Socialist investing

Dan Solin points out that it's more profitable to invest in socialist countries:

According to one report, for the 39 years ending December 31, 2008, the annualized stock returns of "socialist" countries (like Norway, Denmark, Hong Kong, Sweden and France), exceeded the stock returns of the U.S. Unlike the U.S., these countries aggressively curtailed economic freedom. It appears there is an inverse relationship between higher returns and economic freedom. It is also difficult to conclude that government intervention in private industry is a precursor to lower returns.

Continue ReadingSocialist investing

Anatomy of a foreclosure case

Consider this description of a Florida foreclosure docket by the Orlando Sentinel:

Most of the borrowers — maybe 95 percent — don't have representation," said dispute-resolution expert Sandra Upchurch, who administered the state foreclosure mediation in Volusia County courts. "Many made bad decisions, and some loans have legitimate problems. But if borrowers have no lawyers, the cases aren't being argued. And those cases are going to get opened and closed in 30 seconds, and those buyers don't have a chance.

If you don't believe this, go visit your own state's foreclosure docket--except, wait! Most states have non-judicial foreclosure. They don't even require a judge to review foreclosure sales. And this is in the context of a system where most home loans have seriously defective paperwork. These are numerous cases out there where a good lawyer can successfully fight off the foreclosure, yet 95% of foreclosed homeowners don't have lawyers.

Continue ReadingAnatomy of a foreclosure case

Today’s target of American civil rights abuses

Glenn Greenwald agrees with Law Professor Jonathan Turley that Americans are facing "ten major, ongoing assaults on core civil liberties, expanded during the Bush administration yet vigorously continued and/or expanded by President Obama:

Assassination of U.S. citizens; Indefinite detention; Arbitrary justice; Warrantless searches; Secret evidence; War crimes; Secret court; Immunity from judicial review; Continual monitoring of citizens; and Extraordinary renditions.
In today's column, Greenwald asks "who are generally the victims of these civil liberties assaults?" Perhaps his question could be tweaked as follows: "Who are today's victims of these civil liberties assaults?" Here is his answer:
The answer is the same as the one for this related question: who are the prime victims of America’s posture of Endless War? Overwhelmingly, the victims are racial, ethnic and religious minorities: specifically, Muslims (both American Muslims and foreign nationals). And that is a major factor in why these abuses flourish: because those who dominate American political debates perceive, more or less accurately, that they are not directly endangered (at least for now) by this assault on core freedoms and Endless War (all civil liberties abuses in fact endanger all citizens, as they inevitably spread beyond their original targets, but they generally become institutionalized precisely because those outside the originally targeted minority groups react with indifference).
This endless war and civil rights abuses are destroying the American character. On this point, Greenwald refers to Martin Luther King's 1967 speech critical of the Vietnam War, which includes this passage:
I knew that America would never invest the necessary funds or energies in rehabilitation of its poor so long as adventures like Vietnam continued to draw men and skills and money like some demonic destructive suction tube. So I was increasingly compelled to see the war as an enemy of the poor and to attack it as such . . . .
Like so much of Greenwald's research and writing, today's column is detailed and precisely and persuasively argued. I would highly recommend reading the entire original.

Continue ReadingToday’s target of American civil rights abuses