327.5 SWEDEN +30.11.10 02/23/12/17/6M
UP 00:30 PST - FEB. 6, 2018 WAG35Wi
RAINTREE TY TEAM
RAINTREE NL TEAM
|Vista 1628 DVi Inc. Ltd. CAN - EU - USA
ATSC 3.1 (XT)
MARVIN ROBINSON WAGENBERG FOUNDATION BEN - CAN - FRA - DEU - EU - UK - USA - PRT
ENTIRE TRAILS VIRTUAL MAPS in REALTIME on VIDEO in FIRST PERSON PERSPECTIVE by Hikealong Video Production
|VIRTUAL HIKING & RUNNING. VIDEO TRAVELING: EXPLORING & SIGHTSEEING AT HOME. NATURE'S TREADMILL FITNESS & HEALTH
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|EUROPE AMERICAS AFRICA ASIA
GeoChip Vista 1628 TEAM
La Madre Knights Team
GeoChip Vista 1628 TEAM
ASIA T I S H
AMERICAS B To D N S&P
|-- dictum meum pactum -- Peter Johann Wagen(leithner) (Zeitlinger) IP, AustroCanadian, European, Roman Catholic, 48L Video Mountaineer, GeoMEDIA(tor) AT
GeoChip Vista 1628 Inc. Ltd.
HikeAlong Video Production
Spring Valley P.O. Box 81702
Las Vegas, NV 89180 USA
Final 6 minutes at the Summit of Mittagskogel
EUROPE AMERICAS AFRICA ASIA
EUROPE V M P L F Ma
Makes & Keeps Friends
Very Hard Work
Luxury & Goodies,
Sexy & Loyal Partners.
EURO 1,2422 February 5, 2018 13:57 ESTime *13:42 ESTime
La Madre Knights Team
La Madre Knights Team
DATA Video Surveying
|Step-by-Step, Entire Trails in RealTime
2,55% 1,06% 0,73% 1,09% T I S H
0,88% 1,64% 1,48% 1,46% 0,76% 1,44% V M P L F Ma
0,78% *0,89% 1,37% 0,68% 1,20% B To D N S&P
2014 - JAN. 31, 2018 Peter J. Wagenleithner
EURO 1,2410 February 5, 2018 11:16 ESTime *11:04 ESTime
Feb. 5, 2018 17:16 CETime
2,55% 1,06% 0,73% 1,09% T I S H
1,00% 1,50% 1,30% 1,22% 0,53% 1,22% V M P L F Ma
0,17% *0,19% 0,18% 0,10% 0,17% B To D N S&P
Red "China Syndrome" (again)??
*SOME DATA MAY BE DELAYED UP TO 15 MINUTES*
Feb. 5, 2018 19:57 CETime
WAG 35 Wi Wealth 2018
|8.8 Mile SOUTH LOOP
Up Mt. Charleston Real Time
Videos from Nov. 2011
|7.2 Mile RAIN TREE
Up/Down (Mt. Charleston)
|A specially equipped "firefighter drone chopper", similar to a MQ-8C Fire Scout (or their likes), could have stopped the fire in the first few hours after the thunderstorm had passed.
|Also, a Howard Hughes would have a 100 of those stationed in every western state, taking off as soon as a thunderstorm had passed to attack the fires - and not wait until it gets out of control!"
|My suggestion below dates from July 2013, at the height of the fire!
|(Excerpts from my July/Aug. 2013 web page)
|Mt. Charleston South Loop Trail
(now damaged by wildfire)
Click for video
NOTE: Some videos may have been removed by now!
|Mt. Charleston Mummy Mountain
& Raintree (Saved!)
Jeune, ambitieux et europhile: qui est Sebastian Kurz, le nouveau chancelier autrichien?
Par Sabine Syfuss-Arnaud le 19.01.2018 à 17h06
EXCLUSIF. Chancelier d’Autriche depuis le 18 décembre, Sebastian Kurz suscite curiosité et inquiétude en Europe . Curiosité parce qu'il est le plus jeune
dirigeant du monde. Inquiétude, parce ce conservateur vient de former un gouvernement avec la droite dure. Challenges a rencontré à Vienne celui qui
se dit europhile, ambitieux, travailleur et soucieux des détails.
D'une politesse exquise, il présente ses excuses pour les cinq minutes de retard. Il a les joues poupines, un sourire enjôleur, les yeux d'un bleu soutenu,
mais le regard vif et scrutateur de quelqu'un qui ne s'en laisse pas conter. Comme souvent, il ne porte pas de cravate.
Hauteur de plafond vertigineuse, boiseries au mur, miroirs et dorures années 1930, son bureau, chargé d'histoire, en impose. Mais, de lui, peu de traces.
Tout est net, impeccable, rangé. Seule touche personnelle : une œuvre d'art, la carte d'Europe la tête en bas, avec en surimpression un plan du quartier
des musées à Vienne. L'Europe à l'envers, pourquoi donc ? Il commente simplement: " Ce tableau, je l'ai dans mon bureau depuis que je suis ministre des
affaires étrangères. Je l'aime beaucoup. Il est l'œuvre d'un jeune artiste contemporain allemand."
Il a du charme et il le sait
L'Europe c'est son dada, l'ADN de sa politique. Il le clame, à chaque fois qu'il en a l'occasion. D'ailleurs si les affaires étrangères sont tombées dans le
giron d'une ministre proche du FPÖ, lui a gardé la haute main sur les affaires européennes. Son premier déplacement à l'étranger, il l'a effectué à
Bruxelles et sa première rencontre bilatérale de chancelier, il l'a eu à Paris, avec Emmanuel Macron, quatre jours auparavant, le 12 janvier. Au-delà des
déclarations de bonnes intentions, on lui repose la question du risque d'un possible rapprochement avec le bloc des régimes autoritaires en Europe de
l'Est. Il rétorque vivement: "on m'a souvent posé la question. Les commentateurs ont souvent donné la réponse à ma place. Je le dis très clairement:
l'Autriche ne rejoindra pas le groupe de Visegrad." Et d'ajouter avec des accents de sincérité : "Mon gouvernement est pro-européen et je suis
viscéralement pro-européen. Je veux contribuer à bâtir des passerelles en Europe." Interrogé sur une dimension plus sensible de cette Europe dont il se
réclame, il avance: " pour moi, c'est aussi un art de vivre ensemble, d'être bien ensemble, de partager une histoire et des valeurs communes." Il
revendique des goûts éclectiques, affirme aimer les groupes de rock Muse et U2, comme le Faust de Goethe.
Sebastian Kurz a du charme. Il le sait. Il en joue, se montre disponible, écoute avec attention, répond précisément, ne montre aucune impatience, alors
que son emploi du temps est serré. Le matin, il a eu un conseil des ministres, depuis il enchaîne les rendez-vous. Le lendemain, il s'envole pour deux jours
à Berlin, où il doit être reçu par tout le gratin de la politique, Angela Merkel en tête, des médias et de la télévision. Il a même un dîner prévu avec des
célébrités des bords de la Spree.
On lui demande comment il imaginait-il son avenir quand il avait quinze ans ? Il s’offre une coquetterie : « Je pensais que je ferais un vrai métier et que je
m'engagerai en politique comme bénévole. Et puis, la politique m'a pris de plus en plus de temps..." Très vite, en effet, il a pris la tête des jeunes de son
parti, a décroché des mandats locaux, avant d’être appelé à de plus hautes fonctions. Il se souvient : "quand on m'a proposé d'être secrétaire d'Etat,
j'avais 24 ans. J'ai pris le temps de réfléchir et j'ai accepté".
Aujourd’hui il dirige son pays. Et conduit une équipe de ministres dont aucun ne vient de la politique. Tout juste trentenaire, il est le seul à avoir une
expérience gouvernementale ! Il explique : "J'avais annoncé pendant la campagne que mon gouvernement serait issu de la société civile, qu'il serait
composé d'experts. Certains ne m'ont pas cru. Mais, je tiens toujours les promesses que je fais". A l’économie, il a installé une femme, c’est une première
à ce poste, et une personne issue du monde de l’entreprise, autre première. Margarete Schramböck vient du monde des télécommunications. Car s’il a de
grandes ambitions pour l’Europe, le chancelier en a aussi pour son pays. "Mon objectif est de rendre l’Autriche plus attractive. Et notre programme
gouvernemental propose de nombreuses mesures qui vont clairement dans ce sens." Le texte fait 120 pages au contenu très détaillé
L’heure tourne. On manque de temps pour revenir sur cette alliance avec le FPÖ qui suscite tant d’interrogations. Au cours des quatre dernières
semaines, le chancelier s’est beaucoup justifié. Le contrat de coalition établit un cadre très strict aux décisions qui seront prises et mises en œuvre par le
gouvernement. La droite populiste a mis de l’eau dans son vin par rapport aux années Haider. Le gouvernement ne fera rien qui soit en contradictions
avec l’ancrage européen traditionnel de l’Autriche. Ses proches glissent aussi mezza voce que « Basti », comme ils l’appellent, est rusé : il a placé le FPÖ
au gouvernement pour mieux le circonvenir. Que dans l’opposition, il serait plus dangereux qu’aux responsabilités…
Le 12 janvier à Paris, il a demandé qu’on lui « laisse une chance » et qu’on le juge sur ses actes. Il n’a, en tout cas, pas essuyé les mêmes réactions
violentes qu’en l’an 2000, quand la droite populiste était arrivée pour la première fois au pouvoir. Alors que Bruxelles avait alors décrété un boycott
diplomatique de Vienne, Sebastian Kurz, lui, a été reçu le 19 décembre par un Jean-Claude Juncker hilare, généreux en accolades, qui a décrété que le
programme gouvernemental de l’Autriche lui convient à « presque 100% ». Mi-janvier, une manifestation à Vienne a rassemblé 20 000 opposants, dix fois
moins qu’il y a dix-sept ans.
On termine par une question brève. Que lui inspirent les adjectifs suivants que la presse autrichienne utilise souvent pour parler de lui. Pour « ambitieux »
et « travailleur », il acquiesce. Pour « control freak », il hésite, sourit légèrement et lâche : "disons que j'ai le souci du détail". Non sans humour, il emploie l’
expression allemande de « Detailverliebt » (amoureux du détail). L’entretien s’achève.
envoyée spéciale à Vienne
Young, ambitious and Europhile: Who is Sebastian Kurz, the new Austrian Chancellor?
by Sabine Syfuss-Arnaud
19.01.2018 in 5:06
Exclusive. Chancellor of Austria since 18 December, Sebastian Kurz has aroused curiosity and concern in Europe. Curiosity because he is the youngest
ruler in the world. Concern, because this conservative just formed a government with the hard right. Challenges met in Vienna the one who says Europhile,
ambitious, hardworking and concerned about the details.
Exquisitely polite, he apologized for the five minutes late. He has baby cheeks, a cajoling smile, the eyes of a deep blue, but the keen and scrutinizing look
of someone who does not let it be said. As often, he does not wear a tie.
Height ceiling vertiginous, wood paneling on the wall, mirrors and gilding 1930, his office, steeped in history, imposes. But from him, few traces. Everything
is clean, impeccable, tidy. Only personal touch: a work of art, the map of Europe upside down, superimposed a map of the museum district in Vienna.
Europe in reverse, why? He simply comments: & quot; This table, I have it in my office since I was Minister of Foreign Affairs. I love her so much. It is the
work of a young contemporary German artist. "He has charm and he knows it.
Europe is his hobby, the DNA of his politics. He proclaims it whenever he has the opportunity. Moreover, if foreign affairs fell into the hands of a minister
close to the FPÖ, he kept the upper hand on European affairs. His first trip abroad, he made it in Brussels and his first bilateral meeting of Chancellor, he
had it in Paris, with Emmanuel Macron, four days earlier, on January 12th. Beyond the statements of good intentions, it is based on the question of the risk
of a possible rapprochement with the bloc of authoritarian regimes in Eastern Europe. He retorts sharply: "I was often asked the question. Commentators
have often given the answer for me. I say it very clearly: Austria will not join the Visegrad group.
And to add with accents of sincerity: "My government is pro-European and I am viscerally pro-European. I want to help build bridges in Europe. & Quot;
Asked about a more sensitive dimension of this Europe of which he claims to be, he advances: & quot; for me, it's also a way of living together, to be
together, to share a common story and values. & quot; He claims eclectic tastes, says he likes rock bands Muse and U2, like Goethe's Faust.Sebastian
Kurz has charm. He knows it. He plays it, is available, listens carefully, responds precisely, shows no impatience, while his schedule is tight. In the morning,
he had a council of ministers, since he chained appointments. The next day, he flies away for two days.
He asked him how he imagined his future when he was fifteen? He offers himself a coquetry: "I thought that I would do a real job and that I would engage in
politics as a volunteer. And then, politics took me more and more time ... Very quickly, in fact, he took the lead of the youth of his party, won local
mandates, before being called to higher positions. He recalls: "When I was offered to be Secretary of State, I was 24 years old. I took the time to think and I
accepted. "Today he runs his country. And leads a team of ministers none of whom comes from politics. Just thirty, he is the only one to have a
government experience! He explains: "I announced during the campaign that my government would be from civil society, that it would be composed of
experts. Some did not believe me. But, I still keep the promises I make ".
In the economy, he has installed a woman, it is a first in this position, and a person from the world of business, another first. Margarete Schramböck comes
from the world of telecommunications. Because if he has great ambitions for Europe, the Chancellor also has for his country. "My goal is to make Austria
more attractive. And our government program proposes many measures that are clearly in this direction. The text is 120 pages in very detailed content.
The time is running. There is no time to go back on this alliance with the FPÖ which raises so many questions. During the past four weeks, the Chancellor
has been very justified. The coalition contract sets a very strict framework for the decisions that will be made and implemented by the government. The
populist right put water in their wine compared to the Haider years. The government will not do anything that contradicts Austria's traditional European
roots. His relatives also slip mezza voce that "Basti", as they call it, is cunning: he placed the FPÖ in the government to better circumvent it. That in the
opposition, it would be more dangerous than responsibilities ...
On January 12 in Paris, he asked that he be "given a chance" and that he be judged by his actions. In any case, it did not suffer the same violent reactions
as in the year 2000, when the populist right arrived for the first time in power. While Brussels then decreed a diplomatic boycott of Vienna, Sebastian Kurz,
he was received December 19 by a hilarious, generous in accolades Jean-Claude Juncker, who decreed that the government program of Austria suits him
to " almost 100%. In mid-January, a demonstration in Vienna gathered 20,000 opponents, ten times less than seventeen years ago. It ends with a brief
What are the following adjectives that the Austrian press often uses to talk about him? For "ambitious" and "hardworking", he agrees. For "control freak",
he hesitates, smiles lightly and cowardly: "let's say that I care about the detail". Not without humor, he uses the German expression of "Detailverliebt" (lover
of detail). The interview ends.
Special Correspondent in Vienna
With so much to follow in Washington right now – and so much happening all across the country – I want to make sure the investigations into Russian
interference in the 2016 election don’t get lost in the shuffle. Special counsel Robert Mueller has impaneled a grand jury, signaling that the investigations
are reaching a critical moment, and new information continues to surface.
We’ve seen findings that Russians purchased political ads on Facebook, Google and other online platforms to spread disinformation and stoke fear. And
internal reviews of that spending indicate the Russians used sophisticated targeting to sow discord. In addition to the propaganda, we also know of at
least 21 states where Russians tried to hack into election systems, a story which hasn’t gotten the thorough attention it deserves.
I’ve talked about the Russia investigations with folks in Maine and all across the country – including some who wonder what the point of all this is. People
understandably want to put the 2016 elections behind them and leave this in the past – but, unfortunately, Russian meddling isn’t a thing of the past. It’s a
real concern for the future of our electoral system. As former FBI Director James Comey said during his testimony in front of the Senate Intelligence
Committee: “They’ll be back.” Putin doesn’t “side” with anyone but himself – he’s not a Republican or a Democrat, and this was not a one-off. Russia has
tried to undermine democratic regimes in France, the Netherlands and Germany with its disinformation campaigns, and it’ll be back to attempt to
undermine ours in 2018 and 2020. I don’t have any doubt about that.
Our country’s voters have critical decisions to make in the months and years ahead, and we need to make sure all Americans get the chance to make
their own choices free of foreign interference. I consider this some of the most important work of my career. As a member of the Senate Intelligence
Committee, I’m focused on learning exactly what the Russians did and how they did it. We must uncover the facts, hold people accountable and prevent
this from happening again.
I appreciate you taking the time to read my thoughts, and I’ll keep you in the loop as this continues to develop.
Thank you for your support.
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Trumpiversary: Here Are the Winners & Losers
9:33 am ET November 9, 2017 (Zacks) Print
Before President Trump’s election, many pundits found it difficult to assess the outcome of his victory as his proposals seemed contradictory or lacked
details. On the contrary, such pro-economic policies helped technology and financial stocks rise sharply, helping Wall Street’s major equity indicators
showing the best rally in the past 81 years.
Defense stocks have, in fact, left the rest in the dust. The sector gained the most following tensions between Trump and North Korea. Trump’s
Afghanistan strategy has also lent such stocks a fillip. However, not everyone has partaken in this year-long rally. Let us thus take a look at the potential
gainers and losers of the ‘Trump trade’.
Trump Rally Fed Off Wall Street Anxiety
It’s been a year since Trump’s stunning performance on election night that had rattled the global equity market. The Dow futures tumbled nearly 900
points as investors remained concerned about Trump’s questionable campaign promises on trade and immigration.
But, investors’ apprehensions ebbed by morning and U.S. stocks started moving north. In fact, the Dow’s 1-year gain since Trump’s win turned out to be
the highest post-Election Day rise since 1945. The blue-chip gauge surged 28.5% since Nov 8, 2016.
The S&P 500 also rallied 21% since the close of trading on Election Day 2016. This is the benchmark index’s third best performance during a President’s
first election since World War II, lagging that of Presidents John F Kennedy (1960, 29%) and George H. W. Bush (1988, 23%), as per Sam Stovall of
Though Trump had taken over a progressing economy with the stock market near an all-time high, his pro-growth and business-friendly policies as well as
bets on deregulation gave investors ample scope.
Technology and Financials Benefit From Trump Policy
Promises of pro-business legislation by Trump have primarily supported the gains for the software industry and the manufacturers of the internal
technologies — the semiconductor makers. The House’s latest corporate tax plan will lower taxes from 35% to 20%. As a result, tech companies’ after-tax
earnings will improve and lead to repatriation of trillions of dollars held abroad by such companies. Tech companies can use this extra cash for research
and developments, and mergers and acquisitions.
If the bill turns into a law, tech bigwigs including Apple Inc. AAPL and Microsoft Corporation MSFT as well as semiconductor giant NVIDIA Corporation
NVDA will largely benefit as they have billions of dollars stashed outside the United States. In fact, NVIDIA – Zacks Rank #2 (Buy) stock – became the
biggest gainer since the election, up a staggering 209%. Looking at the big picture, the technology sector is up around 39%.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Financials, in the meantime, has benefitted from the possibility of deregulating the sector. At the same time, Trump appointed Jerome Powell as the next
Federal Reserve chairman, someone who favors his regulatory changes.
Trump views the Dodd-Frank regulatory overhaul as a harsh measure, especially, on smaller banks. Trump has called for repealing parts of the Dodd-
Frank Act, which has for a considerable period of time limited operational flexibility. Trump’s administration also aims at increasing the minimum asset
threshold for banking behemoths, which will lend more flexibility, boost valuations, strengthen consolidation and increase lending. The value of stock and
options held by Jamie Dimon, the CEO of JPMorgan Chase & Co., turned out to be the highest since Trump’s win, while the broader financial sector
soared almost 35% in the said period.
Defense Stocks – By Far the Best Trade
Aerospace and the defense sector has been the best trade since Trump’s election. While deal making activity boosted the sector, Trump’s unrelenting
war of words against Pyongyang provided enough impetus to the sector to climb further north.
Let us also not forget that Trump revealed a reversal of strategy in Afghanistan, promising to “fight to win” instead of withdrawing entirely. He vowed to
ramp up U.S. engagement in Afghanistan, the country’s longest war to date. He added that moving troops away from Afghanistan would create a
“vacuum,” which terrorists would “instantly fill.”
Kratos Defense & Security Solutions, Inc. KTOS, AeroVironment, Inc. AVAV and Aerojet Rocketdyne Holdings, Inc. AJRD have been the best-performing
components in the defense sector, with their stock value doubling since Trump’s victory.
Aerospace company Boeing Co gained the maximum at 87% since the election. Trump’s pledge to significantly increase federal spending related to
national security was cheered by Republicans and helped defense and aerospace stocks scale higher. He had promised to seek a $54-billion hike in
spending on tanks, ships and weapon systems. The defense budget will climb 10%, according to the White House, while Trump recommended $30 billion
in supplementary military spending for this year.
Which Sectors Are Not So Lucky?
Not everyone, though, has participated in the year-long rally. The three worst performing sectors since Trump’s election have been consumer staples,
energy and telecommunication services. While staples and energy managed to eke out marginal gains, telecommunications tanked nearly 10%.
While volatility in oil prices during Trump’s regime made investors cautious from investing in the energy sector, staples and telecommunications were
affected due to higher interest rates. The Federal Reserve has lifted rates twice this year and is expected to raise it again next month.
Retailers too have been affected during Trump’s regime, as they continue to adapt to changing consumer tastes and preferences as well as evolving
shopping methods. Notably, Macy's Inc M was among the biggest losers since the election, down 52.3%. Currently, the omnichannel retail company has a
Zacks Rank #4 (Sell).
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En 2018, l'Inde sera la cinquième puissance mondiale
Forte d’une croissance soutenue depuis plusieurs années, l’économie indienne va passer devant les économies française et britannique en 2018.
La puissance économique de l’Inde est incontestable. En 2018, le pays va même devenir la cinquième puissance mondiale, selon une étude du Centre
for Economics and Business Research. L’Inde va ainsi passer devant la France et le Royaume-Uni.
“Malgré quelques revers passagers, l’économie indienne est en mesure de rattraper celle de la France et celle du Royaume-Uni en 2018. Elle les
dépassera toutes les deux pour devenir la cinquième puissance économique en dollars”, détaille l’étude, publiée le 26 décembre.
L’Inde, leader à la fin du siècle
Derrière cette bonne santé économique, il y a notamment les réformes récentes menées par le Premier ministre Narendra Modi. Dans un rapport, l’OCDE
soulignait que l’Inde, sur la “période 2014-2016, avait enregistré, grâce aux réformes conduites par le Premier ministre Narendra Modi, la plus forte
croissance des pays du G20 avec une moyenne annuelle de 7,5 %”.
Au-delà de l’Inde, c’est toute la région qui fait rayonner sa puissance économique dans le monde entier. Et ça ne devrait pas s’arrêter là, selon l’étude du
Centre for Economics and Business Research. Selon eux, en 2032, trois des quatre plus grandes économies de la planète seront asiatiques : la Chine, l’
Inde et le Japon. L’Inde prendra le leadership mondial durant la deuxième moitié du siècle.
Les États-Unis perdront, selon le CEBR, leur première place en 2032, aux dépends de la Chine. Quant à la France, elle sera doublée par les
Britanniques en 2020.
TRANSLATED BY MICROSOFT:
In 2018, India will be the fifth world power
With sustained growth for several years, the Indian economy will pass the French and British economies in 2018.
The economic power of India is undeniable. In 2018, the country will even become the fifth world power, according to a study by the Centre for Economics
and Business Research. India will pass by France and the United Kingdom.
"Despite some passenger setbacks, the Indian economy is able to catch up with France and the United Kingdom in 2018. It will both surpass them to
become the fifth economic power in dollars ", details the study, published on December 26.
India, leader at the end of the century
Behind this good economic health there are in particular the recent reforms led by Prime Minister Narendra Modi. In a report, the OECD pointed out that
India, on the "period 2014-2016, had registered, thanks to reforms led by Prime Minister Narendra Modi, the fastest growing G20 countries with an annual
average of 7.5%".
Beyond India, it is the whole region that makes its economic power radiate worldwide. And that should not stop there, according to the study of the Centre
for Economics and Business Research. According to them, in 2032, three of the world's four largest economies will be Asian: China, India and Japan.
India will take world leadership in the second half of the century.
According to the CEBR, the United States will lose their first place in 2032, at the expense of China. As for France, it will be dubbed by the British in 2020
Economist who spent 40 years in school wants Trump administration to spend less on education
Today 2:38 PM ET (MarketWatch)
By Jillian Berman
In his new book, 'The Case Against Education,' Bryan Caplan decries the benefits of formal education
He was a student and now he's a professor. But he's had enough of the education system.
The 40 years Bryan Caplan, a libertarian economist, has spent there has made him believe that we should stop investing in it. In "The Case Against
Education: Why the Education System is a Waste of Time and Money," Caplan's new book
(https://www.amazon.com/Case-against-Education-System-Waste/dp/0691174652), he argues that our education system provides little to students in the
way of tangible skills. Instead, he says, much of what our education system provides simply signals to employers that a job candidate has received a societal
stamp of approval.
"There's two totally different reasons why education might help you in your career," Caplan said. "One is the story we like to tell." The other, more truthful
story, according to Caplan: "You jump through a bunch of hoops you show off, employers are interested in you because you have these nice stickers on
your forehead that say 'this is a grade A worker.'"
It's somewhat of a timely release. Caplan said policy makers and education leaders need to do more to tout vocational education, or learning the type of
practical skills that prepares students directly for a job. That may already be happening: The Trump administration's infrastructure plan, released Monday,
includes proposals (https://www.whitehouse.gov/wp-content/uploads/2018/02/INFRASTRUCTURE-211.pdf) that would boost access to federal funds for
short-term job-specific training programs.
Is the cost of a college education worth it?
Caplan's book is the latest entry into the debate over the value of education. Growing college costs and rising student debt have made it easy
(https://www.nytimes.com/2014/05/27/upshot/is-college-worth-it-clearly-new-data-say.html) for many to question whether a bachelor's degree is worth the
time and money it costs. Funding poured into K-12 education systems with dubious outcomes has prompted some to wonder
(https://www.vox.com/2015/3/25/8284637/school-spending-US) whether our education dollars are being put to good use.
But it's rare to go so far as to say that the government's investment in education should be cut altogether. "I realize it's a super unpopular position," Caplan
said. Nonetheless, he believes that pouring money into our education system has pushed us towards credential inflation -- or a situation where a given job
requires more degrees than it did decades ago because the job market is flooded with more educated candidates than ever before.
In the book, Caplan cites data indicating that between the 1970s and the 1990s, workers' average education rose by 1.5 years, but just 20% of that
increase has to do with the fact that modern occupations require more skills.
"If that's what having wide access has done, then if we were to cut spending, have people get less education, things would go in the other direction," he
said. "Employers would say 'I just can't be that picky anymore.'"
But employers reward educated workers with higher salaries
That idea is controversial. Employers are paying more for workers with degrees, which indicates to a certain extent that they're paying for something real,
according to Anthony Carnevale, the director of Georgetown University's Center for Education and the Workforce.
"Were the employers smart in the 70s because they didn't pay for college and then they got dumb?" said Carnevale, who read Caplan's book. "Clearly
they're trying to buy something and what they're trying to buy is skill. They're making huge investments and paying more."
Carnevale agrees that signaling certainly does play a role in the education system. For example, someone who completes four years of college, but never
gets a degree will earn less than someone with the piece of paper. But, Carnevale says, research indicates that students do earn something of value --
besides the piece of paper -- by going through school.
Is education the great equalizer?
Research shows (http://www.tandfonline.com/doi/abs/10.1080/09645292.2015.1059801?journalCode=cede20&#.VcqUSJNViko) that education levels are
typically one of the top three determinants of GDP growth, Carnevale said. What's more, other studies suggest
(http://www.nytimes.com/2006/07/23/magazine/23wwln_idealab.html) that when low-income students are exposed to education, it improves their IQ, he said.
"Clearly schooling and what happens to you from the time you're a little kid and you grow older is dependent on your experience, a large piece of which is
schooling," he said. "Less advantaged kids start out smart, but never get to be all that they can be. More advantaged kids who start out smart do get to be
all that they can be."
Caplan questions the idea that education is a driver of equity because proponents are typically imagining best-case scenarios -- where the education
system clearly benefits an individual. Instead, he said many low-income students, particularly young men, wind up disconnected from the labor market
because our education system encourages them to pursue college above all else, even if they might be disinterested in school.
A better approach would be to have a education system that would give those young men routes to good jobs that don't involve getting a college degree.
"There are people who have mobility denied to them because if they don't have the right degrees, their applications go into the trash," he said.
Carnevale said he agrees with Caplan on the need for more vocational training. Still, Carnevale says, research indicates
(https://www.theatlantic.com/education/archive/2017/06/the-downside-to-career-and-technical-education/529161/) that the best outcomes arise from
curriculum that combine specific skills with some general knowledge. And Caplan's argument? "It will appeal to people who feel resentment to education,
college especially," he said.
-Jillian Berman; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires. February 12, 2018 14:38 ET (19:38 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
Before 2017 ends, I want to say thank you, Peter.
We knew this year would be a difficult one. But it was also full of fierce passion and hope -- from the
millions of people who took to the streets on behalf of the values we share to the activists, newcomers
and veterans alike, who lead us to victories in Virginia, Alabama, and across the country. We really
have seen that we are stronger together (sorry, couldn't resist).
My wish for you is that you're able to take a break this holiday season and spend some time with the
people you love. Bill and I will be celebrating the best way we know how: by sharing our favorite
traditions with the youngest members of our family.
2018 will be a big year for this team. I hope you enjoy your holidays -- and come back refreshed and
ready to win. I know I will.
From our family to yours, I’d like to wish everyone a very happy holiday season this year!
I am so grateful for your support this year -- supporting our efforts in Congress, and helping us make
important victories for the people of San Bernardino County.
I am honored and privileged to continue serving California’s 31st District in the New Year. And Peter
Johann, I can’t wait to get to work fighting for you and the values that you hold dear.
My family and I appreciate your continued generosity and support -- and we wish you and your loved
ones a safe, healthy, and happy holiday season!
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