Friday, November 29, 2013

"Biased BBC": Kirsty Wark's Newsnight

Is there some reason why Kirsty Wark's survey of tomorrow's front pages tonight, left out the most-read newspaper in Britain, the Daily Mail?

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Thursday, November 28, 2013

Kenya backs away from wind

From Bloomberg we hear Kenya is finding wind power too expensive :-

Kenya suspended issuing new licenses for wind farms and solar plants until 2017 as it prioritizes development of cheaper fuel-based sources to help cut electricity prices, Energy Secretary Davis Chirchir said.

The East African government plans to add at least 5,500 megawatts of power supply in the 40 months from September, more than quadrupling output from current installed capacity of about 1,700 megawatts mainly from rain-fed hydropower plants.

About 80 percent of that additional output will be tapped from facilities powered by coal, liquefied natural gas, and geothermal, Chirchir said in a phone interview on Nov. 25 from Nairobi, the capital. Wind and solar power will contribute a maximum of 15 percent of new supplies and projects already under way have filled that quota. Hydropower and diesel-fired sources will comprise the remainder, he said.

“The planned energy mix is what will give us the tariff and reliability of supply we want,” Chirchir said.


Energy Secretary Davis Chirchir has acted swiftly, at least compared to our lot here in the UK. Back in April when he was appointed to the post, Mr Chirchir said :-

Kenya is a country of great opportunities. We can’t be competitive if the cost of power is what it is today,” Mr Chirchir said Thursday after his nomination. “We shall ensure the power we give to Kenya is cheaper for them to be competitive.”

So - how do we swap Ed Davey for Davis Chirchir when the transfer window comes round? Obviously the UK would have to pay a substantial transfer fee, but how much? One hundred million sounds reasonable to me - cheap even.

All original material is copyright of its author. Fair use permitted. Contact via comment. Unless indicated otherwise, all internet links accessed at time of writing. Nothing here should be taken as personal advice, financial or otherwise. No liability is accepted for third-party content, whether incorporated in or linked to this blog; or for unintentional error and inaccuracy. The blog author may have, or intend to change, a personal position in any stock or other kind of investment mentioned.

Monday, November 25, 2013

The weirdness of unreason II

Another World - M C Escher - from Wikipedia

Have you ever tangled with the vexed problem of obviousness? Are some things so glaringly obvious as to leave you baffled when someone transcends the bounds of reason by taking a view contrary to your own? 

Do you occasionally find this kind of thing a little odd – even weird? We are after all, the same species. One might think we'd respond to reality in much the same way.

So in true Hollywood style, this is the second post of my weirdness of unreason franchise. By the way, why is a cinematic rehash called a franchise?

Anyhow, the first post was a kind of write-it-and-see test to see if reasons, concepts, ideas, explanations and arguments can be equated to allegiances. I think they can is the sense that something useful emerges from the idea even though our allegiances are bound to get in the way of knowing that useful something.

I suspect we cannot form ideas without framing them within some kind of validating allegiance.

Take politics for example. Those people with no particular allegiance to political abstractions will find it difficult to frame political opinions. Their vote will be dictated by other allegiances, however frustrating that may be for those who happen to have political allegiances.

Similarly with climate change. It isn’t so much a technical or scientific issue, as an issue about allegiance to abstractions within which the debate is always framed. Those who don’t share those allegiances tend to sit on the fence and see the issue as too complex for them to resolve. Maybe they merely lack framing allegiances.

So let us keep the focus on our allegiance to abstractions because they already have a well-known framing role.

We obviously have allegiances to numerous abstractions such as science, logic, equality, honesty, justice, peace, politics, beauty, reason, education, style, fashion, social mores, religion, what Mum always said, politeness, aesthetics, the rule of law and so on.

Unfortunately many claimed allegiances are false as we all know too well. Ideas supposedly bolstered by some authoritative allegiance but framed within in a different, covert allegiance designed to hide our endless primary allegiances to the usual suspects.

Me.
My career.
My inner circle.
My outer circle ...these are a few of my favourite things!

A good example is David Cameron’s strikingly crude offer of an EU referendum after the next election. His idea is far too obviously framed by allegiance to his future career while claiming a false allegiance to democratic ideals.

Claimed allegiance to abstractions is where the prim, prissy, supercilious, devious, dishonest and shamelessly unworthy frameworks of so many manipulative debates come from. Those we have to cope with every day of our lives.

As ever, behaviour highlights the deceit. As ever it isn’t enough if the deceit has powerful backing as we so often know to our cost.

A life not dominated by allegiances is an ideal never realised in the grit and grind of the real world. Maybe a life without allegiance would be akin to nirvana. Or maybe it would offer a glimpse of the eternal as Spinoza envisaged a blessed state of purely disinterested knowledge.

Unfortunately, in daily life every idea we have is framed by some allegiance or other. Including this one.

All original material is copyright of its author. Fair use permitted. Contact via comment. Unless indicated otherwise, all internet links accessed at time of writing. Nothing here should be taken as personal advice, financial or otherwise. No liability is accepted for third-party content, whether incorporated in or linked to this blog; or for unintentional error and inaccuracy. The blog author may have, or intend to change, a personal position in any stock or other kind of investment mentioned.

Sunday, November 24, 2013

Picture quiz


All original material is copyright of its author. Fair use permitted. Contact via comment. Unless indicated otherwise, all internet links accessed at time of writing. Nothing here should be taken as personal advice, financial or otherwise. No liability is accepted for third-party content, whether incorporated in or linked to this blog; or for unintentional error and inaccuracy. The blog author may have, or intend to change, a personal position in any stock or other kind of investment mentioned.

Friday, November 22, 2013

A passive disciple


A bear, who had worn himself out walking from one end of his cage to the other, addressed his keeper thus: 

“I say, friend, if you don’t procure me a shorter cage I shall have to give up zoology; it is about the most wearing pursuit I ever engaged in. I favour the advancement of science, but the mechanical part of it is a trifle severe, and ought to be done by contract.”

“You are quite right, my hearty,” said the keeper, “it is severe; and there have been several excellent plans proposed to lighten the drudgery. Pending the adoption of some of them, you would find a partial relief in lying down and keeping quiet.”

“It won’t do — it won’t do!” replied the bear,  with a mournful shake of the head, “it’s not the orthodox thing. Inaction may do for professors, collectors, and others connected with the ornamental part of the noble science; but for us, we must keep moving, or zoology would soon revert to the crude guesses and mistaken theories of the azoic period. 

And yet,” continued the beast, after the keeper had gone, “there is something novel and ingenious in what the underling suggests. I must remember that; and when I have leisure, give it a trial.” 

It was noted next day that the noble science had lost an active apostle, and gained a passive disciple.

All original material is copyright of its author. Fair use permitted. Contact via comment. Unless indicated otherwise, all internet links accessed at time of writing. Nothing here should be taken as personal advice, financial or otherwise. No liability is accepted for third-party content, whether incorporated in or linked to this blog; or for unintentional error and inaccuracy. The blog author may have, or intend to change, a personal position in any stock or other kind of investment mentioned.

Wednesday, November 20, 2013

Sparrowhawk kill



Spotted on the lawn this morning, a sparrowhawk standing in the remains of its breakfast, probably a dove.

Not a great picture, but I only have a cheap camera. 

All original material is copyright of its author. Fair use permitted. Contact via comment. Unless indicated otherwise, all internet links accessed at time of writing. Nothing here should be taken as personal advice, financial or otherwise. No liability is accepted for third-party content, whether incorporated in or linked to this blog; or for unintentional error and inaccuracy. The blog author may have, or intend to change, a personal position in any stock or other kind of investment mentioned.

Tuesday, November 19, 2013

The Co-operative: an announcement

Organisers of the Co-op's funeral service have asked for no Flowers. Donations may be made to a number of uncharitable funds instead.

All original material is copyright of its author. Fair use permitted. Contact via comment. Unless indicated otherwise, all internet links accessed at time of writing. Nothing here should be taken as personal advice, financial or otherwise. No liability is accepted for third-party content, whether incorporated in or linked to this blog; or for unintentional error and inaccuracy. The blog author may have, or intend to change, a personal position in any stock or other kind of investment mentioned.

Monday, November 18, 2013

North Korea chic

From telegraph.co.uk

From Elle magazine

North Korea Chic

Some iteration of the military trend stomps the runways every few seasons. This time, it's edgier, even dangerous, with sharp buckles and clasps and take-no-prisoners tailoring.

What does one say? Are they taking the p*ss?

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Selecting the shameless

Is it the case that only shameless spivs and crooks are able to withstand the intense, manipulative scrutiny of the internet age?

If so, is the internet weeding out principled people in favour of the shameless?

Maybe by our endless, web-enabled scrutiny of public life we are deselecting anyone with an ounce of moral awareness or a scintilla of self-knowledge. They are too wary of the ghastly, furtive dishonesty of it all.

The hide of a rhinoceros and the moral compass of a rattlesnake may not be what we want from our leaders, but perhaps the internet is ensuring we get exactly that. Or more than we had before at least.

The subtle power of a web-enabled selection process could have dangerous consequences if we don’t sharpen up in time for the dwindling number of meaningful elections we have left.

How many is that by the way? One? Two?

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EU for the confused

As we lurch ponderously towards another General Election - John Ward thinks it might be called early by the Tories - doubtless there will be renewed efforts to paint UKIP and other Eurosceptics as haters of foreigners, European culture etc. This infographic may help clear up the confusion:


And if the term "Little Englander" (original meaning: anti-Imperialist) is misused yet again, please apply the following test of discrimination to the offender:


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Sunday, November 17, 2013

Does economic recovery require inflation?

"Employing more folks who earn more produces inflation," says John Ward, and it's a brave man who takes him on... but... can I offer this and duck my head?

In the course of researching a piece last month about inflation, I came across this chart:


http://www.hist.umn.edu/~ruggles/hist5011/phelps-brown%20and%20hopkins.pdf

... and this information:

But the money system stabilised again by the late 17th century. The Bank of England's website has a page that lets you calculate cumulative inflation for any period from 1750 onwards. According to them, a basket of goods and services costing £1 in 1750 would have cost (the equivalent of) £1.80 in 1900 - an average annual inflation rate of 0.3%.

... from which I surmised:

That period covers the tremendous increase in productivity introduced by the Industrial Revolution and further late-nineteenth-century scientific and technological developments, so inflation is not needed for business and prosperity.

Indeed, it's possible that much of that 80% cumulative inflation over 150 years (1750 - 1900) could be attributed to war financing and profiteering e.g. during the conflicts with France.

So, do we need inflation at all?

More people making and selling more stuff and services may turn over more money, but then there's more for that money to buy, and more income and spending on which taxes can be levied.

So isn't deflation more about (a) wealth trickling - or rather gushing - up the social scale and then being socked away in investments rather than spent to stimulate domestic demand, and (b) the offshoring of production, whereby the poor of other countries do the work and the middlemen here (via entities that may be also sited offshore) taking much of the turnover as their profit, which leads us not back to doh but to (a)?

I tried to graph these putative connections in June last year as a reckless simultaneous opening of all the lock gates, thus:




Well, maybe I'm wrong.

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Saturday, November 16, 2013

Stockmarkets: when will the third shoe drop?

Pic source: http://thebeltwayboys.blogspot.co.uk/2005/06/waiting-for-other-shoe-to-drop.html

The stockmarket (Dow, FTSE) has halved twice since the beginning of 2000, bottoming in 2003 and 2009. Earlier this year I wondered when the next drop would come ("Killing the Small Investor",  28 June).

Since then I have read that banks are being asked to consider the effects on them of a 50% drop in equities; and now John Hussman (htp: Zero Hedge) is saying the same thing:

"I continue to believe that it is plausible to expect the S&P 500 to lose 40-55% of its value over the completion of the present cycle, and suspect that whatever further gains the market enjoys from this point will be surrendered in the first few complacent weeks following the market’s peak."

I have long been of that view, and in fact having worked for 20 years in the financial services industry my mindset now is that I don't trust it as far as I can throw it. The politicians have allowed - encouraged - the banks to pillage the economy with debt bubbles that give the temporary impression of prosperity, and now we're maxed-out, so after fraud will come outright robbery by inflation, confiscation or whatever.

Which is why the Chinese are piling up gold and Chinese rich are diverting their wealth into portable assets like fine art. In the short term - when the panic is on - these assets, too, may decline in value, but sooner or later the wretched, crooked game of pneumatic prices will resume.

Smart, daring, quick-handed investors may make a killing in the disruption - just selling at peak and buying at trough would have quadrupled the value of your equity holding since 2000 - but when the game is on some of the players may find they're not so fast and smart after all. Remember Jesse Livermore.

This is why I continue to campaign for a safe, government-guaranteed store of value, such as National Savings Index-Linked Certificates. There should - must, if government is to have any moral authority - be an option for those who don't wish to gamble and so cannot fairly be expected to suffer loss. US investors still have TIPS available. Even then, we shall have to watch out for attempts by the thieving swine to misrepresent price inflation.

They say you shouldn't give a price forecast and a time frame at the same time, but I'm getting the feeling from what I'm reading that the third shoe will drop to the bedroom floor within the next year.

Maybe that's why the intelligence services are spying on us all so assiduously. If you can't control the problem, control the customer.

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Friday, November 15, 2013

Council blocks payday loan websites


From the Derbyshire Times we learn:

A decision to block payday loan websites from all of a council’s 7000 computers has been met with approval.

Anyone trying to access lending sites from any of Derbyshire County Councils computers will instead be re-directed to sources of safe, affordable loans such as Credit Unions, financial support services and welfare rights advice.

The move will affect all of the computers owned by the council across the county including those in libraries and those used by its employees.


Well they are council-owned computers so it's up to them what they allow and what they block even though they are blocking access to a legal activity. 

Even so, I've no problem with it per se. It's the mission creep I don't like. It never ends, slithering into every nook and cranny of daily life.

All original material is copyright of its author. Fair use permitted. Contact via comment. Unless indicated otherwise, all internet links accessed at time of writing. Nothing here should be taken as personal advice, financial or otherwise. No liability is accepted for third-party content, whether incorporated in or linked to this blog; or for unintentional error and inaccuracy. The blog author may have, or intend to change, a personal position in any stock or other kind of investment mentioned.

Thursday, November 14, 2013

The weirdness of unreason

Another World - M C Escher - from Wikipedia

Have you ever been in a meeting where certain people seem absolutely set on dredging up every irrational argument they can think of?

Yes?

And apart from the frustration, do you ever find irrational ideas a little weird? How do we explain them for example - how do we picture what is going on in the irrational head?

Instead of thinking in terms of rational and irrational ideas, suppose we think in terms of allegiance - a personal allegiance to some social situation, trend, norm, cause or whatever. That something could be allegiance to a person, social group, project, profession, institution, fashion or any one of countless other possibilities.

It may be an allegiance to Arsenal Football Club, holistic therapy, quantum theory, yoga or a political party. There is no difference – it is all allegiance.

So there are no rational or irrational structures inside our heads. Reasons are essentially tactical and strategic. Beliefs may feel like a nexus of rational ideas but are nothing of the kind. Our beliefs and ideas are merely our allegiances expressed in all their infinite variety.

We are not rational, but merely complex, subtle, resourceful and often covert in expressing our allegiances. Reason is how we raise, gauge and foster support for those allegiances, but that’s all. There is no structure to reason other than the structure of allegiance. That’s why your reason can be my unreason.

We have differing allegiances – that’s all.

So we don’t think rationally or irrationally, but merely offer our allegiance to different social norms, situations and events from the trivial to the essentials of daily life. The central influences over these allegiances are numerous, from language to our personal welfare and the welfare of family, friends, business interests and so on and so on.

However, when it comes to less central concerns, many of us do not seem to have strong allegiances and are willing to probe them. Yet this probing, this apparent vacillation can seem odd and obstructive to those with a strong allegiance to a particular narrative or agenda. In my view this explains human intransigence quite well where the notion of reason and unreason does not.

Maybe this is the value of those of us who mistakenly see ourselves as rational. We are not so much rational as able to see the allegiances others skate over in their pursuit of an agenda. By not having strong allegiances ourselves, we are able to weigh their various claims, especially where popular allegiances are neither as beneficial nor as harmless as commonly assumed.

So rational behaviour is not so much an ability to apply reason, whatever that might be, as a reluctance to offer one’s allegiance without weighing the consequences. Often not even then.

All original material is copyright of its author. Fair use permitted. Contact via comment. Unless indicated otherwise, all internet links accessed at time of writing. Nothing here should be taken as personal advice, financial or otherwise. No liability is accepted for third-party content, whether incorporated in or linked to this blog; or for unintentional error and inaccuracy. The blog author may have, or intend to change, a personal position in any stock or other kind of investment mentioned.

Wednesday, November 13, 2013

Aqueduct Cottage

Aqueduct Cottage by Brian Cass

By the side of Cromford canal in Derbyshire is Aqueduct Cottage, a derelict canal keeper’s cottage occupied until the late fifties or early sixties.

The location is attractive, but there is no nearby road, no water, sewage services, electricity or gas supply. In other words, the cottage isn’t worthless because it is derelict, but derelict because by modern standards it is has become worthless.

In bygone times, the canal keeper who lived in Aqueduct Cottage would probably have used candles for lighting and logs from nearby woods for cooking and heating. He may also have bought supplies from passing boats and his water may have come from the nearby river. I don’t know about sewage disposal though – the canal?

Now the boats are gone and picturesque as this mode of life might be, it only appeals from the safe distance of modern comforts.

While out walking I’ve seen one or two derelict stone cottages in a similar condition and with similar problems. They became derelict because they are now worthless, not worthless because they are derelict.

It underlines how much the value of our homes depends on those essential services. Remove them and the value disappears as completely as it did for Aqueduct Cottage. Here it is in 1905 looking like a chocolate box idyll.



From Friends of Cromford Canal/Julie Simpson

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Monday, November 11, 2013

Upper class crime dwarfs underclass crime


In the last two posts, I hope I've shown that the incompetence and greed of the financial sector has recently cost more in money than all the crime in the UK put together, and thousands of innocent lives to boot. I don't suppose that the deaths were intentional, but there is such a thing as criminal negligence, and if bankers and traders don't understand what they're doing they shouldn't be doing it, any more than useless paediatric surgeons.

Why are there not mass trials for corporate manslaughter, and utterly crushing fines and compensation claims against the "too-big-to-fail" banks and their senior employees and directors? And why are they too big to fail? I don't see why we couldn't set up entirely new banks to do what the old ones did well, and not do the things they shouldn't have done. It's only the hope of future employment with these moral idiots that seems to stay the hand of the politicians.

So we now turn to the politicians, who directly or indirectly have given instruction and encouragement to the banks to simulate prosperity by inflating the money supply for decades. Let's compare murder rates, shall we?

The United Nations Office on Drugs and Crime counted 5,096 intentional homicides in the United Kingdom for the years 2004-2009. But as Peter Hitchens has often pointed out, the murder rate would have been much higher had it not been for great improvements in emergency medical treatment since the 1960s (when the death penalty was abolished), so let's boost this figure, say, tenfold, to 50,960.

Compare that with the toll of the Iraq invasion. Wikipedia gives a range of estimates, the lowest of which is 109,032 for the same period, i.e. 2004 - 2009 (the highest is over a million). Two-thirds of them are civilian, by the way.

Who bears the responsibility?

It's tempting to spread the blame - in Britain, the Cabinet and media boxwallahs like Alastair Campbell could be tarred with the same brush - but perhaps it helps narrow down the liability when you consider what might have happened had Prime Minister Blair told President Bush that the UK was not going to support military intervention. (Instead, as Peter McKay tells us today, "25 notes from then-president George W. Bush to Blair — and some 200 Cabinet- level discussions — have been withheld by No 10", so we are forced to draw our own inferences).

It's quite possible that absent Blair's buddyship, Bush might have stayed his hand. After all, look what happened when President Obama's finger had taken the trigger on Syria to first pressure but Prime Minister Cameron "got it" when his consultation of Parliament resulted in a "no". Gosh, how quickly the world's attention turned to other things, such as Miley Cyrus' arse.

So let's argue that Blair and Bush are jointly guilty of the low-estimate six-figure deaths. That makes 54,516 corpses each (assuming you don't accept that these politicians are jointly and severally guilty, which would double their butcher's bill).

Not intentional homicide? Whoever heard of a bloodless invasion of a major, modern-equipped Middle Eastern country? If B&B had been in the UK in the 1950s and killed a householder while burgling, they'd have swung. It's why criminals used to be very hard on any of their number who brought a shooter on a blag.

And that's just overt action. I suppose we'll never find out the whole truth about the covert operations that caused Arab nations, latterly Syria, to erupt in multivarious civil wars.

Blair - whose full name anagrammatizes satisfyingly as "born actor; lethally nannyish" - is a posh boy who went to a very posh school, where he learned how to escape the consequences of his actions by enlisting guardians. Bush is a millionaire former oilman and the son of a former US President. Leaving office and an economy heading for ruin, he handed what in rugby is known a "hospital pass" to the new guy (so which of them is the dumb one?)

So when reading or re-reading "Freakonomics", ponder who does more harm, the children of the poor or the scions of the Establishment.

All original material is copyright of its author. Fair use permitted. Contact via comment. Unless indicated otherwise, all internet links accessed at time of writing. Nothing here should be taken as personal advice, financial or otherwise. No liability is accepted for third-party content, whether incorporated in or linked to this blog; or for unintentional error and inaccuracy. The blog author may have, or intend to change, a personal position in any stock or other kind of investment mentioned.

Max Keiser's "financial terrorists": some statistics

Giotto: "Massacre of the Innocents" (1305)

Ever since 2008, econo shock jock Max Keiser has famously - and repeatedly - called bankers "financial terrorists". It's hard to assess the exact cost in human life because the causal chain is complex, but be assured that white-collar thieving and financial manipulation is not victimless.

For example, a study published this summer in the British Medical Journal estimates that nearly 5,000 suicides are indirectly attributable to the economic downturn.

Also this year, a paper by Friedman Schady at the World Bank looked at infant mortality in sub-Saharan Africa, and concluded that in 2009 alone there were an additional 28,000 - 50,000 infant deaths - mostly girls, by the way - because of the "bankers' global financial crisis". That's only one region, in only one year.

The Germans have a phrase: "Wehe, wehe!" - "Woe, woe!" - a lament, but also a warning.

All original material is copyright of its author. Fair use permitted. Contact via comment. Unless indicated otherwise, all internet links accessed at time of writing. Nothing here should be taken as personal advice, financial or otherwise. No liability is accepted for third-party content, whether incorporated in or linked to this blog; or for unintentional error and inaccuracy. The blog author may have, or intend to change, a personal position in any stock or other kind of investment mentioned.

Sunday, November 10, 2013

Abort the ruling class!

One of the more controversial chapters in "Freakonomics" (2005) suggested that abortion among the lower classes helped to reduce crime by killing off potential offenders in the womb (though pro-lifers now argue the opposite case). The authors hastened to repudiate the implication that this should influence public policy, but people do now sometimes cite that vicious factoid as a ho-ho response to the problems of our economy; if we were to take them seriously, then like King Herod, they would be prepared to kill a whole town's infants in order to nail the future threat represented by a single child.

But when considering crime and social class, we run into difficulties of definition with respect to crime. If the underlying principle of the common law is "do no harm", then whether by incompetence or callous negligence, far greater crimes have been committed by financial manipulators than by common criminals - and the former are not only unpunished, but continue to be unbelievably well-rewarded for it. Indeed during the emergency bailouts, some bankers got bumper bonuses because they included the bailout money as part of the turnover on which their payouts were based.

Looking at conventional crime, a Home Office study issued in 2000 estimated the total economic cost to the UK at £59.9 billion p.a (about £1,000 per head of population).:


http://webarchive.nationalarchives.gov.uk/20110218135832/rds.homeoffice.gov.uk/rds/pdfs/hors217.pdf
 
http://webarchive.nationalarchives.gov.uk/20110218135832/rds.homeoffice.gov.uk/rds/pdfs/hors217.pdf

Compare that with the IMF's 2009 estimate of the cost to the UK of the 2008 banking crisis: £1,227 billion; the equivalent of some £20,500 per man, woman and child in this country - in one year! Not to mention the £375 billion p.a. "quantitative easing" still ongoing.

We can also ask, how do we define cost? John Mortimer's fictional barrister Horace Rumpole points out that criminals make a good living for professionals like himself. GDP, employment and tax revenues (though not real net wealth) are increased by all this economic "activity". But how much prosperity and employment did the financial rescue create? Not that it is actually a rescue: I suspect that disaster has merely been deferred, and possibly exacerbated to boot.

I do not support abortion; but if I did, I should rather be looking to terminate potential bankers than potential burglars.

All original material is copyright of its author. Fair use permitted. Contact via comment. Unless indicated otherwise, all internet links accessed at time of writing. Nothing here should be taken as personal advice, financial or otherwise. No liability is accepted for third-party content, whether incorporated in or linked to this blog; or for unintentional error and inaccuracy. The blog author may have, or intend to change, a personal position in any stock or other kind of investment mentioned.

Saturday, November 09, 2013

Great God! this is an awful place

Do Captain Scott’s words chime with you? They certainly do with me. I can’t read anything about the Antarctic without being reminded of his ill-fated expedition to the South Pole. Beryl Bainbridge wrote a fine novel about it called The Birthday Boys. Worth reading if you come across a copy.

From Wikipedia

For this and other reasons, Antarctic sea ice extent is one of the parameters I keep an eye on in my fruitless desire to anticipate the global climate’s next move.




So this chart of Antarctic sea ice extent concerns me a little, but it’s an emotional concern all concerns must be. As you see, Antarctic sea ice has been spending quite a bit of time well above the 1981-2010 average.

Is it a herald of anything? Well for me there is something awesome and scary about the Antarctic, much of it deriving from Scott’s words and what we know of that tiny tent where he finally succumbed only eleven miles short of One Ton Depot and safety. Defeated by hunger, exhaustion and the implacable cold of the Antarctic.

My head says it doesn’t mean much in terms of climate change and it probably doesn’t, but my heart says keep an eye on it all the same.

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Agribusiness: the Skynet moment...


All original material is copyright of its author. Fair use permitted. Contact via comment. Unless indicated otherwise, all internet links accessed at time of writing. Nothing here should be taken as personal advice, financial or otherwise. No liability is accepted for third-party content, whether incorporated in or linked to this blog; or for unintentional error and inaccuracy. The blog author may have, or intend to change, a personal position in any stock or other kind of investment mentioned.