Tuesday, October 11, 2011

Student Loan Debt Fuels The Occupy Wall Street Movement

At last after three years of watching the oligarchs run amok and throw themselves the biggest baddest bailout bonus bonanza the world has ever seen, the citizens have had enough. Finally, Americans begin to make some fucking noise. On countless occasions I have seen protesters state on camera that "we no longer have any representation by our government as it has been bought and paid for by wall street." This is a very important statement as it shows that some people are beginning to realize that the bullshit left-right paradigm that the powers that be have hidden behind is beginning to crumble. Recent Congressional approval rates have plunged to as low as 9%. This is representative of the terrible job that the congress critters are doing as the American public has tired of the lies, obfuscations and backstabbing that has been perpetuated by the ruling class for far too long.

I believe that one of the sparks that lit the fuse was the student loan crisis which has wreaked havoc across the country will millions of graduates coming out of school with tremendous amounts of debt but with poor job prospects. And the pile of levered grads continues to pile up behind the class before it as schools continue to pump out more graduates with worthless degrees in a horrid job market. Surely many of you have seen the signs at the protests that read "college degree, 50K in debt, no job, no bailout for me." I fully expect this movement to continue to grow as economic fundamentals continue to deteriorate. And lets face it, with more levered grads being pumped out this is simply fuel that will light the revolutionary fire. Unlike some fad this will not go away due to the simple fact that debt levels for grads continue to grow, the job market is frozen and nothing at the top has changed.

One thing that I am closely watching is the response of the machine as these protests are taking place at the heart of the beast. Wall Street is the center of power for the financial system and the fact that the first measurable and popular protests have broken out at the heart of the system shows that the powers that be have been exposed. Whereas before people didn't know what Lehman was, now people are screaming that the federal reserve is a private bankster corporation operating with a government charter. Protesters will be descending on Jamie Dimon's house tomorrow, the CEO of JP Morgue. The Mainstream media wishes to portray Americans as dumb and lazy pussies that simply sit at home watching football and the array of reality TV shows. These protests, especially how they have broken out across the country, indicate otherwise.

Support these protests. This is a beautiful sight to see after so many years of silence. We do have a voice after all. What started on the internet has slowly spilled over into the streets. Expect this movement to grow.

You can see many of the individual profiles of supporters at the link below. Many of them complain of their heavy student loan burdens.


Take care


  1. Excellent post. And yet there's a thread on JDUnderground mocking these protesters (who, it should be noted, have the balls to take their grievances to the street instead of merely whining about it on the internet) as mostly having "worthless degrees." Ah, the irony!

  2. Factor in all the chatter about another massive credit bust looming... if this actually occurs, then Wall Street and its lackeys (aka the US Government) will have a much harder sell for the next bailout, thanks in no small part to the efforts of these protesters.

    This thing is just beginning. Keep up the good work!

  3. All the OWS folks need to do now is vote. If they can vote in enough democrats to take back the house and keep the senate and presidency, then everything will be back where it was for Obama's first two full years. For two full years the democrats had control and chose to do nothing about student loan reform. So if the OWS folks vote them back in, the dems will have another two years. That is the only way that legislation will be passed. We'll see what happens.

  4. ^ this is retarded. Unless the Dems become something radically different than what they have been, voting D (or R) is pointless.

    The socialist party wants forgiveness and (at least most) libertarians want to allow BK discharge. Those are your options.

  5. ^ Agree. Voting D or R is really the same thing--voting for Wall St. If we really want something new, we have to try something new.

    Also, Citizens United should be overturned. Freedom of speech should not apply to corporations.

  6. ^ Agreed. The two-party system is archaic...we need to replace it with a multi-party system. This would be a start...

  7. Wrong, all government is archaic. It's time for us to move beyond the cancer that is government.

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