Monday, October 17, 2011

Occupy Wall Street, Part 3: Recent Articles and Videos

(My previous posts on this topic are: Part 1; Part 2.)

General Sources:

http://occupywallst.org/.

Occupy Wall Street Media, Kickstarter.
Has links to The Occupied Wall Street Journal.

Wall Street protests, The Progressive.

Occupy Wall Street, The Guardian.

Occupy Wall Street, CommonDreams.org.

Occupy Wall Street, Al Jazeera English.


Articles & Videos:

Reggie Middleton, "Why Occupy Wall Street When You Can Control Wall Street?," BoomBustBlog, 12 October 2011.
Also posted at MaxKeiser.com.
This 24 minute video is both entertaining and contains informative economic statistics (I paused it several times to look at the charts, tables, etc.). In particular, US real estate prices are a long way from bottoming. And there's a great Malcolm X video included.
Also, I endorse Reggie's observation in the notes to the video on BoomBustBlog regarding the non-existence of a middle class. People whose main income source is Wages (see Line 7 of your IRS Form 1040) are working class, however high their wages. The middle class is better understood as the comfortable working class. Splitting the middle class from the working class is part of a divide-and-rule strategy; consider, for example, the anti-union sentiment among the middle class. I think it's necessary to discuss these economic class issues to help people recognize that they should identify with the 99% who have legitimate grievances against exploitative corporations and a corrupt government that serves those corporations instead of the people.
I am less optimistic about the idea of organizing large numbers of small depositors - "Depositor Activism" - to force banks to change their policies. The weakness is not just in the "herding cats" aspect of the idea. Given how the banks now control the corrupt U.S. government, I expect the organizers of such a campaign would face illegal and highly punitive actions by the government; they would be subjected to the kinds of arbitrary "asset forfeiture" confiscations now used in other areas. (You do know what the U.S. government does to people it unilaterally declares are "terrorists" or "unlawful enemy combatants," don't you?)

trashtelevision, "Occupy Wall Street Simplified," YouTube.
This does indeed vastly oversimplify the issues, by focusing only on the bailouts.

Steve Fraser, "Tomgram: Steve Fraser, The Street of Torments; The All-American Occupation: A Century of Our Streets Vs. Wall Street," TomDispatch, 13 October 2011.
Tom Engelhardt's introduction describes a demonstration by the Egyptian Association for Change, USA in support of Occupy Wall Street that took place in Washington Square Park during the weekend of 08-09 October.

John Feffer, "The Age of Activism," Foreign Policy in Focus, 15 March 2011.

John Feffer, "Wall Street (Unlike)," Foreign Policy in Focus, 11 October 2011.

Ariel Dorfman, "Tomgram: Ariel Dorfman, A Warning for Barack Obama; Salvador Allende Has Words for Barack Obama from the Other Side of Death," TomDispatch, 09 October 2011.
Tom Engelhardt's introduction describes a march out of Zuccotti Park with Occupy Wall Street on Wednesday, 05 October.

Ariel Dorfman, "Ariel Dorfman's Message to Youth Who Want Change," The Nation, 22 September 2011.

Paul Krugman, "Losing Their Immunity," The New York Times, 16 October 2011.

Nicholas D. Kristof, "America’s ‘Primal Scream’," The New York Times, 15 October 2011.

October 15th - Global Day Of Action, Occupy Wall Street.

Bernie Sanders, "Six Demands to Make of Wall Street," CommonDreams.org, 12 October 2011.

Peter Dreier, "Will Occupy Wall Street Be Co-opted?," The Huffington Post, 12 October 2011.

Barbara Ehrenreich, "The Guys in the 1% Brought This On," The Progressive, 12 October 2011.

David J. Lynch, "Growing Income Gap May Leave U.S. Vulnerable," Bloomberg.com, 13 October 2011.

Jeff Madrick, "A Zuccotti Park Education," NYRblog at The New York Review of Books, 11 October 2011.
You can watch Stiglitz's & Madrick's afternoon teach-in here.

Immanuel Wallerstein, "The Fantastic Success of Occupy Wall Street," Commentary No. 315, Fernand Braudel Center - SUNY Binghamton, 15 October 2011.

EuroCatalyst, "Kyle Bass @ AmeriCatalyst 2010 | 'Confessions of a Dangerous Mind', 2010.
via: Tyler Durden, "Some Words of Advice from Kyle Bass," Zero Hedge, 16 October 2011.
The charts and interpretation by Kyle Bass explain why the Europeans have been acting so desperately to prevent a sovereign debt default by Greece and the other PIIGS. Zero Hedge also has many articles showing how interlinked the large international banks are in their holdings of various debt instruments. Hence the propping-up of Dexia recently. One big sovereign or bank default and Bass's domino default scenario starts to happen.

Juan Cole, "Mayor Bloomberg and Occupy Wall Street by the Numbers," Informed Comment, 15 October 2011.

Chris Hedges, "A Movement Too Big to Fail," TruthDig, 15 October 2011.

George Washington, "Is Anyone Dumb Enough to Believe that Obama Supports the 99%?," Washington's Blog, 17 October 2011.

Russ Certo, "'A Walk In The Park' - A High Level Banker's Take On #OccupyWallStreet... And Other Musings," Zero Hedge, 17 October 2011.
This is not a satire of banker cluelessness. It's the real thing!

"Map: See Major Events and Arrests From #OWS," Mother Jones, 04 October 2011.
Article also includes informative economic data.

Matt Taibbi, "My Advice to the Occupy Wall Street Protesters: Hit bankers where it hurts," Rolling Stone, 12 October 2011.

Eliot Spitzer, "Occupy Wall Street Has Already Won," Slate.com, 13 October 2011.

Alan Taylor, "Occupy Wall Street Spreads Beyond NYC," The Atlantic, 07 October 2011.
A nice collection of photographs.

Max Keiser rallies the troops in Greece – Syntagma, Athens 16/6/11, MaxKeiser.com, 15 October 2011.
The two videos here show Max Keiser was doing #OccupyWallStreet-type consciousness raising in June 2011 in Greece; he speaks to the Athens Lawyers Association and to a large outdoor crowd.
If you're interested in hearing more I recommend "[KR197] Keiser Report – Pirates & Protesters!," 15 October 2011.

Brian Rogers, "Guest Notes From The Sales Desk - A Few Thoughts On The Occupy Wall Street Movement," Zero Hedge, 14 October 2011.

Adrian Chen, Meet the Guy Who Snitched on Occupy Wall Street to the FBI and NYPD , gawker.com, 15 October 2011.
Adrian Chen, Right-Wing Rabble-Rouser Leaks Thousands of Occupy Wall Street Emails, gawker.com, 15 October 2011.
Another self-appointed agent provocateur and, like last week's, he's a right-wing exhibitionist.

My opinion: among many other reforms, the U.S. needs a new Pecora Commission. This was discussed on Bill Moyers Journal, 24 April 2009.
William K. Black is frequently suggested as the leader of a new Pecora Commission. He is ready and willing: "Enforce the Laws for the 99%", 17 October 2011.