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Occupy Wall Street movement

Thomas Sowell (born June 30, 1930) is an American economist, social theorist, political philosopher, and author. A National Humanities Medal winner, he advocates laissez-faire economics and writes from a libertarian perspective. He is currently a Rose and Milton Friedman Senior Fellow on Public Policy at the Hoover Institution at Stanford University.  Sowell was born in North Carolina, but grew up in Harlem, New York. He dropped out of high school, and served in the United States Marine Corps during the Korean War. He had received a bachelor's degree from Harvard University in 1958 and a master's degree from Columbia University in 1959. In 1968, he earned his doctorate degree in economics from the University of Chicago.  Dr. Sowell has served on the faculties of several universities, including Cornell and University of California, Los Angeles, and worked for "think tanks" such as the Urban Institute. Since 1980 he has worked at the Hoover Institution. He is the author of more than 30 books. By Dr. Sowell The current Occupy Wall Street movement is the best illustration to date of what President Barack Obama's America looks like. It is an America where the lawless, unaccomplished, ignorant and incompetent rule. It is an America where those who have sacrificed nothing pillage and destroy the lives of those who have sacrificed greatly. It is an America where history is rewritten to honor dictators, murderers and thieves. It is an America where violence, racism, hatred, class warfare and murder are all promoted as acceptable means of overturning the American civil society. It is an America where humans have been degraded to the level of animals: defecating in public, having sex in public, devoid of basic hygiene. It is an America where the basic tenets of a civil society, including faith, family, a free press and individual rights, have been rejected. It is an America where our founding documents have been shredded and, with them, every person'sguaranteed liberties. It is an America where, ultimately, great suffering will come to the American people, but the rulers like Obama, Michelle Obama, Harry Reid, Nancy Pelosi, Barney Frank, Chris Dodd, Joe Biden, Jesse Jackson, Louis Farrakhan, liberal college professors, union bosses and other loyal liberal/Communist Party members will live in opulent splendor. It is the America that Obama and the Democratic Party have created with the willing assistance of the American media, Hollywood, unions, universities, the Communist Party of America, the Black Panthers and numerous anti-American foreign entities. Barack Obama has brought more destruction upon this country in four years than any other event in the history of our nation, but it is just the beginning of what he and his comrades are capable of. The Occupy Wall Street movement is just another step in their plan for the annihilation of America. "Socialism, in general, has a record of failure so blatant that only an intellectual could ignore or evade it." Thomas Sowell

Occupy Wall Street Crowd Blind to Benefits of Capitalism

"Occupy Wall Street Crowd Blind to Benefits of Capitalism"

By Gary Wolfram
William Simon Professor of Economics and Public Policy
Hillsdale College

Whenever I watch media coverage of another Occupy Wall Street event I am reminded of an exchange between Jewish protesters in the 1979 Monte Python movie Life of Brian. One of the protesters asks another what the Romans have brought to the area and the conversation goes like this:

Question: All right, but apart from the sanitation, medicine, education, wine, public order, irrigation, roads, the fresh water system and public health, what have the Romans ever done for us?
Answer: Brought peace?
Response: Oh, peace - shut up!

The point is that the Roman institutions brought a good deal to the area that was being overlooked by the protesters. The Wall Street protesters, in their hatred of capitalism, overlook things including the fact that over the last 100 years capitalism has reduced poverty more and increased life expectancy more than in the 100,000 years prior.

Every semester I ask my students: "What would you rather be? King of England in 1263 or you?" Turns out, students would rather be themselves. They enjoy using their iPhone, indoor plumbing, central heating, refrigerators and electric lighting. All of these things are available to the average person in America today and none of them were available to the aristocracy when the West operated under the feudal system.

How is it that for thousands of years mankind made very little progress in increasing the standard of living and yet today half of the goods and services you use in the next week did not exist when I was born? It wasn't that there was some change in the DNA such that we got smarter. The Greeks knew how to make a steam engine 3,000 years ago and never made one. The difference is in how we organize our economic system. The advent of market capitalism in the mid 18th century made all of the difference.

We need not just rely on historical data. Look at cross-section evidence. I try another experiment with my students. I tell them they are about to be born and they can choose whatever country in the world they would like to be born in. The only caveat is they will be the poorest person in that country. Every student picks a country that is primarily organized in a market capitalist system. No one picks a centrally planned state. No one says, "I want to be the poorest person in North Korea, Cuba, or Zimbabwe," countries which are at the bottom of the Heritage Foundation's Index of Economic Freedom.

What does it mean to be poor in our capitalist society that the Occupy Wall Street crowd so hates? Robert Rector of the Heritage Foundation has several studies of those classified as poor by the U.S. Census Bureau. He found that 80 percent of poor persons in the United States in 2010 had air conditioning, nearly three quarters of them had a car or truck, nearly two-thirds had satellite or cable television, half had a personal computer and more than two-thirds had at least two rooms per person.

Contrast this with what it means to be poor in Mumbai, India, a country that is moving rapidly towards market capitalism but was burdened for decades with a socialist system. A recent story in The Economist described Dharavi, a slum in Mumbai, where for many families half of the family members must sleep on their sides in order for the entire family to squeeze into its living space.

The Occupy Wall Street movement has shown a lack of understanding of how the market capitalist system works. They appear to think that the cell phones they use, food they eat, hotels they stay in, cars they drive, gasoline that powers the cars they drive and all the myriad goods and services they consume every day would be there under a different system, perhaps in more abundance.

But there is no evidence this could be or ever has been the case. The reason is that only market capitalism solves the two major problems that face any economy-how to provide an incentive to innovate and how to solve the problem of decentralized information. The reason there is so much innovation in a market system compared to socialism or other forms of central planning is that profit provides the incentive for innovators to take the risk needed to come up with new products.

My mother never once complained that we did not have access to the latest Soviet washing machine. We never desired a new Soviet car. The socialist system relies on what Adam Smith referred to as the benevolent butcher and while there will undoubtedly be benevolent butchers out there, clearly a system that provides monetary rewards for innovators is much more dynamic and successful. The profit that the Occupy Wall Street protesters decry is the reason the world has access to clean water and anti-viral drugs.

The other major problem that must be solved by any economic system is how to deal with the fact that information is so decentralized. There is no way for a central planner to know how many hot dogs 300 million Americans are going to want at every moment in time. A central planner cannot know the relative value of resources in the production of various goods and services. Market capitalism solves that problem through the price system. If there are too few hot dogs, the price of hot dogs will rise and more hot dogs will be produced. If too many hot dogs are produced, the price of hot dogs will fall and fewer will be produced.

Market capitalism is the key to the wealth of the masses. As Ludwig von Mises wrote in his 1920 book, Socialism, only market capitalism can make the poor wealthy. Nobel Laureate Friedrich Hayek in his famous 1945 paper, The Use of Knowledge in Society, showed that only the price system in capitalism can create the spontaneous order that ensures that goods will be allocated in a way that ensures consumers determine the use of resources. The Occupy Wall Street movement would make best use of its time and energy in protesting the encroachment of the centrally planned state that led to the disaster of the Soviet Union, fascist Germany, and dictatorial North Korea.

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Oil Will Be Gone in 50 Years

There could be less than 49 years of oil supplies left, even if demand were to remain flat according to HSBC’s senior global economist Karen Ward.

"Energy resources are scarce," Ward said in a research note. "Even if demand doesn’t increase, there could be as little as 49 years of oil left." "Gas is less of a constraint, but transporting it and using it to meet transport demand is a major issue," she said. "Coal is the most abundant with 176 years left, but this is the worst carbon culprit."

If supplies were not constrained, the world would see a 110 percent jump in demand by 2050, equivalent to 190 million barrels a day, to fuel growth in the emerging world, Ward said.

But unless someone finds major new reserves this will not be possible and other sources of energy will need to be found.

"Energy security – defined in this instance as domestic energy production per head of population – will be an increasing concern," she said. "Diversifying to natural gas to ease the pressure on the oil market won’t overcome it since its supply is as geographically dense as oil."

Ward said she believes the most "energy insecure" regions are Europe, Latin America and India and predicts Europe in particular will find its energy situation getting worse.

"Europe is the big loser with many countries falling down or out of the league table of economic size," she said. "They could be losing their influence on the world stage just at the time when they are most vulnerable."

No Fast Cars

The threat of global warming is not going away and its impact will be most keenly felt in the developing world, HSBC said.

"The ‘solution’ requires greater energy efficiency and a switch in the mix of energy as well as using ‘carbon capture’ technology to limit the damage of fossil fuel use," Ward said.

"We have become terribly complacent in the way in which we use energy," she added. "The lowest hanging fruit is in the transport sector. Smaller, more efficient cars will get you from A to B, just not as quickly."

As the Japanese authorities work around the clock to avoid a nuclear disaster there is a risk that nuclear power generation will see investment cut back at a time when it was expected to play a far bigger role.

"If Fukushima results in a two-decade freeze on plans, as we saw following the Chernobyl disaster in 1986, then renewable energy will have to play an even larger role, or efficiency improvements would have to accelerate further," Ward said. "A reduced role for nuclear energy would make meeting carbon limits even more challenging."

"Government foresight on a scale not seen for 40 years will be needed to chart the route for the next 40 – at a time when the public sector in the OECD has perhaps the least capacity in decades to make strategic investments in new infrastructure."

http://www.cnbc.com/id/42224813

10 Companies with Heavy Sales in Japan

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Have a look here!


Aflac (NYSE:AFL) $50.67 per share:

Coach (NYSE:COH) $49.83 per share:

Freeport McMoRan (NYSE:FCX) $51.78 per share:

Tiffany (NYSE:TIF) $57.29 per share:

Hartford Financial (NYSE:HIG) $25.49 per share:

Adobe Systems (NASDAQ:ADBE) $31.99 per share:

Corning (NYSE:GLW) $20.75 per share:

Waters Corp (NYSE:WAT) $83.57 per share:

Qualcomm (NASDAQ:QCOM) $51.71 per share:

Boston Scientific (NYSE:BSX) $7.20 per share:



http://wallstcheatsheet.com/trading/10-u-s-companies-with-a-heavy-reliance-on-japanese-sales.html

AAPL Support now Resistance

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NFLX top?

Probably has another day to run but did you know this......

http://finance.yahoo.com/q/mh?s=NFLX+Major+Holders

The CEO sold all his shares January 28, 2011, one day after earnings.

HE OWNS 0, COUNT THEM, ZERO SHARES OF HIS OWN COMPANY NOW!

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