Sept. 5, 2022 - Bannon's War Room
48:49
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unidentified
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Well, the virus has now killed more than a hundred people in China and new cases have been confirmed around the world. | |
| So 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. | ||
| That this is going to 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. | ||
| OK, welcome. | ||
| It's Labor Day, Monday, 5 September in the year of our Lord 2022. | ||
| You're in the war room. | ||
| It's the traditional, this is the last day of summer. | ||
| Everybody's enjoying it to get their batteries recharged one last time through this weekend for the big sprint. | ||
| Not just in November 8th, but all the way through the holidays and the end of the year. | ||
| There's so much going on, it's so slammed. | ||
| But I thought what we do today is to actually go through, since it's Labor Day and we want to honor the workers of America and we want to honor the work of America, that we talk about where we are as an economy, where we are as a nation, and then where we are with the great work of this nation, including its manufacturing and the jobs that are going to lead us out of this morass. | ||
| In fact, Dr. Prita Navarro, to join me, Dr. Navarro, I want to start off with Janet Yellen. | ||
| You know, we ended the week with Janet Yellen's Victory Tour, started the Detroit Economic Club. | ||
| I want your assessment. | ||
| What I want to do first in this show is kind of set up, as you do, just kind of a, with your Harvard PhD gimlet eye, look at really the world economy. | ||
| But start with her Victory Tour, then we're going to go to America, then we're going to talk about Europe, then we're going to talk about China. | ||
| Kind of set the stage. | ||
| For what we think is a is a blueprint, not just a political blueprint, but really an underlying economic blueprint. | ||
| And you outline it. | ||
| You've got a new book coming out, which we'll talk a lot more about later, but really go through this in detail to give the war room posse really the information they need and to be loaded with. | ||
| Not just for debates around the barbecue this afternoon and the cookout as they're closing up the summer house or the beach house, but really to go forward and to understand their own personal life. | ||
| One of the things I pride ourselves with, everything that you and Cortez and Jason Trunard and Dave Bratt, Dave Walsh, you know, the whole economic team we have on this is to really let people think through in their own personal life, right, what they're doing. | ||
| Dr. Navarro, I'll turn it over to you. | ||
| Walk me through her, because you were one of the highest guys, and I keep saying in a second Trump term, I think Navarro is, minimum, the head of the National Economic Council. | ||
| I would actually think you would be a Secretary of Treasury. | ||
| I would love to be there. | ||
| I'd love to get the TV rights for your confirmation hearings. | ||
| I can serialize that. | ||
|
unidentified
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That's the overrun on me getting 50 in the Senate. | |
| 50? | ||
| What's the overrun on you getting, like, 10 Republicans? | ||
| By the way, you may get more Democrats. | ||
| So, no. | ||
| I don't think we're betting on the 50. | ||
|
unidentified
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So, go ahead. | |
| Walk me through, Janet Yellen. | ||
| By the way, I had Cortez penciled in for NEC Director. | ||
| Hold it, hold it. | ||
| No, but hang on, hang on. | ||
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unidentified
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Ho, ho, ho. | |
| No, no. | ||
| You particularly, the reason I want to start with Janet Yellen, you have particularly singled her out for your... I'm going to grab the microphone finally away from you. | ||
| I'm going to lay this off. | ||
| Okay, fine. | ||
| I'm saying you've picked on her from the beginning of the administration, of this regime, and yet she's taken a victory tour. | ||
| She's taken a victory tour to the Detroit Economic Club, the most prestigious, and you're on War Room, so don't walk me through it. | ||
| Okay, so first of all, just let me say how special Labor Day is to me. | ||
| I mean, at the White House, I was the deplorable blue-collar guy in there fighting For American manufacturing jobs for black, brown, and blue collar Americans. | ||
| I always loved Labor Day because, you know, Gary Cohn was like in the Hamptons with Mnuchin and Kudlow was in his Connecticut mansion and Wilbur Ross was in Turkey sipping Turkish coffee. | ||
| And the only people in there were me and the boss, who was really concerned about the economy. | ||
| Labor Day is MAGA Day, okay? | ||
| If there's any day besides Memorial Day in the calendar, it's Labor Day. | ||
| Because MAGA is End Endless Wars, that's Memorial Day, and it's prosperity for the middle America and blue-collar America. | ||
| Now let's talk about Janet Yellen. | ||
| This Victory Tour, which she's proposing to go on, it's not just the Detroit Economic Club, Steve. | ||
| She's actually conducting from as treasury secretary, a political tour for the November election. | ||
| So she's hitting a number of different spots. | ||
| And this is the effect of complete turnout of Janet Yellen from respected academic to flat out Detroit pimp. | ||
| I mean, she's there. | ||
| I'd be surprised if she won't have bling. | ||
| She'd probably have a gold necklace. | ||
| I mean, this is bad. | ||
| And the reason why I say this, Steve, is you go back to January of this year in Davos. | ||
| And the speech she gave was the prelude to the victory lap, whereby she said things like, no sign of any problems with eviction. | ||
| The vaccine rapid deployment was creating great conditions for growth. | ||
| Inflation, according to professional forecasters, was going to be muted and life was good. | ||
| And, of course, everything that she has said has proven to be wrong. | ||
| And this eviction thing is, for me, like... | ||
| One of the bigger of many canaries in the coal mine because we're facing over 3 million new evictions just over the next several months. | ||
| So she has got it wrong and the other thing she did in Davos was co-opt the Ronald Reagan notion of supply-side economics. | ||
| Trump economics is supply-side economics in the sense of Trump focuses on Structural improvements in the economy, whether it's deregulation and lower tax burden, whether it's strategic energy dominance, whether it's fair trade. | ||
| And none of that, none of that is in the wheelhouse of Janet Yellen. | ||
| Instead, she is going to have this victory tour portraying what is a set of irresponsible, hyper-Keynesian stimulus bills. | ||
| And she's going to try to cloak them simultaneously as inflation fighters and productivity enhancers. | ||
| And meanwhile, and you and I are going to go around the world here over the course of this Great Labor Day special, we see All sorts of deteriorations, in a way. | ||
| And the thing that's totally missing in the Biden regime on Labor Day, and when Janet Yellen's like to count, is any reference to trade. | ||
| I mean, remember, as inflation goes up and interest rates go up here, and the U.S. | ||
| dollar gains relative to the euro and the yuan and the yen, what we're going to do is suck in more and more imports from the rest of the world to press our own manufacturing and growth At the same time that crises in places like Europe with, I mean, that place is going into the dark ages this winter. | ||
| They're not going to be buying our stuff. | ||
| They're not going to be able to ship stuff to us at decent prices because of their energy and supply chain issues. | ||
| And so she's just, I mean, she's going to try like a good, loyal political soldier at Treasury to get the House Re-elected as Democrats. | ||
| The Senate re-elected as Democrats to boost Joe Biden's numbers. | ||
| But hang on, hang on, hang on, hang on, hang on, hang on, hang on. | ||
| You're burying the lead. | ||
| I want to go back because it's very important. | ||
| This is why I'm so proud of you and Cortez and us calling it, you know, back in February of 2021, we were on point about what we saw, their initial economic. | ||
| And we said, you guys are first ones. | ||
| And in February 26, You know, a year and a half ago, this is going to be stagflation. | ||
| They're going to drive a recession and unbelievable inflation. | ||
| When people were laughing at us, what do you mean inflation is nothing, etc. | ||
| Go back to Davos. | ||
| I want to deconstruct this speech first, because it tells you her job is looking over the other side of the hill. | ||
| Her job is, she's got an army of people, they have tens of thousands of people at Treasury. | ||
| Peter Navarro's got himself, we've got a couple of people here. | ||
| I want to go back to that Davos speech, what she forecasted out, and remember, the Financial Times, the Economist, they were lauding this, this was Biden, had had a new formula. | ||
| The American Recovery Act had passed. | ||
| Biden had done it all. | ||
| His numbers were starting to come down because of Afghanistan and other things. | ||
| We started talking about the inflation was starting to hit, but they were still allotting him. | ||
| She went down, and not doubled down, she tripled down. | ||
| But I want to go through specifically what she laid out and how dead wrong she was and how the policies have exacerbated the crisis we're in today, sir. | ||
| Well, look, the central core of her miss, her failure to look over the horizon, was her miss on inflation. | ||
| And she doesn't seem to understand that the particular kind of inflation that has been brewing in the economy that you and me and Cortez and others have been talking about on The War Room is also the kind that breeds Recession. | ||
| There's no coincidence, Steve, and for the podcast you can't see it, but behind me is the 1970s on my screen here, the stagflation years where you had simultaneous slow growth and inflation. | ||
| She missed that. | ||
| She said she missed that. | ||
| Jay Powell said he missed that. | ||
| How the hell do you miss that? | ||
| When the deplorables on The War Room are telling you flat out it's coming, when I wrote a memo in May of 2020, when I was still in the White House, that said stagflation's coming because of everything I'm saying unless we do X, Y, and Z. And guess what? | ||
| Instead of doing X, Y, and Z, when Biden regime comes along, they did A, B, and C, which got us right to the destination faster, the stagflation destination faster. | ||
| No credibility. | ||
| One last time, before we start talking about the different economies, her victory tour is offensive for the reason that, and not just about the politics, obviously the Treasury Secretary, some are more political than others, which is offensive in its own right. | ||
| It is the lies and misrepresentations. | ||
| I mean, they take this, let's be honest, this last thing they passed, the inflation reduction, it's Orwellian in its title, but it's literally a payoff. | ||
| It's a payoff. | ||
| They think they're going to lose the Senate. | ||
| Joe Manchin and these guys are literally paying off their corporate sponsors, crony capitalism, their donors, and bailing out. | ||
| It's a bailout of the underwater sustainable energy business, which is all underwater, not even close to being profitable, bleeding cash. | ||
| This is just a payoff. | ||
| And she's going around talking about that's the victory lap. | ||
| Look at what we've got. | ||
| And really, it's just it's what fascism is. | ||
| You have total control of the state. | ||
| You just pay off your sponsors, Peter. | ||
| The problem we're facing here is that they have the ultimate megaphone. | ||
| In a corporate media, which is vested in making sure that the House hangs on with Democrat leadership. | ||
| So you're going to have the obligatory CNN, MSNBC spinning whatever positive news they can find. | ||
| But you're also seeing CNBC, even Fox Business. | ||
| They're not drilling down into the real Whirlwind that's sweeping around us. | ||
| I mean, as we speak, the stock market has established a bearish pattern at the same time the bond market has. | ||
| Steve, you and I have talked about this, and it's a subtle but important point for the posse here, is that when you have stock prices going down, that's recession, and you have bond prices going down, that's inflation. | ||
| And the whole Wall Street paradigm is based on the fact that never happens, that if you Recession, inflation's supposed to be going down, so the bonds are going up. | ||
| But we're seeing the stagflation forecast, so everything the markets are telling us, everything our eyes are telling us as we scan around the world, we're going to do that one of the next segments. | ||
| We go around the world and I'll tell you exactly why. | ||
| Exactly why we're going to town. | ||
| We're going to take a short commercial break. | ||
| Peter's got the new Blueprint out. | ||
| It's going to be available in a couple of weeks in pre-order. | ||
| We're going to talk a lot about that, the Blueprint and how we get back on track. | ||
| We're going to do a tour of the horizon from America to Europe to China to all of it. | ||
| Also, Peter's going to give us some more thoughts on why Labor Day is MAGA Day, why Labor Day is the high holiday for MAGA. | ||
| Short commercial break. | ||
| We're going to be back in our Labor Day special in a moment. | ||
|
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. | ||
| Taking Back Trump's America. | ||
| That's the incendiary new book from former Trump trade czar Peter Navarro. | ||
| Available on Amazon today. | ||
| Stephen K. Bannon calls Taking Back Trump's America a brass-knuckled insider's account of the merciless 2020 fall and miraculous 2024 rise of the White House of Trump. | ||
| Taking Back Trump's America is the blueprint for a new Trump White House that will truly make America great once again. | ||
| Order Taking Back Trump's America today on Amazon. | ||
| It is definitely brass knuckles. | ||
| Welcome back. | ||
| We're on the Labor Day special and we want to thank everybody at Real America's Voice to make this happen. | ||
| We love doing these holiday specials. | ||
| We're doing a tour to the horizon of the world economy where we stand as kind of a jumping off point. | ||
| For the sprint to November 8th and beyond, after we get in office about executing. | ||
| Peter's book is not just what the problems are, it's what the solutions have to be, which makes it very, very powerful. | ||
| Also, talking about solution, I want to make sure everybody goes to birchgold.com forward slash Ben, and I've got my second part. | ||
| You know, first part I did the politics of money. | ||
| This is the end of the dollar empire. | ||
| This is part two. | ||
| This is about the falling of the U.S. | ||
| dollar as a reserve currency. | ||
| The Financial Times has had a piece about about the reserve currency of the day. | ||
| We're going to put that back up on Getter. | ||
| Everybody's got to read this. | ||
| We're going to do, I think, 5, 6, 7, 8 of these to get people up at the end of the dollar empire. | ||
| Part 2, it's all free. | ||
| It had a huge turnout for the first. | ||
| If you haven't gotten the first, go to birchgold.com forward slash Bannon. | ||
| You get the first one, The Politics of Money, and then you can get Part 2. | ||
| Part 2 is out now, officially, over the weekend and today. | ||
| I want to go back to Dr. Navarro. | ||
| Peter, give me a couple of minutes, because I don't think a lot of you, a particular new audience that have come on in the last year or so, that weren't with the show in 19 during the impeachment and weren't there in 2020 during the pandemic, appreciate Really, the kind of blue collar nature of really Trump's outlook on life, although he comes from Queens and, you know, he was born into a real estate family, but dead, very hardworking, tremendous work ethic. | ||
| Obviously, the president is a seven day a week guy, doesn't drink, doesn't really party, plays a little golf, but even golf is he's networking and working the entire time. | ||
| But he's a seven day a week guy. | ||
| You, I'm not sure you took a day off in your four years in the White House. | ||
| You were there every day. | ||
| But why is And we've done these specials now for a couple years. | ||
| Why is Labor Day, MAGA Day, the high holy day of, or the high holiday of MAGA? | ||
| Steve, MAGA, as distinguished from Rhino Republicanism, focuses on what I call the Iron MAGA Triangle, and it's the end of endless wars. | ||
| Certainly. | ||
| It's the Fair Trade, which is kind of at the top of the list, and it's the Secure Borders. | ||
| Now, if you look at that iron triangle, two of those legs, Secure Borders and Fair Trade, basically speak directly to the deplorables. | ||
| The black-brown, blue-collar Americans, Working in manufacturing. | ||
| And trying to earn a living in difficult, globalized times. | ||
| And Labor Day, traditionally, the great parades, it belonged to the deplorables. | ||
| And as I said in our last segment, it's always been a special day to me, particularly when I was in the White House. | ||
| It was the one day every year where I was assured I could be in the White House, Not surrounded by, you know, Mnuchin and Gary Cohn off in the Hamptons, or Kudlow in Connecticut, or Kushner back wherever he would go. | ||
| And the boss always understood Labor Day. | ||
| He got it. | ||
| He knew that Labor Day was the sweet spot of the sweetest of spots in the battleground states, particularly across what has become, unfortunately in many cases, the Rust Belt, the place where All of the factories got bundled up and shipped off to China. | ||
| And the four years I spent in the White House, every day was Labor Day. | ||
| We were trying to get those back. | ||
| So it's a very special day in this country. | ||
| And we, as a country, need to remember its importance, because without labor earning Decent, real wages. | ||
| We don't have a country. | ||
| And that's where we're in now, Steve. | ||
| That's the problem. | ||
| I mean, we've got just an army of illegal aliens streaming across our border. | ||
| That bill's come undue, and the people who are at the front lines of that are going to be the affordables. | ||
| Is that driving down wages? | ||
| Is that driving down wages in the service industry among American citizens, African Americans, and Hispanic Americans? | ||
| Is that driving down wages in the service business? | ||
| And just wait, because we were talking about the lies of Janet Yellen. | ||
| She gets on, she goes to Davos, right, and among one of the many lies she tells is that immigration's down. | ||
| She's talking about how immigration levels are down. | ||
| It's like, okay, maybe legal immigration, but are you kidding me? | ||
| And so, these are all destabilizing forces. | ||
| So for me, I think it's a really good time to... | ||
| Think about what MAGA means. | ||
| We are not the fascists that Joe Biden would have us portray. | ||
| It's very, very simple. | ||
| It's like people who shower after they go to work rather than before they go to work. | ||
| That's who we are. | ||
| We are the hardworking people that provide Things around this country, and we've been shunned aside, and I'm telling you, Steve, this inflation, again, the picture behind me, that's the 70s. | ||
| It's just going to eat away at the fabric of our economy and society. | ||
| Before we get to the different economies I want to get into, I've got to bring up two political things. | ||
| Ro Khanna, who's kind of the head of the progressive wing from Silicon Valley, up there in Northern California, a congressman who has presidential ambitions. | ||
| He's been in the Midwest, and Politico's been all over this, making this round. | ||
| He says, we're Trump voters, and kind of moderates or independents and Democrats are listening to this guy. | ||
| And his whole tour is called Economic Patriotism. | ||
| Well, what is the difference from what Ro Khanna is talking about with economic patriotism, that Democrats sitting there going, hey, if we ever want to get these Trump voters back, we got to be preaching this and acting on it. | ||
| What is the difference between economic patriotism and Peter Navarro's economic nationalism, sir? | ||
| Rhetoric versus reality. | ||
| I mean, you mentioned where Ro Khanna comes from. | ||
| Silicon Valley. | ||
| I mean, besides Wall Street, Silicon Valley is the primary catalyst for the offshoring, not just, Steve, not just of our jobs and our labor, but also of our technology. | ||
| I mean, it's Silicon Valley that arms the Chinese communists with the technology that they then employ their people with To basically send subsidized products here to America to put people out of work. | ||
| To Ro Khanna, if he was sitting right in front of me, I'd say, what took you guys so long in the Democratic Party to at least adopt the rhetoric? | ||
| I mean, you got Janet Yellen preaching supply-side economics to support their Keynesian policies on steroids causing inflation. | ||
| You got things like the Inflation Reduction Act being jammed down the throats of people by CNN when it's actually going to spur inflation. | ||
| You got Tim Ryan in Ohio running against J.D. | ||
| Vance saying he's like a blue-collar supporter going to get a manufacturing back to Ohio. | ||
| Look, Tim Ryan was in my Death by China film. | ||
| He talks the talk, but that dude has not walked the talk. | ||
| He has been part of the Joe Biden, Nancy Pelosi stagflation machine. | ||
| And so, you know, we got to, we got to, you know. | ||
| We're fighting back. | ||
| Buy American, hire American. | ||
| Those were the two simple rules of Donald John Trump. | ||
| That was what I did at the White House. | ||
| They're co-opting our rhetoric. | ||
| But hang on. | ||
| I want you to walk through. | ||
| Right now, because Biden's saying he's signed this Buy American. | ||
| Why, when you were in the Trump White House, I want people to understand how hard it is to get Buy American, to even get it signed, but more importantly, to get it implemented. | ||
| It's not far from perfect now. | ||
| People talk, and I'm telling you, if you want to get votes, you walk around and say, Buy American, Hire American. | ||
| And for most people, including Ro Khanna, it's totally empty rhetoric. | ||
| You, sir, were the tip of the spear and the driving force on Buy American. | ||
| And I can tell you from my time in the White House and then afterwards knowing you so well, there's probably nothing you worked on that people say, no, no, no, get out of here, get out of here. | ||
| What is it structurally in our country that's one of the big forces that pushed back even in a Trump administration on Buy American, sir? | ||
| If you look at the Democrats on the Hill, they're the party of Davos, they get a lot of money from the corporations of the world that love to offshore our jobs. | ||
| So that's just pure profit politics. | ||
| And then you've got the rhinos, like the Koch Network folks, they're in the same camp. | ||
| And then you've got the purest libertarians, Guys like Mick Mulvaney in the Freedom Caucus. | ||
| I had to fight Mulvaney. | ||
| There's great stuff in the book about it. | ||
| I had to fight Mulvaney from day one on Buy American, Hire American. | ||
| It's like, Mick, that's what the president wants. | ||
| Why are you supporting it? | ||
| He goes, well, it's going to increase the costs. | ||
| No kidding! | ||
| We're trying to fight the unfairness of China dropping subsidized products down into South Carolina. | ||
| Wouldn't you rather have factories there? | ||
| So it's like, whether it was the Mnuchin, Kudlow, Cone Wing of the West Wing fighting me because they were rhino types. | ||
| And here's the thing, Steve. | ||
| Hold that. | ||
| We're going to take a break. | ||
| We're here at Peter Navarro walking through the world economy, the American economy, on Labor Day and what it is to buy American and hire American. | ||
| It sounds great, ain't so easy to do, but most importantly it must be done. | ||
| All next in The World. | ||
|
unidentified
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They put Peter Navarro in leg irons for simply doing his constitutional duty. | |
| Now they want to put Peter in prison for standing up for Donald Trump. | ||
| Please go to Amazon right now and order Taking Back Trump's America to help fund Peter's legal defense. | ||
| Taking Back Trump's America provides a critical MAGA blueprint to put Trump back in the White House in 2024. | ||
| Buy Taking Back Trump's America on Amazon today. | ||
| If they can put Peter Navarro in prison, they can come for all of us. | ||
| Thank you. | ||
| Okay, welcome back to the Labor Day Special. | ||
| By the way, was it Gary Cohn and Mnuchin that sick the FBI on you? | ||
| They're the ones that wanted you in leg irons, right? | ||
| I think it's safe to say it could be Nancy Pelosi, because the latest thing the Democrat House has done He's filed an amicus brief in my case to make sure I go into prison. | ||
| So that's another story for another day. | ||
| But I want to get back to Cohen and Kudlow, Mnuchin, and Mick Mulvaney, the Republicans. | ||
| The establishment Republicans, they say, look, Bannon and Navarro, they got these good ideas, but they play to Trump's worst elements. | ||
| And here's the problem is that because they're not particularly sophisticated, yeah, they try to stand up for working class people, but the system is not. | ||
| If we did the Buy American, because we're a globalist economy, we're completely interlocked throughout the world. | ||
| And what we should always be doing to make sure that the junk that's sold in Walmart, which doesn't include MyPillows, because that's made in the United States, and because he stands up, Mike Lindell stands for your political beliefs, they've banned him from Walmart, where they're taking the Chinese and all the pillows made from around the world, but not the American pillows, which you can get from 1988 by going to MyPillow.com, promo code War Room. | ||
| How's that for a segue? | ||
| Do that? | ||
| No, but Navarro, they said, look, Peter Navarro, he's a fighter. | ||
| He clearly has Trump's ear. | ||
| But here's the problem. | ||
| Even though he went to Harvard, he's a little too supportive of working-class people because he's naturally, you know, he's always a fighter for the little guy. | ||
| He's a Bantam rooster, but he's a fighter for the little guy. | ||
| And here's the problem. | ||
| In the interconnected economy that we have, It's just, it's very unsophisticated, that you always want to go to the lowest source of production, and really the United States is just a marketing engine that sells to people that essentially work in service economy. | ||
| Gary Cohn would say over and over again, we're a service economy, we're a service economy. | ||
| So Peter, when you go internally, forget the Democrats. | ||
| Because the problem is the establishment Republicans, when you would sit there and go, no, no, no, no, we have to have Buy American and we have to have Hire American, nothing would bring out their true colors in that. | ||
| Because whether it's Cohen or Mnuchin or Mick Mulvaney or the Chamber of Commerce, which if you mention Peter Navarro's name at the Chamber of Commerce, they literally spit right on the floor. | ||
| What about their arguments is that Navarro's heart's in the right place, but his head's in the clouds, and this is horribly inefficient, it's a squandering of resources, it's inflationary, it's every bad thing you can want, and it's going to fail because it doesn't support creative destruction, Dr. Peter Navarro. | ||
| Well, I think, first of all, you have to distinguish between rhetoric to advance corporate interests versus true believers. | ||
| I mean, I think a guy like Mulvaney truly believed that buy American, hire American was a bad policy, that it would be inflationary, whereas Cohn, Goldman Sachs, he was simply carrying the water for the Wall Street corporatists who want to send jobs abroad. | ||
| There's two things to say, first of all. | ||
| One, for more than 20 years I've been arguing that we've consistently underestimated the geopolitical risk of offshore supply chains. | ||
| And that has come home to roost now in spades. | ||
| I have been proven right on that in spades right now. | ||
| The idea that we've got our supply chains spread all over the globe has now led to the fact of stagflation and contributed to that. | ||
| So my point here, first of all, is they don't properly assign risk to the calculation, right? | ||
| They just go for the sweatshops and the pollution havens. | ||
| The second thing, I always say, it's a snapshot view of the world versus a movie view of the world, a static versus dynamic view. | ||
| In a static perspective, yes, we have prices go up, prices go up. | ||
| I would say here even in a static view about 40% 40 cents on every dollar come back to the tax base. | ||
| So that's good. | ||
| So whatever a dollar you spend on buy America. | ||
| You get a bunch of it back. | ||
| But here's the thing, Steve. | ||
| Over time, it's the dynamic view, it's the movie view, where you get more and more manufacturing here. | ||
| Now, a central lesson I learned in my China research is when the manufacturing goes offshore, the service jobs have to follow it. | ||
| The supply chain follows it. | ||
| And so when you reestablish manufacturing through Buy American Hire American policies, you're not only creating a job at the manufacturing level, you're bringing the supply chain back home, which is both safer and cheaper. | ||
| So the movie version of this, and this is pure Trump deplorable, Steve. | ||
| The movie version is we're all better off in this country under Buy American, particularly the black, brown and blue collar Americans. | ||
| That don't have the money to go to college, so they don't have their loans forgiven. | ||
| High school educated, in manufacturing, prosperous, safe. | ||
| Let me go. | ||
| I want to go to the supply chain situation. | ||
| Maybe this will get us a segue into the American economy. | ||
| But in September of 2022, sir, given all the efforts that you had during a pandemic, the medical supply chain, the drug supply chain, because now know because you expose it and we had people on here in those early months of February, March and April of 2020 exposing it. | ||
| Has any of the really supply chain, even with the efforts of Trump, And Biden, the disaster, because they always argue, hey, the inflation is caused by supply chain disruptions. | ||
| Has any of the supply chain really started to come back, particularly on the manufacturing side, or at best, because of the now obviously geopolitical issues with China that we, I think, you and I and the world have been at the forefront. | ||
| Miles Guo of saying how radical the CCP is and how dangerous they are being business, that you see that dispersing maybe to other parts of Southeast Asia, maybe to Vietnam, maybe to other Malaysia, maybe even parts of Taiwan. | ||
| Have we made any progress in your mind, given we had this pandemic that exposed it to the world, of essentially bringing America's supply chains home? | ||
| Well, Steve, let me say that in the White House, over the course of the four years, we were able to sign a large number of Buy American, Hire American orders. | ||
| And we saw, through the statistics, a steady improvement in the amount of government dollars on that. | ||
| So there was progress. | ||
| Biden has undone every one of that, and in some sense, I want to blow your mind here with a little story that's out of the Taking Back Trump's America book, because one of the things that got away from me, and it wasn't just Mnuchin and Kudlow and Mulvaney, there was one thing I got in conflict with with Lighthizer as a trade rep. | ||
| It's like the boss and I, POTUS and I, wanted To rescind this agreement we have with the WTO, the World Trade Organization. | ||
| Steve, I'm going to blow your mind here. | ||
| Effectively, there's more than 30 countries that we treat as America for the purposes of buy American procurement from the U.S. | ||
| government. | ||
| It's crazy. | ||
| Hold it, stop. | ||
| We would have been able to undo that with one signature. | ||
| Stop. | ||
| Nobody knows that. | ||
| Walk me through that again. | ||
| There are 30 countries that are defined as America. | ||
| More than 30, yeah. | ||
| Stop. | ||
| Most of Europe. | ||
| Okay, here's the way it works. | ||
| Stop. | ||
| Stop. | ||
| Is that true? | ||
| Is that true? | ||
|
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Hold it. | |
| It is true. | ||
|
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We include other... Hang on, Steve. | |
| Let me just give you this, because this was... The General Agreement on Procurement in the WTO, the GPA, it says, for the purposes of Buy American Procurement bidding, We treat those countries like they're America. | ||
| Germany, France, Spain, Italy. | ||
| And my head exploded when I found that out. | ||
| And I spent like the better part of four years, you know, the boss always wanted, let's get the hell out of the WTO. | ||
| I was like, hey, that may or may not be a good idea, but how about this as a first step? | ||
| All Lighthizer had to do was sign one little letter and said, hey, we're out of this. | ||
| And they couldn't retaliate against us. | ||
| There was nothing they could do. | ||
| We were just out. | ||
| But, I mean, think about that, Steve. | ||
| That's the kind of institutional problems we're up against. | ||
| And I'll tell you what, there's these agreements that the Pentagon has, country to country, That way by American. | ||
| And it's like, I look at this and it's nuts! | ||
| Are you kidding me? | ||
| But that's the kind of fights we had, this institutional attitude, the Party of Davos, that decades ago we decided we were going to make the rest of the world prosperous as a way of making us prosperous. | ||
| This is outrageous, but you buried the lead. | ||
| You said something here was explosive. | ||
| Joe Biden goes to Scranton, you know, that knee-jerk reaction to say he's Joe from Scranton. | ||
| The people of Scranton know it's a joke. | ||
| But he's made a huge deal of signing all these Buy Americans. | ||
| I want to be very specific here, because you had, I don't know how many executive orders that President Trump put in place on Buy American, Hire American. | ||
| You're telling me he undid all of what you did he undid? | ||
| But did he do things better? | ||
| Because they pride themselves on saying that he's the bi-American guy now, that Trump really didn't do anything. | ||
| He did not do all of them, but what you need... My mission in the White House, besides getting executive orders signed, it was kind of like the Bill Murray caddy shack thing with the gopher holes, right? | ||
| It's like every year in the appropriations bills, you had congressmen and senators putting little waivers in as part of broader packages, trying to waive Bi-American. | ||
| The worst guy until he deceased was John McCain, okay? | ||
| But it was like a constant fight, and my deputy Alex Gray and I were like, okay, we gotta, like, respond to that one. | ||
| I mean, I'm telling you, Steve, it's the war and the Jones Act, which is the oldest expression of bi-American. | ||
| Which basically says that if you've got ships going from point to point within the U.S., they have to be built, crewed, and owned by Americans. | ||
| It's like that's the lifeline to a shipbuilding industry that's almost dead anyway. | ||
| And they're constantly going after that. | ||
| So my point is that unless you have Trump deplorables inside the deep, Administrative state beast in the West Wing and everywhere in between in that bureaucracy, you're going to get people who are basically anti-labor. | ||
| And that's why this Labor Day is important, Steve. | ||
| Labor Day and Memorial Day are the two most important days to the deplorables, because the Iron Triangle maggots, the end to endless war, secure borders, and fair trade, which means fair treatment of American workers and manufacturers. | ||
| Peter, hang on for one second. | ||
| He's got a new book out. | ||
| You've got to get it. | ||
| This is kind of the blueprint for going forward. | ||
| It's how to win in November, but as importantly, because we know we're going to win, if we keep our shoulder to the wheel and eye on it, but it's about what we do afterwards. | ||
| And this is why this book is so important. | ||
| People talk all the time about everybody identifies the problem, nobody identifies the solution. | ||
| Dr. Peter Navarro has drilled down to do that. | ||
| We're going to take a short commercial break. | ||
| We're going to turn with Dr. Navarro. | ||
| He's going to give us his assessment of the world's economy, the American economy, and what actually needs to happen to fix it. | ||
| It's Labor Day. | ||
| It's our special. | ||
| It's MAGA's holiday. | ||
| We're going to take a short break. | ||
| We'll be back on Real America's Voice in the War Room next. | ||
|
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It's all started, everything's begun And you are over Cause we're taking down the CCP Spread the word all through Hong Kong We will fight till they're all gone We rejoice when there is no more Let's take down the CCP Getter has arrived. | |
| The new social media taking on big tech. | ||
| Protecting free speech. | ||
| And cancelling cancel culture. | ||
| Join the marketplace of ideas. | ||
| The platform for independent thought has arrived. | ||
| Superior technology. | ||
| No more selling your personal data. | ||
| No more censorship. | ||
| No more cancel culture. | ||
| Enough. | ||
| Getter has arrived. | ||
| It's time to say what you want, the way you want. | ||
| Download now. | ||
| Okay, welcome back. | ||
| I want everybody also to understand, go to birchgold.com forward slash Bannon. | ||
| I've done this series, and one of the things I pride this show in is being able to take people with no economics background, middle class and working class people, and you'd be shocked by the people who've come to me that are highly educated. | ||
| Man, I didn't know any of this. | ||
| I didn't really know how the economy worked. | ||
| I didn't know how it was inextricably linked to Europe. | ||
| I didn't understand our reliance on the Chinese Communist Party. | ||
| We pride ourselves. | ||
| This show is as sophisticated a business show as you can get, and I get this from hedge fund guys all the time. | ||
| But we make this show for the MAGA and the deplorables, and what I'm so proud of is how you guys have responded to it. | ||
| And that's why we put these books out, whether it's Lords of Easy Money, or the Trillion Dollar Triage, or Dr. Navarro's books, all that, because we want to get as much information to you as possible. | ||
| You'll see a change in your life. | ||
| You'll see a change of how you look at the world when you understand it's about money and power. | ||
| We're obviously fighting a great spiritual war, but in the temporal sphere, it's money and power. | ||
| I want everybody to go to birchgold.com forward slash band and you get the second installment of the end of the dollar empire. | ||
| This is on the prime reserve currency. | ||
| It's a prime. | ||
| It's a primer on that. | ||
| So you understand we talk prime reserve currency. | ||
| What an important concept that is. | ||
| And I want to thank Dr. Peter Navarro, who's been with us since we started the show back in 2019, has just done such a great job of explaining everything and really layman's nomenclature with using all the sophistication of his Harvard PhD. | ||
| I think one of the reasons I love your book, and I gave such a shout out to it, that you heard in the spot, is particularly in this book, you talk about not just the issues, you break down, but you also talk about the actions. | ||
| Why do you think, because people don't know you, you're like a brother to me, but when Navarro's working on a project, you can't get him. | ||
| I mean, when he's doing this book, you just can't, he's just, he's so maniacally focused on the problem at hand, it's like he was in the White House, that's why Trump loves him so much, and trusts him so much. | ||
| What is it about this book and this time? | ||
| Because everybody comes to me and says, Steve, I'm overwhelmed with the problems. | ||
| I need somebody to give me a clear, common sense solution. | ||
| Dr. Peter Navarro. | ||
| Steve, thanks so much for this. | ||
| Look, the Taking Back Trump's America book, what I try to always do is see this chessboard, to look over the horizon in Admiral Bannon's terms. | ||
| And I think one of the First contributions of the Taking Back Trump's America book is to have, I think, the most complete explanation of what MAGA is, who the deplorables are, what we stand for. | ||
| And I think just folks reading that portion of the book will be able to much better defend ourselves against the slings and arrows of people who wanna call us domestic terrorists or fascists or any of that. | ||
| And as we talked about earlier, Steve, the Iron Maga Triangle of populist economic nationalism is the end to endless wars, the secure borders, and most of all, and I was the tip of the spear on this, is fair trade with the rest of the world. | ||
| So I think that in and of itself is an important contribution. | ||
| The second thing is, one of the important principles of the book, it's the canon of Bannon, right? | ||
| It's action, action, action. | ||
| And I lay out in the book the critical, absolutely critical importance, not just getting the White House back in 2024, but first and foremost, getting the House of Representatives back, not for Republicans, but for Trump Republicans. | ||
| I explain how, in 2018, we lost the House because of mistakes made inside the White House, facilitated by Mitch McConnell, where we focused too much on the Senate, not enough on the House. | ||
| That unleashed Pelosi, Raskin, Schiff, and this unconstitutional and illegal use of Congress's investigatory powers. | ||
| The Taking Back Trump's America book really is an exclamation point as to why and how we have to take back the House. | ||
| And then moving forward in terms of once power is put back in the hands of the people, the deplorables through Trump Republicans, we have to get back to the kind of structural, economic solutions that are gonna deal with what's gonna be a stagflation crisis that's gonna make what we experienced in the 70s look like a walk in the park. | ||
| And I was there in the 70s, a prime age when that was happening. | ||
| And it was not a good time for anybody. | ||
| And it went on for more than 10 years. | ||
| And so the Taking Back Trump's America book. | ||
| I could have called it Taking Back Trump's Economy, but it's more than that. | ||
| But that's basically why I think this book is timely and important and can help carry us into November as we're fighting the poll suppression and all of this from the Democrat establishment who are trying to do everything they can. | ||
| The big borrow and steal November and hang on to power. | ||
| I cannot imagine a world, Steve, right now where the Democrats hang on to the Congress in 2022 and the White House in 2024. | ||
| We will not have. | ||
| country as we know it for the deplorables we all love. And so that's what the Taking Back Trump's America book is about. I hope people will give it a chance. Go and pre-order it on Amazon right now if you can. | ||
| Let's drive it up to number one. My last book in Trump time, which was the first of my White House memoirs, in large part because of the war room, was the best-selling book of the Trump memoirs. | ||
| This one's explosive. | ||
| As Steve Bannon says, it's brass knuckles, I hold nothing back, and I explain why In the next administration, we have to do a whole lot better in terms of the people we surround President Trump with, so he gets to do what he needs to do. | ||
| We're going to go to a 90-second break to start the second hour, and we're going to get into some hardcore economics on that, and everybody needs to hear this about what's going on in the world, what's going on in your life. | ||
| We must win in November. | ||
| What Peter said is absolutely 100% correct. | ||
| We must absolutely win in November. | ||
| And this is the kickoff of this. | ||
| Remember, Labor Day is the traditional end of the year, end of the holidays, the summer, and the start of that sprint towards the Christmas holidays. | ||
| But in between there, we have November 8th. | ||
| We have to win. | ||
| And then after we win, and I mean win, I mean 40, 50, 60 seats in the House, we then have to know what we're doing with governing. | ||
| One of the things we're getting to the next is this thing called the Appropriations Process, the Appropriations Bill. | ||
| That is one of the greatest powers the founders gave the House of Representatives, really the House of Commons for the American people. | ||
| But the games that are played, the tricks that are pulled, you're going to hear it all next, where? |
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