July 25, 2022 - Bannon's War Room
48:50
Participants
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| Speaker | Time | Text |
|---|---|---|
| Trump term look like and you have some fantastic reporting that aims to look at that in very exact detail and part of it centers around a lot of it centers around an executive order he put in place can you tell us about this he put this in place it was resented by the Biden administration it kind of flew under the radar but this is a crucial element of what it might look like if you were if he is elected again yeah so this is a two-part series that we lost | ||
|
unidentified
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on Axios on Friday and Saturday and I've been working on this for more than three months basically piecing together all these different aspects of what is effectively an administration in waiting for Trump for 2020 There's a lot more going on behind the scenes that have been publicly reported, and at the heart of all of this | |
| It's an executive order that they call Schedule F. And if your viewers haven't heard of Schedule F or hadn't heard of it before the stories, that's for good reason. | ||
| Because it was developed in strict secrecy for most of the Trump administration, at least for the last two years of it. | ||
| And it was only finally issued, Trump only signed it into law 13 days before the presidential election in 2020. | ||
| And, you know, when you put out some anodyne sounding order called Schedule F amid the craziest election in American history, you know, you could be forgiven for not paying attention to it. | ||
| But it's actually profound what it does. | ||
| It allows cabinet agencies to reclassify Tens of thousands of career civil servants who have, currently under law and have for decades, very strong employment protections because the idea is that these career civil servants, non-partisan, continue from one administration to the next regardless of the party of the president in power. | ||
| Trump wants to fire Tens of thousands, potentially, at least thousands of these people that he calls pejoratively the deep state. | ||
| And what this order allows him to do is to reclassify them as a new employment category called Schedule F. They immediately lose almost all of their employment protections and can be easily fired and replaced. | ||
| So that's happening there. | ||
| As you can imagine, there'll be legal challenges to this. | ||
| But I'll tell you, Trump's advisers like their chances in a court system now dominated by conservatives at the highest level. | ||
| And because of that, there are some Democrats who've been following this issue very carefully and who are quite alarmed about it and have been trying to take steps To preemptively prevent a future president from doing this. | ||
| So Gerald Connolly, Jerry Connolly, a representative from Virginia who heads the committee, the subcommittee who oversees the Federal Civil Service, he's attached an amendment to the annual defense bill to try and prevent this from happening. | ||
| Republicans want to block it in the Senate. | ||
| But I will say, even if they succeed, Democrats, in somehow getting something into law to prevent Schedule F, Trump really wants to attack the intelligence community and the national security apparatus and basically purge these agencies, the CIA, the FBI, etc. | ||
| They don't have the same civil service protections as a lot of the other agencies do, so even if they don't get Schedule F, a president with the will to do what Trump wants to do and has told his advisers he wants to do could still do quite a significant purge without it. | ||
| Okay, welcome. | ||
| It's Monday, 25 July, Year of Our Lord 2022. | ||
| You're live. | ||
| We're in the War Room. | ||
| We have a lot to get through today. | ||
| Probably next Sunday's 100 days. | ||
| I think 100 days out, we're going to be doing specials leading up to 100 days out of the most important midterm in the history of the nation. | ||
| You know, probably more important than the one in 1862, the midterm in the Civil War. | ||
| And we're going to go into details, but we're going to lead up to it. | ||
| I want to make sure people can separate out all the chatters out there and focus on what's important. | ||
| Here's what's important. | ||
| Donald J. Trump, they trash, they run around, they got their hair on fire, they're doing this. | ||
| He has a theory of the case. | ||
| He has a theory of the case. | ||
| I would actually respectfully submit to you that since FDR's, uh, uh, the folks he brought in, in the, in the great depression of the 1932, when the Republican, basically, as I said, in American history, from the civil war to really 1932, it was Republican dominated. | ||
| You had a couple of Democrats and there was essentially Republican dominated the great depression. | ||
| Donald J. Trump has a theory of the case. | ||
| Jonathan Swan's reporting is of the utmost importance. | ||
| Reagan, all that, and Nixon, but really at the Tea Party, but it's really Trump in 16 is this major inflection point. | ||
| Donald J. Trump has a theory of the case. | ||
| Jonathan Swan's reporting is of the utmost importance. | ||
| Put away the cutesy little phrase, drain the swamp. | ||
| Put away the cutesy little phrase, swamp creatures. | ||
|
unidentified
|
Thank you. | |
| We're talking about a Republican democracy because essentially we have taken on the model of really Davos and the Chinese Communist Party of an authoritarian state, undemocratic with institutions that are not democratic and state capitalism. | ||
| Now, how do you combat that? | ||
| You combat that by deconstructing. | ||
| You have to take it apart brick by brick. | ||
| Uh, the combination, and this is why I say in the last court session, the ruling that will actually be in hindsight more important than Roe v. Wade, as important as that is, I understand for our evangelical and pro-life guys, that's everything. | ||
| The EPA, uh, West Virginia. | ||
| Because that is the deconstruction of the administrative state from the legal, and it's by Gorsuch, who will be the Scalia of this effort, not Justice Thomas. | ||
| Justice Thomas is a good man, and it's his court, but the legal theoretician is Gorsuch. | ||
| He was picked for a reason. | ||
| And now you see, on the other hand, what had been worked on by some of the smartest people in the Trump administration, in Skid Row. | ||
| There's two parts to Jonathan Swan's Peace. | ||
| And of course, they've got to make a drama, Trump's revenge or anything like that. | ||
| Put aside the war on Posse. | ||
| You must put aside the drama and the conflict. | ||
| And by the way, there will be huge drama. | ||
| The administrative state is going to fight this every day like Stalingrad. | ||
| Okay. | ||
| Not one step back. | ||
| That's okay. | ||
| I admire that. | ||
| You've got an apparatus, a non-democratic apparatus that's impervious to elections, or it used to be impervious to elections with controlled opposition Republicans, because they wouldn't take it on. | ||
| They would just add to it and build it. | ||
| They would not confront it. | ||
| And this is not marginally cutting out a program to you. | ||
| This is not about that. | ||
| This is about going to the heart of it. | ||
| The heart of the beast. | ||
| It's not the swamp. | ||
| It's not the deep state. | ||
| It is that you saw it in the first impeachment. | ||
| What was the fetish? | ||
| The inter-agency process. | ||
| It's like a sacramental. | ||
| It's like holy, it's like mass is to the Catholics, the inter-agency process. | ||
| How the administrative state has to work. | ||
| And Jonathan Swan ends on, he sounded like Darren Beattie at the end. | ||
| That the lead thing will be, because Kash Patel and others had a lot to do this, the take on, this is how you take on the national security apparatus. | ||
| And civil libertarian Democrats, because remember the last time we went through this was after the assassinations in the Vietnam war and the protest and all of it. | ||
| And you had the church commission, you had that, this is how you got the Super 8, all that because of the CIA, guess what, being out of control. | ||
| CIA did some good things, but they were also out of control, particularly in domestic politics. | ||
| The FBI had did some great things as a kid raising, the FBI was everything, but they were also out of control. | ||
| They are 10X We don't have the New York Times or the Washington Post or those liberals at the time because they were First Amendment. | ||
| They were strong in the First Amendment. | ||
| Now they're part of the process. | ||
| They're the propaganda department. | ||
| We've got a lot of economics to get through today. | ||
| We've got Tina Peters, we've got all that. | ||
| The Republicans, Karl Rove, Steve Wynn. | ||
| Steve Wynn, the agent for the Chinese Communist Party. | ||
| Not me saying that, DOJ saying that. | ||
| In the filings, agent for the Chinese Communist Party. | ||
| They're starting a now voter integrity. | ||
| The Republicans are starting a voter integrity. | ||
| They're going to raise $20 million. | ||
| That is all to make sure that the Trump apparatus, the MAGA apparatus does not take charge of the election. | ||
| It's not going to work because they don't have volunteers. | ||
| They have no volunteers. | ||
| They have money and no volunteers. | ||
| They have money and Fox News and no volunteers. | ||
| So we're going to get into all of it. | ||
| And the biggest week on announcement of economics. | ||
| And of course, the regime has given us the regime's definition of recession. | ||
| Poor Janet Yellen. | ||
| Janet Yellen. | ||
| Larry Summers is now on Fox all the time. | ||
| Larry Summers is flat out running to be Secretary of the Treasury. | ||
| It's so blatant. | ||
| Steve Ratner, but it's Steve Ratner's publicity department, his comms team, better get rolling here because he's getting smoked by Larry Summers. | ||
| And poor Janet Yellen. | ||
| She's sounding daffier and daffier. | ||
| Okay, we got a lot to go through. | ||
| Let me give, first off, I got Cortez and Harnwell. | ||
| Cortez is going to go through a lot of math, a lot of economics, what's happening. | ||
| But give me your sense of, and here's what I love. | ||
| Show me Chris Christie, Mike Pence, Tom Cotton, Nikki Haley. | ||
| Show me what you got, baby. | ||
| Flip your cards over. | ||
| Show me a Democrat except for Newsom. | ||
| Except for Newsom, and the kids at Tampa have been watching War Room. | ||
| Newsom at 30% of the guy that could beat him. | ||
| Newsom's got a theory of the case called the California, but it's tiny. | ||
| It's not well thought through, but it's a version of this. | ||
| But Steve Cortez, Donald J. Trump actually has a theory of governance, every bit as developed as FDR. | ||
| FDR was the beginning of the administrative state. | ||
| You know, started with the Civil War, had some with Woodrow Wilson, but really the theory of the administrative state came with those things in the 1930s that the Supreme Court at the time, before they flinched about packing, you know, struck everything down. | ||
| Steve Cortez. | ||
| You know, Steve, it gets my deplorable blood going on a Monday morning to hear Jonathan Swan talk about a purge, a purge of the Administrative State. | ||
| Now, of course, he means that to be an expose and to be a hit on our movement. | ||
| We take it exactly the opposite and wear it as a badge of honor. | ||
| And it tells me that, yes, Jonathan Swan recognizes that there is a plan in place. | ||
| That this second Trump term is going to be far more consequential than the first one. | ||
| And the first one was quite consequential. | ||
| But in this second term, there is a plan in place to truly attack the unelected bureaucrats who form the spine of the administrative state that is so destructive for regular Americans. | ||
| And what we're talking about now is accountability, Steve, because these unelected bureaucrats, they effectively have what university professors have, which is tenure, which means that they are almost unfireable. | ||
| It's almost impossible to fire them, okay? | ||
| Unless they're caught cheating or something, right? | ||
| And we need to change that. | ||
| These people need to be accountable to the United States. | ||
| Washington, D.C. | ||
| too often acts like the capital in the Hunger Games and suppresses the districts. | ||
| It is not coincidence that the five wealthiest counties in America are all in the Washington, D.C. | ||
| metro area. | ||
| Steve, that's not because people are curing cancer in Washington, D.C. | ||
| or coming up with amazing new inventions. | ||
| It's because it has become a giant Well, I don't want to say it's anything inappropriate. | ||
| It's become a giant siphon of the prosperity. | ||
| No, no, no. | ||
| Hang on. | ||
| Because $5.5.5 trillion, it's like $5.5 trillion of just straight out cash comes through here every year. | ||
| Right. | ||
| And by the way, you know all the other pockets they've got? | ||
| It's literally tens of trillions of dollars flows through this city and dealt out to their buddies, their business associates, the companies that support them. | ||
| This is Babylon on the Potomac. | ||
| That's what we have here at the Imperial City. | ||
| And this is, by the way, we finally have a plan, ladies and gentlemen. | ||
| Stop saying drain the swamp. | ||
| I don't want to hear it anymore. | ||
| That's a cutesy term. | ||
| We're at war. | ||
| We're at war with the administrative state. | ||
| And hey, you don't think they're coming? | ||
| They're coming. | ||
| Do you think these guys are dug in here? | ||
| They control the greatest, you know, country in the world. | ||
| They've turned it into a global empire, which we want to say we're not in the global empire business. | ||
| The revolutionary generation told us not to. | ||
| Steve Cortez. | ||
| Well, to your point, too, about the contrast, then, with America First, with our movement, and with Donald Trump as a candidate, versus those establishment Republicans who you mentioned. | ||
| They are controlled opposition, and they are fine with the managed decline of the United States of America. | ||
| That benefits them, and benefits Washington, D.C., certainly benefits those thousands and thousands of federal employees who are unaccountable. | ||
| And what this movement is saying, this patriotic populist movement, is standing up and saying, no, we will no longer preside over the managed decline of the United States. | ||
| And these establishment milquetoast Republicans, people like Mitch McConnell and Jeb Bush, and yes, Mike Pence, they cannot be part of this sweeping and revolutionary political movement that is going to, again, I like the word, Jonathan Swan, that is going to purge the administrative state. | ||
| Harnrell, give me 60 seconds before we go to break. | ||
| You're the sequencer of the hour. | ||
| Give us your thoughts. | ||
| My thought on this is to ask the question, who governs the United States? | ||
| Who runs the country? | ||
| Is the country a democracy, fundamentally, with a system of governance that governs by the consent of the people? | ||
| Or is it a technocracy? | ||
| An assemblage of self-appointed, self-justifying experts that respond only to themselves and have Because, as Steve Kortos said, they're unfireable. | ||
| All they have to do to block, they don't even need to openly come out and oppose Donald Trump's agenda. | ||
| They just need to slow walk it into oblivion. | ||
| Well, yeah, but they do a pretty good job of fighting. | ||
| Okay, short break. | ||
| We got economics to go through, technocracy to go through. | ||
| By the way, the biggest anti-democratic is the Federal Reserve. | ||
| That's not even in the memo, Jonathan. | ||
| We're coming hard for that, not just Audit. | ||
| In the Fed. | ||
| All next, Where in the War Room. | ||
| Okay, welcome back. | ||
| Monday, 25 July, Year of the Lord 2022. | ||
| I want to thank everybody. | ||
| By the way, go to our website, get the newsletter, particularly if you listen on the podcast. | ||
| And the podcast is obviously on fire, so is the live. | ||
| I want to thank all of our distribution partners, Real America's Voice, John Frederick's Radio Network, G News, putting us up in Mandarin. | ||
| Good morning to Lao Bai Jing. | ||
| And I guess good evening for the people in the mainland, right? | ||
| And also the podcast. | ||
| Everybody go to the podcast, download it. | ||
| I want to hear all your things. | ||
| Go to Getter. | ||
| Go to my site. | ||
| Go to my site. | ||
| Tell me what you think. | ||
| Feedback you see. | ||
| If you go to Getter, it's free. | ||
| You get Cortez. | ||
| Cortez stuff amazing comes right up. | ||
| You got Harnwell with his lifestyle. | ||
| You got Navarro and you got me and I'm insane on it. | ||
| That's all me and I'm up 24 hours a day putting up analysis, et cetera. | ||
| Harnwa says, because I'm on him for not reading them all. | ||
| He goes, it's a fire hose. | ||
| I can't handle it. | ||
| MyPillow.com, we got a lot of voter, we got a lot about the 2020. | ||
| Tina Peter's going to be on. | ||
| I think she's calling from a jail cell. | ||
| We got Tina on later, kind of have more shot, I think, trying to track him down because it's voter integrity, right? | ||
| Huge primaries coming up. | ||
| We're going to get into a lot of politics. | ||
| Go to MyPillow.com, promo code WARROOM. | ||
| You guys were, hey, last week you had Pasobic, you had Navarro, I had my two besties here. | ||
| You know, I need to have people step up to the plate. | ||
| MyPillow.com, promo code WARROOM. | ||
| Check out all the sales. | ||
| You got the sheets, they're not going to last forever. | ||
| You got the pillows at $19.98, $19.88. | ||
| You can't get that in Walmart or any big box. | ||
| You got to come here. | ||
| So go check it out. | ||
| Steve Cortez, a huge week. | ||
| Do we have, by the way, can we play Janet Yellen? | ||
| Do we have that ready to go? | ||
|
unidentified
|
Okay. | |
| Hang on. | ||
| Slow down for us, Denver. | ||
| Hang on. | ||
| You're on top of things. | ||
| I gotta tee this up. | ||
| I gotta tee the audience up. | ||
| And I consider this the lack of respect department. | ||
| They think everybody's morons. | ||
| They don't understand with shows like War Room and others that people are broken through that kind of white noise and actually are presenting information that people now can understand nomenclature, inverted yield curve. | ||
| They know what the technical aspects of recession means. | ||
| They get it. | ||
| And of course, in their daily lives, they don't need to have it explained to them, but now they know the technical aspects of it. | ||
| Steve Cortez, I couldn't believe they rolled out Good old Janet Yellen this morning and over the weekend to do this. | ||
| Denver, let's play Janet Yellen. | ||
| It's not an economy that's in recession, but we're in a period of transition in which growth is slowing and that's necessary and appropriate. | ||
| We need to be growing at a steady and sustainable pace so there is a slowdown and businesses can see that and that's appropriate given that people now have jobs and we have a strong labor market. | ||
| But you don't see any of the signs now. | ||
| A recession is a broad-based contraction that affects many sectors of the economy. | ||
| We just don't have that. | ||
| Okay. | ||
| I actually, and I say this with all respect, because I thought as a Federal Reserve head, remember she in the first year of Trump's administration, she actually did quantitative tightening. | ||
| Nobody gives Trump credit or even yelling. | ||
| She took almost a trillion dollars off the balance sheet of the Fed. | ||
| That's the first time anybody's taken any off since the crash of 2008, which we still haven't recovered from because of how they did it with just printing money. | ||
| Steve Cortez, and look, so I don't want to pick on her, but you look like she should be going over to her house with your baseball bat on your shoulder, your cap up, Cortez, with your glove on your bat, getting some cookies and milk from her. | ||
| And they send her out on, I think it was Chuck Todd yesterday, to just spout nonsense. | ||
| Now they're going, it's like the Soviet Union. | ||
| They're just going to, tell the audience what they're trying to do here. | ||
| By the way, no ma'am, it's not slowing growth. | ||
| It's negative growth. | ||
| The growth is basically stopped. | ||
| We're in negative growth. | ||
| Steve Cortez. | ||
| And Steve, if you notice there, she said a transition. | ||
| That word's a lot like transitory, which used to be her favorite word. | ||
| Now she's saying it's a transition to slower growth. | ||
| Listen, Janet Yellen needs to resign. | ||
| She should have been fired or she should have resigned yesterday for getting the economy so disastrously wrong because she was either totally incompetent or she was outright lying to the American people or some combination of the two. | ||
| And I think Janet Yellen, by the way, this is instructive and to connect this to our last conversation about the administrative state. | ||
| She is really the personification of the failures of credentialism. | ||
| And what I mean by that is on paper, she has an incredibly august resume. | ||
| Her CV couldn't be more impressive. | ||
| She has a doctorate from Yale. | ||
| She taught at Harvard. | ||
| She was the chair of the Federal Reserve. | ||
| And in reality, Steve, when it comes to the economy, she is totally lost and incompetent. | ||
| Totally. | ||
| Okay, now, when she talks about the transition to slower growth, no, it's not slower growth. | ||
| It is negative growth. | ||
| It is receding. | ||
| It is an actual recession. | ||
| The definition of a recession, which has been widely accepted for decades and decades in the business community of the United States, is two consecutive quarters of negative growth, of the economy getting smaller. | ||
| Okay, we are likely to confirm that reality this week. | ||
| That is an absolutely Loaded week of economic data out all week long, including a new report from the Fed. | ||
| And here's what the White House put out over the weekend to try to get in front of this. | ||
| And let's look at this. | ||
| And I highlighted some of the key parts in this absurd statement. | ||
| From the White House. | ||
| And they asked the question, what is a recession? | ||
| Well, some maintain two consecutive quarters of falling GDP constitute a recession. | ||
| Well, not some, Steve. | ||
| Again, that is the accepted definition for decades and decades. | ||
| They go on to say, it's the second part that I highlighted there. | ||
| They say, we need to take a holistic look at the data. | ||
| A holistic look at the data. | ||
| So they are trying to literally redefine words. | ||
| They're trying to use fuzzy phrases to give themselves wiggle room so they can claim that we're not actually in a recession. | ||
| Steve, this is so embarrassing. | ||
| George Orwell himself could not have penned this in fiction because he would say it's simply not believable even in a work of fiction. | ||
| The White House right now, remember these are the very same people, though, who also claim that they can redefine what is a man and a woman, right? | ||
| These very same people are now telling us that we can redefine what is a recession. | ||
| Why? | ||
| Well, because we're in a recession. | ||
| And because the American people know it. | ||
| Again, it will likely be officially confirmed very soon by the data, but the American people are well aware that they are personally in a recession. | ||
| And not just a mild one, Steve. | ||
| An extremely deep one. | ||
| So this is not a transition to slower growth. | ||
| This is an economy that is utterly falling off a cliff. | ||
| That is the reality in America right now. | ||
| There's polling. | ||
| I put it up on my Getter account. | ||
| Polling over the weekend, 42% of people said they're being overwhelmed. | ||
| 42% of Americans, they're being overwhelmed by the economy, living paycheck to paycheck. | ||
| They don't know how they're going to make it. | ||
| 42% of your countrymen 85% said the economy's going in the wrong direction. | ||
| You can't get 85% of people to agree the sun's going to come up in the east. | ||
| First off, I think 25% of Americans, I was reading this the other day, still think they don't believe Copernicus, right? | ||
| So you got 85% thinks the wrong way. | ||
| Pretty good number there, Steve Cortez? | ||
| Yeah, pretty convincing and overwhelming. | ||
| You know, Steve, we talked about previously how small businesses in the massive alignable survey A third of small businesses say they were not able to pay rent in June. | ||
| Well, we now have some similar data on individuals not paying rent. | ||
| If we can put up chart number two, please. | ||
| This is new reporting also from Axios. | ||
| We're doing a lot for Axios this morning on The War Room, but this is reporting from Axios that 17% of Hispanic citizens in the United States say they cannot make rent. | ||
| They are behind on their rent. | ||
| One out of every six Hispanics in this country. | ||
| Steve, there's roughly 60 million Hispanics, so we're talking about 10 million people. | ||
| 10 million citizens cannot pay rent right now in the United States, and that's just one demographic group. | ||
| There's obviously more than that in total. | ||
| You can't tell me that we're not in a recession. | ||
| You know what there's a called? | ||
| Trump voters right now. | ||
| Brothers, anybody missing rent, any businessman or any Hispanic, African-American, Asian, anybody, if you can't pay rent, you gotta vote for the Trump people in November, the Republicans. | ||
| You got to. | ||
| Because the Biden inflation is crushing. | ||
| It is absolutely crushing middle class folks. | ||
| And let me give, let's show one more chart here. | ||
|
unidentified
|
Go ahead. | |
| Unlike Janet Yellen, I believe in charts and data. | ||
| This is the XLY. | ||
| If we can put up chart three, please. | ||
| This is the XLY, which is an ETF, an exchange traded fund. | ||
| And so, in one ticker, XLY, you get all of the consumer discretionary major companies together in one. | ||
| Now, this is a lot of companies, by the way, that we deplorables don't care much for, companies like Disney and Amazon. | ||
| But regardless, it's a really good read on where the consumer is. | ||
| And if you look at that chart, it is demonstrably from the upper left to the lower right, unfortunately, in a pronounced bear trend. | ||
| It's bounced back a bit in recent weeks, yes. | ||
| But let's put this in context. | ||
| That chart goes back one year. | ||
| Right now, the XLY, Steve, Is 28% off of its highs that were reached last November around Thanksgiving time. | ||
|
unidentified
|
28%. | |
| 20% is a bear market. | ||
| The White House would probably try to say we're going to redefine that. | ||
| But 20% is a bear market. | ||
| 28% is a massive bear market. | ||
| This is the reality, okay? | ||
| Price is truth and the XOI, the Consumer Discretionary Stocks, are telling us That the consumer is absolutely getting pummeled. | ||
| Another data point from one single company that came out today, Weber Grill. | ||
| Weber Grill retracted its forward-looking guidance for the rest of the year, and its stock is right now getting pounded 20% today. | ||
| That's another data point to reflect the reality. | ||
| Hold it, hold it. | ||
| It hasn't gotten hit. | ||
| I've been at the desk here. | ||
| It hasn't been a 20% drop just since the market opened this morning. | ||
| Yes, 20%. | ||
| And actually, I didn't check it now, but I will. | ||
| But pre-market, yes, correct. | ||
| In one day, from Friday's close, pre-market down 20% in a day on Weber Grill. | ||
| That's how problematic the consumer market is right now in the United States. | ||
| That's how crushing this inflation is to regular individuals, particularly working class people. | ||
| Janet Yellen, again, if she had any honor or dignity, she would resign. | ||
| She should be fired. | ||
| She won't, though. | ||
| And listen, this is a packed week. | ||
| We're going to get so much economic data. | ||
| Out this week on inflation from the Fed on second quarter growth, which the Atlanta Fed right now forecast at minus 1.6%. | ||
| We'll see where it actually comes in. | ||
| But the reality is the Biden economy is worsening. | ||
| It is it is decelerating in a significant way and it's crushing Americans, both their pocketbooks as well as their spirits. | ||
| We know consumer sentiment. | ||
| At an all-time low. | ||
| That is the reality right now. | ||
| We need to speak in truth and use evidence and data. | ||
| So that, Steve, not just to the press people, so that we can figure out the path out. | ||
| What is the fix? | ||
| We didn't make this mess, but we are going to fix this mess with economic populist nationalism. | ||
| Here's the fix. | ||
| The feds are going to increase rates, but they're not doing any tightening. | ||
| They haven't hit those marks yet. | ||
| Also, they're going to come back with a massive stimulus bill. | ||
| I'm telling you, they're going to take a break in August and they're going to come back and say, we've got to juice this thing up. | ||
| Big League. | ||
| They're gonna go back to the same old toolbox. | ||
| Okay, short break. | ||
|
unidentified
|
Back with Cortez, Harnwell, all next in The War Room. | |
| Let's talk about the Great Sorting. | ||
| The masses of Americans who are fleeing blue states and blue jurisdictions for Red America. | ||
| And let's specifically talk about Illinois to Florida because Governor J.B. | ||
| Pritzker had the gall to go to Florida last week And give a scathing address attacking Ron DeSantis and the state of Florida, even though the Sunshine State has become a prime destination for Illinoisans who are fleeing the mismanagement and corruption and danger of Illinois as created by J.B. | ||
| Pritzker himself. | ||
| Let's look at the data and a Chalk Talk that is powered by Getter. | ||
| These are U-Haul rates. | ||
| Very telling. | ||
| This is a one-way rate for a small truck. | ||
| Illinois to Florida cost you over $2,400. | ||
| The other way, only $700. | ||
| Why? | ||
| Because the traffic is all going in one direction. | ||
| All of the demand is from Illinois to Florida. | ||
| Perhaps for this reason, new polling, which we just got out from Wirepoints, shows that among independents in the land of Lincoln, only 28% want J.B. | ||
| Pritzker re-elected. | ||
| 62% say it is time for a new governor. | ||
|
unidentified
|
Illinois is in play. | |
| Okay, Illinois is in play. | ||
| You know, Pritzker ought to give a refund. | ||
| To the people that are paying those higher rates, gotta leave the U-Hauls after they drop them in Florida. | ||
| And of course he's running around. | ||
| The reason he's in Florida, he's like Newsom. | ||
| They both think that they're going to be the guy to run against DeSantis. | ||
| They haven't quite read the memo yet. | ||
| Steve, I want to go back. | ||
| A couple things I want to announce. | ||
| Number one, the Federal Reserve is so absolutely essential to everything that's going on. | ||
| I've got Christopher Leonard. | ||
| We're going to do a one hour special. | ||
| I think it's going to be this Wednesday at 6 o'clock, but I'm going to talk to you. | ||
| You've got to watch this. | ||
| I'm trying to get Philip Patrick on here. | ||
| Maybe I can talk to Cortez coming on. | ||
| We're going to break down how the Fed is the beast when they flex. | ||
| They flood the zone with made-up dollars, fiat currency. | ||
| It changes everything. | ||
| And the Fed's got to be watched here very closely, because the Fed is about to come off, I think, the chain again. | ||
| They're going to do a 75 basis point, but that's not—you watch. | ||
| They're going to start flooding the zone with money. | ||
| You watch. | ||
| We're going to get to this again. | ||
| I can feel it. | ||
| Also, the New York—so, Jonathan Swan, also. | ||
| I'm reaching out to Mike Davis, the great legal expert that talked to us about the deconstruction industry. | ||
| He was Gorsuch's clerk. | ||
| This guy knows it better than anybody over at Article Three. | ||
| I'm gonna get Mike, and we're gonna have a one-hour special on the Jonathan Swan Axios articles. | ||
| I want everybody to understand deeply exactly what we're doing here, okay? | ||
| Exactly what's going on, because you're gonna be a part of it. | ||
| And particularly want people to come and step in for and say, hey, I want to be one of those 4,000 shock troops. | ||
| Or there's going to be lots of other opportunities. | ||
| Lots of other opportunities. | ||
| Drop the phrase, drain the swamp. | ||
| This is beyond that. | ||
| This is taking on and defeating and deconstructing the administrative state. | ||
| We're going to do that. | ||
| And we're going to get a one hour special on the Jonathan Swan Axios and get some people on here who can talk about it. | ||
| And of course, Mike Davis. | ||
| Also over the weekend, the New York Times Magazine showing the love I tried to put this up, but it was behind the paywall, so I couldn't get it up, just the photo, but I'm going to do a better job now that my staff is back. | ||
| I work over weekends, they take off, so they're going to tell me how to do it. | ||
| The cover story, Cortez and Harnwell, of the New York Times Sunday Magazine. | ||
| Which besides the New Yorkers, the Upper East Side out in the Hamptons, this is what they're curling up with under the umbrellas in the Hamptons beaches. | ||
| Look at that beautiful black and white photography and it's, stop the steal right there, and here's the headline. | ||
| How the movement to reinstate President Trump has gone far beyond him and now threatens the future of American elections. | ||
| Okay, it's an absolute brilliant piece. | ||
| Of course, they say it in a way of being trying to be with this the worst thing in the world, but you've got an all-star cast in there, including Doug Mastroianna and many others. | ||
| That we're going to break that down during the thing because they're absolutely petrified. | ||
| And the Republican establishment, the controlled opposition is petrified also because they just announced, you know, Stephen Law, Karl Rove, you know, Stephen Law is Mitch McConnell's guy. | ||
| Karl Rove, just Bill Barr, who did nothing in 2020. | ||
| All the controlled opposition that are feeding off the trough here for the administrative state with their law firms and all their associations. | ||
| And led by Steve Wynn, an agent for the Chinese Communist Party, right? | ||
| Steve Wynn is the big guy going to raise money. | ||
| They have no volunteers because MAGA hates them, but they're going to try to spend money. | ||
| All they're trying to do is stop the precinct strategy. | ||
| The left can't do it. | ||
| The Republican establishment so fears Steve Stern and Dan Schultz. | ||
| And all the success stories, the moms from DeKalb County, that they're raising $20 million to stop you. | ||
| They have no interest in voter integrity. | ||
| What they want to do is make sure that you're not in there in the room over around the green table counting votes. | ||
| Cortez, the architecture this week. | ||
| By the way, MyPillow.com, promo code War Room. | ||
| Let's go check it out. | ||
| Okay, check it out. | ||
| Also, My man Eric Prince. | ||
| Unplugged.com. | ||
| This is his app. | ||
| He's building a phone. | ||
| It's going to be out. | ||
| We'll have it by the fall. | ||
| But he's got an app. | ||
| Once you download the app, they can't monetize or track you on any of your apps. | ||
| Okay? | ||
| And it's got an encryption key that is the world's best. | ||
| So go check it out today. | ||
| Unplugged.com. | ||
| And also MyPillow.com. | ||
| Okay. | ||
| Cortez, just walk me through the architecture of the week, because on Sunday, folks, there's 100 days out to the destruction of the Democratic Party. | ||
| The shattering blow from school boards to election boards to county supervisors to the House and the Senate to destroy the Democratic Party as a national political institution by giving them a democracy suppository, since they are this party of not just the groomers, but also the administrative state. | ||
| We're going to shatter that. | ||
| And we have a chance to. | ||
| And this week, as a preamble, Brother Cortez, we're going to have earnings, economics, reports and data, sir. | ||
| What's the week look like? | ||
| Exactly. | ||
| So really, it's the perfect lead up, isn't it, to 100 days out, because we're going to get just a flood, a torrent of economic numbers out this week. | ||
| I anticipate most of them are going to be very depressing, quite frankly, for the economy. | ||
| But nonetheless, they will be illustrative and they will point the way, you know, again, I don't go over these economic stats to depress people, but rather to point the way toward the fixes. | ||
| How do we solve for this equation? | ||
| How do we fix the mess that has been created by Biden and Pelosi? | ||
| And yes, by establishing Republicans, people like Mitch McConnell. | ||
| By the way, I just I mentioned that I would check during the break. | ||
| I did check Weber Grill. | ||
| I don't mean to pick on this company, by the way, but it is down 20% today. | ||
| Weber Grill. | ||
| That is likely because Americans can't even afford the meat to put on the Weber Grill in the first place. | ||
| And again, I'm not just trying to pick on that company. | ||
| If we look at consumer discretionary on the whole off 28% From the highs on XLY just last fall. | ||
| That is a pronounced bear market. | ||
| That is a recession in the United States. | ||
| Now, speaking of recession, a lot of data out this week. | ||
| Starting tomorrow, we get home sales and consumer confidence out on Tuesday. | ||
| Wednesday, very big afternoon. | ||
| That is the Fed. | ||
| If I'm invited back, I'll come to the 5 o'clock war room and we can talk about the Fed on Wednesday. | ||
| Thursday, then, we get the GDP report. | ||
| And that's when we are likely going to find out that, yes, we are officially in a recession. | ||
| with the second consecutive quarter of negative growth of no growth, negative growth in the United States economy. | ||
| Again, the Atlanta Fed GDP now model, which is not always correct, but it has a pretty good track record. | ||
| And it's a statistical model. | ||
| It's not somebody's opinion. | ||
| It is a rigorous well done model. | ||
| That's right now forecast second quarter GDP came in at minus 1.6%. | ||
| And then on Friday, We're going to get University of Michigan sentiment, which is at an all-time low in a survey that goes all the way back to the 1950s. | ||
| Are we going to make another new all-time low? | ||
| Perhaps. | ||
| By the way, University of Michigan, if I could just mention this, because college football season is coming upon us. | ||
| I've never been a fan of the Wolverines because I'm a Notre Dame fan, but the way Coach Harbaugh is talking pro-life out there, I might have to root for Michigan. | ||
| Uh, speaking of University of Michigan, but listen, back to the economy on Friday. | ||
| We also hold it, but hang on, but hang on, hang on. | ||
| We talked about Michigan. | ||
| I'm a Harbor. | ||
| I love Michigan and the big house, but being a Notre Dame fan, they got a plan. | ||
| They got to drop this bizarre conference thing and get back to the old conferences. | ||
| Notre Dame's got to play Michigan. | ||
| Every you got to play Michigan, Michigan, say, hang on, but University of Michigan. | ||
| Also had the doctor that's a pro-life at the white coat ceremony. | ||
| Now, they had a bunch of walkouts, but the president of the medical school didn't flinch. | ||
| They went to them, the whole, you know, the whole blue check thing. | ||
| Oh, this is terrible. | ||
| This is terrible. | ||
| Said, hey, suck on that. | ||
| She's speaking. | ||
| You know, she got selected to speak. | ||
| She's going to speak. | ||
| So University of Michigan with Harbaugh and all the haters are all over him. | ||
| Hat tip to the Wolverines. | ||
| Yeah, amen, amen. | ||
| And then back to the economy, we also get PCE out on Friday, which is an inflation read, and that is the preferred inflation read of the Federal Reserve. | ||
| It's similar to CPI, but we'll also get that debt out. | ||
| And in addition to that, a lot of corporate earnings, so it is going to be an incredibly busy week ahead. | ||
| And as I mentioned, Steve, it's really sort of the perfect runway. | ||
| It's going to set the table. | ||
| It's the perfect preamble, prologue to 100 Days Out. | ||
| Okay, America is in a dire economic quagmire. | ||
| How do we fix it? | ||
| What are the solutions? | ||
| What are the America first economic popular solutions to restore the prosperity of the middle class that has been decimated in the last year and a half by Joe Biden? | ||
| What do you think is the sense you're, right now, I want to give to you, what's your sense of what reality trending? | ||
| I don't need to talk specifically because the numbers aren't out. | ||
| I know you're a guy that likes to get to the math, but where you're seeing things directionally as you look at other data that's out there versus how they're going to, they're clearly going to try to play mind games. | ||
| I mean, right now, like you see the gasoline, they're putting the chart up every day. | ||
| Gasoline, all-time lowest drop in history, right? | ||
| They're, you know, they're sending out Zen Master. | ||
| Jean-Pierre is coming out every day, the Zen Master. | ||
| What's the sound of one hand clapping? | ||
| She's giving it to you every day, right? | ||
| So, what do you think, what do you think the reality, at least where we are, versus, you just saw Weber, right, the first of the earnings, not a good sign. | ||
| Where do you think it is, and how are they going to try to spin this? | ||
| What's the lipstick, what color lipstick are they going to put on this pig? | ||
| Right. | ||
| Well, listen, whatever color it is, it won't work because here's the reality. | ||
| People know their own economic circumstances. | ||
| They're incredibly intrinsically aware of it. | ||
| And even a lot of folks who might not ideologically be that sympathetic to our movement, Steve, a lot of the soccer moms, for example, out there might not love a lot of the tenants of America first. | ||
| But they are hurting economically right now, badly. | ||
| And they cannot afford, forget about luxuries, they cannot afford the things that they need in their lives for their families. | ||
| And because of that, there's political opportunity here. | ||
| There is a political opening. | ||
| And no amount of spin from the corporate media, no amount of lying from the White House, we put that chart up earlier, no amount of lying from the White House trying to redefine a recession is going to change the actual lived reality of the American people who are suffering terribly right now. | ||
| The anxiety in the land is palpable, Steve. | ||
| We see it certainly in all the macro surveys, but I also see it anecdotally. | ||
| I've done a lot of campaigning in the last few months, and I'm going to do a lot more into November to get the right America First candidates elected. | ||
| I have met thousands of people all over this country, and the first thing they mentioned to me, Steve, without exception, Is inflation and you can see the anxiety in their eyes. | ||
| You can hear it in their voices. | ||
| It is a very stressed country right now. | ||
| Very stress. | ||
| And again, we see this in the macro data. | ||
| So it's not just my my experience in person experiences are not peculiar. | ||
| They are reflective of the macro data out there. | ||
| And so given that state of the country right now, that very poor state of the country and getting poorer, unfortunately, every day as real wages crash in America, I don't care how much spin corporate media tries to promulgate. | ||
| I don't care how many lies are propagated by the White House and their economists. | ||
| The reality is smack dab in front of Americans. | ||
| And these kitchen table issues are an opportunity for the America First movement to broaden our coalition and to win a lot of voters who might have been tough to reach previously. | ||
| But Joe Biden has done us one heck of a favor and pushed a lot of people into the at least potentially into the America First fold. | ||
|
unidentified
|
Thank you. | |
| Now you talk about action in this code word transition. | ||
| I think it's actually deeper than the transitory things on inflation. | ||
| They're talking about transitioning. | ||
| We have a clip from Grant Holden. | ||
| I don't know if we've got it ready. | ||
| I can play it in the next segment. | ||
| But she's talking over the weekend that the biggest transition in human history is the transitioning to the sustainable energy economy, which you know from having the great Dave Walsh up here is a fantasy right now. | ||
| That's where they're saying transition. | ||
| It's their activities that have done this. | ||
| And here's what's amazing. | ||
| We're going to go back to the same playbook. | ||
| The reason I'm obsessed with the Federal Reserve, that's what's bailed since, well, for 30 or 40 years, but really since 2008. | ||
| We've been beyond addicted. | ||
| You're like a crack addict. | ||
| We are addicted to easy money. | ||
| We're addicted just to hitting the computer, boom, and creating money out of nowhere. | ||
| There are really going to be obligations to our children and our grandchildren. | ||
| And we're still addicted to easy money. | ||
| There's no solution. | ||
| I mean, if you look at Larry Summers, what he's talking about, It's biting the bullet. | ||
| Is there any appetite to do that among the Democratic Party? | ||
| The answer is no. | ||
|
unidentified
|
A short commercial break. | |
| Cortez, Harnwell, Yan, all next in the War Room. | ||
| As arrived, the new social media taking on big tech, protecting free speech, I'm cancelling cancel culture. | ||
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| By the way, MyPillow.com, promo code WORM. | ||
| Go check it out right now. | ||
| That's the square. | ||
| Action, action, action. | ||
| The great guys, Todd Wood and the team over at CD Media. | ||
| And I think they get this done by the pundit. | ||
| He does such an incredible job. | ||
| Polling out in Arizona. | ||
| Kelly in Masters, basically in a dead heat. | ||
| Kelly up three. | ||
| That's margin of error. | ||
| But a tight race there. | ||
| But the big one. | ||
| Joe Biden. | ||
| Cortez, I just got this to you, I think. | ||
| Biden, strongly approve 4%, strongly disapprove 54%. | ||
| I got to take a hat tip just for a little bit of the war room. | ||
| We said we'd kill this in the crib. | ||
| Now, we were just a small part of it. | ||
| But remember, we've been maniacally focused since we talked about we're going to kill this administration in the crib. | ||
| A, I don't care if Benny Thompson doesn't like that or Nancy Pelosi doesn't like it or who doesn't like it, Justice Department. | ||
| I don't care if you don't like it. | ||
| Suck on it. | ||
| We're destroying this illegitimate regime. | ||
| And the people in Arizona are reporting, they hate you guys. | ||
| They hate it. | ||
| How can you have a 50 point? | ||
| I've never seen a number like that. | ||
| Strongly approved, 4. | ||
| Strongly disapproved, 54%. | ||
|
unidentified
|
Steve Cortez, brother, give me your sense of that number. | |
| You know, listen, Steve, there has never been a political implosion like Joe Biden's. | ||
| I mean, never in American history has any major political figure, much less a president, Seeing this kind of absolute implosion of support. | ||
| this quickly. | ||
| It just is unprecedented. | ||
| I mean, it literally never happened before. | ||
| You know, I've talked a lot about his implosion among Hispanics. | ||
| He started office with a plus 39% approved, disapproved ratio, plus 39% in his favor. | ||
| It is now 51% against a 90% swing in that swing in a period of a year and a half. | ||
| I mean, this just doesn't happen in politics. | ||
| It's almost hard to fail that miserably. | ||
| It really is. | ||
| I want to bring in Harnwell. | ||
| Harnwell, Blockbuster News reported by the AP today on the guy you cover very closely, Lavrov, the foreign minister. | ||
| And this guy's a beast. | ||
| He did a full flex on Zelensky. | ||
| Tell us what he said. | ||
| Yeah, he was speaking late last night, Steve, at the Arab League summit in Cairo. | ||
| And he said, this is a change of policy, or at least a declared change of policy. | ||
| With regards to Russia and Ukraine. | ||
| And Lavrov said that Moscow is determined to help Ukrainians, and I quote, liberate themselves from the burden of this absolutely unacceptable regime. | ||
| He accused Kiev, and by connection its Western allies, of spouting propaganda intended to ensure that Ukraine, and I quote again, becomes the eternal enemy of Russia. | ||
| And he said that Russia's plan is for the two countries to work together, and Russia promised to help Ukraine get rid of this regime, which is absolutely anti-people and anti-historical. | ||
| Lavrov said Zelensky's got to go. | ||
| That's not a good sign. | ||
| That's a ratcheting up to the West. | ||
| Steve Cortez, connect that to capital markets and the economy, sir. | ||
| Listen, this is a scary situation, and all along we have been preaching de-escalation, right? | ||
| This is a regional struggle that could be solved through negotiation. | ||
| Instead, the United States and NATO, Biden and NATO, have been funding both sides of the struggle and have escalated it into an international phenomenon, which is incredibly unfortunate and frightening, quite frankly. | ||
| It's not just my opinion, it's the opinion of capital markets. | ||
| If we look at natural gas right now, which of course is critical, and particularly the natural gas supplies from Russia, so critical to all of Western Europe, Natural gas, as we speak, is up almost 4% on the day. | ||
| Natural gas is a very volatile commodity, Steve. | ||
| In June, it was just above $9. | ||
| It got all the way below $6 as recently as a couple of weeks ago. | ||
| Well, it is soaring back. | ||
|
unidentified
|
It is at $8.60. | |
| Right now, up almost 4% On the day it looks to me as though it wants to go back and grab those June highs and, in fact, probably eclipse those June highs. | ||
| Why? | ||
| Because the natural gas market is properly starting to price in the risks of even more escalation in the Black Sea and the situation between Russia and Ukraine. | ||
| So there are serious economic, not just strategic, but economic consequences to this massive escalation that the establishment Republicans, along with Joe Biden, have been stirring up for months over there with an enormous mountain of American money. | ||
| Yeah. | ||
| Start the next hour, we're going to talk about the geopolitics and the economics globally, how it's impacting citizens of the country. | ||
| You know, Zelensky, I want to go back to Jonathan Swan. | ||
| Jonathan Swan had this interview in Davos. | ||
| The Davos interview with Jonathan Swan, and they brought in Zelensky by videoconference. | ||
| And Jonathan Swan, on the main stage there, right after Henry Kissinger, I think, spoke, gave an interview. | ||
| And Zelensky, because we know those guys watch The War Room, we're lecturing War Room and ourselves that, oh, well, people should read the memoirs of World War II if they really want to know. | ||
| So Zelensky, and I said at the time, I have forgotten more about World War II than you will ever know, actor. | ||
| But I want to bring up something that I think Zelensky and their people should read. | ||
| The Best and the Brightest. | ||
| I think that's the book you ought to be focused on, not World War II. | ||
| Best and the Brightest, and particularly the section around President Diem. | ||
| And the Democratic administration was loving up on Diem, and Diem was the answer, until he wasn't. | ||
| And then they backed a coup against him. | ||
| I'm telling you, Zelensky is going to wear out his welcome with the same people that have propped him up. | ||
| We have warned about this from day one. | ||
| Now it's getting more and more serious. | ||
| More and more weapons are going in. | ||
| They're coming back. | ||
| Zelensky's government came back. | ||
| A month ago it was $5 billion a month. | ||
| Now it's going to be $9 billion a month, $750 billion to rebuild the country. | ||
| They're still fighting. | ||
| It's more and more weapons, more and more intensity. | ||
| Somebody has got, and the Republican Party has to force Joe Biden to come to the table and make a presentation to Congress and tell us exactly, somebody's got to kick in the War Powers Act. | ||
| What are we doing here? | ||
| What is the plan? | ||
| What is the strategy? | ||
| What is the objectives? | ||
| And how are we going to pay for it? | ||
| And what's America's part of it? | ||
| And the party of Davos, the EU, and NATO? | ||
| Cortez, Harnwell's got to stick around. | ||
| Cortez, give your social media so people can track you, sir. | ||
| Yes, please find me on the getter. | ||
| I'm at Steve, very simple. | ||
| And I'm also on Twitter for now. | ||
| I'm at Cortez, Steve Cortez with an S. Thank you so much, Admiral Bannon. | ||
| Thank you, sir. | ||
| By the way, for the folks in the Ukraine, our thoughts are with you. | ||
| Thank you. | ||
| This is a horrible situation. | ||
| As the University of Chicago professor said, he said they're leading you down the Primrose Path. | ||
| This thing is getting more and more and more serious, and we need to de-escalate, and we need to work out some arrangement where Ukrainians stop getting slaughtered because Western elites want to escalate. | ||
| Okay, talk about escalation. | ||
| They're trying to escalate on the Dutch farmers and more. | ||
| Michael Yan's going to join us. | ||
| We're also going to talk about what's happening with the Tory party in Italy, all of it, and how it interconnects with your economic, political, and cultural life here in the good old United States of America. |
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