ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Wall Street - No Longer Unchallenged

The “Occupy” movements challenge the power of the “too big to fail” financial oligarchy.

Reflecting the growing indignation of ordinary people over authorities, appear sharply delineated inequality, declining standards of living and high levels of unemployment and underemployment,the OWS the Occupy Wall Street (OWS) protest clocked a month since it all movement seems to have won the right to remain in began on 17 September. And, it has been growing: 700 persons were arrested on Brooklyn Bridge on 1 October. I; 20,000 people marched into New York City’s Times Square on 15 October.The authorities, led by billionaire mayor Michael Bloomberg, appear to have been forced into a tactical retreat – at least for now – in the face of the increasing number of demonstrators.The OWS movement seems to have won the right to remain in Liberty Plaza. It calls itself a “leaderless resistance movement with people of many colours, genders and political persuasions” and goes on to say that the “one thing we all have incommon is that We are the 99%’ that will no longer tolerate the greed and corruption of the 1%”

“We are the 99%” is catching on, for it is inclusive – it embraces those who have been thrown out of their homes, those who have to worry about how to pay the rent and meet grocery bills, the many who have no access to quality medical care, the overwhelming proportion of working people who work long hours on low wages and have no rights as workers, the university graduates carrying the burden of huge loans and working on inadequate wages, and the many who just cannot find work or enough of it to make ends meet. OWS-inspired sit-ins have since made the news across the US. And beyond: In Italy, Spain, Portugal and Greece “We are the 99%” placards have appeared in the ongoing demonstrations against savage fiscal austerity. In London, the “Occupy London Stock Exchange” protest demonstrators encamped in a square outside St Paul’s Cathedral; in Frankfurt, outside the ECB; in the Netherlands, outside the Amsterdam Stock Exchange; and in a whole lot of other cities across the world. What are all these people fighting for?

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