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It is not effective in the US under any circumstance. It never plays well here.
That's just silly emotional nonsense. Whether or not it "plays" well has no bearing on it's effectiveness for showing displeasure in the government or wall street. If someone's goal is to demonstrate their displeasure in the US government, stomping on the flag is highly effective at achieving that goal, since it clearly demonstrates that displeasure. Don't allow your personal emotions regarding the action to allow you to reach a false conclusion about it's effectiveness at achieving it's desired goal. Think rationally, not emotionally.