Disclaimer

Disclaimer. After nearly 40 years managing money for some of the largest life offices and investment managers in the world, I think I have something to offer. But I can't by law give you advice, and I do make mistakes. Remember: the unexpected sometimes happens. Oddly enough, the expected does too, but all too often it takes longer than you thought it would, or on the other hand happens more quickly than you expected. The Goddess of Markets punishes (eventually) greed, folly, laziness and arrogance. No matter how many years you've served Her. Take care. Be humble. And don't blame me.

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Thursday, January 29, 2015

US east coast blizzard

I've seen several comments on climate threads saying that the recent east coast blizzards in the US prove that the world isn't warming, and that there is no such thing as climate change.

This is a bit like saying that because your belly is full, there is no such thing as hunger elsewhere in the world.  Strangely enough, the east coast of the US is NOT the world.  Or it's like saying that because you are in an air-conditioned office, where it's cool, but it's 40 C outside, that it's not very hot, really, is it?  Are ppl so stupid that they can only accept global warming when it's hot?  How about the facts?

In any case, it is precisely the warming, especially in the seas,  which has contributed to the blizzards as this excellent piece demonstrates.  In the chart below, note how the sea next to the land is anomalously cold, whereas further out it is extraordinarily warm for the season.


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