The libertarian moment has passed.
The iron hand in the velvet glove is coming.
It’s a variation on the prediction often echoed here that Sulla is on the way.
On the other hand, a popular groundswell of anger–the manifestation of which will dwarf the size and scope of both the Tea Party and Occupy Wall Street combined–is on the horizon. Its primary target will be the financial industry and the Federal Reserve enthroned in its center. Just as socialists say real socialism has never been tried, libertarians say real libertarianism has never been tried. Certainly not since 1913, anyway.
The strength of our political union is also going to be tested in ways it hasn’t been since the middle of the 19th century. As much bad blood as there is between red and blue America, the states remain bound together by the shared promise of federal bailouts for hopelessly underfunded pensions, Medicare, bond issues, and the like. As long as the Imperial Capital is able to conjure that funding out of its hat, the country will hold together. If that federal lifeline becomes a millstone, though, separation will start to look like a necessity. Forget the confederate secession, real libertarians want to know why Massachusetts didn’t pull the plug fifty years earlier.