Wednesday, September 18th, 2013
DANA NUCCITELLI, - The Guardian (U.K.)
Stephan: Just as there is going to be no substantive change in policy about guns, despite the monthly massacre -- I notice very few SR Facebook readers even bothered to look at my essay on the subject -- so I am pretty sure nothing of substance is going to be done by the Obama Administration or the Congress concerning climate change. As this report makes clear the deniers are already gearing up for the IPCC report which is coming out. There may, however, be a change of perspective in Colorado.
Click through to see the very useful charts.
The fifth Intergovernmental Panel on Climate Change (IPCC) report is due out on September 27th, and is expected to reaffirm with growing confidence that humans are driving global warming and climate change. In anticipation of the widespread news coverage of this esteemed report, climate contrarians appear to be in damage control mode, trying to build up skeptical spin in media climate stories. Just in the past week we’ve seen:
Stage 1: Deny the Problem Exists
Often when people are first faced with an inconvenient problem, the immediate reaction involves denying its existence. For a long time climate contrarians denied that the planet was warming. Usually this involves disputing the accuracy of the surface temperature record, given that the data clearly indicate rapid warming.
In the 1990s, Christy and Spencer created a data set of lower atmosphere temperatures using measurements from satellite instruments. These initially seemed to indicate that the atmosphere was not warming, leading Christy, Spencer, and their fellow contrarians to declare that the problem didn’t exist. Unfortunately, it turned out that their data set contained several biases that added an artificial cooling trend, and once those were corrected, it was revealed that the lower atmosphere was warming at a rate consistent with […]
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Wednesday, September 18th, 2013
STEVE HARGREAVES, - CNN Money
Stephan: This is not sustainable, it is creating a permanent underclass. Social unrest and the corruption of democracy must follow inevitably.
Years after the Great Recession ended, 46.5 million Americans are still living in poverty, according to a Census Bureau report released Tuesday.
Meanwhile, median household income fell slightly to $51,017 a year in 2012, down from $51,100 in 2011 — a change the Census Bureau does not consider statistically significant.
But taking a wider view reveals a larger problem: income has tumbled since the recession hit, and is still 8.3% below where it was in 2007.
‘We’ve had [economic] growth, but it hasn’t really reached everyday Americans,’ said Elise Gould, an economist at the left-leaning Economic Policy Institute. ‘It’s a lost decade, maybe more.’
This long-term decline in income is troubling to economists, especially as the middle and lower classes have fared considerably worse than the rich. Since 1967, Americans right in the middle of the income curve have seen their earnings rise 19%, while those in the top 5% have seen a 67% gain. Rising inequality is seldom a sign of good social stability.
Americans were the richest in 1999, when median household income was $56,080, adjusted for inflation.
Who is earning the most: Young people continued to struggle last year, with those under the age of 35 seeing slight drops in income while those […]
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Tuesday, September 17th, 2013
PAUL KRUGMAN, Nobel Laureate - Op-Ed Columnist - The New York Times
Stephan: Here is the truth of Obama's failure to develop financial policies that would lead to the re-invigoration of the middle class. This disparity of wealth is going to be the source of much social unrest. It did not need to have developed in this way.
A few days ago, The Times published a report on a society that is being undermined by extreme inequality. This society claims to reward the best and brightest regardless of family background. In practice, however, the children of the wealthy benefit from opportunities and connections unavailable to children of the middle and working classes. And it was clear from the article that the gap between the society’s meritocratic ideology and its increasingly oligarchic reality is having a deeply demoralizing effect.
The report illustrated in a nutshell why extreme inequality is destructive, why claims ring hollow that inequality of outcomes doesn’t matter as long as there is equality of opportunity. If the rich are so much richer than the rest that they live in a different social and material universe, that fact in itself makes nonsense of any notion of equal opportunity.
By the way, which society are we talking about? The answer is: the Harvard Business School – an elite institution, but one that is now characterized by a sharp internal division between ordinary students and a sub-elite of students from wealthy families.
The point, of course, is that as the business school goes, so goes America, only even more so – a […]
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Tuesday, September 17th, 2013
Ambrose Evans-Pritchard, - The Telegraph (U.K.)
Stephan: This is a fairly alarming assessment of the current financial situation. Because the Obama Administration did not have the courage or wisdom to take on the financial industry, and re-regulate it, once again we are at risk.
Click through to see the charts which made it much easier to comprehend the issues covered in this report.
The Swiss-based `bank of central banks’ said a hunt for yield was luring investors en masse into high-risk instruments, ‘a phenomenon reminiscent of exuberance prior to the global financial crisis
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Tuesday, September 17th, 2013
SY MUKHERJEE, - Think Progress
Stephan: Here is some excellent news about American young people, and the choices they are making.
American teenagers are eating more vegetables, getting more exercise, watching less television, and eating fewer portions of junk food that’s high in sugar, according to a new study by the University of Massachusetts in Boston.
Researchers collected data on 35,000 children aged 11 to 16 from 2001 to 2009. They found that average Body Mass Index (BMI) for the teens dropped between 2005 and 2009, and that over the course of the total decade, consumption of fruits and vegetables nearly doubled from two to four days per week to five or six days per week. Younger Americans also ate breakfast more times per week over this period, while their weekly sugary drink consumption fell by 20 percent. The number of days they exercised for at least 60 minutes went up significantly from 4.33 days per week to 4.53 days per week.
The study is the latest in a series of encouraging reports suggesting that Americans are beginning to take better care of their physical health. ‘It’s only recently, in the past decade, that some studies have begun to see some leveling off [in behavior that causes obesity],
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