Overview
- Bannon, speaking at CPAC on Friday, urged attendees to accept higher gas prices that have climbed during the war with Iran.
- The appeal drew near silence from the hall, with only a few hands raised when he asked who was ready to “bear a little pain.”
- On the same stage, James Rickards said Wall Street sells stories and described a popular view that the war will end soon and oil prices will fall.
- Bannon rejected that view and said the conflict would last much longer because “escalation is the only path.”
- Rickards advised investors to hold more cash and trim exposure, and outlets including Raw Story and The Daily Beast reported the muted CPAC response.