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NORFOLK, VA – On the latest episode of his “War Room” podcast, former White House Chief Strategist Steve Bannon issued a warning that the upcoming Christmas season is going to be a dire one for American families due to the current economic issues that the country is facing.
Referencing a new issue of the Economist bearing the headline “The Shortage Economy,” Bannon appeared to be referring to a section in the issue’s article that points out that COVID-19 economic stimulus packages distributed globally during the pandemic led to consumers spending more on goods than normal. As a result of the rampant spending – especially electronics – there has been a global shortage of not only microchips, but numerous other items that will be hard to find on shelves this holiday season.
In addition, the spread of the COVID-19 Delta variant – in addition to energy crises in much of Aisa and Europe – has shut down numerous factories overseas that manufacture much of the goods that Americans purchase on a daily basis.
Bannon appeared to put the blame for the increasing “Shortage Economy” squarely on the policies of President Joe Biden, saying that Americans should “get ready for the bleakest, darkest Christmas in living memory.”
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“This is why we’re in dangerous territory right now,” he said. “Biden’s fiscal and monetary stimulus is the most reckless thing in American history. And you know who’s going to pay for that? The workers… I’m gonna tell you, this Christmas, it’s going to hit and it’s going to hit like nobody’s business.”
Bannon also said that the current worker shortage in the country – likely brought about by bank accounts flush with COVID-19 stimulus cash that is allowing people to be pickier about the jobs they choose – is also contributing to the woes the U.S. economy is facing.
“You now have work stoppages all over the place,” he said.
He also made reference to the as-yet unproven allegations that election fraud cost former President Donald Trump his second terms in the White House, claiming that the economic policies that Trump had in place would have prevented the damage to the economy that has happened under Biden’s watch.
“We’re entering into another phase. It’s all the converging forces,” he said. “Remember, elections have consequences, illegal elections have catastrophic consequences.”