Actually, the United States Has Defaulted Before
The United States is pretty much in the middle of the pack. No matter what we spend on education it seems to be going in one ear and out the other, according to the study that was conducted by the Organization for Economic Cooperation and Development (OECD). While the world sends its best and brightest to enjoy the quality of a number of universities, these students seem to retain the information before returning to their countries of origin. Never mind that with a more progressive approach to immigration this could be avoided. But as long as a large portion of Americans remain afraid of Mexicans, Hondurans, and Guatemalans, dont expect that to change anytime soon. The study examines literacy, numeracy, and problem solving in technology-rich environments in 23 industrialized nations, and the results were just about what you would expect. Japan and Finland are powerhouse nations , coming in first and second respectively in all three areas. The U.S., however, scores below average on each of the three assessments and is near the bottom for math skills. I guess I was overly optimistic in hoping that middle of the road was what I would read as I went through the study. United States literacy rankings In literacy, the U.S. ranked 16th out of the 23 countries. A level-1 reader can get a single piece of information out of a simple text. A level-4 or 5 reader can pick multiple pieces of information out of lengthy or competing texts, and evaluate subtle arguments. Over 20 percent of people scored at level 4 or 5 in Finland and Japan.
Why Does United States Excel at Presidents Cups but Struggle at Ryder Cups?
This default was temporary. Treasury did pay these T-bills after a short delay. But it balked at paying additional interest to cover the period of delay. According to Zivney and Marcus, it required both legal arm twisting and new legislation before Treasury made all investors whole for that additional interest. The United States thus did default once. It was small. It was unintentional. But it was indeed a default. And the nation still stands. But that hardly means we should run the experiment again and at larger scale. Zivney and Marcus examined what happened to T-bill interest rates as a result of this small, temporary default. They find a surprisingly large effect. As best they can tell, T-bill interest rates increased about 60 basis points after the first default and remained elevated for at least several months thereafter. A simple way to see that is to look at daily changes in T-bill yields: T-bill rates spiked upwards four times in the months around the default. In November 1978, Henry Dr.
Andy Lyons/Getty Images Only eight of the 12 golfers play in each foursomes and four-ball Ryder Cup session, allowing the European captain to strategically sit multiple players who might be struggling or lack success in one particular format or another. Its much tougher, however, for the International captain to hide players in the Presidents Cup as all 12 golfers compete in the first two sessions and only two from each side sit in both the third and fourth. Not only does that format expose the Internationals’ lack of depth, it forces golfers to play more matches under intense pressure, which can take a toll as the competition wears on. Following the first two days at Muirfield, the United States led by only one point . Yet by the time the fourth session was complete early Sunday morning, the Internationals trailed by six and the competition was essentially over even before the singles began. If Nick Price could’ve sat Sterne and Grace, how different would #PresCup have been? They went 0-8. Overhaul needed. Robert Lusetich (@RobertLusetich) October 7, 2013 While no Ryder Cup format change is forthcoming, there is reason to be optimistic for the 2014 competition and beyond. An emerging crop of talented match play golfers such as Bradley, Jason Dufner, Bill Haas and Webb Simpson made a positive impact on this years U.S. team, and those golfers will likely be key members of Watsons 2014 squad. David Cannon/Getty Images Likewise, the growth and importance of the FedEx Cup is keeping the top American golfers playing later into the season, and the sharpness that can create has already begun to translate to better Ryder Cup performances to say nothing of the Presidents Cup. If not for the singles meltdown last year, the United States would be defending the Cup at Gleneagles next year instead of chasing it. Additionally, the Yanks played well at Celtic Manor three years ago, challenging late before falling short. Close and almost, however, doesn’tget it done in the Ryder Cup, and if the Americans are going to reverse recent results and reclaim superiority, their entire approach to the event needs to change.