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The Future of ‘Obamanomics’

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  • Description

    Steve Bannon, producer of “The Undefeated,” on his views of the economy under President Obama.

  • Duration 4:47
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Six weeks before we hit the fiscal -- my next guest says the country's debt problems are only exacerbating.

Our problems of zero growth.

He says it's gonna get worse joining us now an executive chairman of bright part news.

He banner good to have students.

But -- -- power is Brent part dot com and all your sites are they -- I think -- -- an excellent we've launched the site where before Andrew passed away.

That we know with technology and new contents I think one fire erupt almost ten million Meeks and close to -- pages -- -- so.

We are gonna put a hundred new pieces of content -- every day in the team.

At -- article pilot -- for these guys -- on fire.

-- grew during a great job let let's turn to.

Today the Fed Chairman Ben Bernanke -- but a new normal.

Effectively saying -- -- been lost their programs have a in -- of allegiance and -- Stubborn.

Loss of skills high unemployment.

Zero growth perhaps something approaching zero.

What's your reaction -- some people so this is a Bernanke's upside I think if you look at other people like Chris White men or journey grant them as a whole bunch of money managers and economists coming -- now.

Talking about historical birth rates -- three and a half for 4% with United States had which -- someone baked into the Obama budget are things of the past guys are talking about.

The reality with lack of capital formation the demographic -- we've hit the low birth -- we're gonna be less than 1% growth so I think we're looking at a -- economic crisis on top of a fiscal crisis well he.

You know the idea that -- That this country can sustain.

Basically zero growth high unemployment.

That is not our destiny it's not an armed national DNA.

And I have a little aggravated to be honest with Leo and I you know I tip my -- to all of this -- -- whether -- be.

Bernanke whether it be grant -- whoever might be.

But that isn't the way this country works and in the it seems to me to be through.

Well it -- very annoying I get a little angry with.

Mr.

-- look at the birth the birth rate in 2000 elevenths the lowest referred -- countries had recorded history corporations are sitting almost -- trillion dollars of cash.

And they're not reinvesting in America the signals are out there.

By people's decision that they don't have faith.

And the political class -- particular people like chairman Bernanke.

That it had to write this economy you're you're talking not about people -- you're talking about multinationals.

When we start talking about that -- -- two trillion dollars sitting in somebody's balance sheet and somebody's bank.

We're talking about that we're not talking about folks folks are actually out there -- Are consuming but it company's head of faith that we're gonna have greater than 1% growth they always have a big old kiss on the cheek and reassure those -- -- CEOs that we do that I think you -- -- out all the on the populace but I believe you have to have a stable you have to have a stable economic environment for people to read my only fear that's what America's always been based on.

That's for America has been that's we've got our growth from you're seeing today a political class.

That cares about himself and the perpetuation of themselves and with -- with recurrent -- without regard to the American people.

Without regard to the American people what -- wanna make of those multinationals.

Need to have their hands held throughout.

Through headwinds.

Heavy heavy far.

You may -- less able business environment island -- this country part the -- about a dog.

You know.

It it demonstrates -- -- close importance of having strong positive national leadership.

To grab their alliance and period through this and to -- some.

Encouraging environment.

Special I think get tail with them the Fed's chairman speech today.

I think he's getting -- obtuse as as his his predecessor.

I think -- -- through the tea leaves that you can't tell one way I think you can read these other reports of people that very clearly lay out.

Why the country's not gonna go back to three and a half percent growth in March in Washington are still talking -- have to 4% growth it's it's gonna -- -- decisions we make -- -- us.

Folks to think about.

One thing because it's not often written about it neither.

Academic treatises or in the popular business -- Talk about labor and importance of capital in growing an economy -- about -- third component.

And it's a very important and that is population growth in here is the dirty little secret.

About economic growth you've got to have that population growth in this country is in point of fact going in entirely the wrong direction.

A population growth we're gonna have to do deals that intelligently.

At least acknowledge -- 2001 of the lowest birth rate countries after.

Seeing them.

Great to have you here congratulations to you and -- but -- -- thank you --

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