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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.
thinkahol *

Dean Baker: Attack Wall Street, Not Social Security - 0 views

  • On the other hand, it is easy to show that if we contain health care costs then our budget problems are relatively minor. In fact, the current projections of enormous budget deficits two or three decades out would flip over to projections of enormous budget surpluses if our health care costs were comparable to those of any other wealthy country.
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    This is essentially the story of the latest attack on social security. Everyone who looks at the projections agrees; the scary budget stories being hyped in the media and by the Wall Street crew are driven almost entirely by projections of exploding health care costs. But instead of proposing ways to fix the health care system, these deficit hawks want to attack social security. They tell us that fixing health care is hard. By contrast they think that cutting money from social security will be relatively easy. The facts on this are straightforward and known by everyone involved in the budget debate. The US health care system is broken. We pay more than twice as much per person as the average for other wealthy countries. And it is projected to get worse. In three or four decades we are projected to pay three or four times as much per person for health care as people in countries like Germany and Canada. Since more than half of our health care is paid through public sector programs like Medicare and Medicaid, this explosion in health care costs will bankrupt the government if it actually occurs. Of course it will also devastate the private sector. On the other hand, it is easy to show that if we contain health care costs then our budget problems are relatively minor. In fact, the current projections of enormous budget deficits two or three decades out would flip over to projections of enormous budget surpluses if our health care costs were comparable to those of any other wealthy country.
thinkahol *

Armed Chinese Troops in Texas! - YouTube - 0 views

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    NOTE: It is important to separate hunting down terrorists who attack our country and deserve justice (which Ron Paul is 100% for), and not confuse justice with occupying entire countries for a decade under the guise of the "War on Terror" or "Spreading Democracy". Terrorists are individuals and small groups, so why are we picking fights with entire nations? BILLIONS for Defense, NOT A PENNY for Empire. This speech is called "Imagine" and it was given by Ron Paul on March 11, 2009. The original text of the talk is below: Imagine for a moment that somewhere in the middle of Texas there was a large foreign military base, say Chinese or Russian. Imagine that thousands of armed foreign troops were constantly patrolling American streets in military vehicles. Imagine they were here under the auspices of "keeping us safe" or "promoting democracy" or "protecting their strategic interests." Imagine that they operated outside of US law, and that the Constitution did not apply to them. Imagine that every now and then they made mistakes or acted on bad information and accidentally killed or terrorized innocent Americans, including women and children, most of the time with little to no repercussions or consequences. Imagine that they set up checkpoints on our soil and routinely searched and ransacked entire neighborhoods of homes. Imagine if Americans were fearful of these foreign troops, and overwhelmingly thought America would be better off without their presence. Imagine if some Americans were so angry about them being in Texas that they actually joined together to fight them off, in defense of our soil and sovereignty, because leadership in government refused or were unable to do so. Imagine that those Americans were labeled terrorists or insurgents for their defensive actions, and routinely killed, or captured and tortured by the foreign troops on our land. Imagine that the occupiers' attitude was that if they just killed enough Americans, the resistance would stop, but inst
thinkahol *

Elections and ideology: Liberals, planning and trains | The Economist - 0 views

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    Fundamentally, without major government commitments to high-speed rail, America simply will not have a high-speed passenger rail network. This should probably be discomfiting, since every other economic superpower (the EU, Japan and China) does have a high-speed rail network. That makes America look a bit backward. The time horizon for building such a network is several decades, and it's interesting to think about what will happen in the middle decades of this century if air transport becomes unaffordable due to high fuel costs and America doesn't have an electric alternative for high-speed intercity transit.
thinkahol *

The Best Of Times | ThinkProgress - 0 views

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    One the oddities about the current economic doldrums afflicting the developed world is that if you look at the global average, this is almost certainly the best time to be alive in human history. Not only have we seen rapid per capita GDP growth in many poor countries, but even in countries that haven't gotten richer major development progress has occurred. Last, but by no means least, the world is getting much less violent: In fact, the last decade has seen fewer war deaths than any decade in the past 100 years, based on data compiled by researchers Bethany Lacina and Nils Petter Gleditsch of the Peace Research Institute Oslo. Worldwide, deaths caused directly by war-related violence in the new century have averaged about 55,000 per year, just over half of what they were in the 1990s (100,000 a year), a third of what they were during the Cold War (180,000 a year from 1950 to 1989), and a hundredth of what they were in World War II. If you factor in the growing global population, which has nearly quadrupled in the last century, the decrease is even sharper. Far from being an age of killer anarchy, the 20 years since the Cold War ended have been an era of rapid progress toward peace. This is major good news.
thinkahol *

The Decade Of Magical Thinking - The Rumpus.net - 0 views

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    A Rumpus Lamentation on What We Lost Say you took the long view of September 11, 2001, the view from the heavens, the view of a compassionate celestial being. From up there, you'd see that approximately 150,000 earthlings died that day. Most of these deaths were caused by malnutrition and age-related illnesses, roughly 1500 were murders, hundreds more were due to civil wars. Also, 2,977 Americans were killed in terrorist attacks on New York City and Washington. *** A lot of human beings died, that's my point. They all left behind mourners. Imagine the mother who watched her child die of hunger. Here's this tiny person, a daughter. She has a name, a face. She doesn't explode or fall from a skyscraper. She simply stops breathing. No cameras record her final moment, the lamentation of that mother. These images are not replayed on the television over and over and over. What would be the point of that? *** I recently went on a radio program to discuss the literature of 9/11. The host spent most of the hour chatting with people about their memories. They all talked about watching television. They were telling personal stories about watching television.
Muslim Academy

Will peace ever be restored in the northern areas of Pakistan - 0 views

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    Northern areas of Pakistan For a decade, the northern areas of Pakistan have been under terrorism. The whole area was destroyed by terrorism and then the 2005 disastrous earthquake almost destroyed the northern area of Pakistan. At first, the innocent residents of northern Pakistan were under the terrorism of the Taliban and Al Qaeda; now, they are in the fear of the U.S. drone attacks. After the event of 9/11, the world has been completely changed, the western world, especially the U.S., has been hostile to countries like Pakistan, Afghanistan, Iran and Iraq. Will peace ever be restored in the northern areas of Pakistan? The northern area of Pakistan was under the invasion of the Taliban. The Taliban had taken over the area and enforced many severe laws. Girls were banned from acquiring education, girls' educational institutions were destroyed completely, and women were banned from earning a living. Women were also not allowed to go out of the house unnecessarily, if the situation occurs that they have to, they should be accompanied by male Mahram. If a female was caught alone in the street, then she was severely punished. A couple of years ago, a mobile phone recorded video was released in which the Taliban was spanking a girl with a leather belt in front of everyone. The girl was caught in the street with her father in law. The Pakistani Army conducted various operations in the areas and killed most of the Taliban and brought many areas back to peace.
Muslim Academy

burma today-What is Happening Now - 0 views

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    In the midst of fast-moving events in Syria and in the shadows of tyranny, oppression, lethality and massacres practiced by the Syrian regime, the Nation of Islam has been stabbed once again. Another waterfall of Muslim blood has been shed without any humanity. These stabs have been hurting the Muslim nation often and raise many questions about our disbanding and enemy's plots and plans from all sides. In the past weeks, Muslim advocates have been exposed to a gruesome massacre after being attacked by a Buddhist group that killed many Muslims. The media have posted terrible images of the victims of this massacre. The Myanmar government turned a blind eye, and it seems that they agree with the criminal killers. Things did not stop at this massacre but transcended to burn homes and farms of a large number of Muslims and killed dozens by fire. All this happened with the help of police junta Buddhism. On July 10, 2012 a curfew was imposed on villages that was inhabited by the Muslim minority, then the Buddhist groups covered by the Myanmar government started a campaign of ethnic cleansing and religious preference that killed 100 Muslims and injured about 300 people and burned nearly a thousand homes. Also, in this awful campaign they have been targeting scientists, doctors and intellectuals. Away from these events and tension, the main thing that everyone knows is that the Muslims there have been suffering for decades from the oppression and persecution of Buddhists via systematic violations. The group of Buddhists are committed against the Muslims there at different intervals, and force displacement, removal of citizenship, and the sophistication in the torture and "ethnic cleansing." Unjust arrests and the demolition of mosques and Islamic schools have deprived Muslims from the lowest human rights.
thinkahol *

Why Big Media Is Going Nuclear Against The DMCA | TechCrunch - 0 views

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    When Congress updated copyright laws and passed the Digital Millennium Copyright Act (DMCA) in 1998, it ushered an era of investment, innovation and job creation.  In the decade since, companies like Google, YouTube and Twitter have emerged thanks to the Act, but in the process, they have disrupted the business models and revenue streams of traditional media companies (TMCs).  Today, the TMCs are trying to fast-track a couple of bills in the House and Congress to reverse all of that. Through their lobbyists in Washington, D.C., media companies are trying to rewrite the DMCA through two new bills.  The content industry's lobbyists have forged ahead without any input from the technology industry, the one in the Senate is called Protect IP and the one in the House is called E-Parasites.  The E-Parasite law would kill the safe harbors of the DMCA and allow traditional media companies to attack emerging technology companies by cutting off their ability to transact and collect revenue, sort of what happened to Wikileaks, if you will.  This would scare VCs from investing in such tech firms, which in turn would destroy job creation. The technology industry is understandably alarmed by its implications, which include automatic blacklists for any site issued a takedown notice by copyright holders that would extend to payment providers and even search engines.   What is going on and how exactly did we get here?
thinkahol *

Rules of America's rule of law - Glenn Greenwald - Salon.com - 0 views

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    * If you torture people or eavesdrop on Americans without the warrants required by the criminal law, you receive Look-Forward Imperial Immunity. * If you shoot and kill unarmed rescuers of the wounded while occupying their country and severely wound their unarmed children sitting in a van -- or if you authorize that conduct -- your actions are commended. * If you help wreck the world economy with fraud and cause hundreds of millions of people untold suffering, you collect tens of millions of dollars in bonuses. * If you disclose to the world evidence of war crimes, government lawbreaking, or serious corruption, or otherwise embarrass the U.S., you will be swiftly prosecuted to the fullest extent of the law and face decades in prison.
thinkahol *

We shop until Chinese workers drop : Johann Hari - 0 views

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    Over the past decade, an old word once used in the Maoist gulags has come back to China. It is "gulaosi" - and it is used to describe the men and women who are literally being worked to death producing clothes, electronics and toys for you and me.
thinkahol *

Cato Unbound » Blog Archive » The Digital Surveillance State: Vast, Secret, a... - 0 views

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    It is unsurprising that the 9/11 attack fostered a massive expansion of America's already sprawling Surveillance State. But what is surprising, or at least far less understandable, is that this growth shows no signs of abating even as we approach almost a full decade of emotional and temporal distance from that event. The spate of knee-jerk legislative expansions in the immediate aftermath of the 9/11 trauma - the USA-PATRIOT Act - has actually been exceeded by the expansions of the last several years - first secretly and lawlessly by the Bush administration, and then legislatively and out in the open once Democrats took over control of the Congress in 2006. Simply put, there is no surveillance power too intrusive or unaccountable for our political class provided the word "terrorism" is invoked to "justify" those powers.
thinkahol *

FDL Book Salon Welcomes Bruce Fein, American Empire Before the Fall | Book Salon - 0 views

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    There's no doubting the conservative bona fides of Bruce Fein. A high-level Justice Department lawyer in the Reagan administration in the 1980s and previously a resident scholar with the Heritage Foundation, he is a long-time advocate for uncompromising right-wing political principles. Yet paradoxically, Fein has been, and remains, one of the most eloquent and incisive political voices over the last decade. He was one of the earliest and most emphatic critics of Bush and Cheney's radical abuses of executive power. Two weeks after The New York Times revealed in December, 2005, that Bush had ordered the NSA to illegally eavesdrop on Americans without the warrants required by law, Fein used his column in the right-wing Washington Times to warn that "Mr. Bush has adamantly refused to acknowledge any constitutional limitations on his power to wage war indefinitely"; to scorn as "war powers nonsense" the theories assembled "to defend Mr.
thinkahol *

More Tax Cuts for the Rich? No Way! -- 6 Key Points About the Tax Debate Raging in Wash... - 0 views

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    Extending Bush's tax cuts for the rich over the next decades is just a terrible idea, and will do nothing to stimulate the economy.
thinkahol *

How Corporations Buy Congress | BuzzFlash.org - 0 views

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    With the November elections quickly approaching, the majority of  Americans will be thinking one thing: "Who cares?" This apathy isn't due  to ignorance, as some accuse. Rather, working people's disinterest in  the two party system implies intelligence: millions of people understand  that both the Democrats and Republicans will not represent their  interests in Congress.  This begs the question: Whom does the two party system work for? The  answer was recently given by the mainstream The New York Times, who  gave the nation an insiders peek on how corporations "lobby" (buy)  congressmen. The article explains how giant corporations - from  Wall-mart to weapons manufacturers - are planning on shifting their  hiring practices for lobbyists, from Democratic to Republican  ex-congressmen in preparation for the Republicans gaining seats in the  upcoming November elections: "Lobbyists, political consultants and recruiters all say that the  going rate for Republicans - particularly current and former House staff  members - has risen significantly in just the last few weeks, with  salaries beginning at $300,000 and going as high as $1million for  private sector [corporate lobbyist] positions." (September 9, 2010) Congressmen who have recently retired make the perfect lobbyists:  they still have good friends in Congress, with many of these friends  owing them political favors; they have connections to foreign Presidents  and Kings; and they also have celebrity status that gives good PR to  the corporations. Often, these congressmen have done favors for the corporation that  is now hiring them, meaning, that the corporations are rewarding the  congressmen for services rendered while in office, offering them million  dollar lobbyist jobs (or seats on the corporate board of directors)  that requires little to no work.  The same New York Times article revealed that the pay for 13,000  lobbyists currently bribing Congress is a combined $3.5 bil
thinkahol *

Hedges Laments The 'Death Of The Liberal Class' : NPR - 0 views

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    Liberals have conceded the good fights -- organizing workers, preventing war, a greener economy -- to corporations and the ruling powers for decades, argues Chris Hedges. In his book, Death of the Liberal Class, Hedges slams groups and institutions from academia, to the church, to the Democratic par
thinkahol *

On the Death Sentence by John Paul Stevens | The New York Review of Books - 0 views

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    David Garland is a well-respected sociologist and legal scholar who taught courses on crime and punishment at the University of Edinburgh before relocating to the United States over a decade ago. His recent Peculiar Institution: America's Death Penalty in an Age of Abolition is the product of his attempt to learn "why the United States is such an outlier in the severity of its criminal sentencing." Thus, while the book primarily concerns the death penalty, it also illuminates the broader, dramatic differences between American and Western European prison sentences.
thinkahol *

Hans Rosling: The good news of the decade? | Video on TED.com - 0 views

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    TED Talks Hans Rosling reframes 10 years of UN data with his spectacular visuals, lighting up an astonishing -- mostly unreported -- piece of front-page-worthy good news: We're winning the war against child mortality. Along the way, he debunks one flawed approach to stats that blots out such vital s
Skeptical Debunker

Unintended Acceleration Not Limited To Toyotas : NPR - 0 views

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    The dangerous problem of cars accelerating without a driver's input has put Toyota in the headlines - and brought the giant carmaker's executives to congressional hearings. But unintended acceleration has been a problem across the auto industry, according to an NPR analysis of consumer complaints to federal regulators. The NPR News investigation finds that other automakers have had high rates of complaints in some model years, including Volkswagen, Volvo and Honda - in some cases resolving the apparent problems through evolving technology and recalls. The analysis covers about 15,000 complaints filed over the past decade, covering cars back to the 1990 model year. The complaints were filed with the National Highway Transportation Safety Administration, which regulates auto safety.
Yee Sian Ng

Empathy in short supply: Greece: not a simple fable about ants and crickets | The Econo... - 0 views

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    "Real, live Germans are not heartless ants, and the Greeks are not broke because they are giddy crickets who sing their summers away. Greece is a grown-up country with grown-up problems: rough, tough politics, and a lot of recent history, not all of it very nice. And it is precisely that recent history, and rough politics, that are at the core of Greece's fiscal woes today. Take the painful question of the huge public sector, and all those civil servants with jobs for life, and unusually generous retirement packages. The existence of those jobs for life is not a cultural quirk, in which Greek officials simply like coffee and backgammon too much to do any work. It is the end result of a brutal, multi-decade power struggle between the left and the right: a struggle that got people killed within living memory."
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