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SHOCKING inflation price comparisons show Biden is FAILING US

What did a gallon of milk, a dozen eggs, a lightbulb, or a loaf of bread cost at the grocery store before Biden entered the White House? And what do those items cost today? What are they projected to cost in 2024, if America continues down its current path? Glenn details all those price comparisons — plus more — showing just how badly the Biden administration — thanks to its inability to handle inflation — is failing us. 'We MUST turn this around,' Glenn says. 'But our government, our fed, and our administration are incapable of taking the right steps.'

Inflation by the numbers


Transcript

Below is a rush transcript that may contain errors

GLENN: All right. I want to talk to you about a couple of things. First of all, I want to build this case with you, I'm going to tell you exactly what I'm doing, and what I think you should do as well.

Well, I was going to do it, and then I decided not to. Because I've had so many boating accidents lately, Stu. So many boating accidents.

STU: You, just as a friend, don't think you can boat. Because you can't seem to keep these things afloat. What are you making them out of? Cement.

GLENN: I know. And the latest, gone. Gone. Down at the bottom of the lake.

STU: Did you think about maybe getting a submarine, going down there, getting your guns.

GLENN: I can't do it. It's too deep.

STU: Too deep?

GLENN: Anyway, so I'll give you some solutions here to this. But I want you to listen carefully, and check all these numbers yourself. If you care to.

First, you have a problem with inflation. We all know that. We all can feel it. We can see it. It wasn't caused by Russia. It is caused by the Federal Reserve. It is caused by spending too much money, and printing even more.

I say it's caused by the Federal Reserve. They didn't spend the money. Yes, we have a debt now of $30 trillion, that if interest rates go up to about five or 6 percent, we will not be able to afford anything, but the interest on that debt.

Okay? Now, we know that's happening. The Federal Reserve also has printed and given the banks untold trillions of dollars. We know that they gave $30 trillion to the bank. By -- to the banks, by 2010. That news has just been released due to a FOIA request. We have no idea what they've done in the last two years.

STU: Okay. Can I just add to your point on interest here, Glenn? This is according to Brian Riedl over at the Manhattan Institute. For every point that interest rates go up, just a point, that adds $30 trillion to the debt. Over the next, I think it's 30 years. Which is the same amount, that we would spend in that period.

On defense. So every single point, interest rates go up, we owe another $30 trillion, at like -- we're adding an entire new U.S. military every time one of these things goes up one point.

GLENN: So we just raised the interest rates, the fed did by a quarter point. And said, five to seven more hikes are coming. Okay?

STU: My gosh.

GLENN: All right. So let's just talk about real stuff here for a second.

I wanted to show you what the price of things were, what the price of things are. And what the price of things will be, by -- by Election Day, 2024. Okay?

We must turn this around. But our -- but our government, and our fed, and our administration, are incapable of taking the right steps.

This is just inflation. The numbers I'm going to give you, just inflation. This doesn't include extra regulation or shortages, or anything else. This is just because the value of your dollar is going down.

Prices aren't going up. The value of your dollar is going down. Now, I use not 7.9 percent CPI to project into the future. I used shadow status. The reason why I did this was because everybody was comparing this to the days of Jimmy Carter. No. It's worse than the days of Jimmy Carter. I'm using the shadow status. Because this is the way the government calculated inflation in 1980. They changed that calculation because it was looking bad for the United States government and the fed. So they changed it. But if we look and measure the same things. The same way. We'll get the inflation rate that is 15.5 percent, not 7.9 percent. So this is from Shadow Stats. That's how we calculated these. I made some chart, but I'll read them off. In case you happen to be watching TheBlaze, you'll see the charts. If not, let me just tell you where we're going to start, and that is with hamburgers.

When Biden was elected, when Biden was elected, a hamburger was $4.40. Today, I think you guys are working on the wrong -- you're working on the wrong end of the -- that's the last slide. Look for hamburger.

When Biden was elected, it was $4.40. Today, it's $6.01.

STU: Jeez.

GLENN: 2024. November. The time the next election, just with inflation, that's it. No food shortage. Nothing. Just due to inflation, are you better off than you were four years ago? Hamburger was $4.40. A hamburger will be $7.95.

STU: Wow.

GLENN: When Biden was elected, this is just due to inflation. When Biden was elected, gas was $2.18. Today, it's 4.41. November 24th, with no shortages, no war, nothing. Just from inflation. 5.83. When Biden was elected, milk was $3.20. Today, it's 3.89. Just through inflation, in November 2024, the price of Biden milk will be $5.15.

STU: I got news for you, I don't care what the price is, I'm not drinking Biden milk. That just sounds icky. You can milk anything with a nipple.

GLENN: You're not the one milking him either. It does.

When Biden was elected, the price of a lightbulb was 1.57. Today, it's 2.55. A price of a lightbulb, when the presidential election in 2024 is happening, will be 3.37.

When Biden was elected, eggs, a dozen, 1.45. Today, 2.35. November '24, 3.11. When Biden was elected, 1.50 for bread. Today, it's 1.67. November 2024 projection, 2.21. That number is going to be wildly different, and you'll understand why, here in a minute. When Biden was elected, just because of inflation, houses were 358,700. Today, they're 414,123. November '24 projection, 547,885. That's the average home.

STU: Gee.

GLENN: When Biden was elected, $22,095 -- what? $22,951 was the price of a car. Today, it's 30,603, if you can get one just -- just through -- just through inflation, that number will jump from 30 to 40,488.

STU: Just some quick personal news here, Glenn. I celebrated this weekend, my seven-month anniversary, with an order of my car.

Thank you. It's still not here. They haven't even taken the order yet. But seven months in, I'm doing well.

GLENN: That's great. That's great. Have you thought about a horse?

Now, let me give you something else. Now, these are just projections, and you can find -- we'll publish all of this. You can find how we made all these projections. But they are just projections. These numbers can change dramatically. But we wanted to add in the geopolitical instability factor.

So we know about wheat. And I've got something I've got to share with you in a minute.

We know about wheat. But we are kind of -- we're being, I think, very conservative on some of these numbers.

A hamburger. The price I just told you, add 25 percent, if things continue to go geopolitically as they are.

Gas, if things continue, the instability factor, you'll need to add 30 percent to that gallon of gas. 15 percent added for milk. 5 percent for lightbulbs. 15 percent for chicken.

I don't think -- or, sorry, for eggs. I don't think that's high enough. You'll understand why, here in a minute. Bread, up 30 percent. Housing, down 25 percent. And cars, down by 25 percent.

I agree with the housing, not necessarily so with the projection of the cars. But I left this to the experts and be our team to put together the numbers.

Number two, I'm going to take a one-minute break. And then I'm going to tell you the truth, that no one is willing to talk about, about what's really going on with food.

And why you need to begin to prepare, right now.

GLENN: Stu, have you ever listened to the podcast, all-in.

STU: Yes.

GLENN: Okay. Really good. Really bright guys. Generally speaking, more independent now. But they've all been Democrats. Staunch Democrats. I think, except maybe one of them.

And they're all experts. In different fields. And all friends. David Freedberg is one of them. And I was listening to the podcast. And they asked David a question. Now, David used to work for Monsanto. And he doesn't work there anymore.

But he believes in, you know, Monsanto. Think GMOs, et cetera, et cetera. If you're against GMOs, don't dismiss him. Because I got the facts from him, on the stats. But we're not talking GMOs. We're just talking about looking at the market, and what is really happening.

So when you're looking at food, understand that 15 percent of all global calories, come from wheat and rice. 25 percent. Sorry. 15 percent.

One-third of all of our wheat, comes from Russia and Ukraine. We're supposed to be planting crops, all around the world, right now, for wheat.

Not happening in much of Russia. Not happening anywhere in Ukraine. Next stat you need to understand, our food supply -- you know how the cars had just in time. Our production lines were all just in time.

And that's why we can't make cars. Because there are parts, that are sitting somewhere, you know, crossing the ocean. Sitting on a dock someplace. The whole supply chain has broken down. Because it's just in time. It arrives just in time to put it into the car. When you have a disruption, it just bogs everything up. And unclogging, we don't really even know if we can unclog it, and get it started again. But it will take years to do it. That's the supply chain, for stuff. The supply chain for food is 90 days. We have 90 days' worth of food in the supply chain. That is from the grocery store, to the garden, and everything in between. If it stops, we stop -- let's say, we for some reason stop all farming, we would have 90 days left of food worldwide. Okay? 25 percent of all global production, is food. We're about to lose 12 percent of production. That means, we're losing half of our food supply, of wheat. Half of our wheat food supply.

This is going to hit places like Africa first. And it's going to hit places of poverty, unlike anything we've ever seen.

800 million people, currently on earth, live below 1200 calories per day. So you know, the Germans would not allow Jews to have more than 600 calories a day.

So they're only double the amount of calories, that the Jews got, during the Holocaust. And we all remember what they looked like.

If they're at 1200 calories today, and they're in -- in places that are poor, which they most likely are, those calories will be either cut off or greatly reduced.

Now, the bigger problem is fertilizer. And energy. The energy price for run the trackers. To run the trucks. To run everything else.

And the price of phosphorus and potassium, potash, and Nigeria. Those are the three major things we use, to make fertilizer. Natural gas, 90 percent of ammonia is made from natural gas. Prices in natural gas, have doubled. And in some places, gone up 4X.

It's gone from $200 a ton, to $1,000 a ton. Phosphorus, 10 percent of the phosphorus from Russia, and 20 to 25 percent of all of the potash comes from Russia. It's now been banned in Russia. They cannot sell it. We cannot buy it.

They said, oh, you're going to cut us off at the bank. Great. We'll cut you off on this.

Potassium is up to $700, phosphate went from 250 to $700. This is causing so much stress on the farmers. That farmers all around the world, are not planting their fields.

They are reducing the acreage. Because without fertilizer, you're not growing much. So why plant all those fields? It's not going to be a good year, they're thinking.

So as they -- as fertilizer goes up, they pull more and more acres. So far, the price of corn has doubled. Soybeans. Wheat. Skyrocketing. The strategic food reserves, in some parts of the world, are now opening.

We better have perfect weather all over the world. Just because, if things continue the way they are and don't turn around quickly, and we can't get fertilizer, hundreds of millions of people, will experience famine by the end of the year.

We need to do everything we can to support our farmers, we need to understand what's coming. And you need to have a garden, plant some seeds. Live by a farm, and help them. Or start storing food now.

More on this, in a second.

GLENN: Rising fuel prices are taking a toll on small businesses. Owners from everything from furniture retailers to swimming pool service companies are trimming their services and revising contracts because the financial hit is getting worse and worse and worse. Keeping store owners wide awake, trying to figure out, what are we going to do?

Well, first of all, there's a couple of things we should do. Let me go back to food for a second. The governments around the world are buying up large swaths of food right now. Commodity prices going up. Not just because of traders. But because of governments are trading -- governments are like, we're going to buy our corn right now. And first in, first out.

Countries like -- that are in Africa, they're going to have a really hard time. They're not going to get the food, that they desperately need. But neither are other countries as well. We're all going to take a real hit on this. Especially if we don't have good weather. If we -- you know, we don't have fertilizer. We should, as a nation, be doing everything we can right now to help the farmer. Everything we can, right now, to get fertilizer. You know, everybody is worried about the price of inflation for the average person. Okay. That's really bad. And we're all hurting. But if we don't take care of the farmer right now, and get him fertilizer, and make sure he can afford the things that he can afford. Or they have to afford.

Our inflation is the least of our problems, it will be shortages, next year. Now, they are -- governments are buying up food. But governments all over the world now, are also, while they're doing that, telling you not to hoard. And I'm telling you, also, not to hoard. But I am telling you to prepare for your family. And then others, that will be hungry.

We have to help each other, through this. There are going to be people, who just can't make it. And they'll have to bring another skill. It's going to be barter, I guess. But we're just going to have to help each other. If you can grow food, plant this spring. Anything you can do it ease the burden on your family. And others, do it. When you go to a store, if you are going in, and you're going to buy macaroni and cheese, and you only need one box, buy two. Put one away.

Use the other one. When that one box is done, don't reach into the pantry to get it. Buy a second box. As I showed you just a few minutes Al Gore, just because inflation, that box, a year from now, will be costing you a lot more money at the store.

And when you hit a breaking point, you'll have some food storage. But be careful on what you think your breaking point is. Because real, real trouble is coming, and we have to be prepared, and we have to be prepared to help others.

That -- this is, I think, the beginnings of the times when I have felt, since the beginning with you, that you are going to may a role in saving this nation. And I think this is the beginning of it. Preparing for those in need.

And it is going to be really, really, really hard, because you're going to be like, I prepared, they didn't.

I know. I know. But we're in this together. You have to take care of your family first. But we're in this together.

That doesn't mean, that -- that doesn't mean that you should tell the world what you're doing. Because governments will come in. And they'll start to make it illegal to hoard food. They will start to demonize people first.

As hoarders. This is a while away, I think.

But that's what will happen.

So just keep your mouth quiet, and it don't be needs to know your business. Just urge the people who get it, to go in just store some food, for their family.

And -- and create a network, if you will, of people who think like you. And really understand what's coming. And just help each other. Just help each other.

STU: So how real do you think the food shortage thing is?

GLENN: I think food shortage in places like India and Africa, I think millions are going to die. Millions will die. Probably worse than anything we've ever seen.

STU: Oh, my God.

GLENN: If -- if they come up with a solution today, and crops get into the ground, maybe not.

But -- but it will still be a problem, because we're not getting fertilizer. So it will be a situation where maybe we as a -- as the top market in the world, be are able to acquire this stuff, but at way higher prices.

GLENN: Way higher prices.

STU: Down the line, the -- the poorer countries aren't even able to acquire it at all.

GLENN: Yeah. Or very, very little. It will be Ethiopia, on a grand scale. Do you remember what Ethiopia was like?

STU: Oh, yeah. I remember all the commercials. And we had the, We Are the World song out of that. That was not worth it. I don't know if it solved it. If it did, still -- no offense, to the African people, but I think they would oppose the song over being saved.

GLENN: I don't think so. It might be a little --

STU: They would rather starve to death. Look, I may be speaking for an entire continent here. But I think if they can go back to the '80s and they said, look, would we have generations of our people be alive, or that stupid song play again, they would -- they would choose, they would choose to delete the song, and sadly, have -- deal with the repercussions of that.

GLENN: Well, we don't have Michael Jackson around, to make a song this time.

STU: That's right. We're screwed.

GLENN: It is going to be bad. It is going to be bad everywhere.

And forget everything else. Just know that a 25 percent of fertilizer comes from Russia.

STU: Just the 25 percent.

GLENN: But just 25 percent.

STU: So what do you do here? I think it's easy for us to say, we've done everything wrong. It's easy. But look at the effects of what we've talked about with inflation. The things you're talking about. Thirty and 40 percent increases are nothing compared to, if we internalize all the production in the United States. If we got rid of all this global trade, our prices would go up way more than 30 to 40 percent. Your TVs are no longer $400 for a 60-inch. I'll tell you that much. All this stuff goes away, without all the global trade. And all the things associated with it. The theory going back, as -- as globalization, not in the nefarious, you know, UN running our lives sort of way. But in the, hey, we're going to trade with countries because we can turn up production. And certain countries will do certain things well. Others will do others. We'll all combine our efforts, and this is why you have Walmart and prices are really low there.

So that goes in, and one of the theories was, as we saw new countries get into that system, those countries tended to moderate. They wanted to be involved in the global trade, so they didn't act like psychopaths all the time. So our theory was, if we embrace countries like Russia, and like China, they will over time, be so interested in these markets, that they will stop acting like psychopaths. Now, I think we've seen that with those two countries, that has not worked out that well. However, you've seen it in other areas. Japan is a good example of it working out pretty well. So what do you do?

Do you wait longer to bring them in?

Because it seemed like, you bring them in as an incentive to let them change. And instead of letting them change first, and then allowing them in.

GLENN: Right. So I think this is the key. Out of 170 countries, 95 do not have on their books -- ninety-five countries do not have on their books, illegal slave trade. They have not made slave trade illegal.

STU: Really?

GLENN: Ninety-five.

STU: That's a mind-boggling stat. Ninety-five countries.

GLENN: Ninety-five countries have not passed anti-slavery.

Now, there's a lot of countries, probably in that number. I don't know all the countries. But I'm sure there's some that don't have a problem with the slave trade.

STU: Of course.

GLENN: However, we should set our limits. And this has been common sense for a very, very, very long time.

If your government doesn't have the same kind of understanding about human rights, we shouldn't be doing trade with you.

STU: Just at a basic level, right? You don't have to match all of our policies, but you got to respect human life.

GLENN: Men are born to be free, okay?

Okay. If you enslave people or build concentration camps or have gulags or whatever, no. I don't think we should do business with you.

And that's why we're enslaved to these very, very low prices. It's not that we're getting -- some of this stuff we are.

It's not that we're hiring people at very low cost and then putting them in slavery. We're getting stuff, some places at a very low cost, because the cost of living is so low. So they're making a decent wage in their country.

STU: For their area.

GLENN: Yeah. For their area.

STU: When a lot of these factories open, the line is around -- it's a mile long to get jobs at this place. Because it's the best job available to that community.

GLENN: Correct. Correct. However, that's not the case in China. Now, there might be people lining up around the block in China to have a job here, but they also enslave people. So no. If your country is so diametrically opposed to our system, no. That would include Saudi Arabia. That would include Iran.

That would include Russia. China. North Korea. All of these countries, that just don't see the world and people the same way.

STU: And I think too, this points to another one of the undersold failures of the Biden administration. That people are not talking about.

Which is, when Donald Trump was president of the United States, our relationship with India was never better. They loved Donald Trump there.

GLENN: Yeah.

STU: Now they've decided to side with Russia.

GLENN: And China.

STU: And China. And our option, right? If we were to lose China, as a manufacturing hub. Our easiest replacement is going to India. Where it's a little more expensive. But not a lot more expensive. And if they're a close ally. There's some synergy there. We can still probably make products at reasonable prices. And help someone -- they always call it, the global democracy. The largest global democracy. India is the biggest country that has some of the trappings of what we would respect as a government.

And we seem to be losing that right now. And that's -- and that's a big deal.

GLENN: We're going to lose them. We're going to lose Taiwan. We're going to lose possibly the Philippines. We will lose Vietnam. All of those countries, that provide low-cost labor. We'll lose all of those, if we continue down the path we're on. That will leave us with just half the world. Huh.

Almost like what The Great Reset is calling for.

STU: Uh-huh.

GLENN: They will offer the solution of the end of globalization. You'll hear that. This is the end of globalization. We've got to do things. We've got to do things closer to home. And so it will appear to be the end of globalization. But it will not be the end of globalization.

It will be what you interpret as more global controls. But we'll make stuff closer to home. And not with China or Russia.

Uh-huh. Really? Because we're currently doing a deal with Iran. Just saying.

STU: It's going to work out well.

GLENN: This is the nightmare that's coming.

TV

The Globalist Elites' Dystopian Plan for YOUR Future | Glenn Beck Chalkboard Breakdown

There are competing visions for the future of America which are currently in totally different directions. If the globalist elites have their way, the United States will slide into a mass surveillance technocracy where freedoms are eroded and control is fully centralized. Glenn Beck heads to the chalkboard to break down exactly what their goal is and why we need to hold the line against these ominous forces.

Watch the FULL Episode HERE: Dark Future: Uncovering the Great Reset’s TERRIFYING Next Phase

RADIO

Barack & Michelle tried to END divorce rumors. It DIDN'T go well

Former president Barack Obama recently joined his wife Michelle Obama and her brother on their podcast to finally put the divorce rumors to rest … but it didn’t exactly work. Glenn Beck and Pat Gray review the awkward footage, including a kiss that could compete for “most awkward TV kiss in history.”

Transcript

Below is a rush transcript that may contain errors

GLENN: Now, let me -- let me take you to some place. I think kind of entertaining.

Michelle Obama has a podcast. Who knew?

She does it with her brother. Who knew? It's -- you know, I mean, it's so -- it's a podcast with two brothers. Right?

And -- and it -- they wanted to address the rumors, that they're getting a divorce. And this thing seems so staged.

I want you to -- listen to this awkward exchange on the podcast.

Cut one please.

VOICE: Wait, you guys like each other.

MICHELLE: Oh, yeah. The rumor mill. It's my husband, y'all! Now, don't start.

OBAMA: It's good to be back. It was touch-and-go for a while.

VOICE: It's so nice to have you both in the same room today.

OBAMA: I know. I know.

MICHELLE: I know, because when we aren't, folks things we're divorced. There hasn't been one moment in our marriage, where I thought about quitting my man.

And we've had some really hard times. We've had a lot of fun times. A lot of adventures. And I have become a better person because of the man I'm married to.

VOICE: Okay. Don't make me cry.

PAT: Aw.

GLENN: I believed her. Now, this is just so hokey.

VOICE: And welcome to IMO.

MICHELLE: Get you all teared up. See, but this is why I can't -- see, you can take the hard stuff, but when I start talking about the sweet stuff, you're like, stop. No, I can't do it.

VOICE: I love it. I'm enjoying it.

MICHELLE: But thank you, honey, for being on our show. Thank you for making the time. We had a great --

VOICE: Of course, I've been listening.

PAT: What? No!

GLENN: They're not doing good. They're not doing good.

Okay. And then there was this at the beginning. And some people say, this was very awkward. Some people say, no. It was very nice.

When he walks in the room, he gives her a hug and a kiss. Watch.

Gives her a little peck on the cheek.

PAT: Uh-huh. Uh-huh.

GLENN: Does that --

PAT: Does that look like they're totally into each other?

GLENN: Well, I give my wife a peck on the cheek, if she walks into a room.

PAT: Do you? If you haven't seen her in months and it seems like they haven't, would you kiss her on the cheek? Probably not.

GLENN: No, that's a little different. That would be a little different. But I wouldn't make our first seeing of each other on television.

PAT: Yeah, right, that's true. That's true.

GLENN: But, you know, in listening to the staff talk about this. And they were like, it was a really uncomfortable -- okay.

Well, maybe.

PAT: I think it was a little uncomfortable.

GLENN: It was a little uncomfortable.

It's still, maybe. Maybe.

But I don't think that rivals -- and I can't decide which is the worst, most uncomfortable kiss.

Let me roll you back into the time machine, to Michael Jackson and Lisa Marie Presley. Do you remember this kiss?
(applauding)

GLENN: He turns away, immediately away from the camera. Because he's like.

PAT: He was about to vomit. Yeah.

GLENN: It was so awkward. When that happened, all of us went, oh, my gosh. He has only kissed little boys. What are we doing? What is happening?

He doesn't like women, what is happening?

And then there's the other one that sticks out in my mind of -- and I'm not sure which is worse. The Lisa Marie or the Tipper in Al Gore.

VOICE: The kiss. The famous exchange during the 2000 democratic convention was to some lovely, to others icky.
(laughter)

GLENN: That's an ABC reporter. To some lovely, others icky.

And it really was. And it was -- I believe his global warming stuff more than that kiss.
(laughter)
And you know where I stand on global warming.

That was the most awkward kiss I think ever on television!

PAT: Yeah. It was pretty bad. Pretty bad.

GLENN: Yeah. Yeah.

So when people who are, you know -- these youngsters.

These days. They look at Barack and Michelle. They're like, that was an awkward kiss.

Don't even start with me.

We knew when we were kids, what awkward kisses were like.

PAT: The other awkward thing about that.

She claims, there was not been one moment in their marriage.

Where she's considered reeving him.

GLENN: Yeah.

PAT: She just said a while ago. A month or a year ago, she hated his guts for ten years. She hated it.

GLENN: Yeah. But that doesn't mean you'll give up.

PAT: I guess not. I guess not. Maybe you enjoy being miserable.

I don't know.

GLENN: No. I have to tell you the truth.

My grandmother when I got a divorce, just busted me up forever. I call her up, and I said, on my first marriage.

Grandma, we're getting a divorce.

And my sweet little 80-year-old grandmother, who never said a bad thing in her life said, excuse me?

And I said, what?

We're getting a divorce.

And she said, how dare you.

I said, what's happening. And she said, I really thought you would be the one that would understand. Out of everybody in this family, I thought you would understand.

And I said, what?

And she said, this just -- this just crushed me when she said it.

Do you think your grandfather and I liked each other all these years? I was like, well, yeah.

PAT: Wow.

GLENN: Kind of. And she said, we loved each other. But we didn't always like each other. And there were times that we were so mad at each other.

PAT: Yeah. Yeah. Uh-huh.

STU: But we knew one thing: Marriage lasts until death!

PAT: Did she know your first wife?

GLENN: Okay. All right. That's just not necessary.

RADIO

No, Trump’s tariffs ARE NOT causing inflation

The media is insisting that President Trump's tariffs caused a rise in inflation for June. But Our Republic president Justin Haskins joins Glenn to debunk this theory and present another for where inflation is really coming from.

Transcript

Below is a rush transcript that may contain errors

GLENN: Justin Haskins is here. He is the president of Our Republic. And the editor-in-chief of stoppingsocialism.com.

He is also the coauthor with me at the Great Reset, Dark Future, and Propaganda War.

So, in other words, I'm saying, he doesn't have a lot of credibility. But he is here to report -- I don't even think you're -- you're -- you were wrong on this, too, with the tariffs. Right?

JUSTIN: Well, at some point, I was wrong about everything.

GLENN: Yeah, right. We are all on the road to being right.

But this is coming as a shock. You called yesterday, and you said, Glenn, I think the tariff thing -- I think the president might be right.

And this is something I told him, if I'm wrong. I will admit that I'm wrong.

But I don't think I'm wrong.

Because this goes against everything the economists have said, forever.

That tariffs don't work.

They increase inflation.

It's going to cost us more.

All of these things. You have been study this now for a while, to come up with the right answer, no matter where it fell.

Tell me what's going on.

JUSTIN: Okay. So the most recent inflation data that came out from the government, shows that in June, prices went up 2.7 percent. In May, they went up 2.4 percent. That's compared to a year prior. And most people are saying, well, this is proof that the tariffs are causing inflation.

GLENN: Wait. That inflation is -- the target is -- the target is two -- I'm sorry.

We're not. I mean, when I was saying, it was going to cause inflation. I thought we could be up to 5 percent.

But, anyway, go ahead.

JUSTIN: So the really incredible thing though. The more you look at the numbers. The more obvious it is, that this does not prove inflation at all.

For starters, these numbers are lower, than what the numbers were in December and January.

Before Trump was president. And before we had any talk of tariffs at all.

So that is a big red flag right at the very beginning. When you dive even deeper into the numbers, what you see is there's all kinds of parts of the Consumer Price Index that tracks specific industries, or kinds of goods and services. That should be showing inflation, if inflation is being caused by tariffs, but isn't.

So, for example, clothing and apparel. Ninety-seven percent, basically.

About 97 percent according to one report, of clothing and apparel comes overseas, imported into the United States.

GLENN: Correct.

JUSTIN: So prices for apparel and clothing should be going up. And they're not going up, according to the data, they're actually going down, compared to what they were a year ago. Same thing is true with new vehicles.

Obviously, there were huge tariffs put on foreign vehicles, not on domestic vehicles. So it's a little bit more mixed.

But new vehicle price are his staying basically flat. They haven't gone up at all. Even though, there's a 25 percent tariff on imported cars and car parts. And then we just look at the overall import prices. You just -- sort of the index. Which the government tracks.

What we're seeing is that prices are basically staying the same, from what they were a year ago.

There's very, very little movement overall.

GLENN: Okay. So wait. Wait. Wait. Wait.

Wait.

Let me just -- let me just make something career.

Somebody is eating the tariffs. And it appears to be the companies that are making these things. Which is what Donald Trump said. And then, the -- you know, the economist always saying, well, they're just going to pass this on in the price.

Well, they have to. They have to get this money some place.

So where are they?

Is it possible they're just doing this right now, to get past. Because they know if they jack up their price, you know, they won't be able to sell anything. What is happening?

How is this money, being coughed up by the companies, and not passed on to the consumer.

JUSTIN: Yeah, it could be happening. I think the most likely scenario, is that they are passing it along to consumers. They're just not passing it along to American consumers.

In other words, they're raising prices elsewhere. To try to protect the competitiveness with the American market. Because the American market is the most important consumer market in the world.

And they probably don't want to piss off Donald Trump either, in jacking up prices. And then potentially having tariffs go up even more, as a punishment for doing that.

Because that's a real option.

And so I think that's what's happening right now.

Now, it's possible, that we are going to see a huge increase in inflation. In six months!

That's entirely possible.

We don't know what's going to happen. But as of right now, all the data is suggesting that recent inflation is not coming from consumer goods being imported, or anything like that.

That's not where the inflation is coming.

Instead, it's coming from housing.

That's part of the CPI at that time.

Housing is the cause of inflation right now.

GLENN: Wait. Wait. It's not housing, is it?

Because the things to make houses is not going through the roof. Pardon the pun. Right?

It's not building.

JUSTIN: No. No. The way the CPI calculates housing is really stupid. They look basically primarily at rent. That's the primary way, they determine housing prices.

GLENN: Okay.

JUSTIN: That so on they're not talking about housing costs to build a new house.

Or housing prices to buy a new house.

They are talking about rent.

And then they try to use rent data, as a way of calculating how much you would have to pay if you owned a house, but you had to rent the same kind of house.

And that's how they come up with this category.

GLENN: Can I ask you a question: Is everybody in Washington, are they all retarded?
(laughter)
Because I don't. What the hell. Who is coming up with that formula?

JUSTIN: Look. I mean, sort of underlying this whole conversation, as you -- as you and I know, Glenn.

And Pat too. The CPI is a joke to begin with.

GLENN: Right.

JUSTIN: So there's all kinds of problems with this system, to begin with.

I mean, come on!

GLENN: Okay. So because I promised the president, if I was wrong, and I had the data that I was wrong, I would tell him.

Do I have to -- out of all the days to do this.

Do I have to call him today, to do that?

Are we still -- are we still looking at this, going, well, maybe?

JUSTIN: I think there's -- I think there is a really solid argument that you don't need to make the phone call.

GLENN: Oh, thank God. Today is not the day to call Donald Trump. Today is not the day.

Yeah. All right.

JUSTIN: And the reason why is, we need -- we probably do need more data over a longer period of time, to see if corporations are doing something.

In order to try to push these cuts off into the future, for some reason. Maybe in the hopes that the tariffs go down. Or maybe -- you know, it's all sorts of ways, they could play with it, to try to avoid paying those costs today.

It's possible, that's what's going on.

But as of right now, that's not at all, what is happening. As far as I can tell from the data.

GLENN: But isn't the other side of this, because everybody else said, oh. It's not going to pay for anything.

Didn't we last month have the first surplus since, I don't know. Abraham Lincoln.

JUSTIN: Yes. Yes. We did. I don't know how long that surplus will last us.

GLENN: Yeah. But we had one month.

I don't think I've ever heard that before in my lifetime. Hey, United States had a surplus.

JUSTIN: I looked it up.

I think it was like 20 something years ago, was the last time that happened. If I remembered right.

It was 20 something years ago.

So this is incredible, really.

And if it works.

You and I talked about this before.

I actually think there is an argument to be made. That this whole strategy could work, if American manufacturers can dramatically bring down their costs. To produce goods and services.

So that they can be competitive.

And I think that advancements in artificial intelligence. In automation. Is going to open up the door to that being a reality.

And if you listen to the Trump administration talk. People like Howard Lutnick, Secretary of Commerce. They have said, this is the plan.

The plan is, go all in on artificial intelligence.

Automation. That's going to make us competitive with manufacturers overseas. China is already doing that.

They're already automating their factories. They lead the world in automation.

GLENN: Yeah, but they can take half their population, put them up in a plane, and then crash it into the side of the mountain.

They don't care.

What happens to the people that now don't have a job here? How do they afford the clothes that are now much, much cheaper?

JUSTIN: Well, I think the answer to that is, there's going to be significantly more wealth. Trillions of dollars that we send overseas, every year, now in the American economy. And that's going to go into other things. It's not as though -- when this technology comes along, it is not as though people lose their jobs, and that's it. People sit on their couch forever.

The real danger here is not that new markets will not arrive in that situation. And jobs with it. The problem is: I think there's a real opportunity here. And I think this is going to be the fight of the next election, potentially. Presidential election. And going forward.

Next, ten, 20 years. This is going to be a huge issue. Democrats are going to have the opportunity, when the AI revolution goes into full force. They will have the opportunity like they've never had before.

To say, you know what, we'll take care of you. Don't worry about it.

We're just going to take all of the corporate money and all of the rich people's money.

And we will print trillions of dollars more. And you can sit on your couch forever. And we will just pay you. Because this whole system is rigged, and it's unfair, and you don't have a job anymore because of AI. And there's nothing you can do. You can't compete with AI. AI is smarter than you.

You have no hope.

I think that's coming, and it is going to be really hard for free market people to fight back against that.

GLENN: Yes.

Well, I tend to agree with you.

Because the -- you know, I thought about this.

I war gamed this, probably in 2006.

I'm thinking, okay.

If -- if the tech is going to grow and grow and grow. And they will start being -- they will be responsible for taking the jobs.

They won't be real on popular.

So they will need some people that will allow them to stay in business, and to protect them.

So they're going to need to be in with the politicians.

And if the politicians are overseeing the -- the decrease of jobs, they're going to need the -- the PR arm of things like social media. And what it can be done.

What can be done now.

I was thinking, at the time. Google can do.

But they need each other.

They must have one another. And unless we have a stronger foundation, and a very clear direction, and I will tell you. The president disagrees with me on this.

I said, he's going to be remembered as the transformational AI president.

And he said, I think you're wrong on that.

And I don't think I am.

This -- this -- this time period is going to be remembered for transformation.

And he is transforming the world. But the one that will make the lasting difference will be power and AI.

Agree with that or disagree?

JUSTIN: 1,000 percent. 1,000 percent. This is by far the most important thing that is happening in his administration in the long run. You're projecting out ten, 20, 30 years ago years.

They will be talking about this moment in history, a thousand years from now. Like, that will -- and they will -- and if America becomes the epicenter of this new technology, they will be talking about it, a thousand years from now, about how Americans were the ones that really developed this.

That they're the ones that promoted it, that they're the ones that does took advantage of it.
That's why this AI race with China is so important that we win it.

It's one of the reasons why. And I do think it's a defining moment for his presidency. Of course, the problem with all of this is AI could kill us all. You have to weigh that in.

GLENN: Yeah. Right. Right.

Well, we hope you're wrong on that one.

And I'm wrong on it as well. Justin, thank you so much.

Thank you for giving me the out, where I don't have to call him today. But I might have to call him soon. Thanks, Justin. I appreciate it.

TV

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

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