Powered By Blogger

About Me

Retired chief investment officer and former NYSE firm partner with 50 plus years experience in field as analyst / economist, portfolio manager / trader, and CIO who has superb track record with multi $billion equities and fixed income portfolios. Advanced degrees, CFA. Having done much professional writing as a young guy, I now have a cryptic style. 40 years down on and around The Street confirms: CAVEAT EMPTOR IN SPADES !!!

Tuesday, October 25, 2011

Occupy Wall Street (OWS)

This is basically a rather small protest movement. But it has received a wide and sympathetic
hearing. The protesters are burrowing in on inequities in the US economic and political system
with the prime emphasis on the unequal distribution of economic rewards and the current deeply
plutocratic drift of US politics and political influence. The main themes revolve around the
issue of fairness in economic reward and politics. As a rule, battles for fairness in US society
are long and arduous affairs. The movement has been correct not to lay out a specific agenda but
to create an atmosphere where individual Americans can reflect on the general idea of
maldistribution in the economy and top heavy political influence and draw individual conclusions.

The danger for any protest movement in the US  is that it can be hijacked by the more fervent and
radical elements and wind up being marginalized in short order. This is particularly true for the political
Left which invariably comes acropper of established authority and the general public because it
tends to veer toward centralized authority and toward challenging long cherished rights to
private property and enterprise. Best OWS does not head in that direction, but remains a forum
that abides by the law. Stick with the promotion of equality of opportunity folks. So far so good.

No comments: