The Panic That Could Have Collapsed The World Economy

This shows just how much thought and attention needs to be given before rushing into making half -baked plans to save banks. This is what I call a MAJOR PANIC!

LiveLeak caught a scary moment of previously undisclosed insight by Paul Kanjorski where he reveals some facts that have not been captured by the media previously. At 2 minutes and 20 seconds in the video below, Democratic Representative Kanjorski explains how the Federal Reserve told Congress members about a “tremendous draw-down of money market accounts in the United States, to the tune of $550 billion dollars.” According to Kanjorski, this electronic transfer occurred over the period of an hour or two. Continue reading

Midweak Mayhem

Yes – the typo is deliberate as I am flying solo this week… that reb guy is off frolyking around SE Asia still, sipping on cocktails, eating yummy food and generally enjoying himself. So I apologise for the lack of threads this week – which is what is contributing to the long comment lines.

Anyway – here is a duck-related joke to kick off the mayhem:

A duck goes into a bakery and asks the baker “Got any duck food?”. The baker says “No.”

The next day the duck goes back and asks “Got any duck food?” to which the baker says “No.”

This goes on for a week.

Then the duck walks into the bakery and before the duck can ask his question the baker says “If you ask me whether we have any duck food again I’m gonna nail your beak to the counter!”. The duck says “Got any nails?”. The baker answers “No”… and so the duck says “Got any duck food?”. 🙂

And so now the midweek thread is officially open.

Open letter to PM on Climate Change

Barry Brook on details an open letter from Dr Andrew Glikson (Earth and paleo-climate scientist at the ANU).  The post also makes some comments on the BOM’s detailed analysis of the 2009 southern Australian heatwave. Barry Brook quotes from a BOM colleague who has said:

Given that this was the hottest day on record on top of the driest start to a year on record on top of the longest driest drought on record on top of the hottest drought on record the implications are clear... 

It is clear to me that climate change is now becoming such a strong contributor to these hitherto unimaginable events that the language starts to change from one of “climate change increased the chances of an event” to “without climate change this event could not have occured”.

I repeat the letter here  Continue reading