RADIOJune 16, 2022

The RISKIEST stage of economic grief may be coming NEXT

Many Americans are experiencing the 5 stages of grief — but grief in regards to the economy. Carol Roth, a ‘recovering’ investment banker and author of ‘The War On Small Business,’ tells Glenn she’s currently experiencing stage two: ANGER. Why? Because this kind of economic downtown America is experiencing today could have been AVOIDED if our leaders in power had a better grasp on reality, she explains. But, Glenn warns, the next stage may be the most dangerous one: Bargaining with the elite who hold the keys to our economic kingdom just so we don’t lose it ALL…

Transcript

Below is a rush transcript that may contain errors

GLENN: So this evening, I am going to be your congenial guest speaker, at the -- the cash county Flag Day ceremony. And I don't have a lot to say about the flag. But I've got a lot to say. So I'll be there. I don't even know if tickets cost anything. But I'll be there. And you can just throw money at the stage. You can just -- anyway, hope to see you there, if you're in the area. Carol Roth is joining us. She's the author of the war on small business. A recovering investment banker. And a friend. She is really great. I've been looking for Carol for probably 20 years, trying to find somebody, that can actually understand the bullcrap in New York on the -- on Wall Street. But also, can relate to the average person that has very little money. Hello, Carol. How are you?

CAROL: I'm doing well, Glenn. And I know you're wondering what my preferred title is. And these days I am identifying as Baroness Roth. So baroness.

GLENN: Baroness. Baroness Roth. Is -- is -- good. Good. So there's a couple of things going on. First of all -- (talking over) -- yeah. I think so.

There's something that I think is quite amazing. The stock market was down another 600 points yesterday. We're now officially in a bear market. Which, hey, I love bears. You know, who likes bulls? Nobody. Bulls are mean. And we have a bear on the flag in one of our states. But we're in a bear market. Wholesale prices rose 10.8. That may be a record high. And the fed is going to boost interest rates. Another great thing. Gas is up to all-time highs. And getting higher. I mean, it's really pretty good, right? It's good. It's good.

CAROL: Yeah. It's amazing. Yeah, I'm from Chicago. So we have the bears and the bulls, and I firmly bounce between them. But I am a Chicago bear right now. And I have to say, I'm super angry about all of this. You know, there were sort of these five stages of grief. Now there are the five stages of economic grief. The first one doesn't start with denial. It starts with I told you so. Because we could all see this coming. But the second one is still anger. And I'm so angry, because it's entirely avoidable. We gave over everything that we have. Our government. The decisions about our economy. To the people who believe in unicorns and rainbows. And everything that we know to be true, principles of economics. You know, they said, oh, no, no, no. We have this magical way of doing things. That's different. So we'll print money. But it's different. Because we're magic. We're going to give up our energy independence. And we're going to switch to this magic green stuff! And none of this is reality, and we are all paying the price figuratively and literally, after people would start to get their economic opportunities back on track. And it's super frustrating.

GLENN: I am -- I have to tell you -- I haven't been in denial for a long time. But I think you're looking at the five stages of grief. Denial is the first one. I think some people are in denial. But they're starting to come out. They're going to get angry. Then the next step is bargaining. Look, I just don't want to lose everything. And that's coming. It's coming. It is -- and it is -- it's one thing when people is hit by a bus. It's another, when somebody -- you know, your loved one, that you're grieving over, was -- was out in the open. Telling everyone, hey. I'm going to kill them. Nobody does anything. You're screaming bloody murder. And then they shoot them right in the head, in front of you. And that's what's happened in our economy.

CAROL: It is true. Think of somebody like Janet Yellen. Who is the second of the Treasury. One of the highest ranking officials in the United States. Has incredible control over what happens, vis-à-vis, money and finance in the United States. He was the former head of the Federal Reserve, making multi-trillion-dollar decisions about the economy. In between that time, she made $7.2 million, giving economic speeches. And then comes out and says, oh, I didn't realize that inflation was going to happen. Oh, I didn't realize that turning off the economy, and trying to turn it back on like you're power cycling was going to have effect on, you know, supply chains and labor markets and things like that.

Why are we giving people like this, the keys to the kingdom? Why is she getting paid millions of dollars, for something economically, that anybody off the street could have told you that? I literally want to pull my very large hair out right now.

GLENN: I will tell you, Carol, that I think what's scary. The scary thing, once people get past the anger. And they're into the bargaining. They're going to be bargaining with people like her. I just want to keep -- it's an absolute nightmare. I want to get to guess hear, for just a second. Before I get -- I do have to say. If you think Carol is a little angry, listen to her tweet. We are 100 percent in the position we are now. Because too many people believed you could suck the rainbow farts out of a unicorn's ass, instead of reality.

So, I mean, at least you're frank. So tell me now, we are looked at gas prices, that are out of control. They are completely denying that this has anything to do with ESG. And apparently, a story I read today, the administration was shocked, that we couldn't just turn shale on overnight.

CAROL: Shocked. Shocked that that there's gambling going on in this administration. Casablanca quote. This, again, super, super angry. So let's be realistic about this. We had record inflation, including rising gas prices in January. The 40-year high in January. That was before Putin and the Ukraine was coming on to the map. The other thing about Putin is, yes, that has exacerbated the situation. But if we had not passed ESG, if we had not had a push from the green lobby to move capital away from investment and fossil fuels, we were on a trajectory where we could have helped filled this gap for the world. We would have had economic security here. We would have national security here. We could have helped our friends out in Europe, instead of made them beholden to Russia. And the entire farce of this, is now we have this president who is going around -- and they're begging countries like Venezuela, both in the Middle East, who do not get fossil fuels out of the ground and process them in the same clean way that we have the ability to. So they have shifted the dirty fossil fuels to the other side of the globe. Which I'm pretty sure shares the same atmosphere as us. And saying, oh, look us, we're so green. Bring creating all these problems. They can pursue these green initiatives at the same time that they are pursuing, you know, our economic independence. We know more energy of all types. But instead, they said, no, no, no. We're just going to stop doing this. And, you know, vote on a wing and a prayer. And, again, that unicorn's behind. We're going to bring the rainbows out, and this is all going to be fantastic. It is not reality. We have to stop indulging these lunatics. And just say, sit down, child. This is not the way the world works. And we're just not going to indulge this anymore.

GLENN: I will tell you, the problem is: They believe in global equity. This is part of it. Bring America down to her knees. Bring her down to size, so we're all equitable. Which, we won't be all equitable. Because at some point, the American people will have enough and say, you know what, get the hell out of our way. We'll fix this. And the American people will fix it. It will be ugly, but they'll fix it. And then what happens? The rest of the world is starving to death.

CAROL: Yeah. These are. I've identified these sort of free global gray swans. The things where stuff could really go south, pretty quickly here. One of them is energy rationing, based on these decisions. We know we'll have rolling blackouts. And energy issues in the US. This summer. We know that Europe will have it. We just don't know how bad that's going to be. We know there's going to be some level of starvation. But it could be tens of hundreds of millions of people. Again, partially on the backs of these decisions. And the social unrest that comes out of those first two. Could lead to some sort of a mass scale war. And, again, this is entirely avoidable, if we did not let the lunatics run the asylum.

GLENN: Well, I don't think it's -- it was not just avoidable, it was clearly predictable. And I personally think the lunatics -- and I mean the lunatics that have power. I believe this was part of their goal. Let me read this to you. And I would like to have your opinion on when did all of this change? This is from Bloomberg today.

The U.S. government is quietly encouraging agricultural and shipping companies to buy and carry more Russian fertilizer according to people familiar with the efforts. As sanctioned fears have led to sharp drops in supply, fueling spiraling, business food costs. The EU, and the US has built exemptions into their restrictions on doing business with Russia, to allow trade in fertilizer of which Moscow is a key global supplier.

But many shippers, banks, and ensurers have been staying away from the trade. Out of fear that they could inadvertently, fall afoul of the rules from the U.S. government. Russian fertilizer exports are down 24 percent this year. U.S. officials were surprised by the extent of the caution against the seemingly paradoxal position of looking for ways to boost them.

So now we're going around our own things, to buy fertilizer. Meanwhile, Russia has been selling more oil. Making more money than ever before. The ruble is up. What happened when everybody was saying, we're crushing them. We're crushing them. We're crushing them. Seems like the only ones getting crushed is us.

CAROL: Yeah. This is the stunt queen administration. Everything is a PR stunt. And it's surface level, so it looks fantastic. And none of it means anything. You know, all these economic sanctions. Which, by the way, Putin is weaponizing the U.S. dollar. It's going to have major ramifications for us, you know, remaining the business reserve currency. That had an exemption for gas. Because we know that Europe is dependent because they and us decided that they were just going to move away, and not realize the repercussions. And what you said, Glenn, is not an exaggeration. There is documented reporting that Russia is on track to make more money from oil and gas this year, than ever before. So fantastic sanctions there. Now the same thing. They're doing it, like you said, quietly. They don't want anyone to know, that everything they're saying upfront. They're being tough against Russia. They're not being tough against anything. And Russia is playing a massively long game here. They knew it on the gas side. They're able to reap the rewards here. Now they're going to do it on the food side, you know, fertilizer side. Every side, to extract everything they can, while they get everything that they want. And we look like giant idiots. I mean, I could not look for a worse set of people to be in charge in terms of a crisis. Because they are making everything worse. And as you said, it's very possibly by design.

GLENN: Carol Roth. She is the author of a book that everybody should read. The war on small business. She has the latest piece out for TheBlaze.com. Debunked and explained. No greedy oil companies are not to blame for the gas prices. Something that you really have to send to all of your friends. It is time your friends wake up. Wake up. Because this is only going to get worse, unless you wake up. Carol, thank you so much. By the way, if you have any economic related question for Carol. Make sure you go to GlennBeck.com/contact. And submit any of the questions you might have for Carol. Carol, can you hold on? I have another question I want to ask you about bitcoin, if you can explain that, coming up in just a couple of seconds. Stand by.

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The SECRET every young man NEEDS to hear

The world has a plentiful, seemingly endless supply of angry boys. What it's lacking is real MEN. Glenn Beck shares the secret that our young men must learn if they truly want to protect and perfect our country.

Transcript

Below is a rush transcript that may contain errors

GLENN: There's a difference between a revival and an awakening. We are in a revival right now, but that doesn't necessarily lead to anything. Except, oh, I have to re-learn those principles. But that doesn't mean you apply them in your life. Okay?

That's an awakening. There's been two great awakenings in American history. One brought us the American Revolution. The second one brought us the Civil War and the freedom of slaves.

We have the possibility of going into a third great awakening. That's the only thing that will save us. If you don't know the difference between a revival and an awakening. Let me give you the negative print of a godly awakening. Our kids right now, they don't have any purpose. They don't have any meaning.

They look at everything, and it doesn't -- it's not real. None of it is real. It's money. It's fame.

It's -- you know, it's ever changing truths and definitions. And they have no purpose in their life. Okay?

So they're looking for that. Because man has to have purpose in his life. Man has to search for meaning.

So they're searching for meaning. And they found a group of people that actually mean something. And they're willing to die for it. And it's ISIS.

And so they're like, at least these people believe in something. They believe it. And they're willing to die for it. I'm going to stand with them. And they put that twisted understanding into action. That's the -- that is -- that's an awakening. It's just an awakening to the dark side. And that one is already happening. It has to happen on the good side. And let me speak directly to young men: Look, you are inheriting a very loud, angry, cynical and worst of all spiritually starving and malnourished society. And you are being sold a future of cheap pleasures and hollow heroes and screens with blue light that just rob you of your strength, one distracted second after another.

And in the middle of all that noise, may I just give you one piece of instruction. If there is anything virtuous, lovely, of good report or praise-worthy, seek those things.

Don't admire them. Don't nod at them. Seek them!

Hunt them. Chase them. Build your life around those things. A man who will do that. A boy. A young man who will do that, will become different. Noticeably different.

He will stop letting the culture feed him garbage. He stops applauding the trivial. He stops laughing at the obscene or cheering for the cruel.

He will become a curator of -- of real, lasting beauty in an age that has forgotten what beauty even looks like.

When other men are chasing down or holding up cynicism, this man holds up hope!

When everyone around him is chasing dopamine, he chooses discipline. When others will blame their circumstance, he'll take responsibility for his own action. When the world worships the shallow, he goes and searches for the deep!

You want to know what the secret of becoming strong is, or becoming trusted, or becoming the kind of man that your future wife, your future children, your future nation can depend on?

Here it is!

You become what you seek. If you seek trash, you become trash. If you seek virtue, you become a man of virtue. You seek excellence, and your life will begin to shine, not loudly, but steadily. Like the steel glow of a blade being forged.

That's who you'll be.

The world has a plentiful, seemingly never-ending supply of angry boys. We don't need any more addicted boys.

We don't need any more distracted boys. The world needs men. Whole men. Clear-eyed men.

Men whose souls are anchored to something higher than the algorithms, trying to own them!

Build a life worthy of admiration. Forget about the applause. Fill your mind with words that make you wiser. Fill your days with work, hard work, that makes you stronger. Fill your home with beauty that lifts every soul who walks into it.

Have your home a place where people walk in and go, man, I say so great here. I just love it here. I don't know what it is about your house. I just love it. It's the spirit that's there! Because you built it! You protect it.

Protect your integrity like a watchman on the wall. Don't lie. Don't cheat. Don't steal. And when you fail, and you will, stand back up again.

Because a man who seeks the virtuous, is not a man who never fails. He just -- he just becomes a man who refuses to stay on the ground.

If you seek things that are lovely and pure, trustworthy, praiseworthy, you'll become a kind of man this age almost never produces. A man whose very existence is a rebuke to the darkness.

That's your calling. That's why you were born.

Not to be lost. Not to play video games. Not to give up. Not to say, there's no hope. Not to end up in the trash bin of human history because you've -- you've taken so many drugs, you can't stand up straight anymore.

You're not destined to be alone.

You were destined for great things. You are destined to find an amazing woman!

Believe me. I didn't think I would ever find an amazing woman. Because I didn't think I was worth it. I didn't think I was worth it.

And until I started understanding how God works. That, yeah. I'm not worth any of the stuff that I have.

When you realize, it's all a gift. It's all a gift. And even if you work your brains out, you may not ever get all the things that you want. But you're going to have everything you need. Once you realize, carefully selecting friends makes a difference. My mother used to always say, show me your friends. I will show you your future.

It's true. Be careful who you select as friends. Watch your language. Watch what you're putting into your brain and what's coming out of your mouth. Because the brain is so amazing. It's being turned to mush. Did you know that there is a new study that just came out. I have to tell you about it next week, maybe.

New study going out. It is -- it's AI. And it has access to social media, and they have found that the AI -- the AI that is scrolling through social media all day, just to keep updated on everything that's going on in social media. It's getting brain mush. It's actually becoming dumber. It's become less effective!

It's a machine. What do you think this, flesh and blood, this thing is going to do?

We say life is meaningless. And life is the only thing that has any value. And yet, we spend all of our time, on things like social media. And that has absolutely no value.

But we think that's life.

I'm not that smart. I've just lived a long time. And I've made so many mistakes.

And I decided at one point, I'm going to stop saying, it's somebody else's fault. I'm going to start saying. Maybe -- what did I do to create that?

What did I do to attract that?

Why does this thing keep happening to me?

Why is it that I always find myself involved with these same kind of people?

Because, Glenn, dummy, it's you!

What you think, it's like -- it's like think of yourself as a -- as a beacon. It's just -- you're a beacon. Your GPS pin, that is constantly saying, here I am. Here I am. Here I am.

Except, it's transmitting more than just your location. It's -- it's transmitting what you're looking for, who you are. And it's attracting other dropped pins to you. It's saying, "I like this. I think this way. I believe these things. I am afraid of these things."

Whatever it is, you're thinking. It's constantly putting that out.

And saying, here I am. Is there anything else like that?

Anything else that can reinforce that? Anything else that can live like this?

Because that's me. Here I am. Here I am. Here I am.

That's why you keep finding yourself in exactly the same situations. Nothing will change, if nothing changes!

And the only thing that you can change, is you!

Seek the things, that have virtue.

Seek the things, that have beauty in music, in -- in art, in life, in architecture, in clothing! Whatever it is. Look for real, lasting beauty and value.

Find the things that are true! Truly true.

Universally true. Find the things that uplift. Seek those things!

And you will change your life and your world!