Latest Articles Videos Hands-On History

Live Podcast Serials Stations

About Charity Real Estate Sponsors Shop Contact

RADIOJune 17, 2022

Financial expert WARNS: Left wants a trajectory LIKE VENEZUELA

Americans continue to suffer financially, and many of them — including Glenn — may be wondering: Is now the time to pull assets from today’s tumultuous stock market? Carol Roth, financial expert and author of ‘The War On Small Business,’ joins Glenn to answer similar questions. And while Roth cannot give financial advice based on YOUR individual situation, she does provide insight into market trends and give tips for how to hedge your portfolio. Plus, Roth and Glenn discuss Biden’s recent letter to oil companies, in which the president warned his ‘emergency authorities’ may take over if they don’t do as told. But that’s similar to how Venezuela’s downfall began, Roth explains, and now the median net worth there is ZERO DOLLARS. And unfortunately, she says, it seems that’s the trajectory today’s far-left wants to take too…

Transcript

Below is a rush transcript that may contain errors

GLENN: Thank you. Now I feel so much safer, now that the federal government has had the last word there. Carol Roth, welcome to the program. How are you, Carol?

CAROL: Oh, you know, just watching the market implode, and, you know, watching the lies come out of the White House. So just another day under Building Back Better, Glenn. How about you?

GLENN: I know. Oh, great.

Let me ask you a question: I've taken money out of the stock market. But I also have gotten burned before, by taking it out. And missing the upside, et cetera, et cetera. And my guy, who watches over my investments. He's like, Glenn, Glenn, it's going to come back. I'm like, I know it will come back. But, you know, I'm nearing 60. So if it's back in ten years, I'm going to start needing that money. Should have any money? I took about 50 percent out. Should you have any money in the market at this point? Have any idea of what's coming?

CAROL: Yeah. So, you know, obviously this is not financial advice. And I think that you did the right thing by talking to your financial adviser. Because obviously it makes a difference. If you're closer to retirement. Or if you're somebody who is younger or has the time to wait it out. The reality is, we don't know. If I knew, and I had this crystal ball, I would be on a yacht on the Mediterranean, and not on your program, as much as I adore you. But that's what I would be doing.

GLENN: Yeah, no, I know. I wouldn't have a program.

(laughter)

CAROL: So the reality is: You know, they show you over long periods of time, that people who take money out of the market, tend to miss the biggest up days in the market. You know, in these bear market situations, there are these kind of bull rallies that happen. And if you miss the ten best days of the market, over, you know, a ten or 20-year period, that ends up killing the returns that you get on your portfolio.

GLENN: Correct.

CAROL: So I do think, especially if you have a longer time horizon, that you should not panic. You know, you never want to be the one selling when the market is down. As you want to be buying. Not that I'm saying to buy today. But you should be also hedging your portfolio. And maybe realigning it. And I think it's a good time to maybe look at the types of investments you have in your portfolio. If you are looking at these high-flying growth companies. With weak balance sheets, you know, that don't make any money. You know, those are the ones that will struggle. If they have these rock solid balance sheets. They generate tons of cash. They're in an industry that can pass price increases on to the consumer. You know, those are the ones that will survive, and they're ultimately going to thrive. So, you know, that's the type of thing you should be talking to your financial advisor about, is maybe repositioning the portfolio right now.

GLENN: So what's really crazy, because of ESG. Right now, would be the time -- if I'm not mistaken. You know Wall Street. But right now would be the time that you would think, you've got to get into oil and gas. Because they'll make a killing. They'll invest. And we'll start to really boom. And they'll make a killing on it. But that's not true anymore. Because the market is not free. Oil and gas, is it even smart to do that now?

CAROL: So it depends on your perspective. I'm the follow the money kind of person. And obviously, like you said, the ESG push president the green push. The decarbonization push is so entrenched. You know that they're going to throw more money at that. And they've been keeping money from these sort of traditional areas of investment. So the question you have to ask yourself. And, again, I wish I could tell you the answer. I can only tell you what to think about in terms of the question. Is do you think that we're going to see a reversal, of course? Because right now, part of the reason that everything is so expensive, is because we have had all this capital being directed away from the industry. And there's severe underinvestment in all types of fossil fuels and traditional energy sources. So the play that you're going to have to go through in your mind is do you think that something is going to change? Or eventually here, we get some temporary relief. And then the green people continue to march on, and, you know, completely kill our -- our dependence on fossil fuels.

GLENN: What's frightening is that letter that came from Biden yesterday, where he said to the oil companies, I have emergency orders, where I will begin to direct this. This is what Hugo Chavez did. And it was over for Venezuela.

CAROL: Okay. So let's go back into whatever it is -- 50, 60 years ago. Venezuela was the fourth wealthiest country in the world. And like you said, their powers that be, said, we have wealth inequality. We need to hand this over to the government. We'll make sure that you are all rich. And they nationalized oil and a bunch of industries. Do you know what the median net worth in Venezuela is today, Glenn?

GLENN: Oh, I don't -- I'm afraid. No, I don't.

CAROL: It's zero. I'm not making this up. This comes from the Credit Suisse report on world wealth. The median net worth -- they went from the fourth wealthiest country in the world, to a median net worth -- not even an average -- a median of zero. The midpoint of the country's net worth is zero, because they nationalized the oil and gas industry. And the wealth, and that is the trajectory they want to take us down here.

GLENN: So, Carol, is it unreasonable to say. I mean, you know, Biden is lying to us about gas and oil and ESG and all of that stuff. He's just out and out lying to us. Is it unreasonable to say, that that's the way you get people to own nothing, by 2030?

CAROL: I mean, it's certainly one huge element of it. I mean, just think of. If we had, you know, some retraction of our energy. Where one day a week, we couldn't, you know, have enough energy to power electricity. Or to get us to where we need to be. And we all had to move to four-day workweeks. Think of the productivity that we would lose. Think of how our GDP would shrink. Think of the rolling consequences of that, throughout the economy. And, yeah. That's a really good way to start killing the ownership of people. But, Glenn, they have so many different ways they are trying to attack you, and make sure you don't own anything. That's just one of the tools in their pockets.

GLENN: Oh, I know. I will tell you, I'm up here in my ranch. I live in a town of very, very small. The next biggest town over is 5,000. And it is -- it's all ranchers. It's all farmers. And regular people. Dairy men. And they're all terrified. I mean, they can't buy water. Water is already at a premium, and now the state of Washington and the state of Idaho is talking about taking down the dams, which would destroy the energy here. And it would destroy all of the water. I live in a desert. Okay? It's a high-mountain desert. A lot of farms and cattle are here. And on top of that, they're also expressing to me fear, that they'll even be able to keep their land.

CAROL: I think these are real concerns. And I hope the place you're in is gulch, because we've been looking for it, for quite some time. But the reality of it is, the wealthiest people in the United States. You know, the Bill Gates. The Harvard hedge fund. They have all been buying up, not only land, but water rights. So it's something that we do need to keep a very close eye on. Because the question is, you know, why do they think this is such a good investment. You know, they're looking for return on their investment.

GLENN: Right.

CAROL: So what do they think is going to happen with the prices, that they're making investments, in farmland, and in water rights. An area. You know, it's one of those. I'll call it a dark gray swan. Because obviously we've talked about it. But really, not enough people are focused on it. And to the extent, you have this rationing of water, on top of everything else. I mean, I can't even imagine that scenario, and the social unrest that comes with that.

GLENN: So we have 30-year mortgage rates. They were, last week, 5.5 percent. This week, they're now at 6.28 percent. And the fed raised the rates yesterday. What is this going to mean?

CAROL: Oh, I do think they came down a little bit today. But, yeah. It's still very high. This is a very challenging question, and the challenging question is because we have such a supply and demand imbalance, in the housing market. Again, because of all of the idiotic things, that the powers that be have done over the past couple of decades. So we have an undersupply, that's estimated four to five plus million houses. And that's what has supported, you know, these high prices in housing. Plus, you have all of these corporate buyers who are flush with cash, who are coming in. And they are buying up -- talk about you will own nothing. They are buying up housing. The thing that makes people gain general racial wealth. And they're doing it with all cash. So they don't need a mortgage. And sometimes they're not looking. They're not even doing an inspection. So they're getting very, very favorable outcomes. So, I mean, yeah. In terms of what happens with the housing industry. The mortgage rates are going to keep first-time buyers. And people who are just able to afford out of the market even further. You know, they were already hurt, because of the inflated asset bubble. Whether that means -- we'll certainly see some cooling off. I don't think we'll see a 2008, 2009 type implosion. Because we just don't have enough houses. And I don't think right now people are overleveraged.

GLENN: So let's -- let's -- let's continue this conversation here in a second. Let me take one minute to break. But, you know, Canada said already. One out of every four houses, I think it is, is underwater. Or they can't -- they can't afford to keep their mortgage. And if it goes up, I think another point, they said, it will be like 50 percent. The people won't be able to -- so is Canada different from us? Because that sounds like a 2008. We'll get to that question here in just a second. By the way, Texas leads the nation. Texas leads the nation in homes being sold to companies like BlackRock. More homes in Texas are being sold to these corporate raiders than anyplace else in America. That's got to make you feel good.

All right. Let me tell you about the Tuttle Twins book. This is the way that you can teach your kids about business and economics and how to start their own business. And why you should be an entrepreneur. Our kids are not being trained to accept risk at all. There is no risk. It's due to them. They want it, and why risk? You know, the federal government should bail me out, if I've made a mistake. Well, you can't run a capitalist system, with people who are risk averse. You just can't. So get this book from the Tuttle Twins for free. Today and tomorrow, are the last day you can get it. The Tuttle Twins and their spectacular show business. You'll get it for free. Just pay for the shipping at TuttleTwinsBeck.com. The cost of shipping. You're going to -- everyone should have this. If you are a parent -- if you are a grandparent. They have all kinds of different books. This one you can get for free for all different ages. But this one is so important. I wanted to make sure that you can get it just for the price of shipping. This ends tomorrow. So please, get this book now. TuttleTwinsBeck.com. That's TuttleTwinsBeck.com. Ten-second station ID.

(music)

GLENN: So over one in five Canadians expect rising interest rates to have significant negative impact, one in four say that they will be forced to sell their home, if interest rates increase any further. So it's not as bad as I thought it was. One in four. Is Canada different than we are. They don't have a shortage of homes?

CAROL: So Canada has a massive shortage of homes. They have a very different scenario, than we have here. Because they have even more foreign investment, that has come in, particularly from China, on an even lower supply of homes. So there's a great chart. And I was trying to find it during the break. And I'm going to have to circle back on that one. But I'll put it back into my Twitter stream. But there is this incredible chart, that shows the median income for Canada, versus home value. Versus the US. And the home values, compared to the incomes in Canada, are so out of whack, vis-à-vis, where the U.S. is. That absolutely, they're knew, much more in an area of a crisis. And I have friends who are in Canada, and they go, yeah. My house is worth all this money, but I can't sell it, because where am I going to go? I have nowhere else to go and downsize into. So that is a really big issue, that is different for them, in a bad way, versus here in the US.

GLENN: Carol, there was a -- this really nasty socialist extremist group that we exposed, that is pretty much running the agenda of the White House. At least I think, they gave the president a list of ten or 20 things. And he's done almost all of them verbatim, except for the last one on the list is, just declare a national emergency. And it's on climate. And it makes me so nervous to see him so willing to say to the gas and oil companies yesterday, that this is an emergency. And he will declare an emergency, and just take things over. That's what he's been saying and leading to for climate change. I think this is going to affect an emergency with food as well. And then eventually, jobs. What does it mean, that the fed rate has now -- or the fed growth is down at 0.0? I think that's intentional. So we don't have a month headed towards a recession. But what are we facing?

CAROL: I mean, we are facing a bunch of people who are completely disconnected with reality. And like you said, they may be the puppets of nefarious actors. It makes absolutely no sense. And it's so frustrating. Because, yes, we do have an emergency. And they're the ones that caused it. And they could get us out of this emergency. They could shore up economic security. They could shore up national security. By just doing a 180 on policy. It's pretty clear, if you're saying, there is an emergency here. We need to do something. But it's not just an emergency today. It's an emergency for the long-term. So it would be really great, to say -- for them to say, you know what, we understand. Maybe we got this wrong. Or, you know, we're in a different situation. If they don't want to admit that they're wrong. And we're going to continue the green agenda. But we don't want to have fossil fuels, come out of Venezuela or the Middle East. Or these countries that will do it in a fashion that is less clean. And we want to lead the way with the clean fossil fuels, and we're going to become the leader. And we're going to shore up your economic security. We're going to shore up national security. We're going to shore up the security for our allies. And that's the plan going forward. And I don't care. Take credit -- pretend this is your brainstorm, and none of us knew this. If you want the credit for it. I don't care. I just want to make sure we don't have all those things, that you talked about. The food insecurity. The rolling blackouts. The social unrest that comes with that. And that leading us into full-scale global war. I mean, that is potentially where we are headed. And he could change all of that today.

GLENN: The problem is, people keep saying, they won't admit that they're wrong. But I am -- and maybe it's the cynic in me. But I've just seen too much. I don't believe they are wrong. I think they're getting the results, that they want.

CAROL: Yeah.

GLENN: This is -- this is too -- too perfect, in destroying the country.

CAROL: Yeah.

GLENN: You know what I mean? You -- you can't be wrong this consistently.

(music)

CAROL: What would I be doing differently, if you were trying to do it intentional?

GLENN: Yeah. Exactly right. Carol Roth, thank you so much for being on with us. We'll talk to you again, next week about cryptocurrency, et cetera. You can follow her on Carol J. Roth, on Twitter. Or find her website. CarolRoth.com. Back with Mo Brooks and the economy, next.

BEHIND THE SCENES

'This is how I spend my vacation': Glenn gives behind-the-scenes look at new radio theme recording

If you have ever wondered where Glenn gets the music for his radio show or assumed he used pre-made stock music or cheap computer software, now you know, it’s the real deal. Glenn's vacation technically started this week, but that couldn't keep him away from his natural habitat—the recording studio—where he spent several hours working on an updated radio theme track with pro composer Sam Cardon and Millennial Choirs & Orchestras (MCO).

Glenn was looking for something that sounded more urgent, and from the preview Glenn shared, it sounds like the creative team nailed it. The epic score sounds like it would easily feel at home in a Lord of the Rings or Star Wars film.

The new theme will be on air at a future date, but if you can’t wait, make sure to watch the video for a sneak peak!

Glenn's message to his son's birth mom: THANK YOU

‘I truly thank God for living in these times,’ Glenn says. ‘Look at the miracles that are happening,’ he adds, just moments after the Supreme Court ruled to overturn Roe v. Wade. No matter how much America changes, it’s still the greatest place on earth…and the Supreme Court victories we’ve witnessed in the last week — by justices who truly value the Constitution — prove it, Glenn explains. But there’s still work to be done. Glenn shares a story about his son’s birth mom — a teenager who decided to give her baby a chance to live — and he gives a message for us all: Now is a time for compassion toward ALL pregnant women, no matter the decisions they make...

Transcript

Below is a rush transcript that may contain errors

GLENN: You know, I -- I just walked outside. I have a barn here on the ranch. And it's where my broadcast studio is. And I just walked out to get some fresh air a few minutes ago. And it's -- this is a day that you will remember where you were. Whatever side you were on, you will remember this day. And I walk outside, and my son and another guy standing by this enormous tractor. And he is hitching it up to a trailer. Because they're moving a bunch of logs from one field to another, because they're building a corral. And I don't have my glasses on. And I'm looking. And I'm like, is that Raphe? And I can't -- I'm not sure. Because he's a man. This is the first summer, where he's up here. And he is a man. And it was an interesting thought to have about my son. Who now, in a couple months. Eighteen years ago. A very brave young teenager decided not to have an abortion. Decided that he had nothing to do with her mistake, or whatever happened.

And I remember we prayed so hard for a baby. And I felt almost from the beginning. That we were supposed to adopt.
And this is really hard for moms. Really hard. Baby not from her body. And I think as guys we don't understand that. Because I don't want anything coming out of my body. And if something comes out of my body, I'm not putting it in swaddling clothes, I'm telling you that. And we both wanted her -- how is this going to work? And there is something about God, that he is my son. And there is no difference between him and any of my other children. None. Zero. Not even a shadow.
Just by chance. If his birth mother happens to be listening or his birth grandparents happen to be listening, thank you. Thank you for giving this young man a chance to live. He is -- well, he's been a pain in the ass. But he's also my greatest joy.
We have to look at the things that we do now. Because there's a lot of -- she was 14, I think. Imagine being a 14-year-old. I remember she called her mom, because she -- she went to school. And she had to tell her mom. But she couldn't look her in the eye and tell her. So she called. Didn't know what her mom would say. And her mom was so great. She immediately said, come home, sweetheart. Come home. And they worked it out together what was going to happen.
People who fight for the right to abort children say, you know, who is going to take care of them? There's lots of us. Lots of us. Millions of us. Millions. Millions of us.
You know, today, Roe vs. Wade was -- it came to an end. Catholics would point out on the -- on the feast of the sacred heart of Jesus. And I doubt that they think that's just a coincidence. Because we know that the heart of Christ, I mean, the only thing he really got smoked at, was children. Being abused. It was clear, he liked children, much more, you know, than us adults. But then, again, I don't blame him. I do too. But we can't just think of the children today that are going to be saved, and then say, that's a good thing.
We have to think of the moms. And, you know, I'm like this with Christians who just really want to get people baptized. They don't really care. It's all about the number. You want to bring somebody closer to God, in baptism, that is a fantastic gift. Not from you. But from God. Fantastic. But no one is going to do that. If you don't actually love them. The people who -- the people who need salvation. They don't think anybody loves them. The women who are pregnant, most, not all. But most, who are pregnant. They feel trapped. They don't know what they're going to do. We have to be there for them. Not just during the time they're pregnant. But if they choose to keep the child. To help them. To support them.
You know, it's so funny. I guess we both give up on, you know, once the baby is aborted. Or the baby is saved. Then society auto both sides kind of just turns away. Planned Parenthood, are they concerned about the mental health? Because they deny it. No, no, no. People are celebrating their abortions. I don't think so. I don't think you can do that. And you may have felt like there was absolutely no way out. But at some point, that's going to -- it will haunt you. What could have been. Think about just the mistakes you will make in your life. And how they bother you. I shouldn't have said that. I mean, there were times in my life, where I said things to my mom, or whatever. I carried those things around for 25 years.
We have to have compassion for -- for all of these women. Now, if you're going to use this for contraception. I don't really -- I don't know how to talk to you. I'll try. But I don't know how I can relate. Because -- but I'm hoping most people aren't like that. I'm hoping that's the anomaly in our society. That just thinks, this is the way to have birth control. And one more thing on birth control.
Why is that still a prescription? I would like to say I'm not a doctor. But technically I am. But I'm not sure why that's still a prescription. Don't we know what that does? I mean, are we pretty sure? Yeah. That's what -- that's what happens. This is all it does. It's a pretty safe drug. Do we not just trust people to use only as directed?
I mean, we -- we trust people. I mean, I see stuff all the time. That says, do not drink. Okay. Well, it's turpentine, so I'm not going to drink it. But thank you for trusting me to know I'm smart enough not to do that. Don't put in eyes. Okay. I'm going to make sure that I don't put that -- you know, that cream in my eyes. Thank you. Good safety tip.
I mean, just making contraception over-the-counter. The pill over-the-counter. Would be helpful. Wouldn't it?
It's a lot better to have them get a pill over-the-counter, like that, than have our daughters or anybody else think about the abortion drug, that the FDA now will make sure that everybody can get. That thing is brutal. That is -- that's brutal.
Anyway, I truly -- as I go on vacation in a minute, I truly thank God for living in these times. It's -- would you live at any other time? I mean, I'm a little selfish. Because I'm a whiner. Absolutely, positively nothing before air-conditioning. Nothing before air-conditioning. I even would say, I want to still live in a time where all my meat comes from a counter on a little plastic, Styrofoam tray. Really, that's about as roughing it, as I want to go. I don't want to go past those two things. Indoor toilets. Yeah. But look at the times we live it in now. The miracles that are happening. The miracles of science. The freedoms that we do have.
I have a guy who is on my staff. He's from Scotland. And once in a while, he gets tired of me hearing, this country is just -- and he's like, come to Scotland. Come to England. He's like, I know it's not what it was. But it's still the greatest place on earth. And it is.
And just the victories, just this week. There's going to be more I think next week. Just the victories in the Supreme Court. And it's not -- it's not because of ideology. It's because the people who are put on the court now, actually respect the Constitution of the United States.
You know, Clarence Thomas and Kagan ruled together, on -- I don't know. Something with Medicare today.
What! I don't think they could agree on a dinner menu. But that's not because Thomas sold out. Or Kagan sold out. I know with Thomas, at least, that's because he believes that's what the Constitution says. And that's what is so great about it.
It doesn't cut your way every time.
You don't always win. You don't always get your way. Today is a great day. Praise God. Praise good we have taken this huge step today.
Lord, see your people. And keep them safe. And keep the people who are actually working in these pro-life clinics. Our judges. Our police. Our cities.
Please, keep them safe.

Riots & White House defiance: What may come AFTER Roe ruling

Many members of the far-left already are calling for a ‘Night of Rage’ after the Supreme Court’s 6-3 decision to overturn Roe v. Wade, and the White House has been discussing plans to defy the ruling too. In fact, one idea floated by Biden Administration officials, according to the New York Times, includes providing abortions on military bases. So, will America experience another summer of riots? Are YOUR taxpayer dollars at risk? And what does this mean for deep-blue states? Josh Hammer, legal expert and opinion editor for Newsweek, joins Glenn to discuss what may come next...

Transcript

Below is a rush transcript that may contain errors

GLENN: Josh Hammer, he's the opinion editor of Newsweek. He's the host of the Josh Hammer show. He is really quite brilliant. One of the leading minds in the conservative movement, I think. Josh Hammer joins us now.

To tell us, what did you find in this decision?

JOSH: Glenn, great to be back with you, on such a momentous, and really such an emotional day, honestly. So, you know, look, as you said, this dropped recently. Funny enough, I was in the middle of getting a guest lecture from an organization on the advisory board as to when it drops. So I barely had any time to kind of skim through, let alone guess the concerning dissenting opinions. But it looks like this looks very similar, to the draft opinion that was leaked, by the Politico story, a month and a half ago, in early May. And I think those of us who were praying that the five justices from this leaked draft opinion, would have the fortitude to stiffen their spines against this unprecedented assault. Now knows that our prayers were answered, Glenn. That's really my takeaway right now.

This looks a lot like the leaked opinion. Justice Thomas and Justice Kavanaugh have some reconcurring opinions.

But unbelievable. And really just holding aside the constitutional law stuff for a second hear. Just speaking as pro-lifers, on a day like today, I think we really just need to pause. And I tweeted this out earlier. We need to just be grateful for our half century of pro-life activist forbearers. You know, this -- Glenn, this issue could have gone away after 1973. That was a long time ago. 1973. I mean, this issue could have just gone away. We owe a tremendous debt of gratitude to the pro-life moral activist. Political activist. And, of course, yes. Legal activist. Who fought day in and day out, that makes sure this great injustice stayed front and center of our national, political conscience. And in many days, the culmination of a half century of fighting for truth and justice. But in many ways, it's also a new beginning for the pro-life fight as well, interestingly.

STU: How do you mean a new beginning for the fight? I just it's going to turn, I think we're going to see abortion turn even darker in those states that allow it. Is that -- is that what you're meaning by this?

JOSH: Well, look, for a half century now, Roe vs. Wade, and its project any, specifically, the Planned Parenthood versus Casey case of 1992.

They took away from the states obviously. They arrogated authority away from the states, the ability to attempt to nationally codify one view of the morality of abortion.

It happened to be a profoundly immoral view. So these -- the fight now shifts to the states. And the pro-life activists. And all the 50 states. Especially, obviously in red states. Purple states. I mean, admittedly some blue states like New York and California, probably won't be able to touch them there.

But we have to make sure that our side is well positioned in the state Capitols for every red, purplish, probably even light blue state, to make sure we fight for successful, cogent, and morally consistent pro-life legislation. The state of Oklahoma, actually, just north of Texas. Right where you are now, Glenn. They have been leading on this actually. Governor Kevin Stitt signed into law, a fantastic pro-life bill there in Oklahoma. A few weeks ago. Maybe a month ago or so at this point, that basically just bans abortion straightforward from conception. And there are some -- you know, obviously, likable the mother. So forth. But we really need to start thinking about trying to craft legislation now, at the state level. But to your point, I do fear that the blue states will only double down in their radicalism. Unfortunately within that will only lead to an ever greater divide, in our country, that we have today. But obviously, at the end of the day. We're going to save at the end of the day, millions and millions of unborn children. We are going to save human beings who can grow up to cure cancer, who can win Nobel prices.

I mean, this is just a tremendous win for the human species. I don't know how to say it other than that.

GLENN: I will tell you, I saw the stat, that I think it was last year or the year before. 20 percent of all pregnancies ended in abortion. 20 percent.

JOSH: Wow.

GLENN: That is -- that is a shocking number. And we do have our -- our work cut out for us. Because I -- I think that these states are going to double down. But I think, you know -- God doesn't waste anything. You know, there is no waste with God. Even the -- even the worst things that could possibly happen, turn out to be something good. You know what I mean? You're like, holy cow, how did that just happen.

And I think that evil is going to fully come unmasked. I'm telling you, Josh. I don't know how you feel about this. I think this could be the day of America's Kristallnacht. I can see these pro-life centers being burned to the ground today. They're calling for a night of rage around the country. I think evil is going to show itself. And that will scare the American people, hopefully.

JOSH: You know, I've been thinking about this a lot this week, actually. Because I've been bracing for a new kind of George Floyd summer of love, happening this summer. Coming to a city or suburb near you. Unfortunately, myself. Look, I live in Florida. I know, Glenn, you live in Texas. It is in moments like this, where I do think that where you live matters. And who your mayor is. Who your governor is, matters.

Because law and order and rioting and anarchy is not really a federal issue. It is to a limited extent. June 2020, Tom Cotton wrote this op-ed that was pretty controversial at the time.

I happen to agree with it. Where he said, quote, unquote, send in the troops. And there is some federal legislation from the reconstruction era that would justify that.

But most kind of quelling and quashing of anarchy does happen. Constitutionally speaking, at the state and local level. So at a moment like this, where I fear that you're probably not wrong. I take some solace. That Governor DeSantis is my governor. I think Texans should take some solace, that they are represented by -- by a Republican governor. The legislature there as well. So I -- I fear that you are right. I pray obviously, that no one -- it's hard.

I fear that it's something -- that something bad is happening. At the end of the day, of course. It does not mean that justices cannot do what they are supposed to do. So thank God they did that.

GLENN: So, Josh, have you looked into what the White House has been saying? The White House yesterday. In fact, do we have a clip of -- of this?

What the White House said yesterday, about the guns. And then they were turned to the -- the Scott us ruling, for Roe vs. Wade. Do we have that, please?

JOSH: Will the president accept this decision, even if he disagrees with it?

VOICE: I think it's going to come from the Supreme Court. So it's a decision we certainly are going to respond to. I'll leave it at that. Just like any other Supreme Court decision. Just like the one they did today on guns.

GLENN: So the White House won't say that they're going to accept it.

Which I don't think they will. They're talking now about taking doctors and moving them into places like Oklahoma or Texas, where abortions will be outlawed. And putting doctors on our military bases to perform abortions.

I mean, where does this go, when you have a government, that is in defiance of -- of one branch of the government?

JOSH: So there's a lot to unpack here. So we should start from first principles. The idea of judicial supremacy, and this is a peculiar thing, to say on a day like today, where such a pro-life victory has happened in Italy. But if we're going to be consistent here, the idea of judicial supremacy. The idea that the justices, have the sole and exclusive ability to interpret the Constitution for themselves. And no other Constitutional actor, in article one or article two, let alone the state. Has the ability to tentatively interpret it. That is erroneous. In fact, actually it was really Abraham Lincoln actually, who in the Dred Scott case, famously opposed judicial supremacy and flouted the Dred Scott ruling, at least as it pertains to everybody other than Dred Scott himself. I have actually argued, a former legal scholarship, in a law review article actually, that the Laconian view of how each branch of government should interpret the Constitution for itself, is correct.

Having said that. Having said that, there is a thing called prudence. And there is a thing called comedy. And in a moment like today, when it really does look like -- and I agree with you, that we are now bracing for riots through the streets. When the political rhetoric is at DEFCON one. When people are trying to assassinate Supreme Court justices. I think it would be -- at its bare minimum, a profoundly imprudent act. For the Biden administration, to try to undermine this ruling.

Now, what they might do, is they might try to kind of issue some kind of executive orders, or issue some regulations, that might try to kind of undermine it, at the edges here. But at the end of the day, the idea that this returns to the state. There's not really a whole lot they can do about that. Basically, at this point, throughout the country. Kentucky within West Virginia. Kansas. Whatever. If they want to go ahead and ban abortion, what can the Biden administration literally do about that? I mean, short of sending in the National Guard, to protect Planned Parenthood, if the state legislature of Kentucky goes ahead and bans it. There's not a whole lot they can do. And it's very difficult to envision a world, in which the Biden administration literally sends in troops to red states, to protect Planned Parenthood, if that state legislature goes ahead and bans it. So for practically speaking. This is a lot of tough talk and rhetoric. Obviously the campaign here in 2022. There's not really a whole lot that practically speaking, they can do to actually prevent red and purple states from enacting pro-life legislation.

GLENN: I'm glad to -- I'm glad to hear that. I know that they have been working on things. I mean, he has said, you know, there's executive orders, that I can employ. There are things that I can do. He's talked about a national public health emergency. Which I think is just -- is crazy. But I would hope, that the president would come out and say, we strongly disagree with this. And you're right. The court is not the end all. But the court did not end abortion. It just said, the people should decide. I think that's the best kind of court ruling, on any of it. The people should decide what this is. And send it back to the states. Josh, I thank you very much. Appreciate your time. Was there -- there was another ruling, that came out today. Was it important?

JOSH: Oh, no. In comparison to this. A total nothing burger. A 5-4 decision on Medicare reimbursement related. So nothing, honestly.

GLENN: Great. Thank you very much. Appreciate it, Josh. Josh Hammer, opinion editor for Newsweek. And the host of the Josh Hammer show.