A badly misfiring economy has angered and confused many in the United States and elsewhere. Protesters have been massing in U.S. cities to express their feelings about an economy that is obsessed with profit and that rewards the few at the expense of the many.

Some have rolled their eyes and warned that our bored, spoiled youth are about to mount another vandalism spree. There have been serious riots recently in Vancouver, Toronto, London, Europe and in Arab countries. Now it is America's turn. There are reports this movement will make a stand next week on Toronto's Bay Street.

Contempt is an easy emotion to reach for when protest movements are associated with mindless violence. But critics dismiss this movement at their peril. To be sure, recent protests have been driven by vandals, anarchists and young idealists drunk on Marx. This time is different. Today's protesters share many of the same grievances voiced by the U.S. Tea Party. Rarely do protest movements feature such broad appeal. There certainly is lots to complain about. People have been shocked to learn that the privileged few are immune to failure and will be bailed out with taxpayer cash when their greedy designs blow up in their faces. People don't understand that highly paid executives who don't produce anything obvious can privatize profits when times are good, but socialize risk when they mess up.

People also don't appreciate having their noses rubbed in it: Many Wall Street bankers and financiers who should have been out of work instead paid themselves huge bonuses once Washington fired up the printing presses on their behalf.

These same bankers and financiers then set to work foreclosing on the homes of families who worked hard but lost their employment nonetheless. Today, while corporations report strong profits, families are stuck in a jobless recovery where work that isn't automated is shipped overseas to low-wage economies. There are fears the middle class is disappearing and that the people responsible are being rewarded for their mistakes.

The global economic system is failing in serious respects and no one seems to know what to do about it. It is becoming increasingly evident that the status quo is no longer tenable and that something needs to change. People can only take so much incompetence and dithering before they take to the streets and make their voices heard.