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Skeptical Debunker

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

news.yahoo.com/...americanfundscreatedmostwealth

mutual funds wealth decade performance

shared by Skeptical Debunker on 07 Mar 10 - Cached
  • 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.
  • Skeptical Debunker on 07 Mar 10
     
    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.
  • Skeptical Debunker on 07 Mar 10
     
    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 *

YouTube - Ralph Nader: 1/13 An Unreasonable Man Subt Español - 0 views

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YouTube - Ralph Nader: 1_13 An Unreasonable Man Subt Español

shared by thinkahol * on 12 May 11 - No Cached
  • thinkahol * on 12 May 11
     
    In 1966, General Motors, the most powerful corporation in the world, sent private investigators to dig up dirt on an obscure thirty-two year old public interest lawyer named Ralph Nader, who had written a book critical of one of their cars, the Corvair. The scandal that ensued after the smear campaign was revealed launched Ralph Nader into national prominence and established him as one of the most admired Americans and the leader of the modern Consumer Movement. Over the next thirty years and without ever holding public office, Nader built a legislative record that is the rival of any contemporary president. Many things we take for granted including seat belts, airbags, product labeling, no nukes, even the free ticket you get after being bumped from an overbooked flight are largely due to the efforts of Ralph Nader and his citizen groups. Yet today, when most people hear the name "Ralph Nader," they think of the man who gave the country George W. Bush. As a result, after sustaining his popularity and effectiveness over an unprecedented amount of time, he has become a pariah even among former friends and allies. How did this happen? Is he really to blame for George W. Bush? Who has stuck by him and who has abandoned him? Has our democracy become a consumer fraud? After being so right for so many years, how did he seem to go so wrong? With the help of exciting graphics, rare archival footage and over forty on-camera interviews conducted over the past two years, "An Unreasonable Man" traces the life and career of Ralph Nader, one of the most unique, important, and controversial political figures of the past half century.
Skeptical Debunker

Rough Water - 0 views

www.earthisland.org/...roughwater

Klamath River dams agreement negotiation controversy protest violence

shared by Skeptical Debunker on 03 Mar 10 - Cached
  • For most of the last 1,500 years, the river supported a sustainable salmon economy. Salmon were at the heart of all the Klamath’s tribal cultures, and Indians were careful not to over-harvest them. Each summer, the lower Klamath’s Yurok and Hoopa tribes blocked the upstream paths of spawning salmon with barriers; then, after ten days of fishing, they removed the barriers, allowing upstream tribes to take their share. As the salmon completed their lifecycle, dying in the waters where they’d been spawned, they enriched the watershed with nutrients ingested during years in the ocean. Among the beneficiaries were at least 22 species of mammals and birds that eat salmon. Even the salmon carcasses that bears left behind on the riverbanks fertilized trees that provided shade along the river’s banks, cooling its waters so that the next generation of vulnerable juvenile salmon could survive. “We tried to go to court, to go through the political process, but it didn’t work. …The big issues were still out there, and we still had to resolve them.” Salmon’s biological family may have started in the age of dinosaurs a hundred million years ago. They’ve survived through heat waves and droughts, in rivers of varying flow, temperature, and nutrient load – but they were as ill-prepared for Europeans’ arrival as the Indians themselves. Gold miners who showed up in the mid-nineteenth century washed entire hillsides into the river with high-pressure hoses and scoured the river’s bed with dredges. Loggers dragged trees down streambeds, causing massive erosion, and dumped sawdust into the river, smothering incubating salmon eggs. Cattle grazed at the river’s edge, causing soil erosion and destroying shade-giving vegetation. Farmers diverted water to feed their crops. The dams were the crowning blows. Between 1908 and 1962, six dams were built on the Klamath. The tallest, the 173-foot-high Iron Gate, is the farthest downstream, and definitively blocked salmon from the river’s upper quarter – after it was built, the river’s salmon population plummeted. In addition, the dams devastated water quality by promoting thick growths of toxic algae in the reservoirs. For Klamath basin farmers, however, the dams were deemed indispensable, as they generated hydropower that made pumping of their irrigation water possible.To the farmers, the potential loss of the dams’ hydropower was considered no less crippling than an end to Klamath-supplied irrigation.
  • For most of the last century, the farmers were oblivious to the damage that dams and water diversions caused downstream, while the tribes and commercial fishermen quietly seethed. The annual salmon run, once so abundant that people caught fish with their hands, was roughly pegged at more than a million fish at its peak; in recent years it has dropped to perhaps 200,000 in good years, and as low as 12,000 – below the minimum believed necessary to sustain the runs – in bad years. Spring Chinook, which once comprised the river’s dominant salmon run, entirely disappeared. Two fish species – the Lost River sucker and the shortnose sucker – that once supported a commercial fishery, were listed as endangered in 1988. Coho salmon were listed as threatened nine years later. All this has had a devastating impact on the tribes. Traditionally able to sustain themselves throughout the year on seasonal migrations of the river’s salmon, trout, and candlefish, tribal members suffered greatly as the runs declined or went extinct. For four decades beginning in 1933, the tribes were barred from fishing the river even as commercial fishermen went unrestricted. Members of the Karuk tribe once consumed an estimated average of 450 pounds of salmon a year; a 2004 survey found that the average had dropped to five pounds a year. The survey linked salmon’s absence to epidemics of diabetes and heart disease that now plague the Karuk. The 2001 cutoff left farmers without irrigated water for the first time in the Klamath Project’s history. Over the next four months, many farmers performed repeated acts of civil disobedience, most notably when a bucket brigade passed pails of banned water from its lake storage to an irrigation canal while thousands of onlookers cheered. The protests attracted Christian-fundamentalist, anti-government, and property rights advocates from throughout the West; former Idaho Congresswoman Helen Chenoweth-Hage likened the farmers’ struggle to the American Revolution.
  • ...3 more annotations...
  • A year later, it was the tribes’ and fishermen’s turn to experience calamity. According to a Washington Post report, Vice President Dick Cheney ordered Interior Department officials to deliver Klamath water to Project farmers in 2002, even though federal law seemed to favor the fish. Interior Secretary Gale Norton herself opened the head gates launching the 2002 release of water to the Project, while approving farmers chanted, “Let the water flow!” Six months later, the carcasses of tens of thousands of Chinook and Coho salmon washed up on the riverbanks near the Klamath’s mouth, in what is considered the largest adult salmon die-off in the history of the American West. The immediate cause was a parasitic disease called ich, or “white spot disease,” commonly triggered when fish are overcrowded. Given the presence of an unusually large fall Chinook run in 2002 and a paucity of Klamath flow, the 2002 water diversion probably caused the die-off. Yurok representatives said that months earlier they begged government officials to release more water into the lower river to support the salmon, but were ignored. photo courtesy Earthjustice In 2002, low water levels on the Klamath led to the largest adult salmon die-off in the history of the American West. The die-off deprived many tribes-people of salmon and abruptly ended the river’s sport-fishing season, but its impact didn’t fully register until four years later, when the offspring of the prematurely deceased 2002 salmon would have made their spawning run. By then the Klamath stock was so depleted that the federal government placed 700 miles of Pacific Ocean coastline, from San Francisco to central Oregon, off limits to commercial salmon fishing for most of the 2006 fishing season. As a result, commercial ocean fishermen lost about $100 million in income, forcing many into bankruptcy. Even more devastating, a precipitous decline in Sacramento River salmon led to the cancellation of the entire Pacific salmon fishing season in both 2008 and 2009. The Klamath basin was in a permanent crisis. It turned out that desperation and frustration were perfect preconditions for negotiations. “Every one of us would have rolled the others if we could have,” Fletcher, the Yurok leader, says. “We all tried to go to court, to go through the political process, but it didn’t work – we might win one battle today and lose one tomorrow, so nothing was resolved. We spent millions of dollars on attorneys, plane tickets to Washington, political donations, but it didn’t make any of us sleep any better, because the big issues were still out there, and we still had to resolve them.”
  • In January 2008, the negotiators announced the first of two breakthrough Klamath pacts: the 255-page Klamath Basin Restoration Agreement. In it, most of the parties – farmers, three of the four tribes, a commercial fishermen’s group, seven federal and state agencies, and nine environmental groups – agreed to a basic plan. It includes measures to take down the four dams, divert some water from Project farmers to the river in return for guaranteeing the farmers’ right to a smaller amount, restore fisheries habitat, reintroduce salmon to the upper basin, develop renewable energy to make up for the loss of the dams, and support the Klamath Tribes of Oregon’s effort to regain some land lost when Congress “terminated” its reservation in 1962. This was a seminal moment, a genuine reconciliation among tribal and agricultural leaders who discovered that the hatred they’d nursed was unfounded. “Trust is the key,” says Kandra, the Project farmer who went from litigant to negotiator. “We took little baby steps, giving each other opportunities to build trust, and then we got to a place where we could have some really candid discussions, without screaming and yelling – it was like, ‘Here’s how I see the world.’ Pretty valuable stuff. The folks that developed those kinds of relationships got along pretty good.” Still, one crucial ingredient was missing: Unless PacifiCorp agreed to dismantle the dams, river restoration was impossible, and the pact was a well-intentioned, empty exercise. But PacifiCorp now had compelling reasons to consider dam removal. Not only was relicensing going to be expensive, but Klamath tribespeople were becoming an embarrassing irritant, in two consecutive years interrupting Berkshire Hathaway’s annual-meeting/Buffett-lovefests in Omaha with nonviolent protests that won media attention. Also, the Bush administration, customarily no friend of dam removal, signaled its support for a basin-wide agreement. Negotiations between PacifiCorp and mid-level government officials began in January 2008, but made little progress until a meeting in Shepherdstown, West Virginia four months later, when for the first time Senior Interior Department Counselor Michael Bogert presided. As Bogert recently explained, President Bush himself took an interest in the Klamath “because it was early on in his watch that the Klamath became almost a symbol” of river basin dysfunction. To Bush, the decision to support dam removal was a business decision, not an environmental one: The “game-changer,” Bogert said, was the realization that because of the high cost of relicensing, dam removal made good fiscal sense for PacifiCorp. That fact distinguished the Klamath from other dam removal controversies such as the battle over four dams on Idaho’s Snake River, whose removal the Bush administration continued to oppose.
  • In November 2008, when then-Interior Secretary Dirk Kempthorne announced a detailed agreement in principle with PacifiCorp to take down the dams, he acknowledged that he customarily opposed dam removal, but that the Klamath had taught him “to evaluate each situation on a case-by-case basis.” In September 2009, Kempthorne’s successor, Ken Salazar, announced that PacifiCorp and government officials had reached a final agreement. PacifiCorp and the many signers of the earlier Klamath Basin Restoration Agreement then ironed out inconsistencies between the two pacts in a final negotiation that ended with a final deal in January 2010.
  • Skeptical Debunker on 03 Mar 10
     
    Maybe the Klamath River basin would have turned itself around without Jeff Mitchell. Back in 2001, at the pinnacle of the conflict over the river's fate, when the Klamath earned its reputation as the most contentious river basin in the country, Mitchell planted a seed. Thanks to a drought and a resulting Interior Department decision to protect the river's endangered fish stocks, delivery of Klamath water to California and Oregon farmers was cut off mid-season, and they were livid. They blamed the Endangered Species Act, the federal government that enforced it, and the basin's salmon-centric Indians who considered irrigation a death sentence for their cultures. The basin divided up, farmers and ranchers on one side, Indians and commercial fishermen on the other. They sued one another, denounced one another in the press, and hired lobbyists to pass legislation undermining one another. Drunken goose-hunters discharged shotguns over the heads of Indians and shot up storefronts in the largely tribal town of Chiloquin, Oregon. An alcohol-fueled argument over water there prompted a white boy to kick in the head of a young Indian, killing him.
Skeptical Debunker

Ravitch Offers Passionate Defense of America's Public School System - March 2, 2010 - T... - 0 views

www.nysun.com/...86906

The Death and Life of the Great American School System book review

shared by Skeptical Debunker on 02 Mar 10 - Cached
  • No silver bullets. This is the simple premise of Diane Ravitch’s new book, “The Death and Life of the Great American School System,” which is being brought out this week by Basic Books. Written by one of our nation’s most respected scholars, it has been eagerly awaited. But it has also been, at least in some quarters, anticipated with a certain foreboding, because it was likely to debunk much of the conventional — and some not so conventional — wisdom surrounding education reform. Click Image to Enlarge
  • What of the once-great comprehensive high schools, institutions with history and in some cases a track record of success going back generations? As time moves on, it is fast becoming clear that the new small schools, many with inane themes (how about the School of Peace and Diversity?), can never substitute for a good neighborhood high school, which can become a center of communal life and pride. Ms. Ravitch’s report underscores the fact that the trick is to fix the neighborhood schools beset with problems, not destroy them.
  • It is not only the foundations that Ms. Ravitch blames for the current crisis: government has also failed in the attempt to reform the schools from above, lacking a clear perspective of how schools work on a day-to-day basis. Thus, the major federal initiative, No Child Left Behind, well intentioned as it may have been, ended up damaging the quality of education, not improving it. While the federal government declares schools as “failing” and prescribes sanctions for schools not meeting its goal of “annual yearly progress,” it is the states that are allowed to write and administer the tests. This has led to a culture of ever easier tests and more test preparation rather than real instruction. More ominously, it led to such scandals as the New York State Education Department lowering the “cut scores” that define the line between passing and failing. Ms. Ravitch suggests that the proper roles of the states and federal government have been reversed under NCLB. Maybe the standards for achievement should be set in Washington, which, after all, administers the National Assessment of Educational Progress , and the solutions found at the local level, using the accurate data provided by Washington. Instead of moving in a different direction from the failed NCLB model of the Bush Administration, the Obama administration has adopted and expanded on them.
  • ...1 more annotation...
  • Teacher-bashing, so in vogue among the “reformers” dominating the national discussion, is rejected by Mrs. Ravitch. How could the unions be responsible for so much failure when, she asks, traditionally, the highest scores in the nation are posted by strong union states such as Massachusetts (best results in the nation) and the lowest scores in the south, where unions are weak or non-existent? The mania for closing “failing” schools also comes under the Ravitch microscope. To her mind, closing schools should be reserved for the “most extreme cases.” Virtually alone among those discussing educational policy, Mrs. Ravitch appreciates the value of schools as neighborhood institutions. To her mind, closing schools “accelerates a sense of transiency and impermanence, while dismissing the values of continuity and tradition, which children, families and communities need as anchors in their lives.”
  • Skeptical Debunker on 02 Mar 10
     
    It turns out that "The Death and Life of the Great American School System" is a passionate defense of our nation's public schools, a national treasure that Ms. Ravitch believes is "intimately connected to our concepts of citizenship and democracy and to the promise of American life." She issues a warning against handing over educational policy decisions to private interests, and criticizes misguided government policies that have done more harm than good. Ideas such as choice, utilizing a "business model" structure, accountability based on standardized tests and others, some favored by the left, others by the right are deemed as less, often much less, than advertised. Ms. Ravitch doesn't oppose charters, but rather feels that the structure itself doesn't mandate success. As in conventional schools, there will be good ones and bad ones. But charters must not be allowed to cream off the best students, or avoid taking the most troubled, as has been alleged here in New York City. Here main point, however, is broader. "It is worth reflecting on the wisdom of allowing educational policy to be directed, or one might say, captured by private foundations," Ms. Ravitch notes. She suggests that there is "something fundamentally antidemocratic about relinquishing control of the public educational policy to private foundations run by society's wealthiest people." However well intended the effort, the results, in her telling, have not been impressive, in some cases doing more harm than good.
  • Skeptical Debunker on 02 Mar 10
     
    According to this CONSERVATIVE and BUSH Assistant Secretary of Education, "No Child Left Behind" is destroying one of the great social "glues" of America - its public school system. Of course, not only Bush and the Republicans are to blame, Democrats went along with NCLB on the "promise" of extra federal funding for implementing it AND supporting American public schools. That was funding that never materialized due to our other great national priority - making corporate cronies rich via the war in Iraq (and hoping to make the oil companies richer there as well, but apparently failing miserably to do so ... so far). NCLB could have been suspended when that happened, but strangely (NOT!) Bush and the Republican controlled Congress conveniently forgot their promise (perhaps because NCLB unfunded was more like no teachers union left un-destroyed!?). More from http://articles.latimes.com/2010/feb/28/entertainment/la-ca-diane-ravitch28-2010feb28 on this book - Diane Ravitch, probably this nation's most respected historian of education and long one of our most thoughtful educational conservatives, has changed her mind -- and changed it big time. Ravitch's critical guns are still firing, but now they're aimed at the forces of testing, accountability and educational markets, forces for which she was once a leading proponent and strategist. As President Obama and his education secretary, Arne Duncan, embrace charter schools and testing, picking up just where, in her opinion, the George W. Bush administration left off, "The Death and Life of the Great American School System" may yet inspire a lot of high-level rethinking. The book, titled to echo Jane Jacobs' 1961 demolition of grandiose urban planning schemes, "The Death and Life of Great American Cities," has similarly dark warnings and equally grand ambitions. Ravitch -- the author of "Left Back" and other critiques of liberal school reforms, an assistant secretary of education in the first Bush administration and a
thinkahol *

Armed Chinese Troops in Texas! - YouTube - 0 views

www.youtube.com/watch

Armed Chinese Troops in Texas! - YouTube

shared by thinkahol * on 05 Jan 12 - No Cached
  • thinkahol * on 05 Jan 12
     
    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 *

GMF - The Copenhagen Consensus: Reading Adam Smith in Denmark - 0 views

www.gmfus.org/...article.cfm

economic policy america government denmark

shared by thinkahol * on 27 May 10 - Cached
  • thinkahol * on 27 May 10
     
    Adam Smith observed in 1776 that economies work best when governments keep their clumsy thumbs off the free market's "invisible hand." Two generations later, in 1817, the British economist David Ricardo extended Smith's insights to global trade. Just as market forces lead to the right price and quantity of products domestically, Ricardo argued, free foreign trade optimizes economic outcomes internationally. Reading Adam Smith in Copenhagen -- the center of the small, open, and highly successful Danish economy -- is a kind of out-of-body experience. On the one hand, the Danes are passionate free traders. They score well in the ratings constructed by pro-market organizations. The World Economic Forum's Global Competitiveness Index ranks Denmark third, just behind the United States and Switzerland. Denmark's financial markets are clean and transparent, its barriers to imports minimal, its labor markets the most flexible in Europe, its multinational corporations dynamic and largely unmolested by industrial policies, and its unemployment rate of 2.8 percent the second lowest in the OECD (the Organization for Economic Cooperation and Development). On the other hand, Denmark spends about 50 percent of its GDP on public outlays and has the world's second-highest tax rate, after Sweden; strong trade unions; and one of the world's most equal income distributions. For the half of GDP that they pay in taxes, the Danes get not just universal health insurance but also generous child-care and family-leave arrangements, unemployment compensation that typically covers around 95 percent of lost wages, free higher education, secure pensions in old age, and the world's most creative system of worker retraining. Does Denmark have some secret formula that combines the best of Adam Smith with the best of the welfare state? Is there something culturally unique about the open-minded Danes? Can a model like the Danish one survive as a social democratic island in a turbulent sea of globali
thinkahol *

The two-tiered justice system: an illustration - Glenn Greenwald - Salon.com - 0 views

www.salon.com/...justice

The two-tiered justice system: an illustration - Glenn Greenwald Salon.com

shared by thinkahol * on 21 May 11 - No Cached
  • thinkahol * on 21 May 11
     
    Of all the topics on which I've focused, I've likely written most about America's two-tiered justice system -- the way in which political and financial elites now enjoy virtually full-scale legal immunity for even the most egregious lawbreaking, while ordinary Americans, especially the poor and racial and ethnic minorities, are subjected to exactly the opposite treatment: the world's largest prison state and most merciless justice system. That full-scale destruction of the rule of law is also the topic of my forthcoming book. But The New York Times this morning has a long article so perfectly illustrating what I mean by "two-tiered justice system" -- and the way in which it obliterates the core covenant of the American Founding: equality before the law -- that it's impossible for me not to highlight it.
thinkahol *

Evil Corporate Tax Holiday Gains Bipartisan Support | Rolling Stone Politics | Taibblog... - 0 views

www.rollingstone.com/...ns-bipartisan-support-20110726

Evil Corporate Tax Holiday Gains Bipartisan Support | Rolling Stone Politics Taibblog Matt Taibbi on and the Economy

shared by thinkahol * on 27 Jul 11 - No Cached
  • thinkahol * on 27 Jul 11
     
    The madness that is the proposed tax repatriation holiday is continuing and gathering steam. More and more members of congress are coming out of the woodwork, scratching their chins in contemplative consideration as it were, pretending that they've just realized what a great day a corporate tax holiday would be - not that they've taken gazillions of dollars from the firms lobbying for it or anything. The latest convert seems to be Nevada Democrat Shelley Berkley. Berkley's plan is to offer a pseudo-holiday - not the full-fledged happy-ending massage the companies wanted (i.e. a reduction from 35 percent+ to 5.25 percent) but a mere ten-point shave: Representative Shelley Berkley, a Nevada Democrat, is the latest lawmaker to consider legislation allowing multinational companies to send offshore profits to the U.S. at a reduced tax rate. Her proposal, which was confirmed yesterday by Berkley's communications director, David Cherry, would allow companies to return profits to the U.S. at a 25 percent tax rate, 10 percentage points below the maximum statutory rate. Most companies publicly supporting a holiday, such as Duke Energy Corp., have spoken favorably of the 5.25 percent rate that is being offered by Representative Kevin Brady, a Texas Republican. One thing that people must understand about this tax repatriation business is that it's a wholly bipartisan affair. It's not solely the work of evil Republicans. This is a scheme that requires heavies in both parties to help ram the knotty, hard-to-sell legislation through. On the Democratic side, unsurprisingly, the main actor is going to be Chuck Schumer. John Kerry is also involved with this nastiness. Barbara Boxer led the 2004 effort and the failed 2009 campaign to get a holiday, and is rumored to be lurking somewhere in this business. Note that Cisco, a California corporate heavyweight and one of the companies lobbying most ravenously for this tax holiday, has been a consistent lifelong contributor
thinkahol *

Democracy Died First in Wisconsin - Long Live the Oligarchs | Common Dreams - 0 views

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Democracy Died First in Wisconsin - Long Live the Oligarchs | Common Dreams

shared by thinkahol * on 19 Aug 11 - No Cached
  • thinkahol * on 19 Aug 11
     
    The Wisconsin recall election was the first major test of the new era in American politics. That new era began in January of 2010 when the US Supreme Court ruled in Citizens United v. FEC that the political voice of We The People was no longer as important as the voices of billionaires and transnational corporations. Now we know the result, and it bodes ill for both 2012 and for the tattered future of small-d democracy in our republic. A few of America's most notorious oligarchs - including the Koch and the DeVos (Amway fortune) billionaires - as well as untraceable millions from donors who could as easily be Chinese government-run corporations as giant "American" companies who do most of their business and keep most of their profits outside the US - apparently played big in this election. I say "apparently" because the Supreme Court has ruled that we no longer have the right to know who is really funding our election commercials, or even our candidates themselves. Thanks to an irrational and likely illegal Supreme Court ruling, we have moved into an era of oligarch-run politics. As much as $40 million of our oligarch's money was spent in Wisconsin in a handful of local races - a testing laboratory for strategies that will now be used against Democrats nationwide in 2012. And so now we enter the battle of the oligarchs over the next fifteen or so months. As the old saying goes, when the elephants fight, the mice get trampled. In this case, the mice aren't just the voters. It's democracy itself. America is now - demonstrably, as proven by Wisconsin - just a few years away from the possibility of a totally corrupted, totally billionaire- and corporate-controlled political system. Political scientists call it oligarchy. The Citizens United election experiment is over, and the oligarchs won. Long live the oligarchy.
thinkahol *

Billionaire self-pity and the Koch brothers - Glenn Greenwald - Salon.com - 0 views

www.salon.com/...koch

Billionaire self-pity and the Koch brothers - Glenn Greenwald Salon.com

shared by thinkahol * on 28 Mar 11 - No Cached
  • thinkahol * on 28 Mar 11
     
    Since the financial crisis of 2008, one of the most revealing spectacles has been the parade of financial elites who petulantly insist that they are the victims of societal hostility:  political officials heap too much blame on them, public policy burdens them so unfairly, the public resents them, and -- most amazingly of all -- President Obama is a radical egalitarian who is unprecedentedly hostile to business interests.  One particularly illustrative example was the whiny little multi-millionaire hedge fund manager (and CNBC contributor), Anthony Scaramucci, who stood up at an October, 201o, town hall meeting and demanded to know:  "when are we going to stop whacking at the Wall Street pinata?" The Weekly Standard now has a very lengthy defense of -- including rare interviews with -- Charles and David Koch, the libertarian billionaires who fund everything from right-wing economic policy, union-busting, and anti-climate-change advocacy to civil liberties and liberalized social policies -- though far more the former goals than the latter.  In this article one finds the purest and most instructive expression of billionaire self-pity that I think I've ever seen -- one that is as self-absorbed and detached from reality as it destructive.  It's really worth examining their revealed mindset to see how those who wield the greatest financial power (and thus the greatest political power) think of themselves and those who are outside of their class.
thinkahol *

Book release: With Liberty and Justice for Some - Salon.com - 0 views

www.salon.com/...singleton

Book release: With Liberty and Justice for Some - Salon.com

shared by thinkahol * on 26 Oct 11 - No Cached
  • thinkahol * on 26 Oct 11
     
    I'm genuinely excited today to announce the release of my new book, With Liberty and Justice for Some: How the Law is Used to Destroy Equality and Protect the Powerful. As of this morning, it is available in bookstores as well as for shipping online. The book focuses on what I began realizing several years ago is the crucial theme tying together most of the topics I write about: America's two-tiered justice system - specifically, the way political and financial elites are now vested with virtually absolute immunity from the rule of law even when they are caught committing egregious crimes, while ordinary Americans are subjected to the world's largest and one of its harshest and most merciless penal states even for trivial offenses. As a result, law has been completely perverted from what it was intended to be - the guarantor of an equal playing field which would legitimize outcome inequalities - into its precise antithesis: a weapon used by the most powerful to protect their ill-gotten gains, strengthen their unearned prerogatives, and ensure ever-expanding opportunity inequality. This is how I described that development in the book:
Muslim Academy

Pakistan Most unsafe Place for journalists/newsman - 0 views

muslim-academy.com/unsafe-place-for-media-persons

pakistan most unsafe place for journalists pakistan most unsafe place for newsman pakistan most unsafe place for media persons

shared by Muslim Academy on 04 Jan 13 - No Cached
  • Muslim Academy on 04 Jan 13
     
    It is a fact that the media is playing a significant role in every society and culture. Now, the settlement of public agendas has become difficult without the contribution of media. Media bombard us with the latest and fresh information all the day. In the past, only print media were available, but now it has converted into electronic media due to the advancement of technology. Media is working freely only in certain countries and states like Pakistan. Now hundreds of channels are working to amuse the people like entertainment and sports channels. Although, some forces don't like free media in Pakistan like the Taliban and some politicians. They always threaten the media persons. It is reported that three media persons have been killed in Pakistan in the last few months. Similarly, 30 journalists injured by terrorists. In total, 48 media attacks have been reported in the last few months. Journalists are not safe and secure in the Pakistan region. In 2011, more than 25 journalists were kidnapped by terrorists. Journalists receive threats and harassment on a daily basis in Pakistan.
Muslim Academy

Knowledge of Islam: A complete code of life - 0 views

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Knowledge of Islam Islam a Complete code of life Islam

shared by Muslim Academy on 17 Aug 12 - No Cached
  • Muslim Academy on 17 Aug 12
     
    Islam is a religion of truth. It is the complete code of life that teaches us everything about the life in this world and how to live it so that we can earn a place in heavens in the life after death. History shows that Muslims have been the most civilized people in the whole world, because of the teachings and rules of the religion Islam. Even when it was revealed on the Prophet and he started inviting everyone to accept Islam, no one was forced in fact they were given a congregational lecture about the truth and lie giving them enough knowledge to make a wise choice. This tolerance was the first reason why the number of people that accepted to Learn Islam rapidly grew in the early Islamic history. It is not at all a difficult religion as most people from other religions and beliefs around the world think it is. It merely teaches the simplest way of leading our lives in the best way. The best thing about Islam is that it not only is specific to the religion based matters but also provides complete guidance in the various other aspects of life that makes it easier to lead a successful life.
Muslim Academy

Other Languages Muslims speak - 0 views

muslim-academy.com/other-languages-muslims-speak

Other Languages Muslims speak Learn arabic Other languages

shared by Muslim Academy on 01 Sep 12 - No Cached
  • Muslim Academy on 01 Sep 12
     
    There are number of languages in world. Different people speak different languages. As the Muslims also exist in near about every part of the world so Muslims also have languages other than Arabic. More than half the world's Muslims are non- Arabs. Most Muslims grow up speaking any number of languages other than Arabic. In Iran, most Muslims speak Persian; in Afghanistan, Pushtu, Dari (a dialect of Persian), or Uzbek; in Pakistan, perhaps Sindhi, Baluchi, or Punjabi; in India, Hindi, Kashmiri, or Urdu; in Bangladesh, Bengali. In Malaysia the person who professes to be Muslim, habitually speaks the Malay language, adheres to Malay customs and is domiciled in Malaysia. They use Malay language as native language. Bosnian Muslims living in Bosnia or also called Bosnikas, referred to Bosnian Muslim mostly speaks Greece, Germaniums languages as well as other native language. About 500,000 Muslims from Greece, predominantly of Turkish speaks Turkish languages.
Muslim Academy

Recitation of the Quran - 0 views

muslim-academy.com/recitation-of-the-quran

Learn Arabic Learn Tajweed Recitation of the Quran

shared by Muslim Academy on 07 Sep 12 - No Cached
  • Muslim Academy on 07 Sep 12
     
    Islam is an Abrahamic religion, monotheistic, founded in the seventh century in the Arab peninsula, the territory of modern Saudi Arabia, by the prophet Muhammad and based on religious text known as the Qur'an. Over time a large spread on a territory that stretches across Europe, Asia and North Africa. Religious center is in the holy cities of Mecca and Medina. Most people do not know the exact rules imposed by Islam, but have formed an opinion based on rumors heard. Unfortunately, most of them are wrong, so this is why you have to learn tajweed.
thinkahol *

The universality of war propaganda - Glenn Greenwald - Salon.com - 0 views

www.salon.com/...index.html

war propaganda

shared by thinkahol * on 30 Jun 10 - Cached
  • thinkahol * on 30 Jun 10
     
    Jeffrey Goldberg responded yesterday to my post detailing his long list of journalistic malfeasance by telling me that he and the Prime Minister of Iraqi Kuridstan would like me to travel there to hear how much the Kurds appreciate the U.S. invasion of Iraq. Leaving aside the complete non sequitur that is his response -- how does that remotely pertain to Goldberg's granting of anonymity to his friends to smear people they don't like or the serial fear-mongering fabrications he spread about the Saddam threat prior to the invasion? -- I don't need to travel to Kurdistan to know that many Kurds, probably most, are happy that the U.S. attacked Iraq. For that minority in Northern Iraq, what's not to like? They had foreign countries (the U.S. and its "partners") expend their citizens' lives and treasure to rid the Kurds of their hated enemy; they received semi-autonomy, substantial oil revenues, a thriving relationship with Israel, and real political power; the overwhelming majority of the hundreds of thousands of Iraqis whose lives were snuffed out and the millions of people displaced by the war were not Kurds, and most of the destruction took place in Central and Southern Iraq away from their towns and homes, while they remain largely free of the emergent police state tactics of the current Iraqi government. As Ali Gharib put it to Goldberg: "there are at least 600,000 Iraqis who, I imagine, are not too thrilled about the way it all turned out and with whom Greenwald will never get a meeting."
thinkahol *

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

fdlbooksalon.com/...mes-bruce-fein-american-empire

FDL Book Salon Welcomes Bruce Fein American Empire Before the Fall |

shared by thinkahol * on 18 Sep 10 - No Cached
  • thinkahol * on 18 Sep 10
     
    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 *

Roll up, roll up! The laws of the United States are now officially for sale! : Johann Hari - 0 views

johannhari.com/...es-are-now-officially-for-sale

up roll up! laws of the United States are now officially for sale! : Johann Hari

shared by thinkahol * on 07 Nov 10 - No Cached
  • thinkahol * on 07 Nov 10
     
    The laws and policies of the legislature of the United States of America are now effectively on eBay, for sale to the highest bidder. Are you a Wall Street boss who wants to party like it's 2007? Are you a Big Coal baron who wants to burn, baby, burn? Are you an insurance company that wants to be able to kick sick people off your rolls? Meet John Boehner, the most powerful Republican and soon-to-be Speaker of the House. But -- of course! -- you already have. Here's an example of how you have worked together. In 1995, the House was going to finally repeal subsidies for growing tobacco, because an addictive cancer-causing drug didn't seem like the most deserving recipient of taxpayers' cash -- until Boehner walked the floor of the House handing out checks from tobacco lobbyists to his fellow elected representatives. They changed their minds. The subsidy stayed. Explaining his check-dispensing, Boehner says: "It's gone on here for a long time." So get your bids in: The House is open for business.
Sarah Eeee

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

www.nytimes.com/...26excerpt.html

inequality capitalism economics

shared by Sarah Eeee on 27 Dec 10 - No Cached
  • 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.
  • ...4 more annotations...
  • 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
  • Sarah Eeee on 27 Dec 10
     
    (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.
thinkahol *

Robert Reich (The Big Lie) - 0 views

robertreich.org/2586459266

Robert Reich (The Big Lie)

shared by thinkahol * on 05 Jan 11 - No Cached
  • thinkahol * on 05 Jan 11
     
    Republicans are telling Americans a Big Lie, and Obama and the Democrats are letting them. The Big Lie is our economic problems are due to a government that's too large, and therefore the solution is to shrink it. The truth is our economic problems stem from the biggest concentration of income and wealth at the top since 1928, combined with stagnant incomes for most of the rest of us. The result: Americans no longer have the purchasing power to keep the economy going at full capacity. Since the debt bubble burst, most Americans have had to reduce their spending; they need to repay their debts, can't borrow as before, and must save for retirement.
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