by Michael Pento, Market Oracle:
The main stream financial media is absolutely ebullient about global central banks’ renewed enthusiasm to cut interest rates to a level that is even lower than they already are. And, most importantly, Wall Street is completely confident that theses marginally-lower borrowing costs will not only be enough to pull the global economy out of its malaise; but will also be sufficient to provide enough monetary thrust to blow asset bubbles into the thermosphere.
However, the truth is Fed stimulus does not always work. This was the case during both 2000 and 2008. A significant amount of rate cuts was not enough to avert a recession and also did nothing in the way of preventing the stock market from collapsing.
Climate change is real. However, serious scientific evidence is pointing to a very different causality than most discuss. Climate is a huge subject, an immensely complex one. There is controversy around whether we must implement drastic new taxes on fuels or other measures to reduce or “capture” CO2 to reduce Man-Made Global Warming. So far however, there are strong indications we are ignoring what might be a far greater factor in our climate and in increasing occurrence of severe weather around the world, from hurricanes to volcanic eruptions to earthquakes to severe cold, severe warm and severe rainfall. One causal factor being ignored in all the discussion is what influence solar activity has on our climate. We might well be ignoring this to our peril.
Carbon dioxide emissions are making the Earth greener and more fertile, a United Nations (UN) climate scientist has said.
