GLENN: All right. Now, here are the predictions that I made on the air last year and let's see how many of them are accurate. Let's go to 1, 2A, please. 'Britney Spears in the next 30 days will wear underpants.' I believe that's accurate.
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STU: No, I think you're completely wrong on that.
STU: What evidence --
GLENN: From that show I believe she was in --
STU: What evidence do you have of that? There's plenty of evidence to the contrary. What evidence do you have that she's worn underwear? That's absolutely wrong.
GLENN: 1-3B, please. Housing will be up this month and the next few months and then it will start to decline by the end of the year. Housing will be down. More in a second.
GLENN: Somebody who is, you know, smarter than anybody on this program that happens to be like, track that date. If that happened this year, that's the kind of thing that I was talking about, that they would make a major move and what they did is they took that border town and they are smuggling weapons through there and they have really put a stronghold and a chokehold on that part of the Middle East and that is -- that's Iran. And that's the kind of stuff I was talking about.
STU: Well, you're saying if that happened before then, then you were just echoing a prediction that had already occurred. If it happened in 2006, then what the heck was the significance of making it in 2007?
GLENN: No, because if it happened -- because I think that that is the kind of thing that they were going to do. That is a significant move. That is a major --
STU: But you can't take credit for it if it happened before you made the prediction.
GLENN: No, no.
STU: So I want a buzzer. I want a buzzer.
GLENN: It may have been what I was talking about.
STU: You are guilty until proven innocent. Buzzer time. It's buzzer time.
GLENN: Wait a minute. I --
STU: Thank you.
GLENN: Now, there were also some -- there were also some listeners that called in.
STU: Yeah, lots of listeners. And that's actually what we need today, too. You have to make a prediction. Again listen to the rules. It has to be something that's going to happen in 2008. Don't tell me about what's going to happen in 2060. It's 2008. All of them need to be this year. Anything, anything. Pop culture, technology, war, economy, presidential election. All that stuff's on the table. But it's got to be this year.
GLENN: Yeah, all right. So before we get to some of the last predictions, let's get some new predictions. This one's from Wayne in Tampa, Florida, WFLA. Hello, Wayne, what's your prediction for the year?
CALLER: My prediction, it's a stretch, Glenn, but Britney Spears will die of an overdose in 2008.
GLENN: Wow, that's probably very likely.
STU: That's not a stretch.
GLENN: No, that's not a stretch. That's probably very likely. Sad but very likely. All right, Wayne, thanks a lot.
Let me go to Brad listening to us in St. George. Hello, Brad.
CALLER: Glenn, my prediction is that prime interest rate will go down to 5 3/4 by September of 2008.
GLENN: And then at what point does it get up to 10?
CALLER: At what point does it get up to 10?
GLENN: Say not in 2008, right? Is that what we're talking about here?
CALLER: Yeah, we're talking about 2008. We're talking about 2008. Okay, 5 3/4.
STU: That's a very specific prediction, I would say.
GLENN: It is, it is. All right, thanks, Brad. I've got to tell you something. If the interest rate, if they take this interest rate and they open the valves on this interest rate, we are in deep, deep, deep, deep trouble. You cannot open this valve very much more. You've got the -- they are not going to -- they are not going to fool with this interest rate for very long. If they open it, they'll open it a bit. If they open it a lot, we're in deep trouble because you will see the inflation shoot through. And we've talked about this on the program once before because it is so unbelievably tedious that it just makes my head hurt but it is the M2/M3 measurement of inflation and it is -- we have stopped measuring, the government has, has stopped now measuring how much money they're actually printing. They are printing more money than they have printed in quite possibly ever and they started printing more money when the Government stopped tracking how much money. You can still take a bunch of figures out there and add them all up and go, wait a minute, there's more money in the system now. But it requires an awful lot of work to be able to do that and the people who are doing that work, big banking firms and people who are looking at the economy, they are doing all of that work and they are seeing that the Government in the middle of the night is printing money.
STU: I don't know that I can let you off there, though, because for right now that prediction I have, if they lower interest rates, we are in big, big trouble, we need something more specific.
GLENN: No, if they open the valve significantly, if they lower interest rates significantly.
STU: What is significantly?
GLENN: If they go and they open up the interest -- if they open up the valve on the interest rates and they lower the interest rates and then the next month they lower it again and then the next month they lower it again.
STU: That would be 3/4 of a point you would say or a point? Maybe if one of them is a 1/2 point cut?
GLENN: I don't know. I don't -- and I don't feel comfortable making that kind of prediction.
STU: All right, significant. We'll leave it at significantly.
GLENN: If they just continue to cut the rate. If they repeat the pattern that caused this bubble, if they repeat the pattern that Greenspan was in.
STU: Keeping them very low.
GLENN: Keeping them very low and cutting them, we will be in trouble.
GLENN: Because you will not be able to control inflation.