Tag Archives: Occupy Wall Street

How Do I Get A Job on Wall Street?

Job Search Strategy

Some may find the links below helpful.

How do I get a job on Wall Street? http://www.economicpolicyjournal.com/2012/06/how-do-i-get-job-on-wall-street.html

Beware of the typical advice, “Conditions are bad now so go get an MBA and then come back in two years when things will be better.”   First, “things” may be worse and how does an MBA equate to investing success?

Go where the money is: http://www.economicpolicyjournal.com/2012/06/hottest-area-in-finance.html

Yes, Wall Street is grim since it is over-bankered/brokered after decades of easy money and over leverage. But areas like manufacturing and energy will grow. You don’t have to be on Wall Street to use your skills. Be creative.

Interesting Lessons on Economics: The Cause of Booms and Busts

The art of economics consists in looking not merely at the immediate but at the longer effects of any act or policy; it consists in tracing the consequences of that policy not merely for one group but for all groups.

–Henry Hazlitt


Booms and Busts

Short two-to-three-minute videos on the causes of booms and busts:

The history of booms and busts: http://www.learnliberty.org/content/history-economic-booms-and-busts

The Myths of the Great Depression: http://www.learnliberty.org/content/top-3-myths-about-great-depression-and-new-deal

Govt. response to the 2008/09 Financial Crisis: Manipulation fails. http://www.learnliberty.org/content/2008-financial-crisis-government-response

Occupy Wall Street

I sympathize with the Occupy Wall Street protestors in their grievances against crony capitalism, government corruption and corporate welfare. Unfortunately, many of these protestors do not understand economic principles. More government intervention doesn’t solve problems caused by government control and interference in the free exchanges between individuals under a rule of law.

A short video on Occupy Wall Street Protestors: http://www.learnliberty.org/videos/occupy-wall-street-capitalism-professors-response

Ludwig von Mises on the First ‘Occupy Wall Street’

In his book Bureaucracy, Ludwig von Mises discussed the German youth movement that occurred in Germany the decade before the First World War. The similarity with OWS is quite remarkable:

In the decade preceding the First World War Germany, the country most advanced on the path toward bureaucratic regimentation, witnessed the appearance of a phenomenon hitherto unheard of: the youth movement. Turbulent gangs of untidy boys and girls roamed the country, making much noise and shirking their school lessons. In bombastic words they announced the gospel of a golden age. All preceding generations, they emphasized, were simply idiotic; their incapacity has converted the earth into a hell. But the rising generation is no longer willing to endure gerontocracy, the supremacy of impotent and imbecile senility. Henceforth the brilliant youths will rule. They will destroy everything that is old and useless, they will reject all that was dear to their parents, they will substitute new real and substantial values and ideologies for the antiquated and false ones of capitalist and bourgeois civilization, and they will build a new society of giants and supermen.

The inflated verbiage of these adolescents was only a poor disguise for their lack of any ideas and of any definite program. They had nothing to say but this: We are young and therefore chosen; we are ingenious because we are young; we are the carriers of the future; we are the deadly foes of the rotten bourgeois and Philistines. And if somebody was not afraid to ask them what their plans were, they knew only one answer: Our leaders will solve all problems.

It has always been the task of the new generation to provoke changes. But the characteristic feature of the youth movement was that they had neither new ideas nor plans. They called their action the youth movement precisely because they lacked any program which they could use to give a name to their endeavors. In fact they espoused entirely the program of their parents. They did not oppose the trend toward government omnipotence and bureaucratization. Their revolutionary radicalism was nothing but the impudence of the years between boyhood and manhood; it was a phenomenon of a protracted puberty. It was void of any ideological content.

If you want a concise, clear lesson on economics you can view the 3-hour video: 10 lectures on each chapter of Economics in One Lesson by Henry Hazlitt


The book in pdf: http://www.fee.org/pdf/books/Economics_in_one_lesson.pdf

To grasp why understanding economics is critical view the errors of Prof. Milton Friedman on the Federal Reserve. Professor Friedman praised Alan Greenspan’s reign at the Federal Reserve while completely ignoring the distortions in the economy in 2005.

Milton Friedman on Charlie Rose: http://video.google.com/videoplay?docid=-2963837673813979186#

How a bad economic theory leads to a false interpretation of economic performance. An Austrian discusses Milton Friedman’s monetary theory: http://www.youtube.com/user/misesmedia#p/u/5/DMR-r0nrk60

The Importance of Critical Thinking

If you understand the lessons from Economics in One Lesson, you will see many false premises and the errors in logic here:

Thomas Friedman, the columnist for the New York Times is daft. How can innovation in one part of his essay cause human suffering while in another paragraph innovation will improve lives?


Get Healthy and Thomas Sowell on Occupy Wall Street

Podcast on Eating Healthier or Just Do the opposite of What the Government Says


Thomas Sowell

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’s guaranteed 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

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