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Occupy Wall Street Goes Global.

  • Written by Syndicated Publisher No Comments Comments
    October 16, 2011

    The BBC reports Rome protest against cuts descends into violence.

    Riot police have fought militant protesters in Rome as the biggest of a series of global rallies against banks and politicians tipped into violence.

    At least 70 people were injured, three of them seriously, as police fought masked rioters with tear gas, water cannon and batons.

    Other protesters tried to stop the rioters as they attacked cars and businesses, marring a peaceful rally.

    The day saw coordinated protests in cities worldwide, most of them small.

    Inspired by the Occupy Wall St movement and Spain’s “Indignants”, demonstrators turned out from Asia to Europe and back to New York for an event organisers said on their website was aimed at initiating “global change”.

    “United in one voice, we will let politicians, and the financial elites they serve, know it is up to us, the people, to decide our future,” they added.

    Tens of thousands of people had turned out to demonstrate peacefully in Rome.

    However militants dressed in black infiltrated the crowd and began attacking property. Offices belonging to the Italian defence ministry were set on fire, some cars were burnt including an armoured police vehicle, in addition to attacks on cash dispensers and bank and shop windows.

    Occupy Wall Street Protests Go Worldwide

    Please consider Occupy Wall Street Protests Go Worldwide, Turn Violent in Rome

    Protests against corporate greed and inequality were spreading to cities around the world Saturday, with rallies expected in more than 80 locations, including Spain, where such demonstrations were held as early as May.

    In Rome, protests turned violent.

    Protesters there smashed shop windows and torched cars as violence broke out during a demonstration in the Italian capital.

    In Madrid, where hundreds took to Puerta del Sol square earlier this year, calling themselves “los indignados,” or “The Indignant,” demonstrations were planned for Saturday night.

    In New York, where much of the momentum for the movement has been refueled – giving it an international spotlight — anti-Wall Street protesters, who call the campaign “Occupy Wall Street,” headed into Saturday campaigns emboldened by a change of plans among park property owners and police to usher them out of their lower Manhattan encampment for cleanup and impose restrictions that would have essentially shut down their Occupy Wall Street headquarters.

    Supporters in Sydney, Australia, on Saturday waved signs such as “you can’t eat money.”

    In Frankfurt, continental Europe’s financial capital, some 5,000 people protested in front of the European Central Bank, while in London, around 500 people marched from St. Paul’s cathedral to the nearby stock exchange.

    Hundreds marched through the Bosnian city of Sarajevo carrying pictures of Che Guevara and old communist flags that read “Death to capitalism, freedom to the people.”

    Hundreds of people also joined peaceful protests in Sydney, Tokyo, Manila, Hong Kong and Seoul

    Political site Gather reports Movement Goes Global

    The Occupy Wall Street campaign, which started off in New York City, has now spread to Europe, Asia, and Australia. In the Italian capital, Rome, 200,000 attended a rally that passed by the iconic Colosseum, and started off peacefully, before deteriorating into violence.

    Government buildings in Rome were set alight, banks were attacked, and cars were torched. The more militant protestors were confronted by peaceful demonstrators, who tried to bring calm to the situation. Police used water cannon and tear gas on the huge crowd. There were also baton charges by the police.

    Social media played its part in the Occupy Wall street protests. Just as with the success of the Arab Spring, Facebook and Twitter were utilized to swell the numbers of the demonstrators.

    Another huge protest was held in Madrid’s Puerta del Sol Square, which was organized by Spain’s ‘indignant’ movement. This is a group formed in 2011 to complain against what the group deems to be an unjust social and economic system. Dozens of rallies were held all over Spain.

    Protests in London, Frankfurt, Madrid, Rome, 82 Countries

    The Guardian reports ‘Occupy’ anti-capitalism protests spread around the world

    Economic protests inspired by Spain’s “Indignants” and the Occupy Wall Street movement in New York spread to cities around the world on Saturday. Tens of thousands went on the march in London, Frankfurt, Madrid, Rome, Sydney and Hong Kong as organisers aimed to “initiate global change” against capitalism and austerity measures. Rallies were expected in 82 countries.

    As dusk fell on more than 2,000 protesters assembled in front of St Paul’s Cathedral in London, earlier addressed by the WikiLeaks founder Julian Assange, New York was bracing itself for a takeover of Times Square in a continuation of the Occupy Wall Street protests. Manhattan has seen a regular encampment of protesters in Zuccotti Park and violent clashes with police and officials.

    There was civil unrest in Rome, where police turned teargas and water cannon on the crowds. Smoke hung over Rome as a small group broke away from the main demonstration and smashed windows, set cars on fire and assaulted television news crews. Others burned Italian and EU flags. “People of Europe: Rise Up!” read one banner in Rome.

    In London, police made seven arrests and kept the crowd “kettled” near St Paul’s. Assange made a dramatic appearance, bursting through the police lines just after 2.30pm, accompanied by scores of supporters. To clapping and some booing, he climbed the cathedral steps to condemn “greed” and “corruption”.

    Assange aside, perhaps the strangest event of the day came when a bride arrived at the side-chapel in St Paul’s. Across the road, scores of police were changing into riot gear as she entered the cathedral. It was clear that Scotland Yard had opted for pre-emptive strong-arm tactics in the wake of the summer riots. Last week the new Met commissioner, Bernard Hogan-Howe, had pledged to “win days of action”.

    In Germany, about 4,000 people marched through the streets of Berlin, with banners calling for an end to capitalism. Some scuffled with police as they tried to get near parliamentary buildings. In Frankfurt, continental Europe’s financial capital, some 5,000 people protested in front of the European Central Bank.

    Another 500 people gathered at a peaceful rally in Stockholm, holding up red flags and banners that read “We are the 99%” – a reference to the richest 1% of the world’s population who control its assets while billions live in poverty.

    Social Mood is Ugly and Getting Uglier

    Bailing out the bondholders ever is simply wrong. Those who take risks need to pay the price.

    These protests are just a start of what we will see if bondholders and banks are bailed out again on the backs of taxpayers.

    Images: Flickr (licence attribution)

    About The Author

    Mike Shedlock / Mish is a registered investment advisor representative for SitkaPacific Capital Management. Sitka Pacific is an asset management firm whose goal is strong performance and low volatility, regardless of market direction.  Visit Sitka Pacific’s Account Management Page to learn more about wealth management and capital preservation strategies of Sitka Pacific.

    You are currently viewing my global economics blog which typically has commentary every day of the week. I am also a contributing “professor” on Minyanville, a community site focused on economic and financial education.  Every Thursday I do a podcast on HoweStreet and on an ad hoc basis contribute to many other sites.

    When not writing about stocks or the economy I spend a great deal of time on photography and in the garden. I have over 80 magazine and book cover credits. Some of my Wisconsin and gardening images can be seen at MichaelShedlock.com.
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