On today's show, Steve and Peter are joined by the great Andy Biggs from the state of Arizona to discuss the key races in the midterms and how they can hold the balance of power in the House of Representatives.
00:00:30.000I wish that any of these people had a conscience.
00:00:33.860Ask yourself, what is my task and what is my purpose?
00:00:37.560If that answer is to save my country, this country will be saved.
00:00:43.960War Room. Here's your host, Stephen K. Band.
00:00:52.980Peter K. Navarro, I'm talking with the great Andy Biggs from the state of Arizona.
00:00:58.920We are giving the overview of the House races and the handicapping Republicans back.
00:01:05.700So, Andy, let's pick up where we left off.
00:01:08.560You mentioned monkeys with flamethrowers burning money yet again.
00:01:15.300McCarthy spending money on Matt Gaetz trying to take him out.
00:01:18.740Any other nonsense like that going on?
00:01:23.300And continue your thread on how we're going to win this majority in the House.
00:01:28.160Yeah, that, you know, if you were one of the eight people that voted for McCarthy to be removed, he was recruiting heavily trying to get people to run primaries.
00:01:38.940He couldn't get anybody to run against me or Tim Burchard out of Tennessee.
00:01:42.260And then he tried to get somebody to run against Eli Crane.
00:01:47.780And the guy they chose was a guy named Jack Smith, of all people, you know, the guy who's been persecuting Donald Trump.
00:02:56.600And so what I would tell you, Peter, what I think is really important is we are seeing as as much as we we might fight each other on policy and stuff like that.
00:03:05.600You you do see there there's one that this guy, Van Orden.
00:03:14.960And but but but but other than that, I'm seeing even even when there was disagreement, we are united because we all know we got to have Donald Trump and you have to have a Republican majority.
00:04:14.420Let me let me make a little money here for the show because we got great sponsors and they deserve our support.
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00:05:28.400All right, so before we bring Joe Kent up at the bottom of the hour, I want to go back to some of the clips that we were going through on the Kamala speech.
00:05:41.740And that speech was, of course, devoid of any policy, but it was really kind of annoying.
00:05:57.420We go to the Project 2025 one there, MD.
00:06:43.400Even though the guy running the Heritage, the new guy running it, has tried to change that zebra stripes, it's impossible to do because the Heritage Foundation is funded by the same kind of globalist corporate types who insure illegals over an open border and offshore to communist China.
00:07:10.660So, since 2016 in the campaign, the Heritage Foundation has been trying to measure the drapes in the West Wing, thinking somehow that they would get hold of the White House and impose their will on President Trump.
00:07:26.500He didn't buy it in 2017 when he came into the White House.
00:07:33.000I remember a couple weeks ago doing a radio show for a new MAGA deal book.
00:07:41.320It was a Christian station, and the guy cited some scripture about how the way you find out what the counterfeit is is by knowing what the truth is.
00:07:56.960If you want to know what the Trump agenda is, the Trump 2025 platform, it's the new MAGA deal.
00:08:05.560Now, we've got a promo code Navarro if you go to newmagadeal.com.
00:08:11.560Don Jr. is offering a nice little discount for it.
00:08:16.560And it's a nice contrast to this project 2025.
00:08:23.560We cannot let Kamala Harris and the Democrats attack President Trump on that crap.
00:08:30.400It's just another one of their big lies.
00:08:32.060Somehow, what they're going to do is they're going to take Project 2025, and there's crazy, crazy crap in there, and they're going to say that Donald Trump supports that kind of crazy crap.
00:09:02.440President Biden and I are working to end this war such that Israel is secure, the hostages are released, the suffering in Gaza ends, and the Palestinian people can realize their right to dignity, security, freedom, and self-defense.
00:09:21.460I have a dream there, Kamala, for the Middle East.
00:09:59.400The reason why there's war there is because these folks have irreconcilable differences that start with Hamas and run straight back to Iran, which you and Joe Biden are funding.
00:10:23.280Bring my chyron up on the Apple podcast, please.
00:10:27.580I want you to go back to the episode where Rick Grinnell was on on the Apple podcast, Play the Damn Thing.
00:10:37.040And he explained that the fruit of that poison tree in the Middle East is Iran, which funds Hamas, which funds Hezbollah, which funds the Houthis in Yemen, who all want to destroy the state of Israel.
00:10:55.740And Donald Trump, according to Rick Grinnell, you go to that podcast, download it, download that, listen to that again.
00:11:14.800Kamala, when you and that idiot John Kerry and that feckless fool Joe Biden and Anthony Blinken give money to Iran and think somehow Iran is going to be our friend.
00:11:35.460And then they use all that money to fund Hamas and have Hezbollah attack Israel from Lamedon.
00:13:36.180The Lord, that's why there's war in the Middle East, because you give money to Iran and you don't understand anything about foreign policy.
00:13:44.580That's why there's war in Ukraine, because of your foreign policy inexperience, Kamala.
00:13:50.240That's why the Communist Chinese are running around the South China Sea, because you don't know jack about foreign policy.
00:16:19.860Somebody exposes the truth just to be labeled a conspiracy theorist, realist, only to be proven right later on.
00:16:29.240Well, let me tell you about the next thing you should be concerned about, government geo-tracking of your phone and other devices.
00:16:35.820We've seen the government use geo-fencing to track the devices of individuals on January 6th, leading to unwarranted arrests without evidence of wrongdoing.
00:16:47.280Stop big tech and government overreach.
00:18:55.240She might be smart when she doesn't read her own reports.
00:18:59.100All right, we're going to bring Jim Rickards in now, and he's going to be Sherlock Holmes and write the case of the mysterious disappearing jobs.
00:19:13.220Jim, what's going on in the job market right now?
00:19:18.780Are they lying to us, or what's going on?
00:19:23.280They're either lying to us or they're grossly incompetent.
00:19:26.820This number that Trump referred to, and by the way, he was exactly right.
00:19:30.260Gina Raimondo, the secretary of commerce, didn't know what the labor department was saying and said it was, you know, fake news or whatever.
00:19:49.160But this had been accumulating monthly.
00:19:50.780So every month they come out with an employment report, and they tell you how many jobs were created.
00:19:55.560But they also revised the prior month.
00:19:58.380So in May they revised April, and in July they revised June, and so forth.
00:20:02.580And every single revision for a year was downward.
00:20:06.320So when you look at that, you say, well, okay, if some were up and some were down, a little bit of statistical noise that's random, okay, it evens out.
00:20:12.620But when every single month is down, which it was, meaning every month they said the prior month we didn't create as many jobs as we told you at the time, even though that's not in the headlines anymore.
00:20:25.600Now, whether it's a statistical model problem or deliberately misleading or fading the numbers or whatever, I mean, one's worse than the other.
00:20:45.000They call companies and say, how many people did you hire?
00:20:47.260But there's something else called the household survey, where they call individual homes, you know, on a survey-type basis, and they say, did you get a job or did you lose your job, et cetera.
00:20:57.220Now, those two numbers should be the same.
00:21:10.340Well, the employer survey is much higher, but sometimes as many as close to a million jobs.
00:21:14.740The household survey has been showing, in certain months, losses of 600,000 jobs, when the employer survey is showing gains of about 250,000 jobs.
00:21:54.100Well, first of all, that's the theory, but there's actually a lot of evidence to back that up.
00:21:57.820The same surveys I'm talking about show that many of these jobs that they claim are created—again, a lot of them weren't—but many of the jobs that were created are going to illegal aliens, and they're predominantly part-time jobs.
00:22:11.480Now, look, there's dignity in all work, so if you've got a part-time job, good for you.
00:22:15.060But these are people who want full-time jobs.
00:22:17.060So, first of all, they're not full-time jobs.
00:22:20.120They're overwhelmingly going to illegal aliens.
00:22:22.580And, yes, they are taking American jobs.
00:22:25.900You're absolutely right about that, Peter, and there's evidence to back that up.
00:22:28.840But in terms of the gap that I was describing earlier, a long time series shows that when the household survey and the employer survey diverge, which they have, the household survey is usually right.
00:22:42.740And what happens is the employer survey starts to drop like a rock, and it converges with the household survey.
00:22:49.180What that means is not only have we been overstating jobs or has there been a gap, but that correction is going to be a severe decline in employment and much higher unemployment.
00:22:58.740That's—apart from the statistical side of it, not to get too deep in the weeds, that's a sign of a recession.
00:23:03.800And there are plenty of other indicators of that.
00:23:07.340Again, you know, the Fed—Jay Powell just gave a speech in Jackson Hole, fine.
00:23:12.460They're going to cut interest rates since September.
00:23:14.040We kind of knew that, but he made it official.
00:23:16.600But there's nothing—interest rate cuts are not stimulus.
00:23:39.440Jim, I got to push back a little bit on that.
00:23:43.100I mean, look, monetary policy, when you lower interest rates, you're going to be lowering credit card debt so people have more money.
00:23:51.680You're going to be lowering how mortgage—I mean, it's true that sometimes they lower interest rates too slowly,
00:23:59.880and you wind up in recessions and depressions.
00:24:03.220But, you know, we can have this debate, and I think it's an interesting one about whether a recession's coming.
00:24:10.680I mean, I'm not seeing that yet because the Harris-Biden agenda continues to pump so much friggin' money that we don't have into the economy.
00:24:21.880I mean, it's the longest—biggest and longest sustained Keynesian overstimulus in the history of our country.
00:24:31.360And I think it's designed basically to ensure the re-election of what they thought was Biden, but now it's Harris.
00:24:40.060So I just—I wouldn't be thinking—and certainly there's not going to be any recession before that election day.
00:24:47.640There's going to be plenty of inflation, but not—I don't know.
00:24:51.300Yeah, Peter, we could debate the stimulus effect of lower interest rates, but we're in total agreement that fiscal policy, meaning deficit spending, more debt, does produce some kind of stimulus, does produce GDP.
00:25:04.220Now, it comes at a very high cost, which is slow growth.
00:25:07.300It does produce—I'm not sure—I mean, the interesting thing about the fiscal stimulus of Biden-Harris is that so much of it is on low-return investments or no-return investments, the woke stuff.
00:25:25.580So even though you'd get some stimulus, you're not getting anywhere near what you otherwise would if it was targeted on public investment that actually had a high return.
00:25:38.880Well, first of all, that's exactly right.
00:25:40.420There's, by the way, a ton of evidence that shows the following.
00:25:43.120The Keynesian multiplier, so-called, is real, but it declines as the debt-to-GDP ratio goes up.
00:25:49.980So at a 30 percent debt-to-GDP ratio, which is very comfortable, you can borrow a dollar, spend a dollar, and maybe get $1.25, $1.30 of GDP.
00:25:58.920But at 90 percent, you borrow a dollar, you spend a dollar, you're lucky to get $1 of GDP.
00:26:05.160You're spending a dollar, and you barely get a dollar of GDP.
00:26:42.860If you go there, we have some video assets.
00:26:45.400We have an ability to subscribe to our flagship newsletter, Strategic Intelligence.
00:26:50.000But what Meltdown24.com focuses on is basically what's going to happen on January 5th, 2025, or sorry, January 6th, 2025, with Jamie Raskin and others using the insurrection clause to disqualify Trump.
00:27:03.760Trump could win more than 270 electoral votes, but then be disqualified by Jamie Raskin and the Democrats.
00:27:09.400So we focus on that and a lot else that's going to happen between now, not just between now and November, but between now and next January.
00:29:31.320I know that a lot of you don't have the time to spend and watch all of the show in real time.
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