Glenn Beck: 1932 All Over Again?




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Congress couldn't agree on a budget, but don't worry about that. House Democrats have "deemed" the new $1.1 trillion budget as passed. "Deem and pass" allows Democrats to start spending money in 2011 without having to follow any real budget.

Meanwhile, President Obama's budget director, Peter Orszag, is now leaving the White House. He said, "I want to emphasize that it would be inaccurate to say that I have told the president personally that I'm leaving because of concerns about our fiscal policy."

Hmm. That's odd.

And former Clinton Labor Secretary and Obama economic adviser Robert Reich just came out and said: "The economy is still in the gravitational pull of the Great Recession — all the booster rockets for getting us beyond it are failing"

So big government is failing spectacularly and after a year and a half of Obama, it's starting to feel like 1932:

The average time needed to find a job has risen to a record 35.2 weeks

The budget deficit is above 10 percent of GDP

Home sales are down

Retail sales are down

9.2 million people are unemployed

But despite all of this, President Obama is taking a victory lap around the country. He's calling it "Recovery Summer." That's about as ridiculous as if BP went around the country right now to promote their environmental safety record. It doesn't add up.

History shows us, time and again, that big government spending is simply not the answer to national economic problems. But, here we go again down the big government path.

How does it keep happening?

Part of the problem is we have too many politicians like Pete Stark from California. Stark is a founding member of the Progressive Caucus and, as I showed you last week, he embodies everything about progressives we told you about: They think they are better than you.

Last week Stark was mocking the Minutemen over border security. Now listen to him in this interview with journalist Jan Helfeld about the national debt:

(BEGIN VIDEO CLIP)

REP. PETE STARK, D-CALIF.: The national debt measures the wealth.

(CROSSTALK)

STARK: The wealthier we are —

JAN HELFELD, JOURNALIST: The larger the national debt, the wealthier we are?

STARK: It's an indication of the wealth of the country. You're right.

HELFELD: So the more you owe, the more you're worth?

STARK: In federal accounting — in the national scheme of things, that's quite right.

HELFELD: So why shouldn't we borrow another trillion then next year?

STARK: Probably because — we should not necessarily borrow another trillion, but we will, inevitably.

(END VIDEO CLIP)

First of all, if you don't believe progressives think you are too stupid and have to be dragged to the right answers, just remember that clip. Secondly, more debt means we are wealthy? At the time of this clip the national debt was about $5 trillion. We're almost three times that amount now. We're rich! Where did we go wrong?

Stark went on to say this:

(BEGIN VIDEO CLIP)

STARK: Did you ever study economics?

HELFELD: A little bit.

STARK: Where?

HELFELD: In the University of Puerto Rico.

STARK: Oh the University of Puerto Rico? Do you have a doctorate in economics?

HELFELD: No, I don't.

STARK: A master's degree?

HELFELD: No, I don't.

STARK: How many classes did you take? What I would suggest —

(CROSSTALK)

STARK: They are simple-minded questions that don't relate to the realities —

(CROSSTALK)

STARK: If you would shut up for a minute. You're blabbing away here about something you don't know anything about.

HELFELD: I am just trying to ask a question —

STARK: You're making a lot of stupid statements, Jan.

HELFELD: So you think if the national debt increases, we become wealthier. So I don't see why you don't want to go for it — and go for two or three billion dollars —

STARK: It's why you probably never graduated from a very good college, Jan. And I'm not going to take the trouble to educate you here.

(END VIDEO CLIP)

I'd like to explain this to Congressman Stark and others who think like him. I'll speak slowly for the congressman. He should probably TiVo this — TiVo is a device that records TV shows and you can play it back. I didn't know if he knew that because he's been in Congress for 37 years now, so it's been a long time since he won that first election, in which his main complaint against his opponent was that he'd been in Congress too long.

Take an imaginary neighborhood with "diverse" economic backgrounds:

Person One makes $250,000 a year. They owe $500,000 on a $520,000 mortgage, they financed a $20,000 boat, a sports car and a summer cottage on the lake as well. Life is sweet. They don't have a lot of savings — they'll do that later.

Person Two only makes $45,000 a year. But, they've paid off their mortgage, they bought used cars and have no payments. They've saved money for a rainy day.

Now, the way Congressman Stark sees it, the richest person on the block is the guy with the boat and the sports car. After all, he's got the nicest stuff and the biggest house. But, what happens if they both lose their jobs and have to take one of those jobs that Americans just won't do? Or what if their income is significantly cut back?

Well, when that rainy day comes, the richest person on the block is the person only making $45,000 a year. Why? Well, they don't have lots of stuff, but they don't owe anyone either. There's no bank or credit card company breathing down their necks if their income is slashed. Their life changes, of course, but not as much as the rich guy with all the financed stuff. He's got to scramble to sell the house, the boat, the car. When he can't, banks and credit card companies are coming after him. He could borrow more money to try and keep up, but what has that done? Made him wealthier or just more in debt? All it does is buy some time before it all comes crashing down.

It's the same with the federal government. If IRS returns drop and they continue to try and make up for the shortfall by printing more money or borrowing more money, we just fall deeper into debt.

We're not wealthier. We've only held off the inevitable. But, then again, I'm not a doctor like the great congressman. Oh wait, he's not a doctor? And I almost forgot — I am. But it doesn't take a doctorate to read some history. It's not hard to see that we are repeating the same mistakes of the past. We are repeating the 1930s:

The Dow appears to be repeating the patterns seen during the Great Depression. After the crash in 1929, there was a brief recovery period in 1930. On July 8, 1932, the Dow bottomed out — closing the day at 41.22, an 89 percent drop from its pre-crash high; in October of 2008 stock market plummets 2,400 points in nine days

President Hoover responded by increasing federal spending by 50 percent between 1929 until the end of his term; George W. Bush abandoned the free market system to save the free market system

Unemployment over 20 percent by the end of Hoover's term; Unemployment was over 7 percent at the end of Bush — up from the 4.5 percent range

In 1932, Hoover increased top income tax rates from 25 percent to 63 percent; Obama is increasing top tax rates from 35 to 39 percent

FDR's policies included making unions stronger, regulating price controls, interfering with business and paying higher wages than the amount of productivity justified; Obama's "life work" is SEIU's life work. Obama has fired CEOs of companies and taken control of automakers and banks

FDR tried to revive economy with massive government spending and entitlements with the New Deal; Obama has tried to revive economy with massive government spending and expansion of entitlements with the stimulus, cash-for-clunkers, health care and financial reform, plus the takeover of student loan industry

Unemployment remained unresponsive and stayed stubbornly high throughout the New Deal and New Deal II; unemployment under Obama has gone up and stayed there, completely flat-lining despite the government "injections"

FDR blamed Hoover for the economic problems; Obama still blames Bush for "creating the mess" he has to "mop" up

In 1935, the Supreme Court struck down the NRA and in 1936, the court struck down the Agriculture Adjustment Act; today, 60 percent want a repeal of health care. Will the courts follow through?

In 1946, a successful GOP campaign "had enough" of Democrats; today, Tea Parties, whose universal issue is 'stop spending'

So we've followed Hoover and FDR almost step-for-step. Are we going to bottom out again and extend this slump just like FDR did? Well, we have to understand that there are critical differences between the 1930s and today:

Back then, the country had manufacturing. We could build ships, planes, tanks, etc.; today, we can't

Back then, our citizens didn't have crippling debt; today, we do

Back then, our grandparents saved their money; today, we don't

Maybe we could get someone really smart like Pete Stark to explain it to us. Oh wait, I forgot: It's people like Pete Stark who got us into this mess.

— Watch Glenn Beck weekdays at 5p & 2a ET on Fox News Channel

The fall of Lehman Brothers in 2008 marked the largest bankruptcy filing in U.S. history and economic collapse was felt throughout the world. But now China's own version of Lehman Brothers, Evergrande, is teetering closer and closer to that edge, too. On the radio program Thursday, Glenn Beck gave the latest update and predicted how it will affect Asian markets and what it could mean for America's economy.

Glenn explained why he believes a major collapse that is happening now in China will have a cascading effect into a "controlled collapse," a managed decline that will dramatically change America's economy and the way we all live.

"You will not recognize your lifestyle. Hear me," Glenn warned. "And that's not a right-left thing. That's a right-wrong thing. We're on the wrong track. I'm telling you now, there's new information and you are not going to recognize the American lifestyle. ... It could happen tomorrow. It could happen in five years from now, but it will happen. We are headed for a very different country. One where you don't have the rights that you have. And you certainly don't have the economic privileges that Americans are used to."

"The same thing that happened in 2008 is now happening in China," Glenn continued. "This time, it's going to take everything down. When it collapses, it will take everything down."

Watch the video below to hear Glenn break down the details:

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Justin Haskins, editorial director of the Heartland Institute, joined Glenn Beck on the radio program to expose a shocking conversation between two Great Reset proponents — Klaus Schwab, chairman of the World Economic Forum, and Christine Lagarde, president of the European Central Bank (Europe's equivalent to the Fed).

The way Schwab and Lagarde discuss the role central banks should play in establishing societal norms, determining your way of life, and defending against potential crisis is proof that the Great Reset is upon us, Justin explained. And the scariest part is that they're not even trying to hide it. The entire, unbelievable conversation has been published on the WEF website, which you can read here.

Glenn read an excerpt from the conversation:

Christine Lagarde: At the ECB, we have now wrapped up and concluded our strategy review, which was the first one in 17 years. And I was blessed to have an entire Governing Council unanimously agree that the fight against climate change should be one of the considerations that we take when we determine monetary policy. So at least the European Central Bank is of the view that climate change is an important component in order to decide on monetary policy. ...

Can we arrive at that trade-off between fighting climate change, preserving biodiversity and yet securing enough growth to respond to legitimate demands of the population? And my first answer, Klaus, to be firm, is that to have a way of life, we need life. And in the medium term, we do have major threats on the horizon that could cause the death of hundreds of thousands of people. So we have to think life, first. We have to think way of life, second. ...

So we have to think life, first. We have to think way of life, second. How can we come together to make sure that we secure the first priority, which is life, and also protect the way of life that people have? And make sure that the cost of it is not so high for some people, that they just cannot tolerate it. I think that the trade-off that we reach will probably require some redistribution, because it is clear that the most exposed people, the less privileged people are those that are going to need some help.

"Do you understand, America, what that means?" Glenn exclaimed. "You have elites, that you never elected, that are having these meetings ... deciding what is a legitimate need for you. And telling you that your needs are going to go away in your lifetime. You may not see a time where you get wants again. Just your needs are going to be addressed. Am I reading this wrong?"

"This is absolutely what is being said here," Justin agreed. "She's very clear that we need to make sure that way of life is second to life. We have to save all these people, hundreds of thousands of people are going to die from this supposedly existential threat of climate change. And their wants, and their desires, and their quality of living, all of that has to come second."

"This is a central bank saying this. This is not an elected official, who is accountable directly to the people. This is a central bank saying, we're going to print money. We're going to use monetary policy, to impose these ideas, to rework society in order to accomplish our goals," Justin added, addressing Lagarde's call for "some redistribution."

Will Great Reset elites — not elected by the U.S. — soon be dictating to the rest of the world? Watch the video clip below to hear Glenn and Justin break it down:

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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.

First comes the "crisis," then comes the expansion. The federal government is seizing on the January 6 Capitol riot to take carte blanche to do whatever it wants and weaponize the event to further empower the new overlords of our country — the intelligence community.

On Glenn TV Wednesday, Glenn Beck reveals what's happening with the U.S. Capitol Police and argues they've morphed into a new arm of the intelligence apparatus, boosted by a massive increase in funding and surveillance equipment and new offices OUTSIDE the Capitol building. The Biden administration has also hidden basic details regarding January 6. Why did officials refuse to release the name of the officer who killed Ashli Babbitt? Where are the 14,000-plus hours of CCTV footage? As any intelligence organization knows, it's best to operate outside the realms of oversight.

Glenn exposes the hidden hand of government that could be used to punish and destroy innocent Americans who are only guilty of holding the "wrong" political view.

Watch the full episode of "Glenn TV" 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.

The conditions in Afghanistan under the Taliban rule — for Americans, allies, Christians, women and more — continue to deteriorate, and the people there continue to plead that we will not forget them. On the radio program Monday, Glenn Beck gave an emotional update on current evacuation efforts, including the tragic story of one girl — an American passport holder — who was not rescued in time.

"I have a pit in my stomach like I haven't had in a while. What is happening in Afghanistan is both miraculous and horrendous," Glenn began. "What's going on right now one of the most amazing things I've ever personally witnessed — the evacuation of Americans, those [Afghans] who helped us, Christians that are dying, women that are under incredible conditions. I see things that I can't show you. I see the pleadings from people who are in safe houses, 'Please, don't forget us.' I see what they're being sent by the Taliban.

"If I die today, my entire life will have been worth it for what you have helped get done, in just the last three weeks. You have saved well over 5,000 people," he continued.

Fighting back tears, Glenn added, "I ask that you pray for those in the Middle East, that are in the midst of doing work, that a Moses-style miracle will happen. ... There are several people that are in dire need of medical care. Friday, we told you — along with the congressman from Oklahoma [Rep. Markwayne Mullin] who had just returned — [about] a father and two daughters that were blue passport Americans, and a mother who had a permanent residence, a Green Card. The daughter was very ill. And they thought, that if we couldn't get her out of there, that she would lose her legs. I got a call on Saturday morning, that we were too late, that she didn't lose her legs. She lost her life, waiting. There are now two Americans, instead of three."

Glenn showered his audience with gratitude, repeating that "well over 5000" lives have already been saved because of their incredible generosity, but lamented that there are still thousands more people yet to be saved.

Watch the video clip below to hear more updates from Glenn:

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To donate to these rescue efforts, visit NazareneFund.org or MercuryOne.org.

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.