Saturday, October 29, 2011

Occupy DC encampment soaked by Noreaster today; CNN puts on Trump, Schiff, West, Michael Moore to argue about capitalism

I stopped by the Occupy DC encampment at McPherson Square this morning, on the way back from AIDSWalk 25. 

The sights speak for themselves.  People had hung out clothes and garments – to soak.  There did not appear, from what I saw, to be another camp at Lafayette Park; but there was a small camp leftover at Freedom Plaza for the AIDSWalk. 

There has been quite a bit of economic debate on CNN this week. Michael Moore appeared on Piers Morgan and had to answer whether he practices what he preaches – he admits that he is in the top 1%.  (Most leaders of the radical Left are, it seems.)  He defended capitalism slightly to Piers, but then on Anderson Cooper the next night said that capitalism was no longer a morally appropriate system; it was up to the people to design another one. 

I can recall back in the early 1970s, the Peoples Party of New Jersey (Dr. Spock's radical group) would argue, "why do we have to have capitalism?"  They were ready to expropriate -- even from middle class professionals (like me?)  

Morgan has also interviewed Donald Trump,  who said it really could have been “that bad” without a bailout, and that banks don’t lend now because they’re afraid of regulators spying on them.

Anderson Cooper has also featured a debate between Peter Schiff and Cornell West, and presented a confrontation in NY between Schiff and the Occupy Wall Street demonstrators:


So, is “too much government regulation” a root cause of the employment crisis? 

It seems to me that if the government bailed out the banks, government (the Obama administration) ought to “require” them to lend more rather than sit on cash.

The idea that raising any taxes on the rich at all will stifle jobs sounds like a canard.  But it’s true, you have to be careful on deciding who’s rich.  Raise taxes on a small business owner or family farm, you drive him or her to sell out to big business.  The GOP has a bit of a point there.

The McPherson Square Metro stop, at street level, was filled with homeless people camped out.

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