Rebooting System News Today

♪ ♪ were so gallantly streaming ♪ ♪ and the rockets red glare ♪ ♪ the bombs bursting in air ♪ ♪ gave proof through the night ♪ ♪ that our flag was still there ♪ ♪ o say does that star spangled banner yet wave ♪ ♪ oer the land of the free ♪ ♪ and the home of the brave ♪ [cheers and applause] will: welcome to "fox and friends," national anthem along with your photos as we do every saturday and sunday on the fox news channel. keep your photos coming in at...

I dont need to cheat or lie or steal. >> the answer has to come from the people. the government wont solve our problems. we cant expect the government to be anything other, not in greece, not in ireland, not in portugal and not in the united states. we can not let the government from being anything other than -- >> you are a different -- >> im just more hopeful. >> glenn: im hopeful in the end, but we have to go through rebooting system. let me ask for final thoughts here. dont talk about the ma...

Portugal and greece. were seeing the chinese showing less interest in buying our bonds. the game well borrow to spend is over. that is unpleasant. on the other end it will be great. money and capital, instead of lent to government, for government to do it with them can be led to entrepreneurs and people to build real wealth for the world. >> greece is the cradle of democracy. what is at stake here is the notion is the westernized system as it stands. >> glenn: but we -- >> for over 110 years we ...

The global countries are going to model themselves after economies that are functioning. not ones that are not functioning. that looks like china. >> the lesson of the russian experience is different. it tells you that a well intention leader who for some people appears to be the solution to their problems can completely wreck the system. mikhail gorbachev was the man who broke up the soviet union. the collapse of the soviet union 20 years ago had incredible speed. nobody was expecting the refor...

Bad. flirting with the possibility of ugly stuff. i have dont want to discount the possibility but i hope not. >> glenn: how do we avoid that here? what can we do today? besides just cleaning out our own life. what should we be doing today? >> we should not assume or take on more debt. >> what about the stimulus packages. if you stop sending this money, the whole economy stops? >> that is good to reboot the system. >> i would pull the lever that says reboot. >> glenn: you would? you would too? >...

And its china. that is the model. disagree or agree? >> scary to say that. scary to say that to america that the model that the world may choose may ultimately look like a china style system. scary to say to america. >> only because theyre killing children in rice patties. ugly system. >> if you know youre on slippery ice and you lost the brake, and in the moments youre heading to the crash, do you put on rose colored glasses, look out the window or get involved with people in the backseat or ta...

Fund something you love to contribute to the well-being of the world. find people to pay it for you. take care of your yard and family. is not embration social solutions that require people with guns to grab resources, redistribute it and borrow and enflame that the economic system collapses. dont contribute that. take care of your own yard. >> the other side of debt implosion, is what were in the process of realizing now, is potentially anarchy. anarty and the society. so individuals and famili...

The system hasnt worked. you said they wont model themselves after a system that doesnt work. youre darn right. it doesnt work! but we have been modelling ourself after europe. europe is not working. >> were racing toward it with the healthcare plan, with the entitlements, with your unionization. >> its collapsing. >> unions, unions in portugal, in spain, in greece are collapsing the economy. along with government. >> the same story! what did unions do to general motors or airline industry? what...

That is the coming insurrection. when i told you the story you said you were driving in the car here. >> funny. >> yeah. you were writing down notes, things that came to your head. what happened? >> you do an interview like this. and doing an interview with you are kind of intense. [ laughter ] a little bit. im trying to condense what is going on in the world. what is going on in europe? how does it play in the united states? where are things likely unfolding? where maybe are we headed? if you g...

Or steal. >> the answer has to come from the people. the government wont solve our problems. we cant expect the government to be anything other, not in greece, not in ireland, not in portugal and not in the united states. we can not let the government from being anything other than -- >> you are a different -- >> im just more hopeful. >> glenn: im hopeful in the end, but we have to go through rebooting system. let me ask for final thoughts here. dont talk about the macro. talk about the micr of ...