RADIOMarch 05, 2024

REALLY? Biden Creates Shrinkflation Task Force to Blame COMPANIES for HIS Failures

President Biden is launching a new shrinkflation task force to crack down on the “unfair and illegal pricing” of goods. But is Biden right to blame companies when it’s his economic policies that has caused inflation? “You Will Own Nothing” author Carol Roth joins Glenn to break down why this FTC and DOJ-led task force is actually push for price controls. Plus, Carol weighs in on New York Attorney General Letitia James’ recent attack on the beef industry and how the White House is spreading propaganda through Cookie Monster.

Transcript

Below is a rush transcript that may contain errors

GLENN: All right. We have Carol Roth with us. Carol Roth is a good friend of the program. And also the author of, you will own nothing.

Former investment banker now cares about Main Street.

Carol, how are you?

CAROL: Well, Glenn, you seem a little feisty today, and I always enjoy feisty Glenn. This should be good.

GLENN: Well, I tell you, the Cookie Monster really pissed me off today, because there's no way, that that's a coincidence. That's coordinated propaganda from the White House.

CAROL: Well, I feel like Cookie Monster is the one who got it right. Cookie Monster is not the one who blamed the corporations. I believe it was Joe Biden, right. He just said that his cookies were getting smaller because of shrinkflation.

GLENN: Right.

CAROL: And I think that makes him a better economist than anyone in the Biden administration or in the New York Times. You know, for that matter.

But the reality is that this is a Biden talking point, so they picked up on this, and they said, no, no, no. Cookie Monster, shrinkflation is happening because of the green corporations.

GLENN: So today, they're launching something. And, Carol, I want to get your read on this.

This seems a little terrifying. Joe Biden today is launching a new task force to take on unfair and illegal corporate pricing, which Biden sees as a major reason why consumers are not yet feeling the impact of a cooling inflation rate.

The task force will jointly be led by the Federal Trade Commission and the Department of Justice, two agencies at the forefront of the Biden administration's aggressive regulatory agenda over the past three years.

Wow!

What are these illegal -- what did they say?

Illegal --

CAROL: Illegal and unfair. Illegal and unfair pricing. Unfair -- unfair is anything that Biden says doesn't go along with his narrative. And he's really talking out of both sides of his mouth. Or perhaps mumbling outside of both side of his mouth.

On the one hand, he's touting how much the economy is growing.

That things are going well.

That wages are increasing. If that was the case. Corporations should be doing better.

And there is no corporation, that is making any sort of outsized profits. Things like shrinkflation. And what's happening. Our downstream issues from the inflation.

That the Biden administration caused. And certainly the fed caused.

So to now say, we're going to have a task force. That is going to look up unfair and legal pricing practices.

You know, legal is one thing.

There's a certain definition at least today.

Who knows what that could be expanded to. Unfair is obviously anything that they don't happen to believe in or agree with. Or is against their policy.

One of the things we know in economics, across-the-board, price controls don't work.

That's something that creates rationing, and goods shortages.

GLENN: And a black market.

CAROL: Even Paul Krugman, who gets everything wrong. The one thing he's ever gotten right. He's against rent control. Which is one of many of price controls, even he kind of gets the fact that price controls don't work.

Everyone pretty much across-the-board agrees with that. But now they want to come in with the government, and step in. And say, oh, you're earning too much of a profit.

We don't like what you're doing.

You need to lower your prices.

Even though we're imposing this world upon you. That is a recipe of disaster. And obviously, completely the opposite of free market capitalism.

GLENN: Right. It is a fascistic move. When the government tells companies what to do, it's a move that fascists make.

I'm concerned about this, because, you know, with all the public/private partnerships. The ones that are going to get into trouble. Are not the ones doing the bidding of the American government now.

Let me give you an example. New York State attorney, Latisha James, has now filed suit, against JBS, USA food company.

This is the world's largest beef producer.

Accusing him of fraudulent and illegal business activities.

And disgorgement of all profits and ill-gotten gains.

She's using the state's apparatus, to go after beef procures.

But not for any other reason, other than they say, they are shooting for zero e- missions by 2040.

And she says that's fraud.

CAROL: Yes. She's accusing them of what's, quote, unquote, brainwashing. The state has put these different apparatus around these the different companies.

The companies as we know, leaned into those and wanted to sound like they were complying.

And so they said, oh, we're going to do all these things to help the environment. So now she's saying no, it's fraudulent. You haven't done the things that we said, or at least in the way that we said.

And, you know, with JBS. It's a little bit tough obviously. Because they're this huge corporate conglomerate. In some cases, they may have created some issues with the independent farmers. Either way, you're not rooting for the state here to come in.

And this discouragement of profits sounds, by the way, a lot what happened to Donald Trump. So this is anything that people made, we're going to confiscate it.

GLENN: First New York came for the National Rifle Association. I didn't say anything, because I didn't own a rifle. I wasn't a hunter, and I disagree with guns.

Then they came for Donald Trump, but I didn't vote for him. So it didn't matter. Now they're coming for beef.

And, you know, you could go after JBS for unfair business practices in my opinion. Because I'm a rancher.

CAROL: Sure.

GLENN: And I see these -- I believe there's absolute collusion with the three companies that are producing all of the beef in the country.

They're getting rich. The farmers are getting poorer. The ranchers are getting poorer.

So I think you can go after that. But it would have to be legitimate. I don't have the facts.

You could go after them for that. And break that monopoly up. Which I think is -- is fair. But he's not.

She's talking about the rain forest. What the hell does the rain forest have to do with New York?

CAROL: And not only that. This is very war on small business-like, right?

Because these bigger companies will have the Capitol base and the power to withstand at least the first time around, some of these tests from the state. But if you are an independent farmer. Or you are a small business, in some other arena. And they come after you. That's it. You are wiped off the map.

Which just further consolidates, those are exactly the opposite of what you just talked about. It doesn't create this more fair playing field.

It creates these tighter monopolies and do you duopolies. So this is almost like a warning sign to say, hey, maybe you want to get out of this business. Because we're coming after you.

And that seems like the plan. They want to capture and control more and more of our resources. And bring it more along with the state.

And they're finding all of these, frankly, unconstitutional ways, and banana republic sort of ways to do it, and we have to stand up.

GLENN: I have to tell you, you got to get out of New York because they're just going the wrong way. Carol -- and, Stu, I think you know a little bit about this too.

This is the future. Litigation is the way the left is moving. They're going to overwhelm the system, with lawsuits, on anything they disagree.

They're just going to take this.

Look what they're doing to Donald Trump.

That's going to happen everywhere.

STU: Yeah. Law fair is definitely the strangle, right?

They keep coming out. They push these things down the throats of everybody.

And then, what's the response?

Like the good outcome, is you spend years and years and years litigating, and spend tons and tons of money defending yourself.

You're not furthering the economy, you're not furthering your business, you're not helping anybody. You're not making products benefiting anyone. You're just in constant defense mode. And how do you advance yourself that way?

CAROL: And you have to have the capital base to be able to do that.

This is not something for the faint of heart, or if you don't have enough dollars in the bank, this is a very expensive endeavor, to be able to fight this.

So you come out the other end. And it's not guaranteed that you will get restitution for your legal fees or anything else for that matter. It's like, oh. Sorry. I guess we didn't win this particular one.

Or you send up in a corrupt area. And they do end up winning. On something that is baseless, as we saw happening in New York.

So it's very frightening. For anybody that has this.

GLENN: So let me ask you. Hochul came out last time under Trump.

Don't worry. This is Donald Trump-specific.

No. No. No. This is exactly. They are targeting a business they don't like. And theory trying to take it down, with everything the state has in its power.

When -- when does New York cross the Rubicon, and businesses just say, I am out of here?

When does New York collapse economically?

CAROL: It's a really good question. Certainly as a test run, I do think that people, particularly New York has a lot of liberal people, who believe that they -- will not happen to them.

We did see mass movement during COVID.

People who said, I've had enough of these policies.

Certainly, the cost. The crime. All those other issues.

Seen a mass exodus in the state, for places like Florida.

For people who remain, that say, no. This is my home. This is the heartbeat of my soul or whatever it is. They just aren't going to believe that it is going to happen to them, until it happens to one of them.

And then, of course, they make another set of excuses, saying, well, you know, this was different.

And I just think, that's one of the big issues with this country.

We have a lot of people, who are in conditional. And decoupled with reality.

And don't understand. And don't want to frankly understand. The reality of what is happening here, Glenn.

GLENN: Right.

So let me go back to this tribunal.

That the -- that the president is starting today. With the Department of Justice.

And the FDC.

This again, I -- I -- you know, I hate to be such a cynic.

But I -- I have no reason, not to be in this case.

They're going to target the companies that are not falling in line with them.

And how are you -- how are we going to fight this one?

What should these companies do?

And what should the average person do, to prepare? Because this is -- this is really going to go right to the heart of capitalism.

CAROL: Yeah. To think, the one piece of good news, the courts are also working. In some cases, the other way.

And there are groups like Pacific legal foundation. And others, who are these nonprofits, that will stand up, for businesses, and individual rights.

We just saw a -- at least interim win, that Corporate Transparency Act that we had talked about.
The financial crimes network, that was mass-targeting small businesses over the weekend. The Alabama courts had ruled or came out over the weekend, had ruled that it was unconstitutional.

Certainly, we imagined that the Treasury will fight that. If that holds, that shows, that there will be a win.

So there will be these marquee opportunities to push back.

Unfortunately, it's just exhausting.

Because it's like, you go and you kill the ants, and you think that you got everything done. And then the rain comes

And then you have a whole group of them coming back out.

I think we have to stay vigilant. And we have to use our voices.

Because the places where people have spoken up, and said, this is an issue, across-the-board. Whether it's to politicians.

Whether it's to Wall Street.

Wherever it is. Those are the places they backed off. And certainly, they've gone somewhere else.

But things like messing with our food supply, that is an absolute no. And something that everybody should be using their voices.

GLENN: So BlackRock says ESG advocacy say risk-factory for its bottom line.

I told you, don't believe them.

They will repackage.

Carol, I just want to hit this briefly.

Because I've got other things on the economy, I want to talk about.

BlackRock has now said, we're not doing ESG. Too many lawsuits. But we're doing transition investing.

Hmm. What's transition investing?

CAROL: They're transitioning, Glenn.

They want to transition, and they're transitioning, away from ESG.

And they're doing it in infrastructure.

And when they say infrastructure. They mean things like transportation.

Like water. Like sewage. And the like.

So instead of using their client's money to bully companies to make the changes they want. They're like, let's just use our client's money to invest directly into things that are sort of lynch pins, in making a change in their sort of energy cultism, so to speak.

So one of the things they did, they bought a private equity firm. That, actually, specialized in this. Not even just public money. But private money.

This company has about 100 billion in assets, under management. Which is -- not to say is a small amount of money. It's a huge amount of money.

But in terms of BlackRock, it's about 1 percent of their assets under management. Because remember they have about 10 trillion in assets under management.

But it gives them the vehicle to make these direct investments. And the firm they bought, owned things like big pieces of airports around the world. And water and sewage treatment and the like. And so BlackRock is going to be offering more of these investment opportunities, as well as having funds that do that in the public sector.

But the reason, they're doing it. You know, this is not just about control.

This is about following the money, Glenn.

And that is sort of the -- one of the ten polls of ESG. This is a quote from Larry Fink.

Policymakers are only just beginning to implement once in a generation financial incentives, for new infrastructure, technologies, and projects.

So this is not only about control. But this is another cash grab.

They are going to say, well, if we have our friends that we can influence in the government. And we can get them to give more incentives to the projects that we're investing in, then we are going to make more money. And we can achieve our goal. What a great win.

And another way to just completely consolidate money. Take taxpayer money. And find ways to enrich themselves while destroying our lives.

GLENN: That's fantastic.

CAROL: Yep.

GLENN: By the way, one quick thing. We have 90 seconds. We are adding 1 trillion dollars' worth of debt now, every three to four months.

CAROL: Correct. Every 100 days, $1 trillion. I said that you have that one family member in every family, who is the irresponsible one. The one who spends all their money, and then comes begging to you, and saying, they're going to be different this time.

GLENN: Right.

CAROL: The government is that drunk uncle. That is your family member. And unfortunately, there is no -- there is no stopping. But everybody knows the problem.

Like everybody has said this is a problem now. And nobody has the fortitude to do anything about it. We're talking from rating agencies. The Treasury, the Fed, the IMF. You know, major players from Jamie Dimon.

Every single person has come out now and said, this is a massive issue, and nobody is doing anything about this.

GLENN: And when you do this, and you add a trillion dollars every 100 days, to the debt.

Of course, inflation is going to go up.

And that's why you need price controls. And price controls lead to all kinds of bad things.

Don't believe what the mainstream media is telling you.

This is simple mathematics. Period.

Carol, thank you so much.

We'll talk again. God bless.

Carol Roth, the author of the book, you will own nothing.

THE GLENN BECK PODCAST

Are Epstein's "Blackmail Videos" Being Used for Leverage RIGHT NOW?

What was Jeffrey Epstein's operation all about. If he was at the center of a massive blackmail operation to compromise those in positions of power, who is in possession of that information now? Glenn Beck and ATF Whistleblower John Dodson analyze the details of this situation and give their thoughts on what is the most likely reality surrounding Epstein.

Watch Glenn Beck's FULL Interview with ATF Whistleblower John Dodson HERE

WARNING: How America Elects a Socialist President in 2028 | Glenn TV | Ep 444

The rise of Zohran Mamdani, the 33-year-old socialist who just won the Democratic primary for mayor, is not just a political earthquake shaking New York City — it’s a warning for the rest of America. Backed by Bernie Sanders, AOC, and the Democratic Socialists of America, Mamdani promises free everything, to tax the rich, and to dismantle capitalism. There’s nothing new about this tired strategy, but the media is propping him up as a new political genius. And with Democrat leaders lining up behind him, it’s clear: This radicalism isn’t fringe anymore. It’s the Democratic Party’s future. Mamdani’s rise is part of a larger movement that’s rewriting America’s values. Glenn Beck explains how New York is the prototype for the Left’s socialist makeover of America. Victor Davis Hanson, senior fellow at the Hoover Institution at Standford, gives a terrifying prediction on Mamdani’s mayoral race chances and warns the revolution is coming for mainstream Democrats. He also dives into MAGA’s frustration with the Trump administration's handling of the Epstein files.

Salena Zito reveals WHY Trump said “Fight! Fight! Fight!”

“I have a new purpose,” then-candidate Donald Trump told reporter Salena Zito after surviving the assassination attempt in Butler, Pennsylvania. Salena joins Glenn Beck to reveal what Trump told her about God, his purpose in life, and why he really said, “Fight! Fight! Fight!”, as she details in her new book, “Butler: The Untold Story of the Near Assassination of Donald Trump and the Fight for America's Heartland”.

Transcript

Below is a rush transcript that may contain errors

GLENN: Salena, congratulations on your book. It is so good.

Just started reading it. Or listening to it, last night.

And I wish you would have -- I wish you would have read it. But, you know, the lady you have reading it is really good.

I just enjoy the way you tell stories.

The writing of this is the best explanation on who Trump supporters are. That I think I've ever read, from anybody.

It's really good.

And the description of your experience there at the edge of the stage with Donald Trump is pretty remarkable as well. Welcome to the program.

SALENA: Thank you, Glenn. Thank you so much for having me.

You know, I was thinking about this, as I was ready to come on. You and I have been along for this ride forever. For what?

Since 2006? 2005?

Like 20 years, right?

GLENN: Yeah. Yeah.

SALENA: And I've been chronicling the American people for probably ten more years, before that. And it's really remarkable to me, as watching how this coalition has grown. Right?

And watching how people have the -- have become more aspirational.

And that's -- and that is what the conservative populist coalition is, right?

It is the aspirations of many, but the celebration of the individual.

And chronicling them, yeah. Has been -- has been, a great honor.

GLENN: You know, I was thinking about this yesterday, when -- when Elon Musk said he was starting another party.

And somebody asked me, well, isn't he doing what the Tea Party tried to do?

No. The Tea Party was not going to start a new party.

It was to -- you know, it was to coerce and convince the Republican Party to do the right thing. And it worked in many ways. It didn't accomplish what we hoped.

But it did accomplish a lot of things.

Donald Trump is a result of the Tea Party.

I truly believe that. And a lot of the people that were -- right?

Were with Donald Trump, are the people that were with the Tea Party.

SALENA: That's absolutely right.

So that was the inception.

So American politics has always had movements, that have been just outside of a party. Or within a party.

That galvanize and broaden the coalition. Right? They don't take away. Or walk away, and become another party.

If anything, if there is a third party out there, it's almost a Republican Party.

Because it has changed in so many viable and meaningful ways. And the Tea Party didn't go away. It strengthened and broadened the Republican Party. Because these weren't just Republicans that became part of this party.

It was independents. It was Democrats.

And just unhappy with the establishment Republicans. And unhappy with Democrats.

And that -- that movement is what we -- what I see today.

What I see every day. What I saw that day, in butler, when I showed I happen at that rally.

As I do, so many rallies, you know, throughout my career. And that one was riveting and changed everything.

GLENN: You made a great case in the opening chapter. You talk about how things were going for Donald Trump.

And how this moment really did change everything for Donald Trump.

Changed the trajectory, changed the mood.

I mean, Elon Musk was not on the Trump train, until this.

SALENA: Yeah.

GLENN: Moment. What do I -- what changed? How -- how did that work?

And -- and I contend, that we would have much more profound change, had the media actually done their job and reported this the way it really was. Pragmatism

SALENA: You know, and people will find this in the book. I'm laying on the ground with an agent on top of me.

I'm 4 feet away from the president.

And there's -- there's notices coming up on my phone. Saying, he was hit by broken glass.

And to this take, that remains part of this sibling culture, in American politics.

Because reporters were -- were so anxious to -- to right what they believed happened.

As opposed to what happened.

And it's been a continual frustration of mine, as a reporter, who is on the ground, all the time.

And I'll tell you, what changed in that moment.

And I say a nuance, and I believe nuance is dead in American journalism.

But it was a nuance and it was a powerful conversation, that I had with President Trump, the next day. He called me the next morning.

But it's a powerful conversation I had with him, just two weeks ago.

When he made this decision to say, fight, fight, fight.

People have put in their heads, why they think he said it. But he told me why he said that. And he said, Salena, in that moment, I was not Donald Trump the man. I was a former president. I was quite possibly going to be president again.

And I had an obligation to the country, and to the office that I have served in, to project strength. To project resolve.

To project that we will not be defeated.

And it's sort of like a symbolic eagle, that is always -- you know, that symbol that we look at, when we think about our country.

He said, that's why I said that. I didn't want the people behind me panicking. I didn't want the people watching, panicking.

I had to show strength. And it's that nuance -- that I think people really picked up on.

And galvanized people.

GLENN: So he told me, when he was laying down on the stage.

And you can hear him. Let me get up. Let me get up.

I've got to get up.

He told me, as I was laying on the stage. I asked him, what were you thinking? What was going through your head? Now, Salena, I don't know about you.

But with me. It would be like, how do I get off the stage? My first was survival.

He said, what was going on through his mind was, you're not pathetic. This is pathetic.

You're not afraid. Get up.

Get up.

And so is that what informed his fight, fight, fight, of that by the time that he's standing up, he's thinking, I'm a symbol? Or do you think he was thinking, I'm a symbol, this looks pathetic. It makes you look weak.

Stand up. How do you think that actually happened?

SALENA: He thinks, and we just talked about this weeks ago. He -- you know, and this is something that he's really thought about.

Right? You know, he's gone over and over and over. And also, purpose and God. Right? These are things that have lingered with him.

You know, he -- he thought, yes.

He did think, it was pathetic that he was on the ground. But he wasn't thinking about, I'm Donald Trump. It's pathetic.

He's thinking, my country is symbolically on the ground. I need to get up, and I need to show that my country is strong.

That our country is resolute.

And I need people to see that.

We can't go on looking like pathetic.

Right?

And I think that then goes to that image of Biden.

GLENN: You have been with so many presidents.

How many presidents do you think that you've personally been with, would have thought that and reacted that way?

SALENA: Probably only Reagan. Reagan would have. Reagan probably would have thought that.

And if you remember how he was out like standing outside.

You know, waving out the window. Right?

After he was shot.

GLENN: At the hospital, right.

SALENA: Had he not been knocked out, unconscious, you know, he probably would have done the same thing.

Because he was someone who deeply believed in American exceptionalism.

And American exceptionalism does not go lay on the ground.

GLENN: And the symbol.

Right. The symbol of the presidency.

SALENA: Yeah. Absolutely. And I think that affects him today.

GLENN: So let me go back to God.

Because you talked to him the next day. And your book Butler.

He calls you up.

I love the fact that your parents would be ashamed of you. On what you said to him.

The language you used. That you just have to read the book.

It's just a great part.

But he calls you the next morning. And wants to know if you're okay.

And you -- you then start talking to him, about God.

And I was -- I was thinking about this, as I was listening to it. You know, Lincoln said, I wasn't -- I wasn't a Christian.

Even though, he was.

I wasn't a Christian, when I was elected. I wasn't a Christian when my son died.

I became a Christian at Gettysburg.

Is -- is -- I mean, I believe Donald Trump always believes in God, et cetera, et cetera.

Do you think there was a real profound change at Butler with him?

SALENA: Absolutely. You know, he called me seven times that day. Seven times, the take after seven.

GLENN: Crazy.

SALENA: Talked about. And I think he was looking for someone that he knew, that was there. And to try to sort it out.

Right? And I let him do most of the talking. I didn't pressure him.

At all. I believed that he was having -- you know, he was struggling. And he needed to just talk. And I believed my purpose was to listen.

Right? I know other reporters would have handled it differently. And that's okay. That's not the kind of reporter that I am.

And I myself was having my own like, why didn't I die?

Right?

Because it went right over my head.

And -- and so I -- he had the conversation about God.

He's funny. I thought it was the biggest mosquito in the world that hit me.

But he had talked profoundly about purpose. You know, and God.

And how God was in that moment.

It --

GLENN: I love the way you -- in the book, I love the way you said that as he's kind of working it out in his own he head.

He was like, you know, I -- I -- I always knew that there was some sort of, you know -- that God was present.

He said, but now that this has happened.

I look back at all of the trials.

All of the tribulations. Literally, the trials.

All of the things that have happened. And he's like, I realized God was there the whole time.

SALENA: Yes. He does. And it's fascinating to have been that witness to history, to have those conversations with him. Because I'm telling you. And y'all know, I can talk. I didn't say much of anything.

I just -- I just listened. I felt that was my purpose, in that moment.

To give him that space, to work it out.

I'm someone that is, you know, believes in God.

I'm Catholic. I followed my faith.

And -- and so, I thought, well, this is why God put me here. Right?

And to -- to have that -- to hear him talk about purpose, to hear him say, Salena. Why did I put a chart down?

I'm like, sir. I don't know. I thought you were Ross Perot for a second.

He never has a chart. And he laughed. And then he said, why did I put that chart down?

By that term, I never turned my head away from people at the rally. That's true.

That relationship is very transactional. It's very -- they feed off of each other.

It's a very emotive moment when you attend a rally. Because he has a way of talking at a rally. That you believe that you are seeing.

And he said, and I never turn my head away.

I never turn my head away.

Why did I turn my head away?

I don't remember consciously thinking about turning my head away. And then he says to me, that was God, wasn't it?

Yes, sir. It was. It was God.

And he said, that's -- that's why I have a new purpose.

And so, Glenn. I think it's important, when you look at the breadth of what has happened, since he was sworn in.

You see that purpose, every day.

He doesn't let up.

He continues going.

And it brings back to the beginning of the book.

Where you find out, that there was another president that was shot at in Butler.

And that was George Washington. And how different the country would have been, had he died in that moment.

And now think about how different the country would be, had President Trump died in that moment. There would be --

GLENN: We're talking to -- we're talking to Salena Zito. About her new book called Butler. The assassination attempt on President Trump. And it is riveting.

And, you know, it is so good. I wish the press would read it. Because it really explains who we are, who Trump supporters are. Who are, you know, red staters. It is so good at that. She's the best at that.