Dear Rundown Reader,
We hear from a reader who takes on the entire American education system:
“I am a college professor. I can say that the problem isn’t only with colleges and universities but with the whole federally-funded K-12 system. Nearly 80% of my freshmen students are completely unprepared for the level of work and writing needed in a college environment.
“I’m now seeing [college] graduates flow into my graduate courses with an inability to critically read, write, or even produce coherent sentences or paragraphs, let alone actual papers. The problem will be difficult to correct over the next 50 years.
“My Amish neighbors, who only have an 8th-grade education, are better educated than any college freshman. Since the Amish schools aren’t subject to federal and state-mandated content, they actually learn how to read, write (in multiple languages), and do arithmetic such that they can plan an entire house construction project with pencil and paper.
“It’s time we returned to the basics across the country if we want to remain competitive and productive for the rest of the century.
“Otherwise, Idiocracy — here we come.”
And this from a reader who thinks the idiocracy has already arrived:
“You think the Democrats should take back the house/senate?
“Great, nothing would get done and then, in 2020, they sink us deeper in debt.
As if answering the reader above, another writes…
“You’re talking about a president who just put us in $1.5 trillion more debt. Makes college look cheap.”
We appreciate your feedback.
Your Rundown for Thursday, November 1, 2018
Ahh…it’s the start of a new month. Clean slate, endless possibilities and all that. But it never hurts to take a look back to see where we’ve been.
For investors, October’s market was like one of the worst carnival rides you’ve ever been on.
It was jerky to the point of whiplash. It messed with your equilibrium. It made you silently scream for it to stop.
All this while considering the finer points of the ride’s engineering and the sadistic carny at the controls.
Perhaps the turbulence of the Dow best depicts the month’s highs and lows.
And here are some of the factors contributing to the market’s madness:
- Rising interest rates
- U.S.-China trade war
- Diminishing corporate earnings
- Tech shares letdown (8% loss)
For what it’s worth, we found this chart that shows just how far the Dow would have to drop to officially plunge the market into bear territory.
The Dow would have to drop another 10% — or about 2,900 points — from its current level to close 20% below its Oct. 3 record close of 26,828.39
Market Rundown for Thurs. November 1, 2018
S&P 500 futures are up 6.75 points to 2,717.75.
Oil continues down slightly to $65.10.
Gold has rebounded nicely by $15.70, up to $1,230.70.
Bitcoin is down — meh — $2 to $6,340.40.
Have a good day. We’ll talk tomorrow.
For the Rundown,