THE WAR ROOM WITH STEPHEN K. BANNON EPISODE 5006

Summary

THE WAR ROOM WITH STEPHEN K. BANNON EPISODE 5006

Date: December 18, 2025
Platform: Real America’s Voice / iHeartPodcasts

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Overview of the Episode

This episode of The War Room centers on a mid-term “halftime report” for the Trump administration’s return to power, focusing heavily on the economic turnaround narrative, the administration’s use of tariffs, cultural unrest on America’s campuses, and perceived threats from both domestic opposition and foreign actors. Through conversations with recurring guests such as E.J. Antoni, Matt Boyle, Jack Posobiec, and Dr. Peter Navarro, host Steve Bannon frames 2025 as a year of both growing strength for the MAGA movement and increasing antagonism from the political left and institutional elites.

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Key Discussion Points and Insights

1. Economic Turnaround and Inflation Data

Segments: [10:08–17:14], [23:39–26:33], [46:01–54:06]
Key Speakers: Steve Bannon, E.J. Antoni, Matt Boyle, Peter Navarro

• Positive Economic News:

  • Newly released CPI data shows inflation is “cooling” – a 2.7% annual rate, described by Bannon and contributors as proof Trump's policies are working (“Earnings have risen about 1.6% above inflation.” – E.J. Antoni, [10:47]).
  • Wage gains for “native-born Americans” are spotlighted as further evidence of policy success, with affordability finally improving after the “damage from the Biden years.”

• Political Framing:

  • Hosts assert that mainstream media and academic critics have been left “gobsmacked” by economic recovery (Bannon: “That word [affordability] did not cross their lips, E.J. Why was that, sir?” [10:05]).
  • Emphasis on capital expenditure incentives, tax refunds, and the impact of tariffs—specifically, the “1776 bonus” for U.S. troops funded by tariff revenue, viewed as both symbolic and practical alignment with American working- and middle-class interests.

• Quote Highlight:

  • Steve Bannon: “This is the primal scream of a dying regime. Pray for our enemies because we’re going medieval on these people.” [07:55]
  • Peter Navarro: “Democrats cause inflation, Trump cures it.” [52:56]

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2. Culture War and Domestic Security

Segments: [03:39–07:06], [27:11–31:27], [36:50–44:16]

• Concerns About Internal Security and Social Unrest:

  • Bannon and guests voice alarm over rising social tension—specifically protests and violence interpreted as a leftist “destabilization force,” including an extended diatribe against “Muslim imams” and “global intifada” (Rush Truck Centers Announcer, [04:11–07:06]).
  • Recent activist disruption of a Trump administration Treasury Secretary dinner by Code Pink protesters is framed as evidence of the “unhinged and desperate” state of the Democratic opposition, paralleling past agitation against conservative officials.

• Republican Establishment Skepticism:

  • Matt Boyle suggests “old guard” GOP figures like George W. Bush and Paul Ryan are still maneuvering for influence and diluting the MAGA agenda (“Paul Ryan infection” [32:18]).

• Notable Rhetoric:

  • Repeated endorsement for mass deportations, border enforcement, and “military all over these cartels.”
  • “We need some magabiotics to wipe out that Paul Ryan infection.” – Matt Boyle [32:38]

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3. Campus Violence and Calls for Federal Intervention

Segments: [34:01–44:16]

• Assassinations and Security Concerns:

  • Intense focus on the murders of conservative activists (Charlie Kirk and, more recently, Ella Cook), both occurring on college campuses. Guests assert these crimes reflect a dangerous “chilling effect” on the right, tying them to left-wing protest activity and university negligence.
  • Specific outrage at leadership of Brown University, with calls for FBI and Congressional investigations into campus security failures and potential deliberate disabling of surveillance systems.

• Parental and Community Impact:

  • Jack Posobiec stresses increased security measures for Turning Point USA and expresses parental anxiety over the safety of students with conservative values.
  • Bannon: “That woman [Ella Cook] was in the middle of a nest of frickin’ vipers. And we owe it to her and her memory to get to the bottom of this today. No more delays. The FBI…step in and take this thing over.” [44:35]

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4. Tariffs, Trade Policy, and Populist Action Plan

Segments: [48:01–54:06]

• Tariffs as Policy Centerpiece:

  • Peter Navarro “the architect under President Trump of these tariffs,” details how tariff revenues (“trillions”) not only shore up U.S. finances but directly fund worker and military benefits (“1776 bonus”).
  • Tariffs, energy independence, deregulation, and deportation of illegal immigrants presented as synergistic parts of the economic plan.

• Housing and Labor:

  • Navarro links housing cost increases directly to illegal immigration (“One million illegals is 1% increase in housing costs.” [48:36]).

• Healthcare Reform:

  • Critique of Obamacare: “Every time we throw more money at Obamacare, … all it does is drive up the cost… and they take the money, not us… Democrats cause inflation, Trump cures it.” [52:56]

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Notable Quotes and Moments with Timestamps

• Steve Bannon on Economic Recovery:
  “Guess what? Suck on this. Inflation is cooling. God, do I wish he had that speech tonight instead of last night with this inflation number.” [09:08]

• E.J. Antoni on Wage Growth:
  “What we’re seeing is earnings growth that is outpacing inflation so far since January… earnings have risen about 1.6% above inflation.” [10:47]

• Matt Boyle on Opposition Rhetoric:
  “The [Code Pink] people who speak for the Democrat Party at this point do not feel like a party or a movement that is actually winning. So they can keep trying to tell themselves this, but are they actually winning?” [29:22]

• Jack Posobiec on Campus Shootings:
  “We are talking about two murders of conservative activists which took place on campus within a couple of months of each other. Am I saying they’re connected? No, I am saying that there are certain elements that establish a pattern here.” [38:25]

• Peter Navarro on Tariffs:
  “We literally are taking in hundreds of billions of dollars. It’s going to be trillions… Trump’s trade policy… really is going to be the key to fiscal stability in this country.” [48:36]

• Steve Bannon on Messaging:
  “This is the primal scream of a dying regime. Pray for our enemies because we’re going medieval on these people.” [07:55]

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Timestamps for Key Segments

• Economic Discussion/Inflation Data:

  • [10:08–12:11] E.J. Antoni: Wage growth, inflation, impact of tax law
  • [15:15–17:14] Matt Boyle: Analysis of Trump’s economic speech and Democratic narratives

• Tariffs and Action Plan:

  • [48:01–54:06] Peter Navarro details future steps, tariffs, and “1776 bonus”

• Code Pink Disruption & Security:

  • [27:11–32:57] Footage/analysis of the restaurant incident + left vs. right movement dynamic

• Campus Violence/Turning Point USA:

  • [34:01–44:16] Jack Posobiec and Bannon on the Ella Cook and Charlie Kirk murders, calls for federal investigation

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Additional Noteworthy Themes

• Recurring Messaging:

  • “Democrats cause inflation, Trump cures it.” (Peter Navarro [52:56])
  • Praise for Scott Bessant’s economic intelligence and planning (“In Bessant we trust.” – Matt Boyle [15:49])

• Media Critique:

  • Multiple jabs at CNBC, CNN, and the “establishment media” for their response to changing economic indicators and failure to credit Trump

• Institutional Distrust:

  • Ongoing distrust of both higher education and federal agencies unless realigned with MAGA priorities

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Closing Thoughts and Climate

The episode’s tone is combative, victory-claiming, and alarmist regarding perceived threats. The hosts and guests repeatedly call for increased populist and nationalist measures, doubling down on border, trade, and cultural policies. Security—both economic and physical for movement members and leaders—is foregrounded as paramount, with strong calls to action and warnings against both left and establishment Republican resistance.

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For further analysis and contributor content, follow:

• E.J. Antoni: @ejantony on X [15:09]
• Matt Boyle: @mboyle1 on X, Ealmapoil on Truth Social, breitbart.com [33:08]
• Jack Posobiec: Human Events Daily, on X [44:58]
• Peter Navarro: peternavarro.com, @RealPNavarro on X [54:06]

---

Episode available on Real America’s Voice and iHeartPodcasts platforms.

Transcript

[Steve Bannon]

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[Steve Bannon]

Administration for over and over again for the economy that how the economy is today from your perspective, when is it, when does it truly become.

[Matt Boyle]

Cause and effect of Donald Trump on the economy?

[Steve Bannon]

Is it still is there any, is there does he have any footing to still blame Joe Biden for what American people are facing with the economy right now?

[Stephen K. Bannon (Host)]

Ken I mean less and less. We're almost a year in so yeah that's the playbook to blame, you know, whoever was in office when he got there. But I mean now it's this tariffs, the uncertainty, immigration being cut back, the illegal immigration yes, but illegal immigration also. I mean I think a lot of these things will hurt over the longer run and he's sort of counting on animal spirits AI something to compensate. I'm not sure that's going to happen. I think the downsides ahead the number.

[Rush Truck Centers Announcer]

Of the morning the CPI oh maybe coming in a little bit better than expected. 2.7% a little light here. I'm not calling, I'm just reading the headlines here. Year over year to 7ex food and energy core to 6 so 410 off. That is a very good number here and it really I have not looked at the internals. I'll look at them now but it suggests that the internals are good as well. Let's see year over year over the last 12 months. There is no month to month but some guys will be able to calculate seasonally adjusted index for all items as food energy rose 0.2% over the two months. So if correct my math here Michael Santoli but 0.2 divided by 2 is 0.1 yeah, so therefore that's a very, very low monthly rate here. The index for shelter increase. So you did get a really nice decline in, in shelter which was.02. So that was 0.1 per month. For those that don't know, haven't read the Quran, it's a playbook of how he took over Medina and then the rest is, you know what Saudi Arabia today and then 100 years after his death they had the whole Middle East. And he explains how you come in, you lie, you say you're a friend, then you have your people start stabbing and killing people. Once you're up to about 10% that drives you out of the town, you take over the town. We have thousands of imams now saying we're taking over. You're all dead. Because they've gone to the global intifada, they've gone to the jihad and multiple acid attacks and all these people getting shot and killed and them covering up. My wife, I told you a few weeks ago, went to this grocery store like 9:30 at night, she's like hey, kids are asleep, I forgot something, I'm going to store. I'm like yeah, great, I'm going to bed because I have a 3am next morning. She's like, I'm really upset. A Muslim in a beekeeper suit, you know the nightgowns they wear, comes and screams at her and says you shouldn't be on the street at night. You're a woman, somebody could do something to you. And was like screaming at her. She closes the door. So to me that's the red line. And then like I said, I took my 8 year old daughter a few days later on, on a, on on an amphibious duck tour around downtown. The lake hadn't done that like 10 years of other kids. And I get on the bus on the, the amphibious boat, World War II boat people. It's like, you know, Duck Adventures Lost Texas. And it's literally all Muslims. I mean they're just everywhere. And so my point is, is that this is and they're ally with the left. They are used for a destabilization force. And Trump just needs to point this out. Cause here's the deal, we're like, oh yeah, there's a lot of Muslims why they might attack because the Imams have given the J thousands of clips all over the world saying this is the global intifada, this is when they're ready to make their move. That's why Hamas did all this. This is a global. They think they have enough numbers in Europe the uk, Australia, New Zealand, Canada, they are now saying we are now going on offense. They have put out their black flags of no surrender. They are coming to literally come after us. And this has just begun.

[Stephen K. Bannon (Host)]

Alex, social media where do people go to get your show? They're trying to shut you down all the time. Our audience loves you. It was a magnificent presentation tonight. Where do folks go?

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We're still battling in court. By the grace of God, we're still here at M4S, but regardless, real auction's on X the auction channel on rumble. Infowars.com show and we're here fighting as hard as ever. Thank you so much, Steve, man. And thank you to everybody. And I would say to Trump is no, you weren't too hardcore. You weren't hardcore enough. Cry havoc. Let loose the dogs of information war. Tell the people, conscript them directly. Ask them to join you directly and say, I need you. Because Trump's strong. He always like, you know, I can do it. Just no, he has to call on us. Any great leader has to. Trump, call on the people and we will have victory.

[Stephen K. Bannon (Host)]

This is the primal scream of a dying regime. Pray for our enemies because we're going.

[Jack Posobiec]

Medieval on these people.

[Stephen K. Bannon (Host)]

Not got a free shot. 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.

[Peter Navarro]

It's going to happen.

[Jack Posobiec]

And where do people like that go.

[Peter Navarro]

To share the big lie?

[Stephen K. Bannon (Host)]

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 saved.

[Jack Posobiec]

War room he was your host. Stephen K. Ban.

[Stephen K. Bannon (Host)]

Thursday the 18th of December, year of our Lord 2025. Want to thank everybody associated with letting us go and do the analysis. Last night after the President's address to the nation, went to about 11 o', clock, packed, had just great participation. Really want to thank Alex Jones. You just saw Alex right there. Cry havoc and unleash the dogs of information war. Could have been better. I mean, just incredible, incredible participation. Last night off the President's, how do I say this? He came in a little hot, right, which we love here in the war room. And guess what? Suck on this. Inflation is cooling. God, do I wish he had that speech tonight instead of last night with this inflation number. E.J. antonio okay, we got talk about cry havoc and unleash the dogs of information war. We have Matt Boyle, we have Jack posobec, we have Dr. Peter Navarro, Garland Favorito from Georgia about Fani Willis. But we're going to start with the great E.J. antoni. E.J. lay it out for me. You saw between Harvard professors and the crew over at Squawk Box, there were a kind of face plants this morning where they were all set to just be jumping on Trump. This inflation's out of control. Affordability, Affordability. Affordability. That word did not cross their lips, E.J. why was that, sir?

[E.J. Antoni]

Well, Steve, thanks for having me back. I would say they weren't using that word because today it's not politically profitable for them to do so. Look, the data just doesn't, doesn't fit their narrative anymore. Things are, in fact getting better. And I think the most telling piece of data that, that really clues us in on that is the fact that if we look at, let's take into account both prices, but also people's earnings. In other words, what can your weekly paycheck buy compared to say, January when Trump took office and then let's say January of 2021, when Biden took office. What we saw under Biden was the average American's inflation adjusted weekly paycheck falling 4%. Again, that means that you can buy 4% less with your paycheck. So, yes, it's true. Under Biden, paychecks got much, much bigger, people were paid more, but prices rose a lot faster than that earnings growth. So that's why we got an affordability crisis. That's why we had a cost of living crisis. It's because price much faster than wages. But this year, Trump has completely flipped that script. And now what we're seeing is earnings growth that is outpacing inflation so far since January. Now with today's data, we see that earnings have risen about 1.6% above inflation. So again, going back to this idea of not just that we want people's paychecks to get bigger, but we want those paychecks to actually buy more. That's exactly what we're seeing this year under Trump. So that tells us two things right off the bat, Steve. Number one, things are getting better, not worse, so there's improvement there. But number two, and I think the vice president really spoke to this in Pennsylvania earlier this week, we have not yet undone all of the damage from the Biden years. Obviously, 1.6% growth is not equal to a 4.4percent decrease. So we are making progress. But again, the reason people are Hurting today is because we haven't yet undone all of the damage from Biden. So we're heading in the right direction, but we got to keep going.

[Stephen K. Bannon (Host)]

And the benefits of the big beautiful bill, the capital expenditure, the huge write offs you can do in what I call period zero, as soon as you do it, that is all about to kick in. That is what Scott Bessant keeps saying about the end of the first quarter, the second quarter when you really start talking about growth. Because I think the Atlanta Fed the other day said we're close to 4%. Right. So you got growth, GDP growth, you've got jobs and you've got higher wages. All that's really to kick in even more than the 1.6% growth with this massive focus on returning manufacturing and high value added high paying jobs here to the United States, correct?

[E.J. Antoni]

Absolutely, Steve, I think you really hit the nail on the head there. The tax bill is going to help a lot of Americans be able to decrease their withholdings. That means they, they don't have to have as much withheld from their paychecks for taxes. So you're going to see people's take home pay go up. That's really important. You're increasing not just people's after tax income but also their after inflation income. Really, really positive news there. You're also going to see a lot of folks get a bigger than expected tax return in April 15th. So look, next year file your taxes sooner rather than later so you can get that refund sooner rather than later. But also on the business side, you're absolutely right. Full expensing is going to, is going to really be a windfall when it comes to capital growth. And the really interesting thing here with capital growth, Steve, is that it doesn't just accrue the benefits. I mean don't just accrue to capital holders, but also to labor. If you really want the wage rate to go up, the price of labor to go up, the best way to do that is actually by increasing capital expenditure. And a really quick thought experiment shows that if you're in a worker in a manufacturing plant and you're putting something together by hand, you're much less productive than if the owner of that factory hands you power tools. And now you can do 10 or 20 or 30 times as much work by doing more work and being more productive that labor can command a higher wage rate. And so the big capital investment that we've actually already seen start this year but should really kick in as you said Steve, next year I think is going to help further drive wage increases for Americans and that also is a very important point. Right. This is wage growth for Americans. What we've seen so far this year has been essentially all of the net job growth in this country going to native born Americans, foreign born workers. Their employment level is flat. It's actually down slightly. So all net job growth is in the private sector and it's going to native born Americans and their wage growth is outpacing inflation. That is all great news.

[Stephen K. Bannon (Host)]

That is all great news. E.J. antonio, where do people go to get you on social media to find up all the charts you're putting up?

[E.J. Antoni]

Best place to find me Steve is on X the handle there is eel ejantony.

[Stephen K. Bannon (Host)]

Thank you sir. Appreciate you great economic analysis on a great day for the Trump economy. Matt Boyle I wish the President the speech was dense right the war on posse but they can understand it and what we're cause we talk about this every day. But I wish the President had stepped back a little bit and try to explain like EJ And Tony try to frame exactly what he's doing economically and now how and it'd be great the morning after they 2.7 versus 3 and squawk box the haters over there are gobsmacked. Your thoughts on the speech overall sir?

[Matt Boyle]

Yeah, well look, I would call it the investment we trust address, right. Like this is what we've all been saying across the MAGA movement is that Scott Besant, who is arguably the brightest economic mind in the nation in the world has been predicting a first half economic boom next year and the president laid out exactly how he has been building towards that over the course of this year. Yes, he was very aggressive in terms of laying the blame at the feet of Joe Biden and the Democrats, but also laid out what he done and is doing to get things better for next year.

[Stephen K. Bannon (Host)]

It's part of this. Matt, you're going to hold through the break. We got about a minute here was part of that. Maybe we jumped the gun a little bit on the golden age. You got to frame it better that exactly what he inherited because he inherited we were such a deep hole and maybe we didn't take enough time early on to explain to the American people away from a campaign. But actually after you get in and walk through things, hey this is the hole we're in. We're at the digger. It's going to take us a year or two to dig ourselves out. Do you think that this last night was the kind of reversing that we're in the golden age.

[Matt Boyle]

Yeah, but I also think, you know, again, feelings and rhetoric aside, what matters is the actual numbers and we're seeing the proof out there right now that the economy is bouncing back oil.

[Stephen K. Bannon (Host)]

Hang on. We're gonna hold you through the break cry havoc and unleash the dogs of of information. You don't have a better one than Mad Bull and Jack Posobic. How about that? Back to back post is going to be up here. Dr. Navarro is going to follow. Matt we got a We're pretty packed this morning. Sam Tenenhouse we're going to continue on with the story of Bill Buckley and the revolution Birch Gold Best way to get in touch with Philip Patrick and the team Philip's going to be with us at amfest. I think he's going to co host tomorrow. Take your phone out and text Bannon B A N N O N at 989-898. You get the ultimate guide for investing in Gold and precious metals in the Age of Trump. No obligation, totally free. You can go through, see all the methodologies. Most importantly, get in touch with Philip and his team. Silver now more expensive than a barrel of oil. Think about that for a second. Reaching all time highs.

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[Steve Bannon]

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[Stephen K. Bannon (Host)]

Like I said. Check out Birch Gold today. Gold's nearing all time highs. Silver all time highs. They got a special buy $5,000 worth of gold you get, they'll throw an ounce of silver in there up to December 22nd. So go talk to them today. It's not the price, it's the process. Trust the process. They will teach you how and why gold has been a hedge. And now, because the eu, if I get Harnwell in the second half, not him tomorrow morning, the EU is now focused on stealing the Russian people's assets. Yo, Putin said you do. That's an act of war. So I don't know, maybe they, maybe they're ready to throw down hard, but this thing's going to get pretty gnarly over there. Matt Boyle, President Trump's been office now 332 days, and we have 321 days until the midterm election. So basically, this is kind of a halftime report. Give us your, give us a quick summary of how you think the halftime report played last night in broadcast tv. Not to the Warren posse, not to the Breitbart audience. They know this stuff. And most importantly, what's the second half where the action steps in. The President Trump, I think, is receiving the kick to start the second half. What do you got for us?

[Matt Boyle]

Yeah, well, it feels a lot like, you know, again, President Trump is wholesale rejecting the establishment media and Democrat narrative that, that, that he's somehow not, you know, getting the economy going and that he's somehow responsible for this. And he's speaking a different language than the people on CNBC and whatnot. But here's the problem. You see it this morning, by the way, with cnbc, when the inflation numbers come out. I mean, go watch their panel, right? Like they, they can't explain how this happened, right? Like they're a mess, right? Like, you know what it reminds me of? It reminds me of about a month after the Republican convention last year. And, you know, right in the aftermath of the Democrat convention, a month or so after President Trump was shot. Remember, the media, the establishment media is riding high. They think Kamala Harris is running away with the presidential election.

[E.J. Antoni]

Yeah.

[Matt Boyle]

And I went down to Mar a Lago with Alex Marlowe, our editor in chief here at Breitbart. And we did a joint interview with the president. And it was interesting because Mar a Lago was closed. So I've never actually been there other than this time when Mar A Lago was closed. So the only people there were the president and his campaign staff. Like the innermost sanctum of the organization. It wasn't like it is in the winter months. It was like in August or so. We're trying to talk to him about the threats of Kamala Harris and all this stuff, and he's just like, totally of the mindset that this entire thing is fake, fabricated, and made up and that Kamala Harris is going down in flames. By the way, two months later, he ends up being proven. Exactly Right, Right. So it's like this is. It feels like another time where, like, all the Democrat narrative about affordability and in their efforts to try to, you know, slam Trump with inflation in the economy, they could be hoisting themselves on their own petard here. They should be very careful. If I were the Democrats, a piece of advice to them is that if they are going to make the entire election about the economy, okay, I think that's a fight that President Trump wants to have big time. President Trump wants to have this debate. He thinks that the economy's coming back. And again, to the point I was making there before the break about how this was the Investant We Trust address. Right. Again, if Besson is right, and there's a really good chance that he is, let's be clear, right? Like, he's, again, the brightest economic mind probably in the world. If Scott Bessen is right about the economy going to boom in the first half of next year, people are going to feel that ahead of the midterm elections, and guess what? The party in power is going to do. Well, remember what Jimmy Carville said, it's the economy, stupid. Well, if it's the economy, stupid and the Democrats want to help Trump make the case that the election is about the economy, this could actually mean the Republicans could maybe even eke out a victory in November next year.

[Stephen K. Bannon (Host)]

No, no.

[Matt Boyle]

We'll see. But at halftime, I think things are looking pretty good for Trump right now.

[Stephen K. Bannon (Host)]

You got a lot of stuff that has not been done. We need more populism, more nationalism, more growth, the deep state. But I want to show some. Some disturbing footage because I got a big problem with that. Scott Besson is a contributor here for years. He's worked on this economic plan for years. You're right. It's in Besson we trust he's got a plan. President Trump is one of the architects of it, obviously, but you need some managers like Besson to oversee it. Let's do last night after the speech, very disturbing incident with the Secret Service and Code Pink. And as you remember, Code Pink was one of the biggest enemies of Andrew Breitbart. Let's go ahead and play this video. And I have Boyle make some observations.

[Steve Bannon]

We have a special guest here and.

[Stephen K. Bannon (Host)]

We want to make a toast for.

[Steve Bannon]

The Secretary of Treasury, Scott Besson. So let's give it up for the man who is eating in peace as people starve across the world based on his sanctions, which are economic warfare.

[Matt Boyle]

Of course you're gonna boo this.

[Peter Navarro]

It's the truth.

[Steve Bannon]

He ever sees the death of 600,000 people due to sanctions annually. And this president, let's cheer to the memorial doctrine. Trump today said that Venezuelan oil, and.

[Stephen K. Bannon (Host)]

You have no idea. Oil ignorant.

[Steve Bannon]

You are responsible for the death of 600,000 people annually because of sanctions. How many people are going to die because of the blood on your hands?

[Jack Posobiec]

The blood is on your hands.

[Peter Navarro]

You should be ashamed.

[E.J. Antoni]

Should not be.

[Steve Bannon]

Able to eat and pee. So we're here at a restaurant in Washington, D.C. right before Trump is about to announce the accomplishments of this administration and what's to come.

[Stephen K. Bannon (Host)]

Okay, thank you, Denver. The Secretary treasury was having a dinner. They had to get moved. I don't know if the Secret Service had done a total sweep, but once again, this was like Joe's Crab Shack when the president went, where's the Secret Service? Why don't they step in and intervene? Code Pink are a group of very dangerous individuals. They hated Andrew Breitbart. Andrew Breitbart fought with these people all the time. And Andrew Breitbart used to say about how dangerous these folks were. How can the Secretary of Treasury, which I would argue along with Stephen Miller and Marco Rubio and the secretary are really the three go to guys in this administration for the President. How do we have exposed the most important Secretary of Treasury? I don't know in the last hundred years or so, sir.

[Matt Boyle]

Well, I mean, that's a clear security failure. And so I hope that there are answers getting made there. But I would just say politically, does that sound like a party and a movement on the left that is winning?

[Steve Bannon]

Right.

[Matt Boyle]

They sound unhinged and crazy. Right. Like and desperate. So the again and the establishment media narrative, it feels a lot like at the height of Kamala Harris quote unquote campaign last year, when you Know, she was the entire establishment media, right. In the aftermath of the Democrat National Convention, they thought she was going to sweep into the White House and win all seven swing states. And maybe more than that. Obviously she lost all seven swing states and the national popular vote. But again, the fact is, is that the code pink people who speak for the Democrat Party at this point do not feel like a party or a movement that is actually winning. So they can keep trying to tell themselves this, that they're winning, but are they actually winning? I think as evidenced by that type of a moment, it feels a lot like, you know, remember we would see these instances over the last several years in the lead up to the 2024 election where they would confront Trump, Trump aligned people in public places. It never worked out for them. And so I think that if they continue to behave like this, we're going to see a very different debate and whatnot going into next year. And I think that as the economy, economic numbers continue to surge back again, you see the inflation numbers today and to your point too, about the increased economic national agenda. Right. More deportations, not less. Right. Like more border enforcement, not less. More tariffs, not less. Right. The tariff. So these 1776 bonuses that are going out to the warriors, the warrior dividends is what the President's calling them. That's because of the tariffs. Right. This costs two and a half billion dollars or something like that. But that's, that's a drop in the bucket because of the tariff revenue.

[Rush Truck Centers Announcer]

Right.

[Matt Boyle]

Like they can do all sorts of great things with the tariff revenue. So they need to just keep drilling down on this and using the America's economic leverage. That's the whole America first experiment. And it's being proven correct day in and day out here after the hole that we had to dig out of.

[Stephen K. Bannon (Host)]

Yeah. Between the Republican establishment trying to shut us down in Indianapolis on the redistricting, what's happening in the Senate because the Mitch McConnell plan is still there. Still, you know, still, you know, no filibuster, no recess appointments, no, no, you know, the blue slips are still there. All of it. You are. Because some of the hardest core, like Alex Jones and Pepe's and say we need more action on the core things. You do agree? We need, we need mass deportations. We need to make sure the borders remain sealed. Right. We need the military all over these cartels there. We can't. More tariffs. We can't, we can't be. You can't be too tough because you see what we're, we're against whether it's in Providence, Rhode island, or Savannah, Georgia, or what happened last night in D.C. and Adam Morgan, you can't get crazier than the opposition here. Correct?

[Matt Boyle]

Correct. And by the way, I would say to your point about the Republican establishment, old guard, they're still out there. They're still plotting. Right. Like, we did big stories recently about how the George W. Bush wing of the Republican Party, they're out there plotting for what comes after Trump. They're already planning it. Right. Like, and then I would say that there's still an infection in the highest levels of the Republican Party. I call it the Paul Ryan infection. Right. Like, I mean, this Paul Ryanism is still, I mean, you see it with the health care debate playing out right now, right. Like and whatnot. Right. There's still some Paul Ryan infection around. We need some magabiotics to wipe out that Paul Ryan infection.

[Jack Posobiec]

Right.

[Matt Boyle]

But this again, there's still establishment Republican types out there trying to subvert President Trump in the agenda. But the answer is double down, triple down.

[Stephen K. Bannon (Host)]

Amen from Matt Boyle. Brother, where's your social media? How do people get you over at Breitbart.

[Matt Boyle]

Yeah. @mboyle1 on X Twitter and then Ealmapoil on Truth Social and just go to breitbart.com our team's working around the block.

[Stephen K. Bannon (Host)]

Thank you, brother. Appreciate you. Another contributor, Jim Rickards. Rickards war room.com that's a landing page. You get access to strategic intelligence, which is based upon predictive analytics. Chairman of the board and CEOs throughout the world read it every month. Maybe you should too. Go check it out. Today he throws in a free book, money GPT, about artificial intelligence and fiat currency. Short break.

[Jack Posobiec]

War Room. Here's your host, Stephen K. Banner.

[Stephen K. Bannon (Host)]

Jack Posobic. It's gotten even crazier and crazy. I know. Last night, even more conversations, some federal officials talking to people. I think getting blown off. Now Fox, I think has put up footage or actually when we were told there was no, there was no access to this lecture hall or classroom or whatever you want to call it. There actually is. There were cameras. They've got photos of it now up on Fox Digital. I think I just put it up on Getter. Give us an update, sir.

[Jack Posobiec]

About the Fox Digital because they've been cracking down hard on this story on Tyler Robinson, a number of the other cases out there. And so I really, really appreciate what they've been doing. And they've come a long way just in the last couple of years. So huge shout out to those guys. And so many people that are out there digging through on the Internet, shout out to the anons, by the way, that are digging nonstop. Look, Steve, these questions are now coming up at Brown University. And what you're seeing at Brown University, which runs the city of Providence, people need to understand this. This is a DEI nightmare. You got the migrant police chief who can't even speak English. He switches over to. He switches over to Spanish half the time, and he's sitting there having conversations in Spanish. People can't understand what's going on. On. Imagine if you've got a kid that's going there, or any kid at any school, knowing that someone's there, targeting. They're running around shooting these students like Ella Cook and the others that are there, and then disappears and vanishes. They let the students go home, which means the witnesses have left, which means potentially the, the. The suspect and whatever accomplices they may have had of now, because now there's a second person of interest. They're floating around, have no idea who. Who it is, and we get a cushion. We get a question yesterday at the press conference that when I was in the White House, I didn't even see this question. Watch the press conference after, Steve, where they asked him, did you interview the students? And the police chief up there admits that he hasn't even interviewed the student victims yet, that they haven't even talked to them about what happened in the room. Haven't even got a base, the basics, the who, what, where, when, why, what was the description? Did he say? That's why they can't say when they're sitting up there, Steve. They're sitting, saying, we have no information if he said anything. We have no information on the culture. We have no information on the background. That's because you didn't do the interview. That's because you didn't do the interview. You didn't ask whether or not they said anything. This is, it's. It's horrific, Steve. Every single one of them, from President Christina Paxton on down, they all need to resign. They all need to be fired. And at this point, you even have Elise Stefanik up there saying it. And I totally back this. Congress should haul them in immediately because I guarantee that every single one of these institutions up and down the line there are getting federal funds. They need to cut that today, Jack.

[Stephen K. Bannon (Host)]

We also need. I mean, the FBI is going to be much more aggressive here in the Justice Department. This thing is such a debacle. To know yesterday after, by the way, they were asked this question before, and they kind of bobbed and weaved around it, but when they were pressed, they have. They didn't even interview the students. And I'm not sure they've actually done thorough interviews with some of the victims who were people who were actually shot. Isn't it time? And we got to find out, because parents are talking, victims are talking about Ella Cook. We need to know that, because you have 33,000 chapters or 85,000 chapters now in high schools and colleges of Turning Point after the assassination of Charlie Kirk, young conservatives are coming out more than ever. There are tens, if not hundreds of thousands of Ella Cooks out there in this country that are in relatively hostile, real hostile environments where they're showing their bravery every day by saying, I'm a conservative. These my values. I'm going to try to build an organization here. Every one of those kids is in jeopardy because these, you saw it last night with Scott Bessant. These people are just one level up from animals. They are the violence of the left, the violence of the Red Green alliance, the progressives, the neo Marxists with the jihadists is simply out of control, and they don't see any pushback. So that's why somebody's got to step in here. We need to find out about Ella Cook and parents throughout the country and other young people need to know, need to know the fact was she targeted and if she was targeted, what happened to her?

[Jack Posobiec]

Jack Bosovic Look, Steve, I'll say this. Obviously, in the wake of Charlie Kirk's murder, which occurred on campus, by the way, something that I think needs to be understood. So when we talk about these two situations, we are talking about two murders of conservative activists which took place on campus within a couple of months of each other. And am I saying they're connected? No, I am saying that there are certain elements that establish a pattern here. But I will say this Turning Point USA is taking security extremely seriously. This weekend at Amfest, I'm fly and I'll. And I'll just say this. I'm flying to Amfest today. I am taking my family to Amfest. I am taking my children there. That I do trust. The security at Amfest, it has been increased. I've seen the security plan. It's very strong. But also, also as an added precaution, I am making sure to up my personal level of security for myself, for Tanya Tay and for our children while we are there on the premises and moving around different locations, simply in the wake of the Ella Cook murder. And of course, obviously, Charlie Kirk's murder as well. There's two months much that's gone on. There's too much at stake. And look, if, if someone wants to come for me, they can come for me. But with my family, I'm not taking any chances. Steve Security absolutely has to be paramount. And Turning Point USA is taking it very, very seriously.

[E.J. Antoni]

I agree.

[Stephen K. Bannon (Host)]

Real America's Voice as well as by.

[Jack Posobiec]

The way, same thing. And I'll just say it's not just private security. There's going to be, it's there are we have security partners all the way up to and including, by the way, Federal law enforcement. J.D. vance will be there. That means we've got Secret Service, we've got elements of federal security. I don't want to get into too much of it. And as well as state and city there in Arizona and the city of Phoenix.

[Stephen K. Bannon (Host)]

No, we support Turning Point and Real America's Voice making a huge effort out there. And obviously everybody's very focused on security and people are thinking it through. But there are hundreds of thousands in this country inspired by Charlie Kirk and really driven forward now by his assassination. That are the Ella Cooks, her bravery is unbelievable. Brown University is a cesspool of neo Marxist jihadist. Okay, a cesspool. And you see those adults up there. It's a clown show. The president University, it's a prosecutor. It's a clown shows, disgusting, revolting clown show. And this shows you her bravery. And there's hundreds of thousands of kids out there. We need to know and we don't. I don't care who does it, but we need because the local authorities are not going to do it. We need the FBI or Justice Department to step in there. We need to find out if they can't find the shooter. That's a process they got to go through. They can tell us what happened in that classroom and our lecture hall and they can tell us what happened to Ella Cook. We need to know that, sir.

[Jack Posobiec]

We need to know it. We also, it's clear at this point the FBI needs to take over the investigation. And I would also add that Brown University should be part of the investigation as well because of damn negligence here. Because there's an awful lot of questions about these cameras. Why was there a surveillance gap in these parts of the buildings? Why would that gap exist? Were those cameras turned off deliberately? Did this have to do with those protests over? And Steve, remember, this is a whole narrative. Go back to spring, go back to summer of 2025. There was a whole narrative about the Palestinian protesters and these, these Arch leftist protests, and they were occupying the campuses and the deportations that were going on, student visas were being canceled. And along came all of these progressive groups saying, you need to turn the cameras off, because we don't want people to be able to identify the federal government to be able to identify a Marco Rubio to come in and Kristi Noem to come in and cancel those visas. So is it true? Is it true that those cameras were deliberately disabled? That you created your own surveillance gaps? And whether it was done for politics or not, we need to know the answer. Was this done for politics? And did you deliberately drop the security and safety of your students? We need to know the answers. And that's why there needs to be a federal investigation into Brown University and what exactly was done there? Because your students were not safe. They were not put in a position where they could be safe. Where there is a mass shooter, there is a mass active shooter who is on the run currently right now. And we need to know what happened, and we need to know why you were not keeping your students safe. And, Steve, those facts are already in evidence. All right? Those facts are already in evidence. So we need the federal investigate the federalization of the investigation into the manhunt, but we. Of this manhunt of the shooter and possible accomplices. Right, because now we see the second person of interest who. Who they're saying may be an accomplice. They're asking people to identify. It looks female to me, but, you know, we'll see. And now we need a federal investigation separately into the conduct of Brown University and this president, Christina Paxson. Did you give an order to shut down those cameras? Was there an order to shut down the cameras? If there was an order, who gave that order? All of these questions need to be answered, Steve, because, look, look. Turning Point usa. We got chapters all across the country. Club America. We got chapters all across the country. And this is what terrorism does. Terrorism creates a chilling effect. They want you to say, well, I don't want my kid.

[E.J. Antoni]

Yeah.

[Jack Posobiec]

Going to that class, going to that group. I don't want my kid going in there. Wait, they could be targeted, too. Maybe they could join Bible study. Maybe they could go do something else. But I don't want my kid targeted. That's exactly the conversation. And I say this as a parent. I get it.

[E.J. Antoni]

All right?

[Jack Posobiec]

I get it. I say this as a parent, that I know how that feels like, and I know exactly what that feels like. That's what the enemy wants you to think. And unfortunately, Steve, we Are not seeing appropriate action from the federal government being taken against it.

[Stephen K. Bannon (Host)]

That woman was in the middle of a nest of frickin vipers. Vipers. And we owe it to her and her memory to get to the bottom of this today. No more delays. The FBI. I don't know what you're doing. Step in there. I don't need to have some legal mumbo jumbo. You're the DOJ and the FBI. Step in and take this thing over. Jack Posobic. Where do people go?

[Jack Posobiec]

Look, I got a punch. The podcast is Human Events Daily. I actually catching a flight. We're going out to Phoenix, Arizona right now. America Festival. 30,000 patriots will be there. Steve. 30,000. This thing sold out within minutes. And this will be the very first AM fest. We'll be there all weekend. You'll be there as well. The war room posse will be well represented. This is the first one without Charlie. And I'll just say this. The worst thing that we could possibly do for Charlie Kirk's legacy would be to stop. Would be to quit. Would be to surrender. Charlie was never about that. Charlie was about that. The fight. And Charlie would be the very first one to say if my. If I drop the microphone, it's your job to pick it up. Every single one of you out of there and back me up. Backfill me. As you said once to me and Charlie. Steve, you said this once to me and Charlie. Next man up, Jack Vesobic.

[Stephen K. Bannon (Host)]

Thank you. We'll see out there. 30,000 patriots and Charlie Kirk gave his life for this. And we are not going to drop the ball. Thank you sir. Appreciate you.

[Jack Posobiec]

Thank you.

[Stephen K. Bannon (Host)]

Peter Navarro joins us by phone. Dr. Navarro, your assessment? First off, I was going to get your assessment of the speech but the CNBC squawk box where you normally hang out, they face planted this morning about the inflation number. Can you give me a minute on that? I'm going to hold you through the break. What about inflation, sir?

[Peter Navarro]

That was exactly what we said was happening in this country. That was a beautiful print. Steve, I don't know if you know this but if that keeps going that way, the inflation rate's going to drop to 1.2% year over year which is well below the Fed target. So you saw the stock market rally, you saw the bond market rally and this is what Trump nomics looks like. So yeah, it's too bad that print didn't come out before the President's speech last night because he could have rub that in the face of all the naysayers. Good print.

[Stephen K. Bannon (Host)]

I actually a good print. It's a great print. Peter, I know you've been tied up this morning. We're going to hold you through the break. I got a couple more questions as you. But brother, when that print came across, you should have seen Squawk. You should have seen CN cnn. They were all set right just to jump on and it was a full face plant. Dr. Peter Navarro joins us by phone. We're going to take a short commercial break break. We're going to return in a moment. We've got a lot to get through. Sam Tanenhaus is going to join us. Gabe Kaminsky is going to join us. Gabe Kaminsky got pretty pretty startling story about the Chinese Communist Party and some of these do gooder climate change, environmental groups. Who's actually doing what? Who's paying for it? Who's benefiting from all of it? Dr. Piranhavar Next Next short commercial break. Back in a moment.

[Jack Posobiec]

War Room, here's your host, Stephen K. Ban.

[Stephen K. Bannon (Host)]

Dr. Navar, I know you got a big meeting coming up. You only got a few minutes, but your tariffs are generated. You're the architect under President Trump of these tariffs. You've been fighting for this for decades, generating enough cash now to pay the troops a little bonus. Things are coming in. You know, you and Bessem have been working on this, getting capital into the country for manufacturing. Inflation's coming down. A great print today. Tell us the action plan going forward. This was the halftime report last night, 332 days in office, 321 to the midterms. Sir. Give me what the opening kickoff's going to be like on the economic side.

[Peter Navarro]

First of all, Steve, that was a stroke of genius. You bury in the lead, the chance the troops are going to get, what is it, 1776, $1776. No symbolism there whatsoever. But it speaks to the fact that this president just so admires the military in this country will always have their back. And it also speaks to the success of the tariff program because we literally are taking in hundreds of billions of dollars. It's going to be trillions. And one of the themes of the war room, which is which is so important, is to continually remind the American people, as you did, Steve, for the four years of Biden, of the fiscal cliff. I mean, they were literally driving us over a fiscal cliff. And the president's trade policy, not just defending our factories, our job jobs, making our supply chains come on home. It really is going to be the key to fiscal stability in this country. And lower interest rates. It's so synergistic. And that's what I love, Steve, about how the President thinks synergistically. The three dimensional chess aspect of how everything fits together. If you lower oil prices, the price of beef goes down, things like that. So what we are doing literally 247 is working on the various aspects on the inflation front. You've got the housing issue, which we're tackling by through deregulation, but also by getting the 20 million illegal aliens out. My fun stat there. It's really extraordinary, Steve. One million illegals is 1% increase in housing costs for the American people. 20 million is a 20% increase just from illegal immigration. So as they're stealing our jobs and driving down our wages, they're driving up our rents, housing costs and even interest rates. And it's worse than that because that's a national average. But they cluster in blue states like Chicago and New York. So you get this paradox where the Democrats, through open border policies increase rents in New York and Chicago and then people like mom dummy run on rents that are too high and somehow promise they're going to deliver us from that evil. It's like insane. So we're tackling that. We've obviously already handled the energy issue. But having said that, there's pesky little things like the fact that we don't build refineries anymore, particularly in places like California. We've got to ultimately do that to prevent problems there. We're dealing with electricity costs going up and there's going to be some, some action taken on the role of these data centers and how they contribute too much to that. If you look at, for example, the food, we got egg prices down. If you look at this great print, Steve, today's print, there's a nice little thing in there about eggs, eggs that keep going down. That's a beautiful thing. And then the health care issue, we've really got to tackle that in a way. Here's the thing, Steve. Let me give you, give the war room this little fact. It's like every time we throw more money at Obamacare, that money doesn't go to people, it goes to the middlemen who benefit from a system which essentially is an oligopoly and oligopsony, okay? So the money goes in there and all it does is drive up the cost of prescription grubs and insurance and they take the money, not us. So this whole idea is that you can spend your way out of a health care crisis. That's the Democrat stupidity. And Democrats Cause inflation, Trump cures it. Democrats cause inflation, Trump cures it. There's going to be a Navarro drinking game every time. You hear me say that over the next 10 months you get to have a shot of orange juice because I don't condone alcohol. But I mean, we're working hard, but the messaging is going to be as important as the action. Action, action. Steve. And so always a pleasure to get on the War Room and rub that print in Morning Joe's face.

[Matt Boyle]

And.

[Peter Navarro]

Becky Quick.

[Stephen K. Bannon (Host)]

It's like, no, I'd like, come on, man. Becky. I like Becky. Don't pick on. Don't pick on back. Andrew Ross Sorkin. Suck on that. Joe Kernan and Becky are my guys. Dr. Navarro, where do people go? You're putting up. So you just put up something on this Financial Times piece. Where do they go to get your writing, sir? Where they go to get your social media?

[Peter Navarro]

Peternavara.com, peternavarro.com it's the Clearinghouse, but there's some, some nice stuff. We're doing some really nice videos and threads on X. That's real P. Navarro and of course Getter and Truth Social. So have added. If you really want to stay abreast of what's going on at the White House, check out, out my stuff because I'm particularly on the economy. We're really hammering that. But keep doing what you're doing, brother. The War room rules and tip of the spirit time. Oh, one last thing, Steve. Yesterday I had to go into the executive clerk's office for some administrative purpose. That's the guy who's in charge, among other things, of all the commissions.

[Rush Truck Centers Announcer]

Right.

[Peter Navarro]

When somebody gets confirmed at the Senate for a high ranking job, how many.

[Stephen K. Bannon (Host)]

How many unfirmed commit? We got a bounce. How many unconfirmed commissions do we have, sir? How many? What's the number?

[Peter Navarro]

This is your number for the day. And you send a strong message to the U.S. senate. 207.

[Rush Truck Centers Announcer]

Wow.

[Stephen K. Bannon (Host)]

Unsafe.

[Peter Navarro]

Yeah, that's a wow. Okay. You know what that means? That's the force multiplier. You put 207 people in, running these deep state agencies, you get shit done. Yeah, you let them sit in the desk because the Senate doesn't have its act together and you get what we got.

[Stephen K. Bannon (Host)]

We got Dr. Navarro. Thank you. We're going to work on that 207. Now, Gabe Kaminsky on the other side. The Chinese Communist Party all over American energy policy. Next in the War Room.

[Steve Bannon]

This is an Iheart podcast. Guaranteed human.