March 17, 2021 - Bannon's War Room
48:42
Participants
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...killed more than 100 people in China, and new cases have been confirmed around the world. | |
| So you don't want to frighten the American public. | ||
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unidentified
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France and South Korea have also got evacuation plans. | |
| But you need to prepare for and assume... Broadly warning Americans to avoid all non-essential travel to China. | ||
| This is going to be a real serious problem. | ||
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France, Australia, Canada, the US, Singapore, Cambodia, Vietnam, the list goes on. | |
| Health officials are investigating more than 100 possible cases in the US. | ||
| Germany, a man has contracted the virus. | ||
| The epidemic is a demon and we cannot let this demon hide. | ||
| Japan, where a bus driver contracted the virus. | ||
| Coronavirus has killed more than 100 people there and infected more than 4,500. | ||
| We have to prepare for the worst, always. | ||
| Because if you don't, and the worst happens... War Room. | ||
|
unidentified
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Pandemic. | |
| Here's your host, Stephen K. Bannon. | ||
| Okay, welcome live from Washington, D.C., an occupied Washington, D.C., 69th day of the occupation. | ||
| Raheem Kassam, how many days without an unaccompanied press conference? | ||
| 57. | ||
| And it's supposed to take place on the 25th? | ||
| 25th, eight days away. | ||
| Eight days away. | ||
| If it's three minute, if the Stephanopoulos is any example of, what's your assessment of that? | ||
| Well, I wasn't sure what the Stephanopoulos thing was, because it looked like two five minute clips. | ||
| Lots of things that were just cut together. | ||
| That was the interview. | ||
| That was the big sit down. | ||
| Slightly edited. | ||
| Is that big in Stephanopoulos world? | ||
| That's big in Biden world. | ||
| OK, you're in the War Room. | ||
| It's Wednesday, the 17th of March, Year of Our Lord 2021. | ||
| Yes, it is St. | ||
| Paddy's Day. | ||
| With over 41 million downloads in the podcast. | ||
| Of course, we're live in the John Frederick's Radio Network. | ||
| Nationwide, want to thank our new station in Atlanta, WMLB AM 1690 in Metro Atlanta, also Real America's Voice. | ||
| Up on the satellite, Dish Channel 219, Comcast on cable, Channel 113, on Roku, Vizio. | ||
| Pluto all of it get the real America's voice app To get constant coverage following the new John Frederick's show just broke outside the beltway I was honored to be the first guest on the John Frederick show want to say thank you big show today want to start with a a guy who is in the inner circle of President Trump's Thinking about the economy, that would be Steve Moore, who really needs no introduction. | ||
| People have seen him for years and years and years on Fox, on Fox Business, on CNN, all over, but a counselor to the president on the economy. | ||
| Steve, I want to have you on today, and I thank you for jumping in here and changing your schedule around today because they had a vote over there. | ||
| This is about something, and we're doing a special tomorrow. | ||
| We're kicking off our coverage of 2022 by doing the Road to 22. | ||
| Talking about the predicates that have to be laid to really have the type of sweeping Tea Party victory we had in 2010, really the midterm of President Obama when he had the $800 billion bailout package given the financial crisis of 2008. | ||
| Today, the earmarks, something that the Tea Party movement and the Freedom Caucus and people fought for years was kind of voted back in. | ||
| Tell us, what is the importance of earmarks? | ||
| Why is symbolically this such a big deal? | ||
| Well, it is a big deal to fiscal conservatives because as Tom Coburn, the great former senator from Oklahoma who recently passed away, but really one of the great taxpayer heroes, used to say that Um, earmarks were the great gateway drug to, you know, more and more spending. | ||
| And I think he was right about that, that, uh, the, you know, the, the amount of these projects are sometimes two or five or 10 or $50 million. | ||
| And given that we're talking about the budget now and the trillions of dollars, that may not seem a lot of money, but what they do is they use these earmarks, the, the leadership, uh, of either party, Democratic or Republican party to get the rank and file to vote for these bills. | ||
| They basically bribe them by giving them these earmarks and these bills so they can go back to their districts and have the ribbon-cutting ceremony and say, look, I brought this daycare center, or I brought this museum, or I brought, you know, this road back to the district. | ||
| And so it becomes a free-for-all, and what was happening with earmarks is that there were thousands of them, thousands and thousands of them, and people were disgusted. | ||
| You remember, do you remember Steve Bannon, the bridge to nowhere in Alaska? | ||
| Remember that one? | ||
| Oh, sure. | ||
| There was a $400 million bridge and 60 people lived on the island or something like that. | ||
| And so that drives people crazy and they get really angry about it. | ||
| Now, I want to make another point, which is that as a political matter, Steve, I think this is catastrophic, catastrophically stupid for the Republicans to be doing this. | ||
| You mentioned the Tea Party movement back in 2010 when Republicans won what? | ||
| Fifty, I forget the number. | ||
| Sixty-two seats in the House, the greatest victory since the Great Depression. | ||
| I mean, every Democrat, you know, from local dog catcher to governors lost their races because People were so angry about the runaway spending. | ||
| And I believe if we stay on the course we're on right now for another year and a half, you're going to see another massive blowout against the Democrats as well, unless the Republicans start going along with it. | ||
| And if they start seeing me too, then the Republican voters are just going to be dispirited and disheartened, and they won't show up. | ||
| So Steve, let me just play devil's advocate for a second. | ||
| I know you're working with the FreedomWorks guys, Adam Brandon and the great team over there, and they are fiscal hawks. | ||
| They're balance sheet, the Fed hawks, spending hawks. | ||
| Isn't that, doesn't, didn't the world change after January 25th when we started the show when the pandemic came? | ||
| I mean, we've had what, with the $1.9 trillion, it's what, $5 trillion to kind of bridge this drop in aggregate demand. | ||
| Almost six. | ||
| They're talking about another two in infrastructure, another two in maybe a combo platter of Green New Deal, so maybe another four to come. | ||
| We've blown out the battle sheet of the Fed. | ||
| You're talking about a period of time that's, it's almost quaint the way you talk about this, right? | ||
| Because aren't we in an era that Thomas was a pickety, the French economist who was all mocked and ridiculed about modern monetary theory? | ||
| Aren't we in a new era, given what happened with the CCP virus, the COVID virus? | ||
| I mean, we've put, what, $6 trillion of deficit spending. | ||
| If you look at earmarks, it's marginalia. | ||
| I mean, don't get me wrong, I understand the impulse and I understand the great fights. | ||
| Remember, we had epic battles over this. | ||
| 10 years, but Obama's $800 billion looks almost quaint when we talk about it. | ||
| Just doesn't the law of large numbers start to come in here that and we know we have uncharted territory. | ||
| It's so dangerous where we're heading and people of both parties in the mindset of the city. | ||
| This city is now Steve. | ||
| We just had 1.9 trillion. | ||
| I was going crazy, but there was no opposition to it. | ||
| Politico is now got a story today. | ||
| The lead story saying, hey, the Republicans, this thing really passed without a peep. | ||
| With no organized effort of the outside groups, no organized effort of the RNC, are we in a different era? | ||
| And is that era just dawning of just not massive government, but massive, massive deficit spending and a whole new reinterpretation of what is money? | ||
| There's a lot there to chew on. | ||
| I'll say this, that first of all, I do not believe that Americans have socialism in their DNA. | ||
| I mean, I think we're just against it for both practical and philosophical reasons. | ||
| We don't want the government running our lives. | ||
| And the more the government spends, the more it has control of our lives. | ||
| I loved what Ronald Reagan used to say, that a government big enough to give you everything you want is big enough to take everything you've got. | ||
| And you mentioned the $2 trillion, $2 to $3 trillion more spending that is coming down the pike. | ||
| Well, don't forget, Steve, there's also a $2 trillion tax increase on investors, on small businesses, on American corporations, on an energy tax that will affect Every American of whatever income they are. | ||
| And so, you know, you got to pay the piper. | ||
| That's my point here. | ||
| At some point, you can borrow and borrow and borrow. | ||
| But at some point, every businessman and household knows, you know, if you've got a massive mortgage on your house and you don't have the income, what happens is the interest payments get higher and higher. | ||
| And what worries me is that we're going to just be paying more and more of our taxes in the next 25 years, because this is a generational thing. | ||
| This is going to take at least one, maybe two generations to pay this off. | ||
| And we're going to pay more and more of our taxes over the next 25 years just to pay the interest on the debt. | ||
| In other words, we won't be getting bridges, we won't be getting healthcare, we won't be getting schools, we won't be getting fire service. | ||
| We'll be paying more and more taxes to pay interest on the debt that we owe to China. | ||
| That seems like a really bad idea to me. | ||
| How are we going to, besides the two trillion dollar tax increase they're talking about, and you talked about this is multi-generational, and this is why I think you're seeing, this is why I call it a fourth turning, I think you're seeing a revolt of the younger generation. | ||
| But how do you think they're going to pay for it? How do you think they're going to pay for it right now? Well, first of all, let me say something because, Steve, I'm disgusted by this because young people seem to love this stuff. | ||
| You know, oh, it's free money. | ||
| You know, my 26-year-old came over for dinner the other night and said, I can't wait to get my $1,400 check. | ||
| I'm like, you know, at some point you're going to have to pay for that. | ||
| There's no such thing as free money. | ||
| I'm not going to pay for that, Steve. | ||
| You're not going to pay for it. | ||
| You and I are too old to pay for that. | ||
| It's going to be paid by that generation and that generation's children and so on. | ||
| And so I wish there were more opposition to young people because the joke's on them. | ||
| They're the ones who are going to have to pay the bill for this. | ||
| Look, the Fed will massively expand its balance sheet. | ||
| It's going to own more and more of the assets of this country, the mortgages, the municipal debt, the federal debt. | ||
| They're just buying it up. | ||
| By the way, when the Fed buys the debt that the Treasury issues to pay for all the spending, that's what third world countries do, Steve. | ||
| That's what Argentina and Bolivia... I just want to make sure, I want to slow down just a second, make sure our audience understands this. | ||
| In normal times, if you had a normal deficit, you'd be able to sell the bonds and you sell them to the Gulf Emirates, Japan, China, etc. | ||
| This is so huge that you can't go through a normal process. | ||
| It's too much for other people to finance, so therefore you almost have to create the money yourself just to do it. | ||
| Is that what you're saying, putting it on the balance sheet of the Federal Reserve? | ||
| Yes, it's called in the technical term for that is monetizing the debt. | ||
| So in other words, you pay for the debt by printing more money. | ||
| Now, Steve, you don't have to be a PhD in economics to understand what that means. | ||
| I mean, just this is why, you know, it's so disturbing that kids aren't learning history. | ||
| You know, that's not that's been a formula for financial crisis, devaluation of currencies. | ||
| Show me anywhere, Steve, where that story has had a happy ending, because I can't find one. | ||
| Well, they have the book, you know, it always, every time you go over 100% of GDP, you never come back, right? | ||
| The guys at Harvard wrote it. | ||
| But right now, besides you, and look, you've got Adam Braden, you've got Freedom Research, I don't see a massive blowback. | ||
| By those voices that have been out there traditionally to say, we just can't continue to do this and we've got to fight this, use every legislative trick we've got, we've got to be flooding the zone on Fox and all the other channels and in the war room, you know, banging away that here it is, the RNC is going to be putting out points. | ||
| Where are the economists of the right? | ||
| Where's the Arthur Laffer School of yourself that have been pro-growth guys? | ||
| Because right now what you're saying, if you monetize this debt, You're talking about years and years of, when the sugar high wears off, years and years of no growth, no opportunity, that these kids out there, these future generations don't have the opportunity future generations, past generations have had. | ||
| Well, I hope I'm wrong about that, but that has been the history of these kinds of massive borrowing sprees. | ||
| Very worried about this in terms of, you know, I care about my kids. | ||
| I want them to have the opportunities that I had. | ||
| You know, I've been really lucky in my life and have been able to, you know, do the things I love and make money doing it. | ||
| And, you know, I'm not rich, but, you know, I'm upper middle class and have a great lifestyle because this is a great country. | ||
| And I'm just disgusted by what we're doing to, you know, what great country leaves its bills to its children. | ||
| You know, we're supposed to leave a legacy of freedom and liberty and prosperity to our kids. | ||
| You know, there's that famous, you know, little clip from like a cartoon, and it has the man in the black suit walking up to a door and knocks on the door, and the lady answers the door, and there's some kids playing in the background. | ||
| And then the man says, look, ma'am, I'm from the IRS. | ||
| I'm here to collect the $150,000, your $150,000 share of the national debt. | ||
| And she said, I don't have $150,000. | ||
| And he says, I'm not talking to you. | ||
| $150,000 share of the national debt and she said to her I don't have $150,000 and he says I'm not talking to you I'm talking to those kids over there. I mean, that's just not a way to benefit future generations So, that's it. | ||
| Steve, how do people follow you on social media? | ||
| How do they get to you at FreedomWorks? | ||
| Because now people have got to get fully engaged in this. | ||
| How do they get access to you? | ||
| The most important thing is, Steve, we put out, and I know you get it every day, our Prosperity Hotline, which goes now to 75,000 people around the country. | ||
| You're going to love this, Steve. | ||
|
unidentified
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It's free. | |
| It doesn't cost a penny. | ||
| Newt Gingrich told me the other day it's the first thing he reads every morning. | ||
| And you can read it five or six minutes, but it gives you a good update of what's going on. | ||
| So just go to Committee to Unleash Prosperity and just sign up for it. | ||
| The only thing is, if you want to get it, you have to sign up for it. | ||
| It's free. | ||
| And so that's great. | ||
| And FreedomWorks does wonderful work, too. | ||
| They're organizing people around the country. | ||
| And Steve, I think you're going to see, you asked, where are the voices of opposition? | ||
| I've noticed, first, we were all just stunned by what Biden was doing. | ||
| And these guys are acting fast. | ||
| But now I think you've got people really concerned that these people are crazy, that we cannot count on the senator from West Virginia, Joe Manchin. | ||
| Yeah, we all thought, oh, he's going to save us. | ||
| He's not going to save us. | ||
| These guys are punch-drunk with power, and we have to fight back. | ||
| We gotta jump. | ||
| Steve Moore, we're gonna get the website up there so you can get the Prosperity Hotline every morning and read about it. | ||
| Steve, thank you. | ||
| Look forward to having you back. | ||
| Short break. | ||
|
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Peter Navarro next. | |
| Pandemic. | ||
| With Stephen K. Bannon. | ||
| The epidemic is a demon and we cannot let this demon hide. | ||
| War Room. | ||
| Pandemic. | ||
| Here's your host, Stephen K. Bannon. | ||
| Okay, we want to thank the team over at MyPillow.com and particularly Mike Lindell and the entire team up there in Minnesota. | ||
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| You've got the sheets, you've got the pillows, particularly the queen size. | ||
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| And they've got the slippers, the moccasins, the new items they're coming out with all the time. | ||
| We're actually going to have Melissa Hooray, I think we're trying to get Melissa Hooray in here at the 550 hour. | ||
| So my slippers are supposed to arrive soon, so I can give you a review. | ||
| I'll wear them into the studio, how about that? | ||
| You have not given your gifts yet to your fiancé? | ||
| I'm waiting for some scallops to be prepared for me, or some meal of some sort, and I will do an exchange. | ||
| Fantastic. | ||
| It's a power sharing. | ||
| Before I get to Peter Navarro, I want to ask you, because our young master Wallace, our producer, is still in shock. | ||
| From the last segment. | ||
| He's in what we call the mumble tank in the war room. | ||
| He can't, is, and listen, I know we have an audience that's closer to my age, a lot of the people there, and so, and the only guest we've ever had on the show that the audience hated was the author of the book about the boomers, right? | ||
| Oh my god, in the live chat, and by the way, everyone in the live chat. | ||
| However, is this going to get blamed on the boomers, Raheem Kassam? | ||
| Is the younger generation starting to point fingers now? | ||
| Well, I mean, the boomers are to blame. | ||
| But that's not to say that every boomer is a boomer, right? | ||
| Not every person born within that generation believes in mindless consumption and swathes of debt that are going to be lumped onto their great-great-grandchildren. | ||
| You know, boomerism applies to a lot of things. | ||
| Boomerism applies to use of technology. | ||
| And really, it's more of a mindset than it is of a generation. | ||
| So when you hear OK Boomer, and when you hear people talking about boomers, don't instantly jump to take offense. | ||
| That's a very boomer thing to do, you see. | ||
| It's not so black and white. | ||
| It's about the attitude. | ||
| But the attitude of boomers, the types of people who are behind this mass debt creation and the passing on of debt to the next generation, generation after that, I mean, they are probably going to end up as one of the most You know, regretted groups of people in American history because of this idea that you can just inflate and spend your way into prosperity. | ||
| And again, I don't even particularly think my generation is going to come to grips with it, let alone producer cameras generation or the one even after that. | ||
| What I'm worried about here now Is that we're in a position whereby actually everybody realizes the whole thing is a Potemkin village very, very soon. | ||
| And that can lead only to further carnage. | ||
| Okay, so this is one of the things, and by the way, most of the audience, the vast majority of the audience tunes in here to get information, knowledge, mental maps, so you can take action. | ||
| This is the power of this audience, is the human agency and human action. | ||
| Two things we're going to be talking about. | ||
| First, populism and nationalism and Trump and the CCP virus and China and on and on and on. | ||
| Two of the things we're going to start developing. | ||
| So you get the nomenclature, you understand process, statics and dynamics of the process, critical path, all of that. | ||
| One is transhumanism, right? | ||
| This kind of conversions of all these technologies and what comes and what this target is for what is beyond homo sapien. | ||
| The other is modern monetary theory. | ||
| This has been out there on the horizon for a while, but now you're talking about the type of fiscal policy that I think people have to come to grips with. | ||
| Exactly where are we headed on this? | ||
| And I'm not going to just simply blame the Biden administration for this. | ||
| It's deeper than that. | ||
| And we've got to come to grips with it, because it's going to have massive, massive implications for the world as we go forward. | ||
| So now I want to bring in, from a PhD, Harvard-trained economist, Dr. Peter Navarro, former assistant to the President, who's known as, really, the trade and manufacturing guy. | ||
| But I've got to ask you today about the Federal Reserve, and we just had Steve Moore on. | ||
| You know, Steve and the guys got worked up today because of this thing on earmarks. | ||
| Steve always gets worked up! | ||
| Yeah, it was one of the big battles we fought back at the beginning of the Tea Party. | ||
| But the reality is, it's kind of, you're kind of OBE, overcome by events. | ||
| So Peter, put us in where we're in. | ||
| I said, look, ever since the CCP virus hit, we've now, with the passage of this bill the other day, I think we're $6 trillion into the bridging mechanisms to bridge the drop in aggregate demand. | ||
| I mean, we're essentially in Brave New World right now, right? | ||
| We've never had to finance this type of debt. | ||
| We've never had to really think about it. | ||
| As an economist, put it in perspective for our audiences to begin to get their own mental map of this. | ||
| So let's remember that during Obama-Biden, the eight years of Obama-Biden, they started with the financial crisis, dramatic decline in growth. | ||
| Stock market crash and what happened over the next eight years trying to figure out how to get back to square one was literally a doubling of our debt. | ||
| Okay, we went from, this is astonishing, think about this Steve, 10 trillion dollars we started in 2009 with Obama and Biden and we went to 20 trillion. | ||
| Okay, in other words in eight years we doubled the amount of debt we had accumulated in more than 200 years. | ||
| So here's the thing that I'm worried about. | ||
| And it's the buried lead. | ||
| I think this whole stimulus package is predicated on the same wrong notion of Obama, Biden, that somehow all you have to do is throw money, throw money at the problem. | ||
| And we're going to get back to full employment. | ||
| Wages are going to go up and everything's going to be OK. | ||
| And then what the Federal Reserve did today was kind of kind of in concert With that, you know, there's people who are projecting an unemployment rate of four and a half percent and a growth rate of six percent and and like everything's going to be okay. | ||
| I'm not seeing it. | ||
| I don't think Cortez see it. | ||
| What I see is that the Chinese Communist Party had dealt the fundamental, harsh, structural blow to the way our economy is organized, particularly in our metropolitan areas where we have Even post-vaccine, let's say it works, we get herd immunity and everything's fine. | ||
| I don't think that the cities are going to come back the way they did. | ||
| I mean, we've learned different habits. | ||
| We've learned that we don't need these big commercial high-rise buildings. | ||
| We learned that, hey, maybe it's cooler to sit at home and work than to sit in a car for two hours on a freeway. | ||
| And there's also a class of people, Steve, and there are a lot of them deplorables, blue collar workers in service industries, in transportation, in the energy sector that Joe Biden's going to kill, who are going to be unemployable, structurally unemployable. | ||
| So I'm seeing two possible scenarios. | ||
| The best case scenario is all this money works. | ||
| And we have a fine economy, but we're deeply in debt and we crash later on. | ||
| Or, more likely in my judgment, we throw all this money at the problem, we don't understand what the problem is, and we wind up with stagflation that we talked about yesterday, which is what we had in the 70s, kind of this simultaneous inflation and recession. | ||
| So, this is a lot to parse. | ||
| For your audience for the Joe Biden economist but but my judgment after eight years of watching him back in 08 to 2016 is that they're not you know they've been weighed and measured and found wanting. | ||
| And and the problem that Biden has he's got the same set of clowns in. | ||
| Now that he had then, not just in his economic team, but his foreign policy team. | ||
| I don't expect a different result. | ||
| I think what we've got to do is buckle up here and figure out what's going on. | ||
| We'll be talking a lot about this, but that's kind of my chessboard read of this. | ||
| Very complicated stuff. | ||
| Very complicated. | ||
| That sets the framework for tomorrow in Alaska in the book Chaos Under Heaven by Josh Rogin of the Washington Post. | ||
| You're identified as one of the co-leaders of the Super Hawks, which is focused on taking down the Chinese Communist Party. | ||
| The other co-leader being yours truly. | ||
| As you see in Alaska tomorrow, they're kind of the messenger boys. | ||
| The National Security Advisor and the Secretary of State, really, with John Kerry and Susan Rice and others really calling the shots. | ||
| What do you anticipate? | ||
| Given this economic situation, and the Chinese know that they have to help finance this, they've got to buy a ton of these bonds. | ||
| When they show up in Alaska tomorrow, put us in the room. | ||
| Sure, and let me just say that I'm enjoying the Rogan Reed. | ||
| Every time I pop up in it, I'm not fighting the Chinese. | ||
| I'm fighting people like Mnuchin and Wilbur, who are helping the Chinese, or John Thornton, or whatever. | ||
| I mean, it's an interesting kind of thing that happened there, and we'll talk more about it later. | ||
| But let me go back to yesterday, which we had to rush this, but I want to explain What the underlying framework was for the deal that we were trying to strike with the Chinese, that we actually had a handshake deal in May of 2019, the full deal, and then that got broken down into the skinny deal. | ||
| And for your radio audience, I'm going to walk you through this, but visually, what we've got here is what I called the famous beatdown With Chris Wallace on his Sunday show, China's seven deadly sins. | ||
| So what do we want to stop China from doing? | ||
| Stop stealing our intellectual property, force technology transfer, cut that out. | ||
| Stop their state-owned enterprises from receiving the heavy subsidies they do. | ||
| Stop hacking our computers, stop dumping into our markets, stop the currency manipulation, and Lord Almighty J.D. | ||
| Vance, stop that fentanyl coming into our communities and killing 50,000 Americans a year. | ||
| Now, since that time, Steve, since the time we sat down with them and they really wouldn't negotiate on any of this and the skinny deal You know, only hits less than half of those seven deadly sins. | ||
| We've added a couple more deadly sins. | ||
| First of all, the Wuhan lab. | ||
| Thank you to Dr. Anthony Fauci. | ||
| ...has managed to either accidentally or on purpose start a global pandemic that is just gutting this country's fiscal and monetary sense. | ||
| So that's the eighth deadly sin. | ||
| We want to know where that virus came from. | ||
| Dr. Navarro, hang on one second. | ||
| I'm taking a short commercial break. | ||
| Pay some bills here. | ||
| We're going to come back, talk to Dr. Peter Navarro in the War Room. | ||
|
unidentified
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Pandemic. | |
| With Stephen K. Bannon. | ||
| The epidemic is a demon and we cannot let this demon hide. | ||
| War Room. | ||
| Pandemic. | ||
| Here's your host, Stephen K. Bannon. | ||
| Okay, the last year has taught us that it is all about the immune system. | ||
| You have to boost your immune system and only you can do it. | ||
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| Learn all about it and get your free vitamin D3 and your zinc. | ||
| Before we turn it back to Dr. Peter Navarro. | ||
| I don't think there's anything besides transhumanism that we will be addressing in the next couple of weeks and months in the show that's going to have more fundamental change in the finances of the United States of America. | ||
| And right now, we are in uncharted territory, ladies and gentlemen. | ||
| They got the great book, and I forget the author's name, because this time it'll be completely different. | ||
| Which people historically, nations historically, say, oh, we put this debt, this is going to be completely different. | ||
| I think there's absolutely 100%. | ||
| Once the debt gets above 100% of the GDP, right, you never return to that economy. | ||
| Your economy basically gets shredded. | ||
| Rahim, does younger generation, you think, fully understand that we're now in uncharted territory? | ||
| And quite frankly, heading down more rapidly to uncharted territory as they're talking about a $4 trillion infrastructure plan that's about to come in the summer and fall of this year? | ||
| The younger generation doesn't even understand that it's not supposed to take, you're not supposed to take naked pictures of yourselves and sell them on the internet. | ||
| So the answer to that question is absolutely no. | ||
| And to lump me in with that, you know, I would argue that I don't really understand a lot of this world and a lot of the, you know, the debt instruments that you guys talk about and the financing, you know, all these different words and terms, because you've got to remember, Well, you may have grown up reading the Financial Times and the Wall Street Journal. | ||
| My generation, to a far lesser extent, did that. | ||
| And the next generation after me are just not doing that, right? | ||
| So even if you were just trying to maintain a cursory understanding of how all of this stuff works, the answer is we don't have any. | ||
| And that's probably a good thing and a bad thing. | ||
| I think that if more people did understand quite how it worked, you may have far more than one capital riot on your hands. | ||
| You know what I mean? | ||
| If these people understood just how frequently they are being, and their futures are being shafted. | ||
| Being mortgaged. | ||
| Mortgaged. | ||
| Just ripped away from them. | ||
| Then I suspect that there would be a lot more depressed people, a lot more bad things happening out there. | ||
| Now the bad part of it is obviously this, right? | ||
| Just to conclude that thought, the bad part of it is this. | ||
| None of us are going to be prepared for the worst, should the worst happen. | ||
| And the worst could range from any number of situations. | ||
| I think a lot of people are putting their eggs in the basket of blockchain to kind of prove the lack of efficacy of the fiat currency and monetary system as it is now. | ||
| But I don't know if even the most optimistic of people will tell you that that is a realistic revolution we'll see in our lifetimes. | ||
| I think you can see this in the Reddit, in what I call the rebel trading, when they've broken off and gotten to these situations where they're in these trading accounts, and people are saying, oh, that's not how stocks traditionally trade. | ||
| Guys, people are in Bitcoin, now you get NFTs, what non-fungible, the non-fungible tokens, the tokenization of everything that people, some people understand, other people understand less, but people are looking and searching for, whether it's blockchain technologies, etc. | ||
| Something to explain, where they feel they can start to drive some value because they can't see it in what I call the analog world or the real world. | ||
| And how do you address socialism as a philosophy if that generation thinks that everything is basically worthless anyway? | ||
| Look, the NFT thing is really interesting. | ||
| I saw today somebody was paying for a tweet about a tweet about a tweet about NFTs. | ||
| A token of a token of a token of a token, effectively, was being bartered on the internet. | ||
| Which, at that point, again, what is anything? | ||
| I do disagree with Steve Moore and I disagree with the Republicans that are trying to make this socialism versus capitalism. | ||
| I do think that they're looking at the Chinese model that state capitalism combined with authoritarian government is what the model they want, right? | ||
| A handful of big companies, a handful of people making tons of money, and the rest are just kind of, you know, Lao Bajing. | ||
| They're just old hundred names, right? | ||
| Let's go back to, and by the way, you saw this in the Project Veritas's great get of the senior Facebook executive. | ||
| When he started talking about not how they helped steal the election with the four million, four and a half million signups. | ||
| When he started talking about where Zuckerberg and his wife spend their time, which is basically on transhumanism. | ||
| He got to eugenics word and he was the first one to say, hey, it's like in China. | ||
| They think you are just essentially ants. | ||
| If they got to step on and kill hundreds of millions of ants, hundreds of millions of ants get killed. | ||
| That's not a problem. | ||
| They don't think twice about it. | ||
| Let's go to Dr. Peter Navarro. | ||
| Dr. Navarro, you're in the room with the Chinese Communist Party tomorrow in the negotiations. | ||
| They are sitting there understanding that the U.S. | ||
| is blowing up their balance sheet. | ||
| Right. | ||
| And I think these guys have very shaky finances. | ||
| But to a degree, sir, we can't monetize all that debt. | ||
| There's some point you're going to have to sell bonds to our greatest enemy and they're going to have to buy the bonds. | ||
| What kind of situation are we backing ourselves in geostrategically in a financial corner? | ||
| Steve, I think there's been a line of thinking for over a decade that somehow we need the Chinese to buy our bonds and that when they do that and they hold our debt, they have kind of the nuclear option, they've described it as such, to basically blackmail us to let us, let them continue having their way with us. | ||
| I think that's a legitimate concern at some level, but here's what has to happen. | ||
| This just has to happen in this country right now, in Alaska and beyond. | ||
| The seven deadly sins are totally unacceptable. | ||
| Concentration camps in Xinjiang province where you've got two million people under the worst possible kind of conditions. | ||
| That's unacceptable. | ||
| The Chinese are doing that. | ||
| What China's doing to Hong Kong is unacceptable. | ||
| What China may try to do to Taiwan is unacceptable. | ||
| If the Biden administration, if their foreign policy and economic policy advisors do not understand that China has been coming for us, It's an existential threat and we need to stand up to them. | ||
| Then all hope, you know, this is like, this is like Milton's Paradise Lost. | ||
| Abandon all hope ye who enter here. | ||
| I mean, so Blinken, Sullivan, Biden, Harris, I think we'll learn a lot over the next week or two. | ||
| The comment that Joe Biden made about Leaving alone the concentration camps in Xinjiang province because China can do that because of cultural differences. | ||
| I mean that that sickened me to the very pit of my stomach. | ||
| So this is difficult. | ||
| The other thing I would say about this whole debt issue is there is a silver lining here that could be very dangerous in the short run but We have this expression in macroeconomics, inflate the debt. | ||
| I mean, one scenario is to simply let inflation run for three or four years into the double digits and that Debt that we have essentially gets discounted and devalued and it's kind of like a reset. | ||
| And that might be a strategy that might unfold over time. | ||
| So, all in all, we're in very dangerous, dangerous waters right now. | ||
| And I get back to the ideas. | ||
| Please understand this structural issue we're facing. | ||
| This virus has created long-term structural adjustments in the economy That I don't see us getting back to Kumbaya. | ||
| With the kind of stimuluses we're throwing at, even in the best case scenario. | ||
| So, let's see what happens in Alaska. | ||
| Hang on, hang on. | ||
| You're saying $1.9 trillion? | ||
| Sir, that was bigger than the entire national debt at the beginning of the century. | ||
| The century, I think, was $1.5 trillion. | ||
| You're talking about the $10 trillion, or it's $5 trillion. | ||
| talking about the $10 trillion that or is $5 trillion? | ||
| Bush added I think $5 trillion. | ||
| Here's an important point, Stephen. | ||
| Elections are about choices. | ||
| Stolen elections have consequences. | ||
| We had a $2 trillion package. | ||
| President Trump had a $2 trillion package. | ||
| The difference between the Trump package and the Biden package is that about a trillion of that was dedicated to bringing back our manufacturing onshore to create Good paying manufacturing jobs for people who work with their hands so that they can drive their real wages up and we could have a solid manufacturing base both for our economic security and our national security. | ||
| That's a structural use of a stimulus package. | ||
| That's not what we're doing here. | ||
| We're just giving away money. | ||
| We're bailing out deep blue states. | ||
| We're squandering money in a way that's basically going to facilitate the flow and flood of illegal aliens into our sanctuary states and cities. | ||
| All of that goes wrong. | ||
| See, I don't care how much it is. | ||
| All of that goes wrong. | ||
| You can spend two trillion dollars and address structural issues, Build your economy, build your manufacturing base and get through that. | ||
| But that's not what Biden and Obama is doing. | ||
| And that's, I mean, this election was about so many things. | ||
| But if you just take that metric of what that $2 trillion package looks like under Biden versus what it would have looked like under Trump. | ||
| And boy, I fought for that. | ||
| And there were people inside the White House who stopped that from happening. | ||
| Well, Nancy Pelosi. | ||
| But the difference between those packages It's night and day, prosperity and poverty. | ||
| And these are, again, choices. | ||
| And again, we've weighed and measured the Biden economic team and they have come up wanting. | ||
| They will continue to do so until they get this structural economic problem message. | ||
| OK, how do people follow you during the day? | ||
| How did they get to the Navarro reports? | ||
| PeterNavarro.com. | ||
| It's got the election irregularities report, the immigration report. | ||
| And some really great stuff on it. | ||
| Real pinavaro on Twitter, although I'm trying, urging everybody to, as Rahima said, to wean themselves from Twitter and Facebook and get onto as many other platforms that are out there that won't be censoring you randomly. | ||
| We know Zuckerberg, that yesterday was a bombshell with Zuckerberg and Facebook essentially using the corporation to interfere and intervene in a presidential election. | ||
| So, yeah, P.K. | ||
| Navarro on Twitter, PeterNavarro.com. | ||
| Admiral, it's been a pleasure as always, sir. | ||
| Thank you very much, Dr. Navarro. | ||
| Thank you, Joanna Miller. | ||
| Okay, before I turn to Rahim Basamah, we're sitting down tomorrow with the greatest killing machine in human history, the Chinese Communist Party. | ||
| Always remember, And this is about Asians being targeted. | ||
| The Chinese people have been the greatest victims of this killing machine. | ||
| This is a killing machine that has killed more people than any apparatus on the face of the earth. | ||
| The transnational criminal organization has destroyed, tried to destroy Chinese civilization and the Chinese people. | ||
| They've borne the brunt of that. | ||
| That's why Lao-Beijing, that's why we have such a big audience in China, because we stand up for the voice of the little guy in China. | ||
| Is this what you think is happening with all this stuff around Asian Americans now, and the jump to call everybody anti-Asian American is actually to distract from the fact that the left has sided with and abided by the demands of the Chinese Communist Party? | ||
| It's the establishment, it's the elites. | ||
| The elites have sided with their business partner. | ||
| The party of Davos' business partner is this killing apparatus of the Chinese Communist Party. | ||
| That's why they're always making excuses for us. | ||
| They're always trying to misdirection play. | ||
| They fail to understand that this is not about China. | ||
| It's not about the Chinese people. | ||
| The Chinese people are the biggest. | ||
| Stephen Mosher said it best. | ||
| 400 million forced abortions, right? | ||
| Hundreds of millions killed through famine and the Cultural Revolution and the oppression. | ||
| It's the greatest killing machine in the world. | ||
| And the biggest victims of it are the Chinese people. | ||
| That's why there's 200 million people, Rahim, Throughout the war, the diaspora is 225 million people, 250 million people that are looking to be free and to fight that. | ||
| And that's what the war room and the new federal state and all that is to do. | ||
| But I think you're right. | ||
| I think it's a misdirection play, right? | ||
| And we're going to fight that tooth and nail. | ||
|
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The Chinese Communist Party, the greatest killing machine in human history. | |
| We're going to be back talking about true grit on the other side of a short commercial break. | ||
|
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War Room Pandemic with Stephen K. Bannon. | |
| The epidemic is a demon and we cannot let this demon hide. | ||
| War Room Pandemic. | ||
| Here's your host Stephen K. Bannon. | ||
| We were trying to get Michael Yan, our reporter down in Panama, but we had a technical problem with the satellite. | ||
| We're going to get Michael hopefully tomorrow for the 10 a.m. | ||
| show, so make sure that you're around to see that. | ||
| In addition, we're going to try to get Melissa Herre from the Lindell Recovery Network on here momentarily as soon as we work out some technical issues with her. | ||
| Rahim, the situation in Atlanta, that's why people have to keep their eye on the ball here. | ||
| This is not about the Chinese people, not about the Asian people. | ||
| They're the victims of the Chinese Communist Party that have victimized these people now for going on over 70 years. | ||
| And yes, I understand Governor Abbott of Texas is sending them a congratulatory message. | ||
| A letter on the 70th anniversary of their regime, but it's not appropriate. | ||
| This is a killing machine. | ||
| The Biden administration, which is feckless too, as National Pulse has been reporting. | ||
| The two individuals in the room tomorrow, the key individuals, Jake Sullivan from Harvard, from the Belfort Center, they're taking money from the Chinese Communist Party. | ||
| You've got Tony Blinken from the University of Pennsylvania, he's helping the Biden Center there, taking money from the CCP. | ||
| I don't think Raheem totally, fully disclosed today. | ||
| We really don't know what they've got. | ||
| They're in the room with a couple of hammers, right? | ||
| And really, I think, compromised. | ||
| And all they're going to sense is weakness. | ||
| Now we're in increasingly, increasingly, and I don't care how good the sugar high is going to be. | ||
| How we think through the balance sheet of the Federal Reserve relates directly to your personal life, directly to your mortgage, to your credit cards, to the job availability, to the amount of money we can fund back into capital expenditures to build this economy and capital equipment. | ||
| All of it flows back to this and we are going into uncharted territory and that's why I think the Politico story was so important today because it kind of said there really hasn't been a counter narrative of this Among the conservatives and quite frankly even the Trump movement hasn't been a counter narrative to this to really put it kind of not box the Biden administration in but kind of put in high relief exactly what they're trying to do. | ||
| Yes, to all of it. | ||
| But there's a couple of other things as well that I think are really important to mention. | ||
| We're coming up on the end of the show, we need to get Melissa in as well. | ||
| I can't speak... I don't know if we have her. | ||
| I'm really terrible at speaking to the financial elements of it. | ||
| Don't worry about it. | ||
| But I want to bring the audience's attention, so I'm going to just pivot away from that if you don't mind. | ||
| Yeah, just go ahead. | ||
| And I'll be honest about it. | ||
| And I want to talk a little bit... Every time I talk about finances, you get nervous. | ||
| Oh, my eyes just glaze over. | ||
| Glaze over. | ||
| Glaze over. | ||
| I can't do it. | ||
| Why is there so many people in your generation like that? | ||
| We never dealt with numbers. | ||
| You know? | ||
| Maths was all on a calculator for us. | ||
| No, seriously. | ||
| Every time I talk finances, the guys is like... Do you remember the math teacher always said, oh, you know, don't use the calculator. | ||
| You're not always going to have one in your pocket. | ||
| Well, guess what? | ||
| You know? | ||
| No, here's the thing. | ||
| There's a couple of things that are really standing out to me at the moment. | ||
| One is this Biden gag order now applying to border agents. | ||
| So they're telling border agents, hey, you can't talk to the press, effectively. | ||
| President Trump never had that. | ||
| By the way, he was the first one that was supported by the unions down there that said, hey, we support you. | ||
| We endorse you. | ||
| How did the press react? | ||
| When whistleblowers were asked to go through the proper process in the administration rather than go running to the press. | ||
| They say, oh, you're a fascist, you're trying to stop people whistleblowing. | ||
| Biden is stopping Customs and Border Protection agents talking to the press with a gag order, right? | ||
| And we're hearing not a peep yet. | ||
| But that tells you how bad the situation is down there, doesn't that, sir? | ||
| Oh, now I'm wondering if it's not two or three times even worse than we understand. | ||
| Why else would a central government edict have gone out to tell folks who are dealing with it on site, shut your mouths. | ||
| Why else? | ||
| And one of these things as well that I think is really interesting, well, two things real quick. | ||
| One is the Washington Post finally did get back to me. | ||
| I sent them the email about their phony fake news story saying, you know, can you confirm it was a single source? | ||
| They tade a bugger off? | ||
| Well, in Washington Post terms I suppose it was. | ||
| But the fact that they're replying, the fact that the Senior Vice President for Communications is replying to me on this shows... They respect the national pulse, yes. | ||
| Maybe respect it, maybe fear it, maybe understand that, you know, that we're not going anywhere. | ||
| So they said, I asked them, hey look, why aren't you retracting this? | ||
| Not correcting, retracting. | ||
| You publish fake news. | ||
| It was in the headline. | ||
| It was a key thesis of the piece. | ||
| You have to retract. | ||
| That's not a correction. | ||
| You didn't misspell someone's name. | ||
| And they come back with, quote, we corrected the story and published a separate news story last week at the top of our site and on the front page after we learned that our source, had not been precise in relaying then-President Trump's words. | ||
| We are not retracting our January story because it conveyed the substance of Trump's attempt to influence the work of Georgia's elections investigators. | ||
| So now here's the deal. | ||
| Whenever I write a story now, I'm not going to try and report the truth. | ||
| I'm just going to try and portray the substance. | ||
| Okay? | ||
| Do you buy that? I don't think it portrayed the substance. | ||
| It doesn't portray the substance at all. | ||
| It actually completely belies the truth behind all of this, which is that Trump didn't order a finding of fraud or an invention of fraud. | ||
| He asked the person in charge to do their job. | ||
| That was all that phone call amounted to. | ||
| And the substance of theirs was that he should essentially be indicted. | ||
| Another perfect call, by the way. | ||
| Another perfect call. | ||
| That's a trio now. | ||
| But interesting, isn't it? | ||
| The language that they used. | ||
| After we learned that our source... | ||
| I know you've called him out for this, but have they come back on a story that was part of his second impeachment, part of the evidence put forward, and triggered what is now a DA down there with a grand jury we hear trying to work up some indictment of the president? | ||
| Have they come back and answered you the basic question, how did the Jeff Bezos, Democracy Dies in Darkness, Amazon, Washington Post, go with one source on a story this magnitude? | ||
| So the question I asked them was, can you confirm that you used a single source? | ||
| And they didn't answer that question, but the substance of their answer, to use their phrase, is they confirmed that it was a single source because they said, our source. | ||
| Right? | ||
| So that all but confirms it. | ||
| I mean, that's a 99% confirmation. | ||
| You can't say you used the singular source twice and it meant sources. | ||
| No. | ||
| So you single-sourced that story. | ||
| So now I raise an article on our breaking section on the National Pulse. | ||
| I raise, hey, so is the Washington Post going to be suspended from social media? | ||
| Are the fact-checkers going to downrank them on all these, you know, independent fact-checking websites? | ||
| Is Facebook going to put a veneer over the Washington Post page? | ||
| Did Vindman sue you yet? | ||
| I'm waiting. | ||
| Has his lawyer reached out to you? | ||
| No, and it's... I guess we're at the end of the business day. | ||
| Give me the soccer phrase again. | ||
| What's the soccer phrase? | ||
|
unidentified
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Come and have a go if you think you're hard enough. | |
| Vindman! | ||
| Colonel Vindman! | ||
| You gotta man up, right? | ||
| You gotta act like an army colonel. | ||
| This guy's called you out. | ||
| Okay, we're gonna be back at 10 a.m. | ||
|
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tomorrow. | |
| Real quick, what was the podcast about? | ||
|
unidentified
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No podcast today. | |
| Oh my lord. | ||
| We're breaking news! | ||
| Go to thenationalpulse.com! | ||
| That's what you gotta do, okay? |
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