The many lies about Afghanistan

Who would you trust more to report what is really going on in Afghanistan? High ranking generals spellbound by the sunk costs and warped to incoherence by their increasingly outrageous promises of success in this ten-year old war? Or would you trust a 17-year army veteran who has put his career in jeopardy by reporting his frank observations outside of his chain of command? Here is the detailed unclassified report of Lt. Colonel Daniel Davis. He has also provided a classified version to various members of Congress, as reported by Michael Hastings of Rolling Stone, in an article he has titled, "The Afghanistan Report the Pentagon Doesn't Want You to Read." Here is an excerpt from the unclassified report by Daniel Davis:

[A]s was repeated with frequency during the first quarter of 2011 senior ISAF leaders have explained that we killed a significant number of insurgent (INS) leaders and foot soldiers, we took away his former sanctuaries, cut off his supply routes, took away his freedom of movement, discovered a huge number of weapons and ammo caches, and captured hundreds of insurgent fighters. But if these things are so, the expectation of yet another all-time record of violence warned by the leaders was illogical. If I have tens of thousands of additional ISAF boots, and I kill hundreds of INS leaders thousands of his fighters, capture huge numbers of caches, take away his sanctuaries, and deny him freedom of movement, how could he then significantly increase his level of attacks as the Taliban did in the first half of 2011? By any rational calculation, our vastly increasing numbers combined with the enemy's dwindling pool of fighters and loss of equipment ought to have had precisely the opposite effect: they should have been capable of conducting considerably fewer attacks, emplacing a smaller number of IEDs, and their influence on the population should have been notably diminished. Yet none of those things came to pass. ISAF leaders, nevertheless continue to make bold and confident statement after statement that we are succeeding, that the insurgency is weakening, and that the Government of the Islamic Republic of Afghanistan (GoIRA) is gaining the confidence of its people though they offer almost no tangible evidence to that effect, while explaining away the considerable volume of evidence which logically should cause one to reach a very different conclusion.
What is the truth about Afghanistan? Davis cites with approval from a 2011 report by Anthony Cordesman, on behalf of the Center for Strategic and International Studies (see pages 10 and 11): • US and ISAF won every major tactical clash, but lost much of the country; • ISAF denied the scale of the insurgency and the seriousness of its rise. Issued intelligence and other reports claiming success that did not exist; • The US and ISAF remained kinetic through 2009; the insurgent fought a battle of influence over the population and political attrition to drive out the US and ISAF from the start; • In June 2010, the Acting Minister of Interior told the press that only 9 of Afghanistan's 364 districts were considered safe; • No ISAF nation provides meaningful transparency and reporting to its legislature and people. But what about all of those optimistic reports from high ranking U.S. military brass? Davis cites with approval from a report written by Afghanistan NGO Safety Office (ANSO) and signed by ANSO Director, Nic Lee, examining "the security situation in Afghanistan in order to inform the greater NGO community about the risks they face when operating there."
More so than in previous years, information of this nature is sharply divergent from (International Military Forces) 'strategic communication’ messages suggesting improvements. We encourage (NGO personnel) to recognize that no matter how authoritative the source of any such claim, messages of the nature are solely intended to influence American and European public opinion ahead of the withdrawal, and are not intended to offer an accurate portrayal of the situation for those who live and work here.
The report by Davis is compelling, detailed and damning of the propaganda issued by the U.S. regarding Afghanistan. His report is a must read in these times while we continue to spend $2 Billion per week on this fiasco. Now it's time for American journalists to step up and report the truth, though Davis is not optimistic that they will carry out their mission (see p. 28):
So long as our country’s top TV and print media continue to avoid challenging power for fear of losing access, there is every reason to expect many senior Defense Department leaders will continue to play this game of denial of access in order to effect compliant reports. As I’ve shown throughout this report, there is ample open source information and reports all over the internet that would allow any individual – or reporter – to find the truth and report it. But heretofore few have. As I note later in this report that there are a number of high ranking generals in the military today who are brilliant leaders and have the highest standards and integrity (giving me hope that there is a chance of reform in the future), so too there are some really fine journalists in both print and on-air media organizations. We need more experienced and honorable journos – and their parent organizations – to summon the courage to report wherever the truth leads and not simply regurgitate the bullet points handed out by some action officer. America needs you.
Feb 15, 2012 - Michael Hastings of Rolling Stone discusses the report of Lt. Col. Daniel Davis with Amy Goodman of Democracy Now:

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Financial Advisors under the microscope

I recently finished reading Dan Solin's The Smartest Portfolio You'll Ever Own (2011), half of which is a damning indictment of most financial advisers. Solin makes a convincing case that those brokers who claim that they can pick stocks or time the market are selling unadulterated snake oil. In fact, avoid all of the following: Buying individual stocks or bonds. Actively managed mutual funds Alternative investments Variable annuities Equity indexed annuities Private equity deals Principal-protected notes Currency trading, and Commodities trading. Instead, Solin recommends the slow and steady historically documented growth associated with passively managed broad market index funds including many of the low-fee passively managed funds offered by Vanguard. Solin has ample shocking facts and figures to back up his claims and indictments, and he continues the attack on false claims and hidden fees here.

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Cause of the economic collapse: Bank fraud versus bank incompetence?

In this 2009 interview with Bill Moyers, William Black, a former bank examiner and now a professor at the University of Missouri-St. Louis, discusses the cause of economic collapse. Some have suggested that the banks were merely incompetent. Black argues that many players in the financial industry purposely engaged in a Ponzi scheme that was so big as to make Bernie Madoff look like a "piker." He argues that the banks and the loan raters purposely refused to engage in responsible lending practices. Government officials (under the Clinton administration) destroyed Glass-Steagall. Congress intentionally circumvented the warnings of regulator Brooksely Born in deciding the make CDS derivatives legal. Congress refused to fund adequate staff staffing of law enforcement so as to prosecute ongoing bank fraud beginning in 2001. Under this set of doomed-to-fail policies, a single financial enterprise, IndyMac made more bad loans than were made during the entire Savings and Loan Crisis. The game now is to maintain a coverup--Black points fingers at Timothy Geithner and others.

Bill Moyers Journal: William K. Black from BillMoyers.com on Vimeo.

Bill Moyers conducted this interview on his PBS show. He is now active as a journalist at his own website.

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The problem with 401K plans

Dan Solin warns us of the huge problems involving 401K plans:

Here is the harsh reality: 401(k) plans are a false crutch for employees. They simply don't work, if you define "work" as providing funds that will permit retirement with dignity -- if at all. According to Fidelity Investments, average balances in 401(k) plans as of March 31, 2011 were $74,900. Those 55 and older had saved $233,800 on average. Given increased life expectancy, it is understandable that another study found that 61 percent of those surveyed said they were more scared of outliving their assets than they were of dying.

I have just finished reading Solin's new book, The Smartest Portfolio You'll Ever Own: A Do-It-Yourself Breakthrough Strategy. Lots of intriguing numbers that run counter to much of the hype you hear from "financial advisers" on TV. Most important part of his book is the Solin gives you the recipe for assembling your own portfolio based on passively managed funds with low fees. He is one of the relatively few well-known financial advisers who steers you wide of brokers who claim that they can pick stocks. Solin essentially calls these people frauds, based upon decades of numbers.

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Making banks pay for their secret $7 trillion free ride

Eliot Spitzer offers "5 Ways to Make Banks Pay for Their Secret $7 Trillion Free Ride." Here's the problem:

During the deepest, darkest period of the financial cataclysm, the CEOs of major banks maintained in statements to the public, to the market at large, and to their own shareholders that the banks were in good financial shape, didn’t want to take TARP funds, and that the regulatory framework governing our banking system should not be altered. Trust us, they said. Yet, unknown to the public and the Congress, these same banks had been borrowing massive amounts from the government to remain afloat. The total numbers are staggering: $7.7 trillion of credit—one-half of the GDP of the entire nation. $460 billion was lent to J.P. Morgan, Bank of America, Citibank, Wells Fargo, Goldman Sachs, and Morgan Stanley alone—without anybody other than a few select officials at the Fed and the Treasury knowing. This was perhaps the single most massive allocation of capital from public to private hands in our history, and nobody was told. This was not TARP: This was secret Fed lending.

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