April 11, 2025 • 48 mins
THE WAR ROOM WITH STEPHEN K. BANNON, APRIL 11TH, 2025
GUESTS:
DAVE BRAT
JILLIAN BARBERIE
See omnystudio.com/listener for privacy information.
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
And I am Sephanie rule, And I don't care if
you need one, but I am definitely taking a deep
breath right now. I suspect you need one too. It
is day eighty one of the second Trump administration, and
we've got a lot of money power politics to talk about.
Speaker 2 (00:15):
Look for historical parallel, and it's really really hard. The
closest thing you can come to would be wartime perhaps
perhaps you know, getting into a war we didn't need
to get into.
Speaker 3 (00:23):
We could say Vietnam, we could say Iraq.
Speaker 2 (00:25):
But outside of that, outside of a national security wartime
kind of thing, I can't think of a president who
has done more to undercut his own, you know, presidency
so early, so dramatically, and affects so many other lies.
Speaker 4 (00:40):
Right.
Speaker 5 (00:40):
A lot of presidents make mistakes in.
Speaker 2 (00:41):
Their early days, although not usually in their second term.
They nominate somebody who gets in trouble. There may be
a scandal, something they forgot to tell us, or they
didn't want to tell us. But I can't think of
anybody who has done more to sort of so worldwide uncertainty,
you know, drain out literally millions of dollars worth of
market cap for all these companies essentially retirement savings for
(01:05):
many Americans, not to mention the uncertainty in Washington, where
tens of thousands people have subtenly been told or out
of a job and services are no longer going to
be provided that they had come to depend on, and
foreigny to places that are suffering from disease and hunger.
So much has happened in just eleven weeks. There is
no parallel, I think, in American history.
Speaker 3 (01:27):
Here's what I want to say.
Speaker 1 (01:29):
It has been over a week since this trade disaster began,
and I have spent that week speaking to investors here
and abroad, and what I feel most tonight is scared.
Scared that what we are facing is a crisis of confidence,
confidence in US, the United States of America.
Speaker 6 (01:49):
And what I have not heard from any.
Speaker 1 (01:51):
Of the people that I speak to is exactly what
might restore that confidence in the United States, at least
not right now. Yes, the market yesterday, but that is
only because we avoided the fifty plus percent tariffs across
the globe. But the reality has set in today because
we still have the rest of these tariffs, and the
(02:11):
markets continue to sink, both the bond and stock market
in part because the basis by which we're negotiating trade is.
Speaker 4 (02:20):
Not rooted in truth.
Speaker 1 (02:22):
And for those who believe countries are scrambling to make
a deal because they were so panicked about the enormous
tariffs and now they're much lower, my question is, what
is that deal? What do you think the likes of
Vietnam can do to erase our trade deficit? You know
what the answer is, they can't. And if you want
to onshore all of our manufacturing, that's if you want
(02:43):
to do that what Peter Navarro talked about, what Howard
letting It talked about, you want to do that, It'll
take trillions of dollars and twenty years to reconfigure the
global supply chain and bring it all home. And for
our allies in the West, those developed countries certainly not
rushing to partner back up with US, not with a
(03:04):
US president who goes on national TV laughing saying they're
all kissing my ass. It is safe to say that
the perch we and are American exceptionalism sat on even
a few months ago, has certainly been lowered. We've got
an agriculture secretary who tells us build a chicken coop
(03:25):
in your backyard because eggs are expensive. We have a
defense secretary sharing military secrets in a group chat. We
are potentially lawlessly firing thousands of federal workers and defunding
science while we buy crypto. We have lost an enormous
amount of credibility and trust. But what scares me is
(03:47):
that every investor I speak to, even some who support
this president, has given me the same message. If the
bond market continues to drop and drop and drop, you.
Speaker 5 (04:00):
Know where it goes.
Speaker 1 (04:01):
It bankrupts the country, something Donald Trump knows a lot about.
Speaker 7 (04:08):
Let me just say, ninety deals in ninety days, biggest
broadest tax cut in American history, should be driving the tape.
That's what's going to be a bullish market. And if
you're not long, you're going to get left behind. Now, China,
let's talk a little bit about China. The President has
said several times.
Speaker 5 (04:27):
Now that he would love to hear from.
Speaker 7 (04:30):
China to talk about where we're at.
Speaker 5 (04:32):
And here's where we're at, Maria.
Speaker 7 (04:34):
From our perspective, China has killed over a million Americans
with deadly fentanyl and related drugs, and it simply refuses
to do anything about that. Many of these people are
prime age workers. So they not only kill Americans, they're
killing our workforce at the same time, as you know, Maria,
(04:57):
and we talk a lot about this. Since two thousand one,
China has destroyed over sixty thousand American factories and stolen
over five million manufacturing jobs.
Speaker 5 (05:08):
And that's the state of play.
Speaker 7 (05:09):
So all we're asking for is fairness.
Speaker 5 (05:12):
So what's going to be the response.
Speaker 8 (05:15):
If we've still got the antibodies to defend ourselves as
a democracy, if our civil society is still working, if
our legal profession is still on the job. What we
ought to see here in response to this, in response
to what will be not just these two guys being targeted,
It'll be a dozen, it'll be one hundred, it'll be
a thousand of these.
Speaker 6 (05:34):
If Trump likes how this one goes, and.
Speaker 8 (05:36):
He hasn't stopped from doing it, what we ought to
see here, if our democracy is still kicking, what we
ought to see here is a battalion of the highest
end lawyers in the country flooding in to provide Chris
Krebs and Miles Taylor with free legal representation and with
the kind of no holds barred, super aggressive legal fight
(05:57):
that Judge Ludig.
Speaker 5 (05:58):
Is describing today.
Speaker 4 (06:01):
Are we going to see it.
Speaker 8 (06:04):
As the biggest, posious, most powerful law firms in the
country even tonight, continue to suck up to Trump and
promise to do him favors in exchange for him no
longer criticizing them or threatening them. Do we still have
the juice as a country? Are we still kicking legal profession?
You're still there? Are all the pretty words America's most
(06:27):
prominent lawyers are famous for about the rule of law
and no fear of favor? Are all those just pretty words?
Speaker 5 (06:34):
Are we going to see them show up? Because time's up.
Speaker 8 (06:38):
It is now everything you were supposedly preparing for it's here.
Speaker 5 (06:45):
This is the primal scream of a dying regime.
Speaker 9 (06:50):
Pray for our enemies because we're going to medieval on
these people. You've not got a free shot or all
these networks lying about the people.
Speaker 5 (07:00):
The people have pattib belly full of it. I know
you don't like hearing that. I know you've tried to
do everything in the world to stop that, but you're
not going to stop it. It's going to happen.
Speaker 6 (07:07):
And where do people like that go to share the
big line? Mega media.
Speaker 8 (07:12):
I wish in my soul, I wish that any of
these people had a conscience.
Speaker 9 (07:17):
Ask yourself, what is my task and what is my purpose?
Speaker 10 (07:21):
If that answer is to save my country, this country
will be saved.
Speaker 6 (07:27):
War Room View's your host, Stephen K.
Speaker 4 (07:30):
Bath.
Speaker 9 (07:36):
It's Friday, eleven April year Earler twenty twenty five. Of course,
a total meltdown. He heard by Peter Baker in the
New York Times. As President Trump reorganizes the global world
order around in America first and American citizens first. And
this is what you're seeing that President Trump is doing
it both geoeconomically and geostrategically, and they.
Speaker 5 (07:57):
Don't like it.
Speaker 9 (07:59):
They don't like it at all. He's also engaged the country,
and something we need to engage with. The Chinese Commists
Party has been at war with the United States economically,
cyber war, economic war, political warfare, psychological warfare. It's called
unrestricted warfare. It's their doctrine. They're proud of it. Why
(08:22):
because after the Gulf War in the early nineties, they
came to the conclusion they can't fight foreign devils mono
amano with modern technology because foreign devils are too far
ahead of them.
Speaker 5 (08:33):
We would be the foreign devils.
Speaker 9 (08:34):
By the way, the foreign devils in the West were
too far ahead of them on military technology, so they
would do everything else unrestricted warfare to bring down the West.
And they've been added for twenty twenty five years, but
particularly since May of twenty nineteen. Take your number two
parens of Latin write down May of twenty nineteen. That
is the most important geopolitical month in the twenty first
(08:59):
century until President Trump came to office. And what you've
seen in the first was it eighty days or so.
It's something that is absolute extraordinary. And Peter Baker is
doing his job. Peter Baker is the lead White House
correspondent for the New York Times, the paper of record,
or the Globalist.
Speaker 5 (09:15):
And of course they're not happy.
Speaker 9 (09:18):
They're not happy at all because President Trump is reorganizing
this around the putting the country's interests first, not the
globalist institutions and the globalist elite's interests first. And he's
putting American citizens first, not the globalist first. And they
don't like it because nobody's ever done that. Even President Reagan,
(09:38):
as the greatest president Reagan was, he had a different
set of issues at the time President Trump came back
after having the election stone for him in twenty twenty
and began a journey, a journey that you've been on.
You are his hoplights, right, You are the trench warfare
(09:59):
advocate and trench warfare activist. They're the tip of the
spear in the MAGA movement. You know, people come to
me all day long behind the scenes, Hey, we need
the war and posse focus on this. We got this confirmation,
we need this, we need this, we need this. Why
you get people's attention. You think we got five Supreme
Court wins in a row until last night without putting
(10:23):
pressure on people, you'd be incorrect.
Speaker 5 (10:24):
You absolutely did.
Speaker 9 (10:25):
And the one last night is inserting, you know, the
courts inserting themselves between President Trump being commander in chief
and doing his duties commander in chief. And so you
see where the judiciary is coming out on some of this.
And it's going to be a fight. Every one of
these verticals is going to be a fight. Every time,
every part of the institution they're pushing back on.
Speaker 5 (10:47):
Is going to be a fight. But lo and behold,
on and behold.
Speaker 9 (10:51):
We had a print this morning on the Producer Price
Index Dave Brad's going to join me in a moment.
Uh And it was a incredibly low print. So inflation
is being tamed by President Trump. Commodity prices are coming
down because of President Trump.
Speaker 5 (11:06):
Now there are issues, I don't say they're not issues.
Speaker 9 (11:09):
Reorganizing the American the world trading system around America first
and bringing five million manufacturing jobs back was they all
say it can't be done. You don't want to build,
you don't want to make T shirts in North Carolina.
Manufacturing is coming back to the United States. This is
the central economic issue and foundational element of President Trump's
(11:34):
American economy. We're just not going to be service industries
because you can't. Here's why you can't.
Speaker 5 (11:40):
This is the model we have is not sustainable.
Speaker 9 (11:43):
The reason I believe a big reason for the bond
market for people being questioning is this reconciliation we passed
yesterday with very few details about it other than the
fact that we're not going to really cut spending, the
one point seven, the one point tree, and that the
House that wouldn't even include it any language in the
(12:03):
Senate's kind of tap dance around of people are tap
dancing around is over ten years. It shows you we're
not serious about cutting spending and cutting spending. As we
said from I'm gonna pick a random date, February of
twenty twenty one, when we this show nailed it more
than any other business show, any other show on politics.
(12:23):
This at the time, the Biden stimulus program was going
to cause massive inflation and massive inflation and stagflation. And
it did both. And the only reason the model continues
to work. Their model continues work with massive Keynesian infusion
of stimulus two treeion dollars a year in deficits. It's
(12:47):
not sustainable. Their model is not sustainable. President Trump's model
is sustainable. Why do you think the Chinese Communist Party
is up in arms and trying.
Speaker 5 (12:56):
To defeat it? If it was if it was so.
Speaker 9 (13:02):
Detrimental to the United States, it was so beneficial to
the rest of the world, why would they be fighting it.
They've gotten a free ride. We underwrite all of their security.
It's the reason your defense bills are trillion dollars. We're
being played for suckers. You're underwriting the security and you
don't have a pension, you don't have a four to
(13:24):
one K. You got a little bit of a tip
money for Social Security that you put money in, you
get a thousand bucks a month back, and you get
some medicare. You don't have any early retirement. Five million
manufacturing jobs have gone. Nine million Americans are working at.
Speaker 5 (13:39):
Least two jobs today.
Speaker 9 (13:42):
Sixty percent of Americans can't put their hands on one
thousand dollars in cash in case of an emergency. The
elites have made paupers of the American people. And President
Trump is saying that we've had enough of this.
Speaker 5 (13:55):
The American people.
Speaker 9 (13:56):
Have stood on their feet in every crisis in the
world to do more to free more people in the
world and create more wealth for everyone in the world.
Speaker 5 (14:05):
And guess what the times now to take.
Speaker 9 (14:08):
Care of the American people and the folks that have
created this system, that have benefited to the system, that
have exploited and taken your wealth that you created. Of
course they don't like it. Of course they're going to
sit there every day and say how awfully is, how
terrible Trump is, and how awfu of this MAGA movement is.
(14:29):
We don't care what they have to say. Peter Navarro
is correct, ninety deals in ninety days and engage now
in the main event, as Captain Fanel says, keep the
main thing. The main thing, that is a confrontation economically
politically on cyber hopefully not militarily, but if it has
(14:53):
to come to that, so be it.
Speaker 5 (14:55):
With the Chinese Communist.
Speaker 11 (14:56):
Party producer price index, the more whosts sales side of
the inflation equation, and they're big numbers, down four tenths
on headline, down four tenths. That would be equal to
where we were in October of twenty three.
Speaker 4 (15:14):
And if we find a lower number, you're going all.
Speaker 11 (15:16):
The way back to April of twenty twenty in the
COVID affected era, and that.
Speaker 4 (15:21):
Was down one point two percent.
Speaker 11 (15:22):
Now, let's strip out food and energy down one tenth
of a percent.
Speaker 4 (15:27):
That equals where we were in February. It equals where
we were in July.
Speaker 11 (15:31):
To find a lower number, you're in April of twenty
twenty minus three tenths. If we look at ex food,
energy and trade, it is up one tenth, also much
less than we were expecting. Up one tenth equals where
we were in November of last year. To find a bigger,
smaller negative number, you're minus eight tens and April of
(15:52):
twenty twenty.
Speaker 4 (15:53):
Now let's look at.
Speaker 11 (15:55):
Year over year final demand two point seven, well below
our expectations of three point three, well below three point
two in the rearview mirror. To find the lower number,
you're in September of last year. September of last year,
So we see that this metric had been moving up.
Now it's moving back down. If we look at X
(16:15):
food and energy from a year over year perspective, three
point three less than three point four in the rearview mirror,
less than three point six expected, that equals September of
last year. To find a lower number year in August
of last year.
Speaker 4 (16:28):
At two point eight, and drumroll, please.
Speaker 11 (16:31):
The last metric of this PPI data series here over
your ex food X energy, X trade three point four,
the only metric higher than we're expecting by one ten,
higher than the rearview mirror by one ten. Three point
four equals where we were in January. To find a
higher number here in Dce of last year at three
point five. Late revisions coming in on headline. Last month's
(16:54):
zero on the final demand headline now moves to a
positive one tenth and it's now minus four tenths.
Speaker 4 (17:00):
That means the net change a half a percent lower.
Speaker 11 (17:03):
And on the x food energy month of a month,
minus one ten becomes positive one ten, So the net
changes down two tents because the current number is down
one ten. Maybe the biggest thing that should.
Speaker 4 (17:14):
Jump out at anybody.
Speaker 11 (17:16):
Is that last week a two year note, you'll close
get this at three sixty six, it's a three eighty
three a ten.
Speaker 4 (17:23):
You're closed at four percent. Last week it's.
Speaker 11 (17:26):
At four forty two of forty two basis points. Think
about the ramification where at sixty on the two tent spread.
Now everybody's arizon fire for all the uncertainty. I understand
it here and all the guests say this the biggest
move they've ever seen in treasuries and whatever.
Speaker 4 (17:41):
Well, that's because we.
Speaker 11 (17:42):
Had thin markets in very thin hours where we had extremes.
Then the market comes into our own time zone. You
populate that with much more training. Here's the only thing
that I look at. I'd like to keep it simple, folks,
and let's keep the emotions down. The high yield closed
for the year in two's hope that was at four
thirty eight on the thirteenth of January, so that we
(18:05):
can see has a flight to quality, flight to safety
feature built in, maybe a FED component built in.
Speaker 4 (18:12):
Now, let's go up the curve.
Speaker 11 (18:14):
On the fourteenth of January, a tenure closed it four
seventy nine, A thirty year closed at for ninety eight.
Those closing meals are above where we're at now.
Speaker 4 (18:24):
So if the world is so.
Speaker 11 (18:25):
Bad and treasuries are expressing everything's on fire, why can't
we get a higher yield close.
Speaker 4 (18:30):
On the year firstus where we were in January? Those
are numbers we should pay attention to.
Speaker 9 (18:37):
Of course, Ricks Santelle once again, the great Rick Santelle
counters ninety percent.
Speaker 5 (18:43):
Of the hair on fire that you see.
Speaker 9 (18:45):
Although the bond market gets a vote here and gets
a big vote, and they're going to get a huge
vote on us running these massive deficits. A day Bret economist,
the economist, Day Brett, not the moral philosopher Day Brett.
Pretty impressive numbers coming out of what President True's doing
in his team.
Speaker 5 (19:01):
Sir, you wouldn't You wouldn't know that by watching the business.
Speaker 9 (19:04):
All they say it is that expectation, you know, people's
inflation expectations at the University of Michigan survey, they're just
they're they're they're they're they're.
Speaker 5 (19:12):
Banging anything to trash Trump.
Speaker 9 (19:14):
They will pick any number of possible paths to trash
Trump except the big meaningful numbers.
Speaker 5 (19:19):
What do you what do you got for it? How
do you interpret this, sir?
Speaker 6 (19:23):
Yeah?
Speaker 10 (19:23):
Well, the first thing is I just love Santelli. You
can just tell the guy is a truth detector right
the way he talks. He just spits it out. You
can't lie that fast. The mainstream media is very clever
in their language, right, They're very good at lying.
Speaker 6 (19:36):
They're sophisticated.
Speaker 10 (19:38):
I read CNN on the PPI and the market's anticipating
some stuff, but they can't anticipate other stuff due to Trump.
But bottom line, yeah, that the the the PPI has
gone down right, three two to two seven annually, and
that's about weather for retail prices and the CPI, uh,
the consumer pricing inflation.
Speaker 6 (19:59):
So so the PPI is on the producer side. But
it's good news.
Speaker 10 (20:03):
And in there you saw food prices are going down,
oil prices are going down, energy prices going down. All
great news. And yet when you look at the mainstream media,
all you see I was on a show this morning
and they put up these huge, massive price increases. Those
are expected, likely written by the lords of easy money
(20:25):
Wall Street crew.
Speaker 6 (20:27):
In order to drive a narrative.
Speaker 10 (20:28):
Those are not actual real data that are coming out
on prices. There's no evidence of prices going up due
to Trump's trade war, nothing yet.
Speaker 4 (20:36):
Right.
Speaker 10 (20:37):
It's like my favorite guy, Bob Gordon on Technology and AI.
He says, don't you see technology everywhere? Bob? And he says,
along with another nobel guy, Yeah, I see technology everywhere,
just not in the data, right, And.
Speaker 5 (20:48):
So yeah, hang on, hang on. I want to say
one thing.
Speaker 9 (20:53):
I don't want to give the name of the show,
but you were on You're on Conservative talk radio. Conservative
Talk Radio is sitting there there on fire. They're running around,
they're running around, actually pitching the running dogs of Wall
Street's pitch against President Trump's America First economic policies to.
Speaker 5 (21:10):
Bring jobs back here.
Speaker 9 (21:11):
And my only point is, Yo, you were the folks
that kind of stood around and cheered while all this happened.
Speaker 5 (21:16):
Hey, this thing, it didn't get gutted in the darken night.
It got gutted in broad daylight, with.
Speaker 9 (21:22):
Everybody sitting there and quite frankly, the Republican Party cheering
this is.
Speaker 5 (21:26):
Why on Capitol Hill you've got these people.
Speaker 9 (21:29):
Behind the scenes all hate Trump and all hate Trump's
economic policies. That's why they're sitting there every day. You
got to see the Palace intrigue stories. Peter Navarro's out
and Scott Bessett. Hey, nobody knows Novara and best and
better than me. Right, they're two good friends, their colleagues.
Scott's been on the show for a couple of years,
really got it, got his start in talking to media,
(21:53):
right because he was a guy who's a totally private guy.
Speaker 5 (21:55):
Got to start talking on media here on the war room,
which is what we try to do.
Speaker 9 (21:59):
It get people reps and get comfortable and you ask
them questions and they got to answer on the spot.
Peter Novarro, you know, was a guy we brought in
Jared found, but I had known from his writings Jared found,
you know, back almost.
Speaker 5 (22:11):
A decade ago.
Speaker 9 (22:12):
Peter Navar is very, very involved in making these deals.
And Peter Navarro, I tell people, Peter Navarro is a
reflection of President Trump's natural instincts of.
Speaker 5 (22:22):
How to bring jobs back here and bring manufacturing jobs.
Speaker 9 (22:25):
And Trump's not backing off that anybody thinks he's backing
off and Wall Street convinces themselves that's why they fled
the zone, Dave, as you know, and you're on the
show today, and these are good guys, but they just
spout the nonsense that comes out of Wall Street and
comes out of the globals. Remember, the Wall Street crowd
wants no borders, they want no control of labor. You
(22:48):
saw the other day when Elon said, oh, yeah, what
you know, he's telling the European crowd, he's talking to Slovenian.
Speaker 5 (22:52):
Yeah, what we want is really a.
Speaker 9 (22:54):
Zero trade pack with Europe, a trade pack with your
zero tariffs. And what we one is you guys have
absolutely free uh you know, ability to come into the
United States and take jobs.
Speaker 5 (23:05):
No, that's exactly not what we want. That's kind of
the opposite of what we want. Uh. And President Trump's
going to enforce this.
Speaker 9 (23:11):
President Trump is focused on bringing manufacturing jobs back. And
you can tell by the data you see today because
they're hammering all these shows inflations I control, I go,
what are you talking about, P, P, I and C.
Speaker 5 (23:23):
You know, the wholesale prices.
Speaker 9 (23:24):
Are coming down in the in the in the retail
prices are coming down and every and you're right. You
look at these shows and every charts going through the roof,
I go, what are they? What are they looking at?
Who do they who do they have? Dave Brett your thoughts? Yeah, well,
I the Cold Open. Lately they've just been outstanding. The
shows over the past couple of weeks have just been outstanding.
Speaker 10 (23:47):
But the one of the talking heads is screaming about
a crisis in confidence. Uh, and a crisis in confidence
with respect to the truth, yes, from the mainstream media.
Speaker 4 (23:57):
Uh.
Speaker 10 (23:57):
And these Wall Street folks. And when I you know,
I speak in general when I'm pinging billionaires, I'm talking
about the Magnificent seven. There's billionaires in the manufacturing sector
who are great patriots.
Speaker 6 (24:09):
So it's kind of like, you know, China and the CCP.
But these guys that.
Speaker 10 (24:13):
This truth issue is serious, and the Wall Street Journal
and these folks, they're losing their credibility by the second.
Then Rachel Maddow comes in with a violin crying again
and oh.
Speaker 6 (24:23):
What were you big law firms?
Speaker 10 (24:26):
Don't you care about any of these you know, beautiful
words called the rule of law and all these beautiful
things you learn in law school. Rachel you got to
be kidding coming from the left. Once you get rid
of God, the truth is right there with it. Right,
there goes the truth, and there go all your beautiful words.
So if you want to reconstruct the beautiful words, Rachel,
(24:48):
let's get back at it. And you know, I think
it was Dusty Yusky or something like that he said,
you know, on once God has gone, everything is permissible, right,
And so I'd recommend that to Rachel. And then maybe Krekerguard,
build your faith and fear and trembling. That might help
out the left a little as well.
Speaker 5 (25:07):
I knew, I knew, I knew I was going to
have you on here to be the economists today, and
you were going to go more fully. You're going to
talk Kirkerguard.
Speaker 9 (25:13):
We got Dave bred down, hang on, no, what she
what she's talking about? And we'll play that club. I
wanted to tee the audience up. What she's talking about
is Mike Davis is going to come on. There's an
amazing piece in Politico. Yes I did say that. It's
an amazing piece in Politico, and it's about Trump and
the institutions and how the institutions are. You know, President
(25:34):
Trump is confronting these American institutions built by Americans over many,
many decades that have turned on the American people and
really represent globalist interest. And from the law firms to
the universities. I've got a whole other punch list. We
got to expand there like the banks, and President Trump's
taking them on and they're cratering. And Rachel Matdow, like
(25:55):
her or not like her, she is ahead of the curve.
She she sees where this is going. And she puts
out basically a cry for help as yesterday President Trump
of the day before, so I had that executive order
he signed on crabs in the voting machines, and tulci
Garbrett came at the same time. It says, hey, over
d and I I think we've got some evidence there
is messing with voting machines that'll shake them all up.
Speaker 5 (26:18):
And I say that as a guy that people know.
Speaker 9 (26:20):
I'm not a machine guy here, I'm a mail in
ballot and how they stole it. However, those machines, there's
something up on something I've always been suspicious.
Speaker 5 (26:28):
It looks like that whole narrative is about to change.
Speaker 9 (26:30):
And Rachel Maddow is pleading on her show to have
the cavalry come and save them from Trump.
Speaker 5 (26:38):
Okay, we got more economics.
Speaker 9 (26:39):
It's one of the reasons the bond market, I think
is kind of dicey right now. And Gold's at thirty
two hundred, yes you heard that thirty in fact, thirty
two to fifty. The reason is, we'll explain it in
a moment with Dave Bread from Liberty University.
Speaker 5 (27:00):
Hugh's your host, Stephen K.
Speaker 2 (27:02):
Bath.
Speaker 5 (27:05):
Biden would have Biden would have killed for these numbers.
Biden would have killed for these numbers.
Speaker 9 (27:09):
And it sure as your President Trump's economic plan is
starting to unfold, his economic plan is going to cause turbulence.
This is why we told you we're going to go
through turbulence. And we've been talking for years about the
end of the dollar empire.
Speaker 5 (27:21):
And you know we.
Speaker 9 (27:22):
Conceive this with the guys at Birch Goals at thirty
two to fifty. Let me repeat that, goals at thirty
two to fifty. Number one, people are looking for a hedge.
Central banks are looking for a hedge. It's time now
for you to get as knowledgeable as the central banks.
And you can do it by watching the War Room
and also going to get all the free information we
(27:43):
put on Birch Gold. This is why we do it,
and this is why we make it free. We want
to make sure we school, we learn you up, We
get you up the learning curve. Why because if you're
up the learning curve, you're a much more powerful actor
on this stage of global politics. And supporting President Trump,
you're just not repeating memes all the time. You actually say, Hey,
I can think this through. I see exactly what's going on. Listen,
(28:06):
We're going to have a good old throwdown on this
reconciliation bill. I can tell you that's coming. Who tells
me coming? I think part of this bond market revolt
is due to that, And the bond market is going
to get a vote on this. Why is the bond
market going to get a vote on this, Dave Brad
can tell you, because we have to finance refinance I
(28:28):
don't know, ten trellion dollars of government securities every year.
Speaker 5 (28:31):
Scott Beston's got to do this.
Speaker 9 (28:33):
The reason everybody got all worked up the other day
is because the bond market kind of froze in the morning,
and Scott had to make sure he did. You know,
they had a treasury auction of ten years and went fine.
It was oversubscribed. But Ray Dalyo has told you, as
much as I'm not a fan of Ray Dalio is
about China, he told you you have a failed treasury
auction in the future that could trigger some bad things.
Speaker 5 (28:55):
And here's the reason. We got thirty seven train in debt.
Speaker 9 (28:58):
And it's adding all the time, and that reconciler Bill,
I think, is only going to add to it.
Speaker 5 (29:03):
We're gonna get to that here in a moment.
Speaker 9 (29:04):
The real crisis, I think, which is in the strictly
linked to this war with the Chinese Companist Party. But
President Trump, the reason they're hating on him, the reason
Jamie Diamond, all these guys going on TV and hating
on him. The New York Post has got a gaspering,
has got the scoop Dave Bratt. President Trump is what
I've been a big advocate do. Let's get to the
(29:25):
banks now, let's get to the hedge funds. You've done
the you've got the law firms, you've got the universities,
although we haven't gone to the state ivys, which I
still say you have to do. But it's time now
to get to the banks. And what is President Trump?
The New York Post gasprin has got a big scoop.
President Trump's going to do what to the banks, And
they're not liking it at all. These money center banks,
they are living like fat cats. They bought the investment banks.
(29:48):
They're skimming everything off the top.
Speaker 5 (29:50):
What they don't want to do.
Speaker 9 (29:51):
Dave, is actually lend money to American entrepreneurs and small businesses.
Speaker 5 (29:56):
They hate that, right, because that's magat. Tell me what
President Trump's going to do, sir.
Speaker 10 (30:02):
Yeah, Well, what Trump's going to do is in start
contrast to Biden, who basically left these big banks. Right,
all goes back to Glass Stiegel and some legislation in
the nineties which let these giant banks who have you know,
massive balance sheets, allowed them to do what the small
banks can't do, and then they got profitable with all
(30:23):
the hedge funds and all that.
Speaker 6 (30:24):
Now Trump is saying, hey, no, you got this in reverse.
Speaker 10 (30:27):
You guys got the big balance sheets and the small
banks you may not like them, they may not be.
Speaker 6 (30:32):
As profitable you know, per unit or whatever. Tough luck.
Speaker 10 (30:35):
We give you certain legal status and whatever in law,
and you're going to start loaning out to the small
guy again, and so the big banks are going to recoil, right,
and I think they Charlie roughly said, if you just
want to go to be Hedgemunt, then just go be
Goldman Sachs. But in essence, Trump is just one step
after the other. And the mainstream media and all the
(30:56):
cronies in the press cannot get this story straight because
they don't want to see it. Trump is helping a
small guy in every single story we're doing.
Speaker 6 (31:03):
That's what he's doing systematically.
Speaker 5 (31:08):
No, this is what they hate. You know.
Speaker 9 (31:10):
One of the one of the folks in the engine
room that's always on top of things, said, hey, you
can tell him the you can tell in the open
that they're going down swinging, that the globalists are going
on swimming and they're cornered like a rabbit animal. Now
it's just personally attack on Trump. Personally attack on Trump.
It's only going to get worse. Everything he's reorienting is
to put America first. And it's not America only. It's
(31:33):
America first, and American citizens first. People miss sometimes the
second part of that. It's to put American citizens first.
The little guy, they're forgotten man, and woman that would
be you, that the whole burden rest on your shoulders.
You're the one that pays for everything. You're the one
that does everything. You're the one that volunteers or everything.
It's your sons and daughters or yourself back in your
(31:55):
early days that volunteered as a patriot to defend this nation,
to defend the Republic all over Hell's half acre, right. So,
and you guys, it's for decades and decades and decades.
It would just reached the point it can't continue. It
can't continue. Something's got to stop. That's why Trump ran
for president. Trump ran for president that I'm bringing jobs back.
(32:17):
These trade deals everybody's ripping us off, and you've had
a mass migration. Now, this is why yesterday and the show,
and I did some work last night before I gave
a talk last night to a group before I did
some work on this thing about getting an investigation going
of you know, how did they organize ten million people
to invade our border and now it's going cost us
a one hundred and seventy billion dollars to get it off.
Speaker 5 (32:40):
I want to go back.
Speaker 9 (32:41):
To that, this Reconciliation bill. One of the reasons and
the bond market is going to have a vote on this.
We're pretty good at predicting the future, or you know,
just it ain't that hard. Just look down the critical
path and you see what's got to happen. Write this
down with your number two princal. Bond market gets a vote. Okay,
is going to get a vote when everything's exposed, because
(33:03):
it's all got to be exposed. And we get into
this reconciliation and we got to stop the fantasy thinking.
It's not fantasy football. This is reality and there's some
fantasy going on. I want to start with and Brett,
I'll toss it to you for this article that's quite
frankly amazing because it just lays it out. I think
when they talk about one point five trellion dollars in
(33:23):
cuts you trading here being babang babung, that's over a
ten year period. I keep saying it because there is
a regulation that when they roll these things.
Speaker 5 (33:31):
Out, they got to talk in ten years.
Speaker 9 (33:33):
Part of that is to give them cover so they
don't have to make tough calls today and they can
just kick the can down the road and they sit
there and when McCarthy did it, people would call me
and go, how could you possibly oppose this? There's so
many conservative wins in here. I go, give me a win,
name one. They go with this program, this program, I go,
it doesn't kick in for years.
Speaker 5 (33:53):
What kicks in is he uncapped.
Speaker 9 (33:56):
He took the lid off the dead ceiling and kicked
it two years down the road. You gave him additional
year that Biden didn't even want to take it out
of the national election.
Speaker 5 (34:04):
You kicked it down. And what did Biden do? Ran up?
I don't know, six seven, eight trillion dollars. This is
what happened.
Speaker 9 (34:10):
And now that's all money spent and then go into
capital equipment or plant. It went into operating expense, and
now you're left stuck paying for the bill and it
gets harder and harder. Inflation is and now embedded because
Scott Besson's got to go out and raise you know,
ten trillion dollars a year of government securities. Dave Brett,
talk to me about the phoniness of these budget cuts.
Speaker 10 (34:33):
Well, the phoniness is embedded in one story, the group
of Rhino senators who are trying to keep Biden's green stuff.
But let's just get to the headline for the big
numbers in that article, and so they it's from I
think it's from kind of a center left group, maybe
even a Center for Budget control.
Speaker 6 (34:52):
But they're they're right on the numbers.
Speaker 10 (34:53):
Set one point five or one point eight trillion in
cuts over ten years, and that's it if you believe that, right.
Thune was having a hard time saying that in public
over ten years. That's one hundred billion a year whatever, right,
Versus eighty six trillion dollars in spending over ten years.
So one point eight trillion cuts eighty six trillion spending.
(35:17):
One point eight is about two point three percent of
that eighty six trillion.
Speaker 6 (35:22):
So we're talking nothing.
Speaker 10 (35:23):
And I don't even think you get to the one
point eight trillion in cuts.
Speaker 4 (35:27):
Right.
Speaker 10 (35:28):
The best indicator every single year is whatever we're doing
this year, whatever we're spending this year, So we do
another Biden Pelosi budget, that's what you're gonna get for
the next ten years.
Speaker 9 (35:41):
The this is the point over the ten years, repeat
that it's eighty six trillion dollars in spending.
Speaker 5 (35:49):
Is that correct?
Speaker 9 (35:50):
Tay bred eight eighty six trillion dollars they are going
to that's going to essentially be transferred from your pocket
in taxes right your pocket and tax yes, for them
to spend plus two trillion.
Speaker 5 (36:02):
Dollars a year.
Speaker 9 (36:03):
If they have a gap, they'll just sell it. They'll
sell the bonds to foreigners. And what they can't sell,
that we'll just sell to ourselves. Will just essentially print money,
and that deficit builds up, builds up, builds up. And
this is why when they come back and answer for
the death sealing of relief in the Senate bill, it's
lo and behold five trillion dollars. And I think that's
(36:23):
over two years. I still haven't got an answer on that.
I think it's two trillion dollars. It's five trillion dollars
that gets us to pass the midterms, then you've broken
forty three dollars.
Speaker 5 (36:33):
This thing's not going to stop until we make it
stop because the political class is too gutless.
Speaker 9 (36:38):
And let they sit there. They walk in front of
the camera. Mike Johnson walks in front of the camera.
We've had such serious and significant, you know meetings. Remember
they went to Durral about two months ago. They came
out of Durell. The conference came at a Durell their
think tank. They spent three days a draw and they
came up with thirty billion dollars in cuts.
Speaker 5 (36:59):
Thirty dollars and cuts. It's just it's it's it's ends.
It's a it's a joke.
Speaker 10 (37:06):
And and this is without any wars. Right, we have
World War two debt levels now percented GDP with no
wars going on right now. I mean, we wasted a
ton of Ukraine, but now there's serious stuff on the
map going forward.
Speaker 6 (37:19):
Right, So the budget.
Speaker 10 (37:20):
Doesn't include it doesn't include any COVID emergencies, no crises.
So the numbers are going to be way bigger than
the eighty six trade in spending. Right, this is just
status quo, built in government running as usual funding Biden
Green bailout bill.
Speaker 6 (37:35):
And if that thing ends up in there.
Speaker 10 (37:37):
They're going to crush the Republican spirit. This this new
spirit that thinks we're making progress. The Chip Roy and
all these guys are doing great work over there. He's
totally opposed. They got a group of twenty guys against
this thing, so I hope they I hope they put
up a fight.
Speaker 5 (37:54):
Well, they had twenty five votes. I guess, of course.
Speaker 9 (37:56):
President Trump's tax plan is in this too, and Bessett
and President Trump are correct. This is probably our last
shot to get a supply side tax cut where we
incentivize production.
Speaker 5 (38:09):
And that's you know.
Speaker 9 (38:11):
But even President Trump now it's all over. It's been
reported in a dozen different places. And guess what. Tom
Emmer and these guys are not happy about the people
that control by the big donors. He's saying, Hey, the
extension for the tax cuts for our audience, the working
class and middle class and entrepreneurs should go forward. But
for the upper bracket or a new bracket, they creative
(38:31):
people make a million dollars or more. I think we're
gonna have a snapback. I think we're gonna go from
the thirty seven back to the thirty nine, or if
it's millionaires, maybe at forty. There's all kind of talk
of what would happen, but it'd be the first time
that the wealthy got taxed with the Democrats didn't do.
Don't listen to Bernie Sanders and AOC and all this
happy talk. They had control in twenty one. They had
(38:52):
controlled the House. They had Schumer, they had Pelosi, they
had Biden, and they were damned quick to pass spending bills,
massive spending bills, right, incredible fuse traions of dollars into
the system that we didn't need to kick in aggurate
demand that had come back, and we just said, hey,
as you know, Dave Brett, you're the best of this.
Speaker 5 (39:13):
It's too few.
Speaker 9 (39:14):
It's just all you're doing is flooding the zone with
the monetary policy, and you're gonna and you're gonna, you.
Speaker 5 (39:20):
Know, more dollars. You're going to cause inflation.
Speaker 9 (39:22):
In that time, they talked about, oh they're billionaire tax
they're going to do this, and they're going to do this,
and they're going to.
Speaker 5 (39:27):
Tax the wealthy. Democratic Party did nothing.
Speaker 9 (39:30):
Why they're owned lockstock and barrel by the billionaires and
this group of goofballs called the credential class. They have
a bunch of degrees that they can't make a living
off of, and so they got to barrow the money,
and the working class in this country got to pay
for it.
Speaker 5 (39:45):
So this system has to stop.
Speaker 9 (39:47):
President Trump's tax cuts are very very very important. They
are and they will get growth of there's no doubt
about that. Best and it's got a model. They got
growth of it, but the growth is not going to
be great enough to close that gap.
Speaker 5 (39:58):
So somewhere somebody's going to to.
Speaker 9 (40:00):
Be an adult and say, hey, I actually think we
have to cut real spending. We can't be run around doze.
You saw yesterday Elon in the board meeting. I don't
want to say that. Steve Benning said this day was
gonna happen, but all of a sudden, it's not a trillion.
Speaker 5 (40:15):
Dollars, and it's not this year.
Speaker 9 (40:16):
It's one hundred and fifty billion dollars, and it's guess
what it's next year?
Speaker 5 (40:20):
Do you see the look on the cabinet? People will go, what,
hang on, where's my trade? And buck, where's my trillion dollars?
Speaker 9 (40:26):
The question I have for the guys over at O
and B, well, hang on, if it's one hundred and
fifty bion dollars a fraud and he gave some examples
that fraud has to be.
Speaker 5 (40:34):
Now, where's the cuts this year? Guys?
Speaker 9 (40:38):
This is why they had twenty five or thirty brave
patriots prepared to stop this. And just because you got
to get the movement, the process going, they said, okay.
Speaker 5 (40:49):
Well for right now, you know, holding.
Speaker 9 (40:51):
Reserve and kick the process off a lot more. We're
going to break all this down. Mike Davis is also
going to join us.
Speaker 5 (40:56):
Stick around, use your host Stephen k Back.
Speaker 9 (41:05):
He's trying to change the world order to make sure
that the American citizen comes first on everything, to deal
with the United States or American that America comes first.
There's massive resistance to this. Of course, there's massive resistance.
We've allowed a globalist system to develop over the last
forty or fifty years in which they've accreated all the
value to themselves. We get walking through the math, but
(41:27):
you don't need to just look around. You can tell
that that the middle class in this country, even people
with good paying jobs, you get laid off in a
tight job market ninety days.
Speaker 5 (41:37):
You're not doing good. You're not sleeping at night, you're worrying.
Speaker 9 (41:41):
That's the President Trump's trying to try to break that
system and bring back the high value added manufacturing jobs
here and to recreate what we have to war. And
people say that's just Nostalgia's not going to happen. Says,
who is it? Some second law thermodynamics is there's some
natural property in the universe that caused us.
Speaker 5 (41:59):
No, it didn't, No, it did not, Just like.
Speaker 9 (42:02):
The southern the situation of the southern border. As ben'sman
worked in last night. This thing was all architected by
human beings. I can see how the system evolved and
what they did to maximize you guys defending them, You
guys underwriting with your taxes and your retirements to pay
for it all, and that you and your children provide
(42:23):
the defense for it. Guess what that's stopping. That's ending
and they hate it. They love the free ride. Of course,
they love the free ride. Brat's gonna stick with me
for the next hour, and we're going to bring to
Mike Davis, the Viceroy, because the Politico has got this
story about the institutions, and I think it's fantastic. Mike
Davis has got an amazing analysis. He's in the story.
(42:45):
But it's about Boris and Miller and people, the people
over these years from twenty one who thought through, Hey,
how you have to go after the institution. So we've
talked here about this all the time, and I think
it ought to actually go to phase two to expand
to the state public ivys into the banks, into the
hedge funds, into the investment banks. Like they said in Godfather,
(43:09):
Hey let's get them while we're strong. Let's hit them
while we're strong. I think it was Frankie Pantangelo. Remember
all lessons in business coming from the Godfather. Jillian Barbary.
Done with debt?
Speaker 5 (43:20):
This is one of the issues here there.
Speaker 9 (43:22):
I don't know, five percent of credit cards are passed
due people are having to pay, you know, the nine
million people to have two jobs, people using credit cards
to gap to pay for.
Speaker 5 (43:33):
The monthly expenses. And that's where they get ahead of it.
Speaker 9 (43:35):
And the credit card companies are you know, they're a
group without pity. They look at this. This is why you
need a group like done with debt. Walk me through
exactly what the guys.
Speaker 5 (43:45):
Had done with that. If you've got a problem, what
do you do?
Speaker 9 (43:49):
I think what people want to know in the audience
is what do I have to do to find out
how these guys operate? What they're going to do for me?
Before I make any commitments? What are they going to do?
So once you walk us through it, you know.
Speaker 3 (43:59):
It's almost like having your own team of Michael Corleoni's
If you Will, greatest movie ever. They're going to go
in there for you and they are going to just
stand defense. They're going to cut those nasty calls, those
letters that come. Done with Debt is a company that
right now, especially you mentioned the middle class really feeling it.
(44:21):
People that have had jobs, carrying two jobs just to
cover the mortgage. Kids are going off to college. They
are in trouble. Sometimes it's disease. Sometimes it's just life
hits you. And when it does and it can and
it hits you in the pocketbook, you are stuck and
all the bills out up quickly. So what Done with
(44:43):
Debt will do. They will put you on a course
of action that's going to guarantee that your future is
going to be bright again. They're going to get you
on track. How do they do that? Exactly what you're saying.
They know all of the deals with the credit company,
credit card companies, banking institutions, they work with them. Some
people will wipe out your debt entirely for certain you know,
(45:05):
on certain cards, or take pennies on the dollar.
Speaker 9 (45:08):
Uh.
Speaker 3 (45:09):
There are so many things that they can do for
you to stop that immediately overnight, all the nasty calls
and letters and then put you on track. You have
to call them though, or go to Done with Debt
dot com. It's the first step. Because you always mentioned Steeve.
Time is not on your side, it's on the credit
card company side. Because every time thing comes up in
(45:30):
the roster, a little more, a little more money goes
on it for them, for you. Right, So if you
are in this position.
Speaker 9 (45:37):
Right, here's the thing that the interest, the interest continues
to accumulate, so that means the face amounts of accumulate.
These guys may be able to I'm not promising you
got to talk to them, you know, maybe not just
cap the interest payments, maybe even cut the face amount.
Speaker 5 (45:51):
And work at all kinds of restructurings. Here's the thing.
Speaker 9 (45:53):
A lot of people think, well, if I again that
much trouble, I can just go BK and then screw
the credit card.
Speaker 5 (45:58):
It ain't that easy, And that sticks with you for
a while, right.
Speaker 9 (46:01):
It sticks with you if you try to if you
try to get a car loan, you try to sign
an apartment, it's not just buying a house. It sticks
with you. There are other alternatives. My point to this
and the reason I love.
Speaker 5 (46:11):
Done with debt.
Speaker 9 (46:12):
Go to them and see what the alternatives are before
you make any decisions.
Speaker 5 (46:16):
They'll walk you through it.
Speaker 9 (46:17):
But what you can't do under any situation is just
let the letter or the credit card you put it
in the drawer. That cancer is metastasizing. It's not going away.
You have to address it, just like the irs. The anxiety.
I realized people and say well I don't want to
do it. I can you know I'll do I'll pull
a Scarlett O'Hara and I'll deal with it tomorrow.
Speaker 5 (46:36):
You can't deal with it tomorrow. You got to deal
with it today, Jillian.
Speaker 6 (46:39):
That's right.
Speaker 3 (46:40):
And the quicker you do, the faster you're going to
get back on track. And remember the first call, they'll
give you a consultation for free. And I have the
number for you today, Steve. It's eighty eight three two
four ten fifty four three two four ten fifty four
because they will talk to you. The first call is
so incredible because if you do decide to join up
(47:02):
with done with that, you're going to feel it overnight.
It happens automatically that everything stops and your head careers
and you have a team.
Speaker 5 (47:12):
You get that zen moment.
Speaker 9 (47:14):
Uh, Jillian, one more time, website and number. I need
people to make contact today. If you've got a problem
with your credit cards?
Speaker 5 (47:21):
Where do they go?
Speaker 3 (47:22):
Yes, And there's so many out there right now, Middle America.
You being hit.
Speaker 5 (47:25):
I always hit.
Speaker 3 (47:26):
I get it. It is done with debt dot com
on your computer or your phone or call eight eight
eight three two two one zero five four three two
two ten fifty four. There's someone on the other end
of the phone. They are there, they're waiting for you.
They're there to consult you. It's a free consultation. What
have you got to lose? Just check them out. What
have you got to lose other than your debt? So
(47:47):
it's incredible. Thank you so much for having me again, Steve.
I know how busy this time is, so I appreciate you.
Speaker 9 (47:54):
No, Jillian, thank you, Thank you so much. This nothing
could be more timely than this, the situation.
Speaker 5 (48:01):
Thank you, man.
Speaker 9 (48:02):
Appreciate you. Take the anxiety. We need you at the ramparts,
and we don't need you anxious. Right, We need you
at the ramparts and we don't need you anxious. We
need your focus. And you've had massive impact. Brat's sticking around.
We've got a lot more economics to go through.
Speaker 5 (48:18):
In politics.
Speaker 9 (48:20):
Good piece in Plogo day, actually, great piece of political
by President Trump's assault on the institutions, the institutions that
are betrayed, betrayed, working class, in the middle class of
this country, folks. President Trump's taking them on head on,
and the Viceroy is going to join us.
Speaker 5 (48:39):
Update on the Supreme Court
Speaker 9 (48:41):
And update on the assault on the institutions, all next
hour only in the War Room.
And I am Sephanie rule, And I don't care if
you need one, but I am definitely taking a deep
breath right now. I suspect you need one too. It
is day eighty one of the second Trump administration, and
we've got a lot of money power politics to talk about.
Speaker 2 (00:15):
Look for historical parallel, and it's really really hard. The
closest thing you can come to would be wartime perhaps
perhaps you know, getting into a war we didn't need
to get into.
Speaker 3 (00:23):
We could say Vietnam, we could say Iraq.
Speaker 2 (00:25):
But outside of that, outside of a national security wartime
kind of thing, I can't think of a president who
has done more to undercut his own, you know, presidency
so early, so dramatically, and affects so many other lies.
Speaker 4 (00:40):
Right.
Speaker 5 (00:40):
A lot of presidents make mistakes in.
Speaker 2 (00:41):
Their early days, although not usually in their second term.
They nominate somebody who gets in trouble. There may be
a scandal, something they forgot to tell us, or they
didn't want to tell us. But I can't think of
anybody who has done more to sort of so worldwide uncertainty,
you know, drain out literally millions of dollars worth of
market cap for all these companies essentially retirement savings for
(01:05):
many Americans, not to mention the uncertainty in Washington, where
tens of thousands people have subtenly been told or out
of a job and services are no longer going to
be provided that they had come to depend on, and
foreigny to places that are suffering from disease and hunger.
So much has happened in just eleven weeks. There is
no parallel, I think, in American history.
Speaker 3 (01:27):
Here's what I want to say.
Speaker 1 (01:29):
It has been over a week since this trade disaster began,
and I have spent that week speaking to investors here
and abroad, and what I feel most tonight is scared.
Scared that what we are facing is a crisis of confidence,
confidence in US, the United States of America.
Speaker 6 (01:49):
And what I have not heard from any.
Speaker 1 (01:51):
Of the people that I speak to is exactly what
might restore that confidence in the United States, at least
not right now. Yes, the market yesterday, but that is
only because we avoided the fifty plus percent tariffs across
the globe. But the reality has set in today because
we still have the rest of these tariffs, and the
(02:11):
markets continue to sink, both the bond and stock market
in part because the basis by which we're negotiating trade is.
Speaker 4 (02:20):
Not rooted in truth.
Speaker 1 (02:22):
And for those who believe countries are scrambling to make
a deal because they were so panicked about the enormous
tariffs and now they're much lower, my question is, what
is that deal? What do you think the likes of
Vietnam can do to erase our trade deficit? You know
what the answer is, they can't. And if you want
to onshore all of our manufacturing, that's if you want
(02:43):
to do that what Peter Navarro talked about, what Howard
letting It talked about, you want to do that, It'll
take trillions of dollars and twenty years to reconfigure the
global supply chain and bring it all home. And for
our allies in the West, those developed countries certainly not
rushing to partner back up with US, not with a
(03:04):
US president who goes on national TV laughing saying they're
all kissing my ass. It is safe to say that
the perch we and are American exceptionalism sat on even
a few months ago, has certainly been lowered. We've got
an agriculture secretary who tells us build a chicken coop
(03:25):
in your backyard because eggs are expensive. We have a
defense secretary sharing military secrets in a group chat. We
are potentially lawlessly firing thousands of federal workers and defunding
science while we buy crypto. We have lost an enormous
amount of credibility and trust. But what scares me is
(03:47):
that every investor I speak to, even some who support
this president, has given me the same message. If the
bond market continues to drop and drop and drop, you.
Speaker 5 (04:00):
Know where it goes.
Speaker 1 (04:01):
It bankrupts the country, something Donald Trump knows a lot about.
Speaker 7 (04:08):
Let me just say, ninety deals in ninety days, biggest
broadest tax cut in American history, should be driving the tape.
That's what's going to be a bullish market. And if
you're not long, you're going to get left behind. Now, China,
let's talk a little bit about China. The President has
said several times.
Speaker 5 (04:27):
Now that he would love to hear from.
Speaker 7 (04:30):
China to talk about where we're at.
Speaker 5 (04:32):
And here's where we're at, Maria.
Speaker 7 (04:34):
From our perspective, China has killed over a million Americans
with deadly fentanyl and related drugs, and it simply refuses
to do anything about that. Many of these people are
prime age workers. So they not only kill Americans, they're
killing our workforce at the same time, as you know, Maria,
(04:57):
and we talk a lot about this. Since two thousand one,
China has destroyed over sixty thousand American factories and stolen
over five million manufacturing jobs.
Speaker 5 (05:08):
And that's the state of play.
Speaker 7 (05:09):
So all we're asking for is fairness.
Speaker 5 (05:12):
So what's going to be the response.
Speaker 8 (05:15):
If we've still got the antibodies to defend ourselves as
a democracy, if our civil society is still working, if
our legal profession is still on the job. What we
ought to see here in response to this, in response
to what will be not just these two guys being targeted,
It'll be a dozen, it'll be one hundred, it'll be
a thousand of these.
Speaker 6 (05:34):
If Trump likes how this one goes, and.
Speaker 8 (05:36):
He hasn't stopped from doing it, what we ought to
see here, if our democracy is still kicking, what we
ought to see here is a battalion of the highest
end lawyers in the country flooding in to provide Chris
Krebs and Miles Taylor with free legal representation and with
the kind of no holds barred, super aggressive legal fight
(05:57):
that Judge Ludig.
Speaker 5 (05:58):
Is describing today.
Speaker 4 (06:01):
Are we going to see it.
Speaker 8 (06:04):
As the biggest, posious, most powerful law firms in the
country even tonight, continue to suck up to Trump and
promise to do him favors in exchange for him no
longer criticizing them or threatening them. Do we still have
the juice as a country? Are we still kicking legal profession?
You're still there? Are all the pretty words America's most
(06:27):
prominent lawyers are famous for about the rule of law
and no fear of favor? Are all those just pretty words?
Speaker 5 (06:34):
Are we going to see them show up? Because time's up.
Speaker 8 (06:38):
It is now everything you were supposedly preparing for it's here.
Speaker 5 (06:45):
This is the primal scream of a dying regime.
Speaker 9 (06:50):
Pray for our enemies because we're going to medieval on
these people. You've not got a free shot or all
these networks lying about the people.
Speaker 5 (07:00):
The people have pattib belly full of it. I know
you don't like hearing that. I know you've tried to
do everything in the world to stop that, but you're
not going to stop it. It's going to happen.
Speaker 6 (07:07):
And where do people like that go to share the
big line? Mega media.
Speaker 8 (07:12):
I wish in my soul, I wish that any of
these people had a conscience.
Speaker 9 (07:17):
Ask yourself, what is my task and what is my purpose?
Speaker 10 (07:21):
If that answer is to save my country, this country
will be saved.
Speaker 6 (07:27):
War Room View's your host, Stephen K.
Speaker 4 (07:30):
Bath.
Speaker 9 (07:36):
It's Friday, eleven April year Earler twenty twenty five. Of course,
a total meltdown. He heard by Peter Baker in the
New York Times. As President Trump reorganizes the global world
order around in America first and American citizens first. And
this is what you're seeing that President Trump is doing
it both geoeconomically and geostrategically, and they.
Speaker 5 (07:57):
Don't like it.
Speaker 9 (07:59):
They don't like it at all. He's also engaged the country,
and something we need to engage with. The Chinese Commists
Party has been at war with the United States economically,
cyber war, economic war, political warfare, psychological warfare. It's called
unrestricted warfare. It's their doctrine. They're proud of it. Why
(08:22):
because after the Gulf War in the early nineties, they
came to the conclusion they can't fight foreign devils mono
amano with modern technology because foreign devils are too far
ahead of them.
Speaker 5 (08:33):
We would be the foreign devils.
Speaker 9 (08:34):
By the way, the foreign devils in the West were
too far ahead of them on military technology, so they
would do everything else unrestricted warfare to bring down the West.
And they've been added for twenty twenty five years, but
particularly since May of twenty nineteen. Take your number two
parens of Latin write down May of twenty nineteen. That
is the most important geopolitical month in the twenty first
(08:59):
century until President Trump came to office. And what you've
seen in the first was it eighty days or so.
It's something that is absolute extraordinary. And Peter Baker is
doing his job. Peter Baker is the lead White House
correspondent for the New York Times, the paper of record,
or the Globalist.
Speaker 5 (09:15):
And of course they're not happy.
Speaker 9 (09:18):
They're not happy at all because President Trump is reorganizing
this around the putting the country's interests first, not the
globalist institutions and the globalist elite's interests first. And he's
putting American citizens first, not the globalist first. And they
don't like it because nobody's ever done that. Even President Reagan,
(09:38):
as the greatest president Reagan was, he had a different
set of issues at the time President Trump came back
after having the election stone for him in twenty twenty
and began a journey, a journey that you've been on.
You are his hoplights, right, You are the trench warfare
(09:59):
advocate and trench warfare activist. They're the tip of the
spear in the MAGA movement. You know, people come to
me all day long behind the scenes, Hey, we need
the war and posse focus on this. We got this confirmation,
we need this, we need this, we need this. Why
you get people's attention. You think we got five Supreme
Court wins in a row until last night without putting
(10:23):
pressure on people, you'd be incorrect.
Speaker 5 (10:24):
You absolutely did.
Speaker 9 (10:25):
And the one last night is inserting, you know, the
courts inserting themselves between President Trump being commander in chief
and doing his duties commander in chief. And so you
see where the judiciary is coming out on some of this.
And it's going to be a fight. Every one of
these verticals is going to be a fight. Every time,
every part of the institution they're pushing back on.
Speaker 5 (10:47):
Is going to be a fight. But lo and behold,
on and behold.
Speaker 9 (10:51):
We had a print this morning on the Producer Price
Index Dave Brad's going to join me in a moment.
Uh And it was a incredibly low print. So inflation
is being tamed by President Trump. Commodity prices are coming
down because of President Trump.
Speaker 5 (11:06):
Now there are issues, I don't say they're not issues.
Speaker 9 (11:09):
Reorganizing the American the world trading system around America first
and bringing five million manufacturing jobs back was they all
say it can't be done. You don't want to build,
you don't want to make T shirts in North Carolina.
Manufacturing is coming back to the United States. This is
the central economic issue and foundational element of President Trump's
(11:34):
American economy. We're just not going to be service industries
because you can't. Here's why you can't.
Speaker 5 (11:40):
This is the model we have is not sustainable.
Speaker 9 (11:43):
The reason I believe a big reason for the bond
market for people being questioning is this reconciliation we passed
yesterday with very few details about it other than the
fact that we're not going to really cut spending, the
one point seven, the one point tree, and that the
House that wouldn't even include it any language in the
(12:03):
Senate's kind of tap dance around of people are tap
dancing around is over ten years. It shows you we're
not serious about cutting spending and cutting spending. As we
said from I'm gonna pick a random date, February of
twenty twenty one, when we this show nailed it more
than any other business show, any other show on politics.
(12:23):
This at the time, the Biden stimulus program was going
to cause massive inflation and massive inflation and stagflation. And
it did both. And the only reason the model continues
to work. Their model continues work with massive Keynesian infusion
of stimulus two treeion dollars a year in deficits. It's
(12:47):
not sustainable. Their model is not sustainable. President Trump's model
is sustainable. Why do you think the Chinese Communist Party
is up in arms and trying.
Speaker 5 (12:56):
To defeat it? If it was if it was so.
Speaker 9 (13:02):
Detrimental to the United States, it was so beneficial to
the rest of the world, why would they be fighting it.
They've gotten a free ride. We underwrite all of their security.
It's the reason your defense bills are trillion dollars. We're
being played for suckers. You're underwriting the security and you
don't have a pension, you don't have a four to
(13:24):
one K. You got a little bit of a tip
money for Social Security that you put money in, you
get a thousand bucks a month back, and you get
some medicare. You don't have any early retirement. Five million
manufacturing jobs have gone. Nine million Americans are working at.
Speaker 5 (13:39):
Least two jobs today.
Speaker 9 (13:42):
Sixty percent of Americans can't put their hands on one
thousand dollars in cash in case of an emergency. The
elites have made paupers of the American people. And President
Trump is saying that we've had enough of this.
Speaker 5 (13:55):
The American people.
Speaker 9 (13:56):
Have stood on their feet in every crisis in the
world to do more to free more people in the
world and create more wealth for everyone in the world.
Speaker 5 (14:05):
And guess what the times now to take.
Speaker 9 (14:08):
Care of the American people and the folks that have
created this system, that have benefited to the system, that
have exploited and taken your wealth that you created. Of
course they don't like it. Of course they're going to
sit there every day and say how awfully is, how
terrible Trump is, and how awfu of this MAGA movement is.
(14:29):
We don't care what they have to say. Peter Navarro
is correct, ninety deals in ninety days and engage now
in the main event, as Captain Fanel says, keep the
main thing. The main thing, that is a confrontation economically
politically on cyber hopefully not militarily, but if it has
(14:53):
to come to that, so be it.
Speaker 5 (14:55):
With the Chinese Communist.
Speaker 11 (14:56):
Party producer price index, the more whosts sales side of
the inflation equation, and they're big numbers, down four tenths
on headline, down four tenths. That would be equal to
where we were in October of twenty three.
Speaker 4 (15:14):
And if we find a lower number, you're going all.
Speaker 11 (15:16):
The way back to April of twenty twenty in the
COVID affected era, and that.
Speaker 4 (15:21):
Was down one point two percent.
Speaker 11 (15:22):
Now, let's strip out food and energy down one tenth
of a percent.
Speaker 4 (15:27):
That equals where we were in February. It equals where
we were in July.
Speaker 11 (15:31):
To find a lower number, you're in April of twenty
twenty minus three tenths. If we look at ex food,
energy and trade, it is up one tenth, also much
less than we were expecting. Up one tenth equals where
we were in November of last year. To find a bigger,
smaller negative number, you're minus eight tens and April of
(15:52):
twenty twenty.
Speaker 4 (15:53):
Now let's look at.
Speaker 11 (15:55):
Year over year final demand two point seven, well below
our expectations of three point three, well below three point
two in the rearview mirror. To find the lower number,
you're in September of last year. September of last year,
So we see that this metric had been moving up.
Now it's moving back down. If we look at X
(16:15):
food and energy from a year over year perspective, three
point three less than three point four in the rearview mirror,
less than three point six expected, that equals September of
last year. To find a lower number year in August
of last year.
Speaker 4 (16:28):
At two point eight, and drumroll, please.
Speaker 11 (16:31):
The last metric of this PPI data series here over
your ex food X energy, X trade three point four,
the only metric higher than we're expecting by one ten,
higher than the rearview mirror by one ten. Three point
four equals where we were in January. To find a
higher number here in Dce of last year at three
point five. Late revisions coming in on headline. Last month's
(16:54):
zero on the final demand headline now moves to a
positive one tenth and it's now minus four tenths.
Speaker 4 (17:00):
That means the net change a half a percent lower.
Speaker 11 (17:03):
And on the x food energy month of a month,
minus one ten becomes positive one ten, So the net
changes down two tents because the current number is down
one ten. Maybe the biggest thing that should.
Speaker 4 (17:14):
Jump out at anybody.
Speaker 11 (17:16):
Is that last week a two year note, you'll close
get this at three sixty six, it's a three eighty
three a ten.
Speaker 4 (17:23):
You're closed at four percent. Last week it's.
Speaker 11 (17:26):
At four forty two of forty two basis points. Think
about the ramification where at sixty on the two tent spread.
Now everybody's arizon fire for all the uncertainty. I understand
it here and all the guests say this the biggest
move they've ever seen in treasuries and whatever.
Speaker 4 (17:41):
Well, that's because we.
Speaker 11 (17:42):
Had thin markets in very thin hours where we had extremes.
Then the market comes into our own time zone. You
populate that with much more training. Here's the only thing
that I look at. I'd like to keep it simple, folks,
and let's keep the emotions down. The high yield closed
for the year in two's hope that was at four
thirty eight on the thirteenth of January, so that we
(18:05):
can see has a flight to quality, flight to safety
feature built in, maybe a FED component built in.
Speaker 4 (18:12):
Now, let's go up the curve.
Speaker 11 (18:14):
On the fourteenth of January, a tenure closed it four
seventy nine, A thirty year closed at for ninety eight.
Those closing meals are above where we're at now.
Speaker 4 (18:24):
So if the world is so.
Speaker 11 (18:25):
Bad and treasuries are expressing everything's on fire, why can't
we get a higher yield close.
Speaker 4 (18:30):
On the year firstus where we were in January? Those
are numbers we should pay attention to.
Speaker 9 (18:37):
Of course, Ricks Santelle once again, the great Rick Santelle
counters ninety percent.
Speaker 5 (18:43):
Of the hair on fire that you see.
Speaker 9 (18:45):
Although the bond market gets a vote here and gets
a big vote, and they're going to get a huge
vote on us running these massive deficits. A day Bret economist,
the economist, Day Brett, not the moral philosopher Day Brett.
Pretty impressive numbers coming out of what President True's doing
in his team.
Speaker 5 (19:01):
Sir, you wouldn't You wouldn't know that by watching the business.
Speaker 9 (19:04):
All they say it is that expectation, you know, people's
inflation expectations at the University of Michigan survey, they're just
they're they're they're they're they're.
Speaker 5 (19:12):
Banging anything to trash Trump.
Speaker 9 (19:14):
They will pick any number of possible paths to trash
Trump except the big meaningful numbers.
Speaker 5 (19:19):
What do you what do you got for it? How
do you interpret this, sir?
Speaker 6 (19:23):
Yeah?
Speaker 10 (19:23):
Well, the first thing is I just love Santelli. You
can just tell the guy is a truth detector right
the way he talks. He just spits it out. You
can't lie that fast. The mainstream media is very clever
in their language, right, They're very good at lying.
Speaker 6 (19:36):
They're sophisticated.
Speaker 10 (19:38):
I read CNN on the PPI and the market's anticipating
some stuff, but they can't anticipate other stuff due to Trump.
But bottom line, yeah, that the the the PPI has
gone down right, three two to two seven annually, and
that's about weather for retail prices and the CPI, uh,
the consumer pricing inflation.
Speaker 6 (19:59):
So so the PPI is on the producer side. But
it's good news.
Speaker 10 (20:03):
And in there you saw food prices are going down,
oil prices are going down, energy prices going down. All
great news. And yet when you look at the mainstream media,
all you see I was on a show this morning
and they put up these huge, massive price increases. Those
are expected, likely written by the lords of easy money
(20:25):
Wall Street crew.
Speaker 6 (20:27):
In order to drive a narrative.
Speaker 10 (20:28):
Those are not actual real data that are coming out
on prices. There's no evidence of prices going up due
to Trump's trade war, nothing yet.
Speaker 4 (20:36):
Right.
Speaker 10 (20:37):
It's like my favorite guy, Bob Gordon on Technology and AI.
He says, don't you see technology everywhere? Bob? And he says,
along with another nobel guy, Yeah, I see technology everywhere,
just not in the data, right, And.
Speaker 5 (20:48):
So yeah, hang on, hang on. I want to say
one thing.
Speaker 9 (20:53):
I don't want to give the name of the show,
but you were on You're on Conservative talk radio. Conservative
Talk Radio is sitting there there on fire. They're running around,
they're running around, actually pitching the running dogs of Wall
Street's pitch against President Trump's America First economic policies to.
Speaker 5 (21:10):
Bring jobs back here.
Speaker 9 (21:11):
And my only point is, Yo, you were the folks
that kind of stood around and cheered while all this happened.
Speaker 5 (21:16):
Hey, this thing, it didn't get gutted in the darken night.
It got gutted in broad daylight, with.
Speaker 9 (21:22):
Everybody sitting there and quite frankly, the Republican Party cheering
this is.
Speaker 5 (21:26):
Why on Capitol Hill you've got these people.
Speaker 9 (21:29):
Behind the scenes all hate Trump and all hate Trump's
economic policies. That's why they're sitting there every day. You
got to see the Palace intrigue stories. Peter Navarro's out
and Scott Bessett. Hey, nobody knows Novara and best and
better than me. Right, they're two good friends, their colleagues.
Scott's been on the show for a couple of years,
really got it, got his start in talking to media,
(21:53):
right because he was a guy who's a totally private guy.
Speaker 5 (21:55):
Got to start talking on media here on the war room,
which is what we try to do.
Speaker 9 (21:59):
It get people reps and get comfortable and you ask
them questions and they got to answer on the spot.
Peter Novarro, you know, was a guy we brought in
Jared found, but I had known from his writings Jared found,
you know, back almost.
Speaker 5 (22:11):
A decade ago.
Speaker 9 (22:12):
Peter Navar is very, very involved in making these deals.
And Peter Navarro, I tell people, Peter Navarro is a
reflection of President Trump's natural instincts of.
Speaker 5 (22:22):
How to bring jobs back here and bring manufacturing jobs.
Speaker 9 (22:25):
And Trump's not backing off that anybody thinks he's backing
off and Wall Street convinces themselves that's why they fled
the zone, Dave, as you know, and you're on the
show today, and these are good guys, but they just
spout the nonsense that comes out of Wall Street and
comes out of the globals. Remember, the Wall Street crowd
wants no borders, they want no control of labor. You
(22:48):
saw the other day when Elon said, oh, yeah, what
you know, he's telling the European crowd, he's talking to Slovenian.
Speaker 5 (22:52):
Yeah, what we want is really a.
Speaker 9 (22:54):
Zero trade pack with Europe, a trade pack with your
zero tariffs. And what we one is you guys have
absolutely free uh you know, ability to come into the
United States and take jobs.
Speaker 5 (23:05):
No, that's exactly not what we want. That's kind of
the opposite of what we want. Uh. And President Trump's
going to enforce this.
Speaker 9 (23:11):
President Trump is focused on bringing manufacturing jobs back. And
you can tell by the data you see today because
they're hammering all these shows inflations I control, I go,
what are you talking about, P, P, I and C.
Speaker 5 (23:23):
You know, the wholesale prices.
Speaker 9 (23:24):
Are coming down in the in the in the retail
prices are coming down and every and you're right. You
look at these shows and every charts going through the roof,
I go, what are they? What are they looking at?
Who do they who do they have? Dave Brett your thoughts? Yeah, well,
I the Cold Open. Lately they've just been outstanding. The
shows over the past couple of weeks have just been outstanding.
Speaker 10 (23:47):
But the one of the talking heads is screaming about
a crisis in confidence. Uh, and a crisis in confidence
with respect to the truth, yes, from the mainstream media.
Speaker 4 (23:57):
Uh.
Speaker 10 (23:57):
And these Wall Street folks. And when I you know,
I speak in general when I'm pinging billionaires, I'm talking
about the Magnificent seven. There's billionaires in the manufacturing sector
who are great patriots.
Speaker 6 (24:09):
So it's kind of like, you know, China and the CCP.
But these guys that.
Speaker 10 (24:13):
This truth issue is serious, and the Wall Street Journal
and these folks, they're losing their credibility by the second.
Then Rachel Maddow comes in with a violin crying again
and oh.
Speaker 6 (24:23):
What were you big law firms?
Speaker 10 (24:26):
Don't you care about any of these you know, beautiful
words called the rule of law and all these beautiful
things you learn in law school. Rachel you got to
be kidding coming from the left. Once you get rid
of God, the truth is right there with it. Right,
there goes the truth, and there go all your beautiful words.
So if you want to reconstruct the beautiful words, Rachel,
(24:48):
let's get back at it. And you know, I think
it was Dusty Yusky or something like that he said,
you know, on once God has gone, everything is permissible, right,
And so I'd recommend that to Rachel. And then maybe Krekerguard,
build your faith and fear and trembling. That might help
out the left a little as well.
Speaker 5 (25:07):
I knew, I knew, I knew I was going to
have you on here to be the economists today, and
you were going to go more fully. You're going to
talk Kirkerguard.
Speaker 9 (25:13):
We got Dave bred down, hang on, no, what she
what she's talking about? And we'll play that club. I
wanted to tee the audience up. What she's talking about
is Mike Davis is going to come on. There's an
amazing piece in Politico. Yes I did say that. It's
an amazing piece in Politico, and it's about Trump and
the institutions and how the institutions are. You know, President
(25:34):
Trump is confronting these American institutions built by Americans over many,
many decades that have turned on the American people and
really represent globalist interest. And from the law firms to
the universities. I've got a whole other punch list. We
got to expand there like the banks, and President Trump's
taking them on and they're cratering. And Rachel Matdow, like
(25:55):
her or not like her, she is ahead of the curve.
She she sees where this is going. And she puts
out basically a cry for help as yesterday President Trump
of the day before, so I had that executive order
he signed on crabs in the voting machines, and tulci
Garbrett came at the same time. It says, hey, over
d and I I think we've got some evidence there
is messing with voting machines that'll shake them all up.
Speaker 5 (26:18):
And I say that as a guy that people know.
Speaker 9 (26:20):
I'm not a machine guy here, I'm a mail in
ballot and how they stole it. However, those machines, there's
something up on something I've always been suspicious.
Speaker 5 (26:28):
It looks like that whole narrative is about to change.
Speaker 9 (26:30):
And Rachel Maddow is pleading on her show to have
the cavalry come and save them from Trump.
Speaker 5 (26:38):
Okay, we got more economics.
Speaker 9 (26:39):
It's one of the reasons the bond market, I think
is kind of dicey right now. And Gold's at thirty
two hundred, yes you heard that thirty in fact, thirty
two to fifty. The reason is, we'll explain it in
a moment with Dave Bread from Liberty University.
Speaker 5 (27:00):
Hugh's your host, Stephen K.
Speaker 2 (27:02):
Bath.
Speaker 5 (27:05):
Biden would have Biden would have killed for these numbers.
Biden would have killed for these numbers.
Speaker 9 (27:09):
And it sure as your President Trump's economic plan is
starting to unfold, his economic plan is going to cause turbulence.
This is why we told you we're going to go
through turbulence. And we've been talking for years about the
end of the dollar empire.
Speaker 5 (27:21):
And you know we.
Speaker 9 (27:22):
Conceive this with the guys at Birch Goals at thirty
two to fifty. Let me repeat that, goals at thirty
two to fifty. Number one, people are looking for a hedge.
Central banks are looking for a hedge. It's time now
for you to get as knowledgeable as the central banks.
And you can do it by watching the War Room
and also going to get all the free information we
(27:43):
put on Birch Gold. This is why we do it,
and this is why we make it free. We want
to make sure we school, we learn you up, We
get you up the learning curve. Why because if you're
up the learning curve, you're a much more powerful actor
on this stage of global politics. And supporting President Trump,
you're just not repeating memes all the time. You actually say, Hey,
I can think this through. I see exactly what's going on. Listen,
(28:06):
We're going to have a good old throwdown on this
reconciliation bill. I can tell you that's coming. Who tells
me coming? I think part of this bond market revolt
is due to that, And the bond market is going
to get a vote on this. Why is the bond
market going to get a vote on this, Dave Brad
can tell you, because we have to finance refinance I
(28:28):
don't know, ten trellion dollars of government securities every year.
Speaker 5 (28:31):
Scott Beston's got to do this.
Speaker 9 (28:33):
The reason everybody got all worked up the other day
is because the bond market kind of froze in the morning,
and Scott had to make sure he did. You know,
they had a treasury auction of ten years and went fine.
It was oversubscribed. But Ray Dalyo has told you, as
much as I'm not a fan of Ray Dalio is
about China, he told you you have a failed treasury
auction in the future that could trigger some bad things.
Speaker 5 (28:55):
And here's the reason. We got thirty seven train in debt.
Speaker 9 (28:58):
And it's adding all the time, and that reconciler Bill,
I think, is only going to add to it.
Speaker 5 (29:03):
We're gonna get to that here in a moment.
Speaker 9 (29:04):
The real crisis, I think, which is in the strictly
linked to this war with the Chinese Companist Party. But
President Trump, the reason they're hating on him, the reason
Jamie Diamond, all these guys going on TV and hating
on him. The New York Post has got a gaspering,
has got the scoop Dave Bratt. President Trump is what
I've been a big advocate do. Let's get to the
(29:25):
banks now, let's get to the hedge funds. You've done
the you've got the law firms, you've got the universities,
although we haven't gone to the state ivys, which I
still say you have to do. But it's time now
to get to the banks. And what is President Trump?
The New York Post gasprin has got a big scoop.
President Trump's going to do what to the banks, And
they're not liking it at all. These money center banks,
they are living like fat cats. They bought the investment banks.
(29:48):
They're skimming everything off the top.
Speaker 5 (29:50):
What they don't want to do.
Speaker 9 (29:51):
Dave, is actually lend money to American entrepreneurs and small businesses.
Speaker 5 (29:56):
They hate that, right, because that's magat. Tell me what
President Trump's going to do, sir.
Speaker 10 (30:02):
Yeah, Well, what Trump's going to do is in start
contrast to Biden, who basically left these big banks. Right,
all goes back to Glass Stiegel and some legislation in
the nineties which let these giant banks who have you know,
massive balance sheets, allowed them to do what the small
banks can't do, and then they got profitable with all
(30:23):
the hedge funds and all that.
Speaker 6 (30:24):
Now Trump is saying, hey, no, you got this in reverse.
Speaker 10 (30:27):
You guys got the big balance sheets and the small
banks you may not like them, they may not be.
Speaker 6 (30:32):
As profitable you know, per unit or whatever. Tough luck.
Speaker 10 (30:35):
We give you certain legal status and whatever in law,
and you're going to start loaning out to the small
guy again, and so the big banks are going to recoil, right,
and I think they Charlie roughly said, if you just
want to go to be Hedgemunt, then just go be
Goldman Sachs. But in essence, Trump is just one step
after the other. And the mainstream media and all the
(30:56):
cronies in the press cannot get this story straight because
they don't want to see it. Trump is helping a
small guy in every single story we're doing.
Speaker 6 (31:03):
That's what he's doing systematically.
Speaker 5 (31:08):
No, this is what they hate. You know.
Speaker 9 (31:10):
One of the one of the folks in the engine
room that's always on top of things, said, hey, you
can tell him the you can tell in the open
that they're going down swinging, that the globalists are going
on swimming and they're cornered like a rabbit animal. Now
it's just personally attack on Trump. Personally attack on Trump.
It's only going to get worse. Everything he's reorienting is
to put America first. And it's not America only. It's
(31:33):
America first, and American citizens first. People miss sometimes the
second part of that. It's to put American citizens first.
The little guy, they're forgotten man, and woman that would
be you, that the whole burden rest on your shoulders.
You're the one that pays for everything. You're the one
that does everything. You're the one that volunteers or everything.
It's your sons and daughters or yourself back in your
(31:55):
early days that volunteered as a patriot to defend this nation,
to defend the Republic all over Hell's half acre, right. So,
and you guys, it's for decades and decades and decades.
It would just reached the point it can't continue. It
can't continue. Something's got to stop. That's why Trump ran
for president. Trump ran for president that I'm bringing jobs back.
(32:17):
These trade deals everybody's ripping us off, and you've had
a mass migration. Now, this is why yesterday and the show,
and I did some work last night before I gave
a talk last night to a group before I did
some work on this thing about getting an investigation going
of you know, how did they organize ten million people
to invade our border and now it's going cost us
a one hundred and seventy billion dollars to get it off.
Speaker 5 (32:40):
I want to go back.
Speaker 9 (32:41):
To that, this Reconciliation bill. One of the reasons and
the bond market is going to have a vote on this.
We're pretty good at predicting the future, or you know,
just it ain't that hard. Just look down the critical
path and you see what's got to happen. Write this
down with your number two princal. Bond market gets a vote. Okay,
is going to get a vote when everything's exposed, because
(33:03):
it's all got to be exposed. And we get into
this reconciliation and we got to stop the fantasy thinking.
It's not fantasy football. This is reality and there's some
fantasy going on. I want to start with and Brett,
I'll toss it to you for this article that's quite
frankly amazing because it just lays it out. I think
when they talk about one point five trellion dollars in
(33:23):
cuts you trading here being babang babung, that's over a
ten year period. I keep saying it because there is
a regulation that when they roll these things.
Speaker 5 (33:31):
Out, they got to talk in ten years.
Speaker 9 (33:33):
Part of that is to give them cover so they
don't have to make tough calls today and they can
just kick the can down the road and they sit
there and when McCarthy did it, people would call me
and go, how could you possibly oppose this? There's so
many conservative wins in here. I go, give me a win,
name one. They go with this program, this program, I go,
it doesn't kick in for years.
Speaker 5 (33:53):
What kicks in is he uncapped.
Speaker 9 (33:56):
He took the lid off the dead ceiling and kicked
it two years down the road. You gave him additional
year that Biden didn't even want to take it out
of the national election.
Speaker 5 (34:04):
You kicked it down. And what did Biden do? Ran up?
I don't know, six seven, eight trillion dollars. This is
what happened.
Speaker 9 (34:10):
And now that's all money spent and then go into
capital equipment or plant. It went into operating expense, and
now you're left stuck paying for the bill and it
gets harder and harder. Inflation is and now embedded because
Scott Besson's got to go out and raise you know,
ten trillion dollars a year of government securities. Dave Brett,
talk to me about the phoniness of these budget cuts.
Speaker 10 (34:33):
Well, the phoniness is embedded in one story, the group
of Rhino senators who are trying to keep Biden's green stuff.
But let's just get to the headline for the big
numbers in that article, and so they it's from I
think it's from kind of a center left group, maybe
even a Center for Budget control.
Speaker 6 (34:52):
But they're they're right on the numbers.
Speaker 10 (34:53):
Set one point five or one point eight trillion in
cuts over ten years, and that's it if you believe that, right.
Thune was having a hard time saying that in public
over ten years. That's one hundred billion a year whatever, right,
Versus eighty six trillion dollars in spending over ten years.
So one point eight trillion cuts eighty six trillion spending.
(35:17):
One point eight is about two point three percent of
that eighty six trillion.
Speaker 6 (35:22):
So we're talking nothing.
Speaker 10 (35:23):
And I don't even think you get to the one
point eight trillion in cuts.
Speaker 4 (35:27):
Right.
Speaker 10 (35:28):
The best indicator every single year is whatever we're doing
this year, whatever we're spending this year, So we do
another Biden Pelosi budget, that's what you're gonna get for
the next ten years.
Speaker 9 (35:41):
The this is the point over the ten years, repeat
that it's eighty six trillion dollars in spending.
Speaker 5 (35:49):
Is that correct?
Speaker 9 (35:50):
Tay bred eight eighty six trillion dollars they are going
to that's going to essentially be transferred from your pocket
in taxes right your pocket and tax yes, for them
to spend plus two trillion.
Speaker 5 (36:02):
Dollars a year.
Speaker 9 (36:03):
If they have a gap, they'll just sell it. They'll
sell the bonds to foreigners. And what they can't sell,
that we'll just sell to ourselves. Will just essentially print money,
and that deficit builds up, builds up, builds up. And
this is why when they come back and answer for
the death sealing of relief in the Senate bill, it's
lo and behold five trillion dollars. And I think that's
(36:23):
over two years. I still haven't got an answer on that.
I think it's two trillion dollars. It's five trillion dollars
that gets us to pass the midterms, then you've broken
forty three dollars.
Speaker 5 (36:33):
This thing's not going to stop until we make it
stop because the political class is too gutless.
Speaker 9 (36:38):
And let they sit there. They walk in front of
the camera. Mike Johnson walks in front of the camera.
We've had such serious and significant, you know meetings. Remember
they went to Durral about two months ago. They came
out of Durell. The conference came at a Durell their
think tank. They spent three days a draw and they
came up with thirty billion dollars in cuts.
Speaker 5 (36:59):
Thirty dollars and cuts. It's just it's it's it's ends.
It's a it's a joke.
Speaker 10 (37:06):
And and this is without any wars. Right, we have
World War two debt levels now percented GDP with no
wars going on right now. I mean, we wasted a
ton of Ukraine, but now there's serious stuff on the
map going forward.
Speaker 6 (37:19):
Right, So the budget.
Speaker 10 (37:20):
Doesn't include it doesn't include any COVID emergencies, no crises.
So the numbers are going to be way bigger than
the eighty six trade in spending. Right, this is just
status quo, built in government running as usual funding Biden
Green bailout bill.
Speaker 6 (37:35):
And if that thing ends up in there.
Speaker 10 (37:37):
They're going to crush the Republican spirit. This this new
spirit that thinks we're making progress. The Chip Roy and
all these guys are doing great work over there. He's
totally opposed. They got a group of twenty guys against
this thing, so I hope they I hope they put
up a fight.
Speaker 5 (37:54):
Well, they had twenty five votes. I guess, of course.
Speaker 9 (37:56):
President Trump's tax plan is in this too, and Bessett
and President Trump are correct. This is probably our last
shot to get a supply side tax cut where we
incentivize production.
Speaker 5 (38:09):
And that's you know.
Speaker 9 (38:11):
But even President Trump now it's all over. It's been
reported in a dozen different places. And guess what. Tom
Emmer and these guys are not happy about the people
that control by the big donors. He's saying, Hey, the
extension for the tax cuts for our audience, the working
class and middle class and entrepreneurs should go forward. But
for the upper bracket or a new bracket, they creative
(38:31):
people make a million dollars or more. I think we're
gonna have a snapback. I think we're gonna go from
the thirty seven back to the thirty nine, or if
it's millionaires, maybe at forty. There's all kind of talk
of what would happen, but it'd be the first time
that the wealthy got taxed with the Democrats didn't do.
Don't listen to Bernie Sanders and AOC and all this
happy talk. They had control in twenty one. They had
(38:52):
controlled the House. They had Schumer, they had Pelosi, they
had Biden, and they were damned quick to pass spending bills,
massive spending bills, right, incredible fuse traions of dollars into
the system that we didn't need to kick in aggurate
demand that had come back, and we just said, hey,
as you know, Dave Brett, you're the best of this.
Speaker 5 (39:13):
It's too few.
Speaker 9 (39:14):
It's just all you're doing is flooding the zone with
the monetary policy, and you're gonna and you're gonna, you.
Speaker 5 (39:20):
Know, more dollars. You're going to cause inflation.
Speaker 9 (39:22):
In that time, they talked about, oh they're billionaire tax
they're going to do this, and they're going to do this,
and they're going to.
Speaker 5 (39:27):
Tax the wealthy. Democratic Party did nothing.
Speaker 9 (39:30):
Why they're owned lockstock and barrel by the billionaires and
this group of goofballs called the credential class. They have
a bunch of degrees that they can't make a living
off of, and so they got to barrow the money,
and the working class in this country got to pay
for it.
Speaker 5 (39:45):
So this system has to stop.
Speaker 9 (39:47):
President Trump's tax cuts are very very very important. They
are and they will get growth of there's no doubt
about that. Best and it's got a model. They got
growth of it, but the growth is not going to
be great enough to close that gap.
Speaker 5 (39:58):
So somewhere somebody's going to to.
Speaker 9 (40:00):
Be an adult and say, hey, I actually think we
have to cut real spending. We can't be run around doze.
You saw yesterday Elon in the board meeting. I don't
want to say that. Steve Benning said this day was
gonna happen, but all of a sudden, it's not a trillion.
Speaker 5 (40:15):
Dollars, and it's not this year.
Speaker 9 (40:16):
It's one hundred and fifty billion dollars, and it's guess
what it's next year?
Speaker 5 (40:20):
Do you see the look on the cabinet? People will go, what,
hang on, where's my trade? And buck, where's my trillion dollars?
Speaker 9 (40:26):
The question I have for the guys over at O
and B, well, hang on, if it's one hundred and
fifty bion dollars a fraud and he gave some examples
that fraud has to be.
Speaker 5 (40:34):
Now, where's the cuts this year? Guys?
Speaker 9 (40:38):
This is why they had twenty five or thirty brave
patriots prepared to stop this. And just because you got
to get the movement, the process going, they said, okay.
Speaker 5 (40:49):
Well for right now, you know, holding.
Speaker 9 (40:51):
Reserve and kick the process off a lot more. We're
going to break all this down. Mike Davis is also
going to join us.
Speaker 5 (40:56):
Stick around, use your host Stephen k Back.
Speaker 9 (41:05):
He's trying to change the world order to make sure
that the American citizen comes first on everything, to deal
with the United States or American that America comes first.
There's massive resistance to this. Of course, there's massive resistance.
We've allowed a globalist system to develop over the last
forty or fifty years in which they've accreated all the
value to themselves. We get walking through the math, but
(41:27):
you don't need to just look around. You can tell
that that the middle class in this country, even people
with good paying jobs, you get laid off in a
tight job market ninety days.
Speaker 5 (41:37):
You're not doing good. You're not sleeping at night, you're worrying.
Speaker 9 (41:41):
That's the President Trump's trying to try to break that
system and bring back the high value added manufacturing jobs
here and to recreate what we have to war. And
people say that's just Nostalgia's not going to happen. Says,
who is it? Some second law thermodynamics is there's some
natural property in the universe that caused us.
Speaker 5 (41:59):
No, it didn't, No, it did not, Just like.
Speaker 9 (42:02):
The southern the situation of the southern border. As ben'sman
worked in last night. This thing was all architected by
human beings. I can see how the system evolved and
what they did to maximize you guys defending them, You
guys underwriting with your taxes and your retirements to pay
for it all, and that you and your children provide
(42:23):
the defense for it. Guess what that's stopping. That's ending
and they hate it. They love the free ride. Of course,
they love the free ride. Brat's gonna stick with me
for the next hour, and we're going to bring to
Mike Davis, the Viceroy, because the Politico has got this
story about the institutions, and I think it's fantastic. Mike
Davis has got an amazing analysis. He's in the story.
(42:45):
But it's about Boris and Miller and people, the people
over these years from twenty one who thought through, Hey,
how you have to go after the institution. So we've
talked here about this all the time, and I think
it ought to actually go to phase two to expand
to the state public ivys into the banks, into the
hedge funds, into the investment banks. Like they said in Godfather,
(43:09):
Hey let's get them while we're strong. Let's hit them
while we're strong. I think it was Frankie Pantangelo. Remember
all lessons in business coming from the Godfather. Jillian Barbary.
Done with debt?
Speaker 5 (43:20):
This is one of the issues here there.
Speaker 9 (43:22):
I don't know, five percent of credit cards are passed
due people are having to pay, you know, the nine
million people to have two jobs, people using credit cards
to gap to pay for.
Speaker 5 (43:33):
The monthly expenses. And that's where they get ahead of it.
Speaker 9 (43:35):
And the credit card companies are you know, they're a
group without pity. They look at this. This is why you
need a group like done with debt. Walk me through
exactly what the guys.
Speaker 5 (43:45):
Had done with that. If you've got a problem, what
do you do?
Speaker 9 (43:49):
I think what people want to know in the audience
is what do I have to do to find out
how these guys operate? What they're going to do for me?
Before I make any commitments? What are they going to do?
So once you walk us through it, you know.
Speaker 3 (43:59):
It's almost like having your own team of Michael Corleoni's
If you Will, greatest movie ever. They're going to go
in there for you and they are going to just
stand defense. They're going to cut those nasty calls, those
letters that come. Done with Debt is a company that
right now, especially you mentioned the middle class really feeling it.
(44:21):
People that have had jobs, carrying two jobs just to
cover the mortgage. Kids are going off to college. They
are in trouble. Sometimes it's disease. Sometimes it's just life
hits you. And when it does and it can and
it hits you in the pocketbook, you are stuck and
all the bills out up quickly. So what Done with
(44:43):
Debt will do. They will put you on a course
of action that's going to guarantee that your future is
going to be bright again. They're going to get you
on track. How do they do that? Exactly what you're saying.
They know all of the deals with the credit company,
credit card companies, banking institutions, they work with them. Some
people will wipe out your debt entirely for certain you know,
(45:05):
on certain cards, or take pennies on the dollar.
Speaker 9 (45:08):
Uh.
Speaker 3 (45:09):
There are so many things that they can do for
you to stop that immediately overnight, all the nasty calls
and letters and then put you on track. You have
to call them though, or go to Done with Debt
dot com. It's the first step. Because you always mentioned Steeve.
Time is not on your side, it's on the credit
card company side. Because every time thing comes up in
(45:30):
the roster, a little more, a little more money goes
on it for them, for you. Right, So if you
are in this position.
Speaker 9 (45:37):
Right, here's the thing that the interest, the interest continues
to accumulate, so that means the face amounts of accumulate.
These guys may be able to I'm not promising you
got to talk to them, you know, maybe not just
cap the interest payments, maybe even cut the face amount.
Speaker 5 (45:51):
And work at all kinds of restructurings. Here's the thing.
Speaker 9 (45:53):
A lot of people think, well, if I again that
much trouble, I can just go BK and then screw
the credit card.
Speaker 5 (45:58):
It ain't that easy, And that sticks with you for
a while, right.
Speaker 9 (46:01):
It sticks with you if you try to if you
try to get a car loan, you try to sign
an apartment, it's not just buying a house. It sticks
with you. There are other alternatives. My point to this
and the reason I love.
Speaker 5 (46:11):
Done with debt.
Speaker 9 (46:12):
Go to them and see what the alternatives are before
you make any decisions.
Speaker 5 (46:16):
They'll walk you through it.
Speaker 9 (46:17):
But what you can't do under any situation is just
let the letter or the credit card you put it
in the drawer. That cancer is metastasizing. It's not going away.
You have to address it, just like the irs. The anxiety.
I realized people and say well I don't want to
do it. I can you know I'll do I'll pull
a Scarlett O'Hara and I'll deal with it tomorrow.
Speaker 5 (46:36):
You can't deal with it tomorrow. You got to deal
with it today, Jillian.
Speaker 6 (46:39):
That's right.
Speaker 3 (46:40):
And the quicker you do, the faster you're going to
get back on track. And remember the first call, they'll
give you a consultation for free. And I have the
number for you today, Steve. It's eighty eight three two
four ten fifty four three two four ten fifty four
because they will talk to you. The first call is
so incredible because if you do decide to join up
(47:02):
with done with that, you're going to feel it overnight.
It happens automatically that everything stops and your head careers
and you have a team.
Speaker 5 (47:12):
You get that zen moment.
Speaker 9 (47:14):
Uh, Jillian, one more time, website and number. I need
people to make contact today. If you've got a problem
with your credit cards?
Speaker 5 (47:21):
Where do they go?
Speaker 3 (47:22):
Yes, And there's so many out there right now, Middle America.
You being hit.
Speaker 5 (47:25):
I always hit.
Speaker 3 (47:26):
I get it. It is done with debt dot com
on your computer or your phone or call eight eight
eight three two two one zero five four three two
two ten fifty four. There's someone on the other end
of the phone. They are there, they're waiting for you.
They're there to consult you. It's a free consultation. What
have you got to lose? Just check them out. What
have you got to lose other than your debt? So
(47:47):
it's incredible. Thank you so much for having me again, Steve.
I know how busy this time is, so I appreciate you.
Speaker 9 (47:54):
No, Jillian, thank you, Thank you so much. This nothing
could be more timely than this, the situation.
Speaker 5 (48:01):
Thank you, man.
Speaker 9 (48:02):
Appreciate you. Take the anxiety. We need you at the ramparts,
and we don't need you anxious. Right, We need you
at the ramparts and we don't need you anxious. We
need your focus. And you've had massive impact. Brat's sticking around.
We've got a lot more economics to go through.
Speaker 5 (48:18):
In politics.
Speaker 9 (48:20):
Good piece in Plogo day, actually, great piece of political
by President Trump's assault on the institutions, the institutions that
are betrayed, betrayed, working class, in the middle class of
this country, folks. President Trump's taking them on head on,
and the Viceroy is going to join us.
Speaker 5 (48:39):
Update on the Supreme Court
Speaker 9 (48:41):
And update on the assault on the institutions, all next
hour only in the War Room.
Popular Podcasts
40s and Free Agents: NFL Draft Season
Daniel Jeremiah of Move the Sticks and Gregg Rosenthal of NFL Daily join forces to break down every team's needs this offseason.
Dateline NBC
Current and classic episodes, featuring compelling true-crime mysteries, powerful documentaries and in-depth investigations. Follow now to get the latest episodes of Dateline NBC completely free, or subscribe to Dateline Premium for ad-free listening and exclusive bonus content: DatelinePremium.com
The Bobby Bones Show
Listen to 'The Bobby Bones Show' by downloading the daily full replay.