Bannon's War Room - WarRoom Battleground EP 725： Senate Advances Trump’s CR, Democrat Party Collapses Because Of Schumer, Biden’s Fake Economy Crumbles

00:00:00.000 Republican bill to fund the government through September has passed a key procedural vote.

00:00:10.400 This is what inspired Donald Trump's thank you post to Chuck Schumer.

00:00:14.300 The Senate voted 62 to 38 to advance the bill.

00:00:17.180 Ten Democrats joined all but one Republican in voting yes.

00:00:20.880 Final passage of the bill is expected later today.

00:00:24.020 Do you think Democrats ever actually had leverage in this fight?

00:00:27.320 What leverage do we have?

00:00:31.260 Democrats keep showing up at every night fight with a casserole, you know, and they have these cheesy paddles.

00:00:37.240 And then, you know, pick your fighter cheeseball stuff.

00:00:40.700 You know, you know, where's your messaging?

00:00:42.860 Now, and if you think now you're tough to shut the government down, then what's how do you get back again?

00:00:48.380 Because millions of Americans are going to be impacted.

00:00:50.800 A lot of them aren't even going to get paid, but they all get paid.

00:00:53.960 You know, what's the exit ramp?

00:00:58.360 How do we even restart the government?

00:01:00.600 Why?

00:01:00.900 Because it's going to be under the terms of Musk and Trump and the GOP.

00:01:05.480 And Democratic Congresswoman Becca Ballant of Vermont.

00:01:09.900 Congresswoman, why do why are so many House Democrats mad at Chuck Schumer?

00:01:16.360 Well, and I do want to say it is across the ideological spectrum in my caucus, from blue dogs to progressives.

00:01:26.240 People feel like this was a moment that was a test for all of our leadership and not to blink and not to cave.

00:01:34.800 And this funding bill is not a clean CR.

00:01:38.240 It's not a clean continuing resolution.

00:01:40.080 It allows Musk and Trump to continue to wreak havoc on Social Security, Medicaid, Medicare.

00:01:49.120 It gives them a blank check to be mucking around in things they shouldn't have their hands in and trying to claw back money that we as Congress have already dedicated.

00:01:58.420 And so I want to be really clear that the statements that have been made by me and others from my caucus are representative of the caucus as a whole.

00:02:08.820 And we also felt like Leader Schumer was not communicating well with our leader.

00:02:15.000 And we took some really tough votes.

00:02:16.960 And this was such a show of strength and togetherness on the part of House Democrats.

00:02:26.220 And I felt like what we saw from Leader Schumer was was disorganization on his part.

00:02:33.060 Senator Jeffries, is it time for new leadership in the Senate?

00:02:37.220 Next question.

00:02:38.020 Mr. Jeffries, Mr. Leader, Mr. Leader, Mr. Leader, Mr. Leader.

00:02:40.200 Mr. Leader, Mr. Leader, Mr. Leader.

00:02:42.100 Mr. Leader Jeffries, Senator Chuck Schumer is from your state.

00:02:45.760 He clearly has a different view of this than you.

00:02:48.400 He is not saying, let's go back to the negotiating table.

00:02:51.140 He's saying, let's take this vote.

00:02:52.540 So have you lost confidence in him, the fact that you guys see this so differently?

00:02:57.660 Next question.

00:02:58.580 Leader Jeffries, I'm going to go back to my colleague's question.

00:03:00.880 Can you clarify what you mean by showdown versus shutdown?

00:03:06.040 Wow.

00:03:06.580 And we came to show you that Congressman from New Hampshire was the most rational.

00:03:10.260 You came to show the screaming, yelling, complete total meltdown.

00:03:14.360 And Hakeem Jeffries just said, next question.

00:03:16.480 I'm maybe going to address having his back because it's so far out of the league.

00:03:19.960 A full surrender.

00:03:22.440 Take your number two pencil out and write down clawback money.

00:03:27.820 The impoundments and rescissions are coming.

00:03:30.900 Remember the hardest part we had, you know, as hard as it was, it's Biden's numbers.

00:03:35.640 The $2 trillion deficit.

00:03:37.480 But the one that's stuck in our crawl was all the work done on Doge to date.

00:03:42.100 You're basically financing that to the end of the year.

00:03:44.000 Unless somebody has the stones to do impoundments or rescissions in other things that they're working on.

00:03:52.700 And trust me, folks, those are coming.

00:03:54.340 And she knows it.

00:03:55.420 She says right there, the clawback to money. 0.84

00:03:58.300 So he made the decision.

00:04:01.400 He said last night on Chris Hayes, it was about the courts.

00:04:04.220 And that's where we spent the first hour of the show going through this historic battle now, the legal battle that President Trump and that's a triumphant return to the Justice Department today.

00:04:15.180 Alex DeGrasse joins us.

00:04:17.100 Alex, you have your hand on the pulse of the House, but also the Senate.

00:04:21.600 This is a such a huge defeat for the Democrats.

00:04:26.500 I mean, they're finally getting some traction.

00:04:27.820 They got these town halls are yelling and screaming.

00:04:29.900 You know, Bernie Sanders is now back.

00:04:31.320 He's relevant.

00:04:32.380 You know, Rachel Maddow every night.

00:04:33.620 They're showing this resistance.

00:04:35.000 They're getting some a little bit of traction in the courts.

00:04:37.680 Finally, they got that guide on.

00:04:39.180 And then this is this this is what rips your your heart out.

00:04:43.460 This is soul crushing what happened today.

00:04:46.200 Alex DeGrasse.

00:04:49.000 Sort of, you know, in the weeds behind the scenes is that Hakeem Jeffries apparently was sort of caught off guard.

00:04:54.600 And so if they were coming into this with Schumer's plan where they were going to fold, they would have most likely given some more leeway to the more conservative, moderate members who now are on record not voting to support basic things like border security.

00:05:08.800 And other political issues that will be used in Republican ads against some of these members.

00:05:13.540 So I've heard they're really pissed.

00:05:15.740 New York is sort of the heart of it.

00:05:17.220 You saw Jill Brand and Schumer.

00:05:18.880 I don't know if you guys have put up the count because it just happened.

00:05:21.680 Ten Democrats voted to put this thing through both New York.

00:05:25.440 They're talking about AOC primary and Schumer.

00:05:27.960 I mean, people are melting down, especially in the House, because they're caught holding the bag.

00:05:32.500 Essentially.

00:05:34.360 See if that makes sense.

00:05:35.320 I know it does.

00:05:35.700 Talk about the court.

00:05:36.520 Hang on.

00:05:38.760 But I want to I want to connect the dots here that the House actually Hakeem Jeffries actually got the guys united.

00:05:45.080 I mean, Jared Golden from Maine, too, because he's he's in a tough district.

00:05:48.560 But he had the rest of the House because normally 50 or 60 of these House guys vote to make up the votes in the House Freedom Caucus.

00:05:55.040 Right.

00:05:55.340 Who always vote no.

00:05:56.600 The dynamic was here quite differently.

00:05:58.500 And Hakeem Jeffries had everybody set to basically fight.

00:06:02.600 And that's where all these town halls and got these people fighting.

00:06:05.020 Schumer never really read anybody into the plan.

00:06:09.020 Right.

00:06:09.320 This this thing, everybody thought kind of going down that this is going to be united front and fight.

00:06:15.160 And then he kind of pivoted in the last 48 hours.

00:06:17.920 That's is that why they're really steamed?

00:06:19.440 They got caught by surprise by Schumer's fold.

00:06:22.040 Yeah, I mean, Schumer, to his credit, he's sort of a slick operator here in D.C.

00:06:27.360 And I think they knew the polling.

00:06:28.780 We were looking at polling, you know, for them to be on the side of not shutting down the government for essentially.

00:06:34.680 I mean, it is a clean cigar.

00:06:35.980 This pod, this show's been hammering it.

00:06:38.360 Right.

00:06:38.540 We understand what it is.

00:06:39.700 So it's almost like not bad for them in many regards.

00:06:43.120 But they are living in fantasy land.

00:06:44.840 They can't even do the basics.

00:06:45.900 So the fact that he folded was eye opening.

00:06:48.880 It's horrible that they made the Democrats walk the plank is the term that we call it in politics.

00:06:54.340 You know, walking the plank, you take a vote that you didn't need to take in theory.

00:06:57.520 And I think you're going to start seeing, you know, you saw President Trump put out the statement praising Schumer.

00:07:03.600 He knows what he's doing.

00:07:04.540 I mean, he's he's trolling with these people.

00:07:06.240 No one does it better.

00:07:07.440 They're absolutely melting down.

00:07:09.120 You see everything playing out on social media because they don't have a strategy.

00:07:12.860 They're leaderless.

00:07:13.680 The polling has never been worse.

00:07:15.560 They're in the gutter.

00:07:16.580 I mean, some of this stuff is manufactured among the base, you know, the town halls.

00:07:20.040 They've got the energy.

00:07:21.080 These people are kind of on the coming on the back, you know, coming back again.

00:07:24.360 You know, the same people you mentioned, Matt, this, that.

00:07:26.520 That it's just not the same as 2017.

00:07:29.420 I think Schumer knows that.

00:07:30.840 And he knows if they were to go into a shutdown, they would implode because President Trump would gut many of the unnecessary parts of the government, I'm sure.

00:07:39.580 And Republicans would take a hatch to this stuff. 0.87

00:07:41.460 And then they have no guardrails at that point.

00:07:43.760 So he's he just gave an interview to Annie Carney that I was reading right before this.

00:07:47.840 And he says, look, I'm the only guy that, you know, I'll take the bullets.

00:07:51.200 This is what we had to do.

00:07:52.040 We would have got buried in a shutdown.

00:07:53.880 And he's frankly right, actually.

00:07:56.520 One of the things also Fetterman said the quiet part out loud because they didn't have a plan.

00:08:01.440 He said, what's the what's the end game?

00:08:03.340 What's the off ramp for us if we vote to shut this thing down?

00:08:06.980 And Trump keeps hammering because this is the thing that's got him shocked in every time.

00:08:12.440 And even sometimes in President Trump's first term, but always for Republicans, as soon as there's any resistance, the Republicans always fold.

00:08:21.260 President Trump right now, whatever your vertical is that he's working on.

00:08:25.600 And this is why the triumphant return to DOJ day for him to say, hey, look, we're only starting cleaning this mess up, but we're going all in is that Trump and any resistance.

00:08:36.080 It's all gas and no break, all gas and no break.

00:08:39.560 And that's what the Democrats have never seen this before.

00:08:41.740 So Fetterman was saying, if we do do this, tell me what our solution is.

00:08:46.820 And Trump guts us over the next four weeks.

00:08:49.360 How do we actually have an off ramp to actually reopen the government?

00:08:52.760 Because Trump's just going to be Trump.

00:08:54.240 I mean, is that basically their theory of the case behind the scenes?

00:08:58.100 Yeah, that's the theory.

00:08:58.980 I mean, they wouldn't be able to survive a shutdown.

00:09:01.400 You know, Schumer, I think, played around with this once when President Trump was in the first term, if you remember.

00:09:07.160 It didn't last that long for whatever reason, Democrats just when they enter the shutdown, they implode.

00:09:12.520 I mean, I just I think too much of their base is tied to the government, you know, and tied to getting paid and people people start freaking out.

00:09:19.860 And so they can't they're beholden to that.

00:09:22.320 So I think what you've always said, Steve, is we have a ton of leverage on the shutdown.

00:09:26.160 So, I mean, that's just something to think about as we go forward in general as Republicans.

00:09:31.200 But the polling's on our side.

00:09:33.180 I mean, their image of the Democrat Party is like 25 percent in battleground seats.

00:09:39.220 It's like even less 20.

00:09:41.080 You know, I mean, no one has seen numbers like this and you don't really see the media talking about it.

00:09:45.100 And it's unbelievable.

00:09:46.460 In my lifetime, we've never seen anything like it. 0.92

00:09:49.040 The Republican Democrat brand is a disaster. 0.98

00:09:53.720 Disaster.

00:09:54.200 And it's going to even get worse because they're not fighting for people.

00:09:57.220 That's what's killing them.

00:09:58.080 Before I let you go, because this audience is everything.

00:10:01.380 This is what's brought us to victory to get Trump back here.

00:10:03.820 It's got the the right to life guys, their freedom just across the board.

00:10:08.600 Wisconsin.

00:10:09.840 One more time.

00:10:10.960 How important, Wisconsin?

00:10:11.980 You're the guy that basically saved the republic by getting this audience involved years ago in redistricting, which everybody said these redistricting things are all insiders game.

00:10:20.500 We proved that political muscle of the grassroots can do it.

00:10:24.220 I tell you what, stay right there.

00:10:25.800 I've got Boris Epstein calling from over at a at a prominent building of 1600 Pennsylvania Avenue.

00:10:31.920 Boris, today, your team actually not only won, but it was amazing to see him there at the podium talking.

00:10:40.660 Give us your thoughts, particularly some of the dark days of twenty one, twenty two and early twenty three, sir.

00:10:46.020 Hey, and you know what?

00:10:49.100 Someone twenty four, too, Steve.

00:10:50.620 Don't forget, we had a trial in twenty four.

00:10:53.800 The fake news, absolute return of a trial in in New York, which President Trump and the team had to persevere through.

00:11:01.480 It was an honor to be there.

00:11:03.100 President Trump with an absolute powerhouse speech, crushing weaponization, crushing lawfare and ringing in what is a new day in law enforcement and the American system of justice.

00:11:14.640 It was it was it was great to see Todd Blanche in Mbobbe, of course, the attorney general of the United States, Pam Bondi.

00:11:20.920 It was a it's a big day and it's another moment for us to look back and see how far President Trump has brought this country in just a short of 50 plus days.

00:11:33.040 Boris, Julie Kelly brings up today that a year ago you guys were down in front of Judge Cannon on the documents case actually in court.

00:11:41.860 If you had pitched this, particularly because you had to put together a great team, but kind of a makeup team, because all the big law firms shut us out.

00:11:49.680 If you had pitched this to a Hollywood producer that, hey, here's the story.

00:11:54.160 And at the end, they're all going to be at the Justice Department running the Justice Department.

00:11:57.600 And Trump's going to walk in triumphant.

00:12:00.840 You got thrown out of the room.

00:12:02.760 What are your thoughts on the arc of of this journey?

00:12:05.320 You know, I believe that in the end, President Trump has had faith and God behind him.

00:12:15.800 I think the American people see what it is to have a real leader.

00:12:22.160 And that's why, as you know, Steve, from that moment that I called into this show on January 20th, 2021, from Joint Base Andrews when President Trump took off for Florida,

00:12:33.080 I told you then that I was confident that President Trump will be back in the Oval Office.

00:12:38.040 I was confident that the bad forces in America will be defeated.

00:12:41.720 I've stayed confident throughout.

00:12:43.080 I'm so proud of the team that President Trump has led, that defeated lawfare, that defeated the greatest weaponization of justice in not just America, but world history.

00:12:55.000 There's never been a lawfare campaign such as the one that Todd Blanche, Emil Boeve, and so many more lawyers defeated in working together under the leadership of President Donald J. Trump.

00:13:07.840 As you said, Hollywood wouldn't believe it, but we did throughout.

00:13:11.360 And, again, it is a moment of pride.

00:13:13.780 It is a moment of honor.

00:13:14.780 And most importantly, it's a moment of patriotism.

00:13:19.840 Last thing, President Trump today also, I think, energized everybody by saying, hey, he's not going to rest until all of this is set right.

00:13:28.520 That this will – it's not about him, but he's going to make sure with the work that that team does at Justice, at Maine Justice, and then the U.S. attorneys and all of it, and with confirmation of a new set of judges, that he's going to set things right.

00:13:44.040 And this will never be allowed to happen again, no matter the political beliefs or persuasions of any president or his administration.

00:13:50.360 This will never be allowed to happen again.

00:13:52.300 Am I correct in that, sir?

00:13:53.360 No doubt about it.

00:13:54.880 America is back.

00:13:56.280 The American justice system is back.

00:13:58.180 American democracy is back.

00:14:00.220 And all because of the overwhelming victory, the huge mandate given to President Trump by the American people.

00:14:07.060 We've rescued our country.

00:14:08.120 I must be honest.

00:14:08.780 From the absolute edge of a cliff, because that's where the radical lunatics and Democrats were driving it, President Trump is now in full control.

00:14:17.120 You're seeing everything he's doing on every single part of the spectrum, from the economy to foreign relations, national security, ending wars, and, again, ending weaponization and lawfare.

00:14:29.380 Success, unlike anything this country has ever seen.

00:14:31.680 And that's why everybody is energized.

00:14:33.180 Everybody is optimistic.

00:14:34.520 Even the Democrats can't deny the power, can't deny the strength.

00:14:37.220 It was an honor for me to be there today and to be a small part of the team.

00:14:43.360 Now, since you're such a big shot, I haven't had enough opportunity to say, you're coming in hot on social media.

00:14:48.300 What's your social media, Boris?

00:14:49.980 I am coming in hot.

00:14:51.360 It's at Boris EP.

00:14:55.100 It's at Boris EP on Twitter.

00:14:57.680 At Boris, at Getter.

00:15:00.000 At Boris EP at True Social.

00:15:02.560 And I'm coming in hot on the gram.

00:15:04.040 Boris underscore Epstein.

00:15:05.600 Stay strong.

00:15:06.260 God bless.

00:15:07.700 It's a new day in America.

00:15:09.480 Shabbat shalom.

00:15:12.720 Boris Epstein joins us.

00:15:14.000 Thank you very much, sir.

00:15:14.960 Great job.

00:15:15.560 Historic job.

00:15:17.040 Let's go back.

00:15:17.660 We have a few more minutes for DeGrasse.

00:15:22.300 Okay, fine.

00:15:23.340 He's going to get that camera right and join us back.

00:15:27.820 Historic day.

00:15:28.500 President Trump, if he had been a movie script, folks, and for you that have been with us for four or five years, you understand that against the longest of odds in that entire team that we followed so closely through all those trials and all those indictments from Atlanta to New York City to Miami to Washington, D.C.

00:15:51.240 All of it, all of it, those folks today are running the Justice Department.

00:15:55.580 They're the senior leadership of Maine Justice.

00:15:58.700 Do you understand?

00:15:59.460 Because the way that the progressive left, and this is why it started with Wilson, right?

00:16:05.700 Went through FDR all the way to the Watergate.

00:16:07.920 The way they understood that they could get control of us through the lawyers.

00:16:12.980 You know, I came from Wall Street and then from Hollywood.

00:16:16.420 And in Wall Street, you obviously have these huge white shoe law firms.

00:16:20.020 You're going to let me know as soon as DeGrasse is ready.

00:16:22.080 I don't want to slow him down.

00:16:22.900 I know he's got to be somewhere.

00:16:24.680 That they run, you know, obviously the capital markets and investment banking have lawyers.

00:16:30.200 In Hollywood, it's lawyers all over the place.

00:16:32.700 And it's very legal out in L.A. and very litigious, but they don't actually run the city like they do the imperial capital.

00:16:42.340 It is the law firms, the big law firms that run the imperial capital because most of these guys are lawyers.

00:16:48.440 And that's what President Trump, he just knows.

00:16:50.360 And he's just, he's had this pickup team.

00:16:53.700 They won, and now they're in Maine Justice.

00:16:55.360 And when you see Weissman, these guys tonight, there'll be a full trauma.

00:16:58.820 There'll be trauma on MSNBC tonight as they go through this.

00:17:01.520 Alex DeGrasse joins us.

00:17:03.100 Alex, you are the one that brought to this audience, first time ever, a grassroots audience on a national basis to say, hey, look, there's this thing called redistricting.

00:17:10.940 It's done at these state legislatures and these courts, and you've got to get involved.

00:17:15.940 I just want folks one more time before the early voting in person starts next week, we get everybody up on the ramparts.

00:17:21.500 How important Wisconsin is.

00:17:24.080 And they've got all these issues with Wisconsin.

00:17:26.400 They've got voting issues.

00:17:28.220 They've got Second Amendment issues. 0.97

00:17:29.660 They've got right-to-life issues.

00:17:30.820 And for the state of Wisconsin, this couldn't be huge, bigger.

00:17:34.420 But this has national and therefore global implications about it's a six-to-two right now congressional delegation.

00:17:42.240 And she's on record.

00:17:43.460 I think she's sending out e-mails on fundraising.

00:17:45.860 The focus is get it to four-to-four to pick up two seats.

00:17:49.400 And if they do that, folks, we're going to have a dogfight anyway.

00:17:52.700 People should just understand that.

00:17:53.840 But this is going to be – it's going to be quite tough.

00:17:57.120 Alex O'Grath, your thoughts on Wisconsin, sir?

00:18:00.800 Yeah.

00:18:01.200 So, you know, rewind back every 10 years, we do the census.

00:18:04.660 Then we do redistricting two years after that.

00:18:07.220 So it was 2022 where the posse stepped up.

00:18:09.740 Florida, boom, boom.

00:18:10.940 You know, Tennessee, we go down the list.

00:18:12.660 We got it done.

00:18:14.140 That's what delivered us the House.

00:18:15.580 There's no doubt about that from a structural point of view and what's held it.

00:18:18.780 But what's really bizarre is that the Democrats are so weaponized and so ruthless like they are on every front that they're able to somehow claim that they can redraw Wisconsin's lines in the middle, you know, of the 10-year term for these maps.

00:18:33.600 So it's just frankly bizarre and illegal, I would argue.

00:18:37.760 And so they're open about it and blatant.

00:18:40.020 They would steal the republic right from us if they had the opportunity to.

00:18:45.000 There's going to be $100 million on the table that we can even count.

00:18:48.180 That's not counting the untrackable money that the Democrats are really pros at through LLCs and all these Arabella.

00:18:54.780 You know, Natalie Winters is always talking about it.

00:18:56.900 This thing is the whole ballgame, frankly, over the next two weeks.

00:18:59.920 We need everyone to dig deep.

00:19:02.400 Get your list.

00:19:03.060 Ten people.

00:19:03.900 You can call from anywhere across the country.

00:19:05.860 If you're in Wisconsin, you've got to get involved.

00:19:07.680 You've got to donate your time, your money, whatever we can.

00:19:10.380 Spread the word.

00:19:11.500 It's a turnout race because it's sort of at an odd time.

00:19:14.220 Not many people are paying attention.

00:19:15.600 It will be who wants it more.

00:19:16.960 The posse's got to come up big because we will have the opportunity to clean the rolls.

00:19:21.940 Everything that we want to do will get done if we flip the court, of course.

00:19:28.240 Alistair Grasse, I know you've got to go tonight on something very important, religious-oriented Alistair Grasse.

00:19:33.760 We're very proud of you, young man.

00:19:35.660 Thank you.

00:19:35.980 Social media, sir.

00:19:38.820 Where do people go to follow you?

00:19:39.880 DeGrasse81 on X, get her truth.

00:19:43.360 I can't stress Wisconsin enough.

00:19:44.760 Thank you, Steve, and thank you for the posse for all of that work redistricting.

00:19:48.060 And I love when people come up at the airports and want to talk about it, how they were involved.

00:19:51.980 It's great.

00:19:52.400 So thank you, guys.

00:19:54.940 Thank you, bro.

00:19:55.620 Thanks for the update.

00:19:56.380 Massive win from President Trump today.

00:19:59.160 The government stays open.

00:20:00.420 And I'm telling you, remember what the congresswoman, congressman from New Hampshire said?

00:20:05.540 Hey, these guys are going to claw back money. 1.00

00:20:07.460 Wait for it.

00:20:09.020 So hopefully as early as next week.

00:20:10.580 We'll get you up to date on tomorrow's show.

00:20:12.360 Okay.

00:20:12.960 Ed Dowd, one of the smartest guys I know from Wall Street.

00:20:17.700 You've put together, I guess you're a kind of metric model for 2025.

00:20:21.720 I want to take a few minutes.

00:20:23.100 And, hey, we're going to give it to you with a bark on, folks.

00:20:25.600 This is Ed's working through some numbers.

00:20:28.480 So, Ed, walk us through what you anticipate happening.

00:20:33.040 You know, Scott Besson saying, hey, look, if we just kept spending money, everything would be fine, but we can't.

00:20:38.400 Ray Dalio saying we could have a sovereign debt crisis.

00:20:41.600 We've got to cut the spending.

00:20:43.440 What do you say?

00:20:44.180 Talk to me about your thoughts about the economy.

00:20:47.260 Yeah.

00:20:47.500 So thank you, Steve.

00:20:48.780 Yeah, we issued a U.S. economic report, dangers of the deep world war recession in 2025.

00:20:54.660 It's available for sale to institutional high-net-worth individuals, family offices, and RIAs.

00:21:00.880 It's an institutional quality product.

00:21:03.600 But I want to give your viewers a sense as to what we're talking about.

00:21:06.500 Bottom line, the government spending really supported the economy for the last few years.

00:21:12.120 And it was primarily government spending, illegal immigration, and I guess funding—what we're finding now is funding a bunch of NGOs to enable the illegal immigration.

00:21:22.620 And that's all going the other way.

00:21:24.540 Without the government spending, we probably would have dipped into a recession.

00:21:28.820 I have one chart.

00:21:29.940 The second chart that I gave your producer shows exactly what I'm talking about.

00:21:35.120 It's got the PMI and the GDP growth.

00:21:39.120 There it is.

00:21:40.040 If you look to the right, you can see the gap between GDP and PMI.

00:21:45.660 PMI has been below 50.

00:21:48.120 And so we've been in a recession, essentially in the real economy.

00:21:52.240 And the GDP was floated by $2 trillion deficits, government spending, and illegal immigration.

00:21:57.980 And that is unsustainable.

00:22:00.620 That's why Donald Trump was voted in.

00:22:03.140 The middle class was already in a recession.

00:22:05.640 And the illegal immigration was disrupting the societal fabric of the country. 0.91

00:22:11.340 And I want to point out to your viewers, the numbers are huge.

00:22:15.020 Legal net immigration is a million a year.

00:22:17.780 We blew that out.

00:22:18.840 You know, we have 10 million border encounters we know about.

00:22:21.940 It's probably 15 to 20.

00:22:23.340 That's a total distortion of our economy, the multipliers on bringing legals in and giving

00:22:29.180 them rental accommodations and stimulus, not to mention the logistical monies given to

00:22:35.560 NGOs to get people here and set up.

00:22:37.860 It was just a massive, massive fraudulent spend, in my humble opinion, because obviously they

00:22:42.720 broke the law to do this.

00:22:44.620 And that's basically what Scott Besson is talking about.

00:22:47.880 It has to be reversed.

00:22:48.980 That's why Donald Trump was elected.

00:22:50.240 And unfortunately, go ahead.

00:22:53.660 Yeah.

00:22:55.140 Hang on.

00:22:55.720 I just want to make sure, analytically, because you're an analytical guy, you're a numbers

00:23:00.460 guy, you're showing what we've been saying, is that the Biden, with this massive deficit,

00:23:06.780 this Keynesian infusion, that if you took out the government spending and you took out

00:23:11.600 the illegal aliens, which came in, obviously, if you have more people, you're going to have 1.00

00:23:15.280 higher GDP.

00:23:15.920 We would have been in not just a recession, maybe a pretty significant recession during

00:23:20.820 Biden's thing.

00:23:21.600 It was all just printing money that kept it afloat and had any kind of, you know, phony

00:23:27.420 nominal economic growth.

00:23:30.440 Correct?

00:23:30.820 Is that what your model shows?

00:23:32.980 Yeah.

00:23:33.340 And, you know, let's let's go back to, you know, a couple of years ago, I came on your

00:23:37.420 show and told you we were predicting a recession for the end of 23, beginning of 24, as we were

00:23:45.060 among a lot of notable economists.

00:23:47.680 And we got it wrong.

00:23:48.760 And we were wondering, how did we get it wrong?

00:23:51.240 Have the laws of economic fundamentals changed?

00:23:53.360 So we reverse engineered it.

00:23:54.800 And this is what we discovered.

00:23:55.980 And obviously, this was not sustainable.

00:23:58.740 And Trump was elected to basically eradicate this.

00:24:02.800 It's going to bring, unfortunately, some economic pain.

00:24:06.120 And more importantly, what a lot of people aren't talking about is how the illegal immigration

00:24:09.220 kind of held up the housing market.

00:24:12.680 And they didn't necessarily buy new homes or starter homes, but they were renters.

00:24:18.460 And that flowed through the system and held up housing prices, which are stagnant to dropping

00:24:22.800 now.

00:24:23.180 And we have a chart I'd love to show that's kind of a money chart for us, a nugget in our

00:24:29.460 report that we're selling.

00:24:31.160 If you want to put up the next chart, I'd appreciate it.

00:24:35.140 Yeah.

00:24:35.880 And what does this chart tell me?

00:24:38.880 This chart shows building permits in red, annual housing stock growth and population.

00:24:45.720 And the dotted line is illegal immigration.

00:24:48.200 And you can see the big dip was due to COVID deaths, excess deaths.

00:24:52.140 And you can see the permits, new permits are already rolling over.

00:24:56.120 And that's a great lead indicator for housing prices.

00:24:59.960 And you can see the massive influx of legal immigrations to the housing stock.

00:25:05.680 Granted, they didn't buy homes, but they supported the housing market.

00:25:09.240 As we reverse all this, we're going to have a 2008-2009 housing crisis.

00:25:15.680 We're going to have one internationally as well.

00:25:17.600 We detail that in our report.

00:25:19.620 And it's coming.

00:25:20.520 And there's nothing you can do about it.

00:25:22.140 Demographically, the millennials are peaking out in their prime purchasing age group in

00:25:26.760 2026.

00:25:27.640 So this is endogenous to the U.S. economy.

00:25:30.180 There's nothing we can do about it.

00:25:31.400 We just have to live with it.

00:25:34.820 Ed, I want to hold you through the break.

00:25:37.280 And man, oh man, the last 30 minutes of the show, the last 22 minutes of the show is going to be on fire.

00:25:45.360 I've got John Lechner on the surrounded Ukrainian army in Kursk.

00:25:52.080 Spencer Morrison's here about to reverse the lies about tariffs.

00:25:57.140 Ed Dowd's going to say, I need to add doubt about Ray Dalio saying we're going to have a sovereign debt crisis.

00:26:02.940 And I've got Kevin Dolan is going to be on here to talk about a very important conference coming up in Austin, Texas.

00:26:08.840 And the year of radio to understand.

00:26:12.300 It's going to be wild, but we're going to get it all done.

00:26:14.520 You know why?

00:26:15.460 This is a triumphant Friday.

00:26:17.900 These don't happen that often, folks.

00:26:19.460 Birch Gold, when Ed Dowd comes back, this is, you know, and I'm trying to get Philip Patrick on because there's some underlying issues with gold as a hedge.

00:26:32.060 Gold's on fire.

00:26:32.800 It's not supposed to actually act like this.

00:26:35.300 It's supposed to be a hedge and a store of value.

00:26:38.240 Birchgold.com slash war room or slash Bannon, actually.

00:26:44.200 That would be me.

00:26:44.980 You get the end of the dollar empire, including the sixth free installment.

00:26:50.260 They're all free, but you get the sixth free installment.

00:26:52.980 Modern monetary theory, the idea that broke the world.

00:26:56.560 And Ray Dalio would agree with that.

00:26:58.260 He doesn't agree with war room on much.

00:27:00.660 Short commercial break.

00:27:01.680 An entire all-star team next.

00:27:07.380 You don't go out and buy a life jacket when the boat is already sinking.

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00:31:30.700 Here's your host, Stephen K.

00:31:52.740 Bannon.

00:31:55.820 Folks, we are going to need you.

00:31:57.780 The reason we had these victories today, whether they're Catholics in Morristown, New Jersey,

00:32:02.940 or whether there's President Trump triumphant return to the Justice Department,

00:32:07.440 or whether it's Schumer surrendering, it's because of you and your ability to man the ramparts.

00:32:15.640 Hometitlelock.com.

00:32:16.940 Make sure that you're not wrapped up in somebody monetizing your title to your home, your real asset.

00:32:26.440 But, right, you've heard Dowd say how hard it is even to get in a house.

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00:32:43.820 So, Natalie Dominguez and the entire team there are ready, standing by to talk to you about this.

00:32:49.460 What do you do?

00:32:49.860 You go to Hometitlelock.com.

00:32:51.500 Steve 25.

00:32:52.940 Do it today.

00:32:54.120 Hear what they have to say at Hometitlelock to make sure you can still man the ramparts.

00:32:58.580 We don't have time to play it because we are pressed for time.

00:33:01.160 Ed Dowd, we're going to have you on next week on The Morning Show to walk through this in more depth

00:33:04.740 because it's pretty shocking.

00:33:06.200 It reinforces something we've been saying about this out-of-control government spending.

00:33:09.180 Something that Scott Besson says that he and Trump are going to take on,

00:33:12.720 and that's what this whole thing today on the CR was.

00:33:14.740 It all ties together.

00:33:16.220 But one thing Ray Dalio has said, brother, and you just tweeted it out,

00:33:21.100 about a supply-demand mismatch about selling, I don't know, $10 or $12 trillion of government securities this year

00:33:28.100 to refinance this $36, $37 trillion debt.

00:33:31.740 Is Ray Dalio telling us in so much Wall Street jargon that we're going to have a sovereign debt crisis, sir?

00:33:39.180 I don't believe we're going to have a sovereign debt crisis.

00:33:41.760 I think Bank of Japan is first up for that.

00:33:44.540 And, you know, look, I'm bullish on long-term Treasury yields.

00:33:48.040 They're going lower, and prices are going higher.

00:33:51.140 If we're right on our U.S. economic report, yields will go down.

00:33:55.140 The Fed will have to cut.

00:33:56.040 And I think Scott Besson, due to this restructuring of the economy, will get a recession,

00:34:01.740 not because, you know, his policies caused it.

00:34:04.180 It just couldn't go on, and it had to stop because no one wanted to bring in, you know, 0.57

00:34:08.200 three to four million illegals every year that just destroys the culture. 1.00

00:34:12.440 So we're going to see yields go lower, and he's going to be able to term out the paper on a long-term basis.

00:34:20.560 I have no doubt in my mind we will see long bonds in 10 years a lot lower when this is all said and done.

00:34:28.200 We're going to put Ed Dowd on the sales desk.

00:34:30.460 Ed, where do people go over the weekend on social media to learn more about your report?

00:34:34.800 We'll have you on back next week.

00:34:36.000 Where do folks go?

00:34:36.640 People can go to financetechnologies.com, P-H, instead of an F, to buy the report.

00:34:44.320 Again, it's priced for institutional investors, high net worth,

00:34:48.180 and people that have a lot of assets of other people's money to manage.

00:34:52.580 You can also follow me on Twitter, at DowdEdward, D-O-W-D-Edward, and getter, at EdwardDowd.

00:35:00.380 Your stuff is on fire, sir.

00:35:02.100 People got to follow you on social media.

00:35:03.540 You're putting up great stuff all the time.

00:35:04.820 Thank you, Ed.

00:35:05.880 Appreciate you.

00:35:06.800 Thank you, Steve.

00:35:09.680 Spencer Morrison, an integral part of this is tariffs.

00:35:13.160 That's all they're doing now.

00:35:14.260 The Dow came back $600.

00:35:15.360 I think it added a trillion dollars in market cap today, so everybody take a deep breath.

00:35:19.620 But it's just relentless lies and misrepresentations.

00:35:22.600 I understand your book is getting a broad reading inside the executive office building and the White House.

00:35:30.400 Reshoring is the book.

00:35:31.580 It's a must-read now.

00:35:32.680 The timing is exquisite.

00:35:34.100 I want to give Gray Delaney and the team over there at Calamo just incredible about the timing.

00:35:39.120 But when I hear it all day long, and we had Rickards on this morning, says it's relentless.

00:35:43.600 When you say every show, every business show, MSNBC, CNN, people don't know what they're talking about.

00:35:49.060 They're saying this is nothing but a cruel tax on the poor.

00:35:53.340 These tariff people, these are all billionaires who want these tariffs.

00:35:55.780 What is your response, Spencer Morrison?

00:35:58.880 Well, the reality is that the media parrots what they're told to talk about.

00:36:02.900 This is a top-down talking points from the elites, whether they're from Wall Street or Davos more broadly.

00:36:09.640 The reality is that the academy that's coming up with these talking points is disconnected from reality.

00:36:14.700 They're mistaking their economic theories for economic realities.

00:36:17.920 Things like comparative advantage are based on false presumptions rather than on historical evidence.

00:36:23.940 So part of the reason that all of the evidence, and I mean all of it, coming out of the mainstream media is wrong is because the theories that they're basing their comments on are completely wrong.

00:36:36.060 And then the second issue is that the financial interests that prop up a lot of these news rags, they're corrupt.

00:36:42.780 Economic globalization and offshoring has created enormous amounts of wealth and profit, but that profit hasn't gone to the American people.

00:36:50.740 It's been going to a select few, the people that own the system, right?

00:36:54.700 It's going to the empire's corrupt elites.

00:36:56.840 And I'd just like to talk very briefly about the reality of tariffs.

00:36:59.860 Tariffs are not likely to increase the cost of goods, not in the short term, and they're actually going to drive down prices in the long term.

00:37:07.940 In the short term, you're not going to see much impact because Americans can just buy American and they're not going to pay the tariff, right?

00:37:14.880 The price difference between American products and Chinese products is on average like 4 percent, which means that you could put 100 percent, you could put 1,000 percent tariff on Chinese goods.

00:37:25.500 It's not going to raise the cost of goods by double or 10 times.

00:37:28.580 You're going to buy the American good.

00:37:30.440 It's going to raise the cost to the American good, which is a couple of percent.

00:37:34.280 So tariffs are not going to, they're not the boogeyman, right?

00:37:37.940 The other thing that's really important to remember is that tariffs are going to reshore our factories.

00:37:43.240 And manufactured goods are subject to the law of what's called increasing returns.

00:37:47.060 That means the more goods you make, the cheaper the goods become, right?

00:37:51.360 So if America were to make more goods in American factories, we're actually going to lower the cost of goods in the long run.

00:37:57.960 And that's going, you know, so tariffs, you know, on a 5 to 10-year horizon, they're going to lower the cost of goods.

00:38:04.280 They're going to make us richer.

00:38:05.880 And the third point that I just need to make here, the only way, the only way that goods go down historically is when we increase productivity, when we invent and when we innovate and we implement new technology.

00:38:19.820 And you know what the best catalyst for that is?

00:38:21.860 The best catalyst is high labor prices, right?

00:38:24.740 So when we reshore our factories from places where labor is basically free, like China, we're going to reshore those factories, bring them here. 1.00

00:38:33.180 And there's going to be a really big economic incentive to invest in new technologies, which is ultimately going to bring the cost of goods down in the long run.

00:38:40.240 And that was the historical paradigm for hundreds and hundreds of years.

00:38:44.060 People were innovating and making factories more efficient.

00:38:46.820 When we shipped the factories abroad, the factories actually got less efficient because they didn't care about investing in labor-saving technology.

00:38:52.980 So when we reshore the factories, we're going to have more technology, more innovation, and that's going to make goods cheaper, not just for us, but it's going to be cheaper for everybody.

00:39:03.580 Ultimately, the world prospers when America prospers.

00:39:06.600 And the only way to do that is to reshore our factories. 0.98

00:39:09.000 Man, it is so amazing that that pitch you have is incredible.

00:39:16.960 And the book is now, I know, being read widely in the executive office building and in the West Wing.

00:39:23.760 The book, where do we get it, Spencer?

00:39:25.980 It's a must-read, particularly for today's economy.

00:39:29.780 Where do people go?

00:39:31.360 Thanks, Steve.

00:39:32.000 I really appreciate it.

00:39:33.400 The book, it's available on Amazon.

00:39:35.480 I hear it's sold out right now.

00:39:36.880 So if you go, I think you can still get it directly from the publisher.

00:39:40.500 So if you go to Calamo, I think it's calamopress.com, you can get the book directly from them.

00:39:44.800 Or just wait until next week.

00:39:45.980 We should have some more books coming in.

00:39:49.040 I love it, dude.

00:39:50.620 The War and Posse stuff, but people love this book at every level, and it is exquisite timing.

00:39:55.160 Social media, where do they go, Spencer?

00:39:57.700 I'm available on X.

00:39:59.260 It's Real S.P. Morrison.

00:40:01.480 You can also check out my work on the National Economics Editorial.

00:40:05.460 And I have a column on American Greatness on Unblaze Media.

00:40:08.820 Thanks a lot, Steve.

00:40:09.760 And just God bless you for getting this message out.

00:40:13.960 No, it's you, brother.

00:40:15.220 We just provide the platform.

00:40:16.420 You're the man.

00:40:17.440 Incredible work.

00:40:18.280 An incredible way you've thought it through.

00:40:19.580 Thank you, Spencer.

00:40:21.100 Love you, brother.

00:40:21.720 God bless.

00:40:21.800 John Lechner here early in the week.

00:40:25.880 And much of this debate going on, death is our business.

00:40:29.940 He talks about the mercenary armies of Russia, but he also talks about people who are to the right, the ultra-nationalists to the right.

00:40:36.620 I know this sounds odd if you've watched mainstream media.

00:40:39.380 Putin actually might be described as a moderate, given some of the stuff that's going on.

00:40:43.700 We've only got about five minutes, John, but I've got to ask you a point-blank question.

00:40:47.860 Putin's saying, hey, look, you know, this army, the Ukrainians are in Mother Russia, have got to go, right? 0.99

00:40:55.960 Talk to us about that.

00:40:57.020 Are they really surrounded?

00:40:58.380 Is this going to get even more violent?

00:41:00.340 Is there some way to negotiate this out?

00:41:02.100 And do you think this peace deal is predicated upon this, particularly as Putin's got guys that are even more nationalists than him, these ultra-nationalists in Russia, sir?

00:41:14.600 Yeah, thanks for having me on again.

00:41:16.380 I think from what I've been hearing on the ground, the Ukrainians are retreating.

00:41:23.280 In some cases, it's chaotic, but they aren't currently fully surrounded by the Russians in the region of Russia that they went into, which is called Kursk.

00:41:35.480 But for Putin and for the Russians more generally, look, we're going into a peace deal.

00:41:41.700 Usually when you go into these negotiations in a war, one side is in a stronger position than the other, and they're going to look to take as much advantage of that as possible.

00:41:51.040 And that's what the Russians are looking to do. 0.92

00:41:52.720 For Putin, as you mentioned, his biggest fear is to the folks on the right of him, right?

00:41:59.480 That's where you have the Russian nationalists, the right wing, which has a degree of support within Russia's security services.

00:42:08.520 It's important for him to portray himself as sort of the savior of Russia who is solving this problem for them.

00:42:20.160 And in order for him to do that, he has to be able to sell whatever he's bringing back from a peace deal as victory to the Russian public, right?

00:42:28.720 And one thing that would certainly not constitute a victory is if Ukrainians still hold actual Russian territory.

00:42:35.820 And so what I think you're looking at right now is an effort by the Russians to get the Ukrainians out of the Kursk region so that they're more ready for a ceasefire that's even more on their terms than it was beforehand. 0.77

00:42:51.600 This is of the entire war.

00:42:54.120 This is, I think, the most brilliant stroke of Zelensky in his military command.

00:42:58.720 This is sacred space in Mother Russia.

00:43:01.120 This is, Kursk is the largest tank battle in history.

00:43:04.760 I think they had 6,000 tanks, 2.2 million men, even probably more than Stalingrad.

00:43:11.140 And that's, you're talking about two of the biggest battles in mankind's history.

00:43:14.360 For the Ukrainians to get up there and to get close to taking that territory, it was looked at as an affront to the Russian people and particularly the Russian ultra-nationalists, was it not, sir?

00:43:24.880 Oh, absolutely.

00:43:25.760 I mean, this was something that was an incredible affront.

00:43:30.560 I mean, for the guys who fought in Wagner, the guys that I interviewed for my book, you know, again, this was an existential thing.

00:43:37.640 The last time Russia had been invaded by any force within its kind of traditional territory was, like you mentioned, in World War II.

00:43:46.260 And that war has, as it does for Americans, but also for the Soviets and the Russians, an incredible historical resonance.

00:43:56.940 And so it is important to Putin, therefore, that he be seen, again, as the strong nationalist leader, as sort of the leader of the Russian nationalist movement.

00:44:08.380 And that can't work as long as the Ukrainians are still in Russian territory. 0.96

00:44:13.180 I've got about two minutes.

00:44:17.900 Tell me, how do you think this develops over the next 72 hours?

00:44:21.340 Did we have you back on early next week?

00:44:23.740 How do you think this develops?

00:44:24.980 Because I think people, you know, his position, President Trump looked like he reached out and was trying to get something done.

00:44:29.240 He came back with a maximalist, you know, I need all territory.

00:44:32.780 We need all this.

00:44:33.720 I mean, it was like up in your grill and you kind of thought, well, I guess we're not going to get a ceasefire.

00:44:39.480 What are your thoughts, sir?

00:44:40.700 Well, look, it's going to be a long process no matter what.

00:44:43.940 I mean, even if – and I know there's a lot of folks who served in the military before, so they'll know this.

00:44:52.260 I think even a ceasefire itself is something that is going to be very difficult to achieve because this is a long front at this point with two humongous militaries.

00:45:03.720 It's mostly filled with conscripts, so people who haven't fought as professional soldiers but were drafted or conscripted at some time.

00:45:11.200 And they're facing off against each other.

00:45:13.140 There's no trust.

00:45:14.120 And so there's absolutely going to be violations as well.

00:45:17.460 And I think the Russians have even alluded to it that neither the Ukrainians nor the Russians will fully be able to control what's happening along that front.

00:45:26.020 It's not like the movies on World War II where an armistice is declared and people come up from the trenches, right?

00:45:31.920 There's still a lot of fear.

00:45:33.840 There's still so much kind of – that is uncontrollable along that front line.

00:45:39.400 And so there's going to take some time to even figure out what sort of enforcement mechanisms we can have for a ceasefire as well.

00:45:45.700 But the violations will absolutely be there no matter what.

00:45:49.000 Ian Bremmer confirmed to me today that his calculation is 850,000-plus dead and wounded in the Russian army alone.

00:45:58.860 Incredible.

00:45:59.520 The scale of this is almost incomprehensible.

00:46:03.020 John, your book is a must-read if you want to understand really what's going on in Russia today.

00:46:08.460 Where do people go to get it?

00:46:09.680 And are you going to do any more signings, book signings, where people can get to meet you?

00:46:12.440 No book signings, unfortunately, next week, but you can go order Death is Our Business on Amazon or visit your favorite bookstore.

00:46:23.300 It's in all the stores.

00:46:27.080 Death is Our Business.

00:46:28.200 John Leichner, you will not put this book down.

00:46:30.220 It reads like a novel.

00:46:31.160 John, thank you so much for making us think this thing through this weekend.

00:46:35.360 Appreciate you.

00:46:35.900 See you next week.

00:46:37.040 Thank you, sir.

00:46:37.540 Death is Our Business and reshoring.

00:46:42.140 You can get smart on two incredibly important topics for President Trump and our movement.

00:46:47.140 And I'm so proud that the reshoring is actually sold out, at least from its first printing.

00:46:55.020 Do we have Kevin Dolan?

00:46:56.360 Kevin Dolan joins.

00:46:57.240 Kevin, describe.

00:46:59.140 You've got a big conference coming up in Austin, Texas.

00:47:01.960 It's controversial.

00:47:02.860 I know it's good because the Guardian's already gone and said, you people are the worst people on earth.

00:47:08.520 But Terry Schilling and others are going to be there and say, you're pretty good folks.

00:47:12.200 Tell us, what's the name of your organization?

00:47:14.140 What's the conference?

00:47:15.240 When's it going to be?

00:47:16.060 And how can people participate or watch it or whatever, sir?

00:47:20.020 It's wonderful to be here, Steve.

00:47:21.240 Thank you.

00:47:21.640 It's natalconference2025natalism.org.

00:47:26.980 And, yeah, I mean, frankly, the media has got this completely wrong.

00:47:30.380 It's a nonpartisan issue.

00:47:32.720 Pretty much everybody wants to have families.

00:47:34.820 They want to have kids and grandkids.

00:47:36.960 And the challenge of our time is not sort of beating people over the head.

00:47:43.060 But hang on.

00:47:43.080 Dolan, Dolan, Dolan, Dolan, Dolan.

00:47:45.300 Hang on.

00:47:45.980 Hang on. 1.00

00:47:46.280 I understand you're some crazy mick. 1.00

00:47:48.460 But, dude, we've got 8 billion people in the world. 0.98

00:47:51.080 Your promotion is we need more babies. 0.96

00:47:54.260 Am I correct on that?

00:47:55.080 That's correct.

00:47:55.260 We need more babies. 1.00

00:47:56.200 Don't we have enough?

00:47:57.200 We got 8 billion people.

00:47:59.040 Why do we need more babies, brother?

00:48:01.380 So your prior guest spoke about the Bank of Japan facing a sovereign debt crisis.

00:48:06.960 And the Japanese have been – they've had impeccable game for pretty much that entire time.

00:48:12.680 I mean they're working really hard on productivity.

00:48:15.360 They're working really hard on educating their kids in STEM.

00:48:18.540 But the bottom line is there's only two ways an economy can grow.

00:48:21.080 It can grow through population growth or it can grow through technological advancement.

00:48:26.260 And basically what every Western country in the world is facing right now is a situation where our degrowth, our decline, is completely incompatible with economic growth.

00:48:37.980 And what that means is that all sorts of – I mean the way that your mortgage is priced, the way that your 401K is priced, the way that the dollars in your checking account are valued, all of that is based on systems that are predicated on leverage that require the promise of future growth to make capital markets work.

00:48:59.520 And so this is a collapse that's coming for every rich country and almost every poor country actually.

00:49:08.720 And so it's going to be – it's going to define the 2030s.

00:49:14.180 Basically how nations and communities handle this issue is going to define the 2030s.

00:49:19.720 And so that's why we're discussing it.

00:49:20.580 And let me guess – so this is going to divide the 2030s.

00:49:23.960 You're having – natalism is what?

00:49:26.520 The movement of people to have more babies, to have bigger families?

00:49:29.720 Is that what it is?

00:49:31.700 Well, essentially it's just about making sure that people can have their desired fertility.

00:49:36.860 I mean if everyone in America, if everyone in Europe achieved what they say they want in terms of their family size, there would be no demographic issue.

00:49:45.940 And we would have a very stable – it doesn't have to be like infinite, you know, everybody having nine kids.

00:49:53.180 2.1 is what you need for replacement.

00:49:55.460 And if everybody were achieving what their desired fertility is, we would be there.

00:50:02.940 It would be stable.

00:50:03.760 There would be no problem.

00:50:04.740 The issue is that people are not actually achieving what they want.

00:50:08.900 And that I think is how this has been mischaracterized in the media is that this is something that we have to push on people or force on people.

00:50:15.460 And that's not it at all.

00:50:16.500 It's about empowering people.

00:50:17.760 It's about helping people get what they want.

00:50:21.900 Okay.

00:50:22.480 I want to go – we're going to have you back on tomorrow.

00:50:24.380 We're going to restructure the thing.

00:50:26.180 I want to have this.

00:50:27.000 The conference is when – is it limited to people who can come?

00:50:32.020 Is it going to be streamed?

00:50:33.740 What's your website?

00:50:34.940 How do people get more – we want to get our audience smart.

00:50:38.980 Great.

00:50:39.520 These people are into the details.

00:50:41.140 They're into the receipts.

00:50:42.020 So where do they go?

00:50:43.200 Yeah.

00:50:43.520 March 28th and 29th in Austin, Texas.

00:50:46.400 Yeah.

00:50:46.600 It's natalism.org.

00:50:48.000 You can check it out there.

00:50:49.320 And you can get on the mailing list and get updates.

00:50:52.100 It's – we have all the videos from last year live on YouTube at Natal Conference.

00:50:57.640 So you can check that out there.

00:50:59.260 And it won't be live streamed, but we will be posting the videos shortly after the conference.

00:51:04.260 So go ahead and check that out.

00:51:07.480 Okay.

00:51:07.940 And your social media, where do people go to find out more about you and your movement?

00:51:13.920 Yeah.

00:51:14.140 So natalism.org on exit – I'm sorry, on X is the URL.

00:51:19.000 Thanks.

00:51:20.320 Thanks, Steve.

00:51:21.700 Kevin, thank you so much.

00:51:22.920 We look forward to having you tomorrow.

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00:51:36.760 Well, take out your phone and text Bannon, B-A-N-N-O-N, at 989898 and get and sign up for the ultimate guide for the purchase of gold and precious metals in the era of Trump.

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00:52:03.400 I want to thank the production team, Denver, my production team here.

00:52:06.240 What a show. 0.68

00:52:06.940 Wow.

00:52:07.700 That was two hours of pure energy like President Trump's showing.

00:52:14.180 We're going to be back tomorrow at 10 a.m. Eastern Standard Time for our Saturday show, my favorite show of the week.

00:52:19.440 And I will commit to you, guaranteed, we're going to be on fire.

00:52:23.980 We're going to leave you now with the right stuff off a masterpiece book by Tom Wolfe.

00:52:29.600 A brilliant movie by Philip Kaufman.

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00:52:36.140 We'll see you tomorrow morning at 10 a.m. when you will be back in the war room.

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Bannon's War Room - March 14, 2025

WarRoom Battleground EP 725： Senate Advances Trump’s CR, Democrat Party Collapses Because Of Schumer, Biden’s Fake Economy Crumbles

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