RADIO

Congress must STOP THE SPENDING before it's too late

JPMorgan Chase CEO Jamie Dimon warned at the Barclays Global Financial Services Conference that the U.S. is "spending money like drunken sailors around the world and that an economic "soft landing" is probably not coming. Glenn reviews the real state of the economy and insists that Congress must stop the spending before it's too late. He also argues that every presidential candidate needs to be asked what they would do to curb inflation. Is any candidate willing to dramatically downsize the government? Glenn and Stu discuss.

Transcript

Below is a rush transcript that may contain errors

GLENN: Jamie Dimon.

He has -- he has been warning about the risks to the economy.

He just was speaking at the Barclays global financial services contract. Conference in New York.

All of the best people are there. It's -- it's unbelievable. We went to New York. And there's these places called delis. And they have all kinds of sandwiches.that regular people eat. Oh, I felt like I was a regular person. Anyway, at the global financial services conference, Jamie Dimon said, you know, I've been saying that there's some headwinds coming. Kind of like a tornado is coming. Including, geopolitical tensions. Government spending. Monetary policy tightening by the central banks. And our government has been spending money like drunken sailors around the world. And that -- drunken sailors. You need to -- you know, I -- I -- I just want to say. This government, people claiming that they spend like I spend.

I don't spend like that. That's an insult.

To say the consumer is strong today means you will have a booming environment in the days ahead, a huge mistake.

He said, all this talk of a soft landing, is probably not coming.

You think?

And, you know, so there you have it, from an expert. In you let a boob tell you.

We're in a good part.

Okay. All right.

If we are -- speaking of Corn Pop. If we were popcorn, not the same as one bad dude, corn pop. Same letters. Just -- just -- okay?

If we were popcorn, the economy was popcorn.

It is still in the cupboard, waiting for you to go get it, and put it in the microwave.

That's how far along the line we are in this tough financial system we're in. Maybe it's been taken out. And you're like, I have to open up this plastic bag. It may be there.

STU: Yeah. And they're telling you, hey. Don't you want to eat some popcorn?

And you say yes. Because you like popcorn. Then they give you the colonels, and expect you to chew them.

You know, without them ever popping. This is a -- you're ruining your teeth with this particular.

GLENN: He said, everything that is being done right now, we will not see the full effects of for 12 to 18 months from now. So all of the spending that's going on, and, by the way, next hour. I am going to go into what we're doing in Ukraine. It is, to me, it is the clearest case of corruption. Of why the impeachment matters. What was that really all about? The lies of, we've got to fight Russia now. Otherwise, we will fight them later.

I'm reading this book on the -- on Kennedy.

And his problems with the generals, and all the neocons.

And one of the main generals, that was in charge of, I think it was a strategic air command. SAC.

You know, he's revered in the military. He actually wrote and said, in the 1960s, like 1961, it's inevitable, that we will have a nuclear war with Russia.

We should do it now.

And he actually -- they found out later, he was actually doing things, without the president's knowledge or anybody else, to provoke the Soviet Union, so they would start to gear up. And we would have the excuse of a first strike.

But his words were, it's inevitable, we will have to fight a war with them. We should fight it now, otherwise we'll be fighting a worse one later.

The same thing!

And as I'm reading that, I'm thinking, this is insanity. Whoops. We're doing the same thing right now.

STU: Similar thing happened in Spies Like Us, with Dan Aykroyd and Tim Chase. Almost the same. Same risk. And I think we need to take it seriously.

We've been warned for decades. And no one is taking this seriously.

GLENN: DeSantis said, yesterday.

If this is what -- he was asked on the CBS Evening News.

Which apparently is still on.

He said, he was asked, what would you do for inflation?

He said, I love this. Stop spending so much money!

Yeah. That's his first -- stop spending so much money.

And then open up domestic energy production. Those two things alone. But I honestly.

STU: Just those two.

GLENN: Not enough. But a lot.

Every candidate needs to be asked this. I have not heard Donald Trump give a real answer to the question of, tell me about inflation. What causes it?

And how would you stop it? What would you do it turn the economy around?

And, you know. We know.

Well, we will do what we did before. No, no, no. You can't now.

Because we have $8 trillion, is what you added to the debt.

We're there in spades now, just in -- you know, by the end of this one, it will probably be 10 trillion.

STU: He didn't discuss this with Megyn Kelly yesterday?

GLENN: I didn't see the Megyn Kelly interview either.

STU: I know Megyn does a great job with this stuff.

She's very good at doing this. I'm very interested to watch it. But I wonder if it was addressed at all there.

GLENN: I wonder. Because I want a real answer from him that. Want a I real answer.

The next president is coming in, if we don't -- you know, hopefully, we have least corn pop.

But the -- if there is a change, and there will be one way or another. Because he ain't making it longer.

What is the plan for inflation?

Because this is not good. And the only plan, that should be considered right now, is one, stop the spending.

Stop it. You -- you are being robbed.

They're now saying, their target is 3 percent inflation.

Why would we put up with that. The fed targeted 3 percent inflation.

I lived with that my whole life. Why? Why should there be inflation.

Why are you inflating the money 2 percent every year?

If you do three percent, in 10 years, I've lost almost 40 cents of every dollar. No. No.

Well, wages are -- are rising. At the same pace of inflation?

I don't think so. That's why everybody is short. And this is going -- you're going to learn about hyperinflation, the worst possible way. One of these days soon. Vivek -- Vivek said, I don't know why I say Vivek. Like cake. I know.

Vivek has said that he is going to cut 75 percent of the federal workforce. Fifty percent of those cuts will be made in his first year.

STU: I mean, he knows what to say.

GLENN: You had me at hello.

STU: Yeah. It's very Coolidge-esque.

GLENN: But Coolidge did it.

STU: I know. He cut 50 percent of the federal budget. What was it? One year?

GLENN: One year. Then the next year, he did another 50 percent. I mean, that's crazy.

STU: Again, very similar to what Vivek is talking about. Would he actually be able to do that?

GLENN: I don't know.

STU: That's the thing with Vivek's campaign. A lot of people are saying, he's promising too much. He's throwing this stuff out here. But he is being bold.

GLENN: This is what has to be done. We're at the time where we all knew this was coming. JFK talked about it.

FDR talked about it when he first passed Social Security, and said, these things must be paid for along the way. Otherwise, it will get out of control, and we'll never be able to pay it. It could be the ruin of our country. JFK said that. Ronald Reagan said it. We're there now. All of these entitlements, because we didn't actually have the money, we put it on to a debt sheet. And just our interest is going to kill us. It's going to kill us.

You've got to make massive cuts, right now.

And, by the way, you want to stop the Deep State? Cut 75 percent out.

Now, here's the one thing that I have said for a long time. And I will leave it at this. My free gift for Vivek and anybody who wants to use it. I really care about the real estate market. I really care. We will make some moves, that put the free market back in place.

And so your real estate. I -- I am going to make sure, that everything I can, to make sure it's a free market. So everybody can afford it.

Except in the Washington, DC, area. Your real estate is going to plummet, the day I'm elected. You might want to consider selling it now. Because there's going to be plenty of housing available, in the Washington, DC, area. Because I am going to fire 75 percent. Everybody else, don't worry about it. You live in the area. Around the Capitol, prepare for a -- a hemorrhaging on the price of your home.

RADIO

This Russian nuke warning is HORRIFIC… for an UNEXPECTED reason

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THE GLENN BECK PODCAST

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VIDEOS

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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.