So, the protest near Wall Street is happening right now, and it has really picked up steam in the last few days.
I was down there today talking with some of the activists, and it seems they don’t have a clear idea of what they want to change… however, they have a firm conviction to do something because they see a social problem. People have come from all over the country to participate.
This is a really great example of a self-organizing system, like your neural network. When the system is confronted with a problem, its individual parts each work in specific ways in coordination with each other to solve the problem. There is no one set algorithm for tackling the problem. This can be good or bad depending on how well the individual parts work together and their aggregate capability to accomplish their ultimate goal.
My take on solving the whole Wall St./financial industry/social economical problem?
Eliminate consumer debt by allocating a large percentage of the next few years’ federal income tax to paying the mass’ consumer debt in a lump sum. Everyone gets to help everyone pretty equally based on what they earn… and people feel less ripped off from Uncle Sam taking a cut from their check twice a month.
As far as the government’s decreased budget from this new tax revenue allocation goes: US gov really gets to break even with this deal… Sure, they will have less US dollars to spend annually for a few years (unless of course they borrow more, which they can), but the value of the US dollar will increase due to international reassurance of our financial stability because of declination in the number of people declining on debt, decrease in inflation because we’re not bailing out TOO BIG TO FAIL institutions left and right, and an increase in consumer spending (a constant in this country). Repeat this process every time things get out of control. The government doesn’t like cutting spending, so (probably), it’ll happen less frequently than ’82, ’87 (flash crash), almost in ’99 (LTCM), and bust in ’08.
Also, it’s important to note that most the big banks aren’t based on Wall Street anymore… most of them have moved to the newer diggs in midtown. And most trades are executed online.