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Skeptical Debunker

A job, but there's a catch: a 1,000-mile commute - Yahoo! News - 0 views

  • "I like to say I gave up an eight-minute commute for an eight-hour commute," he says wearily, running a hand though salt-and-pepper hair as he watches his two sons play basketball for the first time this season. After the aging General Motors plant where he worked for 23 years was idled about a year ago, Hanley faced a Hobson's choice: Stay with his family and search for an autoworker's salary ($28 an hour) in a county where more than 40 percent of its manufacturing jobs disappeared from 2006 to 2009. Or hang on to his GM paycheck and health insurance and follow the job, no matter where it leads. In his case, it led to Fairfax, Kan., the same place his brother and two brothers-in-law — also GM workers, and now his roommates — landed. For others, it has been Indiana or Texas. The long commute is not just a story of hard times, tough choices and a shrinking American auto industry. It's also a case study of what happens when an aging industrial town loses an anchor, when workers too old to start over and too young to retire are caught in a squeeze and when economic survival means one family, but two far-flung ZIP codes.
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    In the early dawn, after another week building cars, Michael Hanley leaves his job in Kansas. He quickly zips into Missouri, then heads up a ribbon of highway past grain silos and grazing deer, across the frozen fields of Iowa, over the Mississippi River and into the rolling hills of Wisconsin. Finally, he pulls into his driveway - 530 miles later. It's one heck of a haul: more than 1,000 miles roundtrip, 16-plus hours of driving, every week.
Skeptical Debunker

NYT: Many polluters escape prosecution - The New York Times- msnbc.com - 0 views

  • Thousands of the nation’s largest water polluters are outside the Clean Water Act’s reach because the Supreme Court has left uncertain which waterways are protected by that law, according to interviews with regulators. As a result, some businesses are declaring that the law no longer applies to them. And pollution rates are rising. Companies that have spilled oil, carcinogens and dangerous bacteria into lakes, rivers and other waters are not being prosecuted, according to Environmental Protection Agency regulators working on those cases, who estimate that more than 1,500 major pollution investigations have been discontinued or shelved in the last four years. Story continues below ↓advertisement | your ad heredap('&PG=NBCMSN&AP=1089','300','250');The Clean Water Act was intended to end dangerous water pollution by regulating every major polluter. But today, regulators may be unable to prosecute as many as half of the nation’s largest known polluters because officials lack jurisdiction or because proving jurisdiction would be overwhelmingly difficult or time consuming, according to midlevel officials.
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    The best "justice" money can buy via packing the Supreme Court with "conservatives" is bearing smelly, polluted fruit. Specifically, those "conservatives" are showing themselves to be "activist judges" in "watering down" conservation and public safety laws passed by Congress. Polluting "business" entities are apparently NOT to be considered to be within the oft-quoted and loved "conservative" limitation of the purview of the federal government to merely protect the populace from "enemies foreign and domestic". That this pollution kills and injures thousands (and poisons the environment for the countless of the "unborn") apparently doesn't matter (but if Al Qaeda was doing it, then complete suspension of all domestic rights would be justified to "fight" that!). Pictured: In 2007, a pipe maker was fined millions of dollars for dumping oil, lead and zinc into Avondale Creek in Alabama. A court ruled the waterway was exempt from the Clean Water Act. The firm eventually settled by agreeing to pay a smaller amount and submit to probation.
Skeptical Debunker

In Past Decade, American Funds Created Most Wealth - Yahoo! News - 0 views

  • Morningstar determined that Janus and Putnam were the two largest "wealth destroyers" during the decade, losing $58 billion and $46 billion, respectively. "Janus and Putnam rode the growth wave more than anyone else," Kinnel says. "They had some very aggressive funds that put up big numbers that got huge inflows." After the tech bubble burst, the funds that were most heavily invested in these types of holdings experienced huge sell-offs, which made it difficult for these funds to attract inflows through the remainder of the decade. According to Morningstar, American Funds created about $191 million in wealth for investors during the decade, followed by Vanguard and Fidelity. Since American Funds generally employs a more value-oriented strategy, the firm was largely able to avert the first bear market of the decade. "The 2000 to 2002 bear market was all growth and tech, and American barely touched that, whereas they had lots of value, dividend payers, and bonds, which did very well," Kinnel says. Recently, the tables have turned for American. In 2009, it lost the most of any fund family (more than $25 billion). No fund family, including American, was able to avoid the bear market of 2008. The same strategy that allowed American to bypass most of the first bear market failed because many well-known dividend-paying companies, like big financial firms, experienced huge losses.
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    In a decade with two bear markets and lackluster returns for many investors, American Funds created the most wealth for investors, while Janus destroyed the most wealth, according to a survey released by Morningstar. For the survey, Morningstar looked at the 50 largest mutual fund families and their total net assets at the end of 1999. Then the fund tracker subtracted each fund company's total cash flows over the decade and deducted their total net assets at the end of 2009. Numbers were calculated in dollar terms so that any funds that were liquidated during the decade would also be included.
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    Get this! Mutual funds, where most American's have their 401Ks, IRAs, and retirement savings, performed pitifully in the "great economy" of the 2000's (brought to you by Republican deregulationists starting with Ronald Reagan). The "best" made $191 million (but lost $25 billion in 2009!), the worst lost around $50 billion! What a great way to transfer all that hard earned savings, mostly by the "little guy", from them to the Wall Street gamblers. Another socialistic Republican "redistribution of wealth" of the corporate criminal rich, by the corporate criminal rich, and for the corporate criminal rich.
Yee Sian Ng

The End of History - 0 views

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    "And yet, all of these people sense dimly that there is some larger process at work, a process that gives coherence and order to the daily headlines. the twentieth century saw the developed world descend into a paroxysm of ideological violence, as liberalism contended first with the remnants of absolutism, then bolshevism and fascism, and finally an updated Marxism that threatened  to lead to  the ultimate apocalypse of nuclear war.  But the century that began full of self-confidence in the ultimate triumph of Western  liberal democracy seems at its close to be returning full circle to where it started: not to an "end of ideology" or a convergence between capitalism and socialism, as earlier predicted, but to an unabashed victory of economic and political liberalism."
thinkahol *

Weekly Review-By Anthony Lydgate (Harper's Magazine) - 0 views

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    After eating a bowl of oatmeal and drafting ten talking points, Senator Bernie Sanders (Ind., Vt.) spoke for nine hours in opposition to the tax-cut deal struck between President Obama and congressional Republicans. "We should be embarrassed," he said, "that we are for one second talking about a proposal that gives tax breaks to billionaires while we are ignoring the needs of working families, low-income people and the middle class."1 2 3 Mark Madoff, son of Bernard L. Madoff, hanged himself in his Manhattan apartment while his toddler slept in a nearby bedroom; court documents filed last year suggest that Mark Madoff made almost $67 million through his father's Ponzi scheme.4 WikiLeaks founder Julian Assange was arrested in London on charges of sexual assault. "That sounds like good news to me," said U.S. Defense Secretary Robert Gates.5 State Department cables leaked this week revealed that Saudi media executives, over coffee in a Jeddah Starbucks, extolled the power of American television in the fight against Islamic extremism, while Saudi diplomats expressed their admiration for the movies Insomnia and Michael Clayton.6 Taymour Abdelwahab, a Swedish citizen, set off a car bomb and then blew himself up in Stockholm on Saturday, injuring two in what authorities believe was a botched attempt at a larger attack, and imprisoned Chinese dissident Liu Xiaobo was awarded the Nobel Peace Prize. Online discussion of the chair symbolizing his absence from the ceremony in Oslo prompted authorities in China to censor the phrases "empty chair," "empty seat," "empty stool" and "empty table" from the country's major social networking sites.7 8 9
thinkahol *

The American Dream | Watch Free Documentary Online - 0 views

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    The American Dream is a 30 minute animated film that shows you how you've been scammed by the most basic elements of the government system. From the author: All of us Americans strive for the American Dream, and this film shows you why your dream is getting farther and farther away. Do you know how your money is created? Or how banking works? Why did housing prices skyrocket and then plunge? Do you really know what the Federal Reserve System is and how it affects you every single day? The American Dream takes an entertaining but hard hitting look at how the problems we have today are nothing new, and why leaders throughout our history have warned us and fought against the current type of financial system we have in America today. You will be challenged to investigate some very entrenched and powerful institutions in this nation, and hopefully encouraged to help get our nation back on track.
thinkahol *

Fading optimism in "new normal" America | Analysis & Opinion | - 0 views

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    Optimism is so deeply embedded in the American national psyche that it withstood the Great Depression in the 1930s and a string of recessions since then. But in the era some economists call "the new normal" in America, optimism is fading.
Sarah Eeee

Income Inequality and the 'Superstar Effect' - NYTimes.com - 0 views

  • Yet the increasingly outsize rewards accruing to the nation’s elite clutch of superstars threaten to gum up this incentive mechanism. If only a very lucky few can aspire to a big reward, most workers are likely to conclude that it is not worth the effort to try.
  • It is true that the nation grew quite fast as inequality soared over the last three decades. Since 1980, the country’s gross domestic product per person has increased about 69 percent, even as the share of income accruing to the richest 1 percent of the population jumped to 36 percent from 22 percent. But the economy grew even faster — 83 percent per capita — from 1951 to 1980, when inequality declined when measured as the share of national income going to the very top of the population.
  • The cost for this tonic seems to be a drastic decline in Americans’ economic mobility. Since 1980, the weekly wage of the average worker on the factory floor has increased little more than 3 percent, after inflation. The United States is the rich country with the most skewed income distribution. According to the Organization for Economic Cooperation and Development, the average earnings of the richest 10 percent of Americans are 16 times those for the 10 percent at the bottom of the pile. That compares with a multiple of 8 in Britain and 5 in Sweden.
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  • Not coincidentally, Americans are less economically mobile than people in other developed countries. There is a 42 percent chance that the son of an American man in the bottom fifth of the income distribution will be stuck in the same economic slot. The equivalent odds for a British man are 30 percent, and 25 percent for a Swede.
  • Just as technology gave pop stars a bigger fan base that could buy their CDs, download their singles and snap up their concert tickets, the combination of information technology and deregulation gave bankers an unprecedented opportunity to reap huge rewards. Investors piled into the top-rated funds that generated the highest returns. Rewards flowed in abundance to the most “productive” financiers, those that took the bigger risks and generated the biggest profits. Finance wasn’t always so richly paid. Financiers had a great time in the early decades of the 20th century: from 1909 to the mid-1930s, they typically made about 50 percent to 60 percent more than workers in other industries. But the stock market collapse of 1929 and the Great Depression changed all that. In 1934, corporate profits in the financial sector shrank to $236 million, one-eighth what they were five years earlier. Wages followed. From 1950 through about 1980, bankers and insurers made only 10 percent more than workers outside of finance, on average.
  • Then, in the 1980s, the Reagan administration unleashed a surge of deregulation. By 1999, the Glass-Steagall Act lay repealed. Banks could commingle with insurance companies at will. Ceilings on interest rates vanished. Banks could open branches anywhere. Unsurprisingly, the most highly educated returned to banking and finance. By 2005, the share of workers in the finance industry with a college education exceeded that of other industries by nearly 20 percentage points. By 2006, pay in the financial sector was again 70 percent higher than wages elsewhere in the private sector. A third of the 2009 Princeton graduates who got jobs after graduation went into finance; 6.3 percent took jobs in government.
  • Then the financial industry blew up, taking out a good chunk of the world economy. Finance will not be tamed by tweaking the way bankers are paid. But bankers’ pay could be structured to discourage wanton risk taking
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    (Part 2 of 2 - see first part below) What impact do the incredible salaries of superstars have on the rest of us? What has changed, technologically and socially, to precipitate these inequities? This article also offers a brief look at the relationship between income inequality and economic growth, comparing the US throughout its history and the US vis a vis several European countries.
Aleena Smith

Nokia and Microsoft proclaim 'broad strategic partnership' - 0 views

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    Astonished? Then you have not been attentive. It is been a week of Nokia-related conjecture, mainly happening from a seep out note in which CEO of Nokia Mr. Stephen Elop, who previously effort at Microsoft, contrasted the current predicament of company to a "ablaze platform".
Aleena Smith

Valentines Day Gift Ideas 2011: - 0 views

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    Now if you are in the near the beginning phases of an associations or you immediately crave to allow an important person be acquainted with your paying attention then you absolutely should not propel your proposed person of curiosity an luxurious or also ahead a present.
thinkahol *

Cairo to Madison: Hope and Solidarity - 0 views

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    Egyptian engineer Muhammad Saladin Nusair, the one whose photo supporting Wisconsin workers went viral, now has thousands of new American Facebook friends. He wrote in his blog that many of his new friends were surprised by his gesture of solidarity, but he was taught that "we live in ONE world and under the same sky." "If a human being doesn't feel the pain of his fellow human beings, then everything we've created and established since the very beginning of existence is in great danger," Muhammad wrote. "We shouldn't let borders and differences separate us. We were made different to complete each other, to integrate and live together. One world, one pain, one humanity, one hope."
thinkahol *

Who Rules America: Wealth, Income, and Power - 0 views

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    This document presents details on the wealth and income distributions in the United States, and explains how we use these two distributions as power indicators. Some of the information may come as a surprise to many people. In fact, I know it will be a surprise and then some, because of a recent study (Norton & Ariely, 2010) showing that most Americans (high income or low income, female or male, young or old, Republican or Democrat) have no idea just how concentrated the wealth distribution actually is. More on that a bit later.
thinkahol *

The military/media attacks on the Hastings article - Glenn Greenwald - Salon.com - 0 views

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    Last June, when Rolling Stone published Michael Hastings' article which ended the career of Obama's Afghanistan commander, Gen. Stanley McChrystal -- an article which was just awarded the prestigious Polk Award -- the attacks on Hastings were led not by military officials but by some of Hastings' most celebrated journalistic colleagues.  The New York Times' John Burns fretted that the article "has impacted, and will impact so adversely, on what had been pretty good military/media relations" and accused Hastings of violating "a kind of trust" which war reporters "build up" with war Generals; Politico observed that a "beat reporter" -- unlike the freelancing Hastings -- "would not risk burning bridges by publishing many of McChrystal's remarks"; and an obviously angry Lara Logan of CBS News strongly insinuated (with no evidence) that Hastings had lied about whether the comments were on-the-record and then infamously sneered:  "Michael Hastings has never served his country the way McChrystal has."  Here's Jon Stewart last year mocking the revealing media disdain for Rolling Stone and Hastings in the wake of their McChrystal story.
thinkahol *

Texas, Budget Cuts and Children - NYTimes.com - 0 views

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    And who will bear the brunt of these cuts? America's children. Now, politicians - and especially, in my experience, conservative politicians - always claim to be deeply concerned about the nation's children. Back during the 2000 campaign, then-candidate George W. Bush, touting the "Texas miracle" of dramatically lower dropout rates, declared that he wanted to be the "education president." Today, advocates of big spending cuts often claim that their greatest concern is the burden of debt our children will face. In practice, however, when advocates of lower spending get a chance to put their ideas into practice, the burden always seems to fall disproportionately on those very children they claim to hold so dear. Consider, as a case in point, what's happening in Texas, which more and more seems to be where America's political future happens first.
thinkahol *

America Is NOT Broke - 0 views

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    America is not broke. Contrary to what those in power would like you to believe so that you'll give up your pension, cut your wages, and settle for the life your great-grandparents had, America is not broke. Not by a long shot. The country is awash in wealth and cash. It's just that it's not in your hands. It has been transferred, in the greatest heist in history, from the workers and consumers to the banks and the portfolios of the uber-rich. Today just 400 Americans have more wealth than half of all Americans combined. Let me say that again. 400 obscenely rich people, most of whom benefited in some way from the multi-trillion dollar taxpayer "bailout" of 2008, now have more loot, stock and property than the assets of 155 million Americans combined. If you can't bring yourself to call that a financial coup d'état, then you are simply not being honest about what you know in your heart to be true.
thinkahol *

Bin Laden's Death: Much More to Say - 0 views

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    After the assassination of bin Laden I received such a deluge of requests for comment that I was unable to respond individually, and on May 4 and later I sent an unedited form response instead, not intending for it to be posted, and expecting to write it up more fully and carefully later on. But it was posted, then circulated. It can now be found, reposted, here.  That was followed by a deluge of reactions from all over the world. It is far from a scientific sample of course, but nevertheless, the tendencies may be of some interest. Overwhelmingly, those from the "third world" were on the order of "thanks for saying what we think." There were similar ones from the US, but many others were infuriated, often virtually hysterical, with almost no relation to the actual content of the posted form letter. That was true in particular of the posted or published responses brought to my attention. I have received a few requests to comment on several of these. Frankly, it seems to me superfluous. If there is any interest, I'll nevertheless find some time to do so.  The original letter ends with the comment that "There is much more to say, but even the most obvious and elementary facts should provide us with a good deal to think about." Here I will fill in some of the gaps, leaving the original otherwise unchanged in all essentials.  Noam Chomsky  May 2011
thinkahol *

Petition: End Limited Liability (and Save the World) | Change.org - 0 views

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    Democrat or Republican, Libertarian or Socialist, politically active and not we are reaping the bitter reward of a political and legal system designed to maximize corporate profits at the expense of our environment, our livelihood, and our very lives. Our society is unraveling. We all know this. This is not idle conspiracy theory. These are well established facts. We are ruled by a headless beast that is no longer accountable to us. That it is headless makes it no less beastly. But there is a silver bullet. It's within our power to restore a functioning free market; to take back our democracy. We must end limited liability for corporations. Only when wealthy investors are no longer shielded from the costs that we collectively bear in their stead, only when they can no longer hide from the burden they have placed on us, only then can we expect the end of corporate plunder.   We are running out of time. Millions of Germans lost faith in the free market and capitalism during the Great Depression, and "with the failure of the left to provide a viable alternative, they became vulnerable to the rhetoric of a party that, once it came to power, combined Keynesian pump-priming measures that brought unemployment down to 3 percent with a devastating counterrevolutionary social and cultural program."
thinkahol *

SWAT team launch dawn raid on family home to collect woman's unpaid student loans | Mai... - 0 views

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    A father was dragged from his home and handcuffed in front of his children by a SWAT team looking for his estranged wife - to collect her unpaid student loans. A stunned Kenneth Wright had his front door kicked in by the raiding party at 6 am yesterday before being dragged onto his front porch, handcuffed and led to a police car with his three children. He says he was then detained for six hours while officers looked for his wife - who no longer lives at the house. Scroll down for video
thinkahol *

A Road Map to Economic Armageddon - Book Review - Truthdig - 0 views

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    By John B. Taylor This review is from a syndication service of The Washington Post. In "Reckless Endangerment," Gretchen Morgenson and Joshua Rosner argue that cozy connections between government and the financial industry were the primary cause of the financial crisis. While many economists-including this reviewer-have argued that government actions caused the crisis, Morgenson and Rosner use their investigative skills to dig down and explain why those actions were taken. The book focuses on two government agencies, Fannie Mae and the Federal Reserve. The mutual support system is better explained and documented in the case of Fannie, the government-sponsored enterprise that supported the home mortgage market by buying mortgages and packaging them into marketable securities, which it then guaranteed and sold to investors.
thinkahol *

How the U.S. government uses its media servants to attack real journalism - Glenn Green... - 0 views

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    A vital investigative report by Jeremy Scahill is first ignored, and then maligned, by subservient media outlets
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