Labour Unrest Grows

In my previous post, Bernanke Discusses Income inequality, Pushes For Jobs Bill, I discussed how the Chairmen of the Federal Reserve is pushing for some sort of job's bill to stimulate the economy. In this post I will highlight the social tensions that result from high unemployment and income inequality.

Please see Police Fire Tear Gas; Oakland Protesters Close Port, from Bloomberg which reports that:

Police in riot gear fired tear gas and other projectiles and arrested several people after Occupy Oakland protesters closed the city’s port.

“Operations are effectively shut down in the maritime area of the Port of Oakland,” according to a port statement issued yesterday. “Operations will resume when it is safe and secure to do so.”

The clash followed a day of peaceful protest that attracted 7,000 protesters. That group assembled in downtown then marched to close down the port, the nation’s fifth busiest. Later, police in riot gear arrested dozens of protesters who broke into a vacant building, shattered windows, sprayed graffiti and set fires, the Associated Press reported.

It should be obvious to anyone that unrest is growing in the United States, as it is in the rest of the world. Policy makers have thus far been unable to deal with the impact and consequences of the of the 2008 financial crisis. It seems that the public is loosing faith with the solutions so far put forward. Unfortunately for everyone concerned, I'm afraid that there are no easy answers.