Market Overview

Don't Let Occupy Wall Street Be Hijacked!

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The Occupy Wall Street movement, which is spreading across the U.S., has the potential to be a watershed moment. Unfortunately, it also has the potential to devolve into something that is terribly partisan and plays right into the hands of the status quo Establishment which is defined by the fake left/right political paradigm.

The media is doing a masterful job of spinning this movement and now it looks like it may just be co-opted by powerful liberal special interests who seek no change, but rather more of the same. The movement, which is comprised of many different constituencies, encompassing many different causes, is now attracting the attention of powerful leftist groups whose only real concern is getting President Obama re-elected.

To a degree that is fine. If they see elements of the movement that they support, which of course they do, then by all means they should be able to vocalize that support. What should not happen, however, is for these groups to co-opt and hijack the entire movement. This is exactly what the media wants to happen, and it may very well be happening right now.

This is not a liberal movement. It is a populist movement with elements of conservatism, liberalism, libertarianism and many other isms. What is distressing is how the media is labeling Occupy Wall Street as some kind of anti-Tea Party, far left, anti-Capitalist hippie fest. Now, monied left-wing political interests are jumping on the bandwagon in an effort to hijack the populist nature of the entire movement.

This includes powerful unions, the George Soros backed MoveOn.org and Van Jones' American Dream movement. They have every right to lend support to the issues that they want to promote that are being discussed as a result of Occupy Wall Street, but this is not their movement! It is a hundred times more diverse and has not yet fully coalesced.

The original rallying cry of the demonstrations was to get corporate money and powerful special interests out of the political process. How many true conservatives and Tea-Partiers agree with that sentiment? The corporate controlled media, however, is now trying to dominate the narrative of this populist protest. They want it to be the left-wing version of the Tea Party, despite the fact that OWS is railing about many of the same issues and has considerable common ground with the Tea Party.

It fits perfectly into the scam of American politics - the choice between left and right. That my friends, is a delusion, and it needs to be shattered. Both parties have been corrupted by corporate interests and bought off. Both parties have driven this country into the ground. If you look at Obama's policies they are actually quite similar to those of George W. Bush. True liberals can't stand Obama. He betrayed them big time.

The same can be said of true conservatives and George W. Bush. Any honest, independent thinking, conservative really should be able to admit that Bush was an absolutely awful President judging by his record - maybe the worst ever, but Obama is coming up fast on his heels. If we allow OWS to be corrupted by big money, and political special interests, then we deserve what we get, which will be more of the same nonsense from Wall Street and Washington D.C.

Furthermore, it is puzzling how any self-respecting OWS protester can really, truly support Obama with conviction. Obama is Wall Street. Three Mega-banks were among the top 7 donors to his 2008 campaign, with Goldman Sachs (NYSE: GS) registering the number 2 spot. I mean, come on. Wall Street could not wait to get this guy elected. His administration is littered with Goldman Sachs alumni.

Furthermore, he nominated Timothy Geithner to be his Treasury Secretary and re-nominated Ben Bernanke as Fed chief. These are the two architects of the banker bailouts. Let's also examine Obama's "liberal" track record in other regards. First, he expanded the war in Afghanistan, rather than bring the troops home. Second, he went to war in Libya without a declaration. Third, he has not closed down Guantanamo Bay, like he said he would. Fourth, he re-signed the Patriot Act. Fifth, he has expanded the police state and further degraded civil liberties through the expansion of the Homeland Security apparatus.

Now, Obama is carrying out targeted assassinations of American citizens without even a hint of due process. Ron Paul believes that the President could be impeached as a result of the recent drone attack against Anwar al-Awlaki. Basically, when it comes to U.S. militarism, which profits defense corporations and Wall Street, Obama is every bit as bad as Bush. That is just a fact.

The other thing that is troubling about the way that the OWS protest is being portrayed is the logic that some of the less informed demonstrators are using. Essentially, they are saying Wall Street is corrupt (true), and our government has been bought off and is corrupt as hell. If you accept both of these premises, however, then how can the solution possibly be to expand the power of government through more taxes and oversight?

That power, by the nature of the established relationship between politics and corporate cronyism, will invariably be re-distributed right back to the corporations just like it has been for the the last century. It is a bad idea. The better idea is if the Tea Party and OWS could find some common ground based on logic. The Tea Party thinks the government is the problem (as do many factions of OWS). The Occupy Wall Street movement is blaming corporations, and to a lesser extent the government.

Well guess what? They are both the problem, and particularly, the relationship between the two, which has led to corporate cronyism, socialism for capitalists, and rigged markets is the major problem! Let's start there. Let's take back the power from both of them. How do we do that? If you want to return the power to the people, end the Federal Reserve. The Fed sponsors the "Too Big To Fail" banking cartel, which is Wall Street in its most corrupt form.

Furthermore, the Fed is the primary mechanism through which the government is able to expand and grow its power. Through its power to print currency and buy U.S. debt, the Fed subsidizes the trillions of dollars in deficit spending. This in turn, increases the size, scope, and power of government on a perpetual basis. The Federal Reserve is the lifeblood both of Wall Street and out of control government.

Let's not let this moment pass us by. The people are rightfully pissed off and Occupy Wall Street has tremendous potential to enact real change. But, in order to do so, we cannot allow it to be co-opted by special interests whose only real goal is to maintain the status quo, fake right/left political paradigm, which is designed to keep the power concentrated in just a few hands. Educate yourself and do not be fooled.

Posted-In: Ben BernankeNews Politics Events Global Economics Markets General Best of Benzinga

 

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