Economy & Budget

What happens with the Occupy Wall Street (OWS) protests and their counterparts in cities all over the U.S. now that the protesters have been cleared out, their message communicated loud and clear? Observers have declared that the so-called "movement" is actually free-flowing and structureless, and not a movement at all. They are not organized to become a movement.

But it would cheapen what those protesters did at significant personal costs to allow their points to dissipate. How to deal with the validity of their points and the inherent nature of the protesters not to organize? More protests are planned.

Part I

We live in an age of global protest, global unrest and global demands for change in a world where the vast majority of men and women believe they are being hurt and cheated by forces of selfishness and greed in politics and finance. In the current campaign Ron Paul is one voice for a certain segment of this global demand for change. Politics in America and around the world is a contest to decide who will give voice and power to this movement and demand for change.

Obama campaigned for change but did not deliver it, which is the major reason his poll numbers are very far down. Mitt Romney, distrusted by 70 percent of his own party, embodies the layoff-oriented Wall Street economics and shape-shifting opportunism of a politics without conscience. Which is why Democrats will never support him and a majority of his own party desperately wants someone other than him.

The guiding principles of the nation have been eroded by the quick-fix microwave generation.

We have been amazed by the dreams of many, which leave us unconcerned with reality.

Many individuals who point out the dangers of wishful planning, with no experience of proper execution, are deemed cynics. Current economic times demand a realistic view of the world.

No one can afford to waste time on pipe dreams in exchange for pragmatic solutions. The ideas currently circulating in our country are about as worthless as the Fed-controlled currency that is in rotation.

The Euro debt crisis began to spiral out of control when Prime Minister George Papandreou — called a “prince” by Reuters — failed to meet expectations. Papandreou was the third generation of his family to serve in that office. This is connected to the temperament of  Greece. The desire to want the same family to run for office again and again is in Jungian terms a "feeling" one. This is good for the Greeks, in my opinion, provided that they stay out of the EU, which is in the same Jung vein a "thinking" operation; a "greater Germany," if you will, as Germany is in these terms a thinking, objectivist place and center of the economic matrix.

And so is the U.S., but the sensibility here to default to governance by family members — princes; Bushes, Kennedys and Clintons in particular — in high office shows decline in our case as it presents a shift in sensibilities from the thinking function on which we were founded to a degenerative emotional realm, one not native to American karma. One bad for a new people; one suited to the ancient regime. It is in a word a decline to monarchist instincts, or better, a desire, given the size of our country, for an emperor to relieve ourselves of the anguish and transcendence of self-governance.

In one of the most under-reported stories today, it is now revealed that the Federal Reserve Board pumped a "secret bailout" fund of perhaps $7 trillion into major banks that had not previously been disclosed. Check out the excellent story in The Hill by Vicki Needham about this. I am thrilled that Democrats have already begun calling for hearings. This could be a golden moment for Rep. Ron Paul (R-Texas) to hold hearings of the subcommittee he chairs.

What's going on in Europe is scaring the living daylights out of me. The Germans cannot sell German government bonds to the bond market. They only sold about 40 percent of their sovereign bonds last week.

This is the strongest country in Europe, and they can't sell their euro bonds? That is proof positive that investors have zero confidence in the euro. They have confidence in Germany, but not the euro. If Germany sells euro bonds and the euro market breaks up. German euro bonds will convert to Deutsche Mark bonds and no one knows how they will be priced. Italy is a story unto itself; it has gone so far down the wrong path that, in an auction on Friday, it had to pay investors 6.5 percent on six-month bonds. 

A.B. Stoddard is joined by Pundits Blog writers John Feehery and Peter Fenn to discuss the failure of the congressional supercommittee, entitlement reforms and Newt Gingrich’s rise in presidential polls.

Don't miss the excellent wrap-up piece by Bob Cusack in The Hill about who won and who lost in the supercommittee superfiasco. Today I focus on the mother of all winners, the person the sexist Herman Cain called "princess," who struck the mother lode of being a huge winner in this deal: Nancy Pelosi and House Democrats. House Democrats were given another great gift this week when Newt Gingrich launched another attack on Social Security by reviving that tired GOP dog of private accounts.

Remember, Democrats won a major midterm election in a historically Republican district over the issue of Medicare. Since then, the Republicans have proposed even greater attacks on Medicare, in effect suggesting Medicare be turned into a subsidy for insurance companies. Of course, the collapsed Rick Perry once called Social Security a Ponzi scheme.

1. Is it time for the people in the parks around the country to go home?

YES. Their First Amendment point has been made crystal clear and nationally; and an important one it was. Now municipal officials are right to clean things up, get traffic moving, and get us back to business. Avoid overreaction by police; but get folks home, for now.

NOT back to business as usual, however, or their important point will have been missed. Observers, even their admirers, are right to ask:

2. What now? What will be the result of their efforts? Is there a goal? Fair question; and I have a suggestion.

Unfunded Medicare liability is $90 trillion.

Unfunded Social Security is $20 trillion.

How can any of us comprehend the kind of debt that this country has? I thought $15 trillion in debt was a lot; this is absolute nonsense.

What do we fund these liabilities with when the money becomes worthless?