April 14, 2025 - Bannon's War Room
48:55
Participants
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| Speaker | Time | Text |
|---|---|---|
| The world cheats us. | ||
| They've been cheating us for decades. | ||
| They cheat us with tariffs. | ||
| Higher tariffs. | ||
| But more importantly, they cheat us with the so-called non-tariff barriers. | ||
| It's the VAT taxes, the dumping, the currency manipulation, the technical barriers that keep our autos out of Japan, the agricultural barriers that keep our pork out of Australia or Europe. | ||
| They're doing that to the tune of $1.2 trillion of wealth a year that we transfer now abroad and $18 trillion of wealth since we started running deficits. | ||
| So that's the problem we're grappling with. | ||
| So we have a strategy here where the president says we're going to charge them what they charge us. | ||
| And the analytical issue is it's easy to calculate the tariff differential, but the non-tariff barriers are so much higher. | ||
| So that's what we said, knowing full well, knowing full well that a lot of countries would come right to us. | ||
| And want a bargain. | ||
| We've got 90 deals in 90 days possibly pending here. | ||
| And it was par for the course. | ||
| Actually, it was a birdie for President Trump to do exactly what he did, which was pause for 90 days. | ||
| And we're going to get this done for the American people. | ||
| I think that right now we are at a decision-making point and very close to a recession. | ||
| And I'm worried about something worse than a recession. | ||
| If this isn't handled well. | ||
| A recession is two negative quarters of GDP, and whether it goes slightly there, we always have those things. | ||
| We have something that's much more profound. | ||
| We have a breaking down of the monetary order. | ||
| We are going to change the monetary order because we cannot spend the amounts of money, so we have that problem. | ||
| And when we talk about the dollar and we talk about tariffs, we have that. | ||
| We are having profound changes in our domestic order. | ||
| How ruling is existing. | ||
| And we're having profound changes in the world order. | ||
| Such times are very much like the 1930s. | ||
| I've studied history, and this repeats over and over again. | ||
| So if you take tariffs, if you take debt, if you take the rising power challenging the existing power, if you take those factors and look at the factors... | ||
| Those changes in the orders, the systems, are very, very disruptive. | ||
| How that's handled could produce something that is much worse than a recession. | ||
| We had really good news on the inflation front, both the producer price index, which is wholesale prices, consumer price index, had the lowest print since fall of 2023. | ||
| Really good news. | ||
| And nobody expected that. | ||
| And the reason why that kind of thing's happening is because the Trump policies on other fronts, the oil's down. | ||
| But the other thing, and this should have been in that little package you had at the beginning, the Congress passed the resolution, the budget resolution, which lays the groundwork for having the biggest, broadest tax cut. | ||
| in American history before August. | ||
| Now, what does that mean? | ||
| What does it mean for both recession and inflation? | ||
| It means that we're going to have a debt-neutral tax cut financed by tariff revenues that's going to stimulate growth. | ||
| It could be worth as much of a point and a half in terms of GDP growth. | ||
| At the same time... | ||
| It's deflationary, not inflationary. | ||
| It's unlike the Biden fiscal measures, which were just pure debt-driven. | ||
| Really good news here, and I predicted 50,000 on the Dow, predicted a broad-based S&P rally. | ||
| I don't know if you know this, Kristen, but it was seven AI stocks that pulled up the S&P 500 during the Biden years. | ||
| That's not growing. | ||
|
unidentified
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President, can you talk a little bit about the semiconductor tariff that you posted on True Social today? | |
| What is the timeline for that? | ||
| And I believe it's James and Greer said today that those will not be negotiable. | ||
| Once those tariffs are in place, they're not negotiable. | ||
| That's right. | ||
| But the tariffs will be in place in the not distant future because, as you know, like we did with steel, like we did with automobiles, like we did with aluminum, which are now fully on, we'll be doing that with semiconductors, with chips, and numerous other things. | ||
| And that'll take place in the very near future. | ||
|
unidentified
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And all the things... | |
| And what we did is we want to uncomplicate it from a lot of companies because that's not where it should be, ideally. | ||
| And we wanted to uncomplicate it from... | ||
| A lot of other companies, because we want to make our chips. | ||
| And semiconductors and other things in our country. | ||
| And I will tell you, another one is pharmaceuticals, drugs and pharmaceuticals. | ||
| We want to make our drugs in this country. | ||
| And by placing a tariff on the companies that are not in this country, they're going to move into our country and we're going to have our drugs made in the United States. | ||
| So that in case of war, in case of whatever, we're not relying on China and various other countries to supply us with drugs, which is not a good idea. | ||
| And it'll happen very fast. | ||
| It'll all happen very fast. | ||
| I'm going to be announcing it over the next week. | ||
| Well, as President Trump has said, he's dispatched his team, Scott Besant, Howard Lutnick, Jameson Greer, to have conversations with these countries and to explain to them their egregious trade abuses, how they've manipulated their currencies, how they have illegally subsidized their industries, | ||
| and how they ballooned the trade deficit. | ||
| And that's going to lead to a bilateral process with each and every one of these countries. | ||
| And I'm not going to prejudge that result. | ||
| But the 90-day pause before the tariff rates snap back gives us an opportunity to have that conversation with each of these countries and to deal with these long-running, severe and systemic abuses, while at the same time, and very importantly, focusing | ||
| all of our attention and the attention of the entire international community on how China has distorted the entire global trading system through decades of intellectual property theft, trademark theft, copyright theft, | ||
| industrial espionage, currency manipulation, illegal subsidization of critical industries, targeted dumping to destroy core manufacturing capacity in other countries so that they cannot protect and defend themselves. | ||
| To finally have a president and Donald Trump who will protect and defend America from these abuses while every other president, Democrat and Republican, allowed China to plunder us to a degree that was so savage and so total, it honestly eclipses the imagination. | ||
| Have you gotten calls from any of your former counterparts that are either allies or enemies or others trying to understand what's going on? | ||
| And I'm curious if you have what you tell them. | ||
| Well, I have had a few meetings, and the truth is I honestly don't know what to tell them because... | ||
| These are huge. | ||
| I've said self-inflicted wound. | ||
| To me, President Trump is taking a sledgehammer. | ||
| Not only that he's pounding our allies with this, but he's pounding the U.S. economy with this sledgehammer. | ||
| And I don't understand the rationale for the tariffs. | ||
| Most economists would say if what you're trying to do is to reduce the trade deficit, imposing tariffs is not going to be successful and is not the way to go about doing that. | ||
| The best approach there would be greater fiscal discipline, which we're not likely to see. | ||
| And perhaps it's to bring back American manufacturing. | ||
| But I really think that's a pipe dream and not something that is likely to be accomplished. | ||
| And we could even raise questions about whether or not, in a broad-based way, that's a desirable goal. | ||
| And it's really hard to... | ||
| Predict where this is going. | ||
| The escalation with China could have very significant global implications. | ||
| This is the primal scream of a dying regime. | ||
| Pray for our enemies. | ||
|
unidentified
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Because we're going medieval on these people. | |
| I got a free shot at all these networks lying about the people. | ||
| The people had a belly full of it. | ||
| I know you don't like hearing that. | ||
| I know you try to do everything in the world to stop that, but you're not going to stop it. | ||
| It's going to happen. | ||
| And where do people like that go to share the big line? | ||
|
unidentified
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Mega Media. | |
| I wish in my soul, I wish that any of these people had a conscience. | ||
|
unidentified
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Ask yourself, what is my task and what is my purpose? | |
| If that answer is to save my country, this country will be saved. | ||
|
unidentified
|
War Room. | |
| Here's your host, Stephen K. Band. | ||
| you Amen. | ||
| It's Monday, 14 April, year of our Lord, 2025. | ||
| There are decades in which nothing happens, and then there are weeks in which decades happen. | ||
| I think we're in another one of those weeks, following last week and the week before. | ||
| Ray Dalio kind of lays it out there. | ||
| It is about the global monetary order. | ||
| That is, the roiling in this is two things. | ||
| Massive overspending by the federal government, these massive deficits that we have to continue to finance, plus... | ||
| The trade, the international global trading system, which President Trump, Stephen Miller, and Dr. Peter Navarro so eloquently lay out, is about a rigged system that the elites in this country have basically sold out the nation to the Chinese Communist Party, | ||
| and that has to be redone, and it's going to be redone, and people are not going to back off this. | ||
| This is more, and if you want to hear the running dogs for the sociopathic overlords on Wall Street? | ||
| Just go to, you just have to cut on mainstream media, MSNBC, read the New York Times, see the Washington Post, see CNN about tariffs. | ||
| Oh, they're going to raise prices, raise prices, raise prices. | ||
| Never talk about the hollowing out of this country. | ||
| Let's go to, do I have Caroline Wren, who's broken a lot of news on this in the last 10 days from her White Lotus tour of Southeast Asia, is now in Dubai. | ||
| Caroline. Breaking across the wire as we come. | ||
| As you predicted, Xi is now in Southeast Asia. | ||
| His first stop is Vietnam. | ||
| It should not be lost on people. | ||
| The very first call that President Trump took and set up a meeting with Scott Bessent was, wait for it, Vietnam. | ||
| Xi's in Vietnam. | ||
| It just came across the wire. | ||
| I think Walter Bloomberg, that Twitter feed, said they are in the process of signing 45... | ||
| We know the Vietnamese want to do a deal with the United States. | ||
| They're the very first one to call. | ||
| What's your assessment? | ||
| Sure, yeah. | ||
| I've been tracking this now for a couple of weeks. | ||
| President Xi and China seem to be going all in. | ||
| On a regional strategy here. | ||
| And President Xi, they're going all in on Southeast Asia. | ||
| And today, in one of the public speeches he gave, he called on Southeast Asian countries, and specifically their Vietnam, to join him in resisting against President Trump's, quote, unilateralism and protectionism. | ||
| And this is as- President Xi is starting as what is a propaganda tour to attempt to present Beijing and the CCP as a more reliable ally and trading partner than the United States. | ||
| And the reality is that these countries, they have to—I mean, President Xi is coming. | ||
| They're your largest neighbor. | ||
| They're a very scary neighbor, like Vietnam, and he goes off next to Malaysia and then to Cambodia. | ||
| They cannot say no. | ||
| What they're saying privately, and I've been in all of these countries over the last two weeks, is please, please, President Trump and the United States, come in. | ||
| Save us. | ||
| Help us. | ||
| We want to deal with the United States. | ||
| We do not want to deal with China. | ||
| But we have to be mindful and aware of the reality of these countries and what happens with this. | ||
| And the strategy here, I think, is that China is trying to insulate itself against Trump's tariffs. | ||
| And their best strategy to do that is with the neighbors in Southeast Asia. | ||
| And that's because Southeast Asia has become China's largest trading partner at 17 percent of their exports versus only 14 percent to the United States. | ||
| And so I think China sees this as critical to shore up Yeah. | ||
| Yeah. Interest in the region. | ||
| The same thing is with Mexico. | ||
| The same thing you do in Mexico. | ||
| That's why it's much more than $500 billion, $600 billion. | ||
| Hang on for one second. | ||
| The East Asian countries, President Trump already laid out the top five. | ||
| In Besson, Japan, South Korea, Taiwan, Vietnam, and India. | ||
| They've already had a coup. | ||
| The Chinese Communist Party have led a coup with our allies in South Korea to take out the conservative, the pro-Trump. | ||
| Taiwan is under military exercises, threatening invasion. | ||
| Vietnam, they're there today trying to crush Vietnam. | ||
| Japan, they've infiltrated Japan so badly that the Japanese have reached out to us for help. | ||
| And to say, we're your ally, but the CCP's all over us. | ||
| And of course, we know Modi's standing tall, and India says he's going to do a deal with the United States. | ||
| Today, El Salvador, because also the CCP is trying to flood and invade not just the Caribbean, but Central America. | ||
| This is why Hegseth went to Panama. | ||
| And today, El Salvador comes to the White House. | ||
| We've got Frank Gaffney. | ||
| We've got Mike Rogers just announced he's running for the Senate. | ||
| Caroline Wren's going to stick around. | ||
| We're going to go to the White House live next. | ||
| Then back at 11 o'clock when the president of El Salvador shows up, the Supreme Court's got something to say about President Trump being commander-in-chief of the United States military in a time of war. | ||
| Short commercial break. | ||
| Johnny Kahn's going to take us out. | ||
|
unidentified
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It is World War III, the early years. | |
| This morning in the war room. | ||
|
unidentified
|
I'm American made. | |
| I got American power. | ||
| I got American faith. | ||
| In America's heart. | ||
| Here's your host, Stephen K. Vance. | ||
| The president just sent a... | ||
| This isn't a true social about Ukraine. | ||
| I think I'm going to get to that in a moment. | ||
| Oh, here it is right here. | ||
| So this is from the President of the United States. | ||
| The war between Russia and Ukraine is Biden's war, not mine. | ||
| I just got here for four years during my term. | ||
| Had no problem preventing it from happening. | ||
| President Putin and everyone else respected your president. | ||
| I had nothing to do with this war, but I'm working diligently to get the death and the destruction to stop. | ||
| And he goes on. | ||
| But he's making a big point about this continual... | ||
| Another more military activity today. | ||
| Witkoff was in Moscow last week, then went to Oman for the direct negotiations with the Persians. | ||
| Big news there is that it's going to continue this Saturday in Rome. | ||
| We'll be covering that because, remember, no military strike on the Persians, but we should be much, much, much more aggressive. | ||
| On economic sanctions, including them shipping two million barrels of oil a day to the Chinese Communist Party to keep the Chinese Communist Party at war with the United States of America. | ||
| Gaffney and Ren. | ||
| Ren's in Dubai. | ||
| Gaffney's going to join me in a minute to talk about this, the unfolding war against the Chinese Communist Party and how we have so much leverage that we're not using on technology and capital markets. | ||
| So I want to go to Brian Glenn at the White House. | ||
| Brian, order of battle today. | ||
| Particularly since the Supreme Court's trying to come between President Trump and his Article II power as Commander-in-Chief of the Armed Forces during a time of war. | ||
| What happens at 11 o'clock, sir? | ||
| Yeah, at 11 o'clock, the president of El Salvador arrives here at the White House. | ||
| We enter the West Wing as it traditionally does. | ||
| We have a nice pageantry of the color guard. | ||
| You can see them behind me laid out in rehearsal of that. | ||
| Then shortly after that, they go into the Oval Office for a meeting, and then they continue about 11.35. | ||
| They're scheduled to have a bilateral luncheon in the cabinet room. | ||
| I would imagine there's lots on the table. | ||
| I know you said earlier. | ||
| I'm sure that will be talked about, but it's all about the deportation of that, at a very minimum, an illegal alien that came into this country from El Salvador and then much more higher charges as far as him being involved in gang activity and the reasons why he was brought back. | ||
| Earlier, Stephen Miller put on a Clinic 101. | ||
| versus the media as the media is so defiant on really I think deportation of any illegal alien in this country. | ||
| I told you, we got 10 million to go, and they're making a big deal about illegal alien Vader, who's clearly a criminal and needs to be in El Salvador. | ||
| So here's the order of battle we're going to do. | ||
| We're going to come back to you at 11 o'clock for the pageantry. | ||
| Being a betting man, I happen to think that the president, after he has a short time as a bilat, I think the media is going to be invited into the Oval. | ||
| Or the cabinet room, one or the other, for the president to take some questions. | ||
| Brian, you're not in the pool today, correct? | ||
| So you're going to be outside with us covering this? | ||
| Yeah, I'll be outside now, obviously, as I normally do. | ||
| I will request to be inside all of that, but if not, I will be outside here along the Pebble Beach area. | ||
| It's not an official press avail unless Brian Glenn's there to ask a pertinent question. | ||
| You're the one that gets the President's juices flowing and gets him rolling. | ||
| You're the new Helen Thomas of the press corps, right? | ||
| Remember Helen Thomas, UPI? | ||
| We now have Brian Glenn, a real America's voice. | ||
| I do. | ||
| What's your social media between now and then? | ||
| We're going to come back to you at 11. How do people follow you? | ||
| Yeah, you can follow me at BrianGlennTV on Twitter, on Instagram, at Brian on True Social, and at BrianGlennTV on Getter. | ||
| I'll be providing a little bit of behind-the-scenes stuff today here as we wait for him to arrive. | ||
| Brian, great job. | ||
| See you back here at 11. President El Salvador. | ||
| We'll arrive, and the timing could not be more perfect. | ||
| The Supreme Court's now inserted themselves. | ||
| Of course, left-wing media, that's all they're talking about, like the Great War of the Chinese Communist Party, which we have said they've been at war for us, with us for many years. | ||
| Unrestricted warfare, and then a people's war starting in May of 2019. | ||
| Remember, May of 2019, still the most important, I think, month. | ||
| Frank Gaffney from the Committee on the Present Danger China. | ||
| Frank, during the week we're going to have much more of a drill down on exactly what's going on, but we have so many potential weapons technologically, capital markets. | ||
| I mean, this is, folks, this is not about tariffs and it's not about trade. | ||
| That is an important part of it. | ||
| But as Stephen Miller did such a great job yesterday, this is two systems. | ||
| And we gave them the option, President Trump, for two years, with Bob Lighthizer and Peter Navarro and the vice chairman of the Chinese Communist Party, Lee He, negotiated a fundamental deal to integrate them into an ordered global economic system. | ||
| of which they spit in President Trump's face. | ||
| And then shortly thereafter, you had the military games in Wuhan, just a random place, the world military games of which people started to get sick from, guess what? | ||
| A virus coming from the Wuhan lab. | ||
| That was about 100 days after they spit in our face and said, we will totally decouple and go it alone. | ||
| Frank Gaffney, your assessment of where we are in this global conflict with the Chinese Communist Party? | ||
| Well, Steve, that chronology was, I think, very important. | ||
| I would just add that in the years since 2019 and since the COVID biological warfare attack, and that is what it was. | ||
| However, it got out of the lab. | ||
| Once it was out, the Chinese deliberately sent it here to kill Americans, among others around the world. | ||
| Other developments, of course, and some of the most important of them, I think, involve things that you've been covering relentlessly and properly so, including the war in Ukraine and the war in the Middle East, both of which I believe are examples of strategic arson by Xi Jinping, | ||
| leading up to quite possibly other. | ||
| We've got the problem on the Korean Peninsula that you touched on earlier. | ||
| We've got, of course, even in our own hemisphere, challenges, whether it's Panama, whether it's possibly Venezuela and Guyana. | ||
| I mean, these are places where Xi has been lighting sparks, I think, to distract us, to tie us down, and most especially to expend our limited arsenal, our kit. | ||
| To the point where when he decides to move, and whether it's directly at Taiwan or whether it's Taiwan in the Philippines or whether it's Taiwan in the Philippines and Japan, whether it's Guam, whether it's here in the United States, he is now positioned to engage in another kind of warfare, | ||
| one that they've prepared for for decades, a shooting war. | ||
| And the piece of this that is so important, we talked about it on Saturday, Steve, is we have been... | ||
| Financing the preparations for the war that will kill Americans and not just servicemen and women, probably in the Western Pacific, but also very likely Americans here at home. | ||
| One of the things that is exciting to me, Steve, in all of this, the heightened awareness that the president has brought to the, yes, war that is underway against us. | ||
| He's been focused mostly on the... | ||
| Predatory trade practices of China, but it's a symptom, as you said, a symptom of what I think is properly described not as World War III, but as World War Xi. | ||
| And why we need now to be using the leverage that we have that he hasn't really tapped. | ||
| Though, on the 21st of February, to his great credit, the president laid out in a national security presidential memorandum a basis for doing so. | ||
| He calls it the America First Investment Policy. | ||
| We need to use our financial capital leverage on the Chinese Communist Party to make it more difficult for them to contemplate the next steps that they are, in fact, now prepared to utilize. | ||
| And interestingly enough, as we talked about, Steve, on Friday, two things happened. | ||
| One, Larry Fink. | ||
| One of the worst of the Wall Street guys when it comes to investing in China and trying to enable their, well, military among other capabilities, said to Liz Clayman on Fox Business, if the U.S. government determines that there is a nefarious Chinese company, | ||
| we need to... | ||
| Delist them in our capital markets. | ||
| Well, not just delist. | ||
| We need to make sure that we're not trading in them. | ||
| And the key test here is going to be, is Larry Fink going to divest from the nefarious companies he's got? | ||
| And by the way, not just the ones listed, but also the A shares out of China, and maybe H shares as well, that he has put into a lot of people's portfolios. | ||
| And again, folks, this is your money. | ||
| And one other quick data point, Steve, also on Friday, Kevin O'Leary of Shark Tank tumbled onto something that was hugely important, and that is the idea that we've got a memorandum of understanding. | ||
| He didn't put it quite this way, but that's how this has happened. | ||
| Joe Biden initiated a memorandum of understanding that gave the Chinese communists privileged access to our capital markets. | ||
| And O'Leary was saying, hey, my companies don't get that treatment. | ||
| Nobody else's companies do. | ||
| Not any of ours, not anybody's overseas. | ||
| And they're using this to transfer trillions of dollars to the Chinese People's Liberation Army and other nefarious outfits. | ||
| The fight is against the lords of easy money on Wall Street and the sociopathic... | ||
| Our apartheid state in Silicon Valley in the big corporatists. | ||
| Frank, where do people go to get Committee on Present Danger? | ||
| We've got one great webinar after another. | ||
| People need to get it. | ||
| Those are not already up to speed, which is most of our audience. | ||
| A lot of our new audience, including any real-time with Bill Maher folks that are tuning in today, where do they go to get your great content? | ||
| Well, my personal is at x at Frank Gaffney and usfuture.org, our Institute for the American Future. | ||
| But also, Steve, two really important resources. | ||
| Committee on the Present Danger China is presentdangerchina.org, and the other is securingamerica@substack.com. | ||
| Thank you, Frank. | ||
| All week, we're going to be drilling down on this. | ||
| We're going to go back to what Ray Dalio said about this breakdown of the international monetary order. | ||
| One way that you can get up to speed, take your phone out, text Bannon, B-A-N-N-O-N, at 989898. | ||
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| Short commercial break. | ||
| We're going to drill down more on what's really at stake here for the nation. | ||
| For your community, your family, and yourself next in the world. | ||
|
unidentified
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And that's part of ensuring Chinese influence does not control that canal. | |
| It's in our direct U.S. interest, Will, to ensure that waterway is free and that our ships can transit freely. | ||
| So it was two historic arrangements. | ||
| That serve American interests, and it would never have happened without President Trump. | ||
| Without President Trump saying, this is important, China can't have it, China didn't build it, China won't operate it, this is key terrain for the U.S. and for Panama, and we'll partner together to keep China out. | ||
| Okay, that's part of this global expanding world. | ||
| Let me go back to Caroline Wren in Dubai. | ||
| Here's the point, is that these countries... | ||
| We need trading partners. | ||
| Of course, none of them have stood up and said, hey, what we're saying about reciprocity is wrong. | ||
| They know they've been doing this for years. | ||
| There is a way to have a trading order that puts America first and puts American citizens first and most importantly starts to bring back high-value-added manufacturing to the United States. | ||
| And no, Howard Lutnick is not going to all be done by robots. | ||
| We're not doing this so we can set up so robots have a better life. | ||
| In fact, I don't know why Lutnick's still doing media. | ||
| Let me be blunt. | ||
| Lutnick, who is Elon's pick for Secretary of Treasury, I think he's close to being an unmitigated disaster. | ||
| We should see a lot less of Lutnick on TV. | ||
| Hassett, Navarro, Jameson Greer, the trade rep, and particularly Scott Besant. | ||
| And I think Besant's being very smart in choosing and being very selective on the media. | ||
| We have to have a clear message and people understand what the process is. | ||
| And we have a process. | ||
| It's a very well thought through. | ||
| Oh, by the way, Stephen Miller should be doing more about trade and about this new economic order that we're trying to hammer through and not allow Wall Street and the corporatists in Silicon Valley to essentially give everything away to the Chinese Communist Party. | ||
| Isn't it interesting? | ||
| When you talk about deficits, folks, get back to Ray Dalio, which we're the first to highlight when he did the CNBC. | ||
| Interview 10 days ago, and that's how I'm sure the people at NBC said, hey, this must be important. | ||
| We'll put him on with Kirsten Welker, right, on Meet the Press. | ||
| His discussion about a collapse of the global monetary order is about Bretton Woods and what we set up post-World War II. | ||
| Well, here's the trading part. | ||
| The commercial part doesn't work anymore. | ||
| Hasn't worked for years. | ||
| How do I know it's not working? | ||
| Because... That's the $2 trillion deficit. | ||
| What's the $2 trillion deficit about? | ||
| Number one, you're not generating enough tax revenue from your own corporations because you're not creating high-value-added manufacturing. | ||
| So people don't have higher wages, so they're not taxed even in the lower brackets, right? | ||
| They're not taxed more because there are more jobs. | ||
| They're making more money. | ||
| Their wages are higher. | ||
| Also, the corporations are not making more money because they're not doing high-value-added manufacturing. | ||
| In addition, We're underwriting the entire defense apparatus. | ||
| This is why we have a trillion dollars, and a trillion dollars they're not happy with. | ||
| They're trying to put in this reconciliation another $150 billion. | ||
| They want over a trillion dollars. | ||
| Those two aspects of it lead us to have, with other things too, but it leads us to have a $2 trillion deficit. | ||
| It's not sustainable. | ||
| When these people are on TV whining and whining and whining, tell me what the alternative is. | ||
| Give me your alternative. | ||
| You don't like this plan? | ||
| Which is basically re-industrialize America and bring back high-value-added manufacturing jobs so people can actually have things called families around one wage earner, whether that be the husband or the wife, you pick them. | ||
| That's your choice and your family. | ||
| Tell me what the alternative is. | ||
| We're not living in an alternative. | ||
| That's how you have $36 trillion of debt. | ||
| That's how you have a trillion dollars every 100 days. | ||
| That's how you have a new budget. | ||
| There's reconciliation. | ||
| And let me be blunt. | ||
| The reconciliation right now, as I see it, is a fantasy. | ||
| It's a fantasy. | ||
| It's a dangerous fantasy. | ||
| And it shows a political class on Capitol Hill that's not prepared, as they have not been prepared for decade after decade after decade, to actually get to the heart of the matter. | ||
| And please, don't give me the phony, limited government, Republican, tiny town, oh, we're for liberty, we're for the Constitution, all you guys do is allow and vote. | ||
| And when they do vote to cut... | ||
| The biggest scam they got is they cut in the out years. | ||
| These are 10-year budgets, and they're saying, hey, we have conservative wins. | ||
| This is $1.5 trillion of cuts. | ||
| Well, folks, that's over 10 years. | ||
| That's in, I think, the analysis that was done, it's in $86 trillion of spending. | ||
| And those cuts will never happen because they're all in the out years. | ||
| This is a restructuring. | ||
| And Ray Dalio is a guy that made his money in China. | ||
| Bridgewater is one of the leading private equity firms that, hey, guess what? | ||
| Shipped the factories over there. | ||
| So it's not like his hands are clean, but he's a smart guy. | ||
| He sees the change. | ||
| When he goes back, remember, when he's talking about the collapse of the monetary order, in this order, he did not say, President Trump, what President Trump's do, and he doesn't agree with it. | ||
| He didn't say that was the main villain, the main villain here. | ||
| And the reason the bond market, I believe, Froze up last week, and the bond market's going to have a vote here, folks. | ||
| The bond market's going to, on the big, beautiful bill, the bond market's got to vote, whether you like it or not. | ||
| They're going to have a vote on this. | ||
| And what they said, their principal concern was the reconciliation bill that, once again, just has unlimited spending. | ||
| It's going to come down to this audience. | ||
| I can see it now. | ||
| This is not that complicated. | ||
| This is going to come down to a big, nasty fight where you... | ||
| And this show are going to be called every nasty name in the world because we're sitting there going, nope, sorry about that. | ||
|
unidentified
|
No, no, no, no, no, no, no. | |
| You can't do this. | ||
| You're burying the nation. | ||
| And we have to have a partner's conversation. | ||
| We have to be realist. | ||
| There were 25 to 40 votes no to get this thing through, and a compromiser's reach that, hey, we're going to take care of it in the process. | ||
| Have you heard that one before? | ||
| Did you hear that on the CR? | ||
| Have you heard that before? | ||
| We're going to take care of it. | ||
| Okay, we're going to see what taking care of it means. | ||
| Taking care of it does not mean a defense budget that's over a trillion dollars. | ||
| And I'm a hawk. | ||
| But I consider to be a... | ||
| And when I'm a hawk, you use every tool in the toolbox. | ||
| What do you think she is doing right now? | ||
| He's got a coup in South Korea, one of our greatest allies, a coup in South Korea to remove basically the pro-Western government. | ||
| Driven by the Chinese Communist Party, full stop. | ||
| You've got massive infiltration in Japan. | ||
| They're the first guys to tell you as they try to rearm. | ||
| You've got this group over in the past that was all financed by the Chinese Communist Party. | ||
| They've done military exercises like they're prepping for Pearl Harbor, right, like the Japanese fleet did outside of Tokyo for about two months. | ||
| They're doing it right in front of your face. | ||
| They're doing a full flex around Taiwan to say, Seventh Fleet, bring it. | ||
| He's down in Southeast Asia today around the littoral nations. | ||
| And he's not cutting deals. | ||
| He's imposing deals. | ||
| He's saying, here's what you're going to take. | ||
| If you don't like it, that's your problem. | ||
| This is kind of our terrain because we're Imperial Japan. | ||
| And he's doing the same thing on India and up there in the border. | ||
| He's got a border conflict now with Pakistan. | ||
| Geopolitically, on his chessboard, he is securing East Asia and Southeast Asia to say, hey, United States and your three-island chain and vast Pacific, I see what you're doing geopolitically. | ||
| I'll see you and I'll raise you one. | ||
| I will basically consolidate East Asia and Southeast Asia, so I will take that part of the Eurasian landmass, and then let's see what tough guys you are. | ||
| I'm in Brazil, I'm in Central America, and guess what? | ||
| The cartels are still my partner, and I understand the tariffs have cut fentanyl by 50%, and I understand you say you're going to come down with kinetic forces and blow these guys out of the water, but guess what? | ||
| They're still my partners, and I think we're doing pretty good because... | ||
| With the weakness in Canada, and Canada is one of the most infiltrated nations on this earth by the Chinese Communist Party, given what Castro's son did and allowed them to do over the last 20 years, they're feeling pretty good. | ||
| Yeah, I think we got the United States exactly what we got. | ||
| Now, we have every powerful tool in the toolbox because they don't exist unless they have, number one, access to our capital, both debt and equity. | ||
| Number two, the ability to take our technology. | ||
| And have you heard anybody but War Room screaming about the $30 trillion? | ||
| Because you're talking about deficits, so the $36 trillion in debt we have, and the $2 trillion of deficits every year. | ||
| We have $25 trillion of a trade deficit, $18 trillion just since China, since our elites brought China into the game, $18 trillion just with China. | ||
| Oh, by the way, intellectual property? | ||
| $30 trillion. | ||
| Okay? And do you have anybody in Silicon Valley? | ||
| No, because they don't mind the Chinese taking it. | ||
| What do you think you got? | ||
| You got all these venture capital funds, right, that are open to do it, to create a joint venture and let them take the, as long as we get access to the Chinese market, as long as we get access to their cheap labor. | ||
| If they need to take our intellectual property, they can take it. | ||
| Because, hey, it's just created in American universities or these small companies and the citizens of the United States who essentially paid for it are getting stiff. | ||
| Hell, we stiffed them on trade. | ||
| We're stiffing them on capital markets. | ||
| What Kevin O'Leary is saying over the weekend, the MOU Biden side gave the Chinese preferred access to our capital markets. | ||
| Number one, they don't even have to get audited. | ||
| They're audited by Chinese auditors. | ||
| How many times they found the scam that you go into the Chinese companies, you got the same guy, it's a CFO at like three different companies, right? | ||
| Under different names and cooking the books three different sets of ways. | ||
| The total deal is rigged from the top to the bottom. | ||
| It's rigged in your tax dollars and, worse, the little bit of retirement money you have that's managed by the Oregon State Pension Fund or CalPERS, the Alabama Teachers Fund or all of that, the firemen, the cops, the teachers, | ||
| you, your little bit of thing you put away. | ||
| That's all driven. | ||
| That's underwritten. | ||
| That's the equity capital that underwrote the jobs leaving. | ||
| The part of this that's the Greek tragedy is that the very people that played by the rules, i.e. | ||
| the American worker, the American middle class and working class, the very folks, the good housekeepers that husbanded their resources, that did exactly what they were supposed to do, in doing that, they got screwed. | ||
| Their tax dollars, what they underwrote to the universities, their pension funds, their 401ks, that's what paid for all of it. | ||
| And Wall Street, the global corporatists domiciled here in this country, and Silicon Valley, oh, let's throw in Hollywood, as they were sending the films over there, all skimmed 20% off the top, essentially, for themselves. | ||
| That's the reality of what happened. | ||
| And that is what President Trump is trying to do. | ||
| So this is more than a tariff. | ||
| It's more than a trade. | ||
| This gets down to a... | ||
| Unrestricted warfare the Chinese Communist Party has run against the West for about 25 years. | ||
| When they came to the conclusion after the Gulf War, these colonels looked at it and said, hey, foreign devils have really good military technology, and guess what? | ||
| They're very courageous and very brave. | ||
| I'm not so sure we can beat them mano a mano. | ||
| They believe in Nelson's theory. | ||
| Pull the thing up alongside, unsheathe the guns, and let's get it on. | ||
| That philosophy is not Sun Tzu. | ||
| Sun Tzu, no, no, no, no. | ||
| We're not going to do that because we're going to lose. | ||
| We've got to do something else. | ||
| We have to use psychological warfare, political warfare, cyber warfare, and most importantly, economic warfare. | ||
| And here's what they understood. | ||
| The greedy leaders of the West, the greedy leaders, the sociopathic, easy-money overlords of Wall Street, the global corporatists, and the apartheid state of Silicon Valley would be their partners. | ||
| This is why I told Graham Allison when he came for lunch that day about, you know, the Destined for War, his book on the Thucydides trap. | ||
| I said, yo, bro, I don't see in your analysis of the rising power and declining power, Athens and Sparta and all the different examples you lead, that the elites of the declining power make more money on the way down than they made on the way up. | ||
| Can I have another cup of coffee? | ||
| Yo, bro, that's what we got here in the United States of America. | ||
| The principal enemy in an unrestricted war that the Chinese Communist Party has run against us is the elites in this country that have sold this country out, sold her citizens out day by day, and made an immense amount of wealth. | ||
| Look at the concentration of wealth that's happened in this nation. | ||
| Not just the top 1%, top 2% or 3%. | ||
| They control virtually all the real assets and all the financial assets. | ||
| And the assets they don't control on financial assets or real assets, they're partners in crime in the Chinese Communist Party, in the Gulf Emirates, right? | ||
| In the oligarchs in Eastern Europe and Russia. | ||
| They control it. | ||
| And the factions of the families that run the deal out of Beijing. | ||
| They're called to, heretofore called their partners. | ||
| Short break. | ||
| Back in a moment. | ||
|
unidentified
|
Back in a moment. | |
| Here's your host, Stephen K. Van. | ||
| Okay, top of the hour, we're going to go back to the White House. | ||
| President of El Salvador will be there. | ||
| We're going to see the military pageantry outside the West Wing. | ||
| I believe the president's going to open up either in the Oval for a press avail or when they go in for lunch in the Cabinet Room for a press avail, but we'll be covering it nonstop, particularly since the Supreme Court's trying to get in the middle of President Trump being Commander-in-Chief. | ||
| Also in the live chat, note to live chat, Oh, is Steve going to talk about Pam Bondi and Cash and everything? | ||
| Yo, I did 45 minutes on Saturday. | ||
| I'm the only person who had Tom Fitton live on Tom Fitton's lawsuit against Pam Bondi, which is a big thing. | ||
| When Tom Fitton, his greatest Tom Fitton is, feels frustrated enough, he has to sue the Trump administration and the Attorney General for not getting off the dime, not just in the Epstein files, as Tom went through everything. | ||
| Everything's too slow. | ||
| So let's get that into the live chat. | ||
| Anybody missed the Saturday show? | ||
| Which you should not do. | ||
| But if you did, you got to see Tom Fitton's interview. | ||
| I think we took 45 minutes with Tom. | ||
| It was incredible. | ||
| Tom Fitton is at the end of his rope, and he's the best we got. | ||
| Mike Rogers joins us. | ||
| Mike, a big announcement for you today. | ||
| Can you walk us through it, sir? | ||
|
unidentified
|
Yes, and it's great to see you again, Mr. Bannon. | |
| After a very close race in 2024, three-tenths of one percent, we looked at the numbers and said the only way... | ||
| To help Michigan get back in the United States Senate is if we run for the United States Senate. | ||
| So today we announced we're running for the United States Senate to take back Michigan values to Washington, D.C., which we haven't had there in 32 years. | ||
| Two Democrats have represented Michigan in the Senate for 32 years long enough. | ||
| We're going to change that this coming, not this November, but next November. | ||
| But one of the things we learned... | ||
| Steve, is that we had to get engaged earlier than we did last go-round, and so we're not going to make that mistake again. | ||
| And so we've announced, and we're off and running, we're going to be the 800-pound gorilla on the freight train. | ||
| Mike, President Trump endorsed you last time. | ||
| This is one that a lot of people that follow this don't have on the radar right now. | ||
| Why do you think you can take out Slotkin in a year when Trump's not at the top of the ticket, sir? | ||
|
unidentified
|
Yeah, so it's an open seat. | |
| So there's no incumbent. | ||
| So Senator Gary Peters announced he's not running. | ||
| So this is really interesting. | ||
| You'll appreciate this, the irony of politics. | ||
| When we were running last year, people said you can't win because Donald Trump's on the ballot. | ||
| This year they're saying, well, you can't win because Donald Trump's not on the ballot. | ||
| The electorate of Michigan is changing. | ||
| And we did two pretty amazing things. | ||
| The least amazing was we lost. | ||
| That's not amazing. | ||
| The most amazing thing that we did is got nearly 2.7 million Republican votes in the last election. | ||
| For any Michigan candidate statewide, that's the most in Michigan history. | ||
| We also came closest to Trump votes than any other of the competitive Senate races that won, like Marino or Sheehy or McCormick in Pennsylvania. | ||
| We were closer to Trump votes than those folks were, even closer than Ted Cruz in Texas, how close he came to Trump votes. | ||
| So all the components are here. | ||
| And we looked at it and said, wow, because we had such a huge Republican vote count, we don't have to get 100 percent of them. | ||
| We need to get about 85 percent of them because it's a midterm to show up and vote. | ||
| And we will win. | ||
| That'll be about 51%, according to our modeling, about who shows up. | ||
| And so our universe is smaller. | ||
| We know who they are. | ||
| We're going to talk to them a lot. | ||
| We started out the shoot by having the national Republicans say, this is the guy that we have. | ||
| We put out a list today of hundreds of Michigan supporters saying, hey, this is the right guy. | ||
| We had a primary the last time. | ||
| I got nearly over 65% of the vote in that four-way primary. | ||
| We've done all that. | ||
| Now's the time to rally around a candidate to win. | ||
| So we're going to rally early, raise money early, build a ground game early, and we're going to target those voters to come back out. | ||
| And then we're also going to go at disaffected Democrats and independents. | ||
| That's how we're going to win. | ||
| So talk to me about, when you say Michigan values, you had Whitmer in the Oval and kind of weirdly hiding after she got in there. | ||
| What are the values of the MAGA voter? | ||
| That you're going to represent versus the non-traditional Michigan values that Whitmer and that whole group of Democrats in Michigan proposed, particularly in things like this big trade war we're in, the tariff battles, all that. | ||
| Give me the bid and the ask, the difference between you and what you represent in President Trump and the MAGA voter and what they represent. | ||
|
unidentified
|
Well, if you think about it, she should have covered her face in the Oval Office. | |
| We lost. | ||
| She did. | ||
| I don't know if your listeners or viewers saw that. | ||
| She literally held a folder. | ||
| Did you see that? | ||
| In front of her face. | ||
| That was a profile in courage. | ||
| I would expect anybody that wants to be President of the United States, and she does. | ||
| That was a profile in courage. | ||
| She hid behind her folders, sir. | ||
|
unidentified
|
Oh, I know. | |
| It's embarrassing. | ||
| That is not a Michigan value, where we come from. | ||
| I worked on a factory floor. | ||
| We would mock that behavior, actually. | ||
| And so if you think about where we have been in the last four years, in Michigan, we've lost under Whitmer and Biden 27,000 manufacturing jobs. | ||
| We're going to fight like hell to get those jobs back, number one. | ||
| And the way you do that is a pro-growth agenda. | ||
| Tax cuts, really, really important. | ||
| I know the president's working on this whole package. | ||
| The fact that the president and Doge is going after the federal government waste, fraud, and abuse, And have found, what, close to $200 billion already? | ||
| It's been 100 days, right? | ||
| People here don't like the fact that they have to send money to Washington to get wasted at that rate. | ||
| I mean, we've got to continue to do that. | ||
| And by the way, if you want a sound Social Security system, you've got to cut the waste, fraud, and abuse out of it. | ||
| Talked about it for 30 years. | ||
| Now we're actually getting it done under the leadership of Donald Trump. | ||
| So that changes everything. | ||
| This trade war, I have to tell you, there's a map that got put up recently that had what the trading imbalances look like around the world. | ||
| It was 90 percent blue for America, 10 percent red for China. | ||
| That was in 2000. | ||
| Today, it is flipped. | ||
| It's absolutely flipped. | ||
| It is all red, and you get U.S. and Mexico and Canada and, by the way, Iceland. | ||
| Thanks, Iceland. | ||
| We appreciate you hanging with us. | ||
| But if you think about what that means for jobs and the economy and the future of Michigan, I mean, that is what we need to take. | ||
| That voice we need to take back to Washington. | ||
| Mike, I know you got a punch. | ||
| Where do people go to your campaign site, sir? | ||
|
unidentified
|
Rogers4Senate.com. | |
| We need your help. | ||
| Listen, this has got to be early. | ||
| It's got to be often. | ||
| You got to come in. | ||
| We're going to get this thing done this time. | ||
| We're not going to have that three-tenths of a percent loss. | ||
| We know where we fell short the last time. | ||
| We're not going to let that happen. | ||
| And we're going to take the values of what Trump is doing now. | ||
| You know, he took the beachhead, I've been telling people, Steve. | ||
| He's got the beachhead. | ||
| Now we need to come in and help him. | ||
| Those 111 executive orders, we need legislative effort. | ||
| That's what's coming next. | ||
| You've got to send me there to do that. | ||
| Next wave. | ||
| Mike Rogers, thank you for joining us. | ||
| Mike Rogers announced for the United States Senate in Michigan early what's going to be a tough one against the Democrats. | ||
| Short break. |
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