By Kevin D. Freeman, D.Sc. (h.c.), CFA
On November 3, Americans will decide who controls the United States Congress for the next two years. And for millions of voters, the election is already under way: early voting has started across much of the country, including in Texas, where it opened October 19. Yet a lot of people treat a midterm as a sideshow: less excitement, no presidential race at the top of the ticket, and so many simply stay home.
The numbers prove it. In the last two presidential elections, roughly two-thirds of eligible Americans voted. In the last two midterms, it was closer to half. That gap is where elections are won and lost.
Our adversaries understand this. America’s intelligence community assessed that Beijing tacitly approved efforts to influence a handful of races in the 2022 midterms. Low-turnout races are where a small push moves the result. When Americans stay home, foreign influence goes further.
I believe this may be one of the most consequential midterm elections of our lifetimes. In Episode 420 of Economic War Room, “The One Horse You Can Vote Out,” airing Thursday, October 29, just five days before Election Day, I make that case through the lens of my new book, The Four Horsemen of the American Apocalypse and Our Six Trials by Fire.
The One Horse You Can Vote Out
The Red Horse is the Chinese Communist Party. The Green Horse is Islamist supremacism. The Blue Horse is globalist despotism. And the Yellow Horse is the domestic cowards, traitors, and fools who open the gates for the other three.
Here is the key point. We cannot vote out the Chinese Communist Party. We cannot vote out the Muslim Brotherhood. We cannot vote out the World Economic Forum. But the Yellow Horse is the one horse you can vote out, and the other three need it to succeed. It is the multiplier.
As I wrote in the book, the other horses are foreign. “The Yellow Horse is different. The Yellow Horse is us.” It is the politician who imports voters rather than persuades them, the lobbyist who advances a foreign agenda because the check clears, and the citizen who votes for whoever promises the most free stuff, borrowed against the future of our own grandchildren.
I say plainly in the book that the Yellow Horse rides in both parties. Honest accounting requires that. But when you look at the major races on the ballot this year, the choices are stark. I’ll use the same filter I use in the book: Liberty, Security, and Values. Will this candidate protect your liberty, including your financial liberty? Will he strengthen our security against foreign threats? Will he defend the values that built this country?
Why Congress Is the Battle Space
The Constitution gives Congress the power of the purse. Every dollar the federal government spends, and every dollar it borrows, must pass through Congress. Our national debt is now more than $40 trillion, the first of our Six Trials by Fire, and interest on that debt now costs more than our national defense. Before we buy a single ship or pay a single soldier, we pay our creditors, and some of those creditors are foreign governments.
The Senate carries additional weight. It confirms federal judges, who serve for life. It ratifies treaties, and the Blue Horse often arrives dressed as a treaty: a global climate pact, a global health accord. A Senate that says “no” is the firewall. The Senate also confirms the chairman and governors of the Federal Reserve. The people who set the price of your money are confirmed by the United States Senate. If you care about sound money, you have to care about who sits there.
Then there is programmable money, our third Trial by Fire: the threat of a central bank digital currency that could track, restrict, or even shut off your spending.
The House passed the Anti-CBDC Surveillance State Act in July 2025. It would bar the Federal Reserve from issuing a digital dollar. The Senate has not passed it. President Trump’s executive order halted federal work on a CBDC, and that is good, but an executive order can be reversed by the next president with the stroke of a pen. In the book, I argue we ultimately need a constitutional ban. The first step, though, is a law the Senate will actually pass. Hand the Senate to the other side, and that bill almost certainly dies.
If you want to see where that road leads, look at the Red Horse. China already has its digital yuan, a currency the state can watch, program, and control. That is the model the globalists admire, and it is the model we must keep out of America.
Our sixth Trial by Fire is invasion. The flood at the southern border under the previous administration happened because of policy, and policy can be changed back. This year, several candidates are campaigning on what they call “comprehensive immigration reform.” We have heard that phrase before. It usually means amnesty. Amnesty does not solve an invasion. It rewards one, and it invites the next.
Finally, the majority sets the agenda: which bills get a vote and which hearings get held. Senator Ted Cruz chaired a Senate hearing titled “Hidden in Plain Sight: Confronting the Muslim Brotherhood Network in America.” Hearings like that happen only when the majority wants them. Lose the majority, and the spotlight on the Green Horse gets switched off.
The Math
Republicans hold 53 Senate seats; Democrats hold 47. Thirty-five seats are on the ballot, and 23 of them are held by Republicans. Democrats need a net gain of four to take control. In the House, the Republican majority is razor thin.
History is not on the side of the party in the White House. Since World War II, the president’s party has lost House seats in 18 of 20 midterm elections. The side that feels angry shows up; the side that feels comfortable stays home. The exceptions came when Americans felt the nation itself was under threat, as in 2002, just after 9/11.
The threat is just as real now. It is simply harder to see. Economic warfare does not announce itself with a plane hitting a building. It arrives one bad law, one lost industry, one stay-at-home election at a time. As I wrote in the book, the Yellow Horse thrives in civic disengagement. A conservative who stays home is still casting a vote. It just isn’t the vote he intended.
Texas: Whether Texas Stays Texas
Texas has not elected a Democrat to the United States Senate since Lloyd Bentsen in 1988. This year, that streak is in danger. The latest Fox News poll shows Democrat James Talarico holding a razor-thin lead over Attorney General Ken Paxton. (Keep reading for why I take polls like that with a grain of salt.) This seat will come down to turnout, and early voting is already open.
I’ll tell you plainly where I stand: I support Ken Paxton. Here is why, through the lens of the Four Horsemen.
This seat matters beyond Texas. Texas is leading the nation back to sound money; gold and silver became legal tender here on September 1, 2026. Texas is also the front line of the border, the energy economy, and the fight against foreign land grabs. Texas needs a senator who will carry that fight to Washington, not undo it.
The Blue Horse. Paxton led a coalition of Republican states suing BlackRock, State Street, and Vanguard, three of the largest asset managers in the world, for allegedly using their massive stakes in coal companies to push production cuts in service of a Net Zero agenda, driving up energy prices for American families. The Trump Justice Department and the Federal Trade Commission formally backed the case. A federal court refused to dismiss it. And Vanguard settled and agreed to cooperate with the states. That is what fighting the Blue Horse actually looks like. Not speeches. Lawsuits.
The Red Horse. In just four days, Paxton filed five lawsuits against companies tied to the Chinese Communist Party, including TP-Link, the router maker whose devices, according to the lawsuit, have been used by Chinese state-sponsored hackers, and Shein, the Chinese-founded fast-fashion retailer, for exposing Americans’ personal data to the CCP. Texas has also moved to block land purchases tied to hostile foreign governments, and as attorney general, Paxton is the one who enforces that law.
The Green Horse. In the book, I wrote about EPIC City, the proposed development outside Dallas marketed as a self-contained Islamic community. Paxton investigated, then sued the developers under Texas securities law, alleging they misled investors about what they were building and how the money would be used.
Three horses. Three fights. And on the border, Paxton sued the Biden administration again and again, including the fight to restore “Remain in Mexico.” Very few officials in America have taken on the Red, Green, and Blue Horses at the same time. His critics have thrown everything at him, including an impeachment that ended in acquittal. He is still standing, and he is still fighting.
James Talarico is a gifted speaker and a seminary student, and some Christian voters are listening. I respect anyone’s sincere faith. But faith in the public square is measured by what you would do with power. On the border, Talarico says, and I’ll quote him in full: “Our southern border should be like our front porch. There should be a giant welcome mat out front and a lock on the door.” His own plan calls for a pathway to legal status for many who came here illegally. He has referred to people here illegally as “undocumented Americans,” and he wants to ban masks for ICE agents.
We have tried the welcome mat. Millions crossed. The cartels made fortunes. Fentanyl killed Americans by the tens of thousands. The welcome mat is the policy; the lock is the promise. Texans know from experience which one gets delivered.
The real danger in Texas is not that conservatives will vote for Talarico. It’s that some won’t vote at all, because they’re still sore about the primary or they assume Texas is safe. Texas is not safe. If you are a Texan, this seat will be decided by whether you show up.
Michigan: A Green Horse Test in the Industrial Midwest
Michigan is the only open Democratic-held Senate seat in a state President Trump carried. Republicans have not won a Senate race there since 1994. The Republican is Mike Rogers: former Army officer, former FBI special agent, and former chairman of the House Intelligence Committee. In 2024, Rogers lost Michigan’s other Senate seat by about 19,000 votes out of more than 5.5 million cast. That is a handful of voters in every county. Conservatives who stayed home decided that race. The Yellow Horse doesn’t need you to vote for the other side. It only needs you to stay home.
The Democrat is Abdul El-Sayed, a former Detroit health director backed by Bernie Sanders and Alexandria Ocasio-Cortez. He has built his campaign on Medicare for All, a government takeover of health insurance, and has acknowledged it could mean higher taxes for ordinary workers. With the debt above $40 trillion, the last thing we need is another open-ended federal entitlement. As Rogers puts it: “He wants Medicare for All. I want Medicare for seniors.”
Then there is the Green Horse. I want to be precise here, as I am in the book. This is not about anyone’s personal faith, and it is not about our Muslim friends and neighbors. It is about Sharia supremacism, and a candidate’s record on that is fair game.
In 2011, El-Sayed wrote in the Huffington Post that people should not fear a Muslim Brotherhood-controlled Egypt. The Brotherhood is the movement that gave rise to Hamas. In November 2012, after Egypt’s Muslim Brotherhood president, Mohamed Morsi, seized sweeping new powers, El-Sayed was reported as one of 46 signers of a statement backing those decisions and calling on him to “purge the media and the police as quickly as possible.” What followed was a crackdown, with journalists hauled into court for “insulting Islam” and “insulting the president.” Egypt later banned the Brotherhood as a terrorist organization, and in January 2026, the U.S. Treasury designated the Egyptian branch of the Brotherhood as a terrorist group.
El-Sayed’s campaign has taken more than $115,000 from CAIR-affiliated donors, and he has refused to return it. CAIR was named an unindicted co-conspirator in the largest terrorism financing case in American history. CAIR denies any ties to terrorism, but Texas and Florida have moved to designate it a terrorist organization.
I’m not asking you to judge a man by his religion. I’m asking you to judge a candidate by what he signed, what he wrote, and whose money he keeps. On that record, the choice in Michigan is clear. Mike Rogers spent his career hunting the Green Horse. His opponent’s record points the other way.
The Rest of the Battlefield
Maine. Senator Susan Collins is seeking a sixth term against former state Senate President Troy Jackson, and recent polling shows Jackson narrowly ahead. Conservatives don’t always agree with Collins, but she is the only Republican senator from a state President Trump never carried, and the majority may well run through her seat. Maine also uses ranked-choice voting in federal races.
Georgia. Congressman Mike Collins, endorsed by President Trump, is challenging Senator Jon Ossoff in a state President Trump won in 2024. It is one of the best pickup opportunities Republicans have, but Ossoff has built an enormous war chest. If no one clears 50 percent, there is a runoff on December 1. Control of the Senate could come down to Georgia again, as it did in January 2021.
Ohio. Senator Jon Husted is defending the seat he was appointed to against former Senator Sherrod Brown. It’s a genuine toss-up. Brown voted for the $1.9 trillion American Rescue Plan, part of the spending wave that fueled the inflation families are still paying for.
North Carolina. Former RNC chairman Michael Whatley faces former Governor Roy Cooper for an open seat. As governor, Cooper vetoed a bill requiring North Carolina sheriffs to cooperate with ICE; the legislature had to override him.
Iowa. This one should not even be close. President Trump carried Iowa by double digits. But with Senator Joni Ernst retiring, Congresswoman Ashley Hinson faces State Representative Josh Turek in a tight race. Iowa farmers know the Red Horse firsthand: Beijing has turned its soybean purchases into a weapon in every trade fight. If Republicans can’t hold Iowa, they can’t hold the Senate.
Alaska: Two Dan Sullivans
Alaska may be the strangest race in America. Senator Dan Sullivan, a Marine, is seeking a third term against former Congresswoman Mary Peltola. And on the same Senate ballot, there is another Republican named Dan Sullivan: Daniel J. Sullivan Jr., a former schoolteacher who advanced out of the primary with just a few percent of the vote. Republicans have called it a ploy to confuse voters. He denies that.
Alaska votes by ranked choice, which makes the confusion worse. You rank the candidates. If no one wins a majority, the last-place candidate is eliminated and those ballots move to their next choice, until someone crosses 50 percent. In practice, a large share of voters never rank a backup. When their candidate is eliminated, their ballot simply stops counting.
Here is a simple illustration, and these are not real numbers. Imagine 100 voters. Peltola gets 45, Dan S. Sullivan gets 43, the other Dan Sullivan gets 7, and a fourth candidate gets 5. The fourth candidate is eliminated, then the other Dan Sullivan. If those 12 voters didn’t rank the senator as a backup, their ballots stop counting, and Peltola can win with less than half of the votes cast.
In my view, ranked choice takes a simple choice and turns it into a puzzle. Senator Sullivan opposed it from the start. Alaska voters kept it in 2024 by just 664 votes, and a measure to overhaul the system is back on the ballot this November.
If you live in Alaska, or know someone who does, here is the battle plan: look for Dan S. Sullivan, the incumbent, listed as the Republican, and rank him first. If you rank more, and you should, rank the other Republicans next. Don’t leave the senator off your ballot by mistake. One phone call to a friend or family member in Alaska could save a Senate seat.
Don’t Forget the House, or Your Statehouse
Under the Constitution, every tax bill must begin in the House of Representatives. The Republican majority is razor thin, and several districts will be decided by just a few thousand votes. Lose the House, and the next two years become investigations and gridlock, with no chance at the reforms America needs.
And don’t overlook your governor and your state legislature. The sound money movement is happening in the states. Texas made gold and silver legal tender, and other states are following. Those gains can be protected or reversed in the statehouse, so vote all the way down the ballot.
Lose both chambers of Congress, and expect a push for amnesty, more borrowing, and the CBDC door left wide open. Hold them, and we have a real chance to put a CBDC ban into law, lock in border enforcement, begin restoring fiscal discipline, and keep the spotlight on the Chinese Communists and on the Muslim Brotherhood operating inside America.
A Tale of Two Narratives
One narrative says the outcome is already decided, that a blue wave is coming and there’s nothing you can do about it. The other is the one history teaches.
For the past several election cycles, the polls have underweighted Republican voters. They underestimated conservative support in 2016. In 2020, the industry’s own professional association found the polls had their worst performance in 40 years, persistently understating support for President Trump and Republican candidates. And in 2024, they understated it again.
Part of the reason is simple: many Republican voters don’t answer poll calls. Call them reluctant Trump voters. They distrust the media and the pollsters who work with it, they screen unknown numbers, and when someone does reach them, some would rather not say how they plan to vote. Pollsters call this nonresponse bias, and as analysts have documented, weighting the results doesn’t fully fix it when the people who refuse to answer think differently from the people who pick up.
So when you see a poll showing a conservative candidate behind, don’t take it as a verdict. Take it as a reason to show up. Midterms are decided by who votes, not by who answers the phone.
Don’t let anyone tell you your vote doesn’t matter. The people selling that story are counting on you to believe it. Verify it yourself: look at the margins in these races. Many will be decided by fewer votes than the attendance at a single college football game.
Your Ballot Battle Plan
- Confirm your registration, and vote early if you can. Early voting has already started in many states, including Texas. Don’t wait for November 3. Look at a sample ballot before you go, especially if you vote in Alaska or Maine, where the ballot is ranked.
- Vote the whole ballot, all the way down. School boards, city councils, and state legislatures are where the Yellow Horse is born.
- Bring three people with you. A spouse, a neighbor, a son or daughter who has never voted in a midterm.
- Judge every candidate by the Four Horsemen. Will this person stand against the Chinese Communist Party? Against Islamist supremacism? Against globalist control of our money and our energy? Or will they hold the gate open?
- Volunteer if you have time. Serve as a poll watcher or election worker. Drive a neighbor to the polls. Elections are won by the people who do the unglamorous work.
And take your kids with you when you vote. Tell them why you’re voting. The family is the first line of defense, and the Yellow Horse is defeated one household at a time.
Charlie Kirk understood this better than almost anyone. He spent his life convincing young Americans that their vote mattered and that this country was worth fighting for. We lost Charlie to an assassin’s bullet. We honor him by finishing the work, and that starts with showing up.
The Red, Green, and Blue Horses are riding whether we vote or not. The Yellow Horse is different. It rides only as far as we let it. This is the one horse you can vote out. Please do. And pray for this nation, and for those who will lead it.
What we see as a marketplace, our enemies view as a Battle Space.
Watch the Episode and Get Your Free Battle Plan
Watch “The One Horse You Can Vote Out” when it premieres Thursday, October 29, on Economic War Room. Tune in Thursdays on BlazeTV or through our website at EconomicWarRoom.com.
Then get your FREE Economic Battle Plan for this episode. It includes the key Senate races at a glance, a step-by-step guide to voting in a ranked-choice state, and links to the sources so you can verify it yourself. Share it with the three people you’re bringing to the polls.
For the full framework, all four horsemen, all six trials, and the solutions for the nation and for your own household, get the book:
