According to Steve Bannon, 2016 was the inevitable result of 2008. Angry at an establishment that had initially tolerated the predatory practices of Wall Street financiers, and then had bailed them out, the peasants with pitchforks rose up and elected Donald Trump. Trump’s limits on immigration and tariffs (loathed by the financiers) will lead to a new golden age for American manufacturing–just you wait! Wages for workers will soar, and America will be great again!
I hear you snickering. Stop it!
Of course, this narrative ignores inconvenient facts and distorts others, including the following:
- In 2012, after four hard years of the Great Recession, the peasants rose and nominated . . . Mitt Romney.
- Bernie Sanders lost the nomination to Hillary Clinton in 2016.
- Trump only won a plurality of GOP votes–not a majority.
- Clinton won the popular vote by a substantial margin.
- Trump spent far more time denouncing Mexican rapists than Wall Street vampire squid during the campaign.
- Once elected, Trump stuffed his cabinet with Wall Street billionaires and signed a tax cut which gave virtually all of its benefits to the wealthy. He continues to bash immigrants on a daily basis. Wall Street–not so much.
- The tariff and immigration program has done nothing for American prosperity to date, and won’t bring jobs back in the future.
Leaving aside the holes in the narrative, there are two interesting aspects to it. First, Bannon clearly doesn’t subscribe to the bogus GOP counternarrative that it was the Democrats and the federal government, not the vampire squid, who caused the Great Recession. Second, his rhetoric about Wall Street in the New York Magazine interview could come straight from the mouth of Bernie Sanders.
In the end, right-wing and left-wing American populism may be brothers, not distant relatives.