Cheaper

It doesn’t do the job, but it’s cheaper for employers and that’s really all that counts! Gin and Tacos:

Children born since the year ~1995 will need to have the concept of a pension explained to them. It will be about as relevant to their lives as the carburetor, the telephone switchboard operator, and the Victrola. And we will have to explain that after St. Ronnie descended from heaven and a lot of people in expensive suits spent ten years doing blow, corporate America came up with this great idea: rather than having a defined benefit, why not have defined contribution retirement plans? It would cost employers far less, sure, but it would benefit the working stiff, too! Why be saddled to a defined benefit when you can invest your money in Mutual Funds (remember when those were all the rage? Gosh, I Love the 90s!tm) and watch it grow, like, 10-15% per year! Hell, maybe 20%.

The internet came along at just the right time to make this seem plausible. Look! Websites! E-Trade! You can be your own stockbroker! Sure, nobody really understands any of this shit, but… Mutual Funds! A trained monkey could pick those, and our Investment Professionals take care of the rest. You just get a drink with an umbrella in it, sit back, and watch your money grow.

Now that this new era of capitalism is mature – if any aspect of such a scheme can be so labeled – it turns out that the estimates of future gains may have been slightly exaggerated. Maybe we all were a tad optimistic. So maybe it has been more like 5% annualized, if you’re lucky. And then there’s the Investment Professionals. Boy, we should maybe have screened them a little more carefully, or supervised them a little, or maybe not incentivised gambling with your money for short-term gains. And then there was that whole real estate thing, which no one could have foreseen. Everyone knows that real estate is a good investment! OK, OK. Lessons learned.
Continue Reading →

Hunger strike

Visit NBCNews.com for breaking news, world news, and news about the economy

I remind you that there is no evidence against the vast majority of inmates (Afghan warlords turned random people in for the reward money). The wingnuts insist that because some of the man released joined al Qaeda, we can’t let anyone go! Oh, and in case you forgot, we are the alleged “good guys” in this gruesome situation:

Emaciated and frail, more than 100 men lie on concrete floors of freezing, solitary cells in Guantánamo, silently starving themselves to death.

Stripped of all possessions, even basics such as a sleeping mat or soap, they lie listlessly as guards periodically bang on the steel doors and shout at them to move an arm or leg to prove they are still conscious.

The notorious detention centre is in crisis, suffering a rebellion of unprecedented scale, with most of the camp on lockdown and around two-thirds of the 166 detainees on hunger strike.

This week 40 American military nurses were drafted in to try to stem a mass suicide. The last Brit inside, Shaker Aamer, has said he is prepared to strike to his death.
Continue Reading →

Oh dear

But but but… the Very Serious People say we need to start another war ASAP:

(Reuters) – U.N. human rights investigators have gathered testimony from casualties of Syria’s civil war and medical staff indicating that rebel forces have used the nerve agent sarin, one of the lead investigators said on Sunday.

The United Nations independent commission of inquiry on Syria has not yet seen evidence of government forces having used chemical weapons, which are banned under international law, said commission member Carla Del Ponte.

“Our investigators have been in neighboring countries interviewing victims, doctors and field hospitals and, according to their report of last week which I have seen, there are strong, concrete suspicions but not yet incontrovertible proof of the use of sarin gas, from the way the victims were treated,” Del Ponte said in an interview with Swiss-Italian television.

“This was use on the part of the opposition, the rebels, not by the government authorities,” she added, speaking in Italian.

Del Ponte, a former Swiss attorney-general who also served as prosecutor of the International Criminal Tribunal for the former Yugoslavia, gave no details as to when or where sarin may have been used.

Oh, and just in case you were wondering: I heard on the news this morning that the administration may send the rebels more arms, I guess as a reward for showing such initiative. Freedom!

Site Meter