This is an excerpt penned by John Rubino on DollarCollapse.com.
Americans will have to figure out what kind of society to rebuild from the rubble. Barring a coup, the majority will decide, which means people who value the rule of law and sound money will have to have to argue effectively in favor of those ideals. And they’ll face an uphill battle, because, as in the 1930s, the loudest voices will be those blaming capitalism and freedom, and calling for an enlightened state to save us from ourselves. Those arguments will strike a chord because, after decades of wealth-without-effort, most Americans lack a clear understanding of this stuff. Most won’t immediately grasp concepts like Constitutional limits on government power, and many will buy the “bankers and rich people bad, government good” arguments of populists hoping to use the crisis to consolidate power in Washington.
I agree. In times of difficulty, populist ideas are easy to sell. This is how Italy and France had the largest communist parties of the western world after WWII. My hope is that the American people, having a long free-market tradition, will resist leftist tendencies.
This is no time to panic, but I still believe we need a leader who understands and explains to all of us the transition we are going through. He or she must convince the average person that big government is not the solution but the problem, as proven by the latest debacle of Freddie and Fannie.
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George Dagnino, PhD
Editor, The Peter Dag Portfolio
Since 1977
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