Are Stimulus & Federal Reserve Leading Us to Economic Ruin? | Glenn Beck | Politics | Rubin Report

from The Rubin Report

Dave Rubin of The Rubin Report talks to Glenn Beck (Author of “Arguing With Socialists”, Co-Founder of Blaze Media) about the financial problems that the US government has created in it’s response to the pandemic. Glenn discusses how the government enforced shutdown will destroy countless jobs and small businesses. He also shows how the stimulus bill and paycheck protection plan while being well intentioned, will actually leave many Americans worse off as more taxpayer funds are funneled away from people who need help. He goes into detail about how the Federal Reserve’s extreme response to the shutdown has the potential to damage the economy significantly. If the Federal Reserve’s purchase of Treasury bonds and municipal bonds continues at its current pace it will own all US public debt by September destroying the free market for bonds. Glenn explains what Modern Monetary Theory (MMT), the new economic theory endorsed by some progressive like Alexandria Ocasio-Cortez and liberal economists, is. According to Glenn, MMT is just a modern version of governments printing money to pay off their debts and obligations. He is deeply afraid that this kind of thinking will lead us to hyperinflation and economic ruin like it has for nations in the past. Glenn also shares his tactic from his book “Arguing With Socialists” for how to get socialists (or progressives and liberals) to hear your message. He thinks that most people with socialist leanings have been misled to believe that capitalism has created hardships in their life like the 2008 financial crisis. For the most part their concerns about real life problems are valid and only by sympathizing with their concerns and getting on the same page will they be able to hear solutions that are not just increasing the size and role of government.

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Glenn Beck
Co-Founder of Blaze Media, Author of “Arguing with Socialists”
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