I’m naturally sympathetic to popular uprisings … the Tea Party and Occupy _______, for example.
Nothing ever improves unless people get passionate.
On the other hand, both those movements have been mostly irrational and incoherent. Especially Occupy.
Occupy what?
Here’s the first list of complaints I can understand:
• a failure to price public goods (clean air, water, etc.) effectively
• high levels of inequality
• “the provision and distribution of medical care”
• undervaluing of “the welfare of unborn generations”
• financial crises
Those are from Economist Kenneth Rogoff.
Rogoff, not surprisingly, feels that free market Capitalism is the best solution for each:
… I am often asked if the recent global financial crisis marks the beginning of the end of modern capitalism. It is a curious question, because it seems to presume that there is a viable replacement waiting in the wings. The truth of the matter is that, for now at least, the only serious alternatives to today’s dominant Anglo-American paradigm are other forms of capitalism. …
Government regulatory reform is needed, not any experiment with Communism.
Why are the USA, Iceland, Ireland, Greece and Italy — to name a few — so much worse off than their economic neighbours?
That’s the question.
(via Freakonomics)
Rick McCharles 
I have to disagree here Rick. But perhaps I am just extremely biased, being in a filthy underwater mortgage, my husbands show closing next year (unprecedented move for Cirque du Soleil in Vegas) and finding this stinking economy akin to a disaster. If the “demands” seem unclear to people, I would recommend the following reading/viewing:
Michael Moore – Here Comes Trouble
Michael Moore – Capitalism, A Love Story
Check his website too: michaelmoore.com
I predicted this past spring, that it wouldn’t be long before Americans became fed up with the economic conditions, disparity and poverty in this country and the uprising seen in certain Arab nations, would happen here. September 15th it began.
I personally think the intent is clear – create a vocal and visual noise for the rest of the country to wake up. Then perhaps the government and the people will take notice and changes will be made to prevent this from happening again AND to rectify the wrongs that have been committed against the 99%. I realize that it is not a guarantee that this will work. But in the absence of someone at the helm of the government or someone with real power – this is a darned fine attempt and I personally support them in spades.
I am outraged at the number of my friends who have lost homes and who have declared bankruptcy.
I have chosen to stay the course, to pay a mortgage that is worth at least $100k more than my house is presently worth. But I question my sanity at this point. I did what every person wants to do – buy a home, and it will appreciate in value so that in the future, my family will have something for retirement. My 401k has shrunk, my Canadian RRSP’s have shrunk, my house is worth a fraction of what I paid for it, the condo we purchased as a plan for the future of our son is worth less than a fraction of what we paid and owe. Yet Kim Kardashian can spend $10 million on a stunt wedding. This is sick and wrong. The fellow pushing the broom at the gym where I exercise shouldn’t have to work 18 hours per day to put ramen on the table for his family. He shouldn’t have to share his home with far more people than there are rooms to house them, he shouldn’t have to live in squalor. And it is happening here.
Make the wealthy 1% pay more taxes – stop the loop holes.
Stop giving tax breaks to the oil companies.
Make employers treat employees with respect and dignity – low pay, no vacation, 3 day maternity leaves are not cool in a civilized country.
Force the banks to correct the housing market wrongs – allow those of us who got screwed to have our mortgages adjusted accordingly – THEY created a false market value by pushing through loans to people who couldn’t pay them so that people like me who could, paid a severely skewed price.
I am starting to ramble – so ‘nuf said. Apologies for the rant…
As for the Tea Party ….they are not even worth commenting on.
… I haven’t seen those two Michael Moore works yet. Will do.
Right. I don’t disagree with anything there.
We’re not disagreeing.
Tea Party is kookier, but more consistent on their (kooky) message. I honestly had no idea what Occupy was about until I read that article.
In Canada no banks closed. I don’t know anyone who lost their home. What was the difference between USA and Canada in the most recent crisis?
GOVERNMENT. One (perhaps by luck) had regulated the banking sector more correctly.
Clinton started the home mortgage crisis. Bush 2 escalated. Both Democrats and Republicans were at fault. Fact is, the USA doesn’t have a fiscally responsible party to vote for.
It’s almost worth voting for Ron Paul. At least he’d do “something”. Obama has been fairly ineffective. Most of the Republicans would continue shoveling cash to the rich as they know time is running out.
Totally agree. And you’re right – Ron Paul is the smartest choice, but he’ll never pull off a win. Sad state of affairs down here. I never thought in my lifetime I’d know someone who’d list their home. I know dozens now…
Darned iPhone…lost not list
Please note – I am only disagreeing with your “on the other hand”,….