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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.
Joe La Fleur

The Senate's first order of business: Polar bear carcasses « Hot Air - 0 views

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    DEMOCRAT CONTROLLED SENATE SAYS DAM THE ECONOMY AND DEAD AMERICANS IN BENGHAZI
thinkahol *

Latinos Bear Weight of Deportation Program - 0 views

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    A deportation program that is central to the Obama administration's immigration enforcement strategy has led disproportionately to the removal of Latino immigrants and to arrests by immigration authorities of hundreds of United States citizens, according to a report by two law schools using new, in-depth official data on deportation cases. The report also found that about a third of around 226,000 immigrants who have been deported under the program, known as Secure Communities, had spouses or children who were United States citizens, suggesting a broad impact from those removals on Americans in Latino communities. The report, to be released Wednesday, is the first analysis of deportations under the Secure Communities program based on data about individual cases, which was obtained through the Freedom of Information Act by the University of California, Berkeley, law school and the Benjamin N. Cardozo School of Law in New York.
Joe La Fleur

Carter to Obama: Same Old Story on Energy Policy - 0 views

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    TWEEDLE DEE AND TWEEDLE DUMB. THEY'RE TWIN SONS OF DIFFERENT MOTHERS! A LITTLE FACT CHECKING WILL BEAR OUT THAT RONALD REGAN INHERITED A WORSE MESSFROM CARTER THAN OBAMA DID FROM BUSH.
thinkahol *

End Limited Liability (and Save the World) - Sign the Petition | 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 *

A Question About Wikileaks, Amazon, and Intellectual Property - Crooked Timber - 0 views

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    I have a legal question about the Wikileaks case, prompted by this this Guardian piece, by John Naughton, linked in Henry's comments. I must confess: I wasn't surprised or particularly scandalized when Amazon kicked Wikileaks off its cloud, because I figured Amazon was probably technically in the right. Wikileaks had probably violated whatever terms of service were in place. I thought this sounded like the sort of thing any private company was likely to do, whether or not Joe Lieberman actually brought pressure to bear. If you have a problem customer who has violated your terms of service, you terminate service. (Just to be clear: I think ongoing attempts to shut down Wikileaks in patently legally dodgy ways are an utter scandal. Joe Lieberman pressuring Amazon is a scandal. I'm with Glenn Greenwald. I also think existing intellectual property laws are, by and large, an atrocious mess. Still, the law is what it is, so the question of how a private company like Amazon can and should be expected to react to this sort of situation is narrower than certain other more general questions about free speech and the press and so forth.)
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.
Yee Sian Ng

Is Europe Irrelevant? | Cato @ Liberty - 0 views

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    It could be argued that the costs to the United States of providing such services for the rest of the world are modest, but that is ultimately a judgment call. To be sure, the dollar costs will not bankrupt us as a nation, but Americans spend $2,700 per person on our military, while the average European spends less than $700. The bottom line is that Europeans have little incentive to spend more because they don't feel particularly threatened, and they aren't anxious to take on responsibilities that are ably handled by the United States. The advocates of hegemonic stability theory would declare that a feature, not a bug. Mission accomplished. And that might be true, if the greatest threat to global security were a resurgence of conflict in Europe, and if it is truly in the U.S. interest to forever have allies with few capabilities and many liabilities. But that seems extremely shortsighted. The sweeping political and economic integration in Europe has dramatically reduced the likelihood of another European war. In the meantime, the fact that we have many allies with little to offer by way of military assets, and even less political will to actually use them, is forcing the U.S. military to bear the disproportionate share of the burdens of policing the planet. And in the medium- to long-term, while I doubt that we will be facing "a militarily superior, post-Soviet Russia," allies with usable military power might ultimately serve a purpose if Moscow proves as aggressive (and capable) as the hawks claim.
Yee Sian Ng

Ezra Klein - How the filibuster was invented - 0 views

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    "And once they do figure it out, of course, they could never rid themselves of it because the minority never had an interest in letting go of their advantage. Binder's history doesn't have much bearing on whether the filibuster is a good thing or a bad thing. Plenty of accidents are happy accidents. But it should put to rest the idea that the filibuster somehow represents the will of the Founders, or it was adopted as part of a conscious effort to protect minority rights. The filibuster was an accident. It has been reformed a number of times (notably in 1917, when cloture was set at 67 votes, and in 1975, when cloture was lowered to 60 votes). It can be kept in its current state, strengthened, weakened or abolished. There is nothing sacred about it."
rich hilts

The Health Debate - The Right Of It - 1 views

shared by rich hilts on 19 Jan 11 - No Cached
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    Our take, opinion and some facts that bear scrutiny from the left - along with some thoughts that might make you go hmmmm about this latest fear mongering from the left and games they are playing. From Kathleen Sebelius to Harry Reid there is apparent manipulation going on you might want to re-think.
thinkahol *

Support the Dominant Paradigm | CommonDreams.org - 0 views

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    There's a bumper sticker still clinging to the back of my old camper, bearing a phrase you've probably heard before or perhaps even uttered: "Subvert the Dominant Paradigm." At the time I'd placed this on the tailgate for display, it made perfect sense to me. The Dominant Paradigm was the one manufactured by the warmongers, corporateers, securitizers, and mediamen. The rest of us were living in a Subordinate Paradigm, and the path to our salvation lay in tearing down the one imposing itself upon us. Since those halcyon bumper-sticker days, however, I've come to see that this logic is actually inverted, and that in fact WE are the Dominant Paradigm while those ostensibly in charge are the ones who continually attempt to subvert it.
thinkahol *

The Arctic National Wildlife Refuge - a preservation fight worth having - latimes.com - 0 views

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    Right about now in the Arctic National Wildlife Refuge, dozens of pregnant female polar bears are preparing to give birth in dens they dug into the snowdrifts last month, unaware that the fate of their home, and possibly their species, hinges on the price of gasoline. The Obama administration can and should change that.
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 *

Occupied Palestinian Territory and Israel - Children and Armed Conflict - 0 views

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    The information below is based on the 2010 report of the Secretary-General to the Security Council (A/64/742-S/2010/181) issued on 13 April 2010. More information is available in the report. At the close of 2009, the effects of Israel's military operations in Gaza, codenamed "Operation Cast Lead", from 27 December 2008 to 18 January 2009, were still being felt across the Gaza Strip. Thousands of Gaza residents, including children, are still living in alternative or temporary accommodation and many schools, health facilities and parts of vital water and sanitation infrastructure networks have not been rehabilitated or repaired. The ongoing blockade by Israel and the resulting lack of necessary materials in Gaza make such repairs and rehabilitation difficult. A total of 374 Palestinian children were killed and 2,086 were injured during the reporting period, including at least 350 killed and 1,815 injured in Gaza alone during "Operation Cast Lead" by Israeli forces. The Israel/occupied Palestinian territory working group on grave violations against children confirmed 12 cases of Palestinian children who were killed while bearing arms and acting as combatants during "Operation Cast Lead". The working group also confirmed one case of recruitment of a 16-year-old boy by the armed group Ezz al-Din al-Qassam Brigades. The actual number of cases is believed to be higher and there had been other reported incidents of children being trained and/or used by Palestinian militant groups in Gaza. Community members are, however, reluctant to provide information on this practice.
thinkahol *

The Mistake of 2010 - NYTimes.com - 0 views

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    Earlier this week, the Federal Reserve Bank of New York published a blog post about the "mistake of 1937," the premature fiscal and monetary pullback that aborted an ongoing economic recovery and prolonged the Great Depression. As Gauti Eggertsson, the post's author (with whom I have done research) points out, economic conditions today - with output growing, some prices rising, but unemployment still very high - bear a strong resemblance to those in 1936-37. So are modern policy makers going to make the same mistake?
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 *

Robert Scheer: One Betrayal Too Many - Robert Scheer's Columns - Truthdig - 0 views

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    It's getting too late to give President Barack Obama a pass on the economy. Sure, he inherited an enormous mess from George W., who whistled "Dixie" while the banking system imploded. But it's time for Democrats to admit that their guy bears considerable responsibility for not turning things around. 
cysko cysko

Saudi Women Demand Sweeping Lingerie Reforms - women's history month - saudi arabia boycotts lingerie stores - saudi lingerie store boycott : LimeLife - 0 views

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    But during these already traumatic shopping outings, the women are often accompanied by their husbands or male relatives, who tag along to "ensure that the women remain safe" with male sales people. Confronted with the embarrassment already interacting with strange men about their own "unmentionables," the added layer of having embarrassed male relatives there is too much for most women to bear.
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