Why “Occupy Wall Street” Is Seriously Misguided

by Eric M. Blake October 10th, 2011 |

Conservative Considerations, Political Opinions

By now, you’ve doubtless heard of the “Occupy Wall Street” movement.  A group of people have basically organized around the Street to give Corporations the what-for—now, it’s apparently spreading around the nation, as they protest…protest what?

Now, let me explain why I’m asking this: Even the protestors don’t know.  Well, a lot of them claim to know—but even then, it’s a classic case of vague, undefined answers, which turn out more often than not to be typical Leftist slogans— defenders’ claims to the contrary notwithstanding.  (Note that the protest actually started as a Communist-anarchist get-together.  It was after the first few days of protest that the kids came along, with the populist rhetoric.)

If you dare to point out their lack of clarity, you’re called a “tool”, a “shill”, etc.  A Sacramento CBS News report reveals that some protestors are even lashing out at journalists, for “manipulating coverage”.  Others are even trying to give the press the “silent treatment”.  (The leaders say an official “goals” statement is pending….)

Okay.  Let’s look at common claims made by this movement:

“We’re displaying displeasure surrounding the bailout which propped up the companies that continue to play roulette with the economy!”

CNN’s Erin Burnett showed an interview of a protestor last week, asking him why he was there.  He responded with the above claim.  When CNN pointed out—and Erin herself confirmed—that all of the bailout money (except for GM) has been paid back with interest, he muttered that he would have to look it up himself…but that if it were true (it is), it would cause him to re-think his presence there.

(By the way—if you look this up on YouTube, on CNN’s channel, look at the comments: the protest supporters call Erin a “presstitute” for Evil-Greedy-Corporations, a “Faux-News” wannabe, etc….)

“It’s about ending economic injustice!”

Meaning…what, exactly?

 “You know, Wall Street Greed!  Those corporate fat cats are getting rich, while we’re all unemployed and broke!”

Oh, okay.

Herman Cain gets the honors, here.  In a recent Wall Street Journal interview, Cain noted, “When I was growing up, I was blessed to have had parents that didn’t teach me to be jealous of anybody, and didn’t teach me to be envious of somebody.  It is not a person’s fault because they succeeded—it is a person’s fault if they failed.  And so, this is why I don’t understand these demonstrations—and what is it that they’re looking for.”

“But corporate greed and financial greed are ruining this country!

Indeed.  I’d like to ask the people who say this: exactly what did Wall Street do to ruin this country?  Now, before you explode at how “naïve” that question is, let me ask this: Do you even know what Wall Street is—what it’s there for?

Let me answer: the stock market is, quite simply, how companies raise money to invest into the expansion of their business—translation: the creation of jobs.  Wall Street investors (which—surprise!—includes a great many middle-class folks with retirement funds, mutual funds, etc.) observe a company with the potential to grow.  They invest their money into said company—this is called “buying stock”.  The company takes that money, and invests it into its business.  The more money invested into a business, the more it will expand—and expanded businesses mean: jobs…jobs…jobs.

“Roulette”?  Hardly.

(Side note: a lot of the protesters have been seen with iPhones, laptops, designer jeans—you know, products of Evil-Greedy-Corporations.  Just saying….)

“But the Evil-Greedy-Corporations aren’t creating jobs—they’re making record profits, and sitting on them!”

Yeah?  And why are they sitting on them?  I’ll tell you: because the current economic climate is unstable!  They look at the tax code—and the fact that the Bush tax cuts have only been extended, not made permanent.  They say to themselves, “Well, gee, considering all this class-warfare and soak-the-rich…I think I’d better keep my money locked up, so I can weather out any Obama tax hikes.”

In other words—there would be economic growth right now—and jobs along with it—were the Bush tax cuts to be made permanent—were a business-friendly environment to be encouraged—and were people to stop thinking that investors and corporations are The Enemy.

News flash: they’re not.

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6 Responses to “Why “Occupy Wall Street” Is Seriously Misguided”

  1. Eric M. Blake says:

    UPDATE: The “Occupy” group in Atlanta stepped in it, Friday night. They dissed Civil Rights icon John Lewis–to his face–and drowned out folks who tried to apologize to him.

    It’s causing the momement to lose support there. Here’s the story: http://www.theblaze.com/stories/john-lewis-is-not-better-than-anyone-occupy-atlanta-refuses-to-allow-civil-rights-icon-to-speak-at-protest/

  2. Eric M. Blake says:

    UPDATE: Both Venezuela and Iran have expressed support for the “Occupy” movement. Recap: both regimes are known to have suppressed rebellions witin their own borders. Little news flash: when two tyrannical regimes–one Communist, one Theocratically Facist–openly support you, you probably should consider the possiblility that you’re on the wrong side….

  3. Reader says:

    I hear that a lot of the protesters are getting paid through groups like Acorn…$450 to $650 a week. So they would not be clasified as uninployeed but maybe these jobs might be the shovel ready jobs we were promised. (but what are they shoveling?)

  4. [...] Occupy Wall Street – Somehow a dozen goofy college kids hanging out in a park near Wall Street has developed into a [...]

  5. Eric M. Blake says:

    (Response to “Reader”):

    Well…if anything, the “shovel-ready” jobs for these hippies, I’d imagine, involve cleaning up after themselves. There’s a story about one guy taking a Number Two on a police car! How’s that for “shovel-ready”?

  6. Reader says:

    When readers are ready to move past spreading false rumors, innuendo and outright misinformation, check out:

    1. http://www.foxnews.com/opinion/2011/10/14/understanding-occupy-wall-street/?mid=50699#ixzz1b5rjvNw1

    2. “Why Occupy Wall Street is Bigger Than Left vs. Right” (really, give it a try!!!!)
    http://www.rollingstone.com/politics/blogs/taibblog/why-occupy-wall-street-is-bigger-than-left-vs-right-20111017?mid=506

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