Kevin Duffy on the cyclical nature of the libertarian movement

Before getting too down on the libertarian movement, it helps to look at where we are in the cycle.  Ron Paul's popularity peaked around 2008-10 alongside the Great Financial Crisis.  12 years of bull markets and the greatest financial bubble in history later, it's incredible the movement even has a pulse. 

The crowd is completely detached from reality.  Signs in the financial markets include Tesla exceeding Berkshire Hathaway in market cap, Robinhood, day trading, option buying, SPACs, and the hottest IPO market since 2000.  The Fed can do no wrong.  No surprise, a parallel mania is taking place with Covid and worship of the medical authorities.  There is no way 2020 madness happens in a bear market.  These bubbles will burst as they always do.  Our job is to poke fun at them, not to convince people.  Sure, you might be able to convince a few, but the vast majority are in la la land.  Only when the bubble bursts will people be desperate for answers and ready to consider the non-interventionist point of view. 

For promoters of liberty, today's famine is tomorrow's feast.

~ Kevin Duffy, comment on The Tom Woods Show podcast, December 20, 2020