Summary of Glenn Beck & Kevin Balfe 's Broke

By IRB Media

Please note: This is a companion version & not the original book.

Book Preview: #1 The real battle we are facing is with the laws of economics, and it’s a war we can’t win. We are on the verge of stamping out ourselves.

#2 The laws of economics say that when expenses are higher than revenues for a prolonged period of time, there will be repercussions.

#3 The past predicts the future. America’s past financial superpower status has gotten us into this position.

#4 The United States is like Rome before its fall. Its financial condition is worse than advertised, and it has a broke business model. It faces deficits in its budgets, its balance of payments, and its savings.

• Language: English
• Publisher: IRB Media
• Release date: Mar 8, 2022
• ISBN: 9781669357131

IRB Media

With IRB books, you can get the key takeaways and analysis of a book in 15 minutes. We read every chapter, identify the key takeaways and analyze them for your convenience.

Book preview

Insights on Glenn Beck & Kevin Balfe's Broke

Contents

Insights from Chapter 1

Insights from Chapter 2

Insights from Chapter 3

Insights from Chapter 4

Insights from Chapter 5

Insights from Chapter 6

Insights from Chapter 7

Insights from Chapter 8

Insights from Chapter 9

Insights from Chapter 10

Insights from Chapter 11

Insights from Chapter 12

Insights from Chapter 13

Insights from Chapter 14

Insights from Chapter 15

Insights from Chapter 16

Insights from Chapter 17

Insights from Chapter 18

Insights from Chapter 19

Insights from Chapter 20

Insights from Chapter 21

Insights from Chapter 22

Insights from Chapter 1

#1

The real battle we are facing is with the laws of economics, and it’s a war we can’t win. We are on the verge of stamping out ourselves.

#2

The laws of economics say that when expenses are higher than revenues for a prolonged period of time, there will be repercussions.

#3

The past predicts the future. America’s past financial superpower status has gotten us into this position.

#4

The United States is like Rome before its fall. Its financial condition is worse than advertised, and it has a broke business model. It faces deficits in its budgets, its balance of payments, and its savings.

#5

When people abandon individual responsibility and expect more from government, they become vulnerable to tyranny. This was the case with Rome.

#6

A society that seeks to equalize the minds of men doesn’t cherish real learning. Education becomes the right of the few, the elite, and the masses must accept their interpretation. A society that seeks to equalize incentives for work doesn’t cherish individualism.

#7

The Roman Empire was able to expand because of its heavy military spending, but as the empire grew, so did the Roman bureaucracy. The size and strength of government grew, and personal ambition withered.

#8

The Roman Empire experienced a similar situation to America today, where the government began to encroach on the freedoms of its citizens. With eyes averted and personal initiative suffocated, the Roman government began public works projects that encroached on private life.

#9

The fall of Rome was similar to the fall of Greece. Both civilizations displayed a pioneering spirit in their earliest stage of life, and both served as the cradle for many of the concepts we now associate with Western civilization. But as so often happens, freedom could not last in the face of crisis.

#10

The Greeks, Romans, and Spanish all suffered from the three-headed monster of bloated bureaucracy, centralized power, and skyrocketing taxes.

#11

The American system was designed to protect the country from Black Swans, the unforeseen events that can only be rationalized in hindsight. But as we’ve gotten further away from that vision, our safety nets have eroded.

#12

The Spanish empire’s decline began when it began to consume more than it produced. By the time that Philip II became king, he found an empty treasury, stifling taxation, and loans from German and Italian bankers which had mortgaged Spanish income for years ahead. . the loans absorbed the royal share of the bullion pouring in from the Indies.

#13

The centralization of power will dampen entrepreneurialism, foster entitlement, and incentivize the lack of pride in individual accomplishments that typically precedes the downfall of most great empires.

Insights from Chapter 2

#1

Frugality is currently considered old-fashioned, but it has always been a virtue. While America may be experiencing a shift toward the spending side, the pendulum always swings back in the other direction.

#2

The recent denigration of profits and wealth is right out of the progressive playbook. They make wealth synonymous with greed and profits synonymous with corruption. People start to think to themselves: Maybe I don’t want to be rich after all.

#3

The United States was founded on Judeo-Christian principles, which embraced personal giving and charity as fundamental. However, FDR and progressives changed all of that. Charity now means fulfilling your financial obligation to the government.

#4

When viewed from the classical view of