Beggar's Banquet

I stuck around St Petersburg
When I saw it was a time for a change
Killed the czar and his ministers
Anastasia screamed in vain
--Rolling Stones

As Fannie Mae (FNM), Freddie Mac (FRE), and other financial institutions line Capitol Hill looking for handouts, Jim Grant ponders why U.S. citizens are not outraged. Although he offers many plausible reasons for the lack of Everyman's wrath, his favorite theory is that the Populist Party actually won their battle to overthrow capitalism over a century ago. In Jim's words:

"They had demanded paper money, federally insured bank deposits and a heavy governmental hand in the distribution of credit, and now they have them. The Populist Party might have lost the elections in the hard times of the 1890s. But it won the future."

Sadly, an excellent observation.

It's increasingly difficult for me to see how our country's socialistic trends can be peacefully reversed in the name of liberty. Emphasis on 'peacefully.'

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