Climategate

GumbyLearner said:

C'mon Macquack you have got to rise above that from an analysis perspective. The guy might have ping-pong eyeballs but really what he is saying about increased food costs for the 3rd-world are not without merit.

You see as an old hand used to taking out garbage and recycling the good stuff, I'm not against environmental solutions. But I certainly am not going to swallow the dog**** spewed by the populists, because most people cannot comply with greater taxes.

If you want a good read on Monckton as a former adviser to the Iron Lady, read this book Thatcher's Gold by Paul O'Halloran and Mark Hollingsworth.

He's a scientist which I am not, but it could be worth a read to understand some more about the unspoken elite involved.

Anyway this is all about redistributing the burden to the average punter. That's the whole problem IMHO.

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.... the overnight announcement of Mr Benwanker as Time magazine's 2009 Man Of The Year sorta reinforces that re-distribution of debt view.... WTF???? didn't this goose oversee the worst collapse of US financial markets since King Kong swung from the Empire State building??? So he is REWARDED??? Double-WTF???? :angry:

Yeah, mum - I can hear you calling from the grave just fine .... "THE WORLD'S GONE MAD!!!"

Macquack said:

C'mon Wayne, you would have to admit Monckton makes Marty Feldman look mighty handsome!

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I am in no position to bag anyone's looks!

Aussiejeff said:

.... the overnight announcement of Mr Benwanker as Time magazine's 2009 Man Of The Year sorta reinforces that re-distribution of debt view.... WTF???? didn't this goose oversee the worst collapse of US financial markets since King Kong swung from the Empire State building??? So he is REWARDED??? Double-WTF???? :angry:

Yeah, mum - I can hear you calling from the grave just fine .... "THE WORLD'S GONE MAD!!!"

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Madness, indeed. Matches Obama and the Nobel Peace Prize.
Have you read Time's justification for this, AJ? Hard to imagine what it could be!

Julia said:

Madness, indeed. Matches Obama and the Nobel Peace Prize.
Have you read Time's justification for this, AJ? Hard to imagine what it could be!

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This is the justification from Time:

The story of the year was a weak economy that could have been much, much weaker. How the mild-mannered man who runs the Federal Reserve prevented an economic catastrophe.

Professor Bernanke of Princeton was a leading scholar of the Great Depression. He knew how the passive Fed of the 1930s helped create the calamity — through its stubborn refusal to expand the money supply and its tragic lack of imagination and experimentation. Chairman Bernanke of Washington was determined not to be the Fed chairman who presided over Depression 2.0.

So when turbulence in U.S. housing markets metastasized into the worst global financial crisis in more than 75 years, he conjured up trillions of new dollars and blasted them into the economy; engineered massive public rescues of failing private companies; ratcheted down interest rates to zero; lent to mutual funds, hedge funds, foreign banks, investment banks, manufacturers, insurers and other borrowers who had never dreamed of receiving Fed cash; jump-started stalled credit markets in everything from car loans to corporate paper; revolutionized housing finance with a breathtaking shopping spree for mortgage bonds; blew up the Fed's balance sheet to three times its previous size; and generally transformed the staid arena of central banking into a stage for desperate improvisation.

He didn't just reshape U.S. monetary policy; he led an effort to save the world economy.

I don't think he has done an outstanding job, just an adequate one.
What people shouldn't forget is that it was not Bernanke that created this mess though he did nothing to stop it occurring.

It was the actions of the Bush Administration and the elected representatives that greatly reduced regulation of the financial industry combined with stymying and cutting the power and money of those regulators to do their jobs. They had way too much faith in neoclassical economic theory.

Some of it was also caused by bubbles in the economy forming but a big percentage was the complete lack of ethics of the people operating in the bubbles.

Finally, this quote I got from Mish's website which is pretty true. It mentions some of the other "great men" who have been Time's man of the year.

Appearing on the cover of Time as person of the year is like a bell ringing. It almost always is akin to a figurative death sentence for the person involved, and sometimes even a literal one.


Jeff Bezos made the cover in 1999 - the year the internet portion of the tech stock bubble topped out.
GW Bush made the cover as his popularity rating had just begun to slide, ending at the worst such rating since Nixon, concurrent with a stock market crash.
Hitler made the cover in 1938.
General Chiang Kai Chek in 1937. It turned out to be an ill omen, career-wise.
Stalin made the cover in 1939 and again in 1942.
Kennedy made the cover the year before he was assassinated, as did Martin Luther King - a literal death sentence in both cases.
Lyndon B. Johnson made the cover in 1964 - he was about to lead the country into the Vietnam catastrophe.
Nixon and Kissinger made it in 1972.
It was Yury Andropov's turn in 1983 - he died shortly thereafter.
Gorbachov became 'man of the decade' half a year before being forced to step down.
Obama's turn was last year.
Most worrisome however, in 2006 Time decided to write on its person-of-the-year cover 'You!'.

Knobby22 said:

Appearing on the cover of Time as person of the year is like a bell ringing. It almost always is akin to a figurative death sentence for the person involved, and sometimes even a literal one.


Jeff Bezos made the cover in 1999 - the year the internet portion of the tech stock bubble topped out.
GW Bush made the cover as his popularity rating had just begun to slide, ending at the worst such rating since Nixon, concurrent with a stock market crash.
Hitler made the cover in 1938.
General Chiang Kai Chek in 1937. It turned out to be an ill omen, career-wise.
Stalin made the cover in 1939 and again in 1942.
Kennedy made the cover the year before he was assassinated, as did Martin Luther King - a literal death sentence in both cases.
Lyndon B. Johnson made the cover in 1964 - he was about to lead the country into the Vietnam catastrophe.
Nixon and Kissinger made it in 1972.
It was Yury Andropov's turn in 1983 - he died shortly thereafter.
Gorbachov became 'man of the decade' half a year before being forced to step down.
Obama's turn was last year.
Most worrisome however, in 2006 Time decided to write on its person-of-the-year cover 'You!'.

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I'm pretty sure Time's "person of the year" is for the most influential person, whether good or bad. That's why some of the above were included. 2007 had Vladimir Putin.

Jeff Bezos made the cover in 1999 - the year the internet portion of the tech stock bubble topped out.

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Bezos was a survivor of the dot come era though. He founded Amazon, which is still going strong today.

Julia said:

Madness, indeed. Matches Obama and the Nobel Peace Prize.
Have you read Time's justification for this, AJ? Hard to imagine what it could be!

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Time?

Dear Julia, I have no Time at all.....

bellenuit said:

I'm pretty sure Time's "person of the year" is for the most influential person, whether good or bad. That's why some of the above were included. 2007 had Vladimir Putin.
.

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I hadn't realised that. Thanks bellenuit.