Gold Green-Lights Miners

By Adam Hamilton  – Re-Blogged From Gold Eagle

The gold miners’ stocks are finally perking up again, after spending months slogging through a grinding correction.  Contrarian traders are taking notice, starting to redeploy capital in this high-potential sector.  Gold miners’ earnings and thus stock prices are overwhelmingly driven by gold’s fortunes.  And the yellow metal’s recent technicals are signaling a mature correction, green-lighting gold stocks’ next major upleg.

Bull markets are an alternating series of uplegs followed by corrections, for every few steps forward there is always one step back.  These periodic selloffs are essential for bulls’ health and longevity, rebalancing sentiment and technicals before they get too overheated.  Popular greed growing too extreme early in bulls will prematurely slay them.  All available near-term buying is sucked in, exhausting capital inflows and upside.

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The Climate Model Muddle

By Ed Zuiderwijk – Re-Blogged From WUWT

This is a posting about the epistemology of climate models, about what we can learn from them about the future. The answer will disappoint: not much. In order to convince you of the veracity of that proposition I will first tell you a little story, an allegory if you want, regarding a thought experiment, a completely fictitious account of what a research project might look like, and then apply whatever insight we gained (if any) to the climate modelling scene.

A thought experiment

Here’s the thought experiment: We want to make a compound that produces colour somehow (the mechanism how it does that is not really relevant). However, we specifically want a well-defined colour, prescribed by whatever application it is going to be used for. Say a shade of turquoise.

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The CDC confirms remarkably low coronavirus death rate.

Most people are more likely to wind up six feet under because of almost anything else under the sun other than COVID-19.

The CDC just came out with a report that should be earth-shattering to the narrative of the political class, yet it will go into the thick pile of vital data and information about the virus that is not getting out to the public. For the first time, the CDC has attempted to offer a real estimate of the overall death rate for COVID-19, and under its most likely scenario, the number is 0.26%. Officials estimate a 0.4% fatality rate among those who are symptomatic and project a 35% rate of asymptomatic cases among those infected, which drops the overall infection fatality rate (IFR) to just 0.26% — almost exactly where Stanford researchers pegged it a month ago.

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Reassessing the RCPs

By Kevin Murphy – Re-Blogged From WUWT

A response to: “Is RCP8.5 an impossible scenario?”. This post demonstrates that RCP8.5 is so highly improbable that it should be dismissed from consideration, and thereby draws into question the validity of RCP8.5-based assertions such as those made in the Fourth National Climate Assessment from the U.S. Global Change Research Program.

Analyses of future climate change since the IPCC’s 5th Assessment Report (AR5) have been based on representative concentration pathways (RCPs) that detail how a range of future climate forcings might evolve.

Several years ago, a set of RCPs were requested by the climate modeling research community to span the range of net forcing from 2.6 W/m2 to 8.5 W/m2 (in year 2100 relative to 1750) so that physics within the models could be fully exercised. Four of them were developed and designated as RCP2.6, RCP4.5, RCP6.0 and RCP8.5. They have been used in ongoing research and as the basis for impact analyses and future climate projections.

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