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:

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"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."

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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:

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"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."

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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.

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

On Monday's episode of "The Glenn Beck Radio Program," Glenn opened up about the tragic death of his brother-in-law, Vincent Colonna Jr., who passed away unexpectedly on April 5. He also shared some of the important thoughts and insights he's learned through the grieving process.

"Last Monday, I was sitting in this chair ... the two-minute warning comes and Stu said to me, 'You ready for the show?'' ... And that's when my wife [Tania] came to the door of the studio here at our house and said, 'I...' and she held the phone up. And then she collapsed on the floor in tears," Glenn began. "Tania's brother had passed. To say this was a shock, is an understatement."

Glenn described his brother-in-law as having "a servant's spirit."

"He was always the guy who lit up the room. He was always the guy helping others. He would never stop, because he was always helping others," Glenn said of Vincent. "He was on the school board. He was a little league coach. He was the soccer coach. He helped build the church. He took care of the lawn of the church. He was constantly doing things, raising money for charity, working over here, helping to organize this. But he was never the guy in the spotlight. He was just the guy doing it, and you had no idea how much he had done because he never talked about it.

"We also didn't know how much mental anguish he was in because he never talked about it. And last Monday morning, after spending Easter with the family ... he killed himself. This is now the third family member of mine that has gone through this. And I keep seeing it play out over and over and over again, in exactly the same way."

Glenn described his thoughts as he, Tania, and her family struggled to come to grips with the devastating loss.

"I learned some really important things as I was watching this wake. I'm seeing these people from all walks of life ... the people that were there, were there because [Vince] made a difference in their life. He was a true servant. As I'm watching this, all that kept going through my mind was, 'by their fruits, ye shall know them.' The fruits of his labor were on display. He was a servant all the time. All the time ... he found a way to love everybody.

"There are two great commandments: Love God with all your heart and mind and soul. And love your neighbor. So those two great commandments boil down to: Love truth. Because that's what God is," Glenn said.

"Love thy neighbor. That's where joy comes from. The opposite of joy is despair, and that is the complete absence of hope ... and how do you find joy? You find joy by rooting yourself in the truth. Even if that's a truth you don't want to accept. Accept the truth," he added. "But we have to stop saying that there's nothing we can do. What are we going to do? Well, here's the first thing: stop living a lie."

Watch the video clip below to hear more from Glenn:


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After imprisoning a pastor for refusing to follow COVID-19 restrictions, Canadian officials barricaded his church. And when some church members retaliated by tearing down part of the fence, Canadian Mounties arrived in riot gear.

Rebel News Founder Ezra Levant joined Glenn Beck on the radio program to give his insight on the crazy situation. He described the new, armed police presence surrounding GraceLife Church in Edmonton, Alberta, and how it not only encouraged hundreds of protesters to stand with the church in support but forced congregation members underground to worship as well.

What's happening is eerily similar to what occurs everyday in China, Levant says, and it must stop. Who would have thought this type of tyranny would be so close to home?

Watch the video below to hear Ezra describe the religious persecution taking place in Canada.


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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.

Enough prayers? Why is supposed Catholic Joe Biden suggesting that Congress ought to stop praying for after someone commits acts of gun violence?

On Friday, Stu Burguiere and Pat Gray filled in for Glenn and discussed President Joe Biden's remarks during his speech on gun control. "Enough prayers. Time for some action," Biden said. Stu and Pat were surprised how dismissive Biden appeared to be on the idea of prayer.

Watch the clip to hear more. 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.

Just days after Canadian pastor James Coates was released from prison for refusing to bow to COVID-19 lockdown restrictions, several police officers showed up at another church to ensure restrictions were being followed. But Polish pastor Artur Pawlowski of the Cave of Adullam Church in Alberta, Canada, knew his rights, telling the cops not to come back until they had a warrant in hand.

Filling in for Glenn Beck on the radio program this week, Pat Gray and Stu Burguiere played a video of the interaction.

"Please get out. Please get out of this property immediately. Get out!" Pawlowski can be heard yelling at the six officers who entered his church.

"Out! Out! Out! Get out of this property immediately until you come back with a warrant," he continued. "Go out and don't come back. I don't want to talk to you. You Nazis, Gestapo is not allowed here! ... Nazis are not welcome here! Do not come back you Nazi psychopaths. Unbelievable sick, evil people. Intimidating people in a church during the Passover! You Gestapo, Nazi, communist fascists! Don't you dare come back here!"

Watch this clip to see the heated exchange:

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.