Don’t Count On Yield Curve

By Arkadiusz Sieroń – Re-Blogged From Gold Eagle

Are we going to fall into the trap of a self-fulfilling prophecy? Could investors trigger recession only because they are so worried about inversion of the yield curve? We invite you to read our today’s article about the yield curve and find out whether the popularity of the yield curve as an indicator of recession will bring on the recession that everyone is so afraid of.

In the last edition of the Market Overview, we have discussed whether gold investors should worry about the yield curve. Or should they keep their fingers crossed for its inversion? We concluded that not necessarily, as its predictive power has weakened and it doesn’t say anything about the timing of recession.

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Heat Analysis of NOAA Data

By Leland Park – Re-Blogged From WUWT

Given the impending global warming crisis declared by scientists, it should be easy to unambiguously demonstrate the crisis from the instrumental record. Unfortunately, when looking at the  high temperature record for the US, it does not show any warming.

Figure 1 illustrates the incremental changes in surface air temperatures based on year to year differences in station average Tmax. The data is from all active stations in the US Historical Climatology Network (USHCN) from 1895 to 2014.

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What Is Happening To Platinum?

By Clint Siegner – Re-Blogged From Silver Phoenix

You may have noticed the platinum price has fallen well below gold’s price and it continues to underperform the other precious metals. What is happening in the platinum market?

We see a handful of factors driving the recent declines in platinum. For starters, it is facing the same challenges we find in gold and silver prices.

The dollar has been getting stronger, interest rates are rising, and traders on Wall Street have rarely been more carefree. Mainstream investors are positioning for economic strength, not looking for safety.

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Sears Warns It May Go Out of Business

By Thomson Reuters – Re-Blogged From Newsmax

Sears Holdings Corp. reported a smaller decline in quarterly same-store sales, but warned again that there is doubt about the company’s continued operation as it awaits approval to sell some of its businesses to its chief executive’s hedge fund.

“It is imperative that the Company reduce debt, adjust its debt maturity profile and eliminate the associated cash interest obligations,” Chief Executive Edward Lampert said in a blog post on the company’s website.

Fed Employees Who Hate Trump Help Drain Swamp by Leaving

By Michael Barnes – Re-Blogged From Liberty Headlines

ENVIRO-CRAT: ‘I did not want to any longer be any part of this administration’s nonsense…’

President Donald Trump has not only vowed to “Make America Great Again,” but he’s also promised to “Drain the Swamp.”

In regard to the U.S. Environmental Protection Agency, he’s done just that.

US Manufacturers See EPA As The Most In Need Of Regulatory Reform

Photo by TexasGOPVote.com

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Australia’s Banking System May Go BOOM!

By Nick Hubble – Re-Blogged From Silver Phoenix

We’re edging ever closer to the financial crisis I’ve been investigating since 2012. I moved to four different cities in Australia to conduct my research, interviewing mortgage brokers and former bankers over four years.

Over the last few months, a Royal Commission has exposed what my research did back then. But the campaigner who first exposed the issue going back to the early 2000s continues to discover even more extraordinary facts.

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Muslim Migration & Rape Statistics In Europe

By Daniel Greenfield – Re-Blogged From Freedom Outpost

Sweden has one of Europe’s highest rates of sexual assaults.

At 120.79 violent sexual assaults per 100,000 people, and 56 rapes per 100,000, the otherwise bleak socialist country ranks as having the second highest rate of sexual violence in Europe. 

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Even Mortgage Lenders Are Repeating Their 2006 Mistakes

By John Rubino – Re-Blogged From Dollar Collapse

You’d think the previous decade’s housing bust would still be fresh in the minds of mortgage lenders, if no one else. But apparently not.

One of the drivers of that bubble was the emergence of private label mortgage “originators” who, as the name implies, simply created mortgages and then sold them off to securitizes, who bundled them into the toxic bonds that nearly brought down the global financial system.

The originators weren’t banks in the commonly understood sense. That is, they didn’t build long-term relationships with customers and so didn’t need to care whether a borrower could actually pay back a loan. With zero skin in the game, they were willing to write mortgages for anyone with a paycheck and a heartbeat. And frequently the paycheck was optional.

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Empirical Evidence Shows Temperature Increases Before CO2 Increase

By Dr. Tim Ball – Re-Blogged From WUWT

The question is how does the Intergovernmental Panel on Climate Change (IPCC) determine that an increase in atmospheric CO2 causes an increase in global temperature? The answer is they assumed it was the case and confirmed it by increasing CO2 levels in their computer climate models and the temperature went up. Science must overlook the fact that they wrote the computer code that told the computer to increase temperature with a CO2 increase. Science must ask if that sequence is confirmed by empirical evidence? Some scientists did that and found the empirical evidence showed it was not true. Why isn’t this central to all debate about anthropogenic global warming?

The most important assumption behind the hypothesis that human activities are causing global warming is that an increase in global atmospheric CO2 will cause an increase in the average annual global temperature. The assumption became almost the total focus of the IPCC because of the definition of climate change given them by the United Nations Framework Convention on Climate Change (UNFCCC).

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PragerU v Google/YouTube

Re-Blogged From Prager University

For more than two years, YouTube has continued to restrict access to more and more of our videos – simply because they present a conservative point of view. There are currently over 80 PragerU videos that are restricted – more than double the amount of restricted videos since filing our lawsuit against YouTube. Silicon Valley giants like YouTube continue to censor the ideas they don’t agree with. They promote their Leftist ideology and restrict conservative speech.

Help us fight against the censorship of our videos.

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Daytime Naps Could Increase Alzheimer’s Risk

By Lynn Allison – Re-Blogged From Newsmax

New research shows that taking naps during the day could lead to increased plaque development associated with Alzheimer’s disease. According to Interesting Engineering, most experts recommend getting a solid eight hours of sleep each night as the magical number to allow the body to recover, encourage mental clarity and boost the immune system.

However, new data shows that trying to make up for a bad night’s sleep by taking naps could be harmful to your mental health.

Why The Fed Denied The Narrow Bank

By Keith Weiner – Re-Blogged From Gold Eagle

It’s not every day that a clear example showing the horrors of central planning comes along—the doublethink, the distortions, and the perverse incentives. It’s not every year that such an example occurs for monetary central planning. One came to the national attention this week.

A company called TNB applied for a Master Account with the Federal Reserve Bank of New York. Their application was denied. They have sued.

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What Is Net Neutrality?

By Jon Gabriel – Re-Blogged From Prager University

For months, it seemed nearly every media figure was in hysterics over the impending repeal of net neutrality. Then, net neutrality was repealed… and nothing much changed. So what exactly is net neutrality, and why do so many people have such strong opinions about something they don’t understand? Jon Gabriel, editor-in-chief of Ricochet.com cuts through the hysteria to bring you the facts.

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Sea Surface Temperatures Ahead of Hurricane Florence

By Bob Tisdale – Re-Blogged From WUWT

August 2018 Hurricane Region Sea Surface Temperatures, in Advance of the Peak Hurricane Month and Florence Making Landfall, Assuming She Does

September is upon us, and September is the peak month for hurricane activity in the North Atlantic. (See the NOAA Hurricane Climatology graph via Wikipedia.)  So, to check the temperature conditions leading up to the peak month, let’s take a look at the August 2018 sea surface temperatures anomalies and sea surface temperatures for the hurricane development regions—Main Development Region (10N-20N, 80W-20W), Caribbean (10N-20N, 86W-60W), and Gulf of Mexico (21N-31N, 98W-81W)—along with those of the waters along the east coast of the United States (24N-40N, 80W-70W).  For the geographically impaired, see the map here for the locations of those regions.

Note: This is simply a data presentation, so don’t be looking for conclusions at the end of the post.  [End note.]

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Weekly Climate and Energy News Roundup #327

Brought to You by www.SEPP.org The Science and Environmental Policy Project

By Ken Haapala, President

William Happer – New Trump Appointment: According to news reports, William (Will) Happer has begun serving on the National Security Council as the senior director for emerging technologies. Will Happer is the Cyrus Fogg Professor of Physics, Emeritus, of Princeton University. His specialties included atomic physics, optics and spectroscopy. He is one of the pioneers in the field of optically polarized atoms. This research includes how light is used to raise electrons from a lower energy level in an atom or molecule to a higher one – optical pumping.

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Apocalypse, Or Not?

By Alasdair Macleod – Re-Blogged From Silver Phoenix

Members of the American libertarian movement, particularly extremist preppers, are often associated with a belief that a complete breakdown in society is the only outcome from government economic policies and will lead to complete social disintegration. At the centre of their concerns is monetary destruction, with other issues, such as the erosion of personal freedom and the right to bear arms, important but peripheral. They cite history, particularly the hyperinflationary collapses, from Rome to Zimbabwe, and now Venezuela. They draw on Austrian economic theory, which fans their dislike of government and their expectation of total chaos.

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Scientists Discover Why You Procrastinate

By Health Day – Re-Blogged From Newsmax

The inclination to delay things rather than get right to work on them may be hardwired into some people’s brains, and not the product of a flawed character, German researchers suggest.

The findings come from brain scans of 264 men and women.

MRIs revealed that a brain region involved in motivation tends to be larger among people who put things off, while communication between that part of the brain and another involved in taking action appeared to be weaker.

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Global Tree Cover Has Expanded More Than 7 Percent Since 1982

By Ronald Bailey – Re-Blogged From Reason

Global tree canopy cover increased by 2.24 million square kilometers (865,000 square miles) between 1982 and 2016, reports a new study in Nature.

Researchers using satellite data tracked the changes in various land covers to find that gains in forest area in the temperate, subtropical, and boreal climatic zones are offsetting declines in the tropics. In addition, forest area is expanding even as areas of bare ground and short vegetation are shrinking. Furthermore, forests in montane regions are expanding as climate warming enables trees to grow higher up on mountains.

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Record Gold/Silver Shorts!

[The latest week, reported after this essay was written, makes this case even more bullish. -Bob]

By Adam Hamilton – Re-Blogged From Gold Eagle

Gold and silver were thrashed this past summer, relentlessly pounded to deep new lows.  That has fueled extreme bearishness, with traders convinced the precious metals’ fundamentals are rotten.  But epic all-time-record futures short selling by speculators was the real culprit.  These unprecedented shorts must soon be covered with proportional buying, which is super-bullish for gold and silver prices in the coming months.

Traders generally assume fundamentals drive short-term price action, that real imbalances in supply and demand push prices to market-clearing levels.  Unfortunately these core underlying dynamics are heavily distorted in gold and silver.  Futures speculators who never own these precious metals are able to wield wildly-disproportional outsized influence over their prices.  The main reason is extreme leverage inherent in futures.

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Early Results Boost Hopes for Historic Gene Editing Attempt

By Associated Press – Re-Blogged From Newsmax

Early, partial results from a historic gene editing study give encouraging signs that the treatment may be safe and having at least some of its hoped-for effect, but it’s too soon to know whether it ultimately will succeed.

The results announced Wednesday are from the first human test of gene editing in the body, an attempt to permanently change someone’s DNA to cure a disease — in this case, a genetic disorder called Hunter syndrome that often kills people in their teens.

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After a Collision in Doklam, India and China Are Correcting Course

By Sarang Shidore Senior Global Analyst, Stratfor

Sarang Shidore

Re-Blogged From Stratfor

Highlights

  • Tensions between India and China have relaxed considerably since their armies faced off on the Doklam Plateau in the summer of 2017.
  • This change is a result of setbacks to Indian foreign policy and a more difficult global strategic environment for China.
  • Despite a return to limited cooperation, India will continue to see China as its biggest geopolitical rival, though it will compartmentalize its adversarial relationship.
  • India will continue to build up its military and establish new bilateral security ties to counter China, but it will also refrain from joining any anti-China military bloc, will soften its strident opposition to the Belt and Road Initiative and increase participation in Chinese-dominated multilateral initiatives.

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Climate-Change Derangement Syndrome: Undermining Science and Demonizing Skeptics

By Vijay Jayaraj – Re-Blogged From WUWT

Trump Derangement Syndrome (TDS) is fairly popular. Even people in far eastern countries like India and Australia know about it.

But little do we hear about Climate-Change Derangement Syndrome (CCDS) and another new syndrome emerging from it.

CCDS is a behavioral pattern in which a section of our society responds irrationally to any trend in global temperatures that contradicts its narrative of a dangerous rise in global temperatures, without regard to the actual data.

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Voters in Mid-Term Elections Report Watching Their Ballots Mysteriously Switch to Other Candidate

By Matt Agorist – Re-Blogged From Freedom Outpost

Savannah, GA — A rather shocking, but not surprising report this week out of Georgia reveals the unsettling state of America’s election and voting system. Voters in Georgia are now reporting that after they confirm their votes, they watch on the screen as their ballots mysteriously switch to the opposite candidate.

Later this month, a federal judge will hear the case against the Georgia government for their utter failure at maintaining sound election processes and their lack of maintaining a paper ballot record as well.

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Jobless Claims Fall to Near 49-Year Low

By Thomson Reuters – Re-Blogged From Newsmax

The number of Americans filing new claims for unemployment aid fell to near a 49-year low last week and private payrolls rose steadily in August, pointing to sustained labor market strength that should continue to underpin economic growth.

The economy so far appears to be weathering an escalating trade war between the United States and China as well as tensions with other trade partners, including Canada, the European Union and Mexico, which have rattled financial markets.

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Time is Running Out to Save the Paris Climate Accord

By Anthony Watts – Re-Blogged From WUWT

Newsbytes from around the web (h/t to Climate Dispatch)

Time is running out to save the Paris Agreement, UN climate experts warned Tuesday at a key Bangkok meeting, as rich nations were accused of shirking their responsibility for environmental damage. If nations cannot reach an agreement by a December summit in Poland—known as COP24—the Paris Agreement, carved out in 2015, will be at risk. Money is at the heart of the issue. —AFP, 4 September 2018

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Tesla Stock Plunges Amid Executive Defections, Musk Smoking Pot

By Thomson Reuters – Re-Blogged From Newsmax

Tesla Inc. shares fell nearly 9 percent on Friday as the resignation of its chief accounting officer after just a month at work spooked investors amid another social media storm around billionaire chief executive Elon Musk.

The company, hurt in the past month by Musk’s high-profile U-turn on a deal to take it private, said Chief Accounting Officer Dave Morton had resigned, citing discomfort with the level of public attention and pace of work.

California Passes 100% Renewable Power By 2045 Bill

By David Middleton – Re-Blogged From WUWT

California may be done waiting for everyone else to get their act together on climate change.

Earlier this week, by a vote of 44 to 33, the state Assembly passed a bill that would require California to get 100 percent of its electricity from renewables by 2045. An equivalent measure already passed the state Senate. A whopping 72 percent of Californians support the measure. All that’s left is for Gov. Jerry Brown (D) to sign the bill. And he’s expected to do so.

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Almost Earth-like, We’re Certain

By Kip Hansen – Re-Blogged From WUWT

There has been a lot of news recently about exoplanets. An extrasolar planet is a planet outside our solar system.  The Wiki article has a list of exoplanets.  I only mention exoplanets because there is a set of criteria for specifications of what could turn out to be an “Earth-like planet”, of interest to space scientists, I suppose, as they might harbor “life-as-we-know-it” and/or be a potential colonization target.

One of those specifications for an Earth-like planet is an appropriate average surface temperature, usually said to be 15 °C.  In fact, our planet, Sol 3 or simply Earth, is very close to qualifying as Earth-like as far as surface temperature goes. Here’s that featured image full-sized:

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Trade Gap Widens Most Since 2015 as China Deficit Hits Record

By Bloomberg – Re-Blogged From Newsmax

The U.S. trade deficit widened in July by the most in three years and the gap with China hit a record as the Trump administration imposed tariffs on a range of Chinese goods, prompting retaliatory levies from Beijing.

The gap increased 9.5 percent to $50.1 billion, the biggest since February, from a revised $45.7 billion in the prior month, Commerce Department data showed Wednesday.

Exports fell 1 percent, driven by steep drops in shipments of aircraft and soybeans, while imports rose 0.9 percent in a broad-based gain.

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Climate is Not the Only Limit to Agriculture

By Dr. Tim Ball (Adaptation of article in The Landowner) – Re-Blogged From WUWT

“Agriculture… is the first in utility, and ought to be the first in respect.” Thomas Jefferson

“There are no farms in the cities, but there are no cities without farms.” Tim Ball

There are marked differences between the atmosphere and nature of the environment between the city and the countryside. Unfortunately, because they are unknown or ignored by most academics, bureaucrats, and politicians, they threaten the very basis of society through bad policy. The disconnect between urban and rural extends to almost everything about living in the real world. As people moved to cities, they quickly forgot about the land and nature. Their views, perceptions, and concerns changed. For example, I listen to the weather forecast, and it editorializes about ‘good weather.’ They then predict hot and sunny days to the delight of the urbanite, when the farmers need rain. I remember one summer that urban dwellers thought was terrible, but the farm community thoroughly enjoyed it. Almost like clockwork it was sunny all week and rained every weekend. It became an urban joke. “What day is it after two days of rain – Monday. What do you call it is if it rains on Monday – a long weekend.”

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An Open Letter About Climate to U.S. Politicians Running for Office in 2018

By Bob Tisdale – Re-Blogged From WUWT

Honorable Ladies and Gentlemen:

I suspect many of you have been and will be using global warming and climate change as issues during your campaigns this election year. Let me call attention to a quote from revered British Prime Minister Margaret Thatcher’s 2002 book Statecraft: Strategies for a Changing World.

It may be the first time you’ve read this quote, but I believe some of you may use it or hear it a good number of times between now and election day. From Statecraft, under the heading of HOT AIR AND GLOBAL WARMING, which is part of Chapter 11 Capitalism and its Critics, Margaret Thatcher wrote (my boldface and ellipses):

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A Pound of Cure

By Peter Schiff – Re-Blogged From Euro Pacific Capital

This week, as investors and economists fixate on record highs set by major stock market indices, they have ignored much more significant developments that emerged from the Federal Reserve’s annual meeting in Jackson Hole, Wyoming. Fed Chairman Jerome Powell delivered a speech that somehow was almost universally interpreted as a reiteration of his commitment to continue to raise rates throughout the next few years. “Steady as she goes” was the takeaway from just about any news outlet. But the Chairman’s actual message was essentially the opposite of what the media reported. From my perspective, it provided evidence that President Trump has succeeded in getting Powell’s mind right on the need for the Fed to continue to stimulate the economy, no matter how much evidence emerges that it is already over-stimulated.

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Argentina Currency Crisis Pain Is Spreading

By Bloomberg – Re-Blogged From Newsmax

Tommy Samson is explaining why he’s been forced to scale back business amid Argentina’s financial-market rout. His Buenos Aires firm imports surgical equipment such as sutures for stitching wounds, paying in foreign currency. Then he sells them to local customers in pesos.

The last link in that chain is breaking down — because Argentina’s currency is in freefall. It’s lost half its value this year, and some 20 percent this week alone. The slump threatens to spread havoc through the $640 billion economy, rupturing supply chains for businesses and straining the finances of households.

And it’s casting a shadow over President Mauricio Macri’s prospects of winning re-election next year. Even Argentina’s most market-friendly leader in more than a decade has struggled to restore investor confidence.

Image: Argentina Currency Crisis Pain Is Spreading
(Dreamstime/Siempreverde22)

“There’s no clear price reference after the peso plunge.”

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The Deceivers in Democracies: Beware the Propagandists.

By tonytran2015 (Melbourne, Australia) – Re-Blogged From Survival Tricks

The propagandists are people spreading their propaganda for their vested interest.

In our lives we always encouter them either as lowly conmen or as well disguised respectable debaters or laws makers. It is still possible to spot them if we know their method of work.

(Click here for a full, up to date ORIGINAL ARTICLE and to help fighting the stealing of readers’ traffic.)

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California Assembly Advances Pipe Dream 100% Clean Electricity Bill

By Larry Hamlin — Re-Blogged From WUWT

The L. A. Times reported that the California Assembly voted out a bill requiring that the states electricity will be 100% clean energy by the year 2045.

Additionally SB 100 would also require that renewable energy targets for California be raised from 50% to 60% by year 2030.

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Unaffordable Green Energy: Charity Begs for More Volunteer Knitters, to Help Poor People Survive Winter

By Eric Worrall – Re-Blogged From WUWT

h/t JoNova – According to the charity KOGO, green energy champion Victora, Australia is experiencing unprecedented demand for charity provided warm woolies to help poor people who can no longer afford to heat their homes.

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America’s Student Loan Debt Bubble

By Michael Snyder – Re-Blogged From Freedom Outpost

Higher education has become one of the biggest money-making scams in America.  We tell all of our young people that if they want to have a bright future, they must go to college.  This message is relentlessly pounded into their heads for their first 18 years, and so by the time high school graduation rolls around for many of them, it would be unthinkable to do anything else.  And instead of doing a cost/benefit analysis on various schools, we tell our young people to go to the best college that they can possibly get into and to not worry about what it will cost.  We assure them that a great job will be there after they graduate and that great job will allow them to easily pay off any student loans that they have accumulated.  Of course, most college graduates don’t end up getting great jobs, but many of them do end up being financially crippled for decades by student loan debt.

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COLLUSION: Climate Campaigners and State Attorney General Offices

By Anthony Watts – Re-Blogged From WUWT

CEI Report Details Campaign to Privately Fund State Attorney General Offices to Advance Climate Change Legal Positions

The Competitive Enterprise Institute (CEI) today released a report, “Law Enforcement for Rent,” detailing how activist donors are paying to place prosecutors in state attorney general offices to pursue an expressly partisan agenda.

According to the author, CEI Senior Fellow Chris Horner, private interests underwriting the law enforcement power of the state raises ethical, constitutional, and other legal questions.

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Why I Don’t Deny – Part 2

By Kip Hansen – Re-Blogged From WUWT

Note:  Please read Part 1 before reading this — this is a continuation of that essay (a rather long continuation….)

The last point I made in Part 1 of this essay was this:

The IPCC in their synthesis report for policy makers says that human emissions of greenhouse gases [“atmo­spheric concentrations of carbon dioxide, methane and nitrous oxide”]  and “other anthropogenic drivers,” are  “extremely likely to have been the dominant cause of the observed warming since the mid-20th century.”

climate_denial_Part-2_yello

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Elephants’ Biology May Hold Key to Understanding Alzheimer’s

By Lynn Allison – Re-Blogged From Newsmax Helth

We all know the saying that “elephants never forget.” Well there could be a very good reason why they maintain magnificent memories.

According to an article in Fortune magazine, elephants may hold the key to unlocking the secret cause of Alzheimer’s disease.

Currently, the research varies. Some experts believe that it’s the beta-amyloid proteins that drive the disease by sticking to and eventually killing neurons. Others point to the neurofibrillary tangles, or twisted tau proteins, that accumulate between the neurons in the brain. And many says that both these factors come into play to cause this devastating disease that’s the sixth leading cause of death in America.

Money, Fake Money, And Sound Money

By JP Cortez – Re-Blogged From Gold Eagle

Americans no longer carry gold and silver money in our pockets and purses as our grandparents did. But we still carry the history, legacy, and spirit of those gold and silver coins in our language.

“Sound money” embodies a clear message recognized for centuries around the world. It describes the musical, metallic ring of a gold, silver, or copper coin dropped on any hard surface of glass, stone, wood, or metal.

Sound money literally refers to real wealth, with a natural, unmistakable signature of authenticity, as opposed to the paper, plastic, and electronic debt instruments used almost exclusively today.

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Why I Don’t Deny – Part 1

By Kip Hansen – Re-Blogged From WUWT

climate_deanial_yellowI have often been asked “Why do you deny climate change?”  I am always stumped by the question.  It is rather like being asked “Why do you torture innocent animals?”  The questioner is not merely asking for information, they are always making an accusation — an accusation that they consider very serious and a threat to themselves and others.

The reason it stumps me is that, as you have guessed already, I do not deny climate change (and I do not torture innocent animals — nor even guilty ones).  And there is nothing about me or my behavior, present or past, that I am aware of, that would lead any reasonable person to think such a thing of me.

I am thoroughly guilty though of being very skeptical of what is generally referred to as the Climate Consensus — usually said to be represented by the latest reports and policy recommendations put out by the Intergovernmental Panel on Climate Change (IPCC) and its supporters; political, ideological and scientific.  I suppose it is this that leads to the false accusation of “denying climate change”.

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Google, Facebook, Amazon May Be ‘Antitrust Situations’

By Bloomberg – Re-Blogged From Newsmax

President Donald Trump, stepping up his criticism of technology firms he says are favoring liberal points of view, said they may be in a “very antitrust situation” but repeatedly said he can’t comment publicly on whether they should be broken up.

“I won’t comment on the breaking up, of whether it’s that or Amazon or Facebook,” Trump said in an Oval Office interview Thursday with Bloomberg News. “As you know, many people think it is a very antitrust situation, the three of them. But I just, I won’t comment on that.”

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Saving Venezuela

   By Bob Shapiro

Venezuela used to be a relatively rich country. Today, it has a nominal GDP around $100 Billion, a population around 32 million, a labor force of 14 million, and unemployment over 30%. GDP fell last year by 14%, and inflation is so high that official statistic are meaningless. 87% of the population is described as living below the poverty line.

Through the many recent years of socialism in Venezuela, the government has racked up deficits and debt that defy reality. With recent low oil prices, and government mismanagement of the industry, revenues have fallen so much that, if the Central Bank didn’t print money with wild abandon, the government would have had to declare bankruptcy long ago.

Image result for venezuela

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California and the LA Times Latest Climate Alarmist Absurdities

By Larry Hamlin – Re-Blogged From WUWT

An L. A. Times story addressed climate alarmist claims made in a report by the State’s Natural Resources Agency hyping its dire speculation and conjecture based on “climate models” whose “projections” we are supposed to believe represent real world outcomes.

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“The PetroDollar Matrix”

At the forefront of the media’s attention today is Russia. We’re not really sure why, (well, of course we are) but it seems that Russia has become the new boogeyman. Everything is Russia’s fault. I’ve even heard rumors that the National Weather Service has plans to blame Russia for all the confounded rain in the Northeast and Mid-Atlantic this summer. We know – right away you’re thinking this is going to be about Russia but it’s really not. It’s about what the media isn’t telling you. It’s why (we believe), Trump’s Tweets, Ivanka’s Sweets, Russiagate, the left’s hate, the right’s hate (aka, establishment theatre) are all taking the headlines while a very disturbing trend is left in plain sight. It’s the 800-pound gorilla in the room during any discussion involving economics and geopolitics, but nobody wants to talk about it.

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The Modern Automobile Must Die

By Anthony Watts – Re-Blogged From WUWT

New Republic Mag: ‘The Modern Automobile Must Die’ – ‘If we want to solve climate change, there’s no other option’

Excerpts:

‘Transportation is now the largest source of carbon dioxide emissions in the United States’

‘In 2010, a NASA study declared that automobiles were officially the largest net contributor of climate change pollution in the world.’

‘The power generation sector may have emitted the most greenhouse gases in total. But it also released so many sulfates and cooling aerosols that the net impact was less than the automobile industry, according to NASA.’

The problem is that most automakers seek to meet those requirements by developing electric cars. If those cars are charged with electricity from a coal-fired power plant, they create “more emissions than a car that burns petrol,” energy storage expert Dénes Csala pointed out last year.

“For such a switch to actually reduce net emissions, the electricity that powers those cars must be renewable.”

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