Hillary Says Corporations and Businesses Don’t Create Jobs

By Gary DeMar – Re-Blogged From Constitution.com

If you want a growing economy that does not depend on the State, do not vote for Hillary Clinton. She doesn’t know anything about creating jobs. She said the following in 2014:

“Don’t let anybody tell you it’s corporations and businesses create jobs. You know that old theory, ‘trickle-down economics.’ That has been tried; that has failed. It has failed rather spectacularly.”

Hillary believes that by taxing corporations at ever higher rates, more jobs will be created. She believes that when the government takes money from corporations in the form of taxes and redistributes that stolen money to people who did not earn it, jobs are created. Does this mean if I steal money from some of my neighbors and redistribute a percentage of that money to some of my other neighbors I would be creating jobs?

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The Night That Is Upon Us And The Dawn Of A New Era

By Hugo Salinas Price – Re-Blogged From http://www.Gold-Eagle.com

A speech by Hugo Salinas Price at the inaugural ceremony of the Fourth Convention of the Association of Mining Engineers, held in the city of Durango, State of Durango, Mexico, on August 25, 2016.

At what point in History does humanity find itself? Where are we? In the course of the past centuries, the study of the physical sciences, born in the 16th Century when the Englishman Francis Bacon established the “Scientific Method”, has had such enormous success and has so greatly influenced humanity, that Science has become a materialist world-religion.

The central problem of our times is that official economists attempt to apply the “Scientific Method” when designing economic policies for governments, and this method is not applicable to human activity. The “Scientific Method” cannot be applied to social concerns, because physical matter and human beings behave in totally different ways. Matter cannot choose, and human beings do choose their behavior. So, while action applied to matter produces predictable results, action applied to human beings must consider the fact that human being do choose, they do have options, and thus their behavior cannot be predicted successfully, cannot be quantified nor expressed correctly in equations. The world’s economists ignore this fundamental fact, and so they formulate economic plans for the State that always turn out as counter-productive, because their plans produce results that are always quite the opposite of what they expected.

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Inconvenient Study: Biofuels Not as ‘Green’ as Many Think – May be Worse than Gasoline

By Anthony Watts – Re-Blogged From http://www.WattsUpWithThat.com

From the “road to hell is paved with good intentions” department:

Biofuels not as ‘green’ as many think

Go back to basics when calculating the greenhouse impact and carbon neutrality of biofuels, researchers urge

Statements about biofuels being carbon neutral should be taken with a grain of salt. This is according to researchers at the University of Michigan Energy Institute after completing a retrospective, national-scale evaluation of the environmental effect of substituting petroleum fuels with biofuels in the US. America’s biofuel use to date has in fact led to a net increase in carbon dioxide emissions, says lead author John DeCicco in Springer’s journal Climatic Change.

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Jackson Hole Saturday, When the Real Hyperinflationary Fireworks Occurred

By Andrew Hoffman – Re-Blogged From http://www.milesfranklin.com/

Pardon me if this article starts out a bit disjointed, as I accidentally erased the notes I took last night, amidst the 155th “Sunday Night Sentiment” attack of the past 161 weekends.  And afterwards, the 689th “2:15 AM” raid of the past 793 trading days, which I was able to document in real-time because someone called me at 3:00 AM, acting surprised that I wasn’t on “European time.”  I mean, do I have a French, German, or British accent?

Thankfully, the amount of notes was minimal, as amidst the “summer doldrums,” trading volumes are exceptionally low – with “volatility” at 20-year lows, care of the most maniacal, relentless market manipulation in global history.  Which, of course, is occurring because the global political, economic, and monetary situation has never been uglier.  Not to mention, the powers that be MUST maintain the status quo to enable a Hillary Clinton victory – as if Trump wins, their ability to staunch the bleeding, and control the future, will be dramatically weakened.  For what it’s worth, I strongly believe Trump will win – as like the “surprise” Brexit result, I believe Americans’ actual political leaning is far different than the propagandized “strong Clinton lead.”  Frankly, it strains credibility that anyone would believe this to be true, given the historically horrible economy, the e-mail server scandal, and all out criminality of the Clinton Foundation.

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Welcome To The Third World, Part 18: Pensions Overwhelm Public Services

By John Rubino – Re-Blogged From Dollar Collapse

Citizens of the developed world are watching Venezuela’s descent into financial and political chaos mostly, it seems, with amused detachment, safe in the assumption that we’ll never end up hunting our cats and dogs for food.

But – since Europe, Japan and the US are making essentially the same mistakes as Venezuela’s past and present governments – we might want to question that certainty. Consider what’s happening in the third biggest US city:

Chicago’s detective force dwindles as murder rate soars

(Reuters) – Every two weeks, Cynthia Lewis contacts the detectives investigating the homicide of her brother on Chicago’s south side almost a year ago.

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Jim Rickards Interview

By Tekoa de Silva – Re-Blogged From http://www.Gold-Eagle.com

Following a recent keynote presentation at the Sprott Natural Resource Symposium, James G. Rickards, best-selling author and advisor to the US Department of Defense and Intelligence Communities, was kind enough to share a few comments with the Sprott’s Thoughts publication.

It was a fascinating conversation, as Jim noted the world’s monetary structures resemble, “Two tectonic plates; there’s the natural tectonic plate—deflation—and then…the policy plate of inflation—which is money printing, currency wars, QE, operation twist, negative interest rates, and zero interest rates…”

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Unraveling The Secular Stagnation Story

By Steven H Hanke – Re-Blogged From http://www.Silver-Phoenix500.com

Secular stagnation is said to be present when economic growth is negligible or nonexistent over a considerable span of time. Today, secular stagnation has become a popular mantra of the chattering classes, particularly in the United States. The idea is not new, however.

Alvin Hansen, an early and prominent Keynesian economist at Harvard University, popularized the notion of secular stagnation in the 1930s. In his presidential address to the American Economic Association in 1938, he asserted that the U.S. was a mature economy that was stuck in a rut. Hansen reasoned that technological innovations had come to an end; that the great American frontier (read: natural resources) was closed; and that population growth was stagnating. So, according to Hansen, investment opportunities would be scarce, and there would be nothing ahead except secular economic stagnation. The only way out was more government spending. It would be used to boost investment via public works projects. For Hansen and the Keynesians of that era, stagnation was a symptom of market failure, and the antidote was government largesse.

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Weekly Climate and Energy News Roundup #237

The Week That Was: August 20, 2016 – Brought to You by www.SEPP.org

By Ken Haapala, President, Science and Environmental Policy Project

Seeking a Common Ground: One of the challenges in preparing TWTW is reaching as broad a readership as possible with brief discussions of scientific issues. The readers have various scientific backgrounds. TWTW is translated into several European languages and is read in academic or research institutions in Russia and China. For these reasons, the writing tends to be terse, with little or no technical language or jargon. Of course, people object to some statements in TWTW, and significant objections are generally addressed in subsequent issues.

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Exploitation of Environment and Climate for Political Agenda Reverses Education and Research Processes

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

While preparing a list of witnesses for my upcoming trial in February 2017, I was reminded of a pattern that contradicts the natural order of education and research. The issue was triggered by a comment by Mark Steyn.

~Climate mullah Michael E Mann’s lawsuit against me has been stalled in the clogged latrine of DC justice for four years – indeed, it’s stalled so long that a key witness has died. So this month I filed a “Renewed Request for Expedited Hearing and to Lift Stay of Discovery” to get the buggers moving again.

The natural and necessary order is that students are urged to question. They should follow the advice of Hindu Prince Gautama Siddharta.

Do not believe in anything simply because you have heard it.

Do not believe in anything simply because it is spoken and rumored by many.

Do not believe in anything simply because it is found written in your religious books.

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Climate Philosopher Demands a Tax on Children

By Eric Worrall – Re-Blogged From http://www.WattsUpWithThat.com

h/t JoNova, Marc Morano – Climate philosopher Travis Rieder has been touring the country, trying to persuade university students not to have kids – and promoting ideas for restricting childbirth, including tax penalties against people who decide to have a child.

Should We Be Having Kids In The Age Of Climate Change?

Standing before several dozen students in a college classroom, Travis Rieder tries to convince them not to have children. Or at least not too many.

He’s at James Madison University in southwest Virginia to talk about a “small-family ethic” — to question the assumptions of a society that sees having children as good, throws parties for expecting parents, and in which parents then pressure their kids to “give them grandchildren.”

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Germans Warned To “Stockpile Cash In Case Of ‘War”

By Mark O’Byrne – Re-Blogged From http://www.Gold-Eagle.com

The German government is warning its people to ‘stockpile’ food, water and cash in case of ‘war’.

For the first time since the end of the Cold War, the German government is set to tell citizens to stockpile food, water, medicine, fuel and cash in case of war, an attack, catastrophe or “national emergency”, the Frankfurter Allgemeine Sonntagszeitung newspaper reported on Sunday.

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Proof The Economic Recovery Has Ended

By Michael Pento – Re-Blogged From http://www.pentoport.com

The primary data point that the perennial bulls on Wall Street claim as evidence for an improving economy is the monthly jobs number. The Non-farm Payroll Report claimed that 255,000 jobs were added in July on a seasonally adjusted bases. This number was well above the 12-month average of 190,000. And according to the Bureau of Labor Statistics (BLS), at total of 1.66 million additional people have been employed thus far in fiscal 2016, making this the one bright spot in the economy.

And with 1.66 million additional paychecks flooding the economy, one would assume the U.S. Treasury was flush with new tax receipts, which would assist in reducing the budget deficit. However, according to the Treasury Department, the deficit came in at $112.8 billion in July, the highest since February’s $192.6 billion. For the first ten months of the fiscal year, which ends Oct. 1, the budget deficit was $513.7 billion, up from $465.5 billion a year earlier.

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The Inflation Imperative

By Gary E Christenson – Re-Blogged From Deviant Investor

The western welfare states (US, UK, EU etc.) have borrowed more digital currency than can be repaid at current values. The choices are:

Massive inflation: a bad choice

Default: an even worse choice

From Jim Rickards (Strategic Intelligence – Sept. 2016 issue):

“Given the non-sustainability of sovereign debt under current monetary regimes and the necessity for global inflation, there are three possible endgame scenarios facing us now.”

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Ireland’s Biggest Bank Charging Depositors Negative Interest Rate Madness

By Mark O’Byrne – Re-Blogged From http://www.Gold-Eagle.com

Deposits at Bank of Ireland are soon to face charges in the form of negative interest rates after it emerged on Friday that the bank is set to become the first Irish bank to charge customers for placing their cash on deposit with the bank.

This radical move was expected as the European Central Bank began charging large corporates and financial institutions 0.4% in March for depositing cash with them overnight.

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Three Big Stories NOT Being Covered Part 3

By Andy Sutton & Graham Mehl – Re-Blogged From http://www.Gold-Eagle.com

The third and final (for now) portion of this series might be a tad anticlimactic. If so, we apologize. Most people know America is in debt beyond comprehension. A small subset of people understand that the numbers published by the government are missing a whole bunch of important items and use accounting methods that would land most business people in prison. An even smaller subset understands the idea of generational accounting.

What we are going to discuss this time around is not the long-term situation, but rather the medium to short-term situation because some really bad things are going to take place within the next 5-7 years absent major, MAJOR policy changes. At that point, the policy changes will have to be drastic since our government fiddled while Rome burned for the last 3 decades.

If you take nothing else away from this article, understand that our ‘leaders’ – of all political affiliations and stripes – KNEW this was going to be the result if they did nothing, yet that’s precisely what they did. The blame game this time around ought to be one for the ages, however a well-informed populace can short-circuit the traditional mudslinging by inserting the following statement: “You all knew. You knew and you did nothing. You are guilty of dereliction of duty. You failed your constituents and your country. ALL of you.”

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Hyperinflation Is Nigh

By Egon von Greyerz – Re-Blogged From http://www.Gold-Eagle.com

This coming autumn we are likely to see the beginning of the hyperinflationary phase of the sovereign debt crisis. Hyperinflation normally hits an economy very quickly and unexpectedly…and is the result of the currency collapsing. Hyperinflation does not arise as a result of increasing demand for goods and services.

The course of events in a hyperinflationary scenario can be summarised as follows:

  • Chronic government deficits
  • Debt issuance and money printing escalating rapidly
  • Bonds falling – interest rates rising fast
  • Currency collapsing

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Gold Miners’ Q2’16 Fundamentals

By Adam Hamilton – Re-Blogged From http://www.Gold-Eagle.com

The gold miners’ stocks have skyrocketed this year as investors started returning to this long-abandoned sector. Many have tripled, quadrupled, or even quintupled since mid-January alone! But are such epic gains fundamentally justified? Much insight into this crucial question for investors can be gleaned from the gold miners’ latest quarterly financial and operational results. Their Q2 reports just finished coming in.

Companies trading on the US stock markets are required by the Securities and Exchange Commission to file quarterly earnings reports four times a year. For normal quarters that don’t end fiscal years, these 10-Q reports are due 45 calendar days after quarter-ends. They are a great boon to financial-market transparency and investors seeking to understand companies, yielding a treasure trove of information.

The gold miners are no exception, so about 6 weeks after quarter-ends I eagerly look forward to digging into their latest quarterly reports to see how they’re faring. And the just-reported second quarter of 2016 proved an exceedingly-strong one for gold stocks. Their benchmark HUI NYSE Arca Gold BUGS Index soared 38.4% higher in Q2 on a mere 7.4% gold rally! Gold stocks’ 5.2x upside leverage to gold was extreme.

The gold stocks began 2016 at fundamentally-absurd price levels relative to gold, the overwhelmingly-dominant driver of their profits and hence ultimately stock prices. Coming out of mid-January’s crazy 13.5-year secular low, the gold stocks were certainly overdue to soar in a massive mean-reversion rally. But with the HUI skyrocketing 182.2% at best in just 6.5 months by early August, the gains have been huge!

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$15.00 Minimum Wage Would Put 7-9 Million People Out Of Work

By Jeff Dunetz – Re-Blogged From The Lid

A Heritage Foundation study examined what would happen to the workforce if Hillary Clinton and her progressive friends were able to enact the nation-wide  $15.00 minimum wage idea she stole from Bernie Sanders. And it ain’t pretty.

Heritage’s approach was different rather than look at it on a national basis, they examined what would change on a state by state basis. When the the state results are aggregated we learn that the progressive’s $15.00 minimum would put between 7 and 9,000,000 Americans out of work.

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On Being A FOMC Member

By Alasdai Macleod – Re-Bogged From http://www.Silver-Phoenix500.com

It’s easy to criticise the Fed for its failures, because its successes have been only one in number: kicking the can down the road. But we should spare a thought for the difficulties policy-makers now face. So what would you do if you were on the Federal Open Markets Committee?

Repeatedly kicking that can has so far succeeded. However, economic conditions are changing all the time, throwing up new challenges. The next chart dramatically exposes the one issue that historically would have determined interest rate policy in advance, but is being widely ignored, even by the FOMC.

Simply subtracting M2 money from M1 money gives a running indication of bank lending. And as the chart shows, it has been growing above trend since mid-January, followed by a sudden spurt timed from early July. This requires, on the face of it, an immediate normalisation of interest rates to bring the expansion of bank credit back towards its established trend.

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The Ugliest Economic Data I’ve Ever Seen (Part 2)

By Andrew Hoffman – Re-Blogged From http://www.Gold-Eagle.com

It’s Thursday morning – and there are nearly a dozen “PM bullish, everything-else-bearish” headlines worthy of distinct articles.  Such as…

1. This shocking, and hilarious, segment of the John Oliver show, depicting how subprime auto lending has officially reached the destructive lunacy of the 2007-08 subprime mortgage market. Not to mention, subprime student lending, as a whopping 37% of the $1+ trillion, government-underwritten student loan “market” is now delinquent.

2. Obamacare is literally on the brink of collapse, with insurers losing $2 billion in 2015 alone, and pulling out of the program en masse

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Venezuela Chaos: The Biggest Threat to Cheap Oil

Venezuela’s deepening chaos could soon create tremors in the global oil markets.

Already in an economic and humanitarian crisis, Venezuela’s oil production — the country’s sole lifeline for revenue — has hit a 13-year low.

As the situation worsens, Venezuela’s oil output could plunge even lower. A new report by Columbia University’s Center on Global Energy Policy calls Venezuela a “growing supply risk for oil markets in 2017.”

Oil prices are currently around $45 a barrel, a dramatic drop from about $110 two years ago. The main reason for the low prices is that there’s too much supply globally. However, the line between oversupply and a shortage in the oil market is thin, and Venezuela could tip the scale in the opposite direction.

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Without Global Warming, Civilization Never Would Have Been Possible

By Rod Martin, Jr. – Re-Blogged From http://www.WattsUpWithThat.com

Global Warming Made Civilization Possible

Let’s face it. Ice Age glacial conditions were brutal. Because the oceans were cooler, there was less evaporation and less rain. Because of this, there were more and larger deserts. The temperate zone was virtually threatened with extinction—squeezed between huge deserts and monstrous glaciation.

Because polar cold was far closer to equatorial heat, violent storms were stronger and more numerous. Heat alone does not cause wind to blow. That requires thermal potential—a temperature gradient between extremes. Venus has plenty of heat, but zero wind. On our sister planet, million-year-old craters show zero wind erosion, because the surface temperature is the same everywhere.

We shouldn’t have to argue whether or not warming is happening; we should educate ourselves on the vast benefits of warming and figure out how we can have more of it. Otherwise—change being the one true constant—we will end up with more cold.

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Weathering The Winter

By Chris Vermeulen – Re-Blogged From http://www.Silver-Phoenix500.com

Nature functions in cycles: Each 24-hour period can be divided into smaller cycles of morning, afternoon, evening and night. The whole year can be divided into seasonal cycles. Similarly, one’s life can also be divided into cycles. Cycles are abundant in nature, we just have to spot them, understand them and be prepared for them because they happen whether we like it or not. Likewise, economic experts have noticed that the world also follows different cycles. An important pioneer in this field was the Russian social economist, Nikolai Kondratiev, also called Nikolai Kondratieff, a relatively unknown genius.

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Why This Could Be the End of Europe as We Know It

By Justin Spittler – Re-Blogged From Casey Research

The world’s biggest economy is unraveling.

Regular readers know we’re talking about the European Union (EU). The EU is an economic union made up of 28 countries. It was put together after World War II to keep European countries from going to war with one another.

Over time, it turned into the world’s biggest economic experiment. And, right now, that experiment is going awry.

As you probably heard, the United Kingdom voted to leave the EU a month ago. The “Brexit,” as folks are calling it, shook financial markets from London to New York City. It knocked more than $3 trillion from the global stock market in two days.

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Britain Heading for Mini ICE AGE Next Year

By Joshua Nevett – Re-Blogged From Daily Star

A “TRIPLE whammy” of freak climate events causing temperatures to plummet will hit the country in 2017, it has been sensationally claimed.

Climate boffins believe the UK’s topsy-turvy climate is in for a chilly twist within the next few years as three major forms of climate change trigger “substantial cooling”.

lan-nina-forecast

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Why Social Security Will Be Bankrupt In 10 Years

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

Social Security—–Trust Fund Confetti And The Coming Insolvency

……Here follows a deconstruction of Rosy Scenario. It underscores why the nation’s entitlement based consumption spending will hit the shoals in the decade ahead.

In their most recent report, the so-called “trustees” of the social security system said that the trust fund’s near-term outlook had improved. So the stenographers of the financial press dutifully reported that the day of reckoning when the trust funds run dry has been put off another year—-until 2034.

The message was essentially take a breath and kick the can. That’s five Presidential elections away!

Except that is not what the report really says. On a cash basis, the OASDI (retirement and disability) funds spent $859 billion during 2014 but took in only $786 billion in tax revenues, thereby generating $73 billion in red ink.

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The Preservation of Perks, Privileges, and Power: The PPPP

By Gary Christenson – Re-Blogged From Deviant Investor

The picture is clear: The Powers-That-Be in Wall Street and Washington, the “Deep State,” military contractors, Big Pharma, Big Ag, The Federal Reserve, Mainstream Media, the DNC and RNC and others want to maintain the transfer game…because the following will continue:

  1. The transfer of wealth to the political and financial elite
  2. Payoffs to the President, Congress, and lobbyists
  3. Military adventures – very costly adventures – must be maintained to feed the massive military-industrial-security complex
  4. Ever increasing debt
  5. Power and influence over institutions and other countries

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Sacrificed To The Inflation Gods

By Michael Pento – Re-Blogged From http://www.Gold-Eagle.com

Our Federal Reserve is composed of labor market economists who place their faith in the theory that inflation is spawned from too many people working. They believe there is a trade-off between employment and prices, where price stability and full employment cannot exist peacefully together the same time.

Given this view, the Fed’s maximum employment and stable inflation mandates are played as a zero-sum game–the lower the unemployment rate the higher the rate of inflation. Therefore, they set about to fulfill this task of low inflation as though it were a sort of Ancient Mayan sacrificial system: ceremonially counting how many job seekers need to be sacrificed on the altar of labor slack to placate the inflation gods.

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Will Ireland Be First Country In World To See Bail-in Regime?

By Mark O’Byrne – Re-Blogged From http://www.Silver-Phoenix500.com

Deposit bail-in risks are slowly being realised in Ireland, after it emerged overnight that FBD, one of Ireland’s largest insurance companies, have been moving cash out of Irish bank deposits and into bonds.

Revelations regarding deposit bail-in risks came in the wake of warnings of a new property crash centered on the housing market in Ireland. The former deputy governor of the Central Bank warned in an op-ed in a leading international financial publication, Project Syndicate, that Ireland is at risk of another housing market crash.

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Weekly Climate and Energy News Roundup #236

The Week That Was: August 14, 2016 – Brought to You by www.SEPP.org

By Ken Haapala, President, Science and Environmental Policy Project

Climate Fears and Finance: [One] of the difficulties SEPP has had in updating its analysis of the importance of government funding in climate science is the lack of recent reports from the Government Accountability Office (GAO), Congressional Research Service (CRS), or the White House covering the extent of US government financing of climate science. Roughly, the detailed reports stopped in Fiscal Year (FY) 2014 (September 30, 2014). Thus, SEPP continued estimates of expenditures of climate science, alone, based on the budgets of the US Global Change Research Program (USGCRP), alone.

TWTW reader Timothy Wise supplied a link to a GAO report that covers FY 2014, and has key information, not financial, on 2015. The report states:

“Federal funding for climate change research, technology, international assistance, and adaptation has increased from $2.4 billion in 1993 to $11.6 billion in 2014, with an additional $26.1 billion for climate change programs and activities provided by the American Recovery and Reinvestment Act in 2009. As shown in figure 1, the Office of Management and Budget (OMB) has reported federal climate change funding in three main categories since 1993:

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Central Banks Are Choking Productivity

By Peter Schiff – Re-Blogged From Euro Pacific Capital

If the Economy were a car, productivity would be the engine. Heated seats, on-demand 4-wheel drive and light-sensitive tinted windshields, are all very nice. But they mean little if the engine doesn’t turn and the car just sits in the driveway. The latest productivity data from the Commerce Department confirms that our economic engine is sputtering.

If you strip away all the bells and whistles of economic analysis, the simple truth is that the increased living standards that have taken us from the stone age to the digital age happened because we increased our productivity. Better plows, windmills, bulldozers, factories and, more recently, better software, technology and automation, have allowed economies to produce more output with less human effort. This means there are more goods and services for more people to share and workers can work less to acquire those goodies. When productivity stops increasing, no amount of financial gimmickry can compensate.

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The Moral Case for Fossil Fuels

By Andy May – Re-Blogged From http://www.WattsUpWithThat.com

The best-selling book The Moral Case for Fossil Fuels was first published November 27, 2014 by Penguin. The author, Alex Epstein, took a BA in Philosophy from Duke University in 2002. He is the President of the Center for Industrial Progress, a former fellow of the Ayn Rand Institute and an adjunct scholar at the Cato Institute. He was also named as one of the top 10 in Rolling Stone’s 2013 “Global Warming Denier Elite.” High praise indeed! He was fourth on the list.

Epstein presents a very well written discussion of the climate change debate. He destroys the 97% consensus myth, explains that the carbon dioxide greenhouse effect decreases logarithmically with concentration and shows that the climate computer models used to compute man’s influence on climate have never successfully predicted anything. He also shows that global warming has not increased extreme weather of any kind and that the dangers from extreme weather are less today than at any time in man’s history largely due to fossil fuels. He discusses Craig Idso’s pioneering research proving that increasing carbon dioxide acts as a powerful fertilizer for many plants. But readers of this review know these facts, so we will focus on his discussion of the merits of fossil fuels. He is a good writer and has superhuman skills at laying out a compelling logical argument. He would have put Daniel Webster and Clarence Darrow to shame. I highly recommend the book.

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Solar Physicist Sees Global Cooling Ahead

Via the GWPF – Re-Blogged From http://www.WattsUpWithThat.com

Recent research by Professor Valentina Zharkova (Northumbria University) and colleagues has shed new light on the inner workings of the Sun. If correct, this new discovery means that future solar cycles and variations in the Sun’s activity can be predicted more accurately.

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On Say’s Law

By Alasdair Macleod – Re-Blogged From http://www.Gold-Eagle.com

One of my regular readers has raised the important subject of Say’s Law, the denial of which both Keynesian and modern monetarists are emphatic. They need this fundamental axiom to be untrue to justify state stimulation of aggregate demand. Either Say’s Law is right and state intervention is economically disruptive, or if it’s wrong modern economists are right to ignore it and progress their science beyond it.

The basis of post-Keynesian economic stimulation assumes a breakdown between consumption and production can occur, and the correct response is for government to step in and revive failing demand. It is the favored explanation of the 1930s slump. Obviously, Say’s Law would have to be discarded.

This article revisits this subject, explains where Keynes went wrong, redefines the Law to include money as a good, and explains why supply-side is less destructive than demand management. Say’s Law is crucial to understanding why increasing state intervention to revive economic demand cannot work, and has led us into the current crisis.

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Weekly Climate and Energy News Roundup #235

The Week That Was: August 6, 2016 – Brought to You by www.SEPP.org
By Ken Haapala, President, Science and Environmental Policy Project

Atmospheric Temperatures: Something unexpected happened in July. The rapid decline in atmospheric temperatures observed for the past few months stopped; in fact, they slightly increased. What will happen for the remainder of the year and in 2017 is yet to be seen. Will a La Niña develop, resulting in a further decline, as in 1998 following a strong El Niño, or will the temperatures remain roughly stable, at a higher level than before the 2015 El Niño? We don’t know, nor is there an established basis for such predictions. In spite of the US government spending over $40 billion since 1993 on what it calls climate science, precious little has gone into understanding the natural causes of climate change, one of which is the El Niño Southern Oscillation (ENSO), which describes El Niño/La Niña events.

Based on research in China, and elsewhere, ENSO events may have been occurring for thousands of years, prior to human use of fossil fuels. Additional research indicates that variations in monsoons, which may be influenced by ENSO events have been occurring for hundreds of thousands of years, long before humanity existed.

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US Treasury Yields Go Negative Everywhere But Here

By John Rubino – Re-Blogged From Dollar Collapse

Negative interest rates are an existential threat for insurance companies, pension funds and other financial entities that need positive investment returns to survive.

As rates on government bonds have gone negative in Europe and Japan, the above companies have been big buyers of US Treasury bonds, which still (for some reason) continue to offer positive yields.

But according to a Bloomberg analysis published today, Treasuries’ positive yield has recently evaporated when the cost of hedging currency fluctuations is included. Here’s an excerpt:

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Fill the US Strategic Petroleum Reserve

cropped-bob-shapiro.jpg   By Bob Shapiro

The US created a Strategic Petroleum Reserve in 1975, after the arab oil embargo (and a stupid US rationing scheme) caused supply disruptions. Today, this reserve holds a little over 1 month’s worth of oil.

Assuming that there is a real need for this Reserve, I would hope that it would be run using some basic economic and market principles. Right up at the top of the list of Market Principles is the Commandment: “But Low, and Sell High.”

The Price of Oil today is on the low side over the last 40 years, on an inflation adjusted basis. Back in ’73-’74, the Price of Oil went from under $10 a barrel to the mid-$30s. While the nominal Price today is in the low $40s, adjusted for the CPI, oil is under $8 a barrel in 1975 Dollars. (The CPI is a low-ball number, so maybe $5 is closer.)

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Why The US Benefits From Global Financial Crisis

By Cliff Droke – Re-Blogged From http://www.Gold-Eagle.com

Let’s turn our attention to the global economy. Last week the Bank of England said it would buy 60 billion pounds of government debt in order to cushion the economy against the impact of the recent Brexit vote.  England and the European Union are emulating the quantitative easing (QE) policies of the US Federal Reserve but so far without any measurable success.

Meanwhile the Bank of Japan (BoJ) has begun a massive stimulus program which may already be having an effect on Japan’s bond yields.  There has also been talk of Japan initiating a “helicopter money” scheme whereby the BoJ would directly finance fiscal spending.

Loose money policies in England, China and Japan are indeed all the talk right now among investors. The attempts by the ECB, BoJ and People’s Bank at stimulating their way out of deflation have yet to show appreciable results, but this won’t stop them from trying.

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Climate Change Agenda and the Role of Bureaucratic Scientists

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

I began this article before the resignation of NCEI director Tom Karl was announced. His replacement will, like James Hansen’s replacement at NASA GISS, Gavin Schmidt, continue the climate adjustment program. They perpetuate themselves and their agenda; it is the nature of bureaucracies. Laurence J. Peter, author, and creator of the Peter principle expressed it well when he wrote,

Bureaucracy defends the status quo long past the time the quo has lost its status.

Karl’s resignation makes this article more germane to the wider problem of bureaucracy in general and specifically bureaucratic scientists.

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Statistical Shenanigans at BLS

cropped-bob-shapiro.jpg   By Bob Shapiro

Non-farm private payrolls for July came in with a surprise 43,000 larger increase than expected. Including new government jobs, the number reported was 75,000 larger than expected.

But, can we really believe the numbers?

This is a Presidential election year, and it turns out that the numbers influence the election results. Good numbers – and a rising stock market – presage a continuation of the party in power, while bad numbers – and a falling market – seem to forecast a turnover to the opposite party.

There seems to be enough motive to fudge the numbers. But, how do you fudge the non-farm payrolls number? People either are working or they’re not working.

One way is through the so-called Birth-Death Model. As the bean counters collect their data, they don’t actually count every single person and business in the country. Instead, they survey a sample – in statistics, a survey of a thousand can come surprisingly close to the results you would get if you counted the whole population.

From the results they get using just the sample, they project what the whole economy is. But the US Economy changes constantly. People leave jobs, and others get jobs. Businesses go out of business, while others start up.

To account for the changing landscape of US businesses, the Bureau of Labor Statistics (BLS) uses its Birth Death Model – they pick a number out of thin air, hoping the number is close – or at least believable. Here are the numbers for the last year or so:

Birth Death 080816

Since April 2015, only three times has the BLS said the Birth-Death Model called for a reduction of the official number, for a total of 280,000 jobs. Against that, there were 13 months of upward adjustments (guesses) for a total of 1,839,000 extra jobs, over and above what their actual survey results said there should be.

If we remove the Birth-Death adjustment for July, instead of beating the estimate by 75,000, it would have fallen short by 37,000. In my book, the numbers are bogus – politically motivated.

After all the hard work of collecting the actual data that the rank and file BLS (and other agency) employees do, their bosses make them look like criminals because of all the phonying up that the bosses do.

It likely will not happen ever, but I can dream that someday a new President will have the good sense to investigate and prosecute the perpetrators of fraud at the BLS.

Gold Stocks’ Autumn Rally

By Adam Hamilton – Re-Blogged From http://www.Gold-Eagle.com

The gold miners’ stocks have already enjoyed a phenomenal year, blasting higher with gold’s new bull market.  This sector’s market-dominating performance has been amazing.  Yet incredibly, the gold stocks are only now entering their strongest time of the year seasonally.  Historically during bull-market years the gold stocks have enjoyed massive autumn rallies on average, starting right about now which is very bullish.

Gold-stock performance is highly seasonal, which certainly sounds odd.  The gold miners produce and sell their metal at relatively-constant rates year-round, so the temporal journey through calendar months should be irrelevant.  Based on these miners’ revenues, there’s no reason investors should favor them more at certain times of the year than others.  Yet history proves that’s exactly what happens in this sector.

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Saving The Monetary System

By Alasdair Macleod – Re-Blogged From http://www.Silver-Phoenix500.com

We are told Monetary Policy is all about staving off recession and stimulating economic growth. However, not only is monetary debasement in any form counterproductive and destroys the personal wealth of the masses, but the economists who devised today’s monetarism have completely lost their way.

This article addresses the confusion surrounding this subject, and concludes the real reason for today’s global monetary policies is an ultimately futile attempt to prevent a systemic and economic crisis.

Wrong Tools For Wrong Targets

Central banks set themselves targets, such as unemployment that is deemed to be “full” – i.e. the optimal low rate that will not lead to a pick-up in price inflation. CPI is the second target, typically set at 2% per annum. The hope is that these targets will lead to sustainable growth in GDP.

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Bank Of England Restarts The Clock On The Fed’s Inevitable QE Relaunch

By Andrew Hoffman – Re-Bllogged From http://www.Gold-Eagle.com

There’s much to discuss, starting with the “powers that be” utter desperation – particularly, the gold Cartel – to stave off “Economic Mother Nature” and the “unstoppable tsunami of reality” as the end game plays out right of its eyes.  For example, just two days after the Monte Paschi “bailout” – that in actuality, won’t occur until year-end, if it can raise €5 billion of equity, and sell €9 billion of bad loans – European stocks are dramatically lower; including Unicredit, Italy’s largest bank, which has plunged nearly 20%; and Deutsche Bank, the “world’s most systematically dangerous institution” – which touched its all-time low stock price yesterday morning, before the PPT pushed it oh so slightly higher (and as I write, it’s plunging towards said “death level” of $12.50/share anew).  In my view, we are at most a few weeks before the real panic sets in.

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UK’s Prime Minister Commits To Successful Brexit

By John Browne – Re-Blogged From http://www.Silver-Phoenix500.com

Despite months of fear mongering by former Prime Minister David Cameron and his allies in late June, accompanied by doomsday global economic forecasts offered by the International Monetary Fund and the Obama Administration and a steady drumbeat of anti-Brexit news stories by the BBC, the British people delivered an unexpected event to the global financial system by voting to take Britain out of the European Union. Despite the forecasts of doom and gloom, the people voted for freedom, democracy and common law.

Most of the elites continue to warn of dire consequences for Britain. Moreover, many believe that the separation process will be long, messy and perhaps even farcical. Many argue that Britain will seek some sort of reconciliation, once it realizes the true costs of its hubris. However, a July visit to the UK convinced me otherwise.

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A Simple Solution Ends The Problem Of Student Debt

By Sol Palha – Re-Blogged From http://www.Gold-Eagle.com

The real issue is that there are college students that don’t want to work…but want to go to the best colleges money can buy. Moreover, the parents are encouraging this. What happened to the day you went to the college you could afford, and you worked to pay for all of it or, at least, helped your parents.  The problem lies with the parents and the kids – i.e. the parents are encouraging this asinine behaviour.  Today’s generation believe that they are entitled to the best of the best without having to work for it.   College Graduates that are drowning in debt, but still refuse to give up on luxuries is a perfect example of this principle in action. Instead of tightening their belts, they continue to add to the debt…and then cry wolf when everything starts to fall apart.

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We’re All Hedge Funds Now

By John Rubino – Re-Blogged From Dollar Collapse

The most recent batch of economic stats was even more disappointing than usual, resulting in a cliff dive for the Atlanta Fed’s GDPNow US growth report:

It’s the same around the world: With European, Japanese and Chinese numbers coming in below (already lowered) expectations. The implication? Interest rates in major countries will either remain extremely low or fall further from here. With $11 trillion of government bonds already trading with negative yields, that’s a historically unprecedented prospect.

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Bitcoin Worth $72 Million Stolen From Bitfinex Exchange in Hong Kong

By Clare Baldwin – Re-Blogged From Yahoo!

HONG KONG (Reuters) – Nearly 120,000 units of digital currency bitcoin worth about US$72 million was stolen from the exchange platform Bitfinex in Hong Kong, rattling the global bitcoin community in the second-biggest security breach ever of such an exchange.

Bitfinex is the world’s largest dollar-based exchange for bitcoin, and is known in the digital currency community for having deep liquidity in the U.S. dollar/bitcoin currency pair.

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Slippery Oil Prices Plunge Over Cliff Into Bear Market

By David Haggith – Re-Blogged From Great Recession Blog

Oil today plunged quickly below $40 per barrel, taking oil prices down more than 20% from their high a little over a month ago. That officially defines a bear market in oil. As of today, oil has also moved below its 50-day, 100-day and 200-day moving averages. July has again turned out to be a huge disappointment for oil producers who mistakenly thought price recovery had come to stay.

In addition to the dark clouds I presented last week, here is a list of newly developing reasons and ways that oil prices are continuing to slide toward $30 per barrel … as I’ve predicted all along:

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Andrew Jackson vs Harriet Tubman vs Mickey Mouse

By Guy Christopher – Re-Blogged From Money Metals Exchange

This year marks the 101st anniversary of Andrew Jackson rolling over and over in his grave.

Back in 1915, the brand new Federal Reserve pasted the 7th President’s likeness on its first $10 debt note – a sharp slap to the President who fought and won his famously bitter battle to destroy the “corrupting monster” of central banking.

Old Hickory’s 1836 victory held steady until 1913, when the bankers gathered in secret at Jekyll Island, Georgia to plot the greatest bank robbery in history.

Andrew Jackson

President Jackson railed against central banks and paper money.

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