Saturday, February 13, 2010


Angus vs. Glenn Beck

I heard this "live" (i.e. I'm not sure if there is a tape delay but I heard it on the radio the day of) and I found it hilarious, but not for the obvious reasons. (HT2LRC) Pay close attention starting around 1:45. After Angus points out Beck's hypocrisy vis-a-vis the bailout, Beck says something like, "OK Angus, if you have all the answers, then tell me why I was for the bailout." Angus has no answer for Beck's absurd flip flop, and Beck & Crew take this as evidence of Angus' stupidity. What's really funny is that we don't even know if Angus was speechless--"Uh, I don't know how you could have supported the bailout, Glenn, given your rhetoric of the last 12 months, that's my whole point"--or if they just cut him off. I.e. we never hear from Angus after this point, so for all we know they hung up and then Beck said, "OK Angus, if you have all the answers, why was I for the bailout?"

(BTW don't be confused: The people making this YouTube cut away as Beck gives his explanation, and show the TV clip from when he supported the bailout. Then they come back to the radio show right after he dukes it out with Angus.)

In case you're curious, what Beck actually said on the radio was that he initially was for the bailout when he thought it was necessary to stave off disaster, in order to buy time for the politicians and corporate leaders to get their act together. But then (withink two or three days I think) Beck had smelled a rat and realized they weren't going to change our sinful ways, and that's why he was opposed to the bailout from that point forward. Beck also worked in the fact that he had been predicting the financial crisis for a long time when everyone thought he was crazy.

By the way, of course people can make mistakes and we don't need to jump up and down on them for changing their mind. (I am still embarrassed about this article, for example.) But the point is, I was absolutely shocked when Glenn Greenwald sent me this video and I learned that Beck had supported the bailout when it mattered, i.e. when it was first being debated. I had been listening to Beck for only a few months, and I actually bought into his Fight the Power schtick. I couldn't believe that someone who had declared on national TV that Paulson didn't ask for enough money, was so clearly painting himself as a Cassandra and diehard opponent of the bailout just a few months later.

Last point: Angus hails from New Braunfels, TX. I wonder if he saw me give a talk there last summer?! (A church in New Braunfels is a hotbed of subversive libertarianism; I think Tom Woods was their speaker the previous July 4.)

The Blackadder Says:

Just my opinion, but Angus comes across as a real jerk in this clip. He has a good question, but when Beck tries to answer he starts spouting nonsense and won't let him talk.
Dr. Murphy,

I apologize for getting off topic here, but I have to ask... You link to an article that you are embarrassed about.

I thought the argument that you made was a sound Austrian argument. In fact, I've read from Don Bordeaux's blog that the US was in a trade surplus for much of the depression. (I haven't read your depression book YET, so maybe you address it there too).

My point is that I thought trade deficits were not the horrible thing they are made out to be because it signifies other companies investment in US companies.

I know you make the one sentence error in predicting that there would be no recession in 2007, but that's certainly not the point of the article.

Again, I'm sorry for getting off topic here, but if you could clarify that, it would help me clarify my emerging Austrian economic education. Thanks.
Old media needs to be extirpated out of existence, starting with talk radio.
Mr. Kitchens,

Google Art Laffer and Peter Schiff.

In a free market with sound money trade deficits are self-correcting and self-regulating. The world wide dollar standard isn't either a free market or sound money. If that is the article I remember, Dr. Murphy would have been spot on if he were talking about a different point in US history.
Where is the delete button?

I decided since I had time to chime in I could at least verify the article is what I remembered. It wasn't. Note to self -- look first, open mouth second.

Re: "Fight the Power schtick". Are you saying Glenn Beck is a phony?
Dr. Murphy,

This is Angus McClure. I was purposely childish on that call. I knew trying to have a reasonable conversation that is in oposition to Beck was useless. I wanted to treat him how he treats his opposition. And by the way...he hung up on me, I did not hang up on him. He is a Neo Con fraud. I just wanted to poke him in they eye (metaphorically speaking)

Member of the Hotbed Church of Subversive Libertarianism

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