RADIO

How BlackRock uses YOUR MONEY to push ESG & far-left plans

BlackRock — the largest asset manager in the WORLD — lost an unprecedented 17 BILLION DOLLARS over the last 6 months. BlackRock’s losses are in part due to the overall market downturn, Vivek Ramaswamy tells Glenn. BUT the policies BlackRock continues to push, like ESG, are responsible for today's struggling market. Ramaswamy, author of ‘Nation of Victims,’ describes just how toxic ESG policies are to America, to our economy, and most recently, to energy companies and oil supplies around the WORLD. And, thanks to BlackRock, it’s only getting worse. Plus, he explains how YOUR money could be helping BlackRock push ESG and other far-left initiatives and plans…

Transcript

Below is a rush transcript that may contain errors

GLENN: Vivek, my friend, how are you, sir?

VIVEK: Good to talk to you, Glenn. How are you?

GLENN: Very, very good. You are a guy, who I think -- one of the few that actually really gets ESG and the Great Reset. Believes and understands how dangerous it is, and is working to educate people, and also help us beat it. Let me -- let me start with what's happening with ESG and BlackRock.

Is -- is BlackRock's downturn in their profits, is this something that is caused by ESG? Or is this just the downturn of the market, that everybody is feeling?

VIVEK: Well, the answer to that question, Glenn, is it is both of those things. In part, because BlackRock is contributing to the downturn in the market that everyone is feeling because of ESG.

So I'll explain to you how that works. Where, this is the largest asset manager in the world, managing over $10 trillion. $10 trillion.

About half the U.S. GDP in the hands of one firm. And if you add Vanguard and State Street to the list, the top three, they manage more than the U.S. do. And what they do, they're aggregating the money of everyday citizens -- probably most people listening to this program, actually. Probably you and me included. Which, we don't know it, through our 401(k) accounts, through pension fund accounts, et cetera. And what they do, is they use that money to advocate for these ESG policies in corporate America. Climate change plans. Emissions caps. Diversity, equity, inclusion quota systems for race and gender on board, et cetera. They use our money to advocate for those principles in corporate America, that makes companies less successful. And as we've seen this year, has actually contributed to stock market declines, as well, in my opinion. And the ESG specific funds, this year, Glenn. Have underperformed the broader market as a whole. Even though the broader market as a whole, have done badly enough. And I think a big reason why the broader market has done badly. Is because of these demands of these ESG-linked asset managers. But the ESG-specific funds have done even worse. So the answer to your question, is there a downturn because of the broader market? Or is it because of the failures of ESG?

The answer is both. Because part of the reason the broader market is turning down, is exactly because of some of these toxic policies, that cause companies to focus on these social agendas.

GLENN: So let me ask you if -- because this -- I'm -- I'm not an investor guy. I really -- I mean, I should never be around money. I'm horrible at investing. However, it's -- it would be my feeling, that if you are in a place, to where oil is as scarce as it is, if we didn't have ESG, wouldn't the -- the energy market be the place to put your money, or is that just a Glenn Beck, you know, thought?

VIVEK: You know what, it's not just Glenn Beck. It's Warren Buffett, quietly starting to behave this way too, Glenn. So you might give yourself a little bit more credit, than you just did.

But actually, if you think about it, you know, this is -- the potential moment for U.S. energy to really shine, and rise to the occasion. Not just as an investment proposition. But as a proposition to meet the needs of Americans, at a time when there's a massive supply/demand imbalance, right? You remember, as recently as 2018, the U.S. was the world's largest producer of energy. How quickly things have changed now, with the U.S. president groveling in front of foreign dictators around the world, begging them to produce more oil, that the U.S. could be producing instead.

And now, I know the Biden administration is trying to walk this back. I think a lot of ESG managers like BlackRock are trying to walk this back, and say, well, we didn't really want to end fossil fuel production. Actually, he's making good on a campaign promise. In September of 2019, on the campaign trail, I'm quoting him exactly. Here's what President Biden. Then candidate Biden said, I guarantee you, we're going to end fossil fuels, end quote.

That was a campaign promise, that he's now delivering on. But he has multiple tools to deliver on it. Because normally the way constitutionally, you would deliver on that campaign projects. You would get a law passed through Congress. Well, he doesn't have the political support to do that.

American people haven't given Congress the political support to do that. Joe Manchin won't even stand in the way of doing -- won't even allow that to happen. And so what are they doing now?

They're resorting to other means, like executive action. Through the climate change emergency. We'll see -- we'll hear more about what that means. They're doing it through the private sector.

Deputizing the cronies like BlackRock, many of whose alumni, by the way, work in the Biden administration. But large private sector actors, they do favors for them, in return for those private actors, doing it through the back door, what government could not get done through the front door through Congress, the constitutionally ordained way for actually passing laws.

So he's delivering on that campaign promise, but doing it through the back door in ways that I think will make our Founding Fathers shun her, if they actually knew the way the government was -- was treating big -- private sector and using the invisible fist of government, instead of the invisible hand of the market to actually reach these outcomes.

GLENN: So one more -- one more question on -- on food now. Would food be the same thing? Because we have -- we have the ability. We have the property. The land. We have the farmers. We have the history of being the world's breadbasket. If it wasn't for ESG, wouldn't this be the time that farming would be the best kind of investment, where you would -- we would be selling our wheat and our food, all over the world. We would literally be feeding the world. If it wasn't for ESG. Am I wrong on that?

VIVEK: And at a time when there's real demand and need for it as well.

GLENN: Correct.

VIVEK: So, Glenn, these are all part of the same categories. Because energy is upstream of food production as well. Right?

It takes energy to transport food, to be able to export food, to be able to produce food, to be able to put the ingredients together. So I agree with you. I kind of look at energy as even more fundamental. Because it's upstream of nearly every other sector and nearly every other production means. But the thing for people to understand here, is that this is -- this is damage that's been done in the last few years, by the merger of public power and private power. So that's what makes it so hard to find the source. Because the one hand, Biden can say, this is not my fault. This is just the decisions of the private sector, that stop drilling for oil. That stop fracking for a natural gas. We didn't do that. There's no policy that you could point to. But, actually, the reason why they're doing it is because of the ESG movement in the private sector, that this administration, and the modern left, supports through the back door.

So that's kind of how they're able to really trick the public, through this Jiu Jitsu move, saying that, oh, this isn't the private -- this isn't us passing laws to do this. We're just seeing the private sector under investigation. Oil and gas. That's why they feel gas prices are high. When, in fact, they're responsible for causing it. And that's what people need to wake up to.

GLENN: Okay. So they are -- they are not talking to the American people about this. They're blaming the private sector. And that usually means the investors and the companies. But the investors are not necessarily a part of this. A lot of us are invested in these companies. Through our 401(k) et cetera, et cetera.

And we're not telling the companies to do this. Do the companies want to do this, or is it based just on the pressure from places like BlackRock who have a lot of those shares, because we've -- we run our money through BlackRock for our 401(k)s.

VIVEK: It's really the latter, Glenn. So the U.S. energy sector. The potential of U.S. energy to be able to supply not only America's needs, but the global needs is staggering. And this isn't just a policy failure. It's an American travesty, when those same countries have been hamstrung from being able to do their jobs. Now, most people choose -- choose (cut out). Production. This is the travesty, and then. It's the fraud of our time. When Americans are paying for $5 a gallon at the pump on the one hand. Want knowing that their own 401(k) accounts, and brokerage accounts are actually subsidizing the very ESG agenda that gives them 5-dollar gas in the first place. And I think that once people start to see that with clear eyes, the good news, is we find our way to a better way forward. To say, we're not going to let somebody else abuse my money. Abuse my savings. To be able to send messages to the U.S. energy industry, that I absolutely don't want to be delivering to the U.S. energy industry. I want them to make great products.
That's actually what I think accepting this battle looks like.

GLENN: Well, we have a ton of states now, that are looking to move their money. And, you know, all of the pension funds and everything else.

We have a lot of states that want to do that. We have a lot of people that want to do that. But I'm assuming, this is what you're working on. You -- I think you told us, last time you were on. That you were going to start something, and go right after BlackRock. And is that -- is that happening?

VIVEK: I started to strive earlier this year. Creating a firm. To compete head-on versus BlackRock. These are problems, Glenn, created in the market, that need to be solved through the market. So that's where I started to strive. And we'll take these guys. And I've learned a lot over the last few months, even. About how broken that pension fund system, at the state level really is.

And this isn't even a Republican or a Democrat issue. You know, we talk about -- you want to talk about the Deep State and the federal government. I think it exists at the state level. I think it exists at the corporate level.

These are institutionalized, bureaucratized actors. That you know BlackRock and State Street and Vanguard, they've mastered this system over the last ten to 20 years. And it's an ossified system, that in absence of everyday citizens speaking up and demanding change. You'll have a mid-level bureaucrat, who will happily sit and collect his paycheck, without wanting to be board. That's going to say, well, this is what I've done. And I'm not going to pay any more if I serve my citizens or not, so leave me alone. You know, I'm overstating the case. But only by a little bit. Which is exactly how many of these mid-level bureaucrats at the state level think, or even communicate. And I think at the end of the day, the right answer is going to come from everyday citizens demanding change. Kind of what you saw on a small scale, the school boards last year. Parents taking educational control back into their own hands, not leaving it to some sort of bureaucratized school board and saying, that it's your job to educate my children. No, they're my children. And I have a say in how do you they're educated. It's the equivalent. I think bottom-up. You know, sort of a positive revolution of sorts, that we need to see.

GLENN: Yeah.

VIVEK: To say, this is my hard-earned savings. I want to take control. Just like, it's my kids, it's my money. It's not your money. It's definitely not your money, BlackRock. That's what we're going to need to say.

GLENN: Yeah. I -- I -- I think the same thing could be said, for what we saw with Afghanistan.

I mean, just this audience, raised almost $50 million, in -- in like three weeks. To go and save and rescue people. From the Afghanistan debacle.

We flew the last plane. This was the deal we had to make with the State Department. That we could get our people out, if our first plane, that flew out, would carry our special forces. We're the ones that paid for that.

I mean, it's incredible. But it's also a great -- a great example of what a group of people can do, if they really set their mind for it.

Vivek, hang on just for one minute, I have one more question for you. But first I have to tell you about the Tuttle Twins. They have a powerful, powerful new book. It's called American history. 1215 to 1776. It is a history book. It's a storybook. It's not about the dates and the -- and the memorization of names. It's about the ideas.

Because that's what history is supposed to teach us. What idea replaced the old idea? And how did we get there? And what did we learn from it? If you learn from history, and not the names and the dates, if you learn from the story, you'll be able to apply that to our future. And that's what's missing right now. We don't know our own history. We're not teaching why fascism. How it came about. Why it happened. And how bad it was. We're not teaching -- we're teaching more that than of communism.

We're not even teaching what worked here in America. And what set us apart. The Tuttle Twins book, does it. They have an amazing deal right now. They're throwing in 200 pages of companion curriculum, and activities. An audiobook version. Videos to help the lessons from the book to come alive. It's like 250 pages itself. Your kids will love it. You will love it. I think every American home, needs to have a copy of American history. By the Tuttle Twins, in their home. TuttleTwinsBeck.com. TuttleTwinsBeck.com. You can preview a free sample of the chapter, and you can see for yourself, why it's, I think crucial to own. It's TuttleTwinsBeck.com. Ten-second station ID.
(music)
Vivek, earlier this week, I came back from vacation, and I -- I said, the most important story, since I've been gone, was the Sri Lanka, overthrow of the government. And kicking out of the president. Because, the World Economic Forum said, this is the motto. And there was a story up at WEF.org. That said, the headline was, how we're going to make Sri Lanka rich by 2025. So they implemented all of this stuff. They did everything the World Economic Forum said to do. And I talked about it, and read that story, on the air. By the time I got off the air, the World Economic Forum had taken that story off of their website.

But do you agree that Sri Lanka is the example that we should all be looking at, saying, they're the ones who did it. And look how it turned out.

VIVEK: I think it's a great example, unfortunately, Glenn, I would like to see it is the example. Unfortunately, we're seeing more and more examples by the day. Look at what's happening in Ghana. Look at what's happening in the Netherlands. Look at what's happening in the United States and Canada, at a smaller scale.

We have an energy supply shortage that we just talked about in this country. But you're right, Sri Lanka is a great example, to see what happens when these toxic philosophies are taken to their logical extent.

And, you know, I think this is a trans national issue, Glenn. It's a trans partisan issue. Goes beyond partisan boundaries, national boundaries. It is a global monarchy. And it's going to take a revolution to fight it.

GLENN: I agree. I agree. You're exactly right. Vivek, thank you so much. Be a part of that revolution. Because we're in one, whether you like it or not. And we don't need to pick up our guns. We need to inform ourselves and inform our neighbors. Knowledge, knowledge is power.

RADIO

Glenn reacts to FBI raid of Trump home: A ‘MASSIVE MOVE'

If you are NOT for the destruction of America, Glenn says, then you better pay attention to our federal government’s HUGE accumulation of power. The FBI raid on Donald Trump’s home in Mar-a-Lago late Monday was a ‘MASSIVE MOVE,’ with implications that stretch far beyond simple dislike for the former president. So what IS the far-left’s endgame? What are they hoping to accomplish, and will they stop at NOTHING to destroy President Trump? In this clip, Glenn reacts to the FBI raid and gives his thoughts on those questions plus more…

Transcript

Below is a rush transcript that may contain errors

GLENN: Does anybody have any credibility anymore? If you actually -- if you were actually celebrating, what is happening with Donald Trump, you have no idea how much this changes things. If you are not for the destruction of America, you better pay attention quickly. This is a massive move. And who has credibility on it? Nobody is going to believe Donald Trump. But nobody the left. So you're not going to change any minds there. Do you think the right will believe the New York Times? MSNBC? NBC? CBS? You think we're going to believe the New York Times? The people who have been carrying water for the Biden crimes? The Clinton crimes? And I'm not talking about the stupid death list. I'm talking about a server, and having her own State Department people go into a skiff, which is the top secret room. It's completely sealed off. Going in, getting documents. Cutting off top secret. And then emailing them to her, on her private server. And nothing?

And now you're going to try to convince me. This has nothing to do with January 6th. Okay. What does TV to do with? Well, it's a national archives thing. He has papers that should be in the History Department. Excuse me. What?

He has top secret papers. We have pictures. Coincidentally, they came out yesterday, right around the time of the raid, you know, of him flushing stuff down the toilet. We don't know what it was. But somebody who was nameless, took pictures of his toilets when he was traveling. And, you know, he was smart enough to rip him off, so we don't know what they said. But do -- (cut out).

We had somebody with him with a camera on their phone. And they went in right after him, hey, light a match Mr. President, click. Good thing for us, huh? That's ridiculous!

The bank servers, he's pinging a bank. Untrue. Carter Page is a Russian spy. Untrue. Donald Trump is a Russian spy. Does he look like a Russian spy? Untrue. Collusion with Russia. Untrue. Ukraine, the perfect phone call. Not true. Not true. Wasn't a perfect phone call. Was not impeachable. The pee tape dossier. None of that was true. Here's why they can't have him as president of the United States, okay?

They can't have him as president of the United States, because we are headed towards a completely new, all redesigned, non-capitalist, nonconstitutional great reset. And all of the West is involved in it. And New York Times, don't call me a conspiracy theory, because you just wrote a story about me and people like me trying to stop ESG, which you said didn't exist. So you have no credibility.

This is not just about their hatred for Donald Trump. This is about the elites. Now, I've got to tell you, I don't -- I don't like the Secret Service. And I've said this since Bush was in office. I think there's a problem in the Secret Service. I think it's poorly run. I'm a guy who has paid about a million dollars for my family's security every year for the last 15 years. Oh, Glenn Beck must be rolling in the dough. No, not after the security costs. I would rather have my family safe, than any service in the Secret Service because they rely on money. That's it. They'll solve it with money. We'll just get more guys.

Donald Trump should hire his own security. Donald Trump should hire his own security. Because I'm sorry, whether it's through stupidity, or it's part of the government. I don't know. If you're on the Secret Service detail of Donald Trump, God bless you. I watched you guys at CPAC. I watched you more than I watched anything else. I saw your eyes. I watched you. And there are those on his team, that whether you like him or not, are doing your job. And I thank you for that. But if they can't get this guy by hook or by crook, to go in, and be a part of the new jail system. For political opponents, they will kill him.

They cannot have him be president. Because he is America first. Not only that, you do this to this guy, oh, gee. You've gone after my family, you've gone after me. You lied about me. I have the evidence. All I have to do is bring it out. Because it's all on videotape on some dumb son's phone. Do you really think a new Justice Department, that's not even political, but just clear, that hold nothing back, Hillary Clinton and her Clinton Initiative, do you think the Clinton Initiative, that there's no impropriety going on there? Do you really think that Adam Schiff, who's lied -- there's nothing there? Nothing for Hunter? Nothing for Joe Biden, you know, in China. Nothing. No, there's nothing there. BlackRock, the collusion with the banks. Everything that they're doing now, right now, you don't think that a Justice Department, that is hell-bent on cleaning and settling scores could settle scores pretty damn quickly? I hope we don't get there. Because this has to be about reasoned justice. But look at what they've just caused. What is their endgame? What is the endgame? You make him into a martyr? By throwing him into jail or killing him? You make him a martyr. So you make him stronger. That doesn't make sense. Why would you want that? Well, we just want him out of the -- you think Ron DeSantis isn't going to be the immediate front runner, and that Ron DeSantis would be easier to beat in your book? Are you that stupid? Wait. You take out Donald Trump, and then the heir apparent, Ron DeSantis runs, and for some reason, you think that all the Trump supporters wouldn't go, yeah. Hmm. What is your endgame? The only one that makes sense to me, is stop him at any cost. And lunatics will take to the streets, and then we'll have our evidence that they're more dangerous than anyone could possibly imagine. Please, pray for your country. I would -- I would love -- I don't expect to hear from any. But I would love to hear from a Democrat today. Alan Dershowitz has the balls to come on. Wait 'til you hear what he has to say. Is there a single Democrat within the sound of my voice, single one, that doesn't -- that sees this?

Where are the FBI agents? Where are the freaking FBI agents, who don't see what's coming? Stu, look up the things. Eighty-seven thousand IRS agents, coupled with what they already have. That's about 170. That's almost the size of our National Guard. You feel comfortable with that, Democrats? You don't think there's a possibility -- not this guy, because he's so perfect. He's made your life so good. I mean, everything he's done is sunshine and lollipops. Do you really think that there's no possibility, that someone, even Donald Trump might come in at some point and weaponize the IRS? Is there anybody -- is there a single Democrat, call me, I would love to hear from you. 888-727-BECK. Is there one -- because, look, I voted for the guy, but this is too far. This is too much? Anybody, who says, if you would have done that to Hillary Clinton, I would have gone ape? Fascist. I see what you guys have been worried about -- 888-727-BECK

Shorts

Snickers apologizes to…CHINA?!

GLENN: Mars Wrigley, the company that produces Snickers issued an apology to China on Friday after suggesting Taiwan is an independent country. Stu, you're a Snickers executive. They come in to you and say, Stu, what's your line?

STU: No. We're not apologizing to China.

RADIO

‘LOOK OUT’: Signs we’re facing a dangerous, NEW America

Texans better ‘wake up,’ Glenn says. Because the state — and many American conservatives outside of it — are NOT moving fast enough to keep up with our rapidly changing America. Glenn explains why believes a new ‘season’ is on the horizon for our nation, and he describes the one thing President Biden could do to ‘polish us off.’ But, it’s not all bad news. In this clip, Glenn also explains why he’s hopeful for a new class of politicians to enter Washington, D.C…

Transcript

Below is a rush transcript that may contain errors

GLENN: I have Ron DeSantis on this week on Thursday, for the podcast.

STU: Hmm. That should be interesting. And I think he's the only out there, running in the right direction at the right speed. I think -- I think Florida is one of the only ones that may survive.

I mean, everybody else.

PAT: Uh-huh.

GLENN: Even Texas, which is pretty good, is not nearly moving fast enough.

PAT: It doesn't feel like we're on the same trajectory as Florida right now. It seems like they're protecting their freedoms a lot more passionately than -- than we are in Texas.

GLENN: Yeah.

PAT: I mean, there's no doubt that Governor Abbott has made some missteps over the last couple of years.

GLENN: He doesn't suck though.

PAT: He doesn't suck. But people are pissed at him.

GLENN: Because they expect Ron DeSantis.

PAT: Yes.

STU: Nothing better for Governor Abbott, than to be potentially running against potential Governor O'Rourke though.

GLENN: Oh, yeah. I know. Seriously, I think Abbott would be a great governor, really in any other state.

STU: Right.

GLENN: But Texas is like, wait a minute. What. Wait.

STU: We don't like to be outdone.

GLENN: We don't like to be outdone. And if he were in any other state, we would count him as one of the best governors in the country. And he is. But if you live in Texas, it doesn't feel that way. And Texans, you better wake up. Because you really do want to go out and vote, otherwise, you get Beto.

PAT: Yeah. Uh-huh.

STU: It's interesting with DeSantis in particular. From a political standpoint, he's -- he's always in the middle of the right issues.

GLENN: With the right thing, taking the right stand.

STU: Right. And, usually, like at the right level too. He's not just saying -- you might -- it might be satisfying to conservative talk radio listeners, if you come out and you attack all these listeners. And you do all these things that are really, really hard-core. But he has a way of balancing, talking to his base. By doing things that are legal. That are sensible.

GLENN: That are going through the House and the Senate.

STU: That are going through the House and they Senate.

GLENN: He's passing laws. He's not just doing it executive fiat.

STU: It's not just big symbolic gestures. It's been a pretty interesting approach. I remember when he kind of emerged as one of the top candidates, as potential presidential nominee in in 2024. It was early. It was like early -- you know, early pandemic. He was one of the first governors to sort of open things up. And at least get a lot of attention for it. Even though, Kristi Noem pointed out, never closed down. But he's been able to maintain that. And continue building on it. Where a bunch of other governors from that era, were sort of the darlings of conservatives for a while and faded. He's been able to stay right there.

GLENN: Right. Because he continues. That's what I mean. He's on the right track, at the right speed. He's taking all of it on. It's like, I really appreciate the states that are taking on ESG. But when of them are taking on just the E. Well, that leaves the -- the people of your state at risk. It's the S and the G, as well. That are problems.

And DeSantis is doing these things. At the top of the hour, I'm going to tell you, what he did. Vanity Fair just came out with a hysterical article, about how authoritarian Rick DeSantis is.

STU: Can you imagine how bad Ron must be? If Rick is bad, imagine how Ron will be? You'll never get that name right.

Okay. It's not like you're President Ronald Trump. You have just DeSantis.

GLENN: I know. Just DeSantis. Just DeSantis. So, anyway, this is hysterical. He just put in a civics requirements. And wait until you hear the way Vanity Fair is talking about it.

I mean, 1619 Project will come to mind, several times. But it's crazy, because they are defending incorrect history. Their defense is, Thomas Jefferson was raping their slaves. Oh, if I hear that one more time.

PAT: Oh, jeez.

GLENN: That's not true. It was not true.

In fact, dig up that information we had on Thomas Jefferson a couple of weeks ago. Just so we can -- just so we can remind people at the top of the hour. But, you know, I -- I felt something, oh, probably. Probably about eight months ago. I felt the seasons change. And that was spiritual advice to me. Almost 15 years ago. And somebody said to me. Glenn, I said -- when am I going to know? And they said, watch the trees. When the seasons change, you will know.

And I -- I didn't know if I would know that. And I had a real feeling about eight months ago, seasons are changing. And we're in it deeper now. And getting closer to real problems.

This summer within the last eight or nine weeks, I felt them change again. And I think, I could be wrong. But I think that is this climate bill. I think this is the beginning of an entirely new kind of America. And when it is all implemented, look out.

The only other thing that I think they could do to make things -- to really polish us off. Is emergency orders. And if he goes for emergency orders, and declares a national emergency with the weather, we're going to be -- we're going to be cooked. But I was at CPAC. And I saw some of the candidates, that are coming up. And if we can get these candidates in, they're serious. They're serious candidates. I don't know about the ones around you. But the nation has a few people that are willing to go to Washington. Lives, fortunes, and sacred honor. And save the republic. And save the Constitution. What are you saving it from? People who are trying to destroy the Constitution. Read it.

RADIO

How the ‘Inflation Reduction Act’ targets FARMERS…and YOU.

The Senate passed a 740 BILLION DOLLAR package over the weekend, with Vice President Kamala Harris giving Democrats the last vote they needed. The bill is called the ‘Inflation Reduction Act of 2022,’ but Glenn explains why it likely will do the EXACT opposite. And not only could it hurt your wallet, but it may hurt your food, too. Glenn details parts of the bill that target American farmers and the farming industry, all in the name of climate change. The ramifications — many of which are already happening in Europe — could be HUGE: ‘This is really, very dangerous.’

Transcript

Below is a rush transcript that may contain errors

GLENN: If we don't collapse the size of this government soon, it will become an oppressor. Yesterday -- or, over the weekend, the Senate passed the 740 billion-dollar climate or health care reconciliation package. Now, just remember, $700 billion was the size of the -- DARPA, Obama.

STU: Yeah. First Obama stimulus package.

GLENN: Stimulus. And we all had a cow, that it was 700 billion dollars. We thought that was outrageous. This is 740 billion, just on climate and, quote, health care.

But is it? Let me give you some -- let me give you some information on this. It passed, the bill includes $370 billion in green energy. Subsidies. Now, do you remember how well the green energy subsidies happened last time, when Obama was in? Aren't we just making money, hand over fist, with all of those great investments, that we had under Obama?

STU: I'm a billionaire, because of my investment in Solyndra. It's worked out so well.

GLENN: Is that because of inflation? Because I think that went out of business. Now, here's the key to this bill: $80 billion -- now, remember, 370. This is the biggest thing ever. This is -- this has got to be done. Because we're all going to do to die in a fiery flood. 370 billion, and 80 billion is for the IRS. Now, I want you to listen to what they say, and you'll read it over and over again. It's the Internal Revenue Service, for enforcement. Now, enforcement. Do we have that many greedy billionaires that just aren't paying their taxes. I would like to know.

Do we have that many billionaires that don't have enough money for really good attorneys, to read the law. That you're going to need 80,000 new IRS agents. That doesn't seem to compute at all, does it?

Now, by the way, they're saying that it's going to reduce inflation. It's not going to reduce inflation. If it does, and this is the honest-to-God truth, it may reduce inflation. Why?

Because it's going to hurt you so badly, that you won't be able to buy things. Remember, too much money chasing too far goods. So if you can't make the goods, you've got to reduce the money chasing it. That means, they've got to slow you down, at the store. And that is exactly what this bill will do. But because the government is going to be spending so much more money, I don't think it's going to reduce inflation at all. In fact, I think it's going to make inflation worse. But your -- your life is going to become much more tough. Now, I want to give you some more perspective on this. First of all, the American people. Just see how out of touch the American people -- the -- Washington is. Compared to the American people.

Just 12 percent of the new economist you.gov poll. Twelve percent of people think this will actually reduce inflation. The other time, three times as many, 6 percent. Believe it will actually increase inflation. Twenty-three percent believe they don't think the bill will move inflation either way.

And only 29 percent say, they are unsure. Now, this bill is climate and inflation reduction. You don't believe that it's actually going to reduce inflation. They don't ask if you think if it would actually help the green movement. And protect the earth. But they did ask this: Do you -- do you believe it will lower inflation? Average respondent? 51 percent, no. But do you support the bill?

31 percent said, they strongly or somewhat oppose the bill. The rest agreed with it. So who is confused here? You don't believe in it, but you support it.

Now, I'm not talking about you personally. But I'm talking about the American people. How is that possible?

That is because we still believe, that our government, somehow or another, there's still enough people believe that our government or your personal guy in Congress or in the Senate is doing the right thing.

I don't know how this is working. It -- well, I do. They didn't ask another question, in that poll. Do you actually know what's in it?

I can guarantee you, most people don't know what's in it. But let me give you a couple of things. And let's start with the big one.

The inflation reduction act, will give the IRS $80 billion, in additional funding. So you know, that's a 600 percent increase of their budget. 600 percent.

They will hire as many as 87,000 additional employees for enforcement. The increase would more than double the size of the IRS work. Which currently has 78,661 full-time staffers. So they have 78,000, they're adding an additional 87,000. To give you some perspective, the Pentagon. You know how many people work at the Pentagon? You know a huge building that goes on and on and on. Pentagon. World's largest military. The Pentagon houses 27,000 employees.

27,000!

We're talking over 160,000 IRS agents. The State Department employs 77,243. The FBI has 35,000 people. The customs and Border Patrol employs 19,536 Border Patrol agents. This will make the IRS bigger than all of those agencies, combined.

Now are you for this act? It's a little too late. But are you now for this act?

This is going to be staggering. And here's where it really will impact you. In the bill, in fact, I want to -- page -- page 529, of the Inflation Reduction Act. It will pay -- pay farmers to not farm. They want -- they want to restore the soil. So the measures will include plowing your soil less. Implementing climate-friendly crop rotation techniques. And planting cover crops, that do not yield any food.

There's 20 billion dollars available, September 30th now. To diminish the climate impact from farms. They are going to start paying farmers, not to farm. And then you'll be fine. They're also going to now, hmm. I would like to say encourage you. But what they're going to do to the farmers is tell them, exactly how they can farm. They're going to tell them now, just like they are over in Europe, where the farmers are going out of business and on the streets, protesting. They are now going to tell them, that they have to adopt more climate friendly provisions. They are going to regulate what you can feed your cow. They're going to -- they're going to also tell you what you can grow. How you grow it. What you can use as fertilizer. And the fertilizer that we're all used to. You know, the one that grows one-third more than the old fertilizer. You're not going to be able to use that. Now, we're entering a global food crisis.

Farmers all around the world are going in on this nonsense. It's not working. All around the world. And we've just implemented it, and we're hiring 87,000 new IRS agents, to make sure you comply.

Well, this doesn't have anything to do with the taxes. Oh, yeah. It does. Because you will be getting subsidies. Oh, yes. It does. Because you'll have an ESG score, if you're a farmer.

This is going to devastate our farms. Have you ever noticed, that whenever communists take over, the first thing they do, is kill usually everybody who disagrees with them.

They take out anybody who is ever successful at something. Look at the difference between GM and Elon Musk. Look at the difference between what he's building, and what all these other guys had been building. But all these other guys had been building. The guy is building a spaceship to Mars. The guy has transformed the automobile. And yet, he's on the outs. They're coming after him. I can guarantee you, some of those 87,000 IRS agents are just going to work on Elon Musk and his companies. So they first come after anybody who is a capitalist. Anybody who disagrees with them. Anyone who can do anything. They get rid of them, if they can't co-opt them. Then they go after the farmers. And then when there's a problem with the farmers, they then kill the farmers. Or take their land away. And say, you're not doing it right. Well, because farmers have farmed for generations. They know the things that they have to do. It's not like farmers don't know to rest their land. Or to change their crops. Of course, they know that.

They're farmers. Now we have eggheads coming in. And it happens every time communists take control. That's why people end up eating the zoo animals, and then their dogs.

This is really very dangerous. Oh, by the way, in Europe, they're already to the next phase. The first phase was saying, the climate has to be controlled. And we have to control it through the farmers. The farmers then start to collapse. The farmers then start to take to the streets. And say, this is insanity. Well, the next phase is because no one knows where their food comes from. Or how to grow it. The next phase is already happening. The anti-farm sentiment is growing now in Europe. You watch. The farmers are going to get a really bad name. And the farmers are going to be blamed for the food shortages. You watch. I guarantee it. It's already happening in Europe. So now people are taking to the streets, and saying, it's these farmers that are at fault. This story, repeats itself, over and over again, until human beings learn the lesson.

The question is, America: Will we learn the lesson this time?

It's amazing, because on some of these things, we're behind. We have the results from Europe. And we're still doing it.