Nationswide protests-will they spread?

[briansd1]

[quote=Arraya]Man, late-stage capitalism is going to be interesting.

I hate to break it to you guys but it doesn’t fucking matter what you believe but we are a multifaceted, slow motion social train wreck.

It’s like you are all in some mass hallucination and can’t see the glaringly obvious.
[/quote]

Well, every society eventually declines and collapses. The business model of the Roman Empire eventually ran out steam.

Perhaps humanity as a whole is on a slow motion train wreck.

[an]

[quote=flu]Dow’s at 11866… getting closer to 12,000… Then we can get back to the normally scheduled program…[/quote]
11913 at close today.

[briansd1]

[quote=AN]
11913 at close today.[/quote]

I doubt the people camping out care about the Dow.

I believe among younger people in the middle class and in the establishment, there is support for reform and sympathy for the protesters.

[UCGal]

[quote=AN][quote=flu]Dow’s at 11866… getting closer to 12,000… Then we can get back to the normally scheduled program…[/quote]
11913 at close today.[/quote]
The stock market is not the same as the economy. Too many people confuse or conflate the two.

[an]

Looks like there are a few more people joining the 1% group: http://money.cnn.com/2011/10/25/pf/America_boomtown_strippers/index.htm?iid=HP_LN

$2k/night * 5 nights/week * 52 weeks = $520k/year. That’s definitely deep in the 1% range.

[patientrenter]

[quote=CA renter]……
As far as “bailouts” are concerned, TARP is only the tip of the iceburg.

How much is being taken from elderly people (and others on fixed income) every single month — for years now — via the Fed’s manipulation of interest rates?

How much will taxpayers lose on bad mortgages that were refi’d from private lenders to govt-backed lenders?

How much will taxpayers end up paying through the FDIC (we are nowhere near done with bank failures, IMHO).

How much purchasing power have wage earners lost as the Fed/Treasury pumped more money into the system to prop up asset owners at the expense of those who earn wages or live on fixed income?

How much have taxpayers paid via extended unemployment and other benefits — which was caused by the boom-bust cycle of the Fed and the “capital gains” crew?

How much have taxpayers lost because of backdoor deals between govt choosen private parties who have been given assets for 17 cents on the dollar (worth about 40-60 cents)?

The list goes on and on… TARP is being used as a distraction from the real damage that has been done by the financial elite. Time to rein them in.[/quote]

This sums it up as well as I’ve seen it done anywhere. The TARP was just the short-term measure until the Fed’s printing of trillions could kick in. Once the Fed got going, the TARP money could be given back, leading to the illusion of little or no cost.

[Coronita]

[quote=UCGal][quote=AN][quote=flu]Dow’s at 11866… getting closer to 12,000… Then we can get back to the normally scheduled program…[/quote]
11913 at close today.[/quote]
The stock market is not the same as the economy. Too many people confuse or conflate the two.[/quote]

Trust me. I’m not confused. But I guarantee if people’s 401k go back up, people won’t be nearly as pissed.

[jstoesz]

This is from the latest CBO report. Thought you all might find this interesting.

“The composition of income for the 1 percent of the population with the highest income changed significantly from 1979 to 2007, as the shares from labor and business income increased and the share of income represented by capital income decreased. That pattern is consistent with a longer-term trend: Over the entire 20th century, labor income has become a larger share of income for high-income taxpayers, while capital income has declined as a share of their income.”

[Coronita]

dow’s up above 12,000…

Your 401k’s are in positive territory again for this year, OWS protestors.

Time to go home….

🙂

[Coronita]

Uh oh…

http://the53.tumblr.com/

[KSMountain]

[quote=flu]Uh oh…

http://the53.tumblr.com/%5B/quote%5D

What a great site.

[CA renter]

This article explains well why we’re in the predicament we’re in.

http://www.businessinsider.com/what-wall-street-protesters-are-so-angry-about-2011-10?op=1

—————-

It also lays out where the dividing line is. It’s not the imaginary line being drawn between public and private workers — the tool being used by the top 1% to pit worker against worker in order to weaken us and distract us from the true causes of our social and economic decay. The real division lies between labor and capital. Always has, and always will.

“In other words, in the never-ending tug-of-war between “labor” and “capital,” there has rarely—if ever—been a time when “capital” was so clearly winning.”

[Arraya]

[CA renter]

[quote=Arraya]http://www.youtube.com/watch?v=qOP2V_np2c0[/quote]

Brilliant! Thank you, Arraya.

[svelte]

Yes, that was excellent Arraya. Loved it.

I wish I knew the answer too. Or better yet, I wish we were implementing a solution right now as we speak.

[Author]

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