The demonstrations in Wall Street New York and other cities in the United States of America are both interesting and encouraging.It seems as if the protest movement of Europe and the Arab world has finally spread to the centre of world capitalism the United States of America.
Of course it is not suprising that the protests have spread to the USA. With 9% official unemployment and probably much higher in real terms, youth unemployment as in the UK is much higher.There has also been in America as in Europe big job downsizing with big pay cuts in real terms also many US students as in Britain have big student debts to repay.
The demand of the protesters are understandably reformist. Higher taxes for the rich,scrap the Fed and no more bails outs for rich bankers. A weakness in America is that only 7% of workers in private industries are in unions also America has never had a large socialist movement as Europe has .However the demands of the Wall Street protesters should be supported. The mere fact that mass protests are taking place in the USA against big business are encouraging.
However there are certain dangers in the protest. The pro Democratic Party front Move.on.org are trying to take control of the protests. This must be resisted. The Obama Democratic Party administration is totally pro Wall Street.Most of Obama,s finance in the last election come from American capitalist finance.A key political demand of the protsters must be the formation of a new of a new independent progressive third party which is pro labour and does not accept funding from big business unlike the Democratic party.
So in conclusion the protests in the USA are very encouraging. The demands of the protesters must be supported. The aim of the protesters must be to build a new progressive third party leading to an end to corporate rule.