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Bernanke said what?

March 04, 2008
 Radio Clips

The Glenn Beck Program

GLENN: There you go. By the way, Ben Bernanke gave a speech today I think in Florida, if I'm not mistaken. He gave a speech today. Listen to this. If this doesn't -- and Stu, I want you to listen to this. Tell me what this says to you. This is the head of the Fed.

STU: Yes, sir.

GLENN: Now remember, you're like, we're not in a recession.

STU: No, we're not. No, we're not technically.

GLENN: I mean, you might believe we're going that way but we're not.

STU: What does (mumbling) We're not. There's no disagreeing with that. It hasn't happened yet. It may be happening but it hasn't occurred.

GLENN: Let's just say when the job numbers come out, what is it, next week or a couple of weeks, when the job numbers come out and we see the job numbers, I think the next job numbers or the ones after it we can officially call this a recession. Let's just say we're in a recession.

STU: Is that how it's measured? A recession is not measured by job numbers.

GLENN: Well, that is part of it.

STU: I mean, it's certainly part --

GLENN: Because there's no growth.

STU: Well, and that's an indicator but that's not --

GLENN: Okay.

STU: I'm just trying to make sure you're factual here.

GLENN: Yeah, yeah, whatever.

STU: Just trying to help.

GLENN: Let me ask you this because you're like, oh, Mr. Doomsday man. Tell me how else you would interpret what Ben Bernanke said today. Ben Bernanke said, I believe -- try this on for size -- I believe that banks should consider just rewriting the mortgages that are sketchy, that people are having trouble with, rewriting them to a lower amount. So in other words, if you took out a $400,000 mortgage, it's now, the bank is just going to call you up and go, you know what, you're having a hard time; you only owe is $200,000.

STU: Not a lower interest rate.

GLENN: Not a lower interest rate. Not even what Clinton says, you know, I'm going to freeze interest rates, I'm going to freeze everything, I'm going to make you only -- I'm going to let you only pay the interest for an extended period of time. None of that. This is, I believe the banks should consider lowering the amount of loan that they have to pay back.

STU: Not even, not enforcing them to do it. Like one of the Democrats' proposals was forcing them to have a judge to be able to write down. Not even that.

GLENN: Ben Bernanke's saying the banks should really consider that.

STU: I'm sure they have considered it and then they took three seconds and then they moved on to something else.

GLENN: So let me ask you. The chairman of the Fed says that but also says, you know, looks like we might be headed for a recession but, you know, I don't know, I don't know. He's at the same time saying maybe the banks should just cut everybody's loans. What? That's insane!

STU: Sounds like a terrible idea. I mean, to me --

GLENN: Does that also sound like maybe some people think it might be a little worse than what everybody is saying? It's not like, boy, it's been a really bad Tuesday. You know, it's like having a slow day in your bakery. I grew up in a bakery and it would be like my dad saying, boy, it's been an awfully slow Tuesday; we should sell our car. I'm like, what?

STU: It does -- I mean, clearly they are talking about obvious problems, particularly in housing and in relationship to the banks. I think there's just some validity to the idea that banks, it would be in their best interest to not let everyone default. And that's part of it. It's like if you are going to have all these people default, it's in their best interest to -- not the Government telling them to do it but they themselves saying I'd rather not just write all this down.

GLENN: Correct.

STU: I'd rather get some of this money.

GLENN: Now, let me ask you this question. How does --

STU: I'm loving, I'm loving the condescension here. It's outside of the glass.

GLENN: No, no, no.

STU: It's a little bit different, a little different word kind of but it's coming out fantastically so far.

GLENN: Not to you, it's really not. It's really not. I'm just trying to understand, I'm trying -- Stu, we had this conversation last night on, I can't understand how people think any of this stuff is logical. I can't understand. So let me ask you this question, and I'm looking for an honest answer. If somebody can answer this, this is great.

STU: Sure.

GLENN: How does anybody think that saying the banks should take a $400,000 mortgage and just say, you know what, let's call it $200,000. That $200,000 has got to come from some place and that some place is somebody that invested that money. So it's not just the bank. It's the person that was investing in the bank, shareholders and everybody else. Who thinks it's logical that money's just not going to completely dry up when people are like, wait a minute, you just cut what you owed me in half, you just cut my -- you just cut my profits in half. It doesn't just affect the bank. There's little old me, too.

WATCH: Race-Baiters Be Damned: 3 Big Lies About Racism DEBUNKED

Straight from the Marxist con of critical race theory are three big lies about "systemic racism" in America that are debilitating to our nation: the lie that policing in the U.S. is thoroughly racist, the lie of voter suppression, and the lie of equity as the solution to solve "racism." Despite the evidence disproving these lies, they grow stronger, thanks to Democrats and activists with selfish interest in these narratives, who, along with their media partners, spread the sinister message that everything in America is racist by default and only massive government intervention can save us from ourselves. President Biden, Vice President Harris, Chuck Schumer, Nancy Pelosi – every Democrat on the national stage sees racism in literally everything at this point.

In this precarious time for America, Glenn Beck and North Carolina Lt. Gov. Mark Robinson join together with data and the truth to fight back against the race-baiters ripping us apart.

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.

WARNING from a survivor: Is China’s horrific past America’s terrifying future?

America has always been the land of the free. But as the line fades between the socialist, woke Left, and the Democratic Party that controls our government, are we diving headfirst into Marxism?

On his BlazeTV exclusive show, Glenn Beck spoke with Li Schoolland, who grew up under Mao's cultural revolution in China, and never did she think she would see the same warning signs in America. But now, she has a horrifying warning for us all.

Watch the video clip 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.

'YOUR voice makes a difference': Coca-Cola takes a 'pause' on woke initiatives after BIG boycott

Earlier this year, Coca-Cola became the poster child for how a corporation could shove leftist ideologies onto its consumers. The company suspended advertising on Facebook in a push to censor former President Donald Trump, published a manifesto about racial equity, and demanded all legal teams working for Coke meet certain diversity quotas.

But now, after Trump, Sen. Ted Cruz (R-Tx.), Sen. Rand Paul (R-Ky.), and many other conservative voices called for a boycott of the company's products, Coca-Cola appears to be shifting directions.

The Washington Examiner reported that the company issued a conciliatory statement after conspicuously failing to appear on a published list of hundreds of corporations and individuals that signed a statement denouncing the Georgia voting bill.

"We believe the best way to make progress now is for everyone to come together and listen respectfully, share concerns, and collaborate on a path forward. We remained open and productive conversations with advocacy groups and lawmakers who may have differing views," the company said. "It's time to find common ground. In the end, we all want the same thing – free and fair elections, the cornerstone of our democracy."

Then last week, Coca-Cola Co.'s new general counsel, Monica Howard Douglas, told members of the company's global legal team that the diversity initiative announced by her predecessor, Bradley Gayton, is "taking a pause for now." Gayton resigned unexpectedly from the position on April 21, after only eight months on the job, to serve as a strategic consultant to Chairman and CEO James Quincey.

"Why is Coca-Cola 'taking a pause' on all of these? Because you have been standing up," Glenn Beck said on the radio program Monday. "You and others have been standing up. Your voice, it's the power of one. Your voice makes a difference."

Watch the video below to hear more form Glenn:

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.

'The problem is NOT racial': Bob Woodson, civil rights activist who survived segregation, counters 'race grievance' LIES

This week on "The Glenn Beck Podcast," civil rights activist and Woodson Center founder Bob Woodson joined Glenn to call out the leftists in the "race grievance industry," like the Rev. Al Sharpton and Black Lives Matter, Inc., who, he says, are "profiting off the misery of their people."

Woodson lived through the appalling segregation laws of the last century and has a much different message about what it means to be "oppressed" than the so-called "anti-racist" activists today.

Woodson said he believes the real struggle for impoverished minority communities "is not racial." He argued that leftists "at the top" derive "moral authority" by claiming to represent "so called marginalized groups," while they prosper at the expense of those "at the bottom."

"There's nothing worse than self-flagellating guilty white people and rich, angry black people who profit off the misery of their people," Woodson said.

"I call what Sharpton and some of those are doing is worse than bigotry. It's treason. It's moral treason against their own people," he added. "The only time you hear from them is when a white police officer kills a black person, which happens maybe 20 or 21 times a year, but 6,000 blacks are killed each year by other blacks. So, in other words, their message is black lives only matter when taken by someone white, which means you are betraying the black community when you turn your back on 20 children that are slaughtered and you don't march in that community and demand that those killers be turned over to the police."

'The problem is not racial," Woodson asserted. "The problem is the challenge of upward mobility. Any time you generalize about a group of people, blacks, whites, Native American, and then you try to apply remedies, it always benefits those at the top at the expense of those at the bottom. ... It's a bait and switch game where you're using the demographics of the worst of these, to get resources that helps the best of these, or those who are prospering at the top. So, if I was the president, I would say an end to the race grievance business, that America should concentrate on the moral and spiritual free fall that is consuming people at the bottom."

Watch the video clip below to catch more of the conversation, or enjoy the full podcast here or wherever you listen to podcasts:

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.