Discuss: The Reign of the One Percenters

You would have been spot on two weeks ago. #OccupyWallStreet has changed everything.

I am so depressed and feel beyond helpless - outnumbered, out -philosophized, outflanked. Barely hanging on and powerless.

Excellent writing by someone who is a historian of culture NYC and quite the wordsmith. Impressive knowledge of the 1% and their sociopathic affects on the rest of us. The information and insight provide the context for developing a sustainable movement.

Well said, Chris. The Amster-damning of NYC has been apparent for some time.

An insightful article.  I have been in and out of NYC since 1970 and have seen many changes, none of them for the better.  I had to leave 3 neighborhoods—two in Brooklyn, one in Harlem—because of the influx of the one percenters.  After the third round and tired of working 7 days per week just to make ends meet, I had enough.  I moved back to my original home town.  I visited NYC recently and went to see a few things with friends.  It was while I was walking through Chelsea Market that I realized that I was indeed walking through a Disney-like city, not a real one.  It left me with such a sad feeling.  I miss my city.

Very timely article. I’ve been sensing much of it but have not had the historical perspective or statistics. 

Could the author, or someone here, do a more basic explanation of how the One Percenter’s wealth actually increases from the financial manipulations? 

Most of us are not invested in Wall Street and as the article says, most people’s incomes have been going down.  Where does all the money come from and exactly how does it get transferred to the One Percenters?

I’d like to be more knowledgeable about this and articulate as well.

Thanks!

That was an excellent anecdote regarding Anthony - I hope he is still hale and hearty.

It has been calculated that if financial transactions had been taxed at 1% for the year of 2010 alone, the amount accrued would have exceeded thirty-seven quadrillion dollars.

Now, just imagine if the profits were shared as equally as the losses. The problem here is utter and abject greed; instant gratification is the current meme.

Understand this, One Percenters - you haven’t any status more exalted than the homeless persons you step over on the way to your daily coke binges. Your bonuses are undeserved. You haven’t done a bloody thing to earn them; you add nothing to our fair city, and no one but your coke dealers and your call girls will miss you when you’re gone.

This more data-heavy perspective on the 1 per cent should be of interest   to anyone who read this article:
An Investment Manager’s View on the Top 1%
http://sociology.ucsc.edu/whorulesamerica/power/investment_manager.html