Hedging against a Weak Dollar Essay Example | Topics and Well Written Essays - 2000 words

Hedging against a Weak Dollar - Essay Example From the research it is clear that for the five-year period ranging from 2007 to the end of 2011, the US dollar has experienced numerous fluctuations. The highest value of the Euro in comparison to the dollar was 1.5991, during the 2008 global economic crisis, when American multinationals were going into bankruptcy or requesting bailouts by the government. The lowest value was 1.1923, in the year 2010, two years after recovery from the meltdown. Over the course of last year, the dollar reached its highest and lowest points for the period at the start and at the end of the year. At these times, the dollar was stronger in relation to the Euro. In the middle of the year, the dollar was weaker in comparison to the Euro for the year, and almost reached a rate of 1.5 against the Euro in comparison to the beginning and the end of the year when it was below 1.3 against the Euro. Another short-run determinant to exchange rates between the euro and the dollar is the growing capital mobility ac ross the globe. All forms of financial markets now share access to each other on a global scene, and investors put their money in the markets that offer them the best returns, without restrictions to invest locally. Whenever demand for US assets is bigger in relation to relative demand across the globe, the demand for US dollars will likewise increase. The converse is true, when the demand for US assets falls, investors will have put their money in competing markets rather than the US market, and likewise the dollar will depreciate in comparison, as the investors make the most of the more profitable markets around the globe. Relative price levels A fall in prices causes an appreciation in the currency while a rise in price levels causes a decrease in the value of the currency. For the US dollar to fall in relation to the euro with regard to the price level changes, the goods in the European market would have to fall in prices in relation to the same goods in the American market, or fall at a greater rate in relation to the goods in the European market. A fall in the price of goods indicates a strengthening of the dominant currency in the market. Tariffs and quotas Barriers to trade may significantly affect a currency’s value. The tariffs decrease demand of foreign currency in as a fall in the demand for foreign goods occurs. The result is an increase in the value of the domestic currency. Consequently, the reduction of trade barriers has the reverse effect on the local currency. Enforcement of a quota system for some goods to the European region affects the amount of American exports into the region, which sets a ceiling for the amount in value the dollar can have in relation to the euro over the year. Preference of domestic over foreign goods Increase in demand for domestic goods, exports, causes an increase in the demands of the foreign currency. The converse is true; increase in the demand for the foreign currency causes the domestic currency to depr eciate. Increase in demand for domestic goods, for instance, the increase in American made automobiles increase the demand for the

The Gender and the Nature of Enquiry Essay Example | Topics and Well Written Essays - 2250 words

The Gender and the Nature of Enquiry - Essay Example In this study, two pieces of research into issues in education are used to compare and contrast the approaches used in terms of establishment of a theoretical basis. Backgrounds on the Studies The first study is by Philips (2002, pp. 409-414) who investigated the underrepresentation of women in the engineering profession in the UK. The study identifies the imagery and cultural stereotyping affecting the educational decisions and choices made by girls and young women as being responsible for the issue. The researcher embeds his study in the social construction of gender as her theoretical framework and argues that domination of engineering practice by men results in the field becoming masculine out of societal perceptions. Citing criticism of positivist approaches to social research, the researcher uses a qualitative approach, undertaking an interview-based methodology to achieve inter-objective understanding. The study sampled 15 participants drawn from female engineers already train ing and working in the UK. The second study is by Archer, Halsall and Hollingworth (2007, pp. 165-180) investigating the disengagement from education of inner-city, ethnically diverse working class girls due to their construction of hetero-femininities. The researchers are of the opinion that construction of identity and values based on heterosexual femininities by girls contributes to their disengagement from education and schooling, and address the paradoxes that arise when such hetero-feminist constructions spill over to oppressive power relations. The study itself was qualitative, involving in-depth interviews, focus groups and some photo diaries. It sampled young people across 6 urban London secondary schools aged between 14 and 16. The interviews were undertaken 3-4 times in two years and involved interviews with the staff. Theoretical Frameworks of the Studies Gerring (2001, pp. 8-9) discusses the absolute importance of basing social research on sound theoretical frameworks. Social research without these bases is inconceivable as they provide the guidelines used by scholars to define and refine their studies. They specify interconnected questions and hypotheses that then guide the researcher in establishing his/her study. Philips (2002, p. 410) selects social construction of gender over feminist theories such as standpoint perspective in explaining that the predominance of males in the engineering profession as a main contributory factor to under-representation of females in engineering education and practice. A self perpetuating stereotypical perception is created among people that engineering is a masculine field due to the prominence of men in the engineering practice. The masculine orientation of the field and thus education is maintained by these prevailing social and sexual stereotypes, and confirm the views that science and technology are an essential aspect of masculinity in the modern day. Basing on this theoretical context, the under-represent ation of women in the engineering education is explained by the perceptions of young women that engineering is a masculine field and thus they chose not to study it. It is thus important to break the perception if at all gender balance is to be achieved in the engineering education and practice. In contrast, Archer, Halsall and Hollingworth (2007, p. 167) underpin their study on two

Liquefied Natural Gas Lng Economics Essay

Liquefied Natural Gas Lng Economics Essay Liquefied Natural Gas forecasts are highly-structured and capital intensive in order to protect the investment return that projects developers conventionally covered all their future LNG. The past years have witnessed a dramatic development in LNG industry which is under metaphases from an infant towards a maturing industry with the ongoing process of slackening in the world market, LNG plays an increasingly important role in meeting the rapid gas demand worldwide by offering its merits of diversification and flexibility for securing gas supply of price signals cross isolated regions. According to BP 2010 So far, LNG accounts for 30.5% of world trade volume and the figure is expected to be growing. Over the past five years it has became acceptable industry practice for even contractually committed LNG with a specified destination to be diverted to another market with mutual agreement of both the seller and the buyer. The financial incentives to benefit from market in efficiency and regional supply-demand motivated market players to allow ad-hoc cargo diversions, sharing the profit resulting from the arbitraging between the respective parties. With a careful study of the process of arbitrage from school of thought: Prof. Dr. Hasret B. and others; I have been privileged to understand the nature of LNG and why is not neglected. This same study put up a questions: who are the arbitrageurs, what are the constraints and limitations they fall, and why arbitrage can fail to bring prices close to the fundamental value which implied by standard models. However, the focus of this article on the nature of LNG arbitrage and its theoretical growth in global markets reveals theoretical development within a simple model and also suggest directions for future research. According to Zhurravleva (2009), he pointed out why the LNG project is still in existence In 2007, the Equatorial Guinea LNG project sold its entire LNG output on a FOB (Freight On Board) basis to BG for 15 years, without incorporating a destination clause in the contract. Now what she actually meant here is that the business has enabled the buyer (BG) to divert the cargoes and act as aggregators (arbitrageur), effective and monetizing their delivery. Other significant sources of flexible cargoes are Qatar, Trinidad and Tobago, Algeria and Egypt. The classic destination and the availability of non-committed shipping capacity are not the only barrier towards the LNG arbitrage rather than other factors such as; technical and market restrictions, high transaction costs which hinder LNG diversions. The significance of these barriers varies overtime and differs from market to market; however it is important to understand the aforementioned theoretical importance and the extent to which they may constrain the development of the global LNG arbitrage market. Therefore with a clear observations of The Unique Features of the LNG Shipping Market: A Study of Ship-owners Structure and Fleet Distribution by Wang, S. et al 2011; a common assumption refers to the spending race in which high frequency traders employ LNG trading to execute orders as fast as possible in other to gain an edge in trading. This is because LNG arbitrage was viewed as natural conventional evolution that eventually would translate into more efficiency in the market place as the speed down to all investors in the markets. The past years of a close witness of how LNG industry put up a dramatic development still remain green in my mind till today. This because I was present creating inspirations with mine Late Timothy O. Anyanwu.; he gave breath to me and nurtured me towards the business in sub-region at Enugu, Nigeria. From a clear concept of it is being characterised with a high-structured and capital intensive one which is tied with a long-term contracts for years or more. He maximized a transparent and profitable annual return for Oando Nigeria Plc till present. 1.2 LITRATURE REVIEW With the general growth of LNG arbitrage research in business and financial project sectors, it would be glare to put a distinct relationship or differences between a considerable attention I recent years. In some research attempts to go beyond the project assumptions about how is being created for several years, they focused on point of context from one point of view which uses conversation analysis, such as LNG arbitrage, barrier and other interactional features. It inter-related some research which has focused only on the description of differences, other work has shown clearly how LNG projects reflect and reproduce financial differences. Accordingly, Zhuravleva (2009) pointed that the significant of barriers towards LNG varies overtime and differ from market to market. He pointed also that is important and to the extent to which they may constrain to the development of the global LNG arbitrage market. According to Mazighi (2003) considered that the globalization of LNG markets requires four conditions to be met; the natural, the economic, the technical and the institutional conditions. Much of the earlier work emphasized dominance. Neuhoff Hirchhausen (2008) suggested that assets-specific investments and uncertainty along with the LNG supply chain imply high transaction costs. He went further to point that long-term contracts can however help to minimize the transaction costs for two parties engaging in the commitment. According to an empirical analysis of Ruester (2006) it showed that in response to market deregulation, vertical integration was driven by upstream producers moving downstream with ownership of transportation capacities to exploit arbitraging possibilities and distribution and power companies moving upstream to ensure margins and security of supply. While some of the more popular work of this type, such as Jensen (2004), there are some potential similarities between the oil market and the natural gas market, however the way a global LNG market will set up is found to be different. The high cost of LNG transportation is one of the main reasons preventing the LNG market to be as flexible as oil market. He went further to point out that; long-term contracts in LNG have been the vehicle for sharing the large up-front investment risk characterize LNG projects, the short-term trading had been growing fast in recent years given the declining costs along the supply chain, the growing diversity of supply sources and loosening of the conventional rigid industry structure. Thus, the long term contract still remains a mainstay of international trade, and the growth of short-term trade volume and price arbitrage are limited accordingly. Although Zhuravleva (2009) distinction is clearly a useful one, it is also seems evident that the some useful approaches are by no means mutually exclusive. While is important on one hand, therefore, it is important to focus on the development of LNG arbitrage even when there is constrains. It also pointed out some conversation support on (P.2) clearly there is scope with great deal to expand in the area of this topic research Is based on embryonic stage of development Establish more insight on a clear formation of LNG arbitrage. Distinguish between LNG arbitrage with other trade activities relating to LNG markets. 1.3 METHODOLOGY This article is based on primary research. It involves three components: online questionnaires, interviews, mine experience in the business in Nigeria and feedback from the presentations of the research referring to Zhuravleva (2009) Oxford Institute of Energy Studies (OIES) The target group for the research was carefully selected to provide an informed range of insight. Thus, among the participant were natural gas and LNG traders, leading independent consultants, senior figures from several of the major energy companies and publishers of LNG journals and bulletins. The surveys sample size is relatively small due to the highly specialized nature of the topic, the dearth of trusted specialists in the LNG arbitrage trade and the difficulty in accessing experts. Nevertheless, the profiles and experience gathered by mine self and the participants were representative of the best in the sector. The data for the qualitative analysis was obtained with the help of the online questionnaires. When all the responses were collected, each participant were interviewed to assist in the qualitative analysis of the data. 2.1 Defining LNG Arbitrage Arbitrage is defined as the simultaneous purchase and sale of the same tangible goods in two different markets for advantageous purpose of different prices; but here such arbitrage required no capital and entails no risk Thus, referring to LNG arbitrage it means a physical cargo diversion from one market to another or re-experts of cargoes to spot gas market in markets in which gas prices are as much as high that covers the costs and profit remains. According to Zhuravleva (2009) defined LNG arbitrage as a physical cargo diversion from one market to another, which offers a higher price. He explained further that the diversion of the cargo can be regarded as arbitrage if the cargo was initially committed to the first market and to the initial buyer in a commercial contract. Two key drivers for arbitrage are commercial and operational. Commercial Driver: This is the ability to take advantage of price differential between the markets, which arise due to differing pricing structures, variations in the relative balances between supply and demand and market inefficiency. Operational Driver: This is the financial lose minimization in case of plant outages overfill storage tanks or force. However, advocates of unique world market for gas has to take into account that arbitrage are costly, and thus can lead only in some convergence of prices between different regional markets but not to the full price. According to Ikonnikova (2009), it makes the market flexible option and allows market players to benefits from arbitrage opportunity playing on price differential across regional market. 2.2 Models of LNG Arbitrage These are the three main models used in LNG trading; Models I: Seller Arbitrage: Here seller and buyer are used to indicate the seller of LNG cargo and the buyer of the LNG cargo. Initial buyer is the customer for whom the LNG has been initially contacted, while End Buyer is the purchaser of the diverted LNG. Model II: Initial Buyer Arbitrage: This model points out that the initial buyers market prices remain stable due to players profits from the arbitrage and replaces the LNG by spot cargoes later. Commonly used by Spanish Importers. Model III: Independent Trader Arbitrage: In this model another player called Independent Trader appears in the transaction. He buys the cargo from the initial buyer (Seldom from LNG Seller) and gets the right to divert the cargo to another customer offering a higher price. E.g., Garpron and Gas De France 2004. 2.3 Barriers to the Growth of LNG Arbitrage in Global Market After a qualitative analysis from the questionnaires of this article, the growth of the LNG arbitrage market implies an increase in the number of arbitrage transactions annually and the increase in the volumes that are being diverted one market to another. They are more than 12 barriers towards the growth of LNG arbitrage in global market but few will be mentioned here. They are as follows; The Price Differential Between Markets is Not Great Enough: Price spread must be great enough to cover the transaction costs and be a sufficient incentive for the aggregator, who often has to share the profit with another party. Without a price spread that allows the trader to profit, no arbitrage transaction will take place. Small Number of Players in the LNG Market: If two buyers are present for transaction in market then an arbitrage deal should be potentially possible. But they are rarely scarce for transaction. Lack of Price Transparency: Lack of price transparency complicates arbitrage trade and demand quickness of wit and good connections between the traders. In relations to countries involved in LNG trade, the US and UK gas market are the most transparent and liquid in the world while in continental European gas market where LNG is important Spain, France and Belgium. 3.1 CONCLUSION AND RECOMMENDATIONS With clear evidence on todays LNG world, it has been argued that it will drive the world markets for natural gas from region to unique world price but with a qualitative observation, the growing role of LNG arbitrage opportunities between countries differ from each other. And at the same time, the price gap between countries also differs because of its landing cost (transportation cost). We suggest a positive recommendation which could guide the global world at large which is UNIFORMITY in terms of LNG arbitrage operation. More research need to be done to enable expand this article aforementioned toward; its embryonic growth development, clear formation of LNG arbitrage and trade activities relating to LNG markets. REFERENCES Billingsley, R. (2005), Understanding Arbitrage: An Intuitive Approach to Financial Analysis. Wharton School Publishing, US BP Statistical Review, 2010. Chabrelie, M. (2003) A new trading model for the fast-changing LNG industry, first Asia Gas Buyers Summit. Clarkson research services (2010) Report of LNG Trade and Transport 2010. Facts Global Energy (2008), East West LNG Pricing Comparison: New Trends. New Frontiers, And Future Price Markets, Presented at Gastech, March 12th 2008, Bangkok, Thailand. Ikonnikova S., 2009, Strategic model of LNG arbitrage: analysis of LNG trade in Atlantic Basin, in 32nd International Association for Energy Economics Conference Proceedings. Institute of Energy Economics, Japan (2008), Natural Gas and LNG Supply/Demand Trends in Asia Pacific and Atlantic Markets. Tokyo, Japan. Jensen, J.T. (2004), The Development of a Global LNG Market. Oxford: Alden Press. Neuhoff, K., von Hirchhausen, C., (2005) Long-term vs. Short-term Contracts: A European Perspective on Natural Gas. Ruster, S., and Neumann, A., (2006) Corporate Strategies along the LNG Value Added Chain An Empirical Analysis of the Determinants of Vertical Integration. Wang, s., Notteboom, Theo E. (2011). The Unique Features of The LNG Shipping Market: A study Of ship-owners Structure And Fleet Distribution. Paper presented at IAME 2011, Santiago de Chile, 25-28 October 2011.World Bank Commodity Price Data, March, 2012. Zhuravleva. P. The Nature of LNG Arbitrage, and an Analysis of the Main Barriers for the Growth of the Global LNG Arbitrage Market, Oxford Institute for Energy Studies, NG 31, June 2009. TABLE OF CONTENTS Cover Page i Abstract ii Key words ii I.1: INTRODUCTION 1 : LITERATURE REVIEW 4 : METHODOLOGY 5 2.1: DEFINING LNG ARBITRAGE 6 Commercial Driver 7 Operational Driver 7 2.2 Models of LNG Arbitrage 8 2.2.1 Model I: Seller Arbitrage 8 2.2.2 Model II: Intial Buyer Arbitrageur 8 2.2.3 Model III: Independent Trader Arbitrage 9 2.3 Barriers to the Growth of LNG Arbitrage Global Market 9 3.1 CONCLUSION AND RECOMMENDATION 9

Hamlets Troubles :: essays research papers

Hamlet is supposedly centered on one character; Hamlet himself, but the play is driven by plots and schemes that are derived from other characters in the play. The plot of Hamlet is constantly being heightened by the characters that are a part of the play, they help to manipulate the story in a way that places an emphasis on reflecting many struggles that one might encounter in life, but all compiled into one story. In the play Hamlet, Polonius is a character that intertwines the rest of the characters and brings them together to complete the final task of redemption for the death of King Hamlet. Throughout the whole play, Polonius is the only one that seems to be trying to tie everything together to help everyone out, and in the end, it is that quest for knowledge that leads to his demise.   Ã‚  Ã‚  Ã‚  Ã‚  Polonius is a man that confuses most, but intrigues all. For the beginning of the play he is the readers guide, and helps to inform the reader of all that is happening within the lives of the main characters. He was not meant to be a main character, but any character that is put in the position of an informant, instantly becomes a main character. To be an informant, is to be one who shines a new light on the situation at hand, and that fills in information where information is needed. Polonius is a character in the play for just long enough to give the reader a good start with what is going on. Polonius is the one character who communicates and interacts with every other character in the play. Retrospectively he pieces the play and the characters together to make them more understandable to the reader. Communication is what Polonius does well, but it is also what he does for his living. “I hold my duty as I hold my soul'; (2.2.44) puts emphasis on his dedication to the King, but at the same time he has dedication to his daughter, Ophelia, his son, Laertes, and the Queen, Gertrude. His connections with these powerful people is a great example of how they are all getting information from Polonius, and using it to reap their own havoc. Polonius’ position as the “middleman'; gives him an indescribable amount of power, that he takes advantage of. He uses what others tell him to supply others with valuable information, all the way up until his sudden demise.

Tricia Smith Vaughan’s “Not Homeschooling? What’s Your Excuse?” a Critical Response

Should public, or government, schooling be avoided? In the essay No Home-schooling Vaughn Argues that Homeschooling is the best schooling for children and that government schooling should be avoided. Parents put forth the excuse that they are not smart enough to teach their children. Parents believe that government schooling teaches their children both academics and socialism. â€Å"The government schools are not teaching your child Judeo-Christian values; they are going to teach him or her how to survive in a group†¦Ã¢â‚¬  Public schooling in the United States is set up to dumb children down.Homeschooling provides one on one attention to a child, and so they do not have to fight for attention from a teacher in governmental schooling. Public schooling is being used as propaganda changing the way your child may think whereas homeschooling provides your child the opportunity for a parent to teach the values of true freedom and individuality. Children need to be tested for their values instead of their knowledge and this simply cannot be done in government schooling.Homeschooling is not for every child, some students learn better in a group environment where they learn the social skills necessary to succeed academically. Just because one thing is good for a certain child does not mean it is beneficial to another. All children have different learning styles specific to their personality. Some children need one-on-one attention to be able to comprehend academics to the best of their ability, and other students can learn in a group. It all depends on the child which education is best for them. Learn how your children are being tested for their values instead of their knowledge. †(p647) Government schooling is secular thus there is no values of Christianity, but what about private schooling, or private Christian schooling? There are many other options for your child to obtain a great education. Different schools teach different values depending on the cla ssification of the education, and you have to choose which is best for your child’s learning behavior. In private schooling children usually have smaller class sizes which allow for one-on-one attention.Government schooling gives a better education than private schooling and homeschooling to the funding received and the children who want to learn. I think sometimes children that are homeschool or receive a private school education take their education for granted because they have opportunities that children in public school may not receive. In private schools children are taught values of Christianity and academics. In public schooling children are taught values of social survival and how to outsmart a classmate.Socialism is always beneficial for a child, but it is how a child is taught the morals of socialization at a young age. I find that the author has a very biased opinion on Homeschooling. She uses her own child as an example on how homeschooling is best for every chil d. What the author fails to explain is that government schools are different all over the country. It depends on where the child lives, and how the state government is working to improve the education. The values a child is learning whether it is in any school private, public, or home they are learning the skills and values necessary to function socially in the world.Education is different for every child; it all depends on their learning style. Children will be taught the values and skills necessary to socialize in the world through any kind of education. The government may not teach Christian values, but those can be taught out of school. Government schools are different all over the country it just depends on where you live that would provide a good education or not. Children just have to find out where they learn best and then they are going to thrive, and it may not be homeschooling but a government school.

Essay about American Foreign Policy in South Korea

Plan of Investigation This investigation explores the question â€Å"To what extent did the American foreign policy in southern Korea before the outbreak of the Korean War contribute to North Korea’s decision to invade the South?† To assess the degree of success to which the policy affected the communists’ decision to invade the South, various U.S. documents, especially the official U.S. government policy documents on Korea, will be evaluated for their effectiveness, as well as role of their role in Korea. This investigation will not only examine the extent to which the policies contributed to the invasion, but also consider the role of internal problems of the South and the military strengths of the North. This investigation will span the†¦show more content†¦Although the intent was to keep the armed forces of South Korea well trained against a possible war, poor U.S. military aid and use of U.S. advisors were not enough to keep its forces and eventually, they were under-tra ined and under-supported (Cumings 6). In the National Security Council report of 2 April 1948, The Position of the U.S. with Respect to Korea, American government extended the aid, training, and equipping the Korean armed forces only with an intent to keep its forces â€Å"capable of protecting the security of South Korea against any but an overt act of aggression by North Korean or other forces† (Tucker 808). The Truman administration at the time believed that the South Korean President Syngman Rhee, who was known for constantly threatening the U.S. with â€Å"bukgin† slogans (march north), might use the heavy weapons to unify Korea by force, creating tensions between neighboring nations such as the USSR. 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15 Quotes Bust 5 Myths About Being Famous

There is a proverb that goes, Uneasy lies the head that wears the crown. While being famous is every childs aspiration, fame has its own set of prickly issues. Do you want fame for the sake of being famous? Or do you want fame as a part of success? Being famous has its  share of perks. Most people chase a dream of being a celebrity because they associate power to fame. Famous people have fawning fans, media attention, and spotlight on themselves. Not to mention a huge bank account and freebies that come as perks of being a celebrity. Celebrities attract crowds, and they have a huge influence on the masses. Perhaps the need to being famous arises from the need to be appreciated and loved. However, it is not easy to be famous. In most cases, famous people also have to bear the brunt of their popularity. Dirty gossip, slander, and scandals are a part of every celebritys life. They are judged too harshly for their mistakes and criticized for their action, however naive. Here are some myth-busting facts about being famous.   Myth #1: Being Famous Means Being Loved by Everyone. You couldnt be farther from the truth here. There is no correlation between being famous and being loved. True, you have a bunch of ardent fans, who will mimic everything you say or do in public. But that does not mean they love you. It is just that they find you attractive enough to copy. Or because they dont have a strong personality of their own. In most cases, being famous means being under the hot scrutiny of every prying eye. Nothing is spared. Not your private life. Not your past life. Not your unflattering moments. Nothing at all. People love you only as long as they care. Once they get bored  or find another celebrity worthy of attention, they will gravitate towards the new kid on the block. Myth #2: Famous People Have Tons of Money. While most famous people have lavish lifestyles, that does not necessarily translate into huge bank balances. Most celebrities are on the brink of bankruptcy, because of their exaggerated lifestyle, and uncontrolled expenditure. Many famous people run themselves down before the spotlights fade away. To be a celebrity, you have to maintain a certain persona, which requires a lot of financial support. Botox and facelifts can cost a bomb, but they are necessary evils for most celebrities who want to maintain a certain image in public. Myth #3: Being Famous Means Being Invited to Grand Parties. Yes, that may be true. Being a celebrity means that you have to attend grand, lavish parties. Thats a part of the package. You may be invited to the Queens ball or the biggest rock show of the year, and you would be required to attend it. There is a benefit of hobnobbing with the whos who of the world. You may get more offers, opportunities, and favors. Thats how the rich turn richer too. So, fame begets fame in many more ways than one. Myth #4. Famous People Are Powerful and Can Do Whatever They Want. I disagree with this statement. While famous people do have the power to influence the mind of masses, they can do precious little with their own life. Do you think Kim Kardashian could walk to a supermarket and buy herself some shampoo? Or do you think that Madonna could enjoy a walk on the beach without being hounded by pesky fans? In most cases, famous people have to watch their words and actions, more carefully than the average person. A slip of the tongue, a misunderstood phrase, or even a moment of vulnerability can destroy the image of the celebrity. We know of many celebrities who were completely shipwrecked after their alleged misdemeanor. Michael Jacksons life was destroyed after the scandal of sexual abuse of children. Lindsay Lohan went into oblivion after her drug and alcohol addiction. Tiger Woods lost his celebrity status after his alleged extramarital affairs with many women. Myth #5: Famous People Have Thousands of Important Friends. While you could say that famous people have important contacts,  they cannot be classified as friends. Would these important friends stand by you in your hour of need? Most of the time, famous people share a cordial relationship with other important people, only as long as they are of value. If you lose your celebrity status, most of those important friends will disappear from your life, because they have no use for you. Most celebrities have a symbiotic relationship with other celebrities. As long as there is a mutual give and take, the relationship exists. Why You Should Read These Quotes About Being Famous Imagine you are a celebrity. Every time you step out of your car, cameras go popping, and the paparazzi mob you. Now, imagine this to be an everyday affair. How does it feel being famous? Everyone enjoys a bit of fame, but the flip side of being famous can be daunting. Do celebrities enjoy being famous? Get to know what it takes to be a celebrity. Learn how the whos who of the world carry on with their celebrity status without feeling daunted. Here are 15 quotes that explore both sides of being famous.  These are quotes from celebrities who live under the scanner all the time. Jessica Alba: I dont need to be famous. Im not that ambitious. At this point, if Im not sucked in, Im never going to get sucked in. Being the so-called hot girl, I disconnect from that. Its not that deep. Britney Spears: Being famous is just a job. Carmen Electra: Honestly, in the beginning, it was really tough. Coming from Cincinnati, Ohio, I was just a girl who had a dream, which was to go to Los Angeles, have a career and to be able to support my family. To have a dream like that and, you know, youre not ready. Bob Marley: I handle fame by not being famous. Im not famous to me. Noel Gallagher: I like being famous. It can be a bit of a pain but you get free food in restaurants and people send you clothes. Elaine Page: I never enjoyed being famous. Britney Spears: The cool thing about being famous is traveling. I have always wanted to travel across seas, like to Canada and stuff. Michael Jordan: The good part about being famous is being able to help people. The hard part is every day you have to be in a good mood, because that is what people expect. You learn to get good at it. Wilma Rudolph: When I was going through my transition of being famous, I tried to ask God Why was I here? What was my purpose? Surely, it wasnt just to win three gold medals. There has to be more to this life than that. Ashton Kutcher: A lot of people cant deal with me being famous and shit, so they got themselves crossed off the party list, dog! Its a real drag sometimes, but I try not to let it affect me, you know? Annette Bening: Acting is not about being famous, its about exploring the human soul. Jeremy London: Ive never dreamed of being famous. The idea of it really scares me. Terry Wogan: Theres nothing to be said for being famous. Its a pain. You cant be rude to people - its inexcusable not to be nice. Anyway, its not in my nature. I was trained to be nice. Aaron Carter: My favorite thing about being famous... its not really as big of a deal as everybody says it is. Being on the road is tough, doing interviews, and all the stuff. Its still pretty tough. Sally Jessy Raphael: You go to school, you get a masters degree, you study Shakespeare and you wind up being famous for plastic glasses.