August 3, 2012 0

Tomato, Tomahto

By News Desk

But is UAH measuring the heat content (in joules) with their MSU measurements?Because Christy says that joules is where it’s at in his Senate testamony afterall.Paging RP, Sr.Even though we may never have those types of measurements ever, given the depths of the oceans, the need to measure conductivity, temperature, depth, sampling rates, complete temporal and spatial coverage AND 3D velocities (to determine mixing rates and up/downwelling) throughout said depths, to accuracies such that the integrated OHC is known with error bars an order of magnitude or two, less than the magnitude of the rate of change in said OHC measurements?And that it will take an additional several decades to see potential significance in said OHC rate estimates. Or on a time span similar to our current best efforts using the century long (plus some) surface air temperature records.Or do we just look to the Wicked Witch of the East, who does say she is melting, and by all other accounts she does indeed seem to be melting?Something about a baby and its bath water comes to mind. Just sayin’

August 2, 2012 0

Draghi Hints at Bond Buying But Rules Out Banking License and Warns Governments Must Use EFSF/ESM, ECB Cannot Replace Governments; 10-Year Yield…

By News Desk

Here are some snips from ECB President Draghi Statement to Press Conference Based on our regular economic and monetary analyses, we decided to keep the key ECB interest rates unchanged, following the decrease of 25 basis points in July. As we said a month ago, inflation should decline further in the course of 2012 and be below 2% again in 2013. Exceptionally high risk premia are observed in government bond prices in several countries and financial fragmentation hinders the effective working of monetary policy.