Monday, June 6, 2011

Carville: Civil Unrest ‘Imminently Possible’

James Carville, President Clinton's top political adviser is warning about potential unrest in the country. He told “Imus in the Morning” on the Fox Business that if the economy continues like it is, "“People, you know, if it continues, we’re going to start to see civil unrest in this country. I hate to say that, but I think it’s imminently possible.” The full clip of the interview is below. Carville is a hardcore political operative, so it is not clear what the purpose of his warning is, but unrest down the road is certainly a possibility, especially when price inflation kicks in at double digit levels. Needless to say, his overall economic analysis is a bit shallow. He obviously has no understanding of the business cycle and what causes it. But the warning about unrest is interesting.

economicpolicyjournal