Fed’s Lacker: Earlier Rate Hike May Be Needed to Halt Inflation

Doesn’t Lacker get the doctored inflation reports ?

There’s no compelling scientific argument for drastic action to ‘decarbonize’ the world’s economy.

Editor’s Note: The following has been signed by the 16 scientists listed at the end of the article:

A candidate for public office in any contemporary democracy may have to consider what, if anything, to do about “global warming.” Candidates should understand that the oft-repeated claim that nearly all scientists demand that something dramatic be done to stop global warming is not true. In fact, a large and growing number of distinguished scientists and engineers do not agree that drastic actions on global warming are needed.

In September, Nobel Prize-winning physicist Ivar Giaever, a supporter of President Obama in the last election, publicly resigned from the American Physical Society (APS) with a letter that begins: “I did not renew [my membership] because I cannot live with the [APS policy] statement: ‘The evidence is incontrovertible: Global warming is occurring. If no mitigating actions are taken, significant disruptions in the Earth’s physical and ecological systems, social systems, security and human health are likely to occur. We must reduce emissions of greenhouse gases beginning now.’ In the APS it is OK to discuss whether the mass of the proton changes over time and how a multi-universe behaves, but the evidence of global warming is incontrovertible?”

In spite of a multidecade international campaign to enforce the message that increasing amounts of the “pollutant” carbon dioxide will destroy civilization, large numbers of scientists, many very prominent, share the opinions of Dr. Giaever. And the number of scientific “heretics” is growing with each passing year. The reason is a collection of stubborn scientific facts.

Perhaps the most inconvenient fact is the lack of global warming for well over 10 years now. This is known to the warming establishment, as one can see from the 2009 “Climategate” email of climate scientist Kevin Trenberth: “The fact is that we can’t account for the lack of warming at the moment and it is a travesty that we can’t.” But the warming is only missing if one believes computer models where so-called feedbacks involving water vapor and clouds greatly amplify the small effect of CO2.

The lack of warming for more than a decade—indeed, the smaller-than-predicted warming over the 22 years since the U.N.’s Intergovernmental Panel on Climate Change (IPCC) began issuing projections—suggests that computer models have greatly exaggerated how much warming additional CO2 can cause. Faced with this embarrassment, those promoting alarm have shifted their drumbeat from warming to weather extremes, to enable anything unusual that happens in our chaotic climate to be ascribed to CO2.

The fact is that CO2 is not a pollutant. CO2 is a colorless and odorless gas, exhaled at high concentrations by each of us, and a key component of the biosphere’s life cycle. Plants do so much better with more CO2 that greenhouse operators often increase the CO2 concentrations by factors of three or four to get better growth. This is no surprise since plants and animals evolved when CO2 concentrations were about 10 times larger than they are today. Better plant varieties, chemical fertilizers and agricultural management contributed to the great increase in agricultural yields of the past century, but part of the increase almost certainly came from additional CO2 in the atmosphere.

Read the rest here.

“A bull market is raging in U.S. stocks, with the Standard & Poor’s 500 Index up 4.5 percent so far this year.

But Jim Bianco, president of Bianco Research, doesn’t think the good news will last much longer. Stocks may rise another 5 or 6 percent, and then that’s it, he tells Yahoo.”

Some say his past at Bain will affect change in the current investment culture….

I like deflation don’t you ?

$14, 460 per

An additive found in household cleaning products to kill bacteria will now be removed from MickieD’s hockey pucks. This does not mean I’ll eat that crap….but hay it is better for you.

Romney is not the candidate for the GOP, but looks like the party’s best hope….

Deflation is a bitch

Cheers

Full look

Source

The Allstate Corporation (NYSE: ALL) Started as Outperform at William Blair.
AT&T Inc. (NYSE: T) Reinstated as Neutral with $30 price target at Credit Suisse.
Best Buy Co., Inc. (NYSE: BBY) Started as Outperform with $32 target at Credit Suisse.
Celgene Corporation (NASDAQ: CELG) Cut to Hold on Valuation at Argus.
Cliffs Natural Resources (NYSE: CLF) Cut to Neutral at Credit Suisse.
Equity One Inc. (NYSE: EQY) Cut to Sell at Citigroup.
Hartford Financial Services Group (NYSE: HIG) Cut to Neutral at JPMorgan.
J.C. Penney Company, Inc. (NYSE: JCP) Raised to Overweight at Piper Jaffray; Maintained as Buy but raised price target to $49 at Argus.
Juniper Networks Inc. (NYSE: JNPR) Cut to Market Perform at Morgan Keegan.
Kimco Realty Corporation (NYSE: KIM) Cut to Neutral at Citigroup.
The Progressive Corporation (NYSE: PGR) Started as Underperform at William Blair.
Sandridge Energy Inc. (NYSE: SD) Started as Buy at Citigroup.
Synaptics Inc. (NASDAQ: SYNA) Raised to Buy at Needham; Cut to Neutral at Stern Agee.
Under Armour, Inc. (NYSE: UA) Reiterated as Buy with $102 price target at Canaccord Genuity.
Vistaprint NV (NASDAQ: VPRT) Cut to Underperform as Bear of the Day at Zacks.
ZOLL Medical Corporation (NASDAQ: ZOLL) maintained Outperform as Bull of the Day at Zacks.

Gapping up

SOA +38.4%, CPHD +18.5%, RIG +7%, INFA +6.6%, ELX +6.3%, STX +3.8%, KLAC +3.7%, QLGC +3.2%, AMGN +1%, AU +2.1%, HMY +1.8%, GOLD +1.4%,

BHP +0.7%, ABX +0.7%, EMN +6.6%, NEE +2.0%, NWL +1.8%, MO +1%,

Gapping down 

RVBD -9.8%, DV -8.7%, TNAV -8.4%, JNPR -7.9%, DK -6.8%, BVSN -6.4%, RMBS -4.4%, DX -3.5%, MXIM -3.2%, CYS -2.8%, CRUS -2.1%, SBUX -2.1%,

CHTP -1.7%, SYNA -1.3%, TSLA -3.2%, GM -2.5%, TM -0.6%, KIM -1.5%, IDIX -3%,  MCD -0.4%, BP -1.3%,

In Play

On the Wires 

Personal consumption came in a t 2% vs consensus of 3%

Damn……

Don’t smoke chemicals