As ‘Jobs Hard to Get Number’ Hits 28-Year High, AP Claims Consumers’ Related Feelings Are ‘Mixed Bag’
September 27, 2011 No Comment
The Conference Board's September Consumer Confidence Survey came out this morning . Overall, it rose very slightly from a miserable 45.2 to a still-miserable 45.4. Consumers' assessment of near-term prospects slid from 34.3 to in August to 32.5, while their longer-term outlook improved from 52.4 to 54.0. At the Associated Press ( saved here for future reference, fair use and discussion purposes), Retail Writer Anne D'Innocenzio characterized the element of the report relating to jobs thusly: Consumers' feelings about jobs and wages also were a mixed bag. Those claiming jobs are “hard to get” increased to 50.0 percent, from 48.5 percent, while those stating jobs are “plentiful” increased to 5.5 percent from 4.8 percent. Meanwhile, the proportion of consumers anticipating an increase in their incomes, declined to 13.3 percent from 14.3 percent. D'Innocenzio's “mixed bag” is heavy on the bitter and awfully light on the sweet. Two of three items she cited moved unfavorably by 1% or more, while the one favorable item still only represents only 1 in 18 surveyed. But, as several other reports noted, including this one from Reuters in its very first sentence, the jobs element of the survey was really much worse in historical context (HT Zero Hedge ; bolds are mine): Consumer confidence was little changed in September amid concerns about income as a gauge of labor market conditions deteriorated to its worst since 1983 , an independent survey showed on Tuesday. … In a sign that people were struggling to find employment, the jobs-hard-to-get index rose to 50.0, the highest level since May 1983, from 48.5 the previous month. Gosh Anne, even though you're not alone ( as seen here at MarketWatch), how did you miss that? Bloomberg/BusinessWeek didn't . Fox Business didn't . The Financial Times didn't . You would think that the Essential Global New Network would have been ready for the possibility that this kind of dubious record might occur. Ms. D'Innocenzio and the rest of the crew at AP still have a few hours to get this obviously newsworthy factoid into revised reports. If they don't, I'll submit that it's because they don't want news consumers to know. Cross-posted at BizzyBlog.com .
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Exam board suggested awarding bonus points to students from low-performing schools who achieve top grades Politicians and universities have condemned a proposal to rank every A-level student in the country and award bonus points to those from low-performing schools who achieve top grades. Britain’s biggest exam board, the Assessment and Qualifications Alliance (AQA), is floating the idea at the party conferences, arguing that it would help universities identify bright pupils from disadvantaged backgrounds. Neil Stringer, author of the proposal and a senior research associate at the exam board’s Centre for Education Research and Policy, suggests students should be awarded an exam score based on their three best A-level grades, then put into different performance bands. Those who attend weak schools, but perform highly would be awarded extra points, while those who perform well at top public schools would have points subtracted. All pupils would then be ranked based on their final scores. The proposal, contained in a discussion paper, has elicited strong criticism within education circles and from all sides of the political spectrum. Nick Gibb, the schools minister, said the main way to guarantee universities took a wider range of students was to improve schools and ensure that “more young people achieve good grades in the right subjects – regardless of background”. He said the proposal risked confusing employers, teachers and pupils by giving different values to the same A-levels and warned that it would undermine the integrity of exams. Andy Burnham, Labour’s shadow education secretary, said rather than adopt AQA’s idea, schools should do “a little more to raise aspiration”, and universities that interview candidates should consider the culture of an interview process which “often replicates the atmosphere of private schools.” The Russell Group, which represents Oxford, Cambridge and eight other leading universities, described the exam board’s proposal as “crude and highly unlikely to help widen access”. Wendy Piatt, director general of the Russell Group, said admissions tutors already considered students’ academic achievements within a broader context: “Our universities often use personal statements, references, additional tests and interviews, as well as taking into account any particular barriers – such as spending time in care – that candidates have faced.” She said that AQA’s overly simplistic ranking system was at odds with this holistic approach. “No single measure of educational context could fairly rank all applicants, and we would warn against such crude approaches. Social and economic disadvantage are complex problems that are difficult to measure reliably, especially at the level of individual applicants.” Million+ , which represents universities formed after 1992, said many of its institutions had already developed systems that took into account applicants’ backgrounds, thereby enabling them to identify talented students from less advantaged homes. Professor Malcolm Gillies, vice-chancellor of London Metropolitan University, said the proposals failed because it was the “individual students” who were admitted to university and who gained the grades, not the schools. “If there is any hint that grades are socially moderated in any way their value will be diminished,” he said. “Universities need to see the naked grades.” Toni Pearce, the National Union of Students’ vice-president for further education said that the proposal amounted to “merely a sticking plaster”. “We should not lose sight of the overriding need to improve educational standards across the board,” she said. Stringer told the Independent that he had been influenced by St George’s medical school, which is part of the University of London. It gives a lower offer to students whose performance is at least 60% better than the average for their school. “This strongly suggests that students admitted through the adjusted-criteria scheme learned enough at A-level and are able-enough learners to compete successfully with students who achieved higher A-level grades under more favourable circumstances,” he said. This summer , universities had to set out how they would widen their pool of students if they want to charge more than £6,000 a year from next year. Every institution was forced to adopt an “access agreement” approved by the Office for Fair Access watchdog. The access agreements will be reviewed each year, with institutions that fail to meet their agreed targets on recruitment and retention facing fines or losing the right to charge more than £6,000. A-levels Higher education Schools Andy Burnham Jessica Shepherd Jeevan Vasagar guardian.co.uk
Continue reading …Exam board suggested awarding bonus points to students from low-performing schools who achieve top grades Politicians and universities have condemned a proposal to rank every A-level student in the country and award bonus points to those from low-performing schools who achieve top grades. Britain’s biggest exam board, the Assessment and Qualifications Alliance (AQA), is floating the idea at the party conferences, arguing that it would help universities identify bright pupils from disadvantaged backgrounds. Neil Stringer, author of the proposal and a senior research associate at the exam board’s Centre for Education Research and Policy, suggests students should be awarded an exam score based on their three best A-level grades, then put into different performance bands. Those who attend weak schools, but perform highly would be awarded extra points, while those who perform well at top public schools would have points subtracted. All pupils would then be ranked based on their final scores. The proposal, contained in a discussion paper, has elicited strong criticism within education circles and from all sides of the political spectrum. Nick Gibb, the schools minister, said the main way to guarantee universities took a wider range of students was to improve schools and ensure that “more young people achieve good grades in the right subjects – regardless of background”. He said the proposal risked confusing employers, teachers and pupils by giving different values to the same A-levels and warned that it would undermine the integrity of exams. Andy Burnham, Labour’s shadow education secretary, said rather than adopt AQA’s idea, schools should do “a little more to raise aspiration”, and universities that interview candidates should consider the culture of an interview process which “often replicates the atmosphere of private schools.” The Russell Group, which represents Oxford, Cambridge and eight other leading universities, described the exam board’s proposal as “crude and highly unlikely to help widen access”. Wendy Piatt, director general of the Russell Group, said admissions tutors already considered students’ academic achievements within a broader context: “Our universities often use personal statements, references, additional tests and interviews, as well as taking into account any particular barriers – such as spending time in care – that candidates have faced.” She said that AQA’s overly simplistic ranking system was at odds with this holistic approach. “No single measure of educational context could fairly rank all applicants, and we would warn against such crude approaches. Social and economic disadvantage are complex problems that are difficult to measure reliably, especially at the level of individual applicants.” Million+ , which represents universities formed after 1992, said many of its institutions had already developed systems that took into account applicants’ backgrounds, thereby enabling them to identify talented students from less advantaged homes. Professor Malcolm Gillies, vice-chancellor of London Metropolitan University, said the proposals failed because it was the “individual students” who were admitted to university and who gained the grades, not the schools. “If there is any hint that grades are socially moderated in any way their value will be diminished,” he said. “Universities need to see the naked grades.” Toni Pearce, the National Union of Students’ vice-president for further education said that the proposal amounted to “merely a sticking plaster”. “We should not lose sight of the overriding need to improve educational standards across the board,” she said. Stringer told the Independent that he had been influenced by St George’s medical school, which is part of the University of London. It gives a lower offer to students whose performance is at least 60% better than the average for their school. “This strongly suggests that students admitted through the adjusted-criteria scheme learned enough at A-level and are able-enough learners to compete successfully with students who achieved higher A-level grades under more favourable circumstances,” he said. This summer , universities had to set out how they would widen their pool of students if they want to charge more than £6,000 a year from next year. Every institution was forced to adopt an “access agreement” approved by the Office for Fair Access watchdog. The access agreements will be reviewed each year, with institutions that fail to meet their agreed targets on recruitment and retention facing fines or losing the right to charge more than £6,000. A-levels Higher education Schools Andy Burnham Jessica Shepherd Jeevan Vasagar guardian.co.uk
Continue reading …Exam board suggested awarding bonus points to students from low-performing schools who achieve top grades Politicians and universities have condemned a proposal to rank every A-level student in the country and award bonus points to those from low-performing schools who achieve top grades. Britain’s biggest exam board, the Assessment and Qualifications Alliance (AQA), is floating the idea at the party conferences, arguing that it would help universities identify bright pupils from disadvantaged backgrounds. Neil Stringer, author of the proposal and a senior research associate at the exam board’s Centre for Education Research and Policy, suggests students should be awarded an exam score based on their three best A-level grades, then put into different performance bands. Those who attend weak schools, but perform highly would be awarded extra points, while those who perform well at top public schools would have points subtracted. All pupils would then be ranked based on their final scores. The proposal, contained in a discussion paper, has elicited strong criticism within education circles and from all sides of the political spectrum. Nick Gibb, the schools minister, said the main way to guarantee universities took a wider range of students was to improve schools and ensure that “more young people achieve good grades in the right subjects – regardless of background”. He said the proposal risked confusing employers, teachers and pupils by giving different values to the same A-levels and warned that it would undermine the integrity of exams. Andy Burnham, Labour’s shadow education secretary, said rather than adopt AQA’s idea, schools should do “a little more to raise aspiration”, and universities that interview candidates should consider the culture of an interview process which “often replicates the atmosphere of private schools.” The Russell Group, which represents Oxford, Cambridge and eight other leading universities, described the exam board’s proposal as “crude and highly unlikely to help widen access”. Wendy Piatt, director general of the Russell Group, said admissions tutors already considered students’ academic achievements within a broader context: “Our universities often use personal statements, references, additional tests and interviews, as well as taking into account any particular barriers – such as spending time in care – that candidates have faced.” She said that AQA’s overly simplistic ranking system was at odds with this holistic approach. “No single measure of educational context could fairly rank all applicants, and we would warn against such crude approaches. Social and economic disadvantage are complex problems that are difficult to measure reliably, especially at the level of individual applicants.” Million+ , which represents universities formed after 1992, said many of its institutions had already developed systems that took into account applicants’ backgrounds, thereby enabling them to identify talented students from less advantaged homes. Professor Malcolm Gillies, vice-chancellor of London Metropolitan University, said the proposals failed because it was the “individual students” who were admitted to university and who gained the grades, not the schools. “If there is any hint that grades are socially moderated in any way their value will be diminished,” he said. “Universities need to see the naked grades.” Toni Pearce, the National Union of Students’ vice-president for further education said that the proposal amounted to “merely a sticking plaster”. “We should not lose sight of the overriding need to improve educational standards across the board,” she said. Stringer told the Independent that he had been influenced by St George’s medical school, which is part of the University of London. It gives a lower offer to students whose performance is at least 60% better than the average for their school. “This strongly suggests that students admitted through the adjusted-criteria scheme learned enough at A-level and are able-enough learners to compete successfully with students who achieved higher A-level grades under more favourable circumstances,” he said. This summer , universities had to set out how they would widen their pool of students if they want to charge more than £6,000 a year from next year. Every institution was forced to adopt an “access agreement” approved by the Office for Fair Access watchdog. The access agreements will be reviewed each year, with institutions that fail to meet their agreed targets on recruitment and retention facing fines or losing the right to charge more than £6,000. A-levels Higher education Schools Andy Burnham Jessica Shepherd Jeevan Vasagar guardian.co.uk
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Bernard Hogan-Howe keen to fast-track ‘lateral’ entry in bid to widen diversity of police The new commissioner of the Metropolitan police wants to increase diversity in the force by bringing in senior recruits from outside the service. Bernard Hogan-Howe, who officially took control of the Met this week, believes the police must be more representative of the population – and one way to fast-track that, particularly in more senior ranks, was to look outside the police for talent. “I wouldn’t take every superintendent from outside next year, but I might take 20% if they have got the right skills and we gave them the right training,” he said. “That training is not available yet, so it needs some planning for but I am open-minded.” The commissioner, who said he knew that he could “radically cut crime”, said that in other professions there were higher proportions of individuals from ethnic minorities in senior positions and the police service had to improve its diversity. Currently the only way to join the police service is as a constable, although talented individuals and those with degrees are often promoted quickly through the ranks. Allowing the service to bring people from outside policing into senior ranks – so-called “lateral” entry – is opposed by the Police Federation and the Police Superintendents Association. But the policy has been cited by police minister, Nick Herbert, as a way to increase diversity quickly within the service. Nationally about 220 senior officers make up the leaders of the 43 forces in England and Wales. Only 38 are women and three are from ethnic minorities. The proportion of black and ethnic minority officers across the Met stands at about 10%. Hogan-Howe said that among police staff and community support officers, the proportion of people from ethnic minorities was much greater – about one in three. “We need to be more representative of the people of London,” he said. “There is clearly a lot more to do. Lateral entry is something we need to move on to and encourage. “We either wait 20 years for something to grow from within the organisation or we take an opportunity to get a pool of talent who will encourage us to improve, to get new skills and new ideas that will benefit us in the long run.” He acknowledged that his strategy of “total policing” would focus in part on tapping into the intelligence held in local communities about those individuals who were, for example, carrying knives. That was made easier if communities saw in police officers people from the same background as themselves. The issue is one David Lammy, the MP for Tottenham, has raised with the mayor of London and the home secretary as vital to tackle if the Met is to continue policing by consent in the capital. Police Bernard Hogan-Howe Sandra Laville guardian.co.uk
Continue reading …Bernard Hogan-Howe keen to fast-track ‘lateral’ entry in bid to widen diversity of police The new commissioner of the Metropolitan police wants to increase diversity in the force by bringing in senior recruits from outside the service. Bernard Hogan-Howe, who officially took control of the Met this week, believes the police must be more representative of the population – and one way to fast-track that, particularly in more senior ranks, was to look outside the police for talent. “I wouldn’t take every superintendent from outside next year, but I might take 20% if they have got the right skills and we gave them the right training,” he said. “That training is not available yet, so it needs some planning for but I am open-minded.” The commissioner, who said he knew that he could “radically cut crime”, said that in other professions there were higher proportions of individuals from ethnic minorities in senior positions and the police service had to improve its diversity. Currently the only way to join the police service is as a constable, although talented individuals and those with degrees are often promoted quickly through the ranks. Allowing the service to bring people from outside policing into senior ranks – so-called “lateral” entry – is opposed by the Police Federation and the Police Superintendents Association. But the policy has been cited by police minister, Nick Herbert, as a way to increase diversity quickly within the service. Nationally about 220 senior officers make up the leaders of the 43 forces in England and Wales. Only 38 are women and three are from ethnic minorities. The proportion of black and ethnic minority officers across the Met stands at about 10%. Hogan-Howe said that among police staff and community support officers, the proportion of people from ethnic minorities was much greater – about one in three. “We need to be more representative of the people of London,” he said. “There is clearly a lot more to do. Lateral entry is something we need to move on to and encourage. “We either wait 20 years for something to grow from within the organisation or we take an opportunity to get a pool of talent who will encourage us to improve, to get new skills and new ideas that will benefit us in the long run.” He acknowledged that his strategy of “total policing” would focus in part on tapping into the intelligence held in local communities about those individuals who were, for example, carrying knives. That was made easier if communities saw in police officers people from the same background as themselves. The issue is one David Lammy, the MP for Tottenham, has raised with the mayor of London and the home secretary as vital to tackle if the Met is to continue policing by consent in the capital. Police Bernard Hogan-Howe Sandra Laville guardian.co.uk
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Bernard Hogan-Howe keen to fast-track ‘lateral’ entry in bid to widen diversity of police The new commissioner of the Metropolitan police wants to increase diversity in the force by bringing in senior recruits from outside the service. Bernard Hogan-Howe, who officially took control of the Met this week, believes the police must be more representative of the population – and one way to fast-track that, particularly in more senior ranks, was to look outside the police for talent. “I wouldn’t take every superintendent from outside next year, but I might take 20% if they have got the right skills and we gave them the right training,” he said. “That training is not available yet, so it needs some planning for but I am open-minded.” The commissioner, who said he knew that he could “radically cut crime”, said that in other professions there were higher proportions of individuals from ethnic minorities in senior positions and the police service had to improve its diversity. Currently the only way to join the police service is as a constable, although talented individuals and those with degrees are often promoted quickly through the ranks. Allowing the service to bring people from outside policing into senior ranks – so-called “lateral” entry – is opposed by the Police Federation and the Police Superintendents Association. But the policy has been cited by police minister, Nick Herbert, as a way to increase diversity quickly within the service. Nationally about 220 senior officers make up the leaders of the 43 forces in England and Wales. Only 38 are women and three are from ethnic minorities. The proportion of black and ethnic minority officers across the Met stands at about 10%. Hogan-Howe said that among police staff and community support officers, the proportion of people from ethnic minorities was much greater – about one in three. “We need to be more representative of the people of London,” he said. “There is clearly a lot more to do. Lateral entry is something we need to move on to and encourage. “We either wait 20 years for something to grow from within the organisation or we take an opportunity to get a pool of talent who will encourage us to improve, to get new skills and new ideas that will benefit us in the long run.” He acknowledged that his strategy of “total policing” would focus in part on tapping into the intelligence held in local communities about those individuals who were, for example, carrying knives. That was made easier if communities saw in police officers people from the same background as themselves. The issue is one David Lammy, the MP for Tottenham, has raised with the mayor of London and the home secretary as vital to tackle if the Met is to continue policing by consent in the capital. Police Bernard Hogan-Howe Sandra Laville guardian.co.uk
Continue reading …Thom Hartmann with Rick Perlstein – Could World Social Unrest Hit America?
September 27, 2011 No CommentFrom Thom Hartmann : Thom Hartmann asks Rick Perlstein, Historian and Journalist / Author, “Nixonland: The Rise of a President and the Fracturing of America”, if the U.S. could see the kind of social unrest that we are seeing in other parts of the world? A very thoughtful discussion with our new contributor, we’re so lucky to have here at C&L, Rick Perlstein on voters’ disappointment with President Obama after voting for someone who used the language of revolution when running for office and turning to the establishment after being elected and asking “Will America have another revolution?”
Continue reading …Thom Hartmann with Rick Perlstein – Could World Social Unrest Hit America?
September 27, 2011 No CommentFrom Thom Hartmann : Thom Hartmann asks Rick Perlstein, Historian and Journalist / Author, “Nixonland: The Rise of a President and the Fracturing of America”, if the U.S. could see the kind of social unrest that we are seeing in other parts of the world? A very thoughtful discussion with our new contributor, we’re so lucky to have here at C&L, Rick Perlstein on voters’ disappointment with President Obama after voting for someone who used the language of revolution when running for office and turning to the establishment after being elected and asking “Will America have another revolution?”
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Click here to view this media YouTube version Impending economic Armageddon is apparently a great time to make money. This clip from the BBC will likely leave you as gobsmacked as it did me. via the International Business Times : Stock market trader Alessio Rastani commented on the current economic crisis to the BBC on Monday, saying, “Governments don’t rule the world” but rather Goldman Sachs does and he “dreams of another recession.” “This is not a time right now for wishful thinking that governments are going to sort things out,” Rastani told the BBC. “The governments don’t rule the world, Goldman Sachs rules the world.” In a candid interview about the Eurozone rescue plan, Rastani said the market is ruled by fear and cannot be saved by the rescue plan. “They know the stock market is toast,” he said. “They know the stock market is finished.” Rastani said most investors are moving their money to places it would be more safe, like U.S. treasuries and the dollar, as they simply do not care about the state of the economy but rather about their own pockets. “Personally it doesn’t matter,” he said. “See I’m a trader. I don’t really care about that kind of stuff. If I see an opportunity to make money, I go with that.” Rastani continued on to say that most other traders, like him, are not interested in the climate of the economy but only care about making money. “For most traders…we don’t really care that much about how they’re going to fix the economy, how they’re going to fix the whole situation,” Rastani said. “Our job is to make money from it.” Finding optimism in a grim situation, Rastani said he’s been “dreaming” of this moment for years. “I go to bed every night, I dream of another recession,” he said. UPDATE: Forbes wanted to know if this was a joke or whether Rastani was serious. Yesterday a purported independent trader going by the name Alessio Rastani appeared on BBC and said some delicious things, namely that he’s been dreaming about a recession and that Goldman Sachs rules the world. Gawker promptly called him a “sociopath.” My colleague at Forbes said he might be a psychopath. Some people commenting on his Facebook page called him a “muppet,” a “nasty little self-publicist” and a “totally honest bastard who wants to rise to the top of [on] the rest of the world’s misery.” Another suggested that he die. So they proceeded to interview him. On this matter he said: FORBES: What do you think of the attention you’ve received since going on TV? AR: I think it’s overblown. I have no idea why I’m getting this attention. I don’t think it was news. For someone to say what I said, I thought everybody already knew this kind of stuff. The big players of funds rule the world, I don’t think that was news. And what I said about making money from a crash, obviously not everybody knows about that, you can make money from a downward market. A lot of people just got the wrong end of the foot, misunderstood what I was saying. They thought I was joyful or licking my lips about the idea of making money from people’s miseries. That’s probably the way it looked on the video. But if they watch the whole video, what I was really trying to say is people need to educate themselves about how to do that… what I was trying to say was, look, everyone should basically prepare. I was trying to be the good guy. If this market’s going to crash, then you’ve got to prepare yourself. You’ve got to basically learn how to make money from this. Otherwise you’ll be like I did 10 years ago … I made some huge mistakes 10 years ago, during the dotcom crash. I realized it was a falling knife. I was trying to say look guys, it’s not just for traders, it’s for everyone. They should ask me how to do it, I will help you. UPDATE 2: The Yes Men deny any involvement , issuing this statement: The Yes Men wish to commend Mr. “Alessio Rastani” for his masterful performance as “trader” on BBC World yesterday. Mr. Rastani’s real name is Granwyth Hulatberi; he once appeared on CNBC MarketWrap as a “representative” of the WTO. Well done, Granwyth! You’re getting better and better. Just kidding. We’ve never heard of Rastani. Despite widespread speculation, he isn’t a Yes Man. He’s a real trader who is, for one reason or another, being more honest than usual. Who in big banking doesn’t bet against the interests of the poor and find themselves massively recompensed—if not by the market, then by humongous taxpayer bailouts? Rastani’s approach has been completely mainstream for several years now; we must thank him for putting a human face on it yesterday.
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