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Beck says Greece is collapsing financially, as he predicted, because "communist invisible committee" has "foothold" there

November 30, 2009 9:49 am ET

From the November 30 edition of Premiere Radio Networks' The Glenn Beck Program:

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    • Author by DAWUSS (November 30, 2009 9:55 am ET)
      7  
      I sees an oxymoron. And a moron.
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    • Author by achrispage6992 (November 30, 2009 10:00 am ET)
      5  
      since early summer, Beck has made quite a few predictions regarding our economy, the President, and our country in general. It would interesting to have an analysis done on how his predictions faired. I would submit that such an analysis would be quite embarrasing to little the Hitler.
      Report Abuse
      • Author by gs-425 (November 30, 2009 10:25 am ET)
          12
        Well, he's been right on oil, the market, gold, climate cover up. Matter of fact, when he said he went all cash back in Sept of 07, I did as well in one of my IRA account...my bet is with beck on this as well.
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        • Author by magnolialover (November 30, 2009 10:34 am ET)
          6  
          Wow, just wow. So you'll take Beck's word on anything right? Except, he's been wrong. The market is at its highest levels since late 2008, as in, it has recovered quite a bit, and if you didn't have some money in stocks, you'd be stupid. For example, in my meager 401K account, I have received a 25% return, this quarter. That ain't bad. My other rollover account, has gone shown a return of 60% since start of 2009, again, not too bad. By going all cash, you've taken yourself out of the mix, and not done well. It's called, diversification, if you're not doing it, in the long run, you're going to lose.

          Gold is, and always has been a good investment. This is not new to anyone.

          There is no climate cover up.

          Report Abuse
          • Author by gs-425 (November 30, 2009 11:22 am ET)
              6
            Well since you market history seems to be limited to just one year, I will explain to you that although you seem to be on the side of 'the last 8 years where the worst in history", they where not. The markets where banging off all time highs in Oct of 07, that is when I sold and when Beck claimed he did. Since that time, it has been cut in half but has not fully recovered from those lows and in fact is still 30% the highs.

            And I am now back in although a bit more diversified than previous and I never stated that I was out completely. My ONE IRA account went all cash, my 401k as well as my spouses are still in the market.

            Yes....there is a cover up. Is the light so bright you cannot see?
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            • Author by magnolialover (November 30, 2009 12:43 pm ET)
              2  
              Nope, again, you mis perceive. I never said, nor did I indicate that the market was bad over the last 8 years, it wasn't. It was pretty good for awhile, and I too made some money in those days. And no, it's not back to all time highs, but it has recovered to higher than it was over the last couple of years, and that is a good thing, especially if you kept putting money into it, which is what I did.

              You'll also know, that the market, over the long term, is always on the plus side of things, as in, it always, or has always, historically gone up. So taking your money out was dumb.

              There is no cover up. I'll repeat it again. There is plenty of vetted, and peer reviewed scientific evidence showing that climate change has been impacted by our human population. The light isn't bright, it's just that you guys ignore the science at your own risk.
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              • Author by DellDolly (November 30, 2009 1:13 pm ET)
                1  
                If one has multiple years or decades to save for a future rainy day, then one should have stayed in the market.

                If one is retiring soon, then one should have gotten out of risky investments, regardless of what the market was doing.

                Being a day trader with one's investments is almost always a mistake. Only the lucky win.
                Report Abuse
              • Author by gs-425 (November 30, 2009 4:01 pm ET)
                  1
                The whole peer reviewed process in now in doubt as evidence in the emails. The "peer" lable has been shown for what it is...a political agenda.
                Report Abuse
        • Author by SLRTX (November 30, 2009 10:37 am ET)
          6  
          Yep. He sure nailed that Nazi/Socialist/Communist symbolism thingy on that art work on that NY building.

          Smart guy. He's so smart, he's the only one who gets it. And when you are the only one who get's it, it's called a "delusion."
          Report Abuse
          • Author by gs-425 (November 30, 2009 11:22 am ET)
              7
            Nothing to address the original statement....I hear personal insults work well.
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            • Author by congero6189599 (November 30, 2009 11:45 am ET)
              2  
              Yea and Glenn Beck sure nailed the president as a white hating racist who hates white culture...oh wait "white culture" what exactly is that ? gs-425 care to explain?
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            • Author by SLRTX (November 30, 2009 11:51 am ET)
              3  
              That was the all-encompassing "you", not you personally.

              Beck's delusional.

              Go look up "Jeane Dixon". She got it right sometimes too. Then she predicted we'd land on Jupiter.

              If you want to follow Beck, then by all means, be my guest.
              Report Abuse
              • Author by gs-425 (November 30, 2009 4:04 pm ET)
                  2
                Really what has beck been delusional on? And I don't mean that rubbish that this site claims as lies when it all boils down to semantics i.e. "leaked" vs "hacked".
                Report Abuse
            • Author by New Frontier (November 30, 2009 12:15 pm ET)
              3  
              Nothing to address the original statement....I hear personal insults work well

              Someone called Mary Landrieu a "hooker" on national radio the other day. Who was that?
              Report Abuse
              • Author by gs-425 (November 30, 2009 4:06 pm ET)
                  3
                And that makes it ok to do it here?? BTW, it was no better when Grayson said something of sorts either.
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                • Author by New Frontier (November 30, 2009 5:48 pm ET)
                  1  
                  And that makes it ok to do it here??
                  It's ridiculous that this needs to be explained, but Beck called Landrieu a hooker on national radio and tv, yet you ignore that to complain about an anonymous message board post.
                  Report Abuse
                  • Author by gs-425 (November 30, 2009 6:39 pm ET)
                      1
                    So you see fit to be able to do it because beck does it?? That is brilliant....looter mentality really. Gonna get your tv because somebody else did.
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    • Author by epkklk851 (November 30, 2009 10:03 am ET)
      7  
      Did anybody at MMFA check out his claim that Greece would fail? If there are riots in Greece, why are they not being reported. I did a spot check, the last time there were riots in Greece was a year ago. And why are Glennie and his stooges yucking it up over the collapse of a government? If he is lying about Greece or his predictions about failure, there should be more research to go with it. We need to catch Glennie in his lies.
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      • Author by worrierking (November 30, 2009 10:09 am ET)
        6  
        I think Beck is referring to the invisible collapse of Greece caused by invisible commies.

        No wonder it hasn't been reported.
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      • Author by caels (November 30, 2009 11:29 am ET)
        2  
        They are struggling very severely for a variety of reasons (unrelated to communism obviously), but they aren't going to "collapse."
        Report Abuse
    • Author by mary59 (November 30, 2009 10:07 am ET)
      6  
      Beck is being an idiot, as usual. Why single out Greece? Sounds like the EU is in crisis:
      http://www.telegraph.co.uk/finance/financetopics/financialcrisis/3124320/Greece-joins-bailout-stampede-as-Germany-vows-no-blank-cheques.html
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      • Author by magnolialover (November 30, 2009 10:40 am ET)
        5  
        Indeed. Just check out the flailing economy in Ireland as well. Formerly the Celtic Tiger, it's just bad now. A lot worse than our fallout.
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    • Author by SLRTX (November 30, 2009 10:34 am ET)
      4  
      I expect Beck to collapse at any time under the weight of his own head.
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      • Author by The_Cat (November 30, 2009 5:22 pm ET)
        1  
        Perhaps Beck will float away, buoyed by the overinflation of his own ego, SLRTX. ;)
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    • Author by caels (November 30, 2009 10:38 am ET)
      2  
      The "collapse" of Greece is very simple to explain (even though it's not "collapsing," it's just in a lot of trouble).

      1) A collapse of international trade comparable to that of the Great Depression. Barry Eichengreen actually demonstrated the trade collapse was every bit as bad as that of the first year of the Great Depression. At least 4-5% of Greece's GDP relies on shipping and use as a port. When international trade collapsed, so did there shipping industry which is a huge part of there economy. Just as a side note, for people that are interested in learning about what's being called "The Great Trade Collapse" and want a non-technical summary I 100% suggest this book (http://www.voxeu.org/reports/great_trade_collapse.pdf); just skip around to the stuff you are interested in (or read it all if you want too).

      2) Greece relies heavily on foreign tourists for economic growth. The estimated tourist revenue for Greece is down from nearly 11-12 billion euros to likely 8-9 billion euros this year, mostly because people aren't traveling because of the recession.

      3) High government debt (97.4% of GDP) appears to be impeding their governments ability to borrow effectively. This is not because this debt level is disastrous (it's bad, but it's manageable), but because investors don't have a great amount of confidence in Greece. Greece's public employment sector is about 40% of their GDP, and it is known they have widespread government corruption on top of bureaucratic inefficiencies; making the ability to maintain that level of employment and efficiency questionable, at best. This makes investors nervous and makes it more difficult for Greece to effectively borrow. Japan, for example, has been able to run debt / GDP ratios at 180% (likely going over 200% next year) because investors have confidence in their government, same thing with Belgium (likely going over 90% next year). Investor confidence is what is key and no one has confidence in the Greek government.

      Couple those three problems with all the problems every country is having: over-leveraging, high private debt, large unemployment, low (or negative) GDP growth, and it's obvious why Greece is in so much trouble.

      Nothing to do with communist, just bad circumstances (Trade and Tourism reliance) and an ineffective, corrupt government.
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    • Author by Handyman (November 30, 2009 10:46 am ET)
      5  
      I suppose next he will claim that Dubai's economic suffering is also from infiltration of a "Communist Invisible Committee".

      These are the same old arguments that the John Birch Society have been using since the Cold War Years. Everything is a communist plot.

      Where's the diagrams Glenn?
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    • Author by New Frontier (November 30, 2009 11:50 am ET)
      3  
      Beck, who sees himself as a modern-day Nostradamus (when he's not seeing himself as Noah or Moses):
      Something we told you was coming this summer... there's going to be riots in the streets.

      BBC News:
      The annual march from the city's Polytechnic to the American embassy frequently ends in trouble.

      How does Beck do it? He's amazing!
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      • Author by Major Tom (November 30, 2009 11:57 am ET)
        2  
        LOL... Didn't he predict there would be cartoon diguised zepplins flying over NYC on Thanksgiving?
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    • Author by vonbargen9388 (November 30, 2009 11:57 am ET)
      2  
      It seems to me that Greece was on fire this past summer. There were forest fires. Is that what this nitwit is talking about?
      Report Abuse
    • Author by Boxer1979 (November 30, 2009 1:54 pm ET)
      1  
      Beck says Greece is collapsing financially, as he predicted, because "communist invisible committee" has "foothold" there

      Is he a financial advisor now? I bet people will start risking their financial investments off what he says now. SMH!
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    • Author by mjh (November 30, 2009 2:52 pm ET)
      2  
      Beck says Greece is collapsing financially, as he predicted, because "communist invisible committee" has "foothold" there



      And Becky's right.

      It was reported in the Athens Business Review.

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