Here's some potentially VERY good economic news that was lost amid the weekend news flurry.  Those…
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Some Potentially VERY Good Economic News

Here's some potentially VERY good economic news that was lost amid the weekend news flurry.  Those with "skin in the game," and who likely possess the best perspective, are betting heavily on an upturn, as highlighted by Friday's Wall Street Journal:

Corporate insiders are buying stock in their own companies at a pact not seen in years, a sign they are betting on a rebound after a coronavirus-induced rout.  More than 2,800 executives and directors have purchased nearly $1.19 billion in company stock since the beginning of March.  That's the third-highest level on both an individual and dollar basis since 1988, according to the Washington Service, which provides data analytics about trading activity by insiders."

Here's why that's important:

Because insiders typically know the…[more]

March 30, 2020 • 11:02 am

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Jester's CourtroomLegal tales stranger than stranger than fiction: Ridiculous and sometimes funny lawsuits plaguing our courts.
Attacking the Truth Print
By Thomas Sowell
Tuesday, December 15 2015
Much empirical research over the years has confirmed Justice Scalia's concern...

Among the many sad signs of our time are the current political and media attacks on Supreme Court Justice Antonin Scalia, for speaking the plain truth on a subject where lies have been the norm for years.

The case before the High Court is whether the use of race as a basis for admitting students to the University of Texas at Austin is a violation of the 14th Amendment's requirement for government institutions to provide "equal protection of the laws" to all.

Affirmative action is supposed to be a benefit to black and other minority students admitted with lower academic qualifications than some white students who are rejected. But Justice Scalia questioned whether being admitted to an institution geared to students with higher-powered academic records was a real benefit.

Despite much media spin, the issue is not whether blacks in general should be admitted to higher ranked or lower ranked institutions. The issue is whether a given black student, with given academic qualifications, should be admitted to a college or university where he would not be admitted if he were white.

Much empirical research over the years has confirmed Justice Scalia's concern that admitting black students to institutions for which their academic preparation is not sufficient can be making them worse off instead of better off.

I became painfully aware of this problem more than 40 years ago, when I was teaching at Cornell University, and discovered that half the black students there were on some form of academic probation.

These students were not stupid or uneducable. On the contrary, the average black student at Cornell at that time scored at the 75th percentile on scholastic tests. Their academic qualifications were better than those of three-quarters of all American students who took those tests.

Why were they in trouble at Cornell, then? Because the average Cornell student in the liberal arts college at that time scored at the 99th percentile. The classes taught there — including mine — moved at a speed geared to the verbal and mathematical level of the top one percent of American students.

The average white student would have been wiped out at Cornell. But the average white student was unlikely to be admitted to Cornell, in the first place. Nor was a white student who scored at the 75th percentile.

That was a "favor" reserved for black students. This "favor" turned black students who would have been successful at most American colleges and universities into failures at Cornell.

None of this was peculiar to Cornell. Black students who scored at the 90th percentile in math had serious academic problems trying to keep up at M.I.T., where other students scored somewhere within the top 99th percentile.

Nearly one-fourth of these black students with stellar qualifications in math failed to graduate from M.I.T., and those who did graduate were concentrated in the bottom tenth of the class.

There were other fine engineering schools around the country where those same students could have learned more, when taught at a normal pace, rather than at a breakneck speed geared to students with extremely rare abilities in math.

Justice Scalia was not talking about sending black students to substandard colleges and universities to get an inferior education. You may in fact get a much better education at an institution that teaches at a pace that you can handle and master. In later life, no one is going to care how fast you learned something, so long as you know it.

Mismatching students with educational institutions is a formula for needless failures. The book "Mismatch," by Sander and Taylor is a first-rate study of the hard facts. It shows, for example, that the academic performances of black and Hispanic students rose substantially after affirmative action admissions policies were banned in the University of California system.

Instead of failing at Berkeley or UCLA, these minority students were now graduating from other campuses in the University of California system. They were graduating at a higher rate, with higher grades, and now more often in challenging fields like math, science and technology.

Do the facts not matter to those who are denouncing Justice Scalia? Does the actual fate of minority students not matter to the left, as much as their symbolic presence on a campus?

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Thomas Sowell is a senior fellow at the Hoover Institution, Stanford University. 
© 2015 Creators Syndicate Inc.

Question of the Week   
In which one of the following years did Congress first meet in Washington, D.C.?
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"The Chinese Communist Party (CCP) is waging a ferocious, global propaganda campaign designed to deflect blame for the origin and spread of the COVID-19 outbreak from Wuhan, China. Moreover, Beijing is trying to take advantage of the pandemic to increase its global standing and influence. ...If Beijing escapes blame for its failure to curb the coronavirus pandemic, its lies, and its attempts to cover…[more]
 
 
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Who is most to blame for the delay in passage of the critical coronavirus economic recovery (or stimulus) bill?