Ask a man in the street about it and they are likely to blame moolah rather than moo as the cows you derisively describe them as. Moolah. They don't trust the bankers and what they perceive has been done to their moolah. Should they?
The main grievance is corruption. Democracia Real Ya’s manifesto states that, although protesters belong to a diverse array of ideological backgrounds, “we are all concerned and angry about the political, economic, and social outlook which we see around us: corruption among politicians, businessmen, bankers, leaving us helpless, without a voice.” Much of the anger is directed at Spain’s two main political parties: the social-democratic Spanish Socialist Workers’ Party (PSOE in Spanish) which currently controls the government, and the center-right opposition, the People’s Party (Partido Popular). It is felt that citizens’ concerns are not being addressed or even heard by either party, while politicians from across the spectrum are engaging in corrupt behavior at the expense of national wellbeing.
No one can tell today how deep the rot in Barclays runs or how many other “risk managers” at JP Morgan are actually “risk manufacturers.” No one can tell the true condition of the BIGPIS (Belgium, Ireland, Greece, Portugal, Italy, and Spain) banks and no one trusts their books.
Yet there is not a single official in the U.S. or Europe brave enough to take on the bankers and say what needs to be said, namely:
“Boys and girls, the party’s is over. You have one job and one job only — financial intermediation.
Read more at: http://www.forbes.com/sites/kotlikoff/2012/07/07/putting-an-end-to-faith-based-banking/
Corruption stems from that, certainly. When accountability for where money is going to come from and where it is going to go is not held in much regard, you get funny business, to be sure, but if these people in both these countries feel so strongly that they are not getting a fair shake, one must ask them, What would a fair shake look like to you? Are we talking opportunity to build one's life, or the expectation that a gravy train of unknown origin is going to continue?
The young people want to work (and of course their parents want them to). Their joblessness is worse than ours. They want to share their time, treasure and talent with the macroeconomy, I.e., their milk. Moo.......
Ask a man in the street about it and they are likely to blame moolah rather than moo as the cows you derisively describe them as. Moolah. They don't trust the bankers and what they perceive has been done to their moolah. Should they?
ReplyDeleteThe main grievance is corruption. Democracia Real Ya’s manifesto states that, although protesters belong to a diverse array of ideological backgrounds, “we are all concerned and angry about the political, economic, and social outlook which we see around us: corruption among politicians, businessmen, bankers, leaving us helpless, without a voice.” Much of the anger is directed at Spain’s two main political parties: the social-democratic Spanish Socialist Workers’ Party (PSOE in Spanish) which currently controls the government, and the center-right opposition, the People’s Party (Partido Popular). It is felt that citizens’ concerns are not being addressed or even heard by either party, while politicians from across the spectrum are engaging in corrupt behavior at the expense of national wellbeing.
ReplyDeleteNo one can tell today how deep the rot in Barclays runs or how many other “risk managers” at JP Morgan are actually “risk manufacturers.” No one can tell the true condition of the BIGPIS (Belgium, Ireland, Greece, Portugal, Italy, and Spain) banks and no one trusts their books.
ReplyDeleteYet there is not a single official in the U.S. or Europe brave enough to take on the bankers and say what needs to be said, namely:
“Boys and girls, the party’s is over. You have one job and one job only — financial intermediation.
Read more at: http://www.forbes.com/sites/kotlikoff/2012/07/07/putting-an-end-to-faith-based-banking/
These governments, like our own, are hopelessly in debt. That is the primary problem.
ReplyDeleteCorruption stems from that, certainly. When accountability for where money is going to come from and where it is going to go is not held in much regard, you get funny business, to be sure, but if these people in both these countries feel so strongly that they are not getting a fair shake, one must ask them, What would a fair shake look like to you? Are we talking opportunity to build one's life, or the expectation that a gravy train of unknown origin is going to continue?
ReplyDeleteThe young people want to work (and of course their parents want them to). Their joblessness is worse than ours. They want to share their time, treasure and talent with the macroeconomy, I.e., their milk. Moo.......
ReplyDelete