Steve Bannon Breaks Down Biden’s Failing Economy – Video

In the conservative movement, there are a handful of influencers who are daily putting our country ahead of any political party.

By living in the land of patriotism these warriors have huge bullseyes on their backs placed by globalists and sold-out republicans known as RINOS.

Instead of being intimidated, they have worked tirelessly in building large and politically active loyal fan bases consisting of millions of Americans also fighting for liberty.

One of them is Steve Bannon, who served as the White House’s chief strategist for U.S. President Donald Trump during the first seven months of Trump’s term.

Even though Bannon is dealing with bogus legal charges brought by a Soros-funded DA in New York City, he fights on.

On Thursday, Bannon responded to the September inflation rate that came in hotter than expected on Thursday at 8.2%.

The core consumer price index, which excludes food and energy, increased 6.6% from a year ago, the highest level since 1982, Labor Department data showed.

Investors and money managers reacted negatively to the news, leading stocks to plunge 500 points.

In addition to higher prices for good services, real wages have declined for a record 18 months, a double whammy for middle and low-wage earners.

During his show called The War Room, Steve Bannon discussed the devastating economic news.

Steve Bannon: This is signal, not noise. This sets the framework for so much that you want to try to accomplish your life, your ability to have that time spiritually, the things that you want to do, to develop yourself, it’s all within an economic framework. And the harder times are, the harder it is just to get by. And particularly people have saved up so much and being able to now enjoy the benefits of it, it gets to be horrific. So here’s what it is, what we’re hurtling towards and we’ve talked about this is a credit crisis, not about stocks dropping, it’s not about that’s all coming. But there’s something bigger. There’s a credit crisis and not just credit of corporations. Cortez did an amazing job of talking about investment grade bonds. That’s the best companies in the world. It’s all money good. You buy that and you clip the coupons right. You get the returns right? And they’re never huge because you’re buying a quality credit. What are those now, 20, 30%? You’re getting wiped out in that. The crisis we’re talking about is a sovereign debt crisis. We’re talking about governments, we’re talking about governments that have had this thing called fiscal domination.

That means the political class spends it, spends and spends and the central banks just print the money. They just print the money, continue to print the money. OK? That game is coming to an end. It’s coming to an end. We’ve warned about this and now you see it’s going to come to an end. And the carnage around that, you know what Steve, what Rick Santelli calls structural issues, structural issues are going to be massive in any bankruptcy. And this is what we’re looking at. A prepackaged bankruptcy. A prepack in a bankruptcy you have a creditors committee, right? The creditors committee kind of makes the decision. It’s no longer the management team, it’s no longer the shareholders because you’re senior in the capitalisation table. The debt comes first and then the equity. So when you have a crisis, a prepack or bankruptcy, the creditors take over the accounts, payable guys and the junk bonds and the senior bank debt that all forms a committee and everyone gets a say. So every gets a seat at the table and they just kind of determine what’s going on. Our country is bankrupt. It’s bankrupt. It’s just absolutely bankrupt and it’s a business model that doesn’t work.

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