The Great America Show - RETRIBUTION

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00:00:30.000 Hello, everybody. I'm Lou Dobbs. Welcome to The Great America Show and great to have you with us this week.

00:00:35.380 We begin the week with further evidence of the FBI's corruption and arrogance acting more like gangsters than gangbusters.

00:00:44.580 The FBI expected to deliver today the FBI document that a House Oversight Committee whistleblower says implicates President Biden,

00:00:53.880 implicates him in a $5 million bribery scheme.

00:00:57.300 The committee subpoenaed the document, but for almost a month, FBI Director Chris Wray wouldn't even acknowledge its existence

00:01:05.020 and stonewalled the committee throughout, obviously trying to obstruct the congressional investigation

00:01:10.880 by concealing the file in order to protect President Biden.

00:01:15.880 Chairman Comer demanded that Wray deliver the file or else.

00:01:20.380 Comer ready to begin proceedings to hold Wray in contempt of Congress.

00:01:24.220 And at that point, and only at that point, did the FBI relent, promising to turn it over to the Oversight Committee today.

00:01:34.000 And you can bet the FBI drama is only beginning.

00:01:37.820 The agency is so politically corrupt, I truly believe it has to be dismantled and much of the Department of Justice with it.

00:01:45.720 House Judiciary Committee Chairman Jim Jordan says his number one goal is to end the FBI spying on American citizens.

00:01:54.960 Jordan telling Breitbart News that he means to stop the reauthorization of Section 702 of the Foreign Intelligence Surveillance Act, FISA,

00:02:04.680 which resulted in rampant spying on American citizens, which was abused relentlessly by the FBI and the Department of Justice

00:02:13.660 in the political persecution of President Trump.

00:02:17.360 Jordan, to his great credit, says ending the surveillance of American citizens is now his top priority.

00:02:24.100 And as he's the chairman of the Judiciary Committee, Jordan will have a major say in what happens.

00:02:30.320 Turning now to the McCarthy sellout and the McCarthy-Jeffries-Biden debt deal, if you can call it a deal.

00:02:38.640 Last Friday, President Biden signed into law the suspension of the national debt ceiling.

00:02:44.480 All made possible by McCarthy, 149 rhinos in the House and 17 rhinos in the Senate.

00:02:52.100 Let's compare what McCarthy promised and what McCarthy actually did.

00:02:56.880 This is McCarthy's promise to America as he campaigned for the Republican House in September.

00:03:03.920 If you trust us, hold us accountable.

00:03:06.500 We'll put it out to the entire country.

00:03:08.800 This is what we'll do.

00:03:10.820 But on that very first day that we're sworn in, you'll see that it all changes.

00:03:15.580 Because on our very first bill, we're going to repeal 87,000 IRS agents.

00:03:22.240 If you trust us, hold us accountable.

00:03:24.600 Those are the speaker's words, and I think we should take him at his word and do just that.

00:03:30.780 Hold him accountable.

00:03:32.380 There was no repeal of the 87,000 IRS agents in this bill, as the Republicans had promised, of course.

00:03:40.320 And there was nothing to do with the debt ceiling.

00:03:43.260 In point of fact, they suspended the debt ceiling.

00:03:46.020 They didn't lift it.

00:03:47.100 They just got rid of it until January 1st of 2025.

00:03:50.740 This deal is nothing more than a win for Biden and the Marxist Dems.

00:03:57.420 Steve Bannon is among those calling for the Republicans to take McCarthy at his word and hold him accountable.

00:04:04.300 Joining us now, Steve Bannon.

00:04:06.040 Steve, great to have you with us.

00:04:07.360 Thanks for being here.

00:04:08.740 Your thoughts, your reaction to what was by any estimation a gargantuan betrayal by Speaker McCarthy.

00:04:15.140 That's what I don't think is – I'm not looking at one.

00:04:17.540 We're ready to fight because you saw the beginning of the emergence of really you had the donor party, the unit party, and you have the opposition of that.

00:04:25.100 There's 73 votes.

00:04:26.260 There's 73 no votes, and that's the 71 that were recorded in, of course, Banks and Boebert.

00:04:32.100 You had 73 votes no.

00:04:33.900 You had 30 votes against the procedure, against bringing the rule to the House.

00:04:38.900 That's where early in the afternoon, McCarthy started being humiliated because rule votes are just like speaker votes.

00:04:46.860 And you had – we had the 20 before.

00:04:48.320 You had another 10.

00:04:49.700 They forced him to go to Hakeem Jeffries and to beg on the floor of the House.

00:04:54.620 He turned the House over a floor over to Hakeem Jeffries, who's really his coalition partner.

00:04:59.500 And Hakeem Jeffries cut a deal, as Hakeem Jeffries, a smart, tough guy, did.

00:05:03.680 He demanded more of earmarks, bigger earmarks, more rapid earmarks.

00:05:08.080 And McCarthy was asked specifically by every reporter there, when you talk to Hakeem Jeffries, were there any side deals cut in order to get the Democrats to come above the rule?

00:05:18.020 He looked him in the eye and said, no, there are no deals that cut.

00:05:20.100 That's a stone-cold lie.

00:05:21.840 He lied then and then later the 73.

00:05:24.440 So, look, we got him on record.

00:05:27.220 There's a good corpus of 73 people.

00:05:30.380 McCarthy couldn't even deliver the 150 minimum he promised to Hakeem Jeffries.

00:05:34.960 He got to 149.

00:05:35.920 So, complete humiliation for him.

00:05:38.560 It's not time to vacate the chair.

00:05:40.180 We're going to get to that very shortly.

00:05:41.520 But right now, the coalition government he had with MAGA and with the conservatives who's finished, his partner in coalition, is really majority leader.

00:05:52.520 Steve Scalise is not the majority leader.

00:05:54.720 The majority leader is Hakeem Jeffries.

00:05:56.460 The big win was the Democrats, a huge win for Biden and the radical Democrats on taking this, really giving them two years with no cap is, I think, the worst thing I've ever seen the Republican Party do to the American people.

00:06:11.400 Well, the way we've discussed it here is Speaker McCarthy goes over to the White House to negotiate the debt ceiling.

00:06:21.980 And President Biden simply said, I've got a great idea.

00:06:25.560 Let's just get rid of the debt ceiling.

00:06:27.000 We don't need to do it except, ah, we could let it run to January of 2025.

00:06:34.480 So, end of deal.

00:06:36.100 I mean, this is the most brazen, absolute capitulation I have ever seen on Capitol Hill by any one of the absolute frauds that have been running the place.

00:06:52.580 You've been doing this for a couple of three years.

00:06:54.820 I want to hit the rewind button on that because it's so important.

00:06:57.500 In watching this, and, man, we had Boehner, we had Ryan, you know, you've had Hacet, you've had, you know, Mitch McConnell forever.

00:07:05.020 In your mind, because I agree with you, but I want to hear it from you because you've got much more experience at covering this over decades and decades and decades.

00:07:12.340 Is this the worst portrayal and the worst capitulation you've ever seen?

00:07:15.240 Because of your point.

00:07:16.420 They literally, we gave them a one-year deal, $1.5 trillion in one year, which we weren't happy with.

00:07:21.920 But because it had that cap and that time, duration, we would accept it.

00:07:26.020 The first thing they did was take it off, give them an unlimited debt ceiling for two years, right, to spend $14 or $15 trillion, have $4 trillion minimum of deficit.

00:07:37.620 Is that the worst betrayal, the worst capitulation you've ever seen?

00:07:41.140 The worst that I have ever seen.

00:07:44.360 It is the worst that I could reasonably imagine.

00:07:48.900 When this negotiation began, I'm thinking, this is going farther than I thought it ever would.

00:07:55.240 But how in the world this Speaker of the House managed to channel Paul Ryan through every moment of discussion and negotiation?

00:08:06.240 I don't know, but he did it.

00:08:08.040 And the result is he turned his back on his conference, not just the Freedom Caucus, as you know, and the conservatives.

00:08:14.440 This man went full Marxist-dim, Biden regime acolyte, and is right now kissing the feet of Joe Biden as he considers his next political venture.

00:08:29.040 Lou, I can say it much better than I said it on the show today, but that's – and we're at – now we've entered into a real crisis.

00:08:36.440 McCarthy and the unit party, which is really the donors party, they represent the donors.

00:08:40.220 The reason – people should understand, the reason that the cap and the duration, the one you were taking off, is because the donors, in May of next year, there will be a dumpster fire on this economy.

00:08:51.020 They'll have blown through the cap, and they're going to want more money and bigger deficit.

00:08:55.940 They're going to be jammed up against the wall.

00:08:57.920 And a conversation is obviously going to be – part of that is going to be tax increases.

00:09:01.940 It's just going to be part of the conversation.

00:09:03.120 The donors – I know this from people around him.

00:09:04.900 The donors said we don't – we cannot have a conversation about taxes at the beginning of a general election.

00:09:12.480 We will not back that.

00:09:13.880 You've got to get us through the election.

00:09:15.180 This is the old – as you know, Lou, you've been here enough – McConnell's trick.

00:09:18.860 Kick it through the election a couple months and take it off so the low-information voters don't get included in this conversation.

00:09:24.820 We know this because the CNN polling – all the polling shows that 60 percent, 6-0 percent of the American people want only debt increases with significant budget cuts, significant cuts in federal spending, 45 percent of Democrats, and I think 75 or 80 percent of Republicans.

00:09:43.160 The betrayal here was a betrayal of the American people, betrayal not much more than the Freedom Caucus, but a betrayal of everybody that's really a Republican voter, a stark betrayal.

00:09:53.940 But also a betrayal of the American people who want to have a conversation, particularly want to have one next year.

00:09:59.160 As they've given Biden, the Biden regime, another year, another trillion and a half dollar deficit, another seven trillion in spending, they want to have the ability to review this.

00:10:08.420 And they took that review away.

00:10:10.200 And this is – it's a crime.

00:10:12.160 What Kevin McCarthy did is a crime against the American people, and he will be held accountable.

00:10:17.440 It's going to be a bigger crime than the business press or the so-called – the Illuminati of the opinion pages are at least admitting.

00:10:30.140 Within this, we have a fiscal policy disaster with that question.

00:10:34.960 And $4 trillion is just a handy number to throw at what was a 3x over the $1.5 trillion raise that the Republicans were willing to give, something they should never have, by the way, in my opinion, ever offered.

00:10:49.720 As a matter of fact, we can have a discussion about strategy and tactics here, but this couldn't have been much worse in the way of even the beginning strategy.

00:10:57.960 But why in the world isn't anybody talking about what the position this leaves the Federal Reserve in?

00:11:04.720 You're going to see rampant spending.

00:11:07.960 It's going to be not only Biden's runaway inflation.

00:11:12.640 It is going to be significantly greater pressure on the Federal Reserve now to raise rates.

00:11:21.200 And it is the worst decision that they could make because it is going to create recession.

00:11:26.100 And the Fed itself, just to digress for a moment, the Fed has had at its fingertips a way to not raise rates and to run off the balance sheet and accomplish precisely the same thing, but they chose not to.

00:11:44.000 And the reason they did is they were so screwed up at every previous effort that they decided they would just simply put it all on the working man and woman in this country, our middle class, and say, screw them.

00:11:56.120 We've got to have price stability.

00:11:58.500 And that's where we are now.

00:12:00.080 We've got an impaired puppet president and an impaired, pathetic caricature of a Federal Reserve chairman.

00:12:08.700 One of the key points you made of many key points, but I want the audience to focus on, is this thing of recession and the slowing of the economy.

00:12:18.600 Because remember, this is going to exacerbate the problem.

00:12:21.680 And the Fed is clearly going to have to raise rates.

00:12:23.980 You're going to have to give at least another 25 base points, probably more.

00:12:27.460 As the economy, to get the overhead economy, slow it down, you're going to have lower growth and lower tax revenues.

00:12:35.300 At the tax structure you've got, and you're not going to change that tax structure.

00:12:38.940 It's just not going to happen.

00:12:40.340 You saw this.

00:12:40.980 This is why the donors wanted this conversation away from the general election.

00:12:43.900 And this is not just Republican donors.

00:12:46.380 The people that will fight tax increases the most are the progressive left oligarchs, the barons of Wall Street, the hedge fund managers, the tech oligarchs in Silicon Valley who are super anti-Maga, anti-Trump.

00:13:03.060 Anti-American.

00:13:03.700 Anti-America.

00:13:05.780 You're going to have, and by the way, neo-Marxists in their philosophy, they're all neo-Marxists.

00:13:10.560 Not as far as their ownership of assets.

00:13:14.220 I'm talking about cultural neo-Marxists.

00:13:16.600 As this economy slows, it's going to be less tax revenue.

00:13:19.380 Guess what that's going to mean?

00:13:20.820 Bigger deficits.

00:13:22.500 More deficits made.

00:13:24.600 More borrowing.

00:13:25.560 More juicing up of the Federal Reserve.

00:13:27.620 We are now, and this is the crime of McCarthy, and to kowtow to Jeffries in the White House, in the Schumer, is the Uniparty.

00:13:36.520 We are now essentially institutionalizing or hard, we're now going to be hardwired in, hardwired to the institutional stagflation.

00:13:48.200 This is the beginning of the lost decades of the 1990s with the Japanese. 1.00

00:13:54.780 We're going to follow the exact same model here with low growth, 1 to 1.1%, 1.5%, low growth, condemned to low growth, high inflation, high interest rates, limited opportunities, contraction of banks, balance, creditability, particularly in regional banks, less opportunities for entrepreneurs.

00:14:17.320 We're about to go into the grind.

00:14:19.040 And remember, the Uniparty brought this to you.

00:14:21.280 It used to be the radical Democrats, but hey, with the Uniparty, the 19 senators that joined in with this spending last year, and everybody remembers that, they were all signed up for all these spending bills.

00:14:33.640 Now you've got the House.

00:14:34.700 Now you've got the 149.

00:14:36.000 And all 149 to me, if the audience likes the fact that they took any control away from the audience,

00:14:42.900 if they like the fact that they condemned you to a Japanese model of stagflation, I think for decades, if you like that, then keep supporting them, keep sending money, keep knocking on doors.

00:14:53.320 It's a free country.

00:14:54.200 If you like that, go for it.

00:14:56.380 But now's the time, I think, to hold them accountable.

00:14:59.120 And even guys I admire like Jim Jordan and others ought to be primary.

00:15:02.180 There's no – until they can answer the question why they – and I don't want any happy talk about appropriations and no happy talk about we took $140 billion or $400 billion out of –

00:15:12.900 or $140 million or $40 million out of the CDC and all these shiny ponies they got, shiny toys, answering the question, why did you take the cap off?

00:15:22.840 Why did you make this unlimited?

00:15:24.600 Why is Biden going to spend anything they want?

00:15:26.300 We've got to pay for it.

00:15:27.100 Why did you do that?

00:15:28.380 Why did you lock in all the radical programs with the two-year – so you gave a two-year clean debt ceiling lift.

00:15:33.800 That's what you gave it with no conditions, none.

00:15:36.840 But this is the most absurd thing I've ever seen, and these people are no different than Benedict Arnold at West Point when he was there and betrayed General Washington and the Continental Army.

00:15:49.860 This is that level of betrayal.

00:15:51.860 It is a betrayal, and it is a betrayal of the republic.

00:15:55.400 No one should doubt it.

00:15:56.400 And the 149, I think a lot of people listening to you right now, Steve, are shocked to hear you say what you did about Jim Jordan being among those 149 people.

00:16:08.580 But they made their choice, and they are what they are.

00:16:12.620 And by the way, Jim Jordan, there's very few people I think you hold on higher regard than Jim Jordan, and I'm one of those.

00:16:19.840 Jim Jordan's a good man.

00:16:21.060 Jim Jordan's got a lot of good things.

00:16:22.280 But, however, this was a defining moment.

00:16:25.620 You know, Lou Dobbs just said in his history of doing this over decades, he's never seen a more catastrophic vote.

00:16:32.080 That means something.

00:16:33.580 I'm in the same regard.

00:16:34.720 I think it's the most important vote we've seen in decades, and certainly the most important vote in this 118th Congress.

00:16:40.960 There will be nothing else close to it because it's locked in years in the future.

00:16:44.600 And quite frankly, not only taking a great tool out of the toolbox, the tool out of the toolbox of President Trump when we start the general election next May, but even more importantly, has shackled him in 2025.

00:16:57.040 I'm running some numbers with Russ Vought and the team of the week, and we'll share with you, Lou, and your audience of The Great America Show.

00:17:03.540 But we're running some models of what is 2025 going to look like from today with this deal?

00:17:09.580 What's it going to look like?

00:17:10.500 Donald Trump's going to come in and not have the runway.

00:17:13.480 Even as bad as the Obama years were, we had a different balance sheet, right?

00:17:18.080 We had more ability to maneuver.

00:17:21.080 That maneuvering ability of President Trump is going to restrict him.

00:17:23.660 That's the great crime here.

00:17:24.800 They've locked us in institutionally.

00:17:26.660 And Jim Jordan was the very first guy on the call Sunday night, started to pimp his day.

00:17:30.680 He says, well, the spending less this year is next.

00:17:33.500 That's a good deal.

00:17:34.440 And he went on Fox and he pimped this thing out.

00:17:36.760 And for pimping that out, as good a man as he is, people need to challenge these people.

00:17:41.560 Here's what they need to do.

00:17:42.600 They need to get them on a stage in the debate and make them defend this vote.

00:17:47.200 Make them defend this vote.

00:17:49.020 They have to.

00:17:50.240 This is the way that we change the Republican Party.

00:17:52.360 But, you know, you and I both know that that debate will never occur because all they were

00:17:59.800 doing, the 149 and the committee chairman among them, all they were doing was cheerleading.

00:18:06.260 They don't have a position and they don't have a reasoned argument for it.

00:18:12.560 We're going to take up, Steve, if we may, after we take this quick break, we're going to take

00:18:17.080 up oligarchs.

00:18:18.360 And we're going to be talking about a fellow named Brother Ma and why he is so popular

00:18:24.120 in communist China.

00:18:26.000 We'll be right back with the great Steve Bannon.

00:18:28.440 Stay with us.

00:18:34.880 We're back now with Steve Bannon.

00:18:37.240 We're going to talk, if we may now, Steve, about I'm still licking my wounds.

00:18:41.480 I'm I'm oh, believe me, I'm ready to fight.

00:18:43.520 I'm I'm I'm about ready to explode.

00:18:48.660 You were born.

00:18:49.220 You were born fighting.

00:18:50.380 You were born fighting.

00:18:51.740 I know you're ready for you.

00:18:53.340 You like to like fighting for fighting.

00:18:54.940 I mean, now we got it.

00:18:55.860 Now we got a purpose.

00:18:57.320 We got a purpose.

00:18:58.300 And I tell you what, we better stay shoulder to shoulder because we haven't got a heck of

00:19:01.840 a lot of company in the in the swamp and in the public arena.

00:19:07.140 But let's turn to Brother Ma, Iowa, a 16 course dinner for Elon Musk in Beijing with the CCP

00:19:18.360 and Xi Jinping.

00:19:20.880 That's pretty heavy stuff for for an American entrepreneur.

00:19:26.120 He's not a poor country boy is the world's richest man or second richest now.

00:19:31.160 But that was quite a feat.

00:19:33.800 What did he do to deserve that?

00:19:36.300 He deserved it because he's an asset of the Chinese Communist Party and his wealth is

00:19:40.880 all driven by the CCP.

00:19:43.080 He's also he's only American by, you know, he's actually a foreigner.

00:19:47.760 It's just like it's just like Soros is just like Murdoch.

00:19:50.380 And people say, well, you can't pick up.

00:19:52.040 Look, all of us came from other countries.

00:19:54.620 Right.

00:19:54.920 My family came as immigrants, Irish immigrants and German immigrants later.

00:19:59.520 OK, and I understand that.

00:20:00.980 But my family came here as most families come here of immigrants to support the values of

00:20:07.360 this country, to fight for this country, to serve this country on on on foreign battlefields

00:20:14.200 and even a domestic battlefield.

00:20:16.120 I had a great, great my great grandfather's brother died at Dahlgren's Raid with the second

00:20:22.120 with the first main cavalry in the Civil War.

00:20:24.000 We had many other veterans throughout our history.

00:20:27.560 We're here to serve this country.

00:20:29.100 We're here to support this country.

00:20:31.160 That's not Murdoch.

00:20:32.320 That's not that's not Soros.

00:20:35.020 That's not Elon Musk.

00:20:36.040 Elon Musk, the 16 course meal.

00:20:37.880 They only give that not just the heads of states, as you know, Lucas, nobody's covered

00:20:41.620 China better than you. 1.00

00:20:42.880 They only give that to send a signal that this guy is the inside baseball, the inside

00:20:47.820 baseball.

00:20:48.300 He's a he's an old friend, as they say in China.

00:20:51.200 And that means just like Henry Kissinger, he's a fellow traveler.

00:20:54.500 Elon Musk is a danger to this country.

00:20:56.740 I said this when I said this on Tim Pool a couple of weeks ago, Elon Musk specifically

00:21:01.740 took my clip.

00:21:02.500 When I called him out for being fully financed by the Chinese Communist Party, he tweeted

00:21:07.180 out that the clip where I said that he said, I used to think Steve Bannon was very so was

00:21:12.880 smart and evil.

00:21:14.320 Now I just think he's evil.

00:21:16.000 Well, Elon, I can't tell you whether you call it evil or smart or dumb as a stick.

00:21:20.880 I know that you're an asset of the Chinese Communist Party and your trip over there this

00:21:25.660 week proved it.

00:21:26.760 It's disgraceful.

00:21:28.520 And I think he needs to be fully investigated now to make sure that from a national security

00:21:33.820 point of view, I think this guy's a danger to the country.

00:21:36.800 I understand there's tons of Conservative Inc fanboys.

00:21:39.120 All these Conservative Inc fanboys that have the maturity of 11-year-olds and think that

00:21:44.500 Elon Musk is Tony Stark, he gets all the cool checks and he's got all the cool toys and

00:21:49.440 he's worth, you know, the second richest guy in the world.

00:21:51.540 He's the second richest guy in the world because he basically is a partner to the Hitlers of 0.96

00:21:57.600 the 21st century.

00:21:58.960 And that's the criminal junta that is the overlords of Lao Beijing, of the Chinese people in Beijing. 0.89

00:22:05.720 And he is their partner.

00:22:06.920 And they've enriched him.

00:22:08.120 You may get another tweet from Alana.

00:22:13.260 Good for you.

00:22:15.100 And I have to say to you, and Alana, if you're listening, there's no way I can escape my friendship

00:22:21.920 from Steve Bannon and our common philosophy here.

00:22:26.000 This is worth investigating.

00:22:28.720 And people need to understand something that's happening here.

00:22:31.600 He's financed, certainly, by the CCP, no question about it, and will be more so after he returns

00:22:38.720 from his trip to Beijing.

00:22:41.380 We'll learn further what transpired there.

00:22:44.820 But he's financed in terms of the SpaceX project by the American taxpayer.

00:22:50.640 He is financed in Tesla with tax credits by the taxpayer, not the largesse of Joe Biden's solely.

00:23:00.540 We do get to provide a little money into that enterprise.

00:23:05.020 So there is a question here about what is modern capitalism.

00:23:10.060 And there is no question.

00:23:11.220 Elon Musk is a genius.

00:23:12.600 Anybody who can land a rocket booster on its tail is a genius, in my opinion.

00:23:19.100 And I don't care what part of that.

00:23:21.160 Let me jump in here.

00:23:21.840 You're absolutely correct.

00:23:23.140 As an engineer, he may be the Edison or the Tesla of this century.

00:23:27.160 Of that, I'm not an expert enough to know, but what I've seen is very impressive.

00:23:32.440 But your first point is, remember, I know Elon Musk.

00:23:35.680 Why did I know Elon Musk?

00:23:36.760 He was stopping by my office every other day from the White House when my office was working

00:23:41.180 next to President Trump looking for handouts.

00:23:44.220 And I just told him, I said, Elon, the American taxpayer is not going to continue.

00:23:49.600 We're not going to underwrite your Tesla thing here.

00:23:52.080 We're not going to underwrite all these ventures.

00:23:53.700 I said, it's quite simple.

00:23:55.360 I know what you're doing.

00:23:56.400 You want the taxpayer to basically underwrite huge portions of this.

00:24:00.220 They don't get any of the upside.

00:24:01.680 They don't have a warrant package.

00:24:03.000 They don't have a package of options.

00:24:04.260 They don't own any stock.

00:24:05.600 I said, you can do this.

00:24:07.220 There's plenty of cash out there for your deals.

00:24:09.300 You don't need this.

00:24:10.500 You need this cash because you need higher returns.

00:24:13.300 You take the dumb money from the taxpayer and then the smart money of the venture capitalist,

00:24:17.740 which has to be less because the taxpayers put up a bunch of it, and your returns are higher.

00:24:22.580 And returns for management are higher.

00:24:24.100 This is how you get to be the richest guy in the world.

00:24:26.160 Well, that ain't how it's going to work in the Trump White House.

00:24:29.160 We're not giving you any more.

00:24:30.740 And this is – he and I had a couple of just blunt conversations.

00:24:34.600 I said, the gravy train is over.

00:24:36.980 The working stiff in this country is not going to underwrite Tony Stark.

00:24:41.480 Get no place of the ups, right?

00:24:43.920 And you go there with your venture capital.

00:24:45.820 You have to put in less money.

00:24:47.080 Management gets less dilution, right?

00:24:49.300 And you keep all the upside.

00:24:51.520 It doesn't work that way.

00:24:52.320 It's not going to work that way in Trump's America.

00:24:54.440 And I think that that's what he – people have to understand.

00:24:57.580 His wealth has either come from – his big part of his wealth is obviously with the Tesla joint venture with the Chinese.

00:25:03.560 That's where he's going to make the battery over there, all that.

00:25:05.680 That's where he's over there, kowtow to them.

00:25:07.420 But substantially, all the companies here are underwritten by American taxpayers.

00:25:12.700 All of these – people should understand.

00:25:14.760 They don't need taxpayer money.

00:25:16.400 They want taxpayer money because it makes the returns higher because they have to put less cash in.

00:25:21.000 But there's plenty of capital for Elon Musk's venture.

00:25:24.600 And like you said, any guy can land that, can raise plenty of money.

00:25:27.680 But it comes as a price.

00:25:28.880 And it means Elon Musk gets a lower return personally.

00:25:31.700 That's why he's always got his kinked up out. 0.99

00:25:33.580 And that's called – as you know, Lou, because you have followed this for 40 years on your show.

00:25:37.180 That's crony capitalism, and that's where we are now.

00:25:39.980 We're basically in state – we have a – our system is very much like the Chinese.

00:25:45.000 It's a state capitalism with a highly concentrated government in business with certain select megacorporations.

00:25:52.740 That's moderate capitalism, not free market capitalism that you've advocated on your show for decades and decades and decades.

00:25:58.580 I call it crony – it's sea capitalism.

00:26:03.200 It's crony capitalism.

00:26:04.940 It's circular capitalism.

00:26:06.820 And it is cyclical.

00:26:09.220 And if you look at the swirl of capital, there's another C word flying from this superpower, this economic superpower,

00:26:18.600 straight into the coffers of the communist Chinese.

00:26:22.720 It's stunning.

00:26:24.340 This is a model that has been created but not investigated.

00:26:27.660 It has been constituted but, again, not investigated, that is driving U.S. investor capital into the heart of its greatest enemy,

00:26:40.620 and that is the communist Chinese.

00:26:44.140 It is stunning to think what we are witnessing.

00:26:48.320 And there isn't a hearing on Capitol Hill.

00:26:50.720 Not one hearing has been held.

00:26:53.220 Think about the things that we don't – and I'd like to go into this with you, Steve, for me.

00:26:57.660 Sure.

00:26:59.020 You're hitting a very important point, I believe, and that is why doesn't the public demand to know more?

00:27:05.720 We know why the national corporatist media doesn't want to report,

00:27:10.440 but we don't quite understand why the public doesn't demand that their representatives, their senators,

00:27:16.840 actually hold hearings on important things like, what the hell?

00:27:21.080 What the hell really happened in the pandemic?

00:27:23.980 Who was right?

00:27:24.880 Who was wrong?

00:27:25.620 And what are we doing to prepare for the next?

00:27:28.120 Why don't we talk about transgender, LGBTQ issues?

00:27:34.580 Have hearings.

00:27:35.400 Why is this suddenly such an important discussion point?

00:27:39.360 What is the difference between each of these coalition groups that have different genders,

00:27:48.120 different pronouns, and are having quite a time of it in the national media?

00:27:53.760 Why don't we know what's really going on?

00:27:55.940 And why don't we know something about why public education?

00:28:00.000 Children are being told, don't tell your parents, but you're going to be mutilated by a surgeon of our choice.

00:28:07.020 I mean, it's really getting down to that.

00:28:09.580 And there are no hearings.

00:28:11.120 Doesn't this amaze you, even in this pseudo-democracy that we live in right now?

00:28:19.240 You could forgive about them getting organized on oversight and judiciary and the weaponization committee,

00:28:28.980 and there's a subcommittee looking at the Wuhan lab and COVID.

00:28:33.220 But you could justify maybe the slow start.

00:28:37.560 First of all, the Democrats wouldn't be like this.

00:28:39.300 They are like assassins.

00:28:41.160 They would be all over this to be hearings, to be front page in New York Times, Wall Street Journal every day.

00:28:45.640 Here, maybe you can argue for the disorganization as long as they got the debt ceiling and the financial part right.

00:28:52.080 Understand they betrayed you on that.

00:28:53.480 There's no excuse for the rest of this.

00:28:54.740 I totally agree with you that it is unacceptable that we're now in the month of June.

00:29:02.180 We're six months into this, and we haven't made more traction than we have.

00:29:06.940 And part of this is they won't staff up.

00:29:09.220 I mean, the Democrats don't care how much money they spend on this because it's a pittance in the grand scheme of things.

00:29:16.160 These things ought to be staffed up immediate.

00:29:18.180 The weaponization, and quite frankly, I think Jim Jordan is just too burdened.

00:29:21.940 He's doing so much on judiciary, he ought to spend weaponization off to someone else.

00:29:25.740 We need bigger staffs.

00:29:26.920 We need organized staffs.

00:29:28.760 And on every issue you just said, from this radical transgender ideology all the way down to the Wuhan lab, they ought to be on point. 0.99

00:29:37.760 Since you gave the country away economically, they need to be on point now on this.

00:29:42.520 And it's quite shocking that we're in June, and essentially nothing's happened.

00:29:46.320 I mean, today they're going over to enforce a subpoena against Chris Wray on the whistleblower.

00:29:53.860 Basically, they've got all the information you need on the Biden crime family.

00:29:59.400 They won't turn over.

00:30:00.240 The Praetorian Guard won't turn over.

00:30:02.060 Well, I've just got one question here.

00:30:04.080 If they're going over to serve that subpoena, how about they – I mean, they should really ask the FBI to disarm itself first so it's an even match.

00:30:13.540 Because they're not going to follow the law.

00:30:16.260 This is going to be some kind of – this will have to be settled by arm wrestling or something. 0.98

00:30:22.160 Because the law – we know where the law in this country, the Department of Justice in particular, will land.

00:30:28.220 We're going to take that up with Steve Bannon, the great Steve Bannon, when we return.

00:30:33.720 Stay with us.

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00:31:58.280 We're back with Steve Bannon, Steve Bannon's War Room.

00:32:02.480 I want to compliment you on what you have created there.

00:32:05.760 It's just extraordinary, and it's just essential, essential watching.

00:32:12.200 I had a pretty good mentor, Lou Dobbs.

00:32:16.880 As you know, I've been a huge fan of yours for many, many decades, as the president has.

00:32:20.820 And I think the president would join me in saying, hey, a lot that we weren't – and I went to Harvard Business School.

00:32:26.740 A lot – and he went to Wharton.

00:32:28.720 And I think we both say this.

00:32:29.800 A lot of what we understand about international finance and how trade deficits, all of that, and the importance of that to the economy,

00:32:38.320 really the backbone of the populist nationalist economic thing we learned because Lou Dobbs was talking about this back in the 1980s

00:32:45.120 when he was warning us of what was going to happen with our manufacturing base.

00:32:50.040 So – and that's – Lou, it – and I think that's why the War Room is growing so much because people want this information,

00:32:56.900 particularly the fact of, as you know, we're not going to be able to unwind this disaster we just had in this budget debt ceiling.

00:33:05.140 Back when you first started, you know, when you talk about Volcker and you talk about Reagan,

00:33:09.700 you talk about the amazing things that they got us out of the stagflation of the really Lyndon Johnson, Richard Nixon to a degree,

00:33:15.780 Jimmy Carter, that era, Volcker and Reagan, not one of the only heroes and men of courage that could step in the breach

00:33:22.880 and didn't care what people said, but as importantly, they had tools we don't have today.

00:33:27.240 They had a balance sheet that was relatively clear.

00:33:30.100 They had a Federal Reserve that had nothing on it.

00:33:32.440 They had very little national debt, like I said, a clear balance sheet.

00:33:35.860 We were also a manufacturer.

00:33:37.080 Still at that time, we were a manufacturing superpower.

00:33:39.040 And with the dollar where it was, you know, a currency that was not being devalued and crushed every second of every day.

00:33:48.120 So it was – and the country was a different country where, you know, much – more education by a broader range of people,

00:33:55.460 more literacy, better in numbers, better in reading comprehension, better workforce.

00:34:00.560 There's just no comparison to the oligarchy we've become today, but that's what's going to limit.

00:34:06.520 That's why I am so fearful in 2025 with the return of President Trump.

00:34:11.360 He's going to be shackled by what they have done here.

00:34:14.140 But as importantly, the economic sins of these globalists over many decades will be coming home to roost,

00:34:22.260 and he'll have very little room to maneuver.

00:34:24.720 It's going to be – Trump can turn it around, but man, is it going to be a heavy lift.

00:34:29.480 It's going to be a very heavy lift, and I think people have got to get – they've got to understand what's really going on here.

00:34:35.660 They really do.

00:34:36.740 And I want to get – I don't want to dwell on this, but I do want to get your assessment.

00:34:42.900 My complaint is this, that we have a Congress that isn't interested in the public's right to know.

00:34:49.580 It's better than it was because of the Brave 20 and the Freedom Foundation who had the guts to challenge McCarthy

00:34:56.200 and to bargain for some decentralization, greater power for committee chairman, et cetera.

00:35:02.460 But the fact of the matter is, why aren't the major issues being explored?

00:35:09.040 We're not having our academia.

00:35:12.480 In this country, our universities and colleges have taken positions.

00:35:16.320 They don't have intellectual discussions or a search for empirical evidence that would guide them one way or another about what works, doesn't work.

00:35:26.480 I mean, I don't think I'm too different from anyone else in the country when I say I don't know what all the transsexual gender assignment stuff – 1.00

00:35:36.860 I don't know where it came from.

00:35:38.140 How did it suddenly explode?

00:35:39.760 I don't understand why LGBTQ isn't thrilled to be where they are in our society with equal rights

00:35:49.740 and why they are insisting on demanding so much of the majority and of the power structure.

00:35:57.120 And the middle class and working men and women are being relegated to second class citizens in the media.

00:36:04.080 No one cares what happens to the middle class, working men and women, 150 million workers in this country who are being basically just run over,

00:36:16.580 whether it's through the inflation of the Biden administration, whether it is the elitism of the national media,

00:36:23.520 whether it is the indifference and essential exploitation in this country of working men and women

00:36:30.200 who have had wages that have been basically stagnant for three decades.

00:36:34.900 Our middle class has not done well at all.

00:36:38.240 Our CEOs, as you were talking about earlier, I mean, they're not only making 400 times what their average corporate employee makes,

00:36:45.680 they're making 800 times.

00:36:47.520 It would take workers I don't know how many lifetimes to match one year's pay by their CEO and to what in.

00:36:56.440 But there is no discussion of this politically.

00:36:58.700 There is no discussion of it within the architecture of our government.

00:37:03.480 We have no answers.

00:37:04.660 We have no answers to what happens when you have a fully corrupt federal government.

00:37:10.600 The most important agencies amongst them outside of defense, absolutely corrupt and weaponized against the American people.

00:37:18.660 Those working people, those middle class, those small businessmen,

00:37:23.220 they're roadkill in the new utopia of the Biden regime.

00:37:28.700 Your thoughts?

00:37:30.200 Look, I think that the model works for the oligarch that we have in this country, an oligarchy.

00:37:37.220 And the oligarchs control the apparatus, the uniparty apparatus.

00:37:40.600 The business model works for them.

00:37:43.460 And that's why the corporate media, which is very tied to their advertising, and their regulatory approval, is not going to change.

00:37:52.240 They're going to cover it exactly what they cover, which is to put shiny toys out there and treat you like an idiot.

00:37:56.280 And that's why I think the growth in your show and in the war room is because people thirst for an alternative.

00:38:03.420 They thirst for something they feel they can get a grip on, something that they can think through and look at the world and say,

00:38:09.360 yeah, I'm starting to get information, and this will give me context.

00:38:13.120 This will give me a framework of how to look at things.

00:38:15.620 And I think that's why these shows are growing leaps and bounds, and we'll do even more in the future.

00:38:20.000 I think people are thirsting for that.

00:38:21.080 It's now to turn that into, and that's why the war room's audience is mainly activists, that people are engaged.

00:38:28.420 And whether at the precinct level, whether they're taking over a school board, whether running for office, we have tons of activists.

00:38:36.180 And the reason is they want a place that gives them actionable information, and that's what we try to do, and I know you try to do.

00:38:43.480 Lou, I know you may be running out of time.

00:38:45.320 The reason I came on today of all days, I wanted to come on anyway, but I wanted to ask Lou Dobbs to come.

00:38:51.100 I had to do this.

00:38:52.740 Lou, you've been doing this a long time, brother, and you know Wall Street as well as anybody.

00:38:56.700 When I saw Bill Ackman yesterday, the destructive hedge fund guy, put out a long Twitter thread about Jamie Dimon, Jamie Dimon running for president, and that he should come and serve his country.

00:39:13.520 And then Jamie Dimon, the front of the Financial Times today, is a recording of a private meeting with Jamie Dimon and other people in a conference where it's a lead story in the Financial Times.

00:39:25.060 He's saying that tensions, that tensions between Washington and Beijing are causing an upset to the world order and that it must stop.

00:39:35.780 Your thoughts, Lou Dobbs, of Jamie Dimon as a potential, given that you were one of the first guys to back the President Trump and saw the potential of President Trump, and people should know that I talked to Lou Dobbs many, many years ago before President Trump about actually running for president of the United States because I thought Lou would be a magnificent president.

00:39:55.540 Given your knowledge of that, given your support of President Trump, your MAGA roots, your understanding of populism, your being an economic nationalist, could you give the audience, the Great America Show audience, your thoughts on Jamie Dimon as a potential president of these United States?

00:40:13.480 Well, I have followed Jamie Dimon.

00:40:43.460 The idea that Jamie Dimon would be president, I think you've sort of hinted at.

00:40:49.040 Jamie Dimon is a, by the way, he's a Baker's scholar.

00:40:53.940 You should be impressed with that out of Harvard.

00:40:56.960 I miss being a Baker's scholar if you play one class because I was too busy playing golf, but that's a huge power.

00:41:03.040 He's a smart guy.

00:41:03.820 He's a tough guy.

00:41:04.400 He's a tough guy, smart guy, all of the above.

00:41:07.580 And by the way, he also apparently discussed Jeffrey Epstein's accounts at J.P. Morgan, Joe Staley saying that he did.

00:41:19.560 That's inconvenient coming amidst that sudden and I'm sure spontaneous burst of publicity that he received for his ambitions to rule the world.

00:41:32.140 Are you implying also that being Sandy Wiles, and Sandy Wiles was a tough hombre, that being his hatchet man, which Jamie Dimon was for decades, that being Sandy Wiles' hatchet man does not prepare you?

00:41:47.680 It's not a good preparation to be president of the United States of America?

00:41:51.040 A lot of more authoritarian countries would probably appreciate his skills, but I don't think they would particularly be useful.

00:41:59.760 Well, they may be at the rate we're going.

00:42:02.920 Here's, I guess, where I come down with oligarchs and politics.

00:42:06.700 And you and I may disagree on this.

00:42:09.180 We've got to rein in corporate America right now.

00:42:12.620 They've got to get in their lane.

00:42:14.120 They've got to get back to business.

00:42:15.720 They have got to take the chamber of commerce.

00:42:17.940 I mean, I don't know what you do with that thing.

00:42:19.660 It is a monster.

00:42:20.940 It's running Congress.

00:42:21.920 You know that.

00:42:23.640 It approved.

00:42:24.620 Remember, Chamber of Commerce came out.

00:42:26.680 I had Tim Burchard on last night from Tennessee.

00:42:28.900 Chamber of Commerce came out and recommended a yes on the vote yesterday.

00:42:33.160 The Chamber of Commerce said yes, because they want the sugar high.

00:42:36.940 They want the easy money.

00:42:38.180 Of course.

00:42:38.520 They like the easy money.

00:42:40.360 And just like, you know, your friend Brother Ma, as the Chinese now call Elon Musk, he wants easy money.

00:42:47.200 I guess all of us would accept easy money.

00:42:50.580 But this is at a cost to the republic.

00:42:54.340 When we have oligarchs now, and what's really funny to me, and it truly is laughable, is to start watching all of these billionaires who've decided, and I'm going to exempt one billionaire, and that is Donald Trump, from what I'm saying.

00:43:07.760 These billionaires have decided to cut out the middleman.

00:43:11.440 I mean, Donald Trump set the standard for billionaires.

00:43:15.400 Just go directly to the presidency.

00:43:17.940 I mean, why should Jamie Dimon?

00:43:20.180 A billionaire himself, that seems to be the credential to get into the race.

00:43:25.540 Putting one of these people who has made a mess of this economy, contributed to it, as they have the overwhelming political power they already enjoy, the consolidation of banking, for example, as you well know.

00:43:41.280 We have now, what is it, 6,000 fewer banks than we did in the mid-80s.

00:43:46.680 It's concentrated.

00:43:48.220 I love the fact the FDIC, the Federal Reserve, everybody complaining as the bank's signature and SVB and Republic were going down.

00:43:58.480 They didn't want Chase originally to take any of those assets to come in and save the day because they would get bigger.

00:44:07.120 So what did they do?

00:44:08.740 Well, they let Chase at the end because they couldn't find anybody strong enough to stand up to all of the vulnerability.

00:44:16.680 And the sell-off.

00:44:18.600 And the fact is, Chase grew bigger.

00:44:21.120 They now control 13% of the insured deposits in the United States of America.

00:44:28.280 Teddy Roosevelt right now would be slapping all of us upside the head.

00:44:32.480 What in the world have we done to America?

00:44:36.280 We have turned it into a weak form of European business.

00:44:43.100 It is the stasis that has set in to corporate America.

00:44:48.380 Where is the innovation?

00:44:50.060 Where is the ability to say we are a bigger and better and more powerful and more democratic place in 2023 than we were in 1975?

00:45:03.860 It isn't true.

00:45:05.600 It is not true.

00:45:06.740 And where is that peace dividend that we were supposed to be able to cash when the Soviet Union went down in flames?

00:45:15.700 We have lived a nightmare in terms of leadership and in terms of what we have done with our wealth.

00:45:23.460 And, by the way, including what we have done to the middle class in this country, which is to serve them and those who aspire to that middle class horribly.

00:45:33.520 And we've got to fix that.

00:45:35.160 And do I have an actionable way to get it done right now?

00:45:38.980 No.

00:45:39.520 And I don't believe anyone else does.

00:45:41.060 And that's why we've got to get the conversation started in the public arena.

00:45:44.100 I think we start, Lou, with throw the bums out. 1.00

00:45:48.720 Amen, brother.

00:45:51.900 And you know what?

00:45:53.780 I've got 140 names on a list.

00:45:58.400 Got a place to start.

00:46:00.800 Yes, sir.

00:46:01.880 Steve, you're great.

00:46:03.080 We thank you for being with us.

00:46:04.520 We always give our guests the last word.

00:46:07.580 Your concluding thoughts, if you will.

00:46:09.780 My concluding thoughts is thanks.

00:46:11.580 I'm really glad to be on the Lou Dobbs Great American Show on such a historic day.

00:46:16.360 Now, over to the Senate, Lou.

00:46:18.140 We get a little performance art.

00:46:19.620 We get a little performance art by Chuck Schumer and Mitch McConnell.

00:46:23.660 A little performance art.

00:46:25.380 And we'll have to take this through the weekend and see how this plays out.

00:46:28.700 But really honored to be on here on such a historic day, sir.

00:46:32.700 And I hope this is the day that they bring the motion to vacate.

00:46:38.100 Don't you?

00:46:38.680 I would like to.

00:46:42.020 Obviously, he's got to go.

00:46:43.800 It's just when do you have the when do you have when is the best time they can go to force him out?

00:46:49.080 Because clearly you can't have some you can't continue to exist.

00:46:52.220 The coalition government we had with the MAGA and with the 20 and with others can't exist when Hakeem Jeffries is the majority leader.

00:47:00.320 That's not what people voted for.

00:47:02.000 And it's got to end.

00:47:03.520 And we got it for you at the best time.

00:47:04.760 We thank you very much, Steve.

00:47:07.100 Good to see you.

00:47:07.680 And that is it for us today.

00:47:10.400 Thanks for being with us, everybody.

00:47:12.400 Our guest here tomorrow will be former Trump presidential advisor Peter Navarro.

00:47:16.900 Please join us.

00:47:17.900 Until then, thanks.

00:47:19.320 God bless you.

00:47:20.460 And may God bless America.

00:47:22.240 We'll be back.

00:47:23.120 We'll see you then.

00:47:23.580 We'll be back.

00:47:26.680 We'll be back.

00:47:37.960 We'll be back.

The Great America Show - June 05, 2023

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