Glenn Beck: Economists and the Government Are Destroyers of Wealth




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On Monday, the Dow dropped below 7,000 for the first time since 1997 and finished the day down almost 300 points. Here's the one thing no one seems to understand right now: Economists and the government are destroyers of wealth.

How could I say this? Aren't they trying to make things better?

Well, the stock market has already lost about $10.5 trillion since the peak back in 2007 and yet at each 1,000-point Dow drop people have kept listening to so-called "experts" who helped pump up the stock market to 14,000 with their "buy-buy-buy" advice.

Just to give you an idea of just how much that is, you would need to spend a $1 million an hour every hour from back when Jesus was born to hit $10.5 trillion.

What kind of credibility do these economists have left, after they've been wrong at every peak and crash we've seen recently?

Take the housing market.

Back in 2005, Freddie Mac's chief economist said, "I don't foresee any national decline in home price values." And the chief economist at the Society of Industrial & Office Realtors said, "There's no national bubble. You have to have a huge deflationary scenario to make a national bubble make any sense."

But as we know, this optimism did not gel with reality.

Be wary of anyone who says you should just leave your money in the stock market, because they are proving themselves incapable of seeing a real worst-case scenario.

Like the government: Their worst-case scenario is the GDP shrinking 3.3 percent this year and a half a percent gain the next year.

Oh really? That's like saying that the worst-case scenario of me eating five McGriddles a day is that I might gain a pound or two.

No, the worst-case scenario is a fatal heart attack.

Ask your gut: Do you believe this is actually the bottom? My gut tells me we are much closer to the beginning of this cycle and no one truly knows where the bottom is.

Meanwhile, the government is destroying wealth and they'll say it's unintentional. But it's become so dramatic that either it's intentional and criminal or criminal in its negligence.

It's not a problem specifically with President Obama or the Democrats, but also with George Bush and the Republicans. They all fail to realize that each time they step in to try to fix things, the market reacts negatively and lots of money is lost.

Since this new mechanic started tinkering, the stocks have lost almost 20 percent of their value.

Simply put, their solution is the problem.

What do you think? Send your comments to: glennbeck@foxnews.com

- Watch Glenn Beck weekdays at 5 p.m. ET on FOX News Channel

Everything comes down to the two Senate runoffs in Georgia. If we lose both races, we lose the country. Democrats know this and are pouring in millions to usher in a Marxist agenda.

As the Left tries to hide how radical the two candidates really are, Glenn takes us inside the Democrat war room to expose the wolf in pastor's clothing, Raphael Warnock, and America's Justin Trudeau, Jon Ossoff. Socialism, the Green New Deal, and "defund the police" are all on the table. And Glenn warns of what's to come if conservatives don't activate: Chuck Schumer will weaponize the Senate, and the radical Left will launch an all-out assault to ravage the Constitution.

Watch the full special below:

The election and its aftermath are the most important stories in America. That's why we're offering our most timely discount ever: $30 off a one-year subscription to BlazeTV with code "GLENN." With BlazeTV, you get the unvarnished truth from the most pro-America network in the country, free from Big Tech and MSM censors.

Sen. Ted Cruz (R-Texas) joined the "Glenn Beck Radio Program" to explain how mail-in ballots are typically disqualified during recounts at a far higher rate than in-person, Election Day ballots, and why this is "good news" for President Donald Trump's legal battle over the election.

"One of the things that gives the greatest cause for optimism is, this election ... there's a pretty marked disparity in terms of how the votes were distributed. On Election Day, with in-person voting, Donald Trump won a significant majority of the votes cast on in-person voting on Election Day. Of mail-in voting, Joe Biden won a significant majority of the votes cast early on mail-in voting," Cruz explained.

"Now, here's the good news: If you look historically to recounts, if you look historically to election litigation, the votes cast in person on Election Day tend to stand. It's sort of hard to screw that up. Those votes are generally legal, and they're not set aside. Mail-in votes historically have a much higher rate of rejection … when they're examined, there are a whole series of legal requirements that vary state by state, but mail-in votes consistently have a higher rate of rejection, which suggests that as these votes begin being examined and subjected to scrutiny, that you're going to see Joe Biden's vote tallies go down. That's a good thing," he added. "The challenge is, for President Trump to prevail, he's got to run the table. He's got to win, not just in one state but in several states. That makes it a lot harder to prevail in the litigation. I hope that he does so, but it is a real challenge and we shouldn't try to convince ourselves otherwise."

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

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Fox News senior meteorologist Janice Dean is perhaps even more disgusted with New York Gov. Andrew Cuomo (D) for his coronavirus response than BlazeTV's Stu Burguiere (read what Stu has to say on the subject here), and for a good reason.

She lost both of her in-laws to COVID-19 in New York's nursing homes after Gov. Cuomo's infamous nursing home mandate, which Cuomo has since had scrubbed from the state's website and blamed everyone from the New York Post to nursing care workers to (every leftist's favorite scapegoat) President Donald Trump.

Janice joined Glenn and Stu on the "Glenn Beck Radio Program" Tuesday to ask why mainstream media is not holding Gov. Cuomo — who recently published a book about his leadership during the COVID-19 pandemic — accountable?

"I'm vocal because I have not seen the mainstream media ask these questions or demand accountability of their leaders. [Cuomo] really has been ruling with an iron fist, and every time he does get asked a question, he blames everybody else except the person that signed that order," Janice said.

"In my mind, he's profiting off the over 30 thousand New Yorkers, including my in-laws, that died by publishing a book on 'leadership' of New York," she added. "His order has helped kill thousands of relatives of New York state. And this is not political, Glenn. This is not about Republican or Democrat. My in-laws were registered Democrats. This is not about politics. This is about accountability for something that went wrong, and it's because of your [Cuomo's] leadership that we're put into this situation."

Watch the video excerpt from the show below:

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As America grows divided and afraid to disagree with the Democrats' woke plan for America, Megyn Kelly is ready to fight back for the truth. For nearly two decades, she navigated the volatile and broken world of the media. But as America leans on independent voices more than ever, she's breaking new ground with "The Megyn Kelly Show."

She joined the latest Glenn Beck Podcast to break down what's coming next after the election: Black Lives Matter is mainstream, leftists are making lists of Trump supporters, and the Hunter Biden scandal is on the back burner.

Megyn and Glenn reminisce about their cable news days (including her infamous run-in with then-presidential candidate Donald Trump) and to look into the chaotic and shady world of journalism and the growing entitlement it's bred. For example, many conservatives have been shocked by how Fox News handled the election.

Megyn defended Fox News, saying she believes Fox News' mission "is a good one," but also didn't hold back on hosts like Neil Cavuto, who cut off a White House briefing to fact check it — something she never would have done, even while covering President Obama.

Megyn also shared this insightful takeaway from her time at NBC: "Jane Fonda was an ass."

Watch the full podcast here:

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