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Wednesday, October 19, 2011

Dems to OWS: You're on your own, Jack

Wall Street to Dems: you can't have it both ways
After the Democratic Congressional Campaign Committee sent a recent email urging supporters to sign a petition backing the wave of Occupy Wall Street protests, phones at the party committee started ringing.

Banking executives personally called the offices of DCCC Chairman Steve Israel (D-N.Y.) and DCCC Finance Chairman Joe Crowley (D-N.Y.) last week demanding answers, three financial services lobbyists told POLITICO.

“They were livid,” said one Democratic lobbyist with banking clients.

The execs asked the lawmakers: “What are you doing? Do you even understand some of the things that they’ve called for?” said another lobbyist with financial services clients who is a former Democratic Senate aide.

The Occupy Wall Street movement, like the larger Left, is fundamentally incoherent. Do they really think all that vast welfare state infrastructure and social engineering would be possible just from current tax revenues? Do they realize the degree to which all levels of government in the US are reliant on Wall Street's leveraged financing schemes? Are they aware that a slight majority of voters with income over $200K voted for Obama?

Come to think of it, I haven't seen Obama or any other Democrat of much weight out there on the pickets.

It's funny and kind of sadly predictable how these movements degenerate into the typical hippy Marxist cornucopia: "free" medical care, END RACISM!, etc. The policies actually causing the harm--inflation, artifically low interest rates, rent seeking--are all stupidly (or deliberately) ignored.

Also, this is pretty funny too:

3 comments:

Anonymous said...

not as funny as watching someone run into the electric fence and fry.

http://www.youtube.com/watch?v=zmXUtwTLcQA

Anonymous said...

i believe soros may be behind some of the ows funding. one analysis i've read suggests that his liking for a tobin tax - shared by the ows crowd - favours position-traders (low-frequency traders such as soros), and hurts jobbers and market-makers (high-frequency traders).

could be a way to thin out competition for someone who doesn't mind less liquid markets.

Visibilium said...

Hilarious pic!