WC Varones

Don't lend your hand to raise no flag atop no ship of fools

Best Bill Cosby impression ever!



Original footage courtesy of BBC: Seals raping penguins.

In exchange for Obama unilaterally ordering cuts to greenhouse gas emissions, China agrees to keep increasing emissions for 15 years

CNN's Matt Hoye is an idiot, mindlessly regurgitating White House talking points.
At the end of the APEC trade summit in China, U.S. President Barack Obama announced a climate change agreement with Chinese President Xi Jinping that would cut both countries' greenhouse gas emissions by close to a third over the next two decades.


Under the deal, the United States would cut its carbon emissions between 26-28% -- from levels established in 2005 -- by 2025. China would peak its carbon emissions no later than 2030 and would also increase the use of non-fossil fuels to 20% by 2030.


[...]


A senior administration official calls the goals both "ambitious and achievable," but also acknowledged that U.S. domestic politics could put a damper on the announcement. Saying "leading climate deniers" in the GOP might try to stop the initiative, the official hinted the President may act alone if necessary.
China promising to do something 16 years from now in exchange for Obama issuing executive orders today is bad enough (and of extremely dubious enforceability), but Hoye's opening two paragraphs flatly contradict each other. How does China continually increasing emissions through 2030 "cut both countries' greenhouse gas emissions by close to a third over the next two decades?"

China is already a much larger greenhouse gas producer than the U.S., so any hypothetical cuts in the U.S. will be dwarfed by the increases that Obama negotiated for China.

P.S. China is dumping thick, black smog into its cities which causes serious health problems and causes public discontentment with leadership. Then when they don't meet smog reduction goals, they just hide the data. Do you really think China gives a rat's ass about a little clean, naturally occurring CO2?

21st Century's most prolific mass murderers agree: there's no substitute for gold

First it was bubble-blower extraordinaire and progenitor of his own prolific Body Count, Alan Greenspan.
TETT: Do you think that gold is currently a good investment?

GREENSPAN: Yes... Remember what we're looking at. Gold is a currency. It is still, by all evidence, a premier currency. No fiat currency, including the dollar, can match it.
Now it's Greenspan's fellow mass murderers ISIS (or ISIL, or IS, or Islamic State, take your pick):
ISIS wants to introduce its own currency and plans to bring back solid gold and silver dinar coins, it has emerged.

The Middle East terror group apparently wants to introduce its own Islamic currency as part of its attempts to solidify its makeshift caliphate.

Militants are said to want to bring back the original dinar, which is an ancient currency from early Islam, and religious figures in Mosul and Iraq’s Nineveh province have apparently announced its return in mosques.

The currency known as the dinar, which once consisted purely of gold and silver coins, is today used by a variety of countries, but the coins are created from different materials to the originals.

However, the jihadi group is understood to be planning to return to the original gold and silver coins, which were first introduced during the Caliphate of Uthman in 634 CE.

Usually it's the other way around

Peters beats DeMaio.

Californians want to slit their wrists

Wow.

Check out the map of people's life satisfaction by city.



There's obviously a huge weather effect, with people being much happier in the sun belt and miserable in the cold northeast, but California manages to create misery even with the country's best weather and beautiful geography!





Therefore, it will not happen?

GOP Senate Takeover Would Put Fed Under Microscope
A Republican takeover of the U.S. Senate on Election Day would promise increased political turbulence for the Federal Reserve.

Financial executives say a GOP-led Senate would ratchet up congressional scrutiny of the central bank's interest- rate policies as well as its regulatory duties as overseer of the nation's largest financial firms. Republicans haven't controlled the Senate since before the 2008 financial crisis and recession, which put a spotlight on the Fed and its powers.

"If the Republicans take control of the Senate and thus have control of both the House and the Senate--two words for the Federal Reserve: Watch out," said Camden Fine, president of the Independent Community Bankers of America.

Leading the GOP wish list in dealing with the Fed would be legislation to open the central bank to more scrutiny of its interest-rate decisions, using congressional audits of monetary-policy matters that Fed officials strongly oppose. Many Republican lawmakers also want to require the Fed to use a mathematical rule to guide interest-rate decisions or shift its focus more directly to inflation rather than inflation together with unemployment. All of that would come on top of heightened bipartisan scrutiny of the Fed's regulatory moves.
Nah, even if the Republicans take the Senate, I'm sure the Fed will find the new majority can be quite flexible...

Chris Farley lives!



Zimbabwe Jim to the rescue

Two weeks ago, we pointed out that the only thing making stocks go up was Fed money-printing, and asked, "Would asset price stagnation or declines bring Janet back to the Ctrl+P button?"

Magic 8-ball says, "It is decidedly so."
The Federal Reserve should consider delaying the end of its bond purchase program to halt the decline in inflation expectations, said St. Louis Federal Reserve Bank President James Bullard.

Loose Janets sink planets

Even the dummies at the IMF are catching on to the idea that you can't solve all the world's problems by printing infinite amounts of money.

NYT:
As economists and politicians heap pressure on global central banks to continue, and even escalate, their unusually loose monetary policies in order to spur global demand, the fear that these measures could provoke another market convulsion is spreading.

“A major lesson of the last crisis is that accommodative monetary policy contributed to financial excesses,” said Lucas Papademos, a former vice president of the European Central Bank. “We are pursuing a similar policy for good reason. But there are limits — if you do this for too long, risks in the financial markets will materialize.”

[...]

“What we see is extraordinary risk-taking in the financial markets while in the real economy risk-taking has taken a holiday,” said Claudio Borio, a senior economist at the Bank for International Settlements, a clearinghouse for global central banks.

Generalissimo Essen P. Fivehundred is still dead

A year and a half ago, we posted He's dead, Jim, showing that the ratio of the stock market to the Federal Reserve's balance sheet had absolutely flatlined, meaning the correlation of stock prices to Dirty Fed money-printing was essentially perfect.

Now with the Fed promising to halt QE this month, we thought an update would be highly relevant.

The verdict?







Still dead!  The stock market has flatlined down 75% from its 2000 peak in Fed balance sheet terms.

Does the impending end of QE mean the end of asset price appreciation?  Would asset price stagnation or declines bring Janet back to the Ctrl+P button?

Bill Gross's last PIMCO Investment Outlook

... is a good read. It acknowledges the great credit Ponzi, that our economy is entirely dependent on issuing new debt to pay interest on old debt.  It's something that everyone who understands macroeconomics knows, but it's rarely spoken in polite company.

Read it here.  And in case PIMCO takes it down after Gross's jumping ship just before being made to walk the plank, here's the Google cache.

$3 Obama raffle

Stay classy, Democrats!



Full text:


Hello --

I just wanted to send you a note to follow up on some of the messages you've received from us about our new contest. Within the next couple of days, I'm going to actually book the flights for whomever wins this contest and their guest. I'll be able to tell them when they'll leave, where they'll be sitting, and who is going to pick them up from the airport -- and when they'll meet President Obama.

I'll take care of everything. All you have to do is enter for your chance to be that person.

If you've saved your payment information, your donation will go through immediately.

QUICK DONATE: $3

QUICK DONATE: $10

QUICK DONATE: $25

QUICK DONATE: $50

QUICK DONATE: $100

Or donate another amount.


I love being able to lend a hand with the winner's big day. This trip is pretty cool, too: We're flying one supporter (and a guest!) to D.C., putting them up in a hotel, and sending them to our last big event before the election with President Barack Obama, First Lady Michelle Obama, Vice President Joe Biden, and former Secretary of State Hillary Clinton.

Sounds great, right? Right!

Chip in $3 or whatever you can now to be automatically entered, and hopefully you'll be the one whose flight I'm booking:

https://my.democrats.org/Democrats-in-DC

Enjoy the rest of your day!

Emily

Emily Gottschalk-Marconi
Democratic National Committee
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