Financial expert: Why we ‘LITERALLY CAN'T AFFORD' another Biden presidency

Biden claims he’s been re-investing in America and doing everything possible to secure the middle class. But his lies are FAR from the truth. In fact, financial expert Carol Roth tells Glenn that America ‘literally cannot afford another four years of Biden.’ In this clip, she explains why the reasoning goes beyond the obvious one: A $1.1 trillion dollar deficit in the last 6 MONTHS. Plus, Glenn and Carol discuss why inflation likely is sticking around for a while (thanks to disastrous policy at the Federal Reserve) and what’s going on with First Republic Bank…


Below is a rush transcript that may contain errors

GLENN: So there's a couple of things going on. First of all, I read this op-ed. And I didn't even read.

It was from the Blaze. I didn't read who wrote it. It was, Biden hasn't been investing in America. He's been killing the middle class.

And I have been reading it. And I get down to the last part.

And I'm like, we have to get this person on. And then I see at the bottom, Carol Roth.

Her new book, You Will Own Nothing. Carol, you and I -- we have like mind melded some way or another. Take us through your op-ed that's on the Blaze.

CAROL: Yeah. I think we're spending a lot of time together, on air, Glenn. So we're starting to think the same way. So Biden launches this plan for reelection.

And talks about how he's been investing in America. And all I can think about is the fact that we cannot quite literally afford another four years of Biden.

Because he and his cronies. They've been making themselves out to be champions of the middle class. But all they've done is decimate the middle class. If you think about what's happened since day one, with his energy policy.

Not only making direct energy cause more expensive. But all of the ancillary products that go along with that. The inflation that has happened under his watch.

Forty-year historic inflation that we are still contending with. That is a real cost to families.

Things like hiring IRS agents to go after, not the billionaires.

You don't have $80 billion to go after the 800 billionaires. But obviously to go after the middle class.

ESG doubling down on the fact that they want to prioritize their investments. And the things that they're interested in politically. Over your investment return.

On and on and on. And then he talks about the fact that he's been fiscally responsible. Not only has he run up substantial deficits. But for this fiscal year. The first half of it. We have a $1.1 trillion deficit. Not spending. But a deficit that hasn't been paid for, for just the first half of the year.

GLENN: For six months.

So let's say this. And then pause for a minute. In six months, we have spent more money than we had to the tune of 1.1 trillion dollars.

CAROL: And there is no emergency going on. They can't hide this under, oh, it's COVID. Or there's something special.

This is just the trajectory of spending, that they're putting us on the path to.

And, you know, we're having this argument over the debt ceiling.

And how we'll finance all the debt that we have.

The reality is, that nobody in the world, wants our debt anymore.

There's no demand for our debt.

In fact, big countries like China are actually getting rid of our debt.

Investors are -- you know, maybe on a short-term basis, will invest.

But there's not trillions of dollars of demand every year for new debt.

So the only buyer that is going to exist for the debt is the Federal Reserve. And that means, they will, on a ongoing basis, into the future.

Be the ones that have to buy the debt, which means they will continue to devalue your dollar.

They will keep inflation, as a part of your life. And is this part of the entire plan to make sure that they come out smelling like a rose, and you own nothing.

GLENN: You know, I'm doing a special on conspiracy theories. Tonight.

And how, gee, all of them turn out to be conspiracy facts.

But when it comes to finance, there are a lot of people, that are just pounding the drum.

And it's almost -- I think it is actually evil. Because so many people will be unprepared when it finally hits. But I said, back in 2009, the fed will begin to buy our at the time.

And they said, it will never happen. It will never happen. I said, it is coming. It is coming.

So now they also said, that the dollar would never collapse. And I've heard really smart broadcasters say, this talk of the dollar being dumped as the king dollar is nonsense.

It's not going to happen. It's not going to be devalued.

We've already gone from 73 percent, in 2001, of being everybody's gold standard.

73 percent of -- of all of the -- I guess you would call them sovereign funds. Where they're holding the wealth.

GLENN: Thank you. The reserve currencies.

That was the US dollar. We're down now to 47 percent.

And we have gained speed on losing it, ten times faster than the last decade.

This is a problem.

CAROL: Yes. You took the words out of my mouth. The acceleration of the dumping of the dollar on the world stage is pretty staggering. Now, we always go back to the fact that we are the cleanest shirt in the laundry. Or skinniest kid at fat camp. We still have a very resilient population. That is very productive on a relative basis, compared to the rest of the world. And a lot of good things that are happening. And, frankly, that is what is backing the dollar on the international stage. It's not the faith in the government, that they will do the right thing, as they like to say. Is the fact that we have this productive population as well as the military.

But, you know, over time, certainly there are a lot of actors that are looking to shift the alliance. So even if it's not the dollar goes away, it just becomes one of several different reserves, that are being used.

It completely changes the equation for us, Glenn, because one of the biggest privileges.

There are a lot of cons with being the reserve currency. But one of the biggest privileges, is the fact that we get an arbitrage opportunity.

It keeps our debt artificially low.

And that has allowed the US government to finance their expansion, and become unwieldy at a very low cost of capital.

On the back of basically everybody in the world, which they're not very happy about.

If that goes away, that's what's called the exorbitant privilege. Then that means, again, more expensive to finance the debt.

Which theoretically, you would think, is a red flag for the government. As the fed raises interest rates.

It becomes more expensive for the government to finance debt.

It should be a signal to say, okay. Well, we have to stop spending. And what are they doing?

They are accelerating spending.

This is a fiscal runaway train, and it will derail, if we do not do something to stop it.

GLENN: This is exactly like, if you own a house, and you bought your house at 0 percent.
And you have been buying them at 0 percent.

And you start stacking up houses. And you really can't afford them.

Then the interest rate goes up to 8 percent. And you're on an adjustable mortgage here. You didn't lock it in.

It goes up to 5 percent. 8 percent. 10 percent.

And you accelerate the amount of houses. And how fast you're buying houses. Instead, anyone with reason would stop buying houses.

They would reduce their debt. Not continue to not only pile on debt. But increase the -- the volume and the speed of accumulating that debt. It's crazy. It's crazy.

CAROL: It is crazy. And what we're asking for shouldn't be a big shift. If you think about how much the government took in, in, quote, unquote, revenue. Which is primarily our tax dollars last year. It was a hair shy of $5 trillion. They had $5 trillion, that they could have spent, and not gone into an extra deficit, that needed to be financed with debt.

If you rolled back to 2018, and 2019.

They spent at those levels.

I mean, it's not very long ago, that we would have a surplus, that we could pay down the debt. And try to get us on track.

But they don't care. Because this is not part of the plan. Is this not part of the new financial world order.

Where the stakes are shifting. They say the stakes are shifting. And instead of trying to do the right thing in stopping them, they're giving in to human nature.

They're giving in to greed and power. They're going to try to get everything for themselves. And in the process, as I've said before, you will own nothing.

GLENN: So here is the reality of America. That if you're not living it, you need to know about it. McDonald's is now saying, they have a problem.

Because they raised their prices due to inflation. Everything else.

A McDonald's meal now is $9. One McDonald's meal. They say, people are downsizing even more than they have already downsized. And there's no stimulus money. There's nothing coming.

So people are starting to really live on the edge. This isn't good. And then on top of it.

If anybody thought our banking crisis, can you tell me what happened with first republic today?

CAROL: So as we talked about before, there certainly -- we didn't think we would be out of the woodwork, when it came to bank crisis.

And one of the things I did, which I can share in a tweet. I think I can send over to you.

I plotted out some of what I call the low lights. Because I can't call them high lights of the Great Recession financial crisis. And it really does kind of show, in staggering detail, how long it took for things to play out.

And so we really are probably still in somewhat early innings. Maybe a third. Or getting close to halfway through. What could possibly happen, if history indeed rhymes.

But what happened with First Republic in a sense, is not dissimilar to what happened with Silicon Valley Bank and Signature Bank.

And certainly, they have not yet collapsed. But as they reported their financial results, they let us know, that in the last quarter, 40 percent of deposits exited that particular company, even though they had gotten a cash infusion. A massive cash infusion from 11 different banks.

And all of this is the outgrowth of the fed policy. Of not having the market make decisions.

But of this indulgent, negligent fed policy, that just put too much money into the market. That couldn't be handled. Now, every bank did something a little bit different.

Via signature bank. It was on the crypto side. Silicon Valley Bank, they put too much into treasuries.

It was different for First Republic, because they were making loans out to wealthy people, who basically said, oh, I can get all this money in the stock market. Maybe I'll take a 1 percent mortgage out on my house. Now they're sitting around with mortgages, that are paying them less, than what they have to pay for a deposit.

So it's not a good situation.

But, again, it's engendered by fed policy.

GLENN: Yeah. And we're not done here


The REAL Reason Democrats Are ALL IN on the Ukraine War | Ep 280

Why has the Biden administration been doing everything in its power to ESCALATE the war between Russia and Ukraine rather than seek peace? A couple of months ago, the Pentagon announced its largest budget ever — $842 BILLION. Half of that will all go to military defense contractors. The military-industrial complex is one of the largest businesses in the world, and it has penetrated nearly every branch of government, including the office of the president. Glenn follows the money trail to reveal who is making money from the war and asks: Who’s REALLY directing United States foreign policy? Florida congresswoman and Air Force veteran Anna Paulina Luna is one of only nine Republicans calling to end funding to Ukraine. She tells Glenn that behind the scenes in Washington, there seems to be a larger political motivation than to just “stop Putin.” And she reveals what Ukraine representatives have demanded in meetings with her: “They’re telling us we must continue to fund the war, they want F-35s, and it’s the obligation of Congress to do so.” Investigative journalist and “Just the News” CEO John Solomon tells Glenn why he thinks Biden is so obsessed with Ukraine and why the FBI is “playing a game of keep-away” with House Republicans who seek a document to prove allegations that then-Vice President Biden was engaged in a pay-to-play scheme with a foreign national. Plus, he gives Glenn a sneak peek at what a “Just the News” investigation found after receiving access to January 6 tapes from the Capitol. “There are security vulnerabilities, details on the pipe bomber suspect, and footage of Nancy Pelosi exiting the building.” “This is footage Democrats would NEVER want released,” Solomon says, and it’s all coming soon …


EXPLAINED: A possible banking CRISIS & what YOU should do

Weiss Ratings rates banks, stocks, bonds, and cryptocurrencies daily, closely monitoring the movements that happen within each sector. And they’re GOOD at it. In fact, of the 539 banks that have failed since 2009, they’ve given prior notice about 535 of them. Dallas Brown, a Weiss Ratings Publisher, joins Glenn to discuss which of today’s banks currently are facing possibly failure or crisis. Should Americans be concerned about our nation’s big banks, or is it only smaller ones and credit unions facing trouble? Plus, what should YOU do if your bank is at risk…? Listen to this clip to find out why you should NOT panic about today’s uncertain banking situation…


Below is a rush transcript that may contain errors

GLENN: All right. Welcome to the program, Dallas Brown. How are you?

DALLAS: Hey, Glenn how are you doing?

GLENN: I'm good. I'm good. So I don't know if you know much about me, but I tend to think, that we are running a shell game with our banks and our federal reserve and central bank and our Treasury.

And I think we've done such damage to our banks.

And they are just printing money to keep everything looking like it's okay.

I saw your -- so that's my point of view, so you know where I'm coming from.

And I want you to correct me, you know, and enlighten me, if you have anything better to say.

I have not heard of Weiss Ratings before. But I know you guys have been around for about 50 years. And in the last bank crash, I think you guys were the ones leading the way saying, trouble. Isn't that correct?

DALLAS: Yeah. But let me just jump in and tell you who liked this and what we've been doing. So this analysis we did isn't something that we just did one time. We rate banks and many assets. Stocks, insurance companies. Bonds.

And crypto. Daily.

And so we see the movement that happened, based on the liquidity of banks. Capitalization. Stability. And so we're very vigilant. Our analysts are very vigilant about this. And so Weiss has been doing this. They started rating banks in 1971.

GLENN: Okay.

DALLAS: So Martin Weiss is the founder. And his father, actually back in 1930, his name is Irving Weiss.

He predicted the failure of the bank of the United States.

And so that's where the catalyst of this came. So in 1971. He got together with his son. He started rating banks for safety for consumers. And so we rate every bank.

And so it's not just banks. It's also credit unions. So in 2008, you know, we -- we named in advance warning all the major banks that failed during that financial crisis.

GLENN: I mean, you were -- I think the only guys that said, Bear Stearns and Lehman Brothers are going.

DALLAS: Yeah. Yeah. So it was weeks before Bear Stearns, and it was like 100-some-odd days before Lehman Brothers. They're gone. It's an end game with them.

But since 2008, there have been 539 bank failures.

And we have given advanced warning on 535 bills.

And some of the other ones --

GLENN: Jeez. Okay.

DALLAS: So this isn't something we take lightly here. It's important -- it's important for consumers. But we kind of agree with you.

It's not the bank's fault 100 percent. It is the government. It is the government forcing them, to push this money out. Not letting the free market play a key role in regulating the banks.

GLENN: Right.

DALLAS: And they just keep stepping in to protect banks. Protect them from the market.

Created this monster that will be tough to fix or save.

GLENN: Right.

And it's only really benefiting, at least at this point, the big banks. Everything keeps getting folded into these banks, that we said were too big to fail. And so we have to make them smaller back in 2008.

They are just getting bigger and bigger and bigger. I mean, it feels like we're going to end up with, well, just a Bank of America.

DALLAS: Well, hopefully that doesn't happen. Because that's not good for anybody in our country at all.

GLENN: Right.

DALLAS: I was talking with a president. Of a regional bank, not too long ago.

And he was talking about a nationalized bank, and I was just like, why? Why are you talking about this?

This is not something that we -- we are discussing -- we need the privatization --

GLENN: Correct. So go ahead.

DALLAS: So this is what we found. This is what we found.

Basically, what's happening, because of how quickly they raised interest rates. Right?

There's a lot of banks that are holding bonds.

And when someone comes and does a bank run. Or we have a lot of people taking out deposits. Especially ones that have high uninsured amounts. So that's people that have over 250.

The banks are having a crisis. And if they don't have the liquidity. Or they don't have the cash to cover those. Like a typical bank run. They have to sell their abandons. And on their balance sheet, the bonds are marked, or held to maturity.

And so they have them marked, as if they were going to sell them in ten years. In 20 years. In 30 years.

But then they have to take them now. And they take a loss. And so after that, if the money that they're taking exceeds the capital, for the bank. Then somebody has to step in and save them.

We only have two options. Either we bail out regional banks. If this starts happening.

Or we sell them to the bigger banks. And we lessen the free market.

GLENN: Okay. So this is what I read, what, a week or so ago.

1210 institutions. That's banks, and what do you call them?

Credit unions.

That's 12.8 percent of our banking system. Got a red warning flag, signaling risk of imminent failure.

Three thousand received a yellow warning flag, indicating risk of failure in a financial crisis, or recession.

And 45 banks, 45 percent of all banks, and credit unions, were deemed vulnerable.

Well, if the 12.8 go down, then you have a financial crisis, or recession. And that just triggers the other three thousand, does it not?

DALLAS: So a lot of these banks are teetering, right?

They're getting loans from other banks. They're selling their assets, to be able to cover, if any type of run happens.

So what we're saying is, there are -- 12 percent, or 1210 institutions are at a point, where anybody decided to pull money out. Or we had some sort of small panic. They're not surviving. It's not happening.

And that is a lot to do with the fact that they don't have the liquidity, based on the short-term and long-term demands.

So when we rate banks, we have five different ratings. And there's 154 data points, we look at, within that rating.

And then we compare them to the stability across all of our data on those banks. And so we compare 6,000 data points to figure out what is the stability of this bank. And we rate every bank, A through E. Okay?

And so A and B are more stable. C is vulnerable.

That's the yellow flag, right? And D and E are the red flag. But there is -- there is quite a bit, even in that yellow flag. That if we hit a recession, or we come into a new financial crisis, they do not have the liquidity or the cash on hand.

To be able to survive.

GLENN: So what does that mean to the average person?

I've been telling people, don't pull your money out of a bank.

Unless, I think you're foolish for putting more than $250,000 in a bank -- a bank account, especially if you're an individual making business, I understand.

But you put -- you're going to get your money back. Now, how much your money is worth in the end, is another story.

But don't pull your money out. Because you will get that money if it fails. Right?


We don't -- first off, we don't want to cause panic. Right? That's why the FDIC. Who understood that a lot of problems with these recent bank failures, they had a lot of uninsured accounts. Right?

They were over the 250,000 dollar limit.

But the first thing is, don't hedge your bets.

Don't think that the FDIC has the Capitol to cover everybody, because they don't.

Right? When they came out and said, we will cover all accounts. I'll give you 250,000.

That just -- they're just paying lip service. That's exactly what they're doing.

GLENN: Well, I think they'll print the money. That's why I say, I wonder how much it will be worth in the end. They'll just print it.

DALLAS: So it's not the FDIC that will bail them out. It will be the US Treasury that will bail them out.

STU: Correct.

DALLAS: So the first thing I would do is never have 250,000 dollars.

GLENN: Okay.

DALLAS: Spread them out.

Because each county is actually insured. So you can have one in one and one in the other. And have a total of $500,000.

GLENN: In the same bank?

DALLAS: Yeah, as long as they're in separate accounts, it's the accounts themselves that are insured.

GLENN: Okay.

So when you say, signaling a risk of imminent failure, that means if something happens.

Or -- I mean, imminent failure usually is like DEFCON 1. A war has started.

It's coming.

DALLAS: So everybody -- anybody that is on -- listening right now. Can go to And see what their bank is rated. They don't have to do anything.

There is a search at the top. You get all the information.

You don't have to pay for it.

We do this. Just because we care about the everyday person.

And so you can go right now, and see what your bank is rated.

If your bank is rated red, there's a possibility, and I'm not going to say it's happening.

But if it's rated a D or an E.

There's a possibility, that even without a crisis, they could go under.

STU: So what do you do if you're in one of those banks?

Because I don't want people to panic or freak out, but I want them to be safe.

So what do you do if you're in one of those banks?

DALLAS: So right now, it's not an issue.

We do not have an issue. So we're not panicking. Nobody needs to panic. Nobody needs to go take their money out.

They need to be careful, right?

They need to see where their money is. See why -- because you can see right there, why the institution is -- and if it's a profit problem.

If it's a stability issue.

A lot of these -- a lot of these are really small banks. Right?

GLENN: Uh-huh.

DALLAS: And so what they need to do, is they're going to be covered.

Everything is covered. Credit unions are covered.

Banks are covered under the FDIC.

And if you're in one of these small banks. You're just going to be pushed into. Like we saw with the other banks failures that will happen.

Into the other banks that advice your assets.

Or it's taken over, until they can take them off the accounts.

So it's going to be seamless for them.

But, you know, it's -- it's -- we have them there.

Just so when people are looking to get into banks. Or looking to not have to deal with this. They know.

STU: They know.

Let me take a break. I want to ask you about Bitcoin.

I want to ask you about insurance.

But I also want to ask you about the bank big banks. Are any of the big banks in trouble? We'll go there in 60 seconds.

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Okay. Any of the big banks in trouble?

DALLAS: So I can't give you specifics right now, on individual banks.

GLENN: Okay.

DALLAS: I love to do it. But I have -- I have the overall information.

But normally, normally, I'm going to say this: A lot of the big banks, are highly rated for us.

Okay? Which means, they're -- they're a B. Or an A.

I'm looking at JPMorgan right now. They're an A-plus. They have some liquidity. They're a major bank.

And so they seem safe.

But the issue here is, it's not that they're in trouble or not.

It's a catalyst system. Like when we saw in 2008, it's a catalyst.

Like people end up holding back for other people.

GLENN: Correct.

DALLAS: On bad days. We have some interesting things happening shortly. Like, the commercial lending industry is going to go through a little bump in the road.

GLENN: Yeah. I don't think that's a little bump in the road.


GLENN: There's a lot of big commercial debt, especially in these giant cities.

Who is going to -- who is going to fund these things?

And then what kind of interest rate, is it going to be?

I mean, I just -- highway you are going to renew all this commercial debt?

DALLAS: Yeah. There's a lot of issues. Terms coming. There's a lot of issues with cap rates just getting annihilated.

And so we're -- we're going to see big discounts. We're going to see big discounts on commercial properties.

And the thing is, I was -- I was listening to a pundit the other day. Not to quote some of the others that I am listening to. But they were saying, they foresee -- there's so much cash out there.

And people are being hesitant about getting into these commercial deals.

They may not even get the foreclosure. They will just be bought on discount, to other investors. Because they haven't been wanting to jump in the last year. Because of the crazy interest rates.


DALLAS: And so. I don't know.

I can't forecast. I'm not an expert.

GLENN: Yeah. Right. Just your ratings -- so tell me do you rate Bitcoin? I've been concerned about Bitcoin.

DALLAS: We do rate Bitcoin.

GLENN: Because with everything that's going on with the Federal Reserve and the government, how do you rate Bitcoin?

DALLAS: So we have Bitcoin rated now as an A-minus.

GLENN: Okay.

DALLAS: So you have to understand, we individually rate each asset.

So because Bitcoin is an A-minus. Does not mean that it's better than Apple as an investment.

So we rate things within their own industry. And so we rate all cryptocurrencies, around cryptocurrencies.

We rate all banks, around just banks. We have individual algorithms for each one. So insurance is another one, we've been dealing with the mess in Florida.

Which you probably know about. With the insurance.

And we downgraded the -- the back stock insurance company

For the state of Florida. Because its citizens. Because it -- it's a mess over there.

They're losing money.

And, you know, it's another big hurricane season, just is damaging to the current state.

And right now, we've been currently working with the ledge a little bit.

To try to help them out. To fix this issue. But it's a large issue.

We're basing for it. We care about that.

GLENN: Dallas, thank you very much for coming on and being a voice of reason. And also of warning and not causing any panic from anybody.

But just sharing the information. I appreciate it. Thank you.

DALLAS: Yeah. No problem.

GLENN: is where you can go. And you can see the ratings of your insurance companies, your banks, et cetera, et cetera. How stable are they.

Do not panic. Do not pull your money out of banks. I mean, if you have more than 250,000 in an account, split it up. But don't pull your money out of the bank.

It will be a self-fulfilling prophecy. Weiss.


How Should Christians FIGHT BACK Against the Rainbow Mafia? | The Glenn Beck Podcast | Ep 188

Sometimes, the only way forward is backward. For instance, the modern obsession with “my personal truth.” The solution to this destructive force, according to author and podcast host Spencer Klavan, lies in ancient wisdom and the timeless question, “How is that working out for you?” Spencer joins Glenn to apply his expertise in classic literature and philosophy to the enigmas and culture wars of today, from the hubris of atheism to the rot of academia. And with a Ph.D. from Oxford, he knows a thing or two about academics. He walks Glenn through how the innovations of science have led to the religion of science, which in turn has bred horrors. He explains why he says, “Transgenderism is transhumanism.” And as a gay man, he responds to the destruction of truth in the name of people like him, including the possibility that Pride Month could be used to paint any dissenters as “Christian nationalists.” Spencer also walks Glenn through the big ideas in his latest book, “How to Save the West: Ancient Wisdom for 5 Modern Crises.” But, despite it all, there’s room for hope, he says. The decay of society may just be a great opportunity to make civilization better.


Glenn EXPLODES at Pro-Debt Republicans, ESG 'Politicization' & MSNBC LIES | Glenn TV | Ep 281

Democrats are behaving like spoiled children, demanding a limitless debt ceiling so they can spend uninhibitedly. On today's Friday Exclusive, Glenn demands that Republicans pick a side on whether they're okay with debt or not, and he reveals who's truly being held hostage as the debt crisis gets worse. Also, has the push for ESG hit its peak? Glenn reacts to the absurd notion that ESG has been "politicized" by conservatives. Lastly, Glenn tries to understand the new ways people can identify as lesbian ...