Monday, June 8, 2009

Pouring cold water on global warming

There is now irrefutable scientific evidence that far from global warming the earth has now entered a period of global cooling which will last at least for the next two decades.

Evidence for this comes from the NASA Microwave Sounding Unit and the Hadley Climate Research Unit while evidence that CO2 levels are continuing to increase comes from the Mauna Loa Observatory in Hawaii.

Professor Don Easterbrook one of the principle speakers at the recent World Conference on climate change held in New York in March this year attended by 800 leading climatologists, has documented a consistent cycle of warm and cool periods each with a 27 year cycle. Indeed the warm period from 1976 to 1998 exactly fits the pattern of climate changes for the past several centuries long before there were any CO2 emissions. Greenland Ice core temperature measurements for the past 500 years show this 27 year cycle of alternating warm and cool periods. Recently the global temperature increased from 1918 to 1940, decreased from 1940 to 1976, increased again from 1976 to 1998 and has been decreasing ever since.

However throughout this time CO2 has been added to the atmosphere in increasing amounts. This point was brought out by at the New York conference by Vaclav Klaus the rotating President of the EU and President of the Czech Republic. If CO2 emissions cause temperature rises than why is it that every 27 years the earth climate switches to a cooling mode with decreasing temperature? Clearly there is another explanation that does not include humans. .

Nearly ten years into the 21 century it is clear that the UN IPCC computer models have gone badly astray. The IPCC models have predicted a one degree increase in global temperature by 2011 with further large temperature rises to 2100. Yet there has been no warming since 1998 with a one degree cooling this year being the largest global temperature change ever recorded. Nasa satellite imagery from the Jet Propulsion Laboratory in California has confirmed that the Pacific Ocean has switched from the warm mode it has been in since 1977 to its cool mode, similar to that of the 1945-1977 global cooling period.

The evidence that the earth is in a cooling mode rather than a warming mode is there for all to see. the RSS(Remote Sensing System) in Santa Rosa California has recorded a temperature fall of two to three degrees in the Arctic since 2005, while US Army buoys show an increase in Arctic ice thickness to 3.5 metres. North America has had two of its worst winters for sixty years with the temperature in Yellowstone Park falling to a staggering minus 60 degrees.

About 46” of snow fell in New York in two weeks! Last February Toronto had over 70 cms of snow, more than anything since 1950! Snow has fallen in parts of China and Asia for the first time in living memory while Britain had its worst January for twenty years. Alps have best snow conditions in a generation ran a newspaper headline last December. Strange indeed that the BBC , who likes us to believe it is impartial does not mention these freezing temperatures and Arctic conditions.

Some warming in the Antarctic has only been on a small 20 mile strip of the Antarctic Peninsula as a result of the 1977- 1998 warming period. This is insignificant compared to the overall size of the huge Antarctic continent.

Studies by the WeatherAction team( led by astrophysicist Piers Corbyn and also the measurements of sun spots by the Institute of Solar-Terrestrial physics in Irkutsk in Russia show that over the last 50 years solar activity has been at its highest for the past several thousand years.

The Russian physicists have analysed sun spot activity from 1882 to 2000 and have noted that the minimum of the cycle of solar activity will occur around 2021 to 2026 and that we will be facing not global warming but global cooling leading to a deep freeze around 2050.

The UN IPCC graphics have left out the medieval warming period (950-1300AD) and the Little Ice Age (1350- 1850). This alters the picture entirely

and does not then portray the alternating warm cool warm cool cycle of recorded world temperatures. Also statements put out by the UN IPCC are unrepresentative of many of its members. I do not recall any votes being taken of the opinion of members.

At the New York climate change conference in March as well as Vaclav Klaus delegates also heard Dr Richard Linzen from MIT probably the leading climatologist in the world today, as well as Professor Syun-Ichi Akasofu, former director of the International Arctic Research Center, Dr Willie Soon of the Harvard-Smithsonian Center for astrophysics and Professor Paul Reiter of the Pasteur Institute who all demolished the global alarmists case piece by piece.

In his speech the EU President Vaclav Klaus had these controversial words for the environmentalist lobby.

“Environmentalists-even mainstream environmentalists are less concerned about any crisis posed by global warming than they are eager to command human behaviour and restrict economic activity” He also said “their true plans and ambitions: to stop economic development and return mankind centuries back.

They are interested in their businesses and their profits made with the help of politicians”

He got a standing ovation from the assembled audience.

His assertion about the involvement of politicians is not surprising. This whole movement is in many parts a political movement with nearly all the recognised climatologists throughout the world dissenting from the man made global warming theory.

This can be seen on the US Senate Environment committee web site with over 700 leading climatologists from 24 different countries including Nobel Prize laureates all dissenting from the man made global warming theory. It has been well reported that at least one of the architects of Koyoto has strong links with the New Age Movement which is not a movement that would promote economic growth.

We have all recently noticed the escalating price of food. The reason for this is because American grain, the breadbasket of the world, is increasingly being turned into ethanol which has led to a three fold increase of maize prices worldwide. This has the potential to cause worldwide starvation!

Terri Jackson is a Queens graduate physicist, climatologist and formerly founder of the Energy Group at the Institute of Physics, London.

By Terri Jackson

索罗斯:全球仍处熊市 中国可能是例外



  在谈到近期A股强劲反弹时,索罗斯言语非常谨慎,没有明示A股是否已经进入牛市,仅用“例外”两个字来表达对中国股市的信心。他说,“全球股市 仍然处于熊市阶段,但是中国股市(A股)可能是个例外。”同时,他也看好印度市场。自年初以来,上证综合指数和印度股市敏感指数累计升幅均超过50%。而 同期的美国股市——道琼斯工业指数倒跌0.3%,标准普尔500指数微涨4.34%,表现最好的纳斯达克指数也仅上扬了17.31%。

  索罗斯在演讲中力挺中国经济,表示中国的经济数据显示中国的经济已经开始复苏,中国可能取代美国成为全球经济引擎。他说,中国经济将会比所有人 预期的还要更快地增长,而中国经济的复苏速度也会超越美国。目前中国也受到金融危机和出口衰退的影响,但中国政府已经推出并将继续推出一系列的经济刺激计 划,可以通过扩大信贷和投资来刺激出口。



Gold falls as dollar continues to strengthen; silver also down

NEW YORK (MarketWatch) -- Gold futures fell Monday for a second session, moving below $950 an ounce for the first time in more than two weeks, as the U.S. dollar continued to strengthen against its major rivals, curbing gold's investment appeal.

Gold for June delivery fell $17.20, or 1.8%, to $944.50 an ounce on the Comex division of the New York Mercantile Exchange, falling below $950 for the first time since May 21. The more active August contract lost $16.70, or 1.7%, to $945.90 an ounce.

"The metal traded lower as the dollar staged a strong rally," said James Moore, an analyst at, in a note. "Given overbought chart indicators and the slight decline in SPDR holdings Friday, gold will continue to run into overhead resistance above the $980 level."

Holdings in the SPDR Gold Trust /quotes/comstock/13*!gld/quotes/nls/gld (GLD 93.20, -0.51, -0.54%) , the biggest exchange-traded fund backed by gold, stood at 1,132.15 metric tons Friday, down 0.35 metric tons from the previous day, according to latest data from the fund.

In currencies trading Monday, the greenback was higher versus the euro and other major rivals, extending gains scored following Friday's jobs data. See Currencies.

A stronger dollar tends to put downward pressures on dollar-denominated commodities prices. Crude oil, which is also denominated in the dollar, lost more than 1% Monday.

Other metals also moved lower. The July silver contract lost 51.8 cents, or 3.4%, to $14.87 an ounce. Holdings in the iShare Silver Trust /quotes/comstock/13*!slv/quotes/nls/slv (SLV 14.70, -0.31, -2.07%) , the biggest silver ETF, stood at 8,605.43 metric tons Friday, unchanged from a day ago.

July platinum declined $54.20, or 4.2%, to $1,232 an ounce, while the September contract for palladium sank $9.80, or 3.8%, to $250 an ounce.

July copper lost 3.4 cents, or 1.5%, to $2.25 a pound.

Gold and silver futures had fallen sharply Friday as a better-than-expected U.S. employment report boosted hopes for an economic recovery and made precious metals a less attractive investment.

Gold ended last week's trading down 1.8%, while silver lost 1.4%. Gold, however is still up nearly 8% this year, and silver is up more than 30%.

Among metals-sector equities, shares of Barrick Gold Corp. /quotes/comstock/13*!abx/quotes/nls/abx (ABX 35.52, -0.54, -1.48%) fell 1.9% to $35.34, while South Africa's Gold Fields Ltd. /quotes/comstock/13*!gfi/quotes/nls/gfi (GFI 11.70, -0.51, -4.18%) traded down 4.3% at $11.69 and Newmont Mining Corp. /quotes/comstock/13*!nem/quotes/nls/nem (NEM 43.72, -1.12, -2.50%) lost 2.4% to $43.72.

The Amex Gold Bugs Index /quotes/comstock/10t!hui.x (HUI 357.86, -9.71, -2.64%) , which tracks the share prices of major gold companies, dropped 3% to 356.79.

The iShares Gold Trust ETF /quotes/comstock/13*!iau/quotes/nls/iau (IAU 93.28, -0.47, -0.50%) declined 0.8% to $93.01.

Check this link :

US Stocks Decline As Commodities Sink From Rising Dollar

U.S. stocks declined on Monday as a rising dollar pushed down commodities, which in turn weighed on the basic-materials names from which the market has drawn much of its strength lately.

The Dow Jones Industrial Average was off 114 points, or 1.3%, at 8759, marking a slight retreat from last week's 3.1% rise. Aluminum producer Alcoa helped to lead the way lower, trading down 3.7%.

The blue-chip measure also added two new components on Monday, replacing troubled Citigroup and General Motors. Cisco Systems traded down more than 1.5%, but insurer Travelers was less of a drag on the average, trading down 0.2%.

The U.S. Dollar Index was up 1.5%, helping to spur a broad-based commodity decline. The Dow Jones-UBS Commodity Index was off about 1%. Oil futures edged lower, off 29 cents at $68.15 a barrel in New York.

The Nasdaq Composite Index slipped 1.5%. Apple shares slid 2% as investors waited to see if Steve Jobs will appear at the company's developers conference. Palm shares declined 10% after its iPhone rival, the Pre, went on sale over the weekend.

The S&P 500 Index was off 1.1%. All its sectors traded lower, led by a nearly 2% slide in basic materials. The S&P's energy, technology, and consumer-discretionary sectors were close behind, off about 1.5%.

Commodity-related investments have been the main venue lately for investors to express their hope - or in some instances, skepticism - about a possible recovery in the U.S. economy. Monday's calendar included no major releases of economic data, but that issue continued to heavily influence trading.

Among the commodity-related names under pressure were US Steel and DryShips. Freeport McMoran Copper & Gold was down about 3%, Marathon Oil was off about 1% and Potash of Saskatchewan was down more than 2%.

Strategist Jim Paulsen, of Wells Capital Management, said that he remains optimistic about the chances of a second-half rebound in the U.S. But he is increasingly concerned about the recent strength in Treasury prices, which have rallied as some traders bet that inflation will rear its head before consumption and production have made a strong comeback.

"It's really hard to sustain a run in stocks when you have bond yields going up 15 basis points everyday," a trend that makes Treasurys more attractive to investors as an alternative to shares, said Paulsen.

Treasury prices were mixed on Monday. The two-year note was off 3/32, pushing its yield to 1.337%. But the 10-year note was up 6/32 to yield 3.816%..

Overseas, Japan's Nikkei 225 rose 1%. South Korea's Kospi Composite index slipped 0.1% and the Hang Seng Composite Index in Hong Kong closed down 2.3%. Stocks were weaker in Europe.

By Peter A. McKay

中国手握7679亿美国国债 继续增持别无选择?

当头号债主近一年 美财长又来推销, 手握7679亿美国国债,中国出路在哪?












  据中国社会科学院金融研究所中国经济评价中心提供的信息,至2009年5月7日止,账面上,美国国债余额是11.2万亿美金;美国政府5月11 日估计本年度累积财政赤字为1.84万亿美金,是上一年度财政赤字的4倍;美国政府估计2009年10月至2010年9月的财政赤字为1.26万亿美 金;2010年至2019年赤字总额则为7.1万亿美元;未来75年美国未作拨备的社会保障计划负债已上升至51万亿美元。







  针对上述专家关于是否减持美国国债存在的分歧,国家外汇管理局国际收支司副司长管涛接受《中国经济周刊》采访时表示,“专家关于是否购买美国国 债的讨论都是立于自己想干什么就能干什么,但问题的关键,不是你愿不愿意、想不想做的问题,而是能不能做选择的问题,或者说有没有能力说不做这种选择。”





  在金融危机爆发之初的2008年11月26日,10年期美国国债的收益率一路下滑,创造了新的历史里程碑:50年来首次降至3%以下——降至 2.98%的低点。近日美国国债收益略有好转,最新数据表明,日前已经突破3.50%的关键位水平,目前仍在该点位附近徘徊。中国社会科学院美国经济研究 中心主任肖炼向《中国经济周刊》介绍,目前美国长期国债和短期国债的平均收益率为3%,仅相当于人民币3年定期存款的利率(人民币3年定期存款利率为 3.33%)。

  毫无疑问,由美国导致的世界金融危机使得美国国债收益率已经处于历史低端,并且无论短期还是长期国债,其发行利率在美联储降息作用下一直走低。 用肖炼的话说,“买国债就是买了一大堆纸,或者连纸都没有,就是记账。但是现在中国处于一种极其难受的状况,卖不行,买不行,不买不卖也不行。”

  肖炼向《中国经济周刊》进一步分析,首先,如果卖出美国国债,结果是没有人接盘,国债就会跌。国债跌,受损失最大的是美国和中国。但是美国有挽 救措施——美国可以印钞票来买国债,中国也可以印钞票,但是中国印的人民币,国际上不认可。所以,中国“卖”国债,对中美双方都不利。







  对此,贾康向《中国经济周刊》表示:“ 很多事情只是一厢情愿,你到国际市场看看实际情况就知道,只要中国一买什么,什么就飞涨。”

  “现在找不到比买美国国债更好的项目。如果把外汇储备花在走出去的投资上,我们想出去,但是人家会限制我们,并不是我们想出去就能出得去的。因此,买战略资源和走出去投资,是要从长计议的事情,不是现在马上就可以大规模做的事情,得慢慢来。” 贾康说。


  “现在增持美国国债等于在托美国。因为美国垮了,中国也就完了;中国垮了,美国也完了。现在是‘两个蚂蚱’被捆到一起了,说得好听点叫同舟共 济。”肖炼向《中国经济周刊》分析,现在购买美国国债并不是中国想买,而是美国在“逼迫着”中国购买。“现在中美利益已经被捆在一起了,中国政府很难办。 ”



  “我们准备再去美国跟美联储、财政部等相关发债人进行交流,看能否进行债转股转换。”肖炼告诉记者,现在美国股市跌得一塌糊涂,之前从 14000点跌到了6000点,现在回到8000点,而早晚要回到14000点。目前美国股票具有投资价值,如果在8000点能进去,到时也能翻近一倍。 而买国债充其量收益率5%不到。“毕竟美国股市自身也缺钱。”















他發表文告說,經過了13年的作與交流,他相信政府已經瞭解到中國大學在師資、學術水平、研究實力的優秀素質。最近由在英國泰晤士報高等教育專刊―Quacquarelli Symonds(QS)首次公佈的亞洲100大學排行榜中,中國的大學排名比大馬五所入榜的大學更勝籌,即北京大學(10)、清華大學(15)、中國科學技術大學(24)、復旦大學(26)、南京大學(27)、上海交通大學(29)、浙江大學(32)。



China, Japan work for regional, global economic recovery via mutually beneficial co-op

TOKYO, June 7 (Xinhua) -- The second China-Japan high-level economic dialogue closed here Sunday, sending a clear message that the two sides will make continued efforts to forge strategic and mutually beneficial relations in trade and economy.

Chinese Vice Premier Wang Qishan (L) shakes hands with Japanese Foreign Minister Hirofumi Nakasone prior to the meeting in Tokyo, capital of Japan, June 7, 2009. The second China-Japan high-level economic dialogue, co-chaired by Wang Qishan and Hirofumi Nakasone, opened here Sunday. Chinese Vice Premier Wang Qishan (L) shakes hands with Japanese Foreign Minister Hirofumi Nakasone prior to the meeting in Tokyo, capital of Japan, June 7, 2009.

The one-day dialogue, co-chaired by Chinese Vice Premier Wang Qishan and Japanese Foreign Minister Hirofumi Nakasone, focused on a wide range of topics including energy conservation, environmental protection, finance, trade and investment and intellectual property as well as regional and international economic issues.

Profound changes have taken place in the international economic and financial sectors since the first China-Japan high-level economic dialogue in December 2007. Coping with the ongoing global financial crisis has become the major concern for both countries.

Faced with the grave challenges posed by the crisis, the two countries agreed that they should implement the consensus reached at G20 Washington and London summits and adopt more effective measures to ensure stability in financial markets and promote their own economic growth and contribute to the early recovery of the world economy.

As each other's major trade partner, the two nations have become increasingly interdependent in economy and trade. Notably, the current dialogue highlighted potential cooperation in energy conservation and environmental protection.

As the world's second largest economy, Japan is also a leader in energy conservation and environmental protection technologies, whereas China is the world's largest developing country with huge market demands. The two countries are highly complementary economically.

Both sides have agreed to expand cooperation in environmental protection. Meanwhile, they expressed readiness to further remove barriers of various kinds, and enhance cooperation in such areas as technology trade, small and medium-sized businesses, quality control and food safety.

During the current economic dialogue, the two sides signed eight important documents, including the MOU for International Property Protection Exchanges and Cooperation, Meeting Minutes on Agriculture Cooperation between China and Japan, and the MOU on Strengthening Science and Technology Cooperation in the Field of Seismology.

As Japan and China are the two largest economies in East Asia, the advancement of their cooperation is of great importance in maintaining the region's economic stability, tackling the global financial crisis and boosting cooperation between developing and developed countries.

During the talks, both sides also reached consensus on tackling regional and global economic issues, and reiterated their will to take responsible approach and strive to enhance regional and international economic and financial cooperation.

Such consensus and endeavors will undoubtedly play a constructive role in the development of both regional and global economies.

The success of the second China-Japan high-level economic dialogue once again proved that such a mechanism is playing an important role in advancing bilateral ties.

Under this mechanism, the two sides discussed strategies on economic growth and macroeconomic policies, coordinated cross-sector economic cooperation, and enhanced policy exchanges on major regional and international economic issues.

The mechanism is expected to elevate bilateral cooperation in economy and trade to a new high and have even greater positive impact on the economic stability and prosperity of Asia and the world at large.

Global airline losses to hit $9 bln in 2009: IATA

KUALA LUMPUR, June 8, 2009 (Reuters) — Global airlines are likely to lose $9 billion this year, the International Air Transport Association said on Monday, nearly double its estimate of just three months ago, as rising fuel prices and weak demand create an unprecedented crisis for the industry.

"This is the most difficult situation the industry has faced," Giovanni Bisignani, IATA's director general and CEO, told the aviation body's annual meeting in the Malaysian capital.

"I am a realist. I don't see facts to support optimism."

However, there was some optimism. John Leahy, the commercial director at European aircraft manufacturer Airbus said 2009 would be tough, but plans by United Airlines to order as many as 150 new planes from Airbus or rival Boeing Co showed the market was starting to turn.

"Cancellations are not as much of an issue as deferrals. I don't think we'll have that many more cancellations," he said.

Speaking on the sidelines of the meeting earlier, the chairman of state-owned Air India said his company was considering delaying planes on order from Boeing.

"We are looking at options including rescheduling," Arvind Jadhav told reporters. "I don't have cash, what do you expect me to do?"

Air India has over $8 billion worth of planes on order from Boeing, including 27 B787 Dreamliners.

Cathay Pacific <>, Hong Kong's largest carrier, said it was also looking to further delay deliveries of new planes as it had seen no signs of recovery in its business.

One note of optimism, however, came from Qatar Airways, which has about $27 billion worth of planes on order and wanted deliveries speeded up, its chief executive said.


Globally, about 4,000 aircraft are scheduled for delivery in the next three years, which is 17 percent of the current fleet, IATA's Bisignani said.

"Once again, aircraft ordered in good times are being delivered in recession. Finding customers to fill them will be a challenge," he said.

IATA had predicted in March that 2009 losses for the airline industry would total $4.7 billion. It also revised its estimate of 2008 losses to $10.4 billion from $8.5 billion.

In an effort to ride out the crisis, made worse by the recent outbreak of the H1N1 flu virus, airlines have been looking to reduce costs elsewhere too.

Japan Airlines Corp <9205.t>, Asia's biggest carrier by revenues, said it planned to cut capacity on international routes by 10 percent in the year to March 2010.

Another major problem was rising fuel costs, a problem it would be "irresponsible" of governments not to act on, Bisignani said.

"The risk that we have seen in recent weeks is that even the slightest glimmer of economic hope sends oil prices higher. Greedy speculation must not hold the global economy hostage."

At Monday's formal opening of the IATA conference, which ends on Tuesday, Malaysian Prime Minister Najib Razak drew laughter when he noted that he had walked over from an oil and gas conference being held next door.

"I was discussing what should be the price of oil which seems to be something we are all grappling with," Najib said.

Prices for jet fuel in Singapore have jumped almost 60 percent since bottoming out around $46 a barrel in March.

IATA estimates the industry fuel bill will decline by $59 billion to $106 billion in 2009, or 25 percent of costs versus 31 percent in 2008.

Bisignani said the aviation industry's 2009 revenues would fall by $80 billion to $448 billion because of the global economic crisis.

CCB reportedly to explore yuan to finance trade

HONG KONG (MarketWatch) -- China Construction Bank is considering the introduction of using the Chinese yuan to finance cross-border trade, adding to the growing talk among government officials in support of the expanded use of the currency internationally, according to report Monday.

Check the link below :













More bodies recovered from Brazil crash

Brazilian military authorities say search boats scouring the Atlantic Ocean have now recovered 17 bodies of passengers on a doomed Air France flight that crashed a week ago.

Air Force Colonel Henry Munhoz says four of the bodies were men and four were women. He did not immediately provide information about the gender of the other bodies. The flight was carrying 228 people when it crashed the night of May 31.

Munhoz also told reporters on Sunday night that several structural parts of the Airbus 330 were recovered at the location from which Flight 447 sent a burst of messages saying it was having electrical problems and loss of cabin pressure.

To watch this please check the link below :