For those of you who somehow forgot, today’s a special day: the first birthday of the “Occupy movement.”
The Occupiers celebrated the big day by staging some protests in lower Manhattan. About a thousand protesters gathered and tried to block access to the New York Stock Exchange and various office buildings, and about 150 were arrested for disturbing the peace. The stock market and other capitalistic activities went on undeterred, but one Occupier was enthusiastic about the turnout. “It is encouraging getting 1,000 people out to do anything,’’ he said.
It’s hard to believe that the “Occupy movement” started only a year ago. For a time the media and some politicians acted like the “Occupy movement” was going to be the next big wave, and there was a seeming obsession with breathless reporting about how the Zuccotti Park protestors engaged in self-government, used the “human megaphone,” and had drummers pounding away day and night. It seems like ancient history now, doesn’t it? What was supposed to be the next big thing now can only command a thousand protestors to commemorate a big day for the “movement” — and you’d be hard pressed to identify anything that was truly accomplished as a result of the urban encampments and drumming.
There may still be “Occupy” activities going on somewhere in Columbus, but if so I haven’t seen or heard of them. On its first birthday, it seems like there’s not much movement in that “movement.”
Here is an interesting article regarding some of the eerie similarities between the politics / stock market back in 1937 and the politics / current stock market of 2010. Don Luskin, the column writer is a frequent guest and contributor on CNBC’s Kudlow Report. If he is correct and history does repeat itself then we may be looking at a BIG drop in the stock market some time in the near future.
I think that Peter Orszag’s (Obama’s Former Head of the Office of Management and Budget) approach that he outlines in his op ed piece a few weeks ago in the New York Times is the most appropriate way to handle the Bush tax cuts.
Having recently read a book on Hebert Hoover and the Great Depression, I am reminded that one of Hoover’s biggest mistakes was worrying to much about the deficit / debt and raising taxes when he shouldn’t have. I hope President Obama doesn’t make the same mistake.
I caught Peter Orszag’s interview with Charlie Rose www.charlierose.com awhile back and he talked about some troublesome issues which are coming our country’s way as early as 2015. He touches on it briefly in his op ed where he says that the only way out of this mess is for us to raise taxes sometime in the near future. I can already hear the Republican’s screaming that President Obama is a “Tax and Spend Liberal” if the economy does recover in a couple of years and he decides to tackle the deficit.
Being a recent retiree it looks as though the first few years of my retirement are going to be anything but a smooth ride, more like one of the old wooden rollercoasters that Bob calls a headbanger – hold on tight !