The Inevitable Occupation of Wall Street

By Todd Harrison  NOV 17, 2011 10:30 AM

The signs were there for all to see.

 


A few years ago, I shared that my most lucid thought was to escape from New York

It’s wasn’t, and still isn’t, about me—I can take care of myself (225 pounds and all)—it's about the little ones, who continue to ask why people in the city are so angry these days. 

One of our kids goes to school across the street from the NYSE and we held him back today—with tens of thousands of protestors swarming that block, the worth-it-meter was a definitive NO. 

Let’s hope for a peaceful protest, at least for today; bigger-picture, the needle continues to point in a most unfortunate direction.

We flagged the percolating problems for the “1%” back in 2005. “As this dichotomy manifests,” we said while mingling in the mountains, “the implications for consumer spending, real-estate investment and long-term savings will be profoundly impacted.”

The following year in Vail, we touched on the growing chasm between the "haves vs. the have not’s,” deterioration of the middle class, the devolving societal fabric, the growing trend of nationalization, and the probabilities of entering a recession “entirely more depressing than a recession.”

This is NOT a victory lap; it’s some necessary context that this movement has arrived on cue and very much according to plan. The future is still ours—we simply need to find common ground, proactive purpose, and calmer heads before the wheels fall off the wagon entirely.

I don’t profess to have a simple solution—I don’t believe there is one—but we can certainly take steps to come together before we break apart.  We need a forum for discussion, mediation between classes and a solution set that provides a positive path, or even a first step. 

Make no mistake, it could get worse—a lot worse—but it’s not too late. We’ve said for years that in order to get through this, we needed to go through this. The future is ours and it starts today.

Random Thoughts:

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R.P.

Twitter: @todd_harrison

No positions in stocks mentioned.

Todd Harrison is the founder and Chief Executive Officer of Minyanville. Prior to his current role, Mr. Harrison was President and head trader at a $400 million dollar New York-based hedge fund. Todd welcomes your comments and/or feedback at todd@minyanville.com.

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