Michael Ramirez: Bitcoin Falls 05-10-22

From America's Premier Editorial Cartoonist

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Bitcoin falls over 50% in value from its peak, and critics continue to question its intrinsic value  —Michael

Bitcoin Price Falls 54% From Its High —Jenna Telesca, Wall Street Journal

Bitcoin Falls Below $30,000 As Crypto Selloff Continues —Baystreet

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Selected opinions and news today:

Another Word about Midge Decter —Scott Johnson, Powerline

The Desperation of Biden's Disinformation Board —Ayaan Hirsi Ali, UnHerd

Global Warming Scare Is Most Certainly Overheated—Issues & Insights

Sri Lanka’s “Green” Catastrophe —John Hinderaker, Powerline

"They lied!" is a lie — JEFF JACOBY, JWR

Is The End Of Private Practice Nigh? —Sally C. Pipes, Forbes

Control, coerce & censor — WILFRED MCCLAY, DAILY MAIL

Sorry, Dems, You're Not Raising Our Kids —Ronna McDaniel, Newsweek

Justice Thomas and the Political Seduction of Roe v. Wade Jeffrey Lord, American Spectator

Letter to the Editor:

by Richard Illyes,

What if we just cut through the morass of programs and take all the money provided at the federal and state level and put it into individual student endowment accounts?

The late 1970s in the United States was a time of surprising deregulation.  It was the beginning of the end for the telephone monopolies.  Those inside the regulated industries, and the regulatory agencies, warned of doom and disaster if competition were allowed.  The doomsayers were wrong.  The free market provided solutions that were impossible to forecast.  Competition and the profit motive brought out the best that humans can create.  

Communications solutions today are employing far more people than the old phone monopolies, and are delivering services never dreamed of in that era.  The forecasts of disastrous unemployment and system collapse if the phone monopolies were opened to the competition were totally and completely wrong.

 K-12 is the phone monopoly of our time.

This seems like the best time in years to truly reform K-12.  However, the focus seems to be on charter schools, leaving behind thousands of students in poorly performing districts, and most proposed solutions leave out homeschooling.

The fundamental problem is the lack of competition.  There is a simple way to introduce it.

Instead of pouring money into the local school monopolies, the solution is to simply endow individual students.  Open the door to the free market in a meaningful way.

We should create an individual educational endowment fund for each K-12 student. Student endowment funds would pay annually to students who achieved minimum grade-level knowledge, including homeschooled students.  The determination of minimum achievement would be through testing, with the tests also from free-market providers.  

Providers for students who did poorly would not be paid, leaving twice the annual amount available next year to educators who could catch them up. Seriously underperforming students would accrue several years of catch-up funding, providing extra incentive for the type of personalized attention that would benefit them.  Military veteran servicemen and women teaching small groups of students, and developing personal relationships, can change lost kids into enthusiastic young adults.  

Opening educational services to the free market will allow for practical job-related instruction, and college-level courses, to be included as providers fight for market share.

Competition among educational providers will make full use of technology, will provide useful training for actual jobs, and will deliver far more education for the same money. Gamification will keep students involved in ways that existing K-12 material can't touch.

Instead of leaving dropouts to fend for themselves, the funds should remain on deposit indefinitely, allowing those who get their act together after some time in the adult world to get an education.

Modeling the idea will show that existing school structures and transportation fleets will be used, more than with charter schools.  Most school systems will continue as they are, but a new element of potential competition will focus their efforts.

A major early effect might be defunding of some inner-city school systems, with the carry-over of endowment funds providing an incentive to corporate providers.  These districts are a disgrace, but there is almost no way to change them now.  Defunding poor performance in a way that will bring new providers can work.

The new providers will be renting space and transportation for their offerings in most cases from existing school districts.  Just as with telecom deregulation, it will take several years to see the full impact, but requiring minimum accomplishment for payout will protect students and taxpayers as solutions evolve.

Homeschooling pods will explode, but those kids will still participate on local sports teams, and transportation to practice (and back) will also be rented from existing fleets by their parents.  

Special needs students would still have the extra funding at an individual student level.

Let's end the monopoly. Let’s open the door to competition.

Unleash technology, but pay only for results.

Homeschoolers would be an unstoppable force for reform if a realistic plan to pay them existed.  The endowment idea would do it.

I am Richard Illyes, a retired electronic designer and programmer in rural Texas south of Houston.  I am an active pilot and flight instructor and fly off my grass strip at my place outside Alvin, where I have a small herd of cows and a flock of chickens.  My life experience includes decades as a small business owner, father and grandfather, and Army tank crewman and tank commander.