Banking difficulties that started with the mortgage crisis in the USA, fueling the 2008 financial crisis, bankrupted governments in the Western world. Greece suffered the most and strikes became the norm. The protest movement in Greece has been running for over a year. Like financial contagion, protests spilled into the UK, during the August 2011 London riots, then the USA caught the fever.
In the USA, over the past month, the Occupy Wall Street (OWS) drama continues. From Florida, Seattle to Chicago, masses have also joined in the campaign. Just over the past weekend, police had to disperse masses who occupied Times Square. If politicians fail to stem the tide of protests in the USA, OWS could have long term policy implications. However, winter draws near and the campaign might have to hibernate untill the 2012 elections.
So far, Obama does not face serious Republican competition. OWS shows the masses have lost love for the Leader who rescued the Big Banks at the expense of industry. OWS has also exposed the myth of a free press in America. If OWS gains momentum, the Western world will be pushed into further crisis. All the problems these days seem to start in the USA.
