The Left says we need to combat Manmade Global Warming even if the Theory of Global Warming is Wrong

Posted by PITHOCRATES - April 21st, 2014

Week in Review

The Democrats say manmade global warming is real.  That the science is settled.  And anyone who denies this is a fool.  So the danger of manmade global warming is real and time is of the essence.  To save the planet.  Destroy the economy.  And our way of life (see Examiner Editorial: Governments resolved to stop global warming even if it doesn’t exist posted 4/21/2014 on the Washington Examiner).

PJ Media’s Tom Harris recently noted that global warming advocates ought to heed that warning. Harris’ observation followed release of the latest report of the United Nations’ Intergovernmental Panel on Climate Change. The IPCC cried that fossil fuel energy use around the world must be reduced by as much as 70 percent by 2050 to avoid the apocalyptic “death, injury and disrupted livelihoods” caused by man-made atmospheric warming.

“This will require massive cuts in our use of coal, oil, and natural gas, the sources of 87 percent of world primary energy consumption,” Harris said. It will also require quadrupling the amount of energy generated from renewable and nuclear sources, plus widespread adoption of carbon capture and storage technology that doesn’t even exist yet.

So, to fight global warming will require the kind of spending it took to win World War II.  The cost of energy would soar and leave people with little left to spend on their families.  Crippling our economy.  While leaving us with far less reliable electric power.   Making brownouts and blackouts commonplace.  Changing our lives greatly.  And what will we get in return?  Not a whole heck of a lot.

But the IPCC is crying wolf, according to the Nongovernmental International Panel on Climate Change, a voluntary international assembly of scientists and scholars brought together by the Heartland Institute, an American think tank. The NIPCC’s goal is to “present a comprehensive, authoritative, and realistic assessment of the science and economics of global warming” independent of the political and economic interests that inevitably drive the analyses of governmental entities like the UN’s IPCC.

The NIPCC’s bottom line is that atmospheric warming comes and goes over time, with average temperatures actually declining over the past 17 years. As a result and contrary to those crying wolf on global warming, the earth’s ice cover “is not melting at an enhanced rate; sea-level rise is not accelerating; and no systematic changes have been documented in evaporation or rainfall or in the magnitude or intensity of extreme meteorological events.” In fact, warmer temperatures and increased carbon content in the atmosphere can be beneficial to human beings, animals and plant life, “causing a great greening of the Earth,” according to the N-GIPCC.

Yes, warm is better.  After all, no one bitched when global warming caused the glaciers to recede and end the ice ages.  Because where the glaciers receded life took to that once frozen wasteland.  And when the glaciers from the greatest ice age (ending about 635 million years ago) receded after nearly covering the planet in ice man wasn’t even using fire yet.  In fact, the greater apes man evolved from didn’t arrive until about 15 million years ago.  After the great glaciers receded back from the equator.  So when the planet warmed and pushed back those glaciers it sure wasn’t man doing it.  Which means if you believe in evolution you can’t believe in manmade global warming.  Because the planet warms and cools.  And has been doing so far longer than man has been around.

Tim Wirth, the former congressman and present vice chairman of the U.N. Foundation, said “even if the theory of global warming is wrong, to have approached global warming as if it is real means energy conservation, so we will be doing the right thing anyway in terms of economic policy and environmental policy.” No matter that jobs, growth and comfort will be lost. Keep that in mind next time President Obama claims Americans must spend billions of tax dollars on “green” energy because global warming is “real.”

So these great costs are necessary even if they are wrong and manmade global warming is not settled science.  Because crippling our economy and causing power brownouts and blackouts are a good thing.  Why?  One reason.  It empowers government.  To further intrude in how we live our lives.  Which is the only thing battling manmade global warming does.

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Carbon Emissions in the United States fall to levels not seen since 1963

Posted by PITHOCRATES - April 14th, 2014

Week in Review

The United Nations Intergovernmental Panel on Climate Change (IPCC) recently released a new climate report.  And it contained some of the most alarmist language yet used by the IPCC.  So alarmist that an author removed his name from the report.  Not because he disagrees with the underlying science.  But because the “inflammatory and alarmist claims delegitimize the IPCC as a credible and neutral institution.”  And why was the language so alarmist?  Because the fury of global warming was going to rain hellfire down upon us unless we acted immediately to curb our carbon emissions.  For the level of our carbon emissions was growing ever more perilous.  Taking us to the point of no return. Again.  So immediate action was required.  Hence the alarmist nature of the report.

Some of those in the alarmist camp even want to go as far as jailing climate change deniers.  Because it is these people that are allowing the carbon polluters to pollute with abandon.  Because people believe them and their science.  That man isn’t causing global warming.  It’s because of these people that America never signed the Kyoto Protocol.  And because they have not implemented economic strangling carbon reduction policies (such as a carbon tax) the United States is one of the driving forces of manmade global warming.  Because of their carbon emissions.  Of course, the data doesn’t agree with this (see US CO2 Emissions Per Capita Are At Their Lowest Levels In 50 Years by Rob Wile posted 4/14/2014 on Business Insider).

And the following chart from AEI’s Mark Perry shows the U.S. has been making significant gains in carbon dioxide reduction: At about 17 tons per capita, we are at a level not seen in half a century. Perry writes:

CO2 emissions per capita in the US increased slightly last year, but were back to the same level as in 1963 (50 years ago), and 23% below the peak in the early 1970s, thanks to the boom in shale gas, which has displaced coal for electricity generation.

Back to what it was in 1963?  You know what that means?  We are at risk of another ice age.  For on Earth Day in 1970 the climate scientists were warning us to store food to survive the coming ice age.  Which was coming.  For the planet had been cooling for some 20 years.  And if those present trends continued it was death by cold.  Just like they are saying now that if present trends continue it will be death by warm.  Even though there is less carbon in the atmosphere than when they were predicting death by cold.  Which is why there are a lot of climate change deniers.

Then again, perhaps man is causing global warming.  By removing so much carbon from the atmosphere.  For it was cooler when there was more carbon floating around up there.  It would explain why that when a volcano throws up the same stuff a coal-fired power plant does it causes cooling.  While the coal-fired power plant causes warming.  Even though it’s pretty much the same stuff they’re putting into the atmosphere.  Which is another reason why there are so many climate change deniers.  For it appears whether carbon will cause warming or cooling depends on the day that carbon is having.  For it appears carbon has attitude.  And is moody.  Which is the only way it can support such contradicting conclusions.

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Even a Climate Scientist finds the Alarmist IPCC Report too Alarmist

Posted by PITHOCRATES - April 6th, 2014

Week in Review

The United Nations Intergovernmental Panel on Climate Change (IPCC) recently released a new climate report.  And based on that report we’re all doomed.  Melting sea ice, thawing permafrost, floods, droughts, heat waves, cold waves, rain storms, blizzards, etc.  In other words, weather.  Weather the IPCC apparently believes is unusual.  Caused by manmade global warming.  Of course one wonders what they would say caused the glaciers to recede back from the equator to the poles long before man was even around to cause warming.  Or why ice at the poles now is normal when they were once ice-free.  Man wasn’t around polluting the planet back then.  But you know what was around back then?  The sun.  Sunspot activity could have been causing the Pacific Decadal Oscillation back then as it is now.  But one thing is for sure.  Man couldn’t have melted the polar ice caps completely.  For we’d have to discover fire before that could have happened.

An IPCC insider pulled his name from this report as he did not like the alarmist nature of it.  And the fact that they were very selective with their climate modeling (see IPCC Insider Rejects Global-Warming Report by Alec Torres posted 4/3/2014 on National Review).

Richard Tol, a professor of economics at the University of Sussex in the United Kingdom and an expert on climate change, removed his name from the latest Intergovernmental Panel on Climate Change (IPCC) report. While he considers much of the science sound and supports the underlying purpose of the IPCC, Tol says the United Nations agency’s inflammatory and alarmist claims delegitimize the IPCC as a credible and neutral institution.

“In the SPM [Summary for Policymakers], and much more largely in the media, we see all these scare stories,” Tol tells National Review Online. “We’re all going to die, the four horsemen of the apocalypse . . . I felt uncomfortable with the direction [the IPCC report] was going…”

He took his name off of the final summary because he felt the IPCC did not properly account for human technological ingenuity and downplayed the potential benefits of global warming…

One prediction has it that crop yields will begin to fall dramatically, a statement “that is particularly not supported by the chapter itself,” Tol says. “What it completely forgets is technological progress and that crop yields have been going up for as long as we’ve looked at crop yields.”

Beyond misleading statements on agriculture, Tol says the IPCC report cites only the maximum estimate for how much it will cost to protect against sea-level rise associated with current climate-change predictions…

The report also stresses that global warming will cause more deaths due to heat stress, but ignores that global warming would reduce cold stress, which actually kills more people than heat stress each year.

Tol is far from a conspiracy theorist, but he nonetheless thinks the IPCC has built-in biases that keep it from adequately checking alarmism.

First, there is a self-selection bias: People who are most concerned about the impact of climate change are most likely to be represented on the panel. Next, most of the panelists are professors involved in similar academic departments, surrounded by like-minded people who reinforce each other’s views. Those views are welcomed by the civil servants who review the report, because their “departments, jobs, and careers depend on climate being a problem,” Tol says.

This is the problem with climate ‘science’.  It is not very scientific.  Science is the competition between theories.  And the never-ending attempt to disprove previously held theories.  This is what makes good science.  For theories that hold up to every attempt at disproving them leave fewer and fewer theories that could possibly explain the data and experimental results.  But when you exclude those opposing theorists from the process the ‘science’ is decidedly one-sided.  And the ‘scientists’ are more cheerleader than scientist.

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Real Scientists don’t take a Vote to Settle Science

Posted by PITHOCRATES - March 15th, 2014

Week in Review

What is science?  Do scientists gather and vote on theories?  And do those theories become settled science?  Or is it something more like this (see Japanese Institute Weighs Retracting Stem-Cell Studies by Alexander Martin and Gautam Naik posted 3/10/2014 on The Wall Street Journal)?

The co-author, Teruhiko Wakayama of Yamanashi University in Japan, called Monday for the retraction of the findings, published in late January in a pair of papers in the journal Nature.

The papers drew international attention because they held out a safer, easier and more ethical technique for creating master stem cells. These cells, which can be turned into all other body tissues, promise one day to transform the treatment of various ailments, from heart disease to Alzheimer’s.

But shortly after the papers appeared, Japan’s Riken Center for Developmental Biology, where the work took place, began to investigate alleged irregularities in images used in the papers. Separately, many labs said they couldn’t replicate the results…

Like several other researchers, Dr. Wakayama said he hasn’t yet been able to reproduce the results. “There is no value in it if the technique cannot be replicated,” he said.

Science is more like this.  It’s aggressive and relentless.  Scientists work hard to replicate previous results.  And they work hard to disprove past theories.  The key to science, then, is never accepting anything as settled.  No.  Everything is questioned.  Forever.  That’s real science.  Unlike climate science.  Where people apparently use voting in lieu of vigorous experimentation to replicate results or disprove past theories.  So anyone stating that manmade global warming is settled science is not a scientist.  Or a truthful person.

All the people who claim manmade global warming is settled science are either people who want to greatly expand the power of government over the economy.  Or they are just grossly ignorant.  These ignorant people, of course, help those who want to greatly expand the power of government over the economy.  Which is why we should not listen to politicians when it comes to science.  Or ignoramuses.  For once upon a time the polar icecaps weren’t frozen.  And at another time glaciers reached down from the poles towards the equator.  Long before man ever put any carbon into the atmosphere.  Climate changes.  And it has changed a lot more drastically before man appeared on the scene.  So anyone claiming man is causing this is either a liar.  Or an ignoramus.

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President Obama’s 2014 State of the Union Address

Posted by PITHOCRATES - January 30th, 2014

Politics 101

Democrats offered Enthusiastic Applause for Unsound Policy Proposals that have no Basis in Reality

President Obama’s 2014 State of the Union address was a little longer than an hour.  But if you didn’t look at a clock it felt a lot longer.  For it was the same tripe you hear all the time from this administration.  And the political left.  It was full of misleading statements.  Inaccurate facts and figures.  And some lies.  The usual stuff you expect from the liberal left.  But what was really disturbing was the enthusiastic applause for some really unsound policy proposals that have no basis in reality.  Showing either how clueless these enthusiastic Democrats are about economics, business, national security, etc.  Or how amoral they are in their quest for power.  As they judge and implement policy not by how it will improve the lives of Americans.  But how it will improve their lives in government.

Some Big Reasons why Businesses export Jobs are Taxes, Regulations and Labor Costs

If there was ever an example of what people not to have in power this state of the union theater was it.  Following are excerpts from President Obama’s speech (see FULL TRANSCRIPT: Obama’s 2014 State of the Union address posted 1/28/2014 on The Washington Post).  Comments and analysis follow each excerpt.

And here are the results of your efforts: the lowest unemployment rate in over five years; a rebounding housing market — (applause) — a manufacturing sector that’s adding jobs for the first time since the 1990s — (applause) — more oil produced — more oil produced at home than we buy from the rest of the world, the first time that’s happened in nearly twenty years — (applause) — our deficits cut by more than half; and for the first time — (applause) — for the first time in over a decade, business leaders around the world have declared that China is no longer the world’s number one place to invest; America is.

The total number of people who left the civilian labor force since President Obama took office is 11,301,000 (see The BLS Employment Situation Summary for December 2013 posted 1/13/2014 on PITHOCRATES).  Which means the unemployment rate is meaningless.  The only reason why it’s falling is that the BLS doesn’t count unemployed people who gave up looking for jobs that just aren’t there.  Oil production on private land may be up.  While overall oil consumption is down because of the Great Recession that just won’t end.  Which is helping to keep gas prices down.  Unemployed people just don’t have the money to buy gas.  So they don’t.  Greatly reducing the demand for gas.  Thus reducing gas prices and oil imports.  George W. Bush’s last deficit was $498.37 billion.  President Obama’s first deficit was $1,539.22 billion.  And it was over $1 trillion in 2010, 2011 and 2012.  It fell to $680 billion in 2013 thanks to the sequester.  But the deficit is larger now than when President Obama assumed office.  The only reduction in the deficit is a reduction in the amount he increased it.

Now, as president, I’m committed to making Washington work better, and rebuilding the trust of the people who sent us here.

Really?  You’re committed to rebuilding the trust of the people?  Mr. “If you like your health insurance you can keep your health insurance.  Period.”  Otherwise known as the lie of the year.  You’re going to rebuild the trust of the people?  Good luck with that.  What with your pants on fire and all.

Today, after four years of economic growth, corporate profits and stock prices have rarely been higher, and those at the top have never done better. But average wages have barely budged. Inequality has deepened. Upward mobility has stalled. The cold, hard fact is that even in the midst of recovery, too many Americans are working more than ever just to get by; let alone to get ahead. And too many still aren’t working at all.

Well, finally something Republicans can agree with the president about.  Yes, his economic policies have benefitted Wall Street.  While hurting Main Street.  Finally some bipartisan agreement.

So let’s make that decision easier for more companies. Both Democrats and Republicans have argued that our tax code is riddled with wasteful, complicated loopholes that punish businesses investing here, and reward companies that keep profits abroad. Let’s flip that equation. Let’s work together to close those loopholes, end those incentives to ship jobs overseas, and lower tax rates for businesses that create jobs right here at home. (Cheers, applause.)

There are only a few reasons why businesses export jobs.  And the big three are taxes, regulations and labor costs.  The Obama administration wants to raise taxes.  They’ve increased regulatory costs.  And they support costly union labor.  So everything they stand for encourages businesses to export jobs.

But — but I’ll act on my own to slash bureaucracy and streamline the permitting process for key projects, so we can get more construction workers on the job as fast as possible. (Applause.)

So how’s that approval for the Keystone XL pipeline coming along?  That thing you’ve been studying since 2010?  Which by the laws of arithmetic is approximately 4 years ago.  Is this slashing bureaucracy and streamlining the permitting process?  At this rate it would probably be quicker to elect a Republican president in 2016.  You know, someone who, when it comes to economic activity, walks it while the Democrats only talk it.

We also have the chance, right now, to beat other countries in the race for the next wave of high-tech manufacturing jobs. And my administration’s launched two hubs for high-tech manufacturing in Raleigh, North Carolina, and Youngstown, Ohio, where we’ve connected businesses to research universities that can help America lead the world in advanced technologies.

Universities are in the grant business.  They want as many grants as they can get to help bring money into the university.  And to do so they will study anything the government wants them to.  No matter how wasteful it is.  While some of the biggest high-tech companies started in garages.  Apple, Google, Hewlett Packard and Microsoft.  To name a few.  Yes, there is a lot of university-driven research.  But the big innovation is more entrepreneurial.  Created by people thinking up new stuff no one thought of yet.  Which is the last thing you want government involved in.  That same government that can’t build a website using 1990s technology.

Let’s do more to help the entrepreneurs and small business owners who create most new jobs in America. Over the past five years, my administration has made more loans to small business owners than any other. And when 98 percent of our exporters are small businesses, new trade partnerships with Europe and the Asia-Pacific will help them create even more jobs. We need to work together on tools like bipartisan trade promotion authority to protect our workers, protect our environment and open new markets to new goods stamped “Made in the USA.” (Applause.)

You want to help entrepreneurs and small business?  Get rid of Obamacare.  And slash tax rates.  This will provide incentive.  And allow them to reinvest more of their earnings to grow their business.  Allowing them to create those jobs.

Now, one of the biggest factors in bringing more jobs back is our commitment to American energy. The “all the above” energy strategy I announced a few years ago is working, and today America is closer to energy independence than we have been in decades. (Applause.)

‘All of the above’ as long as it isn’t coal, oil or nuclear.  But if it’s solar power and wind power they are committed to giving more tax dollars to their friends and bundlers in the green energy industry.

Meanwhile, my administration will keep working with the industry to sustain production and jobs growth while strengthening protection of our air, our water, our communities. And while we’re at it, I’ll use my authority to protect more of our pristine federal lands for future generations. (Applause.)

You can’t sustain production and jobs growth by strengthening protection of our air, water and pristine federal lands.  That’s just more regulatory costs.  And raising energy costs by not allowing any oil or natural gas production on those pristine federal lands.  Raising energy costs by restricting supply.  Which raises business costs.  In addition to those new regulatory costs.

Every four minutes another American home or business goes solar, every panel pounded into place by a worker whose job can’t be outsourced. Let’s continue that progress with a smarter tax policy that stops giving $4 billion a year to fossil fuel industries that don’t need it so we can invest more in fuels of the future that do. (Cheers, applause.)

That says it all.  Fossil fuels don’t need subsidies because their costs are affordable.  While solar (and wind power) are so costly that they are unaffordable.  Unless government heavily subsidizes them.

But the debate is settled. Climate change is a fact. (Applause.) And when our children’s children look us in the eye and ask if we did all we could to leave them a safer, more stable world, with new sources of energy, I want us to be able to say yes, we did. (Cheers, applause.)

There is no such thing as settled science.  Only science that has yet to be disproved.  Besides, once upon a time glaciers stretched down from the poles to near the equator.  And then receded back to where they are now.  All without any manmade carbon in the atmosphere to warm the planet.  As we were still simple hunter and gatherers then.  So if the glaciers moved more before there was manmade global warming they’ll move again regardless of what man is doing to warm the planet.

Finally, if we’re serious about economic growth, it is time to heed the call of business leaders, labor leaders, faith leaders, law enforcement — and fix our broken immigration system. (Cheers, applause.) Republicans and Democrats in the Senate have acted, and I know that members of both parties in the House want to do the same. Independent economists say immigration reform will grow our economy and shrink our deficits by almost $1 trillion in the next two decades. And for good reason: When people come here to fulfill their dreams — to study, invent, contribute to our culture — they make our country a more attractive place for businesses to locate and create jobs for everybody. So let’s get immigration reform done this year. (Cheers, applause.) Let’s get it done. It’s time.

Funny how that argument doesn’t apply to birth control and abortion.  The reason we need to “fix our broken immigration system.”  For if we were having babies at the rate when government created the welfare state we could pay for that welfare state today.  But thanks to the Sixties, birth control, abortion and feminism women stopped having babies.  Which is fine if a woman doesn’t want to.  But the progressives designed the welfare state based on them being baby machines.  Creating a greater number of taxpayers with each generation.  So more people pay into the welfare state than collect from it.  The way it must be for a Ponzi scheme to work.

That’s why I’ve been asking CEOs to give more long-term unemployed workers a fair shot at new jobs, a new chance to support their families. And in fact, this week many will come to the White House to make that commitment real.

When you raise the cost of labor (union labor, Obamacare, etc.) businesses tend to look at automating production instead of hiring that costly labor.  They may not be able to do anything about the higher regulatory costs but they can do something about higher labor costs.  Use more machines than people.  If you want CEOs to create new jobs stop making labor so costly.  And you can start with getting rid of Obamacare.

Of course, it’s not enough to train today’s workforce. We also have to prepare tomorrow’s workforce, by guaranteeing every child access to a world-class education. (Applause.)…

Five years ago we set out to change the odds for all our kids. We worked with lenders to reform student loans, and today more young people are earning college degrees than ever before. Race to the Top, with the help of governors from both parties, has helped states raise expectations and performance. Teachers and principals in schools from Tennessee to Washington, D.C., are making big strides in preparing students with the skills for the new economy — problem solving, critical thinking, science, technology, engineering, math.

Yes, more kids are going to college than ever before.  But they’re going there to have fun.  And to facilitate their fun many are getting easy, worthless degrees in the social sciences and humanities.  Costly degrees that universities sold them promising them future riches.  Enriching the university.  While impoverishing their graduates.  For a high-tech company has no use for these degrees.  Which is why a lot of these people end up in jobs they didn’t need that costly degree to do.  And our high-tech companies are using the visa program to get foreigners who have the skills they want.  Problem solving, critical thinking, science, technology, engineering and math.

It requires everything from more challenging curriculums and more demanding parents to better support for teachers and new ways to measure how well our kids think, not how well they can fill in a bubble on a test. But it is worth it — and it is working.

If you want kids to do better we need to champion marriage and family more.  And they should embrace religion a little more.  Instead of encouraging our young women to use birth control and abortion to avoid marriage and family.  And pulling every last vestige of religion from our lives.  Kids growing up in a household with a mother and a father who go to church do far better on average than kids growing up in a single-parent household and don’t go to church (see Strong families steeped in Conservative Values and Traditions do Well in America posted 1/11/2014 on PITHOCRATES).

Research shows that one of the best investments we can make in a child’s life is high-quality early education. (Applause.) Last year, I asked this Congress to help states make high-quality pre-K available to every 4-year-old. And as a parent as well as a president, I repeat that request tonight.

Actually, research doesn’t show that.  Yet they keep saying that.  For it’s like that line in the musical Evita, “Get them while they’re young, Evita.  Get them while they’re young.”  The sooner they can take them away from their parents the sooner they can start turning them into Democrat voters.  Such as teaching them to blame their parents for the manmade global warming that is killing the polar bears as they have no ice to rest on while eating their baby seals.

You know, today, women make up about half our workforce, but they still make 77 cents for every dollar a man earns. That is wrong, and in 2014, it’s an embarrassment.

Women deserve equal pay for equal work. (Cheers, applause.)

Actually, it’s closer to 91 cents (see The White House’s use of data on the gender wage gap by Glenn Kessler posted 6/5/2012 on The Washington Post).  And the small difference is not due to discrimination but personal choice.  When you look at aggregate wages women will make less than men.  Because more women are teachers (with 3 month off without pay) than men are.  Some women work fewer hours at work to spend more time with their children. While men tend to work more overtime.  Men also work the more dangerous and higher paying jobs.  And are more likely to belong to a union.  When you compare childless, single men and women with a college degree some women are actually earning more than men.  Figures don’t lie but liars figure.  And for the contortions the Obama administration did here The Washington Post’s The Fact Checker gave the president one Pinocchio.

Now, women hold a majority of lower-wage jobs, but they’re not the only ones stifled by stagnant wages. Americans understand that some people will earn more money than others, and we don’t resent those who, by virtue of their efforts, achieve incredible success. That’s what America’s all about. But Americans overwhelmingly agree that no one who works full-time should ever have to raise a family in poverty. (Applause.)

In the year since I asked this Congress to raise the minimum wage, five states have passed laws to raise theirs.

You’re not going to have a lot of upward mobility when you pay people more to remain in the jobs they hate.  All the talk about making college more affordable and bringing employers and community colleges together to help give people the skills they need to fill the jobs employers have is all for nothing if they just pay people more for doing an entry-level job.

Let’s do more to help Americans save for retirement. Today most workers don’t have a pension. A Social Security check often isn’t enough on its own. And while the stock market has doubled over the last five years, that doesn’t help folks who don’t have 401(k)s. That’s why tomorrow I will direct the Treasury to create a new way for working Americans to start their own retirement savings: MyRA. It’s a — it’s a new savings bond that encourages folks to build a nest egg.

Once upon a time people opened a savings account at their local bank and they saved to buy a house.  And they saved for their retirement.  That’s how people saved when they didn’t have a pension or a 401(k).  They can’t do that today because of the Federal Reserve destroying the banking industry by keeping interest rates at zero.  If the Fed stopped printing money and let investment capital come from our savings like they did before the Keynesians gave us the Federal Reserve people would be saving like we once did.  And we’d stop having Great Depressions, stagflation and Great Recessions.  Created by their prolonging the growth side of the business cycle.  Which raises prices higher than they normally would go.  Making the contraction side of the business cycle that much more painful.  As those prices have a much longer way to fall than they normally would.  Thanks to the Fed’s meddling with interest rates.

MyRA guarantees a decent return with no risk of losing what you put in. And if this Congress wants to help, work with me to fix an upside-down tax code that gives big tax breaks to help the wealthy save, but does little or nothing for middle-class Americans, offer every American access to an automatic IRA on the job, so they can save at work just like everybody in this chamber can.

You know why they want these MyRAs?  Because they can’t stand people saving money.  They love Social Security.  Because they can borrow from the Social Security Trust Fund.  Which is what they will do with these MyRAs.  They will take this money and spend it.  Filling the MyRA Trust Fund with a bunch of IOUs.  Just like they do with the Social Security Trust Fund.  And then provide a retirement benefit like Social Security.  That is too small to live on.  Whereas if we saved the money ourselves our retirement nest-egg will be much larger.  And it will provide for our retirement.  Unlike Social Security.

And since the most important investment many families make is their home, send me legislation that protects taxpayers from footing the bill for a housing crisis ever again, and keeps the dream of homeownership alive for future generations. (Applause.)

It was Bill Clinton that set the stage for the subprime mortgage crisis with his Policy Statement on Discrimination in Lending (see Bill Clinton created the subprime mortgage crisis with his Policy Statement on Discrimination in Lending posted 11/6/2011 on PITHOCRATES).  Using the heavy hand of government to get lenders to qualify the unqualified.  Then the Fed’s artificially low interest rates were the bait for the trap.  Enticing people to borrow huge sums of money because those interest rates were just too good to pass up.  Even if they weren’t planning to buy a house to begin with. The subprime mortgage crisis and the resulting Great Recession were government made.  If we want to prevent the taxpayers from footing the bill for another housing crisis we need to get the Keynesians out of government.

Already, because of the Affordable Care Act, more than 3 million Americans under age 26 have gained coverage under their parents’ plans. (Applause.)

More than 9 million Americans have signed up for private health insurance or Medicaid coverage — 9 million. (Applause.)

The Washington Post gave this lie three Pinocchios (see Warning: Ignore claims that 3.9 million people signed up for Medicaid because of Obamacare by Glenn Kessler posted 1/16/2014 on The Washington Post).  For they’re counting some 3.9 million who would have signed up anyway for Medicaid regardless of the Affordable Care Act.  Also, the government was counting people who put a health care plan into their shopping cart as if they signed up for it.  Which many couldn’t.  As they haven’t programmed the back end of the health care website yet to actually accept payment or to pass that information on to the insurers.

And here’s another number: zero. Because of this law, no American, none, zero, can ever again be dropped or denied coverage for a pre-existing condition like asthma or back pain or cancer. (Cheers, applause.) No woman can ever be charged more just because she’s a woman. (Cheers, applause.) And we did all this while adding years to Medicare’s finances, keeping Medicare premiums flat and lowering prescription costs for millions of seniors.

That’s right.  Women with reproductive systems that men don’t have won’t pay more for their health insurance than men pay for theirs.  How can they do that?  Simple.  They just are charging men more.  To cover the cost of a reproductive system they don’t have.

Citizenship means standing up for the lives that gun violence steals from us each day. I have seen the courage of parents, students, pastors, and police officers all over this country who say “we are not afraid,” and I intend to keep trying, with or without Congress, to help stop more tragedies from visiting innocent Americans in our movie theaters and our shopping malls, or schools like Sandy Hook. (Applause.)

If you take away guns from law-abiding gun owners that won’t keep dangerous people with mental health issues that want to harm people out of our movie theaters, our shopping malls or schools like Sandy Hook.  For there are other ways to harm people.  Just look at the Boston Marathon bombers.  The people he’s talking about not only had mental health issues but they were also smart.  Many were even college students.  Who probably could think of other ways to hurt people.  And you just can’t take away everything they might use to harm people.  But you can place these people somewhere where they can’t harm anyone.

You see, in a world of complex threats, our security, our leadership depends on all elements of our power — including strong and principled diplomacy. American diplomacy has rallied more than 50 countries to prevent nuclear materials from falling into the wrong hands, and allowed us to reduce our own reliance on Cold War stockpiles.

Since President Obama assumed office he did nothing to support the Green Revolution in Iran.  Which kept the hard-line Islamists in power there.  He gave Egypt to the Muslim Brotherhood by telling Hosni Mubarak that he had to go.  Removing the stable anchor of the Middle East.  And moved Egypt closer to Iran.  (The Egyptian people eventually rose up to overthrow the oppressive Muslim Brotherhood).  He went to war in Libya and helped to overthrow Colonel Muammar Qaddafi.  Who at the time was a quasi ally in the War on Terror.  After the Iraq invasion frightened him into believing he may be next.  President Obama was thanked for his Libyan war by al Qaeda with 4 dead Americans in Benghazi on the anniversary of 9/11.  He waited too long to act in the Syrian civil war.  Which only brought al Qaeda into the conflict.  He failed to attain a status of forces agreement in Iraq.  So he pulled all U.S. forces out of Iraq which has only invited al Qaeda in.  And it looks like this will be repeated in Afghanistan.  He blamed George W. Bush’s wars as recruitment tools for al Qaeda.  While his extensive drone use is doing the same thing.  Especially in Yemen.  The hotbed of al-Qaeda in the Arabian Peninsula.  All that his diplomacy and leadership has done was to make the world a more dangerous place.

American diplomacy, backed by the threat of force, is why Syria’s chemical weapons are being eliminated. (Applause.) And we will continue to work with the international community to usher in the future the Syrian people deserve — a future free of dictatorship, terror and fear.

His diplomacy with Bashar al-Assad in Syria only gave his oppressive regime legitimacy in the civil war he was raging against his people.  Making it easier for Assad to kill Syrians with conventional arms while he gives up a token amount of his chemical weapons.  While also making Russia who brokered the deal the dominate player in the region.

And it is American diplomacy, backed by pressure, that has halted the progress of Iran’s nuclear program — and rolled back parts of that program — for the very first time in a decade. As we gather here tonight, Iran has begun to eliminate its stockpile of higher levels of enriched uranium.

It’s not installing advanced centrifuges. Unprecedented inspections help the world verify every day that Iran is not building a bomb. And with our allies and partners, we’re engaged in negotiations to see if we can peacefully achieve a goal we all share: preventing Iran from obtaining a nuclear weapon. (Applause.)

All Iran is doing is pausing their program.  And chemically altering some of their enriched uranium to meet the requirements of this diplomatic deal.  But this chemical process is reversible.  And they will reverse it once they get what they want.  This deal makes the world no safer.  If anything it makes it more dangerous.  For it does not diminish the Iranian nuclear program in the least.  But gives them more time to work on it as they prop up their regime with much needed supplies thanks to a relaxation of the sanctions against them.

These negotiations will be difficult; they may not succeed. We are clear-eyed about Iran’s support for terrorist organizations like Hezbollah, which threaten our allies; and we’re clear about the mistrust between our nations, mistrust that cannot be wished away. But these negotiations don’t rely on trust; any long-term deal we agree to must be based on verifiable action that convinces us and the international community that Iran is not building a nuclear bomb. If John F. Kennedy and Ronald Reagan could negotiate with the Soviet Union, then surely a strong and confident America can negotiate with less powerful adversaries today. (Applause.)

The sanctions that we put in place helped make this opportunity possible. But let me be clear: if this Congress sends me a new sanctions bill now that threatens to derail these talks, I will veto it. (Applause.) For the sake of our national security, we must give diplomacy a chance to succeed.

The Soviet Union never attacked U.S. soil.  And there was a reason they didn’t.  They were rational.  And knew they would lose a great deal in a war with America.  Especially a nuclear one.  Which is why they never used their nuclear weapons.  But Iran giving a nuclear weapon to a shadowy group that is not a state?  With little to lose in using a nuclear weapon?  If it’s not a nuclear missile there will be no way in knowing where the nuclear bomb came from.  We can have our suspicions that Iran made it and gave it to someone.  But do we nuke Iran over that?  What if there are more nukes in the hands of al Qaeda, Hezbollah, al-Qaeda in the Arabian Peninsula, etc.?  You could nuke Iran back to the Stone Age but it won’t stop those others being used.  The president insists this will not happen as Iran signed an agreement.  The only problem with that is the Iranians are liars.  And they call the United States the Great Satan.   These two facts suggest that replacing those sanctions with a promise not to build nuclear bombs was probably not a wise trade.

But for more than two hundred years, we have put those things aside and placed our collective shoulder to the wheel of progress: to create and build and expand the possibilities of individual achievement; to free other nations from tyranny and fear; to promote justice and fairness and equality under the law, so that the words set to paper by our founders are made real for every citizen.

Use our collective shoulder to expand individual achievement?  The president believes in the former more than the latter.  He didn’t help the Iranians get free from tyranny when he had the chance.  And he turned the Egyptian people over to tyranny.  The Muslim Brotherhood.  Who were oppressing women and Christians.  Fairness and equality under the law?  Ask those Tea Party groups who were targeted by the IRS about fairness and equality under the law.  The Constitution?  That document of negative rights?  The left hates it.  And insists it’s a living document that can evolve over time to suit the needs of an expanding government.  So they can do exactly what the Founding Fathers wrote the Constitution to prevent from happening.

The Left endorses Unsound Policy Proposals with no Basis in Reality to improve their Chances of Winning Elections

The country is more conservative than liberal (see Liberal Self-Identification Edges Up to New High in 2013 by Jeffrey M. Jones posted 1/10/2014 on Gallup).  Which is why liberals want state-funded pre-K to start indoctrinating our children as soon as possible.  To get them away from their parents so they can begin the process of turning them into Democrat voters.  It’s why kids are getting worthless social science and humanities degrees.  To further indoctrinate them.  Because their views are minority views.  So they need to play loose with the facts.  And lie.  Which is easier to do with indoctrinated kids than educated adults.  You’ll even hear Democrats talk about lowering the voting age.  To get a few more years of voting out of these kids before they grow old and wise.  And begin voting conservative.  So they do what they can to dumb down education.  Lie.  Cheat.  And buy as many votes as they can by giving away free stuff.  And the thing they really want to give away is citizenship for illegal aliens.  Who they are sure will be forever grateful.  And show it by voting Democrat.

This explains the enthusiastic applause for unsound policy proposals that have no basis in reality.  For the left is not interested in improving the lives of Americans.  They just want to improve their chances of winning elections.

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Democrats Lie because they Must

Posted by PITHOCRATES - January 2nd, 2014

Politics 101

Democrats lie because they have a Track Record of doing things Poorly

Democrats lie.  They have to.  Because they want power.  And they have no good reason for accumulating it.  They lied about Obamacare to pass it into law.  With the top Democrat telling the biggest lie of 2013.  President Obama.  “If you like your insurance plan you can keep it.  Period.”  They lied because they want the power to control one-sixth of the U.S. economy.  Even if they reduce the quality of health care.  Which they will.  So they can spend the ensuing years demanding more money (i.e., higher taxes) to fix Obamacare.

They blamed the killing of 4 Americans including our ambassador in Benghazi on a YouTube video.  Even the left-leaning (it leans so far left it has actually fallen over) New York Times is rehashing this story.  Saying it was a spontaneous uprising over that YouTube video that had nothing to do with al Qaeda.  Despite using military armaments like rocket propelled grenades and pre-sighted motors.  Things crowds don’t typically have on them to commit spontaneous mischief.  But President Obama’s 2012 campaign claimed that President Obama had al Qaeda reeling.  And just couldn’t let the American people know that they were negligent in protecting Americans in Benghazi.  Which was so dangerous that the British had pulled out before the anniversary of 9/11.  But they still denied Ambassador Stevens’ request for more security.  Despite the anniversary of 9/11 being around the corner.  Because it wouldn’t look good during a campaign that claimed to have al Qaeda reeling.

So Democrats lie.  Because they have a track record of doing things poorly.  Preventing them from saying “let us do this and that and the other thing because we have a great track record of doing this and that and the other thing.”  When in fact their track record is so poor that no one would ask them to do more so we can enjoy more failure.  So they lie.  To expand the size of government.  So they can reach out and strangle the private sector.  Such as with their lies about global warming that raised the cost of heating our homes.  As well as to light our homes.  Making the incandescent light bulb now illegal.  Forcing us to use more costly lower wattage lamps.  Compact fluorescents.  And LEDs.  So we use less energy.  And put less carbon into the atmosphere.  Because manmade global warming is killing us.

You can irrigate a Desert and grow Grass but you can’t grow Grass where Ice and Snow cover the Soil

One of the iconic images of the American Revolutionary War is our troops freezing at Valley Forge.  The winter was brutal.  And for good reason.  It was part of the Little Ice Age.  A period of cooling from approximately 1350 to about 1850.  Where temperatures fell.  Making the winters colder.  Longer.  And snowier.  Rivers and harbors froze that don’t freeze today.  Glaciers destroyed mountain top villages.  And the shorter and wetter growing seasons caused famines in many countries.  Famines in France, Norway and Sweden killed about 10% of their populations.  Famines in Estonia and Finland killed more.

A cooling climate is dangerous.  It shortens the growing season.  Leaving people hungry, malnourished and sickly.  For you need sun, warmth and moist soil (not mud) through many months to grow food.  If you don’t you have poor harvests.  Providing less food for the people to eat.  And less forage to sustain livestock over the winter.  Which reduces the food supply during the winter further.  Giving you famines.  Like those in the Little Ice Age.

Dubai is a city in a desert.  From May through September they get less than one inch of rain each month.  The average high in July is 105.4 degrees.  The average high in January is 75.2 degrees.  The average annual humidity is 59.8%.  So Dubai is hot and dry.  A city of buildings and sand.  But you know what else Dubai has?  Lush, green, championship golf courses.  Something Greenland doesn’t have.  Because you can irrigate a desert and grow grass.  But you can’t grow grass where ice and snow cover the soil.  And the same holds true for food.  Making a cooling climate far more dangerous than a warming climate.  As those valiant soldiers at Valley Forge could have attested to.

Because of Global Warming Dr. David Viner said in 2000, “Children just aren’t going to know what snow is.”

The global warming alarmists have been warning that the polar ice caps are melting.  And the poor polar bears have no ice to rest on.  Soon the ice will all melt and flood our coastal regions.  They say this even today.  Interestingly, a ship is retracing the steps of Australian explorer Douglas Mawson in the Antarctic.   Whose expedition suffered horribly during the winter months there about a century earlier.  The current expedition is aboard the MV Akademik Shokalski.  Which has been stuck in the ice since Christmas Eve.  And this during the summer months in the Antarctic.

Noted climate ‘scientist’ at the University of East Anglia, Dr. David Viner, said in 2000 that because of global warming “Children just aren’t going to know what snow is.”  Currently, the eighth winter storm this year, Winter Storm Hercules, is dumping over a foot of snow from Buffalo to Boston.  With blizzard warnings for Cape Cod and Long Island.  And bitter cold Arctic air will follow the snow.  About as bad as it was at Valley Forge.  With another winter storm following Winter Storm Hercules.  Funny.  Here we are almost 14 years later and there is still snow.  Proving how wrong the global warming alarmists have been.

Still, the global warming alarmists say we must fight global warming.  To allow the climate to cool.  Even though history has shown that a cooling climate leads to hunger, malnourishment and sickness.  And famine.  But the left fights for those things.  Why?  Because there ain’t a damn thing you can do with regulations to warm the planet.  But if you paint manmade global warming as the villain you can blame carbon.  And regulate the hell out of the economy.  And that’s something they will never let go of.  Hence their lying.  Because they just don’t want to give up the power that allowed them to make the incandescent light bulb illegal.

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Britons lose Interest in Saving the Planet thanks to rising Utility Bills and Green Levies to pay for Wind Farms

Posted by PITHOCRATES - December 1st, 2013

Week in Review

Britain is green.  They have made the prevention of manmade global warming a national goal.  They’re gradually doing away with carbon-based energies.  Like coal-fired power plants.  And replacing them with green things like wind farms.  Although one large wind project just got derailed.  The £4bn ($6.6 billion US) Atlantic Array project in the Bristol Channel.  But just the fact that they were going to spend $6.6 billion to build an offshore wind farm shows you how committed they are in going green.  Of course one might ask where does one get $6.6 billion to build a wind farm?  Simple.  You just add a green levy to everyone’s utility bill (see Energy policies just rob Peter to pay Paul by Telegraph View posted 12/1/2013 on The Telegraph).

Yesterday morning, George Osborne and Ed Balls both graced the sofa of the Andrew Marr Show as part of a pre-Autumn Statement offensive to woo the voters. Perhaps the biggest issue of the day was the fate of the green levies on consumers’ bills – a policy that Ed Miliband began as energy secretary and which the Tories embraced in office as a way of proving their environmentalist credentials. Now the consensus that the consumer should be forced to pick up the tab for saving the planet is gone, thanks to sky-rocketing energy costs. But the solutions proposed by Mr Osborne and Mr Balls may not be enough to induce a warm glow in the heart of the hard-pressed voter.

Mr Balls had nothing compelling to say. He made some noises about “value for money” and said that anything the Government could do to reduce costs was welcome. But it was Labour, after all, that introduced the green levies and remains committed to unreasonable decarbonisation targets. The party’s core pledge now is to freeze prices after the 2015 election. It is, as Mr Osborne called it, “back of a fag packet” stuff. Labour can do nothing to control global energy prices; a price freeze could put smaller providers out of business; and the likely outcome is that companies will simply hike bills before the freeze comes into effect. This variety of socialist populism typically ends up hurting the economy in the long run.

However, there are serious flaws in Mr Osborne’s alternative. Although the average bill could fall by £50 under the Government’s plan, some bills are predicted to rise by £120.

First of all, “back of a fag packet” isn’t a gay slur.  A fag is slang for cigarette in the UK.  And a fag packet is a pack of cigarettes.  So “back of a fag packet” stuff is a plan with so little meaningful details that they can write it out on one side of a pack of cigarettes.  It’s sort of like us yanks writing out something on the back of a cocktail napkin.  It’s not detailed stuff.  And probably not stuff thought out well.  Hence the disparaging tone of George Osborne’s criticism of the Labour Party’s idea of a price freeze.

As interesting as this explanation was it’s what is in the following paragraph that is of note.  The rise in the average bill of £120.  This is the green levy on the people’s average utility bill.  Which comes to $197.16 in US dollars.  This is the cost of all those wind turbines they’re building.  A number so painful that Britons everywhere are saying that this manmade global warming?  It isn’t as bad as I once thought it was.  So we can stop building these silly windmills.  Especially those that cost $6.6 billion.  Let’s just leave those beautiful coal-fired power plants on line.  So I can afford to feed my family.  For I know my history.  And my Dickens.  England during the Industrial Revolution was a filthy place.  Where workers—and everything else—were covered in soot and ashes.  And despite all of this manmade carbon it was not warm and balmy during those times.  No.  People struggled to both eat.  And stay warm.  England is cleaner today and yet we are suffering from manmade global warming?  Right, pull the other.

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Environmentalists hate American Bald Eagles and Urge the Building of Eagle Killing Machines

Posted by PITHOCRATES - November 23rd, 2013

Week in Review

We have spent billions building wind farms all over the world.  To fight the rise of manmade global warming.  By replacing dirty, filthy, polluting, carbon-producing, global-warming-generating coal-fired power plants.  Which haven’t replaced many if any coal-fired power plants.  Because we still need those coal-fired power plants to provide electric power when the wind doesn’t blow.  Or blows too strong.  Making the whole wind power industry a costly joke.  Well, a costly sad joke.  As those great spinning killing machines are killing some of our most precious natural resources.  American Bald Eagles (see Energy company to pay out $1m over eagle deaths at wind farms by AP posted 11/23/2013 on The Telegraph).

The U.S. government for the first time has enforced environmental laws protecting birds against wind energy facilities, winning a $1 million settlement from a power company that pleaded guilty to killing 14 eagles and 149 other birds at two wind farms in the western state of Wyoming.

The Obama administration has championed pollution-free wind power and used the same law against oil companies and power companies for drowning and electrocuting birds. The case against Duke Energy Corp. and its renewable energy arm was the first prosecuted under the Migratory Bird Treaty Act against a wind energy company…

An investigation by The Associated Press in May revealed dozens of eagle deaths from wind energy facilities, including at Duke’s Top of the World farm outside Casper, Wyoming, the deadliest for eagles of 15 such facilities that Duke operates nationwide. The other wind farm included in the settlement is in nearby Campbell Hill…

A study in September by federal biologists found that wind turbines had killed at least 67 bald and golden eagles since 2008. That did not include deaths at Altamont Pass, an area in northern California where wind farms kill an estimated 60 eagles a year.

Until Friday’s announcement, not a single wind energy company had been prosecuted for a death of an eagle or other protected bird – even though each death is a violation of federal law…

Wind farms are clusters of turbines as tall as 30-story buildings, with spinning rotors as wide as a passenger jet’s wingspan. Though the blades appear to move slowly, they can reach speeds up to 170mph at the tips, creating tornado-like vortexes.

Flying eagles behave like drivers texting on their cellphones; they don’t look up. As they scan for food, they don’t notice the industrial turbine blades until it’s too late…

Once a wind farm is built, there is little a company can do to stop the deaths. Some firms have tried using radar to detect birds and to shut down the turbines when they get too close. Others have used human spotters to warn when birds are flying too close to the blades. Another tactic has been to remove vegetation to reduce the prey the birds like to eat.

As part of the agreement, Duke will continue to use field biologists to identify eagles and shut down turbines when they get too close. It will install new radar technology, similar to what is used in Afghanistan to track missiles. And it will continue to voluntarily report all eagle and bird deaths to the government.

Here’s a thought.  Instead of spending billions to build wind turbines.  And additional God knows how much more for radar technology and human bird spotters to shut down the wind turbines when birds are near.  Or razing the earth to kill the ecosystem for the wildlife that eagles feed on.  Instead of doing these things why not just use coal-fired power plants?  After all, what do you think will provide our electric power when radar or those human spotters shut down those wind turbines?  That’s right.  Coal-fired power plants.

Of course the environmentalists hate the modern industrial world.  And using energy to raise our standard of living.  They’d like to go back to a time when we grew our own food.  And spun our own clothing.  For them the modern world is an obscene abomination to them.  With America being the worst.  As we are the most advanced nation in the world.

It’s bad enough the environmentalists are raising the cost of electric power with their renewable energy nonsense.  But they’re also killing American Bald Eagles.  Sure, the glorious American Bald Eagle may not be as important to them as a forest rodent (preventing the cutting of firebreaks in forests to prevent the spread of forest fires) or delta smelt (shutting down the irrigation pumps in California’s Central Valley that provides much of our food), but they are a living creature, too.  And should be allowed to live freely in their habitat.  Then again, perhaps they don’t care about the American Bald Eagle.  As it is America’s national bird.  And they just hate America so much that they hate our national bird, too.

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FT197: “Global warming insurance would probably sell as well as Obamacare.” —Old Pithy

Posted by PITHOCRATES - November 22nd, 2013

Fundamental Truth

The Scam of the Ponzi Scheme is that there is no Investment

A Ponzi scheme is a pyramid scheme.  An investment scam.  Here’s how it works.  Say three scammers build an investment fund that they promise will return an 18% return on investment.  A pretty good return these days.  If they have 100 investors who invest $25,000 each that brings in $2.5 million into the investment fund.  Now here’s where the scam comes in.

They pay each investor an 18% return each year.  So their $25,000 returns $4,500.  A return they can’t get anywhere else.  An investment just too good to be true.  Some take that $4,500 check and spend it on something special for themselves.  Others leave it in the fund.  While others beg to get into the fund.  Of course they wouldn’t do these things if they understood what happened to the $2.125 million that the fund didn’t pay out to investors.  That went into the pockets of the three scammers.

That’s the scam of the Ponzi scheme.  There is no investment.  The scammers collect the money people invest.  Put aside some money to pay out as a generous return on investment.  While keeping the rest.  These scammers sit on top of the pyramid.  And the more people that join the investment fund the wider the base of the pyramid gets.  Pouring more money into the scam.  Providing more money to pay out even higher returns on investments.  Getter ever more people begging to get into the fund.  While burying the scammers under an avalanche of cash.

Our Aging Population is sending the Health Insurance Industry into a Death Spiral

All Ponzi schemes share these characteristics.  And one other one.  They all fail.  And the scammers go to jail.  Why?  Simple.  The scam works as long as the base of the pyramid continues to grow greater than the top of the pyramid.  As the base grows larger the scammers spend more money, though.  Because there is more money to spend.  And spend they do.  Putting down deposits and paying on large mortgages and loans.  Buying very costly things that have a voracious appetite for cash.  So over time more money flows out at the top of the pyramid.  Which isn’t a problem until money stops flowing into the bottom of the pyramid.  Or begins to flow out.  Because people want to use their money for something else.  Like for a down payment on a house.  And once the money flowing out of the bottom of the pyramid exceeds the ‘return’ on investment the fund pays those high returns on investments shrink and disappear.  Exposing the scam.

This is what has happened to Social Security and Medicare.  Thanks to an aging population.  Women are having fewer babies than they did during the baby boom generation.  So today we have fewer taxpayers entering the workforce who pay the taxes that pay for Social Security and Medicare.  While the baby boomers are retiring and leaving the workforce.  And living longer into retirement.  Consuming far more money than they ever paid into these entitlement programs.  So there is far more money flowing out of the top of the pyramid than is flowing into the bottom.  Inverting the pyramid.  And putting these programs onto the path to bankruptcy.

Health insurance is little different.  It just covers so much these days that insurance premiums have soared to pay for this ever expanding coverage.  And the aging population just makes a horrible situation worse.  The elderly are living longer and consuming the lion’s share of health care services.  Further raising the cost of health insurance.  Making it unaffordable to many.  So people simply choose not to buy it in their youth when they are young and healthy.  And wait to buy it later in life when they need it.  Such as when they start raising a family.  At which time they’ll try to find employment somewhere that has good health insurance.  When they start consuming health care services.  Creating adverse selection.  Where only those who consume health care services buy health insurance.  While those who don’t consume health care services (i.e., the young and healthy) don’t.  Creating a death spiral.  As there are no non-consumers of health care services subsidizing the high cost of the large consumers of health care services.  So premiums rise.  To allow fewer people pay for more.  More people drop their insurance because they can no longer afford it.  Shrinking the insurance pool.  So premiums rise.  To allow fewer people pay for more.  More people drop their insurance because they can no longer afford it.  And so on until the cost of health insurance equals the cost of the health care services.  And the insurance market goes the way of every Ponzi scheme before it.

When Reality hits People in the Pocketbook they tend to Lose their Idealism

Enter the Affordable Care Act and the mandates.  Forcing the young and healthy to buy insurance they won’t use.  So they can use their premiums to pay for the old and sick.  The greatest generational theft in history.  Something the young and healthy see.  And don’t like.  For they are not running out and buying health insurance on the health exchanges.  In fact the majority of the people to enroll thus far are the high consumers of health care services.  Which is basically the opposite of the goal of Obamacare.  The young and healthy may have supported President Obama and the Affordable Care Act but that was only in generalities.  Yes, we should help those who don’t have insurance.  And, yes, we should do something to save the environment.  We should stop discriminating against the LGBT community and let them get married.  In the abstract these are all noble goals.  But when the reality hits their pocketbook then it’s no longer an abstract thing to feel good about.  Especially when they can’t get a job with their college education because they had the misfortune to enter the workforce during the worst economic recovery since that following the Great Depression.  The Obama recovery.

This is when youthful idealism turns into skepticism.  As reality settles in hard.  This isn’t raising taxes on the rich.  Something they won’t have to deal with until much later in their career.  This is in the here and now.  When they stop hearing inspiring words from the president about what we can do if only we implement his policies.  But only hear B.S. and lies.  For if they had that youthful idealism they would be rushing to the health exchanges to buy health insurance to make the world a better place.  But they’re not.  And this has the left worried.  Not just about trying to fix the broken Obamacare website.  But will this skepticism spread to other items on their liberal agenda?  Such as the fight against manmade global warming?  They still want their carbon tax.  And they’ve worked hard to get kids graduating from high school convinced that we’re destroying the planet and need to make polluters pay.  If the young lose their faith on Obamacare they may just stop fearing global warming to the point that they may start driving big SUVs again.

In the abstract the youth will support many things.  Until it starts hitting them in the pocketbook.  And if we make the fight against global warming hit them in the pocketbook they would quickly become indifferent about manmade global warming.  Even becoming manmade global warming skeptics.  Perhaps even noting that the glaciers once stretched down from the poles to near the equator.  And moved back towards the poles.  Before there was any manmade global warming.  Something that probably bothers them today but they’re not yet ready to question the left about manmade global warming.  But if we made them buy insurance to protect themselves from the ravishes of global warming they probably would.  The prognosticators can run off a list of calamities that will befall us from unchecked global warming.  So actuaries should be able to put a cost on that.  And set insurance premiums to cover the cost when the calamities of manmade global warming hit us.  Putting these premiums into a Save the Planet from Manmade Global Warming Trust Fund.  Just like the Social Security Trust Fund that has nothing in it but government IOUs.  Let the youth start paying a monthly premium to save us from manmade global warming and see how soon they become global warming deniers.  If we did this global warming insurance would probably sell as well as Obamacare.  Because when reality hits people in the pocketbook they tend to lose their idealism.  And this is the biggest fear the left has.  Because they count on that youthful idealism to win elections.  For once people lose their idealism they tend to vote Republican.

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UN Climate Chief cries because Future Generations will be Dead thanks to our Manmade Global Warming

Posted by PITHOCRATES - October 26th, 2013

Week in Review

The end of the world is coming.  Again.  Because of manmade global warming (see UN climate chief’s tears over future generations by Matt McGrath posted 10/22/2013 on BBC News Science & Environment).

The head of the UN body tasked with delivering a global climate treaty broke down in tears at a meeting in London as she spoke about the impact of global warming on coming generations.

Christiana Figueres told the BBC that the lack of an agreement was “condemning future generations before they are even born”.

Ms Figueres said this was “completely unfair and immoral”.

You know we’ve been hearing about all the horrible things that will befall us if we don’t act right now since the Nineties.  We did nothing then.  Didn’t even ratify the Kyoto Protocol.  And nothing happened.  How do we know this?  Because they’re still warning us if we don’t act right now horrible things will befall us.  As late as 2007 after the predictions of the Nineties failed to happen Al Gore was still talking about the melting polar ice cap.  And a study that said the Arctic would be ice-free by the summer of 2013 if we didn’t do something right then in 2007.

The summer of 2013 has come and gone.  And the polar ice cap is still there.

They were wrong again.  As they are always wrong.  Because their science is flawed.  Even their most basic premise that higher levels of carbon dioxide cause global warming.  For temperatures rose first then the levels of carbon dioxide rose.  As noted by esteemed economist and smart guy (that knows how to read empirical data) Thomas Sowell.

There is no manmade global warming crisis.  It has been manufactured by intellectuals who make money from warning people of the impending crisis of manmade global warming.  For even Al Gore got so rich from warning us about manmade global warming that he could afford a villa on the beach.  Even though those melting polar ice caps will submerge all coastal cities as early as last summer.  Apparently when it comes to an ocean view for Al Gore there is no such thing as manmade global warming.

www.PITHOCRATES.com

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