Guess my first question would be why, however I digress before even getting started because as I write this I’m sitting here in Asia. In fact I’m in Taiwan watching the international version of CNN as well as the BBC, as there aren’t a lot of English speaking channels here if you know what I mean.
However the reporting here is wholly different then what we get in the United States as the reporting of both portray America as a land of capitalistic greed with the “upper social classes” stealing from the mouths of those perceived to be lesser fortunate. Which really gets me thinking as what do these protesters really expect to gain out of this? While to a certain extent I have to admit part of Wall Street is flawed, yet it also provides for something amazing and that is to allow the little guy to get in on big things. As just try this elsewhere in the world, I say these folks should move to China and the first thing they will find is they can’t protest and by the way they get what the government wants them to have so forget about investing.
While in this same vein, the right to protest is a key liberty we as Americans have, however there needs to be a point exercising the right. There needs to be a goal and it needs to be valid for society and not just a bunch of grudged up Gen-Yers who’s parents have supported them based upon the same machine which they are protesting the evils of. Even based upon the news reports, one could easily question if they realize how the stock market works and why it exists at all.
As mentioned the system isn’t without its flaws and if they want to call attention to those so they can be improved that’s a fine and supportable endeavor as even I lose sleep that even after the debacle of 2008 and the mortgage melt down that the regulators have not eliminated nor cracked down on the use of “synthetic” investments. Also, while I’ve seen some movements towards a return to Glass–Steagall type rules, banks should have been immediately banned from trading activities as I said it in the day and will say it again, banks should not trade!
However aside from this, anywhere else, where are you going to get this [the ability to invest], having traveled the world I can tell you that we in the states have it the best when it comes to the open access of financial markets and the ability to profit from them. So why are these folks protesting, should they instead be grateful that they have a chance few people in the world have? As they have the right to participate in the greatest capitalistic market in the world which allows them the creation of their own destiny…