Charter Schools 1, Teachers Unions 0

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Unleash Prosperity Hotline
Issue #792
06/13/2023
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1) Charter Schools 1, Teachers Unions 0
A new Stanford University study of 1.8 million students at 6,200 charter schools across the country concludes that students at charters – public schools that operate independently and without union contracts – clearly outperform traditional public schools in math and reading.

The Stanford study is the third assessment of charters. The first study was conducted in 2009 and found that a majority of charter school students performed either worse or no better than public schools. (This was likely due to a selection bias of families moving kids to charters because they were falling behind in public.) The second study in 2013 found improvement, but nothing dramatic.

But now charters have clearly found a winning education formula and outperformed public school students.

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The latest study found in the words of New York magazine “a large number of charter schools have developed scalable models that can allow Black and Latino students in cities with awful neighborhood schools to get the same education as white kids in suburbs enjoy.” By contrast, affirmative action has been a “far less effective way to compensate for the deeper problem that American schools produce scandalously few high-achieving Black and Latino graduates.”

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Another loud and clear message of the study is that teachers unions are the enemy of better education for kids. Most charters are liberated from union influences.

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2) FTC Sides With Japanese Company Over American Companies
Federal Trade Commission chair Lina Khan has gone off her rocker again. She’s following through with her absurd blockage of a $70 billion merger between two U.S. companies – Microsoft and Activision.

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The FTC applied for a temporary restraining order ([link removed]) because the agency claims Microsoft would have the power to “withhold or degrade” Activision’s gaming products, through price, game quality, and experience on competitors’ offerings.

Why would a company degrade its own products? Only a federal official like Kahn – who has never worked for or started a firm – would fail to grasp the idiocy of this concept.

The big winner from the FTC legal action is Sony – which controls more than sixty percent of the video gaming market. Who’s the monopoly here? Add Japan to the list of countries laughing behind our backs.

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3) ESG May Be Losing Its Mojo
Here's a cheerful chart of the day:

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It's great that they are talking about it less – but our mission at CTUP is to ensure they actually DO it less, too.

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4) A.P. News Just Figured Out "COVID Relief" Was the Biggest Financial Fraud in World History
We’ve been saying for two years that federal programs to deal with COVID were the modern-day gold rush of fraudsters and scammers – both here and abroad. We estimated the waste and fraud of close to half a trillion dollars. Now the AP has finally confirmed our estimates. The fraud rate of nearly 10% is about three to five TIMES higher than fraud from private sector insurance, credit card, and other comparable programs. The Biden Admin. has shown almost no interest in hunting down these thieves.

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The only group that is really doing ANYTHING about this is our friends at Open the Books, which has issued 55,000 Freedom of Information Act requests. Read their ad in this past weekend’s Wall Street Journal here.

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Next time both political parties rush to spend trillions of dollars as fast as possible, how about they don't?

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5) To Save the Planet Why Not Stop Forest Fires
Some eight million acres of land have burned to a crisp in Canada – that’s an area larger than the state of Vermont – and 400 fires are still expected to burn throughout the rest of the summer. We found a fascinating analysis of the impact of these forest fires on the climate, and we wish the alarmists and the politicians would pay attention and do something about it:

Louis Navellier’s Growth Investor, June 9, 2023

Wildfires Bring to Light CO2 Emission Reduction Challenges

* A ScienceAdvances study forecasts the annual forest fires in the Northern Hemisphere could release 12 gigatons of carbon dioxide per year into the atmosphere.

* The International Energy Agency (IEA) estimates that carbon dioxide emissions from energy and industrial production globally hit a record of 36.8 gigatons in 2022.

* According to the University of California, wildfire emissions in 2020 were twice as high as the state’s greenhouse gas reductions between 2003 and 2019. Wildfires were the second-biggest source of carbon dioxide emissions in California in 2020.

* Science revealed that nearly 1.8 billion tons of carbon dioxide were released due to forest fires in 2021. That’s nearly three times the projected reductions in 2030 based on the Inflation Reduction Act.

Hmm, putting this all together, we got to thinking: Rather than shutting down American energy, forcing people to buy electric vehicles, holding 35 international Climate Change Conferences, banning gas stoves and air conditioners, killing hundreds of thousands of cows, spending hundreds of billions of dollars on uneconomical wind and solar farms, imposing massive green taxes on the economy, and hitting the “great reset” on the world industrial economy (which would cause massive global poverty), why don’t the politicians just devise a way to manage forests better?

Nah, that would be way too logical. Better to stick with “Let it Burn.”
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6) Introducing the New Professional Golf League

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