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Wednesday, 12 October, 2011

What The OWS Protests Are About
(with comments)

A pretty good summary, with lots of charts: Here's What The Wall Street Protesters Are So Angry About.

So, what are the protesters so upset about, really? Do they have legitimate gripes? To answer the latter question first, yes, they do. They have very legitimate gripes.

And if America cannot figure out a way to address these gripes, the country will likely become increasingly "de-stabilized," as sociologists might say. And in that scenario, the current protests will likely be only the beginning.

The problem in a nutshell is this: Inequality in this country has hit a level that has been seen only once in the nation's history—at the end of the 1920s. Unemployment has also reached a level that has been seen only once since the Great Depression.


Permalink | Posted in General |

- Reader Comments -

Following are comments in response to this item.
The most recent comment is at the bottom.

  1. By wok. Comment posted 12-Oct-2011 @07:31am:
    Smash the System! Re-elect Obama!
  2. By Halford. Comment posted 12-Oct-2011 @08:01am:
    The system has been smashed for many years. The peasants suspect that they might be screwed and are squawking is the difference today. The peasants also seem to believe that they have little to lose and are free.

    Making "Masters of the Universe" nervous is a good outcome of the OWS protests. This is because the "Masters of the Universe" can conceive that free people might lynch them. This possibility could encourage a few of the mighty to reduce economic inequality in the US, if only for their enlightened self-interest.
  3. By deciBelcat. Comment posted 12-Oct-2011 @08:12am:
    Unlike the peasants who inspired Marie Antionette to remark "Why, let them eat cake" and the people who overthrew the Czar in 1917, American protesters have worldwide media coverage.
  4. By deciBelcat. Comment posted 12-Oct-2011 @08:14am:
    This is because the "Masters of the Universe" can conceive that free people might lynch them.


    The "Masters of the Universe" are well aware of the American peasants' Second Amendment rights.
  5. By Gee.... Comment posted 12-Oct-2011 @08:22am:
    I was at my Mom's and when she's mad at me she puts FAUX News on TV.

    The difference in coverage was surprising. I guess I shouldn't have been surprised, but I really was.

    Every other news source talks about the protesters points like over-powerful corporations, inequity in taxation, the unpunished financial industry and others.

    FAUX News had nothing but pundits on...they talked about how the Tea Baggers were so much more orderly.

    The thing that really got me was how badly they twisted what the protesters were asking for.

    They said that the protesters were communists and they wanted to re-distribute the wealth, destroy democracy, get something for nothing, silly crap like that ...small, simple sound bites that I've already noticed FAUX News watchers repeating.

    FAUX is so far to the right they've fallen off the chart. They don't care how false their reporting is.
  6. By Gee.... Comment posted 12-Oct-2011 @08:32am:
    This article says it very well, especially since it comes from a tiny town:

    http://www.mountainhomenews.com/blogs/kellyeveritt/entry/43960/
  7. By deciBelcat. Comment posted 12-Oct-2011 @08:40am:
    They said that the protesters were communists and they wanted to re-distribute the wealth, destroy democracy, get something for nothing, silly crap like that ...small, simple sound bites that I've already noticed FAUX News watchers repeating.


    You must have missed the parts where they were claiming that the protests are happening because the Democrats are jealous of the successes of the tea party.
  8. By bifocal sunday. Comment posted 12-Oct-2011 @09:34am:
    Spread the wealth. Socialism now.
  9. By Bisbonian. Comment posted 12-Oct-2011 @11:09am:
    Right on. Thanks for joining us, nitwit.
  10. By Mr. Pointer Outer. Comment posted 12-Oct-2011 @01:15pm:
    i liked him better when he was scot.
  11. By Ense. Comment posted 12-Oct-2011 @01:37pm:
    I went to the Occupy Houston event last week. We want more income equality, but not primarily through government income redistribution, though that has a part to play. We mostly want income equality through changing banking laws and restricting corporate influence such that majority of Americans are less likely to get screwed out of their wealth.

    Here's the best summary of what OWS is all about

    http://www.youtube.com/watch?v=wK1MOMKZ8BI&feature=feedf

    We all should get behind this.
  12. By Spokane Mary. Comment posted 13-Oct-2011 @01:38pm:
    Twenty years ago the word was you had to get a college degree if you wanted to have a job in the future. Good jobs were scarce even then, so everyone went to college and got a degree. They came out of college with a letters behind their name and an enormous amount of student loan debt - and they're making $10 an hour at a crappy job that has nothing to do with their field of study - if they're lucky enough to have a job at all.

    When this "Occupy" movement began, there was a website with 100 or so people who had taken one sheet of paper and written the specific problems that were making life so difficult for them. The consistent thread running through those papers, no matter the age/location/gender/marital status, was student loan payments. Whether they can afford food, medicine, shelter - the very basic needs - or not, they must pay on their student loans - they'll garnish your wages if you don't, period. Bankruptcy isn't an option; those loans are untouchable.
  13. By Spokane Mary. Comment posted 13-Oct-2011 @01:52pm:
    It strikes me that this country has many smaller countries we count as allies, countries that are in debt to the USA. Once in awhile, one of those countries has a major crisis that nearly devastates their economy and when that happens, the United States writes off their debt - forgives it.

    IF the USA would just straight-across-the-board write off all student loan debt - this for its own citizens, it would turn this economy around instantaneously. The low wages people are earning would cover their bills and perhaps leave them a little bit to spend or save. It would likely dramatically reduce the need for property foreclosures and, importantly, it would give them hope for a decent future.

    I firmly believe that nothing would give this entire country an economic boost as quickly and satisfactorily as forgiving /writing off the massive debt for Americans who put their lives on hold in order to obtain an education. People are sinking in student loan quicksand.
  14. By wok. Comment posted 14-Oct-2011 @03:09pm:
    "IF the USA would just straight-across-the-board write off all student loan debt - this for its own citizens, it would turn this economy around instantaneously."

    Harebrained an idea as ever. And even more unlikely. WHEEEE.
  15. By Dinsdale Piranha. Comment posted 14-Oct-2011 @04:08pm:
    IF the USA would just straight-across-the-board write off all student loan debt

    where will those trillions come from?

    and it is in the trillions ya know
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