Quotes by Edward Stack

“We were disappointed that we had not been able to find any survivors on the sunken ships, but after six days of sounding, we were sure no one was alive within them. While our diving crews were occupied sounding the ships and freeing the USS Tennessee, the shipyard constructed two diving barges, each one twenty feet wide and thirty feet long. Buoyancy was provided by three cylindrical pontoons. Wooden planks formed the deck, while corrugated sheet metal on the roof provided protection from the elements. A long pipe spanned the upright stanchions along the side of one barge, which provided an area to hang the divers’ rubberized canvas dresses. Along the opposite side were hangers for the four sets of lifelines and air hoses. A large workbench was situated in the middle of the barge. Installed at one end was a wooden diving ladder that led down to the water four feet below. Next to the ladder was a table that held the diving telephone equipment. Four dressing stools were neatly stacked near the table.””

“So much of the day was pointless repetitions, stacking things up and then knocking them down so you could pick them up again, driving back and forth over the same roads.””

“The cards dealt at blackjack also seem to appear at random but not if you “track the shuffle,” which is a way to beat the game by watching the order in which the discarded cards are stacked, then mathematically analyzing the particular shuffling technique being used, leading to a partial prediction of the new ordering of the cards for the next deal. The likelihood of any card being the one that is dealt next is not random if you count the cards. What appears random for one state of knowledge may not be if we are given more information. Future prices are not predictable and no one can beat the market, but only when market prices “truly” fluctuate randomly.””

“CFR’s Renewing America initiative”

“Over the last decade, other G7 countries have made more dramatic changes to their pension programs than the United States has to Social Security.33 Germany and Japan have put automatic stabilizers into their public pension systems so that the pension benefits rise or fall automatically with the country’s ability to afford them. Italy linked pension age eligibility to life expectancy, while France indexed part of its public pension system to price inflation. These changes amount to huge spending cuts by 2040 compared with previous law”

“Getting U.S. public debt on a sustainable path will require more sacrifice from the American public. Just to slow debt growth to the rate of GDP growth (or a steady debt-to-GDP ratio) from today through 2040, changes to current policy would have to be dramatic: cut entitlements by 10 percent or cut discretionary spending by 24 percent or increase tax revenue by 6 percent, or some combination of the three.27 Adjustments to actually lower the debt-to-GDP ratio would be even more painful. Ideally, the debt-reduction burden would be shared by all Americans. But one thing is certain”

“Less headway is being made in figuring out how to improve teacher quality, an undertaking more complex than simply recruiting new teachers with better academic credentials or offering higher salaries. In high-achieving countries, such as Finland, Singapore, and South Korea, teachers come from the top of their high school graduating classes, teaching schools have a high bar for acceptance, and teachers’ salaries are competitive with those of lawyers and scientists. It is generally the opposite in the United States.””

“Child-care tax credits for all families. Federal child-care tax credits are available to all families. The principal tax credit is the Child and Dependent Care Tax Credit. But credits can be claimed only if an individual owes taxes, and poor Americans generally do not. Only if a tax benefit is refundable”