Summary: Here are three stories about environmental destruction, all featuring “five trillion” as the horrific number. Scary stories. Are they accurate?
To understand a trillion, look at it in cash
(1) Five trillion tons of ice has melted!
“5 Trillion Tons of Ice Lost Since 2002” by climate propagandist Phil Plait at Slate.
“…land ice loss is perhaps most important as a political trigger; the sheer amount of land ice being lost every year is immediate, here, now. And the numbers are staggering … From 2002 to mid-November 2014 — less than 13 years — the combined land ice loss from Antarctica and Greenland is more than 5 trillion tons. Five. Trillion. Tons. That’s beyond staggering; that’s almost incomprehensible. It’s a volume of about 5,700 cubic kilometers, a cube of ice nearly 18 kilometers — more than 11 miles — on a side.”
This is vintage propaganda, giving big numbers with no context. Much as the Right does with the Federal deficit (which if converted into pennies could build a bridge to Mars!).
The total mass of Earth’s ice is roughly 33 thousand trillion metric tons (per table 2 of 2013 USGS; other estimates differ). Five trillion metric tons over 13 years is 0.112% per year. At that rate the Earth’s ice will melt in
6,600 86,000 years. What level of technology will we have in a thousand years? Children in the year 3,000 will probably consider conflate burning oil and cow dung, both things done by primitive people in the dark ages.
Also, estimates of Antarctica’s ice loss differ widely. A December 2015 NASA study found that Antarctica gained ice mass from 1992-2008 (see the press release).
Summary: December brings forth a crop of retrospective analysis about the past year and confident forecasts about the next. The FM website has posted almost daily doses of the former, and I lack the confidence to do the latter. Instead let’s ask about questions. What issues might dominate 2014, and influence the years beyond? Finding the right questions can help us open our minds to the unexpected, and perhaps even prepare for it. Post your questions in the comments.
“Uncertainty … is painful, but must be endured if we wish to live without the support of comforting fairy tales.”
— From the introduction to A History of Western Philosophy by Bertrand Russell (1945)
- Effects of the taper?
- Results from Abenomics?
- The War on Terror?
- The global warming campaign?
- For More Information
(1) The taper
What effect will normalizing monetary policy (slowing QE3 being the first step) have on the economy? Will it slow the economy? Will it depress asset prices? Will it boost interest rates, perhaps ruinously? If it ends badly, will it decrease public confidence in the Federal Reserve, perhaps in economists?
Also, how strong are the deflationary forces at work? Inflation has fallen during QE3, despite credit and GDP growth, with little change in the value of the US dollar. That’s an anomaly (much of my forecasting success comes from attention to anomalies ignored by the consensus). What happens to inflation as QE3 ends? Do we get the widely predicted inflationary hangover, or lapse into deflation?
Click here to see posts about the taper.
There were to be three arrows:
- double the money supply in two years,
- boost the fiscal stimulus (borrow and spend even more),
- structural reform.
So far the government has fired the first two arrows, but not the third and most important one. The arrows were to produce:
- increased real wages,
- increased inflation (specifically, core inflation; not just increased cost of imports) with flattish interest rates,
- increased volume of exports (using the lower value of the Yen to gain market share, not just increase profits),
- a more efficient Japan (from the combination of faster growth, more investment, and reform).
The results to date are zero out of four. Wages are falling; real wages are falling even faster. Import prices are rising, but not other prices. Export volumes are not up strongly (+4.4% YoY in October). Reforms so far remain only talk.
Summary: It’s time again for question time — “ask the mineshaft”. In the comments post your questions about geopolitics. And post your answers to other people’s questions. This is a community exercise, from the German “Gemeinschaft” (see Wikipedia).
- How do open source projects & businesses fare in the Boydian world of competition, rate of change, etc?
- Why was the consulate in Benghazi attacked?
- What’s the status of peak oil?
- Will the Israel-Gaza situation escalate?
- If one could “rally” the American people to address any one issue in the US, which would be the most pressing?
- What can Nietzsche tell us about America?
- Why did cell phones go dead after Hurricane Sandy?
- More about a solar flare’s effect on the US power grid.
- Brilliant question: E puribus unum was our unofficial motto until Congress adopted In God we trust in 1956. Does this show a shift of our attitudes towards both the rest of the world, and ourselves?