Maine’s Economic Present and Future Look Bright, but Democrats in Denial

By Onan Coca – Re-Blogged From http://constitution.com

The state of Maine is offering the rest of the nation proof that conservative economic policies not only work better in the short term by stimulating the economy, but are beneficial for the long term as well ensuring long–term economic success.

A new article in the Bangor Daily News examines the exciting economic successes of the controversial Republican Governor Paul LePage. Maine’s economic outlook is so bright that many other states in the nation are watching to see how they might incorporate some of the states policies in their own plans. The Daily News notes that Maine has an all-time record amount of “cash on hand,” more than $1 Billion, and that this is mostly due to Governor LePage’s fiscal discipline and economic decision making.

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Coney Island Incubator Babies

cropped-bob-shapiro.jpg     By Bob Shapiro

My wife just called my attention to an obituary of a 96 year old “Coney Island Incubator Baby.” What’s that, I asked, and I found a wonderful story of US Free Enterprise, borrowing and building upon innovation from France, early in the 20th Century.

Lucille Horn, Who Was Nursed To Health In A Coney Island Sideshow, Dies At 96

In this 2015 photograph, Lucille Horn stands on the boardwalk outside her home in Long Beach, N.Y.

Frank Eltman/AP

Weekly Climate and Energy News Roundup #259

By Ken Haapala, President, The Science and Environmental Policy Project

Brought to You by www.SEPP.org

Sea Level Rise: One disturbing activity by some government entities is using the highly speculative projections of future sea level rise to frighten the public The purpose appears to be to promote the false belief that humans can stop sea level rise by limiting or controlling carbon dioxide emissions. A common trick is using the widely ranging projections of the UN Intergovernmental Panel on Climate Change (IPCC). These projections are based on global climate models that have not been validated, and use of a few highly questionable studies based on a small sample of occurrences that cannot be generalized, globally.

In his presentation at the Ninth International Conference on Climate Change (ICCC9), former NASA meteorologist Thomas Wysmuller highlighted some of the difficulties in arriving at accurate estimate of global sea level rise. Even satellite measurements have significant errors, containing significant noise from wave action near the coast lines.

Wysmuller states that we have three different metrics for estimating sea levels: 1) tidal gages with an average of 1.7 mm per year; 2) TopeX/Poseidon/Jason 1 & 2 satellites with a rise of 3.1 mm per year; and ENVISAT satellite with a rise of 0.5 to 2.5 mm per year. Importantly, all the sources indicate linear trends!

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The Trump War Against the Administrative State: No Wonder They Oppose Him

[A good look at who Steve Bannon is. – Bob]

By Joe Scudder – Re-Blogged From http://www.Constitution.com

The Deep State hates Trump because, as Steve Bannon declared, he is dedicated to the deconstruction of the administrative state.

Steve Bannon declared war on the administrative state at CPAC. It is pretty much a synonym for the Deep State, which is actively opposing Donald Trump.

The Washington Post reports,

Bannon framed much of Trump’s agenda with the phrase, “deconstruction of the administrative state,” meaning the system of taxes, regulations and trade pacts that the president says have stymied economic growth and infringed upon U.S. sovereignty. Bannon says that the post-World War II political and economic consensus is failing and should be replaced with a system that empowers ordinary people over coastal elites and international institutions.

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The Fed’s “Third Mandate”

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

Lately, the Cartel has been throwing everything – including the kitchen sink – at Precious Metals; in silver’s case, vigorously defending its latest “line in the sand,” at the 200 DMA of $17.96/oz; and in gold’s, at its 200 day and 200 MONTH moving averages, both of which are roughly $1,266/oz.  And despite, as I mocked yesterday, the dollar index “rising” this week – due to heightened fear of a Eurozone breakup – they’ve been having an immense amount of trouble holding them down.

Yesterday, we saw the newest Cartel machination in action – of capping Precious Metal gains; no surprise, via the “Cartel Herald” algorithm, at the 12:00 PM EST “cap of last resort”; when Treasury bond auctions go, LOL, “well” – which I mock due to the fact that auction data is so comically easy to rig, to garner the desired “market” reaction.  Conversely, if such auctions go “badly” – i.e., a lower sale price than the prevailing market price – Precious Metal prices are smashed.  And of course, either way, PPT-supported stock prices are unaffected, subject only to the ubiquitous “dead ringer” algorithm, which “coincidentally” is centered around the Fed’s 10:00 AM EST “open market operations.”

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New 1918 Style Flu Pandemic Fear

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

This isn’t a climate article, it is about a real problem.

Back in 1918, the infamous flu pandemic killed an estimated 3-5% of the population of the time – 50-100 million people. The awful potential of a new 1918 style flu Pandemic to sweep the world and kill millions, perhaps billions, despite all our medical advances, makes every flicker of infectious ability for novel strains of flu newsworthy.

H1N1 Flu Virus.

H1N1 Flu Virus. By NIAID (H1N1 Flu Virus) [CC BY 2.0], via Wikimedia Commons

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Will The FED Tell Every American To Buy Gold Before It Destroys The Dollar?

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

Western Central Banks have a real knack for timing the sale of their gold reserves. They are absolute experts when it comes to picking the bottom of the gold market. Central banks in the UK, Switzerland and Norway, to mention a few, timed their sales to perfection. The only problem is that they all sold at the absolute bottom between 1999 and 2004. That was of course the time to buy gold and not to sell. But the Finance ministers in charge of Western economies have no understanding of economics. They don’t even understand that their absolute destruction of paper money is always revealed by the gold price.

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The Best Reasons To Buy Gold In The Age Of Trump

By Clint Siegner – Re-Blogged From http://www.Gold-Eagle.com

Notwithstanding the strong demand for gold and silver globally, buying activity in the U.S. retail market for physical bullion has fallen noticeably in the wake of Donald Trump’s election victory. And retail selling in the U.S. has increased. The bullion markets have entered a new phase.

The two terms of President Obama included the aftermath of the 2008 financial crisis, zero interest rate policy from the Federal Reserve, and multiple rounds of Quantitative Easing. Reasons to buy gold and silver were plentiful. Today, the reasons to diversify into gold and silver are as strong as ever, but they’re perhaps less obvious to the average retail buyer in the US.

Many of the people who felt deeply concerned about the direction of the nation under Barack Obama are currently more optimistic now. U.S. stock markets are moving relentlessly upward. Artificially low interest rates are sending home prices higher. Even the US dollar looks decent when compared to other world currencies.

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The Nexus Between Politics And Economics

By Michael Pento – Re-Blogged From http://www.Silver-Phoenix500.com

President trump made the following crucial statement on February 9th: “We’re going to be announcing something I would say over the next 2 or 3 weeks that will be phenomenal in terms of tax.” To be sure, the nucleus of the President’s economic plan is the simplification of the tax code. To get this accomplished means everything for the stock market. Without a reduction in tax rates the air compressor that has been blowing up equity prices to near record and unsustainable valuations will explode.

To be a successful investor requires the knowledge that there exists a strong nexus between economics and politics. In just a few short weeks we will get Trump’s details on the tax plan. Understanding what form the tax plan takes shape, or if there is any such plan enacted at all, is essential to your portfolio’s health because it will have a huge effect global currencies, bond prices, commodities and equities.

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How Many Euro Crises Will This Make? It’s Getting Hard To Keep Track

By John Rubino – Re-Blogged From Dollar Collapse

Every few years, it seems, one or another mismanaged eurozone country falls into one or another kind of crisis. This leads to speculation about the end of the common currency, which in turn spooks the global financial markets. Then the ECB conjures another trillion euros out of thin air, buys up and/or guarantees all the offending country’s bonds, and calm returns for a while.

At least, that’s how it’s gone in the past.

The latest crisis has more than the usual number of flash-points and could, therefore, be something new and different. Currently:

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Oil – Will we run out?

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

“Prediction is very difficult, especially about the future” (old Danish proverb, sometimes attributed to Niels Bohr or Yogi Berra)

In November, 2016 the USGS (United States Geological Survey) reported their assessment of the recent discovery of 20 billion barrels of oil equivalent (technically recoverable) in the Midland Basin of West Texas. About the same time IHS researcher Peter Blomquist published an estimate of 35 billion barrels. Compare these estimates with Ghawar Field in Saudi Arabia, the largest conventional oil field in the world, which contained 80 billion barrels when discovered. There is an old saying in the oil and gas exploration business “big discoveries get bigger and small discoveries get smaller.” As a retired petrophysicist who has been involved with many discoveries of all sizes, I can say this is what I’ve always seen, although I have no statistics to back the statement up. Twenty or thirty years from now when the field is mostly developed, it is very likely the estimated ultimate hydrocarbon recovery from the field will be larger than either of those estimates.

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Five Trillion Dollar Plan to Save the Arctic Ice

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

h/t JoNova – just in case you thought the climate community had run out of absurd ideas to waste taxpayer’s money, here is an academic plan to rebuild Arctic ice, by deploying 100 million wind turbines into the Arctic Ocean.

Save the Arctic with $5 trillion of floating, wind-powered ice machines, researchers recommend

Tristin Hopper | February 16, 2017 | Last Updated: Feb 17 9:34 AM ET

With the Arctic warming faster than anywhere else on Earth, a new scientific paper is proposing a radical scheme to thicken the ice cap: millions upon millions of autonomous ice machines.

Specifically, between 10 and 100 million floating, wind-powered pumps designed to spray water over sea ice during the winter.

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14 Reasons Why Silicon Valley Embraced Climate Alarmism

By Leo Goldstein – Re-Blogged From http://www.WattsUpWithThat.com

This essay attempts to address a rarely asked question: How did Silicon Valley, one of the greatest centers of wealth and brain power on Earth, embrace climate alarmism? Silicon Valley insiders are smart and successful people. By “Silicon Valley insiders,” I mean the founders, owners, venture capitalists, executives, and software professionals of the so-called tech companies located not only in the Silicon Valley, but elsewhere in the U.S.

Cognitive biases affecting understanding of the sciences

1. Silicon Valley insiders are educated and experienced in the software side of computer sciences but rarely in the kind of sciences that are directly involved with climate topics, such as physics, biology or energy engineering.

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$1 Billion in Social Security Benefits Paid to Individuals Without a SSN

Re-Blogged From Minuteman News

How does this kind of thing happen?   The Feds are so hit or miss when it comes to identification/proof requirements.   You can’t buy a pack of Sudafed now without showing a driver’s license.   And, heaven forbid you try to buy a gun (a guaranteed second amendment right) without handing over your right arm.   But, you want to collect money from the government – no proof of SSN needed.

$1 BILLION in tax dollars because these jokers can’t or won’t do their jobs.

The Washington Free Beacon reports – The Social Security Administration paid $1 billion in benefits to individuals who did not have a Social Security Number (SSN), according to a new audit.

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The Only Commodity Supply-Demand Indicator That Matters

By Steve Saville – Re-Blogged From http://www.Silver-Phoenix500.com

For an industrial commodity with a liquid futures market, the “term structure” of the futures market is the most useful — perhaps even the only useful — indicator of whether physical supply is tight, abundant or somewhere in between.

The term structure of a commodity futures market is the prices of futures contracts for the commodity over all available expiration months. It can be displayed as a chart, with price along the vertical axis and the expiration months along the horizontal axis. Here are examples for oil and copper.

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Hey California!!!, Wind and Solar Don’t Work in a Flood

Re-Blogged From CO2 is Life

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I hate to say I told you so, but I told you so. Climate realists like myself have been trying to call attention to how dangerous the misallocation of resources caused by this war on climate change truly is. Now California is finding out…too late.

Live updates: Evacuations below Oroville Dam remain in effect as officials try to make repairs before new storms

Instead of building and repairing roads, bridges, and dams, Californians built wind and solar farms, and wasted fortunes on countless other “green initiatives.” Just today some California schools are banning meat and cheese from school lunches.

A BIG Green Budget

The focus during Brown’s 2017-18 Budget press conference was climate change policy and spending, increases in spending on childcare, High Speed Rail rather than road improvements, and another $2.2 Billion for the faltering green economy with cap and trade, which Brown promised to double down on.

California is now learning the hard way justs how costly and dangerous it is to worship at the altar of Climate Change. Nothing man or California will ever do will alter the trend in atmospheric CO2, but man can prepare for the impact of climate change, whether caused by man or natural forces. Reinforcing dams, building roads and bridges, managing forests and fire hazard brush, building endangered species breeding farms, buying up and protecting sensitive habitat are all legitimate issues that aren’t being funded because the money is being redirected towards wasteful and ineffective feel good do nothing projects.

To make matters worse, everyone saw it coming and did nothing to prepare.

Environmental groups predicted emergency spillway erosion in 2005 court document

An Oroville reservoir emergency spillway that rapidly eroded over the weekend was first predicted in court documents filed by environmentalists more than a decade ago.

American should use California as a case study in stupidity, and not repeat her mistakes.

johnwayne

At least someone in California still has some common sense. “Make America Great Again” never looked so good.

gettyimages-634957200

Be sure to read: How to argue the science of Global Warming with a Climate Alarmist and win.

CONTINUE READING –>

How The Filthy Rich Create Jobs Directly & Indirectly!!!

By Jonathon Dunne – Re-Blogged From Freedoms Disciple

Let me start this column by asking you some questions. How much do you HATE rich people? How many think they hold poor people down? How many feel they are disadvantaged and put out by them? How many feel they don’t pay their “fair share”?

Let me introduce you to person X. He has a net worth of over $450 million and earned a massive $88 million in the last calendar. His “day-job” pays him around $26 million a year. You hate him already, right? Damned millionaires and billionaires!!! Right?

Well it gets worse so trigger warning. He is just the third person in history to sign a life-time contract with an un-named company worth $14 million a year and has other contracts that pay handsomely over the course of the year. Lastly he has hotels in four different cities.

How sad is the world we live in, that a chunk of the population including our friends on the left would read the above paragraph’s and hate him and seek to tear him down. I bet some of you have already messaged some of your friends wanting to start a protest, right?

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International Flows Of Funds

By Don Swenson – Re-Blogged From http://www.Silver-Phoenix500.com

The evolution of money has entered a new paradigm where our money flows are now mostly within cyberspace. This new paradigm is now becoming global and ubiquitous as metal and paper money is being eliminated from circulation gradually and relentlessly. Historical monies like paper notes and fiat units of account tied or backed to a commodity (gold/silver) have mostly been replaced with fiat cyber/digital currencies which ‘flow’ and ‘circulate’ within our computer screens. Cyberspace is now a reality for currency ‘flows’. Let’s briefly describe this historical evolution:

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Weekly Climate and Energy News Roundup #258

By Ken Haapala, President, Science and Environmental Policy Project

Brought to You by www.SEPP.org

Data Integrity: For several years, some commentators who deal with historic temperature data in their daily work, such as Joe D’Aleo of ICECAP, have stated that warming trends suddenly appeared in areas in which there were no such trend previously, such as the state of Maine. Until about 2011, the government published data showed no trend from 1900 to present. Suddenly, government published historic data showed a warming trend of about 3 degrees F. Tony Heller (who goes by Steve Goddard) has followed this issue, graphically showing that trends appeared in recently published historic data, where earlier historic data showed none.

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The Three Lives Of Alan Greenspan

By John Rubino – Re-Blogged From Dollar Collapse

When the history of these times is written, former Fed Chair Alan Greenspan will be one of the major villains, but also one of the greatest mysteries. This is so because he has, in effect, been three different people.

He began public life brilliantly, as a libertarian thinker who said some compelling and accurate things about gold and its role in the world. An example from 1966:

An almost hysterical antagonism toward the gold standard is one issue which unites statists of all persuasions. They seem to sense – perhaps more clearly and subtly than many consistent defenders of laissez-faire – that gold and economic freedom are inseparable, that the gold standard is an instrument of laissez-faire and that each implies and requires the other.

In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value. If there were, the government would have to make its holding illegal, as was done in the case of gold in 1934 under FDR. If everyone decided, for example, to convert all his bank deposits to silver or copper or any other good, and thereafter declined to accept checks as payment for goods, bank deposits would lose their purchasing power and government-created bank credit would be worthless as a claim on goods. The financial policy of the welfare state requires that there be no way for the owners of wealth to protect themselves.

This is the shabby secret of the welfare statists’ tirades against gold. Deficit spending is simply a scheme for the confiscation of wealth. Gold stands in the way of this insidious process. It stands as a protector of property rights. If one grasps this, one has no difficulty in understanding the statists’ antagonism toward the gold standard.

Awesome, right? But when put in charge of the Federal Reserve in the late 1980s, instead of applying the above wisdom — by for instance limiting the bank’s interference in the private sector and letting market forces determine winners and losers — he did a full 180, intervening in every crisis, creating new currency with abandon, and generally behaving like his old ideological enemies, the Keynesians. Not surprisingly, debt soared during his long tenure.

Along the way he was instrumental in preventing regulation of credit default swaps and other derivatives that nearly blew up the system in 2008. His view of those instruments:

The reason that growth has continued despite adversity, or perhaps because of it, is that these new financial instruments are an increasingly important vehicle for unbundling risks. These instruments enhance the ability to differentiate risk and allocate it to those investors most able and willing to take it. This unbundling improves the ability of the market to engender a set of product and asset prices far more calibrated to the value preferences of consumers than was possible before derivative markets were developed. The product and asset price signals enable entrepreneurs to finely allocate real capital facilities to produce those goods and services most valued by consumers, a process that has undoubtedly improved national productivity growth and standards of living.

He cut interest rates to near-zero in the early 2000s, igniting the housing bubble – which he was unable to detect along the way. He even made it into the dictionary, as the “Greenspan put” became the term for government bailing out its Wall Street benefactors.

From this the leveraged speculating community learned that no risk was too egregious and no profit too large, because government – that is, the Fed – had eliminated all the worst-case scenarios. Put another way, under Greenspan profit was privatized but loss was socialized.

Greenspan retired from the Fed in 2006 and, miraculously, began morphing back into his old libertarian self. A cynic might detect a desire to avoid the consequences of his past actions, while a neurologist might suspect senility. But either way the transformation is breathtaking. Consider this from yesterday:

Gold Standard Needed Now More Than Ever? – Alan Greenspan Comments

(Kitco News) – It would be best not to be short-sighted when it comes to gold; at least that is what one former Fed chair says.

“The risk of inflation is beginning to rise…Significant increases in inflation will ultimately increase the price of gold,” noted Alan Greenspan, Federal Reserve chairman from 1987 to 2006, in an interview published in the World Gold Council’s Gold Investor February issue.

“Investment in gold now is insurance. It’s not for short-term gain, but for long-term protection.”

However, it is really the idea of returning to a gold standard that Greenspan focused on — a gold standard that he said would help mitigate risks of an “unstable fiscal system” like the one we have today.

“Today, going back on to the gold standard would be perceived as an act of desperation. But if the gold standard were in place today, we would not have reached the situation in which we now find ourselves,” he said.

“We would never have reached this position of extreme indebtedness were we on the gold standard, because the gold standard is a way of ensuring that fiscal policy never gets out of line.”

To Greenspan, the reason why the gold standard hasn’t worked in the past actually has nothing to do with the metal itself.

“There is a widespread view that the 19th Century gold standard didn’t work. I think that’s like wearing the wrong size shoes and saying the shoes are uncomfortable!” he said. “It wasn’t the gold standard that failed; it was politics.”

One of the nice things about the information age is that public figures leave long paper trails and can’t therefore easily escape their pasts. Greenspan’s past, being perhaps the best documented of any central banker in history, will haunt him forever.

But hey, at least he’s going out a gold bug.

CONTINUE READING –>

Lessons Learned From the End of California’s “Permanent Drought”

By Larry Kummer – Posted at the Fabius Maximus Website.
Summary: The “permanent drought” in California, like the now ended “permanent drought” in Texas, is ending. But like the panic about Texas, it is rich in lessons about our difficulty clearly seeing the world — and the futility of activists exaggerating and lying about the science. Of course, they should have learned this after 29 years of trying (starting from James Hansen’s 1988 Senate testimony).

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Warnings of a permanent drought in California

Remember all those predictions of a “permanent drought” in California? Those were examples of why three decades of climate alarmism has not convinced the American people to take severe measures to fight anthropogenic climate change: alarmists exaggerate the science, and are proven wrong — repeatedly. When will the Left learn that doomster lies do not work?

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China Disaster To Trigger Gold Run, Trump To Appoint 5 of 7 Fed Governors

By Mike Gleason – Re-Blogged From http://www.Gold-Eagle.com

Mike Gleason (Money Metals Exchange): It is my great privilege to be joined now by James Rickards. Mr. Rickards is editor of Strategic Intelligence, a monthly newsletter, and Director of the James Rickards Project, an inquiry into the complex dynamics of geopolitics and global capital. He’s also the author of several bestselling books including The Death of Money, Currency Wars, The New Case for Gold, and now his latest book The Road To Ruin.

Jim is a portfolio manager, lawyer, and renowned economist having been interviewed by CNBC, the BBC, Bloomberg, Fox News, and CNN, just to name a few. Jim, we really appreciate your time and welcome back. It’s great to have you on again.

Jim Rickards (The James Rickards Project): Great to be with you.

Mike Gleason: Well, first off, Jim, you just published an article at the Daily Reckoning regarding China that I want to have you comment on. Now, since the election of Donald Trump who is advocating for import taxes on goods from China and elsewhere, most of the focus has been on trade and China’s efforts to devalue their currency. A trade dispute with China could certainly have significant repercussions in the U.S., but you raise a host of considerations beyond tariffs and currency markets. Talk for a minute about the internal politics of China, and then if you would, share some of the macroeconomic shifts you see developing between the U.S., China, and Russia, because things seem to be heating up here.

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Is 50% Of Western Central Bank Gold Gone?

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

We have recently had some significant news about the sovereign gold market that makes the lack of clarity even more unclear. Central banks and the BIS in Basel go to great length to tell the world absolutely nothing about their gold dealings. All transactions are carried out covertly and no central bank ever has an official audit of their gold holdings. The last US audit was during Eisenhower’s days in the 1950’s. Ron Paul has been pushing for an audit but to no avail. Will Trump instigate an audit? Well, he might have the intention but when he finds out that a major part of the US 8,000 tons of gold is not there, it will all go quiet. There have been pressures for audits in France and Germany in later years but this has had no effect. No country wants to reveal that the gold isn’t there.

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US Economic Freedom Has Hit a Historic Low. What Happened?

By Anthony B Kim – Re-Blogged From Daily Signal

It’s already been eight years since the Great Recession, yet the U.S. economy has been just inching along, with its productivity flagging and millions being locked out of the labor market.

One critical underlying factor for this lack of economic dynamism has been the startling decline of America’s economic freedom, an unfortunate legacy of Barack Obama’s eight-year presidency.

The Heritage Foundation’s 2017 Index of Economic Freedom—an annual global study that compares countries’ entrepreneurial environments—highlights the urgent need for the U.S. to change course. For the ninth time since 2008, America has lost ground.

According to the 2017 index, the U.S. ranks 17th out of 180 rated economies, lagging behind other comparable advanced economies such as Switzerland (fourth), Australia (fifth), Canada (seventh), and the United Kingdom (12th).

The U.S. remains mired in the ranks of the “mostly free,” the second-tier economic freedom status into which it dropped in 2010.

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Exacerbating the Business Cycle

cropped-bob-shapiro.jpg   By Bob Shapiro

I recommend a recent article to you, “The Origin of Cycles,” by Alasdair Macleod. The author describes several characteristics of business cycles and some causes. It is well worth reading. I would like to add to his presentation.

Business Cycles have been identified for several hundred years. Adam Smith in his The Wealth of Nations (241 years go!) discussed the Pig Cycle. Farmers noticing that then current prices supported a nice profit over current costs, expanded their herds. But then the expanded supply some time later caused pig prices to fall, which encouraged some pig farmers to reduce their herds. Reduced future supply raised prices allowing the cycle to repeat every 3-5 years.

Image result for pigs

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A Trade Deficit Is Never A Problem

[Fiat Money(paper money) can allow Trade Deficits to continue indefinitely, while under a Gold Standard, the imbalance is corrected automatically. In either case, Trade is good, while restrictions are bad. – Bob]

By Steve Saville – Re-Blogged From http://www.Silver-Phoenix500.com

It’s not just Donald Trump. Many political leaders around the world operate under the misconception that a trade deficit is a problem to be reckoned with. This misconception has been the root of countless bad policies over the centuries.

Trade, by definition, is not an adversarial situation resulting in a winner and a loser. Rather, both parties believe that they are benefiting, otherwise the trade would not take place. Most of the time, both parties do benefit. In general, one side wants a particular product more than a certain quantity of money and the other side wants the quantity of money more than the product. When the exchange takes place, both sides get the thing to which they assign the higher value at the time.

All the hand-wringing about international trade deficits is based on the ridiculous notion that the side receiving the money is the winner and the side receiving the product is the loser, but how could this be? If the side receiving the product was losing-out then it wouldn’t enter into the trade. Furthermore, given that today’s money is created out of nothing, if a trade were to be viewed as a win-lose situation then surely it’s the side receiving the product that should be viewed as the winner.

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Jim Rogers Buying Gold Bullion On Dips

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

  • Jim Rogers accumulating gold bullion on dips
  • “Get prepared” as “we’re going ‘to have the worst economic problems we’ve had in your lifetime or my lifetime’
  • Warns that Trump and his team are “very, very keen to have trade wars with China and other people”
  • History shows trade wars lead to real wars
  • Cashless Society – Cash-less means Freedom-less
  • Cashless societies are about governments “looking out for themselves first”
  • Gold and silver may head lower but advises accumulating bullion on the dip
  • Advocates storing gold in Singapore

Jim Rogers holds a gold coin (Digital Journal)

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Europe Eyes Sweeping Cash Ban

By Clint Siegner – Re-Blogged From http://www.Gold-Eagle.com

The global war on cash rolls on. The cabal of bankers seeking more transaction fees, busybody political leaders, and central bankers who want to experiment with negative interest rates recently threw India into turmoil by eliminating the two largest denomination bank notes.

Now they are preparing a similar assault on Europeans’ ability to transact privately and without giving bankers a cut. European Union officials just published a “Proposal for an EU Initiative on Restriction on Payments in Cash.”

War on Cash

 

Predictably, the restrictions are being sold to citizens as a means of fighting terrorism – much like a host of other privacy and liberty-destroying power grabs in recent decades. This despite a telling admission contained in the proposal: “There remains the lack of readily available and solid evidence on legitimate versus illegitimate cash transactions.” Ban the use of cash first, ask questions later.

Officials may, however, come to regret the timing of their proposal. Many European citizens will have trouble reconciling why leaders are willing to clamp down severely on cash, but not on the flood of refugees pouring in from the Middle East. Can they really be serious about terrorism?

Anti-EU movements are surging across the continent, with important elections coming this year in both France and Germany. Anger and frustration is already threatening to tear the EU apart. Now EU officials are floating another measure that promises to be controversial.

In Germany, 79% of transactions are done in cash. Many there aren’t going to take restrictions lying down. Some see the war on cash for what it is – bureaucrats using the lever of fear to once again ratchet up controls and restrict privacy.

The EU bureaucrats may just see the day when citizens stop using paper euros to make payments, but not because of the restrictions they hope to impose. It could instead be the result of the EU and its common currency being dumped.

A European setback for the bankers and politicians behind the move to de-monetize cash would be good news for bullion investors everywhere, including the U.S. Attempts to regulate the trade of physical gold and silver will not be far behind any restrictions on cash. Precious metals are an obvious target because they are a premier form of private, off-the-grid, and portable wealth.

With these draconian proposals gaining momentum across the globe, you can bet we will continue to follow the war on cash carefully.

CONTINUE READING –>

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Temperature and CO2 Data Made to Order

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

From the beginning, the pattern of the Intergovernmental Panel on Climate Change (IPCC) and its proponents was to produce the science required for the political agenda. It began publicly with James Hansen providing the science Senator Timothy Wirth required for his 1988 Congressional Hearing. The entire process was set up to allow for the creation of bespoke science to determine the political decisions. The Conference of the Parties COP), the political agency acts on the faux science of the Summary for Policymakers, which is released before the Physical Science Basis. Therefore, when the emails were leaked from the Climatic Research Unit (CRU) just before COP 15, they had to abandon the Kyoto Protocol.

The revelation by Dr. John Bates that the “pause-busting” graph produced by NOAA was manipulated was no surprise. It was just another piece of bespoke science produced to push forward the AGW agenda and the Paris Climate Agreement. Bates used strange terminology by saying the graph was “hyped” and based on unverifiable, misleading, data. This is Orwellian Newspeak, for saying it was deliberately falsified for a predetermined result. They cheated. Bates is not a whistleblower because he waited until he retired to speak out. It is likely he would still be silent if Hillary Clinton were elected.

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French Election Could See Euro Break Up

By Mark O’Byrne – Re-Blogged From GoldCore

David McWilliams, economist, writer and journalist, has warned that the coming French election may lead to the euro breaking up and that Ireland should have a ‘plan B’ and ‘print punts’ in order to be ready for the collapse of the “single currency.”

David McWilliams at Ireland’s Banking Inquiry

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Renewables Won’t Work – Even If Climate Claims are True

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

Imagine for a moment that all the wild claims of climate driven future weather disasters will occur as predicted. In this imaginary future climate dystopia, how will wind power cope with super storms? How will solar power cope with hail, tornadoes, cyclones and floods? How will hydro power cope with endless droughts? How will biofuel crops cope with storm damage, droughts and unseasonal heatwaves?

wind-turbine[1]

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What Creates and Sustains Jobs?

By Dale Netherton – Re-Blogged From iPatriot

The politicians mutter the word “jobs” as if they understood where jobs come from and what conditions are necessary to sustain jobs.

First, without revenue to pay wages no job can exist or if created continue to exist.  The question then becomes, where will the revenue come from?  There are two sources of revenue for jobs.  One is the direct granting of revenue by the government which funds government jobs.  If there is funding available the job can continue until the funding disappears.  The other source of revenue is profit.  If a job is created to supply a good or service and it is sustained by paying for itself, this job is sustainable as long as it is competitive.  This is the only job that can exist that doesn’t rely on confiscation and redistribution.  Jobs that rely on “government funding” are not self sustaining since they must have confiscation and redistribution.  Government cannot create wealth, it has nothing it doesn’t confiscate or borrow.

All government created jobs are necessarily temporary.  Debt and eventual inflation destroys the foundation for government funding of jobs as the private sector that supports sustainable jobs shrinks under the regulation and taxes that eventually destroys the profit motive and therefore the only source of self sustaining jobs.  The CCC camps could not have been retained as permanent jobs.  The demise of the Post Office and Amtrak are examples of where government “jobs” must eventually falter.  The source of these two government jobs comes from the government subsidies.  Neither is self sustaining based on the income they generate.  This means a private sector is being taxed and the confiscation of their earnings is being channeled to the subsidy the government is supplying.

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Where Did the 2016 El Niño’s Heat Come From?

By Mike Jonas – Re-Blogged From http://www.WattsUpWithThat.com

1. The basic physics

2016 was claimed as the “hottest year ever”. Well, the hottest for a few centuries, anyway, if the global temperature measures are to be believed. Let’s suppose that they are. It is known that 2016 was an El Niño year, and that the “hottest year ever” was caused by a burst of warm water from the ocean (and we know that CO2 doesn’t act that fast). So – where did the El Niño’s heat come from? Let’s look at some basic physics:

Greenhouse gases (GHGs) warm the atmosphere. From there, the downward Infra-Red (IR) radiation reaches the ocean surface.

IR cannot penetrate more than a fraction of a millimetre into the ocean, so it warms just the surface skin. From there most of its energy goes back into the atmosphere or space, but some of it can convect or conduct into the ocean.

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Gold Stocks’ Strong New Upleg

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

Gold stocks are on fire this year, powering higher in market-dominating performance.  This is a massive reversal from their dark fourth quarter, with 6/7ths of those losses already erased.  But this strong new upleg still remains young and small by historical standards.  Gold stocks’ recent rally is only the vanguard of another major bull-market upleg.  This sector’s bullish technicals reveal vast upside potential from here.

The gold miners are a small contrarian stock-market sector that isn’t widely followed.  Hearing about how the gold stocks are faring in the mainstream financial media is pretty rare.  So this sector generally flies under the radars of the great majority of speculators and investors.  That’s rather unfortunate, because the gold stocks have enjoyed some of the greatest gains in all the stock markets in this young century.

The flagship gold-stock index is the NYSE Arca Gold BUGS Index, which trades under the symbol HUI.  BUGS stands for Basket of Unhedged Gold Stocks, as major gold miners can’t be included in the HUI unless their gold production is not hedged beyond 1.5 years.  Running all the way back to June 1996, and having no management fees like ETFs, the HUI offers the definitive read on gold-stock performance.

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Climate and Caring for Creation: A Book of Good Intentions But Poor Science

By Neil L. Frank, Ph.D. – Re-Blogged From http://www.WattsUpWithThat.com

As an evangelical Christian, I believe we should be good stewards of God’s planet. We should strive to reduce pollution to protect human health and the natural environment. We should explore new alternative energy sources, always seeking to maximize benefits and minimize harms. We should prioritize providing electricity for the 1.2 billion people who don’t have it—and consequently suffer high rates of disease and premature death.

For these and many other reasons I applaud Mitch Hescox and Paul Douglas’s Caring for Creation: The Evangelical’s Guide to Climate Change and a Healthy Environment (Bethany House, 2016). I enjoyed chapter 4 “We Are Easter People,” which encourages us to move forward not only in our Christian walk, but also in our physical world to explore new alternative energy sources. I appreciate their passion when discussing alternative energy in chapter 6. The success of the M-Kopa Solar Company in Africa with small solar units is impressive. As the authors point out, most of the 1.2 billion people in the world who have no electricity live in remote regions where it would be impossible, in the near term, to erect adequate power lines even if centralized power plants were built. There and in many other remote locations small solar units are the better answer.

It is unfortunate, however, that Hescox and Douglas chose not to present an unbiased discussion of the global warming debate, because this distracts from other excellent parts of the book.

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Climate Promotion: Seriously Failing

By Bob Hoye- Re-Blogged From http://www.Silver-Phoenix500.com

As an out and out promotion, climate concerns seemed to peak with Copenhagen in December 2009. The media was full of countdowns to the “end of the world”. England’s prime minister proclaimed “There are only 50 days to save the planet”. A newspaper headlined “Sun Going Down on Climate Skeptics”.

And then there was the recent magnificent signing of the Paris Agreement, which was opened for signing on Earth Day, April 22, 2016. Christina Figueres at the UN stated that the agreement was “not to save the world from ecological calamity, but to destroy capitalism”. This was widely reported and described the full truth about climate activism.

So far as the promotion goes, a Google sweep finds no headlines about “Only 50 days…etc.” preceding the Paris confab.

This week, the Daily Mail reported “NOAA breached its own rules on scientific integrity when it published the sensational but flawed report, aimed at making the maximum possible…on the UN climate conference in Paris”.

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Your Money or Your Life

By Herman Gazort – Re-Blogged From iPatriot

The armed robber puts a gun in your back and says it simply and frankly. The Marxist socialist says the same thing with more words.

As a matter of fact, the socialists main tool is words. They weaponize them by redefining concepts. They take a privilege and say it is a right. A socialist redefines himself as a “liberal” to confuse liberty with socialism. They redefine “tolerance” to confuse mercy and impunity and brand justice as “intolerant.” Now they redefine perversion as “sexual preference” so that soon pedophilia, necrophilia and animalism will be as “acceptable” as homosexuality. They have converted emasculation into “sensitivity” and masculinity into monstrosity, but in their insane rebellion against truth, the most “feminist” of “feminism” go to the most antifeminists of beliefs — Islam. In recent cases they are trying to convert immigration — a privilege by any sane standard — into a “right” for the purpose of eliminating nationality and thus national defense, sovereignty and patriotism. Socialists in judicial power will continue to do so until executive power stops their abuse and enforces constitutional law.

your-money-or

(Congratulations for standing up for RIGHTS President Trump.)

Globalists say they’ll take your money and kill you (wage external war or internal strife) if you don’t accept their debt based money, or accept their conditions of interest and political policy (like “human rights,” “social justice,” “tolerance,” “political correctness” and, eventually “global government and the New World Order.”) — These will use the money they created from our future to wage street protests and make nations fight each other Russia or China if you reject their money, their debt or their conditions, like not “bailing out” their banks with our future and the future of our future generations. Your money or your life — same concept different words.

In the “Affordable Health Care” plan, the globalists are, saying that they’ll keep you from even getting into a hospital if you don’t pay a big and ever increasing deductible or accept an unpayable debt. Same concept different words.

Communists say we’ll take your productive facilities or we’ll kill or throw you out. So they do, and the only thing they prove is that bureaucrats and politicians can’t produce, because they only know how to steal. And when the leaders only know how to steal, the people can’t learn how to produce. But they do learn how to steal from each other, so parasites eat parasites. In the early stages people have to wait in long lines to get bread, soap or toilet paper. In later stages, they hunt and eat each other. Same concept different words.

Fascists say, you need to buy our protection from competition with higher taxes or we’ll tax you to death and send criminal elements to shut you down. So, the net effect is big, inefficient, corporations that produce goods of less value for more costs, because of their overhead to government and banks. Honest, hardworking, creative competition dies out, and so does the morality of exchanging value for value. Same concept different words.

What dies is sovereignty, for the individual and the nation.

With the loss of sovereignty comes the loss of freedom. True freedom, the responsibility-driven freedom of doing the best and promoting the common good instead of the average bad of giving in and taking in so that you get some loot. It is, in essence a gradual loss of values which comes at a gradual increase in price. This is what religion calls selling your soul to the devil. The bigger the religion, the more formalized is the acceptance and “tolerance” of the average bad. Now, Marxism is the biggest religion.

The same concept — Your Money or Your Life.

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Reports of Widespread Rioting Across UK Takes Government by Surprise

[Europe is suffering from fruit &vegetable crop failures due to cold & wet conditions in Spain and Italy, which supply the UK and most of Europe. Several super markets are rationing lettuce and broccoli. This article is (likely) a tongue in cheek description of some of the havoc being caused by the shortages. The quiet sun today, and the quiet sun during the Maunder Minimum a couple hundred years ago are thought to be causes of the untoward climate. – Bob]

Tonight, the U.K. Is in disarray. The major cities of London, Manchester, Liverpool, Leeds and Birmingham are in lockdown with reports of outbreaks of vegans rioting.

There has been widespread looting in independent fruit and veg shops. Suppliers have been stripped of their produce and burned to the ground. Several grocers have been badly trampled as vegetarians in their thousands plunder local shops for lettuce.

Even More on the David Rose Bombshell Article: How NOAA Software Spins the AGW Game

[When I discuss Global Warming with Alarmists, I frequently ask, “If their case is so strong, then why do they need to resort to lying?” This article is one of several – as a result of a whistle blower in a government agency – dealing with the regular practice at NOAA, GISS, GHCN, and other climate data agencies of manipulating and adjusting historical data in inappropriate ways to lower older readings in order to show a stronger uptrend in the dataset. In other words, they LIE! While I would be satisfied if President Trump merely can  end the Global Warming hysteria coming out of taxpayer funded agencies, if it were up to me, the liars would go to jail. – Bob]

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By Rud Istvan – Re-Blogged From http://www.WattsUpWithThat.com

The disclosures by Dr. Bates concerning Karl’s ‘Pausebuster’ NOAA NCEI paper have created quite the climate kerfuffle, with Rep. Smith even renewing his NOAA email subpoena demands. Yet the Karl paper actually is fairly innocuous by comparison to other NOAA shenanigans. It barely removed the pause, and still shows the CMIP5 models running hot by comparison. Its importance was mainly political talking point pause-busting in the run up to Paris.

Here is an example of something more egregious but less noticed. It is excerpted from much longer essay When Data Isn’t in ebook Blowing Smoke. It is not global, concerning only the continental United States (CONUS). But it is eye opening and irrefutable.

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US Exorbitant Privilege At Risk?!

By Axel Merk – Re-Blogged From http://www.Gold-Eagle.com

If the road to hell is paved with good intentions, American’s exorbitant privilege might be at risk with broad implications for the U.S. dollar and investors’ portfolios. Let me explain.

The US was the anchor of the Bretton Woods agreement that collapsed when former President Nixon ended the dollar’s convertibility into gold in 1971. Yet even when off the remnants of the gold standard, the U.S. has continued to be the currency in which many countries hold their foreign reserves. Why is that, what are the benefits and what are the implications if this were under threat?

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The Bargain Of The Century

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

Buy high and sell low is the mantra of many stock market investors. When a stock or a market reaches a new high, the average investor turns even more bullish. That is also the point when the media talk about it and it becomes headline news. This is now the situation for many stock markets worldwide. US, UK, and many European markets are now at all-time highs. But the picture is not rosy everywhere. The Chinese market is 40% lower than the 2015 highs and the French, Italian and Spanish markets are around 20% below the 2015 levels. Yet, few investors in the West worry about these peripheral markets but instead focus on the US and the main European indices.

There are times when there is still upside potential in markets which are making new highs. But a market which has been rising incessantly for almost seven years and which is grossly overvalued on any criteria is certainly not a low risk investment.

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According To “Unmassaged Data” The US Economy Is Rolling Over

By Graham Summers – Re-Blogged From http://www.Gold-Eagle.com

Yet another “unmassaged” data point has shown that the US economy is rolling over.

If you’ve been reading me for a while you know that one of my biggest pet peeves is the fact that headline US economic data (GDP growth, unemployment, inflation, etc.) is massaged to the point of being fiction.

For this reason, in order to get a real read on the economy, you have to look for economic metrics that are unpopular enough that the beancounters don’t bother adjusting them.

Case in point, look at the latest employment trend for S&P 500 companies (H/T Sam Ro).

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Weekly Climate and Energy News Roundup #257

By Ken Haapala, Pres., Science & Environmental Policy Project http://www.SEPP.org

Climate Change Understanding: Two separate guests to Watts Up With That discuss major issues in climate change modeling and the processes used by the UN Intergovernmental Panel on Climate Change (IPCC). Some of these issues have been present since the inception of the IPCC and carry over to other government-funded reports such as those by the United States Global Change Research Program (USGCRP). The issues may create substantial systematic errors in the reports, some of which continue after decades of research.
Tim Ball, a student of climate change pioneer H.H. Lamb, discusses the problem of developing a refined hypothesis (theory) that exceeds the capability of gathering the data needed to substantiate that hypothesis (theory). Lamb established the Climatic Research Unit (CRU) at the University of East Anglia as a center for collecting climate data. As Ball states, Lamb wrote:
“…it was clear that the first and greatest need was to establish the facts of the past record of the natural climate in times before any side effects of human activities could well be important.”
This goal has been thwarted by those who succeeded Lamb and used CRU as a means for reinforcing the belief that human activities dominate climate change, not merely contributed to climate change.
Very simply, we do not have the surface data and the processes to separate natural variation from the human activities. And the processes used lump natural variations with human activities, particularly in surface temperature data. The processes used by the IPCC and USGCRP are faulty, and need to be changed or ignored. These entities are not engaged in empirical science to understand climate change. Instead, they are engaged in processes “to prove” climate change is caused by humans, even if it requires ignoring history. Often the lack of rigorous research is disguised by vague language. Ball’s lengthy post is well worth reading. See links under Challenging the Orthodoxy.

Quote of the Week.
“When people learn no tools of judgment and merely follow their hopes, the seeds of political manipulation are sown.” Stephen Jay Gould [H/t Tim Ball]
http://drtimball.com/…


Number of the Week: $23.7 Billion


Climate Change Modeling: As with Tim Ball, retired mathematician Mike Jonas discusses the issues involved in developing a hypothesis and models that go beyond the capabilities of meaningful measurement. Jonas emphasizes the problems of using expanded weather models as global climate models. The weather models are chaotic, thus produce different results with each model run.
As Fred Singer stated in a report by the Nongovernmental International Panel on Climate Change (NIPCC, 2010), based on an investigation of Japan’s climate model, at least ten separate runs are needed in hopes to obtain a central tendency for each individual model. Yet, the IPCC presents only one model run for each of the many models it uses it its reports. There is no logical reason to assume that any particular run represents the central tendency of that model.
Jonas discusses that the US National Center for Atmospheric Research (NCAR) performed 40 runs from 1920 to 2100 for its Community Earthy System Model (CESN), with a slight change in initial conditions – the global atmospheric temperatures was changed by less than one-trillionth of one degree for each run. The NACR / UCAR’s publication AtmosNews states that the results were called the CESM Large Ensemble that give “astounding” diverse climate projections. In little over a year, the Ensemble data were used in “100 peer-reviewed scientific journal articles.” One wonders how many of these articles questioned the utility of using such highly unstable models for estimating future climate. Jonas stated: “This NCAR report shows unequivocally that the climate models in their current form can never predict future climate.”
As H.H. Lamb demonstrated, the earth’s climate changes. However, compared with nature, climate models are highly unstable, yet EPA and other government organizations claim they represent nature.
In the post and an earlier one, Jonas discusses the problems involved in “tuning,” that is adjusting the models to produce appropriate results. A major problem, not particularly discussed, is adjusting the models to surface data, while atmospheric data are largely ignored. Yet, as stated in the 1979 Charney Report published by the National Academy of Sciences, the effects of greenhouses gases occur in the atmosphere, with the secondar effect at the surface.
Both the surface and atmospheric temperature data are affected by natural occurrences such as volcanoes and El Niños. However, surface data are affected by many additional human influences, such as the Urban Heat Island Effect, irrigation, location of instruments near airports, etc. In general, for decades the models have been “tuned” to the wrong data. As John Christy’s testimony to Congress demonstrated, except for the Russian model from the Institute of Numerical Mathematics, using a single run, the IPCC models greatly overestimate the warming of the atmosphere, where the effect of greenhouse gases occurs. See links under Challenging the Orthodoxy – NIPCC, Challenging the Orthodoxy, Defending the Orthodoxy, and Models v. Observations.


Bias in Publications: Patrick Michaels and Paul “Chip” Knappenberger discuss bias in publications, including the magazines Nature and Science. However, their discussion does not sufficiently underline the extreme bias in these publications.
In March 1990, Science published a paper by Roy Spencer and John Christy describing a method for using data collected from NOAA polar orbiting weather satellites to comprehensively calculate atmospheric temperatures for virtually the entire globe, except for the extreme poles. These data cover about 97 to 98 percent of the globe, including oceans, deserts, mountain ranges, jungles, etc. where there are few surface instruments. Initially, certain small errors in calculation were discovered, including orbital decay. These were acknowledged and corrected. This is how science advances.
However, these magazines largely ignore studies using comprehensive satellite data in favor of studies using sparse surface data. Further, often the missing data is infilled, that is calculated from other data that may result in systematic biases. For an extreme example, Nature published Mr. Mann’s hockey-stick which used a statistical technique, that had an internal bias, to create the impression that late 20th century warming was unprecedented as compared with the prior 1,000 years, at least in the Northern Hemisphere. This article has not yet been retracted. See links under Challenging the Orthodoxy.


TWTW Guilty of Bias: TWTW emphasizes reporting studies and articles that contradict and question establishment climate and environmental science because it does not have the staff to adequately explore all such articles.
When it comes to evidence of CO2-caused global warming / climate change, TWTW has focused on the lack of evidence, weaknesses in the evidence supporting CO2 is causing warming, and evidence of other causes. In part, this is justifiable because the UN and the US have enormous budgets dedicated to emphasizing CO2 as the cause, without properly considering natural variation. The US spends about $2.5 billion a year on “climate science.”
This problem is amplified by UN and US entities using the results of global climate models as proof of cause. These models are poorly implemented to understand the influences of greenhouse gases. They are “tuned,” that is adjusted to surface temperature measurements when the greenhouse gases effect occurs in the atmosphere. The fact that these models are not properly tested, that is, verified and validated, indicates the severity of the problem. The disconnect between the research efforts and the political demand to control greenhouse gas emissions is severe.
The NIPCC reports contain a more balanced view, but are largely ignored by the climate establishment and many US scientific organizations – though not by the Chinese Academy of Sciences. See links under Challenging the Orthodoxy – NIPCC.


Political Stability: Retired EPA scientist Alan Carlin asks a question about the US. “What will happen to the climate alarmist cause in two, four, or eight years?” Carlin considers the US political system more stable than the European systems, thus significant change is slow to take hold.
The difference in timeliness has been observed by others as well. Usually, in parliamentary systems, the leader of the executive branch is also the leader of the legislative branch, thus there is more cohesiveness in implementing political programs. The downside is actions such as the UK Climate Change Act of 2008, following the 2007 IPCC Fourth Assessment Report (AR-4). The Act requires that the UK becomes a low-carbon economy, to cut CO2 emissions by 80% as compared with a 1990 baseline. The public is suffering from misallocation of resources due to programs attempting to meet the requirements of this Act.
In the US, political power is far more diffuse, less concentrated. Often, the executive and legislative branch are controlled or led by different political parties. Also, state and regional interests are important. Thus, party discipline is reduced in the legislative branch, as compared with European parliaments. President Obama found this out when his version of the Climate Change Act, the American Clean Energy and Security Act of 2009, failed to pass the Senate, even though the Senate and House were controlled by his political party. What will happen over the next four years is very difficult to predict. See link under Questioning the Orthodoxy.


Snappy: Amusingly, recent newspaper reports labeled the author of TWTW a “swamp alligator.” He is guilty of touring and observing wildlife in southern swamps, such as the Okefenokee National Wildlife Refuge, some with a pH as low as 4. In the mid-20th century, the Okefenokee was the setting for a noted comic strip that appealed to adults, Pogo. One of the main characters was Albert the Alligator. But, that name is too docile for TWTW, so let’s call him Snappy. See links under Below the Bottom Line.


Number of the Week: $23.7 Billion. Lisa Linowes, who follows such matters, wrote in Master Resource that the US Joint Committee (House and Senate) on Taxation (JCT) now estimates the total cost of the wind production tax credit in the years 2016–2020 to be $23.7 billion. The $23.7 billion is for deployment of an electricity generating system that is not reliable. Wind production is not dispatchable, meaning it can be turned on when needed, within a known time-period. Wind power places a burden on reliable forms of electricity generation. Further, wind power is not needed for electricity in the US, except for isolated conditions. See link under Alternative, Green (“Clean”) Solar and Wind.


ARTICLES:
1. Trump Dams the Regulatory Flood
His executive order should change the bureaucratic incentives.
Editorial, WSJ, Jan 30, 2017
https://www.wsj.com/articles/trump-…
SUMMARY: After recognizing the contradictions in early actions the editorial states: “President Trump signed an executive order adopting a ‘two-for-one’ regulatory budget that will help accelerate growth and innovation.
The Obama years were a boom era for rule-making, but the truth is that obsolete and onerous rules have been accumulating for decades. In a working paper for George Mason’s Mercatus Center, Bentley Coffey,Patrick McLaughlin and Pietro Peretto estimate that the economy would be about 25% larger if the level of U.S. regulation had stayed constant since 1980. That’s now more than $4 trillion a year, or $13,000 per person.
The Trump order aims to prevent such waste by requiring the agencies to repeal two old rules for every new one they publish. This is in some sense a gimmick, since some regulations are far more significant, costly or distorting of investment choices than others. But the text of the order suggests that for every dollar of new cost imposed on the private economy, each agency will have to find two dollars of burden to relieve.”
“The permanent bureaucracy lives to justify its own existence, regardless of which party holds the White House, and rules inevitably beget more rules. Mr. Trump’s order starts to change the institutional incentives.
“Under a two-for-one policy, each individual department will need to scrutinize its own books in search of offsets and rules needing modernization, which will make deregulation as high a priority as rule-making. The Environmental Protection Agency can’t poach savings uncovered at, say, the Fish and Wildlife Service. This could lead to more realistic cost-benefit tests, focus the bureaucracy on trade-offs and strengthen regulatory accountability.”
“One key appointment to watch will be Mr. Trump’s choice to run the White House Office of Information and Regulatory Affairs (OIRA), who will be crucial to ensuring that the rollback will work in practice. The White House has failed to appoint a regulatory task force to supervise regulation until the OIRA job is filled, and this means that some agencies will now try to expand their writ while no one is watching. Democrats will try to delay approving a nominee for as long as possible.
“Meanwhile, the House this week will begin the job of repealing some of President Obama’s worst regulations. Republicans plan to rescind Mr. Obama’s midnight rules under the Congressional Review Act (CRA) that gives Congress an up-or-down vote on new rules. The House and Senate will vote on joint disapproval resolutions, which need only a majority before they are sent to the President.
“On the chopping block is one EPA regulation related to streams that is estimated to threaten up to one-third of the remaining jobs in the coal industry. Another target is a Bureau of Land Management rule designed to undermine oil and gas fracking on federal land. A third is a Securities and Exchange Commission rule that forces U.S. companies to report payments to foreign governments, which can mean disclosing proprietary information that competitors can use against them.
The CRA is a exceptionally powerful reform tool, as our Kimberley Strassel reported last week. Amid the rush to pump out ever more rules, the Obama Administration may have failed to comply with many CRA mandates. The more the Trump Administration works with Congress to codify reform, the more durable the economic progress will be.
“…If Mr. Trump can break up the Washington central planning that is again misallocating resources, the resulting job creation and new investment would be a great legacy.”


2. What Kind of a Judge Is Neil Gorsuch?
He carefully follows the law, and writes as engagingly as Scalia, without the abrasiveness.
By David B. Rivkin Jr. and Andrew M. Grossman, WSJ, Jan 31, 2017
https://www.wsj.com/articles/what-k…
SUMMARY: After lengthy praise of the Judge’s literary style, the authors write:
“Judge Gorsuch’s textualism extends to the Constitution, quite emphatically: ‘That document,’ he wrote, ‘isn’t some inkblot on which litigants may project their hopes and dreams for a new and perfected tort law, but a carefully drafted text judges are charged with applying according to its original public meaning.’ Looking to the ‘original public meaning’ of the Fourth Amendment, for example, Judge Gorsuch has rejected the government’s view that a search warrant could be applied across jurisdictional lines. He also disputed its claim that police officers may ignore ‘No Trespassing’ signs to invade a homeowner’s property without a warrant.
“What about the Constitution’s separation of powers, intended to safeguard liberty? Judge Gorsuch has been at the vanguard of applying originalism to the questions raised by today’s Leviathan state, which is increasingly controlled by unaccountable executive agencies. These questions loom large after the rash of executive actions by President Obama, and now the whiplash reversals by the Trump administration.
“The deference that judges now must give to agencies’ interpretations of the law, he wrote in an opinion last year, permits the executive ‘to swallow huge amounts of core judicial and legislative power and concentrate federal power in a way that seems more than a little difficult to square with the Constitution of the framers’ design.’
“Judge Gorsuch added: ‘Maybe the time has come to face the behemoth.’ His addition to the Supreme Court would give the justices a better chance than ever to do precisely that.”

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Taxes Don’t Need to be Reformed, They Need to be CUT

By Ron Paul – Re-Blogged From Eagle Rising

Many Americans who have wrestled with a 1040 form, or who have paid someone to prepare their taxes, no doubt cheered the news that Congress will soon resume working on tax reform. However, taxpayers should temper their enthusiasm because, even in the unlikely event tax collection is simplified, tax reform will not reduce the American people’s tax burden.

Congressional leadership’s one nonnegotiable requirement of any tax reform is “revenue neutrality.” So any tax reform plan that has any chance of even being considered, much less passed, by Congress must ensure that the federal government does not lose a nickel in tax revenue. Congress’s obsession with protecting the government’s coffers causes reformers to mix tax cuts with tax increases. Congress’s insistence on “offsetting” tax cuts with tax increases creates a political food fight where politicians face off over who should have their taxes raised, who should have their taxes cut, and who should have their taxes stay the same.

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The Reality Of It: “Immigration Can NEVER Be An Effective Way To Deal With The Suffering People Of The World”

By Mac Slavo – Re-Blogged From Freedom Outpost

The most oft cited reason by opponents of President Trump’s immigration policies for why America should open its borders to the millions of impoverished and persecuted individuals around the world often center around humanitarian reasons. As a rich country with plenty of land mass, we should be able to take in anyone and everyone who may be in need, right?

While that notion, like Marx-Engels’ ideas for taking from those who have the ability and giving to those who need, may seem great on paper, successfully implementing such policies in the real world is starkly different.

According to Census Bureau statistics, some 1.3 million foreign-born individuals legally immigrated to the United States in 2014. That figure doesn’t include the nearly one million immigrants that enter the country illegally each year. Those who support open border immigration have said that we need to take in even more people.

But according to journalist Roy Beck, taking in one million people per year makes almost no difference in the grand scheme of things because for every million we bring into the United States, another 80 million people yearly are born into countries with extreme levels of poverty, violence or war. According to Beck, even opening our borders to five million more people per year would do nothing to stem the real problems.

In what is one of the most viewed immigration policy videos on the internet from Numbers USA, Beck ingeniously utilizes gumballs to demonstrate why open borders simply will not work. As well, he provides a seemingly novel solution that has for decades fallen on deaf ears:

We never get ahead of what’s happening in these countries… Don’t you see? Immigration can never be an effective or significant way to deal with the suffering people of the world… they have to be helped where they live…

99.9% of them will never be able to immigrate to a rich country… there is no hope for that… they have to bloom where they’re planted… the only place that 99.9% of these people can be helped is where they live… let’s help them there.

In short: taking in millions of immigrants doesn’t even make a dent.

So for those utilizing immigration as justification for violent protests and kinetic civil war, or for those who follow such narratives blindly based strictly on emotions that are devoid of any rational thought, we encourage you to consider the reality of bringing in millions of immigrants from impoverished countries.

And don’t just consider the non-effect of such policies as they relate to the global humanitarian situation, but consider the implications this has on America’s resources, as well as our citizens, who will be burdened with heavy taxation to cover the costs.

Even if we went by the most radical proposals in Washington, which are to actually double our immigration to two million a year… which would totally overwhelm our physical, natural and social infrastructures, we couldn’t even make a visible difference.

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Carnage of the Middle Class

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

In President Donald J. Trump’s inaugural address he promised, “This American carnage stops right here and stops right now.” And immediately liberals and the MSM took umbrage to his use of the word carnage, which means the slaughter of a large number of people, claiming it was just too dark a description for America. Maybe so. However, in a recent Bloomberg commentary, Justin Fox cites some sobering statistics that support Trump’s statement.

While the overall murder rate for the nation should end up increasing about 8% year-over-year, the surge within U.S. cities is absolutely staggering. Chicago suffered a 59% increase in homicides during 2016. Murders were up 56% in Memphis, 61% in San Antonio, 44% in Louisville, 36% in Phoenix and 31% in Las Vegas.

There were also 44,193 suicides in the US in 2015, with the percent increase in suicides rising the most for females aged 10–14, and for males aged 45–64. The suicide rate has risen 24% over the past 15 years and is the highest recorded rate in 28 years.

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CRB Index Deep Dive

By Surf City – Re-Blogged From http://www.Gold-Eagle.com

If you are going to trade the commodity sector, you had best follow the USD, which is why I do.  If I am correct that the USD’s longer 15 Year Super Cycle is toping in 2017, then the CRB will be a fun sector where we will focus.

With respect to Weinstein’s 4 Stage Model, here is a great site that is the best I have found that covers his model quite well.

(4 Stages: 1 = Basing, 2 = Bull, 3 = Toping, 4 = Bear)

http://www.nextbigtrade.com/stage-analysis/

If the USD is topping then inflation will start to show up in the CRB with Gold and Silver leading the way…

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Global Trends, Events And News

By Don Swenson – Re-Blogged From http://www.Silver-Phoenix500.com

Change is in the ‘air’ and 2017 is likely to lead to major changes within our global political/economic/religious/scientific system. People are starting to think about all the various issues which will be emerging all around our planet. The issues are complex and confusing as paradox is a major part of the problem. Our world mostly operates with paradox and contrarian perplexities. Let’s review our global situation briefly for further understanding and comprehension:

Middle-East Situation

The wars and chaos over in the Middle-East are tragic and must eventually be resolved. Thousands have been killed and millions are seeking refuge. Basically, the Islamic countries (within this Middle East territory) do not see eye to eye with Western hegemonic goals and visions. Since the end of WWI this region has been in continuing turmoil…and recent events are now culminating into serious chaos (leading to WW III potentially). Syria is unable to govern itself. Iraq is unable to govern itself. The same goes for Iran, Afghanistan, Libya, Egypt, Yemen, Somalia, Sudan, Gambia, Nigeria, and a host of similar Islamic nations where the rule of law does not work effectively. Leaders cannot solve any of the core political secular problems. The core issues are actually spiritual!

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