Debt Rattle September 19 2015
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Arthur Siegel Bethlehem-Fairfield shipyards, Baltimore, MD May 1943 • US Stocks Tumble As Fed Sows Fear And Confusion (MarketWatch) • The Fed Has To D
[See the full post at: Debt Rattle September 19 2015]The Feds mandate refers the Humphrey Hawkins law passed in 1978 which directs the Fed to adopt policies which promote job growth, low inflation and a stable currency. It should be noted that there are 3 mandates but the last, a stable currency is forgotten and so it’s now always called the dual mandate.
Of course the goals are contradictory and on a deeper level the goals are beyond the powers of the Fed deliver. So politicians gave the Fed mandate to do things beyond its powers and it enshrined monetarism and the Fed as the all powerful tools to regulate the economy. This was great for politicians since it relived them of making hard choices and fighting hard political battles. It was also great for the Fed because it obviously it gave it power. It was great for orthodox Economics for the same reason, it gave them power. To this day, despite 37 years of evidence that the Fed cannot fulfill its ‘mandates’ you will never hear anyone suggest that in fact it is impossible for the Fed to fulfill them. The orthodoxy is all powerful.
Humphrey Hawkins was and is a bit of foolish make believe given the power of law. The law itself didn’t cause our subsequent problems but rather marked an official intellectual/cultural/political turning point which ushered in the current era. In large part because it marked the retirement of the traditional Liberal elites from pushing back against ‘free market capitalist’ ideology and ushering in neo liberalism as our guiding philosophy.
Ah, but here, you see, is THE answer. No, really.
https://www.bbc.com/news/health-34288659
It is actually within our technological ability now – to make humans – who are truly green; i.e. photosynthetic themselves. And make it heritable. Your slaves just need to work in the sun much of the day, and a not inconsequential amount of the food they need will be provided by the sun. No kidding. And yes; it’s been mentioned.
Syrian refugees enter and transit Russia easily, though it costs, arriving at the Norwegian border, where pedestrians are restricted, vehicles are permitted, and drivers carrying refugees are subject to human trafficking charges.
The solution is to ride a bike across this Arctic border. It’s legal.
Bikes are piling up on the Norwegian side.
🙂
They should keep those bikes, really…
https://tribune.com.pk/story/955501/fleeing-war-syrian-refugees-bike-across-arctic-border/Mandate: an especially ugly word much admired by schemers who insinuate themselves into government, communications and financial institutions in bureaucratic or advisory capacities and through intrigue generate game rules and attitudes that enslave unwitting populations. Intimately connected with the concept of “power”, especially corrupted power.
Occam confirmed: Robert Prechter in his latest Elliott Wave Theorist: if DJIA falls significantly below 15670, forget about another short or intermediate term top.
“Doug Smith, the Met Office’s predictability research manager, told AFP that data for the world’s average surface temperature showed “a clear reduction recently”
Here is what Martin Armstrong had to say:
“US Weather CoolingThe National U.S. Historical Climatology Network (USHCN) monthly temperature updates have been discontinued. The official CONUS temperature record is now based upon nClimDiv. USHCN data for January 1895 to August 2014 will remain available for historical comparison. However, one must wonder if the data, which was demonstrating a cooling period rather than global warming, was conflicting with political agendas to raise taxes based upon false information.”
It will be interesting to see – if I live long enough – the possibility of global cooling coming about.
“Russian scientist argues sun, not man, heats Earth”
https://www.wnd.com/2014/09/new-data-backs-ice-age-prediction/
Frankly, they lie about pretty well everything – price inflation, unemployment, 9/11, MH-17, Ukraine, Syria, Iraq, Libya etc – so I don’t see why global warming cannot be another of their fabrications. The climate has always changed anyway.
Of course the sun heats the earths surface. It should go without saying but I will say it that the amount of input is a prime determinate of the globes temperature. After that how much of that heat is radiated back into space is a determinant of global temperature. Atmospheric density and composition determines the rate of radiation away from a planet. Increased CO2 in the atmosphere inhibits that radiation. The physics of this is not as straight forward as one might think but it is still simple physics. The issue of global warming from increased atmospheric CO2 is of no interest to physicists because it is a settled fact of physics.
Climate Science is primarily about measuring the amounts of CO2 and really all other inputs into the atmosphere from historic data and correlating that with temperatures and making predictions. That is a vastly complex job which serves to satisfy the curiosity of those involved which generates a lot of mental heat but very little light. As an alt economics student I’m skeptical of Climate Science models. The whens and how much of global climate are for me of little interest because it’s unknowable so I’m with the physicists. It’s getting warmer because of increased CO2 in the atmosphere.
Next question.
Martin Armstrong is a kook. A glorious one perhaps, but a kook.
“The physics of this is not as straight forward as one might think but it is still simple physics.”
I beg to disagree, it is not simple physics by a long stretch.
BTW, the solar “constant” varies by 50 times the total energy expenditure by humankind. Additionally, the spectrum/frequency of the radiation coming from the sun can vary by 20% for some frequencies. This has a profound effect on the stratosphere. The Earth radiates far more energy than it receives from the sun – due to radioactive decay at its core. This “extra” heat largely comes out in the oceans – where the crust is at its thinnest. It goes without saying that these simplistic climate models do not include any of these factors.
It is much easier to sell the single variable – CO2 – model to the credulous public.
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