No he doesn't understand the frustrations. He understands his own frustrations because he's found out that he can't impose his statist ideology on a nation that for the most part embraces liberty and not obedience to the State. He expressed nothing similar to this when the TEA Party went to town hall meetings, questioned their representatives, redressed their grievances, and voted for people that would better represent their interests. It was all peaceful except when Democrat sponsored union thugs invaded and tried to start fights. At rallies and protests, peace and friendliness, and trash was put in the proper receptacles. The result was over 60 seats gained in the House and a couple in the Senate.
Conversely, the Wall Street Occupy whine fest, have cost $millions for security, police and cleanup. There has been shitting on police cars and the American flag. There have been hundreds of arrests. There have been clashes with the police. There has been rape. There has been massive amounts of thefts. There have been a lot of anti-Semitic signs and rants. Perverts exposing themselves to children. Public sex and nudity. They have been endorsed by the American Nazi Party, American Socialist Party, Communist Party USA, and the Iranian government and the Democrat Party.
I heard an interview with a woman that owns a restaurant across the street from the OWS occupiers. Her business is down over 40%, her deliveries have stopped because her suppliers are afraid to go there. She said the protesters come in to use her bathroom, and when she says it's for paying customers, she's been pushed out of the way and spit on. The police won't do anything to protect her. Some of her regular customers have contacted her and said when they've tried to get to her restaurant the police wouldn't let them past the barricade. Police protecting and supporting spoiled whiners advocating the violent overthrow (31% of them) of the government. Backasswards.