We Should Ditch GDP As A Measure Of Economic Activity

By Alasdair Macleod – Re-Blogged From Silver Phoenix

This article exposes the false economic concepts behind GDP, which is only the visible tip of a large iceberg of economic deceit. Describing an increase in GDP as economic growth owes its meagre validity to imprecise definition. An economy does not grow, only the quantity of fiat currency deployed grows. A successful economy progresses our condition, our wealth, our standards of living. The evolution of misleading statistics such as GDP to their current condition is only governed by their usefulness to governments, not as an objective development of sound theory by seekers of truth.

There are perhaps two plausible reasons for producing the GDP statistic, other than employing statisticians, and both have nothing to do with economics. By compiling the figures, a government keeps track of its tax base, and it can enter into the game of my-country-is-bigger-than-yours.

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Marine Le Pen Ordered To Take Psychiatric Tests For Opposing Jihad Terror

By Robert Spncer – Re-Blogged From Freedom Outpost

You thought it would stop with the defaming and deplatforming of foes of jihad terror? No. Soviet-style judgments of insanity are next. And what will come after that? The answer is clear enough.

The Local reported Thursday that French “far right” (i.e., opposed to mass Muslim migration and French cultural and political suicide) leader Marine Le Pen has been ordered by a French court to undergo a psychiatric examination in order to discover whether or not she “is capable of understanding remarks and answering questions.”

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The Costs and Fallibility of UK Weather Dependent Renewables

By Ed Hoskins – Re-Blogged From WUWT
The Weather Dependent Renewables industry has deluded itself, its Green politcal supporters and defrauded the public at large, by not admitting to the detrimental impact of the massive capacity and thus performance / cost differentials between Weather Dependent Renewables and reliable fossil fuel or nuclear power generation.

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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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John Law – 300 years On

By Alasdair Macleod – Re-Blogged From Gold Eagle

Most people are aware that historically there have been speculative bubbles. Some of them can even name a few – the South Sea bubble, tulips, and more recently dot-coms. Some historians can go even further, quoting the famous account by Charles Mackay of the South Sea bubble, the tulip mania and the Mississippi bubble, published in the mid-nineteenth century.

The most valuable bubble empirically for the purpose of our elucidation has to be the Mississippi bubble, whose central figure was John Law. Law, a Scotsman whose father’s profession was as a goldsmith and banker in Edinburgh, set up an inflation scheme in 1716 to rescue France’s finances. He proposed to the Regent for the infant Louis XIV a scheme that would be based on a new paper currency.

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What If India And China Used Natural Gas And Oil Like The U.S.?

By David Middleton, petroleum geologist – Re-Blogged From WUWT

From Forbes

JUN 17, 2018

What If India And China Used Natural Gas And Oil Like The U.S.?

Jude Clemente , CONTRIBUTOR

BP’s just releasedStatistical Review of World Energy 2018 has got my wheels turning. The first thing you should know is that global energy consumption has essentially just begun: around 85% of the global population – 6 in every 7 humans – still lives in developing nations. They don’t live in rich cities, like San Francisco, Toronto, New York City, Los Angeles, London, or Tokyo; they live in poorer ones, like Mumbai, Lagos, Jakarta, Guangzhou, Calcutta, and Karachi. This is where the future energy action is man: at least 90% of future demand will be in nations that are currently not developed. We rich, “all the energy that we want at our fingertips” Westerners still aren’t grasping a sad and cold reality: most of the world is poor and energy deprived.

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2018 Third-Quarter Forecast

Re-Blogged From Stratfor

Table of Contents

(ALY SONG-POL/JOHANNES EISELE/HULTON ARCHIVE/MLADEN ANTONOV/TIMOTHY A. CLARY/ABID KATIB/KATJA BUCHHOLZ/DAVID MCNEW/ATTA KENARE/FOverview

China Remains in the U.S. Crosshairs. The United States will impose tariffs, sanctions and blocks on investment and research in a bid to frustrate China’s development of strategic technologies. China not only has the tools to manage the economic blow, but will also accelerate efforts to lessen its reliance on foreign-sourced technological components.

Trade Battles Fall Short of a Full-Fledged War. Trade frictions will remain high this quarter as the White House continues on an economic warpath in the name of national security. U.S. tariffs will invite countermeasures from trading partners targeting U.S. agricultural and industrial goods. As Congress attempts to reclaim trade authority, the White House will refrain from escalating these trade battles into an all-out trade war.

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