March 11, 2025 - Bannon's War Room
48:20
Participants
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| Speaker | Time | Text |
|---|---|---|
| If it's in a CR, you've basically reconfirmed it was appropriated. | ||
| That means you have to go to court. | ||
| And we just saw the courts the other day challenging President Trump on this very topic. | ||
|
unidentified
|
Yeah, they overturned his challenge, his ban on the $2 billion. | |
| Looks like a lot of legal mess happening going forward, Steve. | ||
| Really good to have you with us. | ||
| And go take it away, my friend. | ||
| Eric. | ||
| Erica, if we didn't have a fight, we wouldn't be happy, right? | ||
|
unidentified
|
No, but I do have a present for you tomorrow. | |
| Make sure you're on, because I hope you're on. | ||
| I have a present for you. | ||
| I'm going to bring it to the set. | ||
| I'm on. | ||
| I wouldn't miss my handover from Eric Bolling. | ||
|
unidentified
|
All right, sir. | |
| Thank you, brother. | ||
| Appreciate you. | ||
| We're going to get into all of this, the CR, the funding, the markets. | ||
| I told you, I've been telling you folks, hey, we're going to go through some turbulence. | ||
| There's some turbulence today in the markets. | ||
| They blend in a whole bunch of stuff. | ||
| We're going to see how the mainstream media and the financial press and the business channel has been covering it in our cold open. | ||
| Then I'm going to come back and break it down all for you. | ||
| Let's go ahead and play the cold open of the afternoon edition of The War Room. | ||
| Steve Mnuchin seemed to have a coalition with Mr. I think Gary Cohn was in there as well, where they could speak truth to Donald Trump and stave off cataclysmic days like this for everyone who watched their retirement savings plunge, | ||
| for everyone whose livelihoods are tied to America's economy, which is everyone. | ||
| Does this speak to the weakness of the current economic cabinet members? | ||
| I think Howard Lutnick has been the biggest cheerleader Donald Trump could find during the cabinet meetings. | ||
| He was the one who heralded the accomplishments of President Trump. | ||
| And when you look at Scott Bess and his Treasury Secretary, just on Friday when he was asked about, on CNBC, about the strategy behind the tariffs being implemented and then some tariffs being rescinded, he called it an organic decision-making process, effectively acknowledging that it's an hour-by-hour, day-by-day decision coming out of the world. | ||
| And I think that that is also where I think Kevin Hassett is such an interesting figure in all of this. | ||
| He was there during the first Trump administration. | ||
| He was the one who was at the forefront of negotiating NAFTA 2.0, or the USMCA trade agreement, at the direction of then-president Trump. | ||
| Fast forward six years later, it's Trump, now president again, who is seeking to have Kevin Hassett, the man who negotiated USMCA, go out and explain how the United States is getting ripped off. | ||
| by Mexico and Canada. | ||
| Under the very trade agreement that he and Kevin Hassett negotiated six years ago, that is where it's very difficult to try to explain exactly what the goals are and the objectives are because the individuals around him are going out onto TV yet have struggled in a way that is starkly different than even six, seven years ago during the first trade war to explain what the priorities and the mission is of the tariffs that they are placing on these American companies from bringing in these imports. | ||
| I guess what I'm trying to understand is, is there anyone in the cabinet who previously, or prior to January 20th, advocated any of the policies they're now on TV shows defending? | ||
| I mean, Scott Besson, the Treasury Secretary, said that there would be a much more tactical, precision-type tariff policy that would be implemented by this White House. | ||
| And he was somebody that was never a fan of tariffs, yet President Trump selected him to be his Treasury Secretary. | ||
| And we have seen everything but a precision, tactical approach to tariffs. | ||
| And we have seen him, in response, go out and defend across-the-board sweeping tariffs that the President has directed him to enact. | ||
| This is the primal scream of a dying regime. | ||
| Pray for our enemies, because we're going medieval on these people. | ||
| I got a free shot at 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
|
Maga Media. | |
| I wish in my soul, I wish that any of these people had a conscience. | ||
|
unidentified
|
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. Bannon. | ||
| Okay, Monday, 10 March, year old, 2025. What happened today was a market meltdown. | ||
| I think we wiped off of the equity exchanges here in the United States, $1.5 trillion. | ||
| When I say wiped off, it's markets go up, markets go down. | ||
| This response, they said, to what they feel is bad guidance coming out of the White House on the tariff situation. | ||
| One day it's this, the next day it's that. | ||
| There's not a consistent message. | ||
| You saw MSNBC and the others are just an example we could have gone on for 30 minutes. | ||
| Of how Howard Lutnick never supported tariffs, and now he's a tariff cheerleader, how Scott Besson's late to that, and how Peter Navarro's here one day and out the next. | ||
| Yesterday, Howard Lutnick did say, it was on Meet the Press, that there was no recession in the forecast. | ||
| President Trump, I think earlier, on Maria Bartiroma, her weekend show, had said, look, if a recession comes, a recession comes. | ||
| Let me just hit rewind for a second. | ||
| Number one, the trade-off, the hand-off in the transition on the economy. | ||
| The Biden economy is far worse than has been represented. | ||
| And how do we know that? | ||
| The reset numbers, and what happens when they put numbers out for like any quarter, first, second, third, or fourth, you put the numbers out a couple of days after the quarter ends, and they're preliminary numbers. | ||
| It takes a while, five or six weeks. | ||
| Ten weeks, they actually get definitive numbers. | ||
| Those definitive numbers came out for the fourth quarter, which ended the fourth quarter of the financial year for all financials, not the U.S. government, is December 31st. | ||
| And they came out with the numbers, and they said, hey, look, we've got to reset labor, and you've heard that before, we have to reset this. | ||
| But there's one number we have to reset, and that number is inflation. | ||
| Instead of being 2.2%, it's actually a tad higher. | ||
| Oh, how high is it? | ||
| 4.2%. | ||
| That rolls through the entire system, and one of the reasons it's 4.2%. | ||
| In those months, what else happened in those months? | ||
| Number one, we had the largest budget deficits every month historically in the history of the country. | ||
| I think right now we almost have $900 billion to a trillion deficit for this year, setting records every month. | ||
| And that shows you we're having still this Keynesian infusion, this Keynesian stimulus into the economy. | ||
| And that's one of the things driving inflation. | ||
| Also, oh, by the way, we're having record trade deficits right now. | ||
| So that means we're buying much more than we're producing to the tunes of hundreds and hundreds and hundreds of billions of dollars. | ||
| Principally, that's from China. | ||
| Right? | ||
| The Chinese Communist Party, which is in control 100% of the Chinese economy and the Chinese state-owned industries. | ||
| So we're essentially financing our own demise. | ||
| Because we're buying from our... | ||
| We're purchasing, you know, manufactured goods, the heartbeat of any economy, from our greatest enemy, the existential threat. | ||
| President Trump's tariffs... | ||
| Technically, they have to do with fentanyl because that's one of the emergency measures you do to do this. | ||
| It is the fentanyl crisis. | ||
| That's a big one. | ||
| But also, in addition, there is this not just theory of the case. | ||
| It's about the United States is being ripped off by everybody, as President Trump says. | ||
| Canada is one of the worst. | ||
| Canada is one of the worst. | ||
| And this is why President Trump keeps talking about reciprocal tariffs. | ||
| Reciprocity will start on. | ||
| The 2nd of April. | ||
| The markets have finally kind of heard enough. | ||
| They said, hey, we hear you. | ||
| We see the jobs report the other day was pretty good. | ||
| The White House still, Scott Besson, I think, did a very good job, the New York Economic Club the other day. | ||
| But this has to be consistent. | ||
| It has to be everything. | ||
| What have I said from day one? | ||
| Every day, President Trump should be talking about the economy. | ||
| This is where he's best. | ||
| This is his wheelhouse. | ||
| You have one of the smartest businessmen ever, right? | ||
| That is President of the United States. | ||
| That's quite rare since most of them are career politicians. | ||
| Or if not career politicians, people have come into politics late in life. | ||
| This is an individual that never ran for elective office before. | ||
| Do we have the actual market meltdown? | ||
| Let's go ahead and play some clips on the market meltdown. | ||
| Let's play right now. | ||
| See the scale of this. | ||
| I will return in just a moment. | ||
|
unidentified
|
It's another sell-off on Wall Street, as you've just heard. | |
| The S&P is now at its lowest level since September. | ||
| Since September, before the election, fresh data today is not helping quell recession fears, and the Nasdaq is seeing the biggest losses once again. | ||
| It's down 12% from the highs with today's 3-plus percent drop. | ||
| And the last thing I'll say... | ||
| What they are freaking out about is the data that shows that we are increasingly headed towards Stagflation. | ||
| Stagflation, yeah. yeah. | ||
| That is a political poison, and you have very serious economists, starting with Larry Summers and all the way on down, who are looking up at the horizon right now and saying, it's not guaranteed we're going to have it, but it's becoming increasingly likely, especially if Trump continues down the path that he's continuing with these policies. | ||
| I mean, Vaughn, I'm not going to play it again because I've played it a million times, but Trump ran explicitly on juicing the economy, on the price of eggs. | ||
| He called it the grocery, the best jobs, the biggest paychecks, the brightest economic future that the world has ever seen. | ||
| These weren't messages from when he was claiming he was the actual victor in 2020. These are messages from October. | ||
| Of last year. | ||
| He ran on rapidly deflating inflation, quickly bringing down prices and reigniting explosive economic growth. | ||
| Everything he's done is the opposite of everything he promised. | ||
| And I know there's some debate on and off television about whether the normal laws of politics apply to him. | ||
| They may or may not. | ||
| I believe they do. | ||
| They certainly, they sure as hell apply to everyone who's going to stand before voters in the midterms. | ||
| Okay, this is... | ||
| This shows you, MSNBC, if you watch them, or CNN, you would think Trump was handed a roaring economy. | ||
| As we've said on this show for a long time, we've had stagflation under Joe Biden. | ||
| Remember, all the jobs that were created, and then they got reset to the millions of phony jobs they reported. | ||
| All the jobs that were announced ever, the net job creation all went to foreigners, not even to American citizens. | ||
| The Biden economy was a disaster. | ||
| This is why President Trump won. | ||
| I strongly recommend, and I've recommended this, that we now get totally organized, totally organized, and start to make the case, so the American people can understand it, of exactly what President Trump inherited and what's the action plan. | ||
| And that action plan falls into three broad buckets. | ||
| Number one is a supply-side tax cut. | ||
| Supply-side tax cut. | ||
| That will drive productivity, right? | ||
| Will drive the supply side of the equation, not the consumption side. | ||
| This will be, I think, our last chance to get a supply side tax cut. | ||
| That tax cut will be the extension of the Trump tax cuts, and obviously I've got some issues with the... | ||
| Upper bracket on that. | ||
| But I think that'll all be worked out in the one beautiful bill. | ||
| The second is the deconstruction of the administrative state and the massive deregulation that comes with it that unlocks the animal spirits and gets a higher growth rate above the 1.9% or 2% that we have right now. | ||
| This also goes with the supply-side tax cut. | ||
| To get that growth rate, I don't know, 3%, 3.5%, because then you get more tax revenue with that coming in. | ||
| The other part is tariffs, which is a... | ||
| Different part of the economic model and drives external revenue. | ||
| Or major companies coming back and investing in the United States. | ||
| Massive capital expenditure. | ||
| Like Apple with $500 billion. | ||
| Like a Taiwan semiconductor with $100 billion in four years in Arizona. | ||
| Like Honda Motors, like many, many, many others. | ||
| I think it's up to $600 or $700 billion of direct investment in factory plant and equipment. | ||
| Then you've got... | ||
| The overall financial picture, which we're talking about, this is about the CR. I'm not happy with the CR. I hate it, but I see it as an interim step if people follow through on their commitments and promises. | ||
| And this is the White House, which I think we can feel confident President Trump will. | ||
| I have no, no, no, no faith at all that Mike Johnson will. | ||
| Mike Johnson has just lied and disassembled. | ||
| Shuffled around and got us in this jam right now. | ||
| And I'm not so sure seeing coming out of the Senate whether this thing's going to pass, whether you're going to get enough votes to break cloture. | ||
| And I think the Democrats actually want to see President Trump's government shut down. | ||
| So we're in a jam, but there is an economic plan, and they're executing on the economic plan. | ||
| To me, it has to be crystal clear, diamond sharp on the messaging of it. | ||
| Okay, short commercial break. | ||
| Birchco now more than ever. | ||
| Now more than ever. | ||
| I told you we're going to get turbulent. | ||
| Gold is a hedge. | ||
| Bannon, text Bannon, B-A-N-N-9-8-9-8-9-8 to get the brochure, Investing in Gold in the Age of Trump, the Ultimate Guide. | ||
| Check it out today. | ||
| day short break here's your host Stephen K. Mann folks should know we got Kevin but that's my technical mistake we We got Kevin Posobiec down at the BLM Plaza. | ||
| For folks that may have forgotten this, right next to St. John, on the other side of Lafayette Square, right across from the White House, that beautiful park, that little park, Blair House is kind of on one side of it. | ||
| You've got St. John's Church, where the president always does the religious observance on the morning of the inauguration. | ||
| They go, they have religious observance and pray. | ||
| Pray for the country and pray for the republic and pray for the president. | ||
| Across the street from that is the Hay-Adams Hotel. | ||
| It's the former home of John Hay, who was the secretary at the age, I think, I don't know, 2021, of President Lincoln. | ||
| He and the other secretary at the time, because all secretaries were male secretaries at the time, wrote probably the most... | ||
| One of the most insightful eyewitnesses accounts of Lincoln in the Civil War. | ||
| It's absolutely brilliant if you ever read a bridge version of it. | ||
| Later became Secretary of State a real power player. | ||
| So that hotel is one of his houses or stands where it gets housed. | ||
| I think his house itself might have been, was a hotel at first and got torn down. | ||
| The beautiful hotel this other day has been there forever. | ||
| Outside there during BLM, the height of BLM, they spray painted. | ||
| St. John's Church, they defaced the church. | ||
| The church, they actually threw, I think, Molotov cocktails started to burn. | ||
| One time, this is the one that President Trump went out and held the Bible in front of, that Milley and Esper went back and committed their treason afterwards. | ||
| They were going to work together to make sure that they could basically hold down the president. | ||
| That was in June of 2020 during the COVID and later. | ||
| They, you know, he was very upfront, Millie, that he was going to, you know, after the election was stolen, he talked to the Chinese Communist Party. | ||
| It's why he should be recalled to active duty. | ||
| I noticed that hasn't been done yet. | ||
| Recalled to active duty, court-martialed for treason. | ||
| That plaza, under the direction of President Trump, because the federal government runs Washington, D.C., it's being torn up. | ||
| We're going to go now to Kevin Posobiec. | ||
| Kevin Posobiec, is Kevin Posobiec there? | ||
| Let's go to Kevin Posobiec. | ||
| At BLM Plaza. | ||
| Kevin, what do you got for us? | ||
| What's going on, Steve? | ||
| And yes, you can see behind me I have St. John's Church, and I was just in there earlier, and to what you were saying, it... | ||
| It is a very historic church, and there's even a pew where Abraham Lincoln sat in the back of the church during the Civil War, and the historic Hay Adams as well. | ||
| And what was once a historic plaza here is going to be demolished. | ||
| This is the former Black Lives Matter plaza, now just 16th and I Street. | ||
| But word on the street, literally, is that it might be renamed into the Liberty Plaza. | ||
| Moving forward come America's 250th this year in celebration. | ||
| So we had some mixed reviews here and there. | ||
| There's some people picking up stones from the work today. | ||
| And, you know, some people are applauding this and some people are obviously protesting. | ||
| Not many anymore, thanks to USAID. They don't have the funding to come out and protest. | ||
|
unidentified
|
But here we are. | |
| Doge! | ||
| Hey Doge, you're doing your job. | ||
| Hey Kevin, I just want to stay right there. | ||
| So folks, you look down the street to your left, and that's St. John's Church. | ||
| Kevin is by the... | ||
| By, I guess, the 16th Street side, and you're looking down. | ||
| That right and back of Kevin all the way down is Lafayette Square, and then to the right of Kevin is where the Hay Adams would be. | ||
| This whole block, this historic block, I guess they had yellow bricks and they had BLM and these huge block letters to kind of mock people, and particularly after they desecrated St. John's Church to make a big deal about it, Kevin? | ||
| Yeah, Steve, so they did. | ||
| They sure did. | ||
| And so far today, you can see these black pits here are from—they're digging up the posts first, and they're going to come back. | ||
| And this is—everybody's reporting. | ||
| There's a few things I want to point out. | ||
| This is more than just painting over. | ||
| They actually cut into the—in the street here and did a skim coat of concrete across all of it. | ||
| So they're going to have to dig all this up and redo the whole thing aside from the posts. | ||
| And not only that, but I was also seeing that this is an actual evacuation route as well. | ||
| And you can see straight down for me is the statue of Jackson on the horse and then the White House. | ||
| But this is an actual evacuation route. | ||
| So we need this cleared. | ||
| We need these lanes opened. | ||
| And it's time for just a regular old street again. | ||
| I personally don't think they should rename it, but, you know, we'll see. | ||
| Because then you just get everybody reading everything. | ||
| What's that? | ||
| Yeah. | ||
| Kevin, during the height in June particularly of 2020, I mean, DC was really under siege there for a couple of weeks. | ||
| This became the centerpiece of it right here. | ||
| I cannot... | ||
| I can tell you what, Steve, I came down here earlier. | ||
| And I witnessed, I was in Philadelphia in 2020 myself around this time, and of course Jack was down here, but listen, I couldn't be more thrilled about this. | ||
| I mean, these people, these cultural Marxists, they want to tear down any statue. | ||
| They took down the Frank Rizzo statue in Philadelphia and they said, anything, you know, that is oppressive to our rebellion, we need to take down. | ||
| They wanted to take down so many statues. | ||
| They defaced the Benjamin Franklin statue outside the old press building. | ||
| Down here in D.C. But one thing, you know, they addressed the DAs. | ||
| They said, DA Larry Krasner, we want you to not charge. | ||
| We want you to drop charges against anybody that gets arrested during this rebellion for our, you know, for our success. | ||
| And then also the mayor, they want the mayor to step down whenever there's any kind of riot or protesting, just so they could succeed. | ||
| Those were their demands in 2020, and I witnessed that. | ||
| Kensington, too, of all neighborhoods. | ||
| And during the rioting and looting, I took my stimulus check from Joe Biden whenever he gave us all that for COVID. I said, I don't really want any of this. | ||
| This is going to mess up. | ||
| This is messing everything up. | ||
| I mean, you're on top of the CR bill yourself and everything coming out. | ||
| But he gave us those stimulus checks. | ||
| I turned around and went to the supermarket and bought all these energy drinks at Gatorades and I handed them out to the National Guard down there. | ||
| So I turned around and I did that today. | ||
| To these boys down here. | ||
| It was getting a little hot. | ||
| It's a nice spring day here. | ||
| So I came and gave them all Wawa coffee earlier this morning. | ||
| And, you know, just a charity of my own funds. | ||
| I was trying to butter them up so I could get on. | ||
| I was trying to butter them up to get on this kid steer myself. | ||
| But they said no. | ||
| No doubt. | ||
| Hey, Kev, I'm so shocked. | ||
| A wild man walks up with a camera and says, I want to be a driver on your skid. | ||
| No, the answer is no, sir. | ||
| Kevin, President Trump has wanted to do this for a while. | ||
| Do we actually know how this was effectuated? | ||
| Do we actually know how he told? | ||
| Because people forget. | ||
| D.C. is totally under control of Congress and essentially the White House. | ||
| In fact, one of the issues they have in the prison system is that every crime in D.C. that's like a violent crime is a federal crime. | ||
| There's local law enforcement, but since it's a federal district, everything is a federal crime. | ||
| I know Bowser and the people in D.C., the Marxist radicals that run it, are absolutely infuriated by this. | ||
| Do we have any idea how it came down? | ||
| Well, you know, I was talking to a few people. | ||
| I've been here all day, and it seems to be somewhat related to the CR bill, I want to say. | ||
| It's something along the lines of resetting it to 2024 measures, and there will be a billion dollars less for DC. So it seems like Trump and Bowser might be working out a deal towards, you know... | ||
| Given Trump this, I don't know if he even cares for it, but, I mean, there's some kind of deal happening here. | ||
| Now, this is going to take how long? | ||
| This is going to take, what, 20, 30, 40 days, a couple of months? | ||
| What do you think? | ||
| I talked to the guys this morning. | ||
| They said about two weeks. | ||
| They said about two weeks, and I was seeing reports online up to six weeks. | ||
| But as I said, it's a big job. | ||
| And I have had experience working on jackhammers and skid steers. | ||
| So this is more than just paint on the ground. | ||
| They actually cut up the road. | ||
| So they're going to have to take all this out. | ||
| They're going to have to redo the whole road and take the posts out, too. | ||
| So at least a month. | ||
| And we'll see. | ||
| We'll see what happens. | ||
| I mean, there hasn't been any demonstrations yet. | ||
| We were hoping to see maybe some congressman or who knows who's going to come by and make a statement. | ||
| But nothing yet. | ||
| The coming week or so, for sure. | ||
| I'll talk to Jack. | ||
| If we're missing you tomorrow, I know you're over there. | ||
| You've got a job with a jackhammer. | ||
| Kevin, what is your... | ||
| By the way, Kevin Posobiec, known in history as the man that named the Gulf of America. | ||
| Where do people go for your social media, sir? | ||
| Sure thing. | ||
| You can follow me on... | ||
| Twitter, Kev Posobiec, at Kevin Posobiec, and also on Instagram. | ||
| Yeah, follow me on there, and Human Events Daily. | ||
| We're War Room Posse family. | ||
| We love you guys. | ||
| Rav family. | ||
| Yeah, it's great to be down here, and yeah, we'll stay tuned. | ||
| Stay tuned. | ||
| We'll see. | ||
| I'll let you know if they get me on the skids here for sure, Steve. | ||
| I will. | ||
| Please let me know. | ||
| Fantastic. | ||
| Thank you, brother. | ||
| Appreciate you. | ||
| Kevin Bosobik. | ||
| And I'm hearing that Kevin's hit here on War Room was even better on Human Events Daily. | ||
| Well, that's obvious. | ||
| There's a better interviewer who actually listens to his subjects and doesn't talk over them. | ||
| Maybe not. | ||
| Okay, Birch Gold. | ||
| What a day on Wall Street. | ||
| It's going to be turbulent. | ||
| President Trump's trying to implement a new business model. | ||
| Kind of for the political economy. | ||
| Massive cuts to federal spending. | ||
| Also using tariffs to drive back high-value-added manufacturing jobs and drive external revenue and stop fentanyl. | ||
| The Mexicans have it. | ||
| They've got the joke. | ||
| You heard Oscar Blue Ramirez this morning. | ||
| Bannon at 989898. Birch Gold. | ||
| The ultimate guide to investing in gold in the era Trump. | ||
| Check it out today. | ||
| Short commercial break. | ||
| Back in a moment. | ||
| We really stand with what President Trump inherited as you see the economic battlefield in front of us. | ||
| It feels like less a battlefield than a minefield, frankly, what President Trump has inherited. | ||
| I mean, it is difficult, Steve, to, I think, to get across to people just how bad the economy is because what the economy actually looks like today and what people's lived experiences is just simply not matching up with what the data say. | ||
| There's just too many problems, again, with the data. | ||
| Going back to what we were just talking about, right? | ||
| There are things wrong with the data themselves. | ||
| Because why President Trump won such a renown— Such a great victory in November, right? | ||
| Where you had him winning the popular vote, every swing state, a huge electoral majority. | ||
| It's because the media was not successful in telling people, don't believe your lying eyes and don't believe your empty wallets. | ||
| Everything's fine. | ||
| So we are staring down the barrel of more inflation, courtesy of the Fed's interest rate cuts last year and relatively loose monetary policy. | ||
| Let's not forget the monthly if we look at the monthly inflation reports, the annual inflation rate that comes in every month that has gotten worse each month since the Fed started cutting interest rates. | ||
| So clearly we have more inflation coming down the pike that the president will have to deal with. | ||
| We have all of the messes internationally that the president is already dealing with, especially in places like the Ukraine. | ||
| We have a banking crisis, which still really hasn't gone away. | ||
| The Fed just... | ||
| Papered over it with things like emergency lending programs, but that is still very real. | ||
| We have a commercial real estate sector that is in absolute turmoil. | ||
| The housing market is a disaster. | ||
| We just got pending home sales numbers this morning that were down to a record low. | ||
| Pending home sales today are about 30% below where they were in 2001. Not 2021, 2001. So here we are essentially a quarter century later, and the housing market The housing market has 30 percent less activity today than it did back then. | ||
| That's a disaster, even before you factor in things like population growth, for example. | ||
| So again, what this president has been handed is an absolute dumpster fire, frankly, of an economy. | ||
| Things are terrible. | ||
| The deficit is exploding. | ||
| It's the worst start. | ||
| The worst four-month start ever to a fiscal year in terms of that deficit started in October, ran through January. | ||
| The worst four-month start ever to a fiscal year. | ||
| And at the same time, you have a Treasury secretary in Scott Besson, who is a master of sovereign debt markets. | ||
| And he's going to need, I think, every ounce of his mastery and expertise to really unwind the disaster and the mess that he was left by Janet Yellen in terms of rebalancing the Treasury's portfolio, in terms of trying to get the yield down on the 10-year Treasury note, trying to get the interest payments down in terms of trying to get the yield down on the 10-year Treasury Those interest payments are already over $1.2 trillion a year. | ||
| I mean, Steve, if you give me an hour, I could fill it, I'm sure, with all of the negative aspects of this economy that President Trump has inherited and that he's going to have to deal with. | ||
| And on top, the only one you missed, we had a record trade. | ||
| OK. | ||
| OK. | ||
| That's a masterclass right there. | ||
| It's our own E.J. and Tony. | ||
| That is a masterclass. | ||
| I do this. | ||
| I watch this stuff for a living. | ||
| No one has done a better job than us from 10 days ago when they first recalculated the numbers. | ||
| Normally we have E.J. on about the labor statistics and go through all that. | ||
| He's an economist and spectacular. | ||
| But they're asking to pull the camera back because why? | ||
| Because the interest rate went from 2.2% to 4.2%. | ||
| It didn't go from 2.2 to 2.5 or 2.6 or 2.8. | ||
| 4.2%. | ||
| It's a dumpster fire. | ||
| We need the proper framing. | ||
| If you watch MSNBC or CNN, it's all, it's been great. | ||
| It's been lovely. | ||
| It's been fantastic. | ||
| Trump took over. | ||
| No. | ||
| And this is the reason is you have to set the framework so that then folks understand here's what we're doing. | ||
| Here's what we're doing for a supply site. | ||
| This is why DOGE is in trying to find waste, fraud, and abuse, because we cannot exist at 6.5% deficits to GDP. That's over $2 trillion. | ||
| You can't go on. | ||
| You can't finance it. | ||
| The BRICS nations will all punch out, and you're going to have the end of the dollar empire. | ||
| And then we're really screwed. | ||
| As much as we have to have a national debate about that, you just can't do it overnight. | ||
| It gets to why you have to have massive cuts of federal spending, and they're going to be painful. | ||
| People have to address that. | ||
| We have to be able to take the political pain, but you can do that by explaining to the American people and being straightforward with them. | ||
| We're in the CR, and I understand this audience ain't happy. | ||
| I know you're not going to be happy. | ||
| You may have to take one for the team here. | ||
| And I know you're sitting there going, well, hey, we've taken enough for the team. | ||
| We fought for this, we won this, and now we don't understand why we're here right up to the 14th of March. | ||
| I understand that on the 14th of December, you were promised a single subject of appropriations bills. | ||
| Well, this is why, and I, just to the White House, same House leadership keeps tapping you along, and President Trump, there's a tweet out right now, President Trump's making calls, and President Trump is now forced, with everything he's got on his plate, On the economy and everything else, President Trump has now got to whip the vote. | ||
| That's where we are. | ||
| And that's because there are congressmen out there saying, you know, President Trump, we love you, we support your plan. | ||
| But the big hang-up, it's not, look, the Biden budget, bad enough. | ||
| The $2 trillion deficit, horrible. | ||
| But I think what sticks in people's cross is doge. | ||
| Is that, hey, these guys, and yes, we understand they still have much work to do, and they're going around, but hey, the rest of us, you just heard Mike Benz and Eric Bolling and Kevin Posobiec from soon-to-be-renamed Liberty Plaza, where BLM used to be, talking about USAID funding all this crap, and we know it, and now, technically, we're going to have to fund it with a promise, and we understand it's a commitment, that you're going to do a rescission or an impoundment. | ||
| In the great backbencher, Congressman Burleson, went on Twitter today, said he'd actually, I think, had a talk with the White House, said, hey, they promised we were going to do it, so I ain't happy, but I'm kind of all in. | ||
| Nobody's happy. | ||
| Then you have a day like you have today in the markets. | ||
| The information's there. | ||
| The plan is the correct plan. | ||
| People have thought this through. | ||
| They've run numbers. | ||
| Always and everywhere, I told you, the execution here is going to be tough. | ||
| And you're going to lose some sunshine patriots and summer soldiers. | ||
| It's going to be too tough for a lot of people, and this is why the night he won, and they're all coming back and loving on Trump and rubbing up on Trump, and then they get to the inauguration, all walking around in ball games. | ||
| You've got these billionaires. | ||
| They're having a crypto ball, and they're doing this. | ||
| That's all fine. | ||
| I love it. | ||
| People celebrate. | ||
| Come together. | ||
| Yo, dude, in 100 days, we're going to be in some trenches, okay? | ||
| And I want to see who's in the trench next to me and how we're going to force this program through. | ||
| Because they're going to happen the old-fashioned way. | ||
| Political muscle. | ||
| It's not going to be quiet conversations. | ||
| This is not an era where quiet conversations work. | ||
| That type of politics went away with the cloakroom and three networks and a little teeny black and white box when Walter Cronkite told you what they thought you had to hear. | ||
| Now you hear what you're prepared to go hear. | ||
| It's all over. | ||
| It's out there. | ||
| Natalie Winters, our White House correspondent, joins us from the White House. | ||
| Talk to me about tariffs, man. | ||
| That's one of the reasons $1.5 trillion wiped off the value of the stock market today. | ||
| As markets go up and markets go down, but part of this is blamed on the inconsistent messaging around the tariffs or maybe people's commitment to this new business model or what its impact is, ma'am. | ||
| Well, Steve, I think I would also add perhaps the largest data point to that wonderful explanation by E.J. Antony, which is the resounding victory that President Trump had among primarily... | ||
| America's working class, right? | ||
| People who are sort of new to the MAGA movement because of the unfortunate lived reality of Joe Biden's economy, which I think we're learning more and more every day, was essentially propped up not just by fake numbers, but by government contracts, by employment for illegal aliens, right? | ||
| In the same way that MSNBC sort of, I think, chastised the Kamala Harris campaign for saying, you guys lost on the economic issues because you tried lying to the American people by saying that their economic reality actually wasn't that bad. | ||
| Just look at the data. | ||
| Just look at the facts. | ||
| I think the Trump administration should almost heed that lesson and not, I think, fall victim to the same, I think, messaging pitfalls. | ||
| However, there is a bright spot today. | ||
| A wonderful article coming out, believe it or not, from Reuters. | ||
| And if I were to say it to you, you probably wouldn't believe me that it's actually them saying it. | ||
| So I'll just read you the quote. | ||
| Talking about how President Donald J. Trump's tariffs are already working as more and more companies are looking at, quote, expanding their presence or setting up shop in the United States. | ||
| Like I said, that's a direct result of these tariffs. | ||
| They go on to list several companies, including Campari, Kampal Electronics, Essity, Honda, Hyundai, Inventech, LG Electronics, LVMH, Samsung, Stellantis, Volkswagen, and Volvo. | ||
| So a nice win in terms of reshoring manufacturing, which I think, as you've always sort of said, is maybe perhaps the first step in reorienting the American economy to be more in line with the America First sort of populist agenda and stopping seeding all of our factories and manufacturing to our mortal threat, which is the Chinese is maybe perhaps the first step in reorienting the American economy to Thank you. | ||
| You're there every day. | ||
| And let me make an observation. | ||
| It's far from a criticism. | ||
| But I know there's complex. | ||
| He's doing executive orders. | ||
| There's days of thunder. | ||
| He's doing ten things a day. | ||
| Do they have to get a little tighter? | ||
| The actions are there on the policies of the economy. | ||
| Remember, I always told you that middle one about getting through this financial thing is going to be the existential threat. | ||
| Do you believe, as you sit there every day at the White House, that maybe you could have, as Caroline goes up and does a great job, maybe she's augmented by somebody from Treasury. | ||
| Maybe every other day they're given a detailed, and particularly you bunch. | ||
| These investments back here are just, they've never happened. | ||
| For years, I think they had $1.7 trillion invested. | ||
| Trump's done that in 40 days. | ||
| Do we need more of Treasury over there helping the comms team? | ||
| Do they need more part of a daily brief if Caroline's going to do it? | ||
| You hit 10 minutes on the economy? | ||
| Because clearly, this is everything. | ||
| And what galls me, as you know, we've reported on this stagflation for years. | ||
| And now it's like a whole new concept. | ||
| It's like a whole new thing. | ||
| Trump's stagflation, which is a bald-faced lie. | ||
| Your thoughts? | ||
| And observations, ma'am. | ||
| Well, look, I think we're lucky to have such wonderful communicators in the form of people like Scott Besson and, of course, Dr. Peter Navarro, right, who's been on the show, hosted the show. | ||
| And I think if you were to put people like that in front of the cameras, they can, I think, explain it in the same way that E.J. Antony was. | ||
| But I also think that the issue is not so much really on the, I would say, supply side, right, in terms of who we have to message, because you know as well as I do, as this audience does, even if we put up our best communicators, even if you put E.J. Antony right behind that podium. | ||
| You think my wonderful colleagues are going to share that message in the way that you or I are frankly any way that comports with the truth? | ||
| Right? | ||
| Obviously not. | ||
| So I think in some ways, if you look at all of this as being interconnected, I think... | ||
| The comms office, the press team, really has sort of done to the best of their ability, right? | ||
| They have taken on these sort of legacy media establishment. | ||
| And I think one way that they can actually push back is through these new media voices, right, who are more willing and eager not to, you know, repeat their propaganda lines like Mother Jones has told us, but just to report the facts. | ||
| And frankly, I think the most effective way to communicate with these people is in their own vernacular, in their tone. | ||
| I think people should be pulling clips of the last four years on MSNBC and CNN and Fox where they talked about the bleak, dismal reality, the lived experience that was Joe Biden's economy. | ||
| Look, we have the upper hand here. | ||
| If what we have to message is that Joe Biden's economy sucked For millions of Americans, that's a really easy messaging war to win. | ||
| I think we just need to realize that just because you say that, we don't have the luxury, the benefit of the doubt that comes with the wash, rinse, repeat that all the tents not too far away from me have because they control the legacy media outlets, right? | ||
| We got to get a little scrappy. | ||
| But I think that's why the new media is here, right? | ||
| To push back. | ||
| So that would be my, again, very, very humble suggestion. | ||
| Natalie, hang on for a second, because you have a big story about ActBlue. | ||
| I want to make sure we get plenty of time to get to that. | ||
| Patriot Mobile. | ||
| You know, we've gone out of our way because we believe in it so much, this patriot economy, looking for alternative companies and spaces where you need the products or the services. | ||
| One is obviously telecommunication. | ||
| 972-PATRIOT. You know the good work they do in the community in Tarrant County in Texas, how they give to philanthropic, but what you don't know, it's so easy to switch. | ||
| 972-PATRIOT. Go check it out today. | ||
| Short break. | ||
| back in a moment. | ||
|
unidentified
|
Here's your host, Stephen K. Mann. | |
| Okay. | ||
| Um... | ||
| Natalie Winters, Act Blue, ma'am. | ||
| Yes. | ||
| Well, I think everyone in this audience knows that Democrats are and always will be the party of open borders. | ||
| But when you follow the money, I think that conclusion is only more clear. | ||
| Obviously, ActBlue is sort of the leading financial firm institution that Democrat candidates and PACs use for their fundraising efforts. | ||
| But what I found just breaking today, I think, is quite concerning, showing that really the full scale invasion of this country, not just under Joe Biden, but his predecessors, too, has been facilitated and funded by ActBlue. | ||
| I was able to go on their website and look at the dozens of organizations that they list as their essentially financial partners. | ||
| And really, from cradle to grave, from start to finish, every single aspect of the invasion of this country, and I use that word intentionally, ActBlue somehow is involved. | ||
| They are the financial partners. | ||
| Okay, okay, hang on. | ||
| Hang on, hang on. | ||
| Hang on. | ||
| Hang on. | ||
| Slow down because my head's blowing up already. | ||
| ActBlue is one of these things. | ||
| They're supposed to just be to help facilitate. | ||
| A person sees, is watching MSMEC as they're free to do, and they see some person from Michigan that's a congressman. | ||
| They're supposed to be able to go on ActBlue and give $10, and it very quickly can go to that congressman. | ||
| It's supposed to be one of these intermediaries between donors, particularly small donors and people actually running for congress. | ||
| I thought that was their task and purpose of which they're known for, correct? | ||
| Well, look, Steve, don't get me started on the smurfing, right? | ||
| The idea of all these small-dollar donations coming from the mythical MSNBC viewer that I think is increasingly rare, if not extinct. | ||
| But setting that aside for a second, talking about these NGOs, which I've essentially chronicled, you can go to my X account and look at, I think, probably the longest thread I've ever put out. | ||
| But there are groups like, for example, the Kino Border Initiative or other groups like Border Angels who set up, catch this, water stations along the southern border, along illegal aliens trekking from Mexico up to the United States, setting up resources, like I said, like water, to help them make their journey to the United States. | ||
| Those groups use ActBlue for fundraising. | ||
| Then once they actually get here, groups like Catholic Charities and their Lutheran counterpart, which this audience knows very well, not only do they receive tens of millions of dollars in government grants, but they're responsible for flying migrants from the border right into the interior of the country. | ||
| Then you have another sort of tranche of NGOs that then are working in the communities that these illegal aliens are flown to, to set them up. | ||
| In some cases, they even admit on their website, getting them enrolled in public assistance and government assistance programs. | ||
| Also, on the other side of it, you have NGOs that are working on the legal side, providing pro bono legal representation, not just for illegal aliens who are seeking citizenship or green cards or whatever, but including illegal aliens who are detained by ICE trying to avoid deportation. | ||
| Then there's other NGOs that activate, or rather currently are actively engaging in setting up what they call either know your rights campaigns or ICE emergency response hotlines. | ||
| So when you've heard these stories about ICE agents getting doxxed or illegal aliens calling to alert people of ICE in their neighborhood, ActBlue is responsible for funding these organizations and And then essentially on the other side of it too, all the activists, the organizations, the protests, the mass phone calls, and the lobbying efforts, not just to change legislation, but to intimidate ICE, those groups all also use ActBlue. | ||
| So what you're seeing is maybe perhaps at best just... | ||
| Straight up fraud, right? | ||
| It's kind of a weird convergence between the Democratic Party and the Open Borders agenda, which, like I said, that's not a conspiracy theory to anyone new to the show, or rather old to the show. | ||
| But at worst, what you're seeing is that ActBlue is facilitating, in some cases, outright, dare I say, human trafficking, right? | ||
| You're talking about the mass movement of illegal aliens. | ||
| We know that that's a very shady, dark, dark, dark business. | ||
| And essentially the backbone of the invasion of this country, from cradle to grave, from the NGOs that are helping illegal aliens get here, to processing them, to flying them, to providing them legal aid, to become citizens or avoid deportation. | ||
| And if we have time, Steve, I just want to read you how radical some of these groups are. | ||
| The Immigrant Home Foundation. | ||
| By the way, hang on. | ||
| Natalie, I'm going to hold you through. | ||
| I'm going to hold you through the break here because I have a lot of questions. | ||
| This is so powerful. | ||
| Your investigation here is just pretty shocking. | ||
| Go ahead and read, and then we're going to go to break. | ||
| Sure. | ||
|
unidentified
|
Sure. | |
| So this group, Freedom for Immigrants, helps train Americans to, quote, end detention. | ||
| So this group, Freedom for Immigrants, helps train Americans to, quote, end detention. | ||
| So that's abolish all ICE facilities in their districts. | ||
| So that's abolish all ICE facilities in their districts. | ||
| The Immigrant Home Foundation explicitly advocates for criminal illegal aliens to stay in the United States. | ||
| Immigration Forward is an NGO that lobbies to keep HIV positive illegal aliens in the United States. | ||
| The, quote, Black Immigrant Collective states that their goal is abolition of all detention centers and liberation for all black people. | ||
| You have the Immigrant Alliance for Justice and Equity of Minnesota, which explicitly works to get illegal aliens on public assistance programs. | ||
| And perhaps my favorite, you have a group that describes itself as a, quote, abolitionist organization that, quote, denounces white supremacy, the patriarchy and capitalism, and is, quote, pro-black, pro-brown, pro-indigenous, pro-queer, pro-trans, pro-sex worker, pro-worker, pro-woman and gender minorities. | ||
| And pro-Earth. | ||
| So these are the kind of groups that ActBlue is entangled with. | ||
| And I know people might say, oh, well, it's just a payment processor, but this will be my parting question until we go to Battleground. | ||
| If the equivalent of Win Red to the Republican Party, the financial backbone of the Democratic Party, is fully endorsing, if not outright funding that, which in effect turns into the full-scale invasion of this country, I mean, I think we can essentially say case closed on the idea that the Democratic Party is for the full-scale invasion of the United States, because that's what all these really, really, really radical groups, their explicit mission statements are, so you can only imagine how much worse it actually is behind closed doors. | ||
| We're going to talk to Cleo Pascal about the Drudge Mac Daddy over the weekend that says the Chinese Communist Party has made the Caribbean a... | ||
| Lake for the Chinese Navy and much, much, much more. | ||
| We've got so much to go to. | ||
| We're going to go back to Natalie at the White House. | ||
| Short commercial break. | ||
| We're going to leave you with the right stuff. |
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