From Pittsburgh, PA, with on stage audience.
The U.S. has been bailing out Europe via the IMF, of which we fund 17%.
More IMF funds are expected to go to Europe in the near future.
GE got $16 billion.
- The story first was that Greece was fine.
- It makes up about 2.5% of the EU economy (1.8% of the European Community).
- It is the 27th largest economy in the world.
- It’s GDP is $330 billion of the EU $16 trillion total economy.
- Makes up 13% of the U.S. economy.
- It is the 8th largest economy in the world.
- It’s GDP is $1.8 trillion.
- Out of the U. S. GDP of about $ 13 trillion.
Glenn then reviewed his theory of Mutually Assured Economic Destruction wherein the economies were deliberately intermixed so as to ensure that one country could not attempt to destroy another because then all would collapse.
EU Problem States
- Spain - $1.4 trillion GDP
- Portugal - $233 billion GDP
- Greece - $330 billion GDP
US Problem States
- NJ - $474 billion GDP
- Ill - $633 billion GDP
- NY - $1.1 trillion GDP
- CA - $1.8 trillion GDP
- Total $4.01 trillion of the Total US GDP of $13 trillion
- Some discussion about Greece being the problem that drags the EU down when it is only 2.5% of the EU economy, how far off can it be that CA, which is 13% of the US economy could not do the same in this country.
- Some discussion of Germany and it’s position of strength within the EU and how far they will allow themselves to be used to bail out other EU countries.
- Texas was held up as the US equivalent in the US to Germany in the EU.
- Potentially, Germany could say Germany for Germans, not Europeans and withdraw from the EU and back into nationalism.
In order to prolong the day of reckoning, the EU may try to hang together just as the US would try to stay together as a whole. The US will try to save the EU and then both will go down together. The open society people will attempt to then create a new world order of global governance and global state capitalism.
Glenn estimates that the Glenn Beck footprint is around 30 million people who hear his message via radio, TV, books, etc. He is attempting to get those people to adopt an attitude of self-reliance so as to provide a foundation for the others to build on when things get bad.
The program was then interrupted for a news alert about the House of Representatives censuring Charlie Rangel.