Glenn Beck: Ready for the Other Shoe to Drop?



Watch Glenn Beck weekdays at 5 p.m. and 2 a.m. ET on the FOX News Channel

President Obama is meeting with the leaders of the credit card industry to talk about fees and interest charges that critics call abusive. Both houses of Congress are trying to figure out how to limit those kinds of practices and require greater disclosure.

But here's the one thing the government and media are missing: The other shoe is about to drop.

I'll explain exactly what that means in a second, but first I want to give you some background on me, because even if you tune in every day, you still might think I'm a kook and if you're Stephen Colbert then you are sure I'm on the fast track to crazy town.

On September 18, 2007, I said this:

(BEGIN AUDIO CLIP)

"We are absolutely headed for a recession… I don't think that there's any way out of the recession. It is coming. Now, how deep it goes is anybody's guess. I tend to be — but this is just me. I tend to be somebody who says, batten down the hatches, man, because here it comes."

(END AUDIO CLIP)

On that day, the Dow went up over 300 points and finished at 13,739.

Nuts? Well, economists decided that the recession officially hit in December 2007 and as you know the Dow is now trading around 8,000.

Then on December 13, 2007, I said:

(BEGIN AUDIO CLIP)

"We have this problem of nobody has any money to lend and all of these banks keep saying no, no, no, we've already done our write-downs; the problem's behind us now. No, it's not. No, it is not. They are saying that so people don't panic and go on a run on the bank."

(END AUDIO CLIP)

As you may have noticed, bailouts have grown larger and larger in the time since it was supposedly "fixed," adding up to a total of $12.8 trillion.

Look, I'm not the new, extra-pasty, non-Jamaican Miss Cleo. I've just been trying to apply the common sense that this country used to pay attention to and tell you the truth as I see it.

Now, let me show you what I think is the next phase. The other shoe that I think is about to drop relates to commercial real estate and credit cards.

Why?

First, commercial real estate: It's worth close to $7 trillion or about half the amount that our entire economy churns out in a year. It's a huge industry, with huge problems.

There are $1.3 trillion in malls and other commercial property loans coming due between now and 2013. And, in a report released Thursday, Deutsche Bank estimates that at least half the loans and two out of three of those packaged and resold as securities, will not qualify for refinancing.

Meanwhile, nearly $1 trillion in debt is tied up in the credit card industry.

Barack Obama is getting ready to ask those companies to take on even riskier loans, which I'm pretty sure is what caused the housing bubble in the first place.

Because of the way our economy is structured, Obama needs you to borrow more now, so that you'll spend more now. He's trying to prop up this economy just one more time on our Visa cards — and I guess then we can worry about being fiscally responsible.

While we're supposedly clinging to our God and our guns, Obama is clinging to the idea that new debt is the cure for old debt.

Some people will call me un-American or crazy for suggesting this, but now isn't the time to spend like an heiress.

We all must be careful and spend our money wisely. Don't worry about buying something from every catalogue; invest in piece of mind. If you're able, put some money away. If this economic storm passes quickly, you'll be in a better position. If not, you're prepared for the worst.

• Is Beck right? Click here to join the debate

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

There's been a lot of talk about the idea of a (peaceful) "national divorce" as the Left continues to abandon everything that made America what it is. Well, this week's guest on "The Glenn Beck Podcast" is all for that divorce. Michael Malice is the author of "The Anarchist Handbook" and host of the podcast "Your Welcome." He joined Glenn to talk about how an anarchist would peacefully take on America's greatest challenges — with a smile.

"My rights are not up for discussion," Malice told Glenn. He explained why his version of America will save America, and why, in spite of anxious talk of "national divorce," he has so much hope for the future.

Watch the video clip below or find the full episode of "The Glenn Beck Podcast" 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.

There are new curriculum standards being implemented into schools throughout the nation for health classes that not only go far beyond what's appropriate for young children, but are entrenched in clear political biases, too. Under the standards, third-graders are taught about hormone blockers and endless gender identities, and topics get shockingly graphic for kids as young as 11. Some schools are even teaching their teachers and kids to ignore what parents have to say about these topics. And the worst part may be that many parents are completely unaware what their children are being taught.

Tina Descovich, co-founder of Moms for Liberty, joined "The Glenn Beck Program" to explain exactly what you can ask at your next school board meeting to ensure this "horrifying" curriculum isn't being taught in your kid's school.

Watch the video clip 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.

It should come as no surprise that a newsworthy story receives more media coverage when released on a Monday than a Friday. The reason is in part due to a large number of news-consuming Americans checking out for the week to focus on their weekend plans rather than the news.

On Monday's radio program, Glenn Beck shared information that President Joe Biden decided to release on Friday — when fewer people would notice — regarding the Climate Finance report. This report is marketed to Americans as "A Roadmap To Build a Climate-Resilient Economy." But Glenn believes the report to be Biden's Great Reset warning shot to banks.

In this clip, Glenn warned that if Americans don't stand together, in eight years we all indeed will own nothing. Watch the clip for the full story. Can't watch? Download the podcast 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.

On today's radio program, Glenn Beck was joined by Bill O'Reilly to discuss the top stories of the week.

For O'Reilly, the biggest story this week centered around someone mysteriously missing from mainstream media news reports today: Mark Zuckerberg. Specifically, O'Reilly said it's the 'scandalous' way the Facebook CEO spent nearly $420 million to influence the 2020 election — and did so successfully.

Watch the clip to hear the full conversation. Can't watch? Download the podcast 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.