I certainly have some issues with the Occupy movement, particularly now that it has spilled out into cities that are certainly affected by Wall Street, but seem to be too far from a power center to have much protest-related influence, but it’s not like I don’t understand the general frustration. However, part of the issue that most people seem to have with Occupy Wall Street is trying to understand exactly what’s being protested other than general grumbling over the distribution of wealth. The movement would be wise to just start directing those with questions with a blog post from Rolling Stone’s Matt Taibbi that ran yesterday, which seems to encapsulate just what’s wrong with America’s relationship with the world of investments. While I hate to spoil the ending, the last paragraph is a killer:
These inequities are what drive the OWS protests. People don’t want handouts. It’s not a class uprising and they don’t want civil war — they want just the opposite. They want everyone to live in the same country, and live by the same rules. It’s amazing that some people think that that’s asking a lot.
This article appears in Oct 20-26, 2011.
Oh please, this is just a party. I bet at least half of the participants know ZERO about Wall Street, investing, or the economy.
Yeah !!!!! Idiot like yourself know about “Wall Street, investing, or the economy” !! Sure!! Please tell us what percentage of GDP currently held and managed by Wall Street? Or tell us what percentage of our economy depends on consumer spending?
The 99%-ers are like the rest of us—some know a lot about investing and Wall Street and the big bank betrayal and some don’t. But in truth you don’t need to know a lot to be frustrated at the way the middle class and the poor have been treated the last 20-30 years, while the 1% have skyrocketed with wealth. Check out the figures and weep.
Consumer spending % of economy hmm you want me to say 70, but in good concious I can’t because that includes health care spending (only 15% is out of consumers pocket), money spent by nonprofits, political spending, even some government spending gets counted in your version of the consumer vs. the economy. Now the realty is that all the stuff you buy from China from TV’s to clothing represent 40% of economic spending. As far as % of GDP held by wall street I would hope that it is significant because that would mean that profits are being reinvested to create more capital and of course jobs.
dumb, useful idiots
Its a sad world when people judge people they don’t know. I am for the protestors. I know enough about Wallstreet. I have a family member who is a financial advisor. Its sad that people just assume that the protestors don’t work,are not educated,stink. I am not a magnet for the system,and I don’t stink. I have never excepted food stamps,or welfare,or any hand outs of any kind. Do other people like it when foriegners judge Americans? Then quit juding people you don’t know.
What the protestors want is to be paid better. They want to beable to live a decent life. A person cannot live under 10.00 an hour job. If a person works hard they should be paid better. An employer cannot run his business alone. The business owners can still hoard their millions. They can also afford to pay people better,instead of being so selfish,and greedy.
Stuff made in China is not of good quality. I buy American when I can. Buy American, give Americans jobs.
I not smart I not have money, me know nut-ting
Protesting and thinking it makes a difference to this 1% , is just plain stupid. Money talks and BS walks.
Do something with your MONEY, they’ll hear that and do something. Otherwise, youre just treading water and pissing off the taxpayers. ..which you dont seem to be.
This is the same Matt Taibbi who wrote a quintessentially ‘hit piece’ on US Soldiers & Marines in Afghanistan. Matt Taibbi made great use of hearsay and unattributed sources for his claim of US Soldiers as murderers. To back up the claim of murder, the RS posted videos of short and violent out of context segments of firefights of US Soldiers. US Soldiers/Marines often attach small video cameras to their uniforms and capture firefights. These videos are replayed in briefings and are given to other combat units to learn from the ever changing tactics of the Taliban. Matt Taibbi wrote/inferred that US Soldiers & Marines use video cameras in order to revel in the killings. These videos are integral in training our Soldiers and Marines on how to STAY ALIVE. Matt Taibbi is a scumbag of the highest order.
Re: the posting of Taibbi’s supposed “hit piece” on US soldiers…haven’t you read about the “Kill Squads” that are now on trial? These soldiers are now “turning” on each other; and many will be spending a long time in Leavenworth. They indiscriminately murdered innocent people–including women and children, families….for a “notch in their belt”. Educate yourself. Taibbi has done excellent reporting on the “Great Vampire Squid” that’s Goldman Sachs and the complicated derivatives and credit default swaps that cheated us taxpayers out of billions of dollars….only to get bailed out by….us taxpayers, in the form of TARP. Taibbi has the FACTS and explains it simply enough for the layman to understand. You can read many of his excellent articles at Rolling Stone.
OWS isn’t a “bunch of dirty hippies”–that’s being spread around by 1%-ers to discredit the movement; and those who are ignorant of the facts. They want a Financial Transaction Tax placed on Wall St. gambling thieves. They want an amendment disallowing the Citizens United ruling; because despite the ruling of SCOTUS, corporations are really NOT people. OWS are the 99%–myself included; and I’ve paid my taxes for decades, contributed to Social Security with each paycheck. What I’ve gotten in return are 2 wars longer than WWII, and America’s infrastructure erosion. OWS are nurses and teachers, middle-class Americans who’ve found themselves jobless and homeless, with hungry kids. If you’re not part of the 99%, then I guess you’re part of the 1%.