#OccupyWallStreet is the second incarnation of “mad as hell” since the 2008 corporatist bailouts that effectively killed American capitalism. The first incarnation — the Tea Party, initially a furious response to government bailouts of failed banks — was too easy to astroturf and transmute into right-wing ideologues spouting fire and brimstone on right-wing social issues. It was too easy to discredit for what Fox News, Judson Phillips and Glenn Beck made it into — a non-spontaneous anti-tax anti-Obama ranting brigade. The Tea Party, at least at the leadership level, ended up advocating Bush-Reagan military-industrial hegemony on steroids.

#OccupyWallStreet picks up where the original intentions of the Tea Party were strangled by Beck, Palin and Limbaugh. It’s anti-corporatist. Anti-bailout. Anti-corruption. Yes, many of the people there are old-school statist leftists who want to abolish and not restore capitalism. But there is no doubt that with the global economic apparatus largely failing to appease anyone but insiders and bankers, the hopey-changey sentiments (“we have to give Obama a chance!”) that have been keeping the revolution down can’t be silenced for long. People need jobs, prosperity, fulfilment, and (for better or worse) they’ll make mayhem until they get it.

With global youth-unemployment and underemployment soaring I only expect this movement to balloon and echo around the world. There is a danger — just like the Tea Party was co-opted into the Republican political apparatus — that #OWS will be co-opted into the establishment left. If Obama removed Geithner and hired Krugman and Elizabeth Warren, a significant chunk of the protestors might be placated — for now. But the problems sucking economies down can’t just be wished away. They can’t be solved by printing money and pumping it. They can’t be solved by digging ditches. And thanks to the creation of the internet, and the rise of Facebook and Twitter, until the system functions well enough to give the indignants what they want and need, they will keep causing a ruckus. As Reagan put it:

Information is the oxygen of the modern age. It seeps through the walls topped by barbed wire, it wafts across the electrified borders. … The Goliath of totalitarianism will be brought down by the David of the microchip.

And so it might seem this totalitarianism might be ended — and God’s workers furiously demanding as much liquidity and favours as is necessary to “save the system” (and their bonuses) with no consideration that the system might itself be the problem is surely a kind of financial totalitarianism.

Sadly, we know how that aphorism from Winston Churchill goes: that Americans will do the right thing — after they’ve tried everything else.

So a new war in the middle east may seem attractive to some elements of the Western establishment:

Create a new post-9/11-style hard-to-question patriotism — “There’s a war on — we all need to rally together around the flag — the complainers and protestors must hate America” Put America back to work — in weapons factories, and on the front lines. Give the economy a large Keynesian injection — through war spending. Take out Iran, a powerful enemy of America — and send a threatening message to other uppity Eurasian autocracies like Russia and China. Curtail civil liberties & censor the internet — “There’s a war on — we all need to rally together around the flag — and those who don’t must be working to undermine America”

Let the war propaganda begin in 3…2…1…

The problem is, starting a new Eurasian war carries with it a whole host of risks — not least the possibility of an oil shock and a massive oil spike — and the real prospect of dragging Russia, China, India & Pakistan into the conflagration.