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December 2, 2014

Jonathan Tobin: Defending the Right to a Jewish State

Heather Hale: Compliment your kids without giving them big heads

Megan Shauri: 10 ways you are ruining your own happiness

Carolyn Bigda: 8 Best Dividend Stocks for 2015

Kiplinger's Personal Finance editors: 7 Things You Didn't Know About Paying Off Student Loans

Samantha Olson: The Crucial Mistake 55% Of Parents Are Making At Their Baby's Bedtime

Densie Well, Ph.D., R.D. Open your eyes to yellow vegetables

The Kosher Gourmet by Megan Gordon With its colorful cache of purples and oranges and reds, COLLARD GREEN SLAW is a marvelous mood booster --- not to mention just downright delish
April 18, 2014

Rabbi Yonason Goldson: Clarifying one of the greatest philosophical conundrums in theology

Caroline B. Glick: The disappearance of US will

Megan Wallgren: 10 things I've learned from my teenagers

Lizette Borreli: Green Tea Boosts Brain Power, May Help Treat Dementia

John Ericson: Trying hard to be 'positive' but never succeeding? Blame Your Brain

The Kosher Gourmet by Julie Rothman Almondy, flourless torta del re (Italian king's cake), has royal roots, is simple to make, . . . but devour it because it's simply delicious

April 14, 2014

Rabbi Dr Naftali Brawer: Passover frees us from the tyranny of time

Greg Crosby: Passing Over Religion

Eric Schulzke: First degree: How America really recovered from a murder epidemic

Georgia Lee: When love is not enough: Teaching your kids about the realities of adult relationships

Cameron Huddleston: Freebies for Your Lawn and Garden

Gordon Pape: How you can tell if your financial adviser is setting you up for potential ruin

Dana Dovey: Up to 500,000 people die each year from hepatitis C-related liver disease. New Treatment Has Over 90% Success Rate

Justin Caba: Eating Watermelon Can Help Control High Blood Pressure

The Kosher Gourmet by Joshua E. London and Lou Marmon Don't dare pass over these Pesach picks for Manischewitz!

April 11, 2014

Rabbi Hillel Goldberg: Silence is much more than golden

Caroline B. Glick: Forgetting freedom at Passover

Susan Swann: How to value a child for who he is, not just what he does

Cameron Huddleston: 7 Financial Tasks You Should Tackle Right Now

Sandra Block and Lisa Gerstner: How to Profit From Your Passion

Susan Scutti: A Simple Blood Test Might Soon Diagnose Cancer

Chris Weller: Have A Slow Metabolism? Let Science Speed It Up For You

The Kosher Gourmet by Diane Rossen Worthington Whitefish Terrine: A French take on gefilte fish

April 9, 2014

Jonathan Tobin: Why Did Kerry Lie About Israeli Blame?

Samuel G. Freedman: A resolution 70 years later for a father's unsettling legacy of ashes from Dachau

Jessica Ivins: A resolution 70 years later for a father's unsettling legacy of ashes from Dachau

Kim Giles: Asking for help is not weakness

Kathy Kristof and Barbara Hoch Marcus: 7 Great Growth Israeli Stocks

Matthew Mientka: How Beans, Peas, And Chickpeas Cleanse Bad Cholesterol and Lowers Risk of Heart Disease

Sabrina Bachai: 5 At-Home Treatments For Headaches

The Kosher Gourmet by Daniel Neman Have yourself a matzo ball: The secrets bubby never told you and recipes she could have never imagined

April 8, 2014

Lori Nawyn: At Your Wit's End and Back: Finding Peace

Susan B. Garland and Rachel L. Sheedy: Strategies Married Couples Can Use to Boost Benefits

David Muhlbaum: Smart Tax Deductions Non-Itemizers Can Claim

Jill Weisenberger, M.S., R.D.N., C.D.E : Before You Lose Your Mental Edge

Dana Dovey: Coffee Drinkers Rejoice! Your Cup Of Joe Can Prevent Death From Liver Disease

Chris Weller: Electric 'Thinking Cap' Puts Your Brain Power Into High Gear

The Kosher Gourmet by Marlene Parrish A gift of hazelnuts keeps giving --- for a variety of nutty recipes: Entree, side, soup, dessert

April 4, 2014

Rabbi David Gutterman: The Word for Nothing Means Everything

Charles Krauthammer: Kerry's folly, Chapter 3

Amy Peterson: A life of love: How to build lasting relationships with your children

John Ericson: Older Women: Save Your Heart, Prevent Stroke Don't Drink Diet

John Ericson: Why 50 million Americans will still have spring allergies after taking meds

Cameron Huddleston: Best and Worst Buys of April 2014

Stacy Rapacon: Great Mutual Funds for Young Investors

Sarah Boesveld: Teacher keeps promise to mail thousands of former students letters written by their past selves

The Kosher Gourmet by Sharon Thompson Anyone can make a salad, you say. But can they make a great salad? (SECRETS, TESTED TECHNIQUES + 4 RECIPES, INCLUDING DRESSINGS)

April 2, 2014

Paul Greenberg: Death and joy in the spring

Dan Barry: Should South Carolina Jews be forced to maintain this chimney built by Germans serving the Nazis?

Mayra Bitsko: Save me! An alien took over my child's personality

Frank Clayton: Get happy: 20 scientifically proven happiness activities

Susan Scutti: It's Genetic! Obesity and the 'Carb Breakdown' Gene

Lecia Bushak: Why Hand Sanitizer May Actually Harm Your Health

Stacy Rapacon: Great Funds You Can Own for $500 or Less

Cameron Huddleston: 7 Ways to Save on Home Decor

The Kosher Gourmet by Steve Petusevsky Exploring ingredients as edible-stuffed containers (TWO RECIPES + TIPS & TECHINQUES)

Jewish World Review Sept. 28, 2005 / 24 Elul, 5765

Market protects us better than politicians ever could

By John Stossel


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http://www.JewishWorldReview.com | "It's going to be a catastrophe!"

So I keep hearing.

The damage from hurricanes Rita and Katrina will send gas prices through the roof and destroy the economy!

"It's inevitable that this is just the beginning, it's not the end, of this gasoline crisis!" Sen. Charles Schumer told me, as Rita approached last Friday. The New York Democrat went on to say that we're "twiddling our thumbs while Rome burns ... we are weakened in every way!"

He is eager to spend your money to cure his panic. Schumer wants a new "Manhattan Project" that would use huge amounts of your money to fund "independent energy sources." I reminded him that the last time government tried that, it wasted billions on the totally failed synfuels project. Schumer said that was a failure because "political leaders" chose synfuels, but this time Congress would have "non-politicians" decide what projects to fund.

Sure they would.

If non-politicians are going to decide what projects to fund, why do we need Chuck Schumer? We already have a system in which non-politicians decide what projects to fund. It's called "the market."

If the price of a barrel of oil stays above $50, lots of entrepreneurs will scramble for ways to supply cheaper energy. They'll come up with alternative energy sources or better ways to get oil out of the ground. At $50 a barrel, it's even profitable to recover oil that's stuck in the tar sands in Alberta, Canada. As Peter Huber points out in his book, "The Bottomless Well," the Athabasca tar sands alone contain enough oil to meet our needs for 100 years.


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But Schumer and other politicians don't trust the market.

After Hurricane Katrina, he and Sen. John Corzine, Democrat of New Jersey, invited reporters to a gas station where they said gas prices were rising not because demand exceeded supply, but because oil sellers are doing something fishy.

"Up 50 cents one day, down 25 cents the next, then up another 30!" Schumer told the cameras. "Something's wrong with the market!"

Something's wrong with the market? I'd think "up 50 cents one day and down 25 the next" shows the market working very efficiently. The oil business is hugely competitive. Gas station profit margins are paper-thin. Station managers have to adjust prices constantly to keep from losing business to a station down the block. Any of us can see the posted prices without even having to leave our cars, and people often drive blocks just to save a penny.

Despite Schumer's complaints about "catastrophe," today's gas prices aren't especially high. Even after the price increases of recent years, and after the high gas taxes imposed by our bloated government, today's price ($2.75, for regular, according to the AAA) is still lower than it was in 1981 ($2.86, adjusted for inflation). The politicians won't tell you that, and neither will most of the media. When they rant about "record" gas prices, they usually forget to adjust for inflation.

Fox News' Bill O'Reilly last week also ridiculed the idea that competition sets gas prices. On his popular TV show, he said, "Somebody tells your local gas station owner exactly what to charge! Somebody does that!"

Really? There's a secret price dictator?

Why don't people trust the market? Schumer thinks congressionally appointed "experts" are the answer, but imagine how much gas would cost if the government produced it! At least $20 a gallon. Gasoline isn't easy to make.

First, the oil has to be found, and then sucked out of the ground ... sometimes from deep beneath an ocean. The drill may have to bend 90 degrees, dig sideways and bend down again, sometimes drilling through 5 miles of earth. What they finally pull out of the ground has to be delivered through unbelievably long pipelines or shipped in monstrously expensive ships, converted into three different formulas of gasoline, and then pumped into trucks that cost more than $100,000 each. Then your local gas station has to spend a fortune on safety devices to make sure you don't blow yourself up.

Even after all that, a gallon of gasoline still sells for less than the equivalent amount of Evian.

The price will go up and down, and we can count on the market to protect us better than politicians ever could.

Every weekday JewishWorldReview.com publishes what many in in the media and Washington consider "must-reading". Sign up for the daily JWR update. It's free. Just click here.

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Give Me a Break  

Stossel explains how ambitious bureaucrats, intellectually lazy reporters, and greedy lawyers make your life worse even as they claim to protect your interests. Taking on such sacred cows as the FDA, the War on Drugs, and scaremongering environmental activists -- and backing up his trademark irreverence with careful reasoning and research -- he shows how the problems that government tries and fails to fix can be solved better by the extraordinary power of the free market. Sales help fund JWR.



JWR contributor John Stossel is co-anchor of ABC News' "20/20." To comment, please click here.


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