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.

BTW, clicking on most charts will produce the original-sized, i.e., bigger version.

Sunday, July 24, 2016

El Niño's over -- but global temps still high.

The El Niño has ended, yet global temperatures remain very very high.   The dotty denialist explanation of the temperature spike over the last couple of years is "El Niño", not understanding that what happens is that heat is absorbed into the surface layers of the world's seas, only to be released later during the El Niño event.  The heat got there in the first place because of greenhouse gases, mostly CO2,  The last big El Niño event was in 1998.  Denialists chose 1998 as their starting point for the argument that there was a "pause".  Wonder what they're saying now?

We need to do more to switch to renewables.  Even though wind and solar are cheaper than coal, we are still not transitioning fast enough to economies powered by 100%  renewables.  We need to move faster.  Time is running out.

(Click on chart to enlarge)
(Source)

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