On today's show, Steve talks about the ongoing saga in Arizona, the debt ceiling crisis, and why we should all be worried about the midterms. Plus, we have a special guest on the show to talk about China.
00:00:49.000It is Tuesday, 29 November, year of over 2022 is three weeks from the midterm elections.
00:00:56.000And we've got a lot of work to do because now there's a lot of converging forces still have this runoff in Georgia.
00:01:01.000You still have this massive situation in Arizona, which is not going to go away.
00:01:07.000There's so much going on behind the scenes, lawsuits, affidavits, all of it.
00:01:11.000What was proven yesterday in Maricopa County at that supervisor meeting, there is no doubt in anybody's mind this thing was stolen.
00:01:20.000You heard in the cold open or you heard in the cold open for Charlie Kirk that a supervisor in Mojave County said, hey, they threaten me with they threaten me with criminal charges if I didn't certify this.
00:01:31.000And Cochise, they're sitting there going, hey, tough.
00:01:34.000We need Katie Hobbs to come down and give a full presentation.
00:01:37.000And Elias, the evil genius of the big steal of 2020, has filed a lawsuit representing some group said, hey, the only presentation you supervisors are going to get is in a court of law.
00:01:48.000Now, this is the way the Democrats play smash mouth and we need to start playing smash mouth just the same way.
00:01:55.000OK, and this is why I think you have Mike Lindell running for RNC.
00:01:59.000The one thing I've got Ed Dowd on the really the economics of China, which is absolutely essential now to the global financial situation.
00:02:07.000He and his team have been doing great work.
00:02:09.000Dr. Bradley Thayer, who I think knows China as well as anybody, is on to talk to us about what's happening even the last 48 hours with Xi.
00:02:16.000But I want to go back to Cortez and with all that maelstrom, Steve, the people should these Democrats are so crafty and so cunning.
00:02:26.000What's going to go on here in the lame duck?
00:02:30.000They're going to try to structurally set it both with the debt ceiling to either remove it or lift it up so that more mass spending can take place, because that's how they run this thing.
00:02:40.000And all these bills, all these bills, you've got all their funding, all these NGOs, many of these NGOs are the ones that are out there causing trouble on election day, causing trouble with these elections.
00:02:53.000This thing is sick. You've got a an omnibus bill, which they want to pass now because the new Congress, when we control the House, will shut it down.
00:03:01.000It's going to have not just the three and a half trillion dollars of transfer payments of Social Security, Medicaid and Medicare, the three and a half trillion, which essentially is close to what all revenues and fees back to the U.S. government are.
00:03:13.000But it's anywhere from another trillion to a tree and a half to almost two trillion dollars of deficit spending, of which we're going to have to print money.
00:03:20.000Then you've got the NDA, the defense authorization.
00:03:23.000As you've gone through that defense authorization act, it's got all the wokeness that's led the military to collapse on recruiting and have no readiness in the South China Sea of the defense of Taiwan.
00:03:35.000It's got all that wokeness embedded in the bill.
00:03:38.000And that's just three of the big ones.
00:03:41.000There's so much more. Remember, Pelosi ain't coming back.
00:03:46.000And a lot of these were Democrat senators like Tester and Manchin and Sinema understand that in the run up to 2024, when they have, I think, of the 33 senators that are up in the cycle, 24 Democrats in a ton are from red states.
00:03:59.000They're going to have to heave, too. So this is and you got all the guys leaving.
00:04:03.000This is going to be an orgy of spending in malfeasance.
00:04:06.000So, Steve, your perspective on one of the big structuralists.
00:04:09.000I keep telling people, hey, don't give me the horse race in the Santa's versus Trump.
00:04:26.000Listen, the Democrats right now are trying in these coming days and weeks of this year, they're trying to set the table to effectively neuter the incoming House GOP.
00:04:38.000But I want to, again, implore the deplorables out there to stay at their political battle station.
00:04:43.000I know it's tempting to take the rest of the year off to focus on family and holidays and football and hunting and all these wonderful things.
00:04:50.000Well, the Democrats have extremely aggressive and devious plans.
00:04:54.000You know, in addition to some of the things you mentioned, we also mentioned earlier the attack on religious liberty, a potential amnesty for millions of illegals in this country, a potential attack on so-called assault weapons, on Second Amendment rights.
00:05:07.000So their agenda in these coming days is vast and it is significant.
00:05:11.000Now, it can be stopped, but it's going to take nerves of steel, particularly on the Senate side.
00:05:18.000So nobody should look away. Nobody should take time off.
00:05:21.000This is going to be a very intense period in these coming weeks.
00:05:25.000We can and should stop Nancy Pelosi, but we have to do so.
00:05:29.000The great news is we are taking the gavel away from her.
00:05:32.000But the bad news is, you know, sometimes when an actual star dies, Steve, it has a thing called a supernova where it explodes with a burst of energy that was greater than it ever had when it was alive.
00:05:41.000Well, that may be happening in the political sense with Pelosi.
00:05:44.000There's a political supernova that she is planning.
00:05:47.000We can stop it, but we have to stay engaged to do so.
00:05:51.000You know, Ralph Norman down in South Carolina said on this very show came and said, hey, here's the reason I'm a no and I'm a hard no McCarthy.
00:06:00.000He said in that in that conference, the closed conference where they had the talk in the debate, he said he asked McCarthy said, hey, the Republican study committee has come up.
00:06:10.000And these are the guys that kind of think through things for the conferences.
00:06:12.000So they've come up with a rough overall architecture for a budget that gets you to basically a balanced budget in seven years, takes you seven years to get there.
00:06:47.000And Norman said, given what he's seen being here in the spending and the out of control spending, that this is the one thing that has to stop.
00:06:55.000And he said, that's why I'm a hard no.
00:06:57.000I'm a hard no because we have to get somebody in there.
00:06:59.000This is what I want to make sure people understand is that this era of easy money that we have had the the the responsibility, but the benefits of being the prime reserve currency.
00:07:11.000OK, and the prime reserve currency means that every transaction in the world essentially to date, it has to be converted into dollars, whether you're doing a drug deal in Thailand or buying bonds for the little sisters of the poor in in California.
00:07:27.000Right. You convert into dollars to make sure those all those trades are done everywhere in the world, basically every transaction.
00:07:34.000And that makes the greatest export we've ever had is the U.S. dollar.
00:07:38.000That could be quickly coming to an end.
00:07:41.000The BRICS, what they call, you know, Brazil, Russia, India, China, the BRICS, the kind of the global south is now getting more people are signing on to it.
00:07:50.000The Middle East is signing on to looking to every alternative of a basket of currencies, you know, state sponsored crypto, you know, different types of Chinese backed by oil.
00:08:01.000Everything to get off the dollar this what's happening here.
00:08:06.000They're going to sit there and not even have an adult's conversation about this omnibus bill, which is another train or two train includes a trillion dollars defense spending, then 500 billion, maybe up to another 500 trillion dollars of discretionary spending because they haven't been forced like adults to have to make tough decisions.
00:08:26.000And this is the specter that hovers over us.
00:08:29.000When you've got the former economists at PIMCO, you've got every guy in the world.
00:08:33.000You've got everybody saying, hey, the era of modern monetary theory, fiscal dominance, where governments could just pass these spending bills.
00:08:43.000And and and not have to worry about the consequences of them because their central banks are kind of in unison printing money that is fueled this inflation.
00:08:51.000What you told you said at the beginning of the show, the Federal Reserve guy said, hey, note to self is not just 2023.
00:08:57.000This could go 2024 or longer for us to get down to our target inflation rate.
00:09:03.000Do people understand the scale of the problem we have in front of us, particularly they're going to be up there.
00:09:08.000They're going to want to raise that ceiling, pass this omnibus bill and continue on trillions of dollars every year in deficit spending.
00:09:23.000Do regular Americans on Main Street understand it?
00:09:26.000Yes, they certainly do because they are living it right now in their their reality, in their lives, regarding their checking accounts, regarding their confidence.
00:09:33.000And I would give evidence of consumer confidence at an all time low post World War Two low.
00:09:39.000So regular people know the consequences of Biden's inflation combined with Biden's recession.
00:09:44.000They understand, you know, they don't watch global bog markets.
00:09:47.000They don't use a phrase like an inverted yield curve.
00:09:49.000They understand what is going on right now.
00:09:51.000People in Washington, D.C. are still living right now, unfortunately, in a beltway bubble.
00:10:31.000There's no doubt about whether or not that's gone.
00:10:33.000Again, only look at the yield curve to know that.
00:10:35.000So these these twin forces and a loss of these twin privileges combined means that suddenly Washington, D.C.
00:10:43.000has to make hard decisions that it has punted on for many, many years.
00:10:47.000And the Democrats are taking the exact opposite approach in these coming weeks.
00:10:51.000Again, trying to use these closing days as a flurry of exit activity to effectively neuter the incoming U.S.
00:10:59.000House that is Republican dominated and led.
00:11:01.000And we cannot allow it to happen again.
00:11:03.000We have the numbers to stop it if we have the will to stop it in these coming weeks.
00:11:08.000And neither those lawmakers nor the deplorables can take the rest of the year off.
00:11:13.000This is still very serious go time into Christmas.
00:11:17.000One last thing I need you to comment on is you had mentioned I had it on my punch list, but something that is absolutely we have to stop.
00:11:25.000And that is the amnesty. Remember, Schumer, not Tucker Carlson, not the war.
00:11:29.000Schumer walked you through the replacement theory, right?
00:11:32.000He gives a conference and say, hey, no, he walked you through it.
00:11:34.000We're not we're you're not we're not, you know, having enough birds.
00:11:38.000You're not replicating enough. We need we need a massive influx of foreigners.
00:11:42.000They're talking the amnesty, everything from 11 million plus amnesty for the illegal aliens to DACA and maybe even take care of the of the five million that come in on his watch to take care of that.
00:11:55.000This thing is is a front burner. Hopefully only the Senate, you know, put the fear of God into mansion.
00:12:01.000And so they can't Republicans. So they can't get to 60.
00:12:04.000How big a deal is this is amnesty in this in the lame duck?
00:12:09.000Oh, listen, if it were to pass and I don't think it will.
00:12:12.000But again, we can't rest. If it were to pass, it would change the United States in consequential ways for decades.
00:12:17.000I'm not sure we could ever recover, frankly, as a country, because, of course, we know it's not 11 million illegals.
00:12:22.000It is two to three, maybe even four times that much, according to credible studies from Ivy League institutions, not from right wing think tanks.
00:12:29.000And the reality is right now in the United States, we have 19 consecutive months of declining real wages for American citizens, meaning pay adjusted for the things that they need to buy in their lives.
00:12:39.00019 straight months. It's the worst stretch in American history at a time like that.
00:12:45.000The idea that we would invite and then legalize millions of illegals to compete in the labor market against the citizens of this country is absolute insanity,
00:12:55.000is a complete surrender of sovereignty of the United States, and it cannot be allowed to happen.
00:13:01.000And by the way, you're exactly right. Chuck Schumer, who, as part of the left for years, has been denigrating those of us on the right to say, oh, this replacement theory is an invention from some fever swamp of the right.
00:13:12.000And then he proceeded to exactly lay out the replacement theory and said, yes, we 100 percent are going to replace you with illegal migrants.
00:13:19.000So cognitive dissonance. But nevertheless, again, stay the course, focus.
00:13:24.000We can defeat all of these measures in this lame duck session. And then we have the speakership and we have power starting in January.
00:13:30.000Steve, how do people get to all your live streams, your sub stack, all of it?
00:13:35.000Yeah, please follow me on the Twitter. I'm at Cortez Steve, Cortez with an S, best places on Getter, the free speech platform.
00:13:42.000I'm simply at Steve and it links to my new sub stack article on indulgences. The big business is paying to the left. Please have a look.
00:13:49.000How did you get at Steve? I'm like a Grundoon. Cortez is like House of Lords and Getter. I'm House of Commons.
00:13:57.000Yeah. You know, listen, you've got to be a baller. I mean, to just get the single name address is obvious.
00:14:04.000It's just big. I tell you, you've arrived. Steve Cortez, thank you so much for spending time with us today.
00:14:09.000Thank you, sir. OK, Arizona. We're going to talk a little bit about Georgia.
00:14:14.000We're going to get down to China, the economy, the real economy of China.
00:14:20.000What's happening, how it's interlinked with us, how this thing could implode at any time.
00:14:24.000And then Dr. Bradley Thayer is going to talk to us about what's going on, what she's doing.
00:14:29.000Is there any threat to Taiwan? What's happening in mainland China to the Lao Beijing, these great patriots, these heroes that have stood up in the French concessions, Shanghai, downtown Beijing, throughout the mainland.
00:14:41.000All next. Two experts on China. Join us. We're going to talk more about Arizona. All next in the war.
00:14:48.000Let's take down the CCP. Spread the word all through Hong Kong. We will fight till they're all gone. We rejoice when there's no more. Let's take down the CCP.
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00:17:48.580Trying to get Herschel on here someday this week to actually go through, not his, we know his campaign, we know his policies, knows what he supports, but actually what's going to happen in, what's going to happen and where he needs help.
00:18:02.060Ed, I want to go through, first off, I want to set the global context for people for 23 and why this, why the lame duck is so important.
00:18:10.560You and your other econometrics people have been forecasting a recession, and quite frankly, a deep recession, towards the end of the first quarter, maybe into the second quarter of next year.
00:18:23.940And I think that was even before these perturbations in China, which people in this audience, because they know how close we cover Lao Baixing in China, know about the experts we bring on here.
00:18:38.180We're probably bringing on more expertise about China than any combination of shows around.
00:28:38.820I know this from sources I have that Juan Xishan, really one of the number two or three hatchet men for Xi, has been deeply concerned, Dr. Thayer, about what they call the legitimacy of the regime.
00:28:50.100The legitimacy of the regime as they pass down power, as they move to evolve in this kind of economic compact they've made with the Chinese people.
00:29:29.000They've involved working class people, middle class people, intelligentsia students, which is quite noticeable.
00:29:35.680The party is doing what was inevitable, which is cracking down, but we don't want to detract from the heroism of those people who've participated because they know that they exist in a one-party state, and that state has formidable capabilities to target dissidents and to punish them.
00:29:56.660So each one of these individuals is incredibly brave for undertaking these actions when they know that with CCTV, with the surveillance software that they have, which is almost omnipresent, they're going to be identified and they're going to be punished.
00:30:14.860Their families are going to be punished, and their opportunities at a minimum are going to be a forfeit.
00:30:22.660So each one of these individuals is incredibly brave in undertaking these actions.
00:30:28.400What we're seeing is what we would expect to see, which is the party is disciplining and reasserting control over these protests.
00:30:38.820We want to keep in mind, though, that these protests are going to be iterative.
00:30:43.020As COVID lockdown protests, economic disruptions, economic difficulties, and other measures occur in the future, Steve, so we want to recognize what did the protests reveal?
00:30:55.760Well, lots of things, but one of which is the power of these individuals and how people can come together from different classes, from different backgrounds, et cetera, to conduct that protest.
00:31:09.460The parties noticed that as well, obviously, and is going to do their utmost to ensure that doesn't happen.
00:31:15.220With respect to COVID, well, what is the COVID lockdown?
00:31:18.760We want to keep in mind, of course, the political component of this.
00:31:24.020This is Xi Jinping controlling the Chinese Communist Party.
00:31:27.460And he's going to ensure that his rule and the rule of the Chinese Communist Party is not threatened, either internationally or domestically.
00:31:40.060So the crackdowns of COVID, of course, there's the excuse of the pandemic, but it's also about disciplining.
00:31:47.640It's about getting rid of his enemies throughout the party, as well as within the society.
00:31:52.880And it's about ensuring that there's a deterrent component, that if you are going to stand up against the CCP, there are going to be massive consequences arrayed against you.
00:32:05.140So this is an internal struggle that we're witnessing, and we should expect it to occur in multiple forms and to occur in the future.
00:32:12.600It's not going to go away, the test between the party, Xi Jinping, and the Communist Party versus the Chinese people.
00:32:21.720And so that has been a remarkable event and stunning, of course, the world.
00:32:30.980Tiananmen, what we know is Tiananmen Square built up over seven or eight weeks, right?
00:32:35.680And then as soon as Lady Liberty, hey, as soon as Lady Liberty appeared in Tiananmen itself, in front of the Great Hall of the people, it took a different turn.
00:32:47.160In the West, Scarcroft, Bush 41 in the West bailed out Deng Xiaoping and these guys.
00:32:52.300Came in and told them, hey, we'll make everything right with the global compact, and you're going to become our manufacturing partner.
00:32:58.360If you look today at that apple plant, that is the culmination of the World Trade Organization, the most favored nation.
00:33:06.840This is the West shipping the jobs from Ohio, from Wisconsin, Pennsylvania, from the great industrial heartland of our nation to China to slave labor camps.
00:33:20.500And the people saying, hey, we can't do this.
00:33:23.980That Biden and these guys came out with these sayings, these tweets, and these formal sayings that almost imply they're backing Xi.
00:33:37.500So the bravery of this multi-class, you have workers, you have intelligentsia, you have middle class, you have the professional class.
00:33:44.720How can they sit there and know that there's no cavalry that's going to come and save them?
00:33:51.800As much as the war room and others, the new federal state and these other groups here in the West support Lao Baijing and support them.
00:33:59.380When they see the powers that be in the West, it's going to be a replay of Tiananmen Square.
00:34:03.460How can these heroes, given what we saw in Hong Kong, given what we saw, those brave students in Hong Kong, many of whom are in prisons today, Dr. Thayer?
00:34:17.700These individuals, again, are incredible.
00:34:21.360They're heroic in what they're accomplishing and the risks that they're running.
00:34:26.680And it's very important for the audience to appreciate that.
00:34:30.240They're living, again, in a totalitarian country that's a surveillance state.
00:34:35.380And that state has the power to reach out and adversely affect them and their families.
00:34:41.540And yet they're still conducting it with, again, as you observed, right, very importantly, the Biden administration is not going to help them.
00:34:51.500Human rights organizations are not going to help them.
00:34:54.080But they're nonetheless doing this on their own with very modest support from the Chinese diaspora and obviously abroad.
00:35:04.680So we have to appreciate that heroism.
00:35:07.700And we also have to appreciate their steadfastness, that they know the party's coming after them.
00:35:14.080And maybe the party has won a tactical victory today and in the days to come.
00:35:21.520But there are going to be other crises.
00:35:23.540Ed Dow did a great job of illuminating economic problems in China, right?
00:35:27.740So there are going to be future COVID policies that are going to continue and are still going to generate resentment.
00:35:34.520There's going to be economic downturns.
00:35:36.220There could be international crises that reverberate on China.
00:35:40.180So these protests are going to come back.
00:35:42.440And you're right to recognize that Tiananmen, the weeks leading up to Tiananmen, but we also want to appreciate that the Tiananmen protests have their antecedents in 1987.
00:35:51.960With really the rise of student-led pro-democracy movement that was supported by some members of the Chinese Politburo at that time.
00:36:00.960And so what happened in 1989, the Tiananmen Square Massacre, really was also a deeper phenomenon that had precedents.
00:36:11.840And so what we should anticipate is that even though they may have suffered a tactical setback presently, in the future, in the months, in the years to come, this movement is going to come back with a vengeance.
00:36:24.740And it's a very significant threat to Xi Jinping's rule and to the Chinese Communist Party.
00:36:49.360They have actually arguably more powerful, more central power than even Mao Zedong, okay, and obviously a much more powerful state, supported by Western partners, by Western capital, by the Western hedge funds, by the Western global corporations.
00:37:53.460I would actually argue, as much as my heart went out, we supported the students in Hong Kong as brave as they were.
00:37:59.120These are even braver because this is a brutal totalitarian state.
00:38:03.640And when you talk about a surveillance state, they know every second of every move that you make, and they know where your family is.
00:38:10.640And you are seeing heroes that understand by them standing up with the blank white paper and those being out there, when they're recognized or when they're dragged away by the police and they've got the police up there, that it's lights out.
00:38:26.200That's the heroism that you're seeing in the streets.
00:38:28.440You want to talk about heroism and being motivated?
00:38:51.680What Biden did was really the worst that could be done.
00:38:56.260These events require a presidential address at a minimum.
00:38:58.860He should have been on TV supporting these individuals and every aspect of his administration, every department, every agency should be in lockstep supporting them.
00:39:10.440And what you saw with the NSC and Kirby was worse than a failure, right?
00:39:18.380Again, this takes place in the Cold War context.
00:39:22.280There's an ideological warfare component here.
00:39:25.200And by not taking advantage, the Biden administration not taking advantage of the opportunity given to the Biden administration to draw the contrasts between the CCP and its tyranny and how it oppresses the Chinese people.
00:39:39.580And the opportunities and the advantages of the Western system, of the free world, was a tremendous mistake.
00:39:49.660There is the need to take advantage of this opportunity.
00:39:58.680And they're doing that intentionally, right?
00:40:01.000That's the effort to essentially not, as they say, not provoke China, not criticize Xi Jinping.
00:40:07.460But the problems are deeper than that in the Biden administration and in the West, as you observed, in the financial markets, media, Congress, et cetera.
00:40:17.200You've very well focused, of course, on elite capture and the problem generated by elite capture and the consequences of it.
00:40:26.300The Chinese people are paying the price as the American people are in a different context.
00:40:30.560But right now, these protesters are paying that terrific price.
00:40:35.660And they're going to pay a terrific price.
00:40:36.840But hey, this audience, the reason I'm doing this, if you don't think you're not going to pay a huge price for this, we've got Dowd and Thayer when we come back.
00:40:44.300OK, the 1930s, in hindsight, was called the Dark Valley, called the Dark Valley for a reason.
00:40:51.480We're going through starting the journey through the Dark Valley.