enemy being a spy behind enemy lines. It worries me when the president describes the private sector, he describes the private sector as the enemy. That's not what you want to hear coming out of the White House.

GLENN: Bobby, so what is the what is the solution here? Because I think people are, at least this audience is awake. And they are saying, okay, so then what? What do we do? And I don't think that it is a political solution. What is the solution in your view?

GOVERNOR JINDAL: Well, Glenn, two things. I've got a whole chapter in the book saying it's the culture, stupid. Basically saying that it's not about you know, what makes America great is not just our economy, our military, it's not just our democracy, all the great things, but it is the culture. The Founding Fathers understood, this American experiment, what made this so exceptional is grounded in a moral, virtuous, religious foundation. We must not lose that culture. That's what's at risk here but I also have in chapter in terms of structural changes, we've got to make the congress because it's not just electing a new group. It's about a balanced budget amendment in the Constitution, it's about a 2/3 vote before they raise our taxes, line item veto, get rid or earmarks. But here's the most radical idea. And we used to pay farmers not to grow crops. Let's pay members of congress not to come to D.C. Let's make them a part time congress like the Founding Fathers intended. Let's make sure they have jobs in the private sector. Let's give them term limits, don't let them be lobbyists. If they have to live under the same rules we do, maybe you'd see more common sense, get rid of the permanent elite political governing class. And if you did that that's what the founding fathers intended. They had to go home and be farmers, they had to go home and be small businessmen, they had to go home and work in their factories and their shops instead of thinking their future is to go to work for some lobbying firm in Washington D.C., full time legislators spend more of our money. Mark Twain was right. Our wallets, our freedoms are safest when the legislature is not in session. This is the most fundamental truth and I know you've articulated this so many times. If we could just I thought if there's one thought I was trying to get across in leadership and crisis is this: The more money they spend, the more they tax, the more they borrow, the more they regulate, the less freedom we as the American people have. It is a zero sum game and if we can continue to help educate people at what's at stake here, when you're talking about a trillion dollar healthcare expansion bill, what's at stake is our freedoms and our liberties, that's what's at stake. That's what the message from the election was a couple of weeks ago and what worries me is Nancy Pelosi, Harry Reid, President Obama, they are just doubling down. They think it's a communications issue. They think they just need to do a better job talking to us. They don't realize that there's a fundamental shift happening in our country.

GLENN: All right, Bobby Jindal. The name of the book is Leadership in Crisis. Bobby, I'll have to send you the copy of my book Broke because one of the solutions in there, we're in exactly the same page. Get these people out of Washington. Get them out of Washington and do what even Texas does.

Real quick I'm coming down to Louisiana, I'm coming to New Orleans to do the first show I've ever done in New Orleans. I'm doing it with Bill O'Reilly, when is that, the 6th? Is that next weekend, I think? I'm going to be down in New Orleans and I know this is the home of SEIU and ACORN. Do I need extra security, Bobby?

GOVERNOR JINDAL: If you do, I'll be happy to provide it, again no limitation, for dinner with my wife and I. We would love to see you. We'll come down

GLENN: Well, my wife is coming. We'll talk off line because my wife is coming as well and she's never been to New Orleans. So I'd love to see if you're around. I think it's December 3rd Bill and I are there.

GOVERNOR JINDAL: And don't judge Louisiana by ACORN. We've got a bunch of God fearing, wonderful, patriotic red, white and blue Americans. We have sent just to give you an idea we have 3,000 Louisiana national guardsmen in Iraq this year out of the 50,000 troops still there in August. We've got some incredible, incredible patriotic Americans in Louisiana. You are going to be very, very well received. So don't judge us by ACORN.

GLENN: I won't. Bobby, thank you so much. We'll talk to you again. Governor Bobby Jindal.

Where am I going to be, Lakefront Arena?

STU: Yes.

GLENN: Lakefront Arena with Bill O'Reilly for the Bold Fresh Tour.

STU: Yeah, Friday, December 3rd, 8:00 p.m. and then Dallas on Saturday, December 4th.

GLENN: I think there's two shows. One's already sold out in Dallas and the other one is almost sold out, I think.

STU: Yeah, 2:00 p.m. and 8:00 p.m. shows at Music Hall at Fairpark.

GLENN: Yeah. Music hall, I think I've played there before. It's a great theater.

Glenn created "The Senate Fails to Condemn INFANTICIDE" in response to the Senate not passing Nebraska Senator Ben Sasses' bill banning infanticide early this year. In an effort to help support pro-life charities, Glenn first posted this for sale on eBay before being banned multiple times before we finally had enough and put it up for sale on bidpal.net.

At the time of this post, the bid was up to $4,700 — but we can do better than that. Please help us raise money for a good cause, you don't even have to display it anywhere in your home, you can just keep it in storage or something! If you want this priceless piece created by one of the most influential people in the world of art, place your bids here.

Can you remember the economic crisis of 2008 and how you felt when the news broke that Lehman Brothers had collapsed? I have found an economic threat that everyone needs to be aware of, so you can prepare yourself in case we see another 2008 type collapse. I am going to present the evidence to you and I urge you to verify everything and to form your own opinion.

What is that threat?

It is a bank called Deutsche Bank. They are by far the most dominant bank in Germany which is the world's fourth-largest economy. In 2018 they had €2.08 Trillion worth of assets and the second-placed bank (DZ Bank) had €506 Billion worth of assets. To show you how dominant this bank is, they have more assets than the 2nd, 3rd, 4th, 5th and 6th sized banks combined.
When we review a business there are three key parts to analysis:

  • Market sentiment
  • Business numbers
  • Technical Analysis

Market Sentiment

Deutsche Bank has a long history of potential scandals including going all the way back to World War 2 and dealing in Nazi gold. Below are five recent stories which have increased the negative sentiment around Deutsche Bank.

  1. In 2007, they purchased a portfolio of loans worth $7.8 billion and purchased insurance from Warren Buffets Company. It was discovered they did not set aside enough capital to cover any potential losses. Over the course of the ten years, they lost $1.6 billion, and when they sold the loan they did not update their financial statements to include the big loss
  2. The Panama Papers are an ongoing investigation looking for many things including offshore tax havens. These investigations have resulted in several heads of state resigning including in Iceland and Pakistan. Last November, 170 police raided 6 different offices in Frankfurt looking for evidence of money laundering.
  3. Estonia is a small country in Eastern Europe. It has a population of 1.3 million people and a GDP of €26 billion. In January, it was discovered Deutsche Bank got involved with a Danish bank called Danke Bank and processed over $230 billion worth of cross country payments (including from Soviet Russia) through one bank in Estonia.
  4. There have been rumors of issues with Deutsche for a while now and one of the solutions put forth was a merger with a bank called CommerzBank. The leaders of both companies met and they even got support from politicians. In April, news broke that the merger talks had failed because over worries the risks and costs would be too great.
  5. Last week in France, Investment banking boss Garth Ritchie and others were arrested in France over illicit tax transactions.

Business Numbers

Deutsche Bank is already struggling as they are losing staff, losing market share, and bonuses are expected to be down at least 10% and further rounds of cost-cutting to come. Now imagine the impact if business costs start going up.

The banking industry works in a very simple way. They raise funds through large bonds at low-interest rates and then sell those funds to business and individuals thru products like loans and credit cards at a higher interest rate which results in a potential profit.

Earlier this year, Deutsche Bank tried raising money through several bonds. They paid 180bp (basis points) on a two-year bond and 230bp on a seven-year bond. Let me put this in context for you. There is a small bank in Spain called Caixabank which paid 225bp on a five-year bond and one of the larger banks in Spain, BBVA paid 130bp on a five-year bond.

  • How and why is a small bank in Spain getting a better deal on bonds than a huge bank in Germany?
  • Why is a large bank in Spain getting a bond 100bp cheaper than a German bank?
  • What does the market know that we do not?

Stock Price

Deutsche is also missing revenue projections which further hurt the business ability to survive and prosper. As you can imagine all of this news has a deep and lasting impact on its stock price which is in deep trouble. Before I share the stock price, I need to put this into the context of the market and the industry compared to the big economic crash of 2008. Below you will see a chart of some banking stocks from around the world with their peak price prior to the 2008 crash, the low of the 2008 recession and the price today:

As you can see from the above chart the banks in America have recovered from the 2008 recession by anywhere up 375% and JP Morgan has not only recovered its price in full but is constantly setting new high's. Ireland went bankrupt and had to be bailed out by the EU/IMF following the 2008 crash and even our national bank has more than doubled its price since 2008. The worst performing bank I could find was Societe Generale which has issues but is still hovering around its 2008 low price levels.

Now let's put that into the context of Deutsche Bank. Not only has the stock not rebounded but it is over 65% below its 2008 low at $6.75.

Technical Analysis

When you are dealing with the stock market, you also have people who study pricing through technical analysis. Experts look at things like FIB sequences, trend lines, and support levels. Support levels are a key metric for a stock failing because are looking to find where it will find support and potentially bounce higher.

We are very close to a key support level ($6.40) and if the price goes below this level, there is no saying exactly how low the price could go. At least one company expects Deutsche to fall below this support level, as several weeks ago UBS downgraded the stock to a sell order. This news was compounded last Friday when rating agency Fitch, downgraded their credit rating to BBB or two levels above JUNK status.

Other Information

I know you are likely reading this and thinking "this bank must have smart people in charge and surely they have a plan, right?" I am sure there is a plan and while they have kept their cards close to their chest, they have spoken in the past about the areas they foresee having growth for the company – they include business in Saudi Arabia, UAE, and Egypt. Do they strike you as countries which are stable and will offer steady and reliable growth? Do you have to think really hard to imagine how this could go potentially very wrong?

Questions

I believe there is at least a solid case Deutsche is in a LOT of trouble. So what are possible scenarios for the future? I will lay out the key questions below but I must stress that it's impossible to say for sure what exactly will happen. One of the key numbers to remember here is they have roughly €50 billion worth of derivatives.

  • How likely is it that the bank can turn things around and survive?
  • How likely is it the bank continues to run into trouble, its stock price fails and eventually fails?
  • If you think it is likely it will fail, the question becomes what will the fallout be? Who will be affected?
  • Will they be bailed out?
  • If so, by whom? The German government, ECB, IMF, the Federal Reserve?
  • What will the German government think? Some members recently spoke out saying they would block public money for the proposed merger? Will they block funds if it failed?
  • Will other banks be exposed and affected? Will they have to take losses?
  • Will those losses be spread around or will one or more bank be mainly affect?
  • Will this affect the sentiment of the banking sector and cause a panic?
  • If there are issues and it starts affecting the stock prices, what will be the impact on other industries?

Last Question

The last question revolves solely around the banks and the regulators? How secure are the other banks? We all hear about how banks are now put through "stress tests" but how much trust do you put in those results? How much trust do you have in the regulators?

I know this may make me sound like a conspiracy theorist to some but it's an honest question. The Fed is on public record saying they want to keep this economy strong as long as possible. If a bank did not perform strongly in a stress test or even barely failed one, do you think they would report it?

Can you imagine the pressure that body would come under to stay silent? Can you imagine the rhetoric they would face with questions like, "Are you really going to fail one bank? Do you know how many people will lose their jobs if you do that?" Am I saying this is happening? No, but can you really rule it out 100% as a possibility?

I urge you to ponder on these questions, do your own research and find YOUR answers.

Update: The most freaquently asked question I have received from this column / show is how much time do we have to prepare. This is an impossible question to answer, as it could fail tomorrow, next week or might be next year. However I want to provide you a potential date for your diary – July 24th. That is when Deutsche will release their next earnings report and if it comes in below expectations, it could cause a further drop in price casting more doubt over the future viability of the bank.

Please support Jonathon's weekly podcast which is exclusive to the Blaze Media and available for FREE. He offers a unique perspective by promoting America's Founding Principles and brings every issue back to a set of core principles which are always based around the laws of nature. You can find links to his show by clicking here or by searching for Freedoms Disciple on your favorite audio platform.

Survey: Where do you stand on these conspiracy theories?

Thought Catalog / Unsplash

Have you seen this survey on the most-believed conspiracy theories in America?

It's no surprise the survey has been getting so much attention. The results are actually a pretty disturbing.

Infographic: Belief in Conspiracy Theories in the United States | Statista

I decided to put together a quick survey of my own, with slightly different wording.

Up-vote the ones you agree with and down-vote the ones you disagree with.

I believe Lee Harvey Oswald killed JFK alone. However, I would not be surprised to find out the government sealed evidence that others were involved.

If by "deep state" you mean long-time Washington power brokers who are used to calling the shots and now feel threatened by Donald Trump not listening to their advice or council — yes, I do believe that many people like that are working against him and his administration.

Whether alien bodies are in Area 51 or not, I do believe the government knows more about UFOs than they have told us.

I do not believe the U.S. government was involved in 9/11, but as we know, NSA advisor Sandy Berger was caught destroying documents from the national archives related to both Bush and Clinton. All U.S. administrations have been to close to the Saudis, and the Saudis were involved in 9/11 at some level.

I believe the climate is always changing — it's natural. I would be willing to accept that man MAY play a role in this. But I do not believe in the solutions currently being discussed, nor do I believe the intention of most political activists are pure.

Any talk of the Illuminati provides the true dangers to man's freedom — like very powerful NGOS and men like George Soros — a perfect cover.

The U.S. government has done some horrible experiments on people and land — I also suspect they will do more things in the future. But I do not believe in the systematic spraying of chemicals using chemtrails.

The moon landing was real, but I see a time coming when people will not be able to trust their eyes due to deep fakes.

What do you think?

Let me know in the comments section below.