Glenn Beck: Bankruptcy Is Good



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Word from the White House that Chrysler is headed toward bankruptcy; Thursday was the deadline for the car company to provide a restructuring plan. Creditors reportedly turned down an unbelievably generous offer in which they would get the privilege of forgiving almost $7 billion of debt.

So here's the one thing that no one else will say about this story today: We have been in denial. Bankruptcy is good! In fact, the word "bankruptcy" has been absent from our vocabulary for way too long.

When the economy began to fall apart, most of us knew in our guts that the best way to stop a ship from sinking is to get rid of the deadweight. Let struggling companies declare bankruptcy, reset and start over. The system works.

But the "smart people," including George W. Bush, said no, no, no we can't let companies go bankrupt! Do you know how many jobs that would cost us? This is an emergency, we need to save them!

How's that working out for us now?

Chrysler still declared bankruptcy. Fannie and Freddie are hemorrhaging money. At least six more major banks need government cash and others that want to give the cash back are finding that the government won't take it.

Oh, and all of those jobs we were scared about losing? They're gone anyway.

We need to stop trying to make this hurt less and instead take our lumps. Remember the expression "no pain, no gain?"

But as I read a story in The New York Times Thursday, it became obvious that's not happening. The headline read: "Economy slides at fastest rate since the 1950s." Scary, except that it continued: "Silver lining detected."

And the silver lining? Consumer spending is up.

That is not a silver lining.

What if the headline read "Little Johnny is sick. But the good news is, he also has a fever."

Not good.

For years we denied that our economy is based on, as the president said Wednesday night, "a pile of sand." We closed our eyes, covered our ears and said "charge it!" Yet even after our house of cards has fallen, we still aren't facing facts. We still cheer on consumer spending as if it's our savior.

It's sand!

We look for silver linings in the job market and hear that 8.5 percent unemployment isn't too bad. Fine, but what about the cities? Washington, D.C.'s unemployment 9.5 percent; Oakland, California: 10.5 percent; Los Angeles County: 11.3 percent and Detroit: 14.9 percent.

We are looking for silver linings in housing, but the numbers are dismal. Phoenix now has the distinction of being the first city where home prices have fallen 50 percent from their peak.

The point is that this is not the time to look for silver linings, it's a time to use some common sense and stop living in denial. Common sense is the reason we are not sending troops to close the border to keep out the swine — sorry — H1N1 virus. What's the point? It's already here, that would be a waste of resources. Man is not going to conquer this virus, we can only try to manage it and hunker down while it burns itself out. The same common sense should be applied to the economy.

The economy has a virus and it needs to run its course. Our weakest companies are infected; some are in critical condition and will die no matter what kind of government antibiotic we try to keep them alive. But instead of letting them fail we're trying all sorts of experimental techniques. And they're all failing. Now we're all in danger.

I have hope — I really do. But this is deeper than most people think it is. Now is not the time to keep listening to the so-called experts who missed this the first time around. It's time to start listening to your gut.

Bailouts and spending can't save us, but common sense can.

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Terry Trobiani owns Gianelli's Drive Thru in Prairie Grove, Illinois, where he put up a row of American flags for the Fourth of July. But the city claimed he was displaying two of them improperly and issued him a $100 ticket for each flag.

Terry joined Glenn Beck on the radio program Tuesday to explain what he believes really happened. He told Glenn that, according to city ordinance, the American flag is considered "ornamental" and should therefore have been permitted on a federal holiday. But the city has now classified the flag as a "sign."

"Apparently, the village of Prairie Grove has classified the American flag as a sign and they've taken away the symbol of the American flag," Terry said. "So, as a sign, it falls under their temporary sign ordinance, which prohibits any flying, or any positioning of signs on your property — and now this includes the American flag. [...] The only way I could fly the American flag on my property is if I put it on a permanent 20 to 30-foot flagpole, which they have to permit."

Terry went on to explain how the city is now demanding an apology for his actions, and all after more than a year of small-business crushing COVID restrictions and government mandates.

"COVID was tough," Terry stated. "You know, we're in the restaurant business. COVID was tough on us. We succeeded. We made it through. We cut a lot of things, but we never cut an employee. We paid all our employees. I didn't take a paycheck for a year just to keep our employees on, because it was that important to me to keep things going. And, you know, you fight for a year, and you beat a pandemic, and then you have this little municipality with five trustees and a president, who just have no respect for small businesses. And right now, what I see is they have no respect for the republic and the United States ... I think it's terrible. The direction that government, at all levels, have taken us to this point, it's despicable."

Watch the video below to catch more of the conversation:


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The Biden administration is now doing everything it can to censor what it has decided is COVID-19 "misinformation." But Glenn Beck isn't confident that the silencing of voices will stop there.

Yeonmi Park grew up in North Korea, where there is no freedom of speech, and she joined Glenn to warn that America must not let this freedom go.

"Whenever authoritarianism rises, the first thing they go after is freedom of speech," she said.

Watch the video clip below from "The Glenn Beck Podcast" or find the full episode with Yeonmi Park here:

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Most self-proclaimed Marxists know very little about Marxism. Some of them have all the buzzwords memorized. They talk about the exploits of labor. They talk about the slavery of capitalist society and the alienation caused by capital. They talk about the evils of power and domination.

But they don't actually believe what they say. Or else they wouldn't be such violent hypocrites. And we're not being dramatic when we say "violent."

For them, Marxism is a political tool that they use to degrade and annoy their political enemies.

They don't actually care about the working class.

Another important thing to remember about Marxists is that they talk about how they want to defend the working class, but they don't actually understand the working class. They definitely don't realize that the working class is composed mostly of so many of the people they hate. Because, here's the thing, they don't actually care about the working class. Or the middle class. They wouldn't have the slightest clue how to actually work, not the way we do. For them, work involves ranting about how work and labor are evil.

Ironically, if their communist utopia actually arrived, they would be the first ones against the wall. Because they have nothing to offer except dissent. They have no practical use and no real connection to reality.

Again ironically, they are the ultimate proof of the success of capitalism. The fact that they can freely call for its demise, in tweets that they send from their capitalistic iPhones, is proof that capitalism affords them tremendous luxuries.

Their specialty is complaining. They are fanatics of a religion that is endlessly cynical.

They sneer at Christianity for promising Heaven in exchange for good deeds on earth — which is a terrible description of Christianity, but it's what they actually believe — and at the same time they criticize Christianity for promising a utopia, they give their unconditional devotion to a religion that promises a utopia.

They are fanatics of a religion that is endlessly cynical.

They think capitalism has turned us into machines. Which is a bad interpretation of Marx's concept of the General Intellect, the idea that humans are the ones who create machines, so humans, not God, are the creators.

They think that the only way to achieve the perfect society is by radically changing and even destroying the current society. It's what they mean when they say things about the "status quo" and "hegemony" and the "established order." They believe that the system is broken and the way to fix it is to destroy, destroy, destroy.

Critical race theory actually takes it a step farther. It tells us that the racist system can never be changed. That racism is the original sin that white people can never overcome. Of course, critical race theorists suggest "alternative institutions," but these "alternative institutions" are basically the same as the ones we have now, only less effective and actually racist.

Marx's violent revolution never happened. Or at least it never succeeded. Marx's followers have had to take a different approach. And now, we are living through the Revolution of Constant Whining.

This post is part of a series on critical race theory. Read the full series here.

Americans are losing faith in our justice system and the idea that legal consequences are applied equally — even to powerful elites in office.

Rep. Devin Nunes (R-CA) joined Glenn Beck on the radio program to detail what he believes will come next with the Durham investigation, which hopefully will provide answers to the Obama FBI's alleged attempts to sabotage former President Donald Trump and his campaign years ago.

Rep. Nunes and Glenn assert that we know Trump did NOT collude with Russia, and that several members of the FBI possibly committed huge abuses of power. So, when will we see justice?

Watch the video clip below:


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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.