STEVE: THAT EVENING AND WELCOME

TO THE NEXT REVOLUTION BUT I

MISS STEVE HILTON AND THIS IS

THE HOME OF PUBLIC POSITIVE

POPULISM AND MOST DEFINITELY WE

ARE PRO- AMERICA.

PRESIDENT TRUMP WITH THE

ECONOMIC CASE FOR HIS REELECTION

IN CLASSIC STYLE THE OTHER

NIGHT.

PRESIDENT TRUMP: YOU HAVE NO

CHOICE BUT TO VOTE FOR ME

BECAUSE YOUR 401K'S ARE DOWN THE

TUBES IN EVERY WILL BE DOWN THE

TUBES.

SO, WHETHER YOU LOVE ME OR HATE

ME YOU GOT TO VOTE FOR ME.

STEVE: BUT ACCORDING TO THE

PEOPLE WHO DO HATE THE PRESIDENT

IT'S ALL GOING DOWN THE TUBES

NOW.

>> TRUMP WAKING UP TO A TRAINING

# HE WAS LIKELY DESPERATE TO

CHANGE.

# TRUMP RECESSION.

IT CAME ALONGSIDE HEADLINES 40

THE ECONOMY IS IN DISTRESS AND

MAYBE EVEN HEADED FOR A

NOSEDIVE.

TRUMP'S OWN AIDS AND IT COULD

SPELL POLITICAL DISASTER FOR THE

PRESIDENT AND COULD POSE THE

GREATEST THREAT YET TO HIS

REELECTION PROCESS.

>> I CALL THIS ANOTHER TRUMP A

SLUMP.

>> GIANT DARK CLOUD HAS TAKEN

ITS NEW PLACE ON THE HORIZON AS

POTENTIAL BIG TROUBLE FOR THE

TRUMP ECONOMY.

>> THE THREAT OF RECESSION IS

REAL.

>> IS A GLOBAL ECONOMY INCLUDING

THE UNITED STATES IS TAKING A

STEP TO THE RECESSION AND WHAT

DOES THAT MEAN FOR THE

PRESIDENCY.

>> IS POLITICAL SUICIDE.

STEVE: IT'S PRETTY OBVIOUS THAT

THESE ESTABLISHMENT TRUMP 18

HYSTERICS ALREADY COMFORTABLE,

COASTAL LIVES WANT A RECESSION

BECAUSE THEY THINK THAT'S THE

BEST WAY TO GET RID OF TRUMP.

A LEAST ONE OF THEM IS HONEST.

>> I'VE BEEN SAYING FOR ABOUT

TWO YEARS I HOPE WE HAVE A

RECESSION AND PEOPLE GET MAD AT

ME.

STEVE: YEAH, I WONDER WHY.

BILL, IN RECESSION REAL PEOPLE

WORKING AMERICANS GET HURT, NOT

YOU AND YOUR RICH FRIENDS IN THE

ESTABLISHMENT STATE MEDIA THAT

WOULD BE REPORTING ON RECESSION

NOT LIVING IT.

WE SAW ALL THIS TALK OF

RECESSION LAST WEEK NOT BECAUSE

OF ANYTHING THAT HAPPENED IN THE

REAL ECONOMY BUT BECAUSE OF THE

FAKE ECONOMY, THE ONE CONJURED

UP BY PANICKY IDIOTS AND

ALGORITHMS ON WALL STREET.

IN CASE YOU NEVER MET ANY OF

THESE FINANCIAL WHIZ KIDS LET ME

TELL YOU WHO WE ARE DEALING WITH

HERE.

THESE WALL STREET TYPES ARE NOT

EXACTLY THE KIND OF PEOPLE YOU

WANT YOUR CHILDREN TURNING INTO.

THEY ARE NOT VERY SMART AND NOT

THOUGHTFUL OR KIND BUT OFTEN

POORLY EDUCATED AND MOSTLY

IGNORANT AND ALWAYS

SELF-INTERESTED AND GREEDY.

THIS WEEK THEY GOT THE WHOLE

WORLD IN A PANIC FOR NO GOOD

REASON THANKS A LOT, GUYS.

AND THEY ARE MOSTLY GUYS.

TO HEAR A RUMOR, MASSIVELY

OVERACT TO A SINGLE PIECE OF

DATA, PUSH BUTTONS AND FOLLOW

EACH OTHER LIKE DEMENTED SHEEP.

THE WORST THING IS THERE PANICKY

IT IS HE CAN HAVE REAL-WORLD

EFFECTS.

IN THE END, THE ECONOMY IS NOT

SOME ABSTRACT THING BUT A HUMAN

THING, COLLECTIVE RESULT OF

COUNTLESS HUMAN DECISIONS.

SHOULD I BUY THAT NEW PIECE OF

FURNITURE?

SHOULD I HIRE THE EXTRA WORKER?

ALL OF THESE HUMAN DECISIONS

BOIL DOWN TO CONFIDENCE ABOUT

THEIR FUTURE.

TO HAVE THE WALL STREET IT IS

DATE COULD CAUSE A RECESSION

JUST BY GOING ON ABOUT IT.

THIS WAS THE SMARTER THING WE

HEARD LAST WEEK ON THE WHOLE

TOPIC IS THE CEO OF BANK OF

AMERICA SOMEONE WHO KNOWS WHAT

HE'S TALKING ABOUT BLAMED

INTERNATIONAL FACTORS FOR THE

TURMOIL OF THE FINANCIAL MARKETS

AND POINT OUT BASIC FACTS OF THE

REAL ECONOMY.

QUOTE, AVERAGE WORKER IS

WORKING, GETTING PAID MORE AND

THAT WILL TRULY INTO GOOD CREDIT

PERFORMANCE ON THE CONSUMER SIDE

BUT THE REAL RISK FOR THE U.S.

ECONOMY IS IF THE CONSUMERS SLOW

DOWN.

LISTEN TO THIS, THE MOST

IMPORTANT POINT HE MADE.

>> WE HAVE NOTHING TO FEAR ABOUT

A RECESSION EXCEPT FOR THE FEAR

OF RECESSION.

STEVE: THAT IS EXACTLY RIGHT.

WE MUST NOT LET THE PANICKY WALL

STREET ROYALTY LIVING IN THE

TRUMP HATING ESTABLISHMENT MEDIA

TALK US INTO A RECESSION.

KEEP THE FOCUS ON THE REAL

ECONOMY, NOT THE FAKE ECONOMY.

CONSUMER SPENDING IS TWO THIRDS

OF THE REAL ECONOMY AND IN JULY

IT DID NOT GO DOWN BUT IT WENT

UP.

AS "THE WALL STREET JOURNAL"

NOTED ON FRIDAY THERE WERE ABOUT

TO REPORT THE STRONGEST RATING

THE SMART IS A POSITIVE SIGNAL

OF U.S. ECONOMY.

IN THE REAL ECONOMY THE BIGGEST

REAL TAYLOR, WALMART, MADE A

SALES WERE DOWN BUT UP.

IT REVISED ITS PROFIT FORECAST,

NOT DOWN BUT UP.

TESTING FOR MACROECONOMIC

ADVISERS REVISED ITS ECONOMIC

GROWTH PROJECTIONS, NO, NOT DOWN

BUT UP.

THE ATLANTA FED REVISED ITS

ECONOMIC GROWTH PROJECTIONS

AGAIN, NOT DOWN BUT UP.

IN THE REAL ECONOMY, TRUMP

ADMINISTRATION, PRO ENTERPRISE

AGENDA IS WORKING FOR LOWER

TAXES AND LESS REGULATION A

BUSINESSES THE CONFIDENCE TO

INVEST AND THAT MEANS MORE

INNOVATION AND HIGHER WORKER

PRODUCTIVITY WHICH MEANS MORE

JOBS ARE CREATED AND WORKERS

HAVE PAID MORE BECAUSE THE

PRODUCING MORE.

THE LATEST JOB SUPPORT FOR

154,000 JOBS BACK IN JULY

BRINGING THE LABOR FORCE TO

163.4 MILLION, RECORD HIGH.

PRESIDENT TRUMP WE GOT LOWEST ON

A PERMIT IN 50 YEARS THE MOST ON

RECORD FOR AFRICAN-AMERICAN AND

HISPANIC WORKERS AND JUST

PUBLISHED THE LOWEST SUMMER USE

OF EMPLOYMENT FOR 53 YEARS.

THE LOWEST SINCE 1966.

ON WORKER'S PAY, NEW DATA SHOWED

EARNINGS ROSE 4.5% IN 2017 AND

5% IN 2018, EVEN HIGHER THAN

PREVIOUSLY REPORTED IN FILES

AHEAD OF INFLATION.

WHILE THE TRUMP HATERS PRAY FOR

A RECESSION AND WALL STREET

PLAYS AROUND WITH THE FAKE

ECONOMY THE REAL ECONOMY IS

BOOMING.

IS EVERYTHING FINE AND DANDY

WITH NOTHING TO WORRY ABOUT?

CAN PRESIDENT TRUMP AND HIS TEAM

RIGHT THE WAVE TO HIS ELECTION

NEXT YEAR CONNECT NO, NOT AT

ALL.

THE REST OF THE WORLD IS DOING

POORLY.

CHINA, GERMANY, UK, ECONOMIES

ARE ALL HEADING IN THE WRONG

DIRECTION.

WHAT SHOULD PRESIDENT TRUMP DO

TO KEEP OUR ECONOMY MOVING AHEAD

AND IT'S NO USE YELLING AT THE

FED BECAUSE THEY'RE IN IT FOR

WHAT THEY CAN DO BUT THERE ARE

TWO BIG THINGS THE PRESIDENT CAN

DO ON HIS OWN INITIATIVE.

FIRST, SOMETHING WE TOLD YOU

ABOUT IN JUNE, POSITIVE AND

PRACTICAL IDEA.

STEVE: INDEXING CAPITAL GAIN FOR

INFLATION.

>> ABSOLUTELY.

THE LONGER WE PAY TAXES ON

INFLATION.

GET RID OF THE TAX ON INFLATION

AND YOU WILL SEE TRILLIONS OF

DOLLARS REDEPLOYED TO HIGHEST

AND BEST USE AND PEOPLE HAVE

OPPORTUNITIES TO DO SOMETHING

WITH CAPITAL THAT'S BEEN

LIBERATED.

STEVE: SECONDS BIG IDEA IS ON

TRADE IN CHINA.

I'VE BEEN AS TOUGH AS ANYONE ON

CHINA AND AS YOU KNOW, I

COMPLETELY SUPPORT BUT THE

PRESIDENT HAS BEEN DOING.

HE'S A FIRST WESTERN LEADER IN

50 YEARS TO STAND UP TO CHINA

AND IT IS WORKING.

MORE ON THAT NEXT WEEK.

BUT THERE'S NOTHING WRONG WITH

THAT TACTICAL PAUSE TO GET THE

BEST POSSIBLE ECONOMIC CLIMATE

IN THE REELECTION CAMPAIGN.

MAKE A DEAL NOW AND HIT THEM

HARD AFTER THE ELECTION.

HERE'S THE BOTTOM LINE.

TRUMP ECONOMY IS FUNDAMENTALLY

STRONG AND DELIVERING GOOD JOBS

AND HIGHER EARNINGS FOR WORKING

AMERICANS WHO SUFFERED IN THE

YEARS OF STAGNATION.

BUT THE THREAT TO THE ECONOMY

COMES FROM THE LOONY LEFT

ECONOMIC POLICIES WHICH WOULD

SCARE OFF INVESTMENT AND BRING

BACK STAGNATION.

THE PRESIDENT AND HIS TEAM

SHOULD TAKE THE INITIATIVE TO