Nov. 7, 2024 - Bannon's War Room
48:51
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? | ||
|
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
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War Room. | |
| Here's your host, Stephen K. Mann. | ||
| There are a lot of people experiencing legitimate pain and sadness and fear right now. | ||
| English writer Evelyn Wall once wrote about a blow expected, repeated, falling upon a bruise with no smart or shock of surprise, only a dull and sickening pain and the doubt whether another like it could be born. | ||
| And after 2016 and its aftermath, that sentiment for maybe half of this country or more feels about right. | ||
| Here we go again. | ||
| Donald Trump now has a real shot at winning the popular vote. | ||
| He is currently leading by 6 million votes. | ||
| Republicans are projected to take control of the Senate. | ||
| And they are the odds-on favorite to take control of the House of Representatives. | ||
| How did this happen? | ||
| Well as we try to begin to answer that, one of the best assessments I have read of the current political climate came from journalist James Pogue in Vanity Fair earlier last month. | ||
| Pogue wrote a profile about Steve Bannon and the movement he and Trump have built on the American right. | ||
| In the piece, Pogue identifies some of the central motivations in the MAGA movement. | ||
| Motivations like a yearning for traditionalism. | ||
| If you followed this election closely, you know what I'm talking about. | ||
| You've seen the term trad. | ||
| Tossed around to describe a movement of conservatives who want to return to what they consider traditional American values. | ||
| One centered around a very retrograde version of the American family. | ||
| 12 point margin. | ||
| They, at the very least, were not put off by this vision of America as a rigid and sometimes violent patriarchy. | ||
| They maybe even supported it. | ||
| People like Steve Bannon and J.D. Vance and Tucker Carlson, the people who have worked to craft Trumpism into a coherent philosophy, they have sought to associate the loss of this kind of so-called traditionalism with the loss that many working families feel in a globalizing economy. | ||
| To them, the end of a male-dominated household and the struggle to get by financially, well, those are natural partners. | ||
| Even before the pandemic, American middle-class wages were stagnating. | ||
| And the very real loss in purchasing power caused by the pandemic gave the Bannons and the Vances of the world something to point to as justification for this belief. | ||
| This is not to say that so-called economic anxiety can explain away our country's embrace of racist and sexist demagoguery. | ||
| In fact, it's quite the opposite. | ||
| Economic anxieties are a key part of an ideology that bemoans the loss of white male power, even as macho white dudes continue to dominate our politics. | ||
| In exit polls, white men without a college degree supported Donald Trump over Kamala Harris by 40 points. | ||
| Voters, including men and women who had served in the military, went for Trump over Harris by 31 points. | ||
| To that end, Pogue identifies another factor that I think motivates the MAGA movement, the reassertion of a white male warrior class. | ||
| As Pogue writes, you'll often hear in conservative circles that America's warrior class, which on the right is often believed to be from ethnically Scotch, Irish, disproportionately Southern families who treat military service as family heritage, That they have been the ones who bled to build our empire and ended up with NAFTA, fentanyl, and a coastal establishment that sees them and their values as backward and dangerous. | ||
| That was a key part of the message crafted by Trump accolades, a way to weave together concerns about status loss and immigration and drug abuse and American militarism into a eulogy for American toughness and an attack on the so-called ruling class. | ||
| That is blamed for its demise. | ||
| As Steve Bannon told James Pogue, America isn't an idea. | ||
| It is a country. | ||
| It is a people with roots, spirit, destiny. | ||
| And what you're talking about, the liberalism and the globalism, real American people are the victims of that. | ||
| Now, most voters were not listening to Steve Bannon's fevered ranting about liberalism and globalism, but they heard one candidate talk about America as a virtuous experiment in self-governance, and they heard the other candidate call America a garbage can, and a majority of them sided with the guy calling this country a garbage can. | ||
| Which brings me to the final element of this election that is probably worth examining. | ||
| The cultural realignment between the left and the right over American institutions. | ||
| Trump's just massively destructive first four years in office forced the American left to become defenders of institutionalism. | ||
| Democrats had to speak up for law and order and for peace and stability and for democracy. | ||
| That was why people like Liz Cheney and her father Dick Cheney, among a handful of otherwise really quite conservative people, it's how they became unlikely partners with Democrats in the fight against Trump's dangerous vision for America and for the world. | ||
| It was the right thing to do, but it had a political cost. | ||
| For most of my life, the American left was the side channeling legitimate frustrations with American institutions. | ||
| Democrats were the ones who pointed out how innocent people could get caught up in America's criminal justice system. | ||
| Liberals and progressive were the ones who called out abuses by the CIA and by America's military-industrial complex. | ||
| But the realignment that happened under Donald Trump meant that Democrats had to cede much of that righteous outrage to Republicans who were trying to tear all of it down. | ||
| And voters who felt frustrated by those issues found their way into Donald Trump's coalition. | ||
| As former Obama foreign policy advisor Ben Rhodes told James Pogue, I think the innovation of the Bannon and Vance project is that it's forced the left to become defenders of the very institutions they're supposed to be skeptical of, like the CIA, like the broader intelligence community, like NATO. Or as Joe Rogan put it in his interview with Trump, that is how Republicans became punk rock. | ||
| The rebels are Republicans now. | ||
| You want to be a rebel? | ||
| You want to be punk rock? | ||
|
unidentified
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You want to buck the system? | |
| You're a conservative now. | ||
| Again, I don't say any of this to endorse these ideas or to chastise anyone, least of all Kamala Harris and Joe Biden, who displayed remarkable and responsible leadership of this country during just enormously troubling times. | ||
| A lot of you listening to this program, including me, would like to not have to think about anything Donald Trump or Steve Bannon or J.D. Vance or Joe Rogan have to say about our country or its people or its place in this world. | ||
| But in order to do that, in order to reach a point where these people are once again far away from the levers of power in this country, we have to begin by understanding how they got there in the first place. | ||
| Okay, Thursday, 7 November, year of our Lord, 2024. | ||
| So the post-game analysis is now going through, and I think they realize the scale of what this audience has brought about, the victory. | ||
| And we're going to do, over the next couple of days, some to make sure that we show you the analytics, to show you the scale of this. | ||
| But right there, that's Alex Wagner. | ||
| Alex Wagner was in Obama's White House, and she's one of the, I would say, the Rachel Maddow. | ||
| She's like Chris Hayes and a little bit of Joy Ann Reed. | ||
| I guess Chris Hayes and Joy Ann Reed are more acolytes of Maddow, who runs the deal. | ||
| But right there, she's taking Pogues, and that's the Vanity Fair story, which I recommend everybody reads. | ||
| And I know that a lot of folks in this audience do not subscribe to Vanity Fair. | ||
| But if you go get the edition, it's the November edition, but I think it's on newsstands now. | ||
| It has a cover story about this by this guy James Pogue. | ||
| He does, I think, a really fantastic job of talking about the war room and talking about what we have discussed and the information we put forward to you, this audience, and actually who this audience is and how it's made itself into an army. | ||
| It's kind of the army that's on Trump's right flank. | ||
| Remember, in every... | ||
| Every war, every battle, you have different ways that you align your forces. | ||
| And we're quite proud to be in the MAGA movement to the right, recover the right on the MAGA movement. | ||
| And right there, she does a brilliant job. | ||
| Even more so in her staff of taking Pogue's article which talks about traditionalism. | ||
| It talks about what we've talked about, the economics of the working class and the middle class that you've heard over and over again. | ||
| But then she takes the flip. | ||
| And this is the important part of that, the most important part. | ||
| The progressive left Became the defenders of the indefensible. | ||
| They became the defenders of the institutional rot. | ||
| The problem with our system, the problem we have is not just individuals. | ||
| It's just not that Comey is a bad guy. | ||
| It is not simply that Merrick Garland is a bad guy. | ||
| It's not simply that you have bad people in these positions of power. | ||
| We have a structural problem. | ||
| We have a problem of kind of architecture and engineering. | ||
| We have a systems problem. | ||
| The reason that the lived experience of the American citizen... | ||
| Is not the best and that the lived experience of the American citizen is bad because of globalization and everything that's happened in these foreign wars and the building of the American empire is that the oligarchs that control the American empire control the institutions of the American empire. | ||
| Which were totally complete opposite of what the revolutionary generation fought for. | ||
| The exact opposite of what the framers fought for. | ||
| Hamilton may be a slight exception to that. | ||
| And I will go through that in the next couple of days. | ||
| But the greatest generation, the ones that went to the battlefields, Because remember, they weren't the decision makers. | ||
| They were the cannon fodder but fought so valiantly and so bravely and were a leading part of and participant in the destruction of the Nazis and fascism and imperial Japan imperialism. | ||
| They didn't support this. | ||
| This is all a post-World War II construct. | ||
| Now, we had Tucker on here the other day, and Tucker's going through some spiritual awakening. | ||
| He's talking about demonic forces. | ||
| He's talking about the darker forces in the world. | ||
| He goes back to the Trinity Project, and he even takes it back for that, the bringing of nuclear weapons and what nuclear weapons meant and how that tied into the American Empire. | ||
| But the American Empire was also not just military. | ||
| It was an economic... | ||
| What is called the neoliberal neocons. | ||
| And what that is is that the FDR's administration understood that unfettered libertarian capitalism is just not going to work. | ||
| That you need structures around capitalism. | ||
| And that's what market reforms, that's what became the neoliberal part. | ||
| The neocon part was the building of the military aspects and the intelligence aspects and then the law enforcement aspects. | ||
| Of the empire. | ||
| Exactly what the framers didn't want us to do. | ||
| And as this spread globally, what the leaders of that, many of whom came from working class and middle class, I went to Harvard, one of the factories where they take working class kids and middle class kids, at least some percentage of them, and they stamp you, boom, you get your union card, and you go in and become a foot soldier in the globalization army. | ||
| And that built up an empire that not just our framers, in our very original DNA of this country, of this country, it then worked for the oligarchs. | ||
| It worked for these institutions. | ||
| The left has become the defenders of these institutions that are clearly corrupt and And need to both have purges and also need to be reconstructed. | ||
| The intelligence community, the Department of Defense, the military, the DOJ, the FBI, the whole law enforcement, the courts. | ||
| These judges are out of control. | ||
| A lot of these judges are out of control. | ||
| You can see this on the attacks of Trump and the MAGA movement. | ||
| And President Trump is back like an avenging angel. | ||
| We have a long and difficult struggle ahead of us. | ||
| As I've been saying, Tuesday is so important, but it's just another marker on the road of this journey. | ||
| Short break. | ||
| I'll return in a minute or two, and we'll continue this discussion. | ||
| An aspiring authoritarian. | ||
| I mean, the guy does not have a democratic bone in his body. | ||
| He tried to overthrow the constitutional order of violence. | ||
| We all saw it happen on national television. | ||
| He celebrated, talked about using political violence repeatedly in his campaigns. | ||
| And because of all that, we know they're going to try to do things to subvert and alter the constitutional order. | ||
| But the most important thing to those of us who are committed to stopping them is to remember their success is not foreordained in any way. | ||
| They're going to try, and there are going to be a lot of people who try to stop them. | ||
| And the outcome of that is as yet undetermined. | ||
| And I'm not saying this from some place of airy hope. | ||
| We've been covering Trump since 2015. | ||
| We covered his first term. | ||
| He tried to do lots of bad things and failed to do them. | ||
| Because he is completely distractible and inconstant. | ||
| Because he's a vortex of chaos. | ||
| Because he cannot be stopped from doing stupid self-destructive things all the time. | ||
| None of that changed because he won an election. | ||
| They're all the same people. | ||
| He's the same guy. | ||
| Are Republicans better prepared this time? | ||
| Are they more loyal? | ||
| Is the judiciary more in their favor? | ||
| Yes, yes, and yes. | ||
|
unidentified
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With much of what you all have said, the only piece that I think is missing is what I think is essential for us to figure out how to manage this period, which is we have to engage in a forensic examination of how we got here. | |
| And that forensic examination compels us to confront issues that we, progressive people, and also just people who support democracy have not sufficiently dealt with and confronted. | ||
| Obviously, you know, for me, one of them is ongoing racism and white supremacy, which is such a part of this country. | ||
| And it has been kind of the gateway drug. | ||
| Trump couldn't have come to power without it, without making appeals to our ongoing flirtation, encounter, embrace of racism and white supremacist ideology. | ||
| And every time he wasn't stopped, every time we treat this as though it is not a deal breaker for leadership in this country, we open up the door to the danger that Trump has represented. | ||
| OK. | ||
| This is going to continue. | ||
| I want to go back. | ||
| There are a couple of moving pieces here, and I need this audience to... | ||
| Begin to understand the framing of this and the architectonics of how we do this because we're going into the next phase. | ||
| I told you that if you did your job and what you did was incredible, unique in American history. | ||
| And you see this. | ||
| It's not me saying that. | ||
| It's the Financial Times of London. | ||
| Look at that. | ||
| Look at this cover story. | ||
| Trump is back. | ||
| Resounding triumph seals improbable comeback. | ||
| Well, it wasn't improbable. | ||
| It's not improbable. | ||
| Suck on that financial time. | ||
| It's not improbable. | ||
| It's completely logical. | ||
| And it's the one that had to happen. | ||
| The New York Times just went, oh, I love this. | ||
| We're going to frame this. | ||
| Trump storms back. | ||
| Look at that. | ||
| Trump storms back. | ||
| New York Times. | ||
| You think the Salzburger family and you think Maggie Haberman? | ||
| Think Maggie Haberman liked doing that? | ||
| Rupert Murdoch's Wall Street Journal. | ||
| Trump triumphs again. | ||
| Republican for his first in more than a century to reclaim the White House after losing it. | ||
| He didn't lose it. | ||
| Wall Street Journal. | ||
| They stole it from him. | ||
| And the math... | ||
| I'm getting a lot of blowback from my staff at the math. | ||
| They're 12 million votes short. | ||
| Where are they? | ||
| They stole it in 2020. | ||
| We have to have an investigation of that. | ||
| So number one... | ||
| It's for you to fully understand what you have delivered here as the vanguard of this movement and to fully appreciate, I think, what you have accomplished through your efforts and through your work. | ||
| From the agony and uncertainty Of post-3 November of 2020, when many of you had first started listening to the show and started coming to the show because there was a ray of hope. | ||
| Everything happened on January 6th and then everything happened on the 20th of January 2021 when Boris was on the tarmac and called into the show as we ended the show and then shifted to coverage of Real America's Voice coverage of Biden's inaugural. | ||
| Remember with like 10 people out there in the grass? | ||
| And at Andrews Air Force Base they played the Frank Sinatra song. | ||
| And there were very few people out there and no power players. | ||
| Very few power players. | ||
| People abandoned him. | ||
| And the abandonment got worse in Mar-a-Lago afterwards. | ||
| The people that would go down, like McCarthy and these people, would be there to make sure he wasn't coming back. | ||
| To try to mollify him. | ||
| To try to keep him a lion in winter. | ||
| But this audience... | ||
| Let him know that if you have the courage to do this, if you will do this, if you will return from Mar-a-Lago to right this grievous wrong, if you will return and show the world the warrior courage that you have, we will have your back every step of the way. | ||
| And that was accomplished. | ||
| It was accomplished in the media and everybody that we did this in plain sight. | ||
| We didn't hide anything. | ||
| And to build the broader coalition and to talk about African-American, talk about Hispanics, talk about the Rio Grande Valley, show everything that was coming up from Central American for, you know, Ben Burquam, Todd Bensman. | ||
| Oscar Blue Ramirez, all the great reportage down there to show it every day. | ||
| Then to show what's happening in the country. | ||
| This is one of the reasons we did We Build the Wall. | ||
| What was the theme? | ||
| The tagline I put up there, every state a border state and every town a border town. | ||
| We knew it was going to happen in New York. | ||
| And all this happened. | ||
| And always underpinning what Alex Wagner there is talking about, the economics of it. | ||
| But we have not saved this republic. | ||
| We have not saved this country yet. | ||
| It has taken us many, many, many decades to get here. | ||
| And the reality and the reason that so many of you are so motivated, I use my kid sister as an example because my kid sister, I'm not sure she read a book until she was 30. | ||
| And I say this as one of the people in my life, my brother and sister, besides one of the people closest to my life, she is a warrior now. | ||
| She was doing 20 hours a day. | ||
| I mean, she's like a grace level, levels of madness, of just intensity down in North Carolina, working, working, working. | ||
| Because she's had a great awakening that, hey, she had been not a big part of the Republican Party, but a volunteer and walk and did all the kinds of things. | ||
| And she sees that what the Cheneys represented is wrong and evil. | ||
| And hurt this country as much as the progressive left and she supported that. | ||
| And worked for it and gave it money. | ||
| As many of you have. | ||
| But that awakening It has brought this victory, and now we will go through the scale of it. | ||
| The scale of it, you have so many compatriots that have now joined you and now have seats at the table. | ||
| Everything from amazing entrepreneurs in Silicon Valley to the Hispanics in Rio Grande Valley to black men in places like Philadelphia and New York City and Baltimore and Atlanta and Detroit. | ||
| What we have to understand now, and there's no rest for the weary, is that, hey, the resistance has already commenced. | ||
| And the people that are aligned against us, that support the Empire, support the Dark Star, are among the most sophisticated and smartest people on this planet and in the history of this country. | ||
| Don't think they're dumb people. | ||
| People said, oh, these liberals are so dumb. | ||
| Remember, in what they're trying to protect and what their project is, they've had a pretty good run. | ||
| Here's how good a run they had. | ||
| The established order had such a good run that, hey, 80% of this audience, including myself and my sister and my brother, all of it, the Bannons, we were kind of supporters of it. | ||
| Right? | ||
| For a while. | ||
|
unidentified
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Right? | |
| But Alex Wagner gets to it and it kind of... | ||
| The gee whiz... | ||
|
unidentified
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The gee whiz... | |
| Wow! | ||
| They're supporting the institutions. | ||
| Yes, Alex, you are supporting the institutions. | ||
| And if your producers had watched War Room, we've hammered this every day for four years. | ||
| You support in the cheerleader for the established order. | ||
| And the established order... | ||
| It's built upon the essential quasi—this is why I call people Russian serfs. | ||
| This is why in the Vanity Fair, I said peasants. | ||
| You treat the American citizen as a Russian serf. | ||
| You treat them as a peasant. | ||
| And finally, the people with pitchforks and the peasants said, we've had enough. | ||
| And many came to our side because they saw what you and your network and your correspondence and all that. | ||
| I haven't seen, by the way, on MSNBC, where all those legal people every day all over you on Trump is evil and Trump is going to prison and Trump is guilty of these felonies. | ||
| It blew up in your frickin' face. | ||
| Because working class blacks and Hispanics that have to take the jack boot on the neck all the time said, hey, you know what? | ||
| I don't know about this Trump guy. | ||
| I haven't paid much attention to him, but I see what they're doing to him. | ||
| Get them all out tonight. | ||
| Chris Hayes, Rachel Maddow. | ||
| Come on, baby. | ||
| Give it to me. | ||
| Where are they? | ||
| Jack Smith's running for the hills. | ||
| Mershon's now saying, I think I'm going to toss them all out. | ||
| Where are you that Trump's a criminal and Trump's guilty of rape and Trump's guilty of economic pillage and Trump is an insurrectionist? | ||
| Suck on this. | ||
| He's none of those things. | ||
| You weaponize the apparatus, yes, when you not just defended the institutions, Alex Wagner. | ||
| Don't sit there like the little cheery cheerleader. | ||
| Not, oh, we're in this position, we have to defend the institutions. | ||
| No, you weaponize the institutions. | ||
| And you were part of it. | ||
| And your staff was part of it. | ||
| And the senior people at MSNBC and the people that own NBC were part of it. | ||
| And the Washington Post and the New York Times. | ||
| Because they understood in the old playbook, we will take out Trump. | ||
| And once we take out Trump, this movement will just fritter away. | ||
| What does not kill you makes you stronger. | ||
| The central part of our movement is resilience. | ||
| You can kick us to the curb. | ||
| You can stomp us. | ||
| You can beat us in a battle, but you can't win the war and you will not win the war. | ||
| You people are revolting. | ||
| Revolting. | ||
| What you have done to this country. | ||
| What you have done to the citizens of this country. | ||
| And yes. | ||
| Yes. | ||
| Yes. | ||
| You will pay a price for that. | ||
| You will pay a price for that. | ||
| It's called justice. | ||
| Rough Roman justice. | ||
|
unidentified
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Here's your host, Stephen K. Band. | |
| Okay, because I've got time. | ||
| I'm going to get more into this. | ||
| We're going to spend a lot of time. | ||
| The resistance has already picked up. | ||
| And of course, the brains of the operation, part of the media brains is Rachel Maddow. | ||
| We'll break down what she's got to say. | ||
| The two angles of attack, one, are in the economic and financial side. | ||
| The others in deportations. | ||
| Write this down. | ||
| Mass deportations. | ||
| Mass deportations. | ||
| Write that down because that's the other angle of attack they're coming at us. | ||
| And that's what I'm saying. | ||
| Today, you know, you had your day off, right? | ||
| I was with you. | ||
| Everybody was a little sleepy yesterday. | ||
| But today, it's another, you know, you're back to the ramparts because you're going to reorganize and we're going on offense. | ||
| We're going to have to go on offense. | ||
| Let me play a CNBC piece and then I'm going to bring in Scott Bessent real quickly. | ||
| Let's play it. | ||
| We don't have it. | ||
| Okay. | ||
| Scott, why don't you talk about, it was on CNBC, you did a hit yesterday. | ||
| Talk to me, and this is, you went on there, and afterwards some things happened in the bond market. | ||
| I want you to, okay, let's be quiet over there, producer. | ||
| I got it. | ||
| You missed the mark, but I got my guest here. | ||
| Scott, describe what happened yesterday. | ||
| Why'd you go on CNBC? Well, Steve, I've been very concerned that I, as you know, predicted the red wave, the trifecta, and I've been very concerned that the bond market would explode on the upside, which it has been doing, by the way, since Jerome Powell's inappropriate 50 basis point rate cut at the Fed meeting in September. | ||
| So we'd already moved 70 basis points, and Yesterday, the bond market had the biggest move, the upward interest rates going up that it had since 2020. | ||
| So unfortunately, my prediction was correct. | ||
| And a lot of people mistakenly think that Donald Trump Led by this narrative in the mainstream media, a lot of people mistakenly think that Donald Trump's policies are going to be inflationary. | ||
| Mike Bloomberg, the head globalist in chief, has an editorial in publication he owns today saying, oh, Donald Trump's back for more. | ||
| I completely disagree with that. | ||
| And I think that interest rates are going to go up for the right reason because growth is very high. | ||
| And then I think that everyone will discover that President Trump policies of the energy dominance deregulation will be disinflationary. | ||
| So I went on yesterday to try to calm the markets and Okay, hang on. | ||
| Hang on. | ||
| Scott, hang on for one second. | ||
| Let me play the CNBC clip, which I don't have. | ||
| Thank you, Denver, Palm Beach, and my crack production team. | ||
| Let's play it and I'll bring you back in. | ||
|
unidentified
|
Let's just go back to it. | |
| Eventually. | ||
| Here's the thing, Scott. | ||
| I want to make sure we set this in perspective because we still don't technically have it. | ||
| What they're trying to make an argument, either bond vigilantes or whatever, is that when you look at Trump's... | ||
| Let me step back a second for the audience. | ||
| What Scott Besson has come on this show and said for the last couple of years is the following. | ||
| That we have given what the established order... | ||
| On Wall Street and the political class with this thing called modern monetary theory, where you can just have these massive deficits and keep printing money forever. | ||
| But eventually, you know, deficits, which never had a big political traction, gets into the deficits, get to debt, and the way you finance it, particularly the way they do a short term, that's where this inflation gets embedded, and that's where the American people get crushed and never turn around. | ||
| And what Scott Besson has been warning Scott Bessman saying, hey, if Trump does not get back in, this is your last chance to actually have a supply side or a Reagan type or a growth policy that we can grow our way out of here eventually. | ||
| And that's based upon energy, full spectrum energy. | ||
| Dominus, the Trump theory, it's based upon... | ||
| You know, decreasing the spending with Elon Musk would get to like 3% of the deficit, not 7 or 8%. | ||
| But it's all these things. | ||
| And these are going to be... | ||
| Hang on. | ||
| Deregulation. | ||
| Yes, the deconstruction of the administrative state, the deregulation part of it, to unlock the animal spirits and the entrepreneurial spirits. | ||
| Because remember, the MAGA movement, we're both populist nationalists, but we're the entrepreneurs also. | ||
| It's entrepreneurial populism. | ||
| Now, against that, you have this narrative from Wall Street and the central banks. | ||
| Everyone says, no, no, no, no, no, no, no. | ||
| Trump, Trump's saying what he's got, this theory is actually more inflationary. | ||
| And so pick it up. | ||
| That's what happened yesterday. | ||
| That's what was in the bond market yesterday. | ||
| And tell me what you said on CNBC that quite frankly stopped this, sir. | ||
| Well, look, I just gave the facts and the facts are easy because to use a favorite term of the progressive left, we have a lived experience. | ||
| We have the lived experience of Donald Trump 1.0 from 2016. | ||
| The 2020, and you know what, to be fair, I'll take out the COVID years, because I take it out on the deficit, so I'll take it out on the inflation side, that the growth was high, and inflation was low, and everybody won. | ||
| And it's absurd that they are concocting this boogeyman that what didn't happen before is somehow going to happen now. | ||
| I am worried, Steve, that the elites, the other side, they tried lawfare. | ||
| That didn't work. | ||
| They tried impeachment. | ||
| That didn't work. | ||
| And now I am worried that they have Taking the economy to such a bad place and getting ready for the election, they may try to spike the cannon on the way out the door because one of the things that would surely, the cripple or the cut back, | ||
| the very ambitious programs that President Trump has for the first hundred days, for the first year, for the four years, would be an economic So I actually think that they are going to use the economy this time to slow down the America First movement. | ||
| We're going to get more into it in the next couple days. | ||
| Trump is stepping into A firestorm created by them. | ||
| Remember, the theory of modern monetary theory is deficits don't matter. | ||
| And hey, if they ever become a problem, we just raise taxes a couple of hundred percent and you pay it. | ||
| It's all nonsense. | ||
| It's all fantasy. | ||
| It was a dangerous, stupid theory. | ||
| And we used America as the experiment. | ||
| President Trump is walking into a situation. | ||
| The ticking time bomb on our national security is not Ukraine and not the Middle East and not even my beloved, let's take them down Chinese Communist Party around Taiwan. | ||
| The ticking time bomb in the national security of the United States is debt that's adding a trillion dollars of debt every hundred days, and now the interest rates are over. | ||
| We're paying over a trillion dollars every year in interest. | ||
| That's the ticking time bomb, and it's ticking loud and fast. | ||
| So everything Besant and Warsh and Larry Kudlow and everybody's trying to work together, and Navarro and the whole team with President Trump, a businessman and a financier, is to work in this. | ||
| I know you've got to bounce, but your terms spike the cannon. | ||
| Before they leave. | ||
| Be specific about that. | ||
| What does Scott Besant mean when you use that quite explosive phrase, sir? | ||
| Well, so, Steve, Janet Yellen, who I think is going to go down as the worst Treasury Secretary in modern history, has run an emerging-market-style election economy. | ||
| So what has she done? | ||
| We've run a 7% budget deficit to GDP, the largest deficit when there wasn't a recession and not a war. | ||
| We have never done that before. | ||
| And it is just pure spending. | ||
| They tried to spin their way to a victory, like they do in Argentina, like they do in Turkey. | ||
| And by creating, they have inflated an asset bubble. | ||
| In housing and in the stock market, but only the top 20% benefit from that. | ||
| So you've got an asset bubble in housing and stocks, 20% A 7% deficit to GDP. And then just like they do before an election in Turkey, she moved all the borrowing to the front end of the curve to keep interest rates down. | ||
| And now that debt's going to have to be turned out. | ||
| Okay, hold on. | ||
|
unidentified
|
Full stop, full stop, full stop, full stop, full stop, full stop. | |
| I need to hit. | ||
| I know you've got to go. | ||
| I need a minute on this. | ||
| It's like paying a mortgage on a credit card. | ||
| Besson came up with that phrase about six months ago. | ||
| It's like you're paying your mortgage on your credit card at 25% APR. Okay? | ||
| We're just like, we're no different than Argentina. | ||
| One-third of the debt's got to be refinanced every year. | ||
| They're just doing it short-term. | ||
| And bills and notes and 90s, right? | ||
| Because they don't want to have the guts to actually go out and determine out long-term, which you should do as like a major country, the most powerful economy in the world, the largest, most powerful nation in the post-industrial world, Scott Besson. | ||
| She did the opposite. | ||
| And now Trump has got to come in and put, you know, he's supposed to be the sower of chaos. | ||
| He's supposed to be the sower of disorder. | ||
| He's supposed to be the disruptor. | ||
| No, the established order. | ||
| Is chaos because they put more money in their pocket and they keep more control and power. | ||
| That's what this has always been about, Scott Besson. | ||
| And that's why Tuesday night was a great night because ordinary American people, the entrepreneur class and patriots pushed back against it and said, it's our country and we're going to fix this. | ||
| And I am confident that President Trump is going to have a great four years. | ||
| He gave a wonderful acceptance speech. | ||
| It was inclusive. | ||
| It was conciliatory. | ||
| And I think once we can get over this hump and not let them spike the cannon, then we could be in the Trump golden age for the next four years. | ||
| Scott, social media, how do people get to you? | ||
| Email all of it. | ||
| A big article in Financial Times. | ||
| We'll deal with that tomorrow about you. | ||
| How do people find out more about you? - The ir@keysq.com. - Sir, honored to have you on here And I know that I think the country respects that you're part of the financial economic team with the other guys that people know maybe a little bit more of to help President Trump think through these issues. | ||
| So thank you. | ||
| Thanks, Steve. | ||
| See you later in the week. | ||
| Thanks, brother. | ||
| Okay, man. | ||
| What have I said from the beginning? | ||
| If you go back, Cleta Mitchell and my sister, I gave a talk in Pinehurst a year ago. | ||
| I think it was a year ago. | ||
| And I said in Pinehurst's speech, I said, let's go to January, February 2025. | ||
| Or let's go to the afternoon of 20 January 2025. | ||
| President Trump says it's been inaugurated. | ||
| Here's what's going to happen. | ||
| There's a financial crisis building up because we have the McCarthy debt ceiling deal becomes – you've got the debt ceiling. | ||
| You've got the budget because you know they're just going to do CRs. | ||
| How did I guess that? | ||
| Well, I guess I just looked at history. | ||
| You're going to have a budget with these deficits of a trillion and a half to two trillion dollars. | ||
| Trump's going to have to deal with it. | ||
| And you have the rescission or the reversal of all the tax cuts that were the basis of his economic policy. | ||
| The blacks and Hispanic men that voted for Trump, it was twofold. | ||
| One was a set of cultural issues that he's trying to address, but the other was economic. | ||
| They said, hey, you know what? | ||
| Besides all this trash, they talk about this guy. | ||
| 18 and 19, our communities were better. | ||
| My family made more money. | ||
| I made more money. | ||
| So the basis of that is Trump's tax cuts and deregulation. | ||
| So that's all. | ||
| And the second I said, the second part of it is the deportations, the mass deportations. | ||
| This is exactly the angle of attack they're coming now to thwart Trump's second term. | ||
| They want to spike the cannon on the financial side so he has very little room to maneuver. | ||
| And they've already started the infrastructure of the, oh no... | ||
| It's kids in cages. | ||
| All next in the war room. | ||
|
unidentified
|
Here's your host, Stephen K. Band. | |
| Yeah, hey, so first off, David Pakman, for picking on my sister, you motivated her. | ||
| She was a warrior. | ||
| One of the reasons we won in North Carolina was Mary Beth... | ||
| I won't give her last name because they may go blow her house up. | ||
| But all the Mary Beths out there. | ||
| And Pakman... | ||
| Yo, bro. | ||
| How's your long face today? | ||
| We're gonna get a lot longer. | ||
| It's a sad that you're sad. | ||
| I know you're sad. | ||
| By the way, you saw Alex Wagner was sad. | ||
| She quoted her like, Evelyn Woe. | ||
| Well, she did the thing on the bruise. | ||
| She's sad. | ||
| Why are you sad? | ||
| Wagner, why are you sad? | ||
| You've been a court jester for this crowd for a decade. | ||
| Why are you sad today? | ||
| And why he said we became the defenders, you know, one of the first things I want to do, I keep telling the people around President Trump that are doing the day-to-day, I want to go to Hollywood and get all these FBI shows off, all these shows, because this is how they got all the progressives out there in Hollywood that hate us. | ||
| And did those celebrity endorse, hey, George Clooney, how'd your deal go with Biden? | ||
| Did that work out for you? | ||
| The Harris? | ||
| You know you're detested now by people on the left because they figured Biden couldn't have done as badly as she has. | ||
| You did that, bro. | ||
| Oh, Steve Banner's just a... | ||
| Hey, yo, bro. | ||
| We're back and we're ascendant and you helped. | ||
| Katy Perry. | ||
| You want to know how dumb as a brick she is? | ||
| How unselfaware? | ||
| Yo, girl. | ||
| You were with Hillary in 16, I think at the exact same place, and we smoked her, and guess what? | ||
| It was in Philadelphia. | ||
| We won it because of the lack of folks coming out to vote for her. | ||
| Hello? | ||
| You did it again. | ||
| Same thing happened. | ||
| But that's great. | ||
| Your endorsements helped us. | ||
| One, it motivates people because how much they cannot stand and detest you. | ||
| And number two, you come across and it just doesn't motivate people, even on your side. | ||
| I think they're finding out now. | ||
| Matt Boyle, they got the stories out. | ||
| Okay. | ||
| Harris raised a billion dollars. | ||
| Cash money. | ||
| They had a hundred million dollars. | ||
| I think with a week left, and they end with $20 million in debt. | ||
| And now there's all this stuff that the money gets stolen. | ||
| And in fact, you know, Jonathan Martin was out there, who's a smart guy, was on MSNBC. I think they did the Sunday show. | ||
| I think they were doing specials like we were. | ||
| They were on Sunday, or maybe it was Monday. | ||
| He said, I've never seen a ground game. | ||
| They put so much money into it. | ||
| It's so much better than the War Room Posse and all these others that were kind of self-organized, the Sam Fattises and the Chase PA and all the states. | ||
| What Kemp and the guys had down in Georgia, you have some professional, but you got all these volunteers. | ||
| That would be you. | ||
| And guess what? | ||
| The militias won. | ||
| The volunteers won. | ||
| And now they're saying, Drudge's guys, there's a link to a story about Drudge, that their money was stolen. | ||
| You know, there's a bunch of articles about poor Elon. | ||
| He got picked off, but he got picked off by the political class. | ||
| Right? | ||
| This money, I guess, but stolen and nothing happened. | ||
| At least Elon and them had volunteers under their professionals and got it done. | ||
| Because you see by the massive turnout. | ||
| When I say massive turnout, I think President Trump's going to come out to the exact same. | ||
| 74 million, maybe higher. | ||
| Higher. | ||
| My crack analytical department tells me. | ||
| Higher. | ||
| 74. | ||
| What a number. | ||
| You're telling me a guy lost. | ||
| Think about this for a second. | ||
| You can't get off this because you've got to go back to the railhead. | ||
| It's like a doctor or surgeon getting to the disease. | ||
| You can't just deal the symptoms. | ||
| You've got to get to the root cause of the disease. | ||
| Left is always saying, let's get to root causes. | ||
| We need root causes. | ||
| We're going to get to root causes of Alex Wagner. | ||
| Take your number two pencil out and write this down. | ||
| Get your little notebook. | ||
| You're perky. | ||
| It's like your first day at school. | ||
| Got your mom packed some sandwiches for you in your lunchbox. | ||
| No, Alex, I'm kidding. | ||
| I'm not trying to be the patriarchy, right? | ||
| I didn't play the Tucker thing where he's talking about spanking the daughter. | ||
| We're not trying to be the patriarchy. | ||
| We're not. | ||
| I'm not trying to mansplain you. | ||
| I am not. | ||
| We'll have Natalie Winters. | ||
| She's 23. | ||
| She'll explain it to you this afternoon. | ||
| We'll deconstruct the patriarchy part of it. | ||
| It's the institutions that have become detached from the lived experience of American citizens. | ||
| In globalization, this is where we had to cut the part for brevity, but Harris is talking about America's an idea. | ||
| America's an idea. | ||
| She's channeling Paul Ryan. | ||
| America's an idea. | ||
| That's all the crap you heard from the National Review crowd. | ||
| America's an idea. | ||
| It ain't an idea. | ||
| It's a country with borders and land and people. | ||
| In a civic society that underpins this, the little generals of the civic society. | ||
| As Edmund Burke said it. | ||
| The Kiwanis Club, and the Bowling League, and the Church Softball League, and Little League, and the Irish Dancing, everything that makes up community. | ||
| Your institutions, by the way, which had middle-class organizations, people got into it, not just elites, but they became part of the credential class, the enforcement mechanism for the oligarchs. | ||
| Haven't you seen that, girl? | ||
| Look in the mirror and understand what you've dedicated your life to. | ||
| The enslavement of your fellow citizens. | ||
|
unidentified
|
One of the four beasts saying, come and see. | |
| And the little guy, you didn't listen to him in 16 and Trump was a fascist and a dictator. | ||
| All this, an anti-democratic, all her democratic, he can't, you know, the popular vote because the electoral college is racist and fascist and xenophobic and blah, blah, blah, blah, blah, blah. | ||
| We're going to blow you out in the popular vote. | ||
| The working class black men, Hispanic families, Hispanic men, the Arab American men in Michigan, the Somalians in Minneapolis, white working class, Scotch Irish, Italians, Hispanics from the Rio Grande Valley. | ||
| Alex, what they did on Tuesday is give you the middle finger. | ||
| And say, suck on this. | ||
| We're tired of it. | ||
| And this guy named Trump, who for the last four years you've tried to destroy, comes across to us as a warrior. | ||
| Comes across to us as a gladiator. | ||
| Comes across us as a leader. | ||
| Because why is the man trying to destroy him? | ||
| Like, you've destroyed our communities, and you've destroyed our families, and you've destroyed our jobs, and you've destroyed our ability to stand on our own two feet without the government and say, yes, this is mine, I've worked for this, I'm gonna pass this down to my children, and they're gonna pass it down to their children. | ||
| So people are not here for five and six generations and have nothing and own nothing. | ||
| And what they have, you sprinkle out like the French aristocracy. | ||
| I detest you people. |
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