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GLENN: I want to talk to those people who have listened and you may not have moved on my words before. I talked to a woman yesterday. She said, Glenn, my husband and I have listened to you for a long time. She said, I was listening to you one day with three years ago when you said, please, if you're in the stock market, please get your money out; someone must have something remaining, please get your money out. She said, we listened to you then. She said, I heard it and I was going to talk to my husband. My husband came in the door and he said, honey, I need to talk to you, I just listened to Glenn Beck and he said get the money out and it just sounds right to me, we've got to get our money out. She said, you saved, you saved our money. Let me tell you something. I didn't. Because that call went out to millions of people and very few people actually acted on it. Those who did saved their money. I could be wrong. I'm not an economist, I'm not a I'm not an expert on society or religion. I'm not an expert on anything. I come to you as a, just a regular Schmo that quite honestly is an undereducated man. I'm a self educated man. I am an entertainer. No matter what the press wants to use that as a smear, that's who I am. That's what I've always done with my life. But I'm talking to you now as a citizen and as a dad.
I want to give you what I have told you in the last four years. When it comes to the economy, I told you that we weren't headed for a recession; we're headed for a depression, the ultimate depression. I have told you, be very careful with your money. I have told you, I don't know why anybody has their money in the stock market. It's bogus! I have told you and gotten so much heat for saying that the Dow would end up, if it was lucky, at 5,000. I have told you, make a decision on your home. I've told you that I've been trying to sell my home now for, what, two years? But I live in the Northeast in town where it's 95% Wall Street. I have friends who built, who built a $5 million home. That's what it cost them to build it, a $5 million home. They sold it for 1.5. Almost every home in my neighborhood is up for sale. I told you things weren't going to get better; buckle up. I told you that the rich are getting out.
Now let me give you the headlines from today. All of those things I have been hammered for. I told you these things three years ago. I've also told you I don't know the timing of things. I can see over the horizon on some things, I can see the general direction of where we're headed, but I don't know when it's going to happen. It could happen tomorrow, it could happen five years from now. I don't know. I also, I also don't have any idea why I have this ability to see over the horizon other than it's my job. We all have our job, and you in your job, no matter what it is, it's a calling. You have the ability to listen, if you want to be in California, to the universe, or listen to the word of God for your calling in your family in your personal life. Well, my calling is to be on the radio every day and comment about what's happening. And quite honestly if it hadn't have been for my bottoming out, if I hadn't lost everything, if I hadn't have lost my friends, my family, my fortune, my house, everything, if I hadn't have lost everything, and the most important thing was my good name, my ability to look a person in the eye and say, no, really, this is true, and have anybody believe me. If I hadn't have lost everything, I wouldn't have been to a place to where I said, I will never tell a lie because all I want is someone to believe me again when I say something that is true. When you do that, life becomes very easy because you no longer have to keep track of what you said, but extraordinarily hard. Because you say things that you don't want to say. You say things that are unpopular. Is there enough money in the world? Is there enough fame in the world for someone to put themselves in a position to where they know how they'll be remembered in history and it won't be good? Is there enough money? Is there enough fame? The answer to that is no. How evil and irresponsible would I be to have the platform that I have. What kind of monster would I have to be to have the platform that I have and say these things if I didn't believe them? How insane would I be? There are those within the sound of my voice that say, damn right, just as insane as I think you are. There is not enough money and fame for me to live the rest of my life with people like you saying that about me to my children! So maybe you're the one that might be a little misguided. Because it's those voice that have been telling you not to listen to me because the Dow at 5,000 is crazy, because a total collapse of our system is out of you've got to be out of your mind to believe that! We're America! That will never happen! That we're in a depression, we're headed for a depression, not a recession. "That's crazy talk! He's fear mongering!" Those are the voices that are controlling most of this country right now.
Here are the headlines today. Worries about recovery deepen. Hindenburg Omen, which you heard about on this program. Hindenburg Omen happened again last week. The Hindenburg Omen means that there's a 77% chance that the market will correct itself by at least 5%. The Hindenburg Omen, when it happens in September or October, has been the has been the crash of 19, what was it, 1989, the crash of 1929? Does October or September come to mind? It happened again last week. If it happens once, there's a 77% chance of a crash. If it happens twice, all bets are off, as I told you two weeks ago. It's happened twice, and it almost happened three times, in the last ten days.
Next headline: Investors are scattering to safety. Next one: Drop in home prices renew pricing fears. The largest drop in home prices the largest drop in home sales since LBJ. Next headline: Dow faces bouncy ride to 5,000! Next headline: CNBC, economy in depression, not recession.
Look , if you have listened before and haven't acted, maybe you have regretted that. If you have listened before and have reacted because you've seen the pattern, you've seen that I'm not right all the time, but I've got a pretty good track record. I have a much better track record than Joe Biden who says we're moving in the right direction. I beg of you, I beg of you, please, please, please listen to what I have to say today. Please.
[NOTE: Transcript may have been edited to enhance readability - audio archive includes full segment as it was originally aired]