I understand the protests, and I understand the message that they are trying to convey. At least for the most part, I do. What I do not understand, however, is the location that it all started, and the negative light it has cast on Wall Street as a result.
Wall Street (the New York Stock Exchange) isn’t just composed of big banks and car makers that received enormous bail outs. No. Those companies only make up a small percentage of the stocks and bonds traded each day on the NYSE. So how is it that most of the American population is now associating Wall Street to the recent economic down turn of the nation (And to some extent, the global economy)? You can thank the “Occupy Wall Street” movement for doing so. Let’s face it, a vast majority of the American public doesn’t understand how the NYSE works on a 25,000 foot level, so it’s no wonder they are now associating the bad economy to Wall Street and the NYSE.
So what should the protesters have done in the first place? They should have protested in front of those businesses that received bail out money and have not made an attempt to pay it back. They should protest everywhere but Wall Street, as that’s not where action is needed in order to fix the current economic crisis we are currently in. In fact, the NYSE allows other businesses to earn money by selling stocks this way they can finance other activities, such as research and development in order to raise the nation’s slumping GDP. Wall Street and the NYSE is needed now more than ever in order to help the economy stay afloat. If you take it out of the picture, the economy would certainly collapse as a result.
Let them do their jobs in peace on Wall Street, and take the protests to the door steps of the businesses and people that have gotten us into the mess. Elections are right around the corner – It’s time for us to find someone who is going to go into office with the notion that they are a one term president and try to fix a system that is at its knees and ready to die.
Karl Marx predicted that capitalism would eventually give way to socialism, and eventually pure communism. Could Marx be right? Many people threw Marx’s ideas out the window decades ago. However, with all of the events that have happened within the last five years, it’s probably got some people wondering whether or not Marx was on to something when he made his observations and predictions about capitalism. Certainly by the United States creating a pseudo-social-class system by means of tiered taxation sets us up for Marx’s prediction of the working class vs. upper class (Business owners). Marx predicted that the working class will become exploited by the upper class and as a result revolt, fight back, and re-claim the means for production, passing it to the hands of the common people, rather than one person. Thus, as a result socialism leads way to pure communism.
Could Marx be right? Could this be the beginning of a catastrophic economic down turn that will lead way to civil war, followed by socialism and communism? Could we be at the very start of history?
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