As far as I can tell, some people feel grumpy about democracy so they want to breathe life into a new American aristocracy. To thrive, this new aristocracy would need a psychological/spiritual wellspring which would provide its lords sublime permission to act. Usually such a wellspring takes the form of a monarch, but it can also be a salient noble idea like Liberty (or Columbia before her). Since America does not have a monarch and its reserves of salient noble ideas are beginning to look a bit like Lake Mead, these would-be Lords think they can cargo cult their way to prosperity by rehashing monarchy.

I really don't like monarchy, and I do fear the monarchy movement -- especially if energy costs start to spike and the Lord-peasant arrangement starts to become the lesser of several evils.