New York City –
Occupy Wall Street, OWS, has seen its numbers grow exponentially, in terms of offshoot supporting groups around the U.S. and the world, the amount of money it is raising, and the varied interest groups now supporting it.
Today has seen a large demonstration of the “Occupy” groups around the world demonstrating and marching in various cities, over 800 are planned just for Monday, Today.
Their message is resonating with ordinary people but seems to be lost on the rich and politicians. OWS primary message is the gap between rich and poor has grown too large and unacceptable, and that this gap will produce a weaker economy overall in the long run. They also want to see big bankers be prosecuted for their parts in the mortgage meltdown that leads to the last recession, often referred to as the great recession. They also say the laws and tax codes allow the rich to pay nothing and put the burden on the middle class and the poor to shoulder the debt and expenses of the nation.
Statistically speaking, it is the middle class that supports the economy, and small businesses still make up 2/3rd’s of the GDP of the U.S.
Shortly after the bailout by taxpayers, big banks began making record profits and record bonuses. Hedge funds and big banks have been sitting on over $1 trillion in liquid cash reserves and don’t show any signs of spending it, investing it or using it to grow their businesses or hire people.
Protests in Rome turned violent as demonstrations were halted by police. “The majority of people in this country and around the world are tired of big corporations and big money ruling the world,” said Bruce Wright, 50, of St. Petersburg, Fla., who helped organize the demonstration at Freedom Plaza in Washington.
As the demonstrations continue, Republicans have come out squarely against it, and this could hurt them at the polls come November 2012 on election day. But the real measure of this demonstration and protest is if it can maintain its momentum and power until the elections. If so, then it can justifiably be called a revolution. Republicans have vowed to spend and spend to discredit the movement, despite millions of Americans still out of work.
We asked the Republican National Chairman why the Republican Party would rather spend millions on defeating OWS and its movement rather than spend the money on helping our economy recover and put Americans back to work. They have not responded.
For their part, Democrats have largely supported OWS or remained silent. But the same Democrats have been spending large sums of money making sure they remain in office and not much on contributing to the joblessness in America.
More headlines here.