Hey Peter Navarro here with a bonus podcast and Substack talking with Steve Bannon on the fiscal cliff.

This was just before McCarthy bit the dust, but I'll have a substack next week about this fiscal cliff issue and what needs to happen

over the next 30 days with the debt limit.

All right, give it a listen.

Peter Navarro, your assessment of the, of the the what the genius is up here in and in the

massive spending they want to do and they refuse unless you're

unless they're confronted it's going to continue.

But Jamie Diamond's sitting there talking about,

I thought you were Cassandra Navarro, he's taking up your mantle.

He's saying, hey, 7% interest rates are going 150 basis points higher 7% if we get to 7%

There'll be a meltdown like you haven't believed first First of the American people will be wiped out, right?

You're living paycheck to, 60% living paycheck to paycheck on a credit,

that gap financing is a credit card that's a 27% APR.

Your thoughts are where we stand, sir? Well, I got my red on today, Steve, because this is all

what's happening with our budget deficit. I want to go a little Mark Twain on you. You remember the old thing, he's a congressman, he's an idiot, but I repeat myself.

I, what does it take, Steve, for you and I to get through to these idiots on Capitol Hill that

as just before our eyes Steve our entire economy and financial system is disintegrating.

I mean, look, now we have, we had an inverted yield curve, right?

The Fed was raising interest rates at the short-end. Short-term rates,

zoom past 5%, but the long-term bond stays low, meaning we're going to have nothing

about recession. But what, you've not been talking about what? bond stays low meaning we're going to have nothing but recession but what you

not been talking about what stag inflation right forever and now up goes the

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