In bad economic times, all sorts of funny things happen to a capitalist country.
The Left typically gains power, assuming they are out of power in the first place and have some intelligent to offer.
And the rightwing populists get going. So do the fascists. It’s hard to believe that either one has much to offer.
US style rightwing populists are particularly retarded. This video is an excellent example.
This dumbshit attacks the federal government borrowing money in a depression (a necessity for a quick recovery), then he attacks Freddie Mac and Fannie Mae (that’s the federal agency that guarantees mortgages). The FM’s are part of the crisis, but that’s only because they got in at the hog feeding trough with all the rest of them. The entire political spectrum, Republicans to Democrats, was behind the FM’s loosening their standards, so the FM’s would allow the capitalists to make more knowingly bad loans where the capitalists made money whether the loans made good or went bad.
So this was a federal agency captured by the power of criminal finance capital, in particular the criminal real estate sector. The Republicans have tried to deflect the whole criminal fuckup on the part of the FIRE sector (finance, insurance and real estate) and deflect it off onto the Federal government. In this revisionism, the Feds caused the Depression! The capitalist criminal banksters were the good guys! Yeah right.
And how did the FM’s cause this Depression? By loaning to worthless “nigger” and “beaner” deadbeats who knowingly took out loans that they knew they could not repay (note blatantly racist subtext)! Left out here is that the capitalists wanted to make loans to these insolvent folks, and for decades lobbied to get rid of Federal regulations mandating that loans could only go to solvent folks. The criminal banks just repackaged the shit loans as funny money securities and passed them on to the next sucker, making a bundle. The crooked banks did not care if the loans went bad, since they didn’t own them anymore anyway.
Both parties and the entire media were in deep with this criminality to the max. A recently passed financial reform bullshit law will frankly do nothing to curb this criminality and will not prevent it from happening again. The Republitards railed against any changes at all for their criminal banker buddies, and the Dems kept watering the bill down after crooked bankster lobbyists showed up in their offices, probably with suitcases full of cash.
This dumbfuck then starts going on a bout the evil Fed. That’s the Federal Reserve. Yes, the Fed, under Alan Greenspan, was part of a decades-long project to reduce the income of the US middle class by 2/3. This project was supported wildly by both parties and the entire US media across the board. Notice how Greenspan kept getting automatically reappointed every time he came up. The Dems sort of grumbled a bit, but the Republisnarks demanded it, and the media roared threat after threat if Greenspan was not re-upped yesterday.
Other than the fact that there are a bunch of ruling class asshole class warriors sitting on the board, there is nothing per se wrong with having a Federal Reserve. It’s actually necessary to keep the economy from going into wild swings. The Fed often takes decisive action to try to ward off serious economic problems. Getting rid of the Fed is insane, solves nothing, and brings up back to 1870.
It’s nice to see him hitting the 1% elite, Wall Street and the bankers. At least he’s got the right targets. Those are the Republicans’ buddies. They never say two cross words about any of those groups. But his prescriptions are all wrong.
He also says that the only time people are safe is when Congress is not in session. That implies we should just disband Congress and let the capitalists run amok over our bloodied heads.
Right dude. The problem is government! Idiot.
He also loves the Tea Partiers! Why, they’re just fighting against all that evil speeeeeeending. We can’t have government spending, not a Depresion! God no.
This guy is a political amateur and economic moron, but he’s smarter than 90% of White Americans. That’s scary right there. His crap economic and political populism hits all the right anger buttons, but does nothing to cure the problems, and actually makes everything worse.
Anyway, this gives you a good sense of rightwing populism in the US, 2010 version. It’s as retarded as ever, but people keep falling for it.