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RADIOFebruary 25, 2022

Is THIS Putin’s long-term goal for Russia by invading Ukraine?

President Vladimir Putin took both Glenn and his head researcher, Jason Buttrill, ‘by surprise’ when he invaded Ukraine on Thursday — just as U.S. intelligence had predicted. So, where do we go from here? What kind of US sanctions on Russia should we expect from President Biden? What is Ukraine’s strategy militarily, will this escalate into a full ground war, and WHAT could Putin possibly gain from this? Jason and Glenn break down Putin’s possible, long-term goal & more…

Transcript

Below is a rush transcript that may contain errors

I want to bring in Jason Buttrill who is with us now.

Hi, Jason.

JASON: Hi, Glenn.

GLENN: You and I have been talking about this for a long time.

We have spent a year on Ukraine. And this takes both of us by surprise. I have to hand it to the intelligence community. Although, I don't feel comfortable. Something is not right here.

But the intelligence community and the Biden administration said, this is what he was going to do.

And he's done it.

JASON: Yeah. I agree.

It's really crazy. Because when you study geopolitics. You learn to analyze and look at these things from that lens.

You're taught that, you know, geopolitics is a study of maps. Its demographic numbers. You know, it's interest. Hard-lined interest.

When someone starts acting emotionally, like Putin has been doing for the past year plus, you learn to put that away. And you say, okay. Well, he's obviously after something else.

Which I still think there's something else involved, just like you said. So when the Biden administration was kind of saying, this is happening. Full-scale invasion. All of that.

I didn't think anything was happening. I didn't. I was looking for something behind what was going on. Because this all seemed so irrational. But I think the intelligence community was spot-on.

I've seen reports they can't be it actually, the intelligence community coming out that false flag attacks would happen. That would be the preempt to them doing a full-on invasion.

They were exactly right. And the reports that said it delayed Putin's invasion by possibly a week. Like, they wanted to do this last week, not this week.

So the intelligence community and Biden administration were exactly right on this. Now, there's ways to criticize other things, which we can get through later. What they've done.

Just a quick recap. The media sort of reporting last night, that the invasion was going to commence around 4:00 a.m. Kyiv time.

And pretty much, that was spot-on. It happened around 4:10, 4:15 Kyiv time.

And it's very, very conventional from what I've been noticing all night. This is not like Crimea in 2014 with unconventional warfare. This is a very conventional invasion. What we saw commencing around 4:00 a.m. Kyiv time.

Was airstrikes that tried to command systems. That went as far as Kyiv. And it's a three-pronged attack, coming from Belarus. Coming from Crimea in the South, and from mainland Russia in the East.

Now, we do not bank how far they want to push this, but it is a conventional invasion. It looks as if they will probably go further than eastern Ukraine. Question in you is how far they will go. And how far tensions will rise, especially with NATO gathering troops all along the border with Ukraine.

GLENN: Okay. So let's -- it looks as though he was using conventional warfare.

To cut off the troops, as they were kind of gathered, at the borders of -- of the two districts, that President Putin said he was going to take. They went behind those lines. And kind of cut them off. So they can't fall back. To -- to defend could he have. Correct? is

JASON: Yes, that's correct. Because they know Ukraine's strategy here is they will get overwhelmed. Their main strategy is in the east, guarding those two territories, as you said.

Their strategy is to do a tactical retreat back into the urban areas of Ukraine. Then it turns into both a hybrid guerilla warfare, and heavy urban warfare in the large Ukrainian cities. That is very, very bloody. That is very, very dangerous to the Russian military. As well as civilians. Russia is does not want to kill too many Ukrainian civilians.

Because that will be very, very unpopular in mainland Russia. Ukraine strategy here, as I said, is get into the cities, and to turn it into an urban conference, draw it out for as long as possible. Russia wants to stop that. That explains why they dropped in behind the troops there.

GLENN: Can they take the whole country just by air, and cutting it all off?

JASON: They absolutely can take the whole country in the short-term. It depends on how effective their air assets are, and that's what we're seeing right now is the bomb from the air.

We're seeing cruise missile strikes. So cutting off command and control, all over the country, and crippling Ukraine. So they can eventually roll into the capitol.

That will happen, is my guess. Unless somebody else intervenes. Which I kind of highly doubt.

But a short-term victory is really all Russia can hope for here. And that's a really puzzling thing.

Because I can't imagine they will win in the long-term.

In the long-term, it will be too damaging politically for Russia. It's catastrophic in the short-term.

In the long-term, I don't see how they win in this, unless there's some other grander strategy, that we just don't even know about. Which would be scarier, actually

GLENN: Yeah, I think so too.

All right. Let me take a one-minute break. And then we will come back and discuss this.

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(music)
So we have some -- some puzzling things. First of all, Putin said, he wants to de-Nazify Ukraine.

Any idea what's that about?

JASON: Same writer since he's been using since 2014. And it's directed more to the people of Russia, not anyone else in the world, or Ukraine.

But he's been using that World War II sentiment. To get public support, to do what he's now doing.

But that will continue. And no doubt, he will provide some air quote evidence, you know, that they're taking out some Nazi -- but he's drawing on World War II nationalism.

GLENN: Well, he said that there's been an ongoing genocide in Ukraine.

That he's trying to stop.

I mean, this is crazy.

JASON: And that's what makes it so hard for me, when I was looking at this before. To really think that he was going to go through with it. Putin is not a crazy guy. He may be now, but in the past, he's not been.

He's been very cold and calculating. Geopolitical and interests has always been forefront in his mind.

GLENN: He's not a -- he's not a psychopath. I mean, well, he might be. But he doesn't -- he's not somebody driven by rage.

He is cold and calculating.

JASON: Yeah.

GLENN: And when -- I mean, he's out and out evil. He is a bloodthirsty killer, who has spent a lifetime killing people.

But he's logical in it. He's very calculated in it.

And the rhetoric, I mean, I think the Nazi stuff, the religious stuff. That's all -- that's -- that's Dugin kind of language.

JASON: Yeah. And that's a very, very powerful weapon for Russians. Because they're very much willing to suffer, and to -- you know, to -- to basically take it, on the chin.

If they have to. If that means that their country, you know, will eventually reign supreme.

It's interesting, if you go and take a tour of the Kremlin, the red tour in Russia, which I've done many times. You'll be very surprised, to see that the former Soviet Union, the capital, in their red square. Probably 80 percent churches. There's multiple churches.

There weren't religious during the Soviet Union. But historically, during the Russian empire, they were very religious. Orthodoxy is very, very pivotal to Russian nationalism.

And even the Soviets would turn that up, when they needed to. But that's exactly what Putin has done under Dugin, especially in that speech he gave last week. That was very, very telling, to a lot of us that had been looking at this. People like you and me, Glenn.

That okay. Now we know exactly what he's doing.

He's turning up that dial of nationalism, to justify doing, you know, what he's doing. And possibly even more. Which is scary.

GLENN: Okay. Would you agree with me -- and I would like you to explore this a minute.

There is no real obvious win for Putin. His stock market has crashed. This is going to be horrible. They are in the oil business.

They just made a deal with China. But that's years down the road. They're going to shut down all the oil exports into any western country. Because of this.

So his oil is going to crash, which funds his government, and his country. The stock market is down. Business is going to be cut off.

It's already in shambles, in Russia.

What does he have to gain here? Can you think of anything, that he has to gain?

JASON: I've always thought from the beginning of this, especially when I didn't think invasion would happen. I thought he was playing a game, to divide and conquer NATO. That's what I thought. And I still think that's a major part of his plan. Taking Ukraine is also very, very important, strategically for Russia. To get a strategic death.

It's always been their plan, was to have some buffer, so they could have their capital in Moscow.

GLENN: Yeah, but also the warm water port.

JASON: Exactly. When he's talking about heart of Russia, that's true. I don't think that really guides him. I think that's the excuse he uses to get support from home.

GLENN: Right.

JASON: But I think -- and it's very irritating I think that -- we're talked about, Putin is not a psychopath. I think he's very spiteful. I think that the Russian election interference, which I don't think did anything. I don't want to say it did. But their election interference thing is a direct response to Hillary Clinton, and what they did to his election.

I think that a lot of what we're doing now, is a direct response to how the Obama administration and all his foreign policy elites handled 2014 Ukrainian revolution.

I think he responded to these people, directly in kind. That's also the reason why he was willing to back off of this when Trump was there. He knew that's not how they operated. And they weren't the ones directly responsible for what happened. And I think it's ridiculous, that NATO wouldn't respond. Wouldn't say, hey, we will not admit Ukraine into NATO. Why couldn't they say that?

NATO was irrelevant. And the irony of this is now that Putin is responding to that, it's making NATO relevant again. I think eventually his goal is to play the long game.

Eventually, there will be NATO countries. Like Germany will not want to attack. They won't want to send troops. That will cause a divide in NATO. That's going to cause a divide between the UK and France. They won't want to attack either.

And, eventually, this will play out, where NATO will do what he wanted. He wanted NATO to do a draw. That benefits China and everybody else on Russia's side.

His ultimate goal is the long game. Divide NATO. Possibly the end of NATO. And get strategic deaths with Ukraine.

GLENN: Okay. Thank you very much, Jason. I appreciate it.

I will give you another perspective, when we come back.

Because I -- I just don't think -- I mean, I agreed with, he's trying to break up NATO. But not anymore.

This is costing him too high of a price at home.

What could he be angling for?

I'll throw a couple of ideas your way, next.

‘STUNNING’ statistics PROVE the church may be in DANGER

A recent report found that only 37 PERCENT of Christian pastors bring a ‘Biblical worldview’ with them to the pulpits. And, for Catholic priests, the numbers are even worse. Glenn breaks down these ‘STUNNING’ statistics which prove that the Christian church in America may be in BIG danger…

Transcript

Below is a rush transcript that may contain errors

GLENN: By the way, there's a couple of things hear. Only half of evangelical pastors hold a Biblical worldview.

Now, this might be a little shocking for people who go to church. A study released Tuesday builds on an other report from American World View inventory 2022, which shows that 37 percent of Christian pastors bring a Biblical worldview with them, to the pulpits.

Now, a Biblical worldview is -- do you -- does every person have a purpose and a calling is this

Do you have a purpose for being here? And can God call you to something? I'm asking you, Stu.

STU: Why are you asking me, without the echo in your voice?

GLENN: Because I don't want you to feel damned, immediately.

STU: Oh, okay.

GLENN: So do you feel the purpose in calling?

STU: Sure.

GLENN: Family and value of life. Those come from God.

STU: Yes.

GLENN: Do you believe in God?

STU: This is a tough one. After the previous two, but yes.

GLENN: Do you believe in creation? I know this is weird. Creation and history?

STU: I believe in history. I just believe in --

GLENN: I believe in creation. Do you? I mean, intelligent design. I don't know how he creates.

STU: Yeah. I don't find that question to be as riveting as some do. I don't really care how he did it, honestly. But it's on him.

GLENN: It's like, oh, we got you there. So you're saying, dinosaurs aren't real?

STU: Yeah. I don't really -- I don't know all the details to it. It wasn't there. I will say, I don't know how an i Phone works exactly. But I'm glad the texts go through.

GLENN: But I don't believe in Steve Jobs. He never existed. That just, all of a sudden appeared on a beach somewhere.

STU: Right.

GLENN: Let's see. Do you believe in sin? Salvation and relationship with God?

Do you believe in behavior and relationships, the Bible, and its truth and morals?

STU: I think.

GLENN: Yeah. I think those are all pretty easy. Only 37 percent of pastors. Believe in that.

STU: Oh.

GLENN: I mean, you might want to put that on the front sign. You know what I mean?

Like, hey, come in. Try our doughnuts. And we don't really believe what you think we believe.

STU: Well, this happened to you. Right? When you were doing your church tour. Back in the day.

GLENN: Oh, back in the day. We went to every church. Every religion. Because my wife wouldn't marry me without a common religion.

And I'm like. I love God and everything. But religion, I --

STU: This is a long time ago. This was not you, at the time though.

You were not. This church tour happened, in what? I don't remember what year it was.

GLENN: '99.

STU: Wow, it was a long time ago.

GLENN: A long time ago.

STU: You were finding your way. Mainly because your wife wouldn't marry you if -- you're forced into it.

GLENN: Right. I was forced into it. And she didn't believe in premarital sex either. And I'm like, okay. Chickaboo. I said, what is it going to take? And she said, God. Here I am. I'm practically a god, look at me. No.

STU: A Greek god.

GLENN: A Greek god. She vomited. And then I went to church. So we tried everything. I mean, we -- I really liked a Jewish synagogue we went to. Except you couldn't eat a lot of good things that I liked. And I don't speak a word of Hebrew. But it was in and out on Saturday, and it was pretty good. I since learned there was more than that.

STU: Yeah.

GLENN: But I went to this church. And it was. What do they call those churches? Congregational, right? The white churches on the greens.

Yeah. I think it's congregational churches. And they're non-denominational. And so I'm sitting there in the pew. And Tania and I were listening.

It's okay. It's church. And during it the sermon. The pastor said, now, you all know that I don't believe in God. But if there is a God, we should serve him.

And I'm like, hey, that doesn't make any sense at all. Okay?
(laughter)

GLENN: And that should be on the front door, someplace. Before you go and sit down, you should just know, our pastor does not believe in God. But if there is a God, maybe we should serve him.
(laughter)
You know, good safety tip there. So back in just a minute. I'm going to give you a reason on why I'm telling you this latest survey. It's crazy. Finnegan is a 12-year-old Husky Lab. And Daniel not his owner. That would be wrong.

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Get your free bag now. 833-G-L-E-N-N-33. Or RuffGreens.com/Beck. Ten-second station ID.
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GLENN: On only 30 percent of Christian pastors believe and have a Biblical worldview. I mean, if you're not talking about sin and, you know, how to be a better Christ-like person. And how do you -- 37. What are they teaching?

STU: Those are the questions. The specific questions asked. Certainly, there are differences among denominations. And various questions.

But these are pretty basic points.

GLENN: Are these eight categories. Eight categories. Purpose and calling. Family and value of life.

God, creation and history. Faith practices. Sin, salvation, and relationship with God. Human character. And nature. Lifestyle. Behavior and relationships.

Oh, and the Bible. Truth and morals.

STU: Yeah. I know there are obviously disagreements on some of the intricate matters of faith between denominations and pastors.

GLENN: Sure. But 37 percent.

STU: The only thing I would ask, who is the defining Biblical worldview there? And I would assume --

GLENN: The bible.

STU: If you're assuming broad categories like that, that's a stunning number.

GLENN: Stunning. Stunning number.

STU: To the point of, how is it possible?

GLENN: So 57 percent of pastors leading non-denominational and independent churches, held a Biblical worldview, a nationwide study in February. Conducted in February. Nondenominational and independent churches were more likely to subscribe to a Biblical worldview than evangelical churches. Perhaps most surprisingly 48 -- 48 percent of pastors of Baptist churches, widely viewed as the most enthusiastic about embracing the Bible. Held a Biblical worldview, 48 percent.

Pastors of Southern Baptist churches by contrast were far more likely. 78 percent, to have Biblical beliefs. The traditional black Protestant churches and Catholic priests, I'm sorry. Just -- wow. I just had to read this again.

Traditional black Protestant churches and Catholic priests, were found least likely to hold a Biblical view. With the incidence of Biblical worldview, measured in the single dingles. Black churches. 9 percent of pastors and Catholic priests. 6 percent.

STU: I feel like you ask atheists, if you have a Biblical worldview. You would have higher than 9 percent.

GLENN: I think I could give it to Penn Jillette. And he would be like, you know.

STU: At 14 percent. I'm at 14 percent.

GLENN: Yeah. That's crazy. In churches with an average of 100 or fewer within attending weekly services. 41 percent of the pastors had a Biblical worldview. Larger fellowships with 100 to 250 adults fared better, with 45 percent.

However, 14 percent of pastors leading mid-sized churches, between 250 and 600 people. 14 percent.

And 15 percent of pastors with congregations of more than 600 adults. That's crazy.

STU: Yeah. That's hard to understand how that's possible. Why would you be involved in this business, right?

I hate to call it a business. It's your life's work. It's your career. Right?

GLENN: It's like. You know what it means? It's my uncle who is the head of safety at Boeing for years, and he would never fly. He would never get on an airplane. And he would be like, uncle Dave, what is that? And he's like, if you fly, you have to fly a Boeing.

STU: If they can care about it a little.

GLENN: It is my uncle, who is the head of safety at bowing for years. Okay.

STU: Okay.

GLENN: And he would never fly. He would never get on an airplane.

STU: Right.

GLENN: And you would be like, uncle Dave. I don't. What is that? And he's like, if you fly, you have to fly a Boeing. But there's no reason, logically that that thing should be able to take off and fly. I don't know if you're the best for safety, you know.

I think that's -- my uncle Dave should have been a priest maybe.

Glenn reads leftists’ CLUELESS reactions to SCOTUS decision

The far-left proved once again it’s members care very little about ‘peace.’ In fact, some reactions from leftist, blue checkmarks on Twitter show just how ANGRY they can be…especially when it comes to the Supreme Court preserving the Constitution and returning rights to the STATES. Glenn reads several of their reactions to SCOTUS' recent decision that further protects the Second Amendment...

Transcript

Below is a rush transcript that may contain errors

GLENN: Boy, I just wanted to go through some of the blue checkmark responses from yesterday. Because, gee. I just -- I just don't -- I just don't know what else to say. They were so right on target. Now, that's -- that's a joke. I didn't mean it. I didn't mean it actually target. You know, like Sarah Palin actually meant it. Alicia Sultan. Or Ashia, or whatever her name is. She says, God forbid. Listen, you're listening right now to a guy who is in the Radio Hall of Fame. I am so good at what I do. I don't even need to know how to pronounce names. I don't have to. They were like, this guy is like a radio god.

Yeah, but have you heard him?
Yeah, put him in the Hall of Fame.
Anyway, she said, God forbid, someone you love gets killed by gun violence. I second that. Second Amendment fetishizing will never bring that back, or a make that loss easier to bear. Yeah. I agree with that. I mean, hang on. Let me just take the ball out of my mouth here. I have this fetish thing with the Second Amendment. It is hot. Too many people believe that unfettered access to guns will never hurt someone they love, until it happens. Okay. I don't know what your point is really here. Marion Williams says. People will die because of this. And to be very clear, now, listen to this argument.
To be very clear. They're not doing this to protect the Second Amendment. They're doing it to protect the primacy of property rights.
Well, gosh, that's a good reason to do it too, I guess. Huh. I didn't even think of the property right part. But thanks for pointing that out, Marion. Neil Cattial says, it's going to be very weird if the Supreme Court ends a constitutional right to obtain an abortion next week. Saying it should be left to the states to decide, right after it imposed a constitutional right to conceal and carry firearms. Saying, it cannot be left to the states to decide.
Neil, here's what you're missing, dude.One is actually in the Constitution. It's called the Second Amendment. That tells the federal government, and the states exactly what they can and cannot do. What government cannot do. There is no right to abortion. I -- show it to me. Show it to me. When you can show it to me, I will change my argument. That, when it's not in -- I'll talk slowly for you, Neil.
When it's not in the Constitution, then, there's this part of the Constitution and the Bill of Rights. It's -- it's -- just look for the number ten. Okay? And that says anything that's not specifically in the Constitution. That goes then to the states. Yeah. Look at you. You're going to read something.
Jill Flipuffock says -- says the kind of people who desperately want to carry concealed weapons in public, is based on a generalized interest in self-defense are precisely the kind of paranoid, insecure, violence, fetishizing people, who should not be able to carry a concealed weapon in public. Okay. So let me get this right.
If you want to carry one, you're the kind that shouldn't carry one. So, in other words, when -- this is right. Jill, my gosh, my whole world is changing. Thank you for this. Now I understand when Martin Luther King went in and said to the state officials, hey. I need to have a concealed carry permit. He's exactly the kind of guy, you Democrats didn't want to carry a gun.
Yes! Jill, thank you for that enlightenment. David Hogged says, you're entitled to your opinion. But not your own facts. And like your own facts, you're not entitled to your own history. That's exactly what the Supreme Court decision is. It's a reversal of 200 years of jurisprudence that will get Americans killed. David, David
Have you read a book? Come on. Do you know anything at all -- name three founders. Can you do it? Right now, think. Go. Can't do it, David. 200 years.
Our -- the only times -- the only times in our history, and you wouldn't know this. Because you bury all the left. Buries the Democratic history.
The only time that we have any kind of history, where we're taking guns away from people, is when the government is afraid of those people. When the government gets really, really racist. Okay? That's why the Indians, yeah. That's why they're living on reservations now. Because we took away their guns. Yeah. Yeah.
That's why after the Civil War. And before the Civil War, slaves could not have guns. Why?
Because they might defend themselves. And then, after they were freed, oh, my gosh, the Democrats freaked out. Those freed slaves, will have a way to protect themselves. And they got it done through all kinds of laws, kind of like what you're doing now.
Thank you, David for writing in. You're special. March for Our Lives. Blue checkmark said yesterday.
The court's decision is dangerous. And deadly. The unfairly nominated blatantly partisan justices put the Second Amendment over our lives. No. I -- I -- may I quote the Princess Bride? I do not think those words mean what you think they mean. Okay?
Second Amendment is there, to protect our lives. To protect our property. And to protect our freedom.
I just want to throw that one out. The blood of American people who die from needless gun violence will be on their corrupt hands.
Okay. Wahajit Ali (phonetic) said, let's have a bunch of black, brown, and Muslim folks carry large guns in predominantly white neighborhoods.
I know the Second Amendment advocates will say that's great and encourage it. Because American history proves otherwise. We might get gun control. But we would also get a lot of chalk outlines.(laughter)Mr. Ali, you are so funny.
See, what you fail to recognize is that all of the people that you say are racist, aren't racist.
There are racists in this country, a lot of them seem to come from the left. You know, like the socialist Klan members. Or the socialist Nazi members. You see what they have both in common?
Yeah. Democratic Party. Anyway, Mr. Alley, if someone wants to carry a gun. And they're a Muslim. I have absolutely no problem. You're brown, you're pink, you're polka dot. You have covid and you're not wearing a mask. Or you don't have covid, and you're wearing 20 masks. And you want to carry a gun. I'm totally fine with that. Now, if you get a bunch of people. And, again, I don't care what color they are. Marching down my neighborhood, with large guns. Yeah. I am going to call the police because that's unusual.
What are you doing? We're just marching with our guns. Why in my neighborhood at night?
None of your business. Does Kavanaugh live around here? See, there's a difference. There's a difference. Right-wingers can freak out about nullification or packing or whatever.
No one cares. You broke all the norms of decency, democracy, and fairness. Oh, my gosh. Oh, wait. Wait.
This is from David Atkins. He has a great solution. At the end of the day, California and New York are not going to let Wyoming and Idaho tell us how we have to live in a Mad Max gun climate hell.
Oh, my gosh. David, let's break some bread, baby. Let's come together. Yeah. All right. Let me do my best Marianne Williamson.
Yeah. Yeah. Because we can come together. What you just said is the point of the Tenth Amendment. California and New York, I don't want to live like them.
You don't want to live like us. So let's not. Let's not. However, there are ten big things. And I've heard they've added to these. But there are ten big things, that no government in the United States of America, can do. Now, you want to change that, let's change it. Because what's so crazy, is there's this thing called the amendment process. You want to change the Constitution, you don't -- what -- all norms of decency. Democracy and fairness. You don't break those.
You want to change those amendments. You can do it. All you have to do is go through the amendment process. And then if you say, everybody has to have a pig on their lap. You get the states to vote for that. Put it on the amendment. You have it. Now, probably there would be another amendment that comes later. That says, hey, the big in the lap thing is really, really, stupid, and I think America lost its mind temporarily. So we're going to scratch that one out. From here on out, no. Absolute must have a pig on your lap kind of loss. Okay?
But both of those would be done through the amendment process. That would be doing it the decent way, the fair way, and the Democratic way. But David, you are cute. When you think, you're cute. Tristan Schnell writes in, when American service members die oversees, their caskets are brought to Dover Air Force base to be displayed and mourned. No, they're not displayed. I don't know if you've noticed this. But we try not to display the dead. But when Americans die because of gun violence, their caskets should be brought to the steps of the Supreme Court. So the justices can see what they've done. Yeah.
Tristan, I like that. Why don't we take every baby that's been aborted, and put them in a bucket. I mean, we're going to need a big bucket. Because there's millions of those.
And let's dump them, on the front steps of the Supreme Court. So they can see what they've done. Wow!
I got to thank all the blue checkmarks. Because you've really turned me around.

Why the Fed’s ‘MATH PROBLEM’ may result in MORE inflation

Yes, it’s possible for our economy to suffer from extremely high inflation while certain goods, products, and services experience DEFLATION as well, Carol Roth — a financial expert and author of ‘The War On Small Business’ — tells Glenn. The Fed actually is TRYING to deflate the economy, Roth explains. But while they’re saying one thing, the Fed’s current policy shows the exact opposite. And that ‘math problem,’ Roth says, is what could cause our economy to experience even more, ‘prolonged’ inflation. It’s a ‘dire situation,’ and there seems to be ZERO leadership willing to fix it…

Transcript

Below is a rush transcript that may contain errors

GLENN: Is it not possible to have super high inflation, on some products. And super low deflation. Prices that are -- that are crazy.

Because they -- nobody is buying them, in other categories. Is that possible to have both of those?

CAROL: Yeah. I think that the best analogy for that would be kind of the '70s. And something that looks for stagflation. Where the economy stagnates. And it stagnates, like you said, because all the money has been sucked up in a couple of categories. And there really is a lot to go around in other places. There's not a lot of investments being made, and what not. But we still end up having high inflation. And we are certainly, a lot of people feel like we're in that sort of stagflation, you know, arena, right now. And it can continue on the trajectory. But you have to remember in terms of deflation. I mean, that's what the Federal Reserve is trying to do. They are actively trying to deflate, you know, not just the bubbles and assets, but they're trying to deflate spending, to cool off the economy. That's why they're shutting off their balance sheets. That's why they're raising their interest rates. It's meant to cool off demand. And that's the math problem that I keep talking about. They keep saying, oh, the consumer. And businesses are going to save us from a recession. But at the same time, the policy is meant to do the exact opposite. The policy is meant to make it, so that people aren't able to spend in the same way. So those two objectives are at odds with each other. And so I do think, that we could end up in this prolonged period, like you said, where the inflation hasn't quite gotten under control. Especially since we have so many supply demand imbalances in our economy. We have a labor imbalance. We have a food imbalance. We have an energy imbalance. And we have a commodity imbalance. And that's not going to it be solved by any monetary policy. That requires real action. And we don't have leadership, that's willing to lead or frankly do anything.

GLENN: So we have -- as I see it, we're looking at a situation. Again, I'm going back. And please, correct me where my thinking is off. But I'm going back to the Great Depression. So people were afraid. They held on to their money. They spent what they had to, and what they could afford. But nothing else.

That caused the labor market to shoot out of control. To -- to about 25 percent unemployment. Because the factories were closing down. Because no one was buying anything, from the factories. Which then, in turn, made FDR say, we're going to build the Hoover damn, to give people jobs. But it was all the government money, which would have just caused more inflation, if I'm not mistaken. Had it not been for the -- and I hate to say it this way. But the saving grace of the Second World War. Right? Were we in a death spiral? I mean, the war was definitely a different kind of reset. And I think a lot of the logic that you're talking about makes sense. If consumer sentiment is really important. And it becomes a self-fulfilling prophecy, if people don't feel confident, they don't go out and spend. They're worried about their inflation. And being able to feed their family. And get to work. They aren't going to spend -- I think there are a couple of things that we have that are different. And it's not necessarily better for the average American. So I just want to be clear. That I'm on your side, and I'm not saying that it's better.

But because of this huge supply and demand imbalance. We have two jobs available for every person looking. The likelihood is that that probably contracts to be, you know, a better match, than having massive unemployment just because of that scenario is going on. And we also have a whole slew of Americans, who are doing -- you know, have done very well. They have been the beneficiaries of this giant wealth transfer from Main Street to Wall Street. So I think we're going to have a lot of, you know, different outcomes. You know, that inadequately, that's been driven by government policy. And that's never a good thing. Because, you know, the social unrest that comes with it. And rightfully so. Because, you know, these policies have really put the middle class. The working class. And in some cases, the lower class, at risk, to the benefit of the people on the inside. And so the numbers on average, may not show how dire the situation is. And so they'll be able to spend. And say, oh, everything is great. And the consumer is doing well, when people are really struggling. And, you know, that's going to be when we continue to just be furious. And, you know, demand something be done about that.

GLENN: Carol, thank you so much for everything that you do.

She's just issued a new paper. A new piece for TheBlaze. What the heck is going on in bitcoin. And you can find that at TheBlaze.com. TheBlaze.com. What is going on with bitcoin, by Carol Roth. Thanks, Carol. God bless.