16 September 2015, The Daly News, What is Wrong with a Zero Interest Rate? The stock market took a dip, so the Fed will likely continue to keep the interest rate at zero, in conformity with its goal of supporting asset prices by quantitative easing. What is wrong with a zero interest rate? Doesn’t it boost investment, growth, and employment? There are many things wrong with a zero interest rate. Remember that the interest rate is a price paid to savers by borrowing investors. At a zero price, savers will save less and receive less return on past savings. Savers and pensioners are penalized. At a near zero price for borrowed funds, investors are being subsidized and will invest in just about anything, leading to many poor investments and negative returns, furthering the economy’s already advanced transition from economic to uneconomic growth. Zero interest promotes an infinite demand for savings with zero new supply. But the “supply” is provided artificially by the Fed printing money. Read More here
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16 September 2015, The Guardian, Stopping fracking won’t stop climate change. I am neither pro nor anti-fracking, but green campaigners must look beyond future threats and tackle the present impacts of fossil fuels if we are to combat climate change…. My concern with the current debate about fracking stems not from any love of the technology but from the fact that it is currently absorbing people’s time and energy fighting potential future impacts, when all around us are far worse existing activities, such as burning Russian coal in 1960s’ power stations. It seems some in the green movement work on the basis that their best chances of making a difference lie in stopping threats that have yet to happen, rather than the impacts that are already with us. Anti new road protests, anti GM, anti incinerators, anti biofuel, anti new nuclear, even stopping the building of the new Kingsnorth coal fired power station – all are examples of this brand of campaigning. Done well they can penetrate the political discourse and change the debate. The problem, however, with whipping up fear of future threats is that it can also lead to fixed ideological positions being adopted in the absence of any actual evidence of harm, and, unless we start blocking the things that are already happening, we risk locking ourselves into the flawed and damaging system we have today. This is of particular concern because it is not just the green movement that has learned the game of how to stop new things from happening. Stoking nimbyism can carry risks for all who seek action on global issues. Read More here
14 September 2015, UC3M, Analyzing the Keys to Environmental Mobilization through Social Networks. Recognizing an opportunity, defining a clear message and reacting; these are the three keys to the success of environmental campaigns on social networks, according to research by Universidad Carlos III de Madrid (UC3M) and INGENIO, a joint center of the Universidad Politécnica de Valencia and CSIC, which also received an international award for the best article about entrepreneurship. Nobody has the precise formula for the success of social media viral campaigns, but there are examples of how they work. By taking as a reference point a Facebook environmental mobilization strategy which had a great impact, the researchers have developed a theoretical framework to help understand some of the keys to success. They have focused specifically on the work of the photographer Chris Jordan and the social media consultant Manuel Maqueda who together, have launched a social movement against plastic pollution and have gained two million followers for their cause. This movement has managed to change regulations governing this issue in over fifty countries. To achieve this, and to demonstrate the negative impact of plastic on our society, they used shocking images of young birds, poisoned by ingesting pieces of plastic. Read More here
14 September 2015, Climate News Network, Southern Ocean starts to soak up carbon again. Scientists report that the great oceanic “lung” is again breathing in vast amounts of carbon dioxide from the atmosphere – but can’t say why or whether it will last. The high seas have begun to respond again to the changes in the atmosphere, with two new studies confirming that the Southern Ocean is absorbing more atmospheric carbon. Levels of carbon dioxide in the atmosphere have been steadily increasing as humans burn ever more fossil fuels, but climate scientists will probably hesitate before exhaling sighs of relief over the latest findings. Rising CO2 in the atmosphere means global warming, which means climate change, melting ice caps, rising sea levels − and even more global warming and climate change. So the discovery that one great stretch of hostile ocean is soaking up more of the stuff sounds like very good news. However, the celebrations are likely to be cautious, as there is no guarantee that the process is permanent. Read More here