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Posted
  • Location: Beccles, Suffolk.
  • Weather Preferences: Thunder, snow, heat, sunshine...
  • Location: Beccles, Suffolk.

    Which communist dictatorship are we dependent on (China is about as far from communist as my ass).

    Afraid not, old bean; China has been a Communist People's Republic since, when, 1947? Just because it's a Tory government that's doing all the kow-towing makes not a jot of difference...But I bet that, had it been Miliband or Corbyn doing the genuflecting, China would be communist all right? You see, just like the government, the Press has also dispensed with 'British values'...the race to the bottom is gathering apace.

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    As harve has touched on, re inflation and interest rates, its a hell of complicated set up to understand correctly (nobody does imho), the news always presents it very clean, simplistically and wrong.

    Go Greek strikes Go.... It's not often I support strikes, but in this I do. They are absolutely right that Greece does not need more lending. It can't afford what it owes full stop, they still need t

    Afraid not, old bean; China has been a Communist People's Republic since, when, 1947? Just because it's a Tory government that's doing all the kow-towing makes not a jot of difference...But I bet that

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    Posted
  • Location: Camborne
  • Location: Camborne

    Global non-linear effect of temperature on economic production

     

    Growing evidence demonstrates that climatic conditions can have a profound impact on the functioning of modern human societies1, 2, but effects on economic activity appear inconsistent. Fundamental productive elements of modern economies, such as workers and crops, exhibit highly non-linear responses to local temperature even in wealthy countries3, 4. In contrast, aggregate macroeconomic productivity of entire wealthy countries is reported not to respond to temperature5, while poor countries respond only linearly5, 6. Resolving this conflict between micro and macro observations is critical to understanding the role of wealth in coupled human–natural systems7, 8 and to anticipating the global impact of climate change9, 10. Here we unify these seemingly contradictory results by accounting for non-linearity at the macro scale. We show that overall economic productivity is non-linear in temperature for all countries, with productivity peaking at an annual average temperature of 13 °C and declining strongly at higher temperatures. The relationship is globally generalizable, unchanged since 1960, and apparent for agricultural and non-agricultural activity in both rich and poor countries. These results provide the first evidence that economic activity in all regions is coupled to the global climate and establish a new empirical foundation for modelling economic loss in response to climate change11, 12, with important implications. If future adaptation mimics past adaptation, unmitigated warming is expected to reshape the global economy by reducing average global incomes roughly 23% by 2100 and widening global income inequality, relative to scenarios without climate change. In contrast to prior estimates, expected global losses are approximately linear in global mean temperature, with median losses many times larger than leading models indicate.

     

    http://www.nature.com/nature/journal/vaop/ncurrent/full/nature15725.html

     

    Article

     

    http://www.bloomberg.com/news/articles/2015-10-21/climate-change-slams-global-economy-in-new-study-from-stanford-and-berkeley

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    Posted
  • Location: Mostly Watford but 3 months of the year at Capestang 34310, France
  • Weather Preferences: Continental type climate with lots of sunshine with occasional storm
  • Location: Mostly Watford but 3 months of the year at Capestang 34310, France

    This is heartening knocker - I have advocated for quite some time that more use should be made of, what is initially, free energy from the sun.

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    Posted
  • Location: Camborne
  • Location: Camborne

    Ten years that changed everything; and prevented all change

     

    We are one month away from the COP-21, in Paris, that should change everything - and will probably change nothing relevant. But change does occur, even though in ways that often surprise us, and in ways we may not like to see. The past decade has been a period of enormous changes and, also, a decade of gigantic efforts aimed at avoiding change at all costs. It is one of the many contradictions of our world. So, let me try to tell the story of these difficult years.

     

    http://cassandralegacy.blogspot.co.uk/2015/11/ten-years-that-changed-everything-and.html

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    Posted
  • Location: Camborne
  • Location: Camborne

    Fossil fuels subsidised by $10m a minute, says IMF

     

    Fossil fuel companies are benefitting from global subsidies of $5.3tn (£3.4tn) a year, equivalent to $10m a minute every day, according to a startling new estimate by the International Monetary Fund.

     

    The IMF calls the revelation “shocking†and says the figure is an “extremely robust†estimate of the true cost of fossil fuels. The $5.3tn subsidy estimated for 2015 is greater than the total health spending of all the world’s governments.

     

    The vast sum is largely due to polluters not paying the costs imposed on governments by the burning of coal, oil and gas. These include the harm caused to local populations by air pollution as well as to people across the globe affected by the floods, droughts and storms being driven by climate change.

     

    Nicholas Stern, an eminent climate economist at the London School of Economics, said: “This very important analysis shatters the myth that fossil fuels are cheap by showing just how huge their real costs are. There is no justification for these enormous subsidies for fossil fuels, which distort markets and damages economies, particularly in poorer countries.â€

     

    http://www.theguardian.com/environment/2015/may/18/fossil-fuel-companies-getting-10m-a-minute-in-subsidies-says-imf

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    Posted
  • Location: Leeds/Bradford border, 185 metres above sea level, around 600 feet
  • Location: Leeds/Bradford border, 185 metres above sea level, around 600 feet

    Never thought the externalities would cost that much.

    I'm actually not opposed to a lot of Pigovian Taxation. I'd rather a carbon tax on production than our current taxation on energy bills.

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    Posted
  • Location: Powys Mid Wales borders.
  • Location: Powys Mid Wales borders.

    Welcome to Sweden - the most cash-free society on the planet,experimenting on Sweden first.

    http://www.theguardian.com/world/2014/nov/11/welcome-sweden-electronic-money-not-so-funny

    This is old news but its in the pipline.

    Bank Of Ireland Bans "Small" Cash Withdrawals At Branches.

    Shocking but typical banksters.

    http://www.zerohedge.com/news/2015-11-05/bank-ireland-bans-small-cash-withdrawals-branches

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    Posted
  • Location: Camborne
  • Location: Camborne

    Renewable energy made up half of world's new power plants in 2014: IEA
    The International Energy Agency's annual World Energy Outlook sets out signs of a "clear transition" from coal towards clean energy, says the Guardian. The IEA predicts a coal industry in crisis, reports Business Green. Carbon Pulse reports the IEA's call for Paris to set a clear path on clean energy. The IEA expects oil prices to rise only gradually, reports Reuters, though its columnist John Kemp warns of the difficultly of forecasting oil prices. Climate Home reports on the IEA's suggestion that persistent low oil prices could challenge investments in energy efficiency and clean energy. The Washington Post explains why the IEA thinks India is about to move "centre stage" of world energy. A second Guardian article says renewable energy investment is predicted to "surge". EnergyDesk also covers the IEA outlook. The Middle East's share of oil exports could rise to 1970s levels if low prices persist says the Telegraph, which has four charts showing what this means.

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    Posted
  • Location: Devizes Wiltshire
  • Location: Devizes Wiltshire

    IMF approves China's yuan as elite reserve currency.. Mainly at the Euros expense 

     

    CVE2WW8XAAEydwB.jpg

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    Posted
  • Location: St rads Dover
  • Weather Preferences: Snow, T Storms.
  • Location: St rads Dover
    On 08/11/2015 at 3:53 PM, Snowyowl9 said:

    Bank Of Ireland Bans "Small" Cash Withdrawals At Branches.

    Shocking but typical banksters.

    http://www.zerohedge.com/news/2015-11-05/bank-ireland-bans-small-cash-withdrawals-branches

    That's normal these days, my bank doesn't like small transactions at branches either. It's what cash machines were invented for.  

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    Posted
  • Location: St rads Dover
  • Weather Preferences: Snow, T Storms.
  • Location: St rads Dover
    On 12/01/2016 at 9:14 PM, Snowy L said:

    They are finally seeing what I was talking about months ago then. Oh and Osborne's recent small sounding backtrack on how well the economy is doing. The bubble we've been living in since the so called crash recovery may be about to burst. 

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    Posted
  • Location: Near Lauder, SE Scotland, 175 m asl
  • Location: Near Lauder, SE Scotland, 175 m asl

    RBS is owned by George Osborne and there's an EUref coming.

    People frightened of an economic crisis don't vote for sudden changes that could cause or worsen an economic downturn.

    Also friends at RBS might make a bit on the side from short-selling if they cause a momentary dip in share prices.

    This is why US investment banks keep calling $10 oil imminently; they want to short on it to try and re-coup some of the huge loses they've made loaning to US shale.

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    Posted
  • Location: Stoke Gifford, Bristol
  • Location: Stoke Gifford, Bristol
    2 minutes ago, scottish skier said:

    RBS is owned by George Osborne and there's an EUref coming.

    People frightened of an economic crisis don't vote for sudden changes that could cause or worsen an economic downturn.

    Also friends at RBS might make a bit on the side from short-selling if they cause a momentary dip in share prices.

    This is why US investment banks keep calling $10 oil imminently; they want to short on it to try and re-coup some of the huge loses they've made loaning to US shale.

    Vince Cable on  Sky News right now.

    Doesnt paint a v good picture for North Sea oil co.s

    He reckons Saudi are the only country that can handle $10/barrel for a time, at least. They are trying to push out competitors.

    His main concern is the increasing levels of instability in the Middle East, partly because of oil.

    As for threat to Global economy it's real because of other factors, as well as depressed oil prices. Alex Brummer, DM City editor, has penned a fab article today on global economic threats.

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    Posted
  • Location: Near Lauder, SE Scotland, 175 m asl
  • Location: Near Lauder, SE Scotland, 175 m asl
    44 minutes ago, Bristle boy said:

    Vince Cable on  Sky News right now.

    Doesnt paint a v good picture for North Sea oil co.s

    He reckons Saudi are the only country that can handle $10/barrel for a time, at least. They are trying to push out competitors.

    His main concern is the increasing levels of instability in the Middle East, partly because of oil.

    As for threat to Global economy it's real because of other factors, as well as depressed oil prices. Alex Brummer, DM City editor, has penned a fab article today on global economic threats.

    Low oil prices are good for the Scottish economy and the economies of elsewhere. Just bad for the Aberdeen area and oil co's.

    And obviously countries dependent on oil. They're probably the concern. That or people are worried about really high oil prices. That's my worry and it might not be far away.

    Saudis were doing really nicely; not losing market share and getting $100 a barrel before they tanked the price. Makes me wonder if they want $200 a barrel or something. Send a few oil producing countries into economic collapse and start a wee war with Iran. Bingo! Price rockets.

    North Sea booms too I suppose would be the upside.

     

     

     

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    Posted
  • Location: Leeds/Bradford border, 185 metres above sea level, around 600 feet
  • Location: Leeds/Bradford border, 185 metres above sea level, around 600 feet
    8 hours ago, alexisj9 said:

    That's normal these days, my bank doesn't like small transactions at branches either. It's what cash machines were invented for.  

    Annual stock market performance does not always correlate with GDP growth very well. There's little evidence that GDP growth will fall below 2% which is the mark between weak and moderate growth for me.

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    Posted
  • Location: Powys Mid Wales borders.
  • Location: Powys Mid Wales borders.
    On ‎1‎/‎14‎/‎2016 at 0:07 PM, alexisj9 said:

    That's normal these days, my bank doesn't like small transactions at branches either. It's what cash machines were invented for.  

    That's the thing normal these days is insanity.

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    Posted
  • Location: Devizes Wiltshire
  • Location: Devizes Wiltshire

    FTSE 100 index dips into 'bear market' territory as oil price rout inflicts fresh share price falls on harried investors

    Footsie has touched low of 5,698.1 after a 180-point or 3% plunge

    Now 20% below April 2015's 7,103 high

     

     

    http://www.thisismoney.co.uk/money/markets/article-3408055/FTSE-100-index-dips-bear-market-territory.html

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    Posted
  • Location: Leeds/Bradford border, 185 metres above sea level, around 600 feet
  • Location: Leeds/Bradford border, 185 metres above sea level, around 600 feet

    On the basis of that article, no. Most of their reasoning surrounds the rate hike when actually most of the rout is due to the continued weakening of global trade and its impact on economies like China especially.

    Market corrections have occurred without substantial real world effects before, i'm not sure this one will be much different without a substantial change.

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    Posted
  • Location: Camborne
  • Location: Camborne

    Morocco to switch on first phase of world's largest solar plant

    Desert complex will provide electricity for more than 1 million people when complete, helping African country to supply most of its energy from renewables by 2030

    http://www.theguardian.com/environment/2016/feb/04/morocco-to-switch-on-first-phase-of-worlds-largest-solar-plant?utm_source=Daily+Carbon+Briefing&utm_campaign=6ac5f70ceb-cb_daily&utm_medium=email&utm_term=0_876aab4fd7-6ac5f70ceb-303447709

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    Posted
  • Location: Bramley, Hampshire, 70m asl
  • Location: Bramley, Hampshire, 70m asl

    Deutsche looking somewhat shakey. Statements about Deutsche being "Rock solid" ......make me twitchy!

    http://www.bbc.co.uk/news/business-35533460

    http://www.ft.com/fastft/2016/02/08/gloom-gathers-around-european-bank-shares-and-cds/

    CDS's approaching 2008 levels

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