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Never in the history of intergenerational transfers has one generation left such a mountain of IOUs to another as the baby boomers are leaving to their grandchildren.
Should the demonstrators currently occupying Wall Street actually be protesting the excessive spending of the baby boomers? Niall Ferguson explains why this movement is really, or at least should be, a clash of generations. (via cheatsheet)
The Occupy Wall Street movement is spreading quickly to many cities and states, and could possibly become a nascent third party within the Democrats. Predictably, it is being attacked from the right as “socialist.” Actually, it is capitalist, but believes in the regulation of capitalist institutions. What we live under now is a system of Corporate Socialism, a welfare state for the rich. It seems to me that your politics can be defined by whose side you are on. Tea Party members are mostly on their own side. They believe they should pay lower taxes, or none. If we can’t pay for health care, tough luck. The Occupation forces, who seem more affluent and might benefit more from lower taxes, are on the side of those being exploited by an unregulated Wall Street.
Roger Ebert (via azspot)

It’s remarkable how few seem to grasp this fairly basic concept. (via danielholter)

cognitivedissonance:

#OccupyWallStreetMovies is a tag mostly mocking the Occupy Wall Street movement. It’s trending, yet #OccupyWallStreet is generating quite a bit more traffic. So, who’s shocked Twitter is censoring the #OccupyWallStreet hashtag from trending? 

If you are legitimately shocked, you haven’t been paying attention.

JP Morgan Chase has invested over $400 million in Twitter this year, and $4.6 million in the NYPD just a few months ago. Interesting coincidence, no?

What is occurring on Wall Street right now is truly remarkable. For over 10 days, in the sanctum of the great cathedral of global capitalism, the dispossessed have liberated territory from the financial overlords and their police army.

They have created a unique opportunity to shift the tides of history in the tradition of other great peaceful occupations from the sit-down strikes of the 1930s to the lunch-counter sit-ins of the 1960s to the democratic uprisings across the Arab world and Europe today.

While the Wall Street occupation is growing, it needs an all-out commitment from everyone who cheered the Egyptians in Tahrir Square, said “We are all Wisconsin,” and stood in solidarity with the Greeks and Spaniards. This is a movement for anyone who lacks a job, housing or healthcare, or thinks they have no future.

The Revolution Begins at Home: An Open Letter to Join the Wall Street Occupation - The Indypendent, 9/28/11

- Good letter from Arun Gupta.

(via harmreduction)
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