Krugman: Wall Street protest offers Obama a second chance

[brentspeak]

http://www.chron.com/opinion/outlook/article/Wall-Street-protest-offers-Obama-a-second-chance-2208322.php

Wall Street protest offers Obama a second chance - Paul Krugman

By PAUL KRUGMAN
Published 06:20 p.m., Friday, October 7, 2011

snip

It is, therefore, a testament to the passion of those involved that the protests not only continued but grew, eventually becoming too big to ignore. With unions and a growing number of http://www.chron.com/?controllerName=search&action=search&channel=opinion%2Foutlook&search=1&inlineLink=1&query=%22Democrats%22">Democrats now expressing at least qualified support for the protesters, Occupy Wall Street is starting to look like an important event that might even eventually be seen as a turning point.

What can we say about the protests? First things first: The protesters' indictment of Wall Street as a destructive force, economically and politically, is completely right.

snip

And there are real political opportunities here. Democrats are being given what amounts to a second chance. The Obama administration squandered a lot of potential good will early on by adopting banker-friendly policies that failed to deliver economic recovery. Now, however, Obama's party has a chance for a do-over. All it has to do is take these protests as seriously as they deserve to be taken.

And if the protests goad some politicians into doing what they should have been doing all along, Occupy Wall Street will have been a smashing success.

[ProSense]

1. That's

a good article. Posted it earlier.

More from Krugman:

Holding China to Account

The Wages of Bad Macroeconomics

[Jakes Progress]

5. You are right.

We'll have to see if Obama will admit that he "squandered a lot of potential good will early on by adopting banker-friendly policies that failed to deliver economic recovery". He could best do that by divesting himself of the banker-friendly advisors that we like to think lead him down this stupid path. Let's see Krugman invited to the WH to school Obama's new economic advisors.

[Tarheel_Dem]

2. Krugman is wrong. OWS is a truly "organic" movement, unmolested by politicians.

The quickest way for this movement to lose it's steam is for the president to inject himself at the behest of a "columnist". If the organizers want the President to address them, then they should issue an invitation, but they run the risk of their movement falling prey to "politics as usual", much like the Tea Party. It didn't take long to figure out that the new sensation known as the Tea Party was the same old Republicans, with a racist bent. This movement, as I understand it, is made up of many people, of all political stripes. The Repubs can't wait to turn this into an Obama campaign gimmick, ala Herman Cain.

The eyes of the world are upon them right now, but when did we crown Obama, king? Flood the halls of Congress, get them on record opposing the 99%, and see where that takes them. Whatever happened to working from the bottom up, as opposed to the top down? The president should keep a respectful distance now (IMHO), as nobody knows how this will turn out. I heard a caller today on NPR talk about a website where the 99% and some Tea Party activists had scheduled a meetup, only to find when they arrived that the Tea Party activists had arranged a counter protest.

These "organic" movements are subject to infiltration. They are making a difference, but I don't think it's the president they need to convince. Oh, and Unrec. :hi:

[Dragonfli]

3. "I don't think it's the president they need to convince". I agree he is firmly on the other side

and will not be convinced unfortunately.

[Tarheel_Dem]

4. Well, you certainly convinced me of something.....

:rofl: