Greeks, Europeans Revolt Against Socialist Tax & Spend Agendas, U.S. Next...
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    Greeks, Europeans Revolt Against Socialist Tax & Spend Agendas, U.S. Next...

    Greeks, Europeans Revolt Against Socialist Tax & Spend, Anti-Gun Agendas, U.S. Next...

    Glenn Beck - Thursday February 11th, 2010...

    " Been wrongly tell America. I -- tell you this week about. The different scenarios that are playing out -- one of them is really nasty it's happening in Europe. And I fear that it may happen here next we need to pay attention to what's happening in Europe and and learn. From the mistakes because we're making the exact same mistakes they made in places like Greece who -- racked up debt. Gutsy -- the sounds familiar racked up debt got into bed with the unions have critics exploding and bloated government. And -- racks up 12%. Deficit. Let's not too much like us because you'll Syria -- as it is is only nine point nine. Then Spain tried the green jobs thing that and -- live bush and work out -- Brisbane they know only have 90% unemployment. They learn the lesson that will soon learn if we don't stop on this path you lose two jobs for every one green job created. Can we just let entrepreneurs create jobs. But the biggest mistake that they have all made. Is -- all of these countries. The politicians lied to the people the entire time. Even now they're in denial officials -- the major rating agencies last week downplayed the risk of debt crisis saying that the nations like Greece this in this is -- you bureau over Greece. And they said this nation don't worry."

    " It's got enough in reserve to hold off a collapse for months. Well -- is that far off let's go to Disney World. The arrogance. Of these governments and the rating agencies as saying -- don't worry about area William by a few extra months the arrogance to think that that's gonna make people happy. The politicians the government's the global agenda is they have all. Stole -- the future of the children in Greece the freedom and Ireland the freedom here. I mean what happens when it all breaks down I said before. And last year I've been harping on this a lot everything you know everything you think you can trust is about to change the paradigm. Is changing. Is this the beginning how bad -- get. If you're comes crashing down what happens to us. How do people who have been lied to who have had their children's future stolen. How do they react. In the next -- Shia -- not here but I have assembled a group of experts and I want you to ask yourself. Which she is the most likely scenario. Everything is fine. Second scenario we're headed for a depression in Europe and the rest of the world will be hit hard but we'll get through it and things will remain the way they've always been. Or have been for the last hundred years. Or. Revolution. Insurrection. That's of the Communists are calling it over in Europe but coming insurrection. It is imperative that you look beyond the headlines and you see what is coming in Europe and how it plays out because. I think Europe is ahead of us and the same exact seeds have been planted here in. America I ask you tonight look to the future of Greece and of Europe so we may prevent it from being our future as well. Neal Ferguson he is a professor of Harvard a professor of history at Harvard. And the offer of the author of the -- of money Damon Vickers chief investment officer at nine points capital partners. His fund -- some 63%. In 2008. And -- and already he is the senior editor at reason magazine and reason dot com -- the author of a great book radicals. For capitalism. Okay. I guess let me start here and and let me start -- with the U. -- on the and let the American people -- on how bad things are in Greece. What is it like."

    " Injuries. Well we kind of assumed that these countries like Greece and you can add in Portugal and Holland and Spain that's why we use the Akron and pigs because they are. In pretty much the same substance that you'll find most pigs they have spotting unemployment. Rocketing deficits on the markets no longer believe -- politicians can possibly pay off the debt but they've racked up. Before and during the economic crisis. I just as some of -- predicted no senate that they tried to start balancing the budget and the brits have got together deficit down from 13% to 3% in three years. That of course the public sector workers went on strike into to a state so we've got we've got people in the streets of Athens today and I should imagine tomorrow to the -- gonna grind to a halt. And that their only hope when he is that there are old friends and Germans will bail the night that is not a Greece's economic policy hand out from Germany."

    " Okay so now -- if I'm not mistaken in just seeing things that I've I've read in the paper here recently. -- and the people that are in the streets now. Our. And the labor unions because they have. That Greece has expanded to the role of government there are so many government workers now that the unions are saying no. We didn't make the mistake. The government officials the politicians lied to the people why should our employees take the hit for this. Right and so they won't take any cuts."

    " They don't wanna take the cuts I mean I mean I I think momentarily we're gonna -- cars being turned over and fires in the eastern -- fires in the streets and it looks like. Like a potential. Looks like a potential revolution. Beginning and we were."

    " We -- talking before we went on the air and I said it -- and Aliyev -- Tony your thought on this and and -- talk to you about this as well so let me start here and then we'll go around. Before we went on I talk to you about the coming insurrection book that is he is from Europe. It's Communist they say hey we've had we were going for the socialist utopia. You politicians lied to us that they basically got in bed with the Nancy -- if you will lovely of Europe. And said you promised us that we're gonna have this socialist utopia you won't do it. There are bailing themselves now is real Communists and saying then we'll do it and that's the coming insurrection. When I told you this story you said you're driving in the car here but that's money that gap and you're writing down those things -- came to your head in what happened."

    " Yeah I mean you do -- you do an interview like this and and doing interviews with news is our our kind of intense. -- I'm trying to condense you know really what's going on in the world you know we're all trying to figure out what's going on in your -- this -- in the United States where. We are things likely unfolding we're may -- we had. And if you get a disintegration of all the systems in the checks and balances and now the the unions uprising because they're not getting enough Denny's and increases at 10% of the whole. 10% of the whole population. Works for the government. I mean it's cool wouldn't have a revolution against this giant. Rumor of an enterprise that is sucking the life out of out of the economy. 13 of the people don't -- don't opted to pay income taxes increase. The average family pays 2500 dollars a year in -- it's just to get things done. And there's a break in the trust between the citizen and the government. And so that governments can keep lying westernized governments keep lying to their citizenry is around the world. And this this developing under arrest in the bankers in the Wall Street in the mortgages and people getting squeezed more and more and here comes the -- security programs announced by Greece yesterday. That they're gonna hike taxes. At the same time they're gonna freeze wages. If you're a Greek citizen right now you've got to be just."

    " So Brian what is that we reversal do you agree or did agree or disagree with the idea that. There's civil massive civil unrest headed away. He should have -- in Europe yeah I mean the great -- my love -- have a tendency to rotate through the streets and very violent ways. A when they're upset in the way that we in the US don't do well I mean I guess why -- the left the kids to read books like that book becoming -- The European dream -- like get a not very well paying government public sector union job. Hold on -- for dear life living in a country that's like 36% less productive than America. Horror I mean I've got a lot of Neitzel buildings but it is a pretty grim situation over Europe of your young person I understand why the thought of bringing the whole system down -- have its ears start to -- attractive. But I don't think -- go that way because what we're seeing what was now is the end of the socialist dream the end of the dream that government can spend and spend a borrowing borrowing nothing bad will happen Fella. I think the next step when we go through whatever difficult have to go through with actually gonna be more freedom -- more socialism despite --"

    " You're my message planet is that that pigs are -- in other words we very quickly could find ourselves in the some of the situation. To Greece. I looked the other day at some International Monetary Fund dates -- which startled me because I realized that in fact the United States is that almost as bad a fiscal position is -- hardly any difference when you actually look. What the US would have to do to bring its budget. Back into balance but I think what you get hit is not a swing to the left one of the things that differentiates the US from -- is that when things go wrong. Populism he -- takes a completely different form. People feel more individualistic they feel more resentful of big government and I think what was sitting at the moment is the beginning of a big populist backlash but it's early days because I think put for for the time being it will seem to be -- European crisis may before months. Investors are gonna say to heck with the pigs I'll put my money in the US the dollar will probably rally and everybody -- gonna relax and that's the -- thing. To think that this isn't gonna ultimately catch up -- the United States you know if you look at the Congressional Budget Office -- the United States is never again going to run a balanced budget not I mean beyond our lifetimes. Every year there's gonna be a trillion dollars in new debt. Now that game can come to an end very quickly indeed what investors look at the map and they say with a second a debt to GDP ratio -- 100%. In 32. That can't be right and we get that we get the same treatment the pigs are getting out so my -- pigs are often is not that better all can. That in Portugal Greece Spain and -- and."

    " It can somebody explain. The there's this I keep reading about this magic number of 90% debt to GDP. That there is this this this magic number that once you cross were at 84%. The alleged you want to -- we're gonna hit 90% once you get 90% there's some. Sort of -- I don't know mathematical equation is a sound from -- I've read about it over and over again. -- what is it."

    " I mean a -- lot of numbers that simply we don't know because very deep dark hole of a unknown. Unknown account. So so where we -- be up beyond all the -- the Japanese got I think that the -- before the markets took fright but we're not gonna get that far. I mean these numbers are in some ways rather arbitrage because what happens is all to do with the interest and -- debt. If you're paying 3.5 percent on the -- as the US is broadly speaking you could ratchet up quite a lot of debt. But if that's happened to the Greeks the -- say no wait a minute we'd rather have five point five or seven point 5% -- very quickly -- of that stuff to kill you. And that's what I'm most afraid of -- what worries me is that the cost of servicing this huge debt. Could suddenly spiked upwards. -- when that happened -- little stuff to consume a larger and larger share of the budget goes from 89%. Of total revenue. To 25% and then you -- in the kind of fiscal crisis that -- in your right now I think that could happen in the united that -- this year."

    " I know I an underdog -- questioned him and I have to ask you is there any doubt in anybody's mind here then that's going to happen I mean. These interest rates can't last it's going to go up."

    " I don't I don't think it the last because what what you've got globally is is right without I think -- speaking to very well. Is that there's a demand for capital real capital on a on a planetary basis on a global basis China has -- Asia has it. We don't we print money. And self deal. And so. If if countries need capital like reads like Portugal likes being like the US we have 200. Debt auctions per year. On the we all have to compete for capital so rates can't stay where they are right now he could see -- ratcheting. Up of interest rates which will. Could implode the bond market which would be the debt market where which we may be ultimately where this whole winds up if you can't -- What do you inevitably have to do. You've -- you've got to write it off."

    " All -- and then all you get a simultaneous write down of global debt under under under crisis okay."

    " The the the idea and and and Brian maybe you can. Help me -- this week we seem to be on every the west is doing the same thing. We if we have been while they were building the statue of liberty and painting. Washington crossing the Delaware over in Europe to tell Europeans being more like America. Our. The leader is our video -- acts we're going over to Germany and learning marks and ET and everything else. We haven't been a true. Free market a true free. Society. In over a hundred years nobody acts we can be it'll be more like Europe one -- like Europe right."

    " The other the global trend does seem to be that the entire west that this can end up this sort of static. -- growth. Boring you know -- dynamic place like Europe actually is now if you look at public sector union trends in the US. Versus Europe we are becoming more like them in a very alarming way and the most alarming way that we may end up being like Europe. Is right now in Europe we're seeing that people are no longer interested in buying the bonds of countries like Portugal and Greece. And we're releasing the Chinese -- a little -- interest in buying our bonds and then the whole game the whole game of what we're just gonna borrow borrow -- to spend and spend and spend over that's gonna be really unpleasant but I think what to the other end of his can be great event mining capital and that was being let the government the to a government to do with them can actually do want to entrepreneurs and people we're gonna build real -- for the world and."

    " About a like OpenId identity as hell now I think at that point what what what I see is increasingly. Look at Greece Greece is the cradle of western civilization. It's the cradle of democracy. I mean what's at stake here what's really at stake here is the whole notion of the democratic system. As it as it stands the westernized system that we've exported all over the planet. It's an instant if we handle him. Finally have a 110 years we haven't done we haven't done it we've hit under the Democrats for the Republicans and conservatives isn't -- and all dressed up."

    " But no it is all -- they have distorted it it's all -- progressive. Nightmare it's not it's not a true freedom but given freedom you tell me."

    " And and -- you're you're the guy who did the history of money you tell me what happened in 1920s. We talked about an earlier this week on the program. The government got out of -- way we had a depression. And it rocketed back up. -- in the 1920s."

    " the last time you could say that this was a pure free market system because all the programs. That we are familiar with today originated in the new deal in the 1930s. And of course Franklin Delano Roosevelt as an inspiration. For president of -- so we kind of getting. A new new deal which I don't think it's gonna help matters in the slightest the -- I don't think we get to that optimistic outcome that we've been imagining he has so easily. It's very painful indeed to get from a situation like this to a healthier free market situation you -- have to default on a large part of the death. Or you have to inflated away the radio on many other options opened a country that has debts that size -- none of those processes is pretty much fun. That's so I don't think we easily get to back to India the middle of of a true free market republic the problem is the politicians and this is -- one of you'll you'll things spent I see a consensus in congrats. Between Republican tax cuts as -- democratic spend us to run deficits for the rest of time that is the political consensus. That is a mirage in Washington I want and what to -- and -- In the -- to reform the US tax system to cut income tax but to introduce some other tax on consumption but might actually help to balance the budget. And simplify the whole system because right now it's just a massive poverty traps and -- distortions about the other -- the politicians just don't wanna touch are the entitlements which of bankrupting the country. Until those things that -- until there's a political leader. But has the courage to spell out to Americans we need to do this we need to reform our system with a -- but I'm afraid -- this -- dunhill. In the direction not just that but the European economics but of Latin American economics. --"

    " I I've never seen anything like this before in my life I've never seen I've watched America. -- and and talked to them I've been in radio since I was thirteen. I know I have a good sense of -- of America. I have never ever seen in my lifetime. The willingness. Of the average American to say. -- live like my grandparents did in the Great Depression. I will sacrifice. If -- promised that freedom will be at the other end for my children stop stealing it. -- of the future from my children. They know they're on -- the game they just need somebody to verify it for them and then they'll do the hard -- the question is when we get back."

    YouTube - Glenn Beck- February 11, 2010 (Part 1/4) - The Coming Insurrection

    Glenn Beck Program

    "The people never give up their liberties, but under some delusion." - Edmund Burke

  3. yeah man! saw this last night. we need to get the word out to everyone about this. i am copying and pasting this to many of my conservative friends.

    thanks for sharing,

    Armatissimi e liberissimi

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