Daily Archives: August 31, 2016

New Zealand leads house price to income ratio across the OECD

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Source: IMF Global Housing Watch

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One Nation’s Malcolm Roberts is in denial about the facts of climate change

The Logical Place

The Conversation

John Cook, The University of Queensland

The notion that climate science denial is no longer a part of Australian politics was swept away yesterday by One Nation Senator-Elect Malcolm Roberts.

In his inaugural press conference, Roberts claimed that “[t]here’s not one piece of empirical evidence anywhere, anywhere, showing that humans cause, through CO₂ production, climate change”.

He also promoted conspiracy theories that the CSIRO and Bureau of Meteorology are corrupt accomplices in climate conspiracy driven by the United Nations.

His claims conflict with many independent lines of evidence for human-caused global warming. Coincidentally, the University of Queensland is releasing a free online course this month examining the psychology and techniques of climate science denial. The very first video lecture addresses Roberts’ central claim, summarising the empirical evidence that humans are causing climate change.

Consensus of Evidence (from Denial101x course)

Scientists have observed various human fingerprints in recent climate change…

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Central Banking Round-up

Cherokee Gothic

A couple of interesting papers on the evolution of central banking as well as a fun WSJ piece on how bombastic metaphors have taken over discussions of CB actions.

Calomiris, Charles ; Flandreau, Marc ; Laeven, Luc, “Political Foundations of the Lender of Last Resort: A Global Historical Narrative.” 

“This paper offers a historical perspective on the evolution of central banks as lenders of last resort (LOLR). LOLRs established prior to World War II, with few exceptions, followed policies that can be broadly characterized as implementing “Bagehot’s Principles” : seeking to preserve systemic financial stability rather than preventing the failure of particular banks, and limiting the amount of risk absorbed by the LOLR as much as possible when providing financial assistance. After World War II, and especially after the 1970s, generous deposit insurance and ad hoc bank bailouts became the norm. The focus of bank safety net policy changed…

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David Lloyd George and Herbert Asquith: Liberals at war

The History of Parliament

Inspired by the political upheaval in many of our political parties after the Brexit vote, we’ve been looking this summer at some historic party splits. In today’s blog we move into the 20th century, and the personal and political rivalry between two Liberal Prime Ministers that pulled their party apart…

At the declaration of war in August 1914, Herbert Asquith had been Liberal Prime Minister for six years. Together with his ‘fiery’ Chancellor, David Lloyd George, his government had passed the ‘People’s Budget’, introduced old age pensions and had reformed the House of Lords, in spite of troubles over Irish Home Rule, industrial unrest and electoral reform (in particular the campaign for votes for women). The government’s two leading figures were very different characters: Asquith the accomplished legislator, Lloyd George the populist, radical Welshman. By the end of the war, Lloyd George was Prime Minister leading a coalition…

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Bulk Battery Storage of Wind Power a Myth

STOP THESE THINGS

mythbusters2

In the fall-out over South Australia’s wind powered economic and social calamity, the line has been repeatedly spun about fixing the mess with ‘rapidly improving battery storage technology’.

It is little more than a ‘smoke and mirrors’ pitch by the wind industry, its parasites and spruikers, designed to deflect attention from the fact that wind power is meaningless as a power source, abandoned centuries ago for very obvious reasons – eg, SA’s wind power output during July:

SA Jul 16

Even if storing Terawatt/hours of electricity produced by these things – when it wasn’t needed, in order to deliver it when it might be – was technically possible the cost of the power delivered would be astronomical, as this little Mythbusting analysis makes plain.

The Holy Grail of Battery Storage
Energy Matters
Roger Andrews
18 August 2016

A recent Telegraph article claims that storage battery technology is now advancing so fast that “we…

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