Our friend and sometime contributor Leah Nelson has a post up over at the SPLC's Hatewatch site examining that fringe world between far right and far left -- dominated by the rightist element, in the person of Alex Jones and his proto-Patriot conspiracy shop.
In this case, it's these pseudo-economists who put out conspiracist newsletters to investors -- their most recent theory being that President Obama is plotting to defy the Constitution and ensconce himself for a third term come 2016 -- whose Planet Bizarro version of reality gets a good sharp look:
The star of the show is a fellow named Porter Stansberry, a scam artist/"financial guru" convicted of making over a million dollars selling false "inside tips" (he claimed a First Amendment defense) and was subsequently fined $1.5 million by the SEC.
Evidently soured on the government by his brush with the law, Stansberry has turned from scam artist to antigovernment radical, using various Internet publications to mix dubious investment advice with apocalyptic warnings about a coming era of tyranny that will destroy America.
His most recent insight? According to a YouTube video distributed across a multitude of far-right websites and discussed with great seriousness by figures like antigovernment conspiracist Alex Jones, President Obama is planning to overthrown the Constitution, implement socialism, and seize a third term in office.
According to Stansberry, Obama won’t even have to use force to do it. Instead, the president plans to buy his third term with untold profits gained from mining America’s vast shale oil deposits, which will lead to an era of extraordinary prosperity unlike anything America has seen before.
“All of this new wealth,” Stansberry says, “will seem like a gift from the Prophet Muhammad to the administration of Barack Obama.”