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.

Conservatives are between a rock and a hard place with Section 230 and Big Tech censorship. We don't want more government regulation, but have we moved beyond the ability of Section 230 reforms to rein in Big Tech's rising power?

Rachel Bovard, Conservative Partnership Institute's senior director of policy, joined the Glenn Beck radio program to give her thoughts and propose a possibly bipartisan alternative: enforcing our existing antitrust laws.

Watch the video below:

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Dan Bongino, host of The Dan Bongino Show, is an investor in Parler — the social media platform that actually believes in free speech. Parler was attacked by Big Tech — namely Amazon, Apple, and Google — earlier this week, but Bongino says the company isn't giving up without a fight. In fact, he says, he's willing to go bankrupt over this one.

Dan joined Glenn Beck on the radio program to detail what he calls a "smear" campaign behind the scenes, and how he believes we can move forward from Big Tech's control.

"You have no idea how bad this was behind the scenes," Dan told Glenn. "I know you're probably thinking ... well, how much worse can the attack on Parler have gotten than three trillion-dollar companies — Amazon, Apple, and Google — all seemingly coordinated to remove your business from the face of the Earth? Well, behind the scenes, it's even worse. I mean, there are smear campaigns, pressure campaigns ... lawyers, bankers, everyone, to get this company ... wiped from the face of the earth. It's incredible."

Dan emphasized that he would not give up without a fight, because what's he's really fighting for is the right to free speech for all Americans, regardless of their political opinions, without fear of being banned, blacklisted, or losing jobs and businesses.

"I will go bankrupt. I will go absolutely destitute before I let this go," he said. "I have had some very scary moments in my life and they put horse blinders on me. I know what matters now. It's not money. It's not houses. It's none of that crap. It's this: the ability to exist in a free country, where you can express your ideas freely."

Watch the video below to hear more from Dan:

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.

Joe Biden's administration is getting ready for something historic, but we're all being distracted. And now that Biden has hired at least 14 former or current executives from Big Tech — experts at colluding to censor unflattering news about Biden — Americans must be laser-focused on what's coming.

On January 20, the most corrupt president in American history will be inaugurated, and it looks like some of his cabinet choices were picked specifically so everything just – poof – goes away. The administration nominees appear to be all about preserving corruption, crony capitalism, and executing a Great Reset. Those same people also have one more thing in common: Ukraine.

On his Wednesday night special this week, Glenn exposes their radical agenda in their own words and gives U.S. senators the questions they must ask before confirming corrupt nominees to some of the highest offices in the country.


Freedom of speech is important. Here at BlazeTV, we work hard to bring you the truth from the most pro-America network in the country, free from Big Tech censors. Support free speech by supporting BlazeTV. Get our largest discount ever: $30 off a one-year subscription with code GLENN. Show your support and join us today!

I want to talk to you about something that probably didn't make a lot of sense a long time ago. In fact, I can't tell you how many program directors and how many stations threatened to cancel. Or how many calls I got from the average listener saying; What the hell are you even talking about when I talked about, the leadership of Martin Luther King.

I have done everything I can — as much as I possibly can — to teach you about Martin Luther King and nonviolent protests. And I don't think there's anybody in the media who has talked about nonviolence longer and more in-depth on commercial airwaves than me. Preachers, certainly. But commercial airwaves — I don't think anybody has.

Now I think many are beginning to understand why I tried to lay that foundation. I have told you since September 11th that I have this feeling you are going to be the group of people that will, in the end, save the republic.

I've always believed that. I don't know how it's saved. It might just be preserved in our hearts, I don't know. But I believe it now.

I never wanted us to get to this point — everything I've done is to prevent us from getting here. But everybody is so politically tied to their side that no one will let their shields down and actually listen to one another.

And we're at that desperate point now.

You are equipped to save the republic because you at least hopefully have a fundamental understanding of the Constitution and the Bill of Rights. And you have at least a basic understanding of American history. More importantly, what makes this audience so phenomenal is that it is the most generous and service-minded audience of any show in America and perhaps the world.

That's part of what continues to be so frustrating about the Capitol invasion last week. Because you're being maligned.

You.

I know who you are. This is the most peaceful, generous, loving, God-fearing, authentic and patriotic audience in America. And you are frustrated and you are tired of being hit in the face and being called bigot and everything else no matter what you do.

I've been called an anti-Semite just in the last 24 hours by everybody, unjustly.

I get it.

You are now being tainted by the actions of complete imbeciles who do not represent you and me. It's not fair. But that's the hand that we're being dealt and God is in charge and He is not surprised.

We know the left's current tactics fail in the long run. Silencing. Canceling. Taking away rights.

We know the left's current tactics fail in the long run. Silencing. Canceling. Taking away rights. These are the hallmarks of regime, after regime, after Marxist regime on the ash heaps of history. Now China is still there because they've taken the so-called free market and took the capitalist system and they combined it with their Marxist utopia.

I don't know what's going to happen to the people over there. Especially seeing that our high-tech has joined them to weed out the dissidents. But it's not inevitable that we join them.

And it is going to require us to take a stand. Just not in the way that most people — especially if they're angry — think is most effective. Look at the ratings of BLM. 78 percent of Americans, at the beginning of the summer, thought that they were swell.

That number is in the low 20s now. Why? Because violence doesn't work.

I don't know if you saw the fellowship of the ring, but if you did, do you remember when Frodo said: "I don't want to do this!"

He's lamenting having to face down the evil and he's just one guy. I'll never forget it because it was right after 9/11, that the movie came out. I'll never forget Gandalf's reply. He said: "So do we all who live to see such times. But that is not for them to decide. All we have to decide is what we're going to do with the time that is given us."

We can't decide what others are going to do. We can't control the dangerous Orwellian darkness that seems to be descending on America. All we can control is our response and strive to lead by example. If you know anyone in your sphere of influence who might be planning to attend one of these armed rallies in the coming days, beg them not to go. Do everything you can to stop them.

That's not a way to take a stand and it will not protect anything you hold dear and it will endanger the republic. It is what the other side wants.

So how do we take a stand?

The first thing I need you to do today is to help lower the temperature. It has been so hard for me not to respond to people on Twitter who have called me every name under the sun because I quoted the leading Holocaust historian last night on Tucker Carlson.

But see, that wasn't an attack on me, that was an attack on Tucker. If you can scare the guests from coming on to Tucker, you destroy Tucker. That's what they're doing.

Do not vent your anger on social media. At this point, it is probably just going to get your account shut down.

I want you to write this down and I want you to keep this in front of you.

Blessed are the peacemakers. For they will be called the children of God.

That means something today, much more than it did six months ago.

Blessed be the peacemakers.

Be a peacemaker.

And this is the hard part, you can't disconnect. Because things are moving too rapidly. You must stay plugged in.

But I want you to reach out to someone in kindness on social media. Encourage someone. Do not engage with the darkness. Be the light in the corner of your world.

You need to be a leader for what is to come.

And I know I'm asking you almost the impossible. I know you're angry and frustrated and it is gut-wrenching to feel that you're powerless to stop your nation from what you believe is sliding into the abyss.

You are not powerless. You are not voiceless.

I believe it too, with everything in me. I wish I was wrong. I hope that I am. I pray that I am. But know this: You are not powerless. You are not voiceless. You may be the only voice that anyone hears. Voices like mine will go away. I am trying to think of what I need to share with you before, God forbid, that ever happens. Because I cannot live with myself if I talked about something stupid politically and I find my voice silenced and then saying, I wish I would have said this or I wish I would have told them that.

You wield more power than you know. Not because of your voice or being able to call your congressman. You're more powerful than you know because you understand the real problem in America. The real problem in America is not political.

It is spiritual.

If you're like me when you get angry, you think that you are going to take on this challenge on your own — you are not being humble. You think you'll fix it. Everything that is happening to us is because we are an arrogant, out of control people.

We must humble ourselves. Please, you have the skill and the strength to endure the fiery darts that are going to come your way or already are. But this is a problem with our hearts.

You cannot reach someone's head without capturing their heart and no one is going to capture anyone's heart through violence.

Start in your own home and then reach out and if you're able, serve your neighbor. If you can, serve your local community. You must be a beacon of light in a very dark place. I'm going to ask you to do something you're really not going to like. And that's how I know things are from God. When I hear something or I think something and I'm like — oh crap, I don't want to do that — and you just know it it's right. You just know it's what God wants. And you're hoping that maybe you didn't hear it.

And it's so horrible. Because it's the last thing you want to do. But God is unlike many of our churches and preachers, He doesn't tell us what we want to hear. He doesn't have to pay for the church or get collection. Or be judged by how many people go.

Rise above the fray, with service and love, with malice toward none and charity toward all.

He'll say the same thing and he'll lose whole flocks. And they'll eventually start to go — oh wait, where is the Shepherd again?

But I have to tell you now some things that I want you to do. And they're not new. But I need you to hear me. I am asking you if you want to stand for the republic, I need you first to pray.

Pray like you've never prayed before. Pray for humility. Pray for guidance. Pray for peace. Pray for those people who you think you hate. Because you don't. Because hatred does not come from any good place.

Then I want you go out and serve someone in any way possible. On inauguration day especially, get your family and your children involved. Volunteer somewhere, take someone a meal. Do something to lift the spirits of hospital workers or your local police department.

Help a stranger mow a lawn, fix someone's car, pick up trash on the side of the highway. Do what you can do. But the most important thing is to do it with a sincere heart. And if someone asks you, why are you doing this? Just say, because I love my country.

Rise above the fray with service and love, with malice toward none and charity toward all.

Watch how the conversation went on radio HERE:

A pre-Inauguration Day plea: You wield MUCH more power than you know youtu.be