Is this 1828 – 1832 all over again? 2016 U.S. Presidential Election, by Martin Armstrong, 4/7/16
From the outset,
inside sources have relayed that Cruz is very disliked behind the curtain. His
entire strategy from the beginning has been to be the last man standing against
Trump. Cruz assumes the party will install him despite the fact that most
really dislike him.
All the exit polls
show that more than half of the voters in this Republican primary are
merely “dissatisfied” with government, compared to one-third
who are outright “angry.” The voters in Wisconsin seem to be in Never-never
Land, and, for the most part, they want someone
with experience. That is how the USA will implode for nobody in the
establishment gives a shit about the people; this is all about them. So that
experienced candidate will be a vote for more of the same.
Nevertheless, we have
to understand that we have two major risks in politics. First, the
establishment may not select Trump or Cruz. If they can simply defeat Trump on
the first ballot then all bets are off and they can nominate someone who did
not bother to run like Romney.
If Trump does not get
the Republican nomination, then if he is smart, he could get on the ballot as a
Libertarian since they have already done the heavy lifting. Alternatively,
Trump could get on the ballot in a few states and win those but not the general
election. This could prevent either the Republicans or Democrats from winning
enough votes for the Electoral College whom really votes for president.
If no one wins enough
Electoral College votes, it will be the ultimate demonstration that we do not
live in a democracy by any measure. A failure for any candidate to win the
required votes at the Electoral College means the current establishment on
Capitol Hill gets to select the next president.
The election of 1824
is an example of how the establishment can do as they like. Andrew Jackson
won 153,544 popular votes to John Quincy Adams won 108,874 popular votes.
Neither won the Electoral College so Congress picked the president and Jackson
lost. When Jackson finally became president in the 1828 election. Jackson did
two major things that were against the establishment. First, he actually paid
down the national debt. President Andrew Jackson reported that the United
States would be debt-free as of January 1, 1835. This marked the first and only
time that the United States, or any other major nation in history, had ever
been free from debt.
Jackson declared: “Let us commemorate the payment of the
public debt as an event that gives us increased power as a nation and reflects
luster on our Federal Union.”
In the course of this
objective, Jackson generally opposed bills that allocated taxpayer money for “internal improvements” or
what we call “pork barrel spending” today. In the 1863 popular story “The Children of the Public,” Edward Everett Hale used
the term “pork barrel” as a homely
metaphor for any form of public spending to the citizenry. However, after the
American Civil War, the term’s usage turned derogatory.
Andrew Jackson
despised the Second Bank of the United States, not because it held too
much power over the economy, but because his political enemies controlled it.
Jackson set out to
destroy the bank for it had provided loans to his political rivals. The bank’s
president, Nicholas Biddle (1786-1844), routinely used lending practices for
political gain, including using bank funds to publish newspaper attacks on
opponents as some money-center trading banks in NY engage in to this day. Biddle openly favored the National
Republicans (later to become the Whig Party), many of whom benefited
financially from Biddle’s favor.
Prominent National
Republicans were Congressmen Daniel Webster (who was on the bank’s payroll as a
legal counsel) and of course Jackson’s archenemy, Henry Clay, who was
his opponent in the 1832 presidential election.
It is ironic that New
York bankers today own Cruz and Hillary. Both engage in methods to fund their
elections that are not much different from the actions of Biddle. Those who
want to see the Federal Reserve eliminated, citing what Jackson had done, fail
to understand what really took place. The destruction of the Second Bank of the
United States resulted in the Panic of 1837, the sovereign debt defaults of
states in the 1840s, and a severe economic decline that set the stage for the
Civil War. The parallel to today is not the Federal Reserve with political
power, but the New York bankers.
Our models are
starting to highlight Panic Cycles hitting in August. This will start just
after the Republican Convention. If we go to the extreme in this collapse of
confidence in government, then we may see a repeat of the 1828 election.
However, we are also in a battle against the establishment and Trump is closer
to Andrew Jackson than anyone else running for office. So the future looks like
a political war ahead that is going to turn everything upside down. The
establishment is focused on defeating Trump; they think everyone will go back
to watching soap operas and sports and they can rob us and our children blind
as always.
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