On May 10, 2025, the Financial Times published a highly anticipated interview with Steve Bannon, the controversial political strategist and former White House chief strategist under Donald Trump. Conducted by FT’s U.S. correspondent, the conversation offered a raw, unfiltered glimpse into Bannon’s current worldview, his reflections on the MAGA movement’s trajectory, and his stark warnings about global economic and cultural shifts. The interview, marked by Bannon’s characteristic intensity, touched on critical themes that resonate with his base while raising eyebrows among critics. Here are the most significant points from the discussion, distilled for clarity and impact.
Populism’s Unfinished Revolution
Bannon framed the MAGA movement as a “revolt of the working class” that remains far from complete, despite Trump’s 2024 electoral victory. He argued that the 2008 financial crisis, which he called a “betrayal of the middle class,” continues to fuel populist anger globally. “The elites never paid a price,” Bannon said, pointing to unchecked corporate power and Wall Street’s influence as ongoing grievances. He positioned himself as a champion of those left behind by globalization, insisting that populism’s momentum will only grow as economic inequality festers.
What stood out was Bannon’s refusal to see Trump’s second term as a final victory. Instead, he described it as a “beachhead” for dismantling what he calls the “technofeudal” system—a term he used to critique Silicon Valley’s dominance and its alignment with globalist elites. This rhetoric signals that Bannon sees his role as an agitator, not a celebrant, pushing for deeper structural change.
Clashing with Tech Titans
One of the interview’s most explosive moments came when Bannon doubled down on his feud with tech billionaires, particularly Elon Musk. He accused Musk of wielding outsized influence over Trump’s administration, calling him a “transhumanist” whose vision for AI and technological advancement threatens traditional values. “Musk’s not MAGA—he’s an opportunist riding the wave,” Bannon quipped, referencing Musk’s $250 million investment in Trump’s campaign. He warned that tech “oligarchs” like Musk, Mark Zuckerberg, and Jeff Bezos are co-opting the populist movement for their own gain, a tension that could fracture Trump’s coalition.
Bannon’s critique wasn’t just personal; it was philosophical. He expressed alarm at the rapid pace of AI development, warning of a “post-human future” where ordinary workers become obsolete. This dystopian vision, while hyperbolic to some, underscores a growing divide between MAGA’s working-class base and the tech-heavy factions now orbiting Trump.
A Global Vision for Populism
Bannon’s ambitions extend far beyond U.S. borders. He spoke of a “global populist surge,” citing movements in Europe, Latin America, and even Russia as part of a broader rejection of liberal cosmopolitanism. Notably, he referenced his 2018 meeting with Russian philosopher Aleksandr Dugin, describing it as a step toward aligning U.S. and Russian interests against China. “The real fight is the Pacific, not Ukraine,” Bannon said, advocating for a U.S.-Russia détente to counter Beijing’s growing influence.
This geopolitical pivot is a bold departure from mainstream Republican orthodoxy, which remains hawkish on Russia. Bannon’s vision of a U.S.-Russia alliance, however, is less about ideology and more about pragmatic power dynamics—a point that may alienate traditional conservatives but energize his base’s anti-establishment instincts.
Cultural War and the “Judeo-Christian West”
Bannon leaned heavily into cultural issues, framing the populist fight as a “spiritual war” to preserve the “Judeo-Christian West.” He criticized what he sees as the erosion of traditional values, pointing to everything from transhumanism to progressive education as existential threats. “The left wants to chip you up and turn your kids into algorithms,” he said, a line that encapsulates his knack for vivid, if polarizing, rhetoric.
This cultural focus wasn’t just defensive. Bannon called for an offensive push to reclaim institutions—schools, media, and even Hollywood—from progressive influence. He cited Project 2025, the Heritage Foundation’s blueprint for Trump’s second term, as a critical tool for this cultural counteroffensive, praising its detailed policy prescriptions.
Warnings of Economic Reckoning
On the economic front, Bannon sounded an alarm about an impending fiscal crisis, echoing sentiments from his 2024 Newsweek interview. He claimed the U.S. is “on the brink” of a bond market collapse and pension system failures, blaming decades of “easy money” policies. “The bill’s coming due, and it’s not the working class who should pay,” he insisted, targeting the “billionaire class” for austerity measures.
This populist economic stance puts Bannon at odds with Trump’s 2017 tax cuts, which he has previously criticized as favoring the wealthy. His call for higher taxes on millionaires, noted in a recent Britannica update, suggests a willingness to challenge Trump’s inner circle on policy—a risky but calculated move to maintain his outsider credibility.
Why It Matters
Bannon’s Financial Times interview wasn’t just a platform for his ideas; it was a strategic play to shape the narrative around Trump’s second term. By positioning himself as the populist conscience of MAGA, he’s signaling to both supporters and adversaries that he remains a force to be reckoned with, despite his lack of an official role in the administration. His attacks on tech billionaires, warnings of economic doom, and vision for a global populist alliance are designed to keep the movement’s revolutionary edge sharp.
For critics, the interview reinforces Bannon’s image as a divisive figure whose rhetoric skirts the line between insight and conspiracy. His invocation of a “spiritual war” and dystopian tech fears may alienate moderates, while his feud with Musk risks fracturing the fragile coalition that propelled Trump to victory. Yet for his base, Bannon’s unapologetic defiance is catnip—a reminder that their fight against elites, both corporate and cultural, is far from over.
Steve Bannon’s May 10, 2025, Financial Times interview was a masterclass in political theater, blending sharp critiques with apocalyptic warnings. He painted a world where populism is ascendant but under threat, where tech titans and globalist elites conspire to undermine the working class, and where only a relentless fight can preserve the “Judeo-Christian West.” Whether you see him as a visionary or a provocateur, Bannon’s words carry weight in a polarized America. As Trump’s second term unfolds, the tensions Bannon highlighted—between populists and tech moguls, between cultural traditionalists and futurists—will likely define the MAGA movement’s next chapter.
