The Air Vent tells us that China saved the world, which is true, but China saved the world because of what bloggers did. The enemy plan was to use global warming to roll back science, technology and western civilization.  Copenhagen was to have established a “world climate treaty organization†which would exercise centralized control over all the worlds economies, thereby avoiding that inconvenient embarrassment that ensues whenever socialist economies face comparison with capitalist economies. Someone released the Climategate files. I …
Category: economics
Official lies
Official statistics have gone the same path as peer review. Obama holds a jobs conference, and then immediately after Obama’s cheerful jobs conference, the BLS tells us that there are fewer unemployed, and more jobs. Supposedly there are over a million more jobs this year than the same period last year – yet withheld income for salaried employees and payroll tax have fallen 19% compared to the same period last year. Private employment surveys, x, x, such as ADP and …
Tony Abbot takes aim at Copenhagen
Tony Abbot made news around the world, by unseating Malcolm Turnbull as leader of the Australian opposition over Climategate, and then stalling the carbon tax.  By stalling the tax, Abbot challenged the Prime Minister to a double dissolution election, which would have been a referendum on the carbon tax. By backing down from that challenge, the Prime Minister finds himself empty handed in Copenhagen, making it much harder to reach agreement. Abbot concludes that global warming alarmism is not, …
Provenance of the surface temperature graph of doom.
“So what the hell did Tim do?!! As I keep asking.†The IPCC blessed the results of Hadley-CRU. Hadley-CRU blessed the results of the religous fanatic PhD student Tim Mitchell, and, as is clear from the Harry Readme file, no one checked how Tim produced these remarkable results. Harry, in what is now the world’s most studied document on global warming, the Harry_Read_Me.txt file, asks “So what the hell did Tim do?!! As I keep asking.†How then did a …
climategate 1
“Hide the decline†In this scandal, we see antiscientific attitudes of the IPCC, the big government branch of the big science conspiracy Hadley CRU, a coalition of big government and big science to take control of your life, with the intent of preventing you from making a living in an “unsustainable†way. And if the earth cannot support so many people “sustainablyâ€, that is your problem, not their problem. The men revealed by the emails knew what the truth must …
The cause of the crisis 4-3
In the cause of the crisis, I addressed fraudulent ratings. Bill draws my attention to a report on securitized loans issued by the New York Fed in which they examine the somewhat surprising ratings given to New Century Financial: You might consider blogging this absolutely hilarious paper from a couple of people at the New York Fed. The good stuff starts on page 14, where we learn about a typical pool of securitized mortgages originated by New Century Financial. There …
Finally, pirates resisted
Somali pirates attacked the Maersk Alabama on Wednesday for the second time in seven months and were “thwarted by private guardsâ€. It appears that “thwarted†actually means “killedâ€, which is the only effectual way to “thwart†pirates. This will have the effect that pirates will cease to attack ships flying the American flag, which a considerably better result than I expected with Obama in charge. This action by captain Rochford of the Maersk was of course completely legal under international …
US inflation rising
The latest official cpi is 0.3% rise for the month of October, which, annualized, is 3.6% – higher than is desirable, high enough to cause moderate damage to investment and employment,but not high enough to be a serious problem. Actual inflation, in my doubtless biased judgment, is probably around seven percent, high enough to be a serious problem, high enough significantly damage investment and cause substantial unemployment. The government continues to hold real interest rates negative for privileged and well …
Productivity leaps?
Since the holes are valued at cost, and filling them in also valued at cost, and since the peasants working in the Lord sector are well paid, better paid than ordinary peasants, though not quite as well paid as the lord and his retainers, and since the Lord and his retainers also took a modest pay rise for arranging all this prosperity, total value produced, total GDP is now a whopping eight hundred and fifty thousand sacks of wheat, a fourfold rise in GDP. One of the Lord’s retainers is an economist, who gets a Nobel prize for explaining that the Lord has done such a good job.
Nobel prize for corruption and fraud
The Nobel for economics is being awarded on the same basis of as the Nobel for peace.