♪♪
STEVE: THAT EVENING AND WELCOME
TO THE NEXT REVOLUTION BUT I
MISS STEVE HILTON AND THIS IS
THE HOME OF PUBLIC POSITIVE
POPULISM AND MOST DEFINITELY WE
ARE PRO- AMERICA.
PRESIDENT TRUMP WITH THE
ECONOMIC CASE FOR HIS REELECTION
IN CLASSIC STYLE THE OTHER
NIGHT.
PRESIDENT TRUMP: YOU HAVE NO
CHOICE BUT TO VOTE FOR ME
BECAUSE YOUR 401K'S ARE DOWN THE
TUBES IN EVERY WILL BE DOWN THE
TUBES.
SO, WHETHER YOU LOVE ME OR HATE
ME YOU GOT TO VOTE FOR ME.
STEVE: BUT ACCORDING TO THE
PEOPLE WHO DO HATE THE PRESIDENT
IT'S ALL GOING DOWN THE TUBES
NOW.
>> TRUMP WAKING UP TO A TRAINING
# HE WAS LIKELY DESPERATE TO
CHANGE.
# TRUMP RECESSION.
IT CAME ALONGSIDE HEADLINES 40
THE ECONOMY IS IN DISTRESS AND
MAYBE EVEN HEADED FOR A
NOSEDIVE.
TRUMP'S OWN AIDS AND IT COULD
SPELL POLITICAL DISASTER FOR THE
PRESIDENT AND COULD POSE THE
GREATEST THREAT YET TO HIS
REELECTION PROCESS.
>> I CALL THIS ANOTHER TRUMP A
SLUMP.
>> GIANT DARK CLOUD HAS TAKEN
ITS NEW PLACE ON THE HORIZON AS
POTENTIAL BIG TROUBLE FOR THE
TRUMP ECONOMY.
>> THE THREAT OF RECESSION IS
REAL.
>> IS A GLOBAL ECONOMY INCLUDING
THE UNITED STATES IS TAKING A
STEP TO THE RECESSION AND WHAT
DOES THAT MEAN FOR THE
PRESIDENCY.
>> IS POLITICAL SUICIDE.
STEVE: IT'S PRETTY OBVIOUS THAT
THESE ESTABLISHMENT TRUMP 18
HYSTERICS ALREADY COMFORTABLE,
COASTAL LIVES WANT A RECESSION
BECAUSE THEY THINK THAT'S THE
BEST WAY TO GET RID OF TRUMP.
A LEAST ONE OF THEM IS HONEST.
>> I'VE BEEN SAYING FOR ABOUT
TWO YEARS I HOPE WE HAVE A
RECESSION AND PEOPLE GET MAD AT
ME.
STEVE: YEAH, I WONDER WHY.
BILL, IN RECESSION REAL PEOPLE
WORKING AMERICANS GET HURT, NOT
YOU AND YOUR RICH FRIENDS IN THE
ESTABLISHMENT STATE MEDIA THAT
WOULD BE REPORTING ON RECESSION
NOT LIVING IT.
WE SAW ALL THIS TALK OF
RECESSION LAST WEEK NOT BECAUSE
OF ANYTHING THAT HAPPENED IN THE
REAL ECONOMY BUT BECAUSE OF THE
FAKE ECONOMY, THE ONE CONJURED
UP BY PANICKY IDIOTS AND
ALGORITHMS ON WALL STREET.
IN CASE YOU NEVER MET ANY OF
THESE FINANCIAL WHIZ KIDS LET ME
TELL YOU WHO WE ARE DEALING WITH
HERE.
THESE WALL STREET TYPES ARE NOT
EXACTLY THE KIND OF PEOPLE YOU
WANT YOUR CHILDREN TURNING INTO.
THEY ARE NOT VERY SMART AND NOT
THOUGHTFUL OR KIND BUT OFTEN
POORLY EDUCATED AND MOSTLY
IGNORANT AND ALWAYS
SELF-INTERESTED AND GREEDY.
THIS WEEK THEY GOT THE WHOLE
WORLD IN A PANIC FOR NO GOOD
REASON THANKS A LOT, GUYS.
AND THEY ARE MOSTLY GUYS.
TO HEAR A RUMOR, MASSIVELY
OVERACT TO A SINGLE PIECE OF
DATA, PUSH BUTTONS AND FOLLOW
EACH OTHER LIKE DEMENTED SHEEP.
THE WORST THING IS THERE PANICKY
IT IS HE CAN HAVE REAL-WORLD
EFFECTS.
IN THE END, THE ECONOMY IS NOT
SOME ABSTRACT THING BUT A HUMAN
THING, COLLECTIVE RESULT OF
COUNTLESS HUMAN DECISIONS.
SHOULD I BUY THAT NEW PIECE OF
FURNITURE?
SHOULD I HIRE THE EXTRA WORKER?
ALL OF THESE HUMAN DECISIONS
BOIL DOWN TO CONFIDENCE ABOUT
THEIR FUTURE.
TO HAVE THE WALL STREET IT IS
DATE COULD CAUSE A RECESSION
JUST BY GOING ON ABOUT IT.
THIS WAS THE SMARTER THING WE
HEARD LAST WEEK ON THE WHOLE
TOPIC IS THE CEO OF BANK OF
AMERICA SOMEONE WHO KNOWS WHAT
HE'S TALKING ABOUT BLAMED
INTERNATIONAL FACTORS FOR THE
TURMOIL OF THE FINANCIAL MARKETS
AND POINT OUT BASIC FACTS OF THE
REAL ECONOMY.
QUOTE, AVERAGE WORKER IS
WORKING, GETTING PAID MORE AND
THAT WILL TRULY INTO GOOD CREDIT
PERFORMANCE ON THE CONSUMER SIDE
BUT THE REAL RISK FOR THE U.S.
ECONOMY IS IF THE CONSUMERS SLOW
DOWN.
LISTEN TO THIS, THE MOST
IMPORTANT POINT HE MADE.
>> WE HAVE NOTHING TO FEAR ABOUT
A RECESSION EXCEPT FOR THE FEAR
OF RECESSION.
STEVE: THAT IS EXACTLY RIGHT.
WE MUST NOT LET THE PANICKY WALL
STREET ROYALTY LIVING IN THE
TRUMP HATING ESTABLISHMENT MEDIA
TALK US INTO A RECESSION.
KEEP THE FOCUS ON THE REAL
ECONOMY, NOT THE FAKE ECONOMY.
CONSUMER SPENDING IS TWO THIRDS
OF THE REAL ECONOMY AND IN JULY
IT DID NOT GO DOWN BUT IT WENT
UP.
AS "THE WALL STREET JOURNAL"
NOTED ON FRIDAY THERE WERE ABOUT
TO REPORT THE STRONGEST RATING
THE SMART IS A POSITIVE SIGNAL
OF U.S. ECONOMY.
IN THE REAL ECONOMY THE BIGGEST
REAL TAYLOR, WALMART, MADE A
SALES WERE DOWN BUT UP.
IT REVISED ITS PROFIT FORECAST,
NOT DOWN BUT UP.
TESTING FOR MACROECONOMIC
ADVISERS REVISED ITS ECONOMIC
GROWTH PROJECTIONS, NO, NOT DOWN
BUT UP.
THE ATLANTA FED REVISED ITS
ECONOMIC GROWTH PROJECTIONS
AGAIN, NOT DOWN BUT UP.
IN THE REAL ECONOMY, TRUMP
ADMINISTRATION, PRO ENTERPRISE
AGENDA IS WORKING FOR LOWER
TAXES AND LESS REGULATION A
BUSINESSES THE CONFIDENCE TO
INVEST AND THAT MEANS MORE
INNOVATION AND HIGHER WORKER
PRODUCTIVITY WHICH MEANS MORE
JOBS ARE CREATED AND WORKERS
HAVE PAID MORE BECAUSE THE
PRODUCING MORE.
THE LATEST JOB SUPPORT FOR
154,000 JOBS BACK IN JULY
BRINGING THE LABOR FORCE TO
163.4 MILLION, RECORD HIGH.
PRESIDENT TRUMP WE GOT LOWEST ON
A PERMIT IN 50 YEARS THE MOST ON
RECORD FOR AFRICAN-AMERICAN AND
HISPANIC WORKERS AND JUST
PUBLISHED THE LOWEST SUMMER USE
OF EMPLOYMENT FOR 53 YEARS.
THE LOWEST SINCE 1966.
ON WORKER'S PAY, NEW DATA SHOWED
EARNINGS ROSE 4.5% IN 2017 AND
5% IN 2018, EVEN HIGHER THAN
PREVIOUSLY REPORTED IN FILES
AHEAD OF INFLATION.
WHILE THE TRUMP HATERS PRAY FOR
A RECESSION AND WALL STREET
PLAYS AROUND WITH THE FAKE
ECONOMY THE REAL ECONOMY IS
BOOMING.
IS EVERYTHING FINE AND DANDY
WITH NOTHING TO WORRY ABOUT?
CAN PRESIDENT TRUMP AND HIS TEAM
RIGHT THE WAVE TO HIS ELECTION
NEXT YEAR CONNECT NO, NOT AT
ALL.
THE REST OF THE WORLD IS DOING
POORLY.
CHINA, GERMANY, UK, ECONOMIES
ARE ALL HEADING IN THE WRONG
DIRECTION.
WHAT SHOULD PRESIDENT TRUMP DO
TO KEEP OUR ECONOMY MOVING AHEAD
AND IT'S NO USE YELLING AT THE
FED BECAUSE THEY'RE IN IT FOR
WHAT THEY CAN DO BUT THERE ARE
TWO BIG THINGS THE PRESIDENT CAN
DO ON HIS OWN INITIATIVE.
FIRST, SOMETHING WE TOLD YOU
ABOUT IN JUNE, POSITIVE AND
PRACTICAL IDEA.
STEVE: INDEXING CAPITAL GAIN FOR
INFLATION.
>> ABSOLUTELY.
THE LONGER WE PAY TAXES ON
INFLATION.
GET RID OF THE TAX ON INFLATION
AND YOU WILL SEE TRILLIONS OF
DOLLARS REDEPLOYED TO HIGHEST
AND BEST USE AND PEOPLE HAVE
OPPORTUNITIES TO DO SOMETHING
WITH CAPITAL THAT'S BEEN
LIBERATED.
STEVE: SECONDS BIG IDEA IS ON
TRADE IN CHINA.
I'VE BEEN AS TOUGH AS ANYONE ON
CHINA AND AS YOU KNOW, I
COMPLETELY SUPPORT BUT THE
PRESIDENT HAS BEEN DOING.
HE'S A FIRST WESTERN LEADER IN
50 YEARS TO STAND UP TO CHINA
AND IT IS WORKING.
MORE ON THAT NEXT WEEK.
BUT THERE'S NOTHING WRONG WITH
THAT TACTICAL PAUSE TO GET THE
BEST POSSIBLE ECONOMIC CLIMATE
IN THE REELECTION CAMPAIGN.
MAKE A DEAL NOW AND HIT THEM
HARD AFTER THE ELECTION.
HERE'S THE BOTTOM LINE.
TRUMP ECONOMY IS FUNDAMENTALLY
STRONG AND DELIVERING GOOD JOBS
AND HIGHER EARNINGS FOR WORKING
AMERICANS WHO SUFFERED IN THE
YEARS OF STAGNATION.
BUT THE THREAT TO THE ECONOMY
COMES FROM THE LOONY LEFT
ECONOMIC POLICIES WHICH WOULD
SCARE OFF INVESTMENT AND BRING
BACK STAGNATION.
THE PRESIDENT AND HIS TEAM
SHOULD TAKE THE INITIATIVE TO