RADIO

What the Fed’s interest rate hike MEANS FOR YOU

In an effort to curb rising inflation, The Federal Reserve just announced an interest rate hike of 25 basis points (one-quarter of one percent). It’s the first time the Fed has raised such rates since 2018. So, what exactly does this mean and how could it affect YOU? Carol Roth, financial expert and author of ‘The War On Small Business,’ joins Glenn to break it all down…

You can read more of Carol's take on this issue here: https://www.theblaze.com/op-ed/roth-what-the-feder...

Transcript

Below is a rush transcript that may contain errors

GLENN: Hello, America.

Yesterday, the fed raised the -- the interest rates.

And they said, they're going to do it, I think six or seven times more this year. This could get dicey in many ways, for everyone.

And I want you to understand, what happened yesterday. And not in terms of, well, you know, us traders believe. I don't care. I don't watch CNBC. Because I only understand about half of it.

I want to know what this means to the average person. Carol Roth joins us. The author of the war on small business. She gets it. And can explain what it all means. In 60 seconds.

Carol, welcome to the -- welcome to the Glenn Beck Program.

CAROL: Hey, Glenn. Lots of things to talk about.

GLENN: Yeah. Boy, I have a long list for you too. So let's start with what happened yesterday, and why people should care.

CAROL: So I want to take a step back, and talk about, you know, why the fed did what it did. In terms of raising interest rates. What we call 25 basis points, or a quarter of a percent.

100 basis points is 1 percent.

GLENN: Okay.

CAROL: And basically, they were undoing the -- at least attempting to start to undo the effects of what they in part cost.

Their monetary policy, zero interest rate policy, printing trillions of dollars, the government spending trillions of dollars, in terms of fiscal stimulus. Turning parts of the economy off, and wrecking these labor markets supply chain.

All of those things are the reasons we have inflation today, exacerbated by decisions that the Biden administration made around oil and gas, dependents and what not.

So basically, we had inflation.

GLENN: Correct.

CAROL: Which we've all been talking about. As we go to the grocery store, and certainly the fuel pumps and whatnot.

And so finally, they said, we have to do something. Now, I'm going to tell you, this is a little bit of window dressing. Because they were doing accommodation. They were in the market, purchasing securities, last week.

So last week, they were being accommodative.

But this week, we have to maintain our credibility, and we need to do something. So they decided to raise what is called the fed funds rate. It's a rate, where banks lend to each other overnight. In terms of their reserves.

And that reverberates through the market. So they brought that down to a target, of zero to a quarter of a percent. And they had held it there for the last couple of years. And they said, okay. Well, you know, inflation is getting away, we better raise some interest rates. One of our tools in order to do that. And they took the huge step of a whole quarter of a point increase, to do it.

GLENN: Wow.

CAROL: Yeah. They're very -- because they need to be credible.

GLENN: Right. So the last time we had a problem of this size, it took an interest rate of about 19 to 20 percent, if I'm not mistaken.

Raising it a quarter is really -- is a joke.

Where do you think, these interest rates should be?

Not -- not considering killing the economy.

Just where it should be. Should it -- if we were in a healthy country, still, would it be 20 percent, or more?

CAROL: So there's a couple of things to unpack there.

First of all, this is an unprecedented situation. We don't have a benchmark, because we have never had central banks, not just in the U.S. but around the world, printing trillions upon trillions of dollars. This has just never happened before. We've never had governments turn off the economy.

You never have a situation, where there's 1.7 jobs available, for every job seeker, because of what the government did.

So we're flying a little bit blind. I've always been a fan of normalized interest rates. I think it's a horrible idea, to have the fed meddling, and trying to direct things.

I want the market to set it. And so before all of this nonsense started, before the financial crisis, the great recession, financial crisis in '07 and '08, which was really the first time we went totally off the rails, with the zero interest rate policy and the purchase of securities, the interest rates were around 5-plus percent. And that seems to be, you know, a healthy place, where things should be.

We should not be in a place, where we're saying, you know, when you take risks, you shouldn't be getting rewarded for it. You know, 0 percent interest.

It makes no sense. So in reality, you're still at very historically low interest rates. And in a healthy economy, to have three, four, 5 percent, would be completely acceptable. We just have been so addicted to this easy money and this free money for so long, I'm not sure how we get out of this.

GLENN: Okay. So there's a couple of problems with 5 percent interest rates, right now. One would be that people would not be able to afford a new house, et cetera, et cetera. Because of inflation, and everything else.

But the other, that nobody ever talks about, is that we now have a national debt over $30 trillion. And that is just like buying a house. You have an interest rate, on that.

If we have an interest rate of 5 percent, how much more money do we have to pay?

CAROL: Bingo, this is the dilemma that the fed has gotten themselves into, by keeping down interest rates. They've basically given the government a free pass to just spend and spend. And to rack up more and more debt.

And we're at a point, to where the debt is completely out of control.

And, you know, has competed our level of GDP.

So if you think about 30 trillion of debt. And obviously, the fed fund rates. And the interest rate on the debt is not a 1:1 correlation. But we know that as one moves up, the other moves up. So in terms of the interest on our national debt, I want everyone to pay very close attention because this is staggering. For every 1 percent increase, that is another $300 billion, that we have to pay in interest, on the national debt.

That is our tax dollars, that are going to pay more, for things, that we have already purchased.

It is not new purchases. It's literally, a finance charge.

Almost like a credit card interest rate, on stuff we have already bought.

And this is the dilemma, the fed has. Because they know, as they raise interest rates, this is going to get out of control. The CDO. Had made a projection, than saying, this is going to get out of control. But in their projection, they said, well, we think the yield on the ten-year treasury note, gets to about 2.1 percent in 2025.

So, you know, we're going to have to really be concerned, maybe in 2029, the yield on the ten-year Treasury note is at that 2.1 percent today. So multiple years ahead of time.

GLENN: Please talk down to me like I'm in kindergarten.

I don't understand the yield thing with the Treasury. How that works. How that's affected. So can you explain that?

VIVEK: Yeah. It's basically how much the government has to pay on debt.

So what the market demands

And obviously, if there's a lot of demand, for Treasury securities. The price of that goes up.

Then the yield, or the interest that you demand is lower.

Because there's a lot of demand. You have to pay a lot for your debts.

GLENN: But we had been at very, very, very low --

CAROL: Very low.

GLENN: Because the fed was buying up. There was no demand for our treasuries, which is our loan.

CAROL: So let me put it in context, what we're paying currently on our national debt, in terms of a combined interest rate, is somewhere in the neighborhood of projections of 1.4 percent to 1.6 percent. So they've been able to finance that at a very low rate. But that number is starting to creep up. And with the fed increasing interest rates, it will further creep up. And every 1 percent is $300 billion.

GLENN: So if we have an interest rate of five or -- five or six percent, we're talking like between two and three trillion dollars more, the entire budget.

CAROL: Yeah. Exactly.

It's just completely untenable, at that point in time.

So I would -- I would imagine other things happened, in the interim. But this is why, when we talk about things like MMT, Modern Monetary Theory, or what I call Magic Money Tree.

That says, well, you can just print into infinity, because we can just print more. Well, we're now living through that realtime experiment. As you said, no, you can't. It causes inflation.

It has real costs for the average American, and it decreases the value of every dollar that you hold.

GLENN: All right. So the best thing you can do is get out of credit cards. You should cut those up if you can.

CAROL: Yes.

GLENN: And pay them off if you can. Get a refi right now. Because you're probably paying about 16 percent for your credit cards, correct?

CAROL: Yeah. And it could be going up.

And anything that has that adjustable interest rate associated with, some people may have something called an arm and an adjustable rate mortgage. Where it adjusts over time. Maybe it's fixed for a certain number of years. Anything that is adjustable rate debt, is going to increase in price. And if you need financing -- let's say you have a business, and you haven't taken advantage of low rates yet. You're going to want to lock that in on a fixed basis now, because it's not going to get cheaper any time soon.

GLENN: Now, the other problem is, with raising interest rates. Let's say you have a business. And you need a loan.

If the interest rates starts to go up, that kills that business. They can't afford that loan. Just like we can't afford our national debt. Or you want to buy a house. Yesterday, mortgages. New mortgages fell immediately, just on the -- on the whisper, that it was coming.

We are seeing a slowdown in mortgages. Which means people will buy fewer houses. The scary thing about this, is you don't know where that switch is. You're just going to have to kind of guess. And it might shut everything down.

CAROL: That's the needle that the fed is trying to thread, in addition to dealing with the consequences of the national debt. What happens, is as they raise interest rates. You know, their intention is to slow down the economy. I mean, that's basically what it is. They want to slow down consumer demand.

GLENN: Right.

CAROL: But the question is: How do you do that, without creating a recession, or without creating reverberations for the economics of the average American?

GLENN: So can I be really, really cynical? I mean -- in fact, let me go beyond cynical. Let me go into, I'm a thriller writer. Okay? And I'm writing a thriller. And for some reason, this country needs to slow down the economy. But they can't slow down the economy, because then businesses will fail. But they don't really care about the average person. You know what I mean?

That's going to fail. We'll print more money. Put them on welfare. Tell they believe to stay home. Or whatever.

Wouldn't one way to slow the economy, for the consumer, but not slow the economy, for the big corporations, would a war do that?

CAROL: I think that would completely change the tenor of the economy. But I think that raising the interest rates does that, because kind of like we saw over the last couple of years, if you are a big corporation. You take advantage of that debt. You have that war chest. We've had that strong balance sheet. So in terms of the transfer of wealth, that is one way to do that. But the war, that would completely change the tenor of, you know, who benefits. And certainly, it would be the bigger guys versus the smaller guys. But it would be more defense, rather than the financial services industry, for example.

GLENN: Yeah. Okay. Carol, hang on. I have some more questions. And I would like you to explain a couple of other things, coming up in just a second. Give me 60 seconds. We're back with Carol Roth. The name of her book, is The War on Small Business. A must-read.

GLENN: All right. So I want to talk to you about the dollar being the world's reserve currency.

Because I'm watching these sanctions, that are being put on.

And I'm seeing things happen, to where, if I'm another country, especially Russia. I'm going to China, immediately, saying, I want to partner with you. Because they just made my money worthless. I can't get my money out of the central bank. The Federal Reserve. That's my money.

And they won't let me get to my money. If that starts to happen. And then Saudi Arabia starts to sell oil, off of the petrodollar, that's really bad news. And let's say, the West holds together. But half the world is off the petrodollar.

What does that mean for us, Carol?

CAROL: It potentially means the end of the U.S. dollar, as a reserve currency.

GLENN: Explain what that means. Because -- I mean, to the average person. Forget about, you know, the central banks and everything else. What does it mean to the average person? To have half the world get off our dollar?

CAROL: Yes. So this is why I love you, Glenn. Because we take the most complicated concepts in the world.

GLENN: I know.

CAROL: And trying to explain them, as if, you know, it's Elmo and Big Bird here --

GLENN: Right.

CAROL: The idea of being the reserve currency. Is something that's -- you know, has sort of a long history. And it means, particularly in the case of goods and services. But also in the case of oil, that everyone in the world, pretty much agreed to use dollars, for a settlement. And that puts some responsibility on the United States. There's something that is called the Triffin dilemma. And there was an economist back in the 1960s, who basically said, there's a conflict. If you are going to be the world reserve currency, you're going to have to make tough choices. And you're not always going to be able to do what's right, at home, in order to make sure you're doing what's right, in the national sphere.

GLENN: Everywhere. Yeah.

CAROL: And unfortunately, you know, this has been an issue, that's been going on for a long time.

But in recent times. As we've been talking about with the fed and the decisions they've made. They actually haven't done right by either party.

They've been screwing over the average American, with their policy. And transferring wealth. But they've been doing the same thing in the national sphere.

And, frankly, a lot of countries are getting sick of it.

And so there have been predictions for quite some time, that there was going to be an event -- an adviser actually to the OECD said that it's probably not an economic event. It's a geopolitical event, that's going to expose the system. You know, wink, wink, nudge, nudge. And so a lot of folks feel like the sanctions that were made against Russia, were potentially a cover story. That we know that we'll potentially lose this reserve currency status. So we're going to say, well, we did it, because we had to take a stand.

But the reality is, you know, as we've now shown the world, you can put your money, in our central bank. And you can buy Treasuries. And U.S. dollars.

But you might not be able to access them. Which is not a really good thing, if you're going to be the world's reserve currencies.

GLENN: Correct. Correct.

CAROL: So there's a couple of potential outcomes. And I know you've been talking about this, Glenn. But, you know, one thing that folks have been talking about.

Is does China potentially step into the reserve currency position?

There is an issue around them. Because usually, if you have the reserve currency, you run a trade deficit. And we know that China is a nation of exporters. Are they really going to step into that? I'm not sure.

The other thought is, listen, we've seen so many banks. Central banks around the world. Print so much money. There's all this debt. You can't really just say, we're going to cancel it all. Because there's counterparties. There are people on the other side of the debt. So what could you do to offset that?

GLENN: Hold on. Hold on. Elmo and Big Bird has to stop. Because Elmo says, there's only 20 more seconds left.

CAROL: Okay.

GLENN: So we will come back. Because I really want to hear this -- this other new plan, and canceling debt just opens up Pandora's box, at least in my head. We'll talk about that, coming up more. Carol Roth, coming up in in just a second. Stand by. That's right. Did you get the vaccines yet?

GLENN: We're with Carol Roth. She's the author of the -- of the book, The War on Small Business.

She's a former investment banker. Don't hold that against her. She calls herself a recovering investment banker. She worked on Wall Street for years and years. Then kind of went, oh, I might be on the wrong side here.

And is trying to do everything she can, to strengthen individual businesses. Small businesses all across the country. And I love her for it.

Carol, you were just saying, that one of the options, in this nightmare scenario, which I think is unfolding in front of us. Where the world reserve currency, is not going to be the dollar.

I don't know what it is. But they're going to change the dollar, from what it is. To a digital dollar.

And I don't know how it all shakes out. But probably not very well.

But you brought up, there is all this debt within that we just can't cancel, because there's other people on the other side of that debt. So explain what you think.

That can't happen, you say.

CAROL: Well, I mean, nothing is a never scenario. Right?

GLENN: Not anymore.

CAROL: In an unprecedented situation. And, you know, for people who are students of history, despite all of the wreckage that could come from this, it's a very interest pointing in time. Especially, financially, you had the U.S. dollar as the world reserve currency. You had then us going off the gold standard. Then you had us, you know -- with the petrodollar, basically saying, we will manage the dollar as good as gold for oil.

And then you had the fed, basically go completely rogue. And not do that.

And anybody who is holding reserves, that they're supposed to say, well, the U.S. dollar is safe. And it's a good store of value. We'll keep devaluing it. That's not a thing.

And so -- and, by the way, these are not my theories. I'm just communicating what is out there, from people who are far smarter than I -- everybody by writing up another asset. So is there a neutral asset, that central banks have access to, that's on their balance sheet, that maybe they have been buying, at really good prices, that all of a sudden everybody comes together, and says, well, we'll just write up the value of that?

It's like writing down the -- gold.

GLENN: Gold.

CAROL: So central banks have been buying tons of physical gold. By the way, billionaires have been buying a lot of physical gold as well. And I'm using the term physical, because it's different than the market that is traded.

GLENN: ETFs. Those are ridiculous.

CAROL: ETFs. That's done in dollars. So who is backing that?

But physical gold. So there is a theory going around, that potentially that standalone basis or a basket of neutral metals. Which was thrown out as an idea, early on. When it was pushed aside for the U.S. dollar. That maybe there is this -- meeting of the minds.

And, you know, this is the way that you make all of these other central banks. And countries full. Is you just write up the value of that gold.

So if you think that that's going to happen. And you think that the financial system is going to collapse, you know, then you want to be owning physical metals. And have a store of that.

GLENN: Because when you say, they're going to write off debt, you don't mean people's houses. You mean --

CAROL: No. This is government debt. They cannot write up government debt. Because when you take -- that's a loan, right? You owe the money back to somebody. So the other side of potentially doing some sort of. We'll have mass forgiveness.

Is that when you take something else that everybody else has. And you say, it's more valuable. Overnight. It's magic.

GLENN: That doesn't sound like --

STU: Bad magic trick.

GLENN: Yeah. It sounds like -- we're dealing with a lot of black magic.

Stu and I were talking about this story that came out of Britain. We hadn't heard anyone talk about this. Explain what happened.

STU: Yeah. Just a little background. It's in the London metal exchange.

And it's the price of nickel. Now, I know no one cares about the price of nickel. Just to give you the basis here.

GLENN: Tesla does.

STU: Yeah. That's true. If you're buying an electrical car, it's true. Basically, the last five years has bounced back and forth between 10,000 and 20,000 per metric ton. Okay?

It got up to a little bit above 20,000, in the last few weeks. Obviously, all this time going on with Russia. Russia, Ukraine. Big sources where it comes from, for all these electric batteries. It goes basically from 20,000 to 80,000, in basically a day.

Okay? So four times, in one day. So let me read this: This is from the Wall Street Journal.

GLENN: Listen to this. Have you read this, Carol?

CAROL: Oh, I know this story. I do know this story. So we can talk about this.

GLENN: Yeah, this is crazy. Listen to this, America. This is craziness.

STU: Yeah.

So traders on the London Metal Exchange smelled blood, and nickel prices almost doubled in a short period of time. A Chinese company faced a 1 billion-dollar margin call. That exchange officials felt they couldn't meet. Rather than let it fail, which would have probably taken down several of the smaller brokers that serviced them. The London metals exchange decided to cancel all of the day's trading. More than 9,000 trades, worth about $4 billion.

It canceled the trades. Not because of a fat finger error. Which exchanges often cancel. Not because of a rogue algorithm, as regulators claimed in the 2010 flash crash in U.S. stocks, but because someone with too much leverage was going to blow up, with effects on some members of the exchange.

This moral hazard is taken to an extreme. It's always been true, that if you face a 100-dollar margin call, it's your problem. While if you have a one billion dollar margin call, it's the broker's problem. And the authorities might save them. What is almost unprecedented here. Is the exchange authorities decided to save them, with money taken from other traders, who otherwise would be sitting on fat profits.

I mean, you won. You picked the right direction. You've got these huge profits. And they cancel your trade, to save someone else.

GLENN: And it's China.

STU: And it's China.

GLENN: I mean, there is no such thing as a free market with this.

CAROL: No. This is another too big to fail scenario. It happened to be -- I believe it was an individual billionaire, who had made a short set against nickel. So he went in the other direction.

GLENN: Wow. I mean, then you don't -- you don't put the money down on the table. If you don't know what the odds are, and you're not willing to lose your money.

That's like going to Vegas, and -- and placing a huge bet, and when you lose it, you're like, hey.

You know, Caesars. I mean, this is crazy. And Caesars says, oh, we're not going to count that bet.

That doesn't happen!

CAROL: It's horrendous. And it goes back to the integrity of the market. And so many that the retail investors have been rallying against. And it's just another example. And there are big name banks involved. The exchange was actually shut down for multiple days, I believe. Before it started trading again.

And the people who made a bet, and decided to participate in the market, ended up getting screwed out of their profits. But they're never going to get the leniency, if it happens to them on the other side.

GLENN: No.

CAROL: And just the overall integrity, like you said. This is not a free market. It's not a fair market.

And we have too many of these big guys, who are being saved, at the expense, sometimes literally, sometimes figuratively, of the small guys, over and over and over again.

GLENN: And that's what I think people are so sick of.

And when they see this next crash. Especially with Janet Yellen saying, it will be equitable. When we reassemble, it will be equitable. What the hell does that mean? Probably stuff like this. And when they see the rich getting richer. And I don't mean a person who runs a business and may have a million dollars.

I mean the rich.

The elite of the elite. The BlackRocks of the world.

The banks of the world.

I just -- when their debt is being bailed out and real Americans are paying huge money for their food and their gas. And then their home is taken, there's trouble. That's real trouble.


CAROL: Yeah. And unfortunately, that is the scenario. There's one thing to become wealthy, because you earned it in a fair playing field. That's something that we want to celebrate. But we do not want to celebrate, when the playing field is tilted. When somebody has their thumb on the scale. When we have this transfer of wealth from Main Street to Wall Street. Which has been going on for, you know -- in a very large part, for a decade and a half. But it has accelerated over the last year and a half. And, you know, we talk about all of this coming to fruition. And us losing reserve currency status. It's going to mean a slower economy for us. Because we are not in a position. We don't have the strong manufacturing face. Or a competitive pricing. To be able to export. So all these people are like, oh, that's great. We'll reshore the job. They're not thinking in context of the existing economic structure. It will be unfortunately, very painful. But just to have a moment of hope here, Glenn. Because this is really doom and gloom. Is you have to remember, in any time of pain, there's always opportunities. So it is incumbent upon you, to find where those opportunities are. And what --

GLENN: So average person is saying, what is that opportunity?

CAROL: Yeah. It's finding the things that have inelastic demand. Meaning, people will pay prices even when they're continuing to increase and making investments and those kinds of things. Or retooling your business. To be servicing those markets. It's those kinds of shifts, where you have to look for those hidden opportunities.

In what could be a completely new economic scenario for us, going forward.

GLENN: I -- I think what you just said, translates to what I just told my kids.

You get into the job market. You have to be the most effective, efficient, and hard-working employee. Even if you're not at the top of the food chain, you have to be the one that the boss says, oh, we can't.

Because he'll do everything. I mean, he's a little bit. I mean, he works like crazy. You have to be that person. Right?

CAROL: Absolutely. Absolutely. Invest in yourself. And make yourself indispensable to a customer or to somebody that you're working for.

It's a huge competitive differentiation that will only get more important.
GLENN: I would love to have you on, maybe early next week. I just had one of my producers put some stats together on inflation.
And what that actually means to people. I mean, when Biden got in, a hamburger. An average hamburger was $4.40.

Today, that average burger is 601. And if we look at what they say, things are going to be, you know, with -- with the -- what are they saying? 7.9 percent inflation.

That number is going to be $7 force a burger by the time of the next election. I don't think that stat is right. You want to compare apples to apples. Look at how they measured it back in the 1970s and '80s, when we hit it before. That would mean that that hamburger would go from $4.40, to almost $8 by the time we hit a presidential election.

I just want to talk to you about inflation. And how to beat that.

CAROL: Plenty to talk about, would love to.

GLENN: Thank you very much, girl. Appreciate it. Carol Roth. The name of the book is War on Small Business. Make sure you pick it up.

Jason Whitlock EXPOSES What Diddy, Hip-Hop, and — BLACKROCK?! — Have Done to America
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Jason Whitlock EXPOSES What Diddy, Hip-Hop, and — BLACKROCK?! — Have Done to America

Rapper Sean “Diddy” Combs is in a mess of trouble after federal authorities raided his properties as part of an investigation into sex and drug trafficking allegations. But BlazeTV’s Jason Whitlock was well ahead of the story. Jason joins Glenn to break it all down: Is Diddy the new Jeffrey Epstein? Why is all of this coming out now? Will there be a cover-up? Jason also explains why he believes this goes way deeper than just Diddy: “It's about the push for nihilism…and Hip-Hop is at the forefront of that.” Jason reveals the dark side of the Hip-Hop industry and the shady groups who he believes are calling the shots. But while the Hip-Hop industry has fallen, Jason discusses his upcoming effort to build society back up: the second annual Fearless Army Roll Call men’s summit, featuring country music star John Rich, an appearance from Glenn Beck, and really good food!

Transcript

Below is a rush transcript that may contain errors

GLENN: Jason Whitlock. Hello, Jason, how are you?

JASON: Glenn, awesome introduction. I appreciate that, thank you.

GLENN: You bet. And I want to talk to you about some of the things that you're going through right now. And things that you're discovering. And things you're doing this summer. I want to be joining you on one of your events, that I think is just so worthwhile.

But first, can I take you to the news, that I have not been following. And I don't know if this is important or not. P. Diddy. I don't know what the hell is going on with him. But I'm hearing talk like he is the new Jeffrey Epstein. Can you tell me this story?

JASON: Yeah. Let me tell you why it's important for you and your audience. And we unpacked this last week on my show, trying to get a broader perspective on what's going on with Diddy. And it's about the music industry. And it's about the push for nihilism. And how they have manipulated our entire American culture, to be more nihilistic. And they've done it with music, and hip-hop is at the forefront of that.

So Diddy is someone of marginal talent, who has been installed and who has been allowed to use the music industry to sexually compromise young people, celebrities, other entertainers, politicians, or whatever. But it's like this whole -- part of the realization, understand, we have to come to is like, everything in culture. Tucker Carlson talked about this a couple weeks ago.

Just about architecture.

GLENN: Yeah. Everything.

JASON: And how it's not the same it used to be.

So in all the arts, they're trying to push us through a nihilistic worldview. And they did that with hip-hop.

And P. Diddy is one of the faces. And most powerful people in hip-hop.

Again, as I expounded on, it's not just Diddy. It's like BlackRock. And vanguard.

They actually own the music industry, and -- and control the musical industry.

GLENN: Wait. Wait. Wait. Wait. Wait. The investment houses of BlackRock and Vanguard? They own the music industry?

JASON: Absolutely, from Sony Music Group. They're the most invested in the music industry through Viacom. They own BET, MTV, VH1. They're in control of the music industry.

And they also own the majority. The overwhelming majority of stock, in the private prison industry.

I think the stock name is called CXW now. It's called core Cisco. It used to be called corrections. Corporations of America.

And then they transitioned the name. And so this whole hip-hop deal was about creating a culture, where like prison is a rite of passage.

And corruption. And criminality is just built into the system, and it feeds the prison system. The private prison industry.

And it's exploded.

But more than anything. It's promoted a nihilistic view. And a view that life really has no meaning.

And it's disconnected us from our moral principles. And religious principles.

That's what Diddy is the face of. And that's why I'm glad he's getting his comeuppance. And I hope they don't do a cover-up, and not expose everyone involved. Because -- and it's not just hip-hop. Music has been headed this direction. And pushing this nihilistic direction for a long time. And this needs to be discussed and exposed.

This isn't limited to black kids or the urban inner city. The way they pushed hip-hop and made it the most popular music in the world, and they pushed it in sports and pushed it everywhere. It's affecting everyone.

GLENN: I have to tell you, they're doing it now, to the last bastion of decency in entertainment.

And that is in Nashville. Country music.
It is going woke, and ugly.

And, you know, I -- they are -- they have just invested everything. They're tearing it apart.

I mean, you listen to popular music now. I mean, imagine the last time, we went through this revolution kind of spirit with Marxism.

It's back in the '60s. And you had artists that were singing really uplifting stuff.

Some of it was garbage. But some of was just an empowering movement. You listen to movement now. And it is disgusting. It is all about -- I mean, I challenge you, to listen to -- especially hip-hop. And -- and some popular music of that genre. And I challenge you to find a song that isn't talking about somebody's butt or putting something in somebody's butt. It's incredibly degrading.

JASON: Glenn, for someone like myself, who is 56, and who grew up on R&B music. R&B music used to be a lot of romantic love songs. You can't find in R&B or hip-hop, love is not remotely on the table.

GLENN: No.

JASON: You go to the Billboard, top 100. Love -- it's not about love. Not remotely on the table. If you want to listen to music that promotes love between a man and a woman, you have to go listen to music made in the '60s, '70s, and '80s. It's just stand up. This is intentional. They just removed love from the culture.

GLENN: I know. I know.

So, Jason, what is Diddy accused of doing?

JASON: You know, drugging, raping young girls and young men. Sexually compromising and leveraging the entertainers that work for him. Employing a cleanup man named Fayed Muhammad (phonetic), who if you're familiar with the TV show, Ray Donovan, if you've ever watched that on Show Time.

This guy would go up and clean up the crimes that Diddy and/or any of his entertainers were involved in. And there's these two lawsuits. One that he settled, but the second one with this Rodney Jones that he hasn't settled. There's allegations of shootings and murders and things like that. That have been cleaned up by this guy.

Diddy --

GLENN: How does that happen? How does that happen?

JASON: Not my world, so I would only be speculating. But yeah. These are the types of allegations, that have been going on. And, again, Diddy sexually compromising, forcing his entertainers into having sex with him. With men. With women.

And then using his house and cameras, everywhere in his house. So when he would throw these parties, if there were celebrities or politicians or prominent entertainers there, he would have everything reported. And so those people would be compromised.

GLENN: Wow.

JASON: So, yeah. They're calling him the Jeffrey Epstein of the music industry. And I don't think it's a bad label.

But, again, this is -- Diddy comes from a compromised background.

His father was a drug dealer, who in the '70s, who got busted. And I think snitched on some other drug dealers. And then got murdered when Diddy was just three years old.

And so what the rap music world really -- where they fish for talent. Are in all these broken. Compromised. Dysfunctional homes.

So Diddy likely sexually abused, when he was a child. And obviously, father murdered. Didn't grow up in an ideal environment. He will do anything for money. And that's why he gets installed and promoted and put in a position of power, because he's easily controlled, because he comes from a background where the values just weren't instilled. And again, this whole nihilistic view of the world, and all the -- the breakdown of the nuclear family that they've pushed, they're destroying the family structure, so that our kids are more vulnerable, and will be more easily seduced into wickedness and a lack of morality.

GLENN: So last question, and I have to take a quick break, and then come back. Because I want to talk to you about your event.

So why now?

Why has he gotten away with this for so long, and now it's just coming out?

JASON: That's a great question, Glenn. And I would -- my only explanation at this point, is that I think we're in that time, where -- my biggest --

GLENN: These things are troubling.

JASON: Yeah. My biggest explanation is, that I don't think we fully recognize all the dominoes that Trump knocked over.

GLENN: Yeah.

JASON: Just by saying, fake news and making us like willing to question everything.

GLENN: Yes.

JASON: And what Trump has done is legitimatize the so-called conspiracy theorists. So now the public, I think is more ready for the truth.

And people are -- you know, filing lawsuits. And because there's independent media. There's those of us who have had the scales taken off of our eyes.

Willing to talk about it and expose it.

But, again, I don't want to make too much of Trump. But he's really consequential in giving all of us the courage to say, man, we have to look at things in an honest fashion.

GLENN: Yeah. Okay. Back in just a second. First, let me tell you about our sponsor. It's RealEstateAgentsITrust.com.

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But I certainly was mind somebody who is like, oh, my gosh. I am with these racists.

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(music)
Ten-second station ID.
(music)
So Jason is doing his second year of roll call. He's doing a roll call. A call to all men, to step into the roll of men. And, you know, learn. How to be a man. And what that means in today's world. It doesn't mean an alpha male. It means somebody who understands the righteous dominion that a man has, and the important role, that they play, along with women, and their righteous dominion. And so this is happening where, again, in -- in Nashville, Jason?

JASON: Here in Nashville.

Friday, May 31st and Saturday, June 1st.

Glenn, my vision on this, is -- is, I'm trying to create an event, where men come together, across our little petty differences.

Skin color. Some of us may be of different faith denominations. But we're all believers of God. And we all have to understand.

And this is why I'm so pleased, that you're coming to speak.

Is because this year, we're focusing on trying to tell men, hey, there are sacrifices that we will want to make, if we want to restore this country. If we want to have a world that's better for our kids, than what -- than what we found.

And so I don't think anybody, that I know in the media space, understands the sacrifices, that were made, to make this country great. Better than you.

And if we're not reminded like, people made incredible sacrifices for us to enjoy this freedom, and that means we to have make some sacrifices, to protect it. To restore it.

And so that's what I want to you talk about. Give us a bit of a historical perspective of on -- because I think we've -- rost the willingness to sacrifice.

I think too many of us have been enjoying what we were given. Rather than protecting what we're given.

And so whether it becomes the -- some financial sacrifices. A smaller home. Or just the willingness to stand on truth and speak out.

And deal with the consequences.

And quit worrying about someone calling you racist or an Uncle Tom or a homophobe or this or that. Stand on truth.

Be willing to make that sacrifice. To improve this culture.

GLENN: Well, that is the first time I've heard. Because I agreed to do this.

But I hadn't talked to you, about what I want you to speak about. I will give you a rip roaring talk on sacrifice.

And what it has taken to get here. And what our responsibility is now. I -- I can't wait for that.

And I'm speaking on Saturday, June 1st, I believe, right.

And --

JASON: Let me throw in one other thing too, Glenn, I forgot to mention. I partnered this year in moving forward with John Rich. The country music star.

GLENN: Oh, I love him.

JASON: Many people know John. Big and rich. He's made some incredible music. Gospel music. Christian music. So the idea is music and food are things that we can all come together on without worrying about --

GLENN: Yes, we can.

JASON: You know, our differences.

They're two things that really bring us together.

They've ruined sports. And now that divides us as well.

But everybody loves good music. Everybody loves good food.

And we're inviting everybody that loves God, to come join us, let's get together. Let's prove everybody wrong.

And let's prove the other side wrong, that as men, we can come together. Put our differences aside. Celebrate God.

Listen to some good music. Hear some inspiring speeches.

And eat and enjoy Nashville. I think it will be powerful.

GLENN: You've got it. Okay. So you can get your tickets now.

There is a special price. Early bird price on them right now.

That ends this weekend.

Midnight this Sunday, you can get your tickets. Bring your -- bring your son.

Bring your friends.

It is a -- a weekend for men to get together.

And step in to their roles.

As men.

So get your tickets now. Early bird special. They will go up. Starting Monday.

But right now, you can get them at a special rice. Go and find that now. And I don't have the address. Where do you buy those tickets, Jason?

JASON: Fearlessarmyrollcall.com.

GLENN: Got it. Thank you.

Biden’s Crackdown on the Internet Is WORSE Than You Think | Glenn TV | Ep 343
TV

Biden’s Crackdown on the Internet Is WORSE Than You Think | Glenn TV | Ep 343

We’re being played: The Left isn’t “saving democracy,” and the internet is NOT free. The Murthy v. Missouri Supreme Court case is just the tip of the iceberg. The pro-speech plaintiffs argue the Biden White House colluded with social media platforms to censor speech they don’t like. Speech on topics like COVID origins, masks, vaccines, lockdowns, the Hunter Biden laptop, climate change, mail-in voting, and election integrity. There is much more of this censorship in our future. Thanks to a FOIA request and eventual lawsuit brought by America First Legal, AFL was able to uncover a report by U.S. Agency for International Development that was intended for internal use only. Glenn digs into this report called the “Dis-information Primer,” which provides a disturbing insider’s view of our government’s strategies for dealing with rampant so-called “information disorder.” And instead of debunking speech it doesn’t like, the government employs a strategy called “pre-bunking.” Wait, what?! We are up against a SPRAWLING network of government agencies, think tanks, and the largest companies in the world, all collaborating in multiple ways with the same end-goal: to censor unapproved speech in media and especially online. And you can bet voices at Blaze Media will be first on the chopping block …

Megyn Kelly: The ONLY 2 Ways Trump Can Beat a Corrupt Legal System
RADIO

Megyn Kelly: The ONLY 2 Ways Trump Can Beat a Corrupt Legal System

Former president Donald Trump is facing a handful of massive trials, including two that are being prosecuted by extremely partisan attorneys. Megyn Kelly joins Glenn to explain just how unprecedented this is. In New York, Trump is facing a hush-money case where if he doesn’t pay a $175 million bond, Attorney General Letitia James (who ran on a promise to prosecute Trump) has threatened to take his properties. And in Georgia, he’s facing an election interference case run by Fulton County District Attorney Fani Willis, who has apparently declared herself the “face of the feminist movement.” Megyn gives quite the response to that news and also explains the only 2 ways she believes Trump can survive these blatantly partisan attacks.

Transcript

Below is a rush transcript that may contain errors

GLENN: Oh, Megyn, Megyn, Megyn. How do you feel about Fani Willis? I want to quote. Because, I mean, she finally came out. She recognized it. She described herself yesterday, as the face of the feminist movement, and the face of women. She said, I feel more love.actually I have a lot of support from women. And that kind of surprised me. I'll tell you this, especially well African-American women who will just come up to me and say, we're so proud. You're such a great representative of us. But I would be lying to say, it was only African-American women. I've had Caucasian women, Asian women, Indian women. I didn't think I was the face of the feminist movement. But somehow, I've become it. Wow. That's --

MEGYN: Oh, my God. I just threw up a little in my mouth. I feel about Fani Willis the way I feel about Kamala Harris. These people cannot be feminist leaders or the face of female success, because they're too dumb. It's too bad for womankind. We can't allow it. Kamala Harris cannot be the first female vice president or president, God forbid. And Fani Willis is not the face of womanhood. What does that mean?

The face of woman hood is do a piss-poor job of managing your money. Wind up flat broke, despite the fact that you have a law degree. Decide to see the world anyway, by getting some guy, who you are -- who is married to another woman, and letting him take you all over the world on his dime. And then lie about it under oath? That's not -- no. She's not my representative, nor most women's.

GLENN: So do you believe her, that she's hearing that? I guess in small numbers, maybe. But there's no groundswell support for her, is there? Am I missing --

MEGYN: You know what, you're only saying that. Because you don't hang out in hard left circles.

I'm sure she's an icon to people who absolutely hate Trump. And think that Jack Smith is a hero. And Letitia James is one. And Alvin brag.

That's why they love fanny. They don't know anything about fanny. They just know that she's trying to get Trump.

They think the future the republic, hangs on this woman. And she needs to be elevated the way we need to ruin Ronna McDaniel. It's opposite side of the same coin.

GLENN: So I was talking to Andy McCarthy yesterday, and he said, Fani Willis and Latisha James. Both the way they have just gone after Donald Trump -- and Latisha James,actually campaigning saying, I'm going to get him. Hire me, and I will get him. He said, 15, 20 years ago. You -- you wouldn't have had a chance. Nobody in, you know, the law industry, if you will, would have respected you at all.

You wouldn't have gotten elected. We've changed.

MEGYN: It's so dangerous. All I have to say, I go to bed at night, sleeping comfortably for now because we have six conservatives on the U.S. Supreme Court for the first time that I can remember, in my lifetime. And they're the last guard, against this nonsense. They're there. And under the most egregious overreaches, they will correct things. They won't get involved in everything. But thank God we have them. Because the justice system as we know right now, is being perverted by hard partisans, who unlike, you know, as we've seen 10 years ago, to no need to hide it.

He's right, 20 years ago, prosecutors didn't even understand their job to have anything to do with politics. They understood, they would get fired if they looked at justice through that lens. Ten years ago, I think they started doing it, but doing enough to try to hide it.

That it would be considered bad form. And now they're running for office on it. So I've never seen such hard partisans in the prosecutorial decision since Mike Nifong in the Duke case. Right? Somebody who is just completely subverting justice to advance their own interests. In his case, he wanted a higher pension. And if he would get it, if he remained on as DA, in a minority/majority district. And, therefore, he sided with the back fake accuser, against the white innocent defense -- defendants on the lacrosse team. Well, that's Fani Willis. She loves being DA. She's running around telling people she's the greatest DA Fulton County has ever seen. As far as I can tell, she's not particularly talented, definitely not a very smart person. And yet, she's paying somebody ten thousand dollars a year to monitor her media references, that taxpayers are footing that bill, by the way. Because she wants to be a star. That's what Fani Willis wants. She wants you to see her as an icon. Feminism. The one who got Trump. Not the one who got justice.

But let me tell you something, Glenn, her problems are just beginning. There's a very high likelihood that Fani Willis will be disciplined including up to disbarment. That some enterprising committee, whether it's the State Senate Committee in Georgia or potentially The Bar, or someone beyond, will get their hands on the actual substantive texts between Fani and Nathan wade, putting the lie to their on-stand testimony about when their affair began. And that's to say nothing of the case she has against Trump completely falling apart, because there is no Rico violation here.

GLENN: Well, we found out from another icon of women. Another genius woman, AOC, that Rico isn't against the law. It's not a crime.
(laughter)
It's an act.

MEGYN: That's amazing. How do you grow up -- doesn't she -- she grew up in the Bronx, but she didn't. Totally. Okay.

I used to date a guy from New York town heights. It's a lovely superb. His dad is a New York City cop. He lives there. It's not the Bronx. It's in Westchester. It's very different.

So in any event, how do you grow up in any of the Five Burroughs of New York is, and not understand what racketeering is? It's kind of like our favorite crime to bring against the mobsters. It's how we no longer have as active a mob as we used to. She knows very well that it is a crime, and it is something that we use traditionally to get the mob. We have multiple players working together, to advance a criminal enterprise, which as Andy McCarthy mentioned. Said about the Trump defendants and the Rico case. Seems like the only thing they've done together is get indicted.
(laughter)

GLENN: Let me -- let me switch to another court case. The Latisha James case. Seizing of Trump's assets. The bond was reduced from 464 million to 170 million. Which everybody kind of celebrated. Oh, wow.

It's good for -- it's still 170 million dollars. Which is -- in a victimless crime, I don't understand.

MEGYN: It's completely outrageous.

There's no arguing that it's better than 54. I guess that's your silver linings. You pick the ladder. You pick 170 whatever. But, no. You're right. And, look, I think Trump should be able to come up with this, as opposed to the 450, which was scary. And might have cost him a building or two. Which is just so unjust. But it doesn't change much in a case. The injustice against him is patent to anyone who is not a hard left partisan. And what it means, yesterday.

I couldn't believe it. I mean, sometimes the media still surprises me. Was the outrage on the left, about the, quote, special treatment Donald Trump was getting.

GLENN: I know. I read that. I read that this morning. I thought, are you kidding me?

You're saying, there's a double standard for Donald Trump, and it's in his favor. That's crazy be sure.

MEGYN: Yes. Yes. Okay. Laurence Tribe is a Harvard law school professor. He's been there forever, and he's a committed leftist.

He's come on my show. When I first launched my show. He came on. And we discussed, I think it was something around January 6th. I can't remember.

But my point is, he wasn't such a lunatic, that I said, oh, I really don't want to talk to this person. It's too far around the bend. I don't want to deal with them.

He was leading the charge yesterday. About the two-tier justice system, in favor of Donald Trump. Like, they're too far gone.

And unfortunately, their prosecutors and their judges, and some of them are involved in these Trump cases. Which is why I think we understand, the fix is in.

He probably is going to lose potentially across-the-board. On all four of these criminal cases. And the two civil cases, we've already seen. The E. Jean Carroll one going against him, and now this Engoron one has gone against him. It's going up on appeal. And it's all been baked in.

I think at this point, the only thing that will save Trump, is the Supreme Court and us, in November.

Those are the two ways out of this for him. Which is pretty ironic, if you think about it, Glenn. What the Democrats want more than anything, is for him to not be president again. To not run for president again. To skulk off into the darkness. And you think made it such that he must win in order to save his life, his company, his freedom.

He has no choice, but to win. So he will fight harder than ever. I mean, it's kind of perfect.

GLENN: What do you think of Jonathan Turley?

I was thinking earlier today, there's a couple of voices I really trust, when it comes to law. One of them is yours. Alan Dershowitz and Anthony Turley. What do you think of him?

MEGYN: I love Turley. He's great. I used to put him on my show in the middle of the afternoon, when nobody was watching. And he was George Washington professor, and went to visit him a couple of times. And he's brilliant. What I love about Jonathan is he has a way with them word things, that not all real lawyers have. Some lawyers can do it in the courtroom or the brief, but they can't do it on live TV. And he's great at it. I played a sound bite from him two weeks ago, when the Fani Willis judge said, you've got to choose. One of you is going. Fani or Nathan. You guys choose. And he said, it's as if you found two crooks in the bank vault, and you only prosecute one. You know, so, anyway, I love him. He's trustworthy, and he's fair. And I don't even think that Jonathan Turley is conservative. He's just extremely fair.

GLENN: No. I don't think so. Yeah. I think he's a constitutional guy.

MEGYN: Yeah.

GLENN: Which you know constitutional people. Because if they're really based in the Constitution, it doesn't always fall in your favor. You know.

MEGYN: That's right. That's right.

GLENN: Because -- yeah. It's neutral. And sometimes we lose our way.

Can I ask you, the -- all of the stories that have come out today. There's one, I think in Rolling Stone. That talks about the structure, that the left is building, to make sure that Donald Trump doesn't cheat.

I've always felt that whatever they say, that we're doing, they're doing. And there's this amazing article about how they've got lawyers, everywhere. They're lawyering up for any crazy thing. Because he's not going to steal this election.

And their premise on why they're doing this, is because they say, he's lawyering up, and he's going to try to steal the election.

What are we facing? In -- in November? What are we facing?

MEGYN: You know, my mom said a year -- I mean, her lifetime, as a psychiatric nurse at the Albany veterans hospital.

I believe they call this transference. I'll get my psychiatric platform here. What they're doing to him.

I do think this is their best chance of winning. I think they've got more money than the Republicans do. And most of Trump's money has to go to his legal fees. Which I have to be honest, I do also think that helps him.

I also think it increases his chance of winning. People are so angry. I don't think it's a complete waste of flushing money down on legal expenses. Anyway, they have more money. They are better organized. And I think they're dirtier, and they're more afraid. They're definitely more afraid.

You know, I watched 27 minutes of Rachel Maddow last night. Twenty-seven.

I don't think I've ever done that. I said to my teens, is she always this dramatic? She reminded me of Katie Brit. Okay.

Anyway, she is telegraphing 100 percent as she has been for a while. That Donald Trump will get in office, Glenn, and is never going to leave.

That the references by Trump and others to an unfair 2020 election. Forget whether or not you think it was stolen. I think most Republicans would agree, unfair. And not entirely legit.

GLENN: Yes.

MEGYN: That that is all trying to dull the senses for the argument Trump will make when he's reelected. That we can't have any more elections. That the system is crooked. And therefore, we just have to keep him in there forevermore like a king. And that, you know, the country would just go along with that, because we're morons, and we've had the senses dulled. Those are the stakes that the left sees on Trump being elected now. So who would put anything past that group? You know, we listen to Sam Harris, explicitly.

I applaud him for his honesty. At least he's being clear about the way he feels. The left, most of these people are, you know, reluctant to actually say that. But behind the scenes, what are they doing?

I think whatever it takes.

GLENN: God help us all. Megyn, thank you so much.

We'll listen to you, again. Right after my program on XM.

Glenn is SICK of Hearing THIS About America
RADIO

Glenn is SICK of Hearing THIS About America

Glenn has heard a lot of talk lately about how Americans should hunker down and beg the government for help because the destruction of Baltimore's Francis Scott Key may affect our supply chain for a long time. But Glenn is "SICK" of hearing what America CANNOT do. Instead, Glenn asks us to remember who we are, what we've done, and who we came from. We invented skyscrapers, built the Hoover Dam, and answered the Great Depression with some of the biggest marvels of engineering ever accomplished!“Stop tearing everything down," Glenn says, "and let’s start BUILDING.”

Transcript

Below is a rush transcript that may contain errors

GLENN: All right. I want to give you this -- I want to give you this story today. The immediate upshot for Americans on this bridge collapse. If you're waiting for a new car to come in from overseas, prepare to wait longer. The port of Baltimore stands as the nation's leading import/export site for cars and light trucks. It's also the leading nexus for sugar. And gypsum. Which is used in fertilizer, drywall, and plaster. A record 52.3 million tons of foreign cargo was transported through Baltimore just last year.

The bustling port is cut off now after the 1.6-mile bridge crumbled and fell into the river early Tuesday, blocking the only shipping lane into the port. The port is one of the busiest in the US, and saw a record of 52-point-million tons of foreign cargo transported in 2023.

The officials have said the time line for rebuilding the bridge is, quote, years. We will do everything we can to protect those jobs and help those workers, the president said yesterday. The port of Baltimore creates more than 15,300 jobs, with 140,000 jobs linked to the activity at the port. This is a major disaster, and will continue -- and will create significant problems on the east coast, for US importers and exporters. The bridge collapse will mean for the time being, it will not be possible to get to the container terminals, or a range of the other port terminals in Baltimore. The Maryland Secretary of Transportation told the reporters Tuesday, that vessel traffic in the Port of Baltimore would be suspended until further notice, but noted the port is still open to trucks. So we still have trucks going in.

As soon as we clear the bridge, we can get vessels in.

But it's going to be a major hassle for -- over time, for cars, et cetera, et cetera.

An expert on property damage cases in the shipping industry, told the New York Post, that the collapse will have a major impact, on shipping and traffic routes in the east coast, for the foreseeable future. It's not -- quote, it's not going to get fixed any time soon.

It's going to take a lot longer than anyone expects. This is going to be a major problem for the northeast. I'm sick of this. I am absolutely sick to death of all of these stories, that say things like that.

Have we forgotten who we are? Have we forgotten what we've done?

Let me just take you on a little journey here for the American spirit. A spirit so potent and so vibrant, that it has scaled towering mountains. Mountains nobody thought that they could cross. Constructed marvels of engineering. Have you ever been to the Hoover dam? The skyscraper was invented here. Here we are on the threshold of tomorrow, none of us know what is happening tomorrow. None of us. But I'm getting the impression that we've been so beaten down, that we believe we're not going to make it tomorrow. Can I just remind you of who we come from? Our ancestors what they did. Our history, if you just look through it briefly, you will see a group of people, that never take no for an answer. And can do anything. I want to stop just briefly in 1930. The great depression had its icy grip on us. It was a time like the -- where everybody felt the flickering candle. In the vast darkness. It was just barely there.

Yet, it was in this crucible of adversity, that Americans did great things. The Empire State Building rose. It wasn't just a structure of steel and stone. But it was a beacon. A beacon of hope and American resilience and ingenuity. The way that thing was built, no one has ever seen anything like it before and since. In a record-shattering one year and 45 days, an army of workers, as many as 3400 men on certain days, they transformed this audacious vision, into a cowering reality.

The guy who was funding it knew, this thing better come in under budget. And we have to get it here fast. Or this will just destroy all of us.

The Empire State Building wasn't constructed. It was conjured into existence, with a symphony of clanging metal and roaring machines. And, quite honestly, the inexhaustible spirit of its builders.

Their stories. The men who were perched on the steel girders. That were being felony in by giant cranes, and they sat there. They whispered tales about how they could still feel the warmth of the freshly poured metal beneath them. That beam was still warm, even though it was poured in Pittsburgh.

And then pit on a train, then put on a boat. Then put on a truck. Then hauled up into the air. They could fill the warmth. It was moving that fast.

It was a feverish pace of construction. It seemed to defy the laws of time and physics.

For a long time, it was the tallest building in the world. An architectural achievement. It was also a declaration to the world, that America was a land where the impossible became possible. Determination. Innovation. A relentless will to succeed.

Yeah. That's all old, dusty history. Why even look at that? Pause they're not merely historical footnotes. They are blazing torches, illuminating our path forward. They remind us or are supposed to remind that you say when we're faced with adversity, we don't just endure it. We overcome it. We don't wait for history to chart our course. We write it with the sweat of our brow and the strength of our backs. That's who we are.

Have we forgotten that?

It's going to be years. We find ourselves at another crossroads, America. Faced with the challenges that threaten to dim the bright future that we all dream for, for our nation, for our children.

The spirit that build the Empire State Building, that laid down miles of railroads. That cut through the Rocky Mountains.

That sent astronauts to the moon.

It's still inside of every heart of every American, somewhere. Awaken that spirit.

Scale new mountains. It's not just rock and earth. Scale the mountains of innovation and stainability.

Build. Not just physical structures. But a future that upholds the spirit of adventure and hard work and ingenuity.

Stop tearing everything down, and let's start building.

Well, we might have another president. You know, who is out there? Who could we?

Why are we waiting? If this isn't a national emergency, I don't know what it is. And I don't mean the bridge. I mean all of it.

Well, our government has to lead. Really? Really?

Does it?

Maybe that's our problem. America is led by its values and its principles, that are found in the soul of those who still remember who we are, and who we serve.

Americans led the way. The government always follows.

Yeah. Well, we can't act without them.

Bullcrap. Where are the bridge builders who will stand up today, and say, I'll get it done?

As soon as that happens, you'll see who is leading, and who is stalling. The government is the one that stalls the engine out. To expect more from our leaders is rational. But to expect the most from ourselves, is essential.

We are the architects of our destiny. We are the builders of our dreams. There's a huge task that's right in front of us. I still believe we can tackle that. We can overcome anything.

The history of America is a tapestry, woven with the threads of bold endeavors. Monumental achievements. Blood, the blood spilled at the Empire State Building, and every other path to greatness. Let's harness the potential, not for glory. Not look at us. Oh, we're the best. We're the best. But because we understood -- we understand that in the pursuit of a better world, action is not just an option. It's our duty.

I often wonder, as I look into the horizon now, in today's America. Is that a sunset or a sunrise?

It depends on you. If Americans rise with the determination that carried our forbearers through the trials and tribulations. If we build with love and compassion and an unbreakable commitment to the spirit of daring adventure and hard work and ingenuity, we restore ourselves and our country.

In the words of our ancestors that are etched in every American heart, somewhere, you can do it. You can become anything. You can do anything.

That doesn't make it easy. It doesn't mean you deserve. You deserve it. You can do it. Because it's hard. And it's in doing the hard things, that we find the best of ourselves. That's why everything that's going on is not necessarily a curse.

It's an honor to serve at this time. Because we can find the best of ourself.

We can step forward into the dawn of a new day with our eyes wide open to all of the problems of the past and the possibilities that are right in front of us.

But we have to resolve to make those possibilities our reality. We are Americans. There is nothing we can't achieve, when we all stand together. United by our dreams, and driven by the will to see them fulfilled.

Don't listen to anybody else that tells you the differently.