Glenn Beck: Bailout Blues


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GLENN: The lead editorial in the New York Times today, how not to prevent foreclosures. I told you that we would have absolutely not a leg to stand on if you didn't stand up and say no bailouts. Listen to this. They are talking about John McCain and how he talked about the economy on Tuesday, blah, blah, blah. The nominee's view of the economy is skewed as is his view of the government's responsibility to protect and help aid its citizens. His suggestion that federal aid might wrongly reward undeserving homeowners sounded both mean spirited and economically naive." Mean spirited, hmmm. Standing up and doing the right thing, taking responsibility for your own. I say it about Bear Stearns. Let them fail.

"And then there's the double standard," quoting the New York Times. "He seemed less concerned about the government helping reckless bankers endorsing its role in preventing the bankruptcy of Bear Stearns." Reckless bankers? There was a run on Bear Stearns but now all of a sudden it's reckless bankers. I'm not throwing the big guys underneath the bus because it's popular. I say throw everybody under the bus. Anybody who had responsibility for it, you know what? Too bad! It's too bad for you. Now they want more regulation. Clinton is saying that they fear a Japanese style recession. Of course there's going to be a Japanese style recession. I'll lay out the comparisons of what -- remember that was a real estate bubble that popped in Japan. They paid way too much money on their real estate. So there was a real estate bubble. It popped; everything contracted. What they did in Japan is exactly what our Fed did here. They said, "Oh, we can get this out," and they opened up the valves. The difference is we're already in debt. The Japanese are not. The Japanese, their problem was they were sitting on their bundles of cash. They saved; we spent. They saved. So they took interest rates and brought them down to zero, they did everything they could. The Yen tanked. They sat there like that for ten years because they couldn't get people to spend money. Those people had money. Where's our money? Where's our money? We don't have any money. We spent the money. The Government doesn't have money. Everybody spent it, and it's bogus money. And as soon as the Fed understands -- they've opened up the valve almost as far as it can. There's another story today here: Busy Fed might need to reload. Concern emerging on hedge holdings and risky securities.

That's the other -- you've got that. You've got the equity in another story. You've got all these things that are like, uh-oh, wait a minute, there's this problem on the horizon. There's no more room for the Fed to open up. Remember the Fed always does two things. They either open up too far, they either overshoot it or they undershoot it. They never get it right. It's either too much or too little. They've opened up this thing almost to the point of no return. When you open up those valves, you start printing money and inflation goes up. You've got to close the valve at some point. At some point there -- because they didn't -- remember they didn't cut the rate entirely. They didn't open it up full bore. They were holding it back because they knew more trouble was coming. So we're going to hold a few, a little bit back and then we'll open it again. At some point they're going to open up that valve and just like you do when you're at summer and the water's off and you're like, oh, jeez, why isn't this working and you open the valve all the way and there's nothing there, when they open that valve up and nothing in the market moves, they're going to know, holy crap, and somebody behind them's going to say, shut the valve, shut the valve, shut the valve! It will be too late. It will mean they've printed too much money. And so how do they repair that? By jacking the interest rates up and shutting that valve down as tight as it can. I don't know what those interest rates will be but then how do you pay for the equity in your house? How do you pay for the equity loan? How do you pay for the mortgage? How do you pay for the variable rate? How does anybody do business in here because they are already sitting on the cash. We're going to make cash more tight? Don't be fooled. Don't be fooled by people telling you, "Oh, everything's okay" because that leads to panic when something goes wrong. Just be prepared. Let everybody else panic. You be prepared and everything will be all right.

Acclaimed environmentalist and author of "Apocalypse Never" Michael Shellenberger joined Glenn Beck on the radio program Wednesday to warn us about the true goals and effects of climate alarmism: It's become a "secular religion" that lowers standards of living in developed countries, holds developing countries back, and has environmental progress "exactly wrong."

Michael is a Time "Hero of the Environment," Green Book Award winner, and the founder and president of Environmental Progress. He has been called a "environmental guru," "climate guru," "North America's leading public intellectual on clean energy," and "high priest" of the environmental humanist movement for his writings and TED talks, which have been viewed more than 5 million times. But when Michael penned a stunning article in Forbes saying, "On Behalf of Environmentalists, I Apologize for the Climate Scare", the article was pulled just a few hours later. (Read more here.)

On the show, Micheal talked about how environmental alarmism has overtaken scientific fact, leading to a number of unfortunate consequences. He said one of the problems is that rich nations are blocking poor nations from being able to industrialize. Instead, they are seeking to make poverty sustainable, rather than to make poverty history.

"As a cultural anthropologist, I've been traveling to poorer countries and interviewing small farmers for over 30 years. And, obviously there are a lot of causes why countries are poor, but there's no reason we should be helping them to stay poor," Michael said. "A few years ago, there was a movement to make poverty history ... [but] it got taken over by the climate alarmist movement, which has been focused on depriving poor countries, not just of fossil fuels they need to develop, but also the large hydroelectric dams."

He offered the example of the Congo, one of the poorest countries in the world. The Congo has been denied the resources needed to build large hydroelectric dams, which are absolutely essential to pull people out of poverty. And one of the main groups preventing poor countries from the gaining financing they need to to build dams is based in Berkeley, California — a city that gets its electricity from hydroelectric dams.

"It's just unconscionable ... there are major groups, including the Sierra Club, that support efforts to deprive poor countries of energy. And, honestly, they've taken over the World Bank [which] used to fund the basics of development: roads, electricity, sewage systems, flood control, dams," Micheal said.

"Environmentalism, apocalyptic environmentalism in particular, has become the dominant religion of supposedly secular people in the West. So, you know, it's people at the United Nations. It's people that are in very powerful positions who are trying to impose 'nature's order' on societies," he continued. "And, of course, the problem is that nobody can figure out what nature is, and what it's not. That's not a particular good basis for organizing your economy."

Watch the video below to catch more of the conversation:

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Dr. Voddie Baucham, Dean of Theology at African Christian University in Lusaka, Zambia, joined Glenn Beck on the radio program to explain why he agrees with Vice President Mike Pence's refusal to say the phrase "Black Lives Matter."

Baucham, who recently drew national attention when his sermon titled "Ethnic Gnosticism" resurfaced online, said the phrase has been trademarked by a dangerous, violent, Marxist movement that doesn't care about black lives except to use them as political pawns.

"We have to separate this movement from the issues," Baucham warned. "I know that [Black Lives Matter] is a phrase that is part of an organization. It is a trademark phrase. And it's a phrase designed to use black people.

"That phrase dehumanizes black people, because it makes them pawns in a game that has nothing whatsoever to do with black people and their dignity. And has everything to do with a divisive agenda that is bigger than black people. That's why I'm not going to use that phrase, because I love black people. I love being black."

Baucham warned that Black Lives Matter -- a radical Marxist movement -- is using black people and communities to push a dangerous and divisive narrative. He encouraged Americans to educate themselves on the organization's agenda and belief statement.

"This movement is dangerous. This movement is vicious. And this movement uses black people," he emphasized. "And so if I'm really concerned about issues in the black community -- and I am -- then I have to refuse, and I have to repudiate that organization. Because they stand against that for which I am advocating."

Watch the video below to catch more of the conversation:

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We're going to be doing an amazing broadcast on Thursday, July 2nd, and we will be broadcasting a really important moment. It is restoring truth. It is restoring our history. It is asking to you make a covenant with God. The covenant that was made by the Pilgrims. And it's giving you a road map of things that we can do, to be able to come back home, together.

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On last week's Wednesday night special, Glenn Beck revealed where the Black Lives Matter organization really gets its funding, and the dark money trail leading to a cast of familiar characters. Shortly after the program aired, one of BLM's fiscal sponsors, Thousand Currents, took down its board of directors page, which featured one of these shady characters:

Ex-Marxist professor and author of "Beyond Woke," Michael Rectenwald, joined Glenn Beck on the TV show to fill us in on the suspicious change he discovered on the Thousand Currents webpage and the Communist terrorists who is now helping run the organization. (Fortunately, the internet is forever, so it is still possible to view the board of directors page by looking at a web archive from the WayBack Machine.)

Rectenwald revealed the shocking life history of Thousand Currents' vice chair of the board, Susan Rosenberg, who spent 16 years in federal prison for her part in a series of increasingly violent acts of terrorism, including bombing the U.S. Capitol building, bombing an FBI building, and targeting police for assassination.

"Their whole campaign was one of unbelievably vicious, murderous cop killings, assassinations, and bombings," explained Rectenwald of Rosenberg's terror group known as the May 19th Communist Organization or M19.

Watch the video below to catch more of the conversation:


Glenn's full investigation into the dark origins of the funding behind Black Lives Matter is available for BlazeTV subscribers. Not a subscriber? Use promo code GLENN to get $10 off your BlazeTV subscription or start your 30-day free trial today.

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