"Fascism's success almost always depends on the cooperation of the "losers" during a time of economic and technological change. The lower-middle classes--the people who have just enough to fear losing it--are the electoral shock troops of fascism (Richard Hofstadter identified this "status anxiety" as the source of Progressivism's quasi-fascist nature). Populist appeals to resentment against "fat cats," "international bankers," "economic royalists," and so on are the stock-in-trade of fascist demagogues."