[T]he only consistent way forward for America at this late stage of the game is a return to free markets, fiscal rectitude, sound money, constitutional liberty, non-intervention abroad, minimalist government at home and decentralized political rule. Unfortunately, that is not about to happen anytime soon — even if by some miracle Donald Trump is elected President. But . . . the tide is turning against the failed Wall Street/Washington bipartisan consensus. I call this insurrection the ‘revolt of the rubes’ in Flyover America.
This uprising against the rule of the financial and political elites has counterparts abroad among those who voted for Brexit in the UK, against Merkel in the recent German elections in her home state, and among the growing tide of anti-Brussels sentiment reflected in polls throughout the EC.
Needless to say, the political upheaval now underway is largely an inchoate reaction to the policy failures and arrogant pretensions of the establishment rulers. Like Donald Trump himself, it does not reflect a coherent programmatic alternative.
But my contention is that liberation from our current ruinous policy regime has to start somewhere — and that’s why the Trump candidacy is so important. He represents a raw insurgency of attack, derision, impertinence, and repudiation.
If that leads to throwing out the beltway careerists, pettifoggers, hypocrites, ideologues, racketeers, power seekers and snobs who have brought about the current ruin then at least the decks will be cleared.
David Stockman, “It Won’t Be Long Now — The End Game of Central Banking Is Nigh,” 2016/09/08. Image: detail of his forthcoming book.