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Sept. 14, 2022 - Bannon's War Room
48:53
Episode 2152: MAGA Blow Out In New Hampshire
Participants
Main voices
s
steve bannon
18:31
s
steve cortes
09:46
Appearances
j
joe rieck
03:28
Clips
j
joe scarborough
00:44
m
mika brzezinski
00:56
| Copy link to current segment

Speaker Time Text
unidentified
It calls what happened at the polls yesterday a blowout victory.
Now here's a look at the latest results.
Leavitt pulled off the projected win despite being told a year ago that she was too young and couldn't raise the money to win the GOP nomination.
The 25-year-old from Atkinson sharing tears of joy with friends and family and supporters at her election night headquarters in Hampton.
She believes much of what resonated with voters is that she's a homegrown candidate, an American first conservative who will bring a young perspective to Washington.
I am so humbled and honored to be considered the Republican nominee for my home district.
This was a historic and extraordinary victory tonight.
You know, like I said in my speech a year ago, I got into this race.
Not many people believed in me outside of my family and friends in this district.
Levitt says she expects another victory in November because, in her words, we have a country to save.
Her general election opponent, incumbent Democratic Congressman Chris Pappas, released a statement last night saying in part that I will fight with everything I've got to stop extreme politicians like Caroline from hijacking our democracy.
New Hampshire's closely watched primary elections.
In the Republican Senate primary decision desk HQ projects close Trump ally and political newcomer Don Balduck has beaten the more moderate Chuck Morse.
Spalduck has said that he would not certify President Biden's re-election in 2024 if he wins.
steve bannon ▲ ● ▼
Okay, an earthquake out of New Hampshire, the Granite State last night.
You're in the War Room.
It is Wednesday, 14 September, in the Year of Our Lord 2022.
I want to go to General Don Bolduc, an American hero and an American patriot, against overwhelming odds.
General, you pulled it off, and I think the object lesson here is that Money at the end of the day doesn't matter.
Character, drive, determination, and particularly connection.
One of the great, I think it was George Bernard Shaw said, only connect.
And you certainly connected with Granite Staters.
Tell us first off, before we talk about today forward to November 8th, I want to hear from you how you actually won this insane, incredible, really come from behind victory against all odds, sir.
unidentified
Well, you know, two years ago when I When I announced my campaign, I was contacted by many people in the state of New Hampshire that were considered political elites and wealthy, those that were connected to the establishment, both present and past.
And I was told, I don't have a prayer.
You don't have our support.
You can't win.
We dictate the terms for elections, not the people of New Hampshire, was the message I received.
And I told them, well, we'll see.
And so what we did was we took precinct type strategy, bottom up Unconventional approach, but really not unconventional.
It is the way we should be doing all elections, talking to the people, getting out there in every town and city and connecting with voters and convincing them that you will have their back, that you will support them, that you will be transparent.
Tell them the truth.
Be accountable and be responsible.
And more importantly, go to Washington, D.C.
and fight for them free of the burden of special interest lobbyists and the wealthy political elite.
Just do your job for the people.
Know your job and do it.
And my job is to serve them and collectively serve them for the betterment of their families, their livelihood, their future of their children and grandchildren.
You know, God was with me on this.
I'm so thankful to him.
My family was with me 100% of the way.
And people in communities that we build tight bonds with that went around, knocked doors, made phone calls, you know,
Nothing could have been more important than the last week of this campaign where four million dollars came in and other PACs came in and really essentially told lies about me and tried to undermine the campaign from the top down and we had to leverage every aspect of our bottom-up campaign.
A thousand volunteers out there in all the counties and in the different areas of New Hampshire to counter this messaging.
Because people that just woke up to the election in the last week were seeing Don Baldick is a Taliban collaborator.
Don Baldick supports Joe Biden.
Don Baldick support Joe Biden's war plan.
You know, all these things that were being said that were complete lies.
We still had to make phone calls.
We still had to tell people, hey, not true.
Not true.
And we and we did it.
And, you know, this is a victory for the people in an unprecedented election in both CD1 and in the Senate race.
You know, Carolyn and I, you know, we fought the same establishment folks and we saw what they can do and how they do it.
And people just didn't like it here in New Hampshire.
Hey, we had a narrow victory, but a win is a win.
steve bannon ▲ ● ▼
Um, there is no substitute for victory.
If I remember correctly from a great army general, um, I want to, you know, the, the, the nation and really the world depends upon and respects quite frankly, reveres the common sense of the New Hampshire voter.
That's why historically it has been the first primary, uh, in the presidential, uh, cycle people know.
And what they respect is that you can't.
Just go buy airwaves.
You just can't go buy gross tonnage on TV and go out for low-information voters to smear people.
What people admire and respect about granted staters throughout the country, in the world, is that they will weigh and measure people.
They got that flinty kind of New England.
They will weigh and measure.
You can't BS them.
You can't spin them.
They will weigh and measure somebody when they come up and shake their hand, when they come into these small rooms.
And that's when we talk about the precinct strategy and everything from the grassroots.
That's what you've done for two years.
It's not the last 30 days coming in.
And people should understand, and this is why this is a seminal moment in modern American politics.
I think it's $10 million in New Hampshire, which is not a huge TV market.
I understand they're buying a lot of Boston TV, but not a huge TV market.
$10 million in the last, you know, eight weeks, six weeks against two candidates, Caroline Leavitt in New Hampshire, one in yourself.
Uh, and it didn't work.
It didn't work.
And it didn't work because if a person of character like Caroline Lovett and like General Bolduc will go out and do the work and people will rally around them to assist that because it can't just be one person.
Money can't beat that.
You can outvote the money, and quite frankly, you can outvote the corruption, and you can outvote the stealing.
That's the lesson for MAGA throughout the country, Republicans, and quite frankly, Independents and Democrats that want a different way.
General Bullock, when you went around We said yesterday, it was so ironic that yesterday they had the inflation report, which was brutal.
They had the collapse of the American economy.
Biden has this bizarro celebratory event with, you know, James Taylor singing a song about suicide on the White House lawn.
And you have this victory.
And going forward, Because they're saying you got no shot, that this is what the Democrats want.
You got no shot against Maggie Hassan.
What is your message to the folks in New Hampshire, particularly not just the Republicans, not just MAGA, but independents and working class Democrats?
What's the message of an American patriot, General Don Bolduc?
unidentified
Well, you know, here's the deal.
Maggie Hassan just came out today and said that she will dictate the terms for the debates and she will not participate in a series of debates You're in New Hampshire because she says so.
Well, that's just the way she rolls, right?
She's going to dictate to granted staters during an election what she's going to do and what she's not going to do.
And that's what she's done for five and a half years.
And look at the economy.
Look at the spending.
Look at the safety and security of Americans.
She has crippled this country with the support to Joe Biden.
Everybody last night told me what a slap in the face the celebratory ceremony that Biden and Hassan had patting themselves on the back after spending 5.1 trillion dollars from March to August in spending bills that are only going to hurt Americans and granite staters even more.
This is the message.
I don't care if you're a Republican, independent Democrat, free stater, libertarian, your livelihood and the future of your children and grandchildren are at stake.
And she is the problem.
Fundamentally, you may have issues with me on social issues, but on national security, and on economy, and on fiscal responsibility, and a middle-class American in Granite State, like myself, who is suffering and knows it's going to get worse.
I want to fix that for you.
And that's what you should be voting for.
You should be voting for that.
Someone who is not tied to the establishment, has not been bought and paid for, Is not going to dictate terms to you, but rather listen and learn from you and support you in Washington, D.C.
as your ambassador, not as someone who's going to preside over you, but someone who's going to be in the fray with you, shoulder to shoulder, working with you to make life better for us and not think that I'm better because I have some vaunted position in Washington, D.C.
That Senate seat is yours.
That office down there is yours.
It's not mine.
I have the honor to occupy it on your behalf, and that's the way I'm going to serve.
steve bannon ▲ ● ▼
Remember, people in the grand state should understand, General Bolduc started as a private and then became a sergeant and then became one of the most revered generals in the United States military.
The reason Maggie Hassan, you're seeing this in Arizona with Katie Hobbs, the reason that they don't want to stand on a debate stage With whether it's Carrie Lake or Don Bolduc or you pick it is they don't want to sit there with an open mic on live TV and have to defend the Biden regime.
They don't want to do it.
They will make every excuse in the book.
They will say, I don't like the terms.
You know, he's an election.
They're going to make every excuse in the world.
But General Bolduc, under no circumstances, they want to have to basically do an interview Yes, absolutely.
And let's not forget what she did during COVID.
sitting there just going through chapter and verse of how all of this, everything that's happened financially, economically, geopolitically, national security, invasion of the Southern border in the last 18 months is right, they are the problem.
They can't deny it, they can't spin it.
That's why it's not gonna happen, General Bolduc, your thoughts.
unidentified
Yes, absolutely.
And let's not forget what she did during COVID.
She hid, she locked us down, She closed our churches.
She closed our schools.
She masked our children and hurt their mental health and educational development by 22 weeks they're behind here in the state of New Hampshire.
She has crippled us in every area.
She's made vaccinations mandatory and we know how that has hurt people.
She has trampled our rights.
She calls people's people names and she tries to suppress people By using her power to hurt people, not to help people.
That, coupled with what she's done supporting Joe Biden's policies, she does not deserve to be re-elected.
She hasn't earned it.
And oh, by the way, I look forward to standing on debate stages all by myself and hammering away at what she has not done for granted staters because she won't show up.
I will debate her.
In every state, in every town and city, on every street corner, at every event, I will show up where she is at and I will take her on.
She is not going to get away that easy.
steve bannon ▲ ● ▼
General Bolduc, how do people find out about your campaign and more about you and any of your social media, sir?
unidentified
Yeah, so we're going into this phase right now.
You can get a hold of the next phase, which is the general election phase, www.donbaldick.com on our website.
Supporters of Don Baldick, you can go to our Twitter page at Gen Don Baldick.
Nothing is going to change.
Numbers stay the same.
Access to me stays the same.
And we're just going to seamlessly transition from the primary to the general election.
We've set it up perfectly.
Uh, to do so.
And I want to tell you that every single Republican candidate that I ran against has reached out to me and congratulated me, conceded and said, Hey, we got your back.
We'll come together.
So any of this idea that I'm the disruptor and I'm the bad guy is absolutely false.
I am the guy that is going to work for granted staters and, and bring them Back into self-governance and a government of the people, by the people, and for the people, which has been taken away from them.
steve bannon ▲ ● ▼
General Bullock, honored to have you on here.
Great victory.
We know the work has only started.
Everybody, the precinct strategy, everybody congratulates you and they'll have your back.
General Don Bullock.
And remember what General Bullock said, everybody's coming together.
Why?
What's the mantra?
Hang on, wait for it.
There is no substitute for victory.
We're going to have John Fredericks, who's been up, I think, for a day covering this and not been asleep.
John Fredericks, Steve Cortez, Joe Wright from My Patriot Supply, Mike Lindell.
Economics, politics, the FBI rolling folks up.
Where are you going to get it?
Only one place on this turning earth, the war room.
unidentified
We rejoice when there's no more.
Let's take down the CCP.
mika brzezinski ▲ ● ▼
History will judge Republicans who stay silent about the big lie.
And he writes this, quote, whether you're a politician supporting the big lie, a billionaire backer of it, or a broadcaster who's pushing it, it is not too late for you to get off the road you're on.
Yet if you continue to promote or enable this lie, you are undermining our democracy.
The crisis you have helped create is worsening.
The bare part of the responsibility for what comes next.
When the history of this trying time is written, future generations of Americans will judge your actions and your silences harshly.
Generations to come will sit in judgment about what you have wrought.
And if the democratic experiment called America continues to unravel because of what you did or failed to do, you will live in infamy.
joe scarborough ▲ ● ▼
You know, Jonathan O'Meara, we we look at the challenges to Western democracy, to to liberal democracy, to the very, very ...intellectual foundations that has made America America and it is under attack.
It's under attack not just by Vladimir Putin and Victor Orban who brags about being an illiberal Democrat, but also under attack by many people on the right who will now openly say...
They hate Western democracy.
They hate Western freedoms.
They hate liberal democracy.
And, you know, it's one thing to be someone out saying that so aggressively, following Donald Trump and sort of more authoritarian.
steve bannon ▲ ● ▼
OK, OK, OK.
The spin, the lies, the misrepresentation.
The buried lead there is Brexit.
The crisis is worsening, as we said it was going to.
Because as more and more Americans get access to the information, they're sitting there going, whoa, whoa, whoa, whoa, whoa, whoa.
Joe Biden is illegitimate, right?
Sorry you don't like that.
People put $10.5 million on Caroline Leavitt and Don Bolduc, okay?
And their principal thing is not that.
Their principal thing is, hey, you got to get this country right.
And to get this country right, you got to throw out the bums that are supporting this illegitimate regime, starting with the congressman in New Hampshire, one, and the senator, the U.S.
senator.
They're not going to hide from it.
Remember, there's a commonality here, ladies and gentlemen.
If they thought they had the arguments, It's like, I tell you, Rachel Maddow would rub your nose in it every day if they thought they had the math, instead of just dismissing it.
Morning Joe would every day put up charts.
They would do it.
They would go through it.
Katie Hobbs would be up on a stage with Carrie Lake every day.
Maggie Hassan would be in every town and village, because that's how you have to win in New Hampshire.
The New Hampshire people are smart enough.
They don't just buy the TV advertising.
They're smart.
They're Granite Staters.
It's live free or die.
You can't fool those people.
You've got to look them in the eye and tell them what you're going to say.
If they had the facts, They would be rubbing your nose in it every day.
They'd be up there debating.
They don't want to do it because they can't defend any of it.
None of it.
They can't defend the invasion on the southern border.
They can't defend what they did with the vaccines and the COVID disaster.
They can't defend what they've done to the economy.
And I want to say again, every college graduate that's skipping around and you're going to vote Democrat, go ahead and vote Democrat.
Do it.
I dare you.
You know why?
You're a Russian serf right now and you're about to be crushed to be nothing more than a peasant.
Okay?
In bondage.
In bondage to the Federal Reserve, in bondage to trillions, not trillions, tens of trillions of dollars of debt that you had nothing to do about.
You're a sucker and you're being played for a sucker.
So take your college education and look at the facts.
I'm going to bring in John Fredericks.
How long have you been?
You were the Oracle of the Deplorables.
You're like the original gangster beast right now.
When's the last time you slept, brother?
unidentified
I get up at 3.45 a.m.
on Tuesday morning.
I haven't been to bed since.
This was one of the greatest nights we've ever had, Steve.
We've got the greatest movement in the history of this republic.
And last night in New Hampshire, we had the New Hampshire maggot trifecta.
Don Voltick winning.
Caroline Leavitt winning.
Bobby Burns, don't forget him.
Him winning New Hampshire, too.
Look, Steve, this was the greatest, second greatest night in the history of the MAGA America First Movement.
Only second to Trump's victory, which was the start of this.
Why this was so important is because this is now about our movement taking over the Republican Party from the grassroots, bottom-up, precinct captains, county chairmen, This is why last night, you can't have a movement and not have New Hampshire live free or die.
That's why we came up here.
That's why we spent the time here.
when we're gonna throw the apparatus and all this nonsense is gonna go away.
This is why last night, you can't have a movement and not have New Hampshire live free or die.
That's why we came up here.
That's why we spent the time here.
You have to win New Hampshire.
Steve, we did that last night.
That's pointed out.
They spent $10 million in the final eight days.
Money they could have spent on other districts they could have won.
They wanted to stop us.
They couldn't do it.
We got outspent.
Three candidates got outspent in entirely here, 25 to 1.
Look, they have the power, and they have the money.
But Steve, we have the people, and we have the movement, and we have the message.
And that's why we won last night.
Let me say this, Dave, about last night.
They're going to remember forever the night they kicked their ass in New Hampshire.
You get your calendar out and you circle September 13th, 2022, because this was the night that we showed them from the bottom up From the people that believe that we are going to take this party over, and we are going to one day run the Republican Party, we're going to run their apparatus, we're going to run their financing, and we're going to win this country back with massive majorities.
Because that's what we're going to do.
And I'll tell you another thing.
I want to be accounted for spending $10 million in eight days to defeat 25-year-old softball player Caroline Levitt to defeat Don Baldick, 10 terms in Afghanistan, free for your generation, Bobby Byrne, great, where's the accounting for this?
Why couldn't we have taken that money, put it into Virginia's then?
steve bannon ▲ ● ▼
Humph, pal!
Hang on, hang on, hang on.
You're absolutely right.
$10 million we could have used, by the way, that would have won New Hampshire in eight weeks.
Boldix, a private that became a sergeant, enlisted as a private at a New Hampshire, became a sergeant, and then became one of the most revered combat leaders in modern military, American military history.
Caroline Leavitt is a kid from the district.
Okay has went to the public schools in the district is an athlete in the district Went and got in politics with Stefanik and at the White House And they came back to her district and walked her district and this is what they were trying to destroy and it wasn't policy Remember this it had nothing to do with policy because they can't debate us on the ideas Our ideas are dominant what it was was the politics of personal destruction and the folks, New Hampshire And this is the lesson for everybody in this country
If you get the precinct strategy, if you get out there and get engaged, and you don't need to write a check.
Remember, there wasn't one small donor that supported the $10 million.
That all came from the fat cats.
That all came from the guys that they don't want to, you know, that has the carried interest, that they don't want to change.
This is all the hedge funds.
This is all the big fat cat donors in the Republican Party who don't know anything.
I know these people.
They're clueless.
They're smart in business.
They're clueless in anything else.
$10 million to destroy people, and it failed.
And it not just failed, it failed epically.
And Caroline Leavitt and Bolduc pulled it out at the end of the day.
Now it's time for everybody to put that aside and come together.
But the lesson of 13 September in the year of our Lord 2022 in the live free or die state is going to resonate everywhere.
It can be done.
And for this audience, you don't need to write a check.
That would be helpful in this case, but you don't need to do it.
What you need to do is become a force multiplier.
You need to become engaged.
This is why the left-wing media is going so crazy.
This is why they want to shut this show down.
This is why they want to shut me down, because this is a true populist uprising.
John Frederick, you've seen it from your show from day one.
Last night, tell me about the reaction of the people.
Tell me the reaction of MAGA last night as the results came in, sir.
unidentified
Absolute delirium.
I don't think that anybody that was here.
We have 700 people here at the Baltic headquarters where I did my election night show.
I don't think anybody believed that we could actually win this race.
They spent all this money.
Caroline Leavitt, same thing.
I mean, a lot of people just were doubting.
Because we've had losses here.
And because, you know, we've got the FBI running around raiding people.
Nobody does anything.
Nobody did anything after the Mar-a-Lago raid.
Everybody's seeing this now.
There's intimidation.
They're saying, OK, they dumped another $10 million.
You know, what's going to happen now?
But we got out there.
Our people got out there.
We went to work.
We knocked on doors.
We made phone calls.
We got people to the polls.
And we have a movement.
And that couldn't be stopped.
And we stunned them.
McConnell committed $25 million in advertising with his back for the Republican candidate in New Hampshire this weekend, right?
You know why he did that?
They were upset.
He had a shadow of a doubt.
Chuck Morris was going to win.
He was their guy.
So they went and they bought the advertising.
They were that tough.
So we came in last night with Don Baldick with no money and a movement Here's the point.
steve bannon ▲ ● ▼
When people, when you get people and you explain to them what's going on, you give them access to information, they're going to vote for our candidates.
Stupid television ads and the politics of personal destruction don't work if you get the word out.
John, we got to jump and you got to get some sleep.
How do people follow you, brother?
Your show, social media, all of it, because you are the original gangster.
unidentified
Look, Steve, this is a movement.
You're the leader.
You're the general.
I'm the lieutenant on the northern front.
That's all we're doing here, right?
to 10, Monday to Friday, I serve up Steve Bannon and War Room at 10 o'clock.
Look, Steve, this is a movement.
You're the leader.
You're the general.
I'm the lieutenant on the northern front.
That's all we're doing here, right?
You're leading this movement.
steve bannon ▲ ● ▼
I'm just a grundoon.
unidentified
No, man.
You're the leader.
steve bannon ▲ ● ▼
I got the easiest job.
I got the easiest job.
I just prevented platform view.
Frederick, you're a hero.
By the way, I'm going to get you one of my per cal sheets at mypillow.com, promo code war room.
Go there right now.
Get one.
I'm going to give John Frederick a per cal sheet, and we're going to see.
He's going to sleep the sleep of the just.
You know why?
He deserves it.
John Frederick's buddy.
Great job.
Incredible.
Great call.
unidentified
Thanks, Steve.
steve bannon ▲ ● ▼
Okay, short break.
We got Cortez with some math.
We got Joe Reek about how you can help prepare.
The catastrophe is rolling in on you.
Let's think this through.
Don't let it steamroll you.
All next.
Economics, finance, capital markets next in the War Room.
unidentified
We will fight till they're all gone.
We rejoice when there's no more.
Let's take down the CCP!
War Room.
Pandemic.
With Stephen K. Banham.
The epidemic is a demon and we cannot let this demon hide.
War Room.
Pandemic.
steve bannon ▲ ● ▼
Here's your host, Stephen K. Banham.
Okay, we're going to have, welcome back, we're going to have Caroline Leavitt is going to kick off the evening show today.
She's been up all night and all right now it's all about focus on 8 November.
The entire, the primaries ended last night.
It's come together.
It is, there's no substitute for victory.
I don't want to hear any whining.
I don't want to hear any, you know, tossing the toys out of the pram.
We can all do that on the evening of November 8th after we crush these people at the polls.
Our purpose, our task and purpose is to destroy the Democratic Party as a national political institution at the ballot box.
And I want it everywhere from school boards, to county commissions, to state legislatures, to secretaries of state, judges, prosecutors, all of it.
Okay?
All of it.
All the way up to the House and the Senate to take control of all of it.
People say, you want to stop?
How do you stop?
Here's how you stop.
You win.
You win, just like in 16, right?
The world's not perfect, right?
Man has fallen.
We got that part.
So we got to work through it.
Your agency.
Divine Providence hand is working, but it works through human agency.
That would be you.
It's not Tucker Carlson.
It's not Steve Bannon.
It's not Sean Hannity.
It's not Donald Trump.
It's you.
That's what they realize they can't stop.
And that's what they're trying to stop.
I want to bring in, talk about the debacle.
And here's what you have to stop.
The economic and financial destruction of the greatest economy in world history.
The people that bequeath this to us would be shaking their heads about the madness that's going on.
Steve Cortez, I want to talk about capital markets' reaction throughout the world of what's going on, and also to really stop the lies and spin of the mainstream media that do not want to really talk about the dumpster fire of inflation, the real inflation that's going on.
Mr. Cortez.
steve cortes ▲ ● ▼
We have a toxic combination right now in this country of sky-high inflation with a recession, both of which are completely caused, created crises of Joe Biden and his allies in Washington, D.C.
And it was really a shameful scene yesterday, Steve.
At the White House, on the lawn of the White House, they literally held a pep rally regarding the so-called Inflation Reduction Act at the exact same time that the stock market was collapsing down 1,200 points on the Dow.
Why?
Because of the horrific inflation news that we got just yesterday.
These are shameless people.
It made me think once again, so many of the antics of the Biden administration, It was like a scene out of the Hunger Games, and Washington, D.C.
far too often acts like the capital from the Hunger Games and completely disregards the reality, the lived experience of those of us in the districts who are dealing with absolute runaway inflation.
And Steve, as bad as the headline number was, and it was terrible, The devil was indeed in the details.
And let's get to some of these details, particularly the stickier parts of inflation.
What I mean by that are prices that go up and are unlikely to ever go back down.
Things like rents, for example.
If you're renewing your lease and your rent is going up, they rarely, if ever, go back down.
So commodities can be very volatile and can go up and down wildly.
But services, not so.
And so let's show this chart.
I want to show the services components, and I think this is critical.
So these are inflation for key measures of services in the economy.
Again, far stickier than the commodity-based inflation, which is also terrible, by the way.
But look at that.
Health insurance.
The Democrats, who are allegedly the party that provides health care affordably to regular working-class Americans, health insurance up 24%.
On an annualized basis.
That's insanity!
Regular working class people cannot afford that kind of a healthcare cost.
Car insurance up almost 9%.
Pet services up almost 10%.
Steve, I was just the other day talking to some working class folks.
It's a family business, cleaning business.
Women who work really, really hard.
They love pets.
They've got a bunch of dogs.
And they were telling me, we can't afford our dogs anymore.
We can't afford the food and we can't afford the veterinary care.
A lot of Americans are facing that tough issue.
And then legal services.
Up 9%.
Again, if your attorney has started charging you more, it's unlikely, if not impossible, for him to then lower his rates and suddenly charge you less.
So that's the reality that Americans are facing right now, while the Biden White House had a ludicrous pep rally on the White House lawn.
So I want to get into the global side of this, too, because you mentioned the capital markets.
If we can pull up chart number one, please.
This is a global Fund survey that is done by Bank of America and they survey fund managers on their expectations for profits for corporate profits going forward.
That chart goes all the way back to the 90s and we just hit in the history of this of this survey, which is 25 years old, we just hit a new low, lower than the lockdowns of 2020, lower than the levels of the 2008-2009 credit crisis.
We are now, because of the policies of Joe Biden and the rest of the Davos set, we're at an all-time low in profit expectations from institutional money managers, smart money, people who manage trillions of dollars globally.
Now, let's bring this down to Main Street.
If we go to chart number Oh, hang on.
steve bannon ▲ ● ▼
Whoa, whoa, whoa.
Hang on one second.
I want to go back to that because this is looking over the other side of the hill.
And these are not, you know, these are not like six months lows or nine month lows.
When we put these numbers up, you're talking 40, 50, 60 years.
unidentified
Okay.
steve bannon ▲ ● ▼
Put that chart back up and explain to people what the importance of that is.
steve cortes ▲ ● ▼
Okay, so this is earnings expectations from fund managers, from institutional money managers worldwide from Bank of America.
And they've been doing this survey for 25 years.
As that chart shows, that goes all the way back to the 90s.
It has never been lower.
We are lower now in profit expectations than we were in the 2020 lockdowns.
We're lower than we were in the mortgage and housing crisis.
of 2008-2009.
These are the consequences of Biden's miserable policies.
Literally the lowest profit expectations ever in the 25-year history of this survey.
Again, from smart money, from the big institutional investors around the world.
But I also want to bring this to Main Street.
So if we go to chart number two, well, let's look at what's happening with profits, what's happening with earnings for small business in this country.
What are Main Street Enterprises, the mom-and-pop operations that are the lifeblood of the American economy, and particularly as it relates to employment, right?
The drivers of employment, because small business, by definition, Steve, is not outsourcing, it's not offshoring.
This is the real dynamism, the beating heart of the American economy, small business.
This came out just yesterday as well, and this was terrible news from the NFIB, the National Federation of Independent Business, the largest organization that represents small business and Main Street firms.
And these are small business earnings as reported by the owners themselves.
And as you can see on that chart, unfortunately, we are right now pressing the 2020 lockdown lows.
So, earnings for small business right now are as bad as they were, Steve, in the spring of 2020 when almost every one of these operations was forced to close.
That's how bad this Biden economy is because of a combination of a Biden recession with absolutely soaring prices.
And soaring prices are bad for everyone, Steve.
But it's particularly harmful for small business because they simply don't have the scale to deal with inflation the way big businesses do.
So Main Street is suffering tremendously.
So I wanted to give those two charts back-to-back because let's take the global view, the top-down macro view, and then let's get down to the granular view.
What is happening on the street level?
What are your neighbors who own small businesses, what are they dealing with right now?
That's the on-the-ground reality.
Now another harsh reality, Steve, if we can go to chart three.
Let's look at what this inflation is doing.
Because interest rates are soaring, that chart shows U.S.
interest payments, and that goes back to 2018.
So roughly the middle of that chart is when Joe Biden took over.
It happens to be the lowest part of the chart, meaning the United States was not spending very much on interest payments because interest rates were incredibly low.
And because the burgeoning Trump boom 2.0 coming out of the spring 2020 lockdowns, we had fast growth without inflation.
And so the US was paying at that point about $340 billion on an annualized basis in Interest payments.
We are now almost at $500 billion annualized in interest payments.
So it has gone up almost 50% the interest cost to the United States taxpayer in just a year and a half.
Steve, that trend, that upward trend in interest payments is totally unsustainable because we're doing a gargantuan amount of borrowing and the capital markets of the world are saying, if we're going to lend you that much money, we need more interest rates because you're a risky borrower in the United States.
steve bannon ▲ ● ▼
Let me tell you something.
Look at the United States economy as a business.
We're so leveraged.
And the earnings, let's go back to the earnings.
It shows you, because that's a proxy for the ability to generate cash for the economy, for people to pay taxes or anything like that.
You're not going to have, you don't have an entity You basically have a bankrupt entity.
They just haven't said it's bankrupt because you still print dollars.
We're going to talk about this in the second hour.
We're going to rust vote up here.
But, you know, we talked about it yesterday in the show.
Essentially, any other nation in the world, you would be talking about a sovereign debt crisis and a default.
This is the insanity.
I want everybody in the audience to understand something, particularly if we start talking about economics and your eyes cross.
Your life is about to change radically and not for the better because of reckless policies by those in charge who know better and have enriched themselves in this system.
They are going to impoverish you and we're one or two moves away from impoverishing a generation or two of Americans.
That has never happened in this nation.
This has never happened.
People have always thought downrange about, what do we got to do?
What do we got to do?
We're risk takers, but to mitigate risk, to build value, to build wealth.
This is the exact opposite.
This is the nuclear weapon that they have weaponized now, capital markets and economy.
And all they're going to talk about is spending, spending, spending, spending.
It can't go forward.
Talk about the 10-year treasury.
I put up on Getter today.
And I want everybody in the audience to know, when I say the 10-year treasury covers your life, Because that is the railhead where all of the interest rates go.
It's exploding, ladies and gentlemen.
We're going to get Joe Reich in here in a second for my Patriot Supply.
If you think the cost, because of energy and interest rates, if you think the costs are high today, you ain't seen nothing yet about what's about to come.
Steve Cortes.
steve cortes ▲ ● ▼
Yeah, and Steve, to that point, too, about the gravity of this situation, because you're not going to hear this truth Thank goodness for your show, Steve, to make sure that people are educated and armed with information.
When you're talking about, as we just showed, health insurance at a 24% inflation clip, when you combine that and the massive spikes in all services, when you combine that with the half-two items that we showed yesterday, of gasoline, groceries and utilities also rising as a basket at 24%.
Those kinds of price increases are totally unsustainable for working class people.
And it is not just a recessionary sign.
It can be depression inducing.
That is the risk right now.
Forget about recession.
That's done.
We're in recession.
It's a matter of whether or not it tips all the way into depression.
And that is a real risk.
And to your point, it's a real risk because interest rates are soaring at the time the economy is crashing.
It's not supposed to work that way.
Those are not normal movements.
Normally, a slowing economy, an economy that is in recession, will bring interest rates down.
We're seeing the opposite happen right now.
If we can show chart number four, I want to show the bond market here.
Because again, I know folks prefer probably to talk about stocks.
It's more interesting.
It's more sexy.
But stocks are for show, bonds are for go.
Bonds are more important, more relevant directly for your life, actually, than the stock market is.
This is a chart of the TLT.
That is an ETF, an exchange-traded fund, full of longer-term U.S.
Treasuries.
So these are long bonds.
Mostly the 30-year Treasury bond.
So this is the long end of the Treasury curve.
And this is a way, in a stock ticker, for you to get access to the bond market.
Now typically, the United States Treasury is literally the definition of a risk-free asset.
So normally, it's not risky, it's not volatile.
These are not supposed to move wildly at all, United States Treasuries.
But as you can see there, and that chart shows, when Joe Biden took over, the TLT was worth $151.
It has gotten destroyed.
Destroyed meaning in price down, interest rates up.
It got all the way down yesterday to $106 on the TLT.
Steve, that is down 30% since Biden took office on bonds, on principal.
It's hard for me to exaggerate how consequential this is to asset managers around the world when they are losing 30% of their principal on U.S.
treasuries that are supposed to be safe.
It's supposed to be something grandma buys and puts away and grandma is getting rinsed.
steve bannon ▲ ● ▼
How do people get to you, particularly on Getter?
You've got great... Yeah, find me there.
Ask Steve on Getter, please.
Cortez, amazing.
We're going to go back through this tomorrow in the details because there's no place to hide.
There's no place to hide because of the Biden regime.
You cannot hide.
Short break.
Joe Reek from MyPatriotSupply.
in a moment in the war room.
unidentified
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steve bannon ▲ ● ▼
Okay, go to Getter.
We've got a new show launch on Getter for the Italian audience.
We're also, you translated it into English about the run-up to this massive election in Italy.
We're going to try to get Libby Emmons on from Post Millennials this afternoon.
Trudeau has already said that it's misinformation and anger that's driving the populist revolt up in Canada.
That's what it always is, right?
Misinformation.
It's always misinformation, right?
We're a font of misinformation in the show.
All we do is put out facts.
And as Steve Cortez says, and I've asked Steve to stay for this through the break here, price is truth.
Katie Pavlik at Town Hall did a great job.
I've got it up on Getter and we've broken it down and I want to be able to comment on it, but I want to get Joe Rican here for my Patreon supply.
Yesterday at the White House and everywhere, it's all spin and lies.
When you break down, just like in the crosstabs, in these polls, you can't hide from the reality.
When you look at what I call the undercarriage of the inflationary state, it's mind-boggling.
I mean, Cortez puts it in a basket and says, hey, here's where you've got to live.
It's the Cortez basket.
It's up 24%.
But you look at these individuals, and then you look at regions, Phoenix up 13%.
It is insane.
And here's the thing, as Cortez pokes out, a lot of this is sticky.
I want to bring in Joe Reek.
Joe, I asked you specifically to come on today because it's not just food, but food is so important.
It's exploding.
And with the energy costs, it ain't going away.
It's only going to get worse.
And people have to wake up to this reality.
And I want to make sure our audience has access, just like with the Birch Gold guys.
I want you to have access to the best people around to talk it through.
Joe Reek.
joe rieck ▲ ● ▼
You know, I love following Steve Cortez.
I mean, I don't think your audience really understands the gravity of what he talks about.
And it's great.
I wish people would comprehend more kind of the direction that we're heading in right now.
Because yesterday, the Consumer Price Index for August was released, and it showed that inflation actually increased last month, despite gas prices going down.
So food prices for the cost of practically everything is going up and the recession is far from slowing.
When you take a look at just specifically the price index for food, it rose to 11.4% which is the highest since May of 1979.
So prepare for runaway inflation.
You know, we also got a report the other day too, Steve, that U.S.
farmers are reporting that their crop yields from this year's harvest are much lower than last year's.
Now, remember, we are still living off of last year's harvest.
So, corn is critical because it's used to feed the cattle and it powers much of our nation's food supply.
So, lower crop yields are going to have a dramatic increase on the cost of food productions in the months and this next year to come.
So, what we do here at My Patriot Supply, because we see the writing on the wall, we purchase hundreds, and I'm talking hundreds of tons of raw ingredients months in advance.
And right now, some of the trickier items for us to be able to get a hold of include tomatoes, prepped peppers, corn, mustard.
And if we do secure these items, Steve, it's at a much higher rate.
So staple items like wheat, those things continue to be in short supply.
So if you have the opportunity to secure more of those items for your food pantry in your homes or your emergency food supplies, get it now.
Okay?
Because it's coming.
So what we're doing here at MyPatriotSupply to help out our customers today, since we purchased in bulk last spring, that helps us keep our costs lower for today.
While prices seem to be rising everywhere else, Our bulk purchases keep our prices lower for today.
In fact, they're the lowest prices we've had since 2019.
So here's the thing, Steve.
Today and tomorrow, customers can save up to $250 on our best-selling, our most popular three-month emergency food kit today.
We have them in stock.
We're shipping them lightning fast.
In fact, if you order before 3 p.m., it gets shipped to you the same day.
Plus, we also have free shipping.
So we're doing our best to make sure that customers are able to afford emergency food because we know what is coming down the pipeline.
unidentified
We know that times are going to get... How do they get there?
steve bannon ▲ ● ▼
What's the easiest way for people to talk to your consultants?
joe rieck ▲ ● ▼
Go to mypatriotsupply.com or you can call us on our toll-free number, 866-229-0927.
Talk with a preparedness specialist.
Give us a call today.
We will find a plan that fits your needs of your family to give you the peace of mind that if anything were to happen, you're going to be taken care of.
steve bannon ▲ ● ▼
You got a call and I'm going to give the number again, but don't bury the lead.
What was the number that is the highest since May of 1979, which was brought Reagan to power?
Give me that number again.
joe rieck ▲ ● ▼
That's the food index.
So the food index came out yesterday at 11.4% over last year.
So that is the highest increase since May of 1979.
steve bannon ▲ ● ▼
I didn't hear that on the lawn of the White House.
You know why?
Because they're lying to you.
This is looking over the other side of the hill.
This is just going to blow through, and you look at the gas prices.
One more time, give the 800 number in the website, Joe.
joe rieck ▲ ● ▼
The website is mypatriotsupply.com, and the telephone number is toll-free 866-229.
0-9-2-7.
In fact, as soon as I jump off with here, I'll be answering the phone calls, helping customers get prepared.
So give us a call.
We'll walk you through the different items that we have, the different packages, and really give you the peace of mind that if anything were going to be, anything going to be happening, you have the ability to be able to provide great tasting food, the calories to you and your family, so you guys can continue to worry about Bigger and other things coming down the pipeline.
steve bannon ▲ ● ▼
Joe, Arik, thank you very much.
Appreciate you guys and what you do for our audience.
joe rieck ▲ ● ▼
Thanks, Steve.
steve bannon ▲ ● ▼
Cortez, it boggles my mind when you're actually talking about the preparedness business and you're doing that to save on cost because that's the reality.
This is what they've done to the country.
This is what they've done to the country.
You're giving a big talk tomorrow, but I got to ask you about the food index.
I didn't hear Biden, I didn't hear CNBC talking about the food index, the highest since May of 79.
Did we miss that yesterday, Cortez?
steve cortes ▲ ● ▼
Funny that, that they left out that aspect.
That we just continue to hit multi-generation, multi-decade lows regarding the economy and the prosperity of the American people.
But I'm going to be privileged to speak at the Family Research Council, which Tony Perkins runs, one of the finest pro-family, pro-religious liberty organizations in America.
They have a summit that is starting today.
You can go to PrayVoteStand.org.
This is the PrayVoteStand You are the man.
One more time, give your getter, brother.
to the summit on Friday about outreach to Hispanics and Hispanics rallying to the America First vision of cultural conservatism.
steve bannon ▲ ● ▼
You are the man.
One more time, give your getter, brother.
I want everybody up on your site.
steve cortes ▲ ● ▼
Find me on the getter.
I'm at Steve.
Very simple, because ballers get Steve, right?
They get the single name.
Right, Steve?
steve bannon ▲ ● ▼
Brother Cortez, we love you.
Russ Vogt, Mike Lindell, Joe Allen, Patrick Wood, all next.
steve cortes ▲ ● ▼
Where?
steve bannon ▲ ● ▼
In some precinct strategy.
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