Tariffs Are Having A Bigger Effect On US Manufacturing Than Initially Thought

By Frank Holmes – Re-Blogged From Gold Eagle

The U.S. manufacturing sector contracted for the fifth straight month in December, with the monthly reading from the Institute for Supply Management (ISM) hitting its weakest point in more than 10 years. The purchasing manager’s index (PMI) fell to 47.2, a level we haven’t seen since June 2009, as global trade tensions continued to take a toll on the country’s manufacturers.

The news comes as two new papers indicate that U.S. tariffs on imported goods, particularly those originating in China, have had more of an impact on manufacturing and industrial output than initially believed.

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Is the Monetary Reset at Hand

By Chris Powell, Money Metals News Service – Re-Blogged From Headline Wealth

For most of this decade owning gold and gold-related investments has required the patience of Job, and the sector is so obscure that it is hard to be sure of anything.

But for months now the unusual developments have been piling up so much that it may be possible to regain some optimism.

There are indications of a shortage of metal not just at the New York Commodities Exchange, where for months now most contracts have been settled through a supposedly “emergency” procedure called “exchange for physicals,” but also in London, the hub of the world gold market, where the usual flow of metal to Switzerland recently reversed, with metal flowing back to London amid increasing demand.

This corresponded with announcements of gold acquisitions by central banks that had not shown any interest in gold.

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Weekly Climate and Energy News Roundup #391

The Week That Was: December 21, 2019, Brought to You by www.SEPP.org

By Ken Haapala, President, Science and Environmental Policy Project

Quote of the Week: “Collective fear stimulates herd instinct, and tends to produce ferocity toward those who are not regarded as members of the herd.” ― Bertrand Russell, Unpopular Essays

Number of the Week: 1/1,000,000,000,000 (One part per Trillion)

The Greenhouse Effect – With Clouds: The CO2 Coalition has published a paper by Richard Lindzen addressing climate sensitivity trying to explain why US climate models do so poorly when tested against observations from nature. Until climate models can describe what is occurring in the atmosphere today, there is no reason to accept projections / predictions from such models about the future. Lindzen’s approach to the problem is different from those by Wijngaarden & Happer, and Roy Spencer discussed in the previous two TWTWs.

Among other things, Lindzen includes the influence of high-level cirrus clouds, which form above the tropopause, where water vapor freezes out. As Lindzen states:

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China Expects Its “Artificial Sun” to Be Operational in 2020

Going Smoothly

In March, Chinese researchers predicted that the nation’s HL-2M tokamak — a device designed to replicate nuclear fusion, the same reaction that powers the Sun — would be built before the end of 2019.

No word yet on whether that’s still the case, but in November, Duan Xuru, one of the scientists working on the “artificial sun,” did provide an update, saying that construction was going smoothly and that the device should be operational in 2020 — a milestone that experts now tell Newsweek could finally make nuclear fusion a viable energy option on Earth.

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U.S.-China Trade Deal Cuts Tariffs for Beijing Promise of Big Farm Purchases

By Reuters – Re-Blogged From IJR

The United States and China cooled their trade war on Friday, announcing a “Phase one” agreement that reduces some U.S. tariffs in exchange for what U.S. officials said would be a big jump in Chinese purchases of American farm products and other goods.

Beijing has agreed to import at least $200 billion in additional U.S. goods and services over the next two years on top of the amount it purchased in 2017, the top U.S. trade negotiator said https://ustr.gov/sites/default/files/US-China-Agreement-Fact-Sheet.pdf Friday.

REUTERS/Aly Song

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Weekly Climate and Energy News Roundup #389

The Week That Was: December 7, 2019, Brought to You by www.SEPP.org

By Ken Haapala, President, Science and Environmental Policy Project (SEPP)

Quote of the Week: The real problem in speech is not precise language. The problem is clear language. The desire is to have the idea clearly communicated to the other person. It is only necessary to be precise when there is some doubt as to the meaning of a phrase, and then the precision should be put in the place where the doubt exists. It is really quite impossible to say anything with absolute precision, unless that thing is so abstracted from the real world as to not represent any real thing.” – Richard Feynman (New Textbooks for the “New” Mathematics)

Number of the Week: Minus 89,000. Down from plus 13,442,000 b/d

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