Sept. 6, 2023 - Bannon's War Room
48:38
Participants
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| Speaker | Time | Text |
|---|---|---|
| This is the primal scream of a dying regime. | ||
| Pray for our enemies. | ||
|
unidentified
|
Because we're going medieval on these people. | |
| You're not going to free shot 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've tried 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? | ||
|
unidentified
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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
|
War Room. | |
| Here's your host, Stephen K. Bamm. | ||
| It is Wednesday, 6th September in the year of the Lord 2023, and we're going to be on fire in the second hour. | ||
| By the way, what show in the world Can you get Johnny Cash, Big Pun, and Hank Williams all within 30 minutes and still go to the border of the Rio Grande Valley and get Tiffany Justice on fire? | ||
| Come on. | ||
| Only the war room. | ||
| I want to thank Tiffany Justice for bringing that to our attention, the Cardonas playlist. | ||
| Hometownlocked.com. | ||
| In the economy where it is, remember 80 to 90% of your net worth is tied up in your home. | ||
| Do not let a state actor like the KGB or the CCP, now the CCP is building a base down in Cuba. | ||
| Don't let them get into your title. | ||
| And the cyber criminals that are kind of offshoots of all these guys, cyber crimes exploding. | ||
| Add artificial intelligence to it. | ||
| Who knows? | ||
| You can take action. | ||
| Just go to Home Title Lock today. | ||
| HomeTitleLock.com. | ||
| Check it out. | ||
| Immerse yourself in information. | ||
| Check with a spouse, talk it through, see if it's right for you. | ||
| Talk to one of their advisors, one of their consultants. | ||
| HomeTitleLock.com. | ||
| They do not let anybody get their hands on your home equity. | ||
| Impossible. | ||
| You need that. | ||
| Dave Brad. | ||
| Brad, are you paying? | ||
| Do I have to get Dave Walsh on here? | ||
| You have a grid problem in Lynchburg? | ||
| You're not paying your electric bill? | ||
| Or did Divine Providence just decided that, bang, maybe Brad shouldn't hit his mark here? | ||
| So give me the spiritual. | ||
| I'm going to have Stephanie Pomboy up. | ||
| I got plenty of nitty-gritty on the disastrous state of American finances, and particularly the lies of the ruling class to you because you're paying for it. | ||
| Don't think they're paying, you're paying for it. | ||
| With taxes, with inflation it's another tax, and higher interest rates are another tax. | ||
| Wrap it all together. | ||
| How's your life right now? | ||
| Is life good? | ||
| I don't think so. | ||
| Because the elites are feathering their own nest and making more money than they've ever made as the country declines at an accelerating rate. | ||
| Dave Brat, the spiritual war in back of this, sir. | ||
| Yeah, well, the spiritual part goes to the Republican side right now. | ||
| I ran on the Virginia Republican creed. | ||
| It says, we believe, it starts off, we believe in constitutional adherence. | ||
| Equal justice and rights for everybody. | ||
| Faith in God, as our founders and forefathers saw it. | ||
| A free market economy without crony capitalists, etc. | ||
| It's a moral vision. | ||
| Strict constitutional adherence. | ||
| Keeping your border. | ||
| Etc. | ||
| Strong national defense. | ||
| There's six planks. | ||
| I ran on that precisely so that it didn't turn into a personality contest and it wasn't personalized. | ||
| It's here's what we believe. | ||
| And so now when your house members are saying we're going to do major spending cuts when we get to appropriations, that's the rationale they gave. | ||
| Right. | ||
| They gave a promise. | ||
| They gave their word. | ||
| In the beginning of John, the Word, Jesus is the Word, right? | ||
| The Word was with God. | ||
| The Word is God. | ||
| Keeping your word. | ||
| The importance of words. | ||
| Do not bear false witness. | ||
| Call your congressmen and women and say, will you keep your word? | ||
| This is morally central to our way of life. | ||
| When your representatives continually, right? | ||
| When I was in Congress, oh, we'll get to it once we win the Senate. | ||
| Then we'll get to it once we get the White House. | ||
| There's always an out clause, but that wasn't given ahead of time when they make the promises. | ||
| So right now, McCarthy, huge pressure on him. | ||
| He's got to live up to his word. | ||
| He said, let us through the debt ceiling increase. | ||
| He did a $7 trillion budget this year, $2 trillion deficit ongoing for the next 10 years. | ||
| That's $20 trillion in additional debt, culminating in $50 trillion in debt in 10 years, where interest payments at 5% will be $2.5 trillion. | ||
| When I was in Congress, the whole budget was $5 trillion. | ||
| Interest payments alone are going to be $2.5 trillion. | ||
| You know there is a default coming. | ||
| The question is, who pays the default? | ||
| You think they're going to clip the wings of the bondholders and the rich? | ||
| I don't think so. | ||
| They're going to create some sort of inflation, print more money, debase the currency even more than it already has been. | ||
| And that's the moral future for our kids, right? | ||
| Ten years, Social Security, Medicare, done. | ||
| But as we've said on this show, you first have to show some goodwill and keep your word on the budget. | ||
| We have to rein in the budget spending. | ||
| We're bankrupting our future. | ||
| And by the way, I have a chart. | ||
| Hang on, are we prepared? | ||
| I have a chart, but just... | ||
| Okay, go ahead. Before you show your chart, hang on a second. | ||
| You talk about words. | ||
| I just want to make sure. | ||
| Blinken is over in Ukraine. | ||
| Took the train from Poland. | ||
| He just said this morning, one of the reasons he's there, he needs to show Zelensky and this group of crooks over there, because New York Times just had the story over the weekend, said, where's the money? | ||
| This is why the defense minister is gone now, the spring offensive of a non-starter. | ||
| People are looking around like, where are the weapons? | ||
| Where's the ammo? | ||
| What happened here? | ||
| Where's the money we gave you? | ||
| Blinken goes over. | ||
| And I want people to remember Todd Bensman and his footage down in the Rio Grande Valley. | ||
| Just remember that. | ||
| Put that in your mind. | ||
| These words, he says, we have to show that we're committed to the Ukraine for Ukraine's sovereignty, for their territorial integrity and their self-determination of Ukraine. | ||
| Where is that? | ||
| Those those are words right there by the secretary of state who's never been to the southern border. | ||
| Remember, the State Department has a huge role here because they're gaming the asylum system. | ||
| Do we have sovereignty, territorial integrity, or self-determination of our southern border? | ||
| And now it's all over the country because every state's a border state. | ||
| Every city's a border town. | ||
| Dave Brat? | ||
| No, I mean, it's just obvious. | ||
| Benjamin and all your guys just do a phenomenal job showing the border attack. | ||
| And it's not like you said, it's not just letting people in. | ||
| We're giving folks that come across our border more income per month than we're giving people on Social Security and Medicare. | ||
| Let that sink in, right? | ||
| And it all comes back to the fiscal house being in order. | ||
| We can't afford any of this, right? | ||
| If money's unlimited, like it is in this $7 trillion budget, then okay, you can blow cash how you want. | ||
| But where's the real underlying problem here? | ||
| Denver, if you want to just put up that productivity chart, I came across a chart by Ernst & Young. | ||
| It shows since the 87 or so, Private sector productivity's gone up a bit, like 1%, right? | ||
| But the shocker is government productivity has actually decreased since 87. | ||
| And this, you pointed out earlier, right, is correlated with all the new tricks in our bag. | ||
| The United States does not have productivity. | ||
| Now we have $7 trillion to the government with decreasing productivity at max 0.5, but negative at times. | ||
| And so we're blowing cash, and we're throwing it at the government, and the kids aren't going to have a functioning economy to work with anymore, unless we reverse that trend. | ||
| That's why it's incumbent. | ||
| Everybody calls their congressman, their congresswoman. | ||
| We have to get real spending cuts, and they need to be in the trillion-dollar range, minimum. | ||
| Our original agreement, Russ Vought, was $17 trillion in cuts over 10 years. | ||
| Then the Freedom Caucus, $4 trillion. | ||
| And then McCarthy goes up and no cuts. | ||
| So we're spending $7 trillion a year and the money, that's all going to the government. | ||
| And there's your government productivity chart. | ||
| The government sector, almost by definition, is not productive. | ||
| They can't account for where the weapons are, you just said. | ||
| Hard to have productivity when your inputs, weapons, don't have any output, any discernible effect on anything, and the war is misspecified in the first place as well. | ||
| So it's a huge moral indictment of our current leadership. | ||
|
unidentified
|
The Congress never came forward to challenge the war footing either. | |
| The donors, we haven't forced him to come. | ||
| We haven't forced Biden to come and give a plan. | ||
| The War Powers Act, none of it. | ||
| Because they don't want to. | ||
| They know it's no plan. | ||
| They just want to dump the money in. | ||
| I want to end on your assessment of this. | ||
| What they're telling people behind the scenes is that, oh, no, no, no, no, you can't let the crazies, you can't let Gage, you can't let Rosendale, you can't let these people, you know, sit there and say, we need cuts and we need cuts now. | ||
| Enough happy talk. | ||
| Because if Biden regime shuts down the government, they'll blame these hardcore hardline MAGA Republicans. | ||
| And the economy's about to tip in anyway, and we'll get blamed for it. | ||
| Because this is where you've got to make a moral decision of what to do. | ||
| Dave Brat, they're going to put that jam in there. | ||
| Don't do this because you'll get blamed for shutting down the economy by forcing the regime to shut down one minute after midnight on the 30th of September, sir. | ||
| Your thoughts? | ||
| You dig in right now or it's over. | ||
| This is it, right? | ||
| We have the debt ceiling leverage, $50 trillion in debt. | ||
| The rest of the world, you always highlight the BRICS countries are forming an alliance because they know we're not going to pay back the $50 trillion, right? | ||
| Get your congressmen and women on the phone today and the senators. | ||
| I really just don't like any trade-off. | ||
| The border, they'll flash the shiny object, they'll say we'll do something, maybe impeachment, etc. | ||
| That still does not get rid of the major problem that D.C. | ||
| is running your life because we just gave them another $7 trillion. | ||
| Tiffany and Tina do outstanding work. | ||
| Education is another problem, right? | ||
| We just throw money at it with no restrictions, that you ought to teach Johnny and Mary how to do reading, writing, and arithmetic. | ||
| That's a moral failure. | ||
| Education has been at front and center of the Judeo-Christian class. | ||
| Just give a heads up, just give a heads up to not just the classical Christian and Catholic schools, but to the homeschool moms. | ||
| At Liberty, the kids that come there, what percentage, and to be blunt, how far ahead academically, even from the best prep schools, the best Catholic schools, the best Christian, the best secular prep schools, how far ahead when the parents actually have to get engaged and teach them themselves, how far ahead are the homeschool kids, sir? | ||
| Well, they're way ahead because they learn what they're aiming at in the first place. | ||
| They're aiming to glorify God, which is the highest good possible. | ||
| And when you know what you're aiming at, then you align the rest of your studies, which used to be called the liberal arts, the trivium and the quadrivium, and all the major courses in history and So again, you get back to key words like the truth. | ||
| It's the cornerstone of biblical wisdom. | ||
| It's the cornerstone of the Judeo-Christian West. | ||
| It should be the cornerstone of education. | ||
| If you're not pursuing truth in education, I'd like to know what you're pursuing. | ||
| And Tiffany and Tina, you know, please support them. | ||
| Everybody listen and they need your support because they're taking their lumps and it's heroic what they're doing for this country and for you. | ||
| Dave Brett, how can people find, you're putting up great material all the time. | ||
| How do people, where do people go? | ||
| Yep, Liberty University. | ||
| Come visit anytime. | ||
| And I'm always up on Rumble on these clips right here and sometimes on some other friends. | ||
| And then Brat Economics on Getter will have the charts up today. | ||
| I'll have that government productivity chart and there's a great China chart. | ||
| That's the more short medium term news. | ||
| China's got some six red flags is the name of the article. | ||
| I'll post it at Brat Economics today. | ||
| Go check that. | ||
| All of these are basic charts. | ||
| Please share them with your young scholars out there. | ||
| Get them educated so they can shape their own futures. | ||
| Go to Brad Ekenosh right now. | ||
| I've got the six, I call it six flags over China. | ||
| The Visual Capitals does a great job of putting these things out. | ||
| God, it's a really amazing chart. | ||
| Dave Brat, I think that's one of the reasons that Xi's decided maybe he's not going to make India in the G20. | ||
| He doesn't want to have to sit there and have the rise of India rubbed in his nose as they've turned this thing upside down. | ||
| Dave Brat, Honored to have you on here, brother. | ||
| Pay your electric bill. | ||
| I'm going to get Walsh up there to look at your grid connection. | ||
| Make sure we hit your mark next time. | ||
| Good, good. | ||
| I will, brother. | ||
| Thank you, Dave Brat. | ||
| Okay, we're going to take a short commercial break. | ||
| We're going to stick with macro. | ||
| In fact, we're going to have the macro maven join us and walk us through exactly where we are. | ||
| As a country, as your community, yourself, your family, where are we in this economic cycle? | ||
| Stephanie Pomboy joins us the macro maven next in the war room for the games you want to play. | ||
|
unidentified
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Bring it on and I will fight to the end just watch and see. | |
| It's all started, everything's begun, and you are over. | ||
| Cause we're taking down the CCP. | ||
| Spread the word all through Hong Kong. | ||
| We will fight till they're all gone. | ||
| We rejoice when there's no more. | ||
| Let's take down the CCP. | ||
| Stephen K. Bowne and I'll see you next time. | ||
| and I'm gonna be back. | ||
| ABC News, a new story. | ||
| Remember, there's going to be an onslaught here of spin coming out of Ukraine because of the United Nations General Assembly meetings that are going to take place starting next week and through the end of September because they're going to make a huge play there. | ||
| The First Lady of Ukraine saying that the world's turning away from the Ukraine situation. | ||
| Remember, this $40 billion supplement on a $7 trillion $7 trillion already budget, right? | ||
| The $2 trillion now in deficits, which they lied about. | ||
| And we said the very first day that deal was agreed to is going to be $2 trillion this fiscal year, this fiscal year. | ||
| They're now, you know, they're going to put a massive, massive, massive media campaign on. | ||
| And the Biden regime has coupled the $24-25 billion funneled into the churnel house of Ukraine with the With the relief of Maui. | ||
| And we have Nolan Chang going back out there, Jason Jones is out there, we're going to get to the bottom of this. | ||
| The headline in yesterday's, the paper of record for the Hawaiian Islands, the Honolulu Star Advertiser. | ||
| Very respected paper out there. | ||
| The lead story is 1,200, it's not Gateway Pond, it's not Breitbart, it's not Warhol, 1,200 unaccounted for kids in the Maui school system. | ||
| I mean, what's going on? | ||
| You gotta get to the bottom of it. | ||
| Hey, maybe they all moved off the island. | ||
| Maybe the parents aren't sending them, but you would think the parents would check in. | ||
| A thousand of them did. | ||
| Remember, 2,000 didn't show up at first. | ||
| A thousand have, 1,200 haven't. | ||
| So what is going on? | ||
| Also make sure you go to JaceMedical.com right now. | ||
| That no event, whatever it was, and right now Hawaiian Electric says we shut the power off for six hours before the afternoon fire and the morning fire was put out. | ||
| Six hours we cut the power off. | ||
| So you tell me what happened. | ||
| Because there's very little information coming out from authorities about exactly what went down. | ||
| And that's what people are demanding. | ||
| What are the facts? | ||
| What are the facts? | ||
| JaceMedical.com. | ||
| Of course, Dr. Roland and the team were there at first. | ||
| He was one of the aerial, you know, individuals, doctors to help provide initial support. | ||
| So a hat tip to everybody at Jace Medical, but go check it out today. | ||
| JaceMedical.com. | ||
| Stephanie Pombo, you join us. | ||
| We start off with Morning Joe and Ratner. | ||
| You know, Steve Ratner, wannabe Secretary Treasurer, he's the lead partner at Lazard Frere. | ||
| He's supposed to be Felix Roytan's relief. | ||
| He came into a presentation, gets all mixed up in the numbers. | ||
| But basically, that the Trump supporters, what this show is, it's a tribe. | ||
| Of uneducated people with no degrees and that's what they hate the most is that we've made such a drive to make sure that people start to understand the basics of macroeconomics because the system does not want. | ||
| Working class people to understand macro. | ||
| They don't really want them to understand how the economy works, how capital markets work, the intersection between capital markets in the economy. | ||
| And that's why they want they want to obfuscate the budget, all of it. | ||
| But this week, the receipt showed up. | ||
| And on midnight on the 30th, the end of the fiscal year, a $2 trillion deficit in the Financial Times of London, the Wall Street Journal, CNBC, Bloomberg, both the print edition of Bloomberg and the network, the business section of the New York Times, the business section of the Washington Post, all went along with whatever Biden put out there. | ||
| I've cut deficits, the biggest ever. | ||
| It was all a lie in the business media. | ||
| Trying to pull it over on working class people went along with that lie. | ||
| What is the reality? | ||
| Stephanie, you're the macro maven. | ||
| What is the reality of where we stand as an economy and capital markets, ma'am? | ||
|
unidentified
|
Well, I think your audience understands just like Main Street in general understands far better than Washington, D.C., what the actual state of the economy is. | |
| I mean, they live it every single day. | ||
| Um, you know, I have friends who have real jobs, unlike me, you know, just pontificating about the economy and the markets. | ||
| And they always say to me, well, tell me what's going on in the economy. | ||
| And I turned it right back to them. | ||
| I'm like, no, you run a nail salon. | ||
| You tell me how's business. | ||
| You know, you're a real estate broker. | ||
| You tell me. | ||
| I mean, the fact is that, uh, the people who are living it every day, they get it and they see that their cost of living has absolutely skyrocketed. | ||
| And while wall street and the fed may celebrate the fact that the Manufactured inflation data has come down toward 2%. | ||
| That is offering no relief to consumers out there at all. | ||
| It just means that the price of everything that exploded and is completely usurious is getting slightly less usurious, you know, at a slightly slower pace than it was prior. | ||
| I mean, the screw is being turned just a little less aggressively than it was before, but it's still being turned and it's still painful. | ||
| And as relates to this government deficit, I mean, gosh, don't even get me started here, Steve. | ||
| Obviously we started with a massive spending problem and it's, you know, both a Democrat and Republican problem it seems these days. | ||
| But what's happened in the last couple of months, and we've got a lot of this to come, is that we now have a receipt problem. | ||
| One of the reasons why the deficit has mushroomed beyond the CBO's initial forecast Is that they have a $300 billion shortfall of receipts from their projections. | ||
| Why are receipts slowing? | ||
| These are receipts from individual and corporate taxes. | ||
| So that tells you, that's real data. | ||
| You know, tax receipts is probably the best single economic indicator there is, because no one's paying taxes on revenue they're not collecting, you know? | ||
| So it's a very true and accurate reflection of the economy. | ||
| Hang on, hang on. | ||
| I want to make sure we don't miss this point, and for the audience. | ||
| As we said, they had a couple of whiffs. | ||
| Whiff number one is that they're $300 billion short in tax receipts, capital gains, and corporate cuts. | ||
| Guess what? | ||
| The economy, the real economy is slowing. | ||
| You made a point. | ||
| Manufactured inflation data. | ||
| You know, everything comes out of China. | ||
| Data is propaganda. | ||
| I want to ask you about, you said this is manufactured inflation data. | ||
| But OK, I want to ask you about also the labor, because they've reset now. | ||
| They go back every month. | ||
| I think there's 375 jobs. | ||
| Tell me about the data that the American people are being given on the inflation data and the labor data, ma'am. | ||
|
unidentified
|
I mean, Steve, you and I could go on this for a week or at least I could, because I'm a nerdy economist and I get into all these numbers. | |
| Um, so, uh, the inflation data, you know, they, uh, they weight everything, um, based on a technological advance advancement. | ||
| So they'll tell you that because your car now has automatic windows and you don't have to actually roll the window down like you and I did when we were growing up, Steve, um, that that's massively deflationary. | ||
| So basically any progress is viewed as deflation. | ||
| Um, so they, they have managed through those kind of. | ||
| Um, statistical shenanigans to suppress the level of the reported inflation. | ||
| And of course they've invested interest in doing that because the cost of living adjustment for all the social welfare programs and social security, et cetera, is tied to that measure. | ||
| So not surprisingly, they're going to find every way they can to suppress the, the reported inflation data. | ||
| But as I said, You know, people in the real world are living it, and they know that their prices aren't growing 3%. | ||
| They know that the price of things has effectively doubled since Biden got into office. | ||
| And, you know, just as a side note on that, we've seen a huge rebound in oil prices in the last several weeks. | ||
| I'm looking at my screen this morning. | ||
| We're back over $86 a barrel for crude. | ||
| That's the highest since last November, and it presages Retail gasoline prices that are going to move up probably over $4 a gallon nationwide in a hurry. | ||
| So that's going to be compounding the woes for the average consumer. | ||
| But getting back to the statistical shenanigans, the employment one is one of my favorites, because this number is so fraught with misrepresentation, let's say. | ||
| One reason why it is, is that that monthly payroll employment report includes something called a birth death adjustment. | ||
| And this is something where the BLS goes out and they try to guesstimate how many jobs were created in that month by businesses that haven't yet established a payroll. | ||
| So you started a business and you're just, you know, you haven't yet hit the payroll numbers. | ||
| But so they compute some level of jobs created by those new businesses. | ||
| And that number, even if you read the footnotes in the BLS report, they confess is essentially pulled out of thin air. | ||
| They go back and they look at, well, how many jobs were created this way a year ago based on tax filings? | ||
| And they just assume, well, okay, it's probably about the same amount today. | ||
| So what happens is when the economy is at a turning point, as we are now, I believe, and we're about to tip into recession, those payroll data will tend to overstate the level of employment because they're assuming that you're creating all these same new jobs every month through new business formation that you really aren't because the economy's slowing. | ||
| And in fact, you probably have businesses shutting down, not being created. | ||
| Um, so that's one of the reasons why these numbers end up having to be revised. | ||
| And we saw that big revision that you mentioned, Steve, the 300,000 plus revision. | ||
| And I think that's just, that was a preliminary revision. | ||
| And I think when they do the final revision, it'll be substantially larger than that. | ||
| Stephanie, if you can just hang with us through the break. | ||
| We're going to take a short break, but I just got to ask you one question. | ||
| We've got about a minute. | ||
| Why did the business media go along with this? | ||
| The revered Financial Times of London, the Wall Street Journal, the Business Section of the New York Times. | ||
| Why did they just go along and not be calling this out? | ||
| Why does it take a working class show like the War Room to call them out? | ||
| Why did they go along with the manufacturing inflation data and the manufacturing jobs? | ||
| It was obvious that this was propaganda, not data. | ||
| Stephanie Pomboy. | ||
|
unidentified
|
Well, I think the reason they do it, and it's a cop-out in my view, is that this is what the Fed looks at. | |
| So the bigger question is, why does the Fed hang its hat on employment data that everyone knows is completely fraught with all kinds of issues? | ||
| And the same with the inflation data. | ||
| I mean, they should know better. | ||
| And so, you know, it's a cop-out for the financial media that they do that. | ||
| But they can, in their defense, say, look, you know, we're just trying to look at what's going to drive monetary policy. | ||
| And these numbers apparently are the ones that the Fed is clinging to. | ||
| And, you know, we could come up with all kinds of conspiracy reasons as to why the Fed wants to look at this data. | ||
| You and I can go on on that next time. | ||
| Hang on for one second. | ||
| Just hold you to the break for a moment. | ||
| I've got one question to ask you. | ||
| Wither thou goest? | ||
| Where do we go here? | ||
| Short break. | ||
| Stephanie Pomboy in a moment. | ||
| I just talked about how the president, the president deficit, it can be, but that's the way it is from year to year. | ||
| It can be volatile. | ||
| That is something the economic economies, the economy, well, talk to an economist and they'll tell you specifically. | ||
| What I can speak to is what the president has done over the last two years is we see the deficit go down by a trillion dollars. | ||
| He spent He signed another piece of legislation where the deficit is going to go down another trillion. | ||
| That is the president's focus. | ||
| That's why we believe binomics is so important. | ||
| Guys, I will see you tomorrow. | ||
| Thank you very much. | ||
| Okay, she was pressed. | ||
| We didn't have time to play. | ||
| She was pressed by one reporter after the other saying, hey, can you explain why this $2 trillion deficit? | ||
| You said it wasn't going to happen. | ||
| What happened? | ||
| And she went back and forth and finally said, ask an economist. | ||
| So Stephanie Pomboy, the macro maven, where are we exactly? | ||
| And kind of, you know, Quo Vadis, where do we go here? | ||
| They've already lied to us. | ||
| It's two trillion dollars. | ||
| This is unfinanceable. | ||
| And this deficit is going to be in perpetuity because now you have a structural issue. | ||
|
unidentified
|
So what should we know? | |
| Biden and these guys are out of control. | ||
| What should the House Republicans and hopefully people in the Senate The adults in the room, what should the adults do in the next three weeks leading up to midnight on the 30th of September, ma'am? | ||
|
unidentified
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Well, I mean, I'm so far afield from the Washington political scene, mercifully, thank the Lord. | |
| But I will say, you know, the cure for all of this, to the extent that we haven't already passed the point of no return, is to go back to all the policies of the Trump administration. | ||
| This all was self-inflicted with a massive spending and then the rampant increase in energy prices, which really is the key issue here. | ||
| The Fed never would have had to raise interest rates this far, this fast, had we not had this massive inflation-led increase in, I'm sorry, energy-led increase in inflation. | ||
| And that's really what's driving this deficit is that the debt service is mushrooming just because we're paying now substantially more interest to service all this debt. | ||
| So this is at this point, it's really hard to rein it in because, as you said, this is going to be in perpetuity. | ||
| But nothing cures a deficit like growth in the economy. | ||
| And you've got to just go back to those pro-business Trump policies. | ||
| Deregulation, not all this incredible heavy regulation and the woke agenda, but deregulation, tax cuts, and most importantly, a real return to domestic energy production. | ||
| I think those are the things that are most important. | ||
| And what the House Republicans can do to advance those is questionable to me, but they got to do everything they can to at least hold back spending. | ||
| So, you know, I'm sorry I don't have a more optimistic message, but I think we're kind of stuck. | ||
| But you said something that's very important, because this is how nations either go to the next level or not decline, but the bottom falls out. | ||
| You said, this is in case we're not past the point of no return. | ||
| What did you mean by that? | ||
|
unidentified
|
Well, I think we may be past the point of no return just because the deficits are so big now. | |
| Even if we had growth in the economy, it would be very hard to grow our way out of them. | ||
| I mean, we really need someone like, you know, a repeat of the Trump policies to get us there, but it would still take time. | ||
| And in the meantime, you know, what's going to happen is that the inability to service debt at these levels, I fear, Is going to find the Federal Reserve going back to quantitative easing where they become the marginal buyer just to kind of put a cap on this explosion in the deficit by suppressing interest rates again. | ||
| And then we have all of the unintended consequences of that, which we're now living through. | ||
| So that's my fear. | ||
| And frankly, you know, Steve, for the average American, I'm much more concerned about the impact of all this on the private sector. | ||
| In Washington, you know, the Federal Reserve is there to print money and service those debts, and they have the power of taxation. | ||
| But the average business doesn't have access to a printing press and the power to tax, and they're struggling with higher input costs and substantially higher debt service. | ||
| And I think we're going to see that come back and hurt the average consumer in the form of massive layoffs. | ||
| I think we're going to go from labor hoarding, which we've seen over the post-pandemic period, to labor shedding in a pretty quick fashion. | ||
| So I think we've got a lot of really tough time in the economy ahead of us that's not going to help the deficit financing and that's going to get the Fed back involved and we're going to keep going around in this stupid circle, exasperatingly. | ||
| Sorry. | ||
| Stephanie, where do people go to find your writings, your analysis, your commentary? | ||
| Where do they go? | ||
| The website, social media, all of it? | ||
|
unidentified
|
Yeah, well, the folks that haven't thrown themselves out the window yet can find me at macromavens.com. | |
| And then they can follow me on Twitter, which is at SPomboy, at SPomboy on Twitter. | ||
| Yeah, that's me with the bulldog. | ||
| So that's where they can find me. | ||
| But thank you so much for having me on, Steve. | ||
| These are interesting times, and I fear they're going to get substantially more challenging in the next few months. | ||
| That you live in interesting times is a Chinese curse, always remember that. | ||
| Stephanie Pomboy, thank you very much for joining us. | ||
| Our audience loves you, so thank you. | ||
|
unidentified
|
My pleasure. | |
| Thank you, Steve. | ||
| Okay, when everybody go hit her social media, let's go to her website. | ||
| What Stephanie was talking about there is what a lot of very smart people on Wall Street are talking about right now, that we're in a closed feedback loop. | ||
| Much like 1938, when the Roosevelt administration had come in and put all these tools in order to try to pack the courts, they had all the massive increase in federal government to try to stop the depredations of the beginning of the stock market crash in the Great Depression. | ||
| And by, you know, they came in in 32, by 34, 35, because of this massive infusion of federal spending, and other things they did, actions they took, things started to look a little brighter, a little bit of employment increased, but then by like 1937, 1938, they were falling back into many of the problems of 1932, and there is a negative feedback loop. | ||
| What Stephanie just told you there at the end is what a lot of people are talking about. | ||
| Just to give you some inside baseball, this is the pressure that's coming on not just the House Freedom Caucus, but for other people in Washington, D.C. | ||
| on the House side that say something. | ||
| We have to have a moment here of clarity. | ||
| We have to have a moment that defines ourselves, defines what we're going to do, because people are saying, oh, no, no, no, no, no. | ||
| This thing is teetering because of what Biden's done. | ||
| It's teetering right on an edge, a knife's edge, and it'll collapse and fall over and the Democrats will get totally blamed for it. | ||
| But if you, the Republicans, try to take action, you try to take action and you force the Biden's hand for the government shutdown, you know, you don't approve a CR, that you're going to get blamed for it. | ||
| That the thing will fall and you get blamed. | ||
| So don't do that. | ||
| Just give it more time. | ||
| Just give them a CR. | ||
| Let's just play the game as it is. | ||
| This is what is a time for choosing. | ||
| This is going to be a tough call and and a lot of fingers are going to get pointed. | ||
| McCarthy, because he's trying to push now the impeachment and get the impeachment, get the heat off him to throw your shiny toy. | ||
| Not that we shouldn't have an impeachment. | ||
| That should start immediately. | ||
| We don't need any more discussion about it. | ||
| They're obstructing justice. | ||
| Biden sold the country out, not just the Chinese Communist Party. | ||
| You can look at all the stuff that's coming up in Ukraine now. | ||
| What's he actually been doing? | ||
| How long has he been involved in Ukraine? | ||
| What kind of money they've been taking in Ukraine? | ||
| Why all these bizarre decisions? | ||
| Why is the sanctity of the Eastern Russian-speaking border Ukraine tantamount to America's vital national security interests? | ||
| Because it's not. | ||
| It's obvious it's not. | ||
| You know, uh, somebody's talking about, uh, oh, you gotta read, uh, the, uh, you know, somebody said the other day, you must read all the histories of World War II so the United States understands what's going on here, what the stakes are in Ukraine. | ||
| Well, in the history of World War II, the leaders of the United States of America, and particularly the military, said under no circumstances ever will we get in any type of land war in places like the Ukraine. | ||
| Not going to do that. | ||
| We're not going to get sucked into land battles in Eastern Europe or the Ukraine. | ||
| So here we stand right now, and this is what this huge fight is going to be, and McCarthy is going to be forced to go to Hakeem Jeffries just like he did. | ||
| Remember, he had more Democrat votes than Republicans, because I think 70 Republicans voted against the debt ceiling deal in the first place. | ||
| So in reaching out to Hakeem Jeffries, because that's what it's going to take to get his CR, Then the moment of truth on the motion of vacate. | ||
| Should he be removed? | ||
| And that is all incumbent to, right, contingent upon what I call a bid away. | ||
| You know, I got a price for security. | ||
| Give me a bid away for that. | ||
| You got a better deal? | ||
| Give me the bid. | ||
| The question is, who will people be comfortable with that could replace McCarthy? | ||
| His reign has been a disaster. | ||
| Nothing's been accomplished. | ||
| These subpoenas should have gone out months ago. | ||
| All the action they're taking now and running around subpoenaing Mayorkas and the Secret Service and Hunter Biden, that's all performative because they should have taken these actions. | ||
| They should have flooded the zone with subpoenas right from the get-go. | ||
| They tried to play patty-cake. | ||
| Not the smash-mouth way the Democrats play. | ||
| Look what the Democrats are doing right now. | ||
| The Department of Justice and the FBI doing to Donald Trump. | ||
| Look at Lawfare. | ||
| Are they playing by any rules? | ||
| They're shredding the Constitution. | ||
| Right? | ||
| All because Trump is increasing in the polls every day. | ||
| And now they got Jack Smith seeing an entry point. | ||
| Jack Smith's going to indict Trump again. | ||
| Going to indict him again. | ||
| This is, I think, for fundraising about the machines or some sort of nonsense. | ||
| They're going to indict him again. | ||
| Because, understand, they don't have enough indictments. | ||
| There's only 700 years in prison to get them to do it again. | ||
| These are what Thomas Paine talked about the times that tried men's souls. | ||
| This is going to be it. | ||
| There are going to be some tough decisions made. | ||
| There's going to be a lot of finger points. | ||
| There's going to be a lot of nastiness. | ||
| But that's why you need the moral clarity. | ||
| You need to think through exactly what we're trying to accomplish. | ||
| And remember, in Burke's dictum, it's not just for the children and grandchildren, it's not just who comes after us that we bequeath this republic to, to a constitutional republic, it's those, what, 13 or 14 generations that have come before us. | ||
| What do we owe them? | ||
| What do we owe those that built this country? | ||
| What do we owe those folks that went through the pain and the agony of building the greatest nation in mankind's history? | ||
| What do we owe them? | ||
| What decisions did they make in thinking about the future? | ||
| What sacrifices did they make in their lives to make sure that this republic was handed down in better shape generation to generation? | ||
| The generation, you might say, the only failure generation we've had, I would argue, If you can even say that, is that generation of political leadership right before the Civil War that didn't figure, didn't think through, didn't come up with a way to avoid that catastrophic conflict. | ||
| And now we're in the same point. | ||
| The generation today, what are we going to do to make sure to make the hard decisions, to have the moral clarity, to have the stones, to actually stand in the breach, stand in the breach and deliver? | ||
| This is why they hate you. | ||
| This is why, because Donald Trump put you in the room and made you a key player. | ||
| Right now, you're the driver of action here. | ||
| Everybody is reacting to where you're driving the country. | ||
| And of course, you're called a Christian nationalist, white nationalist, domestic terrorist, insurrectionist, treasonous, all of it. | ||
| The worst people on earth, the tribe, the uneducated tribe. | ||
| You're going to hear that over and over again. | ||
| Well, you've been educated in the School of Hard Knocks, and you give me the option of being governed by the first hundred people that show up at a Trump rally in a red ball cap? | ||
| Or the top hundred partners combined from McKinsey or Goldman Sachs? | ||
| Give me MAGA. | ||
| Because MAGA, with its humanity, its common sense, its sense of decency, will know exactly what has to happen. | ||
| Short commercial break. | ||
| We're going to return in a moment, in the War Room. | ||
|
unidentified
|
Take down the CCP! | |
| Everything's just beginning But the games you want to play Bring it on and I will fight to the end Just watch and see It's all started Everything's begun And you are over Cause we're taking down the CCP Spread the word all through Hong Kong We will fight till they're all gone We rejoice when there's no more Let's take down the CCP | ||
| Your host, Stephen K. Bannon Go to birchgoldrightnow.com slash Bannon and make sure that you talk to one of the professionals there there. | ||
| Get them up. | ||
| We've talked a lot about the Federal Reserve today. | ||
| That complete and total scam. | ||
| And this is one of the things we got to talk about ending the Fed. | ||
| It has to be on the table as a discussion. | ||
| We have to get control of our currency. | ||
| We can't have an independent organization doing that anymore. | ||
| Can't happen. | ||
| Because it's a tool of the elite. | ||
| Make sure you go to Birchgold right now. | ||
| I've got a new installment coming out in mid-September, but I need you all up to speed. | ||
| You uneducated tribe, as MSNBC is calling you, and Steve Ratner and Morning Joe. | ||
| The non-college, like the college degree is the end all and be all of education. | ||
| Two smartest guys ever met. | ||
| My grandfather went to the third grade. | ||
| My dad, who graduated from high school, well-read, consumed the news, working class, blue collar guys for the phone company. | ||
| A lot smarter than the crowd I went to Harvard with, trust me, or Georgetown or Goldman Sachs. | ||
| Or in Hollywood, or in Washington, D.C. | ||
| A lot smarter, a lot tougher, and had a lot more common sense and basic humanity. | ||
| Birchgold.com. | ||
| Go ask, why is the Fed spending all its time on a central bank digital currency? | ||
| Mike Lindell. | ||
| I just want to be blunt and brutally frank. | ||
| They're trying to put you out of business, and they're trying to put you out of business, not just your support of conservative media, but you've been at the forefront of this effort about what exactly happened in 2020. | ||
| And they have targeted you, the only person in the world targeted more than Mike Lindell's Donald J. Trump. | ||
| You're number two. | ||
| And they feel that they have to put this company out of business and bankrupt you. | ||
| MikePillow.com. | ||
| Tell us how's it going, and I want to know the spirit Well, it's actually beyond belief right now. | ||
| I just was reading about myself and an attack on my pillow just today, again. | ||
| Our spirits are up because every week we get all the great support from the War Room and others. | ||
| So we put everything, you know, first they took away our box stores and they went after our shopping channels, they went after everything. | ||
| And now they go after the call center, they go after my manufacturing, you name it, it's happened. | ||
| But the spirits are up because we, you know, we have faith that we're going to get through this and the attacks someday will stop. | ||
| And in the meantime they're back to making a MyPillow 2.0 that's been such a huge success and they're down there this is we met 100% made in the USA remember it's got the new the new cooling thread and this has been such a success you can buy one get one free right now and It enhances sleep. | ||
| It's all about height and temperature. | ||
| And that is the MyPillow 2.0 with this new technology we found over a year ago and had our own fabric made at MyPillow. | ||
| It's just been amazing. | ||
| So go to MyPillow.com. | ||
| Use that promo code WAROOM. | ||
| Go down to the War Room Square where we have all the best specials there. | ||
| We have the towels. | ||
| These are the kitchen towels that are in. | ||
| We have some of these left in all colors right now, but these are 25% off. | ||
| These are the best kitchen towels. | ||
| They actually absorb. | ||
| What a concept, right? | ||
| Just like our other towels. | ||
| And here's our bath towels. | ||
| They're all in right now. | ||
| 50% off, everybody. | ||
| Using that promo code WARROOM at 30. | ||
| A six-pack set for $39.98. | ||
| We've got the slippers, the all-season slippers. | ||
| We got those for $20. | ||
| I mean, these are our original slippers. | ||
| These are my slippers. | ||
| These are $29.99, I believe, $29.98, regularly over $100. | ||
| And these are, you know, all these, we put these on sale. | ||
| We're putting on all these right now. | ||
| It's like Christmas came early here at my pillow. | ||
| We want to stay busy, keep all my employees busy. | ||
| Here, we're family-owned. | ||
| I mean, we're employee-owned and family, a lot of family. | ||
| But employee-owned, I'm just the biggest stockholder. | ||
| So when they attack MyPillow, they're attacking families. | ||
| They're attacking grandmothers, mothers, fathers, and all their families. | ||
| And you all supporting us, it helps so much. | ||
| There's the MyPillow 2.0. | ||
| There's our anniversary pillows, too, that we're all making. | ||
| Those are $19.98 for the queen size. | ||
| You guys gotta check out on the War Room Square the overstock sale. | ||
| 80% off. | ||
| We're clearing out, making room for the MyPillow 2.0. | ||
| And there, everybody, the MyCoffee. | ||
| I think we forget about that. | ||
| We have the best coffee in history. | ||
| And you can get the MyCoffee here on the War Room Square. | ||
| All those Bible pillows that are for children there that you've got Bible verses on the back. | ||
| Then we have the MyPillow Mattress Topper 2.0. | ||
| We've got our mattresses, bathrobes, sleepwear. | ||
| All our sleepwear is on sale up to 80% off. | ||
| We're doing, I mean, this is stuff, a lot of this stuff I didn't even know we have. | ||
| We have over 200 products now and it's And use that promo code War Room. | ||
| The support, Steve, from your audience has been, I'll tell you, you talk about lifting our spirits when we, it's just helped so much. | ||
| We've always got your guys back. | ||
| Make sure all the people on the factory floor down there understand the War Room Posse's got the back of the MyPillow team. | ||
| Mike, honored to have you on here. | ||
| We're going to fight alongside you guys because you have set an example of selflessness in this fight and honored to know you and honored to be a part of this. | ||
| By the way, Stephen, I was down there the other day. | ||
| There are big fans of you down there and big fans of the War Room. | ||
| They want to thank all of you. | ||
| Hopefully someday you can make it out to the factory. | ||
| I think we've got to set that up. | ||
| Whorum's got to come live from the factory out in Minneapolis. | ||
| We'll work on that, Mike. | ||
| Thank you for being on here, brother. | ||
| MyPillow.com, promo code Whorum. | ||
| Go check it out today. | ||
| Let Mike go back to work as he's under siege there because he stood up to the apparatus. | ||
|
unidentified
|
Okay. | |
| The one and only Charlie Kirk next for two hours here on Real America's Voice, followed by the Jack Posobiec. | ||
| We are back from five to seven and we will be on fire. | ||
| See you back here this afternoon in the world. | ||
| Hank Williams, an American Regional. | ||
|
unidentified
|
I am bound for the promised land. | |
| I am bound for the promised land. | ||
| Oh, who will come and go with me? | ||
| I am bound for the promised land. | ||
| you you For all those wide extended plains shine on eternal days. | ||
| There God the sun forever reigns and scatters night away. | ||
| I am bound for the promised land. | ||
| I am bound for the promised land. |
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