April 4, 2025 - Bannon's War Room
48:57
Participants
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| Speaker | Time | Text |
|---|---|---|
| Street Fighter and a Pirate. | ||
| How's that? | ||
| Street Fighter and a Pirate. | ||
| Gangster and Pirates, that's what it is. | ||
| Bowling, I'm in. | ||
|
unidentified
|
Gangster and Pirates, I love them both. | |
| Have a great weekend, Steve. | ||
|
unidentified
|
Have a great show. | |
| We'll talk to Rob Sigman, we'll line that up. | ||
| Alright, brother. | ||
|
unidentified
|
See ya. | |
| Brother, thank you so much on a Friday. | ||
| Appreciate ya. | ||
| Okay, folks. | ||
| Historic day. | ||
| Big sell-off. | ||
| Orderly. No panic there. | ||
| Although the MSNBC and CNBC trying their best to stir up a panic. | ||
| Here's what we're gonna do. | ||
| We got kind of a cold open. | ||
| Longer cold open because so much going on. | ||
| Let's play it. | ||
| And now we return with observations and analysis as we open the war room. | ||
| It's so important that you bring up the fact that the Biden administration was late on figuring out just how dangerous inflation would be to working Americans. | ||
| And again, said it was transitory. | ||
| It ended up not being transitory. | ||
| But Steph, it's very interesting. | ||
| You bring up the Treasury Secretary, who again a couple of weeks ago said, ah, cheap goods. | ||
| Affordable goods, not a God-given right for American consumers, and then saying yesterday, well, other countries shouldn't push back against these high tariffs. | ||
| They're just going to do that, and we showed some clips of Scott Besant. | ||
| He looked very uncomfortable, and I suspect it's because neither he nor many of the people who are advising the president, certainly not those on Wall Street supporting him, actually agree with the president on tariffs. | ||
| I mean, Donald Trump He stands almost completely alone in believing that he can reorder, you know, 45 years of globalism. | ||
|
unidentified
|
Bingo, Joe. | |
| My sources say that Scott Besson is kind of the odd man out here and in the inner circle that Trump has, he's not even close to Scott Besson or listening to him. | ||
| Some have said to me he's looking for an exit door to try to get himself to the Fed because in the last few days he's really hurting his own credibility and history in the markets. | ||
| Those who've said, this man actually understands how the markets work and what's happening right now is only going to hurt markets. | ||
| And even for Scott Besson to say a few weeks ago, you know, getting cheap goods fast is not part of the American dream. | ||
| No, it's not part of the American dream, but it's part of the way Americans live, especially people who are economically vulnerable. | ||
| They don't have the option to say, nope, I'd like higher things that cost more. | ||
| They need low cost things because they don't make that much money. | ||
| ... | ||
| that Jerome Powell and the Federal Reserve now face. | ||
| Before, what we talked about was inflation. | ||
| The high cost of everything. | ||
| Homes, mortgages, cars, whatever. | ||
| Caught up in the COVID supply chain crunch that we had a couple years ago. | ||
| Price is still too darn high. | ||
| I will filter myself as it's a family show. | ||
| And now, all of a sudden, the Federal Reserve is finding itself trying to fight this tariff, this trade war, which I don't want to say came out of the blue, but certainly is a lot worse than people expected. | ||
| I'm not sure I'm sure anybody on Wall Street that we have talked to here on CNBC expected the president to do exactly what he did. | ||
| Most people said, well, you know what? | ||
| He's just hubris. | ||
| He's going to say this, but ultimately we're not going to get the worst. | ||
| Well, guess what? | ||
| We got the worst and then some. | ||
| Now, to your point, Jose, China's responding. | ||
| What did Jay Powell say today to the Fed chair? | ||
| Well, number one, he said, I'm not going to respond to what the president did because the Federal Reserve is not supposed to respond to elected officials. | ||
| But if you read between the lines, and I can assure you, there is no love lost between these two men, J-PAL and President Trump. | ||
| President Trump wants lower interest rates, lower mortgages, and lower inflation. | ||
| He has openly called for the Federal Reserve to cut rates. | ||
| The Federal Reserve, though, now is believing that if tariffs are enacted, as we know that they will be, prices are likely to rise. | ||
| That's inflation. | ||
| And the Federal Reserve does not cut rates in inflation. | ||
| If anything, it might keep rates steady or perhaps even raise them. | ||
| So this is a global conundrum that, as we're seeing from the charts and the numbers today, Wall Street is caught in the middle of, and it's kind of a self-first, ask questions later theory. | ||
| Good. Look at the markets. | ||
| It has obviously been a disastrous week. | ||
| The response from big investors and small, near and far, is not good. | ||
| And it's no surprise that this White House is under pressure. | ||
| The President, his Cabinet, they are getting calls from CEOs, from investors, because across the board we are hearing this is bad news. | ||
| This morning I reported that I had heard from close to the White House that there was so much pressure. | ||
| Scott Besson, the Treasury Secretary, was potentially not in the inner circle and potentially We're good. | ||
| than ever to his role as Treasury Secretary. | ||
| He's meeting with the President several times a day and communicating with the rest of the Cabinet. | ||
| Obviously, this week's market reaction is painful, but this is about an economic reset. | ||
| So according to Besant, he's not leaving. | ||
| But Katie, you've covered this administration this time and last. | ||
| This intrigue is not new to a Trump administration. | ||
| And when there is pressure like this, you know, the knives are out for one another. | ||
| The interesting thing in the tariff situation, though, Katie, who is the president going to blame but himself? | ||
| President Trump is deeply committed to this idea of tariffs. | ||
| What we've heard from Secretary Besson is less about the tariffs, but he had what he has talked about over and over. | ||
| And the reason he wanted to join this administration, his panic is about debt. | ||
| And deficits. | ||
| Now, we're not seeing any of that cleared up just yet. | ||
| And the thing that has me thinking so much, you were just talking to Yasmin about that dress at Macy's. | ||
| If you and I finished your program and decided to take a walk in the garment district of New York City, you know why that would be a problem? | ||
| Because there isn't a garment district in New York City anymore. | ||
| It doesn't exist. | ||
| You can walk into a shopping mall this weekend and wonder, are all of these stores still going to be solvent? | ||
| And while we've heard it less from Besson and more from Commerce Secretary Lutnick, who is the guy negotiating on these tariffs, this idea that we're suddenly going to bring all this manufacturing back, where? | ||
| Adidas spent 15 years trying to build manufacturing in the United States. | ||
| We don't have it in a scalable way. | ||
| I think New Balance has a small sneaker making operation, but on one of our other networks over the week, I heard someone saying, you know, it's time for me to be buying my $200 Nike sneakers that were made here. | ||
| Well, if they're going to be made here, it's going to take two more years or three more years to build that factory, and they're going to cost $400. | ||
| So the panic that's in the markets, Katie, I don't know that it's going away, but it's understandable that you would start to see some I think so. | ||
| Yeah. After Donald Trump's damage to the U.S. economy comes into fuller view, the markets today once again taking a nosedive. | ||
| The Dow plunging 2200 points, more than 5%. | ||
| Even those good jobs numbers that were released this morning could not shake the market's pessimism as China retaliated against Donald Trump's tariff regime. | ||
| The Chinese government imposed a 34% tax on all goods imported from the United States. | ||
| As for Donald Trump, he is for now tripling down. | ||
| Yesterday he said things were, quote, going well. | ||
| Today he said on his site, Truth Social, that China had, quote, played it wrong and panicked. | ||
| He added that the unemployment figures are a sign that his strategy is working, but those jobs numbers reflect the month before Donald Trump's We're good to | ||
| go. The bank says Trump's tariffs will cost consumers $700 billion this year alone. | ||
| It's a tax hike on a scale that LBJ imposed to pay for the Vietnam War. | ||
| It also puts Trump at odds with members of the Republican Party. | ||
| NBC News reports this, quote, after the GOP led Senate delivered a rare rebuke to Donald Trump on Wednesday by voting to undo his tariffs on Canada. | ||
| Lawmakers in both chambers are weighing additional steps to rein him in. | ||
| Senators are eyeing other mechanisms to rescind Trump's existing tariffs. | ||
| Now, we're not going to have all factories come back. | ||
|
unidentified
|
Like, clothing manufacturing, that's tough to bring back. | |
| But what kind of manufacturing are you talking about returning here? | ||
| You can't just give that away. | ||
| See, what's going to happen is robotics are going to replace the cheap labor that we've seen all across the world. | ||
| I mean, think of what our factories did. | ||
| They went to the cheapest labor in the whole world, slave labor, cheap labor, the worst environmental conditions, polluting the heck out of it, and then we bring back those cheap products here and we feel good about ourselves because we don't see the pain. | ||
| So I really view Liberation Day, as he calls it, This is the primal scream of a dying regime. | ||
| Pray for our enemies Because we're going medieval on these people Here's one time I got a free shot All these networks lying About the people The people have had a belly full of it I know you don't like hearing that. | ||
| I know you've tried to do everything in the world to stop that, but you're not going to stop it. | ||
| It's going to happen. | ||
| And where do people like that go to share the big line? | ||
|
unidentified
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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. | ||
| A big day in world markets. | ||
| Of course, they are roiling with the announcement of Liberation Day. | ||
| I think that we're going to have Ed Dowd on here to walk through what's actually going on because the MSNBC, CNBC, all of them, they're out to do one thing. | ||
| They are trying to crash markets to bring Donald Trump down. | ||
| This has nothing to do with the American people nothing to do with you know all sudden Katy Tur and these people they're so Interested and so fascinated and so concerned about capitalism and people's 401ks It is it is a complete and total joke however You know About a situation is President Trump's policy is absolutely correct What he's doing is a geoeconomic reset of the global trading system Pretty big, | ||
| right? He started through, you see how he's rolled out on the reciprocity, on the term of reciprocity, and you've already had some major nations, like for instance, Vietnam, where so many of the jobs during the pandemic from China, as they started, the people started to reshore. | ||
| It wasn't reshored to the United States immediately, they went to other low-cost, low-labor countries. | ||
| Vietnam, Is President Trump put up on true social? | ||
| Has already reached out to President Trump and said, hey, no mas. | ||
| We're in. | ||
| Just tell us what we got to do. | ||
| Right? We see we're at 47%. | ||
| At least you got us down to 47%. | ||
| Maybe we'll fight you on the margins, but we're in. | ||
| Just tell us what we got to do. | ||
| We don't want to get into a trade war with the biggest market and the most powerful nation on Earth. | ||
| The messaging here, when you have a messaging apparatus that's going to sit there and tell lie after lie after lie after lie, do no analysis and repeat the lie, you have to combat that. | ||
| You have to go on offense first. | ||
| This is not about cabinet secretaries or people at the White House coming on shows, which I think they do. | ||
| They do a fine job. | ||
| Scott Besson, Secretary of Treasury. | ||
| Howard Lutnick, Secretary of Commerce. | ||
| Peter Navarro, the trade and manufacturing czar. | ||
| Also Hassett. | ||
| They're out. | ||
| They're gonna do the Sunday shows this weekend. | ||
| They do a good job when they're on. | ||
| I think, I think, and Stephanie Ruhl, and we love your show, we watch it every night, to Deconstructed, because that's a show kind of all Wall Street and the corporate people watch late at night, before they hit the rack. | ||
| To see what's going on. | ||
| It's kind of it's kind of news for the business community. | ||
| I Believe you're wrong Scott Besson his style is different. | ||
| He's not Howard Lutnick. | ||
| He's not Donald Trump. | ||
| He's not Peter Navarro He's not Steve Bannon. | ||
| He's got a different professorial Take on things. | ||
| That's why he's a safe pair of hands. | ||
| That's why he's a contributor here for years. | ||
| That's why we fought so hard to have him as as Secretary Treasury He's he's a you know, he's a safe pair of hands He's in, and he's on the inner circle, not the inner circle, he talks to the president multiple times a day, but he's not going to go out with his hair in fire running around. | ||
| It's very, it's discernment, it's reserve, it's what the capital markets want to hear because he's not making it up and kind of winging it about trade and tariffs. | ||
| My issue is you've got to have, as I said on Eric Bolling's show at the end, You have to have a hundred surrogates. | ||
| The people in the White House, Cabinet Secretaries, they have a job. | ||
| They got stuff to do. | ||
| Yes, they have to be out messing, and they should. | ||
| But you have to have 50 economists, 50 businessmen, including the most major ones that buy into the program and understand it, the union leaders. | ||
| Boom! They ought to be all over it. | ||
| REV, we ought to be saying, no, no, no, we can't take anymore. | ||
| At Newsmax, we can't take anymore. | ||
| At Fox, you can't take anymore. | ||
| The other side has that. | ||
| We got a weekend to kind of do this. | ||
| Trump ain't backing off this thing. | ||
| So, White House staff, I love you guys doing a great job so far, but now we gotta go fix bayonets. | ||
| We gotta push this over the top, we gotta push it over the top. | ||
| President Trump is not gonna back off this, and he doesn't need to back off this. | ||
| The nations of the earth are surrendering, are figuring out how to surrender. | ||
| I've talked to people for 48 hours straight. | ||
| They're trying to figure out how they can work around this, how they can do this. | ||
| How can they get Trump to some amenable point? | ||
| I'm not saying President Trump's going to do it. | ||
| But Trump ain't blinking. | ||
| They're blinking. | ||
| Short commercial break. | ||
| We'll return in a moment. | ||
| Got Ed Dowd. | ||
| Go through some math. | ||
|
unidentified
|
Here's your host, Stephen K. Vance. | |
| Okay, remember during the pandemic? | ||
| Remember the pandemic? | ||
| And the pandemic just happened to come in early 2020. | ||
| Let me back up. | ||
| Let's go back to the beginning. | ||
| Not the total beginning of the story, but I'll pick a random chapter. | ||
| One of the most important months, if not the most important month, in the geopolitical history of the Earth in the 21st century was May of 2019. | ||
| In May of 2019, almost two years into his administration just over, this construct, this deal we had worked on from the beginning, led by Bob Lighthizer, heretofore referred to as the Lighthizer deal, that Peter Navarro and Lighthizer were working on every day after we'd had a little, | ||
| how do you say this, Gary Cohn and the globalist crowd took their shot In April and May, June of 2017, and failed miserably. | ||
| President Trump reverted back to exactly what he wanted. | ||
| He knows exactly what he wants in world trade. | ||
| Lighthizer and Navarro, working with Li He, came up with what's called the Lighthizer deal. | ||
| It was seven verticals to take away the seven original sins, as Dr. Navarro calls it, of the Chinese Communist Party economy, and to actually fold it into Kind of merge it into the the economy of the West led by the United States of America in Western Europe It would take away the problem of excess capacity and state-owned industries and how they gained the entire system all of it They also had that month the first | ||
| Belt and Road big conference and they had Putin come Thing wasn't I think was actually either Beijing or Shanghai And at that time why she shone and she looked and said hey this one belt one road thing may work this predatory capitals We're learning all the all the nations on the Eurasian landmass in the Central Asian sub-saharan Africa in the Middle East Pakistan They're all taking the money. | ||
| We're all getting these Infrastructure programs up. | ||
| We all know they're not gonna be a payback the money totally at first so we're gonna restructure the debt take ownership of The of the infrastructure projects control the countries and then we have the networking effect that we've been looking for And the United States and Europe will fall shortly thereafter, with Russia as our partner. | ||
| They cancelled the... | ||
| Wang Qishan said, why should we bow to the foreign devils now? | ||
| They cancelled. | ||
| They actually called up and said, we're not doing this deal. | ||
| When it was... | ||
| the draft was prepared... | ||
| they were prepared to work through and sign a draft and then get ready to have a signing ceremony event with President Trump and Xi. | ||
| Cancelled. Not doing that deal. | ||
| We'll get back to you. | ||
| They're not interested. | ||
| Typical Chinese. | ||
| Circumstances change. | ||
| When they retrade you, circumstances change. | ||
| Okay, thank you. | ||
| I got that. | ||
| That's what contracts are supposed to go through. | ||
| Circumstances. But I got it. | ||
| You guys roll differently. | ||
| I got it. | ||
| They also declared, as Frank Gaffney tells you all the time, the Committee on the Present Danger tells you all the time, they declared a people's war against the United States. | ||
| She did. | ||
| Said, let's go. | ||
| Let's throw down. | ||
| In fact, we don't want to get together. | ||
| We don't mind decoupling. | ||
| We want to roll. | ||
| Because we see what they're trying to do. | ||
| Shortly thereafter, I don't know, in the summer or the fall, I think the late summer, the military games, right? | ||
| The COVID-19 started to spread. | ||
| They knew what they were doing. | ||
| They're going to take down the United States. | ||
| Trump, and of course the economy of Trump in 2019, on a roll, in the fall of 2019, on a roll. | ||
| Virtually no inflation, super low interest rates. | ||
| A three and a half percent growth rate. | ||
| We're taking a trillion dollars of liquidity off the balance sheet of the Federal Reserve. | ||
| Janet Yellen was a Federal Reserve Chair. | ||
| I actually thought she was doing okay. | ||
| Quantitative tightening. | ||
| Trump grew the economy at that with that headwind. | ||
| Plus you had first-time wages as Cortez tells you all times got the charts on the whiteboard Blue-collar wages higher than white-collar ages on on on on growth Non-college graduates higher than college graduates first time in a long time on record low unemployment Hispanics African Americans, baby. We're cooking with gas. | ||
| Let's roll then the pandemic And now we're in this situation President Trump was going to do it then, now he's going to do it now. | ||
| He has thought about this to the core of his being. | ||
| This is why he's in public office. | ||
| This is why he started thinking about back in the late 80s and the early 90s. | ||
| Particularly, remember when they're buying the air rights over Tiffany, the Japanese? | ||
| Remember the Japanese in the late 80s and early 90s where they had an asset bubble? | ||
| But man, they were on a roll. | ||
| They were going to conquer us. | ||
| And Lou Dobbs, who was kind of his mentor on TV because watching CNN and Lou Dobbs was hammering this every night nobody talked about it. | ||
| The beginning of the trade deficit then, Lou Dobbs was hammering that in the 80s and 90s. | ||
| Remember, the trade deficit is $25 trillion, $18 trillion, since the globalists in New York City, and of course the Bush apparatus and the Clinton apparatus, the political class, and Wall Street invite the Chinese Communist Party in so we can make slave labor allow Beijing and everybody make more money, except for the working class and middle class United States, who are going to have it all on their shoulders. | ||
| And oh, by the way, Can you also, Moloch wants your children for forever wars in the Middle East. | ||
| Let's start there. | ||
| That's the system. | ||
| Trump is breaking the system. | ||
| Whether it's the legal apparatus that runs the imperial capital, whether it's the universities that radicalize these kids, whether it's the institutions and groups that allowed for a 10 million people person invasion on the southern border into our beloved country in four years or allow fentanyl to come in and destroy working-class people of every ethnicity and race Both in rural communities and in in our inner cities | ||
| Oh and designate sanctuary cities at the same time the corruption the incompetence the hatred of the United States of America and the citizen the United States of America by our elites Is virtually unfathomable. | ||
| The revolutionary generation came back here. | ||
| It's not just the structure and the results. | ||
| Good God in heaven. | ||
| What have you done to allow these people to have control of our beloved republic that we put everything on the line for? | ||
| Yeah, how does it make you think? | ||
| Was Trenton worth it? | ||
| Was Valley Forge worth it? | ||
| Was Morristown worth it? | ||
| Was Saratoga worth it? | ||
| Was Bunker Hill worth it? | ||
| Was all of it worth it? | ||
| Was that worth it? | ||
| Is that what you were doing for this? | ||
| And forget the freak show and the culture. | ||
| I'm just talking about the power in the money. | ||
| They have outright contempt and hatred for this country, its sovereignty, this republic, and its citizens, and they're gonna sit up here now and whine all day long? | ||
| This is so terrible. | ||
| People are gonna have to pay more for the dress we can get in Macy's. | ||
| People are gonna have to... | ||
| They're gonna pay more for this. | ||
| They don't give a damn about that. | ||
| They never given a damn about that. | ||
| Were they talking about that? | ||
| When Biden juices as we said on this show at the moment They did it in 21 and they did that whole nother cash infusion. | ||
| We said it's gonna skyrocket inflation ourselves and Larry Summer and nobody else and particularly not the traitors Republicans that signed up for it to get it passed and Now those same Republicans the same people that signed on to that blood oath With Biden, that crowd for this spending that crushed everything and set inflation up? | ||
| Did you see the Republican talking about? | ||
| No, but all they're running to the mic now. | ||
| My Lord, this is terrible. | ||
| We must stop, but Trump must be stopped. | ||
| He must be, he's not going to be stopped. | ||
| He's not going to be stopped. | ||
| And the White House staff, you guys have done a great job. | ||
| You've got to get, I need a hundred economists, I need a hundred businessmen, I need a hundred entrepreneurs, I need a hundred union people, I need a hundred folks from Main Street, and I need them in microphones, I need them on shows starting Monday. | ||
| My producers should be coming to me every second and saying, these people are so obnoxious, they want everything, they want every second of the show. | ||
| It's crickets! | ||
| Trump's got a job. | ||
| He's President of these United States, the Commander-in-Chief of our Armed Forces and the Chief Magistrate and Chief Law Enforcement Officer of our nation. | ||
| He's fully engaged. | ||
| I got a Secretary of Treasury. | ||
| He's great. | ||
| I got a Secretary of Commerce. | ||
| He's getting better. | ||
| I got Navarro. | ||
| They got jobs, too. | ||
| I don't need them on TV constantly. | ||
| You give, you know, Besson come out and do something with Caitlin Connors, fine. | ||
| I don't need him on. | ||
| He's not a TV host. | ||
| Where are the economists? | ||
| Where are the businessmen? | ||
| Where are the entrepreneurs? | ||
| And God in heaven, where are the working class? | ||
| Hell, guys were coming up in the Rose Garden and high-fiving Trump and taking the microphones. | ||
| President Trump, I'm from Macomb County. | ||
| The home of Reagan Democrats, and I love this. | ||
| Where's that gang? | ||
| They're called surrogates. | ||
| Folks, if you think the biggest change in the global economy since World War II against people that control that and have made so much money, let me just repeat. | ||
| I think it's since October 1st, the beginning of the fiscal year. | ||
| 4.4 trillion dollars of wealth has accreted to the top 1 or 2 percent or 0.0 percent. | ||
| Let's say this the top guys Greater than the bottom 50% Note to self Trump's whole purpose is to change that It's not to take he's not he's not the French Revolution. | ||
| He's not a Bolshevik. | ||
| It's Donald Trump You don't have a bigger capital is a bigger entrepreneur. | ||
| That's Trump. | ||
| All he's trying to say is hey I'm tired of these elites ripping off American people, and the American people want a piece of the action. | ||
| They deserve a piece of the action, and they're gonna get a piece of the action. | ||
|
unidentified
|
So why don't we help him out? | |
| Ain't no gonna help him out? | ||
| Let's go rip some faces off! | ||
| You're telling me Katie Turr and it's the crowd at MSNBC and seeing a Steve Leesman This is what's gonna do it and this is gonna create this kind of firestorm and they're sitting there Oh my god, it's terrible. | ||
| It's terrible terrible and then have a million people call Trump over the weekend. | ||
| You got it back off You got it back off. | ||
| This is terrible because they're all hit they all grabbed all these donors. | ||
| They're all pearl clutchers They're all gutless and they panic at the first sign of a fight We got a fight you think they're gonna give this so you think you're gonna toss the keys Trump? | ||
| Why not think of that? | ||
| Why didn't I think of the reciprocal terrorists? | ||
| Why was that an odd idea? | ||
| That's so great. | ||
| Here's the keys. | ||
| You just take it for a while. | ||
| Have we lost our freaking minds? | ||
| This is a war! | ||
| And if you don't treat it like a war, you're gonna get your ass kicked! | ||
|
unidentified
|
Ed Dowd will join us. | |
| I think for Maui or for Hawaii next. | ||
| Here's your host, Stephen K. Bamm. | ||
| You know, sometimes like in deals or, you know, events or messaging, some things are going to be bought, other things you got to sell. | ||
| You have to sell this because it's such a massive reorganization. | ||
| And it's not complicated to this audience because we've walked you through this for the last five years. | ||
| You know it. | ||
| In fact, hell, why don't we just get the war on posse to be surrogates? | ||
| Honestly, you guys could sell it better than it's being sold right now. | ||
| It's got to be sold because you see the counter. | ||
| The people that controlled the system, that made all the money, and also their theory of the case is, we're just going to wait Trump out. | ||
| We're going to wait Trump out. | ||
| We see in Wisconsin, Trump not on top. | ||
| We saw the 18 midterm. | ||
| We saw the 22 midterm. | ||
| Didn't turn out quite. | ||
| They won. | ||
| Great effort, but didn't quite win as big as they wanted. | ||
| We saw the 18 midterm they got smoked. | ||
| We saw Wisconsin. | ||
| These Trump people, they love it when Trump's on the ballot. | ||
| When they pick a ballot and his name's on top, they're good. | ||
| No Trump, not so good. | ||
| They think they can wait us out. | ||
| This is a 10 or 20 year struggle. | ||
| Why do you think I'm the biggest advocate of Trump 28? | ||
| Trust me, folks. | ||
| I don't waste my time chasing rabbits, okay? | ||
| This is a war for this country, for the direction of this country. | ||
| We're either a constitutional republic built upon entrepreneurial capitalism, or we're gonna be what you had in those four years, and you saw it, baby. | ||
| The economics of it, you saw what they thought about our sovereignty, they thought about what you thought about as U.S. citizens. | ||
| What they thought about our true allies and where they want to put their money and how they want to sneak it around New York Post got a story today about Hunter Biden and grime happening on the Obama administration all that. | ||
| These people are perverts, they're degenerates, they're crooks, they're incompetent, and they're just overall not good folks. | ||
| Full stop. | ||
| And they want to create all the money and power to themselves and give you a fare thee well. | ||
| This is about the forgotten man and woman, who are forgotten no longer. | ||
| And guess what? | ||
| In the last couple of years, you're not. | ||
| You've raised your head up and you've roared and you put him on your shoulders and delivered the biggest comeback victory in the history of the nation, bigger than the one in 16. Against all odds. | ||
| On a man they wanted to put in prison, a man they wanted to bankrupt, a man they brought up all these charges, women, all this stuff, all this, everything, all this, all this stuff, all of it, all of it, every day. | ||
| And he had the moral courage to say, hey, I know it's going to happen, but I'm all in. | ||
| That's why he may be the greatest leader this country ever had, and I understand he's got a couple, three imperfections. | ||
| So did Lincoln, and so did Washington. | ||
| Go read the histories of them. | ||
| The memoirs go in detail and see that they had plenty of shortcomings and They were disruptors and guess what they were hated by a lot of people also That kind of gets washed out in history Just like this will be washed out when we win and we're a long way from winning I don't hear any more about the inauguration. | ||
| I don't hear more about tech bros I don't hear about this and that and all these sunshine Patriots and summer heroes. | ||
| I'm talking about now And I'm talking about a gut check this weekend. | ||
| Because baby, it's coming all weekend. | ||
| Trump's destroyed the economy. | ||
| Trump's destroyed this. | ||
| He's crushed our allies. | ||
| He's done everything. | ||
| He's the most destructive individual ever, and now we're getting autocratic breakthrough. | ||
| He's destroying the courts. | ||
| He's sent these poor, innocent, these poor little boys, these poor, innocent kids to They're so good that mommy's gone TV to big tears. | ||
| They put their down in this prison in thing because they're good kids and somehow they just got a rock and roll tattoo. | ||
| And, you know, people got them for all the wrong reasons. | ||
| We've got to bring them all back and tuck them in because Trump's evil. | ||
| He's incompetent. | ||
| He's a bad person. | ||
| Folks, I told you when the inauguration was going, they're all running around, and they got the crypto thing here, and they got that here, and they're doing this here, and they're running around. | ||
| I said, give it 100 days. | ||
| Well, I think we're before 70. Because Trump is going to get down to it. | ||
| He didn't risk 700 years or 350 years in prison. | ||
| He didn't risk bankruptcy. | ||
| He didn't risk having his family destroyed, his honor destroyed. | ||
| All of it. | ||
| To come and do small things good lord He's done more big things in 65 days than all the presidents combined of the 20th century I'm gonna throw FDR in there and Reagan if you think about it structurally for the little guy They're running oh my god, he said Reagan and FDR can't be greater than that. | ||
| Yeah, he is Yep, he is and you're already starting to see fissures They're already coming out. | ||
| The Senate's already passed something. | ||
| You got Cruz, you got Schumer, you got them all. | ||
| Oh my God, tariffs are terrible. | ||
| It's going to be awful. | ||
| It's going to be terrible. | ||
| They're breaking ranks. | ||
| I don't see anybody banging heads from the White House. | ||
| He's a busy guy. | ||
| President Trump's got a couple, three things on his plate. | ||
| Where are the headbangers? | ||
| Go bang some heads. | ||
| What I want to see him is up on the Capitol steps with a sign that says reciprocity. | ||
| Sir. Because behind the scenes, they're the ones leaking to the press and yammering, this is terrible, I don't know what's gonna happen. | ||
| Yeah, I don't know what's gonna happen. | ||
| This is the same crowd that won't go down and have a town hall, because they're afraid a Democrat's gonna say something bad to them. | ||
| A Democrat's gonna say something bad. | ||
| So you know if these Democrats, they're gonna get some things. | ||
| Hey, tell those Democrats, go screw yourself. | ||
| You guys had four years. | ||
| You drove this country into the ground. | ||
| This country was so great. | ||
| Yeah, how come working class people are not voting for you or voting for us? | ||
| I don't see the paid guys that show up there. | ||
| Ask them. | ||
| Get in their grill. | ||
| Shut up. | ||
| And if they don't shut up, hey, you get a question, if you don't ask a decent question, throw them out of there. | ||
| Take them and throw them out. | ||
| You gotta start playing the same tactics. | ||
| The reason the country's in the shape it's in for too long, the Republicans just went along with this, little bow ties and, you know, gonna have a, you know, gonna have a thing of punch. | ||
| This is not a cotillion. | ||
| This is not wearing thin ties and, you know, reading Whitaker Chambers' Witness. | ||
| That's all great, but that's not what this is about. | ||
| This is a fight for the direction of your country. | ||
| This is like the guys in the Patriots in the Revolutionary War. | ||
| This is like the Civil War. | ||
| This is like World War II. | ||
| This is a political Donnybrook, a fight, and they're fighting. | ||
| And we're sitting around feeling good. | ||
| Well, you better not be feeling good now, because President Trump's put it all on the line, and they're coming for him. | ||
| They're coming for him. | ||
| Because they think they saw Wisconsin, they take him out, the whole thing craters. | ||
| They get a guy running around with a cheese head on, the whole thing craters. | ||
| Trust me. | ||
| These people are plenty tough, and they're plenty smart, and they're conniving. | ||
| They got the institutions. | ||
| They got the money. | ||
| They got the power. | ||
| They're taking it from overseas. | ||
| The last thing they want is the American people to have the sovereignty of their nation back. | ||
| They think we can just wait Trump out. | ||
| We'll wait this out. | ||
| He's at least got another 12 years or 11 and a half years minimum. | ||
|
unidentified
|
Yeah, we got a couple of cards up our sleeve. | |
| Not wasting our time on that one. | ||
| We don't need to worry about that. | ||
| They'll impeach him in the midterms because of this. | ||
| Ed Dowd, we never really made the case. | ||
| I mean, we would make it here, but they lay out the case of what President Trump inherited and what he's trying to reorient. | ||
| Walk us through it, sir. | ||
| Well, you mentioned in this monologue that MSNBC and CNBC are talking about how Trump's wrecked the economy. | ||
| The middle class economy, the real economy was already wrecked going into the election. | ||
| Trump won because of that economy. | ||
| Real wage growth was minus 2%. | ||
| And I've said before and I'll say it again, Ronald Reagan had a similar setup, won in a landslide. | ||
| He had a double dip recession while he restructured the economy. | ||
| Bill Clinton, same setup, minus 2% real wage growth versus Bush. | ||
| And he won. | ||
| And Trump won because the economy was already wrapped. | ||
| The stock market, which is now, I guess, making headlines, was already in the process of topping since December. | ||
| And what people need to understand is that the last two years of the Biden administration was a fraudulent economy. | ||
| You know, in every Fed cycle of easing and then tightening, the fraud comes out. | ||
| While we had corporate fraud in the 90s, we had bank fraud that almost took the system down in the 07-08 period. | ||
| Then we had a 14-year easy money period, and then an interest rate hike. | ||
| And usually, once the punch hole's taken away, and it has been taken away, interest rates are too tight, they need to come down, and there was fraud that propped up the last leg of this. | ||
| And this fraud was the elephant in the room, illegal immigration, 10 to 15 million people brought in in a four-year span, majority of which in the last two years. | ||
| That was a tremendous amount of money. | ||
| It's easy to assume the all-in economic cost for an illegal alien, which was a purposeful Policy of the Biden administration, outsourced to NGOs, the all-in economic costs that got its way, worked its way into the economy using our balance sheet and deficits, was about $50,000 to $100,000 per illegal. | ||
| That includes getting them from Central America to the Darien Gap, to the border, into the interior of the U.S., setting them up with accommodations and giving them food and shelter for the period that they're there. | ||
| That's a very easy estimate. | ||
| And that's about one in, if you say 15 million illegals get in, that's one and a half trillion that was spent to prop up this economy through the NGO system. | ||
| And it was fake, false, and that's why we had fraudulent non-farm payroll numbers. | ||
| We suspect only about two million of the illegals actually got jobs. | ||
| The rest of them got freebies. | ||
| Doge is exposed so much fraud, getting social security numbers, free benefits. | ||
| I think the administration needs to really talk about the fraud that they've uncovered And how it propped up the economy. | ||
| And the economy, quite frankly, started the week, the moment Trump got elected. | ||
| Look, $16 trillion in the pandemic gone, $16 trillion. | ||
| This is how you get to the 37. We started at $21 trillion, $16 trillion. | ||
| The reason this thing was propped up is federal spending. | ||
| And the Congress went along with it, and Biden went along with it. | ||
| I mean, we stopped it and turfed out McCarthy. | ||
| And that's got to stop. | ||
| Inflation is not going to stop until you stop that. | ||
| We have, okay, for the people on CNBC and MSNBC, particularly Katie Turr, take your number two pencil out, Katie. | ||
| Katie, I can tell right away that you are a math with tears person. | ||
| Just saying. | ||
| Maybe not. | ||
| I think she said the other day she took calculus. | ||
|
unidentified
|
That's okay. | |
| That's good. | ||
| We have $25 trillion trade deficit, cumulative, aggregate, and $37 trillion of debt. | ||
| That's the face of it. | ||
| I got another $100 trillion of, you know, contingent liabilities, I would call them. | ||
| We're in hock the 20 part of the 37 trains that people not making a month of money. | ||
| They're buying the cheap goods sent over from China Because they don't have the jobs here anymore That's how you get to the deficit trade deficits a real thing 18 trillion dollars since China's come into the World Trade Organization and got most favored nation status by Clinton and Bob Rubin and that whole crowd that that the neoliberal neocons of the Bush Clinton They're all the same folks, and that's the gospel they're preaching here every day. | ||
| And we're not countering it with economic nationalism. | ||
| Up in your face. | ||
| Brute force. | ||
| Sorry you don't like it. | ||
| This is what we're doing. | ||
| The American people are going to get a great deal. | ||
| What does Posobiec say? | ||
| It's a great deal. | ||
| It's not a good deal. | ||
| It's not an okay deal. | ||
| It's not a kind of a... | ||
| It's a great deal. | ||
| And that's why, why do you think they're on MSNBC and CNN, New York Times, Wall Street Journal, Financial Times, Ginny Tetz up there, she's one of the smartest women in the world in capital markets. | ||
| She's very upset. | ||
| She's very upset. | ||
| Hell, it's the Financial Times of London, the Wall Street Journal, the New York Times. | ||
| Did these people have anything in common or ever have the back of working men and women in the United States of America ever? | ||
| No, they do not. | ||
| Why do they hate Trump so much? | ||
| They hate him because they think he's a traitor to his class. | ||
| He's a billionaire, for God's sake. | ||
| He's exposed the con. | ||
| The long con. | ||
| And that's what this has been. | ||
| And Ed Dowd just walked you through a couple of three numbers that they never wanted to talk about. | ||
| Were they running around with inflation, inflation, inflation, and talking about how bad inflation is? | ||
| They were trying to cover it up. | ||
| It's really not that bad. | ||
| It's only 2%. | ||
| Not talking about the decline in the purchase power of the dollar or why the BRICS nations were upset. | ||
| Because they run a surrogates program. | ||
| Hell, they got hundreds of economists and hundreds of business guys. | ||
| They're all coming out. | ||
| Because they're part of a corrupt system and they want to take their hands off the levers of power. | ||
| What could be simpler? | ||
| Short break. | ||
|
unidentified
|
Here's your host, Stephen K. Bannon. | |
| Birchgold.com, take your phone out, text Bannon, B-A-N-N-O-N at 989898. | ||
| Get the ultimate guide to investing in gold and precious metals in the era of Trump, now more than ever. | ||
| Also, Go to birchgold.com, go to the website birchgold.com slash Bannon, end of the dollar empire, get the six free, so I mean get them all, but get the six free one. | ||
| Modern monetary theory, the idea that broke the world, don't think we're the world's biggest margin call? | ||
| Stand by. | ||
| Over at Substack, I'll put this up later, Tanvi Ratna, very perceptive, Trump's new tariffs aren't a trade tweak, they're a first move in a full spectrum reset. | ||
| 9.2 trillion in debt, matures in 2025, inflation lingers, alliances are shifting. | ||
| She breaks and does a whole analysis. | ||
| That's the way to think about it. | ||
| Think about this smartly, the pieces of it. | ||
| Remember on the pandemic they wanted to do, remember the World Economic Forum, like Klaus Schwab retired the other day? | ||
| They wanted to do what? | ||
| Build back better, a bunch of pencil necks with PowerPoints, doing TED Talks. | ||
| Donald Trump's changing the world with action. | ||
| He steps in. | ||
| You see that speech in the Rose Garden the other day? | ||
| That's a man stepping into it and saying, here's the way it's going to be. | ||
| Let's give him a little backup. | ||
| How about that? | ||
| Everybody ought to be to the ramparts on this. | ||
| And he's not going to back off. | ||
| You've got one shot to do this, folks. | ||
| You blink now. | ||
| I don't want to hear any whining and bitching and moaning. | ||
| About, oh, this is so terrible. | ||
| They sent all the jobs to China. | ||
| Hell, he just got a 54%. | ||
| If you add the 20 to the 34, he got 54% tariff. | ||
| Chinese Communist Party, they ain't sleeping tonight. | ||
| They're figuring out how we did it. | ||
| We got to do something with Trump. | ||
| He just went to economic war of the CCP, said, hey, suck on this. | ||
| How about this? | ||
| Deal with this. | ||
| I respect you, Xi. | ||
| Deal with the 54% tariff, of which 20% starting immediately. | ||
| This is not a TED talk. | ||
| It's not a bunch of foils. | ||
| It's not some presentation, not a deck. | ||
| Go to World Economic Forum in Davis. | ||
| Let's have a deck. | ||
| There's all those guys, they all weigh 98 pounds or 102 pounds, right? | ||
| Got the thin suits and the, you know, all the different colors. | ||
| They're sitting there giving you a deck. | ||
| How about a deck? | ||
| How about a presentation? | ||
| You don't want a presentation. | ||
| Trump's changing the world. | ||
| A world that you built that's screwing working-class people throughout the world, but particularly in the United States of America. | ||
| And he doesn't care if you like it or you don't like it. | ||
| So get on board, or if you aren't, listen, this is going to be remembered, folks. | ||
| This is going to be remembered. | ||
| Everybody climbed on, they all climb on when Trump's winning, they all climb on November 5th. | ||
| Remember on the evening of November 5th. | ||
| Isn't Trump great? | ||
| My phone's blowing up. | ||
| Isn't it amazing? | ||
| People I haven't heard from in years. | ||
| Isn't it fantastic? | ||
| That he, uh, oh, by the way, you had a prison, Steve? | ||
| Isn't it great Trump won? | ||
| They all had the road to Damascus. | ||
| All the people that hated him for so many years abandoned him. | ||
| They're all back after 10 o'clock, after Pennsylvania and Wisconsin and Michigan after all fell. | ||
| They're all, yep, tech bros. | ||
| Facebook went in and started working out more. | ||
| He's getting bro'd out. | ||
| Getting Dana White on his board. | ||
| He's gonna be a brother. | ||
| He's gonna be a kung fu fighter. | ||
| All of them coming back. | ||
| This is great. | ||
| Let's have Inaugural. | ||
| Let's party. | ||
| Where are they? | ||
| I think I've missed those voices the last couple days. | ||
| Have I seen them up there about this? | ||
| Maybe I missed it. | ||
| Maybe my staff just didn't pull all those endorsements. | ||
| Ringing endorsements. | ||
| Where are all those Republican politicians all down there begging him, kissing his ass to get an endorsement? | ||
| So nobody run against him. | ||
| Tell him he's the greatest thing in the world. | ||
| Up on Capitol Hill. | ||
| Hell, they're getting the knives ready. | ||
| Trump better not come up here. | ||
| It'll be the Ides of April. | ||
| Do you think any of them have their back? | ||
| They don't have his back. | ||
| How many have come forward, went full throat and said, absolutely, this is 100% right, we're sticking with this, Trump's redoing this for the American people, forgotten man and woman. | ||
| They're all kind of faux populist. | ||
| They're as much cosplay as Bernie Sanders. | ||
| Where's Bernie in this? | ||
| Oh, Bernie put out a sharply worded press release. | ||
| Yes, you need terrorists, but this is not the way to do mumbo-jumbo, Bernie. | ||
| Bernie, you're irrelevant. | ||
| Go play in the corner. | ||
| You had two shots at Hillary Clinton. | ||
| You had two shots at the neoliberal neocon mafia, and you blinked both times. | ||
| You know why? | ||
| You're a gutless old man. | ||
| Oh, he's drawing big crowds. | ||
| Hey, hapless fools that go to Bernie Sanders are going to remain hapless fools. | ||
| Sorry, not sorry. | ||
| Oh, but he's got his opening acts at AOC. | ||
| She's a fire breather. | ||
| She's on top of it. | ||
| She's got it. | ||
| She understands it. | ||
| There's two beauties. | ||
| This is political warfare. | ||
| You got one shot at this. | ||
| Everybody for decade after decade after decade after decade has said the jobs all shipped and the jobs left and the drugs came in. | ||
| They gutted the Midwest. | ||
| They gutted the Upper Midwest. | ||
| They gutted New England. | ||
| They gutted the South. | ||
| And you see those people, you know, Stephanie ruling that crowd on them. | ||
| They're all, yeah, this is too bad, you know, and they're making a pitch. | ||
| They're not including the service economy. | ||
| They're not including the service economy. | ||
| There's no sustainable competitive advantage in the service economy. | ||
| I'll accept if you come up with an algorithm. | ||
| I got it. | ||
| The algorithmic age. | ||
| I got it. | ||
| With only reason you guys come on it was you granted these guys monopoly status Let Lena Khan on them for a month and see how what big shots they are. | ||
| Let Gail Slater take a shot at it. | ||
| Oh It's a service economy all here all day. | ||
| It's a service economy and we're not counting services and services gonna so competitive No, no, that's just not true It's what you make how you make it how you produce it how you grow it that's it I don't want to hear any whining if we don't win this moment. | ||
| We're going to win this moment, okay? | ||
| And remember, I'm taking names. | ||
| I got my black book out. | ||
| I'm Irish. | ||
| I'm taking them, writing that down with my number two pencil. | ||
| Who's with us and who's against us? | ||
| And I don't want after this, no more shot at coming back on the boat. | ||
| We're going to shoot the people. | ||
| Hey, if you jumped on the boat, you're going to swim back? | ||
| You try to get out of the way? | ||
| No, no, no, no, no, no. | ||
| Shoot them. | ||
| That's a metaphor. | ||
| Hell, what do I care? | ||
| We're banned everywhere for good reason and I'm damn glad of it. | ||
| It's so detestable what I've seen the last couple of days. | ||
| The cowardness, the lies. | ||
| When the American people, their livelihood, their pursuit of happiness, which I happen to read somewhere, their pursuit of happiness and their children and their grandchildren were on the line. | ||
| The misrepresentations, the lies, bald-faced lies. | ||
| Because those in charge of the money and the power are not prepared to pat you on the head and say, what a brilliant idea. | ||
| Yes, Jack Vosobik, you're correct. | ||
| Yes, Charlie Kirk, you're correct. | ||
| It's a great deal. | ||
| Why didn't we think of that? | ||
| Why didn't we think of that? | ||
| It is a great deal. | ||
| Thanks for explaining that to us, fellas. | ||
| Let's just, we'll get on board now. | ||
| That's not the way this is going to roll, folks. | ||
| Short break. |
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