Showing posts with label Errol Morris. Show all posts
Showing posts with label Errol Morris. Show all posts

Thursday, November 29, 2018

Dotard Is A High Level "Genius" For Disbelieving National Climate Assessment ? ROTFL!



Image result for images of Puerto Rico damage



"My gut tells me more sometimes than anyone else's brain can ever tell me"

"One of the problems of many people like myself is we have very high levels of intelligence but we're not necessarily such believers".
 
Dotard Donnie's assorted brain farts in the past week.

By now, virtually everyone not living under a rock is aware of the recently released congressionally- mandated National Climate Assessment.    The report-  compiled by 300 scientists and 13 federal agencies-  ought to make every sentient being on the planet sit up and take notice.  This is given that it forecasts "record wildfires in California, crop failures in the Midwest and crumbling infrastructure in the South," as well as the disruption of "American exports and supply chains,".  Also,  the decline of "agricultural yields" (possibly "to 1980s levels by mid-century"), and a "fire season [that] could spread to the Southeast."

All told the losses could come to "hundreds of billions of dollars"  - which is definitely lowballed given we are on track to break all existing climate warming records. Nevertheless, one finds e.g.  long time WSJ resident  climate change denier, Holman Jenkins Jr.,  all in for his latest BS contribution: 'Climate Change Is Affordable', p. A15 yesterday).  Jenkins insists the latest assessment "adopts the RCP 8.5 high emission scenario" despite which - get this:  "we still arrive at a manageable $510 billion in estimated climate-related costs by 2090".

Do not believe that jabberwocky for one microsecond. As I noted in my post of October 10th, after the original IPCC report came out:

"The cost of doing nothing until 2040 and allowing the now forecast 4C rise (more likely 6C) by 2100 will be well over $100 trillion in worldwide costs - from the mega-disasters including massive flooding, fires, to loss of jobs, homes, infrastructure - including power stations."

I still stand by that, and it doesn't matter if little Holman J. Jr. still believes his own codswallop that:

"The new U.S. report, as well as a United Nations report issued in October...aim at frightening the public - exactly the approach that so manifestly has failed to move the needle for 35 years.

Maybe it's because voters are skeptical of doom-mongering. Maybe they have grown fatalistic about climate change. Or maybe, reflecting the folly of climate campaigners, they've gotten a message that acting on greenhouse gases requires giving up prosperity."


Which may well be valid to an extent (at least for Right wing  troublemakers), especially given the riots and mayhem that's erupted in France after a relatively small fuel tax was imposed.  In that episode, French police had to fire tear gas and water cannons to "disperse violent demonstrators" (Denver Post, Nov. 25, p. 2A).   They also had to impose road blockades "as thousands gathered in the capital to vent anger against rising fuel taxes." 

One demonstrator quoted actually vowed (ibid.):

"It's going to trigger a civil war and we're going to be ready"

A civil war? Really?  Early indications are that the violent outbursts were instigated by the French far right (Marine LePen's cadre), which would put them right into Holman Jenkins' screed 'wheelhouse' or ideology. Don't give up a fucking thing, keep the planet burning on schedule, and let your kids and grandkids figure it all out or fry.

But the larger reason for inertia and even inattention cited by Holman is simply that too many of the "voters" Jenkins invokes are  inundated with too much 24/7 news from a 24/7 media. They are no longer able to sustain the information load and hence their brains can't process what's coming at them - especially after the political tumult of the past two years.  Oh,  and that in the case of making this planet less inhabitable in the near future material sacrifices will have to be made. Unless they actually want the planet to be unlivable for their kids and grandkids. 

As I wrote in that same Oct. 10 post, I have ten great nieces and nephews who will reach a youngish middle age by 2040. I am pondering now what kind of world awaits them. Will they, indeed, be able to find shelter and prosper in the world?   I don't know, but I refuse to believe the majority of our people have become so innately self-absorbed and focused on their own immediate "prosperity"  they refuse to look down the road at the welfare of their own offspring and their offspring. 

Jenkins insists that:  "the biggest holdup to direct action on climate is showing that preventing these changes would be cheaper than enduring them."

Seriously, mate? You are prepared to "endure" temperatures reaching 110- 115F  in 40-day heat waves, even as power grids crash and a/c in millions of homes ceases to function? Think Puerto Rico after Hurricane Maria when thousands died because their meds couldn't be kept cool in the smoldering temperatures, and food spoiled...oh yeah, and fresh potable water ceased to be available. Many Puerto Ricans had to dredge water from chemically -fouled pools and small ponds. Think that would be sport to endure? Think again!

Speaking of a/c (which we know is one of the major contributors to global warming),  according to a WSJ Review piece ('Can India Afford to Cool Down?',  Nov. 24-25, p.C3) -   it is expected  that there'll be a global addition of:  "from 2.5 billion  to 3.7 billion air conditioning  room units by 2050".  Already, India  "is the fastest growing market for air conditioners."     

Indeed, "annual electricity consumption from air conditioning is expected to multiply 30 times, from just eight terawatt hours in 2010 to 238 terawatt hours by 2030".

Which begs the question of what all those denizens will do when climate change - approaching the runaway threshold - renders all those a/c units the equivalent of useless junk. Fortunately, I will be long gone before then.

If people were rational beings, as opposed to pawns manipulated by the media pundits and BS'ers like Jenkins and his WSJ op-ed cohort, fear would not be necessary . Able -minded citizens could examine the climate news and data dispassionately e.g.

Climate report understates threat

And arrive at the same conclusion as climate scientists like Myles Allen.  Prof. Allen,  an Oxford University climate scientist and an author of the IPCC report. was quoted in one NY  Times piece after the release of the UN report:

"It’s telling us we need to reverse emissions trends and turn the world economy on a dime,”

This instead of paying attention to dummy Dotard Trump who most recently spewed reams of fucktard baloney on climate in one unhinged, inchoate statement after the release of the National Climate Assessment, e.g.

"One of the problems of many people like myself is we have very high levels of intelligence but we're not necessarily such believers You look at our air and our water and it's right now at a record clean. But when you look at China, Russia and many other places in the world...the air is incredibly dirty. And when you're talking about an atmosphere the oceans are very small and it blows over.  I mean we take thousands of tons of garbage off our beaches all the time that comes over from Asia.  It just flows right down the Pacific.  ….


Number two, if you go back and look at articles they talked about global freezing  They talked about at some point the planets could have freeze to death, then it's going to die of heat exhaustion.."  

Seriously, folks,  that is our resident's "high intelligence" on display in all its glory,  including the grammatical miscues.  Those, by the way,  pale in comparison to the sheer ignorance of what this imbecile is spouting.  When I showed it to my psychology postdoc niece (Shayle), she wondered whether an 8 -year old wrote it. (A very dumb eight year old.) I had to tell her, no, it came from the Twitter account of our so-called president. 


All Dotard's gut-spewing  ignorance aside, the National Climate Assessment - despite its economic lowballing -  represents a scientifically informed forecast of widespread environmental and economic devastation, and makes no bones about the source, i.e.:

"The evidence of human-caused climate change is overwhelming and continues to strengthen.  The impacts are intensifying across the country and the climate-related threats to America's physical, social and economic well-being are rising."

One doesn't know how much more clearly the risks can be stated, and yet too many appear to have adopted the pose of the classic frog left in water that's increased in temperature 1 degree at a time - so it slowly boils.

 Of course, the question many are asking is:  why would this backward administration laden with science troglodytes and knuckle draggers  agree to the Climate Assessment's unaltered release?   (Although on  Black Friday, when supposedly no one was paying attention. But alas for them, because it was a slow news day the headlines were captured big time.)

 The answer for the cynically-timed release,  reports the NY Times was because:

"White House officials made a calculation that Mr. Trump’s core base of supporters most likely would not care that its findings are so at odds with the president’s statements and policies." 

The resident could tell them the sky is green, and they'd argue in defense  of his atmospheric wisdom.  (Or he could just tell these idiots that the "planet will die of heat exhaustion.")

Dotard's climate science retardation is buoyed by the likes of the clown Steven Milloy, who oversees the junk website junkscience.com and was a member of Mr. Trump's E.P.A. transition team.  (Well, morons pick morons to do their dirty work for them, including spewing crap to other morons.)  This twit actually declared:

 "We don’t care. In our view, this is made-up hysteria anyway — part of the deep-state conspiracy to undermine Trump's spectacular agenda. We had to decide whether to stop the deep state from doing this in the first place, or trying to alter the document, and then creating a whole new narrative — it’s better to just have it come out and get it over with," 

Gee whiz, that's magnanimous of you, asshole!  Would you have preferred to have waited for release until the entire country is in the midst of a contiguous wildfire, like California suffered?  But this is the sort of dreck we have to deal with - and sadly-   one still sees it surfacing in the high IQ societies like Mensa and Intertel, e.g.


Brane Space: Skewering The Spurious Global Warming Narrative Of ...





Why do so many 'brainiacs' subscribe to this balderdash?  My guess is the Dunning-Kruger effect is operative.  For reference and clarification, the Dunning-Kruger effect is defined by Wikipedia  as “a cognitive bias whereby unskilled individuals suffer from illusory superiority, mistakenly rating their ability much higher than is accurate.” Wikipedia adds that “This bias is attributed to a metacognitive inability of the unskilled to recognize their ineptitude.” 

Or, as psychologist David Dunning (the discoverer) once explained to Errol Morris, writing in an essay series, “The Anosognosic’s Dilemma: Something’s Wrong but You’ll Never Know What It Is,” for the New York Times:

 “If you’re incompetent, you can’t know you’re incompetent … [T]he skills you need to produce a right answer are exactly the skills you need to recognize what a right answer is.”  

Thus, bright though these Mensans and Ilians may well be, they lack the critical backgrounds in physics and basic climate science to claim any authority in validating their opinions.  All we can do is make our cases against their twaddle and hope at some point their actual intellect kicks in and can differentiate between fact and fiction. 

According to Bush I's  E.P.A. administrator, William Reilly, what we're seeing with Milloy and Dotard (and even the high IQ deniers)  is a new frontier of disavowal of science, of disdain for facts.   According to Reilly:

"But many Americans — just how many is unknown — are becoming accustomed to it, which is the objective of every authoritarian state. It keeps pumping out the ignorance and lies until public muddlement morphs into the status quo; it persists in disdaining facts until facts become mere play things "

What we have to hope is that the percipient and truly intelligent citizens - who can decipher scientific facts from fabulist nonsense - remain in the majority. If not, we are all for the high jump - which would probably make the likes of Holman Jenkins and Steve Milloy ecstatic.

See also:



Monday, October 15, 2018

Why Interest Rates Need To Be Increased- Contrary To Dotard's Idiocy ('The Fed's Losing It's Mind')

Image result for Trump screaming baby images
"WAAAAAH! The Fed has lost its mind with their interest rate hikes! They're messing up my stock market!"

It seems Baby Doturd loves the stock market when it's soaring so he can brag he's behind it. But when it tanked last week he disowned it,  blaming the nearly 1400 point loss  on the Fed as opposed to his (and the GOP's) own stupid policies. The orange -hued ignoramus erupted last week Wednesday, belching :

“I think the Fed has gone crazy.  The Fed is going wild. I don’t know what their problem is. They are raising interest rates and it’s ridiculous.”

No, what's ridiculous is you butting your butt brain into issues about which you have no clue. Just like you did with your jackass stupid trade war with China, and sputtering bilge such as "Trade wars are easy to win!"  No, fool, they are not and the impact always smacks citizens.  This asshole actually also had the nerve to blurt out:

“ I think I know more about it than they do.”

 No you don't, Dotard,  but you're too too damned dumb and self-absorbed to figure it out. Likely a victim of the  Dunning -Kruger Effect because of your pronounced cognitive incapacity and narcissism.  To remind readers, the Dunning-Kruger effect is defined as “a cognitive bias whereby unskilled individuals suffer from illusory superiority, mistakenly rating their ability much higher than is accurate.” Wikipedia adds that “This bias is attributed to a metacognitive inability of the unskilled to recognize their ineptitude.” 

Or, as psychologist David Dunning (the discoverer) once explained to Errol Morris, writing in an essay series, “The Anosognosic’s Dilemma: Something’s Wrong but You’ll Never Know What It Is,” for the New York Times:

 “If you’re incompetent, you can’t know you’re incompetent … [T]he skills you need to produce a right answer are exactly the skills you need to recognize what a right answer is.”  
In the case of Trump, aka Dotard, he is fundamentally ignorant and  mega unskilled, as well as incompetent regarding just about every imaginable thing from tax policy, to tariffs, to immigration and its positive contributions, to interest rates.   The imbecile arguably doesn't even know that interest rates are "far below historic definitions of normal" according to a WSJ piece from last Friday.

In addition,  Doh- Turd seems not to process he's a victim of his own "success" (sic)  in jazzing up an economy that didn't need it - actually overheating it.  The demented dolt seems to have forgotten that his (and the GOP's) tax cuts juiced corporate earnings and led them to use the extra $$$ for stock buybacks - which sent valuations of  corporate equities hurtling beyond anything sustainable.

 This is part of  what is prompting the Fed to raise interest rates and drawing Donnie Dotard's ire. Why? Because he has to have some entity to blame other than himself. He loves to embrace the market when it's soaring but after it crapped out last week he want to distance himself knowing the midterms are around the corner and fearing voter-investors might take it out of his hide.

The other aspect not grasped by this imbecile brat and pretend president, is that when bond yields rise stocks tend to sink.   The yield on 10-year United States Treasury bonds reached a seven-year high last week of 3.25 percent (it receded some on Wednesday as stocks dropped), up from 2.82 percent in August. The 10-year rate was below 1.4 percent as recently as July 2016. What this did is stoke volatility across asset classes, igniting a single-minded search for protection.    This was largely reflected in buying up bonds (bonds have lower prices when their yields go up as the 10-year Treasury did last week).

Basically what happened is that stock investors - seeing high bond yields - sold off equities and bought Treasurys in a flight from risk .  But the real problem lay in the future i.e. when stocks sell off amid falling bond yields which tends to precede recession. Last week, then, was just a warning shot over the bow of irrationally exuberant investors too enamored of overpriced stocks.

Another less discussed aspect is the purchase of options. Not only did investors grab up bonds (including risky corporate bonds) but also options that pay out if the S&P 500 takes a drastic fall. Why would they do that? Well, because they are convinced a drastic fall is coming - if not now then later.  But what their frenzied buying of options has done is to drive up the cost of hedging stock portfolios to the highest in months.

In other words, investors (especially of the 'momentum' species) are bracing for even greater turmoil across markets, increasing hedges on their stock positions. The concern is with this behavior in addition to bond purchases as yields go up on the long term (e.g. 10-year) Treasurys.

Here's the skinny:The behavior of stock, bond and commodity markets last week showed investors' main concerns were that higher oil prices (now approaching $100 a barrel) will fuel inflation and trigger the Fed into raising interest rates even more rapidly.  This according to Charles Himmelberg chief market economist at Goldman -Sachs.  Himmelberg also said (in the same Friday WSJ piece) he saw more evidence investors are retreating from risk and worrying about economic growth.

Retreat from risk will especially be rife if the 10-year  Treasury yield should approach 3.5 % - a level some analysts believe would be a major threat to stock valuations.

Let's seek even more perspective here:  For much of the last couple of years, short-term interest rates, which the Fed controls directly, have risen much faster than longer-term rates, which are set based on global supply and demand for bonds. The Fed was plowing ahead with rate increases, while investors were evidently skeptical that growth would be persistent enough to justify higher long-term rates. (After all the Reeps passed tax cuts that promised both to stimulate the economy but also expand the supply of government debt to now an estimated $1.5 trillion)

In late August, the rate on 10-year Treasury  bonds was only 0.18 percent higher than for two-year government bonds, a phenomenon known as a flat yield curve. (When that number turns negative, it’s considered an “inverted yield curve” and is often a measure of looming recession.)

Since then, longer-term rates have risen faster than shorter-term ones. Still the yield curve remains flat by historical standards and the gap between 10-year and two-year bonds was up to only 0.33 percent in recent days.

The yields of inflation-protected bonds have moved mostly in lock step with traditional bonds in recent weeks, suggesting that traders haven’t become more worried about inflation.  The rise in longer-term interest rates is driven mainly not by a rise in inflation expectations, but rather by a rise in investors’ expectations for what the Fed will do and for how much compensation bond investors are demanding in lending over long time horizons.

Leaders of the Fed have indicated that they expect to keep raising their target interest rate to around 3.4 percent by the end of 2020, up from the current level of just above 2 percent.  This is very reasonable, contrary to Baby Dotard's histrionics,  given higher interest rates will provide more leverage if and when the next recession does occur.  To keep interest rates too low puts an artificial strait jacket on the Fed's responses, which a real president would grasp - but evidently the splenetic infant Trump can't.

Recall Trump criticized the Fed when it raised interest rates in July, and again when it raised interest rates in September. But his attacks have sharply intensified in recent days, in tandem with the drop in the stock market.

What we need is for this forlorn loser brat to grow up and admit that Fed Chief  Jerome Powell
Image result for Jerome Powell
knows a hell of a lot more about finance and economics than he does.  (Especially as we now know the mutt made all his money from common grifting and tax fraud - with Daddy Fred's help)

 And after all- if Dotard  needed surgery, say for removal of his appendix - he'd not want a trained monkey doing it but a competent human surgeon.  In like manner we can't have an orange Orangutan like Trump trying to manage the economy or dictate interest rates.  It needs to be left to the "big boys".

See also:

The Market Weighs in on Trump’s Economic Policies

Exceprt:

"In truth, the whole of Trump’s economic policy has been a massive injection of debt into an already healthy economy. His tax cuts for corporations and deficit spending for military expansion have added more than $2 trillion to the national debt in just two years. It’s like injecting adrenaline into an already healthy runner in the middle of a marathon.

Let’s be clear. Any moron with a handful of credit cards charged off to the next generation can gin up the illusion of prosperity. That’s all the Trump economy is: borrowing trillions of dollars from the future, spending it today, and pretending to be a genius. But the market has figured it out."