Daily Digest

Daily Digest - December 5

Saturday, December 5, 2009, 11:09 AM
  • Six More Banks Seized
  • What Lurks Beneath
  • Worse Than Enron
  • Big Bank Bonuses Make Failure More Likely
  • The End Of Audacity
  • Taxes, Taxes Everywhere
  • Exec Pleads Guilty To Bribing Pension Officials
  • The Education Crisis: A Sign Of Things To Come
  • Leaner, Meaner Workplace For Years To Come
  • The Amazing Labor Market Switcheroo
  • India's Next Major Global Export
  • Eight-Country Report Outlines Fossil-Fuel Industry Sabotage Campaign
  • Larger Effort To Try And Discredit Climate Science
  • Tracing 'Researchers' And 'Academics' Back To Fossil-Fuel Industry
  • Cabinet Meeting On Mt Everest Highlights Melting Himalayan Glaciers
  • The Tragedy Of The Himalayas
  • The Great Thaw In Shishmaref, Alaska
  • America's Chefs Turning To Sustainable Local Sourcing For Food

Economy

Six More Banks Seized (M.W.)

Bringing the tally of failures to 130 this year as the bank industry continues to suffer under the weight of deteriorating loans. Small banks are expected to continue to fail at an elevated pace through next year.

What Lurks Beneath (M.W.)

At first glance, banks seem to be recovering nicely from the financial crisis. But investors cheered by optimistic earnings reports could soon face a painful surprise.

Worse Than Enron (M.W.)

Enron got away with their illegalities so long because their financials were so complicated that not even the analysts paid to monitor them could cogently explain how they were making so much money. The nation’s biggest banks have been moving stuff around their balance sheets like a multi-billion dollar musical chairs game. After 2 wks sifting through over 1000 pages of SEC filings for the largest banks, I have the same concerns.

Big Bank Bonuses Make Failure More Likely (M.W.)

If the Royal Bank of Scotland’s board have genuinely threatened to resign over the right to pay £1.5 billion of bonuses, they should be asked to do so immediately.Their mass resignation would offer the Government a golden opportunity to correct all the managerial mistakes it made when it took over RBS and the other banks in the heat of last year’s crisis.

The End Of Audacity (M.W.)

"What people understand that policymakers in Washington don't is that there's a real belief out there that all government does is waste money."

Taxes, Taxes Everywhere (M.W.)

Speeders doing more than 85 mph in Georgia will soon pay an additional $200 in fines. Racehorse owners in New York now must fork over $10 to enter their steeds in events. And Massachusetts started charging a 5% tax on broadcast satellite service.These measures are part of a record $23.9 billion in tax and fee hikes and $7.7 billion in other revenue increases.

Exec Pleads Guilty To Bribing Pension Officials (M.W.)

A venture capitalist pleaded guilty to charges that he helped his company land a lucrative deal with NY's public pension fund by giving nearly $1 million worth of illegal gifts to four high-level officials in the comptroller's office. The state invested $250 million in Markstone after Elliot Broidy showered them with gifts and favors, including trips and payouts to friends and relatives.

The Education Crisis: A Sign Of Things To Come (M.W.)

Whether you're an oppressive foreign dictatorship or an American state in the process of committing fiscal suicide, you know you're losing the public relations battle when encounters between armor-clad riot police with truncheons and college students are broadcast on TV. That's the sad situation California found itself in last week, after a staggering 32% tuition hike was announced.

Leaner, Meaner Workplace For Years To Come (M.W.)

There's no indication that construction or manufacturing jobs will return with great force, and the lifestyle of the white-collar, middle-management worker may be permanently altered. High-level professionals will continue to work in law, medicine, engineering, and the sciences, while low-skill workers will clean houses, drive trucks, or wait tables, performing the types of service jobs that cannot be automated.

The Amazing Labor Market Switcheroo (M.W.)

Jobs puzzler: On Thursday, the White House seemed to be warning of more unemployment gloom.

India's Next Major Global Export (M.W.)

Called jugaad, India's improvisational style of invention focuses on being fast and cheap—attributes just right for these times.

Energy

Eight-Country Report Outlines Fossil-Fuel Industry Sabotage Campaign (M.W.)

Global attempts to craft a pivotal new climate treaty in Copenhagen this month are being stymied by a far-reaching, multinational backlash led by fossil fuel industries and other heavy carbon emitters, according to an eight-country report by the International Consortium of Investigative Journalists.

Environment

Larger Effort To Try And Discredit Climate Science (M.W.)

A series of attempted security breaches ahead of the Copenhagen summit on climate change is evidence of a larger effort to discredit climate science There have been attempts to hack into climate scientists' computers, as well as people impersonating network technicians to try to gain access to offices and data. "They're trying to find anything," says a renowned B.C. researcher. "They don't care what it is."

Tracing 'Researchers' And 'Academics' Back To Fossil-Fuel Industry (M.W.)

The author examines the research organizations and academics who question whether human activity is causing dangerous global warming, and traces their arguments back to funding from the fossil-fuel industry and internal plans that explain their goal is to confuse the public and slow down or stop government action.

Cabinet Meeting On Mt Everest Highlights Melting Himalayan Glaciers (M.W.)

Nepal held the world’s highest Cabinet meeting today as ministers wearing oxygen masks gathered on the slopes of Mount Everest to highlight the danger that global warming poses to Himalayan glaciers.

The Tragedy Of The Himalayas (M.W.)

This year Chinese researchers projected a 43% decrease in glaciated area by 2070. Since the rivers of the Himalayas are shared by nuclear powers that have engaged in violent conflict over the past half-century — India, Pakistan and China — the threat of a war over water can't be denied. "The warming of the past 20 yrs is getting more intense," says Yao Tandong, head of China's Institute of Tibetan Plateau Research. "If warming continues, [the impact] will be even more serious."

The Great Thaw In Shishmaref, Alaska (M.W.)

(2006) Over the past decade, while the US has debated the potential threat of global climate change, residents of this remote island village have seen its effects creep into every aspect of their daily lives. J Holdren, an environmental scholar, explains "These regions around the Arctic are like the coal miner's canary, the early warning to the rest of us of the extent to which the Earth's climate is changing."

America's Chefs Turning To Sustainable Local Sourcing For Food (M.W.)

According to a new survey of American chefs, sustainability and local sourcing and nutrition are the hot culinary trends. They’re much later to the party than trailblazers like Alice Waters and local co-ops, but they are very welcome indeed.

24 Comments

saxplayer00o1's picture
saxplayer00o1
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Re: Daily Digest - December 5

.................New Economic numbers/graphs  from the St. Louis Fed.........................

 

Last Updated: 2009-12-04 10:31 AM CST

Last Updated: 2009-12-04 10:31 AM CST

(Number is lower again)

(Lower again)

(Notice that while manufacturing and construction employment numbers continue down, life is still good if you work for the government)

(Down again)

 (Worst graph of all of them)

(Highest number on record)

(Notice the trend)

(Again, notice the trend)

(Trending down starting in the mid/late 1990s)

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Beyond Global Warming

http://www.financialsense.com/stormwatch/geo/pastanalysis/2009/1204.html

Excerpt:

"To understand global warming, we need to understand the work of Soviet and Russian secret agents. Through an alarmist message, certain groups have become influential. They have mobilized a powerful and active constituency. They are lobbying for government programs. They seek government intervention in the economy. They also seek the "socialization" of industry and commerce, while offering an irresistible critique of greedy corporate interests threatening the whole planet. In short, these groups have initiated an attack against the capitalist system."

 

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saxplayer00o1
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Re: Daily Digest - December 5

Continued

(Look at this graph! New record by a mile)

 

(At 10.0% this graph shows it still being a little ower than in 1980)

(Look at this graph. Do we make anything here anymore?)

(New record..and not by just a little)

  • ....................Employment in government jobs growing, while manufacturing and construction shrinks and unemployment is going through the roof. Then  we have  Bernanke here to

restore our economic health by lowering interest rates to 0% and printing money.

Doug's picture
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Re: Daily Digest - December 5

hucklejohn

The premise is absurd:

Quote:

To understand global warming, we need to understand the work of Soviet and Russian secret agents.

To understand climate change, you need to understand the science, not some long defunct cold war spy games (see Spy vs. Spy, old Mad magazines).  This is just more flak being sent up to obscure the real issues (see above).

Doug

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Re: Daily Digest - December 5

idoctor's picture
idoctor
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Re: Daily Digest - December 5

Schiff is a character LOL. At least what he says makes sense to me.

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Re: Beyond Global Warming

Excellent post thank you.

Here is one you may like.

 

It's Not Just That Global Warming Is Fake. What Matters Is Why This Fakery Is Being Promoted.

http://www.garynorth.com/public/5156.cfm

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earthwise
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Science rejects Global Warming theory

Doug says

To understand climate change, you need to understand the science,...

Well, Doug here is science:

 http://www.garynorth.com/public/5156.cfm

This article (posted above by LoriS-great find!) lists over 31,000 scientists with outstanding credentials in the fields relevant to AGW who have signed a petition in opposition. It's clear from your posts that your rejection of opposing scientific views that, for you, science is defined as anything that supports your partisan viewpoint.

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Re: Science rejects Global Warming theory
earthwise wrote:

Doug says

To understand climate change, you need to understand the science,...

Well, Doug here is science:

 http://www.garynorth.com/public/5156.cfm

This article (posted above by LoriS-great find!) lists over 31,000 scientists with outstanding credentials in the fields relevant to AGW who have signed a petition in opposition. It's clear from your posts that your rejection of opposing scientific views that, for you, science is defined as anything that supports your partisan viewpoint.

I didn't see any science......  just politics!  Like:

"The global warming movement is not about global warming. It is about the creation of an international political control arrangement by which bureaucrats who favor socialism can gain control over the international economy."

You call that science?  IF this was a left wing conspiracy, WHY does Gold in Sacks support climate mitigations?  And why do most of the other multinationals?  To be honest, I smell a right wing rat here, because I know one thing we probably agree on is that the cap'n'trade IS a con, it'll never work.

ONLY one thng will ever save the climate.......  a complete shut down of industry and a return to localised agrarian villages living in harmony with nature, which WILL happen, like it or not, because the current system is so hopelessly broken it has zero chance of surviving the collapse.....

Mike

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Re: Science rejects Global Warming theory

     In my humble opinion, if you go back to the original article and study it, a naturally occuring event is causing the present trend.   A Pacific Decadal Oscillation going from the negative phase to the positive happens all the time.  It can be traced from the beginning of the 1900's to the present.

       
On the significance of the 1976 Pacific climate shift in the climatology of Alaska

Brian Hartmann and Gerd Wendler

Geophysical Institute, University of Alaska Fairbanks, Alaska 99775
 

 

Abstract

The 1976 Pacific climate shift is examined and its manifestations and significance in Alaskan climatology during the last half-century are demonstrated. The Pacific Decadal Oscillation Index shifted in 1976 from dominantly negative values for the 25-year time period 1951-1975 to dominantly positive values for the period 1977-2001.

Mean annual and seasonal temperatures for the positive phase were up to 3.1°C higher than for the negative phase. Likewise, mean cloudiness, wind speeds, and precipitation amounts increased while mean sea level pressure and geopotential heights decreased. The pressure decrease resulted in a deepening of the Aleutian Low in winter and spring. The intensification of the Aleutian Low increased the advection of relatively warm and moist air to Alaska and storminess over the state during winter and spring.

The regime shift is also examined for its effect on the long-term temperature trends throughout the state. The trends that have shown climatic warming are strongly biased by the sudden shift in 1976 from the cooler regime to a warmer regime. When analyzing the total time period from 1951 to 2001, warming is observed, however the 25-year period trend analyses before 1976 (1951-1975) and thereafter (1977-2001) both display cooling, with a few exceptions. In this paper we emphasize the importance of taking into account the sudden changes that result from abrupt climatic shifts, persistent regimes and the possibility of cyclic oscillations, such as the PDO, in the analysis of long-term climate change in Alaska.
  [Abstract end]


   I am sure more learned people than I who are in this science field could verify this.

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Re: Daily Digest - December 5

Earthwise and LoriS, here is some background on the 'petition' you refer to:

Quote:

It was Seitz who launched the "Oregon Petition", which contains the signatures of more than 34,000 scientists saying global warming is probably natural and not a crisis. The petition is a regular feature of the Manufactured Doubt campaign against human-caused global warming. The petition lists the "Oregon Institute of Science and Medicine" as its parent organization. According to Climate Cover-up, the Institute is a farm shed situated a couple of miles outside of Cave Junction, OR (population 17,000). The Institute lists seven faculty members, two of whom are dead, and has no ongoing research and no students. It publishes creationist-friendly homeschooler curriculums books on surviving nuclear war. The petition was sent to scientists and was accompanied by a 12-page review printed in exactly the same style used for the prestigious journal, Proceedings of the National Academy of Sciences. A letter from Seitz, who is prominently identified as a former National Academy of Sciences president, accompanied the petition and review. Naturally, many recipients took this to be an official National Academy of Sciences communication, and signed the petition as a result. The National Academy issued a statement in April 2008, clarifying that it had not issued the petition, and that its position on global warming was the opposite. The petition contains no contact information for the signers, making it impossible to verify. In its August 2006 issue, Scientific American presented its attempt to verify the petition. They found that the scientists were almost all people with undergraduate degrees, with no record of research and no expertise in climatology. Scientific American contacted a random sample of 26 of the 1,400 signatories claiming to have a Ph.D. in a climate related science. Eleven said they agreed with the petition, six said they would not sign the petition today, three did not remember the petition, one had died, and five did not respond.

It is part of an orchestrated disinformation campagin designed to cast doubt and confusion and delay meaningful action:

http://www.wunderground.com/blog/JeffMasters/comment.html?entrynum=1389

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Re: Daily Digest - December 5

Damnthematrix wrote:

I didn't see any science......  just politics!

What?! Are you blind?  For a detailed, footnoted, 12-page article......... CLICK HERE!!!

For a detailed, footnoted, 12-page article, written by three scientists, two with Ph.D's from CalTech, click here.

This paper was sent to tens of thousands of natural scientists in the United States.

Over 31,000 scientists have put their reputations on the line and signed a politically incorrect petition opposing the 1997 Kyoto agreement or protocol. Here is a photocopy of a signed petition.


  

To see the details and qualifications of the 31,000 scientists CLICK!!! where it's says 31,000 scientists!

I think you just proved the old adage "There are none so blind as those who will not see."

 

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Re: Daily Digest - December 5

The absurd lengths AGW advocates will go to in an effort to cling to the illusion that they have an exclusive claim on 'science' becomes more transparent daily.

CB wrote:

According to Climate Cover-up, the Institute is a farm shed situated a couple of miles outside of Cave Junction, OR (population 17,000). The Institute lists seven faculty members, two of whom are dead, and has no ongoing research and no students. It publishes creationist-friendly homeschooler curriculums books on surviving nuclear war.

Yeah, according to Climate Cover-up. Are they unbiased? I dont' think so. This is just a blatant smear attempt. Besides these allegations are totally irrelevant. All that is relevant is whether the list of 31,000 scientists is valid. We are forced to presume from your unwillingness to grapple with the weight of such evidence that you have no other response but distraction. Typical propagandist tactics.

Naturally, many recipients took this to be an official National Academy of Sciences communication, and signed the petition as a result.

What a ridiculous statement. How do you know what the recipients mistook this for? Were you there? Or are you a mindreader? Are we to believe, just because you said so, that these scientists who signed this did so without regard to what it actually said, merely because they were fooled into thinking it was sanctioned by the National Academy of Sciences? Essentially, your accusation is that they signed this without reading it just because it resembled a National Academy of Sciences document. Preposterous! Do you have any evidence that any have recanted or repudiated their signiture?

Scientific American contacted a random sample of 26 of the 1,400 signatories claiming to have a Ph.D. in a climate related science. Eleven said they agreed with the petition, six said they would not sign the petition today, three did not remember the petition, one had died, and five did not respond.

Apparently not! By your own statement we see that eleven Ph.D signatories stood behind their statement. At the very minimum that alone undermines the so-called consensus that AGW theorists claim as their exclusive territory. And what about the other 1,324 Ph.D signatories? They stand unchallenged. That's pretty significant, wouldn't you say?

 

Also let's look at the propaganda tactics of this statement. We must presume that this statement was offered to try to discredit the petition. But a close reading reveals a failure to do so.

We are supposed to conclude that since "six said they would not sign the petition today, three did not remember the petition, one had died, and five did not respond" that therefore their signatures are somehow invalid. Of the five that didn't respond, we have only the evidence of their petition signature by which to judge their intent, which affirms the petition (same with the dead guy).

Scientific American claims six would not re-sign today. Where's the evidence for that? And, even if true, what are we to make of that? You would have us believe that it somehow discredits thier original intent. Hardly. Barring a repudiation all that is in evidence is their signature on the petition. We can only conclude that they didn't repudiate their signature or we surely would have heard about that. Besides, in view of the evidence of suppression of dissent revealed by the  leaked IPCC e-mails who could blame them.

 

 

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Re: Daily Digest - December 5
earthwise wrote:

Over 31,000 scientists have put their reputations on the line and signed a politically incorrect petition opposing the 1997 Kyoto agreement or protocol. Here is a photocopy of a signed petition.

 

I think you just proved the old adage "There are none so blind as those who will not see."

 

I suspect that most of the sigs were collected during the Bush years, if so, that would have made it the politically correct petition.

Ja, someone is proving that age old adage.

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Re: Daily Digest - December 5

 

An afterthought on this statement from CB:

According to Climate Cover-up, the Institute is a farm shed situated a couple of miles outside of Cave Junction, OR (population 17,000).

If you think small town proximity is somehow discrediting, think Manhattan Project. You know, White Sands New Mexico, population zero (at that time).

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Re: Daily Digest - December 5
Denny Johnson wrote:
earthwise wrote:

Over 31,000 scientists have put their reputations on the line and signed a politically incorrect petition opposing the 1997 Kyoto agreement or protocol. Here is a photocopy of a signed petition.

 

I think you just proved the old adage "There are none so blind as those who will not see."

 

I suspect that most of the sigs were collected during the Bush years, if so, that would have made it the politically correct petition.

Ja, someone is proving that age old adage.

No, it would not have made it the politically correct position. AGW was (and still is) the politically correct position, even during the Bush years. If you believe Bush disagreed with AGW (all evidence is to the contrary) then his failure to challenge the AGW orthodoxy demonstrates the PC nature of the issue even back then.

Besides, you missed the point of my post, which was to point out the complete dismissive attempt to ignore the presentation of info rather than grapple with it, not whether it was PC to oppose or support AGW.

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Re: Daily Digest - December 5

The Top Ten Requirements for understanding global warming/climate change:

[Ed. note: Comment removed]

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Re: Science rejects Global Warming theory
westpennpogo wrote:

     In my humble opinion, if you go back to the original article and study it, a naturally occuring event is causing the present trend.   A Pacific Decadal Oscillation going from the negative phase to the positive happens all the time.  It can be traced from the beginning of the 1900's to the present.

You may be correct as we do not have enough data to explain global weather patterns over an extensive period. However, does this uncertainty mean we have the excuse to continue polutting the planet at the current rate? I think not! Any effort, no matter how small, should be made to reduce man's impact to our planet. I would rather make an effort now and find out later that this period of global warming was normal, rather than do nothing and find out in future that made the wrong decision. Always err on the side of caution when playing with big stakes.

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Re: Science rejects Global Warming theory

Aaarg... not THAT again. I have a suggestion... can we have poll, something like:

Do you believe in climate change?
1. Yes   90%
2. No    10%

Just to stave off whomever wants to start this kind of discussion again at each tick of the clock..

Does the software running this site have a feature for that?

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Re: Daily Digest - December 5

I must say that the AGW debate in this thread is a complete circus. It's shameful. 

Please hit ctrl-alt-del and leave out the...

Argumentum ad hominen.

Argumentum ad populum

Argumentum ad vercundium.

It's the bread & butter of this "debate" and more than a few of us are rather disgusted by it.

Scientists don't use these logical fallacies to argue the merits of their positions. Politicians do.

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Re: Daily Digest - December 5

I would like to suggest, before starting yet another thread on this subject, that everyone review this thread:

http://www.peakprosperity.com/forum/global-climate-change-it-worth-brushing/5895

Virtually everything here has been extensively discussed.

Doug

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Re: Daily Digest - December 5

Can someone explain to me, if humans are the main cause of global warming, What caused the ice ages we had here in the US to form, and then withdraw?  Perhaps normal warming and  cooling cycles in nature? 

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Re: Daily Digest - December 5

Well here is my 2 cents. Which will be worth .0002 soon.

1.) The earth does what's best for itself.

2.) We have been poor stewards of this planet.

 

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r
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Re: Daily Digest - December 5

There are too many threads and posts wasted on the science of AGW, or lack ot it, when the real concern of many people, especially the skeptics, is the socialist and anti-sovereignty Cap and Trade proposal.  But what about the carbon tax proposal?  Isn't that a good idea, given that most agree with peak oil?  Wouldn't a carbon tax mitigate both CO2 emissions and oil consumption?

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