Occupy Wall Street Protests Erupt Across the Globe

 

Occupy Wall Street has spawned synchronized protests in over 900 cities around the world. Those protests involve more than demonstrations against financial institutions. While expressing solidarity with Occupy Wall Street, many demonstrations have additional roots in local issues. See “Globalizing Occupy Wall Street: From Chile to Israel, Protests Erupt” (ProPublica).

In Chile, students are demanding that the government make free education available to all. Lack of education prevents the poor from rising out of poverty and perpetuates an elitist society. Polls show that 80% of Chileans support the protestors, who are backed by unions and teachers. Demonstrations have turned violent.

In Israel, 450,000 (6% of the population) have protested the high cost of rent and the high cost of living in general. The Prime Minister proposed reforms, which were rejected as insufficient. The Prime Minister then organized a task force to improve the middle class standard of living.

In Spain, tens of thousands of Indignados protest the extreme high unemployment of over 20% and youth unemployment of nearly 50% in Madrid, Barcelona and Seville.

In the UK, 50,000 protestors demonstrated against tuition increases while the smaller Occupy London Stock Exchange movement promotes an alternative society that aims to operate without hierarchy as a full, participatory democracy.

In Germany, which is less burdened by the financial crisis, according to the article, 4,000 people inspired by Occupy Wall Street protested against the banking system. People there are bitter over the absence of financial reforms after state bailouts of banks, and young people are worried that the debt crisis will destroy their future.

The common thread still seems to be that, all over the world, the wealthy and powerful 1% have wrecked the system for the 99%, and governments are still more responsive to the desires of the 1% than they are to the legitimate demands of the 99%.

Page Perry is an Atlanta-based law firm with over 150 years collective experience protecting investor rights and fighting Wall Street greed.