Occupy Wall Street Why We Have to Do Something about It

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.


About S Wise

I teach others about the various uses of binary options as part of an options trading strategy. Learn to make money trading options and increase the performance of your portfolio without inducing excessive risk.
This entry was posted in Economic Inequality, Economy, Opinion, Politics and tagged , , , , . Bookmark the permalink.

4 Responses to Occupy Wall Street Why We Have to Do Something about It

  1. boatman1 says:

    like the single mom school teacher down the street from me whose 3500 sqft house still sits empty, many of these people bought houses they could only afford by assuming a 20% per year appreciation rate……

    then there’s the couple’s house on the other end of my street, still empty, who almost had it paid off in 2004, only to refinance a few years later to put in a pool and get a diesel pusher motorhome.

    all this is going on, i’m in my self built 1000sqfter built with cash, just shaking my head……who ever thought it was SUSTAINABLE?

    even for those who aren’t as handy as i am building things, who get a mortgage, whatever happened to keeping your house payment to 1/4 of your income??……..my parents house was…and that was on ONE income.

    of course,that was not buying the kids 150$ tennis shoes that light up when u step.

    its the exponential debt bubble public and private blown since 1971. (Steve’s note: See Charles Hugh Smith post on Debt Slavery – with thanks Playing the Ponzi)

    and what happened in that year?…….as archaic and simpleton and basic and outdated and old-fashioned as it sounds—nixon closed ‘the gold window’

    from people buried in credit card debt to countries buried in entitlement debt humans must be constrained.

    gold, kryptonite or bay leaves…. i don’t care what we use because now its just a race to the currency-out-of-thin-air bottom for everybody.

    since ’71 wages have not kept up with inflation for the semi-skilled poor and middle class….fact….the current CPI contived by 12 changes to screw the retired out of their COLAs is baloney.

    inflation all goods:

    its going to get alot worse than this,steve, in the greatest reset since 1929.

    it will be QE-infinity or til we get stagflation(britian right now)

    the dow may well be 20,000 but bread will be 10$ a loaf.

    u reckon that’ll get the masses throwing rocks?

    • Preaching to the choir, my friend.

      Somehow despite the fact that people (rights and lefts) were terribly irresponsible with their purchases they still have the capacity to point the finger of blame elsewhere.

      Problem is, ‘dem righties can get really mad and loud and carry guns.

  2. Pingback: Has US Economy Had Its Let Them Eat Cake Moment? « Binary Options Tutorial

  3. Pingback: Occupy Wall Street: Economic Inequality, Social Injustice, and Social Immobility | Binary Options Tutorial

Leave a Comment

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s