On today's show, Stephen K. Bannon and Brad Frieden Breunig discuss why the debt ceiling should be raised and why it should not be raised. They also talk about how to solve the problem of the $16.5 trillion debt ceiling and why we need to hold firm on it.
00:01:30.000There's the cost push, which is what we've had from the loss of strategic energy dominance.
00:01:35.000It starts with the oil and the natural gas, but it also bleeds over to food because food requires fertilizer, and that's all petroleum-based, okay?
00:01:44.000When we go to the discussion about the debt ceiling, what we're really talking about is the Keynesian fiscal policy stimulus that Biden has injected into the economy that's just blowing past everything we had.
00:01:59.000So it's really important that as we're talking about these discussions, we understand the two things that are going on.
00:02:07.000And this whole dollar devaluation, oil is priced in dollars, so that's how you get the cheaper dollar.
00:02:15.000The reason why we got to get the whole firm on the debt ceiling is to stop the demand pull.
00:02:19.000But that's kind of the big picture that these guys are talking about.
00:02:23.000What's also going to happen is you're going to have this conversation shift.
00:02:29.000Brad, I'm going to come to you in a second.
00:02:31.000Because they're going to sit there and go, we need to have more stimulus because the economy is starting to slow down.
00:02:38.000We're going to get into another Keynesian fight very shortly in May and June.
00:02:43.000They're going to sit there going, hey, you guys can't be talking about cuts because what we actually need is a stimulus because they're going to take the typical Keynesian tools.
00:02:51.000This gets to the point, Steve, that Keynesian tools can't solve stagnation.
00:02:56.000Keynesian can only do one problem at a time.
00:02:59.000If the White House and Congress are freaking out politically because we're in a recession and they start doing expansionary fiscal policy wanting the Fed to lower interest rates, all that's going to do is spike inflation and vice versa.
00:03:12.000And the rolling devaluation back to back.
00:03:15.000And the cure of all of this is structural, okay?
00:03:20.000Structural by holding firm on the debt ceiling and not building in.
00:03:24.000I mean, the frightening thing about the debt, it really, as Brad framed it well, is the debt service, right, where you have to pay foreigners.
00:03:35.000It's mostly foreigners who hold our debt.
00:03:43.000So that's the demand pull and the cost push is strategic energy dominance.
00:03:49.000Let me, Cortez, why is MSNBC now catching up with you over a couple of years ago about Repo Man?
00:03:56.000Why are they playing now nonstop Repo Man?
00:03:59.000What they're trying to do is say, hey, people are having their cars repossessed.
00:04:02.000How can these horrible people in the Republican Party, how can Warren be talking about meaningful and significant cuts in the social welfare programs?
00:04:16.000Well, listen, first of all, I'm glad that they're giving attention to it at least, right, that they're taking a slight break from their constant propaganda campaign pretending that the economy is in good shape.
00:04:27.000They're not doing it because of honest journalism or because they want to be storytellers and reflect what's going on in the country.
00:04:32.000They're doing it right now because they think it will be a device to say this situation will get worse if Biden can't spend more.
00:04:38.000You know, which, as I mentioned yesterday, anybody who has a toddler knows toddlers love to play this thing called opposite day.
00:04:43.000OK, that's like opposite day, because literally the Repo Man crisis, the repossession car crisis is being fomented, is being caused exactly by this inflation.
00:04:52.000You know, I mentioned earlier about the dollar devaluing against so many tangible goods, particularly commodities and things like farmland.
00:04:58.000It also devalued against things like cars, right, which got so outrageously expensive that regular folks couldn't afford them in the first place.
00:05:06.000Or if they could, they can't afford the payments.
00:05:08.000And so the Repo Man is one of the few areas, one of the few growth industries, growth professions right now in the United States.
00:05:16.000And I fear that it is about to get markedly worse.
00:05:18.000And by the way, Steve, MSNBC, Bloomberg, they're now covering this issue.
00:05:22.000War Room has been on this for many, many months.
00:05:24.000They should send a fruit basket to us, OK, as a thank you for us doing their homework and doing their due diligence ahead of time.
00:06:07.000Total auto loan debt, $1.43 trillion a record.
00:06:11.000And for the first time ever, the average loan balance is over $20,000 per car.
00:06:16.000That means a monthly payment of $730 every single month that so many consumers simply can't afford because prices are skyrocketing everywhere in their life.
00:06:26.000Now, let's look at an affordability index.
00:06:28.000How many weeks does it take to work for the average worker to buy the average new car?
00:07:06.000Listen, the Cortez Library of Chalk Talks, I have just about a while.
00:07:10.000I don't have it handy this second, but I have several believing.
00:07:13.000By the way, speaking of these Chalk Talks, just an interesting background story.
00:07:18.000You know, when I meet folks all over the country, airports, restaurants, the first two things they say to me, the first thing they say is War Room, and they talk about the posse, tell me they're members of the posse.
00:07:27.000The second thing they say is Chalk Talks.
00:07:29.000And the derivation of this, the birth of this Chalk Talk thing, when I was working with the Trump 2020 campaign, we had a couple of incredibly sophisticated studios where we made really glitzy, high production value videos for the campaign.
00:08:15.000They want to see the lines, the connections.
00:08:17.000And by the way, in this case, I'm bringing across a really terrible truth, which is that people can't afford the essentials of their life right now.
00:08:25.000But first off, the reason that Chalk Talks, for college football players and high school football players, when you're in there, you've got to keep it simple, but you've got to get to the heart of the problem, right?
00:08:35.000That's why the Chalk Talk is so powerful as a concept.
00:08:37.000And here, just that thing to know that people are working seven more weeks back then, had to work seven more weeks to get it, shows you what the problem is.
00:08:46.000Is what Joe Biden's created, he's created great job openings for repo men, right?
00:08:52.000I mean, this is the economy he's essentially built.
00:08:55.000And that's why I think if President Trump can actually continue to focus on the things that are important to the economy and the structural changes that have to happen and be just frank with the American people, I think you could see a landslide.
00:09:08.000Because I think the working class in this country is getting destroyed.
00:09:12.000And the solutions Biden's going to come back with, they're going to come back very quickly.
00:09:16.000We need a massive stimulus. That's what the $6.8 trillion budget is.
00:09:20.000You need a massive stimulus for all these work programs and all this, the social justice stuff that doesn't help the underlying economy as they continue on their radical plan associated with the Green New Deal.
00:09:34.000That's destroying the working class in our company.
00:09:37.000Let's start with Cortez, then I want to hear Navarro on this and Brett.
00:09:42.000Listen, I firmly believe that the issue, you're correct, there's a lot of issues that matter.
00:09:46.000But the issue that matters more than anything else, clearly, I believe, is the economy.
00:09:50.000And who will have the most persuasive populist nationalist economic agenda to fix this extremely broken economy, particularly for middle and lower income Americans?
00:10:02.000Because, again, it is bad and it is worsening.
00:10:05.000And all of that means we have to have an incredible sense of urgency for what we can do right now, which is limited but still powerful.
00:10:11.000What we can do with the House of Representatives.
00:10:13.000But then more importantly, what we can do once we fully take over again Washington, D.C., meaning the House, the Senate and the White House.
00:10:21.000Repo man, eviction man, let them eat cake.
00:12:53.000After months unemployed during the pandemic, Hurley, who drives her kids to school each day, then travels for her new job in pharmacy operations, is $1,000 behind on car payments and on the list to have her car repossessed.
00:13:07.000Have you had to choose between car payments and other bills?
00:13:20.000That nightmare, a reality for a surging number of families nationwide.
00:13:24.000After tumbling at the start of the pandemic, the rate of American borrowers dubbed severely delinquent or at least 60 days overdue on their car payments is up nearly 18 percent from a year ago.
00:13:34.000That same rate for subprime borrowers up 40 percent in the last two years.
00:13:40.000Repo agencies say the impact is obvious.
00:13:43.000The number of cars referred to you by the banks to get repossessed has tripled.
00:17:38.000But listen, you know, kidding aside, I am glad actually that they're very late to the party,
00:17:42.000but I'm glad they're at least acknowledging some of the on the ground reality.
00:17:46.000And that reality is really troubling for so many Americans.
00:17:48.000You know, think about that young woman, that young mother in that video.
00:17:52.000They don't say, but by context, it seems like she's probably a single mom who is struggling, who literally can't live without a car.
00:17:59.000OK, we're not talking about a luxury of a fancy meal out or a vacation.
00:18:02.000We're talking about the car to get her kids to school and to get herself to work and that she stays up at night worrying that the repo man is coming to get it.
00:18:11.000Steve, think about that anxiety and think about some of the second derivative consequences of that anxiety.
00:18:17.000I would stipulate that one of the key reasons that life expectancy in the United States is crashing right now.
00:18:23.000And it's the first time in American history that that has ever happened.
00:18:31.000But perhaps the key reason, I think, is economic.
00:18:33.000It is producing so much anxiety, so much despondency, so little hope for the future that it has not just mental, but also physical ramifications for far too many Americans.
00:18:50.000But we have the answers to return our country to a trajectory of growth, of reclaiming prosperity, of diminishing and ending the power of the oligarchs.
00:21:07.000And part of the productivity thing also has to do with education.
00:21:11.000So the left and the liberals and the Marxists, et cetera, are they really serving your kids well for $16,000 a year per kid in K-12 education?
00:26:56.000Well, you know, I've always given Musk mixed reviews.
00:27:01.000And I've always, I think, taken the sensible approach of encouraging him when he does good
00:27:08.000and utterly mocking him when he goes in the wrong direction.
00:27:13.000I still think his acquisition of Twitter was a net positive for speech on the internet and generally for the political culture.
00:27:21.000I think his emergence as a political figure challenging some of the woke fanaticism is a net positive.
00:27:30.000But like many great men, he's also hopelessly naive in many respects.
00:27:39.000I think that came out in some ways in the interview he did with Tucker Carlson made it clear that he hasn't thought through the question of AI at a deep philosophical level.
00:28:30.000The CDC says that I should eat six cups of fruit and veggies a day.
00:28:36.000Now there's zero chance I'm eating six cups of fruit and veggies a day.
00:28:40.000But according to a massive study, people who do eat healthy, live longer, have less heart disease and diabetes, and have less cancer.
00:28:49.000Now I take Field of Greens and I'll tell you why.
00:28:52.000Unlike other fruit and vegetable supplements, each specific fruit and vegetable and Field of Greens was medically selected to support specific functions like heart health, liver and kidney health, immune system, and metabolism.
00:29:07.000I take Field of Greens to help me stay healthy.
00:31:39.000Give me 30 seconds of where you think really we stand with Twitter not being a crime scene, but actually being a free speech platform, sir.
00:31:46.000Yeah, my view on it is simply that, you know, it's all about if you're going to compare Twitter to some sort of perfect social media platform, it's certainly not that, and indeed very far from it, and there's a tremendous amount of room for improvement.
00:32:02.000But if you compare it to what it was under Jack Dorsey, I think it's pretty unambiguously a major step up.
00:32:12.000See, that's where I disagree violently, because this is the problem we have with Fox News.
00:34:10.000And I know John Solomon are RVs all over this.
00:34:12.000Mike Morrell's admitted that that the whole letter about the Biden laptop from hell was completely these guys trying to protect the Praetorian Guard of our intelligence.
00:34:24.000The senior guys trying to protect trying to protect Hunter Biden.
00:34:30.000And and now we've got a whistleblower over there saying, hey, Merrick Garland is the guy that's suppressing all the investigations of of of of Biden.
00:36:28.000I've gotten a call from the new federal state, but there's something very disturbing and I can't figure it out.
00:36:32.000I got we got Jane, our own Jane Zirkle joins us and Peter and I know because remember Navarro and myself are the only two Americans in history to be held in criminal contempt of Congress and fully sanctioned by the Chinese Communist Party.
00:36:44.000Peter did it because of his many years of being anti CCP, but particularly in the White House.
00:36:49.000Five, two minutes after Biden took his hand off the Bible, the Chinese Communist Party Central Committee put out a list of a handful of Americans that were fully sanctioned.
00:36:59.000I was the first civilian, I think, in history.
00:37:02.000Peter Navarro was up at the top of the list.
00:37:03.000They had Pompeo, Pottinger, but they're playing hardball and smash mouth.
00:37:14.000This is a trial going on in a federal court, the same federal court that Peter and Navarro have been chained up like a dog in the jail underneath it.
00:37:40.000DiCaprio comes for a he gives two hours of testimony in a federal court, an open court.
00:37:47.000And he testifies that Joe Lowe, this billionaire that's now hiding in mainland China under the protection of the CCP that ripped off the people in Malaysia for billions of dollars, was going to put $40 million into the Democratic Party.
00:38:01.000But the entire trial is really around the transfer of money and really about the Justice Department, about the extradition of Miles Guo.
00:39:29.000And it never comes out to about Miles Guo.
00:39:31.000So, Jane, give me a quick summary there and I'm going to get in a cold because this Ministry of State Security guys, these guys are senior guys.
00:39:37.000Their whole thing is to intimidate Chinese nationals here in the United States that are anti-CCP.
00:40:10.000Who took $40 million for a Chinese embassy meeting.
00:40:12.000But the thing that inextricably links the Prost-Michel case and the bombshell release that happened on Monday with these police stations in Chinatown is the effort to get Miles Guo and, of course, the public ministry of security.
00:40:26.000And Prost-Michel met with Sun Lijun, the vice minister of public security for China.
00:40:31.000And Jeff Sessions testified this week that he was well aware of the CCP's want to have Miles Guo extradited and of Sun Lijun's efforts to have Miles Guo extradited.
00:40:41.000And so they refused to let Miles Guo be the victim in all of this, even though these crimes have been prosecuted.
00:40:47.000People have pled guilty to these things.
00:40:49.000You look at the Justice Department's press releases or their filings.
00:40:52.000They won't address Miles as the victim.
00:40:54.000They won't even say his name half the time.
00:40:58.000Or the only coverage that he gets is that he's in jail and he must be this horrible person.
00:41:02.000Or he's best friends with Steve Bannon, so therefore he must be like the devil.
00:41:05.000And Miles is the victim because the Chinese Communist Party at the highest level wanted to extradite him back to China because he was speaking the truth about the Chinese Communist Party.
00:41:34.000The CCP went after the 912 task force.
00:41:36.000That's the day Miles asked for asylum here in the United States.
00:41:39.000They specifically focused because he was telling the truth about the CCP, about the corruption, about the money laundering, about them buying real estate in New York City, about how that Laobai Jing is tortured and tormented and suppressed by all this.
00:41:55.000We have Twitter's banding and won't let him back on.
00:41:57.000You've got all the information coming out of trial, which is blockbuster information, and it's total crickets.
00:42:03.000Outside of Jane Zirkle, you get a Washington Post or Daily Beast every now and again, but there's actually no coverage.
00:42:09.000Well, I also want to say that CNN asked Pras Michel this week what he thought of the charges, and he sort of just schlepped it off saying, oh, well, it's not rape, it's not murder.
00:42:18.000But I want to make an argument that the judicial system neglects to make, and that is if Miles Guo was extradited to China, he would not be alive today.
00:42:29.000And this 100% because he came to the West to say this.
00:42:32.000By the way, he will be one of the few people who has both spent time in a Chinese communist prison and a U.S. prison for speaking the frigging truth in China about China here about China.
00:42:48.000And the amount of money that's involved in this.
00:42:51.000I mean, Jeff Sessions mentioned how the memo that Elliot Brody and Pras Michel worked on did in fact get to his office, and this memo was about extraditing Miles Guo.
00:46:36.000Daily Beast has a very good analysis of President Trump's really, his attack on, his thrust, his attack, his angle of attack on the Social Security and Medicare part.
00:46:46.000And DeSantis' rebuttal, which I've been saying, if you're going to rebut it, you've got to go back to your core beliefs.
00:47:13.000I think what he's doing in the wokeness is amazing.
00:47:16.000I'm not sure that scales right now to what's going on in the world.
00:47:20.000You have politics, World War III, all of that.
00:47:22.000By the way, as part of our special tomorrow morning, we're kicking off the World War III conference the early years tomorrow in Los Angeles, the greater L.A. area.
00:49:17.000All the big people who got the, you know, hundreds of millions of dollars
00:49:21.000or tens of millions of dollars, they walk free.
00:49:24.000None of them spent a single day behind the bar.
00:49:27.000George Hagenbottom was handsomely employed by a global financial company doing active business in communist China.
00:49:34.000And Stephen Wynn and Elliot Brody, they're off the hook.
00:49:39.000It's Mr. Mao Squaw the very target of all of this well-orchestrated political witch hunt and persecution is now spending days behind the federal bar.
00:49:50.000And also, Lu Jian Wang and Chen Jinping, they're the two Chinatown men who were charged on Monday for helping the CCP to set up the police station in lower Manhattan.
00:50:22.000As Lao Bai Jing, and particularly the Chinese people to aspire to freedom, you had in Tiananmen Square you had Lady Liberty.
00:50:28.000What is Lao Bai Jing when they look at the American system, which is supposed to be justice is blind?
00:50:32.000Tell me what Lao Bai Jing thinks about this situation right now, ma'am.
00:50:36.000Well, Mr. Mao Squaw's case and the second denial to his bond request has raised a global concern.
00:50:43.000In China, hundreds of millions of people are paying close attention to Mr. Mao Squaw's case.
00:50:49.000I mean, if America cannot bring justice to Mr. Mao Squaw, the whole world will lose the confidence in America's justice system.
00:50:58.000Because you're sending a very strong signal to the entire world that this country's justice system has been entirely weaponized by the Chinese Communist Party.
00:51:07.000And it means that any foreign government with deep pockets will have so much power than American citizen.
00:51:13.000And, you know, the highest beater will control America's rule of law.
00:51:18.000So that will send strong message, not only to the 1.4 billion people in China, but also to people in Europe, from around the world.
00:51:28.000America will no longer be the beacon of the hope for the entire world.
00:51:33.000You will become a colony controlled by the CCP.
00:51:37.000The reason this is such a threat and the CCP is such a threat is that they've got fifth columns.
00:51:41.000They've got them in Taiwan. They've got them in the United States.
00:51:44.000And I'm telling you, this is unrestricted warfare. And they're at war with us. It's obvious.
00:51:49.000Nicole, how do people follow you on social media? How do they get to the new federal state?
00:51:53.000Follow us on NFSC Speaks on Twitter and Getter. And also visit our website, nfscofficial.com, and join our social media campaign.
00:52:04.000America is not free until Mr. Mao's School is free. Let's free Mr. Mao's School and take down the CCP in the United States of America.
00:52:12.000And Mr. Mao's School already told people many years ago that the swing state or key battleground state of our fight against the CCP is not in Beijing.
00:52:22.000It's not in Zhongnanhai, but here on the U.S. soil in Washington, D.C. and in New York City.
00:52:29.000Wow. Fabulous. Thank you very much, Nicole.
00:52:32.000Your social media, because you're covering this trial very, very closely.
00:52:37.000You can find me at Jane Zirkle on Twitter, Instagram, YouTube, and Getter. And I also want to point out that prosecutors mentioned how Pross Michelle met with FBI agents regarding the extradition of Miles Guo, but did not mention his dealings with Joe Lowe, the wanted businessman.
00:52:53.000How about that? It's outrageous. Real quickly, how did it get to your Substack again?
00:52:56.000PeterNavarro.Substack.com. And Admiral, it's a pleasure.
00:53:01.000Always an honor, sir. It's always great. Great show.
00:53:04.000Charlie Kirk, you're going to get a couple more hours of populist nationalism here on Real America's Voice.
00:53:09.000Keep it tuned to your REV channel right now.
00:53:13.000Charlie Kirk next with The Charlie Kirk Show.
00:53:16.000We'll be back at 5 o'clock and then tomorrow.
00:53:18.000Big special tomorrow about gold, the economy, and the Third World War here in the world.
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