Americans are struggling to pay rent, with millions expecting to be evicted by the end of August. In fact, evictions are spiking in major cities across the U.S. Additionally, car payments — for both new and used cars — have skyrocketed to INSANE levels. And it’s not just America. Prices and electricity costs around the world prove one thing: Our economy AND our energy crisis is worsening. In this clip, Glenn shares 8 numbers — plus a SHOCKING story from England — that prove we’re facing more financial difficulties ahead. Plus, he explains WHY this is happening.
Below is a rush transcript that may contain errors
GLENN: There's some really disturbing things coming out. The pandemic eviction moratoriums are expiring now. Rent payment relief programs. And all across the country.
And about 8.5 million people are behind on rent, as the end of August. That's 3.8 million, that say they're somewhat or very likely to be evicted over the next few months. Where are these 3.8 million people going to go? Rents continue to tick up. They're now topping $2,000 a month, for the first time on record. Rent is $2,000 a month? That's the average?
That's an increase by almost 25 percent. Evictions are spiking in major cities. In Tampa, Florida, evictions were 52 percent above average in August.
In Houston, they were 90 percent above average. Minneapolis, St. Paul. Ninety-four above average. And I don't know how you get a house there. They are burning them down as fast as they can build them, I'm sure. Also, the average payment for a new vehicle is now $667 a month.
That's the average, 667 a month. That's up nearly 15 percent from a year before.
The average amount borrowed, rose 13 percent. Used car buyers are also borrowing more. The average used vehicle loan jumped 18.7 percent. To $28,534. With an average monthly payment of 515.
That's up 17 percent. The average new car or truck is now 46,259. I don't know how we're going to keep doing this. And, listen, there's something that is very, very disturbing. And it is the farmer situation. Farmers are in trouble. And they're only going to -- it's only going to get worse. The FDA, now in the 750 billion-dollar inflation reduction bill, they provided money for the USDA to give loans. I'm sorry. Give grants, to minorities, that want to be farmers. Because equity is our biggest problem right now. No. No.
I don't think that's our biggest problem. Fertilizer probably is big problem. Foreclosure on farms, that's probably a big problem.
Water, that's a big problem. But I don't think diverse work on farming, is right this on the top of the list, that should get the attention of the United States government. By the way, the EU has just unveiled emergency measures to curb soaring energy prices.
Gee, I wonder what those will be. They're working on emergency intervention right now. By the way, do we have the cut of the Germans, and the faces they were making, with Donald Trump, at the UN? Look at. Watch this.
There's the German delegation.
TRUMP: Germany will become totally dependent on Russian energy, if it does not immediately change course.
GLENN: Look at them laugh. Snicker. What is this guy talking about?
Stop. This -- this is amazing to me.
STU: Did you see the silly music there? Did you hear that?
That was showing you how silly the plan was from Donald Trump. That was a liberal website, we should point out, that made that video. And they put the silly music behind it, to mock Donald Trump. They're laughing at him in Germany. They laughing now?
GLENN: I don't think they're laughing now. If they don't change course now -- that was two years ago, three years ago.
If they don't change course now, they're going to have serious energy problems, and be beholden to Russia.
They're not laughing now.
STU: Our friend Carol Roth, who comes on the show a lot to talk about the economy, had just tweeted this story.
This is, my mum. You can tell where this comes from. My mum owns a small cafe. Her electricity bill has just jumped from $12,000 a year. So 1,000 bucks a month, to $64,000 a year.
GLENN: Oh, my.
STU: Gosh. She's working out her options. But more than likely, she will be forced to close. This is happening all over the continent.
GLENN: In England, energy prices are going up tenfold. Tenfold. By October. Tenfold.
People are not going to afford this. And why? Why is this happening?
You know why this is happening. Because the ice is melting. Because we're in this existential threat. No. It's not why it's happening. It's because people want to get more power and more money. That's really all this is about.
By the way, listen to this story. A massive ice sheet in Greenland is set to raise global sea levels by nearly a foot, by the end of this century.
In a melting event driven by human-caused climate change. The findings in the journal nature climate change, showed that 3.3 percent of green land's ice sheet will melt. That's 110 metric tons of -- sorry. 110 trillion metric tons of ice. The ice loss will prop about 10 inches of sea level rise between now and 2100. You know, I'll take this seriously, when Obama sells his house, on the island.
When all of the liberals move out of Malibu. When they all sell their -- their homes, which are going to be completely destroyed. And we should get off, because we're destroying the natural habitat. We're destroying the beaches. We're destroying all of that. When they start selling their house, then I'll believe it's serious.
Or at least I'll believe they're serious about it. But right now, I don't think they're serious about it. And I don't think it's serious.
Well, prove me wrong. Start moving out of those areas. Start moving to higher ground. No. Second thought, don't. Because I don't want you anywhere near the mountains.