Weekly Climate and Energy News Roundup #376

The Week That Was: September 14, 2019, Brought to You by www.SEPP.org

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

Quote of the Week – “If by the liberty of the press were understood merely the liberty of discussing the propriety of public measures and political opinions, let us have as much of it as you please: But if it means the liberty of affronting, calumniating and defaming one another, I, for my part, own myself willing to part with my share of it.” —Benjamin Franklin (1789)

Number of the Week: UP 24%


 

Climate Model Issues – Greenhouse Feedbacks: Prior to the 1979 Charney Report, numerous laboratory experiments established that a doubling of carbon dioxide (CO2) would cause a modest increase in global temperatures, nothing of great concern. The Charney Report states that advocates of global climate models, mainly NASA-GISS and NOAA’s Geophysical Fluid Dynamics Laboratory at Princeton advocated that a positive feedback, mainly from water vapor from the oceans would result in a far greater warming, which was estimated to be 3º C plus or minus 1.5º C. The last paragraph of the report, Section 4 – Models and Their Validity states:

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China, US to Hold Trade Talks in October

By Reuters – Re-Blogged From IJR

China and the United States on Thursday agreed to hold high-level talks in early October in Washington, boosting markets as investors hoped for a thaw in the trade war between the world’s two largest economies that has taken a toll on global growth.

The meeting was arranged during a phone call between Chinese Vice Premier Liu He and U.S. Trade Representative Robert Lighthizer and U.S. Treasury Secretary Steven Mnuchin, China’s commerce ministry said in a statement on its website. China’s central bank governor Yi Gang was also on the call.

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Is Your Freight Prepared for Brexit?

By Alina Grace of Haulystic Innovations

Aren’t you getting frustrated listening to different scenarios about Brexit every day? Brexit is around the corner and we still do not have a clear picture on what is going to happen to UK and the world after the 31ST of October, 2019. Logistics is an industry that has adapted to economic and political changes throughout the years.

So, why do we worry about Brexit?

Is the fact that United Kingdom will leave the EU, with or without a deal, so important that will change the landscape of the global supply chain services forever?

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Trump and Johnson Add Unpredictability to French Summit

[Related: Trump offered to buy Greenland from Denmark whose Prime Minister said th idea was “absurd.” -Bob]

By Reuters – Re-Blogged From IJR

Brexit Britain’s overtures to U.S. President Donald Trump risk further complicating the search for common ground this weekend at a Group of Seven summit already clouded by transatlantic rifts over trade, Iran and climate change.

The summit host, President Emmanuel Macron of France, has set the bar low for Biarritz to avoid a repeat of the fiasco last year when Trump threw Canada’s G7 summit into disarray by leaving early, scotching the final communique.

Macron, an ardent europhile and staunch defender of multilateralism, will count on incremental advances in areas where a united front can be presented, with the meeting, which runs from Saturday to Monday, officially focusing on the broad theme of reducing inequality.

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When will we win? Chinese trade victory is a mirage.

By David Haggith – Re-Blogged From The Great Recession Blog

The following is my recent argument with yet one more market analyst who can’t see straight, even when his article overall was admitting it was time to bail out of stocks. Correcting the market mantras that dominate the bullheaded is partly why I am here.

I’m not going to call this one out of the herd by name because sometimes his writing is sensible. It is the group-think herd mentality of the bulls, which he expresses, that I am challenging. His writing is in quotes and my responses to his way of thinking follow each quote.

I lay it out here because somehow it still surprises me to see how vapid the wasteland of popular thought can be even when analysts finally reach the point of giving up on stocks. I actually sometimes enjoy reading this author, but this article demonstrates the typical delirious thinking that pervades market commentary everywhere all the time in what is a virtual desert of economic analysis. So, I’m going to dissect it for you as an example of just how full of denial so much market commentary is:

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A Long Shadow Creeps Over The Economy This Summer

By David Haggith – Re-Blogged From Gold Eagle

It’s time to turn around and see the darkness that the Fed sees looming over you. Earnings season is already extending signs of recession with the first corporate reports coming in far darker than expectations that were already twilight dim in FactSet’s estimations, which pegged earnings as likely to show a 2% contraction.

Even the Fed sees problems ahead. Jerome Powell’s speech to congress has been called “one of the most dovish Fed speeches ever!” While that quickened the heart of a sugar-hungry stock market, what does it really tell you about how soon or likely the Fed sees recession looming for the economy or sees trouble for the stock market? Why else would Father Fed suddenly become the “most dovish … ever?” Does the Fed become its “most dovish … ever” when the economy and the stock market are doing great?

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Cleaning Up After The China Trade Summit

By David Haggith – Re-Blogged From Silver Phoenix

That didn’t take long. On Saturday, well before the US stock market opened post-China-trade-talks, I wrote:

The next step for the market would likely be that the remaining stock indices that have not pushed past their own previous peaks would now punch through. By that … I meant those indices like the Dow that were very close to breaking past their old heights

Best-Case Scenario Has a Worst-Case Twist

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