WarRoom Battleground EP 166: Fauci Under Fire, And What Is Next For The Trials To Come
Episode Stats
Words per Minute
167.31761
Summary
Stephen K. Bannon breaks down the Bank of England's monetary policy announcement, the new British Prime Minister, Theresa May, and what it means for the economy and the world at large. He also takes a look at the impact of the Trump administration's tax cuts and infrastructure spending cuts on the economy.
Transcript
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If you continue to look the other way and shut up,
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It's another element that backs them into a quarter
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This is why this audience is going to have to get engaged.
00:00:50.100
This is because basically this is him trying to explain a policy
00:00:59.400
unwinding of positions that are untenable in the current regime,
00:01:04.660
using very similar types of tools in terms of raising rates.
00:01:10.540
very sensitive about the concept of fiscal dominance right now.
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Almost immediately, the questions were asked at the Bank of England.
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Will they accommodate what this government is going to do?
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And when they first came up with the guilt market operation,
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pandering, accommodating what fiscal policymakers had decided to do.
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So I think it's really, really difficult for them to do now.
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And I think that's why we're seeing the kind of language,
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the approach that we've seen from Governor Bailey.
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The sense I get from him and the way he spoke yesterday
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that they might be contributing to so-called fiscal dominance.
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central banks helped offset a lack of action from fiscal policymakers,
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and risk perhaps disrupting things to such an extent
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that imperils the basic functionings of a capitalistic society?
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And this is going to become an increasing debate
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It is only right to explain why I'm standing here
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Right now, our country is facing a profound economic crisis.
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Putin's war in Ukraine has destabilised energy markets
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I want to pay tribute to my predecessor, Liz Truss.
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She was not wrong to want to improve growth in this country.
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And I admired her restlessness to create change.
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It's Tuesday, 25 October, in the year of our Lord, 2022.
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you've got these big debates tonight in Pennsylvania
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these huge industrial states in the Midwest and the Northeast.
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But the framework of what we've got is an economic,
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just got turfed out there by the capital markets,
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this irresponsible spending, spending, spending,
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particularly the people that didn't participate,
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that didn't participate in the rise of the assets
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and one of the biggest asset managers in the world,
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were those who were closest to the printing machine.
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you've been falling behind for the last 12 years.
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when they're running these massive budget deficits,
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they'll get paid either they default on the pensions
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but it's worthless because inflation is so high.
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These pensions needed to meet their obligations,
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They bailed out their pension funds, basically.
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And, you know, that's going to start happening globally.
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It's not going to be three quarters in a row negative.
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Consumption is going to be not a big part of that.
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And the Goldman Sachs financial conditions index
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because the Fed tried to play some games on Friday.
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to help the Biden administration leaked out on Friday
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because they're doing everything in their power
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primarily because they're pegged at 25 basis points.
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bond markets around the world are going to implode.
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they're going to try to keep this thing together
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and put on a pretty picture before the elections.
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After that, the real economy will come home to roost
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according to the U.S. Bureau of Labor Statistics,