Wall Street responds to the OWS movement.

Posted by Arkady K. On 10/26/2011

A reader passed this link along and I am compelled to share. This will of course not endear the movement to the wealthy and in fact reads more like a threat than anything, but is impossible to disagree with.

Most important point is that people are looking for a scapegoat.

Indeed when this country was juiced up on Fed funny money nobody was complaining. When people extracted equities out of their house to go on vacation nobody was complaining. When employment dipped under 5% under Bush nobody was complaining. When every mutual fund under the sun was making money by just buying and holding and 401ks ballooned, nobody was complaining.

Yet when the credit stopped flowing and the poor investments had to be erased then came the pain. Lots of pain. Instead of biting the bullet and bracing for austerity ACORN, unions and other radical leftists decided in the wisdom of Rhamb-o to utilize this crisis as best as possible.  Ahh, people will never learn.  Yesterday's Jews are today's Wall Street executives.

Second point, what will happen if indeed some of the most hard working and educated Americans decide to leave their reviled jobs and enter mainstream America.  Not only will this have the same negative effect as the luxury tax did once their money dries up, but the last thing we need is more labor competition in a country where bankruptcy and downsizing awaits.

Response: (click for larger image)

"It is no crime to be ignorant of economics, which is, after all, a specialized discipline and one that most people consider to be a ‘dismal science.’ But it is totally irresponsible to have a loud and vociferous opinion on economic subjects while remaining in this state of ignorance.” - M. Rothbard