Steve Bannon discusses with Jason Trennert the Left using global markets to resist President Trump. 12/3/24
War Room founder Steve Bannon discussed with CEO of Stategas Jason Trennert on Tuesday the left’s use of global markets in an attempt to resist President Trump.
The video opens with the ramblings of MSNBC and their typical biased commentaries.
“MSNBC today has another opinion piece how the bond vigilantes are gonna come and discipline Trump both on Tariffs, on mass deportations, on Elon and Vivek,” Bannon said.
“President Trump on the other hand has laid out a pretty rational plan of what to do here, but it’s being misinterpreted overall,” Bannon continued.
“The resistance is breaking down everywhere as President Trump gets ready to go on January 20th that they are gonna try to use the global capital markets that’s what is gonna discipline Trump,” Bannon said.
“Well, listen, I don’t think its gonna work because the US has the world’s reserve currency,” Trennert said.
“I can tell you what’s being talked about in terms of DOGE in terms of Vivek and Elon is unlike anything I have seen in the past 50 years, so the whole idea you are gonna cut government spending is really almost unheard of in the industrialized world,” Trennert continued.
“The reserve currency gives us a lot of flexibility to do things that other countries don’t have,” Trennert continued.
Trennert also said budget deficits are a threat to the value of the dollar.
“To me the most dangerous thing for the dollar is continuing to run budget deficits that are six to seven percent of GDP at full employment. That is very dangerous,” Trennert warned.
“This has been a smoke and mirrors economy for the last couple of years,” Trennert continued.
Bannon explained that the economy is over-everaged and said that as important as it is to dismantle the deep state, it is also important to cut spending.
“We are totally over-leveraged, and we are about to and this is what Trump can get you ahead of is to get you ahead of a global margin call by putting in rational plan of hey, we have to not just take down the deep state and the administrative state, but we have to at the same time, with that cut this massive spending,” Bannon warned.
Watch:
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