Explaining Southern California's economy

Tweet of the Day: The Occupy Wall Street Hipster Cop Halloween costume?

Today's tweet comes from KPCC's own Madeleine Brand Show, which has evinced a preoccupation with a character being called the "Hipster Cop." The New York Times has the full exposé on this NYPD law-enforcement icon, now a symbol of his times. The beauty of his look? It's oh-so now. You can show that you're down with #OWS and also give your skinny pants, slim ties, and snug cardigans, not to mention your nerd-frame glasses, a workout.

Protesting the financial elite never looked to fashionable.

No sign yet of an LA hipster cop. Which is a bit sad, as police HQ is right across the street from City Hall, where Occupy LA has camped out. Maybe a hipster cop isn't our thing, however. I think possibly...Surfer Cop?

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Visual Aid: The solider of the future is a robot hummingbird from Monrovia, California

Southern California was once a center for defense contracting. The Golden Age has long passed. But there's a revival afoot, and it doesn't mean jet fighters, bombers, and ICBMs. It means something more modest. The solider of the future is...a hummingbird?

That's what Monrovia, Calif.-based AeroEnvironment thinks. The company already builds drone aircraft. Right now, it's working on a concept for an autonomous, bird-like surveillance nano-drone. Drones are becoming increasingly important on the modern battlefield. And in this area, Southern California is once again taking the lead.

The hummingbird soldier of the future: it's the hummingbird...made...lethal.

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Slide Show: The slogans of 'Occupy LA'

OLA-Emperor-MDB

Matthew DeBord

It never gets old: the Emperor Has No Clothes. Although in this case it might make more sense to say that the Wall Street Banker Has No Pinstripes.

OLA-RichCannot-MDB

Matthew DeBord

Hard to get more basic that this: a marker and a hunk of cardboard. Presto! Protest sign. DIY at its very, very best and most simple. Anyone can do it!

OLA-GoToHell-MDB

Matthew DeBord

Monopoly iconography still resonates, as does the old-school graphic approach of this sign and slogan. But so modest!

OLA-NoNukes-MDB

Matthew DeBord

No Nukes?!?! What do nukes have to do with protesting a Wall Street financial elite? Well, to each his own...

OLA-DumpCongress-MDB

Matthew DeBord

"Dump the Crony Do Nothing Congress." Plus a visual rundown of all the jobs said Crony Congress isn't creating. A hideous sign, but right on message.

OLA-OccupyHood-MDB

Matthew DeBord

A poetic offering. And also a bold prediction. But so far, an accurate one: Occupy Wall Street has spread across the country and across the globe.


I made my way down to Occupy LA yesterday. The movement has for all practical purposes surrounded City Hall in Downtown Los Angeles. To my eye, it looked as if there were hundreds of tents. Some of the protesters were a bit scruffy, but the area was peaceful and calm.

Unfortunately, a tour of the scene quickly revealed a BIG PROBLEM: Occupy LA lacks a uniform graphic indentity. It has a common, unifying slogan: "We are the 99%." But the leaderless Occupy Movement has so far resisited a common signage. 

As a result, there's a serious proliferation of slogans, to go along with the 99%er complaint. I photographed a few, so enjoy the slide show! If I have a criticism, it's that they were all over the place. But the ad-hoc nature of the slogans, taking issue with everything from nuclear power/weapons (I guess) to Congress, fits with the spirit of the Occupy protest. I suppose I can say I was there before they sold out the movement's original, inclusive energy in the interest of talking points.

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Do the math: Find out if you're in the '1 percent'

Occupy LA

Eric Richardson / blogdowntown

Those participating in Occupy Los Angeles march toward City Hall.

Ah, the Wall Street Journal. It serves capitalism, but it's also a newspaper, so it wants to jump on trends. Add some nifty, number-crunching online technology to that and you get this calculator, which will swiftly tell you just where you fall in the U.S. income distribution

Give it a try! But don't get hung up on income! Remember that much of the top 1%'s wealth comes from capital gains, not wage income. So you might be looking pretty good as a household if you bring in $200,000 per year and rank in the 94th percentile. But remember that you're then taxed at the 28 percent IRS rate, while a true 1%er — which I define as a member of the U.S. financial elite, making money from money rather than from labor — is seeing their capital gains taxed at 15 percent.

There are plenty of people in the U.S. who think they're rich, but they aren't. And even if they're in the 1% as set by earnings ($506,000 annually), the gulf between you and a 1%er who makes the same off less heavily taxed investment and divident income is vast.

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Why entrepreneurs can't save the U.S. economy

Spencer Platt/Getty Images

Sheila Collins protests with others outside of U.S. Senator Charles Schumer`s office to demand more jobs on April 1, 2011 in New York City.

America loves entrepreneurs. And in the current dreadful economy, we're looking to the risk-takers and idea-guys more than ever to get us out of our unemployment rut. In some respects, you could call the entire Republican economic platform a formula for spurring entrepreneurship, with its combination of tax cuts and reduced regulation. Then again, you could say the same thing of the Democrats, who want the government to spend more money to stimulate demand for the products that entrepreneurs would create.

KPCC's Shereen Marisol Meraji reported from Los Angeles' entrepreneurship central today on the Madeleine Brand Show. She visited a co-working space and investigated the process of business-building at its most grassroots level. I'm energized by stuff like this, but I also have to throw a small amount of cold water in the face of the idea. The fact is that as important as entrepreneurs are to the economy, it's unlikely that they'll be able to create enough jobs to hammer down a 9.1 percent unemployment rate nationally and a 12-plus-percent unemployment rate in LA County.

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