Global Wrming, Debt, and Risk

David Smith presents a good review article of the Stern report published in the Sunday Times. The essential elements are: We have more proven Reserves of Oil than have been used so far, though it might be extremely hard to recover; the second element stands as the Stern report only actually claims a 2.2% loss of global gross domestic product per head by 2200–not 20% of GDP any time soon, with only a 0.9% effect on per capita GDP by 2100; the Stern report of 1% of GDP spent to eliminate global warming from human economic practice is horribly undervalued–it being at the rock-bottom range–absolutely discounting Rent-seeking and Profit-taking. It is a good analysis, and should be read carefully.

The concept of Global Warming seems to be seriously overused of late, and human practice may be the slightest of the causation of it. This Author would like to possess the statistical data of weather patterns in the period some fifty years prior to the Little Ice Age. I have the suspicion We may be in the midst of a periodic weather pattern for the planet, which might extend outward towards the Sun; it might be building to a major Solar flare before a significant Cool-down at Sun surface. This though, like the Stern report, remains purely theoretical.

Cactus at Angry Bear comes in with another good Post on which Presidents actually managed to increase the National Debt among the last 10 Presidents–Ford, Reagan, George H. Bush, and George W. Bush. He also presents the fact that the geometric mean in economic growth of their four Presidencies was only 1.64%, while the other Presidents managed to achieve increases of real economic GDP growth per capita of 2.32% per year. This is the best argument so far for stating acquisition of National Debt is harmful for the economy.

Another danger is represented by economic integration, even though it promises economic reward. The Blackout in Europe, like Our own, has suspicions flying; but cannot really be traced effectively. A simple sign warning that global economic integration overall presents it’s own set of hazards. Government, Business, Economics, Technology, Education, and Religion–all require some degree of Local control, else the Demons arise and ravish the countryside. lgl