We’re in a hell of a mess in every direction

Some interesting comments from former Federal Reserve Chairman Paul Volcker in this article:

“We’re in a hell of a mess in every direction,” Volcker told the Times. “Respect for government, respect for the Supreme Court, respect for the president, it’s all gone. Even respect for the Federal Reserve. And it’s really bad. At least the military still has all the respect. But I don’t know, how can you run a democracy when nobody believes in the leadership of the country?”

“The central issue is we’re developing into a plutocracy,” Volcker told the Times. “We’ve got an enormous number of enormously rich people that have convinced themselves that they’re rich because they’re smart and constructive. And they don’t like government, and they don’t like to pay taxes.”