I just want to weigh in on something.
I’m certainly one of the 5%-ers, and I sympathize with the OWS folks. BUT, from a disinterested, armchair point of view, I don’t think they hate the rich, or hate corporations, or want to see capitalism dismantled. That’s not the sense I get, and if it were, I would not be sympathetic.
No, I think what is making them crazy is that:
-Power seems to be ever-concentrating in the hands of an elite few, who have access to the levers of power and manage to get lots of goodies for themselves (i.e., all capital gains at 15%)
-That same elite, both individual and corporate, seems to soak up an ever greater share of the pie. Economic growth is not zero sum, of course, but if the growth is distributed in a lopsided manner, that won’t matter to the ever-growing group who is receiving an ever-shrinking slice.
-The costs of simply getting established keep increasing relative to wages. To most people, at least middle class people, I suspect that acquiring a car, education, and home are seen as the foundation of the middle class life. And to be honest, that seems reasonable to me. Not that these things should be granted, of course, but if they keep getting more expensive relative to wages, then they become more difficult to obtain. And if you look at all those items relative to inflation, they have gone up much faster (admittedly housing has taken a beating recently).
-Even as the government came to the rescue of banks (necessarily so, IMO), their efforts to help homeowners have been a joke. The argument that this isn’t the government’s responsibility is a valid one, but “if you help them- with my money- you ought to help me too”
-US businesses are sitting on record piles of cash. And yet, they won’t invest. At a number of companies I know personally, including my own, there have been layoffs only to boost the bottom line, with corresponding increased demands on peoples’ time. True or not, there is a perception that they want to squeeze ever more out of people without compensation. Productivity goes up but wages do not.
-Related to the above, people want jobs. I can guarantee you that these protests would not be occurring if the unemployment rate was substantially lower.
In the end, the movement is about fairness. The world isn’t fair. We know that, and most of us accept it. Life too, is not fair. IT IS NOT govenment’s job to enforce fair. HOWEVER, when you have enough people feeling like they aren’t getting a fair shake: the opportunity to excel at a job, the opportunity to get an education, the opportunities to reach for the reward (nee: middle class life), they will get fed up and start causing trouble. And that can range from a few dirty hippies in the park to full on revolution, depending on how many are how fed up. The 1% might want to recognize that a little concession now could preserve their positions in the long run.
Just my opinions. No cites for opinions.