Bannon's War Room - Episode 3905： Rise Of The Debt Spiral

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

00:00:10.240 medieval on these people here's not got a free shot all these networks lying about the people

00:00:16.840 the people have had a belly full of it i know you don't like hearing that i know you try to do

00:00:21.020 everything in the world to stop that but you're not going to stop it it's going to happen and

00:00:24.360 where do people like that go to share the big line mega media i wish in my soul i wish that any of

00:00:32.200 these people had a conscience ask yourself what is my task and what is my purpose if that answer

00:00:39.300 is to save my country this country will be saved war room here's your host stephen k band

00:00:54.360 welcome back sophia george's um before the break you're just telling me about um the the increase

00:01:01.060 of house prices in the battleground states that's obviously going to hit uh in these six key six

00:01:08.440 swing states that's obviously um uh going to hit people and leave them less disposable income and

00:01:16.900 the figures that you're you're cycling through are horrific but that's not the only way people are

00:01:22.780 being hit because what money is left in their pocket is increasingly worth less because of

00:01:29.680 inflation consumer price inflation tell me a bit about if you will um about this nationally

00:01:35.700 sure the consumer price index number came out last wednesday and it showed the smallest increase and uh

00:01:43.520 since january of uh 2021 which was um it only went up 0.2 percent and overall through the year 2.5

00:01:50.900 but it's not a sigh of relief because um the measure of consumer price index is a measure of

00:01:57.920 the cost of goods and services that households use and 70 percent of this overall number is attributed

00:02:04.440 to the housing market and what we're seeing in the housing market are these soaring home prices and we

00:02:10.500 actually saw the largest increase this past month of 0.5 percent and that was for rent and for purchase

00:02:16.880 of a home so we're not seeing any end in sight to this housing affordability problem so this consumer

00:02:23.240 price index number that we're seeing although on the surface they may try to say that this is a

00:02:28.580 positive number it's an indicator that inflation is under control uh but really when you break it down

00:02:34.600 and you see that 70 percent of that number is attributed to housing it's still a source of um to be

00:02:41.200 cautious um to to see that inflation is really not um under control until we get the housing affordability

00:02:50.080 under control um like we were saying in the battleground states um we also see you know in

00:02:56.220 in atlanta in particular in georgia i mean home price is going up 65 percent over the last couple years

00:03:02.320 and rents 38 percent um arizona being one of the least affordable states for homebuyers um affordability

00:03:10.220 has dropped by 29 percent almost just in the past couple of years so um throwing money at a situation

00:03:18.260 with this uh you know giving people money for down payments um lowering the interest rates is really

00:03:24.080 not going to cut it um if people cannot afford to live unto in a home giving them money to be able

00:03:30.580 to afford a down payment is not going to help them it's just going to cause an increase in foreclosures

00:03:35.240 an increase in a rent arrears because they're not going to be able to afford to be in that home

00:03:39.460 um it's important to look at it that it's multifaceted um looking at it through a wide lens

00:03:45.460 and not through a myopic view it's not one solution it's going to take fiscal responsibility

00:03:50.860 uh with government spending with revenue coming in with increase in wages um so it's going to need a

00:03:58.200 complete overhaul to really show a um an improvement in the satisfaction of consumers in the housing market

00:04:06.800 um i pushed out on getter uh i think it was last week about 10 days ago perhaps uh an article in the

00:04:14.260 wall street journal um with the headline that americans are working two jobs and they're still

00:04:21.400 not able to make it to the um to the end of the month uh there aren't enough hours in the day i think

00:04:28.900 and i think your your your breakdown here that's almost word for word something i've said actually

00:04:33.820 by the way sort of repeatedly on on this show over a number of years um but i think your analysis here

00:04:41.680 um is a good um explorer for people to you know from a technical point of view of why they had so

00:04:49.780 little money in their pockets sophia georgias thanks for coming on the show briefly before you go where do

00:04:54.320 people go if they want to um keep up to date with your analysis sure they can go to my website

00:05:00.920 real sophia realestate.com i have all my handles there if you go under media you'll see i have links

00:05:06.340 to my podcast i'm on rumble now uh you can find me if you go to real sophia i've got the podcast there

00:05:11.440 i break down these um numbers but um thank you very much for having me today i think it's a super

00:05:16.720 important issue and it's really become a huge factor in the upcoming election so i hope people

00:05:21.500 take note of it and make the best informed decisions absolutely is sophia many thanks

00:05:26.800 indeed god bless thank you well thank you well um something that i think steve bannon uh was

00:05:34.180 mentioning so many times now uh that every hundred or so days a trillion dollars is being added on to

00:05:42.540 the national debt well folks your national debt now stands at i think 35.3 trillion dollars

00:05:50.140 um and as we all know anyone who's ever had a personal overdraft with the bank you have the

00:05:55.680 debt you have the principal but then you've also got to pay it off right um that's just the same as

00:05:59.940 for for nations as it is for individuals um so how much americans are you paying to service

00:06:09.200 your national debt which then my next guest is going to break down

00:06:15.940 these figures that when i saw them this morning i thought someone somewhere is having a joke

00:06:22.320 here rich good morning what's the headline figure here how much are you i i gather new record

00:06:27.540 has been made um tell me about it yeah no good good morning thanks for having me on no it's horrific

00:06:35.380 so i mean the national debt itself is about 265 000 per american household i often refer to it as

00:06:43.380 america's second mortgage it's a it's about the size of a mortgage and it's on a house that not

00:06:48.380 only do you not own do you not have equity in but the government built and lit a match to and that

00:06:52.860 represents stolen work out of the economy stolen investment that can't go to more economic growth

00:06:58.580 but you know what you were just talking about there we've now paid as americans over a trillion

00:07:03.820 dollars this year so far in interest payments on that debt so you know we're looking at by the end of

00:07:09.640 the year per american household having spent something close to a thousand dollars just on

00:07:16.000 interest payments just on the federal debt per household i mean it's horrific this is already the

00:07:21.460 debt spiral rich rich i i've got to do a steve banner here whoa whoa whoa um let's have that figure

00:07:29.600 again right this is their figures out for august this is how much america has paid signal paying off

00:07:36.880 its debt this is simply to service the debt interest repayments for for for for tell me what is the

00:07:46.460 the annual this is like uh annualized right um what is the the figure now on the current trend

00:07:53.200 of of of where you are according to august i think that the fiscal year is like from from september to

00:07:58.620 what is it uh september to september or something so you've got another two months uh tell me

00:08:04.920 what's that what's that headline figure once again one trillion yeah end of september the end of

00:08:10.700 september we're over a trillion dollars right now but we are headed to on an annualized basis

00:08:16.300 about 1.2 almost 1.3 trillion so that's a thousand dollars a year per american household just on interest

00:08:23.540 payments just to rent the money we've already borrowed can i um can i break that down right uh

00:08:30.920 that is to say on current trends on current trends by the end of the the the fiscal year by the end of

00:08:35.920 september you're um it's going to be like 1.3 trillion dollars on interest

00:08:41.060 repayments not paying down the debt just just servicing like having a credit card right just

00:08:49.700 servicing the debt is uh over over over the course of the year it will come out about 1.3 trillion

00:08:56.440 dollars how much money is how much money is that well here's the thing here's the breakdown that would

00:09:04.740 be more than the united states spends on defense more than you spend on income security health

00:09:14.800 veterans benefits medicare it will be the second biggest outlay for the u.s government right that is

00:09:25.340 that is how much money we're talking about um and on current trends if you actually make if actually

00:09:35.900 hit that sort of um 1.6 trillion by the end of the year that new record it will be your the largest

00:09:42.240 outlet you outlet you will you america will be spending more money on servicing the national debt

00:09:49.440 than you will be spending on any other single budget item wow that is what you get folks i'm going

00:09:57.280 to pick up the themes when i said it in the last segment that is what you get when you have the

00:10:01.920 adults in the room the normalcy that's what they promised you this is what you've got right this is

00:10:08.920 what you've got um it's a project of the democrats isn't it it's a turn north america into south

00:10:17.540 america and it is um it seems to be accelerating tell me something um what i haven't read rich in in

00:10:24.440 the the the background of all this is the d word is anyone talking about a potential default

00:10:32.140 well i think what you're already looking at is we're already in the death debt spiral right

00:10:37.860 to your point when you're looking at a budget where the second largest line item perhaps the largest line

00:10:43.320 item in a minute here is going to be just interest on the debt you're already in a debt spiral right

00:10:48.500 the the congressional budget office's estimates are that over the next generation by far the leading

00:10:54.520 contributor to new debts is going to be interest on the debt so now here's the rub on this so and i

00:11:00.140 think this is the crucial part of this why are mortgage rates so high why have they been so high

00:11:05.600 because of the deficit because of the interest payments from the government there's a finite amount

00:11:10.220 of money in money markets and so the government is quite literally eating everybody else's lunch in

00:11:15.560 those markets so it means that if you're a small business wanting to get your hands on money you

00:11:20.140 can't if you're a prospective homeowner wanting to get a mortgage you can't because it's going to the

00:11:24.740 federal debt and deficit so that question of default gets to this heart of this matter that i think is

00:11:30.220 very important for everyone to realize here there's no physical way for the u.s government to default

00:11:35.700 on dollars the dollar the government has the absolute constitutional right to shoot whoever

00:11:42.240 wants to get tax money or to print as much money as it wants at the federal reserve so it is actually

00:11:48.400 a constitutional requirement of the government to either jack up taxes or inflation taxes on whomever

00:11:55.720 it needs to to satisfy its debts now will the dollar lose all value in markets will people stop using

00:12:02.640 the dollar that's what we're risking here maybe not tomorrow but somewhere over the next decade

00:12:08.060 because of just how large the deficits are how bad the trajectory is and so keep in mind you know

00:12:13.740 gold prices are setting records and this is why because what people are anticipating is wanton reckless

00:12:19.900 increases in taxes and money printing to satisfy this unworkable situation we have to cut the government

00:12:26.700 spending we have to do it now rich dan can you um if you can't had uh respond to this before the break

00:12:35.300 we've got two minutes coming up if you can't just we'll just hold hold on and finish this on after the

00:12:39.780 break but just can you give the war in posse an idea of something here so you said that the average

00:12:44.480 household is spending the average household or the average individual is spending a thousand dollars per

00:12:50.520 year simply on servicing the interest on the national debt right where does that money go to whom right

00:12:59.960 if american taxpayers and um the austrian economists often like to to say not entirely erroneously that

00:13:10.220 the federal government is really basically a glorified tax collection agency um for private interests

00:13:17.800 but just to put that to the side for this discussion if individuals are spending a thousand dollars

00:13:24.360 a year on tax servicing that debt who gets that money so a good chunk of it goes overseas right

00:13:33.340 there's a large chunk of u.s debt that is held in china japan places like that so some of that money

00:13:38.380 is going abroad that way but the other place that money is going is frankly to other americans but then

00:13:44.060 if you think of it like this it's a wealth redistribution program from people who are working

00:13:49.460 in wage earners now to people who are older who have savings who worked in the past right it's a

00:13:55.200 wealth transfer from those that are young without money to those that are old with money but you know

00:14:01.620 more than that right most of the time when you make investments you pay interest off of that it's a real

00:14:07.280 investment in productive assets there's a company that's built a new factory there's a builder that's

00:14:12.680 building new homes and the debt represents their business activity here you're just feeding the

00:14:18.200 beast that money is being used to hire di agents to shut down churches and raid small businesses

00:14:24.280 and then it's a wealth transfer on top of that so it's just bad money chasing more bad money again

00:14:30.160 harming the american middle class that's perfect rich thanks very much listen uh where do folks go

00:14:36.960 you're doing excellent work at the heritage foundation well where do folks go in 10 seconds

00:14:41.360 to just keep up with your analysis well thank you so much you can find me at rich a stern on twitter

00:14:47.020 you can of course also look up my bio on heritage.org and that of all my colleagues and see all the

00:14:51.960 pieces we've written and thank you again always a pleasure to be on rich thanks very much we'll be back

00:14:57.200 in two minutes it's obvious the unthinkable continues most americans know something is very

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00:16:07.560 go there today action action action here's your host steven k band

00:16:14.480 welcome back hornwell here at the helm filling in for steve bannon um brian costello good morning to you

00:16:27.360 i note that there has been somewhat of a kerfuffle between two individuals neither of whom

00:16:35.320 are particularly esteemed on the war room um and this is with china right uh and the the appropriate

00:16:45.160 containment strategy to follow on the one hand if you imagine this like a wrestling ring or a boxing ring

00:16:51.560 on the one corner you've got foreign affairs uh chairman michael mccall whom we don't like on the

00:16:57.520 war room uh but on the other hand we've got financial services chairman uh patrick mchenry um who

00:17:03.800 between the two of them is probably the more loathsome um and they and their respective committees have

00:17:10.300 different approaches to how to handle china um tell me a bit this week's been a special week for china

00:17:17.820 tell me a bit about the difference in policy between these two committees because whilst i think

00:17:23.900 it's fair to say on behalf of the war room posse a pox on both their houses um it doesn't necessarily

00:17:29.860 indicate that we don't have a dog in this particular fight of the two positions yeah let's let's talk

00:17:36.420 about i mean in this particular case we're not on the side of the little bow tie wearing treasonous man

00:17:43.060 that last i use that last word man lightly um patrick mchenry who's house financial services

00:17:50.500 company or committee has been uh trying to hold up successfully i might add and he's been doing this

00:17:58.500 for almost two years now since he's been chair of the house financial services committee restricting

00:18:03.500 investment into china um so what they want to do is they want to create a new organization

00:18:08.600 and he fought this back they were trying to put this back last year in the national defense

00:18:13.480 authorization act and there were 91 senators and he single-handedly pulled it out of the bill so what

00:18:20.220 he's trying to do is basically keep open investment into china and not have it run through a process and

00:18:27.300 he's been battling with mccall who's on the house foreign affairs committee who they've been supposed to

00:18:32.720 kind of put this bill through and it was china week in washington this week and there it was one of the

00:18:37.240 things suspiciously absent they weren't able to get anything done and i and i know the posse knows

00:18:42.880 we've we've done a lot of mchenry he's a lame duck so here you have a guy leaving washington

00:18:47.600 91 senators are on board with this and he single-handedly is keeping the investment door

00:18:54.100 open for wall street into china because i guess that's the strategy about the revolving door

00:19:01.060 between the lobbyists and congress he's going to leave congress and he's going to straight in

00:19:06.620 um on on the other side of the pig trough get his snout in there um so so basically you're saying

00:19:14.340 on on this particular issue the war in policy might more want to support the the position of mccall

00:19:21.380 um on the foreign affairs committee tell me about how that difference breaks down because my understanding

00:19:26.200 of this and also could you say a bit about the china week and what it is and why it's useful

00:19:31.100 for the ccp and what it tries to um to get out of that but my understanding of this difference in

00:19:37.740 policy is that uh mchenry is is hiding behind the argument that he wants more targeted um sanctions

00:19:45.800 being applied because uh companies don't necessarily know whether you know what their position is whether

00:19:51.540 they're able to to trade with china or not uh whereas mccall wants a more a more is is in favor of more

00:19:58.880 blanket tariffs more blanket yeah yeah is that about right yeah the different so the difference is

00:20:06.140 what today the burden is on the u.s government to find a company and restrict it and mchenry is saying

00:20:12.400 that's working just fine he wants to keep that and what the new legislation does is the new legislation

00:20:18.220 puts the burden on the companies to the companies and the investors this is mostly you know private

00:20:24.480 equity hedge fund public investors who are uh to report to the government when they're actually

00:20:30.200 making an investment in china uh and it kind of reverses the game and then they would put an

00:20:34.780 organization in place and what they call an outbound syfias that kind of looks you know and as we get into

00:20:40.260 these strategic areas like artificial intelligence semiconductors autonomous technologies and these

00:20:46.420 things had broad use across both the private sector and the military sector and in the lines blur this

00:20:52.400 becomes much much much more important and what i would also add ben to what the viewers need to

00:20:57.640 understand is this vehicle which is u.s elite investing in china is one of the vehicles that's used

00:21:06.540 to buy off politicians in washington so you have people like michael moritz a big democratic donor for

00:21:13.420 biden harris who has made substantial china investments through his venture fund and that money flows back

00:21:20.800 into a non-profit called crankstart out of san francisco and that supports a bunch of democratic uh

00:21:27.980 slush fund initiatives including immigration voting through different groups uh and so this is a vehicle

00:21:34.340 used to buy off dc so it's very concerning that here's mchenry basically fighting putting some

00:21:40.580 restrictions on the vehicle the chinese government uses to buy off washington

00:21:44.540 mchenry's um kevin mccarthy's poodle right um tell me has a what what how useful in this debate has

00:21:55.780 mike no johnson johnson been uh has he taken a public position between his two lieutenants

00:22:03.320 listen you know this there's only certain times they get uh you know legislation pushed through right

00:22:11.700 it seems like there's a big push here because they're all trying to win elections to show i did

00:22:15.420 this and that and to have a lame duck head of the house financial services committee which is an

00:22:20.820 important committee who's looking at important things like this i think is you know outrageous

00:22:24.800 this was a mccarthy appointed person it's something speaker johnson could pull him aside and say you're

00:22:30.540 gonna do this or we're gonna we're gonna remove you right like and actually put somebody in place to do

00:22:36.340 it to let somebody single-handedly and this is this is no like this isn't new right like

00:22:41.500 casey and cornyn put this in the national the senators put this in the national defense authorization

00:22:47.100 act back last year and mchenry stripped it out so everybody knows for a year he's been basically

00:22:55.200 trying to keep the china investment door open and that he also at the time he stripped it out ben

00:23:01.380 a year ago that was at the same time he announced he was stepping down huh yeah um because you want

00:23:09.660 to go a good years running uh to appropriately feather your nest tell me something figure out

00:23:16.480 what your quid pro quo is to you know protecting wall street in china and then you know the question

00:23:21.540 is like you know who who is he doing it for i mean listen he's not representing the interest of

00:23:25.500 his constituents he's not even representing the interest of his colleagues he's single-handedly

00:23:30.240 kind of holding this thing up and you know speaker johnson perfect okay let's talk about

00:23:37.120 speaker johnson um the great testicle-less wonder what is he doing here publicly what what what's he

00:23:45.120 doing here to support the america first position you know listen i mean he's got chairs of the

00:23:52.220 committee like you know somebody sent me a text last night you know we've got mike turner his chair

00:23:57.940 of house intel that he didn't swap out mccarthy first of all he's actually the congressman for

00:24:04.680 springfield ohio so why isn't he out why doesn't he have his chair of his house intel out in springfield

00:24:10.980 ohio on the streets with the people you know supporting trump in terms of what's going on there

00:24:16.020 with the immigration right why doesn't he uh you know why isn't he holding mc henry's feet to the fire

00:24:22.000 to actually do this this is what his constituents want right this stuff's very clear and you know

00:24:28.360 it's just it's not a priority for him to uh win the election uh it seems like so you know there's the

00:24:35.220 you know i have some i have some serious questions there in terms of what he's doing

00:24:38.800 so so let's just get this let's just synthesize this correctly in the the final minute brian um on this

00:24:47.540 issue to do with trade with america's number one existential enemy on the geopolitical stage right

00:24:56.160 now mike no johnson johnson who has all the cards and all the power necessary in his hand hasn't done

00:25:05.860 anything to rein in one of his own congressmen who is leaving congress anyway and is by all accounts

00:25:16.140 by all by all judgment is simply preparing his post congressional career is that is that how

00:25:23.060 weak this gentleman is is that what you're telling me 30 seconds yeah i mean listen these these aren't

00:25:29.760 even ambiguous positions ben for the constituents right like i mean you have everybody on board with

00:25:35.100 this china thing you have you know turner coming out saying he wants to approve as chair of the house

00:25:40.880 intel against the party uh you know he came out the day of the election launching yes

00:25:46.120 so you you know speaker johnson step up on this hold on hold on brian did you know there is nearly

00:25:53.160 one trillion dollars of infrastructure and pandemic funds yet to be spent that's right there's a massive

00:26:00.100 amount of money that the lame duck administration is pushing hard to spend in their last few months

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00:29:15.920 war room here's your host stephen k bannon

00:29:19.920 welcome back um brian costello i remember when president trump was in the white house and he was

00:29:34.060 announcing his slew of china tariff policies that he was attacked across the board for this um

00:29:43.080 and yet not only has the biden administration um not particularly reigned back on them it's actually

00:29:51.680 sort of strengthened them in some cases the new york times of all newspapers um never once having

00:29:59.580 put aside editorial space to say anything nice about president trump it's not complimentary towards

00:30:08.600 the biden administration um it was on friday yesterday the administration had announced measures

00:30:16.120 that's going to add tariffs to chinese products worth tens of billions of dollars um

00:30:22.600 um these tariffs will range from seven and a half percent to a hundred percent and applying clothing

00:30:28.780 so the solar panels electric vehicles syringes steel and other goods what um tell me something

00:30:36.760 about this please um because i don't understand how donald trump could be pillared

00:30:43.100 by the globalists one moment and then those same people will pivot that goes down the memory hole and

00:30:51.380 they're now praising the biden administration for doing the very things that they criticized

00:30:56.380 the trump administration for doing how does that work you know uh biden in my eyes had a pretty good

00:31:03.620 week actually he did two things he put on a maga hat first off and then the second thing he did is he

00:31:09.000 signed an executive order to close what's called the de minimis loophole related to the china tariff so

00:31:14.620 when when president trump put the china tariffs in place goods under 800 dollars were immune and this

00:31:21.640 allowed and and china saw this in this directly mapped to the ramp up of two companies right there's a

00:31:27.480 company called sheen which is a discount retailer which is you know one of the top retailers in the u.s

00:31:33.700 now and there's a company called timu and so these companies are able to avoid the tariffs because

00:31:38.700 their shipments are under 800 dollars and the way they bring things into the country so what they

00:31:43.620 did is they closed that loophole so what china's done is they've taken our manufacturing industry

00:31:48.160 with cheap labor right with cheap labor with uh protectionary measures domestically with predatory

00:31:55.100 practices with intellectual property theft you know some of these companies are being sued for

00:31:59.380 stealing designs from u.s and european retailers and then they dump these goods into the u.s

00:32:05.680 at cheap prices and you could say the u.s consumer it is advantageous from this but about china it's

00:32:11.680 always gaining a foothold right so you started to see these companies like timu and maybe this is why

00:32:17.240 the times wrote the article i don't have insight into that but timu bought seven super bowl commercials

00:32:22.800 right so what happens is these chinese discount retailers then buy off like the pharmaceutical industry

00:32:29.020 buy off big media um you know using this to not say anything bad about china or confront uh uh certain

00:32:37.460 folks um so i think it was a really really good move that they actually put this in place and and you

00:32:44.600 know close the close this loophole last week you know it's it's obviously a talking point to say

00:32:50.060 they're tough on china going into the election and something that uh vice president harris can

00:32:55.300 will probably start to use is maybe she does an interview or two if if that that ever if that

00:33:02.960 ever happens uh a one-on-one tough um interview um i think it's you know it's it's only fair to take a

00:33:12.260 moment aside uh to compliment president trump on this because he had you know he

00:33:17.700 had the courage to go against basically the whole of the professional class um all the vested interests

00:33:27.820 and say no no we need to touch on um china this this move because you can see now not only biden but

00:33:36.140 also the the um the campaign around cackling carmala um are imitating donald trump right they're giving

00:33:46.900 donald trump light now um that's really that's i think as a testament i think to donald trump's

00:33:54.560 judgment right and the courage uh that the pioneering courage that he had to go ahead and

00:34:01.540 and do these things that that the democrats now feel they um the electoral obligation to imitate him

00:34:10.060 obviously they're not going to do a good enough job as him obviously there's some elements of this

00:34:14.040 that are simply going to be performative because they've they've cottoned on to the anger of the

00:34:18.260 american people but it is a testament to to donald trump i think uh and his uh his capacity to to

00:34:25.700 steer the ship of state in such a direction that even those who claim to be so uh the seriously

00:34:33.120 opposed to him can't help but but copy him and follow him yeah and i think what we've seen i think

00:34:40.120 you know one of the reasons you've probably seen the biden you know trump uh president trump again

00:34:44.400 was ahead of the curve on this right one of the reasons you've seen the biden administration continue

00:34:48.420 these things as we've actually seen a strong china is not helpful for the u.s we know that china is buying

00:34:55.340 80 85 percent of iran's oil uh you know which then goes to fund these various terrorist organization

00:35:02.100 we know that uh china is supporting russia uh and and so a strong economic china ends up supporting

00:35:10.460 oh everybody's like this will balance out the relationship and it'll be just like us but what

00:35:14.580 we've seen is strong economic china provides financial support to our other enemies so as trump

00:35:20.380 put tariffs and shut off access to certain things in the market and did this it it was helpful

00:35:26.360 and the financial times reported something last week ben which was really interesting

00:35:30.140 which is in 2018 there were 52 000 approximately startups in china and 2020 created new companies

00:35:39.040 created this year there were 1200 created right and this is really policies from two or three years ago

00:35:44.940 that start to kind of kick in and hit investment flows and things like that the one thing i have

00:35:50.060 questions about is some of these companies being moved to singapore and position is global that are

00:35:54.560 really chinese companies or are we really we're doing you know some of these policies started to

00:36:00.120 kick in and really hit china economically that were put in place under the trump administration

00:36:05.080 um did you see talking about springfield earlier did you see um trump has pledged to deport the

00:36:14.400 haitians um in ohio city if he's elected um that i think would be uh an interesting um and i thought

00:36:25.720 that was a particularly yeah that's a typical trump move don't you think a boss move uh he's had a lot

00:36:31.220 of kickback against his cats and dogs um intervention and i don't know any folks you know you'll be seeing

00:36:38.580 social media as much as i will and you'll see the clips i mean i i sent something out i i posted on

00:36:44.480 getty yesterday the most disgusting thing i've ever seen i've ever posted on social media certainly it was a

00:36:50.560 guy of someone um chewing basically the throat out of a live cat um being recorded um i don't advise

00:37:00.660 you to see because it's literally one of the things that once seen you can't unsee it uh and i'm a

00:37:06.580 cat lover i've got three cats so the dog here um but i put that out because you know people need to

00:37:11.420 see that you know that they're focusing brian on on the wrong issue here right because you talked you

00:37:16.420 spoke about mike turner um earlier um people are focusing on the wrong issue on on this cats and

00:37:24.440 dogs thing it's really important i'm so happy um that that trump hasn't backed down on this uh they're

00:37:31.980 saying oh you know they're not you know they said that no no no haitian no haitians have been involved

00:37:38.840 there are no pets going missing in springfield but if you look at the the very pedantic way they're

00:37:44.220 responding you know these things are taking place across america um if it's not one group of third

00:37:51.260 world illegal invaders in one town they're in the other town right if they're not eating cats they're

00:37:57.460 eating geese there but you try and pin democrats down or even a lot of uh rhinos down and they they

00:38:04.240 just um they smash it and i'm so happy that trump has um took pride in him actually that you know as

00:38:11.900 always um he's not backing down tell me what you were saying just a few moments ago uh that you

00:38:18.060 thought mike turner ought to be slightly more um supportive shall we say of of the of the republican

00:38:26.100 nominee on this issue you have you know as as as steve used to call him the doofus from dayton or the

00:38:34.600 dunce from dayton in his district you have you know has become a national spotlight you know and this

00:38:40.620 is a guy he's a member of the gang of eight right the inside of the intelligence committee

00:38:44.140 so on the you know on the debate the day of the debate he's pushing out a letter saying we need

00:38:49.180 to approve shooting one ridge missiles into uh russia from ukraine basically you know escalating a

00:38:56.860 potential world war three and he has 22 000 illegal immigrants in his district and he's not you know i i

00:39:03.620 my first phone call if i was representing springfield ohio would be to call speaker johnson and say

00:39:08.340 we're going to go do a press conference right in the district uh then i would do a press conference

00:39:13.220 and i would talk about this issue and i would talk about how it's impacting my constituents and i would

00:39:18.420 one i would support president trump but i would also support the people of my district uh and and not the

00:39:24.980 illegal immigrants so this guy's off trying to create world war three and completely ignoring that

00:39:30.840 his district has become you know part of the national spotlight my last reading brian costello on the

00:39:38.100 um my last update on this is that actually after this meeting um between um between the us and the uk

00:39:47.300 in ukraine um lincoln and um lammy david lammy is our british foreign secretary uh they've actually

00:39:54.900 decided not um to advise biden um not to authorize

00:40:03.940 ukraine to use non-us supplied long-range missiles in russia they've backed down from that very sensibly

00:40:13.140 um given that president putin has said uh that had biden authorized that that would mean nato and um

00:40:20.100 um and russia would be at war um um so uh with regards to uh just to uh to to that ukrainian point i

00:40:31.300 think i think that the crazes have been uh walked down off the ledge could you tell me just um moving

00:40:40.340 back to uh i i want to stay on this point just for a moment um and it is important right um we spoke uh

00:40:51.620 in the previous segment and with sophia georgis about the the accelerating exploding house prices across um

00:41:01.220 um the battlefield states the six swing states of which ohio isn't considered not conventionally

00:41:10.500 considered to to be to be one of them um people americans as we head towards the final lesson two

00:41:21.060 months before the election americans haven't felt so poor uh in decades and the only thing the democrats want

00:41:29.940 to talk about they don't want to talk about the exploding price uh value in houses they don't

00:41:34.740 want to talk about um when they want to talk about laura laura luma and they want to talk about cats and

00:41:42.500 dogs brian costello stand by please uh i'll just take your final concluding thoughts in a couple of

00:41:49.620 moments after this short break

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00:44:15.940 donewithdebt.com do it today action action action here's your host stephen k band

00:44:29.940 welcome back we'll be um hearing from the legendary mike lindon in just a couple of minutes

00:44:34.980 time but brian costello um before you bounce you said something i think which is pretty important

00:44:41.220 and i want to underline that for the woman posse um earlier on in the show you mentioned uh the

00:44:46.180 house intelligence committee uh mike turner right missing in action in ohio nowhere to be seen on perhaps

00:44:53.860 the most visible election point this far in the campaign arising out of the uh the debate uh presidential

00:45:02.820 debate the only thing that democrats want to talk about right now is laura loomer and to suggest

00:45:12.820 that the haytians have nothing to do with the disappearance of pets in springfield um you have

00:45:20.420 a point i think to make uh before you go about just the total abdication of of leadership

00:45:27.940 uh and responsibility on behalf of of these people on the on the gop side yeah i think listen you know

00:45:37.780 we can talk about china we can talk about um we can talk about the immigration issue we can talk about

00:45:44.420 all this stuff we can talk about uh laura who i quite enjoy and uh but the reality is we have an

00:45:50.580 election that's going to shape the country coming up here and i don't know why every single congressional

00:45:55.940 representative isn't in its district making sure that we have election integrity i don't know why

00:46:02.340 speaker johnson isn't having a hearing and calling up as we come up on october and we usually have the

00:46:08.580 october surprises knowing the pattern of conduct in terms of suppressing information and misinformation

00:46:16.260 all the heads of the social media companies and have them testify in front of congress they're

00:46:21.460 going to make sure people in their organizations don't interfere and make sure that none of the

00:46:26.420 agencies are working with these social media platforms call the social the agencies and you know there's a lot

00:46:33.460 when you have the gavel there's a lot you can do to put attention on issues and you can be proactive

00:46:40.020 right you know one of the jobs of congress is to shape future policy so you don't just have to be reactionary and do investigations

00:46:47.460 you can be proactive and a leader a speaker of the house people with gavel and the committees

00:46:54.660 they would step up turner should call you know the intelligence community in and have a

00:46:59.940 public hearing that they're not gonna do anything people that oversee homeland security and some of

00:47:04.740 these organizations are accused congress needs to step up right now over the next 50 days and make

00:47:11.620 sure that we have integrity in our election uh perfect point to close on brian costello um you know

00:47:19.860 it reminds me something i said before uh certainly in america that the presidential election or election

00:47:27.860 to congress or to senate aren't the most important part of an election for americans because of the way

00:47:33.700 your system works it's this it's the primaries that are the most important point these people shouldn't

00:47:40.260 even be on the ticket uh they shouldn't even be on the ballot they should have been primered some

00:47:44.900 of them decades ago um that really has to be after this election after the just conversations about

00:47:51.300 election integrity we've got them all out of the way that i think has to be the number one priority for

00:47:55.860 this movement um in terms of its party machinery primering the people who cut the you know most of the gop

00:48:04.660 they're performative on this occasion they're not even going through the motions of pretending

00:48:08.900 brian costello where do folk uh go to keep up with your analysis uh pretty pretty simple just on uh

00:48:17.140 x uh bp costello is is my twitter account you know and there's ben i would just add there's a pattern

00:48:23.620 of conduct here that's egregious by agencies by uh media companies and we need to get in front of it

00:48:30.660 you know we we need to make sure this this country's about fair elections is the most important part

00:48:35.380 fair elections and free speech are the two things that make us work fine christella thank you very

00:48:41.060 much thanks ben take care god bless um fair elections and free speech my next guest my final guest today

00:48:50.580 mike lindell i'm sure those are two words that you've um spent basically this is your life's ambition

00:48:58.740 uh to bring these two things back to the united states look we've only got three minutes um and i

00:49:04.980 want to talk about my pillow just but give me a minute if you will because i know you've spoken you're

00:49:10.740 probably probably one of the most moving people i've i've seen in public life talk about how his faith

00:49:16.980 in jesus christ has dragged him out of the abyss out of the abyss right you are a testament to to to

00:49:24.500 the the the miracle of the grace of god in our lives um and god bless you for your testimony yeah

00:49:31.620 what do you think what do you think when you hear a man who claims to be pope um say that oh which he

00:49:41.140 did like a few days ago all religions they're all parts due to god jesus christ said i am the way the

00:49:47.220 truth and the life none shall come to the father but through me what what do you as a protestant what do

00:49:52.740 you think i'm scandalized by the catholic church right now what do you think it's a shame it really

00:49:59.220 is it's uh we're in a spiritual battle and that's part of this battle of evil and good in this world

00:50:04.180 right now and i've told everyone you know when i spoke at the white house a couple three four years

00:50:10.180 ago in the rose garden and i said god's given us grace for such a time as this a nation that turned

00:50:15.060 its back on god people come up to me all the time and say mike this doesn't feel like grace i said

00:50:19.860 oh but it is i said we are in the best time in history to be alive people see this stuff and hear

00:50:25.780 this nonsense and they're pouring into this bucket of jesus christ we are in the greatest revival in

00:50:32.020 history for jesus christ if you can't go out now and evangelize and ministry to to your family or to your

00:50:38.420 neighbors to anyone people don't look to god when things are going good they look to god when things are

00:50:43.460 going bad or nonsensical all these nonsense that's out there so i am very i get it i i use things like

00:50:50.420 i hear like that for encouragement going you know what go read your bible let's get back in the word

00:50:55.540 and we will save our nation we will save people for eternity

00:51:03.860 amen or amen as you say tell me closing closing 60 seconds tell me tell me about what what the office

00:51:11.780 you guys you guys we had a box store cancel their big order on us we finally had an order you guys

00:51:17.620 take advantage i said they're there i think there'll be enough for the weekend they're 14.98 the my pillows

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00:51:30.340 14.98 using promo code war room this is the wholesale price they cancel us on we're putting a limited

00:51:37.380 10 so you all can get one you can get a bunch and get them get them for every room in the house right

00:51:43.060 now normally 49.98 this is a war room exclusive you guys have almost gone they should be gone by

00:51:49.060 monday you guys you guys have responded to this it's helped my employees it's helped my pillow

00:51:54.420 go to the go to the website use promo code war room there's go down to you see steve's face there's

00:52:00.660 the blowout sale there's our sheet sale our my pillow mattress toppers the slippers are on sale

00:52:06.980 that's a warm room exclusive promo code war room mike lindell god bless you shout out to the live

00:52:15.060 chat but to stay with us we'll be back at 10 a.m on monday god bless i want to warn you of a huge change

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00:52:39.300 rickards editor of the independent financial newsletter strategic intelligence and new york

00:52:44.260 times best-selling author is warning about a coming event that could elevate this governmental

00:52:49.620 surveillance to a terrifying new level in fact some of the guests i've had on the war room believe

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Bannon's War Room - September 14, 2024

Episode 3905： Rise Of The Debt Spiral

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