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What's the Real truth? (Read 29099 times)
perceptions_now
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What's the Real truth?
Jun 1st, 2011 at 10:23pm
 
About the OZ Economy & Climate Change?

Well, for starters, the real truth is not something that diehard Liberal or Labor supporters, PR SPIN MASTERS or Politicians, have any remote interest in!  

That said, the truth is that the Global Climate is changing, that change is materially affected by human input, as the majority of world scientists agree and the leading edge of that Climate Change is already starting to impact the Australian & Global Economy, via events such as Floods (in OZ & elsewhere), severe hurricanes/cyclones, droughts/heatwaves & more!

However, Climate Change is not the only thing different, there is actually a paradigm change in progress, where a number of factors are coming together, at around the same time, the overall effect of those factors, on the OZ & Global Economy, are adverse and that trend is only just commencing!

The effects of this human induced Climate Change is set to get worse, possibly much worse, before there is any chance of avoiding the worst case scenario's and given human nature, as is displayed on these boards, we may not avoid those worst case scenario's?


The other factors involved, in addition to Climate Change are -
1) Demographics - The Baby Boomer Bust.
2) Peak Energy (primarily Oil).
3) Massive Global Debt overload.

However, just to start the ball rolling, I repeat again, as I have on numerous other ocassions, the crucial Climate Change questions are -

Forget everything else about who is correct & who is not, about this ideology or that one.

The crucial question is what will be the cost to us and our children, in the longer term
, if we take the Peak Oil line, we are wrong again and we do not take whatever actions are possible to mitigate the worst effects of the GHG/Climate Change problem?  

In other words, what are the relative costs to humanity, of doing something or doing nothing (continuing business as usual)?

Put simply, the crucial questions are very straight forward -
1) What are the likely costs, benefits & losses involved, IF humanity were to proceed on MY scenario that Climate Change is a reality and it turned out that my Climate Change scenario was -
a) Correct!
b) Incorrect!

2) What are the likely costs, benefits & losses involved, IF humanity were to proceed on the scenario that Climate Change is NOT a reality and it turned out that Climate Change scenario was -
a) Correct!
b) Incorrect!

 
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stryder
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Re: What's the Real truth?
Reply #1 - Jun 1st, 2011 at 11:01pm
 
Quote:
The moral of the story is, spend a little extra, mitigate against the likely risks, but have a back up plan and you can live happily ever after and avoid the Big Bad Climate Change Wolf!


by Perceptions Now


Quote:
LIKELY, LIKELY ?

WHAT ???

YOU SOUND AS THOUGH YOUR NOT 100%  CERTAIN OF THE WHOLE CLIMATE CHANGE/GLOBAL WARMING ARGUEMENT YOURSELF, PERCEPTIONS

SO YOUR HAPPY TO SEE TAXPAYERS MONEY SUCKED IN THE WIND OVER SOMETHING THAT MAY LIKELY BE TO YOU ???

I never realised how stupid one HAS TO BE have to be to swallow that crap.  
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Stryders response


How does a leftie find himself or herself BELIEVEING IN ALL THAT CRAP THATS BEING SHOVED AT US IN A VERY ORWELLIAN WAY. ???



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stryder
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Re: What's the Real truth?
Reply #2 - Jun 1st, 2011 at 11:07pm
 
Quote:
the real truth is not something that diehard Liberal or Labor supporters, PR SPIN MASTERS or Politicians, have any remote interest in!  

 Oh yes PERCEPTION NOW IS GOING OFF ABOUT POLITICAL SPIN AND AT THE SAME TIME, DOESNT QUESTION THE WHOLE SPIN BROUGHT ABOUT BY SCIENTISTS, POLITICIANS AND MEDIA THAT A CARBON TAX, IS SOMEHOW GOING TO SAVE THE PLANET FROM THIS MYTHICAL CLIMATIC DOOM.

MIND YOU A TAX, ACCEPTS THE SPIN, LINE HOOK AND SINK.  Grin Grin
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Re: What's the Real truth?
Reply #3 - Jun 1st, 2011 at 11:11pm
 
perceptions_now


Pleeeeaaase. Scaremonger out of its box.

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perceptions_now
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Re: What's the Real truth?
Reply #4 - Jun 1st, 2011 at 11:13pm
 
stryder wrote on Jun 1st, 2011 at 11:01pm:
Quote:
The moral of the story is, spend a little extra, mitigate against the likely risks, but have a back up plan and you can live happily ever after and avoid the Big Bad Climate Change Wolf!


by Perceptions Now


Quote:
LIKELY, LIKELY ?

WHAT ???

YOU SOUND AS THOUGH YOUR NOT 100%  CERTAIN OF THE WHOLE CLIMATE CHANGE/GLOBAL WARMING ARGUEMENT YOURSELF, PERCEPTIONS

SO YOUR HAPPY TO SEE TAXPAYERS MONEY SUCKED IN THE WIND OVER SOMETHING THAT MAY LIKELY BE TO YOU ???

I never realised how stupid one HAS TO BE have to be to swallow that crap.  
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Stryders response


How does a leftie find himself or herself BELIEVEING IN ALL THAT CRAP THATS BEING SHOVED AT US IN A VERY ORWELLIAN WAY. ???



I don't know!

Go find one & find out?
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stryder
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Re: What's the Real truth?
Reply #5 - Jun 1st, 2011 at 11:14pm
 
Quote:
Forget everything else about who is correct & who is not, about this ideology or that one.

The crucial question is what will be the cost to us and our children, in the longer term, if we take the Peak Oil line, we are wrong again and we do not take whatever actions are possible to mitigate the worst effects of the GHG/Climate Change problem?


THIS IS FUNNY, OH FORGET ABOUT WHO IS CORRECT OR NOT,

JUST BELIEVE IN MAN MADE CLIMATE CHANGE, JUST ACCEPT WHAT BIG BROTHER SAYS ON CLIMATE CHANGE AND THE CARBON TAX JUST DONT QUESTION IT

Perceptions Now, you dont make a compelling case AT ALL,
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Re: What's the Real truth?
Reply #6 - Jun 1st, 2011 at 11:14pm
 
The truth and the only issue is that the world leaders are corrupt lying war mongering scum who must be disobeyed and who need to be driven from power, that is all. Cool
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perceptions_now
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Re: What's the Real truth?
Reply #7 - Jun 1st, 2011 at 11:16pm
 
stryder wrote on Jun 1st, 2011 at 11:07pm:
Quote:
the real truth is not something that diehard Liberal or Labor supporters, PR SPIN MASTERS or Politicians, have any remote interest in!  

 Oh yes PERCEPTION NOW IS GOING OFF ABOUT POLITICAL SPIN AND AT THE SAME TIME, DOESNT QUESTION THE WHOLE SPIN BROUGHT ABOUT BY SCIENTISTS, POLITICIANS AND MEDIA THAT A CARBON TAX, IS SOMEHOW GOING TO SAVE THE PLANET FROM THIS MYTHICAL CLIMATIC DOOM.

MIND YOU A TAX, ACCEPTS THE SPIN, LINE HOOK AND SINK.  Grin Grin



As usual, you & your ilk do not address the crucial questions, because the answers are not pretty!
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perceptions_now
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Re: What's the Real truth?
Reply #8 - Jun 1st, 2011 at 11:18pm
 
stryder wrote on Jun 1st, 2011 at 11:14pm:
Quote:
Forget everything else about who is correct & who is not, about this ideology or that one.

The crucial question is what will be the cost to us and our children, in the longer term, if we take the Peak Oil line, we are wrong again and we do not take whatever actions are possible to mitigate the worst effects of the GHG/Climate Change problem?


THIS IS FUNNY, OH FORGET ABOUT WHO IS CORRECT OR NOT,

JUST BELIEVE IN MAN MADE CLIMATE CHANGE, JUST ACCEPT WHAT BIG BROTHER SAYS ON CLIMATE CHANGE AND THE CARBON TAX JUST DONT QUESTION IT

Perceptions Now, you dont make a compelling case AT ALL,



Believe it or not, what are the answers -
Put simply, the crucial questions are very straight forward -
1) What are the likely costs, benefits & losses involved, IF humanity were to proceed on MY scenario that Climate Change is a reality and it turned out that my Climate Change scenario was -
a) Correct!
b) Incorrect!

2) What are the likely costs, benefits & losses involved, IF humanity were to proceed on the scenario that Climate Change is NOT a reality and it turned out that Climate Change scenario was -
a) Correct!
b) Incorrect!
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Re: What's the Real truth?
Reply #9 - Jun 1st, 2011 at 11:25pm
 
Quote:
What are the likely costs, benefits & losses involved, IF humanity were to proceed on MY scenario that Climate Change is a reality and it turned out that my Climate Change scenario was -


OH SO PERCEPTIONS FINDS IT PREFERABLE THAT TAXPAYERS DOLLARS SHOULD GO UP IN THE WIND EVEN IF THERE IS NO CONCLUSIVE EVIDENCE WHICH THERE ISNT ANY OF MAN MADE CLIMATE CHANGE
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Re: What's the Real truth?
Reply #10 - Jun 1st, 2011 at 11:32pm
 
Those questions DONT MAKE YOUR ARGUMENT ANYMORE COMPELLING,

ITS JUST YOUR SILLY SCAREMONGERING, THATS ALL LEFTIES LIKE YOU PERCEPTIONS HAVE,

Scare, frighten, spook, alarm people into submission.

ITS A LITTLE WONDER THAT PEOPLE LIKE YOU ARE IN THE MINORITY IN THIS DEBATE WHEN ALL YOU CAN DO IS JUST SCAREMONGER.  Grin Grin
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Re: What's the Real truth?
Reply #11 - Jun 1st, 2011 at 11:33pm
 



Do any of you buy a lottery or other prize ticket, in the hope that you might win the big one?

Funny, given that your chance of winning such a major prize is so small, relative to the chance of you and your descendants experiencing the volaility and dangers of climate change...
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Lamenting the shift in the Australian psyche, away from the egalitarian ideal of the fair-go - and the rise of short-sighted pollies, who worship the 'Growth Fairy' and seek to divide and conquer!
 
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Re: What's the Real truth?
Reply #12 - Jun 1st, 2011 at 11:40pm
 
Quote:
Funny, given that your chance of winning such a major prize is so small, relative to the chance of you and your descendants experiencing the volaility and dangers of climate change...


Grin Grin Grin

OH YES EQUITIST, JUMP IN AND KEEP SPINNING THE CRAP THAT THE PLANET IS IN DOOM IF WE DO NOT ACCEPT THIS NEW TAX


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Re: What's the Real truth?
Reply #13 - Jun 1st, 2011 at 11:44pm
 
Quote:
Forget everything else about who is correct & who is not, about this ideology or that one.

The crucial question is what will be the cost to us and our children, in the longer term, if we take the Peak Oil line, we are wrong again and we do not take whatever actions are possible to mitigate the worst effects of the GHG/Climate Change problem?

Forget who is right or wrong

What if the existance of the human race depended on us going full steam ahead inventing options for asteroid manuevering and ice age survival, heat wave survival, planet exploration ect.

Cant do that while breaking the economic system and making fuels expensive.

What if what if. What are the costs to our children.
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Re: What's the Real truth?
Reply #14 - Jun 1st, 2011 at 11:52pm
 
Quote:
What if what if. What are the costs to our children.


You see the Climate Change nazis CANT WIN THE CARBON TAX DEBATE BECAUSE AFTER MONTHS OF PROPAGANDA USING DUBIOUS AND VAGUE SCIENCE, THE MAJORITY OF THE AUSTRALIAN PEOPLE STILL DONT WANT THE CARBON TAX

So what do they do, use the last resort and scaremonger people into submission which looks like it will never work,

THANK GOD, PEOPLE ARE MORE INTELIGIENT THAN THESE CLIMATE CHANGE NAZIS.
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Re: What's the Real truth?
Reply #15 - Jun 1st, 2011 at 11:54pm
 
stryder wrote on Jun 1st, 2011 at 11:32pm:
Those questions DONT MAKE YOUR ARGUMENT ANYMORE COMPELLING,

ITS JUST YOUR SILLY SCAREMONGERING, THATS ALL LEFTIES LIKE YOU PERCEPTIONS HAVE,

Scare, frighten, spook, alarm people into submission.

ITS A LITTLE WONDER THAT PEOPLE LIKE YOU ARE IN THE MINORITY IN THIS DEBATE WHEN ALL YOU CAN DO IS JUST SCAREMONGER.  Grin Grin


Apparently, you haven't read too many of my posts!

Otherwise, you would know that I'm fair & even handed, I think that Politicians on both sides (right & left), are full of -
Credible
Reliable
Abundant
Paradoxes


And, the answers to the following questions, must be scary, because you don't seem to want to address them.

1) What are the likely costs, benefits & losses involved, IF humanity were to proceed on MY scenario that Climate Change is a reality and it turned out that my Climate Change scenario was -
a) Correct!
b) Incorrect!

2) What are the likely costs, benefits & losses involved, IF humanity were to proceed on the scenario that Climate Change is NOT a reality and it turned out that Climate Change scenario was -
a) Correct!
b) Incorrect!


I wonder why?


Perhaps, it will come to you, if you swot up on it, for a while?

But, perhaps not, Soren has been swoting & sweating at it for some time and the little sweetie is no closer to being educated?
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« Last Edit: Jun 2nd, 2011 at 11:17am by perceptions_now »  
 
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perceptions_now
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Re: What's the Real truth?
Reply #16 - Jun 2nd, 2011 at 12:04am
 
stryder wrote on Jun 1st, 2011 at 11:52pm:
Quote:
What if what if. What are the costs to our children.


You see the Climate Change nazis CANT WIN THE CARBON TAX DEBATE BECAUSE AFTER MONTHS OF PROPAGANDA USING DUBIOUS AND VAGUE SCIENCE, THE MAJORITY OF THE AUSTRALIAN PEOPLE STILL DONT WANT THE CARBON TAX

So what do they do, use the last resort and scaremonger people into submission which looks like it will never work,

THANK GOD, PEOPLE ARE MORE INTELIGIENT THAN THESE CLIMATE CHANGE NAZIS.


As I said, apparently you have not read my posts or you would know that I do believe that a Carbon Tax should be implemented and nor should an ETS!

Instead of trying to lump me, into your perceptions, it may help if you actually looked (for a change), before leaping into action and as part of the process, try answering the questions, which are very straight forward.

1) What are the likely costs, benefits & losses involved, IF humanity were to proceed on MY scenario that Climate Change is a reality and it turned out that my Climate Change scenario was -
a) Correct!
b) Incorrect!

2) What are the likely costs, benefits & losses involved, IF humanity were to proceed on the scenario that Climate Change is NOT a reality and it turned out that Climate Change scenario was -
a) Correct!
b) Incorrect!


And, that invitation goes to anybody who THINKS they have an answer or two.
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Re: What's the Real truth?
Reply #17 - Jun 2nd, 2011 at 12:09am
 
Quote:
Perhaps, it will come to you, if you swot up on it, for a while?



It seems to me Perceptions you dont even get it,

These 2 questions of yours are about what if, what if and what if , which makes it quite silly, when you read it ??

What we have here is global warming hysteria which is giving us an example of PROPAGANDA VS TRUTH


This Climate change nonsense is also helping politicians in there quest TO MASTERMIND SOCIETY.

What bugs me most of all is the arrogance of these climate change nazis THAT THEY THINK THEY KNOW WHATS BEST FOR EVERYONE.
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« Last Edit: Jun 2nd, 2011 at 12:14am by stryder »  
 
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Re: What's the Real truth?
Reply #18 - Jun 2nd, 2011 at 12:18am
 
1) What are the likely costs, benefits & losses involved, IF humanity were to proceed on MY scenario that Climate Change is a reality and it turned out that my Climate Change scenario was -
a) IF
b) IF
2) What are the likely costs, benefits & losses involved, IF humanity were to proceed on the scenario that Climate Change is NOT a reality and it turned out that Climate Change scenario was -
a) IF
b) IF

And, that invitation goes to anybody who THINKS they have an answer or two.

Too many IF's
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Re: What's the Real truth?
Reply #19 - Jun 2nd, 2011 at 12:20am
 
Speaking of if's

Climate change catastrophe took just months (historical)
http://www.timesonline.co.uk/tol/news/science/earth-environment/article6917215.e...
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Re: What's the Real truth?
Reply #20 - Jun 2nd, 2011 at 12:24am
 
Quote:
1) What are the likely costs, benefits & losses involved, IF humanity were to proceed on MY scenario that Climate Change is a reality and it turned out that my Climate Change scenario was -
a) IF
b) IF
2) What are the likely costs, benefits & losses involved, IF humanity were to proceed on the scenario that Climate Change is NOT a reality and it turned out that Climate Change scenario was -
a) IF
b) IF

And, that invitation goes to anybody who THINKS they have an answer or two.

Too many IF's



That whats most stupid of all of what your saying, Perceptions.

THAT WE THROW AWAY MONEY, TAX PAYERS MONEY INTO THE WIND IN A CARBON TAX BASED ON A WHOLE SERIES OF IFS, IFS AND IFS.

So stupid when you think about it, but then again thats the mentality of the left.
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Re: What's the Real truth?
Reply #21 - Jun 2nd, 2011 at 12:40am
 
Rebellion...
The Clash - White Riot

Cool\

the world leaders must fall

... Cool
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Re: What's the Real truth?
Reply #22 - Jun 2nd, 2011 at 6:16am
 
Here's the real truth.

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Re: What's the Real truth?
Reply #23 - Jun 2nd, 2011 at 7:35am
 
Put simply, the crucial questions are very straight forward -
1) What are the likely costs, benefits & losses involved, IF humanity were to proceed on MY scenario that Climate Change is a reality and it turned out that my Climate Change scenario was -
a) Correct!
b) Incorrect!


a) The world would be better placed to provide sustainable energy supplies and would have moved to alternative fuels!!!

b) The world would be better placed to provide sustainable energy supplies and would have moved to alternative fuels!!!

2) What are the likely costs, benefits & losses involved, IF humanity were to proceed on the scenario that Climate Change is NOT a reality and it turned out that Climate Change scenario was -
a) Correct!
b) Incorrect!


a) The world would be struggling to provide sustainable energy supplies where alternative fuels would be expensive and hard to resource....Our planet would be in real trouble!!!

b) The world would be struggling to provide sustainable energy supplies where alternative fuels would be expensive and hard to resource....Our planet would be in real trouble!!!


It makes no difference weather climate change is real or not.....fossil fuels are dwindling fast.....when supply becomes even more erratic the price will sky rocket.....We cannot afford to wait and hope cheap fuel will last forever!!!
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If knowledge can create problems, it is not through ignorance that we can solve them.
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Re: What's the Real truth?
Reply #24 - Jun 2nd, 2011 at 7:43am
 
philperth2010 wrote on Jun 2nd, 2011 at 7:35am:
Put simply, the crucial questions are very straight forward -
1) What are the likely costs, benefits & losses involved, IF humanity were to proceed on MY scenario that Climate Change is a reality and it turned out that my Climate Change scenario was -
a) Correct!
b) Incorrect!


a) The world would be better placed to provide sustainable energy supplies and would have moved to alternative fuels!!!

b) The world would be better placed to provide sustainable energy supplies and would have moved to alternative fuels!!!

2) What are the likely costs, benefits & losses involved, IF humanity were to proceed on the scenario that Climate Change is NOT a reality and it turned out that Climate Change scenario was -
a) Correct!
b) Incorrect!


a) The world would be struggling to provide sustainable energy supplies where alternative fuels would be expensive and hard to resource....Our planet would be in real trouble!!!

b) The world would be struggling to provide sustainable energy supplies where alternative fuels would be expensive and hard to resource....Our planet would be in real trouble!!!


It makes no difference weather climate change is real or not.....fossil fuels are dwindling fast.....when supply becomes even more erratic the price will sky rocket.....We cannot afford to wait and hope cheap fuel will last forever!!!





phil they have known about shrinking fossil fuel for ages... they have worked on that for ages..

we cant sell enough of our ore/coal overseas quick enough.. so I have no doubt we have enough to get by on for a few more years yet..

in fact with a recession stareing us in the face we are very very much hoping to sell more of our fossil ore overseas to keep our head about water.


so does it seem alright with you that we put the CARBON CRISIS GW on the backburner untill after a recession has passed???????????
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Re: What's the Real truth?
Reply #25 - Jun 2nd, 2011 at 10:35am
 
World Riot


... Cool

No World Leaders - No Carbon Tax on the poor to support the rich. Cool
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Re: What's the Real truth?
Reply #26 - Jun 2nd, 2011 at 11:05am
 

It amazes me that in Australia climate change is seen as a left vs right argument.  How did it ever get that way ?

The UK's conservative government just set very tight co2 targets.
NZ's conservative government recently introduced an ETS.
Fair few conservative governments in Europe brought in the ETS.

We had consensus with Howard, Turnbull, but Tony Abbott is just being a d1ckhead.
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Re: What's the Real truth?
Reply #27 - Jun 2nd, 2011 at 11:07am
 
Doctor Jolly wrote on Jun 2nd, 2011 at 11:05am:
It amazes me that in Australia climate change is seen as a left vs right argument.  How did it ever get that way ?

The UK's conservative government just set very tight co2 targets.
NZ's conservative government recently introduced an ETS.
Fair few conservative governments in Europe brought in the ETS.

We had consensus with Howard, Turnbull, but Tony Abbott is just being a d1ckhead.

The 'why cant every just be mushrooms' argument.

The left are more vocal on CC and the extreme environmentalists are left, the greens are extreme left, gang green labor are just sellers of their sole. I guess that is why.
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Re: What's the Real truth?
Reply #28 - Jun 2nd, 2011 at 11:15am
 
Doctor Jolly wrote on Jun 2nd, 2011 at 11:05am:
It amazes me that in Australia climate change is seen as a left vs right argument.  How did it ever get that way ?

The UK's conservative government just set very tight co2 targets.
NZ's conservative government recently introduced an ETS.
Fair few conservative governments in Europe brought in the ETS.

We had consensus with Howard, Turnbull, but Tony Abbott is just being a d1ckhead.

Abbott appeals to the extremist lowly educated in the community, the ones who can not decipher the difference between climate and weather, for example. Abbott is stupid enough to think there are votes in it for him, when in reality only a small percentage of Australians are as stupid as those climate change confusionalists posting here. The best thing for Australia will be the Libs dumping Abbott and a consensus reached between the two major parties, this will happen, and then the confusionalists will be without a voice and fade away into the never never along with their earth is flat ancestors.
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Re: What's the Real truth?
Reply #29 - Jun 2nd, 2011 at 11:45am
 
progressiveslol wrote on Jun 2nd, 2011 at 11:07am:
Doctor Jolly wrote on Jun 2nd, 2011 at 11:05am:
It amazes me that in Australia climate change is seen as a left vs right argument.  How did it ever get that way ?

The UK's conservative government just set very tight co2 targets.
NZ's conservative government recently introduced an ETS.
Fair few conservative governments in Europe brought in the ETS.

We had consensus with Howard, Turnbull, but Tony Abbott is just being a d1ckhead.

The 'why cant every just be mushrooms' argument.

The left are more vocal on CC and the extreme environmentalists are left, the greens are extreme left, gang green labor are just sellers of their sole. I guess that is why.



The Left are more vocal on Climate Change??????????
Now I know your delusional,
We on the "LEFT" are happy to take action, you don't hear us on the radio talking about "World Government, 0.04%,Great Big New Tax,etc etc, no it's you guys whatever you wish to call yourselves.
The vocal minority of skeptics/deniers are the ones creating headlines, the rest of us just wish the government would tell you to STFU & get on with it.
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Re: What's the Real truth?
Reply #30 - Jun 2nd, 2011 at 12:10pm
 
http://climatereview.net/ChewTheFat/?p=206
Conclusion

So, there is perhaps an air of hypocrisy around Ross Garnaut’s position as “Champion of the Green movement”?  His hands are covered in muck, and we’re not talking about him pottering around his cabbage patch on a Sunday here.  The muck that he’s knee deep in is phenomenally toxic and, in classic colonial style, polluting jolly foreigner’s island whilst he’s reaping massive rewards.  He deregulated Papua New Guinea in the 70s and, since then, is now profiteering massively from their gold resources.  He really sets the “Gold” standard when it comes to environmentalism.

Evil, exploitative capitalism I can handle, but lashings of hypocrisy, well, that just gets my goat.

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Re: What's the Real truth?
Reply #31 - Jun 2nd, 2011 at 12:21pm
 
cods wrote on Jun 2nd, 2011 at 7:43am:
philperth2010 wrote on Jun 2nd, 2011 at 7:35am:
Put simply, the crucial questions are very straight forward -
1) What are the likely costs, benefits & losses involved, IF humanity were to proceed on MY scenario that Climate Change is a reality and it turned out that my Climate Change scenario was -
a) Correct!
b) Incorrect!


a) The world would be better placed to provide sustainable energy supplies and would have moved to alternative fuels!!!

b) The world would be better placed to provide sustainable energy supplies and would have moved to alternative fuels!!!

2) What are the likely costs, benefits & losses involved, IF humanity were to proceed on the scenario that Climate Change is NOT a reality and it turned out that Climate Change scenario was -
a) Correct!
b) Incorrect!


a) The world would be struggling to provide sustainable energy supplies where alternative fuels would be expensive and hard to resource....Our planet would be in real trouble!!!

b) The world would be struggling to provide sustainable energy supplies where alternative fuels would be expensive and hard to resource....Our planet would be in real trouble!!!


It makes no difference weather climate change is real or not.....fossil fuels are dwindling fast.....when supply becomes even more erratic the price will sky rocket.....We cannot afford to wait and hope cheap fuel will last forever!!!





1) phil they have known about shrinking fossil fuel for ages...

2) they have worked on that for ages..

3) we cant sell enough of our ore/coal overseas quick enough..

4) so I have no doubt we have enough to get by on for a few more years yet..

5) in fact with a recession stareing us in the face we are very very much hoping to sell more of our fossil ore overseas to keep our head about water.


6) so does it seem alright with you that we put the CARBON CRISIS GW on the backburner untill after a recession has passed???????????


Cods,
Are you sure that you're not another Maqqa sock, because that post pretty much proves that you are as thick as Maqqa is!

1) That's correct, THEY have known about Peak Energy for quite some time.

2) That's also correct, probably a good 40, maybe 50 years.

3) That's also correct, but should that be any surprise, given what has already been acknowledged about Energy supply problems?

4) That's partially correct, that we have a few more years Energy Supplies left.
In fact, Globally we would likely have another 40-60 years of Fossil Fuels (Oil, Coal & Natural Gas and let's throw Uranium into that time line to), at current rates of use.
But those current rates of use will simply become impossible shortly, because Production/Supply will start to Decline!
Demand will continue to head North, for some time, in line with increasing Global Population.
Therefore, Economics 101 will ensure that Prices will rise and rise dramatically, as Demand outstrips Supply.
But, of even greater importance will be Energy shortages, even in first world Economies.
However, the ramifications will be far more pronounced & deadly in Developing & Thrid world Economies!

5) I'm now shaking my head!
You finally acknowledge that some of what I've been talking about is correct, by saying that we (OZ & Globally) are heading back into Recession, which we never really left.
But then, you turn around and say that you hope we sell more of our fossil ore overseas.
If the rest of the world heads back into Recession, which I expect it will, then the Global Energy Consumption will Decline, not increase and our exports will also Decline!
The overrider to that, could be if the Chinese decide not to proceed with their Nuclear program, given the recent Japanese problems and the fact the the Chinese Nuclear reactors would also be situated in a similar area, prone to the Pacific Rim of Fire (Earthquake zone).

But, the overriding issue from an Australian perspective is that all of the Fossil Fuels are set to get very expensive, then run out, within 40-60 years, so we shouldn't sell any overseas, we should keep it for our own future Consumption, IF NECESSARY!

6) So, does it seemed ok to put the Carbon Crisis on the backburner until after the Recession passes?
HELL NO!
Because of Peak Energy & the other major factors -
1) Demographics - The Baby Boomer Bust.
2) Climate Change.
3) Massive Global Debt overload.
this recession will be quite long and time is simply a luxury we don't have, as there are lengthy time lags involved in any attacks that may be possible, if we are to avoid the worst future affects of Climate Change!
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Re: What's the Real truth?
Reply #32 - Jun 2nd, 2011 at 2:05pm
 
You can win this debate by collectively sending your power bills back unpaid until this farce stops.  Take action, take to the streets, riot, bring down the world dictatorship.

Class War till the end

http://catmacros.files.wordpress.com/2009/12/anarchy_sid_vicious_quote_cat.jpgw=480&h=408 Smiley
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Re: What's the Real truth?
Reply #33 - Jun 2nd, 2011 at 2:23pm
 
philperth2010 wrote on Jun 2nd, 2011 at 7:35am:
Put simply, the crucial questions are very straight forward -
1) What are the likely costs, benefits & losses involved, IF humanity were to proceed on MY scenario that Climate Change is a reality and it turned out that my Climate Change scenario was -
a) Correct!
b) Incorrect!


a) The world would be better placed to provide sustainable energy supplies and would have moved to alternative fuels!!!

b) The world would be better placed to provide sustainable energy supplies and would have moved to alternative fuels!!!

2) What are the likely costs, benefits & losses involved, IF humanity were to proceed on the scenario that Climate Change is NOT a reality and it turned out that Climate Change scenario was -
a) Correct!
b) Incorrect!


a) The world would be struggling to provide sustainable energy supplies where alternative fuels would be expensive and hard to resource....Our planet would be in real trouble!!!

b) The world would be struggling to provide sustainable energy supplies where alternative fuels would be expensive and hard to resource....Our planet would be in real trouble!!!


It makes no difference weather climate change is real or not.....fossil fuels are dwindling fast.....when supply becomes even more erratic the price will sky rocket.....We cannot afford to wait and hope cheap fuel will last forever!!!


Phil, that's a ridiculous response...
The planet would NOT 'be in real trouble' in the event of Q2a...
Nor for that matter, in Q2b.....
If (or rather when) fossil fuels 'run out' or run low, humanity will simply change to alternative energy sources....

Your responses to Q1 apply equally to Q2...

PN's original 'crucial questions' are in fact the very same question, reworded....
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Re: What's the Real truth?
Reply #34 - Jun 2nd, 2011 at 2:23pm
 
I post this here, because it's relevant!

Soren wrote on Jun 2nd, 2011 at 12:00pm:
AGW is real and we do
something
- cost is equal to the cost of what we are doing. Whether it is effective is unknown as the effects of AGW are unknown.
nothing - cost is equal to the effects of AGW (unknown).



AGW is not real and we do  
Something
 - cost is equal to the cost of whatever we are doing but it is all pointless waste as far as the climate is concerned
nothing - no cost.



A sober assessment indicates that it is better to wait and see what happoens and spend the money on coping with any change that may eventuate than to start spending in advance on a change that we do not fully understand either in scope or whether it is going to happen at all.

It is certainly much more prudent to explore ways of capturing and storing CO2 than to cripple industry and global development.






1) What are the likely costs, benefits & losses involved, IF humanity were to proceed on MY scenario that Climate Change is a reality and it turned out that my Climate Change scenario was -
a) Correct!


We, the current batch of humans, would have done whatever we could to prevent a catastrophe and we would have done so on the user pays principle. At least, we would not have completely postponed any costs, exclusively to future generations, so that we could continue to pander to our own immediate whims!

There is no denying that the costs of taking action now, would be significant and when combined with what is already happening relevant to -
1) Demographics - The Baby Boomer Bust.
2) Peak Energy.
3) Massive Global Debt overload.
those costs would most likely make the upcoming Depression, very long & even more painfull.
In relative GDP terms, if all countries chipped in now, then the cost could perhaps be at least 5% of GDP.

However, an overrider is that it must be an all in approach, if some of the larger Economies such as the USA, China, India, Europe and even Australia do not play ball fairly, then whatever is done is likely not to bear fruit and failure will have severe costs!  

b) Incorrect!

Then we will unnecessarily have exacerbated a Depression, into a severe Depression.

2) What are the likely costs, benefits & losses involved, IF humanity were to proceed on the scenario that Climate Change is NOT a reality and it turned out that Climate Change scenario was -
a) Correct!

Then we will unnecessarily have exacerbated a Depression, into a severe Depression.

b) Incorrect!

IF action does not start fairly soon on both Climate Change & Peak Energy, then the results would be -
* The entire Global Economy may vanish!
* A catastrophe, in human loss of life, on a Biblical scale!

The basic difference between the two approaches, is that if we accept there may be a Threat, then we will have simply followed good business practices and acted on the SWOT approach, which is simply a strategic planning method used to evaluate the Strengths, Weaknesses, Opportunities, and Threats involved in any project, Private business venture and Governments, at all levels.

We will have detected possible Threats, such as Climate Change & Peak Energy and done our Due Diligence, to see that future generations had a reasonable chance of living a life worth living.

In other words, we (collectively) will simply have done what good businesses, governments & individuals should do, every day and what most actually do.

We have assessed the Strengths, Weaknesses, Opportunities & Threats, several significant Threats have appeared and we have treated them according to their priority. These threats, whilst some may say they are not overwhelming, nor perhaps even likely, they are of such a size, if they become reality, that we CAN NOT IGNORE THEM.

So, we do what good business pratice dictates, we look at insurance to cover the RISK of SYSTEMIC MELTDOWN, by getting everyone to pitch in a bit every year,  as preventative measures and we take all possible mitigation measures, to try to prevent the systemic meltdown of the Business/Government/Global Economy.    

The likely outcomes of two scenario's is the same, we simply make a bad scenario worse.

If we assume that Climate Change is real, it turns out to be real, we take proper Business Risk mitgation and everyone joins in, then humanity & the Economy, still has hope.

If we assume that Climate Change is NOT real,  but it turns out to be real, we continue with Business as usual and do nothing, then humanity & the Economy, losses all hope and we really are doomed.
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Re: What's the Real truth?
Reply #35 - Jun 2nd, 2011 at 2:34pm
 
perceptions_now wrote on Jun 2nd, 2011 at 2:23pm:
I post this here, because it's relevant!


What if humanity depended on us using all the fossil fuels to invent ways of suriving major disasters. What then.

I give you crack pot idea against your crack pot idea of AGW and having to do something.
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Re: What's the Real truth?
Reply #36 - Jun 2nd, 2011 at 2:42pm
 


progressiveslol wrote on Jun 2nd, 2011 at 2:34pm:
perceptions_now wrote on Jun 2nd, 2011 at 2:23pm:
I post this here, because it's relevant!


What if humanity depended on us using all the fossil fuels to invent ways of suriving major disasters. What then.

I give you crack pot idea against your crack pot idea of AGW and having to do something.




Actually, you indirectly point to an important aspect of the fossil 'fuel' consumption debate - i.e. that: humanity ought to be conserving its finite oil reserves for far more valuable and productive long-term uses, by future generations, than once-off combustion for temporary energy!

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Re: What's the Real truth?
Reply #37 - Jun 2nd, 2011 at 2:46pm
 
progressiveslol wrote on Jun 2nd, 2011 at 2:34pm:
perceptions_now wrote on Jun 2nd, 2011 at 2:23pm:
I post this here, because it's relevant!


What if humanity depended on us using all the fossil fuels to invent ways of suriving major disasters. What then.

I give you crack pot idea against your crack pot idea of AGW and having to do something.


Who knows? We should never say, never, but that scenario is "somewhat less likely than Peak Oil & Climate Change".

The difference is that both Peak Energy & Climate Change are already on the radar and they are real & present dangers, now!

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Re: What's the Real truth?
Reply #38 - Jun 2nd, 2011 at 2:47pm
 


...

...

Quote:
For more than 2 million years our earth has cycled in and out of Ice Ages, accompanied by massive ice sheets accumulating over polar landmasses and a cold, desert-like global climate. Although the tropics during the Ice Age were still tropical, the temperate regions and sub-tropical regions were markedly different than they are today. There is a strong correlation between temperature and CO2 concentrations during this time.

Historically, glacial cycles of about 100,000 years are interupted by brief warm interglacial periods-- like the one we enjoy today. Changes in both temperatures and CO2 are considerable and generally synchronized, according to data analysis from ice and air samples collected over the last half century from permanent glaciers in Antarctica and other places. Interglacial periods of 15,000- 20,000 years provide a brief respite from the normal state of our natural world-- an Ice Age Climate. Our present interglacial vacation from the last Ice Age began about 18,000 years ago.

Over the last 400,000 years the natural upper limit of atmospheric CO2 concentrations is assumed from the ice core data to be about 300 ppm. Other studies using proxy such as plant stomata, however, indicate this may closer to the average value, at least over the last 15,000 years. Today, CO2 concentrations worldwide average about 380 ppm. Compared to former geologic periods, concentrations of CO2 in our atmosphere are still very small and may not have a statistically measurable effect on global temperatures. For example, during the Ordovician Period 460 million years ago CO2 concentrations were 4400 ppm while temperatures then were about the same as they are today.

Do rising atmospheric CO2 concentrations cause increasing global temperatures, or could it be the other way around? This is one of the questions being debated today. Interestingly, CO2 lags an average of about 800 years behind the temperature changes-- confirming that CO2 is not the cause of the temperature increases. One thing is certain-- earth's climate has been warming and cooling on it's own for at least the last 400,000 years, as the data below show. At year 18,000 and counting in our current interglacial vacation from the Ice Age, we may be due-- some say overdue-- for return to another icehouse climate!



http://www.geocraft.com/WVFossils/last_400k_yrs.html
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Re: What's the Real truth?
Reply #39 - Jun 2nd, 2011 at 3:16pm
 


...


This is the alarming graph. Suddenly it looks as though co2 has gone off the radar.  What will hurt the ecosystem is the rate of change. No plant or animal will be able to evolve in time for the change.

Worldwide temperature data is showing a clear warming.  There is no peer researched data which is not falling into line with the global warming theory.
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Re: What's the Real truth?
Reply #40 - Jun 2nd, 2011 at 3:27pm
 
Doctor Jolly wrote on Jun 2nd, 2011 at 3:16pm:
http://www.geocraft.com/WVFossils/PageMill_Images/CO2_0-400k_yrs.gif


This is the alarming graph. Suddenly it looks as though co2 has gone off the radar.  What will hurt the ecosystem is the rate of change. No plant or animal will be able to evolve in time for the change.

Worldwide temperature data is showing a clear warming.  There is no peer researched data which is not falling into line with the global warming theory.


And you completely missed the corelation between historic Co2 levels and historic temperatures, didn't you???
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Re: What's the Real truth?
Reply #41 - Jun 2nd, 2011 at 4:14pm
 
gizmo_2655 wrote on Jun 2nd, 2011 at 3:27pm:
Doctor Jolly wrote on Jun 2nd, 2011 at 3:16pm:
http://www.geocraft.com/WVFossils/PageMill_Images/CO2_0-400k_yrs.gif


This is the alarming graph. Suddenly it looks as though co2 has gone off the radar.  What will hurt the ecosystem is the rate of change. No plant or animal will be able to evolve in time for the change.

Worldwide temperature data is showing a clear warming.  There is no peer researched data which is not falling into line with the global warming theory.


And you completely missed the corelation between historic Co2 levels and historic temperatures, didn't you???

lol he didnt even see that CO2 followed the temps and didnt drive them. IPCC loves his type of mushroom, oh and skip.
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Re: What's the Real truth?
Reply #42 - Jun 2nd, 2011 at 4:20pm
 
Both these graphs are highly misleading for anything over a few thousand years.   No data is reliable after that.  Thats basic science.

The problem with the misuse of scientific data is the they grab one bit of data from one source, ignore the error component, plonk it into excel and produce whatever they want.

Here they are trying to potray everything as absolutely normal, except they forgot to chop off the last few decades on the co2 graph.

World temperature has been rising. Perhaps they chopped that off the temp graph, or found one of the temp samples that bucked the trend. But across all samples, the world is warming.

Its very mischeivious for sham artists to misuse data like this, and then expect non-scientific review to be anywhere near accurate.  Climate scientists is an amazingly complex field. Anyone who has not worked in the field for a good couple of decades shouldnt be trying to draw their own conclusions.

I dont advice rocket scientists how to build rockets, and neither should you.
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Re: What's the Real truth?
Reply #43 - Jun 2nd, 2011 at 4:36pm
 

Skeptics seem to be focussed on fudging data to show that we can beltch out a few billion tonnes of c02 every year and it will have no effect.

Even the simpliest of minds, must wonder what is happening to that co2. Where is it going, and what is it doing.

It must be impossible to believe that we can continue to beltch out that much, exponentially increasing, ad infinitum, and not cause any changes ?

Even if you can convince yourself the world is not warming ( it is) but is the sea not getting more carbonic ?  Is sealife producing smaller shells ?, impacting the food chain. ?  Are the hundreds of other consequences not concerning you ?

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Re: What's the Real truth?
Reply #44 - Jun 2nd, 2011 at 4:46pm
 
Doctor Jolly wrote on Jun 2nd, 2011 at 4:36pm:
Skeptics seem to be focussed on fudging data to show that we can beltch out a few billion tonnes of c02 every year and it will have no effect.

Even the simpliest of minds, must wonder what is happening to that co2. Where is it going, and what is it doing.

It must be impossible to believe that we can continue to beltch out that much, exponentially increasing, ad infinitum, and not cause any changes ?

Even if you can convince yourself the world is not warming ( it is) but is the sea not getting more carbonic ?  Is sealife producing smaller shells ?, impacting the food chain. ?  Are the hundreds of other consequences not concerning you ?


Big numbers seem really really big hey. But in the scheme of things, is a drop of water in a 100ltr tank very BIG to you.
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Re: What's the Real truth?
Reply #45 - Jun 2nd, 2011 at 5:03pm
 
gizmo_2655 wrote on Jun 2nd, 2011 at 2:23pm:
philperth2010 wrote on Jun 2nd, 2011 at 7:35am:
Put simply, the crucial questions are very straight forward -
1) What are the likely costs, benefits & losses involved, IF humanity were to proceed on MY scenario that Climate Change is a reality and it turned out that my Climate Change scenario was -
a) Correct!
b) Incorrect!


a) The world would be better placed to provide sustainable energy supplies and would have moved to alternative fuels!!!

b) The world would be better placed to provide sustainable energy supplies and would have moved to alternative fuels!!!

2) What are the likely costs, benefits & losses involved, IF humanity were to proceed on the scenario that Climate Change is NOT a reality and it turned out that Climate Change scenario was -
a) Correct!
b) Incorrect!


a) The world would be struggling to provide sustainable energy supplies where alternative fuels would be expensive and hard to resource....Our planet would be in real trouble!!!

b) The world would be struggling to provide sustainable energy supplies where alternative fuels would be expensive and hard to resource....Our planet would be in real trouble!!!


It makes no difference weather climate change is real or not.....fossil fuels are dwindling fast.....when supply becomes even more erratic the price will sky rocket.....We cannot afford to wait and hope cheap fuel will last forever!!!


Phil, that's a ridiculous response...
The planet would NOT 'be in real trouble' in the event of Q2a...
Nor for that matter, in Q2b.....
If (or rather when) fossil fuels 'run out' or run low, humanity will simply change to alternative energy sources....

Your responses to Q1 apply equally to Q2...

PN's original 'crucial questions' are in fact the very same question, reworded....


Simply change to alternative energy sources....that would be developed and manufactured by whom.....I think you have just confirmed the importance of a policy that provides initiatives to change to renewable energy......Doing nothing is not a solution!!!

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Re: What's the Real truth?
Reply #46 - Jun 2nd, 2011 at 5:10pm
 
I love a sunburnt country,
A land of sweeping plains,
Of ragged mountain ranges,
Of droughts and flooding rains.
I love her far horizons,
I love her jewel-sea,
Her beauty and her terror
The wide brown land for me!

And we get these end of the earth people in tin foil hats telling us droughts and flooding rains never happened before and its caused by man. "you might fool refo's who are new to this land with that bulldust"
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Re: What's the Real truth?
Reply #47 - Jun 2nd, 2011 at 6:50pm
 
perceptions_now wrote on Jun 2nd, 2011 at 2:23pm:
I post this here, because it's relevant!

Soren wrote on Jun 2nd, 2011 at 12:00pm:
AGW is real and we do
something
- cost is equal to the cost of what we are doing. Whether it is effective is unknown as the effects of AGW are unknown.
nothing - cost is equal to the effects of AGW (unknown).



AGW is not real and we do  
Something
 - cost is equal to the cost of whatever we are doing but it is all pointless waste as far as the climate is concerned
nothing - no cost.



A sober assessment indicates that it is better to wait and see what happoens and spend the money on coping with any change that may eventuate than to start spending in advance on a change that we do not fully understand either in scope or whether it is going to happen at all.

It is certainly much more prudent to explore ways of capturing and storing CO2 than to cripple industry and global development.






1) What are the likely costs, benefits & losses involved, IF humanity were to proceed on MY scenario that Climate Change is a reality and it turned out that my Climate Change scenario was -
a) Correct!


We, the current batch of humans, would have done whatever we could to prevent a catastrophe and we would have done so on the user pays principle. At least, we would not have completely postponed any costs, exclusively to future generations, so that we could continue to pander to our own immediate whims!

There is no denying that the costs of taking action now, would be significant and when combined with what is already happening relevant to -
1) Demographics - The Baby Boomer Bust.
2) Peak Energy.
3) Massive Global Debt overload.
those costs would most likely make the upcoming Depression, very long & even more painfull.
In relative GDP terms, if all countries chipped in now, then the cost could perhaps be at least 5% of GDP.

However, an overrider is that it must be an all in approach, if some of the larger Economies such as the USA, China, India, Europe and even Australia do not play ball fairly, then whatever is done is likely not to bear fruit and failure will have severe costs!  

b) Incorrect!

Then we will unnecessarily have exacerbated a Depression, into a severe Depression.

2) What are the likely costs, benefits & losses involved, IF humanity were to proceed on the scenario that Climate Change is NOT a reality and it turned out that Climate Change scenario was -
a) Correct!

Then we will unnecessarily have exacerbated a Depression, into a severe Depression.

b) Incorrect!

IF action does not start fairly soon on both Climate Change & Peak Energy, then the results would be -
* The entire Global Economy may vanish!
* A catastrophe, in human loss of life, on a Biblical scale!

The basic difference between the two approaches, is that if we accept there may be a Threat, then we will have simply followed good business practices and acted on the SWOT approach, which is simply a strategic planning method used to evaluate the Strengths, Weaknesses, Opportunities, and Threats involved in any project, Private business venture and Governments, at all levels.

We will have detected possible Threats, such as Climate Change & Peak Energy and done our Due Diligence, to see that future generations had a reasonable chance of living a life worth living.

In other words, we (collectively) will simply have done what good businesses, governments & individuals should do, every day and what most actually do.

We have assessed the Strengths, Weaknesses, Opportunities & Threats, several significant Threats have appeared and we have treated them according to their priority. These threats, whilst some may say they are not overwhelming, nor perhaps even likely, they are of such a size, if they become reality, that we CAN NOT IGNORE THEM.

So, we do what good business pratice dictates, we look at insurance to cover the RISK of SYSTEMIC MELTDOWN, by getting everyone to pitch in a bit every year,  as preventative measures and we take all possible mitigation measures, to try to prevent the systemic meltdown of the Business/Government/Global Economy.    

The likely outcomes of two scenario's is the same, we simply make a bad scenario worse.

If we assume that Climate Change is real, it turns out to be real, we take proper Business Risk mitgation and everyone joins in, then humanity & the Economy, still has hope.

If we assume that Climate Change is NOT real,  but it turns out to be real, we continue with Business as usual and do nothing, then humanity & the Economy, losses all hope and we really are doomed.


And, here was me, thinking that some of those on the Conservative Right, who seem to think that Business is their domain, may have commented, on what are standard business practices?

But, it's just further proof that the myth of Economic infallibility that many Conservatives raise, is just that, it's a myth!

If anyone ran a business, like some of you want to approach Climate Change & Peak Energy, then you would most likely be in the 50% of businesses that fail, in the first 12 months!  
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Re: What's the Real truth?
Reply #48 - Jun 2nd, 2011 at 7:08pm
 
Doctor Jolly wrote on Jun 2nd, 2011 at 4:36pm:
Skeptics seem to be focussed on fudging data to show that we can beltch out a few billion tonnes of c02 every year and it will have no effect.

Even the simpliest of minds, must wonder what is happening to that co2. Where is it going, and what is it doing.

It must be impossible to believe that we can continue to beltch out that much, exponentially increasing, ad infinitum, and not cause any changes ?

Even if you can convince yourself the world is not warming ( it is) but is the sea not getting more carbonic ?  Is sealife producing smaller shells ?, impacting the food chain. ?  Are the hundreds of other consequences not concerning you ?





Meanwhile the gullible gerties agree with the proved fudged figures from the scaremongering global warmists.
Like the famous Hockey stick which the global warmists lied and created the data to fool the gerties.
Oh and the hockey stick was the worst that the scaremongerers could conjure up, yet it is nothing to worry about when compared to our earlier history!





You know, when you are trying to convince the world of 'something' it is not a good idea not to lie about the data like the global warmist Michael Mann did.
If you're right about something then there's no need to fudge or conjure up the data or straight out lie like Michael Mann did.
And now that Michael Mann has been exposed for lieing about scientific data then whatever credibility he once had is now all gone.
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Re: What's the Real truth?
Reply #49 - Jun 2nd, 2011 at 9:18pm
 
perceptions_now wrote on Jun 2nd, 2011 at 6:50pm:
perceptions_now wrote on Jun 2nd, 2011 at 2:23pm:
I post this here, because it's relevant!

1) What are the likely costs, benefits & losses involved, IF humanity were to proceed on MY scenario that Climate Change is a reality and it turned out that my Climate Change scenario was -
a) Correct!


We, the current batch of humans, would have done whatever we could to prevent a catastrophe and we would have done so on the user pays principle. At least, we would not have completely postponed any costs, exclusively to future generations, so that we could continue to pander to our own immediate whims!

There is no denying that the costs of taking action now, would be significant and when combined with what is already happening relevant to -
1) Demographics - The Baby Boomer Bust.
2) Peak Energy.
3) Massive Global Debt overload.
those costs would most likely make the upcoming Depression, very long & even more painfull.
In relative GDP terms, if all countries chipped in now, then the cost could perhaps be at least 5% of GDP.

However, an overrider is that it must be an all in approach, if some of the larger Economies such as the USA, China, India, Europe and even Australia do not play ball fairly, then whatever is done is likely not to bear fruit and failure will have severe costs!  

b) Incorrect!

Then we will unnecessarily have exacerbated a Depression, into a severe Depression.

2) What are the likely costs, benefits & losses involved, IF humanity were to proceed on the scenario that Climate Change is NOT a reality and it turned out that Climate Change scenario was -
a) Correct!

Then we will unnecessarily have exacerbated a Depression, into a severe Depression.

b) Incorrect!

IF action does not start fairly soon on both Climate Change & Peak Energy, then the results would be -
* The entire Global Economy may vanish!
* A catastrophe, in human loss of life, on a Biblical scale!

The basic difference between the two approaches, is that if we accept there may be a Threat, then we will have simply followed good business practices and acted on the SWOT approach, which is simply a strategic planning method used to evaluate the Strengths, Weaknesses, Opportunities, and Threats involved in any project, Private business venture and Governments, at all levels.

We will have detected possible Threats, such as Climate Change & Peak Energy and done our Due Diligence, to see that future generations had a reasonable chance of living a life worth living.

In other words, we (collectively) will simply have done what good businesses, governments & individuals should do, every day and what most actually do.

We have assessed the Strengths, Weaknesses, Opportunities & Threats, several significant Threats have appeared and we have treated them according to their priority. These threats, whilst some may say they are not overwhelming, nor perhaps even likely, they are of such a size, if they become reality, that we CAN NOT IGNORE THEM.

So, we do what good business pratice dictates, we look at insurance to cover the RISK of SYSTEMIC MELTDOWN, by getting everyone to pitch in a bit every year,  as preventative measures and we take all possible mitigation measures, to try to prevent the systemic meltdown of the Business/Government/Global Economy.    

The likely outcomes of two scenario's is the same, we simply make a bad scenario worse.

If we assume that Climate Change is real, it turns out to be real, we take proper Business Risk mitgation and everyone joins in, then humanity & the Economy, still has hope.

If we assume that Climate Change is NOT real,  but it turns out to be real, we continue with Business as usual and do nothing, then humanity & the Economy, losses all hope and we really are doomed.


And, here was me, thinking that some of those on the Conservative Right, who seem to think that Business is their domain, may have commented, on what are standard business practices?

But, it's just further proof that the myth of Economic infallibility that many Conservatives raise, is just that, it's a myth!

If anyone ran a business, like some of you want to approach Climate Change & Peak Energy, then you would most likely be in the 50% of businesses that fail, in the first 12 months!  


No comment from the Conservative "think" tankers - Maqqa, Cods, LW & associates.

I'll take that as confirmation that the Conservative/Liberal Economic managers myth, is dead & buried!!!
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Re: What's the Real truth?
Reply #50 - Jun 2nd, 2011 at 9:20pm
 
creep wrote on Jun 2nd, 2011 at 7:08pm:
Meanwhile the gullible gerties agree with the proved fudged figures from the scaremongering global warmists.
Like the famous Hockey stick which the global warmists lied and created the data to fool the gerties.
Oh and the hockey stick was the worst that the scaremongerers could conjure up, yet it is nothing to worry about when compared to our earlier history!





You know, when you are trying to convince the world of 'something' it is not a good idea not to lie about the data like the global warmist Michael Mann did.
If you're right about something then there's no need to fudge or conjure up the data or straight out lie like Michael Mann did.
And now that Michael Mann has been exposed for lieing about scientific data then whatever credibility he once had is now all gone.

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Re: What's the Real truth?
Reply #51 - Jun 2nd, 2011 at 10:49pm
 
Doctor Jolly wrote on Jun 2nd, 2011 at 4:20pm:
Both these graphs are highly misleading for anything over a few thousand years.   No data is reliable after that.  Thats basic science.

The problem with the misuse of scientific data is the they grab one bit of data from one source, ignore the error component, plonk it into excel and produce whatever they want.

Here they are trying to potray everything as absolutely normal, except they forgot to chop off the last few decades on the co2 graph.

World temperature has been rising. Perhaps they chopped that off the temp graph, or found one of the temp samples that bucked the trend. But across all samples, the world is warming.

Its very mischeivious for sham artists to misuse data like this, and then expect non-scientific review to be anywhere near accurate.  Climate scientists is an amazingly complex field. Anyone who has not worked in the field for a good couple of decades shouldnt be trying to draw their own conclusions.

I dont advice rocket scientists how to build rockets, and neither should you.



No, but perhaps you should find someone to help interpret graphs??

According to those ice core measurements (which the IPCC use), just over 120,000 years ago, the Co2 level was 100ppm LOWER than now, but the temperature was +/-3 degrees HIGHER than now...

This is hard data, checked AND in a peer-reviewed journal..
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It's similar to a strawman fallacy"
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Re: What's the Real truth?
Reply #52 - Jun 2nd, 2011 at 10:55pm
 
Sprintcyclist wrote on Jun 2nd, 2011 at 2:47pm:


I love how proxy temperatures are fine when they think it supports their case but unreliable when it doesn't! Roll Eyes

But, the argument is bunk anyway:

...
Figure 1: Vostok ice core records for carbon dioxide concentration (Petit 2000) and temperature change (Barnola 2003).

...
Figure 2: The three main orbital variations. Eccentricity: changes in the shape of the Earth’s orbit.Obliquity: changes in the tilt of the Earth’s rotational axis. Precession: wobbles in the Earth’s rotational axis.

Quote:
Over the last half million years, our climate has experienced long ice ages regularly punctuated by brief warm periods called interglacials. Atmospheric carbon dioxide closely matches the cycle, increasing by around 80 to 100 parts per million as Antarctic temperatures warm up to 10°C. However, when you look closer, CO2 actually lags temperature by around 1000 years. While this result was predicted two decades ago (Lorius 1990), it still surprises and confuses many. Does warming cause CO2 rise or the other way around? In actuality, the answer is both.

Interglacials come along approximately every 100,000 years. This is called the Milankovitch cycle, brought on by changes in the Earth's orbit. There are three main changes to the earth's orbit. The shape of the Earth's orbit around the sun (eccentricity) varies between an ellipse to a more circular shape. The earth's axis is tilted relative to the sun at around 23°. This tilt oscillates between 22.5° and 24.5° (obliquity). As the earth spins around it's axis, the axis wobbles from pointing towards the North Star to pointing at the star Vega (precession).

The combined effect of these orbital cycles cause long term changes in the amount of sunlight hitting the earth at different seasons, particularly at high latitudes. For example, around 18,000 years ago, there was an increase in the amount of sunlight hitting the Southern Hemisphere during the southern spring. This lead to retreating Antarctic sea ice and melting glaciers in the Southern Hemisphere.(Shemesh 2002). The ice loss had a positive feedback effect with less ice reflecting sunlight back into space (decreased albedo). This enhanced the warming.

As the Southern Ocean warms, the solubility of CO2 in water falls (Martin 2005). This causes the oceans to give up more CO2, emitting it into the atmosphere. The exact mechanism of how the deep ocean gives up its CO2 is not fully understood but believed to be related to vertical ocean mixing (Toggweiler 1999). The process takes around 800 to 1000 years, so CO2 levels are observed to rise around 1000 years after the initial warming (Monnin 2001, Mudelsee 2001).

The outgassing of CO2 from the ocean has several effects. The increased CO2 in the atmosphere amplifies the original warming. The relatively weak forcing from Milankovitch cycles is insufficient to cause the dramatic temperature change taking our climate out of an ice age (this period is called a deglaciation). However, the amplifying effect of CO2 is consistent with the observed warming.

CO2 from the Southern Ocean also mixes through the atmosphere, spreading the warming north (Cuffey 2001). Tropical marine sediments record warming in the tropics around 1000 years after Antarctic warming, around the same time as the CO2 rise (Stott 2007). Ice cores in Greenland find that warming in the Northern Hemisphere lags the Antarctic CO2 rise (Caillon 2003).

To claim that the CO2 lag disproves the warming effect of CO2 displays a lack of understanding of the processes that drive Milankovitch cycles. A review of the peer reviewed research into past periods of deglaciation tells us several things:

  • Deglaciation is not initiated by CO2 but by orbital cycles
  • CO2 amplifies the warming which cannot be explained by orbital cycles alone
  • CO2 spreads warming throughout the planet
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Andrei.Hicks wrote on Sep 11th, 2011 at 11:23am:
So tell me, you'd like to see more and more craphouse coloured people in Australia right?&&Yeah good idea moron.&&
 
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Re: What's the Real truth?
Reply #53 - Jun 2nd, 2011 at 10:56pm
 
gizmo_2655 wrote on Jun 2nd, 2011 at 10:49pm:
Doctor Jolly wrote on Jun 2nd, 2011 at 4:20pm:
Both these graphs are highly misleading for anything over a few thousand years.   No data is reliable after that.  Thats basic science.

The problem with the misuse of scientific data is the they grab one bit of data from one source, ignore the error component, plonk it into excel and produce whatever they want.

Here they are trying to potray everything as absolutely normal, except they forgot to chop off the last few decades on the co2 graph.

World temperature has been rising. Perhaps they chopped that off the temp graph, or found one of the temp samples that bucked the trend. But across all samples, the world is warming.

Its very mischeivious for sham artists to misuse data like this, and then expect non-scientific review to be anywhere near accurate.  Climate scientists is an amazingly complex field. Anyone who has not worked in the field for a good couple of decades shouldnt be trying to draw their own conclusions.

I dont advice rocket scientists how to build rockets, and neither should you.



No, but perhaps you should find someone to help interpret graphs??

According to those ice core measurements (which the IPCC use), just over 120,000 years ago, the Co2 level was 100ppm LOWER than now, but the temperature was +/-3 degrees HIGHER than now...

This is hard data, checked AND in a peer-reviewed journal..



You will also find that the global warmists will claim that the Arctic is melting due to global warming.
What the global warmists won't tell you is that the global warmists initially claimed that the Arctic was getting bigger due to global warming. They even had a model to prove it, but then the global warmists discovered that teh ARctic was actually melting, so the global warmists changed their model and viola that now proves that global warming is causing the Arctic to melt.

So let's apply that revised global warming model to the Antartic!

Also the global warmists won't tell you that the Antartic growing. And the Antartic is 2-3 times the size of the Arctic.
So the Arctic is shrinking but the Antartic is growing - both must be due to global warming!!!
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Re: What's the Real truth?
Reply #54 - Jun 2nd, 2011 at 10:59pm
 
Quote:
No comment from the Conservative "think" tankers - Maqqa, Cods, LW & associates.

I'll take that as confirmation that the Conservative/Liberal Economic managers myth, is dead & buried!!!


Perhaps PERCEPTION WE LIKE TO DEAL WITH GROUNDED REALITY OF TODAY, INSTEAD OF YOUR SCENARIOS OF IFS AND IFS AND MAYBES OF TOMORROW.
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Re: What's the Real truth?
Reply #55 - Jun 2nd, 2011 at 10:59pm
 
philperth2010 wrote on Jun 2nd, 2011 at 5:03pm:
gizmo_2655 wrote on Jun 2nd, 2011 at 2:23pm:
philperth2010 wrote on Jun 2nd, 2011 at 7:35am:
Put simply, the crucial questions are very straight forward -
1) What are the likely costs, benefits & losses involved, IF humanity were to proceed on MY scenario that Climate Change is a reality and it turned out that my Climate Change scenario was -
a) Correct!
b) Incorrect!


a) The world would be better placed to provide sustainable energy supplies and would have moved to alternative fuels!!!

b) The world would be better placed to provide sustainable energy supplies and would have moved to alternative fuels!!!

2) What are the likely costs, benefits & losses involved, IF humanity were to proceed on the scenario that Climate Change is NOT a reality and it turned out that Climate Change scenario was -
a) Correct!
b) Incorrect!


a) The world would be struggling to provide sustainable energy supplies where alternative fuels would be expensive and hard to resource....Our planet would be in real trouble!!!

b) The world would be struggling to provide sustainable energy supplies where alternative fuels would be expensive and hard to resource....Our planet would be in real trouble!!!


It makes no difference weather climate change is real or not.....fossil fuels are dwindling fast.....when supply becomes even more erratic the price will sky rocket.....We cannot afford to wait and hope cheap fuel will last forever!!!


Phil, that's a ridiculous response...
The planet would NOT 'be in real trouble' in the event of Q2a...
Nor for that matter, in Q2b.....
If (or rather when) fossil fuels 'run out' or run low, humanity will simply change to alternative energy sources....

Your responses to Q1 apply equally to Q2...

PN's original 'crucial questions' are in fact the very same question, reworded....


Simply change to alternative energy sources....that would be developed and manufactured by whom.....I think you have just confirmed the importance of a policy that provides initiatives to change to renewable energy......Doing nothing is not a solution!!!



I've never been against changing to renewable energy...

What I AM against is artificially increasing the prices of current energy sources to make renewables 'appear' more competitive( Carbon Tax), instead of developing the technology to actually make renewables cheaper..

And I'm against causing panic through 'horror' stories in the attempt to 'hurry' the changeover for political, idealogical, and financial reasons...to the detriment of economic and living standards... (Anthropogenic Climate Change)
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"I just get sick of people who place a label on someone else with their own definition.

It's similar to a strawman fallacy"
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Re: What's the Real truth?
Reply #56 - Jun 2nd, 2011 at 11:01pm
 
creep wrote on Jun 2nd, 2011 at 10:56pm:
You will also find that the global warmists will claim that the Arctic is melting due to global warming.
What the global warmists won't tell you is that the global warmists initially claimed that the Arctic was getting bigger due to global warming. They even had a model to prove it, but then the global warmists discovered that teh ARctic was actually melting, so the global warmists changed their model and viola that now proves that global warming is causing the Arctic to melt.

So let's apply that revised global warming model to the Antartic!

Also the global warmists won't tell you that the Antartic growing. And the Antartic is 2-3 times the size of the Arctic.
So the Arctic is shrinking but the Antartic is growing - both must be due to global warming!!!


You spastic! You have confused the Arctic with the Antarctic, you numpty. The Arctic IS melting rapidly. And, while Antarctica isn't warming nearly as rapidly as the Arctic, it DOES appear to be losing ice mass in areas not predicted to do so for a number of decades yet. Climate models did predict such a warming but it is happening faster than ever predicted.

So, far from models being 'alarmist", they are proving again and again to have been far to conservative in their projections. There IS uncertainty and unluckily for us that uncertainty is ALL on the side of just how bad it will be, not whether it is happening or not.
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Andrei.Hicks wrote on Sep 11th, 2011 at 11:23am:
So tell me, you'd like to see more and more craphouse coloured people in Australia right?&&Yeah good idea moron.&&
 
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Re: What's the Real truth?
Reply #57 - Jun 2nd, 2011 at 11:03pm
 
So now the Arctic is melting rapidly!!!!
LOL

I guess it will all be gone by when? next week?
next month? next year?

But how come the Antartic is getting bigger in size?

Guess that side of our planet isn't exposed to global warming.

And to think that the global warmists tried to use their same model on the Antartic as they did on the Arctic....gee guess they have to change their model again!
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Re: What's the Real truth?
Reply #58 - Jun 2nd, 2011 at 11:08pm
 
astro_surf wrote on Jun 2nd, 2011 at 10:55pm:
Sprintcyclist wrote on Jun 2nd, 2011 at 2:47pm:


I love how proxy temperatures are fine when they think it supports their case but unreliable when it doesn't! Roll Eyes

But, the argument is bunk anyway:

http://www.skepticalscience.com/images/Milankovitch_Cycles_400000.gif
Figure 1: Vostok ice core records for carbon dioxide concentration (Petit 2000) and temperature change (Barnola 2003).

http://www.skepticalscience.com/images/Milankovitch_Cycles.jpg
Figure 2: The three main orbital variations. Eccentricity: changes in the shape of the Earth’s orbit.Obliquity: changes in the tilt of the Earth’s rotational axis. Precession: wobbles in the Earth’s rotational axis.

Quote:
Over the last half million years, our climate has experienced long ice ages regularly punctuated by brief warm periods called interglacials. Atmospheric carbon dioxide closely matches the cycle, increasing by around 80 to 100 parts per million as Antarctic temperatures warm up to 10°C. However, when you look closer, CO2 actually lags temperature by around 1000 years. While this result was predicted two decades ago (Lorius 1990), it still surprises and confuses many. Does warming cause CO2 rise or the other way around? In actuality, the answer is both.

Interglacials come along approximately every 100,000 years. This is called the Milankovitch cycle, brought on by changes in the Earth's orbit. There are three main changes to the earth's orbit. The shape of the Earth's orbit around the sun (eccentricity) varies between an ellipse to a more circular shape. The earth's axis is tilted relative to the sun at around 23°. This tilt oscillates between 22.5° and 24.5° (obliquity). As the earth spins around it's axis, the axis wobbles from pointing towards the North Star to pointing at the star Vega (precession).

The combined effect of these orbital cycles cause long term changes in the amount of sunlight hitting the earth at different seasons, particularly at high latitudes. For example, around 18,000 years ago, there was an increase in the amount of sunlight hitting the Southern Hemisphere during the southern spring. This lead to retreating Antarctic sea ice and melting glaciers in the Southern Hemisphere.(Shemesh 2002). The ice loss had a positive feedback effect with less ice reflecting sunlight back into space (decreased albedo). This enhanced the warming.

As the Southern Ocean warms, the solubility of CO2 in water falls (Martin 2005). This causes the oceans to give up more CO2, emitting it into the atmosphere. The exact mechanism of how the deep ocean gives up its CO2 is not fully understood but believed to be related to vertical ocean mixing (Toggweiler 1999). The process takes around 800 to 1000 years, so CO2 levels are observed to rise around 1000 years after the initial warming (Monnin 2001, Mudelsee 2001).

The outgassing of CO2 from the ocean has several effects. The increased CO2 in the atmosphere amplifies the original warming. The relatively weak forcing from Milankovitch cycles is insufficient to cause the dramatic temperature change taking our climate out of an ice age (this period is called a deglaciation). However, the amplifying effect of CO2 is consistent with the observed warming.

CO2 from the Southern Ocean also mixes through the atmosphere, spreading the warming north (Cuffey 2001). Tropical marine sediments record warming in the tropics around 1000 years after Antarctic warming, around the same time as the CO2 rise (Stott 2007). Ice cores in Greenland find that warming in the Northern Hemisphere lags the Antarctic CO2 rise (Caillon 2003).

To claim that the CO2 lag disproves the warming effect of CO2 displays a lack of understanding of the processes that drive Milankovitch cycles. A review of the peer reviewed research into past periods of deglaciation tells us several things:

  • Deglaciation is not initiated by CO2 but by orbital cycles
  • CO2 amplifies the warming which cannot be explained by orbital cycles alone
  • CO2 spreads warming throughout the planet


Good luck, with your scientific explanations, Astro!

I don't bother, as much these days, because it has become obvious that most peoples believe system is fixed and nothing short of a waking up one morning to the news that there is no ice on both polar caps, has any remote possibility of changing those set beliefs!

In fact, those that suggest they are diehard Conservative/Liberals, even refuse to believe standard business & pratices are also the proper course of action, just because Climate Change is involved.

The situation may not be irretrievable yet, but I don't see any of these idiots changing their mindsets, so the situation may well run for just a little too long and at some point, it will be too late.

Good luck & watch the Debt!

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Re: What's the Real truth?
Reply #59 - Jun 2nd, 2011 at 11:16pm
 
Here's one for the gerties



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Re: What's the Real truth?
Reply #60 - Jun 2nd, 2011 at 11:16pm
 



Thats pretty much sums up the CLIMATE CHANGE DOOM AND GLOOM CULT.

Enjoy,  Grin Grin Grin Grin
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Re: What's the Real truth?
Reply #61 - Jun 2nd, 2011 at 11:24pm
 
stryder wrote on Jun 2nd, 2011 at 11:16pm:



Thats pretty much sums up the CLIMATE CHANGE DOOM AND GLOOM CULT.

Enjoy,  Grin Grin Grin Grin




LOL
very good
And very true and appropriate
The sheep will believe this bull (about climate change)



Good to see that the Antartica got a mention too LOL
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Re: What's the Real truth?
Reply #62 - Jun 3rd, 2011 at 11:24am
 
perceptions_now wrote on Jun 2nd, 2011 at 9:18pm:
perceptions_now wrote on Jun 2nd, 2011 at 6:50pm:
perceptions_now wrote on Jun 2nd, 2011 at 2:23pm:
I post this here, because it's relevant!

1) What are the likely costs, benefits & losses involved, IF humanity were to proceed on MY scenario that Climate Change is a reality and it turned out that my Climate Change scenario was -
a) Correct!


We, the current batch of humans, would have done whatever we could to prevent a catastrophe and we would have done so on the user pays principle. At least, we would not have completely postponed any costs, exclusively to future generations, so that we could continue to pander to our own immediate whims!

There is no denying that the costs of taking action now, would be significant and when combined with what is already happening relevant to -
1) Demographics - The Baby Boomer Bust.
2) Peak Energy.
3) Massive Global Debt overload.
those costs would most likely make the upcoming Depression, very long & even more painfull.
In relative GDP terms, if all countries chipped in now, then the cost could perhaps be at least 5% of GDP.

However, an overrider is that it must be an all in approach, if some of the larger Economies such as the USA, China, India, Europe and even Australia do not play ball fairly, then whatever is done is likely not to bear fruit and failure will have severe costs!  

b) Incorrect!

Then we will unnecessarily have exacerbated a Depression, into a severe Depression.

2) What are the likely costs, benefits & losses involved, IF humanity were to proceed on the scenario that Climate Change is NOT a reality and it turned out that Climate Change scenario was -
a) Correct!

Then we will unnecessarily have exacerbated a Depression, into a severe Depression.

b) Incorrect!

IF action does not start fairly soon on both Climate Change & Peak Energy, then the results would be -
* The entire Global Economy may vanish!
* A catastrophe, in human loss of life, on a Biblical scale!

The basic difference between the two approaches, is that if we accept there may be a Threat, then we will have simply followed good business practices and acted on the SWOT approach, which is simply a strategic planning method used to evaluate the Strengths, Weaknesses, Opportunities, and Threats involved in any project, Private business venture and Governments, at all levels.

We will have detected possible Threats, such as Climate Change & Peak Energy and done our Due Diligence, to see that future generations had a reasonable chance of living a life worth living.

In other words, we (collectively) will simply have done what good businesses, governments & individuals should do, every day and what most actually do.

We have assessed the Strengths, Weaknesses, Opportunities & Threats, several significant Threats have appeared and we have treated them according to their priority. These threats, whilst some may say they are not overwhelming, nor perhaps even likely, they are of such a size, if they become reality, that we CAN NOT IGNORE THEM.

So, we do what good business pratice dictates, we look at insurance to cover the RISK of SYSTEMIC MELTDOWN, by getting everyone to pitch in a bit every year,  as preventative measures and we take all possible mitigation measures, to try to prevent the systemic meltdown of the Business/Government/Global Economy.    

The likely outcomes of two scenario's is the same, we simply make a bad scenario worse.

If we assume that Climate Change is real, it turns out to be real, we take proper Business Risk mitgation and everyone joins in, then humanity & the Economy, still has hope.

If we assume that Climate Change is NOT real,  but it turns out to be real, we continue with Business as usual and do nothing, then humanity & the Economy, losses all hope and we really are doomed.


And, here was me, thinking that some of those on the Conservative Right, who seem to think that Business is their domain, may have commented, on what are standard business practices?

But, it's just further proof that the myth of Economic infallibility that many Conservatives raise, is just that, it's a myth!

If anyone ran a business, like some of you want to approach Climate Change & Peak Energy, then you would most likely be in the 50% of businesses that fail, in the first 12 months!  


No comment from the Conservative "think" tankers - Maqqa, Cods, LW & associates.

I'll take that as confirmation that the Conservative/Liberal Economic managers myth, is dead & buried!!!


Still no comment from the CONservative "masters of Economics 101".

Their mythical kingdom is dead, long live the new king?
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Re: What's the Real truth?
Reply #63 - Jun 3rd, 2011 at 11:28am
 
perceptions_now wrote on Jun 3rd, 2011 at 11:24am:
perceptions_now wrote on Jun 2nd, 2011 at 9:18pm:
perceptions_now wrote on Jun 2nd, 2011 at 6:50pm:
perceptions_now wrote on Jun 2nd, 2011 at 2:23pm:
I post this here, because it's relevant!

1) What are the likely costs, benefits & losses involved, IF humanity were to proceed on MY scenario that Climate Change is a reality and it turned out that my Climate Change scenario was -
a) Correct!


We, the current batch of humans, would have done whatever we could to prevent a catastrophe and we would have done so on the user pays principle. At least, we would not have completely postponed any costs, exclusively to future generations, so that we could continue to pander to our own immediate whims!

There is no denying that the costs of taking action now, would be significant and when combined with what is already happening relevant to -
1) Demographics - The Baby Boomer Bust.
2) Peak Energy.
3) Massive Global Debt overload.
those costs would most likely make the upcoming Depression, very long & even more painfull.
In relative GDP terms, if all countries chipped in now, then the cost could perhaps be at least 5% of GDP.

However, an overrider is that it must be an all in approach, if some of the larger Economies such as the USA, China, India, Europe and even Australia do not play ball fairly, then whatever is done is likely not to bear fruit and failure will have severe costs!  

b) Incorrect!

Then we will unnecessarily have exacerbated a Depression, into a severe Depression.

2) What are the likely costs, benefits & losses involved, IF humanity were to proceed on the scenario that Climate Change is NOT a reality and it turned out that Climate Change scenario was -
a) Correct!

Then we will unnecessarily have exacerbated a Depression, into a severe Depression.

b) Incorrect!

IF action does not start fairly soon on both Climate Change & Peak Energy, then the results would be -
* The entire Global Economy may vanish!
* A catastrophe, in human loss of life, on a Biblical scale!

The basic difference between the two approaches, is that if we accept there may be a Threat, then we will have simply followed good business practices and acted on the SWOT approach, which is simply a strategic planning method used to evaluate the Strengths, Weaknesses, Opportunities, and Threats involved in any project, Private business venture and Governments, at all levels.

We will have detected possible Threats, such as Climate Change & Peak Energy and done our Due Diligence, to see that future generations had a reasonable chance of living a life worth living.

In other words, we (collectively) will simply have done what good businesses, governments & individuals should do, every day and what most actually do.

We have assessed the Strengths, Weaknesses, Opportunities & Threats, several significant Threats have appeared and we have treated them according to their priority. These threats, whilst some may say they are not overwhelming, nor perhaps even likely, they are of such a size, if they become reality, that we CAN NOT IGNORE THEM.

So, we do what good business pratice dictates, we look at insurance to cover the RISK of SYSTEMIC MELTDOWN, by getting everyone to pitch in a bit every year,  as preventative measures and we take all possible mitigation measures, to try to prevent the systemic meltdown of the Business/Government/Global Economy.    

The likely outcomes of two scenario's is the same, we simply make a bad scenario worse.

If we assume that Climate Change is real, it turns out to be real, we take proper Business Risk mitgation and everyone joins in, then humanity & the Economy, still has hope.

If we assume that Climate Change is NOT real,  but it turns out to be real, we continue with Business as usual and do nothing, then humanity & the Economy, losses all hope and we really are doomed.


And, here was me, thinking that some of those on the Conservative Right, who seem to think that Business is their domain, may have commented, on what are standard business practices?

But, it's just further proof that the myth of Economic infallibility that many Conservatives raise, is just that, it's a myth!

If anyone ran a business, like some of you want to approach Climate Change & Peak Energy, then you would most likely be in the 50% of businesses that fail, in the first 12 months!  


No comment from the Conservative "think" tankers - Maqqa, Cods, LW & associates.

I'll take that as confirmation that the Conservative/Liberal Economic managers myth, is dead & buried!!!


Still no comment from the CONservative "masters of Economics 101".

Their mythical kingdom is dead, long live the new king?

People have to agree that you exist in order to consider your SPAM. Maybe you are seen as a BOT that SPAMS message boards, so dont want to give legitimacy to you. Shame because you do come up with some pretty dumb questions that need you to carry its barrow because it need pushing due to lack of legitimacy.
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Re: What's the Real truth?
Reply #64 - Jun 3rd, 2011 at 11:30am
 
Tells us PERCEPTIONS ARE YOU GROUNDED IN REALITY OR SCENARIOS, ??????  Grin Grin Grin

That might give you an answer why nobody gives a **** to answer your IFS, IFS and MAYBES crap you keep posting..
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Re: What's the Real truth?
Reply #65 - Jun 3rd, 2011 at 12:06pm
 
creep wrote on Jun 2nd, 2011 at 11:24pm:
stryder wrote on Jun 2nd, 2011 at 11:16pm:



Thats pretty much sums up the CLIMATE CHANGE DOOM AND GLOOM CULT.

Enjoy,  Grin Grin Grin Grin



LOL
very good
And very true and appropriate
The sheep will believe this bull (about climate change)

Good to see that the Antartica got a mention too LOL


The great thing about the internet is that you can always find some crackpot that agrees with whatever crazy idea you can come up with.


You wont find a qualified person, but you'll find someone seeking their 15 minutes of fame.   Let the stupid rule!

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Re: What's the Real truth?
Reply #66 - Jun 3rd, 2011 at 12:48pm
 
I post this here, because it is relevant!

Soren wrote on Jun 2nd, 2011 at 11:15pm:
The question then is about the risk assessment - how sure can we be/are we that AGW is a reality and if it is a reality, what is it's magnitude, longitude and impact.




Soren,
You just don't get it and you never will, not matter what information is provided, nor what events take place,  you just can not accept anything outside your mindset!

That said, you ask, "how can we be sure".
Now that sounds much like what business ask for, "we are looking for certainty".

Well, let me tell you & business, THERE ARE FEW CERTAINTIES IN LIFE, ONLY DEATH & TAXATION COME TO MIND.

But, there is another "Law of Nature", which is also a certainty and that is, "exponential growth, in any finite environment, is impossible".

The truth is, as I have said previously, it really doesn't make any difference whether Climate Change is caused by us humans, although I am of the opinion that it has been materially affected by human input and the majority of world scientists agree.

The truth is, that the magnitude of what is happening is enormous. In fact, the combination of events, including -
1) Demographics.
2) Peak Energy (primarily Oil).
3) Climate Change.
4) Massive Global Debt overload.
are actually a once in history confluence of events, which will never happen again!
At least, not for many millions of years!

The truth is, we are nearing the end of the natural "mild climate cycle",  from here on the natural climate would start to warm too much, to accommodate (feed & water) 7 Billion people, let alone any more. But, those extra GHG's we are pumping into the environment is most likely speeding the process and the result will see a shorter gap to reaching the top of this warming period.

But, whether we blame ourselves or not, we are now racing against the clock, to find ways of living with a much different world environment, whilst coping with a massive Decline in available Energy Supplies, particularly in the liquids for transport area, but also accross all sectors.

This is no Right Vs Left Political game, at the very least this event will be a long drawn out Economic turnturn of massive proportions, but it may well be a struggle for the very survival of the species?

I have previously raised the anaolgy of Wile E Coyote chasing the run runner towards a cliff, the road runner knows what's coming and he can stop faster than Wile E Coyote can.

The road runner hits his brakes, followed quickly by Wile E Coyote, but because of the small delay in applying the brakes and the longer braking time, Wile E Coyote is left "hanging ten" on the edge of the cliff.

The road runner reaches out to grab Wile E and save him, but then thinks, if he saves the Coyote, then Wile E will just revert to his old habit of trying to kill the road runner.

So, the road runner gives good old Wile E Coyote the slightest of nudges, which is just enough to make Wile E over balance and send
him over the edge of the cliff, to his death below!


...

The moral of the story being, it's those small nudges, you gotta watch out for!


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progressiveslol
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Re: What's the Real truth?
Reply #67 - Jun 3rd, 2011 at 12:50pm
 
perceptions_now wrote on Jun 3rd, 2011 at 12:48pm:
I post this here, because it is relevant!

Soren wrote on Jun 2nd, 2011 at 11:15pm:
The question then is about the risk assessment - how sure can we be/are we that AGW is a reality and if it is a reality, what is it's magnitude, longitude and impact.




Soren,
You just don't get it and you never will, not matter what information is provided, nor what events take place,  you just can not accept anything outside your mindset!

That said, you ask, "how can we be sure".
Now that sounds much like what business ask for, "we are looking for certainty".

Well, let me tell you & business, THERE ARE FEW CERTAINTIES IN LIFE, ONLY DEATH & TAXATION COME TO MIND.

But, there is another "Law of Nature", which is also a certainty and that is, "exponential growth, in any finite environment, is impossible".

The truth is, as I have said previously, it really doesn't make any difference whether Climate Change is caused by us humans, although I am of the opinion that it has been materially affected by human input and the majority of world scientists agree.

The truth is, that the magnitude of what is happening is enormous. In fact, the combination of events, including -
1) Demographics.
2) Peak Energy (primarily Oil).
3) Climate Change.
4) Massive Global Debt overload.
are actually a once in history confluence of events, which will never happen again!
At least, not for many millions of years!

The truth is, we are nearing the end of the natural "mild climate cycle",  from here on the natural climate would start to warm too much, to accommodate (feed & water) 7 Billion people, let alone any more. But, those extra GHG's we are pumping into the environment is most likely speeding the process and the result will see a shorter gap to reaching the top of this warming period.

But, whether we blame ourselves or not, we are now racing against the clock, to find ways of living with a much different world environment, whilst coping with a massive Decline in available Energy Supplies, particularly in the liquids for transport area, but also accross all sectors.

This is no Right Vs Left Political game, at the very least this event will be a long drawn out Economic turnturn of massive proportions, but it may well be a struggle for the very survival of the species?

I have previously raised the anaolgy of Wile E Coyote chasing the run runner towards a cliff, the road runner knows what's coming and he can stop faster than Wile E Coyote can.

The road runner hits his brakes, followed quickly by Wile E Coyote, but because of the small delay in applying the brakes and the longer braking time, Wile E Coyote is left "hanging ten" on the edge of the cliff.

The road runner reaches out to grab Wile E and save him, but then thinks, if he saves the Coyote, then Wile E will just revert to his old habit of trying to kill the road runner.

So, the road runner gives good old Wile E Coyote the slightest of nudges, which is just enough to make Wile E over balance and send
him over the edge of the cliff, to his death below!


http://paulandlayne.com/wp-content/uploads/2009/12/wile-e-coyote-gravity1.jpg

The moral of the story being, it's those small nudges, you gotta watch out for!



If you really wanted to take risk assesment into it, then you would ask the question 'if I did this, what temperature change and when, can I expect'.
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Re: What's the Real truth?
Reply #68 - Jun 3rd, 2011 at 1:08pm
 
stryder wrote on Jun 3rd, 2011 at 11:30am:
Tells us PERCEPTIONS ARE YOU GROUNDED IN REALITY OR SCENARIOS, ??????  Grin Grin Grin

That might give you an answer why nobody gives a **** to answer your IFS, IFS and MAYBES crap you keep posting..




It can't be a person, it must be a spam bot trolling the boards.
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perceptions_now
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Re: What's the Real truth?
Reply #69 - Jun 3rd, 2011 at 2:49pm
 
creep wrote on Jun 3rd, 2011 at 1:08pm:
stryder wrote on Jun 3rd, 2011 at 11:30am:
Tells us PERCEPTIONS ARE YOU GROUNDED IN REALITY OR SCENARIOS, ??????  Grin Grin Grin

That might give you an answer why nobody gives a **** to answer your IFS, IFS and MAYBES crap you keep posting..




It can't be a person, it must be a spam bot trolling the boards.


I think you are looking for -
http://www.ozpolitic.com/forum/YaBB.pl?action=viewprofile;username=Maqqa
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Re: What's the Real truth?
Reply #70 - Jun 3rd, 2011 at 7:31pm
 
perceptions_now wrote on Jun 3rd, 2011 at 11:24am:
perceptions_now wrote on Jun 2nd, 2011 at 9:18pm:
perceptions_now wrote on Jun 2nd, 2011 at 6:50pm:
perceptions_now wrote on Jun 2nd, 2011 at 2:23pm:
I post this here, because it's relevant!

1) What are the likely costs, benefits & losses involved, IF humanity were to proceed on MY scenario that Climate Change is a reality and it turned out that my Climate Change scenario was -
a) Correct!


We, the current batch of humans, would have done whatever we could to prevent a catastrophe and we would have done so on the user pays principle. At least, we would not have completely postponed any costs, exclusively to future generations, so that we could continue to pander to our own immediate whims!

There is no denying that the costs of taking action now, would be significant and when combined with what is already happening relevant to -
1) Demographics - The Baby Boomer Bust.
2) Peak Energy.
3) Massive Global Debt overload.
those costs would most likely make the upcoming Depression, very long & even more painfull.
In relative GDP terms, if all countries chipped in now, then the cost could perhaps be at least 5% of GDP.

However, an overrider is that it must be an all in approach, if some of the larger Economies such as the USA, China, India, Europe and even Australia do not play ball fairly, then whatever is done is likely not to bear fruit and failure will have severe costs!  

b) Incorrect!

Then we will unnecessarily have exacerbated a Depression, into a severe Depression.

2) What are the likely costs, benefits & losses involved, IF humanity were to proceed on the scenario that Climate Change is NOT a reality and it turned out that Climate Change scenario was -
a) Correct!

Then we will unnecessarily have exacerbated a Depression, into a severe Depression.

b) Incorrect!

IF action does not start fairly soon on both Climate Change & Peak Energy, then the results would be -
* The entire Global Economy may vanish!
* A catastrophe, in human loss of life, on a Biblical scale!

The basic difference between the two approaches, is that if we accept there may be a Threat, then we will have simply followed good business practices and acted on the SWOT approach, which is simply a strategic planning method used to evaluate the Strengths, Weaknesses, Opportunities, and Threats involved in any project, Private business venture and Governments, at all levels.

We will have detected possible Threats, such as Climate Change & Peak Energy and done our Due Diligence, to see that future generations had a reasonable chance of living a life worth living.

In other words, we (collectively) will simply have done what good businesses, governments & individuals should do, every day and what most actually do.

We have assessed the Strengths, Weaknesses, Opportunities & Threats, several significant Threats have appeared and we have treated them according to their priority. These threats, whilst some may say they are not overwhelming, nor perhaps even likely, they are of such a size, if they become reality, that we CAN NOT IGNORE THEM.

So, we do what good business pratice dictates, we look at insurance to cover the RISK of SYSTEMIC MELTDOWN, by getting everyone to pitch in a bit every year,  as preventative measures and we take all possible mitigation measures, to try to prevent the systemic meltdown of the Business/Government/Global Economy.    

The likely outcomes of two scenario's is the same, we simply make a bad scenario worse.

If we assume that Climate Change is real, it turns out to be real, we take proper Business Risk mitgation and everyone joins in, then humanity & the Economy, still has hope.

If we assume that Climate Change is NOT real,  but it turns out to be real, we continue with Business as usual and do nothing, then humanity & the Economy, losses all hope and we really are doomed.


And, here was me, thinking that some of those on the Conservative Right, who seem to think that Business is their domain, may have commented, on what are standard business practices?

But, it's just further proof that the myth of Economic infallibility that many Conservatives raise, is just that, it's a myth!

If anyone ran a business, like some of you want to approach Climate Change & Peak Energy, then you would most likely be in the 50% of businesses that fail, in the first 12 months!  


No comment from the Conservative "think" tankers - Maqqa, Cods, LW & associates.

I'll take that as confirmation that the Conservative/Liberal Economic managers myth, is dead & buried!!!


Still no comment from the CONservative "masters of Economics 101".

Their mythical kingdom is dead, long live the new king?



Still no comment from the CONServative "masters of Economics 101".

Maqqam Cods, LW & the other CONS have no sensible rebuttal, so they have "left" their cause?  
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Re: What's the Real truth?
Reply #71 - Jun 3rd, 2011 at 10:36pm
 
There's no point in attempting to answer 'loaded', nonsensical statements...
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"I just get sick of people who place a label on someone else with their own definition.

It's similar to a strawman fallacy"
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Re: What's the Real truth?
Reply #72 - Jun 4th, 2011 at 12:20am
 
gizmo_2655 wrote on Jun 3rd, 2011 at 10:36pm:
There's no point in attempting to answer 'loaded', nonsensical statements...


So, tell me, what's loaded, about basic business processes?

The basic difference between the two approaches, is that if we accept there may be a Threat, then we will have simply followed good business practices and acted on the SWOT approach, which is simply a strategic planning method used to evaluate the Strengths, Weaknesses, Opportunities, and Threats involved in any project, Private business venture and Governments, at all levels.

We will have detected possible Threats, such as Climate Change & Peak Energy and done our Due Diligence, to see that future generations had a reasonable chance of living a life worth living.

In other words, we (collectively) will simply have done what good businesses, governments & individuals should do, every day and what most actually do.

We have assessed the Strengths, Weaknesses, Opportunities & Threats, several significant Threats have appeared and we have treated them according to their priority. These threats, whilst some may say they are not overwhelming, nor perhaps even likely, they are of such a size, if they become reality, that we CAN NOT IGNORE THEM.

So, we do what good business pratice dictates, we look at insurance to cover the RISK of SYSTEMIC MELTDOWN, by getting everyone to pitch in a bit every year,  as preventative measures and we take all possible mitigation measures, to try to prevent the systemic meltdown of the Business/Government/Global Economy.    


Frankly, none of you supposed CONServatives on here, know the first thing about business or the Climate Change issues, I haven't seen a coherent argument put from any of you!
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progressiveslol
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Re: What's the Real truth?
Reply #73 - Jun 4th, 2011 at 12:36am
 
perceptions_now wrote on Jun 4th, 2011 at 12:20am:
gizmo_2655 wrote on Jun 3rd, 2011 at 10:36pm:
There's no point in attempting to answer 'loaded', nonsensical statements...


So, tell me, what's loaded, about basic business processes?

The basic difference between the two approaches, is that if we accept there may be a Threat, then we will have simply followed good business practices and acted on the SWOT approach, which is simply a strategic planning method used to evaluate the Strengths, Weaknesses, Opportunities, and Threats involved in any project, Private business venture and Governments, at all levels.

We will have detected possible Threats, such as Climate Change & Peak Energy and done our Due Diligence, to see that future generations had a reasonable chance of living a life worth living.

In other words, we (collectively) will simply have done what good businesses, governments & individuals should do, every day and what most actually do.

We have assessed the Strengths, Weaknesses, Opportunities & Threats, several significant Threats have appeared and we have treated them according to their priority. These threats, whilst some may say they are not overwhelming, nor perhaps even likely, they are of such a size, if they become reality, that we CAN NOT IGNORE THEM.

So, we do what good business pratice dictates, we look at insurance to cover the RISK of SYSTEMIC MELTDOWN, by getting everyone to pitch in a bit every year,  as preventative measures and we take all possible mitigation measures, to try to prevent the systemic meltdown of the Business/Government/Global Economy.    


Frankly, none of you supposed CONServatives on here, know the first thing about business or the Climate Change issues, I haven't seen a coherent argument put from any of you!

Likewise. I dont know any company stupid enough to take money off of their workers or to pay extra, just to save 0.0001% temperature that will have zero impact on their business.
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Re: What's the Real truth?
Reply #74 - Jun 4th, 2011 at 12:56pm
 
Just because you start the spam with "I post this here, because it is relevant!" on numerous threads doesn't make it so.
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Re: What's the Real truth?
Reply #75 - Jun 4th, 2011 at 2:56pm
 
progressiveslol wrote on Jun 4th, 2011 at 12:36am:
perceptions_now wrote on Jun 4th, 2011 at 12:20am:
gizmo_2655 wrote on Jun 3rd, 2011 at 10:36pm:
There's no point in attempting to answer 'loaded', nonsensical statements...


So, tell me, what's loaded, about basic business processes?

The basic difference between the two approaches, is that if we accept there may be a Threat, then we will have simply followed good business practices and acted on the SWOT approach, which is simply a strategic planning method used to evaluate the Strengths, Weaknesses, Opportunities, and Threats involved in any project, Private business venture and Governments, at all levels.

We will have detected possible Threats, such as Climate Change & Peak Energy and done our Due Diligence, to see that future generations had a reasonable chance of living a life worth living.

In other words, we (collectively) will simply have done what good businesses, governments & individuals should do, every day and what most actually do.

We have assessed the Strengths, Weaknesses, Opportunities & Threats, several significant Threats have appeared and we have treated them according to their priority. These threats, whilst some may say they are not overwhelming, nor perhaps even likely, they are of such a size, if they become reality, that we CAN NOT IGNORE THEM.

So, we do what good business pratice dictates, we look at insurance to cover the RISK of SYSTEMIC MELTDOWN, by getting everyone to pitch in a bit every year,  as preventative measures and we take all possible mitigation measures, to try to prevent the systemic meltdown of the Business/Government/Global Economy.    


Frankly, none of you supposed CONServatives on here, know the first thing about business or the Climate Change issues, I haven't seen a coherent argument put from any of you!

Likewise. I dont know any company stupid enough to take money off of their workers or to pay extra, just to save 0.0001% temperature that will have zero impact on their business.


In fact, good businesses undertake risk mitigation continuously and that would involve the workers and the owners, including the shareholders getting a little less than they may otherwise, in an effort to keep the business from being derailed by some of those ocassional, but serious/systemic threatening events!

However, some threats are beyond the knowledge & capacities of 99.9% of most businesses and that is where governments should step in and provide advice & guidance.


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Re: What's the Real truth?
Reply #76 - Jun 4th, 2011 at 3:00pm
 
remember_when64 wrote on Jun 4th, 2011 at 12:56pm:
Just because you start the spam with "I post this here, because it is relevant!" on numerous threads doesn't make it so.


And, just because you say, "doesn't make it so", doesn't mean that the posts are not relevant!
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Re: What's the Real truth?
Reply #77 - Jun 4th, 2011 at 5:55pm
 
perceptions_now wrote on Jun 4th, 2011 at 2:56pm:
progressiveslol wrote on Jun 4th, 2011 at 12:36am:
perceptions_now wrote on Jun 4th, 2011 at 12:20am:
gizmo_2655 wrote on Jun 3rd, 2011 at 10:36pm:
There's no point in attempting to answer 'loaded', nonsensical statements...


So, tell me, what's loaded, about basic business processes?

The basic difference between the two approaches, is that if we accept there may be a Threat, then we will have simply followed good business practices and acted on the SWOT approach, which is simply a strategic planning method used to evaluate the Strengths, Weaknesses, Opportunities, and Threats involved in any project, Private business venture and Governments, at all levels.

We will have detected possible Threats, such as Climate Change & Peak Energy and done our Due Diligence, to see that future generations had a reasonable chance of living a life worth living.

In other words, we (collectively) will simply have done what good businesses, governments & individuals should do, every day and what most actually do.

We have assessed the Strengths, Weaknesses, Opportunities & Threats, several significant Threats have appeared and we have treated them according to their priority. These threats, whilst some may say they are not overwhelming, nor perhaps even likely, they are of such a size, if they become reality, that we CAN NOT IGNORE THEM.

So, we do what good business pratice dictates, we look at insurance to cover the RISK of SYSTEMIC MELTDOWN, by getting everyone to pitch in a bit every year,  as preventative measures and we take all possible mitigation measures, to try to prevent the systemic meltdown of the Business/Government/Global Economy.    


Frankly, none of you supposed CONServatives on here, know the first thing about business or the Climate Change issues, I haven't seen a coherent argument put from any of you!

Likewise. I dont know any company stupid enough to take money off of their workers or to pay extra, just to save 0.0001% temperature that will have zero impact on their business.


In fact, good businesses undertake risk mitigation continuously and that would involve the workers and the owners, including the shareholders getting a little less than they may otherwise, in an effort to keep the business from being derailed by some of those ocassional, but serious/systemic threatening events!

However, some threats are beyond the knowledge & capacities of 99.9% of most businesses and that is where governments should step in and provide advice & guidance.



What a load of crap that was. Give us a break.
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Re: What's the Real truth?
Reply #78 - Jun 4th, 2011 at 9:00pm
 
progressiveslol wrote on Jun 4th, 2011 at 5:55pm:
perceptions_now wrote on Jun 4th, 2011 at 2:56pm:
progressiveslol wrote on Jun 4th, 2011 at 12:36am:
perceptions_now wrote on Jun 4th, 2011 at 12:20am:
gizmo_2655 wrote on Jun 3rd, 2011 at 10:36pm:
There's no point in attempting to answer 'loaded', nonsensical statements...


So, tell me, what's loaded, about basic business processes?

The basic difference between the two approaches, is that if we accept there may be a Threat, then we will have simply followed good business practices and acted on the SWOT approach, which is simply a strategic planning method used to evaluate the Strengths, Weaknesses, Opportunities, and Threats involved in any project, Private business venture and Governments, at all levels.

We will have detected possible Threats, such as Climate Change & Peak Energy and done our Due Diligence, to see that future generations had a reasonable chance of living a life worth living.

In other words, we (collectively) will simply have done what good businesses, governments & individuals should do, every day and what most actually do.

We have assessed the Strengths, Weaknesses, Opportunities & Threats, several significant Threats have appeared and we have treated them according to their priority. These threats, whilst some may say they are not overwhelming, nor perhaps even likely, they are of such a size, if they become reality, that we CAN NOT IGNORE THEM.

So, we do what good business pratice dictates, we look at insurance to cover the RISK of SYSTEMIC MELTDOWN, by getting everyone to pitch in a bit every year,  as preventative measures and we take all possible mitigation measures, to try to prevent the systemic meltdown of the Business/Government/Global Economy.    


Frankly, none of you supposed CONServatives on here, know the first thing about business or the Climate Change issues, I haven't seen a coherent argument put from any of you!

Likewise. I dont know any company stupid enough to take money off of their workers or to pay extra, just to save 0.0001% temperature that will have zero impact on their business.


In fact, good businesses undertake risk mitigation continuously and that would involve the workers and the owners, including the shareholders getting a little less than they may otherwise, in an effort to keep the business from being derailed by some of those ocassional, but serious/systemic threatening events!

However, some threats are beyond the knowledge & capacities of 99.9% of most businesses and that is where governments should step in and provide advice & guidance.



What a load of crap that was. Give us a break.


Why?
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Re: What's the Real truth?
Reply #79 - Jun 4th, 2011 at 9:10pm
 
progressiveslol wrote on Jun 4th, 2011 at 5:55pm:
What a load of crap that was. Give us a break.




You really think that a trolling spam bot will respond! LOL
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Re: What's the Real truth?
Reply #80 - Jun 4th, 2011 at 9:19pm
 
perceptions_now wrote on Jun 4th, 2011 at 9:00pm:
progressiveslol wrote on Jun 4th, 2011 at 5:55pm:
perceptions_now wrote on Jun 4th, 2011 at 2:56pm:
progressiveslol wrote on Jun 4th, 2011 at 12:36am:
perceptions_now wrote on Jun 4th, 2011 at 12:20am:
gizmo_2655 wrote on Jun 3rd, 2011 at 10:36pm:
There's no point in attempting to answer 'loaded', nonsensical statements...


So, tell me, what's loaded, about basic business processes?

The basic difference between the two approaches, is that if we accept there may be a Threat, then we will have simply followed good business practices and acted on the SWOT approach, which is simply a strategic planning method used to evaluate the Strengths, Weaknesses, Opportunities, and Threats involved in any project, Private business venture and Governments, at all levels.

We will have detected possible Threats, such as Climate Change & Peak Energy and done our Due Diligence, to see that future generations had a reasonable chance of living a life worth living.

In other words, we (collectively) will simply have done what good businesses, governments & individuals should do, every day and what most actually do.

We have assessed the Strengths, Weaknesses, Opportunities & Threats, several significant Threats have appeared and we have treated them according to their priority. These threats, whilst some may say they are not overwhelming, nor perhaps even likely, they are of such a size, if they become reality, that we CAN NOT IGNORE THEM.

So, we do what good business pratice dictates, we look at insurance to cover the RISK of SYSTEMIC MELTDOWN, by getting everyone to pitch in a bit every year,  as preventative measures and we take all possible mitigation measures, to try to prevent the systemic meltdown of the Business/Government/Global Economy.    


Frankly, none of you supposed CONServatives on here, know the first thing about business or the Climate Change issues, I haven't seen a coherent argument put from any of you!

Likewise. I dont know any company stupid enough to take money off of their workers or to pay extra, just to save 0.0001% temperature that will have zero impact on their business.


In fact, good businesses undertake risk mitigation continuously and that would involve the workers and the owners, including the shareholders getting a little less than they may otherwise, in an effort to keep the business from being derailed by some of those ocassional, but serious/systemic threatening events!

However, some threats are beyond the knowledge & capacities of 99.9% of most businesses and that is where governments should step in and provide advice & guidance.



What a load of crap that was. Give us a break.


Why?

Because you SPAM us with this crap and when I answer it, you then move the goal posts to the government. YOU have unwittingly correlated your answer with mine. What you said is crap. How did you do it. By moving the goal posts from business (your big SPAM) to government.
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Re: What's the Real truth?
Reply #81 - Jun 4th, 2011 at 9:50pm
 
creep wrote on Jun 4th, 2011 at 9:10pm:
progressiveslol wrote on Jun 4th, 2011 at 5:55pm:
What a load of crap that was. Give us a break.




You really think that a trolling spam bot will respond! LOL


I have to assume that your comment was directed at me, seeing as to how progressive Laugh out louds comment was directed to me and guess what, I had already responded, before you did this post.

You didn't even look, did you!
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Re: What's the Real truth?
Reply #82 - Jun 4th, 2011 at 10:00pm
 
progressiveslol wrote on Jun 4th, 2011 at 9:19pm:
Because you SPAM us with this crap and when I answer it, you then move the goal posts to the government. YOU have unwittingly correlated your answer with mine. What you said is crap. How did you do it. By moving the goal posts from business (your big SPAM) to government.




Well it is a trolling spam bot, so what else would you expect.
No one reads the spam anyway, why would they.
It's like the spam you get in your e-mails or the junk mail in your letterbox.
It's crap.
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Re: What's the Real truth?
Reply #83 - Jun 4th, 2011 at 10:13pm
 
progressiveslol wrote on Jun 4th, 2011 at 9:19pm:
perceptions_now wrote on Jun 4th, 2011 at 9:00pm:
progressiveslol wrote on Jun 4th, 2011 at 5:55pm:
perceptions_now wrote on Jun 4th, 2011 at 2:56pm:
progressiveslol wrote on Jun 4th, 2011 at 12:36am:
perceptions_now wrote on Jun 4th, 2011 at 12:20am:
gizmo_2655 wrote on Jun 3rd, 2011 at 10:36pm:
There's no point in attempting to answer 'loaded', nonsensical statements...


So, tell me, what's loaded, about basic business processes?

The basic difference between the two approaches, is that if we accept there may be a Threat, then we will have simply followed good business practices and acted on the SWOT approach, which is simply a strategic planning method used to evaluate the Strengths, Weaknesses, Opportunities, and Threats involved in any project, Private business venture and Governments, at all levels.

We will have detected possible Threats, such as Climate Change & Peak Energy and done our Due Diligence, to see that future generations had a reasonable chance of living a life worth living.

In other words, we (collectively) will simply have done what good businesses, governments & individuals should do, every day and what most actually do.

We have assessed the Strengths, Weaknesses, Opportunities & Threats, several significant Threats have appeared and we have treated them according to their priority. These threats, whilst some may say they are not overwhelming, nor perhaps even likely, they are of such a size, if they become reality, that we CAN NOT IGNORE THEM.

So, we do what good business pratice dictates, we look at insurance to cover the RISK of SYSTEMIC MELTDOWN, by getting everyone to pitch in a bit every year,  as preventative measures and we take all possible mitigation measures, to try to prevent the systemic meltdown of the Business/Government/Global Economy.    


Frankly, none of you supposed CONServatives on here, know the first thing about business or the Climate Change issues, I haven't seen a coherent argument put from any of you!

Likewise. I dont know any company stupid enough to take money off of their workers or to pay extra, just to save 0.0001% temperature that will have zero impact on their business.


In fact, good businesses undertake risk mitigation continuously and that would involve the workers and the owners, including the shareholders getting a little less than they may otherwise, in an effort to keep the business from being derailed by some of those ocassional, but serious/systemic threatening events!

However, some threats are beyond the knowledge & capacities of 99.9% of most businesses and that is where governments should step in and provide advice & guidance.



What a load of crap that was. Give us a break.


Why?

Because you SPAM us with this crap and when I answer it, you then move the goal posts to the government. YOU have unwittingly correlated your answer with mine. What you said is crap. How did you do it. By moving the goal posts from business (your big SPAM) to government.


Why don't you try to stop just saying crap and provide a logical answer, then I wouldn't have to ask why!

As for moving goal posts, do you think there is one silver bullet involved here, if you do, then you are wrong, again.

All that I was doing, was pointing out that the reasons why we should act on Climate Change have similar origins to why business take action to mitigate possible threats.

However, most business do not have access to the sort of information flows that governments do, so there is also an onus on governments to direct the business sector by providing advice & guidance on some of the macro issues, like Climate Change, that most private businesses could not possibly generate & verify themselves.

So again, I ask WHY -
1) Is it crap that we should not follow good businesses practice and undertake risk mitigation, against known threats, which have a capacity for serious/systemic derailment of the Global Economy?

2) Is trying to explain how the pieces of this puzzle, which includes many factors (including the role of government), shifting the goal posts?  


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Re: What's the Real truth?
Reply #84 - Jun 4th, 2011 at 10:17pm
 
creep wrote on Jun 4th, 2011 at 10:00pm:
progressiveslol wrote on Jun 4th, 2011 at 9:19pm:
Because you SPAM us with this crap and when I answer it, you then move the goal posts to the government. YOU have unwittingly correlated your answer with mine. What you said is crap. How did you do it. By moving the goal posts from business (your big SPAM) to government.




Well it is a trolling spam bot, so what else would you expect.
No one reads the spam anyway, why would they.
It's like the spam you get in your e-mails or the junk mail in your letterbox.
It's crap.


You did!

Why?
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Re: What's the Real truth?
Reply #85 - Jun 4th, 2011 at 10:41pm
 
Dsmithy70 wrote on Jun 2nd, 2011 at 11:45am:
We on the "LEFT" are happy to ... tell you to STFU



It's a Leninist debate, innit: the Left can talk, everybody else can STFU.

Bewdiful.



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Re: What's the Real truth?
Reply #86 - Jun 4th, 2011 at 10:56pm
 
Soren wrote on Jun 4th, 2011 at 10:41pm:
Dsmithy70 wrote on Jun 2nd, 2011 at 11:45am:
We on the "LEFT" are happy to ... tell you to STFU



It's a Leninist debate, innit: the Left can talk, everybody else can STFU.

Bewdiful.







LOL
And now a word from our trolling spam bot.
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Re: What's the Real truth?
Reply #87 - Jun 4th, 2011 at 11:33pm
 
I post this here, because it is relevant!


perceptions_now wrote on Jun 4th, 2011 at 11:27pm:
longweekend58 wrote on Jun 4th, 2011 at 6:02pm:
creep wrote on Jun 4th, 2011 at 5:08pm:
creep wrote on Jun 4th, 2011 at 5:04pm:
Please delete wrote on Jun 4th, 2011 at 12:48pm:
Several of Australia's top climate change scientists at the Australian National University have been subjected to a campaign of death threats, forcing the university to tighten security.

Several of the scientists in Canberra have been moved to a more secure location after receiving the threats over their research.






It will not surprise anybody if these supposed death threats were actually conjured up by the scientists themselves.
As afterall they have done this before, with climategate.
As the world gets more and more information and facts, less support is going to the global warmists.
The scaremongerers may now be trying to conjure up support via sympathy!




Especially when you have a professor from the IPCC release information about, and of all the facts on the 'global warming' scam


Great stuff and excellant viewing.
Certainly smashes the global warmists for six and out of the park.
No wonder the global warmists are running around like Chicken Little, completely in denial of the facts.


Apart from your repeated nonsense about this guy coming from the IPCC
this is a good video. and the guy is a professor at Berkley so hardly a nobody.


Well done LW, there may yet be hope for you.

That said, I should point out, following a review of both the Creeps video & the following one from Astro, that our friend Mr Muller seems to have a split personality.





In Creeps video, Muller says, he agrees that Global Warming is happening & it is human caused to an extent, he then highlights many areas indicating why the IPCC got things wrong.

Then in Astro's video, which was done about 6 months later than Creeps video, Muller says before a US Congress hearing on March 31st, 2011 that his new organisations initial investigations agreed that the work of NOAA, NASA GISS & the UK, on Global Warming, was correct and that warming had indeed increased by 1.2 degrees between 1900 to now and an increase of 0.7 between 1957 to now.

Muller also specifically disagreed with "Watts up with That", an anti Climate Change website, on the issue on where weather stations are located and whether that has made a difference to the stats.


Is it possible that Bill Gates & David Koch, who are major sponsors of Mullers new organisation, may be pulling Muller in different directions and that may have some bearing on what Muller is saying?

Muller also mentioned various Energy related issues in the Creeps video, which dates back to October, 2010.

Muller lauds Nuclear, which in hindsight now has great problems, following the Japan situation and Germanies abandonment of their Nuclear industry by 2023 (roughly).

Muller also lauds, Coal & Natural Gas, as replacements for Oil, which also clearly has problems, given that Coal is now close to Peaking and probably only has another 40-60 years, whilst the Natural Gas he refers to involves the Fracking Extraction process in the USA, which is now being examined in a lot more detail, as many problems are arising with that process, including issues such as contamination of underground water acquifiers, to even causing local earthquakes.

I would put Muller into the question mark area, at this point!  
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Re: What's the Real truth?
Reply #88 - Jun 4th, 2011 at 11:37pm
 
The trolling spam bot is right on queue LOL


If only I could predict the lotto numbers with such pin point accuracy!!!!
Cheesy Cheesy Cheesy
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Re: What's the Real truth?
Reply #89 - Jun 5th, 2011 at 12:03am
 
creep wrote on Jun 4th, 2011 at 11:37pm:
The trolling spam bot is right on queue LOL


If only I could predict the lotto numbers with such pin point accuracy!!!!
Cheesy Cheesy Cheesy


It is a pity, you don't post any real facts, instead of just trolling & posting porky pies, then you may get more of a response?
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Re: What's the Real truth?
Reply #90 - Jun 6th, 2011 at 3:02pm
 
Hewson takes swipe at parties over climate


Dr Hewson, addressing a crowd of around 2,000 people outside Parliament House, said global warming was
"the biggest economic, social, political and moral challenge of this century".


Dr Hewson said vested interests were buying influence in Canberra and leadership was needed to take them on.

"We [also] need leadership to challenge the scare campaign that's been led by one of my ex-staff members," he said, referring to Mr Abbott.

"This issue is going to affect generations through this century so how dare they play games with the livelihoods of our grandchildren and their grandchildren."

http://www.abc.net.au/news/stories/2011/06/06/3236095.htm?site=newcastle
===============================
Gee, that on sounds familiar!
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Re: What's the Real truth?
Reply #91 - Jun 6th, 2011 at 3:20pm
 
perceptions_now wrote on Jun 6th, 2011 at 3:02pm:
Hewson takes swipe at parties over climate


Dr Hewson, addressing a crowd of around 2,000 people outside Parliament House, said global warming was
"the biggest economic, social, political and moral challenge of this century".


Dr Hewson said vested interests were buying influence in Canberra and leadership was needed to take them on.

"We [also] need leadership to challenge the scare campaign that's been led by one of my ex-staff members," he said, referring to Mr Abbott.

"This issue is going to affect generations through this century so how dare they play games with the livelihoods of our grandchildren and their grandchildren."

http://www.abc.net.au/news/stories/2011/06/06/3236095.htm?site=newcastle
===============================
Gee, that on sounds familiar!

What does Hewson want the world to reduce the man made greenhouse effect to. Can we get some numbers. While he is at it, what would he like Australias reduction to be. As manmade greenhouse effect (through CO2) is 0.117% of all greenhouse gases .What would he like to reduce that to and how much of that will Australias reduction be represented as?

...
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Re: What's the Real truth?
Reply #92 - Jun 6th, 2011 at 4:18pm
 
progressiveslol wrote on Jun 6th, 2011 at 3:20pm:
perceptions_now wrote on Jun 6th, 2011 at 3:02pm:
Hewson takes swipe at parties over climate


Dr Hewson, addressing a crowd of around 2,000 people outside Parliament House, said global warming was
"the biggest economic, social, political and moral challenge of this century".


Dr Hewson said vested interests were buying influence in Canberra and leadership was needed to take them on.

"We [also] need leadership to challenge the scare campaign that's been led by one of my ex-staff members," he said, referring to Mr Abbott.

"This issue is going to affect generations through this century so how dare they play games with the livelihoods of our grandchildren and their grandchildren."

http://www.abc.net.au/news/stories/2011/06/06/3236095.htm?site=newcastle
===============================
Gee, that on sounds familiar!

What does Hewson want the world to reduce the man made greenhouse effect to. Can we get some numbers. While he is at it, what would he like Australias reduction to be. As manmade greenhouse effect (through CO2) is 0.117% of all greenhouse gases .What would he like to reduce that to and how much of that will Australias reduction be represented as?

http://www.geocraft.com/WVFossils/PageMill_Images/image270f.gif


Do not show this graph! It has the same effect on warming cultists as telling a muslim that allah doesn't exist. Expect a warming fatwah to be declared on you at any moment!
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"I may not agree with what you say, but I will defend to the death your right to say it."

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Re: What's the Real truth?
Reply #93 - Jun 6th, 2011 at 4:59pm
 
progressiveslol wrote on Jun 6th, 2011 at 3:20pm:
perceptions_now wrote on Jun 6th, 2011 at 3:02pm:
Hewson takes swipe at parties over climate


Dr Hewson, addressing a crowd of around 2,000 people outside Parliament House, said global warming was
"the biggest economic, social, political and moral challenge of this century".


Dr Hewson said vested interests were buying influence in Canberra and leadership was needed to take them on.

"We [also] need leadership to challenge the scare campaign that's been led by one of my ex-staff members," he said, referring to Mr Abbott.

"This issue is going to affect generations through this century so how dare they play games with the livelihoods of our grandchildren and their grandchildren."

http://www.abc.net.au/news/stories/2011/06/06/3236095.htm?site=newcastle
===============================
Gee, that on sounds familiar!


What does Hewson want the world to reduce the man made greenhouse effect to. Can we get some numbers. While he is at it, what would he like Australias reduction to be. As manmade greenhouse effect (through CO2) is 0.117% of all greenhouse gases .What would he like to reduce that to and how much of that will Australias reduction be represented as?

http://www.geocraft.com/WVFossils/PageMill_Images/image270f.gif


What's your point, Progs?

It's not the absolute amount of CO2 in the atmosphere or in the oceans, nor is it the absolute %.

I'm sure you know, the human body can get very sick &/or die, from extremely small amounts, including Cyanide and many other substances. In the case of Cyanide, something like 1 millionth of your body weight in Cyanide will be enough to do the job AND OTHER SUBSTANCES EVEN LESS!

For perspective, your 0.117% is roughly 1 thousandth, whilst a lethal dose of cyanide is 1 Millionth, that's 1,000 times less and other substances are even more lethal. 

The Climate/GHG problem is to do with the inherent balance between the Climate, GHG's & other Climate factors and that the upsetting of that balance, requires relatively small amounts of additional human created GHG's. Relatively small, in the overall context.  

Fo all of those who say CO2 is good for the Earth, you may want to consider shifting to a planet that has a little more, like Venus.

With CO2 consituting something like 96% of the Venus atmosphere, it should suit some you, who think CO2 is good. And, of course, you could take your swim tog's (bathers), as it is both warm & plenty of cloud.

However, there are a few things you may want to consider, before purchasing your travel documents -
1) When I said cloud, I meant to say they
rain sulfuric acid
, but at least you won't have worry about skin cancer, as the cloud is that thick it doesn't let any sunlight in, and;  

2) When I said warm, I meant
nearly 500c
.

3) However, at least you will save money on your travel costs, because you won't need a return ticket, as there is NO way you will make the journey back to Earth, after being soaked in acid and then fried by the heat!
 
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Re: What's the Real truth?
Reply #94 - Jun 6th, 2011 at 5:01pm
 
Belgarion wrote on Jun 6th, 2011 at 4:18pm:
progressiveslol wrote on Jun 6th, 2011 at 3:20pm:
perceptions_now wrote on Jun 6th, 2011 at 3:02pm:
Hewson takes swipe at parties over climate


Dr Hewson, addressing a crowd of around 2,000 people outside Parliament House, said global warming was
"the biggest economic, social, political and moral challenge of this century".


Dr Hewson said vested interests were buying influence in Canberra and leadership was needed to take them on.

"We [also] need leadership to challenge the scare campaign that's been led by one of my ex-staff members," he said, referring to Mr Abbott.

"This issue is going to affect generations through this century so how dare they play games with the livelihoods of our grandchildren and their grandchildren."

http://www.abc.net.au/news/stories/2011/06/06/3236095.htm?site=newcastle
===============================
Gee, that on sounds familiar!

What does Hewson want the world to reduce the man made greenhouse effect to. Can we get some numbers. While he is at it, what would he like Australias reduction to be. As manmade greenhouse effect (through CO2) is 0.117% of all greenhouse gases .What would he like to reduce that to and how much of that will Australias reduction be represented as?

http://www.geocraft.com/WVFossils/PageMill_Images/image270f.gif


Do not show this graph! It has the same effect on warming cultists as telling a muslim that allah doesn't exist. Expect a warming fatwah to be declared on you at any moment!


There is nothing wrong with a graph, but it has to consider the issues and be relevant.
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Re: What's the Real truth?
Reply #95 - Jun 6th, 2011 at 5:05pm
 
perceptions_now wrote on Jun 6th, 2011 at 4:59pm:
progressiveslol wrote on Jun 6th, 2011 at 3:20pm:
perceptions_now wrote on Jun 6th, 2011 at 3:02pm:
Hewson takes swipe at parties over climate


Dr Hewson, addressing a crowd of around 2,000 people outside Parliament House, said global warming was
"the biggest economic, social, political and moral challenge of this century".


Dr Hewson said vested interests were buying influence in Canberra and leadership was needed to take them on.

"We [also] need leadership to challenge the scare campaign that's been led by one of my ex-staff members," he said, referring to Mr Abbott.

"This issue is going to affect generations through this century so how dare they play games with the livelihoods of our grandchildren and their grandchildren."

http://www.abc.net.au/news/stories/2011/06/06/3236095.htm?site=newcastle
===============================
Gee, that on sounds familiar!


What does Hewson want the world to reduce the man made greenhouse effect to. Can we get some numbers. While he is at it, what would he like Australias reduction to be. As manmade greenhouse effect (through CO2) is 0.117% of all greenhouse gases .What would he like to reduce that to and how much of that will Australias reduction be represented as?

http://www.geocraft.com/WVFossils/PageMill_Images/image270f.gif


What's your point, Progs?

It's not the absolute amount of CO2 in the atmosphere or in the oceans, nor is it the absolute %.

I'm sure you know, the human body can get very sick &/or die, from extremely small amounts, including Cyanide and many other substances. In the case of Cyanide, something like 1 millionth of your body weight in Cyanide will be enough to do the job AND OTHER SUBSTANCES EVEN LESS!

For perspective, your 0.117% is roughly 1 thousandth, whilst a lethal dose of cyanide is 1 Millionth, that's 1,000 times less and other substances are even more lethal. 

The Climate/GHG problem is to do with the inherent balance between the Climate, GHG's & other Climate factors and that the upsetting of that balance, requires relatively small amounts of additional human created GHG's. Relatively small, in the overall context.  

Fo all of those who say CO2 is good for the Earth, you may want to consider shifting to a planet that has a little more, like Venus.

With CO2 consituting something like 96% of the Venus atmosphere, it should suit some you, who think CO2 is good. And, of course, you could take your swim tog's (bathers), as it is both warm & plenty of cloud.

However, there are a few things you may want to consider, before purchasing your travel documents -
1) When I said cloud, I meant to say they
rain sulfuric acid
, but at least you won't have worry about skin cancer, as the cloud is that thick it doesn't let any sunlight in, and;  

2) When I said warm, I meant
nearly 500c
.

3) However, at least you will save money on your travel costs, because you won't need a return ticket, as there is NO way you will make the journey back to Earth, after being soaked in acid and then fried by the heat!
 

Use proper examples f f sake. Cyanide - 3% I added ,dead, but there was already 97% of it in my blood, so I was already dead. How did I then put 3% into my blood after that. Anyway, the representation is 0.117% I would have added, not 3% out of the total cyanide.

From the other thread, I just want to know what the representation in total greenhouse effect reduction do you people want out of the 0.117%. What do you think it would be.
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« Last Edit: Jun 6th, 2011 at 5:21pm by progressiveslol »  
 
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Re: What's the Real truth?
Reply #96 - Jun 6th, 2011 at 5:46pm
 
longweekend58 wrote on Jun 6th, 2011 at 4:30pm:
sir prince duke alevine wrote on Jun 6th, 2011 at 2:43pm:
I'm a little confused longie, what's your actual position? You say you're not a denier, and yet you're against both lib and lab policies?  So, what's your thought for action if you agree to believe that climate change may in fact be human caused?


My position is (and thanks for asking since you are the first to post actuall yonthe topic) is that I believe humans affect climate but NOT catastrophically.
I do not beleive that we affect - or have the capacity to affect - climate in any significant manner.
the earths biosphere is a self-repairing one and one that responds well to challenges made to it.
I do not believe that we are altering climate outside its normal range.
Thais does not mean I dont think we should be cleaner and less pollutting.
but CO2 is NOT a pollutant whereas black carbon is and is 1000 times as dangerous to glaciers than CO2.


The above is an example of the CO2 is good brigade.

How would Longweakend go on Venus, I wonder?

Can anyone see a few "minor" holes in LW's supposition?
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Re: What's the Real truth?
Reply #97 - Jun 15th, 2011 at 11:59pm
 
Climate change is real: an open letter from the scientific community

June 13, 2011

...
It’s undeniable: our planet is changing. NASA

Today, The Conversation launches a two-week series from the nation’s top minds on the science behind climate change and the efforts of “sceptics” to cloud the debate.

The overwhelming scientific evidence tells us that human greenhouse gas emissions are resulting in climate changes that cannot be explained by natural causes.

Climate change is real, we are causing it, and it is happening right now.

Like it or not, humanity is facing a problem that is unparalleled in its scale and complexity. The magnitude of the problem was given a chilling focus in the most recent report of the International Energy Agency, which their chief economist characterised as the “worst news on emissions.”

Limiting global warming to 2°C is now beginning to look like a nearly insurmountable challenge.

Like all great challenges, climate change has brought out the best and the worst in people.

At the other extreme, understandable economic insecurity and fear of radical change have been exploited by ideologues and vested interests to whip up ill-informed, populist rage, and climate scientists have become the punching bag of shock jocks and tabloid scribes.

Australians have been exposed to a phony public debate which is not remotely reflected in the scientific literature and community of experts.

Beginning today, The Conversation will bring much-needed and long-overdue accountability to the climate “sceptics.”

For the next two weeks, our series of daily analyses will show how they can side-step the scientific literature and how they subvert normal peer review. They invariably ignore clear refutations of their arguments and continue to promote demonstrably false critiques.

We will show that “sceptics” often show little regard for truth and the critical procedures of the ethical conduct of science on which real skepticism is based.

Link -
http://theconversation.edu.au/climate-change-is-real-an-open-letter-from-the-sci...
================================
The article is signed by professions from UWA, ANU, UNSW, University of Melbourne, University of St. Thomas, UQ, University of Adelaide, Monash University, Murdoch University, CSIRO, University of Technology Sydney, University of Ottawa.

This may be interesting!

More to follow!
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Re: What's the Real truth?
Reply #98 - Jun 16th, 2011 at 12:05am
 
The greenhouse effect is real: here’s why


CLEARING UP THE CLIMATE DEBATE: Bureau of Meteorology scientist Karl Braganza explains why we know the climate is changing, and what’s causing it.

The greenhouse effect is fundamental science
It would be easy to form the opinion that everything we know about climate change is based upon the observed rise in global temperatures and observed increase in carbon dioxide emissions since the industrial revolution.

In reality, the correlation between global mean temperature and carbon dioxide over the 20th century forms an important, but very small part of the evidence for a human role in climate change.

Our assessment of the future risk from the continued build up of greenhouse gases in the atmosphere is even less informed by 20th century changes in global mean temperature.

For example, our understanding of the greenhouse effect – the link between greenhouse gas concentrations and global surface air temperature – is based primarily on our fundamental understanding of mathematics, physics, astronomy and chemistry.

Much of this science is textbook material that is at least a century old and does not rely on the recent climate record.

For example, it is a scientific fact that Venus, the planet most similar to Earth in our solar system, experiences surface temperatures of nearly 500 degrees Celsius due to its atmosphere being heavily laden with greenhouse gases.

Back on Earth, that fundamental understanding of the physics of radiation, combined with our understanding of climate change from the geological record, clearly demonstrates that increasing greenhouse gas concentrations will inevitably drive global warming.

Dusting for climate fingerprints
The observations we have taken since the start of 20th century have confirmed our fundamental understanding of the climate system.

While the climate system is very complex, observations have shown that our formulation of the physics of the atmosphere and oceans is largely correct, and ever improving.

Most importantly, the observations have confirmed that human activities, in particular a 40% increase in atmospheric carbon dioxide concentrations since the late 19th century, have had a discernible and significant impact on the climate system already.

In the field known as detection and attribution of climate change, scientists use indicators known as fingerprints of climate change.

These fingerprints show the entire climate system has changed in ways that are consistent with increasing greenhouse gases and an enhanced greenhouse effect. They also show that recent, long term changes are inconsistent with a range of natural causes.

Is it getting hot in here?
A warming world is obviously the most profound piece of evidence.

Here in Australia, the decade ending in 2010 has easily been the warmest since record keeping began, and continues a trend of each decade being warmer than the previous, that extends back 70 years.

Globally, significant warming and other changes have been observed across a range of different indicators and through a number of different recording instruments, and a consistent picture has now emerged.

Scientists have observed increases in continental temperatures and increases in the temperature of the lower atmosphere.

In the oceans, we have seen increases in sea-surface temperatures as well as increases in deep-ocean heat content. That increased heat has expanded the volume of the oceans and has been recorded as a rise in sea-level.

Scientists have also observed decreases in sea-ice, a general retreat of glaciers and decreases in snow cover. Changes in atmospheric pressure and rainfall have also occurred in patterns that we would expect due to increased greenhouse gases.

There is also emerging evidence that some, though not all, types of extreme weather have become more frequent around the planet. These changes are again consistent with our expectations for increasing atmospheric carbon dioxide.

Patterns of temperature change that are uniquely associated with the enhanced greenhouse effect, and which have been observed in the real world include:

   greater warming in polar regions than tropical regions
   greater warming over the continents than the oceans
   greater warming of night time temperatures than daytime temperatures
   greater warming in winter compared with summer
   a pattern of cooling in the high atmosphere (stratosphere) with simultaneous warming in the lower atmosphere (troposphere).

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Re: What's the Real truth?
Reply #99 - Jun 16th, 2011 at 12:08am
 
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Andrei.Hicks wrote on Sep 11th, 2011 at 11:23am:
So tell me, you'd like to see more and more craphouse coloured people in Australia right?&&Yeah good idea moron.&&
 
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Re: What's the Real truth?
Reply #100 - Jun 16th, 2011 at 12:09am
 
The greenhouse effect is real: here’s why (Cont)


By way of brief explanation, if the warming over the 20th century were due to some deep ocean process, we would not expect to see continents warming more rapidly than the oceans, or the oceans warming from the top down.

For increases in solar radiation, we would expect to see warming of the stratosphere rather than the observed cooling trend.

Similarly, greater global warming at night and during winter is more typical of increased greenhouse gases, rather than an increase in solar radiation.

There is a range of other observations that show the enhanced greenhouse effect is real.

The additional carbon dioxide in the atmosphere has been identified through its isotopic signature as being fossil fuel in origin.

The increased carbon dioxide absorbed by the oceans is being recorded as a measured decrease in ocean alkalinity.

Satellite measurements of outgoing long-wave radiation from the planet reveal increased absorption of energy in the spectral bands corresponding to carbon dioxide, exactly as expected from fundamental physics.

It is important to remember that the enhanced greenhouse effect is not the only factor acting on the climate system.

In the short term, the influence of greenhouse gases can be obscured by other competing forces.

These include other anthropogenic factors such as increased industrial aerosols and ozone depletion, as well as natural changes in solar radiation and volcanic aerosols, and the cycle of El Niño and La Niña events.

By choosing a range of indicators, by averaging over decades rather than years, and by looking at the pattern of change through the entire climate system, scientists are able to clearly discern the fingerprint of human-induced change.

Case closed
The climate of Earth is now a closely monitored thing; from instruments in space, in the deep ocean, in the atmosphere and across the surface of both land and sea.

It’s now practically certain that increasing greenhouse gases have already warmed the climate system.

That continued rapid increases in greenhouse gases will cause rapid future warming is irrefutable.

Link -
http://theconversation.edu.au/the-greenhouse-effect-is-real-heres-why-1515
===========================
More to follow!
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Re: What's the Real truth?
Reply #101 - Jun 16th, 2011 at 12:29am
 
perceptions_now wrote on Jun 16th, 2011 at 12:09am:
The greenhouse effect is real: here’s why (Cont)


By way of brief explanation, if the warming over the 20th century were due to some deep ocean process, we would not expect to see continents warming more rapidly than the oceans, or the oceans warming from the top down.

For increases in solar radiation, we would expect to see warming of the stratosphere rather than the observed cooling trend.

Similarly, greater global warming at night and during winter is more typical of increased greenhouse gases, rather than an increase in solar radiation.

There is a range of other observations that show the enhanced greenhouse effect is real.

The additional carbon dioxide in the atmosphere has been identified through its isotopic signature as being fossil fuel in origin.

The increased carbon dioxide absorbed by the oceans is being recorded as a measured decrease in ocean alkalinity.

Satellite measurements of outgoing long-wave radiation from the planet reveal increased absorption of energy in the spectral bands corresponding to carbon dioxide, exactly as expected from fundamental physics.

It is important to remember that the enhanced greenhouse effect is not the only factor acting on the climate system.

In the short term, the influence of greenhouse gases can be obscured by other competing forces.

These include other anthropogenic factors such as increased industrial aerosols and ozone depletion, as well as natural changes in solar radiation and volcanic aerosols, and the cycle of El Niño and La Niña events.

By choosing a range of indicators, by averaging over decades rather than years, and by looking at the pattern of change through the entire climate system, scientists are able to clearly discern the fingerprint of human-induced change.

Case closed
The climate of Earth is now a closely monitored thing; from instruments in space, in the deep ocean, in the atmosphere and across the surface of both land and sea.

It’s now practically certain that increasing greenhouse gases have already warmed the climate system.

That continued rapid increases in greenhouse gases will cause rapid future warming is irrefutable.

Link -
http://theconversation.edu.au/the-greenhouse-effect-is-real-heres-why-1515
===========================
More to follow!

The only climate scientist I found there was a paleoclimate scientist. Not very convincing. No climatologists.

Dont worry about them scaring you though. If you can answer the following question, then you know you must have a lot of time before everything goes belly up.

In what year will China actually begin reducing their CO2 output and what will their total CO2 output be in that year, compared to today?
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Re: What's the Real truth?
Reply #102 - Jun 16th, 2011 at 1:05am
 
perceptions_now wrote on Jun 6th, 2011 at 4:59pm:
progressiveslol wrote on Jun 6th, 2011 at 3:20pm:
What does Hewson want the world to reduce the man made greenhouse effect to. Can we get some numbers. While he is at it, what would he like Australias reduction to be. As manmade greenhouse effect (through CO2) is 0.117% of all greenhouse gases .What would he like to reduce that to and how much of that will Australias reduction be represented as?

http://www.geocraft.com/WVFossils/PageMill_Images/image270f.gif


What's your point, Progs?

It's not the absolute amount of CO2 in the atmosphere or in the oceans, nor is it the absolute %.

I'm sure you know, the human body can get very sick &/or die, from extremely small amounts, including Cyanide and many other substances. In the case of Cyanide, something like 1 millionth of your body weight in Cyanide will be enough to do the job AND OTHER SUBSTANCES EVEN LESS!

For perspective, your 0.117% is roughly 1 thousandth, whilst a lethal dose of cyanide is 1 Millionth, that's 1,000 times less and other substances are even more lethal. 

The Climate/GHG problem is to do with the inherent balance between the Climate, GHG's & other Climate factors and that the upsetting of that balance, requires relatively small amounts of additional human created GHG's. Relatively small, in the overall context.  

Fo all of those who say CO2 is good for the Earth, you may want to consider shifting to a planet that has a little more, like Venus.

With CO2 consituting something like 96% of the Venus atmosphere, it should suit some you, who think CO2 is good. And, of course, you could take your swim tog's (bathers), as it is both warm & plenty of cloud.

However, there are a few things you may want to consider, before purchasing your travel documents -
1) When I said cloud, I meant to say they
rain sulfuric acid
, but at least you won't have worry about skin cancer, as the cloud is that thick it doesn't let any sunlight in, and;  

2) When I said warm, I meant
nearly 500c
.

3) However, at least you will save money on your travel costs, because you won't need a return ticket, as there is NO way you will make the journey back to Earth, after being soaked in acid and then fried by the heat!
 


Grin Grin Grin


This is an excllent example of modelling: take cyanide. It is very poisonous. Even a little bit can kill, even 0.00001 % (
or whatever
). Therefore how much more deadly is 0.03 % (
or whatever
) of very, very, very powerful CO2. CO2 is a bully among GHGs, don't you know, it can force them. Nasty, nasty bully.
You say CO2 is not that bad? Ha! Go to Venus where it's ALL CO2 and see how you like it!!


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Re: What's the Real truth?
Reply #103 - Jun 16th, 2011 at 12:18pm
 
What Would We Need for Persistent 5% Growth?


Last week, I argued that Governor Tim Pawlenty’s aspiration for 5% economic growth over a full decade is implausible since the United States has achieved such steady growth only once since World War II.

Over at Economics One, Stanford economics professor John Taylor offers a more positive take, defending the goal and offering a recipe for achieving it: 1% from population growth, 1% from employment growing faster than the population, and 2.7% from productivity growth.

Add it all up and you get 4.7% growth, a bit short of Pawlenty’s target but close enough for government work.

That sounds great, and I hope it happens, regardless of who is president.

Taylor’s scenario thus assumes that everything breaks right for the U.S. economy for a full decade, with remarkable job growth and remarkable productivity growth in the economy as a whole. Not impossible but, unfortunately, not likely either.

Link -
http://seekingalpha.com/article/274944-what-would-we-need-for-persistent-5-growt...
=============================================

The fact is that Economic Growth is the product of a number of issues, including the following major factors -
1) Population Growth, which means an increasing Employment pool, as well as an increasing level of Demand.
2) Abundant & Cheap Energy, which enables & drives increased levels of Productivity, by providing an increasing capacity to produce all types of Products & Services and does so, at lower Prices.
3) Innovation, in Technology & Planning, which delivers more abundant goods and does so, at a cheaper per capita Price.

That said, there are also a few other factors that need to be kept in mind -
1) Exponential growth of anything, over time, is impossible, according to the laws of nature, as we are now finding out in terms of sustainable Population levels and Energy Production, particularly of the Fossil Fuel variety.
2) Debt levels, particularly Real Debt levels, which include massive unfunded Liabilities, such as Baby Boomer Pensions & Health Care Costs are already past the point of no return in many countries, including the USA, much of Europe & Japan.

So, I've explained a little background, to tell you that 2 of those 3 major Economic Growth factors have been slowing for some time and are now set to go into reverse, over the next 20 years.

The US & Global Population/Employment pool, will first level, as 80 million Amercians & some 2 Billion Baby Boomers Globally, first retire, then start dying enmass, in the largest human population dieoff in history.
This will put a severe crimp in the Employment pool and a massive hole in the Demand for Products & Services, over the next 20 years, plus.

In addition, US & Global Energy supplies, starting with Oil are coming under increasing strains, as Demand from a still increasing Population (at least for a while yet) has started to outstrip Energy supplies and that gap will widen.

Oil Production has already effectively Peaked and if it were not for the Global GFC, which was aided & abetted by Demographics issues & rising Energy Prices, then the increasing gap between Oil Demand & Production would have been even more evident and the Oil & other Energy Prices would already be much higher!

So, as I've already said, I've explained all that, to tell you this -
There is no way that the US Economy is going to grow at 5% over the next 10 years or 20-30 years!

In fact, it is highly likely that the levels of government stimulus & bailouts will stop, because the Debt levels are becoming so enormous and as that happens it will become apparent that those enormous & increasing levels of Debt, were the main reason that "official" GDP figures remained apparently positive.

Although, if the stimulus & bailouts were detracted, then GDP over the last 3 years or so, would still have been negative, which means that the USA & many other countries have actually been in a Recession (at least) for a lot longer than commonly thought!

That said, not only is 5% growth not going to happen, neither will there be any real growth, at all, for quite some time.

Continued stimulus/bailouts will only mask a real negative GDP and the ensuing Debt increases will only exacerbate an already terrible Debt problem!

A cessation of stimulus/bailouts &/or the introduction of AUS-terity programs, will also exacerbate what will be a terrible situation in respect of the existing Demographic & Energy Decline issues!

In short, we have a "catch 22", we're damned if we do & damned if we don't".

So, good luck & watch the Debt!
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Re: What's the Real truth?
Reply #104 - Jun 16th, 2011 at 1:09pm
 
PN, why do you consistently try to convince people that humans are causing things that have existed naturally since long before the first hominid ancestor evolved????

Yes, the Greenhouse Effect is real, and has been around for as long as life has existed on Earth (in fact it's the reason life DOES exist on Earth.)

The same thing applies to climate change....it's been happening for billions of years...

Humans didn't 'cause' the climate to change nor did we cause the Greenhouse Effect....

You might as well say gravity is caused by the obesity epidemic among children....
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"I just get sick of people who place a label on someone else with their own definition.

It's similar to a strawman fallacy"
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Re: What's the Real truth?
Reply #105 - Jun 16th, 2011 at 1:09pm
 
perceptions_now wrote on Jun 16th, 2011 at 12:05am:
The greenhouse effect is real: here’s why


CLEARING UP THE CLIMATE DEBATE: Bureau of Meteorology scientist Karl Braganza explains why we know the climate is changing, and what’s causing it.

The greenhouse effect is fundamental science

Is it getting hot in here?
A warming world is obviously the most profound piece of evidence.

Here in Australia, the decade ending in 2010 has easily been the warmest since record keeping began, and continues a trend of each decade being warmer than the previous, that extends back 70 years.



Record keeping goes back to 1900 only, not the hundreds of years that the soothsayers would have us believe.
And surely it would have been more constructive had those intrepid record keepers have taken into account the blizzard conditions in Northern Europe thoughout the last decade rather than leaving them out of the calculations which makes up the 'average' temperatures.
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"Another boat, another policy failure from the Howard government"

Julia Gillard
Shadow Health Minister
2003.
 
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Re: What's the Real truth?
Reply #106 - Jun 16th, 2011 at 1:19pm
 
perceptions_now wrote on Jun 16th, 2011 at 12:18pm:
In short, we have a "catch 22", we're damned if we do & damned if we don't".




Well, then, the answer to Catch 22 is always the same : fly more bombing missions.
We should start bombing Indonesian abattoirs (shorter distance than the Middle East = smaller carbon footprint = win-win.  Wink)
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Re: What's the Real truth?
Reply #107 - Jun 16th, 2011 at 2:13pm
 
gizmo_2655 wrote on Jun 16th, 2011 at 1:09pm:
PN, why do you consistently try to convince people that humans are causing things that have existed naturally since long before the first hominid ancestor evolved????

Yes, the Greenhouse Effect is real, and has been around for as long as life has existed on Earth (in fact it's the reason life DOES exist on Earth.)

The same thing applies to climate change....it's been happening for billions of years...

Humans didn't 'cause' the climate to change nor did we cause the Greenhouse Effect....

You might as well say gravity is caused by the obesity epidemic among children....


It's good to see you agree, Gizmo, that "the Greenhouse Effect is real".

So, in the spirit of co-operation, I will agree that "Climate Change has been around for Billions of years, long before humans arrived".

I will also agree that, "humans did not cause/originate Climate Change, nor the Greenhouse Effect".

However, humans have impacted the Environment of this planet, of that there is no doubt, the only arguement is how much & what are the likely effects on current & future generations of Humans & other species?

What these and the majority of scientists are saying, is that the human impact on this planets delicate Environment, is just sufficient enough (over time) to tip the natural balance away from what would have happened, but for our impact.

In doing so, our nudge has been like many humans, who eat & drink many things, which are ok in moderation, but many of us consume too much of these things that are normally ok and the end result is many of us become obese or acquire other diseases, such as Diabetes.

The end result is the quality of many peoples lives is not what it should be and many will die a premature death! And that's not even counting gravity?

So, what I'm doing is giving people the facts, so they can make up their minds, whether they want to continue business as usual and lose the quality of their life & of future generations AND die prematurely OR do they want to take proper mitigation measures, to try to stop what will happen to Humans, if the Climate Changes in the directions that we are nudging it to?

In other words Climate Change has some similarities to Obesity, in that it takes a long time to build up and while that is happening few recognise what is happening.

Then, one day, we wake up a realise we are fat and take action OR we don't realise & we don't wake up, we just die?

Is that what you want, for us & our children?       
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Re: What's the Real truth?
Reply #108 - Jun 16th, 2011 at 2:26pm
 
perceptions_now wrote on Jun 16th, 2011 at 2:13pm:
gizmo_2655 wrote on Jun 16th, 2011 at 1:09pm:
PN, why do you consistently try to convince people that humans are causing things that have existed naturally since long before the first hominid ancestor evolved????

Yes, the Greenhouse Effect is real, and has been around for as long as life has existed on Earth (in fact it's the reason life DOES exist on Earth.)

The same thing applies to climate change....it's been happening for billions of years...

Humans didn't 'cause' the climate to change nor did we cause the Greenhouse Effect....

You might as well say gravity is caused by the obesity epidemic among children....


It's good to see you agree, Gizmo, that "the Greenhouse Effect is real".

So, in the spirit of co-operation, I will agree that "Climate Change has been around for Billions of years, long before humans arrived".

I will also agree that, "humans did not cause/originate Climate Change, nor the Greenhouse Effect".

However, humans have impacted the Environment of this planet, of that there is no doubt, the only arguement is how much & what are the likely effects on current & future generations of Humans & other species?

What these and the majority of scientists are saying, is that the human impact on this planets delicate Environment, is just sufficient enough (over time) to tip the natural balance away from what would have happened, but for our impact.

In doing so, our nudge has been like many humans, who eat & drink many things, which are ok in moderation, but many of us consume too much of these things that are normally ok and the end result is many of us become obese or acquire other diseases, such as Diabetes.

The end result is the quality of many peoples lives is not what it should be and many will die a premature death! And that's not even counting gravity?

So, what I'm doing is giving people the facts, so they can make up their minds, whether they want to continue business as usual and lose the quality of their life & of future generations AND die prematurely OR do they want to take proper mitigation measures, to try to stop what will happen to Humans, if the Climate Changes in the directions that we are nudging it to?

In other words Climate Change has some similarities to Obesity, in that it takes a long time to build up and while that is happening few recognise what is happening.
Then, one day, we wake up a realise we are fat and take action OR we don't realise & we don't wake up, we just die?

Is that what you want, for us & our children?       


And yet obesity, like climate change, can have many causes.....not all of them due to human action....

There is still no empirical proof that the current changes in climate are anything other than natural, or that man made Co2 is involved...
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"I just get sick of people who place a label on someone else with their own definition.

It's similar to a strawman fallacy"
Bobbythebat
 
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Re: What's the Real truth?
Reply #109 - Jun 16th, 2011 at 2:32pm
 
Earth facing a mini-Ice Age 'within ten years' due to rare drop in sunspot activity

Mr Hill and his colleagues wouldn't discuss the effects of a quiet sun on temperature or global warming.

'If our predictions are true, we'll have a wonderful experiment that will determine whether the sun has any effect on global warming,' he said.
----

If they will not discuss it, then doesnt that do the normal AGW thing of any outcome remain climate change. They are leaving the door open to give us the details of their predictions after the event and say, see we were right. lol sad.
http://www.dailymail.co.uk/sciencetech/article-2003824/Earth-facing-mini-Ice-Age...
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Re: What's the Real truth?
Reply #110 - Jun 16th, 2011 at 2:34pm
 
progressiveslol wrote on Jun 16th, 2011 at 2:32pm:
Earth facing a mini-Ice Age 'within ten years' due to rare drop in sunspot activity

Mr Hill and his colleagues wouldn't discuss the effects of a quiet sun on temperature or global warming.

'If our predictions are true, we'll have a wonderful experiment that will determine whether the sun has any effect on global warming,' he said.
----

If they will not discuss it, then doesnt that do the normal AGW thing of any outcome remain climate change. They are leaving the door open to give us the details of their predictions after the event and say, see we were right. lol sad.
http://www.dailymail.co.uk/sciencetech/article-2003824/Earth-facing-mini-Ice-Age...

Oh well going on your assumptions we wont have to bother with it, Earth will be flattened by an asteroid 3 months before the ice age is due.Lucky hey????????????/
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Re: What's the Real truth?
Reply #111 - Jun 16th, 2011 at 2:37pm
 
The effects of whatever is done now on climate change will not be seen in this lifetime.

So we get all the costs and no benefits?

Awesome
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Anyone who lives within their means suffers from a lack of imagination - Oscar Wilde
 
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Re: What's the Real truth?
Reply #112 - Jun 16th, 2011 at 2:38pm
 
Andrei.Hicks wrote on Jun 16th, 2011 at 2:37pm:
The effects of whatever is done now on climate change will not be seen in this lifetime.

So we get all the costs and no benefits?

Awesome

Other than knowing your children have a viable future, but I wouldn't expect the likes of you to care about that.
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Re: What's the Real truth?
Reply #113 - Jun 16th, 2011 at 3:07pm
 
Soren wrote on Jun 16th, 2011 at 1:19pm:
perceptions_now wrote on Jun 16th, 2011 at 12:18pm:
In short, we have a "catch 22", we're damned if we do & damned if we don't".




Well, then, the answer to Catch 22 is always the same : fly more bombing missions.
We should start bombing Indonesian abattoirs (shorter distance than the Middle East = smaller carbon footprint = win-win.  Wink)



So, your solution to a once in history catch 22 of monumental proportions is, bomb the indonesian abattoirs?
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Re: What's the Real truth?
Reply #114 - Jun 16th, 2011 at 3:07pm
 
skippy. wrote on Jun 16th, 2011 at 2:38pm:
Andrei.Hicks wrote on Jun 16th, 2011 at 2:37pm:
The effects of whatever is done now on climate change will not be seen in this lifetime.

So we get all the costs and no benefits?

Awesome

Other than knowing your children have a viable future, but I wouldn't expect the likes of you to care about that.



My girls have a viable future and are going to kick ass, don't worry about that.
Girls that will get the best of everything and who will reach for the stars.
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Re: What's the Real truth?
Reply #115 - Jun 16th, 2011 at 3:13pm
 
skippy. wrote on Jun 16th, 2011 at 2:38pm:
Andrei.Hicks wrote on Jun 16th, 2011 at 2:37pm:
The effects of whatever is done now on climate change will not be seen in this lifetime.

So we get all the costs and no benefits?

Awesome

Other than knowing your children have a viable future, but I wouldn't expect the likes of you to care about that.


And also no proof that what we do will have ANY affect whatsoever...

So we may be crippling the economic future of our children and grandchildren to 'provide a viable future' that would have existed anyway...
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Re: What's the Real truth?
Reply #116 - Jun 16th, 2011 at 6:28pm
 
Andrei.Hicks wrote on Jun 16th, 2011 at 3:07pm:
skippy. wrote on Jun 16th, 2011 at 2:38pm:
Andrei.Hicks wrote on Jun 16th, 2011 at 2:37pm:
The effects of whatever is done now on climate change will not be seen in this lifetime.

So we get all the costs and no benefits?

Awesome

Other than knowing your children have a viable future, but I wouldn't expect the likes of you to care about that.



My girls have a viable future and are going to kick ass, don't worry about that.
Girls that will get the best of everything and who will reach for the stars.


With your espoused attitude to issues, I have written on, it seems unlikely that you will take sufficient measures for incoming missiles (Economic problems), so you may struggle?

In terms of Climate Change, I think it is likely that there are  too many with thoughts like yours, Gizmo's, Soren's, Maqqa's, those in the US, China, etc.

So, the sort of mitigation necessary to try to ward off the worst effects of Climate Change are likely to be delayed too long, for any effective action to be attempted.

Therefore, the future for your children & mine and for future generations after them, is likely to be bleak!
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Re: What's the Real truth?
Reply #117 - Jun 16th, 2011 at 6:41pm
 
Hello Perceptions I seek some real truth ? if you dont believe a Carbon tax will fix this Climate changing by mankind through us, YOU THINK THERE IS A BETTER SOLUTION IF YOU BELIEVE IN THIS CLIMATE CHANGING HOAX AS I SEE IT ??
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Re: What's the Real truth?
Reply #118 - Jun 16th, 2011 at 6:44pm
 
gizmo_2655 wrote on Jun 16th, 2011 at 2:26pm:
perceptions_now wrote on Jun 16th, 2011 at 2:13pm:
gizmo_2655 wrote on Jun 16th, 2011 at 1:09pm:
PN, why do you consistently try to convince people that humans are causing things that have existed naturally since long before the first hominid ancestor evolved????

Yes, the Greenhouse Effect is real, and has been around for as long as life has existed on Earth (in fact it's the reason life DOES exist on Earth.)

The same thing applies to climate change....it's been happening for billions of years...

Humans didn't 'cause' the climate to change nor did we cause the Greenhouse Effect....

You might as well say gravity is caused by the obesity epidemic among children....


It's good to see you agree, Gizmo, that "the Greenhouse Effect is real".

So, in the spirit of co-operation, I will agree that "Climate Change has been around for Billions of years, long before humans arrived".

I will also agree that, "humans did not cause/originate Climate Change, nor the Greenhouse Effect".

However, humans have impacted the Environment of this planet, of that there is no doubt, the only arguement is how much & what are the likely effects on current & future generations of Humans & other species?

What these and the majority of scientists are saying, is that the human impact on this planets delicate Environment, is just sufficient enough (over time) to tip the natural balance away from what would have happened, but for our impact.

In doing so, our nudge has been like many humans, who eat & drink many things, which are ok in moderation, but many of us consume too much of these things that are normally ok and the end result is many of us become obese or acquire other diseases, such as Diabetes.

The end result is the quality of many peoples lives is not what it should be and many will die a premature death! And that's not even counting gravity?

So, what I'm doing is giving people the facts, so they can make up their minds, whether they want to continue business as usual and lose the quality of their life & of future generations AND die prematurely OR do they want to take proper mitigation measures, to try to stop what will happen to Humans, if the Climate Changes in the directions that we are nudging it to?

In other words Climate Change has some similarities to Obesity, in that it takes a long time to build up and while that is happening few recognise what is happening.
Then, one day, we wake up a realise we are fat and take action OR we don't realise & we don't wake up, we just die?

Is that what you want, for us & our children?       


And yet obesity, like climate change, can have many causes.....not all of them due to human action....

There is still no empirical proof that the current changes in climate are anything other than natural, or that man made Co2 is involved
...


Give it a break!

At any given point in time, we are the sum product of our heredity and our environment.


CRAP!

There's plenty of evidence, it's just that you don't want to look at it!

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Re: What's the Real truth?
Reply #119 - Jun 16th, 2011 at 6:53pm
 
Quote:
CRAP!

There's plenty of evidence, it's just that you don't want to look at it!

By Perceptions Now



Theoretical physics can prove an elephant can hang from a cliff with his tail tied to a daisy. ...



Kevin Costner. JFK,  Grin Grin Grin
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Re: What's the Real truth?
Reply #120 - Jun 16th, 2011 at 7:09pm
 
stryder wrote on Jun 16th, 2011 at 6:53pm:
Quote:
CRAP!

There's plenty of evidence, it's just that you don't want to look at it!

By Perceptions Now



Theoretical physics can prove an elephant can hang from a cliff with his tail tied to a daisy. ...



Kevin Costner. JFK,  Grin Grin Grin


but to be fair, Costener is an idiot with the IQ of the daisy.
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AUSSIE: "Speaking for myself, I could not care less about 298 human beings having their life snuffed out in a nano-second, or what impact that loss has on Members of their family, their parents..."
 
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Re: What's the Real truth?
Reply #121 - Jun 16th, 2011 at 7:12pm
 
Quote:
but to be fair, Costener is an idiot with the IQ of the daisy.
By Longweekend

The way you think of him as a person is one thing, BUT THE WAY HE DELIVERED THE LINE AS AN ACTOR IN THAT MOVIE WAS ANOTHER.  Grin

And I think it kinda hit the spot with me and made me wanna relate the line to what I think of the science pushing man made climate change.
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Re: What's the Real truth?
Reply #122 - Jun 16th, 2011 at 7:54pm
 
stryder wrote on Jun 16th, 2011 at 6:53pm:
Quote:
CRAP!

There's plenty of evidence, it's just that you don't want to look at it!

By Perceptions Now



Theoretical physics can prove an elephant can hang from a cliff with his tail tied to a daisy. ...



Kevin Costner. JFK,  Grin Grin Grin


You can think that, if you want. but science has taken us a long way, since the Stone Age & The Dark Ages.

You can also say there is a massive conspiracy and all the scientists & Politicians, are in on it? And, we whilst we will never know, you could be right?

But the vast body of information, evidence, physical substantiation & anecdotal confirmations, would appear to confirm what the scientists are saying is the case!  

Btw, I don't know that Kevin Costner is amy great actor, but I doubt he realyy cares, at this point, he has done well, for himself.
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Re: What's the Real truth?
Reply #123 - Jun 16th, 2011 at 8:04pm
 
stryder wrote on Jun 16th, 2011 at 6:41pm:
Hello Perceptions I seek some real truth ? if you dont believe a Carbon tax will fix this Climate changing by mankind through us, YOU THINK THERE IS A BETTER SOLUTION IF YOU BELIEVE IN THIS CLIMATE CHANGING HOAX AS I SEE IT ??


Stryder,
Either you've had one too many reds or I have, you may like to try that again or an explanation, I'm not following you?

That said, let me give it a shot.

No, I don't believe the Carbon Tax will fix Climate Change, but I don't think it was really meant to, it was meant to address government revenue raising!

No, I don't think Climate Change is a hoax!

Yes, I think Climate Change is real & it urgently needs addressing!

Yes, I think there is  an approach which MAY have some chance, but we will also need some luck.

Will we be successful in warding off the worst of Climate Change?

For many reasons, I suspect the final answer will be No, but we are not without a chance and we should take that chance and run with, as hard as we can!

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Re: What's the Real truth?
Reply #124 - Jun 16th, 2011 at 8:18pm
 
perceptions_now wrote on Jun 16th, 2011 at 12:18pm:
What Would We Need for Persistent 5% Growth?


Last week, I argued that Governor Tim Pawlenty’s aspiration for 5% economic growth over a full decade is implausible since the United States has achieved such steady growth only once since World War II.

Over at Economics One, Stanford economics professor John Taylor offers a more positive take, defending the goal and offering a recipe for achieving it: 1% from population growth, 1% from employment growing faster than the population, and 2.7% from productivity growth.

Add it all up and you get 4.7% growth, a bit short of Pawlenty’s target but close enough for government work.

That sounds great, and I hope it happens, regardless of who is president.

Taylor’s scenario thus assumes that everything breaks right for the U.S. economy for a full decade, with remarkable job growth and remarkable productivity growth in the economy as a whole. Not impossible but, unfortunately, not likely either.

Link -
http://seekingalpha.com/article/274944-what-would-we-need-for-persistent-5-growt...
=============================================

The fact is that Economic Growth is the product of a number of issues, including the following major factors -
1) Population Growth, which means an increasing Employment pool, as well as an increasing level of Demand.
2) Abundant & Cheap Energy, which enables & drives increased levels of Productivity, by providing an increasing capacity to produce all types of Products & Services and does so, at lower Prices.
3) Innovation, in Technology & Planning, which delivers more abundant goods and does so, at a cheaper per capita Price.

That said, there are also a few other factors that need to be kept in mind -
1) Exponential growth of anything, over time, is impossible, according to the laws of nature, as we are now finding out in terms of sustainable Population levels and Energy Production, particularly of the Fossil Fuel variety.
2) Debt levels, particularly Real Debt levels, which include massive unfunded Liabilities, such as Baby Boomer Pensions & Health Care Costs are already past the point of no return in many countries, including the USA, much of Europe & Japan.

So, I've explained a little background, to tell you that 2 of those 3 major Economic Growth factors have been slowing for some time and are now set to go into reverse, over the next 20 years.

The US & Global Population/Employment pool, will first level, as 80 million Amercians & some 2 Billion Baby Boomers Globally, first retire, then start dying enmass, in the largest human population dieoff in history.
This will put a severe crimp in the Employment pool and a massive hole in the Demand for Products & Services, over the next 20 years, plus.

In addition, US & Global Energy supplies, starting with Oil are coming under increasing strains, as Demand from a still increasing Population (at least for a while yet) has started to outstrip Energy supplies and that gap will widen.

Oil Production has already effectively Peaked and if it were not for the Global GFC, which was aided & abetted by Demographics issues & rising Energy Prices, then the increasing gap between Oil Demand & Production would have been even more evident and the Oil & other Energy Prices would already be much higher!

So, as I've already said, I've explained all that, to tell you this -
There is no way that the US Economy is going to grow at 5% over the next 10 years or 20-30 years!

In fact, it is highly likely that the levels of government stimulus & bailouts will stop, because the Debt levels are becoming so enormous and as that happens it will become apparent that those enormous & increasing levels of Debt, were the main reason that "official" GDP figures remained apparently positive.

Although, if the stimulus & bailouts were detracted, then GDP over the last 3 years or so, would still have been negative, which means that the USA & many other countries have actually been in a Recession (at least) for a lot longer than commonly thought!

That said, not only is 5% growth not going to happen, neither will there be any real growth, at all, for quite some time.

Continued stimulus/bailouts will only mask a real negative GDP and the ensuing Debt increases will only exacerbate an already terrible Debt problem!

A cessation of stimulus/bailouts &/or the introduction of AUS-terity programs, will also exacerbate what will be a terrible situation in respect of the existing Demographic & Energy Decline issues!

In short, we have a "catch 22", we're damned if we do & damned if we don't".

So, good luck & watch the Debt!


I must admit, I am still surprised that the Human Psyche can carry on endlessly about something where the worst effects are still someway in the future, like Climate Change.

However, we can not bring ourselves to discuss dire issues that are on the doorstep, NOW, like the Baby Boomer Bust, the Energy Bust & the Global Debt Bust!

Weird?
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Re: What's the Real truth?
Reply #125 - Jun 16th, 2011 at 8:36pm
 
Quote:
Either you've had one too many reds or I have, you may like to try that again or an explanation, I'm not following you?

That said, let me give it a shot.

No, I don't believe the Carbon Tax will fix Climate Change, but I don't think it was really meant to, it was meant to address government revenue raising!



Yes it is a Hoax for me, I find many uncertainies in the science and a Government that is willing to use it TO FALSELY PROMOTE REFORM WHEN IT REALLY IS JUST A CLEVER EXCUSE TO EXPAND ITS TAXING AND SPENDING POWERS LIKE YOU SAID.


But dont you at all believe in pricing and taxing carbon as a discentive for carbon based energies, to speed up the evolution from fossilized fuels that emits CO2 to these wonderful fancy clean emitting energies like Solar, wind etc ????
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Re: What's the Real truth?
Reply #126 - Jun 16th, 2011 at 8:39pm
 
Speaking science to climate policy


...
Sound the alarm. It’s a scientist’s job to alert the public to the threats of climate change

CLEARING UP THE CLIMATE DEBATE: CSIRO’s James Risbey explains why it’s not “alarmist” to describe the threat of climate change to the public and how the climate system will respond to half measures.

With many issues to be considered in setting a climate policy one can end up wondering what the role of climate science is in all this.

After all, climate science doesn’t tell us what to do. It doesn’t tell us whether to have a carbon price or where it should be set. Those decisions ultimately involve a range of normative and deliberative issues which are beyond the scope of climatology.

Climatology can tell us, however, what is likely to happen if we don’t act, or if we don’t act with sufficient speed to keep total emissions within specific carbon allocations.

There is no single threshold above which climate change is dangerous and below which it is safe. There is a spectrum of impacts. But some of the largest impacts are effectively irreversible and the thresholds for them are very near.

In particular, the melting and breakdown of polar ice sheets seems to be in the vicinity of a couple of degrees warming. This expectation is based on current high rates of mass loss from the ice sheets compared to relative stability through the Holocene (the past 10,000 years) and on past ice sheet response in periods such as the Pliocene (a few million years ago) when the Earth was a couple of degrees warmer than preindustrial times (and sea level up to 25m higher).

We have already had about 0.8°C warming globally, with another third of a degree locked in by the inertia of the climate system.

That leaves, somewhat optimistically, perhaps a degree or so of wiggle room.

Translating that into carbon emissions, if we wish to keep the total warming below about 2°C (with 50% chance), then we have a total global carbon emission allocation of between about 800 and 1000Gt carbon.

We have already emitted about 550Gt, leaving perhaps another 250–450Gt. Current global emissions are about 10Gt per year, growing at roughly 3% per year.

That leaves a few decades at present rates before having committed to 2°C warming and crossing the expected thresholds for ice sheet disintegration.

Surely this estimate is vastly uncertain?

Everything has some uncertainty, but the uncertainty in this case lies mostly in the timing, not in the essential result. Ice sheets are sensitive to warming somewhere in this vicinity of temperature change and the climate system will yield 2°C warming somewhere in the vicinity of 800–1000Gt of carbon emissions.

We’re only a few decades away from a major tipping point, plus or minus only about a decade. The rate at which the ice sheets would melt is fairly uncertain, but not the result that says we are very close to a tipping point committing to such melt and breakdown.

The longer stringent emissions reductions are delayed, the more drastic they must be to stay within the 250–450Gt budget. With more than a small delay, the reductions needed are faster than can be achieved in turning over the stock of emitting infrastructure.

Is it irresponsible or “alarmist” of climatologists to point this out? The science brief for policy is not to prescribe policies, but to point out the implications of pursuing or not pursuing particular courses of action.

Pointing out that we are close to one of the largest tipping points imaginable in the climate system is well within the remit of science. It’s not alarmist to describe the threat accurately; it’s alarming if the political and social culture can’t absorb this.

Link -
http://theconversation.edu.au/speaking-science-to-climate-policy-1548
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Re: What's the Real truth?
Reply #127 - Jun 16th, 2011 at 9:54pm
 
perceptions_now wrote on Jun 16th, 2011 at 6:44pm:
gizmo_2655 wrote on Jun 16th, 2011 at 2:26pm:
perceptions_now wrote on Jun 16th, 2011 at 2:13pm:
gizmo_2655 wrote on Jun 16th, 2011 at 1:09pm:
PN, why do you consistently try to convince people that humans are causing things that have existed naturally since long before the first hominid ancestor evolved????

Yes, the Greenhouse Effect is real, and has been around for as long as life has existed on Earth (in fact it's the reason life DOES exist on Earth.)

The same thing applies to climate change....it's been happening for billions of years...

Humans didn't 'cause' the climate to change nor did we cause the Greenhouse Effect....

You might as well say gravity is caused by the obesity epidemic among children....


It's good to see you agree, Gizmo, that "the Greenhouse Effect is real".

So, in the spirit of co-operation, I will agree that "Climate Change has been around for Billions of years, long before humans arrived".

I will also agree that, "humans did not cause/originate Climate Change, nor the Greenhouse Effect".

However, humans have impacted the Environment of this planet, of that there is no doubt, the only arguement is how much & what are the likely effects on current & future generations of Humans & other species?

What these and the majority of scientists are saying, is that the human impact on this planets delicate Environment, is just sufficient enough (over time) to tip the natural balance away from what would have happened, but for our impact.

In doing so, our nudge has been like many humans, who eat & drink many things, which are ok in moderation, but many of us consume too much of these things that are normally ok and the end result is many of us become obese or acquire other diseases, such as Diabetes.

The end result is the quality of many peoples lives is not what it should be and many will die a premature death! And that's not even counting gravity?

So, what I'm doing is giving people the facts, so they can make up their minds, whether they want to continue business as usual and lose the quality of their life & of future generations AND die prematurely OR do they want to take proper mitigation measures, to try to stop what will happen to Humans, if the Climate Changes in the directions that we are nudging it to?

In other words Climate Change has some similarities to Obesity, in that it takes a long time to build up and while that is happening few recognise what is happening.
Then, one day, we wake up a realise we are fat and take action OR we don't realise & we don't wake up, we just die?

Is that what you want, for us & our children?       


And yet obesity, like climate change, can have many causes.....not all of them due to human action....

There is still no empirical proof that the current changes in climate are anything other than natural, or that man made Co2 is involved
...


Give it a break!

At any given point in time, we are the sum product of our heredity and our environment.


CRAP!

There's plenty of evidence, it's just that you don't want to look at it!



Really PN??? Ok so exactly where and when was it DIRECTLY observed and noted by a scientist that reducing atmospheric Co2 levels slows down changes to the world climate???

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"I just get sick of people who place a label on someone else with their own definition.

It's similar to a strawman fallacy"
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Re: What's the Real truth?
Reply #128 - Jun 17th, 2011 at 3:12pm
 
gizmo_2655 wrote on Jun 16th, 2011 at 9:54pm:
perceptions_now wrote on Jun 16th, 2011 at 6:44pm:
gizmo_2655 wrote on Jun 16th, 2011 at 2:26pm:
perceptions_now wrote on Jun 16th, 2011 at 2:13pm:
gizmo_2655 wrote on Jun 16th, 2011 at 1:09pm:
PN, why do you consistently try to convince people that humans are causing things that have existed naturally since long before the first hominid ancestor evolved????

Yes, the Greenhouse Effect is real, and has been around for as long as life has existed on Earth (in fact it's the reason life DOES exist on Earth.)

The same thing applies to climate change....it's been happening for billions of years...

Humans didn't 'cause' the climate to change nor did we cause the Greenhouse Effect....

You might as well say gravity is caused by the obesity epidemic among children....


It's good to see you agree, Gizmo, that "the Greenhouse Effect is real".

So, in the spirit of co-operation, I will agree that "Climate Change has been around for Billions of years, long before humans arrived".

I will also agree that, "humans did not cause/originate Climate Change, nor the Greenhouse Effect".

However, humans have impacted the Environment of this planet, of that there is no doubt, the only arguement is how much & what are the likely effects on current & future generations of Humans & other species?

What these and the majority of scientists are saying, is that the human impact on this planets delicate Environment, is just sufficient enough (over time) to tip the natural balance away from what would have happened, but for our impact.

In doing so, our nudge has been like many humans, who eat & drink many things, which are ok in moderation, but many of us consume too much of these things that are normally ok and the end result is many of us become obese or acquire other diseases, such as Diabetes.

The end result is the quality of many peoples lives is not what it should be and many will die a premature death! And that's not even counting gravity?

So, what I'm doing is giving people the facts, so they can make up their minds, whether they want to continue business as usual and lose the quality of their life & of future generations AND die prematurely OR do they want to take proper mitigation measures, to try to stop what will happen to Humans, if the Climate Changes in the directions that we are nudging it to?

In other words Climate Change has some similarities to Obesity, in that it takes a long time to build up and while that is happening few recognise what is happening.
Then, one day, we wake up a realise we are fat and take action OR we don't realise & we don't wake up, we just die?

Is that what you want, for us & our children?       


And yet obesity, like climate change, can have many causes.....not all of them due to human action....

There is still no empirical proof that the current changes in climate are anything other than natural, or that man made Co2 is involved
...


Give it a break!

At any given point in time, we are the sum product of our heredity and our environment.


CRAP!

There's plenty of evidence, it's just that you don't want to look at it!



Really PN??? Ok so exactly where and when was it DIRECTLY observed and noted by a scientist that reducing atmospheric Co2 levels slows down changes to the world climate???



As I already said, there's plenty of evidence, you just don't want to look at it!
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Re: What's the Real truth?
Reply #129 - Jun 17th, 2011 at 3:16pm
 
gizmo_2655 wrote on Jun 16th, 2011 at 9:54pm:
Really PN??? Ok so exactly where and when was it DIRECTLY observed and noted by a scientist that reducing atmospheric Co2 levels slows down changes to the world climate???



This is why we call you deniers.

Quote:
According to radiative physics and decades of laboratory measurements, increased CO2 in the atmosphere is expected to absorb more infrared radiation as it escapes back out to space. In 1970, NASA launched the IRIS satellite measuring infrared spectra. In 1996, the Japanese Space Agency launched the IMG satellite which recorded similar observations. Both sets of data were compared to discern any changes in outgoing radiation over the 26 year period (Harries 2001). What they found was a drop in outgoing radiation at the wavelength bands that greenhouse gases such as CO2 and methane (CH4) absorb energy. The change in outgoing radiation was consistent with theoretical expectations. Thus the paper found "direct experimental evidence for a significant increase in the Earth's greenhouse effect". This result has been confirmed by subsequent papers using data from later satellites (Griggs 2004, Chen 2007).


Figure 2: Change in spectrum from 1970 to 1996 due to trace gases. 'Brightness temperature' indicates equivalent blackbody temperature (Harries 2001).

When greenhouse gases absorb infrared radiation, the energy heats the atmosphere which in turn re-radiates infrared radiation in all directions. Some makes its way back to the earth's surface. Hence we expect to find more infrared radiation heading downwards. Surface measurements from 1973 to 2008 find an increasing trend of infrared radiation returning to earth (Wang 2009). A regional study over the central Alps found that downward infrared radiation is increasing due to the enhanced greenhouse effect (Philipona 2004). Taking this a step further, an analysis of high resolution spectral data allowed scientists to quantitatively attribute the increase in downward radiation to each of several greenhouse gases (Evans 2006). The results lead the authors to conclude that "this experimental data should effectively end the argument by skeptics that no experimental evidence exists for the connection between greenhouse gas increases in the atmosphere and global warming."

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Andrei.Hicks wrote on Sep 11th, 2011 at 11:23am:
So tell me, you'd like to see more and more craphouse coloured people in Australia right?&&Yeah good idea moron.&&
 
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Re: What's the Real truth?
Reply #130 - Jun 17th, 2011 at 3:18pm
 
stryder wrote on Jun 16th, 2011 at 8:36pm:
Yes it is a Hoax for me, I find many uncertainies in the science


Sure you do! Roll Eyes

Even if you HAD looked at the science, you quite obviously too stupid to understand it so it wouldn't make any difference. You're more than happy with the word of schlock jock and News Ltd trollumnists.
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Andrei.Hicks wrote on Sep 11th, 2011 at 11:23am:
So tell me, you'd like to see more and more craphouse coloured people in Australia right?&&Yeah good idea moron.&&
 
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Re: What's the Real truth?
Reply #131 - Jun 17th, 2011 at 3:19pm
 
chicken_lipsforme wrote on Jun 16th, 2011 at 1:09pm:
And surely it would have been more constructive had those intrepid record keepers have taken into account the blizzard conditions in Northern Europe thoughout the last decade rather than leaving them out of the calculations which makes up the 'average' temperatures.


You're a liar.
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Andrei.Hicks wrote on Sep 11th, 2011 at 11:23am:
So tell me, you'd like to see more and more craphouse coloured people in Australia right?&&Yeah good idea moron.&&
 
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perceptions_now
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Re: What's the Real truth?
Reply #132 - Jun 17th, 2011 at 3:30pm
 
Greenspan Tells Charlie Rose Default by Greece ‘Almost Certain’


June 16 (Bloomberg) -- Alan Greenspan, former Federal Reserve chairman, said a default by Greece is “almost certain” and could help drive the U.S. economy into recession.

“The problem you have is that it’s extremely unlikely the political system will work” in a way that solves Greece’s crisis, Greenspan, 85, said in an interview today with Charlie Rose in New York. “The chances of Greece not defaulting are very small.”

The chances of Greece defaulting are “so high that you almost have to say there’s no way out,” said Greenspan, who ran the central bank from 1987 to 2006. That may leave some U.S. banks “up against the wall.”

Greece’s debt crisis has the potential to push the U.S. into another recession, Greenspan said. Without the Greek issue, “the probability is quite low” of a U.S. recession, he said.

“There’s no momentum in the system that suggests to me that we are about to go into a double-dip,” Greenspan said.

U.S. Debt Limit
U.S. lawmakers are wrangling over spending cuts and budget reforms as they seek an agreement to increase the $14.3 trillion debt limit before Aug. 2, the date on which the Treasury Department said it will have exhausted its borrowing authority.

The U.S. debt issue is becoming “horrendously dangerous,” said Greenspan, who added he doubts lawmakers have another year or two to solve it.

Greenspan, appointed Fed chairman by Republican President Ronald Reagan, was once described as “the greatest central banker who ever lived” by economist Alan Blinder, the central bank’s former vice chairman.

He has since been blamed for contributing to the U.S. financial crisis by keeping interest rates low for too long and failing to regulate the mortgage market, according to critics including Allan Meltzer, a professor at Carnegie Mellon University in Pittsburgh, and members of the Financial Crisis Inquiry Commission.

Link -
http://noir.bloomberg.com/apps/news?pid=20601087&sid=a4yglSoar1pQ&pos=2
==========================
Greensapn gives us more of the usual -
Credible
Reliable
Abundant
Paradoxes

Talk about double speak, that's what Greensapn does, but not as well as he used to!

The Real truth is that Greece is very likely to default.

However, with or without a Greek default, the US is likely to re-enter an "official Recession".

In fact, if the US Bailouts & Stimulus programs were detracted from their GDP, as it should be, then the US would never have exited their Recession.

Finally, greenspan is nearly there, in respect of the U.S. debt issue, but instead of becoming “horrendously dangerous,” he should have said, it is already “horrendously dangerous”!

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Re: What's the Real truth?
Reply #133 - Jun 17th, 2011 at 3:33pm
 
astro_surf wrote on Jun 17th, 2011 at 3:16pm:
gizmo_2655 wrote on Jun 16th, 2011 at 9:54pm:
Really PN??? Ok so exactly where and when was it DIRECTLY observed and noted by a scientist that reducing atmospheric Co2 levels slows down changes to the world climate???



This is why we call you deniers.

Quote:
According to radiative physics and decades of laboratory measurements, increased CO2 in the atmosphere is expected to absorb more infrared radiation as it escapes back out to space. In 1970, NASA launched the IRIS satellite measuring infrared spectra. In 1996, the Japanese Space Agency launched the IMG satellite which recorded similar observations. Both sets of data were compared to discern any changes in outgoing radiation over the 26 year period (Harries 2001). What they found was a drop in outgoing radiation at the wavelength bands that greenhouse gases such as CO2 and methane (CH4) absorb energy. The change in outgoing radiation was consistent with theoretical expectations. Thus the paper found "direct experimental evidence for a significant increase in the Earth's greenhouse effect". This result has been confirmed by subsequent papers using data from later satellites (Griggs 2004, Chen 2007).


Figure 2: Change in spectrum from 1970 to 1996 due to trace gases. 'Brightness temperature' indicates equivalent blackbody temperature (Harries 2001).

When greenhouse gases absorb infrared radiation, the energy heats the atmosphere which in turn re-radiates infrared radiation in all directions. Some makes its way back to the earth's surface. Hence we expect to find more infrared radiation heading downwards. Surface measurements from 1973 to 2008 find an increasing trend of infrared radiation returning to earth (Wang 2009). A regional study over the central Alps found that downward infrared radiation is increasing due to the enhanced greenhouse effect (Philipona 2004). Taking this a step further, an analysis of high resolution spectral data allowed scientists to quantitatively attribute the increase in downward radiation to each of several greenhouse gases (Evans 2006). The results lead the authors to conclude that "this experimental data should effectively end the argument by skeptics that no experimental evidence exists for the connection between greenhouse gas increases in the atmosphere and global warming."



I wouldn't waste too much effort!

Some of those on here, would still be "skeptical", after both poles melt.
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Re: What's the Real truth?
Reply #134 - Jun 17th, 2011 at 4:42pm
 
WHat is this crap? Makes no sense and states the bleeding obvious. Looks very much like cut 'n paste to me. Is there anybody here or is it just spiders transferring garbage from news pages to here as posts?
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Re: What's the Real truth?
Reply #135 - Jun 17th, 2011 at 4:47pm
 
perceptions_now wrote on Jun 16th, 2011 at 7:54pm:
stryder wrote on Jun 16th, 2011 at 6:53pm:
Quote:
CRAP!

There's plenty of evidence, it's just that you don't want to look at it!

By Perceptions Now



Theoretical physics can prove an elephant can hang from a cliff with his tail tied to a daisy. ...



Kevin Costner. JFK,  Grin Grin Grin


You can think that, if you want. but science has taken us a long way, since the Stone Age & The Dark Ages.

You can also say there is a massive conspiracy and all the scientists & Politicians, are in on it? And, we whilst we will never know, you could be right?

But the vast body of information, evidence, physical substantiation & anecdotal confirmations, would appear to confirm what the scientists are saying is the case!  

Btw, I don't know that Kevin Costner is amy great actor, but I doubt he realyy cares, at this point, he has done well, for himself.


You're now quoting movie script lines as some evidence of something? Well, frankly, I'm walking here and you can't handle the truth. And I'll have what she's having too. I'm a stud, I really am, gimme those books.

WHat movies are they from and what do they prove?
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Re: What's the Real truth?
Reply #136 - Jun 17th, 2011 at 11:12pm
 

Quote:
As I already said, there's plenty of evidence, you just don't want to look at it!


And clearly you have missed what Empirical evidence means...

Sometime around 200 or 300 years ago, two events took place moderately close to each other (in time)..

The first was the Industrial Revolution, which commenced around 1800 (possible as early as 1760), when man started using steam, large scale metalworking etc

The second was the end of the Little Ice Age between 1850 and 1890 (both dates are used varioulsy..)

Current theory is that the first event directly caused the second event..and that the increased Co2 from the Industrial Revolution drove and is still driving the increases in global temperatures..

This is theoretical evidence ONLY..
Theoretical evidence is best described as "We THINK this is what's happening". It's reasonable starting point for an explanation...but it is by no means conclusive..

To be conclusive, it needs to be followed by empirical evidence....which is "what we have seen and tested"..

The only way to have conclusive, empirical evidence is to observe what happens when one of these two conditions changes and what happens to the OTHER one..

For example: If the Co2 levels drop, then we observe what the global temperatures do..
Alternatively, if the global temperatures drop (which has been mentioned by a number of people) we can observe what happens to the Co2 levels..

In either of these scenarios, both a change in the other condition or a lack of change will be empirical evidence...and conclusive..

If, as has been theorised by some scientists lately, the Earth enters another Little Ice Age due to reduced solar activity while the Co2 levels stay steady, or increase, this would be empirical proof of no relationship between Co2 and temperature......and that global warming is natural, not man-made...
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"I just get sick of people who place a label on someone else with their own definition.

It's similar to a strawman fallacy"
Bobbythebat
 
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Re: What's the Real truth?
Reply #137 - Jun 17th, 2011 at 11:15pm
 
progressiveslol wrote on Jun 1st, 2011 at 11:11pm:
perceptions_now


Pleeeeaaase. Scaremonger out of its box.





LOL touche
Now where's Chicken Little when you need him
Cheesy Cheesy Cheesy
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Re: What's the Real truth?
Reply #138 - Jun 17th, 2011 at 11:37pm
 
gizmo_2655 wrote on Jun 17th, 2011 at 11:12pm:
Quote:
As I already said, there's plenty of evidence, you just don't want to look at it!


And clearly you have missed what Empirical evidence means...

Sometime around 200 or 300 years ago, two events took place moderately close to each other (in time)..

The first was the Industrial Revolution, which commenced around 1800 (possible as early as 1760), when man started using steam, large scale metalworking etc

The second was the end of the Little Ice Age between 1850 and 1890 (both dates are used varioulsy..)

Current theory is that the first event directly caused the second event..and that the increased Co2 from the Industrial Revolution drove and is still driving the increases in global temperatures..

This is theoretical evidence ONLY..
Theoretical evidence is best described as "We THINK this is what's happening". It's reasonable starting point for an explanation...but it is by no means conclusive..

To be conclusive, it needs to be followed by empirical evidence....which is "what we have seen and tested"..

The only way to have conclusive, empirical evidence is to observe what happens when one of these two conditions changes and what happens to the OTHER one..

For example: If the Co2 levels drop, then we observe what the global temperatures do..
Alternatively, if the global temperatures drop (which has been mentioned by a number of people) we can observe what happens to the Co2 levels..

In either of these scenarios, both a change in the other condition or a lack of change will be empirical evidence...and conclusive..

If, as has been theorised by some scientists lately, the Earth enters another Little Ice Age due to reduced solar activity while the Co2 levels stay steady, or increase, this would be empirical proof of no relationship between Co2 and temperature......and that global warming is natural, not man-made...


You are a certifiable idiot!

Ask me why & I will tell you!
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Re: What's the Real truth?
Reply #139 - Jun 17th, 2011 at 11:49pm
 
gizmo_2655 wrote on Jun 17th, 2011 at 11:12pm:
Quote:
As I already said, there's plenty of evidence, you just don't want to look at it!


And clearly you have missed what Empirical evidence means...

Sometime around 200 or 300 years ago, two events took place moderately close to each other (in time)..

The first was the Industrial Revolution, which commenced around 1800 (possible as early as 1760), when man started using steam, large scale metalworking etc

The second was the end of the Little Ice Age between 1850 and 1890 (both dates are used varioulsy..)

Current theory is that the first event directly caused the second event..and that the increased Co2 from the Industrial Revolution drove and is still driving the increases in global temperatures..

This is theoretical evidence ONLY..
Theoretical evidence is best described as "We THINK this is what's happening". It's reasonable starting point for an explanation...but it is by no means conclusive..

To be conclusive, it needs to be followed by empirical evidence....which is "what we have seen and tested"..

The only way to have conclusive, empirical evidence is to observe what happens when one of these two conditions changes and what happens to the OTHER one..

For example: If the Co2 levels drop, then we observe what the global temperatures do..
Alternatively, if the global temperatures drop (which has been mentioned by a number of people) we can observe what happens to the Co2 levels..

In either of these scenarios, both a change in the other condition or a lack of change will be empirical evidence...and conclusive..

If, as has been theorised by some scientists lately, the Earth enters another Little Ice Age due to reduced solar activity while the Co2 levels stay steady, or increase, this would be empirical proof of no relationship between Co2 and temperature......and that global warming is natural, not man-made...


Oh FFS

http://www.skepticalscience.com/empirical-evidence-for-global-warming.htm

You haven't actually LOOKED at the evidence, you've just been told it doesn't eist. This is why you are a denier.
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Andrei.Hicks wrote on Sep 11th, 2011 at 11:23am:
So tell me, you'd like to see more and more craphouse coloured people in Australia right?&&Yeah good idea moron.&&
 
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Re: What's the Real truth?
Reply #140 - Jun 18th, 2011 at 12:30pm
 
astro_surf wrote on Jun 17th, 2011 at 11:49pm:
gizmo_2655 wrote on Jun 17th, 2011 at 11:12pm:
Quote:
As I already said, there's plenty of evidence, you just don't want to look at it!


And clearly you have missed what Empirical evidence means...

Sometime around 200 or 300 years ago, two events took place moderately close to each other (in time)..

The first was the Industrial Revolution, which commenced around 1800 (possible as early as 1760), when man started using steam, large scale metalworking etc

The second was the end of the Little Ice Age between 1850 and 1890 (both dates are used varioulsy..)

Current theory is that the first event directly caused the second event..and that the increased Co2 from the Industrial Revolution drove and is still driving the increases in global temperatures..

This is theoretical evidence ONLY..
Theoretical evidence is best described as "We THINK this is what's happening". It's reasonable starting point for an explanation...but it is by no means conclusive..

To be conclusive, it needs to be followed by empirical evidence....which is "what we have seen and tested"..

The only way to have conclusive, empirical evidence is to observe what happens when one of these two conditions changes and what happens to the OTHER one..

For example: If the Co2 levels drop, then we observe what the global temperatures do..
Alternatively, if the global temperatures drop (which has been mentioned by a number of people) we can observe what happens to the Co2 levels..

In either of these scenarios, both a change in the other condition or a lack of change will be empirical evidence...and conclusive..

If, as has been theorised by some scientists lately, the Earth enters another Little Ice Age due to reduced solar activity while the Co2 levels stay steady, or increase, this would be empirical proof of no relationship between Co2 and temperature......and that global warming is natural, not man-made...


Oh FFS

http://www.skepticalscience.com/empirical-evidence-for-global-warming.htm

You haven't actually LOOKED at the evidence, you've just been told it doesn't eist. This is why you are a denier.


As I have said previously, Gizmo, Maqqa & others, will simply continue to use misdirection & outright lies, to pander to their own ends, whatever they may be.

In essence, they have no interest in the REAL facts or the reality of Climate Change or the pros & cons of Nuclear Energy or Peak Energy or the Gloabl Financial situation.
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Re: What's the Real truth?
Reply #141 - Jun 18th, 2011 at 2:55pm
 
...

...

EIA data in top chart. Bottom chart uses mainly JODI data post 2005. The EIA data are reaching new peaks while the JODI data are range bound in the bumpy plateau.

Link -
http://www.theoildrum.com/node/7965
===================================
Where does the Real truth lie?

And, what are the ramifications?
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Re: What's the Real truth?
Reply #142 - Jun 18th, 2011 at 3:49pm
 
If the Data is in then it Damns the Technocrats and Professional class - they have failed and their class is no longer useful or required by society as a Governing force.  They are the big polluters and they must pay. Cool

The Economists, Scientists, Doctors, Lawyers, Engineers, ect have sourced themselves out of a job. Roll Eyes Roll Eyes
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I condemn Male Violence Against Women
The Government Supports Gynocide
There Is Something Dreadfully Wrong With Men
 
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Re: What's the Real truth?
Reply #143 - Jun 19th, 2011 at 10:27pm
 
The real truth is something that some on these boards, do not want to contemplate or are simply incapable of comprehending!

perceptions_now wrote on Jun 19th, 2011 at 8:14pm:
longweekend58 wrote on Jun 19th, 2011 at 7:33pm:
perceptions_now wrote on Jun 19th, 2011 at 6:30pm:
longweekend58 wrote on Jun 19th, 2011 at 5:36pm:
A 'depression' is defined as NEGATIVE GROWTH of at least 10% for a period of at least a year.
 

now let's talk about australia that has had 3 negative QUARTERS in almost 20 years.

you lot who are talking about the depression are referring to your mental state not our economic state. I am quite sure for you the Great Depression is already here. You will be eating Nasturtium sandwiches in the cold with no lighting while the rest of the country has meat and potatoes and holidays. The 'depresson' is a mind-set you created and then decided to live in - by choice.

Such folly is difficult to imagine - and yet you do it!


You are again or should I say still, talking in past tense, because that's where you reside, you can not get out of the past, you are stuck there, just like that other Conservative mob, the Liberals!


at least the past is ACCURATE and not like your vain imaginings of doom and gloom which you have been giving for years and years and yeras and been totally wrong.


Really? Which predictions were they?

What I've said, going back to Yahoo days in late 2006 to 2007, was that a Global Recession was coming and the causes were Demographic (Baby Boomer Bust) & Peak Energy.

That came true in late 2007, thru 2008 in the form of the GFC and the US & many other countries would still be in Recession, if they had not thrown a mountain of Debt at the problem, thus temporarily hiding the "official effects".

However, that temporary effect is now wearing off and as there is no more access to increase existing Debt levels, the full force of the GFC is about to return, as I suggested.

I also said that the Baby Boomer Demographics would push Housing over the edge in the US, in Europe, in OZ and most other countries.
The US started back around 2005, Europe has been on the decline for the last couple of years and OZ is now starting to feel the pinch.

So, I will claim that as another correct prediction and I will go further, by saying that Globally, housing has a lot further to adjust and the decline in existing suburban values, has a lot further to go, over the next 10-20 years!

Other than that, I have said by the end of 2012 the Peak Energy & Demographic situation, combined with Global Debt overload, should finally be apparent, even to the likes of yourself and the long term decline will have set in.

The other major issue I have raised is Climate Change and regrettably I doubt there will be agreement on that, until it is far too late, too take the mitigation measures, which maybe could have been put into place, to save the very worst effects or to be able to postpone them long enough to give future generations a chance.

So, again I ask, which predictions did I get wrong?  
   



Btw, I did also attempt to clarify the position on Depressions.


perceptions_now wrote on Jun 19th, 2011 at 7:32pm:

To set the record right, there is no generally agreed definition for a Depression, whereas there is for a Recession!

Perhaps, the main reason for that is there have been lots of Recessions and not too many Depressions.

However, one possible definition does refer to, "two general rules: (1) a decline in real GDP exceeding 10%, or (2) a recession lasting 2 or more years.

That said, the 10% criteria may not be a good indication, given the GDP decline in the US during the Great Depression, according to one description, was -
   1930 -8.6%
   1931 -6.4%
   1932 -13%
   1933 -1.3%.

Others suggestions include -
1) An economic depression is a severe downturn that lasts several years.
2) Unemployment being 25%.
3) A sustained, long-term downturn in economic activity.
4) A more severe downturn than a recession, which is seen by some economists as part of the modern business cycle.

And, just to make it MORE difficult, most countries now run statistics, which make a fair determination of the current Economic position, "somewhat clouded & difficult" to assess.

By way of example, the USA has declared itself "officially" out of Recession, but if the "stimulus, bailout packages & FED Reserve money printing, err laundering, oh you get what I mean, was detracted, then the US would still be well & truely in Recession and possibly nudging Depression.

What I'm saying is government figures are often Porky Pies!



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Re: What's the Real truth?
Reply #144 - Jun 20th, 2011 at 4:37pm
 
perceptions_now wrote on Jun 19th, 2011 at 10:27pm:
The real truth is something that some on these boards, do not want to contemplate or are simply incapable of comprehending!

perceptions_now wrote on Jun 19th, 2011 at 8:14pm:
longweekend58 wrote on Jun 19th, 2011 at 7:33pm:
perceptions_now wrote on Jun 19th, 2011 at 6:30pm:
longweekend58 wrote on Jun 19th, 2011 at 5:36pm:
A 'depression' is defined as NEGATIVE GROWTH of at least 10% for a period of at least a year.
 

now let's talk about australia that has had 3 negative QUARTERS in almost 20 years.

you lot who are talking about the depression are referring to your mental state not our economic state. I am quite sure for you the Great Depression is already here. You will be eating Nasturtium sandwiches in the cold with no lighting while the rest of the country has meat and potatoes and holidays. The 'depresson' is a mind-set you created and then decided to live in - by choice.

Such folly is difficult to imagine - and yet you do it!


You are again or should I say still, talking in past tense, because that's where you reside, you can not get out of the past, you are stuck there, just like that other Conservative mob, the Liberals!


at least the past is ACCURATE and not like your vain imaginings of doom and gloom which you have been giving for years and years and yeras and been totally wrong.


Really? Which predictions were they?

What I've said, going back to Yahoo days in late 2006 to 2007, was that a Global Recession was coming and the causes were Demographic (Baby Boomer Bust) & Peak Energy.

That came true in late 2007, thru 2008 in the form of the GFC and the US & many other countries would still be in Recession, if they had not thrown a mountain of Debt at the problem, thus temporarily hiding the "official effects".

However, that temporary effect is now wearing off and as there is no more access to increase existing Debt levels, the full force of the GFC is about to return, as I suggested.

I also said that the Baby Boomer Demographics would push Housing over the edge in the US, in Europe, in OZ and most other countries.
The US started back around 2005, Europe has been on the decline for the last couple of years and OZ is now starting to feel the pinch.

So, I will claim that as another correct prediction and I will go further, by saying that Globally, housing has a lot further to adjust and the decline in existing suburban values, has a lot further to go, over the next 10-20 years!

Other than that, I have said by the end of 2012 the Peak Energy & Demographic situation, combined with Global Debt overload, should finally be apparent, even to the likes of yourself and the long term decline will have set in.

The other major issue I have raised is Climate Change and regrettably I doubt there will be agreement on that, until it is far too late, too take the mitigation measures, which maybe could have been put into place, to save the very worst effects or to be able to postpone them long enough to give future generations a chance.

So, again I ask, which predictions did I get wrong?  
   



Btw, I did also attempt to clarify the position on Depressions.


perceptions_now wrote on Jun 19th, 2011 at 7:32pm:

To set the record right, there is no generally agreed definition for a Depression, whereas there is for a Recession!

Perhaps, the main reason for that is there have been lots of Recessions and not too many Depressions.

However, one possible definition does refer to, "two general rules: (1) a decline in real GDP exceeding 10%, or (2) a recession lasting 2 or more years.

That said, the 10% criteria may not be a good indication, given the GDP decline in the US during the Great Depression, according to one description, was -
   1930 -8.6%
   1931 -6.4%
   1932 -13%
   1933 -1.3%.

Others suggestions include -
1) An economic depression is a severe downturn that lasts several years.
2) Unemployment being 25%.
3) A sustained, long-term downturn in economic activity.
4) A more severe downturn than a recession, which is seen by some economists as part of the modern business cycle.

And, just to make it MORE difficult, most countries now run statistics, which make a fair determination of the current Economic position, "somewhat clouded & difficult" to assess.

By way of example, the USA has declared itself "officially" out of Recession, but if the "stimulus, bailout packages & FED Reserve money printing, err laundering, oh you get what I mean, was detracted, then the US would still be well & truely in Recession and possibly nudging Depression.

What I'm saying is government figures are often Porky Pies!





LW,
I will take YOUR silence, as YOUR admission that YOU were wrong and that my predictions have so far been correct, not right (of centre), just correct!!!
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Re: What's the Real truth?
Reply #145 - Jun 20th, 2011 at 4:51pm
 
Greek Default Spells ‘Havoc’ for Banks a Year After Bailout


June 20 (Bloomberg) -- A year after European officials bailed out Greece, investors say the region’s banks haven’t raised sufficient capital or cut loans enough to withstand the contagion that may follow a default.

While European lenders reduced their risk tied to Greece by 30 percent to $136.3 billion last year by not renewing loans, writing down the value of debt and shifting it off their books, they still have almost $2 trillion linked to Portugal, Ireland, Spain and Italy, figures from the Bank for International Settlements show, leaving them vulnerable if the crisis spreads.

“The Greek debt situation certainly has the potential to create havoc with the European banking system,” said Neil Phillips, a fund manager at BlueBay Asset Management Plc in London, which oversees about $45 billion. “A Greek default and the ramifications of that would be too ghastly for Europe and the European banking system to contemplate right now.”

Insolvency Fears
Concern that Greece was lurching toward insolvency drove the 48-company Bloomberg Europe Banks and Financial Services Index to a one-year low on June 16 and lifted the cost of insuring against default on the sovereign debt of Greece, Ireland and Portugal to record levels.

Analysts say contagion following a Greek default could play out like this: Refinancing costs for Ireland, Portugal, Spain and possibly Italy and Belgium would soar, thwarting efforts to rein in public deficits and putting states under pressure to restructure their debt as well; banks in countries with weak finances could face a run by depositors, while other lenders would see their capital eroded by credit writedowns; investors would shun equity markets and the euro and seek the safest securities. In a worst-case scenario, panic could freeze credit markets, as happened after the bankruptcy of New York-based Lehman Brothers Holdings Inc. in September 2008.

Market ‘Massacre’
“If, after a year of discussion without conclusion, we conclude there will be a haircut, the next morning the market will massacre Ireland, Portugal and maybe other countries,” Federico Ghizzoni, 55, chief executive officer of UniCredit SpA, told journalists in Vienna June 16, referring to a Greek default.

The concern is already having an impact on European banks. BNP Paribas SA, France’s biggest bank, and rivals Societe Generale SA and Credit Agricole SA may have their credit ratings cut by Moody’s Investors Service because of their investments in Greece, the ratings company said on June 15. German banks could also be at risk from contagion, Fitch Ratings said last month.

Infection Risk
Merkel said June 18 in Berlin that policy makers must make sure the Greek crisis doesn’t infect the rest of the euro region and spark a new global financial crisis.

“We all lived through Lehman Brothers,” she told a meeting of activists from her ruling Christian Democrat party. “I don’t want another such threat to emanate from Europe. We wouldn’t be able to control an insolvency.”

“The worst consequence of any Greek sovereign default for German and other European banks would be a sharp increase in general capital market and creditor risk aversion at a time when many banks are still in rehabilitation mode,” Michael Dawson- Kropf, a Frankfurt-based Fitch analyst, said in a May 25 report.

European banks are more at risk from a “disorderly” market reaction to Greek debt restructuring than any losses on their holdings of the country’s bonds, James Longsdon, a managing director at Fitch, said in an interview in Seoul today. Greek government debt held by European banks isn’t large enough to trigger an “insolvency event” at the lenders, he said.

Too Big to Shoulder
“The direct hit from Greece is manageable because investors have had time to prepare, but contagion to other countries is the big risk,” Roehmeyer said. “If the crisis spreads to Ireland, Portugal and Spain, it would be too big for the banks to shoulder.”

The impact of credit-default swaps, which led to the near- collapse of American International Group Inc. in 2008, may be limited in a Greek default. Credit-default swaps on Greek sovereign debt cover a net notional $5 billion, according to the Depository Trust & Clearing Corp., which runs a central registry that captures most trades. That’s only 1 percent of the government’s $482 billion of bonds and loans outstanding, according to data compiled by Bloomberg.

Link -
http://noir.bloomberg.com/apps/news?pid=20601087&sid=aGwvFUVMVv.E&pos=2
=====================================
So, some 3 & half years into the Great Recession, come Depression and all the Politicians, Economists & TPTB have done, is kick the can a little further down the same road.

And now, can they "successfully" kick it a little further again or NOT?

Anyone got a little nudge, for our old "friend" Wile. E Coyote?

...
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Re: What's the Real truth?
Reply #146 - Jun 20th, 2011 at 5:06pm
 
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Re: What's the Real truth?
Reply #147 - Jun 20th, 2011 at 5:22pm
 
Btw, in anticipation of European problems -
1) WTi crude is Down to $91.26, off another $1.75 today & well down from its position on May 1st of $113.93.
2) DOW Futures are currently down 81.
3) The ALL ORDS finished @ 4,512, which was down 39 today and well down from its recent Peak of 5,065 on 11/04/2011.

http://noir.bloomberg.com/?b=0
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Re: What's the Real truth?
Reply #148 - Jun 20th, 2011 at 6:19pm
 
I post this here, because it's relevant.

perceptions_now wrote on Jun 20th, 2011 at 6:14pm:
longweekend58 wrote on Jun 20th, 2011 at 5:40pm:
perceptions_now wrote on Jun 20th, 2011 at 4:08pm:
perceptions_now wrote on Jun 19th, 2011 at 8:14pm:
longweekend58 wrote on Jun 19th, 2011 at 7:33pm:
perceptions_now wrote on Jun 19th, 2011 at 6:30pm:
longweekend58 wrote on Jun 19th, 2011 at 5:36pm:
A 'depression' is defined as NEGATIVE GROWTH of at least 10% for a period of at least a year.  

now let's talk about australia that has had 3 negative QUARTERS in almost 20 years.

you lot who are talking about the depression are referring to your mental state not our economic state. I am quite sure for you the Great Depression is already here. You will be eating Nasturtium sandwiches in the cold with no lighting while the rest of the country has meat and potatoes and holidays. The 'depresson' is a mind-set you created and then decided to live in - by choice.

Such folly is difficult to imagine - and yet you do it!


You are again or should I say still, talking in past tense, because that's where you reside, you can not get out of the past, you are stuck there, just like that other Conservative mob, the Liberals!


at least the past is ACCURATE and not like your vain imaginings of doom and gloom which you have been giving for years and years and yeras and been totally wrong.


Really? Which predictions were they?

What I've said, going back to Yahoo days in late 2006 to 2007, was that a Global Recession was coming and the causes were Demographic (Baby Boomer Bust) & Peak Energy.

That came true in late 2007, thru 2008 in the form of the GFC and the US & many other countries would still be in Recession, if they had not thrown a mountain of Debt at the problem, thus temporarily hiding the "official effects".

However, that temporary effect is now wearing off and as there is no more access to increase existing Debt levels, the full force of the GFC is about to return, as I suggested.

I also said that the Baby Boomer Demographics would push Housing over the edge in the US, in Europe, in OZ and most other countries.
The US started back around 2005, Europe has been on the decline for the last couple of years and OZ is now starting to feel the pinch.

So, I will claim that as another correct prediction and I will go further, by saying that Globally, housing has a lot further to adjust and the decline in existing suburban values, has a lot further to go, over the next 10-20 years!

Other than that, I have said by the end of 2012 the Peak Energy & Demographic situation, combined with Global Debt overload, should finally be apparent, even to the likes of yourself and the long term decline will have set in.

The other major issue I have raised is Climate Change and regrettably I doubt there will be agreement on that, until it is far too late, too take the mitigation measures, which maybe could have been put into place, to save the very worst effects or to be able to postpone them long enough to give future generations a chance.

So, again I ask, which predictions did I get wrong?      


I will take YOUR silence, as YOUR admission that YOU were wrong and that my predictions have so far been correct, not right (of centre), just correct!!!


1) You predicted deep depression for USA. DIDNT HAPPEN

2) you predicted deep recession/depression for Australia. - EVEN FURTHER WRONG

3) you predicted a housing crash - DIDNT HAPPEN


you are so wrong you dont even know it.


1) As I've said, the US & many other countries, have already been in a substantial Recession, since 2007. If you detract the Stimulus & Bailouts, which you should, then many countries have effectively been in negative GDP territory for some 3-4 years.

And, between now & the end of 2012, even you will confirm that the Global Economy is in a sick & sorry state and yes, it is likely to be a Depression level, regrettably!

Regrettably, because it didn't have to be that way.

2) In fact, what I have consistently said, was that Australia was in a much better place Economically, thanks to a few decisions by both Labor & Liberal. But whilst they did make a few good decision, they were far too few.
That said, whilst OZ has done better than probably 90% of other countries, they will still be severely affected, by what comes next.

3) Yes, I did predict a housing crash, starting in the US & Europe and then moving to most other countries, including Australia.

The US has already experienced a 40% + decline in national housing values, their sale times are now much longer and their mortgage market is in chaos.
Europe is following that decline in housing values and Australia & other countries have now started to follow suit.

From where I sit, it did happen, it is happening & it will continue to happen, for the reasons that I have persistently outlined!

This is not usual business cycle slowdown, it is a once in history Economic event, of Tsunami/Earthquake proportions.

So, as I have said once or twice, good luck & watch the Debt!    
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Re: What's the Real truth?
Reply #149 - Jun 20th, 2011 at 8:12pm
 
perceptions_now wrote on Jun 20th, 2011 at 7:48pm:
longweekend58 wrote on Jun 20th, 2011 at 6:35pm:
so in summary... your predictions were wrong, just as I said. The USA didnt go into depression and we didnt go into recession nor did our house market crash.

I was right, you were wrong.


You definitely have a problem with comprehension, as well as the 3 R's Reading, wRiting & aRithmetic!  

Sorry, I almost forgot, the LW future prediction is that the next 20 years, will be the same as the last 20 years?????????
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Re: What's the Real truth?
Reply #150 - Jun 20th, 2011 at 8:13pm
 
I think now may be an appropriate time, to re-post an article, I original wrote in late 2006. The basics are still the same, although with a few refinements in the latest version, back in February, 2011.  
========================================
What is the Motor of the World and why is it stopping?

Let me say from the start, that the world and its financial system are now more interlocked than any other time in history and that the butterfly effect is very real. We have also stepped into the unknown, into a new paradigm and there is no going back!

What is the Motor of the World?
There will be many opinions, some will say China is now the motor of the world, some will say modern computers, some the US, some Oil, some this and some that. The truth is there are nearly 7 Billion opinions and most opinions would be at least partially true, given their particular time frame & perspective.

It would be correct to say that China has been a very significant force in global economics, certainly in the last 10-15 years. Certainly, the impact of computers and related electronics, over the last 50 years, has truly moved the world.

And, over 150 years, the US and Oil have been inseparable, as the driving forces of the global economy. Such a large part of the global economy today can be traced back to the US and it’s partnership with Oil.

But, in back of everything over the last 200 years particularly, has been the steady and un-relenting growth in population that has always been the major Driver or the engine of economic growth, at national and global levels.

However, that motor is stopping!

How did we get here?
Population Growth & Aging -
It took all of history, up to the year 1800 AD, for humanity to reach one Billion people. Baby Boomers had their origins in the population explosion that started during the Great Depression; they were a large part of our 3rd Billion and also part of the 4th Billion.

The population explosion really took off in 1945, it Peaked in 1956, reaching a Total Fertility Rate (TFR) of just under 5 children per woman, then levelled out to 1964, before slowing ever since, to a TFR of about 2.5.
Now, closing in on 7 Billion people, we are starting to exhaust the earth’s capacity to support human species and many others.

A continuation of past growth would have seen the global population increase to 10 Billion by 2050 and 20 Billion by 2150. Clearly, that is not likely to happen, as the TFR approaches the replacement level of 2.1 and the Global population growth continues to slow, the indications are that the global population will actually start to fall, within the next 20-30 years.

Why, because in addition to the already declining Fertility rate, we are now bumping into immovable objects, such as Peak Oil, Climate Change and Peak Food Production & fresh Water restrictions, all driven by the Global population and because most of the largest generation in history, the Baby Boomers, will die within the next 20-30 years.

With a few relatively minor interruptions, the period 1945 to 2005 was the greatest Global economic BOOM in history. In particular, the period 1995-2005 was a Growth Tsunami, driven by the Peak earning and spending capacity of US & other Global Baby Boomer consumers and the Peak Supply of Cheap & easily accessible Energy (Oil).

In addition, around the same time, technology drove massive gains in productivity; financial leverage multiplied tremendously from the historical 10/1 to 30/1 & above and interest rates in the US remained artificially low, for far too long, following the events of 9/11.
This was a perfect storm, for making money.

Link (Dr. Albert A. Bartlett - Arithmetic, Population, and Energy) –
http://www.youtube.com/view_play_list?p=9B70AC68E1D2AA54&search_query=Dr.+Albert...
Link (The Crash Course – Chris Martenson) -
http://www.chrismartenson.com/crashcourse
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Re: What's the Real truth?
Reply #151 - Jun 20th, 2011 at 8:14pm
 
What is the Motor of the World and why is it stopping? (Cont)


Peak Oil -
To make life more interesting, our number one Global Energy source (Oil) Oil also went from $10 a barrel, to nearly $150, in just a few short years. Whilst there may have been some external influences, the main reason for this huge increase was Supply & Demand.

And, while there are arguments for Abiotic Oil, Coal & Gas, there are drawbacks for these "replacements" and in some cases the source may not even exist (Abiotic), whilst other sources may actually create more problems than they solve, including that the future EROEI (Energy Return On Energy Invested) will continue to shrink and Energy costs (as a % of the National & Global Economy) continue to increase, both of which lessen the likelihood of the Economy staying in a positive growth mode.

Oil prices then retreated to levels lower than $40 a barrel, in expectation of a substantial fall in oil usage, arising from a slowing economy and the Oil price now seeks a new balance, between declining Oil production and the level of Economic Activity, with prices fluctuating in the $70-$80 range.

Transport, Plastics, Medicines, Chemicals, the list is almost endless, that are dependent on oil, no wonder the US has had such a long lasting love affair.

When historians look back, they really will say, "did they just burn all that oil".

Link – (The Inevitable Peaking of World Oil Production by Robert L. Hirsch)
http://www.acus.org/docs/051007-Hirsch_World_Oil_Production.pdf
Link (Dr. Albert A. Bartlett - Arithmetic, Population, and Energy) –
http://www.youtube.com/view_play_list?p=9B70AC68E1D2AA54&search_query=Dr.+Albert...
Link (The Crash Course – Chris Martenson) -
http://www.chrismartenson.com/crashcourse
Link (The Converging Crisis Ecology, Energy & Economics by Paul Cehurka) -
http://www.paulchefurka.ca/ConvergingCrisis.pdf
Link (PEAK OIL: The Eventual End of the Oil Age by Jonah J. Ralston -
https://www.msu.edu/~ralsto11/PeakOil.pdf
Other Links -
http://tonto.eia.doe.gov/cfapps/ipdbproject/iedindex3.cfm?tid=5&pid=53&aid=1&cid...
https://www.msu.edu/~ralsto11/PeakOil.pdf

Climate Change -
Climate is our greatest asset, but Climate changes are also starting to impact us now, as can be seen in the lack of water in some parts of the planet, increased storm severity in others and the melting of Glaciers and possibly the Polar Ice Caps.

Despite recent furores about some scientists, there is general agreement amongst the great bulk of scientists That Climate Change is indeed happening & to some extent it is “Caused by Man”, which begs the question, do we have the right to play Russian Roulette, with the survival of future generations and indeed the human species.

We have already passed major climate tipping points, the planets climate is set to get very difficult for humanity, including a possible new ice age. Sure, we can take the chance that the scientists have it wrong, but then if their correct, this could be a massive Extinction Event.
NOAA Link –
http://www.climate.gov/#climateWatch
NOAA Mauna Loa CO2 Link –
http://www.esrl.noaa.gov/gmd/ccgg/trends/
NASA Link –
http://www.giss.nasa.gov/research/briefs/

Peak Food Production –
With the total global population still bursting at the seams, for the time being, we must make sure everything possible is done to ensure food production is provided for the increasing population, right?

Wrong, instead we are diverting large parts of agricultural production away from food production and into the production of fuels, as a replacement for Oil.

Even if we wanted to boost Food production, Climate Change is and will continue to, raise serious questions on our present and future capacity, to deliver enough food, to keep the surging global population fed.  
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Re: What's the Real truth?
Reply #152 - Jun 20th, 2011 at 8:15pm
 
What is the Motor of the World and why is it stopping? (Cont)


Where are we now and where to next?
Whilst the sub-prime debacle in the US has its own distinct origins, including NINJA mortgages (Greed), it has highlighted falling Real Estate values and New Housing starts, which has separate Demographic origins and had been declining for some time.

In economic terms, the primary driver of the real global economy is consumer demand. The largest demand driver is the 45-55 age group, primarily in the USA, due their large earning and spending capacity.

Demographic levels are already being re-shaped, as nearly two Billion Baby Boomers have commenced a 20 year transition from being big spenders, to big Retirement savers, to thrifty Retirees, before leaving us forever, in increasing numbers.

This massive aging of the global population is changing the dynamics of the world economy, with the bulk of Boomer wealth likely to pass on before they do and as the generations following behind the Baby Boomers, are relatively less in numbers.

In particular, Real Estate and New Housing markets, particularly in the US & Europe have already fallen and continue to do so, arising from a lowering in demand, led by thrifty and retiring Boomers.
Link to Aging Population issues -
http://ezinearticles.com/?The-Economys-Greatest-Depression-Downturn-Ever-Is-Now-...

As if housing issues were not enough, the aging process will also introduce some $50 Trillion in unfunded Health and Social Security costs, in the USA.

So, in the short to medium term, we will see:
1) Constraints, both in the Supply of & Demand for, Oil.
2) A massive de-leveraging of financial markets, including some $800 Trillion in the Derivatives markets.
3) Government Budget deficits are set to continue to expand, due to the Global Debt crisis.
4) Massive increases Health and Social Security Costs, again expanding deficits.
5) Problems arising from Climate Change and Food production.

You can guess what awaits with Taxes, in the near future, to pay for past indulgences. This will happen, irrespective of what side of politics is in power.

And, with Debt levels already at historical highs, we will see past fixes, either not able to be used or possibly set to cause more harm, than help.

Now, we are just past the Peak of a once in history Population Growth Mega Cycle.
Now, the reality looms of a slowing economic future, as reflected in stock markets and oil prices, next the Economic Growth Fairy dies.

Now, the perfect storm will reappear, this time as a Cat 5 in financial demolition!


What Futures await?
The very basis of modern life will be shaken, the magnitude of the quake, will be 9.9.
Whether we arrived at this situation, by accident or design, we are never likely to know, although events suggest a mixture of both, seems probable.
So, the design has now been set in motion and we now enter the 2nd quarter, of the highest stakes game, ever played!

Unlike the Great Depression, we are now truly between a rock and a really hard place.

The truth is, there is no magical, Hollywood, easy fix.
The truth is, there is no pot of gold at the end of the Kansas rainbow.
The truth is, we are in DEAP Sh!t –
Debt (Global) –
Debt is going into unknown territory, in many countries, heading north towards 100% of GDP & beyond!
Energy Decline (Global) – All the easy to get, cheap Energy has already gone, what’s left is the other side of the Hubert’s Curve.
Aging Population (Global) – The Employment Participation ratio has commenced declining, as Boomers first retire, then die, 2 Billion of them.
Population Decline (Global) – the rate of growth is slowing & the total will actually start to decline, within 20-30 years.

Had corrective decisions been made earlier, then it may have been possible to reduce some of the worst side effects, regrettably, that did not happen.

Regrettably, if we opt for a better now, then future generations will pay for our mistakes and indulgence.
That reasoning is not acceptable and can not be allowed to succeed!

As we look to the future, we need to look thru different eyes, thru different thought processes.
The days of Smoke & Mirrors, of Shock & Awe, of the Desire to Acquire & Retain Power, of Self interest, at the expense of societal interest, must end.

Can we make those changes, the answer is YES!
Will the required changes be made? Now there, is a $64 Trillion question!

The answers will come on these boards and others, in other forums, in politics, in business and the answers will need to come quickly.    

There are discussions that must take place and Mindsets that must change; the time has come to look beyond borders and elections.

Good luck & watch the Debt!

=====================================
I can see it now, LW's response is, I'm right (which he definitely is, of centre) & your wrong.
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Re: What's the Real truth?
Reply #153 - Jul 1st, 2011 at 8:03pm
 
What Insurance Companies Know About Climate Change That You Don’t


While climate zombies in Congress are lurching in lockstep toward environmental catastrophe, the insurance industry has been scrambling to act. It’s well past time we listened to what they have to say. Insofar as the Republican party is the party of business, they might want to lend an ear as well.

Insurance companies have a vested interest in reducing the risks of climate change. Like scientists and the military, they’re used to dealing with and planning for uncertainty. As scientists have made clear, climate change is cranking up the dial on extreme weather. Over the last 30 years, catastrophic economic losses have been rising (pdf) with the global temperature, which chops into insurance firms’ profits. With landscapes and livelihoods being sucked into the extreme weather vortex, insurance firm executives – especially in Europe – are getting the message.

The insurance industry is all about risk assessment and capital accumulation. Katrina-like catastrophes lurk on the discernibly warmer horizon, giving insurance companies a real deal incentive to slice against the zeitgeist of denial. As Frank Nutter, president of the Reinsurance Association of America, told the select committee on energy independence and global warming in 2007, “The insurance industry’s financial interest is inter-dependent with climate and weather.”

Over the last five years, the insurance industry has become increasingly proactive on climate change, in terms of both underwriting and investment. Reinsurance companies – essentially firms that insure the insurers to manage and defray risk – have taken the lead. In September 2007, insurance firms formed ClimateWise in order to reduce economic risk associated with climate change.

That same year, Andrew Castaldi, head of the catastrophe risk unit for the Swiss Re America Corp, testified to the Senate’s homeland security and governmental affairs committee, “We believe unequivocally that climate change presents an increasing risk to the world economy and social welfare.”

In 2008, Ernst & Young – not known for having to peel bark from their sweater vests after intensive treehugging sessions – named climate change the number one risk to the insurance industry. In a 2009 report, Lloyd’s of London warned of climate change contributing to “resource-driven conflicts; economic damage and risk to coastal cities and infrastructure; loss of territory and resultant border disputes; environmentally induced migration; government fragility; political radicalisation; tensions over energy supplies and pressures on international governance”.

And this month, while US media fail to consistently connect the dots between weather patterns and climate change, Munich Re – the world’s biggest reinsurer – stated plainly, “weather extremes such as the massive floods experienced by China since early June are due to the advance of climate change.” While acknowledging factors like population growth and rising property values – especially in risk-prone areas – Munich Re wrote, “it would seem that the growing number of weather-related catastrophes can only be explained by climate change.”

Unlike the “poisonous polluters and rightwing ideologues” Al Gore recently skewered in Rolling Stone, the insurance industry is perfectly willing to rely on the scientific consensus as put forth by the Intergovernmental Panel on Climate Change. Citing the IPCC, Munich Re noted, “The view that weather extremes are more frequent and intense due to global warming is in keeping with current scientific findings.” Meanwhile, on the investment side, Munich Re is jacking up its investments in renewable energy assets and operations, while assigning SunPower Corp to develop a massive, 2.5 megawatt solar power system for its offices in New Jersey.

Let’s be clear: insurance firms aren’t altruists; they’re capitalists. A rise in extreme weather means a fall in their profits. This is hardball economics based on risk analysis, not save-the-polar-bears stuff.


European reinsurers have taken the lead in this outburst of rational behaviour, with their counterparts in the US lagging in their wake. In Europe, insurance companies have pressured their governments to push policies that mitigate the human role in climate change, while in the US, insurance firms have tended to focus more on extreme weather events and how to adapt to them.

Quite logically, property insurance companies are taking the lead, with life and health insurance firms trailing behind. Reuters recently reported the spate of tornadoes in the US midwest will cost insurers more than bn, while the twister in Joplin, Missouri alone will spawn a bn bill. Insurance companies are perfectly willing to pass along premium hikes to consumers, but they’re also up for concerted CO2 regulation that could eventually assuage the pocks on their profits.

The insurance industry can only take us so far. We need political leadership – and a vibrant, fully-mobilised social movement pushing that leadership – to make it the rest of the way. With climate change perilously approaching irreversibility, our time is running out.

Link -
http://www.psfk.com/2011/06/why-the-insurance-industry-gets-climate-change.html
=========================
After some 40 years in the insurance sector, I agree with the trust of the article!
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Re: What's the Real truth?
Reply #154 - Jul 1st, 2011 at 9:46pm
 
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Re: What's the Real truth?
Reply #155 - Jul 1st, 2011 at 10:25pm
 
Here is a reply to the PDF linked to by Progressiveslol.
The person addressing the claims accuses D'aleo, the PDF's author, as posting irrelevant, contradictory, and plain wrong, information, in his work, and is classified by his critic as a "pseudo-skeptic", presenting yet more of the same denialist flotsam we have come to expect.

Posting graphs, and making bold statements in scientific language is very much the stuff of this whole issue, but the difference between a solitary skeptic just putting all his ideas and opinions down in an anti-warming manifesto, does not earn the same need for serious consideration, as work that is peer reviewed, where the data is checked and tested by other scientists, and deemed as credible.

It goes back to trust, and the skeptics still keep asking that we believe the unfounded and unverified opinions of lone opponents to the AGW debate, yet continue to dismiss as false, and unreliable, all the highly scrutinised, and commonly accepted results of the serious climate scientists.

Do they not recognise how perverse that makes their claims of seeking the truth look?

Work that is highly scrutinised, and thoroughly checked, and then accepted by the scientific community, is not to be trusted, but a collection of unsupported, and untested, or if tested, proven false, objections from an individual skeptic, is accepted by them as obvious truth.

These psuedo skeptics are not really looking for truth at all, are they?
No, they are just looking for validation for their opinions, and the bar they set so high for legitimate scientists, is removed completely for any they hope can provide some of that validation for them.

Truth?
They can't handle the truth.(apologies to Jack Nicholson)
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OOPS!!! My Karma, ran over your Dogma!
 
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Re: What's the Real truth?
Reply #156 - Jul 1st, 2011 at 10:54pm
 
mozzaok wrote on Jul 1st, 2011 at 10:25pm:
Here is a reply to the PDF linked to by Progressiveslol.
The person addressing the claims accuses D'aleo, the PDF's author, as posting irrelevant, contradictory, and plain wrong, information, in his work, and is classified by his critic as a "pseudo-skeptic", presenting yet more of the same denialist flotsam we have come to expect.

Posting graphs, and making bold statements in scientific language is very much the stuff of this whole issue, but the difference between a solitary skeptic just putting all his ideas and opinions down in an anti-warming manifesto, does not earn the same need for serious consideration, as work that is peer reviewed, where the data is checked and tested by other scientists, and deemed as credible.

It goes back to trust, and the skeptics still keep asking that we believe the unfounded and unverified opinions of lone opponents to the AGW debate, yet continue to dismiss as false, and unreliable, all the highly scrutinised, and commonly accepted results of the serious climate scientists.

Do they not recognise how perverse that makes their claims of seeking the truth look?

Work that is highly scrutinised, and thoroughly checked, and then accepted by the scientific community, is not to be trusted, but a collection of unsupported, and untested, or if tested, proven false, objections from an individual skeptic, is accepted by them as obvious truth.

These psuedo skeptics are not really looking for truth at all, are they?
No, they are just looking for validation for their opinions, and the bar they set so high for legitimate scientists, is removed completely for any they hope can provide some of that validation for them.

Truth?
They can't handle the truth.(apologies to Jack Nicholson)

I dont ask anything of you. Take it as you will and have.
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Re: What's the Real truth?
Reply #157 - Jul 1st, 2011 at 11:28pm
 
progressiveslol wrote on Jul 1st, 2011 at 9:46pm:


I wonder why doesn't Mr. D'Aleo submit his critique for review in a science journal, and not by a free market think tank?

Oh, that's right, because it's a hodge-podge of long discredited denier talking points and hasn't been published to convince scientists rather to convince ignorant plebes like proglulz!
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Andrei.Hicks wrote on Sep 11th, 2011 at 11:23am:
So tell me, you'd like to see more and more craphouse coloured people in Australia right?&&Yeah good idea moron.&&
 
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Re: What's the Real truth?
Reply #158 - Jul 2nd, 2011 at 1:23am
 
stryder wrote on Jun 1st, 2011 at 11:52pm:
Quote:
What if what if. What are the costs to our children.


You see the Climate Change nazis CANT WIN THE CARBON TAX DEBATE BECAUSE AFTER MONTHS OF PROPAGANDA USING DUBIOUS AND VAGUE SCIENCE, THE MAJORITY OF THE AUSTRALIAN PEOPLE STILL DONT WANT THE CARBON TAX

So what do they do, use the last resort and scaremonger people into submission which looks like it will never work,

THANK GOD, PEOPLE ARE MORE INTELIGIENT THAN THESE CLIMATE CHANGE NAZIS.


It's only vague because you refuse to believe it. To hell with Queenslanders who right now haven't got a home let alone a chance to tell you you're a tool.
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Re: What's the Real truth?
Reply #159 - Jul 2nd, 2011 at 1:54am
 
GoddyofOz wrote on Jul 2nd, 2011 at 1:23am:
stryder wrote on Jun 1st, 2011 at 11:52pm:
Quote:
What if what if. What are the costs to our children.


You see the Climate Change nazis CANT WIN THE CARBON TAX DEBATE BECAUSE AFTER MONTHS OF PROPAGANDA USING DUBIOUS AND VAGUE SCIENCE, THE MAJORITY OF THE AUSTRALIAN PEOPLE STILL DONT WANT THE CARBON TAX

So what do they do, use the last resort and scaremonger people into submission which looks like it will never work,

THANK GOD, PEOPLE ARE MORE INTELIGIENT THAN THESE CLIMATE CHANGE NAZIS.


It's only vague because you refuse to believe it. To hell with Queenslanders who right now haven't got a home let alone a chance to tell you you're a tool.

Pleeeeaase. QLD have nothing to do with CO2
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Re: What's the Real truth?
Reply #160 - Jul 2nd, 2011 at 2:04am
 
progressiveslol wrote on Jul 2nd, 2011 at 1:54am:
GoddyofOz wrote on Jul 2nd, 2011 at 1:23am:
stryder wrote on Jun 1st, 2011 at 11:52pm:
Quote:
What if what if. What are the costs to our children.


You see the Climate Change nazis CANT WIN THE CARBON TAX DEBATE BECAUSE AFTER MONTHS OF PROPAGANDA USING DUBIOUS AND VAGUE SCIENCE, THE MAJORITY OF THE AUSTRALIAN PEOPLE STILL DONT WANT THE CARBON TAX

So what do they do, use the last resort and scaremonger people into submission which looks like it will never work,

THANK GOD, PEOPLE ARE MORE INTELIGIENT THAN THESE CLIMATE CHANGE NAZIS.


It's only vague because you refuse to believe it. To hell with Queenslanders who right now haven't got a home let alone a chance to tell you you're a tool.

Pleeeeaase. QLD have nothing to do with CO2


If those who you despise so much are to be believed, QLD has everything to do with CO2.
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"A Conservative is a man who just sits and thinks, mostly just sits." - Woodrow Wilson.

True Patriotism is serving your country all the time, and serving your Politicians when they deserve it.
 
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Re: What's the Real truth?
Reply #161 - Jul 2nd, 2011 at 2:06am
 
GoddyofOz wrote on Jul 2nd, 2011 at 2:04am:
progressiveslol wrote on Jul 2nd, 2011 at 1:54am:
GoddyofOz wrote on Jul 2nd, 2011 at 1:23am:
stryder wrote on Jun 1st, 2011 at 11:52pm:
Quote:
What if what if. What are the costs to our children.


You see the Climate Change nazis CANT WIN THE CARBON TAX DEBATE BECAUSE AFTER MONTHS OF PROPAGANDA USING DUBIOUS AND VAGUE SCIENCE, THE MAJORITY OF THE AUSTRALIAN PEOPLE STILL DONT WANT THE CARBON TAX

So what do they do, use the last resort and scaremonger people into submission which looks like it will never work,

THANK GOD, PEOPLE ARE MORE INTELIGIENT THAN THESE CLIMATE CHANGE NAZIS.


It's only vague because you refuse to believe it. To hell with Queenslanders who right now haven't got a home let alone a chance to tell you you're a tool.

Pleeeeaase. QLD have nothing to do with CO2


If those who you despise so much are to be believed, QLD has everything to do with CO2.

Well they are not to be believed on their doom and gloom scaremongering. Even the idiots all faithful IPCC says the weather events have nothing to do with CO2, so far. The guy at weatheraction even predicted the events.
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Re: What's the Real truth?
Reply #162 - Jul 2nd, 2011 at 2:15pm
 
progressiveslol wrote on Jul 2nd, 2011 at 2:06am:
GoddyofOz wrote on Jul 2nd, 2011 at 2:04am:
progressiveslol wrote on Jul 2nd, 2011 at 1:54am:
GoddyofOz wrote on Jul 2nd, 2011 at 1:23am:
stryder wrote on Jun 1st, 2011 at 11:52pm:
Quote:
What if what if. What are the costs to our children.


You see the Climate Change nazis CANT WIN THE CARBON TAX DEBATE BECAUSE AFTER MONTHS OF PROPAGANDA USING DUBIOUS AND VAGUE SCIENCE, THE MAJORITY OF THE AUSTRALIAN PEOPLE STILL DONT WANT THE CARBON TAX

So what do they do, use the last resort and scaremonger people into submission which looks like it will never work,

THANK GOD, PEOPLE ARE MORE INTELIGIENT THAN THESE CLIMATE CHANGE NAZIS.


It's only vague because you refuse to believe it. To hell with Queenslanders who right now haven't got a home let alone a chance to tell you you're a tool.

Pleeeeaase. QLD have nothing to do with CO2


If those who you despise so much are to be believed, QLD has everything to do with CO2.

Well they are not to be believed on their doom and gloom scaremongering. Even the idiots all faithful IPCC says the weather events have nothing to do with CO2, so far. The guy at weatheraction even predicted the events.


You and Monckton would be good mates, but both of you, don't know Jack Schitt!
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Re: What's the Real truth?
Reply #163 - Jul 8th, 2011 at 6:16pm
 
Jobs, not climate change, priority for Latrobe Valley


AS PRIME Minister Julia Gillard ponders where to kick off her carbon tax spruiking tour of the nation next week, it's possible she'll consider visiting Victoria's coalmining heartland, the Latrobe Valley. She can be sure its largely unimpressed citizens will be waiting for her.

''I'd love for Julia to commence her campaign on Sunday here in the valley,'' Morwell furniture store owner Jerry Van Dyke said. ''It'd be terrific. She'd get a rousing reception for sure.''

There is plenty of fear and loathing of the carbon tax in the Latrobe Valley, which is unsurprising given most of its 74,000 citizens earn a living either directly or indirectly through the coal industry.

Mr Van Dyke said yesterday that he was ''definitely not'' in favour of a carbon tax: ''Not if you live in the valley, I don't think many people would be.''

The Gillard government promises to compensate about seven out of every 10 households to ease the transition to a low-carbon economy. But Mr Van Dyke said cash handouts would never fully compensate for lost jobs.

''The majority of our customers would work in electricity generation in one way or another, they're the biggest customer here, so we're very reliant on them,'' said Mr Van Dyke, who described himself as ''a little bit of a sceptic'' about climate change.

Audiologist Vijay Packery said he supported the majority scientific view that climate change was real and a threat to future generations, but many of his patients were much more fearful about the tax's perceived threat to their jobs.

''Jobs will be in jeopardy,'' Mr Packery said.

''I get a lot of clients from the power stations. They are concerned about rising prices in general. The carbon tax just adds to it.''

The full details of the carbon tax will be released on Sunday in Canberra, after which Ms Gillard promises to wear out her shoes travelling around Australia explaining it to people.

Bookshop manager Luke Dearlove offered a lone vote of confidence in Ms Gillard among the people The Age spoke to in Morwell, although he said the Prime Minister was ''probably committing political suicide'' over the issue.

''Maybe later we'll say she's a good person to stand up and make this happen rather than looking to the short-term political advantage the way [Opposition Leader] Tony Abbott seems to be,'' Mr Dearlove, who favours a price on carbon, said.

He was less convinced about the merits of compensation.

''I don't understand what compensation is for if the whole point is to put pain on people so they change,'' he said.

''If you're going to compensate big business or polluters for polluting then it's pointless.''

Mother Kayelene Rundle, who is on a pension, said she believed in climate change but feared the ''stupid'' tax would increase living costs for people already struggling to pay bills.

''I'd like to ask [Ms Gillard] why she lied and took back what she said she'd do,'' Ms Rundle said.

Link -
http://www.smh.com.au/environment/climate-change/jobs-not-climate-change-priorit...
=========================
There are two major factors that motivate most people, more than other factors -
1) Self interest
2) Now, not later.

That said, let me make a couple of obeservations -
1) The Carbon Tax, is primarily a TAX.
2) The Carbon Tax has zero chance of substantially impacting Australia's trend, in terms of Climate impact, let alone making any difference on a Global Scale.
3) Taxes, under any guise/name & no matter which Political Party is in power, will need to increase substantially, as a percentage of GDP, over the next 10-20 years, to try to cope with the costs of an Aging Population, the increased costs that are inherent as the Australian & Global Economy transition away from Fossil Fuel Energy and as the Global Economy transitions away from an Economy deeply mired in Debt!
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Re: What's the Real truth?
Reply #164 - Jul 8th, 2011 at 7:35pm
 
The Great Recession, Part II


The world could be headed for another economic disaster if we continue to listen to free-market ideologues.
By Joseph E. Stiglitz

Just a few years ago, a powerful ideology—the belief in free and unfettered markets—brought the world to the brink of ruin.
Even in its heyday, from the early 1980s until 2007, American-style deregulated capitalism brought greater material well-being only to the very richest of the richest country of the world. Indeed, over the course of this ideology's 30-year ascendance, most Americans saw their incomes decline or stagnate.

Moreover, output growth in the United States was not economically sustainable. With so much of U.S. national income going to so few, growth could continue only through consumption financed by a mounting pile of debt.

I was among those who hoped that, somehow, the financial crisis would teach Americans (and others) a lesson about the need for greater equality, stronger regulation, and a better balance between the market and government. Alas, that has not been the case. On the contrary, a resurgence of right-wing economics, driven by ideology and special interests, once again threatens the global economy—or at least the economies of Europe and North America, where these ideas continue to flourish.

In the United States, this right-wing resurgence, whose adherents evidently seek to repeal the basic laws of math and economics, is threatening to force a default on the national debt. If Congress mandates expenditures that exceed revenues, there will be a deficit, and that deficit has to be financed. Rather than balancing the benefits of each government expenditure program with the costs of raising taxes to finance those benefits, the right seeks to use a sledgehammer—not allowing the national debt to increase forces expenditures to be limited to taxes.

This leaves open the question of which expenditures get priority. If expenditures to pay interest on the national debt are not prioritized, a default is inevitable. Moreover, to cut back expenditures now, in the midst of a crisis brought on by free-market ideology, would inevitably prolong the downturn.

A decade ago, in the midst of an economic boom, the United States faced a surplus so large that it threatened to eliminate the national debt.
Unaffordable tax cuts and wars, a major recession, and soaring health care costs
—fueled in part by the commitment of George W. Bush's administration to giving drug companies free rein in setting prices, even with government money at stake—quickly transformed a huge surplus into record peacetime deficits.


The remedies to the U.S. deficit follow immediately from this diagnosis: Put America back to work by stimulating the economy; end the mindless wars; rein in military and drug costs; and raise taxes, at least on the very rich. But the right will have none of this, and instead is pushing for even more tax cuts for corporations and the wealthy, together with expenditure cuts in investments and social protection that put the future of the U.S. economy in peril and that shred what remains of the social contract. Meanwhile, the U.S. financial sector has been lobbying hard to free itself of regulations, so that it can return to its previous, disastrously carefree, ways.

But matters are little better in Europe. As Greece and other countries face crises, the medicine du jour is simply timeworn austerity packages and privatization, which will merely leave the countries that embrace them poorer and more vulnerable. This medicine failed in East Asia, Latin America, and elsewhere, and it will fail in Europe, too. Indeed, it has already failed in Ireland, Latvia, and Greece.

There is an alternative: an economic-growth strategy supported by the European Union and the International Monetary Fund. Growth would restore confidence that Greece could repay its debts, causing interest rates to fall and leaving more fiscal room for further growth-enhancing investments. Growth itself increases tax revenues and reduces the need for social expenditures, such as unemployment benefits. And the confidence that this engenders leads to still further growth.

Regrettably, the financial markets and right-wing economists have gotten the problem exactly backward: They believe that austerity produces confidence, and that confidence will produce growth. But austerity undermines growth, worsening the government's fiscal position, or at least yielding less improvement than austerity's advocates promise. On both counts, confidence is undermined, and a downward spiral is set in motion.


Do we really need another costly experiment with ideas that have repeatedly failed? We shouldn't, but increasingly it appears that we will have to endure another one nonetheless. A failure of either Europe or the United States to return to robust growth would be bad for the global economy. The failure of both would be disastrous—even if the major emerging-market countries have attained self-sustaining growth. Unfortunately, unless wiser heads prevail, that is the way the world is heading.

Link -
http://www.slate.com/id/2298580/
==============================
There MAY have been, in times past, periods where right wing Aus-terity ideology may have looked like it worked.

However, in the period ahead, even that appearance, will not be possible!  
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Re: What's the Real truth?
Reply #165 - Jul 12th, 2011 at 8:54am
 
Wall St dives on Italy worries


US stocks slumped this morning, as another round of anxiety over Europe's debt crisis spurred investors to flee risky assets like stocks.

The Dow Jones Industrial Average dropped 151.44 points, or 1.20 per cent, to 12,505.76, as investors rushed for the US dollar, gold and other perceived safe havens. The Standard & Poor's 500-stock index slid 24.31 points, or 1.81 per cent, to 1319.49, with all sectors in the red. The Nasdaq Composite tumbled 57.19 points, or 2.00 per cent, to 2802.62.

Euro-zone anxieties widened beyond Greece as a panic over Italy's government debt and banking sector yesterday triggered a 4 per cent drop in Italy's FTSE MIB stock index. Spain was also in focus after the new leader of the Castilla La Mancha region said the area's government has a budget deficit more than twice as large as previously thought. Italian and Spanish yields jumped to euro-era records.

The latest euro-zone developments spurred worries the continent's debt crisis is spiralling out of control, threatening to create a wider emergency for global markets. The sell-off overshadowed investors' hopes for US corporate earnings season, which kicked off unofficially today.

"Sentiment has shifted back to 'glass is half empty,'" said Mark Luschini, chief investment strategist at Janney Montgomery Scott. The pessimism started with a weak reading on US employment Friday, Mr Luschini said. It set the stage for a more dramatic sell-off today with signs of worsening in Europe's debt crisis.

"The concern is whether we are getting another financial crisis relating to sovereign debt," said Alan Gayle, chief investment strategist for RidgeWorth Investments.

Link -
http://www.theaustralian.com.au/business/markets/wall-st-dives-on-europe-worries...
=====================================
The truth is, this is what spooked the Australian share markets yesterday, not the Carbon Tax!


Or, at least, this and a mixture of the other Global concerns I have written about.

Btw, the US$ index spiked nearly a full cent yesterday, in the usual "flight to quality", because of renewed jitters about Italy and the other European Piigs, whilst the Euro dropped to 1.4067 against the US$, after closing last Friday at 1.4264.

However, the sick joke is that the US Economy, Debt situation & Currency, is actually worse than most of the European Piigs!
Go figure?
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Re: What's the Real truth?
Reply #166 - Jul 12th, 2011 at 11:18am
 
Want to avoid another Depression? Try understanding the first one.


What excuse do we have when we follow people who, guided by a different economic faith, see the past as they want it to have been, not as it was? Today, under the influence of leaders blinded to facts by certain faith, we are careening toward a repetition of mistakes that led to catastrophe.

A CNN poll conducted in June found that almost half of Americans now think that another Great Depression is “very likely” or “somewhat likely” to occur within the next 12months.

One sensible response is to point out that it is also “very likely” that most of those who stated this view have little conception of what the Great Depression actually was. “Depression” has come to be a term that gets thrown around whenever anyone wants to assert that things are really bad.

And yet, there is a genuine danger that the already weak economy could turn into a second coming of the hard times of the 1930s. The focus of many politicians today on cutting spending and avoiding tax increases on the wealthy is based on a misunderstanding of what led to and extended the Great Depression — and it is setting us up for a new collapse.

Most people realize that a failure to raise the debt ceiling could be catastrophic. But the drastic cuts in federal spending that some Republicans are demanding in exchange for an increase in the debt ceiling would be a repeat of the mistakes that prevented a full recovery in the 1930s and then caused a secondary collapse in 1937. Enacting these cuts is the most likely scenario in which the current recession could become a new depression.

With the economy in a precarious position, slashing spending, concentrating ever more wealth and income at the top, and blocking effective regulation is a prescription for disaster.

Conservatives appear to be united behind a set of beliefs that are dangerously wrong. Theirs is a faith-based economics that contrasts with fact-based economics; their god is named the Market. Their economics is as immune to facts as its opposite, Marxism. Call it Marketism. A devout Marketist believes that the Market is always right and any government intervention is, well, sinful.

Link -
http://www.washingtonpost.com/opinions/want-to-avoid-another-depression-try-unde...
=======================================
In fact, Debt is both a symptom & an effect, with self re-inforcing feedback loops, much like the related problems of CO2, GHG's & Climate Change.

However, the  real primary causes of the current & future Economic malaise are -
1) Short term populist Politics (from both major party's)
2) Demographics (a currently Ageing Population, which is set to go into actual Decline, within 20-30 years - Globally)
3) Peak Energy (Energy scarcity & related Substantial Price rises)
4) Climate Change & related issues.
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Re: What's the Real truth?
Reply #167 - Jul 12th, 2011 at 11:29pm
 
Bolt and Lindzen

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Re: What's the Real truth?
Reply #168 - Jul 12th, 2011 at 11:47pm
 
Professor Richard Lindzen on global warming science

http://trainradio.blogspot.com/2011/07/professor-richard-lindzen-on-global.html
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Re: What's the Real truth?
Reply #169 - Jul 14th, 2011 at 11:25am
 
Moody's Puts US's Aaa Rating On Watch For Possible Downgrade


Moody's Investors Service put its Aaa rating on the U.S. government's bond rating on watch for possible downgrade, citing the "rising possibility that the statutory debt limit will not be raised on a timely basis," which would lead to a default on U.S. Treasury debt obligations.

The ratings agency said in conjunction with Wednesday's action, Moody's placed on review for downgrade its ratings on financial institutions directly linked to the U.S. government, including Fannie Mae (FNMA) and Freddie Mac (FMCC).

Negotiations in Washington have continued as government leaders seek to ensure the country's debt ceiling is increased before an Aug. 2 deadline. Meetings appear to have ground to halt in recent days amid partisan bickering between Democrats and Republicans about how to cobble together a deal that both sides can live with.

Moody's on Wednesday said the ratings action was prompted by the possibility the debt limit will not be raised in time to prevent a missed payment of interest or principal on outstanding bonds and notes. As such, Moody's wrote there is "a small but rising risk of a short-lived default."

Moody's said an actual default, regardless of duration, would fundamentally alter the agency's assessment of the timeliness of future payments, and that the Aaa rating would likely no longer be appropriate. However, because that type of default would likely be short-lived, the rating would most likely be downgraded to somewhere in the Aa range, Moody's said.

If the debt limit is raised again and a default is avoided, the Aaa rating would likely be confirmed. Moody's did note the outlook assigned at that time to the government bond rating would very likely be changed to negative at the conclusion of the review unless "substantial and credible agreement is achieved on a budget that includes long-term deficit reduction."

The warning for a possible downgrade comes after Standard & Poor's Ratings Services in April cut its outlook on U.S. government debt to negative from stable for the first time in history, citing ongoing concerns over the long-term fiscal health of the nation.

Link -
http://online.wsj.com/article/BT-CO-20110713-714624.html
=============================================
There are games, within games, with the US actually already in the similar territory to Japan, the UK & the other Piigs of Europe, IF NOT WORSE!  

The fact that they (the US) have not been downgraded, has more to do with them (the US) still being THE major influence on the Global Economy and that the Ratings Agencies are based in America!

It is likely there are still many more twists & turns, in this modern epic, but the trend is clear and by the end of 2012, the future of the Global Economy should be clear, to almost all!  
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Re: What's the Real truth?
Reply #170 - Jul 14th, 2011 at 11:32am
 
Piigs?

Portugal, Ireland, Greece, Spain.

Who is your other 'i'?
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Anyone who lives within their means suffers from a lack of imagination - Oscar Wilde
 
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Re: What's the Real truth?
Reply #171 - Jul 14th, 2011 at 11:36am
 
Andrei.Hicks wrote on Jul 14th, 2011 at 11:32am:
Piigs?

Portugal, Ireland, Greece, Spain.

Who is your other 'i'?


These Piigs have 2 eyes -
Portugal
Ireland
&
Italy
Greece
Spain

But there's also a little of U in these Piigs, which is the -
UK
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Re: What's the Real truth?
Reply #172 - Jul 14th, 2011 at 11:39am
 
Italy haven't threatened to default on debt or require an EU Rescue Package as far as I know.

In regards to the UK, we are outside the Eurozone so able to set the interest rates at lower than the Euro to garner liquidity.
Plus there are measures being put in place by Cameron - which I agree with - to curtail public sector overspending, reduce down pension liability and to pay back some of the debt that built up as a result of a decade of reckless Labour rule.

This is principally why I voted for him.
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Re: What's the Real truth?
Reply #173 - Jul 14th, 2011 at 11:47am
 


Sooner or later, the Govts of the world will have to admit that under-taxing and under-regulation of the elite and/or incorporated are at the root of the multiple sub-GFCs...

The only way to overcome the almighty mess that the world is in, is to dramatically-reverse the trends of polarisation of income, wealth, opportunity, power (including control over inter/national markets, finite resources and essential public utilities, services and infrastructure) and debt...

I, for one, hope that the world's pollies wake up to themselves, before they allow the uber-wealthy to buy-up sovereign utilities and infrastructure, with the very same ill-gotten gains that led to the current crises of unbridled capitalism...

Sad
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« Last Edit: Jul 14th, 2011 at 11:52am by Equitist »  

Lamenting the shift in the Australian psyche, away from the egalitarian ideal of the fair-go - and the rise of short-sighted pollies, who worship the 'Growth Fairy' and seek to divide and conquer!
 
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Re: What's the Real truth?
Reply #174 - Jul 14th, 2011 at 12:58pm
 
Andrei.Hicks wrote on Jul 14th, 2011 at 11:39am:
Italy haven't threatened to default on debt or require an EU Rescue Package as far as I know.

In regards to the UK, we are outside the Eurozone so able to set the interest rates at lower than the Euro to garner liquidity.
Plus there are measures being put in place by Cameron - which I agree with - to curtail public sector overspending, reduce down pension liability and to pay back some of the debt that built up as a result of a decade of reckless Labour rule.

This is principally why I voted for him.



With Debt at 120% of GDP, Italy doesn't have to threaten anything, that size Debt will be sufficient to push it over the edge, even if they don't jump first.

Won't make any difference!

The Austerity program introduced by the UK Conservatives will only serve to exacerbate the Economic Decline, as Declining disposable income & declining Public confidence, results in lower Consumption.

That plus higher Energy Costs, which will pervade most Products & Services and already high Debt levels, plus the collapse & the US & Europes Piigs, will ensure that the UK will not only not recover, it is also destined for a loonngg Economic Downturn, as will most other countries!  


And, I'm sure that promising "tough Economic policies that worked in the past", is also likely to get Abbott-a-bad elected in Australia and probable get the Republicans up in the USA.

However, this is a completely different paradigm and accross the board AUS-TERITY IS SIMPLY THE WRONG THING, AT THE WRONG TIME, IT WILL MAKE MATTERS WORSE!  
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Re: What's the Real truth?
Reply #175 - Jul 14th, 2011 at 1:07pm
 
Equitist wrote on Jul 14th, 2011 at 11:47am:
Sooner or later, the Govts of the world will have to admit that under-taxing and under-regulation of the elite and/or incorporated are at the root of the multiple sub-GFCs ...

The only way to overcome the almighty mess that the world is in,
 is to dramatically-reverse the trends of polarisation of income, wealth, opportunity, power (including control over inter/national markets, finite resources and essential public utilities, services and infrastructure) and debt...

I, for one, hope that the world's pollies wake up to themselves, before they allow the uber-wealthy to buy-up sovereign utilities and infrastructure, with the very same ill-gotten gains that led to the current crises of unbridled capitalism...

Sad


Well, it certainly has not & will not help!

The old Reaganism of wealth filtering down, was never going to happen & never will.

All that's happened, is that greed ensured that Resources were used too quickly and that proper transition plans were never drawn up, let alone put into action, in terms of Resources (in particular Energy) & Population levels/Ageing.

Regrettably, I think we are in this mess, for the long haul, unless there is a cheap & readily available liquid Energy source, which has been extremely well hidden, but is NOW ready to replace Oil.



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Re: What's the Real truth?
Reply #176 - Jul 14th, 2011 at 6:29pm
 
All Ords Chart - Last 5 years

http://au.finance.yahoo.com/echarts?s=^AORD#symbol=^aord;range=5y;compare=;indic...

The All Ords Peaked at 6,760 in October 2007!

Since then, it has nudged up to just over 5,000 on 3 ocassions, in April 2010, in February 2011 and in April 2011.

Can it be that all the stockmarket woes are co-incidental with Labor coming to power in November 2007 or is it all their fault?

The truth is, all of the above & more.

Labor has certainly stuffed up, in a few areas, but Labor has actually maintained a reasonable Economic balance, since it came to power, in what can only be described as astonishing times.
Did Labor lie, you betcha!
Did Kevy lie, you betcha!
Did Gillard lie, you betcha!
Did Honest John lie, you betcha!
Does Abbott-a-bad lie, you betcha!
That's what Politicians have been brought up to do and it's about time it stopped!

That said, there is very little chance that the All Ords will ever see its Peak of 6,760 again, at least in my lifetime.

In the interim, both Labor & Liberal will be punsihed at a series of elections, because the Public will want someone to blame and lets face it, the Pollies are a good target and deserve whats coming!

Good luck & watch the Debt!
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Re: What's the Real truth?
Reply #177 - Jul 14th, 2011 at 9:38pm
 
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Re: What's the Real truth?
Reply #178 - Jul 15th, 2011 at 8:25pm
 
IMF Says US Budget Requires 35% Spending Cuts and 35% Tax Increases


President Obama told the American people we have to "Eat our Peas" as encouragement for the nation to make the painful decisions to address our out-of-control federal deficits. To understand how many peas we would have to eat; a recent IMF report: "Who Will Pay and How?"
determined that under a moderate growth "baseline scenario, a full elimination of the fiscal and generational imbalances would require all taxes to go up and all transfers to be cut immediately and permanently by 35 percent."


Most Americans didn't seem to mind if nobody's taxes got raised or benefits got cut, but with Moody's credit rating agency's announcement that the United States of America is under review for a solvency downgrade, our nation is headed for a crisis and somebody needs to start eating their peas!

Link -
http://www.huffingtonpost.com/chriss-street/imf-says-us-budget-requir_b_897952.h...
==========================
Yes, that right, the IMF says the USA needs a permanent 35% increase in Taxes AND a 35% reduction in Expenditure!


In the mean time, in Australia, there is talk of "hell freezing over", if a new tax of $10 P/week comes into being?

Is there something wrong with the USA? You betcha!

Is there something wrong with Australia? You bethca!
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Reply #179 - Jul 15th, 2011 at 9:24pm
 
perceptions_now wrote on Jul 15th, 2011 at 8:25pm:
IMF Says US Budget Requires 35% Spending Cuts and 35% Tax Increases


President Obama told the American people we have to "Eat our Peas" as encouragement for the nation to make the painful decisions to address our out-of-control federal deficits. To understand how many peas we would have to eat; a recent IMF report: "Who Will Pay and How?"
determined that under a moderate growth "baseline scenario, a full elimination of the fiscal and generational imbalances would require all taxes to go up and all transfers to be cut immediately and permanently by 35 percent."


Most Americans didn't seem to mind if nobody's taxes got raised or benefits got cut, but with Moody's credit rating agency's announcement that the United States of America is under review for a solvency downgrade, our nation is headed for a crisis and somebody needs to start eating their peas!

Link -
http://www.huffingtonpost.com/chriss-street/imf-says-us-budget-requir_b_897952.h...
==========================
Yes, that right, the IMF says the USA needs a permanent 35% increase in Taxes AND a 35% reduction in Expenditure!


In the mean time, in Australia, there is talk of "hell freezing over", if a new tax of $10 P/week comes into being?

Is there something wrong with the USA? You betcha!

Is there something wrong with Australia? You bethca!

Only thing wrong with the US atm is social justice nuts a plenty.
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Re: What's the Real truth?
Reply #180 - Jul 16th, 2011 at 8:07pm
 
Has the Recession Started?


While some Congressman may actually believe that reducing the budget deficit when jobs are scarce and unemployment is high will improve the economy,
every normal person understands this is going to be a short-term hit to the economy.


So the conclusion is that the United States economy is not in recession today but consumers are fearful that it soon will be and indicators of future economic activity are showing a marked economic slowdown in the future.

There is nothing to keep to the U.S. out of recession - in fact, current government actions guarantee a near recession. The expiration of the stimulus program alone will remove 1.5% from GDP growth in 2012 plus there will be further reductions from federal, state and local governments spending reductions.

It's probably going to be much worse. The issue missing from all the discussions I've seen is the multiplier factor. If the Keynesian stimulus multiplier exists, it is highest during times of debt deflation, excess capacity and high unemployment and it works both ways as we have seen in the Iceland versus Greece and Ireland experience. We may not see just a 1.5% decrease from the end of stimulus but more likely a 2.75% reduction which is almost certain to plunge us into a severe recession.

Most politicians appear unaware of the economics of balance sheet recessions such as the long established "paradox of thrift" visible in Ireland's and Greece's economies, much less the newer "paradox of toil" where increased potential output reduces actual output, and the “paradox of flexibility” where a greater willingness of workers to accept wage cuts actually increases unemployment. The names are new but the effects were known during the Great Depression. So I'll will close with a newsreel that explained this in 1934 for those of you who don't have the math and/or the time needed to check the actual model.

Link -
http://seekingalpha.com/article/279738-has-the-recession-started
====================
The truth is -
1) In fact, the real & underlying factors that are driving events, will ensure the this slowdown will be a Long Term Player, not a short term hit.


2) The reality is that it has only been the enormous stimulus & outright bailouts that have kept the US out of remaining in a technical Recession.

If the cost of those stimulus/bailouts were deducted from the US GDP, which it should be, then the US would never exited the Recession.

What that means, is that the US kicked the can a little further down the road again, but this time the small amount of time respite, has been extremely costly, in terms of Debt and the possibility of kicking the can further down the timeline road, has been removed.

NOW, after some 50-60 years of everyone (including Politicians, TPTB & the Public) avoiding responsibility, the buck stops here!

The time time for the account to be paid, can no longer be put off and the ramifications will be very long & painfull, in the US & Globally!  


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Re: What's the Real truth?
Reply #181 - Jul 19th, 2011 at 8:36am
 
Gold hits US$1,600


...
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Reply #182 - Jul 19th, 2011 at 8:52am
 
Phone hacking whistleblower found dead


One of the first voices to blow the whistle on phone hacking - former News of the World journalist Sean Hoare - has been found dead at his home in Watford, about 40km northwest of London.

Police said the death was being treated as unexplained but was not considered suspicious.


Hoare was quoted by The New York Times saying that phone hacking - listening to the voice mail of celebrities, politicians, other journalists or even murder victims - was widely used and even encouraged at the News of the World under then-editor Andy Coulson.

"Everyone was doing it," Hoare told the US paper. "Everybody got a bit carried away with this power that they had. No one came close to catching us."

Speaking to BBC Radio 4's PM program, he said phone hacking was "endemic" in the newspaper industry.

Hoare's claims were passed to Scotland Yard but they said he declined to give evidence.

The man said he knew the former journalist quite well because Hoare would talk to him about his problems.

He said Hoare was "paranoid" about people seeing him, and he was fearful of the police and the government.

The neighbour said: "He said he was in trouble and he was worried about people coming to get him."

Describing Hoare as a "fantasist", the neighbour said: "A lot of the time we didn’t know what to believe. He did say something about phone hacking. He did mention he was paranoid and that there was a conspiracy."

"The death is currently being treated as unexplained, but not thought to be suspicious. Police investigations into this incident are ongoing."

Link -
http://www.smh.com.au/world/phone-hacking-whistleblower-found-dead-20110719-1hm2...
======================================
Not being a great believer in co-incidences, I would look for this to be FULLY EXPLAINED, before dismissing other possible conclusions, as being the real truth.





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Re: What's the Real truth?
Reply #183 - Jul 19th, 2011 at 9:33am
 
Greenhouse gas theory of global warming is refuted in momentous Mexican lab experiment

http://climaterealists.com/?id=8073

The experiment
http://www.biocab.org/Wood_Experiment_Repeated.html
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Reply #184 - Jul 19th, 2011 at 9:44am
 
New derivation of equations governing the greenhouse effect reveals "runaway warming" impossible

http://www.dailytech.com/Researcher%20Basic%20Greenhouse%20Equations%20Totally%2...
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Re: What's the Real truth?
Reply #185 - Jul 19th, 2011 at 8:53pm
 
The Bill Uncle Sam Can’t Pay


Want to hear something really scary? Even if the government could come up with $4 trillion in savings for just one year… it wouldn’t be enough to cover all the obligations Uncle Sam is taking on in one year.

Here we pause to introduce a term you may or may not be familiar with: generally accepted accounting principles, or GAAP.

GAAP is what companies use to keep their books. If they don’t, their executives can go to prison.


GAAP is not how the government keeps its books.

If it did, it would have to account for future Social Security and Medicare obligations.


Now… there’s set of books maintained by the U.S. Treasury that does the accounting honestly. You don’t hear much about them. A new one comes out every year a few days before Christmas, when no one’s paying attention.


According to these books, if you take into account all the new Social Security and Medicare obligations that Uncle Sam is incurring this year alone… the deficit would not be $1.65 trillion, but rather…brace yourself…

$5 trillion.


Link -
http://5minforecast.agorafinancial.com/bill-uncle-sam-cant-pay/
=====================================
And these are part of why the IMF said that the USA had to increase Taxes by 35% AND reduce Expenditure by 35% and leave them there!

However, Pensions & increased Health Care costs, arising from an ageing population have been known about for decades, so why has it been left to now, to "all of a sudden discover there is a problem"???

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Re: What's the Real truth?
Reply #186 - Jul 20th, 2011 at 12:07am
 
Climate sceptic Lord Monckton told he's not member of House of Lords


The House of Lords has taken the unprecedented step of publishing a "cease and desist" letter on its website demanding that Lord Christopher Monckton, a prominent climate sceptic and the UK Independence party's head of research, should stop claiming to be a member of the upper house.

The letter, sent by David Beamish, clerk of the parliaments, to Monckton last Friday and now published on the Lords' website, states: "You are not and have never been a member of the House of Lords. Your assertion that you are a member, but without the right to sit or vote, is a contradiction in terms. No one denies that you are, by virtue of your letters patent, a peer. That is an entirely separate issue to membership of the House.

The letter from Beamish to Monckton continues: "I must therefore again ask that you desist from claiming to be a member of the House of Lords, either directly or by implication, and also that you desist from claiming to be a member 'without the right to sit or vote'. I am publishing this letter on the parliamentary website so that anybody who wishes to check whether you are a member of the House of Lords can view this official confirmation that you are not."

Link -
http://www.guardian.co.uk/environment/2011/jul/18/climate-monckton-member-house-...
=================================
Monckton's claims to be a member of the House of Lords, are similar to his claims on Climate Change, they stretch the truth, much the same as Maqqa.
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Re: What's the Real truth?
Reply #187 - Jul 20th, 2011 at 10:03am
 
THE HOCKEY SCHTICK

http://hockeyschtick.blogspot.com/2010/06/rescue-from-climate-saviors.html

Rescue from the Climate Saviors
Is the “Global Climate” really in Danger?

http://www.ke-research.de/downloads/climateSaviors-1-1.pdf


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Reply #188 - Jul 22nd, 2011 at 7:21pm
 
Clowns to the Left, Jokers to the Right


http://ilene.typepad.com/.a/6a010536583aff970b01538ff9556a970b-450wi

As the clock ticks down to the impending August 2 deadline for lifting the debt ceiling, negotiations between the White House and Capitol Hill are growing increasingly tense. Lawmakers and the president attempt to arrive at a compromise that will inevitably satisfy no one.

“But the Democrats cannot agree to the Republicans' absolutist demands, in part because the arithmetic of deficit reduction does not work without tax increases and cuts in defense spending, in part because they passionately believe that with taxes the lowest for 50 years, the US's rich should share in the pain and in part because in any human exchange there is an element of horse-trading.”

Financial economist and historian Dr. Michael Hudson was recently interviewed by Bonnie Faulkner on Guns N Butter. When Ms. Faulkner asked his opinion of where the U.S. economy is headed, Mr. Hudson replied,

       “The economy’s going under because Wall Street and investors realize that it’s a done deal. That Mr. Obama is going to succeed in pushing the economy much further into a depression. We need the depression in order to cut living standards and labor by 30 percent. We need a depression in order just to lower the wages of America and to have an excuse – of course, a depression is going to make the budget deficit even larger and the solution to the depression has already been written up, just like the invasion of Iraq was all written up before 9/11, the solution is going to be that the government is going to sell off its land, whatever is in the public domain.

“The American government is going to look just like Greece and just like Ireland. They’re going to be told, ‘The states can’t pay, there’s no federal revenue to share with Minnesota or Wisconsin or the city of Chicago. They’re going to have to sell off their roads, sell off their streets, sell off their infrastructure, sell off their public utilities, sell off their business. The government will sell whatever it has, the Postal Service, to essentially buyers who will now borrow the money from the banks making a huge new market for banks and investment bankers, in privatizing and cutting up what used to be the public domain and turning it over to the wealthiest 10 percent of the economy. So people realize yes, the class war’s back in business. We’re going into a depression. We’ll buy back all these stocks after they go but meanwhile, the game’s over. Let’s grab what we can and just bail out. And that’s what’s happening now.”

Link -
http://seekingalpha.com/article/280224-clowns-to-the-left-jokers-to-the-right-we...
=============================================
Great cartoon!

As I have said previously, I am of the opinion that there will be a last minute deal to avert the immediate Debt ceiling issue, but that will not, in fact can not avert the final outcomes, which should become apparent to almost all, by the end of 2012!
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Re: What's the Real truth?
Reply #189 - Jul 22nd, 2011 at 9:03pm
 
Is Peak Coal Real?
Report Says Yes, and It'll Happen This Year


It was once thought there remained 250 years of coal reserves. We were told there was no need to worry about supply during our lifetimes, and that coal prices would remain cheap...

That's no longer the case. Like oil, the easy-to-reach coal is dwindling by the day. And like oil, as global supplies fall, demand will spike.


Global demand is exploding. In China and India, electricity demand is up 14% and 8%, respectively; European coal generation jumped some 13% over the last year following Japan's nuclear nightmare, all of which helped drive Peabody's strong Q2 earnings growth and guidance.

While global supplies continue to fall, demand is expected to spike even more...

China was using 3.25 billion tons of coal last year, up 5.9% year over year, and that figure is likely to increase by 4.24% a year from 2011 to 2015. Coal consumption in India is expected to run another 20% higher over the same period.

Plus demand from emerging markets — especially for metallurgical coal needed for steel — is exploding. Global steel demand is expected to run another 6.5% to 7% this year on strong growth in developing countries.

And yet, in these early stages of coal's supercycle, not everyone is enthused about coal mining stocks...

As Tadeusz Patek and Greg Croft explain in Energy, the seven billion tons of coal "the world is now mining and burning each year is about the best it can do." The pair predicts coal will peak not because supplies are running out, but "because remaining deposits are increasingly difficult to find."

Link -
http://www.energyandcapital.com/articles/is-peak-coal-real/1661
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Re: What's the Real truth?
Reply #190 - Jul 23rd, 2011 at 3:30pm
 
A Default By Any Other Name


We won’t belabor the point. Greece can’t solve a problem of too much debt by taking on even more. We will note, however, that by some measures, the United States is even more deeply in hock than Greece.

Greece’s debt-to-GDP ratio is 143%. America’s is officially 97%. But the $14.3 trillion national debt, stacked up against a $14.7 trillion economy, doesn’t tell the whole story.

   $14.3 trillion: “Official” national debt
   $5 trillion: Amount Uncle Sam is on the hook for Fannie Mae and Freddie Mac
   $62 trillion: Total liabilities and unfunded obligations for Social Security and Medicare

That’s more than $81 trillion… or a debt-to-GDP ratio of 553%.

And that doesn’t count the black box of bailouts.

We know how much the Federal Reserve doled out in emergency loans: $16.1 trillion between Dec. 1, 2007, and July 21, 2010.

We know that because yesterday the Government Accountability Office completed its first-ever audit of the Fed, made possible largely through the persistence of Rep. Ron Paul making that audit, however incomplete, the law.

What we don’t know is how much of that has been paid back. “We have literally injected about $5.3 trillion,” said Dr. Paul last week during his questioning of Fed chief Ben Bernanke, “and I don’t think we got very much for it. The national debt went up $5.1 trillion.”

Bernanke did not challenge those figures.

“To get our overall fiscal gap under control,” writes Boston University professor Laurence Kotlikoff in Bloomberg, “the U.S. must cut spending or raise tax revenue by $20 trillion over the next decade, far more than either the president wants or the House Republicans seek.”

Yep: The latest number we see bruited in Washington this morning is $3 trillion. Whatever the final number — and there will be a last-minute deal; there always is — it will be substantially less than $20 trillion over 10 years. The can will be kicked… as it keeps getting kicked in Greece.

In Greece, professor Savas Robolis at Panteion University in Athens reckons that by 2015, the average Greek employee and pensioner’s standard of living will have fallen 40% compared with 2008.

Even now, Americans are turning to their credit cards to pay for groceries and gas. According to First Data Corp., the volume of gasoline purchases put on credit cards jumped 39% over the last 12 months.

Link -
http://5minforecast.agorafinancial.com/default-by-any-other-name/
=======================================
In fact, the US Debt that currently stands "officially" at 97% is clearly much, much greater than that!

Even if the "unfunded" Social Security and Medicare Liabilities are not included, which they should be, there is still the $5 Trillion in Fannie & Freddy Liabilities (which is still increasing), plus $16 Trillion in "magic mushroom money" generated out of "thin air" by the FED Reserve, instead of via "official" government channels, plus who knows what in "black opps funding".

But, it is the estimated $50-$70 Trillion in Social Security & Health Care costs, which is totally unfunded that is a massive cause for concern, as the first of the Baby Boomer generation became eligible for pensions from January 1st, 2011 and over the next decade these payments will balloon and cause US Deficits & Debt into the stratosphere!

And, all of that whilst grappling with a Peaking Energy Supply, which will cause huge increases in Energy & related costs, plus the ripple effects of Climate Change.

Good luck & watch the Debt!     
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Re: What's the Real truth?
Reply #191 - Jul 25th, 2011 at 4:01pm
 
Threat to Japan’s Food Chain Multiplies as Radiation Spreads


Radiation threats to Japan’s food chain are multiplying as cesium emissions from the crippled Fukushima Dai-Ichi nuclear power plant spread more widely, moving from hay to cattle to beef.

Hay contaminated with as much as 690,000 becquerels a kilogram, compared with a government safety standard of 300 becquerels, has been fed to cattle. Beef with unsafe levels of the radioactive element was detected in four prefectures, the health ministry said July 23.

Agriculture Minister Michihiko Kano has said officials were unaware of the risk that rice farmers might ship tainted hay to cattle growers. That highlights the government’s inability to think ahead and to act, said Mariko Sano, secretary general for Shufuren, a housewives organization in Tokyo.

“The government is so slow to move,” Sano said. “They’ve done little to ensure food safety.”

Prolonged exposure to radiation in the air, ground and food can cause leukemia and other cancers, according to the London- based World Nuclear Association.

A growing concern is that the release of radiation into waters near the Fukushima plant may multiply through the seafood chain.

Levels of cesium-134 in seawater near the Fukushima plant’s No. 3 reactor rose to levels 30 times the allowed safety standards last week, according to tests performed by Tokyo Electric Power Co, national broadcaster NHK reported.
No Testing System


Japan has no centralized system to check for radiation contamination of food. Prefectural authorities in cooperation with local farmers conduct voluntary tests. Products including spinach, mushrooms, bamboo shoots, tea, milk, plums and fish have been found contaminated with cesium and iodine as far as 360 kilometers from Dai-Ichi.

Tokyo Electric said June 14 it found cesium in milk tested near another nuclear reactor site about 210 kilometers from the Fukushima plant.

The government is considering if it’s feasible to test all cattle to prevent shipments of tainted meat to market, according to Yasuo Sasaki, senior press counselor for the agriculture ministry.

Four months after the earthquake and tsunami damage to the Fukushima plant, local governments short of equipment, staff and budget are struggling to test all farm products.

More than 2,600 cattle have been contaminated, Kyodo News reported July 23, after the Miyagi prefectural government said 1,183 cattle at 58 farms were fed the tainted hay before being shipped to meat markets.

Coming after the government banned cattle shipments from Fukushima on July 19, the latest discoveries signal efforts so far haven’t been sufficient to protect Japan’s food chain.

Link -
http://www.bloomberg.com/news/2011-07-24/threat-to-japanese-food-chain-multiplie...
===========================================
The TRUTH is, this is an INDUSTRY that CAN NOT be TRUSTED and they are BACKED by POLITICIANS, who LIE.

AND, believe it or not, whilst many governments are currently backing away from Nuclear power, in THE FUTURE, WE MAY NEED TO GO BACK TO NUCLEAR, as part of the transition AWAY FROM FOSSIL FUELS.
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Re: What's the Real truth?
Reply #192 - Jul 25th, 2011 at 4:19pm
 
Soros Is 75% in Cash


Though he is not one of my favorite people in the industry it isn’t really possible to doubt the investing acumen of George Soros. Over the years many have made a good bit of money in markets by simply mimicking his strategies. The most recent, however, is hardly worthwhile replicating for most investors.

Apparently, George’s flagship Quantum Fund currently has 75% of its assets in cash. Another sign that the even the most heavyweight financial players are unsure of the situation and that August 2011 is beginning to look more and more like August 2008.

Hoarding cash is usually a signal of uncertainty or extremely bearish beliefs. In today's uncertain environment, however, it can be considered a growth strategy and hedging instrument. Presumably Quantum’s cash is spread out over a basket of currencies ready to hop from one to the next if some sort of market shattering event occurs.


Soros has recently viewed his bearish perspective on Europe and is one of an increasing number of insiders claiming that Greece must be sent packing from the monetary union. As we full well know, cataclysmic events can often act like catalysts for markets. Perhaps the great cash hoard is akin to an army stockpiling weapons in expectation of a great battle. Soros has been known to play dead before and I wouldn’t put this seemingly risk averse move beyond being an aggressive strategy in passive clothing.

Link -
http://seekingalpha.com/article/281321-soros-is-75-in-cash?source=email_macro_vi...
=================================
The truth is, the period ahead is fraught with enormous danger and Economically the trend is to the Downside, so good luck & watch the Debt!
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Re: What's the Real truth?
Reply #193 - Jul 25th, 2011 at 6:25pm
 
US rushes to avert disastrous default


THE White House and top lawmakers scrambled to reach a deal to save the world's richest country from a disastrous default on its debt, amid fears that inaction could affect markets around the globe.

With global financial markets on edge, President Barack Obama met at the White House with Democratic Senate Majority Leader Harry Reid and Democratic House Minority Leader Nancy Pelosi to map their way forward in the standoff.

Senator Reid said there was no progress with Republicans because of the rival party's "continued insistence on a short-term raise of the debt ceiling".

He said Democrats were working on a measure to raise the $US14.3 trillion ($A13.25 trillion) US debt ceiling, allowing Washington to pay its bills past an August 2 deadline, while cutting $US2.7 trillion ($A2.5 trillion) in spending over 10 years.

The strategy, detailed by a Democratic official on condition of anonymity, would also achieve President Obama's goal of avoiding another politically painful vote on the issue before he faces re-election in November 2012.

According to The New York Times, President Obama and the Democratic leaders decided at their meeting to hold firm against any short-term agreement that did not raise the debt ceiling beyond next year's presidential elections.

Earlier, House Speaker John Boehner privately urged fellow Republicans to unite behind a new plan to impose steep spending cuts as the price for raising the US debt limit and promised to have more details, two sources said.

Link -
http://www.heraldsun.com.au/news/breaking-news/us-rushes-to-avert-disastrous-def...
==========================================
The above situation is largely repsonsible for today's 70 point decline on the All Ord's -
http://au.finance.yahoo.com/q?s=^AORD

Today's action on the local market was a follow up to the DOW's 40 point drop on Friday and a decline on DOW futures of over 100 points, during much of today's local trading.
http://www.bloomberg.com/markets/stocks/futures/

The TRUTH is that whether the US defaults now or not, it will not change the overall basic position going forward!

The US is effectively Bankrupt and it must make large reductions in its Expediture & large increases its taxes, particularly on the top 10% of income earners & Business.

However, whilst those actions are now necessary, it should never have got this far, as many of the reasons for arriving in this position have been known for a lengthy period of time, with some inputs being in the pipeline for 50-60 years.

That said, the actions that must now be taken will also precipitate adverse knock on effects, in the overall US Economy & the Global Economy, but to not take ALL of those actions could create a more dire set of circumstances?  
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Re: What's the Real truth?
Reply #194 - Jul 25th, 2011 at 6:51pm
 
Who would have thought it would come to this? They made some very bad decisions with the first bailouts, leading to all the subsequent ones. When you really think about it, the consequences will be catastrophic whatever way they go, it's probably irrelevant if they lift the debt ceiling or default, the final outcome will be similar......disastrous for millions.
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andrei said: Great isn't it? Seeing boatloads of what is nothing more than human garbage turn up.....
 
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Re: What's the Real truth?
Reply #195 - Jul 25th, 2011 at 6:53pm
 
First things first....define 'REAL Truth'.....
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Re: What's the Real truth?
Reply #196 - Jul 25th, 2011 at 7:17pm
 
gizmo_2655 wrote on Jul 25th, 2011 at 6:53pm:
First things first....define 'REAL Truth'.....


If you wish to raise points, for &/or against certain scenario's, then please do so, I'd rather not "play games"!
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Re: What's the Real truth?
Reply #197 - Jul 25th, 2011 at 7:42pm
 
perceptions_now wrote on Jun 1st, 2011 at 10:23pm:
 

That said, the truth is that the Global Climate is changing, that change is materially affected by human input, as the majority of world scientists agree...

 


Science is not done by a show of hands.
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The ALP, the progressive party, the party of ideas, the workers' friend, is the only Australian political party to roast four young Australians in roof cavities. SHAME! SHAME! SHAME!
 
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Re: What's the Real truth?
Reply #198 - Jul 25th, 2011 at 8:44pm
 
salad in wrote on Jul 25th, 2011 at 7:42pm:
perceptions_now wrote on Jun 1st, 2011 at 10:23pm:
 

That said, the truth is that the Global Climate is changing, that change is materially affected by human input, as the majority of world scientists agree...

 


Science is not done by a show of hands.


No, science is not a democracy, it does not require a show of hands or a majority, to be either correct or incorrect, but it is usually the majority that hold sway in science, until &/or if, they are shown to be incorrect.

However, in this instance, I agree that the majority's science will be proven correct, in the long run and the question for humanity is -
Do we take whatever mitigating actions are available to us & try to get better outcomes OR do we hope the majority are wrong, which may cost humanity the Earth?  
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Re: What's the Real truth?
Reply #199 - Jul 25th, 2011 at 9:02pm
 
Population issues temper WA economy - Deloitte Access Economics Report


WA'S economic growth will be under intense pressure as a slowing population growth, increased retirement numbers and huge business investment look set to clash, a new report warns.

The quarterly Deloitte Access Economics report, released today, reaffirmed WA as one of the engines – along with Queensland – of the national economy, with almost a quarter of a trillion dollars of investment projects in the state’s pipeline, mainly led by resource operations.

However, the report warns of a volatile period for the state’s economy, as projections for “stellar” economic growth are tempered by a much slower growing population, where migrant numbers have dropped notably since 2009 and baby boomer retirement is about to accelerate sharply.

Deloitte forecasts WA’s total population to grow 2.2 per cent in the 2011 financial year, and for that to dip to 1.9 per cent in 2015-16.

Economic growth is tipped to grow 3.4 per cent in 2010-11 before surging to 6 per cent the following year, and then making its way down to 3.7 per cent in 2015-16.

“So the squeeze on Western Australia’s economy is about to be considerable,” the report says.

Link -
http://www.perthnow.com.au/business/business-old/population-issues-temper-wa-eco...
===============================
Slowing population growth and increased retirement numbers will certainly impact on WA and OZ nationally, but the truth is there will also be the effects of another Global slowdown to contend with, as well!  
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Re: What's the Real truth?
Reply #200 - Jul 25th, 2011 at 10:54pm
 
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Reply #201 - Jul 25th, 2011 at 11:19pm
 
Powerful new physics paper shows how climate modellers treated Earth like a star ignoring night and day temperature differences. Fudged equations exposed.


The Model Atmospheric Greenhouse Effect
http://climaterealists.com/?id=8119
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Re: What's the Real truth?
Reply #202 - Jul 27th, 2011 at 2:23pm
 
Australian dollar hits post-float record high


The Australian dollar has surged to a new record high, after stronger than expected inflation figures raised expectations of a rate hike by the central bank.

The consumer price index (CPI) rose 0.9 per cent in the June quarter, for an annual inflation rate of 3.6 per cent, the Australian Bureau of Statistics (ABS) reported on Wednesday.

The Australian dollar was trading at 109.60 just prior to the data release at 1130 AEST, but quickly rose to a post-float high of 110.62 cents, on speculation the central bank may need to raise the cash rate to keep a lid on inflationary pressures.



The domestic currency reached its previous high, since the currency was floated in December 1983, on May 3 this year of 110.11 US.

Underlying measures of inflation calculated by the ABS grew on average by 0.9 per cent in the quarter for an annual rate of 2.7 per cent.

"The signal for the RBA is crystal clear and if they are in any way competent, they will hike rates at the next meeting (in August)," said Adam Carr, senior economist at ICAP.

"The consequences of them delaying for another six months could be dire in 2012.

"They really need to get a grip and do what is good for the country."


Link -
http://www.businessspectator.com.au/bs.nsf/Article/Australian-dollar-hits-post-f...
===============================
It seems that vested interests are still harping on about increasing interest rates!

Again, I make it clear that inflation is being drive by increasing costs, mainly relevant to Energy Cost increases.

Consumer Demand, which is the usual reason for increasing interest rates to dampen Demand, is actually already slow and slowing further, as those increasing Energy costs bite into disposable income!

In short, any increase in interest rates now or in the short to medium term, would have an adverse effect on the Australian Economy.

The Truth is, the OZ$ is rising, mainly due to the US$ falling.

In my last report on the "Mighty US$" on July 9th, the US$index was at 75.12, it sits at 73.51 today, owing mainly to recent uncertainty on the US Debt limit issue.

However, I do agree with the comment that the RBA really does need to get a grip and do what is good for the country, because things are so finely balanced that A WRONG MOVE BY THE RBA could indeed mean DIRE CONSEQUENCES!  

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Re: What's the Real truth?
Reply #203 - Jul 27th, 2011 at 4:23pm
 
Earth's Climate History: Implications for Tomorrow

Posted on 26 July 2011 by James Hansen (NASA GISS)

The past is the key to the future. Contrary to popular belief, climate models are not the principal basis for assessing human-made climate effects. Our most precise knowledge comes from Earth's paleoclimate, its ancient climate, and how it responded to past changes of climate forcings, including atmospheric composition. Our second essential source of information is provided by global observations today, especially satellite observations, which reveal how the climate system is responding to rapid human-made changes of atmospheric composition, especially atmospheric carbon dioxide (CO2). Models help us interpret past and present climate changes, and, in so far as they succeed in simulating past changes, they provide a tool to help evaluate the impacts of alternative policies that affect climate.

Humans lived in a rather different world during the last ice age, which peaked 20,000 years ago. An ice sheet covered Canada and parts of the United States, including Seattle, Minneapolis and New York City. The ice sheet, more than a mile thick on average, would have towered over today's tallest buildings. Glacial-interglacial climate oscillations were driven by climate forcings much smaller than the human-made forcing due to increasing atmospheric CO2 -- but those weak natural forcings had a long time to operate, which allowed slow climate feedbacks such as melting or growing ice sheets to come into play.

Paleoclimate data yield our best assessment of climate sensitivity, which is the eventual global temperature change in response to a specified climate forcing. A climate forcing is an imposed change of Earth's energy balance, as may be caused, for example, by a change of the sun's brightness or a human-made change of atmospheric CO2. For convenience scientists often consider a standard forcing, doubled atmospheric CO2, because that is a level of forcing that humans will impose this century if fossil fuel use continues unabated.

We show from paleoclimate data that the eventual global warming due to doubled CO2 will be about 3°C (5.4°F) when only so-called fast feedbacks have responded to the forcing. Fast feedbacks are changes of quantities such as atmospheric water vapor and clouds, which change as climate changes, thus amplifying or diminishing climate change. Fast feedbacks come into play as global temperature changes, so their full effect is delayed several centuries by the thermal inertia of the ocean, which slows full climate response. However, about half of the fast-feedback climate response is expected to occur within a few decades. Climate response time is one of the important 'details' that climate models help to elucidate.

...

We also show that slow feedbacks amplify the global response to a climate forcing. The principal slow feedback is the area of Earth covered by ice sheets. It is easy to see why this feedback amplifies the climate change, because reduction of ice sheet size due to warming exposes a darker surface, which absorbs more sunlight, thus causing more warming. However, it is difficult for us to say how long it will take ice sheets to respond to human-made climate forcing because there are no documented past changes of atmospheric CO2 nearly as rapid as the current human-made change.

Ice sheet response to climate change is a problem where satellite observations may help. Also ice sheets models, as they become more realistic and are tested against observed ice sheet changes, may aid our understanding. But first let us obtain broad guidance from climate changes in the 'recent' past: the Pliocene and Pleistocene, the past 5.3 million years.

Figure 1 shows global surface temperature for the past 5.3 million years as inferred from cores of ocean sediments taken all around the global ocean. The last 800,000 years are expanded in the lower half of the figure. Assumptions are required to estimate global surface temperature change from deep ocean changes, but we argue and present evidence that the ocean core record yields a better measure of global mean change than that provided by polar ice cores.

Civilization developed during the Holocene, the interglacial period of the past 10,000 years during which global temperature and sea level have been unusually stable. Figure 1 shows two prior interglacial periods that were warmer than the Holocene: the Eemian (about 130,000 years ago) and the Holsteinian (about 400,000 years ago). In both periods sea level reached heights at least 4-6 meters (13-20 feet) greater than today. In the early Pliocene global temperature was no more than 1-2°C warmer than today, yet sea level was 15-25 meters (50-80 feet) higher.

The paleoclimate record makes it clear that a target to keep human made global warming less than 2°C, as proposed in some international discussions, is not sufficient – it is a prescription for disaster. Assessment of the dangerous level of CO2, and the dangerous level of warming, is made difficult by the inertia of the climate system. The inertia, especially of the ocean and ice sheets, allows us to introduce powerful climate forcings such as atmospheric CO2 with only moderate initial response. But that inertia is not our friend – it means that we are building in changes for future generations that will be difficult, if not impossible, to avoid.
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Re: What's the Real truth?
Reply #204 - Jul 27th, 2011 at 4:42pm
 
Earth's Climate History: Implications for Tomorrow (Cont)

...

Fig. 2. Greenland (a) and Antarctic (b) ice mass changes deduced from gravity field measurements by Velicogna (2009) and best-fits with 5-year and 10-year mass loss doubling times.

One big uncertainty is how fast ice sheets can respond to warming. Our best assessment will probably be from precise measurements of changes in the mass of the Greenland and Antarctic ice sheets, which can be monitored via measurements of Earth's gravitational field by satellites.

Figure 2 shows that both Greenland and Antarctic ice sheets are now losing mass at significant rates, as much as a few hundred cubic kilometers per year. We suggest that mass loss from disintegrating ice sheets probably can be approximated better by exponential mass loss than by linear mass loss. If either ice sheet were to lose mass at a rate with doubling time of 10 years or less, multi-meter sea level rise would occur this century.

The available record (Figure 2) is too brief to provide an indication of the shape of future ice mass loss, but the data will become extremely useful as the record lengthens. Continuation of these satellite measurements should have high priority.

Link -
http://www.skepticalscience.com/news.php?n=903
========================================
The Truth is, we are at OR near the Peak of this particular warming cycle and when that Peak actually occurs, it will most likely mark the start the next Ice Age.

Climatic movements on these scales are often measured in centuries or even thousands of years, but given our (human) input on this ocassion that timescale could be substantially shorter.

If additional human induced warming, does actually quicken the whole process, then the usual warming Peak may arrive sooner and therefore the decent into the next Ice Age may also happen sooner?

So, whilst there are many uncertainties, the Truth is, we are near the Peak!
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Re: What's the Real truth?
Reply #205 - Jul 27th, 2011 at 11:08pm
 
...

It wasn’t CO2: Global sea levels started rising before 1800
http://joannenova.com.au/2011/07/global-sea-levels-started-rising-before-1800-je...
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Re: What's the Real truth?
Reply #206 - Jul 28th, 2011 at 12:13am
 
Markets continue with current jitters, as DOW Down over 100 points, in early trading!

http://au.finance.yahoo.com/q?s=^DJI
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Re: What's the Real truth?
Reply #207 - Jul 29th, 2011 at 8:44am
 
New NASA Data Blow Gaping Hole In Global Warming Alarmism

http://blogs.forbes.com/jamestaylor/2011/07/27/new-nasa-data-blow-gaping-hold-in...

“The satellite observations suggest there is much more energy lost to space during and after warming than the climate models show,” Spencer said in a July 26 University of Alabama press release. “There is a huge discrepancy between the data and the forecasts that is especially big over the oceans.”
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Re: What's the Real truth?
Reply #208 - Jul 29th, 2011 at 8:53am
 

New science papers discrediting greenhouse gas effect fit with findings of top climatologist. Emerging group of skeptics re-ignite debate.

http://climaterealists.com/?id=8138
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Re: What's the Real truth?
Reply #209 - Jul 29th, 2011 at 11:28am
 
progressiveslol wrote on Jul 19th, 2011 at 9:33am:
Greenhouse gas theory of global warming is refuted in momentous Mexican lab experiment


Did you read the experiment? Did you understand what it is saying? I think not...

This in no way refutes the greenhouse effect. What the experiment shows is that an actual greenhouse works by preventing convective heat transfer ie: preventing absorbed heat from escaping. The greenhouse effect on the atmosphere works in a fundamentally different way. Greenhouse gasses absorb outgoing radiative energy and re-emit some of that energy back toward Earth, rather than retaining heat by preventing the movement of air.

So yes, it is relevant for how an actual greenhouse heats up, but it does not refute the greenhouse effect in any way. I don't know how they came to that conclusion unless they either (a) didn't read the document or (b) didn't understand it.

Makes me very skeptical about that 'climaterealists' website. That was an incredibly misleading article that does nothing to lend them credibility.
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Re: What's the Real truth?
Reply #210 - Jul 29th, 2011 at 1:34pm
 
Anyone wondering why the All Ords has taken another turn South this morning?

It could be because the Labor Carbon Tax will decimate the Australian business sector, BUT probably NOT!

Or, it could be because Labor will make up ground in opinion polls and may will the next election, BUT probably NOT!


NO, it's just the usual Aussie share market reaction, to movement in the US markets.

The DOW Futures markets started dropping again, a couple of hours ago and is now DOWn about 100 points and the OZ All Ords dropped about 40 points over the same timeline!

The Truth is, that the OZ markets are still heavily linked to what's happening in the USA and unless an agreement is announced in the US before the end of their Friday trading, in respect of the US Debt limit, then I suspect nerves may get the better of many players, as they bail out, prior to being rxposed this weekend!

So, NO AGREEMENT on the US DEBT LIMIT, may well mean heavy losses on the DOW today, followed in OZ on Monday?  
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Re: What's the Real truth?
Reply #211 - Jul 29th, 2011 at 1:48pm
 
O))) wrote on Jul 29th, 2011 at 11:28am:
progressiveslol wrote on Jul 19th, 2011 at 9:33am:
Greenhouse gas theory of global warming is refuted in momentous Mexican lab experiment


Did you read the experiment? Did you understand what it is saying? I think not...

This in no way refutes the greenhouse effect. What the experiment shows is that an actual greenhouse works by preventing convective heat transfer ie: preventing absorbed heat from escaping. The greenhouse effect on the atmosphere works in a fundamentally different way. Greenhouse gasses absorb outgoing radiative energy and re-emit some of that energy back toward Earth, rather than retaining heat by preventing the movement of air.

So yes, it is relevant for how an actual greenhouse heats up, but it does not refute the greenhouse effect in any way. I don't know how they came to that conclusion unless they either (a) didn't read the document or (b) didn't understand it.

Makes me very skeptical about that 'climaterealists' website. That was an incredibly misleading article that does nothing to lend them credibility.


Anything to say, Proglulz??? Roll Eyes
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Andrei.Hicks wrote on Sep 11th, 2011 at 11:23am:
So tell me, you'd like to see more and more craphouse coloured people in Australia right?&&Yeah good idea moron.&&
 
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Re: What's the Real truth?
Reply #212 - Jul 29th, 2011 at 1:50pm
 
progressiveslol wrote on Jul 27th, 2011 at 11:08pm:


What exactly do you think that proves, proglulz? Go on, please explain...
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Andrei.Hicks wrote on Sep 11th, 2011 at 11:23am:
So tell me, you'd like to see more and more craphouse coloured people in Australia right?&&Yeah good idea moron.&&
 
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Re: What's the Real truth?
Reply #213 - Jul 30th, 2011 at 8:06pm
 
Default fears worsen as US Senate blocks debt-ceiling bill


The Democrat-controlled US Senate has blocked a Republican debt-ceiling bill, just two hours after it was narrowly passed in the House of Representatives.

Congress was earlier warned that it was "playing with fire" and President Barack Obama appealed for a compromise as the Tuesday deadline for a resolution of the debt crisis talks loomed ever closer.

The Senate is now instead debating a Democrat plan to avoid a US government default, a spectre that has created fears of a fresh world recession. The Treasury department says that the US will default on its financial obligations on Tuesday if agreement is not reached on raising the debt ceiling.

Late on Friday night the Republican-controlled House had passed a bill, which would have lifted the borrowing ceiling only temporarily, by just eight votes. Democrats had opposed it as unacceptable and "extremist" - while conservatives influenced by the Tea party argued that it did not go far enough.

John Boehner, the Republican Speaker of the House, gave an impassioned appeal to his colleagues in the House to approve his plan, slamming his fist on the podium several times.

"I stuck my neck out a mile to get an agreement with the president of the United States," he said, referring to failed negotiations with Mr Obama earlier this month

Link -
http://www.telegraph.co.uk/news/worldnews/us-politics/8672196/Default-fears-wors...
=============================================
I would still suggest it's likely that a last minute "solution" will get up?

However, even if that did happen, it would not solve the underlying issues.

But. if miscalculations are made and it doesn't happen, then next week may be very eventful!
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Re: What's the Real truth?
Reply #214 - Jul 30th, 2011 at 10:06pm
 
Default or Not, Beware the Market


In a nutshell: The sharks on Wall St have basically eaten the E-traders alive and they are now starting to feast on each other. As a result, some of the best investors in the world are now hanging up the gloves. George Soros decided to walk away this week. His fund was down around 6% for the year and was only up 2% last year.

They realize that the glory days of 1980-2007 are far behind us now. The smartest guys in the room have basically come to the realization that there really is no sound fundamental strategy for making money on Wall St these days.

The way I see it, at the end of the day Congress will come up with some ridiculous deficit reduction bill that will allow us to continue this madness. It may happen after August 2nd but I believe it's going to get done. Don't be fooled into thinking it won't.

The only way I don't see it happening is because the idiots running the asylum in DC are starting to realize the only way to get something substantial done is to create a crisis like a debt downgrade. This would then give them the political cover to make the painful cuts that are needed to get the ratings agencies off our backs.

I don't see us going down that road. I fully expect a giant can kicking piece of crap bill that solves nothing. I then expect to see the ratings agencies downgrade the US in a matter of months. I suspect it won't be immediate because they are meeting with the S&P clowns on a daily basis.

The bottom line here folks is stay in cash and play small ball. I am extremely hedged here because this thing could swing in a variety of ways.

For the most part I would advise staying out of this mess. There are sharks everywhere and the government is desperate to keep the game going. I expect a large stock rally on any substantial debt agreement. I expect a lesser rally if we pass some BS deficit reduction bill that does nothing (which is what I expect).

If nothing gets done, the market is going to flat out free fall. I still believe we will be lower by the end of the year because we don't fix problems anymore in this world. We only delay them which only makes them worse.

I fully expect this house of cards to eventually come tumbling down. However, I remain convinced that we don't see this until the PIIGS of Europe have been butchered and cooked into pieces of ham and bacon.

Good luck out there.

Link -
http://seekingalpha.com/article/282623-default-or-not-beware-the-market?source=e...
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Re: What's the Real truth?
Reply #215 - Jul 30th, 2011 at 10:25pm
 
Deal or No Deal, Our AAA Rating Is Toast


It’s been a hot summer, and it’s been even hotter in Washington, D.C., where Democrats and Republicans have been burning down the House with a pitched battle over the debt ceiling, the cap that Congress puts on the national debt.

Usually it’s a mundane bit of legislative business barely worthy of C-Span. Congress hikes spending, and then authorizes an increase in the debt ceiling to pay for it. It’s happened 78 times since 1960. But this year it will likely cause the US’s prized AAA credit rating to go up in smoke.

If that doesn’t happen by August 2, President Obama and many others have warned the government won’t be able to meet all its obligations, including interest payments on the debt, military pay, Social Security checks, what have you. If we can’t, it could mean a default by the US government, just like Argentina and Mexico did in days of yore.

I’ll save who I think is primarily responsible for this mess for my political blog, but I will say this: You can kiss the AAA rating of US Treasury debt goodbye.

If a miracle happens, we may be able to forestall it for a while. But without a huge turnaround in Washington’s broken political culture, I don’t think this Congress and president will enact the dramatic changes S&P has strongly suggested are necessary for us to stay in the elite club of AAA-rated sovereigns.

They include Australia, Austria, Canada, Denmark, Finland, France, Germany, the Netherlands, Norway, Singapore, Sweden, Switzerland, and the United Kingdom.


Losing the AAA would probably hurt the economy through higher borrowing costs for the government, corporations, and consumers, especially those who have adjustable-rate debt, and we’d likely see a stock market decline.

It gives me no joy but considerable sadness to reluctantly agree with Barry Knapp, head US-equity strategist at Barclays Capital, that a downgrading of the US’s credit rating is inevitable.

As the great Bob Dylan wrote, you don’t need a weatherman to know which way the wind blows. So long, AAA, it’s been good to know you.

Link -
http://seekingalpha.com/article/282619-deal-or-no-deal-our-aaa-rating-is-toast?s...
==================================
The Truth is, there is no way that either the USA or the UK should still be AAA rated!

That said, it is of interest to note that aside from Australia still being on that short list of AAA rated countries, that the following European countries are also still on that AAA list -
Austria
Denmark
Finland
France
Germany
Netherlands
Norway
Sweden
Switzerland




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Re: What's the Real truth?
Reply #216 - Jul 30th, 2011 at 10:29pm
 
astro_surf wrote on Jul 29th, 2011 at 1:48pm:
Anything to say, Proglulz??? Roll Eyes


Thats a "no" then is it, Progz?  Roll Eyes
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Andrei.Hicks wrote on Sep 11th, 2011 at 11:23am:
So tell me, you'd like to see more and more craphouse coloured people in Australia right?&&Yeah good idea moron.&&
 
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Re: What's the Real truth?
Reply #217 - Jul 30th, 2011 at 10:31pm
 
Great Britain: The Expansionary Austerity Canary in the Economic Coal Mine


When it comes to Expansionary Austerity, the UK has had a full year head start over the US, having implemented a series of cuts advertised to produce fiscal order, which will then produce a robust economy and jobs growth. So, it seems quite logical to look at how that's going in the real economy and, more importantly for investors, how the market perceive the situation.

From a real economy perspective, the most recent data from the St. Louis Fed shows quite clearly that the "cut to grow" philosophy at the heart of Expansionary Austerity has yet to deliver as promised. Half of the indicators tracked (industrial production, real retail sales, real compensation, real private final consumption expenditures, and real gross fixed capital formation) are all headed in the wrong direction (down), with the other half not exactly exuding the robust economy and jobs growth advocated for.


From a markets perspective, as the accompanying chart shows, the picture is fine - for now. If, however, price crosses to the downside and the two key moving averages (50 and 200) head in the same southerly direction, it will be hard for the bulls to draw any conclusion other than a bear market has begun.

Investment Strategy Implications
The conservative government in the UK adopted its version of Expansionary Austerity a year ago. Therefore, investors would be well served to consider it a test case (both economically and in the markets) for what the US may experience. Based on the record thus far and considering the global macro implications that the much larger US economy is likely to have the global economy, the prospects do not look encouraging.

Link -
http://seekingalpha.com/article/282975-great-britain-the-expansionary-austerity-...
=================================
The Truth is, that AUS-terity actually did work, once upon a time, BUT now it is absolutely the wrong thing, at the wrong time!
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Re: What's the Real truth?
Reply #218 - Jul 30th, 2011 at 10:50pm
 
UK consumers frugal, wary of future


LONDON, July 29 (Reuters) - Britons remain reluctant to borrow and consumer confidence fell back in July towards an earlier two-year low, data showed on Friday, fuelling concerns that weak consumer spending will continue to hamper a fragile economic recovery.

The Bank of England said total lending to individuals rose by 0.4 billion pounds last month, compared to a 1.4 billion pound growth in May, as net mortgage lending fell by 0.1 billion pounds, confounding forecasts of a 1 billion pound rise.

Consumer credit increased by 0.4 billion pounds, slightly above economists' expectations.

"We think that this pick-up reflects the strains on consumers' finances rather than their confidence about the future," said Samuel Tombs, economist at Capital Economics.

The GfK NOP consumer confidence index dropped five points to -30, almost matching the two-year low of -31 hit in April, as the one-off boost from the festivities and the extra holiday for Britain's royal wedding faded. Economists had only expected a dip to -27.

MONEY SUPPLY

Retail sales fell at the fastest rate for a year in July, according to a survey published earlier this week by the Confederation of British Industry, and a number of British retailers, including fashion chain Jane Norman and retailer of alcoholic drinks Oddbins, have fallen into administration in recent months.

Britain's economy barely grew between April and June and business surveys have indicated manufacturers are facing a slowdown, banks are keeping credit tight as they repair their balance sheets and consumers are suffering the worst squeeze in income for 30 years on the back of soaring food and fuel prices, higher taxes and slow wage increases.

"Consumer desire to get a tighter grip on their finances ... is the consequence of an uncertain and somewhat worrying longer-term outlook for the economy and jobs, as the major fiscal squeeze increasingly kicks in," said Howard Archer, economist at IHS Global Insight.

On a more positive note, mortgage approvals numbered 48,421 in June, according to the BoE, up from 46,418 in May and the highest number since May 2010.

House prices also nudged up in July, according to mortgage lender Nationwide, although demand for homes remained sluggish.

"We doubt that the rise in the number of mortgage approvals in June marks the start of an upward trend in housing market activity," Tombs said. "The bigger picture is that approvals have barely moved in recent months."

Mortgage approvals are still running at half their long-term average, providing little hope that the housing market will pick up soon and boost the faltering economy.

The BoE's preferred gauge of money supply, M4 excluding intermediate and other financial corporations, fell 0.1 percent on the month after a 0.4 percent rise in May.

"The money supply data reflects concerns about consumer deleveraging. Quantitative easing was designed to boost monetary aggregates growth, and 15 months after the end of it money supply is contracting again," said Peter Dixon, economist at Commerzbank.

Link -
http://www.reuters.com/article/2011/07/29/britain-consumers-idUSL3E7IT2EG2011072...
===========================
As a comparison, both UK & OZ Consumers are wary of spending, both have Energy & Energy related Products hurting Disposable income and the UK actually has a higher inflation rate, which has been above 4% for all of 2011, whereas the OZ headline rate has just peeked above 3% for the first time.
http://www.rateinflation.com/inflation-rate/uk-historical-inflation-rate.php?form=ukir

Interestingly (pun intended), it is Australia where persistent noises are still heard about increasing interest rates, whereas the BOE chairman has made it clear that is not on the cards in the UK.  

The Truth is, any interest rate increase in the UK &/or OZ, in the near term, would have really adcerse outcomes!
 
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Re: What's the Real truth?
Reply #219 - Jul 30th, 2011 at 11:13pm
 
astro_surf wrote on Jul 30th, 2011 at 10:29pm:
astro_surf wrote on Jul 29th, 2011 at 1:48pm:
Anything to say, Proglulz??? Roll Eyes


Thats a "no" then is it, Progz?  Roll Eyes

After your episode this week, get stuffed. I dont answer to you just like you dont answer to me.
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Re: What's the Real truth?
Reply #220 - Aug 2nd, 2011 at 12:18am
 
perceptions_now wrote on Aug 2nd, 2011 at 12:04am:
There is a tussle going on!

US DOW futures were up nearly 200 points, when news was breaking that the Debt limit problem would be overcome.


When the DOW first opened, it was soon up over 130 points, but it has since struggled to maintain that early surge and has dropped away to be down 23, at 12,120 and falling quickly.
http://au.finance.yahoo.com/q?s=^DJI

Looks like another long session ahead?


Looks like something may not be going quite according to plan?

The DOW dropped 135 points in 7 minutes, down to 12,055, before recovering some ground since, to now be at 12,110, down 33.
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Reply #221 - Aug 4th, 2011 at 1:27pm
 
Who Killed Economic Growth?




Not as good a showman as Monckton, but Richard Heinberg has got that FACTS about correct!
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Reply #222 - Aug 5th, 2011 at 8:42am
 
perceptions_now wrote on Aug 4th, 2011 at 11:56pm:
perceptions_now wrote on Aug 2nd, 2011 at 12:04am:
There is a tussle going on!

US DOW futures were up nearly 200 points, when news was breaking that the Debt limit problem would be overcome.


When the DOW first opened, it was soon up over 130 points, but it has since struggled to maintain that early surge and has dropped away to be down 23, at 12,120 and falling quickly.
http://au.finance.yahoo.com/q?s=^DJI

Looks like another long session ahead?


Looks like another long session ahead?

When the DOW first opened, it was already down over 100 points & it's now down 170!


U.S. Stocks Plunge in Biggest Retreat Since 2009


A global rout in equities drove the Standard & Poor’s 500 Index to its worst slump since February 2009, while two-year Treasury yields plunged to a record low amid concern the economy is weakening.

The S&P 500 tumbled 4.8 percent to 1,200.07 at 4 p.m. in New York. It has dropped 11 percent since July 22, the biggest loss over the same amount of time since March 2009.

Concern the global economy may relapse into a recession has driven investors out of stocks and into the relative safety of Treasuries, the Swiss franc and yen and is spurring speculation the Federal Reserve will start another stimulus program. The European Central Bank resumed bond purchases and offered banks more cash to stem the spread of the debt crisis.

‘Gloomy’
“The mood right now is gloomy,” Mike Ryan, the New York- based chief investment strategist at UBS Wealth Management Americas, said in a telephone interview. His firm oversees $774 billion. “The burden of proof is for better data that show the economy is not falling into recession. Tomorrow’s payroll report is crucial. If we see another disappointment, the stock market will have significant downside from here.”

Commerce Department data tomorrow may show U.S. employers added 85,000 jobs in July, according to the median economist estimate in a Bloomberg survey. In June, they added 18,000.


Link -
http://www.bloomberg.com/news/2011-08-04/yen-slumps-after-japan-intervenes-to-cu...
============================================
Well, things weren't looking all that good last night and the DOW had just hit 200 points down, just before I finished for the night.

But, with the DOW down 512 points on the close at 11,384, it is safe to say that the situation deteriorated considerably, with a fall of 4.31% for the days trading, which puts the DOW into negative for this calendar year, having started at 11,578 on January 1st, 2011!

All major European bourses were also down significantly -
FTSE 100 INDEX      5,393.14      -191.37      -3.43%      
CAC 40 INDEX          3,320.35      -134.59      -3.90%      
DAX INDEX               6,414.76      -225.83      -3.40%

And, with the European bourses closes hours before the US and the US continued to fall during those hours, it is safe to say that Europe will fall again, at their next session, unless a significant event intervenes.

It is also safe to say that Australian & Asian bourses will also have signifcant falls today, with Australian SPI200 Futures showing the way, currently down 157 & the Nikkei 225 Futures down 250.        

The OZ$ was also significantly impacted, declining to 1.0454, after starting the day at 1.0769, which is actually perverse, given the US bearing on these adverse Economic outcomes.


Btw, given US Population growth figures, their job figures really need to add around 150,000 per month, to tread water, so anything less is sending the Economy backward!


The Truth is, the jig is up!


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Reply #223 - Aug 5th, 2011 at 9:06am
 
Good video perce. Two things I got from that.

1. No more cheap coal and oil.

2. There is NO recovery.

I'm pretty sure that in the very near future we will drift back toward small self-sufficient communities.

Oh well! at least we'll get to meet the neighbours.

How many tomatoes do you want for that scrawny chook? We will be a healthier and happier crowd. Bring it on!!!!

Time for change!

There is NO recovery.
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andrei said: Great isn't it? Seeing boatloads of what is nothing more than human garbage turn up.....
 
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Reply #224 - Aug 5th, 2011 at 9:07am
 
This is not a good week.

The net book value of A Hicks Inc has taken a considerable whack, I am worth well over $10k less now than I was on monday.

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Reply #225 - Aug 5th, 2011 at 9:09am
 
Andrei.Hicks wrote on Aug 5th, 2011 at 9:07am:
This is not a good week.

The net book value of A Hicks Inc has taken a considerable whack, I am worth well over $10k less now than I was on monday.



Oh no! You should plead your case to a charity.

And you can also thank those wonderful republicans who I see have done it yet again!  Grin
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Reply #226 - Aug 5th, 2011 at 9:11am
 
Andrei.Hicks wrote on Aug 5th, 2011 at 9:07am:
This is not a good week.

The net book value of A Hicks Inc has taken a considerable whack, I am worth well over $10k less now than I was on monday.


Its only just begun, 10 grand is nothing, if that's a considerable hit you cant be worth much.
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Reply #227 - Aug 5th, 2011 at 9:13am
 

It’s not just that man-made emissions don’t control the climate, they don’t even control global CO2 levels.

http://joannenova.com.au/2011/08/blockbuster-planetary-temperature-controls-co2-...
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Reply #228 - Aug 5th, 2011 at 9:15am
 
progressiveslol wrote on Aug 5th, 2011 at 9:13am:
It’s not just that man-made emissions don’t control the climate, they don’t even control global CO2 levels.

http://joannenova.com.au/2011/08/blockbuster-planetary-temperature-controls-co2-...


When someone starts posting the same crap in 3 different threads I think it's a sign of desperation.  Keep going. Grin
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Reply #229 - Aug 5th, 2011 at 9:17am
 
sir prince duke alevine wrote on Aug 5th, 2011 at 9:15am:
progressiveslol wrote on Aug 5th, 2011 at 9:13am:
It’s not just that man-made emissions don’t control the climate, they don’t even control global CO2 levels.

http://joannenova.com.au/2011/08/blockbuster-planetary-temperature-controls-co2-...


When someone starts posting the same crap in 3 different threads I think it's a sign of desperation.  Keep going. Grin

3. Who did that? What losers hey. lol

This thread is an area I put all these sorts of posts so get over yourself.
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Reply #230 - Aug 5th, 2011 at 9:20am
 
progressiveslol wrote on Aug 5th, 2011 at 9:17am:
When someone starts posting the same crap in 3 different threads I think it's a sign of desperation.  Keep going. Grin

3. Who did that? What losers hey. lol

This thread is an area I put all these sorts of posts so get over yourself. [/quote]

Aww, I see the loony has gotten upset once again. Too often these days, progressives. Too often.

Grin
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Re: What's the Real truth?
Reply #231 - Aug 5th, 2011 at 9:22am
 
progressiveslol wrote on Aug 5th, 2011 at 9:17am:
sir prince duke alevine wrote on Aug 5th, 2011 at 9:20am:
When someone starts posting the same crap in 3 different threads I think it's a sign of desperation.  Keep going. Grin

3. Who did that? What losers hey. lol

This thread is an area I put all these sorts of posts so get over yourself.

Quote:
Aww, I see the loony has gotten upset once again. Too often these days, progressives. Too often.

Grin

Ill give you a clue what lol means. It means I am laughing at you, so am very amused, not upset. Newb.
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Reply #232 - Aug 5th, 2011 at 9:26am
 
progressiveslol wrote on Aug 5th, 2011 at 9:22am:
Ill give you a clue what lol means. It means I am laughing at you, so am very amused, not upset. Newb.


Well, just so you know, lol actually means you are laughing out loud. 

Grin  What a nuff.

Then again, I'm not sure why I'm surprised - should be used to this by now considering everything you say is just nonsense.
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Reply #233 - Aug 5th, 2011 at 9:27am
 
sir prince duke alevine wrote on Aug 5th, 2011 at 9:26am:
progressiveslol wrote on Aug 5th, 2011 at 9:22am:
Ill give you a clue what lol means. It means I am laughing at you, so am very amused, not upset. Newb.


Well, just so you know, lol actually means you are laughing out loud.  

Grin  What a nuff.

Then again, I'm not sure why I'm surprised - should be used to this by now considering everything you say is just nonsense.

lol some more. Der newb.
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Reply #234 - Aug 5th, 2011 at 9:29am
 
progressiveslol wrote on Aug 5th, 2011 at 9:27am:
sir prince duke alevine wrote on Aug 5th, 2011 at 9:26am:
progressiveslol wrote on Aug 5th, 2011 at 9:22am:
Ill give you a clue what lol means. It means I am laughing at you, so am very amused, not upset. Newb.


Well, just so you know, lol actually means you are laughing out loud.  

Grin  What a nuff.

Then again, I'm not sure why I'm surprised - should be used to this by now considering everything you say is just nonsense.

lol some more. Der newb.


Grin  This is what happens when you refuse to use real toilets and still prefer to sit on a hole in the ground.   Grin
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Re: What's the Real truth?
Reply #235 - Aug 5th, 2011 at 9:55am
 
skippy. wrote on Aug 5th, 2011 at 9:11am:
Andrei.Hicks wrote on Aug 5th, 2011 at 9:07am:
This is not a good week.

The net book value of A Hicks Inc has taken a considerable whack, I am worth well over $10k less now than I was on monday.


Its only just begun, 10 grand is nothing, if that's a considerable hit you cant be worth much.



If losing $10k in 3 days is nothing to you, then lucky you.
That's 2 months of my mortgage.

I am not sure I can afford too many $10k losses every week....
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Reply #236 - Aug 5th, 2011 at 9:57am
 
Andrei.Hicks wrote on Aug 5th, 2011 at 9:55am:
skippy. wrote on Aug 5th, 2011 at 9:11am:
Andrei.Hicks wrote on Aug 5th, 2011 at 9:07am:
This is not a good week.

The net book value of A Hicks Inc has taken a considerable whack, I am worth well over $10k less now than I was on monday.


Its only just begun, 10 grand is nothing, if that's a considerable hit you cant be worth much.



If losing $10k in 3 days is nothing to you, then lucky you.
That's 2 months of my mortgage.

I am not sure I can afford too many $10k losses every week....

I would suggest you get out of the US stock market. You are going to have massive losses very soon.
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Reply #237 - Aug 5th, 2011 at 9:59am
 
NASA, nothing to worry about.

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Reply #238 - Aug 5th, 2011 at 10:00am
 
progressiveslol wrote on Aug 5th, 2011 at 9:59am:
NASA, nothing to worry about.



Don't forget to post on every other thread too! People may miss it.

Grin
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Re: What's the Real truth?
Reply #239 - Aug 5th, 2011 at 10:01am
 
Andrei.Hicks wrote on Aug 5th, 2011 at 9:55am:
skippy. wrote on Aug 5th, 2011 at 9:11am:
Andrei.Hicks wrote on Aug 5th, 2011 at 9:07am:
This is not a good week.

The net book value of A Hicks Inc has taken a considerable whack, I am worth well over $10k less now than I was on monday.


Its only just begun, 10 grand is nothing, if that's a considerable hit you cant be worth much.



If losing $10k in 3 days is nothing to you, then lucky you.
That's 2 months of my mortgage.

I am not sure I can afford too many $10k losses every week....



It's not a matter of affordability, the growth fairy is DEAD, no more bailouts lol....and I mean lol at the exponential growth fairy pundits.
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andrei said: Great isn't it? Seeing boatloads of what is nothing more than human garbage turn up.....
 
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Reply #240 - Aug 5th, 2011 at 10:03am
 
sir prince duke alevine wrote on Aug 5th, 2011 at 10:00am:
progressiveslol wrote on Aug 5th, 2011 at 9:59am:
NASA, nothing to worry about.



Don't forget to post on every other thread too! People may miss it.

Grin

Oh noes. It is the newb clown stalker.
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Reply #241 - Aug 5th, 2011 at 10:04am
 
progressiveslol wrote on Aug 5th, 2011 at 10:03am:
sir prince duke alevine wrote on Aug 5th, 2011 at 10:00am:
progressiveslol wrote on Aug 5th, 2011 at 9:59am:
NASA, nothing to worry about.



Don't forget to post on every other thread too! People may miss it.

Grin

Oh noes. It is the newb clown stalker.


Nice to see you copy other's expressions.  I never thought I'd see the day a conservative nutjob maniac progressed...
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Reply #242 - Aug 5th, 2011 at 10:09am
 
sir prince duke alevine wrote on Aug 5th, 2011 at 10:04am:
progressiveslol wrote on Aug 5th, 2011 at 10:03am:
sir prince duke alevine wrote on Aug 5th, 2011 at 10:00am:
progressiveslol wrote on Aug 5th, 2011 at 9:59am:
NASA, nothing to worry about.



Don't forget to post on every other thread too! People may miss it.

Grin

Oh noes. It is the newb clown stalker.


Nice to see you copy other's expressions.  I never thought I'd see the day a conservative nutjob maniac progressed...

Can someone point me to where I can get a virtual anti-stalking AVO or something. This clown keeps stalking me and says some pretty stupid stuff. Might possibly be a psycho.

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Reply #243 - Aug 5th, 2011 at 10:14am
 
progressiveslol wrote on Aug 5th, 2011 at 10:09am:
Can someone point me to where I can get a virtual anti-stalking AVO or something. This clown keeps stalking me and says some pretty stupid stuff. Might possibly be a psycho.



And lookie, you even use new media!!  I'm so proud Smiley  Now we just need to get you a toothbrush rather than that old tree twig you keep using still.
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Reply #244 - Aug 5th, 2011 at 10:33am
 
Ex Dame Pansi wrote on Aug 5th, 2011 at 10:01am:
Andrei.Hicks wrote on Aug 5th, 2011 at 9:55am:
skippy. wrote on Aug 5th, 2011 at 9:11am:
Andrei.Hicks wrote on Aug 5th, 2011 at 9:07am:
This is not a good week.

The net book value of A Hicks Inc has taken a considerable whack, I am worth well over $10k less now than I was on monday.


Its only just begun, 10 grand is nothing, if that's a considerable hit you cant be worth much.



If losing $10k in 3 days is nothing to you, then lucky you.
That's 2 months of my mortgage.

I am not sure I can afford too many $10k losses every week....



It's not a matter of affordability, the growth fairy is DEAD, no more bailouts lol....and I mean lol at the exponential growth fairy pundits.



Laughing at the misfortune of others and economic woes of people across the world is not a good look.
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Reply #245 - Aug 5th, 2011 at 10:36am
 
Laughing at the misfortune of others and economic woes of people across the world is not a good look.

   

I bet Andrei wrote that with a straight face. Grin
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Reply #246 - Aug 5th, 2011 at 10:45am
 
Ex Dame Pansi wrote on Aug 5th, 2011 at 10:01am:
Andrei.Hicks wrote on Aug 5th, 2011 at 9:55am:
skippy. wrote on Aug 5th, 2011 at 9:11am:
Andrei.Hicks wrote on Aug 5th, 2011 at 9:07am:
This is not a good week.

The net book value of A Hicks Inc has taken a considerable whack, I am worth well over $10k less now than I was on monday.


Its only just begun, 10 grand is nothing, if that's a considerable hit you cant be worth much.



If losing $10k in 3 days is nothing to you, then lucky you.
That's 2 months of my mortgage.

I am not sure I can afford too many $10k losses every week....



It's not a matter of affordability, the growth fairy is DEAD, no more bailouts lol....and I mean lol at the exponential growth fairy pundits.


All of which goes to prove that the laws of nature DO apply to human Economics!

What goes up, also comes down!


...

The Truth is, this is just a giant bubble, albeit the biggest one in history, including Population levels, Energy Supply & Debt Levels.

Never-the-less it is still a bubble and as such, it will do what bubbles do, it will eventually burst and return to its original levels, over time!

Btw, the All Ords is currently down 179 and if you check out the 5 day chart on Yahoo, you can get the Wile. E Coyote perspective, as the All Ords goes over the cliff?
http://au.finance.yahoo.com/echarts?s=^AORD#symbol=^aord;range=5d;compare=;indic...


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Reply #247 - Aug 5th, 2011 at 11:58am
 
skippy. wrote on Aug 5th, 2011 at 10:36am:
Laughing at the misfortune of others and economic woes of people across the world is not a good look.

   

I bet Andrei wrote that with a straight face. Grin



Sure did.


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Reply #248 - Aug 5th, 2011 at 2:12pm
 
Market loses $54b on recession fears


UPDATE 10.45am: The Australian sharemarket was still down nearly 4 per cent mid-morning after big falls on world markets overnight prompted by fears of another global recession.

By 10.45am, the benchmark S&P/ASX200 index was still down a massive 160.6 points, or 3.8 per cent, at 4119.5 while the broader All Ordinaries index had lost 175.5 points, or 4 per cent, to 4177.4.

The S&P/ASX200 index had been off as much as 4.42 per cent in earlier trade.

No stocks were spared the wrath of panicked investors, with selling across all sectors.

CMC Markets analyst Ben Le Brun said the market was being savaged on fears the US economy was sliding towards recession, while Europe's debt problems were intensifying.

“Everything that's leveraged to the global growth scenario is getting absolutely pummelled,” Mr Le Brun said.

Link -
http://au.news.yahoo.com/thewest/a/-/mp/9978712/market-loses-54b-on-recession-fe...
==================================
This means that since its recent market Peak in April, Australia Shares in the All Ords have lost about $250 Billion, which is roughly equivalent to 20% of the Total Australian annual GDP!  
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Re: What's the Real truth?
Reply #249 - Aug 5th, 2011 at 7:32pm
 
Bottoms rarely look like Thursday’s rout


CHAPEL HILL, N.C. (MarketWatch) — Market declines rarely end with days like Thursday’s 513-point drop for the Dow.

So even if you think that we’re just suffering a mere correction within an ongoing bull market, you still should be prepared for lower prices in coming sessions.

That at least is the conclusion that emerged from my analysis of past bear market bottoms. The days on which those bear markets actually registered their final lows typically were rather uneventful — nothing like what we saw on Thursday.

Consider March 9, 2009, the day of the closing low of the 2007-2009 bear market, arguably the worst one since the Great Depression. Even though there were many days during that bear market that witnessed panic selling, the day of the final low experienced a drop of just 79.89 points.

It was more than three months earlier than then that the Dow Jones Industrial Average DJIA -4.31%   experienced a panic-induced decline that was as bad as Thursday’s. That day was Nov. 20, 2008, the day when — not coincidentally — the CBOE’s Volatility Index VIX +35.41%   spiked to its all-time closing high near 81.

Many traders made the same mistake then that I fear that is being made today: Thinking that panic selling signals a low. They were three-and-a-half months early.

Or consider the Crash of 1987, which is the grandaddy of selling panics in U.S. stock market history. On that day, Oct. 19, the Dow dropped 22.6%. And even though the Dow bounced back impressively over the two trading sessions following that Crash — gaining 5.9% on Oct. 20 and another 10.1% on Oct. 21 — the stock market’s post-Crash low wasn’t registered until Dec. 4, more than six weeks later.

Chances are that the final low of the decline we’re experiencing will not be recognized as such until well after the fact. It’s most unlikely that, on that day itself, so many traders will be doing what they did on Thursday — falling over themselves announcing that the bottom has been seen.

An old Wall Street saying has it that they don’t “ring a bell” at market bottoms. It would appear that this saying contains a lot of wisdom.

Link -
http://www.marketwatch.com/story/bottoms-rarely-look-like-thursdays-rout-2011-08...
=====================================
The Truth is, there is quite a bit more downside, to this slowdown!

If you want some perspective, look at the following Yahoo site and click onto Max under the DOW chart.
http://au.finance.yahoo.com/echarts?s=^DJI#symbol=^DJI;range=my

Then look at the Peak in 1929 and then see how long it took to regain that level - it  was 1954, THAT'S 25 YEARS.

The Peak of the DOW was just over 14,000, it will never regain that level!
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Re: What's the Real truth?
Reply #250 - Aug 6th, 2011 at 12:05pm
 
The supposed reason for the massive 400 point turnaround in the DOW last night was their GOOD Employment/Enemployment result, where the US put on 117,000 jobs and reduced Unemployment from 9.2 to 9.1.

The Truth is, there are 2 significant Demographic factors which should also be taken into consideration when viewing US Empolyment, Unemployment & Economic impact.

Population Growth
The US Population is growing at around 1% annually, which should increase the Employment (or at least employable) pool by 3 million annually or 250,000 per month, which would/should equate to an additional 150,000 real & additional jobs each month, if we use a standard 60% participation rate?

Retirements (Baby Boomers)
Since January 1st this year, the Baby Boomer generation have officially reached retirement age. No doubt there are Boomers who have already been doing so unofficially, but starting on January 1st there are 80 million Boomers who offically started the transition to leaving the workforce.
That means over the next 18 years, there will be around 4.44 million annually or 370,000 per Month, which would/should equate to about 222,000 retirements each month, if we use a standard 60% participation rate?

In a fully functional Economy, those retiring would/should be replaced by others in the workforce and a further 150,000 SHOULD be added to the workforce, via Population Growth, just to tread water. All of which means, the total Employed Pool should expand at a rate of about 150,000 each month or 3.6 million over a 2 year period.

However, as you point out, the total Employed pool has actually Declined by over 700,000 in the last 2 years.

This means that the US Economy has failed by some 4.3 million jobs, over the last 2 years, just to keep up treading water, let alone to actually expand the Economy!

These Demographics will not go away, both Population Growth & Boomer Retirements are likely to remain constant, particularly with Boomer retirements, as the next 10 years will see a larger portion of boomer retirements than the next 10 years, as the largest portion of Boomer births came in the period 1946-1956 and that rate then started to decline.

Now, I've provided all of those facts, to tell you this, THAT IS WHY DEMAND IS FALLING, as huge numbers of Boomers move into a lower Consumption Retirement lifestyle, plus a greater portion of the Total Population also moves into a lower Consumption lifestyle, as they lose jobs altogether or can not gain full time work!

These factors, plus Peak Energy (Oil first), plus the existing massive Debt situation, plus issues relating to Climate Change are flowing to the rest of the US Economy and onto the wider Global Economy, which means, THERE IS NO RECOVERY AND THERE CAN NOT BE ANY RECOVERY!


By way of re-inforcing where the USA is now at, the ratings company Standard & Poors have today downgraded the US rating from AAA, which it has held for some 100 years, to AA+.

http://www.dailyfinance.com/2011/08/05/americas-credit-downgraded-what-you-need-...

In doing so S&P said, "The political brinksmanship of recent months highlights what we see as America's governance and policymaking becoming less stable, less effective, and less predictable than what we previously believed. The statutory debt ceiling and the threat of default have become political bargaining chips in the debate over fiscal policy. Despite this year's wide-ranging debate, in our view, the differences between political parties have proven to be extraordinarily difficult to bridge, and, as we see it, the resulting agreement fell well short of the comprehensive fiscal consolidation program that some proponents had envisaged until quite recently. Republicans and Democrats have only been able to agree to relatively modest savings on discretionary spending while delegating to the Select Committee decisions on more comprehensive measures. It appears that for now, new revenues have dropped down on the menu of policy options. In addition, the plan envisions only minor policy changes on Medicare and little change in other entitlements, the containment of which we and most other independent observers regard as key to long-term fiscal sustainability."

S&P also provided the 2 following graphs, which strongly relate to what's been happening -
...

...

The US government have already said that S&P have got their figures wrong, which is like "the pot calling the kettle black".

Given past experiences with share market crashes, I suspect that there is still some way to go, before reaching a temporary market bottom!
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Re: What's the Real truth?
Reply #251 - Aug 6th, 2011 at 8:32pm
 
Markets brace for more economic pain


THE escalating debt crises in Europe and fears that the US is rapidly sliding back into recession have rocked Australian financial markets, wiping $100 billion off the value of company shares this week and sending the Australian dollar into a tailspin.

The benchmark S&P/ASX200 index closed down 171.1 points to 4105.4, while the broader All Ordinaries index was off 183.2 points, or 4.21 per cent, to 4169.7.

The losses mean the Australian market has fallen in 14 of the past 20 trading sessions.

The Australian dollar was dumped as the currency plunged nearly 2 per cent from $US1.0689 to trade at $US1.0465, the lowest level in four months, amid fears the global economy was slowing, which would also undermine China's economy.

For home owners, the financial markets were betting that the next interest rate move would be down, but it is small comfort at a time when the economy is facing a severe jolt and employment indications are weakening.

ANZ's co-head of Australian economics Ivan Colhoun said the European debt crisis was a major threat to the world economy.

"We are highly alert to the risks of a second GFC," he said.

It is almost four years since the stockmarket peaked -- 1373 days have passed since the peak, an extended rout that eclipses the time it took stockmarkets to recover from the 1987 crash when markets recovered and leaped previous highs within 504 days.


The Reserve Bank surprised the market yesterday as it slashed its growth forecasts for the Australian economy this year from 4.25 per cent to 3.25 per cent.

The RBA also warned that inflation would remain at or above its 2-3 per cent management bracket for two years.

"When there is pneumonia offshore, it is going to have a direct impact on us because of our level of debt and the fact that nearly three-quarters of the debt is held by people living offshore.

"The best way to be positioned at the moment for a nation and for an individual is to have cash in the bank.


Citigroup equity strategist Tony Brennan said investors were most concerned about the state of the world economy.

"People are starting to worry about a global recession," he said. "We had that in 2008 and 2009, but I don't think people are too concerned about things getting to that extent at the moment," he said.

"The markets have come off about 10 to 15 per cent; in the GFC, markets were down 50 per cent."


Link -
http://www.theaustralian.com.au/news/nation/markets-brace-for-more-economic-pain...
==========================================
The Truth is, I suspect that world markets will revisit their GFC Mk1 lows at some point, prior to the end of 2012 and eventually revisit their 1995 positions, to come back to the point where this share market bubble started!
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Re: What's the Real truth?
Reply #252 - Aug 6th, 2011 at 10:46pm
 
Wall Street Has Wild Ride After Jobs Report




Some interesting comments, on the above video report, from a NYSE Share trader, who says (starting) around 27 seconds into the report that "unsubstantiated rumours" that S&P were going to downgrade the market (read US Credit rating) after the close and that was enough to send the market down by 240 points.

He then goes on to say, "that there was then another rumour that the ECB was going to "give" Spain & Italy money" and that moved the market up by 120 points.


What makes these comments more interesting, from the perspective of what will happen on Monday, is that the S&P rumour turned out to be a fact & the ECB rumour of "giving" more money to Italy & Spain, did not turn out to be correct, at least at this point!

All of which suggests some interesting scenario's for Monday and I will keep a close eye on DOW Futures, for some direction points!  
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Re: What's the Real truth?
Reply #253 - Aug 7th, 2011 at 2:16pm
 
Sharemarket set for 'wild ride'


THE Australian sharemarket is expected to suffer another horror day tomorrow after rating agency Standard & Poor's downgraded the US's credit rating and issued a scathing critique of Washington's ability to deal with its economic woes.

Locally, CommSec economists predicted the global uncertainty would cause the Australian sharemarket to fall a further 1 to 2 per cent, after it lost $100 billion last week.
Austock's Michael Heffernan tipped ''another big, extremely volatile week'', but most experts agreed there would be little impact on the economy.


...

http://www.smh.com.au/business/sharemarket-set-for-wild-ride-20110806-1igz5.html
=============================
The Truth is, that Monday will be a down day on the All Ords, but by how much will depend on what happens on the DOW Futures market, on Monday.

The Real test, then comes overnight our time, when the US markets open and that Day/night could turn out to be (or at least feel) very, very long!  


In respect of most experts agreeing there would be little impact on the economy, I recall that the "experts" said there would not be a GFC Mk1.
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Re: What's the Real truth?
Reply #254 - Aug 7th, 2011 at 3:06pm
 
<<Austock's Michael Heffernan tipped ''another big, extremely volatile week'', but most experts agreed there would be little impact on the economy.>>

................................................................................
..

They have to keep saying this so that people don't freak out and have a run on the banks, but anyone with any nous would know that any major drop will have more than a little impact on the economy.
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Re: What's the Real truth?
Reply #255 - Aug 7th, 2011 at 9:53pm
 
A National Debt Of $14 Trillion? Try $211 Trillion


When Standard & Poor's reduced the nation's credit rating from AAA to AA-plus, the United States suffered the first downgrade to its credit rating ever. S&P took this action despite the plan Congress passed this past week to raise the debt limit.

The downgrade, S&P said, "reflects our opinion that the fiscal consolidation plan that Congress and the administration recently agreed to falls short of what, in our view, would be necessary to stabilize the government's medium-term debt dynamics."

It's those medium- and long-term debt problems that also worry economics professor Laurence J. Kotlikoff, who served as a senior economist on President Reagan's Council of Economic Advisers. He says the national debt, which the U.S. Treasury has accounted at about $14 trillion, is just the tip of the iceberg.

"We have all these unofficial debts that are massive compared to the official debt," Kotlikoff tells David Greene, guest host of weekends on All Things Considered. "We're focused just on the official debt, so we're trying to balance the wrong books."

Kotlikoff explains that America's "unofficial" payment obligations — like Social Security, Medicare and Medicaid benefits — jack up the debt figure substantially.

"If you add up all the promises that have been made for spending obligations, including defense expenditures, and you subtract all the taxes that we expect to collect, the difference is $211 trillion. That's the fiscal gap," he says. "That's our true indebtedness."


We don't hear more about this enormous number, Kotlikoff says, because politicians have chosen their language carefully to keep most of the problem off the books.

"Why are these guys thinking about balancing the budget?" he says. "They should try and think about our long-term fiscal problems."

According to Kotlikoff, one of the biggest fiscal problems Congress should focus on is America's obligation to make Social Security payments to future generations of the elderly.

"We've got 78 million baby boomers who are poised to collect, in about 15 to 20 years, about $40,000 per person. Multiply 78 million by $40,000 — you're talking about more than $3 trillion a year just to give to a portion of the population," he says. "That's an enormous bill that's overhanging our heads, and Congress isn't focused on it.
"

"We've consistently done too little too late, looked too short-term, said the future would take care of itself, we'll deal with that tomorrow," he says. "Well, guess what? You can't keep putting off these problems."

To eliminate the fiscal gap, Kotlikoff says, the U.S. would have to have tax increases and spending reductions far beyond what's being negotiated right now in Washington.

"What you have to do is either immediately and permanently raise taxes by about two-thirds, or immediately and permanently cut every dollar of spending by 40 percent forever. The [Congressional Budget Office's] numbers say we have an absolutely enormous problem facing us."


NPR Interview with Laurence J. Kotlikoff, who served as a senior economist on President Ronald Reagan's Council of Economic Advisers and is a professor of economics at Boston University.
http://www.npr.org/player/v2/mediaPlayer.html?action=1&t=1&islist=false&id=13902...

Link -
http://www.npr.org/2011/08/06/139027615/a-national-debt-of-14-trillion-try-211-t...
==============================
The Truth is, the really tricky part part about all of this is that it comes right at the moment when Consumer Demand is hiting the skids, due to massive Debts & the Baby Boomer Bust, as Energy Supply is Peaking, with the Price hikes that follow and at the start of the great Climate Change!


That said, I'm sure if we just wack up the interest rates & go for a
nice big round of AUS-terity cuts, then OZ should be fine???
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Re: What's the Real truth?
Reply #256 - Aug 8th, 2011 at 10:27pm
 
http://www.finviz.com/fut_chart.ashxt=CL&cot=067651;t=YM&p=d1

Nice Crude Oil (WTI) chart, it shows the substantial Price fall since May!

Has anyone yet seen that reflected in a similar Price fall in Petrol?

Any chance of either Labor or the Libs speaking out???
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Re: What's the Real truth?
Reply #257 - Aug 9th, 2011 at 8:57am
 
Ex Dame Pansi wrote on Aug 9th, 2011 at 6:31am:
Another day, another dollar....lost

DOW JONES
-512.76    -4.31
  11383

http://media.news.com.au/aegis/charts/DOWJON_ID_SharePriceChart_Daily.jpg


Well, I'm not sure about "another day another dollar...lost", I initially thought of Clint Eastwoods "a fistful of Dollars" and then settled on another Eastwood classic -
"The Good, the Bad & the Ugly"


We've had the Good, now we're having the Bad and the Ugly is still to come!

Btw, there was a large dip at the end of US DOW trading and the DOW actually finished down by 635 points.
http://au.finance.yahoo.com/echarts?s=^DJI#symbol=^dji;range=1d;compare=;indicat...

In fact, the DOW fell 300 points in the last 40 minutes of trading and DOW Futures are already down, some 80 points in after hours trading contrinuing that trend and the OZ SPI200 is also down 150, which does not bode well for the local market today!.
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Re: What's the Real truth?
Reply #258 - Aug 9th, 2011 at 11:04am
 
Australian All Ords


...

The above chart seems to be a "real time" updater or fairly close to it, providing you reload or refresh the scene.
Courtesy of Etrade.

Regrettably, it is continuing the Clint Eastwood saga of "The Good, the Bad & the Ugly".
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Re: What's the Real truth?
Reply #259 - Aug 9th, 2011 at 9:21pm
 
Who in the world is most in debt?


http://fortunewallstreet.files.wordpress.com/2011/08/most_indebted_countries.jpgw=612&h=679

Link -
http://finance.fortune.cnn.com/2011/08/09/who-in-the-world-is-most-in-debt/?iid=...
=============================================
I would not take these figures as correct, but they do convey an indication of the severity of the situation in both Japan & the USA, in comparison with the Piigs of Europe.

That said, there are other "unfunded debts", such as Baby Boomer Pensions & Health Care costs, which are not included on any of  these fugures.

In the case of the USA, because of the size of the Population & the nature of the beast, those "unfunded Pension & Health costs" are certainly the greatest of any of the above nations and those costs could easily exceed $100 Trillion, over the span of the Boomer retirement years.

Btw, the UK should probably already be on this list, but not to worry, it will be, shortly!
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Re: What's the Real truth?
Reply #260 - Aug 10th, 2011 at 9:00am
 
The Rollercoaster Ride of a Lifetime Continues


http://chart.finance.yahoo.com/ts=%5eDJI&lang=en-AU&region=AU&width=300&height=180
Interactive Version -
http://au.finance.yahoo.com/echarts?s=^DJI#symbol=^dji;range=1d;compare=;indicat...

The DOW starts the day by rising 131 points, then drops back 131 to be even at 10.811 for the day and it's only 9.45, 15 minutes into the session.

It then increases again, to be at 11,027, up 217 points and it's still only 10.07, 67 minutes into the day.

After just over 3 hours into the session at 12.38, it's still at 11,039, but it then  starts a steady decline for the next 80 minutes to recede to 10,889 at 13.55, thus losing 150 points during that period.

Next, it rises to be 10,981 (up102) at 14.19, before then commencing several sharp falls, to be 10,620 at 14.45, thus losing 361 points in the space of 26 minutes.

And finally, the DOW rises, to finish at 16.00 hours on 11,240, up 620 points for the last 75 minutes of the session and up 429 points for the day!

Now, what changed during the day?

Well, what changed was this -
"U.S. stocks jumped the most in more than two years, rebounding from the worst drop since 2008, and 10-year Treasury yields touched a record low as the Federal Reserve vowed to keep interest rates near zero through mid-2013."
"The Fed’s statement represents the biggest effort since November to spark the U.S. economy and revive confidence while stopping short of initiating a third round of large-scale asset purchases."
http://www.bloomberg.com/news/2011-08-09/asian-stocks-drop-as-yen-treasuries-gai...

So, what really changed on the day?
It seems the logical answer is "Nothing"!
What we really have is a "promise" to continue the current policies, which weren't producing any tangible results, anyway!

So, again today, there was a rumour that the FED Reserve will again step in and again, markets have gained.

Well, the Truth is, there are some things that reserve banks, such as the FED can do & some that they can't.

On this ocassion, at this point in proceedings, there is little (if anything) that the FED can actually do that will make any material difference, owing to the trend of the major Economic factors line up against it, such as -
1) Demographics (Baby Boomer Ageing & soon to be, dwindling Global Population)
2) Peak Energy & Related Pricing issues
3) Peak Global Debt
4) Climate Change & Related issues

But hell, I'm open to suggestion!

If anyone can just tell me, What & How can change the basic direction of the main Economic factors and the river they flow in and I will happily pay attention!

Until then, I await the next episode of "SELL ON THE FACT"!
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Re: What's the Real truth?
Reply #261 - Aug 10th, 2011 at 10:47am
 
<<If anyone can just tell me, What & How can change the basic direction of the main Economic factors and the river they flow in and I will happily pay attention! >>
.............................................................

There is no fix. It's the global depression we have to have, then start over, hopefully without fiat money. I wonder if the lesson will be learnt that perpetual growth is a myth.
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Re: What's the Real truth?
Reply #262 - Aug 10th, 2011 at 11:56am
 
Hi perception, hi pansi -  Smiley



Cannot help but wonder after reading a quote by Obama  where he basically said that governments can’t help with job creation?
Clearly he paid no attention to ‘overseas’ developments like our BER, etc.
What do you think if America had adopted the same or similar policies as Rudd and Gillard  by keeping people in work through their different stimulus policies?  I can see what they were trying to achieve and I think it worked ( so far)... was it wrong?

Shouldn't governments  be concentrating on giving the people work  this gets them spending $$ back into business- instead of the other way around.
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Reply #263 - Aug 10th, 2011 at 12:01pm
 
Also, it is LONG overdue for a new economy and it is obvious and staring us in the face that changes to a cleaner technology could be just that.

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Re: What's the Real truth?
Reply #264 - Aug 10th, 2011 at 4:14pm
 
WA Libs push for climate royal commission


West Australian Premier Colin Barnett has rubbished a push within his party for a royal commission to investigate the science on climate change.

A motion calling for a royal commission on climate change headed by a eminent judge will be debated at the Liberal Party's WA conference on the weekend.

But Mr Barnett was strident in his opposition to the motion.

"A royal commission into that? It's not sensible," he told reporters on Tuesday.

"I support more science, more research, not a royal commission."


Federal Liberal MP Dr Dennis Jensen has called consistently for a royal commission saying it would allow an "honest, public debate, free of emotion".

But the state Liberal Party executive on Tuesday told Dr Jensen not to comment on the matter ahead of the conference but has previously said a royal commission was the only way forward in the climate change debate.

He said the standing committee on science had demonstrated that "scientists who make unambiguous statements publicly" are more cautious if false or misleading comments can result in them being found in contempt of court.

"This alone is clear evidence a royal commission into the science of climate change will provide us with answers,
particularly when examining the parts played by the Bureau of Meteorology and the CSIRO," he said.

Although Mr Barnett does not support a royal commission, he said he did not believe the science on climate change was settled.

"I don't think any credible scientist would believe that we know all about climate change, all about atmospheric conditions of the earth," he said.

Mr Barnett said climate change had occurred throughout history and it appeared the earth was currently going through another period.

"As to every cause and effect, I don't think that any serious climate change scientist would suggest that we have all complete knowledge at this stage."


Federal opposition leader Tony Abbott will address the conference on Saturday.

Link -
http://news.smh.com.au/breaking-news-national/wa-libs-push-for-climate-royal-com...
============================================
A few observations -
1) There may well be quite a few judges, who are clearly well qualified to decide on matters of Law, but I would think there would be very few, if any, who were qualified to sit in judgement over issues such as these!
2) I'm sure there are many Liberals who who agree with Climate Change science & plenty who dsiagree, but the current batch of politicians appear to be bent towards the non believer camp.
In particular, the current WA Water minister & the WA Premier appear to be staunchly non believers!

That they are of that opinion is for them to decide, but in the interim Perth Dam levels are still ony at 27.4% of total capacity, as we near the end of this winter and the Perth underground acquifiers that currently supply Perth with some 60% of its annual water needs, is now low & quickly running out.

http://www.ozpolitic.com/yabbfiles/Templates/Forum/brown/bold.gifSo, whatever the beliefs of these or any other Politician, they have a duty of care to all residents, to ensure the future of our water supply!

http://www.watercorporation.com.au/D/dams_storage.cfm

3) Doesn't Barnett sound like Maqqa?
Perhaps their reading from the same playbook?
The Abbott-a-bad Climate Playbook?


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Re: What's the Real truth?
Reply #265 - Aug 14th, 2011 at 2:27pm
 
It often helps to gain a different perception, so perhaps some longer term views may help -

US DOW -
11,269 - 12/08/2011
11,445 - 1 Week ago
12,447 - 1 Month ago (12/07/2011)
10,320 - 1 year ago (12/08/2010)
9,321 - 2 Years ago (10/08/2009)
6,627 - 2 years & 4 months ago (02/03/2009 - The GFC Low point)
11,660 - 3 Years ago (11/08/2008)
14,093 -  4 years ago - nearly (08/10/2007) - The All Time DOW HIGH
http://au.finance.yahoo.com/echarts?s=^DJI#symbol=^dji;range=5y;compare=;indicat...

Australian All Ords -
4,238 - 12/08/2011
4,170 - 1 Week ago
4,563 - 1 Month ago (12/07/2011)
4,422 - 1 year ago (12/08/2010)
4,465 - 2 Years ago (10/08/2009)
3,112 - 2 years & 4 months ago (02/03/2009 - The GFC Low point)
5,039 - 3 Years ago (11/08/2008)
6,760 -  4 years ago - nearly (08/10/2007) - The All Time All Ords HIGH
http://au.finance.yahoo.com/echarts?s=^AORD#symbol=^aord;range=5y;compare=;indic...

The truth is, in the GFC Mk1, we went down like a sack of poo, with shares losing just over 50% of their total value.

"We" then recovered a little and in the case of Australia, it settled (in October 2009) around a third down on its all time high.

In the case of the USA, it continued to rebound until around the end of April 2011, when it reached a post GFC Mk1 high of 12,810, but with wild gyrations since, the DOW now sits at 11,269, although it could just as easily now be under 10,000, IF Thursdays "fortuitous" Unemployment Report had not gone down.  

The US & Australia also had "somewhat" different levels of action after the GFC Mk1, where Australia was actually reasonably well placed, with effectively zero Debt at the start of the GFC, it has escalated that Debt a little over the last 4 years, but it is still currently very well placed, at or around a 15% Debt to GDP ratio.

That said, the USA went heavily into Debt, with a 60% increase over the last 4 years and it now stands at around a 100% Debt to GDP ratio.  
Date              Total Public Debt Outstanding
09/28/2001       $5,807,463,412,200.06
07/31/2007       $8,932,438,299,899.54
09/30/2009       $11,909,829,003,511.75 Bush Jnr Years = 105% increase (13% PA)
07/29/2011       $14,342,369,286,195.61 Obama (so far) = 20% increase (10% PA)
http://www.treasurydirect.gov/NP/BPDLogin?application=np

Both the Bush & Obama records are entirely unacceptable and both were/are highly detrimental to the majority of the US & Global Public!

That said, much of the last couple of years had also been set up by Bush Jnr, although Obama could have changed tact, IF he had the Political willpower, which he did not.  

The Debt situation is now completely out of hand, as you would know being a figures man and the conundrum now is death by more Debt OR death by a collapsing Economy (Global)?

Now, I've told you that, to tell you this.

In my post on Thursday night OZ time, I was pointing out that with the early falls in Europe and the declines in the DOW futures market, in the hours preceding my post, there could be a break downward in the recent up/down gyrations and IF nothing happened to spike the markets again (shortly), then the market could seriously break to the downside.

So, IF the "fortuitous" Unemployment Report out of the USA had not popped up or something equivalent to it, then the market may have broken on the downside, leading to a very nervous Friday and a close for the weekend possible below 10,000 on the DOW. That could easily have happened, but for the intervention of the "fortuitous" Unemployment Report and instead, the DOW finished for the weekend at 11,269?

Fortunately, something did intervene, the above did not eventuate that day and we all continue on to fight another day.    

It could just as easily have happened and I suggest given the major Economic factors in play, it will happen sometime in the not too distant future.  

Whether you or anyone else agrees or disagrees with my observations, is entirely up to each individual, as is what you do or don't do, with the information/thoughts that I supply! (PS - That's my disclaimer)

In the interim, good luck (with your investments) & watch the Debt (the General/National & Global Debt)!
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Re: What's the Real truth?
Reply #266 - Aug 14th, 2011 at 4:25pm
 
Video: Roubini Says Recession Risk Greater Than 50%


Economist Nouriel Roubini says the risk of a global recession is greater than 50 percent, and the next two to three months will reveal the economy’s direction. In an interview with WSJ’s Simon Constable, Roubini also says he’s putting his money in cash. “This is not the time to be in risky assets,” he says.

Embedded Video at -
http://blogs.wsj.com/economics/2011/08/12/video-roubini-says-recession-risk-grea...
==================================
The embedded video is a good length interview with Roubini, who was one of the few leading Economists to forese GFC Mk1 & said so, prior to the event.

In respect of this interview, I would agree with Nouriel Roubini in some areas, but not in others.

He is of the opinion that we are now at a pivotal moment and the Economy could either start to grow or there may be a crash.

In his opinion, there is more than a 50% chance of a US & Global Recession and of another share market collapse of between 30-50%.

Btw, Roubini also clearly indicates that the bulk of US problems emanate from Bush Jnr.
 
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Reply #267 - Aug 17th, 2011 at 1:20pm
 
U.S. Stocks Fall After Germany, France Propose Financial Transaction Tax


U.S. stocks fell, following the biggest three-day rally since 2009, as German and French leaders proposed a financial-transaction tax and rejected selling euro bonds to halt a debt crisis threatening economic growth.

“Europe will continue to be an overhang until they come up with realistic policies,” Peter Jankovskis, who helps manage about $2.6 billion at Oakbrook Investments in Lisle, Illinois, said in a telephone interview. “We’ve already got disappointing economic numbers out of Europe earlier today. Then, you have a program which is not really doing anything to address that.”

European Recovery Weakens
Earlier losses in stocks today followed a report showing European economic growth slowed more than forecast in the second quarter as Germany’s recovery almost ground to a halt amid the worsening debt crisis. Gross domestic product in the 17-nation euro area rose 0.2 percent from the first quarter, the worst performance since the euro region emerged from a recession in late 2009. Economists had forecast growth of 0.3 percent, according to the median of estimates in a Bloomberg News survey.

German Chancellor Angela Merkel and French President Nicolas Sarkozy said they’ll press for closer euro-area economic integration with tougher deficit rules and stricter supervision to stamp out the debt crisis. Merkel and Sarkozy rejected euro bonds and expanding the 440 billion-euro ($633 billion) rescue fund. They also proposed a plan to resubmit a financial- transaction tax, which was rejected in 2010.

‘Euro Council’
They proposed debt limits be written into national law and establishing a “euro council” to be headed by European Union President Herman van Rompuy as part of a planned “economic government” for Europe. While joint euro-region bond sales may come eventually, their introduction now would put the most stable countries of the euro zone in grave danger, Sarkozy said.


Link -
http://www.bloomberg.com/news/2011-08-16/u-s-stock-futures-slide-after-german-ec...
===========================================
There's an old saying comes to mind, "you can lead a horse to water, but you can't make it drink".

I am reminded that Greek Politicians had Goldman Suchs draw up "plans", to make it look like Greece was ok, when it wasn't, which is a bit like the current USA situation!

That said, how is a European Financial Transaction Tax, any different to a Carbon Tax OR raising General Tax Tax rates, particularly Business & high income earners?

The Truth is, they all seek to raise taxes and as part of an answer to Deficits & Debt, both will be required, certainly in the USA & Europe.  
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Re: What's the Real truth?
Reply #268 - Aug 17th, 2011 at 8:12pm
 
Are We Headed for Another Major Slump?


In the most recent Federal Open Committee Meeting, the following was observed by the policymakers:
“Economic growth so far this year has been considerably slower than the committee had expected. Indicators suggest deterioration in overall labor market conditions in recent months, and the unemployment rate has moved up. Household spending has flattened out, investment in non-residential structures is still weak, and the housing sector remains depressed.

The key question here is: Are the policymakers again underestimating the severity of the economic downturn for the second half of 2011?

Consumer confidence at three-decade low
The latest consumer confidence data suggest that confidence among consumers slumped to a three-decade low in August. The Thomson Reuters/University of Michigan preliminary index of consumer sentiment slumped to 54.9 from 63.7 the prior month. Further, the index of consumer expectation for six months from now, which might be a good indicator of consumer spending direction, slumped to 45.7 from 56 in the prior month. Clearly, for an economy primarily driven by consumption, a meaningful drop in consumer confidence is an ominous sign for the foreseeable future.

10- Year Treasury bond yields nearing December 2008 levels
Looking back at the 10-year Treasury yields, the yields reached a low of 2.07% in December 2008. This was period of economic collapse post the Lehmann Brothers crisis. Post that, yields on the 10-year bond have been increasing steadily. However, the yields have again slumped in the last month and are threateningly close to the yields seen in Treasury bonds during the phase of economic collapse.

...

Does this mean we are headed for another sharp downturn? In my opinion, markets are telling me this ahead of any data, which surprises many on the downside. It is really important to note here that the yields have slumped even after the recent downgrade by S&P. Surely, the markets feel that, even after the downgrade, bonds are a safer place.

Withdrawals from stock funds biggest since 2008
Over the weekend, Bloomberg reported that investors pulled out most money from global stock funds since 2008 in the last week. Many might argue that it was primarily because of negative sentiments arising from the downgrade. However, in my opinion, market participants are just discounting the slowdown factor from the global markets.
Further, if the reaction of market participants is such, one can expect some negative surprise in the last few months of 2011. I have to add here that I expect markets to correct further from current levels. Hence, fresh long exposure to equities might not be a great idea.

Conclusion
The last few months of 2011 might be rough for the economy and the equity markets. Further, this might be a short period in which holding some cash would be beneficial than being invested in equities or commodities. The most important thing would be to watch the reaction of the government and Fed if there is any meaningful slowdown or even recession.

Link -
http://seekingalpha.com/article/287409-are-we-headed-for-another-major-slump?sou...
==================================
This author has come to the conclusion that the last few months of 2011, may be rough for the Economy & Shares.

The Truth is, that whilst the author was referring to the USA, I suggest the same will apply Globally, but the downturn is likely to be more sustained!  
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Re: What's the Real truth?
Reply #269 - Aug 23rd, 2011 at 1:53pm
 
21 signs that the new reality for many baby boomers will be to work as wage slaves until they drop dead


All over America tonight, millions of elderly Americans are wondering if their money is going to run out before it is time for them to die. Those that are now past retirement age are not going to be rioting in the streets, but that doesn't mean that large numbers of them are not deeply suffering. There are millions of elderly Americans that are leading lives of "quiet desperation" as they try to get by on meager fixed incomes.

As health care costs soar, millions of elderly Americans find themselves deep in debt and facing huge medical bills that they cannot possibly pay. A lot of older Americans would go back to work if they could, but jobs are scarce and very few companies seem to even want to consider hiring them. Right now caring for all of the Americans that have already retired is turning out to be an overwhelming challenge, and things are about to get a whole lot worse. On January 1st, 2011 the very first Baby Boomers turned 65.  A massive tsunami of retirees is coming, and America is not ready for it.

Sadly, most retirees have not adequately prepared for retirement. For many, the recent economic downturn absolutely devastated their retirement plans. Many were counting on the equity in their homes, but the recent housing crash crushed those dreams. Others had their 401ks shredded by the stock market.

Meanwhile, corporate pension plans all across America are vastly underfunded. Many state and local government pension programs are absolute disasters. The federal government has already begun to pay out significantly more in Social Security benefits than they are taking in, and the years ahead are projected to be downright apocalyptic for the Social Security program.

So needless to say, things do not look good for the Baby Boomers that are now approaching retirement age.

The following are 21 signs that the new reality for many Baby Boomers will be to work as wage slaves until they drop dead....

#1 According to a shocking AARP survey of Baby Boomers that are still in the workforce, 40 percent of them plan to work “until they drop.”

#2 A recent survey of American workers that included all age groups found that 54 percent of them planned to keep working when they retire and 39 percent of them plan to either work past age 70 or never retire at all.

#3 A poll conducted by CESI Debt Solutions found that 56 percent of American retirees still had outstanding debts when they retired.

#4 A recent study by a law professor from the University of Michigan found that Americans that are 55 years of age or older now account for 20 percent of all bankruptcies in the United States.

#5 Between 1991 and 2007 the number of Americans between the ages of 65 and 74 that filed for bankruptcy rose by a staggering 178 percent.

#6 Most of the bankruptcies among the elderly are caused by our deeply corrupt health care system. According to a report published in The American Journal of Medicine, medical bills are a major factor in more than 60 percent of the personal bankruptcies in the United States. Of those bankruptcies that were caused by medical bills, approximately 75 percent of them involved individuals that actually did have health insurance.

#7 The U.S. government now says that the Medicare trust fund will run dry five years faster than they were projecting just last year.

#8 starting on January 1st, 2011 the Baby Boomers began to hit retirement age. From now on, every single day more than 10,000 Baby Boomers will reach the age of 65. That is going to keep happening every single day for the next 19 years.


#9 Over 30 percent of all U.S. investors currently in their sixties have more than 80 percent of their 401k retirement plans invested in equities. So what happens if the stock market crashes again?

#10 All over the United States predatory lenders are coldly and cruelly foreclosing on elderly homeowners. You can read what one lender is doing to a 70-year-old woman and her terminally ill husband right here.

#11 Medical bills are absolutely devastating large number of elderly Americans right now. Many are going to great lengths to try to pay their bills. An elderly woman that lives in the Salem, Oregon area that is fighting terminal bone cancer tried to raise some money for her medical bills by holding a few garage sales on the weekends. However, a neighbor ratted her out, and so now the police are shutting her garage sales down.

#12 Social Security's disability program has already been pushed to the brink of insolvency and wave after wave of new applications continue to pour in.

#13 Approximately 3 out of every 4 Americans start claiming Social Security benefits the moment they are eligible at age 62. Most are doing this out of necessity. However, by claiming Social Security early they get locked in at a much lower amount than if they would have waited.

#14 According to the Congressional Budget Office, the Social Security system paid out more in benefits than it received in payroll taxes in 2010. That was not supposed to happen until at least 2016.  Sadly, in the years ahead these "Social Security deficits" are scheduled to become absolutely nightmarish as hordes of Baby Boomers retire.
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Reply #270 - Aug 23rd, 2011 at 1:53pm
 
21 signs that the new reality for many baby boomers will be to work as wage slaves until they drop dead (Cont)


#15 In 1950, each retiree's Social Security benefit was paid for by 16 U.S. workers. In 2010, each retiree's Social Security benefit was paid for by approximately 3.3 U.S. workers. By 2025, it is projected that there will be approximately two U.S. workers for each retiree. How in the world can the system possibly continue to function properly with numbers like that?

#16 According to a shocking U.S. government report, soaring interest costs on the U.S. national debt plus rapidly escalating spending on entitlement programs such as Social Security and Medicare will absorb approximately 92 cents of every single dollar of federal revenue by the year 2019. That is before a single dollar is spent on anything else.

#17 Most states have huge pension liabilities that are woefully underfunded. For example, pension consultant Girard Miller recently told California's Little Hoover Commission that state and local government bodies in the state of California have $325 billion in combined unfunded pension liabilities. When you break that down, it comes to $22,000 for every single working adult in the state of California.

#18 Robert Novy-Marx of the University of Chicago and Joshua D. Rauh of Northwestern's Kellogg School of Management recently calculated the combined pension liability for all 50 U.S. states. What they found was that the 50 states are collectively facing $5.17 trillion in pension obligations, but they only have $1.94 trillion set aside in state pension funds. That is a difference of 3.2 trillion dollars. So where in the world is all of that extra money going to come from? Most of the states are already completely broke and on the verge of bankruptcy.

#19 According to one recent survey, 36 percent of Americans say that they don't contribute anything at all to retirement savings.

#20 According to another recent survey, 24 percent of all U.S. workers say that they have postponed their planned retirement age at least once during the past year.

#21 Even though prices for necessities such as food and gas have been exploding, those receiving Social Security benefits have not received a cost of living increase for two year in a row. Many elderly Americans that are living on fixed incomes are being squeezed like they have never been squeezed before.

Today you will find a disturbingly large number of elderly Americans flipping burgers or welcoming people to Wal-Mart. But most of them are not doing it because they are bored with retirement. Rather, most of them are working as wage slaves because that is what they have to do in order to survive.

Sadly, there are a whole lot of companies out there that do not want to hire people that are past a certain age. If you are older than 50, there are a lot of jobs that you should just basically forget about applying for.

As the U.S. economy continues to crumble, the way we treat the elderly is probably going to get even worse.

Right now there is tons of bad news about the economy, and another major economic downturn would put even more pressure on federal, state and local government budgets.

The truth is that there is simply no way that we can keep all of the financial promises that we have made to elderly Americans even if the most optimistic projections for our economy play out.

If the worst happens, we are going to see a lot more elderly Americans eating out of trash cans and freezing to death in their own homes.

The United States is facing a retirement crisis of unprecedented magnitude. A comfortable, happy retirement is rapidly going to become a luxury that only the wealthy will enjoy.

For most of the rest of us, our golden years are going to mean a whole lot of pain and suffering. That may not be pleasant to hear, but that is the truth.

Link -
http://www.presstv.ir/usdetail/195234.html
======================================
The Truth is, that the Baby Boomer explosion Peaked in many countries between 1946-1956 and then started to decline, before 1964 was given as the "official" end of the Boomer era.

So, whilst this article refers to 10,000 Boomer retirements per day, that is the average over the full 19 years, whereas in reality the average in the first 10 years is actually higher than 10,000 per day!  


The Truth is, that Pensions & Health Care costs, are set to escalate dramatically over the next 2 decades and along with a decline in demand for many products & services, driven by Boomers who life style has taken a tumble, the outcome is a declining GDP and an increasing Debt to GDP ratio!


Finally, the Truth is that this scenario is not restricted to the USA, it applies to many other countries, including -
Japan
Much of Europe
UK
Korea
Australia
Yes, even China
& many others

In some, the effects will be felt less, whilst in other countries, it will be more pronounced.

So, Good luck & watch the Debt!
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Re: What's the Real truth?
Reply #271 - Aug 23rd, 2011 at 10:04pm
 
Will The Fed Cavalry Ride To The Rescue Again?


...

As the Federal Reserve gathers in Jackson Hole, Wyoming, for its conclave this week, investors around the world are hoping (maybe praying) for Dr. Bernanke and his colleagues to, once again, ride to the rescue of global stock markets.

This past week’s volatility brought back memories of the not so good “good old days” of 2008 as markets struggled with dismal economic reports and the increasing likelihood of a double dip recession.

This week, stock market bulls will have to make a “last stand” from a technical point of view.

...

The economic view remains dark and threatening as this week’s readings brought no let up to the steady stream of negative data.

More shocking yet was the Philadelphia Federal Reserve report which plunged to -30.7 from +3.2 last month which is the lowest reading in this index since March, 2009, at the bottom of the “last recession.”

This is a most troubling number as readings below -20 in this index have always preceded or been accompanied by recession.


Treasury yields responded to the stock market volatility as bonds rose and yields declined to less than 2%, their lowest since the 1950s, while consumer prices continued their climb. So with rising inflation and falling bond yields, the 10 year Treasury is now producing a negative rate of return. Certainly not a good time for people on fixed income or trying to live off their bond yields.

The jobless picture remained glum with 408,000 new unemployment claims, again rising above the all important 400,000 level, while previous home sales declined to from last month’s levels, again missing a widely expected gain.

All the bad news and volatility caused the outflow from domestic stock funds to continue with the week ending August 10th seeing the biggest outflow since October, 2008.

What It All Means for Stock Market and ETF Investors
What it all means is pretty simple; more volatility, more danger and more opportunity for those who can be on the right side of these dynamic markets.

Markets remain oversold and so a dead cat bounce or bear market rally is a real possibility; however, the major trend remains negative and defensive positioning would seem appropriate.

I think that we have already entered a “double dip” recession and that we’ll see more evidence of that going forward as this global slowdown drifts into outright contraction. With U.S. growth already less than 1% for the first half of the year and economic reports continuing to deteriorate, it seems unlikely that there is any other possible outcome. At Wall Street Sector Selector, we remain defensive and expect the current downtrend to continue over the intermediate term.

The Business and Financial News Week Ahead
The big news this week comes on Friday.
Dr. Bernanke will speak at the Federal Reserve Conference in Jackson Hole, Wyoming, and market participants are hoping for a replay of last year’s conference when he laid the groundwork for “QE2.”

Finally, August Consumer sentiment will be released and either add to or minimize the gloom. These three items will be huge movers of the market, and coming on the same day, should provide a lot of fireworks going into an otherwise quiet August weekend.

So will the cavalry once more ride to the rescue?


Link -
http://seekingalpha.com/article/288820-will-the-fed-cavalry-ride-to-the-rescue-a...
=============================================
It seems the market may be looking at yet another bout of buy on the rumour & sell on the fact, as the DOW Futures have been upbeat for most of today?

The Truth is, whatever happens or doesn't happen, in the afterglow of the FED's Jackson Hole meeting, the FED has no real weapons that can  kill off the major Economic factors that are suffocating Global Economic Growth!

In effect, the FED, other Central Banks & Governments, are now impotent!

There is nothing left in their bag of tricks, which can put the Global Economy back on the road of good Economic Health, over the next 10-20 years, all they can hope for, is to influence outcomes, to prevent unmitigated disasters?

The Truth is, the Exponential Economic Growth Fairy is Dead and the remains will soon be buried!
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Re: What's the Real truth?
Reply #272 - Aug 26th, 2011 at 5:47pm
 
Economists Don't See The Recession That Has Already Started


A just released survey of 43 mainstream economists polled this month by the AP pegs the chances of the U.S. falling into recession in the next year at only 26% (one in four). As a group, the economists predict the economy will expand by over 2% in the second half of the year. Other news that appeared with the survey results included an article about how food stamp use in the U.S. is skyrocketing - a highly unlikely occurrence during an economic recovery.

When deciding how much credence should be given to the current recession view of the economics profession, investors should consider how accurately they predicted the Great Recession - the worst one since the 1930s. The recession began in December 2007. That same month a survey of 54 mainstream economist was published by Business Week under the title, "A Slower But Steady Economy" (AP could have used the same title for its current survey). How many of these highly-paid top economists realized that the U.S. was in recession? None, zero, nada, zilch. How many thought that the U.S. was about to experience the worst recession in almost 80 years? None, zero, nada, zilch.

Unless you have reason to believe that establishment economists have been regularly taking handfuls of smart pills in the last three years, it's unlikely that their views are any more accurate today.

Instead of listening to the miss-opinion of mainstream economists constantly being shoveled out by the mainstream media, investors would be wise to look at the hard evidence of what is actually taking place in the economy. Approximately 46 million Americans (15% of the population) are on food stamps. The number has increased by 74% since 2007. One wonders how big the increase would have been without the economic "recovery" that has supposedly taken place. Many of the people who receive food stamps are employed part-time and sometimes full-time in low paying jobs. If so, they are not part of the unemployment statistics and are considered successful examples of the U.S. pulling itself out of recession.

Of course having a large part of the country on food-aid is an expensive proposition. How exactly has the U.S. paid for this? Well, one way is through the approximately $2 trillion in money that the Federal Reserve has printed since 2007. Two trillion dollars of phony money can really juice up an economy. Without it, the GDP would still be in a deep hole from its 2007 levels and the illusion of economic recovery wouldn't exist. If it turns there's no free lunch after all, the U.S. is going to be hit with a very big inflation bill in the future. Don't expect Fed Chair Ben Bernanke to see this coming though. After all, the Fed remained oblivious to the Great Recession long after it had started. Even in the spring of 2008, their meeting notes indicate that they were still hopeful about avoiding the recession that had begun months before.

Investors should expect an ongoing stream of articles in the next several weeks or even months about how the U.S. is not going to experience another recession. The stock market is sending a very different message though and even the fluffed up economic statistics the government produces are likely to look a bit anemic this fall. But don't worry, establishment economists are optimistic as they always are when a recession begins.

Link -
http://seekingalpha.com/article/289200-economists-don-t-see-the-recession-that-h...
=============================================
One should not get too confused by imagining that people such as Politicians, Economists & Central Bankers are there to inform us, about how they see future realities.

The Truth is, that they generally tell us how they would like to see the future, not how they expect it to actually be!  
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Re: What's the Real truth?
Reply #273 - Aug 27th, 2011 at 12:20pm
 
Will Boomers Ruin Stocks for the Rest of Us?


At its most fundamental level, the stock market is merely a measure of supply and demand. So as the biggest and wealthiest part of the U.S. population approaches a situation in which its members will start needing to liquidate their vast investment portfolios in order to cover living expenses, it only makes sense to wonder whether all that extra supply of shares will hurt stock prices for years to come.

A recent study tries to quantify exactly what impact baby boomers will have on the stock market. Although the results are indeed alarming, there's a silver lining for long-term investors -- one that should help keep you from making emotional decisions that could threaten the success of your investing plan over the long run.

Selling out
A report from the Federal Reserve Bank of San Francisco  tried to answer the question of what would happen with stocks as baby boomers begin to retire.
http://www.frbsf.org/publications/economics/letter/2011/el2011-26.html
To do so, it looked at the ratio of middle-aged workers in their 40s to older workers and young retirees in their 60s and compared it with the valuation of the stock market. Interestingly, the research found a strong connection between stock prices and this age ratio.


In particular, during the bull market of the 1980s and 1990s, boomers were in their peak earning and investing years, while a relatively small part of the population was approaching or entering retirement.
The report argues that those trends pushed earnings multiples for stocks up toward their peak around 30 in the late 1990s. Conversely, as boomers aged over the past decade, they gave way to a smaller cohort of middle-aged workers from the so-called baby bust, and as a result, earnings multiples have fallen.

The bad news is that this trend is likely to continue. In fact, the report suggests that P/E multiples could contract further, from their current levels in the mid-teens to as low as 8.4 by 2025.
Even assuming that inflation-adjusted earnings continue to grow at past rates -- an assumption that could prove heroic -- the research suggests a 13% real drop in stock prices, with stocks not returning to their 2010 levels on an inflation-adjusted basis until 2027.

The report does admit that other factors, including foreign investment and prices of competing investments like bonds, could affect these projections. But if you want to invest with demographic trends in mind, the key is to figure out which stocks boomers are most likely to want to hang onto -- and to make sure to get out of the ones that boomers will want to sell first.

Link -
http://www.dailyfinance.com/2011/08/25/will-boomers-ruin-stocks-for-the-rest-of-...
============================================
The Truth is, the Ageing Baby Boomer effect is only one of a group of major Economic influencing factors that are in the process of changing the accepted/standard Economic paradigms.

These major factors include -
1) Demographics (Boomer Ageing & Future actual Population Declines)
2) Peak Energy (Fossil Fuels)
3) Peak Debt
4) Climate Change

Individually, these factors would create adverse Economic outcomes!
Combining, as they currently are, these factors will change our way of life, as we have known it!
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Re: What's the Real truth?
Reply #274 - Aug 28th, 2011 at 11:40am
 
Prospects For U.S. Stocks Grim


The latest thing whipping around the web is research that concludes domestic equity returns are going to stink for many years to come for what amounts to demographic reasons.

I first became aware of demographics' potential to move stocks a little over 20 years ago when I worked at Lehman Brothers. Back then it was put to us as a positive; wealth transference from Boomers' parents to the Boomers going into stocks and then at some point along the way it spun around to concern for what will happen when the Boomers take their money out when they presumably retire.

While I believe in demographic trends this type of look forward for US markets also needs to take in the fundamental picture too. The fundamentals are well worn ground so I'll just say there is a lack of visibility of what will help turn things around other than time, which is not much to build an investment thesis on.

This whole idea will be familiar to long-time readers in terms of prospects for US markets being relatively unattractive. I've probably underestimated the magnitude of the consequence of this but we have been heavy in foreign equities since before this site started.

Quite frankly I think this type of general outcome has been quite obvious for many years and I think it is still quite obvious looking forward. There will of course be big up years along the way but over some reasonable period of time, like maybe five years, the returns will smooth out to a lower average--this has been going on and I am saying I believe it will continue.

This belief has been a big reason for why I have sought out exposure to foreign and to themes for client portfolios. A long running idea here has been that "normal" returns were available in many countries during the previous decade and they will be available in this decade if the conclusions linked to above about the US turn out to be correct. To the extent there is comfort in crowds, much of the industry has been slow to adopt these views for US prospects and where to go to get "normal" returns.

Being wrong about this sort of thing is referred to as career risk but even if the 9% per year linear return is a thing of the past (it never really existed) you can spend the time and take the risk thus giving yourself (or your clients) a better chance at some desired average return. I do not mean to imply this is easy but it is not rocket science either.

Time spent, even if just focusing on what to avoid, will hopefully help some people.

Link -
http://seekingalpha.com/article/290101-prospects-for-u-s-stocks-grim?source=emai...
==========================================
As I have previously said, all markets are Globally connected and in particular, they are still connected to what happens in the USA!

However, what is now ocurring is the result of decades of inappropriate actions or lack of actions, in areas such as -
1) Underfunding of Boomer retirement pensions (Public & Private).
2) A lack of understanding on how Health costs would escalate, as the Boomer generation went into their retirement years.
3) Under regulation, particularly in the financial sector
4) Under Taxing, particularly of Business & the top 10% of income earners.
5) Overspending, by governments in general, but particularly at a Federal level and particularly that spending aimed at bailing out Private Financial institutions who did not derserve to be bailed out, by Public money!
6) How the 10 years prior to the start of the "official" Boomer retirement period and the next 20-30 years after, would be affected by the changing patterns of Demand for all sorts of Products & Services. These patterns have already started to head lower and they must continue to head lower, for many years, as the massive Boomer generation head into a much more frugal period, particularly given what will be a likely & considerable drop in their asset values, of their two main assets, those being Real Estate & Equities!

Finally, whilst measures can still be taken, to prevent the most adverse of outcomes, the Truth is it is regrettably too late for any normal corrective measures.
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Re: What's the Real truth?
Reply #275 - Aug 28th, 2011 at 11:53am
 
Following is chart of projected PE ratio's, which The SanFran Fed has recently published.

...
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Re: What's the Real truth?
Reply #276 - Aug 30th, 2011 at 1:36pm
 
Architects & Engineers - Solving the Mystery of WTC 7 - 9/11Truth.org




The Real Truth, is still out there!
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Re: What's the Real truth?
Reply #277 - Sep 1st, 2011 at 9:42am
 
Aging Baby Boomers May Curb U.S. Expansion


Women and baby boomers entering the American workforce helped to supercharge expansions in 1975 and 1983 by filling an increasing number of jobs and purchasing more goods and services. Now as the share of women with jobs falls and older Americans age into retirement, the shrinking -- or, at best, slowly growing -- workforce will weaken economic activity for the next two decades.

The demographic changes may be the biggest and least- appreciated reason why the two-year recovery has slowed, because the rate of growth for labor and capital is “the most important determinant” of economic expansion, said James Paulsen, chief investment strategist for Wells Capital Management in Minneapolis.

More retirees mean slower household formation, reduced consumer spending and downward pressure on equity prices as retirement cuts people’s purchasing power, according to John Lonski, chief economist at Moody’s Capital Markets Group in New York, and Gus Faucher, director of macroeconomics at Moody’s Analytics Inc. in West Chester, Pennsylvania.

“A weaker labor force does dampen the pace of the rebound,” along with “our expectation for what an expansionary trend is,” said Dean Maki, chief U.S. economist at Barclays Capital Inc. in New York. “We should be lowering our sights on potential GDP compared to when our population was younger.”

Growth ‘Speed Limit’
Anemic gains in the number of new workers has effectively cut the long-term “speed limit for growth” to 2.25 percent, estimates Maki, a former senior economist at the Federal Reserve. That compares with the Fed’s estimated 2.5 percent to 2.8 percent rate for gross domestic product and average growth of 3.2 percent from 1980 to 2000.

Automakers General Motors Co. (GM), Ford Motor Co. (F) and Toyota Motor Corp. (7203), motorcycle maker Harley-Davidson Inc. (HOG) and natural- foods grocer Whole Foods Market Inc. may be hurt by the shift because most retirees will cut spending on big-ticket items and nonessentials, said C. Britt Beemer, chairman of America’s Research Group in Charleston, S.C., a consulting company that studies consumer behavior.

“Older people tend to have lower incomes, their consumption tends to be lower and in that sense, consumer- spending growth would be weaker as well,” said Moody’s Faucher. “There will be fewer people in prime car-buying years,” and “recreational goods and services are a young-adult thing.”

Sell Shares
The aging population also may hold down stock values for the next two decades as boomers sell shares to finance retirement, according to a Federal Reserve Bank of San Francisco research paper released Aug. 22.

“The mentality has shifted to preserving wealth rather than growing wealth, with less-risky portfolio allocations,” said Emily Sanders, president of Sanders Financial Management Inc. in Norcross, Georgia, whose largest group of clients is aged 55-65. A typical 65-year-old may have 50 percent of his portfolio in stocks, which would drop to 30 percent at age 80, she said.

Aging Population
An estimated 72 million people, or 19.3 percent of the population, will be 65 and older by 2030, compared with 40 million, or 13 percent, in 2010, the Census Bureau estimates.

While new college graduates will assume some jobs as retirees leave the workforce, young adults’ share of the population is shrinking. By 2030, there will be 34 million people aged 18 to 24, representing 9.1 percent of the population, down from 9.9 percent in 2010, according to the Census Bureau. The share of people aged 25 to 44 will drop to 25.5 percent from 26.8 percent.

“We are at the threshold of retirement mountain: a huge, huge change in the numbers of people who are reaching the age where they are leaving the labor force,” said Neal Soss, chief economist with Credit Suisse Holdings USA in New York.

While losses from declines in the value of 401k and similar accounts may force some to delay retirement, these delays will be temporary, he said.

Boomers started turning 65 this year, and every day for the next 18 years, about 10,000 more will hit the age that historically has been associated with retirement, according to the Pew Research Center in Washington. Women’s participation in the labor force may decline slightly during the next 40 years to about 57 percent because fewer will have jobs as they grow older, the Bureau of Labor Statistics projects.

Contracting Labor Force
All this means the workforce will expand 0.6 percent annually for the next 40 years, down sharply from 2 percent between 1950 and 1985, according to the bureau. The labor force has contracted 1.1 percent since 2008, mainly because the recession has forced people out of jobs and made it difficult for them to find new employment.

http://www.bloomberg.com/news/2011-08-30/aging-baby-boomers-shrinking-labor-forc...
============================================
Whilst much of this article is correct, it continues a trend where people look at issues in isolation.

In Truth, this Demographic trend is only one of the major trends affecting Global Economics!

The others are -
1) Demographics (A reducing global Population, as boomers die)
2) Peak Energy
3) Massive Global Debt
4) Climate Change
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Re: What's the Real truth?
Reply #278 - Sep 1st, 2011 at 10:43am
 
Thank you for that powerful message..much appreciated. Smiley

I'll put this one on file for our Australia wide letter box drop to Australians being lied to by the corporate owned Liberal Party and TOXIC Tony Abbott. We as Australians who are concerned about the future for our children and our grand children have a moral obligation now to start a powerful Labor anti fear mongering campaign against the big mining owned Liberal Party. We have to awaken the Alan Jones grannies and isolated Australians with no access to the TRUTH apart from vile right wing shock jock radio propagandists!

We have two full years to SHAME this ugly man called Tony Abbott!!  Angry Angry Angry>Sad

It WILL happen! Smiley Smiley Smiley Smiley Smiley Smiley Smiley

Cheers  Wink
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'If everyone demanded peace instead of another television set, then there'd be peace.' &&John Lennon
 
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Re: What's the Real truth?
Reply #279 - Sep 3rd, 2011 at 9:52pm
 
The Mighty US$

Last Report dated 06/08/2011

US$ Index (basket of Currencies):  @ 74.71 (Last Report - 74.52) (2010/06/04 - 87.85)
http://www.goldseek.com/quotes/charts/usdollar/usdollarindex24hour.php

Euro - US$: @ 1.4205 (Last Report - 1.4282) (2010/06/04 - 120.44)
AUD$ - US$: @ 1.0645 (Last Report - 1.0442) (2010/06/04 - 83.17)
AUD$ - GBP: @ 0.6563 (Last Report - 0.6371) (2010/06/04 - 57.04)
AUD$ - EURO:  @ 0.7492 (Last Report - 0.7312) (2010/06/04 - 69.06)
http://www.bloomberg.com/markets/currencies/fxc.html

Gold - @ US$1,884.20 (Last Report - US$1,651.80) (2010/06/04 - $1,207.80)
Oil WTi -  @ US$86.45 (Last Report - US$86.88) (2011/03/19 US$101.01)  (2010/06/04 - $70.22)
BALTIC DRY INDEX (BDIY) - @ 1,740 (Up 58 @ Friday close) (Last Report – 1,268) (2010/06/04 - 3,844)
http://noir.bloomberg.com/apps/quote?ticker=BDIY:IND

DOW @ 11,240 - (Down 253 @ Friday close) (Last Report - 11,445)  (2010/06/04 - 11,444)
ALL ORDS @  4,322 (Down 61 @ Wednesday close) (Last Report - 4,170) (2010/06/04 - 4,840)
SHANGHAI COMPOSITE @  2,528 (Down 28 @ Friday close) (Last Report - 2,626) (2010/06/04 - 2,553)
http://www.bloomberg.com/?b=0

Last 5 years DOW -
http://finance.yahoo.com/echarts?s=%5EDJI#chart3:symbol=

THERE was movement at the FED, for the word had passed around, That the US$ was an old Regret and its value had long since passed away
==================
Well, the VOLATILITY certainly has continued to escalate!


US$ Index
After approaching 89 in June and going under 76 in November, the US$ index finished 2010 at 78.96.
It then rose to 81, before falling again to a low of 75.57.
After hitting a recent low of around 73.50, the US$ has spiked again on recent turmoil, finishing Friday at $74.71
http://futures.tradingcharts.com/chart/US/M

AUD$ - US$
One of the big winners last year was the OZ$, which slid to $0.83 against the US$ in June and has since recovered dramatically to close 2010 at $1.0233.
The OZ$ had range traded, but recent events had seen it drop to around 0.98, before rebounding to its current levels.
The OZ$ closed Friday at 1.0645, after trading recently as high as $1.076 range.
The OZ$ has also picked on the cross rates, against both the GBP & the Euro.


Gold
Gold dipped a little early in the year to around $1,050 in February, but finished the year strongly at $1,421.40.
It has since slipped and threatened to break back under $1,300, before rising again.
Gold has continued its recent charge, up from US$1,541.60 on July 9th, to US$1,651.80 on August 6th and  US$1,884.20 today.

Oil WTi
Having slipped below $70 mid year, Crude Oil recovered to finish 2010 at $91.38.
It since slipped to around $85, before escalating sharply on Middle East tension to rise to around $107 a barrel.
After coming down from US$96.20 on July 9th, to US$86.88 on August 6th, Oil has been up & down, but finished Friday at US$86.45, close to its price at the August report.

The Oil Price will now decline along with the Global Economy, for some time, before recommencing it's rise, due to Supply related problems!

BALTIC DRY INDEX (BDIY)
The Baltic Dry Index finished Friday at 1,740, up somewhat on the previous report. However, I suspect that level will fall again in coming months.

DOW
Share markets after reaching mid year lows, as the DOW went from just under 9800 in July, to finish 2010 at 11,577.
The DOW Declined from 12,657 on July 9th, to 11,445 on August 6th, before hitting a recent low of 10,719 on August 10th, amid some wild recent fluctuations, before finishing down 253 on Friday, at 11,240.
Given the basic Economic factors in play, I suspect the trend is down & we are not yet anywhere close to a bottom.


ALL ORDS
The Australian market rose from just under 4,300 in July to finish 2010 at 4,847.
The All Ords Declined from 4,716 on July 9th, to 4,170 on August 6th, before hitting a recent low of 4057 on August 8th amid some wild swings, before finishing down 61 on Friday, at 4,321.
Following the US & Europe performances on Friday, it is likely that OZ will follow on Monday with another fall!
OZ, as with most other countries will follow the US and I therefore suspect that the All Ords is also no where close to a bottom.


SHANGHAI COMPOSITE
The Shanghai Composite continues to be the Roller Coaster Ride!
The Shanghai Composite finished down 28 on Friday, to close at 2,528.


NOTE: Given the REAL, BASIC ECONOMIC FACTORS involved -
1) Declining Demand, due to Demographics (Baby Boomer Ageing & Job losses) and the Public anticipating a poor Economic future, due to Debt problems in the US & Europe.
2) Peak Energy & related issues.
3) Neither side of the Economic divide (Keynesians Vs Austrians) can magically solve the current Global Economic dilemma's.
4) Bernanke & the FED are Impotent.
5) Obama can not stimulate the US Economy, as US Debt is already far too high, so any possible stimulus measures can only be mild and that is, IF any measures can get past the Republicans & the Tea Party.

I WOULD SUGGEST, THE TRUTH IS, THAT EQUITIES ARE GOING TO TAKE A HAMMERING for quite some time.

Good luck & watch the Debt!  
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Re: What's the Real truth?
Reply #280 - Sep 5th, 2011 at 8:15pm
 
For the record -
1) The Australian All Ords has fallen about 10%, since its late July Peak.
2) The US DOW has fallen about 12%, since its late July Peak.  
3) The UK FTSE has fallen about 13%, since its late July Peak.
and the European Powerhouses ?
4) The French CAC has fallen about 21%, since its late July Peak.
4) The German DAX has fallen about 27%, since its late July Peak.

I hope the rest of Europe are not relying on the French & the Germans, because IF they are, the Truth is they may be sorely disappointed!
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Re: What's the Real truth?
Reply #281 - Sep 7th, 2011 at 1:19pm
 
Yes, the OZ market has bounced today!
...

Following a bounce started in the US last night, where the DOW was down some 270 points,(which was following what happened in Europe the night before), it then turned around to finish the session down by only 101 points and DOW Futures have continued that trend, being up 66 now.

It could be there is an expectation that Obama is going to revive the "Exponential Growth Fairy", which is currently on life support in intensive care, in a speech he is due to make before the US Congress on Thursday?

Regrettably, the reality is that Obama, the FED and all those other "Economic authorities" have been making statements, which is all they can now do.

In Truth, they are now impotent, they  can not revive the "Exponential Growth Fairy", in the face of the Macro factors now influencing Global Economics.

The Truth, bearing in mind the Demographics, Peaking Global Energy Supplies, Peaking Global Debt & Climate Change issues, there is zero chance of the "authorities" reviving Growth and if the Truth were known, I doubt that is their real intention, at least at some of the highest Global levels?
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Re: What's the Real truth?
Reply #282 - Sep 10th, 2011 at 8:32am
 
DOW - 10,992.13  
Down 303.68 (2.69%)

http://chart.finance.yahoo.com/zs=%5eDJI&t=1d&q=l&l=on&z=l&a=v&p=s&lang=en-AU&region=AU

U.S. stocks slammed by Europe’s troubles


U.S. stock indexes dove Friday on heightened worry about Greece’s debt crisis, pushing the dollar to a six-month high against the euro and 10-year yields to a record low.

The distress came along with news that the European Central Bank’s top economist had quit and that Germany was reportedly preparing to safeguard its banks against a possible Greek default.


“The perception is the ECB is not on the same page, that it doesn’t have a clear vision of how to stimulate the economy,” said Brad Sorensen, director of market and sector analysis at Charles Schwab Corp.

Tallying its sixth straight triple-digit move, and its worst day in more than three weeks, The Dow Jones Industrial Average DJIA -2.69%   lost 303.68 points, or 2.7%, to 10,992.13, down 2.2% from the week-ago close.

All of the blue chips’ 30 components lost ground, including McDonald Corp.’s MCD -0.05%   off 4%, after the world’s biggest burger chain reported a less-than-anticipated increase in global sales for August.

Also weighing on the Dow, Bank of America Corp. BAC -0.14%  shares shed 3.1% on a Wall Street Journal report that executives have discussed cutting about 40,000 jobs in an initial restructuring wave.

Link -
http://www.marketwatch.com/story/us-stocks-battered-by-ecb-members-exit-2011-09-...
========================================
The Truth is, Central banks and governments are now pretty much impotent, events are now in self sustaining feedback loops, much like Climate Change.

At some time, in the not too distant future, a tipping point will arrive, possibly Greece OR something else and the equity markets will crash.

That crash will most likely start in Europe or the US, but will flow on to the rest of the world, including China & the developing countries in Asia & elsewhere.

The crash is likely to see something in the order of 30-50% wiped off share values in the short term, but around 50-75%, in the longer term!      
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Re: What's the Real truth?
Reply #283 - Sep 13th, 2011 at 8:54am
 
http://chart.finance.yahoo.com/zs=%5eDJI&t=1d&q=l&l=on&z=l&a=v&p=s&lang=en-AU&region=AU

So, after DOW Futures were down 240 shortly before trading started on the DOW, markets started to rise and within an hour of trading commencing the DOW was even.

However, after the usual ups & downs, the DOW was down about 170 with an hour & a half left of trading when rumours hit the market of the Chinese coming to the rescue of Italy.
http://www.bloomberg.com/news/2011-09-11/u-s-stock-index-futures-decline-amid-co...

And, at the close, the DOW is up by 69.

So, as usual, another bout of slight of hand?

But, at the end of the day, slight of hand is not enough!

Reality eventually catches up and the Greek situation just foesn't magically disappear -
http://www.bloomberg.com/news/2011-09-12/greece-s-risk-of-default-increases-to-9...

That said and whilst Greece is bad enough, there is "No Hiding Place From the Bigger Crisis" -
http://finance.yahoo.com/news/No-Hiding-Place-From-Crisis-cnbc-3512402427.html?x...  

"Carl Weinberg, the chief economist at High Frequency Economics is very worried about Europe. His central forecast is that the debt crisis will lead Europe into a depression that will mean soaring unemployment, deflation and zero interest rates for the foreseeable future.

After months of inaction, Weinberg believes the time to stop a Greek default has now passed. He believes that once it becomes clear that Greece has defaulted, the market will quickly come to the realization that other euro zone members like Portugal, Ireland, Spain and Italy will be allowed to fail as well.

With the so-called PIIGS (Portugal, Ireland, Italy, Greece and Spain) sitting on 3 trillion euros in debt, Weinberg is assuming losses could ultimately hit 50 cents in the euro, leading to a 1.5 trillion euro hit to the financial system.

This will in Weinberg's opinion force banks to stop lending. Governments will then be forced to bail them out, elevating debt-to-GDP ratios for national governments to "horrific levels"

With US and UK banks likely to have big on and off balance sheet exposure, Weinberg warns all they can do is prepare for the worse.

"There is no place to hide from this, at least not in the Euroland. German banks are no safer than Greek ones in this disaster scenario. The myth that bunds are a safe haven from Euroland debt woes will be proven wrong the minute the first German bank announces that it needs public help to recapitalize it," he said."

I'm sure, the sounds of the last can, being kicked down the last road, will still be ringing in the markets ears, as those same markets go into meltdown!
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Re: What's the Real truth?
Reply #284 - Sep 14th, 2011 at 3:24pm
 
Are The U.S. And Europe Headed Down Japan's Road?


In the past two years a lot of analysts have been warning that the US and/or Europe are about to turn “Japanese”. By this I guess they mean that very high levels of debt are going to set the stage for one or two decades of economic stagnation and zero growth.

I am not sure I agree. I think these kinds of comparisons seriously miss the point about what went wrong in Japan in the 1980s. Except at a very superficial levels Japan’s imbalances before 1990 were very different from the imbalances from which Europe and the US suffer today, and the resolutions in each case are likely to be very different.

But we are nonetheless hearing the comparison more and more often.

Believers of the west-is-turning-into-Japan argument point to several similarities. In both cases, large debt burdens mean sluggish growth after a stock market crash. Meanwhile, the political response to the troubles is confused and does little to alleviate the pain. “It is blatantly obvious that those comparisons are valid,” says Jeffrey Gundlach, chief executive of US fund manager DoubleLine. “[We have] over-indebtedness and banks with bad assets that they are not writing down because otherwise they would be insolvent. Instead, you try to grind it out on a multi-year horizon.”

These characteristics, it turns out, are the same characteristics we have seen dozens of times in the past two centuries. In fact they are the fairly normal set of characteristics during any financial crisis, Japanese-style or not. The one exception in Milligan’s list may be “poor demographics”, but that of course depends on what you mean by “poor”. If all you mean is a rapidly aging and declining population, then this characteristic is something pretty new to the history of financial crises, although for that reason it is not clear that it is a vitally important characteristic, and anyway Japan’s demographics are in no way like those of the US, whose population is growing quite quickly and is barely aging (and even Europe is not aging nearly as quickly and is far more open than Japan – at least for now – to immigration).

Link -

http://seekingalpha.com/article/293074-are-the-u-s-and-europe-headed-down-japan-...
=========================================
Whilst there are some similarities between the Japanese situation of the last 20 years, to what is now happening, there are also some differences.

Yes, there is a substantial Ageing Demographic in Japan, which started well before the rest of the world and that situation is now also being reflected in the 80 Million US Baby Boomers, with similar situations in most other countries around the world.

In itself, this Ageing Demographic issue is quite a large drag on the Economy of each country, as has already been demonstrated in Japan.

However, in these times of a Global Economy, Japan was at least supported by virtue that the rest of the Global Economy was still "bubbling" along just fine, at least initially.

That said, as this century began, the same Demographic issue start to creep into other Economies, as more & more Baby Boomers started to move toward their official retirement years.

By 2005 the Boomer Demographic effect was becoming apparent, as Housing fell, because Boomer Demand was reducing in the US.

But, with the Boomer Demographic being worldwide, Demand for many Products & Services is also falling, as the massive Demographic moves into a more stringent retirement mode!

Of course, that also means that the Supply of many Resources, Capital & Labour is also going to fall.

So far, we have only raised the Ageing Demographic factor, which would certainly be a predictor of poor Economic outcomes, as it is unique in history, because of the sheer scale of numbers involved in Boomer retirements over the next 20 years.

However, that is not that only massive, nor unique factor involved, in the current Global Economic dilemmas.

In addition, there is -
1) Peak Global Total Population, where the Population of many countries will actually cease to grow, as it has almost always done and never greater than the last 80 years.
Most countries will actually arrive at a Peak Carrying capacity over the next 20 years or so and those Population levels will then commence to decline, in individual countries, but also Globally.
The Economic effect simply of the reduced growth would be large, but the effects of an actual decline will be massive.
Can't we simply start another Baby Boomer?
The answer is No!
And the reasons are Peak Energy and Peak Resources in general, including Food & Water!
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Re: What's the Real truth?
Reply #285 - Sep 14th, 2011 at 3:25pm
 
Are The U.S. And Europe Headed Down Japan's Road? (Cont)


2) Energy is one of the two major factors that enabled the massive Global Population Growth, from 1 Billion in 1800 to 7 Billion today, the other is Innovation.
In the last 10 years or so, the growth in the Supply Energy resources has started to fall behind the Growth in Population driven Demand.
This has resulted in substantial increases in the Cost of Energy, which is particularly noticeable in Oil, but those increases are also spreading to other Energy sources, especially Fossil Fuels!

The Massive increases in Energy (Oil) costs to national & Global Economies has already added enormously to Cost levels & to the Debt to GDP ratio's of many countries and that contributed substantially to the GFC MK1 crash of 2008!

Whilst many are now contemplating a possible GFC MK2, I contend that we are still in the grip of GFC MK1, as it was only a massive increase in Public Debt that saw GDP stay above break even and if those increased Debts were subtracted, which they should be, then the actual/effective National & Global GDP levels would still be below zero!

3) Which now leads to the third factor, which is the Debt to GDP ratio!
In many nations, such as Greece, Spain, Italy the levels of Debt are now such that it is Publicly expected that some of the affected nations will Default on their National Debts.
This is now creating the likelihood of self re-enforcing tipping points & loops, much the same as Climate Change, which means that smallish problems such as Greece make other dominoes fall, meaning the problem/s & Debt levels become larger, thus roping in bigger Economies such as Spain, then Italy, the UK & finally the USA.

Unfortunately, what most people do, is they tend to look at issues in isolation and not at the total circumstances. Many people also tend towards a positive view of life, in which all problems will somehow be fixed, perhaps because that's usually the way it has been.

That said, these three factors are now combining to become unique in human history and unless there is some "Unique & until now unheard of innovation/technology, which enables us to Globally overcome Peak Energy & Climate Change (Food & Water) and can magically make Debt instantly disappear from the Global Economy, then that Global Economy has indeed Peaked and we have started to descend down a very slippery Economic aftermath.

So, good luck, watch the Debt and start getting actively involved!
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Re: What's the Real truth?
Reply #286 - Sep 16th, 2011 at 8:56pm
 
Limits To Keynesianism


...

While Keynesianism appears to have a benevolent, humanistic intent it is greatly disappointing that so many of its advocates do not also recognize its destructive aspects. Yes, free markets misallocate capital routinely. But Keynesianism as a policy also distributes capital unevenly, and unfairly. First receivers of government capital gain competitive advantages. First receivers of easy monetary policy also gain, and become predatory. The housing bubble was perhaps the most spectacular example of the destructive force of easy money, which resulted in a huge transfer of risk and wealth, recycled through society.

But the greatest flaw with Keynesianism now is that, like the economy itself, it has run squarely into the energy limit. As the most recently updated data shows, 2011 will be the 6th year that world production of crude oil was unable to increase beyond the ceiling established in 2005.

Oil remains the primary energy input to OECD economies. OECD economies are of course where the Keynesian experiment has flourished longest, first in Japan, then the United States and now Europe. It is hardly, hardly the case that the current financial crisis in the OECD is “simply a matter of accounting.” Instead, the crisis is one of systemic, structural growth now permanently limited by energy costs as OECD economies try to service debt loads that have escaped their ability to manage. Change all the digits, and the energy limit remains.

The redoubling of government efforts to distribute paper capital to society will not bring forth the cheap energy required to spur the growth Keynesians either assume, or have failed to even consider.

Link -
http://seekingalpha.com/article/293689-limits-to-keynesianism?source=email_macro...
========================================
There are other problems with the Keynesian model, as there is with the Austrian model, but Peak Energy is certainly one of the major stumbling blocks, as are the Demographic issues currently going thru the system!

That said, this graph makes it clear that we are now at Hubbert's Oil Peak plateau and have been since 2005 and that creates an enormous array of problems, Economic & otherwise!
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Re: What's the Real truth?
Reply #287 - Sep 18th, 2011 at 8:55am
 
Seniors' slice of population hits 23.3%

The Japan Times Online

Elderly people now make up a record 23.3 percent of the population, the internal affairs ministry said in an estimate Friday.

A record-high 29.8 million people were 65 or over
as of Thursday, up 240,000, or 0.2 percentage point, from the previous year, the data said.

The tally of seniors breaks down to about 12.73 million men, or 20.5 percent of the male population, and 17.07 million women, or 26.0 percent of the female population, the estimate said.

The estimate is based on data from the 2010 census.

The estimate for those 80 or above was 8.66 million, it said.

Pension benefits to be cut
The government is studying a proposal to cut public pension benefits based on deflation in past years and plans to carry out the change over a three-year period starting in fiscal 2012, sources said Thursday.

Link -
http://search.japantimes.co.jp/cgi-bin/nn20110917a2.html
============================================
So, there are now 23.3% of Japanese who are over 65 years and too old to work, as they are past the retirement age and there is approximately another 13% who are under 15 and too young to work.

...
http://www.jillstanek.com/2009/02/japan-to-workers-go-forth-and-multiply/

That means, just over one in every three Japanese, is now excluded from the workforce, due to their age!

That is not all that different to their situation from 1950, where some 40.3% fitted that same age area.

However, the Japanese are in transition from the old style Population pyramid of large numbers in the younger (under 15 year olds) Demographic coming thru to working age and very few older pensioners, to what appears to be the complete reversal, by 2050!

So, by 2050 one in every two japanese will be excluded from the workforce, 4 in every 10 will be on an aged pension (compared to 1 in every 25 back in 1950) and those youngsters (under 15) coming thru into the workforce will have shrunk to less than 10% of the total population, compared to some 35% back in 1950.

The questions remain -
1) Who does the work?
2) How can the country afford to pay the pensions?
3) How does the country avoid bankruptcy?
4) What happens to Consumer Demand in Japan, as that older population segment move into a more frugal retirement and then start to die off?
5) As the implications are apparent, why were measures not taken earlier, to compensate?

And, what impact does that suggest for the rest of the world, as most other countries are set to follow a similar pattern to Japan, just delayed by around 20 years?
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Re: What's the Real truth?
Reply #288 - Sep 18th, 2011 at 9:41am
 
<<And, what impact does that suggest for the rest of the world, as most other countries are set to follow a similar pattern to Japan, just delayed by around 20 years? >>
.....................................................

I was listening to a radio program with some social expert saying that there will be no aged care places in Australia for generation Y.
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"When the power of love overcomes the love of power, the world will know peace." Hendrix
andrei said: Great isn't it? Seeing boatloads of what is nothing more than human garbage turn up.....
 
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Re: What's the Real truth?
Reply #289 - Sep 21st, 2011 at 1:42pm
 
Sharp drop for economy, IMF warns


Markets have clearly become more sceptical about the ability of many countries to stabilise their public debt.

THE International Monetary Fund has slashed its economic forecasts for Australia, warning of a new global recession that would hit commodity prices and drive millions worldwide into unemployment.

Hours before the fund published its unexpectedly gloomy update in Washington, the Reserve Bank of Australia released a statement expressing concern about the global outlook and opening the way for interest rate cuts should things deteriorate.

The Australian dollar slid to a five-week low of US102¢ over renewed concerns about Europe after Italy lost its A+ credit rating. Australian shares fell 1 per cent.

The fund says Australia will grow at only 1.8 per cent this year, down from its previously forecast 3 per cent. The figure is way below the May budget forecast and only half the most recent Reserve Bank forecast, suggesting it will be harder than expected to reach the promised budget surplus in 2012-13.

But it points out that these are best-case forecasts, made on the assumption that almost everything goes right.

Its best case is for "anaemic" growth in the advanced economies of 1.6 per cent and for global growth of 4 per cent.

"However, this assumes European policymakers contain the crisis in the euro area periphery, that US policymakers strike a judicious balance between support for the economy and medium-term fiscal consolidation, and that volatility in global financial markets does not escalate," the fund says.

If one or more of its best-case scenarios does not eventuate, the US and much of Europe could slide back into recession, commodity prices could fall "abruptly" and much of the rest of the world would face a repeat of the global financial crisis.

The update is prefaced by an unusual apology. The chief economist, Olivier Blanchard, says he "largely failed to perceive" the slowdown as it was happening this year, wrongly blaming it at first on one-off events such as the earthquake and tsunami in Japan.

The Treasurer, Wayne Swan, who is about to go to Washington for the annual meetings of the IMF and World Bank, said the update was a "stark warning" that indicated the global economy had entered "a dangerous new phase".

The Reserve expressed concern about "extreme volatility in financial markets" reflecting fears about a global slowdown and an escalation of debt troubles in the US and Europe. It would note these developments in deciding how to move rates.
Link -
http://www.smh.com.au/business/sharp-drop-for-economy-imf-warns-20110920-1kjn6.h...
==========================================

A few observations -
1) There is zero chance of any best case scenario getting a look in, over the next 18 months or so!

2) In looking at these amended IMF Growth figures or any other growth figures for that matter, one should always keep in mind what is Nominal & what is Real
Nominal Growth is what is being used here, by the IMF, when they refer to Growth in Australia this year being 1.8%
Nominal growth
is also what's being referred to, when the IMF says that advanced economies will Grow at 1.6% and that global growth will be at 4%.
Real Growth
however, needs to have inflation deducted and when that is applied, all of these Growth figures, suddenly become negative!

In the case of China, it is still said that China is Growing at 9%, but what is not so prominently said is that the Chinese inflation rate is now around 7.5-8.0%, which may still leave some Real Growth. However, even that may be illusory, as Demand starts to slow significantly in both Europe & the USA. That decline in Demand from Europe & the USA will also be reflected in the other BRIC countries and a flow-on effect will be a decline in commodities, from countries such as Australia, which is partially the reasoning for the recent weakening of the OZ$.  

All of that said, these issues have not all of a sudden become "obvious or expected", organisations such as the IMF, the RBA, the FED Reserve, various Financial commentators/Economists and major Polictical Party's, particularly those who are in government have knowledge of the major factors which are influencing Global Economics, but they usually do not mention expected adverse outcome, because that extra credence may just make those possible outcomes into self fullfilling prophecies.

Then, there is also the issue of self interest, which also especially relevant to TPTB and which trickles down thru the system to Politicians and the like!  

The Truth is, we are very much like the old MUSHROOMS, we are expected to grow in the dark and be fed
crap
-
C
redible
R
eliable
A
bundant
P
aradoxes
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Re: What's the Real truth?
Reply #290 - Sep 24th, 2011 at 12:20pm
 
10,771.48  
Up 37.65 (0.35%)

http://chart.finance.yahoo.com/zs=%5eDJI&t=1d&q=l&l=on&z=l&a=v&p=s&lang=en-AU&region=AU

Well, the DOW finally finished UP 38 points for the last day of trading this week.

The day saw a number of hefty swings, both up & down. Following is an interactive version, which makes it easier to track the intra-day movements -

http://au.finance.yahoo.com/echarts?s=^DJI#symbol=^dji;range=1d;compare=;indicat...

Given the recent state of the markets and that declines continued to appear thruout the day, one would have to wonder at the source/s of the continued support?

The Truth is that TPTB are now in the unenviable position where Demand is set for a long term steady (at best) decline, because of Demographic, Energy & Debt related issues and they have NO weapon capable of even addressing those factors, let alone reversing them!  

So, sometime before the end of 2012, including next month (October Crashes seem popular over modern history) I would expect a massive capitulation in equity markets.

That phase of events could see some 30-50% of current share values disappear in a very short period of time.
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Re: What's the Real truth?
Reply #291 - Sep 24th, 2011 at 2:10pm
 
Precious Metals: Just a Squiggle


Now this is a correction. In the space of three days gold is off 10% and silver 25%.

What’s happening? Two things:
First, you don’t get this kind of run without this kind of correction. When something soars, the number of people with huge embedded profits eventually reaches a tipping point where, for a while, selling necessarily overwhelms buying. So regardless of what’s happening in the world, gold running from $300 to $1,900 and silver from $4 to $49 would create exactly this kind of volatility.

Second, all the borrowing we did to stave off the 2008 debt crisis has created a new one, with Greece on the verge of default and the US in trillion-dollar-deficit gridlock — and a realization that the people nominally in charge have no idea what they’re doing. Where new plans to create jobs or lower long term interest rates used to be met with enthusiasm, they’re now being met with disdain. This is huge. In the space of a few months the dominant financial fear has shifted from inflation back to deflation.

In other words, it’s 2008 again, but with much bigger debt numbers. Which takes us back to precious metals: Notice on the chart below that gold got whacked the last time conditions were deflationary. Between early and late 2008 it lost about 25%.

Gold - Last 5 Years
...

Some thoughts:
It’s impossible to overstate the panic that the world’s politicians and central bankers are experiencing.
They have no idea what’s happening now that the magic power of easy money seems to have failed
.
And because easy money is all they know, they will absolutely, without the slightest doubt, double down in coming months, flooding the US and Europe with credit.

Ironically, Europe’s troubles actually make it easier for the US to keep easing, because credit creation depends on the willingness of the rest of the world to accept dollars.

As long as dollars are in demand — as they are now, as capital flees the euro in favor of US Treasury bonds — the Fed can create more dollars and Washington can continue to issue more debt. Expect them to ramp it up big-time in the near future.

And politics doesn’t matter. The idea that president Mitt Romney or Rick Perry would accept a 1930s style depression in order to balance the budget is laughable. Faced with the prospect of becoming their generation’s Herbert Hoover, they’ll open the monetary floodgates just as certainly as would a second-term Barack Obama. In Germany, the recent bailouts may soon cost Chancellor Angela Merkel her job, but as a reader commented on a recent DollarCollapse article:

   Merkel is effectively losing one election after another but she loses to the left. The German left is pro integration and pro bailouts. In this weekend elections in Berlin, the minority party of the current coalition, that can be compared to the tea party, lost even the 5% quorum to have a representation to congress. They campaigned against Europe.

In other words, the next generation of European leaders will be hired by voters sick of austerity and will therefore be even more favorably disposed to bailing out everyone in sight.

This is profoundly positive for precious metals. As stomach-churning as this correction seems, a decade from now it will look like just another squiggle in a long, steep uptrend.

Link -
http://dollarcollapse.com/precious-metals/precious-metals-just-a-squiggle/
==============================================
Gold - Last 3 days
...

Silver - Last 3 days
...

In terms of TPTB, I would have put it slightly different -
They have no idea what’s happening or that money really doesn't have any magic powers.


That said, at some point a realisation will dawn that the US$ is not actually a safe haven and it will collapse, under the weight of massive Debts, but that may be a little further down the track, after the demise of the EURO!
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Re: What's the Real truth?
Reply #292 - Sep 24th, 2011 at 5:46pm
 
What's the Real truth?

Is there any other kind?
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Re: What's the Real truth?
Reply #293 - Sep 24th, 2011 at 6:56pm
 
NorthOfNorth wrote on Sep 24th, 2011 at 5:46pm:
What's the Real truth?

Is there any other kind?


Oh, I understand the comment!

However, the "Real Truth" is usually coloured by the tint of the glasses worn.

Therefore, depending on the beliefs of the owner of the glasses, the "Real Truth" may take on one of the many faces of the Hydra?

http://t2.gstatic.com/imagesq=tbn:ANd9GcSqxss1oez3ORJZ4wjlho1ng8DxI_4Cv6V-B2UMy_p1xjCOKZ3j

Btw, it's worth noting that whilst the Hydra has many heads, they are all linked to the one body and a similar analogy also applies to Politics & TPTB!
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Re: What's the Real truth?
Reply #294 - Sep 25th, 2011 at 12:30am
 
perceptions_now wrote on Sep 24th, 2011 at 6:56pm:
NorthOfNorth wrote on Sep 24th, 2011 at 5:46pm:
What's the Real truth?

Is there any other kind?


Oh, I understand the comment!

However, the "Real Truth" is usually coloured by the tint of the glasses worn.

If its 'coloured' or obfuscated, then its not the truth (or the 'real' truth) ... Its a lie.
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Re: What's the Real truth?
Reply #295 - Sep 25th, 2011 at 11:08pm
 
Signs The Perfect Economic Storm Is Coming


The financial world is officially going crazy. Can you believe what is going on out there right now? Financial markets have been jumping up and down like crazy for months and this is creating a lot of fear. Other than during the financial crisis of 2008, in the post-World War II era have we ever experienced as much financial instability as we are seeing right now? Should we just accept that massive financial instability is going to be part of "the new normal" in the financial world? The wild swings that we are witnessing in the global financial marketplace are making a whole lot of people very nervous right at the moment. When markets go up, they tend to do it slowly and steadily. When markets go down, a lot of times it can happen very rapidly. Also, as I have mentioned before, more major stock market crashes happen during the fall than during any other time of the year. The last major financial crisis happened during the fall of 2008, and things are starting to look a little bit more like 2008 with each passing day. The last thing the global economy needs right now is another major financial meltdown, but that may be exactly what we are about to get.

The Dow got absolutely hammered once again on Thursday. It was down almost 400 points, and it has lost a total of 674.83 points over the last two days combined.

A couple of days ago, I discussed 21 signs that the financial world was on the verge of a nervous breakdown. But I had no idea that things would get so ugly so soon. So what comes next?

One of the keys is to watch what the "insiders" are doing. Often they will say one thing and do another. At the moment, corporate "insiders" are selling 7 dollars of stock for every 1 dollar of stock that they are buying. Over the past couple of weeks, "insider" investing behavior has changed dramatically. The following is from an article that was recently posted on MarketWatch....

The insiders have vanished.
Chief executives. Board members. The head honchos. The people who know. Just a few weeks ago, they were out in force, buying up shares in their own companies with both hands. No longer. They’ve disappeared. Almost overnight. “They’ve stopped buying,” says Charles Biderman, the chief executive of stock market research firm TrimTabs, which tracks the data.

For some reason, this almost always starts happening before a crash.
So obviously this is not a good sign.

Not only that, but a third very troubling sign is that an extraordinary number of bets have been placed against the S&P 500. As I noted the other day, if there is a stock market crash in the next few weeks, somebody is going to make a ton of money....

It doesn't take a genius to see all the dark financial clouds that are gathering on the horizon.

As fear spreads, it is only going to make global financial instability even worse. If something doesn't change, we could soon have a full-blown panic on our hands.

So why should the rest of us care if global financial markets crash and a bunch of bankers lose a whole lot of money? Well, unfortunately our entire economic system is based on credit. When the last financial crash happened in 2008, the credit markets got really tight. Economic activity started to freeze up. We entered a deep recession and unemployment skyrocketed.

The truth is that the U.S. economy is in the middle of a long-term decline. The economy declined badly while George W. Bush was in office, and the decline has accelerated since Barack Obama entered the White House.

As I wrote about yesterday, the American people are feeling really depressed about the economy and 80 percent of them believe that we are in a recession right now.

We live in unprecedented times. The financial world has become incredibly unstable, and none of us is really quite sure what "the new normal" is going to look like after all of this is over.

But one thing is for sure - things never stay the same for long. The way that things have been in the past is not how things are going to be in the future.  

A "perfect storm" is coming. Everything that can be shaken will be shaken.

You better get ready.


Link -
http://seekingalpha.com/article/295457-signs-the-perfect-economic-storm-is-comin...
===================================
The Truth is, there are some major negatives lining up against the Global Economy and regrettably the signs are not good!

That said, this author is suggesting that some of TPTB may already be bailing, ahead of another October crash?
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Re: What's the Real truth?
Reply #296 - Sep 27th, 2011 at 11:53am
 
Stocks Advance on Optimism Europe Will Act


U.S. stocks advanced, giving the Dow Jones Industrial Average its biggest increase in a month, amid speculation that European policy makers will act to prevent the region’s debt crisis from getting worse.

The Standard & Poor’s 500 Index added 2.3 percent to 1,162.95 at 4 p.m. in New York, after falling as much as 0.5 percent earlier. All 10 groups in the gauge advanced today. The Dow climbed 272.38 points, or 2.5 percent, to 11,043.86.

“You had some quasi-positive comments out of Europe,” Russ Koesterich, the San Francisco-based global chief investment strategist for the IShares unit of BlackRock Inc., said in a telephone interview.
“The situation in Europe is a near term risk, but if the global economy muddles through, you’ll probably have room for a rally in stocks.”

“Now is the time to be bullish, not the time to panic,” Jeffrey Saut, chief investment strategist at Raymond James & Associates in St. Petersburg, Florida, said in a telephone interview. His firm manages $278 billion. “I don’t think we’re going into a recession. Europe will come up with something.”

“When you look at Europe, the solutions are not going to be implemented any time soon,” Stephen Wood, who helps oversee about $163 billion as the New York-based chief market strategist for Russell Investments, said in a telephone interview. “That means the market volatility is going to continue.”

Link -
http://www.bloomberg.com/news/2011-09-25/u-s-stock-futures-slump-as-europe-fails...
===========================================
What we really have here is simply as case of
"Stocks Advance on Optimism"  

OR to put it another way -
"BUY ON THE RUMOUR & SELL ON THE FACT"

That said, based on -
some quasi-positive comments out of Europe

the situation in Europe is a near term risk, but if the global economy muddles through

I don’t think we’re going into a recession. Europe will come up with something


a 272 point gain on the DOW IS JUST A JOKE!

The Truth is, solutions will not be implemented any time soon.

In fact, time may well be the only solution, as Demographic, Peak Energy, Climate Change & Debt related issues eventually work themselves thru and a new balance is found?



In the mean time, we await the next edition of "Sell on the Facts"!
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Re: What's the Real truth?
Reply #297 - Sep 28th, 2011 at 3:05pm
 
Latest Lateline Program


Go to following lateline site, then click onto story with Gerrard Minack, who is the chief Economist with Morgan Stanley.
Minack gives his views on Europe, the USA and Future.


http://www.abc.net.au/lateline/
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Re: What's the Real truth?
Reply #298 - Sep 29th, 2011 at 8:45am
 
Wall St falls on commodities rout, Europe worries


US stocks snapped a three-day winning streak, sinking into the closing bell as a drop in commodities prices added to concerns about policymakers' ability to contain Europe's debt crisis.

The Dow Jones Industrial Average fell 179.79 points, or 1.61 per cent, to 11,010.90. The Standard & Poor's 500-stock index lost 24.32 points, or 2.07 per cent, at 1151.06, while the Nasdaq Composite shed 55.25 points, or 2.17 per cent, to 2491.58.

The decline comes after a three-day run that added 4.3 per cent to the Dow.

Early this morning the Dow shot up more than 125 points before turning negative. Near the end of the day, the blue-chip index lurched lower, falling about 160 points during the final hour as copper prices slid lower, dragging down materials stocks.

"My expectation is the breakdown in copper is driving this -- gold, silver and copper are all capitulating here, and that's very common in a market fishing for low," said Travis Cochran, market strategist for MF Global. Mr Cochran also pointed to the strengthening US dollar: "If you see the dollar continue to strengthen, that's going to be bearish for some of these risk assets."

"Whenever the stockmarket is driven more by emotions and hope than fundamentals, you're likely to see sentiment change quickly," said Kate Warne, investment strategist for retail-investor brokerage firm Edward Jones.

"Coming out of recessions, it's always very confidence-driven...The longer this goes on, the more this dents consumer confidence and business confidence, and that creates a negative feedback loop which impacts the economy," said Christopher Blum, who manages JPMorgan Asset Management's Intrepid Value Fund. "There's not a lot of time in my mind to reverse the negative course, but it looks as if the politicians aren't in a big rush to solve this."

Link -
http://www.theaustralian.com.au/business/markets/wall-st-falls-on-commodities-ro...
=========================================
There is some Truth in those statements, except for the bit of spin about "coming out of Recession", which is incorrect, as the indicators show Global Growth is again slowing, as would be expected, given the major factors now influencing the Global Economy.
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Re: What's the Real truth?
Reply #299 - Sep 29th, 2011 at 9:17am
 

the markets have become more volatile.
Some good coys are selling on a very good yield, it's getting close to the stage where one should borrow to buy these better coys.
the yield and tax write off on repayments will essentially repay the loan.

So you'll get given blue chip shares for nothing. Thanks.

Fear and greed run the markets.
Nothing is new - read "reminisces of a stock operater", a book now now about 90 years old .
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Re: What's the Real truth?
Reply #300 - Sep 29th, 2011 at 10:31am
 
Sprintcyclist wrote on Sep 29th, 2011 at 9:17am:
the markets have become more volatile.
Some good coys are selling on a very good yield, it's getting close to the stage where one should borrow to buy these better coys.
the yield and tax write off on repayments will essentially repay the loan.

So you'll get given blue chip shares for nothing. Thanks.

Fear and greed run the markets.
Nothing is new - read "reminisces of a stock operater", a book now now about 90 years old .


It is true that markets have become MORE VOLATILE and that is not going away any time soon.
In fact, the volatility is likely to increase AND some LARGE FALLS are likely, with little or no warning , TO THE GENERAL PUBLIC, particularly those outside the USA & EUROPE!


That's NOT quite correct! There may be many outcomes, which will look similar to past events, but there may be, in fact there is likely to be some outcomes that are very rare or have never happened before.
My reason for making that statement, is that current & future events are being largely driven by "once in human history factors", such as -
1) Demographics - Ageing Baby Boomers (biggest generation in history) & a slowdown in Population Growth, which is a prelude to actual & permanent Population Decline, in about 20-30 years (once in history).
2) Peak Energy - An actual Decline in Fossil Fuels is on the near future radar, after the Plateau that it has been on for the last 6 years or so. This does have some rare examples in human history, for the main energy source to go into such a Decline, but it is of a minor nature, such as Easter Island.
3) Peak Debt - Debt has now reached a point where it must fall Globally, even though the accepted Economic view of "fiat currencies & money markets" is that exponential growth is REQUIRED or the house of cards will collapse.  This is also a oncer, as it has never happened on this scale.
4) Climate Change - Whatever is thought of the extent of mankinds influence on these events, the fact is that the climate is changing and it is likely set to reach a warming Peak, before then reverting to the cooling trend, which has happened many times before in the planets history, but only once before in human history and we went very close to becoming extinct!  

In short, it is very unlikely, for quite some time, if ever, that we will see equity markets give the short of investment returns that happened over the last 50 years?
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Re: What's the Real truth?
Reply #301 - Sep 29th, 2011 at 11:34am
 
Once upon a time, the Sahara desert was lush rainforest.
Once upon a time, the earth was totally covered in ice.
Once upon a time Australia was part of Africa.

Once upon a time we had funny little old homeless guys walking around with placards that said ' we are doomed'  and 'the end is nigh'.

They all cleaned themselves up, joined political parties, discovered fast cars and hookers..and lived happily ever after.  

And that, my friends,  is the real truth.
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Re: What's the Real truth?
Reply #302 - Oct 1st, 2011 at 10:21am
 
The Mighty US$

Last Report dated 03/09/2011

US$ Index (basket of Currencies):  @ 78.80 (Last Report - 74.71) (2010/06/04 - 87.85)
http://www.goldseek.com/quotes/charts/usdollar/usdollarindex24hour.php

Euro - US$: @ 1.3388 (Last Report - 1.4205) (2010/06/04 - 120.44)
AUD$ - US$: @ 0.9662 (Last Report - 1.0645) (2010/06/04 - 83.17)
AUD$ - GBP: @ 0.6200 (Last Report - 0.6563) (2010/06/04 - 57.04)
AUD$ - EURO:  @ 0.7217 (Last Report - 0.7492) (2010/06/04 - 69.06)
http://www.bloomberg.com/markets/currencies/fxc.html

Gold - @ US$1,622.30 (Last Report - US$1,884.20) (2010/06/04 - $1,207.80)
Oil WTi -  @ US$79.20 (Last Report - US$86.45) (2011/03/19 US$101.01)  (2010/06/04 - $70.22)
BALTIC DRY INDEX (BDIY) - @ 1,899 (Down 14 @ Friday close) (Last Report – 1,740) (2010/06/04 - 3,844)
http://noir.bloomberg.com/apps/quote?ticker=BDIY:IND

DOW @ 10,913 - (Down 241 @ Friday close) (Last Report - 11,240)  (2010/06/04 - 11,444)
ALL ORDS @  4,070 (Up 2 @ Wednesday close) (Last Report - 4,322) (2010/06/04 - 4,840)
SHANGHAI COMPOSITE @  2,359 (Down 6 @ Friday close) (Last Report - 2,528) (2010/06/04 - 2,553)
http://www.bloomberg.com/?b=0

Last 5 years DOW -
http://finance.yahoo.com/echarts?s=%5EDJI#chart3:symbol=

THERE was movement at the FED, for the word had passed around, That the US$ was an old Regret and its value had long since passed away
==================
Well, talk about VOLATILITY!

In the month, since the last report -
The US$ index rose from  74.71 to 78.80
The Euro to the US$
dropped from 1.4205 to 1.3388

The OZ$
fell against the US$ from 1.0645 to 0.9662

Gold
declined from $1,884.20 to $1.622.30

Oil (Wti) has
fallen from $86.45 to $79.20 a barrel

The DOW
receded from 11,240 to 10.913

The ALL Ords is
down from 4,322 to 4,070

AND the SHANGHAI COMPOSITE has continued its
downward trend from 2,528 to 2,359  



The Oil Price will now decline along with the Global Economy, for some time, before recommencing it's rise, due to Supply related problems!

DOW
Share markets after reaching mid year lows, as the DOW went from just under 9800 in July, to finish 2010 at 11,577.
The DOW Declined from 12,657 on July 9th, to 11,445 on August 6th, before hitting a recent low of 10,719 on August 10th and some wild recent fluctuations, before finishing down 241 on Friday, at 10,913.
Given the basic Economic factors in play, I suspect the trend is down & we are not yet anywhere close to a bottom.


ALL ORDS
The Australian market rose from just under 4,300 in July to finish 2010 at 4,847.
The All Ords Declined from 4,716 on July 9th, to 4,170 on August 6th, before hitting a recent low of 4057 on August 8th amid some wild swings, before finishing up 2 on Friday, at 4,070.
Following the US & Europe performances on Friday, it is likely that OZ will follow on Monday with another fall!
OZ, as with most other countries will follow the US and I therefore suspect that the All Ords is also no where close to a bottom.


SHANGHAI COMPOSITE
The Shanghai Composite now seems set on a downward trend, since April, 2011!
The Shanghai Composite finished down 6 on Friday, to close at 2,359.
http://chart.finance.yahoo.com/zs=000001.SS&t=6m&q=l&l=on&z=l&a=v&p=s&lang=en-AU&region=AU

NOTE: Given the REAL, BASIC ECONOMIC FACTORS involved -
1) Declining Demand, due to Demographics (Baby Boomer Ageing & Job losses) and the Public anticipating a poor Economic future, due to Debt problems in the US & Europe.
2) Peak Energy & related issues.
3) Neither side of the Economic divide (Keynesians Vs Austrians) can magically solve the current Global Economic dilemma's.
4) Bernanke & the FED are Impotent.
5) Obama can not stimulate the US Economy, as US Debt is already far too high, so any possible stimulus measures can only be mild and that is, IF any measures can get past the Republicans & the Tea Party.

I WOULD SUGGEST, THE TRUTH IS, THAT EQUITIES ARE GOING TO TAKE A HAMMERING for quite some time and given these circumstances and the history of past October events, there may be even greater volatility over the next 30 days?

Good luck & watch the Debt!  
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Re: What's the Real truth?
Reply #303 - Oct 3rd, 2011 at 11:52am
 
ALL Ords lowest since July, 2009


At just after 11am, the ALL ords hit 3,973.90, which is the first time back below 4,000 since July, 2009.
http://www.google.com/finance?q=INDEXASX:XAO

The ALL Ords have since recovered somewhat, to be trading around 4,000, following a rise in DOW Futures.
http://www.forexpros.com/indices/us-30-futures-advanced-chart

That said, the Truth is, given the volatility of recent trading, anything is possible?

As I have said previously, I expect the ALL Ords, in line with other markets, will re-test their March, 2009, in the short term (prior to the end of 2012), which would see the All Ords at or under 3,111.

However, in the slightly longer term, I expect markets to re-trace their levels prior to the start of this current bubble, which could see the ALL Ords hit the low 2,000's or even something with a 1 handle at the start?
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Re: What's the Real truth?
Reply #304 - Oct 3rd, 2011 at 1:41pm
 
perceptions_now wrote on Oct 3rd, 2011 at 11:52am:
ALL Ords lowest since July, 2009


At just after 11am, the ALL ords hit 3,973.90, which is the first time back below 4,000 since July, 2009.
http://www.google.com/finance?q=INDEXASX:XAO

The ALL Ords have since recovered somewhat, to be trading around 4,000, following a rise in DOW Futures.
http://www.forexpros.com/indices/us-30-futures-advanced-chart

That said, the Truth is, given the volatility of recent trading, anything is possible?

As I have said previously, I expect the ALL Ords, in line with other markets, will re-test their March, 2009, in the short term (prior to the end of 2012), which would see the All Ords at or under 3,111.

However, in the slightly longer term, I expect markets to re-trace their levels prior to the start of this current bubble, which could see the ALL Ords hit the low 2,000's or even something with a 1 handle at the start?


The all Ords were back down to 3973 at 2.30pm. They will most likely bounce back before close.  Crazy world of fiat money.
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"When the power of love overcomes the love of power, the world will know peace." Hendrix
andrei said: Great isn't it? Seeing boatloads of what is nothing more than human garbage turn up.....
 
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Re: What's the Real truth?
Reply #305 - Oct 3rd, 2011 at 1:56pm
 
Ex Dame Pansi wrote on Oct 3rd, 2011 at 1:41pm:
perceptions_now wrote on Oct 3rd, 2011 at 11:52am:
ALL Ords lowest since July, 2009


At just after 11am, the ALL ords hit 3,973.90, which is the first time back below 4,000 since July, 2009.
http://www.google.com/finance?q=INDEXASX:XAO

The ALL Ords have since recovered somewhat, to be trading around 4,000, following a rise in DOW Futures.
http://www.forexpros.com/indices/us-30-futures-advanced-chart

That said, the Truth is, given the volatility of recent trading, anything is possible?

As I have said previously, I expect the ALL Ords, in line with other markets, will re-test their March, 2009, in the short term (prior to the end of 2012), which would see the All Ords at or under 3,111.

However, in the slightly longer term, I expect markets to re-trace their levels prior to the start of this current bubble, which could see the ALL Ords hit the low 2,000's or even something with a 1 handle at the start?


The all Ords were back down to 3973 at 2.30pm. They will most likely bounce back before close.  Crazy world of fiat money.


That would depend, largely on what happens on the DOW Futures, over the next hour of so!

Crazy world of Politics & Economics (in general), as well!
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Re: What's the Real truth?
Reply #306 - Oct 3rd, 2011 at 2:25pm
 
The Capitist Anthem
I Need A Dollar


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Re: What's the Real truth?
Reply #307 - Oct 3rd, 2011 at 5:00pm
 
All Ords closed at 3960.


http://www.asx.com.au/asx/widget/chart.doasxCode=XAO&type=INDEX

    that was a big one day drop
OUCH!!!!
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"When the power of love overcomes the love of power, the world will know peace." Hendrix
andrei said: Great isn't it? Seeing boatloads of what is nothing more than human garbage turn up.....
 
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Re: What's the Real truth?
Reply #308 - Oct 4th, 2011 at 8:57am
 
perceptions_now wrote on Oct 4th, 2011 at 12:15am:
DOW rises 115 points in minutes - Why?


In just a few minutes, the DOW has gone up some 115 points!
http://www.google.com/finance?q=INDEXDJX:.DJI

Any good news out?


DOW Finishes down 258


Well, the Truth was, NO good news came out, but someone may have been trying to influence the market, which doesn't seem to have succeeded.

http://chart.finance.yahoo.com/zs=%5eDJI&t=1d&q=l&l=on&z=l&a=v&p=s&lang=en-AU&region=AU

That makes nearly 500 points or 4.5% in the last 2 days trading.

Given US & European markets performances overnight, the OZ markets are likely to take another hammering today, unless someone pulls a rabit out  of the hat, by talking up something that is not going to resolve the current major Economic influencing Factors.

Anyhow, unless DOW Futures rise, for some reason, the ALL Ords will probably fall around 75-90 points today.

Good luck & watch the Debt!
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Re: What's the Real truth?
Reply #309 - Oct 5th, 2011 at 8:42am
 
U.S. Stocks Jump as S&P 500 Gains 4.1% in Final Hour


U.S. stocks rallied
, driving the Standard & Poor’s 500 Index up 4.1 percent in the final 50 minutes,
amid speculation European Union officials are examining how to recapitalize the region’s banks
. Treasuries fell and the euro rallied.


The S&P 500 surged 2.3 percent to 1,123.95 at 4 p.m. New York time, sparing the benchmark measure of U.S. equities its first bear market, or 20 percent retreat from a peak, since 2009. Yields on Treasury 10-year notes climbed 6 basis points to 1.82 percent. The euro appreciated 1.1 percent to $1.3322. Futures on Germany’s DAX Index pared their loss to 1 percent from 4.9 percent.

Equities rebounded after the S&P 500 fell below 1,090.89, the closing level required to give the index a 20 percent slump from the three-year high reached on April 29. Stocks rose after the Financial Times quoted Olli Rehn, European commissioner for economic affairs, as saying there is an “increasingly shared view” that the region needs a coordinated approach to halt the sovereign debt crisis. After U.S. markets closed, Belgian Prime Minister Yves Leterme said a “bad bank” to hold Dexia SA (DEXB)’s troubled assets will be set up.

“The European crisis has been the market driver,” Richard Sichel, who oversees $1.6 billion as chief investment officer at Philadelphia Trust Co., said in a phone interview. “If Europe comes out with something to kick the can down the road, it buys them more time. We learned in 2008 how important the financial system is and how a ripple effect can occur.”

U.S. stocks followed European shares lower earlier as some officials signaled bondholders may have to take bigger losses on Greek debt than previously negotiated.

The possible breakup of Belgian bank Dexia and Deutsche Bank AG (DBK)’s abandonment of its profit forecast added to signs that contagion from the debt crisis is spreading. Goldman Sachs Group Inc. cut its global growth forecasts and predicted recessions in Germany and France.

Link -
http://www.bloomberg.com/news/2011-10-04/asia-stocks-oil-drop-on-europe-crisis-c...
=========================================
http://chart.finance.yahoo.com/zs=%5eDJI&t=1d&q=l&l=on&z=l&a=v&p=s&lang=en-AU&region=AU

Well, that was Fortuitous?

Just as the broader US S&P was about to close below 20% down from its April highs and enter into "official Bear Market" territory, out comes a rumour that Europes problems are about to have a magical fix and the DOW responds by rising some 360 points, in less than an hour, to provide some temporary breathing space!

This again reminds me of the adage, "buy on the rumour & sell on the fact" and the fact is that this is "market manipulation" by TPTB, to buy a little more time, in the hope that time will somehow solve all problems, which in this instance, it can't!

That said, at least the local (OZ) markets may get some respite today, with a rise, unless the can didn't get kicked far enough down the road, the facts surface too quickly and the DOW Futures dive again today?

We really are, now on the roller coaster ride of our lifetime!


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Re: What's the Real truth?
Reply #310 - Oct 5th, 2011 at 12:33pm
 
Hopefully this will shed some light on the situation.
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Re: What's the Real truth?
Reply #311 - Oct 8th, 2011 at 12:09pm
 
Shrinking workforce may dampen expansion for decades


WASHINGTON —
This is not your mother’s recovery.


Women and baby boomers entering the American workforce after 1950 helped to supercharge expansions in 1975 and 1983 by filling an increasing number of jobs and purchasing more goods and services. Now as the share of women with jobs falls and older Americans age into retirement, the shrinking — or, at best, slowly growing — workforce will weaken economic activity for the next two decades.

The demographic changes may be the biggest and least-appreciated reason why the two-year recovery has slowed, because the rate of growth for labor and capital is “the most important determinant” of economic expansion,
said James Paulsen, chief investment strategist for Wells Capital Management in Minneapolis.


More retirees mean slower household formation, reduced consumer spending and downward pressure on equity prices as retirement cuts people’s purchasing power, according to John Lonski, chief economist at Moody’s Capital Markets Group in New York, and Gus Faucher, director of macroeconomics at Moody’s Analytics Inc. in West Chester, Pa.

“A weaker labor force does dampen the pace of the rebound,” along with “our expectation for what an expansionary trend is,” said Dean Maki, chief U.S. economist at Barclays Capital Inc. in New York. “We should be lowering our sights on potential GDP compared to when our population was younger.”

Anemic gains in the number of new workers has effectively cut the long-term “speed limit for growth” to 2.25 percent, estimates Maki, a former senior economist at the Federal Reserve. That compares with the Fed’s estimated 2.5 percent to 2.8 percent rate for gross domestic product and average growth of 3.2 percent from 1980 to 2000.

Automakers General Motors, Ford and Toyota, motorcycle maker Harley-Davidson and natural- foods grocer Whole Foods Market may be hurt by the shift because most retirees will cut spending on big-ticket items and nonessentials, said C. Britt Beemer, chairman of America’s Research Group in Charleston, S.C., a consulting company that studies consumer behavior.

“Older people tend to have lower incomes, their consumption tends to be lower and in that sense, consumer-spending growth would be weaker as well,” said Moody’s Faucher. “There will be fewer people in prime car-buying years,” and “recreational goods and services are a young-adult thing.”

The aging population also may hold down stock values for the next two decades as boomers sell shares to finance retirement, according to a Federal Reserve Bank of San Francisco research paper released Aug. 22.

“The mentality has shifted to preserving wealth rather than growing wealth, with less-risky portfolio allocations,” said Emily Sanders, president of Sanders Financial Management Inc. in Norcross, Ga., whose largest group of clients is aged 55-65. A typical 65-year-old may have 50 percent of his portfolio in stocks, which would drop to 30 percent at age 80, she said.

Faucher forecasts changing demographics will lead to a period when nominal GDP growth — which includes the impact of inflation — slows to 3.3 percent compared with 5.5 percent before the 18-month recession. That means the rise in corporate profits and equity prices would slow to about 3.3 percent from 5.5 percent as well, he said.

An estimated 72 million people, or 19.3 percent of the population, will be 65 and older by 2030, compared with 40 million, or 13 percent, in 2010, the Census Bureau estimates.

“We are at the threshold of retirement mountain: a huge, huge change in the numbers of people who are reaching the age where they are leaving the labor force,” said Neal Soss, chief economist with Credit Suisse Holdings USA in New York.

While losses from declines in the value of 401k and similar accounts may force some to delay retirement, these delays will be temporary, he said.

“Maybe one of the solutions here is that they work a year or two longer,” he said. “Do we really think we are going to have a lot of 80-year-olds in the workforce? It sounds good until you start thinking about the practicalities of it.”

The baby boom, the population bulge born after World War II between 1946 and 1964, added 9.4 million people in the 16-24 age group during the 1960s and 7.3 million in the 1970s. The percentage of women in the workforce almost doubled to 60.3 percent in 2000 from 33.6 percent in 1953, according to the Labor Department.

Boomers started turning 65 this year, and every day for the next 18 years, about 10,000 more will hit the age that historically has been associated with retirement, according to the Pew Research Center in Washington. Women’s participation in the labor force may decline slightly during the next 40 years to about 57 percent because fewer will have jobs as they grow older, the Bureau of Labor Statistics projects.

While GDP has grown at an average annual pace of 2.4 percent in the eight quarters since the December 2007 recession ended, that compares with an average of 6.3 percent after the July 1981 slump and 4.7 percent following the November 1973 contraction, both of which lasted 16 months.
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Re: What's the Real truth?
Reply #312 - Oct 8th, 2011 at 12:09pm
 
Shrinking workforce may dampen expansion for decades (Cont)


Gary Burtless, senior fellow at the Brookings Institution in Washington, agrees that slower population growth affects the rate of economic output. Still, the recent decline in the workforce “is vastly greater than can be explained” by demographics and mainly reflects the inability of unemployed people to find work,
he said.

Some industries may benefit from the demographic shift, Faucher said.

“We’d expect to see strong growth in health-care spending, and I think we’ll need to see strong growth in investment spending as companies will need to invest in technology to get greater productivity,” he said.

About 70 percent of Americans aged 50 to 64 are very or moderately worried about having enough money in retirement, an April Gallup poll showed. People need about 70 percent to 80 percent of their pre-retirement income to live comfortably after they quit working, according to the Social Security Administration.

Their concerns may be exacerbated as the slow recovery and aging workforce has prompted the government to forecast that Medicare, the government’s health-insurance program for the elderly and disabled, and the Social Security trust for the disabled and retirees will run out of money sooner than earlier projections.

The trustees of the two programs reported in May that Medicare won’t have sufficient funds to pay full benefits starting in 2024, five years earlier than last year’s estimate, and Social Security’s cash to pay full benefits runs short in 2036, a year sooner than the 2010 projection.

Maya Hahn, an Atlanta real-estate agent, turned 65 last week and said she plans to retire next year on less than half the “six-figure income” she earned during the early 2000s. She considers herself “semiretired” now because of the housing bust in the past few years.

“The happiest day of my life was the day I got my Medicare,” she said. “It was a huge weight lifted off me” because of rising health-care and drug expenses in retirement.

“You have to think about what you spend on anything,” she said. “You don’t go out to movies. You don’t go out to dinner. You don’t go on vacation. There are no fun bucks.”


Link -
http://www.dailyherald.com/article/20110904/news/709049865/
==============================================
It is True, that this Economic slowdown & this recovery, are different to all such previous events!

It is also True, that the Demographic issues raised in this article are & will be a major influence over existing & future events!

It is also True, that Demographic issues have been the single, most influential Determinant that has shaped the Global Economy, for the last 80 years and which will continue to do so over the next century, together with Peak Energy & Climate Change!

These are the factors that are driving & will continue to drive Consumer Demand!

There is absolutely no way that Governments OR Central Banks can push up Consumer Demand, given these major factors!

All that has happened so far, is attempts to inflate Demand by various measures including many Financial sector bailouts. That has caused Economic Growth to be kept artificial higher (although still lower than usual/past averages), governments have vastly inflated their Debts and therefore the headline GDP Growth has been & is an illusion, it is not real and it can not be sustained against the major factors currently influencing the Global Economy!    

Any past, current &/or future attempts, by Governments or CB's to push on the peice of string commonly called Demand, will result in an abject failure!

The Truth is, there is NO QUICK FIX for what's happening!

It will certainly require higher Taxes, particularly from Business & the higher end Income earners!

It will also certainly require expenditure savings, partiularly in areas where efficiencies can be implemented & many Political Party Favourites will have to go!

But, in the long run, we will also have to accept that the old concepts of a growth Economy are dead and we must start down a new paths, both Economically & Politically!

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Re: What's the Real truth?
Reply #313 - Oct 8th, 2011 at 8:26pm
 
Belgium Joins The PIIGS


We need to add a new name to the ever increasing list of insolvent EU countries: the Kingdom of Belgium. Yesterday, it was reported that Belgium, in conjunction with the French government, would effectively nationalize and then break up the struggling mega bank Dexia (DXBGF.PK) and spin it off into the form of a good-bank/bad bank scenario (with taxpayers forced to pay the bill). This news is widely credited with sparking the 400-point move in the Dow in the last 45 minutes of trading.

The collapse of Dexia should not have taken anyone by surprise. In fact, the hopelessly irresponsible bank is no stranger to taxpayer funded bailouts. Back in 2008, during the depths of the US financial crisis, Dexia was injected with 6.4 billion EUR of capital by the French, Belgian, and Luxembourg governments. In addition, the bank was given up to 150 billion EUR in funding guarantees to assure reassure counterparties and to allow the bank to continue operations

One of the most troubling aspects of the Dexia saga is the incompetence of EU regulators and ratings agencies, which should spook any bank shareholder. Dexia notes proudly on its website that it passed last year's EU bank stress test, saying: “The conclusion of the stress tests is that Dexia does not require additional capital to withstand the CEBS two-year 'what-if' adverse scenario including the additional sovereign shock.” Most skeptics pointed out the flaws of the EU bank stress tests, mainly that they were too conservative and failed to prepare banks for an extreme case like a sovereign default.

It turns out that those critics were correct. While corruption and stupidity is to be expected among EU bureaucrats, one would think that investors could at least rely on ratings agencies for some factual information.

The major story of the Dexia bailout is that it now puts Belgium in the same position as EU bailout recipient Ireland, which was rendered bankrupt by the markets and frozen out of the credit markets in late 2010. Belgium at this time is unable to afford a major bank bailout for two major reasons: deteriorating economic finances and lack of political consensus. In 2010 Belgium GDP came in at $467 billion dollars, and debt to GDP rose to 97.2%.

As of June 30, 2010 foreign investors owned a whopping 88.7% of Belgium’s Treasury certificates and 55% of its Linear Bonds.

How investors will react to an over-leveraged country bailing out a bankrupt bank with total assets (517 billion EUR) that exceed the country’s GDP is not a pleasant thought.


Link -
http://seekingalpha.com/article/297975-belgium-joins-the-piigs?ifp=0&source=emai...
===========================================
A few observations -
1) Political corruption & incompetence is not restricted to Belgium Politicians.
2) Ratings agencies should be very closely examined, for their roles, in this entire Gloabl Economic Event.
3) Now that Belgium have joined the Piigs, how will things change if Germany fall into the trap?
Will we then have -
Big Pigs?

B
elgium
I
reland
G
reece

P
ortugal
I
taly
G
ermany
S
pain  


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Re: What's the Real truth?
Reply #314 - Oct 8th, 2011 at 8:30pm
 
Perceptions Now, would you happen to know Dexia's two biggest shareholders?

You should update your research on Ireland.
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Politicians and Nappies need to be changed often and for the same reason.

One trouble with political jokes is that they often get elected.

Alan Joyce for PM
 
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Re: What's the Real truth?
Reply #315 - Oct 8th, 2011 at 10:02pm
 
qikvtec wrote on Oct 8th, 2011 at 8:30pm:
Perceptions Now, would you happen to know Dexia's two biggest shareholders?

You should update your research on Ireland.


Do you mean besides the Belgium & French governments?

Please feel free, to update away!

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Re: What's the Real truth?
Reply #316 - Oct 8th, 2011 at 10:41pm
 
Keynes and Hayek, the Great Debate

(Part 1)


Oct. 6 (Bloomberg) -- In the early weeks of 1927, Friedrich Hayek, a young Viennese economist, wrote to John Maynard Keynes at King’s College, Cambridge, in England, asking for an economic textbook written 50 years before: Francis Ysidro Edgeworth’s exotically titled “Mathematical Psychics.” Keynes replied with a single line on a plain postcard: “I am sorry to say that my stock of ’Mathematical Psychics’ is exhausted.”

Why did Hayek, an unknown economist with little experience, approach, of all people, Keynes, perhaps the best-known economist in the world?

Scarce Resources
Edgeworth interested Hayek because one of the subjects he explored at length was a topic that would come to engage both Keynes and Hayek: how scarce resources can best maximize the “capacity for pleasure.” The forbiddingly titled “Mathematical Psychics: It anticipated a great number of the debates that would entangle economists over the next century, including notions of “perfect competition,” “game theory” and, most important for the impending battle between Keynes and Hayek, the belief that an economy will reach a state of “equilibrium” with every able- bodied adult fully employed.

(Part 2)
Friedrich Hayek arrived in London in January 1931 to take up an invitation to participate in the most telling duel in the history of economics. His aim, in four lectures at the London School of Economics: Overturn the theories of John Maynard Keynes, and prove that recessions were not caused by a lack of desire from customers to buy goods.

In his second lecture, Hayek addressed an important and, in light of the world slump, a highly topical subject: Under what conditions do resources come to be left unused? He declared that to explain any economic phenomenon it was convenient to assume that over time an economy would reach a state of equilibrium in which all resources would be fully employed. But there would be times in the interim when all available resources were not used.

Of all the ways that production could be increased, Hayek suggested, the most effective was by employing capital to satisfy later demand in what he called “roundabout” methods of production. Hayek drew a diagram on the blackboard in the shape of a triangle. He argued that to meet future demand, entrepreneurs over time invest in a succession of intermediate capital goods -- such as tools and machinery -- that are, in the main, sold to other producers of capital goods. In due course, the employment of these roundabout methods of production led to the provision of more consumer goods in the future. Entrepreneurs were prepared to delay making a profit by investing in such intermediate production methods because it would allow them to produce more consumer goods in the future, thereby fulfilling the desires of consumers, who save today to have more tomorrow.

Core Question
This brought Hayek to the core question of his lecture: How did methods of production needing less capital progress to methods needing more capital? The answer was simple: When people spent less on consumer goods and saved more, their savings were invested in capital goods. But there was another way: More capital goods might be produced when money was made available to producers by bank loans.
This second method, he said, was not real saving but “forced saving” because the new investment had come about not because of an increase in savings but simply because it suited banks to lend. When the money lent to producers was reduced to its former level, the capital invested in equipment was lost.

“We shall see in the next lecture,” he said ominously, “that such a transition to less capitalistic methods of production necessarily takes the form of an economic crisis.”

Dislocation and Collapse
In the third lecture, with his usual impeccably meticulous, if forbiddingly desiccated, approach, Hayek described how an unwarranted increase in borrowing led over time to a dislocation in the production process of capital goods, which, in turn, caused a collapse at the bottom of the business cycle. To help those without a remorselessly analytical bent, Hayek offered an example.

“The situation would be similar to that of a people of an isolated island, if, after having partially constructed an enormous machine which was to provide them with all necessities, they found out that they had exhausted all their savings and available free capital before the new machine could turn out its product,” he said. “They would then have no choice but to abandon temporarily the work on the new process and to devote all their labor to producing their daily food without any capital.”

Link -
http://www.businessweek.com/news/2011-10-05/keynes-and-hayek-the-great-debate-pa...
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Re: What's the Real truth?
Reply #317 - Oct 8th, 2011 at 10:50pm
 
Keynes and Hayek, the Great Debate

(Part 2) - Cont


Persistent Unemployment
In the real world, Hayek suggested, the result was persistent unemployment. He offered a simple, if unpalatable, truth to those, like Keynes, who advocated increasing the demand for consumer goods to increase employment: “The machinery of capitalistic production will function smoothly only so long as we are satisfied to consume no more than that part of our total wealth which under the existing organization of production is destined for current consumption. Every increase of consumption, if it is not to disturb production, requires previous new saving.”

Hayek also confronted another Keynesian remedy, that if an idle plant was brought into use, it would spur a depressed economy back to life and increase employment. “What [economists like Keynes] overlook is that … in order that the existing durable plants could be used to their full capacity it would be necessary to invest a great amount of other means of production in lengthy processes which would bear fruit only in a comparatively distant future.”

Artificial Demand
He went on, “It should be fairly clear that the granting of credit to consumers, which has recently been so strongly advocated as a cure for depression, would in fact have quite the contrary effect.” Such “artificial demand,” he suggested, would merely postpone the day of reckoning. “The only way permanently to ‘mobilize’ all available resources is, therefore, not to use artificial stimulants -- whether during a crisis or thereafter - - but to leave it to time to effect a permanent cure.” In brief, there was no easy way out of a slump. In the long run, the free market would restore an economy to an equilibrium that allowed everyone to be employed.

Hayek scored a bull’s-eye with his audience. Here at last was a cogent, convincing repudiation of Keynesian interventionist notions. Hayek showed that the remedies coming from Cambridge, which appeared so plausible, were riddled with logical flaws. Having the best of intentions wasn’t enough. Addressing the symptoms of a depressed economy by investing with borrowed money only made matters worse. Instead, Hayek offered a sober remedy of his own: Forget about quick fixes, the uncomfortable truth is that only time will cure an imbalanced economy. Beware smooth-talking doctors, such as Keynes, who offered a quick cure, for they are charlatans, snake-oil salesmen, and quacks. The market has its own logic and contains its own natural remedy.

Link -
http://www.businessweek.com/news/2011-10-06/keynes-and-hayek-the-great-debate-pa...
===========================================
The Truth is that Keynes and Hayek, were both correct & incorrect, depending on the situation!

Anyone care to hazard a guess or two, on the rights & wrongs of these two, in normal situations, versus the current & future circumstances?

The Truth is, that both major Political Party's & their advisors, have no idea of what any of this is about, let alone having any understanding of why neither Economic theory will actually work under the current major Economic factors!  
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Re: What's the Real truth?
Reply #318 - Oct 9th, 2011 at 9:28am
 
What it comes down to is short term versus long term hazards.  

I'm not getting into a debate about Climate Change, and I refuse to bite when people say that I've been listening to Al Gore too much. I don't need to listen to Al Gore.  All he does is simplify to the extent that it doesn't make sense what he says. My own training allows me to understand the atmospheric physics as well as the pretty unsophisticated attempts to convince the general public that it's either right or wrong, because without the underlying understanding, it degenerates into appeal to Al Gore or my authority is better than your authority.  (If anybody really wants to discuss the actual science then that probably belongs on a separate thread). However if you want the real truth rather than what you'd like to be the truth, then be prepared to think it through perhaps a bit more deeply than you have done in the past, because the science is actually quite subtle in some areas.  

That said, the major effects of climate change are relatively low profile and like any other environmental issue, we don't notice them because they are creeping and subtle changes when viewed over a relatively short time-scale. Aside from that, they probably won't influence the current generation very much, but will have a pretty dramatic effect on future generations. It will kill people eventually.

However the bottom line is that short term issues, such as jobs  (and other issues up to 10 years) will always win hands down over long term issues.

Boards of directors and shareholders are really not too concerned about something that will affect them 30 years down the track, or in most cases when they're long dead. When faced with something like a carbon tax that will affect short to medium term profitability, they will fight it tooth and nail.

I know that it's a real issue, but apart from measures to make renewable energy really attractive, I doubt if a watered down carbon tax will really stand a snowflakes chance in hell of  achieving the objectives, especially if such measures on a global scale have been hijacked by those seeking wealth redistribution, aka survival of the least fit.  
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Re: What's the Real truth?
Reply #319 - Oct 9th, 2011 at 9:36am
 
muso wrote on Oct 9th, 2011 at 9:28am:
However the bottom line is that short term issues, such as jobs  (and other issues up to 10 years) will always win hands down over long term issues.

Boards of directors and shareholders are really not too concerned about something that will affect them 30 years down the track, or in most cases when they're long dead. When faced with something like a carbon tax that will affect short to medium term profitability, they will fight it tooth and nail.
 

Yes, true.

This will be a generational thing requiring probably up to 50 years of gradual change in public opinion.

It will probably require the public to have a general opinion of those whose industries pollute as dangerous criminals who deserve severe punishment (10 years plus in prison).

Until then, few are going to give a rat's arse about the environment over jobs and profit. Remember James Hardie and asbestos?

Hopefully it won't be too late by then.
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Conviction is the art of being certain
 
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Re: What's the Real truth?
Reply #320 - Oct 9th, 2011 at 4:56pm
 
Fitch Downgrades Spain, Italy on "Intensification of Euro Zone Crisis"; Outlook Negative; Greek 1-Year Bond Yield Hits 144%


Spain and Italy, the euro region’s fourth- and third-largest economies, were downgraded by Fitch Ratings on concern they will struggle to improve their finances as Europe’s debt crisis intensifies.

Spain had its foreign and local currency long-term issuer default ratings cut to AA- from AA+, while Italy had the same set of ratings to A+ from AA-, the company said in statements today.

Moody’s also warned “all but the strongest euro-area sovereigns” are likely to see further downgrades, when it cut Italy’s rating for the first time in almost two decades.

Spain’s Socialist government, which faces a general election on Nov. 20,
has said the country may miss its 2011 growth forecast of 1.3 percent as the recovery slows. Unemployment remains above 21 percent and the manufacturing industry contracted the most in more than two years in September. Regional governments, which are responsible for health and education and hire half of Spain’s public workers, are behind schedule to meet their deficit targets, preliminary data showed on Sept. 8.

Nothing has been solved in Spain, Portugal, Italy, Greece or for that matter Europe in general.

The yield on Greek 1-Year Government Bonds ended the day at 144%
.

Link -
http://globaleconomicanalysis.blogspot.com/2011/10/fitch-downgrades-spain-italy-...
=============================================
The Truth is, these are the effects of the major Factors influencing the Global Economy and those factors are far from finished.

MORE turmoil can be expected, for quite some time.

Politicians & Economists, can not defeat these factors, the can only delay their impact for a while, but in doing so, they make the final effects worse, as they do when bailing out the financial sector, at the Public expense!
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Re: What's the Real truth?
Reply #321 - Oct 9th, 2011 at 6:14pm
 
perceptions_now wrote on Oct 8th, 2011 at 10:02pm:
qikvtec wrote on Oct 8th, 2011 at 8:30pm:
Perceptions Now, would you happen to know Dexia's two biggest shareholders?

You should update your research on Ireland.


Do you mean besides the Belgium & French governments?

Please feel free, to update away!



With respect to Ireland you'll need to remove them from your acronym and research their position; it has changed substantially recently.

An yes I did mean the Belgium & French governments, both of which own more than 60% of Dexia, you can be sure the restructuring of Dexia will be done in an orderly fashion.
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Politicians and Nappies need to be changed often and for the same reason.

One trouble with political jokes is that they often get elected.

Alan Joyce for PM
 
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Re: What's the Real truth?
Reply #322 - Oct 9th, 2011 at 8:31pm
 
qikvtec wrote on Oct 9th, 2011 at 6:14pm:
perceptions_now wrote on Oct 8th, 2011 at 10:02pm:
qikvtec wrote on Oct 8th, 2011 at 8:30pm:
Perceptions Now, would you happen to know Dexia's two biggest shareholders?

You should update your research on Ireland.


Do you mean besides the Belgium & French governments?

Please feel free, to update away!



With respect to Ireland you'll need to remove them from your acronym and research their position; it has changed substantially recently.

An yes I did mean the Belgium & French governments, both of which own more than 60% of Dexia, you can be sure the restructuring of Dexia will be done in an orderly fashion.


Really, hows that?

Really? Please excuse me, if I give that a wait & see approach.
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Re: What's the Real truth?
Reply #323 - Oct 9th, 2011 at 8:34pm
 
perceptions_now wrote on Oct 9th, 2011 at 8:31pm:
qikvtec wrote on Oct 9th, 2011 at 6:14pm:
perceptions_now wrote on Oct 8th, 2011 at 10:02pm:
qikvtec wrote on Oct 8th, 2011 at 8:30pm:
Perceptions Now, would you happen to know Dexia's two biggest shareholders?

You should update your research on Ireland.


Do you mean besides the Belgium & French governments?

Please feel free, to update away!



With respect to Ireland you'll need to remove them from your acronym and research their position; it has changed substantially recently.

An yes I did mean the Belgium & French governments, both of which own more than 60% of Dexia, you can be sure the restructuring of Dexia will be done in an orderly fashion.


Really, hows that?

Really? Please excuse me, if I give that a wait & see approach.


They'll hive off the profitable divisions and wind up the rest, and have drinks at 6pm to celebrate.  

BTW Shareholders lower in the pecking order will get shafted.
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« Last Edit: Oct 9th, 2011 at 9:28pm by qikvtec »  

Politicians and Nappies need to be changed often and for the same reason.

One trouble with political jokes is that they often get elected.

Alan Joyce for PM
 
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Re: What's the Real truth?
Reply #324 - Oct 10th, 2011 at 9:11am
 
NorthOfNorth wrote on Oct 9th, 2011 at 9:36am:
muso wrote on Oct 9th, 2011 at 9:28am:
However the bottom line is that short term issues, such as jobs  (and other issues up to 10 years) will always win hands down over long term issues.

Boards of directors and shareholders are really not too concerned about something that will affect them 30 years down the track, or in most cases when they're long dead. When faced with something like a carbon tax that will affect short to medium term profitability, they will fight it tooth and nail.
 

Yes, true.

This will be a generational thing requiring probably up to 50 years of gradual change in public opinion.

It will probably require the public to have a general opinion of those whose industries pollute as dangerous criminals who deserve severe punishment (10 years plus in prison).

Until then, few are going to give a rat's arse about the environment over jobs and profit. Remember James Hardie and asbestos?

Hopefully it won't be too late by then.


In the case of James Hardie and asbestos, it was health related rather than environment, but I take your point.

As far as not giving a rat's arse about the "environment", let's get this clear. This is not about Polar bears. It's about the survivability of an extremely large human population that is already on a knife edge.
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Re: What's the Real truth?
Reply #325 - Oct 10th, 2011 at 9:36am
 
muso wrote on Oct 10th, 2011 at 9:11am:
NorthOfNorth wrote on Oct 9th, 2011 at 9:36am:
muso wrote on Oct 9th, 2011 at 9:28am:
However the bottom line is that short term issues, such as jobs  (and other issues up to 10 years) will always win hands down over long term issues.

Boards of directors and shareholders are really not too concerned about something that will affect them 30 years down the track, or in most cases when they're long dead. When faced with something like a carbon tax that will affect short to medium term profitability, they will fight it tooth and nail.
 

Yes, true.

This will be a generational thing requiring probably up to 50 years of gradual change in public opinion.

It will probably require the public to have a general opinion of those whose industries pollute as dangerous criminals who deserve severe punishment (10 years plus in prison).

Until then, few are going to give a rat's arse about the environment over jobs and profit. Remember James Hardie and asbestos?

Hopefully it won't be too late by then.


In the case of James Hardie and asbestos, it was health related rather than environment, but I take your point.

As far as not giving a rat's arse about the "environment", let's get this clear. This is not about Polar bears. It's about the survivability of an extremely large human population that is already on a knife edge.


Well seeing Western Governments are now loath to send in 100's of thousands of troops & carpet bombing is now passe, we need something to cull our numbers.
Oh sorry I forgot we're special animals that the laws of nature don't apply to, so we cant control our numbers through sensible public policy cause Gud would be angry Wink
That only leaves mass starvation & disease, some choice but hey isn't the more you suffer the greater the reward in Gud's house?
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REBELLION is not what most people think it is.
REBELLION is when you turn off the TV & start educating & thinking for yourself.
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Re: What's the Real truth?
Reply #326 - Oct 10th, 2011 at 1:35pm
 
qikvtec wrote on Oct 9th, 2011 at 8:34pm:
perceptions_now wrote on Oct 9th, 2011 at 8:31pm:
qikvtec wrote on Oct 9th, 2011 at 6:14pm:
perceptions_now wrote on Oct 8th, 2011 at 10:02pm:
qikvtec wrote on Oct 8th, 2011 at 8:30pm:
Perceptions Now, would you happen to know Dexia's two biggest shareholders?

You should update your research on Ireland.


Do you mean besides the Belgium & French governments?

Please feel free, to update away!



With respect to Ireland you'll need to remove them from your acronym and research their position; it has changed substantially recently.

An yes I did mean the Belgium & French governments, both of which own more than 60% of Dexia, you can be sure the restructuring of Dexia will be done in an orderly fashion.


Really, hows that?

Really? Please excuse me, if I give that a wait & see approach.


They'll hive off the profitable divisions and wind up the rest, and have drinks at 6pm to celebrate.  

BTW Shareholders lower in the pecking order will get shafted.


For information purposes, the following links have embedded videos, in which the Dexia Bank break up is discussed -

http://www.bloomberg.com/video/77117294/

http://www.bloomberg.com/video/77182886/

http://www.roadtoroota.com/public/709.cfm?awt_l=5oxEA&awt_m=3XLlokYhVxAZ85B

Interestingly, the DOW Futures are currently up about 1%, just over 100 points, notwithstanding the Forex insiders online survey is currently showing at 67% Bearish.
There are some interesting contradictions about!  
http://www.forexpros.com/indices/us-30-futures-advanced-chart
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« Last Edit: Oct 10th, 2011 at 1:42pm by perceptions_now »  
 
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Re: What's the Real truth?
Reply #327 - Oct 11th, 2011 at 8:14pm
 
Trichet Sees ‘Systemic’ Danger as Greek Writedowns Divide EU


European Central Bank President Jean-Claude Trichet warned of threats to the financial system as the conflict among political leaders intensified over how to extricate Europe from the debt crisis.

“The crisis has reached a systemic dimension,” Trichet told European lawmakers in Brussels today. “Sovereign stress has moved from smaller economies to some of the larger countries. The crisis is systemic and must be tackled decisively.”

European officials are toiling to meet an end-of-month deadline set by French President Nicolas Sarkozy to get to grips with the crisis, which has propelled Greece to the brink of default, shaken world markets and fueled speculation that the 17-nation currency might not survive in its current form.

Greek bondholders may face writedowns of more than 60 percent, Luxembourg Prime Minister Jean-Claude Juncker said, setting the stage for high-stakes bargaining at an Oct. 23 crisis summit. Asked by Austrian television last night whether Europe is considering writedowns of 50 percent to 60 percent, Juncker, who chairs euro-area finance meetings, said: “We’re talking about more.”

Germany, Europe’s largest economy, is pushing for bondholder losses that go beyond the 21 percent envisioned in a July accord, running into resistance from the ECB and commercial banks.

“There’s no obvious solution,” Luxembourg Finance Minister Luc Frieden told reporters in Luxembourg today. “There are several options that must be examined from the technical and political points of view.”

For Greece, the endgame drew nearer with an announcement that EU, ECB and IMF experts are likely to complete their economic-review mission today.

The report will put Greece’s 2011 budget deficit at 9.1 percent of gross domestic product, missing the original target of 7.5 percent and a revised target of 8.5 percent, Kathimerini newspaper reported, without citing anyone.

Link -
http://www.bloomberg.com/news/2011-10-11/trichet-sees-systemic-danger-as-greek-w...
====================================
So, what does all that mean?

Well, the Truth is that -
1) Greece is on the brink of default.
2) Greek bondholders will face massive writedowns, of more than 60 percent.
3) Stress has moved from smaller economies to some of the larger countries.
4) The crisis is now systemic.
5) There is no obvious solution.
6) The 17-nation currency is not likely to survive in its current form!
7) The Europe problem, will become Global.

And, all of that is only one of the side effects of the major factors driving this Global Economic event!

By way of comparison, Australian currently has a -
GDP of around $1.2 Trillion
Deficit of around $48 Billion (4% of GDP)
Debt of about $200 Billion (17% of GDP)

Whereas Greece has a -
GDP of around $312 Billion
Deficit of around $28 Billion (9% of GDP)
Debt of about $470 Billion (150% of GDP)

And, if Australia were in Greece's position, then the oZ financials would be -
GDP of around $1.2 Trillion
Deficit of around $108 Billion (9% of GDP)
Debt of about $1.8 Trillion (150% of GDP)


Regrettably, we in OZ, can be certain that we will be sorely tested by the GFC MK2 and NO Politician from Labor or Liberal, NO matter how much they promise, will be able to keep us out of the coming mess!
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Re: What's the Real truth?
Reply #328 - Oct 14th, 2011 at 6:30pm
 
Economic theory and the Real Great Contraction


The contemporary debate over the future of natural resources features two competing theories of economics.

The view that dominates all economic policy and theory today is rooted in the work of Adam Smith, published from 1759 to 1776. It holds that self-interest, if unimpeded by regulation, can be harnessed and trusted to produce socially desirable outcomes. His argument was that free trade maximizes the utility of producers to ration the demand of scarce resources and allocate them via an “invisible hand” to consumers with the highest marginal demand more efficiently than allocation by dictate could. History proved him right: the world’s supply of energy has continued to increase steadily ever since.

Smith wrote his seminal book, The Wealth of Nations, after becoming enamored of the Physiocracy theory emerging in France. It viewed the entire economy as being built upon agricultural output, which it mostly was. In Smith’s time, the world was primarily powered by our most ancient energy sources: plants, wind and water. The exploitation of coal had only just begun, and the steam engine had only just been invented. The age of oil wouldn’t even begin for another 140 years.

The competing view holds that the world is approaching “peak everything.” Peak oil, peak coal, peak gas, peak food, peak water, and ultimately, peak population. At some point the supply of these critical resources can no longer be increased; they will peak, and then decline, taking economic productivity down with them. Or in economic terms, the price at which new supply can be offered to the market will be a price that the market can’t support.

Being of a scientific mind, I prefer data over faith, which puts me in the latter camp.

When oil got to $120 per barrel in 2008 it cut into real productivity, and forced the world’s most developed economies to shrink. At $147, it wreaked serious damage. The subsequent economic crash took oil prices all the way down to $33 a barrel within six months. U.S. petroleum demand declined by nearly two million barrels per day (mbpd) from 2007 through 2009, of which 85 percent was lost in the commercial and industrial sector.

Every dollar of gross domestic product up until 2005 was generated on the back of cheap and easy oil. Without energy, there can be no economic activity. When global conventional crude oil production hit its peak-plateau in 2005, ending its 150-year-long trajectory of growth, it appears that global GDP per capita did too. Further, the last three major recessions in the U.S. all occurred after petroleum expenditures rose to more than 5.5 percent of GDP.

At more than nine percent of GDP, we are well above that threshold again today.


But under modern laissez-faire economic theory, perpetual economic growth is axiomatic and mandatory. It is built into all our assumptions and our generally accepted accounting practices. It is presumed by the issuance of sovereign debt and the printing of money, both of which are essentially claims on future productivity. Growth must be maintained, at all costs. This presumption justified the creation of financial instruments like mortgage-backed securities based on no-money-down loans, to juice up a housing sector that would have gone flat if only truly creditworthy borrowers could buy a house. It justified trillions of dollars worth of Keynesian stimulus since 2007, and many economists argue that trillions more are needed still.

In short, when the gas tank on the engine of economic growth ran low, we turned to inflating monetary bubbles, and stuffed those in the tank. It created the temporary illusion of a bit more economic growth, but it came at the cost of several future generations’ worth of debt.

Despite these obvious facts, the entire world still assumes that growth will continue. Everyone thinks the world will get to nine billion people by 2050, when seven billion today are already encountering fierce competition for food and fuel. Every economic model offered by government agencies projects at least a 1.5 percent annual growth rate for another two decades.

Just as a fish has no concept of water, the faith that technology will somehow produce enough food and fuel to feed those nine billion is so embedded into our thoughts, so intrinsic to the economic theories we have been taught, that it isn’t even questioned. There is no need to worry about the declining energy content of our fuels, and the declining supply of basic agricultural nutrients like phosphorus. We needn’t bother with the fact that the net energy (the energy left over after subtracting the energy expended in production; also known as energy return on investment, or EROI) of all our major fuels is in long-term decline. The invisible hand will provide! Always!

I maintain that all of these beliefs are wrong. They are based on faith, not current realities, and they misconstrue what Adam Smith actually believed. They are as bankrupt intellectually as our economy is financially.

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Re: What's the Real truth?
Reply #329 - Oct 14th, 2011 at 6:31pm
 
Economic theory and the Real Great Contraction (Cont)


Not only are we finding it painfully expensive and difficult to produce new resources, the so-called free market no longer provides socially beneficial results. It now produces crashing global fish populations, depleted and vanishing topsoil, water in the Gulf of Mexico contaminated by blown-out oil wells and the runoff of agricultural fertilizers, hundreds of square miles of landscapes rendered lifeless in the pursuit of coal and tar sands, totally unsupportable and dysfunctional topographies of cars and roads and suburbs, and air so filthy that last week Milan banned all vehicles from its streets and Beijing’s air is rated as “hazardous” or worse nearly every day.

Modern economic theory has no plan to address these very real problems. Indeed, it is utterly blind to them. It has no ambition to achieve a sustainable result. It does not capture the time value of use; it only serves to bring supply to market as quickly as demand warrants, which is particularly unfortunate when our most rational strategy now would be to make the last half of our oil endowment last as long as possible, not to use it as quickly as possible.

The reason we like laissez-faire capitalism is not because it’s intrinsically correct and comprehensive, but because it only asks us to do what we want to do, and confers a mantle of legitimacy upon self-interest. But if you look closely at the data on fossil fuels, agricultural inputs, arable land, water, and all the rest of the resources necessary for human life and economic growth, it’s clear that the situation has changed. We have reached the end of growth, no matter how much faith we have to the contrary.

The Great Contraction
The question we now must ask is: What comes after the end of growth? The answer should be obvious.

While crude remains on its current production plateau, OECD economies may expect growthless stagnation. Oil has become a zero-sum market, where the OECD’s loss in demand owing to high prices, staggering debt, and anemic growth will be the gain of emerging economies as they work their way up the economic ladder.
When crude begins its inevitable, terminal decline somewhere around 2014 or 2015, depriving the world of about two percent of its primary energy supply every year, it will slowly strangle economic output, under a scenario I call the Real Great Contraction.


After oil begins its decline, gas and coal will too. By roughly 2030, 78 percent of our current global primary energy supply will be in decline. There is no way that renewables can make up that loss in time to prevent economic decline.

The world would need to build the equivalent of all existing renewable energy capacity every year just to make up for the decline of oil, let alone coal and gas. Since that is unlikely, the only remaining option is to reduce demand through efficiency gains. Given that the world is nowhere near on a trajectory to make enough efficiency gains to maintain even a flat economy, it must contract.

The modern interpretation of Smith’s invisible hand — that the market can always call forth adequate resources at an acceptable price — is self-evidently not true. It is merely a misreading of Smith’s theory, an artifact of developing economic theory in an age of energy surplus. Take that surplus away, and it doesn’t work anymore. High prices can still ration demand, but they cannot call forth adequate supply.

The connection between abundant, cheap energy and economic growth, and the phase transition from an age of surplus to an age of less, continues to confound and elude mainstream economists.

Rather than admitting that the fiction of wealth (money) is overextended far past its basis in real wealth (hard assets), we demand that our economic oracles perform rituals to appease the gods, dropping paper money from helicopters like some sort of cargo cult.

The Physiocrats of the late 18th century believed mankind would eventually overshoot its resources, since land is finite. (The emerging contemporary field of biophysical economics follows in that tradition.) That they could not have imagined the wealth of fossil fuels yet to be exploited does not disprove their thesis; it merely delayed it, and ensured that when human demands finally do overwhelm the capacity of a finite planet to satisfy them, the overshoot and crash will be spectacular.

Lacking energy alternatives that can be scaled and substituted for fossil fuels within two or three decades, true believers in free market theory must now hang their hopes on science fiction saviors like fusion reactors. In my view, none of these things are likely.

If we do not muster the political will and the mechanisms needed to execute a rapid deployment of efficiency gains and a massive transition to renewables while we still have fossil fuels with which to do it, this century will see humanity slide back down the ladder of energy consumption and credit expansion in a long and volatile reversion to the mean of human history, to a much lower equilibrium of complexity and consumption.
The Real Great Contraction is here.




That's my opinion!
(also)
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Re: What's the Real truth?
Reply #330 - Oct 17th, 2011 at 8:09pm
 
Opinion: Bernard Hickey asks if John Key has a Plan B if peak oil, aging workforces and little technical progress create a growthless global economy.

It hasn't dawned on John Key, but the idea that growth in the developed world may have stalled for more than a year or two is now dawning on central bankers, economic thinkers and protestors around the world.  

The realisation that real and sustainable growth may not have happened in the developed world for the last 20 years is even more unsettling.

Here's the thinking. Oil production essentially peaked around a decade ago. Technical innovation has been stagnant for at least 20 years. Populations began ageing. This meant that per-capita growth in output was much slower than in the post-war years up to the 1970s.

See more here from Peter Thiel on The End of the Future.

Any growth that was produced was gobbled up by the richest 5 percent of the population as the financialisation of the economy shuffled more profits to banks, traders, executives and their shareholders. A relaxation of the Depression-era rules stopping investment banks from joining up with commercial banks, along with an increasing focus on rewarding executives many multiples of average incomes accelerated the surge of income to the top tiers.

This non-growth and the increasing inequality of incomes was essentially disguised, particularly for the middle classes in developed economies such as the UK, the US and New Zealand, by borrowing from the savings in export-rich economies such as China, Japan and Germany.

The debt crunch we are now seeing in Europe and America is essentially the moment of truth for this strategy. When debts grow faster than income this eventually ends in unserviceable debts. Greece and the Eurozone is trying to control that moment of truth right now and is failing.

The debt can't be sustained without some sort of debt jubilee, where debts are forgiven, or by a burst of inflation. Regular savers want a debt jubilee where bank shareholders and bond holders take the pain. Borrowers want inflation where regular savers take the pain.
They can destroy banks and their bondholders and shareholders by forcing them to forgive the now unsustainable debts.Or they can bail out the banks and shift the debt onto the balance sheets of taxpayers while encouraging inflation. This spreads and delays the debt problem, an eventually ends with sovereign credit rating downgrades and ultimately the bankruptcy of countries. That's what we're seeing now in Greece.

So far politicians in the United States, backed by their political funders in the banking sector, have chosen to bail out the banks and shift the burden to taxpayers generally while inflating away the value of money. This is fueling much of the anger and has created a monster moral hazard problem, along with banking monsters that are even more dangerous and too big to fail.



Unending strong growth in the developed world cannot be sustained. There isn't enough oil, young workers and technical innovation to sustain it.

So what is New Zealand's Plan B?

Link -
http://www.interest.co.nz/opinion/56214/opinion-bernard-hickey-asks-if-john-key-has-plan-b-if-peak-oil-aging-workforces-and-li
==========================================
The Truth is, I doubt that any of the Politicians or Central Bankers, have any Plan B!
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Re: What's the Real truth?
Reply #331 - Oct 23rd, 2011 at 11:25am
 
Will a failing euro trash our future?

Laurie Oakes
The Daily Telegraph October 22, 2011

THE noises coming out of Europe are ominous. Australians should sit up and take notice.

"If there isn't a solution by Sunday, everything is going to collapse,"said French President Nicolas Sarkozy before dashing to Frankfurt for emergency talks with German Chancellor Angela Merkel.

"If the euro fails then Europe fails,"
said Merkel. Although she added hopefully: "We will not let that happen."

The German economy is sliding towards recession. British ministers are openly discussing the likelihood of a double dip recession there.

In an article I read yesterday on the European situation the words "careering towards the economics of the Great Depression" leapt off the page.

And in Canberra on Thursday Treasury boss Martin Parkinson warned bluntly that Australia would be hit hard if Europe's leaders failed to resolve the crisis.

Europe - to quote Sarkozy again - "has a rendezvous with its history".

The summit has three jobs. It has to come up with a solution to the dire situation in Greece, where debt default is imminent, more tough austerity measures are in train, and street violence and strikes suggest a society in a state of near-insurrection.


Task No.2 is to beef up the European Financial Stability Facility massively so that, if Spain and Italy get into the same kind of trouble as Greece, there will be a fund big enough to deal with it.

And, finally, the leaders are being called on to recapitalise Europe's banks, having failed to clean things up after the Global Financial Crisis.

He added: "The bigger risk to the Australian economy, though, would be if Europe failed to deliver a comprehensive response to the sovereign debt crisis and found itself in the situation where basically it was dragging the rest of the world into a second global recession."

In that situation China, which sends about 20 per cent of its exports to Europe and about the same to the US, would be seriously affected, magnifying the Australian impact.


That would mean damage to growth, jobs and the Budget bottom line. So, even for Australia, the Brussels summit is a big deal, and economic experts in Canberra say there is no guarantee it will deliver.

French and German leaders started their Frankfurt talks in serious disagreement on how radical the package needs to be. Sarkozy wants to go further than Merkel does. Germans are said be be suffering from "bailout fatigue".

We'd better keep our fingers crossed. Expectations are so high that, if European leaders are perceived to fall short again, there's a major risk financial markets will spiral down.

It could all get pretty grim, especially given the deadlock between US President Barack Obama and a Republican Congress over America's own revival measures.

The Australian economy has grown by 6 per cent since the GFC, whereas the US and all major industrial economies in Europe are still smaller than they were when that crisis hit.

And, as Parkinson pointed out to the Senate committee, Australia's 7 per cent debt position compares with a figure in the 90 per cent band in the rest of the developed world.

Link -
http://www.dailytelegraph.com.au/news/opinion/will-a-failing-euro-trash-our-futu...
==========================================
I think you will find, the main Criteria for success today, would be for another headline grabbing news story that does plenty of talking, but achieves nothing!


Why? Because all the Politicians have been doing, for quite some time is kicking the can a little further down the road!

The Politicians know they can not solve the "problem", because the major Economic factors can not simply be switched on & off instantly and the current alignment of Macro Economic factors are nearly all negative. They (the Pollies) are purely restricted to "political spin", as their sole weapon of defense & attach, to try to deflect events, long enough, so history doesn't record a major collapse starting on their watch.

Well, bully for them, WE ARE THE ONES WHO WILL BEAR THE REAL TRUTH!  

So, whatever does or doesn't happen today, it may or may not cause problems on Global markets, but in the long run, WE ARE THE ONES BEING SET UP TO PAY THE TAB!


Btw, whilst Australia's Debt position is considerably better than most other countries, it isn't quite the rosy 7% suggested in this article.
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Re: What's the Real truth?
Reply #332 - Oct 23rd, 2011 at 12:26pm
 
France and Germany ready to agree €2tn euro rescue fund


France and Germany have reached agreement to boost the eurozone's rescue fund to €2tn (£1.75tn) as part of a "comprehensive plan" to resolve the sovereign debt crisis, which this weekend's summit should endorse, EU diplomats said.

The growing confidence that a deal can be struck at this Sunday's crisis summit came amid signs of market pressure on France following the warning by the ratings agency Moody's that it might review the country's coveted AAA rating because of the cost of bailing out its banks and other members of the eurozone. The leaders of France and Germany hope to agree a deal that will assuage market uncertainties or, worse, volatility, in the run-up to the G20 summit in Cannes early next month.

France would now have to pay more than a percentage point – 114 basis points – over the price paid by Germany to borrow for 10 years as the gap between the two country's bond yields widened to their highest level since 1992.

The news cheered US investors. All the major stock markets surged, with the Dow Jones Industrial Average rising 250 points, or 2.2%, to 11,651, after earlier falling by 101 points earlier in the day.

Berlin had dampened down prospects of a full-scale deal, although EU diplomats close to the talks say the Franco-German agreement covers boosting the financial firewalls for eurozone members to withstand the threat of a "credit event" or sovereign debt default in weaker countries.

This takes two forms. First, the main bailout fund, the European financial stability facility, will be given additional levers enabling it to offer first-loss guarantees for bondholders, be they private or public. Senior diplomats say this will deliver a fivefold increase in the fund's firepower – giving it more than €2tn compared with the current €440bn lending capability. The EFSF will in effect become an insurer, thereby overcoming European Central Bank resistance to the idea of turning into a bank.

Second, Berlin and Paris have agreed that Europe's banks should be recapitalised to meet the 9% capital ratio that the European Banking Authority is demanding after its re-examination of the exposure levels of 60 to 70 "systemic" banks. The EBA has marked these exposures much closer to current market values.

Berlin and Paris are also said by those close to the negotiations to be edging nearer to agreeing on the increased scale of private sector involvement in the second rescue package (€109bn) for Greece. This was set at a voluntary 21% "haircut" in the July package but, under worsening overall economic conditions and a likely restructuring of Greek debt, Germany has been pushing for losses of up to 50%. France, backed by the ECB, has resisted the idea, while EU officials have clearly indicated that a range of 30 to 50% is being considered.

http://www.guardian.co.uk/business/2011/oct/18/france-and-germany-move-towards-2...
===========================================


This story reminds me of a scene from one of the Superman movies.

Lois Lane falls off a building and Superman, on seeing this, flies up & catches Lois, then says, "don't worry Lois, I've got you"!
Lois then looks down and says, "You've got me, BUT WHO'S GOT YOU?
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Re: What's the Real truth?
Reply #333 - Oct 26th, 2011 at 10:50pm
 
The population crash will kill our economy – good news for the planet


As the world's population reaches 7 billion this month, there is renewed soul-searching about overpopulation. But in much of the rich world, we have slammed on the demographic brakes so hard that it may be helping drive our current economic tailspin.

Exhibit A is Japan.
Economists say the developed world is entering now what Japan first experienced back in the 1990s, when it suffered a "lost decade" of economic stagnation from which it has never recovered.

Japan has the world's oldest people – average female life expectancy is 86 years – and it has among the world's lowest fertility rates. At just 1.2 children per woman, it has not much more than half what it needs to maintain population numbers. Meanwhile, the average age is well over 40, and one in four people are over 65.

This is an extraordinary turn-round. Japan used to be young. When it was the poster child of Asia's economies, it profited from a huge population of young adults, and not many old dependents. Result: the land of the rising sun has become the land of the setting sun.

And where Japan went, so goes the rest of the world. Europe's emerging economic basketcase is Silvio Berlusconi's Italy. Population changes have undoubtedly played a role in this. Thanks to a generation of ultra-low fertility, the last western European country with a prime minister born before the second world war now has the world's second oldest population.

The economic whirlwind of growth in other Asian tiger economies is blowing out as fertility falls and populations age. China is today young and vibrant, but the one-child policy is shutting down population growth. Within a decade, its numbers may be falling and China will have the largest ageing population the world has ever seen. Boom may soon turn to bust.

The Middle East is at an earlier stage on this demographic road. But with falling birth rates, many countries there have a bulge of young adults in their population pyramid. Governments have failed to harness this demographic potential for economic growth, but arguably those young adults drove Muslim radicalism, and now the Arab spring.

The people on the streets in Egypt, Tunisia and Syria demanding democratic reform – and manning the ragtag army in Libya – would a generation ago have been at home minding the children. Whether driving economic growth or demanding democracy, young adults are dynamic forces for change in any society. But as societies age, that dynamism dies.

And ageing is the new way of the world. You wouldn't guess it from the public debate so far about the seven billion landmark, but the average woman in the world today has half as many children as her mother or grandmother did 40 years ago: 2.5 children, compared to five. And the number keeps on going down. Dozens of countries are already below two, including Iran, Burma, Vietnam, China of course – and much of southern India, too.

In the long run, that's not enough to keep up numbers. Many expect world peak population by mid-century, and decline thereafter. Whether it happens then or later, mass global ageing is now a certainty.

I suspect that the global economic binge of the 20th century was a product of a booming, youthful population. It will die as we age. Japan's lost decade, and its likely repetition now across the western world, is perhaps the first sign. About time too. We all know that we cannot go on as we have. The planet cannot stand it. The party is over.

Link -
http://www.guardian.co.uk/environment/2011/oct/26/population-crash-economy-good-...
=======================================

Population Growth, it has been THE Economic driving force of history, but in particular, the last 200 years.

Around the year 1800, the Global Population hit 1 Billion,  it hit 2 Billion around 1930 and now, only some 80 years later, it is about to tip over at 7 Billion.

This massive & unprecedented Growth in Global Population has been enabled, largely by 3 major factors -
1) Cheap Energy - that being Fossil Fuels, predominantly Oil.
2) Innovation/Tecechnology - Humanity has undergone massive change, to keep up with our Population Growth.
3) Climate - A largely benign Global climate, over the last 200 years, has aided new Technology/Innovation & Cheap Energy, in ensuring that Food Production & the availability of fresh water, has kept up with the Global Population Growth.   

However Japan has led the way, showing what happens as Population Growth starts to decline, although they were partially supported by Global Growth, which was still continuing.

That Global Growth is now also slowing & is most likely to Peak around 2030, which is earlier than generally expected.

That said, it really can't happen quick enough, because the total Population Demand on all Products is now starting to reach tipping points, where Supply of various Products are starting plateau, before going into permanent decline.

Oil & other Fossil Fuels, are prime examples of this Peaking process and we have already witnessed huge Price swings & impacts on the Global Economy, arising from Peak Oil. 

The Truth is, it is a law of nature that everything has limits and we are now very close to finding out what some of those limits are and what that will mean to the Global & OZ Economy!
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Re: What's the Real truth?
Reply #334 - Oct 28th, 2011 at 2:02pm
 
Absolutely Nothing!


More to follow.
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Re: What's the Real truth?
Reply #335 - Oct 29th, 2011 at 10:59am
 
Watch out for China’s ‘freak’ economy


BOSTON (MarketWatch) — Forget Greece. Forget Italy. Forget “Occupy Wall Street.”

The really ominous news right now?

China.


It’s been the juggernaut carrying us all year. But Albert Edwards at SG Securities says the world’s second biggest economy is a “freak” and it’s starting to go berzerk.

Bad news.

What’s going wrong? How? Here are some troubling signs:

The housing bubble is finally bursting.

And we know how that story ends. Think: America, Ireland and half the West since about 2005. Think of Japan after 1990. Think of…well, every housing bubble in history.

The aftermath of a burst bubble is unmitigated disaster. That’s because housing affects everybody — middle-class families, developers, banks, local government. It’s the Spanish flu epidemic of real estate bubbles. There’s no containing it.

The bubble has been as big as any we’ve seen.

Massive high-rise real estate projects have erupted across the country in recent years. Visitors tell stories of giant, empty condo buildings — “ghost” cities. Prices in the major cities have skyrocketed. And newly middle-class investors have piled in.

They’ve never seen a housing bust. They assumed it will go on forever.

Ten years ago, homes in Shanghai sold for about six times an average family’s income. Today that’s 13 times. Shenzhen has gone from five times to 14 times. These are off-the-charts absurd ratios. This is a bona fide mania.

And it works fine until the music stops.


Where are we now?

Prices have started falling. Now, fewer than 46 of 70 major cities saw prices stall or decline in September, reports the National Statistical Bureau. As recently as January the number was just 10.

Analysts at DBS Vickers Securities say developers are now slashing prices to move unsold inventory, and they see a lot more to come in the next few months.

The credit bubble is imploding.

What would a housing bust be without a credit bust? This will be the mother of all implosions, too.

In the past two and a half years, China has witnessed a staggering credit bubble. Total lending has come to about $7.8 trillion.

To put this in context, that is twice the entire net government debts of the European so-called “PIIGS” — the troubled countries of Portugal, Ireland, Italy, Greece and Spain — put together.


An alarming report from Schroders said Chinese banking operates in a “twilight zone” of phony accounting and shadow money and it’s all coming apart. “Almost half of all credit creation in China is off balance sheet,” wrote the team at Schroders.

They think this situation could unravel “over the next three to six months,” producing a huge crisis with international implications. Most Chinese banks, they predict, will end up as “zombie banks.”

The canary in the coal mine might be the boom city of Wenzhou in the south. On a single day last month, nine company bosses all suddenly went on the lam to avoid bankruptcy. Nine on one day.

The stock market is signaling trouble.


It’s a mistake to assume the stock market is always correct, but generally speaking when it signals a downturn it does so pretty clearly.

And what it’s saying about China is alarming.

Chinese stock prices have slumped by 22% since July, says FactSet.

Albert Edwards at SG Securities warned that China’s long-running investment boom has no precedent and is bound to burst. “China is a ‘freak’ economy,” he wrote. “To my knowledge no other economy in history has experienced such high investment/GDP ratios and seen so many sequential years of strong investment growth.” The Asian tigers in the 1990s? Japan? Nothing comes close, says Edwards.

That boom has helped carry the world economy through the troubles of the past five years. What happens if it, too, ends?


Don’t ask.

Link -
http://www.marketwatch.com/story/watch-out-for-chinas-freak-economy-2011-10-25?p...
=============================================

http://chart.finance.yahoo.com/zs=000001.SS&t=6m&q=l&l=on&z=l&a=v&p=s&lang=en-AU&region=AU


All may not be what it seems, in the land of the great Global Economic saviours?

That said, can I suggest the Truth is, that similar applies elsewhere and what we really have now, is a giant game of "MUSICAL CHAIRS"?

LETS SEE WHAT HAPPENS, WHEN THE MUSIC STOPS?  
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Re: What's the Real truth?
Reply #336 - Nov 14th, 2011 at 5:52pm
 
Great threat of China, economist John Hewson warns


ECONOMIST John Hewson, architect of the GST, has predicted the world faces economic gloom for possibly more than a decade.

Dr Hewson, who led the federal Liberal Party in the 1990s after having worked as an economist for the Reserve Bank of Australia, the International Monetary Fund and Treasury, also warned that Australia's heavy reliance on the Chinese economy was unhealthy.

"It doesn't make good governance at all to be so deeply in debt to China," he said.

"Our minerals boom can evaporate and in any case that boom is not of much benefit to the economy generally."

Dr Hewson said "profits from mining are largely going offshore and are not staying onshore".

"One day, China will stop paying high prices for commodities, like Japan and Korea did before them."


He recommended Australia "diversify to other parts of the world, such as the Arab world".

On global economic volatility, Dr Hewson said he had never seen a "more uncertain set of factors before".

"I believe we are in for a fairly difficult period for the next five or 10 or more years," he said at an Australia Arab Chamber of Commerce and Industry function in Melbourne last Friday night.

"The chances of a credit squeeze like the one in 2008 is not high, but there is a risk of one," Dr Hewson said, describing the current global volatility as worse than the Depression of the 1930s.

For Australia, he forecast "very flat economic growth for a decade or two" and a real chance that the European banking sector's problems could land Down Under.

"It's a systemic problem and it can spread internationally, and that is where Australian banks can hit the wall."

He said the spiralling sovereign debt crisis had led to people losing confidence in governments' ability to deal with major issues.

"The failure of governments at all levels, whether it is the bureaucrats or politicians, has diminished their ability to govern in their own right," Dr Hewson said.

"That is why you see unity and coalition governments springing up everywhere, from the UK to Australia and this week in Greece, with Italy being next."

Link -
http://www.heraldsun.com.au/business/great-threat-of-china-economist-john-hewson...
================================================
Hewson, like another former Liberal leader (Malcolm Fraser), is now a little "on the nose", with some current Liberals & their supporters!

Whilst not agreeing with all of his comments, I would suggest it would be unwise for OZ to rely too much on Mining & too much on China!

Hewson also goes part way, by describing the current global volatility as worse than the Depression of the 1930s.

But, in my opinion, the Truth is that Hewson falls short and thereby does the OZ POublic a dis-service, by not saying that the Macro factors, which are currently directing the future of the Global & the local (OZ) Economy, are likely to result in a hard landing, sometime, in the not too distant future!
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Re: What's the Real truth?
Reply #337 - Nov 14th, 2011 at 6:01pm
 
I agree with his comment re the economy flat-lining for a decade or two, there just is no room for growth anywhere. Growth is over, but listen to our pollies about concentrating on a growing economy....they don't get it. Free trade agreement to grow the economy, grow, grow, grow, no, no, no.
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"When the power of love overcomes the love of power, the world will know peace." Hendrix
andrei said: Great isn't it? Seeing boatloads of what is nothing more than human garbage turn up.....
 
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