RADIO

Europe is facing ECONOMIC HELL, & America is close behind

Not only do troubling signs continue to plague America’s economy, but they’re pointing towards another collapse — like 2008 — as well. In this clip, Glenn explains the similarities between what occurred in September 2008 and what’s happening now. Plus, he details Europe’s bleak energy outlook and why he believes they’re heading for economic HELL. And it’s not just Europe...America isn’t too far behind. ‘A NIGHTMARE is about to hit,’ Glenn warns but...at least we have cute puppies to distract us, right?!

Transcript

Below is a rush transcript that may contain errors

GLENN: There's a couple of stories that I want you to read today, in my show prep. And you can get it at GlennBeck.com. It is free. But there's many stories in hear. But I'll give you a couple that I think are very important to read.

The first one, is just like in September 2008, many investors feel a fear, a dangerous chain reaction, is starting on Wall Street.

Listen to this. Widespread selling that we saw on Tuesday, was more than just a little bit frightening.

The Dow just kept plunging through the day. And the S&P 500, and the NASDAQ actually performed even worse than the Dow did.

Dow Industrial Average slid 1200 points, or 3.94 percent to close.

Blah, blah, blah, blah, blah.

Just five stocks on the S&P 500, finished in positive territory.

PAT: Hmm.

GLENN: Tech stocks were hit particularly hard, with Facebook parent meta getting 9.4 percent. Navidia shed 9.5 percent.

Worst day for stocks since the early days of the pandemic. But one bad day, does not make a crisis. Hopefully, tomorrow will be better. When you can compare the current behavior of the stock market, to somehow it behaved in 2008. It's a little frightening. I want to put a chart up, if you're watching Blaze TV.

The red is 2008. And the blue line is current.

PAT: That's almost exact.
(laughter)
That's --

GLENN: That's a little terrifying, isn't it?

PAT: Wow.

GLENN: Yeah.

PAT: Wow.

GLENN: Yeah.

And it's happening in the same times.

PAT: Uh-huh. Yeah.

GLENN: You know what, I've prepared. I want to take a little quick break here, just to regather ourselves.

PAT: Uh-huh.

VOICE: And now, the Glenn Beck Program presents distracting happy thoughts.

GLENN: It's a puppy dog in a car.

PAT: Oh, there. Sticking his head out the window. That's always funny and nice. His tongue is wagging. That's fun. Yeah, that's great.

GLENN: Okay. Now --

PAT: Now back to death and destruction with Glenn.

GLENN: Let me give you the next article. Inflation is turning hyper. Yeah.

PAT: Like in Argentina, where it's at about 100 percent.

GLENN: Well, only at 100 percent.

PAT: Did you see they're raising their interest rate? Get this. We think it's bad hear. They're raising their interest rate to 75 percent.

GLENN: Yeah.

PAT: 75 percent interest.

GLENN: What?

PAT: I don't think I've ever heard of that.

GLENN: You cannot function, it's just like --

PAT: You're done.

GLENN: That's a mob loan. That's a mob loan, but Argentina has gone through this before.

PAT: Yeah.

GLENN: Here's -- this is interesting. If you look at the housing market today, the fed raising the interest rates has caused a crash of unprecedented proportions.

500,000 single-family homes sell new sales. The lowest since 1952.

PAT: Hmm.

GLENN: So we went from the highest, to now the lowest since 1952.

PAT: Of course we did. This is when I'm trying to sell my home. Of course. Of course we did.

GLENN: I know. I know.

PAT: I'm only one year behind. I might as well be 100 years.

GLENN: Exactly. Mine is almost finished. Two weeks. Two weeks, mine is will come finished. I said to my wife, because literally -- literally -- I'm not making this up. Literally, one of the workers. I said, so when is this going to be done? Literally, oh, definitely, within the next two weeks. I'm like okay.

PAT: It's been a year or more?

GLENN: A year? It's been two years. Two years.

PAT: Has it really? Gosh, that's unreal.

GLENN: So, anyway, you just can't get stuff. Oh, man. Can't get that. Oh, good.

Anyway, so the housing. The housing market is trouble. You know what's happening with your grocery prices. It is --

PAT: Out of control.

GLENN: Groceries have had the largest spike and be are more expensive than they've been since 1979, at the height of this nonsense. And we are not finished. We are going into bad prices now.

PAT: Think about that. That was the Carter years, that were so bad. And that we remember so not fun.

GLENN: And this is the beginning of it.

PAT: Yeah.

GLENN: And so this story is wrapped around -- you know, can we do one more happy thought before we go into this? Because this --

VOICE: And now --

GLENN: Look at it, it's a puppy on a bed. Look at it. Going to scratch underneath his cheeks there. Oh, oh, oh.

I just want to --

PAT: Adorable.

GLENN: Yeah. Listen to this.

This is Europe. Money supplies took off during covid lockdowns.

Now, it's about to take off again, to pay everyone's energy bills.

But that's not all. Demands for currency and credit, to be conjured out of thin air, to pay for everything, will be coming back thick and fast. Expectations that energy prices, including European electricity, have peaked, are naive.

Putin has yet to put the winter and spring screws on to Europe. And the world fully. It will be surprising, if global oil and natural gas prices in Europe, are not significantly higher on a 12 month view. Europe has messed up its electricity supplies. That is where energy costs will rise most. Bankers are trying to reduce their loan exposure. To rising interest rates.

Undermining the GDP. Because paying for everyone's energy bills, rescuing troubled banks. Collapsing tax revenues. And difficulty in selling government debt on rising yields, governments are expected to apply economic stimulus, to support both their economies, and financial markets.

Furthermore, the far greater impact on prices, than contracting bank credit, is the expansion of central bank credit. The replacement of commercial bank credit by central bank credit will have a far greater inflationary impact, than the deflation from the bank credit alone. What they're talking about in this story is right now, the Europeans have put price controls on Russian gas and oil.

And now -- they're doing this to protect the households and the businesses from the energy crisis. But now, they still can't control it. And people aren't able to do it. So Switzerland. And now the UK are combining inflationary monetary policies of recent years, environmental wokism, and what they say, in this article, the most irresponsible energy policies with a decision to sanction the world's largest energy exporter.

The G7 and G20 now are all about agreement, acting together. A united front to prevent the markets from taking control of events, out of government's hands.

Lines of communication between the formal meetings. Blah, blah, blah. They're just going on to say, everyone now is working together. All of the central banks in Europe are working together.

In Britain's case, it is proposed -- listen to this. In Britain's case, it is proposed that electricity and presumably gas bills will be fully funded by the government. Anything above 2500 pounds per household.

So if the energy price goes over, and it is. If it goes over 2500, the government will pay for all of that. With support arrangements to be put into place with businesses.

Now, France, most of their nuclear power is now shutdown. Thirty-two plants, out of the 56 nuclear reaction -- reactors they have. Thirty-two of them are now out of action. Four are showing signs of corrosion and small cracks in the cement works. And 12 reactors are suspected of being similarly affected.

The other 16 are now being shutdown for maintenance. Who is expected to sell -- who is the UK expecting to get all of their energy from?

France. How this is going to -- how they're going to support small businesses remain unclear. It's extremely complex. But there's little doubt. That without the support, the economy will collapse. Winter -- this winter, as businesses shut down. Unemployment skyrockets. And the lowest rungs in society. The elderly and struggling single mothers find it impossible to keep body and soul together.

From the government's point of view, if nothing is done now, revenue will collapse. Welfare costs will escalate. Civil disobedience will worsen. And law and order will break down. The same problems will arise in the European Union, with some facing a greater propensity to riot.

So here's what's going to happen. This is what this is saying. There is -- there's no market for these bonds anymore. The loans.

Okay?

Every time we spend money. We have to sell that bond. It's like when you have a school board bond. Yeah, we'll raise the taxpayer money over this period of time. Should we build a new school?

You always vote yes for these bonds. Well, that's because you're paying for them. You're voting to say, yes. I'm going to pay that. You notice we don't vote for government bonds. Because there's not enough tax dollars to pay for what we're spending. So we instead, go to other countries, and say, can you buy this? Because we want to spend this.

So can you buy this piece of paper, saying, we're going to pay you back at this interest rate. Nobody wants to buy them. And it's not just us. The entire world has said to the western world, no, thank you.

England is already at 110 percent debt to GDP.

Which means, everything for an entire year, that they spend, build, make, sell, everything. They still have 10 percent more that they still owe.

So what's happening? As the energy prices get more expensive, as food prices get more expensive, the government has to spend more, holding people up.

If no one will buy their bonds, and no one will, gang. We all will have to just start printing money.

That's what's coming. If you think -- if you listen to any of these liars or they just may be misinformed, or I could be wrong. Honestly. I could be wrong.

Do not take my word as gospel. But I have spent 20 years, focused on this problem and what's coming, and how it all fits together. These experts are looking at one little slice of the pie. I've been looking at the entire revolutionary state, from technology to joblessness, to instability and riots on our streets.

To our instability of our government. All of it.

All of it. And I warn you. Europe is about to go through hell.

And tighten everything down. Because we are shortly going to follow. What you're seeing -- what you're seeing right -- Sara just said, please. Puppies. Yeah, puppies.

VOICE: And now the Glenn Beck Program presents happy distracting, happy thoughts.

GLENN: Oh, look. It's a dog and a kitty cat laying together. Oh, look at that. They're kind of hugging each other. So sweet.

PAT: How adorable is that?

GLENN: That's so sweet.

Okay. So it's a nightmare about to hit. Please, please. Fear not.

The heavens are engaged. Are you engaged with the heavens?

You are not going to convince God to be on your side. We must be on his side. Realign everything in your life now. So you can be on his side, and together, we will weather all of these storms.

TV

The ONLY Trump/Epstein Files Theories That Make Sense | Glenn TV | Ep 445

Is the case closed on Jeffrey Epstein and Russiagate? Maybe not. Glenn Beck pulls the thread on the story and its far-reaching implications that could expose a web of scandals and lead to a complete implosion of trust. Glenn lays out five theories that could explain Trump’s frustration over the Epstein files and why Glenn may never talk about the Epstein case again. Plus, Glenn connects the dots between the Russiagate hoax, the Hunter Biden laptop cover-up, and the Steele dossier related to the FBI’s new “grand conspiracy” probe. It all leads to one James Bond-like villain: former CIA Director John Brennan. Then, Bryan Dean Wright, former CIA operations officer, tells Glenn why he believes his former boss Brennan belongs in prison and what must happen to prevent a full-blown trust implosion in American institutions.

RADIO

Rumors explained: Is Fed Chair Jerome Powell OUT?!

After rumors spread that President Trump would soon fire Federal Reserve Chair Jerome Powell, Trump has said that he's "not planning" on it right now. But is it possible for Trump to fire him? Will he resign? And how is the Fed Chair even chosen in the first place? Glenn and his head researcher Jason Buttrill explain ...

Transcript

Below is a rush transcript that may contain errors

GLENN: Well, last night, I was rapidly looking the lie some of these rumors, on X.

Pretty incredible people on what's going on with Jerome Powell and the fed.

What the heck?

I was actually popping popcorn and watching this. It was so crazy.

GLENN: So it's just the rumors, that he is going to be stepping down?

JASON: Well, yeah.

Yeah. Anna Paulina Luna. Congresswoman. She was saying, it was almost imminent, that he was about to be fired. Actually fired.

There were other rumors saying, well, we're not sure about fired.

But he's considering resigning.

GLENN: Yeah. You know why.

JASON: We were like, what the heck is going on?

GLENN: So do you know why?

Do you know why he's resigning? Any guesses? I mean, you had popcorn out. I would love to hear what you have come up with.

JASON: So there was the CPI stuff coming out. The interest rates going up.

We know that the President wants interest rates to come down. I'm assuming that is what the deal is, and there's some sort of internal battle going on.

GLENN: Well, and the president can't fire the Fed chief. Okay?

So the Fed chief is the one that nominated. The federal reserve is the biggest crock of bullcrap I've ever seen in my life.

It's nothing, but the five biggest banks. Okay? And you know which ones they are. They're the ones that keep getting bigger. And everybody else is falling to the wayside.

So the Federal Reserve is the arm of those five banks.

Okay?

And they suggest, who the president can select from.

So the president can't say, I don't want any of these guys. I want this guy. Can't do it.

He has to take a look at the list that all the banks have put together. Is. Say, pick from this list, Mr. President.

Did you know that?

JASON: It's kind of how Iran chooses their next president.

GLENN: It's exactly. It's exactly that way. Except, this religion is all about the almighty dollar.

Okay. So he can't -- he can't pick on his own. But the president has a right to pick one, you know, every term. If it comes up in his term.

The president wants this guy out. And I think he's been really, really bad.

Because he's been wrong on almost -- on almost everything. But show me the -- show me the Fed, you know, the guy who the Fed was right ever.

So he can't fire him. But he wants him out. Because he wants interest rates dropped.

And, you know, the jobs are coming back. Things are coming back.

But interest rates keep coming up.

And the -- and the interest rates, if we keep our interest rates high, we have a harder time borrowing money for our debt.

And it just gets more and more expensive for everybody all along. So the president wants him to back off interest rates. But the Fed chief believes that that could cause more inflation.

Which I think he's right on that one. And I hate to say he was right on anything.

Because I don't think he was ever right.

Makes me question myself. When he's like, well, I think he might have a point on that one. But the president is like, no. He can handle it.

I want them down. I want cheap money again.

He refuses. So what has the president done?

The president can only fire him, with cause!

So what do you do when you can only fire somebody with cause, and you want them out.

You find a cause, and this one is easy.

So the Fed has been the one leading the way saying, we can't keep borrowing money.

We've got to have some fiscal sanity. Right?

This is going to kill us. We have to keep these interest rates high, because you are borrowing too much money. And maybe this is the only way to stop you.

So we got to keep it high, because you've borrowed too much money. And how many times has he testified in front of Congress? We've got to cut. We've got to cut. You can't keep spending like this.

Okay? Well, did you know that the Federal Reserve, with our tax dollars, the five biggest banks, a/k/a the Federal Reserve, is redoing their offices. To the tune of two billion dollars!

Now, I don't know what kind of wallpaper they need there.

But that seems like a pretty hefty renovation, especially when everybody is looking at cutting things. And you're lecturing me about spending money. So they get money from the government, okay? They're telling us, stop spending.
Stop borrowing.

Except, okay. What you've borrowed. I need $2 billion of that, to redo our offices in Washington, DC.

Excuse me?

Why don't you do that yourself. Okay. I think banks maybe have some money.

So they're borrowing that money, and there's $700 million over.

So it's $2 billion. $700 million over budget. And they're still not finished.

And the problem is: They're putting in water features.

They have a rooftop garden they're building.

JASON: Okay.

GLENN: I mean, it is -- it's insane. The president now knows, really? You want to play this game with me. I will sit your ass down in front of Congress, and you answer to the American people, how you're lecturing us about spending. And you're putting in a rooftop garden and a water feature in your office. No! No.

So the president is now threatening, I'll fire you for this. You want to quit, now would be the time to quit.

Otherwise, I'm dragging your butt in front of Congress.

You answer to the American people for this. And they will beg me to fire you.

That's what's happening.

JASON: I looked at that a lot.

Because I was like. There's got to be some leverage that the president had, because they can't get rid of.

But that is a pretty big cut. That sounds like a Babylon Bee article. $2 billion.

GLENN: It does. It does. $2 billion, 700 million over budget.

JASON: Oh, my gosh.

GLENN: I mean, and these are the responsible bankers. No, I don't think so.

It just shows, they don't mean what they say. They'll just keep doing it for themselves. You know, if you really believed that America was really on that financial cliff, why would you do that?

You would lead the way and say, guys, we are going to be the only responsible ones here.

We will lead by example.

No renovation. You know what, go to IKEA?

You need a new desk. Go to IKEA, and get a new desk. Well, we have to keep up our image. We're not going to have a country.

So what do you say, we go to IKEA?

Our image should be, we are going to lead the way out of this madness!

That's what a leader would do.

JASON: So, Glenn, I still don't think I get this disconnect between Trump and Powell on -- we know Trump wants to lower interest rates.

Powell is standing back and saying, basically, he doesn't want to do it.

Is he trying to undermine President Trump on this?

GLENN: President Trump thinks so. President Trump thinks so.

I think so, to some degree.

I mean, I'm worried about inflation.

Look, you know what happened. Do you know what's happening with yap?

JASON: What's happening with Japan?

GLENN: So what's happening with Japan, is Japan has always had this really amazing image of, we're solid. We're absolutely solid.

This is target to crack. The foundation.

1989.

Let me go back to 1989.

This was the crown jury trial of the global economy.

Back in 1989, you probably aren't old enough to remember.

All of a sudden, Japan owned everything in America. We were just becoming Japanese, and everything was being purchased by Japan. Kind of like it feels a little bit like China now.

JASON: They even owned Nakatomi Plaza, Glenn, that Bruce Willis had to save -- they owned everything in every '80s movie!

GLENN: Oh, yeah, they owned absolutely everything.

Okay? And the -- things were so insane in Japan. The grounds of the imperial palace, in Tokyo, on paper was worth more than the entire value of the state of California.


JASON: Wow!

GLENN: Okay?

So their land. Everything just shot up. And so they had all of -- they were flush with all this cash.

And people believed that Japan had suddenly, you know, cracked the formula for, you know, eternal prosperity.

That's the problem. Then it all started to fall apart. And the asset prices. That they had mortgaged against.

Okay?

They had borrowed. Well, the imperial palace was worth more than California.

That doesn't make any sense. You wouldn't mortgage it like that. At least long-term. I will do this real quick, and pay it off.

You would never, ever mortgage, because you know that's inane. Well, nobody ever wanted -- and it seems in governments, nobody ever wants to believe that this is just a fluke. Okay?

So the asset prices collapse. The stock markets plunged. And for three decades, they have gone into this very polite political coma.

Okay? Economic coma. And so the central bank did something radical. They were the first ones to set your interest rate at zero. They lowered the interest rate. They made money so cheap, it was nearly free. Zero percent interest. Sometimes, they would pay you to take out money.

So the -- they had negative interest rates. Can you imagine that? Now, you're not fixing the problem. You're just printing wallpaper to cover the mold. All right?

So they've done this for decades.

Now their debt is I think 260. Or 280 percent of their GDP.

I think, what is ours?

100?

80 percent.

Something crazy. 120. You never believe back.

The death threshold is usually 120, 140.

They're 260 percent of their entire economy is debt.

That's not a crack. That's a fault line.

So this week. Or was it last week? Things started to creek and grown in Japan.

And the government bonds, which are like our treasuries. Is this getting too complex.

Are you following this still?

JASON: Yeah.

GLENN: Okay. So their government bonds.

They were the safest investments on earth.

One of them. Okay?

It's us. Japan, Germany.

They started to fall.

Hard. And when bond prices fall, interest rates were the easily go up.

All right?

So they borrow all this money.

260 percent of their GDP is borrowed. Okay?

So they borrowed all of that money. And they had it at like 3 percent interest. Whatever.

2 percent interest.

And they were paying people.

2 percent.

Well, all of a sudden, the cracks started to appear. And people were like, I'm not sure this is stable at all.

And then the belief of the system started to -- to go away. So people started selling their Japanese bonds.

Once they do that, now the yields have to go up.

What happens when yields go up?

What happens when interest rates go up? For a government. You have to pay more interest on your debt!

Okay?

You add two or three points.

Just imagine, you have an adjustable rate. Okay?

This is a government having an adjustable rate. Except, they have 260 percent of everything they make, in debt!

And it's all leveraged.

And now, their adjustable goes up two, three, four points.

You're not able to afford that anymore, okay?

So massive problem.

Because what it really means is. People don't believe in Japan.

They know the con game is now over.

And investors are saying, you know, I want a whole lot more in return.

Because I just don't believe you anymore.

And it's not just Japan's problem. This is not a neighbor's house on fair.

This is -- imagine we're all living under the same roof. This is the neighbor's apartment, on fire.

We're all under the same roof. We all have the same foundation. And so when this happens to Japan, you should pay attention. And I'll show you the ripple effects in just a second.

First, let me tell you about Relief Factor. There comes a point where the pain in your life goes from being something that is just irritating to something you have to deal with every single day.

Maybe it starts small. A tweak in your back. A sore knee. A little stiffness in the morning. But, you know, those things happen. But over time, the playbook starts to make decisions for you. It changes how you move. How we sleep. What you say yes to. And what we have to start saying no to.

It steals moments from your life. Moments you just can't get back. Relief Factor is designed to help you take those moments back. It's 100 percent drug-free solution. Specifically formulated to fight the inflammation that's causing your pain. For thousands and thousands of people. It's helped reduce and eliminate the daily struggle. So they can get back to living the life they want, not the life their pain dictates. Pain may have changed your life, but it doesn't to have define it.

Get their three-week Quick Start. Give it a try now for 19.95. ReliefFactor.com. 800-4-Relief. 800-4-Relief. It's ReliefFactor.com. Ten-second station ID. We're back to the show.
(music)

GLENN: Okay. So now if Japan -- that means there's a stampede out of Japan.

And people are starting to look and reprice the risk of their money.

Now they're like, wait a minute.

The most stable. You know, if you're driving a car and it is the safest car in the world and all of a sudden, they just start blowing up on the highway.

You're like, I don't think that's the most -- that's the safest car on the highway.

And if that's the safest car, what does it mean for the car I'm in?

You know what I mean? So now, this is going to push US interest rates going up.

Which makes our mortgage rates go can up. And our car loans more expensive. And the national debt. Which is already costing us $1.2 trillion a year, just in interest.

Now, they can't sell their treasuries. People are skittish on treasuries. Maybe they come to the United States, but they're not so far.

They're getting out of the Japanese interest. Or the bonds there.

Japan has to pay their bills.

What do you do when you have to pay a bill?

And you don't have any money coming in.

You don't have enough money coming in. What do you do?

You sell something. Right? You sell your car. You sell something that you have of value.

Well, what do they have? What do they hold of value? US Treasuries.

So now, we are trying to sell our bonds, for our new debt, they hold our old debt.

They're saying, hey. Anybody want to buy this debt? Because I have to sell it. Fire sale. What do you give me for it?

Okay?

Which makes that debt more attractive, because they can get a better deal there.

Which means, if we want to have new debt, we have to raise our interest rates. Which means, we pay more for interest for our mortgages and everything else.

And it floods the market with bonds, crushing the prices, skyrocketing the costs for us.
And causing even more trouble, in other countries, that have US bonds. Because they start to look and go, nobody is buying these bonds.

Well, of course not. You have two countries. The two stablest countries besides Germany.

You have the two stablest countries now selling US Treasury bonds.

Okay? Really, really bad.

Now, let me add this on.

Germany is now having to pay for their own army.

And so they said, they're going to borrow money.

To build the army.

And they're going to lower their interest rate. So they can borrow more money. All right?

And now, the German bund, which is -- you know, like our Treasury. That's now starting to fall apart.

Well, Germany has some assets, they can sell.

What do you think that asset might be that they want to sell?

US treasuries.

We have been playing an extraordinarily horrible game.

This is why I believe the president wants somebody else in charge of the Fed, because the Fed can say, we're lowering the interest rates.

Because he's got to get more money into the system. So people can spend money, can start businesses. Borrow money.

Get things moving, so we can increase the amount of taxes that we collect.

The more people money -- the more people make, the more taxes we collect.

So he's like, we've got to grow the economy. And the only way we can grow the economy is to lower the interest rates.

But at the same time, interest rates around the world because of what's happening with the bonds is going through the roof.

We are in a very -- we've never been in this position before.

THE GLENN BECK PODCAST

Why the Term "Conspiracy Theory" is CIA-Created Weapon for Control

Conspiracies are of course real and occur every single day. But yet, many in the media and elite political circles attempt to use the term "conspiracy theory" to smear and discredit those who are skeptical of conventional narratives. Where did this term come from and how should we understand it? Journalist Alex Newman joins Glenn Beck to break this down and how it impacts the world as we see it today.

Watch Glenn Beck's FULL Interview with Journalist Alex Newman HERE

TV

Chalkboard Breakdown: How George Soros & the 'Deep State' funnel YOUR money to radical groups

Where do these massive left-wing radical groups get all their money from? Much of it is effectively a scam that occurs using your tax dollars to fund these groups that you would never support on your own. Glenn Beck heads to the chalkboard to expose the connections so you can visualize exactly how someone like George Soros manipulates the system.

Watch the FULL Episode HERE: Deep State ON NOTICE: New Tech Traces the USAID, Globalist Money Trail