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What is your view on the Occupy Wall Street Protests
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What is your view on the Occupy Wall Street Protests

  #1 (permalink)
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What is your view on the Occupy Wall Street Protests

Kinda surprised this hasn't been talked about. I am interested to hear what the trading community believes about the protests...

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  #2 (permalink)
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Bermudan Option View Post
Kinda surprised this hasn't been talked about. I am interested to hear what the trading community believes about the protests...

I like the Occupy Wall St motto of "We are the 99%". It seems to me that wall street, corporate america just continues to look out only for themselves, the 1%, and they are allowed to do so because they've bought and paid for our congress, fed chair, etc.

American jobs are being exported overseas because it is more profitable. Bottom line.

Huge corporations are paying no tax due to loopholes.

Corporate america is having gangbuster earnings while we have record unemployment and foreclosure.

The idea of a protest has merit, because more people need to be educated so that they won't keep voting in the congress that is owned by the banks and institutions. That basically means don't vote for the guys with the most ad time or campaign contributions, vote for the under dog who refuses to do the bidding of banks or large donors. Then maybe congress will be "for the people, by the people".

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  #3 (permalink)
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start of the revolution

or...

bunch of ppl who got kicked out of their parents house, again

you decide

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vegasfoster View Post
start of the revolution

or...

bunch of ppl who got kicked out of their parents house, again

you decide

Well I am too young to really have any kind of memories of previous large scale protests, like vietnam or etc... but one thing I think they are doing wrong is women going topless. That does not add credibility to a very serious issue. It has the opposite effect, plus gives main stream media an excuse to not cover it --- which is of course in the best interest of wall street, who owns main street media..

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  #5 (permalink)
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Leaders will come when the people are ready. As this is just the start.

The American political system MUST changed. We can no longer have a 2 party 1 single system. We cannot going to vote the lesser of two evils. That's being going on too long.

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Say what??


Big Mike View Post
I like the Occupy Wall St motto of "We are the 99%". It seems to me that wall street, corporate america just continues to look out only for themselves, the 1%, and they are allowed to do so because they've bought and paid for our congress, fed chair, etc.

If what you say is true and corporations do own congress, then how come the corporations let healthcare bill be passed and the dodd frank bill be passed? Why is the EPA allowed to have more power? Each of these is destroying the very corporations you say are in power.

We all work for or indirectly work for big corporations like it or not. Even you Mike. Your broker is a corporation, and guess what, they are doing the same thing as every other corporation in America is doing. If you found out your broker was paying no taxes or less than you would consider fair, would you drop them? If you found out all of them were not paying taxes would you stop trading?? Would you move your account overseas??

Besides the top 1% is paying nearly 40% of the taxes. The top 10% is paying 70% of the taxes. How much would you have them pay?? What about taxing the 50% of wage earners who pay no taxes at all! Shouldnt they pay there fair share just like the rest of us?



Big Mike View Post

American jobs are being exported overseas because it is more profitable. Bottom line.

Why is it more profitable? less redtape and regulations and taxes. Do you blame them? You own a business; if you had to choose between 2 brokers, one charging 20 bucks round trip and the other 5 bucks a round trip which would you take? How about a overseas broker who is charging 1 dollar a round trip. Would you do the very thing you are condemning these corporations for doing: Go with the cheapest broker to be more profitable? Isnt that what you are in business for, to make profits??



Big Mike View Post

Huge corporations are paying no tax due to loopholes.

I work for a fortune 500 company and I can tell you this is flat out wrong. Majority of corporations pay more than there fair share of taxes. Our tax rate is around 31%. There are the exceptions but they are few and far between and are seen mostly on the nightly news to make you think everyone is paying no taxes at all..



Big Mike View Post

Corporate america is having gangbuster earnings while we have record unemployment and foreclosure.

Healthcare was passed the dodd frank bill was passed plus the hundreds of bills which are not read but passed anyways come out of Washington every year. Companies have no idea what the future holds. Would you hire someone for the sake of hiring someone? How about for a tax credit? The answer is no. There is no reason to keep someone employed if they are not doing anything. Businesses were caught off gaurd in 2008 and they made adjustments now they have record amounts of cash on hand. Then there is the whole supply and demand thing.. Why would you keep producing product if you had no one to sell it to?

Do you know why we have record foreclosure? In 1999 under pressure from the Clinton administration, Fannie Mae lowered the qualifications to get a mortgage. This coupled with changes to the Comunity Reinvestment act allowed banks and other lenders give loans to people who were previously unqualified. This was the beginning of the end for the housing market. A loan could be handed out to every tom dick and harry who wanted one. This allowed people to buy more house than they could afford. Companies sprung up like CountryWide who realized how easy it was to hand out loans and got into the business. This reminds me of people piling on to a hot stock as it goes up rapidly.. and you know how that ends...same as the housing market...Then everyone acts suprised when it happens and starts pointing fingers..

This link is from the New York Times so must be true!
Fannie Mae Eases Credit To Aid Mortgage Lending - NYTimes.com

See changes in 1999:
Community Reinvestment Act - Wikipedia, the free encyclopedia






Big Mike View Post

The idea of a protest has merit, because more people need to be educated so that they won't keep voting in the congress that is owned by the banks and institutions.

What merit? most of them dont even know what they are protesting. On top of it they broke the law and got arrested. Since when is doing the wrong thing considered to be right? We should be condemning these people for breaking the law. Not celebrating what they are doing. When was the last time we celebrated a bank robber? Never, but ironically they are attacking the same businesses as the protesters.

You have it backwards.. Congress owns the banks and institutions not the other way around; You either contribute to my campaign or I will pass a bill that will destroy your business. Thats why there are lobbyist!!


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Last edited by Silver Dragon; October 4th, 2011 at 11:33 PM.
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  #7 (permalink)
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Dragon breathing a lot of hot air

In this country, the bottom 80% had 7% of the financial wealth, in 2007. The top 1% had 43%. So why SHOULDN'T they pay 40% of the taxes? So they can create more jobs, like they have since then?


http://sociology.ucsc.edu/whorulesamerica/power/images/wealth/Figure_1.gif

It's not the bottom half of the top 1% who are to blame for the mess. That group includes the ranks of self made achievers. It's the much smaller number of financial sector parasites and super crooks at the very top. And the tiny group of ultra reactionary, billionaires like the Koch Brothers, the Coors family, Scaife, etc who have been quietly working to undermine the United States for decades.

The Fortune 500 companies are job destroyers, not job creators.

If the richest people in this country did not want the government to be following its present economic policies, who DID dictate them? The homeless? Welfare cheats? Socialists? Atheists? I do not recall that any of those groups field large, influential groups of K Street lobbyists.

I am talking about PROVEN job destroying policies like:
  • Free trade agreements
  • Tax breaks for offshoring
  • Removal of leverage limits from banks and socialization of their losses
  • Wars of imperialist aggression



As far as Health Reform goes, why was it made into a giveaway bonanza for insurance and pharmaceutical monopolists when "The People", according to every poll, wanted a SINGLE PAYER system? Who exactly are the biggest beneficiaries of that, again? Now that private corporations have essentially been granted the power of taxation?




Incredibly, even now, the perfidious President and Congress are trying to sneak through MORE "Free Trade Agreements":
http://www.openmarket.org/2011/10/04/free-trade-agreements-are-not-that-free/

Anyone who calls President Obankster a liberal is seriously deluded. George Bush IV is more like it, Clinton was GHWB II.


Last edited by Zondor; October 5th, 2011 at 12:05 AM.
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Zondor View Post
If the richest people in this country did not want the government to be following its present economic policies,who DID dictate them?


I would ask the same question: why would the rich create policies which would destroy their own wealth? They wouldnt. So... since everyone on the right wants to be rich, I would say this pretty much rules out everyone on the right... if you rule out the right then this leaves only one side left.. I will let you do the math...

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more hot air but no fire


Quoting 
I would ask the same question: why would the rich create policies which would destroy their own wealth? They wouldnt. So... since everyone on the right wants to be rich, I would say this pretty much rules out everyone on the right... if you rule out the right then this leaves only one side left.. I will let you do the math...

SD


Yeah, that makes a lot of sense. Now, who are those billionaire leftists who pay for all those K Street lobbyists again?

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Zondor View Post
Yeah, that makes a lot of sense. Now, who are those billionaire leftists who pay for all those K Street lobbyists again?

George Soros, Warren Buffet comes to mind... Besides I dont even understand how there can be rich on the left. They are all about redistribution of wealth. Shouldnt they be giving all their money away? Obama made 5 million last year. Shouldnt he donate that to the have nots? What about Al Gore and all the hollywood elites.. They have so much money yet they hoard all of it just like the evil rich guys on the right.. By all accounts they should be making median househould income, but they dont.

That makes me mad, damnit I need a new iPhone 4s!! They should give me the money I didnt work for so I can go out an buy one!!! Just sayin...


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