Krugman began his column by saying, "...we may, at long last, be seeing the rise of a popular movement that, unlike the Tea Party, is angry at the right people."
Krugman continues: "A weary cynicism, a belief that justice will never get served, has taken over much of our political debate — and, yes, I myself have sometimes succumbed. In the process, it has been easy to forget just how outrageous the story of our economic woes really is. So, in case you’ve forgotten, it was a play in three acts."
"In the first act, bankers took advantage of deregulation to run wild (and pay themselves princely sums), inflating huge bubbles through reckless lending. In the second act, the bubbles burst — but bankers were bailed out by taxpayers, with remarkably few strings attached, even as ordinary workers continued to suffer the consequences of the bankers’ sins. And, in the third act, bankers showed their gratitude by turning on the people who had saved them, throwing their support — and the wealth they still possessed thanks to the bailouts — behind politicians who promised to keep their taxes low and dismantle the mild regulations erected in the aftermath of the crisis."
The protest has sparked similar gatherings all over the country, including Buffalo. In today's column, Donn Esmonde links the Buffalo protest to the one in NYC. "The bankers and brokers got theirs. Meanwhile, in the real world, unemployment pushes 10 percent. Countless homeowners owe more on their house than it’s worth. Twentysomethings exit college with massive debt and minuscule job prospects. People work more for less. The wealthiest 1 percent of Americans have a collective net worth greater than the lowest 90 percent. Republicans moan about Democrats fueling class warfare, but that battle started a long time ago — and most of us are losing."
Esmonde is quick to point out that the protesters are just as angry at the Democrats: "For years, well-paying American manufacturing jobs have been exported overseas. The switch from a manufacturing- to a service-based economy has brought many people more pain than gain. The chickens are coming home to roost. Even die-hard Obama-ites are weary of waiting for change they can believe in from the president.
“Obama promised change, and then filled his Cabinet with Wall Street types”..... “How is that change?”
One of the Buffalo protesters sums it up this way: “I can’t afford to pay a lobbyist to get my voice heard,” she said. “We are out here to change things, because we know it won’t get done for us.”So why should retired teachers care? This is really an extension of the fight that began in Wisconsin. Corporations and Wall St. would like nothing better than to see a world without any way for workers to have their voices heard especially through a union.
Politicians don't really lead. They look around for a parade and, if it seems big enough, they try to jump out in front of the marchers. That's what happened with the Tea Party. Maybe this parade will attract some "leaders" as well.
Politicians don't really lead. They look around for a parade and, if it seems big enough, they try to jump out in front of the marchers. That's what happened with the Tea Party. Maybe this parade will attract some "leaders" as well.
One last thing. On his Wednesday night show, Jon Stewart devoted the first nine minutes to Occupy Wall St. As only he can do, he highlighted the stunning hypocrisy of the media. Won't these people ever learn about an invention called videotape?
This clip is great! Do not miss it! There's a 30-second commercial, but the clip is well worth the wait!
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