Troubling Signs




Big Money with Steve Cordasco


WPHT - Philadelphia

GLENN: 888-727-BECK, 888-727-BECK. Friend of the program and host of Big Money, WPHT, Steve Cordasco. Steve, I want to talk to you about the bond market, what's happening here in the bond market today but please, you've got to -- we can't be CNBC because I don't even -- I mean, I barely understand the bond market as it is and most people just don't understand. So let's just talk about it as the indicator of what is really happening on Wall Street because the Dow is not telling us the truth.

CORDASCO: The Dow, Glenn, is not telling us the truth. A lot of the talking heads on some of the stations you mentioned again I don't think it right. What investors need to do and what smart investors do is they follow the money and to put it in simple terms, money is pouring into treasury bonds. Specifically if you look at the 30-year treasury bond, it has hit the lowest interest rate that we have seen in most of our life times.

GLENN: Okay, wait. Hang on just a second. Hold on, hold on, hold on. It's my understanding that this is the lowest since treasury bonds, 1976, this is the lowest they've ever been.

CORDASCO: Correct. Now, we're talking the interest rate, not the value of the bond. You've got to remember the value of the bond is going up because so many people are buying the bond, which is driving the interest rate down. To put it into perspective, right now the 30-year treasury bond will pay you 4.15%. Let that sink in. You're going to lock your money up for 30 years to get 4.15% per year.

GLENN: The only reason -- and every investor will always tell you, you want to make your money safe? The safest thing you can do is buy treasury bonds, and you don't usually buy treasury bonds because you're locking your money up for so long and the interest rate is not nearly that low but it is pretty low. But it is the safest thing you could do. So Steve, help draw the connection between -- I mean, like me, for instance, I thought about, you know, should I pay off my car or should I take that money and invest it some place? In the last few years you haven't paid off something because the interest rate has been so low, you could take that money and you could make 6%, 8%, 10% some place else and so you can actually make money instead of paying off that debt.

CORDASCO: Glenn, that's the theory. The problem is nobody -- it's not the reality. Nobody is doing that. Bottom line, we are a debted-up nation. This was talked about in 1992. This is a major, major setup for a catastrophe and what's happening in the market, the message being sent right now by what's happening in the bond market, what's happening in the stock market, we need to read the message. The message is this: Main Street, everyday households, our balance sheets are a disgrace. It's a catastrophe. There's too much debt. Corporate America's balance sheets are great. They've had cheat money. They've been able to expand and grow and do what they do. The bottom line, though, is the average everyday American citizen's Balance Sheet is in shambles because we're debted up as a nation and the Fed has to keep it going because we're consumers, buying stuff from overseas, getting other countries rich who are now buying Wall Street, Glenn. Citigroup and Merrill Lynch, our largest financial institutions being bought by communist countries and Middle Eastern governments.

GLENN: Okay. So what does the bond number tell you? With this kind of money pouring in to make it the lowest the treasury bond yield has ever been, what does that tell you is around the corner for America?

VOICE: People are running for cover. They are willing to buy treasuries at the lowest rates in history according to the modern recordkeeping system. It is telling you that what the Fed is doing and trying to do will not work. They are out of solutions and it's come time that we need to pay a price, and what the smart money is telling us, by sending this message, is that we better be on the lookout for another shoe to drop which, again, could send us into that deep recession that you've been talking about so well over the last couple of months.

GLENN: Steve, we're going to have you on TV tonight and we'll talk a little bit more about this and stay in touch, all right?

CORDASCO: Hey, Glenn, no problem. Whatever you need. Like they say in my world, stock markets for show and bonds are for dough and right now the bond market's sending a strong message to America.

GLENN: All right. Thanks a lot, Steve Cordasco. Remember, bonds are where you put your money if you want the safest shelter. I have not said that they were the safest shelter because I don't believe that the Federal government is in good enough shape over the long term. I don't know what it's going to look like in 30 years quite honestly but every person will tell you, oh, you think something really bad is coming? Buy treasury bonds. Buy bonds, treasury bonds, buy them. That's the safest place you can put your money. With the interest rate this low, you are asking for a lot of people to say, I don't think I can make more money than 4% interest coming. That's hard to believe. That is really, truly hard to believe that a lot of people will say, I don't think I -- I'm going to bet that I can't make more than 4% interest. That's staggering. We'll keep an eye on it so you don't have to.

During a lecture at the Yale School of Medicine's Child Study Center, a New York City-based psychiatrist told students and faculty that she fantasizes about "unloading a revolver into the head of any white person that got in my way," among several other shockingly race-hating statements.

In April, Dr. Aruna Khilanani — a New York-based forensic psychiatrist and psychoanalyst — delivered the talk called "The Psychopathic Problem of the White Mind" virtually as part of the Yale School of Medicine's "Child Study Center Grand Rounds," a lecture program for "trainees in child psychiatry, psychology, and social work, faculty, clinicians, and scientists."

On the radio program Monday, Glenn Beck shared several quotes from an audio recording of the lecture provided by Bari Weiss, a former opinion writer and editor for the New York Times.

Here are a few of Khilanani's statements from the audio:

  • "This is the cost of talking to white people at all. The cost of your own life, as they suck you dry. There are no good apples out there. White people make my blood boil."
  • "I had fantasies of unloading a revolver into the head of any white person that got in my way, burying their body, and wiping my bloody hands as I walked away relatively guiltless with a bounce in my step. Like I did the world a f***ing favor."
  • "White people are out of their minds. And they have been for a long time."
  • "White people feel that we are bullying them when we bring up race. They feel that we should be thanking them for all that they have done for us. They are confused, and so are we. We keep forgetting that directly talking about race is a waste of our breath."
  • "We are asking a demented, violent predator who thinks that they are a saint or a superhero, to accept responsibility. It ain't gonna happen. They have five holes in their brain. It's like banging your head against a brick wall. It's just like sort of not a good idea."

"We must take a stand. We must speak out, because this is evil," Glenn said in response to Khilanani's shocking lecture. "I don't care who you voted for, you know this is evil."

Watch the video below for more details:

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The prices of our houses and food are already rising fast, but they will skyrocket to record highs if we don't fix the problem soon. So what's causing the inflation?

On the radio program this week, Glenn Beck said he doesn't believe it's the fault of our loggers, farmers, or truckers — many of them are really struggling. But the big corporations that control these industries are making record profits, all while the Biden administration is making some very odd decisions that could make the crises even worse.

Watch the video below for more details:

Want more from Glenn Beck?

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The crisis at the border continues to worsen, with the U.S. Border Patrol recently releasing some shocking statistics that illuminate just how bad the situation has become. But Texas Governor Greg Abbott (R) is doing everything he can to prevent any additional unlawful crossings into the Lone Star State.

Abbott joined Glenn Beck on the radio program Wednesday to describe recent action he has taken to ensure that those who do cross into Texas illegally know they came to the "wrong state."

After noting that both President Joe Biden and Vice President Kamala Harris "have completely abandoned post as it concerns the Texas border," Abbott explained how "Texas is stepping up" to combat the flood of dangerous gangs and cartels, human traffickers and drugs he says are pouring into border communities.

"Beginning in March, I deployed a thousand Texas Department of Public Safety officers to the border. I deployed the National Guard to the border. And they made well over a thousand arrests of some of these criminals we talked about. They've apprehended more than 33,000 illegal immigrants coming across the border." Abbott said. "But because of the way the Biden administration has abandoned the border, we are now elevating our game. What I did yesterday, in response to more than a dozen counties along the border ... I granted their request for a disaster declaration," he added.

Abbott went on to describe how his disaster declaration gives Texas the authority to toughen penalties for lawbreakers, including criminal trespassing, smuggling, and human trafficking.

"We're going to begin arresting everybody coming across the border and charging them with criminal trespass and putting them in jail. They are coming in here, thinking they'll get the Biden free-ride, and go wherever they want to go. Not in the state of Texas. We'll start arresting them right and left, and putting them behind bars, and saying they came in to the wrong state."

Asked by Glenn if he is prepared for the inevitable "media onslaught", Abbott simply answered, "We're prepared to see a reduction in the number of people coming across the border — because Texas is enforcing the law, period."

Watch the video clip below for more:


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.

California has gone to hell. Homelessness and violence have spiked. Civil liberties and businesses have been destroyed in the name of "COVID safety." Children have been brainwashed with racist critical race theory. And yet, Democrats want to use California as the test model for the entire country. Your state and your town are next. They want their FAILURE to become YOUR FUTURE.

Dave Rubin, host of BlazeTV's "The Rubin Report," moved to Los Angeles about a decade ago. In that time, he's watched it descend into absolute chaos. While most of his news and comedy friends have fled, Dave tells Glenn Beck why he's riding it out and how the rest of the country must save itself from progressive policies and "evil" governors like Gavin Newsom — or else the great American experiment will be over.

Watch the full episode below:

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.