01 April 2013

Confirming two things

that you already know to be true...

so anyway, that whole "global warming" thing?  It's all bullshit:

"OVER the past 15 years air temperatures at the Earth’s surface have been flat while greenhouse-gas emissions have continued to soar. The world added roughly 100 billion tonnes of carbon to the atmosphere between 2000 and 2010. That is about a quarter of all the CO₂ put there by humanity since 1750. And yet, as James Hansen, the head of NASA’s Goddard Institute for Space Studies, observes, “the five-year mean global temperature has been flat for a decade.” "
Emphasis mine.

And second, we were right; as it turns out Bush 43 was not responsible for the economy crashing in '08, the lion's share of the blame for the recession accrues to Jimmy F'n Carter, William Jefferson Blythe Clinton, and the Community Re-investment Act:

"Democrats and the media insist the Community Reinvestment Act, the anti-redlining law beefed up by President Clinton, had nothing to do with the subprime mortgage crisis and recession.
But a new study by the respected National Bureau of Economic Research finds, “Yes, it did. We find that adherence to that act led to riskier lending by banks.”
Added NBER: “There is a clear pattern of increased defaults for loans made by these banks in quarters around the (CRA) exam. Moreover, the effects are larger for loans made within CRA tracts,” or predominantly low-income and minority areas."

more soon

h/t to Ace for the "global warming" story and to Q and O for the economics

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