Newt Gingrich Says 'Crony Capitalism' is Damaging Middle Class

Newt Gingrich’s campaign is taking a “populist” tone after devastating losses in Iowa and New Hampshire.

Gingrich said in a campaign speech in South Carolina that the current establishment turns a blind eye to “crony capitalism,” which diminishes freedom in business ventures.

“Don't talk about who got all the money. ... Can't we can't just move forward letting the rich keep all the money?” said Gingrich. He went on to say “Crony capitalism” weakened free enterprise, according to the report.

Since he came in fourth place in the Iowa Caucus and New Hampshire primary, Newt may be taking a page from Ron Paul’s book by trying to distance himself from the candidates in order to appeal to new voters. Ron Paul who is staunchly anti-Federal Reserve and anti-military has moved up in the primaries. Paul came in third place in Iowa behind Rick Santorum and Mitt Romney and then second place in New Hampshire.

Like Paul, who in his speeches stresses how excessive interference by the Federal Reserve and exorbitant military spending effects the common taxpayer, Gingrich spoke directly to the people saying it is the establishment and the rich that is causing much of today’s economic woes.

“I want you to know that I am running precisely because, as an Army brat from a middle-class family who taught in college, I think middle-class, taxpaying, working families deserve a government that is honest,” he said.

Fox News reports that Gingrich quickly toned down the populist talk when later confronted by a voter at a town hall meeting in Spartanburg. The man told Gingrich he should stop the anti-corporate rhetoric and focus on Romney’s inconsistencies if he intended to court the conservative vote. Gingrich said it was President Obama’s fault for initiating class warfare language.

“It's an impossible theme to talk about with Obama in the background. Obama just makes it impossible to talk rationally in that area because he is so deeply into class warfare that automatically you get an echo effect, whichm as a Reagan Republican, frankly never occurred to me until it happened. I agree with you entirely,” Gingrich said.

The Associated Press reports that Gingrich, a career politician who has made millions himself, may have a hard time convincing struggling South Carolinians that he is for the working class. He was nonetheless met with large crowds and cheers during his campaign gatherings.

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