Stacked

Tom Hunter's avatarNo Minister

While his competitors continue to fumble around with much delayed, modest successes like getting spaceships into sub-orbital flights, Elon Musk’s SpaceX corporation continues to power ahead with stuff that’s at least a decade in front of them, not to mention national space agencies like China’s and NASA.

Following the successful atmospheric test flight of Starship SN15 – after a few catastrophic landings for earlier models – the next test ship, SN16, was simply scrapped while work moved ahead on a sub-orbital / orbital test vehicle.

This is entirely in keeping with SpaceX’s iterative development process of rapid design-build-test prototyping.

Only a few days ago, it was observed that the Super Heavy Booster (formerly called the BFR), the 1st stage of the Starship system, had been moved to its launchpad in Texas.

But just the other day, it was seen that an actual Starship sub-orbital/orbital model, SN20, was lifted…

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What do finance academics/professionals think about climate finance?

They should found a hedge fund then to prove John Cochrane wrong when he testified that “But climate change poses no measurable risk to the financial system. This emperor has no clothes. “Risk” means unforeseen events. We know exactly where the climate is going over the horizon that financial regulation can contemplate. Weather is risky, but even the biggest floods, hurricanes, and heat waves have essentially no impact on our financial system.

Moreover, the financial system is only at risk when banks as a whole lose so much, and so suddenly, that they blow through their loan-loss reserves and capital, and a run on their short-term debt erupts. That climate may cause a sudden, unexpected and enormous economic effect, in the next decade, which could endanger the financial system, is an even more fantastic fantasy.

Sure, we don’t know what will happen in 100 years. But banks did not fail in 2008 because they bet on radios not TV in the 1920s. Banks failed over mortgage investments made in 2006. Trouble in 2100 will come from investments made in 2095. Financial regulation does not and cannot pretend to look past 5 years or so, and there is just no climate risk to the financial system at this horizon.”

Amol Agrawal's avatarMostly Economics

Johannes Stroebel & Jeffrey Wurgler survey 861 finance academics, professionals, and public sector regulators and policy economists about climate finance topics.

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Wind & Solar Storage ‘Fires Up’: Giant Battery Burns For Days After Terrifying Explosion

stopthesethings's avatarSTOP THESE THINGS

Giant lithium-ion batteries have an alarming habit of exploding and, when they do, literally burning for days.

Following up on our recent post concerning just such a case – where a Tesla mega-battery exploded in a toxic fireball in southwest Victoria – here’s a couple from the team at Jo Nova and Watts Up With That? that detail the aftermath.

The Tesla battery fire burned for longer than it operated for
Jo Nova Blog
Jo Nova
3 August 2021

We all heard about the Tesla Megabattery fire in Victoria last Friday, but you may not know it only started operating on Thursday night. Or that 30 fire trucks and 150 firefighters took 76 hours to get the blazing battery under control.

So it burned for three times longer than it operated.

When they burn, Tesla batteries produce smoke with aluminum, cadmium, arsenic, mercury, lead, selenium, manganese and chromium.

Luckily no…

View original post 798 more words

Thomas Sowell – Landmark Speech at AEI with President Gerald Ford

Perspectives on New Zealand immigration policy

Michael Reddell's avatarcroaking cassandra

Several years ago the Law and Economics Association hosted an event in Wellington in which the New Zealand Initiative’s Eric Crampton and I each told our stories about New Zealand immigration policy. My account is here, and a link to the talk I gave is here.

A few months ago a couple of Victoria University of Wellington academics responsible for a Masters class (in a programme I didn’t even know existed (Masters in Philosophy, Politics and Economics)) invited us to do something similar for their class. We did that today.

My text is here (if Eric chooses to link to his slides on his blog I will include a link) (UPDATE: link here). My focus was solely on the economic dimensions of immigration policy, and in particular on the implications for economywide productivity (as the best proxy for whether large-scale policy-led non-citizen immigration has been beneficial for…

View original post 1,306 more words

The Socialist Calculation Debate — Dr. Peter Boettke, 9/23/2013

David Friedman talks about possible futures on The Marketplace of Ideas (10/21/2008)

The EU’s vaccine failures will leave a toxic legacy

julianhjessop's avatarPlain-speaking Economics

This week it has been reported that the pharmaceutical giant AstraZeneca is ‘exploring options’ for its COVID-19 vaccine business, including a sale. This is not entirely surprising. The company has not traditionally focused on vaccines and its vital contribution to the fight against the coronavirus may never make a profit.

However, AstraZeneca’s experience still reflects badly on many politicians and policy-makers, especially in Europe. At every stage, certain national governments, and the European Commission itself, appear to have done their best to make life as difficult as possible for those trying to help.

Some mistakes were probably inevitable during the fog of the pandemic, and hindsight is a wonderful thing. The EU was not alone in messing things up either. The Australian government has also been widely criticised for ‘anti-AstraZenecism’ and for mixed messages about the safety of the company’s jab. The US authorities have been…

View original post 493 more words

Bryan Caplan – Poverty: Who Is To Blame

Daron Acemoglu: Optimal Targeted Lockdowns for COVID-19 in a Multi-Group SIR Model

Information Tribunal orders Committee on Climate Change to reveal Net Zero calculations

Permanent No-Hopers: Never-Reliable Wind & Solar No Match For On-Tap Coal-Fired Power

stopthesethings's avatarSTOP THESE THINGS

Virtue signalling anti-coal/pro-wind and solar groups are picking a fight they can only lose. NWO/NGOs have launched rabid attacks on any company with the temerity to back coalmining and/or coal-fired power.

The activists’ line goes that any company that isn’t telling its shareholders that coal and coal-fired power plants are already dead, is lying to them (and the market) and must be brought to book by the corporate regulator, ASIC.

In one targeted attack, a crowd using the entirely misleading moniker, ‘Market Forces’ -their methods and mantra are anything but – went after Australian coal miner, New Hope in an effort to spook its management, scare off shareholders and wreck its market value.  Doesn’t sound much like Adam Smith’s “invisible hand”, to STT.

Unlike plenty of other timid corporates, New Hope wasn’t going to be rattled by a bit of undergraduate ranting from wind and solar cultists.  Instead, New Hope…

View original post 1,186 more words

Origins of the Holy Roman Empire

Why Is Growth in Developing Countries So Hard to Measure?

Amol Agrawal's avatarMostly Economics

Noam Angrist, Pinelopi Koujianou Goldberg and Dean Jolliffe in the recent Journal of Eco Perspectives:

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One Hundred Years of Climate Change

gjihad's avatarGreen Jihad

Government temperature graphs have been altered and are not consistent with historical records. As Tony Heller explains, they are propaganda, not science.

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