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Occupy Wall Streeters Need to Understand the Ideas of Personal Responsibility, Freedom of Contract and Private Property

The Occupy Wall Street protests have been consisting of a diverse group of people, from the unions and anti-capitalist left to the anti-Fed activists to the Tea Partiers on the right. However, as Alex Newman notes at The New American, the Soros-Marxists-revolutionary-wannabes have been attempting to co-opt the protests, with the purpose of taking down whatever is left of free markets and private property in America. As seen in this video of the Occupy DC protest by Adam Kokesh, many protesters on the left don’t really know what the real causes of the financial crisis are, and some still want to reelect corporatist (and warmonger) Obama.

Anthony Gregory at the Mises Institute points out that the ruling elite benefit from all this because most of the protesters lack any true message of liberty — which includes the advocacy for free markets, private property and freedom of contract. And on the End of the American Dream Blog, the writer points out the 11 reasons why Occupy Wall Street protesters are hypocrites if they do not call for Barack Obama to resign.

And Alex Jones has called for Occupying Federal Reserve branches throughout the USA. That is because the main economic problems and crises in America are caused by the Fed’s money-printing that devalues the dollar and causes price inflation and unemployment.

While Washington’s Blog claims that there really is not a list of official demands from Occupy Wall Street, the Occupy Wall Street movement apparently does give an informal list of demands, showing an utter lack of knowledge and understanding of economics and economic history. Among the demands are raising the minimum wage to $20/hour. In actuality, when you raise the minimum wage, you cause employers who can’t afford a wage hike to cut jobs, and that harms entry-level youths the most, and explains the higher unemployment numbers for teenagers, and others just entering the job market, as Jacob Hornberger has pointed out, as have Walter Williams, Thomas Sowell, and, yes, that old right-wing nutso, Murray Rothbard.

Here’s a just-plain-crazy demand from the Occupy Wall Street blog: “Guaranteed living wage income regardless of employment.” (No comment necessary here — it speaks for itself.)

Demand number 11 is the one to please the infantile crib-wetters of the left:

Immediate across the board debt forgiveness for all. Debt forgiveness of sovereign debt, commercial loans, home mortgages, home equity loans, credit card debt, student loans and personal loans now!…

The message is to just be irresponsible, sign on to loans you know you can’t afford to pay back, “buy” homes you know you can’t afford, spend like drunken sailors with credit cards and don’t expect to ever actually pay the bills (i.e. imitate Congress). And, when you get in trouble, expect your neighbors and Big Mommy and Daddy Government to bail you out.

No, what we need is to go the other way: no bailouts for anyone. Banks need to be made to take responsibility for the consequences of their risky lending and investment practices, and if that means going bankrupt, so be it. If anyone commits fraud (which all banks already currently do with a Fractional Reserve Banking system in place), they need to be prosecuted and thrown in jail. People who are prospective customers for particular banks need to take the responsibility by looking into the long term, as far as investigating the reputation and history of their prospective bank into which to deposit their money. If a bank has been shown to engage in irresponsible practices, then don’t deposit your money there. (See here.)

Students and their parents need to think ahead into the future. Some kids are not made for college, and parents of those kids need to just acknowledge that, and encourage those kids to discover a skill or trade that they can do to support themselves after high school. If you are a teenager, having a part-time job now gives you a head start in finding full-time work after high school.

If the youngin appears to be college bound, then he or she needs to be encouraged during high school to work part-time and save money to help parents put him or her through college. Don’t rely on the government for student loans. The whole government-college-complex is a fraud and a rip-off scheme. It is NOT worth starting your young adult life already being in debt, especially to the government! (Look what happened to some people when the Dept. of Education sicked the SWAT team marauders on people!)

In our infantilized, immediate gratification society, people have been spending money they don’t have on things they don’t need. Stop doing that. People are thinking in the short-term but don’t look down the road to the consequences of their own irresponsibility, and they want to be coddled and force their neighbors through government redistribution schemes to take care of them when they make mistakes and foolish decisions. Stop doing that. Parents, you need to be more responsible with your kids. Encourage them to be independent. Going into debt throws people into states of dependence.

And the Occupy Wall Street crowd needs to learn economics, and understand that when you demand for more government confiscation of private wealth and capital, more guilty-until-proven-innocent regulations of private businesses, trade and commerce, you are calling for a greater police state, and that’s the bottom line for me. Occupy Wall Streeters need to demand that the government require banks to take responsibility for the consequences of their reckless lending and investment practices, and jail the fraudsters.

Further Reading:

http://www.thefreemanonline.org/anything-peaceful/wall-street-couldnt-have-done-it-alone/

http://mises.org/page/1470/Human_Action_HTML

http://mises.org/resources.aspx?Id=73a08308-9978-4cb7-a7de-26a2b5a5524d

http://mises.org/daily/3995

http://www.thedailybell.com/3015/Anthony-Wile-Blaming-Wall-Street-Is-Wrong

http://www.lewrockwell.com/rothbard/rothbard183.html

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