Here are some
explanations Congress and the public is for the most part ignoring.
Obviously, congressional Republicans are resisting any solution that the
administration might claim credit for during the next election cycle.
Regardless, here are some perspectives that we can use to measure
Consider this irrefutable fact...
No matter how one slices it or dices it, there will
always be a lower quartile, a lower half – those persons in our national
community who do not have the capacity - intellectual, education,
experience and/or motivation to successfully manage long term financial
planning and complex health care issues. (You
will see this perspective frequently on this site.)
Don't believe this? Already, half of our national
community does not earn enough to pay any federal income taxes.
Well, that 50% includes those who are loosing their homes and jobs. That
50% are those who now hold a pessimistic view of the future economy as
reported just this week. And, it
is precisely those 50% who are coming together with the specific intent of
changing the system. One might want to consider the power that 50% as a
potential "swing vote" even if they don't come to a total political agreement.
Want the facts behind the protests? Check out these
charts from Business Insider. Certainly this group includes youth that have been
provided everything they want without personal responsibility. And
now those youth are hitting the wall of reality that taking out
unrealistic student loans has consequences.
P.S. Of the top 1% of American earners only 3% were
in the "banking" industry! The "cut off" is about $250,000 @ year.
There's a lot of entertainers, athletes, and entrepreneurs on that list!
For different perspective underlying these protests see the Fogcutters "Observations
Here are a few bed-rock facts that must be included in any inequities
1. The housing crisis has cost citizens of trillions of
dollars of net worth. The inability to relocate is keeping workers from
moving to areas where their skills match job openings.
2. Skyrocketing educational costs have let to enormous
student loan levels. Outstanding student loans are now surpassing the
national credit card debt. The recent Pres. Obama executive order
moderating the student loan terms may soften the impact but it does not
address educational costs as a whole.
3. Almost all statistics show that the lower 50% of wage
earners have been loosing net worth while the upper income levels
have been gaining net worth. This trend has been growing for nearly
4. NAFTA and other "Free Trade" agreements have benefited
importers by providing cheaper goods but at the cost of American
manufacturing jobs. We have exported higher paying manufacturing
jobs and have created lower paying service sector jobs.
5. America has become obsessed with "cheap" foreign goods
at the sacrifice of American jobs. America has a choice to make whether we
are willing to spend more for "American Made" and "American Quality."
6. There are, quite frankly, those who have sought the
accumulation of wealth as their "career." Meanwhile others have
sought careers that are not destined to acquire great wealth.
Also, It is perfectly natural for politicians as well as ourselves to listen more
closely to those who are successful. The fundamental problem occurs
when those who are successful use undo influence to create an environment
favorable to them and destructive to the nation on the whole.
The "1%" battle cry is catchy and simple to rally
around, no doubt! A closer inspection shows a lack of understanding
of complex issues and a lack of precisely what changes are being
sought. Recent interviews with some of the protesters follow the lines of,
"asking politicians what they are going to do about... (fill in the
blank). This approach is just asking for a "snow job"!
Complaints include lack of jobs, low paying jobs, lack
of access to mortgage loans, high student debt with few job prospects, and
finally anger that the big money people are exercising excessive influence
within the government. (See #6 above.)
Most of the desired actions sought by the government
are along the lines of more government spending to remedy the above
problems. This attitude is further fostered by "Progressive Caucus"
members and union activists joining the groups. Thee is also an
expressed desire to significantly increase taxes on the rich.
Regardless of the symptomatic issues above there is a
real and significant issue about just who Congress is loyal to. An example
of this protective favoritism is the Cramer
with Sen. Sanders, (I) Vermont. Also see Sen. Sanders
about oil speculators.
Eventually there will be elements of leadership rising
to influence these movements. Protesters must absolutely study the many
factors leading to these inequities - because as the lyrics of a country
song goes, "You must stand for something or you will fall for anything!"
For many the only short term solution is self determination and a lot of
personal work to achieve parity with other influential segments.
This movement both in the U.S. and the world is
widespread and for the most part a valid expression. Do not discount
these issues because... revolutions whether social or political, violent
or peaceful begin and find support from those who have nothing to loose!
1. Understand the real, deeper issues and the facts involved!
2. Review our detailed discussions regarding
Unemployment and Housing Crisis.
charts from Business Insider to better understand the actual facts
4. View Cramer
with Sen. Sanders Sander's
5. For a special view of self-determination thoughts see
our "Observations" link.
6. Stay connected to several of the "Occupy" web sites and
discussions. Don't hesitate to express yourself even if it may not
be popular. Somehow the movements seem to be taking pride in the
lack of leadership - this is just naive! Without a coherent expression
that is based upon actual facts the established influences will be
inclined to simply write off these efforts. (See "#6, Also" above). "Who
wants to listen to a bunch of losers?"
7. Finally, from everything that we have observed within the
many issues presented at Fogcutters we can see only one central change
needed before the rest of these issues have a chance of resolution: A
thorough and fair campaign finance reform! We need to break the
money trail that is pulling Congress away from doing what is best for the
nation and not just what is best for financial contributors. (More
on this elsewhere.)
Beneath all the political verbiage there
are significant, ignored facts and considerations that we need to be aware
of. And, this is what Fogcutters is all about.
- Finding Where Truth Hides
Copyright © 2011-2012 H&H
Associates. All rights reserved.