Occupy Chicago, a Large Mistake? By The Ram

By The Ram
POSTED: 03 Oct 2011 05:00
CATEGORY: Current Events
FEATURED: Yes (JABINATOR)
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Political Blog means Rahm Emanuel Savii...

So, I doubt most of you know, and I only just found out the name recently, but there is a thing called "Occupy Chicago" going on for the past week or so. A brief explanation of what I know;

Occupy Chicago appears to be a protest against "Corporate Fat-Cats", outside of the Chicago Board of Trade Building, hereby called CBOT. It has been going on for roughly a week, with people rallying outside on the corners of LaSalle & Jackson across from the CBOT.

Now, my Mom & I were walking by the rally Saturday, and I mentioned how a bank is essentially a "Ponzi Scheme". How? I remember learning in an Economics class, that a bank doesn't have everyone's cash there 24/7. It is lent out to other people and banks, and in short, allowing it to grow. All banks much reach a minimum balance at the end of the day, even if it means borrowing from another bank.

Now, we were talking, and I regret saying this, but I suggested that a 'mass withdrawal' would force the banks to scramble and borrow from others, and that once that is no longer doable, be harrased for people's money. It seemed like a decent idea. I didn't intend for her to take me seriously, but it seems she likes the concept. She asked about it being national or local[Chicagoland], and I said it would have to be national, since a bank can borrow from more than their neighbors. I remember mentioning the Federal Reserve, but I forget what I said.

Essentially, I regret the mentioning of it. Furthermore, I don't think that I, a Liberal, even fully agree with the Occupy Chicago movement. I have mixed feelings about it, and they're not what you would expect from me.

I guess that's the news? I would certainly like to hear from some of the older members, or anyone who at least has a strong grasp on Economics. Good day, please discuss in the comments below. What's your opinion on the Occupy Chicago movement? Is it justifiable?

+3 -2

Star Shadow
28 Oct 2011 18:21

Occupy in Oakland is happening too. My cousin lives there and he told me they want to get rid of the mayor.

HullBreach
06 Oct 2011 12:09

The protests are largely misguided because nothing can be done until politicians with backbones and honor come to power and put a stop to the corruption. On the conservative and libertarian sides, the TEA Party was meant to help here. It started as a grassroots effort but has been usurped by corrupt individuals. No one on the progressive or socialist sides have started legitimate grassroots movements in this manner. There have been several events held, but the irony is that they were all sponsored by politicians and Fat Cats, so it is obvious that nothing was accomplished.

HullBreach
06 Oct 2011 12:04

The problem with these so-called "fat cats" is that they donate roughly equally to both major political parties, knowing that whichever one comes to power will provide a kick-back in the form of tax loopholes, subsidies, bail-outs, low-interest loans, and business deals. The corruption runs beyond just banks. Just look at Jeffrey Immelt of General Electric. He sits on the economic advisory board of the president, while GE paid absolutely no taxes last year for $13B in profits! Then take a look at Andy Stern of the Services Employee International Union. He was the most frequent visitor to the White House in 2009 and pushed for the stimulus bill, which was a union-only payout. Then comes Van Jones of the Apollo Alliance. His presidential schmoozing allowed his group to actually write the ObamaCare bill and submit it to Congress, where is passed largely unchanged. The point is: The Fat Cats will follow whomever is in power. (i.e. Bush had Halliburton.)

Panzer123
06 Oct 2011 03:41

Why are we toying with the banks when the economy is in a recession? Consumer Confidence is important.

Neongirlx
05 Oct 2011 01:22

I thought this said "large milkshake" at first.

Star Shadow
03 Oct 2011 23:30

The banks are evil. They're foreclosing is bad enough but taking every last dime? Isn't that too much? Shouldn't it be illegal enough with usury?

The Ram
03 Oct 2011 23:29

Quoth charizardman283:

Politics, the economy, Casey Anthony. All you hear about these days.

It's what's going on.

What I don't understand, is how Casey Anthony took over Drew Peterson's place as a wretched human being. Honestly.

charizardman283
03 Oct 2011 23:25

Politics, the economy, Casey Anthony. All you hear about these days.

DragonSlayer9
03 Oct 2011 21:51

Quoth Winter Icefox:

Quoth DragonSlayer9:Quoth Winter Icefox:FAST FEATURING IS FAST.

What.
What.
What did you did there ram.
I didnt get it..
Cause i have never had time to check up economy and how it works.
Just look at my idea of how to fix economic crisis

"Just print more money, and you will be fine, goverment"

See? makes no sense, im not good at this area XD

Lol, you know if you print money, it costs money?

Yeah, for the paper and ink materials, right?...

Lol yep.

The Ram
03 Oct 2011 19:20

Quoth Winter Icefox:

Quoth DragonSlayer9quote]Quoth Winter Icefox:FAST FEATURING IS FAST.
 
 What.
 What.
 What did you did there ram.
 I didnt get it..
 Cause i have never had time to check up economy and how it works.
 Just look at my idea of how to fix economic crisis
 
 "Just print more money, and you will be fine, goverment"
 
 See? makes no sense, im not good at this area XD
 
 Lol, you know if you print money, it costs money?

Yeah, for the paper and ink materials, right?...[/quote]

I believe the power costs too, yes... I forget, even though I took a long tour of the Federal Reserve of Chicago with said Econ. Class. And the more money you print, the less it's worth...

Winter Icefox
03 Oct 2011 19:09

Quoth DragonSlayer9:

Quoth Winter Icefox:FAST FEATURING IS FAST.

What.
What.
What did you did there ram.
I didnt get it..
Cause i have never had time to check up economy and how it works.
Just look at my idea of how to fix economic crisis

"Just print more money, and you will be fine, goverment"

See? makes no sense, im not good at this area XD

Lol, you know if you print money, it costs money?

Yeah, for the paper and ink materials, right?...

The Ram
03 Oct 2011 17:55

Quoth AceSpadeS:

The "Occupy" movement isn't limited to Chicago. Some 700 people were arested in New York City for obstructing the Brooklyn Bridge as part of the Occupy Wall Street movement, and I believe similar occurences took place in oter national centers as well.

I've heard about the Occupy Wall Street movement, we were discussing that the other day.

DragonSlayer9
03 Oct 2011 13:29

Quoth Winter Icefox:

FAST FEATURING IS FAST.

What.
What.
What did you did there ram.
I didnt get it..
Cause i have never had time to check up economy and how it works.
Just look at my idea of how to fix economic crisis

"Just print more money, and you will be fine, goverment"

See? makes no sense, im not good at this area XD

Lol, you know if you print money, it costs money?

Nope.avi
03 Oct 2011 11:54

Most of what I said applies to the banks in an "occupy" situation nonetheless. And Ass is right, this has been going on all over the country.

The Ram
03 Oct 2011 05:54

Quoth Nope.avi:

Mostly, people are fed up with the "fat cats" dodging taxes and basically being absolute scumbags. They'll do anything to make a buck, and when I say dodge out on taxes, I really mean it. They'll go through every possible loophole so they end up paying a lot less than they should.
It also boils down to prices, monopolies, and hundreds of other things that people can find a reason to riot for. But that's a big one, really. As for the banks, that's a completely different subject that has all of its own arguments to debate with.

One thing I omitted from the Blog for space purposes, is that this movement is aimed at Banks, the Stock Market, and the like.

On LaSalle St. & Jackson Ave., you have 3 things.

One, the CBOT, at the South end of LaSalle.

Two, the [b]Bank of America Building[/v]on the NorthEastern corner of LaSalle/Jackson.

Three, the Federal Reserve of Chicago, on the NorthWest corner of LaSalle/Jackson.

People are standing outside of Two & Three, and aiming at all three, but mostly the CBOT. Hence why the banks are included...

Winter Icefox
03 Oct 2011 05:45

-reads again-
nope is right, the bank thing is a whole different thing...
Title should be "occupy chicago and banks, a large mistake?"

The Ram
03 Oct 2011 05:32

Oh, I see.

Well, I'd recommend just watchng the comments then, I'm looking forward to them...

Winter Icefox
03 Oct 2011 05:31

I mean, the blog, darn, i dont get a word.

Economy is not my area.

The Ram
03 Oct 2011 05:29

What do you mean 'what did you do there Ram"? o3o I wasn't a part of the protests.

Very, fastest ever Feature, usually Jab takes a day.[He once took 4. -.-]

Winter Icefox
03 Oct 2011 05:28

FAST FEATURING IS FAST.

What.
What.
What did you did there ram.
I didnt get it..
Cause i have never had time to check up economy and how it works.
Just look at my idea of how to fix economic crisis

"Just print more money, and you will be fine, goverment"

See? makes no sense, im not good at this area XD

Nope.avi
03 Oct 2011 05:17

Mostly, people are fed up with the "fat cats" dodging taxes and basically being absolute scumbags. They'll do anything to make a buck, and when I say dodge out on taxes, I really mean it. They'll go through every possible loophole so they end up paying a lot less than they should.
It also boils down to prices, monopolies, and hundreds of other things that people can find a reason to riot for. But that's a big one, really. As for the banks, that's a completely different subject that has all of its own arguments to debate with.

Occupy Chicago, a Large Mistake?

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