simka2 Posted October 2, 2011 Share Posted October 2, 2011 ....Protests to me? What exactly is this about? Quote Link to comment Share on other sites More sharing options...
seraphina Posted October 2, 2011 Share Posted October 2, 2011 A direct quote from a website sums it up pretty succinctly: "because Wall Street’s actions made tens of millions of people dramatically poorer through no fault of their own." Quote Link to comment Share on other sites More sharing options...
Jennifer3141 Posted October 2, 2011 Share Posted October 2, 2011 A direct quote from a website sums it up pretty succinctly: "because Wall Street’s actions made tens of millions of people dramatically poorer through no fault of their own." :iagree: And I think we are starting to see young people in particular question the system. Which I ultimately think is a very good thing. Quote Link to comment Share on other sites More sharing options...
simka2 Posted October 2, 2011 Author Share Posted October 2, 2011 A direct quote from a website sums it up pretty succinctly: "because Wall Street’s actions made tens of millions of people dramatically poorer through no fault of their own." Okay, I will be honest and say my life was falling apart on an entirely different plane a a number of years ago. So, I am struggling with connecting all the dots. How did Wall Street make tens of millions of people dramatically poorer? I am not trying to argue, honestly me head has been in the sand in many ways.:confused: Quote Link to comment Share on other sites More sharing options...
Aelwydd Posted October 2, 2011 Share Posted October 2, 2011 Okay, I will be honest and say my life was falling apart on an entirely different plane a a number of years ago. So, I am struggling with connecting all the dots. How did Wall Street make tens of millions of people dramatically poorer? I am not trying to argue, honestly me head has been in the sand in many ways.:confused: Um, I'm not trying to be rude, but the connection between certain unethical practices of banks, and their traders on Wall Street, and the economic collapse has become almost a ubiquitous topic among pundits, media outlets, and well, every sector of society. How is it you have not been made aware of it? Here is one example. Sort of a microcosm of the big picture. This lecture on the reasons for the economic collapse is very good. Quote Link to comment Share on other sites More sharing options...
Margaret in GA Posted October 2, 2011 Share Posted October 2, 2011 I am very curious how these protests, which are now expanding to cities all around the US, will play out. There were 700 arrests on Saturday. This article does a good job of explaining their loose purpose, which was inspired by the Arab Spring protests. ... "The fact that corporations are controlling and manipulating the economies of the majority of countries – especially third world countries – that's what really angers me.†Interesting movement. I'm thinking we might attend one in Atlanta if it happens this week. What a neat experience for my homeschooled/afterschooled kids-- to see democracy at work. Margaret Quote Link to comment Share on other sites More sharing options...
twoforjoy Posted October 2, 2011 Share Posted October 2, 2011 Okay, I will be honest and say my life was falling apart on an entirely different plane a a number of years ago. So, I am struggling with connecting all the dots. How did Wall Street make tens of millions of people dramatically poorer? I am not trying to argue, honestly me head has been in the sand in many ways.:confused: I would highly recommend watching Inside Job. It's certainly coming from a particular perspective, but it's fascinating and informative nonetheless. Quote Link to comment Share on other sites More sharing options...
Mommy22alyns Posted October 3, 2011 Share Posted October 3, 2011 I'm glad to see people taking action. I was reading A People's History of the US a little while ago (yes, I know...) and was struck by how similar things are now to certain times in the past, yet people weren't taking any action now... until now. I wish we could attend one. Quote Link to comment Share on other sites More sharing options...
seraphina Posted October 3, 2011 Share Posted October 3, 2011 I'm glad to see people taking action. I was reading A People's History of the US a little while ago (yes, I know...) and was struck by how similar things are now to certain times in the past, yet people weren't taking any action now... until now. I wish we could attend one. I will admit it's still on my bookshelf from high school. My ap us history teacher used this book as part of our class. I learned a lot from that class and my eyes were opened. I don't agree with all of Zinn's views but through that class I was finally able to no longer look at the world through rose colored glasses. Anyhow I would love to attend one of these protests. I think it's good to see people active, we need a more active country, we need people to think and to act no matter what their politics are. Quote Link to comment Share on other sites More sharing options...
Ray Posted October 3, 2011 Share Posted October 3, 2011 Free market good. Mob bad.:auto: Quote Link to comment Share on other sites More sharing options...
simka2 Posted October 3, 2011 Author Share Posted October 3, 2011 Um, I'm not trying to be rude, but the connection between certain unethical practices of banks, and their traders on Wall Street, and the economic collapse has become almost a ubiquitous topic among pundits, media outlets, and well, every sector of society. How is it you have not been made aware of it? Here is one example. Sort of a microcosm of the big picture. This lecture on the reasons for the economic collapse is very good. I am not sure how that wasn't rude :confused:. I was honest that I have not been in the loop for a number of years. When dealing with PTSD as the result of a sexual assualt, fleeing one city with my family, trying to get my feet under myself as a mother and wife, complete career change for dh, stabilizing somewhat, and then another long distance move, all the while continuing to homeschool 4 kids and stay married...my plate has been a little full. I am familiar with the Arab Spring Protests, but that is from personal relationships I have. I really have not watched the news in a number of years, unless it is local to find out how close forest fires were to my house. I only heard of the WSP yesterday, because of Google+....hence my questions. Do I know that there are issues with the banks and economy, yes, from this forum and trying to sell a house. Yes, my head has purposely been in the sand. There is only so much I can handle at one time. For some reason the visual/audio aspect of televised news and radio broadcast is a bit emotionally overwhelming. I will read the links and try to figure out how Wallstreet, the Banks, and disenfranchised Americans as developed into nationwide protests. Quote Link to comment Share on other sites More sharing options...
smilesonly Posted October 3, 2011 Share Posted October 3, 2011 Um, I'm not trying to be rude, but ...... How is it you have not been made aware of it? I really don't think an honest question calls for an arrogant reply. I am not sure how that wasn't rude :confused:. I was honest that I have not been in the loop for a number of years. When dealing with PTSD as the result of a sexual assualt, fleeing one city with my family, trying to get my feet under myself as a mother and wife, complete career change for dh, stabilizing somewhat, and then another long distance move, all the while continuing to homeschool 4 kids and stay married...my plate has been a little full. I am familiar with the Arab Spring Protests, but that is from personal relationships I have. I really have not watched the news in a number of years, unless it is local to find out how close forest fires were to my house. I only heard of the WSP yesterday, because of Google+....hence my questions. Do I know that there are issues with the banks and economy, yes, from this forum and trying to sell a house. Yes, my head has purposely been in the sand. There is only so much I can handle at one time. For some reason the visual/audio aspect of televised news and radio broadcast is a bit emotionally overwhelming. I will read the links and try to figure out how Wallstreet, the Banks, and disenfranchised Americans as developed into nationwide protests. :grouphug::grouphug::grouphug::grouphug: Quote Link to comment Share on other sites More sharing options...
Aelwydd Posted October 3, 2011 Share Posted October 3, 2011 I really don't think an honest question calls for an arrogant reply. I really don't think an honest question in response calls for unfair accusations. To Simka: I asked the question in all seriousness, with no sarcasm or anything else intended, rather than a kind of nonplussed disbelief. Like, when my 26 year old sister asked me what Auschwitz was, and what it had to do with WWII. I'm not equating the two in terms of criminal behavior, but in the way both events have been discussed, debated, and investigated ad nauseum. With regard to the Wall Street debacle, it has been so bad that there have been times I banned myself from watching any news coverage at all, because it's been constant. For three years. Short of locking myself into a bunker, I didn't think it was possible to escape the inundation of coverage and reports. (Sometimes, I just want to eat my hot dog and drink my root beer in peace, in front of the TV, and not hear 2 hours of analysis on Wall Street's naughtiness. All I'm sayin'.) So, with that in mind, you shouldn't have too much trouble finding information about all the ways Wall Street helped orchestrate the 2008 collapse. The problem is weeding through it all. Quote Link to comment Share on other sites More sharing options...
kalanamak Posted October 3, 2011 Share Posted October 3, 2011 For some reason the visual/audio aspect of televised news and radio broadcast is a bit emotionally overwhelming. For something more listenable, try TAL's Giant Pool of Money and Another Frightening Show about the Economy http://www.thisamericanlife.org/radio-archives Quote Link to comment Share on other sites More sharing options...
simka2 Posted October 3, 2011 Author Share Posted October 3, 2011 Gotcha, ;). It was difficult for me to admit that I was not grasping what was causing these riots. I like to be informed, aware, and well versed from multiple angles. This was one issue I had not stayed abreast of and was a bit chagrined that I even needed to ask. That probably led me to being a bit over sensitive. I appreciate you taking the effort to respond and share resources. Thanks!:001_smile: I really don't think an honest question in response calls for unfair accusations. To Simka: I asked the question in all seriousness, with no sarcasm or anything else intended, rather than a kind of nonplussed disbelief. Like, when my 26 year old sister asked me what Auschwitz was, and what it had to do with WWII. I'm not equating the two in terms of criminal behavior, but in the way both events have been discussed, debated, and investigated ad nauseum. With regard to the Wall Street debacle, it has been so bad that there have been times I banned myself from watching any news coverage at all, because it's been constant. For three years. Short of locking myself into a bunker, I didn't think it was possible to escape the inundation of coverage and reports. (Sometimes, I just want to eat my hot dog and drink my root beer in peace, in front of the TV, and not hear 2 hours of analysis on Wall Street's naughtiness. All I'm sayin'.) So, with that in mind, you shouldn't have too much trouble finding information about all the ways Wall Street helped orchestrate the 2008 collapse. The problem is weeding through it all. Quote Link to comment Share on other sites More sharing options...
Kim in Appalachia Posted October 3, 2011 Share Posted October 3, 2011 Free market good. Mob bad.:auto: If it were actually a free market, I would agree with you. But it is not a free market. It is a market place which is held in tight control by a few. They pull the strings of the market and the government. They are able to create or prevent legislation. Honestly, right now much of the wealth is owned or controlled by a few. That is not good for a "free market" society. Quote Link to comment Share on other sites More sharing options...
Margaret in GA Posted October 3, 2011 Share Posted October 3, 2011 If it were actually a free market, I would agree with you. But it is not a free market. It is a market place which is held in tight control by a few. They pull the strings of the market and the government. They are able to create or prevent legislation. Honestly, right now much of the wealth is owned or controlled by a few. That is not good for a "free market" society. :iagree: :iagree: :iagree: Quote Link to comment Share on other sites More sharing options...
gaillardia Posted October 3, 2011 Share Posted October 3, 2011 Gotcha, ;). It was difficult for me to admit that I was not grasping what was causing these riots. I like to be informed, aware, and well versed from multiple angles. This was one issue I had not stayed abreast of and was a bit chagrined that I even needed to ask. That probably led me to being a bit over sensitive. I appreciate you taking the effort to respond and share resources. Thanks!:001_smile: RIOTS?! I am not paying attention 24/7 but last I heard it was just demonstrations! Back in the 60's and 70's the young people were all too willing to protest the war in Vietnam, protest for women's rights, protest for racial equality. Graham Nash said in an interview a few years ago that everybody has gotten "so busy", they are too busy to be involved in paying attention to what's going on (no offense, Simka!) and so few are willing to sacrifice their time and effort to give a voice. I would never expect someone who has been experiencing their own trauma and other life difficulties to be totally aware of what's going on with the economy and why it crashed. There is too much information to sift through when your own life is spiraling. When 911 happened, my sisters didn't want to talk about it, didn't want to hear anything about it. Their defense: "I've got enough problems without worrying about that." And it was true. I'm not hijacking your thread, just putting my voice out there. Quote Link to comment Share on other sites More sharing options...
Barry Goldwater Posted October 3, 2011 Share Posted October 3, 2011 If it were actually a free market, I would agree with you. But it is not a free market. It is a market place which is held in tight control by a few. They pull the strings of the market and the government. They are able to create or prevent legislation. Honestly, right now much of the wealth is owned or controlled by a few. That is not good for a "free market" society. Our financial markets resemble a kleptocracy more than a free market. But most of this 'mob' is made up of well organized communists...if they were demanding that current financial fraud laws be enforced, and that the TBTF banks/financial institutions should be required to mark assets to market value and accept the consequences, even if it leads to bankrupcy, I'd be with them...they are NOT advocating a return to genuine free market economics, as far as I can tell. Quote Link to comment Share on other sites More sharing options...
Margaret in GA Posted October 3, 2011 Share Posted October 3, 2011 Our financial markets resemble a kleptocracy more than a free market. But most of this 'mob' is made up of well organized communists...if they were demanding that current financial fraud laws be enforced, and that the TBTF banks/financial institutions should be required to mark assets to market value and accept the consequences, even if it leads to bankrupcy, I'd be with them...they are NOT advocating a return to genuine free market economics, as far as I can tell. Nicely, done BG. Now the thread will likely be deleted. Communists? Really? Margaret Quote Link to comment Share on other sites More sharing options...
Barry Goldwater Posted October 3, 2011 Share Posted October 3, 2011 Nicely, done BG. Now the thread will likely be deleted. Communists? Really? Margaret Well, here's a partial list of demands I've been able to find in about 5 minutes of research... A $20/hour minimum wage. The right to receive this minimum wage whether you work or not. Cancellation of student loan debt (sidebar: Not bankruptcy discharge, which I support - just flat cancellation) Tariffs to stop wage and environmental arbitrage (sidebar #2:which I would consider maybe supporting) and wide-open borders (sidebar #3: disasterously bad idea) A right to a college education What should I call it, if not communism? Sounds just like "from each according to his means to each according to his need." Quote Link to comment Share on other sites More sharing options...
Spy Car Posted October 3, 2011 Share Posted October 3, 2011 A free market is dependent on a level of transparency that gives investors in the marketplace the ability to make rational decisions based on risk and reward. We have had a situation where multiple layers of financial institutions have obfuscated the truth of investment worthiness, such as the mortgage backed securities. Here we even had the ratings companies (that are supposed to give investors confidence in their investments) being essential paid-off by the people they are supposed to be scrutinizing. We had mortgage writers who knew the loans they were writing were beyond risky, the people they worked for knew the same thing, as did the banks and borrowers who re-packed these loans into other securities. Too many people on Wall Street knew what was going on but were complicit as long as they were enriched. That is not free market capitalism. It is fraud. Bill Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.