They're supposed to be clearing out the Occupy L.A. folks today. It has always felt like our Bonus Army moment. I don't recall any lasting impact that the Bonus Army had, except perhaps for a stronger Veteran's Administration after WWII. If so, perhaps here we can expect a more comprehensive regulatory regime to come about in the First Turning, maybe including Too Big To Fail laws and changes in corporate personhood. Perhaps even sooner than that.
Although the resilience of the American economy as the Eurozone goes through convulsions is surprising. I've been keeping track of mortgage rates which continue to go down and stay down. That's largely because U.S. government securities keep dropping in yield, because THEY are a safe haven!
If everyone's bond rating drops, does it matter whether I'm AAA if nobody else is better than AA?
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