by Marc Cuniberti
I’m not sure what Occupy Wall Street (OWS) is all about and because they're so new, I’m pretty sure they don’t either, but the general gist is that the public is getting fed up with literally trillions of dollars going everywhere but to back to them.
People are being told a recovery is in the making and they see stocks going up and bank bonuses definitely going up, yet their neighbor can’t find work and their husbands and wives can’t find enough of what work they do find.
In the midst of this so-called recovery, smiles from the TV showing Wall Street analysts all rosy and cheery assure us companies are adding jobs and the outlook is tepid but positive and things will get better if we just give more money to those that need a bailout.
Obama keeps talking about jobs bills and everyone on Capitol Hill seems well fed and impeccably dressed yet the average Joe watching all this is wondering why none of this warm fuzzy stuff is making it downhill to the ditch he’s in.
Now that the recovery that really never was is said to be stalling, Mom and Pop are scratching their heads wondering when it started and then hear talk about more billions going to banks again and even some of their tax money being thrown at some far away place like Greece.
The coffee klatches start talking and soon Occupy Wall Street sports hundred-strong rallies, soon to be thousands. Newborn and not mission specified, what I fear in this whole Occupy Wall Street thing will end up much like the Tea Party.
The spinmeisters will whip up another deflection story and subtly nudge the OWS gun- sight away from the guilty once more and towards the very thing that can save them.
The Tea Party was branded extremists and Republicans in disguise, purposely so by the boys in the mahogany halls.
What better way to discourage potential members and erode support than to label them heartless bastards that want to cut this country to ribbons with much-needed spending cuts?
Much like going after “the rich” and frying up “big oil”, it’s an easy task to deflect blame from the guilty by using the time-tested methods of “get the big guys” while the guilty go free.
Owned by private banks (self-admitted in the recent Federal Reserve conference I attended) the Federal Reserve controls the money supply and with it the halls of Congress and the White House. The sensible meanwhile are stoned with rocks handed to the accusers by the very same guys that stole your money.
Now that a new group of malcontents has sprung up (OWS), look for Wall Street to whisper in the ears of Washington for their scriptwriters to conjure up some new boogie man to hunt, this time they’ll probably label him Capitalism or worse yet, accuse “free markets” of the malfeasance, then in a grand call of “checkmate”, get the crowd to call for more regulation which gives them even more power, all resulting in a whittling away of what little free markets we have left.
Requests made in heaven to the very ones that suck the teat of the public purse and look to make off with what little profits remain in legitimate businesses.
Truth be told, what you are seeing and have seen in the last few decades resembles anything BUT capitalism, let alone any flavor of free markets. The money masters have gone public with their theft claiming we must abandon free market principles to save the free market (G.W. BUSH 2008).
No longer hidden in the shadows, literally trillions in taxpayer money is stolen and shuttled to the banks and large conglomerates, all under the guise of saving the system.
Capitalism works just fine, ladies and gentlemen, as does the free market, but capitalism and a free market would have let the bad banks fail, the inefficient companies go under, the homeowners that bought in a bubble pack their bags and Union members lose their pensions and perks due to their own bad management and excessive demands.
Lessons would have been learned and mistakes painfully corrected, but it would also have been over by now. There would be no need to occupy Wall Street because a whole new bunch of smarter, wiser and hopefully more honest people would have replaced the thieves that now would be enjoying their just desserts in the hoosegow.
Marc Cuniberti hosts the financial radio show “Money Matters” Thursday at noon on KVMR FM 89.5 and 105.1 in Tahoe and Truckee and on KVMR.ORG. His website is www.moneymanagementradio.com.