July 13, 2023 - Bannon's War Room
48:53
Participants
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| Speaker | Time | Text |
|---|---|---|
| This is the primal scream of a dying regime. | ||
|
unidentified
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Pray for our enemies, because we're going medieval on these people. | |
| I got a free shot of all these networks lying about the people. | ||
| The people have had a belly full of it. | ||
| I know you don't like hearing that. | ||
| I know you try to do everything in the world to stop that, but you're not going to stop it. | ||
| It's going to happen. | ||
| And where do people like that go to share the big lie? | ||
| MAGA Media. I wish in my soul, I wish that any of these people had a conscience. | ||
|
unidentified
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Ask yourself, what is my task and what is my purpose? | |
| If that answer is to save my country, this country will be saved. | ||
|
unidentified
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War Room, here's your host, Stephen K. Bannon. | |
| I'm sitting here with my father. | ||
| I will make certain that between the man sitting next to me and every person he knows and my ability to forever hold a grudge, that you will regret not following my direction. | ||
|
unidentified
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I am sitting here waiting for the call with my father. | |
| Sounds like a shakedown, doesn't it, Director? | ||
| I'm not going to get into commenting on that. | ||
| You seem deeply uncurious about it, don't you? | ||
| Almost suspiciously uncurious. | ||
| Are you protecting the Bidens? | ||
| Absolutely not. | ||
| The FBI does not and has no interest in protecting anyone politically. | ||
| That's a shakedown, and everybody knows why you won't answer it. | ||
| Because to the millions of people who will see this, they know it is. | ||
| And your inability to acknowledge that is deeply revealing about you. | ||
| Well, Brian, this is what we've seen in the past. | ||
| It was a false appearance of contrition and substance from the director. | ||
| You know, he only apologized for things that have, violations have already been found by courts and Congress, by the way, against the best efforts of the FBI. And so for things that are already established, he went ahead and said, well, we'll never do that again. | ||
| But in terms of the violations that we've already laid out in terms of censorship, FISA violations with the secret court, those are already laid out in the public record. | ||
| He just refused to comment. | ||
| Sometimes he said that he didn't have any recollection. | ||
| And it was a maddening experience. | ||
| I mean, the thing is, Congress has to make a decision here. | ||
| They just went through an entire hearing where they were given nothing. | ||
| He was far more detailed when Eric Swalwell asked him about the FBI Family Day. | ||
| With that, he just held forth at length. | ||
| But when he's asked about censorship, he gives answers that seem rather obviously false. | ||
| You know, he said that the FBI focused on foreign disinformation. | ||
| That's just not true. | ||
| I mean, we have the emails. | ||
| I mean, at some point, you're treating the public like chumps. | ||
| Republican lawmakers have baselessly accused Wray of using the FBI to target those with conservative beliefs, including the former president himself. | ||
| Director Wray was having none of it. | ||
|
unidentified
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There is a two-tiered justice system that has been weaponized to persecute people based on their political beliefs and that you have personally worked to weaponize the FBI against conservatives. | |
| I would disagree with your characterization of the FBI and certainly your description of my own approach. | ||
| The idea that I'm biased against conservatives seems somewhat insane to me given my own personal background. | ||
| You preside over the FBI that has the lowest level of trust in the FBI's history. | ||
| People trusted the FBI more when J. Edgar Hoover was running the place than when you are. | ||
| And the reason is because you don't give straight answers. | ||
| Respectfully, Congressman, in your home state of Florida, the number of people applying to come work for us and devote their lives working for us is up over 100%. | ||
| January 6th was beyond a weaponization of government. | ||
| It was a nuclearization of government against the government. | ||
| I think Tucker Carlson and some of the members' colleagues on the other side of the aisle have said that Ray Epps was a secret government agent in helping encourage... | ||
| Let me have it. | ||
| It's Thursday, 13 July, Year of the Lord, 2023. | ||
| That goes on, and if we had time, we would play the rest of it as they defend Ray Epps. | ||
| Cash Patel is our first guest. | ||
| We're absolutely packed today. | ||
| At 11 o'clock, we have a very special announcement. | ||
| A very special guest is going to come on. | ||
| We're going to talk about a big event that's going to happen next week. | ||
| Cash Patel, should Matt Gaetz and the other people on Jordan's, should there be a criminal referral right now on Director Chris Wray for perjury, for lying to Congress, just bald-faced lying, continue to bald-faced lie? | ||
| Should there be a criminal referral on perjury? | ||
| Yeah, and let me get to that one. | ||
| There should be a criminal referral for Christopher Wray for breaking the law by violating half a dozen congressional subpoenas. | ||
| Those are federal orders from the legislative branch to produce documents, and we now know Chris Wray has violated six of them. | ||
| Each of those is a felony. Normally people get prosecuted when they break the law and violate a congressional subpoena. | ||
| Add that to your spot on assessment that Christopher Wray has now lied to the American public under oath. | ||
| Remember, he lied about the whistleblowers. | ||
| He lied about their even existence of a confidential human source. | ||
| That blew the cover on them. | ||
| He lied about retaliating against whistleblowers. | ||
| He lied about everything from the Russiagate cover-up to the coverage of how Joe Biden and Hunter Biden are being treated. | ||
| Lie after lie after lie. | ||
| Now what you have, luckily, for Republicans in 2024, is his lies recorded in 2023, so the statute of limitations is told. | ||
| But of course, this Merrick Garland's Department of Justice is never going to prosecute him. | ||
| Well, tell me about what you think of the performance of Jim Jordan and the committee yesterday. | ||
| I mean, you seem to have it. | ||
| I didn't hear a lot of this brought up besides Gates and Andy Biggs and a few others. | ||
| It didn't really, you know, it was Jim Jordan. | ||
| So once again, we have a staff problem over there. | ||
| Why is this thing not more pointed? | ||
| And why is it not leading immediately to an impeachment inquiry and criminal referrals on Ray? | ||
| That's what people want to see because of how he's broken the law. | ||
| Yeah, look, I don't know whose staff and what over there. | ||
| I know they got a good group of folks, but what I would like to have seen personally is what I posted on Truth Social. | ||
| No one asked Christopher Wray questions about violating congressional subpoenas, for failing to produce documents, for failing to produce witnesses, for failing to give Congress full access to the FBI and its holdings. | ||
| I don't understand why This Congress can't get their simple math right and say you owe us legally documentation and not a single member of Congress asked him about it. | ||
| They didn't ask him about his retaliation against whistleblowers. | ||
| They didn't ask him about his withholding of documents that were lawfully supposed to have been turned over to Congress. | ||
| And more importantly, above all of that, not one single person in Congress said, hey, Mr. | ||
| Director, you have failed the American people. | ||
| We are going to impeach you. | ||
| But more importantly, we are going to fence and take your money until you cooperate with this Congress who has constitutional oversight over it. | ||
| It may have happened, Steve, but I didn't see it. | ||
| I saw a lot of headline grabs. | ||
|
unidentified
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No, no. No. By the way, the exact opposite. | |
| I think Ken Buck said we're not going to use the Holman rule. | ||
| Talk to people about that. | ||
| Not only was it not brought up, the only time I believe it was brought up is when Ken Buck said, who was giving kind of a cat bath, right, said that, in fact, he wasn't supportive of that. | ||
| He wasn't supportive of the Holman rule. | ||
| Tell folks what that is, why that's such an important weapon here. | ||
| Yeah, it's really simple. And look, the left-wing media is going to be like, oh, now the right's calling for defunding the police. | ||
| That's exactly not what we are calling for. | ||
| The Holman Rule and the fencing mechanism in Congress allows Congress, the appropriators, the Republicans, We're in the majority to withhold certain funds related to direct programs when the FBI director breaks the law, when the FBI director weaponizes it. | ||
| Remember, Steve, this is the same guy who unlawfully allowed 250,000 times over the FISA system to unlawfully query American citizens. | ||
| That's after he unlawfully allowed 2 million unlawful search authorities under the FISA programs under his tenureship as director. | ||
| And we're just here to believe that they don't want to apply the Holman rule for the weaponization of government for the unlawful activity of an FBI director when the inspector general has found that and put it in writing? | ||
| I don't understand why these appropriators won't act on their subcommittees where there are chairmen and women. | ||
| They do not need to pass a legislative budget to withhold it. | ||
| All they need to do is act, and none of them seem to even care to question the FBI director when he was Heisman-ing and stiff-arming them the entire day, as you saw, continuing to lie, continuing to withhold from Congress. | ||
| By statute, Ray only has to come before Congress once a year, I think, unless there's some emergency. | ||
| It's statutory that he has to make one annual appearance before the House and the Senate. | ||
| I'm correct on that, right? | ||
| Yesterday was it. That's it, unless they, you know, actually get their act together and use the subpoena process to compel his testimony, which I don't know if they'll do. | ||
| But let's talk about that in the subpoena process, because there was so much left. | ||
| That's unanswered. | ||
| Talk to me about his answers. | ||
| First off, he purged himself again and lied again about the federal judge in Louisiana on the Missouri and Louisiana case about the FBI. And it's not bullying. | ||
| It's the FBI's suppression of these tech companies, of suppressing American dissident voices. | ||
| His answers on that were just factually not even close to being the truth. | ||
| Am I incorrect? No, look, I'm glad you raised this issue. | ||
| Remember, this was the same director, Chris Ray, who had an 80-agent task force assigned to big tech companies before the lead-up to the last presidential election who met with the Twitter and FBI execs on a weekly basis. | ||
| And oh, by the way, half his former FBI employees were ones operating those shops in Twitter and Facebook. | ||
| And told them what to censor in the lead up to a presidential election. | ||
| Enter this judicial opinion, this ruling by a federal district court judge that stops, full stops, the FBI from engaging in meetings with big tech, Facebook, Twitter, etc. | ||
| And no member of Congress, as far as I'm aware, asked the director simply the following question. | ||
| Have you decided to follow the law? | ||
| And prohibited your agency from meeting with big tech on these censorship issues. | ||
| I don't know the answer to that. | ||
| And of course he hasn't stopped them. | ||
| But Chris Wray wasn't put to the task of getting an answer to the American public on this election rigging and censorship issue that is so prevalent in the American election landscape. | ||
| So it's really troubling to me that you just can't get an FBI director To pony up to the American people. | ||
|
unidentified
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And you can't get Congress to force them. | |
| Mike Johnson was the first guy to take the, from Louisiana, was the first guy to take the questioning yesterday. | ||
| We actually had it live. | ||
| He, Ray, said he hadn't even read the opinion. | ||
| He had been briefed on the opinion by FBI staff. | ||
| He had not read the opinion. | ||
| I mean, how, how, I mean, right there, he's just up in your face. | ||
| It's a big FU. This opinion was the biggest beatdown in the FBI, I think, at least in living memory, right? | ||
| Maybe there's some stuff that came out on 9-11 about the FBI's, all the faults there with not being ahead of that. | ||
| But from a federal bench, it's the worst. | ||
| He couldn't be bothered even to read it, Cash. | ||
| Yeah, look, you highlight the importance of a judicial opinion and you have legal scholars on that are far better at this than me. | ||
| But it's not right-wing conspiracy anymore. | ||
| You have a federal district court judge issue a ruling in federal court that says that the FBI basically participated in censorship with Big Tech to rig presidential elections. | ||
| And they didn't do it once. | ||
| The judicial ruling says they did it time and time and time again Which is why the judge was forced to act. | ||
| Not only did the judge act, the Department of Justice asked for an injunction to stop the judge's order while the case is appealed. | ||
| And the judge said the FBI's conduct was so egregious as it relates to censorship and big tech that he shut down the DOJ's injunction, which means his decision is the rule of law in this country. | ||
| And the head of law enforcement, Christopher Wray, didn't even bother to read that because you know why, Steve. | ||
| You know the answer. Because he's going to go around and say, oh, I didn't know that was the rule of law, so you can't hold me in contempt of Congress because I didn't read anything. | ||
| Talk to me about this other issue today. | ||
| We put a tweet up. | ||
| They're going to start voting on the 1,000 amendments, I think, to the National Defense Authorization Act. | ||
| Why is this so important? | ||
| Cash, you talk about government gangsters, your book. | ||
| Here, we've basically embedded... | ||
| The culture of woke into a trillion-dollar defense budget, and we haven't really gone and gotten anything. | ||
| We've gotten some things out, but we haven't even started the process of de-woke-ifying and de-weaponizing the Defense Department. | ||
| Your thoughts? Yeah, look, as a former chief of staff at DOD, I'm the first one to tell you we need a DOD budget. | ||
| That's what the NDAA is. | ||
| It's fancy for just funding the Department of Defense. | ||
| But I'm with you on this one. | ||
| They care more about these thousand amendments to add a billion dollars to this, a million dollars to help the DEI programs, a million dollars to get trans people here and there, a million dollars to conduct surveys about the weather. | ||
| How about we just direct all of our money to preparedness and readiness, which is at an all-time low across all five service branches. | ||
|
unidentified
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That's what this NDA should focus on, protecting this nation and no kind of country. | |
| Cash, hang on one second. | ||
| I'll just hold you through the break and get an update on government gangsters. | ||
| Cash Patel's with us. Peter Navarro on stagflation. | ||
| Jamie Dimon, the chairman and CEO of J.P. Morgan, actually agrees with Brother Navarro. | ||
| We'll go through all that. Mark Mitchell, Joe Allen, and 11 o'clock, some special guests will join us here in the war room. | ||
|
unidentified
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We rejoice when there's no more. | |
| Let's take down the CCP! Here's your host, Stephen K. Band. | ||
| Cash, by the way, the NDAA, there are going to be a lot of amendments on this day. | ||
| A big fight. Don't know if this is going to get voted this week. | ||
| It's another thing that your MAGA representatives are trying to stop the war machine from just pressing this forward. | ||
| I also have huge complaints about the size and scale of this budget. | ||
| The thing's out of control. | ||
| And you can see this fiasco. | ||
| And we're going to have Ben Harnwell join us for in-depth analysis of what happened over at NATO, this fiasco of NATO, where once again, Europe is a protectorate of the United States and you, the American citizens, are paying the bill. | ||
| Cash, what then is to be done? | ||
| What would be your recommendation? | ||
| Because this, you know, if this is McCarthy's best shot, And no offense, Jim Jordan's just proven himself, and he can go on Fox in handy every night and talk all he wants. | ||
| It's not happening. It's just not happening. | ||
| You can tell yesterday, you got Ray by statute one time a year. | ||
| You gotta come in breathing fire. | ||
| And all this stuff, he gets off track, and then half the team is not even on the same page. | ||
| There's no preparation. | ||
| There's no internal organization. | ||
| They're not staffed correctly. | ||
| They're not asking the right questions. | ||
| There's so much left on the table that Ray should have been drilled on time and time again. | ||
| And I think there's easily enough material there for a criminal referral for perjury. | ||
| I mean, Ray just – Jonathan Turley just showed it to you. | ||
| Jonathan Turley laid it out. | ||
| He just kind of laughs at you. | ||
| The only thing he admits to is what's already been proven. | ||
| And then even with the federal judge saying, oh, I haven't even read it yet. | ||
| I've been briefed on it. What should be done about this? | ||
| It's the same thing that we've talked about before, whether it's the NDAA or the FBI and DOJ's budget. | ||
| If these congressmen and women don't want to take the money from specific programs that they need, like, hey, Chris Ray's government-funded G5 private jet and ground him until he does the job for the American people instead of spending millions of It's the simplest task. | ||
| I'm not saying go after special programs. | ||
| Go after things that preclude law enforcement and brave FBI agents who do the job every day on the ground from doing their job. | ||
| I'm saying go after and fence the money and use the appropriations process To close down the government gangsters' corrupt behavior. | ||
| Because look, we can refer them over to DOJ, but they're never going to get prosecuted. | ||
| But what we should do is impeach Christopher Wray and Garland because that will expose the documents necessary to show the American public how corrupt these guys are. | ||
| And that's what we need in the lead up to the 2024 election. | ||
| We know we're not going to get accountability from DOJ. But whether you do it at DOD and force the Secretary of Defense in or the Attorney General The move is the same. | ||
| You go in and you use the appropriations process to take away their money. | ||
| Look, McCarthy, they're trying to play these games in the appropriations process, too. | ||
| We'll get more than that a little later. | ||
| Government gangsters, you do have a date when the book's coming out. | ||
| I think it's mid-September. | ||
| How do people get to the book? | ||
| The unredacted version. | ||
| Mid-September. Steve, you're getting the first unredacted version. | ||
| Governmentgangsters.com. You can also go to Amazon. | ||
| It's exploding on pre-sale. | ||
| It's the book This Government, Chris Wray and Merrick Garland didn't want you to read. | ||
| It's out mid-September. | ||
| Order it right now. Governmentgangsters.com. | ||
| Thanks so much for the support. | ||
| We're going to make this book number one. | ||
| The pre-sales are through the roof. | ||
| Cash, thank you very much. | ||
| Thanks for coming on and giving your assessment of yesterday. | ||
| I think Matt Gase and these guys are smart because I think there are some people working on a criminal referral right now. | ||
| I want to pull up. Let's bring in Navarro. | ||
| Peter Navarro, it takes a lot... | ||
| And by the way, Dave Brat, because I need more time and we're really jammed today. | ||
| Dave Brat's going to join me tomorrow morning. | ||
| We're going to go through Krugman's response to the de-dollarization movement of the BRICS. Krugman once again dismissed it like Krugman dismissed inflation a couple of years ago. | ||
| Same kind of dismissive attitude. | ||
| Brat's kind of deconstructed that. | ||
| We're going to get into it. In the interim, make sure you go to birchgold.com and get your free analysis of this Durban Accords or what's going to happen, this road to Durban, South Africa. | ||
| 22 August, they're meeting. | ||
| They're presenting a basket of currencies or another currency. | ||
| They have announced over the weekend, the Russians have announced, that it will be gold-backed. | ||
| Gold will have a part in this. | ||
| I didn't say it was going to be convertible into gold, but it's going to be gold-backed. | ||
| Somehow gold's going to have an aspect of it. | ||
| This is the beginning of it. | ||
| This is the serious beginning of de-dollarization. | ||
| You've just got to take it like that. If you laugh this off like Krugman is, you're making a big mistake. | ||
| You need to know the impact on your country. | ||
| You need to know the impact on your personal life. | ||
| And make sure you go to the Birch Gold guys. | ||
| Philip Patrick's team asked him the question about these central banks buying gold more than ever. | ||
| Peter, we're trying to get Navarra to go and be our special correspondent. | ||
| We're trying to have a live correspondent in Durban. | ||
| We're trying to see if South Africa will actually allow Peter Navarro in there. | ||
| Dr. Navarro, it's pretty shocking. When I get up early in the morning, as people know I do, and at CNN, a massive headline. JPMorgan Chase's chief executive officer, Jamie Dimon, isn't a fan of Bidenomics. Biden claims middle class focus is the driving force behind the economy's success, but Dimon, head of the nation's largest bank, is unconvinced. | ||
| And if you read this piece, if they put it up right there, you see that's the headline. | ||
| He actually agrees with Peter Navarro about stagflation. | ||
| Walk me through. How does Jamie Dimon and Dr. | ||
| Peter Navarro, you're the economist, the populist nationalist MAGA economist for Donald Trump. | ||
| Jamie Dimon wants to run for president against Donald Trump. | ||
| They're talking about Bidenomics. | ||
| How do you two guys come into agreement? | ||
| Steve, the one vector where Diamond and I are totally on point is we both believe that the mega-trillion dollars of spending that Biden's been pushing through to advance his re-election chances is causing massive inflation. | ||
| And everything else follows from that because of the inflation we've had the Fed Raising interest rates and because of the Fed raising interest rates, we've seen the economy slow down, ergo stagflation. | ||
| And it's interesting to me that the core, the numbers come out this week, right? | ||
| And if you're just kind of an innocent average American, I think you were under the impression that somehow inflation like disappeared Overnight. | ||
| But when you look at it, we've still got a core rate. | ||
| The core rate of inflation, which excludes food and energy, is still nearly 5% when the Fed target is 2%. | ||
| In other words, until the core rate gets below 2%, the Fed's now going to lower interest rates. | ||
| And meanwhile, interest rates are very high. | ||
| What that is doing is squeezing This is a long game. | ||
| The stagflation is a long game. | ||
| It was 10 years in the 1970s. | ||
| The next shoe that's going to drop that nobody's talking about is the wage price spiral. | ||
| You and I have talked a lot about how the deplorables have really taken it in the shorts during Bidenomics because real wages Have been falling for 700 out of the 900 days that Biden's been in office, roughly. Real wages, in other words, what you get in your paycheck adjusted for inflation, has gone down. | ||
| So purchasing power's down. | ||
| Savings, which was excess during the pandemic because people had nowhere to spend it now, is exhausted. | ||
| We're going to see wages go up. | ||
| So as you move Through time, this optimism that somehow there's a trend line forming, that inflation is going to keep going down, is simply wrong. | ||
| See, here's the punchline, Barry Lee in some sense. | ||
| Even if you just leave the Federal Reserve rates where they are, which is likely for three, six months, or likely more, That's very destructive to the economy. | ||
| It'll force us to grow below what we otherwise could, which is the stag part of the stagflation equation. | ||
| So that's where we stand. | ||
| The markets are rallying on this news as they like to do. | ||
| They're at the top end of the trading range. | ||
| We don't know if they're going to break out and have another rally, but Main Street is suffering and Wall Street is dancing. | ||
| But hang on. That's it. But hang on a second, because I want to connect some dots on what's happening right now and why we continue to hammer this. | ||
| We're in a period of lost decades. | ||
| This is what Jamie Dimon is saying. | ||
| His interview last week talked about his concern as the nation's biggest bank, one of the biggest banks in the world, about these regional banks. | ||
| And with the interest rates staying and they're not coming down anytime soon, the commercial real estate market, 80% of the commercial real estate portfolios are in these regional banks. | ||
| That the inner cities and the cities, and I'm talking about places like Youngstown and Dayton, Ohio, not just New York City and Chicago and Los Angeles. | ||
| There's a massive problem there. | ||
| We're in the lost decades. | ||
| Low growth, low growth, high interest rates, declining real wages, declining purchasing power, so the middle class is getting hit. | ||
| This is what Diamond's saying. We also have the yield curve still inverted by the highest rate of inversion it's had in the 41 years that we've kind of tracked that. | ||
| That shows that a bigger downturn is coming, and you see from the layoffs, etc., that the downturn that we're in now is actually going to come. | ||
| And although technically it may not be a recession, we're in a recession. | ||
| For working class people. | ||
| Let's go back to these fights that we're talking about every day in the House. | ||
| McCarthy's surrender on the debt ceiling is still the original sin of this Republican Congress. | ||
| It is the original sin. | ||
|
unidentified
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Because it allows... | |
| The original sin was letting him speak. | ||
| Hang on. Hang on. I know. Hang on a second. | ||
| Just sit there and take your number two pencil out. | ||
| Just jot this down. Jot down the notes from the business school over to the – you're in the arts and crafts department at Harvard. | ||
| Is that where that PhD is from? | ||
| No. But here's the point, Peter. | ||
| It's not just the $4 to $6 trillion of the deficit. | ||
| That's bad enough. It is the $15 trillion. | ||
| Remember, Biden's budget is, what, $6.8 trillion. | ||
| The one next year is going to be $7 trillion. | ||
| You're talking $14 or $15 trillion of total spending. | ||
| When you add it all together, because they like to break it apart, there's just 1.4 of discretion. | ||
| I'll tell you what. Hang on. | ||
| We're going to break and come back. | ||
| This is Mississippi John Hurt. | ||
| Since lay down my burdens, okay? | ||
| Out music. Got some tremendous photography. | ||
| Americana music. | ||
| We're going to play it. Peter Navarro is going to join us the other side. | ||
|
unidentified
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Since I've laid my wedding down I'm going home to live with Jesus Since I've laid my wedding down Wedding down, | |
| Lord Since I've laid my wedding down Glory, glory Hallelujah, | ||
| since I've laid my wedding down, glory, glory. | ||
| Since I've laid my wedding down No more sickness, no more sorrow Since I've laid my wedding down No more sickness No more sorrow Since I've laid my burden down I'm going home to live with Jesus Since I've laid my burden down Okay, | ||
| from the American South, that's Mississippi John Hurt. | ||
| Since I lay my burden down, we're celebrating our month of pride, the pride in the American flag, the pride in the American people, and particularly pride in American music, right? | ||
| Old glory in American music. | ||
| Mississippi John Hurt. We'll be playing cuts of that throughout the show today. | ||
| Peter Navarre got a big piece up in the Washington Times. | ||
| Here's the point I'm trying to make for the audience. | ||
| Structurally, not just you have all the issues with trade, they haven't taken care of the trade, structural issues that Peter Navarro has been talking about, the supply chains, all of that. | ||
| We now have baked in these two massive spending programs that will be over $15 trillion combined of federal spending. | ||
| And that will have at least a $4-5-6 trillion deficit by printing money. | ||
| When President Trump returns to the White House in January 2025, the national debt will be, I don't know, $36, $37 trillion or more. | ||
| You're going to have at least $9.5 or $10 trillion on the balance sheet of the Federal Reserve because they're not going to do any real quantitative tightening. | ||
| In addition, thinking downrange, folks, because we always think downrange here at the War Room, the Trump tax cuts... | ||
| Peter Navarro and I worked so hard that generated that great drive to the economy peaking in 2019 before the Chinese Communist Party let off a bioweapon on us to thwart Trump. | ||
| They all come due. | ||
| That's another four or five trillion dollars. | ||
| You have to deal with. President Trump is going to be very much handcuffed by massive federal debt brought on by the original sin of the McCarthy Republican House. | ||
| And if McCarthy thinks he's going to make up for this with investigations, hey, yesterday is not a good example of that. | ||
| We followed that very closely, and quite frankly, besides Matt Gaetz and a couple of heroes, it was pretty much softball. | ||
| Pathetic. Peter Navarro, your thoughts on the stagflation. | ||
| Where do people go to get your Washington Times speech? | ||
| You've been all over this. Yeah, Washington Times, look, here's the talking point. | ||
| It's Bidenomics equals stagflation. | ||
| Bidenomics equals stagflation. | ||
| Biden's going out on the stump with a one-third approval rating for his handling the economy, and he's trying to sell Bidenomics, right? | ||
| There's a great line in a 2016 speech that Trump gave about politician-made disasters. | ||
| The Washington Times piece, Bidenomics equals stagflation, is simply that if you look at the things that Biden has actually done to manufacture stagflation, slow growth and inflation, it starts with his mishandling of the supply chain crisis. | ||
| That was generated by the pandemic. | ||
| He and Buttigieg just totally let that go. | ||
| And that was like an exogenous shock. | ||
| So we start there. And then the first thing Biden does to add another, what we call cost pusher supply shock, is he completely dismantles the Trump strategic energy dominance policies, which have led To a dramatic increase in energy prices and therefore food prices because energy is a key component of fertilizer. | ||
| So you've got Bidenomics basically causing the cost push inflation and then these multi-trillion dollar spending bills, which you've articulated probably better than anybody out there in the media. | ||
| Have created the other kind of inflation, demand pull, which is too much money chasing too few goods. | ||
| And the amount of money, Steve, that's going to just, it's the gift that keeps on destroying. | ||
| It's just going to go for years, even as you point out. | ||
| Trump tax cuts are going to go away and that's going to create all sorts of issues. | ||
| And so we're in a situation where all the solutions to this crisis Are structural, return to strategic energy dominance, cutbacks, rollbacks, clawbacks on the Biden expenditure bills, bring home the supply chains. | ||
| That's all Trumpian kind of structural policies. | ||
| Zero chance that Biden is going to do that. | ||
| And what he's gambling is, as we eat our seed corn, Is that the crisis won't hit us full force until December of 2024 after the election. | ||
| And if he gets away with that, that'll be an even bigger con than the Hunter Biden laptop con that Chris Wray turns a blind eye to. | ||
| That's where we stand. | ||
| Bidenomics equals stagflation. | ||
| That should just be on everybody's lips. | ||
| And that's the political and economic message, Steve. | ||
| Where do people get this Washington Times piece you've got up? | ||
| WashingtonTimes.com. | ||
| It's very nice. Washington Times prints my Substack stuff. | ||
| So it's PeterNavarro.Substack.com. | ||
| PeterNavarro.Substack.com. | ||
| You can go there. But I really urge you to look at the Washington Times. | ||
| It has the best commentary section, I think, in the country right now. | ||
| Kelly Sadler, who I worked with in the White House. | ||
| Is the editor there of this. | ||
| And they just have great columnists. | ||
| They do a great job. And I'm honored that they do this. | ||
| But you can also go, if you're a chief like Steve and don't want a subscription, you go to peternavarro.substack.com. | ||
| We subscribe. I just don't always have... | ||
| No, no, we just don't always... | ||
| The word subscribes, my team... | ||
| I don't always know with my subscription how to get past the paywall. | ||
| And I subscribe just to... | ||
| Kelly Sadler was such a fighter over the White House. | ||
| I want the Washington Times guys to know that I subscribe just for Kelly Sadler's op-ed page. | ||
| We wouldn't know how to do it. | ||
| Thank you, Dr. Navarro. | ||
| By the way, Brad, we've still got to go through Krugman's response on de-dollarization. | ||
| Also, two massive pieces last week that I haven't had time to get into, but $2 trillion wiped off of the middle class in your net worth because of the Bidenomics policies. | ||
| In addition, I think it's 20% of the houses in the country, something like 20% of the houses in the country are underwater. | ||
| Right now on your mortgages because of the rising interest rates and the drops in value. | ||
| We'll tie it all together as we do here. | ||
| The talk tomorrow with Dave Bratt. | ||
| Hopefully Dave Bratt will be freed up tomorrow. | ||
| And all this is on this focus on this road to Durban. | ||
| The de-dollarization movement continues with those countries in the world that control the natural resources. | ||
| And like I said, we're not going to – the end of the dollar empire is not going to be immediate, but it started, and it's going to have a massive implication. | ||
| It doesn't need to happen. There should be a debate. | ||
| Do we need to be the prime reserve currency? | ||
| Absolutely, that should be a debate. | ||
| What we don't need is just to have it collapse on us like it did on Great Britain, like it's done on Spain and other nations in the past because it has catastrophic consequences. | ||
| Mark Mitchell, you're finished now with your poll of the approval. | ||
| Can you walk us through Trump? Today, Trump had another 65 indictments on Trump. | ||
| Trump's going to be indicted everywhere. | ||
| And instead of us being on offense and impeaching Merrick Garland and Chris Wray, we're on our back heels. | ||
| They're all over Trump. | ||
| How's his approval compared to other people? | ||
| Pretty high. Highest national politician. | ||
| And the number came back 52%. | ||
| If you average the last three favorability numbers we have for Trump, it's 55%. | ||
| Biden had a good night last night and pulled out a 46. | ||
| He was at 45% yesterday. | ||
| So Donald Trump is structurally almost 10 points higher than Joe Biden is pulling right now. | ||
| And the real one to me is the independence. | ||
| He's almost 30 points better with independents than Joe Biden. | ||
| I just don't know how that's going to pan out in an election season. | ||
| Donald Trump had 48% favorability with independents, 50% unfavorable rating. | ||
| Joe Biden is sitting at 37 and 60 right now. | ||
| So just astounding. | ||
| They can keep hammering him. It's not going to have any impact. | ||
| What does your crosstabs tell you? | ||
| Are these independents people that are not affiliated with any party, are they the ones looking for change? | ||
| Are they the people that vote for Obama, vote for Trump in 2016? | ||
| They're looking for a change agent? | ||
| I mean, that's an extraordinary number. | ||
| Is it his economic policies? | ||
| Is it border policies? | ||
| Immigration? Why is this huge gap with Trump's really massive approval among independents? | ||
| They're really a search volume of pretty much everything. | ||
| They're the grab bag of people that don't identify specifically as Democrats or Republicans. | ||
| And it changes from time to time. | ||
| What we've seen a lot over the last couple of years is independents are more and more conservative. | ||
| And whether that's because they're objective and independent-minded people who are waking up to realities around them, or whether it's people who no longer want to affiliate with the Republican Party on a lot of issues, maybe not as much the social issues, but on a lot of other kitchen table things, the independents are almost lockstep with Republicans right now. | ||
| Now, that's not to say they're entirely a conservative group. | ||
| There are a lot of Single-issue progressives, a lot of just people that hate all politics, and quite frankly, a lot of normies that may not follow the news as much too. | ||
| But it's a big deal. | ||
|
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We're going to make sure everybody – this is massive. | |
| This is massive, and it shows you – And by the way, he gets indicted every other week. | ||
| So it shows you that in the face of that, the American people know something going up. | ||
| I'm crushed for time, but you had another poll out this morning. | ||
| And here's why it's so amazing. | ||
| The poll you have on media, if you can just talk about it, because Bob Iger, just before you came on, Bob Iger is out at the billionaire conference in Sun Valley, you know, with Murdoch and all these other billionaires. | ||
| And he just announced in an interview that he's open to selling ABC News. | ||
| I think he said because the business model is not working. | ||
| That dovetails directly with this. | ||
| You've got new polling out that plays up to my point in a fourth turning institutions and this is the institutions of broadcast news and other news organizations is in collapse. | ||
| At the same time, Iger is just a cold-blooded businessman saying, hey, I think ABC, which is the biggest deal Disney, you know, Disney really made itself with buying ABC. He says that could be on the auction table. | ||
| We know CNN's on the auction table right now. | ||
| What does your polling say what people think about these institutions of news? | ||
| I think mainstream media is beclowning themselves and I think I have the numbers to prove it. | ||
| And as you point out, we asked this set specifically because it seems like a loose cannon at ABC News who owns FiveThirtyEight decided that they wanted to come over after us specifically for maybe some of the outlets that we come on to disseminate our polls, which in my view has absolutely nothing to do with our methodology and the way that we run our business. | ||
| But what we asked is which one of the following news organizations do you trust most? | ||
| And out of a list that includes the big three cable nets, MSNBC, CNN, and Fox News, and the big three TV networks, ABC is safe from coming in dead last by a mere 0.5%. | ||
| Only 7% of Americans trust ABC News the most. | ||
| And what I thought was funny is that who won is the none of them response. | ||
| So a lot of these people are taking this poll on a landline phone and they waited all the way to the end and said, no, I don't trust any of these people. | ||
| But the most damning one is we asked – yeah, go ahead. | ||
| Well, you got CBS at 6 percent. | ||
| I think ABC at 7 percent. | ||
| What is NBC News? | ||
| NBC was seven. | ||
| So the top Fox came in second behind none of them. | ||
| MSNBC and CNN are tied roughly at 12 and 13 percent. | ||
| Mark, how do people – we got to bounce. | ||
| How do people get to you? I want everybody to go to your site and see all the crosstabs. | ||
| Yeah, the big one that they can come and look at is we asked, is the problem of bias getting better or worse? | ||
| And the numbers are worse than they've ever been. | ||
| Come to Rasmus underscore Poll at Twitter. | ||
| Mark Mitchell, thank you for being on here, brother. | ||
| We'll go into more of this later in the evening show. | ||
| Short break, Joe Allen and Elon Musk next in the world. | ||
|
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The first part of this issue that should be articulated is AI is kind of a fancy thing. | |
| First of all, it's two letters. | ||
| It means artificial intelligence. | ||
| But ultimately what it is, is it's about machine learning. | ||
| And so the machine is taught. | ||
| And part of the issue here is what information is going into the machine that will then determine, and we can predict then if we think about what information is going in, what then will be produced in terms of decisions and opinions that may be made through that process. | ||
|
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I talked to Elon Musk the other day, and he thinks we'll get things more intelligent than us. | |
| And what he's hoping is they'll keep us around because we'll make life more interesting. | ||
| If you have a world without people in it, or without animals in it, it's just not as interesting as a world with people in it. | ||
| That seems like a pretty thin thing to rest humanity on to me. | ||
| On the China front, you know, I'm kind of pro-China, and I know this makes it sound like, well, do you have all these vested interests in China? | ||
| I'm like, I have some vested interests in China, but honestly, I think China's underrated. | ||
| I think the people of China are really awesome. | ||
| And there's a lot of positive energy there. | ||
| And I think they kind of want the same things that people in America do. | ||
| That's not to say that there aren't some very significant disagreements, and there's obviously going to be a significant challenge on the Taiwan question, like a very significant challenge. | ||
| I do have this theory about prediction, which is that the most entertaining outcome, as seen by a third party, not the participants, is the most likely. | ||
| That's not necessarily the best thing for those involved in it. | ||
| Like you could be watching a World War I movie while people are getting blood pieces while sipping a soda and eating popcorn. | ||
| Not so great for those in the movie, but it is entertaining, which does suggest that things are probably going to get hot in the Pacific. | ||
| So hopefully not too hot, but things are going to get hot. | ||
| And hopefully we can get past that and get to... | ||
| A positive situation for the world. | ||
| Aspirationally, we're all on team humanity. | ||
| It's going to get spicy. The most concerning thing is probably the Taiwan question over the next three years, and then probably three years after that is the... | ||
| I would be surprised if there is not... | ||
| If this was a Netflix series or something, I'd say the season finale would be a showdown between the Western China and the series finale will be AGI. The advent of AGI is often referred to as the singularity. | ||
| A singularity is like a black hole. | ||
| You just don't know what happens after that. | ||
| We are on the event horizon of the singularity of digital superintelligence. | ||
| Definitely one of the most interesting parts of all of history. | ||
| Okay, wow. That was last night on Twitter. | ||
| We followed that here on Getter on our War Room sites. | ||
| But I'm bringing Joe Allen. | ||
| And this is why everybody needs the book Dark Eon. | ||
| It comes out 29 August. | ||
| Joe has spent a year working on this. | ||
| You know he's been our editor here for a couple of years on Transhumanism. | ||
| This book will be kind of your roadmap and your go-to to understand exactly what's going on. | ||
| A lot there. I could get into the China piece, and I will, because I call him out, and I've called him out, and he doesn't like being called out, but he's a running dog for the Chinese Communist Party, and he has the maturity of about a nine-year-old. | ||
| I used to thought he had the maturity of an 11-year-old. | ||
| He's got the maturity of a nine-year-old. | ||
| But the scary thing, and what I want you to focus on, let's leave the China situation outside. | ||
| He's a running dog. He's bought and paid for by the CCP. 100%. | ||
| Not even a question. And he won't deny it. | ||
| But... As bad as that was in this Twitter space last night, Joe Allen, talk to me about the singularity, the event horizon, artificial superintelligence, because, correct me if I'm wrong, I think I saw this thing pulled up to where you and I have been making the case that this is upon us, and I think Elon Musk backed us up last night by that. | ||
| Did he not, sir? Steve, it was actually really surprising to me. | ||
| I mean, maybe a year and a half ago, he did an interview with Business Insider in which he talked about Ray Kurzweil's predictions being overstated and that he saw a much slower, more gradual process towards the singularity. | ||
| That was like a year and a half ago, maybe less. | ||
| Now he's saying five to six years before superintelligence, and he's basically, it's not everyone doesn't do that, but he's basically conflating the idea of superintelligence, artificial general intelligence, and saying that that is the singularity. | ||
| So a couple of things are going on there besides the aggressive timeline. | ||
| Number one, yesterday was the day that he announced the sort of mission of XAI. XAI is his new AI company. | ||
| He's brought in a lot of different people, a lot of top talent from Google, especially Google's DeepMind, from OpenAI, from Microsoft, and a number of other very successful startups. | ||
| All of them are very accomplished. | ||
| All of them have landmark publications to their name. | ||
| And then he brought in Dan Hendricks from the Center for AI Safety. | ||
| And I cover Dan Hendricks in my book. | ||
| I cover Elon Musk a lot in my book. | ||
| And I think that this change in his opinion, there's two different motivations. | ||
| One, by putting forward the aggressive timeline of a dangerous singularity and positioning XAI as the safe version of it. | ||
| It incentivizes people to support him. | ||
| But the second, on the broader landscape, there is an AI arms race that is definitely racing forward. | ||
| Just this week, three things. | ||
| You have Claude II coming out of Anthropic, which is highly advanced. | ||
| And it also immediately was able to be jailed. | ||
| There was a jailbreak that was shown to give people recipes for nuclear weapons and things like that. | ||
| So the sense of danger is in the air. | ||
| Then you also have Gemini, which is a multimodal AI from Google, basically a precursor to artificial general intelligence. | ||
| And then you also have Cosmos II, Another multimodal AI from Microsoft. | ||
| And that's not to mention all the other startups. | ||
| And that's certainly not to mention Tencent, Baidu and other Chinese companies. | ||
| Joe's going to join us back at five o'clock. | ||
| We're going to take more time to go through this because the talking about... | ||
| The AGI singularity part, because singularity is more than that. | ||
| But being five to six years, I told you this is going to be a massive issue in the 2024 campaign. | ||
| It's not about deepfakes or anything like that. | ||
| Elon Musk said it's upon us. | ||
| That means before 2030, it's here. | ||
| Joe, real quickly, how do people get the book? | ||
| How do they get to all your writings? | ||
| We've got to bounce. And you're back with us at five. | ||
| Right now, dark eon. | ||
| Transhumanism and the War Against Humanity is up at Amazon for pre-sale. | ||
| We'll be up at Skyhorse Publishing. | ||
| If you want to understand Elon Musk, if you want to understand artificial general intelligence, if you want to understand the concepts of the singularity, and especially if you want to understand the spiritual underpinning of it, that's the book to get. | ||
| Joe Allen, see you back here at 5. | ||
| Great work. Short commercial break. | ||
| Thank you very much, Steve. Big announcement next when we return in the War Room. | ||
| We rejoice when there's no more. |
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