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Surprise: U.S. Economic Data Have Been the World’s Most Disappointing

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Surprise: U.S. Economic Data Have Been the World’s Most Disappointing

Is this a sign of unanticipated weakness in the economy?

It’s not only the just-released University of Michigan consumer confidence report and February retail sales on Thursday that surprised economists and investors with another dose of underwhelming news. Overall, U.S. economic data have been falling short of prognosticators’ expectations by the most in six years.

The Bloomberg ECO U.S. Surprise Index, which measures whether data beat or miss forecasts, fell to the lowest since 2009, when the nation was in the deepest recession since the Great Depression.

There’s been one notable exception to the gloom, and it’s a big one: payrolls. The economy added 295,000 jobs in February and 1.3 million over four months, a reflection of a healthier labor market in which the unemployment rate has fallen to the lowest in almost seven years.

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Most everything else? Blah.

This month alone, personal income and spending, manufacturing as measured by the Institute for Supply Management, auto sales, factory orders, and retail sales have all come in a bit weak.

Citigroup keeps economic surprise indexes for the world, and its scoreboard shows the U.S. is most disappointing relative to consensus forecasts, with Latin America and Canada next, as of March 12. Emerging markets were supposed to be hurt by falling oil prices but are now delivering positive surprises. U.S. policymakers frequently talk about weakness in Europe and China, though both are exceeding expectations.

And there’s one rub. The surprise shortfall in the U.S. doesn’t necessarily mean the world’s largest economy is in dire straights. It’s just falling short of some perhaps overly elevated expectations.

https://www.bloomberg.com/news/articles/2015-03-13/surprise-u-s-economic-data-most-disappointing-in-the-world

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State Board of Education president speaks to Ridgewood parents, teachers

Mark-Biedron-Co-Founder-of-The-Willow-School

Mark-Biedron-Co-Founder-of-The-Willow-School
State Board of Education president speaks to Ridgewood parents, teachers

March 13, 2015    Last updated: Friday, March 13, 2015, 9:58 AM
By Mark Krulish
Staff Writer |
The Ridgewood News
New Jersey State Board of Education President Mark Biedron appeared at the Ridgewood home of Marlene Burton to engage a group of concerned parents, some of whom are also teachers, in a dialogue about changes made on the educational landscape in recent years.

Over the course of two-and-a-half hours, Biedron and a group of approximately 30 people explored topics ranging from the Partnership for Assessment of Readiness for College and Careers (PARCC) tests, Common Core standards, teacher evaluations, Personally Identifiable Information (PII) and the narrowing of the curriculum.

Reminding those in attendance that his opinions were his own and do not necessarily reflect those of the Department of Education, Biedron spoke candidly about what he believes will help children be successful.

Many decades ago, content was king, Biedron said, as information was much more difficult to find. With all of the information the world has to offer available at the push of the button, he said schools can now additionally focus on other skills and habits that he believes many want their children to have.

“Content alone will not make our children successful,” Biedron said. “What will? Critical thinking skills, problem-solving skills, collaboration skills and communication skills. Are these skills being taught by Common Core and PARCC? That’s a big question. Education is organic, it’s constantly changing.”

https://www.northjersey.com/news/education/state-boe-president-visits-ridgewood-1.1288623

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Concerns Grow About Common Core Standards

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Gregory Dymshits, a full-time research biologist, teaches a genetics lesson at a special school for advanced science and math students. (Photo: Jim Ketsdever/KRT/Newscom)

Concerns Grow About Common Core Standards
Brittany Corona/ March 12, 2015

“If you came to college with only an Algebra II background and you wanted to major in a STEM area, you have a 1/50 chance— a 2 percent chance— of ever obtaining a degree in STEM… This level of preparation is simply insufficient,” said Milgram.

According to Education Week, teachers also are struggling with how to teach to the Common Core math standards.

“Each standard has so many ideas built into it, you really have to sit down and think through all the implications of that,” said math teacher Bobson Wong. “I could easily make each of these courses a two-year course.”

And recently, reports surfaced that the Common Core architects left what some consider holes in the standards.

Richard A. Askey, a professor emeritus at the University of Wisconsin-Madison and former member of the math standards’ feedback group, later noticed an omission of a geometry standard in Common Core. In fact, according to Education Week, Askey said “the process toward the end was so hurried that an entire high school standard was left out of the final draft.”

“There’s no formal mechanism in place for a wholesale review of the common core, but it’s likely that states will—as they always have—review their standards at times and decide whether they need to be altered,” the Education Week article said.

When Common Core was created in 2009 by Achieve Inc., with oversight from the National Governors Association and the Council of Chief State School Officers, its adoption immediately was tied to federal incentives through billions in competitive grants and waivers from provisions in the No Child Left Behind law.

By 2010, 46 states had signed on to the standards and agreed to implement them fully by this school year. Over the last two years, states have begun to realize the costs of quickly signing on to Common Core. By 2015, 15 of the original 46 states that agreed to Common Core have made efforts to withdraw from the standards and aligned tests. Four exited the standards completely—Indiana, Oklahoma, South Carolina and Louisiana.

The haste of Common Core’s adoption is felt across the nation—but the extent is not yet realized. The alignment of college entrance exams, such as the SAT and ACT, and advanced placement courses cause concern over the “voluntary” nature of the standards.

Yet, there is still hope. Many states are putting forth measures to reclaim autonomy over their standards and are beginning to practice competitive federalism, thoughtfully considering their state standards, Common Core and other state standards to make a set of standards and tests that are best for their students’ college or career readiness.

https://dailysignal.com/2015/03/12/concerns-grow-about-common-core-high-school-standards/?source=hafa

 

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NJEA experiences an honest moment, admits not giving a damn about school quality

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NJEA experiences an honest moment, admits not giving a damn about school quality
March 13, 2015
By Matt Rooney | The Save Jersey Blog

You and I know that the New Jersey Education Association (NJEA) cares about two things, Save Jerseyans: preservation of their power, wielded through the accrual of money and politics.

Kids, parents and yes, teachers, be damned. But they don’t always come right out and say it.

Sometimes they do. Who can forget how back in 2012 then-NJEA Executive Director Vincent Giordano went on TV and told New Jersey’s poor families stuck in crappy public school districts sorry, “life’s not always fair.”

Next up: at the 2015 NJSCERA Conference on Virtual & Blended Learning held on Wednesday, the NJEA’s Marguerite Schroder (note: their website says she’s a “student organizer” but, no offense, she looks a little long-in-the-tooth to be a student so I’m not exactly sure what her duties include… maybe it’s like community organizing?) admitted to Bob Bowdon of the pro-school organization Choice Media that NO, her organization wouldn’t support a non-unionized school even if it was high quality:

https://savejersey.com/2015/03/njea-union-school-new-jersey/

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Mark Cuban: Forgiving student loans is ‘bailout’ for universities

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Mark Cuban: Forgiving student loans is ‘bailout’ for universities
March 13, 2015
Victor Skinner

DALLAS – Dallas Mavericks owner and billionaire investor Mark Cuban is waving red flags at higher education, and he’s arguing against the idea to forgive student debt amid the current “student-loan bubble.”

“Forgiving the debt is the worst thing you can do, because all it does is bail out the universities,” Cuban recently told Business Insider.

Cuban’s comments come a week after Sweet Briar College announced it will close following the spring 2015 semester “as a result of insurmountable financial challenges,” according to the news site.

The closure is the latest in what Cuban calls a “student loan bubble” brought on by a cycle of ever-increasing tuition and student loans. Cuban, who bought collegedebt.com to keep tabs on student loan debt, believes it’s simply a matter of time before the benefits of higher education are outweighed by the costs.

“What you thought you were going to get in quality of life by going to that college,” he told Business Insider, “you’ve just undermined with the amount of debt you’re taking on.”

Collegedebt.com shows student loan debt in the United States currently totals about $1.3 trillion.

Cuban told Business Insider that an initiative laid out by President Obama this week to help students with federal student loans may have some merit, but cautioned against a college debt bailout.

“Anything that causes lenders and service companies to act fairly is a good thing,” he said. “The challenge is that you can’t subsidize or forgive existing debt without very strict rules. Otherwise it allows schools to tell future students not to worry. They too will get some portion forgiven. Which in turn gives the school more leeway to raise tuition.”

Cuban said he thinks a bailout would only exasperate the current situation.

After news of the Sweet Briar College closure last week, Cuban tweeted “this is just the beginning of the college implosion.”

“At some point,” he said, the student loan bubble is “going to pop.”

Cuban told Inc.’s GrowCo conference last year that if he was “running the economy, I’d go and say, ‘Sallie Mae, the maximum amount that you’re allowed to guarantee for any student in a year is $10,000, period, end of story,’” according to Business Insider.

“There’s all kinds of things that have been proposed to reduce existing student debt,” he said. “At some point, there’s got to be legislation where we put a limit on how much you can take out on a loan.”

https://eagnews.org/mark-cuban-forgiving-student-loans-is-bailout-for-universities/

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NJEA rep slams Hespe testimony on PARCC exams, calls it ‘frustrating’

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NJEA rep slams Hespe testimony on PARCC exams, calls it ‘frustrating’

TRENTON — Leaders of New Jersey’s largest teachers union weren’t convinced by Department of Education Commissioner David Hespe’s testimony on PARCC exams in front of the Senate Education Committee this morning.

In fact, they’ve still got “real concerns” about the test’s roll out. (Brush/PolitickerNJ)

NJEA rep slams Hespe testimony on PARCC exams, calls it ‘frustrating’ | New Jersey News, Politics, Opinion, and Analysis

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Commissioner Hespe Talks PARCC Testing to Senate Education Committee

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Commissioner Hespe Talks PARCC Testing to Senate Education Committee

Given the debate swirling around the new PARCC assessments — not to mention the muted roar over the testing itself — state Education Commissioner David Hespe should have plenty to say when he goes before the State Senate education committee this morning to answer questions from legislators.

The discussion is sure to get another jolt from the two pending bills that could significantly affect the testing going forward: one to put a moratorium on using the new tests for evaluating students, teachers, and schools and another setting a statewide policy for families who want their kids to sit out the tests. (Mooney/NJSpotlight)

https://www.njspotlight.com/stories/15/03/11/commissioner-hespe-talks-parcc-testing-to-senate-education-panel/

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Fake IRS Agents Target More than 360,000, Make Off With $15.5M in Scam

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Fake IRS Agents Target More than 360,000, Make Off With $15.5M in Scam

Thursday, 12 Mar 2015 10:33 AM

A federal investigator says fake IRS agents have targeted more than 366,000 people with harassing phone calls demanding payments and threatening jail time as part of a huge nationwide scam.

A deputy inspector general for the agency says more than 3,000 people have fallen for the ruse since October 2013. He says they have been duped out of a total of $15.5 million.

Read Latest Breaking News from Newsmax.com https://www.newsmax.com/Newsfront/irs-tax-scam/2015/03/12/id/629732/#ixzz3UCzqT48h

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Reader says legally-imposed hiring preference for qualified local residents was NEVER ON THE AGENDA.

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Reader says legally-imposed hiring preference for qualified local residents was NEVER ON THE AGENDA.

Unfortunately for you, you’ve just highlighted perhaps the best reason why Councilwoman Knudsen need never have concerned herself with any potential conflict-of-interest: Potentially eliminating the RPD’s and the RFD’s legally-imposed hiring preference for qualified local residents was NEVER ON THE AGENDA.

Other items relating to village hiring practices for other municipal jobs may have been up for discussion, but never the local hiring practices relating to police or firemen. (And certainly nothing on the agenda necessitated closing the session.)

This is also why it is so clearly a red herring for anyone to bring up her relationship to the test-takers. They are not even candidates for any of the positions or categories of positions being looked at by the VC for potential changes in the law relating to hiring practices!

What do we care about what relationship the test-takers have or don’t have with Councilwoman Knudsen? What’s the relevance?

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Reader says Nobody cares whether RPD or RFD test-takers have any relationship with a current member of the Village Council or not.

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Reader says Nobody cares whether RPD or RFD test-takers have any relationship with a current member of the Village Council or not.

Nobody cares whether RPD or RFD test-takers have any relationship with a current member of the Village Council or not. Yet you won’t stop talking about it. It has no relevance to the topic at hand. Your continued harping on it seems to show that you are trying to sow general confusion or to deflect attention from the topic immediately at hand (namely: non-police and non-firefighter municipal hiring practices in Ridgewood). Is this not the textbook definition of a red herring? If so, can we please be forgiven for ignoring it?

A municipality that flouts or ignores the law in question for 25 years MUST BE consistently failing deliberately to give priority to qualified candidates who actually live within its borders. Thus, its hiring practices are literally out of control and must be amended immediately.

Most qualified potential candidates who are also local residents are likely to be unaware of the law operating in their favor because the management of the municipality has itself forgotten about its requirements. That’s a heck of a lot of ignorance, institutional and otherwise. The likelihood of such collective ignorance and lack of management control producing many, many violations of the law in question over a twenty-five year period is objectively high.

More particularly, the municipality in question will be extremely lucky if one or more such violations did not occur within the one, two, three, six-year period (whatever it happens to be) specified by the statute of limitations (i.e., the recent past) such that the hiring decision(s) is either currently subject to being ‘undone’ as a result of a well-pled lawsuit, or will be held to have triggered liability for money damages awardable to the plaintiff behind the suit.

You are asking someone to simply name for you any and all Ridgewood residents in the past twenty-five years who were qualified and applied for a position with the village and were improperly turned down in favor of respective out-of-town applicants.

With all due respect, and at least in this forum, this is a preposterous demand. If you are curious about the potential scope of the village’s liability for current and past violations of the hiring practices law in question, you should conduct your own investigation. Pounding your fists at the insufficiency of a collection of comments on a local blog accomplishes nothing and, frankly, makes you look like a fish out of water (or worse).

OTOH, Nobody here ultimately wishes anyone ill. The issues and good governance are what count, and your time was not wasted if you would just try to broaden your perspective to include more than just the political, or the tactical.

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Deputy Mayor Albert Pucciarelli will lead a CBD Panel Discussion on Parking on March 18th

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file photo by Boyd Loving

Deputy Mayor Albert Pucciarelli will lead a CBD Panel Discussion on Parking  on March 18th

Forum No. 5 – CBD Panel Discussions – March 18, 2015 at 7:30PM

Deputy Mayor Albert Pucciarelli has scheduled a CBD Panel Discussion for March 18, 2015 from 7:30PM to 9:00PM; with an “open mike” from 7:30 to 8:00PM. It will be held at Christ Episcopal Church located at the corner of Franklin venue and Cottage Place. The discussion will focus on Parking with a panel comprised of Paul Vagianos, Charles Demarco, Janet Fricke and Paul Aronsohn.

Village Council and Village Board Meetings 

03/17/157:30PMPlanning Board Public Meeting
03/24/157:30PMBoard of Adjustment Work Session
03/25/157:30PMVillage Council Public Work Session
03/31/157:30PMBoard of Adjustment Public Meeting

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Village Council formally approved the use of Smartphones as a means of paying for parking

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PayByPhone_Meter

Village Council formally approved the use of Smartphones as a means of paying for parking 

Ridgewood allows use of phones to pay for parking

MARCH 13, 2015    LAST UPDATED: FRIDAY, MARCH 13, 2015, 1:21 AM
BY CHRIS HARRIS
STAFF WRITER |
THE RECORD

RIDGEWOOD — Depending on your technological prowess, paying for parking in the village is about to get either a whole lot easier or much more complicated.

The council formally approved this week an amendment to Ridgewood’s code to include smartphones as a means for paying for time at parking meters downtown.

Ridgewood officials have been mulling a possible contract with Atlanta’s Parkmobile for weeks. Users of the company’s app can pay for spaces with their phones.

Village officials are still in negotiations with Parkmobile, but say that if all goes well, the system could be in place by May.

Officials said stickers with Parkmobile’s information would be affixed to each meter. They will still accept quarters.

The app is already in use in Glen Rock, Fair Lawn and Newark, and links directly to a credit card, debit card or PayPal account.

https://www.northjersey.com/news/counciloks-use-of-phones-at-meters-1.1288381

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Major survey finds record low confidence in government

Faith in Government

Faith in Government

Major survey finds record low confidence in government

By EMILY SWANSON
Associated Press

WASHINGTON (AP) — Americans’ confidence in all three branches of government is at or near record lows, according to a major survey that has measured attitudes on the subject for 40 years.

The 2014 General Social Survey finds only 23 percent of Americans have a great deal of confidence in the Supreme Court, 11 percent in the executive branch and 5 percent in Congress. By contrast, half have a great deal of confidence in the military.

The survey is conducted by the independent research organization NORC at the University of Chicago. Because of its long-running and comprehensive set of questions about the public, it is a highly regarded source of data about social trends. Data from the 2014 survey was released last week, and an analysis of its findings on confidence in institutions was conducted by The Associated Press-NORC Center for Public Affairs Research and the General Social Survey.

https://hosted.ap.org/dynamic/stories/U/US_POLL_FAITH_IN_GOVERNMENT?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2015-03-11-15-47-05

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Federal workers more financially secure than the taxpayers who pay them

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Federal workers more financially secure than the taxpayers who pay them
By Karen Beseth  /   March 9, 2015

A new study by Gallup reports that federal workers are much more likely to say that they are thriving financially than the rest of us.

The findings are based on more than 80,000 interviews from February 2014 to February 2015, and Gallup concluded that “US federal workers have [an] edge in financial well-being over other workers.”

Only 34 percent of workers outside of the federal government say they are thriving financially, while 44 percent of federal workers report a strong sense of financial well–being, a full ten point difference. On the flip side, non-federal workers are much more likely to say they are struggling (42 percent) or suffering (24 percent) than federal workers, while only 17 percent of federal workers say they are suffering.

The findings cut across all income and education levels, and according to Gallup “for those who experience higher levels of financial well-being, they feel as if they can spend time and energy addressing other facets of well-being in their day-to-day lives, including their purpose, social, community and physical well-being.” In other words, working for the federal government brings benefits that extend beyond the financial realm and improve all aspects of life.

While most Americans want to see all of their fellow citizens thriving and doing well, to some it does seem unfair that the people paying the federal workers are worse off financially than their public servants. Investor’s Business Daily compares the situation to The Hunger Games, a popular book and movie series in which the people in the “Districts” struggle while residents of the “Capital” live the good life.

“Gallup says this “could mean good news.” Well, for federal workers it sure is. But it’s hardly good news for the rest of the country. What the survey shows is how our massive federal government has increasingly become a wealth transfer machine that takes money from working families and gives it to elites in and around Washington….

The U.S. is, in short, becoming a real-world version of the Hunger Games, where people living in far-flung impoverished districts toil for the benefit of an increasingly rich, corrupt and indifferent capital city.”

That hardly sounds like the vision our Founding Fathers had when they created the federal government.

This article was written by a contributor of Watchdog Arena, Franklin Center’s network of writers, bloggers, and citizen journalists.

https://watchdog.org/204664/federal-workers-taxpayers/

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FEMA agrees to reopen all Superstorm Sandy homeowner claims

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FEMA agrees to reopen all Superstorm Sandy homeowner claims

MARCH 11, 2015, 9:21 PM    LAST UPDATED: WEDNESDAY, MARCH 11, 2015, 9:34 PM
BY ABBOTT KOLOFF
STAFF WRITER |
THE RECORD

In the face of allegations of fraudulent practices by some private insurance companies, the Federal Emergency Management Agency will reopen every claim made by homeowners who suffered damage during Superstorm Sandy and has let go one of its top administrators, New Jersey’s U.S. senators announced Wednesday.

Senators Robert Menendez and Cory Booker said during a press conference in Washington that FEMA has agreed to review all 144,000 claims filed by Sandy victims, and not just the 2,200 claimants currently involved in a lawsuit over allegations that some claims were denied because of fraudulent engineering reports made by insurance subcontractors.

All Sandy victims across the region who believe that they didn’t receive enough insurance money for flood damages are eligible to resubmit their claims, including those who live in North Jersey’s hardest hit areas in Little Ferry and Moonachie. The mayors of those municipalities did not immediately respond to messages seeking a response to the announcement.

Menendez and Booker also said that the FEMA executive who has been overseeing the National Flood Insurance Program, David Miller, has tendered his resignation. The agency’s top administrator, Craig Fugate, plans to have a process in place within “several weeks” for Sandy victims to seek a review of their claims, they said.

https://www.northjersey.com/news/fema-agrees-to-reopen-all-superstorm-sandy-homeowner-claims-1.1286792