UPDATE 2: A number of commenters have drawn a distinction between capitalism and “corporatism” – I agree that this distinction has some merit. However, the socialist Left is attempting to blur that distinction in order to tar capitalism as an economic model with the brush of corporate malfeasance. Hence the predictable hijacking of the OWS demonstrations (which, had they been confined to a more legitimate protest at unacceptable corporate behaviour, would have a point) by the hard Left in order to use corporate excesses to justify an abandoning of capitalism as a “broken model”.
UPDATE: This post has generated a fair amount of criticism, so further explanation is required. Governments cannot create wealth. Corporations operating in a free market are the ONLY way of sustaining wealthy, vibrant economies – history has shown this many times over. The protesters comprising OWS aren’t simply complaining about the wage divide between CEOs and employees, they are primarily anti-capitalists – they wish to see the winding back of Western free-market capitalism and a return to the failed socialist, state-controlled industries of the past, where individual achievement and success is ignored and equality for all is the key.
And as for CEO salaries, no-one seems to complain when a star entertainer or footballer is paid millions of dollars a year (despite the fact that they too are generating many times that wealth, usually for a corporation – the movie studio or the football club), but take offence at a CEO of a finance corporation in a similar position. It’s all about what kind of money you earn, clearly.
This double standard exposes the true agenda behind OWS. “Corporate greed” is just code for envy.
If you need further proof that these protests are primarily organised by far Left groups, look no further than this article at Green Left Weekly, where spokespeople were interviewed from socialist groups “Solidarity”, “Socialist Alternative” and “Socialist Alliance”:
From the Sydney demonstration
Amusing how the great unwashed, protesting at corporate “greed”, rely so heavily on Facebook, Twitter, Apple and a bunch of other “corporates” to co-ordinate their activities. The protesters are comprised of all the usual suspects of course, Marxists, communists, socialists, extreme environmentalists (naturally), the hard Left, all using the demonstrations to advocate for “social change” – i.e. wholesale wealth redistribution, smashing the corporates that drive the economic benefits that make their lives so comfortable, global government, support for Palestine and hatred for the Jews (natch). If they get their way, we’ll all be back to knitting yoghurt in mud huts.
Emails uncovered by Big Government reveal a carefully constructed conspiracy to destabilise governments and global markets. As always, those protesting represent a tiny, tiny minority of the general population, and claims of majority (99%) support are delusional.
The eco-wackos have all but given up on climate change as an agent of social change, so they’re back to old fashioned protests. Good luck with that.
This image perfectly sums up the blatant hypocrisy, which they obviously haven’t worked out for themselves:
Busted. (click to enlarge)
Australian Climate Madness 
aah true colours just came shining thru ACM!
And what colours are those? I have never made any secret of my free-market credentials.
… and the true colours of the OWS crowd …. RED
I think you’re missing the point. It’s not about stopping corporations, it’s about less of a money divide between the CEO’s and the average worker. Unrest in society is linked with huge economic divides and this is linked to social unrest, crime and the top small % of people running the masses, requiring them to have bodyguards to protect themselves against a starving majority. It’s not about stopping corporations at all.
What your talking about is called a log-normal distribution. It not only applies to wealth but to all areas of human achievement. Theres nothing intentional or evil about it it’s just the way life is. Recently a 113 year old man was asked his secret to living a long life His answer.”When it’s raining I don’t try to stop it.”
Actually I think you’re missing the point. Please show me the starving masses in Australia, and then show me the bodyguards.
Why don’t you protest about Governments too then, if you dont like a small percentage of people “running the masses”?
Makes you wonder why all the eco wackos aren’t living in caves (without iphones).
Using the applications, being free to use, does not condone in any way, shape or form corporate greed.
Using the applications, being free to use, does not condone in any way, shape or form corporate greed.
The looney-left strikes again!
The biggest ‘corporation’ supporting the majority of these protestors is their government … ‘down with greed – get a job!’
– To be fair, if it wasn’t for the internet, we “great unwashed” would never have found this site and would still be listening to mainstream media lies about global warming 😉
This author is delusional and paranoid and anyone who believes this drivel is delusional and paranoid. What a load of B.S.
Oh well done. You say…so it’s so…right?
Typical left…
Corporations rule the world so why would want to change any of the global exploitation strategies that got them to the top of the pile?? Even governments and nations are exposed now to be powerless.. Look at greece for an example.
You seem to be forgetting the corporations are mostly public companies owned by the shareholders many of whom are super funds. The people own the corporations
“The Flea Party”, Ann Coulter
Comment added to original post: Governments cannot create wealth. Corporations operating in a free market are the ONLY way of sustaining wealthy, vibrant economies – history has shown this many times over. The protesters comprising OWS aren’t simply complaining about the wage divide between CEOs and employees, they are primarily anti-capitalists – they wish to see the winding back of Western free-market capitalism and a return to the failed socialist, state-controlled industries of the past, where individual achievement and success is ignored and equality for all is the aim.
And as for CEO salaries, no-one seems to complain when a star entertainer or footballer is paid millions of dollars a year (despite the fact that they too are generating many times that wealth, usually for a corporation – the movie studio or the football club), but take offence at a CEO of a finance corporation in a similar position. This double standard exposes the true agenda behind OWS.
May I ask, what part of this article is bullshit?
I can pick out the true parts for sure, starting with the point about protesters using products of coporations (eg. iPhones by Apple, cameras by Nikon, etc.
I would have thought the eco-whackos scored a victory when “Mizz” Gillard got her Carbon Tax through the Lower House.
@Deb Norris …how right you are !!!
they are not anti-capitalist, they are anti-crony-capitalists, let’s stop pretending this “thing” going on right now is “free”.
Thanks for your post Simon.
I heard a very interesting discussion of the Occupy Wall Street (OWS) movement, on the ABC last Thusday evening between Peter Gouch (interviewer) and Scott Stephens, who is the ABC’s online editor for Ethics & Religion. See here http://blogs.abc.net.au/queensland/2011/10/scott-stephens-occupy-wall-street.html?site=northqld&program=612_evenings
This interview made me somewhat aware that there is more to the OWS movement than I realised, not that I understand it fully. It wasn’t, however, hard to imagine that if the OWS movement migrated in any form to Oz then it would most likely get hijacked by other political extremist/agendas. That is in fact what seems to be happening. Scott Stephens is a deep thinker and the audio is well worth a listen.
Cheers Brian
It is a political paradigm controlled protesting just like the tea party is and how australian climate madness, facebook page is dependent on the right for information and leading, So not suprised at all at yet another biased post from them. Wake up your being played as usual. Conquer and divide
That said i don’t totally disagree with this post i have had conversations with people who have been organizing occupy brisbane and no one can actually give any substance to what they wish to achieve. The common response is “stand in solidarity against corporate greed” I just think the whole left and right paradigm shit has to end cause as long as you stay withing those boundaries you will never ever be free
Governments have allowed corporations to have free reign. Governments of both persuasions once had investments of sustainable internally-structured enterprises that directed profits back to the people in welfare and infrastructure eg. Water gas transport telecommunications etc. These have been surrendered for short term gain and now they have no regulatory comparatives to cause competitive corporations to return equity to the people. At the same time being unwilling to wield any leverage to provide the nation with a retention of profits to pay for infrastructure etc.. Its no surprise that we now have governments selling our food futures to global mining interests!!! Where is the protest for this???
The Wall St protest was started by a group of people who were trying to make the point about the manipulation of the financial system by the likes of the Federal Reserve, Central Bankers, the UN, IMF and World Bank, in other words those organizations in favor of and working toward a One World Government.
Then the protest was taken over by Move-On, which is an NGO of the same ilk as Get-UP. These NGO’s are supported by the UN’s Sustainable Development Agenda 21. see Sec 3, 27. of the UN document on the above.
I see the protest on Wall St as not hypocritical but confused, because for the most part those putting their energy and time into it, do not know who their enemy is nor indeed that enemy that is within their tent.
The UN is in the same camp as the Res Bank IMF etc etc One World order aka One World Government. The whole world is being manipulated by them. First rule of war, KNOW THINE ENEMY
Yep, I agree. Confusion reigns.
sick of the socialists co-opting the movement >.<
How to destroy the world’s economy with the stroke of a pen!
I think that the ruling class (Governments) become inherently evil as evidenced in Australia and worldwide!
The Present global financial problems that have opened the door for the so called 99% fringe and zealot’s a good excuse to to protest (along with a lot of legitimate beefs, I for one have been seriously financially wounded) can be layed on the door of Ex President Clinton (President of the United States from 1993 to 2001) and Congressman Barny Franks, Phil Gramm-leach-bliley act in 1999 (USA Democrats and Republicans) Did away with the Glass-Steagall Act in 1999 =The Banking Act of 1933 A Banking firewall to prevent what happened with the American Banks and then the Worlds Financial system such as financial derivatives and reckless Casino Mafia type shenanigans that may still lead to a Worldwide depression.
It was replaced by the Commodity Futures Modernization Act of 2000 + SEC leverage and let Mortgage exemptions and crooked deals that destroyed the US (World) economy.
To understand even a little you must see US Congressman Dorgan’s warning in 1999 exactly what will happen and what has happened, he warned and the US government ignored it and Billions of people the world over are now suffering and it may/will get worse.
This short video will shock you as to how so called educated morons can destroy healthy economies.
Please watch: Gramm-Leach-Bliley Act of 1999-Part 2 http://www.youtube.com/watch?NR=1&v=veAOoQEy0PI
The only good side of this it will stop the IPPC and the global warming crowd COLD.
Please watch: Gramm-Leach-Bliley Act of 1999-Part 2 http://www.youtube.com/watch?NR=1&v=veAOoQEy0PI
The only good side of this it will stop the IPPC and the global warming crowd COLD there ain’t no more money honey.
ABC News article: Sydney protesters vow to hold firm .
Q: Why would they be holding firm?
A: Because they got nothing better to do … hippie freaks! Get a job.
I used to live and work in commi-social world (USSR) and now I live and work in corporate world ( Very Big Corp) . And the funny thing is there is no much difference this days.
Same ” A step to the left or a step to the right is considered an attempt to escape and we will shoot without warning” crap.
And the same fraken [snip] cleaning their way to the top leaving corps behind.
snip?
Sorry, thanks – slipped through.
Excessiveness can exist under any ‘ism’. Communism is definitely excessive and has a proven history of failure. It is out of the question. Capitalism needs some checks lest it fails too, and the world finds itself under Green Government, under fanatics who would make the reds look like right-wing wimps.
I can recall a time when the CEOs worked their way up through the relevant industry and understood it. For example, the CEO of an airline would himself be an aviator. These days too many of dubious ability are being rewarded many times their knowledge, input and effort – this includes actors and sports people. Bean counters, who have no idea of the nuts and bolts of their inherited industries, receive obscene rewards at no risk to themselves. How often do they fail, and then, without breaking stride, move on to open arms elsewhere? Mind you, that is still better than the Greens who have made it clear that it is their actual intention to dismantle industry. For them, collapse would represent success.
We hear, “Pay [CEOs] peanuts and you get monkeys”. Well that gets up the nose of those who receive a small fraction of what they call ‘peanuts’. These industry heads receive rewards that Einstein and other genuinely brilliant greats, could never have imagined (nor desired). And anyway, greatly exceeding ‘peanuts’ for remuneration doesn’t seem to discourage the monkeys. Remember Telstra and Sol? One also hears, “If we don’t pay them that sort of money they will go overseas”. I say, so damn what? Buy them a first class ticket.
The problem with the GFC – and capitalism as she is currently practised – is that the shonks and shysters in Wall St were bailed out so the system didn’t fail. Too much socialism stopped the creative cleansing that was needed, and this has discredited the entire system.
I’m all in favor of capitalism, but Obama socialised the losses and we are all suffering this second stage, slow choking as the EC makes the same mistake. Let it all fall over and rebuild. People must wear the consequences of their greed and poor judgement.
“….. but take offence at a CEO of a finance corporation in a similar position”. Simon think it through mate, movie stars and athletes do not control publically listed companies that people have invested in their money in. When they stuff up it costs shareholders money and can cost people who work for their company their livelihood. When Cate Blanchett stuffs up, like say for example, makes a dud movie (like say, the last 30 odd), it doesn’t directly affect peoples investments (other than associated with project). If Mark Webber stuffs up and bins his F1 Car and he is not hurt, big deal, they build him another one, and off he goes again. The point is CEO’s have a lot more responsibility the Actors or Athletes and should be held to a higher standard for the money they make. The Free Market Economy is in the dustbin at the moment, mainly because of Politicians and Company Executives who made crap decisions over the past 10 to 15 years. If they are a big company like GM, who do they expect to bail them out? The taxpayer. This is coming from a small business owner who has never gone broke, and believes in capitalism, but the governments of this world need to grow some b@lls and clamp down on these b@stards. PS: I still love ACM, it would be any fun if we all agreed all the time. PPS: They should also clamp down on Cate Blanchette making “Community Service Announcements” 🙂
Keiser Report: Ground Zero of Financial Terrorism (E195)
RussiaToday
Watch this on youtube, explains it all
Corporations don’t behave badly, individuals do. Criticising corporations is a straw man argument.
Anthony Grace said:
They might be completely responsible, but they don’t have more responsibility. Very often, after failing, they are given shares as part of their astronomical handshake. Their departure causes the shares to recover somewhat and they make a further killing.
… and after the protest has finished they’ll put on their Ray-Bans and Twitter on their Apple iPhones about how successful the protest was, before taking the Toyota Prius through McDonalds drive-thru to buy a Coke, on the way back to their Masterton built house. But first, a Google to find the nearest Bottlemart to buy a bottle of Rosemount for the Supre clad partner and a quick stop at the nearest Starbucks. On the way home a stop at next Shell service station for some fuel and a packet of Philip Morris before taking the Westlink M7.
A text via the Blackberry,”Can you get some Dairy Farmers milk on the way home at Woolworths and some McCain frozen pizza” before pulling into the driveway of the Orgin Energy lit house and climbing into the Captain Snooze double bed … yes a truly successful protest indeed, you can sleep well tonight!
I’d like to know:
a) Are there specific thresholds (in dollars) when “Corporate Greed” kicks in, either for a company, or an individual?
b) Should I have myself assessed for possible exposure to corporate greed, as I earn more than the national average income? How would I go about this?
c) If I blow my money on some solar panels (without any gov. rebate because I will more than likely be diagnosed with corporate greed, see b) above), and adopt a child or 5 from a 3rd world, sorry, developing country, will that offset the corporate greed?
d) If it is found that people in Australia are earning less than the national average, but more than, say, someone in an overseas sweatshop, should they also be tested for coporate greed?
Ask 99% of protesters about your corporate greed Nick and they wouldn’t have a clue what they’re protesting about … that’s why they call themselves the 99%ers.
spot on, Baldrick. Now I’d better get back to grinding the faces of the poor, and rolling around in piles of money, because I haven’t needed to work hard at all for what I have, obviously. Now where’s that caviar…
I think “99%er” makes for interesting nomenclature, because TV tells me that members of various motorcycling organisations call themselves 1%ers…for different reasons, although not too dissimilar to the 99%ers concept of their 1%ers, in some regards. (yeah, ok, Im almost confusing myself here).
i luv point (d) ,,, those protesters are probably getting more than working in a chinese sweatshop on their aus study payments
The left always decry this left v right argument – but that just demonstrates their inability to perceive differences.
It’s actually a difference between those that can’t think logically – let us call them lefties, and the rest of us that have some subjective reality on the world today.
We know very well that the lefties being socialist are severely challenged in life – one only has to look at what they achieve in life and the fruits of any socialist government….
Lefties(socialists) are driven by their own demons, and have a compulsion to destroy anything that works or works against them.
An earlier post touched on the motivation of the lefties, which of course is greed and envy – others have something while they are only just making do on benefits.
They will use any excuse to attack those that are different from themselves, IE anyone winning in life.
The fact that bankers give so much ammunition to the lefties shouldn’t distract from the actual goal these lefties have. As a mob they will destroy whatever is in their path, as an entity – calling them a movement gives them too much credence – they do not understand economics and will seek to invalidate anything that has worked upto that time, simply because it was run by non-socialists. They plot and work against society as a whole, but have no managable concept of what they would put in its place.
Socialists should have no place in a sane society. They are dishonest and enterbulate all they touch – on no account should we listen to them, for their arguments are as aberrated as they are.
Australian climate madness it is no different to the right hijacking the tea party
I have one suggestion for those privileged protestors. Try living in a poor country… working for third world wages and living without all the mod-cons and without all the other things people take for granted in the west that make everyones lives easier! Yes … they should just try it. If they did, they’d soon appreciate capitalism and the opportunities and life style it offers!
luv the sign ,,, FAIL , that rent a crowd are 1 %ers . the real 99 % are working class too interested in trying to provide for their families to be associated with something like that .
My only real beef with the big end of town is with the greedy Australian banks and the price gouging petrol companies. You could also chuck in some of the astronomical executive salaries, but thats about it.One thing this climate change debate has done is harden my attitude and heighten my suspicion to anyone on the left side of politics , especially the kind that gather at these kind of rallies.You can bet they would be 99% radical warmist .
The Occupy Together movement is an extension of Occupy Wall St, standing for human need, not corporate greed. Corporate greed is not (only) about salaries of CEOs of financial institutions that gamble their deposits and lobby successfully to getting bailed out. Corporate greed is the natural result of capitalist corporations purpose for maximising profit for their shareholders, combined with poor regulation and corrupt governments. What OWS requests is first and foremost, the prosecution of corporations like Goldman Sachs, who caused and benefited enormously with the last bubble and consequent bailouts. That and getting the government independent from the influence from corporations and money (ie regulate and avoid lobbying and campaign contributions). That and the problem of having most of the world’s economies regulated entirely by (the same) banks, which are in fact a monopoly or oligopoly which dominates the policy-making and influences governments for the creation of laws and regulations that benefit them directly at the expense of people’s livelihood, health, and future.
It was stupid Obama who bailed them out in teh first place … fool. Fail Barak Hussain!
A couple of points,
[1] Who owns the tax revenue income stream. (a) the Tax Payers, (b) the Government, or (c) the Governments Creditors?
[2] Is the political spectrum actually a spectrum of the dispersal and concentration of social authority? If it is, then Socialists, Fascists, Marxists, Communists and Collectivists in general all end up at the same end of the spectrum advocating big government, and restriction of human liberty for the “benefit of all”. At the other end are the small, constitutionally constrained Government, limited taxation, libertarians who advocate maximising personal responsibility, the rule of law, equality before the law, and individual property rights.
In our current environment, we have a worldwide network of interconnected banks (including central banks) that own the the bonds of soverign government debt, and hence the tax revenue income streams. The governments no longer serve the interests of the people, but instead serve the interests of their creditors to ensure that the credit keeps flowing to sustain government operations.
This structure is an unstainable debt ponzi which will inevitably unwind destroying both private wealth and the social welfare schemes at the same time. The monetary and financial collapse will be seized upon by those who are positioned to exploit it to move governments towards further concentration of social authority (fascism, socialism, tyranny) to protect the interests of the current banking oligarchs and to preserve the actual operation of government. That phase will also prove unstainable and will also collapse most likely through major force on force war.
The future presents generational difficulties and changes that most people are entirely unprepared for. The process of collapse began in 2008.
oh oh, I ended up on a very right wing website obviously. Well first of all a comment on the original article. I agree with you, the amount of money film stars and football players (particularly soccer) are getting is outrageous as well. The difference being that we have a choice on the matter. You don’t have to go watch football, or watch movies…. With banks and big corporation, the choice is not there, unless you plan on living in a cave as you said. The other difference is that a football player, even though he is clearly an idiot won’t cause a global financial crisis if he makes a couple mistakes in a game, or even if he decides to change club to earn more money. A bank CEO might and has as a matter of fact. That’s where the problem lay. Everybody is affected when a bank CEO makes a mistake. Now when he makes a mistake in order to earn more money for himself (hence greed), bankrupts the bank which is subsequently bailed out by people taxes, and then doesn’t even get fired or if he is, gets a huge bonus for it, I call that outrageous. And corruption. And that’s not a problem of being capitalist or socialist or whatever. In capitalism, if you screw up, you pay for it. When we screw up (the 99.9% of people), we pay for it. When a football player screws up, he pays for it (unless he rapes an underage girl, in which case the club bribes the justice system 🙂 but that’s another debate). If a big CEO screws up, WE pay for it. That’s where the problem lays. That’s this kind of behaviour, which admittedly people has now wrongly associated with capitalism, that people contests.
Hey Vince, that computer your using … is it an Apple or Microsoft product? You know those companies, there CEO’s get paid millions. Oh yes … nevermind!
And to Bryan Harris: you’re an idiot. What logic are you talking about? yours?
And what are you criticising? socialism, communism or left-wing capitalism? Do you even know yourself? There are plenty of countries that are left wing and functioning very well. Stop repeating quotes you read somewhere, and go educate yourself.
You’re a fine one to call anybody an idiot – have you read what you wrote…. but there again – this is a trait of socialists to confuse and denigrate while calling people names…
Capitalism is a very vague term… and those that don’t have a clue, point at the exccesses of the banks and say its failing – that just shows their limited understanding of what a freely motivated society should be about.
BTW – which are those socialist countries doing so well, you speak of?
What I wrote was based on observation.
As I attempted to explain, there are varying degrees of humanity in terms of capacity to function in society, with socialism and communism right at the bottom – just consider this site a few points above where you are… its nothing to do with being right wing – its just not dumbed down humanity some call socialism or communism.
@ Vincent. Has it ever occurred to you that the huge responsibility you mention is why they get payed so much?
Excellent article sir! I love the part that corporate greed is code for envy. Herman Cain said ‘”If their message is let’s punish the rich, I don’t empathize with that message”