Cain’s remarks, on CBS’ "Face the Nation," came amidst an escalating war of words between Republicans and Democrat sover the merits of the movement, which has spread from New York to other cities across the nation, including Washington and Los Angeles.
GOP politicians in recent days have stepped up their criticism of the protesters, with House Majority Leader Eric Cantor (R-Va.) calling them "mobs" who have pitted “Americans against Americans.”
But Cain, surging in popularity among many conservatives, seems to have had among the most virulent responses to the protests.
On CBS, Cain suggested that the rallies had been organized by labor unions to serve as a “distraction so that many people won’t focus on the failed policies of the Obama administration.”
The banking and financial services industries aren’t responsible for those policies, Cain said. “To protest Wall Street and the bankers is basically saying you’re anti-capitalism,” he said. » | James Oliphant | Washington Bureau | Sunday, October 09, 2011
Herman Cain’s comments on the Wall Street protests show that he has no uderstanding of what the Wall Street protests are about. To dismiss the protests as a manifestation of “jealousy” and the protesters wanting to “take someone else’s” Cadillac is total and utter nonsense. What we have in the States (and elsewhere in the West) today is not capitalism as capitalism is supposed to be practised, but corporatism. We have big business and banks ruling the roost.
In the US today, 40-50% of all wealth is owned by 1% of the population. This is an extremely unhealthy situation. Societies in which there are such disparities of wealth, societies in which we see huge differences between the rich and the poor, the haves and the have-nots, are societies which are ripe for social unrest and even revolution. We will never see harmony in society when there are such differences in living standards.
Clearly, Herman Cain has no understanding of economic history. He should get back to what he understands most: making pizzas! – © Mark
