Global Economy Bursting?

[Randolph Kinney]

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."

Strange, the data suggests that there is a racial component for student graduation rates. Also the data supports the notion that super large school districts have a problem with lower graduation rates.

I'm all for dumbing down the curriculum for high school so that everyone has the same statistical probability of graduation; let the student choose the courses with no required courses for graduation. More art, dance, theatre, music, orchestra, sports, speech, literature, languages, history, etc. should be offered so that expression and creativity is stimulated.

 

[Randolph Kinney]

As California's cities go bankrupt, will they emerge safer?

http://www.irishcentral.com/story/n...ankrupt-will-they-emerge-safer-164513236.html

The world is paying attention to California's cities as they start to topple like dominoes into bankruptcy. Many of them are reeling from a deflation in real estate values which saw their sources of revenue shrink. But due to long term deals they made while they were flush, they have not been able to reel back on spending outlays in order to adjust to the new economic realities.

Sports stadiums, boat harbors, new municipal buildings, fleets of brand new vehicles and generous labor contracts with their unionized municipal employees have brought them to their knees economically. Many others are on one knee, begging the state or the federal government to step in and help. But of course this is akin to asking the economically blind to lead the economically blind. The cities are a microcosm of spending by the state and federal government. But they can't, like the federal government, print more money, or in the case of the state, issue as many debt obligation bonds or push off debt into the future.

Stockton, San Bernadino, Mammoth Lakes and Compton California, all have recently filed for bankruptcy protection. But experts believe they are just the tip of the iceberg as the recession still has a grip on the golden state. Other cities have been proactive in dealing with their back breaking unionized public workers wages and benefits as their citizens voted to rein in the unions power.

 

[Couch Potato]

Strange, the data suggests that there is a racial component for student graduation rates. Also the data supports the notion that super large school districts have a problem with lower graduation rates.

I'm all for dumbing down the curriculum for high school so that everyone has the same statistical probability of graduation; let the student choose the courses with no required courses for graduation. More art, dance, theatre, music, orchestra, sports, speech, literature, languages, history, etc. should be offered so that expression and creativity is stimulated.

Nobody in the district where I grew up wants to be in high school four years these days! It only has grades 10-12 as was once quite common in many areas. Of course when I was there high school was 8-12 so four years was either a sign of early graduation or dropping out.

Imagine all those years there were no Asians in or schools the suddenly they are present and doing great.

 

[Big ole Boy]

India economy slowing due to higher energy costs

Electricity grids fail across half of India

http://bigstory.ap.org/article/indian-power-official-says-northern-grid-collapses-second-day-row





"The blackouts came amid consumer anger with the recent increase in power fees, including a 26 percent hike in Delhi, that government officials said were needed to pay for the steep rise in fuel costs."


Evidence is in: For the world economy to grow - energy costs have to come down.

Saudi Arabia/OPEC - may have to lower thier target price for a barrel of oil ($80) to something less to keep countries like India and the EU affloat. The bad weather in India (lack of monsoon activity) - may be the canary pointing to investment speculators that oil prices must come down.

Reminds me of squeezing an orange - those Shieks in Arabia and "other power Shieks" - domestic supply Shieks have a constant supply of blood on their hands.


Fed not likely offer new stimulus due to signs of US consumer strength.

What a crock - everything is manipulated - I would not be surprised if the power grid in India went down to make some investor able to position himself for a fall in oil prices.

American stocks should be lower on Wednesday - lots and lots of profit taking.

 

[Terrel L. Shields]

The Monsoons are running late this year...could be Sept before they arrive

 

[Randolph Kinney]

California approaching 'golden' status - the next crisis

http://www.sfgate.com/health/article/California-approaching-golden-status-3751781.php

The Golden State's residents are reaching their golden years at a greater rate than the nation as a whole. California is aging faster than the rest of the United States because it has a higher percentage of Baby Boomers, people born between 1946-1964, than the country as a whole. Here are the numbers:

 

[Randolph Kinney]

California weighs giving away more CO2 permits

http://www.reuters.com/article/2012/08/01/us-california-carbon-idUSBRE8700BS20120801

In an effort to dissuade companies in key industries facing new carbon costs from leaving the state, California is considering giving them millions of dollars worth of additional free greenhouse gas allowances, state's air regulator said on Monday.

California's cap-and-trade program seeks to emulate tactics used in the European Union and Australia to address emission "leakage" - a term describing the exodus of employers from a state or country in order to sidestep environmental costs.

The California Air Resources Board (ARB), the regulator of the forthcoming program, held a workshop in Sacramento on Monday where it discussed plans to give away more free permits to prevent leakage in "trade-exposed" industries like cement production, oil refining and food processing.

_______________

Too late, cement companies have left. But, the threat is real for oil refining and for companies that are sensitive to electricity prices.

AB 32, Global Warming Solutions Act, is causing people and businesses to leave California. The flow will increase in 2013 and turn to a flood in 2014.

Up to six California refineries can be expected to shut down.

 

[Randolph Kinney]

California to Western States: Keep Your Renewables

http://www.kcet.org/news/rewire/the-grid/california-to-west-keep-your-renewables.html

For the last few years California has been telling neighboring states that they shouldn't bank on selling renewable power to the West's most populous state. It's taken a while, but it looks as though the message is starting to sink in.

According to a story in yesterday's Las Vegas Review Journal, Nevada Senator Harry Reid is now pressuring the Silver State's largest utility, NV Energy, to agree to buy solar electricity from a planned photovoltaic installation and solar panel factory outside of Laughlin. The $5 billion Chinese-backed ENN Mojave Energy project was drafted on the assumption that it would supply power to California utilities. Reid's leaning on NV Energy shows that Nevada's powers-that-be have realized that isn't going to happen.

The Nevada utility is reluctant to commit to buying power from ENN Mojave Energy because it's already met the state's Renewable Portfolio Standard (RPS). NV Energy derives 15% of its power from renewable sources, including the recently launched First Solar Silver State project astride the California line in the Ivanpah Valley and -- when it's completed -- the Crescent Dunes Solar Energy Project near Tonopah.

It's understandable that western states would think of California as a potential customer for renewable energy. California consumes about 259,000 gigawatt-hours of power a year, more than the states of Arizona, Nevada, Utah, Oregon, New Mexico, Idaho, and Wyoming combined.

The problem is that California's Renewable Portfolio Standard introduces a significant obstacle to power imports from other states. Tracking the percentage of each utility's power that comes from renewables is nearly impossible unless the power source is directly hooked up to California's grid.

 

[Randolph Kinney]

As California Founders, It's Time For A Tax Cut In Texas

http://www.forbes.com/sites/briando...a-founders-its-time-for-a-tax-cut-in-texas-2/

The public finance news out of California is slipping from grim to bleak. First Stockton in the Central Valley declared bankruptcy. Then, San Bernardino followed suit. Now we learn that Victorville, its neighbor in the inland empire east of Los Angeles, is not only going belly-up, but is facing an S.E.C. investigation for practicing some fiscal sleight of hand.

Municipalities in California are running out of money, and there is little chance in the coming years that they will cover their behemothic pension obligations to city workers by the tens of thousands. The developing drumbeat of failures in medium-sized places you’ve sort of heard of—Stockton…San Bernardino…Victorville—means the resounding crash of big names—San Francisco…Los Angeles…San Jose—can’t be far behind.

Then there’s Sacramento, where the state government sits, and where the legislature just blessed a passenger-rail boondoggle that will surely cost $100 billion. Plus there’s Governor Jerry Brown’s oppositionless proposal to raise the top rate of the state income tax to over 13%, highest in the nation.

“Heads up” to residents, actual and potential: Your property taxes (to cover municipal obligations) are going to make a huge increase over the coming years; your income taxes are in the process of doing the same; and the money is going to be blown on civil-service lifers when not white-elephant spending projects. Ergo: get out while the getting is good.

Lately California has been losing residents by the millions, replaced in part by immigrants living a dozen to an apartment. It’s giving this nation the prospect of something it’s never really had: a feudal-like society where there are moneybags and support staff and little in between.

One of the places those hard-hit residents have been scurrying to is Texas. The Texas economy has sailed most impressively through the Great Recession, with GDP up 7% since the 2008 peak, as California has stagnated. Unemployment in Texas is 7%, compared to nearly 11% in California.

Another positive in Texas is that state tax revenues are bursting all records. This year, sales tax revenue will be up 12%, well above the pre-recession peak. And most intriguingly, leaders like Houston mayor Anise Parker are laying the groundwork for pubic-sector pension reform now, such that the Stockton/San Bernardino/Victorville doomsdays don’t come to stalk Lone Star municipalities.

 

[Terrel L. Shields]

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.

I think "new math" made more kids hate math that anything else and they have not been able to not transfer that disgust on their children. As a consequence that generation...now in their 40s for the most part, have children who cannot stand math either.