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Date: 10/06/11 08:43 AM

41 Responses to People Over Profits! Occupy Chicago! Day 09

  1. Profile photo of ledzeppeloyd
    ledzeppeloyd Male 18-29
    2385 posts
    October 6, 2011 at 8:46 am
    Link: People Over Profits! Occupy Chicago! Day 09 - Protests now occupy the Chicago Board of Trade. We are 99%!!!
  2. Profile photo of Klamz
    Klamz Male 18-29
    689 posts
    October 6, 2011 at 9:08 am
    I agree with them on a few basic principles, but as I`ve said before, this accomplishes nothing unless they have the majority of the people supporting them, in which case, they can easily get a spot in the presidential race and win and change things to how they want.

    But if they don`t have the majority, then they have nothing, nothing will change, it will slowly go away, and in the meantime they will just be a nuisance.

    So either stand up with them, or sit back in your chair like I am and just accept that things are the way they are and they aren`t going to change very much.
  3. Profile photo of Aedran
    Aedran Female 18-29
    295 posts
    October 6, 2011 at 9:12 am
    Why are they protesting stock exchanges? Shouldn`t they go after the politicians who keep approving laws which cause our economic disaster??
  4. Profile photo of Gerry1of1
    Gerry1of1 Male 50-59
    36207 posts
    October 6, 2011 at 9:31 am

    They protest stock exchanges because that location represents the corporations that have purchased the politicians that betrayed them.
  5. Profile photo of madest
    madest Male 40-49
    7379 posts
    October 6, 2011 at 10:06 am
    this accomplishes nothing unless they have the majority of the people supporting them.
    ------------------
    OWS does have majority support. A Rasmussen poll out today has 50% Dems and independents have a favorable view while 43% Republicans have a favorable view. The remainder have either an unfavoable view or no opinion. Which are you?

    BTW: 64% have an unfavorable view of the Tea Party. Just so you know.
  6. Profile photo of Gerry1of1
    Gerry1of1 Male 50-59
    36207 posts
    October 6, 2011 at 10:13 am

    I have swayed. At first I was not favorable, but now I get what`s happening and I am supporting the hipsters... I mean hippies.... I mean whiners... I mean protestors. Sorry, I`ve watched too much Fox News.
  7. Profile photo of simbha
    simbha Male 30-39
    412 posts
    October 6, 2011 at 10:17 am
    The problem with this movement is that there`s no clear message. I empathize with these people that they have been hurt by the current recession and the economic and political policies of over 30 years - but what, exactly, do they want accomplished?

    One of the fundamental problems with the current state of the economy is not that wealthy investors are too greedy - but rather that they`re not being greedy enough. What the heck am I talking about? I`m talking about the fact that large corporations are holding record stores of cash (although this is down slightly since the beginning of 2011). Wealthy private and institutional investors (nay - all investors) in these companies should be livid about these unprofitable holdings. If investors force management to invest this cash into production and R&D, it will automatically stimulate employment without the need for government monetary intervention.
  8. Profile photo of madest
    madest Male 40-49
    7379 posts
    October 6, 2011 at 10:29 am
    So simbha, You`re ok with your 401K being gutted from risky investments that were manufactured by Wall Street, insured by Wall Street and rated AAA by Wall Street? Then having the world economy crash when their gamble didn`t pay-off and your tax dollars propping up Wall Street while the country is littered with abandoned homes and dreams? That`s all fine by you and Wall Street should be more greedy? Wow that`s some logic you got there. No surprise you`re from the south.
  9. Profile photo of madest
    madest Male 40-49
    7379 posts
    October 6, 2011 at 10:30 am
    Here`s the perfect example of the 1%
  10. Profile photo of simbha
    simbha Male 30-39
    412 posts
    October 6, 2011 at 10:54 am
    Yes, Madest. I`m from the South. Very nice bias.

    I also hold a PhD in economics, an MBA, and an MS in Finance. I co-own (with my wife) a successful small business which generated $2.4 million in revenue last year and employed 41 people.

    I don`t rely on Wall Street`s assessments of funds/investments and conduct my own analysis for the portion of my portfolio which I actively manage. For the rest, I seek either funds which are well-balanced in their beta diversity or construct my own.

    Don`t get my statement wrong: The fund industry has somehow finagled a social contract in which it derives the majority of its income from the management of funds - not their growth. Given that estimates indicate that roughly 70-80% of investments in public companies is controlled by institutional investors, they are the ones who have to take action - and they`re not. And, that`s a violation of our social contract with them!
  11. Profile photo of madest
    madest Male 40-49
    7379 posts
    October 6, 2011 at 11:07 am
    OK good for you smart guy. Most people don`t have economics degrees and invest in 401K`s. Imagine being on the eve of retirement and having your retirement funds cut in half through no fault of your own. Try for one goddamn second to put yourself in those shoes and come back and lecture everyone on how Wall Street wasn`t greedy enough.
  12. Profile photo of LillianDulci
    LillianDulci Female 18-29
    2674 posts
    October 6, 2011 at 11:37 am
    "The problem with this movement is that there`s no clear message."
    The problem is not that there`s no clear message. There is a clear message (well, messages that are related, for example they are protesting against corporations buying politicians), they`ve stated it plenty of times. The problem is that the media wants to make it look like a joke (because they support what these people protest against) so they`ll say "there`s no clear message" or that "the people don`t even know what they`re protesting for" when that`s not even close to reality.
  13. Profile photo of polglowa
    polglowa Male 30-39
    43 posts
    October 6, 2011 at 12:11 pm
    @ Simbha: "And, that`s a violation of our social contract with them!"

    What social contract? Would you mind showing me this social contract which you speak of?
  14. Profile photo of Solvent
    Solvent Male 18-29
    2842 posts
    October 6, 2011 at 12:16 pm
    Somebody get the anti dumbass serum, the hippies have converted Madest!
  15. Profile photo of Wowummwow
    Wowummwow Male 18-29
    265 posts
    October 6, 2011 at 12:17 pm
    "Imagine being on the eve of retirement and having your retirement funds cut in half through no fault of your own."

    Several co-workers mine who are a couple of years from retirement were informed their pension would not be honored nor would they receive medical benefits when that day comes.
  16. Profile photo of Gerry1of1
    Gerry1of1 Male 50-59
    36207 posts
    October 6, 2011 at 12:18 pm

    The government will never create new jobs. We have to do that ourselves.
    Burn down all governement buildings.
    They will have to rebuild making construction and supply jobs.
    Those workers will spend money at Dennys and Best Buy creating new jobs.

    When the buildings are complete, burn them down again.

    Torch Economics... it could work.
  17. Profile photo of Fatninja01
    Fatninja01 Male 30-39
    25408 posts
    October 6, 2011 at 12:27 pm
    Although the protests are being done... will it change anything?
  18. Profile photo of simbha
    simbha Male 30-39
    412 posts
    October 6, 2011 at 12:36 pm
    @LillianDulci: I think the theme is clear, but the message is not. If eighteen heads of major Wall Street investment firms came down to the street and said "Okay, let`s hear it. What is the one thing you want us to do more than any other?" I don`t think most protesters would have an answer.

    By the way, I have two very good friends participating in these protests.
  19. Profile photo of randomxnp
    randomxnp Male 30-39
    1293 posts
    October 6, 2011 at 1:47 pm
    "We are 99%!!!"

    No, a tiny cadre of selfish, self-opinionated losers. The Tea Parties are far larger, and they can`t both be 99%.
  20. Profile photo of Heureux
    Heureux Male 40-49
    1054 posts
    October 6, 2011 at 1:59 pm
    "No, a tiny cadre of selfish, self-opinionated losers."

    On the other hand, they are not on the internet calling other people "losers" in order to make their own lives seem less pathetic and wasted.

    Doing something is still closer to winning than doing nothing ever can be.
  21. Profile photo of Heureux
    Heureux Male 40-49
    1054 posts
    October 6, 2011 at 2:02 pm
    " Thursday, October 06, 2011 10:54:47 AM
    Yes, Madest. I`m from the South. Very nice bias.

    I also hold a PhD in economics, an MBA, and an MS in Finance. I co-own (with my wife) a successful small business which generated $2.4 million in revenue last year and employed 41 people. "

    Pics or it didn`t happen. Anyone can claim to be anything on the internet.
  22. Profile photo of sethmccary
    sethmccary Male 18-29
    208 posts
    October 6, 2011 at 2:14 pm
    @Randomxnp : You missed the whole point. Please become more informed before professing your own opinions, with no facts to back it up
  23. Profile photo of sethmccary
    sethmccary Male 18-29
    208 posts
    October 6, 2011 at 2:15 pm
    You`re making sense Gerry! I likey
  24. Profile photo of simbha
    simbha Male 30-39
    412 posts
    October 6, 2011 at 2:30 pm
    @Heureux: I don`t cower behind internet anonymity, but I also have no interest in fielding emails or calls from those who wish to contact me - for support or derision. I`ll allow my written words to speak for themselves; if that`s not enough, then I care little to none.

    And my purpose in stating my position or education was not to stand as elitist (far from it) but rather because the tone of Madest`s post implied that people from the southern US were somehow of a particular type; I inferred that type to be both of a political leaning and a lack of educational background. As an Indian American, I don`t generally fit the stereotype of `southerners`.

    That`s all.
  25. Profile photo of simbha
    simbha Male 30-39
    412 posts
    October 6, 2011 at 2:37 pm
    @Madest: I have been in those shoes in the past. And, if you`ll read my original post carefully, you`ll find that I am not supporting abject greed. Instead, I argued that more greed on the part of investors - not corporate executives - would lend itself to improving the current jobs situation. S&P 500 companies are currently holding roughly $1 trillion in CASH (and cash-equivalent short-term security investments). That`s money that could be far better put to use investing in R&D (for example). The only way for that to happen is for shareholders to become more `greedy` and drive corporate managers to invest those funds into the future of the respective company.

    And, you`re right - Most people don`t have the educational background I have. However, it doesn`t take much to learn about basic investment techniques. In Houston, Texas, where I live, I have advocated the creation of `personal finance` courses in middle schools. I believe such programs will help.
  26. Profile photo of madest
    madest Male 40-49
    7379 posts
    October 6, 2011 at 4:47 pm
    $2.4 million last year huh? Good you`re gonna get your taxes raised. The 99% have no problem with that.
  27. Profile photo of Grendel
    Grendel Male 40-49
    5879 posts
    October 6, 2011 at 5:09 pm
    Heureux-"Doing something is still closer to winning than doing nothing ever can be."

    Doing something contructive is constructive. Doing something stupid is still stupid. THIS falls in the latter catagory.

    madest-"The 99% have no problem with that."

    You`re not the 99%. THEY are not the 99%. THEY are not even the 9.9%. I doubt they even qualify for 0.99%. The 99% DOES NOT EXIST. It`s just a crappy catch-phrase that they think gives them delusions of mediocrity. Just another example of Class Warfare. You know, the Class Warfare the Dems claim they are not engaged in.
  28. Profile photo of madest
    madest Male 40-49
    7379 posts
    October 6, 2011 at 7:09 pm
    MeGrendel, You`re one of the 99%. Hahaha
  29. Profile photo of Grendel
    Grendel Male 40-49
    5879 posts
    October 6, 2011 at 7:45 pm
    madest-"You`re one of the 99%."

    Sorry, I`m not a member of a fanciful group dreamed up by infantile ravings of idiots with a bad case of `victimhood`.

    Life is hard.

    Life is not fair.

    No one owes you anything.

    Deal with it.
  30. Profile photo of OldOllie
    OldOllie Male 60-69
    15844 posts
    October 6, 2011 at 8:33 pm
    Lenin`s useful idiots.
  31. Profile photo of clockwork208
    clockwork208 Male 30-39
    835 posts
    October 6, 2011 at 9:47 pm
    "Lenin`s useful idiots."

    Boring troll is boring. You`re better than this. Entertain me.
  32. Profile photo of thatjimguy
    thatjimguy Male 30-39
    458 posts
    October 6, 2011 at 10:07 pm
    Would love to believe this will pan out to something more than a low income riot...but no...it will be squashed because no one knows what is going on
  33. Profile photo of Linkenberger
    Linkenberger Male 18-29
    1164 posts
    October 6, 2011 at 10:32 pm
    America should get back on the gold standard! THE FIAT STOPS HERE!!

    Let`s see how that goes down with the comments.
  34. Profile photo of kcpd2050
    kcpd2050 Male 40-49
    330 posts
    October 6, 2011 at 11:23 pm
    Without a clear cut agenda these "protestors" look like disorganized idiots. Down with greed in big business. Seriously? This is the friggin USA, this country was founded on greed. Protest. I get it. But be organized.
  35. Profile photo of insane_ai
    insane_ai Male 30-39
    740 posts
    October 7, 2011 at 5:58 am
    America should get back on the gold standard! THE FIAT STOPS HERE!!

    Let`s see how that goes down with the comments.

    What is the point in a gold standard when the government can change the value of gold vs. dollars at will? It will still be a fiat currency, just more complicated.
  36. Profile photo of dm2754
    dm2754 Male 40-49
    3284 posts
    October 7, 2011 at 10:13 am
    what a waste of time
  37. Profile photo of LillianDulci
    LillianDulci Female 18-29
    2674 posts
    October 7, 2011 at 10:18 am
    simbha, perhaps that`s because it`s not a single problem. Not all of life issues can be reduced to one small thing that`s more important than the rest. Their message is still very clear for anyone who cares to listen to them.
  38. Profile photo of QualityJay
    QualityJay Male 18-29
    303 posts
    October 7, 2011 at 2:31 pm
    "What is the point in a gold standard when the government can change the value of gold vs. dollars at will? It will still be a fiat currency, just more complicated."

    Holy balls that`s an uneducated response. Government cannot change the value of gold. No one can, and no one ever has.

    It`s not fiat currency when you can redeem your dollar bill for a specific amount of gold.

    Plus, the government doesn`t control currency production, the federal reserve (a private bank) does. A gold standard would put a stop to this
  39. Profile photo of Fatninja01
    Fatninja01 Male 30-39
    25408 posts
    October 7, 2011 at 2:35 pm
    love the cosplay efforts
  40. Profile photo of Viking864
    Viking864 Male 40-49
    1444 posts
    October 7, 2011 at 5:54 pm
    I wonder if they put this much effort into finding jobs or more importantly creating new businesses
  41. Profile photo of ledzeppeloyd
    ledzeppeloyd Male 18-29
    2385 posts
    October 8, 2011 at 12:46 am
    people are waking up

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