logo

Where Is The Outrage?
By: Edward Harrison   Tuesday, February 03, 2009 4:54 PM

Vote for next session
The next market session will close:

This is essentially the  question that Tim Iacono asks on his site in the post “Why aren’t Americans rioting?” based on an article from the leftist site Alternet.  I have wondered the same.

Here you have the financial services sector being bailed out left and right.  Large automakers are lining up for handouts.  The steel industry has successfully inserted itself into the stimulus package by appealing to economic nationalism and “Buy America.”  Meanwhile, ordinary Americans lose their jobs, their homes, and their retirement investment.

There is a deep sense of apathy in the United States regarding this massive economic implosion that remains stunning.

Just yesterday, a reader sent me the following list of civil unrest due to the credit crisis and Depression.  The United States is nowhere on the list (hat tip Scott).  Apparently, Americans are a civilized lot.  The Tom Daschle affair may be a watershed in terms of the ‘populist revolt’ in America.

Here are some details of protests and developments as a result of the global financial crisis: 

* BRITAIN: 

– A decision by France’s Total to bring Italian and Portuguese workers to build a unit at the Lindsey oil refinery has triggered a week of protests by thousands of energy workers. 

– Hundreds of contractors at the refinery walked out again on Tuesday and 600 contractors at a plant owned by ConocoPhillips on the east coast also downed tools.


Next Page >>123

(1)
 
2/3/2009 10:19:02 PM
Americans are Complacent by Mr. Smith
In the recent history of the United States blacks have been the most apt to stir social unrest and rioting.  We just elected a half black president so hope and complacency is the theme.  Rest assured that once the extent of the problems here sink in we will have our fair share of civil disorder and rioting.  I'd bet money that it starts in California.  Once prison looks less bad than peoples daily lives, they won't have a choice and they won't have anything to lose.  We have mass suicides now but I'd guess that the suicides will start to change over to homicides when people stop blaming themselves and they see that they have been victimized.
Rating: (0) (0)
Post Comment
Name:  
Alert for new comments:
Your email:
Your Website:
Title:
Comments:
   
 
 
 
 
   
 

The above story is the opinion of the author only and it does not reflect iStockAnalyst opinion. Further, the author is not personally advising you regarding the suitability of the story for your investment needs. In no event iStockAnalyst will be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from or arising out of, or in connection with the use of this information. Please consult your investment advisor before making any investment decision.
  
Advertisement
Popular Articles
Related Press Releases
Advertisement
Partner Center
Recent Articles by Edward Harrison



Subscribe to Email Alerts rss feed or RSS feeds rss feed for articles from more than 500 contributors, press releases, SEC filings and full text news from more than four thousand sources.
Fundamental data is provided by Zacks Investment Research, market data is provided by AlphaTrade. , and Commentary and Press Releases provided by Quotemedia