We as a nation have to do something about Occupy Wall Street. It isn’t just a case of “get them bums some jobs” as I had cynically and sarcastically suggested the other day. It is a case of doing something about an out of control imbalance in society that will (sooner-or-later) turn “US” into “THEM”.
Writings of Trader / Philosopher Nassim Taleb Prove Insightful
I didn’t really become fully aware of how fully ensnared we all have been by the debt trap until I read The Black Swan by Nassim Taleb. In the book he proposes that the economic advantages of the elite class may have cleared the hurdle of perpetuity. In other words, the economic advantage gained by one generation of elites could be passed down for generations in perpetuity. In previous generations it was only possible to sustain economic elitism for perhaps two generations prior to absorbtion back toward mediocrity.
The danger of perpetual elitism is the damage it causes to the foundation of our greater economic engine. As a greater population recognizes the hopelessness of the economic reality of the 99%-ers, more people in the 99% drop-out of participation and choose to become wards of the state. That leaves the rest of us too foolish to recognize the impossibility of our situation the task of bearing the burden of more hungry unemployed wards of the state to feed and care for – until ultimately so many of recognize the hopelessness of the American Dream that the entire system collapses.
How Close Are We to Fatal Systemic Collapse?
I am not bold enough to sit here an proclaim the sky is falling, but the popularity of the Occupy Wall Street movement has certainly made me take notice. While there are still many of us who continue to grind away at the workplace, so many others have watched their dreams of home-ownership turn into nightmares (note: home-ownership dropped the most since the Great Depression). Even more people are daily waking to the realization that their “piece of America” is worth much less than their paper-equity says it’s worth. Ask any divorcee forced to put his or her home on the market for sale today. Think it’s a sellers’ market?
It’s awakenings like the last one referenced – the kind of awakenings even the most far-right gun-totin’ soccer-mom pro-lifer couldn’t possibly miss if it were happening to them – that are the most concerning. When even the most rabid supporters of the conservative (but 99%-er) right find themselves swallowed up whole by the economic reality of too much debt and forced sales into buyers’ markets then the real protests will start to happen, and they WON’T be peaceful.