Bannon's War Room - Episode 3134： Building Back The Failing Economy

00:00:00.000 this is the primal scream of a dying regime pray for our enemies because we're going medieval on

00:00:09.980 these people here's not got a free shot all these networks lying about the people the people have

00:00:16.580 had a belly full of it i know you don't like hearing that i know you try to do everything

00:00:20.340 the world to stop that but you're not going to stop it it's going to happen and where do people

00:00:23.920 like that go to share the big line mega media i wish in my soul i wish that any of these people

00:00:31.740 had a conscience ask yourself what is my task and what is my purpose if that answer is to save my

00:00:39.680 country this country will be saved war room here's your host stephen k bann

00:00:46.840 hey peter k navarro in for the admirals giving a big speech in one of my favorite states north

00:00:58.320 carolina uh tonight we have a big show for you over this hour my mission um and it's going to take it

00:01:06.000 take some work on your part my mission today um is to help you protect your job and help you preserve

00:01:15.080 your wealth in a time where just today i don't know if anybody was noticing we had um uh the the

00:01:23.880 beginning of what is likely to be an even more significant stock market crash um and we need to

00:01:32.180 understand why that is happening and how you um can protect yourself um we're also going to uh talk a

00:01:40.240 lot uh on the second part of the show uh about uh the mike johnson agenda that big news this week

00:01:48.360 new house speaker as you know um the question is what what does he need to do what should he be doing

00:01:54.880 and i also want to um talk uh about the gaza terror tunnels uh in parallel to the historical parallel

00:02:03.920 in the vietnam war to really once you understand the gaza terror tunnels you understand why this new

00:02:11.280 uh conflict is going to be with us uh in a very dangerous way for a very long time so uh before i

00:02:19.320 get started on the uh the economics and stock market though i gotta congratulate uh stephen k bannon but

00:02:26.900 but most importantly his audience you the posse uh the likelihood of mike johnson winding up as speaker

00:02:37.160 of the house um was near zero uh a few weeks ago and uh it was a long and winding path uh no one in this

00:02:50.980 swampy town here is happier than i am uh to see kevin mccarthy sidelined and i hope he uh he does the

00:02:59.600 japanese version um of what dishonored people do um in america which is uh resigned from his seat never

00:03:08.120 to be heard of again in this town although i'm sure he'll come back to haunt us like jock itch who is a 0.57

00:03:13.640 lobbyist uh he was a bad man uh kevin mccarthy uh he lied cheated his way up the ladder

00:03:20.580 he betrayed us and he's left us with uh some very significant economic problems it's going to be

00:03:27.040 very hard to recover from and you know we went through jim jordan we went through steve calice and

00:03:33.360 all that um but but johnson um i never bumped into him when i was in the white house uh personally but

00:03:41.820 by all accounts he's a decent honest man and is uh pure maga as they get so we'll talk a little bit

00:03:50.220 about that um later on but the only reason why he's there the only reason is because of you

00:03:55.120 because of the calls you made to the swamp uh to make sure that we didn't wind up with an alternative

00:04:05.580 like uh ember uh or others who would clearly um not have been very good so uh i salute you

00:04:13.680 and the admiral the power of this show is it's really um to be part of this show um uh as a posse

00:04:22.480 or as as somebody who has the honor of uh guest hosting once in a while um is really quite something

00:04:29.140 i mean you look at the landscape of the media there's not a really a lot of alternatives out

00:04:34.760 there to get the good hard real truth i mean you have the the cnn's and msnbc's

00:04:41.020 um on the left in in the visual arts as it were you've got uh the new york times uh the washington

00:04:49.660 post um usa today all have their own version of the liberal agenda and certainly uh the wall street

00:04:58.420 journal um has gone over to the murdoch dock side because he owns the paper and it's never trump

00:05:05.380 um so it becomes a real struggle to get the real truth so i count yeah i count count the war room

00:05:13.460 at the top of the food chain in terms of of the kinds of folks steve gets on and and what what i find

00:05:21.040 amazing about stephen k bannon it's not just not just really good experts he gets on you know people

00:05:27.960 like russ vote or dave waltz or uh phil patrick um but but but he finds people uh out in the

00:05:38.460 grassroots who have important truths to speak um and missions to accomplish and and he gets them

00:05:46.140 uh to you and you hear their point of view so big week in maga big week for the posse

00:05:52.060 big week for the war room big week for america all right let's um let's talk about uh the mission

00:06:01.240 here today which is to help you um protect your job and preserve your wealth and you might be

00:06:11.460 17 years old listening to this show you might be 70 um and anything in between but um you do have

00:06:21.120 an economic stake in this nation uh that you have to deal with um likely on a daily basis unless you

00:06:31.720 hit the lottery if you're on the older side uh getting ready to retire or are retired your your

00:06:40.760 nest egg as it were um is under siege from the biden inflation if you're uh younger trying to move

00:06:50.560 up in the job market and the like your wages are certainly under siege from the inflation from biden

00:06:58.600 but um if i'm right um there is likely to be a significant recession coming which is a game of

00:07:10.900 musical chairs at every business where some people are going to lose their job and you have to figure out

00:07:17.220 whether that might be coming and if it is take appropriate protections and so um how do you do

00:07:26.540 that um i spent i spent the the better part of my professional career at the university of california

00:07:33.960 irvine at the business school and part of what i did for a very long period of time

00:07:40.660 was a weekly uh market and economy newsletter um the idea was to handicap what was going on

00:07:50.900 in the um economy and stock market and in my view is that there's a like a synergy

00:07:57.360 between the two i mean if you can figure out what the stock market's telling you about the economy you

00:08:04.160 better predict whether there's going to be a recession or or a boom or something in between

00:08:10.300 and if you carefully watch the economy you can kind of figure out the direction of the stock market and

00:08:17.700 note that this view is this totally contrary to the wall street rhetoric that lures you in often to

00:08:25.900 debacles this is the random walk theory it's the idea that nobody can predict which way the stock

00:08:32.680 market's going which way the bond market is going and the the seduction of that intellectually

00:08:40.260 bankrupt theory is that it gets you to take your money and put it in index funds and forget about

00:08:49.700 it you know so i just put it in there be a passive investor and they'll pat you on their heads they

00:08:55.640 don't worry uh we've seen that every 10 years it'll increase by a nice amount and don't worry about

00:09:02.160 whether whether stocks fall um but um the major hedge funds they don't play that game

00:09:11.580 they short when the market's in the downward trend they go long when it's in the upper trend they get

00:09:17.160 the hell out when it's kind of sketchy and kind of a 50 50 bet and they let you stay in

00:09:24.820 and lose your money uh and lose your money uh and that's the money they make and i've always thought

00:09:30.940 that that it was important for you as a retail investor as or as just somebody who's out in the

00:09:37.780 job market exposed to these economic and financial market risks uh to better understand that environment

00:09:45.940 it's worth taking the time to watch the markets watch the economy every day it doesn't take a long

00:09:54.100 time you spend 10 15 minutes they just look at the financial news and if you kind of know what to look

00:09:59.440 for you begin to get a feel for it um and so uh i've recently uh started back doing this uh this weekly

00:10:09.320 economy and market wrap it's at my sub stack oh well it's the um peter nevar dot sub stack dot com

00:10:16.700 peter nevar dot sub stack dot com and what i do every friday is is kind of do a market summary and

00:10:23.220 at the end of that i always like tell you what i thought i'm not giving you financial advice per se but

00:10:29.700 i tell you what i believe the market trend um is and what uh what what i think uh should best be done

00:10:40.540 with my money for example and so um peter nevar dot sub stack dot com so so back in um back in july

00:10:50.760 um i started this uh in one of my first missives uh basically talked about um the various market risks

00:11:02.420 posed by bidenomics at the time uh the uh stock market um was defying expectations it was in a bullish

00:11:14.060 uh uptrend uh but i saw that bullish uptrend kind of as a magic trick as a levitation it was

00:11:23.080 was basically a function uh of all the the overspending of the fiscal the irresponsible

00:11:31.800 fiscal spending that was jamming a lot of money into the economy the money had nowhere to go

00:11:37.360 uh the bond market was was was in a long prolonged crash uh and so the stock market was benefiting

00:11:46.420 in my judgment artificially from that yet you could see all these kind of storm clouds

00:11:53.660 um out there and so my my counsel at the time uh was that uh the safest thing to do at the time was

00:12:05.060 cash cash cash is king one of my favorites expressions and when i said cash what i meant was

00:12:13.120 you're going into the short-term safe treasury securities that you can get at the five percent

00:12:19.540 yield so you instead of running the risk of losing five ten fifteen twenty thirty percent in the stock

00:12:28.260 market um in these times the idea was like hey just cash and get your guaranteed uh return and so

00:12:40.120 what i've been doing every week peternavar.substack.com and these market wraps on fridays

00:12:45.280 is putting out um kind of a running commentary on what was happening each week in the market

00:12:52.660 and um if you can denver uh let's throw that chart up there now uh which um will show uh kind of what's

00:13:02.840 going on with the s p 500 um looking for that chart denver you there brothers not seeing the chart all

00:13:12.600 right there we go we got the chart there okay so when i talk about the stock market um in the united

00:13:19.940 states i'm talking about the s p 500 that's the broadest market index it's got all the big cap

00:13:28.420 companies um the nasdaq is like kind of the tech heavy side it's a much more speculative narrower gauge

00:13:37.600 to the economy and then the dow jones industrial average which is uh what used to be referred to as

00:13:45.520 the market uh on on the uh the tv channels it's not really that it gives you like a false kind of

00:13:53.460 signal it's only 30 stocks and we're not an industrial economy anymore thanks to china 1.00

00:13:59.580 uh but if you look at this chart this is a one-year chart you can see that uh it peaks that top of that

00:14:08.320 chart it peaks about on july 31st which is about the time i started the newsletter and i started

00:14:15.440 newsletter like i said it was things looked like they were in a bullish uptrend but if you look at

00:14:21.240 that chart you can see that uh it's gone from about 4 600 down to a key support level which it broke

00:14:31.280 today um and so we're going to come back to that chart i'm going to explain the horror that it means

00:14:38.580 for all of us um in the meantime it's peter k navarro in for stephen k banning you are here

00:14:45.300 in the war room and the mission today is to protect your wealth and your job

00:14:51.100 last month the g20 announced a plan to impose digital currencies and digital ids

00:15:05.920 on their respective populations no i'm not making that up that is a fact central bank digital

00:15:12.860 currencies essentially allow the government to track every purchase you make they could even allow

00:15:18.640 officials to prohibit you from purchasing certain products or easily freeze or seize part

00:15:24.940 or all of your money let that sink in for a second in essence they enable the government to take

00:15:33.060 more control over your personal finances concerned americans are diversifying their assets

00:15:38.900 into physical gold with the help of birch gold group if you want a physical asset held in a tax

00:15:45.820 sheltered retirement account you should call birch gold too but learn for yourself text bannon b-a-n-n-o-n

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00:15:59.600 customer if you have an ira or 401k from a previous employer just gathering dust birch gold can help

00:16:06.400 you convert it into ira into gold and you don't pay a penny out of pocket let me repeat that you

00:16:14.680 don't pay a penny out of pocket text bannon to 989898 claim your free info kit on gold then call birch

00:16:22.380 because if digital currency becomes a reality and trust me they're on the path to make it so

00:16:28.500 it'll be nice to have some gold to fall back on it's only work for 5 000 years of mankind's history

00:16:36.700 let birch gold work for you bannon 989898 text it right now here's your host stephen k bannon

00:16:46.680 hey peter k navara in for stephen k bannon you're here in the war room we are talking about today's

00:16:57.900 mini market crash in the wave of things uh to come but before we do that um i always like to put in a

00:17:07.700 big plug for mike glindell mike glindell is uh i mean this man is being tortured uh by the weaponized

00:17:18.320 state here in this country and because he has great products and because of that we need to support him

00:17:27.080 so mypillow.com mypillow.com you can always use uh the code uh bannon's war room and you'll get uh

00:17:36.700 great deals but i personally use the pillow i use the towels uh use the sheets uh and you should too

00:17:47.200 all right let's get back down to business again this is this is a heavy lift it's not as sexy

00:17:53.640 as talking about some of the other issues we talk about but it's really at the heart of the matter

00:18:01.940 of your own personal and financial and professional welfare so let's let's see if you can stay with me

00:18:09.240 on this because today was a big day in america that probably went largely unnoticed uh by most of this

00:18:16.880 country this was the beginning officially of the market crash uh of the biden economy and if you can put

00:18:25.160 that chart back up uh denver um you can see this is before we left the break this is the s p 500 which

00:18:34.080 is the broad market index of the u.s stock market and you can see at the top of the chart uh the the

00:18:42.260 market peaked around the july 31 just about at 4600 it fell below 4200 today which is a big deal for

00:18:54.440 what's called the technicians because 4200 was a key support level once it went below that it fell below

00:19:02.420 what's called the 200 day moving average and that means from a technician's point of view that there's

00:19:10.560 likely free fall below there where it's going to have to fall for a while before it finds its next level

00:19:18.440 of support could be another 10 making a total of 20 i think it could go as high as 30 percent and

00:19:27.100 the way um you take the chart back off now the way i want you to think about this again is this is kind

00:19:33.260 of kind of what what i what i teach and taught in the newsletter uh peter navarra.substack.com

00:19:40.260 it's uh technical and fundamental analysis that the people on wall street use to figure out

00:19:49.540 the best time to be in or out of the stock market okay so what are these two things that the technical

00:19:57.920 analysis is is basically the study of charts and trends so in this case we have a key moving average

00:20:06.880 breach the 200 day moving average and you can see from the chart itself as you draw a straight line

00:20:14.460 through the the wavy curve downward it's a clear downward bearish trend so uh if you're a investor

00:20:22.980 you don't want to be on the wrong side of that uh and so you know there's there's people on wall

00:20:29.600 street that's that's all they do they just they just look at charts they could care less about what's

00:20:34.560 going on in the world they believe that the charts reflect what's going on in the world so they don't

00:20:39.880 need to know um but the best the best folks who do this the best the people who make the most money

00:20:47.540 combine um technical analysis with what's all fundamental analysis now the the core wall street

00:20:56.300 type of fundamental analysis back in the old days is looking kind of just at the company and what their

00:21:03.360 price earnings ratio is quality of their management uh and things like that but what i what i did and

00:21:12.280 had a little bit of role pioneering this kind of thing is take a more macro look at the fundamentals

00:21:19.400 and you can clearly see that when you have like a market trend going down like we have in the s&p 500

00:21:26.820 and you have a breach of the 200 day moving average the underlying fundamentals are what led me to my cash

00:21:33.660 call two months ago to begin with and i would say here

00:21:37.100 that the war room compared to say cnbc bloomberg or fox business does a better job a better job

00:21:50.600 of handicapping the stock market than those other three networks they're supposed to be the experts in this

00:21:58.540 but the problem you have with the cable news financial networks is that they have an internal bias

00:22:06.600 towards being bullish the reason is a lot of the advertising support they get are from the companies

00:22:14.540 who don't want to see their stock price go down so there's there's this built-in bias the other part

00:22:19.960 of the built-in bias on cnbc fox business bloomberg is the fact that a lot of the people who go on those

00:22:28.960 shows are the big money managers the pension fund managers the head fund managers and they all have a

00:22:35.780 vested interest in keeping you the sucker the small retail investor in the market so they don't have

00:22:44.040 to lose money uh with their bigger funds so you you don't get the the real truth from them um

00:22:51.420 steve steve is i mean he's he's a crack financial analyst he cut his teeth on goldman sachs after

00:22:58.480 getting out of the navy and serving this country um and he brings on smart people who who give you the

00:23:05.340 honest truth and the honest truth here is that the fundamental situation um is is the worst i've

00:23:14.660 seen and i was four years in the trump white house with president trump we had clear economic plan that

00:23:21.600 was structurally based it was strategic energy dominance by drill baby drill letting the frackers

00:23:27.360 do their thing um that gave us the ability to influence uh leadership in the oil market pricing oil prices were

00:23:37.800 at least um a third lower on average than they are now and they keep heading up uh we we focused on uh with

00:23:49.320 key war room stars like russ vote on uh reducing the regulatory burden the tax burden and my job of course

00:23:58.080 was to level the the trading field using things like the trump tariffs because if you're if you're

00:24:06.900 running big trade deficits you're basically exporting your production and jobs and that slows your growth

00:24:13.220 as well so we had we had a clear structural plan now um what what happened was joe biden gets in there

00:24:20.680 and and through the same kind of executive orders that i helped the president write he had somebody else

00:24:26.540 writing them undoing pretty much everything we did including the the debacle on the border which is a

00:24:33.160 whole nother topic i could spend another hour on if i had it um but my point here is that everything

00:24:41.240 that joe biden has done through his bidenomics is creating fundamentals for the u.s stock market

00:24:48.980 that are bearish that suggest that there's there's going to be a further market correction as high as 30

00:24:55.880 percent or more and that will be lengthy it will take probably years um to recover from that and it's not

00:25:06.000 going to happen if joe biden gets a second term guaranteed okay now what are some of the things

00:25:11.840 um that i talk about um in the weekly newsletter and again i want to i i i offer this to you um

00:25:21.500 uh free subscription if you want i mean it's it's i'm not trying to make money on you um i'm trying

00:25:28.760 to help you protect your wealth but it's peternavaro.substack.com peternavaro.substack.com

00:25:35.180 and what i what i've been doing each week is kind of talking about each of the fundamental problems

00:25:41.400 we're facing so if we run them down we start with with the worst problem which is the budget deficit

00:25:50.080 we're running that's so far beyond any historical president precedent that it's breathtaking

00:25:57.120 um as steve has pointed out on the show uh it's not 1.6 trillion which is a huge number it's over

00:26:05.420 2 trillion when you really do the math so we're running 2 trillion dollar deficits a year and that's

00:26:13.200 pressing us hurtling uh towards a fiscal cliff and one of the implications just just of going over that

00:26:21.380 fiscal cliff is that in a in a in a high or rising interest rate environment um the debt that we're accumulating

00:26:31.840 is becoming a steadily higher percentage of our gross domestic product and it's well over 100 percent

00:26:41.780 now it's over 120 percent it's forecast to go to 200 percent within a matter of decades

00:26:47.760 and what that means is that that more and more your tax dollars are going not to pay for the roads

00:26:56.580 and the bridges and the medicare and the social security and the national defense and the and the

00:27:02.440 education that the government is supposed to provide to you but rather simply to service that debt

00:27:09.460 and the the even worse part about as much as the debt is held by foreigners so it's like it's like a pure 0.99

00:27:17.460 transfer payment of money out outside this country so it's the money's not not transferred to american

00:27:25.240 citizens where it could be spent here and help with growth it goes out to the chinese the japanese the germans

00:27:31.200 um and and out there right the saudis whoever buys our debt and so that alone just that alone is a recipe

00:27:43.100 uh for disaster and that disaster is unfolding and that's why it's so important with mike johnson as the

00:27:52.700 new speaker that the house republicans draw a line in the sand for debt reduction all right so what we're

00:27:59.040 going to do now is when we come back i'm going to complete the list of all of the fundamental

00:28:05.800 problems we're facing in this country economically which are going to drag us down as well as the stock

00:28:14.520 market so peter k navarro sitting in for stephen k bannon we'll be right back you are in the war room

00:28:22.000 the best financial show political show and show in the country

00:28:28.360 are you prepared for the unthinkable ahead we all need to pray for the best but prepare for the

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00:29:57.640 here's your host steven k bannon

00:30:02.200 peter k navar in for the admiral steven k bannon steve's in north carolina giving a speech

00:30:14.020 if you're there go on down uh yeah look if you're just joining uh the show um what i've been talking

00:30:22.980 about is uh how to protect your wealth preserve your wealth and protect your job in an increasingly

00:30:32.020 dangerous uh bidenomics economy uh the cliff notes for this show may be found at peter navar

00:30:40.380 dot substack.com peter navar dot substack.com that's where i do my weekly economy and market wrap

00:30:47.180 and what's important right now as we speak is that the stock market uh just entered uh bear market

00:30:56.580 correction territory it's lost 10 percent from uh its most recent high in july and it's more likely

00:31:07.540 to lose another 10 to 20 percent than to stabilize and go back up um you won't hear that on cnbc or

00:31:16.560 bloomberg or fox because they don't like to tell you the truth but here in the war room

00:31:20.800 um this is what we do now what i've what i've been doing uh in the earlier part of the show

00:31:27.480 is talking first of all how the technicians saw this coming because of the downward trend in the market

00:31:35.000 and the move towards uh the different moving averages and i'm trying to explain kind of the

00:31:41.720 underlying fundamentals so the first one we went out when it went over is this kind of massive

00:31:46.660 two trillion dollar a year deficit which is just going to cripple the ability of our government to

00:31:53.540 function um in a very short amount of time uh so that's got to be dealt with now the next thing

00:32:00.720 that bidenomics has done uh is turn the strategic energy dominance of donald john trump into a strategic

00:32:10.600 energy subservience follow along here it's like what trump was able to accomplish is make

00:32:17.420 this country the largest oil producer in the world and a net exporter we didn't have to rely

00:32:24.360 on foreigners for our oil anymore and as a practical matter what that meant is that even though

00:32:32.280 and obviously the u.s is not a member of the opec oil cartel we basically were the price leader

00:32:40.280 in the market we could tell saudi arabia what to do uh and we didn't have to worry about but the

00:32:46.740 problem that we've had with joe biden you know the first thing he does is is gets rid of the

00:32:52.480 keystone pipeline i actually helped write the executive order that president trump signed like

00:32:58.720 in the first week of his term back in 2017 to get that thing going and biden unwinds that he

00:33:04.900 canceled all the leasing he's just doing everything he can to shut down the fossil fuel sector and

00:33:11.640 and we've lost our strategic energy dominance we are now strategic energy subservient

00:33:17.160 and one of the things that done has is allowed uh saudi arabia and russia basically to jointly control

00:33:27.700 price leadership in opec and um again in my in my substack i've talked about how saudi needs about

00:33:37.460 eighty dollar barrel oil the way that saudi regime works is it's it's a bunch of small number of rich

00:33:44.700 crown princes running around the world in their in their jets uh sponsoring u.s golf tours um and then

00:33:52.720 meanwhile they've got this restive population that stews with little work to do and what they do is

00:33:58.480 they pay them off with these big social welfare programs so they got to cover those expenses so

00:34:03.600 that's eighty dollar barrel oil and then the russians need about a hundred dollar barrel oil or more to

00:34:09.460 prosecute their war um against ukraine and and their aggression against uh other nations like georgia and

00:34:17.260 things like that um and they're setting prices and not surprisingly uh oil prices are a good

00:34:26.060 fifty percent higher than they were under donald trump um and they're more likely to keep going up and

00:34:36.420 down because of some other things going on in the world such as the hamas israeli war which is broken

00:34:43.300 out so and let's remember here um every time you go to the grocery store and you're wondering why food

00:34:49.440 costs so much it's like the key one of the key inputs two inputs for for for food production is the

00:34:59.100 the fuel that's required to run around the tractors and all that and the trucks to the market but also

00:35:05.280 the fertilizer fertilizer is the key component is is petroleum so we've got that going on with the shocks

00:35:12.900 and the third thing of course is the federal reserve policy which is responding to all this inflation

00:35:19.280 we've got one of the fastest increases in interest rates uh certainly within the last 30 to 40 years

00:35:26.380 uh and the fed uh shows no signs of reducing interest rates anytime soon and that that is is just choking

00:35:38.220 choking off the housing market choking off the auto market um it's you know all the financial deal

00:35:44.960 makers uh in in new york and elsewhere who want to cut deals and do all their wheeling and dealing

00:35:52.560 they think they're the hurdle rate doesn't make it when interest rates are like eight nine ten percent

00:35:58.500 so so that kind of economic activity is grinding down so what we're seeing here slowly is like the python

00:36:06.280 trick right where um these interest rates are gradually offsetting the fiscal stimulus from the deficit

00:36:14.980 spending and the python's winning okay we just had blowout blowout economic growth numbers this last week

00:36:25.920 but but no one believes that that's sustainable because it simply is not and the more likely scenario

00:36:32.080 is if not a recession then certainly um stagnant growth which basically is the same as recession so

00:36:42.320 you know that means lower earnings for corporations and that means lower stock prices ergo you got a

00:36:48.660 falling stock market and don't forget when inflation goes up and squeezes costs that squeezes earnings

00:36:54.900 as well so you got that going on and then there's all these um these massive losses in the bond market

00:37:03.480 and the last two years in the bond market the bond price there's been like a 50 percent losses this is

00:37:09.660 like this is like the quiet gutting um of the financial markets and and the bond market as steve has

00:37:17.860 often pointed out is an ocean compared to a little pond to the stock market in terms of how much the

00:37:23.860 money flows are and that that's like trickled down to the banking sector which holds a lot of its reserves

00:37:30.860 and bonds and no longer has adequate reserves to cover um its deposits and so there's the looming

00:37:37.140 banking crisis um as well as a looming crisis in the commercial real estate sector which you know what's

00:37:45.000 interesting about the commercial real estate sector is that look all of us out there who've ever been

00:37:50.860 able to buy a home is we've done it with a long-term mortgage you don't like you don't borrow like for

00:37:57.820 a year and then turn roll it over and roll it over roll it over you get your 30-year fix and you're done

00:38:04.560 with it right that but that commercial real estate doesn't do that they do everything short term uh and

00:38:11.140 roll stuff over it's that's just a practice in the industry and what's happening now is a lot of the

00:38:16.840 debt they have um is it at really low interest rates and then they got to roll it over into five

00:38:24.580 percent and it's like it's killing them because it's coming at the same time that their vacancy

00:38:30.160 rates have crashed because of all the impacts of the pandemic and the whole structural shift

00:38:37.800 to um to to work at home and and all of that so uh and then the last you know again we're talking

00:38:45.240 about the the fundamentals okay remember when you try to predict where the stock market's going

00:38:51.080 you can look at the charts like the technicians do or you can look at the fundamentals including

00:38:55.920 the macro fundamentals i think you look at both that's what i preach in the in the newsletter

00:39:00.960 peternavaro.substack.com and the last fundamental thing you have to overlay on top of this is all

00:39:08.100 the geopolitical risks that are out there you got the the hamas israeli war which could balloon into a

00:39:15.440 lebanon hezbollah israel iran war um which could draw in god help us but biden is stupid enough to 0.76

00:39:24.720 allow this to happen they could drag the u.s into it i mean we already got too much out there

00:39:30.200 uh that could implicate us in in a hot war um so bottom line um if you're going to

00:39:40.080 preserve your wealth protect your job you need to be financially market literate that requires

00:39:48.960 paying attention each week i try to do my part with the the weekly market wrap on fridays peternavaro.substack.com

00:39:57.920 but but i urge you um to read with with with skepticism because this is all you got out there

00:40:06.300 is you know the stuff like the the financial press the bloomberg the yahoo finance

00:40:11.480 go read cnbc and stuff like that but just remember they they want to their bias towards bullishness

00:40:19.720 and you need to be able to penetrate that bias um to protect yourself and so um

00:40:27.280 this macro situation if everybody on capitol hill kind of understood this macro situation

00:40:35.680 it would make life a little bit easier which is kind of my segue to talk a little bit about

00:40:40.780 the mike johnson agenda uh we need first and foremost uh significant debt reduction

00:40:50.360 for any agreement to lifting the debt ceiling okay so from a purely economic point of view

00:40:58.420 that needs to be priority number one now priority number one b needs to close our southern border

00:41:08.020 um that's non-negotiable that needs to be non-negotiable and i hope mike johnson and and and the republicans

00:41:16.740 will hold firm on this as an entire unit and caucus because the border is doing a number of things one is

00:41:26.220 it's it's driving down the wages of america number two it's causing absolute chaos across america as

00:41:34.200 millions of millions of illegals stream into our country number three it's increasing exponentially our

00:41:42.060 geopolitical risks uh because of the bad people that are coming across whether it's military age

00:41:53.900 um islamic um terrorists uh whether it's mexican drug cartel sex traffickers um these are bad people 0.90

00:42:03.420 coming into the United States.

00:42:06.140 And, you know, if you if you did, they're not bringing our values, they're bringing

00:42:12.060 problems.

00:42:12.700 And the Tlaib and the Congresswoman Tlaib, who is just absolutely critical of the state

00:42:27.360 of Israel to the point where she condones Hamas beheading children without blinking an 0.55

00:42:35.120 eye, I think tells you in a in a in a microcosm the problem you have when when immigrants come 1.00

00:42:43.000 in and don't assimilate into this country.

00:42:45.380 I mean, she's in a district where you would say to yourself, how the hell does she get 0.99

00:42:49.900 reelected with with the kind of policy she's advocating?

00:42:53.480 It's like it's godless, it's it's extremist, it borders on Islamic terrorism. 1.00

00:43:01.080 And yet she won reelection and now she's she's just so. 0.98

00:43:08.180 But but the problem is she's in kind of effectively the own version in Michigan, apparently, of

00:43:14.980 the Gaza Strip, albeit with all the comforts of American democracy. 0.61

00:43:19.540 policy. And there it is.

00:43:23.500 So I hope I hope somebody challenges her next time around.

00:43:28.180 But this is one of the problems we have.

00:43:30.100 All right. I'll be right back for the last segment.

00:43:34.040 We're going to have Joe Allen close out.

00:43:37.260 I'll talk a little bit more about the Mike Johnson agenda before that.

00:43:42.420 And Peter Canavaro, always an honor to be with you, the posse who did such a great job

00:43:47.500 this week, getting us a new speaker for the world of Hong Kong.

00:43:52.100 We will fight till they're all gone.

00:43:54.440 We rejoice when there's no more.

00:43:56.320 Let's take down the CC.

00:43:58.860 I am the last person on earth to nag about your diet. 1.00

00:44:03.540 I think you can see I don't always make the healthiest food choices either.

00:44:08.180 But I will share that the Mayo Clinic says if you want to help prevent heart disease, lower

00:44:15.140 blood pressure and cholesterol, eat five servings of fruits and vegetables every day.

00:44:22.160 I don't.

00:44:23.740 And you probably won't.

00:44:25.340 That's why I take Field of Greens every morning.

00:44:28.680 Unlike the others, each fruit and each vegetable and Field of Greens was medically selected by

00:44:34.000 doctors to support your vital organs like heart, lungs, kidneys and immune system.

00:44:39.700 Flu season is here and I trust Field of Greens to help me stay healthy.

00:44:44.400 Field of Greens works fast.

00:44:45.740 You feel better with more energy and you'll notice your skin, hair and nails will look healthier too.

00:44:53.060 If you don't always eat right and exercise, join me and take Field of Greens.

00:44:57.720 Now let me get you started with 15% off your first order.

00:45:00.720 Visit FieldofGreens.com and use the promo code Bannon.

00:45:05.680 That's promo code Bannon at FieldofGreens.com.

00:45:09.160 FieldofGreens.com.

00:45:10.540 More energy, you'll look better, you'll feel better and you'll get what the Mayo Clinic says

00:45:16.360 is what you need in fruits, in vegetables every day.

00:45:22.320 FieldofGreens.com.

00:45:24.900 Code Bannon.

00:45:26.520 Take agency, do it today.

00:45:28.740 Action, action, action.

00:45:30.720 Here's your host, Stephen K. Bannon.

00:45:40.040 Hey, Peter K. Navarro in for Stephen K. Bannon for the big finish here in this hour.

00:45:45.320 It's been a great pleasure being with you.

00:45:48.160 I want to finish up a few minutes on the Mike Johnson agenda and then we're going to bring in

00:45:52.900 our esteemed Joe Allen.

00:45:54.560 He's going to tell us about an exciting new tour that's coming up.

00:45:59.280 But at the end of the last segment, I talked about the need at the top of the charts for the House Republicans.

00:46:08.580 They cannot, they cannot approve an increase in the debt ceiling without significant debt reduction and without ensuring a closure of the southern border.

00:46:20.800 Those two conditions, they need to hold firm.

00:46:22.920 I don't care how long the government gets shut down, folks.

00:46:25.980 Those conditions need to be met because if we don't solve that debt problem, it's going to bury this country.

00:46:33.760 And if we don't solve that border security problem, it's going to destroy this country.

00:46:40.000 So those are two biggies.

00:46:42.480 But I can tell you how disappointed I have been with the rest of the Republican effort.

00:46:51.720 And Mike Johnson really needs to get that jump started.

00:46:55.720 There's there's the alleged committee that my good buddy Mike Gallagher is running.

00:47:02.080 I was impressed with him when I met him during the Trump administration.

00:47:05.080 But that committee is going nowhere so far.

00:47:07.660 Meanwhile, China is having his way with Joe Biden and the rest of this world.

00:47:12.480 And the other thing directly to you, Speaker Johnson, you, sir, are a constitutional law lawyer.

00:47:22.200 And it has been absolutely crickets in the House Republicans in terms of saying anything about that unduly authorized,

00:47:35.000 this illegally formed J-6 committee that had as its primary mission not to uncover how J-6 happened.

00:47:44.120 Oh, spoiler alert, it was FBI informants and Nancy Pelosi, but rather to simply try to put Donald Trump and people like me and Steve Bannon in jail.

00:47:55.400 And you, sir, and you, sir, and the Republicans need to get off your butt and have something to say about that committee,

00:48:04.640 because so far it's been crickets and crickets means that they are getting away with that.

00:48:11.640 So, um, get it done, sir.

00:48:15.400 All right.

00:48:16.200 Um, always a pleasure to see Joe Allen and, um, Joe, I, you're brilliant, man, because I, I, I, back in the day when I was doing books and I was younger and I had your energy,

00:48:29.360 I never had the energy or idea to do what you're about to do, but you're about to go out on a speaking tour and with a bunch of books in your car and you're going to do book signings.

00:48:42.840 And I want you to tell the posse right now, the dates, where are you going to be and how they can come see you and buy one of your books, sir.

00:48:52.260 Peter, I really appreciate it, man.

00:48:53.960 Um, I wish you could make it out, but it's, it's kind of a long haul from here.

00:48:57.660 Yes.

00:48:58.380 Little Rock is, yes.

00:49:00.060 Yeah.

00:49:00.960 Um, the first stop will be November 5th, Indianapolis, Indiana, Life Point Church.

00:49:06.780 Next stop, November 8th, Pittsburgh, Pennsylvania.

00:49:10.180 It's at a place called Al's Cafe.

00:49:11.800 Very nice, big venue, uh, free food too, by the way.

00:49:15.840 As you go to the third one before that, tell people where they can go on the internet.

00:49:20.640 Oh, yes.

00:49:21.420 Yeah.

00:49:21.600 If you just want to have a look, JoeBot.xyz, right at the top of the page.

00:49:27.260 Or warroom.org under the transhumanism tab has the tour dates.

00:49:32.520 And of course, I'll be updating it going along.

00:49:35.200 Some things are to be determined, but it's set.

00:49:38.480 Uh, the really big one though, Peter, uh, Nashville, Tennessee, December 15th.

00:49:43.400 Kind of, you know, I lived in Nashville for many, many years, kind of a hometown thing.

00:49:47.840 So very much looking forward to that.

00:49:49.380 That one is ticketed.

00:49:50.680 You can get.

00:49:51.160 You know, let's, uh, let's get you, see if I can get you on Huckabee.

00:49:55.260 Oh, that'd be great.

00:49:55.960 So, uh, I'm doing Huckabee, um, November 10th and doing that show, um, was one of the great

00:50:05.700 joys of my life because it's such a cool set.

00:50:08.980 I don't know.

00:50:09.340 It's out on the, um, it's out on the, the, the, the ranch where one of the great country

00:50:14.160 stars, where they got this big kind of like old Opry kind of grand theater.

00:50:18.040 And I think this would be right up, right, right up, uh, Mike's, Mike's alley.

00:50:23.620 So, uh, let's see if we can get that done.

00:50:25.420 You know, uh, coincidentally, uh, his daughter, uh, a friend of mine, uh, was riding next to

00:50:30.700 her on the plane and gave her a copy of my book.

00:50:33.060 So maybe she's primed for whatever reason.

00:50:35.380 It's very embarrassing.

00:50:36.080 I cannot remember her first name.

00:50:37.080 This is the governor.

00:50:37.820 Yeah.

00:50:38.100 Yeah.

00:50:38.340 Yeah.

00:50:38.440 Please, please recall her name so that we can say it and she'll forgive me.

00:50:42.140 Yes.

00:50:42.620 Okay.

00:50:42.900 Um, but anyhow, uh, yeah, Nashville, Tennessee, Phoenix Lodge.

00:50:46.700 That one's ticketed promo code Joe bot.

00:50:49.560 Uh, you don't get a pillow, but you get a discount.

00:50:51.800 J O E B O T B O T. 1.00

00:50:53.700 That's right.

00:50:54.480 Um, I'm a programmable and a repetitive like a robot.

00:50:59.760 Um, uh, next stop, Kansas city, Missouri.

00:51:02.600 Uh, that's November 18th.

00:51:04.800 Again, uh, probably some free food.

00:51:06.600 Just buy a drink and, uh, Dallas, Texas.

00:51:09.660 After that, that's the 19th of November.

00:51:12.700 And then a few dates in between not yet set.

00:51:15.460 Big one, December 2nd in Los Angeles.

00:51:19.180 That's the American freedom Alliance with Karen Sigmund.

00:51:22.700 And, um, that'll be a big one.

00:51:24.500 It kind of a literary cafe.

00:51:25.780 She runs these things, uh, should be fantastic. 1.00

00:51:28.240 And then ending it off in to Larry, California.

00:51:32.480 Uh, I mispronounced to Larry a couple of days ago and all the people from to Larry quickly

00:51:39.280 came to the defense of the, their city's pronunciation.

00:51:42.920 So yeah, I'll be there with, uh, uh, Clay Clark's, uh, reawakening.

00:51:46.480 I was going to say, Clay's going to to Larry.

00:51:49.220 I'm thinking that's pretty random.

00:51:51.120 Yeah.

00:51:51.320 No, no, that's it.

00:51:52.220 That's it.

00:51:52.580 Yeah.

00:51:52.760 Yeah.

00:51:52.960 Yeah.

00:51:53.160 Yeah.

00:51:53.320 I just did, uh, I just did, did the Clay Clark, uh, Doral, uh, tour.

00:51:58.800 I, you know, Clay, Clay and Mike Flynn are, they're, they're two of the best Patriots,

00:52:03.420 uh, in the country right now doing a great rally.

00:52:06.120 So that, that should be cool, man.

00:52:08.060 I'm looking forward to it.

00:52:09.200 Yeah.

00:52:09.420 Yeah.

00:52:09.680 Very much so.

00:52:10.480 So, uh, look, posse, uh, you just heard all the dates go to the website.

00:52:16.100 Um, I want to make sure that Joe doesn't have to sleep in his car.

00:52:20.160 He at least gets a motel six.

00:52:21.620 So show up, buy his book.

00:52:24.280 And, um, it's an amazing, it's look, here's the thing.

00:52:27.900 It's like, I told you this the last time you were on, it's like, I never could figure

00:52:30.820 out what the hell Steve was doing.

00:52:32.220 It's like, what are you talking about?

00:52:34.000 Transhuman and this, that, the other thing.

00:52:35.700 And as usual, Bannon was about a year ahead of everybody.

00:52:39.720 And now this is like at the heart and soul of the problems that we got to worry about

00:52:46.360 in the future.

00:52:47.180 So nobody knows this better, uh, than Joe Allen.

00:52:51.460 Um, give me your last word, uh, where I'll give the website once more and then I'll,

00:52:56.640 and I'll say goodbye.

00:52:58.420 Well, come out, give me your hardest questions.

00:53:00.600 And I look forward to seeing you face to face, uh, Joe bot dot X, Y, Z list right at the top

00:53:07.100 or war room.org.

00:53:08.860 My social media at J O E B O T X, Y Z. 0.99

00:53:12.160 You can find the link there.

00:53:13.980 All right.

00:53:14.460 Peter K Navarro, uh, for Steven K Bannon, uh, Peter Navarro dot sub stack.com.

00:53:20.120 Peter Navarro dot sub stack.com.

00:53:21.860 Preserve your wealth, protect your job, watch the war room.

00:53:25.780 You take care.

00:53:26.800 Have a great weekend.

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Bannon's War Room - October 28, 2023

Episode 3134： Building Back The Failing Economy

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