Talk to anyone about what they expect to see in 2012 and you’ll get an amusing assortment of feedback. Some people are convinced the apocalypse is coming, while others insist this is the year for another Super Bowl victory from Eli and the Giants. Beyond these assertions, one thing is certain: we will have a presidential election in November and it will be far more historic than 2008.
Over the past four years, America has witnessed an economic downturn alongside an uprising citizenry. Conversations once dominated by the antics of reality television personalities have given way to far more important issues, such as the role of government in our day-to-day lives, as well as the lack of accountability and genuine transparency in our financial system. Many people have also taken to the streets to protest against a wide variety of grievances across this nation.
Since September 2011, so-called “Occupiers” have catapulted into the spotlight in America; depending on whom you ask, the results of these protests are viewed as either good or bad. At best, the era of political apathy has been replaced with political passion, but at worst, some are now openly calling for de facto communism in the United States. The latter is a severe byproduct of righteous anger emanating from crony-capitalism, a system that is now approaching total and unavoidable disintegration.
One of the reasons that people congregated in Zuccotti Park is because they cannot secure quality employment. A productive response was offered in the park last month vis-à-vis a job fair dubbed “Occupy a Desk” by Derek and John Tabacco, founders of Free Wall Street Now. Even though this effort offered more than 400 employment opportunities for protesters to consider, as the brothers told Fox Business Network’s Neil Cavuto recently, not everyone responded well.
With that in mind, another reason protesters congregated in Zuccotti Park is because they are furious with those running our financial system. Wall Street workers are viewed by many as the problem, while bureaucrats and politicians get out of jail, figuratively speaking, free.
So, where do we go from here?
In my view, the only way forward will require strict accountability of individuals (as well as corporate and governmental entities) responsible for causing our financial crisis. All instances of fraud and market manipulation must be criminally prosecuted with very severe consequences for those found guilty in a court of law. We must also revitalize the key legal principles of Glass-Steagall and prohibit all-in-one banking, insurance and investment operations.
Beyond this, the United States must rebuild itself as a land of real opportunities, where all men and women are truly considered equal in the eyes of our government. This means that corporations and individuals with more money than others can no longer dominate America’s power structures. Furthermore, any laws that attempt to strip away constitutionally-protected rights must be openly shunned and legally overturned.
Finally, the Federal Reserve’s actions before and during this financial crisis must be made fully public; such transparency will result in more Americans calling for the abolishment of this 98-year-old institution. As that objective gains prominence and success, we should enact laws requiring the Fed’s successor(s) to allow for the circulation of competitive asset-based currencies in the United States.
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