Sunday, October 16, 2011

The Financial Times in Favor of The Occupy Movement

In a shocking editorial, Pravda The Financial Times comes out in support of the Occupy Wall Street movement.  Be aware, this is an editorial and not an opinion piece.  This is the official stance of the editors of The Financial Times.
Today only the foolhardy would dismiss a movement reflecting the anger and frustration of ordinary citizens from all walks of life across the world. 
So far the protests in the US have been largely peaceful. They may be diffuse and inchoate. But the fundamental call for a fairer distribution of wealth cannot be ignored. What is at stake is the future of the American dream. The bargain has always been that all who work hard should have an opportunity for prosperity. That dream has been shattered by a crisis brought about by financial excess and political cynicism. The consequence has been growing in­equality, rising poverty and sacrifice by those least able to bear it – all of which are failing to deliver economic growth. 
Whether or not the protests evolve into a more coherent set of demands, or even become a more lasting political force, remains to be seen. But the cry for change is one that must be heeded.
This is indeed shocking for a paper that is the insider's guide to the City of London's financial world for more than a century.  Founded in 1888, it went pink in 1893 and has been pink ever since.

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