Forum Post: Things We Can Do to Take Down Wall Street and Corporate America

The protests have done an amazing job in getting the message out and I wanted to create a post where people could post their ideas on what we can do as everyday Americans to bring down Wall Street and Corporate America.

My recommendations listed below are things that will financially target Wall Street and large corporations, who have perpetuated policies that have benefited the rich, while enslaving the average American.

1.) Sell all stocks, bond and mutual funds - I am sure that most of the "99%" have done this, but I am listing this just in case some people still own financial instruments that Wall Street profits from.

2.) Stop paying interest on your loans - The banking systems makes most of their money off the interest you pay on your loans. Since 2008 the money that banks are lending, they received from the Fed at 0% interest so any interest they make is a profit for them. If you are already in debt then do whatever possible to pay off your debt. If your debt is too large to pay off then I suggest you file for bankruptcy. Bankruptcy is an extremely expensive ordeal for most banks. The banking system is no way designed to deal with large volumes of bankruptcies. A substantial amount of bankruptcies could easily bring down Wall Street. In the end do the math and figure out what is the better option for you.

3.) Stop using credit cards or bank cards for purchases or cash advances - Banks and credit card companies collect about 2% to 5% commission from merchants every time you use your credit card. They tend to make a lot of money off the backs of merchants and individuals. Try to keep a reasonable amount of cash ($100 to $200) on you at all times to pay for gas and food. For expensive purchases simply go to the bank machine and withdraw the money before buying an item. In some cases when buying expensive items with cash you are more likely to receive some discount from the merchant. As a rule of thumb, if you do not have the cash to pay for an expensive item do not buy it, unless your family or you need the item to survive or the item will financially profit you in some way.

4.) Save your money - This is Ben Bernake's and Wall Street’s greatest fear. The factories and businesses of the "1%" are at over production and over capacity right now. If demand was to drop from the American consumer then it would bring down all the incompetent corporations that did not see this eventual credit contraction occurring. Keep buying things you need to survive but stop buying things that will add no value to your life, especially if you have to go further into debt.

5.) Take care of your mind and body - This is probably one of the worst things that could happen to American consumerism and the health care industry. Imagine an America where people do not need a new car, big house or IPhone to feel good about themselves. This would destroy the heath care industry. We are talking about an industry responsible for 60% of personal bankruptcies in the US and health care spending account for 16% of the US GDP. If you manage to reduce your intake of processed junk food and increase you intake of vegetables and fruits this will not only improve your physical health but also your mental health. There is countless research on physical and mental disorders simply caused by mineral or nutritional deficiencies, yet most doctors and psychiatrists try to cure these disorders through expensive medication.

Also I would love to see other practical ideas on how we can take down Wall Street.

The Cathar