Steve Bannon delivered a passionate speech to minority entrepreneurs recently for the group Black Americans for a Better Future, emphasizing the transformative potential of combining their entrepreneurial spirit with that of the white working class to get out and vote for a more favorable economic situation for their group members.
Bannon spoke favorably about returning to initiatives from the era of President Donald Trump, such as the Platinum Plan, which Ice Cube championed. This plan focused on directing capital toward minority communities. Bannon emphasized the significance of such initiatives, highlighting their role in promoting entrepreneurial success and empowering marginalized groups in society.
He asserted, “If we can combine the white working-class entrepreneurial spirit in this room, you’ll literally shift American politics for 100 years.” Bannon’s address critiqued the current economic system and advocated for a populist revolution.
Criticizing the state of capitalism in the U.S., Bannon argued, “Right now we don’t have capitalism in this country. What we have now is not entrepreneur capitalism. We have neoliberalism, which is kind of late-stage finance capitalism, it’s segueing into techno-feudalism.”
Bannon contended that the current economic framework benefits a small elite while disadvantaging entrepreneurs and the working class.
Bannon called for a “true populist revolution,” stating, “What I’m calling for is a true populist revolution. And I mean a revolution that reallocates capital.”
He emphasized that this approach would benefit both the working and entrepreneurial classes, creating a pathway forward for the American economy.
Reflecting on the 2008 financial crisis, Bannon highlighted disparities in financial bailouts. “You guys all got bailed out in 2008, didn’t you? None of you all got bailed out. Of course, you didn’t get bailed out. Goldman Sachs got bailed out, AIG got bailed out, GE Capital got bailed out.” He pointed out bankruptcy laws are designed to protect banks rather than people, underlining the persisting systemic inequities.
Bannon criticized both political parties, particularly the Republican establishment, for failing to address these issues.
“Both political parties, particularly the establishment branch of the Republican Party, won’t get off that.” He argued that the financial crisis of 2008 marked the beginning of the current economic problems, stating, “2008’s the rail head of this problem. You always have a populist reaction to a major financial crisis and why 14 years into it, are we still in this crisis?”
On defense spending, Bannon proposed significant cuts, suggesting that the U.S. does not need a trillion-dollar defense budget to counter the Chinese Communist Party.
“We don’t need a trillion dollars in a defense budget to defeat the Chinese Communist Party. We need to cut off Chinese Communist Party access to capital markets.” He advocated for redirecting these funds to support American entrepreneurs.
Addressing economic inequality, Bannon highlighted the stark disparities in asset ownership. “50% of the people have no assets whatsoever. They have debt. The bottom 50% owe nothing. The middle class from 50 to about 88 own next to nothing.” He criticized the current administration, saying, “You have the most progressive president in history but the greatest concentration of wealth in the nation’s history.”
Bannon condemned federal spending as a flawed strategy for economic recovery. “Federal spending is not a way to salvation. It’s a way to slavery. The federal spending, massive federal spending, is just more bondage.” He called for a fundamental economic system restructuring to make capital accessible to entrepreneurs, arguing, “What we need to do is make that capital accessible to entrepreneurs.”
Drawing historical parallels, Bannon likened the current economic situation to pre-revolutionary France, suggesting that dissatisfaction could lead to social upheaval. “It’s like in France before the Revolution… It went from a tax conversation to ‘Let’s roll out the guillotines.'”
Bannon also touched on political persecution, questioning why figures like Trump and his allies face severe legal challenges. “Why is Trump up on all these charges that would put him away for 700 years? Why is Rudy and Bob and myself and Peter Navarro in federal prison? They have to defeat Trump. They have to defeat the idea of Trump.”
He concluded his speech with a call to action, urging the audience to prioritize American citizens and reclaim control through political engagement. “So what are we going to do about it? We have to put the American citizen first.”
Bannon framed the struggle as a fight against a globalist elite, emphasizing the need for a return to entrepreneurial capitalism and foundational American values. His message was clear: systemic change is necessary to ensure economic and social stability, driven by a united entrepreneurial and working class.
Resources:
What Ice Cube Actually Contributed to Trump’s Plan for Black America
President-trump-platinum-plan-final-version
Watch the full Bannon speech to the economic summit: HERE
