Last Time We Were Here Recession Started

By David Stockman – Re-Bloged From Stockman’s Contra Corner

The US Treasury yield curve has collapsed to its flattest since Nov 2007… just before the US economy officially slumped into recession…

 “There can’t be a recession… the yield curve is not inverted…”

Perhaps US banks are starting to realize the inevitable also?

CONTINUE READING –>

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The ‘Unnatural Rate of Interest’

By Joseph T. Salerno – Re-Blogged From Stockman’s Contra Corner

A few days before the last FOMC meeting The Wall Street Journal  reported on the Fed’s hand-wringing over its inability to identify the “natural rate of interest” and explain its recent movements. According to the report, the Fed uses the “mysterious natural rate” to guide its decisions in setting the target for the fed funds rate. Modern macroeconomics defines the natural rate of interest as the (real) rate of interest that maintains the economy in a Keynesian state of bliss, with stable prices (or moderate inflation) and actual real GDP equal to “potential” or full-employment GDP.

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Sovereign Debt – What Could Go Wrong?

By GE Christenson – Re-Blogged From http://www.Gold-Eagle.com

It has been reported that about $10 Trillion of sovereign debt “yields” negative interest. Assume total global sovereign debt is about $60 Trillion.

Therefore, about one-sixth of all sovereign debt has negative interest rates. This brings to mind a few questions.

  1. Do negative interest rates sound absurd, even insane?
  2. Would bankers and central bankers in 2012 have believed that interest rates could be pushed so low they actually went negative?
  3. Does anyone see a problem with negative interest rates?

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Weekly Climate and Energy News Roundup #230

The Week That Was: June 25, 2016 – Brought to You by www.SEPP.org

By Ken Haapala, President, Science and Environmental Policy Project

BREXIT: On June 23rd, the British voted 52% to 48% to exit the European Union. No doubt many political commentators were very surprised. It’s too early to forecast how this exit will take place and what will occur. The financial markets reacted strongly in a negative fashion, but such reaction is typical when faced with a political shock. It appears that many in Britain are dismayed by economic and political controls administrated by an autocratic bureaucracy centered in other countries. Early reports showed that the industrial areas of the Midlands and Yorkshire heavily favored the exit. It would be interesting to see a competent analysis of what influence, if any, increasing electricity prices may have had on the vote.

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Why Did Agriculture Start 13,000 Years Ago?

WUWT reader Susan Corwin writes:

Because it would work as CO2 became plentiful!

All the academic articles say: “and then agriculture happened”.

The “accepted wisdom”/consensus is:

….here was no single factor, or combination of factors, that led people to take up farming in different parts of the world.

But It is simple: it occurred because it Started Working.. 13,000 years ago.

People are clever, resourceful, adaptive, looking out for the best for their kids.

If it doesn’t work, it won’t happen.
If it will work, someone will figure it out and their kids/tribe will be successful

The Greenland Ice Chart for 9000 to 21000 years before present shows why agriculture arose:
(as presented on WUWT by Andy May)
GreenlandIceCore

So, my conclusion is that over 4,000 years or 160 generations, things improved and they tried, and tried, and tried again until it worked: people are smart.
…and animals actually could be pastured.

Starting 14,000 yag, the sparse, scraggly growth started getting thicker and slightly more abundant.  It wasn’t very good, but is was much better than 16000 yag.
=> and clever people could keep various animals alive in a herding lifestyle.

CONTINUE READING –>

The Tangled Web of Global Warming Activism

By Dr. Tim Ball – Re-Blogged From http://www.WattsUpWithThat.com

Sir Walter Scott (1771-1832) wrote,

“Oh what a tangled web we weave, when first we practice to deceive!”

There were several actions required to create the tangled web of deception relating to the claim that human-produced CO2 caused global warming. It involved creating smaller deceptions to control the narrative that instead of creating well-woven cloth became the tangled web. The weavers needed control of the political, scientific, economic inputs, as well as the final message to the politicians to turn total attention on CO2.

Their problem was the overarching need for scientific justification, because science, if practiced properly, inherently precludes control. Properly, you go where the science takes you, by disproving the hypothesis. However, before the planners could get to the science, they had to establish the political framework.

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Thank You, America!

By Christopher Monckton of Brenchley – Re-Blogged From http://www.WattsUpWithThat.com

head for the brexit

For my final broadcast to the nation on the eve of Britain’s Independence Day, the BBC asked me to imagine myself as one of the courtiers to whom Her Majesty had recently asked the question, “In one minute, give three reasons for your opinion on whether my United Kingdom should remain in or leave the European Union.”

My three reasons for departure, in strict order of precedence, were Democracy, Democracy, and Democracy. For the so-called “European Parliament” is no Parliament. It is a mere duma. It lacks even the power to bring forward a bill, and the 28 faceless, unelected, omnipotent Kommissars – the official German name for the shadowy Commissioners who exercise the supreme lawmaking power that was once vested in our elected Parliament – have the power, under the Treaty of Maastricht, to meet behind closed doors to override in secret any decision of that “Parliament” at will, and even to issue “Commission Regulations” that bypass it altogether.

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