00:02:22.620But Donald Trump himself is going to run this the way he wants.
00:02:25.260And no, they absolutely don't have the power to fire people like Bill Pulte or Natalie Harbaugh.
00:02:29.320Because if Trump wants them there, he's the president of the United States, they're there.
00:02:33.220Now, you may have noticed that there's one other person captured clearly in that image.
00:02:37.680According to New York Times, that is Bill Pulte, a Trump loyalist who's the nation's top housing
00:02:42.580official, at least overseeing mortgages. He also did a stunt this year as the acting director of
00:02:47.900national intelligence. Remember that for about two weeks, fired a bunch of people. Pulte, like Trump,
00:02:52.780is a terrible speller, infamously. And according to Times reporter Jonathan Swan, regularly inserts
00:02:57.900himself into Trump's inner circle and indulges his weird fantasies like this. He goes to Trump's
00:03:04.820golf clubs and he brings these foam boards and it's like they often end up being trumpled truth
00:03:13.680a lot of the stuff you see on his truth social on the weekends that's right particular is sort
00:03:18.720of bill pulte's uh often his his handiwork now that looks like a classic pulte foam board and
00:03:26.680pulte may not be doing anything about oh i don't know housing affordability which again is supposedly
00:03:30.760his actual job, like mortgage rates or just hit near-term records, but he knows what Donald Trump
00:03:35.440wants. What Donald Trump wants, apparently more than almost anything, is to basically steal a
00:03:41.920memorial to our assassinated president, which if you stop and think about it for like five seconds
00:03:46.860is pretty twisted. Friday, 18 September in the year of our Lord, 2026. Okay. We had both Chris
00:03:55.740hayes nicole wallace the great jonathan swan from the new york times uh stewart over at comedy
00:04:02.320channel they all agree on one thing that bill pulte's got one of the most important jobs in
00:04:07.700the country and that's the director of housing and all of it uh bill pulte we're very honored
00:04:12.340to have bill pulte in studio to see you so when it's very unusual to have unanimity on msnbc
00:04:21.260to say, hey, this guy's got this big job, this guy's got this important job.
00:04:25.400And I don't think that, and I'm not saying it's not a good job of getting it out there,
00:04:30.420but you guys are doing a ton of work, an incredible amount of work under President Trump
00:04:35.200to deal with this entire issue of housing, this younger generation, et cetera.
00:04:39.640Of course, they'll never report everything that we're doing.
00:04:40.800That's why you're here live in the war room, because they teed it up to say,
00:04:44.920hey, this guy's got one of the biggest and most important jobs in the country.
00:04:48.400I've never seen Nicole Wallace, Chris Hayes, Jon Stewart and Jonathan Swan agree on anything in a positive way about the Trump administration.
00:04:59.740But they are consistent. You are the czar.
00:05:03.460You're the most important guy in housing reporting to President Trump as he's a builder and a guy that's very focused on real estate and housing.
00:05:11.600Let's just go through it. I want to take a moment because they run around, you know,
00:05:15.240with their hair on fire on so many other tangential issues, the two things we know you've done,
00:05:20.460you've done a hundred percent that you are the housing. And then you had what they call a stunt.
00:05:26.220We call a stint as DNI. So let's start with housing. What exactly? Tell people first,
00:05:31.760what is your job as director? What is your job? What do you oversee? What is the scale of the
00:05:37.120job? Ever see nine trillion dollars through Fannie Mae and Freddie Mac. And the cost of
00:05:41.980new housing in this country has gone down dramatically since President Trump came into
00:05:45.540office. It's unfortunate that the Fed increased rates, obviously, because, you know, from my
00:05:51.380perspective, especially in housing, you know, inflation has gone down dramatically. The cost
00:05:55.680of a new home is, in some cases, 20%, 30% cheaper than it was under Biden. Just take it to hang
00:05:59.800on. Walk me through that. Because everything I hear every day is how cost of housing is out of
00:06:04.640control. Young people can't get into houses. So when you say it's come down dramatically,
00:06:57.740When you say America First, this is focused on American citizens so they can get in a house, afford a house, and build a house into a home, correct?
00:07:05.180Yes. And I think what we've had is we had so much immigration. You had 20 million people, let's call it at least, maybe 25, maybe more million people come into this country and take the housing supply.
00:07:16.860So hang on. So you agree with Besson. What Besson says, hey, if you look at like in Phoenix, Arizona, where they've had big and forth, as soon as you see the drop in illegal immigration, whether they're self-deporting or they're getting taken out by DHS or just not allowed to come in with the sealed borders, you can see analytically, mathematically.
00:07:34.600And here's why it's even worse than what you think, Steve, because these big institutional owners of homes, they go in and they buy these big homes and then they lease them out to immigrants and they lease them out to whoever, you know, whatever Tom, Dick and Harry that they want to do.
00:07:48.620When they go and they buy these homes, Steve, and they rent them out, right?0.65
00:07:51.800If you're not an American citizen, you can't buy a home.
00:07:54.420They rent them out, but they're going in and buying subdivisions.
00:07:57.220They're going in and buying large. These are private equity, private equity groups going in, buying these these homes in these specific areas, taking up the housing supply.
00:08:06.700And so that's why it's been so important. What President Trump has done with immigration is he has totally removed this source of demand, this exterior source of demand.
00:08:16.360And I believe that's why it's become really an America first housing agenda. And you've seen the cost of housing, as I said, go down dramatically, especially for a new home.
00:08:25.220And I think you're going to see more stuff that we're coming out with.
00:08:28.240I'm going to get to how injury rates are going to affect that going forward.0.63
00:08:31.540But let's go back to America first policies.
00:08:33.860So you've disincentivized the private equity guys from going in and buying the housing stock because they would own the asset.0.80
00:08:41.420And, of course, the illegal aliens would pay the mortgage, would pay basically the financing costs.0.69
00:08:45.980So as the asset goes up, they get the private equity gets the upside with the illegal aliens paying for it, paying the mortgage.0.66
00:08:52.960Once that's gone, you're saying that they drive.0.83
00:09:01.300And one of the things we did at Fannie and Freddie, Steve, which wasn't reported, and maybe we should announce it, is several hundred homes.
00:09:08.460And to the extent that we have, I think it's been tens of millions, if not hundreds of millions of dollars of contracts we've canceled with these big institutional home buying groups.
00:09:15.880I mean, Biden was working with Fannie and Freddie and he was using Fannie and Freddie, his team was, to help finance some of these large rental home communities.
00:10:06.160Well, maybe they had DEI preferences on race and ethnicity.
00:10:12.960Yes. For example, if you were black, you would get better chance of getting a home and you'd get better rates.
00:10:18.580For example, we got rid of that right away. And of course, you know, that's why Elizabeth Warren and these people have all been after me ever since I got into office.1.00
00:10:25.160You know, they try to make it about this, that and the other thing and MSNBC and all this nonsense.0.98
00:10:28.920But it's really because we've stripped out all this crap.
00:10:31.260You did that because you wanted, regardless of your ethnicity or race, everybody to be equal and to try to get it to be more accessible to working class people, middle class people?0.77
00:10:56.820Title insurance is often very redundant, and we are doing everything we can to ensure that the safety and soundness in the market is there,
00:11:03.780while at the same time getting rid of these redundant, unnecessary title policies.
00:11:25.200Yeah. So the deal is with title. Stay with me. I'm right here. I'm right here. The deal is with title insurances, you do want to make sure at some extent that you do have title to the property. However, you know, one of the things that we're looking at is if you had a title insurance policy three years ago, four years ago from the same title company and they did the same work. Why are you then having.
00:11:44.380So you know the chain of title was perfect up until that time.
00:11:50.840Now the title insurance companies, and they make good points, will say, well, what happens if there's a renovation on the property and there's no liens?
00:12:06.040But at the same time, I mean, you know, we get s*** done.
00:12:09.280But we're trying to also ensure that the safety and soundness of the market is there.
00:12:13.460That's the first thing. So title insurance we got. OK, let's talk about the other. We broke up. Let's go other America first. FICO. FICO Monopoly. OK. We broke up the FICO Monopoly and we're saying, look, we we we like FICO. We like all American companies, but they have to compete. So Vantage Scores. What do you mean FICO Monopoly? So FICO, the credit score company since 2020, they've increased prices over eighteen hundred percent, especially during the Biden term. Just every year, they just take it to the American people. You're going to take this. You're going to take this medicine.
00:12:43.460And you're going to like it whether you like it or not.
00:12:46.240And we came in and said, no, we're not going to do that anymore.
00:12:49.060And this is entirely because President Trump gives us the ability, in my view, gives people like me who work with him the ability to go and fight these fights that are worth fighting.
00:12:58.680And then when they're lobbyists or other people try to run hit pieces on you, he knows what's going on, which is that these are people who are in some cases – and I don't want to say about FICO in particular – but are ripping off the American people.
00:13:11.580And so we brought in VantageScore. We approved that. The Biden people didn't have the guts to do that.
00:13:16.340This has become a competitor against FICO.
00:13:19.060This is now a competitor against FICO, and they're taking market share very actively.
00:13:22.300Because FICO basically had Biden allowed, which they've often done, just allowed to become a monopolistic.
00:13:27.000They were completely monopolistic, but it gets worse, Steve.
00:13:29.260And what's so good about this VantageScore is VantageScore allows for rent payment, rent history, your rent history to count towards your credit in getting a home.
00:13:40.340paid rent every month it's highly it's like paying your credit card on time
00:13:43.640your your thing should go it's even more predictive your your why is it
00:13:47.540mathematically it's mathematically more predictive because think about it if
00:13:51.020you're looking at like an old score that has when you were 21 years old and you
00:13:55.280went to the hospital because of whatever or 24 years old and you didn't pay a
00:13:59.240medical bill that's not as predictive as if you're 32 years old and you've been
00:14:03.260paying rent for 10 years okay director Pulte is with us we're talking about
00:14:07.640America. The only reason I'm doing it, MSNBC, Jonathan Swan of the big hit book Regime Change,
00:14:15.180Jon Stewart, all these haters agree with one thing, that Bill Pulte has one of the most
00:14:21.700important jobs in the administration. And guess what? Bill Pulte's getting a lot of stuff done,
00:14:25.920just like he did in D&I. So we're going to talk about his work process. We're going to take a
00:14:31.480short commercial break. I want to thank Philip Patrick's going to be back with us tomorrow from
00:14:35.160Take your phone at text Bannon at 9-8-9-8-9-8, ultimate guide for investing in gold and precious metals in the age of Trump.
00:14:43.220And as we heard yesterday on MSNBC, all the historians with MSNBC do agree that from 2015 on, it will be called the age of Trump, not the era of Trump, age of Trump.
00:18:41.580But the amount of, unfortunately, criminal activity that we spot that we have to refer
00:18:46.620to DOJ and that ultimately does get prosecuted is incredible.
00:18:50.420I mean, you know, people have been lying for money since the age of time.
00:18:53.960What was what was President Trump's mandate when he brought you in?
00:18:57.660What was his mandate to you, given the fact that he's America first, given the fact that, you know, the MAGA coalition is both working class and middle class?
00:19:06.860When he brought you in to oversee this, understanding you're a guy that understands building, you understand finance, capital markets.
00:19:15.960And I think that, you know, we've seen, as I said, new home costs go down 20, 30 percent from when Biden was there.
00:19:21.140we're so not why are we not why does people why do people not know that every night you watch
00:19:25.420cnn msnbc read the new york times it's housing costs out of control young people can't get in
00:19:31.040the houses yeah nothing's being done yeah they're worried about sideshows you know that's all
00:19:34.940sideshows you know it's a psyop it's uh if you look at the facts 20 30 housing costs down in
00:19:41.140terms of new homes that if you want to get a new new home and then you look at the eligibility the
00:19:45.700qualification by allowing people to count their rents towards their homes that increases
00:19:50.700in some cases i'm hearing 20 25 percent more people are able to qualify based on that and again this
00:19:56.120is all while being safe and sound that's the key because you're saying the rent by counting the
00:20:00.500rent the rent's best indicator you're a solid citizen right because you're keeping up with
00:20:04.240your rent you're not behind you're not a deadbeat it's like i said earlier if you were a doctor and
00:20:08.080you're 30 years old and you have you know you've been paying rent forever why are we looking back
00:20:12.200when you were 21 years old and you had you missed one you know one payment what on the um the biden
00:20:19.180was Biden more tended to focus more on Wall Street and less on the American people as far as
00:20:24.460affordability and accessibility? Yes, they weren't even focused on the average price per home.
00:20:29.160Why do you say that? Well, just look at the facts. I mean, the price of the new homes like with
00:20:33.200Lenar and Toll Brothers and all these in D.R. Horton and Taylor Morrison and Pulte Homes,
00:20:38.740all these all these builders, you know, the prices went up and up and up and the stock prices all did
00:20:43.720very well. Look at the stock prices for these builders since President Trump came in the office.
00:20:47.420they're doing okay but the real focus has been on how do we get to a price point where we can
00:20:52.440make the affordable the american dream affordable again and i just i can't overstate how important
00:20:56.760cutting off immigration you know illegal immigration was and then coupling that with
00:21:01.140many of the things that we're doing and we haven't even gotten through all the buckets that we're
00:21:03.960doing let's go let's go continue on so title title insurance credit scores we've hit credit bureaus
00:21:09.100that's another thing that we're working very actively on what's what does that mean to the
00:21:12.660audience so the credit bureau reports if you guys are familiar with when you go to get a credit
00:21:16.200credit report, you have to get a credit report from three different companies. It's kind of crazy
00:21:20.540because statistically it shows that at least two credit reports will show. And if you have high,
00:21:25.120if you have a high credit score, the credit score is supposed to be indicative of, you know,
00:21:29.280whether you can pay or not. So why are we paying all these companies? And so we're just asking
00:21:32.780these questions. And so, you know, there's this thing called TriMerge, which is what we're on,
00:21:36.820which is three companies. We're looking at moving that down to two. We're actually studying even
00:21:40.900moving that to one and in particular, maybe making it based on your credit score. So again,
00:21:44.860You look at the whole chain. Let's assume it's a stack of housing closing costs, the credit score, the title insurance, the credit bureaus. The other thing, the fourth thing is mortgage insurance. I just issued a rule last week, Steve, and you won't get it in the news anywhere, unfortunately, but where basically if you have your current home has a certain amount of value in it, you can basically have the lender can now call you.
00:22:09.060They weren't allowed to call you. The servicer, rather, wasn't allowed to call you and say, look, you don't need this mortgage insurance anymore.
00:22:15.140And in my opinion, that was a scam to benefit.
00:22:17.880I mean, the value of the home and gone up over time, particularly people that have been in the home for a long time.
00:22:22.040Yeah. Or they've even paid it down and they weren't even aware that they needed that they could cancel their mortgage.
00:22:26.680The mortgage was so low, they paid it over 20 years, but they were still paying.
00:22:29.820They were still paying mortgage insurance. So what I did was issue a rule that said, look, we're not going to allow that to happen.
00:22:34.960the servicers can contact the borrower and do it. And again, this is all because President Trump
00:22:39.280has empowered me and people like me in the administration, right, to go in and fight these
00:22:43.680fights that are worth fighting for the American people, even if it doesn't benefit private
00:22:47.300enterprise. Tell the audience about when you're going in to fight these fights, because all these
00:22:51.600industries have an industry structure and they have big players and they got the best law firm.
00:22:56.680They want, they got the law firms, the lobbyists. Next thing you know, they're leaking stories or
00:23:00.920They're going around people in the administration saying, this guy's a bad guy.
00:23:04.380You know, he's trying to break us, et cetera.
00:23:08.520I mean, what they do is what many of these companies, and I want to talk about anybody
00:23:11.440in particular, but they'll go hire a lobbying company.
00:23:14.640And then what they'll do is they'll start shopping stories around about you and they'll
00:23:18.660take one kernel of truth and then they'll extrapolate it into everything.
00:23:21.940And then they try to what I call layer.
00:23:23.860So the lobbying firms, they'll, you know, work with these outside PR agencies and they'll
00:23:28.480basically layer you with all these different stories that, you know, make you either look
00:23:32.060crazy or make you look like you don't know what you're doing or that you're risky or whatever,
00:23:36.160when actually it's the exact opposite of that. Like, how is it in the best interest of the
00:23:40.080American people, for instance, to keep paying mortgage insurance when you don't need mortgage
00:23:43.980insurance? That actually hurts the safety and soundness of the market. Right. So again, it's
00:23:48.740just this constant thing. And, you know, I'm not from D.C. I'm not I'm a businessman who believed
00:23:53.420than President Trump and very much, you know, believe in and love the man and and I'm here to
00:23:59.240fight this fight with with him. But it's been it's been incredible. You came out of this just
00:24:04.740like President Trump, not a politician, not in the political arena when you take this job because you
00:24:10.820want to help President Trump on the American First policies. What is it like when you first
00:24:15.120get to the swamp, which I think is too cute to name because this place is brutal. I mean, this
00:24:19.780This is a killing zone. Right. Complete killing zone. And what's interesting is in business, you can run the business and you don't need to worry about, you know, people running, you know, negative stories on you that are completely fabricated in business.
00:24:32.580You know, generally speaking. Right. If you're high profile, I guess, maybe. Sure. But when you're in government, I mean, literally people look at anything and try to, you know, any vector to attack you and they'll make up things, fabricate things.
00:24:44.760I mean, I could tell you some of the stories even with some of my peers, people just literally making stuff up.
00:24:49.060And what happens is they go to one of these, you know, they go to one of these news outlets and they'll get the news outlet.
00:24:54.200We'll get one or two sources to confirm it. So-called sources. Right.
00:24:57.600And anonymous, anonymous sources. And then they can run it.
00:25:01.420You know what I'm saying? And then you'll issue a quote back and then the media outlet can choose to not run it.
00:25:05.760So it's a whole deal. But, you know, now that's the price of admission.
00:25:09.120I mean, we interviewed so many people in the first term and talked to business guys and said, I'm dying to go in.
00:25:15.000And what we say, if you're going to get nominated, you've got to go all the way through.
00:25:18.940You can't fold on the first bad story.
00:25:22.360And 25 percent of them, they get the barrage of bad stories and they're calling you up and saying, hey, look, I got to punch out.
00:25:31.460And realize if I'm on mission, like you're on mission, I'm going to have to take this flack.
00:25:36.460yep i'm i'm ready and doing it and been doing it so i want to get you back because i don't
00:25:41.140want to cram it in now i want to talk about dni i want to do it another time that was a great
00:25:44.660experience but but how i want your work method i just want to go back to president trump and what
00:25:49.940people don't i think appreciate or realize the all-in commitment of president trump all 24 7
00:25:56.280seven days a week right talk to us about that and and and how that energizes your relationship with
00:26:01.540it well i mean even look at dni for example like that was just a tremendous opportunity
00:26:05.460tremendous experience. And President Trump was just laser focused on like, hey, look, let's make
00:26:10.160sure that we maintain sources and methods. Let's make sure we do things right. But at the same time,
00:26:13.900if things can be done to bring transparency to the American people, we need to restore trust in
00:26:19.060the government. And he did a historic declassification. He's still doing a historic
00:26:22.800declassification where he's getting this information out about what everybody has actually been up to
00:26:27.840behind the scenes, behind the backs of the American people. And he's just he's relentless
00:26:32.320in his work ethic. Everything you hear about his work ethic is all true. I mean, the guy is a
00:26:39.080machine. We've got about a minute. You saw the deep state up close and personal in D&I,
00:26:43.900but there's also a deep state on the financial and Wall Street side too, right? To make sure
00:26:47.800the rules are bent in their favor? Of course, of course. You know, when I was starting to attack
00:26:53.400some of these companies in terms of their cost structure, not the companies, but the cost
00:26:57.280structure of these companies um i was talking to a senator who's a who is friendly you know uh to me
00:27:03.880and he says you know just so you know you know you've fought different fights i'm sure in your
00:27:08.460life and even when i was you know you know talking about jerome powell and stuff he said but if you
00:27:13.700really want to understand how you hit power try to attack these wall street firms pocket books
00:27:18.940and see what happens and uh he's like you you struck power that's real power right these you
00:27:25.520know costing these companies money for the benefit of the american people that's the uh underlying
00:27:30.800theme of president trump director pulte we're gonna have you back in to talk about i love the
00:27:34.640war room thank you sir appreciate you i'm gonna say this the war room posse absolutely loves you
00:27:39.860you know why you're you're on point you're dedicated you're relentless and there's no
00:27:44.380backing down with you you're you're all engines ahead flying which i think is what we need so
00:27:49.840greatly appreciate you coming in. And I appreciate MSNBC, the New York Times, John Stewart, all of
00:27:57.220them agreeing that Bill Pulte's got one of the most important jobs in this administration.
00:28:02.740We're going to get a short commercial break. We're going after the New York Times next. John Carney
00:28:06.200from Breitbart, the economic editor, is going to join me next in the War Room.
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00:29:32.780Got one of my favorite people here, and I mentioned it yesterday, this Alan Rappaport over at the New York Times business guy wrote this huge piece about, you know, how I guess the world's abandoning America and America's business model and American capital markets.
00:29:53.560And it couldn't have been. And he's a smart guy, so it was done on purpose. I say it's an opinion piece dressed up to be a news analysis.
00:30:01.160So I took a little bit apart yesterday, but I wanted to bring in a heavy gun and it can't get heavier than John Carney, the editor, economics editor and finance editor over at Breitbart that did a pretty fundamental piece on it.
00:30:13.880So, John, first of all, just explain to the audience, this is a economic and financial hit piece.
00:30:21.000When you see Rappaport, a guy of his stature and smart, so he knows what he's doing and he knows what the facts are, but how he twists things.
00:30:28.760So this is a this is kind of a narrative warfare from the from the business press, sir.
00:30:36.680That's right. The point of the piece is to convince Americans that Donald Trump has just, you know, is hurting the U.S. economy, is hurting the U.S. status in the world.
00:30:49.340And it's to scare people, frankly. The entire thrust of the article is wrong.
00:30:55.640It says that the rest of the world is balking at buying American securities, at investing in America, at buying U.S. treasuries.
00:31:05.800The facts are actually completely the opposite.
00:31:09.460The U.S. dollar, U.S. treasuries are still at the top of the heap worldwide.
00:31:16.060Well, and I want to make sure at Denver, if you put back up, if you put up what we had yesterday, I just sent again, if we put this.
00:31:25.640By the way, folks, in the article, they admit in the buried lead we headed up yesterday.
00:31:32.420I just want to read it after saying, hey, guys are abandoning this and not doing that.
00:31:37.800And they get away from it because it's all Trump and Besson's fault.
00:31:42.380Private investors are still I'm quoting from the article.
00:31:46.120Private investors are still pouring money into American financial markets and stocks.
00:31:50.840artificial intelligence infrastructure is booming and no rival currency is poised to topple the
00:31:56.820dollar immediately which is eminently which is one of our themes on the show um they admit in the
00:32:03.040buried lead that everything else they're talking about then you can get into the details like if
00:32:07.600you had a package of you had a basket of uh treasury securities right they're up five percent
00:32:13.860in the first what year and three quarters of the trump's second term where biden at the same time
00:32:18.800is down 10 percent. But you can go back analytically on every accusation they're making and you see
00:32:25.180they twist it. But, John, they admit in the article that our markets couldn't be more like it. I think
00:32:31.200we trade a trillion dollars a day in government bonds. I mean, it's the most liquid. It's the
00:32:36.700most important capital market in the world. And it's more robust than it's ever been, Carney.
00:32:41.860So how could how could this guy try to make the argument that Trump and Besant have ruined
00:32:46.720American capital markets, sir? Look, it's pretty incredible. That one sentence destroys the rest
00:32:53.860of the article. And I really wonder if somebody, some editor made them insert that into it,
00:32:59.040because it is completely out of spirit with the headline, the lead of the story. And it really
00:33:06.720does undermine everything else that's in there. The thrust of this story is that the rest of the
00:33:13.100world is abandoning the US and doesn't want to invest in the US at all, and then they put it
00:33:18.060and is looking for alternatives to the US. And then they actually have to admit, OK, there is
00:33:23.700no alternative to the US. The money is still flowing into the United States. And frankly,
00:33:31.360I know Alan Rappaport is smart, and I actually do have a good amount of respect for a lot of
00:33:36.480reporting he's done at the New York Times. But I don't think a lot of reporters understand either
00:33:44.240what the dollar's role in the world really means. They look at it as like a service that other
00:33:50.400countries do for us, something that we desperately want to hold on to, and that they, the rest of
00:33:58.100the world, sort of grants us because they like us a lot. In fact, it's the opposite. The dollar's
00:34:04.080reserve status is a service that we perform for the rest of the world. We're actually providing
00:34:10.220them with an international currency that they use to clear trades with us, but also with each
00:34:16.880other. This is something that actually comes at a cost to the United States. They are not
00:34:22.320abandoning us because they're mad at Donald Trump. They actually continue to use it. And they will
00:34:28.860continue to use it because they have excess dollars, because they run predatory trade
00:34:32.800practices against the U.S. That's what's really happening. And I actually I don't think the New
00:34:37.500York Times editors understand this. I don't think most financial journalists do. And a lot of PhD
00:34:42.700economists don't get it either. Talk to me about why is why are we still having these arguments
00:34:50.300about the predatory trade practices of other countries? I mean, this is the whole Canadian
00:34:54.780thing. This is what we're dealing with China and President Trump's the tariffs, the central
00:34:59.720beating heart of President Trump's economic plan is, you know, lower taxes, particularly on
00:35:06.500capital that's going to go in, supply-side capital are going to go into manufacturing.
00:35:10.760There's tariffs as a forcing function. You've got, obviously, deconstruction in the administrative
00:35:16.960state. But what gets them so upset? Why do they continue to avoid the positive nature of President
00:35:22.940Trump's tariffs, particularly in this concept of reciprocity, of stopping the predatory trade
00:35:28.820practices of everybody, as President Trump said, was ripping off the American people forever?
00:35:34.540Yeah, I think it's overdetermined. For the one thing, it's an embarrassment to both the media
00:35:40.060and to economists, because frankly, they told us that this was going to be good for America.
00:35:45.740They ignored the predatory practices for so long that it took a political revolution of the
00:35:52.100election of Donald Trump for this to actually, for policy to actually be able to address it.
00:35:56.940So it's embarrassing. They can't admit it in many ways. The other thing is they really do have a sort of, I was going to call it a chalkboard, but there are no chalkboards in class.
00:36:08.080So a whiteboard version of the global economy where they say, well, yeah, we buy things,
00:36:14.740but eventually it'll all even out.0.92
00:36:16.840But 50 years of trade deficits and 20 years of Chinese, 26 years now of Chinese predatory0.60
00:36:25.400practices has really put a lie to the whiteboard economics version of things.0.97
00:36:33.420And then finally, the last part of it is just Trump derangement syndrome.
00:36:36.700Trump can do no good. Everything he says must be untrue. This article is actually basically just
00:36:44.280Trump derangement syndrome written in fancy words. It takes the assumption that the world
00:36:50.920must be abandoning the US economy because Donald Trump is president, and then it can't prove it at
00:36:56.320all. I mean, if you go through my article in the Breitbart Business Digest, which by the way,
00:37:00.400I'll just say it's free. Everybody can subscribe to it. It comes right to your mailbox. Go to
00:37:05.500Breitbart.com slash newsletters, you'll get this sort of thing in your mail inbox every day.
00:37:12.620What I do is I go through the actual numbers, the actual data, the facts, completely undermine
00:37:18.860their narrative that the world is abandoning the US dollar, US treasuries. The world is not. The
00:37:26.120world is actually in love with it. One of the things that's happened that's changed is that
00:37:30.700the world started to move away from US stocks, from the private sector, because Joe Biden was
00:37:38.800choking it off. We are now reprivatizing the US economy. We are empowering businesses, big and
00:37:45.520small in the US, to grow the economy, to reinvest in US manufacturing, and money is pouring into
00:37:51.240that and not just government as it was under biden john here's when trump you know they're
00:37:59.600they're the historians over at msnbc are you know recognizing that this is we referred to as the age
00:38:06.840of trump since he first came on the scene in 2015 and of course you were one of the the core guys
00:38:11.940at breitbart at the time that we saw this coming um it it's you had a globalist you had this neocon
00:38:19.200neoliberal globalist ruling class that was managing the decline of the United
00:38:25.560States and Trump says no we're not going to do that we're going to shift this
00:38:29.220back to the backbone of this country the working folks in the middle class and0.80
00:38:33.000we're going to return America to her former greatness and one of the ways0.99
00:38:36.900we're going to obviously immigration is huge cultures issues huge but on the
00:38:40.420economic side we're going to become economic nationalist and economic
00:38:44.800populist we're going to do we're going to have policies that empower the american people and
00:38:50.540we're going to have policies economically that put not simply america first but american citizens
00:38:57.460first economic nationalism and this is when you talk about trump derangement syndrome coming from
00:39:03.640the elites you know from the institutions from the think tanks from elite media from uh the elite
00:39:10.140universities and the faculty senates right from the elite investment banks all of across the board
00:39:15.760silicon valley the globalist corporations the clubs they all they hate that that is their plan
00:39:22.060is the exact opposite they're all globalists and so their lead newspaper is the new york times now
00:39:28.240the lead business paper is the wall street journal but the lead papers of new york times and the new
00:39:32.680york times business section is used as a weapon what rapaport does here and it's very sophisticated
00:39:38.120He's going to take and kind of mangle all the numbers to show that the world's capital, the smartest, you know, smartest guys in the world are avoiding the United States when it's the exact opposite.
00:39:49.320So that then, you know, Stephanie Rule and Jim Cramer and Morning Joe and everybody will have people on and say, look at this is terrible.
00:39:58.260It's another error in the quiver for them for the run up to the midterm elections.
00:40:02.800Do you agree that this thing is structured to defend the globalists on their failed policies
00:40:08.560by saying, hey, Trump's economic nationalism has been a failure on the global stage, sir?
00:40:18.400They want that message out there ahead of the midterms.
00:40:22.120You are right in the way that this article will be used.
00:40:25.000It will be touted as the New York Times said this, so it absolutely must be true.
00:40:29.960They want the story to be that Trump. So the irony here, right, is, as you said, they were managing America's decline. Trump has said no to the decline and is reversing it. In fact, we are seeing America ascendant.
00:40:46.560They want to twist the story and turn it upside down.
00:46:36.720but they are part of this BRICS situation,
00:46:40.860And Lula, who was because Brazil's the B, were very big in trying to drive this.
00:46:48.460Lula is now, I think, depending on the polling, five, six, seven points down on preliminary
00:46:56.160polling in his race in Brazil to Bolsonaro's son, who I think has just done a terrific
00:47:02.680job given all the scandals, phony scandals they tried to throw at him and the family.
00:47:07.120And of course, the situation with the father.
00:47:09.820So Lula does not have the commanding presence he had on these last BRICS meetings.
00:47:15.740The Chinese Communist Party particularly wants to figure out how to get a basket of security to somehow to break the stranglehold of the dollar.
00:48:27.180One of the things that I think is going to hurt us on king dollar is particularly if you need to, if you continue to run these huge deficits, as I keep saying, it's going to hurt eventually.
00:48:36.880It's harder to finance these massive deficits than it's ever been.
00:48:40.660Scott Besson's working nonstop to do that.
00:48:42.640That being said, you can't make the argument, as they try to in The New York Times, that, oh, you know, everybody's abandoning the United States.
00:48:53.800Now, we should have a national conversation about this because part of being or at least part of being throughout the world is to support those activities, particularly in the Persian Gulf where you have the petrodollar.
00:49:10.300My point on this is that this was using these major institutions, right, to target Trump and Besson.
00:49:21.400They've got an economic plan that is working.0.72
00:49:24.460And I think if you look at any indice, let's say X some ramifications of this war, and I realize you have to take that in the calculation when talking to the economy.0.94
00:49:32.980But if you look at the basic underlying plan, it's working and it's working better than it's ever worked.
00:49:38.500So the economic nationalism of President Trump, the tariffs, the supply site tax cuts, the deregulation, which are all to return America to be an American to be a manufacturing hegemon.
00:49:54.300What is my whole argument about artificial intelligence?
00:49:58.300In fact, I'll put up in the break, I'll put the Politico article about the state dinner and all the AI guys are now going to come for the state dinner.
00:50:05.960and Jensen Wong is going to be like the guest of honor with Xi and President Trump.
00:50:10.740And buried lead in the article, wait for it, where they say,
00:50:14.440oh, Jensen Wong's really full-on pushing for the United States to sell more advanced chips
00:50:22.400This is where we have to take the cold.0.68
00:50:24.140If this is a Cold War, let's get on with it.
00:50:26.580Let's take the same mentality that President Trump had, or excuse me,
00:50:29.980President Reagan had in the Cold War, which is we win, they lose.0.87
00:50:33.800There should be no accommodation, zero, particularly when the Chinese Communist Party is trying to lead the effort to break the dollar and to make sure that they try to break President Trump's tariff situation with their predatory, you know, East India Company predatory trade policies they do with other countries and they've done to the United States.0.82
00:50:56.500at the same time stealing annually 250 billion to 600 billion dollars of intellectual property0.99
00:51:03.720this is their entire game in the uh in artificial intelligence we should quarantine the chinese0.91
00:51:10.900communist party a global quarantine on every aspect of artificial intelligence is very simple0.98
00:51:16.160they get no chip sales we shut down the black market which we're looking the other way on let's
00:51:21.320be honest shut down the black market we do everything in our power to make sure they cannot
00:51:27.180compete with us for a decade on compute power then in addition and this is with us having some
00:51:35.400rationality to the data center program here even moratoriums until people until we get it together
00:51:41.060about exactly how these things are going to be done and how they're going to help local communities
00:51:44.820not trash local communities then on the intellectual property side of what they call distillation
00:51:50.140we should have a complete shutdown of their ability to access any intellectual property
00:51:55.920in the United States and steal it.1.00
00:51:58.440The Chinese Communist Party are parasites.1.00
00:52:01.360They're parasites on the great country of China1.00
00:52:04.140and one of the oldest and greatest civilizations in mankind.1.00
00:52:08.220There are parasites on Lao Ba Ching, the Chinese people.1.00
00:52:12.340But you might ask, why is the nation that's the great competitor of the United States0.97
00:52:17.640not even have a scintilla of democracy?
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