In the fine dice game of craps, that means to roll a 2, 3 or 12 giving an instant loss. Recent years global temperature date disprove the models' accuracy for the short term. Today's WSJ has an article with some facts and lots of excuses from the pro-human cause hive. You'll have to read the article for the excuses from the government paid "scientists", but here's the important parts.
WSJ: "Two years ago, a United Nations scientific panel won the Nobel Peace Prize after concluding that global warming is "unequivocal" and is "very likely" caused by man. Then came a development unforeseen by the U.N.'s Intergovernmental Panel on Climate Change, or IPCC: Data suggested that Earth's temperature was beginning to drop. ...
"Scientists who have long questioned man-made global warming cite the temperature drop that began in 2006 as more evidence the models are wrong. "They were predicting warming," says Richard Lindzen, a climate scientist at the Massachusetts Institute of Technology. Mr. Lindzen's work, regarded as leading the research challenging man-made warming, suggests that natural factors such as clouds generally inhibit, rather than intensify, greenhouse-gas warming. He wrote in a recent article that the study from the U.K. admits that the kind of climate model cited in the U.N.'s IPCC report "did not appropriately deal with natural internal variability, thus demolishing the basis for the IPCC's iconic attribution" linking greenhouse-gas emissions to climate change. He added that "even when all models agree, they can all be wrong." "
The earth IS cooler on average that in 2005 and no major computer models predicted that FACT. If they can't predict the short term, then how can they predict the long term, when every year is a sequential time evolution of the prior year ? Obviously the models omit major physical processes. Why are they a basis for any policy ?
Money, greed, fanaticism. The usual causes of major FUBARs.
Big rally - a reversal of the prior day. All those sold at the same time - as usual - realized that perhaps they were wrong and barged back in when the US GDP number came out better than expected at a solid 3.5% growth. If this market gets a good - or not so bad - jobs number next Friday, a big rally will ensue. Plenty of real buyers have picked up cheap stock from the beefers on these dips and the underinvested will panic.
Blabberg must read this blog. They were pointing out the analogies to the 1974 market this morning. That comparison was printed here months ago.
This AM I'll re-calculate positions in Krypto Fund to see if any re-allocations are necessary. Last evening, Fido Fund stock CLF reported good numbers, crushing estimates on both earnings and revenues. They are seeing increased demand from iron ore and metallurgical coal customers.
Word of the Day
"Threnody" - noun (also threnode) [$10]; plural threnodies / threnodes
Threnody means a lamentation, especially on a person's death; 2. a song of lamentation.
Sentence: In my lifetime I expect to hear threnodies on the death of the theory of human caused global warming. That false theory will die from an endless series of stakes of facts driven into its greedy heart as the earth reality bifurcates from the models' false trends.