Some stuff in the news......hot off the press

Some various snippets from recent news............

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You would have to go back at least 15 million years to find carbon dioxide levels on Earth as high as they are today, a UCLA scientist and colleagues report.

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Last year alone global levels of atmospheric carbon dioxide, the primary driver of global climate change, increased by 0.6 percent, or 19 billion tons. Additionally methane rose by 27 million tons after nearly a decade with little or no increase.

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More than 300 scientists from 160 research groups in 48 countries contributed to the report, which confirms that the past decade was the warmest on record

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Is manmade global warming responsible for the surge in severe heat events we’re seeing in recent years around the globe?
The world’s climate scientists have a clear answer:
Yes. It is.
“It’s about as solid as science ever gets,” climatologist James Hansen tells ABC News.

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The IPCC report's projection for the next century:
•Worse heat waves worldwide are "very likely."
•"Medium confidence" exists that droughts will worsen across southern North America, the Mediterranean and elsewhere.
•"High confidence" exists that economic losses from weather disasters are increasing, with huge year-to-year swings, largely due to more people, urbanization and coastal development.

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Hurricanes, tornados, floods, and earthquakes may be the most harrowing displays of Mother Nature’s power. But heat waves — with temperatures like today's possible record-breaker — are responsible for more deaths a year in the United States than all of the above combined.

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By Karl Plume and Deborah Zabarenko
CHICAGO/WASHINGTON | Thu Jul 19, 2012 8:18pm EDT
(Reuters) - Grain prices pushed to record highs on Thursday as scattered rains in Midwest did little to douse fears that the worst drought in half a century will end soon or relieve worries around the world about higher food prices.
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Glacier in north Greenland breaks off huge iceberg
By SETH BORENSTEIN | Associated Press – Tue, Jul 17, 2012

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As Exxon CEO Calls Global Warming’s Impacts ‘Manageable’, Colorado Wildfires Shutter Climate Lab
By Rebecca Leber and Joe Romm on Jun 27, 2012

 

It's hot and muggy today.. I'm extrapolating that it will be hot and muggy for the rest of my life... better set my hair on fire and run in circles screaming the warning out... or not...

 

http://www.elitetrader.com/vb/showthread.php?s=&threadid=246074

 

I bought DJP last month. Mostly because of the drought it's been up nicely since I bought. It's on a winning streak last few days, with oil helping to push yesterday and today.
CRB and DJ UBS, which DJP is based on, are now over their 50 and 200 dma's. Went through them with barely a pause. News is taking notice, but only just. The real consciousness of just how bad this is is still a month or two away.
I posted in one of these threads a while back that CO2 levels are sensitive to the economic cycle. Commodities are most sensitive to when CO2 growth is trending up (CO2 is always going up, but the rate of growth varies with the economic cycle). It's trending up now, for the first time since the 2008 crisis.
Buy the hard stuff, slowly and opportunistically, especially basic materials if you don't want to just do the index thing. It'll pay you back, if you have a time horizon of at least two years.
Of course, foodstuffs might just keep on going up and up as the weather worsens and the amount of actual arable land begins to shrink from incessant droughts, regardless of the economic cycle. I'm not willing to make that kind of call though, at least not yet. Give it time, though, it'll happen.
Cynical? Yep. No one's doing anything, and no one will. That's just a fact.

 

Some more stuff:

The Government Accountability Institute conducted an analysis of how much time President Barack Obama has spent in economic meetings of any kind, as recorded the White House official calendar and Politico’s comprehensive calendar. They covered the president’s first 1,257 days in office.

Key findings include:

• President Obama has spent less than 4 percent of his total time in economic meetings or briefings of any kind (assuming a six day, 10-hour workweek)

• President Obama has spent 412 hours (or forty-one 10-hour workdays) in economic meetings or briefings of any kind

• There were 773 days (72 percent), excluding Sundays, in which the President no economic meetings

• Throughout his presidency, President Obama has spent an average of 138 minutes a week in economic meetings

• In 2012, President Obama has spent 24 total hours in economic meetings kind

When it was recently reported that Mr. Obama had played his 100th round of golf, the president said that playing golf was "the only time that for six hours, I'm outside." Therefore, by his own estimate, the president has spent 600 hours playing golf, as compared to just 412 hours in economic meetings of any kind throughout his presidency.

 

Obama is a Marxist street organizer.. anybody with the Saul Alinsky book and a megaphone can do that job.

 

It's horrible here in Illinois. The corn is dying. Farmers are already disking their fields.

 

That was a good trade. Congrats. Chart was consolidating at a pretty good low support level.

I'm looking at DBA (agricultural). My feeling is that extreme weather will continue to impact it at ever increasing rates. DJP seems to be highly correlated to it. What do you think about DBA ?
My thought is that agriculture will be more related to weather and seeing as how weather is getting worse the potential is better there. But if one is betting more on economic recovery perhaps DJP is better.

How about CORN? Too late? It's at a two year high but at the same level it was last Sept. I'm tempted to gamble a little on it. My rational is that things are worse for the corn crop this year than it was last year no?

 

I wonder how long it took the apes of that period to stop driving their SUVs to get the carbon dioxide levels down.

 

Those dumb apes could not drive. The roads were flooded under 120 feet of water.