Bannon's War Room - Episode 2240： Liz Truss Steps Down As The Sharks Already Start To Circle; Thatcherism and Reaganism Has Died Today

00:00:00.000 This is him trying to explain a policy that at its core is a paradox, both addressing financial stability, allowing some sort of easing, unwinding of positions that are untenable in the current regime, while also fighting inflation using very similar types of tools in terms of raising rates.

00:00:16.920 It is mind spinning.

00:00:18.220 I can see why they're very, very sensitive about the concept of fiscal dominance right now.

00:00:23.060 I can see why they are almost immediately.

00:00:24.700 The questions were asked at the Bank of England, will they accommodate what this government is going to do?

00:00:28.920 And when they first came up with the gilt market operation, they were accused of just that, pandering, accommodating what fiscal policymakers had decided to do.

00:00:37.840 So I think it's really, really difficult for them to do now.

00:00:40.420 And I think that's why we're seeing the kind of language, the approach that we've seen from Governor Bailey.

00:00:44.460 That's my guess.

00:00:45.220 I can't get inside his head.

00:00:46.820 The sense I get from him and the way he spoke yesterday just sounded like a man who was very, very sensitive to the idea that they might be contributing to so-called fiscal dominance.

00:00:55.120 There is an argument that for decades, central banks helped offset a lack of action from fiscal policymakers, a lack of action from Washington, D.C.

00:01:03.360 For decades.

00:01:03.880 Or from the parliament.

00:01:04.920 And this is a question now of can the central banks pull back and stop giving the fiscal policymakers a pass and risk financial instability and risk perhaps disrupting things to such an extent that imperils the basic functionings of a capitalistic society.

00:01:21.720 And this is going to become an increasing debate in the months.

00:01:25.160 There's something else that's going on here.

00:01:26.680 But Julia Bromowitz said the from Bloomberg had a very trenchant comment the other day talking about the United Kingdom.

00:01:32.900 She said this is the end of the era of fiscal domination.

00:01:38.000 And what she said is that this is politicians continually to vote for and press all of these programs, both defense spending, all of it, all the way through to social spending that have these massive Keynesian deficits.

00:01:49.560 And the central banks have just been very passive to go along with it.

00:01:53.620 And this is the first time you've really seen the central banks say that the fiscal domination and one of the dark forces that Peter's talking about is the Bank of England.

00:02:02.160 Now, if you're if you're a pension fund, if you're a pension fund holder, you say they're the white knight.

00:02:07.700 If you're if you're someone who actually wanted a Tory government, they come in thatcher like they're a dark force.

00:02:14.340 But this is why it's going to be so important.

00:02:16.360 This era of fiscal domination where the politician could just have in the United States trillion, trillion and a half dollar deficits in the Federal Reserve just continued to pump.

00:02:25.540 In fact, now, what everybody should do is go to birchgold.com forward slash Bannon.

00:02:32.500 You get the you get our thing of the end of the dollar empire.

00:02:37.180 I've had two parts of this.

00:02:38.760 The first was the politics of money.

00:02:40.920 The second is the fall of the fall of the dollar as a prime reserve currency.

00:02:45.280 We're working on Chapter three.

00:02:46.800 But get up to speed.

00:02:47.560 We're entering an era like the 19th century with Andrew Jackson and Henry Clay and William James Bryant, that the politics of money is going to be everything.

00:02:57.820 And this is what people are going to be talking about.

00:02:59.360 This is exactly what's going on in the United Kingdom right now.

00:03:02.000 Not enough politicians are fluent enough to grasp the topic.

00:03:05.800 That's why you don't see a lot of people coming for.

00:03:07.320 That's why you see a Jeremy Hunt who is kind of marginalized.

00:03:10.840 He's now stepped up and actually coming forward because he actually I think he feels more equipped to do this.

00:03:17.280 This is why quasi court time.

00:03:19.460 Everybody thought this guy's a PhD in economics.

00:03:21.700 He'll understand it right away.

00:03:22.720 But it seemed like he he either didn't understand it or didn't feel like he had he had that old Atonian arrogance.

00:03:28.980 He didn't have to explain himself.

00:03:30.420 Here's what I want to do for a second, because I have said and I hate to say I've been right on this, but I said she would finally back off and go to the cuts.

00:03:36.740 I've also said she will be gone by this week.

00:03:39.700 I've also said by next spring, you'll see the end of the Tory party.

00:03:43.120 I recognize, though, given the situation, I cannot deliver the mandate on which I was elected by the Conservative Party.

00:03:53.140 I have therefore spoken to His Majesty the King to notify him that I am resigning as leader of the Conservative Party.

00:04:01.560 This morning, I met the chairman of the 1922 committee, Sir Graham Brady.

00:04:07.920 We've agreed that there will be a leadership election to be completed within the next week.

00:04:13.680 This will ensure that we remain on a path to deliver our fiscal plans and maintain our country's economic stability and national security.

00:04:23.900 I will remain as Prime Minister until a successor has been chosen.

00:04:29.280 Thank you.

00:04:29.820 Okay, welcome.

00:04:38.280 It's Thursday, 20 October in the year of our Lord, 2022.

00:04:41.360 So that was from earlier in the week.

00:04:43.200 I hate to say this, but I think I'm the only person in the world that said she would not make it through the week.

00:04:49.000 I gave a speech right after that at Hillsdale College or the Kirby Center here where I reiterated that Liz Truss would not make it through the week. 0.96

00:04:58.100 When people said, oh, no, no, she's going to make it through next spring or make it forever, including our brilliant political analyst from the U.K. 0.80

00:05:04.740 I'm not picking on him.

00:05:06.000 The reason is, is that this is.

00:05:07.980 So relevant to the United States of America and to what we're going through right now, I've got Dave Walsh on energy.

00:05:16.580 We have Dave Brat on the U.K. economy and productivity.

00:05:20.620 Peter McElvaney joins us, the Hearts of Oak.

00:05:22.820 He's actually in from the U.K. for a couple of days.

00:05:29.100 Here's why it's important.

00:05:30.820 This is the end of the Reagan Thatcher era, the policy toolbox that you could use in that era.

00:05:39.720 You cannot use right now because we're in a very different, very different time, very different set of issues, very different set of demands.

00:05:48.840 She, in a very knee-jerk way, with quasi-quartain, went to a classic Reagan supply site.

00:05:56.440 It's like Arthur Laffer was sitting in the room with him.

00:05:59.480 That was fine for President Reagan.

00:06:01.780 Remember, President Reagan had the ability to run massive deficits for that time, okay, and to get us out of the stagflation, which took us 14 years to get out of it.

00:06:11.480 You needed Volcker, and you needed both Reagan.

00:06:13.980 Here, you've had somebody come up with a playbook that won't face the two biggest issues you have to face, the fantasy of net zero carbon energy policy.

00:06:26.160 And if you don't think it's here, it's here, okay?

00:06:28.640 Net zero carbon energy policy.

00:06:31.600 You have to come to grips with that.

00:06:33.480 And then the others, you've got to come to grips with spending or how you're going to finance the spending.

00:06:41.480 You know, she got religion late after she got blown up.

00:06:43.820 And the thing is, too, this is inextricably linked to the pension funds for people who are dependent on these pension funds.

00:06:52.700 And the pension funds over there are very close to blowing up.

00:06:56.040 The carnage she has left in her wake for these ridiculous moves, unthought-through moves, and never had the guts to put forward the math. 1.00

00:07:05.040 This is as bad as Fauci and those guys.

00:07:07.060 Remember, back in the pandemic, I was ranting and raving all the time that you've got the University of Washington, Seattle with their model.

00:07:12.660 You've got the guys in England with their model.

00:07:15.380 Where's the model from the government?

00:07:17.360 Where's Fauci's model?

00:07:18.420 Where's the CDC's model?

00:07:19.620 What do they think about this?

00:07:20.980 Why are we going off of all these, extrapolating off all these universities?

00:07:25.040 Where's the government case of what the math says?

00:07:28.360 We're in an era.

00:07:29.580 This is why I've been doing stuff with Birch Gold.

00:07:31.240 We're in the era currency, the politics of money is now upon you.

00:07:36.040 The politics of money destroyed Liz's trust in 44 days, 44 days.

00:07:42.240 She was the conservatives.

00:07:43.720 She was that wing of the party's great hope.

00:07:46.100 The neoliberal neocon, you know, the neoliberal neocon era is done, right?

00:07:52.740 This is what we're going to have later.

00:07:53.880 Morning Joe's all over Kevin McCarthy were saying, hey, you don't have an open checkbook anymore for Ukraine.

00:07:58.140 You got Ron Klaim out there saying it's MTG's foreign policy.

00:08:01.980 We're in a new era.

00:08:03.540 Everything now is about winning on the eighth.

00:08:05.140 Everybody getting involved.

00:08:06.600 But these issues, the specter of these issues is over us right now, and it's going to come on top of us immediately after we win.

00:08:14.720 Because the Republicans, and particularly the populist nationalist wing of that, have to stand firm and have to say, this is what we have to do.

00:08:24.140 This country, England is just a microcosm of us.

00:08:28.200 It's just a microcosm.

00:08:30.040 And you saw in going back to the kind of Larry Kudlow, you know, author laugher, Steve Forbes, Steve Moore, and I love those guys.

00:08:41.120 They're great guys.

00:08:42.980 But the 1980s is calling and wants their economic policy back, right?

00:08:48.840 It's just not the same.

00:08:50.200 And Liz Truss is an example.

00:08:51.620 But we have to learn from this example.

00:08:55.440 Peter, give me a sense.

00:08:56.480 By the way, breaking news in Reuters, she just stepped down. 0.94

00:08:59.380 And literally, the body's not even cold yet.

00:09:03.400 They haven't even got, they haven't even dressed the body yet in 10 Downing.

00:09:07.020 And guess what?

00:09:07.860 Reuters is breaking that Boris Johnson's back in the hunt.

00:09:10.900 And we're going to talk about Boris Johnson.

00:09:13.220 My prediction stays.

00:09:15.080 I told you she would be gone by this week.

00:09:16.960 Everybody laughed at me.

00:09:17.680 In fact, I gave a thing at Hillsdale College that people afterwards said, what are you talking about?

00:09:21.240 She could last for six months.

00:09:22.880 She's never going away, at least, until they get to the election.

00:09:26.400 The Tory party is going to go the way of the Whigs next spring, unless they have a radical change of thinking and leadership.

00:09:33.280 In fact, if we can pull that clip up by the guy that's from BBC yesterday, it's on my getter feed, where he says they're a bunch of second raiders.

00:09:40.320 I want to play that a little later.

00:09:41.900 Peter McElveen, let me get you in here.

00:09:43.240 I got Brett and Walsh to go through it.

00:09:44.840 I want the audience to totally, look, we're not, obviously, not getting our eye off the ball on 8 November.

00:09:50.260 But this is big league, the way it connects, the interconnection here with capital markets, with economics, with where our situation is.

00:09:58.140 And, you know, you see McCarthy get a little spying where he's sitting there saying, no open checkbook on Ukraine anymore.

00:10:03.280 That's the first.

00:10:04.000 Remember, this, we got the bayonets to the back saying, no, no, no, no, we're not spending on Ukraine.

00:10:08.520 We're spending on the southern border, right?

00:10:10.320 Or we're going to cut the defense budget.

00:10:12.040 Got to cut the defense budget.

00:10:13.260 Got to cut.

00:10:14.060 Got to defund the FBI.

00:10:15.500 Got to get to the CIA.

00:10:17.420 Start gutting all of this.

00:10:18.540 Cut it dramatically.

00:10:19.460 Got to do it.

00:10:20.260 Not just the administrative state.

00:10:21.860 We can't afford it anymore.

00:10:23.660 We've been living in a fantasy.

00:10:25.300 That's a thing.

00:10:26.060 Julie Abramowitz and her sidekick there of Bloomberg.

00:10:30.540 It's such an important concept.

00:10:31.920 Fiscal dominance.

00:10:33.560 Fiscal domination.

00:10:34.640 You've had these politicians that have just run these massive deficits.

00:10:39.540 And the central banks have just gone along for the ride.

00:10:41.660 We'll just print money.

00:10:42.520 We'll the Bank of England print money.

00:10:43.680 And then eventually when interest rates pop because you can't keep in the fantasy world of zero interest rate forever.

00:10:49.220 We've only done it for 14 years.

00:10:51.220 And by the way, why have we done it?

00:10:53.420 Because the world's elites own everything now.

00:10:55.520 Here in the United States, 0.5% of the citizens own control, 90% more assets than 90% of the population.

00:11:02.920 This is not her.

00:11:03.800 It's not a conspiracy.

00:11:04.980 It's straightforward.

00:11:06.200 It's up in your grill.

00:11:08.340 And finally, by the way, labor doesn't have any better answer.

00:11:12.120 Their answer is actually worse.

00:11:13.380 Okay.

00:11:14.040 But guess what?

00:11:15.400 Because of the malfeasance and mismanagement of conservatives, the Tory party, who have been in power for 14 years, right?

00:11:23.260 Labor is going to get a long run.

00:11:24.840 They're going to get a lot of runway.

00:11:26.320 So the game has changed in the United Kingdom.

00:11:29.340 And I think the game may be over.

00:11:30.620 Peter, give us your thoughts analysis before I get to the Daves.

00:11:34.360 Wow, it was my first analysis.

00:11:36.320 When it was only two days ago, the ban on prophecy was that she would be gone by the end of the week.

00:11:41.140 And I held off because I thought there's no way we need to have things in place.

00:11:44.180 The 1922 committee need to meet, which is the parliamentary regulatory body for the conservatives.

00:11:49.400 But that's all gone out the window.

00:11:51.060 So an hour ago, she resigned.

00:11:52.780 She met with Sir Graham Brady, the chairman of the 1922.

00:11:56.040 And he has announced the rules, which are that by next Friday, we will have a new prime minister.

00:12:01.980 And she lasted 45 days and showed herself to be extremely weak, getting rid of her chancellor, 0.51

00:12:09.180 quasi throwing him under the bus, trying to placate the markets, putting in those who were key in Rishi Sunak's campaign.

00:12:16.420 So Jeremy...

00:12:17.260 Who's a globalist.

00:12:18.280 Yeah, yeah.

00:12:19.080 But let me say something about even what you said the other day is because you still work in Lourdes, right?

00:12:25.140 In fact, you're one of the senior aides to the last of the Thatcherites, right?

00:12:28.980 And probably one of the most right-wing guys there, which is fine.

00:12:31.280 I love that guy.

00:12:31.920 I love Thatcher.

00:12:32.580 I love that.

00:12:33.100 First film I ever made was Reagan and really Thatcher.

00:12:36.880 But your analysis was the correct analysis from a political structure.

00:12:42.880 Here's the point I'm trying to make in fear of the United States.

00:12:45.920 The capital markets are a wild beast.

00:12:49.000 And why you need financing from that, they're a wild beast.

00:12:51.940 And that beast can turn on you quickly.

00:12:53.760 And when that beast turns on you, they don't care about the 1922 committee.

00:12:57.140 They don't care about the processes and the standard way we do things.

00:13:02.320 And let's go have tea and talk about this. 0.95

00:13:04.140 They're going to rip your face off.

00:13:05.620 They're going to blow up your pension funds.

00:13:07.760 And then remember, from her actions, what's happened to the British people?

00:13:12.480 Car loans are more expensive.

00:13:13.720 Everything's more expensive than finance in the UK right now.

00:13:16.220 That means your car loans, your credit cards, your rent, everything.

00:13:18.700 The world is coming in on the British citizen because the political class, and this is what

00:13:23.660 the political class was like, it was cordoned off.

00:13:27.820 It was hermetically sealed from reality.

00:13:30.240 So you could have these kind of, you know, all this theoretical discussion.

00:13:33.520 We're going to cut taxes.

00:13:34.600 We're going to be Thatcherite.

00:13:35.440 She's going to be the new Margaret Thatcher.

00:13:36.760 Remember, I never said that she was Thatcher.

00:13:40.140 I always said Giorgia Maloney could be the Thatcher of Italy. 1.00

00:13:43.960 Not that Liz Truss was ever going to be Thatcher. 0.97

00:13:45.860 And her playbook came up, and quite frankly, when they didn't put forth, and this is the

00:13:49.300 key for all of us going forward, when you don't put forward your projections, when you

00:13:54.100 don't put forward the math of what you say the course of action is, that is not just

00:13:59.940 a red light.

00:14:00.600 That is like a boom, boom, boom, boom, boom.

00:14:02.580 When Quasi came up and said, you know, I think we're going to put them out. 0.98

00:14:04.840 We're required to put them out by the end of November.

00:14:06.940 And I go, dude, this guy doesn't have a week.

00:14:09.560 He should be putting them out this afternoon.

00:14:10.960 By the end of November, all of you guys are going to be gone.

00:14:13.140 Because it's just this arrogance of awfully, awfully hermetically sealed, and the world

00:14:17.680 doesn't matter.

00:14:18.420 Okay, short commercial break.

00:14:19.920 We have the Hearts of Oak, Peter McElvaney here.

00:14:22.060 We've got the two Daves, Brett and Walsh.

00:14:24.240 We've got a lot to talk about to make the interconnections of blockbuster news coming out of the UK.

00:14:29.880 As Jack Posobiec says, two governments have fallen in the United Kingdom since the start

00:14:34.960 of the Ukraine war.

00:14:36.180 Hmm.

00:14:37.060 Let me think about that for a second.

00:14:38.980 All next, in the War Room.

00:14:40.340 You know what's never good?

00:15:01.460 When your nation's supposed authority on economic policy completely misses the flashing red lights

00:15:08.260 of impending inflation.

00:15:10.300 Now, Treasury Secretary Janet Yellen has finally admitted, quote,

00:15:14.460 there's been an unanticipated and large shocks to the economy that have boosted energy and

00:15:18.780 food prices and supply bottlenecks that affected our economy badly that I didn't, at the time,

00:15:26.800 fully understand.

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00:16:24.360 ...programs from the Pennines to Cornwall.

00:16:28.520 The rollout of gigabit broadband up over the last three years, I am proud to say, since

00:16:34.280 you were kind enough to elect me from 7% of our country's premises having gigabit broadband

00:16:40.520 to 70% today.

00:16:42.640 And we are, of course, providing the short and the long-term solutions for our energy needs

00:16:47.440 and not just using more of our own domestic hydrocarbons, but going up by 2030 to 50 gigawatts

00:16:54.800 of wind power.

00:16:55.960 That is half this country's energy, electricity needs from offshore wind alone.

00:17:01.360 A new nuclear reactor every year.

00:17:03.640 And looking at what is happening in this country, the changes that are taking place, that is

00:17:09.240 why private sector investment is flooding.

00:17:12.340 And more private sector, more venture capital investment than China itself.

00:17:17.120 More billion pound tech companies sprouting here in the UK than in France, Germany, and

00:17:24.180 Israel combined. 0.53

00:17:25.380 Kenny Kay, this has been a, shall we say, tumultuous two months for Great Britain.

00:17:32.060 Boris Johnson's resignation, the death of the monarch, and now this.

00:17:35.760 Just give us a sense.

00:17:37.320 I know you were just there recently, obviously before this resignation, though.

00:17:41.020 Just the national mood right now.

00:17:44.260 Is this, how is this country faring?

00:17:46.820 Is it, it feels, is it just one upheaval after another?

00:17:50.220 Its economy obviously had been battered, real fears of a lot of inflation only getting worse

00:17:55.480 as the winter comes.

00:17:57.220 What is the sense of people who live on that island right now?

00:18:02.780 Look, I think as we watch political drama play out, and in a way there's a sort of, you

00:18:08.620 know, oh my God, is this really happening sort of spectator shock sport element to this.

00:18:15.240 And it looks like chaos.

00:18:16.540 It feels like chaos.

00:18:17.560 And political drama is always like that.

00:18:19.560 We should remember, as you're suggesting, Jonathan, that the UK and British people are going 0.56

00:18:26.000 through a period of real hardship as we head into a winter in which potentially we are going

00:18:32.900 to see heating cut off for certain hours during the day.

00:18:37.440 We have the possibility of having blackouts again.

00:18:42.420 This is horribly reminiscent of the 1970s.

00:18:46.140 And for Americans traveling to the UK at the moment, it is wonderful.

00:18:49.560 But the pound is at parity almost with the dollar.

00:18:52.440 For an importing nation like the United Kingdom, it is not wonderful. 1.00

00:18:57.040 Prices are high.

00:18:57.920 Inflation is running at around 10%.

00:18:59.840 And we talk about inflation here.

00:19:01.800 They are feeling it more in the United Kingdom.

00:19:04.600 They are feeling those high energy prices.

00:19:06.580 They are heading into a winter in which people know their bills are going to cost a lot.

00:19:11.280 Prices are going to be high.

00:19:13.060 Energy prices are going to be high.

00:19:14.560 We have a national health service, which has been the sort of crown jewel of British politicians,

00:19:19.980 including conservative politicians for a long time.

00:19:22.340 Okay.

00:19:23.220 Yeah, because they've been fooling themselves.

00:19:26.460 Boris on energy.

00:19:27.560 Boris has been, the Guardian had this from a couple of years ago.

00:19:30.240 Boris has been promoting this net carbon zero fantasy forever, hasn't he?

00:19:34.600 So this was Conservative Party Conference, October 2020.

00:19:37.680 The headline was Boris Johnson to unveil plan to power all UK homes with wind by 2030.

00:19:44.440 And it was a 10-point plan, build back greener.

00:19:48.200 And he talked about how them pledging to make the coronavirus pandemic a catalyst for green growth.

00:19:55.440 Green growth.

00:19:56.120 Build back better.

00:19:56.820 How'd that work out for you?

00:19:57.800 I want to go to Dave Walsh first.

00:20:01.200 Dave, the centerpiece of this is the political class, and particularly the Tories, that are supposed to be the Conservatives,

00:20:08.460 really kowtowing to this infantile and dangerous sustainability.

00:20:15.240 Yes, we like sustainability.

00:20:16.680 You've got to, you know, eventually over time, we want to be good stewards of the earth.

00:20:20.700 Clearly you've got to do it, but not the radical way they're doing it.

00:20:23.100 Walk me through, and you see right there from Peter, from Hearts of Oak, how Boris, this has been one of the centerpieces of his reign, 50% by 2030.

00:20:32.780 Oh, excuse me, all British homes by 2030.

00:20:36.460 Dave Walsh, give me your assessment of the energy plan that essentially destroyed Liz Truss.

00:20:43.320 Well, the deep concern is the repudiation of her articulated energy plans for opening up fracking across the UK,

00:20:50.420 making it not illegal, and opening up about 132 permits in the North Sea,

00:20:56.540 were possibly way involved in her undoing, the repudiation of that by our Tory party.

00:21:02.680 England in 2000 was 100% self-dependent on electrical power and energy overall.

00:21:09.800 Since that time, it has consciously reduced electricity production by 14% and 27% per capita.

00:21:17.840 Electricity production is basically the lifeblood of any developed economic society.

00:21:23.260 England has taken conscious steps to reduce capacity, electrical capacity, energy capacity,

00:21:29.400 and particularly per capita as the population has grown.

00:21:32.580 The UK had been about 34% dependent on its own coal-powered power for energy.

00:21:38.560 It reduced all of that, took its nuclear capacity down by about 25%.

00:21:42.840 So basically, since 2000, they have reduced continuous-duty baseload on-demand electricity sources by 40%.

00:21:51.800 How have they compensated for that?

00:21:54.300 Massive additional imports of gas, because they no longer produce much in the North Sea,

00:21:59.840 almost none on the island itself in ground,

00:22:03.840 and also from a conscious process of electricity consumption reduction.

00:22:08.960 The reduction in the production of electricity has caused a consumption reduction by 15% to 16% per capita since 2000,

00:22:18.680 which, again, is a lifeblood.

00:22:20.640 Growth in electricity consumption is a lifeblood of an economy.

00:22:23.840 This broadband discussion, among many other technologies, broadband is an electrical-based phenomenon.

00:22:30.600 You need more electricity to have computers, to have laptops, cell phones, broadband, all the above.

00:22:35.840 The UK has consciously taken steps to go in the opposite direction.

00:22:40.700 So we have the BBC this week broadcasting, or we're hearing from credible sources preparing public announcements for the winter

00:22:48.840 about service interruptions occurring, blackouts up to two days' duration,

00:22:53.340 potentially this winter, they're preparing emergency announcements.

00:22:55.980 And then we have John Pettigrew, the CEO of the National Grid, announcing that we should expect 4 to 7 p.m. brownouts periodically in the UK this winter

00:23:06.960 from the mouth of the CEO of the National Grid.

00:23:10.420 So the energy policy is in faltering ruins in the UK.

00:23:13.980 Hang on.

00:23:15.280 In a conservative government, Tory government has been around for 12 years,

00:23:18.960 BBC is getting ready to make announcements, two-day blackouts, rolling blackouts,

00:23:22.580 and you can have four to seven daily brownouts in an advanced industrial economy.

00:23:28.380 That is what, the fifth or sixth biggest economy in the world.

00:23:32.100 You've got the U.S., China, I think you've got Germany, and then you've got a couple of guys,

00:23:36.920 France and the UK, and Italy.

00:23:41.480 And those warnings are coming ahead of the National Grid.

00:23:44.640 Head of the National Grid.

00:23:45.520 Compare and contrast that to what Biden has done since he's been here and this economic debacle we're in.

00:23:53.200 Compare what the British have done since 2000, right? 0.98

00:23:57.420 Conscious decisions by the political class, not looking at the realities of the physical world

00:24:03.180 and not looking at the realities of the capital markets, which has their own physical properties to them.

00:24:09.100 Walk me through what Biden has done in his first, I guess, 18 months, sir.

00:24:16.660 His own commentary and the strategy of his leadership through the Department of the Interior, the EPA,

00:24:24.440 and now the Secretary of the Treasury are taking us in exactly the same direction.

00:24:29.380 And that is with the announcement of the desire to cease in the long run any dependence on fossil fuels.

00:24:35.380 They've been right out there with it.

00:24:36.620 The restriction on production in this country, the restrictions imposed on pipeline transmission of gas

00:24:42.460 have been all about and only about moving to the Ocasio-Cortez version of green,

00:24:49.160 which is eliminating any dependence on fossil fuels,

00:24:52.020 which takes you right to the same position the UK is in today,

00:24:56.160 because the renewables do not work as a replacement for fossil fuels.

00:25:01.380 We're not close to having renewables be a viable solution in that as you become more dependent on them.

00:25:08.260 What Boris is broadcasting, about 50% dependence on wind means endemically codependence on much more natural gas

00:25:16.900 to back up all of the times, the 50% of the time and the intermittency that it's not there.

00:25:22.740 And then as you build more of it, you're in a zero-sum game needing to build more and more and more of it.

00:25:28.600 To get to 50%, they'd need to build three to four times what they have already in wind resources in the UK

00:25:34.940 because it's a point of diminishing returns given the fact that it's intermittent and only works about 42% of the time.

00:25:42.880 You've got the reciprocal buffered by it's got to be natural gas.

00:25:46.640 You're building a codependence on even more gas when you do this.

00:25:50.020 It makes no sense.

00:25:50.880 Look, as Brexit was tied to the – because we worked on Brexit nonstop.

00:25:56.020 As Brexit was – over at Breitbart, as Brexit was linked to Trump, the revolt.

00:26:01.880 It's one of the reasons I was brought in as CEO of the campaign.

00:26:04.760 Those are indirectly linked.

00:26:06.860 This is why I said Liz Truss is going to be gone this week, although hermetically sealed by the political class. 1.00

00:26:11.380 It's the same reason Biden's – remember, Liz Truss's premiership ended today.

00:26:16.860 I think essentially the Tory party ended today.

00:26:20.200 It's like a deer that's been shot.

00:26:21.580 They're going to run around for a while.

00:26:22.960 But the motive power is gone of a 200-year party.

00:26:27.180 Joe Biden's presidency ends on the 8th of November.

00:26:30.320 It ends.

00:26:31.200 You're seeing now all the knives are even coming out.

00:26:33.000 They don't want Biden anywhere.

00:26:34.000 They're blaming Obama for not doing enough.

00:26:35.640 And trust me, Gavin Newsom is going to sit there and go.

00:26:37.780 The hermetically sealed political class in this city, our imperial capital, doesn't get it.

00:26:44.180 But Dave Walsh is walking you through the laws of physical property of the modern industrial world.

00:26:53.360 If you want to follow Greta Thunberg, if you want to be like Boris Johnson – and remember, all these guys want to be fed it and praised by the Guardian, by the Times of London, by the BBC.

00:27:01.280 They want to go to all the parties and have people say, you're just so magnificent.

00:27:04.880 So they're not prepared to understand what reality is and then have the stones to stand in the breach and do it.

00:27:14.580 Liz Truss thought she was doing it.

00:27:16.220 And this is my thing about the old playbook.

00:27:17.700 Throw the old playbook out.

00:27:20.300 It's the end.

00:27:21.300 Thatcherism and Reaganism died today.

00:27:24.840 And here's why it died.

00:27:25.720 Not that I don't love those people and admire them and appreciate them.

00:27:29.020 They were there under radically different circumstances.

00:27:31.880 What the political class in Wall Street, in the city of London, with modern monetary theory and all of this, what it has done to the world as it's in a radically different set of problems.

00:27:43.900 We have to solve for that problem set.

00:27:47.000 Okay.

00:27:47.420 Peter's going to stick with us.

00:27:48.700 The two days when we get to Dave Brady's going to walk us through the UK economy and how it parallels to the good old United States of America.

00:27:58.360 Stick around.

00:27:59.360 You're in the war room.

00:28:00.000 Back in a moment.

00:28:00.760 Bring it on and now we'll fight to the end.

00:28:03.560 Just watch and see.

00:28:04.740 It's all started.

00:28:06.920 Everything's begun.

00:28:08.740 And you're all over.

00:28:11.360 Because we're taking down the CCP.

00:28:15.400 Spread the word all through Hong Kong.

00:28:17.700 We will fight till they're all gone.

00:28:20.240 We rejoice when there's no more. 0.95

00:28:22.140 Let's take down the CCP.

00:28:24.040 Fair warning.

00:28:25.420 Listen to this convicted home title thief explaining what happens when he forges your home's title and takes over as the new owner.

00:28:34.480 Nobody thinks that I can take their house and borrow against the house.

00:28:37.540 Oh no, I have title insurance.

00:28:39.200 It's in my name.

00:28:40.340 Or he would have to get some special document.

00:28:42.520 They would call me.

00:28:43.860 You know, nobody's calling you.

00:28:45.620 You're living in a delusion.

00:28:47.320 After I've stolen the title, borrowed against it, or sold the property, it's 60 to 90 days for that person to even figure out that they're the victim of this crime.

00:28:55.000 You start getting foreclosure notices.

00:28:56.960 You've got four mortgages on your house.

00:28:58.720 You don't even own your home anymore.

00:28:59.940 It's not even in your name.

00:29:01.160 Home title fraud is growing two and a half times faster than credit card fraud.

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00:29:25.500 Again, get your free home title report at hometitlelock.com promo code radio.

00:29:33.560 In Joe Biden's America, criminals are exalted and the police are condemned.

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00:30:51.300 War Room Pandemic with Stephen K. Bannon. 0.67

00:30:55.100 The epidemic is a demon and we cannot let this demon hide.

00:30:58.940 War Room Pandemic.

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00:31:30.160 So make sure you support the armor-piercing show that is Mike Lindell and all these great products.

00:31:36.140 Before I go to, we got trying to track down Nigel Farage.

00:31:38.880 We had Nigel on the show the other day.

00:31:40.480 We lit Nigel up about stepping up and taking some leadership.

00:31:43.540 He's got this great hit show on GB News because Nigel's the guy, the cavalry.

00:31:48.180 He came in on Brexit and made Brexit happen.

00:31:50.480 He's the guy that did Brexit, not Boris Johnson.

00:31:53.360 Nigel Farage is the best leader in the United Kingdom.

00:31:56.300 He's got to step up.

00:31:57.060 Then he made the four-minute video day before.

00:31:59.080 So he was thinking about it.

00:32:00.060 So tell me about energy, some other breaking news out of the UK.

00:32:04.240 The thing was, well, Reuters was saying two days ago just about the LNG tankers.

00:32:09.160 They said there were dozens of LNG tankers sitting off Spain because they couldn't actually process it.

00:32:14.780 In Spain or in the UK?

00:32:16.900 This was in Spain.

00:32:18.180 But again, it's normal government policy that you haven't joined up.

00:32:22.000 But then in the UK, Boris was talking about floating windmills in the Atlantic.

00:32:25.960 So he's come up with a new technology that just exists in his head, I guess.

00:32:28.840 Germany, by the way, Cortez is going to join us for the second hour.

00:32:32.680 Germany announced, I think, 45% inflation.

00:32:34.980 The numbers are the highest, I think, since the 1930s.

00:32:38.180 Wait for it.

00:32:39.560 We know what happened when that type of inflation hit Germany in the 1930s.

00:32:44.120 Bad things happen, OK?

00:32:46.940 They just announced 10.9% inflation in Europe, across the Europe.

00:32:52.260 The highest inflation in the United Kingdom in 40 years.

00:32:56.260 Let's go to Dave Bratt.

00:32:57.380 Walsh, hang on there for a second.

00:32:58.560 We've got more questions on energy.

00:32:59.940 Dave Bratt, your assessment of the UK economy and what does it portend for the United States of America,

00:33:06.900 particularly after November 8th, when the Republicans are going to be on watch to get our arms around this thing?

00:33:14.340 Yeah, well, it follows exactly the conversation we had yesterday on the managed decline of our economy

00:33:21.160 and similarly the managed decline of UK.

00:33:24.600 Once just the greatest nation on the earth, the great thinkers, Cambridge, Oxford, Francis Bacon, Newton, on and on and on you can go.

00:33:35.560 Who are they naming now?

00:33:37.880 Now what you have run through the institutions, the universities, is ideology.

00:33:42.980 And the politics at the highest level in the world is being run on ideology, not science.

00:33:48.380 Walsh just went over what the science would dictate, what a rational energy policy would dictate.

00:33:54.880 We don't have policy right now.

00:33:56.500 We have ideology.

00:33:58.440 And so along with that...

00:33:59.840 No, no, hang on, hang on.

00:34:01.060 Whoa, whoa, whoa.

00:34:01.640 Hang on for a second, Brad.

00:34:02.580 I think it's deeper than that.

00:34:03.520 I think the climate thing is a cult.

00:34:05.160 It's a pagan cult.

00:34:06.560 It's a religion.

00:34:08.180 Cambridge and Oxford, these guys have gone back to the Middle Ages where if you question church theology,

00:34:13.120 how many angels dance on the head of a pen, off with your head or you're excommunicated.

00:34:17.380 This climate is not even an ideology.

00:34:19.880 It's gone from ideology.

00:34:21.320 Am I wrong, Peter?

00:34:21.980 If you ever think, it's a cult.

00:34:23.960 This is a pagan cult of Gaia, of the Earth Mother, right? 0.82

00:34:27.540 It's a pagan cult around nature.

00:34:30.280 You got to call it what you call it.

00:34:31.460 It's a pagan cult with all the aspects of a cult, all aspects of a... 0.95

00:34:35.480 It's not an ideology, I would argue.

00:34:37.580 It's a theology.

00:34:39.060 And you can't go off the reservation or off with their heads.

00:34:42.560 And this is why you have Boris Johnson sitting up there mouthing things that are not...

00:34:48.320 It does not comport to the second law of thermodynamics, things like that.

00:34:52.460 Like I keep saying, all this stuff with money and printing money and budgets and all that,

00:34:57.300 that's human action and human agency.

00:34:58.940 There's no physical property.

00:35:00.640 There's no second law of thermodynamics to say the world has to be like that.

00:35:04.100 Those are human decisions.

00:35:06.140 What they've done on this climate is turn it into a theology of which the Dave Walsh's of the world going,

00:35:12.640 what are you talking about?

00:35:13.740 This thing can't even... 0.79

00:35:14.680 You listen to a 12-year-old girl and all these nutcases that are running around. 1.00

00:35:18.980 And now if you go off the reservation, you are deplatformed.

00:35:23.820 You are debanked.

00:35:24.800 And this is the lesson for the world.

00:35:27.260 Look at Germany. 0.71

00:35:28.520 Look at the UK.

00:35:29.460 Katie Kaye is from BBC.

00:35:31.480 She's not from World War Room, okay?

00:35:33.800 Katie Kaye is the BBC reporter.

00:35:35.840 Heating is going to be cut off, blackouts.

00:35:38.560 It's going to be a horrible winter for the UK.

00:35:41.380 Dave Walsh has told you BBC, the word is they're getting on 60-second spots to put up and saying,

00:35:46.920 hey, two-day blackouts, two-day blackout, how cold do you think it's going to be up in the Midlands, right?

00:35:51.500 How do you think Scotland is going to handle that?

00:35:53.740 And or every afternoon from 4 to 7 when everybody comes home,

00:35:58.420 and remember it gets dark over there like at 2 o'clock in the afternoon during Christmas because of the latitude,

00:36:04.000 we're going to have brownouts every day.

00:36:05.820 Merry freaking Christmas, Mr. Dickens, right?

00:36:11.720 So, Brad, is it a theology? 0.52

00:36:14.240 You're at one of the top religious schools in the country.

00:36:16.660 Is this a theology or an ideology?

00:36:19.840 Yeah, no, and I agree with you 100%.

00:36:22.440 It's Marxist ideology, which is atheist.

00:36:25.060 The whole modern world right now is a war between – it's a spiritual war between God and no God.

00:36:30.580 And the no God camp, of course, has a false God, which you just pointed out.

00:36:35.260 That's the war. 0.52

00:36:36.060 And then I got a couple of charts along with that, this Marxist ideology, which cannot have a competitor God, right?

00:36:45.820 They have to get rid of the family.

00:36:47.740 All your guests are consistent on that.

00:36:49.420 You can't have philosophy.

00:36:50.560 You can't have rule of law, et cetera.

00:36:51.840 But if you look at the charts, the UK government spending now is 52% of their entire economy on the far right there, right?

00:37:01.700 And so you have over half of your economy in this government new ideology Marxist exploratory committee of ideas.

00:37:11.040 Hang on, hang on.

00:37:12.280 I just got to repeat for our audience.

00:37:15.320 It's been a Tory government for 12 years.

00:37:17.840 It's been a Tory government for 12 years.

00:37:20.120 This is why they say they're not conservatives.

00:37:22.680 They're just liberals with a different pitch.

00:37:26.640 You've had 12 years to sort this problem out.

00:37:29.360 Keep going, Dave, Brett.

00:37:30.780 Yeah, next chart.

00:37:31.720 Just to put it into context, our federal government to GDP is in the low 20s, but we also have state government, local government, all those taxes, all the spending.

00:37:45.240 And so for those who think that we're very far off from the euro socialists, we're not that far off as this chart shows, right?

00:37:54.320 So this is just getting to 211, but you see the trajectory.

00:37:57.060 And the problem here is everybody wants Christmas every day, and the American voter has to make up their mind on this, right?

00:38:05.940 You got to eat your spinach to get economic growth.

00:38:08.700 So all this money is going into consumption goods, just goods you like, but they do not cause the economy to grow.

00:38:16.180 The educators right now in K to 12, you're spending $20,000 on each kid.

00:38:20.880 What is the money going to?

00:38:22.600 Universities, they got deans of every creative studies you can make up right now.

00:38:27.060 Hold it, whoa, whoa, whoa, Dave, Brett, hold it, slow down.

00:38:30.240 The Inflation Reduction Act, everything's an investment.

00:38:34.740 These are all investments.

00:38:36.520 How can you sit there and say, how can you be so out of the loop in saying this is just, you're just paying for operations.

00:38:45.160 You're just paying to keep it going.

00:38:46.620 Everybody, they all tell me on MSNBC every night, and every politician, Democrat politician saying these are investments.

00:38:51.480 Why are they not investments, sir?

00:38:52.880 Well, we got the receipts on that.

00:38:56.560 They were up yesterday against competing Treasury secretaries of the current administration.

00:39:02.100 We have the facts on our side, right?

00:39:03.920 Robert Gordon is the guru at Northwestern University on productivity.

00:39:07.560 We're at the managed decline.

00:39:09.400 And that chart has gone straight down for 50 years.

00:39:13.380 Productivity.

00:39:14.240 And so if you're doing all these investments, then why is the rate of return on all the investments zero?

00:39:21.960 And that, of course, correlates, as we showed yesterday, the productivity is roughly the same chart as GDP per capita, which is the same thing as your personal income at home.

00:39:32.160 And so the middle class is well aware that their wages have been flat for about 40 years.

00:39:37.660 During the Trump administration, there was an upward blip for high school grads for the first time in real wages.

00:39:44.400 Now real wages, everyone knows, are being obliterated by inflation, right?

00:39:48.900 So if wages go up by four, but inflation's eight percent, you're losing four percent, right?

00:39:54.360 So real wages are down right now, all caused by this elitist ideology class who's been running things from the Death Star over in Europe.

00:40:04.160 And then we have Chinese influence on us.

00:40:06.880 And we went right along with all that.

00:40:08.960 Our elites allowed all that to happen.

00:40:11.000 Hang on.

00:40:11.560 Let me bring Walsh in for a second.

00:40:12.880 This is the, as productivity is the holy grail of industrial society.

00:40:18.480 This gets back to energy.

00:40:20.360 This was Trump's full spectrum energy dominance, right?

00:40:24.120 Whether it's wind, whether it's solar, whether it's nuclear, whether it's natural gas, oil production, across the board, not independence.

00:40:33.720 That's a full spectrum energy dominance.

00:40:36.760 Dave Walsh, I just want to make sure the audience understands because this is going to be the issue after you have the shift in power.

00:40:42.880 Why is energy in this world, in the 21st century, why is energy underpin everything when you talk about GDP, GDP growth, productivity, GDP per capita, all that?

00:40:56.540 Why is it that you have to have a realistic energy policy or everything else?

00:41:00.580 You're just building it on a house.

00:41:02.200 You're building it on a foundation of sand, sir.

00:41:04.620 Well, if you think about the notion of what's called core inflation, inflation that impacts core production, core products, aluminum, steel, coal, plastics, polymers, fertilizers for agriculture, transportation, core products.

00:41:24.260 Energy is at the heart of, is a major, major cost input and barrier to existence of most core products of the type I mentioned.

00:41:35.180 Anything to do with materials virtually of any kind except wood, all of the rest of materials from metals to polymers to plastics, all based on energy and basically natural gas and oil to produce them.

00:41:49.060 And critical inputs to their content, along with, of course, fertilizers, we've made that case hugely.

00:41:54.920 The entire developed world elevation in food production by a factor of three times, even since 1900 and two times since 1960, is almost entirely based on the fact of having ammonia produced from natural gas fertilizers to propel agricultural production globally in the last, in the last 40 to 50 years.

00:42:14.500 It's medicines, medicines, the ability to transport medicines, the ability to conduct surgery, and the ability to use a 5G system, even brought up by Johnson today or a few days ago, all dependent on the, on electrification, natural gas and oil energy sources to transport, to make, to ship.

00:42:33.260 Nothing's changed.

00:42:34.260 Nothing's changed at all.

00:42:35.800 I want to pull that thing for, I get on my getter for the guy, the conservative guy, but we'll do it for the, in the cold open.

00:42:40.180 Is this conversation happening at all in commons?

00:42:44.240 Is this happening in the Tory party about what actually has to happen to get the British economy worked out?

00:42:50.720 Are you hearing these types of discussions?

00:42:53.640 Well, yeah.

00:42:53.920 Boris did say that how we're going to fix this is for people to buy a new kettle.

00:42:57.680 I think he said that a couple of months ago.

00:42:59.400 To buy a new what?

00:43:00.060 A new kettle to boil your water.

00:43:02.420 That's what, that was the solution from the government.

00:43:06.180 They haven't, where, as we have.

00:43:07.820 Are you serious?

00:43:08.440 Is he being funny or is there some?

00:43:09.860 Oh, no, no, serious.

00:43:11.360 It was a serious comment.

00:43:12.160 This is how we're going to fix our energy policy by going down and spending 20 pounds in your local shop on a new kettle to boil water.

00:43:18.340 And it shows they've absolutely run out of ideas.

00:43:20.540 But then after 12 years, they have.

00:43:22.760 So I am actually hoping that we do have a change.

00:43:25.160 Put Labour in.

00:43:26.600 Let the Tories go into it.

00:43:28.060 How could you agree to that?

00:43:29.700 If Labour comes in, it's over for the UK.

00:43:31.620 But it's over for...

00:43:32.980 No, not if you get...

00:43:34.200 You still have plenty.

00:43:35.200 You still...

00:43:35.580 You can come forward with a plan that actually works.

00:43:37.720 It's like here in the States.

00:43:38.640 And I realize a lot of our libertarian listeners and viewers are, you know, freaking out that, oh, you've got to have tax cuts.

00:43:45.040 When you...

00:43:45.700 Yes, you want tax cuts and you want empowerment, but you've got to get your house in order first.

00:43:50.600 That getting your house in order first is predicated upon having a rational energy policy.

00:43:56.620 Remember, the stagflation in the 70s, let's go back in time.

00:44:00.000 It wasn't just paying for the guns of Vietnam and the butter of the Great Society, the guns and butter, right?

00:44:05.880 It was also Nixon freaking out and not making...

00:44:09.080 Remember, Nixon made no cuts to the domestic budget.

00:44:11.420 He came in and tried to kowtow to the liberals and let all the Great Society go.

00:44:16.120 He wanted to focus on foreign policy.

00:44:17.880 It was the Arab oil embargo.

00:44:19.820 It was the Arab oil embargo that threw off the America's energy plant at the time that really got stagflation rolling, as people remember.

00:44:28.620 Energy policy has to be sorted at the same time you get control of the administrative state.

00:44:34.160 The administrative state has an unlimited appetite for cash, and the central banks have been providing it.

00:44:40.700 That's fiscal domination.

00:44:42.000 This all has to stop here in the United States of America.

00:44:46.600 Be back in a moment.

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00:46:40.560 Okay, join us in Metro Phoenix in mid-December, starting the 16th, I think it is.

00:46:47.200 Go to tpusa.com.

00:46:49.520 That's the slash war room.

00:46:52.080 That is Turning Point USA.

00:46:53.640 Go there.

00:46:54.000 We got the big America Fest.

00:46:55.960 Tucker Carlson, myself, Jack Posobiec.

00:46:59.380 Tons and tons of people, of course, put on by Charlie Kirk and the folks at Turning Point.

00:47:03.020 Also, you can get the book at half price, The College Scam.

00:47:07.280 If you want to know why the trillion dollars, Biden's buying off these voters by shifting a trillion dollars onto your shoulders, read The College Scam.

00:47:14.420 You'll understand about the cartel.

00:47:15.740 So go to the date and check it out.

00:47:17.040 I'm going to get back to the politics of Boris Johnson in a second.

00:47:20.760 Peter's actually going to stick around with us in the second hour.

00:47:23.140 Dave Bratt, any other charts, any other comments, analysis of the UK economy and why it portends what's going to happen here to our own beloved republic, sir?

00:47:34.800 Yeah, well, as you know, I have libertarian tendencies.

00:47:39.080 Those tendencies only work when you have free markets at play.

00:47:42.500 So when the government is over half of GDP and you've got a list of everything, big auto, big airlines, big banks, big tech, big health care, big government.

00:47:53.240 OK, so you're going to give some tax cuts to all those bigs, right, all these monopolies.

00:47:58.460 And you really think you're going to incentivize this?

00:48:01.200 No, you need a structural change of our economy.

00:48:04.480 You need to downsize spending.

00:48:06.560 You need to downsize the role of the administrative state.

00:48:09.180 Then once you get a somewhat of a functioning free market economy where prices matter, then maybe you can discuss some tax cuts.

00:48:18.040 But that's the new innovation here.

00:48:19.940 But why is 52 percent of GDP – why is that not – that's socialism, isn't it?

00:48:25.400 That's why I say socialism.

00:48:26.740 When the government's half – over half of your GDP is government spending, why is that not socialism?

00:48:32.200 This is why the tax problem is so bad there anyway.

00:48:33.980 And I'll add one other thing.

00:48:37.180 It's not just the size of government.

00:48:38.960 It's regulatory capture, right?

00:48:40.580 James Buchanan at the Virginia School, he won a Nobel Prize.

00:48:44.320 So it's not just that prices don't work.

00:48:46.960 It's all regulated.

00:48:48.280 So you can make price changes.

00:48:50.120 They'll have no effect if you've got to follow federal state law on certain mandates in Medicare, Social Security, et cetera.

00:48:56.120 But don't – remember, all these – mostly – this is – just because they say the Tories are conservatives, just like they say the Republicans, don't think they're really conservatives.

00:49:04.200 It's just – it's controlled opposition.

00:49:06.040 And they don't want to – they don't want to cross BBC.

00:49:09.740 They don't want to cross the people putting on the cocktail party just like in New York City and the Hamptons.

00:49:13.580 They want to be welcome to all those things.

00:49:15.740 Dave Walsh, anything on energy we've missed here?

00:49:18.940 What is – Boris Johnson, by the way, the word is now Boris Johnson.

00:49:23.900 In fact, I just had a very smart guy from Scotland that I really admire his thinking.

00:49:27.960 He says Boris Johnson is going to come back.

00:49:29.400 He's got this locked.

00:49:30.240 He says they'll just come in because right now these other guys are midgets compared to Boris Johnson. 0.59

00:49:35.400 We'll get to Peter in a second on that.

00:49:36.880 Your thoughts, Dave Walsh, are where they're jammed up on energy, right?

00:49:40.480 You know, she's – she's adding $20 billion, I think, 20 billion pounds to pay for everybody's electricity, trying to get back to some fracking. 0.70

00:49:47.740 But right now they don't have an energy policy that they have the balls to push through.

00:49:53.100 No, just the key punchlines.

00:49:55.260 Doubling down on their policies of the last 20 years will not work.

00:49:59.920 What they've done by destroying baseload continuous generation by 42 percent of their mix, coal and nuclear being taken offline,

00:50:07.740 they've displaced that by reducing personal consumption by 27 percent and then by importing gas, the rest of it.

00:50:14.920 They used to be a net exporter of natural gas in 2000.

00:50:18.620 Now they're a massive net importer of it from Norway, of course, the U.S.

00:50:22.420 They only have one import terminal, which is another huge problem.

00:50:25.140 Europe has only – really, the U.K., Spain, and France have meaningful importation capacity for LNG.

00:50:31.420 So, yes, right now you've got all these tens of tankers lined up from the U.S., from Qatar, from Australia, lined up to support natural gas to LNG to Europe.

00:50:43.680 But they don't have the importation capacity built to deal with it, and that takes two and a half to three years to build.

00:50:49.000 So they're in a huge problem that wind will not get them out of and actually will accelerate the problem.

00:50:57.340 You see these commercials, it's all fantasy.

00:50:59.600 Dave Walsh, how do people get to you on Getter?

00:51:02.760 Thank you, Steve.

00:51:03.540 That's Dave Walsh Energy on Getter.

00:51:05.300 Thank you.

00:51:06.100 Amazing.

00:51:06.700 Cult shot there.

00:51:07.720 Dave Bratt, another cult shot.

00:51:08.940 How do people get to you on Getter?

00:51:11.280 Yep.

00:51:11.580 Bratt Economics at Getter, third floor, Liberty University School of Business.

00:51:16.180 Come visit.

00:51:16.820 Bring your young scholars anytime.

00:51:20.000 Brother, thank you very much.

00:51:21.320 Tremendous.

00:51:21.760 Let's play.

00:51:22.140 Do we have the Sky News?

00:51:23.480 Let's have this Tory member.

00:51:24.880 Let's hear what he's got to say.

00:51:27.600 Excuseable.

00:51:28.900 It is just, it is pitiful reflection on the Conservative Parliamentary Party at every level.

00:51:35.800 And it reflects really badly, obviously, on the government of the day.

00:51:40.460 Do you think there's any coming back from this?

00:51:42.980 I don't think so.

00:51:43.920 But I haven't, I have to say I've been of that view really since two weeks ago.

00:51:51.580 This is an absolute disgrace.

00:51:53.880 As a Tory MP of 17 years, who's never been a minister, who's got on with it loyally most

00:52:00.760 of the time, I think it's a shambles and a disgrace.

00:52:04.460 I think it is utterly appalling.

00:52:06.920 So you seem highly...

00:52:08.440 I'm livid.

00:52:09.300 And, you know, I really shouldn't say this, but I hope all those people that put Liz Truss

00:52:14.760 in number 10, I hope it was worth it.

00:52:16.660 I hope it was worth it for the ministerial red box.

00:52:18.760 I hope it was worth it to sit around the cabinet table.

00:52:21.780 Because the damage they have done to our party is extraordinary.

00:52:27.660 I'm sorry, it's very difficult to convey.

00:52:29.100 You look just furious about this.

00:52:31.000 I am, I am, I've had enough, I've had enough of talentless people putting their tick in

00:52:37.700 the right box, not because it's in the national interest, but because it's in their own personal

00:52:43.420 interest to achieve ministerial position.

00:52:46.320 You're in Lourdes, are you working in Lourdes, is he correct?

00:52:50.620 Yeah, Charles Walker is a hero and he's shown that because his opposition to the COVID tyranny, 0.97

00:52:56.120 he was one of the few being elected 2005 and he's always been on the backbench, he's never

00:53:02.160 administered opposition, always been extremely vocal on freedoms, on rights, on liberties.

00:53:07.460 And he came to fore during the COVID tyranny. 0.93

00:53:11.240 He was one of maybe half a dozen MPs who spoke against it.

00:53:13.680 He is fearless and willing to speak out, but as I said, he's going to step down.

00:53:18.440 He's going to step down.

00:53:19.320 He's going to step down as an MP at the next election.

00:53:21.260 He's not going to stay on.

00:53:22.860 He's decided that his time is finished.

00:53:24.760 But he would have been a perfect addition to any government.

00:53:27.220 Around the cabinet table, he would have been absolutely brilliant.

00:53:29.520 New thinking, and he is a conservative.

00:53:32.020 Yeah.

00:53:33.140 Wow.

00:53:33.760 Great guy.

00:53:34.320 Okay, we're going to take a short commercial break.

00:53:35.980 90 seconds, we're going to be back.

00:53:37.060 We've got Cortez, we've got Ken Paxson, some bad stuff down in Plano, Texas.

00:53:40.920 Some lawsuits are going to start flying about these.

00:53:43.680 About this, the drag queen situation, right? 1.00

00:53:47.100 The drag queens for kids. 0.76

00:53:49.080 Not acceptable.

00:53:50.000 Ken Paxson is going to tell us why.

00:53:51.600 Steve Cortez, Peter's going to stick with us.

00:53:53.460 Try and get Nigel Farage.

00:53:54.460 Try and get Lawrence Fox, who's in that great Breitbart movie.

00:53:57.760 Breitbart's got that amazing film on Hunter Biden.

00:54:00.640 The second anniversary today of the intelligence guys coming out and saying,

00:54:05.200 oh, it's Russian disinformation.

00:54:07.420 All wrong.

00:54:08.660 Stick around in the war room.

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Bannon's War Room - October 20, 2022

Episode 2240： Liz Truss Steps Down As The Sharks Already Start To Circle; Thatcherism and Reaganism Has Died Today

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