Science is based on experiment and evidence. The motto of the royal society was “Nullius in verba”, which means “Take no one’s word for it”. This motto was reinterpreted to accommodate the “evidence” for global warming. Most science journals have condition of publication that authors must comply with any reasonable request by other researchers for materials, methods, or data necessary to verify the conclusion of the article, which condition has not yet been enforced against the global warmers.
Archive for July, 2008
In his speech Governor Ben S. Bernanke observed that if inflationary expectations rise, and the Fed fails to raise interest rates correspondingly, this is unstable. He failed to make the reason for this clear, but the reason is that real interest rates are nominal interest minus expected inflation – so a rise in inflationary expectations causes a fall in real interest rates, causing massive real borrowing – as for example the housing boom and flight from money into real things, such as oil, which causes actual inflation, which increases inflationary expectations.
Which is of course exactly what has been happening. Inflationary expectations have escalated, as shown by the price of gold that international value of the US dollar, and Bernanke failed to raise interest rates correspondingly, leading to a vicious cycle, which is still under way as I post this.
Michael Yon declares the war over. He should know. He has been wandering around the place looking it over. But if we have a few more victories like this one, we will have lost, and Islam won. We cannot do Iran what we barely managed to do to Iraq, and still less can we do to Pakistan what we barely accomplished in Iraq. We are losing in Afghanistan, for it is not really a war in Afghanistan any more (that war we won long ago) but rather a war with our “ally” Pakistan.
Political correctness is that we should not drill for oil, for more oil will not solve the problem of high and rising fuel prices. Which political correctness the mainstream media firmly endorse.
There are multiple bans on oil drilling. Bush ended one of them, which had no immediate effect on oil drilling, for other bans in place. But it had immediate psychological effect. Oil prices immediate dropped about eighteen dollars, a huge drop, which the press is frantically trying to explain away with any explanation other than the glaringly obvious one.
If the politicians suspended enough bans that drilling actually became legal again, we would therefore see an immediate and considerably bigger drop in the price of oil, even before any actual drilling takes place, for sellers of oil, expecting competition to cut their prices in future, would sell oil right now, to take advantage of present high prices.
The price of oil is absurdly high, because sellers of oil observe that the high price is not leading anyone to go out and get more oil, from which they conclude that oil can only go higher still, so they might as well sit on it.
Or if not Cthulhu, Obama.
When I started writing this, McCain had the the most violently anticapitalist program of any presidential candidate, his cap and trade policy.
Obama, having started out at lunatic left in the primaries, is heading rightwards at high speed, and his “cap and trade” policy had become a mere pigovian carbon tax, making him considerably less anti capitalist than McCain.
McCain, finding himself outflanked, quietly dropped his cap and trade program altogether, bringing him to the right of Obama again, forcing me to rewrite.
The primaries produced two presidential candidates, one alarmingly anti capitalist and left wing, the other alarmingly anti capitalist, even more left wing, and anti american on top of it. I found it hard to believe that ordinary Americans would vote for either one of them.
It looks like they came to the same conclusion, because they both proceeded to head rightwards at high speeds.
But why vote for the lesser evil? Vote Cthulhu
“Governance in the Wilderness” is merely a retranslation of the same Al Quaeda document earlier translated as “the Management of Savagery” or “the Management of Barbarism”
The author concluded that 9/11 was unsuccessful, in that it failed to intimidate Americans, and the American retribution was severe. He correctly predicted that the attempt to set up a new Caliphate in Bahgdad was much premature, and would be defeated, as it was. He recommends large amounts of small scale intimidation, which prescription we see being very successfully applied in the Middle East, France, and England.