Feb. 4, 2022 - Bannon's War Room
48:51
Participants
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| Speaker | Time | Text |
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unidentified
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The virus has now killed more than a hundred people in China and new cases have been confirmed around the world. | |
| You don't want to frighten the American public. | ||
| 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 gonna be a real serious problem. | ||
| France, Australia, Canada, the US, Singapore, Cambodia, Vietnam, the list goes on. | ||
| Health officials are investigating more than a hundred 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, for our podcast and radio audience. | ||
| Let's keep playing that B-roll. | ||
| There you see the beginning of the Genocide Games. | ||
| Going off with an announcement today of, Reuters nailed it, a major strategic partnership between Russia and China. | ||
| And if I can give you signal, not noise, that is some of the most dire signal this country will ever have. | ||
| We are in it now. | ||
| Deep. | ||
| And not one boycott of that game. | ||
| Okay? | ||
| The NBC didn't send the reporters. | ||
| We're live. | ||
| It's Friday, 4 February, Year of Our Lord 2022. | ||
| We've got a packed show to get to, so we're going to get right to it. | ||
| I'm going to get Russ Vought up in a minute, but Steve, I want to ask you, where we are economically today? | ||
| in the world. | ||
| problems with national debt, the structure of all this. | ||
| What's your initial takeaway before you get Russ Vought in here? Well I think this is important. While I will concede that the headline number was reassuring, once we dig into the details, the devil is indeed in the details. | ||
| And corporate media, as is its usual practice this morning, I think is engaging in economic malpractice, is what I would call it, Steve, particularly business channels who know better. | ||
| They keep touting, oh, these are fantastic wage gains, ignoring the context of inflation, meaning real wages are not gaining at all. | ||
| Steve, real wages are declining in the United States because whatever pay increases... | ||
| Eleven months in a row now. | ||
| Because whatever pay increases workers are getting out there, they are not enough. | ||
| They are not fast enough and big enough to offset the massive inflation surge of Joe Biden. | ||
| Let me use a sports analogy, a football analogy, since we're almost at Super Bowl time. | ||
| It would be like a quarterback, Steve, marches down the field, passes for 80 yards down the field, and then he does not score. | ||
| Instead, he throws a pick six. | ||
| Now, we wouldn't praise him for marching down the field to 80 yards. | ||
| We would say you threw a miserable pick six and the other team scored. | ||
| That is what's going on right now with wages. | ||
| Wages are declining and when the media tries to tout headline numbers that some of them are actually good, some of them just seem good, when they try to tout them, they're engaging again here in economic malpractice. | ||
| By the way, the American people know that. | ||
| You don't have to take my word for it. | ||
| All the confidence sentiment surveys right now, the American people People are well aware that their lives are getting harder and that they are working harder to fall behind month by month. | ||
| And The Hill had this major article today about food prices. | ||
| The inflation of food prices are eviscerating the working class and the lower middle class, right? | ||
| People that really feel it and they're responding accordingly. | ||
| Talk about interest rates before I bring Russ on because I want to get into the funding of the federal budget, the CR that's coming in front of us, the whole structure of the American economy. | ||
| And by the way, on those food prices, and this is key, food and energy are particularly troublesome for middle-income folks. | ||
| Wealthier people, they might be bothered if those prices go up, but it doesn't materially impact their lives. | ||
| But for working-class people, for people of middle and lower incomes, those items of food and energy consume such a larger share, even in normal times, right, of their disposable income, that in times like this, when we have inflation surging in those items, it's just crippling to them. | ||
| Let's get specific here, by the way. | ||
| If we can pull a chart up, chart number two is crude oil, because I want to show people what has happened in crude oil since Joe Biden took office. | ||
| We have crude oil, there it is, yes. | ||
| So for those who are watching, in the yellow, that is the illegitimate election, the prevailing of Joe Biden, November 3rd of 2020. | ||
| Crude oil, based on this current contract, was $41 a barrel. | ||
| We are now above $92 a barrel on crude oil. | ||
| That is a combination of Joe Biden declaring war on American domestic energy production and his general exorbitant borrowing and spending. | ||
| Kinds of things, not just energy. | ||
| But this energy number, $92, highest crude oil has been since 2014. | ||
| That is crushing, it's crippling for all of America, but particularly for middle-income folks. | ||
| We're going to have the great Lou Dobbs on the show tonight, the 5 o'clock show. | ||
| I want everybody to make sure they've got that. | ||
| And we're going to talk about this. | ||
| But one of the culprits, one of the partners of Joe Biden in this is Larry Fink and a lot of these big hedge fund guys, the social justice, the woke. | ||
| Social justice, try to break the carbon economy, but to break it like immediately, not even a transition, but to break it immediately. | ||
| Think about that. | ||
| That $92 a barrel, you talk about an unfair tax on working class people. | ||
| This is one of the reasons that Joe Biden's got the worst numbers in modern presidency in the first year. | ||
| He's getting absolutely crushed because people are getting crushed. | ||
| This also gets to the funding and what we're going to do with this. | ||
| They haven't funded the government for this year. | ||
| They're trying to hide it. | ||
| Interest rates, real quickly, interest rates also popping, right? | ||
| Interest rates popping hard on this jobs report today, up to 1.9% on 10-year yield. | ||
| And remember, folks, I know a lot of people, it's kind of more fun to follow stocks, I'll be honest, right? | ||
| Stocks are a little more sexy and glamorous. | ||
| But interest rates really, for most people, have a bigger effect on their lives. | ||
| And interest rates popping like this, again, if we go back to the election, November 3rd of 2020, 10-year yield was only 0.8%. | ||
|
unidentified
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It is now 1.9%. | |
| It looks like it's headed to north of 2%. | ||
| point eight percent. It is now one point nine percent. It looks like it's headed to north of two percent. And here's the key, Steve. We have an economy right now in the United States and for that matter, in much of the globe that is completely structured and predicated upon extremely low interest rates, particularly as it relates to the gargantuan level of borrowing. Right. | ||
| Our federal debt, which just went over 30 trillion dollars, one of the only reasons we've been able so far to maintain and service that profligacy, Steve, is because of very, very low interest rates. | ||
| Okay, it's think of like maybe you took out slightly too big a mortgage, but you've got such a low interest rate You can handle it for now Let's say it's an adjustable those rates start going up. | ||
| You took out too big a mortgage in the first place now You're in a lot of trouble. | ||
| That's what's happening to the country at large with these interest rates And you know again, I want to I want to really emphasize here. | ||
| This isn't just my view. | ||
| It's not just Steve Bannon's view This is the American people take a very dour assessment right now of This is University of Michigan Consumer Sentiment. | ||
| Look at the handoff there on the left side of the screen for those who are watching. | ||
| one more. I won't throw too many charts up, but one more. | ||
| This is University of Michigan Consumer Sentiment. Look at the handoff there on the left side of the screen for those who are watching. The handoff in Consumer Sentiment that was rising and ascendant into the early days because of 2021. | ||
| The handoff from Donald J. Trump. And then look at what has happened ever since. | ||
| This is astounding to me, Steve, because I wouldn't have even guessed this if I didn't follow the data so closely. | ||
| In terms of, and this is a widely followed by Wall Street, very respected. | ||
| It's the platinum thing. | ||
| It's been around for decades. | ||
| We are now below the lockdown lows in consumer sentiment. | ||
| Think about that. | ||
| Below the lockdown lows. | ||
| Think of how scary those days were for our country. | ||
| We're lower than that in terms of sentiment. | ||
| And consumer sentiment is also a looking forward. | ||
| This is people starting to get very nervous. | ||
| Remember, the central problem with the American economy since the 1970s, since the Arab oil embargo coming off the gold standard, all of it in Nixon's time, has been no real increases in American workers' wages except during that golden period. | ||
| When guys like Steve Cortez, Russ Vought, Peter Navarro were advising President Trump. | ||
| He had those two great years, 18, really 17, 18, 19, but 19 was the golden age, right? | ||
| Of real rising wages, almost zero inflation. | ||
| I also want to make sure, everybody's been talking about the 30 trillion dollars on the face amount of the national debt. | ||
| That does not include the 9 trillion dollars At the Federal Reserve, which and they still have not stopped pumping, you know, this, this whole economy, the whole Ponzi scheme of the Biden economy is predicated on one thing, massive government intervention, whether it's through the Fed of providing liquidity, or it's this spending. | ||
| And you're gonna see this huge fight, I'm gonna give you some signal not noise, you're gonna see a massive fight over here on this on the annual budget. | ||
| We call it the continued resolution. | ||
| It has not been addressed. | ||
| I want to bring in Russ Vogt now. | ||
| Russ, walk us through your assessment, because you're the former head of OMB under President Trump, and you're Trump's numbers guy, so walk us through where you stand. | ||
| Yeah, I think a real important that Steve Cortez just made is the notion that the entire strategy of those financing the federal government has been based on low interest rates, and those are on their way up. | ||
| We haven't even gotten to the point where the Fed raises its interest rates. | ||
| I left in somewhere it was at 90% on the 10-year. | ||
| uh... now we're at one ninety that that is a bit all of their numbers fall apart when they split a come for the budget around the state of the union they're gonna have massive deficits even beyond what the trillion dollar baseline that you've been talking about steve in in recent weeks so we're on a up up up we're up coming to a a deadline february eighteenth they're trying to pass a a massive spending bill that would increase spending by two hundred billion dollars that's a sixteen | ||
| percent increase think about that over the life of a ten-year bill ten-year period and this is all baseline budgeting that means we're talking about two trillion plus when you add interest So, we're talking Build Back Better levels of spending here that no one other than this show is really talking about, and it's something that Senate Republicans have to stand up and say, we're not going along with this, and they have effectively a majority at this point. | ||
| I want to make sure everybody understands. | ||
| First off, a number came up last week, I think we're the only people to talk about it, and that's why I wanted Lou Dobbs to come on the show, the great Lou Dobbs. | ||
| We had a trillion dollar trade deficit last year. | ||
| We had a trillion dollar, the biggest in America, trillion dollar trade deficit under Biden's regime's illegitimate regime's first year in power. | ||
| A trillion dollar trade deficit. | ||
| I want to reset here with Russ Vought. | ||
| I want to make sure everybody understands. | ||
| We've been talking about when we had these guys in the corner with the debt ceiling and the annual budget back in September when they have to do it by September 30th for the new fiscal year. | ||
| Mitch McConnell let them off the hook by giving them a $3.5 trillion, you know, raise the ceiling so they basically can run the debt up another $3.5 trillion, right? | ||
| And what Russ Vought's talking about, I want to go back into this, Russ. | ||
| You're saying right now that the discretionary spending is going to be, when you add in the interest on all of it, will be two trillion, not one. | ||
| I've been talking about a one and a half. | ||
| You're saying it's going to be actually two trillion dollars added on top of the three and a half trillion dollars of transfer payments. | ||
| That's five and a half trillion dollar, essentially, federal budget. | ||
| Is that what you're describing? | ||
| That's the cost of it, and that's going to shake out, and it's going to have a significant deficit impact, but they're already at $1 trillion. | ||
| So then you add in this $200 billion, and I don't know what that will mean for this particular deficit, but all of those deficits add up. | ||
| You're going to put it on top of $30 trillion that we just saw this week, and it adds up. | ||
| Is that all of these mandatory programs are on inflators. | ||
| So they're all going up with this 7% inflation that we're seeing. | ||
| So we're going to have a massive explosion of the federal government's picture of its finances right around the time that this deadline is coming due. | ||
| And they're going to try and just get this thing done as soon as possible so that when there is an increased accounting from the normal next budgetary process, They don't have the momentum killed to pass this last bill, which I might add is our last leverage point fiscally in this year. | ||
| To take a stand now. | ||
| Go to the, you know, Christopher Lettern, I keep recommending this book, Lords of Easy Money. | ||
| We're going to try to game on to follow Lou Dobbs. | ||
| I don't know if we're going to be able to pull it off. | ||
| We had to postpone him while I was down with my dad. | ||
| But the Lords of Easy Money. | ||
| Real quickly, before we go to break, Cortez, since 2008, and this book got out, since 2008 and the great financial crash, the strategy of the Fed and the central banks have been essentially zero interest rates to push up assets. | ||
| We're coming to the end of that and there's no one today is having a sophisticated, remember they say the deplorables are so dumb and stupid, nobody in this town is having an adult conversation about the entire structure of the American economy and how quite frankly we're addicted to easy money and we're addicted to zero interest rates. | ||
| See, not just not having an intelligent conversation, but telling bald-faced lies to us. | ||
| How many times in this town from Fed officials did we hear the word transitory, right, about inflation? | ||
| Doesn't appear like there's anything transitory now about, look at that crude oil chart that we put up earlier, right? | ||
| There's nothing transitory about 7% official CPI. | ||
| The actual number, I think, in reality is far worse than that. | ||
| I think we're going to see, unfortunately, because of the things Russ is talking about, we're going to see 10-year yield go above 2%. | ||
| I believe we're going to see crude oil go above $100. | ||
| Wow. | ||
|
unidentified
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And then we're really talking an inflationary crisis. | |
| That's when Joe Biden's numbers get into the single digits. | ||
| Okay, we're going to take a short commercial break. | ||
| Russ Vogt is going to join us, former head of OMB under President Trump, his last head of Office of Management and Budget, head of the Center for Renewing America, and of course, the great Steve Cortez. | ||
| A short commercial break. | ||
| We're going to talk about geopolitics and the economy and you and your personal life next in The War Room. | ||
|
unidentified
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The epidemic is a demon, and we cannot let this demon hide. | |
| We rejoice when there is no more, let's take down... | ||
| 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. | ||
| A dangerous travesty is underway in Beijing right now and it has massive geopolitical implications. | ||
| It shows the weakness of the West. | ||
| We're over there kowtowing right now. | ||
| I don't care if NBC didn't send their reporters. | ||
| I don't care if CNN is going to show a couple things about the Uyghurs. | ||
| This is a national humiliation. | ||
| And the powers on the Eurasian landmass of both Russia, now that we've pushed Russia into a partnership with China, we're gonna have hell to pay for that, okay? | ||
| And the entire structure of the global economy is predicated upon American capital feeding the slave labor market in China with the state-owned industries, and we are in for it right now, I gotta tell you. | ||
| There are many, many, many dark days ahead of us. | ||
| We've got a virus from a bioweapons lab in Wuhan and we are too gutless, we are too gutless to confront the Chinese Communist Party, the PLA for what they did. | ||
| I want to go back to, but here's a battle we got to take on right now. | ||
| This is a battle we have to take, and the only people who are going to take it on is in this audience, because this audience is an activist audience. | ||
| Look, this show is not entertainment. | ||
| This show is hardcore capital markets, finance, economics, geopolitics, local politics, and we know that we've got to be hyper-local and win this in the trenches locally. | ||
| In fact, we've got big announcements on Monday about all this, about the hyper-local strategy. | ||
| But I want to go back to Russ Vought, last head of OMB, and one of my top draft picks, for a senior role after President Trump wins the third time, okay, after he wins the third time, if he doesn't come back earlier, yes, I said that media matters, go ahead and melt down, but hey, I like what's happening in Pennsylvania, I like what's happening in Wisconsin, I'd like, I'm a big thing of just decertify the Biden electors and then we'll see how it plays out. | ||
| He's totally illegitimate and the American people know it now. | ||
| Russ, real quick, people have to understand, they have not passed and appropriated the federal budget for the fiscal year we're in, and we're now, I don't know, five or six months into it. | ||
| They need to come to you, the American people, they need to come to people in this audience right now, they need to beg to get that done, or Biden's going to shut down his own government. | ||
| Russ, you're the guy that knows to the fifth decimal place, right, everything in this federal budget because the OMB coordinates between what happens on Capitol Hill and actually how it happens in any administration. | ||
| What does this audience need to do today to make sure that we brace up the Biden administration? | ||
| They're coming in, I'm telling you, they're going to bury us in federal spending. | ||
| They're going to try to do build back broke through different aspects of this annual budget. | ||
| What's this audience to do, sir? | ||
| It is very simple. | ||
| They need to call their senator and they need to say, oppose the omnibus bill and the continuing resolution in the next few weeks. | ||
| Oppose it. | ||
| Outright. | ||
| Don't ask for anything in exchange, just oppose it. | ||
| That's what's central right now. | ||
| They are trying to pass a 16% increase in spending in the midst of an inflation crisis, while the Fed is continuing quantitative easing, and they're doing it, and they're going to do it with Republican votes, because Republicans not only have the ability to stop it with a filibuster, but they have effectively a majority for the next several weeks. | ||
| unfortunately as a result of the situation with the Senator in New Mexico. | ||
| But that means the Republicans have more ability to dictate terms and they've got to use it. | ||
| So call your Senator and say oppose the omnibus bill that's being worked out right now by the Senate appropriators in the United States Senate. | ||
| I thought they could do this with reconciliation. | ||
| I thought they were going to try to do this with reconciliation. | ||
| Do we have the ability? | ||
| So does really the filibuster come into play here? | ||
| It does. | ||
| This is not a reconciliation. | ||
| This is straight up legislation. | ||
| You're telling me you have to get 10 Republicans to support this to take it forward to start debate. | ||
| Is that what I'm hearing? | ||
| That's what you're hearing. | ||
| Baby, I love it. | ||
| Here's the thing. | ||
| Ask me this. | ||
| Why is this going on in this town? | ||
| You've got guys like Russ Vought, they're sitting there going, this is madness. | ||
| You're in the middle of a financial crisis. | ||
| We don't have any way to really see our way through this. | ||
| You've got the Feds lying to you because they're still doing quantitative easing, right? | ||
| You're still juicing the system. | ||
| The whole thing runs. | ||
| Now you've got inflation out of control. | ||
| Working class people are getting crushed. | ||
| His numbers are dropping there. | ||
| Why are they continuing to do it? | ||
| Who benefits from this? | ||
| Yes, well, you know, first the corporate class and unfortunately far too many Republican senators are just fully still now establishment dinosaurs who are part of the multinational backed corporate class who want to advocate for the interest of C-suite executives rather than working class Americans. | ||
| But then the other issue if we look internationally and to connect this conversation to the one that you were having about What's going on in Beijing and just the disaster over there, right, that we have allowed? | ||
| We are participating in a CCP party before the entire world, where Putin and Xi are forming an extremely close alliance. | ||
| So who benefits from these inflationary policies, particularly as it relates to energy? | ||
| If I can use some Latin again, if I can call back on my high school Latin, qui bono? | ||
| Who benefits? | ||
| Putin. | ||
| Putin has loved the Biden presidency. | ||
| He has made him massively more powerful to the extent at which the CCP now desperately wants and is forming a very tight alliance with Putin, who has been made incredibly powerful by these inflationary policies. | ||
| So not only are they terrible for working-class Americans, they're also wonderful for some really dangerous people in the world like Putin. | ||
| General Kellogg's going to be on later in this hour. | ||
| He warned us about this. | ||
| Had a great article in the Daily Mail. | ||
| I want to go back before I lose Russ, okay? | ||
| I want to make sure people understand this. | ||
| When you were there and left, the 10-year bond was 0.9%. | ||
| Correct? | ||
| 0.9%, okay? | ||
| And people out there in the audience got to understand, your life is... One of the biggest impacts of your life is the 10-year Treasury, okay? | ||
| Because that's what credit cards, car loans, your mortgage, all of it. | ||
| Every time you got to borrow any money. | ||
| Right? | ||
| Or have credit. | ||
| It's predicated on that. | ||
| Russ, vote. | ||
| Are you saying now you see that 10-year Treasury going over 2.2%? | ||
| And how do we, to Cortez's point, Russ, how do we, the whole structure of what we got is based on zero interest rates. | ||
| How do we handle, at 2%, paying for the federal budget and the money we borrowed over at the Fed? | ||
| We're signing up for deficits as far as the eye can see beyond with the trillion dollars. | ||
| And right now they swing the fiscal picture tremendously in one direction or the other. | ||
| And right now I know the Biden administration is preparing their budget. | ||
| I know exactly where they are right now. | ||
| They're trying to figure out how bad these deficits are going to look when they roll out their budget. | ||
| Closer to the State of the Union. | ||
| And it's going to blow up their strategy, because their OMB director, who's trying to get herself confirmed right now, has been saying their entire strategy for why they can continue to spend at 16% increase year over year is because they have low interest rates. | ||
| And that's going to be something that is increasingly upset. | ||
| And this is just the start. | ||
| Historically, these interest rates have come even much higher than 2%. | ||
| By the way, I didn't think I could imagine a Raskin that's a bigger clown than Little Jamie up there at whatever committee he's on. | ||
| But his wife said, by the way, Toomey field-stripped her yesterday. | ||
| She's going to be vice chairman of the Fed. | ||
| In a financial crisis of what we're talking about, she's saying, no, the Fed should take on another role. | ||
| Climate change. | ||
| These people are so reckless and so radical. | ||
| And here's the scam. | ||
| It's all on your shoulders. | ||
| The reason they can keep printing this money, they're not going to raise taxes. | ||
| They're just not going to do it, right? | ||
| They're not going to raise taxes on the Democratic donors. | ||
| Larry Fink and these guys are not going to take tax increases on the wealthy. | ||
| They're not going to do that. | ||
| They can't sell enough bonds to anybody to pay for this. | ||
| That gap of what we're talking about, when they print money, the full faith and credit of the United States government would be you. | ||
| You're the one that's going to pay for it. | ||
| Steve Kortes. | ||
| I'm glad you brought up Raskin because I think this is an important point. | ||
| As if it's not reckless enough that the Fed has completely mismanaged this economy and has put us in this extremely precarious position we're in right now, where we're really facing an inflationary tsunami because of the combination of what Biden did on the fiscal side and what the Fed has done on the monetary side. | ||
| But on top of that, Raskin now wants an overlay of a social justice warrior agenda at a time in which the Fed should be in all-out crisis mode. | ||
| And by the way, I'll be the first to say the Fed doesn't have a lot of great options right now. | ||
| Now they put themselves in that bind, so I'm not excusing them at all from complicity, but my point is they don't have great options. | ||
| This is no time for them to be distracted by things like climate change. | ||
| Mrs. Raskin is welded to the hip to Larry Fink. | ||
| This is the con right now on Wall Street. | ||
| The social justice warriors are going to use monetary policy to drive to their radical agenda. | ||
| Russ Vogt, one more time. | ||
| What's the crisis we're facing, how do people deal with it, and what's the action item we need today? | ||
| Yeah, we're facing an inflation crisis, we're facing an interest rate crisis, and fundamentally, at its foundation, a spending crisis. | ||
| They're trying to pass a 16% increase upwards of More than two trillion dollars over the next ten years. | ||
| That is coming to a head February 18th. | ||
| Senate Republicans need to say absolutely no and stop that debt in its tracks. | ||
| Okay Russ, real quickly. | ||
| How do they get to you on social media? | ||
| How do they follow you over at the Center for Renewing America? | ||
| AmericaRenewing.com is our website and they can get me at at RussVote on both Getter and Twitter and we will be updating this situation in real time. | ||
| By the way, 24 hours a day, they're putting stuff out, so you gotta follow Russ over at those sites. | ||
| I'm sure he's gonna be taken out of Twitter sometime in the future. | ||
| Russ, thank you. | ||
| Thank you for your work, your effort, your patriotism, and being on the show. | ||
| Love it. | ||
| You know, Steve, I think this is important because as dire as the situation is, and it is dire, okay? | ||
| As dire as it is, what we're talking about here is that the Republicans have the levers to put a tourniquet on this bleeding immediately. | ||
| I don't mean in the elections of 22 or in 24 when we get America first president. | ||
| I mean right now. | ||
| They have the votes to start the process of stopping this inflationary madness. | ||
| Now, will they do it? | ||
| I don't know, but we need the posse to really, really pressure them. | ||
| This is why it's a false label, Democrats and Republicans. | ||
| These are phony labels by corporate media right now. | ||
| Because you have populists and nationalists and you have globalists. | ||
| And you're going to see, they're going to be outed right now. | ||
| And look, the collaborators that did the infrastructure bill, the collaborators that have given Biden everything, it's Republicans that are giving him everything. | ||
| The collaborators that raised the debt ceiling of three and a half trillion dollars? | ||
| The question just Mitch McConnell's got to be asked, point blank, how are our kids, how are kids who don't own anything right now, the generation under 40 are all Russian serfs, they don't own anything, they're just on the wheel right now. | ||
| Mitch McConnell, how are they even going to start to pay for this, particularly since the structure of the American economy and the financial structure of our country is predicated on easy money and zero interest rates? | ||
| Young people can't afford to buy a home anyway, and that's with extremely low interest rates. | ||
| You send interest rates north, forget it. | ||
| We're going to economically destroy a generation. | ||
| It's all in front of us. | ||
| And we can stop it. | ||
| This audience can stop it. | ||
| And we are going to stop it. | ||
| OK, next, in the War Room. | ||
|
unidentified
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Spread the word all through Hong Kong. | |
| We will fight till they're all gone. | ||
| We rejoice when there's no more. | ||
| Let's take down the CCP. | ||
| 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. | ||
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| And of course, Your humble servants here at the War Room Apparatus. | ||
| Before I get back to Cortez. | ||
| Cortez, you're a big guy on logistics and inflation and all this. | ||
| I want to bring in Joe Reek over at MyPatriotSupply. | ||
| Joe, get us up to date. | ||
| The Hill this morning had this article that said, hey, D.C.' 's not paying enough attention to this, but food prices are like blowing up on record increases and prices even worse than the 70s. | ||
| It's got a devastating impact, particularly on working class people in this country. | ||
| What are you guys seeing at MyPatriotSupply and what are you guys doing about it? | ||
|
unidentified
|
You know, we see what's happening. | |
| We see the trends. | ||
| And because of what we're able to see, we've ordered just a ton of food. | ||
| And we worked hard to build up our supplies to now we're in the position to be able to help, you know, everybody here in America, as well as our partners to the north here in Canada. | ||
| And I got one word for you, Steve. | ||
| Inflation. | ||
| Inflation, inflation, inflation is what's going to hurt the American people right now, because they don't understand that an extra 10%, 20% increase at the grocery store is really going to affect their day-to-day and their monthly budgets. | ||
| What about logistics? | ||
| Are the logistics problems you're seeing, because right now they're talking about, Harnwell's going to be on from Rome, talking about China, they're going to have big shutdowns in these port cities, particularly after these games, right? | ||
| What's the situation with the logistics chain right now? | ||
|
unidentified
|
You know, we're still seeing the same trends as everybody else is, you know, there is still a significant delay in getting products ordered, you know, raw ingredients or, you know, luckily enough, you know, we source all of our stuff from here within the US because all of our stuff is American made. | |
| But again, it's the plastics, it's the other things that are auxiliary components to what we do that is really going to be in effect. | ||
| But again, the best way to hedge up against inflation is to get stuff now. | ||
| Plastics and all the rest of it, people remember it. | ||
| It just hit 93 bucks. | ||
| Do you think plastics are expensive now, Cortez? | ||
| So Joe, crude oil, which we just showed a chart minutes ago at $92, it's now at $93. | ||
| It's on an escalator heading higher, unfortunately. | ||
| Terrible. | ||
| Good for Putin, good for giant oil companies, terrible for American consumers. | ||
| Can you talk about the You know, when you talk about plastics, I think a lot of folks out there may not realize how important energy products, petroleum are for plastics, how important it is for agriculture, for fertilizer, and of course for shipping everything and anything. | ||
| So can you talk about the effects, the inflationary effects of what is now $93 crude, which again is on an absolute escalator because of Joe Biden. | ||
| What do you see as the effects? | ||
|
unidentified
|
You know, with our business, we utilize a lot of different components, you know, our mylar pouches are based on off of petroleum products, you know, the resin that we need for our plastic pails, it's all it's all based upon the price of crude oil, because that's what they utilize in order to make these products. | |
| And as those prices go up, You know, people got to pay for that. | ||
| And that's the hard thing. | ||
| I mean, we've worked tirelessly to keep our prices as low as we can. | ||
| You know, other competitors, other companies, they're raising their prices, passing that on to their consumers. | ||
| You know, we're doing our best to try to hold prices where they're at. | ||
| But the best way to hedge up against that is just get something now while it's affordable. | ||
| You know, the best time to prepare for stuff is to do it before there's an emergency. | ||
| What's the difference between, tell the audience, between what you guys called, you and Navarco, systemic inflation and transitory inflation? | ||
|
unidentified
|
Right. | |
| So transitory, which is what Washington D.C. | ||
| was trying to sell us on, right, was that this was just a function, for example, of fully reopening, right? | ||
| And that it was just a temporary rise in prices because demand was so strong and it would then quickly wane and go away. | ||
| But instead, this is systemic inflation. | ||
| This is throughout the financial system of the United States. | ||
| And again, don't take my word for it, just look at the bond market. | ||
| The bond market is telling us that inflation is significantly, a lot of other markets are telling us too, but that inflation is significantly on the rise. | ||
| So there is nothing transitory about this. | ||
| This is systemic to the financial structure of the United States. | ||
| Why? | ||
| Because of Joe Biden's absolutely gargantuan, exorbitant borrowing and spending. | ||
| He took a government which was already borrowing and spending too much, all right, let's be fair, with a lot of bipartisan support over the decades in the United States, was already spending too much and he put it Absolutely on steroids. | ||
| And we are now, unfortunately, reaping the awful ramifications. | ||
| It's no better time. | ||
| You've got to get ahead of this, right? | ||
| You say, hey, I'm not a prepper. | ||
| You don't need to be a prepper. | ||
| You've got to think downrange on this. | ||
| Joe, how do people get to you? | ||
| In particular, all the people you've got there can answer questions, everybody. | ||
|
unidentified
|
You know, call us directly. | |
| You can reach us at 866-229-0927. | ||
| We have product specialists standing by waiting to help you. | ||
| We can put you on a plan that works best for you and your family. | ||
| Visit our website MyPatriotSupply.com. | ||
| Here's why you've got to go to MyPatriotSupply, because I tell you about cryptos, I tell you about the gold, as I tell you about Cortez's books we put up there. | ||
| You've got to immerse yourself in knowledge right now. | ||
| You've got to immerse yourself in information. | ||
| You have to become self-reliant when it comes to thinking. | ||
| Okay? | ||
| You cannot believe what this corporate media is telling you. | ||
| You've got to be your own decision maker. | ||
| And it's coming upon you as a citizen of this country. | ||
| Joe Reek, thank you very much. | ||
| MyPatriotSupply. | ||
| Honored to have you on here. | ||
|
unidentified
|
Thanks, Steve. | |
| We got a very special guest, a true warrior and patriot is about to come up, General Kellogg. | ||
| We're so honored to have him on, but I want to team up, I want to go to Rome. | ||
| Ben Harnwell has been ahead of the story in Beijing, well ahead of AP, of Reuters, of everybody. | ||
| Ben, give us an update. | ||
| China today, blockbuster news and not good news for the United States of America or our allies throughout the world with Russia and China rubbing up against each other. | ||
| Walker Su, what's the situation with these games? | ||
| What's the situation with the PLA virus? | ||
| Okay, good morning, the two Steves. | ||
| So, yeah, I mean, we've been talking about this meeting between Xi and Putin for a couple of weeks now, and the result of it was released, their meeting this morning, and it is this, that China and Russia are now jointly opposing further NATO expansion, as these two countries move closer together in the face of Western pressure. | ||
| Worse than that, Moscow has said that it supports China's stance on Taiwan and opposes independence for that island. | ||
| And perhaps most concerning of all, as we see this new axis forming, and I'm sure the great General Kellogg will be adding to this in just a few moments' time, but the Joint Declaration says that there are no forbidden areas of cooperation. | ||
| And I think, I can't help but say that because we've also been following the Ukraine story, and this joint declaration doesn't mention Ukraine by the way, but I think this is partly a consequence Of a number of Western missteps that we're really pushing Russia here, which has always been a great European power, into the Chinese orbit. | ||
| And I don't think Russia even wants to be there itself. | ||
| If you think about it, Russia shares a 4,250 kilometre border with China, which, to put that in perspective, is 1,000 kilometres larger than the US-Mexico border. | ||
| And I don't think that Putin, when he's sitting there in the Kremlin, It can be too happy with the fact that really one of the leading, growing global forces now, and aggressive forces, is to his southern border. | ||
| Moving on to the diplomatic boycott of the games, Chancellor Olaf Scholz, who is Angela Merkel's successor in Germany, without offering any explanation, I mean, he didn't cite the Uyghurs or even the raging out of control Covid crisis that is taking place within the bubble right now, but he has said that he won't be attending the games themselves. | ||
| But hold on, but hold on, hang on, but they're not attending, but you know what? | ||
| Their athletes are attending and their TV networks are attending. | ||
| This is a kowtow. | ||
| Real quickly, what's the story of the hospitals with the virus? | ||
| Yeah, I mean, this is an astonishing story. | ||
| Astonishing not only because of its significance, but by the way that the mainstream media has been downplaying it. | ||
| So a couple of days ago, and I've not been on the show for a couple of days, but a couple of days ago, The story came out on Reuters and The Guardian, which had so much happy talk in it, I felt as if I, as an expert, wandered into South Pacific. | ||
| They basically said that 11 people within the bubble were in hospital due to Covid. | ||
| And The Guardian, the first thing it says below the headline is, in speech marks, none of those hospitalised When was the last time you went to your doctor because you had a cold? | ||
| Probably never. | ||
| So let me raise it up a bit. | ||
| When was the last time you went to hospital because you had a cold? | ||
| media class had the courage to ask. When was the last time you went to your doctor because you had a cold? Probably never. So let me raise it up a bit. | ||
| When was the last time you went to hospital because you had a cold? Even less likely, right? When was the last time you went to hospital because you had just a seasonal cold and you were detained in hospital because of it? | ||
| The Chinese Communist Party has been lying from the beginning. | ||
| And by the way, Steve, we're talking about athletes here who are going to hospital. | ||
| These are people amongst the fittest people on the planet. | ||
| They are going into hospital right now. | ||
| They're being detained in hospital just as there's a COVID. | ||
| This is a super spread. | ||
| It's a super spreader event. | ||
| Ben, what's your social media? | ||
| How do they get you on Getter? | ||
| I'm on Getter at Hanwell and I am the International Bureau. | ||
| We're updating my feed 24-7 and I'll be putting more down on this story as the day goes on. | ||
| Fine. | ||
| Thank you, Ben Harnwell. | ||
| I want to now turn to General Kellogg, author of the book, War by Other Means. | ||
| It's a must-read, but also this amazing piece in the Daily Mail. | ||
| General Kellogg, quickly, we've got to go to break. | ||
| We want to hold you through. | ||
| Can you just give people, I'm not sure people know your background as a warrior and as a patriot that served your country. | ||
| Can we get a quick, just a synopsis of how you've served your country? | ||
|
unidentified
|
Yeah, Steve. | |
| Steve, thanks for having me. | ||
| Yeah, 33 years in the military in the Army, primarily in infantry units. | ||
| I commanded the Army's 82nd Airborne Division. | ||
| I commanded assault brigades during the invasion of Panama and Just Cause. | ||
| When I had a combat brigade there, I've commanded infantry battalions. | ||
| I've been in special operations. | ||
| I've been in combat troop units virtually my entire career when I wasn't forced into the staff side of the house. | ||
| Initially, my first start of the career served two combat tours in Vietnam. | ||
| I was an infantryman who was decorated in combat several times. | ||
| So I kind of know what it means. | ||
| And like you, Steve, we both have daughters who have served our nation well, graduated from West Point and both served their nation. | ||
| So it blended through not only your Navy career, but your daughter's career with the Army and the same with mine. | ||
| General Kellogg, before we go to break, this thing today, the strategic partnership, He warned about this. | ||
| You warned about this. | ||
| One of the few people out there warned us about this, I think, 10 days ago or last week in the Daily Mail. | ||
| Give us your assessment of what you're hearing today coming out of Beijing of this kind of strategic partnership between Russia and the Chinese. | ||
|
unidentified
|
Well, it's significant. | |
| In fact, I think that the last time you go back to something like this was the Tripartite Act of 1940, when the Germans and the Japanese and the Italians, I think what you're going to see You're going to see the Russians team up with the Chinese, and they will also team up the Iranians. | ||
| That's your triangle that you're going to see there going forward in the future, which is going to be an explosive nuclear Middle East and the power of the Chinese economically and militarily and the Russians militarily. | ||
| This is significant. | ||
| This is, I don't think they're going to, the Biden administration will probably be poo-poo it, but it's probably the most significant thing we've seen since the start of the Cold War. | ||
| And they're pressing us, and I put this all on Biden. | ||
| I think it's pretty significant. | ||
| There's no forbidden areas of cooperation, which I think is significant. | ||
| happened under the Trump administration. Do you know that, Steve, when we were there at the start, the way we worked America first, we kept them all off balance? You know, I tell everybody, look what happened with Ukraine. You've never saw anything happen like this in our four years with Ukraine. It all happened after we left office. So I think it's pretty significant. There's no forbidden areas of cooperation, which I think is significant. | ||
| And I think to me, it just means some really bad news down the line with alliances. | ||
| Ch-Ch-Ch-Ch-Ch... | ||
| General Kellogg, hang on, take a short commercial break. | ||
| General Keith Kellogg, one of the senior advisors to President Donald J. Trump, written an amazing book, War by Other Means, an amazing piece in the Daily Mail, warning about all of this. | ||
| This is signal, not noise today. | ||
| Okay, short commercial break. | ||
|
unidentified
|
We'll be back with Steve Cortez, General Keith Kellogg in the War Room. | |
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| Okay, welcome back here live in the War Room. | ||
| We've got two very special people here. | ||
| Steve Cortez in the studio with me, who was one of President Trump's biggest supporters and one of his top advisors on the economy, particularly American economic nationalism, and General Keith Kellogg, a soft-spoken but tough and patriotic leader and war hero. | ||
| General Kellogg, American foreign policy on both sides since 1914 is really we will never allow one power or a combination of powers to control the Eurasian landmass. | ||
| Kind of Mackinder 101 geopolitics. | ||
| You brought it up. | ||
| We now have China and Russia announcing today a strategic partnership with nothing out of bounds, right? | ||
| And you've got Iran. | ||
| You've also had, though, in Pakistan, North Korea, and even Turkey, our great allies in Turkey, into this mix. | ||
| And I'm not so sure about the Saudis and some of the deals they're cutting on oil with China. | ||
| You've got a number of bad hombres on these powers. | ||
| The Mullahs, the KGB in Moscow, the Mullahs in Tehran, and the Transnational Criminal Organization, the Chinese Communist Party in Beijing. | ||
| What is America to do about this, sir? | ||
|
unidentified
|
Yeah, see, well, the best thing you can do is replace President Joe Biden with somebody else that thinks about America first. | |
| He's basically whistling me, Biden, whistling past the graveyard. | ||
| Look, he's a direct cause of this because nobody respects him. | ||
| And the Russians don't respect him. | ||
| The Chinese don't respect him. | ||
| The Iranians don't respect him. | ||
| Nobody really respects him because he's weak. | ||
| And in fact, I was asked this very question almost nine months ago on a news network when they said, what is your greatest fear? | ||
| And I said, my greatest fear when I go to sleep at night is that the lack of will of the American president of the United States. | ||
| And he has proven that more times than you can recall. | ||
| And he's historically done that, Steve. | ||
| And that's what concerns me. | ||
| I'm a big believer in patterns. | ||
| And when you look at somebody like President Biden, you know, he's the guy that inside the situation where we've both been, when they were asked to go after Osama bin Laden, he was the guy that the vice president recommended they not do it. | ||
| Uh, which was incredible. | ||
| And then you had Bob Gates, former Secretary of Defense and Director of the CIA, say that Joe Biden's been wrong on nearly every national security decision in the last 40 years. | ||
| And then you got President Obama saying of his vice president, Joe Biden never underestimated Joe's ability to screw something up. | ||
| And so you've got a president out there who refuses to act very positively. | ||
| And aggressors see that. | ||
| Aggressors see weakness. | ||
| That's one thing you didn't see in a Trump White House. | ||
| They knew he was prepared to act. | ||
| He was prepared to use the hockey term, to drop gloves and fight if necessary. | ||
| And we proved that early on, and we kept proving it through four years. | ||
| We never had this issue happen in Ukraine with four years. | ||
| We never had Russians go out of bounds. | ||
| The Chinese respected us. | ||
| Go on. | ||
| And General Kellogg, Steve Cortes here, you know, in addition to the very important policy failures that you talk about from Joe Biden, I have to wonder, because I was so intensely involved in this issue in the 2020 campaign, I have to wonder how much he has been personally compromised and how much the fact that both Moscow and Beijing funneled tens of millions of dollars directly to the Biden family, that's not a conspiracy, that is proven. | ||
| It has been audited, it has been revealed by the Senate Homeland Security Committee, as well as the laptop from Hell. | ||
| So I also wonder how much, on a personal level, his being compromised is unfortunately putting the United States in a vulnerable position here. | ||
| But regarding that, and regarding domestic politics, and to connect that back, to this new grand alliance between Putin and Xi. | ||
| You know, Ben Harnwell mentioned before you came on that historically China and Russia are states at enmity. I mean, they don't typically get along. They're not natural allies. Haven't we, because of our domestic politics, particularly given the obsession we have with wanting to confront Russia, haven't we to a large degree really pushed these two countries together who are not, again, by default, friendly? Yeah, we... | ||
|
unidentified
|
Steve, it's a great question because we in fact have done that. | |
| And that is simply because we've... | ||
| we've always been Eurocentric. | ||
| We focused a lot on Europe. | ||
| We focused a lot on this globalism. | ||
| And we've kind of defaulted back to the way we were in the 80s and the 70s going forward. | ||
| And we just did not align ourselves with the current environment. | ||
| Our biggest threat, Steve, to me, is China. | ||
| It is the growth of China, both economically and politically and militarily. | ||
| That's your big threat. | ||
| I make the comment kind of tongue-in-cheek. | ||
| Look, to me, Russia is Belgium with nuclear weapons. | ||
| I said the reason why they are not a threat to NATO, and I've always said this, they're not going to attack NATO. | ||
| Look, NATO's 30 countries. | ||
| Russia's got Belarus as a friend, 50,000 troops at the most in Belarus. | ||
| It's a nuclear power. | ||
| We've got three nuclear powers on our side, the French, the Brits, and ourselves. | ||
| They're not going to do something stupid, and they won't go there. | ||
| But we make ourselves look like, well, we're really afraid NATO's going to get in a war. | ||
| Well, if we cause a war, it's going to be us causing it, not the Russians causing it. | ||
| They're focused in on Ukraine. | ||
| Ukraine's not a member of NATO, so the Article 5 does not apply to them. | ||
| It is a sovereign nation, but we had solutions to that four years ago, and we were working it well. | ||
| We didn't have this crisis come up. | ||
| Now, it's amazing because you're right, because the Russians and the Chinese kind of fought a small war on the border years ago, and this is a combination of unlikely friends. | ||
| They understand weakness in the United States of America. | ||
| They understand weakness of the President of the United States. | ||
| And they look at this to gain advantage, and they're going to do that, because both of them, both President Xi and President Putin, are very, very good strategists. | ||
| They look at the long game. | ||
| We don't. | ||
| I like to say they play chess. | ||
| We play checkers. | ||
| General Kellogg, how do people get to the book? | ||
| We got about 30 seconds. | ||
| How do people get to War by Other Means? | ||
| It's a must read. | ||
|
unidentified
|
Yeah, well, thanks, Steve. | |
| It's War by Other Means, a general in the Trump White House. | ||
| You go to Amazon. | ||
| It's the best way to go. | ||
| One click, go to Amazon, pull it up. | ||
| It's right there and click to it. | ||
| And you can reach out to me as at General Kellogg on Twitter and get her as well. | ||
| Or kkellogg at AmericanFirstPolicy.com. | ||
| Okay, we're gonna get it all up and on our sites and we look forward to having you back. | ||
| General Kellogg, I gotta tell ya. | ||
| You're what we call a steady pair of hands. | ||
| You're not an alarmist. | ||
| So when General Kellogg saying like this, people should take it as a papal bull, that things are we're in dire straits right now. | ||
| And this needs real leadership. | ||
| That's why we need Donald J. Trump to win for the third time in 2024. | ||
| General Kellogg, honored to have you on here. | ||
| Thank you very much for joining us in the War Room. | ||
|
unidentified
|
Thanks, Steve. | |
| That, ladies and gentlemen, is an American patriot and American hero right there. | ||
| And I'm telling you, he has been warning about this, as we have, about China, China, China. | ||
| And now, the elites on Wall Street and the elites in this city have forced Russia into China's arms. | ||
| That embrace is going to have huge, huge, huge impact on your children and your grandchildren. |
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