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GLENN: I want to play some audio of -- this is a local news report?
GLENN: Of a solar panel company here in America that's having problems. Listen.
VOICE: "Solyndra was the epitome of what the government envisioned to be our green tech future. President Obama came to tour the solar panel production line. So did Governor Schwarzenegger and Senator Barbara boxer. Confidence was so high that Solyndra got a $535 million Stimulus Program loan to build this new factory along Highway 880 in Fremont. Now comes word it will shut down its older plant down the street. 40 employees will be laid off, 150 contract workers won't be renewed. The reason is price competition from lower cost Chinese solar panel makers. Solyndra says it needs to cut its expenses so it can drop its prices."
VOICE: "Today we would be somewhere in three to $4 per watt basis. We need to be at a $2 per watt basis all in which is fully installed with panels and mounts on rooftop."
VOICE: "Suddenly the future isn't as bright as it was a year ago and taxpayer money is on the line. Solyndra's new shiny plant cost $733 million. 535 million came from federal funds. Only 198 million from private funds. So the government stake is 73 percent."
VOICE: "According to a filing by Solyndra with the Securities and Exchange Commission, if it were to default on the $535 million loan, the Department of Energy would end up owning that brand new fabrication plant as well as the land underneath."
GLENN: So let's make sure I understand this.
PAT: In one year.
GLENN: Half a billion dollars, half a billion dollars went into this plant. They're about to default on it. The new green economy, they're about to default on it, and if they do, the Department of Energy owns this plant.
PAT: And the land underneath.
GLENN: And the land underneath.
PAT: And why they can't compete with Chinese solar panel companies?
GLENN: Not only Chinese, Indian as well. Do you know what President Obama is doing -- the green economy coming here in the United States. Solar panels. Do you know what he was saying today? He was talking about the green economy that we are changing over to a green economy. And he's very excited because we have a partnership with India. We're going to need solar panels.
PAT: Wait. I thought we were making new jobs --
GLENN: We're going to buy them from India. We can't make them here. You and I know that we can't compete against India.
PAT: I thought it was the new green energy jobs.
GLENN: No, those plants are going out. The Department of Energy is going to make those solar panels.
PAT: We were going to save or create like eight million new jobs in the green economy.
GLENN: No, Spain has already done this. They lost two job for every one they corrected.
STU: Two and a half.
GLENN: Thank you for correcting that. I would hate for it to go uncorrected.
PAT: Was he talking about saving Indian jobs then?
GLENN: I'm not sure which jobs he was thinking about saving. But this is the insanity that we're in right now. It's everything that we -- it's everything that we told you. Now, when we originally met, the Globe met after World War II, we met in Brenton Woods, New Hampshire. This is called the Brenton Woods One Conference. It was to decide the gold standard. We're going to be the gold standard. We have the world's gold, and we're going to develop the currency and everybody will have our currency and you'll hold our currency because we won't violate the gold standard, because you can trust us. And so the world did. And then Brenton Woods Two happened. The reason why Brenton Woods Two happened because we used to spend ourselves into oblivion with the great society and the Vietnam War and we decided we wanted it all and our politicians told us we could have it all. We started devaluing our money. We started printing more dollars than we had for gold. And the world freaked out. And so there was called Brenton woods two. And what we told the world then, in 1970 -- what was it, 1972 -- is we will destroy our industry. We won't make things here any more. Now, they didn't tell you that. But that's what they told the world. We will buy our crap from you, because we want it all. And so we went from the largest lender nation to the largest debtor nation, and we destroyed. And when the steel mills closed, and they're closing down in Allentown and all these people said, oh, this is so horrible, it was designed to close these plants. We now have the new green movement. We close -- we were the ones that made incandescent light bulbs. How many jobs were lost, with the flick of George Bush's pen we closed all of the -- I think they were G.E. plants for incandescent light bulbs, and all those jobs went overseas to China. We intentionally destroyed our industry because we were letting the rest of the world catch up. And now we are intentionally destroying our dollar so the rest of the world can catch up. That is what's happening. Now I've told you today that there are things you can do to prepare. And I want to remind you of the story of the three little pigs. I'm going to tell the story on what we all remember. And Pat's going to tell the story as it really happened. Walt Disney tells us this great story of the three little pigs. The first little pig was busy playing all day and he built his house of straw. And the wolf came and knocked on the straw door and said: Little pig, little pig, let me come in. The pig said not by the hair on my chinny chin chin. And the wolf blew the house down and the pig escaped to his brother. His brother was still lazy, not as lazy as the first pig, but still lazy. That brother had a house made of sticks. And the wolf then got to his brother's house and said: Little pig, little pig, let me come in. And he said not by the hair on my chinny chin, chin, I'll huff and puff and blow your house in and because of the sticks, because the other brother didn't prepare either. And so both little pigs ran to the third house. This was the pig that took the time to prepare, because he knew a wolf could come. And so all three little pigs were inside. Little pig, little pig let me come in. Not by the hair of your chinny chin chin. I'll huff and puff and, blow your house in, he couldn't. So he goes through the chimney. The third brother had a pot of boiling water. The wolf goes down the chimney into the pot of boiling water and they have a hairy wolf stew. All three pigs are there. Here's really what happened in the way the story was originally written.
PAT: Lazy first brother builds the first house out of straw. The wolf comes, knocks on the door, says: Little pig little pig, let me in. Not by the hair of my chinny chin chin. He huffs and he puffs and he blows the house down and eats the first pig. He goes to the second house, built of sticks, and he says: Little pig, little pig, let me come in. Not by the hair of my chinny, chin chin. He blows the house in and he eats the second little lazy pig. And he goes to the third house, with the smart, industrious prepared working family pig, who built his house out of bricks. And he tries to huff and puff and blow his house in. He can't. Then he tries to trick him in other ways by telling him, you know what, there's some new berries down the street the farmer has all kinds of great berries, I'll see you there about 5:00. So the pig comes at 4:00, gets all the berries and eats them. That happens a couple of times. The wolf gets so angry he tries to climb down the chimney where there is a boiling pot and he's boiled to death.
GLENN: And eaten by the one pig who was smart enough to prepare all the way from the brick house to the going earlier to get the food before the wolf was there, all the way to, hey, I should boil a big pot and put some carrots in it, because he's going to come down the chimney.
STU: You can see why he left out eating the other characters part of the story.
GLENN: It's not as happy a tale.
PAT: But it shows you cannot prepare and still be okay, when in real life, not necessarily the case.
GLENN: No. If you want to have the three little brothers, here's what happens. The two little brothers run to the third brother's house and the third brother exacts some sort of charge. He exacts some sort of payment. Now, maybe the other pigs work for the third pig, for the rest of their life. Maybe he says, well, then you're going to have to do X, Y or Z or I'll leave you out in the cold. But make no mistake. If it goes the Disney way, where the two little pigs that didn't prepare come running to the third pig's house, if it goes that way, those two little pigs will either be left out in the cold to be eaten or they will become slaves to the third little pig, or the three little pigs will all be in there together but it won't end happily ever after, because at some point the third pig will say: You know, this isn't any of your stuff. Get the hell out of my house. I let you in to help you and now you think you own it all. Get the hell out of my house.
PAT: Then he'll be accused of the media being a hater pig or hoarder pig.
GLENN: Or whatever kind of pig, but it doesn't end well for the third pig if there's only one prepared pig. So let's not be unprepared pigs, shall we? This is why Disney didn't make it this way. Because it just isn't happy. Be a happy pig. Got it?