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Jan. 7, 2022 - Bannon's War Room
48:50
Episode 1,544 – Bidens Economy Implodes; Revolt Of Donor ClassEpisode 1,544 – Bidens Economy Implodes; Revolt Of Donor Class
Participants
Main voices
s
steve bannon
17:47
s
steve cortes
11:24
Appearances
j
joe scarborough
01:06
Clips
m
mika brzezinski
00:24
| Copy link to current segment

Speaker Time Text
unidentified
footage of what happened on January 6th. We have proof Dwight Eisenhower during World War II made sure all the Holocaust camps were filmed.
So we've got the film footage. So now we're combating conspiracy theorists, deniers, and some, you know, trumpeteers. But my worry is what do we call this and make sure we honor this day, this dark, stained day every year.
So we've got to keep saying January 6th.
I think it is like December 7th, Pearl Harbor.
It is like the 9-11.
joe scarborough
Well, I thought a beautiful moment yesterday, Jonathan O'Meara, that I think really explains where defenders of Western democracy or American democracy.
That moment when Speaker Pelosi came over and shook Dick Cheney's hands.
Two people that had very little in common politically, who were fighting each other politically throughout their public lives, but fighting each other within the guardrails of Madisonian democracy.
Uh, though both believe the other had views that were not good for America, they believe that you debated those views within the guidelines of the Constitution, where the guidelines of separation of powers into the Constitution meant what it said.
mika brzezinski
Two things go hand in hand.
If you were hoping today was about bringing closure to a horrific event, think again.
To borrow another phrase from an American winner, it ain't over till it's over.
And Matt, in a sense this was an extremely clear but also very simple speech by President Biden.
unidentified
Absolutely.
I think one of the big messages was that Barack Obama, another winner, said, I won, you lost.
I criticized Obama for that at the time, but Joe Biden waited a year to say this.
And I think it's just an acknowledgment that you can't ignore Donald Trump and Donald Trump's lies.
It just doesn't work because they fester.
Now I think that experience has shown us that there's a wrong way to challenge Trump.
You don't want to elevate him too much.
You also don't want to like wrestle with the pig in the mud because the pig likes it and you just end up muddy.
So I think the way Joe Biden did it, the right timing and the right tone, it was incredibly Thoughtful and serious and well laid out.
I think he prosecuted the case and demonstrated vigorously that Donald Trump lost the election.
And I think he did it in a manner that was strong.
And I think this is really important.
You know, Bill Clinton said it's better to be strong and wrong than right and weak.
In this case, Biden was strong and right.
I think when it comes to defending liberal democracy, just historically speaking, liberals, and by liberal I don't mean progressives, I mean people who are defending liberal democracy, liberals have too often come across as weak in the face of fascism and other more dynamic forms or alternative governing systems.
joe scarborough
I think that what Biden did It's like this looking like full employment and yet these numbers we gotta say are actually worse than they look because this is before Omicron hit.
unidentified
Joe, no matter what we say right now, here's what's going to happen.
The people who like us are going to say, they're absolutely right!
And the people who hate us are going to call us complete moron dunces.
But you already said it right there, 199,000.
That's a low number.
That is amiss.
And actually, the November number did get revised up, but not as much as we thought.
So when you look at that number clean, It's not that great, but the overall picture, you're right, unemployment down to 3.9%.
We saw a huge amount of jobs created over the last year.
We are clearly in an economic recovery.
Omicron is going to slow it down, not because hospitalizations and deaths are up so much.
Omicron is slowing it down simply because over this month, look at even all of us, all of these businesses that we're supposed to, everybody get back in the office, early January, mid-January, that's not happening.
And that impacts every cafeteria, every coffee shop, every neighborhood business.
So this is just sort of lingering on.
We thought we were going to get a bigger number.
We didn't.
It's a surprise, but it's not to say, oh my gosh, the economy's in trouble.
It's definitely not.
steve bannon
If that's the best you got, bring it.
That hapless, feckless old man wandering around there with the mask on, if that's the best you got.
Mike Allen, who's the corporate media's, the corporate oligarchy's.
Uh, mouthpiece here over at Axios.
Biden's fiery 2024 preview.
Bring it, baby!
That's the best you got.
No Stephanie Ruhle, you're dead wrong.
America doesn't like it.
The numbers are coming our way.
You know why?
The nation, we've got, we've got this little platform.
What do you got?
You got all the tech oligarchs, you got all the media, you got everything.
Right now, 40% of the American people, and that's including Democrats, believe he's illegitimate.
Over 50% of independents believe he's illegitimate.
Heck, they never argued about the legitimacy of Abraham Lincoln.
We've never argued about the legitimacy of a president until now.
You know why?
Let me give it to you with both barrels.
Trump won.
Biden's illegitimate.
This is a complete clown show.
You guys run around.
And here's the thing.
We want you to talk about January 6th every day.
Keep talking about it.
All the polling showing people want to know about the economy, they want to know about jobs, they want to know about your hapless handling of COVID-19.
When you knew the Omicron, when some other mutation had come in September, you said, no, we don't need any testing.
We want to know about Buttigieg and around the capital city.
You can't travel, right?
Six inches of snow shuts this thing down.
You've ruined Christmas.
You've got no supply chain.
You're burning through money and you've got to keep quantitative easing.
That's what they want to know.
About their jobs, their family, the southern border.
Okay?
But we want you to keep... The more you talk about 6 January, the more you talk about it, and you talk about how you stole and you're so smug about how you stole 3 November, Did I say, did I repeat, or did I repeat myself?
Trump won, okay?
And Biden's illegitimate.
And you're just going to have to live with it, okay?
Because we're not backing off one inch.
And we're winning.
We're ascendant.
Welcome to the War Room.
I know it's kind of bad form to do your old clips.
I understand that.
But yesterday, that came from yesterday.
And then overnight, we got the rest of this.
When they're hugging up on Dick Cheney, a war criminal, this is the best they got.
They're hugging up on Dick Cheney, and Dick Cheney in drag, which is his daughter, right?
You got the Holocaust, the honored dead, the honored dead of Pearl Harbor in 9-11.
Not in the victims of the Holocaust.
And they've got Brinkley, another guy wandering around.
Don't know what he's talking about.
Comparing that.
Matt Lewis.
Oh, the day he became president.
If that's the best you got, please bring it every day.
That's what we want.
We want that old man wandering around.
His big tough guy speech.
This is the big tough guy speech.
He's so tough.
He was so presidential.
It's unbelievable.
They've got to roll out the collaborationists.
The guys like Matt Lewis, who couldn't get a job anywhere else, got to work for Left Wing.
So remember, all the hacks that could not possibly get paid or earn a living.
Right?
Actually doing analysis, analytics, commentary news on sites that would support them.
Have to go.
That's why they're always on MSNBC, CNN, Daily Beast.
These are all complete total hacks.
Hugging up a war criminal, Dick Cheney.
That's what they got.
That's the best.
People that hate him, despise him, will put him in jail.
They're hugging up on him.
And no, Stephanie Ruhle, we do not hate you.
We don't hate anybody.
Although sometimes it comes close, I realize I'm a proto-Christian, I'm a failed Christian in that regard.
But yes, we do agree, you are a moron and you are a dunce.
On that point, we are solid.
We don't hate you, but you are a moron and you are a dunce.
And your spin is unbelievable.
Let me bring in Steve Cortez, the great Steve Cortez, coming off the beach.
After a long sabbatical, Cortez joins us.
unidentified
We just don't have to play the Chalk Talks, which people love.
steve bannon
Cortez, these numbers, people have got to understand, they've been so jacking the system up with cash, to have this miss, and it's a humiliating miss, but it shows you the deep problem we have with the economy, because Omicron's not accounted for.
Walk us through how bad this was this morning.
steve cortes
No, you're right.
It's horrific.
It is a dreadful number that we got today.
And by the way, to connect the dots between yesterday and today, and I think this is critical, Steve, one of the reasons, you know, why did they have to engage in all the lies and propaganda yesterday?
Why did they have to bring before the country this really just grotesque circus of self-absorbed absurdity before America?
Well, it's because they needed to stage a massive diversion.
Because they don't want people paying attention to the reality of their lives under the leadership of Joe Biden and Nancy Pelosi and Chuck Schumer.
And that reality hit America like a giant bucket of cold water today with this dreadful employment report.
came in at less than half of total expectations for added jobs.
Wall Street experts were looking for north of 400,000 new hires.
Instead, it came in at only 199,000.
So another, yet another, incredibly disappointing jobs report.
And Steve, even worse than that headline miss, and that headline miss is significant, no matter what Stephanie Ruhle or anybody in the corporate media wants to say.
But I think even worse than the headline miss is the fact that for Americans who are working, Steve, they're getting poorer every single month.
That's not my opinion.
That is the economic reality because we have inflation under Joe Biden absolutely surging in this country to four decade highs.
And wages cannot keep pace, meaning real wages, which is the term that economists use and what we really should look at, real wages have now declined nine months in a row because of the miserable economic stewardship of, if we can even call it that, of Joe Biden.
By the way, regarding that diversion, I would bring this point out too.
Why, again, did they have to engage in that spectacle?
It reminds me a lot, and I thought of this when I saw the number come out this morning.
It's like the Hunger Games.
You know, the Capitol, the United States Capitol, acts too much like the Capitol in that book and that movie.
And they need to stage these grotesque circuses as a way to try to distract those of us in the districts who are dealing with the reality of food and gas prices absolutely soaring and an anemic job market that is not nearly what we need in this stage Can we play?
steve bannon
I want to play.
And Steve, we'd ask you to stay through this break and we got Grace Curley up, Caroline Ren.
This is a power show this morning.
Let's play Stephanie.
I want to play Stephanie Rules.
Later on her own show, she tried to pivot even more.
Let's play Stephanie Roll.
unidentified
Here we go.
Can you explain this reversal to us when it comes to the labor market?
In November of 2020, there were nearly 11 million people unemployed, less than 7 million job openings.
One year later, it is the exact opposite.
Less than 7 million workers, more than 10 million openings.
Can you explain this?
We've had this just surge of job openings all year long and I think a lot of it has to do with the fact that the economy came roaring back with a huge amount of demand from people who were at home working from home and demanding goods and the supply chain had gotten a little squeezed and You know, employers responded by opening up a lot more jobs, and these jobs are responding to the fact that there is dynamism in our economy.
steve bannon
This is total gobbledygook, but I'm going to go to Cortez, who's on the trading desk.
Steve, what are they talking about?
What are they talking about?
steve cortes
No, and listen, and I will tell you this, as somebody who watched these numbers like a hawk for 25 years for my profession, month in and month out, I have seen hundreds and hundreds of these employment reports.
There is nothing to like in this employment report, okay?
You can't put lipstick on a pig and you cannot shine a sneaker.
There's nothing to like.
steve bannon
You say that as a professional.
You say as a professional putting your capital to work every day.
You traded in the pits over in Chicago for decades.
But you say as a guy dispassionately, not as a Trump American nationalist.
You're one of the biggest Trump supporters.
You're saying just the way it is about my money.
Walk us through it then.
steve cortes
And let me give you one example within this report that's really dreadful.
Black unemployment, the black jobless rate, went from last month 6.5% to this month 7.1%.
Now, what's one of the reasons why such a big jump in black unemployment, and this has bigger implications beyond the black American community, I really think it's primarily because of the vaccine mandates because we know that there's an enormous amount, understandably so, an enormous amount of vaccine hesitancy and vaccine resistance among black workers.
When Stephanie Ruhle wonders why aren't a lot of people going back to work, well Biden's onerous and unscientific and unconstitutional vaccine mandate is one huge reason
That a lot of people are making the choice to go back to I shouldn't say they're making a choice they're being forced into the into the choice of not going back to work right now so that is one big reason but here's another point to Steve I want to get to polling here you know look don't take Steve Cortez's or Steve Bannon's word for it look at polling of the American people and what they think about Joe Biden regarding key economic issues if we can bring up chart number one this is a poll from CNN Hang on, hang on.
steve bannon
I want to save this for the Power Punch next, because I also want to bring in Grace Curley.
She wrote an amazing piece, her first column in the Daily Mail, talking about one of your favorite guys, Pete Buttigieg, right?
The disaster of that, the administrative state.
This all ties together.
This is a disastrous, you know, elections have consequences.
Stolen elections have catastrophic consequences.
You're seeing the catastrophic consequences now for the American people and particularly for minority communities.
I want every black American and every Hispanic to embrace these numbers and understand what they mean and understand the three-card money, the con game.
War Room.
Pandemic.
with real wages dropping, your unemployment reaching record highs.
This is what they're going to try to do is print more dollars, print more dollars to bail themselves out.
Short commercial break.
Grace Curley, Howie Carr's wingman, Steve Cortez, next in the War Room.
unidentified
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.
steve bannon
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Steve Cortez.
Now that he's back from his sabbatical, he's agreed to, he's going to hang with us for a lot of this hour.
We've got to get some more of his searing analysis.
We've got to bring in a new voice, a young voice, a rising voice.
Howie Carr is one of our favorite guys.
If you're ever up in the Boston area, New England, I know the show is nationwide now, but Howie Carr is like...
For Afternoon Drive is The Hammer, his executive producer for years, his wingman.
Grace Curley has her own show now, WRKO up there, 12 of the 3.
But she's also, I think Pierce Morgan has taken off.
Daily Mail's reaching out, I think, to young, smart, tough voices.
This is very important.
The Daily Mail, although it looks like it's pretty anti-Biden, just for the fact how incompetent he is, it's not a Trump site, it's not a, you know, it's not a right-wing site or conservative site, but they've got some new voices in there.
Grace Curley is a new columnist for them, besides having the Grace Curley Show, 12 to 3 o'clock.
Grace wrote a brutal beatdown on this entire fiasco around the nation's capital.
We've been telling about a couple inches of snow, shut the whole thing down for days, for days.
And you've got Pete Buttigieg, the Department of Transportation, because this is the capital, what they call the National Capital Region, right?
Militarily, for national security, it falls within that.
Plus, you've got the fiasco at the airports over the Christmas holidays.
They ruined Christmas.
Lack of supply chain, complete fiasco at the airports because of COVID and the way they handled that.
Now this, Grace Curley, let's put this column up.
Grace Curley, welcome to the War Room.
Hope to have you on many, many times as your new columnist over at the Daily Mail.
Walk us through this piece that you wrote.
unidentified
I just was amazed that not only was this all happening, and of course, you know, you can blame Pete Buttigieg.
No one's surprised that he's not handling this well.
He doesn't have any qualifications.
His qualifications to be Secretary of Transportation were that he finds airports romantic because that's where he proposed to his husband.
And he was the mayor of South Bend, Indiana.
Not exactly an impressive resume for being Secretary of Transportation.
But when this stuff happens, you can blame Pete Buttigieg, or you can blame the governor of Virginia.
And Democrats were all on board to do that until they realized that the governor of Virginia is not Glenn Youngkin, it's actually Ralph Northam.
So they had to wait a couple days before they could blame Glenn Youngkin.
But this entire scenario, I think, really shows you the incompetence of Democrats.
And keep in mind, these are the same people that tell you they're going to change the earth's temperature.
They're going to solve systemic racism.
And then an actual problem comes up where people could really use their help and no one is anywhere to be found, except for, of course, on Twitter, where Pete Buttigieg, and I wanna get this right, he retweeted Kamala Harris, who said, because of the bipartisan infrastructure law, America is moving again.
That's what infrastructure is all about.
Getting people moving.
Have you ever seen anything this tone deaf while people are sitting in 20 plus hours worth of traffic in the freezing cold?
steve bannon
Your point's well taken about the climate change.
They're trying to, you know, change the entire Earth.
Yet, in the part about your piece, it's not like it was three feet of snow.
It was six to eight inches, right?
And maybe some places ten inches.
This was not something to be overcome.
Is this emblematic of this entire illegitimate regime about their just a gross incompetence and their arrogance, which is a lethal combination?
Grace Curley.
unidentified
Yeah, Steve, and I think it could actually be drawn back into what we saw yesterday, all these theatrics on Capitol Hill, all of these people with the fake candles and the cast of Hamilton coming out and singing, and it was all very cringeworthy.
But it shows you that Joe Biden and Kamala Harris, they were eager.
Did you notice that?
They were eager to take the stage yesterday.
They don't want to take the stage after the Afghanistan withdrawal.
They don't want to go to the podium about the COVID crisis.
They don't want to talk about the crime surges.
But when it comes to the pageantry of throwing red meat at CNN viewers, they're all for it.
It's like the old Biden and the old Kamala.
They come out, they talk about it.
But it's these abstract ideas, these vague comments that don't really help anyone that they really love.
But when you get to the nitty gritty and you want to ask them about things that American people are talking about, they have no interest.
And I would just say one more thing about January 6th.
They should really be hoping and praying that American people are sitting around their kitchen tables every night talking about the QAnon guy and talking about Rep.
Andy Kim's blue suit.
And everyone's obsessed with January 6th as much as they are, because if that is not the case, and if Americans are actually worried about the economy, inflation, gas prices, they're in for a rude awakening come election time.
steve bannon
Well, what's your sense?
Because, you know, they have this thing like democracy, but then you look at the bill, their two last hopes is Mitch McConnell supports them and throwing more money into the system to try to bail them out.
Or federalizing elections, trying to get this thing passed over Martin Luther King weekend, basically allows them to steal with no voter ID, ballot harvesting, the whole thing.
I mean, what's your sense, because this kind of, this thing of democracy, when they do it they want all votes to count.
All the illegal, illegitimate, no chain of custody, uncertifiable, the way they stole 2020.
They were up in our face and they told us exactly how they were going to do it.
Your audience, where do you think the people up in New England and your audience is coming out on that?
unidentified
Well, I actually was listening to one of your shows the other day where you said the participation in a lot of these elections has increased dramatically.
And I hadn't even realized that.
But I think that that is where we have some hope.
I always like to give my audience and my listeners hope that, you know, not all is lost.
Your vote is going to count.
But we need to be a little bit more proactive and we need to take part in this and we need to sign up to be poll watchers and make sure we know what's going on.
I think that could be a very positive outcome.
But I agree with you.
What I noticed about yesterday was somehow, not only were they conflating people who voted for Trump with the insurrectionists, but then they kind of wrapped that all up together and decided to push election laws that they wanted to get passed.
So there's so many ulterior motives to this theater.
So as much as I sometimes just want to laugh at it because it's absurd, the stuff they're doing, the poetry, the singing, all of this, it really does have A nefarious motive behind it.
They're pushing their agenda yet again.
steve bannon
Grace, tell our audience a little bit about you and a little bit about the show.
You've been with Harry Carr is a is a beast.
We love that guy, but he's got to be I imagine it being his producer is a is a is a is quite a job.
Tell us a little bit about yourself and tell us about your show and how can people get more access to you?
unidentified
Thanks, Steve.
Yeah, working for Howie's been a blast.
Everyone can find me on Twitter at G underscore Curly.
You can also follow my show, GraceCurlyShow.com.
You can read me at The Spectator, at the Daily Mail, and at the Boston Herald.
And yeah, just tune in.
We have a great show.
We try to keep it fun and try to keep it light.
steve bannon
Grace Curly, thank you for joining us and good luck.
The Daily Mail, your first one out of the box was fantastic.
Look forward to the next one.
unidentified
Thank you.
steve bannon
We get we get this whole rising generation.
We got these young people.
They're going to just just kick down the doors.
It's amazing.
This is why I am so absolutely confident.
We keep our shoulder to the wheel.
We're going to run the table on these folks.
I want to bring back Steve Cortez.
Steve, walk us through.
You got a couple of charts.
We got about three or four minutes here.
I want you to take your time and go through and go through your additional analysis.
unidentified
Yes, indeed.
steve cortes
You know, some charts, Steve, to show that the American people very much understand the reality of their lives, which is that real wages are crashing under Joe Biden.
Costs are soaring, particularly for food and energy, but they're soaring for everything, and wages can't keep pace.
We got a horrendous, horrendous jobs number out today, only added 199,000 jobs.
That's less than half of expectations, which was north of 400,000.
Now, to the point of the polling and how the American people realize this, if we look at Chart number one, which I provided.
This is a CNBC survey on key economic measures, and I really shaded there the two that I want to pay the most attention to.
The first is helping your wallet, approve or disapprove.
Again, this is CNBC survey.
Only 34% believe that Joe Biden is helping their wallet.
66%, a massive supermajority, say he is hurting their wallet.
They disapprove.
And on the issue of inflation specifically, the price of everyday goods, 72% of Americans disapprove of Joe Biden right now on this topic of inflation.
Unfortunately, Steve, the reality is we're back to a place, we haven't been in America, Since the 1970s.
I'm old enough to remember it just a little bit.
Young people in America thankfully have never experienced stagflation until now.
What is that?
It's a combination of deceleration of economic growth with a massive acceleration of of prices in the economy.
It is a toxic brew for the country.
It saps confidence.
And by the way, Steve, it doesn't just sap the confidence of people like us, like you and I, who are America First adherents.
It's also sapping the confidence of self-identified Democrats.
You know, Axios put out a poll last week, which I think was very foreboding and very telling.
And they said that they asked Democrats last year and then at this time this year, they asked them about the new year ahead.
And are you confident?
Are you fearful?
Last year as Joe Biden took office, only 19% of Democrats, they were very understandably enthusiastic about their guy taking office.
Only 19% said they were fearful about the year ahead.
Steve, now that number is 45%.
It has gone up two and a half times among Democrat voters, the number telling pollsters, Axios, that they are fearful about the year ahead.
And Steve, that is with their guy in office, that is with Joe Biden in the White House, that's with the Democrats controlling both.
Houses of Congress, and not just that Steve, but even beyond Washington DC.
Let's face it, controlling every major institution in American society.
From the military, to big business, to big sports, to the media, to academia.
The Democrats fully in charge, and yet, they've created enormous despondency among their own people, among their voters.
45% of them say they are fearful about this year ahead.
The reason?
Inflation.
steve bannon
Steve Cortez, hangover second.
Show commercial break.
Carolyn Wren, one of the top fundraisers, is going to join us next in the War Room.
unidentified
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.
steve bannon
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Okay.
I'm very honored now to bring in someone who in the Republican Party is very, very well known.
She's not out in front of the media all the time, although I have seen her name pop up here recently in a number of articles, but that's for another day.
Caroline Wren is one of the top fundraisers for President Trump in the entire Republican Party.
Caroline, thank you for joining us.
You've got Steve Cortez here, the American nationalist and the populist movement.
All of it.
Look, Dave Bossie's on here last night.
We're talking about, you know, you got Dick Cheney and Liz Cheney down there rubbing up on Nancy Pelosi and making a big deal.
And Dick Cheney comes down and says, you know, a guy that's a war criminal coming out and saying, you know, trashing the Trump movement and where we're headed on this.
And Bossie was saying yesterday, hey, the reason that we can't throw her out of the conference is not just this ratio thing, it's that the donors don't want it.
So this is the question we've got.
There's obviously a complete gap between what the working class party that the Republican Party is becoming as a powerhouse of two-thirds of the nation is going to support us, we're going to win 100 seats this fall, and what the donors want.
You're at the intersection of that.
So can you please describe to us, what's the donors, what do they want?
What are they looking for?
And why does it seem to be this mismatch between these populist nationalist policies that work and attract people of working class Hispanics in the Rio Grande Valley, African-American men.
And Steve Korchez has walked you through about how African-Americans are bearing the brunt of the Biden's awful economy, 7.1% unemployment.
Right?
It's the people of color because of Biden's invasion of the southern border.
They want all that cheap labor and that's what's pressing, that's what's rising, killing the wages, right?
Killing the wages and driving the unemployment.
On top of it, he's throwing nitroglycerin and napalm on top of the dumpster fire that's his economy with printing more money with that demand pull.
So what do the donors want and where do you see they are right now, ma'am?
unidentified
You know, it's a really interesting time for the donors.
I have been a terrible fundraiser over the past year because I've basically flown around the country and met with donors and told them, stop giving money.
Close your wallets.
Like, this is insanity.
We're funding our own demise at this point.
You would never run a business like this.
You would never run your family investments like this and your stocks.
Look at, we spent, you know, a billion dollars in 2020.
And what was your ROI?
If you're a donor, what did you get for that?
We've lost all three branches of government.
And this has to stop.
The strategic funding on the Republican side is a disaster.
The Democrats are unbelievably coordinated.
They are smart with their money, their funding, in totally different ways.
And Republicans, we just do the exact same thing every two years.
I feel like it's Groundhog Day.
We set money on fire.
We give $60 million to Karl Rove to run a super PAC to torch two Senate races in Georgia.
And it happens every two years, and they just continue to do it.
They have to stop.
The donors have got to close their wallets to this insanity, to these party committees.
It is the only way, I think, to truly send a message.
And money is diminishing in power, I think, in the party right now.
There's no amount of money that's going to save Liz Cheney in her primary.
I mean, Harriet Aikerman could raise $1,000 down the election.
She's going to win.
And you're seeing that a lot.
That's why a lot of these folks are retiring.
I mean, they see the writing on the wall with it.
But the Republicans have really got to re-look at the way that we fund politics, and I'm not seeing it happening.
steve bannon
Let me ask you, did people have a point of reflection?
It's about this.
As I keep saying, since 1968, we've won more elections than we've lost, and the providential One aspect of them stealing the 3 November election is that they flipped all their face cards over.
We see exactly what they want to do between CRT and the schools, the woke military, the woke corporations, the invasion of the southern border.
We see exactly what they want and there's no bridging that gap.
They keep saying about bring unity.
There's no unity.
It's impossible to be united.
One side's going to win and one side's going to lose because there's two different visions for the country.
Okay, and that was Divine Providence who worked through Trump in 16.
In this steal there was something providential and we got to see it and you got to see how close we are to losing this country unless we stand in the breach and fight every day.
Do the donors understand that now that their money, all this billions of dollars that was put in, that we ended up winning elections but losing the country?
Caroline Wren.
unidentified
Oh, I think they do.
The donors are angry, as they should be, and they are so in tune with what is happening.
When you're in Washington, D.C.
and you're meeting with these political consultants, they have no clue.
They just have total blinders on.
When I'm out meeting with donors across this country, they do know what's going on.
They see what is happening here, but they also want to know, what's the plan?
What's the plan of action?
What's going on?
And also, it's hard to do a plan forward unless we actually reflect on what just happened.
Why did we lose in 2020?
You know, for me, I spent the past four years flying around the country and telling people, you know, give $100,000, $200,000, as much as you can to re-elect Donald Trump.
And people could give up to $800,000 to do that.
And in every meeting, every RNC conference that we would do, we'd say, we've got a legal fund and we are going to be ready.
We are going to be ready for any of the legal battles they throw our way.
And the morning after the election, I woke up and, you know, What was the plan?
Rick Rinell and myself and Matt Schlapp and others, we also, you know, we need to go out and help.
We flew to Nevada and we get there.
There's nothing.
Literally no hotel.
The RIT wouldn't pay for hotel rooms at first.
They wouldn't do anything.
There's no attorneys on the ground.
We all start just calling anyone on our phones, trying to find attorneys to be able to come and help us.
And I started talking to people in Pennsylvania, Georgia, Wisconsin.
It was the same thing.
It was a total disaster.
And I mean, I was the one who sat in front of these donors and said, give this money and we will be ready.
And we weren't.
And like, I'm shocked that donors haven't come together and filed a class action lawsuit for fraud.
Because it was, the whole thing was.
And so, you know, once we kind of got five days into the post election time, everyone was following, you know, the election fraud.
And for me, it was a little bit different because Trump got 13 million more votes in 2020 than he did in 2016.
That's unheard of.
No president in modern history has gotten more votes during their re-election.
Obama got 3 million less.
But Biden got 15 million more votes than Obama and Clinton.
Well, there's not enough dead voters to make that up.
Something else happened here.
And for me, I started following the money.
I've spent the past year of my life Following the money and the Democratic funding structures.
And what I've seen is they have the most sophisticated and coordinated funding structures when it comes to not only politics, but the, you know, the public policy wars, the cultural wars that we're fighting here.
And we are playing two totally different games.
I've joked that Republicans were playing checkers while they play chess.
It's worse than that.
I mean, we're playing badminton and the Democrats are playing tackle football with knives.
And we just continue to fund party committees and super PACs.
And the Democrats are waging a war against this country through 501c3s, through 501c4s, and through corporate boardrooms and through banks.
And there's nothing on the Republican side that even approaches that.
And it is a huge, huge problem.
I mean, if you look at how Zuckerberg funding worked in March of 2020 to See what was going on, and then you work with Mark Elias to change the different election laws, and only the counties they needed to win, and then infuse $500 million into that system to win an election.
It was, you know, probably illegal, but borderline genius.
And I thought to myself, you know, what if someone had handed us $500 million in April of 2020?
What would we have done with it?
I know what we would have done.
We would have announced a Karl Rove-led super PAC.
We would have set $500 million on fire running television ads.
Because that's what we do every single time.
And you saw it in Georgia.
In Georgia, in 2018, some people came to Stacey Abrams and said, we want you to be the DNC chair.
She said, no.
The DNC is an irrelevant entity.
Like, I don't want that job.
Give me $15 million in my 501c3, and I will go win you two Senate races in the presidency.
And that's what the Democrats did.
Well, what do we do?
We announced the Karl Rove Super PAC.
We set $64 million on fire, running ads featuring Mitch McConnell, telling people to vote for Kelly Loeffer and David Perdue.
McConnell polls at 10% on both the left and right, so whoever thought that was a good strategy, I don't know.
But we continue to do it.
We could have given $500,000 to Scott Pressler and said, go register voters, and we probably would have won.
That would have been a better use of money.
But it's Groundhog Day.
We do it over and over again.
And we're now a year out from the most disastrous election.
We have no branches of government.
We don't have the House.
We don't have the Senate.
We don't have the presidency.
And where's the audit?
Where's the self-reflection?
What has anyone done to change anything?
steve bannon
What is that in this run-up?
Because you've got the great, you saw in Virginia, the deplorables are there.
They're going to put their shoulders to the wheel.
They're going to volunteer to go into the, to be, not just poll watchers, to be election officials.
They're going to knock on doors.
You saw the great turnout of the Trump voter.
But what is the apparatus and your your mind right now as we sit here on what January 7th right with this this this critically important really another presidential election because it's a referendum on Biden.
Where do you think we stand with not just the apparatus but the funding of the apparatus in the right areas?
unidentified
You know, we won Virginia for a couple of reasons.
One was, you know, just it was a reaction to the disaster that is the Biden administration.
But most importantly, we won Virginia because a guy named Ian Pryor, who lives in Loudoun County and saw what was happening to his children in the school, said, enough is enough.
And he organized and put together a grassroots group with a few of the different moms in his community.
And he waged a revolution in Virginia.
And with a budget of probably $150,000, Ian Pryor won us Virginia.
The money that is spent right now, we didn't win because Gwen Youngkin spent a bunch of money on television ads.
That was the reason why.
We can spend smartly.
We're never going to match the Democrats dollar to dollar.
But we have the benefit of having better candidates, better ideas, and we are not a party of socialism.
The country is not a socialist country.
So we need to take more ideas like Ian Pryor and his group and go replicate those in other states and quit funding just these television campaigns that don't work.
steve bannon
We have to have you on for a deeper discussion on this.
How do people get access?
I understand you're in the news, you know, been in the news a lot here the last couple weeks, but how do people follow you on social media?
How do they get, how do they find out more about you?
unidentified
Sure, I don't really do social media, but for any donors, what I've been doing is working with donors to put together like planned strategic giving strategies for them that actually can help impact not only elections, but the public policy fights we're having across the country.
And so, by email, the best way is CRIN5024 at ProtonMail.com, and I'll reply and happy to talk to you about what you're looking to do.
The Democrats, if you look at their 501c3 and philanthropic giving, they are doing all their political giving that way.
When I talk to Republican donors, traditionally they give to hospitals, cancer research, or universities.
And we have to totally rethink and re-look at the way we do this.
Every month I see, you know, RNC out-raises DNC by $2 million.
And it's like, well, did you miss the press release where Lauren Powell Jobs put $3.5 billion out?
So, it's just nuts.
Even Kenzie Chavez spent $8.6 billion in the past nine months in this web.
$8.6 billion, and we're celebrating out-raising the DNC by $2 million?
steve bannon
Yeah, no, no, no, no.
And they've got the tax law that gives the tax-free thing for putting into their philanthropy.
Then those are all left-wing organizations.
The Democrats are a party controlled and funded by the elites of this country, the globalist elites of this country, and this is how they do it.
Caroline, it's been amazing.
Thank you so much, and we'll make sure everybody gets your email.
Hopefully you're bombarded with emails.
Just, just respond to the nice ones.
I'm sure anything related to the donors, you know, is already a third rail here in the, in the war room.
But thank you.
Thank you for having the courage to come on here.
We look forward to deconstructing a lot of what you're talking about with you over the weeks ahead.
unidentified
Thanks.
steve bannon
Caroline Wren.
Okay, we're gonna take a short break.
Cortez is still with us.
We're going to get back to some more economic analysis about how it's going to impact your life and how it's going to lead to a massive, sweeping victory in November this year.
Next in the War Room.
unidentified
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steve bannon
Okay, we had the Getter guys cut that spot because we had 2 million on there for a long time because there were 3 million.
Now, they're going to have to cut it again because they're crossing 4 million right now.
It's been a million.
They've added a million users.
I think the active user's up now almost to a million every day, so it's on fire.
During the show, we have the Worm live over there.
We also have a live chat over there, and I put up, we do polls now to my Getter account.
It's the only place I'm on social media, and I love it because it's easy to use.
In the engagement, I get to actually see what people are saying.
The good and the maybe not so good, okay?
Steve Cortez.
First off, I want to really thank Carolyn Wren.
The audience response already has just been enormous, right?
For somebody that's really kind of the donor class to come in and walk through, and she had so many topics.
We're gonna get her back on to drill down on these, but Steve Cortez.
I know for a Wall Street guy, for a guy who makes his living in capital markets, you've been the most anti-donor class guy out there.
Walk me through your assessment of Caroline Wren.
steve cortes
She made an incredibly salient point about the chasm, the gap, the Grand Canyon-sized gap right now between where the Republican establishment is in Washington, D.C.
and where the country is, whether it's working-class people or whether it's donors.
Because when you talk to real people out there, when you look at surveys of real people, everyday Americans, you know, what does it reveal?
It reveals an incredible level of anxiety regarding the economy.
And they're not going to be reassured by the dreadful jobs number that was out this morning.
And to put a number on this, a poll, and I think this is critical, a poll of working-class Americans, people without a college degree, which is still the vast majority, about two-thirds of Americans do not have a college degree.
And a poll of those voters from Quinnipiac on the topic of the economy says Joe Biden's approval rating is 20%.
Disapproval is 74%.
Disapproval is 74%.
He is 54% underwater on the most important topic by far, the economy for most Americans who are working class people.
Now, in terms of this chasm where I'm going with this, and I think Caroline was speaking to Steve, you would think that a president who is that unpopular on the most important topic in the country I would argue he's the most unpopular president in American history.
He's more unpopular than Jimmy Carter was during the Iran hostage crisis.
He is more unpopular than Nixon was when he was walking out to the helicopter to leave the White House.
That's how deeply unpopular this man is.
And yet, The Republican establishment, particularly Mitch McConnell, but others as well, they continue to throw him political and economic lifelines.
And in doing so, not only are they saving him politically, when there's no valid reason to do so, but in addition, they are exacerbating the very inflationary situation which has America in such a stagnationary malaise In the first place, you know, why are we getting these kinds of rises in inflation this kind of rise in interest rates?
By the way, let's show for the folks out there who are watching.
Let's show this actual rise in interest rates.
This is my chart number two.
If we look at 10 year yield, this is 10 year Treasury bond yield.
This is the benchmark for people who don't watch.
Bonds a lot out there.
This is the benchmark for the entire world.
All interest rates on earth, from your credit card bill, to your auto loan, to government bonds in Germany, all of them are based relative to U.S.
Treasury yield.
So this is the harbinger for the world.
If you look at that, I shaded where Joe Biden was elected November 3rd of 2020.
Ten-year yield was 0.8%, under 1%.
For 10-year Treasury yield.
And that was with an economy that was incredibly aggressively reopening under President Trump, especially in the freedom jurisdictions, places like Florida.
So we had incredible growth, incredible wage growth with incredibly tame inflation.
What has happened since then?
If you look, when I posted this chart this morning, tenure yield is up to 1.73.
Now, you may say to yourself, that's still low by historical standards, and that's true, Steve.
However, what's important here is the rate of change and the way the math works, the fact that tenure yield has more than doubled under Joe Biden.
Now, why has that happened?
Because of the spending, which was facilitated by feckless Republicans in the Senate.
So the massive spending of Joe and Nancy and Chuck.
I think the second key reason is the war on American energy, particularly domestic American energy.
We were full spectrum energy dominant under President Trump.
We had cheap abundant energy.
The opposite is the case now.
Energy prices affect prices throughout the economy.
That's critical.
And then I think the third reason, which we don't talk enough about, About what's spurring this Biden inflation?
It's the mandates.
These onerous mandates.
They are a massive part of what has hampered the supply chain in the United States.
What it has done to trucking, to logistics, the number of people it has kept out of the labor force, people that we need desperately.
We need their skills and their contributions to the labor force.
When you combine all of that, the reckless spending, the war on American energy, and then the illegal and unconstitutional and unscientific Biden mandates, all of that, Has created, unfortunately, an inflation tsunami, and one that working-class people have to deal with most of all.
I think that's also one of the important points, Steve, to get to regarding when Caroline Wren was talking about the donor class.
Whether it's Republican or Democratic donors, let's remember, there's a lot of already successful people in the country who actually do quite well with inflation.
If you are the owner of significant assets, you may in fact welcome inflation.
Who gets killed?
It's the American striver.
It's the up-and-coming It's the small business owner.
It's the young person who's trying to save enough to buy a house, who wants to have children and hasn't yet, and is putting off those kinds of life decisions because of economic realities.
You know, those are the people who are crushed by inflation.
Those are the people we have to represent and save in 2022 by electing fighters.
steve bannon
African-Americans and working class Hispanics, this is the party you want to join.
This is the movement you want to join, because this is your economic salvation.
You're being made Russian serfs.
Steve Cortez just walked through it.
We want to talk about interest rates rising.
Steve, when we get you back here tomorrow or Monday, and also about now private equity going in and buying the housing stock.
Cortez, real quickly, 30 seconds.
How do people get to you on Getter?
steve cortes
So find me at the Getter.
I don't know how I got it before you, Steve, but I'm Handel, Steve.
Couldn't be simpler.
Please find me there and I'm posting everything, videos, charts, all of this.
steve bannon
It's amazing.
Cortez, welcome back.
Incredible hour.
Just incredible.
The single smartest guy for walking people through this.
You see the carnage that's about to happen.
Steve Cortez, thank you so much.
We got Jack Posobiec next hour.
We got John McNaughton, the artist.
But we're going to start with how they're going to bail themselves out.
You know how they're going to do it?
Print more money on your shoulders.
The economy is in total, complete turmoil.
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