As several others have pointed out, yes, there is a lot of unfocused anger and people are upset about myriad issues.
For some time, it seems that there's been an abiding feeling that things aren't going well -- and that the system isn't working for most people, who are pissed off that it's being gamed by politically-connected big players who become very, very wealthy from the practice of crony capitalism.
Part of the concern, of course, involves skyrocketing wealth disparity. You see people with signs saying "we are the 99%", implying that the top 1% of the income or wealth distribution is the problem. But the vast majority those in the top 1% are people such as attorneys, doctors, dentists, CPAs, and small business owners of one kind or another. They're not the problem, and should not be scapegoated. They are not wealthier, generally speaking, than their counterparts were a few decades ago.
The focus of resentment should be some of those in the top
one-hundreth of one per cent, who have been able to exploit the system in unethical ways, such as using banks to play "heads I win, tails taxpayers lose" games with other people's money. Wealth disparity in that very upper portion of the top 1% has become truly staggering in recent years. These people are many times wealthier than they were a generation ago, and produce nothing.
(It should be noted that
not all of the top one-hundreth of one percent should be painted with this brush. Creators and producers -- such as the late Steve Jobs, for example -- are not the subject of these protesters, many of whom carry iPhones and iPads!)
People don't have to have a nuanced understanding of how the prop-trading desks at the big houses work, or how the carry trade works, to realize that something's wrong. Everybody knows that the financial services industry serves itself more than ever, and that everyone would be better off if finance served producers and exporters more and speculators less. That's how you get "more for Main Street, and less for Wall Street."
Some of the OWS protesters carry signs saying "end the Fed", so they have that in common with the Tea Party. They know that continual ZIRP allows banks to borrow at near zero and buy riskless longer-dated Treasuries, knowing that either the Fed or Treasury will backstop them if the longer-dated markets suddenly tank. Nice work if you can get it!
I think the test will be how quickly this phenomenon grows. The anti-war protests of the late '60s started out with just a few disaffected leftists and people who might have been termed "professional radicals." But the anti-Vietnam War sentiment, of course, tapped into the deepening concerns of tens of millions of Americans. When middle class college students started protesting in very large numbers, the Johnson and Nixon administrations realized they had far bigger problems than they had expected just a short time earlier.
It's like the movie "Network" - "I'm mad as hell, and I'm not going to take this any more!"
Originally Posted by CuteOldGuy
http://www.youtube.com/watch?v=WINDt...eature=related