RADIO

Airplanes will KEEP BREAKING if we don't abandon THIS

Boeing is once again in the spotlight for all the wrong reasons. This time, a door plug fell off an Alaska Airlines jet mid-flight. So, what's going on with Boeing? Glenn reads a piece from author Porter Stansberry, who breaks down 2 major decisions Boeing made that took the company from a poster child for engineering to a company facing possible bankruptcy: First, Boeing switched its focus from engineering to "financial engineering," and then, it fully embraced ESG. "We will continue to have planes fall out of the sky" as long as ESG is king. But that isn't just true for airlines, Glenn says: "Until our government gets away from this craziness, America's republic will keep falling out of the sky."

Transcript

Below is a rush transcript that may contain errors

GLENN: So I got something from Porter Stansberry.

And I want you to listen to this.

A year ago, we published a tire warning about a mega cap American stock.

This was the only mega stock we told investors to avoid. It's no ordinary business.

It's America's most strategically important company.

Listen to that. America's most strategically important company.

We said it would soon collapse.

On January 27th, 2023, the headline was, coming soon, the Boeing collapse. How did we know?

Well, for the last 20 years, there hasn't been a company in America, that has embraced more bad ideas from financial engineering to ESG. Than Boeing.

In 1997, Boeing merged with fellow aerospace manufacturer McDonnell Douglas in a $13 billion stock swap. It was a match made in hell. Boeing was known for quality, McDonald was known for financial engineering, with a focus on cost-cutting.

And the company share price.

Although the Boeing name survived, it was McDonnell Douglas' attitude that prevailed.

McDonald's CEO Harry Stonecipher, who took over the day to day operations of Boeing immediately took a carving knife to Boeing's highly paid engineering staff.

In May 2001, Boeing management made a physical break with its engineers, manufacturing headquarters. Stated Seattle while corporate moved to downtown Chicago, 1700 miles away.

That split symbolized the growing stance between the builders and the bosses. To say the company's engineers were disenfranchised, doesn't describe it. Boeing Boeing's entire culture was erased. CEO stone cipher even bragged about what he had destroyed. Quote be when people said I changed the culture of Boeing, that was the intent. So that's like a business. It's run like a business, rather than a great engineering firm.

Hmm. I don't know if you know this, but making airplanes fly really requires a great engineering firm. But maybe that's just me.

Today, both Boeing's CFO Brian West and CEO David Calhoun are formerly senior GE finance people, and they've done to Boeing, what they did to GE: Destroy the balance sheet.

From 2010 to 2019, Boeing spent $44 billion on buying back its own shares, while adding $50 billion in debt.

This reduced the share count by 23 percent, and sent the stock price up 200. But the underlying business, bean counters cannot build airplanes. Boeing's planes began falling out of the sky. As a result, free cash flow plunged to negative 4.3 billion annually by 2019. Today's bankruptcy of Boeing grows more certain. Cumulative net income over the last three years, is negative 20 billion.

And the company has $52 billion now in total debt. Interest expense is currently 2.5 billion a year.

But that's going to move much higher as Boeing's at the time will be downgraded to junk. But never fear. Investors have nothing to worry about. With one of America's greatest and most important companies spiraling towards bankruptcy.

Stephanie Pope is the chief operating officer of Boeing.

She holds a bachelor's degree in accounting, from Southwest Missouri State University.

And an NBA from another intellectual powerhouse, Lindenwood University.

She also has zero engineering background.
Now, why would someone with this kind of background be placed in charge of operations, in the world's leading aerospace engineering firm?

Maybe it's because she is the executive sponsor of Boeing's women inspiring leadership. A group dedicated to increasing gender diversity, awareness.

Boeing's planes keep falling apart.

These outcomes are the results of years and years of bad ideas.

Starting with the intentional destruction of Boeing's engineering culture. Followed by GE-style financial engineering. Now the company's full embrace of modern Marxism ESG. Like we predicted a year ago, Boeing is going to collapse. When the debt gets downgraded, the stock will drop by more than 50 percent to below $100. And that's just what we warned about GE and GM.

Boeing is a wonderful metaphor for our entire society. When -- now, listen carefully, boys and girls.

When we promote people, because of their political views, or their race, or their sex. Even if that sex is completely made-up, instead of what they know and who they are, the content of their character. We will continue to have planes fall out of the sky.

Whatever company is involved in all of this stuff, their, quote, planes whatever it is they build will fall out of the sky. Until our government gets away from this craziness, America's republic will fall out of the sky.

Help me just give you a couple of things.

First of all, do you think this is a good idea?

The NIH has spent millions on equity, LGBT issues instead of researching cures.

How do you think that's going to work out for us?

DEI, the boon toggle cost us millions.

And yet, in all of these -- all of these universities. All of these countries, I'm sorry. Companies. That are embracing DEI. University of Michigan, is paying probably a total of about $80 million a year for their 142 employees, to promote DEI and all the programs. Okay?

So how is it working out? $85 million was spent on DEI. At that one university.

Black student's experience on campus hasn't improved. Hispanic and Asian enrollments increased. But black enrollment dropped slightly from 4.3 to 3.9, with percentage of students who were satisfied with the overall campus climate. It decreased 72 percent to 61 percent.

Your education plane is about to fall out of the sky. How about energy?

Let's all go EV. And, in fact, let's have a government that thinks they know better. Thinks that they are God!

And so they are going to reduce the oil that we can pump.

Starve us for anything that we know historically works.

To give us a bunch of crap that doesn't work. That we still have to have the energy to propel.

We still have to make electricity, so the car can plug in!

Where is that coming from, gang?

Oh, don't worry about it. These cars are so great.

Really? Did you hear?

I think it's Hertz is getting rid of all their EVs. They're turning in their entire fleet. And that's happening over and over and over and over again.

Meanwhile, hey, let's be more like Europe. Let's be more enlightened like France. France is dropping its renewable targets to fully embrace nuclear energy.

Why?

So they have energy sovereignty!

Sovereignty, how dare France separate itself from the collective.

And, meanwhile, of MSNBC. Chris Matthews, on Wednesday, claimed that -- and I'm quoting.

Rural Americans are essentially members of a cult, who will vote in, quote, their craziness.

If Democrats don't show up at the polls.

Our craziness.

Our craziness.

I've had enough. I've really had enough.

What is our craziness, Chris, that we want to vote in?

How about the president actually has to go to Congress, to ask if, hey. Can we get into another war?

That's not Republican craziness. That's currently democratic craziness. As we are now backing into a war, in the Middle East. Another one!

Is that crazy to ask?

Is it our love for history, and heritage, that's so crazy!

The mission statement in our Declaration of Independence. That all men are created equal?

That we don't believe that to be antiracist, you must indeed be racist!

To do the opposite of what Martin Luther King preached.

No. I don't think that's crazy.

I think that's settled science. Are we crazy for demanding that our border be shut down, until we can get control!

Is it crazy to say, 10 million new people have come across our border.

We don't know who they are.

They're -- we're building shantytowns. Our kids are being kicked out of their own schools.

So we can put illegals, in a nice home, because we're out of hotels.

Is that crazy?

Is that crazy.

We don't even know who is in our country, Chris!

Mark my words.

The intelligence offices in the United States, just came out with a warning. They said that Hezbollah, Hamas, they have a -- probably some operatives here in the United States.

Oh, do you think so?

So does every country that hates us! They're lining up at the border. And we let them through. And, boy, it's really crazy to ask why the Biden administration said, oh, if they're from China, pretty much just let them through.

Did we learn nothing from 9/11? Or did I just dream that up, in a crazy fever dream, Chris.

Is it crazy to insist the Constitution be followed. And the Bill of Rights!

That maybe we don't have secret courts. Maybe we're not spied on. That our CIA and other intelligence agencies don't conduct cognitive operations, quote, unquote.
On our fellow citizens.

Is it crazy to say, we need to be energy independent. At a time when oil tankers are being hijacked by Iran. When whole fleets of electric cars are being sold. And the old combustion engine is back.

Because the tech isn't there. Is it too much to ask, in a country like ours, to allow the citizens of the country, a republic. To make their own decisions on what they buy. What they eat. What medicine they inject in their own bodies. Is it really all that crazy to demand that the government rein in spending, when we're at 34 trillion dollars in debt. And our deficit. Just our deficit in December alone, was 50 percent higher, than they said it would be.

Is it really crazy to question authority, when that authority has lied to you, about serious issues? Too many to even -- even count.

Corruption, at the highest levels. Laptop, Russia. Clinton servers. January 6th. Ray Epps. ESG. Collusion with big tech, to silence and censor those that do question, is that really -- is it really crazy, Chris?

Because to me, it doesn't sound all that crazy. How about some accountability?

It's so crazy to ask for some answers on what happened in Afghanistan. Losing at least a billion dollars now, just reported of our hard-earned money in Ukraine.

And dare I say, the lab leak.

Our role in that. As well as all the lies from the government and the companies like Pfizer and Fauci?

It isn't crazy for those of us who actually believe in the Constitution.

For those of us who actually believe in the Declaration of Independence. And the Bill of Rights. And the rule of law. Not to be dismissed, demonized, called traitors, insurrectionists, or crazy. And, Chris, until you and your elitist, leftist friends, who despise half the country. The half that actually works hard. Plays by the rule.

Pays their taxes. Fight and dies in our country's war. Stop acting like all of your new ideas, like 100-plus genders, teaching of history. That destroys the actual truth. Until you abandon your elitist attitude, that we're all rubes. And only you know better. Well, I guess we'll continue to be crazy in your eyes.

But in our ours, it is your indeed clinical, mental illness, that is the real danger to freedom. Ten months. Or dare I say it, the republic.

RADIO

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RADIO

Meet the pro-Intifada candidate NYC Democrats just elected

New York City Democrats just elected 33-year-old Zohran Mamdani, a "socialist Muslim", as the Party's candidate for mayor. But Glenn Beck argues that his radical beliefs are actually communist and Islamist.

Transcript

Below is a rush transcript that may contain errors

VOICE: Z10852. Something weird is going on. The World Trade Center is on fire.

VOICE: Seriously the top of the building. We're trying to get information.

VOICE: Top level of one of the --

VOICE: To unfold from New York City.

VOICE: A plane crashed just --

VOICE: My sister is in that believe. I hope she's okay. I have to come to New York.

VOICE: It's pandemonium.

VOICE: It's raining papers.

VOICE: Wait a minute! Stop just a second. Why are we -- why are we -- I've got breaking news. Breaking news, yesterday. New York City just elected as their mayoral candidate for the left. And the Democrats, a -- a Muslim radical, who is also a communist!

So, you know, it only took you 25 years. It only took you 25 years, New York, to go completely insane.

Somebody who is -- well, I mean, if I might quote Michael malice today. I am old enough to remember when New Yorkers endured 9/11 instead of voting for it.

But you've got a -- you've got a communist jihadist apologist now.

Who was -- you know, well, CAIR put $100,000 behind his bid for New York City mayor.

So you have somebody who is endorsed by CAIR. That's really good.

He also was somebody who said, you know, he was -- he was for the shooting of the United Health Care CEO.

Said he was looking forward to driving down magnum Joan avenue. I don't know. Sounds like supporting people in the streets. Maybe it's just me.

Then he also said that he was going to globalize the intifada, which I think that's -- maybe -- maybe that's just me.

I mean, what do I know?

Tim Miller who is a podcaster. Asked him a few weeks ago. Asked him about his pro Palestinian slogan. Globalized the intifada. And he said, for me, ultimately, what I hear in so many, is a desperate desire for equality and equal rights, in standing up for Palistinian human rights. Oh, is that what you hear, Mr. CAIR?

Really? Huh, that's interesting.

Right. So globalize the intifada.

I mean, I mean, sure, that's -- I mean well, let me go on.

Because I don't want to take him out of context.

He then delved into the semantics of the intifada, citing the United States Holocaust memorial museum's use of a word for a translation for uprising, in an Arabic version of an article, a museum published about the Warsaw ghetto.

Oh!

So this is just a comparison, about the -- the armed rebellion against the Nazis!

I don't know if that makes me feel better!

I mean, if we're globalizing that.

We're the Nazis in this scenario.

Because I don't think it's the Palestinians.

I certainly don't think it's anybody who is like, hey.

Global jihad. I don't think it's those guys.

Or the Nazis. Who are the Nazis in that?

And it seems, if that's what you mean, then it's not just a harmless kind of slogan about human rights. It is a call for violence on the streets.

Because I don't know if you know, that's what happened when the Jews had their uprising against the Nazis.

I'm just saying!

But, hey, hey, free Palestine.

Oh, that's not what that means, gang. That is not what that means, but don't worry about it. He's just going to be possibly the new mayor.

And that's great. By the way, the Columbia faculty members signed a letter defending Hamas.

They were also among the donors to his mayoral campaign.

So, you know, you don't have anything to worry about.

And his father, who used to work at Columbia. Do you know, Stu?

Is his Dad -- is he still a professor at Columbia University?

He said that -- this violent terror thing of Islam, is not a part of Islam. Now, I've read the Koran, and much of the hadith.

And I'm pretty sure the violence is a part of that. But no.

No. This is something entirely new.

And his father while at Columbia university, wanted everybody to know, that this is actually -- this is something that came out of America!

America is really responsible for this.

And, you know, it really started with the Reagan administration, you know, when he started -- when he started with his very religious terms, to finish the war against the evil empire.

So, you know, that's where -- that's where 9/11 came from.

Is what -- don't worry about it! Don't worry about it!

Because who am I? I'm clearly just -- am I an anti-Semite today, or am I an Islamophobic? I can't remember which one.

Oh, it's probably both. Anyway, Islamophobia. Let me just explain Islamophobia. I haven't even gotten to the Communist part of it. Which is really, really -- New York, you're in one for hell of a ride. Buckle up.

It will be a fun rollercoaster for you. My gosh, I've never been happier that I've been away are if New York.

Anyway, I just want I to know, there is Islam. And then there is Islamists. Now, an Islamist is somebody who really wants Sharia law.

That's political Islam!

That's not a faith. That's political Islam.

Now, let me make really -- something really clear. Criticizing Islamism, is not Islamophobia. Pointing out the dangers of, oh. I don't know.

Political Islam. The ideology that seeks to use the tools of democracy, ultimately to destroy democracy, is not an attack on Muslims.

No. Uh-uh.

You know why?

Because Muslims are often the first people in line.

The first victims of the ideology.

So let's draw a bright, bright line between Islam as a faith, millions of people can practice that faithfully and peacefully.

It's mostly peaceful, okay?

Then there's the Islamism.

Islamism is something entirely -- that's a political project.

A theocratic political -- oh. Left loves theocracies. They love it.

Of course, you never see a problem with it.

See it when an Islamist is touting it. Anyway, it's not about prayer. It's not about fasting. It's not about spiritual life.

It's all about power. It's about merging of mosque and state. It's about implementing Sharia, not as a personal code of conduct. But as a governing legal system.

And it's -- it's supremacy.

Absolutely. Faith.

Religion.

It's -- there's one thing that's supreme.

It's misogynistic.

Deeply intolerant of all kinds of things.

Descent. Secularism. Other faiths. Even competing interpretations from inside the faith itself.

It will behead them too.

So let's -- let's be honest here for a second.

You know, CAIR should be labeled an international terror organization.

In my opinion. In my opinion.

Oh, does that make me -- that makes me an Islamophobe. I'm sure. I'm sure they will start a campaign against me on being an Islamophobe.

Stand in line, guys. You've been doing it since 2001, okay?

I don't really care. And I don't think the American people. I think that record, all the grooves are worn-out on that one, okay?

This is not a religion we're talking about. When we're talking about Sharia law. And we're talking about globalize the intifada. What does that mean, actually, to globalize it?

Does that mean we now want to do what is happening to Israel? All over the world?

Has the Palestinian plight become our plight you now, as Americans?

That there has to be an intifada here!

Because it's the kind of the same. You know. It's kind of the same over, you know, with what the Palestinians are going through.

Well, it's very much like what the Jews went through with the Nazis.

That's a weird one. That one makes my head hurt. It's very much the same as that. And very much the same as the fight against Donald Trump.

Oh, this is going to be fun. It's fun!

Really fun. You know, the irony here is, the ones that will scream Islamophobia the most, are the ones in the progressive left, the champions of feminism, LGBTQ rights. And secularism.

They're going to -- no. You want -- they're going to stand with the people, who want to kill them first.

See, this is how smart they are!

This is why it's going to work out well, in New York City.

Let me just say. If you have an ounce of common sense, you run a business, you have an ounce of wealth. And I don't mean wealth like, you know, hey, Lovey.

Let's get on the boat for a three-hour tour with a suitcase full of cash. I mean you saved anything, anything, get the hell out of New York City.

I mean, this is about survival. This is about free speech. This is about women's rights.
Religious pluralism. Secular legal systems. Liberal democracy.

But it's also about failed principles of Communism. Okay?

First, you have to call out political Islam for what it is. Okay?

And we have to do it with the clarity that we call out white nationalism.

Got to do it with that. Got to -- you know, the Klan. Really bad people.

Really bad people.

Anybody who is shouting for globalized intifada?

Pretty bad. Pretty bad people.

Okay?

Now, let's get to communism.

Because that's another cool, cool angle of the new Democratic candidate for -- for mayor of New York City.

That I just -- I think is cuddly and cute. Sure, it led to 100 million deaths. But this time, New York is going to be radically different. Oh, did I use the word radical?

I didn't mean to use that. What's radical about this guy?

Nothing. He's just like you!

Well, not exactly.

But let's talk about communism, next!

Now, the new mayoral candidate that's running there in New York City. That so many young people rushed to defend and vote for. He's promising free buses.

That's going to work out.

Where are you going to get the money for free buses.

It's free!

City-run grocery stores.

Oh, rent freezes. And finally somebody has done it. A 30-dollar minimum wage.

So under the banner of equity. And, you know, we will tax the wealthy. And the corporations. You know, we're going to squeeze another $10 billion out of them.

Really?

Because they're going to call a U-Haul.

You know, they will call something like U-Haul. There will be a lot of -- there will be a lot of movers that are like, how do I get the truck back from Texas or Florida back up to New York? Nobody is moving up there.

But he's going to do it.

Now, his vision isn't really new. You know, just -- just tax people, so we could have city-run grocery stores. You know, I remember -- I'm old enough to remember those city-run grocery stores in Moscow.

They were great.

The shelves were empty.

But that's just Moscow.

It worked out completely different in Venezuela.

Where, oh, no.

It didn't. That's right. The grocery store.

They were eating the zoo animals.

But it will be different in New York.

Because they have rent controls too.

And that will just choke the housing supply, but don't worry. As a young family.

You know, you voted for it.

You know better.

It will work this time.

So, you know, I like building ideas, I just don't like usually building on the graves of 100 million people.

But, you know, why not? Why not?

You know, use this dogma.

And this time, it will be different. It's not like it was in China. Where the great leap forward, was a gross -- a gross parody of progress. Venezuela, which was oil rich. One of the richest nations in the hemisphere now sees 90 percent of its population in poverty!

Yeah. Darn it. You know what they did?

They decided to take state control of things.

You know, like grocery stores. And it worked out well. How is that free busing working out in Venezuela?

I just want to -- I just want to know.

Anyway, then you've got the globalize the intifada. Which is going to drop a little violence in, and anti-Semitism in with your communism.

Which is weird!

Because violence and anti-Semitism, always happen. When it -- when it comes to -- when it comes to communism.

This is weird!

I've got to play something for you. Because this has talked about on me earlier this morning.

Oh, wow.

Wait a minute. This is -- this is the whole coalition coming together here.

So this is going to be good. New York, this is going to be great.

It's going to be great for you.

No. He's going to uplift you. Then the social fabric of New York City is just going to be -- just one.

It's going to be fantastic. Don't worry about your 120 billion dollars in debt. Or your 10 billion-dollar deficit that you have right now.

You are going to charge the rich more taxes, and they will stay right there.

They will be like, you know what, that 46 percent in taxes that I'm paying, this is just not enough. It's just not enough.

I need to pay 60 or 70 percent to be able to pay my fair share. So that's good. That's good. That's good.

You know, they're not risking 100 million people. It's just 8 million people.

This time, it's just 8 million people.

But, hey. For those of you in upstate New York. That aren't going to be part of this experiment.

Don't worry, you get to pay for it. Because they'll kick it up to the state. The state will have to subsidize everything. And don't you love it?

Really, don't you want to subsidize the really crazy ideas of New York City?

I mean, why don't you have a -- why don't you have a democratic socialist. A/k/a communist mayor.

Why haven't you done that? Are you not progressive enough? Are you not looking into the future?

Are you stuck in the past?

I don't know. I don't know. The graveyard is pretty big. I have a hard time getting past that one. You know, yeah, so I'm stuck in the past. Because I can't seem to pass that graveyard, and get to be down the path with you. But it's going to be a paradise.

Forget arithmetic. You know, or human nature. This time, it's going to work. It's going to work. So all right!

Wish I lived in this morning.

No wait. Nope. I don't. Nope, I don't.

And Ted Cruz, stop it. Stop writing, hey, come to Texas. No. No. Don't come to Texas. Don't come to Florida. Go to California. It's beautiful this time of year. Go there. Go there.