Armstrong Economics Blog/Dow Jones
Re-Posted Sep 22, 2017 by Martin Armstrong
QUESTION: Hi Martin,
QUESTION: Hi Martin,
QUESTION: Marty,
I’ve been looking at the Year Without a Summer on Wikipedia and read that there was a cooling trend prior to the winter-like conditions during the summer of 1816. It mentioned that it affected the northeast. Also that the reason for the cooling trend is associated with the volcanic activity prior to and including 1816 and the reduction in solar output. The article also mentions that from 1628-1626BC that there was another climate disturbance, Minoan eruption of Santorini. Looking at 1628BC to 1816AD and using 3141.592 days/cycle results in 400.13 cycles. Using 1628BC and projecting it 424 cycles puts us around 2021.42. Knowing from history how this climate disturbance affected the Northeast, is that one of the reasons why you moved from New Jersey to sunny Florida, besides the hunt for taxes in NJ?
ANSWER: Yes, Add the 300 year cycle in the energy output of the sun and we see that we are headed into a cold period. This should also result in a commodity cycle boom going in the next 8.6 year wave into 2024.
QUESTION: There is a new trend that central banks are investing in the stock markets Is this true? What is the impact of this move?
ANSWER: Yes. The reason has been rather straight forward. The only game in town has been US government bonds. Many have seen this as a problem the defeats diversification. Consequently, there has been a major effort to attempt to diversify into the private sector when there has been such uncertainty in the public sector. Behind the Curtain many are simply asking of Europe: What the hell is going on? This has been a “euro crisis” that simply never seems to end. What has happened to Greece, Portugal, Italy, Spain, Holland and now even France. Many outside of Europe are simply asking has Europe just lost its mind? Hence, there has been a move to diversify out of government debt by central banks themselves.
Spain has invaded Barcelona sending in an army of 16,500 as pretend riot police to effectively suppress and intimidate the people. Armed police have seized almost 10 million ballots for the referendum to shut down any democratic process showing the entire world that Spain is still fascist and that is really supported by Brussels. The Spanish police have beaten citizens as if this were some third world dictatorship demonstrating the democracy is truly dead in Europe.
Catalonia represents a fifth of Spain’s 1.1-trillion-euro ($1.32 trillion) economy and enjoys wide self-government, although key areas such as infrastructure and taxes are in the hands of central authorities. The region has about 5.5 million eligible voters.
The Spanish police have raided several print works and newspaper offices in Catalonia hunting for voting papers, ballot boxes and leaflets to be used in an October 1st independence referendum which Madrid vehemently opposes. Madrid has revealed its true nature to the entire world on center stage and this is starting to show up in our models for Europe. The Global Market Watch picked up patterns yesterday warning that there is trouble in the wind.
Thousands have taken to the streets in protest of what is clearly a full blown restoration of Spanish fascism. Meanwhile, shorting Spanish bonds has been outlawed. The free markets have been utterly destroyed. The ECB is buying all Spanish debt trying to pretend that confidence in Spain is strong. Clearly, any institution holding Spanish debt at this point should sell it to the ECB before it is too late.
The EU is starting to shape up as you can check in, but you cannot check out. This is certainly more of a fascist system than democratic. This is reflecting the serious political issues for the EU looking into the next few years.
Afghanistan President Ashraf Ghani delivered remarks today at the U.N. discussing the difference between U.S. President Donald Trump’s current strategy and the failed policy of former President Obama.
Two key differences underline the optimism of Ghani: #1) President Trump listened to what the region needed for stability; and #2) The Trump Doctrine of appropriately placing responsibility on Pakistan due to their enabling conduct with the extremist Taliban.
(Reuters) – Afghan President Ashraf Ghani said on Wednesday that U.S. President Donald Trump’s strategy to win the war in Afghanistan will work where his predecessor’s failed because the Afghan army is stronger and Trump wants a regional approach and a harder line with Pakistan.
Ghani also said that former President Barack Obama “did not have a partner in Afghanistan,” implicitly criticizing former Afghan President Hamid Karzai, who frequently disdained U.S. policy and the U.S.-led international military force.
“President Trump is not just an individual (but) a team of partners in Afghanistan,” Ghani told the Asia Society in New York, where he is attending the U.N. General Assembly. “The Trump administration’s strategy has the uniqueness of immense consultations with us.”
At the same time, Ghani said, Obama’s decision to maintain some U.S. forces in Afghanistan “ensured our survival” despite advances by Taliban insurgents.
U.S. Defense Secretary Jim Mattis said on Monday that more than 3,000 additional U.S. troops are being deployed to Afghanistan under the new strategy announced last month. The number of U.S. forces would rise to more than 14,000, compared to a high of more than 100,000 under Obama.
While providing few details, Trump pledged stepped-up operations against the Taliban and an open-ended commitment of U.S. military advisers, trainers and counter-terrorism units.
He also vowed to take a tougher line to end what U.S. officials say is Pakistan providing refuge and other support to the Taliban and other extremist groups. Pakistan denies the charge.
Asked how Trump’s strategy differs from Obama‘s, Ghani said Trump’s plan takes “a regional approach” to security and a harder line with Pakistan while providing a new opening for peace talks.
“The message to Pakistan to engage and become a responsible stakeholder in the region and in the fight against terrorism has never been clearer,” Ghani said. “What I am offering the Pakistan government, the Pakistan security apparatus, is the invitation to a comprehensive dialogue.”
“If Pakistan does not take this opportunity, I think they will pay a high price,” he said, without elaborating. (read more)
The Spanish government refuses to listen to anything from Catalonia and announced it would intervene in Catalonia’s finances to ensure that “not one euro” of public money was used to fund the “illegal” vote. Meanwhile, the Spanish police arrested 13 people in the region of Catalonia and Madrid for their alleged involvement in planning a vote to secede from Spain. This is clearly demonstrating that the Spanish government is reverting to its old fascist ways for it is the boldest move yet by Spanish authorities to stop the separatist movement.
It was 1931 when the nations defaulted on their debts that saw Estat Català and other parties began to form Esquerra Republicana de Catalunya (Republican Left of Catalonia)(ERC). The ERC won a dramatic victory in the municipal elections that year and this is when we must regard the first major step in the separatics movement.
Francesc Macià founded Estat Català (Catalan State) and proclaimed the Catalan Republic. However, after negotiations with the leaders of the new Spanish Republic, he instead accepted autonomy within the Spanish state. In the Spanish Civil War, General Francisco Franco abolished Catalan autonomy in 1938. Following Franco’s death in 1975, Catalan political parties concentrated on autonomy rather than independence.
To put this in context, it was 1931 which gave birth to the Second Republic of Spain on April 14th, 1931 after the departure from Spain of King Alfonso XIII, following local and municipal elections where republican candidates won the majority of votes in urban areas. Though Alfonso did not formally abdicate, his departure from the country led to a provisional government under Niceto Alcalá Zamora. It was at this time that a constitution was drawn up.
The Second Republic of Spain in 1931 raised the hopes for the Spanish people that the middle and lower classes would be allowed to at last advance. This included at the time women rights and for the curtailment of special privileges for the Church. It was Spain’s attempt to establish a non-religious basis for national culture and citizenship.
Nonetheless, there was the largest working-class party that was the Socialists. Their principal goal was Marxist-inspired economic and social change, but they strongly favored a republic. The situation changed dramatically on May 10, 1931, as a result of the “Burning of Convents”. The provisional government of the Second Spanish Republic had little interest in restraining manifestations of anticlericalism, as became apparent shortly after the proclamation of the Republic. Many of the new political leaders were openly anti-Catholic. So we had at this time a growing Marxist movement in Spain as well. Then on May 10th, 1931, the playing of the monarchist anthem or hymn at a royalist club in Madrid provoked an attack by supporters of the Republic that soon degenerated into three days of violence directed primarily against churches, convents and monasteries. Rioting soon spread from Madrid to Seville, Malaga and four other cities. The government at first did nothing to quell the growing violence. This fragmentation would lay the foundation for the rise of Franco and the Civil War.
The Spanish Constitution of 1931 was approved by the Constituent Assembly on December 9th, 1931. It remained in force only until April 1st, 1939. This was the second period of Spanish history in which both head of state and head of government were democratically elected.
The planned referendum will take place on October 1st. Madrid refuses to address any issues despite the Catalan President and the mayor of Barcelona appealing for an agreement on a vote and issuing “a new call to dialogue” without preconditions. The 1931 movement for independence was the watershed moment. Cyclically, this is now 86 years in 2017. There is no question that independence will eventually succeed, but this is also coming at a critical time to try to save the EU. Cyclically, this is simply right on time 2017.
A comment from a reader in Barcelona says it all how memories still run deep:
The headline in the London Times: “We were wrong — worst effects of climate change can be avoided, say experts Scientists admit that world is warming more slowly than predicted.” The analysis of Global Warming has been the one of the greatest absurd propositions of modern times. With a tiny fraction of data on climate from 1850 forward, the argument that man has created global warming is as absurd as looking at the Dow Jones Industrial Index for one month and concluding that it only rises. There has been a climate cycle to the arctic that has been reported all along. There was a warming period in 1939 and again in 1952 reported in newspapers of how Greenland was melting. They there have been periods of expansion of ice as we have see this past year. The bottom line – it’s just a cycle and we lack the ability to alter the climate of the earth. Pollution is a separate and distinct issue. Creating smog or polluting a lake is certainly within our capacity. But changing the climate of the earth is far removed from the ability of humankind. Even nuclear bombs and accidents do not alter the climate.
QUESTION: I notice you often cite the *Plaza Accord* when on the topic of central bank currency manipulation. That accord was signed in 1985 with an aim to devalue the USD. Could you write a little on the *Louvre Accord” signed just two years later, in 1987, with an aim to reverse the unwanted effects of the *Plaza Accord*. Thanks – cheers,
TGM
ANSWER: The Louvre Accord was an agreement, signed on February 22, 1987 in Paris, that aimed to stabilize the international currency markets and halt the continued decline of the US Dollar caused by the Plaza Accord. The agreement was signed by France, West Germany, Japan, Canada, the United States and the United Kingdom. Italy declined to sign the agreement.
The G7 meeting of central bankers and finance ministers in Paris announced that the dollar was now “consistent with economic fundamentals.” The announced that they would only intervene when required to ensure foreign exchange stability. The objective was then to manage the floating currency system. Democrats gained control of Congress in 1986 and immediately called for protectionist measures. The dollar depreciation agreed to in 1985 at the Plaza Accord, failed to really improve the trade perspective. In 1986, the trade deficit actually rose to approximately $166 billion with exports at about $370 billion and imports at about $520 billion. The object of manipulating currency to try to create jobs and alter trade flows proved to be completely false.
My concerns warning that volatility would increase made back in 1985 were materializing. What they did not understand was the lowering the dollar in value also led to a shift in capital flows and the selling of US assets. Foreigners were suffering loses by financing U.S. trade through purchasing United States Treasury bonds in an attempt to ease the trade deficit criticism. We were advising Japanese to buy gold on the New York COMEX, export it, and then resell which would also make it appear that the US exports were increasing. However, the lower dollar was then resulting in the importation of inflation into their own nations.
We can see that first of all the dollar had already begun a decline prior to the Plaza Accord in August 1985. By the time we arrived at the Louvre Accord, you can also see that the dollar continued to decline. The attempt to manipulate the foreign exchange markets proved to beyond the capacity of the G5 which had been expanded to G7 and today is now G20. We can see the capital flow data between the USA and Japan began to move in early 1984 establishing the trend that nobody seemed to pay attention to at that moment.
The price action of the dollar clearly proves that the central banks lacked the power to truly influence the markets. The trend had begun prior to the Plaza Accord and it continued to decline following the Louvre Accord.
The analysis and plots shown here are based on the following two data series. First NASA-GISS estimates of a global temperature shown as an anomaly (converted to degrees Celsius) as shown in their table Land Ocean Temperature Index (LOTI) and shown in the following Chart as the red plot labeled NASA. This plot is shown as a twelve month moving average to minimize the large monthly swings and better show trends; the scale for the temperatures is on the left. Second NOAA-ESRL Carbon Dioxide (CO2) values in Parts Per Million (PPM) which are shown in the following Chart as a black plot labeled NOAA. This plot is shown exactly as the data from NOAA is presented and there is no need for a moving average the scale for CO2 is shown on the right.
NASA published data as stated in the first paragraph is shown as an anomaly, but what is a temperature anomaly? An anomaly is a deviation from some base value normally an average that is fixed. There were two problems with the system that NASA picked which were number one there is no “actual” global temperature and two since climate is a variable there cannot be a real base to measure from. NASA known for its science and engineering expertise back in the day thought it could get around these issues and created a system to do so. First they developed a computer model which took readings from all over the planet and made significant adjustments to them called homogenization and came up with the estimated global temperature. Second they picked the period 1950 to 1980 (30 years) and averaged the values and came up with 14.00 degrees Celsius and make that their base. Then they took the calculated temperature and subtracted the base from it which gave them the anomaly. The problem is that both the base and the anomaly are arbitrary.
Now that we have a base to work with we are going to add to the previous Chart three things. The first is a trend line of the growth in CO2 since that is the entire basis for climate change according to the government through NASA and NOAA. That plot is superimposed over the black plot of the actual NOAA CO2 values as the cyan line labeled as the CO2 Model and one can see there is a very good fit to the actual NOAA values so there should be no dispute about its validity. This plot allows us to make projections to future global temperatures according to the projected level of CO2 . The second added item is James E. Hansen’s Scenario B data, which is the very core of the IPCC Global Climate models (GCM’s) and which was based on a CO2 sensitivity value of 3.0O Celsius per doubling of CO2. This plot is shown here in lavender and is part of a presentation that Hansen showed to congress in 1988 when the UN was about to set up the International Panel on Climate Change (IPCC) and this plot is labeled as Hansen Scenario B which Hansen stated was the most likely to happen based on his theories’. The third item is the current plot of the most likely temperature of the planet based on the growth of CO2 published by the IPCC. This plot is shown in Red and is labeled as IPCC AR5 A2 as that is the table where the data was found. This plot is a GCM computer projection of the planets temperature based on the complex relationships developed on the levels of CO2 by the IPCC primarily though NASS and NOAA.
It can be seen in this Chart that the lavender plot and the Hansen plot are very close from 1965 to around 2000 after that, from 2000 to 2014, there is a very large and growing deviation reaching close to .5 degrees Celsius in 2014, which is not an insubstantial number. Also of note is that there doesn’t seem to be a good correlation between the growth in CO2 and the increase in the planets temperature. The CO2 is going up in a log function and the Temperature was going down in a log function until recently where it reversed in 2015 and is now going up in a log function. That unexplained and major change in temperature direction appeared to have occurred between 2013 and 2014 and is the subject of this monthly paper.
The next Chart is developed from the raw data from NASS and NOAA as shown in the first Chart. This plot was made first by adding ten years blocks of temperature and CO2 as indicated in the Chart and diving by 120 to give an average for each. Then the average Temperature was divided by the average CO2 to give degrees of temperature increase per PPM of CO2. After that was plotted it appeared that there were two different curves. the first was from block 1965-1974 through block 2004-2014 shown as Black Dots and the second was from block 1995-2004 through block 2005-2016 shown as Black Dashes. When trend lines were added they were both almost perfect fits to the raw data and so you cannot see the data points very well on the Chart. These blocks were picked to represent the entire period of time where we had both NASA temperature data and NOAA CO2 levels.
On the following Chart are two sets of color coded information. The first is Cyan plot and the Cyan box with the equation in it along with the R2 value of 1.0 are for the first series from block 1965-1974 through block 2004-2014. The other is the Red plot and the Red box with the equation in it along with the R2 value of 1.0 which are for the first series from block 1965-1974 through block 2004-2016. We can speculate on how this change has happened but it cannot be said that the plot change is not real; however additional data over the next few years will be required to actually prove that something has changed.
In summary the Cyan data set indicates a diminishing effect of CO2 on global temperature for about 54 years and the Red data set represents an increasing effect of CO2 on global temperature for the past 2 years. Since both data sets have an R2 value of 1.00 the trend lines cannot be in question.
Before we get into a possible explanation to the drastic change from the Cyan data to the Red data that occurred in 2014 we need to consider other factors than CO2 on Climate change. The fault that occurred in the work that was done in the 1980’s was in assuming that there was an optimum or constant global temperature and therefore any change that was being observed was from the increasing amount of CO2 in the atmosphere. There may have been correlation but it was never proved that there was causation (high R2 value) between CO2 and global temperatures. With that assumption, which limited options, we moved from true science into the realm of political science. True science has an open mind and finds relationships that work in matching observations with predictions. Political science changes history and/or facts to match the desires of the politicians. Since the politicians control the money political science is what we get; which means that what we get may not be technically correct.
A decade ago when I started looking at “climate” change the first thing I did was look at geological temperature changes since it is well known that the climate is not a constant; I learned that 52 years ago in my undergrad geology and climatology courses in 1964. The next paragraph explains currently observed patterns in climate related to this subject and is historical accurate.
Ignoring the last Ice Age which ended some 11,000 years ago when a good portion of the Northern hemisphere was under miles of ice the following observations give a starting point to any serious study on the subject of climate. First, there is a clear up and down movement in global temperatures with a 1,000 some year cycle going back at least 3,000 to 4,000 years; probably because of the apsidal precession of the earth’s orbit of about 20,000 years for a complete cycle. However about every 10,000 years the seasons are reversed making the winter colder and the summer warmer in the northern hemisphere. 10,000 years from now the seasons will be reversed again. Secondly, there are also 60 to 70 year cycles in the Pacific and the Atlantic oceans that are well documented. These are known as the Atlantic Multi Decadal Oscillations (AMO) in the Atlantic and as La Nina and El Nino in the Pacific. Thirdly, we also know that there are greenhouse gases such as carbon dioxide that can affect global temperatures. Lastly the National Academy of Sciences (NAS) estimated that carbon dioxide had a doubling rate of 3.0O Celsius plus or minus 1.5O Celsius in 1979 when there were only two studies available and one for sure and maybe both were not peer reviewed.
The result of looking objectively at the three possible sources of global temperature changes was a series of equations based on these observations that when added together produced a sinusoidal curve that seemed to follow NASA published temperatures very closely when first developed in 2007. Since this curve was based on observed temperature patterns it was called a Pattern Climate Model (PCM) which has been described in previous papers and posts on my blog and since it is generated by “equations” many assume it is some form of least squares curve fitting, which it is not. It does seem to be related to ocean currents where the bulk of the planet’s surface heat is stored.
The following Chart shows the PCM which is a composite of two cycles and CO2. There is a long trend, 1036.7 years with an up and down of 1.65O Celsius (.00396O C per year) also observed in the NASA data as the base. Then there is a 69.1 year cycle that moves the trend line up and then down a total of 0.29O Celsius and we are now in the downward portion of that trend (-.01491O C per year) which will continue until around ~2035. This short cycle is clearly observed in the raw NASA data in the LOTI table going back to 1880. Lastly, there is CO2 currently adding about .0079O Celsius per year so together they all basically wash out at -.0039O C per year, which matched the current holding pattern we were experiencing until 2014. After about 2035 the short cycle will have bottomed and turn up and all three will be on the upswing again duplicating what was observed in the 1980’s. Note: the values shown here are only representative as the actual model uses many more places than what are shown here.
When using the 12 month running average for global temperatures up until 2014 the PCM model was within +/- .01 degrees of what NASA was publishing in their LOTI table since the early 1960’s as shown in the next Chart. Further the back projection of the PCM plot matched historical records and global temperatures going back past the time of Christ. It should also be consider that geologically CO2 levels have reached levels many times that of the current 400 ppm without destroying the planet so the current hysteria over the current small numbers can only be explained by political science not real science.
The nest step in this analysis is to put all of the known data and projections into one Chart which will contain: NASA’s table LOTI global temperature estimates, NOAA’s actual CO2 values, the CO2 model projections, the PCM model global temperature plot, Hansen’s Scenario B 1988 global temperature plot, and lastly the IPCC AR5 A2 global temperature plot. With that done we can look at the results and try to make some sense of what is going on with the various arms of the federal government that are promoting that carbon based fuels be eliminated since they are responsible for the global temperature level going up. As previously started when the government pours money into the sciences the sciences respond with technical papers the support the governments views, this is what I call political science verses real science as was done prior to the 1980’s; money talks and BS walks as everyone on the street knows. This Chart views a good overview of the current situation showing all the facts and all the projections.
This Chart contains no manipulation of the data and the only change that was made was to convert the NASA anomalies back to degrees Celsius to make it more readable to lay people. This is only a change in units and has no bearing on the look. A subject not broached here is that of the NASA homogenization process itself and the base period from 1950 to 1980. The portion in the black circle contains the NASA base period of 14.00 degrees Celsius and the reason it’s brought up here is that the Homogenization process causes the global temperatures to move around since the entire data base all the way back to 1880 is recalculated each month. But since the base has to stay at 14.00 degrees Celsius the program must be set to not allow changes in that period of time. I’m sure the programmers have fun with that. Prior work here has shown how this creates a teeter totter effect with the data plots, some of which have recently been significant.
The next Chart will be a look at the period from 2010 to 2020 so we can see the detail of the past few years where a change in CO2 of only a few ppm has caused a major change in the global temperature way beyond anything previously shown in any published NASA data. There are two black ovals on the Chart one at the top of the Chart which is a black oval around the CO2 levels for 2012, 2013, 2014, 2015 and part of 2016 and it’s very obvious that there has been very little change, maybe 7 ppm or about 1.9%. Then at the bottom of the Chart is another black oval around the NASA global temperature levels for 2012, 2013, 2014, 2015 and part of 2016 and its very obvious that there has been a very large change, almost .50 degrees Celsius or about 3.1%. There has never been such a large increase in temperature from such a small increase in CO2.
By contrast the previous comparable period of the last part of 2010 through 2013 shows about the same increase for CO2 at 1.1% but no increase for global temperature but actually small decrease. Worse it appears that this current strange upward trend will continue as the values shown here are based on a 12 month moving average and the current values being published by NASA were unusually high starting in 2014 and therefore I expected the NASA plot to be well over 15.00 Celsius before the end of 2015 and that is exactly what happened. After COP21 the need for Fake Warming was no longer needed and so we are now seeing a downward trend developing. With the new administration we may see the end of data manipulation from NOAA and NASA and a return to real science political science.
In summary, the IPCC models were designed before a true picture of the world’s climate was understood. During the 1980’s and 1990’s CO2 levels were going up and the world temperature was also going up so there appeared to be correlation and causation. The mistake that was made was looking at only a ~20 year period when the real variations in climate all move in much longer cycles of decades and centuries. Those other cycles can be observed in the NASA data but they were ignored for some reason. By ignoring those trends and focusing only on CO2 the models will be unable to correctly plot global temperatures until they are fixed.
Lastly, the next chart shows what a plot of the PCM model, in yellow, would look like from the year 1400 to the year 2900. This plot matches reasonably well with recorded history and fits the current NASA-GISS table LOTI data, in red, very closely, despite homogenization. I understand that this model is not based on physics but it is also not true curve fitting. It’s based on observed reoccurring patterns in the climate. These patterns can be modeled and when they are, you get a plot that works better than any of the IPCC’s GCM’s. If the conditions that create these patterns do not change and CO2 continues to increase to 800 ppm or even 1000 ppm than this model will work well into the foreseeable future. 150 years from now global temperatures will peak at around 15.750 to 16.000 C and then will be on the downside of the long cycle for the next ~500 years.
The overall effect of CO2 reaching levels of 1000 ppm or even higher will be about 1.50 C which is about the same as that of the long cycle. The Green plot on the Chart shows the observed pattern with no change in CO2 from the pre-industrial era of ~280 ppm. CO2 cannot affect global temperatures more than 1.500 C +/- no matter what the ppm level of CO2 is. The reason being that the CO2 sensitivity value is not 3.00 per doubling of CO2 but under 1.00 C per doubling of CO2 as shown in more current scientific work.
The purpose of this post is to make people aware of the errors inherent in the IPCC models so that they can be corrected.
The Obama administration’s “need” for a binding UN climate treaty with mandated CO2 reductions in Europe and America was achieved as predicted at the COP12 conference in Paris in December 2015. To support this endeavor NASA was forced to show ever increasing global temperatures that will make less and less sense based on observations and satellite data which will all be dismissed or ignored. Within a few years the manipulation will be obvious even to those without knowledge in the subject, but by then it will be to late the damage to the reputation of science will have been done.
In closing keep this in mind. The current panic generated by the government using political science is that the current global temperature of around 15.0O Celsius is an increase of 7.14% from the 1960’s when the global temperature was 14.0O Celsius; and that does seem like a lot. However those views would be in error as the actual increase in thermal energy, as measured by temperature, would be only .35% because we must use Kelvin not Celsius when working with heat energy. When we use kelvin the temperature goes from 287.15O K to 288.15O K which is only .35% not 7.14% about 1/20 of what is implied by the IPCC.
Sir Karl Raimund Popper (28 July 1902 – 17 September 1994) was an Austrian and British philosopher and a professor at the London School of Economics. He is considered one of the most influential philosophers for science of the 20th century, and he also wrote extensively on social and political philosophy. The following quotes of his apply to this subject.
If we are uncritical we shall always find what we want: we shall look for, and find, confirmations, and we shall look away from, and not see, whatever might be dangerous to our pet theories.
Whenever a theory appears to you as the only possible one, take this as a sign that you have neither understood the theory nor the problem which it was intended to solve.
… (S)cience is one of the very few human activities — perhaps the only one — in which errors are systematically criticized and fairly often, in time, corrected.
Cycle targets that we provide are TURNING POINTS. This means an event normally takes place at that time be it a high or low. If ideally something should produce a low but does not and produces a high, it is typically extending the cycle to the next TURNING POINT. It looks at this time that the next important turning point is the week at the start of Sept. There is of course the Fed meeting. But then there is trouble among debt ridden nations and then there is Iran.
Keep in mind that for some strange reason, geopolitical events tend to also happen in the Aug/Sept time frame. Besides war, there was even 911. On 28 June 1914, Archduke Franz Ferdinand of Austria was assassinated. World War I began officially 28 July 1914 and lasted until 11 November 1918. It was August when things really got underway. World War II began when Germany attacked Poland on September 1, 1939. Most stock market crash events take place after highs in early Sept such as 9/3/1929. Even the 1987 Crash 10/19/1987.What it is about this time of the year who knows. Where December is the time to be jolly, Sept is the time for chaos. Never look for a particular event high/low. It is a TURNING POINT that sometimes can invert and produce the opposite largely because everything is connected. It is always an action/reaction.
I have created this site to help people have fun in the kitchen. I write about enjoying life both in and out of my kitchen. Life is short! Make the most of it and enjoy!
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