Sunday, October 30, 2011

Week 8: "Panic of the Plutocrats" - NY Times


  1. Republican politicians are over-exaggerating the Occupy protests, when in fact the behavior of the Occupy protesters are not as extreme as the behavior of the Tea Party protesters in 2009. 
  2. Well-off Americans are responding to these Occupy protests with a sort of hysteria, because the system is rigged towards them and they don't want that to change. 
  3. Anyone trying to financially reform the American economic system to allow for more equality (such as Barack Obama and Elizabeth Warren) are deemed as socialist and get a bad reputation from the 'defenders of the wealthy'. 
  4. The Wall Street moguls realize how their position in this whole scheme really has no defense, so they frantically try to suppress any kind of criticism of their un-American doings. 

Source: Krugman, Paul. "Panic of the Plutocrats."New York Times. 09 Oct 2011: n. page. Web. 30 Oct. 2011. <http://www.nytimes.com/2011/10/10/opinion/panic-of-the-plutocrats.html?_r=2&partner=rssnyt&emc=rss>.

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