Category Archives: Occupy Wall Street

Interesting Article with Gerald Celente

I was reading this article today.

It’s about a guy called Gerald Celente who is well know in financial circles, and how he lost a whole lot of money in the MF Global meltdown.  They basically went into his account (which was a cash account) and took the money!

Anyway, this bit was pretty relevant to my post on the revenue gathering activities of the NZ Police a couple of days ago:

Gerald:  I know. As I’m saying the whole system is corrupt from top to bottom. All you have to do is look at the facts. I just got a ticket. I didn’t obey a stop sign and I have been driving for almost 50 years with no violations. So I get written up for $160. $160 for not obeying the stop sign. And this kid, 22 year old perfect little Nazi, I said to him, can I talk off the record here a little bit after I get this ticket. I said this is a lot of bologna. You are breaking people like me for this. I’m fortunate I can afford this. There was a time in my life when I couldn’t. How about all of these people where that kind of money means putting food on the table? And that is all this country has become. And the police should be ashamed of themselves some of these police. The violence that they are using to break up peaceful protestors. They got enough body armor to walk through the battle of the bulge unscathed and look what they do they protect Wall Street. They protect Wall Street. They become nothing more than enforcers for the criminal financial crime bosses and their enablers, the politicians. Look at the scandal that just came out—that continues to come in and out of the news again and again— about the insider trading that goes on throughout congress.

This is how I feel about getting a ticket.  It’s a lot of money for basically making a very small mistake.  And I can afford to pay $120 for my little lapse of concentration, but what about the families down the socio-economic ladder?  Who struggle to put food on the table?

These tickets should not be issued at all unless the driver was doing something really dangerous or reckless.  Otherwise it’s really just totalitarianism in my book.

Another Good Article by Matt Taibbi

I really like Matt Taibbi’s articles over at The Rolling Stone.

In this article, The Meaningless Sideshow Begins, he talks about how the wealthy basically buy elections in America.

This paragraph is particularly good:

Most likely, it’ll be Mitt Romney versus Barack Obama, meaning the voters’ choices in the midst of a massive global economic crisis brought on in large part by corruption in the financial services industry will be a private equity parasite who has been a lifelong champion of the Gordon Gekko Greed-is-Good ethos (Romney), versus a paper progressive who in 2008 took, by himself, more money from Wall Street than any two previous presidential candidates, and in the four years since has showered Wall Street with bailouts while failing to push even one successful corruption prosecution (Obama).

Both camps got given lots of money last time around by Wall St banks and their lawyers.  As they will this time.  But interestingly at a court in Montana:

HELENA — The Montana Supreme Court restored the state’s century-old ban on direct spending by corporations on political candidates or committees in a ruling Friday that interest groups say bucks a high-profile U.S. Supreme Court decision granting political speech rights to corporations…

Are things going to change one day in US politics?  Will the best candidate and not just the best fundraiser win?

Capitalism for the Masses, Socialism for the 1%

Here’s another article explaining what is wrong with capitalism etc. these days:

For corporate welfare queens and their crystal baths, there is no benefit cap

Limited liability, offshore secrecy regimes and state handouts ensure those at the top bear none of the costs they inflict on us

Daniel Pudles 2211

Illustration by Daniel Pudles

In the documentary series which finished on Friday evening, the heiress Tamara Ecclestone set out to prove that she isn’t “a pointless, quite spoilt, really stupid, vacuous, empty human being”. This endeavour was not wholly successful. Channel 5 showed her supervising the refurbishment of her £45m home in London, in which she commissioned a £1m bathtub carved from Mexican crystal, an underground swimming pool complex, her own nightclub, a lift for her Ferrari, a bowling alley with crystal-studded balls and a spa and massage parlour for her five dogs, to save her the trouble of taking them to Harrods to have their hair sprayed and their nails painted. But there was something the series didn’t tell us: how much of this you helped to pay for.

Rest of Article

I think this bit sums it up best:

Socialism for the rich, capitalism for the poor: that is how our economies work. Those at the bottom are subject to the rigours of the free market. Those at the top are as pampered and protected as Tamara Ecclestone’s dogs.

 

Well I think capitalism should apply to everyone.