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| Speaker | Time | Text |
|---|---|---|
| Jobless claims, and of course, these are for the week ending January 3rd. | ||
| So, there are potential seasonality issues here. | ||
| 208,000, that's a bit below estimates. | ||
| Last week's $199 pops back over $200,000. | ||
| Suffice it to say, these are really well-behaved initial jobless claims. | ||
| On the continuing side, always a week in arrears. | ||
| These are the week ending December 27th. | ||
| So, once again, there are seasonal issues here. | ||
| 1,914,000, very close to estimates. | ||
| Last week, well, we remained under 1.9 million. | ||
| The 1,866 becomes 1,858,000. | ||
| Also, well-behaved as we dabble between being above and below 1.9 million. | ||
| Let's look at productivity, shall we? | ||
| The secret salve of the U.S. economy, what Greenspan called a special sauce. | ||
| Well, this is the third quarter preliminary. | ||
| There will be changes. | ||
| 4.9%. | ||
| Extremely close to estimates and a really solid number. | ||
| In the rearview mirror, 3.3 becomes 4.1 for the last quarter's final. | ||
| So, 4.9, wow, you have to go a long way back to find a higher number. | ||
| We have to go all the way back to the third quarter of 2020. | ||
| Productivity is great. | ||
| And if we look at unit labor costs, unit labor costs come in, well, 1.9, down 1.9. | ||
| That's a minus sign. | ||
| They are lower. | ||
| Unit labor costs are lower. | ||
| That's always good news. | ||
| And in the rearview mirror, the 1% to the upside becomes minus 2.9 to the downside as costs drop. | ||
| And finally, on the trade balance, which we know is going to be a deficit, we're expecting a number around $58 billion. | ||
| Buckle up. | ||
| This is unreal. | ||
| The movement in this number. | ||
| Minus $29.4 billion. | ||
| We cut it basically in half. | ||
| This is the primal scream of a dying regime. | ||
| Pray for our enemies because we're going medieval on this people. | ||
| Here's not going to 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 try to do everything in the world to stop that, but you're not going to stop it. | ||
| It's going to happen. | ||
| And where do people like that go to share the big lie? | ||
| MAGA Media. | ||
| I wish in my soul, I wish that any of these people had a conscience. | ||
| 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. | ||
| It's Thursday, 8th January, Year of the Lord, 2026. | ||
| Thank you for being sticking around for the second hour of the morning edition of The War Room. | ||
| We're here in the studios of the Economic War Room, the great Kevin Freeman. | ||
| Thank you for this studio. | ||
| It's unbelievable. | ||
|
unidentified
|
So glad you're here. | |
| I know. | ||
| I've always been close to you, and your take on things is my take on things. | ||
| I'm going to get you into this conversation. | ||
| That's what I had. | ||
|
unidentified
|
Yep. | |
| I got Mal Pass and I got Joe Lavarnier over at Treasury. | ||
| Joe, we should be skipping around, lighting our hair on fire. | ||
| The productivity number, the trade deficit. | ||
| Of course, nobody, only Santelli wants to talk about it. | ||
| And that's why Rick Santelli is the great, Rick Santelli the Great. | ||
| Trade deficit, you cut the trade deficit in half. | ||
| Navarro and the team, it's working. | ||
| The productivity number hasn't been seen. | ||
| Now, wait for this, folks. | ||
| Connect the dots has not been seen since January 2020. | ||
| Who was President of the United States back then? | ||
| Donald Trump, before the Chinese Communist Party hit us with, and Fauci hit us with the pandemic. | ||
| Because remember, the fourth quarter of 2019 was Nirvana. | ||
| Low interest rates, no inflation, blue-collar wages rising higher than white-collar, high school graduates higher than college graduates. | ||
| It was literally the economic engine of President Trump of populist nationalism, cutting, you know, stopping illegal immigration. | ||
| All of it clicked. | ||
| You had the Biden years, we were handed a disaster. | ||
| La Vornier, you and Bessett's in Minneapolis. | ||
| That's why I said the other day to him: hey, with this thing happening in Minneapolis, you must, because this speech has been locked in for a couple of weeks. | ||
| You've got to go out there and talk to the business community and talk to citizens about what President Trump's economic package is, because that's the engine that's going to drive us through here. | ||
| And then people are going to realize: hey, the illegal alien situation is what's dragging the economy down. | ||
| Joe LaVarnier, can you walk us through the math that we heard this morning? | ||
| Yes, Steve, thank you. | ||
| First was the president making sure with the Secretary's help and many others that we didn't have a massive tax hike, the biggest ever, occurring in 2026, solidifying those gains from the Tax Cuts and Jobs Act of 2017, but then encouraging other phenomenon, other tools, so that you get strong productivity growth and you get strong productivity growth through deregulation, cheap and abundant energy, raising the cost, lowering the cost of capital, | ||
| raising its return by having full expensing of capital expenditures, adding the novel approach of full expensing for factories. | ||
| And then you encourage investment in this capital formation, will lead to higher wages, rising compensation, what we saw in the Trump administration. | ||
| Although what we're seeing recently has been, Steve, even more impressive because numbers have really accelerated. | ||
| So the productivity number that Rick had mentioned was about 5%. | ||
| There are other measures of productivity, which actually, even from a core perspective, are even stronger. | ||
| What's known as non-financial sector productivity is rising even faster. | ||
| But the point is, a disinflationary boom has been laid in place, been created. | ||
| We're seeing it in the GDP numbers. | ||
| It's now just a matter of time before we see it in the job market. | ||
| And, you know, yesterday's Joltz numbers, I think, were misreported in the press. | ||
| It showed that the level of openings are down. | ||
| They came from a really high level, but that was because of all the supply disruptions that occurred during the pandemic. | ||
| We're essentially at a job openings rate. | ||
| That's exactly where it was during the first three years of the Trump boom back from 17 to 19. | ||
| So to me, things look great. | ||
| The trade deficit numbers are excellent. | ||
| It's happening, Steve, because exports are surging almost 30% annualized in the last three months, while imports are down. | ||
| They're almost down, 30% annualized. | ||
| So it's a great combination of what's happening, and it's playing out exactly the way President Trump would describe it and how Secretary Bessett and Batt envisioned it playing out itself. | ||
| You're starting to see the traction with the Trump plan and coming at Liberation Day being on April 1st, then the work through to get the supply side tax cut to make sure that we can turbocharge capital investment. | ||
| And now the conversions of that, the tariffs as two things, a forcing function to force people to come here and build manufacturing plants here, or if you don't, pay the tariffs or the tolling fee to get here. | ||
| President Trump said, yes, I think he thinks it's going to be a trillion dollars. | ||
| It's some big number. | ||
| But you're starting to see the green sprouts of the economic plan. | ||
| You can't turn an aircraft carry around immediately, but you can tell the direction this is going. | ||
| And you see it from the productivity numbers, you see it from the trade deficit numbers, you see it from the increase in exports and the decrease in imports. | ||
| I mean, everything that we've planned for, everything that Scott Besson and the president have walked through, you're starting to get the traction on that. | ||
| And we really haven't even gotten to the tax refunds and things that are going to happen in this spring. | ||
| And I think, Dan, you're going to see the big turbocharge for really what's happening with the supply-side tax cuts, sir. | ||
| Steve, what has been misreported or not reported, I should say, in the press is that in the first data we have from when President Trump took office to November shows real wage growth, blue-collar wages, what are known as non-supervisory production workers within the employment report, rising about one and a half, 1.6%. | ||
| That's a huge increase, one of the largest we've ever had to start a new administration. | ||
| Now, fast forward, you're into 2026, the no-tax on tips, the no tax on overtime, that will further lift nominal wages. | ||
| That's the result of President Trump's policies. | ||
| But importantly, equally important, is the president lowering the cost of living for key items such as energy. | ||
| You're seeing energy move substantially lower. | ||
| Gasoline prices nationally are only around $275, $280 a gallon. | ||
| That is significantly lower than where they've been. | ||
| That is a tax cut for everyday working Americans. | ||
| And as the inflation rate moves lower, that will further expand real wages, which then get the added kick from those productivity gains that are starting and are set to continue through 26 and beyond. | ||
| No. | ||
| You used a phrase, I want to make sure we don't bury the lead here. | ||
| Disinflationary growth. | ||
| Disinflationary booms. | ||
| You're having growth that doesn't really boom. | ||
| Yeah, go ahead. | ||
|
unidentified
|
Boom. | |
| Go ahead. | ||
| Disinflationary boom, Steve. | ||
| This is kind of the reverse of how you've been hammered. | ||
| Take a second and walk us through that. | ||
| Yeah, so a disinflationary boom is one where the economy's underlying potential, its ability to create jobs, its ability to create income, its ability to create wealth, its ability to provide the goods and services that people want because the economy is growing quickly. | ||
| It's generating revenues. | ||
| It's lowering the deficit relative to GDP. | ||
| All the good things that economic theory tells us about how you raise living standards is starting to play out. | ||
| So a disinflationary boom is where the economy speed limit, we can grow faster. | ||
| We're not going to grow at the sub-2% rate, let's say the CBO predicts, and then they say there's going to be a debt Armageddon because, yeah, if we grew that week, we would have a problem. | ||
| Rather, we can grow at 3%, maybe even 4%. | ||
| And as that growth is accelerating, it's lowering the inflation rate because the economy could produce more because it's capable of running faster. | ||
| And the offshoot of that is workers, high profitability for companies that then are incentivized to reinvest back in the economy. | ||
| And the boom continues, and it's disinflationary. | ||
| It's the best sort of growth you can get. | ||
| So far be it from me to give advice to the president or the staff or Secretary Brezza. | ||
| As you know, Besson was a contributor here for years, close friends, colleagues. | ||
| Alexander Priate, who you know very well, I think is the best communications person next to Caroline Levitt in the entire government, and Stephen Chung. | ||
| She's just a superstar. | ||
| But yesterday, the president signed an executive order, and we're going to have Malpass on here, and hopefully maybe Oscar Blue will be on tonight. | ||
| He took out 66 of these international organizations we're in. | ||
| A massive deregulation play, coupled with the news that's coming out. | ||
| So Caroline Levitt's going to have a briefing while the VP is going to be there. | ||
| I keep saying you got to force the media to cover the real news because they're going to just chase Trump's derangement syndrome all the time. | ||
| So let's give him something freaking to be deranged about. | ||
| His economic plan is working. | ||
| This massive deconstruction of the global administrative state is working. | ||
| And they're working together to drive productivity and an economy for working class peoples in this country. | ||
| We've got to force these people to cover it because they're not going to cover it. | ||
| They don't want to cover his speech today in Minneapolis. | ||
| They don't want to cover you here, taking Rick Santelli's numbers and data and putting it into a narrative that people understand of what's happening. | ||
| And yesterday was monumental. | ||
| In fact, Oscar Blue Ramirez is going to be on tonight, I think, hopefully with Natalie to say, hey, this migrant compact that's driven all this madness throughout the world, including Europe and here in the United States, we're out of. | ||
| President Trump with a stroke of a pen got out of 66. | ||
| So can you help us out there over Treasury? | ||
| I know you're a superstar. | ||
| They brought you in. | ||
| You're doing a great job. | ||
| But we have to force, you keep saying, and your phrase is right. | ||
| And I'm talking about the business media. | ||
| I'm not talking about influencers, you know, with some blog. | ||
| The Bloomberg, the Wall Street Journal, the Financial Times of London, the New York Times business section, all the big four refuse to cover the true story of what's happening to the American economy. | ||
| With President Trump and Scott Besson and others, Navarro working thing. | ||
| This news, just on the trade deficit should be the lead story in everybody's paper because that impacts American working-class families more than anything, sir. | ||
| Steve, I'm an optimist. | ||
| I do believe this will be reported because the profile and the policies that the president has outlined, I truly believe are going to work. | ||
| The secretary believes it. | ||
| Their supply-side growth policies, they're tried and true. | ||
| And the productivity story, people know that's the key ingredient to raise living standards. | ||
| And the irony, Steve, is that's a bipartisan agreement. | ||
| But politicians, or I should say, economists on both sides of the political aisle. | ||
| We'll even argue even on the deregulation side. | ||
|
unidentified
|
That if you deregulate it, I got to train opportunities. | |
| I've got to train you up, brother. | ||
| You're such a good man. | ||
| You're such a good man. | ||
| That is not the way these guys work. | ||
| The business press is almost as bad as MSNBC and in the Washington Post and the New York Times front page. | ||
| Anyway, Joe Lavarnier, where do people get you? | ||
| The plan is working. | ||
| Thank you. | ||
| Thank you, David. | ||
| Don't take it from Joe Lavarnier. | ||
| Don't listen to the President of the United States. | ||
| Don't listen to Scott Besson. | ||
| The plan is working. | ||
| Look at the math. | ||
| Just listen to Rick Santelli. | ||
| Where do they go? | ||
| On the social media at SexScott Besson, at U.S. Treasury, at LaVornex. | ||
| Thank you, brother. | ||
| Appreciate you. | ||
| Great job. | ||
| We've got Poso out there today to Minneapolis. | ||
| Am I wrong, Friedman? | ||
| Am I yelling and screaming for the wrong reason? | ||
| They're not covering the true story of the economy, are they? | ||
| No, the media is all in on this anti-Trump. | ||
| They love the globalism. | ||
| CNBC, you didn't mention, but other than Rick Santelli and Joe Bernan and a few others, they're just far left. | ||
| Far left. | ||
| I like Becky. | ||
| Becky quick. | ||
| She tries. | ||
| Becky tries. | ||
| Becky tries. | ||
| Okay, we're going to take a short break. | ||
| Kevin Friedman is going to be David Malpass. | ||
| Malpass is going to walk us through what actually happened yesterday to deconstruct the global administrative state and free the United States of America and her citizens next in the war room. | ||
|
unidentified
|
In America's heart. | |
| Kill America's Voice, family. | ||
| Are you on Getter yet? | ||
|
unidentified
|
No. | |
| What are you waiting for? | ||
| It's free. | ||
|
unidentified
|
It's uncensored, and it's where all the biggest voices in conservative media are speaking out. | |
| Download the Getter app right now. | ||
| It's totally free. | ||
| It's where I put up exclusively all of my content 24 hours a day. | ||
| You want to know what Steve Bannon's thinking? | ||
| Go to get her. | ||
|
unidentified
|
That's right. | |
| You can follow all of your favorites. | ||
| Steve Bannon, Charlie Kirk, Jack the Soviets, and so many more. | ||
| Download the Getter app now. | ||
| Sign up for free and be part of the new thing. | ||
| Okay, welcome back. | ||
| I got Kevin Freeman with me from Economic War Room, one of the experts, and also David Malpass. | ||
| Join us. | ||
| So, okay, Malpass, we've got the Trump economic plan is working. | ||
| The media doesn't want to talk about it. | ||
| We got the trade deficit, folks. | ||
| Massive. | ||
| The cut there shows you Trump's bringing manufacturing back here and exporting up 30%, imports down 30%. | ||
| At the same time, we're having full-spectrum energy dominance. | ||
| But, Malpas, you keep saying, Hey, I hear you, I hear you, I hear you. | ||
| But the globalists are aligned against you, they're aligned against this model, and they're particularly aligned against President Trump. | ||
| Now, you were the first to get to me last night and said, Hey, look, I don't think people understand the implications of the 66 he got out of, including the Global Compact on Migration and many others. | ||
| But he said, The big ones still exist, and they are united to break the populist nationalist economic model in the United States of America. | ||
| David Malpas, you know, some you've got some experience as you were the number three guy, I think, in Treasury in President Trump's first term, head of international. | ||
| You've been head of the World Bank. | ||
| What say you, sir? | ||
| Hi, Steve. | ||
| You're right. | ||
| The media won't want to cover it. | ||
| But the reality is 66 organizations is the tip of the iceberg. | ||
| Globalism is the dominant theme. | ||
| So there is this opportunity. | ||
| President Trump is going to go to the World Economic Forum. | ||
| That's the Davos Forum in Switzerland. | ||
| So the world is going to view this as great for Switzerland. | ||
| They're going to raise the GDP forecast for Switzerland because all the Americans are coming in and spending money. | ||
| But it's an opportunity for President Trump and the whole team to make noise. | ||
| This is the United States against socialism and against globalism and elitism. | ||
| They should go in and make the point to the world that the reason for poverty is because governments and central banks are controlling your lives. | ||
| They're controlling your money and they're doing badly at it. | ||
| We just heard Joe Lavorgna talking about supply-side growth policies. | ||
| Those are working. | ||
| And the idea that there can be an economic boom, I want to tell that, and I hope the president and the administration can tell that to the people of Nigeria: that you can have an economic boom if you allow markets to operate and you get away from the control of your central banks. | ||
| There won't be the Islamic terrorists with coalition and killing Christians in Nigeria. | ||
|
unidentified
|
Hang on. | |
| I got that. | ||
| I got that. | ||
| But that's lecture in Nigeria. | ||
| Fine. | ||
| But what can President, what does President Trump have to do here? | ||
| Because he's got these big institutions. | ||
| We have a growth plan. | ||
| That's what the whole bet is. | ||
| We talk about this on the show all the time. | ||
| It's a risky bet, but you mitigate the risk because, as Scott said all the time, and you said, if you didn't do a supply tax cut this time, it was gone. | ||
| You didn't have another chance, right? | ||
| You had to go to another model. | ||
| We've got it, and we now know we've got GDP growth 4.3%. | ||
| You now had the backup numbers today. | ||
| Things are directionally moving in the right direction. | ||
| And you see the green sprout of the theory of supply sides actually working. | ||
| However, he's got institutions like the Federal Reserve, like the World Bank, like IMF, and these other globalist institutions that, through the executive order, he did not get us out of, et cetera. | ||
| And as you've talked about, they are anti-growth and their policies are anti-growth. | ||
| Before we lecture the Nigerians or the rest of the world of the benefits of capitalism, we got to have capitalism here. | ||
| This is my whole point. | ||
| We don't have a capitalist system. | ||
| We have a corporatist system. | ||
| And the driver and one of the foundational elements of the corporatist system is a central bank and the lords of easy money on Wall Street that fight against populist economics. | ||
| What's your recommendation? | ||
| President of the United States thinks very highly of you. | ||
| What's your recommendation to the president of the United States? | ||
| That we got to take the torch to the enemy here, sir. | ||
| That exactly right. | ||
| And there needs to be new models, sweeping reform of the models. | ||
| You know what? | ||
| The central banks around the world, it's not just the Fed, it's the IMF and central banks worldwide, think that inflation targeting works. | ||
| It doesn't at all. | ||
| We need a price rule monetary policy. | ||
| That's a core part of the supply side. | ||
| And that's consistent with what President Trump wants. | ||
| That's dollar dominance. | ||
| You know, you're right that we're getting toward energy dominance, but we're still weak on the dollar. | ||
| And that gives us the new investment into the U.S. that's going to allow us to rebuild all of the supply chains. | ||
| So that needs to be core changed at the Federal Reserve. | ||
| I think Davos is an opportunity to say it: that we stand for prices being stable. | ||
| And that means central banks have to stop with their stupid models: the Phillips curve, the Nairu model, the QE. | ||
| You know, Secretary Besson has been really clear on that not working. | ||
| It causes income inequality. | ||
| But what did the Fed do on December 11th? | ||
| They announced another round of QE, the expansion of their balance sheet. | ||
| So it's going to make conditions worse for people at the bottom of the scale as they protect the top end. | ||
| One good piece of news, Steve. | ||
| Last this morning, Secretary Besson came out and closed the U.S. contribution to the Green Climate Fund. | ||
| So they started last night with 66, and they were building on that today. | ||
| So I think the momentum can be very clear to the world that we're stopping globalism, we're stopping the elitism, and we're stopping the models that hold us back. | ||
| The 10-year yield, however, was up this morning. | ||
| It's 4.18 way above the 10-year yield in China. | ||
| So you know something is wrong with the models when we're paying more for money than China is paying. | ||
| That's because we have stupid central bank models. | ||
| David, where do people go and get your social media? | ||
| You've got a lot of great comments on the 66 the media hasn't covered. | ||
| We try to get a clip, not one peep, and two of these are massive. | ||
| Well, all of them are important, although David's right. | ||
| We didn't get to the heart of the matter in a couple, but two of them are massive. | ||
| The Global Compact on Migration and what you just mentioned on the climate, on that whole climate change cult. | ||
| We got all the important ones there, and then Besson today cut the money off. | ||
| So they're in the mumble tank on this. | ||
| Where do people go to get your social media, David? | ||
| At David R. Malpass. | ||
| But and people can also just plain Google things like IMF quota increase. | ||
| That shows you that the international organizations are fully planning to grow. | ||
| And so far, that hasn't been cut off. | ||
| That beyond the 66 that they did, there's another 66 that are even bigger that need to be reconsidered. | ||
| Tell you what, we're going to have you on again and go through the second wave of the 66, the bigger and the bigger ones and the gnarly ones. | ||
| Hopefully, the Wall Street Journal, Paul Giga, and the team over there will allow you to continue to put those great op-eds up on the Wall Street Journal. | ||
| David Malpass, thank you much. | ||
| Thank you so much, sir. | ||
| Appreciate you. | ||
|
unidentified
|
Thanks, Steve. | |
| Kevin Friedman, your assessment. | ||
| Well, either we're talking about decreased taxes, decreased regulation, decreased globalization, and stable money. | ||
| You put those together, you've got a boom and full-spectrum energy dominance. | ||
| You have a booming economy, a disinflationary boom. | ||
| I don't think I've ever heard that phrase before, right? | ||
| It's the exact opposite of stagflation. | ||
| If you've got stagflation where you've got inflationary recession, this is discussion. | ||
| Well, remember, no growth under Biden. | ||
| You know, many months that you actually had retreats, so you had the beginnings of a recession, plus high inflation. | ||
| That's classic stagflation. | ||
| Well, because we grew the government faster than we grew the economy, and that's what happened. | ||
| Well, if you actually backed out the government spending, the massive government spending under Biden, you'd had negative growth the entire time. | ||
| As soon as you back out, because that's a trick they pull, right? | ||
| They have the massive spending. | ||
| Now, you are one of the folks that focuses on deficits, debt, and the dollar. | ||
| We have a $2 trillion deficit. | ||
| President wants to increase national security to basically double it from $800 billion toward roughly a trillion to $1.5 trillion. | ||
| He says the tariffs will offset that. | ||
| What's your concern about? | ||
| Because all I see is the deficits. | ||
| We're not getting a handle around them, right? | ||
| I'm just talking about the math. | ||
| And you've got the debt at $38 trillion and hurtling towards $40 trillion. | ||
| What say you? | ||
| Yeah, the number one national security risk we have is our national debt. | ||
| That is all. | ||
| You would tell the president that. | ||
| You're saying, hey, look, I understand you want to go to $1.5 trillion. | ||
| We've got hemispheric defense, got all the stuff you're trying to do, but your bigger national security risk is the debt. | ||
| Yeah, absolutely. | ||
| National security, defense is a legitimate government business. | ||
| They ought to be in that. | ||
| But you can't just increase another half trillion to $700 billion in debt without repercussions. | ||
| We've got to reduce our deficit. | ||
| We've got to stabilize that because we've grown government faster than we've grown the economy. | ||
| And that is a trajectory for failure. | ||
| Talk to me about Economic War Room. | ||
| Got about a minute. | ||
| Where do people go to get it? | ||
| How do they get your social media? | ||
|
unidentified
|
All of it. | |
| Yeah, Economic War Room is on Blaze Television and about 10 other platforms. | ||
| You can get it at economicwarroom.com. | ||
| I'm Kevin D. Freeman X on X. | ||
| So Kevin D. Freeman X on X. | ||
| This facility is pretty amazing, Freeman. | ||
| I mean, this is state of the art. | ||
| Yeah, we've got some good friends that helped us get it. | ||
| No, no, it's incredible. | ||
| You guys do such great work. | ||
| In 30 seconds, concerns you have of where we're heading economically. | ||
| We've got good news today. | ||
| Santelli told it. | ||
| LeVrognier, what keeps Kevin Freeman up at night? | ||
| Well, I call it the six trials by fire. | ||
| It starts with debt. | ||
| That turns into a dollar attack. | ||
| That turns into central bank digital currency. | ||
| That turns into a wealth gap. | ||
| That turns into a demographic gap because people can't afford to have babies. | ||
| And the sixth trial by fire is so we import people to replace them and it becomes an invasion by immigration. | ||
| All of that's the death knell of America. | ||
| It's in my next book that's coming out in the spring, Four Horsemen of the American Apocalypse and our Six Trials by Fire. | ||
| When does that come out? | ||
| Probably March. | ||
| Okay, fine. | ||
| So those are all inextricably linked. | ||
| Hang on for one second because I'm going to ask you the punchline of how do we break that. | ||
| Hang on. | ||
| Kevin Freeman's with us. | ||
| In fact, we're with him. | ||
|
unidentified
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Here's your host, Stephen K. Bannon. | |
| Okay, we've had a clip from Rick Santelli. | ||
| We've had a major interview with one of the senior guys in the Treasury Department about the economic speech Scott Betson's going to make today in the numbers. | ||
| That's Joe Lavarnier. | ||
| We've had David Malpass, former head of the World Bank, and the number three guy in the Treasury Department, President Trump's historic first term. | ||
| We've got Kevin Friedman, economic warfare, war room. | ||
| So we've covered capital markets in the economy, and we still haven't done enough. | ||
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unidentified
|
Check it out. | |
| Dave, pennies every day. | ||
| Take all the anxiety away. | ||
| Kevin Friedman, you're one of the toughest hombres I know when it comes to populist nationalist economics. | ||
| Walk me through. | ||
| The book's coming out in the spring, Four Horsemen, but you've got these six things that are going to destroy America, and they seem like they're linked. | ||
| Just walk me through it one more time. | ||
| Yeah, all right. | ||
| The four horsemen are China, Islamists, globalists, and traitors and cowards here in America. | ||
| And the six trials by fire is the first ones are debt. | ||
| The problem with our monetary policy is that they have to buy all this government debt because the government's overspending. | ||
| That's the problem. | ||
| That debt's now $38.5 trillion. | ||
| It's increased approximately quadrupled every two decades. | ||
| You can't do that. | ||
| It's unsustainable. | ||
| It's debt. | ||
| If we continue on that path, then our enemies will beat us. | ||
| We're going to destroy the U.S. dollar. | ||
| Because it's down 28% since Biden, since Biden raised his hand when he stole the election and nobody showed up to the inauguration. | ||
| Remember that? | ||
| That had circles out there was embarrassing. | ||
| It was embarrassing because they're such phonies you knew what they were doing. | ||
| 28% drop in the value of the U.S. dollar since that time. | ||
|
unidentified
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Right. | |
| What we did is embolden those that want to crash the dollar. | ||
| This has gone on for decades. | ||
| You can read it in the Chinese unrestricted warfare. | ||
| You can read it wherever. | ||
|
unidentified
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All right. | |
| So that's the next thing is you attack our dollar. | ||
| That causes a response. | ||
| Well, let's create central bank digital currency. | ||
| If we do that, then we can get families. | ||
|
unidentified
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Forget it. | |
| Forget it. | ||
| That creates a wealth gap. | ||
| All of this. | ||
| The inflation. | ||
| So the rich get richer, the poor get poorer. | ||
| It's the cronyism you talk about. | ||
| That leads to people not trusting that they can have families buy a house. | ||
| Later family formation, lower less kids. | ||
| Lower birth. | ||
| So we're now dying on birth rate. | ||
| Then you've got to bring people into the wall for the last one. | ||
| They want to drive GDP. | ||
| They want wages lowered. | ||
| All of it. | ||
| So you import our enemies. | ||
| Those are the six trials by fire. | ||
| They're all in. | ||
| And you see it happen in Somalia right now. | ||
| David Zeer is going to be out there. | ||
| Thank you so much for letting us be here. | ||
| This is magnificent. | ||
| We're coming back. | ||
| This is better than Real America's Voice. | ||
| This is better in our street. | ||
| Just kidding. | ||
| Kidding. | ||
| No, but this thing is magnificent. | ||
| Plus, I'm very well lit, and I like the camera angles. | ||
| Hint to my producers. | ||
| Kevin Friedman, thank you, brother. | ||
| Thank you, Joe. | ||
| Appreciate you. | ||
| One of the best guys out there. | ||
| Economic World, Kevin Friedman. | ||
| Hold it. | ||
| Brian Harrison. | ||
| Brother, you had a drudge. | ||
| Brian Harrison, for all your big talk, all your big talk down there and everything you talk about. | ||
| Yesterday on Drudge in the left-hand column, which is kind of their lead column, they have Texas A ⁇ M outlaws Plato and they blame Brian Harrison from Texas. | ||
| What in the hell is going on down in Texas A ⁇ M, brother? | ||
| We're not teaching philosophy. | ||
| We're not teaching the classical masters of Athens and Rome, sir. | ||
| You know what, Steve? | ||
| There are few things that taste better in the morning than a great cup of freshly brewed coffee. | ||
| But I'll tell you what, Steve, liberal tears from leftist progressive Marxist ivory tower academics are one of them. | ||
| And let me tell you, you know, this is a completely manufactured scandal from the left-wing inmates that have been allowed to run the asylums in our Texas public universities for many years. | ||
| They are crying crocodile tears mixed with some real tears now because for the first time, thanks to the victories that I've been able to deliver down here in Texas against transgender indoctrination, by the way, with a massive assist from grassroots patriots like the posse, we've been able to finally force out the liberal DEI advocate Obama professor or president of Texas A ⁇ M, liberal transgender indoctrinating professors. | ||
| And what's going on now is a complete hissy-fit temper tantrum by these left-wing progressives manufacturing a scandal. | ||
| Liberal academics at Texas A ⁇ M have concocted a fake story where they slipped in a few sentences from Plato into the section in a course on transgenderism that they knew was going to get cut. | ||
| And then they run to their liberal mouthpieces and their allies in the mainstream media. | ||
| And next thing you know, BAMO, a fake scandal that's spreading across the country by the liberal mainstream media. | ||
| No, Texas A ⁇ M has not banned Plato. | ||
| But what is happening is that for the first time in well over a decade, we have been able to force some constraints and some limitations on transgender indoctrination. | ||
| That's all that's happening here, and it's good. | ||
| Yeah, I mean, look, I think it's Symposium with Socrates and Alcibiades, and Alcibiades became a great general, and Alcibiades was a little out there. | ||
| That has some issues, and they talk about camaraderie, right? | ||
| So that has some issues. | ||
| Is that what they're cutting down? | ||
| I don't know what they discussed. | ||
| That's what they mean by camaraderie. | ||
| I don't know. | ||
| It's the Greek army, man. | ||
| Talk to me about murmur. | ||
| I think Alcibiades became a general. | ||
| He was like the Brad Pitt of it all, and Socrates was like a sergeant. | ||
| But what did they cut? | ||
| Why did they focus? | ||
| I know why they focused because they wanted a drudge link with Plato with the statue saying Brian Harrison and a bunch of right-wingers at the war room and the war room posse have now driven out classical education, which the Aggies, as we know, you guys get in, there's so much classical education down there at Texas A ⁇ M. | ||
| But what were they selectively saying that was wrong with Plato and is your thing trying to get rid of this transgenderism indoctrination? | ||
| Right. | ||
| No, because after the massive, I mean, one of the biggest successes we've had against liberal indoctrinations in the country, we were able to force down here, again, with the posse. | ||
| We removed the DEI and transgender advocating president of the university. | ||
| And so the leadership of Texas A ⁇ M finally got the message, hey, maybe we need to do something about all this transgender indoctrination on campus. | ||
| And so what they've done is they're doing reviews now. | ||
| And if there are syllabus that have explicit transgender advocacy, which yes, tons of them did, they're saying, hey, remove that part from the syllabus. | ||
| So what it looks like happened here is a liberal professor, knowing this was going to happen, changed his syllabus, put in a couple sentences from Plato in a section that he knew wasn't going to make the cut. | ||
| And then when it didn't make the cut, he's screaming bloody murder, these alligator tears. | ||
| This is a total, total forest. | ||
| But here's the bigger issue, Steve, is while we've been able to, again, with the posse, enact the biggest reform and biggest victory against transgender indoctrination, we still have a lot of work to do because what we're seeing here is that this leftist, cancerous, transgender DEI indoctrination, this rot and this cancer has metastasized to almost every organ in higher education in Texas. | ||
| And in fact, a formal group of faculty members at Texas A ⁇ M just a couple weeks ago formally recommended to reinstate the transgender indoctrinating professor that we were able to get fired. | ||
| So this just shows how deep the rot runs. | ||
| We have a lot more work to do. | ||
| And the fact, and it just continues to expose that the inmates have been running the asylums in higher education at Texas public universities for a long time. | ||
| So we've made tremendous progress with the help of the posse, but we've got a lot of work to do. | ||
| And again, if you want to study this kind of stuff, you know, transgender advocacy or how women of hip-hop pushing back against the male gaze, yes, that's a real course at Texas A ⁇ M. You know, if you want to study that stuff, there's no censorship here. | ||
| There's no First Amendment issues like the left-wing press wants to say. | ||
| You study that nonsense, fine, but do it with your own damn money, not on the backs of my hardworking and already overtaxed 30 million men and women of the state of Texas, who I'm proud to fight for. | ||
| Hang on. | ||
| You're telling me the Aggies, it's the women of hip-hop under the male gaze? | ||
| Was that the question? | ||
| I believe it's a direct quote from a syllabus that I obtained a copy of. | ||
| Yes, women of hip-hop push back against the male gaze. | ||
| Yes, that is literally being taught at my alma mater, Texas. | ||
| And here's the thing. | ||
| People think I'm attacking Texas A. | ||
| This is ridiculous. | ||
| I'm a proud member of the Fighting Texas Aggie class of 2004. | ||
| I love Texas A ⁇ M, and I am trying to restore Texas A ⁇ M to its pre-woke glory, get the focus back on engineering, agricultural, mathematics, the basics of education, so that Texas can have the best, highest rated, most educated workforce in the entire country. | ||
| Can you just talk to the nation now about, just for a minute or two, Ron DeSantis yesterday said that he's recalling the Florida legislature to kick in the redistricting. | ||
| We had an Epic Fail in Indiana. | ||
| Just talk to people how important this was and what we had to do with your leadership and the folks at Patriot Mobile to get Texas to move. | ||
| Of course, Abbot is now saying, hey, for me, it was his plan from the beginning. | ||
| He told the president, you know, I would have done eight, but Harrison and Bannon and these guys held me back. | ||
| They only wanted to fight. | ||
| Just give me a minute on the battles there around the country and how patriots have to step up for this redistricting fight, and we got to do it now. | ||
| Well, absolutely. | ||
| And I think it exposes that we were right, Steve. | ||
| You and I, the posse, we were right. | ||
| Texas should have gone bigger. | ||
| We should have been maximalist. | ||
| We should have been bold. | ||
| We should have gotten more than five seats, which, yes, we absolutely could have if we'd have had more courage coming out of Austin. | ||
| So look, it's a good thing we got the five seats. | ||
| I do not believe it would have happened except for the prairie fire that was lit by the posse and by grassroots patriots across the country. | ||
| We got the five. | ||
| We should have gone bigger. | ||
| But here's the message I would give to my lawmakers, not just my colleagues, my counterparts, conservative lawmakers in red states like Florida. | ||
| Ignore the noise in the mainstream media. | ||
| The left-wing, the Democrats, CNN, MSNBC, they're going to run the same playbook, whether you add one Republican seat or you add 10 Republican seats. | ||
| So go if you can get it. | ||
| If the voters of your state will endorse you doing it and you've got the votes for it, you go and you get every Republican seat you've got because it's not like the whole narrative of the national media is totally on its head. | ||
| It's wrong. | ||
| They're saying, well, Democrat states like California are responding to Texas. | ||
| This is nonsense. | ||
| The left-wing media and the Democrats have no problem with redistricting to maximize partisan political advantage. | ||
| They're just mad that Republican states like Texas and Florida are finally getting into the game. | ||
| So, if you're a lawmaker in Florida, say thank you to your governor who's calling you back to the Capitol. | ||
| And you pass the boldest, most aggressive, make sure it's lawful, but pass the most aggressive, ambitious map you can to maximize the number of Republicans that you can send to the U.S. Congress because the stakes could literally not be higher. | ||
| We are talking about what may or may not determine whether the United States Congress falls into the hands of the radical Marxist progressive leftist Democrats and whether or not President Trump gets to enact a four-full year term to make America great again. | ||
| The stakes couldn't be higher. | ||
| Fight as hard as the Democrats, fight harder than the liberal media. | ||
| Do the right thing for your voters, the freedom-loving patriots in Florida, Texas, and all across the country. | ||
| President Trump said when he went up to talk at the Kennedy Center to the Republican conference, and he gave an hour and 50-minute speech. | ||
| We covered it live. | ||
| He talked about it. | ||
| He says, Hey, guys, we got to fight because if we lose this thing, first thing you're going to do is impeach me. | ||
| He actually said it for the first time publicly. | ||
| Brian Harrison, are you going to be with us tomorrow morning? | ||
| What's the social media? | ||
| How do we keep up with you between now and then? | ||
| Yeah, go to the most hated social media account in the state of Texas at Brian E. Harrison. | ||
| Sorry, that's the email. | ||
| Go to Twitter, BrianE. Harrison on X. Brian E. Harrison, do your civic duty today. | ||
| Go piss off a rhino. | ||
| Go follow me. | ||
| Like, follow, share. | ||
|
unidentified
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And here's your host, Stephen K. Bannon. | |
| Okay, we only deal with the best. | ||
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| Taj Gill, you're with me over the next couple of days. | ||
| Brian Harrison just said he's got to start every day with a great cup of Warpath coffee. | ||
| What do you got for us as coffee? | ||
| Coffee, 15% off, as always. | ||
| Use promo code Warroom. | ||
| The website is warpath.coffee. | ||
| As you know, it's the best coffee out there. | ||
| We've got almost 16,000 five-star reviews. | ||
| By the way, people have stuff up on Amazon forever and never even come close to a fifth of that. | ||
| That shows you. | ||
| That's on our website. | ||
| Yeah, that's what I'm saying. | ||
| But I'm saying that people, even on Amazon, where they have them, that's just a web. | ||
| You never go to a website and see them and read them. | ||
| Don't take it from Steve. | ||
| Look, I'd love it. | ||
| And here's where I'd love it. | ||
| This is my head of security. | ||
| He said he wanted to do this. | ||
| He worked years. | ||
| I said, Taj, you're a gunman, right? | ||
| You're raised on bad Navy coffee. | ||
| Both of us were. | ||
| So you're just a gunman. | ||
| And then the dark roast wasn't perfect. | ||
| He worked for another year, got the darker. | ||
| Best dark roast. | ||
| I'm an aficionado of dark roast coffee. | ||
| The best ever made. | ||
|
unidentified
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The best. | |
| The best. | ||
| Yeah, it's incredible. | ||
| People love it. | ||
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| We keep roasting bigger and bigger batches, like thousands and thousands, like 10,000 warpet.coffee. | ||
|
unidentified
|
There we go. | |
| Hang on for one second. | ||
| I know you got something to say about Minnesota because you're a gunman at the end of the day. | ||
| You're a law enforcement guy. | ||
| But I got Mike Lindell. | ||
| Mike Lindell, I'm here for you to give the Warren Posse a deal. | ||
| However, I think it's universal. | ||
| You won the first debate. | ||
| I'm so proud of you. | ||
| Because as you know, I wasn't too sure about this. | ||
| I'm not too sure about this governor thing. | ||
| Now I'm all in. | ||
| You were magnificent last night. | ||
| It was, I had the solutions for everything they asked me. | ||
| And I think that's what it made it. | ||
| It flowed. | ||
| It was smooth. | ||
| It's not just the solutions. | ||
| 70% of the walls yesterday shows you the folks in Minnesota, even if you're not MAGA, if you don't like Trump, you know, it's got to stop. | ||
| That's got to stop. | ||
| He's embarrassing one of our greatest states in front of the world. | ||
| And what he did yesterday is unacceptable. | ||
| A change, I think he's got to go now. | ||
| Mike Lindell, deals for the Warren Posse. | ||
| You guys, this is the last day. | ||
| All good things must end. | ||
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| Free shipping on your entire order. | ||
| The last day, all good things come to an end. | ||
| But you guys have really been amazing support of my pill and my employees. | ||
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| Get that free shipping promo code War Room. | ||
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| Okay, you're going to bounce down and answer a few lines, I know, but you got another big debate this afternoon. | ||
| What time's the debate? | ||
| We streamed it yesterday. | ||
| We had huge numbers, massive numbers. | ||
| What time is your debate this afternoon? | ||
| Debate, it's 5 o'clock Central Time, 6 o'clock your time, Steve. | ||
| And I believe it goes three hours again like last night. | ||
| It was pretty amazing. | ||
| Let's do it. | ||
| And they say I hit 70% of the crowd. | ||
| I think it was higher, but I'll take 70. | ||
| That was huge. | ||
| There was six of us on that stage. | ||
| Yeah. | ||
| Mike, people love you. | ||
| And I got to tell you, from citizens of this country that are not Minnesotans, folks, what is happening up there with Walls and that mayor, not acceptable. | ||
| And you're embarrassing yourself in front of the world right now. | ||
| Mike Lindell, one more time. | ||
| Where do they go? | ||
| What number do they call to get you to take a couple of calls? | ||
| Yeah, you guys got 800-873-1062. | ||
| That's promo code Warroom, 800-873-1062. | ||
| You guys, last day for the sale. | ||
| This is it, guys. | ||
| Free shipping. | ||
| We have over 250 items go. | ||
| So let's, i'm gonna head downstairs. | ||
| I'm gonna take about 10 calls today, you guys. | ||
| Good, let's light them up for Mike Lindell. | ||
| Mike, we'll see you at six, we'll watch it, we'll stream, all right. | ||
| Um, we've got about a minute. | ||
| You've got some thoughts about the situation in Minneapolis. | ||
| Yeah unfortunately, the actions of this lady led to her own death. | ||
| Um she, she obstructed a federal operation. | ||
| She, she set up a roadblock on her own and then the feds told her to get out of the car. | ||
| She disobeyed. | ||
| So she's non-compliant. | ||
| At that point a federal agent stand said, get out of the effing car when a guy and not just that, when he grabs the thing to have you out got to comply, got to comply and there's, there's a federal agent standing in front of her car. | ||
| So then she tries to flee the scene of the crime that she created and by doing that she started to run over a federal agent and he fell back on his training and that the federal agents, they have no duty to retreat. | ||
| He doesn't have a duty to retreat. | ||
| She does. | ||
| So he, he fell back on his training. | ||
| He unholstered his weapon and shot her. | ||
| It's her fault, she created the whole situation. | ||
| Unfortunately, she's dead. | ||
| These and the reason these people are doing this is because of the political rhetoric that comes from politicians. | ||
| They created this. | ||
| Charlie Kirk show is next. | ||
| Posto's at Minnesota with Scott. | ||
| We're going to stream the Secretary of Treasury. | ||
| Natalie's here at five. | ||
| Joe Allen at six. | ||
| We're active all day. | ||
| I'll be up on Getter. |