According to media reports, the “Day of Rage” promoters have been pushing for a Wall Street crash. They have said that such a stock market crash is necessary and desirable as we shared based on quotes attributed to SEIU’s Steven Lerner back in March:
“So I think we weed out a very simple strategy: how do we bring down the stock market, how do we bring down their bonuses, how do we interfere with their ability to, to be rich.”
According to the press reports, Lerner was outlining a strategy to attack the big banks such as JP Morgan and Bank of America starting in May. The strategy apparently includes the “Day of Rage” concept to occupy Wall Street that we mentioned last week. The “Day of Rage” occupation of Wall Street began last Saturday. So, let’s examine what has happened in the timeframe we have discussed.
First, Lerner mentioned attacking the big banks like JP Morgan. He didn’t go into details according to the audio tape in case law enforcement was in the room:
So, a bunch of us around the country are thinking about who would be a really good company to hate? We decided that would be JP Morgan Chase. …. And so we’re going to roll out over the next couple of months what will hopefully be an exciting campaign about JP Morgan Chase that is really about challenge the power of Wall Street. And so what we’re looking at is in the first week of May, we get enough people together – we’re starting now – to really have a week of action in New York with the goal of … I don’t want to go into any details because I don’t know which police agents are in the room, but the goal would be that we would roll out in New York the first week in May…
Now, JP Morgan is a really strong bank. They did not get into the troubles of so many other banks. On April 29th, the stock closed at $45.63/share. It opened this morning at $28.96, down a whopping 36% since the campaign was supposedly started. By contrast, the overall market as measured by the S&P 500 is down about 16% over the same period. Now, this is a stock that yields 3.3% in dividends and that payout is a fraction of corporate earnings. In fact, shares sell at about five times what the company is expected to earn in 2012. The company has been very forthright about having very limited exposure to Europe’s woes. Is it possible that the strategy attributed to Lerner and SEIU has been effective? Or are other issues at work?
How about the “Day of Rage?” Since protesters moved in to occupy Wall Street, the market has been truly miserable. In fact, it was the worst week for the Dow Jones Industrial Average since the crash of 2008. The Dow dropped almost 750 points. Market players compared the drop to the horrendous activity following the bear raids on Lehman Brothers. Add to this the recent revelation that Osama Bin Laden had a “strategy” to attack the European economy.
We have already mentioned possible connections between the SEIU and radical Islamists. This is not so far-fetched when you consider the collaboration between Marixist groups and the Muslim Brotherhood in Egypt to bring down Mubarek.The whole point of the “Day of Rage” effort is to recreate the conditions of the Arab Spring in the United States to bring anarchy-driven change as described in the tape from the Left:
“as Frances Fox Piven and Cloward taught us, you know, poor peoples’ movements are successful when they create conditions of ungovernability. And then you win victories.”
So who is the architect of this approach? According to a Huffington Post story on Steven Lerner:
“Lerner currently directs SEIU’s banking and finance campaign, mobilizing SEIU members and other community groups across the country into action to break the decades-long stranglehold Wall Street and big banks have had on our economy and democracy. Through this campaign SEIU is also partnering with unions and groups in Europe, South America, and elsewhere to build a campaign to hold financial institutions accountable in a global economy.”
Is it possible that the “Day of Rage” plan includes financial terrorism using the same weapons as used in 2008?
This is certainly worth investigating and may be providing a real-time example of financial terrorism. The question is, who will do it?
Given the seriousness of this topic, we will be watching things closely. Here is a video that may provide some insight into Steven Lerner:
All posts Copyright (c) 2011 Kevin Freeman, All Rights Reserved
