Wall Street Demonstrators

Below is my letter to the Daily Record regarding the Wall Street demonstrators.  For view of subsequent blogging go to


Here is the article.  Please add to the debate.

The Oct. 3 editorial cartoon depicting a Wall Street demonstrator with a water gun in front of a Wall Street bather about to be submerged by a wave titled “public sentiment” is humorous and likely accurate. However, it is also sad because a majority of the public believe myths which are false.

Why are many attacking the private economy when it is the private economy that creates most long-lasting jobs? These jobs meet real demands of the populace and thus sustain themselves and then create ancillary and additional jobs. Contrast this with the many government jobs that cannot sustain themselves without governments further going into debt. Yet in a recent poll by a 50 percent to 44 percent margin, Americans favor more, not less, government involvement in job creation.

Recently, I read two interviews with Wall Street demonstrators that exactly expressed this sentiment that government should do more. Instead, government should do less and allow our capitalist economy to grow in the U.S. Are we oblivious to the turmoil in Europe due to their failed experiment trying to grow the economy primarily via the public sector?

Perhaps there is some truth in President Obama’s comment that, over the past two decades, Americans have gotten a little soft. After all, in two decades, our obesity rate has increased from 17 percent to 34 percent. Many Americans opt for quick, easy fixes such as crash diets that rarely work. Sensible diets plus rigorous exercise work best, but take some effort. In the same way, depending on quick-fix stimulus programs mainly just add to our debt. Also, despite clear indications two decades ago that technology jobs were a wave of the future, many college students chose easy courses and now pay the price. I have been in Wall Street IT for 28 years and note that, if it were not for many green card Asians, the U.S. Wall Street industry would be much weaker. We have difficulty finding American technicians.

So wake up, America, before it is too late and smell the coffee. Support politicians who will open up our free markets again.

And Wall Street demonstrators: I see you every day and wish you would take initiative by learning skills the private economy demands. If so I would be more than happy to assist you in potential internships.

** also go to Doug Hartlove, my good friend, and President of New Jersey’s Fair Tax Organization for additional comments –> http://www.returntoexcellence.net/2011/10/responses-letter-from-wall-street_04.html

About economics501

1 - free market Capitalist; 2 - Fitness Entrepreneur; 56 years old, VP at an Investment Bank in NYC, ex Venture Capitalist, happily married with 2 girls. Education: Rutgers and NYU. I allow Ted Hruzd, my friend to blog at will here. He has many posts here. I have known Ted since we were both students at NYU. Ted also works for an Investment Bank as a VP in Equity Global Markets. ------------------------- I was very very Socialist leaning as a 22 year old. I then strongly believed in Gov role in helping the poor. However, as a USDA Child Nutrition Programs, I personally accounted for millions of fraud, abuse, and waste of tax payer money. I came to believe that the poor would be best served with less Gov programs and more with direct aid via tax system. Then after 5 years I became a free market capitalist, was a venture capitalist in 2007 and helped start 2 high tech companies. I dedicate this site to champion free market capitalism as the best road to Prosperity. Please join in. If you disagree, fine, but please post with dignity and class and be civil. Argue with facts always.
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One Response to Wall Street Demonstrators

  1. economics501 says:

    These demonstrators should stop wasting time and get training in fields that will lead to long lasting private sector jons

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