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.

Megyn Kelly pulled her sons out of the private elementary school they attended after she learned that the boys were asked "weekly" if they were still sure they were boys. But that's not all that this "experimental transgender education program" taught.

Megyn joined Glenn Beck on the radio program to tell the story, which she thought had ended when the school apologized, and to talk about what's next for America as our leaders refuse to promote actual psychological support for our kids and instead "parade" transgenderism as the solution to their problems.

"When [my son] was in third grade, I found out they unleashed a three-week experimental transgender education program on these boys, with really inappropriate videos. The kids were confused. These are 8- and 9-year-olds, Glenn. They have no idea what the school is even talking about with the trans thing. They got really in-depth, with really in-your-face videos — and then parents complained. And the school did something it hasn't done in its 400-year history, which was they apologized. Even they realized they had done wrong," Megyn explained.

"But, then I said to my son a year later, so did they ever round back to the trans thing? Like, whatever happened with it? And he said ... they bring it up every week. ... [They ask] how many people here still feel confident that they're a boy? Do you still feel sure you're a boy?" she continued. "This is not support. This is not nonbullying. This is indoctrination. And it's deeply confusing to the children, and wrong."

Megyn went on to give examples of how she's seen trans ideology turn "support, nonbullying, kindness, friendship, allyship, on its head."

"The absolute surrender of the medical community to this insanity is a scourge on this nation. It's disgusting what is happening with our doctors," she added. "There are people who are legitimately transgender, or who have gender dysphoria. And for those people, we should be supportive and they should get the care that they need. But what we've done instead, is taken everyone who expresses any kind of gender confusion and said, you're trans. You're trans. And we have our psychiatrists doing this."

"It's crazy," Megyn asserted. "The fact that we're doing this so willy-nilly in the name of allyship and support, it's abusive. It's criminal."

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

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"Never forget" is not only a tribute to those we've lost, it's a warning that it could happen AGAIN. On "Glenn TV" Wednesday, Glenn Beck looks back 20 years ago to the modern generation's Pearl Harbor moment. A day of infamy we're STILL feeling repercussions from.

But in remembering 9/11, we need to look toward the future because the Biden administration is setting us up for the NEXT 9/11. They bungled the Afghanistan withdrawal, and now we have video of top al Qaeda commanders — who served with Osama bin Laden — returning to the country. But could America survive another terror attack?

Glenn asks former NYC Mayor Rudy Giuliani, the leader who brought America back from the brink. He tells Glenn about the moment he learned the Twin Towers were struck, the actions he took to prevent more terrorism, and if he thinks NYC could survive another attack under Mayor de Blasio's leadership.

Glenn is also joined by Rev. Johnnie Moore, author of "The Next Jihad." He warns that Biden's policies in the Middle East are Obama 2.0, and "if you thought ISIS was bad, you haven't seen anything yet. We must keep our eyes on Iran."

Watch the full episode of "Glenn TV" 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.

Glenn Beck and The Nazarene Fund have been working tirelessly to evacuate Americans and our allies from Afghanistan, thanks to the U.S. government's failure to do so. But it's been far from easy. A recent Newsweek article, titled "Taliban Holds Up Glenn Beck Group's Planes," addressed some of the most recent challenges. The article claimed that six planes — filled with Americans and SIVs ready for takeoff — were "grounded by the Taliban amid negotiations with the U.S. State Department." So, what's actually going on? Why is the State Department meddling in the rescue? And what are the next steps to get these Americans home?

Watch the video clip below to hear Glenn breaks down the whole story:

UPDATE: Leaked Email Shows State Department STILL Blocking Afghanistan Rescue Flights


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.