Glenn and David Barton look at slavery and its roots from 1619 to 1865. How did slavery start? Were the founders villain slave owners or enlightened? What is the WHOLE Civil Rights Movement? Who are the black heroes we’ve never heard of? This episode reveals answers to these questions and more.
©2024 MERCURY RADIO ARTS.
ALL RIGHTS RESERVED.
RADIO
October 24, 2025
Glenn Beck warns: Are Democrats putting ICE agents in the crosshairs?
Democrats IN CONGRESS are launching a “master ICE tracker” so radicals can know where ICE agents are at all times. Glenn Beck explains why this is a dangerous and potentially treasonous idea.
Transcript
Below is a rush transcript that may contain errors
GLENN: Now, I warned in 2008. I was sitting next to Linda McMahon.
What? Saturday night, we were at a dinner. And Linda McMahon were sitting next to me.
And we were talking about the teachers unions. And I said, I don't remember if you remember this, Linda. But I remember in 2008, there was a little story in the Los Angeles times. And I read this, and I thought, oh, my!
Trouble is coming.
The teachers unions in California had decided to remove one of their restrictions on teachers. And one of the restrictions was, you could not have ever been a part of the communist party, or anything that had -- you could have never been involved with any group that had tried to actively overthrow the United States of America.
And they removed that plank!
And I thought, why on God's green earth would you remove that? Now, this was before anybody thought, "Oh, there's lots of Communists and radicals and revolutionaries," okay? This was right at the beginning of the Obama administration. And before anybody really understood what we were facing.
And I saw that. And I remember going on the air and saying, hmm. Something is really wrong with the teachers unions. Look out. Why would you do that?
Well, we know why you would do that. That's what brought bill airs in. And everybody else.
And you can do whatever it is you want.
And it was in California.
I've told you about this teacher, in California, three times now.
I think the first time I talked about him was in now and then.
And he was at -- well, I was at Fox. And he was with La Raza, a/k/a, the race.
And I showed you something that he was saying. He was saying at the time.
This is not about immigration or immigrants.
This is about the global struggle against imperialism and capitalism.
And I said, how is this guy teaching in high school? How is this guy a teacher in high school.
I then showed you him, last year, or earlier this year. Time just gets away from me now.
During the LA riots, during the last 9 months. The LA riots, and he was one of the organizers of Union Del Barrio.
And he was one of the guys, who was out saying, we've got to stop ICE. We've got to track ICE. Whatever it takes on the streets. These are our streets.
Okay? Revolutionary.
He's just won from the California Teacher's Association, the Human Rights Award. Why am I bringing him up again? Because it's not about that. I just want to show you that the teachers unions are embracing him.
Okay?
He is now in the news today, because he was at an anti-ICE protest, where he stood in front of cameras and microphone, and said, "We want the ICE agents to know. You're not the only one with guns."
You are threatening the lives of civil servants. You are embracing a culture of death.
You are saying, I don't agree with the law! And so I will take the law into my own hands, and I will start shooting civil servants. Husbands, boyfriends, fathers. I'll just shoot them!
Because I disagree with them! And this man is still teaching in California. Now, let me take this a step further.
Representative Robert Garcia, at a press conference, announced with democratic lawmakers, their intention to create a master ICE tracker.
Listen!
VOICE: Over the course of the next couple of weeks, the oversight committee will be launching on their website, a master ICE tracker.
Where we can -- essentially, tracking every single instance that we can verify that the community will send us information on.
GLENN: So I want to remind you that the killer, or the -- the guy who attempted to kill ICE. Agents here in Dallas, just a few weeks ago.
Was using a tracker, exactly like that. Now this is our democratic representatives from the Democratic Party. That are now saying, they are putting a tracker together for ICE a little.
This is assisting premeditated murder.
I believe this is treason myself!
You are going against the law! And you are now tracking federal civic -- civil servants. This is like saying, I'm going to put a tracker on every police car.
No. Try this. Would you be allowed to put a tracker on every Democrat in Congress?
And show, where they are. I know, it's verified. They're at this restaurant.
It's verified that they're eating at this restaurant. I verified they're at their house right now. I verified they're going to this meeting, and they're going to go through this door. Would you be able to do that?
Of course not. Why? Because insane people would try to kill them! Could I put a tracker on Air Force One? Could I put a tracker on Donald Trump and tell you his every move and where he's going to be at what time, all the time?
I mean, we get close enough to that. But you would not be able to put a tracker on the plane. Why!
Because people could shoot it out of the sky!
And if you think he's Hitler, why not shoot it out of the sky?
This is lawlessness. Can the president send in the National Guard to these cities?
Yes! By request of the governor. Or, if it is impossible because of the local community, and local governments, state governments. If it is impossible for the federal law enforcement officers to enforce the law!
You are giving him no other option. And they want it that way!
They want him to send in the federal troops. They want him. They need him to do that. Because that will prove to all of their lackeys. All of the people who are not thinking at this critical time in our country.
It will give them proof, see, he is a dictator. He's taking over law enforcement.
No. He is protecting the lives of civil servants, who are just doing exactly what the law is enabling them to do and demanding that they do!
And you're targeting those fathers and mothers and sons. You're targeting them. What option does he have?
The left is creating this culture of death. And if you honestly think, I mean, remember, look at -- look at what they did, when you got out of line with the left, they cancel you!
How many people were big on the left, and then suddenly, you think Bill Maher is going to parties with everybody? They cancel you. You're dead to them.
Well, what do you think is going to happen?
You're on their side today. You get out of line with people who are building a culture of death, you -- read about the French Revolution!
It started all noble.
Let's get the king.
And before you knew it, they were turning on themselves.
You've betrayed the revolution! You're a traitor to the revolution. And they started putting their own people into the guillotines and chopping their heads off.
And I'm telling you right now, Chuck Schumer and the rest of the weasels in Congress, the people who allowed these radicals in, in the first place. In 2004, I said, "You cannot let Michael Moore into the presidential box at the Democratic Convention! You can't do it!"
Because they will eat you in the end! And that wasn't a fat joke.
Well, it might have been at that time, also a fat joke. But people didn't see it coming.
And I'm telling you right now. Chuck Schumer is afraid of a literal guillotine being rolled in front of his office or his house.
Why are they not doing all of this with -- you know, with the shutdown?
Why are they just absent and they're like, "Yeah. Yeah. We're just going to keep going?"
Why?
They're terrified of their own side.
Because they know their own side will kill them.
And they just keep encouraging it.
They want a Colour Revolution. I did this show last night on this. I've been talking to you about Colour Revolution forever.
I -- I -- I just -- oh, that I would have the voice of an angel. And I could shake the earth. I wish more people could hear the warnings and pay attention.
But that is not my concern. My concern is just to speak to you. Please, please, listen!
Colour Revolution is the plan. Civil War is on the horizon.
Unless we live like Christ and we stand for the truth, our own side is -- is starting to fracture. Because you're buying into all of these crazy conspiracy theories. It's not this difficult!
Restore the eternal principles. Stop going down these rose of conspiracy theories. That just divide you from me. And me from that person.
We must stand together. Let's just agree on the Bill of Rights.
Let's just agree on a constitutional republic. Let's just agree, God lives!
God loves us. We have to serve him, and the best way to serve him, is by serving our fellow man with love and choosing life!
If we get lost in all of the other stuff, we are done!
RADIO
October 24, 2025
Is Silicon Valley creating our cyborg replacements?!
Artificial Super Intelligence cannot be controlled, MIT physics professor Max Tegmark warns. It WILL take power if we create it. And meanwhile, Silicon Valley elites like Sam Altman are planning to merge man with machine - without consulting us first. Max joins Glenn Beck to discuss his efforts to end this insanity and convince the US and China to stop their race to ASI before it’s too late. And it revolves around a petition signed by a widely diverse group of people, from Glenn Beck to Yuval Noah Harari…
Sign the petition at https://superintelligence-statement.org/
Transcript
Below is a rush transcript that may contain errors
GLENN: Welcome to the program, Max Tegmark. It is an honor to have you on. I've been a fan of yours for a very long time.
MAX: It's an honor for me to be here.
GLENN: So -- so, Max, I'm seeing the statement that you have put out. And let's just -- can we go through it.
Here it is. We called for the prohibition on the development of super intelligence, not lifted before there is broad scientific consensus, that -- that it would be done safely and controllably, and a strong public buy-in, that's the whole statement. Right?
MAX: That is.
GLENN: And what do you hope. Because I've seen who you have studying. Here's the first five signatories. You ready? Steve Wozniak. Sir Richard Branson. Steve Bannon. Glenn Beck. Susan Rice. Prince Harry. Yuval Harari, which is mind-boggling to me. You have all of these leaders from all walks of life. You have faith leaders.
And it runs the spectrum.
What is it that we all have in common here?
MAX: Yeah. And you also have the most cited scientist in the world, Yoshua Bengio and Stephen Hanson. They are like my Einstein and Oppenheimer of today, who developed much of this technology and pioneering work. Saying their own work. What these all have in common is hilarious to see people express confusion.
This is a bewilderingly diverse group of people. Why don't they agree on anything?
It's because they aren't human. This is a question about, do we want the future where machines work where you live?
Or a future, which is all about the machines.
GLENN: So can you stop super intelligence?
I mean, we've had a conversation on this. You know, Sam Altman believes he's creating God.
And that's a terrifying. And there's a lot of people in Silicon Valley, that want to meet God. Of their creation. How do you stop this? China is rushing towards it.
We're rushing towards it. How do you stop it?
MAX: Well, let's start by talking just a little bit more what Sam Altman and people -- what folks want. And that I -- you know, how we can solve it. It's very doable. You know, I was just listening this morning, at some of the early writing of Sam Altman before his media team started telling him to tone down the rhetoric a little bit. This is a direct quote from a blog he wrote, called The Merge. When he said, we will be the first species ever to design our own descendents. My guess is that we can already see the biological boot loader for digital intelligence, and then save into an evolutionary tree branch. How does that sound to you? For the future for our children. Or we can figure out what a successful merge looks like.
But he's arguing in his speech, that we should merge with machines. And, you know, the average person listening to us right now on this program. Who asked them if they want to merge with machines?
GLENN: Nobody.
MAX: Or if they want to merge with machines. I was just playing with my 2-year-old son Leo this morning. I find that basically from 1776 -- someone will force my son to merge with machines, whether that's him or his parents or anyone really having a say on this. It's completely nuts.
There are a bunch of dudes in San Francisco, who had too much Red Bull to drink, should make these decisions for the rest of us.
GLENN: For all of humanity.
MAX: Yes. Indeed.
GLENN: The -- the race though is on. So how do you stop it?
MAX: Well, first of all, the lobbyists from these companies, keeps trying to convince us that it's unstoppable. That's the number one thing in the book, right? If a big, powerful country invades another country, the first thing they are going to try to persuade, don't bother fighting. It's pointless. Right?
So we have to make these decisions, when the same people say, it's stun stoppable. Are actually -- many are working for the companies.
Second, let's just look at the logic, you know. The argument is, you can never stop a new technology that can give a lot of money and power.
Because that's historically false. You know, I could make so much money human cloning. If I could clone you, Glenn, and a bunch of other talented people.
And mess with your DNA. And tweak you. And sell your services. You know, we didn't feel that as a society. There was a big discussion about this in the '70s. And the consensus around the world was, we could lose control of our species, if we start messing with ourselves in that way. And it became so stigmatized. So it didn't happen.
GLENN: There is -- there is a guy -- wasn't there a guy who did it know. Wasn't there somebody in China?
MAX: There was a guy. Yes, actually. This is such a great thing that you bring up. People often say, well, if don't do it, China is going to do it. well, there was a dude in China who did it. And guess what the Chinese government did with him? They sent him to jail.
Because they thought human cloning was a really bad idea. And the Chinese government. The Chinese communist party, really liked control. So the idea that they're going to let some -- some oddball in China do something. To sort of lose control of the human species, doesn't land well there. Right?
So there is where the optimism comes. Your first question, how can we stop it?
Of course, the predominance between the US and China. But there actually are two races going on here. There's the dominant race. Economic dominance. Military dominance. Technological. Cultural dominance. And the way it narrates, is we're building tools that are controllable.
Where there's a second race, who can be the first to build super intelligence the way we lose control over. And it wipes out humanity, maybe.
That's a suicide race. The way the US or China will compete for -- for predominance. Possibly doing something that will take away the power from both countries. I think of it as really analogous to something that has already happened already. The Cold War of the Soviet Union.
There was the race for dominance. Economic military might. We Americans won that one.
And then there was the race to see who can put the most nuclear creators in the other country?
And both the Americans and the Soviets openly decided to not nuke each other. And not engage with that suicide race.
Why? Was it because Reagan is on the stage? And looked each other in the eye. And hugged each other. And promised to not nuke each other.
No. There was, in fact, a trust. But it also wasn't necessary. Because we knew. The Soviets knew that it was suicide.
We knew that they knew, and vice-versa.
And that's all it took to avoid the suicide race.
GLENN: And so the suicide, you're talking with ASI is if China gets it, China would know, we'll lose control over it.
They're control freaks. And we'll lose control of our own country. We won't be in control. ASI will be running everything. Right?
MAX: Yes! Exactly. Exactly. Exactly.
GLENN: So how do you -- how do you deal then with people like Sam Altman?
I mean, I would imagine. I mean, because there will be people who have labs, and -- and compute time.
To be able to pursue this.
Can you -- can I catch those people before they go down that road? Is that even possible?
MAX: It certainly is possible.
You know, the question -- in the interest of these companies to make us think it's impossible, right?
So we shouldn't trust. But it's very possible.
Look, we do this with every other industry. Let's look at Biotech, for example. The industry that is now not doing human cloning, right? But they're -- they're doing fine, making a ton of money on other investments. Right?
And once upon a time, there were no regulations on biotechs. They could sell any medicine they wanted. In the supermarkets.
And the -- sometimes it's called tragedy. Sometimes it's called tragedy in China. Sometimes it's called a tragedy here. In the US, it was a town called Solidify (phonetic). You probably remember. Right?
It caused over 100,000 American babies to be born without arms or legs. And that triggered so much anger, that resulted in the political will to have biotech create safety standards. And now, it actually has a ban on selling unapproved medicine in the US. We can argue about how to make that system less efficient, more efficient.
GLENN: Right.
MAX: Stuff like that. But I don't know any scientist or people in biotech who wanted to abolish the FDA and legalize it. Right?
GLENN: Right.
MAX: And we have done the same thing with every other industry. Even if you -- if you visit one of these tech companies, and I go for lunch across the street. That restaurant, before they can sell their first sandwich, has to have a health inspector pitch in and show that they some basic safety standards, right?
Saying that AI companies should be the only companies in America, that don't have to meet any safety standards. It's really just asking for corporate welfare for AI companies.
GLENN: Okay. Okay. Hang on just a second. I want to take a one minute break. I want you to read this statement. They're asking for signatures. I have signed on to it.
There are plenty of people who I disagree on almost everything, that have signed on to it. There are plenty of people that are my friends, that have signed on to it. Really, really brilliant people. Faith leaders, et cetera, et cetera. We -- I think the reason why it's so diverse is because this -- this is it. This is the end of humanity, if we lose control of our technology.
It will become a master and not a tool. And I want you to go to futureoflife.org. Futureoflife.org.
Look for the super intelligence statement. It was just released a couple of hours ago. Superintelligencestatement.org.
You can go there and find it. Or at futureoflife.org. And sign it. And I want to ask -- I want to ask Max, what your signature means. And what -- what -- what is this going to be used for?
We'll that do in 60 seconds. First, there was a time when choosing a cell phone carrier wasn't just about coverage and price. It's about something much, much bigger now. Because every company you support, every monthly bill you pay. Every statement, you know, is something. A statement about what you value. The big cell phone companies who decided your money should help fund causes, that undermine many of our values. And Patriot Mobile is the only Christian conservative wireless provider. And they are putting principle back in a business, that I long time ago, lost its way.
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Make the switch today. Ten seconds. Back to Max Tegmark.
(music)
So what is your goal with this statement, Max?
MAX: Yeah. For your listeners there. Future hyphenated statement. When you go and add your support, if you like.
The goal of this statement is to make publicly known, that if you are concerned about this, you are not crazy. You're not alone.
You have an incredible amount of support from leaders across the political spectrum here.
Up until now, a lot of people who have this horrible feeling, right? Are afraid of speaking up.
They -- a lot of people have told me this. Because they don't want to sound like Luddites. Fearmongers.
You know, now is the time to -- to speak up and say what you think.
Because this is -- this is -- this is, Glenn. You're so right.
You know, the reason we're seeing such remarkably broad people agreeing on this.
That's also what happened if we actually got invaded from aliens in space, just like you said from the beginning.
If some weird spaceship started showing up and started shooting at us.
Everybody --
GLENN: Right. Right.
MAX: And that's what happens now. That's fundamentally also why we can stop this. Almost nobody wants this.
We also just released a poll showing that less than 5 percent of Americans actually want a race -- a race to super intelligence.
That's less than one in 20 Americans. Right?
And yet, we're having this stuff shoved down our throat.
GLENN: Agreed.
Max, I can't thank you enough for this.
And all that you're doing.
We need to have more conversations, about artificial intelligence. Artificial super intelligence. General intelligence. The world is going to change. And millions of jobs are either going to change or be lost, and it depends on how we apply AI. It's not something to fear if you realize it is a tool and you are the master.
But too many people are just going to use this. Their brain is going to go soft. And they will let it take control of their lives.
And make their decisions. Et cetera. And then if it becomes general intelligence or super intelligence, you're a slave to it.
And it -- it has to stop. It has to stop.
So if you would like to sign this, I have signed it.
And I urge you to sign this.
It's a very simple statement. We call for a prohibition on the development of super intelligence. Not lifted before there's a broad scientific consensus that it will be done safely and controllably. And a strong public buy-in. That's all you're signing. And you can go to super intelligence-statement.org. I -- I found it at FutureofLife.org. And you can -- you'll find it there as well. You scroll down the page. But superintelligence-statement.org.
I urge you to sign it and to pass it on to somebody else. This is a conversation we must have.
MIT physics professor and author of Life 3.0, Max Tegmark. Great talking to you, Max.
RADIO
October 23, 2025
FEMA blacklisted CONSERVATIVES? Biden's secret policy EXPOSED
The Left claims that President Trump is weaponizing the federal government following the indictments of former FBI Director James Comey and former Trump national security adviser John Bolton. Ignoring the fact that Biden's FBI tried to jail Trump before the 2024 election, damning evidence has come out that under the Biden administration, the Federal Emergency Management Agency secretly blacklisted conservatives and lowered their priority when it came to FEMA assistance. Where is the outrage?!
Transcript
Below is a rush transcript that may contain errors
GLENN: So they say that Donald Trump has weaponized the government. Okay. Then he turned the DOJ loose on his enemies. He's targeted John Bolton. And obsessed with James Comey. They've said it a million times over and over again.
Without ever asking, you know, who actually held the trigger here?
Okay. But for a moment. Just for the case of this argument, let's just say all of that was true. Let's say Trump had used the power of the state to punish those two people who had crossed him. Okay?
People like Bolton and Comey. Just say, for the sake of argument, that's all true!
These are men who said in the highest rooms of power, they have lawyers. They have money. They have microphones.
If that were true, it would be ugly. It would be dangerous.
And it would be limited!
Because what we just learned from the Department of Homeland Security. Is something far, far worse. This time, the target is not a political rival. It's not a Washington insider. It was you!
There's new news that's coming out today. According to the DHS privacy office report, which was launched after a bunch of whistle-blowers came forward. That now says that FEMA did not mishandle just a few cases.
They kept notes. They were making a list.
They tracked American -- Americans, their political and religious beliefs, during disasters. Not in theory, in black and white.
Let me give you some of the quotes: Angry political rant. Sign in yard states I'm a bitter gun owner, clinging to go my religion. Homeowner had a sign stating, "This is Trump country."
They -- they -- these are not comments, you know, about storm patterns. These are comments about people!
And when these people were flooded, they were homeless, they were desperate, and asked for help from the same government that preaches compassion and equity, they got something entirely different! They got silence. Delay. And sometimes, nothing at all!
The DHS report now confirms, quote, FEMA violated the privacy act of 1974, by collecting and storing data, tied to protected speech.
They were checking bumper stickers and writing you down in a book!
They logged gun signage. Seventy-two times. Trump, 15 times. Firearms, five times. Biden, twice.
The FEMA workers then. And we told you all this. But it was a conspiracy theory. Now it has been proven.
FEMA workers skipped homes, if you had a MAGA flag. Or a yard sign. And then they left notes. There was a political fire. There was a political flier, I'm quoting, so I didn't leave a FEMA brochure.
Quote, we don't recommend anyone visit this location, end quote.
That's not a clerical error here. That's a blacklist!
This is the same agency that airlifts people off of rooftops after hurricanes. That distributes food and shelter.
When nothing else works, and they were told to avoid Americans because who they voted for.
Not terrorists. Not not criminals. Citizens. You!
I will tell you, I have been in disaster after disaster. Much of it not of my own creating.
But natural disaster all over the world!
I've shown up at the hurricanes and the floods and the tornadoes. With help!
And not once did it even occur to me, to ask you, what's your political affiliation?
Not once did it even occur to any of us to say, where do you stand on the Second Amendment?
Who did you vote for?
What do you believe?
What church do you go to?
Never. Do you believe in God?
Never! That is absolutely 100 percent un-American. Un-American.
I read this report, the floods in Florida, and the tornadoes in Tennessee, and the hurricanes in South Carolina. Where people waited for days for aid, that never came!
And when it did come, because of pressure from people like us, survivors. Americans who lost everything received a 700-dollar check.
$700. Meanwhile, billions are being funneled to illegal immigrants.
To foreign wars. To bureaucracies studying climate equity. And now we know why.
Because they were busy making notes about bumper stickers.
I read this, this morning, and I saw it firsthand. But I couldn't prove it. But I saw it firsthand. And I reported on it, at the time.
But they could say, it was an isolated incident. And I could prove otherwise.
We can now. The report is now out.
This is as un-American as our withdrawal in Afghanistan. Why was that so offensive?
Because we -- we left in, A, humiliation.
That's the least of my concerns. We left in humiliation. We betrayed all of our allies. And we left people behind.
We never leave people behind. Never!
That's one of our highest rules! You don't leave people behind!
One of the biggest things about Americans, that we are generous. We are good! We're charitable. We help everybody. We are the world's lifeboat.
And now we find out we had a president, and an administration, that was making a political list. A blacklist. Where they would not give aid to Americans who are suffering!
You're taking my tax dollars, and if I happen to be the one that needs aid, I don't get coverage?
Because of who I voted for?
It's the most offensive thing I've heard of our country ever doing on aid. Ever! Can you -- can you remember anything like this, ever? I mean, they say, "Democracy dies in darkness."
Yeah. Well, why don't I shine a light on some of these things? It doesn't die in darkness, it apparently is dying in databases. The FEMA database quietly flagged citizens as politically undesirable.
Let me ask you this: What would the media have said or done if Donald Trump would had ignored those who lost their homes in California after the ravaging fire?
If he didn't just show up, it would be bad enough. Right?
But he showed up. He brought his cabinet with him! He brought FEMA. He brought relief. He tried to cut all of the red tape in California. Couldn't get that done. But he was there. Can you imagine if he just hadn't have showed up. Which Biden never did. If he hadn't have shown up. Worse yet, can you imagine what would be said, if you had found out, that Donald Trump -- his FEMA was making a list, and saying, they voted for Gavin Newsom. They voted for Joe Biden. No help for them on their house!
Can you imagine the outrage? I would be outraged. I am just as outraged that it happened under the last administration.
Why? Why am I outraged?
Because it cannot happen. It cannot happen under any administration!
You allow this to happen, and stand, good luck, America, on what you have left! Will anything be done? Will anyone go to jail?
Will the left be outraged by this?
You want to talk about no kings? What is a king?
Other than, let that serf die. We don't care about those guys. They aren't for the king!
You know, Mercury One has already rebuilt homes. We are -- we are moving people back into their homes every single day. I know it. Because I watch Mercury One do it. But not in California. We tried in California. Gavin Newsom, the Democrats, they won't help those people. They won't allow any help for those people. Their own voters they don't care about. If you get in the way of this leftist administration, these leftists, it doesn't matter. Ends justify the means. Let them die.
You know, they keep warning you about authoritarianism, but here it is. Cloaked in compassion. Branded with a FEMA logo. This wasn't rogue. Not a rogue agent.
This was not a one-off scandal. This was a database.
The DHS investigation says, political bias was systematic, dating back to at least September 2021.
That means, that while the administration accused conservatives of conspiracy theories, it was literally compiling lists.
And the media went right along with it. And will the media ever tell you this story?
When what was her name, the FEMA administrator Criswell testified before Congress, in 2021, she said, "This was an isolated case."
Well, unfortunately, your files tell a different story. It's not isolated. It was national. And it was deliberate.
Homeland Security Secretary Kristi Noem said, quote, for years, FEMA employees under the Biden administration intentionally delayed much needed aid to Americans suffering from natural disasters on purely political grounds.
This is not your political enemy! This is your neighbor! That's not mismanagement. That's moral rot!
It's not just another Washington scandal. This is a betrayal of the covenant between citizen and state!
But they're not going to tell you about that. The media won't talk to you about that.
The Democrats won't do a damn thing about it.
None that side will condemn this. You, but they'll talk to you today, about how trump is destroying the White House. Oh, my gosh.
He's destroying the White House.
And he's spending hundreds of millions of dollars on a ballroom of his own money.
And other people who are donating!
And, you know what, they're not donating in secret. It's all listed right there.
They don't go through Arabella advisers or the Tides Foundation.
They give it straight, and it's reported straight. So you know who built that building!
My gosh.
They'll report on the White House today. But they won't report on your house. You know, when FEMA didn't show up because you were on their list. The moment this government decides that you are less worthy of rescue because of how you vote, your faith, your flag, a bumper sticker.
The -- the -- you don't need darkness for democracy dying. The republic is dead!
There is no republic.
A republic represents all voters! It ceases to exist. You do have a king.
You know, weaponizing law enforcement against political opponents is really bad! But weaponizing disaster relief against ordinary citizens, people standing on their roof, waiting for a helicopter that never comes, is something absolutely pitch black dark!
If your politics can determine whether you live or die, we cease to be a republic. We cease -- we cease to deserve the rights God gave us.
RADIO
October 23, 2025
AI gold rush: Is the next market disaster on the horizon?
The AI revolution promises to change everything, but what if it’s leading us straight into another financial collapse? Glenn Beck and economist Peter Atwater break down the eerie parallels between today’s AI boom and the 2008 housing crash, revealing how speculative hype, overvalued tech giants, and circular corporate investments are inflating a dangerous bubble. Could this “AI gold rush” be the next market disaster waiting to happen?
Transcript
Below is a rush transcript that may contain errors
GLENN: Is it not a bubble?
I don't know. Are we close to AGI or not close to AGI.
Again, I don't know.
Is it to change things? Yes. I saw a story in our show prep today. I'm not going to get a chance to get it. It's about other countries that are building these giant server farms. Their electricity and their water is being shut off because all of it being diverted to these big server farms. And if we're not careful, that's exactly what's going to happen to us.
Peter Atwater is a guy that Stu and I have been talking about for a while because he's comparing this AI bubble. He's like, "Look, I wanted to show you a chart. I'm not smart enough to figure out the chart. But let me show you a chart, and I want to show you a chart that I did in, like, 2007 or 2008 with the housing bubble! Wow, they kind of look exactly the same. And it's a little frightening."
Peter is with us now. Peter Atwater from the College of William & Mary. He's an adjunct lecturer there. He's the guy who coined the term K-shaped recovery.
Welcome to the program, how are you, sir?
PETER: I'm great, Glenn. Thanks very much for having me.
GLENN: You bet. Okay. So can you explain the housing -- or, not the housing bubble.
The AI bubble. Do you believe it is? And if so, why? And what does that mean?
PETER: I do believe it is.
And I study confidence and its impact on what we do.
And so what I see in the AI bubble is a lot of similarities to what we saw during the housing bubble. Where everybody wants to be involved.
There's a social frenzy to it. There's a want to, you know, make a lot of money, to see the opportunity in it.
There's a lot of speculation.
And what matters so much, to me as a researcher, is that this network that existed in the -- in the housing bubble. Where mortgages were sliced and diced.
And you had these conveyor belts that moved everything from, you know, mom and pop's house to folks all over the world.
GLENN: Right.
PETER: Now, it's within the AI system. Where you have enormous amounts of capital moving, but also equipment.
So it looks a lot like the Just In Time Network that we saw stumble during COVID.
GLENN: Okay. That doesn't make me happy. But there's a difference between the housing bubble, where it was all being inflated and resold and repackaged. And this, which does seem to be a game-changer on productivity. Where housing was not.
This seems to be like it could be a real game changer for economies. Agree or disagree?
PETER: Oh. There's no question, it will be a game changer. But we can think about it the same way we said dot-com was going to be a game changer. Like railroads. And all of these other things that we have in terms of speculative mania.
There's real productivity. Real improvement that comes from it. But what happens is that investors anticipate it happening far sooner, in far larger scale.
And much more profitably than it ever does.
GLENN: So what are you predicting? How is this going to -- how is this going to happen?
What's a bad case scenario, not necessarily worst?
I don't know if I can handle worst. Bad case scenario, and realistic scenarios.
PETER: Yeah. So to me, the realistic scenario is that valuations come down dramatically. At the same time, the build-out continues at a much lower pace.
And eventually, maybe a decade from now, it all settles out.
But in the meantime, there's a lot of financial pain that's going to go along with it. Particularly because today, more than 40 percent of an S&P 500 ties to AI.
GLENN: Like seven companies. Right?
PETER: Seven companies, and -- and the ones that are closest to them. So that, you know, retirees, pension plans, you know, folks that invest in index funds, have a super sized allocation to AI whether they realize it or not.
GLENN: Can you give me an example of this happening in history, that's not housing, but more industry?
PETER: Sure. You can go back to radio. In the -- in the 20s. I mean, RCA was a mammoth weight in the markets. Because people were incredibly excited about it.
You saw it even -- go back even further to canals. We -- we love new technology. Particularly where we can identify the efficiencies that we see coming from it.
STU: One of the things that's really interesting about the trends you've highlighted, Peter, is this sort of circuitous relationship with these companies. It's too complicated to go through all of it.
Just to give you one quick relationship here. And tell me if I'm understanding this right.
OpenAI, of course, buys a bunch of chips from NVIDIA. They're spending a ton of money with NVIDIA. NVIDIA is investing $100 million into OpenAI. OpenAI is -- has a 300 billion-dollar cloud deal with Oracle.
Oracle is spending tens of billions of dollars in chips with NVIDIA. And then NVIDIA is investing into OpenAI. There's a bunch of these arrows, that are pointing in this circular directions. And it seems like companies are flowing money back and forth to each other, and all these arrangements. And you wonder if there's any disruption here.
Are we looking at some sort of short-term collapse of all this stuff.
PETER: The -- the dog eating its tail phenomenon is extraordinary here. And what's so unusual about this one is, in prior bubbles, the -- the conveyor belts were among smaller participants.
But in this one, we had the largest technology companies in the world, to spinning money around, among themselves.
It looked like one of those Esther drawings, where the waterfall just keeps moving in perpetuity. And the challenge, particularly given that OpenAI is at the center of it, is that this is a company that is barely profitable. That is committing to hundreds of billions of dollars in commitments.
STU: Hmm.
GLENN: So what does it look like if it starts to fall apart? And what are the signs we should be watching for?
PETER: So what we know right now, is that everybody wants to be affiliated with AI in some way.
And so you end up with these late arrivals to the party.
And typically when a bubble bursts, the last guy to the party, is the first to leave. When you think of this in the context of a mortgage bubble.
Where it was the subprime lenders who showed up right at the tail end.
And then collapsed first. So I'm -- I'm watching to see these companies that are barely AI-related, that have tried to position themselves as being AI industry leaders. Who are likely to fail in the not too distant future.
They just need rarefied air to exist.
GLENN: Like what companies?
PETER: I don't have specific names to throw out there.
GLENN: Sure. Okay.
PETER: But they're typically smaller highly leveraged offerings. To very, very compelling, but untested technologies.
GLENN: Now, this would be -- I mean, if it collapses, I mean, that would be horrific for our economy.
But also, what -- what happens with the race with China? I mean, China is deeper into this than we are, at like crazy.
How -- how does this affect China, what happens to the race, how does -- I mean, how does this not move forward?
PETER: So I am by no means a China expert, but I would expect that if our confidence in AI begins to fall, confidence in AI more broadly will come under question.
STU: Hmm.
PETER: So they then face questions in terms of policy maker credibility. In terms of, why did you commit so much to this?
No difference than a CEO faces that test, when a bubble bursts.
GLENN: So what does success look like to you?
Because I'm not sure -- I had a really fascinating conversation a couple of weeks ago.
And he's going to come on the show in a couple of weeks with Max Tegmark, who is a brilliant AI ethicist. And we were talking about AI, AGI. And he believes that that may not be happening. And he makes a great case on this.
But is that the goal, or, I mean. Because what -- what is the goal that we're not going to hit, that would fall short?
That would cause this kind of stuff?
PETER: So I think you -- we tend to fall short in terms of immediate usage. So volume short.
But also profitability.
You know, if you go back through dot-com bubble. They all imagined this huge, you know, pot of gold at the end of the rainbow. And you're seeing the same wild fascination with the potential profitability for AI.
And, again, that may come, but it's unlikely too come at the speed and magnitude that people now expect. I mean, we're -- we're fans of science.
GLENN: Boy, I mean, in a way, that would be really, really good.
Because that -- what I worry about is AI advancing as quickly as everybody says it is. And then what happens to all the jobs so quickly. I mean, you just can't absorb that kind of an impact. If it happens that fast. So I don't know which is better.
PETER: So typically, we'll see a backlash against new technology. I mean, if you go back to the 1920 bubble burst. And you saw this backlash to, you know, innovate technologies like the vacuum. And the ironing board. And all these things that people said, took jobs away. Well, we'll have that same thing in all likelihood. And this time, too, to a point you made earlier, likely compounded by a greater awareness of the environmental consequences of this, and also, the cost that it creates in the average consumer, in terms of the utility bills.
GLENN: Hmm.
Can you explain one more thing? Because you're the guy who invented the K-shaped recovery. And as Stu and I talked about the K-shaped recovery -- can you explain that? K-shaped recovery.
PETER: Sure. So when COVID hit, I immediately saw that if you were a white-collar worker who could work from home, your confidence improved immediately. Whereas, if you were a, you know, somebody who worked if a warehouse. Or stocked shelves in the supermarket. Or hospital worker.
Your confidence didn't start to improve for a long time.
And from that, what I have seen is that the economy that results from these two different tracks of confidence, are vastly different.
And today, those are the top, whether it's because of the markets, or because of corporate earnings, growth. Those at the top feel invulnerable.
And they're spending like it. They're investing like it. They're living like it. They're living like there's no tomorrow.
Well, on the other hand, those at the bottom today, aren't sure how they will make it through the take. They're delinquent on their car loans. They're now worried about health care costs. And so to me, this K that -- this divide has created two classes of Americans.
You have the increasingly desperate, and those who feel invulnerable.
GLENN: That does not sound stable long-term.
PETER: It doesn't feel stable to me too.
And I worry that those who are in a position to do something about it, we're spending so much of our time in this country, fighting between the left and the right, and we're not seeing that our biggest divide is up and down.
That those at the bottom, there's a bipartisan hopelessness that exists.
GLENN: Hmm.
PETER: That I feel like Washington is not paying enough attention to.