Showing posts with label Education in the United States. Show all posts
Showing posts with label Education in the United States. Show all posts

Thursday, December 28, 2017

Five Things Professors Actually Said In 2017

Via Campus Reform,


Most Americans expect college professors to be beacons of knowledge and wisdom, or at least to exercise more maturity than their teenage students.



Every year, however, Campus Reform comes across professors who unashamedly make outrageous, preposterous, and downright absurd remarks in their classrooms and on social media, denigrating conservatives and their viewpoints.


In 2017, President Trump’s first year in the Oval Office brought academic rage to new heights as professors frequently blasted the Commander-in-Chief and berated his voters, traditional conservatives, and anyone who does not embrace progressivism.


Here are five things that professors actually said in 2017:


1) Prof suggests Texans deserve hurricane for supporting Trump


A University of Tampa professor was so upset about the outcome of the 2016 presidential election that he publicly suggested that Texans deserved Hurricane Harvey because the state voted Republican last year.


“I don’t believe in instant Karma but this kinda feels like it for Texas,” Professor Ken Storey tweeted in August. “Hopefully this will help them realize the GOP doesn’t care about them.”


Shortly after the controversial remarks, the university announced that it had fired the professor.


2) Prof says House GOP ‘should be lined up and shot’


An Art Institute of Washington professor was so furious about the House GOP’s effort to repeal and replace Obamacare that he said GOP lawmakers “should be lined up and shot” for their actions.


“They should be lined up and shot,” Professor John Griffin wrote on his Facebook page. “That’s not hyperbole; blood is on their hands.”


3) Prof calls whites "inhuman assholes," says "let them die"


In June, Trinity College professor Johnny Eric Williams made national headlines after appearing to suggest that the first responders should have let the victims of the congressional shooting "fucking die” because they are white.


“It is past time for the racially oppressed to do what people who believe themselves to be ‘white’ will not do, put end to the vectors of their destructive mythology of whiteness and their white supremacy system. #LetThemFuckingDie,” Williams wrote in a Facebook post, including the hashtag as an apparent reference to an op-ed with the same title that he had shared two days earlier.


Following his controversial remarks, Williams was placed on leave but is slated to return to teaching in 2018.


4) Prof says Otto Warmbier "got exactly what he deserved"


A University of Delaware professor claimed that Otto Warmbier, a young American who died after being held in a North Korean prison camp, “got exactly what he deserved.”


Professor Katherine Dettwyler made her remarks on her personal Facebook page and in the comments section of an article published by National Review.


Dettwyler maintained that Warmbier behaved like a “spoiled, naive, arrogant U.S. college student who never had to face the consequences of his actions” when he visited North Korea, and that he had a “typical mindset of a lot of the young, white, rich, clueless males” she teaches.


5) Drexel prof blames "whiteness" for Texas massacre


George Ciccariello-Maher, an assistant professor at Drexel University who made headlines by calling for “white genocide” last year, was at it again in 2017.


In early November, the academic pinned the blame for the Texas massacre that killed 26 people on what he called “whiteness” and “entitlement.”


“Whiteness is never seen as a cause, in and of itself, of these kinds of massacres, of other forms of violence,” Ciccariello-Maher said in an interview with Democracy Now!, asserting that “whiteness is a structure of privilege and it’s a structure of power, and a structure that, when it feels threatened, you know, lashes out.”









Sunday, November 5, 2017

Donna Brazile Says Clinton Campaign Officials Made Her Feel Like "Patsey The Slave"

The Democratic Party"s nominal support for "identity politics" has once again been exposed as little more than hollow virtue-signaling...


By now, it’s become clear that the Democratic party establishment installed Donna Brazile has the head of the DNC expecting her to be an obedient stooge who would turn a blind eye to the endemic corruption and mismanagement inside America’s oldest major political party. Unfortunately for them, Brazile had no intention of keeping quiet when she discovered that Obama’s negligence had left the party in debt, effectively allowing the Clinton to play a deciding role in doling out resources, setting strategy and myriad other issues.



A year after Trump’s upset victory over Clinton poleaxed the Washington establishment and smug Democratic elitists who felt it was their candidate’s god-given right to effortlessly slide into office despite being one of the most unpopular major-party candidates in recent memory, Brazile is speaking out in a new book, excerpts from which have been published in Politico and the Washington Post.


In one detail printed today by WaPo, Brazile recounts how Clinton’s top aides repeatedly disrespected and demeaned her, which she equated to being treated like a slave.


Brazile alleges that Clinton’s top aides routinely disrespected her and put the DNC on a “starvation diet,” depriving it of funding for voter turnout operations.


 


As one of her party’s most prominent black strategists, Brazile also recounts fiery disagreements with Clinton’s staffers — including a conference call in which she told three senior campaign officials, Charlie Baker, Marlon


 


Marshall and Dennis Cheng, that she was being treated like a slave.


 


“I’m not Patsey the slave,” Brazile recalls telling them, a reference to the character played by Lupita Nyong’o in the film, “12 Years a Slave.” “Y’all keep whipping me and whipping me and you never give me any money or any way to do my damn job. I am not going to be your whipping girl!”



Over the past two days, Brazile has revealed how former DNC Chairwoman Debbie Wasserman Schultz effectively ceded control of the party to the Clinton campaign, which looted funds from state party organizations and restricted the money flowing into the DNC after agreeing to pay off most of its debt.


She also revealed that she considered replacing Clinton with Joe Biden after she collapsed during a ceremony at the 9/11 memorial. But most shockingly of all, she said that she feared for her life after the murder of DNC staffer Seth Rich, which she feared may have been planned by nefarious elements from within the party.









Wednesday, September 27, 2017

Our Crazy-Making, Profiteering Education-Career Maze

Authored by Charles Hugh Smith via OfTwoMinds blog,


The answer is not another $1 trillion in student loan debt to pay for another raft of declining-value credentials.


So let"s say we want to set up a system to help students choose a career that fits their aptitudes and interests. What would we do? How about:


1. Give them zero (or superficial) aptitude and career-related tests.


2. Provide a few minutes with a counselor who knows nothing about them, their aptitudes or potential career-related interests.


3. Design the high school education system to provide near-zero knowledge of finance, debt, economics, how the economy functions and what the world of work demands of workers.


4. Denigrate (subtly or directly) non-college career options, channeling those who aren"t sure into 4-year colleges, higher education paid with student loans designed to maximize profiteering.


5. Force them to choose a major or field of study at 17 or 18 years of age, despite their lack of real-world experience and objective knowledge of how the economy functions and their own aptitudes/character traits.


6. Disconnect this higher education from real-world work places so they exit higher education with little actual knowledge of the skills employers need.


7. When the student graduates after borrowing a fortune and discovers their diploma has low value in the marketplace or is in a field they"ve found they loathe, then suggest the "solution" is to borrow another fortune and invest more years in obtaining another credential.


This is the American education-career maze--ineffective, self-defeating, wasteful, irrational, and apparently designed to maximize student confusion, poor choices and profiteering by higher education and the student-loan racketeers.


As if this wasn"t bad enough, what do we decide to teach our students if careers might be significantly different in 10 or 20 years? Yes, math, the basics of science and communication skills will remain useful as a foundation, but these basics aren"t enough to prepare students for a fast-changing emerging economy/4th Industrial Revolution.


Clearly, it would be enormously beneficial to teach the skills needed to learn on one"s own and adapt successfully to changing circumstances. The current system is a hierarchy of credentialing that enriches those dispensing and funding the credentialing.


Our system"s response to those left behind, those with inadequate skills and those who chose unwisely is always: get another credential, at enormous expense. Nobody tells students that credentials are in over-supply and are therefore losing their value.


Value and profits flow to what"s scarce and in demand. Trying to reach the top of the credential pyramid is a crowded race, and the losers are left with debt and wasted years they could have spent actually learning useful knowledge bases and skills--in effect, pursuing a self-directed path of accrediting yourself.


The education-career maze doesn"t have to be so self-defeating, costly, convoluted or ineffective. My book The Nearly Free University and the Emerging Economy lays out a model of higher education based on workplace apprenticeships in all fields, from carpentry to chemistry to sociology, from Day One, a structure that dramatically lowers costs while providing an education based on real-world acquisition and use of knowledge and skills in the workplace, not sitting in a chair watching a lecture.


Technology is a core part of improving results while lowering costs by 90%. Consider this article: Imagine how great universities could be without all those human teachers.


I describe the process of accrediting yourself in my book Get a Job, Build a Real Career and Defy a Bewildering Economy, which also details the eight essential skills needed to navigate the emerging economy.


What"s the emerging economy/4th Industrial Revolution? It"s not so much the replacement of human labor by robots as the augmentation of human skills with technology, and the focus on a simple but profound source of value creation: what"s scarce and in high demand? What"s abundant and not in demand?


The point of my book is to lay out a pathway of learning how to learn on our own and acquiring the soft skills needed to collaborate, communicate and manage teams/projects effectively, regardless of the field of endeavor.


How can we expect young students with little life experience to choose wisely when they don"t even understand how the economy works? The current education-career maze assumes that some basic math and science knowledge is all students need to figure out their role in a fast-changing economy that they don"t even understand.


The inadequacy of our crazy-making education-career maze boggles the mind. We need to do much, much better, not just for our students but for our society. The answer is not another $1 trillion in student loan debt to pay for another raft of declining-value credentials. We need a new system, and fast. Solutions abound, but not within the current crazy-making education-career maze.


Here"s a snapshot of the workforce"s education level:



Even the most credentialed workers" earnings have stagnated:



And here"s your wunnerful federal government, enforcing debt-serfdom on college students to maximize the profits of the student-loan racket:



If you found value in this content, please join me in seeking solutions by becoming a $1/month patron of my work via patreon.com. Check out both of my new books, Inequality and the Collapse of Privilege ($3.95 Kindle, $8.95 print) and Why Our Status Quo Failed and Is Beyond Reform ($3.95 Kindle, $8.95 print, $5.95 audiobook) For more, please visit the OTM essentials website.

Sunday, July 16, 2017

3 Examples That Show How Common Core Is Destroying Math Education In America

Authored by Michael Snyder via The Economic Collapse blog,


Whenever you let federal bureaucrats get their hands on anything they are probably going to ruin it.  During the Obama administration, the Department of Education spearheaded a transformation of American education that was absolutely breathtaking.  Over a period of about five years, Common Core standards were implemented in almost every state in the entire nation.  Unfortunately, this has resulted in a huge step backward for public education in this country.  Common Core has been called “state-sponsored child abuse”, and it is a big reason why U.S. students are scoring so poorly on standardized tests compared to much of the rest of the world.


According to Wikipedia, at one point 46 states had adopted Common Core, but now some states are having second thoughts…





46 states initially adopted the Common Core State Standards, although implementation has not been uniform. At least 12 states have introduced legislation to repeal the standards outright,[1] and Indiana has since withdrawn from the standards.



Sadly, many parents don’t even understand how dramatically our system of education has been tampered with.  In her book entitled The Education Invasion: How Common Core Fights Parents for Control of American Kids, Joy Pullmann exposes how the Gates Foundation has been one of the key players in the effort to get Common Core introduced into classrooms all over America…





Organized in seven chapters, her book describes how the Gates Foundation promoted and continues to promote one extremely wealthy couple’s uninformed, unsupported, and unsupportable ideas on education for other people’s children while their own children are enrolled in a non-Common Cored private school. It explains how (but not exactly why) the Gates Foundation helped to centralize control of public education in the U.S. Department of Education. It also explains why parents, teachers, local school boards, and state legislators were the last to learn how the public schools their local and state taxes supported had been nationalized without Congressional knowledge or permission; and why they were expected to believe that their local public schools were now accountable for what and how they teach … not to the local and state taxpayers who fund them or to locally-elected school boards that by law are still supposed to set education policies not already determined by their state legislature … but to a distant bureaucracy in exchange for money to their state department of education to close “achievement gaps” between unspecified groups.



But this isn’t just an issue about control.  The truth is that the approach to teaching basic fundamentals such as how to add and how to subtract is fundamentally different under Common Core.


Let me share just three examples that show how much Common Core is changing the way that U.S. students learn math.  All of these examples have been floating around Facebook, and if you have never seen these before they are likely to make you quite angry.


If I asked you to subtract 12 from 32, how would you do it?  Well, the “new way” is much, much more complicated than how we were all taught to do it…



If that first one seemed bizarre to you, than you really aren’t going to like this one…



And this last one was so confusing that a parent with a degree in engineering decided to include his own commentary on his child’s homework…



How are kids supposed to function in the real world if this is how they are learning to do basic math?


Personally, I am going to teach my daughter that 9 + 6 equals 15.  But that isn’t how it is supposed to be done under Common Core.  You can watch a video of a teacher explaining the very convoluted Common Core way to solve that math equation right here.


And of course it isn’t just math that is the problem.  Common Core is systematically “dumbing down” our young people, and that may help to explain why the average U.S. college freshman now reads at a seventh grade level.


So what is the answer?


The first step in fixing our education system is to repeal Common Core.  But even in red states such as Idaho there is a lot of resistance





Since their inception, the Idaho Core Standards have been enmeshed in controversy.



Some legislators and citizens have pushed for a repeal of the Idaho Core Standards, the state’s version of Common Core standards in math and English language arts. Those repeal efforts have gone nowhere in the Legislature.



I don’t know what is wrong with our legislators.  The Republicans have full control in this state, and so there is absolutely no excuse for not getting something done.


As I end this article, I want to give you an idea of just how far the quality of education in America has fallen over the past 100 years.  In Kentucky, an eighth grade exam from 1912 made a lot of headlines when it was donated to the Bullitt County History Museum.  As you can see, it is doubtful whether many of our college students would be able to pass such an exam today…


Friday, July 7, 2017

14 Facts That Show America's System Of Public Education Deserves An 'F' Grade

Authored by Michael Snyder via The Economic Collapse blog,


One thing that almost everyone can agree upon is that our system of public education is broken.  We spend far more money on public education than anyone else in the world, and yet the results are depressing to say the least. 



Considering how much we are putting into education, we should be producing the best students on the entire planet, but it just isn’t happening.  Personally, I attended public schools from kindergarten all the way up through law school, and the quality of education that I received was extremely poor.  Even on the collegiate level, most of the courses were so “dumbed down” that even the family dog could have passed them.  And of course millions of other people all over the country would say the same sorts of things about their own educations.  Many refer to what is happening to our society as “the dumbing down of America”, and if we don’t get things fixed the United States is on course to become a second class nation.


If you believe that I am exaggerating, I would like you to consider the following numbers.  The following are 14 facts that prove that America’s absolutely pathetic system of education deserves an “F” grade…


#1 Somewhere around 50 million students attend public schools in America today.


#2 Education is the most expensive item in 41 different state budgets.


#3 The latest PISA tests show that U.S. students are below average compared to the rest of the industrialized world





One of the biggest cross-national tests is the Programme for International Student Assessment (PISA), which every three years measures reading ability, math and science literacy and other key skills among 15-year-olds in dozens of developed and developing countries. The most recent PISA results, from 2015, placed the U.S. an unimpressive 38th out of 71 countries in math and 24th in science. Among the 35 members of the Organization for Economic Cooperation and Development, which sponsors the PISA initiative, the U.S. ranked 30th in math and 19th in science.



#4 A report from the Educational Testing Service found that American Millennials are way behind Millennials in most other industrialized nations





Half of American Millennials score below the minimum standard of literacy proficiency. Only two countries scored worse by that measure: Italy (60 percent) and Spain (59 percent). The results were even worse for numeracy, with almost two-thirds of American Millennials failing to meet the minimum standard for understanding and working with numbers. That placed U.S. Millennials dead last for numeracy among the study’s 22 developed countries.



#5 According to one very disturbing study, fewer than half of all high school graduates “are able to proficiently read or complete math problems”.


#6 According to U.S. News & World Report, “inflation-adjusted spending per student in American public schools has increased by 663 percent.”


#7 In 2015, the percentage of students in our public schools coming from low income homes crossed the 50 percent mark.  That was the first time that had happened in at least 50 years.


#8 One study found that a whopping 76 percent of all high school graduates “were not adequately prepared academically for first-year college courses.”


#9 The following are five numbers which show how far the quality of college education has fallen in the United States…


  • -“After two years in college, 45% of students showed no significant gains in learning; after four years, 36% showed little change.”

  • -“Students also spent 50% less time studying compared with students a few decades ago.”

  • -“35% of students report spending five or fewer hours per week studying alone.”

  • -“50% said they never took a class in a typical semester where they wrote more than 20 pages.”

  • -“32% never took a course in a typical semester where they read more than 40 pages per week.”

#10 Just 36 percent of all full-time college students receive a bachelor’s degree within four years, and just 77 percent of all full-time college students have earned a bachelor’s degree by the end of six years.


#11 One survey found that nearly 10 percent of our college graduates believe that Judge Judy is on the Supreme Court…


#12 Another survey found that 29 percent of all U.S. adults cannot name the Vice-President.


#13 And yet another survey found that only 43 percent of all U.S. high school students knew that the Civil War was fought some time between the years of 1850 and 1900.


#14 Perhaps worst of all, 75 percent of our young adults cannot find Israel on a map of the Middle East.


This is what happens when we put federal bureaucrats in charge of education.


All over the country there are calls to abolish the Department of Education.  For example, the following was published on CNBC





The DOE currently employs 5,000 government workers and has an annual budget of $73 billion, yet according to the CATO Institute, it has not affected student outcomes in any demonstrable way over its 40-year history . It has successfully created a system that requires educators to teach reams of “politically-correct” content and focus on scoring well on standardized tests.



It has created an atmosphere of testing in our schools, putting intense pressure on teachers and students to “ace the test” rather than mastering the material. This promotes a culture of teaching to the test and score tampering.



Unfortunately, abolishing the Department of Education is not going to be easy, because there is a tremendous amount of money at stake.  And whenever there is a tremendous amount of money at stake, there are going to be very powerful interests that are determined to keep things just the way that they are…





The major stakeholders in K-12 public education are at an impasse. Teachers’ Unions are primarily concerned with self-preservation, maintaining extravagant perks for union administrators and exerting disproportionate political influence. A handful of publishing houses sell us $8 billion worth of warmed- over text books every year. Testing companies collectively spent tens of millions lobbying in states and on Capitol Hill from 2009 to 2014. These politically powerful, entrenched special interests are heavily invested in maintaining the failing status quo.



But even though there is going to be a lot of resistance, I am going to try to abolish the Department of Education anywayI believe that full control over education should be returned to the state and local levels, but that is just the beginning.


Ultimately, we need to rebuild our system of education from the ground up.  Instead of politically-correct indoctrination centers that endlessly pump progressive propaganda into impressionable young minds, we need to transform our public schools into institutions that focus on the essentials.  We need a renewed emphasis on reading, writing, math and the skills that will enable our young people to function successfully once they get out into the real world.


At one time America’s system of education was the best in the world, and we can get there again.  But of course the left is going to fight against the changes that need to be made every step of the way.

Tuesday, May 23, 2017

Thirteen Reasons Why: America’s High Schools Are Creating (Another) Lost Generation

Interested in precious metals investing or storage? Contact us HERE 






Written by Peter Diekmeyer (CLICK HERE FOR ORIGINAL)






Netflix’s recent announcement that it would be producing a second season of Thirteen Reasons Why has raised new questions about the disastrous state of the US public school system and its effects on the economy.




“Hey, it’s Hannah Baker,” says the show’s protagonist, played by a stunning Katherine Langford in the opening episode. “Get settled in. Because I"m about to tell you the story of my life. More specifically, why my life ended.”




The Thirteen Reasons’ portrait of how a stifling, bureaucratic system progressively cuts this teenage girl to pieces, eventually driving her to death, provides a dramatized, insightful reflection on (another) emerging lost generation.




The statistics are grim: a third of 18- to 34-year-olds in the U.S. live at home according to the US Census Bureau. Homeserve USA finds that nearly one in three Americans can’t come up with $500 to fund an emergency. As if that were not enough, according to the US Congressional Budget Office, governments have saddled today’s young with more than $100 trillion worth of pension and healthcare debts.




The harder truth depicted in Thirteen Reasons Why is that today’s high school graduates emerge with few skills, little education and a sanitized view of the world. In short, they are totally unprepared to take on the challenges they face.




Following are Thirteen Reasons Why:



1. Thirteen years in jail



In Thirteen Reasons, Hannah, the bullied protagonist has no way to escape a toxic environment. Her helpless position progressively worsens and eventually drives her to suicide.




Because education is compulsory in the United States, Hannah lives in a de facto prison. She cannot change schools or classes without parental approval and undergoing a humiliating bureaucratic process.




An education system that prioritized learning would put students at the center, leaving them free to choose their schools, classes, teachers and programs.



2. American kids can’t vote



The challenges facing American kids are exacerbated by the fact that they aren’t allowed to vote. They thus have little stake in the system, no sense of responsibility and adopt a de facto poise of helplessness.



3. Students come last



None of the dozen studies reviewed for this article assessed the US public education system based on students’ needs.




Governments prioritize public education based on its effects on national competitiveness. Businesses focus on getting skilled workers (whose training they don’t want to pay for). Teachers’ unions focus on salaries and working conditions.




The upshot is that students’ interests come last.



4. Bloated administrations



America spends more per student than any other country yet ranks 14th in terms of results, behind Russia. Must of this is due to legions of highly-paid administrators that clog the system with rules, regulations and forms, few of which prioritize education.




5. Kids taught to worship government; shun individual responsibility



The young have always been concerned with social causes. It’s thus hardly surprising that teachers would encourage students to prioritize government’s role in healthcare, welfare and environmental regulation.




However today’s public schools offer essentially no counter arguments about individual responsibility.




High school graduates thus emerge as easy prey for politicians who claim that near-unlimited government spending and borrowing are the cure for the nation’s problems. (See the Krugman con).




6. Public schools teach no marketable skills



The greatest indictment of the public school system’s actual performance relates to the fact that students graduate with no marketable skills.




If America’s kids emerged from schools able to read, write, do basic math, type, work as a team and use a half dozen common software packages, they would have something to show for their 13 years in the slammer.




7. Banning Ayn Rand and Huckleberry Finn



Socrates’ motto at the Agora was to “question everything.” However public schools prioritize politically correct doctrine that consciously excludes key ideas and concepts.




Ayn Rand, the most important philosopher of the 20th century, is essentially banned from the public system, as is Mark Twain’s Huckleberry Finn, which Hemingway cited as the root of American literature. History teaching in America, as Niall Ferguson has noted, is sanitized to the point of rendering it almost counterproductive.




8. State-directed curricula: one size fits all



Students vary as do the communities they live in. However a disproportionate amount of teaching is dictated by bureaucrats. This leaves teachers little flexibility to adjust based on students’ needs.




These differ based on whether the school in located in poorer neighborhoods where many students come from single family homes, or in upper middle-class professional communities where traditional family structures are more common.




9. Kids graduate clueless about finances



Public schools teach essentially nothing about managing money, likely the single most important life skill a kid could have. Students graduate thus thinking that borrowing is fine.




This leaves them prey to America’s biggest predatory lenders: big universities, which have managed to saddle youth with $1.2 trillion worth of debts, many of whom have little to show for it.




10. “Hoop jumper” worship: drives out the talented and curious



One of the biggest weaknesses in public and private schools is their collective worship of “hoop jumpers,” - that universal collection of the obsequious sorts that clutter Dean’s lists and other “Top Students” awards.




This wouldn’t be a problem if schools were able to correctly identify top performers. However heavy state-defined curricula force teachers to “teach to the test.”




This leads to the advancement of drone-like students who are able to recite mindless data, massaged concepts and formulas, and more dangerously: with the need to guess and kow-tow to what teachers want them to say.




Worse, in two centuries of public schooling, teachers still fall for that old trap of giving the best marks to kids with nice hand-writing or to math students who get the wrong answer but manage to “show their work.” Students who challenge conventional thinking are smiled at and given a B.




The upshot is the students with drive, curiosity and creativity are quickly driven out.




The number one students - like John Maynard Keynes, the father of modern economics, who taught that the best way to get rich was to spend more than you earn - rocket through the system, and now run the nation’s central banks and university economics departments.




You get the picture.




11. Powerful unions



In a world in which students are stuck in de facto prisons, teachers, who spend more time with them than their parents do, ought to be their biggest backers. They aren’t.




Teachers thus need to accept the lion’s share of the blame for the disastrous state of American schools.




That blame starts with the fact that teachers’ first priority has been to band into powerful unions, which put salaries, benefits and vacation time first and students’ interests last.




12. Millionaire teachers



True, teachers perform one of society’s most useful functions. However during a time of strained public finances students’ needs must come first - not teachers’ salaries.




The teachers’ unions have been hugely successful. Median compensation for US workers is $28,900. Teachers earn $58,000, almost double that amount.




The gap between teachers and those communities they teach in is exacerbated by the fact that gold-plated, state-guaranteed pensions mean that public school teachers generally retire as millionaires.




If teachers were paid at market rates, there would be more money available to fund students’ needs such as smaller class sizes, libraries and computers.




13. Mediocre teachers that can’t be fired



Teachers begin their careers ranked among most socially-committed of any professionals. But as with any human beings, a change takes hold of teachers once they acquire tenure and can no longer be fired.




Office hours and volunteer activities shrink, emails from students and parents are returned slower, if at all. The upshot is that many of the best teachers decline towards mediocrity as their careers advance.




*****




The takeaway for the alternative investors, who wonder how the American public could so easily fall for politicians, economists and central bankers that are running US productivity into the ground, the answer is clear.




America’s public schools may be leaving their graduates incapable of assessing the stakes.



Questions or comments about this article? Leave your thoughts HERE.








Written by Peter Diekmeyer (CLICK HERE FOR ORIGINAL)

Tuesday, April 4, 2017

Richmond Fed President Lacker Resigns After Admitting He Leaked Confidential Fed Information

We can now close the case on who leaked that confidential, market-moving data to Medley global back in 2012: it was Richmond Fed"s Jeffrey Lacker, who previously was expected to retire in October, and  is resigning immediately.


In a statement, Lacker confirms he revealed confidential FOMC information to Medley Global. His full statement is below:





Statement Of Dr. Jeffrey Lacker



During the past 13 years it has been my privilege to serve as President of the Federal Reserve Bank of Richmond. It has also been an honor to contribute to the development of our nation"s monetary policy as a member of the Federal Reserve"s Federal Open Market Committee ("FOMC").



While transparency of the monetary policy process is important, equally important are the confidentiality policies that protect the internal deliberations of the FOMC and ensure the integrity of our financial markets. The Federal Reserve"s confidentiality policies seek to guide participants in maintaining the balance between transparency and confidentiality. The FOMC has had in place for many years two specific policies relating to confidentiality. the FOMC Policy on External Communications of Committee Participants (the "External Communications Policy-) and the Program for Security of FOMC Information (the "Information Security Policy").



In 2012, my conduct was inconsistent with those important confidentiality policies. Specifically, on October 2, 2012, I spoke by phone with an analyst ("the Analyst") concerning the September 2012 meeting of the FOMC. The Analyst authors reports on Federal Reserve matters on behalf of Medley Global Advisors ("Medley"). Medley publishes macro-economic policy intelligence for institutions such as hedge funds and asset managers and is owned by the Financial Times Limited.



During that October 2, 2012 discussion, the Analyst introduced into the conversation an important non-public detail about one of the policy options considered by participants prior to the meeting. Due to the highly confidential and sensitive nature of this information, I should have declined to comment and perhaps have ended the phone call. Instead, I did not refuse or express my inability to comment and the interview continued. Additionally, after that phone call I did not, as required by the Information Security Policy, report to any FOMC personnel that the Analyst was in possession of confidential FOMC information. When Medley published a report by the Analyst the following day, October 3, 2012, it contained this important detail about one of the policy options and I realized that my failure to decline comment on the information could have been taken by the Analyst, in the context of the conversation, as an acknowledgment or confirmation of the information.



I deeply regret the role I may have played in confirming this confidential information and in its dissemination to Medley"s subscribers. In this episode, as in all of my communications with analysts, journalists and the public, it was never my intention to reveal confidential information. I further acknowledge that through this and other conversations with the Analyst, I may have contravened the External Communications Policy, which prohibits providing any profit-making person or organization with a prestige advantage over its competitors.



Following these events, I was interviewed on December 10, 2012, as part of an internal review conducted by the General Counsel of the FOMC. In advance of that interview, on December 6, 2012, I provided written responses to a questionnaire issued by the General Counsel seeking, among other things, all relevant information regarding my communications with the Analyst. Althoug it was my intention to cooperate fully with the internal review, I regret that I did not disclose to the General Counsel, either in my December 6, 2012 questionnaire or the December 10, 2012 interview, that the Analyst was in possession of confidential information during my conversation with her on October 2,2012.



In 2015, I was interviewed again as part of a separate investigation conducted by the United States Attorney"s Office for the Southern District of New York, the Office of the Inspector General of the Federal Reserve Board, the Federal Bureau of Investigation, and the U.S. Commodity Futures Trading Commission. In this subsequent 2015 interview with law enforcement officials, I did disclose that the Analyst was in possession of confidential information during my October 2. 2012 conversation with her.



I apologize to my colleagues and to the public I have been privileged to serve. I have always strived to maintain the appropriate balance between transparency and confidentiality, but I regret that in this instance I crossed the line to confirming information that should have remained confidential. I previously announced my intention to retire as President of the Federal Reserve Bank of Richmond in October 2017, and in light of these matters I have decided to make my departure from the Federal Reserve effective today.



The Richmond Fed made the following announcement moments ago, which suggests that Lacker did not leave voluntarily:





The Federal Reserve places a high priority on safeguarding information. We expect every employee to comply with all relevant policies and procedures, as well as our standards of conduct. Employees must review and acknowledge our policies annually. Once our Bank’s Board of Directors learned of the outcome of the government investigations, they took appropriate actions.



We are focused on moving forward within our organization—and were already underway with our presidential search, following Jeffrey Lacker’s announcement in January to retire in 2017. This search process will continue as scheduled. In the interim, First Vice President Mark Mullinix is serving as the Bank’s acting president.



This shocking event comes just hours after Chairman of the House Financial Services Committee Jeb Hensarling demanded that "American Households Should Demand a More Reliable Governance Structure for the Fed."


While it is unclear if Lacker will now face criminal prosecution for leaking material information - recall the FBI has been probing the Fed"s 2012 leak to Medley since 2015, this is great news for Janet Yellen, who was personally close with Medley"s Regina Schleiger, ther person at the center of the Fed leak scandal, as the Fed Chair is now off the hook.