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RADIOJune 16, 2022

WATCH: Biden reveals his TRUE belief on our FAILING economy

Joe Biden and his administration are ‘changing lives,’ he told the world on Tuesday. ‘I don't want to hear any more of these lies about reckless spending,’ the president said in a speech to America’s largest federation of unions, AFL-CIO. ‘We're changing people's lives!’ Glenn says this comment may have been an HONEST moment from Joe in which he shared his TRUE belief on our current, failing economy: that the pain felt by Americans now IS worth the clean energy future Biden and his powerful colleagues dream of…

Transcript

Below is a rush transcript that may contain errors

GLENN: Here's Hunter Biden in a piece that maybe tomorrow, Stu, we'll play in its entirety. It's like five minutes. And it's remarkable. He taped this conversation, on his laptop. He's having a conversation with another artist, who is helping him with his art. And he talks about his father. Listen to this. Cut two.

VOICE: He'll talk about anything that I want him to that he believes in. If I say, it's important to me, then he will look away, and wish to make it a part of his platform. My dad respects me more than he respects anyone in the world. And I know that to be certain.

STU: Hmm.

GLENN: He goes on to talk about how I call my dad all the time. And we talk about policies. And he's going to talk about this. And he'll push whatever I want him to push.

It's an extraordinary piece of audio, especially when dad said, I don't know anything about anything. We don't talk about anything like that. He's making it very clear, on this. Joe Biden knows and talks about all of it. But Joe Biden is kind of an interesting cat. Because I don't know if he's deliberately ignorant. If he is completely senile. If they won't let him watch television. I'm not sure.

If you look at the economy right now, and how people are feeling, this man is more out of touch, I think than really anybody since the czar Nicholas. I mean, he was out of touch with the people. I think Joe Biden is approaching this. Listen to how he -- he talks about our economy, and how people are feeling right now. This is cut six.

VOICE: Consumer confidence at the lowest in 70 years. Lower than the great recession. Lower than the stock market crash of the '80s. Lower than after 9/11. What can the White House do? Or will it do, to instill confidence in the American people, and the American economy is this.

VOICE: Well, it's important to first level to where we actually are economically. And we are in a transition. We are moving out of what has been the strongest economic recovery in modern American history. To what can be a more stable period of growth. Where we don't have to sacrifice all of those economic gains. And the key I think here is we face real challenges. And prices being first among them. But we also have real economic strengths. The strength of our labor market. The strength of household balance sheets, where notwithstanding, people are reporting low -- low confidence. They are also reporting record highs. In terms of financial stability.

GLENN: Stop for a second. Stu, do you know anyone who is feeling financially stable right now. Do you know anybody who is like, you know what, when is it bad. But I've got so much money stacked away in the bank, that I'm not worried about it.

STU: Yeah. Even people who are well off, I find. As you know, Glenn. We constantly gather in country clubs. And have cocktail parties with elitists, because we're conservatives. And when we do that, even --

GLENN: Oh, sure.

STU: Even those people, even people who are well off, and have a decent amount of resources. They have no idea how to protect them. Where do you put the stuff? You mentioned gold earlier, which has held up pretty well, as compared to pretty much everything else over this period.

But you, you know, you're in crypto, you're down. You're in tech stocks, you're down. You're in the S&P 500, you're down.

You know, you're in cash, you're definitely down. Because inflation is wiping you out, slowly, even though you don't realize it. And all of this, like adds up. You know, they keep saying this, that people have a higher amount of money in their savings accounts. And it's just like, it's completely ridiculous measure. They gave a bunch of free money to people. And told them, they can't go anywhere. So, yeah. A lot of people wound up over the covid period. Saving some money. Because they were terrified of what was coming next. And that money is just slowly dwindling away. And over time, it will go away completely.

GLENN: Right. If it is kept in a bank. But I'm not sure it's being kept in the bank anymore. I think a lot of people have just blown through that. Not blown through it. But how many weeks can you fill your car, once or twice a week, at $120 a tank? How many weeks can the average person do that? I don't know. I don't know. But I don't think very long.

Biden goes on to say, this was when he was at the AFL. CIO. That problems are bad. But not like everywhere else.

BIDEN: With my plan for the economy, we made extraordinary progress. And put America in a position to tackle worldwide problems, worse everywhere but here.

GLENN: Uh-huh. Uh-huh. And then he says, inflation is not because of reckless spending. Cut eight.

BIDEN: I don't want to hear anymore of these lies about reckless spending. We're changing people's lives.

(laughter)

GLENN: Okay.

STU: What? Is that why --

GLENN: You see what he's saying here? I don't know. Because he's an old man, and he's angry. You see what he just did. He says, I don't want to hear about this reckless spending anymore. It's all lies. We're changing people's lives. So what he's saying, as I interpret it. I hate to interpret it, because he may have no idea what he's talking about. If you want to look at that logically. What he's saying is it's not the record spending that's causing all these problems. That's a lie. We are changing people's lives. Meaning, we are getting off of all of the fossil fuels. We're changing the way the economy even is run. We're leaving capitalism, and going into The Great Reset. All of these things have to be done. And it's going to be painful. And we're going to be saving people's lives because of this. I think that's a moment of real honesty, where he's telling the American people. Because he's done it before. This is going to be hard. But at the end of it, we're going to be better off, because we won't object fossil fuels.

STU: Yeah. And I think it's important to look at, what could have been here. When we were going through covid. I remember, Glenn, having a conversation with you. Saying, this is interesting. In that, we're seeing a real test of what conservatives believe about spending. We've talked about this for so many years. And spending has always been bad. But there's always been a problem. But our case was, if you start to go crazy, there's a breaking point. And there was the competing ideology of modern monetary theory. And we said during the time. Like, look, we're just experimenting with this. We're going for it. We're going to print $4 trillion. $5 trillion. We'll have all this money coming from the fed. And if there's not an affect from this. I don't know. Does that prove our thesis wrong all this time? And here we go. They do this. They now print another. Then Biden comes in. They pass another multi-trillion-dollar bill. And we're seeing that the entire time the conservative position on this was correct. Look at inflation and what's happening right now. It's destroying families.

GLENN: Yep.

STU: And I think it's important to remember, that the Democrats wanted and almost got, another $6 trillion of spending. In that -- three and six.

GLENN: Which let me tell you. I want to end the program with a piece of audio on that very subject. We'll do that in just a minute.

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.

BEHIND THE SCENES

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

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

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

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