God Is God, Law Is Law, and Stupid is Stupid.

This shouldn't surprise anyone. The surprise is we haven't seen this "solution" proposed more often as overtly. Here is a lesson on how not to try to make intractable cultural traditions compatible with intractable reality under dubious moral imperatives. But what this really shows is the limit of patience. People hammer away at something that refuses to yield to the methods being employed and rather than change methods, eradicate the problem. This sort of things make it so easy to be a cynic.

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Denialist Wall Street Journal admits Peak Oil has arrived

The trickle of Peak Oil articles has turned into a flood recently. First came the chief economist for the International Energy Agency (IEA), Dr. Fatih Birol, with the shocking announcement that "My main motto never changes, the era of low oil prices is over." Then there were the whistleblowers at the IEA who alleged that the IEA's rosy forecasts of rising production timed perfectly to satisfy rising demand had been rigged at the request of the United States. "We have entered the Peak Oil zone. I think that the situation is really bad," one whistleblower said. Then, Warren Buffet made his "all-in" wager on rail transportation. Now, even the Wall Street Journal has capitulated. Last week, they ran a front-page story titled "Oil officials see limit looming on production". The actual Wall Street Journal site requires a subscription, but it has been mirrored a number of places online if you're interested. The first paragraph of the story reads:

A growing number of oil-industry chieftains are endorsing an idea long deemed fringe: The world is approaching a practical limit to the number of barrels of crude oil that can be pumped every day.

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Man in coma for 23 years now fully conscious?

You've heard stories of people waking up from comas, but how often is it claimed that a person in a vegetative state for 23 years wakes up and can suddenly communicate with his family in sophisticated ways? That is the claim in this story, but not so fast! If you read the entire story, you'll see that family members are taking the man's fingers and pointing at a special keyboard. He's not able to move his hand himself. He's not able to speak. Does this sound suspicious? Check out this quote:

The therapist, Linda Wouters, told APTN that she can feel Houben guiding her hand with gentle pressure from his fingers, and that she feels him objecting when she moves his hand toward an incorrect letter. Arthur Caplan, a bioethics professor at the University of Pennsylvania, said he is skeptical of Houben's ability to communicate after seeing video of his hand being moved along the keyboard. "That's called 'facilitated communication,'" Caplan said. "That is ouija board stuff. It's been discredited time and time again. When people look at it, it's usually the person doing the pointing who's doing the messages, not the person they claim they are helping."
So there it is: Yet another case of hope prevailing over the evidence. This same issue of "facilitated communication" once swept the United States among people with severely autistic children. Many parents who desperately wanted to believe that their severely autistic children were suddenly writing sophisticated phrases have been devastated to learn that it was actually a case of "automatic writing," displaying the thoughts and the attitudes of the facilitators rather than the patients.

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Afghanistan = Vietnam

On Friday's show, Bill Moyers drew upon President Lyndon Johnson's taped phone calls and commentary regarding the Vietnam war, before drawing the following conclusions:

Now in a different world, at a different time, and with a different president, we face the prospect of enlarging a different war. But once again we're fighting in remote provinces against an enemy who can bleed us slowly and wait us out, because he will still be there when we are gone.

Once again, we are caught between warring factions in a country where other foreign powers fail before us. Once again, every setback brings a call for more troops, although no one can say how long they will be there or what it means to win. Once again, the government we are trying to help is hopelessly corrupt and incompetent.

And once again, a President pushing for critical change at home is being pressured to stop dithering, be tough, show he's got the guts, by sending young people seven thousand miles from home to fight and die, while their own country is coming apart.

And once again, the loudest case for enlarging the war is being made by those who will not have to fight it, who will be safely in their beds while the war grinds on. And once again, a small circle of advisers debates the course of action, but one man will make the decision.

The conversations secretly taped by Lyndon Johnson are riveting. They demonstrate that Johnson consistently saw escalation to be a terrible option, yet he ordered it. The entire episode of Bill Moyers Journal can be viewed here.

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Buffett’s bet on peak oil

Warren Buffett is lauded as one of the greatest investors of all time, if not the greatest. He's the second-richest person in the world, and known as the "Oracle of Omaha" for his seemingly prescient investments. For example, in the wake of the collapse of Bear Stearns and during the height of the market panic that followed it, Buffett stepped in and negotiated a deal with Goldman Sachs. He acquired $5 billion worth of preferred shares, which would pay him a 10% dividend, as well as warrants with the rights to sell those shares at any time within 5 years from the time of the transaction. As of September this year, those warrants were "in the money" to the tune of $3.1 billion, and that doesn't include the $500 million in premium payments that Goldman pays every year. Those lucrative terms (punitive for Goldman Sachs) left others wondering why the Treasury Department could only negotiate a 5% dividend, but that only added to the mystique and legend of Warren Buffett. At the time, Buffett was quoted as saying "If I didn't think the government was going to act, I would not be doing anything this week," referring to the massive bailout bill which was indeed enacted by the government. It's deals like that that enable one to become one of the richest people in the world. But it's also that background that has some on Wall Street scratching their heads at the news that he was purchasing Burlington Northern railroad. The Wall Street Journal discussed how the acquisition seemingly broke two of Buffett's cardinal rules on investments: 1) buy undervalued stocks or companies, for obvious reasons and 2) don't split your own stocks, as it dilutes the equity of the existing shareholders. Bloomberg quoted a hedge fund principal as saying, "It could be five years before the logic of [Buffett's purchase of] Burlington Northern becomes clear." Even Buffett admits that the purchase was "not cheap" and that it represents an "all-in wager"on the future of the American economy. And there can be no doubt that it is a significant investment-- he's liquidating other rail investments totaling $691.3 million while the Burlington Northern purchase will cost some $26 billion-- an increase in his railroad holdings of some 3,600%. And this bears repeating, he's splitting stock to get it done. This is the first time ever that Berkshire Hathaway (Buffett's investment company) has split shares. He's so reluctant to split shares, the class A shares regularly trade over $100,000 per share, an unheard-of valuation.

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