Glenn talks with Stephen Moore about the economy

GLENN: Radio City was built in the 1930s to house network radio shows. The United States government got involved and said you can't do that and so Radio City never had network radio shows in it that broadcast daily until today, putting the radio back into Radio City. Hello and welcome to the program. My name is Glenn Beck. I am so glad that you're here.


 


 Stephen Moore is one of the big cheeses over at the Wall Street Journal. He started Club For Growth, he's an optimist on the economy, right, Stephen?


 


 MOORE: Well, you know, I mean, I'm getting a little more sour every day in the stock market. By the way, Glenn --


 


 GLENN: You are starting to come my way, aren't you, baby?


 


 MOORE: You made election coverage so much fun last night. I mean, this is the way to coverage elections. So congratulations on a great night last night.


 


 GLENN: Thank you. I don't know if a soul watched it but we had fun. So Stephen, let me first start with what the heck happened with the Dow yesterday?


 


 MOORE: Well, you know, I think you put your finger on the problem that we got in Washington right now which I think is depressing the stock market which is, you know, it used to be we the people in this town and now it's we the special interest groups.


 


 GLENN: Yeah.


 


 MOORE: And we have a budget that is out of control, we have politicians that keep saying that they can give out political favors like their candy, you have the major Democratic candidate Hillary Clinton. I don't know if you saw this week, Glenn, when she said that we may have to garnish people's wages to pay for her healthcare plan. I mean, this is insane kind of talk out of major candidates.


 


 GLENN: How long before the business community says, good God almighty, we have got to pull our money out of the United States and put it some place else?


 


 MOORE: Well, you know, that's really a big problem with the U.S. economy right now because as you and I have talked about before on this show, the biggest sickness on this economy over the last few years has been the fall on the value of the U.S. dollar. Our dollar is depreciating in value and when that happens, it means that investors from around the globe find America to be a less attractive place to invest in and foreign investment over the last, you know, 20 years has been one of the engines for our growth. If foreigners pull out because of fears of higher taxes or government-run healthcare system or our budget run amuck, that's going to bring the economy down.


 


 GLENN: Okay. So I said earlier today, Stephen, that you know, you get government healthcare in with Obama or Hillary Clinton and I said, it ain't gonna last and here's why, and please talk me down from this tree if I'm wrong.


 


 MOORE: I'll try.


 


 GLENN: Here's why it won't last. Because you cannot put something that large on the table without addressing Medicare, Medicaid, Social Security already. The credit of the United States will be downgraded, the rest of the world will know we're not serious by any stretch of the imagination. In a very short period of time foreign governments will say, I'm not loaning these people any money because they can't pay it back.


 


 MOORE: Well, I don't know if this answer's going to talk you down from the ledge but, you know, we just had the President's budget came out $3.1 trillion. That's up from $1.9 trillion just seven years ago. So that's a pretty fat increase. And President Bush had a proposal. I mean, it really accentuates the point you're making. President Bush said instead of having Medicare grow by 8% per year, let's let it grow by just 5 1/2% per year. And my God, the interest groups and the Democrats and the liberals said this is going to be the end of civilization if we only allow the Medicare program to grow by 5 1/2% per year. I mean, it's just, I can't describe to you the insanity of the way these people spend money. They think money is free in this town.


 


 GLENN: All right. So Stephen, please speak clearly to the average person.


 


 MOORE: Right.


 


 GLENN: Because the average person says, well, we've always had deficits, we've always never had too much money, it's always worked out, it's always... what is coming is dramatically different. Yes or no?


 


 MOORE: Well, it is because when you talked about the healthcare system and both Hillary and Obama have plans to nationalize healthcare, that is almost 15% of the U.S. economy. If we socialized our healthcare system, I mean, what's next? Are we going to socialize the automobile industry? Are we going to socialize the computer industry? Are we going to socialize steel production and so on? We are not a socialist country but what's scary is a lot of voters say they want to take America down a socialistic road. At the same time most countries are moving away from socialism because it doesn't work!


 


 GLENN: Okay. Two things. Yesterday there was -- and I don't know that -- you know the people who give the ratings for the bond insurers?


 


 MOORE: Yes.


 


 GLENN: They made an announcement yesterday, because I've been watching this and I'm such a novice on this. I've been watching the bond market because it's my understanding that if the insurers are downgraded and these bonds lose their AAA status, a lot of these retirement funds are going to be forced to dump these bonds because they can't hold them anymore and this is a really bad thing.


 


 MOORE: Well, it's really bad and it's bad because if the U.S. Government were to lose its AAA bond rating and I don't think it's going to happen anytime soon but if we continue on this path, it will happen. What it means is not only will we be borrowing trillions of dollars, Glenn, it also means that we're going to have to pay more interest on that. So it becomes a cycle, you know, it becomes a destructive cycle of higher interest rates and higher debt.


 


 GLENN: Right. But what I'm talking about specifically are the municipal bonds, the ones where these insurance companies are now being downgraded. Yesterday, I don't know if you saw this, one of the big, you know, ratings company said we're putting them on hold or we're putting them on notice, which is the intermediate step of basically warning people we're going to down grade these bonds.


 


 MOORE: Right.


 


 GLENN: Is that true or false or what is going on there?


 


 MOORE: Well, I'm not sure of the specific story you're talking about but, you know, you have both the federal debt that we were talking about and then, you're right, you have states and localities that do billions of dollars of borrowing, too. And the problem for the states and localities is that, you know, their primary source of income is property taxes. But when you have a housing crisis like we do now where housing values are declining, that means that people pay less property taxes because their house is worth less. And guess what. That means that states and cities have a very difficult time paying their bill. The state to really pay attention to is California. I mean, my goodness. California already has a $14 billion deficit and it's growing every week.


 


 GLENN: Yeah, the whole -- I love this story today. The Hollywood homes have lost 48% of their value. Did you see that story?


 


 MOORE: You know, I mean, it couldn't happen to a nicer group of people.


 


 GLENN: Let me ask you. Scale of 1 to 10, 10 being Armageddon, 1 being Ronald Reagan with a Republican congress that was in control, rate the candidates on what they are going to do to the economy.


 


 MOORE: Well, I think, you know, the interesting kind of thing on the Democrat side of the aisle is that Obama's actually moved more to the middle on economics and Hillary has moved way to the left. So I would say that -- wait. What's the worst score?


 


 GLENN: 10 is Armageddon.


 


 MOORE: Okay. 10 is Armageddon. So I give Hillary about a 9. I would give Obama about an 8 because he wants to cancel the Bush tax cuts and raise capital gains and raise the payroll tax. And I give John McCain about a, maybe a 3 or 4.


 


 GLENN: That's not as bad as I thought. Maybe I'm a McCainiac. Stephen Moore, thank you. We'll talk again, my friend.

Glenn Beck: One TERRIFYING thing is clear no matter who caused the Nord Stream pipeline leaks

Photo by Danish Defence/Anadolu Agency via Getty Images

Evidence strongly suggests that the Nord Stream pipeline leaks were the result of sabotage, and U.S. and European officials have been working to discover who could be behind the explosions that damaged the natural gas pipelines running from Russia to Germany under the Baltic Sea.

Was it Russia? Ukraine? Germany? But no matter who carried this out, it has put the entire world in grave danger, because if this is indeed an attack, it means that non-military key infrastructure outside Ukraine is now on the "target menu," warned Glenn Beck on the radio program.

"It is so important for you to understand, this is now a non-military key infrastructure that has been destroyed," Glenn explained. "If Russia thinks we did it, they've already said, 'Nukes are now on the table.' That gives us a green light to use nukes," he added.

"This is non-military key infrastructure outside of the borders of Ukraine. To date, as far as we know, combat targets were either in Ukraine, or were military targets hit inside of Russia by Ukrainian Air Force or special forces. But the target menu now includes key civilian infrastructure: electricity, water utilities, energy production. That makes Russia more dangerous than ever. And that would be true no matter who carried out the attack," Glenn stated.

Now, the Russians are saying the Unted States did it, and the U.S. is saying it was Russia. But no matter who carried out the attack, "We are facing a Cuban Missile Crisis," said Glenn.

"This could end up being the biggest story of our lifetime and ... if it isn't played calmly by every side, this could be World War III," he continued. "Russia has already said that this gives them the right to use nuclear weapons as soon as they find out for sure who did it. That would be catastrophic, absolutely catastrophic."

Watch the video clip below to hear more from Glenn. Can't watch? Download the podcast here.

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The White House can try to spin inflation all day long (and it's trying very hard). But you feel the effects of President Joe Biden’s disastrous leadership every time you go to the grocery store or fill up your car. The American economy is on the brink of disaster after less than two years of a Democrat-controlled Congress and White House. And they’ve got plenty more destruction in the works.

The bottom line is they WANT you to get used to a lower living standard. So, what do you do? How do you prepare? What will food and fuel cost in the months ahead? What would the next Great Depression look like? How are you going to feel the effects of ESG and the Left’s war on oil?

On Wednesday night's "Glenn TV," Glenn Beck brings in a panel of economic experts to answer those questions. He’s joined by Carol Roth, former Wall Street investment banker and author of “The War on Small Business,” and Jim Iuorio, a small business owner, stockbroker, and managing director of TJM Institutional Services. While both forecast the worst-case scenario for average Americans, they also offer a glimmer of hope to get us out of this mess.

Watch the full episode below:


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The FBI recently sent more than a dozen armed agents to the home of well-known pro-life activist Mark Houck to arrest him for allegedly violating the Freedom of Access to Clinic Entrances or FACE Act. Now the father of seven faces up to 11 years in prison over claims that he blocked a man from entering an abortion clinic and shoved him when he wouldn't stop verbally harassing Mark's 12-year-old son. Now, if that doesn't sound insane enough, this all happened after local authorities dropped the case. So, what's the full story here?

Attorney Peter Breen joined Glenn Beck on the radio program Tuesday to tell the family's side of the story, including how the case was already "won" three years ago, and how, after receiving a target letter from the United States Attorney's Office for the Eastern District of Pennsylvania, Mark's legal team agreed to cooperate fully, only to hear nothing back until the day the FBI showed up on Mark's doorstep.

Breen also explained how the FBI has tried to downplay "abuse of power" claims, accusing Mark's wife of making "inaccurate claims" about the terrifying experience.

"Ryan-Marie, who is Mark's wife, she thought she saw 25 [FBI agents.] The FBI came back and said it wasn't 25, it was no more than 15 or 20 heavily armed federal agents. And she had called them a 'SWAT team' because she's a lay person. I don't know the difference between a SWAT team and a bunch of heavily armed, armored, and shield-bearing federal agents," Breen said.

According to Fox News, a senior FBI source said:

There may have been 15-20 agents at the scene, but denied 25 were there. The agents who came to the door had guns out and at the ready, according to this FBI source, but the guns were never pointed at Houck or his family and were lowered or holstered as soon as Houck was taken into custody. Houck was handcuffed with a belly chain.

"So, yeah, they had guns drawn and pointed at Mark in front of his wife and their children. And that whole show of force was done against a man who was not a drug lord, not a mafia boss, but instead, a law-abiding pillar of the community whose attorney said, 'we'll bring him in if you decide to charge, even though you have no case.'"

Breen went on to assert that he believes Congress "needs to" hold Attorney General Merrick Garland accountable for the arrest. "I can't imagine that those 20 federal agents were excited about being called out to a peaceful man's home, guns drawn," he said.

In the video clip below, Breen goes on the explain what he believes should happen next, and why Houck's arrest "should frighten all of us." Can't watch? Download the podcast here.

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Gavin McInnes broke the internet last month when his live show was interrupted, and it appeared that he was arrested. He broke the internet again a few weeks later when he admitted that the arrest was staged as part of what was intended to be an elaborate prank.

McInnes joined Glenn Beck on "Glenn TV" to explain the real reason behind his disastrous prank.

"This was a $10,000 joke. I lost 100 subscribers because of it, but I was going away to Paris for a week because my daughter is going to college and I thought let's make it interesting," McInnes said of his decision to fake an on-air arrest in the middle of his live "Get Off My Lawn" podcast on August 25.

"There was a method to the madness, with the prank ... my point was, first of all, this is happening to people in real-time. Tim Poole has been swatted a million times," he explained to Glenn. "The thought police are in full effect. I also wanted to lampoon the media's bloodlust for us suffering."

Glenn played a clip of the now-infamous hoax while McInnes explained what was really going on behind the scenes, including how his very drunk friend "Unrelia-Bill" was supposed to act the part of the arresting officer but ended up being much too intoxicated (at "2 pm") to speak even a few lines, and how smugly gleeful the "far left" was when they thought McInnes had actually been arrested.

Watch the video clip below to catch more of the conversation:


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.