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We are the 99 percent

10 year anniversary of Lehman Brothers collapse is coming up.

Posted 6 months ago on May 15, 2018, 4:54 p.m. EST by OccupyWallSt
Tags: anniversary

"10 year anniversary of Lehman Brothers collapse is coming up. It coincides with the 7 year anniversary of #OCCUPYWALLSTREET. I hear rumblings from activists abroad who hope to spark an uprising on the anniversary. Is it possible? Yes. Will it work? Only if we go straight for power." - Micah White

36 Comments

36 Comments


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[-] 2 points by agkaiser (2232) from Fredericksburg, TX 2 months ago

In "Lord Darlington" Act III, Oscar Wilde answered a question soliciting the definition of a cynic as, "A man who knows the price of everything and the value of nothing.".

I've never subscribed to the pejorative definition of cynicism, the insistance on honesty even if brutal, that Wilde suggests is its true meaning. But that does describe a wannabe elite investor, who is actually a fool.

Consider the price of stocks in the market compared to the real value of the issueing entity. When a stock is issued, an investment is made and the issuer receives the capital, which adds to the value of existing assets.

When a stock is subsequently traded, the issuer receives no further material wealth from the transaction, presuming that the entity is not a party to the deal. So can today's stock price really be said to reflect the value of Apple or Amazon or any other stock issuer? Are they worth $trillion or are they worth the value of their material assets? Are the mass of stock traders really so savvy that they know the difference between price and value or take such into account when they bid up the price of those stocks? I think not! By the way, this discussion applies to the real estate market too.

I think the cyclic boom and bust of the markets is evidence of the foolishness of most participants. I think the all time winners buy stocks when they are at their low, often at the IPO. The average fool in the market starts buying as the prices rise. When they're high enough the big operators start a panic and the fools sell out, often lower than they bought in. When the price is low enough, guess who buys and starts the cycle one more time. Is there a factor that limits how many times the con can be repeated? I'll leave the answer of that to your imagination and your estimation of the wisdom of the all time losers that bid up the price of stocks and real estate. .

[-] 2 points by ImNotMe (1488) 5 months ago

''Misleading Unemployment Numbers and the Neoliberal Ruse of 'Labor Flexibility'” ...

Consider: ''Poverty is deepening and the standard of living is declining in the US, even as the national unemployment rate has hit historically low levels. Meanwhile, wages remain stagnant and inequality is worsening with every passing year. What explains this anomalous state of the US economy, and what can be done about it? In this exclusive interview with Truthout, Economist Robert Pollin, co-director of the Political Economy Research Institute at the University of Massachusetts at Amherst - analyzes the perverse and extreme nature of the neoliberal economic landscape in the US.''

fiat lux et fiat justitia ...

[-] 1 points by ImNotMe (1488) 4 months ago

"Why Socialism'' by Albert Einstein:

& a ''The Rhyming Guide To Trump'':

fiat justitia ...

[-] 1 points by ImNotMe (1488) 2 months ago

''Central Banks Have Gone Rogue, Putting Us All at Risk!'' by Ellen Brown:

From which, consider .. ''Abolishing the central banks is one possibility, but if they were recaptured as public utilities, they could serve some useful purposes. A Central Bank dedicated to the service of the public could act as an unlimited source of liquidity for a system of public banks, eliminating bank runs since the Central Bank can NOT go bankrupt. It could also fix the looming problem of an unrepayable federal debt, and it could generate “Quantitative Easing For The People” which could be used to fund infrastructure, low-interest loans to cities and states, and other public services.'' JUST THINK ABOUT THAT!!! Also see ...

radix omnium malorum est cupiditas!

[-] 1 points by ImNotMe (1488) 2 months ago

Note ''Retrospectives of the Financial Crisis Leave Out Its Victims!'' .. by David Dayen:

fiat justitia - ruat caelum!

[-] 1 points by elf3 (4086) 6 months ago

The napalm of Net Neutrality and an uncensored internet is still hanging in the balance...Votes in the house this week.

[-] -1 points by ImNotMe (1488) 5 months ago

''Inside Job'' = Xcllnt Doc. Film, re. roots of Global Financial Crisis:

radix omnium malorum est cupiditas ...

[-] 1 points by agkaiser (2232) from Fredericksburg, TX 6 months ago

The bubble has grown to record size in the past few years. When it bursts it will add to the probability of a successful uprising. It won't be much longer now.

[-] -1 points by ImNotMe (1488) 5 months ago

''Chris Hedges and Kshama Sawant - How to counter establishment politics.''

per ardua ad astra ...

[-] 1 points by ImNotMe (1488) 4 months ago

''Alexandria Ocasio-Cortez and the Legacy of the Bernie Sanders Movement''

veritas vos liberabit ...

[-] 1 points by beautifulworld (22973) 4 months ago

Millennials Identify as Socialiststs overwhelmingly.

"Why Young Democrats Are So Open to Socialism":

https://slate.com/news-and-politics/2018/06/alexandria-ocasio-cortezs-win-and-the-energy-on-the-left.html

[-] 1 points by ImNotMe (1488) 4 months ago

''The Bank of North Dakota - currently the nation’s only state-owned depository bank, has been called a “mini-Fed” for that state. The Bank of North Dakota partners with local banks to make below-market loans for community purposes, including 2 percent loans for local infrastructure, while at the same time turning a tidy profit for the state. In 2017, it recorded its 14th consecutive year of record profits, with $145.3 million in net earnings and a return on the state’s investment of 17 percent. California, with more than 50 times North Dakota’s population, could use its own mini-Fed as well.'' from this by Ellen Brown..

Thanx for your long but excellent dialogue article. Anyone actually interested in OWS should read it, as ''A closer look at Alexandria Ocasio-Cortez’s win and the energy on the left'' is revealing! From article...

''The panic over ‘socialism’ in 2009 had another legacy — it cheapened the ‘s-word,’ allowing actual socialists the space to advance their ideas at the end of Obama’s presidency. In 2015 and 2016, Sen. Bernie Sanders (I-Vt.) ran for president as a ‘democratic socialist,’ the label he’d given himself for decades. He won millions of votes, and his success coincided with — and probably steered — a surge of younger Americans saying they favored socialism.'' Also consider ....

per aspera ad astra ...

[-] 1 points by beautifulworld (22973) 4 months ago

Democratic Socialists of America.

This party founded in 1982 seems to be taking off lately. New chapters are rising up around the country. Check it out.

https://www.dsausa.org/

[-] 1 points by beautifulworld (22973) 4 months ago

www.dsausa.org

Check it out.

[-] 1 points by ImNotMe (1488) 4 months ago

''Energized to take on President Trump, these voters are also seeking to remake their own party as a ferocious — and ferociously liberal — opposition force. And many appear as focused on forcing progressive policies into the midterm debate as they are on defeating Republicans.

''The pressure from a new generation of confrontational progressives has put Democrats at the precipice of a sweeping transition, away from not only the centrist ethos of the Bill Clinton years but also, perhaps, from the consensus-oriented liberalism of Barack Obama. Less than a decade ago, Mr. Obama’s spokesman, Robert Gibbs, derided the “professional left” for making what he suggested were preposterous demands — like pressing for “Canadian health care.” ...

from your authentic reply & link - to that inauthentic pseud & forum-troll below + the link again:

Furthermore, your link should be of real interest to forum Dem Addict, frf. Eg. also consider this quote:

''Several crucial Democratic victories since 2016 have also come with avowedly moderate standard-bearers, such as Senator Doug Jones of Alabama and Representative Conor Lamb of Pennsylvania, who won grueling special elections. And unlike hard-liners on the right, Democratic activists have not contested Senate primaries in conservative-leaning states where the majority is at stake, allowing centrists to run unimpeded in Arizona and Tennessee.''

When the NYT says ''ferociously liberal'' - it's Americanese for ''Committed Socialists''* lol. So, again:

fiat lux et fiat justitia ...

[-] 1 points by beautifulworld (22973) 3 months ago

Socialism no longer dirty word in USA.

https://www.theguardian.com/commentisfree/2018/jul/29/socialism-no-longer-dirty-word-us-scary-for-some

"A lot of people, people so rich they forget how many houses they own (as John McCain once did), don’t want the idea that wealth should be distributed to the many, not the few, to become normalised in the hyper-individualistic, increasingly unequal US. Unfortunately for them, however, there has been a seismic shift in attitudes towards socialism in America; a country that, for a long time, has stood apart from other industrialised democracies in not developing a notable socialist movement. Socialism is no longer a dirty word in the US, certainly not among millennials, anyway, who face a far grimmer economic future than previous generations. It isn’t surprising that a number of recent polls show millennials are increasingly drawn to socialism and wary of capitalism.

The popularisation of what has been termed by some as ‘millennial socialism’ in the US arguably began with the Occupy Wall Street movement in 2011. Bernie Sanders’ presidential campaign gave it further momentum, and Ocasio-Cortez’s recent win added more fuel to the fire. You can see this trajectory reflected in the membership of the Democratic Socialists of America (DSA). Founded in 1982, it had about 6,000 members for most of its history. Shortly after the 2016 election, the organisation saw a boom in membership, reaching 11,000 paying members in December 2016. Since Trump took power, interest in the DSA has grown exponentially. A spokesman said it hit 47,000 members last week, and has “seen the fastest growth in our history following the win of Ocasio-Cortez”."

Makes me so happy, been waiting my whole life for this. :)

When I first came to this forum in October of 2011 I would not utter the word "socialism." I was too afraid of the establishment, but not anymore. One victory we have had is that all of the activism of the past 7 years or so has made "socialism" and the "one percent vs. the 99 percent" household terms. Class consciousness has returned to the American mind! Yaay!

[-] 1 points by ImNotMe (1488) 3 months ago

''Class consciousness has returned to the American mind! Yaay!'' And that of course, is THE crux of the matter!! When the US Working Class, STOP "thinking of themselves as temporary embarrassed millionaires'' (Earnest Hemingway) & wake up to their COLLECTIVE reality .. then a revolution is in the offing!!! I loved your link, excerpt & expressed sentiments. Thanx & Solidarity to U & yours bw. Also fyi:

dum spiro, spero ...

[-] 1 points by beautifulworld (22973) 3 months ago

Fascism is here people. Portland.

"The far-right groups stood across the street and laughed as they watched police deploy explosive devices on their adversaries."

http://www.wweek.com/news/2018/08/04/in-chaotic-scene-portland-police-launch-flash-bangs-and-pepper-balls-at-antifascist-protesters/

Definition of Fascism: a political philosophy, movement, or regime (such as that of the Fascisti) that exalts nation and often race above the individual and that stands for a centralized autocratic government headed by a dictatorial leader, severe economic and social regimentation, and forcible suppression of opposition

Anti-fascists are against fascism.

Hmmmm. Which group has morality on their side? Those against racism, against oppression?

Which group did the police attack? This is getting ugly in the USA.

[-] 1 points by ImNotMe (1488) 3 months ago

tRUMP is an enabler of racists & fascists. Your link made me sad. Also consider:

Just ten years on from The Outrageous Bank Bailouts .. where is The Outrage?!

radix omnium malorum est cupiditas!

[-] 2 points by beautifulworld (22973) 2 months ago

The outrage continues.

https://www.metro.us/news/occupy-wall-street-anniversary-2018

7 year anniversary of Occupy

As Marni Halasa writes, the Occupy movement was flawed, but those flaws allowed it to live on in the spirit and ideas of the people.

"This is the ironic, yet beautiful, lesson of Occupy. The movement never wanted nor intended to walk through the halls of political power, but years later, it’s spirit lives on, ubiquitously influencing the national progressive agenda and perhaps dominating elections in the future. I’ll always recall a sign when the protesters were getting kicked out of the park, it said: “You Cannot Evict An Idea.” How true that still is today."

Occupy, for me, was more about changing the zeitgeist, the ethos of America. It brought class consciousness back to the soul of the people. And, for that, it was, and is, a resounding success.

[-] 1 points by ImNotMe (1488) 2 months ago

Re. OWS, #S17 & Marni Halasa - who was a close associate with our ex-forum stalwart "Odin'', see ...

Re. - ''Occupy, for me, was more about changing the zeitgeist, the ethos of America. It brought class consciousness back to the soul of the people. And, for that, it was, and is, a resounding success.'' .. my emphatic ditto & solidarity bw & here's the point to frf from a reply that he won't face:

IF USA doesn't have a functional, activist 'Left', then pseudo-liberal, Centerist Dems become the willing

puppets of Oligarchy because history shows Liberals will move right, unless anchored by actual leftists!

With another #S17 coming up, get this: NO OWS; NO Bernie & NO Bernie; NO Alexandra O-C! Geddit?

IF U can't extend politics outside & beyond the Corp.Controlled "Choice" of Duopoly, your facts are fukt!

e tenebris, lux ...

[-] 1 points by beautifulworld (22973) 2 months ago

10 year anniversary of Global Financial Crisis so banks in the UK are celebrating by loosening underwriting requirements for loans and mortgages.(Note the sarcasm.)

https://www.ft.com/content/d08a7ee8-a783-11e8-8ecf-a7ae1beff35b

[-] 1 points by ImNotMe (1488) 2 months ago

''Ten years after Lehmans, it’s as if we’ve learned nothing from the crash", by Aditya Chakrabortty:

''Claims that the finance sector brings jobs and revenue were exposed as a sham – and the rest of us inherited a legacy of debt"!

The 1% and particularly their controllers - The 0.01% have changed N0THING & have NOT learned any lessons since the 2008 Financial Crisis & indeed the thing to really understand .. is that as The 99% are impoverished - The Banker Parasite Class are enriched & empowered. Outrage must NOT be forgotten!

radix omnium malorum est cupiditas ...

[-] 1 points by beautifulworld (22973) 3 months ago

"BlacKkKlansmen," Spike Lee's new movie. I recommend it. Gotta see it to believe it.

And, yes Trump is the racist enabler extraordinaire but I think some good just has to come out of it because racists and racism can't hide when they're being exposed even if they are exposing themselves.

https://www.nytimes.com/2018/08/13/movies/blackkklansman-what-to-read.html

[-] 1 points by ImNotMe (1488) 2 months ago

''Ten years after Lehman collapse few lessons have been heeded'' by Arturo Cifuentes:

''Rating agencies still wield huge influence and investment executives remain unaccountable'' Also fyi...

Spike Lee's ''BlacKKKlansman''is getting rave revues. Maybe I'll have a rare trip to the flicks to go see it.

respice ...

[-] -3 points by DavidJameson (-186) 4 months ago

I hope you'll join us tomorrow at our new Member Call. It's at 9pm. New-York NY. Many of the founding members of DSA will be there.

[-] 1 points by beautifulworld (22973) 4 months ago

"There Is a Revolution on the Left. Democrats Are Bracing." NY Times

https://www.nytimes.com/2018/07/21/us/politics/democratic-party-midterms.html

[-] -2 points by DavidJameson (-186) 4 months ago

Thanks for taking the time to comment beautifulgirl.

[-] -3 points by DavidJameson (-186) 4 months ago

You're morally corrupt.

[-] 1 points by ImNotMe (1488) 4 months ago

Alas Trashy-Manqué, psychological projection of your real nasty nature and ad hominem, are all U have got, and all U have ever had! I challenge U to link to 3 & just 3 (tho' one'd be a start, lol) forum-posts that have ANY relevance to The 99% struggle in USA or the wider world - pulled from any of the hundreds of forum-posts from your 150+ forum user monikers! In the meantime maybe meditate on these three links:

anguis in herba!

[-] 1 points by ImNotMe (1488) 5 months ago

''Meet the Economist Behind the One Percent’s Stealth Takeover of America'', by Lynne Parramore:

''Nobel laureate James Buchanan is the intellectual linchpin of the Koch-funded attack on democratic institutions.''

caveat emptor ...

[-] 1 points by agkaiser (2232) from Fredericksburg, TX 5 months ago

"... Nancy MacLean contends that his philosophy is so stark that even young libertarian acolytes are only introduced to it after they have accepted the relatively sunny perspective of Ayn Rand. (Yes, you read that correctly). If Americans really knew what Buchanan thought and promoted, and how destructively his vision is manifesting under their noses, it would dawn on them how close the country is to a transformation most would not even want to imagine, much less accept.

"That is a dangerous blind spot, MacLean argues in a meticulously researched book, Democracy in Chains ..." from and article by Lynn Parramore, Senior Research Analyst, Institute for New Economic Thinking. Originally published at the Institute for New Economic Thinking website: https://www.ineteconomics.org/perspectives/blog/meet-the-economist-behind-the-one-percents-stealth-takeover-of-america

"Democracy in Chains" https://www.penguinrandomhouse.com/books/533763/democracy-in-chains-by-nancy-maclean/9781101980972/

[-] 1 points by ImNotMe (1488) 5 months ago

''The elite of the world now is much like the main character, J. Gatsby, in Fitzgerald’s paean to 1920’s individualism and wealth The Great Gatsby, without Gatsby’s good qualities. The rollicking parties he hosted were great while they lasted but they couldn’t continue on forever and they left a terrible mess behind to clean up. Now, not many have the will to clean up the grotesque mess left behind by this political and economic system, and in any case they are not holding the reins of power.'' - from ...

Thanx agk for your excerpts and links. Nancy MacLean is an important voice. Keep on sharing the info.

per aspera ad astra ...

[-] 1 points by DKAtoday (33686) from Coon Rapids, MN 6 months ago

Protests by the General Population are growing in number across the USA - will it lead to recapturing the State & Federal Governments by the PEOPLE? Lord knows the republicans are doing their best to alienate the general population - and - that population seems (SEEMS) to be waking up and voting them out of office in record numbers in solid red states! Will This Trend Continue? And if so - will it make a difference? As we need to see the Public UNITE in placing Individuals into office to replace the corrupt individuals with People who are like Bernie Sanders = trying to work for the BEST INTERESTS of The People! BECAUSE - Without a WORKING MAJORITY In BOTH Houses (State & Federal) - the Public will not move forward in Peace Health & Prosperity for ALL!

[-] -1 points by factsrfun (8329) from Phoenix, AZ 6 months ago

The #Resistance Had A Very Good Night

"Two Pennsylvania congressional primaries also pitted progressivism against pragmatism, and the progressives went two for two. In the 1st District, philanthropist Scott Wallace, the grandson of the Progressive Party’s 1948 presidential nominee, defeated former Navy prosecutor Rachel Reddick 56 percent to 35 percent. Reddick had made her conversion from the GOP a centerpiece of her campaign. In the 7th District, a split in the progressive vote nearly caused Democrats to nominate Northampton County District Attorney John Morganelli, who has made comments friendly to Trump and not so friendly to undocumented immigrants. However, Allentown City Solicitor Susan Wild defeated him 33 to 30 percent, with Bernie Sanders-endorsed pastor Greg Edwards in third with 26 percent. More than Nebraska’s 2nd District, both the 1st and 7th Districts in Pennsylvania are true swing districts, with a partisan lean of R+1 and D+0.04, respectively — in other words, they’re almost perfect bellwethers for the nation as a whole. So Democrats have a little more margin for error there in such a Democratic-leaning political environment. (Of course, if that environment changes … )"

Things can change if we seize power....

https://fivethirtyeight.com/features/did-democrats-just-have-their-first-tea-party-moment-of-the-2018-primaries/