Sunday, September 18, 2011

Day Of Rage Ignites In America

The Arab Spring's Day of Rage phenomenon has arrived in the United States.  A few hundred professional activists and unemployed do-gooders tried to occupy Wall Street on a day when no one's in business.  That shows how unserious they are at this stage.  Future protests will be more aggressive as economic conditions worsen. 

The ruling elite has begun to acknowledge that things are getting worse.  NYC's Mayor Bloomberg warns that unemployed college graduates are a paycheck away from becoming anarchists.  The country club set needs to get nervous after hearing this from one of their own.  Youth unemployment, income stagnation, and lack of upward mobility were necessary conditions for the Arab Spring but were not sufficient conditions.  The black swan of the Federal Reserve's dollar debasement drove investor capital into metals and commodity foodstuffs.  That was sufficient to spark the kindling for revolution. 

The Day of Rage phenomenon is a form of class warfare, pitting economically marginalized workers against members of favored sectors.  Wall Street is the most visible target but it will not be the last.  Union-controlled automakers backed by government favoritism hand out juicy bonuses while making uncompetitive products.  GM was not alone in getting a deal from Uncle Sam.  Solyndra's bankruptcy reveals that a politically-connected investor moved ahead of other creditors.  The Administration's investments in favored renewable energy companies are looking more and more like slush fund payoffs for campaign donors.  This kind of cronyism was the rallying cry of protesters in Tunisia, Egypt, and Bahrain. 

If the protesters are true to their public statements against cronyism, they'd enlarge their target set to include companies backed by government favoritism.  Omitting blue-collar beneficiaries would be an indicator that the protesters are instigated by the professional Left against the visible symbols of the American ruling elite.

It is interesting to note that the original "Days of Rage" were a Weatherman/SDS revolutionary action in 1960s America.  I don't think it is a coincidence that Arab Spring insurgent leaders branded their uprisings with this moniker after American left-wing organizers visited MENA countries.  Some memes retain their power to motivate action even after a generation.  Activist presence in MENA and on Wall Street begs the question of ultimate funding and strategic direction.  Ask yourself who would benefit most from the downfall of U.S.-friendly monarchies and the U.S. financial system.  Then ask yourself why well-meaning American activists - and their ideological sympathizers in government who are unskilled at performing link analysis - allow themselves to be used in this manner.