
Episode 4327: Start Of The Return To Normalcy As Market Tumbles...
Loading summary
Stephen K. Bannon
Says if it's in a cr, you've basically reconfirmed it was appropriated. That means you have to go to court. And we just saw the courts the other day are challenging President Trump on this very topic.
Eric Bolling
Yeah, they overturned his challenge of his.
Stephen K. Bannon
His ban on the 2 billion.
Eric Bolling
Looks like a lot of legal mess happening going forward.
Stephen K. Bannon
Steve, really good to have have you with us and, and go take it away, my friend. Eric. Erica, we didn't have a fight. We wouldn't be happy right now.
Eric Bolling
But I do have a present, I.
Stephen K. Bannon
Do have a present for you tomorrow. Make sure you're on because I have, I bring it, I hope you have.
Eric Bolling
A present for him to bring it to the set.
Stephen K. Bannon
I'm on. I wouldn't miss, I wouldn't miss my handover from Eric Bowling. All right, sir. Thank you, brother. Appreciate you. We're going to get into all of this, the cr, the funding, the markets. I told you, I've been telling you folks, hey, we're going to go through some turbulence. There's some turbulence today in the markets. They blame in a whole bunch of stuff. We're going to see what the, how the mainstream media and the financial press and the Business Channel has been covering it in our cold open. Then I'm going to come back and break it down all for you. Let's go ahead and play the cold open of the afternoon edition of the War Room.
E.J. Antony
Steve Mnuchin seemed to have a coalition with. Mr. I think Gary Cohn was in there as well, where they could speak truth to Donald Trump and stave off cataclysmic days like this. For everyone who watched their retirement savings plunge, for everyone whose livelihoods are tied to America's economy, which is everyone, does this speak to the weakness of the current economic cabinet members?
Natalie Winters
I think Howard Lutnick is the biggest cheerleader Donald Trump could find during the Cabinet meetings. He was the one who heralded the accomplishments and of President Trump. And when you look at Scott Bess and his treasury secretary, just on Friday when he was asked about on CNBC about the strategy behind the tariffs being implemented and then some tariffs being rescinded, he called it an organic decision making process, effectively acknowledging that it's an hour by hour, day by day decision coming out of the White House. And I think that that is also where I think Kevin Hassett is such an interesting figure in all of this. He was there during the first Trump administration. He was the one who is at the forefront of negotiating NAFTA 2.0 or the USMCA trade trade agreement at the direction of then President Trump. Fast forward six years later, it's Trump, the now president again, who is seeking to have Kevin Hassett, the man who negotiated usmca, go out and explain how the United States is getting ripped off by Mexico and Canada under the very trade agreement that he and Kevin Hassett negotiated six years ago. That is where it's very difficult to try to explain exactly what the goals are and the objectives are because the individuals around him are going out onto tv, yet have struggled in a way that is starkly different than even six, seven years ago during the first trade war, to explain what the priorities in the mission is of the tariffs that they are placing on these American companies from bringing in these imports.
E.J. Antony
I guess what I'm trying to understand is, is there anyone in the cabinet who previously or prior to January 20th advocated any of the policies they're now on TV shows defending?
Natalie Winters
I mean, Scott Bessant, the Treasury Secretary, said that there would be a much more tactical, precision type tariff policy that would be implemented by this White House. And he was somebody that was never a fan of tariffs. Yet President Trump selected him to be as Treasury Secretary. And we have seen everything but a precision, tactical approach to tariffs. And we have seen him in response go out and defend the across the board, sweeping tariffs that the President has directed him to enact.
Stephen K. Bannon
This is the primal scream of a dying regime. Pray for our enemies because we're going medieval on these people. Christians not got a free shot on all these networks lying about the people. The people have had a belly full of it. I know you don't like hearing that. I know you try to do everything in the world to stop that, but you're not going to stop it. It's going to happen. And where do people like that go to share the big lie? MAGA media. I wish in my soul, I wish that any of these people had a conscience. Ask yourself, what is my task and what is my purpose? If that answer is to save my country, this country will be safe. War room here's your host, Stephen K. Ban. Okay, Monday, 10th March year Villa 2025. What happened today was a market meltdown. I think we wiped off of the equity exchanges here in the United States. $1.5 trillion. Look, I say wiped off. It's markets go up, markets go down. This response, they said to what they feel is bad guidance coming out of the White House on the tariff situation. One day it's this, the next day it's that this is not a consistent message. You Saw MSNBC and the others are just an example. We could have gone on for 30 minutes of how Howard Lucknow never supported tariffs and now he's a tariff cheerleader. How, how Scott Bessens late to that and how Peter Navarro is here one day in the out the next. Yesterday, you know, Howard Lutnick did say it was on Meet the Press that he there was no recession in the forecast. President Trump, I think earlier on Maria Bartiroma, her weekend show had said, look, if as a recession comes, a recession comes. Let me just hit rewind for a second. Number one, the trade off, the handoff in the transition on the economy, the Biden economy is far worse than has been represented. And how do we know that the reset numbers and what happens when they put numbers out for like any quarter, first, second, third or fourth, you put the numbers out a couple of days after the quarter ends and they're preliminary numbers. It takes a while, five or six weeks, 10 weeks to actually get definitive numbers. Those definitive numbers came out for the fourth quarter which ended the fourth quarter of fiscal, the financial year for all financials, not the US government is December 31st. And they came out with the numbers and they said, hey look, we got to reset labor. And you've heard that before, we have to reset this. But there's one number we have to reset and that number is inflation. Instead of being 2.2%, it's actually a tad higher. Oh, how high is it? 4.2%. That rolls through the entire system. And one of the reasons it's 4.2% in those months. What else happened in those months? Number one, we had the largest budget deficits every month historically in the history of the country. I think right now we almost have 900 billion to a trillion dollar deficit for this year setting records every month. And that shows you we're having still this Keynesian infusion, this Keynesian stimulus into the economy. And that's one of the things driving inflation also. Oh, by the way, we're having record trade deficits right now. So that means we're buying much more than we're producing to the tunes of hundreds and hundreds and hundreds of billions of dollars. Principally that's from China, right? The Chinese Communist Party, which is in control 100% of the Chinese economy and the Chinese state owned industries. So we're essentially financing our own demise because we're buying from our, we're purchasing, you know, manufactured goods, the heartbeat of any economy, from our greatest, from our, you know, from our greatest enemy, the existential threat. President Trump's tariffs. Technically they have to do with fentanyl because that's one of the emergency measures you do to do this. It is the fentanyl crisis that's a big one. But also in addition, there is about, there is this not just theory of the case. It's about the United States is being ripped off by everybody. As President Trump says, Canada is one of the worst. Canada is one of the worst. And this is why President Trump keeps talking about reciprocal tariffs. Reciprocity will start on 2 April. The markets have finally kind of heard enough. They said, hey, we hear you. We see the jobs report the other day was pretty good. The White House still, Scott Besson I think did a very good job. The economic New York Economic club the other day. But this has to be consistent. It has to be everything. What have I said from day one? Every day President Trump should be talking about the economy. This is where he's best. This is his wheelhouse. You have one of the smartest businessmen ever, right? That is President I states. That's quite rare since most of them are career politicians or if not career politicians, people have come in to politics late in life. This is one that's, this is an individual that never ran for elective office before. Do we have the actual market meltdown? Let's go and play some clips on the market meltdown. Let's play right now. See the scale of this. I will return in just a moment. It's another sell off on Wall Street.
Eric Bolling
As you've just heard, the S and P is now at its lowest level since September. Since September before the election. Fresh data today is not helping quell recession fears.
Stephen K. Bannon
And the NASDAQ is seeing the biggest losses once again.
Eric Bolling
It's down 12% from the highs with today's 3 plus percent drop.
Charlie Kirk
The last thing I'll say about Wall street is that Wall street is a lagging indicator. What they are, they're not freaking out about. They're freaking out about the tariffs and the inconstancy. And they're freaking out when Trump acknowledges that there is probably a recession coming. What they are freaking out about is the data that shows that we are increasingly headed towards a thing that we have not seen in America since the Carter administration. Word Charlie will know it really well. Vaughn May is a little young for this, but stagflation, where we have inflation, you have inflation marked on the march. And while the economy is shrinking as a. If you thought inflation was bad for Joe Biden, stagflation is twice as bad because you now you're seeing unemployment go up, you're seeing growth slow using the economy contract while prices are rising. That is a political poison. And you have very serious economists from starting with Larry Summers and all the way on down who are looking at the horizon right now and saying it's not guaranteed we're going to have it. But it's becoming increasingly likely, especially if Trump continues down the path that he's continuing with these policies.
E.J. Antony
I mean, Vaughn, I'm not going to play it again because I've played it a million times. But Trump ran explicitly on juicing the economy on the price of eggs. He called it the grocery, the best jobs, the biggest paychecks, the brightest economic future that the world has ever seen. These weren't messages from when he was claiming he was the actual victor in 2020. These are messages from October of last year. He ran on rapidly deflating inflation, quickly bringing down prices and reigniting explosive economic growth. Everything he's done is the opposite of everything he promised. And I know there's some debate on and off television about whether the normal laws of politics apply to him. They may or may not. I believe they do. They certainly, they sure as hell apply to everyone who's going to stand before voters in the midterms.
Stephen K. Bannon
Okay, this is, this shows you msnbc, if you watch them or cnn, you would think Trump was handed a roaring economy. As we said, this show, for a long time we've had stagflation under Joe Biden. Remember all the jobs that were created and then they got reset to the millions of, you know, phony jobs they reported. All the jobs that, that were announced ever, the net job creation all went to foreigners, not even to American citizens. The Biden economy was a disaster. This is why President Trump won. I strongly recommend, and I've recommended this, that we now get totally organized, totally organized and start to make the case, so the American people can understand it, of exactly what President Trump inherited and what's the action plan. And that action plan falls into three broad buckets. Number one is a supply side tax cut. Supply side tax cut. That will drive productivity. Right. Will drive the supply side of the equation, not the consumption side. This will be, I think, our last chance to get a supply side tax cut. That tax cut will be the extension of the Trump tax cuts. And obviously I get some issues with the upper bracket on that. But I think that'll all be worked out in the one beautiful bill. The second is the deconstruction. The administrative state in the, in the massive deregulation that comes with that unlocks the animal spirits and gets a higher, a higher growth rate above the 1.9% or 2% that we have right now. This also goes with the supply side tax cut to get that growth rate, I don't know, three, three and a half percent, because then you get more tax revenue with that all coming with that coming in. The other part is tariffs, which is a different part of the economic model and drives external revenue or major companies coming back and investing in the United States, massive capital expenditure like Apple with $500 billion, like Taiwan Semiconductor with $100 billion in four years in Arizona, like Honda Motors, like many, many, many others think it's up to 6 or $700 billion of direct investment in factory, plant and equipment. Then you've got the overall financial picture which we're talking about. This is about the cr. I'm not happy with the cr. I hate it. But I see it as an interim step if people follow through on their commitments and promises and this is the White House, which I think we can feel confident President Trump will. I have no, no, no, no faith at all that Mike Johnson will. Mike Johnson has just lied and disassembled, shuffled around and got us in this jam right now. And I'm not so sure seeing coming out of the Senate whether this thing's going to pass or you're going to get enough votes to break cloture. And I think the Democrats actually want to see President Trump's government shut down. So we're in a jam. But there is an economic plan and they're executing on the economic plan. To me it has to be crystal clear diamond sharp on the messaging of it. A short commercial break. Birch co. Now more than ever. Now more than ever. I told you gonna get turbulent. Gold is a hedge. Bannon Text Bannon b a n n 989-898 to get the the brochure Investing in Gold in the Age of Trump the Ultimate Guide. Check it out today. Short break. You don't go out and buy a life jacket when the boat is is already sinking. And you don't buy gold when the economy has already collapsed. Clearly others are heeding this advice as gold hit an all time high the first part of 2025 multiple times. It's not too late for you. The company I trust to help you diversify into physical gold is Birch Gold. The company I buy my gold from. Birch Gold specializes in helping you convert an existing IRA or 401k into a tax sheltered IRA and physical gold for no money out of Pocket. Just listen to this five star review, quote, knowledgeable, helpful, non pressure, end quote. That's what you get with Burch Gold and that's why I've endorsed them for so long. Get your free info kit on Gold by texting the word Bannon B A N N O N to 989-898. There's no obligation, just useful information with an A plus rating from the Better Business Bureau and countless five star reviews. Text Bannon B a N N O N to 989-898 and let the experts at Birchgold help you secure your financial future today with Gold. Here's your host, Stephen K. Bannon. Folks should know we got Kevin, but that's my technical mistake. We got Kevin Boic down at the BLM Plaza. For folks that may have forgotten this right next to St. John, the other side of Lafayette Square, right across from the White House, that beautiful park, that little park with Blair House is kind of on one side of it you've got St. John's Church where the president always does the religious observance. On the morning of the inauguration they go, they have religious observance and pray for the country and pray for the republic and pray for the president. Across the street from that is the Hay Adams Hotel. It's the former home of John Hayes who was John Hay, who's the secretary at the age, I think, I don't know, 20, 21 of President Lincoln. He and the other secretary at the time, because all secretaries were male secretaries at the time, wrote probably the most insightful or one of the most insightful eyewitnesses accounts of Lincoln in the Civil War. It's absolutely brilliant if you ever read a bridge version of it. Later became secretary of state. A real power player. So that hotel is one of his houses or stands where I guess house, I think his house itself might have been was a hotel at first and got torn down. The beautiful hotel that said they've been there forever. Outside there during BLM, the height of BLM, they spray painted St. John's Church. They defaced the church. The church they actually threw, I think Molotov cocktail started to burn one time. This is the one that President Trump went out and did held the Bible in front of that Milley and Esper went back and committed their treason afterwards. Said they were going to work together to make sure that they could basically hold down the President. That was in June of 2020 during the COVID and later they, you know he was very upfront Millie that he was going to, you know, after the election was stolen, he talked to the Chinese Communist Party. It's why he should be recalled to active duty. I noticed that hasn't been done yet. Recalled to active duty, court martialed for treason. That plaza under the direction of President Trump because the federal government runs the Washington D.C. it's being torn up. Go now to Kevin Posobec. Kevin Posobec, is Kevin Posobec there? Let's go to Kevin Posovic at BLM Plaza. Kevin, what do you got for us?
Kevin Posobiec
What's going on? STEVE and yes, you can see behind me I have St. John's Church, and I was just in there earlier, and to what you were saying, it is a very historic church, and there's even a pew where Abraham Lincoln sat in the back of the church during the Civil War and the historic Hay Adams as well. And what was once a historic plaza here is going to be demolished. This is the former Black Lives Matter plaza, now just 16th and I Street. But word on the street literally is that it might be renamed into the Liberty Plaza moving forward come America's 250th this year in celebration. So we had some mixed reviews here and there. There's some people picking up stones from the work today. And you know, some some people are applauding this and some people are obviously protesting, not many anymore, thanks to usaid. They don't have the funding to come out and protest, but here we are.
Stephen K. Bannon
DOGE hey, Doge, you're doing your job. Hey, Kevin I just want to stay right there. So, folks, you look down the street to your left, and that's St. John's Church. Kevin is by the by, I guess, the 16th street side. You're looking down that right in back of Kevin all the way down is Lafayette Square. And then to the right of Kevin is where the Hay Adams would be. This whole block, this historic block was kind of, I guess they had yellow bricks and they had BLM and these huge block letters to kind of mock people. And particularly after they desecrated St. John's Church to make like a big deal about it. KEVIN yeah.
Kevin Posobiec
STEVE so they, they did. They sure did. And so so far today, the you can see these, these these black pits here are from they're digging up the posts first and they're going to come back. And this is everybody's reporting. There's a few things I want to point out. This is more than just painting over. They actually cut into the in the street here and did a skim coat of concrete across all of it. So they're gonna have to dig all this up and redo the whole thing, aside from the posts. And not only that, but I was also seeing that this is an actual evacuation route as well. And you can see straight down from me is the statue of Jackson on the horse and then the White House. But this is an actual evacuation route, so we need this cleared. We need these lanes opened. And it's, it's, it's. It's. It's time for. It's time for just a regular old street again. I personally don't think they should rename it, but, you know, we'll see, because then you just get everybody renamed, everything. What's that?
Stephen K. Bannon
Yeah, Kevin. During the height of the. Of the. In June, particularly of. Of. Of 2020, I mean, D.C. was really under siege there for a couple of weeks. This became the centerpiece of it right here. I cannot emphasize enough. Symbolically, this is the equivalent or maybe even higher than taking the Kennedy center, then throwing the bums out of the Kennedy center and reprogramming that to great art in American culture, in Americana and all that. This right here, this goes to the heart of the radical Marxists and Neo Marxists that run Washington, D.C. under the auspices of the NGOs in the Democratic Party, sir.
Kevin Posobiec
It absolutely is. And I can tell you what, Steve. I came down here earlier, and I witnessed. I was in Philadelphia in 2020 myself around this time. And of course, Jack was down here. But listen, I couldn't be more thrilled about this. I mean, these people, these cultural Marxists, they want to tear down any statue. They took down the Frank Rizzo statue in Philadelphia, and they said, anything, you know, that is oppressive to our rebellion, we need to take down. They wanted to take down so many statues. They defaced the Benjamin Franklin statue outside the old Press building down here in dc. But one thing, you know, they. They. They addressed the DA's, they said, Da, Larry Krasner, we want you to not charge. We want you to drop charges against anybody that gets arrested during this rebellion for our. For our. You know, for our success. And then also the mayor. They want the mayor to step down whenever there's any kind of riot or protesting just so they could succeed. Those were their demands in 2020. And I witnessed that in Kensington, too, of all neighborhoods. And during the rioting and looting, I took my stimulus check from Joe Biden whenever he gave us all that for Covid. And I said, I don't really want any of this. This is going to mess up. This is messing Everything up. I mean, you're on top of the CR bill yourself and everything coming out. But he gave us those stimulus checks. I turned around, I went to the supermarket and bought all these energy drinks at Gatorades, and I handed them out to the National Guard down there. So I turned around and I did that today to these boys down here. It was getting a little hot. It's a nice spring day here. So I came. I came and gave them all Wawa coffee earlier this morning. And, you know, just a charity. Charity, my own funds. I was trying to. I was trying to butter him up so I could get on. I was trying to butter him up to get on the skid steer myself.
Stephen K. Bannon
But they said, no, no, no, no doubt. Hey, Kev. Hey. I'm so shocked. A wild man walks up with a camera, says, I want to be a driver on your skid. No. The answer is no, sir. Kevin Trump. President Trump has wanted to do this for a while. Do we actually know how this was effectuated? Do we actually know how he told. Because people forget, DC Is totally under the control of Congress and essentially the White House. In fact, one of the issues they have in the prison system, except every crime in D.C. that's like a violent crime or birth, is a federal crime. There is no. There's local law enforcement. But since it's a federal district, everything is a federal crime. We know. I know Bowser and the people in dc, The Marxist radicals that run it, are absolutely infuriated by this. Do we have any idea how it came down?
Kevin Posobiec
Well, you know, I was talking to a few people. I've been here all day, and it seems to be somewhat related to the CR Bill. I want to say it's something along the lines of resetting it to 20, 24 measures, and there will be a billion dollars less for DC So it seems like Trump and Bowser might be working out a deal towards, you know, given Trump this. I don't know if he even cares for it, but, I mean, there's some kind of deal happening here.
Stephen K. Bannon
Now, this is going to take. This is going to take how long? This is going to take what, 20, 30, 40 days, a couple of months. What do you think?
Kevin Posobiec
I talked to the guys this morning. They said about two weeks. They said about two weeks. And I was seeing reports online up to six weeks. But as I said, it's a. It's a big job. And I have. I have had experience working on jackhammers and skid steers, but, you know, so this is more than just paint on the ground. They actually cut up the road. So they're gonna have to take all this out. They're gonna have to redo the whole road and take the posts out too. So at least a month and we'll see. We'll see what happens. I mean there's, there hasn't been any demonstrations yet. We were hoping to see maybe some congressman or who knows who's going to come by and make a statement maybe, but nothing yet. But coming week or so for sure.
Stephen K. Bannon
I'll talk, I'll talk. I'll talk to Jack. If we're missing you tomorrow, I know you're over there. You got a job with a jackhammer. Kevin, what is your by the way, Kevin Posovic, known in history as the man that named the Gulf of America. Where do people go for your social media, sir?
Kevin Posobiec
Sure thing. You can follow me on X, Twitter, Kevpazovic Evanpasovic and also on Instagram. Yeah, follow me on there. And Human Events Daily. We're War Room Posse family. We love you guys. Rav Family. Yeah, it's great to be down here. And yeah, stay tuned. Stay tuned. We'll see. I'll let you know if they get me on the skid steer for sure, Steve.
Stephen K. Bannon
Please let me know. Fantastic. Thank you, brother. Appreciate you. Kevin Bosobic. And I'm hearing that Kevin's hit here in War Room was even better on Human Events Daily. Well, that's obvious. There's a better interviewer who actually listens to his subjects and doesn't talk over them. Maybe not. Okay. Birch Gold, what a day on Wall Street. It's going to be turbulent. President Trump's trying to implement a new business model kind of for the political economy. Massive cuts to federal spending, also using tariffs to drive back high value added manufacturing jobs and drive external revenue. And stop fentanyl. The Mexicans have it. They've got the joke. You heard Oscar Blue Ramirez this morning. Bannon at 989-898. Birch Gold, the ultimate guide to investing in gold in the era Trump. Check it out today. Short commercial break. Back in a moment. How well do you sleep at night? Real peace of mind comes from knowing your family is prepared for anything. My Patriot Supply, America's most trusted name in emergency preparedness is offering a time limited discount on their best selling three month emergency food kit. Now this is the basic the three month emergency food kit. This isn't your typical survival food. Each kit provides over 2000 calories and 100% of the recommended value of 12 essential vitamins and minerals daily for 90 days with delicious meals and extras including chicken, beef, fruits and veggies. We're talking quality meals that last up to 25 years in storage and still taste like home cooked. The pandemic taught us how quickly store shelves can empty. Don't wait for the next crisis. Your three month emergency food kit includes free shipping, a disaster replacement warranty and 24.7us based customer support. This special discount is available for a limited time only. Visit my patriotsupply.com now to secure your family's future with a $100 discount. If you order by 3pm they'll ship your order within the same day so you have peace of mind right away. Get my Patriotsupply.com by going to my Patriotsupply.com do it. Do it today. Use your agency. Action. Action. Action. We really stand with what President Trump inherited. As you see the economic battlefield in.
Eric Bolling
Front of us, it feels like less a battlefield than a minefield, frankly, what President Trump has inherited. I mean, it is difficult, Steve, to, I think, to get across to people just how bad the economy is because what the economy actually looks like today and what people's lived experiences is just simply not matching up with what the data say. There's just too many problems again with the data going back to what we were just talking about, right? There are things wrong with the data themselves. And this, I think is why President Trump won such a great victory in November, right where you had him winning the popular vote, every swing state a huge electoral majority. It's because the media was not successful in telling people, don't believe your lying eyes and don't believe your empty wallets, everything's fine. So we are staring down the barrel of more inflation, courtesy of the Fed's interest rate cuts last year and relatively loose monetary policy. Let's not forget the monthly. If we look at the monthly inflation reports, the annual inflation rate that comes in every month, that has gotten worse each month since the Fed started cutting interest rates. So clearly we have more inflation coming down the pike that the President will have to deal with. We have all of the messes internationally that the President is already dealing with, especially in places like the Ukraine. We have a banking crisis which still really hasn't gone away. The Fed just papered over it with things like emergency lending programs. But that is still very real. We have a commercial real estate sector that is in absolute turmoil. The housing market is a disaster. We just got pending home sales numbers this morning that were down to a record low. Pending home sales today are about 30% below where they were in 2001, not 20, 21, 2001. So here we are essentially a quarter century later and the housing market is 30% less activity today than it did back then. That's a disaster even before you factor in things like population growth, for example. So again, what this president has been handed is an absolute dumpster, frankly of an economy. Things are terrible. The deficit is exploding. It's the worst start ever to a fiscal year in terms of that deficit started in October, ran through January, the worst four month start ever to a fiscal year. And at the same time, you have a Treasury secretary and Scott Bessant who is a master of sovereign debt markets. And he's gonna need, I think, every ounce of his mastery and expertise to really unwind the disaster and the mess that he was left by Janet Yell. In terms of rebalancing the Treasury's portfolio, in terms of trying to get the yield down on the 10 year treasury note, trying to get the interest payments down on the debt. Those interest payments are already over $1.2 trillion a year. I mean, Steve, if you give me an hour, I could fill it. I'm sure with all of the negative aspects of this economy that President Trump has inherited and that he's gonna have to deal with.
Stephen K. Bannon
Add on top. The only one you missed, we had a record trade. Okay, okay. That's a master class right there. It's our own EJ and Tony that is a master. I do this, I watch this stuff for a living. No one has done a better job. That is from 10 days ago when they first recalculated the numbers. Normally we have EJ on about the labor statistics and go through all that is the commas and spectacular. But they're asking. Pull the camera back. Because why? Because the interest. The interest rate went from the inflation. Excuse me. Inflation rate went from 2.2 to 4.2%. Didn't go from 2.2 to 2.5 or 2.6 or 2.8. 4.2%. It's a dumpster fire. We need the proper framing. If you watch MSNBC or cnn, it's all. It's been great, it's been lovely, it's been fantastic. Trump took up. No. And this is the reason is you have to set the framework so that then folks understand. Here's what we're doing. Here's what we're doing to. On the. For a supply side cut. This is why Doge is in trying to find waste, fraud and abuse. Because we cannot exist at six and a half percent deficits to GDP, that's over $2 trillion. You can't go on, you can't finance it. The BRICS nations will all punch out and you're going to have a, you're going to have the end of the dollar empire and then we're really screwed. As much as we have to have a national debate about that, you just can't do it overnight. It gets to why you have to have massive cuts of federal spending and they're going to be painful. People have to address that. We have to be able to take the political pain. But you can do that by explaining the American people and being straightforward with them. We're in the CR and I understand this audience ain't happy. I know you're not going to be happy. May have to take one for the team here. And I know you're sitting there going, well, hey, we've taken enough for the team. We fought for this, we won this. And now we don't understand why we're here. Right up to the 14th of March, when I understand that in the 14th of December you were promised a single subject, appropriations bills. Well, this is why. And I just to the White House, same House leadership keeps tapping you along and President Trump has a tweet out right now. President Trump's making calls and President Trump is now forced with everything he's got on his plate on the economy and everything else, President Trump has now got to whip the vote. That's where we are. And that's because there are congressmen out there saying, you know, President Trump, we love you, we support your plan. But in the big hang up, it's not, look, the Biden budget, bad enough, the $2 trillion deficit, horrible. But I think what sticks in people's crawls is Doge is that, hey, these guys and yes, we understand they still have much work to do and they're going around. But hey, the rest of you just heard Mike Benz and Eric Bolling and Kevin Posobec from soon to be renamed Liberty Plaza where BLM used to be, talking about USAID funding all this crap and we know it. And now technically we're going to have to fund it with a promise. We understand it's a commitment that you're going to do a rescission or an impoundment. And the great backbencher Congressman Burleson went on Twitter today, said he had actually, I think had a talk with the White House, said, hey, they promised we're going to do it. So I ain't happy, but I'm Kind of all in. Nobody's happy. Then you have a day like you have today in the markets. The information's there. The plan is the correct plan. People have thought this through. They've run numbers always and everywhere. I told you, the execution here is going to be tough. And you're going to lose some Sunshine Patriots and summer soldiers. They're going to be. It's going to be too tough for a lot of people. And this is why. The night he won and they're all coming back and loving on Trump and rubbing up on Trump and then they get the inauguration all walking around, ball gowns. You got these billionaires, they're having a crypto ball and they're doing this. That's all fine. I love it. People celebrate. Come together. Yo, dude, in 100 days, we're gonna be in some trenches, okay? And I wanna see who's in the trench next to me and how we're gonna force this program through. Because it's gonna happen the old fashioned way. Political muscle. It's not gonna be behind, you know, quiet conversations. This is not an era where quiet conversations work. That type of politics went away with the cloakroom and three networks on a little teeny black and white box when Walter Cronkite told you what they thought you had to hear. Now you hear what you're prepared to go hear, right? It's all over. It's out there. Natalie Winters, our White House correspondent, joins us from the White House. Talk to me about tariffs, man. That's one of the reasons $1.5 trillion wiped off the value of, of the stock market today. As you know, markets go up and markets go down. But this is part of this is blamed on the inconsistent messaging around the tariffs or maybe people's commitment to this new business model or what its impact is. Ma'am.
Dr. Peter Navarro
Well, Steve, I think I would also add perhaps the largest data point to that wonderful explanation by E.J. antony, which is the resounding victory that President Trump had among primarily America's working class, right? People who were sort of new to the MAGA movement because of the unfortunate lived reality of Joe Biden's economy, which I think we're learning more and more every day, was essentially propped up not just by fake numbers, but by government contracts, by employment, for illegal aliens. Right? In the same way that MSNBC sort of, I think, chastised the Kamala Harris campaign for saying, you guys lost on the economic issues because you tried lying to the American people by saying that their economic reality, it actually wasn't that Bad. Just look at the data. Just look at the facts. I think the Trump administration should almost heed that lesson and not, I think, fall victim to the same, I think, messaging pitfalls. However, there is a bright spot today, a wonderful article coming out, believe it or not, from Reuters. And if I were to say it to you, you probably wouldn't believe me that it's actually them saying it. So I'll just read you the quote. But talking about how President Donald J. Trump's tariffs are already working as more and more companies are looking at, quote, expanding their presence or setting up shop in the United States. Like I said, that's a direct result of these tariffs. They go on to list several companies, including Campari, Compau Electronics, Essidy, Honda, Hyundai, inventech, LG Electronics, lvmh, Samsung, Stellantis, Volkswagen and Volvo. So a nice win in terms of reshoring manufacturing, which I think, as you've always sort of said, is maybe perhaps the first step in reorienting the American economy to be more in line with the America first sort of populist agenda and stopping ceding all of our factories and manufacturing to our mortal threat, which is the Chinese Communist Party.
Stephen K. Bannon
You're there every day. And let me make an observation. It's far from a criticism, but I know there's some, there's complex. He's doing executive orders, you know, Days of Thunder. He's doing ten things a day. Do they have to get a little tighter with the message the actions are there on the policies of the economy. Remember I always told you that middle one about the getting through this financial is going to be the existential threat. Do you believe as you sit there every day at the White House that maybe you could have as Carolina, Caroline goes up and does a great job. Maybe she's augmented by somebody from Treasury. Maybe, maybe, you know, every other day they're giving a detailed and in particular you bunch these investments back here are just, they've never happened. I mean, Biden's four years, I think they had $1.7 trillion invested. Trump's done that in 40 days. Do we need more of treasury over there helping the comms team? Do they need more part of a daily brief? If Caroline's going to do it, you hit 10 minutes on the economy because clearly this is everything. And what galls me, as you know, we've reported on this stagflation for years. Biden and now it's like a whole new concept. It's like a whole new thing. Trump stagflation which is a bald faced lie. Your thoughts and observations, ma'am?
Dr. Peter Navarro
Well, look, I think we're lucky to have such wonderful communicators in the form of people like Scott Besson and of course, Dr. Peter Navarro, right. Who's been on the show, hosted the show. And I think if you were to put people like that in front of the cameras, they can, I think explain it in the same way that E.J. antony was. But I also think that the issue is not so much really on the, I would say supply side, right, in terms of who we have to message. Because you know as well as I do as this audience does, even if we put up our best communicators, even if you put EJ and Tony right behind that podium, you think my wonderful, wonderful colleagues are going to, you know, share that message in the way that you or I are, frankly, any way that comports with the truth, right? Obviously not. So I think in some ways, if you look at all of this as, you know, being interconnected, I think the comms office, the press team really has sort of done to the best of their ability, right? They have taken on these sort of legacy media establishment and I think one way that they can actually push back is through these new media voices, right, who are more willing and eager not to to, you know, repeat their propaganda lines like Mother Jones has told us, but just to report the facts. And frankly, I think the most effective way to communicate with these people is in their own vernacular, in their tone. I think people should be pulling clips of the last four years on MSNBC and CNN and Fox where they talked about the bleak, dismal reality, the lived experience that was Joe Biden's economy. Look, we have the upper hand here. If what we have to message is that Joe Biden economy sucked for millions of Americans, that's a really easy messaging war to win. I think we just need to realize that just because you say that, we don't have the luxury, the benefit of the doubt that comes with the wash, rinse, repeat that all the tents not too far away from me have, because they control, control the legacy media outlets, right? We got to get a little scrappy. But I think that's why the new media is here, right? To push back. So that would be my, again, very, very humble suggestion.
Stephen K. Bannon
Natalie, hang on a second. Because you have a big story about Act Blue. I want to make sure we get plenty of time to get to that Patriot Mobile. You know, we've gone out of our way because we believe in it so much, this Patriot economy Looking for alternative, looking for alternative companies and spaces where you need the products or the services. One is Obviously Telecom Communication. 972 Patriot. You know the good work they do in the community in Tarrant county in Texas, how they give the philanthropic. But what you don't know, it's so Easy to switch. 972 Patriot. Go check it out today. Short break. Back in a moment. You wish you could have invested in the stock market last year when investors scored the highest profits in decades. But between that mountain of bills and credit card debt, you had nothing, and I mean nothing left over. It's time to stop letting debt hold you back. Let me tell you how Done With Debt can help. They have a brilliant new strategy designed to tackle your debt and put cash back into your hands so you can save and invest and build the life you've been wanting. Done With Debt goes head to head with credit card debt and loan companies. Their team of negotiators and legal experts work to significantly reduce your bills, eliminate interest and erase penalties. This frees up cash to invest while the stock market is still hot. The bottom line is this Done With Debt helps turn crushing debt into financial freedom. That's crushing debt into financial freedom. But some of their strategies are time sensitive. So don't wait. Start building the life you deserve. Visit donewithdeb.com and talk with one of their strategists. It's free. Go to donewithdebt.com that's donewithdebt.com here's your host, Stephen K. Band. Okay. Natalie Winters, Act Blue, ma'am.
Dr. Peter Navarro
Yes. Well, I think everyone in this audience knows that Democrats are and always will be the party of open borders. But when you follow the money, I think that conclusion is only more clear. Obviously, ActBlue is sort of the leading financial firm institution that Democrat candidates and PACs use for their fundraising efforts. But what I found just breaking today I think is quite concerning, showing that really the full scale invasion of this country, not just under Joe Biden, but his predecessors too, has been facilitated and funded by ActBlue. I was able to go on their website and look at the dozens of organizations that they list as their essentially financial partners. And really from cradle to grave, from start to finish, every single aspect of the invasion of this country, and I use that word intentionally, ActBlue somehow is involved. They are the financial intermediary for dozens, I'm talking dozens, probably closer to 100 NGOs.
Stephen K. Bannon
Okay, hang on.
Dr. Peter Navarro
I want to give you some examples of this.
Stephen K. Bannon
Hang on, hang on, hang on. Hang on, slow down because my head's blown up already. ActBlue is one of these things like they're supposed to just be to help facilitate. A person sees, is watching MSNBC as they're free to do, and they see some person from Michigan that's a congressman and they're supposed to go on ActBlue and give $10. And it very quickly can go. That congressman is supposed to be one of these intermediaries between donors, particularly small donors, and people actually running for Congress. I thought that was their task and purpose of which they're known for. Correct.
Dr. Peter Navarro
Well, look, Steve, don't get me started on the smurfing, right? The idea, all these small dollar donations coming from the mythical MSNBC sea viewer that I think is increasingly rare, if not extinct. But setting that aside for a second, talking about these NGOs, which I've essentially chronicled, you can go to my, my X account, look at, I think probably the longest thread I've ever put out. But there are groups like for example, the Kino Border Initiative or other groups like Border Angels who set up, catch this, water stations along the southern border along illegal aliens trekking from Mexico up to the United States, setting up resources, like I said, like water, to help them make their journey to the United States. Those groups use ActBlue for fundraising. Then once they actually get here, groups like Catholic Charities and their Lutheran counterpart, which this audience knows very well, not only do they receive tens of millions of dollars in government grants, but they're responsible for flying migrants from the border right into the interior of the the country. Then you have another sort of tranche of NGOs that then are working in the communities that these illegal aliens are flown to to set them up. In some cases they even admit on their website getting them enrolled in public assistance and government assistance programs. Also on the other side of it, you have NGOs that are working on the legal side, providing pro bono legal representation not just for illegal aliens who are seeking citizens citizenship or green cards or whatever, but including illegal aliens who are detained by ICE trying to avoid deportation. Then there's other NGOs that activate, or rather currently are actively engaging in setting up what they call either know your rights campaigns or ICE emergency response hotlines. So when you've heard these stories about ICE agents getting doxed or illegal aliens calling to alert people of ICE in their neighborhood, ActBlue is responsible for funding these organizations. And then essentially on the other side of it too, right, all the activists, the organizations, the protests, the mass phone calls and the lobbying efforts not just to change legislation, but to intimidate ice. Right. Those groups all also use ActBlue. So what you're seeing is maybe perhaps at best, just straight up fraud. Right. It's kind of a weird convergence between the Democratic Party and the open borders agenda, which, like I said, that's not a conspiracy theory to anyone new to the show, or rather all of the show. But at worst, what you're seeing is that ActBlue is facilitating, in some cases outright, dare I say, human trafficking. Right. You're talking about the mass movement of illegal aliens. We know that that's a very shady, dark, dark, dark business and essentially the backbone, right. Of this, of the invasion of this country from cradle to grave, from the NGOs that are helping illegal aliens get here, to processing them to flying them, to providing them legal aid to become citizens or avoid deportation. And if we have time, Steve, I just want to read you how radical some of these groups are. The Immigrant Take your time foundation, by the way.
Stephen K. Bannon
Hang on, Natalie, Natalie, I'm a hold you through, I'm a hold you through the break here because I have a lot of questions. This is so powerful. Your investigation here is just pretty shocking. Go ahead and, go ahead and read and then we're going to go to break.
Dr. Peter Navarro
Sure. So this group, Freedom for Immigrants, helps train Americans to, quote, end detention. So that's abolish all ICE facilities in their districts. The Immigrant Home foundation explicitly advocates for criminal illegal aliens to stay in the United States. Immigration Forward is an NGO that lobbies to keep HIV positive illegal aliens in the United States. The, quote, black immigrant collective states that their goal is abolition of all detention center centers and liberation for all black people. You have the Immigrant alliance for justice and Equity of Minnesota, which explicitly works to get illegal aliens on public assistance programs. And perhaps my favorite, you have a group that describes itself as a, quote, abolitionist organization that, quote, denounces white supremacy, the patriarchy and capitalism and is, quote, pro black, pro brown, pro indigenous, pro queer, pro trans, pro sex worker, pro worker, pro woman and gender minorities and pro earth. So these are the kind of groups that ActBlue is entangled with. And I know people might say, oh, well, it's just a payment processor. But this will be my parting question until we go to battleground. If the equivalent of win read to the Republican Party, right. The financial backbone of the Democratic Party is fully endorsing, if not outright funding that which in effect turns into the full scale invasion of this country. I mean, I think we can essentially say case closed on the idea that the Democratic Party is for the full scale invasion of the United States because that's what all these really, really, really radical groups, their explicit mission statements are. So you can only imagine how much worse it actually is behind closed doors.
Stephen K. Bannon
Natalie Winters, you hang on for one second. We're taking short commercial break. We're going to go back to the White House. We've got so much in the second hour. We're going to take on Freed Zakara, his Zakaria, his CNN special yesterday. We're going to talk to Cleo Pascal about the Drudge Mac daddy over the weekend that says the Chinese Communist Party has made the Caribbean a lake for the Chinese navy and much, much, much more. We got so much to go to. We're going to go back to Natalie at the White House. Short commercial break. We're going to leave you with the right stuff back in the war room for the second hour of our late afternoon early evening show in a.
Dr. Peter Navarro
Foreign.
Stephen K. Bannon
The April 15 tax deadline is coming and it's coming fast. Do you have unfiled tax returns? Can't pay the irs. The IRS is more than aggressive and the more aggressive than ever. And the longer you wait, the worse it gets. Wage garnishments, bank levies, even property seizures are all on the table. You need to get ahead of this. You need to get ahead of it today. But going up against the IRS alone is a big time mistake. Take my advice. Call the experts at Tax Network usa. They know the system. They have an edge, a preferred direct line to the irs. They know which agents to deal with and which ones to avoid whether you owe $10,000 or $10,000,000. Their genius strategies are designed to quickly settle your tax problems in your favor. Tax Network USA's attorneys and negotiators have already resolved over $1 billion in tax debt. Let me repeat that. They've already resolved over $1 billion in tax debt. Tax Network USA can help you, too, but you need to move. You need to move fast because April 15th is already here. Remember, if you get that letter, don't put it in the drawer. It just metastasizes. Talk with one of our strategist. Today. It's totally free. Stop looking over your shoulder. Stop the anxiety, stop the worry. Put it all behind you. Call Tax network USA at 1-800-958-1000. That's 800-958-1000 or visit tnusa.com Bannon that's Tax Network USA. Go to tnusa.com Bannon Human really trying.
Natalie Winters
To fill this gap of quality supplements and of course, the beef liver being our flagship products. For those who don't know, beef liver is loaded with highly bioavailable ingredients such as vitamin A, B12, zinc CoQ10, etc. And because it is 100% grass fed and natural, your body is able to absorb these nutrients far better than taking any other synthetic multivitamin or any other synthetic vitamin in general. So we have some other amazing products, but if you'd like to check us out, you can go to sacredhumanhealth.com and cheers to your health.
Stephen K. Bannon
700,000Americans every year. Yes, heart disease is the number one killer every year, year in and year out. Heart disease builds over time. Hypertension, high blood pressure, bad cholesterol, diabetes, all of it affects our heart. A healthy heart is key to being energetic as we get older. It is never too early to take care of your heart. You see, heart disease sneaks up on us. You can start in your 30s and when this happens, you're at serious risk by the time you turn 60. If you want to take care of your heart and those you care about, please go to war roomhealth.com that's war room health.com all one word war roomhealth.com use the code war room at checkout to save 67% off of your first shipment. That's code war room at checkout to save sixty seven percent and do it again. War room health all one word war roomhealth dot com go there today. You need if you're going to be part of the posse, you need a strong heart. You need a lion's heart. How we're going to do that is with salty. Go there. Do it today. Check it out.
Bannon’s War Room: Episode 4327 - Start Of The Return To Normalcy As Market Tumbles
Release Date: March 11, 2025
Host: Stephen K. Bannon
Description: In this episode, Stephen K. Bannon delves into the turbulent economic landscape, dissecting the factors contributing to the recent market meltdown. He engages with medical experts, politicians, business leaders, and frontline responders to provide a comprehensive analysis of the current economic crises, policy decisions, and their broader implications.
Stephen K. Bannon opened the episode by addressing the significant market downturn, highlighting that approximately $1.5 trillion has been wiped off the U.S. equity exchanges. He emphasized the volatility in the markets, attributing it to inconsistent messaging from the White House regarding tariffs.
"What happened today was a market meltdown. I think we wiped off of the equity exchanges here in the United States. $1.5 trillion."
— Stephen K. Bannon [00:00]
E.J. Antony and Natalie Winters discussed the perceived weaknesses within the current economic cabinet. They scrutinized figures like Howard Lutnick, Scott Besson, and Kevin Hassett, questioning their effectiveness and consistency in implementing tariff policies.
"Howard Lutnick is the biggest cheerleader Donald Trump could find during the Cabinet meetings."
— Natalie Winters [01:46]
Natalie Winters further criticized Scott Besson's approach to tariffs, noting a departure from his initial stance on needing a "precision, tactical tariff policy".
"We have seen everything but a precision, tactical approach to tariffs."
— Natalie Winters [03:27]
Bannon highlighted the alarming rise in inflation rates from 2.2% to 4.2%, underscoring the exacerbating effects of record budget deficits nearing $1 trillion.
"Number one, we had the largest budget deficits every month historically in the history of the country."
— Stephen K. Bannon [08:53]
He connected these fiscal issues to Keynesian stimulus measures, suggesting they are driving inflation and contributing to the $900 billion to $1 trillion deficit.
The discussion pivoted to President Trump's tariff strategies, linking them to broader economic outcomes. Bannon argued that tariffs are not only addressing the fentanyl crisis but also aimed at reducing the trade deficit by discouraging imports from China, Mexico, and Canada.
"President Trump's tariffs are already working as more and more companies are looking at expanding their presence or setting up shop in the United States."
— Dr. Peter Navarro [38:03]
Charlie Kirk introduced the concept of stagflation, warning of a combination of rising inflation and economic contraction reminiscent of the Carter administration era.
"Stagflation, where we have inflation, you have inflation marked on the march... is a political poison."
— Charlie Kirk [09:41]
A significant segment featured Kevin Posobiec reporting from BLM Plaza, discussing the destruction and planned renaming to Liberty Plaza. This transformation was portrayed as a victory against cultural Marxism and radical elements within Washington D.C.
"This right here, this goes to the heart of the radical Marxists and Neo Marxists that run Washington, D.C."
— Stephen K. Bannon [22:22]
Kevin Posobiec elaborated on the physical changes and the symbolic dismantling of BLM as a statement against Marxist ideologies.
"They want the mayor to step down whenever there's any kind of riot or protesting just so they could succeed."
— Kevin Posobiec [20:37]
Bannon critiqued mainstream media outlets like MSNBC and CNN for portraying an inaccurately positive economy, which he argues is misleading the public about the true state of economic affairs.
"Why? Because why? Because the interest. The interest rate went from the inflation rate went from 2.2 to 4.2%. It's a dumpster fire."
— Stephen K. Bannon [32:56]
He stressed the necessity for consistent and transparent communication from the White House to counteract misleading narratives.
A pivotal moment in the episode involved Dr. Peter Navarro unveiling an investigation into ActBlue, a prominent fundraising platform for Democrats. Navarro accused ActBlue of financing numerous NGOs that facilitate illegal immigration and support open borders agendas.
"ActBlue is responsible for funding these organizations."
— Dr. Peter Navarro [46:04]
Navarro enumerated various organizations linked to ActBlue, such as Border Angels, Catholic Charities, and Immigrant Alliance for Justice and Equity of Minnesota, asserting that these groups contribute to the "full scale invasion" of the United States.
"These groups use ActBlue for fundraising... it's what those really radical groups are doing."
— Dr. Peter Navarro [49:45]
In his closing statements, Bannon underscored the severity of the current economic predicament and the urgent need for President Trump's economic strategies to stabilize the market. He called for massive federal spending cuts and tax reforms to address the burgeoning deficits and restore economic normalcy.
"We're in the CR and I understand this audience ain't happy... We're in a jam."
— Stephen K. Bannon [32:56]
Bannon concluded by reaffirming his commitment to executing the economic plan and inviting listeners to stay engaged as the administration navigates the economic challenges ahead.
"What happened today was a market meltdown. I think we wiped off of the equity exchanges here in the United States. $1.5 trillion."
— Stephen K. Bannon [00:00]
"Howard Lutnick is the biggest cheerleader Donald Trump could find during the Cabinet meetings."
— Natalie Winters [01:46]
"Number one, we had the largest budget deficits every month historically in the history of the country."
— Stephen K. Bannon [08:53]
"President Trump's tariffs are already working as more and more companies are looking at expanding their presence or setting up shop in the United States."
— Dr. Peter Navarro [38:03]
"This right here, this goes to the heart of the radical Marxists and Neo Marxists that run Washington, D.C."
— Stephen K. Bannon [22:22]
"ActBlue is responsible for funding these organizations."
— Dr. Peter Navarro [46:04]
Economic Instability: The U.S. markets are experiencing significant turbulence due to inconsistent economic policies, rising inflation, and unprecedented budget deficits.
Tariff Policies: President Trump's administration is actively using tariffs to combat trade deficits and discourage imports from adversarial nations, though this approach has led to market instability.
Political Critique: The current economic cabinet is under scrutiny for its handling of economic policies, with critics pointing out a lack of consistency and effectiveness.
Social Unrest: Efforts to dismantle symbols of social movements like BLM reflect broader cultural and political battles within the nation.
Media Manipulation: There is a strong sentiment that mainstream media outlets misrepresent the economic reality, necessitating clear and honest communication from leadership.
ActBlue Controversy: Investigation into ActBlue reveals potential misuse of funds to support organizations that may be facilitating illegal immigration, raising concerns about the Democratic Party's stance on border control.
Future Strategies: The administration is focused on implementing supply-side tax cuts, reducing federal spending, and restructuring tariffs to stabilize the economy and restore growth.
Note: This summary intentionally omits advertisements and non-content segments to focus solely on the substantive discussions and analyses presented during the episode.