The Media and How They Are Treating the Wall Street Protests

[Obama 2012 1,714]

It is interesting how the media has mostly ignored the protests... Also odd how the AP would post that they don't know what people want... It's kind of obvious what people want and they should know that after the past few years of bailout after bailout....

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http://stompmud.com/2011/10/occupy-wall-street-the-media-is-clueless/

Often times it is expected for the mainstream media to be incompetent in its reporting on certain issues. It’s especially obvious in the disconnect between what’s going on on Wall Street with the media questioning what the protesters are seeking. Or is it?

The Associated Press released a short and sweet article today on the ‘Occupy Wall Street’ protests that simply stated:

A collection of protesters in tie-dyed T-shirts and star-spangled underwear have been camping out in a granite plaza in New York City for more than a week — and show no signs of going away.

It all has the feel of a classic street protest with one exception: It’s unclear exactly what the demonstrators want.

But longtime activists say the vague purpose of the movement may actually be better in the long run because it provides a platform for people to express any concerns they have.

The protesters in lower Manhattan number in the hundreds.

No one should be surprised that the media would make such a statement in regards to the protests. After all, the corporate media is beholden to their own Wall Street investors and the rest of corporate America as well. It’s a real shame though that they would make a statement such as; ‘it’s unclear what the demonstrators want,’ when it’s been painfully clear for quite awhile now what American citizens are upset with in regards to Wall Street.

Average Americans are tired of seeing their quality of life go down, while the Wall Street types see their lives unchanged or by gaining even more wealth. That is the big key after all for everyone. Even when America is going down, everything for the big time investors on Wall Street seems to be going up. We hear about the Dow Jones Industrial Average (DOW) going fluctuating up and down, and instead of many investors losing money, they are getting even wealthier because of the futures market. Many have speculated for years now that Wall Street is often times fixed as to where heavy investors can control when exactly the market fluctuations will occur. While there are a variety of factors that take place across the world that have a direct effect on the US Markets, there are other smaller items that contribute to how well the DOW does on any given day.

Let’s take for a small example the oil futures market. This market is affected by a variety of factors including; the value of the US Dollar, the current oil stockpiles, how much is being refined into gasoline and purchased, and even something as simple as one drilling rig being closed down temporarily. The way people invest into oil is very dependent on the different reports that are received throughout the week. This makes it extremely easy to control the message that is sent to Wall Street to cause investors to place more money into oil or to take money out of it. Either way, those who have placed bets on the futures of oil will win. Insider trading has been speculated upon by this for many years now for the reasons listed above and how easy to control they are. This is the same case with a variety of stocks and commodities.

The other factor driving anger towards Wall Street is the long-term capital gains tax rate. The rate currently sits at 15% for individuals in the upper echelon of society. For many in the upper classes, their only income is derived from trading and selling long-term capital investments. These are investments that have been held for one year or longer at which point they are subject to this tax rate. Being this is their only source of income in many cases, they escape the traditional income tax rate of 35% that is reserved for individuals who make over $379,150 annually. So if an individual who makes $1 million on capital investments, they only pay $150,000 in taxes as opposed to $350,000 that someone with a regular income of $1 million would pay. That 20% difference in rate is a huge frustration for people who want to see Wall Street investors held to the same standards as any other individual who has an income. As it stands right now, capital investors are paying the same tax rate as someone who’s making between $8,500 and $34,500 annually. That doesn’t seem fair to many out there who are struggling while their peers in the upper-class share the same percentage burden for doing much less work, if any at all. Needless to say, people are frustrated.

So why does the media choose to ignore why people are protesting for accountability on Wall Street? It’s simple: they are looking out for their own investors and truthfully their jobs as well. The corporate media cannot come right out and attack their own stock holders. That is exactly what they would be doing if they were to state the real reasons why people were protesting down on Wall Street. While many reporters would love to be down there and reporting exactly what’s going on, they have producers and other higher-ups at the organizations who frown upon it for obvious reasons. This has created a scenario where most of the media outlets choose to ignore the protesters rather than to even mention them at all. It’s almost as if they can make the situation go away by not reporting on it at all. This is perhaps the ultimate goal, but not one that alternative media sites are going to let happen either. With the internet and alternative media out there, it’s honestly surprising the the corporate media is trying to ignore what’s going on completely. After all, it’s usually their job to spin the story, but not this time. They have not said much of anything which shows perhaps how nervous even they might be of the repercussions of these protests. Which is a real shame because there’s a real story to be told down there, especially with the actions of the police.

We wrote a story a couple of years ago entitled; ‘Police State: Protesters Voices Going Unheard,’ on how the voices of the people were being shut down by local governments and how the police were more than happy to do everything in their power to quiet the voices of a concerned public. The police have been very cautious in their actions during the Occupy Wall Street protests, especially after an incident several days ago in which officers ended up using mace on four women who were protesting and had done nothing wrong. This incident went viral with video on the internet, and has sparked some outrage from the protesters and people who are keeping up with what’s going on across the nation. Even New York City Mayor Michael Bloomberg has had to come out to make statements to calm people down. He did his best to express that police were only there to keep traffic from being impeded and that passersby are not harassed. While this might be the case, people are vigilant for incidents involving more rogue police officers who are directly harassing protesters.

So what is it exactly that protesters down on Wall Street want? It’s really simple and the media needs to pay attention here. Accountability. It’s really that simple. The protesters are looking for Wall Street to be treated like every other individual out there. The ’99%’ the protesters are calling themselves and appropriately so. The people want the banks who have been bailed out, the people who have made millions (if not billions) off the suffering of others, and big corporations who received bailouts to pay. They want them to pay to help get us out of a mess that they helped to create. A mess that the lobbyists got us into and one that has destroyed for many their way of life. Millions of families across the country have lost their jobs, their homes, and their dignity in some cases. People want it all back. They want the lives they once had that they feel robbed of thanks to the actions of those on Wall Street. They want Wall Street to invest back into American and less into their own pockets. They want a government that is willing to hold Wall Street accountable and strict regulations on the futures market, and especially the Over-The-Counter Derivatives market. They want everything that is wrong with Wall Street today put back into place as it was before the Glass-Steagall act was completely disassembled back in the late 90′s. Something that the media knows, yet refuses to report.

If people are expecting more from the corporate media, then they should get that idea out of their heads on this one. It takes the alternative media and the blogosphere to keep people informed on protests that directly effect the media and their investors. Honestly, this is time for true journalism to shine and for the new media to take a stand. Reporting the truth is what many people seek and look for each and every day. It’s something that the mainstream media has lacked for a long time now or have chosen to ignore. We can see that today from the AP and their short report on what’s going on. It’s a real shame that it has come to this. It has come to where household names and media outlets cannot be trusted. They have shown their true colors, and it’s not something we need here in America. ‘We the people’ deserve better and for the first time it’s truly beginning to look like we’re not going to get it from a media beholden to something more than their own viewers. Luckily there is better out there and many who are reporting what’s going on day after day. Just because the corporate media doesn’t want to report what’s going on, there are plenty more than happy to do so. This truly is a golden opportunity for a new media revolution.

Edited October 1, 2011 by DJ Kyo

[Bad_Daddy 2,209]

http://news.yahoo.com/700-arrested-protest-nys-brooklyn-bridge-030009188.html

"700 arrested after protest on NY's Brooklyn Bridge"

[lostinblue 1,989]

More than 50 arrested in Wall Street protest

http://news.yahoo.com/wall-street-protesters-march-police-025924383.html;_ylt=AmlS09ZTBBhI5wB4j2yumqCw73QA;_ylu=X3oDMTRzY2kxNmNhBGNjb2RlA2N0LmMEbWl0A0FydGljbGUgTW9zdCBQb3B1bGFyBHBrZwNjZjAyNjU3NS0wOWYxLTM1NTAtOGUwYy00ZTZmODk2MTkwYTEEcG9zAzYEc2VjA01lZGlhQkxpc3RNaXhlZE1vc3RQb3B1bGFyQ0EEdmVyAzEyYzQ4YWEwLWVjODktMTFlMC1hN2ZkLTU3YzVhOThlMGNlYg--;_ylg=X3oDMTJycmxtdGppBGludGwDdXMEbGFuZwNlbi11cwRwc3RhaWQDY2I1ZTQ0NGUtM2JiNi0zMGVmLTk3OWMtYmYxYWI4ODA2ODNlBHBzdGNhdANidXNpbmVzcwRwdANzdG9yeXBhZ2U-;_ylv=3

The group has gained support among some union members. The United Federation of Teachers and the Transport Workers Union Local 100, which has 38,000 members, are among those pledging solidarity.

The unions could provide important organizational and financial support for the largely leaderless movement.

Similar protests are sprouting in other cities, including Boston, Chicago and San Francisco.

[Danno 1,228]

I'm having trouble taking them serious myself.

I mean the kinder garden like chants, the Apple note books under their arms while dressed in ragged shorts.

And despite the demographics of NYC, the crowd is about as white as any TEA PARTY event.