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Global Economy Bursting?

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Which States Have Worst Underemployment?

http://blogs.wsj.com/economics/2012/07/30/which-states-have-worst-underemployment/

California ain’t having a great summer. Its economy remains crippled by the housing bust. Its unemployment rate is the nation’s third-highest, after Nevada and Rhode Island. And officials in four of its cities — Stockton, Mammoth Lakes, Compton and San Bernardino — recently filed or indicated they might file for bankruptcy protection. Well, here’s one more not-so-golden medal for the Golden State: It has the worst involuntary-part-time-worker problem.

According to new Labor Department figures, California’s average unemployment rate from July 2011 through June 2012 was 11.2% … but its broader “under-employment” rate was a whopping 20.3%. While it’s the government’s unemployment rate that moves headlines every month — the latest, for July, comes out Friday — the “under-employment” rate, or “U-6” rate includes everyone else affected by the moribund job market.
 
So tell me this, Couch, why has the drop out rate increased over the years in high school and college? Is it the curriculum?


California Statewide Graduation Rates - Year 2011 (CA Dept of Education)

http://www.cde.ca.gov/nr/ne/yr11/yr11rel54.asp

Statewide Graduation Rate of 74.4 Percent

State Superintendent of Public Instruction Tom Torlakson announced today that nearly three out of four California students who started high school in 2006 graduated with their class in 2010, with slightly more than 18 percent dropping out rather than completing their K–12 educations.

The graduation and dropout rates continue to show a significant achievement gap between students who are Hispanic, African American, or English learners and their peers. The 74.4 percent statewide graduation rate and 18.2 percent statewide dropout rate—as well as rates calculated for counties, districts, and schools across California—were for the first time based on four-year cohort information collected about individual students using the state's California Longitudinal Pupil Achievement Data System (CALPADS).


Los Angeles graduation rate 61%

http://www.cpec.ca.gov/StudentData/HSGradReport.asp?Area=RegionM

YES! The curriculum presented in most high schools is designed to meet the needs of white children in New England and so are the tests by which students are judged. Sure, there are other factors but the primary reason is the inappropriate nature and structure of the curriculum. It stifles creativity and extinguishes the desire to learn before the students even reach high school.

If you want to understand what I am talking about, contact my former student.
 
YES! The curriculum presented in most high schools is designed to meet the needs of white children in New England and so are the tests by which students are judged. Sure, there are other factors but the primary reason is the inappropriate nature and structure of the curriculum. It stifles creativity and extinguishes the desire to learn before the students even reach high school.

If you want to understand what I am talking about, contact my former student.

Well then, the only solution is to make algebra and higher levels of math optional, non-core, for graduating high school.

What about science? Does that stifle creativity or extinguish the desire to learn?
 
Crop Progress

ISSN: 1948-3007
Released July 30, 2012, by the National Agricultural Statistics Service
(NASS), Agricultural Statistics Board, United States Department of
Agriculture (USDA).
Pasture and Range Condition - Selected States: Week Ending July 29, 2012
[National pasture and range conditions for selected States are weighted
based on pasture acreage and/or livestock inventories]
----------------------------------------------------------------------------
State : Very poor : Poor : Fair : Good : Excellent
----------------------------------------------------------------------------
: percent
:
Alabama ........: 5 21 41 32 1
Arizona ........: 38 31 21 8 2
Arkansas .......: 54 30 12 4 -
California .....: 25 50 25 - -
Colorado .......: 48 34 16 2 -
Connecticut ....: - 21 43 36 -
Delaware .......: 26 34 26 14 -
Florida ........: 1 2 15 60 22
Georgia ........: 7 24 46 22 1
Idaho ..........: 9 21 32 37 1
Illinois .......: 70 25 4 1 -
Indiana ........: 61 28 9 2 -
Iowa ...........: 55 27 15 3 -

Kansas .........: 55 33 11 1 -
Kentucky .......: 32 26 31 10 1
Louisiana ......: 1 7 27 57 8
Maine ..........: - 16 37 47 -
Maryland .......: 14 23 35 26 2
Massachusetts ..: - 35 53 12 -
Michigan .......: 30 42 21 6 1
Minnesota ......: 15 21 28 32 4
Mississippi ....: 2 13 27 50 8
Missouri .......: 83 15 2 - -
Montana ........: 30 25 33 12 -
Nebraska .......: 51 32 14 3 -
Nevada .........: 52 30 11 6 1

New Hampshire ..: 5 4 26 55 10
New Jersey .....: 5 15 60 20 -
New Mexico .....: 42 37 18 3 -
New York .......: 23 39 28 10 -
North Carolina .: 4 17 41 35 3
North Dakota ...: 8 30 38 23 1
Ohio ...........: 32 36 26 6 -
Oklahoma .......: 24 40 28 8 -
Oregon .........: 2 12 36 44 6
Pennsylvania ...: 14 31 37 14 4
Rhode Island ...: - 12 63 25 -
South Carolina .: 3 13 45 38 1
South Dakota ...: 24 37 30 7 2
Tennessee ......: 15 30 39 15 1
Texas ..........: 18 26 34 18 4
Utah ...........: 13 28 36 23 -
Vermont ........: - 21 46 33 -
Virginia .......: 14 22 33 30 1
Washington .....: - 11 25 50 14
West Virginia ..: 3 21 54 21 1
Wisconsin ......: 35 27 24 12 2
Wyoming ........: 48 30 18 4 -
:
48 States ......: 29 28 26 15 2
:
Previous week ..: 26 29 27 16 2
Previous year ..: 20 16 23 33 8
----------------------------------------------------------------------------
- Represents zero.
Range conditions are a good proxy for the weather and this year is worse than last. It is drier...only slightly hotter. It possibly has surpassed the early 50's and is most comparable to 1934 and 1936... 1934 being the hottest year on record in the U. S. (dispite what global warming fans would have you believe)...

The impact on the economy will be severe. Cattle prices and meat prices will increase. BTW, if you noticed hamburger is much higher, remember that the "pink slime" additive (which is fine textured meat..clean but from less desirable places on the cow so to speak) is no longer being used. Poultry numbers will be down due to higher losses from heat, high corn prices, and squeezed margins from the producers. They will process the chicken at slightly lower weights to reduce that marginal addition of feeding the chicken a few more days. Grain prices go up. Imports go up. Trade deficit suffers.... There are a huge host of economic downside to this drought...come on El Nino....
 
Municipal bankruptcy: The New Plan

California's state and local governments are systemically set up to be financial disasters.

So what can be done? We can start by asking why the Federal Reserve cannot refinance municipalities to preserve essential services at interest rates comparable to what it gave to rescue the insolvent banks that created this mess. And it is high time officials moved boldly to force the banks to break off the chain of disastrous swap contracts that have cost local authorities and states so much money.

Wall Street has consistently helped elected officials mask budgetary problems with complex derivatives that create the appearance of cash flow today by selling years of future revenue. The only purpose for these securities is to deceive the public and create fees for the financial firms.

California experienced this type of treachery firsthand in the 1990s when Orange County declared bankruptcy after being sold highly risky securities by Merrill Lynch.

Vocker-Ravitch task force's call for reforming budgetary systems in the states to make them accountable and transparent and expose financial scams to deter their widespread use.

__________________

Who would have thunk? Politicians and Wall Street are in bed together looting the public treasury. Shocking! Gambling is Casa Blanca!
 
America's Spain: California

http://community.nasdaq.com/News/2012-07/americas-spain-california.aspx?storyid=159889

How safe are municipal bonds? The correct answer is that it depends on who you ask.

Politicians say munibonds are still a good bet. Credit raters say that a AAA-rated bond is safer than a B- rated bond and actual credit risk is relative. Financial intermediaries (salespeople) promote munibonds (Nasdaq: FHIGX) for their tax free income.

Let's take a quick look at California to see what's really happening in the $3 trillion munibond market.

Case Study: The Republic of Kalifornia

California is home to 37 million Americans and is a case study in fiscal insanity. On November 16, 2011, the Office of Legislative Analyst released a report forecasting a budget deficit of $3 billion at the end of 2011-12 and an operating shortfall of $9.8 billion by 2012-13.

Today, California's actual budget deficit is now a $16 billion headache (up from $9 billion in January).

Instead of tackling debt, California lawmakers approved a $68 billion project to build a high-speed train connecting Los Angeles and San Francisco. (A flight from L.A. to S.F. takes about one hour and costs around $100 one way vs. a 10 hour drive.) Interestingly, the approval allowed the state to collect $3.2 billion in federal funding that would've otherwise been rescinded. The federal government rewarded California for needless spending projects, leaving U.S. taxpayers on the hook!

Like many states, California is burdened by falling tax revenue, a $3.6 billion unfunded liability (per capita) for retirement benefits and rising Medicaid costs.

Lack of employment is something California and Spain both share in common. According to Department of Labor Department figures, California's average unemployment rate from July 2011 through June 2012 was 11.2%.

But its broader "under-employment" rate was an elevated 20.3%. Translation: Income tax revenue cannot increase with an employment market this weak.

To solve its financial problems, Gov. Jerry Brown ( D ) wants California voters to approve "temporary" tax increases on the highest income earners along with the sales and use tax rate by 0.5%. The vote is set for November 2012. Will other states copy California by trying to coax taxpayers into paying higher taxes?

California may be an extreme example of the fiscal challenges facing states, but it's still a good representation of big problems elsewhere.

The bankrupt city of San Bernardino offers munibond investors another look - a more localized snapshot of financial incompetence.

Despite these serious flaws, politicians and credit analysts continue to laud munibonds for their "historically low default rates." And like sacrificial lambs, the dumb money is listening. Asset flows into munibond mutual funds through the first six months of 2012 is on pace to match or surpass the record years of 2009-10.

Highly populated cities with large deficits like Cincinnati, Detroit, and Los Angeles look poised to follow San Bernardino's lead to financial oblivion.
 
YES! The curriculum presented in most high schools is designed to meet the needs of white children in New England and so are the tests by which students are judged. Sure, there are other factors but the primary reason is the inappropriate nature and structure of the curriculum. It stifles creativity and extinguishes the desire to learn before the students even reach high school.

If you want to understand what I am talking about, contact my former student.

This Is How Much Education It Takes To Become A Creative Genius

http://www.businessinsider.com/how-...est-creative-geniuses-of-all-time-need-2012-7

The world's greatest creative geniuses all needed about a college-dropout level of formal education.

Via Talent Is Overrated: What Really Separates World-Class Performers from Everybody Else:

Dean Keith Simonton, a professor at the University of California at Davis, conducted a large-scale study of more than three hundred creative high achievers born between 1450 and 1850—Leonardo da Vinci, Galileo, Beethoven, Rembrandt, for example.

He determined the amount of formal education each had received and measured each one’s level of eminence by the spaces devoted to them in an array of reference works. He found that the relation between education and eminence, when plotted on a graph, looked like an inverted U: The most eminent creators were those who had received a moderate amount of education, equal to about the middle of college. Less education than that—or more—corresponded to reduced eminence for creativity.
 
Another Reason Why College Is Becoming A Waste Of Time

http://www.businessinsider.com/another-reason-why-college-is-becoming-a-waste-of-time-2012-6

My hypothesis is that it is precisely the dumbing down of U.S. education over the last decades that explains the increase in willingness to pay for education. The mechanism is diminishing marginal returns to education.

Typical graduate business school education has indeed become less rigorous over time, as has typical college education. But typical high school education has declined in quality just as much. As a result, the human capital difference between a college and high-school graduate has increased, because the first increments of education are more valuable on the job market than the later ones. It used to be that everybody could read and understand something like Orwell’s Animal Farm, but the typical college graduates could also understand Milton or Spencer. Now, nobody grasps Milton but only the college grads can process Animal Farm, and for employers the See Spot Run–>Animal Farm jump is more valuable than the Animal Farm–>Milton jump.

So the value of a college education has increased even as its rigor has declined, because willingness to pay for quality is really willingness to pay for incremental quality.
 
U.S. Graduation Rate Continues Decline

http://www.edweek.org/ew/articles/2010/06/10/34swanson.h29.html

Every school day, more than 7,200 students fall through the cracks of America's public high schools. Three out of every 10 members of this year’s graduating class, 1.3 million students in all, will fail to graduate with a diploma. The effects of this graduation crisis fall disproportionately on the nation’s most vulnerable youths and communities. A majority of nongraduates are members of historically disadvantaged minorities and other educationally underserved groups. They are more likely to attend school in large, urban districts. And they come disproportionately from communities challenged by severe poverty and economic hardship.

A dominant theme in debates over high school reform, many of which have unfolded in the pages of Diplomas Count and Education Week, has been the need for hard, objective data on graduation rates. Such information provides needed insights on the severity of the challenges facing the schools at a given point, the groups and communities hit particularly hard by the crisis, the trajectory of change over time, and the effectiveness of efforts aimed at boosting graduation and preparing students for college and careers after high school. Yet that information has proved surprisingly hard to come by. Filling that knowledge gap and providing the public with detailed information on graduation rates and trends are among the primary goals of Diplomas Count.

By combining original analysis from the EPE Research Center with historical data published by the Education Department, this year we were able to follow the trajectory of high school graduation over a period of nearly 140 years, a span of time that has witnessed the birth, growth, maturity, and, some would argue, the increasing obsolescence of American secondary education as we now know it.

Secondary schooling in the United States started as an essentially elite pursuit, with a mere 2 percent of the population acquiring the equivalent of a high school education in 1870, the earliest year for which data are available. It was not until several decades into the 20th century that Americans witnessed a quantum leap in engagement with high school, a transformation propelled by the ever-more-rapid industrialization of the U.S. economy and a continuing shift away from the nation’s agrarian past.

The share of the population with a secondary education increased threefold from 1920 to 1940, when, for the first time, a slim majority of American youths graduated from high school. Finishing high school became more firmly established as a social and educational norm in postwar America, as the graduation rate rose steadily through the 1950s and 1960s. Completion rates peaked in 1969, with 77 percent of that high school class earning diplomas.

The next three decades were marked by a retreat from those historical highs; the graduation rate eroded incrementally at certain times and fell significantly at others, including a sharp drop during the first half of the 1990s. Although the nation regained some ground between the late 1990s and 2005, the graduation rate now stands at about the same level as it did in the early 1960s.

A snapshot of contemporary results for the high school class of 2007 reveals a striking pattern of disparities that have long characterized high school completion. Reminiscent of the inequities in other fundamental outcomes such as test scores, we find stark divides in graduation along the lines of race, gender, and regional geography, as well as school and community environment.

And, the gap between high- and low-performing states remains alarming. The national leaders—Iowa, New Jersey, North Dakota, Vermont, and Wisconsin—each graduate more than 80 percent of all high school students. At the opposite end of the spectrum, fewer than 55 percent of students finish high school in Nevada, New Mexico, and South Carolina. A gap of 42 percentage points separates the top and bottom states. Overall, about half the states have graduation rates in the 65 percent to 75 percent range for the class of 2007.

All else being equal, population growth among groups with low average graduation rates will tend to suppress improvements in the overall graduation rate. Pertinent to the case of high school completion: The size of the Latino student population, whose graduation rate currently lags 21 percentage points behind that of non-Hispanic whites, has grown by 50 percent in the past decade alone.

Put simply, the challenge of improving high school graduation rates is analogous to swimming upstream against a rapid and generally unfavorable demographic current. Many observers would argue that there is room for considerable improvement across the entire student population. The seemingly paradoxical findings noted here, however, would further suggest that targeting intervention efforts intensively on rapidly growing and low-performing student groups will be a precondition for driving meaningful change in the graduation rate at a national level.

A deeper engagement with hard data provides another important insight with implications for national reform efforts. The effects of the dropout crisis are widespread, affecting every state and corner of the country to some extent. But its most dire consequences are disproportionately concentrated in a relatively small number of places.

The EPE Research Center’s series of Cities in Crisis reports turned a national spotlight on the challenges faced by major metropolitan areas and the large disparities in graduation rates found between the urban cores of those regions and neighboring suburban communities. Those metro areas, which serve a large share of all public school students, exert a strong influence on the state of the nation as a whole. Other researchers, most notably Robert Balfanz and his colleagues at Johns Hopkins University and the Everyone Graduates Center, have similarly noted the national significance of “dropout factories” the lowest-performing tier of American high schools.

In Diplomas Count 2010, we seek to identify the individual school systems at the epicenter of the dropout crisis, by leveraging the research center’s comprehensive database of district graduation rates and conditions. By combining information about the graduation rate and school enrollment patterns, we can calculate the number of students failing to complete high school with a diploma for every school system in the country.

The U.S. public education system consists of roughly 14,000 regular school districts, about 11,000 of which serve students at the secondary level and, therefore, produce graduates and dropouts. The research center ranked those 11,000 systems according to the number of dropouts they produce.

The analysis reveals a surprisingly concentrated dropout crisis. Among those school systems, a mere 25 districts account for one in every five nongraduates for the entire nation, or more than a quarter-million students who fail to graduate. Put another way, those 25 top-ranked systems, in terms of dropouts produced, account for as many nongraduates as the 8,400 lowest-ranked districts combined.

Those epicenters of the dropout crisis are made up of a combination of traditional big-city districts and large countywide school systems. Many of the latter are home to major urban centers. The New York City public school system, the nation’s largest district, serves 1.1 million students and predictably emerges as the leading source of nongraduates, with nearly 44,000 students slipping away each year. Despite its smaller size, the 678,000-student Los Angeles Unified generates a comparable number of dropouts, owing to a graduation rate 14 points lower than in New York City. Ranked third in the nation is Clark County, Nev., which includes Las Vegas. Chicago and Miami-Dade County, Fla., round out the top five.
 
It is no coincidence the peak graduation rate occurred the year before the first wave of students who had "the new math" in elementary school hit the high school level. The biggest problem with our educational system is all the schemes to make it "better" are destroying it. It stead of "no child left behind" we needed "no more department of education."
 
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