Really? Do you know your economic history? I bet you didn't know that sound money, anti-central bank, pro-free trade, which are all considered fringe Republican thinking nowadays, actually used to be hallmarks of the Democrats. To whit, Andrew Jackson, a former President was famous for those stances. The reason the Democrats are starting to lose their popularity, with Obama's approval rating at an all time low is that younger Americans are far more Jacksonian in their economic stance than the Democrats today. Most people nowadays are socially liberal, and yet, economically conservative. That drives both parties nuts, because none of us in the majority can be easily classified as GOP or Democrat. Both parties need to change, if they want to have a shot at future leadership.
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Jackson’s withdrawal of federal deposits from the bank proved decisive. The Second Bank of the United States was liquidated in 1841 and Biddle died in 1844. Although the “bank war” is now central to the “Jacksonian Democracy” narrative that is Jackson’s legacy, it also dovetailed with the politics of the time. Democrats rode their party’s egalitarian reputation and negative-government principles (pro-sound money, pro-free trade, anti-central bank) for the next six decades. forbes.com |
