Bannon's War Room - Episode 2130： Labor Day： MAGA's Holiday

00:00:00.000 Well, the virus has now killed more than 100 people in China and new cases have been confirmed

00:00:04.700 around the world. So you don't want to frighten the American public. France and South Korea have

00:00:09.180 also got evacuation plans. But you need to prepare for and assume. Wrongly warning Americans to

00:00:15.260 avoid all non-essential travel to China. That this is going to be a real serious problem. France,

00:00:20.440 Australia, Canada, the U.S., Singapore, Cambodia, Vietnam, the list goes on. Health officials are

00:00:25.240 investigating more than 100 possible cases in the U.S. Germany, a man has contracted the virus.

00:00:31.920 The epidemic is a demon and we cannot let this demon hide. Japan, where a bus driver contracted

00:00:37.860 the virus. Coronavirus has killed more than 100 people there and infected more than 4,500.

00:00:44.560 We have to prepare for the worst always, because if you don't, then the worst happens.

00:00:49.580 War Room Pandemic. Here's your host, Stephen K. Bannon.

00:00:57.260 OK, welcome. It's Labor Day, Monday, 5 September in the year of our Lord, 2022. You're in the war room.

00:01:06.020 It's the traditional. This is the last day of summer. Everybody's enjoying it to get to get their

00:01:12.220 batteries recharged one last time through this weekend for for the big sprint, not just in November

00:01:18.960 8th. We're all the way through the holidays and the end of the year. There's so much going on. It's so

00:01:21.900 slammed. But I thought we do what we do today is to actually go through since it's Labor Day,

00:01:27.680 we want to honor the workers of America and we want to honor the work of America that we talk about

00:01:35.280 where we are as an economy, where we are as a nation and then where we are with the great work

00:01:41.540 of this nation, including its manufacturing and the in the jobs that are going to lead us out of this

00:01:47.180 morass. In fact, Dr. Preeta Navarro to join me. Dr. Navarro, I want to start off with Janet Yellen. 0.99

00:01:54.820 You know, we ended the week with Janet Yellen's victory tour, started the Detroit Economic Club.

00:01:59.960 I want your assessment. What I want to do first in this in this show is kind of set up as you do a just

00:02:05.760 kind of a with your Harvard PhD gimlet. I look at really the world economy, but start with her

00:02:12.400 victory tour. Then we go to America. Then we're talking about Europe. Then we're talking about

00:02:15.600 China. Kind of set the stage for what we think is a is a blueprint, not just a political blueprint,

00:02:23.800 but really an underlying economic blueprint. And you outline it. You've got a new book coming out,

00:02:27.760 which we'll talk a lot more about later, but really go through this in detail to give the war room

00:02:32.700 posse really the the information they need and to be loaded with not just the for debates around

00:02:39.380 the barbecue this afternoon and the cookout as they're closing up the summer house or the beach

00:02:44.080 house, but really to go forward and to understand their own personal life. One of the things I pride

00:02:48.320 ourselves with everything that you and Cortez and Jason Trenner and Dave Bratt, Dave Walsh, you know,

00:02:53.880 the whole economic team we have on this is to really let people think through in their own personal

00:02:59.000 life. Right. What what they're doing. So Navarro, I'll turn it over to you. Walk me through the

00:03:05.040 victory. Walk me through her because you are one of the highest guys. And I keep saying in a second

00:03:10.120 Trump term, I think Navarro is is is the minimum the head of the National Economic Council. I would

00:03:19.520 actually think you would be a secretary of treasury. I would love to be there. I'd love to get the TV

00:03:24.260 rights for your confirmation hearings. But that I could serialize that. What's the overrunner on me

00:03:32.740 getting 50 in the Senate? That's 50. What's the overrunner you getting like 10 Republicans and forget

00:03:40.300 the demo. By the way, you may get more Democrats. No. So no, I don't think we're betting on the 50.

00:03:46.420 All right. So. So. So go ahead. Walk me through. Walk me through Janet Yellen. Hang on. I had

00:03:52.020 Cortez pencil in for NEC director. But hold it. No, but hang on. Hang on. Ho, ho, ho. Yeah. No,

00:03:58.480 no. You but you particularly reason I want to start with Janet Yellen. You have particularly singled

00:04:02.740 her out for. Yes. And if for for for your grab the microphone finally away from you, I'm going to lay 1.00

00:04:10.000 this all. OK, fine. I'm saying you've picked on her from time. You've picked on her from the

00:04:15.380 beginning of the administration of this regime. And yet she's taken a victory tour. She's taken

00:04:20.680 a victory tour to the Detroit Economic Club, the most prestigious in your own war room. So

00:04:25.020 walk me through. OK, so first of all, just let me say how special Labor Day is to me. I mean,

00:04:33.480 at the White House, I was the deplorable blue collar guy in there fighting for American manufacturing

00:04:40.360 jobs with black, brown and blue collar Americans. I always love Labor Day because, you know, Gary

00:04:45.720 Cohn was like in the Hamptons with Mnuchin and Kudlow was in his Connecticut mansion and Wilbur Ross

00:04:52.760 was in Turkey sipping Turkish coffee. And and and the only people in there were me and the boss

00:04:58.260 who was really concerned about the economy. And Labor Day is MAGA Day. OK, if there's any day

00:05:07.180 besides Memorial Day in the calendar, it's Labor Day because MAGA is end endless wars.

00:05:14.140 That's Memorial Day. And it's prosperity for the middle middle America and blue collar America.

00:05:23.560 Now, let's let's talk about Janet Yellen. This this victory tour, which she's proposing to go on, 0.66

00:05:32.920 it's not just the Detroit Economic Club, Steve. She's she's actually conducting from as Treasury

00:05:39.160 secretary, a political tour for the November election. So she's hitting a number of different

00:05:44.840 spots. And this is the effect of complete turnout of Janet Yellen from respected academic to flat out

00:05:53.480 Detroit pimp. I mean, she's she's there. I'd be surprised if she won't have bling. She'd probably 1.00

00:05:58.280 have a gold necklace. And and she just I mean, this is bad. And the reason why I say this, Steve,

00:06:04.760 is you go back to January of this year in Davos and the speech she gave was the prelude to the victory

00:06:15.320 lap whereby she said things like no sign of any problems with eviction. The vaccine rapid deployment

00:06:24.680 was creating great conditions for growth. Inflation, according to professional forecasters,

00:06:33.560 was going to be muted and life was good. And of course, everything that she has said has proven to be

00:06:40.280 wrong. And this is eviction thing is is for me like the one of the bigger of many canaries in

00:06:47.720 the coal mine because we're facing over three million new evictions just over the next several

00:06:52.920 months. So she has got it wrong. And the other thing she did in Davos was co-opt the Ronald Reagan

00:07:00.520 notion of supply side economics. Trump economics is is is supply side economics in the sense of

00:07:09.400 Trump focuses on structural improvements in the economy, whether it's deregulation and lower tax

00:07:18.040 burden, whether it's strategic energy dominance, whether it's fair trade. And none of that,

00:07:25.080 none of that is in the wheelhouse of Janet Yellen. Instead, she is going going to have this victory

00:07:33.000 tour portraying what is a set of irresponsible hyper Keynesian stimulus bills. And she's going to try

00:07:41.960 to cloak them simultaneously as inflation fighters and productivity enhancers. And meanwhile, and you

00:07:50.840 and I are going to go around the world here over the course of this great Labor Day special, we see

00:07:56.440 all sorts of deteriorations in a way. And the thing that's totally missing in the Biden regime

00:08:04.600 on Labor Day and when Janet Yellen's like the kind is any reference to trade. I mean, remember,

00:08:10.760 as inflation goes up and interest rates go up here and the U.S. dollar gains relative to the euro and the

00:08:17.480 yuan and the yen, what we're going to do is suck in more and more imports from the rest of the world, 1.00

00:08:24.280 to press our own manufacturing and growth at the same time that crises in places like Europe with,

00:08:32.600 I mean, that place is going into the dark ages this winter. They're not going to be buying our stuff.

00:08:38.440 They're not going to be able to ship stuff to us at decent prices because of their energy and supply

00:08:43.960 chain issues. And so she's just, I mean, she's going to try like a good, loyal, political soldier at

00:08:52.520 Treasury to get the House reelected as Democrats, the Senate reelected as Democrats and to boost

00:09:01.240 Joe Biden's numbers. But hang on. But hang on. Hang on. Hang on. Hang on. And a pimp. Hang on.

00:09:07.640 Hang on. You're bearing the lead. I want to go back because it's very important. This is why I'm so

00:09:11.880 proud of you and Cortez and us calling it, you know, back in February of 2021, we were on point about

00:09:17.800 what we saw their initial economic. And we said, you guys are first ones. And in February 26,

00:09:23.160 you know, a year and a half ago, this is going to be stagflation. They're going to drive a recession

00:09:26.840 and unbelievable inflation. When people were laughing at us, what do you mean? Inflation is

00:09:31.000 nothing, et cetera. Go back to Davos. I want to deconstruct this speech first because it tells

00:09:37.080 you her job is looking over the other side of the hill. Her job is she's got an army of people. 1.00

00:09:42.920 They have tens of thousands of people at Treasury. Peter Navarro's got himself. We've

00:09:47.880 got a couple of people here. I want to go back to that Davos speech of what she forecasted out.

00:09:52.200 And remember, the Financial Times, the economists, they were lauding this. This was Biden had had a

00:09:56.760 new formula. You know, the American Recovery Act had passed. Biden had done it all. And, you know,

00:10:02.280 his numbers, they were starting to come down because of Afghanistan and other things. And people,

00:10:09.560 we started talking about the inflation were starting to hit, but they were still lauding

00:10:12.680 him. And she went down and not doubled down. She tripled down. But I want to go through

00:10:16.760 specifically what she laid out and how dead wrong she was and how the policies have exacerbated 0.93

00:10:23.240 the crisis we're in today, sir. Well, look, the central core of her miss, her failure to look over

00:10:31.080 the horizon, was her miss on inflation. And she doesn't seem to understand that the particular

00:10:40.840 kind of inflation that has been brewing in the economy that you and me and Cortez and others

00:10:46.760 have been talking about on the war room is also the kind that breeds recession. There's no coincidence,

00:10:52.760 Steve. And for the podcast, you can't see it. But behind me is the 1970s on my screen here,

00:11:00.680 the stagflation years where you had simultaneous slow growth and inflation. She missed that.

00:11:06.440 She said she missed that. Jay Powell said he missed that. How the hell do you miss that

00:11:14.440 when the deplorables on the war room are telling you flat out it's coming? When I wrote a memo in May

00:11:22.200 of 2020 when I was still in the White House that said stagflation is coming because of everything

00:11:28.920 I'm saying unless we do X, Y, and Z. And guess what? Instead of doing X, Y, and Z when Biden regime

00:11:35.000 comes along, they did A, B, and C, which got us right to the destination faster, the stagflation

00:11:41.080 destination faster. No credibility. One last time, I just wanted to, before we start talking about

00:11:49.400 the different economies, her victory tour is offensive for the reason that not just about

00:11:56.200 the politics, you know, obviously the treasury secretary can, you know, someone more political

00:12:00.200 than others, but which is offensive in its own right. But, but it, it is the lies and misrepresentations.

00:12:07.880 I mean, they take this, let's be honest, this, this, this last thing they passed, the inflation,

00:12:14.680 it's Orwellian in its title, but it's, it's literally a payoff. It's a payoff that they think

00:12:21.080 they're going to lose the Senate. So it's a, Joe Manchin and these guys are literally paying off

00:12:26.200 their corporate sponsors, uh, crony capitalism, their donors and bailing out. Let's say it's a bailout

00:12:33.240 of the underwater, uh, you know, a sustainable energy business, which is all underwater, not even

00:12:38.760 close to being profitable, bleeding cash. This is just a payoff. And she's going around talking about

00:12:45.000 that's the victory lap. Look at what we've, and, and, and really it's just, uh, it's what fascism is.

00:12:50.440 You have total control of the state and you just pay off your sponsors, Peter.

00:12:53.480 Well, the problem we're facing here is that they have the ultimate megaphone in a corporate media,

00:13:02.440 which, um, is vested in making sure that the house hangs on with Democrat leadership. So you're

00:13:10.520 going to have the, you know, the obligatory CNN, MSNBC spinning, uh, whatever positive news they can

00:13:17.080 find, but you're also seeing CNBC, even Fox business. They're not drilling down into, into the

00:13:25.480 real whirlwind that's sweeping around us. I mean, as we speak, the stock market, um, is, is, is,

00:13:32.920 is established a bearish pattern at the same time. The bond market has Steve, you and I have talked

00:13:37.880 about this and it's a subtle, but important point for, for the, for, for the posse here is that when you

00:13:44.520 you have stock prices going down, that's recession and you have bond prices going down, that's

00:13:50.120 inflation. And, and the whole wall street paradigm is based on the fact that never happens, that,

00:13:57.400 that if you got in recession, inflation's supposed to be going down. So the bond is as the bonds are

00:14:03.560 going up, but, but we're seeing the stagflation forecast. So everything the markets are telling us,

00:14:10.280 everything our eyes are telling us, as we scan around the world, we're going to do that

00:14:13.960 one of the next segments. We'll go around the world and I'll tell you exactly why.

00:14:17.560 Okay. Exactly. We're going to take a, we're going to take a short commercial break. Uh,

00:14:21.160 Peter's got the new blueprint out. Uh, it's going to be available in a couple of weeks in pre-order.

00:14:25.960 We're going to talk a lot about that, the blueprint, how we get back on track. We're

00:14:28.920 going to do a tour to horizon from America to Europe, to China, to all of it. Also,

00:14:34.040 Peter's going to give us some more thoughts on why labor day is MAGA day, why labor day is the high

00:14:38.920 holiday for, uh, for MAGA short commercial break. We're going to be back in our labor day special

00:14:45.400 in a moment.

00:14:46.520 You know what's never good when your nation's supposed authority on economic policy completely misses the

00:15:07.400 flashing red lights of impending inflation. Now, Treasury Secretary Janet Yellen has finally admitted,

00:15:13.800 quote, there's been an unanticipated and large shocks to the economy that have boosted energy

00:15:18.840 and food prices and supply bottlenecks that affected our economy badly that I didn't at the time

00:15:27.080 fully understand, end quote. You know who understands the real threat of inflation?

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00:15:38.200 a highly turbulent economy by diversifying their 401k or IRA into gold, physical gold. It's not too

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00:16:24.520 Taking Back Trump's America. That's the incendiary new book from former Trump trade czar

00:16:29.800 Peter Navarro, available on Amazon today. Stephen K. Bannon calls Taking Back Trump's America

00:16:35.800 a brass knuckled insider's account of the merciless 2020 fall and miraculous 2024 rise of the White

00:16:42.440 House of Trump. Taking Back Trump's America is the blueprint for a new Trump White House that

00:16:48.120 will truly make America great once again. Order Taking Back Trump's America today on Amazon.

00:16:56.600 It is definitely brass knuckles. Welcome back. We're on the Labor Day special of

00:17:01.400 and we want to thank everybody at Real America's Voice to make it to make this happen. We love doing

00:17:05.160 these holiday specials. We're doing a tour to horizon the world economy where we stand as kind

00:17:10.040 of a jumping off point for the sprint to November 8th and beyond after we get in office about executing.

00:17:15.960 Peter's book is not just what the problems are, it's what the solutions have to be,

00:17:21.160 which makes it very, very powerful. Also, talking about solution, I want to make sure everybody goes

00:17:24.680 to birchgold.com forward slash Bannon. I've got my second part. You know, first part did the politics

00:17:31.400 of money. This is the end of the dollar empire. This is part two. This is about the falling of the

00:17:36.280 U.S. dollar's reserve currency. Financial Times has had a piece about the reserve currency the

00:17:42.280 other day. We're going to put that back up on Getter. Everybody's got to read this. We're going

00:17:47.160 to do, I think, five, six, seven, eight of these to get people up at the end of the dollar empire.

00:17:51.800 Part two, it's all free. I had a huge turnout for the first. If you haven't gotten the first,

00:17:56.280 go to birchgold.com forward slash Bannon. You get the first one, the politics of money,

00:18:02.680 and then you get, then you can get part two. Part two's out now officially over the weekend and

00:18:08.200 today. I want to go back to Dr. Navarro. Peter, give me a couple of minutes because I don't think

00:18:14.600 a lot of the, a particularly new audience that have come on in the last year or so,

00:18:20.120 that weren't with the show in 19 during the impeachment and weren't there in 2020 during the,

00:18:24.520 the, uh, during the pandemic, uh, appreciate really the kind of blue collar nature of really

00:18:31.480 Trump's outlook on life. Although he comes from Queens and you know, he was born into a real estate

00:18:36.280 family, but dead, very hardworking, tremendous work ethic. Obviously the president is a seven day

00:18:41.560 a week. I doesn't drink, doesn't really party, plays a little golf, but even golf is, is he's

00:18:46.280 networking and working the entire time, but he's a seven day a week guy. You, I'm not sure you took a

00:18:51.480 day off in your four years in the white house. You were there every day, but why is, and we've

00:18:57.240 done these specials now for a couple of years. Why is labor day, MAGA day, the high holy day of, uh,

00:19:03.720 or the high holiday of, of, of MAGA? Well, Steve, uh, MAGA as distinguished from rhino republicanism,

00:19:15.960 um, focuses on what I call the iron MAGA triangle. And it's the, the end of,

00:19:21.320 endless wars. Certainly. Um, it's, uh, the, uh, fair trade, which is kind of, um, at the top of the

00:19:31.080 list and it's the secure borders. Now, if you look at that iron triangle, um, the two of those legs,

00:19:40.280 secure borders and, and, and fair trade basically speak directly to the deplorables. The black, 1.00

00:19:48.360 brown, blue collar Americans working in manufacturing and, and trying to earn a living in, in difficult

00:19:59.480 globalized times and, and labor day, traditionally, you know, the great parades, it, it belonged to the

00:20:06.840 deplorables. And as I said, in our last segment, it's always been a special day to me, particularly

00:20:12.600 when I was in the white house. It was the, the one day every year where I was assured I could be,

00:20:20.040 um, in the white house, uh, not surrounded by, you know, Mnuchin and Gary Cohn off in the Hamptons

00:20:27.640 or Kudlow in Connecticut or, or Kushner back wherever he would go. And the boss always understood Labor

00:20:35.080 Day. He, he got it. He knew that Labor Day was the sweet spot of the sweetest of spots in the

00:20:42.520 battleground states, particularly, um, across the, uh, what has become, uh, unfortunately,

00:20:49.240 in many cases, the Rust Belt, the place where all of the factories got bundled up and shipped off to

00:20:56.360 China. You know, the, the four years I spent in the white house, every day was Labor Day. We were

00:21:01.960 trying to get those back. So it's a, it's a very special day in this country. And we as a country

00:21:10.360 need to remember its importance because without labor earning decent, real wages, we don't have

00:21:20.360 a country. And that's where we're in now, Steve. That's the problem. The deplorable, I mean, we've got

00:21:25.880 a, just, just, uh, an army of illegal aliens streaming across our border that bills come 1.00

00:21:35.000 and do. And the people who are at the front lines of that is that driving down. Is that driving down?

00:21:40.200 Is that driving down wages? Is that driving down wages? Is that driving down wages? Is that driving

00:21:44.200 down wages in the service industry among American citizens, African Americans and Hispanic Americans?

00:21:50.280 Is that driving down wages in the service business? And, and just wait, because we were talking about

00:21:55.960 the lies of Janet Yellen. She gets on, she goes to Davos, right? And among one of the many lies she tells

00:22:04.840 is that immigration's down. She's talking about how immigration levels are down. It's like, okay,

00:22:13.000 maybe legal immigration, but are you kidding me? And so this is, these are all destabilizing forces. 0.73

00:22:21.160 So for me, I think, I think it's a really good time to, um, think about what MAGA means. It's,

00:22:30.520 we are not the fascists that Joe Biden would have us portray. It's very, very simple. It's like

00:22:37.560 people, uh, you, who, who shower after they go to work rather than before they go to work. That's

00:22:45.240 who we are. We are the hardworking people that provide things around this country. And we've

00:22:52.760 been shunned aside. And I'm telling you, Steve, you know, this inflation, again, the picture behind

00:22:57.880 me, that's the seventies. It's just, it's just going to eat away at the fabric of our economy and society.

00:23:04.280 Let me, let me, uh, before we get to the, to the different economies I want to get into,

00:23:08.760 but I've got to bring up two political things. I want to ask you, Ro Khanna, who's kind of the head

00:23:12.680 of the progressive wing of the, uh, from Silicon Valley, we're up there in Northern California,

00:23:17.400 a congressman who has presidential ambitions. He's been in the Midwest and Politico has been all over

00:23:23.640 this, uh, making this round. He says we're Trump voters and kind of, uh, moderates or independents

00:23:29.880 and Democrats are listening to this guy and his whole tour is called economic patriotism.

00:23:36.680 What is the difference from what Ro Khanna is talking about with economic patriot that Democrats

00:23:43.400 sitting there going, Hey, if we ever want to get these Trump voters back, we got to be preaching

00:23:47.320 this and acting on it. What is the difference between economic patriotism and Peter Navarro's

00:23:52.040 economic nationalism, sir? Uh, rhetoric versus reality. And you mentioned where Ro Khanna comes

00:23:59.400 from Silicon Valley. I mean, besides wall street, Silicon Valley is the primary catalyst for the

00:24:07.880 offshoring, not just Steve, not just of our jobs and our labor, but also of our technology. I mean,

00:24:14.920 it's Silicon Valley that arms the Chinese communists with the technology that they then employ their 0.99

00:24:23.080 people with to basically send subsidized products here in America to put people out of work. To

00:24:29.400 Ro Khanna, if I, if he was sitting right in front of me, I'd say, what took you guys so long in the

00:24:33.720 Democratic Party? At least adopt the rhetoric. I mean, you got Janet Yellen preaching supply side economics 0.64

00:24:40.440 to support their, their Keynesian policies on steroids causing inflation. You got things like

00:24:46.600 the inflation reduction act being jammed down the throats of people by CNN when it's actually going

00:24:52.600 to spur inflation. You got Tim Ryan in Ohio, um, running against J.D. Vance saying he's like a blue

00:25:02.520 collar supporter going to get a manufacturing back to Ohio. Look, Tim Ryan was in my death by China film.

00:25:09.480 He talks the talk, but that dude has not walked the talk. He has been part of the Joe Biden, Nancy

00:25:19.400 Pelosi stagflation machine. And so, you know, we get, we gotta, we gotta, you know, we're fighting

00:25:28.600 back. I mean, buy American, hire American. Those were the two simple rules of Donald John Trump. That was

00:25:35.000 what I did at the White House. But, but, but hang on, the corporate, I want you to walk through

00:25:43.400 right now. Cause Biden's saying he signed this by American that, you know, it goes with this grand

00:25:46.600 environment. Why, when you were, when you were in the Trump White House, what, I want people to

00:25:52.040 understand how hard it is to get by American to even get it signed, but more importantly, get it

00:25:58.200 implemented. Cause it's not far from perfect now. And by why people talk, and I'm telling you, if you

00:26:04.600 want to get votes, you walk around and say, buy American, hire American. And for most people,

00:26:09.880 including Roquehanna, it's totally empty rhetoric. You, sir, were the tip of the spear and the driving

00:26:16.200 force and buy American. And I can tell you from my time in the White House and then afterwards,

00:26:20.280 knowing you so well, there's probably nothing you worked on that people say, no, no, get out of

00:26:25.240 here. Get out of here. What, what is it structurally in our country that that's one of the big forces

00:26:30.920 that pushed back even in a Trump administration on buy American, sir?

00:26:35.480 If you look at the, the Democrats on the Hill, they're the party of Davos. They're the party,

00:26:43.960 they get a lot of money from, from the corporations of the world that love to offshore our jobs. So

00:26:51.000 that's just pure profit politics. And then you got the rhinos, like the Coke network folks, 0.98

00:26:58.040 they're in the same camp. And then you've got the purest libertarians.

00:27:05.400 guys like, like Mick Mulvaney in the freedom caucus. Um, I had to fight Mulvaney. There's,

00:27:12.280 there's great stuff in the book about that. I had to fight Mulvaney from day one on buy American,

00:27:17.640 hire American. It's like, Mick, that's what the president wants. Why are you supporting? He goes,

00:27:22.920 well, it's going to increase the costs. It's like, no kidding. We're trying to fight the,

00:27:29.320 the unfairness of China dropping subsidized products down into South Carolina. Wouldn't you

00:27:37.080 rather have factories there? So it's like, whether it was the Mnuchin Kudlow Cone wing of the West

00:27:45.320 wing fighting me because they, they, they, they were rhino types. Um, I, and here's the thing, 1.00

00:27:51.640 Steve constantly. I tell you what, hold that, hold that, hold that, hold that for, we're gonna take a

00:27:56.120 break. We're here at Peter Navarro walking through the world economy, the American economy

00:28:00.680 on labor day and what it is to buy American and hire American. It sounds great. Ain't so easy to do,

00:28:07.240 but most importantly, it must be done. All next in the world.

00:28:11.640 They put Peter Navarro in leg irons for simply doing his constitutional duty. Now they want to

00:28:30.840 put Peter in prison for standing up for Donald Trump. Please go to Amazon right now and order

00:28:36.520 taking back Trump's America to help fund Peter's legal defense, taking back Trump's America provides

00:28:42.440 a critical MAGA blueprint to put Trump back in the white house in 2024 by taking back Trump's

00:28:48.680 America on Amazon today. If they can put Peter Navarro in prison, they can come for all of us.

00:28:56.440 Okay. Welcome back to the labor day special, by the way, who that was a Gary Cohn and Mnuchin

00:29:00.680 that sicked the FBI on you. They're the ones that wanted you in leg irons, right? The most

00:29:05.000 I only say that partially in jest. I think it's safe to say it could be Nancy Pelosi,

00:29:11.720 because the latest thing that the Democrat House has done is filed an amicus brief

00:29:20.680 in my case to make sure I go into prison. So that's another story for another day.

00:29:25.720 That's a story for another day. Hold it. But I want to get back to Cohen and Kudlow,

00:29:30.520 Mnuchin and Mick Mulvaney's the Republicans, the establishment Republicans. They say, look,

00:29:35.560 Bannon and Navarro, they got these good ideas and but they play to Trump's worst elements.

00:29:40.680 And here's the problem is that because they're not particularly sophisticated. Yeah,

00:29:44.040 they try to stand up for working class people. But the system is not if we did the buy American

00:29:49.080 because we're a globalist economy, which are completely interlocked throughout the world.

00:29:53.560 And what we should always be doing to make sure that the junk that's sold in Walmart, which doesn't

00:29:58.200 include my pillows, because that's made in the United States. And because he stands up,

00:30:03.960 Mike Lindell stands for his your political beliefs. They've banned him from Walmart,

00:30:08.360 where they're taking the Chinese and all the pillows made from around the world, but not the

00:30:11.880 American pillows. But you can get from 1988 by going to my pillow.com promo code. How's that for a

00:30:18.200 segue? Do that? No. But but Navarro here, they said, look, Peter Navarro is Peter Navarro. He's a

00:30:24.360 fighter. He clearly has Trump's ear. But here's the problem. Even though he went to Harvard, he's a

00:30:29.880 little too supportive of working class people because he's naturally, you know, he's a he's a he's 0.99

00:30:36.120 always a fighter for the little guy. He's a Bantam rooster, but he's a fighter for the little guy.

00:30:40.760 And here's the problem in the interconnected economy that we have. It's just it's very unsophisticated

00:30:47.400 that you always want to go to the lowest source of production. And really, the United States is

00:30:53.560 just a a marketing engine that sells to people that essentially work in service account. Gary

00:30:58.360 Cohen would say over and over again, we're a service economy. We're a service economy.

00:31:01.960 So, Peter, when you talk, when you go internally, forget the Democrats, because the problem is the

00:31:07.240 establishment Republicans. When you would sit there and go, no, no, no, no, we have to have by American

00:31:11.560 and we have to have higher American. Nothing would bring out their true colors in that,

00:31:16.520 because whether it's Cohen or Mnuchin or Mick Mulvaney or the Chamber of Commerce,

00:31:22.120 which if you mentioned Peter Navarro's name at the Chamber of Commerce, they literally spit right

00:31:26.120 on the floor. What about their arguments is that Navarro's heart's in the right place,

00:31:31.720 but his head's in the clouds. And this is horribly inefficient. It's a squandering of resources.

00:31:39.080 It's inflationary. It's every bad thing you want is going to it's going to it's going to fail because

00:31:45.800 it doesn't support creative destruction. Dr. Peter Navarro. Well, I think, first of all,

00:31:51.560 you have to distinguish between rhetoric to advance corporate interests versus true believers. I mean,

00:32:00.200 I think a guy like Mulvaney truly believed that buy American, hire American was a bad policy that

00:32:08.680 would be inflationary. Whereas Cohen, Goldman Sachs, he was simply carrying the water

00:32:14.600 for the Wall Street corporatists who want to send jobs abroad. But there's two things to say.

00:32:20.920 First of all, one, for more than 20 years, I've been arguing that we've consistently underestimated the

00:32:28.840 geopolitical risk of offshore supply chains. And that has come home to roost now in spades, right?

00:32:37.800 I have been proven right on that in spades right now. The idea that we've got our supply chains

00:32:45.080 spread all over the globe has has now led to the fact of stagflation and contributed to that. So

00:32:52.920 my point here, first of all, is they don't they don't properly assign risk to the calculation,

00:33:00.440 right? They just go for the sweatshops and the pollution havens. The second thing I always say,

00:33:07.000 it's a snapshot view of the world versus a movie view of the world. A static versus dynamic view.

00:33:13.560 In a static perspective, yes, we have prices go up. Now, I would say here, even in a static view,

00:33:22.920 about 40%, 40 cents on every dollar come back to the tax base. So that's good. So whatever a dollar

00:33:30.520 you spend on Buy America, you get a bunch of it back. But here's the thing, Steve. Over time,

00:33:36.840 it's the dynamic view. It's the movie view where you get more and more manufacturing here.

00:33:43.400 Now, a central lesson I learned in my China research is when the manufacturing goes offshore,

00:33:50.040 the service jobs have to follow it. The supply chain follows it. And so when you reestablish

00:33:56.680 manufacturing through Buy American, Hire American policies, you're not only creating a job at the

00:34:03.320 manufacturing level, you're bringing the supply chain back home, which is both safer and cheaper.

00:34:09.480 So the movie version of this, and this is pure Trump deplorable, Steve, the movie version is we're

00:34:15.400 all better off in this country under Buy American, particularly the black, brown and blue collar 1.00

00:34:21.240 Americans that don't have the money to go to college, so they don't have their loans forgiven. 0.89

00:34:27.400 High school educated in manufacturing, prosperous, safe.

00:34:34.040 Let me go. I want to go to the supply chain situation. Maybe this will get us a segue into

00:34:37.800 the American economy. But in September of 2022, sir, given all the efforts that you had during a pandemic,

00:34:46.360 the medical supply chain, the drug supply chain, because now know because you've exposed it,

00:34:52.520 and we had people on here in those early months of February, March and April 2020 exposing it.

00:34:58.920 Has any of the really supply chain, even with the efforts of Trump and Biden, the disaster,

00:35:04.200 but because they always argue, hey, the inflation is caused by supply chain disruptions.

00:35:08.600 Has any of the supply chain really started to come back, particularly on the manufacturing side,

00:35:12.840 or at best because of the now obviously geopolitical issues with China that we,

00:35:18.680 I think you and I in the war room have been at the forefront, and Miles Guo is saying how

00:35:24.520 radical the CCP is and how dangerous they are to be in business, that you see that dispersing

00:35:29.800 maybe to other parts of Southeast Asia, maybe to Vietnam, maybe to other Malaysia,

00:35:34.840 maybe even parts of Taiwan. Have we made any progress in your mind, given we had this pandemic

00:35:41.720 that exposed it to the world of essentially bringing America's supply chains home?

00:35:46.760 Well, Steve, let me say that in the White House, over the course of the four years,

00:35:52.600 we were able to sign a large number of Buy American, Hire American orders. And we saw through the

00:35:59.960 statistics, a steady improvement in the amount of government dollars on that. So there was progress.

00:36:08.200 Biden has undone every one of that. And in some sense, I want to blow your mind here

00:36:14.440 with a little story that's out of the Taking Back Trump's America book, because the one of the things

00:36:19.560 that got away from me, and it wasn't just Mnuchin and Kudlow and Mulvaney, there was one thing I got in

00:36:28.120 conflict with with Lighthizer as a trade rep. It's like the boss and I, POTUS and I wanted to rescind

00:36:35.640 this agreement we have with the WTO, the World Trade Organization. Steve, I'm going to blow your

00:36:43.960 mind here. Effectively, there's more than 30 countries that we treat as America for the purposes

00:36:52.440 of Buy American procurement from the U.S. government. It's crazy. Hold it, stop. We would have been

00:36:58.360 able to undo that with one signature. Hold it, stop. Nobody knows that. Walk me through that again.

00:37:04.520 There are 30 countries that are defined as America. More than 30, yeah. No, stop. Most of Europe.

00:37:11.320 Okay, here's the way it works. Within the World Trade Organization, there's a treaty.

00:37:16.280 Is that true? There's a treaty. Is that true? Hold it. It is true. We include other.

00:37:22.280 Hang on, Steve. Let me just give you this, because this was the General Agreement on

00:37:27.560 Procurement in the WTO. It's the GPA. It says, for the purposes of Buy American procurement bidding,

00:37:40.840 we treat those countries like they're America. Germany, France, Spain, Italy. And my head exploded

00:37:51.480 when I found that out. And I spent like the better part of four years. You know, the boss always wanted,

00:37:57.080 let's get the hell out of the WTO. I was like, hey, that may or may not be a good idea, but how about

00:38:03.720 this is a first step? All Lighthizer had to do was sign one little letter and said, hey,

00:38:10.360 we're out of this. And they couldn't retaliate against us. There was nothing they could do.

00:38:16.920 We were just out. That would happen. But I mean, think about that, Steve. That's the kind of

00:38:22.680 institutional problems we're up against. And I'll tell you what, there's these agreements that the

00:38:28.040 Pentagon has country to country that wave Buy American. And it's like, I look at this and it's

00:38:37.160 nuts. Like, are you kidding me? But that's the kind of fights we had. This is this institutional

00:38:44.360 attitude, the party of Davos that decades ago, we decided we were going to make the rest of the

00:38:51.400 world prosperous as a way of making us prosperous. This is outrageous. But you buried the you said

00:38:57.080 something here is explosive. Joe Biden goes to Scranton, you know, that knee jerk reaction to

00:39:01.720 say he's Joe from Scranton, the people of Scranton know it's a joke. But he's made a huge deal of

00:39:06.440 signing all these by Americans. I want to be very specific here, because you had I don't know how

00:39:11.320 many executive orders that President Trump put put in a place on by by American, higher American.

00:39:17.240 You're telling me he undid all all of what you did. He undid. But did he do things better? Because

00:39:23.560 they they they they they pride themselves on saying that he's the by American guy. Now that Trump really

00:39:28.120 didn't do anything. He did not do all of them. But but what you need my mission in the White House,

00:39:35.800 besides getting executive orders signed, it was kind of like the Bill Murray caddyshack thing with the

00:39:42.920 gopher holes. Right. It's like every year in the appropriations bills, you had congressmen and

00:39:48.840 senators putting little waivers in as part of broader packages, trying to waive by American.

00:39:55.880 The worst guy until the deceased was John McCain. OK, but it was like a constant fight. And and my

00:40:05.000 deputy Alex Gray and I were like, OK, we got to like respond to that one. I mean, I'm telling you,

00:40:10.120 Steve, it's a it's the war in the Jones Act, which is the oldest expression of by American,

00:40:16.760 which is basically says that that if you got ships going from point to point within the U.S.,

00:40:24.360 they have to be built, crewed and owned by Americans. It's like that's the lifeline to a

00:40:30.840 shipbuilding industry that's almost dead anyway. And that they they're constantly going after that.

00:40:37.240 So my point is that unless you have Trump deplorables inside the deep administrative

00:40:46.520 state beast in the West Wing and everywhere in between in that bureaucracy, you're going to get

00:40:51.400 people who are basically anti-labor. And that's why this Labor Day is important, Steve. Labor Day

00:40:59.000 and Memorial Day are the two most important days to the deplorables because the Iron Triangle 0.50

00:41:04.200 maggots, the end endless war, secure borders and fair trade, which means fair treatment

00:41:09.880 of American workers and manufacturers. Peter, hang on for one second.

00:41:16.520 He's got a new book out. You've got to get this is kind of the blueprint for going forwards, how to win

00:41:21.000 in November. But as importantly, because we know we're going to win if we keep our shoulder to the

00:41:27.160 wheel and eye on it. But it's about what we do afterwards. And this is why this book so important.

00:41:31.960 People talk all the time. Well, everybody identifies the problem. Nobody identifies the solution.

00:41:35.640 Dr. Peter Navarro has drilled down to do that. We're going to take a short commercial break.

00:41:39.960 We're in turn with Dr. Navarro is going to give us his assessment of the world's economy,

00:41:43.800 the American economy and what actually needs to happen to fix it. It's Labor Day. It's our special.

00:41:52.040 It's MAGA's holiday. We're gonna take a short break. We'll be back on Real America's Voice in the War Room next.

00:42:01.960 We'll fight to the end. Just watch and see. It's all started. Everything's begun. And you are over.

00:42:09.480 We'll fight to the end. We'll fight to the end. We'll fight till they're all gone. We rejoice when there's no more. Let's take down the CCP.

00:42:21.480 Let's take down the CCP.

00:42:25.480 Getter has arrived. The new social media taking on big tech, protecting free speech, and canceling cancel culture.

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00:42:54.480 Okay, welcome back. I want everybody also to understand, go to birchgold.com forward slash Bannon.

00:43:02.480 I've done this series, and one of the things I pride this show in is being able to take people with no economics background,

00:43:07.480 middle class and working class people, and you'd be shocked by the people who've come to me that are highly educated.

00:43:13.480 I said, man, I didn't know any of this. I didn't really know how the economy worked.

00:43:17.480 I didn't know how it was inextricably linked to Europe. I didn't understand our reliance on the Chinese Communist Party.

00:43:22.480 We pride ourselves. This show is as sophisticated a business show as you can get.

00:43:27.480 And I get this from hedge fund guys all the time. But we make this show for the MAGA and the deplorables.

00:43:32.480 And what I'm so proud of is how you guys have responded to it.

00:43:36.480 And so and that's why we put these books out, whether it's, you know, Lords of Easy Money or the Trillion Dollar Triage or Dr. Navarro's books, all that,

00:43:44.480 because we want to get as much information to you as possible.

00:43:46.480 You'll see a change in your life. You'll see a change of how you look at the world when you understand it's about money and power. Right.

00:43:53.480 We're obviously finding a great spiritual war, but in the temporal sphere, it's money and power.

00:43:58.480 I want everybody to go to birchgold.com forward slash band and you get the second installment of the end of the dollar empire.

00:44:06.480 This is on the prime reserve currency. It's a prime. It's a primer on that.

00:44:10.480 So you understand we talk prime reserve currency. What an important concept that is.

00:44:13.480 And I want to thank Dr. Peter Navarro has been with us since we started the show back in 2019.

00:44:19.480 He's just done such a great job of explaining everything in really layman's nomenclature with using all the sophistication of his Harvard Ph.D.

00:44:28.480 I think one of the reasons I love your book and I gave such a shout out to it that you heard in the spot is particularly in this book.

00:44:35.480 You talk about not just the issues you break down, but you also talk about the actions.

00:44:38.480 Why do you think you because people don't know you. You're like a brother to me.

00:44:43.480 But when Navarro is working a project, you can't get him. I mean, when he's doing this book, you just can't.

00:44:46.480 He's just he's he's so maniacally focused on the on the problem of hands like he was in the White House.

00:44:52.480 That's why Trump loves him so much and trust him so much.

00:44:55.480 What is it about this book in this time? What?

00:44:57.480 Because everybody comes to me and says, Steve, I'm overwhelmed with the problems.

00:45:00.480 I need somebody to give me a clear common sense solution.

00:45:04.480 Dr. Peter Navarro.

00:45:07.480 See, thanks so much for this.

00:45:09.480 Look, the Taking Back Trump's America book, what I try to always do is see this chessboard to look over the horizon in Admiral Bannon's terms.

00:45:21.480 And I think one of the first contributions of the Taking Back Trump's America book is to have, I think, the most complete explanation of what MAGA is, who the deplorables are, what we stand for.

00:45:35.480 And I think just folks reading that portion of the book will be able to much better defend ourselves against the slings and arrows of people who want to call us domestic terrorists or fascists or any of that.

00:45:51.480 And as we talked about earlier, Steve, the Iron MAGA triangle of populist economic nationalism is the end to endless wars, the secure borders.

00:46:02.480 And most of all, and I was the tip of the spear on this is fair trade with the rest of the world.

00:46:08.480 So that that that's I think that in and of itself is an important contribution.

00:46:13.480 The second thing is one of the one of the important principles of the book, it's the canon of Bannon.

00:46:19.480 Right. It's action, action, action.

00:46:21.480 And I lay out in the book the critical, absolutely critical importance, not just getting the White House back in 2024, but first and foremost, getting the House of Representatives back, not for Republicans, but for Trump Republicans.

00:46:38.480 I explain how in 2018 we lost the House because of mistakes made with inside the White House facilitated by Mitch McConnell, where we focused too much on the Senate, not off the House that unleashed Pelosi, Raskin, Schiff and this unconstitution and illegal use of Congress's investigatory powers.

00:47:04.480 And so the taking back Trump's America book really is an exclamation point as to why and how we have to take back the House.

00:47:13.480 And then moving forward in terms of once power is put back in the hands of the people, the deplorables through Trump Republicans, we have to get back to the kind of structural economic solutions

00:47:30.480 that are going to deal with what's going to be a stagflation crisis that's going to make what we experienced in the 70s look like a walk in the park.

00:47:40.480 And I was there in the 70s, a prime age when that was happening, and it was not a good time for anybody and it went on for more than 10 years.

00:47:51.480 And so the Taking Back Trump's America book, I could have called it Taking Back Trump's economy, but it's more than that.

00:47:59.480 But that's basically why I think this book is timely and important and can help carry us into November as we're fighting the poll suppression and all of this from the Democrat establishment

00:48:14.480 who are trying to do everything they can to beg, borrow and steal November and hang on to power.

00:48:20.480 I cannot imagine a world, Steve, right now where the Democrats hang on to the Congress in 2022 and the White House in 2024.

00:48:31.480 We will not have a country as we know it for the deplorables we all love.

00:48:37.480 And so that's what the Taking Back Trump's America book is about.

00:48:41.480 I hope people will give it a chance.

00:48:43.480 Go and preorder it on Amazon right now if you can.

00:48:46.480 Let's drive it up to number one.

00:48:48.480 My last book in Trump time, which was the first of my White House memoirs, in large part because of the war room, was the best selling book of the Trump memoirs.

00:48:59.480 This one's explosive. As Steve Bannon says, it's brass knuckles. I hold nothing back.

00:49:05.480 And I explain why in the next administration we have to do a whole lot better in terms of the people we surround President Trump with.

00:49:14.480 So he gets to do what he needs to do.

00:49:17.480 We're going to go to a 90 second break to start second hour and we're going to get into some hardcore economics.

00:49:21.480 And everybody needs to hear this about what's going on in the world, what's going on in your life.

00:49:25.480 But it's also about us. We must win in November.

00:49:29.480 What what what Peter said is absolutely 100 percent correct.

00:49:32.480 We must absolutely win in November.

00:49:35.480 And this is the kickoff of this.

00:49:37.480 Remember, Labor Day is the traditional end of the year, end of the holidays, the summer and the start of that sprint towards the Christmas holidays.

00:49:45.480 But in between there, we have November 8th.

00:49:47.480 We have to win.

00:49:48.480 And then after we win and I mean when I mean 40, 50, 60 seats in the House, we then have to know what we're doing with governing.

00:49:56.480 One thing we're getting to the next is this thing called the appropriations process, the appropriations bill.

00:50:01.480 That is one of the greatest powers the founders gave the House representative, really the House of Commons for the American people.

00:50:08.480 But the games that are played, the tricks that are pulled, you're going to hear all next where the War Room or Labor Day special back in 90 seconds.

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00:51:43.480 They put Peter Navarro in leg irons for simply doing his constitutional duty.

00:51:48.480 Now they want to put Peter in prison for standing up for Donald Trump.

00:51:51.480 Please go to Amazon right now and order Taking Back Trump's America to help fund Peter's legal defense.

00:51:58.480 Taking Back Trump's America provides a critical MAGA blueprint to put Trump back in the White House in 2024.

00:52:05.480 Buy Taking Back Trump's America on Amazon today.

00:52:08.480 If they can put Peter Navarro in prison, they can come for all of us.

00:52:13.480 We'll be right back.

00:52:14.480 Thank you.

00:52:15.480 We'll be right back.

00:52:16.480 We'll be right back.

00:52:17.480 We'll be right back.

00:52:18.480 Thank you.

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Bannon's War Room - September 05, 2022

Episode 2130： Labor Day： MAGA's Holiday

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