The Occupy Wall Street demonstrations are continuing to expand. Soon, there will be demonstrations in front of every house, apartment and business in America. If the unions and the progressives can afford to feed, lubricate (with drink) and pay these people, then the unions and the progressives should be starting businesses that would offer long term employment rather than short-term situations. It seems to Arnold that this entire “political movement” is an attempt at forcing further income and asset redistribution. Many of the “protesters” favor a $20 per hour minimum wage. But unfortunately, that would have the effect of further reducing employment (causing more unemployment) and significantly increasing prices, especially in fast food or other labor intensive jobs.
What is going to happen to the Occupy Wall Street movement when they realize those evil one percent are their largest supporters: George Soros, Michael Moore, Susan Sarandon, Russell Simmons, Nancy Pelosi, Barack Obama, Yoko Ono, Rosanne Barr, Deepak Chopra, Kanye West, Alec Baldwin and Tim Robbins? All of these people are within the top one-half of one percent. Why don’t they create jobs as they are demanding of the others of the 1%? Why don’t they just hand over all of their money?
Let’s talk about this concept of income and asset redistribution. If Arnold understands the Occupy Wall Street and income/asset redistributors, then in order for the United States to be a level playing field, the rich (defined as anyone who has more than someone else) must give to the less rich. Fine. Arnold does not personally agree with this concept, but let us continue discussing this concept anyway. So, the major believers in this concept: Nancy Pelosi, President Barack Obama, most every media talking head, the Hollywood “talent”, and all of the other believers; why haven’t they just given their wealth and income to all those less fortunate than themselves? Each and every one of them have no problem taking from the rich – and in almost every case, they are referring to themselves – yet somehow when they say rich they mean everyone else but themselves. These people attack capitalism, yet without capitalism, the media giants and the Hollywood “talent”, would be earning no more than the median income in the United States; yet they are openly anti-capitalism. Why?
According to new polling at least three of the Republican contenders for President can keep their names (Cain, Perry and Romney), because they beat President Obama in polling – but the rest of the group might still want to consider a name change to “Generic Republican.”
- The DJIA continues to look weaker short term, then stronger into year end.
- Gold looks to have peaked under $2000 the ounce and should experience a precipitous decline next year.
- Oil has risen again above $80 a barrel and is back in the trading range of $80 to $90. We will need to see a rise above $90 or a fall below $80 for direction.
- The dollar is holding and rising.
- Interest rates have risen a bit and rates should start to rise by year end.
- Real estate pricing is still weak.
- The economy continues to look weak as well.
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