Sept. 19, 2022 - Bannon's War Room
48:55
Participants
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| Speaker | Time | Text |
|---|---|---|
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unidentified
|
Going into the big lie is now called supporting the team in the Trump party. | |
| Where better to make that pledge than in an interview with the poison populist and Trump pardonee, Steve Bannon. | ||
| My vision is to run with support from the president and his coalition of voters. | ||
| This is also about being one team, and I'm committed to being a voice and being a clear, sending a clear message that we are one team, and that means working with the president and working with all of our excellent Republican members of Congress. | ||
|
unidentified
|
No, you mean a shill, not a clear voice. | |
| And listen to that, the president. | ||
| Does she mean Biden? | ||
| He's the president. | ||
| No. | ||
| She means to advance the big lie. | ||
| Trump is the president because he's still in power because he really won. | ||
| And to be clear, even Stefanik knows this is just about the big lie. | ||
| Though there are some conservative groups who note that Stefanik is way more liberal than Cheney and voted with Trump far less frequently and less reliably, Stefanik has decided to play to her strengths with which in the House GOP race is to keep shamelessly pushing Donald Trump's big lie about the election. | ||
| That is her only advantage over Cheney. | ||
| Here she is on Steve Bannon's radio show, just moments after she promised to unite the Republican Party, promoting the deranged election audit going on in Arizona right now, where a clean election in a state led by a Republican governor is being attacked by election liars. | ||
| I fully support the audit in Arizona. | ||
| We want transparency and answers for the American people. | ||
|
unidentified
|
What are the Democrats so afraid of? | |
| The voters in Arizona and the state Senate in Arizona pursued this audit. | ||
| I fully support it. | ||
| Transparency is a good thing. | ||
| We need to fix these election security issues going into the future. | ||
| There are no election security issues in Arizona. | ||
| We could play this all day. | ||
| This is from 7 May of 2021. | ||
| And a couple of careers there went in different directions, including Chris Cuomo's. | ||
| But I want to bring in Elise Stefanik. | ||
| That was really when she announced the take on Liz Cheney. | ||
| And this is the first interview that she's done since she's just announced she's going to run for conference chair again. | ||
| But I want to get into some details when they were mocking you and ridiculing you, and you said you were going to bring this party together. | ||
| And Elise, I want to just start with some numbers from an NBC poll, a massive poll, NBC yesterday, of which NBC buried this in like the 30th paragraph of every story, because the headline was Biden, you know, Biden's approval up, abortion is going to close races. | ||
| But when you look at the crosstabs and you particularly look at these numbers, And I'm going to go back into detail, but I just want to give the audience and talk about where this was when you defeated Liz Cheney. | ||
| Border security. | ||
| GOP leads by 36 points. | ||
| Crime. | ||
| GOP. | ||
| This is among all voters. | ||
| Not Republican, this is all voters. | ||
| And some of these are historic spreads. | ||
| Border security, plus 36. | ||
| Crime, plus 23. | ||
| Immigration, plus 19 points. | ||
| Economy, we have a 19 point lead. | ||
| Cost of living and inflation, plus 14. | ||
| Unity, The ability to bring the country together. | ||
| Wait for it. | ||
| GOP plus six. | ||
| Elise Stefanik, tell me where was the conference and where was the Republican party when you were the one bold person that stood up and said, Liz Cheney can't do this anymore. | ||
| Tell me where the Republican conference, the house and the Republican party was then. | ||
| And what's the arc of where we are today, ma'am? | ||
| Well, thank you for the question, Steve. | ||
| When I ran for conference chair in May of last year, May of 2021, if you looked at the polling on all of those issues, Republicans were underwater. | ||
| Democrats had a generic lead on issues of border security, on issues of the economy, on issues of national security. | ||
| It's hard to think that because there's been such a crisis in this country with unified Democrat leadership in Washington. | ||
| But the reality is one of my commitments when I ran for House Republican conference chair was to unify the House Republican message on the issues that matter to the American people. | ||
| And the proof is in the polling. | ||
| Those numbers are stunning. | ||
| Those are the numbers and those are the top issues that voters are going to be making their decision as they go to the polls this November. | ||
| So we're going to continue prosecuting the case against the failed Joe Biden, Nancy Pelosi, and Chuck Schumer regime that the American people have been suffering under. | ||
| Certainly, I will never forget when I had my first press conference as the House Republican conference chair, which I do every week on behalf of House Republicans, we unveiled our country in crisis messaging. | ||
| Now you can't go a day without seeing that messaging. | ||
| So it has really resonated. | ||
| But what was most telling, Steve, was that I remember I was ridiculed by the New York Times, a reporter that said, well, isn't this confusing to voters? | ||
| You're talking about an inflation crisis, a border crisis, a crime crisis. | ||
| And what I said to the reporter was, thank you for highlighting how many crises Joe Biden has created. | ||
| And those polling numbers are significant heading into the next 50 days when we need to see a red wave in this country to save America. | ||
| And I think it's going to be a historic year with a historic Republican majority. | ||
| Okay, let me make sure everybody understands this. | ||
| When she took over from Cheney, and Cheney was just leading us down the Primrose Path, and we've seen every—she's revealed herself as never before in the last year, Liz Cheney. | ||
| I want to repeat this. | ||
| Border security, plus 36%. | ||
| Crime, up 23 points. | ||
| By the way, these for American voters. | ||
| Immigration, plus 19. | ||
| Economy, plus 19. | ||
| Inflation and the cost of living, plus 14. | ||
| Unifying the country, unity, plus 6. | ||
| You went back, and here's what you did. | ||
| You said, we're not talking about what reality is. | ||
| Reality is that, as Steve Cortez always says, these are created crises by the unified Democratic Party. | ||
| Ma'am, how did you conceive of that? | ||
| And what kind of fights did you even have to get that message out? | ||
| Because some people, I remember the time ago, you can't, this is too hot, right? | ||
| You're talking, this is too hot. | ||
| We have to have a more Cheney-like message. | ||
| Elise Stefanik. | ||
| Well, the best insight is from the voters. | ||
| I spend a lot of time in my district listening to voters, not only in upstate New York in the North country, but also across America. | ||
| And there was this sense and there continues to be this sense that this country is in crisis, that we are losing this country before our very eyes. | ||
| I would also highlight, Steve, that even more so now than over a year ago, people are struggling. | ||
| I was just in my district this past weekend doing a number of events. | ||
| People are struggling to balance their weekly and monthly budgets. | ||
| They're struggling when they go to the grocery store. | ||
| They're really wondering, as they see this horrific border crisis, why the Biden administration continues to prioritize illegal immigrants and criminals rather than hardworking American people. | ||
| So this message I knew was going to resonate because I always spend the time listening to voters. | ||
| You know, I had a conversation with a voter this weekend and he was talking about legislation that he was trying to push to protect the Second Amendment. | ||
| And of course, I'm one of the leaders on that issue. | ||
| And I told him your input. | ||
| That's the most important, most important commentary, more than the chattering class, way more than the editorial boards. | ||
| It's the people and the country in crisis messaging that resonates with the people, because that's what I was hearing from voters. | ||
| I noticed in the following you over the last couple of weeks that you're making a lot of appearances in gun shops and throughout your district. | ||
| What's going on up there? | ||
| Is there an issue in New York State, ma'am? | ||
| Absolutely. | ||
| There's a constitutional crisis in New York State, so we successfully overturned the unconstitutional concealed carry process in New York. | ||
| I was proud to sign that amicus brief, and the Supreme Court ruled New York's process unconstitutional. | ||
| response. Democrat Kathy Hope will do. She in the dead of night worked with Albany Democrats to pass an even more unconstitutional law, a gun ban essentially for much of my district, which includes the Adirondack Park. And let me tell you about the ramifications and consequences. | ||
| We have seen historical reenactments, the Battle of Plattsburgh, which is a big tourist, big economic, big history event in my district that I grew up going to these historic reenactments. | ||
| That was canceled. | ||
| We've seen gun shows that fire departments host as a fundraising effort. | ||
| Those have been canceled as well. | ||
| This weekend, I was at the gun show which supports the fire department. | ||
| And look, our local law enforcement said we support the Constitution. | ||
| We do not support Kathy Hochul's unconstitutional power grab. | ||
| So ultimately, this is going to have to be challenged in the courts. | ||
| Again, you will see House Republicans stand strong and lead when it comes to the amicus brief. | ||
| I am proud to have just earned an A-plus for my support for Second Amendment issues. | ||
| My opponent earned an F, and he deserves it. | ||
| All the Democrats in New York State, and frankly across the country, deserve an F when it comes to standing up for a Second Amendment because they support full-blown gun bans. | ||
| I want to go back to your support of the Second Amendment and these issues, and we're going to drill down about how we win on these issues that you highlighted and talked about, the created crisis of the Biden regime. | ||
| There's certain voices out there that say, including some of the war room posse, that Elise Stefanik, she's terrific, but she's not conservative enough. | ||
| What's your response to that, ma'am? | ||
| Well, I'm a proud conservative. | ||
| I think back to when I ran in 2014 and flipped the seat that we were not able to flip even in 2010. | ||
| And one of the criticisms and fears was that I was the more conservative candidate in the race and I wouldn't be able to win. | ||
| Well, it turns out that I was the more conservative candidate in the race and not only did we win, but we've won by a dozen since then. | ||
| I am a proud conservative with the highest rating when it comes to Second Amendment issues. | ||
| I am proudly pro-life and leading that message for House Republicans. | ||
| And my voters and people across the country know that I'm a conservative. | ||
| I have done everything I possibly can to stand up when it comes to protecting our Constitution. | ||
| And America got to see that particularly during Institution Hope One, but also when it comes to the election security issues, making sure that we have safe and secure elections and we rebuild the the American people's faith in our election integrity. | ||
| I support the rule of law. | ||
| I support law enforcement. | ||
| I've been endorsed by every single law enforcement union in New York State, and I am proud to be a conservative and I am proud to serve as the House Republican conference chair to unify all the House Republicans with a message that Works in New York, just like it works in Texas. | ||
| Let me ask you, when you look at the arc of what would have happened given what we know now about Liz Cheney and what the voters in Wyoming think of Liz Cheney versus your stewardship of the conference, is there any doubt in your mind that you've taken this and actually unified around a more conservative and MAGA message? | ||
| Is there any doubt about that in your mind? | ||
| Well, first of all, the proof is in the polling. | ||
| You started off this interview, Steve, by highlighting our double-digit significant lead on the issues that matter to the American people, whether it's border security, inflation, crime. | ||
| Those were issues that my predecessor just left on the table and wasn't talking about. | ||
| And those are the issues that really impact people's day-to-day lives. | ||
| It's what they care about. | ||
| They do not want to care about this anti-Trump obsession and derangement that my predecessor continues to have. | ||
| And look, voters are smart. | ||
| It was an overwhelming win in Wyoming for Harriet Hageman, who I was proud to support. | ||
| And she will be a tremendous representative for the people of Wyoming. | ||
| We are not entitled to these positions because of our last name. | ||
| And that's what I say to my colleagues. | ||
| That's what I say to the American people. | ||
| We earn these positions because the American people, they have an opportunity to vote for us. | ||
| So regardless of what your last name is, there was a sense of entitlement there and the voters showed that they wanted a new direction rightfully in Wyoming and the House Republican Conference. | ||
| We got a couple of minutes on this side and we've asked you to stay through the break for a minute, but how do you translate now that you've message and now that it's resonated with the American people and folks don't understand how hard that is to do. | ||
| And these numbers are historic. | ||
| 36% on border security to crime 23. | ||
| I mean, these are blowout numbers. | ||
| How do you translate that to a strategy that allows us have blowout numbers in the house of representatives, massive victories on November 8th, ma'am. | ||
| Don't take the bait from the mainstream media. | ||
| The mainstream media is working overtime to reset the trajectory of this election. | ||
| I was going back to the headlines, Steve, before 2010, before 2016 and before 2020. | ||
| Those were all big Republican years in terms of the voters' sentiment. | ||
| And in those races, the media was doing the same thing. | ||
| They were trying to suppress the red wave. | ||
| They are trying to reset the issues. | ||
| We need to keep prosecuting the case. | ||
| And importantly, we need to communicate effectively with the American. | ||
|
unidentified
|
There was just freezing. | |
| Okay, let's take a break. | ||
| We're going to reboot Elise Stefanik because she's getting to the pay dirt here. | ||
| Short commercial break. | ||
| We're going to reboot Elise Stefanik and bring her back. | ||
| But here's the bottom line. | ||
| We have right now, and this is reality, this is signal not noise, NBC has done a massive poll of people that are going to vote on November 8th. | ||
| And of the issues that are top of mind, of the American people. | ||
| These are blowout numbers. | ||
| What this means now, you have to translate that to execution. | ||
| You have to have campaigns that take that messaging and hammer it home every day. | ||
| You've heard of this before in the show. | ||
| This is Steve Cortez's theory of the case, the created crisis of the Biden regime. | ||
| Well, guess what? | ||
| The American people were listening. | ||
| And now it's time for us to execute. | ||
| We're going to come back with Elise Defan. | ||
| She just announced she's going to run for conference chair again. | ||
| We're going to drill down about how we're going to pick up 10, 20, 30, 40 seats. | ||
|
unidentified
|
All next in The War Room. | |
| War Room Pandemic with Stephen K. Bannon. | ||
| The epidemic is a demon and we cannot let this demon hide. | ||
| War Room Pandemic. | ||
| Here's your host Stephen K. Bannon. | ||
| Okay, welcome back. | ||
| Look, I want to set the stage here so people understand it's not easy to do big things. | ||
| Back in the spring of 2021, most people had run away. | ||
| Most people were curled up in the fetal position. | ||
| Oh, Biden's going to have five more states, 10 more Supreme Court justices. | ||
| It's over. | ||
| We were upside down on every issue. | ||
| Remember, Cortez, I myself, and I've always said, we're standing in the breach of the war room. | ||
| We're not going to back off. | ||
| We're not leaving D.C. | ||
| We don't care. | ||
| We're going to fight this every day. | ||
| And we know we can bring Biden's numbers down. | ||
| Where a young woman stepped up in May of that year to take on the Cheneys. | ||
| And Liz Cheney had us upside down everywhere and quite frankly wasn't interested in any of this. | ||
| And particularly this theory of the case that the Biden regime was creating these crises. | ||
| These are created crises. | ||
| That's the genius. | ||
| I want to repeat the numbers. | ||
| Border security up 36 percent. | ||
| Crime up 23 percent. | ||
| Immigration up 19 percent. | ||
| Economy up 19 percent. | ||
| Cost of living and inflation up 14 percent. | ||
| Unity of the country up 6 percent. | ||
| Those are the, by the way, the Democrats lead on abortion, and I think on education. | ||
| And the numbers aren't huge. | ||
| I think abortion is 22 percent. | ||
| These are historic numbers on the issues that matter in the lived experience of American voters. | ||
| And they told NBC News that they didn't tell Richard Barris or Trafalgar or Gateway Pundit or The War Room. | ||
| They told NBC that. | ||
| These are meaningful and real numbers. | ||
| And how we got here now, it's all about that. | ||
| That is a master plan in changing the tide of messaging. | ||
| You got to remember, they were all defeated. | ||
| It was only Stefanik that stood up to take on Cheney. | ||
| Only Stefanik stepped up to take on Cheney. | ||
| Think of where we would have been today if Liz Cheney was conference chair. | ||
| If Liz Cheney was conference chair, think of where we would have been. | ||
| I'll tell you one where we've been. | ||
| No way teed up to execute on those numbers and win a smashing victory in the House of Representatives, which is going to save this nation. | ||
| Elise Stefanik, I want to go back. | ||
| You brought up a brilliant point. | ||
| Go back to 10, the Tea Party sweep, those other years we had the big wins. | ||
| Mainstream media has the same playbook and they're running it again. | ||
| What do they do, ma'am? | ||
| They are trying to suppress Republican voters. | ||
| They are trying to bury polls like NBC that show that Republicans are in a strong position to win back the House. | ||
| They're trying to reset the narrative and prop up Democrat candidates across the country. | ||
| The American people are smart. | ||
| It's important that they see through this mainstream media narrative and they vote on the issues. | ||
| I have faith in the American people. | ||
| We only need five seats to win back the House Republican majority. | ||
| We are targeting 74 seats. | ||
| I think it's going to be a historic election. | ||
| If we win 35 of those 74 seats, Steve, it will be the biggest Republican majority since the Great Depression. | ||
| So this is an opportunity to have a historic win. | ||
| And don't let the media fool you. | ||
| By the way, NBC buried this poll. | ||
| It took some brilliant staffers. | ||
| There's nine stories out there in different media on the NBC poll, including The Hill and Politico. | ||
| Everybody's covered it because it's such a big poll. | ||
| They buried it. | ||
| And their lead story is in paragraph 35, because they understand that this is the buried lead. | ||
| This is the thing itself. | ||
| How do you translate this? | ||
| 74 in play, including D plus tens. | ||
| And you can see this math shows you, if you just execute, it's all in play. | ||
| And they know that. | ||
| That's where the pulling all stops, on the abortion, on everything else. | ||
| On anti-democracy and, you know, you people, this is a rise of fascism. | ||
| They're going to pull everything out to try to get off of crime, the border, immigration, the economy, inflation, the cost of living, and unifying the country, ma'am. | ||
| How do you then translate it? | ||
| How does the team translate it to actually individual campaigns for the victories? | ||
| Let's pick up 50, 60, 74 seats, ma'am. | ||
| How do you do it? | ||
| Well, we're working with every campaign across the country to make sure that they have the tactics and the message to reach every voter. | ||
| We need to make sure that all Trump voters turn out to vote this election cycle. | ||
| It's so important, not just for the House races, but for the Senate races as well. | ||
| Also, voters need to understand House Republicans have been working for this past year with the American people on our agenda. | ||
| We need to hold Joe Biden accountable. | ||
| That means immediate oversight. | ||
| Subpoenas will be flying out the door when House Republicans win the majority. | ||
| Think about the overreach of the FBI, the politicization and truly the weaponization of the FBI against the American people and against the Constitution. | ||
| There needs to be accountability. | ||
| But in all these crises, Steve, whether it's the border, whether it's inflation, when it comes to inflation, stop the spending on day one and return to fiscal responsibility to rein in this runaway out of control inflation, which is a faster rate than at any point in my lifetime. | ||
| Go back when it comes to border security, return to President Trump's border security policies, which made it the most secure border in our nation's history. | ||
| Making sure that our candidates across the country continue to message on those issues is very, very important. | ||
| And we are doing that every single day, pushing through the next 50 days. | ||
| Okay, the Hill led today with an article that said that the Democrats understand that, with a House that would be taken over and had a significant majority by the Republicans, that Washington, D.C., would change and it would become very confrontational. | ||
| And they specifically brought up appropriations and investigations. | ||
| Do you believe, because the other hit on the Republican leadership, and let's get it out there, you're not conservative, and this is all, not conservative enough, but particularly not tough enough. | ||
| Do you believe you and Republican leadership are tough enough, and do you believe that you'll channel not just the anger, but the steely resolve of these voters and these numbers that, not on the margins, they want significant change. | ||
| A big majority of the American people want significant change. | ||
| Is the Republican Party leadership in the House, yourself included, tough enough to execute on that? | ||
| Absolutely. | ||
| No one can question my toughness, Steve. | ||
| In the biggest battles that we have had for the soul of our country, I have stepped into the breach again and again and again. | ||
| And I have been eviscerated and smeared by Democrats, whether it was impeachment part one, when every Democrat across the country, the entire left-wing radical ecosystem rained down on my district, pouring millions and millions of dollars, smearing myself and my family. | ||
| What did we do? | ||
| We channeled the power of the people, and we won by double digits, the largest number of votes ever. | ||
| During the election security and the Electoral College vote, again, we were smeared, canceled. | ||
| I was proud to be a leader standing up for the Constitution. | ||
| We saw significant overreach in a number of states, which all the viewers know about, Pennsylvania, Georgia, Wisconsin, Arizona, et cetera. | ||
| So for those toughest battles, I have a spine of steel. | ||
| Uh, my conference members, our conference members know that in terms of House Republicans. | ||
| I will always take on the toughest fights on behalf of the American people, whether it's taking on Andrew Cuomo, who is no longer our governor and holding him accountable, or whether it's taking on Joe Biden or folks in my own party who maybe have famous last names, but have lost the will of the people. | ||
| So voters in my district and across America know that I have a spine of steel and I am proud to be one of the By the way, you went to Harvard. | ||
| Did they try to take your degree back, or then they canceled you from the Institute of Politics? | ||
| Actually, the college you went to came after you also during this. | ||
| Did I remember that correctly? | ||
| You're remembering correctly, Steve. | ||
| I was canceled. | ||
| by Harvard and they did start discussing taking not only my degree but Ted Cruz's degree. | ||
| Those are degrees that were earned, but they went after, it's not just me, they go after all conservatives. | ||
| There was a recent article where they smeared Tom Cotton, myself, Mike Pompeo, Ted Cruz, Mike Gallagher, who didn't go to Harvard, he went to Princeton, but you know, the elites of the left, they don't want to have, they want to completely silence the conservative movement. | ||
| And what's really sad, Steve, is it impacts the students. | ||
| The students are not able to have free speech on college campuses and shame on these institutions for doing so. | ||
| But as I said to Harvard, this is not just another example of your radical woke ideology. | ||
| I am proudly canceled, but I'm proud to be a conservative among the number of conservatives who have graduated there. | ||
| It's a small percentage, but boy, have we stood up for these important fights. | ||
| Lisa, and particularly for the doubters, where did they go to find out more about you, the campaign, you personally, what you stand for, and what you're going to do as the head of the conference in the run-up to this victory, and then the very tough job of basically shutting down Biden's most radical policies? | ||
| Well, they can follow all of my social media on Elise Stefanik. | ||
| They can follow me on Truth under Elise Stefanik. | ||
| My campaign website is Elise for Congress. | ||
| They can support through Elise Victory Fund. | ||
| And we are out there messaging every single day. | ||
| So the information we're putting out, really the tip of the spear when it comes to this country in crisis messaging and how House Republicans are going to hold Joe Biden accountable. | ||
| I'm also proud to be supporting so many candidates across the country. | ||
| That's an area that my predecessor really did nothing on, but really making sure that we have the resources to make sure these campaigns win and flip these districts. | ||
| And we'd love to have you back on to talk about some of those specific races and particularly the ones you're involved in. | ||
| But Elise, thank you very much for taking time. | ||
| I know you're incredibly busy and being the first interview since you announced for conference chair again. | ||
| So thank you. | ||
| Thanks, Steve. | ||
| So, Cortez, I gotta bring you in here because this was the theory of the case, and we said it back in the January, and she stood up, and this was really the fight over Cheney, because Cheney had not revealed herself totally to the rabid anti-Trump, but she was doing it behind closed doors. | ||
| That's one of the powers of what, Stefanik was the only one that smoked her out. | ||
| The created crisis brought on by our elites, Steve Cortez, these NBC numbers, they warm the cockles of your heart, sir? | ||
|
unidentified
|
Indeed. | |
| Well, listen, it shows that the American people are very educated, that they're not buying spin from the corporate media, they're certainly not buying the propaganda out of the White House, and they realize a couple of things. | ||
| Number one, they realize what they're living with every day in terms of inflation and what it's doing to their prosperity, that the fact that they're working harder to get poorer every single day, and the American people, not just those who live along the border, all over the country realize that, as you often warn correctly, Steve, every town in America is a border town. | ||
| So on these Key issues of immigration and inflation, which I still believe the two I's are the most significant issues out there. | ||
| There's other things that matter, of course, but those are the most important two issues that matter most and are most directly relevant to people's lives. | ||
| Number one, on both of those issues, Biden has failed most miserably. | ||
| But number two, we in the patriotic populist movement have the best, most effective answers. | ||
| To solve both of those created crises, which again, totally created. | ||
| Not a matter of happenstance, not bad luck, not the business cycle, created crises by the establishment and Joe Biden. | ||
| We have to fix this mess. | ||
| We didn't make it, but we're going to fix it. | ||
| By the way, we're going to translate this now, the created crises of what the Biden regime has done. | ||
| We're going to translate it to the capital markets, particularly the bond market and how it's changing your life. | ||
| All next with Steve Cortez in The War Room. | ||
|
unidentified
|
War Room, pandemic with Stephen K Banner. | |
| The epidemic is a demon and we cannot let this demon hide. | ||
| War Room Pandemic. | ||
| Here's your host, Stephen K. Bannon. | ||
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| Mike Lindell will be up in this afternoon's show talking about he's dropping a lawsuit on the FBI and the DOJ. | ||
| Tomorrow we'll get updates on that. | ||
| Steve Cortez, we have, we're going to talk about the creative crises, and I just want to say one thing before I move on to this, but Stefanik, go back to the spring of 2021. | ||
| I realized somebody, she's a writer, she's this, I, hey, listen, it's about your action. | ||
| Nobody was prepared to step up and take Liz Cheney out. | ||
| None of them. | ||
| None of them. | ||
| Only she was coming up. | ||
| Think about where we would be if Cheney... And Cheney wasn't gonna budge. | ||
| Unless somebody stepped up and gave him a bid away, you gotta have a bid away. | ||
| And unless somebody did that, she'd still be conference chair with all that poison. | ||
| It'd be over. | ||
| It'd be over. | ||
| In the spring of 2021, nobody was stepping up. | ||
| Cortez, you remember that. | ||
| They were running and hiding. | ||
|
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Right? | |
| They were accepting... A bunch of guys were dropping out and not gonna run for the House again. | ||
| To go run for other seats. | ||
| Stefanik stood up and look at those numbers on the creative crisis. | ||
| Now the creative crisis has translated into your personal life through the bond market, but we have breaking news on the housing market and Steve Cortez is going to walk us through it, sir. | ||
| Yeah, unfortunately, Steve, listen, I'm an optimist by nature. | ||
| I look forward to the day when I can talk about fantastic economic news, and we will get there, but it won't be easy. | ||
| More dreadful economic news out just during your show this morning on housing from the National Association of Homebuilders. | ||
| Homebuilders sentiment, and this is a really key index, hit another new low for the move, well below expectations that came in, and only 46. | ||
| Now, to put that in c 50 means contraction. | ||
| So the homebuilders them who run these businesses market, the housing const now officially in contrac further context. This num of this year, Steve, was It has nearly been cut in half in a matter of months because of the mismanagement of our economy by Joe Biden. | ||
| I mean, that's not just a decline, Steve. | ||
| That's an absolute implosion. | ||
| And other than with, like, so many statistics that I mentioned on this show, other than the spring of 2020 lockdowns, right, which was an epidemiological Pearl Harbor that crashed the global economy, accepting that period, this is the lowest number for homebuilder sentiment Since 2014. | ||
| So Joe Biden just continues to set record or record. | ||
| They're all at least eight years. | ||
| Many of them are 40 year records, all the wrong direction, of course, and very much connected to this, by the way, interest rates. | ||
| So let's look today. | ||
| The biggest news of the day, in my opinion. | ||
| No, no, hang on, hang on, hang on. | ||
| Can I say something? | ||
| fact that 10 year treasury yield and again I know a lot of folks out there they perhaps get a little you know a little confused we start talking about bond markets I'm gonna put this in very simple terms and then no no hang on hang on hang on can I say something I went from Arizona to to to the talk to Louis on Saturday night, had conference calls with people all over the weekend, Zoom meetings, and then talked last night at Huntington Beach. | ||
| They're not. | ||
| They actually say they love the way we break down the capital markets and how it relates to their personal lives, particularly people that are not used to this. | ||
| So no, take your time. | ||
| This is very important, particularly as we say, the price of the 10-year bond drives basically every other Correct. | ||
| You know, all the interest rates on your credit cards, your mortgages, your car loan, everything. | ||
| So walk through. | ||
| This chart is not a good chart. | ||
| Yeah, so let's show chart number one, please. | ||
| And as I said, this is the biggest news of the day, for sure. | ||
| It could well be the biggest news of the year, all right? | ||
| Because the Treasury 10-year bond yield, which is shown right there, that is the benchmark bond yield for the world, meaning all interest rates globally are priced off of this market. | ||
| It's sort of the bond north star. | ||
| Your home loan, your credit card debt, anything you do to borrow in your life, corporate bonds, all of it is based relative to the 10-year Treasury, and for that matter, all over the world, not just here in the United States. | ||
| And that chart, as you can see, that chart goes back 10 years, that shows that right now, as of today, we are at the highest levels. | ||
| You can see, those who are watching, that we're at new highs for that chart. | ||
| We are at the highest level, 3.5% interest rates for a 10-year U.S. | ||
| Treasury bond, the highest yields that we have been since 2011. | ||
| Now, a couple points that I think are really important, Steve. | ||
| In 2011, we were coming out of the terrible 2008-09 crisis, and the economy was surging. | ||
| As a matter of fact, we didn't have a recession from late 2009 all the way until Joe Biden. | ||
| Of course, we are now in a recession, no matter what corporate media tries to claim. | ||
| So we then had reasonably high interest rates, but for a good reason, Steve, because the economy was accelerating, accelerating out of a very severe crisis. | ||
| Now we have the opposite. | ||
| The economy had a severe crisis, was growing significantly under the Trump boom 2.0 as we were reopening with gusto and without inflation, and now we are right back into the soup. | ||
| And it's not just because of GDP going negative, which it has, and that's certainly bad enough, but on practically every single metric, and we try to show so many of them on this show, of course, to prove our point with data and evidence, rather than just opinion. | ||
| So what we have right now is the worst of both worlds. | ||
| We have interest rates in a place where they haven't been in over a decade, combined with a slowing economy. | ||
| And that's the exact opposite of what you expect in a normal business cycle. | ||
| But this is anything but normal. | ||
| And to connect the dots between those two first points of discussion, the reason that the housing market, the reason homebuilders have gotten so pessimistic, the reason they tell us that the construction industry is in contraction, which means layoffs are looming, In everything construction-related, the reason that has happened, right, is because of Biden's insane inflation. | ||
| A totally created crisis. | ||
| This is absolutely critical for all of the viewers out there to understand. | ||
| Let me give you another data point, because let's bring this down to a company level, and let's get consumer-focused here as well. | ||
| FedEx. | ||
| And I know you talked about it on the show last week, but if we can pull up chart number two, please. | ||
| This is FedEx. | ||
| FDX is the ticker. | ||
| Okay, and this is since Joe Biden took office. | ||
| And I point out there, mind the gap, because on Friday, FedEx, which is a very big, very sophisticated company, normally pretty predictable in terms of its earnings outlooks, it massively, massively missed, hence that gigantic gap down in FedEx, down almost $100. | ||
| It was $251 when Joe Biden took office, gapped all the way down Friday at the lows to $155. | ||
| FedEx is, and by the way, this UPS similarly gapped down, not as much as FedEx, but gapped down as well. | ||
| So this isn't just a FedEx story. | ||
| It's not company specific. | ||
| The point here is FedEx is telling us that the economy is massively crashing at a time when interest rates are soaring. | ||
| So you're literally getting buried. | ||
| You're getting blasted from both directions right now. | ||
| This is because of Joe Biden. | ||
| These are the consequences of his profligacy, of his total mismanagement of the economy, when he was given a fantastic handoff from Donald Trump and he squandered it completely. | ||
| I want to go to your comment, because then we'll come back and connect some of these dots. | ||
| One of the biggest weeks for central banks all over the world is this week. | ||
| Walk through what you mean by that. | ||
| And what's the impact on the country and people? | ||
| So, our own Fed meets on Wednesday, widely expected to raise interest rates by 75 basis points, part of the reason why the bond market is selling off, meaning selling off in price. | ||
| In bonds, as price goes down, interest rates Go up. | ||
| So the Fed is expected to continue to act aggressively, as I believe it firmly needs to. | ||
| Now, it was totally derelict in duty, and Jay Powell lied to the American people repeatedly for many months, as did Janet Yellen, current Treasury Secretary, former Fed chair, tried to fool the American people into believing that the systemic inflation that Biden created was somehow transitory, which was their favorite word for a long time. | ||
| But after doing the wrong thing for a very long period of time, the Fed realizes it really has no choice. | ||
| But to raise interest rates aggressively. | ||
| And this has become a global phenomenon. | ||
| And by the way, I want to put even the global blame on Biden. | ||
| And here's why. | ||
| Steve, if Biden was not needlessly escalating this war in Ukraine, what should be a regional struggle of very little importance to the rest of the world, if it weren't for Biden insisting on escalating that regional struggle into a global conflagration, we would not have global inflation the way we have it right now. | ||
| Now, I'm, of course, most concerned with our country, right? | ||
| I'm totally America first. | ||
| The rest of the countries, that's up to them to manage their economies. | ||
| But my point is, Biden's blame extends far beyond our shores when you connect the geopolitics and the national security aspects with the economics. | ||
| And because of that, to your point, you said it's a huge week for central banks, not just our own, but most of the major central banks of the world, Bank of England, Bank of Japan. | ||
| Are meeting this week. | ||
| All of them basically expected to raise interest rates in concert, which again, I think they need to at this point, but it's just another sign of how bleak the economic situation right now is for Americans and to connect this back to the polling, Steve. | ||
| that you mentioned from NBC, not exactly a right-wing organization, not somebody who's trying to make us look good. On these economic issues, on the core economic issues like cost of living and the overall economy, Republicans aren't just in the lead. They are in double-digit leads and in some cases near 20 percent. So look, in anything in life, focus on your strengths, right? | ||
| Focus on what you do well, whether it's your business, whether it's a sporting event, whether it's campaigns. | ||
| Let's focus on what we do well, where our opponent is weakest, and what we do well. | ||
| And right now, the American people overwhelmingly realize that there are creative crises that exist. | ||
| They are suffering dramatically because of them on a very real basis. | ||
| Remember, one out of six American households is delinquent on their utility bill right now. | ||
| The most basic Bill, in anyone's life, they're literally at risk of getting the power turned off, the lights turned off. | ||
| Okay, that's how significant this is. | ||
| It's something that corporate media either doesn't care to realize or just ignores because of their willful neglect of the American people. | ||
| The American people know that there's a crisis. | ||
| They're living with it. | ||
| They know it was created by Joe Biden. | ||
| They're looking for alternatives. | ||
| There are great candidates out there who are doing as well, but in these closing weeks, with what, six weeks now to go, we need to make the case. | ||
| We need compelling, Closing arguments to finish the job because 10-year Treasury yield, again today, most significant news of the day. | ||
| And Steve, to add one more point to this, which I think is crucial, what it also says is that if this profligate spending, this exorbitant borrowing spending doesn't stop, Steve, our costs to finance that debt are soaring and will soon become totally unsustainable, even for the United States. | ||
| Remember, we're, what's today, the 19th? | ||
| We're 11 days away from the government not having money. | ||
| The fiscal year ends September 30th. | ||
| You're going to see all the madness start up. | ||
| We're going to be all over people on this. | ||
| I want to go back to FedEx for a second. | ||
| Jim Cramer, and not to single out him, but let's single out him, on the 29th, I think, of June, he put out a thing that FedEx's numbers for the year were going to be huge because of e-commerce, right? | ||
| And all the bill they had to deliver. | ||
| The CEO kind of backed that up, right? | ||
| This miss, and what it shows, because FedEx, and it ties back to your purchasing managers, FedEx is the interconnective tissue of global commerce. | ||
| They're the guys sending the purchase manager, hey, I gotta get it here right away, get it tomorrow. | ||
| That wasn't a miss, that's a miss. | ||
| Now, either the CEO's totally incompetent, because now he's saying, hey, it's a sign of global recession. | ||
| Well, hey, dude, you don't need to listen to watch the war room if you're CEO with all that information 60 days ago to know something's up. | ||
| So either Leiter misrepresented or they were totally caught by surprise. | ||
| But this miss was so big, it shows you the global economy is not just slowing down, it's collapsing as far as commerce goes. | ||
| Steve Kortes. | ||
| No, correct. | ||
| The economy, and again, this is something that has not happened in the two-plus decades since China emerged as a world economic power, when it was ushered into the World Trade Organization on terms that were incredibly beneficial to the Chinese Communist Party, to the Beijing junta, terribly detrimental to the U.S. | ||
| on a bipartisan basis. | ||
| In that entire period of 20-plus years, we have not seen a recession in concert of the major economies because Even in 08-09, as bad as that was for the U.S. | ||
| and the West, China powered through. | ||
| Now, a lot of that was through massive borrowing and through a lot of accounting dishonesty. | ||
| It was a lot of smoke and mirrors, but the point is, it powered through. | ||
| Right now, you have the U.S., Europe, and China, the three major economic centers of the world, crashing into the ditch in concert. | ||
| You have a synchronicity of recession right now, something we just have not experienced before. | ||
| And frankly, I don't think anybody can tell you the exact ramifications, but I can sure bet and say with some degree of confidence that they are going to be very, very severe indeed. | ||
| Okay, short commercial break. | ||
| We're going to talk about the income side of your income statement about inflation and wages not keeping up, but now also your balance sheet. | ||
| Because guess what? | ||
| That housing is also a canary in the mine shaft. | ||
| Another hit to the American people. | ||
| Upcoming. | ||
|
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| Download now. | ||
| Okay, we've got Ben Harnwell with the Abundance War Room, Rome, and he's got big breaking news today on the Georgia Maloney situation, the surge of her. | ||
| They're talking about taking two-thirds of the seats in Parliament. | ||
| Salvini's got a big interview up on Newsmax. | ||
| John Grizzi, amazing interview, talks about how the right's going to govern. | ||
| And Steve Cortez, it's an in-your-face, they're not going to back off one inch to save their country. | ||
| So this is spreading from the Swedish Democrats to the populace in Canada, to Italy, United States, Bolsonaro. | ||
| We're ascendant right now, and you can tell by this, people are listening. | ||
| The media can't spin them anymore. | ||
| By the way, talk about spin. | ||
| And this is where the White House, this is why we're up so many points. | ||
| People are not buying it. | ||
| American people have common sense. | ||
| Tell me about the, what did they blame? | ||
| The global economy, we've talked to you about it. | ||
| We show you every metric from the purchase managers. | ||
| What Cortez has been talking about, that's personified by, hey, you don't need to ship it overnight. | ||
| In fact, you don't need to ship it because they don't need it, right? | ||
| Because the economy is slowing down. | ||
| That's the FedEx number dropping. | ||
| We've talked about this for months about it. | ||
| What did the White House, And ladies and gentlemen, this is one of the things that I think is upsetting people that are not MAGA. | ||
| And I get this all the time. | ||
| They're tired of being talked to like children and like morons. | ||
| What did the White House economic advisor blame the FedEx? | ||
| Did she blame it on purchasing managers pulling back? | ||
| Did she blame it on the economy, that things just are not happening? | ||
| And so guys don't need, I don't need the FedEx tomorrow. | ||
| In fact, cancel the order. | ||
| I don't need FedEx at all right now, right? | ||
| To have that kind of miss on your numbers. | ||
| What did she blame it on, sir? | ||
| Steve, the theater of the absurd continues. | ||
| You know, I mentioned previously how blameworthy both Powell and Janet Yellen are. | ||
| Both of them have no business in the significant positions they're in because they've lied repeatedly to the American people. | ||
| Here's a new level of absurd lie, though, and I know the crack team at War Room is going to pull this clip at some point, but let me just tell you, and this is from the great Tom Elliott, the founder of Grabian. | ||
| If you don't follow him on social media, folks, you should. | ||
| He does a great job. | ||
| of indicting the left in their own words by pulling their own clips and just presenting them to you. | ||
| So this clip is from just this morning from Heather Boushey, who is from the Council of Economic Advisors of Biden from the White House. | ||
| And this is his his tweet. | ||
| He said, asked about FedEx, confirming that we're already in recession. | ||
| The Biden administration's Boushey says it's not their fault, citing COVID, Ukraine and Puerto Rico losing electricity because of, wait for it, Climate change. | ||
| Because of climate change. | ||
| Now, first of all, I don't want to belittle at all what's happening in Puerto Rico. | ||
| I know it's a serious situation down there with the storm and the electricity, but the entire island of Puerto Rico being out of business for FedEx is hardly significant to a global firm like FedEx, first of all. | ||
| But the fact that these unserious people, that somebody who was supposed to be minding the store, the economic engine of the United States, somebody who is supposedly an expert at the highest levels of the economy, is bringing in this ridiculous liberal narrative of climate change and saying that that is responsible for FedEx plummeting rather than the created economic crisis and mismanagement of the Biden administration, particularly as it relates to inflation, on the very day that 10 year yield | ||
| hits the highest levels in 11 years. | ||
| These are totally unserious people. | ||
| And Steve, to your point, to connect this back to politics, this is why it's very possible for us right now, those of us in the patriotic populist movement, to win over folks who may not be with us on a host of issues. | ||
| All right, this is an important point. | ||
| Maybe they don't agree with us on everything. | ||
| Maybe they're not as socially conservative as most of us are. | ||
| But when it comes to the economic pain that they're suffering, it's very real right now. | ||
| They're not okay with the status quo. | ||
| And to this point, you know, you've mentioned the polling, that NBC polling, which is so significant. | ||
| Let me give you another poll, which I think is pretty significant, and that is Harvard-Harris polling. | ||
| This came out just late last week. | ||
| It shows that overall, Trump against Biden, 2024 race, overall, Trump is leading by 3 percentage points. | ||
| Among independents, the very kind of people I think we're talking about right now, Steve. | ||
| Among independents, Trump is up by 8. | ||
| That's not in the Electoral College. | ||
| That's in the popular vote. | ||
| He is up by 8% right now. | ||
|
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|
So, again, you know... By the way, I think we're... I think we're up by... The field is fertile, okay? | |
| Yeah. | ||
| By the way, I think the NBC... I think on Independents, we're up 23 points. | ||
| It's a huge number. | ||
| I'll dig that out for this afternoon. | ||
| I want to go back, ladies and gentlemen, just to look over the other side of the hill of this double whammy you're about to get. | ||
| Every month, for 17 months in a row, real wages are dropping. | ||
| So you're the hamster on the wheel, and the harder you go, the farther you're behind. | ||
| But we just had the most historic, biggest drop, $6 trillion of net worth of the American people in the second quarter. | ||
| What does the interest rate pop, the 10-year Treasury, the housing market statistics, what does that tell you about the real estate market, brother, where basically 90% of people's net worth is tied up? | ||
| What does that tell you? | ||
| What should people look forward to on that, sir? | ||
| Look, it says, unfortunately, the reality is, where all the numbers point, where all the trajectories point, is toward the American people working harder to become poor. | ||
| That is just the absolute reality right now. | ||
| And it also tells me, Steve, That layoffs are looming. | ||
| When you see homebuilders, right, in a key industry like construction, where a lot of strivers have thrived for years, when you see that kind of a decline, a collapse in homebuilder sentiment, it tells me, combined with the FedEx news, when you look at both the macro and the micro, what's happening with small businesses unable to pay their rents. | ||
| 40% of them overall, according to the Alignable survey, the majority of minority-owned small businesses in America, 53% of them, did not make rent last month. | ||
| That tells me that the layoffs are looming. | ||
| They're just starting now, but sadly they're going to accelerate. | ||
| In a pretty significant way. | ||
| So the only thing the Biden White House has tried to hold on to is, oh, but there's plenty of jobs. | ||
| Of course, these are jobs that are just coming back from forced layoffs. | ||
| OK, they're not created positions, number one. | ||
| But number two, even those returning jobs, which are certainly welcome, the point is those they are going to start being eliminated, unfortunately, because of what Joe Biden, because of the terrible policies that he's inflicted upon this country. | ||
| This is why Cortez is the best messaging guy out there. | ||
| This is the new homage we're going to give to Biden. | ||
| This is the Biden watchword of 50 days ago. | ||
| To the American people, working harder, getting poorer. | ||
| Right? | ||
| Sums it all up. | ||
| Right there, Cortez. | ||
| Steve, how do people get to you? | ||
| We're going to play Get Your Back hopefully Wednesday, I think. | ||
| We got a lot of your chalk talks to go on other issues, a lot more economic analysis. | ||
| But Steve's also going to be on the hustings supporting people. | ||
| Steve, how do people get to you? | ||
| I will be in the Pacific Northwest this week. | ||
| Please come and see me if you're in Central Oregon. | ||
| Just DeschutesRepublicans.org. | ||
| You can get tickets for that event in Bend, Oregon on Wednesday. | ||
| And follow me, please, always on social media. | ||
| I'm at Steve on The Getter. | ||
| By the way, those guys in Bend are the best. | ||
| They're incredible. | ||
| They're bringing Cortez out. | ||
| I love it. | ||
| Steve Cortez, you're fantastic. | ||
| Your stuff on Getter is amazing. | ||
| Your live streams, all of it. | ||
| Keep fighting, brother. | ||
|
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See you later in the week. | |
| The great Steve Cortez. | ||
| Okay, we're going to take a short break. | ||
| Trying to track down Navarro. | ||
| Got Mark Meckler. | ||
| Also going to talk about this rail strike. | ||
| Biden might have jumped the gun here on getting it approved. | ||
| All next in The War Room. | ||
|
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We'll fight till they're all gone! | |
| We rejoice when there is no more! |
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