Comments on: The Prospect of Protests: Is There A Global Movement Of The Middle Class?

By: Randy Dutton

Randy Dutton — Mon, 16 Mar 2009 19:39:25 +0000

Tea Parties represent anger over irresponsible government. Government officials, elected and appointed, garner power by promoting a giveaway system of perks, while burdening those who create wealth. Power the political class is more important that integrity or ethics. Added to the angst is what I call the Illiterati – those who blindly follow orders from political masters and don’t take, or demand, the time to read and understand bills.

By: Doug Poretz

Doug Poretz — Mon, 16 Mar 2009 14:09:32 +0000

US Pessimism is receding and investor confidence may be up in quantitative terms, but it is only temporary. The middle/working class is very fragile — I would like you to dispute the reality of the protests happening around the world — i would love to be proven wrong about what is happening but I am afraid that will be too difficult to do. The trend is only starting to emerge in the US — but the dilemma is already rising — for example, see this article in today’s NY Times: “Bracing for a Bailout Backlash” — http://tinyurl.com/csv3ck

Perhaps confidence might be able to recover given no further perturbation — but if this economic crisis morphs into a social/cultural/political crisis as appears to be the case worldwide, I think the confidence level will head south very quickly.

By: The Good News Economist

The Good News Economist — Mon, 16 Mar 2009 13:56:28 +0000

Doug,

Bull! (Your word, not mine) US Pessimism is Receding and Investor Confidence is Up…

While protests may occur, sentiment in the US is markedly on
the mend. The general public is now fed up with
gloom and doom and the “death of time”…

GNE

By: Gary Shapiro

Gary Shapiro — Sat, 14 Mar 2009 17:52:34 +0000

Thanks Doug,

Provacative and fascinating.

I would distinguish the worker protests around the world from the US tea party protests cropping up in the United States. The majority of Americans who pay their mortgages and taxes, even if they voted for Obama, are increasingly concerned that their government is bailing out car companies, banks and their neighbors who bought a house they can’t afford. The silent majority may raise up – but it will be to stop a government who cannot stop deficit spending. See my speech yesterday. http://www.ce.org.