00:00:42.420The United States and Iran traded strikes once again this morning.
00:00:45.600And President Trump just told Fox News a few moments ago that the United States fired 49 Tomahawk missiles towards Iran,
00:00:52.300along with bombing by fighter jets after saying earlier in the day
00:00:56.280that Iranian leaders were taking, quote, too long to negotiate.
00:01:01.160Trump also once again warned that strikes could continue if an agreement is not reached.
00:01:06.960Now, Iran retaliated to the latest U.S. attacks by targeting American bases in Bahrain, Kuwait, and Jordan.
00:01:14.980Sirens sounded in Bahrain, Kuwait's airspace temporarily closed,
00:01:18.680and Americans in Jordan were warned to take cover.
00:01:22.300There's also escalated tension in the Strait of Hormuz, which the Iranian military has now ordered completely closed to all vessels.
00:01:30.980And just a few moments ago, President Trump took the truth social to flat out say that the U.S. will be hitting Iran again tonight.
00:01:38.560He put it very hard, all caps, and then goes on to say this.
00:01:42.580And at some point in the not too distant future, we will be taking Carg Island and other oil infrastructure points and assume total control of their oil and gas markets.
00:01:54.420So if that's not an empty threat, if that's not a bluff, that is a market escalation in this conflict.
00:02:01.040It would seem the war depends on the verge of really resuming.
00:02:04.760So you say you're announcing you're going to hit them very hard tonight.
00:06:45.220It was number one on Amazon for the week.
00:06:48.320and jill biden's book you know um that sold far fewer copies and was number five on amazon hit
00:06:57.440number one on the times list but you know let me just say that eric has written just an historic
00:07:03.080book just an epic book and if there's one book you read between now and july 4th it should be
00:07:09.600this book it celebrates the greatest country in the world and that's what people want to read
00:07:15.100And what you've seen here is that people don't want to read a book by Jill Biden, that even with everything behind it, with with packs buying hundreds or even thousands of copies with everything fixed, the book just doesn't, you know, just doesn't sell.
00:07:32.580I mean, it's currently number 214 on Amazon.
00:07:38.820And in its second week, Eric's book is number 21.
00:07:42.780So it's just outselling it like crazy.
00:12:38.460Yeah, I would say, you know, like I said,
00:12:40.800people should read a book about courage and endurance and bravery and faith. And that's a
00:12:48.220story that you can believe in. That's a story that I think people want to read and celebrate
00:12:53.440and share and back in any way that they can. And the last thing that they want to read,
00:12:59.960they don't want to read a silly memoir by the inconsequential wife of a failed president.0.79
00:13:07.220You know, and, you know, to have a country where for so long libraries and bookstores and newspapers and TV shows and radio shows haven't covered books like Eric Metaxas's book, but they've carried these silly books like Jill Biden's book.0.75
00:13:24.640You know, we should just rebel against that. And I want people to go out and buy this book, to buy it as a gift, to share it on social media and to think about this historic moment that you can't hide the truth anymore.
00:13:39.940It's the beginning of the end of a certain kind of censorship where you can just go online now, you know, use AI.
00:13:47.340You can find out what's really working, what's really selling.
00:13:51.800And there's no hiding from the censorship and propaganda and lies that we've all been subjected to for such a long time.
00:13:59.760And that this is that moment and we should take it and keep on taking it and make the statement that we just won't stand for it anymore.
00:14:07.980Tony, where do they go to get you on social media?
00:16:59.860that's the list grace and mo and listen we can figure out i want people to be able to get access
00:17:05.960to that list here's what i want you to do if you feel like causing some trouble i want you to print
00:17:11.100that list out i want you to go to your local barnes and noble after you spend 60 seconds
00:17:16.380looking around of why there's a thousand copies of joe biden's up the front and these other
00:17:21.720stupid hour books and you can't find metaxa's book is not up front but more importantly when
00:17:27.280go into the stacks under american history you will not find it why the lefties of barnes and0.99
00:17:32.880noble do not want to promote the true story of the american revolution take that to the manager
00:17:37.800say i need to see the manager who's running this place put it up in his grill or her grill
00:17:43.480and say where in the hell is this book i need a copy of it where's this book why is the number
00:17:50.220two book bestseller non-fiction in the country not in this uh story you've got 10 000 books
00:17:57.060where is it we want it and i want it up front make a statement and you don't don't try to be
00:18:05.760pleasant at start but look if they give you pushback say look what's the story here dude
00:18:10.900where's the book jill biden give me a break you wonder why the country's in rot because of the
00:18:20.380elites and the ruling class in this country mark meadows uh former chief of staff for president
00:18:25.380Trump, I have a question. Why is the United States Senate, all they do is bitch and moan0.99
00:18:30.420every day, but they need money. You got to give money. You got the Senate a million things every1.00
00:18:35.360day, need money to hold the Senate. Please tell me because you're, you know, in the house for
00:18:41.780those many years, you were the master strategist that got us through those years before President
00:18:45.880Trump came up. And then in the first couple of years of President Trump, what is going on with
00:18:50.480the Senate and what should we do about it? They're treating President Trump like a lame, worse than
00:18:54.040lame duck? Because even the lame ducks, they kind of give them a little respect. There's no respect0.98
00:18:57.360here, sir. Well, there's no respect, Steve. And the interesting thing is, is they're trying to
00:19:05.840pretend like they don't have control. But I can tell you, there is a majority of Republican
00:19:12.460senators. All it takes is 51 people. And yet they're trying to throw it off on Elizabeth,
00:19:18.420the parliamentarian. They're trying to throw it off on President Trump. And when they lose a
00:19:23.640majority, they will blame it on President Trump. You and I have seen this movie before. You were
00:19:28.740with the president when nobody believed in him. But behind the scenes, they're laughing at him.
00:19:33.940They're suggesting, oh, well, we can't get this done. And all it takes is a little bit of courage.
00:19:39.040For me, I think it's time we start calling out these senators and say, use the gavel. The people
00:19:47.140have given you a mandate. But quite frankly, all it takes is 51 senators to get the noms.
00:19:52.560We can't even get the Save America Act really passed into the president's desk, and he's used his bully pulpit for it.
00:20:01.840It's time that we get it done, and quite frankly, the fix is in.
00:20:07.100Just like the New York Times has got the fix in for Eric Metaxas, but the War Room Posse can put the pressure on like nobody else.
00:20:16.240And I, for one, am going to go out and buy several copies just so that we can get in the grill of Barnes & Noble and other leftist groups that fail to cover the real story of the American history.
00:20:30.760You, in those years in the Freedom Caucus, were not just a strategist, but also a master tactician of the mind-numbing complexity of the rules of the House and even the Senate and how you work and how you have a goal and you've got to weave through there.
00:20:45.200this thing with president trump on the lame duck situation is about to get very serious and what i
00:20:50.540mean is that they are they think they've got momentum now in this war powers act so they're
00:20:54.900going to get in president trump's grill on the war powers to try to cut him off as commander-in-chief
00:20:58.900um and and also now fisa which your buddy and my ken cucinelli refer to i think in the federalist
00:21:07.300as the holy relic the holy relic of the deep state in this fisa situation is present are there
00:21:14.260alternatives that president trump has if we don't keep saying we don't have 51 you can't get to 60
00:21:19.360if you got 27 i mean to me i don't know how we go forward with thune as as the leader and the
00:21:25.520leader is not a constitutional office unlike speaker of the house you know you know you get
00:21:30.560i guess grasping the president pro tem is in the line of succession are there ways that we can start
00:21:35.700to make moves at least to get leverage here even one day of a recent even one day of a recess which
00:21:41.600they haven't given President Trump, and this to me is embarrassing, McConnell made a claim he will
00:21:46.160never give a day of real recess in the Senate so President Trump can have some recess appointments.
00:21:52.340What then are we to do now? All right, listen, so you and I both have talked about some of these
00:21:59.700things that can be done. You're right. It takes more people in the Senate, so it would take 27
00:22:05.680senators to get a new leader. Honestly, they like hiding behind John Thune because he can kind of
00:22:12.940protect them and they don't have to take the tough votes. And yet the one thing about the
00:22:19.180recess appointments, there are three things that could be done. One is, honestly, they could say,
00:22:27.360we're going to leave for August. We're going to go in recess, let the president go ahead and do
00:22:32.460recess appointments there. That would be the easiest. Senator Thune needs to feel the pressure
00:22:38.040from the posse and others to do that. But if he doesn't do that, there is another way that you can
00:22:43.800get this done. What can happen is the House can say, we're going to go out and recess for two or
00:22:52.000three weeks in August and send that over to the Senate. If the Senate doesn't agree, and that's
00:23:00.420non-debatable motions. And for those that are tuned in is actually what happens is it has to
00:23:06.500be brought up in the Senate. Now they can amend the dates and things like that, but it actually
00:23:11.260has to be voted on. But if they don't agree, if the Senate and the house doesn't agree,
00:23:17.020guess who's gets to call them into recess, the president of the United States. It's in the
00:23:21.940constitution. He can make recess appointments. Uh, he needs to send that message. His people
00:23:27.880need to send a message. Hang on, slow down, slow down, slow down. You got me fired up.1.00
00:23:34.540Honey, no, no, no, because this is where you're the best. This brilliant plan is actually not
00:23:42.240yours. It's the founders of the nation. It is in the, is it not in the constitution, sir?
00:23:48.900It is in the constitution. It's an article two section that you can actually have this happen.
00:23:56.000And so it doesn't take any Senate rules. It doesn't take anything other than the House and the Senate to disagree.
00:24:03.040Once they disagree, the president can say that the Senate or Congress or the House and Congress are in recess and he can make recess appointments.
00:24:12.860Because the brilliance of our founders, they could look downrange and they figured, hey, maybe maybe maybe in 2020, maybe 250 years or that time, you know, 200 and some years.
00:24:24.960they could be jammed up like this. And we'll let the executive branch or let the president as the
00:24:30.520chief executive officer of the country make that decision. Craig, let's just go back to it one more
00:24:35.440time slowly. The Constitution says what if we find ourselves in this situation?
00:24:40.460So the Constitution says that if there is a disagreement, it basically says that the House
00:24:46.220and the Senate can't go out for more than three days. And that's why we have these fake performa
00:24:51.480kind of thing. Sometimes even senators not showing up when they're, quote, in session.
00:24:56.480But if they don't agree on a recess or the adjournment of the House and Senate, if the two
00:25:03.360chambers don't agree, that the president can actually say that they're in recess for this
00:25:09.940period of time and then make recess appointments. Now, listen, is that a nuclear option? It is,
00:25:17.180but they need to let Leader Thune know that that's being discussed in the White House.
00:25:22.740And you know what? I think he'll find religion very quickly.
00:25:27.140Mark, tell me, what should you do with the Save America Act? We have major legislation the0.56
00:25:32.800president's talking about, and Cuccinelli's recommendation, Ken's recommendation says,
00:25:38.680hey, the deep state wants the holy relic of Pfizer so much. Attach the Save America Act,
00:25:44.920And let's see how much they want it, because they're more afraid of actually having fair elections than they are of using the tools of the deep state against the MAGA movement and the president of the United States.
00:25:55.800Your thoughts on just the jam up in the Senate right now.
00:25:58.800And what do we have to do to actually show the American people and get some enthusiasm in MAGA to go knock on doors for these senators?
00:26:06.220Well, they do need to knock on doors on senators.
00:26:09.260And some of these senators may not be up this cycle, but the posse has a long memory.
00:35:14.580And lo and behold, the devaluation is much greater.
00:35:19.620Just give us your talk to because you were going to go in and clean this thing up.
00:35:23.320This whole thing of how we look at inflation, how we look at labor statistics, people forget it's very predicated upon the official government, you know, understanding of this.
00:35:33.560And oftentimes that is using fuzzy math, let's say, sir.
00:35:39.660Steve, I can give you a perfect example of that in the last inflation report, not the producer price index that we got this morning, which was horrendous and happy to talk about that if you'd like.
00:35:49.420But in the previous report, which was the Consumer Price Index, that's the bad CPI, not to be confused with the good CPI you were just talking about with Mark Meadows.
00:35:58.240But in that CPI report, Steve, you saw used car prices decline.
00:36:04.860Because real-world prices actually went up.
00:36:07.320The reason for the decline was because the BLS assumed that there was a very large quality improvement.
00:36:14.220And so they assume that consumers are essentially getting a better bang for the buck.
00:36:18.620if you want to think of it that way. And that shows up as a price decline in the data when,
00:36:23.580in fact, the real world effect was a price increase. And that's just one example I can
00:36:29.200give you off the top of my head because it's what just came out recently. But what you're talking
00:36:33.700about that Jeffrey Tucker and you discussed, I actually wrote a paper for Jeffrey Tucker in
00:36:40.220coordination. My co-author was Professor Peter St. Ange, and I coordinated with him on the paper.
00:36:45.760And what we found in our research was that from essentially pre-COVID through 2023 or 2024, that the inflation had been much, much worse than previously estimated.
00:36:59.640And the reason was exactly the kinds of things that Jeffrey Tucker was discussing in this more recent research, which shows that real-world prices have gone up far more than the government statistics actually indicate.
00:37:14.360Because if you remove all of these kind of statistical tricks that have helped to put downward pressure on the CPI, then you realize, again, consumers are far worse off.
00:37:25.620Now, I understand why the statisticians do a lot of what they do in terms of these things like quality adjustments.
00:37:32.720You know, a car today is vastly different than a car from 40 years ago.
00:37:37.780Of course, you want to make adjustments there in terms of things like quality.
00:37:42.640You want to adjust for the improvement in the quality of a vehicle now that it has things like pedestrian sensors, that it has cruise control, that it has a backup camera.
00:37:53.700The issue, though, is that all of these different adjustments that they make, whether it's for quality or for other things, all put the same direction on their adjustment to CPI, which is downward.
00:38:05.400In other words, all of them are going to understate the real-world price increases that we're seeing.
00:38:11.240look at the crazy way we measure home inflation or shelter inflation. We don't even measure the
00:38:17.300cost of home ownership anymore, Steve. We use a proxy for it. So we don't look at home prices.
00:38:22.600We don't look at interest rates, literally the two main determinants in your monthly mortgage
00:38:27.720payment. Instead, we just look at rents and we try to impute from that what the actual cost
00:38:33.100of home ownership is. And no surprise, it is once again grossly underestimating the cost that
00:38:39.220homeowners are actually facing every single day. I want to go back to the numbers today and I want
00:38:45.020to set the predicate that there's no bigger support of President Trump in his program than
00:38:49.600E.J. and Tony. You were going to be the nominee for the Bureau of Labor Statistics, which I still
00:38:54.160think has to get done. But I digress. You're very close to Scott Best of the Secretary of Treasury
00:39:03.060and Alexander Pregate and the entire team over at Treasury. You've been a pretty good surrogate
00:39:07.660for the Treasury program because you believe in President Trump's economic program and you believe
00:39:12.520Scott Besson was a great Secretary of Treasury with a safe pair of hands to do this. And lo and
00:39:17.080behold, guess what? It was working. We would have you on here and it's working. You see jobs are
00:39:23.280coming back and you're seeing growth, all of it. Now, and President Trump's got his strategic
00:39:28.600reasons for doing this war about the nuclear weapons. But the reality is in the math. And I
00:39:33.840want to get down to the math. What was the print today? How did that tie to yesterday? And where
00:39:39.340do you think we are in the good old EJ and Tony give it to us with the BarkOn assessment of where
00:39:45.180we are right now, sir? Look, the producer price index came in red hot. It's not good. There's no
00:39:52.600way to sugarcoat this, all right? Prices rose 1.1% just in the month of May, and that's on top of
00:39:59.300another 1.1% increase in the month of April. So if you annualize this, in other words, if you take
00:40:06.760those price increases and you say, what happens if we have that for an entire year? That's what
00:40:11.280an annualized rate is. That's where you get into double digits. It's over 13%. It's almost 14%.
00:40:16.760And if you take the three months that we now have data for since the Iran war starts,
00:40:22.400so March, April, and May, what you see there is, again, an annualized rate that is in the double
00:40:28.500digits. It is just red hot. We're seeing not just the annualized rate, but the year-over-year
00:40:35.280increase. In other words, go from May of 25 to May of 26, what's happened with prices,
00:40:41.220and they're up at the fastest rate since the Biden administration. So again, not good news here.
00:40:46.720And essentially, Steve, what's happening, because a lot of people said, oh, it's just oil,
00:40:51.020right? It's just oil prices. Everything else is doing just fine. In previous oil crises,
00:40:56.920I think that's what you would have seen. But as time has gone on, and I think this has to do with
00:41:02.180the speed at which information now travels and the speed at which price signals move throughout the
00:41:07.680economy and throughout supply chains. As time has gone on, you can track this through different oil
00:41:12.600crises going back to the 70s to today, the rate at which oil prices bleed over to the rest of the
00:41:19.560economy has sped up pretty dramatically. And by the way, this is not just on the way up, this is
00:41:25.120on the way down too. How many times in 2025, Steve, did you and I talk about the fact that
00:41:30.960lower oil prices as a result of this president's policies were driving down inflation throughout
00:41:36.860the broader economy? Well, now it's just having exactly the opposite effect. As oil has gone
00:41:42.120higher, it is pushing up prices throughout the economy. And we're seeing this if you look at
00:41:47.820all of the different metrics that try to take out outliers, essentially, from our inflation
00:41:54.020metrics. So for CPI and PPI, you have core measures, which removes food and energy because
00:42:00.160those are both very volatile. But you also have things like median CPI, which just looks at the
00:42:06.360middle component there. You have trimmed mean CPI, which takes out the highest price increases,
00:42:13.920but also the slowest or even the price decreases. And in all of those metrics, you're seeing the
00:42:20.040same thing, which is an acceleration over the last several months. So we're just in this unfortunate
00:42:25.320situation, Steve, where all of the great work that this administration is doing on tax policy,
00:42:31.220on regulatory policy, the phenomenal work that they have done at Treasury, and I truly believe
00:42:38.100Scott Besson is the greatest Treasury Secretary we have had since Mellon, and that's saying
00:42:43.640something. I think that at this point, all of the knock-on effects of the Iran war are simply
00:42:52.660overpowering. This is a headwind that is overpowering all of the tailwinds that this0.86
00:42:57.960administration has produced, a lot of which, again, have come from the great folks at Treasury.
00:43:03.840All those tailwinds, I mean, have come from the Treasury Department.
00:43:09.220EJ, social media, where do people go? You're putting up great stats and bringing it all down
00:43:13.040for folks where they go now best place to find me is on x and the handle there is at real ej
00:43:18.960and tony your analysis is fantastic i want everybody to make sure they go to um to twitter
00:43:25.200and make sure they grab it because you're putting up charts and the details of it uh all the time
00:43:29.760it's fantastic thank you for coming on look forward to getting you back here thank you steve
00:43:34.220it's just reality we're gonna have to embrace that uh records uh and hopefully bowling will
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00:47:24.200how did this happen? How intense is it, sir? Well, Belfast is an interesting case because
00:47:30.340it's very different from most other countries because of what we've been through in the
00:47:34.340Troubles. And you've generally got a fairly monoculture in Northern Ireland. I found it
00:47:40.600a shock when I came from Northern Ireland to London. That was a complete culture shock.
00:47:45.180I thought I was coming to England. Little did I know. But what we've seen in Northern Ireland was
00:47:50.320obviously the attempted beheading of an individual in North Belfast by a Sudanese man who had claimed1.00
00:47:58.180asylum in Northern Ireland and been given indefinite leave to remain, which is, yeah, you can stay here0.89
00:48:03.600as long as you like. No problem. No background checks or anything. So he had been allowed to stay
00:48:08.300in Northern Ireland. He tried to cut someone's head off on the street in North Belfast. And of
00:48:16.060course, people are rightly angry that that has happened, angry at the failure of immigration
00:48:21.560checks and worried, actually, what's going to happen to them tomorrow? Are they going
00:48:27.020to have someone running around with a machete that's kind of normal place in London, but
00:48:31.960isn't normal in Belfast? And of course, people have been angry, and that's why you've seen
00:48:36.160two nights of riots, of crowds coming out. I think fairly orchestrated, but it shows
00:48:45.120the anger, but most individuals in Northern Ireland are not participating in that. They
00:48:49.840are angry, but that's not what people want to go back to in Northern Ireland. You had,
00:48:54.800I think, 250 responses by the emergency services on Tuesday night. Last night, they were around
00:49:01.52065, 70. The normal, I think, is around 30 a night. So obviously, it went up 10 times
00:49:08.300the first night. Last night, it was in certain areas. The first night, it was everywhere.
00:49:14.340And I know I've talked to family and friends and they've said a number of the high streets today were ghost towns, afraid to open in case they get burned down.
00:49:23.780So although none of us condone the violence, it is sheer frustration that no one will listen.
00:49:30.040And what do you do when you don't have a political solution?
00:49:33.940In the UK, we don't have elections for another three years.
00:49:37.360And whether or not reform with Zia Yusuf and Nigel Friars, whether or not they are the answer in 2029, that's another conversation.0.95
00:49:45.940But we're stuck with this mass immigration open doors policy for three more years with nothing being done to stop it.0.71
00:49:54.300So it's no wonder people are angry at people flooding into the country.0.52
00:49:59.140How does this dovetail with the Novak, the Henry Novak, you know, situation that blew up all over Europe?