Living and Dying By the Algorithm? - 7/27/18

The Blaze Radio Network

on demand.

Glenn back.

Well, you live by the algorithm, you die by the algorithm.

Facebook got straight up slaughtered yesterday.

By the time Wall Street closed, Facebook shares were down 19%,

wiping out $120 billion

of the company's value.

$120 billion.

To put that into perspective, that is almost four times the entire market capitalization of Twitter.

Wow.

This is the largest single-day wipeout in stock history.

Mark Zuckerberg himself lost over $15 billion yesterday.

Now, the official reason, and you're going to hear from business analysts, is the, you know, the media will just say, well, you know, this comes a day after executives forecast a year's lower profit margins due to Facebook's concerns over privacy and its role in the global news flow.

Yeah, yeah.

Well, that plays a little bit of a role.

Privacy concerns are definitely real.

You know, the Cambridge Analytica thing was a nightmare.

But the second part of the quote that I just read, where Facebook, you know, we're managing the role in the global news flow.

That is, I believe, the entire reason why people are beginning to bail on the company.

You know,

Facebook was valuable when you could go there and you could pick and choose the type of content that you wanted to see.

You could choose what was important to you.

I don't want Facebook choosing for me.

Facebook's algorithm has been destroying media companies lately, especially the smaller ones, and even more so, what a surprise, those that

lean conservative.

The Independent Journal Review, this was a conservative site that focused on millennials.

They had to lay off almost all of their employees back in February.

Why?

Because Facebook's algorithm was choking off their reach, and IGR is just one of the many that are struggling because of it.

All of us in conservative media have felt the algorithm change like nobody's business.

So now, why would Mark Zuckerberg and Facebook do this?

A, it hurts their business.

B, it hurts their own business model.

It's because it's the typical progressive mindset.

That's all this is.

Listen to this quote from Zuckerberg a few months ago when he focused, you know, where he laid out

their areas of concern in 2018.

He said, and I quote: We feel a responsibility to make sure our services aren't just fun to use, but also good for people's well-being.

Oh.

So we've studied this trend carefully by looking at the academic research and doing our own research with leading experts at universities.

Oh,

well, if you're going to the university people,

you know you're going to be on the right path.

This is the same progressives in Washington.

It is with progressives in Silicon Valley.

It's in the universities.

They are, you know, you are just too stupid.

I don't believe you should be able to make your own decisions.

I mean, you are.

You're one of the little people.

Sit back for a minute and let us in the university, you know, the educated egghead types.

We know what's best for you.

Are we too stupid to be able to pick the type of content that we feel is important?

You're too much of an idiot to decipher fake news from real news.

So, Facebook is going to be the gatekeeper.

You know, so you don't hurt yourself.

Don't run with those scissors.

I'm sorry, but that's not why I signed up for Facebook.

I don't need some progressive computer algorithm telling me the content that I should or should not be consuming.

I can do that on my own.

See, what the progressives never allow to happen is let the free market fix it.

Because it will.

It will.

The free market will fix it.

And if Facebook doesn't do it, somebody else will come up and they'll do it.

Why is it that Facebook is the only one with the control of the algorithm?

Why don't you have control of the algorithm?

I want to see more of this, less of that.

Why?

Well, because Facebook loses its control.

Oh,

I thought Facebook put you in control.

There is the problem.

Everybody is fed up being told what to do, what they should be watching, what they should be reading, what they should be saying,

who they should follow.

Someone soon is going to come along and provide the services that Facebook is denying.

The free market fixes these situations.

And yesterday, the free market fixed progressivism that was growing inside of Facebook.

It's Friday, July 27th.

This is the Glen Beck program.

You know,

it's really hard.

We played this beginning of this week, we played something from

Mark Zuckerberg, where he was doing an interview and he was talking about how he, he, you know,

they kept trying to say, you're the most powerful man in the world, blah, blah, blah.

And he kept saying, you know, no, I'm trying to empower others.

I'm trying to empower others.

But he's really, he's not.

But I do believe that that is his intent to empower others.

But he is sitting in a situation where he finds himself as the guy being blamed for all fake news and everything else.

Well, it's not his fault that there's fake news.

You know, we have to police ourself, but we're not willing to do it.

We're not willing to read more than just a headline.

If you're not willing to do more work than just read the headline, and because you agree with it,

because that headline makes you feel good,

you immediately Facebook post it, you share it with friends.

Well, that's how it spreads.

It's not Facebook's fault.

It's our fault because we're not fixing reason firmly in her seat.

We just want to destroy each other.

And so if you won't police yourself, then somebody else has to come in and police.

And boy, oh boy, progressives are all always ready to police.

But Mark Zuckerberg just, you know, on Monday was, you know, being thrown up against against the wall by the New York Times.

Well, why is it you won't ban people like Alex Jones?

Because who am I to silence the voice of Alex Jones?

That's not my decision.

My decision, my role, as he said, was to look at what's being spread.

And

if it is a lie,

Then our algorithm should kick in to make sure that doesn't go viral.

Okay, well, that's a good move, I guess.

However, I don't know if I trust your algorithm to know what is real and what isn't.

Because who are you?

Who on the conservative side is consulting you?

We know you have the Southern Poverty Law Center.

We know you have the ADL, but who do you have on a conservative side?

You know, you look at Lila Rose.

Twitter has been forcing and just shutting her down.

She's a pro-life activist.

Just shutting her down.

Blocking her every step of the way.

But they don't do that with Planned Parenthood.

You can't have the illusion of freedom

and

then be so blatantly obvious that there is no freedom.

That's what the internet is all about.

The internet is so big because it's free.

The

Facebook was so big because it allowed you to connect with who you wanted to and see the news you wanted to see.

It's not like that now.

It's not like that.

I mean, somebody is going to put you in charge again.

And if you are in charge, first thing they will say is, oh, well, this is just making it easy for the neo-Nazis

That's what they'll say.

I mean, think about how crazy it is, because this is what they've done.

You go to a website, you go to, you're on Facebook, and you go to the Blazed.

I want to get news from the Blaze.

You click like on the Blaze to get the news from the Blaze.

And then Facebook delivers to you like 5% of the things that the Blaze posts.

And it makes, you know, think about this in a radio sense.

If every day you're like, I want to go to my local station and listen to Glenn Beck on the air.

And every time you tuned in, only one out of 20 times, you actually got Glenn Beck.

The other 19, you got another show.

Like you specifically are choosing to get the information from these sources.

And Facebook is saying, yeah, but what we think is that you don't know what you want.

Stu, it is Cass Sunstein's nudge.

It's nudge.

It's progressivism.

I'm going to give you, yes, the fries are available.

I'm just going to make it a little more difficult for you to get to the fries.

That's what nudge is.

I'm going to put the fries in the back.

I'm not going to display them.

You can ask for them,

but if I put them in the very back, chances are you're going to go over the apples and over this, and you'll just be like, ah, it's too far to reach.

I'll just take this.

That's nudge.

Well, that is exactly what Facebook is doing.

I'd like the Glen Beck program, please.

Okay, well, you know, that's cute.

Hey, have you tried this?

Have you tried this?

Have you tried this?

Have you tried this?

Oh, here's your Glen Beck.

Hey, have you tried this?

Have you tried this?

Have you tried this?

Have you tried this?

Have you tried this?

Your life will be better if you try one of these other things.

Right.

No, I asked you.

I want this.

None of us would go into a store.

None of us would go into a store for anything that we felt was

vital.

It would, if, if we were going in for food or a restaurant and they hand us a menu and they say, what would you like?

And you say, you know what?

I'd like the T-bone.

Okay, well, you know, I tell you what, let's start with this.

First,

let's have some soup.

No, no, I just want the T-bone.

I don't want it.

Yeah, I know, I know, I know.

And we'll get to the steak.

Let's just have some soup and maybe a salad.

We would never put up with it.

We would walk out of that restaurant.

If we went into a store and we'd say, I want to buy that suit.

Okay, well, we're going to let you try that on.

But try this on.

Try this on.

Try this on.

Try this on.

You know, you really look good in this.

No, I want that suit yeah okay well we're gonna get to that we would never that suit store would go out of business that restaurant would go out of business all stores would go out of business that's what facebook is doing to us

now if you look at what the earnings were there is no reason on paper why Facebook had the day it did yesterday.

So this is all coming from someplace inside of the psyche of America that says Facebook is over.

Because I'm going to give you the numbers when we come back.

And when you look at the actual numbers on Wall Street, their earnings, there's no reason, no reason, no reason even for them to go down, let alone the biggest bloodbath in the history of Wall Street.

That's phenomenal.

Why?

When we come back.

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So how could Facebook have the largest bloodbath in the history of Wall Street yesterday when its earnings were fine?

I think it's because the collective gut knows something's not right and it's not going to last.

Here's actually what happened happened

on the earning call a couple of days ago when they have to announce all their earnings and compare them to the projections for the quarter.

So this is amazing to me.

They were projected to get $13.36 billion in revenue.

$13.36.

$3.6 billion.

What they turned out was $13.23 billion.

So they missed.

But I mean, I don't know.

I feel like you'd still think you had a healthy business if you had those numbers.

Yeah.

13.36, and instead they made 13.23.

Okay.

So

that's a significant thing, especially for a smaller business.

But I mean, they're pretty close to the estimates.

However, on top of that, you have to look at the earnings, the profits, right?

What did they spend to make that?

So they were projected to get profits of $1.72 per share.

Their actual profits were $1.74 per share.

So the profit went up.

So it means they disseeded estimates.

Right.

They didn't make the amount of money, but they made in profit more.

They were more efficient.

More efficient.

Yeah, exactly.

Now, the global daily users, they were projected $1.49 billion.

They got $1.47 billion.

In North America, they were projected $185.4 million.

They have $185 million.

Again,

this is not a catastrophic situation.

And then their

average revenue per user, obviously

probably the most important measure, right?

When you're looking at like the fundamentals of this company, if they're making money off of people, projected $5.95 per user, and they got $5.97 per user.

So they outdid themselves on profits and average revenue per user.

And then they missed a little bit on

the actual total revenue and some of the measures as far as actual daily users.

But none of these, you can say, okay, well, hang on, that's something I need to watch.

But it's certainly not something that you have a mass

fire sale on.

Is that a 2% drop number?

Maybe.

I mean, because these guys, a lot of times, will look at these things and say, well, they're not growing at these furious paces that they were.

It's not going to have 30% growth.

And they said they had a couple of lines, like there's some regulatory pressure.

in Europe

with all these privacy restrictions that have restrained growth a little bit there.

there were a couple of things that they said that were like, hey, we might not be growing by 45%.

We might be growing by 35%.

Like, again, these are little panics.

Can you imagine if you said, hey, by the way, your business is only going to grow by 35% instead of 45%.

Okay.

Okay.

All right.

Thank you.

Sign up for that one.

Yeah.

So, I mean,

I don't like Facebook.

I don't like the things that they do a lot of the time.

But it's, I feel, I think you're right in that it's a perception.

It's a perception becoming reality about Facebook.

Again, I don't think the fake news problem is their problem.

I think they made a mistake by taking ownership of it.

When you say, hey, yes, it's our fault.

We're the ones that are supposed to control whether people decide to share things that aren't true.

That is not your responsibility.

But now it is.

But now it is.

Now it is.

You've made it your responsibility.

And I don't think it's a good thing.

And

it's not something you can control.

Because once you have an algorithm to do something, the market is going to make it an algorithm to do something else.

I mean, they'll just find ways around.

That's the deal.

That's the problem.

That's why you have to have a moral society and a self-governed society because you're never going to be able to stop it all.

They'll find a way to do it.

And now Zuckerberg has made it his problem.

Oh, you know, it's our fault.

We should have done.

No.

No.

And you're putting people out of business and nobody is even talking about that.

Let me go to Wayne in Ohio.

You're a publisher of a local newspaper, Wayne?

Yes, I am the only media source in the county with a population of about 50,000 people.

And about 5,000 people have proactively reached out and liked my page, presumably because they want my content.

But when I publish something on Facebook, about 500 people will see it, and Facebook will offer me a chance to, quote-unquote, boost my post for $5

because they are holding my own readers hostage and straggling my content because they want me to pay to reach my own readers.

And that's the problem.

If I want to boost my reach, it shouldn't be with the people who said they want to see it.

I should be paying to boost my reach to a bigger audience.

Which is how it used to be.

Right.

And that's the way it should be.

It should be.

I mean, and another layer of this, and I don't know if

Wayne is on this bandwagon or not, but I mean, a lot lot of these companies that are publishers paid Facebook millions of dollars to get access to the people in the first place.

So they paid Facebook to build a large audience.

And after they gave the money to Facebook, Facebook said you no longer can reach that audience.

I don't know how that's on a gigantic scandal.

Yeah, it's bad.

It's bad.

Wayne,

good luck.

Good luck.

God bless.

Thanks.

This is the Glenn Beck program.

You, as a member of this audience, have

really you have done more than

any other organization and in some ways more than many governments have done

for the refugees of the Middle East and those people who were targeted by ISIS.

And you continue to do so as part of our Nazarene Fund project with Mercury One.

I'm going to tell you about a

a really,

we need your prayers on something,

an operation that we're about to start, and we really need your prayers.

And one person in particular over in the Middle East really needs your prayers.

I'll tell you about that here in a second.

But I want to introduce you to somebody that you actually helped.

He is the only person that we could get into the United States as a Syrian refugee.

The only one.

You know, Australia and

lots of other countries took lots of people, thousands of people through Mercury One.

America would only take one, and his name is Dr.

Tony Al-Houri,

and he is a Syrian refugee.

We got him in because he

had already been accepted at Harvard for his

doctorate or master's?

Master of Divinity.

Masters of Divinity.

He is over in Syria.

He is already a doctor of pharmacy,

And he's a straight-up guy who's now an intern this summer for Mercury One.

Welcome.

Thank you very much.

Thank you.

So

your

town was taken by ISIS again just this week.

And nobody talked about it.

And it was, it's a pretty big deal.

There was, what, 200 injured and over 200 killed?

Yeah, yeah.

Thank God it was not taken by ISIS, but there was a very big attack from ISIS.

It's still under the government.

But

this was the first attack from ISIS to the town, and it was very mind-blowing because the city was surrounded by

the Syrian army, by the

government forces, which are supposedly protecting your town.

Yes.

And nobody knows how these people could enter to the city and make all this terrifying explosions and all these stuff.

So it was it was very, very scary thing.

And yeah, as you said, there were more than 200 people killed and more than 200 people injured.

Did they kill the ISIS members?

We're told here in America that ISIS is over, and that's not true.

It's not true.

It's not true.

Yeah.

I mean,

we've seriously impacted them, but they still, I think, do you know, I think they have 6,000 square miles that they are still in charge of.

So it's still happening.

Yeah.

The problem with ISIS is they have cells and people everywhere, all over the where, all over the place in Syria.

And when we think they are done and nothing is scary anymore, we

get surprised by another attack.

So

it's disorganized.

organization and at the same time they have this organized stuff.

It's very weird.

And they go back into society, right?

So you don't know exactly you don't you're not sure your neighbor might all of a sudden he comes back and you're like oh hey have you been safe he might have been an isis member right exactly which has got to be terrifying it is terrifying how do you trust anybody

yeah

um

on the other hand the community in syria and especially sueda with with the the majority of people like as druz and as christians the support to each other probably helped a lot in

protecting the city for a long time.

But the problem with trust, the problem with people who came to the city without knowing anything about them, and suddenly it turns out to be a person from ISIS or a person from any other

bad group.

So

what did this audience...

the support of this audience mean

to you and to others around you?

I mean, it had to have felt like no one was listening

and you were all alone.

Yeah.

What does this mean for people like you?

For me, I am very thankful for the audience of the radio and for the people who are listening because because of them I am here today.

Small thing, I'm not a refugee and this is a good thing

for helping other refugees.

I came here by Mercury 1 to be on F visa as a student and I didn't apply for asylum because I wanted to be able to travel when I need to travel.

Although now I am very thankful again for Mercury One organization to approve my work sponsorship.

So we are now on a process of

sponsorship for me as an employee.

I will be working as spiritual case manager for Mercury One and I am so grateful and it's it's something from God as I got helped I need to help other so I'm very thankful for the audience for Mercury one for all the amazing help I got from

so I need your prayers because I feel that through this process I will be able to be part of Mercury one mission as a Middle Eastern person and this is a big thing this is huge I came here because I had heart to my people I had heart to my country and through Mercury one and through the mission you're doing

this is going to happen.

There's a woman I found out about yesterday.

Let me see if I have her age, but she's young.

And we are asking the audience for prayers.

And also, please, please,

if you can't even donate $10 a month to our Nazarene Fund, please do this.

Operations are still going on.

There is a woman that is in

really grave danger.

She is

still captive and a slave of ISIS.

She has now found herself pregnant.

And when we can tell you the whole story, it will be

pretty remarkable.

And we hope to be able to tell you that story

with her

free and in a safe place along with her unborn child.

But she is now pregnant.

And

word is she is trying to kill herself.

She can't handle it anymore.

And so we have

an operation that is undergoing, we're undergoing right now to try to get her out.

And we really need your prayers.

But we also would like you to join us and help us at mercury1.org and donate to the Nazarene Fund.

We had a pretty aggressive goal this year to raise an awful lot of money, and we're not even anywhere close to it.

And I'm afraid that Americans think that this is all over.

It's not.

And it's not.

And it's, it's, are you feeling, or the people that, you know, in Syria, are they feeling the effects yet or the fear of Iran?

Because if it's not,

if it's not ISIS, Iran is coming in and replacing them.

Yeah, but the situation is we are stuck between two terrible parties.

And a lot of people in Syria, to be honest,

when they think about the two options, ISIS is the big monster, is that terrifying thing.

So a lot of people, they would choose the

Iranian.

Yeah.

Even as Christians.

Yeah, because it's more political situation than religious situation.

They're not killing them because of their religion, but but because of their political views.

And now no one, all people are tired of politics and they want to practice their faith and their life and their school and their work.

And probably that this is not very scary under the other

big powers in the world, but absolutely it's still terrifying with ISIS.

ISIS is a big problem in the Middle East.

I'm so glad that you're here.

Thank you.

You're a remarkable, remarkable man.

What made you want to go from pharmaceuticals to divinity?

So in 2005, when I was in pharmacy school,

I was invited to a Christian conference.

And the theme of the conference was from Ezekiel, how God is looking for men and women who have hearts.

for their nations.

And I felt cold.

I felt that God is calling me for ministry.

And I didn't question it.

I'm not the person who is very comfortable in his life.

I have a lot of anxiety.

It's not something I usually accept in a,

but that day was something I was not skeptical about at all.

I felt that this is what God wants me to do in my life.

And I ended up in a theology school after 11 years of dreaming.

God made that dream happen.

And this was the big reason.

And then Mercury 1.

I feel that it was a puzzle from God and God was putting all the puzzles.

And now, as I shared before, I will be working to help my people, to help my country, to help the refugees all over the Middle East through Mercury One.

So God was preparing me and it's really great for me.

So I'm glad that you're here.

Thank you very much.

Thank you very much.

Thank you, Khan.

If you would like to help, please go to mercury1.org.

If you can donate $1 a month, $10 a month, whatever you can afford, please, this is still going on.

And even if you can't afford anything, the widow's might is

probably the most important.

And if that widow might is just prayers, I ask that you cover our forces in the Middle East

with prayers and pray for their safety.

We have already lost two people

trying to rescue these slaves from ISIS, and we don't want to lose any more.

And this particular story of this one girl who now is pregnant when you hear the whole story,

it will stay with you for the rest of your life.

Help us save her and those like her by going to mercury1.org/slash nazarene fund.

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You know, sometimes...

Have you ever watched the

series from HBO, John Adams?

You remember that?

I remember it.

I didn't actually see it, but everyone says it's really, really well done.

So you should watch it.

It's really good.

I think it's the second or third episode, John Adams goes to France, and

the difference between America and France at the time is just remarkable.

You know, this is the height of, you know, King Louis, and

everybody's wearing makeup, and,

you know, everybody's got the little

makeup mole on their face, and all the guys are hoity-toity, and they're having lavish meals.

And John Adams comes from America to there.

And I feel as though we've switched places.

I feel as though, in some ways, we're France at that time,

and other people from the rest of the world are coming here and pleading their case.

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media tells us matters.

And

when you think and stop to think about

this young girl

who has been a captive and has been passed around

and

made a prize of the chieftains

and raped repeatedly and now has an unborn child and cannot do it anymore.

Just can't do it anymore.

And how she must she doesn't know

that somebody is planning to go and save her right now.

She has no idea.

So she has no hope.

And she doesn't know anybody even knows her name or knows what's going on.

How alone she must feel.

And when you hear that,

I was on my way yesterday to do some recording for the audiobook for the new book that is coming out, Addicted Outrage.

And I was stopped in the hallway by Suzanne and Tony, that you just heard at Mercury One.

And they said, Glenn, we have to tell you about this young girl, and we need your audience to pray.

And if they can help us with donations, please ask them.

And they told me the story and just leaned up against the wall in the hallway as they

described what's going on.

President Trump is out in the Rose Garden right now, and he's talking about how manufacturing wages are expected to rise the highest rate in 17 years.

That African-American unemployment is at the lowest in history.

That

Hispanic unemployment is at the lowest in history.

There are so many good things that are happening in America, and we are only focused on the bad things.

And most of those things are ridiculous in the grand scheme of events of the day.

Thank you for caring.

Thank you for being who you are.

Help us at mercury1.org, the Nazarene Fund.

Glenn Beth.

The Associated Press today wants you to know, hey, don't be so tough on reporters because their job is like, like, I mean, like really, really difficult.

Yeah, yeah, construction workers, plumbers, waiters, you'd never understand.

This is difficult.

Being a reporter,

it's it's like having a really tough job.

You know what I mean?

It's not like working in a kitchen or something.

And lucky for us, the Associated Press has released an article titled, Mr.

President, the Loud, Rowdy, Even Rude Job of Reporting.

Details for us, you know, simpletons, just exactly how tough their lives are.

For one, sometimes when they scream, you know, demands the president, when they scream like that, you know, the leader of the free world, sometimes he like doesn't even answer.

Can you believe that?

That's how hard their job is.

Sometimes he won't even answer.

He like just ignores the reporters so he can, you know, deal with his like presidential duties or whatever he's doing.

I mean, talk about rude.

He doesn't even listen to them all the time.

Doesn't he realize how important the media is?

I mean, if it weren't for the media, there was no, there's, there would be no way.

that we would know the opinions of a highly elite, overly educated group of mostly leftist ideologues who actually believe that their opinion is factually,

you know, undoubtedly the truth and that everyone else is a total idiot whose backwards opinions led to the rise of Adolf Hitler.

So, I mean, what would we do?

What would we do?

On Wednesday,

White House aides banned CNN reporter Caitlin Collins for shouting questions to Trump that he did not like, setting off a national debate about how the press does its job.

Okay, that's what the, that is what the AP reported.

But they didn't ban her from the White House.

They banned her from a photo op, which I don't like.

Just leave it alone, Mr.

President.

You're bigger than this.

But it was one event.

Collins is still a White House correspondent.

And by the way, she was a White House correspondent for a conservative website called the Daily Caller before she joined CNN.

So it's not like she's a liberal hack.

At times, the AP article read like a

children's book on potty training.

Etiquette dictates that no questions are asked until the president makes any any remarks.

But that's where aligned interest and sometimes the dignity of the occasion ends.

Reporters can then ask any question on any topic.

Sometimes they shout to make sure the president can hear the question.

First of all, she wasn't shouting.

So I don't know where this shouting thing came from.

She wasn't shouting.

She was speaking loudly.

Others in the room were shouting.

But the AP is showing their true colors.

It's coordinated disdain for President Trump, who they referred to in this article multiple times as the former reality TV star.

Oh my God.

Really?

I mean, yes, he is a former reality TV star.

We got that.

But he also now happens to be presently the President of the United States.

Imagine if we would have referred to Obama as the former anti-gay rights pothead, Barack Obama.

We could have.

He was formerly a pothead, and he also formerly was anti-gay anti-gay rights

interestingly the article does shed a little insight into Obama's own tenuous relationship with the press a little bit although they do it with the same bootlicking in fact infatuation that they maintained while he was president but let let me take some of the bootlicking off the off the boots here here's a clip of Obama tossing a reporter Now, I want you to note how joyful the mostly liberal press reacts, followed by CNN's coverage of Collins, who has an arrogant look on her face the whole time.

Listen.

That's the press cheering you.

Come on.

You know what?

It's not respectful when you get invited to somebody.

You're not going to get a good response from me by interrupting me like this.

Dave, I'm sorry.

I'm sorry.

There's the press.

There's the press corps booing a member of the press corps.

No.

No.

No,

shame on you.

You shouldn't be doing this.

Can we escort this person out?

Okay.

Okay, so

now there are people that are not just Press Corps in that room, but the news media is there.

Did they chant Obama or did they not?

And more importantly, did they have a problem with somebody asking a question being thrown out?

Now,

here is what

here's the take of the AP.

After the president gets the images and audio he wants, the White House press aides seek to keep the president on message and will shout to the shouting reporters, hollering thank you, which keeps Trump from hearing questions in the first place.

The result is a lot of yelling, which can look and sound chaotic.

It's as if here they're trying to convince me that the footage we've seen of aggressive, snotty, elitist reporters over and over and over again is an illusion created by our middle American stupidity.

I'm sorry.

Associated Press, you are not a credible source when you repeatedly call him

a former reality TV show.

You have an unhealthy obsession, an unending fixation with the destruction of this president.

I stand for freedom of press, but you need to take on a little more responsibility for your actions as well.

It's Friday, July 27th.

This is the Glenn Beck program.

Bill O'Reilly, where do I have it wrong?

Oh,

where can I start, Ben?

Where shall I start?

Let's start with the Associated Press.

Your audience should know that from the inception of the Fox News Channel in 1996, the Associated Press tried to destroy it.

All right?

Every day, every way.

David Bowder, Frasier Moore, their TV people,

just absolutely, relentlessly tried to harm the network.

Why?

All right, so you can answer that question because you were there at Fox for a short period of time.

Secondly,

the

tradition of shouting questions is what made Sam Donaldson famous.

Yes.

Okay?

And he did that to Reagan, and then Reagan would put his hand up to his ear and go,

I don't know, I can't hear you.

I don't know who you are.

Well, he didn't always do it.

May I play a clip of Sam Donaldson?

Because Sam is one of the guys who really made this famous.

And listen how the president dealt with Sam Donaldson.

Go ahead and play that, please.

Sam Donaldson.

You have it, Sarah?

With Reagan.

Reagan?

Mr.

President, in talking about the continuing recession tonight, you have blamed mistakes of the past, and you blame the Congress.

Does any of the blame belong to you?

Yes, because for many years I was a Democrat.

I mean,

that's the way the president should deal with it.

Yeah, and Dan Rouder was the same way, and Bill O'Reilly was the same way.

I never covered the White House, but I was super aggressive as a reporter.

I don't remember ever yelling anything at anybody.

I would pick my spots, but I certainly can't say I was timid.

I don't think she was yelling.

Who, Caitlin?

Yes.

I don't think she was yelling.

You know what?

It really doesn't matter because what, and I can tell you this because I know this for a fact, because we investigated on BillO'Reilly.com last night.

What rankled the White House was that she was told there was not going to be any Q ⁇ A, yet continued to

be very aggressive and assertive in asking her questions to the president, who obviously didn't want to answer them and then would you have done differently

I probably

would have done it differently in her position in her position here's yes here's how I would have done it

I would have asked the question and when he did not answer the question and kept saying thank you as you pointed out then I would have said will there be a time mr.

president when you'll answer the questions about mr.

Cohen Michael Cohen that's what I would have done And therefore,

I wouldn't have come across, look,

this is the truth.

Anyone who likes President Trump or supports him in any way

despises CNN and Caitlin.

But she's not a CNN person.

She came from the Daily Caller.

No, I know, no, but she works for them now.

And as we pointed out last week, there is a culture at CNN that demands you be disrespectful to Donald Trump.

I talked to a CNN person this week, and I said, can you name one person on your network, one,

in a position of visibility, anchor, high-profile reporter, who's even moderate toward Donald Trump?

And it was silence.

There is not anyone, not one human being working for the corporation that is even moderate to the man.

So the culture is, get him.

And so Caitlin knows that's the culture.

And Caitlin has prospered in CNN from her display.

But for the American people, if you took a poll today, they would say she was out of line by probably 55, 45.

So, you know, the point is that the press has devoted itself to removing Donald Trump from office.

That's what they want to do, and they're not going to stop doing it.

And if they can embarrass him, that's points for them because that's the culture.

So

let me play one more clip for you.

I know you remember Helen Thomas.

Listen to this.

Play the Helen Thomas.

I'll ask you, Mr.

President,

your decision to invade Iraq has caused the deaths of thousands of Americans and Iraqis, wounds of Americans and Iraqis for a lifetime.

Every reason given, publicly at least, has turned out not to be true.

My question is, why did you really want to go to war from the moment you stepped into the White House, from your cabinet former cabinet officers, intelligent people, and so forth.

What was your real reason?

You have said it wasn't oil, plus the oil.

It hasn't been Israel or anything else.

What was it?

I think your premise, and all due respect to your question, and to you as a lifelong journalist, is that I didn't want war.

To assume I wanted war is just

flat wrong, Helen.

And all due respect.

Now, listen.

Hold on for a second, please.

Excuse me.

Excuse me.

No president wants war.

Okay,

here's somebody.

You remember Helen Thomas?

She was as slanted as they come.

Her whole thing was to take George W.

Bush apart.

And who did she work for?

She worked for CNN?

No, Associated Press.

She worked for the Associated Press.

Okay, so, but but

the point is,

She still worked.

She was still a member.

She was not,

you know, she was tolerated by the president.

And the president even spoke to her with respect.

Now, I personally think.

He was a different man.

Bush was different from Trump.

But there is something to be said for the office.

You don't, you know.

Oh, absolutely.

You know, that's why, you know, when

the CNN reporter yesterday was told that he's not going to answer any questions,

she should have backed off.

I don't mind the question being asked, but as I said, if you're not going to answer, just say what's going on.

Do you have a problem with, I mean, because, you know, we were there with James Rosen.

We saw what Obama did.

Obama was much worse to the press than this guy is.

And they didn't really say anything about it.

Only a couple of times did they kind of get upset about the way President Obama was treating the press.

I mean,

well, they loved Obama, though.

I mean, you know, we're almost stating the obvious to your audience and the American people.

The American media, generally speaking, is corrupt

and has been for decades.

Helen Thomas despised President Bush the Younger.

Sam Donaldson despised

Ronald Reagan.

I was in a Washington bureau when I was working for ABC when Sam Donaldson came storming in one day.

after a presidential press conference.

And he was screaming, mommy told him to say that.

Mommy told him not to answer my question.

So maybe we should interview mommy.

And he was talking about Nancy Reagan.

This is in front of the whole Washington Bureau at ABC.

I mean, he loathed, Donaldson loathed

Ronald Reagan.

And Rune Arledge, the president of ABC, loved it because he was of the show business.

Donaldson Donaldson is like Howard Cosell.

People are going to come to us to watch.

And that was the whole thing.

So if anybody,

anybody in this country believes that the media is fair and seeking the truth,

I mean, you know, you must be breathing.

And I don't think, that's not my point.

I don't believe they're seeking the truth either.

They have a ⁇ they shout about their rights, but they don't.

It's a culture.

And you're rewarded for being corrupt.

You're rewarded for trying trying to embarrass Donald Trump or George W.

Bush or Ronald Reagan.

You're rewarded for that.

I'm just, my point is, as the president of the United States

and a guy who they like to point out was a reality show guy,

find the better way.

Don't start kicking people out.

Go study Ronald Reagan.

Go.

I understand that.

But that's never going to happen.

Because Trump says, look, all of this energizes my base.

I know, I know.

All right, so

you're not going to do that.

I tell you this.

What Ronald Reagan just did to Sam Donaldson, the clip I just played.

Right.

It not only energizes his base, but it also makes others who are in the middle go and get him.

That was great.

That was brilliant.

It's a different time now.

It's a different time.

No, it's just a different guy.

Just a different guy.

All right.

Back with Bill O'Reilly here in just a second.

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So Bill O'Reilly from billo'reilly.com and also the author of the new book that's coming out September 18th, the same day my book is coming out, Killing the SS.

It is, Bill, I'm halfway through, and it is really good.

It's the best book you've written so far.

Thank you.

That's very kind of you to say that.

I appreciate it.

It's the only book I've read of yours, and

I've only read a chapter in the middle, but so far, that chapter in the middle.

What people don't know is that you have servants to read to you.

And you.

I will tell you, it's really fascinating.

Not what I expected at all,

but

just really fascinating.

Really fascinating.

When you get to the end, the end is just going to blow your mind.

The last chapter is an amazing exposition that nobody knows about.

So, Bill, let me see if I could get you to say one nice thing about the press.

Is there anything you can say?

And I have to be honest because I've taken a beating

from these people, so it's personal.

And, you know, I'm not asking people to believe me.

But I've been in this.

I think most people do, though.

I think most people believe you.

I hope so.

I mean, you know, we've prospered everywhere we've been for 45 years.

Yeah.

And that's how long I've been a journalist.

And in the beginning, when I went to Boston University for my master's in broadcast journalism, I did it because of Watergate and because I wanted to be an investigative reporter and look out for people.

But what has happened is that the money, the industry, has overcome all ethics, and the news organizations are corrupt.

I cannot read the New York Times.

Literally, I cannot read the newspaper because it is just to me a fiction.

They don't care about the truth.

They don't care about finding out what happened.

But, Bill, do you think it's just the media corporations, which I think hold a lot of responsibility?

But it is also now, you know, when you came out of journalism school, you weren't...

you weren't indoctrinated like you are now.

No, absolutely not.

And the college experience experience has fallen apart.

And I had a great guy on billoreilly.com yesterday discussing that, a professor from DePaul, a philosophy professor, saying that the universities are, it goes hand in hand.

Yeah, no, he's amazing.

So what we are now is a free country with a press that's corrupt.

Okay, back in just a second with Bill O'Reilly, going to talk a little bit about the effort to impeach the president and those in charge of the investigation of the president.

We'll do that next.

Hey, it's Glenn, and you're listening to the Glenn Beck program.

If you like what you're hearing on this show, make sure you check out Pat Gray Unleashed.

It's available wherever you download your favorite podcasts.

Welcome to the program.

Yesterday, I was talking to

Harvard Professor

Alan Dershowitz.

He was on the TV show last night at 5 o'clock, and we were talking a little bit about

the impeachment proceedings that

the Liberty Caucus wanted to put out, the Freedom Caucus.

And

they were going to impeach Rosenstein,

and then they backed away from it.

Now,

you know, his case was these were not impeachable offenses.

You don't do that.

His bigger point was this really weakens the hand of the president if Congress falls into the hands of the Democrats because he didn't do anything illegal.

And he said, if you impeachment has to be about legality, and if it's not, then you can file the papers against the president.

Do you agree with that, Bill?

Yeah.

I mean, I think if you diminish the original intent of impeachment by using it to punish a civil servant like Rod Rosenstein, who's obviously doing the wrong thing,

then that leaves the door open to punishing anybody you want, including the president, with

a mechanism that wasn't designed for that purpose.

But I like to cut through all the BS, and people don't even know who Rod Rosenstein is or why they're mad at him.

It all has to do, and it's very, very simple, with getting a warrant from a federal judge to surveil the campaign of Donald Trump.

That's what this is all about.

And we know enough now

to state factually that information brought to the judge, whoever that may be, the judge is still anonymous, by the FBI was fallacious, was false.

So they got a warrant under false pretenses.

That's a crime.

And

the congresspeople want to know exactly who put the false stuff in the application, who did it.

Wait, what's the false stuff?

I can see that they.

The false stuff is that the FBI was using rumor as fact.

Rumor about Donald Trump and his associates working with Russian people.

They were rumors, not facts, but they were presented to the federal judge as facts.

And the federal judge did not know that these rumors came from the Hillary Clinton campaign, were purchased by her and her people.

I would think that

I think it would be very easy to argue.

I'm with you, Bill, on this, but I just played the other side.

I think it would be very easy to argue that we didn't make up any facts.

They didn't lie.

You know,

we didn't tell them everything, but we didn't think we needed to.

Let's see it then.

Yeah, I know.

See your application.

That's what this is all about, that Rod Rosenstein and Jeff Sessions and Donald Trump

will not

put out what the application says and who signed off on it.

So, and this is the real problem, and I actually agree with

Meadows and the rest of his group.

When you have somebody in justice who is running

an investigation that Congress has oversight on and you subpoena, I mean, if you subpoena me, if Congress subpoenas me and I don't show up, I go to jail.

If

a court subpoenas me for a speeding thing, I go to jail if I don't show up.

This guy is not showing up.

He's not producing records.

Why isn't he in contempt of Congress at least?

Why aren't they just throwing him in jail on this?

Well,

you know, they never do that.

Number one, they very rarely back up their rhetoric with action.

They could cite him for contempt, but Holder was, the former attorney general cited for contempt as well.

I know.

On the Fast and Furious gun thing.

Right, but if it doesn't, if you don't ever back it, if you don't ever back it up, contempt means nothing.

Well, that's what Congress is,

you know, they don't back it up.

But if I'm President Trump, I order Rosenstein to put out the documents, give them to the congressional committee that subpoenaed them now.

Why aren't they?

If he says no, I fire him.

Why aren't they?

You know, it's speculation, Beck.

You want me to speculate?

Yeah, I do.

All right.

Because I don't like to do that.

It's a no-speculation zone.

The only thing that I can think of, and I don't have any information to back this up,

is that in the application to the federal judge to get the wiretap on the Trump campaign, the FBI cited a lot of seamy stuff, a lot of salacious stuff that they heard,

and that Trump doesn't want that

put out

to anybody.

And that's the only reason.

Different than what we've already heard?

I don't know that.

But there's no other reason on earth why the President of the United States wouldn't say, I want the people,

particularly Glenn Beck and Bill O'Reilly, to see

how corrupt this

wiretap warrant was.

Because I've seen this whole thing, that this is a bogus investigation.

It's a witch hunt.

It was based upon Hillary Clinton's purchasing

things that aren't true.

So if that's your thesis, and certainly that's the President's thesis, put out the document that can prove it.

Right.

We've, I mean, I have it sitting right here.

I have the 400-page

application for this wiretap right here.

And there is a ton that has been blacked out.

Yeah.

I mean, a ton, page after page after page after page.

But what I have seen backs up the president's story and backs up the

Republicans' memo.

But they haven't seen what's underneath the black bars, and we can't see what's underneath the black black bars.

And so

how are we ever going to get to the truth?

I don't know.

And I, you know, if the president doesn't want this out because it is

embarrassing, even though it isn't true, I mean, allegations are embarrassing, even if they're not true.

He could order, he's within his right, to keep that redacted,

to keep that stuff redacted.

But, you know,

we the people, the American people, have a right to know whether the FBI

used false information to get a wiretap on a presidential candidate.

I mean, that's pretty big, I would think.

I would think so, too.

Okay, so let's let's switch topics here.

Bill, can I ask about the Cohen situation?

The Trump team now says, which I something that I think is completely correct, that Michael Cohen is a pathological liar and should never be trusted.

I'm completely on board with that.

However,

through all the years they said he was a pathological liar, they themselves were telling us that

he was honest and honorable.

So is this just one of these situations that we shouldn't take anything at face value from what they're saying?

Everyone's trying to protect themselves at this point, and it's just.

Yeah, I mean, it's all chaos.

All I can tell you is this.

When President Trump was running for president, I

got a call from him about an issue that he was interested in that I had said on the O'Reilly factor.

And we discussed the issue and I said, hey, why don't you come on tonight?

He was a candidate at that time.

And we'll talk about it just like we're talking on the phone now.

And he goes, well, I can't do it.

I'm too busy.

Why don't you take Michael Cohen, my attorney?

And I laughed.

I said, I would never put him on the air in a million years.

This is how perspicacious I am, Stu.

Perspicacious.

Word of the day.

Yeah, good one.

In a million years, I said to him, I would never put him on the air.

And he goes, why?

Why?

Well, you know, he got upset.

I said, because he's your lawyer.

I don't trust a word he says.

I mean, why would I put him on the air and subject my audience to him?

Now, I don't know Michael Cohen.

I don't know anything about him.

But, you know, he's what they call in New York City an operator.

And that's not a phone operator.

It's like an operator.

It's like a mob attorney.

He's a guy that's, well, that's your word, not even the lawsuit comes, right?

He's a guy that's just around,

and everything he does is either to get money or to get fame.

And we all know who these people are.

I never use them.

And so all I can tell you is that

this guy feels that his life is falling apart because of Donald Trump, and now he's going to get Donald Trump.

He's going to say anything.

He's going to do anything.

And that's where it is.

Do you find it interesting, Bill, that the media, who has had the same opinion as you and I and Glenn over the years about Michael Cohen, suddenly finds him incredibly crazy.

Oh, he's deep throat.

He is

the savior of the Republic.

This man goes down beside Samuel Adams.

But wait a minute, let's reverse this.

The people who all said, oh, he's a saint, he's the greatest,

he is absolutely the best the president can find now we're like, that dirtbag.

Look how stupid he is.

He's recording phone calls.

But I really never heard anybody say that about Michael Coleman, even when he was in with the Trump people.

I mean, I never heard that.

So it's all crazy.

But you're at the media now.

He is

John the Baptist.

Does anything come of that, Bill?

Anything come of that?

You know, I don't think so.

I think it's all been discredited so much, the Mueller investigation including, that you'd have to have, you know, a tape of Putin and Trump on a Caribbean island going, we're going to get that Hillary, and you're going to help us, right?

That's right, Mr.

President.

You know, you'd have to have that tape to convince the American people.

Bill O'Reilly from BillO'reilly.com.

Thank you so much.

All right, guys.

Is it true that I heard the rumor that killing the SS comes out the same day as a dictionary to outrage?

Is that actually true?

No, we cannot.

We cannot be beaten by Bill O'Reilly.

We can't.

He will never let me hear the end of it.

No, he will torture you with that every time the rest of the time.

Well, back I will.

And if I'm number one, I guarantee you he'll he'll be like, eh, congratulations.

You know, it was whatever.

He will just totally downplay anything.

So please, you know, buy his book because it is really good.

But mine is coming out on the same day.

Addicted to Outrage.

Order it now.

In fact, order 100 copies of it right now.

You can do it at amazon.com.

It's

the longest book I think we've ever.

It's 468 pages.

And I have slaved over each word on this book.

And I think it's...

I'm reading it now for the audio edition.

And I think it's really, really good.

I think you're really going to enjoy it.

And it's saying some things that you don't hear elsewhere.

It's called Addicted to Outrage and it's available on Amazon right now.

Comes out September 18th.

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Glenn Beck.

Man, if you live in California, I want you to listen to the next hour because

I'm going to give you I'm going to give you some information on your

your state and what your state has done to you

just on energy You know, there's a heat wave going on and it's a little different in Texas

Than in California in California.

They're talking about there's a there's a heat wave could be 90

Oh could be 90.

It's been 110 for a week.

Basically, there's a heat wave.

If that's what you describe as a heat wave, Texas is in a heat wave from about April until Halloween.

It's just miserable this summer here.

And I haven't, have you heard any talk about brownouts or blackouts or anything?

I have not heard anything about it.

No.

No, I've heard people say, oh, my air conditioner just went out and I had to wait two days before it could get fixed.

But that has nothing to do with the state or the electricity.

In California, they were saying, turn off your lights at night.

Oh, and just only use them during the day.

That's when I need my lights.

Turn them off.

And the case is always,

you can't have

growing clean energy without giant government subsidies.

And if you're going to favor things like fossil fuels, well, I mean, Texas pretty clearly an oil state, natural gas, lots of it here.

Also, the number one wind power state in America.

Yeah, when you hear the comparisons, because I asked the staff, I said, give me, I want you to look look into California and find out, you know, how exactly, how exactly do they get their power?

Where does their power come from?

How much are they paying for it?

And compare it to Texas.

And it is remarkable.

It is absolutely remarkable.

And it shows you why the progressive state just doesn't work.

There is no progress in a progressive straight, in a progressive state.

You become a slave to a giant system where Texas has the most modern, we have our own power grid.

We have so many different forms of electricity being generated here and so many different power companies.

You can basically pit them against each other.

It's remarkable what's happening here in Texas

compared to California.

And I want to show you what the progressive disease, how it rots the body in California when we come back.

Glenn back.

This hour I'm going to compare the

prices and the stability of electricity in California versus Texas.

And it is stunning.

It's stunning because we're both having a heat wave.

Our heat wave is, you know, 110.

California is almost up to 90 this week, and they have rolling brownouts and blackouts, and we don't.

Why?

And how much are you paying for that stability of that electricity, California, compared to us?

We'll explain that coming up in just a second.

But as I was looking into California, we found something else.

The California state auditor just released a report of their findings after a 12-month audit of state employees.

Took a year.

One employee at the DMV was discovered that she slept at her desk every single day.

Sleeping, doing nothing sleeping every single day the auditor found that this employee wasted 2,200 work hours between 2014 and 2017 now now now think of this this went on between 2014 and 2017

her sleeping at her desk every day

how fast would you be fired if you were sleeping at your desk

So when somebody said, you know, she's not doing anything, she wasn't fired.

She was transferred to another position.

She still continues to sleep at her desk and still gets a paycheck from the state of California.

Now, think about that, Californians, every time you wonder, why is it taking so long?

Because she's sleeping.

The audit goes on.

They found that some state employees had actually used funds.

And I actually, there's a part of me, because I don't pay taxes in California, that actually kind of appreciates these people.

They found that state employees had actually used funds to build a tiki bar on the back of a state-owned building.

Two other government employees at a different location wasted 5,100 hours and cost the state over $100,000 in salary for work not performed.

Now, that one I don't like.

The tiki bar, at least they were doing something.

You know, at least they were doing something.

None of them have been fired.

Now, let me ask you, in your place of business, would you be fired?

Of course.

This is the difference between the free market and the government.

You can suck at your job in the government and keep your job and then retire with benefits.

But one of my favorite lines in Ghostbusters is,

the university is going to kick us out.

So we'll just go out and do it in the free market.

You don't understand.

Out there, they actually expect results.

It's Friday, July 27th.

This is the Glen Beck program.

What's wrong with a tiki bar on the back?

The other side?

That's better than what the rest of the government's doing.

You know what?

If I'm working at the DMV and somebody's like, hey, let's build a tiki bar.

I'm working at the right DMV.

Yes.

You know what I mean?

All right.

Maddie Greenspan is a guy that you actually started following this week

because

he's an analysis

for cryptocurrency and

also other things, Facebook, et cetera, et cetera.

And early this week, he said, opened a large sell position on Facebook at an all-time high before their earnings announcement tonight.

This was a good bet.

And he said, pure speculation, definitely not trading advice.

Exclamation point, exclamation point, exclamation point.

Well, it should have been, it should have been advice because he's done quite well for himself.

We have Maddie on the phone now with us.

Hi, Maddie.

How are you?

Yeah, how's it going?

Pretty good.

This is better for you.

Yeah,

not as good for me as it is for you.

It was

a fluke, okay?

Can you walk us through how you came up with it?

Because you decided, this is before the call.

Everyone's really positive.

Facebook at all-time highs.

You decided to go the other way.

And can you describe the trade and what you did?

Yeah, so I was just looking at the charts.

All-time high was $214 at the time, dollars per share.

I was just thinking, this is a lot of hype around this earnings announcement.

Even if they come out with fantastic numbers and beat all of the analysts' estimates,

the next day there's going to be a hangover from that.

Right.

Because stock traders like to think long-term.

You know, I personally, I deleted the Facebook app from my phone I still have an account but I deleted the app from my phone I know a lot of my friends have done the same a lot of people don't use it as much anymore I mean they have a great service and all it's just I don't know people are just not using it so I have a strong feeling that my children might not have a Facebook account

so long long term I don't I don't see it there.

So I said, you know what, even if they have a great earnings report,

we still might gap down the next day.

And then

little did I know, I was about to

take part in the biggest stock crash

in U.S.

history.

Okay, so now you took a position using 1.58% of my equity with a 5X leverage.

Explain what that means.

Explain what that means.

So

of the total equity in my account, I used about 1.6% of all of it.

So I'm a very diverse trader.

I have a lot of different investments in my portfolio.

If you look on my portfolio, there's a link in my Twitter bio, you can actually see everything that's in my portfolio that I'm holding at the moment.

And basically, that means that I was using 1.6% of it.

And of that money, I was using five times leverage, which basically gives five times the buying power on the money that I was using.

And so if you have a very risky trade,

if you would have been wrong, it meant you would have had to pay those extra $4,

right?

for every dollar you bet you would have had to cut you would have had to cough up if you were wrong

so so the way that the platform works on eToro is let's say you allocate a thousand dollars to a trade um so basically you're gonna have a stop-loss somewhere in there um which will basically stop you out before you lose the entire one thousand dollars now if i don't know if you're really wrong and and the market's closed like it was last night and the market gapped up there's a small possibility that some of that um you know might have come out of the rest of your equity.

But that's a really

far-fetched scenario.

Most likely, if you allocate $1,000, even if you're on high leverage, that's about what you can expect to lose given where your stop loss is.

All right.

So if you would have done this with $1,000, how much is that $1,000 worth today?

Oh, I haven't done the math.

Well, let's just come up with something that maybe you have done the math on.

If someone, and definitely not what you did, but someone like you,

if they would have, you just fill in the numbers, somebody like you, definitely not you.

Right, right, right, right.

So if you do $1,000 and

you're expecting to take 100% profit, that would be $1,000 of profit.

And

so that would basically be how it works out.

What I'm asking is, how much money did you make?

Seriously?

It wasn't a lot.

It wasn't a lot.

And maybe enough for

a nice weekend away,

not enough to buy a house yet.

It's an amazing trade, though.

And I was interested, too, Maddie, on your looking at cryptocurrencies, because

you're known for that,

if I'm correct.

And

we've been talking a lot about cryptocurrencies.

We've followed the whole run.

I mean, it really is it's an exciting sort of situation.

And people have made ridiculous gains like this

in a lot of the cryptocurrencies.

But also, I mean, you know, the last year has been,

at least since the beginning of the year, been really, really scary.

What are you seeing coming forward with that?

So,

well, cryptocurrencies are very new.

Bitcoin specifically, if we look at it on the entire timeframe, it goes through these kind of boom and bust cycles.

So, because it's something that's

so useful for everyday people,

and because it's coming online so quickly,

basically, what you get is you get these periods where so many people are interested in buying at once that the price can surge

quadruple-digit for like thousands of percentage points within a very short amount of time.

What happens is at the end of that, you know, it has to come down at some point, come back down to reality.

So,

generally speaking, after a thousand-point rally, you'd expect to see even a 70%

or 80% plunge after that.

Correct.

But usually it doesn't return to

where it was before.

So it just maintains a little bit of the gain after the entire boom and bust cycle.

Are we headed towards a boom cycle, do you think?

I'm very optimistic.

I hope so.

Certainly, it would be better for everybody involved if we saw more steady inclines.

Yes.

Because

that would basically give it a better case for a use case scenario.

Anybody who bought in December at $20,000 per coin is right now kind of sitting on their hands

or biting their nails or both at once.

It could be flexible.

Or have teeth in your butt, which would be weird.

That would be very strange.

Exactly.

So it would be a better case for

the store of value and to be used as money.

However, the way it's worked out in the past is that every cycle is a little bit less percentage-wise than the previous cycle.

So, over time, as we reach full market penetration, we should see a lot of that volatility leveling out, but we won't,

that could be years away still.

And if you are, if you are somebody, do you believe this is

still at the place where it can be generationally

create generational wealth?

Or

at least, you know, is it, yeah, my grandfather in 1920 bought ATT?

⁇ T?

Is it that kind of thing?

Well, it's more of the kind of thing where you have now an alternative to central bank slash government money.

No, but I mean, I mean, as far as a stock, you know, if your grandfather bought, you know, AT ⁇ T in 1920 and then just sat on it, you know,

that's a great, you know, generational wealth creation

item.

If you buy Bitcoin now and you just sit on it,

do you think it has that kind of potential?

Well,

judging from the past, and obviously past performance is not an indication of future results, but over the last five years, it's done,

I haven't done the math, but probably somewhere along the lines of all of that AT ⁇ T stock in the last 100 years.

And but you don't think we're at the end of it.

It doesn't seem like it to me.

I mean, anything is possible, but at this point, it seems like we're at the low in the cycle.

We've seen a thousand-point rally.

We've seen a 75%, almost 75% drop.

Now we're kind of evening out.

Yeah, I could go a bit further, but

most of my clients are accumulating at these prices.

Can I let me go back to Facebook here for a second?

I think Facebook has,

you know, has

is a thing of the past.

Nobody who's young is using Facebook anymore.

And they kind of took on the responsibility to be the arbiter of what's true and what's not.

And that's not really their role

and can't be done.

And it just, it feels like it's over.

Do you think it is,

are you going to now reinvest in Facebook?

Are you done?

Just think about it.

I mean, very likely three months ago, you know, Mark Zuckerberg was sitting in a war room thinking about his path to the White House.

For me, as an investor, I tend to

invest in things that I personally identify with.

As far as stocks are concerned, they're going to be usually brands that I'm using or I agree with their long-term vision.

And you don't now with Facebook.

I think that's clear.

No comment there.

Matty Greenspan from eToro.

Also, you can follow him on Twitter at Maddie Greenspan, M-A-TI Greenspan.

Yeah, thanks a lot.

Also, answer your previous question.

Would you be fired if you got caught sleeping at your desk?

I believe I would not, and I've seen studies that show this is a healthy concept.

I agree too.

I'm going to bed.

Healthy for you or healthy for the business?

For both.

There's various studies.

Thanks a lot for having me on.

Have a great day.

Thanks, Matty.

Bye-bye.

I'm a little tired i gotta be uh honest glen i'll join you yeah i would love to we should have him back to talk about the concept because i actually

uh i mean we run our business uh like this to where you know if you if you you're you're in charge of your own day you do however you do you just have to get it done that's not the way it's happening at the dmv you know sleeping on the day they're not getting their work done it's not like oh i slept all day but i got everything done no that's not what's happening They're not getting the job done.

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So Kim Jong-un

has returned the remains of American soldiers, which we've been trying to get done for a very long time.

They have just arrived

back in the United States.

Kind of bothers me that some have been

returned home with a UN flag wrapped around the box.

It was a UN soldier, maybe.

I mean, we weren't fighting under under the UN flag there, were we?

God help us.

Were we?

It's a good thing.

I mean, even if this leads to nothing, which is still a very reasonable possibility that this thing falls apart, and Trump has been quite clear about that.

We don't know where this is going to be in a year, but it's worth a shot.

I mean, there have been a couple of things that have come out of this that are positive, such as this.

Yeah.

Otto Warmir.

All right.

Like there was, you know, although that was, there was some interesting reporting on that this week as well.

But it's a,

there has been something that has come positive that's tangible.

Yeah.

And it's great for the families.

And, you know, if it leads to nothing,

we at least got that.

At least we at least got that.

It's worth a shot.

So what are you doing this weekend?

I've got to record this stupid book.

This book is the bane of my existence.

Well, it's, you know, it's the longest book you've ever written.

Yeah.

Isn't it?

It's 468 pages.

They, they sent it to me and they said, okay, we want you to go and try to edit it down.

So I cut 20 pages and then added another 120.

So they were just like, okay.

So it's the longest book I've ever done.

And I haven't read

my own book for the audiobook in a long time.

This one I really feel passionately about.

And

I want it read in my own voice, but it's 35 hours.

35 hours.

So like every waking moment I have, like this weekend, I'm going to go see Mission Impossible and then I'm going to record the book.

So every waking moment you have outside of the Tom Cruise movie.

Yes.

Okay.

Every waking moment.

No, I know because we Pat and I did the audiobook for, I think it was Argument with Idiots.

We voiced it.

And what a process that is.

It just never stops.

And it's annoying because you're reading a book.

But when you read a book, you know,

silently, you're reading it in a different way than you would read it when you're actually sort of performing for an audiobook and there but you also can't ad-lib at all there's no it's not a normal way of speaking so you're reading a book word for word exactly and as soon as you screw one up they stop you and they make you redo it yeah i mean yeah well yeah you're just that was the deal that was the deal i said i'm not stopping i'm going to change it and they're like well we really can't really because it's my book right and they're like well you really shouldn't i mean it would be different than the book good then you have two different versions great

I mean both of them.

And so there is some ad-libbing.

Much to the chagrin of Simon and Schuster, there is some ad-libbing in this.

I think it's better that way.

It's a little funnier as well.

By the way, you can grab it online now.

It doesn't come out until September 18th, but you can grab it online, both the hard copy and the audiobook, Addicted to Outrage.

You can get it at Amazon.

So,

the last couple of weeks, we've had a heat wave here in Texas, been 110, and it is just

hotter than the places of hell.

And anybody who says, well, you know,

these times are really tough.

The times have never been this tough.

Really?

Try just living without the American invention of air conditioning and refrigeration.

No, thank you.

I don't know how anyone lived here before there was air conditioning.

Oh my gosh, it's hot.

So I was thinking because in Texas we have

we have our own power grid and we also have competitive pricing because we have more than one power company.

It's not all state run and you know regulated and everything else.

So you can there's competitive pricing.

So you can kind of pit the the uh electricity companies uh kind of in some ways uh against each other.

However, because it is the free market,

they price it on demand.

So if you're, you know, it's 70 degrees and it's in the middle of the summer and there's light all the time and it's nobody's really running their air conditioning, you know, the power is pretty cheap.

If you're in the winter and everyone's running their heater, or you're in the summer and it's 110 and everyone is using air conditioning, then the price of energy goes up.

But that's what gives us the stability of not having blackouts like California because

we don't guarantee our electrical companies a profit.

Sorry, we don't guarantee it.

But we also don't restrict you from charging.

So the free market works.

And so I've been looking into the difference between California and Texas because

we don't even have a fear of rolling blackouts.

The national average price for electricity is rounding to the closest number, 10 cents per kilowatt hour.

That's the national average.

California's electricity is 5 cents higher.

It's 15 cents a kilowatt hour.

So 50% above average.

Yes, okay.

In Texas,

Texas has 8 cents per hour.

So 20 cents or 20% below average.

Correct.

Wow.

Think of that.

Now they have all of the, you know, I mean, they're Silicon Valley.

They've got all the high-tech.

They have everything else.

They're all super, super green.

They have all of the resources that Texas has,

except they're not using any of them.

Texas is the largest state that is a net exporter of energy.

California, on the other hand, imports more electricity than any other state.

29%

of its total energy comes from another state.

You want to talk about being dependent.

It imports wind and hydroelectric power from Oregon and Washington.

It also imports nuclear, coal, and natural gas power from Arizona, Nevada, and Utah because they won't build a coal plant and they won't build a nuclear power plant.

But, you know, that makes them feel good.

Except it costs them a lot more because they're just buying it from somebody else who's building a bigger coal plant or, you know, nuclear power.

California doesn't have any coal reserves or production.

They phased out almost all of the use for coal generating electricity within the state.

And

the critics will say, oh, well, now wait a minute.

They produce an awful lot of clean energy, which is true.

They're third in the nation in generating hydroelectric power.

They're ranked first in producing solar and geothermal power.

However, California is the most populous state at 39.5 million, and solar and geothermal power only provides for about 15% of the electricity used in the state.

So

you have to have more power than that.

Over the last 20 years,

if you've been paying taxes in California, you have paid $171 billion.

billion dollars over the national average

in large part because the state, you know, says, we got to have renewable energy.

We have to have, you know,

we got to get rid of coal.

We got to get rid of all of these.

Renewable energy, great on paper, but 60% less reliable.

So, California, every time people turn on their air conditioning, they're afraid, oh man, it's going to get hot and we're going to have rolling blackouts or brownouts.

It's because the state of California, you know, has cut itself off at the knees because of the Clean Energy Pollution Reduction Act, which requires the state to get 50% of its electricity from renewable energy sources by 2030.

Good luck.

Los Angeles set to use its end of imported coal power by 2025.

What are you replacing that with, California?

And because of this, they say it's progress.

But I'm sorry.

energy is part of progress you can't have progress without electricity

California leads the nation with over 450 power outages a year

okay so

they import

contributes to high power for high power costs for consumers.

43% of its electricity comes from natural gas, but California imports 90% of the natural gas it uses.

California is playing a game with their neighbor states.

They're saying, we don't want to have coal, but they, you know,

they're the model child.

Oh my gosh, we are so clean.

But underneath the table, they're just paying somebody else to be dirty.

And I guess that makes them feel good.

Another part of the California power game is

they're patting themselves on the back for being, you know, leading the country in renewable energy.

Yeah, well, what about transportation costs?

As the elites are starting to take down Elon Musk, who gave you the electric car, which you still have to plug into a wall, that's weird.

Transportation accounts for 39% of the state's overall energy consumption.

And guess what?

Planes, trains, and automobiles run on.

Fuel.

Fossil fuel.

California, listen to this stat, accounts for one-fifth of the nation's jet fuel consumption alone.

One-fifth.

Meanwhile, in Texas, the free market approach to energy production has managed to both increase the use of clean renewable energy in the state and lower

electricity bills.

Why are people moving to Texas from California?

Because of things like this.

California is the number one producer of solar and geothermal power.

Guess who's number one in wind power?

Texas.

And we have oil too and natural gas.

Here's the thing.

You can't stop using one thing until you can replace it with another.

And you can invest in something new and be on the cutting edge, but not before you have a safe place to land.

I mean, I appreciate taking care of the environment.

And California is one of the most beautiful states in the U.S.

and one of the most beautiful places on earth.

It's fantastic.

But

look at Los Angeles.

It's a garbage dump.

And you are the ones who are saying that you're so clean and green.

You have to start using common sense.

You have to start using the free market.

There is no progress without power.

I'm not a slave anymore.

In Texas, I'm not a slave.

I'm not a slave to, you know, the government here.

My business is not a slave.

My business is not a slave to taxes.

My business isn't a slave to energy costs.

And I'm not a slave to

the whims of Mother Nature either.

I don't have to, in Texas, I don't have to worry about,

oh man, I'm going to be home and I'm not going to be able to use my TV, my lights.

I mean, what is the point of living in a civilized society, living in a modern first world country

if I'm experiencing blackouts?

and rolling brownouts like you would expect in Africa.

It's the United States of America.

It's California, the home of Silicon Valley.

And you're still having rolling blackouts and brownouts?

California.

You got to wake up, man.

You got to wake up.

It's not 1978 anymore.

Now, if we could only cure the giant straw problem we're having in the United States

and the world.

Right.

Globally, 500 trillion straws are used by each person every day.

That's too many straws, guys.

Why are you using so many straws?

Okay, so

what did the fourth grader say that is now quoted as the actual fact that the United States uses 300 million straws?

That's 500 million straws a day.

A day.

By the way, again, that sounds like a joke, what you just said.

What did the fourth grader say in his research?

It's legitimately from a fourth grader who called companies and estimated what the total number of straws were, and it's being quoted by major media sources.

Okay, now to put that number into perspective, all of the Disney parks, now think of the number of people that go to the Disney parks.

A lot, a lot of people.

Okay?

All of the Disney parks worldwide,

their whole thing is just to sell sodas and things to drink.

Sure.

They use 115 million straws

a year.

A year.

A year.

A year.

Think of just how ridiculous this is.

You know, there's probably not a human being in the United States that consumes more soda than I do.

Probably not.

I mean,

I use more,

I drink more soda than, it was more than double the amount.

in a study where they used an excessive user of soda.

I drink double the amount of what they said an entire household was excessively.

So I am like,

I use more straws than anyone in America, right?

You'd think.

Yet still, I don't think that I use straws at the pace that you would need to have because it's basically like two straws a day for every single person.

And it's like, well, two straws a day, certainly possible.

Certainly people do it.

But the average for every person in America is two straws.

I can't tell you the last time I used a straw.

Right.

A week ago?

You used to have cans.

Now, if I go to a drive-through or something, yeah,

that's when I use it.

But, you know, are you really going through two straws a day?

No.

Most people are not.

Most people, that number's not even close to that.

And I think everybody.

And by the way, that would include all babies, all old people.

Yeah.

Everybody, everybody in America, all ages, all races have to use two a day for this number to be accurate.

And there's some weird thing that happens in our society where people get on these little runs.

They get on these like, these frantic sort of passions where all of a sudden now plastic straws are the enemy.

It's such a tiny piece of all of the problems they're supposed to cause.

Not to mention their replacements, largely paper straws, are the worst creation mankind has ever

worse than any horrible weapon, worse than any man-made biological disease.

Like, it's nothing.

It's, it's like the, I cannot stand paper straws.

But I thought this was amazing.

They came out with the biggest polluters when it comes to ocean plastics.

The United States, 300,000 metric tons of mismanaged plastic waste in the global waters.

It's really bad.

300,000 metric tons

is a lot of garbage.

Now Brazil is slightly higher at 500,000 metric tons.

Bangladesh at 800,000.

Nigeria at 900,000.

Malaysia at 900,000.

Thailand at a million.

Egypt at 1 million.

Now remember, the United States is 300,000 of this.

Sri Lanka at 1.6 million.

The Philippines at 1.9 million.

Indonesia 3.2 million.

Now you're talking 10 times what the United States is putting in the waters.

And we're the big problem here.

And China leads the list.

8.8 million.

We're at 300,000 metric tons.

Now,

that is a big difference.

We are not the problem here.

Now, part of the Chinese and some of these other countries' waste is we ship a lot of our uh plastics to china to be recycled uh which is funny because recycling is one of the things that's causing the plastics to get in the water in the first place it's supposed to cure all these problems i thought uh but you know so and so china is taking a hold of our garbage and then dumping it in the water i don't know how it's our fault i don't know how we're responsible i thought they were supposed to recycle it wait a minute they're hey do we know that they're dumping our stuff in the garbage I mean, into the ocean?

That's the defense because people will say, well, wait a minute.

You can't say that China's

the leader.

I mean, we're shipping our plastics there.

To

have them be recycled and reused in something.

I'm completely blaming China for that.

No, if it's one of these things, like, hey, you want our stuff to recycle, wink, wink?

Then I have a problem with it.

Right, but it's not.

It's like if you put your garbage out in front of your house and then the garbage company came and just dumped it all over your neighbor's lawn down the street, that can't be your fault.

Right.

I thought he was taking it to the dump.

I didn't know he meant the Johnson's house was the dump.

I had no idea.

All right.

I want to talk to you a little bit about

your filter in your air conditioning unit.

If you are running your air conditioning anything like we're running it here, have you ever used your air conditioner this much?

Have I ever?

I can't.

I guess we both lived in Tampa

all the time.

All the time.

Right?

So it just doesn't stop.

Anyway, you have to replace your air filter because it's sucking in all of the dirty air.

And this is what makes your air conditioning break down.

So replace your filter.

Do it.

Now, you can go to filterbuy.com and get your filter, and they'll deliver it to your house.

They'll put you on a schedule so you don't have to forget about it.

They carry over 600 sizes.

They ship for free within 24 hours, but you got to change your air filter.

Filterbuy, family-owned business.

All of the filters made here, right here in America.

So do it now.

Filterbuy.com.

Save time, save money.

Filterbuy.com.

Filterbuy.com.

Thank you so much for listening all week long.

Thank you for tuning in today.

And thanks for watching us on the Blaze.

We'll be back on Monday.

Whole new week of shows.

Enjoy

Mission Impossible

opens this weekend.

Glenn, back.

Mercury.