Do you hear the people sing?
Singing the song of angry men?
Democratic presidential nominee Hillary Clinton said on Friday that half the supporters of her Republican rival Donald Trump belonged in a “basket of deplorables…”
Former Federal Reserve Chairman Alan Greenspan voiced concern that the U.S. economic and political system could be undermined by what he called “crazies.”
The deplorables…the crazies….
While I will not vouch for the character of every single Trump supporter (or whoever it is to whom Greenspan refers), the derogatory remarks by these two stalwarts of the current system are pointed in the wrong direction.
Central banking, unending wars, revolving door between Washington and New York, crony trade deals, big-business-favoring regulation, ever increasing price inflation and taxes, stagnating wages, unemployment, ever-increasing indebtedness – personal, corporate and government, lack of ability to save for retirement.
It is against these which the deplorable crazies are revolting. Many may not articulate it this way – not even Trump – but there it is.
And the source of these? I suggest the two of these characters look in a mirror as a starting point; from there, they can trace to the roots of their belief system.
Greenspan blames the rise of populism for the rise of the so-called “crazies.” It would be more accurate to blame progressivism. The funniest line from Greenspan?
…Greenspan traced the rise of populism in the U.S. all the way back to 1896, when William Jennings Bryan gave his “Cross of Gold” speech at the Democratic Party national convention opposing the gold standard.
While a slightly different slant, one can certainly point to the elite opposition to a gold standard as the prime facilitator of many of the issues causing such angst in the masses.
More from Greenspan:
“I hope we can all find a way out because this is too great a country to be undermined, by how should I say it, crazies.”
The country was undermined, and one can point to many events from 100 years ago as the beginning of the end: central banking, progressive taxation, going abroad in search of demons to destroy. All enabled by and enabling of the system that Greenspan now laments might be “undermined.”
The system will be undermined – either by choice or by (economic) force. On this, Greenspan makes his one true statement:
“Politically, I haven’t a clue how this comes out.”
Nor do I. But one thing is certain: it will “come out.”