Effective today, he stepped down today. Well clarify that. Steve bannon the former chief strategist speaks in favor of domestic control of the economy and against globalization and this was hosted by the group by black americans for a better future. So im going to introduce to you guys, your speaker, but my heard and some of you all me ask this in the past, how many you consider yourselves reasonable people . Most of you are. You all are the wrong people. [laughter] how many are you familiar wright and itish play i had breakfast with him this morning and this is what he wanted me to tell you. When he is tapped on the shoulder and to do a great and mighty work thats church i will. The reasonable man adapts himself to the world the unreasonable man adapts the world to himself. Therefore our progress is man. Michael jordan thought he could play in the nba even though he got cut from his high school team. All men could be for given for their since. Barack obama thought he could do a great job for plaque folks but i digress. Donald trump and steve bannon. He is unreasonable to think that the black vote, the black business community, the latino has value. This guy is business wri as heck all over the world but he made a commitment to come to address us, not to give a speech but to open a dialogue. And when he talks to you today and then we are going open the floor to questions, not sermons, thats my job. And he wants a relationship with this room here. And if youre not willing to build a relationship with steve bannon and the movement that hes creating and asked me and each of you to be involved this, you should leave in. If you want to make America Great again and create opportunities for our minority entrepreneurs, this is the train you need to rise and get your ticket, because steve bannon is the conductor. Ts bring up my buddy, steve bannon. Give him some love [applause] steve it depends upon you. Depends upon us empowering the black and hispanic Entrepreneurship Community with one thing, access to capital. This entire movement that im very fortunate to be part of in this forum is going to have as a central these is of it, programs of theop the destruction black and hispanic working class and also empowers the plaque and hispanic entrepreneurs to start to build businesses around American Capital. Now i want to talk a few minutes today and go from the very general down to the specific and i think we have to have an adult conversation about the situation where our country is. Over the last couple of weeks, there was an important speech at the 19th party congress, this is before President Trump arrived for his visit and that was by president xi and outlined in 3 1 2 hours in a 68page speech, the basic position of china and its position in the world. And what he said, this economic war that they have been at with the United States of america is essentially over and they won. Over the last 30 years and by the way the effect and impact on your life is directly related to the geo political between the United States and china. Over the last couple of weeks president xis speech, brown yuft, which is no breitbart. It is not a a conservative news site. Brown is a quite liberal university, did an analysis. The global war on terror in 17 5. 6 trillion. Us ok. 7,000 dead, 52,000 casualties. I think the present value for the wounded alone is almost 1 trillion. I want you to think what your country would be if we had 5. 6 trillion that was invested in baltimore, in st. Louis and South Central l. A. And detroit. 5. 6 trillion. Think of the people in your community, people yo your family that have served in these wars, a war that in afghanistan, we just had the budget process, 70 illion allocated for overseas operation, 50 billion allocated to afghanistan. With the troop increase. That was 5 billion, what would baltimore be like if it was just one year we took 45 billion and invested in baltimore . What would st. Louis be like if it were just one year and 5 uldnt withdraw, we took 45 billion. And took it and invested in detroit or cleveland or my hometown, richmond, virginia. You would have a renaissance of these cities, correct . The outout of pocket cash has been 850 billion and in 17 years are we ever closer to victory today than then . 850 billion. President xi laid out this program and you got to remember, the elites in this country, both republican and democrat, wall steet and technology supported this. Said china as it got wealthier was more democratic. Its not. Ina is a authoritative dictatorship. Part. Mercantileist we have this federalish for free trade and concept that came out of europe and its a radical dea. 500 billion deficit annually with china. We keep it to 500 billion, cattles, wheat, copper and tins and oil and gas. And boeing jets and apple products. Excuse me, we dont do that anymore. With limited market access, our companies are forced to make everything over there. The jobs are over there. The force Technology Transfers, not stealing our transfers, the force Technology Transfers, the demands of our our High Tech Companies in order to enter china is . 5 trillion over the last 10 years. And we have not broken. That is the system. They play by a set of rules and demand those rules are enforced and in the United States total free trade, hey we got trade created. Jobs at mcdonalds and taco bell are not manufacturing jobs. Think when st. Louis and detroit was great. It was manufacturing jobs that made it great because in a manufacturing job, you can support a family and the community has other money with other Service Industries around it. You cannot support an advanced economy on service jobs. The elites are going to tell you that, right . Because they dont care. And its both republican and democrat and silicon valley, wall street, hollywood and the Imperial Capital of wall street, they dont care about you. Thats not just me. The facts are incontrowvert i believe. Look at the financial crisis of 2008. The financial crisis of 2008. Y numbers may not be totally accurate, im the executive director of breitbart, i think 2 3 of minority net worth was wiped out. 2 3 of the minority was wiped out. The Community Banks were wiped out. Every access of capital and every reform made it harder to get access. The minority capital cause the biggest financial crisis . Absolutely not. What happened on the financial crisis this goldman sachs, when the secretary of treasury went to see president bush became a Bank Holding Company and you know. They borrow free from the fed and they make how many tens of billions of dollars a year. Did anybody get that bailout. Did any get a bailout . Did private equity or Venture Capital come into your community, absolutely not. The solution was the solution. The bailout but the liquid infusion by the sinttral banks and going to inflate assets. If you own real estate or stock it is the greatest run. Donald trump, 2011, trump says if you own real estate now you are going on a great run. If you are a worker with a High School Education and real dollars, you havent had a raise since 1972. All the elites in the media say why are these people so angry. If you arent angry, you dont have a brain, right . This system is rigid. And its rigid because of your out of the room, you are out of the deal, right . How did wall street get bailed out . President obama had three commissions and im not faulting him, he had three separate commissions and he who should be held liable and accountable and i dont think there is one guy at a bank or one share of stock or one penny of bonus or one guy in jail. How did that happen . They dont think you have any power, right . The guys that have power got bailed out. And think about it for a second. Do the math. You had the rise of china since the late 1990s when democrats and the clintons and the bushes said if you leave them in the w. T. O. And the rulesbased Postwar International Order that the United States underwrites, everything will be fine. Guess what . Thats not a small mistake but a massive mistake. They had no intention of doing that. They had no intention of doing that. They had their own set of rules. But absolute closed economy where the United States has a total if you do the math, the Technology Transfers toppled, coupled with 5. 6 trillion for fighting the war on terror. That is not our entire defense budget. What would this country look like if 10 trillion was invested and if you guys had a piece of that and black and hispanic has a half a trillion dollars to invest. This would be a totally different country. How did it happen . The elites in this country made out like band its. And President Trump said you have 01ks. Been fantastic and workers have benefited from it. But thats not the point. The point is that the elites are quite comfortable and regardless of political parties. They dont matter anymore. That is human agency. Made that decision. It was going to happen and it went. You know j. D. Advance wrote a book about the working class and j. D. Pointed out to me the study that was done at m. I. T. That talked about the opioids crisis, there is a direct correlation between the factories that left and the jobs that left and the workers that left behind and the opioids addiction crisis. You go out into these communities in the upper midwest. We are losing a civilization and losing a Civic Society that has been built over many generations. That is on our watch. Thats why trump won. When i came to the campaign in midaugust, 16 points down and double digits and all the numbers were horrific and the underlying numbers, 2 3, onethird, but the most important number that i was given, 75 of the American People thought america was in decline. And heres the fundamental difference. The elites are comfortable with that. They are comfortable by managing our decline. Because they are going to make much money on the way down as they made on the way up and they have control. Heres the bet trump made. The working men and women are not comfortable with that. Theyre not comfortable with the declining america. Theyre not prepared to see that china is going to be a power in 30 years, because life in this country will be radically different and he is not about to do that and not prepared to do that. He campaign was on three prellings, limit legal immigration. You cant save the black and hispanic and White Working Class while you have unlimited illegal imdepration. Im a capitalist [applause] steve i worked at goldman sachs, im a real capitalist. What the chamber of commerce and what the guys on wall street want is more labor and competition with our citizens. I get it, higher operating margin and higher stock price. It is destroying the Education System and Health Care System but they dont have to pay for it. The workers in this country pay for it. The bad trade deals there, stopping illegal immigration. Hy are we so adamant about the visas. We turn it over toll stem. You know this. The kids arent learning art or history. Every day is getting ready for the tests. Stem. Thats the jobs of the future. There is one big problem with that. Where are they in the engineering schools this i went to Virginia Tech. You go to Virginia Tech today, 2 3 are asian students, plaque and hispanic kids cant get in there. Its not the asian students fault. And a black kid or hispanic is playing 15,000 and it is a huge albatross. Its a total scam. They are no dumber. They need the opportunity and you cant go to silicon valley. And silicon valley, we have to have these einsteins and need these gene uses. And i think the average is 102,000. I said you are paygo not a lot of money. Its a scam. What they want is a they want lower labor costs and want peam can kids to have to compete on a global basis with the world. American kids can compete for a job in the ubse of america underwritten by america, American Capital and american rule of law, that job should go to a kid from america. [applause] and were not talking about all great jobs but the first thing is to get people back to work and Labor Participation up. The key stats to look at are wages. And you are finally starting to restrict illegal alien labor from competing against american workers. Theyre not going to do us any favors. And the number one was to stop mass illegal immigration. And number two is bring jobs back and get out of the foreign wars that have sucked the lifeblood out of us, on the jobs, youre not going to wave a wand. Oing to take tough force on china cannot demand our technology for access to the market. I think the most single most important thing he has done has done tremendous things. Nd this is before the tax cut. 3. 3 to 3. 9 . Is the tax cut perfect . No. Its just not. Paul ryan had export credits and really flipping Corporate Finance and really taking it away from leverage and 100 write off, capital investment. That plan went nowhere. I thought it was fantastic but would take many years. Lets be honest, this plan is not so much tax reform. I think its a pretty significant and it is weighted to the corporations and the last of the big reagan tax concepts and the theory that is going to be an accelerant that is going to see the grine sprouts of nationalism and will add to that and increase profitability and lead to more investment and lead to more jobs. It is not perfect. I dont think it is fundamental tax reform. I think it is coming in the future. The president and the senate and house are doing something significant. And the growing economy to look at fundamental tax reform. One of the things im most pleased. The taxes hard so for the entrepreneurs start to look at what it is for the Global Corporations and its not perfect but much better than it was. I think it will be much better in the future. What has to happen and what im asking you and try to enlist you guys to help me, because i dont ave all the answers. We have to incentivize and the hedge funds to invest in minority businesses. One of the things we have to do and all the regulation that came up after the financial crisis as bad as it was for the big banks, it killed the small entrepreneurs and the Community Banks and people trying to lend because the paperwork alone, what President Trump has done de construction of the Administrative State and get to a more entrepreneurial environment for people just like yourselves and i think that is essential. I think the new market tax credit, the thing that is in the senate, its 5 billion. Did i just say we are spending in afghanistan this year, your tax money is going be 50 billion and we are up there begging for 5 billion for the new market tax credit. Have we lost the sense of our priorities . And you have to understand something the wall street jourm hate me and spitting on the floor when im talking, heres the scam, its the fetish they have this thing for the International Rules based liberal order and that is a series of commercial relationships, trade deals, Capital Markets and security agreements and what it is from stern market to the gulf but o the indiana ocean to the straits in the South China Sea to korea and japan and northwest pacific which we underwrite their security, every trade deal we are upside down on here and i hear the wall street journal, negative trade deals. Tell that to the folks in pennsylvania, ohio and michigan that are jobs went overseas. Opioid to solve the crisis, lets bring those jobs back to america and well solve it. You want to solve the inner city problems, put inner capital back to work. Its not the people is the problem, its the system thats the problem. We underwrite i was there and someone said, mr. Bannon, heres the problem we are your allies but we have regional responsibilities, you have global responsibilities, i said thats the problem. The e. U. Is the size of the United States of america. It has 300 million people. But their mindset, they got that deal and put in as minimum as possible and feel three combat divisions to protect them and kids dem your community. I was a naval officer on a destroyer, half of 2 3 of my crew plaque and hispanic, my daughter is a west point grad and an army officer, she severed iraq with the 101 first airborne, sergeants that reported to her. 2 3 plaque and hispanic. That security around the world is your money and your kids. Black and hispanic flurse to make sure your voice is going to be heard because if its not heard, you will be dialed out. The infrastructure for success. It is important, the intellectual infrastructure for success. One thing that i think my grandfather went to third grade, my dad is a high school graduate. The point is, it doesnt matter, they could get a trade and learn a trade. We lack tradesmen today. And President Trump is trying to recapitalize them and you dont need a College Education to have a rewarding career so your wife doesnt have to work two other jobs to support the family. [applause] steve the continuation of deconstruction. Im a pop you lift and economic nationalist and im proud of it. The reason im a popist and decisions have to be pushed down. Look at globalization. Is was made by the gene uses in london and new york. How did that work out for the working men and women . The elites took care of themselves. Now everybody says bannon why do you worry about that and not bringing back technology. We have to start to correct the problems with globalization. And convergens of biotechnology. The decision that man