March 15, 2025 - Bannon's War Room
48:14
Participants
| 
| Speaker | Time | Text |
|---|---|---|
| Republican bill to fund the government through September has passed a key procedural vote. | ||
| This is what inspired Donald Trump's thank you post to Chuck Schumer. | ||
| The Senate voted 62 to 38 to advance the bill. | ||
| Ten Democrats joined all but one Republican in voting yes. | ||
| Final passage of the bill is expected later today. | ||
|
unidentified
|
Do you think Democrats ever actually had leverage in this fight? | |
| What leverage do we have? | ||
| Democrats keep showing up at every night fight with a casserole, you know, and they have these cheesy paddles. | ||
| And then, you know, pick your fighter cheeseball stuff. | ||
| You know, where's your messaging? | ||
| And if you think now you're tough to shut the government down, then how do you get back in? | ||
|
unidentified
|
Because millions of Americans are going to be impacted. | |
| A lot of them aren't even going to get paid. | ||
| But they all get paid. | ||
| You know, what's the... | ||
| Exit ramp. | ||
| How do we even restart the government? | ||
| Why? | ||
| Because it's going to be under the terms of Musk and Trump and the GOP. And Democratic Congresswoman Becca Ballant of Vermont. | ||
| Congresswoman, why are so many House Democrats mad at Chuck Schumer? | ||
|
unidentified
|
Well, and I do want to say it is across the ideological spectrum in my caucus from blue dogs to progressives. | |
| People feel like this was a moment that was a test for all of our leadership and not to blink and not to cave. | ||
| And this funding bill is not a clean CR. It's not a clean continuing resolution. | ||
| It allows Musk and Trump to continue to wreak havoc on Social Security, Medicaid, Medicare. | ||
| It gives them a blank check to be mucking around in things they shouldn't have their hands in and trying to claw back money that we as Congress have already dedicated. | ||
| And so I want to be really clear that the statements that have been made by by me and others from my caucus are representative of the caucus as a whole. | ||
| And we also felt like... | ||
| Leader Schumer was not communicating well with our leader, and we took some really tough votes. | ||
| And this was such a show of strength and togetherness on the part of House Democrats, and I felt like what we saw from Leader Schumer was disorganization on his part. | ||
| Is it time for new leadership in the Senate? | ||
| Next question. | ||
| Senator Chuck Schumer is from your state. | ||
| He clearly has a different view of this than you. | ||
| He is not saying, let's go back to the negotiating table. | ||
| He's saying, let's take this vote. | ||
| So have you lost confidence in him, the fact that you guys see this so differently? | ||
| Next question. | ||
|
unidentified
|
Let me go back to my colleague's question. | |
| Can you clarify what you mean by showdown versus shutdown? | ||
| Wow. | ||
| And we came to show you that Congressman from New Hampshire was the most rational. | ||
| You came to show the screaming, yelling, complete total meltdown. | ||
| Hakeem Jeffries just said, next question, I'm not even going to address heaven is back because it's so far out of the league. | ||
| A full surrender. | ||
| Take your number two pencil out and write down clawback money. | ||
| The impoundments and rescissions are coming. | ||
| Remember the hardest part we had, you know, as hard as it was, it's Biden's numbers. | ||
| The $2 trillion deficit, but the one that's stuck in our crawl was all the work done on Doge to date. | ||
| You're basically financing that to the end of the year, unless somebody has the stones to do impoundments or rescissions in other things that they're working on. | ||
| And trust me, folks, those are coming. | ||
| And she knows it. | ||
| She says right there, they call back the money. | ||
|
unidentified
|
So... | |
| He made the decision, he said last night on Chris Hayes, it was about the courts. | ||
| And that's where we spent the first hour of the show going through this historic battle now, the legal battle, that President Trump, and that's a triumphant return to the Justice Department today. | ||
| Alex DeGrasse joins us. | ||
| Alex, you have your hand on the pulse of the House, but also the Senate. | ||
| This is a... | ||
| It's such a huge defeat for the Democrats. | ||
| I mean, they're finally getting some traction. | ||
| They've got these town halls yelling and screaming. | ||
| You know, Bernie Sanders is now back. | ||
| He's relevant. | ||
| You know, Rachel Maddow every night. | ||
| They're showing this resistance. | ||
| They're getting a little bit of traction in the courts. | ||
| Finally, they've got that guide on. | ||
| And then this is what rips your heart out. | ||
| This is soul-crushing, what happened today. | ||
| Alex DeGrasse. | ||
| Sort of, you know, in the weeds behind the scenes is that Hakeem Jeffries apparently was sort of caught off guard. | ||
| And so if they were coming into this with Schumer's plan where they were going to fold, they would have most likely given some more leeway to the more conservative moderate members who now are on record not voting to support basic things like border security and other political issues that will be used in Republican ads against some of these members. | ||
| I've heard they're really pissed. | ||
| New York is sort of the heart of it. | ||
| You saw Gillibrand and Schumer. | ||
| I don't know if you guys have put up the count because it just happened. | ||
| Ten Democrats voted to put this thing through both New York. | ||
| They're talking about AOC primary and Schumer. | ||
| I mean, people are melting down, especially in the House, because they're caught holding the bag, essentially. | ||
| See if that makes sense. | ||
| I know it does for the audience. | ||
| Hang on, but I want to connect the dots here. | ||
| The House actually, Hakeem Jeffries actually got the guys united. | ||
| I mean, Jared Golden from Maine, too, because he's in a tough district. | ||
| But he had the rest of the House, because normally 50 or 60 of these House guys vote to make up the votes in the House Freedom Caucus, right, who always vote no. | ||
| The dynamic was here quite differently, and Hakeem Jeffries had everybody set to basically fight, and that's where all these town halls, and they got all these people fighting. | ||
| Schumer never really read anybody into the plan, right? | ||
| This thing, everybody thought kind of going down that this is going to be united front and fight. | ||
| And then he kind of pivoted in the last 48 hours. | ||
| Is that why they're really steamed? | ||
| They got caught by surprise by Schumer's fold? | ||
| Yeah, I mean, Schumer... | ||
| To his credit, he's sort of a slick operator here in D.C. And I think they knew the polling. | ||
| We were looking at polling. | ||
| You know, for them to be on the side of not shutting down the government for essentially, I mean, it is a clean cigar. | ||
| This show's been hammering it, right? | ||
| We understand what it is. | ||
| It's almost like not bad for them in many regards, but they are living in fantasy land. | ||
| They can't even do the basics. | ||
| So the fact that he folded was eye-opening. | ||
| It's horrible that they made the Democrats walk the plank is the term that we call it in politics. | ||
| Walking the plank, you take a vote that you didn't need to take in theory. | ||
| And I think you're going to start seeing a... | ||
| You know, you saw President Trump put out the statement praising Schumer. | ||
| He knows what he's doing. | ||
| I mean, he's trolling with these people. | ||
| No one does it better. | ||
| They're absolutely melting down. | ||
| You see everything playing out on social media because they don't have a strategy. | ||
| They're leaderless. | ||
| The polling has never been worse. | ||
| They're in the gutter. | ||
| I mean, some of this stuff is manufactured among the base, you know, the town halls. | ||
| They've got the energy. | ||
| These people are kind of coming back again. | ||
| You know, the same people you mentioned, Matt, this, that. | ||
| It's just not the same as 2017. I think Schumer knows that. | ||
| And he knows if they were to go into a shutdown, they would implode. | ||
| Because President Trump would gut many of the unnecessary parts of the government, I'm sure. | ||
| And Republicans would take a hatch to this stuff. | ||
| And then they have no guardrails at that point. | ||
| So he just gave an interview to Annie Carney that I was reading right before this. | ||
| And he says, look, I'm the only guy that, you know, I'll take the bullets. | ||
| This is what we had to do. | ||
| We would have got buried in a shutdown. | ||
| And he's frankly right, actually. | ||
| One of the things also, Fetterman said the quiet part out loud, because they didn't have a plan, said, what's the endgame? | ||
| What's the off-ramp for us if we vote to shut this thing down? | ||
| And Trump keeps hammering. | ||
| Because this is the thing that's got him shocked. | ||
| And every time, and even sometimes in President Trump's first term, but always for Republicans, as soon as there's any resistance, the Republicans always fold. | ||
| President Trump right now, whatever your vertical is that he's working on, And this is why the triumphant return to DOJ Day, for him to say, hey, look, we're only starting cleaning this mess up, but we're going all in, is that Trump and any resistance, it's all gas and no brake. | ||
| All gas and no brake. | ||
| And that's what the Democrats have never seen this before. | ||
| So Fetterman was saying... | ||
| If we do do this, tell me what our solution is. | ||
| And Trump guts us over the next four weeks. | ||
| How do we actually have an off-ramp to actually reopen the government? | ||
| Because Trump's just going to be Trump. | ||
| I mean, is that basically their theory of the case behind the scenes? | ||
| Yeah, that's the theory. | ||
| They wouldn't be able to survive a shutdown. | ||
| You know, Schumer, I think, played around with this once when President Trump was in the first term, if you remember. | ||
| It didn't last that long. | ||
| For whatever reason, Democrats just, when they enter the shutdown, they implode. | ||
| I mean, I think too much of their base is tied to the government, you know, and tied to getting paid, and people start freaking out. | ||
| And so they can't, they're beholden to that. | ||
| So I think... | ||
| What you've always said, Steve, is we have a ton of leverage on the shutdowns. | ||
| So, I mean, that's just something to think about as we go forward in general as Republicans. | ||
| But the polling's on our side. | ||
| I mean, their image of the Democrat Party is like 25%. | ||
| In battleground seats, it's like even less, 20. You know, I mean, no one has seen numbers like this, and you don't really see the media talking about it. | ||
| And it's unbelievable. | ||
| In my lifetime, we've never seen anything like it. | ||
| The Democrat brand is a disaster. | ||
| Disaster. | ||
| And it's going to even get worse because they're not fighting for people. | ||
| That's what's killing them. | ||
| Before I let you go, because this audience is everything. | ||
| This is what's brought us to victory. | ||
| You get Trump back here. | ||
| He's got the right-to-life guys, their freedom just across the board. | ||
| Wisconsin. | ||
| One more time. | ||
| How important, Wisconsin? | ||
| You're the guy that basically saved the republic by getting this audience involved years ago in redistricting, which everybody said these redistricting things are all an insider's game. | ||
| We proved that political muscle. | ||
| Of the grassroots can do it. | ||
| I tell you what, stay right there. | ||
| I've got Boris Epstein calling from over at a prominent building on 1600 Pennsylvania Avenue. | ||
| Boris, today your team actually not only won, but it was amazing to see them there at the podium talking. | ||
| Give us your thoughts, particularly some of the dark days of 21, 22, and early 23, sir. | ||
| And you know what? | ||
| Summer 24, too, Stephen. | ||
| But don't forget, we had a trial in 2024. The fake news, absolute return of a trial in New York, which President Trump and the team had to persevere through. | ||
| It was an honor to be there, President Trump, with an absolute powerhouse speech, crushing weaponization, crushing lawfare, and ringing in what is a new day in law enforcement and the American system of justice. | ||
| It was great to see Todd Blanch, Emma Bobe, of course, the Attorney General of the United States, Pam Bondi. | ||
| It was a big day, and it's another moment for us to look back and see how far President Trump has brought this country in just a short 50-plus days. | ||
| Boris, Julie Kelly brings up today that a year ago you guys were down in front of Judge Cannon. | ||
| On the documents case, actually, in court. | ||
| If you had pitched this, particularly because you had to put together a great team, but kind of a makeup team, because all the big law firms shut us out. | ||
| If you had pitched this to a Hollywood producer that, hey, here's the story, and at the end they're all going to be at the Justice Department, running the Justice Department, and Trump's going to walk in triumphant, you would have got thrown out of the room. | ||
| What are your thoughts on the arc of this journey? | ||
| You know, I believe that in the end, President Trump has had faith and God behind him. | ||
| I think the American people see what it is to have a real leader. | ||
| And that's why, as you know, Steve, from that moment that I called into this show on January 20th, 2021, from Joint Base Andrews when President Trump took off for Florida, I told you then that I was confident that President Trump will be back. | ||
| In the Oval Office, I was confident that the bad forces in America would be defeated. | ||
| I've stayed confident throughout. | ||
| I'm so proud of the team that President Trump has led, that defeated lawfare, that defeated the greatest weaponization of justice in not just America, but world history. | ||
| There's never been a lawfare campaign such as the one that Todd Blanche, Amo Boleby, and so many more lawyers defeated in working together under the leadership of President Donald J. Trump. | ||
| As you said, Hollywood wouldn't believe it, but we did throughout. | ||
| And again, it is a moment of pride. | ||
| It is a moment of honor. | ||
| And most importantly, it's a moment of patriotism. | ||
| Last thing, President Trump today also, I think, energized everybody by saying, hey, he's not going to rest until all of this is set right, that this will— It's not about him, but he's going to make sure with the work that that team does at Justice, at Maine Justice, and the U.S. attorneys and all of it, and with confirmation of a new set of judges, that he's going to set things right. | ||
| And this will never be allowed to happen again, no matter the political beliefs or persuasions of any president or his administration. | ||
| This will never be allowed to happen again. | ||
| Am I correct in that, sir? | ||
| No doubt about it. | ||
| America is back. | ||
| The American justice system is back. | ||
| American democracy is back. | ||
| Overwhelming victory, the huge mandate given to President Trump by the American people. | ||
| We've rescued our country, I must be honest, from the absolute edge of a cliff, because that's where the radical lunatics and Democrats were driving it. | ||
| President Trump is now in full control. | ||
| You're seeing everything he's doing on every single part of the spectrum, from the economy to foreign relations, national security, ending wars, and again, ending weaponization and lawfare. | ||
| Success unlike anything this country's ever seen, and that's why everybody's energized, everybody's optimistic. | ||
| Even the Democrats can't deny the power, can't deny the strength. | ||
| It was an honor for me to be there today and to be a small part of the team. | ||
| Now, since you're such a big shot, I haven't had enough opportunity to say you're coming in hot on social media. | ||
| What's your social media, Boris? | ||
| I am coming in hot. | ||
| It's at Boris EP on Twitter, at Boris EP at True Social, and coming in hot on the gram, Boris underscore Epstein. | ||
| Stay strong. | ||
| God bless. | ||
| It's a new day in America. | ||
| Shabbat Shalom. | ||
| Boris Epstein joins us. | ||
| Thank you very much, sir. | ||
| Great job. | ||
| Historic job. | ||
| Let's go back. | ||
| We have a few more minutes for DeGrasse. | ||
| Okay, fine. | ||
| He's going to get that camera right and join us back. | ||
| Historic day. | ||
| President Trump, if it had been a movie script, folks, and for you that have been with us for four or five years, you understand that against the longest of odds in that entire team that we followed so closely through all those trials and all those indictments from Atlanta to New York City to Miami to Washington, D.C., all of it. | ||
| Those folks today are running the Justice Department. | ||
| They're the senior leadership of Maine Justice. | ||
| Do you understand? | ||
| Because the way that the progressive left, and this is why it started with Wilson, right? | ||
| Went through FDR all the way to the Watergate. | ||
| The way they understood that they could get control of us through the lawyers. | ||
| You know, I came from Wall Street and then from Hollywood. | ||
| And in Wall Street, you obviously have these huge white shoe law firms. | ||
| You're going to let me know as soon as DeGrasse is ready. | ||
| I don't want to slow him down. | ||
| I know he's got to be somewhere. | ||
| That they run, you know, obviously the capital markets and investment banking have lawyers. | ||
| In Hollywood, it's lawyers all over the place. | ||
| And it's very legal out in L.A. and very litigious. | ||
| But they don't actually run the city like they do the imperial capital. | ||
| It is the law firms, the big law firms, that run the imperial capital. | ||
| Because most of these guys are lawyers. | ||
| And that's what President Trump, he just knows. | ||
| And he's just, he's had this pickup team. | ||
| They won, and now they're in Maine Justice. | ||
| And when you see Weissman, these guys tonight, there'll be a full trauma, there'll be trauma on MSNBC tonight as they go through this. | ||
| Alex O'Grath joins us. | ||
| Alex, you were the one that brought to this audience, first time ever. | ||
| A grassroots audience on a national basis to say, hey, look, there's this thing called redistricting. | ||
| It's done at these state legislatures and these courts, and you've got to get involved. | ||
| I just want folks, one more time, before the early voting in person starts next week, we get everybody up on the ramparts, how important Wisconsin is. | ||
| And they've got all these issues for Wisconsin. | ||
| They've got voting issues. | ||
| They've got Second Amendment issues. | ||
| They've got right-to-life issues. | ||
| And for the state of Wisconsin, this couldn't be huge, bigger. | ||
| This has national and therefore global implications. | ||
| It's a 6-2 right now, congressional delegation. | ||
| And she's on record. | ||
| I think she's sending out emails and fundraising. | ||
| The focus is get it to 4-4 to pick up two seats. | ||
| And if they do that, folks, we're going to have a dogfight anyway. | ||
| People should just understand that. | ||
| But this is going to be quite tough. | ||
| Alex O'Grath, your thoughts on Wisconsin, sir? | ||
| Yeah, so rewind back. | ||
| Every 10 years, we do the census. | ||
| Then we do redistricting two years after that. | ||
| So it was 2022 where the posse stepped up. | ||
| Florida, boom, boom. | ||
| Tennessee, we go down the list. | ||
| We got it done. | ||
| That's what delivered us the House. | ||
| There's no doubt about that from a structural point of view and what's held it. | ||
| But what's really bizarre is that the Democrats are so weaponized and so ruthless, like they are on every front, that they're able to somehow claim that they can redraw Wisconsin's lines in the middle. | ||
| You know, of the 10-year term for these maps. | ||
| So it's just frankly bizarre and illegal, I would argue. | ||
| And so they're open about it and blatant. | ||
| They would steal the republic right from us if they had the opportunity to. | ||
| It's going to be $100 million on the table that we can even count. | ||
| That's not counting the untrackable money that the Democrats are really pros at through LLCs and all these Arabella. | ||
| You know, Natalie Winters is always talking about it. | ||
| This thing is the whole ballgame, frankly, over the next two weeks. | ||
| We need everyone to dig deep. | ||
| Get your list. | ||
| Ten people. | ||
| You can call from anywhere across the country. | ||
| If you're in Wisconsin, you've got to get involved. | ||
| You've got to donate your time, your money, whatever we can. | ||
| Spread the word. | ||
| It's a turnout race because it's sort of at an odd time. | ||
| Not many people are paying attention. | ||
| It will be who wants it more. | ||
| The posse's got to come up big because we will have the opportunity to clean the rolls. | ||
| Everything that we want to do will get done if we flip the court, of course. | ||
| Allison Grasse, I know you've got to go tonight on something very important, religious-oriented. | ||
| Allison Grasse, we're very proud of you, young man. | ||
| Thank you. | ||
| Social media, sir, where do people go to follow you? | ||
| Degrass81 on X, Getter Truth. | ||
| I can't stress Wisconsin enough. | ||
| Thank you, Steve, and thank you for the posse, for all of that work redistricting. | ||
| And I love when people come up at the airports and want to talk about how they were involved. | ||
| It's great. | ||
| So thank you, guys. | ||
| Thank you, bro. | ||
| Thanks for the update. | ||
| Massive win from President Trump today. | ||
| The government stays open. | ||
| And I'm telling you, remember what the congresswoman, the congressman from New Hampshire said? | ||
| Hey, these guys are going to claw back money. | ||
| Wait for it. | ||
| So, and hopefully as early as next week. | ||
| We'll get you up to date on tomorrow's show. | ||
| Okay. | ||
| Ed Dowd, one of the smartest guys I know from Wall Street. | ||
| You've put together, I guess you're a kind of metric model for 2025. I want to take a few minutes. | ||
| And, hey, we're going to give it to you with a bark on, folks. | ||
| This is Ed's work and do some numbers. | ||
| So, Ed, walk us through what you anticipate happening. | ||
| You know, Scott Besson saying, hey, look, if we just kept spending money, everything would be fine, but we can't. | ||
| Ray Dalio saying we could have a sovereign debt crisis. | ||
| We've got to cut the spending. | ||
| What do you say? | ||
| Talk to me about your thoughts about the economy. | ||
| Yeah, so thank you, Steve. | ||
| Yeah, we issued a U.S. economic report, dangers of a deep worldwide recession in 2025. It's available for sale to institutional high-net-worth individuals, family offices, and RIAs. | ||
| It's an institutional quality product, but I want to give your viewers a sense as to what we're talking about. | ||
| Bottom line, the government spending really supported the economy for the last few years, and it was primarily government spending and legal immigration. | ||
| And I guess what we're finding now is funding a bunch of NGOs to enable the illegal immigration. | ||
| And that's all going the other way. | ||
| Without the government spending, we probably would have dipped into a recession. | ||
| I have one chart. | ||
| The second chart that I gave your producer shows exactly what I'm talking about. | ||
| It's got the PMI and the GDP growth. | ||
| There it is. | ||
| If you look to the right, you can see the gap between GDP and PMI. PMI has been below 50. And so we've been in a recession, essentially in the real economy. | ||
| And the GDP was floated by $2 trillion deficits, government spending and illegal immigration. | ||
| And that is unsustainable. | ||
| That's why Donald Trump was voted in. | ||
| The middle class was already in a recession. | ||
| And the illegal immigration was disrupting the societal fabric of the country. | ||
| And I want to point out to your viewers, the numbers are huge. | ||
| Legal net immigration is a million a year. | ||
| We blew that out. | ||
| We have 10 million border encounters we know about. | ||
| It's probably 15 to 20. That's a total distortion of our economy. | ||
| The multipliers on bringing legals in and giving them rental accommodations and stimulus, not to mention the logistical monies given to NGOs to get people here and set up. | ||
| It was just a massive, massive fraudulent spend, in my humble opinion, because obviously they broke the law to do this. | ||
| And that's basically what Scott Besson is talking about. | ||
| It has to be reversed. | ||
| That's why Donald Trump was elected. | ||
| And unfortunately... | ||
| Go ahead. | ||
| Hang on. | ||
| Hang on. | ||
| I just want to make sure analytically, because you're you're an analytical guy, you're a numbers guy. | ||
| You're showing what we've been saying is that the Biden with this massive deficit, this Keynesian infusion, that if you took out the government spending and you took out the illegal aliens, which came in. | ||
| Obviously, if you have more people, you're going to have higher GDP. | ||
| We would have been in not just a recession, maybe a pretty significant recession during Biden's thing. | ||
| It was all just printing money that kept it afloat and had any kind of phony nominal economic growth. | ||
| Correct. | ||
| Is that what your model shows? | ||
| Yeah, and let's go back to a couple of years ago. | ||
| I came on your show and told you we were predicting a recession for the end of 23, beginning of 24, as we were among a lot of notable economists. | ||
| And we got it wrong. | ||
| And we were wondering, how did we get it wrong? | ||
| Have the laws of economic fundamentals changed? | ||
| So we reverse engineered it, and this is what we discovered. | ||
| And obviously, this was not sustainable. | ||
| Trump was elected to basically eradicate this. | ||
| It's going to bring, unfortunately, some economic pain. | ||
| And more importantly, what a lot of people aren't talking about is how the illegal immigration kind of held up the housing market. | ||
| And they didn't necessarily buy new homes or starter homes, but they were renters. | ||
| And that flowed through the system and held up housing prices, which are stagnant to dropping now. | ||
| And we have a... | ||
| A chart I'd love to show that's kind of a money chart for us, a nugget in our report that we're selling. | ||
| If you want to put up the next chart, I'd appreciate it. | ||
| Yeah. | ||
| And what does this chart tell me? | ||
| This chart shows building permits in red, annual housing stock growth in population, and the dotted line is illegal immigration. | ||
| And you can see the big dip was due to COVID deaths, excess deaths. | ||
| And you can see that new permits are already rolling over, and that's a great lead indicator for housing prices. | ||
| And you can see the massive influx of legal immigrations to the housing stock. | ||
| Granted, they didn't buy homes, but they supported the housing market. | ||
| And as we reverse all this, we're going to have a 2008-2009 housing crisis. | ||
| We're going to have one internationally as well. | ||
| We detail that in our report. | ||
| And it's coming, and there's nothing you can do about it. | ||
| Demographically, the millennials are peaking out in their prime purchasing age group in 2026. So this is endogenous to the U.S. economy. | ||
| There's nothing we can do about it. | ||
| We just have to live with it. | ||
| Ed, I want to hold you through the break. | ||
| And man, oh man, the last 30 minutes of the show, the last 22 minutes of the show, is going to be on fire. | ||
| I've got John Lechner on the surrounded Ukrainian army in Kursk. | ||
| Spencer Morrison's here about to reverse the lies about tariffs. | ||
| I need to add doubt about Ray Dalio saying we're going to have a sovereign debt crisis. | ||
| And I've got Kevin Dolan is going to be on here to talk about a very important conference coming up in Austin, Texas, New York, to understand. | ||
| It's going to be wild, but we're going to get it all done. | ||
| You know why? | ||
| This is a triumphant Friday. | ||
| These don't happen that often, folks. | ||
| Birch Gold, when Ed Dowd comes back, this is, you know, and I'm trying to get Philip Patrick on because there's some underlying issues with gold as a hedge. | ||
| Gold's on fire. | ||
| It's not supposed to actually act like this. | ||
| It's supposed to be a hedge and a store of value. | ||
| Birchgold.com. | ||
| Slash War Room, or Slash Bannon, actually. | ||
| That would be me. | ||
| You get the end of the dollar empire, including the sixth free installment. | ||
| They're all free, but you get the sixth free installment. | ||
| Modern Monetary Theory, the idea that broke the world, and Ray Dalio would agree with that. | ||
| He doesn't agree with War Room on much. | ||
| Short commercial break. | ||
| an entire all-star team next. | ||
| Here's your host, Stephen K. Mann. | ||
| you Folks, we are going to need you. | ||
| The reason we had these victories today, whether they're Catholics in Morristown, New Jersey, or whether there's President Trump's triumphant return to the Justice Department, or whether it's Schumer surrendering, it's because of you and your ability to man the ramparts. | ||
| HomeTitleLock.com. | ||
| Make sure that you're not wrapped up in somebody monetizing your title to your home, your real asset. | ||
| You've heard Dow say how hard it is even to get in a house. | ||
| If you've got one, make sure you keep it. | ||
| Home Title Lock, the million-dollar triple-lock protection. | ||
| 24-7 coverage. | ||
| If anything happens in the middle of the night, anytime, boom, you get an alert. | ||
| And then you've got $1 million restoration program to back you up. | ||
| Natalie Dominguez and the entire team there are already standing by to talk to you about this. | ||
| What do you do? | ||
| You go to HomeTitleLock.com. | ||
| Steve25. | ||
| Do it today. | ||
| Hear what they have to say at Home Title Lock to make sure you can still man the ramparts. | ||
| We don't have time to play it because we are pressed for time. | ||
| Ed Dow, we're going to have you on next week on The Morning Show to walk through this in more depth. | ||
| Because it's pretty shocking. | ||
| It reinforces something we've been saying about this out-of-control government spending that Scott Besant says that he and Trump are going to take on, and that's what this whole thing today on the CR was. | ||
| It all ties together. | ||
| But one thing Ray Dalio has said, brother, and you just tweeted it out, about a supply-demand mismatch about selling, I don't know, $10 or $12 trillion of government securities this year to refinance this $36, $37 trillion debt. | ||
| Is Ray Dalio telling us in so much Wall Street jargon that we're going to have a sovereign debt crisis, sir? | ||
| I don't believe we're going to have a sovereign debt crisis. | ||
| I think Bank of Japan is first up for that. | ||
| And, you know, look, I'm bullish on long-term Treasury yields. | ||
| They're going lower and prices are going higher. | ||
| If we're right on our U.S. economic report, yields will go down. | ||
| The Fed will have to cut. | ||
| And I think Scott Besson, due to this restructuring of the economy, will get a recession, not because, you know, his policies caused it. | ||
| It just couldn't go on and it had to stop because no one wanted to bring in, you know, three to four million illegals every year that just destroys the culture. | ||
| So we're going to see yields go lower and he's going to be able to term out the paper on a long-term basis. | ||
| I have no doubt in my mind. | ||
| We'll see. | ||
| Long bonds in 10 years, a lot lower when this is all said and done. | ||
| We're going to put Ed Dowd on the sales desk. | ||
| Ed, where do people go over the weekend on social media to learn more about your report? | ||
| We'll have you on back next week. | ||
| Where do folks go? | ||
| People can go to financetechnologies.com, PH, instead of an app, to buy the report. | ||
| Again, it's priced for institutional investors, high net worth, and people that have a lot of assets of other people's money to manage. | ||
| You can also follow me on Twitter at DowdEdward, D-O-W-D-Edward, and getter at Edward Dowd. | ||
| Your stuff is on fire, sir. | ||
| People got to follow you on social media. | ||
| You're putting up great stuff all the time. | ||
| Thank you, Ed. | ||
| Appreciate you. | ||
| Thank you, Steve. | ||
| Spencer Morrison, an integral part of this is tariffs. | ||
| That's all they're doing now. | ||
| Dowd came back $600. | ||
| I think it added a trillion dollars in market cap today, so everybody take a deep breath. | ||
| But it's just relentless lies and misrepresentations. | ||
| I understand your book is getting a broad reading inside the Executive Office Building and the White House. | ||
| Reshoring is the book. | ||
| It's a must-read now. | ||
| The timing is exquisite. | ||
| I want to give Gray Delaney and the team over there at Calamo just incredible about the timing. | ||
| But when I hear it all day long, and we had Rickards on this morning, it says it's relentless. | ||
| When you say every show, every business show, MSNBC, CNN, people don't know what they're talking about. | ||
| They're saying this is nothing but a cruel tax on the poor. | ||
| These tariff people, these are all billionaires who want these tariffs. | ||
| What is your response, Spencer Morrison? | ||
| Well, the reality is that the media parrots what they're told to talk about. | ||
| This is the top-down talking points from the elites, whether they're from Wall Street or Davos more broadly. | ||
| The reality is that the academy that's coming up with these talking points is disconnected from reality. | ||
| They're mistaking their economic theories for economic realities. | ||
| Things like comparative advantage are based on false presumptions rather than on historical evidence. | ||
| So part of the reason that all of the evidence, and I mean all of it, Coming out of the mainstream media is wrong is because the theories that they're basing their comments on are completely wrong. | ||
| And then the second issue is that the financial interests that prop up a lot of these news rags, they're corrupt. | ||
| Economic globalization and offshoring has created enormous amounts of wealth and profit, but that profit hasn't gone to the American people. | ||
| It's been going to a select few, the people that own the system, right? | ||
| It's going to the empire's corrupt elites. | ||
| And I'd just like to talk very briefly about the reality of tariffs. | ||
| Tariffs are not likely to increase the cost of goods, not in the short term, and they're actually going to drive down prices in the long term. | ||
| In the short term, you're not going to see much impact because Americans can just buy American and they're not going to pay the tariff, right? | ||
| The price difference between American products and Chinese products is on average like 4%, which means that you could put 100%, you could put 1,000% tariff on Chinese goods. | ||
| It's not going to raise the cost of goods by double or 10 times. | ||
| You're going to buy the American good. | ||
| It's going to raise the cost to the American good, which is a couple of percent. | ||
| So tariffs are not the boogeyman, right? | ||
| The other thing that's really important to remember is that tariffs are going to reshore our factories. | ||
| And manufactured goods are subject to the law of what's called increasing returns. | ||
| That means the more goods you make, the cheaper the goods become, right? | ||
| So if America were to make more goods in American factories, we're actually going to lower the cost of goods in the long run. | ||
| And that's going, you know, so tariffs, you know, on a five to ten year horizon. | ||
| They're going to lower the cost of goods. | ||
| They're going to make us richer. | ||
| And the third point that I just need to make here, the only way, the only way that goods go down historically is when we increase productivity, when we invent and when we innovate and we implement new technology. | ||
| And you know what the best catalyst for that is? | ||
| The best catalyst is high labor prices, right? | ||
| So when we reshore our factories from places where labor is basically free, like China. | ||
| We're going to reshore those factories, bring them here, and there's going to be a really big economic incentive to invest in new technologies, which is ultimately going to bring the cost of goods down in the long run. | ||
| And that was the historical paradigm for hundreds and hundreds of years. | ||
| People were innovating and making factories more efficient. | ||
| When we shipped the factories abroad, the factories actually got less efficient because they didn't care about investing in labor-saving technology. | ||
| So when we reshore the factories, we're going to have more technology, more innovation, and that's going to make... | ||
| Man, it is so amazing that that pitch you have is incredible. | ||
| And the book is now, I know, being read widely in the The book, where do we get it, Spencer? | ||
| It's a must-read, particularly for today's economy. | ||
| Where do people go? | ||
| Thanks, Steve. | ||
| I really appreciate it. | ||
| The book, it's available on Amazon. | ||
| I hear it's sold out right now. | ||
| So if you go, I think you can still get it directly from the publisher. | ||
| So if you go to Calamo, I think it's calamopress.com, you can get the book directly from them. | ||
| Or just wait until next week. | ||
| We should have some more books coming in. | ||
| I love it, dude. | ||
| War and Posse. | ||
| People love this book at every level, and it is exquisite timing. | ||
| Social media, where do they go, Spencer? | ||
| I'm available on X. It's Real S.P. Morrison. | ||
| You can also check out my work on the National Economics Editorial, and I have a column on American Greatness on Enblaze Media. | ||
| Thanks a lot, Steve, and just God bless you for getting this message out. | ||
| No, it's you, brother. | ||
| We just provide the platform. | ||
| You're the man. | ||
| Incredible work and incredible way you've thought it through. | ||
| Thank you, Spencer. | ||
| Love you, brother. | ||
| John Lecter here early in the week, and much of this debate going on, death is our business. | ||
| He talks about the mercenary armies of Russia, but he also talks about people who are to the right, the ultra-nationalists to the right. | ||
| I know this sounds odd if you've watched mainstream media. | ||
| Putin actually might be described as a moderate, given some of the stuff's going on. | ||
| We've only got about five minutes, John, but I've got to ask you a point-blank question. | ||
| Putin's saying, hey, look, you know, this army, the Ukrainians are in Mother Russia, have got to go, right? | ||
| Talk to us about that. | ||
| Are they really surrounded? | ||
| Is this going to get even more violent? | ||
| Is there some way to negotiate this out? | ||
| And do you think this peace deal is predicated upon this, particularly as Putin's got guys, Yeah, thanks for having me on again. | ||
|
unidentified
|
I think from what I've been hearing on the ground, the Ukrainians are retreating. | |
| In some cases, it's chaotic, but they aren't currently fully surrounded by the Russians in the region of Russia that they went into, which is called Kursk. | ||
| But for Putin... | ||
| And for the Russians more generally, look, we're going into a peace deal. | ||
| Usually when you go into these negotiations in a war, one side is in a stronger position than the other, and they're going to look to take as much advantage of that as possible, and that's what the Russians are looking to do. | ||
| For Putin, as you mentioned, his biggest fear is to the folks on the right of him, right? | ||
| That's where you have the Russian nationalists, the right wing, which has a degree of support within Russia's security services. | ||
| It's important for him to portray himself as sort of the savior of Russia who is solving this problem for them. | ||
| And in order for him to do that, he has to be able to sell whatever he's bringing back from a peace deal as victory to the Russian public. | ||
| And one thing that would certainly not constitute a victory is if Ukrainians still hold actual Russian territory. | ||
| What I think you're looking at right now is an effort by the Russians to get the Ukrainians out of the Kursk region so that they're more ready for a ceasefire that's even more on their terms than it was beforehand. | ||
| This is of the entire war. | ||
| This is, I think, the most brilliant stroke of Zelensky and his military command. | ||
| This is sacred space in Mother Russia. | ||
| Kursk is the largest tank battle in history. | ||
| I think they had 6,000 tanks, 2.2 million men, even probably more than Stalingrad. | ||
| And you're talking about two of the biggest battles in mankind's history. | ||
| For the Ukrainians to get up there and get close to taking that territory, it was looked at as an affront. | ||
| Oh, absolutely. | ||
|
unidentified
|
I mean, this was something that was an incredible affront, I mean, for the guys who fought in Wagner, the guys that I interviewed for my book. | |
| You know, again, this was an existential thing. | ||
| The last time Russia had been invaded by any force within its kind of traditional territory was, like you mentioned, in World War II. And that war has As it does for Americans, but also for the Soviets and the Russians, an incredible historical resonance. | ||
| And so it is important to Putin, therefore, that he be seen, again, as the strong nationalist leader, as sort of the leader of the Russian nationalist movement. | ||
| And that can't work as long as the Ukrainians are still in Russian territory. | ||
| I've got about two minutes. | ||
| Tell me, how do you think this develops over the next 72 hours? | ||
| Did we have you back on early next week? | ||
| How do you think this develops? | ||
| Because I think people, you know, his position, President Trump looked like he reached out and was trying to get something done. | ||
| He came back with a maximalist, you know, I need all territory. | ||
| We need all this. | ||
| I mean, it was like up in your grill. | ||
| And you kind of thought, well, I guess we're not going to get a ceasefire. | ||
| What are your thoughts, sir? | ||
|
unidentified
|
Well, look, it's going to be a long process no matter what. | |
| I mean, even if—and I know there's a lot of folks who served in the military before, so they'll know this. | ||
| I think even a ceasefire itself is something that is going to be very difficult to achieve because this is a long front at this point with two humongous militaries, mostly filled with conscripts, so people who haven't fought as professional soldiers but were drafted or conscripted at some so people who haven't fought as professional soldiers but were drafted And they're facing off against each other. | ||
| There's no trust. | ||
| And so there's absolutely going to be violations as well. | ||
| And I think the Russians have even alluded to it that neither the Ukrainians nor the Russians will fully be able to control what's happening along that front. | ||
| It's not like the movies on World War II where an armistice is declared and people come up from the trenches, right? | ||
| There's still a lot of fear. | ||
| There's still so much kind of that is uncontrollable along that front line. | ||
| And so there's going to take some time to even figure out what sort of enforcement mechanisms we can have for a ceasefire as well. | ||
| But the violations will absolutely be there no matter what. | ||
| Ian Bremmer confirmed to me today that his calculation is 850,000 plus dead and wounded in the Russian army alone. | ||
| Incredible. | ||
| The scale of this is almost incomprehensible. | ||
| John, your book is a must-read if you want to understand, really, what's going on in Russia today. | ||
| Where do people go to get it, and are you going to do any more signings, book signings, where people can get to meet you? | ||
|
unidentified
|
No book signings, unfortunately, next week, but you can go order Death is Our Business on Amazon or visit your favorite bookstore. | |
| It's in all the stores. | ||
| Death is our business. | ||
| John Leichner, you will not put this book down. | ||
| It reads like a novel. | ||
| John, thank you so much for making us think this thing through this weekend. | ||
| Appreciate you. | ||
| See you next week. | ||
|
unidentified
|
Thank you, sir. | |
| Death is our business in reshoring. | ||
| You can get smart on two incredibly important topics for President Trump and our movement. | ||
| And I'm so proud that the reshoring is actually sold out, at least from his first printing. | ||
| Do we have Kevin Dolan? | ||
| Kevin Dolan joins. | ||
| Kevin, describe, you've got a big conference coming up in Austin, Texas. | ||
| It's controversial. | ||
| I know it's good because the Guardian's already gone and said, you people are the worst people on earth. | ||
| But Terry Schilling and others are going to be there and say you're pretty good folks. | ||
| Tell us, what's the name of your organization? | ||
| What's the conference? | ||
| When's it going to be? | ||
| And how can people participate or watch it or whatever, sir? | ||
|
unidentified
|
It's wonderful to be here, Steve. | |
| Thank you. | ||
| It's natalconference2025natalism.org. | ||
| And yeah, I mean, frankly, the media's got this completely wrong. | ||
| It's a nonpartisan issue. | ||
| Pretty much everybody wants to have families. | ||
| They want to have kids and grandkids. | ||
| And the challenge of our time is not sort of beating people over the head. | ||
| But hang on, Dolan, Dolan, Dolan, Dolan, Dolan. | ||
| Hang on, hang on. | ||
| I understand you're some crazy mick. | ||
| But, dude, we've got 8 billion people in the world. | ||
| Your promotion is we need more babies. | ||
| Am I correct on that? | ||
| We need more babies. | ||
| Don't we have enough? | ||
| Don't we have 8 billion people? | ||
| Why do we need more babies, brother? | ||
|
unidentified
|
So your prior guest spoke about the Bank of Japan facing a sovereign debt crisis, and the Japanese have been—they've had impeccable game for pretty much that entire time. | |
| I mean, they're working really hard on productivity. | ||
| They're working really hard on educating their kids in STEM. But the bottom line is there's only two ways an economy can grow. | ||
| It can grow through population growth or it can grow through technological advancement. | ||
| And basically what every Western country in the world is facing right now is a situation where our degrowth, our decline, is completely incompatible with economic growth. | ||
| And what that means is that all sorts of... | ||
| I mean, the way that your mortgage is priced, the way that your 401k is priced, the way that the dollars in your checking account are valued, all of that is based on systems that are predicated on leverage that require the promise of future growth to make capital markets work. | ||
| And so this is a collapse that's coming for every rich country and almost every poor country, actually. | ||
| And so it's going to be... | ||
| It's going to define the 2030s. | ||
| Basically, how nations and communities handle this issue is going to define the 2030s. | ||
| So this is going to divide the 2030s. | ||
| Natalism is what? | ||
| The movement for people to have more babies, to have bigger families? | ||
| Is that what it is? | ||
|
unidentified
|
Well, essentially, it's just about... | |
| Making sure that people can have their desired fertility. | ||
| I mean, if everyone in America, if everyone in Europe achieved what they say they want in terms of their family size, there would be no demographic issue. | ||
| And we would have a very stable... | ||
| It doesn't have to be, like, infinite, you know, everybody having nine kids. | ||
| 2.1 is what you need for replacement. | ||
| And if everybody were achieving what their desired fertility is... | ||
| We would be there. | ||
| It would be stable. | ||
| There'd be no problem. | ||
| The issue is that people are not actually achieving what they want. | ||
| And that, I think, is how this has been mischaracterized in the media, is that this is something that we have to push on people or force on people. | ||
| And that's not it at all. | ||
| It's about empowering people. | ||
| It's about helping people get what they want. | ||
| Okay, I want to go. | ||
| We're going to have you back on tomorrow. | ||
| We're going to restructure the thing. | ||
| I want to have this. | ||
| The conference is when... | ||
| Is it limited to people who can come? | ||
| Is it going to be streamed? | ||
| What's your website? | ||
| How do people get more? | ||
| We want to get our audience smart. | ||
| These people are into the details. | ||
| They're into the receipts. | ||
| So where do they go? | ||
|
unidentified
|
Yeah, March 28th and 29th in Austin, Texas. | |
| Yeah, it's natalism.org. | ||
| You can check it out there. | ||
| And you can get on the mailing list and get updates. | ||
| We have all the videos from last year live on YouTube at Natal Conference. | ||
| So you can check that out there. | ||
| And it won't be live streamed, but we will be posting the videos shortly after the conference. | ||
| So go ahead and check that out. | ||
| Okay, and your social media, where do people go to find out more about you and your movement? | ||
|
unidentified
|
Yeah, so natalism.org on X is the URL. Thanks. | |
| Thanks, Steve. | ||
| Kevin, thank you so much. | ||
| We look forward to having you tomorrow. | ||
| It's amazing. | ||
| Absolutely amazing. | ||
| Birch Gold. | ||
| Today goes over $3,000 trillion added to the stock market. | ||
| Turbulence, turbulence, turbulence. | ||
| Take out your phone and text Bannon, B-A-N-N-O-N, at 989898. And get and sign up for the ultimate guide for the purchase of gold and precious metals in the era of Trump. | ||
| And folks, we are in the era of Trump. | ||
| So do it today. | ||
| And you get access to Philip Patrick and the entire team. | ||
| Just so much amazing stuff. | ||
| I want to thank the production team, Denver, my production team here. | ||
| What a show. | ||
|
unidentified
|
Wow. | |
| That was two hours of pure energy like President Trump's showing. | ||
| We're going to be back tomorrow at 10 a.m. | ||
| Eastern Standard Time for our Saturday show, my favorite show of the week, and I will commit to you, guaranteed, we're going to be on fire. | ||
| We're going to leave you now with the right stuff off a masterpiece book by Tom Wolfe. | ||
| A brilliant movie by Philip Kaufman. | ||
| And Academy Award winning music by Bill Conte. | ||
| We'll see you tomorrow morning at 10 a.m. |
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