Robert Paul Wolff, now a Grand Old Man, reflects on Occupy Wall Street,
… the Occupy Wall Street Movement has already won, since it has utterly changed the public conversation in America. The brilliant polemical device of defining the fundamtnal issue as a struggle between the 1% and the 99% — a definition that cannot, of course, withstand any sort of serious political and economic analysis — has thrust into the public space the issue of income and wealth inequality and the consequent power inequality. Precisely because the roots of this inequality lie so deeply embedded in the structure of capitalism, no laundry list of manageable reforms can address it. The refusal of the OWS movement to formulate such a list is strategically brilliant, and infuriating to those in Washington who would just like to know "what they want" so that a palliative deal can be struck.
The success of the movement is astonishing when one reflects on how small it is. I may be way off, but it seems to me that nation-wide there cannot have been many more than forty or fifty thousand active OWS participants. Now, this is a nation of roughly 330,000,000, so the movement has involved maybe fifteen one thousandths of one percent of the population. Any Sunday pro football game is probably watched by twice that many people in the stands.
Myself, I don’t think OWS has yet won quite as much as this suggests. OWS has moved the Overton window, but I think our national conversation on wealth and inequality is still not back to where it was in, say, the Great Society days. As of yet, there’s no sign taxes will regain the progressivity they had under Nixon or Reagan, not to mention Eisenhower.
When Mitt Romney Came To Town — Full, complete version
The amazing thing about this 28-minute-long Occupy Wall Street-style hit piece is who made it: Newt Gingrich’s Super PAC.
Barney Frank was widely quoted when he said, “I never thought I’d live such a good life that I would see Newt Gingrich be the nominee of the Republican party.” Turns out even if you lived only a sort of good life, Newt is just great as a spoiler.
Perhaps it is time to subject investment bankers and derivatives traders to routine random drug tests. It’s widely believed that many of them use cocaine (although meth use may be rising), and I read that drug use on Wall Street is a real problem, although of course it has also beem rampant for a long time. The health of the economy is too important to be left in the hands of potentially drug-addled brains.
After all if it’s necessary to drug test welfare applicants and unemployed people seeking job training (who have the same 2% positive rate as found on Wall St) and high school football players, it is all the more important to drug test the masters of finance given the enormous effect that their work has on others.
Or, perhaps, we should agree to only drug test people armed with weapons or holding security clearances?
Just 6 Walmart heirs have as much wealth as 30% of Americans.
That works out to about six people having the wealth of 90 million people in the US.
David Atkins writes at Hullabaloo
There is a serious culture war at work in the United States. It involves a courageous minority of outraged citizens up against a majority that is either apathetic, or directly defending of the agents of the status quo. That minority suffers the slings and arrows of contempt and cursed spite as it does its best to set right a nation in times out of joint, and only years or even decades afterward do the majority of citizens cast a fond gaze backward, imagining that they were or would have been on the activists’ side at the time. The capacity of society for anachronistic delusion and self-regard is nearly limitless.
Just as Glenn Beck’s venomous followers comically attempt to adopt the mantle of Martin Luther King, Jr., so too will some right-wing blowhard 30-40 years from now claim to embody the spirit of the heroes of Zuccotti Park in the service of whatever reactionary force they happen to be extolling a generation hence.
Thus has it always been, and thus will it ever be.
This is an heroic narrative. But isn’t there something about it that doesn’t ring quite true?