My view on all things finance

Where is our money going?

The message behind „Occupy Wallstreet“

„Occupy Wall Street“ is something that has to be considered seriously. I can’t recall a protest in the US history which is similar to this one. However, it has some serious problems. Since the protest wave expanded from town to another town we still can not see a clear message from the people behind „Occupy Wall Street“. At least the ordinary people can’t see it.

Of course, I believe such message must be clear for everyone who suffer from the economic problems and these are the people from middle class, because the rich people simply became richer in the last two years. The problem is that nobody in Washington is listening.

At this point the message is this: income inequality increases the number of the poor and threatens to create a permanent class of people that are able and willing to work but are unemployed. To some extent the protestors, most of whom are young people, are the voice of a generation that lost its opportunities.

Last year, unemployment among American college graduates under 25 was an average of 9.6%. Among high school graduates the unemployed are 21.6%. This data do not take into account graduates who work but at low paid jobs that do not even require a diploma. Such pathetic perspective especially in the early years of one’s career promises a life with increasingly fewer opportunities and lower incomes. This is the basic definition of descent down the social ladder.

But these protests are more than just a rebellion of the young people. The personal problems of the protestors are just one of the example that the economy does not work for most Americans.