The whole story on Common Core

Read the sourced and footnoted response to the National Review Online and get all the facts you need to know about Common Core HERE. Compiled by American Principles project and Glenn's research team.

Common Core is the new set of federal education standards being pushed by the Obama administration and several leftist organizations but it’s even seeing some support from some conservatives. National Review Online wrote a piece defending Common Core, and Glenn gave the definitive response on radio today.

"Common Core is something that we didn't really get for quite some time and again it's something we've learned from the 9/12 project and concerned parents all around the country that have been bringing this to our attention. When we started in on this work, we thought it was pretty bad. The more we do, the worse it becomes," Glenn said.

Below are some of the points made by the National Review Online in defense of Common Core, followed by Glenn's response.

National Review Online (NRO): Common Core is not “ObamaCore,” as some suggest. While President Obama often tries to claim credit, the truth is that the development of Common Core was well underway before he took office in January 2009.

Glenn: First of all, that's just not true. Even though I've never called it Obama Core or alleged that it came solely from the president, the development of Common Core itself didn't happen until 2009.

NRO: Some argue that states were coerced into adopting Common Core by the Obama administration as a requirement for applying for its Race to the Top grant competition (and No Child Left Behind waiver program).

Glenn: Okay. I would imagine when they say some are implying, that would be me. Yes, some argue that states were coerced because they were coerced. $4.35 billion was earmarked for states who would take the bait. The money was offered in the stimulus package and, of course, 45 states immediately jumped on it. We warned you not to at the time. We didn't know why it was a bad thing. We just knew this was a bad thing: Don't jump on that money. Now we know.

NRO: Education policymaking — and 90 percent of funding — is still handled at the state and local levels. And tying strings to federal education dollars is nothing new. No Child Left Behind — George W. Bush’s signature education law — linked federal Title I dollars directly to state education policy, and states not complying risked losing millions in compensatory-education funding (that is, funding for programs for children at risk of dropping out of school).

GLENN: Okay. So now what does this mean? That we've linked it and it's been linked since George W. Bush. Yes. Yes. Progressives. Progressive steps. So you can always say it's the frog in the water. Remember? You boil a frog, you just put them in there while the water's cool and he never, he never ‑‑ but you throw him in the hot water and he jumps right out. Right? This is nothing new. You've been in that pot for a while. It was cold water. Sure, it might be getting a little warmer now but it's the same pot. This is more of the, "George Bush did something sort of like this. So it has to be okay with you guys, right?" No. No. I and you should absolutely reject that line of thinking.

NRO: Perhaps the clearest evidence that states can still set their own standards is the fact that five states have not adopted Common Core. Some that have adopted it might opt out, and they shouldn’t lose a dime if they do.

GLENN: Seeing and hearing this kind of ridiculous nonsense, I can't help but wonder if this was written by maybe a fifth grader that, you know, will be tested soon. The fact that 90% of the states took the money and the program, that's your clearest evidence that states can still set their own standards? I mean, that's frightening. I mean, I hope, I hope two of the, you know, experts that wrote this defense aren't actually involved in the education of our children. The bribe kids worked for 90% for those who were offered the bribe and that proves that bribes don't work.

First of all, Texas is one of those states that opt out. We got instead CSCOPE. Just as bad. And the Republicans are doing CSCOPE. Just because some have adopted might opt out. Listen to that. Some have adopted and they might opt out. And they shouldn't lose a dime if they do. Okay. They might opt out, and monkeys might fly out of my pants. And if they do, I shouldn't lose a dime.

Have the two of you right‑leaning educators seen a single news report in the last ten years? Because there's a lot of stuff that shouldn't happen that has.

"They deny in this article that there is any need for concern over the leftist indoctrination. Common Core is funded by Bill and Melinda Gates and Linda Darling‑Hammond, an education adviser for Barack Obama's campaign. Oh. Well, pardon me if you got ‑‑ if you got Bill and Melinda Gates and the, what was it, the education adviser for Barack Obama, I mean, I don't know why I'd be a tad skeptical of that group," Glenn said.

Glenn also heavily criticized the emphasis on informational texts over classical literature.

New Republic Online: The most prominent criticism of Common Core is that it abandons classical literature and instead forces students to read dry government manuals. This claim reflects a profound and perhaps deliberate misunderstanding of Common Core literacy standards, which do encourage increased exposure to informational texts and literary nonfiction. The goal is to have children read challenging texts that will build their vocabulary and background knowledge, a strategy grounded in what education scholar E. D. Hirsch has shown: A broad, content-rich curriculum reduces the achievement gap between the middle class and the poor.

GLENN: Common Core also shifts away from classic literature and allows for the reading of informational texts. Now, what is informational texts? And by the way, it shifts as the years progress. When you're in ‑‑ when you're in first grade, you read fewer and fewer informational texts and you read more of the classic literature that is approved. But by the time you hit high school, I think you're at 60%, or is it 80% of informational texts? And what are the informational texts? Those are ‑‑ those are handbooks from the EPA on how to make sure that your siding and your insulation is good in your house. Who in their right mind wants to read the government handbooks?

...

This will invite greater and greater indoctrination and bias in the selection and teachings of the texts. You're narrowing things down. You've only got 20% or 40% that is going to be able to be a classic by the time they're in high school, and what kid will learn love of reading from reading any, any government handbook? Who ‑‑ what kid will learn anything except to go dead inside? The article, co‑written by Kathleen Porter McGee, she's a fellow at the Fordham Institute, she makes a ‑‑ she makes the claim, the Fordham Institute has carefully examined Common Core and compared it with existing state standards and it's found that for most states Common Core is a great improvement with regard to rigor and cohesiveness.

"The battle, my friends, is on," Glenn said. "The missiles are coming not just from the left but also the right. As we fight this insidious menace to our children and to our families ‑‑ and that's exactly what it is ‑‑ we are going to have a difficult time discerning who our allies are."

"This article appeared in the National Review Online, attacking me and Michelle Malkin for daring to speak out against Common Core, defending this horrific mess, a mess that is without any question the darling of Barack Obama. This article came from scholars who supposedly are right‑leaning. What is their motivation? I have no idea. I don't know them. I've never heard of either of them. But the point is the shells will come from both sides. So you're going to have to do your own homework unlike you've ever done before. You're going to have to know what you're talking about."

"The defense of Common Core doesn't even mention all of the data mining that will take place from Microsoft, the biowristbands they want to use on our kids, the FCAT scans that are in the Department of Education's own paperwork. The rest of the 1984 tight monitoring systems, all of it, all of it of course is simply going to be done to help your children. It will help educators help your kids. It will make them safer, smarter, more secure. This is the progressive movement coming in for the kill. And believe me, if we don't stop it, this will be the kill. But we can't and we won't allow it."

Glenn created "The Senate Fails to Condemn INFANTICIDE" in response to the Senate not passing Nebraska Senator Ben Sasses' bill banning infanticide early this year. In an effort to help support pro-life charities, Glenn first posted this for sale on eBay before being banned multiple times before we finally had enough and put it up for sale on bidpal.net.

At the time of this post, the bid was up to $4,700 — but we can do better than that. Please help us raise money for a good cause, you don't even have to display it anywhere in your home, you can just keep it in storage or something! If you want this priceless piece created by one of the most influential people in the world of art, place your bids here.

Can you remember the economic crisis of 2008 and how you felt when the news broke that Lehman Brothers had collapsed? I have found an economic threat that everyone needs to be aware of, so you can prepare yourself in case we see another 2008 type collapse. I am going to present the evidence to you and I urge you to verify everything and to form your own opinion.

What is that threat?

It is a bank called Deutsche Bank. They are by far the most dominant bank in Germany which is the world's fourth-largest economy. In 2018 they had €2.08 Trillion worth of assets and the second-placed bank (DZ Bank) had €506 Billion worth of assets. To show you how dominant this bank is, they have more assets than the 2nd, 3rd, 4th, 5th and 6th sized banks combined.
When we review a business there are three key parts to analysis:

  • Market sentiment
  • Business numbers
  • Technical Analysis

Market Sentiment

Deutsche Bank has a long history of potential scandals including going all the way back to World War 2 and dealing in Nazi gold. Below are five recent stories which have increased the negative sentiment around Deutsche Bank.

  1. In 2007, they purchased a portfolio of loans worth $7.8 billion and purchased insurance from Warren Buffets Company. It was discovered they did not set aside enough capital to cover any potential losses. Over the course of the ten years, they lost $1.6 billion, and when they sold the loan they did not update their financial statements to include the big loss
  2. The Panama Papers are an ongoing investigation looking for many things including offshore tax havens. These investigations have resulted in several heads of state resigning including in Iceland and Pakistan. Last November, 170 police raided 6 different offices in Frankfurt looking for evidence of money laundering.
  3. Estonia is a small country in Eastern Europe. It has a population of 1.3 million people and a GDP of €26 billion. In January, it was discovered Deutsche Bank got involved with a Danish bank called Danke Bank and processed over $230 billion worth of cross country payments (including from Soviet Russia) through one bank in Estonia.
  4. There have been rumors of issues with Deutsche for a while now and one of the solutions put forth was a merger with a bank called CommerzBank. The leaders of both companies met and they even got support from politicians. In April, news broke that the merger talks had failed because over worries the risks and costs would be too great.
  5. Last week in France, Investment banking boss Garth Ritchie and others were arrested in France over illicit tax transactions.

Business Numbers

Deutsche Bank is already struggling as they are losing staff, losing market share, and bonuses are expected to be down at least 10% and further rounds of cost-cutting to come. Now imagine the impact if business costs start going up.

The banking industry works in a very simple way. They raise funds through large bonds at low-interest rates and then sell those funds to business and individuals thru products like loans and credit cards at a higher interest rate which results in a potential profit.

Earlier this year, Deutsche Bank tried raising money through several bonds. They paid 180bp (basis points) on a two-year bond and 230bp on a seven-year bond. Let me put this in context for you. There is a small bank in Spain called Caixabank which paid 225bp on a five-year bond and one of the larger banks in Spain, BBVA paid 130bp on a five-year bond.

  • How and why is a small bank in Spain getting a better deal on bonds than a huge bank in Germany?
  • Why is a large bank in Spain getting a bond 100bp cheaper than a German bank?
  • What does the market know that we do not?

Stock Price

Deutsche is also missing revenue projections which further hurt the business ability to survive and prosper. As you can imagine all of this news has a deep and lasting impact on its stock price which is in deep trouble. Before I share the stock price, I need to put this into the context of the market and the industry compared to the big economic crash of 2008. Below you will see a chart of some banking stocks from around the world with their peak price prior to the 2008 crash, the low of the 2008 recession and the price today:

As you can see from the above chart the banks in America have recovered from the 2008 recession by anywhere up 375% and JP Morgan has not only recovered its price in full but is constantly setting new high's. Ireland went bankrupt and had to be bailed out by the EU/IMF following the 2008 crash and even our national bank has more than doubled its price since 2008. The worst performing bank I could find was Societe Generale which has issues but is still hovering around its 2008 low price levels.

Now let's put that into the context of Deutsche Bank. Not only has the stock not rebounded but it is over 65% below its 2008 low at $6.75.

Technical Analysis

When you are dealing with the stock market, you also have people who study pricing through technical analysis. Experts look at things like FIB sequences, trend lines, and support levels. Support levels are a key metric for a stock failing because are looking to find where it will find support and potentially bounce higher.

We are very close to a key support level ($6.40) and if the price goes below this level, there is no saying exactly how low the price could go. At least one company expects Deutsche to fall below this support level, as several weeks ago UBS downgraded the stock to a sell order. This news was compounded last Friday when rating agency Fitch, downgraded their credit rating to BBB or two levels above JUNK status.

Other Information

I know you are likely reading this and thinking "this bank must have smart people in charge and surely they have a plan, right?" I am sure there is a plan and while they have kept their cards close to their chest, they have spoken in the past about the areas they foresee having growth for the company – they include business in Saudi Arabia, UAE, and Egypt. Do they strike you as countries which are stable and will offer steady and reliable growth? Do you have to think really hard to imagine how this could go potentially very wrong?

Questions

I believe there is at least a solid case Deutsche is in a LOT of trouble. So what are possible scenarios for the future? I will lay out the key questions below but I must stress that it's impossible to say for sure what exactly will happen. One of the key numbers to remember here is they have roughly €50 billion worth of derivatives.

  • How likely is it that the bank can turn things around and survive?
  • How likely is it the bank continues to run into trouble, its stock price fails and eventually fails?
  • If you think it is likely it will fail, the question becomes what will the fallout be? Who will be affected?
  • Will they be bailed out?
  • If so, by whom? The German government, ECB, IMF, the Federal Reserve?
  • What will the German government think? Some members recently spoke out saying they would block public money for the proposed merger? Will they block funds if it failed?
  • Will other banks be exposed and affected? Will they have to take losses?
  • Will those losses be spread around or will one or more bank be mainly affect?
  • Will this affect the sentiment of the banking sector and cause a panic?
  • If there are issues and it starts affecting the stock prices, what will be the impact on other industries?

Last Question

The last question revolves solely around the banks and the regulators? How secure are the other banks? We all hear about how banks are now put through "stress tests" but how much trust do you put in those results? How much trust do you have in the regulators?

I know this may make me sound like a conspiracy theorist to some but it's an honest question. The Fed is on public record saying they want to keep this economy strong as long as possible. If a bank did not perform strongly in a stress test or even barely failed one, do you think they would report it?

Can you imagine the pressure that body would come under to stay silent? Can you imagine the rhetoric they would face with questions like, "Are you really going to fail one bank? Do you know how many people will lose their jobs if you do that?" Am I saying this is happening? No, but can you really rule it out 100% as a possibility?

I urge you to ponder on these questions, do your own research and find YOUR answers.

Update: The most freaquently asked question I have received from this column / show is how much time do we have to prepare. This is an impossible question to answer, as it could fail tomorrow, next week or might be next year. However I want to provide you a potential date for your diary – July 24th. That is when Deutsche will release their next earnings report and if it comes in below expectations, it could cause a further drop in price casting more doubt over the future viability of the bank.

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Survey: Where do you stand on these conspiracy theories?

Thought Catalog / Unsplash

Have you seen this survey on the most-believed conspiracy theories in America?

It's no surprise the survey has been getting so much attention. The results are actually a pretty disturbing.

Infographic: Belief in Conspiracy Theories in the United States | Statista

I decided to put together a quick survey of my own, with slightly different wording.

Up-vote the ones you agree with and down-vote the ones you disagree with.

I believe Lee Harvey Oswald killed JFK alone. However, I would not be surprised to find out the government sealed evidence that others were involved.

If by "deep state" you mean long-time Washington power brokers who are used to calling the shots and now feel threatened by Donald Trump not listening to their advice or council — yes, I do believe that many people like that are working against him and his administration.

Whether alien bodies are in Area 51 or not, I do believe the government knows more about UFOs than they have told us.

I do not believe the U.S. government was involved in 9/11, but as we know, NSA advisor Sandy Berger was caught destroying documents from the national archives related to both Bush and Clinton. All U.S. administrations have been to close to the Saudis, and the Saudis were involved in 9/11 at some level.

I believe the climate is always changing — it's natural. I would be willing to accept that man MAY play a role in this. But I do not believe in the solutions currently being discussed, nor do I believe the intention of most political activists are pure.

Any talk of the Illuminati provides the true dangers to man's freedom — like very powerful NGOS and men like George Soros — a perfect cover.

The U.S. government has done some horrible experiments on people and land — I also suspect they will do more things in the future. But I do not believe in the systematic spraying of chemicals using chemtrails.

The moon landing was real, but I see a time coming when people will not be able to trust their eyes due to deep fakes.

What do you think?

Let me know in the comments section below.