Brilliant Bullshit!
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Tweet An old volcanologist by the name of Peter Ward is holding forth at various places on his theory of everything. Now Eli’s considered judgement is that, as Walter Hannah puts it "His Theory Is Garbage". But as Ray Pierrehumbert said some garbage is more amusing than others, mostly because it exposes things that have to be explained to the naive, and occasionally because the mistake is subtle enough to deepen Eli’s own thoughts about this and that. Hannah (and Eli) spot the G&T, a common mistake amongst phenominologists Greenhouse warming theory also assumes that the heated air radiates energy back to Earth’s surface, and that this return flow of heat energy warms Earth.
More here: VW faces the music (and just the first part)
Continued here: China Declares War on Currency Speculators; Interbank Yuan Rates Spike to Record High 13.4%
See original article: Hoisington 4th Quarter Review: Failure of the Fed, How QE Acts to Contract the Economy
China needs to prop up the yuan to slow capital flight.
Continue reading here: Chinese Markets Halted in 14 Minutes 17 Seconds, Equities Plunge Another 7.32%
Continued here: Former Dallas Fed Governor Richard Fisher Goes to Squawk Box Confessional: "We Frontloaded A Tremendous Market Rally"; Transcript…
Taken from: Government "Processing Error" Sinks Housing Reports for Entire Year; Where to From Here?