The 401k Scam

Seeded on Tue Apr 8, 2008 7:15 AM EDT (Bits of News)

Like most people I was told to plow as much money into my 401k pension plan as possible. So like millions of other workers out there, I did as I was told. Since then I came to realize that the 401k model is hopelessly flawed and will lead an entire generation to despair.

business, economy, social-security, pension, retirement, 401k

$1,251: Your Potential Part for Bailing out Wall Street... so far

Seeded on Wed Mar 26, 2008 2:54 PM EDT (Bits of News)

The S&L crisis cost about $500 for every person in America in 1990. Back then they simply taxed the public to pay for the bailout of millionaire bankers. Today the bailout is much more backhanded, but make no mistake, it's still going to cost you.

business, economy, wall-street, taxes, banking, subprime

Apocalypse 2012!

Seeded on Tue Mar 25, 2008 10:52 PM EDT (Bits of News)

The person winning the White House this year will be the one sitting there, either as a lame duck or a president-re-elect, on December 21st, 2012.

odd-news, maya, nostradamus, prophecy, apocalypse

The Days of Cheap Fuel and Food are over

Seeded on Sat Mar 22, 2008 1:30 AM EDT (Bits of News)

The days of cheap oil are already past us. The difference between food and fuel is there is never going to be an alternative for food. We all need to eat, and there is no substitute.

business, oil, economy, food, depression, recession

The Mystery of the Lost Drake Colony Nova Albion

Seeded on Wed Mar 19, 2008 8:29 PM EDT (Bits of News)

English naval legend Francis Drake's greatest adventure was his circumnavigation of the globe in his ship the Golden Hind. Drake claimed to have set foot on North America in 1579 during his voyage. He supposedly established an English foothold (Nova Albion) on the Pacific Coast.

history, pirates, navy, ships, elizabeth, armada, francis-drake

U.S. Dollar is Just Another 3rd World Currency

Seeded on Fri Mar 14, 2008 5:45 PM EDT (Bits of News)

There was a time that people all over the world would trade in their local currency for good ol' American Dollars just as fast as they could. Those days are gone.

business, dollar, economy, economics, banking, debt

Ancient slavery and new historians: The Invention of Ancient Slavery

Seeded on Tue Mar 11, 2008 8:22 PM EDT (Bits of News)

An investigation of the historiography of ancient slavery provokes new questions- like whether we can ever discover historical truth and whether history is always bound to be a propagandistic lie.

history, slavery, rome

The Problem With Artificially Low Interest Rates

Seeded on Thu Mar 6, 2008 9:30 AM EST (Bits of News)

When all is said and done, the losses experienced by the financial sector and investors brought about by Mr. Greenspan's and Mr. Bernanke's irresponsible monetary policies will exceed several trillion US dollars.

business, economy, banking, debt, bernanke

The Crash is Past. Comes now Inflation

Seeded on Wed Mar 5, 2008 3:52 PM EST (Bits of News)

A lot of people don't realize the worst financial crash since 1929 has already occurred. It began last August.

business, economy, banks, inflation, debt

The History of Persia Part I: Ancient Persia

Seeded on Mon Mar 3, 2008 2:57 AM EST (Bits of News)

The first part of R. Scott Peoples' history of Persia, land of the Aryans, whose ancient past included every major historical figure in the Middle Eastern world, from Alexander to Zoroaster.

history, middle-east, iran, persia

It's Beginning to Look a Lot like Recession Everywhere You Go

Seeded on Sat Dec 1, 2007 10:24 AM EST (Bits of News)

Until recently the markets considered the August credit crunch to be a one-off event that was fixed with Fed rate cuts. But recently the realization that not only was the credit crunch not fixed, but this second round is worse than the first.

business, economy, credit, banking, debt, subprime

Recession Hits America, But Why Doesn't the U.S. Govt Believe It?

Seeded on Wed Nov 21, 2007 7:33 AM EST (Bits of News)

Investment guru Marc Faber sees the U.S. economy sliding into a recession, if it isn't already there.

business, dollar, economy, currency, debt, recession

'Containment' Spreading Fast in Housing Bust

Seeded on Wed Oct 24, 2007 7:36 PM EDT (Bits of News)

Remember when they used to say that the housing bust was contained to subprime? Then it was only in certain locations. Then it wouldn't effect the rest of the economy. A few days ago came the news that housing starts were at a 14-year low.

business, economy, housing, banking, debt, subprime

Iraqi Government Revokes Security Contractors' Immunity

Seeded on Wed Oct 24, 2007 12:17 PM EDT (Bits of News)

On Wednesday morning the Iraqi government decided to revoke the aspects of CPA Order 17 that had been integrated into Iraqi law. CPA Order 17 was the order that gave contractors like Blackwater immunity under the Iraqi system of law.

iraq, war, law, contractors, world-news, blackwater

Turkish Special Forces Crosses Iraqi Border

Seeded on Wed Oct 24, 2007 5:44 AM EDT (Bits of News)

After threatening to do so for the last few days, the Turks have made good on their promise to go after the Kurdish separatist PKK in northern Iraq.

turkey, iraq, war, kurds, world-news, pkk

Goldman Sachs Made Money Betting Against Their Own Plan

Seeded on Tue Oct 23, 2007 6:16 PM EDT (Bits of News)

Humpty Dumpty investor sat on a wall. Goldman Sachs gave them all a shove - and made money doing it.

business, economy, mortgage, hedge-funds, debt, subprime

Dick Cheney's Halliburton to Profit as Peak Oil Approaches

Seeded on Tue Oct 23, 2007 8:08 AM EDT (Bits of News)

Whatever else it is, Vice President Dick Cheney's old company Halliburton is indisputably one of the top oil service companies in the world. And with oil prices surging, so are Halliburton's profits.

business, iraq, oil, cheney, economy, halliburton

China Sovereign Wealth Fund Could Buy Every US Company

Seeded on Mon Oct 22, 2007 10:11 AM EDT (Bits of News)

While wages in the USA haven't risen in 30 years, in Asia they're going up about 10% per year. The Asians are making money. What will they do with all that money? What they will do is to use their paper US dollars to buy America's valuable assets.

business, china, economy, trade, deficit, debt

Asia Surpassing U.S. in Global Growth

Seeded on Fri Oct 19, 2007 10:48 AM EDT (Bits of News)

U.S. consumption financed by debt is declining along with the value of the U.S. dollar. The IMF World Economic Outlook shows that both China and India are now contributing more to global growth than the U.S.

business, china, economy, imf, asia, debt

Sub-Prime? So Over!

Seeded on Thu Oct 18, 2007 2:29 PM EDT (Bits of News)

Yes, subprime was a mess, but it's been cleared up and tidied away like the trash of beer bottles and bucket bongs after an 18th birthday party.

business, economy, banks, loans, debt, subprime

Enronitis: The United States of Subprime

Seeded on Tue Oct 16, 2007 3:27 PM EDT (Bits of News)

Wall Street has a problem, and that means you have a problem. Its problem is that it can't put a dollar value on its assets. That means they can't put a dollar value on your 401k, IRA, and life savings.

business, economy, wall-street, mortgage, loans, subprime

You Sleep Less than You Think You Do. But an Australian can Sleep 367 Days

Seeded on Tue Oct 16, 2007 10:41 AM EDT (Bits of News)

Research shows that we sleep less than we think we do. One Australian, on the other hand, can snooze for more than a year straight.

health, australia, sleep, psychology, possum

Absolut Diva: The World's Most Expensive Vodka

Seeded on Mon Sep 24, 2007 1:04 PM EDT (Bits of News)

The ultimate in conspicuous consumption - diamond filtered vodka at a million dollars a bottle...

drinks, odd-news, diamonds, vodka, alcohol, jewels

The Unwinding of the Asian Currency Crisis

Seeded on Sun Sep 23, 2007 1:12 AM EDT (Bits of News)

If it wasn't for the Asian crisis there wouldn't have been a Real Estate Bubble in America, and interest rates would be much higher. The fallout from the Asian Currency Crisis is coming to an end.

business, dollar, imf, asia, money, currency