August 11, 2010
Not a shocker… just a disappointment that once again illustrates the reality of politics in America.
The millionaire former head of WWE, Linda McMahon, won the Connecticut GOP primary last night– having outspent her opponents and enjoying name recognition from her wrestling celebrity, as well as having the GOP establishment behind her– beating out Peter Schiff.
Schiff is the CEO of Euro Pacific Capital. He predicted the current financial crisis, appearing on numerous television shows years ago warning that the United States economy was heading for a meltdown while being laughed at by mainstream media pundits, many of whom advised viewers to invest in firms that ended up going bankrupt. In 2006 Schiff was even challenged to bet a penny that there was no risk of a recession by former economic advisor to President Reagan, Art Laffer, who had accused him of being “way off base” in his predications.
Since then not only has that recession come, but it’s now being classified as a depression.
Though the GOP portrays itself as the party of family values, Linda McMahon’s business glorifies brutal violence (including violence against women), and has been accused of encouraging steroid use of its wrestlers. McMahon spent $22 million on her primary campaign and has pledged to spend even more in the general election. Promising to be a “voice for change” Linda McMahon will go on to battle Democrat Richard Blumenthal for the Senate seat.