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The 1% are the very best destroyers of wealth the world has ever seen

The 1% are the very best destroyers of wealth the world has ever seen
If wealth was the inevitable result of hard work and enterprise, every woman in Africa would be a millionaire. The claims that the ultra-rich 1% make for themselves – that they are possessed of unique intelligence or creativity or drive – are examples of the self-attribution fallacy. This means crediting yourself with outcomes for which you weren't responsible. Many of those who are rich today got there because they were able to capture certain jobs. This capture owes less to talent and intelligence than to a combination of the ruthless exploitation of others and accidents of birth, as such jobs are taken disproportionately by people born in certain places and into certain classes. The findings of the psychologist Daniel Kahneman, winner of a Nobel economics prize, are devastating to the beliefs that financial high-fliers entertain about themselves. Such results have been widely replicated. So much for the financial sector and its super-educated analysts. This is now changing.

10 of the World's Most Insanely Luxurious Houses - Oddee.com (luxurious house, amazing houses) Antilla, Mumbai - The first Billion dollar home Mukesh Ambani, the fifth richest man in the world and head of the Mumbai based petrochemical giant Reliance Industries is estimated to be worth somewhere in the region of $43 billion. He is also the owner to-be of a 27-story skyscraper in downtown Mumbai that is to cost him colossal $2 billion! His wife Nita Ambani was staying in the Mandarin Oriental in New York and was so impressed with the interior Asian style decor that she wanted something similar for her to live in. What resulted from that is the world's largest and most expensive home ever. Updown Court, England - The most important private residence to be built in England since the 19th century ($150 million) Updown Court is situated only 25 miles from London, and through a pair of large sophisticated iron gates, one can see a palatial construction of immense scale and beauty. Versailles, Florida - The largest family home ever built in the US

the capitalist network that runs the world - physics-math - 19 October 2011 AS PROTESTS against financial power sweep the world this week, science may have confirmed the protesters' worst fears. An analysis of the relationships between 43,000 transnational corporations has identified a relatively small group of companies, mainly banks, with disproportionate power over the global economy. The study's assumptions have attracted some criticism, but complex systems analysts contacted by New Scientist say it is a unique effort to untangle control in the global economy. Pushing the analysis further, they say, could help to identify ways of making global capitalism more stable. The idea that a few bankers control a large chunk of the global economy might not seem like news to New York's Occupy Wall Street movement and protesters elsewhere (see photo). "Reality is so complex, we must move away from dogma, whether it's conspiracy theories or free-market," says James Glattfelder. The Zurich team can. So, the super-entity may not result from conspiracy. 1. (Data: PLoS One)

China is ripe for its own Occupy protests Occupy Wall Street protests have not spread to the People’s Republic of China. But word of the protests has, and the Chinese authorities are trying to figure out how to respond. Skip to next paragraph Subscribe Today to the Monitor Click Here for your FREE 30 DAYS ofThe Christian Science MonitorWeekly Digital Edition Their reactions have run the gamut: from gloating denunciations of American capitalism, to a crackdown on all media coverage of Occupy Wall Street (OWS). In the early days of the OWS movement, when protests were confined to US cities, a China Daily OpEd (Sept. 30) harshly attacked the American media for journalistic hypocrisy, for not giving coverage to protests in their own country even as they had relished covering protests in the Arab world just a few months earlier. But as the Occupy movement spread globally, the Chinese response shifted. What happened? Cyberspace censorship quickly followed after the media gag order. Such a crackdown was predictable.

The New Forbes 400 — and Their $1.5 Trillion America’s 400 richest now hold a fortune almost as large as their 2007 pre-Great Recession record. By Sam Pizzigati How swell a year have America’s 400 richest enjoyed over the past 12 months? Forbes has been publishing an annual list of America’s 400 richest ever since 1982. Every deep pocket on this year’s Forbes 400 list ranks as a billionaire. Forbes, year in and year out, does a wonderfully thorough job of gauging the individual fortunes of America’s most fortunate. The basic numbers from all this research: As of the end of last month, August 26 to be exact, America’s top 400 held a combined $1.53 trillion in personal wealth, a total 12 percent up from last year — and not that far off the top 400 all-time high, $1.57 trillion, set in 2007, the year before the Great Recession hit. These massive numbers impress. In other words, every deep pocket on this year’s Forbes 400 list ranks as a billionaire. Now these comparisons, to be sure, don’t take inflation into account.

My Soapbox Advice to the OWS Movement and then some I may not know much, but I know a lot of it. So I decided to share my opinions and thoughts on what I would do if the OWS movement either elected me Grand Poobah or asked for my advice: 1. The Great Lie of Wall Street. Every CEO tells the same great white lie. Great CEO White Lie = “We are acting in the best interests of shareholders.” When a CEO utters this lie, everyone automatically forgives whatever they do. The problem is that unless the company is losing money and it is the only way to keep the company alive, in this era of 9.1pct unemployment it NEVER is in the BEST INTEREST OF SHAREHOLDERS. Shareholders , whether they own shares directly or through mutual funds or pensions do not live in a corporate vacuum. If OWS really wants to change corporate structure and impact the economy, talk to shareholders. You might even consider buying a share of stock. 2. Those personal guarantees would change EVERYTHING in the banking industry. 3. Crazy ? 4. Fixing Executive Compensation Why ?

At Occupy Wall Street, the beat goes on -- with Crosby and Nash When it comes to Occupy Wall Street and the music scene, Pete Seeger may have helped get the ball rolling. Tuesday's featured celebrities at Occupy Wall Street will be David Crosby and Graham Nash. The two are scheduled to perform a concert at New York's Zuccotti Park, where anti-greed protesters have been camped since mid-September. According to the Occupy Wall Street website, Crosby, who visited the park a few days ago, and his longtime collaborator Nash -- as in Crosby, Stills and Nash -- will turn up around 3 p.m. and perform an acoustic set. The New York activists have had support from many celebrities over the last weeks, including Alec Baldwin, Susan Sarandon, Mark Ruffalo, Tim Robbins and Penn Badgley -- as well as Roseanne Barr and Michael Moore, both of whom gave speeches in the park. And a few weeks ago Pete Seeger, the 92-year-old folk legend, marched down Broadway with about 1,000 protesters and then led them in a singalong, shouting verse after verse of old protest songs.

Forbes list of billionaires (2011) The World's Billionaires is an annual ranking of the world's wealthiest people, compiled and published by the American business magazine Forbes in March. The total net worth of each individual on the list is estimated, in United States dollars, based on their assets and accounting for debt. Royalty and dictators whose wealth comes from their positions are excluded from these lists.[1] The list has been published each year in March since 1987.[2] Microsoft founder Bill Gates has topped the list 16 of the past 21 years, including the 2015 list. Methodology[edit] Each year, Forbes employs a team of more than fifty reporters from a variety of countries to track the activity of the world's wealthiest individuals.[5] Preliminary surveys are sent to those who may qualify for make the list. Family fortunes dispersed over a large number of individuals are included only if those individuals' holdings are worth more than a billion dollars. 2015[edit] 2014[edit] 2013[edit] 2012[edit] 2011[edit] General

Jeffrey Sachs: Budgetary Deceit and America's Decline As I shuttle between East Africa, where a severe drought threatens the lives of more than 10 million people, and Athens, where a financial crisis threatens Greece and all of Europe, I am shocked by the U.S. budget negotiations between Congress and President Obama. Every part of the budget debate in the U.S. is built on a tissue of willful deceit. Consider the Republican Party's double-mantra that the deficit results from "runaway spending" and that more tax cuts are the key to economic growth. Republicans claim that the budget deficit, around 10 percent of GDP, has been caused only by a rise in outlays. This is blatantly untrue. The deficit results roughly equally from a fall of tax revenues as a share of GDP and a rise of spending as a share of GDP. On both sides of the ledger -- spending and taxes -- part of the shift results from the weak economy ("cyclical factors") and part from long-term trends. Taxation is lower also because of short-term factors and long-term factors.

Indignés aux Bastions : Yes, we camp! : Le blog de solidaritéS Le mouvement des indigné·e·s prend de l’ampleur à Genève. Au parc des Bastions, le campement compte une quarantaine de tentes, un tipi, des espaces communs, une cuisine et même une petite bibliothèque. Des AG ont lieu tous les jours à 20 h pour gérer le fonctionnement du camp et débattre de la situation sociale et politique locale et globale. Nous avons recueilli les impressions de Jean Bürgermeister, un étudiant qui s’investit activement dans le mouvement. Pourquoi t’indignes-tu ?Je suis révolté contre les prix des logements, des assurances maladies, l’organisation du système universitaire, etc. c’est-à-dire contre la société dans laquelle on vit. Qu’est-ce qui t’a poussé à rejoindre le campement des indignés ? Comment se passe la vie au campement ? Quelles perspectives vois-tu pour le mouvement ? A ton avis, quels éléments doivent être mis en avant ? Propos recueillis par Giulia Willig Article paru dans le numéro 197 du bimensuel solidaritéS EDITO Une crise sans fond?

Occupy Wall Street: Thoughts from a Member of the One Percent « Venture Capital I walked from the West Side Highway to Chinatown yesterday in the early afternoon. I passed not one, but two marches uptown to Times Square and walked along with them for a while. New York City is in the throes of the OccupyWallStreet protests. What was most noticeable to me was not the protestors and their signs and chants; it was the amount of police accompanying them. I’ve been thinking a lot about this movement, what it means, and what it could lead to. I spent a good part of Thursday afternoon in Zuccotti Park. I empathize with the basic complaint of the #OWS movement – that the rich are getting richer and everyone else is getting poorer. And I’ve got issues with some of the subgroups in the #OWS movement. Our institutions are failing us. And yet, I’m an optimist. So much depends on what we get out of this growing desire for change.

Payday Loans- Money Loans- Fast Loans Same Day Les indignés montréalais se préparent pour l'hiver | Grands Titres Les indignés montréalais commencent à se préparer pour l'hiver. Alors que plusieurs villes du pays durcissent le ton à l'endroit des indignés qui occupent des lieux publics, Montréal reste plus indulgente, mais avertit que sa tolérance a des limites. Les autorités montréalaises ont indiqué mardi qu'elle ne permettront pas aux manifestants de construire des abris permanents au square Victoria. Plusieurs d'entre eux ont commencé à se préparer à la saison froide en mettant des planches et de la laine isolante sous leurs tentes. Au cours d'une rencontre avec les indignés, des représentants des services administratifs de la Ville et de l'arrondissement de Ville-Marie leur ont notamment demandé d'enlever les abris permanents qu'il sont en train de construire. Cela dit, la Ville continue d'appliquer sa politique de tolérance avec l'appui de l'opposition. La pression s'accentue à Québec Régis Labeaume devant le conseil municipal à Québec, lundi soir. « Québec n'est pas une ville financière.

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