Bannon's War Room - December 30, 2022


Episode 2408： The Battle For Head Of The RNC Before The New Year


Episode Stats

Length

58 minutes

Words per Minute

193.12642

Word Count

11,265

Sentence Count

978

Misogynist Sentences

30

Hate Speech Sentences

9


Summary

On today's show, Stephen K. Bannon is joined by Grant Stinchfield, Anna Paulina Luna, DC Drano, and Steve C. Cortez to discuss all the latest in politics, the economy, capital markets, and the stock market.


Transcript

00:00:01.000 This is the primal scream of a dying regime.
00:00:06.000 Pray for our enemies.
00:00:08.000 Because we're going medieval on these people.
00:00:11.000 You're just not going to free shot all these networks lying about the people.
00:00:15.000 The people have had a belly full of it.
00:00:17.000 I know you don't like hearing that.
00:00:19.000 I know you've tried to do everything in the world to stop that, but you're not going to stop it.
00:00:21.000 It's going to happen.
00:00:23.000 And where do people like that go to share the big line?
00:00:26.000 Mega Media.
00:00:27.000 I wish in my soul, I wish that any of these people had a conscience.
00:00:32.000 Ask yourself, what is my task and what is my purpose?
00:00:36.000 If that answer is to save my country, this country will be saved.
00:00:43.000 War Room. Here's your host, Stephen K. Bannon.
00:00:49.000 It's Friday 30, December in the year of our Lord.
00:00:52.000 2022 is the last trading day of the year.
00:00:54.000 Okay, we've got a lot going on.
00:00:56.000 The leading analyst of capital markets and interest rate central banks at Credit Suisse has put out an amazing piece.
00:01:03.000 It's up on Zero Hedge and other places about the end of the U.S. dollar, that the dusk of the petrodollar and the dawn of what they call the petro RMB or the petro yuan.
00:01:17.000 We're going to get to all that.
00:01:18.000 Steve Cortez is going to join us at the bottom of the hour, talk about an assessment and analysis of 2022 as a year for the economy, a year for capital markets and a look ahead.
00:01:29.000 Also, Axios, a bunch of pieces out about the demographics of shifting population trends in the United States.
00:01:36.000 And really, Axios got a big piece up about, hey, wait for it.
00:01:39.000 If your War Room audience, the posse, the cadre, you know, we've talked about this a long time.
00:01:44.000 Battleground states of Ohio, Florida, now Texas are kind of off of the map.
00:01:49.000 It's really down to, in order, wait for it, Arizona, Georgia, Wisconsin, and Pennsylvania.
00:01:54.000 We're going to have Grant Stinchfield join us.
00:01:57.000 We've got some fire breathers on today.
00:01:58.000 Grant's with us.
00:01:59.000 We've got Matt Gates.
00:02:00.000 We've got Anna Paulina Luna.
00:02:03.000 We have DC Drano, Rogan O'Hanley.
00:02:06.000 Mike Lindell is going to join us later.
00:02:08.000 Cortez, we're packed, jammed up here.
00:02:11.000 But I want to start with Caroline Wren.
00:02:14.000 Caroline, and this is not just the lead story in The Hill today is about Cary Lake.
00:02:19.000 Really, the lead story in Axios about Arizona is about Cary Lake.
00:02:23.000 I want to get to Cary Lake and the whole situation in a second, because there's a number of things going on.
00:02:28.000 Cary Lake's got an appeal in Arizona, which is clearly a stolen election.
00:02:33.000 You just had the Abe Hamaday.
00:02:35.000 I think Abe Hamaday's down to 200 votes right now, and they only let one county kind of even start to look.
00:02:41.000 It's a complete fiasco.
00:02:42.000 So you've got Arizona power politics still going on.
00:02:46.000 You have, and we'll get into this with Grant also, you've got this really Shakespearean battle going on on Capitol Hill about the speakership.
00:02:57.000 And you've got the RNC's chairmanship going on.
00:03:00.000 And behind the scenes, I'm telling people, they're already knives drawn on the debt ceiling, because I understand that's really our big hunk of leverage.
00:03:07.000 That's our real leverage.
00:03:08.000 Cortez will talk about that.
00:03:09.000 Let's go to you.
00:03:10.000 First off, the RNC of it all.
00:03:13.000 Where do we actually stand on that?
00:03:15.000 I mean, Ron McDaniel took some incoming about spending, about focus, about having people's back.
00:03:21.000 Harmeet came out.
00:03:22.000 Mike Liddell came out.
00:03:24.000 A number of delegations looked like they flipped Nebraska, Texas.
00:03:27.000 People come in and say, I just can't do this anymore.
00:03:30.000 It's been a little behind the scenes.
00:03:32.000 I know it's been active, but the media has been a little slow over the holidays.
00:03:36.000 Get us up to speed on what's happening, ma'am.
00:03:39.000 Gosh, the race is heating up.
00:03:41.000 And I love the lineup of guests that you just said.
00:03:43.000 Every single one of them has endorsed.
00:03:45.000 Harmeet Dillon or the wonderful Mike Liddell.
00:03:47.000 And so that's a great lineup of guests you have.
00:03:49.000 Anna Paulina Luna just released an amazing endorsement, as did Matt Gates in support of Harmeet.
00:03:53.000 There's a big battle going on in Florida.
00:03:55.000 So we feel really good.
00:03:57.000 I would say, you know, again, it's just 168 people that get to vote.
00:04:00.000 And the grassroots has stepped up so amazingly.
00:04:03.000 Scott Pressel and others have led an effort to be contacting their 168 members.
00:04:07.000 I would say over the holidays, we've been a little dark.
00:04:09.000 Harmeet's been flying around a meeting actually with these members and picking up votes constantly.
00:04:13.000 So I would argue that we're in the high 50s, low 60s, and we've dropped Rana below that 84 threshold.
00:04:19.000 So that is incredibly important.
00:04:20.000 This is a tight race.
00:04:21.000 Whoa, whoa, whoa, whoa, whoa, whoa, whoa, whoa.
00:04:23.000 Don't bury the lead.
00:04:25.000 Are you telling our audience right now that Rana McDaniel is below a first round win, first ballot win?
00:04:32.000 That's correct.
00:04:33.000 She's below 84?
00:04:34.000 That's correct.
00:04:35.000 Hang on.
00:04:36.000 Whoa, whoa, whoa.
00:04:37.000 She's below 84 now.
00:04:38.000 She will not win on the first ballot.
00:04:40.000 That's correct.
00:04:42.000 Is there any possibility then, can she be RNC chair if she can't win on the first ballot?
00:04:47.000 It's kind of like McCrard.
00:04:48.000 They've got to do one and done, right?
00:04:49.000 Of course it's a possibility.
00:04:51.000 The thing about the people in leadership is they like to rig systems to make sure that they can be able to win.
00:04:56.000 Look what McConnell did in Alaska when he rigged and added in ranked choice voting so there was no way that, you know, Lisa Murkowski have an opponent.
00:05:03.000 That's what we're seeing happen right now in this race.
00:05:05.000 And because the RNC, that Rana's team is panicked because they know how much we're picking up steam.
00:05:10.000 So Florida was a great example.
00:05:11.000 I talked about this last time about they actually changed the rules so the election was supposed to be in mid-January for a new chair.
00:05:17.000 And instead they went and pushed it back.
00:05:19.000 So now it's on February 2nd or 3rd.
00:05:21.000 The RNC votes on 27th.
00:05:23.000 Well, the current Florida GOP chair has endorsed Rana.
00:05:27.000 The two people running to be Florida GOP chair have endorsed her meet.
00:05:31.000 So that's one where we, you know, they can go in and change rules where we have to actually play by the games and we're just using the grassroots to be our voice and help us.
00:05:39.000 But that is the type of games that they're playing behind the scenes that we have to have to deal with.
00:05:44.000 It is a secret ballot.
00:05:45.000 I actually think that ends up helping us.
00:05:47.000 And one kind of fun thing that happened.
00:05:48.000 So this will be some you should probably come out.
00:05:51.000 But the vote happens on January 27th at Dana Point, California, which is a separate.
00:05:56.000 Why are we spending our money in California from Republican donors?
00:05:59.000 I don't know.
00:06:00.000 But that was Rana's decision.
00:06:01.000 But there's a lot of fun people who are registered to be there on the floor whipping votes, including John Rich, who's come out and endorsed her meet.
00:06:07.000 You've got Charlie Kirk coming out.
00:06:08.000 You've got Carrie Lake coming out to whip votes on the floor.
00:06:10.000 These are all people registered guests to be at the RNC meeting to be whipping votes.
00:06:14.000 Mercedes Schlapp.
00:06:15.000 So I think it's going to be pretty explosive there on the floor.
00:06:17.000 It's going to be a fun, fun week to travel.
00:06:19.000 But we still have, you know, we have, I guess, 29 days at this point, which is actually a lifetime in this race.
00:06:24.000 People are flipping back and forth.
00:06:26.000 So they need to keep hearing from their constituents.
00:06:28.000 And we're doing what we can to run these separate races.
00:06:30.000 Ohio has a GOP race.
00:06:32.000 This is very important on January 6th.
00:06:34.000 So whoever the next Ohio GOP chair is will be able to vote in this RNC race.
00:06:39.000 So we're working to do outreach to them today to find out a very simple question.
00:06:42.000 Do you plan to vote for Ron McDaniel for reelection again?
00:06:45.000 Yes or no.
00:06:46.000 And if the answer is no, do you plan to support Harmeet or Mike Lindell?
00:06:49.000 If the answer is yes to that, in my mind, that's who should be your next Ohio GOP chair.
00:06:53.000 So we're going to be putting up a list of who those voting members are on the Hire Harmeet website.
00:06:59.000 So look out for that.
00:07:00.000 If you're in Ohio, you can contact your members.
00:07:02.000 We need that done.
00:07:03.000 This is going to come down to every single vote.
00:07:05.000 It is very tight.
00:07:07.000 But you're saying right now, when you talk about flip-flopping back and forth, people have obligated on that list of 100 have flipped to you, but then it flipped back.
00:07:15.000 Because deals are being made, you guys have nothing to offer except your integrity and your fight and your integrity and your fight.
00:07:24.000 There may be a couple, three other goodies that the people controlling the apparatus can hand out.
00:07:30.000 So when you say flip-flopping back and forth, what do you mean?
00:07:33.000 Well, some of those, the list of like 107 are on release.
00:07:36.000 A lot of them weren't even real.
00:07:37.000 For example, Bob Paduchik was on that list.
00:07:39.000 Bob Paduchik, great guy, is the chair of the Ohio GOP.
00:07:42.000 He will not be the chair of the Ohio GOP on January 27th when this vote happens.
00:07:47.000 There is an election happening right now in Ohio.
00:07:49.000 So a lot of the ones that they put out, I'm like, that person can't even vote.
00:07:53.000 This is strange.
00:07:54.000 Same with Wisconsin.
00:07:55.000 Wisconsin just got a new chair, Brian Schwimming.
00:07:57.000 I don't know him yet, but he wrote an incredible piece that I'll send over to Steve to put up about how we need to start chasing ballots more than votes.
00:08:05.000 And it seems like a very, very smart guy, which is going to be important, obviously, in Wisconsin.
00:08:09.000 In Nevada, too, they released the whole Nevada delegation that were supportive of her.
00:08:14.000 Well, in fact, you just saw Michelle Fiore, the National Committee woman, step down.
00:08:17.000 She got a great new position.
00:08:19.000 So Seagal Chata is running there.
00:08:20.000 Seagal has endorsed her meet.
00:08:21.000 You've had Seagal on the show a couple of times.
00:08:23.000 So there's things like that happening.
00:08:24.000 And then you've had others flip.
00:08:25.000 For example, the Nebraska GOP chair is one we've mentioned.
00:08:27.000 Some are keeping tighter of the vest.
00:08:29.000 We're not doing the game that Rana is of just releasing names.
00:08:31.000 We've actually talked to a lot of members who have said, I never even agreed to be on Rana's list.
00:08:35.000 I didn't know I was on this list until you showed it to me.
00:08:37.000 Others said she was the only one in the race.
00:08:39.000 And so that's the only reason I did it.
00:08:40.000 I'm glad to see there's a competitor.
00:08:42.000 So this thing is still very, very much alive.
00:08:45.000 What is this brawl that's going down in Florida?
00:08:48.000 You would think that of all the other problems we have, Florida is the least of them.
00:08:52.000 Why is there an issue in Florida where DeSantis just won by 20 points?
00:08:56.000 The issue in Florida is that we feel like the vote is being stolen from the people of Florida.
00:09:02.000 The executive committee that you're supposed to, when you're a RNC 168 member, like the state chair and the two committee members, you're supposed to represent the voices of your voters in your primary electorate.
00:09:11.000 It doesn't matter if you're a Trump supporter, a DeSantis supporter, a Chris Christie supporter.
00:09:17.000 Unanimously, they are against Rana.
00:09:19.000 The job of the RNC party chair is to unite Republicans.
00:09:22.000 So I must commend Rana on her ability to unite all factions of Republicans against her candidacy.
00:09:27.000 She's been very good at that.
00:09:28.000 So what is frustrating in Florida is that you have two people who are actually going to, one of these two people are going to be the Florida GOP chair.
00:09:35.000 Their job over the next two years will be to run the party and work with the National Republican Party.
00:09:39.000 Both of them have endorsed Harmeet, but they pushed the vote back.
00:09:42.000 So now the current Florida GOP chair, Joe Reuters, is saying he is with Rana 100%.
00:09:47.000 He doesn't care what anyone in Florida says, and he's leaving office anyway, so too bad.
00:09:52.000 And to me, that is a horrible attitude to have.
00:09:56.000 It is very upsetting.
00:09:57.000 The people of Florida are very upset.
00:09:59.000 And so Matt Gaetz and others actually organized a meeting in Florida that's happening on January 20th,
00:10:04.000 and the whole executive committee is being summoned to Sarasota to meet and vote no confidence in Rana McDaniel
00:10:10.000 and to demand that Joe Reuters do the right thing and vote for Harmeet Dillon,
00:10:15.000 which is also the vote of the future chair of that state since he won't even be in office.
00:10:19.000 So that's why we think it's pretty frustrating, and that's why we're fighting very hard there.
00:10:24.000 If it's obvious that she's, and you're saying, you're breaking news here that she's under the 84 right now,
00:10:30.000 which is pretty historic and massive given the time, the limited time that's going on.
00:10:37.000 But if they don't think that she can win on the first ballot, I think Reince went to seven ballots.
00:10:42.000 Right.
00:10:43.000 Aren't they, if it becomes evident that you guys, you and Lindell and Harmeet and all of them
00:10:47.000 are having an impact, isn't what they're going to do is just sit there and come up with a,
00:10:52.000 oh, Rana's got problems, but we go to XYZ, who's some Bush apparatchik.
00:10:58.000 And what they do is they rally around that and he'll have no blood on his hands, ma'am.
00:11:02.000 That is something that we've been watching and worried about.
00:11:05.000 And I feel like that wouldn't be something, I don't know if that would happen on the floor.
00:11:08.000 I feel like it might happen a couple of weeks before because one of the 168 members sent what I thought was a very disturbing email to the chain saying,
00:11:14.000 you know, why is Harmeet doing this?
00:11:16.000 She's going out and talking about negative things about the party.
00:11:19.000 She should step aside and step down.
00:11:21.000 What is her end game?
00:11:22.000 And her end game, obviously, is to win this election and to run the RNC and have it win elections again.
00:11:29.000 But I would have to ask the same question of Rana.
00:11:31.000 Right now, you know, she did a good job.
00:11:34.000 She's a nice person.
00:11:35.000 She did a good job.
00:11:36.000 But it's been, you know, five years that she's been in there.
00:11:38.000 We've lost four consecutive, if you call it the off year, elections.
00:11:42.000 And it's time for her to step aside and for her to do the right thing.
00:11:45.000 But even if she doesn't, let's say she wins this.
00:11:47.000 I continue to ask, what is her end game?
00:11:49.000 Because right now the grassroots are so upset with her.
00:11:52.000 How does she go open a community center in Cleveland, Ohio?
00:11:55.000 People are going to, but the grassroots are not going to show up and come to support that.
00:11:59.000 Yeah, but they don't care.
00:12:00.000 Okay, but let's be blunt.
00:12:01.000 Let's be blunt.
00:12:02.000 They don't care about the grassroots.
00:12:03.000 They could care less.
00:12:04.000 They care about the donors.
00:12:05.000 And your assessment, since you've been kind of one of the biggest donor wranglers, I would call it, for the Trump movement and the Mar-a-Lago set.
00:12:13.000 Yeah.
00:12:14.000 What is your assessment of the, where are the donors, where's the money going to come down on this thing?
00:12:18.000 The money, the money people are very frustrated with giving to the party as they should be.
00:12:22.000 And a lot of them have stopped giving since 2020.
00:12:25.000 But more importantly, I think more and more donors are starting to realize that the money game should not just be in party committees.
00:12:30.000 And this is why I really love Harmeet.
00:12:31.000 I've been talking about this for two years.
00:12:32.000 I've gone on your show a few times in the past to talk about it.
00:12:35.000 Republicans fund super PACs and party committees.
00:12:38.000 Democrats fund 501c3s, for-profit entities, and C4s.
00:12:41.000 We are playing two totally different games.
00:12:43.000 The Democrats have literally waged a war against us through public-private partnerships.
00:12:47.000 And we're sitting here funding these party committees.
00:12:49.000 And there's only limitations as to what they can actually do.
00:12:51.000 So something I found fascinating when I was talking to Harmeet about this problem is what she wants to do is not only decentralize the RNC, but decentralize the money.
00:12:58.000 We've taken tons and tons of money at the RNC for ridiculous things like the building fund and these convention funds and parties and games.
00:13:06.000 Instead, we want to look to set up something that would be almost like an angel investor type of group where if you come and you say, I want to give $100,000 to the Republican Party.
00:13:13.000 Great.
00:13:14.000 Well, maybe we only need 50,000 of that to go to the RNC, set the other part aside, and we set up almost like a shark tank is what we've talked about for donors to come and let people pitch.
00:13:21.000 Imagine if Scott Pressler was able to come in front of 10 Republican donors and say, I have this idea.
00:13:26.000 I think I'd be able to register X amount of voters.
00:13:28.000 And then we have some donors who have set aside their funds and say, I love that.
00:13:31.000 That's a great idea, matching each other's donations.
00:13:34.000 If we were able to come, Steven Stern comes on and says, I've got a precinct strategy idea, but I'm going to need another $273,000 to fully fund this.
00:13:41.000 Well, great.
00:13:42.000 As a party chair, you don't just have to hoard the money in your own party committee.
00:13:45.000 That's not how the Democrats do it.
00:13:47.000 We should go out to these donors and say, hey, we were just told about a really, really strong idea.
00:13:51.000 We don't think this is something that the RNC necessarily has the capacity or should be doing.
00:13:55.000 However, we do think it is a fabulous idea that could help us win elections.
00:13:58.000 Would you be interested in going to fund it?
00:14:00.000 And to me, that is why I was so loved when I talked to Harmeet.
00:14:04.000 She told me she wanted to do this job because that is how we need to look at our funding.
00:14:07.000 That's how the donors want to start looking.
00:14:08.000 They're very disenfranchised with the party right now.
00:14:11.000 Okay.
00:14:12.000 Boy, if the donors are disenfranchised, the grassroots is disenfranchised.
00:14:15.000 Who's actually enfranchised?
00:14:16.000 Okay, hang on.
00:14:17.000 The whole Fox News lineup has also asked for Rana to resign.
00:14:20.000 So, every conservative and media.
00:14:22.000 When you blast the media, the donors, and the grassroots, I'm confused who it is that you have.
00:14:26.000 When you lose Fox primetime, it's kind of hard to run.
00:14:29.000 Will the lack of a red wave during the midterms lead to a more emboldened Biden?
00:14:34.000 More wasteful government spending, higher taxes, a deepening of inflation?
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00:17:02.000 Your host, Stephen K. Bannon.
00:17:05.000 Okay.
00:17:06.000 Welcome back.
00:17:07.000 By the way, our lineup today, we've got Cortez is on deck.
00:17:12.000 I got Gates.
00:17:13.000 I got Anna Polina Luna.
00:17:14.000 And baby, she is a fire breather.
00:17:17.000 She hasn't taken her oath and she's lighting them up all over.
00:17:20.000 We've got D.C. Drano.
00:17:23.000 He's on fire about this Pelosi situation.
00:17:25.000 Colonel Mills is going to join us on some intelligence situations with Facebook and with Twitter.
00:17:31.000 So we're rolling this morning.
00:17:33.000 I want to go to Grant right now, Stinchfield.
00:17:39.000 Grant, give me your assessment of this RNC.
00:17:41.000 Caroline's going to hang for a few minutes.
00:17:43.000 Give me your assessment of her analysis of the RNC and the way you've seen it.
00:17:47.000 Because I know you have some very well-developed thoughts on this issue, sir.
00:17:54.000 Well, you know, look, Steve, it's not that complicated.
00:17:56.000 I'm tired of losing, right?
00:17:58.000 And I'm fed up with losing.
00:17:59.000 And so everybody that's been in power has been a bunch of losers as far as I can see.
00:18:04.000 You know, they were fighting when President Trump was in office.
00:18:06.000 He, like, gave us a boost.
00:18:08.000 And we had some fighters around that President Trump was giving them backing to fight.
00:18:13.000 And as soon as he leaves, like, everybody goes back to their spineless amoeba state.
00:18:18.000 And you want to talk about a war within the Republican Party.
00:18:22.000 Look, we can't afford any third party nonsense.
00:18:24.000 I don't want people talking about this.
00:18:25.000 All we need to do is take our party back so then we can start the process of taking our country back.
00:18:32.000 And that's what needs to happen.
00:18:34.000 And so, Rona McDaniel, I am with Caroline.
00:18:37.000 She's a nice lady.
00:18:38.000 But I don't need nice right now.
00:18:40.000 I need winners and I need fighters and I need people willing to go out there and fight these battles in the courtroom.
00:18:45.000 Harmeet Dillon, look, she's a whiz.
00:18:47.000 I get that Harmeet Dillon is not lighting the place on fire with personality and brimming with screaming and yelling.
00:18:54.000 But she knows how to fight.
00:18:56.000 She knows how to win in the courtroom.
00:18:58.000 The Republicans, Steve, were asleep with the wheel.
00:19:01.000 Not just this election, but the last election as well.
00:19:04.000 They had two years to prepare for this.
00:19:06.000 And they failed.
00:19:07.000 And this is basically mimicking what's going on in the House.
00:19:10.000 I know we're going to talk about this with the speaker's race as well.
00:19:13.000 So I am in touch with the grassroots.
00:19:16.000 Quite frankly, Steve, I don't give a rat's ass about the establishment in Washington.
00:19:20.000 I don't give a rat's ass about about Republican Party headquarters.
00:19:24.000 What I give a rat's ass about are the people that are hungry to have a country back that they love living in.
00:19:31.000 Right now we are under the thumb of not just the Democrats, but a GOP establishment led by McCarthy, led by Rona McDaniel, led by others in Washington that aren't winning.
00:19:42.000 And it's time we get back to winning.
00:19:44.000 And so, look, I've been very strongly outspoken on Rona McDaniel has to go.
00:19:48.000 I've been very outspoken that that Kevin McCarthy has to go.
00:19:51.000 And there is a way to get there.
00:19:53.000 And so when Caroline tells me that she doesn't have the votes now on the first ballot, this is huge because everybody thought this was going to be a shoe in for her.
00:20:01.000 Oh, what is Mike Lindell and what is Harmeet doing?
00:20:04.000 It's no shoe in now.
00:20:06.000 And these committee members out there that are going to go vote.
00:20:09.000 Let me tell you some.
00:20:10.000 How often do we talk about committee members, Steve?
00:20:12.000 But these people need to be held accountable if they put in the same old regime again.
00:20:17.000 I think everybody should be on a phone to their committee member from their state who's going to be voting on this, sending them emails and telling them how they feel.
00:20:25.000 Grant said something there is very important.
00:20:28.000 This is kind of blockbuster news because the media said at first when these there's like Don Quixote was Mike Lindell and Harmeet was a nice lawyer, but not exactly a fire, a big charismatic personality.
00:20:39.000 This thing was locked.
00:20:40.000 She had it. It was locked.
00:20:41.000 It's an insider's game locked.
00:20:42.000 And now Caroline Ren is telling us, oops, it's below 84 votes.
00:20:47.000 That's a big deal.
00:20:48.000 Then you talk to me.
00:20:49.000 You got you got Carrie Lake and and John Rich and Mercedes Schlapp and other big personalities that are going to show up.
00:20:57.000 Charlie Kirk or show up in Dana Point.
00:21:00.000 By the way, I think one of the most expensive resorts on the West Coast.
00:21:04.000 Right. That thing's the Ritz Carlton down in in Dana Point.
00:21:08.000 What are they going to California for?
00:21:10.000 I do radio in California.
00:21:12.000 What what are they coming to California for?
00:21:14.000 California isn't any friendly state to Republicans.
00:21:17.000 They want to put our money in there.
00:21:18.000 This is what I'm talking about by Republican leadership.
00:21:21.000 Go to a state like Florida.
00:21:22.000 Go to a state like Texas.
00:21:24.000 Heck, go to a state in the middle of the country that needs the money.
00:21:27.000 Go to North or South Dakota for all I care.
00:21:29.000 But do not go to California.
00:21:31.000 Yeah.
00:21:32.000 Yeah.
00:21:33.000 You should be doing it at a you should be doing it at a motel eight next to a convention
00:21:36.000 center like Mike Lindell does.
00:21:37.000 No, seriously.
00:21:38.000 You're good.
00:21:39.000 You don't need to be in Dana.
00:21:40.000 The one in Dana Point, too, is also it's got it's like it's like Baroque.
00:21:44.000 It's got, you know, 18th century paintings.
00:21:46.000 It's amazing, but it's one of the most expensive resorts on the West Coast, which may be the
00:21:50.000 purpose of it all.
00:21:51.000 Caroline Rand.
00:21:52.000 Let me come back to you.
00:21:53.000 By the way, Cortez is with us.
00:21:55.000 He's going to make a defense for Kevin McCarthy.
00:21:57.000 This whole McCarthy thing is now blowing up.
00:21:59.000 As we said and we told you, and I think I broke it first on Getter last night and then
00:22:03.000 CNN was about an hour later.
00:22:04.000 McCarthy was with the Freedom Caucus leadership, and it looks like he's caved on motion to vacate.
00:22:10.000 And when I say that, everything else underneath that, right, the one subject, the conservatives,
00:22:16.000 the the at least verbally, you know, hey, you're going to have representation.
00:22:20.000 You're going to share committees.
00:22:21.000 You're going to do all of it.
00:22:22.000 Motion to vacate now looks like the debates between five votes to do it or one vote to do
00:22:27.000 it.
00:22:28.000 We'll get to that in detail in a second.
00:22:30.000 Caroline, both the Hill newspaper lead story.
00:22:34.000 Now, you've got to think about this for a second.
00:22:36.000 There's no more insider that influences insiders and the lobbyist community and the way D.C.
00:22:41.000 really runs.
00:22:42.000 And I think the reason one of the reasons people love war image would give you a lot of inside
00:22:45.000 baseball.
00:22:46.000 The Hill newspaper lead story and the in Axios when both of them on the last market open
00:22:54.000 day of the year is got stories essentially about Carrie Lake that the Hill says she's hurting
00:23:02.000 herself.
00:23:03.000 Arizona GOP members say she's hurting herself by pursuing this, this, this appeal, although
00:23:11.000 Abe, I think with a 200 votes and then Axios comes out says have been a big realignment.
00:23:18.000 You know, Stinchfield's taking Texas off the map.
00:23:20.000 That's not in play because it's conservative Hispanics outweigh the business community there.
00:23:25.000 That's not in play.
00:23:26.000 Florida and Ohio, forget it.
00:23:28.000 They're MAGA red states, leader MAGA states.
00:23:30.000 It comes down to in order, Arizona, Georgia, Wisconsin, and Pennsylvania.
00:23:35.000 This audience has heard that drum beat forever.
00:23:37.000 Well, is Carrie Lake hurting herself by standing up and showing that this election in Arizona
00:23:45.000 was stolen as what's showed with Abe Hamaday yesterday.
00:23:48.000 It's absolutely clearly stolen.
00:23:50.000 Is her fighting for the people of Arizona and its sovereignty?
00:23:55.000 Is that hurting her image or brand, ma'am?
00:23:58.000 Well, it depends on who you talk about.
00:24:01.000 If you're talking about the Hill and Axios, those are both, I would argue, irrelevant
00:24:05.000 outlets.
00:24:06.000 I'm sure the lobbyists read them.
00:24:07.000 They're both just recently sold to hedge funds in New York and are read by exactly zero
00:24:11.000 people in the state of Arizona.
00:24:12.000 So I don't exactly take what they have to say to mean anything.
00:24:16.000 So, but if they're trying to act like Carrie Lake is now dumb because of this, then they
00:24:20.000 really, really, really have not been on the ground in Arizona.
00:24:23.000 The groundswell of support behind Carrie Lake in these election challenges that she's
00:24:28.000 making is truly, truly unbelievable.
00:24:30.000 We've been going traveling, going through airports.
00:24:32.000 People are stopping her everywhere we go saying, please, Carrie, I'm fighting with you.
00:24:36.000 I'm standing with you.
00:24:37.000 We checked into a hotel in a totally different state.
00:24:40.000 We were there.
00:24:41.000 And there was a Latino individual who was doing the check-in at the hotels, did not speak
00:24:46.000 much English and said, oh my God, are you Carrie Lake?
00:24:48.000 Can I have a picture?
00:24:50.000 This is that.
00:24:51.000 So to act like the Hill or these lobbying, yes, maybe she's dead in the mind of the Boeing
00:24:56.000 lobbyists in DC, but who cares?
00:24:58.000 I know Carrie Lake doesn't.
00:25:00.000 And so I actually think that she would lose her supporters if she didn't stand up in fright
00:25:04.000 right now.
00:25:05.000 Every person I talk to, the real people in America are saying, please, please stand up.
00:25:09.000 The Hill newspaper does what the New York Times, everybody does.
00:25:12.000 They go to McCain.
00:25:14.000 Remember, don't misinterpret the numbers out of 2022.
00:25:18.000 What is evident is that there's 10 to 15% of people that register as Republicans that
00:25:23.000 will not vote for MAGA candidates.
00:25:26.000 They hate War Room.
00:25:27.000 They hate Grant Stinchfield.
00:25:28.000 They hate RAV.
00:25:29.000 They hate Charlie Kirk.
00:25:30.000 They hate Jack Posobiec.
00:25:31.000 They hate Carrie Lake, Trump.
00:25:33.000 They're just, they're essentially what Fox has become during its day parts is a center-left,
00:25:40.000 a centrist center-left operation.
00:25:43.000 And they get these consultants that are McCain Democrats is what I call them.
00:25:46.000 McCain Democrats out there say, yeah, it's terrible.
00:25:49.000 But are you absolutely certain that the base in Arizona supports her fight to take this
00:25:55.000 to the bitter end, ma'am?
00:25:56.000 I'm absolutely certain that the base does, does support this fight.
00:26:01.000 But more importantly, anyone should support this fight right now.
00:26:04.000 Even from the, the story that you had sent me, Steve, you said that they, in there, they
00:26:07.000 say there's, there's four states that matter.
00:26:09.000 Was it Wisconsin, Georgia, Pennsylvania, and Arizona?
00:26:11.000 That is true.
00:26:12.000 But even if you have, you've got to hyper-localize that too.
00:26:14.000 It's not four states.
00:26:15.000 It's four counties.
00:26:16.000 It's, I believe, Brown County in Wisconsin.
00:26:18.000 In Pennsylvania, it's Bucks County.
00:26:20.000 In Georgia, it's Cobb County.
00:26:21.000 In Arizona, it's Maricopa County.
00:26:23.000 So Carrie Lake is not just fighting for herself right now.
00:26:26.000 She is fighting for whoever the future nominee is in 2024.
00:26:29.000 Not to mention, Steve, we have Senate races in 2024 in these states.
00:26:32.000 We have a Senate race in Arizona.
00:26:33.000 We have a Senate race in Wisconsin.
00:26:35.000 Tammy Baldwin is up.
00:26:36.000 We have a Senate race in Pennsylvania.
00:26:37.000 Bob Casey is up.
00:26:38.000 We have a Senate race in Pennsylvania.
00:26:40.000 I'm naming off these states.
00:26:42.000 So Carrie Lake is fighting for the entire movement.
00:26:45.000 Doesn't care if you're a McCain Republican.
00:26:47.000 She doesn't care if you're a Republican, Democrat, Libertarian, or Vegetarian.
00:26:51.000 The right to vote and have it to be a free and fair election is essential for a democracy
00:26:56.000 to run.
00:26:57.000 And Carrie Lake will not back down until this is gone through the Supreme Court.
00:27:01.000 And then, you know what?
00:27:02.000 If it makes it all the way through there and they still say, nope, sorry, we don't agree
00:27:04.000 with you, then she's going to turn around and keep fighting.
00:27:07.000 She's going to fight in every single way possible to make sure that we have free and
00:27:10.000 fair elections.
00:27:11.000 We really do have to focus in these four counties.
00:27:14.000 I mean, these four counties are going to determine whether or not we have a Republican president.
00:27:18.000 It does not matter who's on the top of the ticket.
00:27:20.000 If we don't figure out how to win in these four counties and really either decide that
00:27:25.000 we are going to fix the way the elections are run or play the game that the Democrats
00:27:28.000 are running.
00:27:29.000 I'm actually open to both options now at this point.
00:27:31.000 I'm so sick of losing.
00:27:32.000 But that's where we are right now.
00:27:34.000 And so I think that Carrie is doing a service to this entire country and we should all be
00:27:38.000 thanking her for being so courageous.
00:27:40.000 What's your social media?
00:27:41.000 How can they track what's happening over this weekend?
00:27:44.000 Because there's appeals out there and you're asking for a signature verification to be
00:27:47.000 back in.
00:27:48.000 The Abe Hamaday situation shows you this thing was stolen.
00:27:51.000 There's 1.5 million ballots they haven't been able to look at.
00:27:53.000 And that includes the other counties.
00:27:55.000 Hamaday ought to represent himself going to court and keep fighting this thing.
00:27:59.000 Caroline, what's your social media?
00:28:01.000 Sure.
00:28:02.000 It's at Caroline Wren on Getter, Truth and Twitter.
00:28:06.000 Thank you, man.
00:28:07.000 Appreciate it.
00:28:08.000 OK, we're going to take a break.
00:28:10.000 We're going to come back.
00:28:11.000 We got Grant's going to stick with us.
00:28:12.000 He's going to give us his assessment of Carrie Lake.
00:28:14.000 He's also given us assessment of McCarthy.
00:28:16.000 Steve Cortez has got an amazing on his sub stack right now.
00:28:20.000 I think the most concise, brutal assessment of the economy in 2022.
00:28:26.000 He's also going to give us some thoughts on McCarthy and this entire situation.
00:28:30.000 Matt Gaetz later.
00:28:31.000 Anna Paulina Luna.
00:28:33.000 Rogan O'Hanley.
00:28:35.000 Colonel John Mills.
00:28:36.000 We've got a lot going on.
00:28:37.000 D. Mike Lindell.
00:28:39.000 Pack from here in a strap in.
00:28:41.000 Short commercial break.
00:28:42.000 Back in the war room.
00:28:43.000 In the war room.
00:28:44.000 Just a moment.
00:28:45.000 If you are over.
00:28:46.000 Cause we're taking down the CCB.
00:28:51.000 Spread the world all through Hong Kong.
00:28:54.000 We will fight till they're all gone.
00:28:56.000 We rejoice when there's no war.
00:28:58.000 Let's take down the CCB.
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00:31:04.000 Okay.
00:31:05.000 Welcome back.
00:31:06.000 We're about, we're going to show you when Cortez joins, we're going to show you a scatter chart.
00:31:12.000 Okay.
00:31:13.000 Don't get sweaty palms.
00:31:14.000 Those of you who did not ace high school math.
00:31:16.000 Okay.
00:31:17.000 It's fine because the math here is fairly simple, but you got to understand how the economy
00:31:21.000 work and how it links back to your life.
00:31:24.000 How it looks back to the country's life.
00:31:26.000 We're going to show you a scatter graph as Cortez goes through his capital markets.
00:31:31.000 You're going to see the 10, you're going to see how 10 tree.
00:31:35.000 And are you going to see manifested mathematically in a scatter graph?
00:31:39.000 The 10 trillion dollars that was, uh, the 10 trillion dollars that was destroyed because
00:31:44.000 stolen elections, elections have consequences and stolen elections have catastrophic consequences.
00:31:49.000 And remember we're the railhead and we're proud of it, of the 2020 election was stolen.
00:31:54.000 The 2020 election was stolen.
00:31:56.000 That stolen election, all the problems have stemmed from that.
00:32:01.000 And now we know the preamble to that.
00:32:03.000 The lead up to that was on Trump's watch.
00:32:06.000 It was his guys.
00:32:07.000 That was the coup.
00:32:08.000 It was, uh, it was Chris Ray at the FBI.
00:32:11.000 It was bill barred DOJ.
00:32:12.000 It was the whole thing of the laptop from hell and Twitter and all of it.
00:32:15.000 It starts back in.
00:32:17.000 Um, and you can throw in fouching these guys on, on the pandemic, the knowledge of it.
00:32:22.000 You can go back to August and September of 2019.
00:32:26.000 You can look at the whole impeachment.
00:32:27.000 It all fits together completely and totally.
00:32:30.000 And we are not conspiracy theory guys here on the show, but we're going to show you elections
00:32:35.000 elections have consequences.
00:32:36.000 Total elections have catastrophic consequences.
00:32:39.000 Let me go back to grant grant first.
00:32:42.000 Let me, let me ask you about your, your assessment.
00:32:44.000 You're, you're a Texas guy been there for a couple of decades, but you, you, you have
00:32:48.000 a great show out in LA.
00:32:49.000 So you kind of see both ends of the spectrum.
00:32:51.000 Give me your assessment of Carrie lakes fight.
00:32:53.000 These articles in the hill, the town of, oh, she's killing a brand.
00:32:56.000 You know, the, the, the suburban mom says she's killing a brand.
00:32:59.000 All these consultants killing a brand.
00:33:01.000 What's your assessment of her fight in Arizona, sir?
00:33:04.000 Steve, you know, it's interesting to what the way you just portrayed how all of this
00:33:09.000 stuff goes together and you go back to 2019 and all of it is why we need to win.
00:33:14.000 All of it is why Carrie Lake needs to keep fighting to get to the bottom of what happened.
00:33:19.000 You talk about the FBI.
00:33:21.000 This is directly linked to Carrie Lake because of a lack of action on the FBI.
00:33:25.000 You know, after the 2020 election happened, when I believe that president Trump had his
00:33:29.000 election stolen from him, we were one of the first to run the video of them pulling those
00:33:33.000 ballots out from underneath the table and in Georgia.
00:33:36.000 And I said, I just want someone to investigate this.
00:33:39.000 Where is the FBI?
00:33:40.000 When it comes to election integrity, election fraud, whatever it may be, they never really
00:33:45.000 went in and investigated any of that in 2020.
00:33:48.000 When you have all these machines breakdown in Arizona, two years later, it's not a coincidence.
00:33:53.000 I do not believe in coincidences when it comes to politics that all these machines would
00:33:57.000 just somehow fail at one time.
00:33:59.000 It was sabotage.
00:34:00.000 Where is the FBI?
00:34:02.000 Now, if you want the FBI to get involved in this, what has to happen?
00:34:06.000 One, I do believe that you need a change in leadership at the head of the Republican Party,
00:34:10.000 which this gets back to why Rona McDaniel needs to go, because it's about winning elections.
00:34:14.000 Why Kevin McCarthy needs to go, because it's about winning in Washington.
00:34:18.000 If we start winning as a party, then we take back control of Washington because we give
00:34:24.000 the base, the grassroots, the American people what they want.
00:34:28.000 And that is conservatism, American values, government out of my life.
00:34:32.000 But all of this plays together as to why we need to take back control and to get there
00:34:36.000 to take back control is we need these people in positions.
00:34:39.000 But hang on.
00:34:40.000 But hang on.
00:34:41.000 McCarthy's in control.
00:34:42.000 McCarthy delivered this victory.
00:34:44.000 I'm giving you his pitch.
00:34:45.000 He won.
00:34:46.000 He got the victory.
00:34:47.000 He's got empty genocide.
00:34:49.000 He's got the great Steve Cortez.
00:34:51.000 He's got many others that said, hey, look, in an imperfect world, we got to get fire off
00:34:55.000 the football.
00:34:56.000 This guy can do it.
00:34:57.000 If then I understand that, Ron McDaniel, what's your beef with Kevin McCarthy?
00:35:01.000 Oh, come on.
00:35:02.000 I mean, none of us can really look in the mirror and tell us Kevin McCarthy has been
00:35:06.000 winning.
00:35:07.000 We've been getting hit in the face time and time again in Washington.
00:35:10.000 And Kevin McCarthy has been leading that role.
00:35:13.000 We want people standing up and willing to fight and do the dirty work in Washington instead
00:35:18.000 of smiling and telling us you're going to do one thing and then ultimately backing down.
00:35:23.000 If he's really such a winner, how do we get this giant omnibus bill, which is which is robbing
00:35:28.000 the American people, including sending all this money over to Ukraine, which I have no
00:35:33.000 idea where that money is even going.
00:35:34.000 It's probably lining the pockets of oligarchs in Ukraine.
00:35:37.000 This is Kevin McCarthy at the heart of all of this.
00:35:40.000 So you can't tell me he's winning.
00:35:43.000 We've got to get a guy that we all can trust.
00:35:45.000 So I believe that guy's Jim Jordan.
00:35:47.000 Jim Jordan tells me over and over again, he doesn't want the job, but he says that publicly
00:35:51.000 because he can't say he wants the job because if Kevin McCarthy were to win, it's Washington
00:35:55.000 politics as usual.
00:35:57.000 And then Jim Jordan's knees are cut off.
00:35:59.000 I said it was Shakespearean.
00:36:01.000 And what I mean by that is like in in in in Julia Caesar, you can't have any blood on
00:36:06.000 your hands when you take down the head guy.
00:36:09.000 You got to be like Caesar's wife.
00:36:11.000 Grant, how do people get to you?
00:36:13.000 You got a show that's going to start next year on R.A.V.
00:36:16.000 How do people get to you in the interim?
00:36:17.000 What's your social media?
00:36:18.000 What's your what's your coordinates?
00:36:20.000 Yeah, one.
00:36:21.000 I'm so excited about the show starting on Rav and that's going to be happening in January.
00:36:24.000 We don't have a date set yet, but that'll be happening.
00:36:27.000 You know, this month coming up social media, Stinchfield 1776 everywhere.
00:36:31.000 And my podcast, I urge people, please go to my podcast, subscribe to an Apple YouTube
00:36:37.000 rumble.
00:36:38.000 Just type in Stinchfield and it should come right up.
00:36:41.000 That's helpful.
00:36:42.000 But Stinchfield 1776 is where you can find me and Grant Stinchfield dot com is the website
00:36:46.000 to get to all of those things.
00:36:48.000 Grant Stinchfield.
00:36:49.000 Worm loves you.
00:36:50.000 Happy New Year, sir.
00:36:51.000 I'll see you on the other side.
00:36:52.000 And you're a hero, Steve.
00:36:54.000 I love coming on the show.
00:36:55.000 Get at it.
00:36:56.000 Love you, brother.
00:36:57.000 OK, Cortez, I must start.
00:36:59.000 I understand you've got a very recent approach on McCarthy.
00:37:01.000 I want to hold that to the end, though.
00:37:03.000 I want to I want to start with your assessment of the global economy, the United States economy.
00:37:08.000 I'd like to put a Denver could put up the scatter graph from the Financial Times.
00:37:13.000 And Steve, as you start your Steve joins us by phone today.
00:37:16.000 Steve, as you start your analysis, I'd like you to address that.
00:37:20.000 Right.
00:37:21.000 The massive.
00:37:22.000 Well, this chart, ladies and gentlemen, is absolutely stunning.
00:37:25.000 It goes back to 1871 total returns, stocks and bonds in the United States of America.
00:37:33.000 Capital markets.
00:37:34.000 OK, and point point out for our podcast to radio audience point out what's this massive
00:37:40.000 ten trillion dollar destruction of your wealth.
00:37:43.000 Right.
00:37:44.000 Because stolen elections have catastrophic consequences.
00:37:47.000 Steve Cortez.
00:37:48.000 Yeah, Steve, this chart really is a fantastic visual aid for what we've been talking about
00:37:53.000 all year, which is the fact that there's nowhere to hide.
00:37:55.000 Main Street is getting killed.
00:37:56.000 But within capital markets, both stocks and bonds getting absolutely throttled all year
00:38:02.000 long.
00:38:03.000 That is the reality, not my opinion.
00:38:04.000 That is the tangible reality.
00:38:06.000 Price is truth and the price doesn't lie here.
00:38:08.000 And if we look at this scatter chart, if you look in the upper right quadrant, that is
00:38:13.000 when stocks bonds.
00:38:14.000 Hang on one second.
00:38:15.000 Hang on, Denver.
00:38:16.000 Can you put the chart up?
00:38:17.000 Can we get the chart?
00:38:18.000 If you don't have the chart, let's go ahead.
00:38:22.000 We don't have it.
00:38:23.000 I can talk through.
00:38:24.000 Okay.
00:38:25.000 Yeah.
00:38:26.000 Why don't you talk about it?
00:38:27.000 I can just quickly talk it through.
00:38:28.000 The reality is it's quadrants that we can post on our social media so the folks can see
00:38:32.000 it after the show.
00:38:33.000 Because I do think this is really important to show that the vast majority of the time,
00:38:36.000 thankfully, in the United States, because we are a nation of enterprise and grit and doers,
00:38:41.000 the vast majority of the time, both stocks and bonds advance year over year.
00:38:45.000 And this literally shows 150 years of history.
00:38:48.000 Now, the biggest gains typically come from stocks, but bonds typically do well in the
00:38:52.000 low single digits in terms of return.
00:38:54.000 And they are essentially your insurance policy in normal times, in almost all times.
00:38:58.000 And what really stands out on this chart is the massive outlier.
00:39:01.000 And I mean massive, right?
00:39:03.000 All the dots are basically together.
00:39:04.000 They almost blur each other.
00:39:06.000 And then there's one dot all by itself.
00:39:08.000 And that is the year 2022.
00:39:10.000 Because unfortunately this year, both stocks and bonds got absolutely throttled.
00:39:16.000 The NASDAQ down 30% on the year.
00:39:18.000 And treasury bonds, if you look at the long end of the curve, the TLT, also down 30%,
00:39:23.000 actually slightly more, 32% on the year for long treasury bonds.
00:39:27.000 What is normally the safety?
00:39:28.000 What is normally the insurance?
00:39:30.000 What's supposed to be grandma's investment?
00:39:32.000 Okay.
00:39:33.000 Something that can last for generations has turned into an incredibly volatile investment
00:39:38.000 and has traded basically down with stocks all year long.
00:39:41.000 Why?
00:39:42.000 Because Biden's inflation has collided with Biden's recession.
00:39:46.000 And that is simply the reality here.
00:39:48.000 So I want to show some charts.
00:39:49.000 And I have a new write-up on my sub stack showing the unfortunate reality of the year
00:39:55.000 that was economically for 2022.
00:39:57.000 And I call it the anus horribilis because it was truly a horrible year for the economy.
00:40:02.000 Not just financial markets.
00:40:03.000 That's certainly true.
00:40:04.000 But also for the main street economy.
00:40:06.000 So let's go to chart number one, please, if we can.
00:40:08.000 This is University of Michigan consumer confidence.
00:40:10.000 And this chart goes back 40 years.
00:40:12.000 This index goes all the way back to World War II.
00:40:14.000 We hit the lowest level in history.
00:40:16.000 The lowest post-World War II level in consumer confidence this year, Steve.
00:40:21.000 And if you think about that, to put that in context, the Vietnam War, the oil, the Arab oil embargo,
00:40:26.000 the dot-com bubble, the housing and banking and credit crisis of 2008, 2009, 9-11,
00:40:33.000 all of the political and economic calamities that the United States has seen since World War II,
00:40:38.000 confidence has never been lower than it was in the year 2022 under Joe Biden.
00:40:44.000 Again, not my opinion.
00:40:46.000 That is what the data actually reflects.
00:40:48.000 If we go to chart number two, not surprisingly, given this plunge in confidence, this is for the year.
00:40:53.000 This is the consumer discretionary sector.
00:40:55.000 So this is the XLY is the ticker.
00:40:57.000 And in one ticker, you get a whole group of the biggest companies that are consumer facing.
00:41:01.000 A lot of companies that we frankly don't like very much as conservatives, but nonetheless,
00:41:04.000 they reflect the health of the consumer.
00:41:05.000 Companies like Amazon and Disney all grouped together in the XLY.
00:41:09.000 As you can see on that chart, it is a decidedly downward pattern from the upper left to the lower right,
00:41:14.000 unfortunately losing more than 30% on the year in XLY.
00:41:19.000 But it's not just the consumer that's in trouble.
00:41:21.000 It's also business.
00:41:22.000 We go to chart number three.
00:41:23.000 This is manufacturing PMI again for this year.
00:41:27.000 I'm really trying to make this mostly a write up of this year,
00:41:29.000 even though consumer confidence I showed for decades.
00:41:31.000 This is manufacturing PMI purchasing managed index for the year.
00:41:36.000 And if you look on that chart, once again, unfortunately, the trend is massively down.
00:41:41.000 The most recent PMI number for manufacturing only 46.2.
00:41:45.000 That is well below 50, which is the break point for growth versus contraction.
00:41:51.000 And not only that, Steve, but by far the worst in the world among industrial nations.
00:41:54.000 Because Biden and the corporate media, their constant narrative they keep saying is all these are global forces.
00:41:59.000 So we are the worst in show right now in the United States.
00:42:02.000 Among the G20 countries, composite PMI, we come in at a paltry 44.6.
00:42:07.000 I cite all of this in my article, by the way, with the links.
00:42:10.000 We are the worst in the industrial world.
00:42:12.000 That is the reality right now.
00:42:14.000 Then one more chart, chart number four.
00:42:15.000 A lot of this, of course, as I mentioned, is because of Biden's inflation.
00:42:18.000 Biden's inflation, Biden's inflation in turn means massive rise in interest rates.
00:42:22.000 So this is year to date, 2022, for the 10-year Treasury bond.
00:42:27.000 Yield meaning the interest rate.
00:42:28.000 We started the year off with 10-year Treasury yield at only 1.5%.
00:42:32.000 It has well more than doubled to nearly 4% right now, 384 as we speak today.
00:42:39.000 Steve, this is why as that yield goes up, bond prices go down.
00:42:44.000 That's why investors have gotten so rinsed and there has been no safe harbor, no insurance
00:42:49.000 for investors.
00:42:51.000 And by the way, speaking of investors, keep your eye on pensions into 2023.
00:42:55.000 I also give some of the data in my article.
00:42:57.000 Pension, this might be the year 2022 that broke pensions, particularly the unfunded public
00:43:03.000 pensions out there, which even in the best of times couldn't match their liabilities
00:43:07.000 and now are in a systemic crisis heading into 2023.
00:43:11.000 These are the unfortunate but very real economic consequences of what the Biden regime, along
00:43:17.000 with Republican collaborators, has done to the American economy and to our prosperity.
00:43:22.000 I want to go back to that.
00:43:23.000 Before we go to break, I want to go back to the situation of pensions, because when you
00:43:27.000 get this up, you see this.
00:43:30.000 I tell you, I've got the chart.
00:43:31.000 Let's go and put the chart up real quickly.
00:43:33.000 Thank you.
00:43:34.000 And it turns out, I don't think I got it to people soon enough.
00:43:37.000 So I'll take the hit there.
00:43:38.000 For the audience and for the podcast audience and radio audience, this is what you have to
00:43:42.000 get.
00:43:43.000 Go get our email every day.
00:43:44.000 You got to see these visuals.
00:43:46.000 That chart you're looking at right now, everything's bunched, even 1931, which is really the worst
00:43:52.000 year of the depression.
00:43:53.000 That's that's what brought Roosevelt to power in 32 was how bad.
00:43:57.000 31 was 31 to the left, kind of the zero.
00:44:00.000 Look at 2022.
00:44:02.000 That is an outlier in from 1871 to today.
00:44:08.000 And when I look at that right there, that's $10 trillion of wealth destruction in stocks
00:44:13.000 and bonds, Steve Cortez.
00:44:16.000 But that is the predicate for the implosion of pension funds.
00:44:21.000 This is what we talk about England.
00:44:23.000 You're going to find out that these pension funds to try to get returns are so bad.
00:44:26.000 They got so many kinky investments in them, right?
00:44:29.000 Derivatives, all of that.
00:44:30.000 Let's take a break.
00:44:31.000 We got Cortez on the other side.
00:44:33.000 We're given the analysis of the economic and capital markets manifestation of the catastrophe
00:44:42.000 that comes from a stolen election.
00:44:44.000 Okay.
00:44:45.000 Short commercial break.
00:44:46.000 Back in a moment.
00:44:47.000 Because we're taking down the CCP.
00:44:50.000 Spread the word all through Hong Kong.
00:44:53.000 We will fight till they're all gone.
00:44:56.000 We rejoice when there's no more.
00:44:58.000 Let's see.
00:44:59.000 Years have proven that we need to be prepared.
00:45:01.000 We constantly see government overreach, attacks on our communication and energy grid,
00:45:06.000 worldwide conflict, natural disasters and the never ending assault on our security and privacy.
00:45:11.000 Having reliable communications is essential.
00:45:14.000 Don't get caught without reliable communication.
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00:48:32.000 So it's, it's, it's fantastic.
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00:48:39.000 And plus you get all the live chats, everything.
00:48:41.000 We'll probably be doing a lot of those over the holiday weekend, uh, upcoming.
00:48:44.000 Um, Steve Cortez.
00:48:47.000 I want to go back to that chart, uh, cause we didn't have at the top of your call.
00:48:51.000 That, that, that this chart, ladies and gentlemen, I want you to, even if you have to get it in and we'll put it up on our link and you can print it out.
00:48:58.000 You should like put that up next to your mirror every morning, because this is the reality of what this regime has done with all the happy talk of corporate media and all that right.
00:49:08.000 There is the hard math of total nominal returns from stocks and bonds, stocks and bonds since 1871, 1871.
00:49:21.000 In the outlier, even, even the worst years of the financial crisis, I think in 1906, I think they had a, another panic in 1871, the early 1870s, 1906 panic, the great depression, 1931s up there.
00:49:34.000 Nothing compares.
00:49:36.000 To what happened this year, $10 trillion of your wealth.
00:49:40.000 Wiped out.
00:49:41.000 Okay.
00:49:42.000 Wiped out.
00:49:43.000 Gone.
00:49:44.000 Bye-bye in the car car.
00:49:45.000 Okay.
00:49:46.000 Yes.
00:49:47.000 Give me your sense, because this lays out.
00:49:48.000 Yes.
00:49:49.000 One of the reasons we have such a little flexibility to do, uh, in this, on top of this one point trick, this is, you ought to have this chart and you ought to sign it, ladies and gentlemen, and send it to the collaborators who, uh, and they are collaborators and particularly everybody in South Dakota.
00:50:03.000 Send to both your senators and you know what?
00:50:05.000 Send to Kristi Noem's office.
00:50:06.000 Hey governor, when are you going to step up and speak out here about what our senators in a small state did?
00:50:11.000 Steve Cortez.
00:50:12.000 Yeah.
00:50:13.000 And by the way, both the senators from Arkansas too, think about all the great patriots in that red conservative state of Arkansas.
00:50:18.000 Both of those senators, Tom Cotton and Bozeman, voted for this madness and they own this chart and this outlier, which you're exactly correct.
00:50:26.000 2022 is in the red there at the far lower left.
00:50:29.000 Again, what you want on this chart is to be in the upper right quadrant.
00:50:32.000 And for the vast majority of American history, that's been the case.
00:50:35.000 Bonds do fine.
00:50:36.000 They don't generally excel, but they do fine.
00:50:38.000 And stocks are where you really make your money over time.
00:50:40.000 But to be in the, in the upper left quadrant or the lower right, right quadrant also.
00:50:45.000 Okay.
00:50:46.000 Because it means you're making money on one side, losing some of the other, but you're basically okay in a 60, 40 portfolio, which is sort of the norm for wall street where you don't want to ever be is in that lower left quadrant.
00:50:55.000 And there's only three years there.
00:50:57.000 Okay.
00:50:58.000 And the other two, uh, 1941, 1969, we're not very material.
00:51:02.000 Bonds basically held in just slightly lost.
00:51:04.000 The only outlier, literally the worst year in all of American history, going back 150 years to almost the civil war is 2022.
00:51:13.000 This is what Joe Biden has done to this country.
00:51:16.000 Okay.
00:51:17.000 This is what capital markets and they are reflecting, by the way, this isn't just too much leverage in the capital market system or just, you know, some problem that's isolated to markets.
00:51:23.000 No, they are reflecting the weakness on mainstream as, as exemplified, you know, in the charts we showed previously by manufacturing PMI by the plunge in consumer confidence to an all time, uh, post world war too low.
00:51:35.000 So this is the sad and tragic reality right now of massive inflation and no growth.
00:51:42.000 And that is the reality that confronts the United States.
00:51:45.000 That is what marks 2022.
00:51:46.000 And it's so important, Steve, I think you're the only show on the air and kudos to you for telling the truth about the economy, because we know the legacy corporate media doesn't do it.
00:51:54.000 And even a lot of the right wing or right leaning shows don't really understand the economy.
00:51:59.000 So they don't go there, but this is so material, so important to people's lives, right?
00:52:03.000 Real wages have been declining for 20 straight months.
00:52:06.000 They certainly don't understand how the real economy ties into capital markets and then how capital markets ties into both your personal situation and your, and the country's financial situation.
00:52:16.000 We're talking more about this so much more about this in the first days of the new year, because this is how, this is going to be the framework that everything set.
00:52:24.000 Also want to give people a heads up since we're so far ahead of the curve of everything else.
00:52:28.000 This is why we focus so much on, on the English, on the British situation, those pension funds right now to get returns.
00:52:34.000 They've got so many kinky investments in there.
00:52:37.000 So many derivatives.
00:52:38.000 So I'm telling you, it keeps going like this.
00:52:41.000 And if it keeps going like this and the full impact of this omnibus bill starts to hit in with the fed, you could have catastrophes in these pension funds.
00:52:50.000 And Steve, it's already starting to happen here in a different way, but it's happening here.
00:52:54.000 And you sent me the article, I linked to it in my column from Politico of all places, right?
00:52:59.000 So media, Politico, very left leaning, even if they admit this pension breakdown and that the three states, the worst states in the country, which what the ones you would expect, California, Illinois, and New Jersey, all of them had to add out of their current account, had to add massive injection injections, billions of dollars into their pension funds because of the returns this year, as we're talking about in both stocks and bonds, which were so dreadful.
00:53:22.000 And so, for example, CalPERS, which is the giant California public pension fund, lost $30 billion, billion with a B.
00:53:30.000 Now, the reason those states, though, their budget, their current near-term budgets are anywhere near in balance is only because of massive federal assistance, massive largesse that was borrowed at the federal level, given to the states the last couple of years.
00:53:41.800 Okay, so they could afford a near-term injection.
00:53:44.820 They can't afford that going forward.
00:53:46.100 And if this Biden recession intensifies and all the indications are it's going to, Steve, in 2023, believe me, particularly in places like Chicago, checks are not going to go out, okay?
00:53:56.660 Not going out.
00:53:57.080 To teachers and cops and streets and sanitation workers who are retired and count on them every single month.
00:54:02.200 And firemen.
00:54:02.600 They are not going out.
00:54:04.080 But as bad as that is for the checks not going out, and that's bad, let me tell you, when you look at these charts, let me be brutally frank.
00:54:10.340 The people that are not really in the system, and that would be lower-wage African-Americans and Hispanics and people under 35, you voted for it, baby, and you're going to get it.
00:54:22.720 I'm telling you, you're going to end up – that money right now that's going in Illinois and California, New Jersey, they pay for this.
00:54:28.480 It's all going to come out of current taxes.
00:54:29.820 That's you, and you're not a beneficiary.
00:54:32.080 You are a group of mooks, financial mooks right now.
00:54:35.320 They are playing you with all the noise, and they're putting the signal on your shoulders.
00:54:41.300 Let me repeat this.
00:54:42.820 You look at this analysis.
00:54:44.540 If you're at lower-income wage, African-American, Hispanic, or anybody under 35, the three-card money is against you.
00:54:54.700 As bad as it is for the rest of the system, you're going to get destroyed, destroyed economically.
00:55:01.900 And here's the beauty of it.
00:55:02.920 You voted for it.
00:55:03.740 It's kind of, you know, it's got a certain Greek tragedy logic to it.
00:55:09.580 You voted for it.
00:55:11.020 In particular, all you college kids, all the college kids that voted for this, hey, you're supposed to be smart.
00:55:15.420 You're supposed to be smarter than working-class people.
00:55:17.720 You're supposed to be smarter than the deplorables.
00:55:19.560 You're supposed to be smarter than MAGA.
00:55:22.420 Well, it doesn't look like you're too smart.
00:55:24.100 Don't look like it from here, if you understand the myth.
00:55:27.000 Hey, Cortez, hang on one second.
00:55:28.120 I know you've got to bounce, but I want to talk about McCarthy.
00:55:32.240 We've got Gates, Anna Paulina Luna, a lot of conflicting opinions from a lot of smart, dedicated, full MAGA people.
00:55:39.960 Well, 90 seconds in the war room.
00:55:42.300 We will fight till they're all gone.
00:55:45.300 We rejoice when there's no more.
00:55:47.240 Let's take down the CCD.
00:55:49.680 The last few years have proven that we need to be prepared.
00:55:53.240 We constantly see government overreach, attacks on our communication, an energy grid, worldwide conflict, natural disasters, and the never-ending assault on our security and privacy.
00:56:03.500 Having reliable communications is essential.
00:56:06.620 Don't get caught without reliable communication.
00:56:08.680 And I'm here to tell you, your fragile cell phone simply won't cut it.
00:56:14.800 It will not cut it.
00:56:16.480 That's why I've partnered with the Satellite Phone Store, so you can stay prepared and ensure your vital communication stays private.
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