Best of the Program | Guest: Carol Roth | 4/7/25

Summary

Summary of "The Glenn Beck Program" Episode Featuring Carol Roth (April 7, 2025)

The Glenn Beck Program, hosted by Blaze Podcast Network, offers a compelling exploration of American culture and politics through storytelling, insightful analysis, and Glenn Beck's engaging personality. In the episode titled "Best of the Program | Guest: Carol Roth", aired on April 7, 2025, Glenn Beck delves into the turbulent economic landscape, discussing market fluctuations, tariffs, and the broader implications of governmental policies with co-host Stu Burguiere and special guest Carol Roth.

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1. Opening Remarks and Market Concerns (00:30 - 03:06)

Glenn Beck kicks off the episode by expressing anxiety over potential market downturns, referencing historical events like Black Monday in 1987.

Glenn Beck (00:30): "Oh my gosh. Was today another Black Monday?"

Co-host Stu Burguiere acknowledges the severity of current market conditions, setting the stage for a deep dive into economic issues.

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2. Market Volatility and Trump’s Tariff Policies (03:10 - 15:40)

The conversation intensifies as Glenn and Stu discuss the recent $5 trillion stock market wipeout attributed to tariffs imposed by the Trump administration.

Glenn Beck (04:05): "So far, you have 50 countries that have asked to negotiate."

They explore the implications of retaliatory tariffs from countries like China and Vietnam, debating the effectiveness and sustainability of such economic strategies.

Stu Burguiere (05:19): "I would love them to be at zero."

The hosts express hope for reduced tariffs but acknowledge the complexities of international negotiations and trade deficits with countries like Madagascar and Australia.

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3. The Great Reset and Economic Revolution (09:10 - 17:09)

Glenn Beck introduces the concept of the "Great Reset," differentiating it from President Trump’s approach to economic reform.

Glenn Beck (10:00): "We could all eat, you know, bugs, and they were going to reset everything... Donald Trump came along and said, don't like that."

He posits that Trump's policies aim to dismantle globalist frameworks and reinvigorate the American economy through an "economic revolution."

Glenn Beck (14:30): "I feel like this is the Great Reset. It's the Great Reset of the Great Reset."

Stu remains skeptical, emphasizing historical resilience and cautioning against attributing current market fluctuations solely to Trump’s tariffs.

Stu Burguiere (15:40): "I think there's no reason to believe this won't bounce back."

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4. Impact on Main Street and Small Businesses (17:09 - 25:31)

The discussion shifts to the butterfly effects of economic policies, particularly how stock market volatility and tariffs impact small businesses.

Carol Roth (32:56): "If you have to spend $150,000 to bring in a container... That's panic worthy."

Carol Roth articulates concerns about sustained economic downturns leading to increased deficits and the struggles of Main Street businesses already weakened by previous disruptions like COVID-19 and inflation.

Carol Roth (36:20): "Main street has been beaten up for five years."

Glenn Beck acknowledges the challenges faced by small businesses amidst shifting tariffs and economic instability.

Glenn Beck (43:08): "He is negotiating now for America."

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5. "Can You Outrun a Horse" Segment – A Metaphor for Overconfidence (25:31 - 33:14)

In a lighter segment, Glenn engages Stu in a playful debate about the feasibility of humans outrunning various animals, using it as a metaphor for overconfidence in economic predictions.

Glenn Beck (25:45): "Out of 50 men, how many say yes? They can beat a horse."

This segment underscores the theme of misguided optimism and the importance of realistic assessments, both in personal beliefs and economic policies.

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6. Guest Insights: Carol Roth on Economic Implications (32:58 - 49:01)

Carol Roth joins the conversation to provide a professional perspective on the economic ramifications of current policies. She emphasizes the cascading effects of inadequate tax receipts and the vulnerabilities of small businesses facing increased import costs.

Carol Roth (33:14): "Main street... registrations and changes... Businesses cannot operate like this."

She critiques the administration's tariff strategies, arguing for more reciprocal and mathematically sound approaches to trade.

Carol Roth (39:50): "They came up with some insane formula that was based on a trade deficit divided by imports that means absolutely nothing."

Glenn and Carol discuss the potential long-term impacts of centralized economic planning and the risks of inflexible governmental power, highlighting the need for Congress to reclaim its role in policy-making.

Carol Roth (46:20): "If we get in a new administration and they wanna do things completely differently... It’s very challenging."

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7. Closing Remarks and Reflections (49:01 - End)

Glenn Beck wraps up the episode by reflecting on the complexities of negotiating economic policies and the potential benefits of Trump's assertive approach, while acknowledging the inherent risks and uncertainties.

Glenn Beck (48:32): "I don't think I am, because what he does is negotiate."

Carol Roth concurs, emphasizing the delicate balance between effective leadership and the pitfalls of overreaching governmental authority.

Carol Roth (49:01): "I think he is negotiating now for America."

The episode concludes with mutual appreciation between the hosts and their guest, reinforcing the ongoing dialogue around America's economic future.

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Notable Quotes with Timestamps:

• Glenn Beck (00:30): "Oh my gosh. Was today another Black Monday?"
• Stu Burguiere (05:19): "I would love them to be at zero."
• Glenn Beck (14:30): "I feel like this is the Great Reset. It's the Great Reset of the Great Reset."
• Carol Roth (32:56): "If you have to spend $150,000 to bring in a container... That's panic worthy."
• Glenn Beck (25:45): "Out of 50 men, how many say yes? They can beat a horse."
• Carol Roth (39:50): "They came up with some insane formula that was based on a trade deficit divided by imports that means absolutely nothing."

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Conclusion

This episode of The Glenn Beck Program offers an in-depth examination of the current economic challenges facing America, blending serious analysis with moments of levity. Through robust discussions on market volatility, trade policies, and their broader societal impacts, along with expert insights from Carol Roth, listeners gain a nuanced understanding of the complexities shaping the nation's financial landscape.

Transcript

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[Glenn Beck]

Oh my gosh. Was today another Black Monday? That's what we started when we started to record today's show. Flashback to 1987. See how bad that day actually was and did it happen today? Also, what's behind the human psyche of thinking, yeah, I could outrun a horse. And Carol Roth joins us all on today's podcast. All right, let me tell you about our sponsor. It's Relief Factor. Pain has a really funny way of convincing you to settle. It whispers in your it's just how things are going to be. I know you are getting old, probably just slow down. Don't get your hopes up if anything's gonna change because this is probably only gonna get worse. Now maybe you've listened to that voice. You've stopped doing the things you love. You start planning your day around things that hurt less. That's not your fate. If you, if you hear nothing else, let me whisper this in. You're still in the fight, my friend. You still have options. One, one thing I want you to explore is Relief Factor. It's not a drug. It's a. It's like Z Factor, which is offered for sleep, developed by doctors, fights inflammation in the body. And that's the source of most of the pain and our disease. Listen, I was where you were. I gave up. I listened to that. I was absolutely convinced. And when my wife said, try Z Factor, I was like, that's not going to work. It broke the back of my pain, gave me my life back. 1995, you can get Relief Factor's three week quick start. That's less than a dollar a day. 1995, 1, 800 for relief. 1, 800, the number for relief or visit relieffactor.com hello America. You know, we've been fighting every single day. We push back against the lies, the censorship, the nonsense of the mainstream media that they're trying to feed you. We work tirelessly to bring you the unfiltered truth because you deserv it. But to keep this fight going, we need you right now. Would you take a moment and rate and review the Glenn Beck podcast. Give us five stars and lead a comment. Because every single review helps us break through Big Tech's algorithm to reach more Americans who need to hear the truth. This isn't a podcast. This is a movement. And you're part of it. A big part of it. So if you believe in what we're doing, you want more people to wake up, help us push this podcast to the top rate review share. Together we'll make a difference. And thanks for standing with us. Now let's get to work.

[Stu Burguiere]

You're listening to the best of the Glenn Beck program.

[Glenn Beck]

Hello, Stu.

[Stu Burguiere]

Glenn, how are you?

[Glenn Beck]

Panicked. Panicked. Panicked.

[Stu Burguiere]

Things are bad. Things are. They're get a little bit better now.

[Glenn Beck]

They're bad.

[Stu Burguiere]

That's what we're going to get today. The ups and downs of the market every 10 seconds.

[Glenn Beck]

I got to tell you, I'm not concerned. So it could be very, very, very bad.

[Stu Burguiere]

No, when you' not concerned, not possible thing.

[Glenn Beck]

Actually I'm, I'm actually okay through all of this. I'm not like panicked or, you know, or anything.

[Stu Burguiere]

And that's because you're an evil rich person, Glenn.

[Glenn Beck]

No, no. Lost a lot of money last week as an easy. As an evil rich person. Yeah, A lot of money. A lot of money. No, just don't think that it was, I don't know, you know, Jim Kramer's out there and Jim Kramer is kind of the opposite of me, whatever he says. And you know, I think this is.

[Stu Burguiere]

People are always so tough on Jim Kramer. It's bs. The poor guy goes out there and he makes a bunch of stock predictions.

[Glenn Beck]

Hon, leave alone. Honey, honey. Yeah, just trying to sell it. Just try to sell.

[Stu Burguiere]

Okay, so he's wrong.

[Glenn Beck]

He's wrong. Anyway, okay, you know, bloodbath, crash, Black Monday, Asian markets sliding as we speak. We are now 21 minutes and 26 seconds away from the open, from the apocalypse.

[Stu Burguiere]

I mean, look, I don't know, who knows what's going to happen. We've had what, two or three really, really bad days in a row. Like four digit drops. You prefer to avoid those. I don't think we'll see another whole. It would be surprising even during COVID I'm thinking back to the COVID days when there's a real reason for stocks to be dropping. We're just turning all of our businesses off for six months.

[Glenn Beck]

I think this is all fear.

[Stu Burguiere]

In that period though, we still saw days of big gains. So I would think that it's gonna bounce around wildly is what we're gonna see until this thing settles. And if it continues to escalate, like, for example, we put all these tariffs on China. They responded with 34% tariff of their own. Like what Donald Trump promised going into this is that he would. If you raise tariffs on us, we're gonna continue to raise them on you. Right. I don't think. I don't want that to happen. Right. But if he goes there and then China goes there and we have this escalation, I would assume this is gonna last longer.

[Glenn Beck]

So far, you have 50 countries that have asked to negotiate. The tariffs are like, we've, we've, we've rethought this. Maybe we'll negotiate. Vietnam went to zero.

[Stu Burguiere]

Are we happy with that outcome?

[Glenn Beck]

I'm happy with negotiating tariffs down.

[Stu Burguiere]

So you want them to zero?

[Glenn Beck]

I would love them to be at zero.

[Stu Burguiere]

You would love to?

[Glenn Beck]

Yeah, I'd love to.

[Stu Burguiere]

I would love them.

[Glenn Beck]

I would love them to be at zero. That would be.

[Stu Burguiere]

So if a country turns them to zero, we should go to zero would be your policy.

[Glenn Beck]

That would be my hope.

[Stu Burguiere]

Now, that has not happened so far.

[Glenn Beck]

No, I know.

[Stu Burguiere]

We hope that changes.

[Glenn Beck]

I hope that changes. I hope that changes.

[Stu Burguiere]

I'm with you. I mean, I hope that changes.

[Glenn Beck]

Their response to Vietnam was like, great, now buy more of our stuff.

[Stu Burguiere]

And this is an interesting thing. Like, like, so Madagascar, for example, this is one that is on our list. We were terrible.

[Glenn Beck]

They're cartoon.

[Stu Burguiere]

It's right. We import their cartoon animals.

[Glenn Beck]

Yeah.

[Stu Burguiere]

Because where else are we gonna get talking animals? We can't just find them in America. They're not in America. I assume they're all bred in Madagascar.

[Glenn Beck]

Because we keep getting those movies. Talking animal factory over there. Yes, go ahead.

[Stu Burguiere]

So Madagascar, we have a trade deficit with Madagascar. Okay. They make vanilla beans.

[Glenn Beck]

Really?

[Stu Burguiere]

Well, Americans love their freaking vanilla beans.

[Glenn Beck]

Love them.

[Stu Burguiere]

So we take in a lot of their vanilla beans. You'll be surprised to hear that the people of Madagascar have very little appetite for are high level financial software that we export. They don't want to take any of that.

[Glenn Beck]

Wow.

[Stu Burguiere]

In fact, they don't have any money to buy anything that we sell. So we have a trade deficit with that.

[Glenn Beck]

Okay.

[Stu Burguiere]

That seems to me to be very.

[Glenn Beck]

That one seems to be like one. We should negotiate. You know, we should. So on our side, we should be like, okay, Donald, Madagascar. We might want to just look the other way on that one. Right, right, right.

[Stu Burguiere]

And so Australia is the opposite.

[Glenn Beck]

Right.

[Stu Burguiere]

Where they have. We have a trade surplus with them, largely because the things that we Export, you know, like, they need, like, you know, technology and stuff. They need the things that they export, which are actually also valuable.

[Glenn Beck]

Stuffed kangaroos. Stuffed kangaroos.

[Stu Burguiere]

Stuffed kangaroos. Not talking ones. Those will only come from Madagascar.

[Glenn Beck]

Crocodile boots.

[Stu Burguiere]

Crocodile boots. Crocodile Dundee actors.

[Glenn Beck]

Yeah. Okay.

[Stu Burguiere]

That if they need another sequel. Yeah, we got that, like stuff, like metals. There's an article about this that I was reading recently that like metals was the example where we were pretty good at coming up with that stuff ourselves. We don't need to export. It's far away. They're heavy to ship. Like, not a great thing to export. So we have a trade surplus with them.

[Glenn Beck]

And we tried tying them to helium balloons. No. All right. Just saying that.

[Stu Burguiere]

So that's one other part of the negotiation. We think we could do more. I don't know where helium balloons come from, but whatever that country that is, we have to work with them.

[Glenn Beck]

But the point, God help us. I hope it's Madagascar.

[Stu Burguiere]

A lot of these arrangements makes sense. There's a reason why we have a deficit or a surplus.

[Glenn Beck]

Sure.

[Stu Burguiere]

And like that is that that's how.

[Glenn Beck]

It should be for like a place like Ireland. I mean, you know, we buy a lot of Lucky Charms.

[Stu Burguiere]

We have True.

[Glenn Beck]

Too many. You know, maybe we can slow down on that and we might. Ireland. We might. We might slow down on me Lucky Charms.

[Stu Burguiere]

So all leprechaun themed items.

[Glenn Beck]

Yeah, that's anything. Green beer, all of it.

[Stu Burguiere]

What about the leprechaun movies?

[Glenn Beck]

Because we made like those already. In my own private little kingdom.

[Stu Burguiere]

Oh, yeah.

[Glenn Beck]

So anyway, so. So we are possibly looking and the reason why they're saying it's, you know, this could be Black Monday. I don't know if anybody remember Black Monday happened in 1987. And, you know, the Dow dropped 508 points. That was 22% in one day. So the Dow at what, 4,200? Right around 4,200. That would be looking at almost a 10,000 point plunge today if it was black. Black Monday. That would be significant. Yeah, that would be significant.

[Stu Burguiere]

I don't think that's going to happen.

[Glenn Beck]

Don't think that's going to happen. Well, you don't know. You don't know. Well, it wouldn't happen because we'd close the market. Because after Black Monday we're like, we should close the market. When that happens again, maybe we should just go. Everybody needs to take a breath. Have a seat. Okay. But it wasn't the end of the world, right? I mean, 22% drop. It was not the end of the world. It didn't happen. We, you know, by the 87, we were seeing cracks because of greed, basically. Deregulation, tax cuts, a sense of invincibility. We always go through these cycles and. And everybody started to get greedy and buying stocks, and then it just went too high, and we had problems with computers and everything else, and boom, it was out. Okay, so what happened last week? $5 trillion wipeout. Not a glitch. It was. It was an actual reaction to Trump and his terrorists. 10% base tariff on all oil imports. You know, bigger hits on India and China. Those are real numbers. Okay, great. Jim Cramer said that was a policy nuke. I don't know. I don't know. I just. I just have a different look on this. I don't know why. I just have a different feel on this one. I feel like. You know what? You know what we're not talking about? What we're not talking about is this is the Great Reset. Except it's not the Great Reset. It's the Great Reset of the Great Reset. The Great Reset. We had two ways to go, and Donald Trump never, never said it this way, but I thought I had articulated this, and maybe I hadn't clearly enough, and I've been trying to say it for the last few days. So let me just be very, very clear. You had two choices. The world as we know it doesn't work. So the first choice was what Klaus Schwab was doing, where we could all eat, you know, bugs, and they were going to reset everything, get away from the free market entirely, go all globalism and push everything up to a global government. That would reset. Yeah, that would reset our economies. It would reset our dollar. We would go to a global currency. All of this stuff we've talked about for the last five years, that's real. That was happening. Donald Trump came along and said, don't like that. Don't want to do that.

[Stu Burguiere]

That's good. That's really a good observation. We shouldn't do that.

[Glenn Beck]

The problem is you can't just not do that because the problems are real. The solutions. The way the world works now no longer works. It doesn't work the way it did in 1946. It's not 1946 again. So we need to update the system and repair all of the damage that has been done for the Great Reset. Because, remember, what was their. What was their plan to manage the decline of the west, just to keep it going enough so nobody really. And then it'll come in one violent shock and everybody will be like, oh, my gosh, panic. And that's when they will finally change everything and make the final switch. That's the great reset. So Donald Trump, we elected him because we didn't want that, right? If you thought you were going to get a replay of 2016, you're mistaken because this time he gets it. Remember, we said, you know, the 2020 election was really good, it turns out, because he had time to think and realize what he was fighting and where everybody is and make a plan. This is part of his plan. And he told us. Now, he didn't say about the great reset part, but he told us that we're going in a completely different direction. He told Europe that. He's told everybody that that's what NATO is about. That's what all of this stuff is about. He's resetting the system. So it will be an America first. And anybody else that wants to join us, you know, England first, whatever, we'll all get around, we'll all get along, we'll trade, but we're not going to do it the way the globalists have done it. So what we're going through now is the shock to the system of the beginning of the shaking off the calcification of this system and restarting the engine and saying, we're going in a different direction. Throw this thing in reverse. And so all of the, all of the gears and everything that has been turning one direction now for almost 100 years, and especially in the last 25 to 30 years with the great reset and the W, E F and everything else, all those, all those mechanisms, all those gears that have been going one way only all of a sudden are grinding to a halt and reversing. That's what you're going to feel now. I didn't expect this to be happen now. I mean, I, I was expecting that I would see progress on the border. I was hoping that I would see tax cuts by now. I was hoping I would see more regulation cuts by now because those, those two things are vital before you put in the tariffs or at least right after you put in the tariffs. It helps ease this pain. That's Congress haven't done their job. I don't know why he's not pounding his fist on their heads right now to get that job done, but that's what's happening. And this is going to, this is why Donald Trump said over the weekend, what was it? I want to give his quote, he told the average Americans, hang tough, just hang tough with me. I know it is. It is bad right now, but this is an economic revolution and we will win, hang tough. It won't be easy, but the end result will be historic. I. That's what I'm hoping for. I'm not hoping that his tariffs work. I'm hoping for an economic revolution. I'm looking for the end result to be historic. And it's not just about money. It's about changing the entire system away from that system which was pounding America into the ground and managing our decline. Does that make sense to you?

[Stu Burguiere]

It does make sense to me.

[Glenn Beck]

You don't buy into it?

[Stu Burguiere]

No, I do not. Really. I think Donald Trump had what I expected from Donald Trump. And again, we may very well see lots of things will change. There's no reason to believe this won't bounce back. And I'm not at all. We still have to see how all this works out.

[Glenn Beck]

9 minutes and 38 seconds away from the opening bell. Go ahead.

[Stu Burguiere]

But I think it's reasonable to look at when Don Trump reelection and say to yourself, there were some things that went well and some things that didn't go well. And what I did expect was him to continue with the policies that went well. The areas like, for example, the economy. I think the economy went really well during his first term. And I thought we would get more of those policies and that similar approach. And then in something like the border.

[Glenn Beck]

Where he's doing something different this time, he's not just. He's not just.

[Stu Burguiere]

Well, that's what I'm saying.

[Glenn Beck]

I know, but he never, he never, he never gave any indication he was just going to rearrange the chairs at the same table again.

[Stu Burguiere]

Well, what he did last, he said we had the greatest economy we've had in a long time. And you could quibble with that back then, back in 2019, we did.

[Glenn Beck]

However, to get there, you can change the levers and make things work a little better, but you're still managing a decline until you stop the spending, until you change the fundamentals of how this economy works. You're just certainly.

[Stu Burguiere]

I don't remember ever hearing a speech of Donald Trump saying he was managing the client in 2019. No, that's not. No, no, that's not what he says.

[Glenn Beck]

I don't think he knew that. That's why I said in 2020 it was a blessing. I don't think he walked in. He didn't realize how deep this went, Stu. We didn't realize. When, when did we find out about The Great Reset? 2020. That's when we found out about the Great Reset. I mean, nobody knew that this is really. We didn't know how deep this was.

[Stu Burguiere]

It's just hard to, I mean, look again. He did hit these things. I'm not trying to, but, like, if the cure to the Great Reset is, you know, Richard Trumka's policy platform for the last 30 years, it's shocking to.

[Glenn Beck]

I think that's unfair. I think that's unfair.

[Stu Burguiere]

I mean, it's the same tariffs the guy's been calling for forever.

[Glenn Beck]

Yeah, but that's, that's not all that he's calling for.

[Stu Burguiere]

Certainly not. And hang on just a second.

[Glenn Beck]

Seven minutes and 37 seconds away. Panic, everyone. By the time this program ends, another family farm in America will have closed its doors, maybe for good. Wow. By time today, this program is over. It's dangerous. Every farm or ranch we lose is another piece of what makes this country special. And that goes away. Things like hard work, independence, real food coming from actual farms that are owned by actual people, not just corporations. And those things are slipping away from us. It is time to spring into action and change things. For generations, American farmers have been waking up before the sun, working long until after it sets. So you can have food on your table and I can have food. So now maybe it's time for us to show up for them. This is where Good Ranchers comes in. They deliver high quality American raised meat straight to your door. When I say American raised, I mean every bite you take right now, you can get free bacon, ground feed, ground beef seed, free oil, chicken nuggets and salmon, all for a year. $40 off when you use the promo code Glenn at checkout. All you have to do is go to good ranchers.com, subscribe, get your choice of protein for a year. You're gonna love the choices. All great stuff from America. Goodranchers.com American meat delivered. Now back to the podcast. This is the best of the Glenn Beck program and we really want to thank you for listening. Welcome to the Glenn Beck Program. We have an update. The market bounced back after it was released in the news that Donald Trump may consider a 90 day pause. And then we were watching it bounce back and then all of a sudden it dropped back down again and it, I don't know, lost maybe 200 points.

[Stu Burguiere]

Yeah.

[Glenn Beck]

Not sure what happened until we checked the news.

[Stu Burguiere]

It seems like all these media organizations reported an interpretation from some social media user of an interview in which the interview was.

[Glenn Beck]

Wait, wait, I just want to track that back down. Okay, I have an interview with Trump.

[Stu Burguiere]

No, no, no, that's a good question. The interview was with Trump official.

[Glenn Beck]

The Trump official. Unnamed Trump official or Trump official official who is. So we got. We have Trump and then we have the Trump official. And then it's a, it's somebody on social media doing an analysis of what that Trump official said.

[Stu Burguiere]

Yeah, right, right.

[Glenn Beck]

So then the media picks up on that.

[Stu Burguiere]

So they're quoting National Economic Council director Kevin Hassett.

[Glenn Beck]

Yeah.

[Stu Burguiere]

Okay. Basically all he said was like, look, I think the. He was asked by Brian Kilmeade would Trump consider a 90 day pause? And has it said, I think the President's gonna decide what the president is gonna decide.

[Glenn Beck]

Well, that means yes, he's gonna consider a 90 day.

[Stu Burguiere]

It's incredible.

[Glenn Beck]

That's how. That's where that story. We just gave it to you like four minutes ago. We go off the air and go into the commercial break and then it's all reversed and the stock market goes down. I think we should probably slow down a little bit. Yeah.

[Stu Burguiere]

And again, this is no way to rent. The only reason Life, we even brought it up is to discuss why the market moved. And it was why the market moved. So it's an appropriate explanation, I think. But now the White House breaking.

[Glenn Beck]

White House now just says 90 day pause is fake news.

[Stu Burguiere]

Fake news. So it's not. There's no pause. And so now the market's down again. You know, I will say this, Glenn, and I don't know what you think about this as far as politics go again, taking out of where we end up on all of this. We'd have really bad economic times before. Right, Covid. Housing crisis In 08, the bursting of the bubble of the Internet back in 2000, and you go back to 87, that market crash. All those things. All of those though, came from what seemed like an outside event. Right. Like to the American people.

[Glenn Beck]

Yes.

[Stu Burguiere]

Seemed like you had talked about the housing policies and what led to the housing crisis for years before that and warned about it for years. So there were policies that were directly associated with that, but that's not how the American people took that. It felt like it was like, oh, gosh, the housing market just crashed. Right. Covid just happened this one, I think to the American people, right or wrong, is going to feel like tariffs caused this.

[Glenn Beck]

Okay.

[Stu Burguiere]

And I'm worried about how they interpret that.

[Glenn Beck]

Let me help you out on that. That's because people did not interpret the stock market. And what's going on in our economy is bogus.

[Stu Burguiere]

Yes, you're right. I think you're Right.

[Glenn Beck]

It's all this bogus money that the Fed keeps printing and putting into the system with zero percent interest rates. It's all funny money. The stock market is no longer tied to anything real. And everybody, everybody just bypassed that and went, wow, things are really good. Things are really good. No, no, no. It was all bogus. All of that is bogus.

[Stu Burguiere]

I think they sense the weakness, though, during Biden. Right. Like the market went up at times with Biden, but they sensed the weakness. They sensed it in other parts of the economy.

[Glenn Beck]

Correct.

[Stu Burguiere]

I think the optimism for Trump's policies launched into another stratosphere.

[Glenn Beck]

But that is our McDonald's attitude. That is, yeah, I'd like some tariffs and Diet Coke. I mean, no, it's not a drive through. You're not going to get it by the time you get up to the window.

[Stu Burguiere]

But I think that, that is the, that's the point I'm bringing up, which is I think that's how a lot of people consume things.

[Glenn Beck]

Correct.

[Stu Burguiere]

And I don't think that's going to happen.

[Glenn Beck]

Look at what just happened. Stock market, the stock market, people who are supposedly, you know, educated, they turn that thing on a dime.

[Stu Burguiere]

But that's people who are really engaged. Right. And they're overreacting to news that they're seeing. The average person is not even following this on a day to day basis. All they're seeing is the, they're seeing that general downturn and if that continues with them, I wonder if this is going to be seen. If this turns into a recession, which it's not yet, but if it turns into a long term negative consequences, it could be seen as essentially Trump's fault, which means that the entire movement has problems as opposed to, like Covid. What people saw was, okay, China released this virus or it started in China, it took over everything.

[Glenn Beck]

No, they blamed it on Trump because the media did.

[Stu Burguiere]

I don't think he took, I mean, I think he won in 2024 because of what people remembered from his economy in 2019.

[Glenn Beck]

Yes, right.

[Stu Burguiere]

But when it comes to 2020 is some outside thing he couldn't do anything about.

[Glenn Beck]

Why did he lose that? Well, the economy was doing really, really well. Why did he lose? They blamed him on, on some stuff. Yeah, yeah. For Covid shutting us down, blah, blah, blah. You know, the stuff that he did that made sense at the very, you know, the very beginning.

[Stu Burguiere]

Yeah, I remember that being more broad an argument than. It wasn't. No one thought it was Trump's fault that the economy crashed because of COVID you can blame him and say, hey, I don't think he should have locked down. I don't think, you know, again, he didn't really do that.

[Glenn Beck]

Democrats ran on that. Look at what he's done to the economy.

[Stu Burguiere]

Right.

[Glenn Beck]

And they won. And they won.

[Stu Burguiere]

They did win. Yeah, they did win.

[Glenn Beck]

So I think it's just. I mean, I think that's just the. The ill informed again. And that's. I mean, let me. Let me give you the survey. You ready for the survey?

[Stu Burguiere]

Yeah, yeah. Give it to me. Hit me with it. Hit me with it.

[Glenn Beck]

Out of out of 50 men, if you ask him, in 100 meter sprint, can you beat a horse? How many say yes?

[Stu Burguiere]

How many say yes? They can beat a horse.

[Glenn Beck]

Beat a horse.

[Stu Burguiere]

Is it a specific horse? Could it be a horse that's dead?

[Glenn Beck]

No, no, just a horse. Generally regular horse.

[Stu Burguiere]

So we assume a normal horse running on a normal speed. Not necessarily a racehorse. Just a normal horse.

[Glenn Beck]

Just a horse. I can outrun a horse.

[Stu Burguiere]

The correct answer to this would be zero.

[Glenn Beck]

Zero. Right. Zero should.

[Stu Burguiere]

That's what it should be.

[Glenn Beck]

Because, you know, a racehorse can run 40 miles an hour. Don't know if you know this. You can't. Okay. Usain Bolt, he's the fastest in a sprint.

[Stu Burguiere]

Yeah.

[Glenn Beck]

27 miles an hour. Right. Okay. Horse a little faster. Okay, so only 2% out of 50. Okay. So not.

[Stu Burguiere]

That's actually not that bad. I mean, 2% will say anything.

[Glenn Beck]

That's the.

[Stu Burguiere]

Right.

[Glenn Beck]

That's the. That's the one they say. That is number 15 on the big charts of animals I could beat.

[Stu Burguiere]

Okay.

[Glenn Beck]

Okay, number 15. Then you get to a zebra. Okay. I'm gonna just pass that off on. Maybe you don't think zebras actually exist. You know, we have none here it is strange. Deer. I could outrun a deer. A fox, an ostrich. Okay, number 10. I can outrun a cheetah.

[Stu Burguiere]

A cheetah would be the one I would think would be the lowest number.

[Glenn Beck]

Be the lowest number.

[Stu Burguiere]

Because the fastest animal. Yeah, right.

[Glenn Beck]

A kangaroo among goose. I don't even know what a mongoose is. So I'm gonna give that one a pat. Ready for this one? I can outrun a swarm of bees.

[Stu Burguiere]

I mean. No, he can't. Not. Not for a long time.

[Glenn Beck]

No, no, I don't. I don't think you can. I don't think. Have you ever seen that they move. Why wouldn't just people just run? If the bees, when you're being swarmed, just run. They can't Keep up with you. You can't outrun bees. No, I can outrun a house cat.

[Stu Burguiere]

No, I mean, people have seen cats before. They're fast.

[Glenn Beck]

I can outrun a goat. I can outrun a rabbit.

[Stu Burguiere]

A goat. How fast are goats?

[Glenn Beck]

I don't have that stat. I don't have.

[Stu Burguiere]

Because I don't like. I don't every. All these other ones seem completely absurd. When I see a. I'm thinking of a goat. They're kind of like climbing the side of a mountain, you know? I don't know. They don't look that fast. They probably take them.

[Glenn Beck]

So would you say.

[Stu Burguiere]

Yes, I could outrun close to my area.

[Glenn Beck]

Really? Really. Okay.

[Stu Burguiere]

I don't know.

[Glenn Beck]

A goat, a rabbit?

[Stu Burguiere]

No, rabbits are incredibly fast.

[Glenn Beck]

A hippopotamus.

[Stu Burguiere]

I mean, a hippo. I again, oh, my gosh. I've never raced a hippo myself, but I. You know, like, a hippo doesn't seem like a fast animal. They're moving pretty slow.

[Glenn Beck]

Is it. Is that the hippopotamus or the rhinoceros? One of those. The most deadly animal alive. Really. They're fast and they'll stomp you to death.

[Stu Burguiere]

It was mosquitoes.

[Glenn Beck]

What?

[Stu Burguiere]

Right, mosquitoes. The most deadly personal.

[Glenn Beck]

I can outrun a mosquito. Number two.

[Stu Burguiere]

Why don't we tell that to the African nations? Like, that's. Tell your people to outrun the mosquito.

[Glenn Beck]

Why don't you run number two? I can outrun an elephant. Yeah.

[Stu Burguiere]

See, like an elephant doesn't look like it moves quickly, but the strides are large. You have to factor that in.

[Glenn Beck]

I don't have to factor that in. I just know I can't outrun an elephant. They're fast animals, but the. I mean, they're an animal. They're a giant animal.

[Stu Burguiere]

So are we for all animals?

[Glenn Beck]

Yeah. Not fast.

[Stu Burguiere]

I. Look, I can. I'm not saying I would. I would say that I could outrun an elephant, but I could understand why someone might say that.

[Glenn Beck]

Why do you think we invented the gun? Why do you think men invented the gun? We couldn't outrun any of these animals.

[Stu Burguiere]

It's a good point.

[Glenn Beck]

Okay. That's the only reason why we're at the top of the food chain is because we're like, oh, really? Take that elephant. Yes. I mean, that's. I can outrun an elephant. Yes. If I have a rifle, I will do that.

[Stu Burguiere]

Because then it'll be dead and you can walk it away from it.

[Glenn Beck]

Okay, so we don't. We have a pretty healthy. We have a pretty healthy view of ourself. 10% say that they have actually. Sorry. 28% say they have actually been out in the wilds someplace and clocked an animal and thought to themselves, I can outrun that. A tenth of them have actually tried to do that. I don't know, got out of their car. I was like, come on, horse, Bring it on. And 11%. Now, out of those showdowns mainly with dogs, 61% have tried to, you know, race their dog. 26% have tried to race their cat. I don't. I mean, you're like, how would you.

[Stu Burguiere]

Even do such a thing?

[Glenn Beck]

19% have tried to race a goat. Okay, but 60%. Only 60% say, yeah, I. I couldn't. I couldn't out. I couldn't. 26% considered themselves winners. And here's my favorite. 14 said it was a draw. It was a draw. I mean, I think we both. I talked to the goat afterwards, and I'm like, you agree, right? I mean, we finished. I mean, basically, we're at the same place, right? And you have four legs, so, you know, you might have run double the distance, but you have double the legs. So we're a draw, right? Oh, my gosh. I think we're. I think we're in. In trouble. 18% say they would back themselves to beat. Beat somebody in an arm wrestling match. Only 11% of women. Why? Wait, why. Why would only 11% of women. Women are no different than men. Wait, why? Hold on just a second. Oh, it's ego, probably. It's mansplaining that 26% of men say, I could beat anybody in a wrestling match and only 11% of women. It's probably because of what men have said to women, that you're not strong enough to be. To beat a big strong guy. Right. Because we all know that could happen. 72% of all respondents admitted men are more likely to believe that they could be animal than. Than, Than. Than women. My favorite is, sure, I can outrun a horse, I can outrun a cheetah. But Some, some people, one in 50 believe they can outswim a dolphin.

[Stu Burguiere]

Wow.

[Glenn Beck]

Aha. Don't know if you know this. They're in the water. That's their domain. You know, Now I could outrun a dolphin. You put one on the beach, I'll beat him every single time. Outswim them. I don't know. I don't. I. I don't think you should probably. You get a nap in. Get a nap in. Let's readdress this. Maybe tomorrow you're streaming the best of the Glenn Beck program. And you can find full episodes wherever you download podcasts. Carol Roth. How are you, Carol?

[Carol Roth]

You know, Glenn, I told you several times that this year was probably going to be a historic year. And we probably see things that we haven't seen before. You can imagine. And unfortunately I'm, I'm, I'm living in, in the middle of all of that right now.

[Glenn Beck]

It's a little surreal today. I mean, I think maybe we should stop panicking just a little bit. I mean, it started with it's gonna be Black Monday. And then it, then we had this weird thing about an hour ago where it's released. Donald Trump is reconsidering the tariffs, putting a 90 day pause on it. Stock market zooms up and within a couple of minutes the announcement is made from the White House. No, that's not true. He never said that. And it falls back down. I don't know, things are happening a little fast. We should probably slow down just a bit maybe. Yeah.

[Carol Roth]

The challenge for me, Glenn, you know, when I think about the stock market, there's so many people who are worried directly about the stock market and I'm not as much directly worried about the day to day machinations. Old enough. I've lived through stock market declines. I know the stock market doesn't always go up. I've lived through corrections. I even, I think mentioned multiple months ago that I felt that the stock market was overvalued. I am not so much concerned about that because stocks go down. And like we saw, when good news happens, stocks are going to go back up again. That's not my concern at all. My concern are what I consider the butterfly effects. And butterfly effects, you know, is when a butterfly flaps, it swings and that makes, you know, kind of an air current. What happens downstream from that? There are two things that I'm very much worried about in terms of that. One is that if this happens over a long period of time, the stock market is actually a pretty major driver of tax receipts. And we've talked about this choreography and this math before that we have these crazy deficits. The Biden administration left us a horrible fiscal position. And the butterfly effect is that if we do not get enough receipts because of capital gains, because of consumer spending, you know, whatever it is, that not going to collect enough revenue into the government and that will actually end up exploding the deficit. So that is one of my big concerns. The second is the downstream effects on Main Street. Main street, as we know, has been beaten up for five years. We had the COVID policy. We had the supply chain disruption, we had the labor market disruption, we had historic inflation. They do not have the wherewithal to weather the machinations and the changes. You know, big companies, they have big balance sheets. They'll find a way to get through it. But the small companies that have been hanging on by a thread, that is an issue. And so when a, if they have the direct tariffs, and I have many clients and companies that have come to me that have direct tariffs, people who've taken, who've had, who import from overseas because they don't have another choice currently, who've seen containers that used to cost four figures, now costing, I'm not exaggerating this, six figures. And that's going to increase with the announcements from quote unquote Liberation Day or if you're not directly importing and consumers are pulling back because of the reverse wealth effect. Their 401ks are down. They're worried about the economy. That's also going to impact small business. So I think when we talk about the issues of Wall street, we really need to bring it home to Main street because that is the backbone of the economy.

[Glenn Beck]

So President Trump just, just tweeted a minute ago, you know, did you see this?

[Carol Roth]

No, please tell me.

[Glenn Beck]

Yeah, basically, come on guys, let's pull ourselves together. We're not these people. Stop panicking, stop panicking.

[Carol Roth]

Right, but how do you tell a small business who was expecting to pay $6,000 to bring in a container and now has to spend $150,000 to bring in a container, has beaten up for years, not to panic unless they're going to come out, if they're going to exempt small business from tariffs and find a way to return it to them. You know, this is not a panic because, you know, oh, there's a machination of stock market. This is, I'm going to have to fire people. I'm not going to be able to pay my bills. I may not have a company in a few months if this continues to go on. I feel like that's panic worthy. And I will note, Glenn, that the people who talked about government freedom during COVID that the government should not be creating barriers for companies are the same people who are cheerleading small businesses having barriers and saying, well, if we don't like the way you're doing business, you don't deserve to be in business. And it's starting to sound like a lot of people who are fans of Trump and we listen, we all want Trump to succeed, but there are some die hard fans who are starting to sound a lot like leftist Bernie Bros right now.

[Glenn Beck]

So I am against, you know, this. I've been against tariffs, always have been. However, I feel as though we, this is not a surprise to any of us, none of us, we knew he was going to do this. We also know that he is, he's actually gunning for the entire global system. You know what I mean? He's, I think the way, the reason why it's called Liberation Day, why he called it Liberation Day, is to reflect back to 1945, Liberation Day, when that war was over and we put that system into place that we've been using since 1945. 46. And it doesn't work anymore. Okay. And so he's reversing esg. He is going the opposite direction of the globalization, et cetera, et cetera. And I think he is, he's, he is churning absolutely everything. And I expected it to be ugly. He even said, well, I didn't say it would be ugly. He said it would be difficult. It'd be difficult. And I don't think he, I don't, I don't think people understood everything that he's taking on. And I feel as though I am nervous about the effects because I see it too. My friends, my friends who have small businesses, they buy anything and it, it's not like they're buying everything from China. They may have one part, but it's an important part or the only part they can get from that country. And they have long term contracts on it. So they, they're gonna have to buy that part whether they like it or not. And that's going to put them under. So I understand that, I really do. But I'm not sure this is a really long term thing. Do you. I think he's, I think he's playing chicken with the rest of the world.

[Carol Roth]

So here's the thing is that you said that Trump said this. Trump says lots of things and we've all known to take him seriously, but not literally.

[Glenn Beck]

Yes.

[Carol Roth]

So we all had an expectation that he would probably do something with tariffs. I think that what we didn't expect is that he would do it first. We thought that he would do deregulation, get, you know, some of the, the tax cuts made permanent, do some of those things to juice growth and then turn the intention. And so the fact that we didn't have that optimism streak extended before he attacked that, I think that was a surprise. I also think the scope, by the way, I think the scope was a mistake and they're Just living with it. Because they were supposed to be reciprocal tariffs. A reciprocal tariff would have been, hey, they're charging us 700% on rice. We're going to start charging 700% on, on rice, or they're charging us 20% on this. That would be one way to do reciprocal. You could also do a country wide, hey, they're charging us 6%, we'll charge them 6%. They didn't do that at all. They came up with some insane formula that was based on a trade deficit divided by imports that means absolutely nothing. And I think that, by the way, a lot of people are saying they think that that was a mistake and nobody checked the math on there and now they have to live with it. And I think that's the concern that had this been 10% across the board for everyone, had this been truly reciprocal, you would have a very different tenor. That all of a sudden we're putting 30 and 40 and 50% tariffs on countries and really escalating things. So I think that's an issue. And I also think the communication here needs a complete overhaul because there are a lot of different things that are being said that are in conflict with each other. And I'm with you. I really hope that this is an art of the deal, that this is, you know, a blunt, blunt hammer approach, which is not my approach. I would have done a cocktail party or something.

[Glenn Beck]

But a blunt hammer approach is a sledgehammer. There's nothing subtle about Donald Trump.

[Carol Roth]

He's a sledgehammer subtle about that. That's the way. But there are people who are making actual, like, ridiculous arguments that are in conflict with each other. You have some of his spokespeople out on TV saying things like, oh, we're going to raise a bunch of money and eliminate taxes at the same time, saying they're going to try to take down trade. Well, those things are in conflict with each other. We're going to raise a bunch of money, but we're also trying to bring back manufacturing. Well, those things are in conflict with each other. There are people like me thinking that this is probably a way to try to refinance the debt, but that's in conflict with some of these other things that he's doing. So everything is in conflict. And sure, if you leave all the options open, you can declare victory much more easily. But now you have everybody infighting because you have people who are actually arguing really bad policy is good.

[Glenn Beck]

Okay, so I again, and maybe I'm giving the President too much benefit of the doubt here. Too much room. But I don't think I am, because what he does is negotiate. And I know, because I know people who have been on his team, him, and they all say the same thing. You walk into a room with him, when he takes the room, he senses what's going on and he can move and pivot on a dime. What you do know is at the end, it will be good for the Trump Organization. Okay. And so I think that these all.

[Carol Roth]

Are Trump Organization or America.

[Glenn Beck]

No, no, no. I said negotiating with him, you know, in real estate deals. I think he is negotiating now for America. So I'm taking what he, how he negotiates for his company, and he's applying those same principles now for our country. And I think he cares about our country. And so he's walking into a room, and I think all those options are on the table. You're only going to get one, you're not going to get both. You're not going to get all these jobs and all this tax revenue coming in. You know what I mean? It's going to be one or the other. So the things that are incongruent here, I think, is the negotiating room. Let's see which one plays out which, which one. Which one are we going for?

[Carol Roth]

Yeah, but it's a little hard for the American people to palette a non strategy. Well, we're going to get something right. Like, we'll get some benefit out of it. I don't, I don't know which one, or if that's the, or if that's the plan and just communicated to people. And listen, if, if this ends in a week or a couple weeks, and especially if they're willing to pay back these small business owners for the huge amounts that they've had to spe of pocket, I'd say great. That was fantastic. But, you know, there are so many things that can get damaged in the meantime, and the longer it goes on.

[Glenn Beck]

Yes.

[Carol Roth]

The more risk it is inherent. So I think there needs, I do.

[Glenn Beck]

Believe there, there's a shelf life of this. Yeah, I agree with you 100%. And I, I don't mean to be giving him too much leeway here. I think I'm being actually fair. I mean, I told the story last week of he's going in to sell the Plaza Hotel. Everybody. He's got Japanese people coming in. Everybody that is on his team, they're focused on the Plaza Hotel. Five minutes in, without saying anything to his team, he pivots and like, forget the Plaza. I want to talk to you about this and everybody on his team is freaking out like, we've got to sell the Plaza Hotel. What are you doing? But he said after the meeting, I knew I could tell they're not going to buy the Plaza, so I pivoted here. Instead of a wasted meeting, I sold them this. And I don't think that's wrong to give him the benefit of the doubt because that's the way he shoots from the hip.

[Carol Roth]

That I hear, I hear. Let me just, let's just take a step back on central planning though for a second. And, and yes, and we're, again, we're all on his side, we're all rooting for him. We're just discussing if this is the best tactic. The issue is the central planning, even him sort of being able to do this. What happens, Glenn, if you know this, even if it doesn't turn out badly. But let's say whether it's four years, eight years, 12 years down the road, we get in a new administration and they wanna do things completely differently. They say, well, that was the Trump way and we don't like it. And now we're gonna say xyz. And now every business now needs to go enroll and change. Businesses cannot operate like this. Businesses have already decoupled from China cuz we were told China bad. And now they're getting punished again. So, so it's very challenging when we have a government that has that much power. So then to put up these barriers. I would much rather do this with incentive.

[Glenn Beck]

I am, I am absolutely willing because I did this last week. I said this last week. You know who I have a problem with is Congress. This is Congress's territory. This is not the President's territory. The minute Congress wants to reclaim their, their duties and their power, I am all for it. I do not like the government giving more power, anybody giving more power to the administrat. No, no, no, no, no, no, no. But where the hell is Congress? Where the hell is Congress? They are, they are the ones that are making this giant hole. Congress should have said right at the very beginning, okay, well, hang on just a second. We're gonna pass tax cuts, we're gonna, we're gonna pass the regulation. You don't have to do that, sir. We're passing the REINS Act. That gets rid of half of the regulation already, maybe more than half. And, and that's our purview. But they're not doing it because nobody in Congress has the balls to do what Donald Trump does. That doesn't mean I like it. And it doesn't mean that I want somebody to, you know, continue this in the next administration. We're setting up some bad precedent, but it requires Congress to take their power back. So where is, where do you think Scott Bessen is, Carol?

[Carol Roth]

It's a really good question. He certainly has been on some of the shows and he has been sticking to the party line. And I think that that's one of the challenges when you're in an administration that has a lot of power at the top is that you have to know your place. And so, of course, he is not going to go against whatever the president's wishes are. There have been some rumblings that there are divisions kind of behind the scenes that, you know, Besant and Hassett want a little bit more of a focused and lower tariff approach and that, you know, Lutnick and Navarro are the ones that are really pushing on this. So I think that there is some internal conflict and we're seeing that play out. And unfortunately, I think at the end of the day, it's going to be Trump's call. I don't think any of them are gonna go against what the president.

[Glenn Beck]

So I have less now, less than a minute. But I have to ask you, this, I think is the best cabinet I've ever seen in my lifet time. And especially the people on the economic advisors, the people you just mentioned, all really, really accomplished and quite brilliant.

[Carol Roth]

Well, I'll say that I think some of them are very accomplished and brilliant and I think that maybe we don't have the same. But I'm not going to be the one who's going to, you know, go get into that on air. That can be a private conversation.

[Glenn Beck]

Okay. I mean, I don't care. If you want to get into it, we can get into it. I don't really care. But Carol, thank you very much. I appreciate it.