Oh No, Populism!

There is a whiff of populism in the air and so, not surprisingly, some liberals are scared. Over at The New Republic, Walter Shapiro has written a piece warning that the real threat to the Obama administration may come not from Republicans on the hard right but from "a corrosive anti-establishment rage" that's spinning out of control. Shapiro frets over a poll in late February that revealed (gasp!) that "only 30 percent" of Americans believe "most successful people on Wall Street deserve to make the kind of money they earn." If the anger doesn't die down, the article suggests, "pitchfork-wielding voters" will block future bank bailouts and bring the Obama administration to its knees.

This is, to put it plainly, nonsense. It's certainly true that populist rage against elites in America has sometimes taken ugly forms (see, for example, Father Coughlin, or the variety of examples Richard Hofstadter documents in The Age of Reform). But, as E.J. Dionne notes here, leaning on the fine historian Michael Kazin, disgust and anger at unrestrained greed has also been channeled into constructive movements that have exposed corruption and enhanced the "common welfare."

For all the "pitchfork-wielding voters" supposedly out there, Obama remains immensely popular. His bank bailout plan may not be, but that's not because voters have become too enraged to think - it's because they are justifiably worried money may be tossed at institutions that don't deserve it, with taxpayers left to pick up the tab. This purportedly irrational fear is shared by, among others, Nobel Prize-winning economist Paul Krugman, who has described the administration's latest bank rescue plan as a "heads-you-win, tails-we-lose proposition" for investors - one that will not, in his view, solve the credit crisis. If Krugman is right, and the plan doesn't change, there will indeed be plenty of populist rage at the Obama administration, but the administration will have only itself to blame.

Comments (38)

1. i'll get the pitchfork...y'all bring the torches, axes, rope, gasoline, and marshmellows!!!!

   HEADS ON POLES!!!! HOOOOEEEEY!

   sounds like fun...

   Posted by dexter666 at 03/19/2009 @ 4:37pm

2. PRESS: Obama remains immensely popular.

   Around 60% is considered "immensely"? Uh, ok!

   IF your job (at The Nation?) has a 60% probability of NOT being cut, do you feel "immensely" secure?

   But, hey, he's half-black.....so maybe 60% is indeed, immensely impressive!

   Posted by Happy at 03/19/2009 @ 4:44pm

3. Posted by Happy at 03/19/2009 @ 4:44pm

   That was just asinine.

   Posted by V at 03/19/2009 @ 5:02pm

4. But, hey, he's half-black.....so maybe 60% is indeed, immensely impressive!

   Posted by Happy at 03/19/2009 @ 4:44pm | ignore this person | warn this person

   ohhh...my wickednes has enboldened thee!

   watch out hap lest the PC thought police show up.

   but 60% is indeed pretty immense compared to 28-29% for ol' mushmouth...

   Posted by dexter666 at 03/19/2009 @ 5:03pm

5. That was just asinine.

   Posted by V at 03/19/2009 @ 5:02pm | ignore this person | warn this person

   LOL! that really WAS grade A, #1 asinine, wasn't it???

   LMAO!

   classic HAPPY!!!

   he's gettin banned again soon...LMAO!!!

   YAY HAPPY!!!!

   Posted by dexter666 at 03/19/2009 @ 5:06pm

6. But, hey, he's half-black.....so maybe 60% is indeed, immensely impressive!

   Posted by Happy at 03/19/2009 @ 4:44pm | ignore this person | warn this person

   "90% of the game is half mental."

   john madden

   conclusion - 45% of the game is mental

   Posted by dexter666 at 03/19/2009 @ 5:14pm

7. I dont know half of you half as well as I should like, and I like less than half of you, half as well as you deserve.

   -- Bilbo Baggins, Lord of the Rings

   Posted by dexter666 at 03/19/2009 @ 5:17pm

8. 60% 60 days in? LOL! This dirtbag's ( Obama ) ship is sinking fast LOSERS! Under 50% within 2 mos., under 40% by end of year, under 25% by mid-2010. Mark my words you seditious little twerps!!!!!! This administration is already, by far, the most embarrassingly incompetent of all time, and it's only going to get funner to watch. This is what you loser libs asked for, and I am really enjoying watching you get it. The negative effects of this administration will negatively affect most of you loser libs long before it'll affect me! LOL!!!!!!! Remember a couple weeks ago when you little twerps were bitching about republicans blocking the STIMULUS which they weren't even allowed to read? Well, guess what idiots? This is what happens when you pass legislation that you haven't even read MORONS! Kinda like Hillary Clinton voting on based on intelligence given to her, but she hadn't got around to actually reading it before she voted ( that's ok, most of it was from her Husband's administration anyway). FOOLS!!!!!

   Posted by barry25 at 03/19/2009 @ 6:13pm

9. barry25 is what you'd might call a "bad trip"

   Posted by darladoon at 03/19/2009 @ 6:17pm

10. Its troll expunging time! Twistin' time is here!

    Posted by Sorelish at 03/19/2009 @ 6:26pm

11. One can only hope that President Obama is forced to lose his Treasury Secretary over these issues. Mr. Obama has acted as a bought and sold asset of Wall Street, and in particular, the Clinton re-treads that have been handed control of the Treasury and the financial system need to be shown the door.

    Posted by syfriendly at 03/19/2009 @ 6:41pm

12. It's about time the public got angry about something, anything, enough to threaten a Washington, DC political agenda.

    Posted by syfriendly at 03/19/2009 @ 6:55pm

13. There is definitely an Ancien Regime cluelessness about the attitude of our financial masters of of the universe and Geithner, Summers, Bernanke and the congressional committee chairs fashioning the bailouts. They don't get the old regime is gone, and they cannot restore it. And when the public very rationally gets angry, they don't know what to do.

    So they sell. Bernanke on Sixty Minutes, the regular guy who made good, is angry too, but warns of a lack of will to do what is necessary to preserve these institutions, and Summers on ABC is also angry but instructs that we are a country of laws. And tonight Obama is on Jay Leno to assure he gets it but we still have to pay and pay. And Dodd and Geithner really knew about the bonuses, and now deflection as congress trips over itself to "get our money back".

    The purpose remains to insure public money keeps flowing. It remains the endless bailouts to maintain the pretense AIG and the others remain private, solvent and financial markets still work that is rejected. The public does know what is at stake and says no. The world has changed. The old regime is gone.

    All the while the financial universe is still dreaming. Vicram Pandit is spending to redo Citigroup's executive office suites as Thain of Merril did before him. CNBC speaks of a "war on wealth" and those angry at what is going on its anchors refer to as the "mob".

    The world of Marie Antoinette goes on....

    Charlie M.

    Posted by cmsandia at 03/19/2009 @ 7:32pm

14. It's about time the public got angry about something, anything, enough to threaten a Washington, DC political agenda.

    Posted by syfriendly at 03/19/2009 @ 6:55pm

    The righties have jumped right back to the clinton days of attack, condemn, impune, negate, and criticize anything done by the president, without even giving the guy a chance. Good grief he has only been the president for 8 weeks. Yet they are already blaming him for all of the countries problems.

    BTW I rarely use the ignore feature, but I used it rather quickly with barry, nothing but a troll.

    Posted by Extraneous at 03/19/2009 @ 7:36pm

15. Nawwwwww, barry's fun.

    He's sort of the poo-flinging monkey to your average Dr. Zaius right-winger.

    Posted by Mask at 03/19/2009 @ 8:30pm

16. Posted by Extraneous at 03/19/2009 @ 7:36pm | ignore this person | warn this person

    You might actually instead use an "ignore filter" on regular American mass media news, when it comes to the Republican party and what passes for a "right wing". That political movement is completely discredited at this point. They have not been able to re-organize themselves around any central idea, ideology, or policy agenda that has not been rejected by voters, so, instead, they have become the "party of 'no!'". The Obama presidency can already be fairly criticized - many people thought he made ridiculous Cabinet appointments, in particular, the Treasury and economics team - but Republicans and most conservatives at this point have not found a reason to exist that resonates with most voters and are ridiculous. Take a look at them, they are seriously acting as if Rush Limbaugh, a quasi-degenerate radio entertainer who is something a lot like a "motivational speaker" at best, is their national party figurehead. Just tune them out, you'll be a little better off.

    Posted by syfriendly at 03/19/2009 @ 9:30pm

17. Posted by Extraneous at 03/19/2009 @ 7:36pm | ignore this person | warn this person

    Are you really letting the foolish online posters who subscribe to a political party that has - unbelievably - based the aspirations of its next presidential contenders on which of them, as governors, are willing to reject unemployment insurance assistance to the unemployed residents of their states, from the Federal government during an economic crash. Is this a faction you should concern yourself with, or get angry about? Instead you should feel sorry for the people who live under their governance in these states, as the governors who wish to be the next presidential contenders all struggle along with an albatross named "George W. Bush" hanging from their necks.

    Posted by syfriendly at 03/19/2009 @ 9:39pm

18. Posted by snowball666 at 03/19/2009 @ 9:45pm

    Doesn't that sound like a conservative?

    Throw in the rejection of evolution and science...although they do put their damn dirty ape hands all over Charleton now in a more LOVING way...heheh

    Posted by Mask at 03/19/2009 @ 9:53pm

19. Posted by snowball666 at 03/19/2009 @ 10:08pm

    Oh yeah, that's right. He finally set off the Alpha-Omega bomb didn't he?

    Posted by Mask at 03/19/2009 @ 10:36pm

20. One of Obamanations finest remarks displaying a full return to his leftist smobbish elitism is final!

    "How do you top trying to make injured veterans pay for treating their own war wounds? Maybe by making fun of disabled athletes.

    The first appearance by a sitting president on "The Tonight Show" may well end up being the last. President Obama, in his taping with Jay Leno Thursday afternoon, attempted to yuk it up with the funnyman, and ended up insulting the disabled. Towards the end of his approximately 40-minute appearance, the president talked about how he's gotten better at bowling and has been practicing in the White House bowling alley. He bowled a 129, the president said.

    "That's very good, Mr. President," Leno said sarcastically.

    It's "like the Special Olympics or something," the president said.

    When asked about the remark, the White House had no comment.

    What's next, tripping elderly nuns? He's very lucky he's not a Republican."

    Posted by comancheamerican at 03/20/2009 @ 02:22am

21. That was just asinine.

    Posted by V at 03/19/2009 @ 5:02pm

    As is Happy.

    Posted by Wolfgang1 at 03/20/2009 @ 09:26am

22. I'm glad that we, the dirty finger nail, crowd have proudly taken the subtle put down badge of populism. Nah we aren't going to hurt the greedy buggers but I would really like to know what gluttony looks like. We have been so cowed by the ten percent of us who are millionaires/billionaires that all we want is food for our kids and a place out of the rain and snow and maybe a meal for ourselves once in a while. I mean we haul away their garbage and clean out their cesspools don't we deserve something. I don't mean communism I mean make the rules of the game fair. I'm only three feet tall, I can't play basketball against you, but maybe we could sit down for game of chess. OK so I don't smell so good that's called sweat. Go tell Santelli, Haines, Bernet and Kudlow will you, never mind the bubble brain Cabrera.

    Posted by julien38 at 03/20/2009 @ 10:56am

23. smobbish?

    Typo or deliberate "clever" misspelling?

    It's time to declare smob rule!

    Posted by Misheley at 03/20/2009 @ 11:35am

24. Would this be acceptable?

    smob IQ >= comancheamerican IQ

    Posted by Misheley at 03/20/2009 @ 1:39pm

25. No Lobbyists? Lie! Change? Lie! Transparency? Lie! Not the same old washington politics? (with an administration full of proven tax cheats and pardoners of terrorists and arms dealers ) LIE, LIE, LIE!!!! Obama was given a chance, a chance to PROVE to all the fools who voted for him that he's nothing but a cradle-to-grave LIAR! These are facts, he's lied repeatedly, and it cannot be disputed. Anyone wanna talk about Dodd, Frank, Waters, or Rangle ( liars, tax cheats, in the pockets of Wall Street etc. )? Ya, I thought not!

    Posted by barry25 at 03/20/2009 @ 2:10pm

26. Those who can DO, those who can't ( libs ) teach or work for the gov't!!!!!!!! LOL

    Posted by barry25 at 03/20/2009 @ 2:12pm

27. As far as an overall goal I offer this;

    smob IQ > comancheamerican IQ && smob IQ > 43

    Posted by Misheley at 03/20/2009 @ 2:13pm

28. I humbly rescind my last post, I have corrected it, it should now read:

    As far as an overall goal I offer this;

    smob IQ > barry25 IQ && smob IQ > 43

    Posted by Misheley at 03/20/2009 @ 2:30pm

29. 25 < 43...not a problem.

    Posted by snowball666 at 03/20/2009 @ 2:32pm

    Come on now fellas, don't you know that barry's 25 years old.....his IQ is 12. Don't be so hard on the guy. It's hard enough on him to type his messages and not pee and drool all over himself.

    Posted by Wolfgang1 at 03/20/2009 @ 4:05pm

30. Responses are truely representative of the caliber and intellect of voter Obamanation turned out! They are capable of catching spelling errors and commenting on them. At least they possess one skill! Now go collect your "dole" check!

    Posted by comancheamerican at 03/20/2009 @ 4:38pm

31. Actually that's 2 skills, spelling and computer programming. See my posts contained sly programming references, (once you have to explain the joke it aint' funny). Also, to be a good programmer you have to be able to use logic. Holy Crap! I have 3 skills! Don't hate the player baby, hate the game.

    Posted by Misheley at 03/20/2009 @ 5:17pm

32. barry25 was right, government workers=dole=?

    Posted by comancheamerican at 03/21/2009 @ 12:11am

33. Obamanation was totally WRONG! He is not good enough to bowl in the special olympics!!!

    "The top bowler for the Special Olympics looks forward to meeting President Barack Obama in an alley.

    "He bowled a 129. I bowl a 300. I could beat that score easily," Michigan's Kolan McConiughey told The Associated Press in an interview Friday.

    The athletic-minded president made an offhand remark Thursday on "The Tonight Show" comparing his weak bowling to "the Special Olympics or something." He quickly apologized and told the Special Olympics chairman he wants to have some of its athletes visit the White House to bowl or play basketball.

    McConiughey, who is mentally disabled, is just the bowler for the job. He's bowled five perfect games since 2005.

    The 35-year-old McConiughey has been bowling since he was 8 or 9. His advice for Obama? Practice every day."

    I wonder what would have happened if a republican has been on Leno's show?

    Posted by comancheamerican at 03/21/2009 @ 01:28am

34. Maria Bartiromo and her corporate monkeys have given us a new title. Populist Demigods. wear it proudly legions.

    Posted by julien38 at 03/21/2009 @ 09:34am

35. God I love the image of the Shay's rebellion.

    Posted by julien38 at 03/21/2009 @ 11:20am

36. I am too tired of this centrist nonsense. That's why I'm having a change of scenery and will depart for Belgium tomorrow. I'll still be the Western world but I won't have to everyday confront the wrongdoings of the establishment whether it aligns with the conservative or the centrist views of the world. So far I'm disappointed with the Obama administration and I wonder how many voters will turn out for the next presidential election. This administration gives support to the wealthy Wall Street crowd thereby turning off politics ordinary citizens like me.

    Posted by crackfox at 03/22/2009 @ 05:22am

37. Posted by crackfox at 03/22/2009 @ 05:22am

    If that's what turns you off of politics, why did you elect him in the first place?

    So many want to act offended and disappointed with Obama's performance thus far, and good or bad, it is nothing different from what he has been all about from day 1.

    But of course that means all of his "fans" would have actually had to look at his campaign platform, or know something about him other than the fact that he makes pretty speeches.

    The only people who have ever told a different story are the "CHANGE" crowd.

    Such tools some people are.

    THINGS ARE GONNA BE DIFFERENT NOW! HE SAID SO! DERRRR!

    Posted by TexasFlood at 03/23/2009 @ 8:58pm

38. And don't pick on Barry.

    Don't you remember? He's a millionaire living with his hot wife, riding jet skis all day every day. He has all the answers and knows how to REALLY work while the rest of us peons just collect welfare checks.

    Too bad that on the way to making his first million, he never learned to read or write :-(

    Posted by TexasFlood at 03/23/2009 @ 8:59pm