Glenn Beck warned that "something bad is coming our way" as the Dow Jones industrial average fell more than 1,000 points in early trading Monday morning.
"The toolbox is empty," Beck said on his radio program. "We had the rescue packages, the credit guarantees, quantitative easing, zero interest rate policy. Right now, we're almost at zero. We have taken every new program we could. ... There's nothing left for the Federal Reserve to do."
Beck said he doesn't believe the "lights-out event" in the stock market will happen today. Rather, he predicted "it will come down and it will go back up a little bit, and then it will go down."
"It will just keep taking money off of the table, just keep it coming off the table," he summarized. "Not good."
Beck said he believes there is "something in our collective conscience ... telling people all around the globe, 'Something bad is coming our way," and he believes "everybody feels it."
"Here's what I would suggest you do," Beck continued. "I would suggest that you pay attention to what is in your 401(k). You make sure that there is some sort of stop on your 401(k) so you can't just lose everything."
"I would highly suggest that you have enough cash for a week," Beck added. "There is going to come a time when things just stop working and they shut everything down and they stop a run on the bank and everything else. And I don't think we're there. But I would suggest that you have a week's worth of cash on hand."
Beck said he doesn't believe the banks will close today, but it "will happen at some point" and you should be prepared when it does.
"We have seen this happen recently in other countries, where they just limit the amount that you can take out," Beck remarked. "So everybody just gets $200, you know, every couple of days. You can have $200, but that's it."
Beck also encouraged his audience to make sure they have 72 hours of food on hand, as well as guns and ammunition.
"How are you doing with God?" he asked. "Those are all the doomsday things to do, but if you have any those unchecked on your list, I would make a point to start doing those today. We are headed for trouble."
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