By Neil Halloran: A Skeptical Look at Climate Science

https://twitter.com/econundertow/status/1414931280056176663

Nice rant from Mac10 today. It seems he’s coming out the closet and is worried about much more than the stock market bubble.

https://zensecondlife.blogspot.com/2021/07/bullshit-is-driving-global-warming.html

Bullshit Is Driving Global Warming

These wildfires and record temperatures across the globe are another widely ignored warning for the days to come. The cost of this delusion will be measured not in dollars, but in carbon units…

COVID was the wake up call, so the Idiocracy hit the snooze button and went ALL IN risk assets at the end of the longest cycle in U.S. history. Gamblers to the very end.

The leaders of this denialist paradise are the most corrupt human beings in U.S. history. They’ve profited mightily from the fact that societal moral collapse has been front-running their death spiral of depravity. And who to trust in this human disaster but the same assholes and policies that got us into it in the first place. I predict that the days of accountability are fast arriving for these serial psychopaths.

We face an epic meltdown not just in markets but in human mental health as well. The self-indulgent consumption lifestyle has left The Lonely Crowd cleaved of any and all meaningful social connection. The end result is mental health breakdown, suicide, and addiction. Rampant selfishness is leading to societal disintegration. THIS is exceptionalism. Guns don’t kill people, psychopaths with guns kill people. What should we resolve the guns or the psychopaths, let’s vote for neither. The right is seduced by this notion that nothing has changed and we can easily revert back to the good old days, if we only had the will to do so. Unfortunately, EVERYTHING has changed. Everything has been denatured over the past decades. Which means that the good old days no longer exist in the current paradigm. We must adapt to survive. We cannot live in a Blade Runner reality soundtracked with country music.

Adaptation means that less is more. We must no longer strive for competitive self-destruction. And yet, the system demands that we be fed into the same old meat grinder as usual. Today’s super idiots must obey the prime directive. The only vestige that remains of the past is the imperative to recycle proven failure.

I personally don’t worry about the carbon level anymore because this sequence of events will lead to the sharpest drop off in carbon output in global history. In addition, I don’t concern myself with societal meltdown, because the Deep State has far more weapons and ammunition than their would be adversaries. In summary, I am not paranoid, I am enlightened. Because finally we see the Creator’s Plan coming together.

And it’s not carbon neutral.

The Tyee is one of the better new outlets. Nevertheless they of course do not mention the need for population reduction (fewer new homes) nor consumption reduction (smaller homes) so that we cut fewer trees.

When I was a kid in the 70’s a 1000 sqft home was normal, now the normal exceeds 2000 sq ft. We are not happier or more comfortable today. We just consume more to keep up with our neighbors.

The Climate Disaster Hidden in BC’s Forests

The province doesn’t count forest emissions in its global warming plan. That’s a big, dangerous mistake, say advocates.

Here are two key words that have been largely left out of the broiling debate around British Columbia’s old-growth forests: carbon emissions.

Even in the recent forest policy update, the provincial government only mentioned carbon emissions twice. And that was to say forests suck up and store carbon, which environmental advocates warn doesn’t tell the whole story.

By B.C.’s own reporting, forests are the largest emitters of greenhouse gases in the province — 23 per cent larger than the total emissions from the energy sector.

To talk about forests while ignoring carbon emissions is “climate denialism,” says Torrance Coste, senior campaign director for the Wilderness Committee.

When B.C. reports its official carbon emissions, that number excludes emissions from forests. Coste says that’s a huge problem, because “emissions associated with forests in some years surpass B.C.’s total emissions. Which is staggering. It’s like a second B.C. we don’t count.

https://thetyee.ca/News/2021/06/24/Climate-Disaster-Hidden-BC-Forests/

Trillions are sloshing in and out with the daily tides.

I hope the baffles in the ballast tank hold.

This is not normal. Notice that the idiots in mainstream news ignore (aka deny) this.

This morning, the Fed sold a record $992 billion in Treasury securities in exchange for cash, via overnight reverse repos (RRPs), to 74 counterparties. Yesterday’s overnight RRPs matured and unwound this morning, and were replaced, plus some, by today’s RRPs. You can practically hear that giant sucking sound of cash that the Fed is draining out of the financial system.

These cash pressures originated as a result of the Fed’s crazy and continued money-printing binge. Obviously, the real solution to the cash pressures would be to stop QE and then begin unwinding the assets on the Fed’s balance sheet. But that would be too radical a step to take. The Fed has mopped up $1 trillion in short-term cash via the repo market.

https://wolfstreet.com/2021/06/30/feds-reverse-repos-spike-to-1-trillion-cash-drain-undoes-8-months-of-qe/

Good comment by CTG @ OFW.

https://ourfiniteworld.com/2021/06/18/how-energy-transition-models-go-wrong/comment-page-7/#comment-301446

In the 1970s, when oil peaked in USA, extraction technology has to go into overdrive to extract out the difficult-to-extract oil. If there is no excessive debts or money printing, then physical limits will be hit. It is not a surprise that Nixon took USD off the gold standard at the time when oil peaked in USA.

With debts or money printing or financial shenanigan, an oil company can use that freshly printed money to improve the technology of oil extraction without actually hitting the physical limit. It is a substitute for high EROEI because money is not detached from its physical backing of “promise of future productivity”. The company used the money borrowed to improve the technology to extract more oil. There is no more underlying claims for the money YET (until the day it does, which is actually “now”). The company can either go bankrupt and the debts are extinguished. Investors lost money and the claims towards that “future productivity” is gone. However, that technology has been invented and used by someone else.

If that company did not collapse but flourished, then, with inflation, the debts can be paid off and the “claims for future productivity” will be postponed to a date in future (which is “now”, by the way).

A debt can be sold and passed around in a daisy chain through banks, pension funds, etc. since 1970s, financial engineering was and is crucial to the extension of BAU. Government closing a blind eye towards financial accounting trickery or changing the goal posts help move the world forward on a “financial engineering or accounting” basis since 2008. There is no productivity growth other than debt-related or debt-fuel “growth”. Debt is the center of everything now. Debt is a burden for future generations. Future generation of the 1970s is the present generation. It is a millstone around the neck of future generations (which is the present generation). For every dollar that is there, probably 50-80% are used to payoff debts or roll over new debts. Until a point where it is not possible anymore (90%+ perhaps now?)

At this point where 50%-90% (??) of every dollar is used to pay off the debts, what is the use of cheap energy? It will cause more problems than solving it.