Posted on: 16-11-11 00:03:53
I was wondering what is your opinion about these movements? Being from south asian developing country we have seen much more gap between rich and poor than here.
Absolutely ridiculous movements..
Oh.. we want to to enjoy everything on others money through loan, we want to drive a car bigger than our family, want to live in a house much bigger than the need for your family, we want to fly to Europe, eat in fancy restaurants, make fun of third world standard of living, fly to Bahamas / euro / flashy places for vacation, the hell other people who don't fly to exotic spots don't have fun....
When the debt amasses, we want to go behind the rich and banks.....
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The cowards never started,
The weak died on the way,
Only the strong arrived.
http://www.youtube.com/watch?v=_yK1i9cLAMM
Yes, a worthless movement. Rather, is it really a movement per se?
A couple of homeless and junkies living off in tents that too in Downtown core, while the mainstream and hardworking junta is staying afar. You can't call this a movement AT ALL.
I am agree with movement in principle. JRF, whatever you are saying is true for corporate kids. which middle class man have all those luxuries? Nexus between politicians and business needs to be broken. We are not paying taxes to feed their bail outs thanks to politician's nonsense policies for business.
Corporates keeps playing tricks, hide their balancesheets, and one day ask for money from government, and goverment pay them happily, and keep taxing common man regularly. This is not fair and just.
On other hand, if I am doing a cheek corporate job, going in fancy car and living in a huge house, I wouldn't bother about them at all. Thats the natural reaction from me obviously.
But I agree that protesters looks crazy and junkies and may not get anywhere if they do continue this way.
Quote:
Originally posted by ashedfc
Its in the infancy stage of a major revolution (much similar to the 1776 revolution of US).
Since 1971 after delinking US Dollar from the fixed Gold standard, the 4 decade long party of excess debt which has created massive speculative bubbles allover is now in its final stage. Over time, this bubble has just changed its shape from one place to another. Recent one in fresh memory is the Tech bubble, leading to Housing bubble, leading to the current one Sovereign Debt. This one has the potential to impoverish entire western world. Its already happening, where youth is loaded with ton of debt (student loan/ credit card/ car loan/ housing loan/ high insurance payment/ & very little income (or no income/welfare state) to support this.... At the same time, the seniors are depending on the pension which will be sacrificed by the implosion of Sovereign debts (its already started in Europe, Greece has ignited the fuse of the Debt market with its 50% writedown). The contagion effect is creating problems for French debts & very soon German debt will be the cause of concern. Keep in mind the problem of US debt/UK debt/Japan debt has not gone away, its just that markets are focusing on Europe right now. All these debts are held by the pension funds & insurance companies who fund pensions. End result is seniors will be left with negligible pension (or a pension money with less purchasing power).
This is a fundamental shift in the western world. To a major extent its non-reversible. Its this shift which is causing frustrated individuals to come out & protest. Earlier, people has no place to show their anger to administration. Now this Occupy movement has provided the platform, & day by day more & more people are joining it. Look forward into 2012-13-14-15 & ahead, this mess is expected to get even worst..
For your info... Sept alone (just 2 months back) 35k Financial jobs were lost in Canada, sometimes I wonder who is hiring them; & Govt gives a rosy employment picture. Its also true that Govt data can be skewed to hide the reality (so people don't panic)..
Here's the proof: http://www.investmentexecutive.com/-/35-000-jobs-cut-from-financial-services-in-september
So going forward, theses meaningless protest will turn into bigger numbers & many cities in several countries, & you can expect something big in the not to distant future.
I do subscribe to the first part of your post. Delinking the printing of currency with GOLD reserves was the single major blunder, not knowing the future implications it will bring.
The current mess is the big investors and financial Executives doing having to be paid for by the common man. On top of that these same executives were paid Millions of dollars in bonuses from bail outs received from tax dollars (or printed currency). Living in capitalist economy, bad business/bad management/losses generated have to be borne by the stakeholders of those businesses - the govt has no business in it with tax dollars. Market forces should decide the outcome of each of such failures. In that sense, I too support the OCCUPY movement.
That said, I do not see any future of this movement, since there is no movement. They are just sitting there and bidding away their time - there is no leadership, no direction, no demands nothing. They do not even have a common agenda - everyone is doing their own stuff with no supervision or direction or control - a fertile venue for crime. If such movements are encouraged and if more people join them, we will soon be in line with current residents of Libya /Egypt/afghanistan/iraq - chaos every where.
Just my 2 cents.
Hiren
Quote:
Originally posted by ashedfc
Its in the infancy stage of a major revolution (much similar to the 1776 revolution of US).
Since 1971 after delinking US Dollar from the fixed Gold standard, the 4 decade long party of excess debt which has created massive speculative bubbles allover is now in its final stage. Over time, this bubble has just changed its shape from one place to another. Recent one in fresh memory is the Tech bubble, leading to Housing bubble, leading to the current one Sovereign Debt. This one has the potential to impoverish entire western world. Its already happening, where youth is loaded with ton of debt (student loan/ credit card/ car loan/ housing loan/ high insurance payment/ & very little income (or no income/welfare state) to support this.... At the same time, the seniors are depending on the pension which will be sacrificed by the implosion of Sovereign debts (its already started in Europe, Greece has ignited the fuse of the Debt market with its 50% writedown). The contagion effect is creating problems for French debts & very soon German debt will be the cause of concern. Keep in mind the problem of US debt/UK debt/Japan debt has not gone away, its just that markets are focusing on Europe right now. All these debts are held by the pension funds & insurance companies who fund pensions. End result is seniors will be left with negligible pension (or a pension money with less purchasing power).
This is a fundamental shift in the western world. To a major extent its non-reversible. Its this shift which is causing frustrated individuals to come out & protest. Earlier, people has no place to show their anger to administration. Now this Occupy movement has provided the platform, & day by day more & more people are joining it. Look forward into 2012-13-14-15 & ahead, this mess is expected to get even worst..
For your info... Sept alone (just 2 months back) 35k Financial jobs were lost in Canada, sometimes I wonder who is hiring them; & Govt gives a rosy employment picture. Its also true that Govt data can be skewed to hide the reality (so people don't panic)..
Here's the proof: http://www.investmentexecutive.com/-/35-000-jobs-cut-from-financial-services-in-september
So going forward, theses meaningless protest will turn into bigger numbers & many cities in several countries, & you can expect something big in the not to distant future.
Good post, but this occupy 'movement' will loose its teeth in coming winters...ddddddddddd.d.ddddd....dd.
http://www.detnews.com/article/20111115/OPINION01/111150320/1008/opinion01/Hypocrisy-of-Michael-Moore%E2%80%99s-opulent-home
