Glenn Beck: Krugman half right?



Arguing with Idiots: How to Stop Small Minds and Big Government


by Glenn Beck

GLENN: Here's what's coming in our economic news according to Paul Krugman. The next employment report could show the economy adding jobs for the first time in two years. The next GDP report is likely to show solid growth in late 2009. There will be a lot of bullish commentary and the calls we're already hearing for an end to stimulus for reversing the steps of the government and the Federal Reserve and the steps that they took to prop up the economy will grow even louder. But if these calls are heeded, it will be repeating the great mistake of 1937 when the Fed and Roosevelt administration decided the Great Depression was over and that it was time for the economy to throw away its crutches. Spending was cut back. Monetary policy was tightened and the economy promptly plunged back into the depths. This shouldn't be happening. Both Bernanke, the Fed chairman and Christina Romer heads President Obama's Council of Economic Advisors are scholars of the Great Depression. They have warned explicitly against reenacting the events of 1937. You will read the economic news. It will be important to remember first of all the blips, occasional good numbers, signify nothing. The economy, the fact of the economy is we're mired in a prolonged slump. Early 2002, for example, initial reports showed the economy growing to a 5.8% annual rate, yada, yada, yada, goes on. All right, listen. Paul Krugman is half right. Paul Krugman is telling you that we're not out of the woods by any stretch of the imagination. We're not. What Paul Krugman, however, forgets is the great mistake of '37 led to the great mistake of '39 where they didn't listen to the well, it's either the chief economic no, I think he was the head of the treasury and FDR's best friend and a huge, huge fan of the new deal. By 139 he saw that the New Deal didn't work and he saw that the rest of the world had already come out of it. Remember the Great Depression as it's called here in America was only the depression in the rest of the world. We made it a Great Depression because we didn't let things fail and we didn't let things reset. The rest of the world let it all reset. So that's why it's the Great Depression in our history books but if you go over to Europe, it is only called the depression. By the end of 1939 the guy who helped design the New Deal said in his testimony in congress, we see now that none of this works. We've tried valiantly, we've done it over and over again but now it's turned into insanity because it doesn't work, we have to reverse course. What Paul Krugman and nobody else will tell you and I will in the next two days on radio and television is it is imperative that we reset the system because it's coming one way or another. If you use any kind of common sense, you'll know that the reason why we've had so many problems and the problems seem to get bigger and bigger is because we're erasing natural bubbles.

Kondratieff was a guy who was the economic advisor for Stalin. There's something called the Kondratieff Wave in economics and basically it is that, you know, there are seasons to everything. There is the winter season that we're in now and it seems like it will never end. And then you hear green shoots. You've heard those phrases before, green shoots. That comes from the Kondratieff Wave. The advisor of Stalin. Economy said there would be green shoots and that would show that spring would come. And in spring you would think that we were new and we were refreshed and we were revived, and the economy would start to boom again and people would say, oh, my gosh, I've got another idea. And then summer would set in. And summer would go on for a very long time where it would be just good times and people would begin to think that it would never end. But then autumn, and autumn would set in and you would start to see the season change and you would notice that the leaves are starting to turn and you would think, my gosh, the plants are starting to die and the trees are starting to lose their leaves. If you don't understand the cycle, you would do everything you could to bring those plants into a greenhouse. But those plants will go to sleep anyway, and the more you try to stimulate the growth in those trees, the better chance you have of killing the forest. The leaves all fall down and then you hit winter. And in that winter, that is a season of renewal. When Stalin said to Kondratieff, "Which is the better system, capitalism or communism," Kondratieff said, well, let me look at it. And he came back to him with the Kondratieff Wave and said, you know what, capitalism is because capitalism, they allow things to fail. And when they fail, they go into a season of renewal and then the green shoots start again. Where communism, we can't allow it to fail. We'll continue to prop up the old outdated systems, we'll continue to prop up the bad decisions of others because we can't allow it to fail. So in the end capitalism will win because it will reset itself and it will be a short period of time. It will only last a season. And then there will be three seasons of growth. Stalin thanked him for his analysis and then executed him. We see that Kondratieff was right. We use his language of the green shoots. But yet we don't listen to him. That 1937 feeling that's coming over Paul Krugman doesn't take into account the Kondratieff Wave. And these bubbles have gotten bigger and bigger. We started with the dot com bubble, the pets.com bubble when everybody was like, yeah, I've got to buy that. Pets.com, $300 a share? That makes sense. I don't even know what they sell. I don't know anybody that but it's pets.com. People love pets, people have computers. What a surprise, they failed. And they should have failed. But the government immediately ran in and tried to make the booboo go away. The Fed rushed in and tried to make things better and then we had the September 11th event, and the Fed tried to make the booboo go away and they rushed in. And each time they rush in, they lower interest rates and they make money, spending, debt, more affordable. Then we had the housing bubble, and you see how each one of these is getting bigger. The housing bubble still has remnants of the dot com bubble and 9/11. And we've just compounded it and taken those three now events and made them into one giant event. And now what we're doing, there was a story in the New York Times on Sunday. Do they even read their own paper? There was a story in the New York Times on Sunday that the bailing out of people's personal mortgages, going in and trying to save the homeowner on the front page of the New York Times is actually making things worse! Because instead of losing their homes, they get this blanket, they get this bailout and what they do is they get the bailout, they spend that money and they continue to pay for a house they cannot afford. And so eight months later they are even more destitute and the taxpayer is out of the money. And nothing's been solved. If you want to see green shoots, the kind of green shoots that grow into a tall, strong forest, you must allow winter to happen. These people who believe that we must stop all forest fires haven't worked a day with their hands in the soil. Forest fires, naturally occurring fires replenish the soil and make the forest stronger. And the longer you prevent any kind of fire, controlled burn to actually happen, the more chance you have of the entire forest burning down and that's what we've done. He says we can't stop spending. I believe the American people have told the truth of the situation and how if we don't stop spending soon, a forest fire beyond your wildest imagination will burn the country to the ground and there won't be anything left. If we don't allow the system to reset now, economics like physics laws of nature, you cannot change them. If it doesn't reset now, it will only like a snowball gather more mass and it will slam at the bottom of the hill at some point. It will do more damage. It will be harder to clean up. Congratulations, New York Times and Paul Krugman for being half right. I haven't seen the New York Times being half right in quite some time. That may be an all time record for them.


 

GLENN: Here's what's coming in our economic news according to Paul Krugman. The next employment report could show the economy adding jobs for the first time in two years. The next GDP report is likely to show solid growth in late 2009. There will be a lot of bullish commentary and the calls we're already hearing for an end to stimulus for reversing the steps of the government and the Federal Reserve and the steps that they took to prop up the economy will grow even louder. But if these calls are heeded, it will be repeating the great mistake of 1937 when the Fed and Roosevelt administration decided the Great Depression was over and that it was time for the economy to throw away its crutches. Spending was cut back. Monetary policy was tightened and the economy promptly plunged back into the depths. This shouldn't be happening. Both Bernanke, the Fed chairman and Christina Romer heads President Obama's Council of Economic Advisors are scholars of the Great Depression. They have warned explicitly against reenacting the events of 1937. You will read the economic news. It will be important to remember first of all the blips, occasional good numbers, signify nothing. The economy, the fact of the economy is we're mired in a prolonged slump. Early 2002, for example, initial reports showed the economy growing to a 5.8% annual rate, yada, yada, yada, goes on. All right, listen. Paul Krugman is half right. Paul Krugman is telling you that we're not out of the woods by any stretch of the imagination. We're not. What Paul Krugman, however, forgets is the great mistake of '37 led to the great mistake of '39 where they didn't listen to the well, it's either the chief economic no, I think he was the head of the treasury and FDR's best friend and a huge, huge fan of the new deal. By 139 he saw that the New Deal didn't work and he saw that the rest of the world had already come out of it. Remember the Great Depression as it's called here in America was only the depression in the rest of the world. We made it a Great Depression because we didn't let things fail and we didn't let things reset. The rest of the world let it all reset. So that's why it's the Great Depression in our history books but if you go over to Europe, it is only called the depression. By the end of 1939 the guy who helped design the New Deal said in his testimony in congress, we see now that none of this works. We've tried valiantly, we've done it over and over again but now it's turned into insanity because it doesn't work, we have to reverse course. What Paul Krugman and nobody else will tell you and I will in the next two days on radio and television is it is imperative that we reset the system because it's coming one way or another. If you use any kind of common sense, you'll know that the reason why we've had so many problems and the problems seem to get bigger and bigger is because we're erasing natural bubbles.

Kondratieff was a guy who was the economic advisor for Stalin. There's something called the Kondratieff Wave in economics and basically it is that, you know, there are seasons to everything. There is the winter season that we're in now and it seems like it will never end. And then you hear green shoots. You've heard those phrases before, green shoots. That comes from the Kondratieff Wave. The advisor of Stalin. Economy said there would be green shoots and that would show that spring would come. And in spring you would think that we were new and we were refreshed and we were revived, and the economy would start to boom again and people would say, oh, my gosh, I've got another idea. And then summer would set in. And summer would go on for a very long time where it would be just good times and people would begin to think that it would never end. But then autumn, and autumn would set in and you would start to see the season change and you would notice that the leaves are starting to turn and you would think, my gosh, the plants are starting to die and the trees are starting to lose their leaves. If you don't understand the cycle, you would do everything you could to bring those plants into a greenhouse. But those plants will go to sleep anyway, and the more you try to stimulate the growth in those trees, the better chance you have of killing the forest. The leaves all fall down and then you hit winter. And in that winter, that is a season of renewal. When Stalin said to Kondratieff, "Which is the better system, capitalism or communism," Kondratieff said, well, let me look at it. And he came back to him with the Kondratieff Wave and said, you know what, capitalism is because capitalism, they allow things to fail. And when they fail, they go into a season of renewal and then the green shoots start again. Where communism, we can't allow it to fail. We'll continue to prop up the old outdated systems, we'll continue to prop up the bad decisions of others because we can't allow it to fail. So in the end capitalism will win because it will reset itself and it will be a short period of time. It will only last a season. And then there will be three seasons of growth. Stalin thanked him for his analysis and then executed him. We see that Kondratieff was right. We use his language of the green shoots. But yet we don't listen to him. That 1937 feeling that's coming over Paul Krugman doesn't take into account the Kondratieff Wave. And these bubbles have gotten bigger and bigger. We started with the dot com bubble, the pets.com bubble when everybody was like, yeah, I've got to buy that. Pets.com, $300 a share? That makes sense. I don't even know what they sell. I don't know anybody that but it's pets.com. People love pets, people have computers. What a surprise, they failed. And they should have failed. But the government immediately ran in and tried to make the booboo go away. The Fed rushed in and tried to make things better and then we had the September 11th event, and the Fed tried to make the booboo go away and they rushed in. And each time they rush in, they lower interest rates and they make money, spending, debt, more affordable. Then we had the housing bubble, and you see how each one of these is getting bigger. The housing bubble still has remnants of the dot com bubble and 9/11. And we've just compounded it and taken those three now events and made them into one giant event. And now what we're doing, there was a story in the New York Times on Sunday. Do they even read their own paper? There was a story in the New York Times on Sunday that the bailing out of people's personal mortgages, going in and trying to save the homeowner on the front page of the New York Times is actually making things worse! Because instead of losing their homes, they get this blanket, they get this bailout and what they do is they get the bailout, they spend that money and they continue to pay for a house they cannot afford. And so eight months later they are even more destitute and the taxpayer is out of the money. And nothing's been solved. If you want to see green shoots, the kind of green shoots that grow into a tall, strong forest, you must allow winter to happen. These people who believe that we must stop all forest fires haven't worked a day with their hands in the soil. Forest fires, naturally occurring fires replenish the soil and make the forest stronger. And the longer you prevent any kind of fire, controlled burn to actually happen, the more chance you have of the entire forest burning down and that's what we've done. He says we can't stop spending. I believe the American people have told the truth of the situation and how if we don't stop spending soon, a forest fire beyond your wildest imagination will burn the country to the ground and there won't be anything left. If we don't allow the system to reset now, economics like physics laws of nature, you cannot change them. If it doesn't reset now, it will only like a snowball gather more mass and it will slam at the bottom of the hill at some point. It will do more damage. It will be harder to clean up. Congratulations, New York Times and Paul Krugman for being half right. I haven't seen the New York Times being half right in quite some time. That may be an all time record for them.

This week on "The Glenn Beck Podcast," civil rights activist and Woodson Center founder Bob Woodson joined Glenn to call out the leftists in the "race grievance industry," like the Rev. Al Sharpton and Black Lives Matter, Inc., who, he says, are "profiting off the misery of their people."

Woodson lived through the appalling segregation laws of the last century and has a much different message about what it means to be "oppressed" than the so-called "anti-racist" activists today.

Woodson said he believes the real struggle for impoverished minority communities "is not racial." He argued that leftists "at the top" derive "moral authority" by claiming to represent "so called marginalized groups," while they prosper at the expense of those "at the bottom."

"There's nothing worse than self-flagellating guilty white people and rich, angry black people who profit off the misery of their people," Woodson said.

"I call what Sharpton and some of those are doing is worse than bigotry. It's treason. It's moral treason against their own people," he added. "The only time you hear from them is when a white police officer kills a black person, which happens maybe 20 or 21 times a year, but 6,000 blacks are killed each year by other blacks. So, in other words, their message is black lives only matter when taken by someone white, which means you are betraying the black community when you turn your back on 20 children that are slaughtered and you don't march in that community and demand that those killers be turned over to the police."

'The problem is not racial," Woodson asserted. "The problem is the challenge of upward mobility. Any time you generalize about a group of people, blacks, whites, Native American, and then you try to apply remedies, it always benefits those at the top at the expense of those at the bottom. ... It's a bait and switch game where you're using the demographics of the worst of these, to get resources that helps the best of these, or those who are prospering at the top. So, if I was the president, I would say an end to the race grievance business, that America should concentrate on the moral and spiritual free fall that is consuming people at the bottom."

Watch the video clip below to catch more of the conversation, or enjoy the full podcast here or wherever you listen to podcasts:

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Following President Joe Biden's first joint address to Congress, Glenn Beck joined fellow BlazeTV host and author of the new book, "American Marxism," Mark Levin to expose what they called the "Liar-In-Chief's" radical plans for our country and to explain why the far Left's proposals and programs are really a "frontal attack" on our Constitution, our country, and our way of life.

"Substantively, this is a frontal attack on our Constitutional system of limited government. It is a frontal attack on our capitalist system. He's basically throwing out all the bromides for the radical left groups that now form the base of the modern Democrat Party. And I make the case that ... this is Marxist bullcrap in its broadest sense," Levin stated.

"Here we are, a country now where one man can get up in the middle of the night and make a list of everything he wants to do to the country," he added, speaking figuratively. "It's like an unreality where we're living in separate worlds ... the whole thing is a fraud."

Watch the video clip below to hear Levin expose the lies and misinformation in Biden's speech and explain why he believes the true message is absolutely chilling for the future of our nation:

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After months of delays and COVID-19 excuses, President Biden finally delivers his address to the joint session of Congress. It is a truly historic moment, as only a few hundred members of Congress received an invite. While some have compared this speech to JFK's moon landing challenge, it will likely be more like FDR's New Deal nightmare. Will Speaker Pelosi continue her tradition of ripping up the president's speech? Will VP Harris cackle to a quiet audience?

Glenn Beck teams up with fellow BlazeTV host Mark Levin, author of the new book "American Marxism," to take on the progressive plans that could completely transform our economy and our way of life. Steve Deace, BlazeTV host and author of "Faucian Bargain," joins to discuss why it's not enough for conservatives to just lament the dangerous Democrat agenda; we must activate against the woke infection of our institutions. Plus, a power panel to rival CNN talking heads: Stu Burguiere, BlazeTV host of "Stu Does America," and Jason Buttrill, head researcher and writer for Glenn Beck.

Watch the video below:

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The less-than-favorable reaction to Caitlyn Jenner's bid for governor of California as a Republican has shown that leftists and so-called "transgender rights activist" care more about political party than actual transgender rights. Despite the fact that if she wins, Jenner would be the first trans governor in our nation's history — and prove that Republicans aren't 'transphobic' — Leftist activists would rather back Gavin Newsom — a cisgender, white male.

"Make no mistake: we can't wait to elect a #trans governor of California. But @Caitlyn_Jenner spent years telling the #LGBTQ+ community to trust Donald Trump. We saw how that turned out. Now she wants us to trust her? Hard pass," tweeted Equality California, one of the state's largest LGBTQ-rights groups.

"With all due respect, @Caitlyn_Jenner, you are running as a Republican?! Republicans deny your existence and are trying to erase trans youth. HELL NO," tweeted leftist activist and actress Alyssa Milano.

"Well done Caitlyn Jenner, running for governor wins you the one medal you never got: stupidest mother***ker on earth. Running as a Trump Republican & entering a world that hates you," tweeted "Sons of Anarchy" star Ron Perlman.

In this clip from the "Glenn Beck Radio Program," Glenn and producer Stu Burguiere discussed the Left's hostile reaction to Jenner's candidacy for California governor and agreed that leftist trans activists are showing themselves to be more "leftists" than "trans activists."

"If Caitlyn Jenner did, let's say, run for governor and win as a Republican, wouldn't that go a long way to advance what [trans rights activists'] goal supposedly is? Like, if you really believe Republicans hate trans people and what you want is for society to have trans people accepted more broadly, what better way to accomplish that than having a Republican trans candidate?" Stu asked.

"Yeah, see, but you just said the key words: 'If you really believe.' They don't really believe anything. I don't think they even really believe that Republicans hate gay people. I don't think they actually believe that. That's just a slogan that's been drilled in their head," Glenn said. "It doesn't have anything to do with race or gender, or really anything else. It has everything to do with politics. That's it."

Watch the video clip below to hear more from Glenn:


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