Nov 292019
 
 November 29, 2019  Posted by at 9:53 am Finance Tagged with: , , , , , , , ,


Dorothea Lange Negro woman who has never been out of Mississippi July 1936

 

The Limits of Lagarde (Varoufakis)
Millennials Have a Right To Be Pissed at Boomers (Vice)
What’s Behind the Subprime Consumer Loan Implosion? (WS)
DOJ Watchdog Expected To Downgrade ‘Spying’ On Trump Campaign (ZH)
Papua New Guinea Faces Cash Crunch As China Repayment Schedule Ramps Up (R.)
Britain’s Chief Rabbi Mirvis Is Helping to Stoke Antisemitism (Cook)
Boris Johnson Replaced By Melting Ice Block In TV Debate (R.)
Greeks Are Last In Welfare Chart (K.)
‘There Is Only One Of Us Telling The Truth’ – Virginia Giuffre (Ind.)
Prince Andrew’s Ex Mulling Bombshell Tell-All Book (NYP)
How Prince Andrew Forced Me To Recognise The Hollowness Of The Crown (G.)

 

 

In my view this is far too close to “I was only following orders”. Draghi, Lagarde, Bernanke et al are responsible for their own actions.

The Limits of Lagarde (Varoufakis)

Shortly after the Eurogroup meeting of Eurozone finance ministers on June 27, 2015, I bumped into a worried-looking Mario Draghi, the president of the European Central Bank. “What on earth is Jeroen doing?” he asked me, referring to Jeroen Dijsselbloem, the Eurogroup’s then-president. “Damaging Europe, Mario. Damaging Europe,” I replied. He nodded, looking concerned. We took the elevator to the ground floor and parted silently. Journalists find it natural to assume that Draghi and I had a hostile relationship during the 2015 standoff between Greece, which I represented, and the ECB. But the impasse at which we had become stuck was not caused by a clash of characters, and it involved no mutual recrimination. Rather, it reflected an institutional failure for which I never held Draghi personally responsible. Hostility between us, being unnecessary, was absent.

My fleeting exchange with him came to mind as he recently vacated the electric chair amid much speculation about the ECB’s future direction under his successor, Christine Lagarde. It reminded me of the unacknowledged powerlessness of the ECB president, who leads a mighty institution that is far less independent in practice than it is in theory. Lagarde will now have to reckon with that powerlessness as she steers the ECB in a sea of deflationary hazards. During 2015, Draghi sometimes made decisions detrimental both to the Greek people and to Europe’s common interest. One came on February 4. On that morning, following a meeting I had in London the previous day with financiers to whom I presented my plans for a moderate debt restructuring, the Athens stock exchange index shot up by 13%, led by a gain of more than 20% for Greek bank shares.

With that wind in my sails, I flew to Frankfurt to meet Draghi for the first time. One might think that a freshly appointed eurozone finance minister who had just managed to boost his country’s financial assets significantly would be helped by his central banker. Instead, the ECB’s governing board decided the same day to sever Greek banks’ access to euro liquidity. Unsurprisingly, Greek corporate and banking shares crashed, wiping out the previous day’s gains. In any other country, the position of the central banker would be untenable. The remit of a central bank is to aid the government’s efforts to stabilize finance and support the economy. In the eurozone, however, political constraints force the central bank to inflict the kind of damage Draghi’s ECB visited upon our stock exchange that February afternoon.

Read more …

And they will have a lot more right soon.

Millennials Have a Right To Be Pissed at Boomers (Vice)

Just how badly are millennials being screwed out of wealth? Let’s take a look at the data. The Federal Reserve regularly publishes data on the generational gaps in wealth. The boomers have plenty of it, and millennials don’t. That’s no surprise — the boomers are older. But what recent data also clearly shows is that when the boomers were millennials’ age, they had significantly more than millennials do today. Back in 1989, when boomers were between 25 and 43, they already owned 20.9% of the country’s wealth, according to data from the Federal Reserve updated earlier this month. In 2019, millennials are between 23 and 38, and they currently own a whopping 3.2% of wealth. That means boomers had more than six times as much wealth in 1989 as millennials do now.


“I definitely think millennials have a bunch to be uniquely annoyed about,” said Josh Bivens, research director at the Economic Policy Institute. “Lots of them graduated into a horrible labor market, and they’ve probably been very stunted in their ability to get on the treadmill of earning enough to actually save anything.” Looking at wealth over time, any given generation would start out with nothing. (Children don’t own stuff.) As time passes, they’d accumulate wealth, and, eventually, people die and tend to pass their wealth on as inheritance.

Read more …

“Back in 2016, the credit-card delinquency rate at these banks was in the 3% range. It has more than doubled in two years.”

What’s Behind the Subprime Consumer Loan Implosion? (WS)

OK, we’ve got a situation in subprime consumer loans. The delinquency rate on credit-card loan balances at the nearly 5,000 smaller commercial banks in the United States – this means all banks except the largest 100 – is blowing out, according to Federal Reserve data. In the third quarter, the delinquency rate at these banks rose to 6.25%. That’s higher even than during the peak of the Financial Crisis. Back in 2016, the credit-card delinquency rate at these banks was in the 3% range. It has more than doubled in two years. Credit card balances are considered delinquent when they’re 30 days or more past due. This delinquency rate means that out of the banks total credit card balances, 6.25% are 30 days or more past due. This is a disturbingly large rate.


But delinquencies are a flow. Balances are removed from the delinquency basket either when the customer cures the delinquency, such as catching up with past-due payments, or when the bank “charges off” the delinquent balance against its loan loss reserves. But as these delinquent balances were taken out of the delinquency basket, even more new delinquencies fell into the basket, and the delinquency rate rose. Subprime auto loans have also been blowing out. In the third quarter, the serious delinquency rate of the $1.3 trillion in auto loans has risen to 4.71%, the highest since the worst months of the Financial Crisis, when the auto industry collapsed, and when the US was facing the worst unemployment crisis since the Great Depression. In the third quarter, about 21% of all subprime auto loans were seriously delinquent – meaning 90 days past due.

Read more …

The DOJ/Deep State protects its own?

DOJ Watchdog Expected To Downgrade ‘Spying’ On Trump Campaign (ZH)

In late September, RealClearInvestigations’ Paul Sperry suggested that Inspector General Michael Horowitz – tasked with investigating and exposing wrongdoing at the highest levels – was feared to be pulling punches in order to protect establishment darlings in his upcoming report on the Russia investigation. Now we learn that Horowitz, who volunteered on several Democratic political campaigns while in college and is married to a former liberal political activist, Obama donor and CNN employee, is expected to conclude that the FBI didn’t spy on the Trump campaign. Instead, when longtime FBI / CIA asset Stephan Halper and his undercover FBI ‘assistant’ named “Azra Turk” befriended George Papadopoulos, it was nothing more than “typical law enforcement activities,” according the New York Times.

“Mr. Horowitz found no evidence that Mr. Halper tried to infiltrate the Trump campaign itself, the people familiar with the draft report said, such as by seeking inside campaign information or a role in the organization. The F.B.I. also never directed him to do so, former officials said. Instead, Mr. Halper focused on eliciting information from Mr. Page and Mr. Papadopoulos about their ties to Russia. [..] Mr. Trump and his allies have pointed to some of the investigative steps the F.B.I. took as evidence of spying, though they were typical law enforcement activities. -NYT. Recall that the Obama administration had paid Halper over $1 million over a several years, with nearly half of it surrounding the 2016 election.

The report is also expected to conclude that Maltese professor Joseph Mifsud – who fed Papadopoulos the rumor that Russia had dirt on Hillary Clinton – is not an FBI informant. Mifsud, a self-described member of the Clinton Foundation, has been painted by Western media as a Russian asset. Except, nobody claimed Mifsud was an FBI informant. As The Conservative Treehouse notes, “The concern has always been Mifsud was a western intelligence asset, perhaps CIA.” Moreover, Horowitz will conclude that while the FBI was ‘careless and unprofessional’ in pursuing a wiretap on Trump campaign adviser Carter Page, and that a ‘front-line lawyer’ Kevin Clinesmith, 37, fabricated evidence to support a FISA spy warrant renewal against Page, that the underlying justification to go after Page remained intact.

Read more …

Belt and Road.

Papua New Guinea Faces Cash Crunch As China Repayment Schedule Ramps Up (R.)

Papua New Guinea’s annual debt repayments to China are forecast to increase 25% by 2023, new budget figures show, at the same time as the Pacific nation falls to its largest ever deficit. The resource-rich archipelago, which is at the center of a diplomatic tussle between China and the United States, has blamed extravagant spending by the previous administration for its souring finances, which will require the government to borrow even more to pay the bills. Balancing its books has been made more difficult by recalculations to the country’s outstanding debt. It has soared 10 percentage points since the last annual budget to 42% of GDP, above the legal limit of 35%.


“You have some of those loans clicking in; the repayments are going to be a problem,” said Paul Barker, executive director of Port Moresby-based think tank the Institute of National Affairs. Formerly administered by U.S. ally Australia, PNG has in recent years turned increasingly to China for financing as Beijing becomes a bigger player in the region. The U.S. has repeatedly warned that China was using “predatory economics” to destabilize the Indo-Pacific; a charge strongly denied by Beijing.

Read more …

Yup.

Britain’s Chief Rabbi Is Helping to Stoke Antisemitism (Cook)

Chief rabbi Ephraim Mirvis has not only misrepresented the known facts about Labour and its supposed antisemitism crisis. He has not only interfered in an overtly, politically partisan manner in the December 12 election campaign by suggesting that Jeremy Corbyn – against all evidence – is an antisemite. By speaking out as the voice of British Jews – a false claim he has allowed the UK media to promote – his unprecedented meddling in the election of Britain’s next leader has actually made the wider Jewish community in the UK much less safe. Mirvis is contributing to the very antisemitism he says he wants to eradicate. Mirvis’ intervention in the election campaign makes sense only if he believes in one of two highly improbable scenarios.

The first requires several demonstrably untrue things to be true. It needs for Corbyn to be a proven antisemite – and not just of the variety that occasionally or accidentally lets slip an antisemitic trope or is susceptible to the unthinking prejudice most of us occasionally display, including (as we shall see) Rabbi Mirvis. No, for Mirvis to have interfered in the election campaign he would need to believe that Corbyn intends actively as prime minister to inflame a wider antisemitism in British society or implement policies designed to harm the Jewish community. And in addition, the chief rabbi would have to believe that Corbyn presides over a Labour party that will willingly indulge race-hate speeches or stand by impassively as Corbyn carries out racist policies.

If Mirvis really believes any of that, I have a bridge to sell him. Corbyn has spent his entire political career as an anti-racism campaigner, and his anti-racism activism as a backbencher was especially prominent inside a party that itself has traditionally taken the political lead in tackling racism. The second possibility is that Mirvis doesn’t really believe that Corbyn is a Goebbels in the making. But if that is so, then his decision to intercede in the election campaign to influence British voters must be based on an equally fanciful notion: that there is no significant threat posed by antisemitism from the right or the rapidly emerging far right. Because if antisemitism is not an issue on the right – the same nationalistic right that has persecuted Jews throughout modern history, culminating in the Nazi atrocities – then Mirvis may feel he can risk playing politics in the name of the Jewish community without serious consequence.

Read more …

I thought it was funny. But Boris threatens to take Channel 4’s licence away.

Boris Johnson Replaced By Melting Ice Block In TV Debate (R.)

British broadcaster Channel 4 represented Prime Minister Boris Johnson with a block of melting ice in a prime-time election debate on the environment on Thursday, prompting his Conservative Party to complain this broke impartiality rules. The commercially funded public-service broadcaster invited leaders of all Britain’s main political parties to take part in the debate before Dec. 12’s election, but both Johnson and the leader of the Brexit Party, Nigel Farage, declined to attend. The Conservative Party offered former environment minister Michael Gove as a substitute, but the broadcaster said the debate was only intended for party leaders, and that the other political parties would not agree to change the terms.


“This effectively seeks to deprive the Conservative Party of any representation and attendance,” the Conservatives wrote in a letter of complaint to broadcast regulator Ofcom. British television broadcasters are required to be politically impartial, and face extra balance requirements during election periods. Ofcom can fine broadcasters that do not comply, and as a last resort can cancel a broadcaster’s license. The Conservatives said Thursday’s disagreement was “part of a wider pattern of bias by Channel 4 in recent months”. The broadcaster’s head of news and current affairs, Dorothy Byrne, described Johnson as “a known liar” in a major industry speech in August.

Read more …

“Six out of 10 Greeks have delayed paying at least one utility bill over the last 12 months..”

Greeks Are Last In Welfare Chart (K.)

Six out of 10 Greeks have delayed paying at least one utility bill over the last 12 months, and in seven out of 10 of those cases it’s not just a one-off incident but a regular occurrence. Some of those who eventually do pay their bills do so with borrowed money, mainly from friends, according to the findings of the European Consumer Payment Report 2019. The survey of 24,000 consumers in 24 European countries by Swedish company Intrum has brought to light a number of worrying trends on the European level, such as a return to excessive consumer borrowing, something that is spurred considerably by easy access to credit cards and loans obtained via the internet or the telephone, for example.


The report showed that 61 percent of Greeks had failed to pay at least one bill in the previous 12 months, which is the highest rate among the 24 countries surveyed and almost twice the European average of 33 percent. Worse, 68 percent of those who failed to pay on time said they did so regularly, also the highest rate in Europe, against an average rate of 47 percent. Furthermore, Greeks also had the highest rate (40 percent) of people who had borrowed money or maxed out their credit cards. The European average stands at just 24 percent, based on data from the 24 countries surveyed by Intrum.

Read more …

Three articles on Proice Andrew, just to indicate how much the pressure increases. Will The Firm give him up to save itself?

‘There Is Only One Of Us Telling The Truth’ – Virginia Giuffre (Ind.)

The woman who claims she was forced into sex with Prince Andrew as a teenager said in her first UK interview: “He knows what happened, I know what happened and there’s only one of us telling the truth.” Virginia Giuffre, previously known as Virginia Roberts, said being caught up with the Duke of York and Jeffrey Epstein was “a really scary time in my life”. The BBC‘s Panorama programme released a trailer on Twitter of its upcoming episode, which features an interview with Ms Giuffre, who claims she was made to sleep with Andrew when she was 17. The hour-long episode, titled The Prince and the Epstein Scandal, will be screened on BBC One on Monday.

Ms Giuffre alleges the duke had sex with her on three separate occasions. He denies the allegations and has insisted he has “no recollection of ever meeting this lady”. Ms Giuffre has also criticised the Metropolitan Police for failing to investigate her allegations. In a statement on Thursday, the Met said it stood by its decision not to investigate claims by the duke’s accuser, and added that officers had spoken to other law enforcement agencies but have “not received a formal request asking for assistance”. The Met said it reviewed its previous decision that it was “not the appropriate authority to conduct inquiries in these circumstances” following Epstein’s death in August, and that its position remained unchanged.

Epstein took his own life in a New York prison while he was being held on sex trafficking charges. William Barr, the US attorney general, has slapped down conspiracy theories claiming the trafficker was murdered, saying that he died in a “perfect storm of screw-ups”.

Read more …

Publishers can’t not look at this, it’s too lucrative.

Prince Andrew’s Ex Mulling Bombshell Tell-All Book (NYP)

Prince Andrew’s socialite ex is considering penning an explosive tell-all book — including details of a dinner party with Jeffrey Epstein attended by both Bill Clinton and Donald Trump, it was claimed Thursday. Lady Victoria Hervey, 43, has already been doing interviews discussing her brief fling with the Duke of York and how it threw her into the heart of Epstein’s depraved world. She says she was introduced to the pedophile by his accused madam Ghislaine Maxwell — who she likened to a James Bond character — and feels she only escaped Epstein’s clutches because she was “too old.” But Hervey kept back many of the juiciest details, which she now could put in an explosive book that could further embarrass the disgraced duke, according to The Sun.


“There is a lot that she has never revealed about the Royal family, members of high society and big-named stars,” a source close to her told the paper. “She’s done many interviews but has always kept many things under her belt. “She feels like now is the right time to get some things off her chest — including about Prince Andrew, Jeffrey Epstein and Ghislaine Maxwell. “She’d been a part of that social scene for many years.” Hervey’s “really explosive life” also includes “debauched drug-fueled parties, threesomes with celebrities — all sorts,” the source told The Sun of her book plans. “She has had a lucrative offer to write a book and she’s definitely considering it,” the source said.

Read more …

G-d only knows why anyone would want to watch this sort of thing, but now the royal family is forever linked to pedophilia.

How Prince Andrew Forced Me To Recognise The Hollowness Of The Crown (G.)

Before the advent of The Crown – the Netflix show, not the institution – Princess Margaret was widely regarded as a snobbish, spiteful creature. That image has been refurbished: to fans of the show, she is firmly established as poor Margaret, the dazzling, tragic second fiddle to the Queen, who only wanted a meaningful role. After two seasons, I had been thinking of Margaret this way myself, while gussying up uncharacteristically warm feelings for the royals. The Queen does a good job, I thought. So what if she’s a little dull, isn’t that the bedrock of service – dependability? It’s not often one has one’s delusions dismantled in real time, but so it has been, this past fortnight, witnessing Prince Andrew’s flagrant awfulness in tandem with The Crown’s terrible third season. The experience has been like a sudden, dramatic return to reason.

There was never a subversive element to The Crown, and nor was there need for one. As we know from the small amount of documentary footage that exists of the Queen in her off-hours, the most outlandish drama one can eke from the royals lies in the depiction of them doing “ordinary” things: watching TV, smiling. This drama only works if one is willing to be charmed, a feat that the early seasons achieved. They also adhered to the narrative put forward by the House of Windsor itself: however misguided its application, the animating principle of all royals – with the exception of Edward VIII – was duty, honour, loyalty. If the royals have a fault, the show suggests, it is that they take these principles too seriously, particularly when they come into conflict with more human considerations.

In Prince Andrew’s catastrophic TV interview, the precise, delusional nature of his language – his now infamous line, “my judgment was probably coloured by my tendency to be too honourable” – mirrored so exactly the ethos of the show, it could have served as its tag line. One can only imagine how the script, in its current form, would treat Andrew’s predicament: as the story of a prince crushed by the weight of his own nobility; the tragedy of a man whose saucy impulses had nowhere to go.

Read more …

 

 

 

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Home Forums Debt Rattle November 29 2019

This topic contains 13 replies, has 9 voices, and was last updated by  V. Arnold 2 weeks, 1 day ago.

Viewing 14 posts - 1 through 14 (of 14 total)
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  • #51799

    Dorothea Lange Negro woman who has never been out of Mississippi July 1936   • The Limits of Lagarde (Varoufakis) • Millennials Have a Right To B
    [See the full post at: Debt Rattle November 29 2019]

    #51800

    Trump went to Afghanistan for Thanksgiving. Big mistake. He should have gone to Turkey

    #51801

    V. Arnold
    Participant

    😉 🙂 very funny…………….. 🙂

    #51802

    V. Arnold
    Participant

    The whole millennials vs boomers thing, is bullshit!
    Which boomers? I’m a boomer; I’m poor by all the standards; if I lived in the west.
    Millennials? I’m of the impression they’re lazy and totally lacking in imagination; and wimps lacking get up and go and endurance.
    But see? Not all millennials fit that picture…
    So! What are the facts? That would involve actually looking into the reality of past and present generations, no?

    #51803

    Dr. D
    Participant

    “Negro woman who has never been out of Mississippi “

    Why would it be odd for a farmer to never leave the state? Especially in the Depression? Is Lange also one of the jet-setting Harvard elites that she expects all America takes a two-week holiday on the Jersey Shore? Even the middle class can’t afford this, even today. (Of course by definition, that would make you ‘not middle class’ but government lawyers set the definitions. and because, paid adults, they lie.)

    “Thanksgiving Is Canceled for Climate Change.”

    “Driving is less detrimental, but American cars emit close to a pound of CO2 per mile driven.”

    Wow people. Use your heads. Cars get 25mpg. That’s 1/25 gal/mile. A gallon is 8 pounds. I think you’re already with me here that 1/25th of 8 pounds is a lot, LOT less than a pound. (It’s a third of one pound.) And I doubt a fraction of THAT is CO2 as others waste products are emitted.

    Why do they lie? Then add lies to the lies? Then exaggerate the lies? Then cover the lies with the – apparently totally fake, fabricated, discredited – appeal to authority of science? Instead they just discredit science, then attack anyone with the common sense of a moo-cow, or a 6th grader.

    Why? They told us themselves throughout the 80s: no one was listening, they needed a crisis to MAKE people save the planet, even if they had to make one up. …So they did, as the Club of Rome published, and you can read for yourself. …Didn’t save the rhinos though. Maybe they should have tried honesty; we’re fighting the wrong enemy.

    What else can we learn? ““Meat and meat byproducts (cheese, butter and heavy cream, for example) have a larger environmental footprint than plant-based ingredients,” complains Alexandra Emanuelli.”

    Well yes. They are also 10x more nutritious too. So if they were 10x more energy intensive, they would only be equal to cabbage. Also – and they love this lie most of all – just because we DO ship pigs to China and back to be processed, doesn’t mean we HAVE to. A chicken in my yard has ZERO carbon, less than their salad. They just assume every calorie has the worst profile they can find, and every kale salad has the BEST profile they can find. (It doesn’t. It comes from California or New Zealand, where it’s irrigated with gasoline pumps, pulling water from rivers and aquifers) But, that’s Science for ya. And they wonder why people are starting to not believe them. They’ve been lying like this for 50 years, they’re far TOO loving and conciliatory to lying liars and their transparent lies, what took them so long to call bulls–t on this garbage?

    …and then LaGuarde is going to use the bank to stop climate change. Um, Chris? Where did you get that mandate? Because if you can just make it up, I’d make one that gives free ice cream to all children under 12. Okay, as the fire is directed at her, HOW would you plan to do that? Cut off banking to everyone you don’t like, as they do on Twitter and Facebook? Give free money to environmental projects that aren’t at all economically viable? …But they’re already do those things. How, exactly?

    But why stop there? If you can decide THIS is your mandate, for the good of humanity, why not take on social justice, racism, naughty speech and anything else on earth you dislike a little, like broccoli?

    This is what it’s like living in a world without rules, boundaries, or order, where your God is #AntiLogos.

    “Millennials Have a Right To Be Pissed at Boomers. This Data Proves It.

    New old front in trying to cause a civil war. If they don’t deserve it, you just kill your parents and inherit it! It was yours anyway, right?

    P.S. why did you get $100,000 in debt taking underwater basketweaving? Oh, you believed these jokers? Why? No kids had ever believed their parents before. Over 30 much? Lost Generation? Honestly though, this is a tough onion to unwrap, I’m just saying that hate and taking other people’s stuff is never a great start to right a wrong.

    ““typical law enforcement activities,”

    Yes, we know that using the secret state to spy on opposition candidates is “typical”. That’s the problem. $1M to ask a 3rd unknown hireling one question. Do go on. Explain to me how all that works and is legitimate. He works for the Clinton Fund. So that, MY, money wasn’t just sent from me, through him, to Clinton or the opposition party? Can you see why you don’t want to get started here?

    Six out of 10 Greeks have delayed paying at least one utility bill over the last 12 months..”

    Probably pretty similar in America. Might have the option of kiting credit cards to hide it though.

    G-d only knows why anyone would want to watch this sort of thing, but now the royal family is forever linked to pedophilia.”

    I wouldn’t sweat it. They did the Seville thing only 3-4 years ago and no one blinked. A few other kids came out about other PMs and officials at the time. Nothing changed. No one cared. No hospital, accomplice, or the BBC was charged. Because this is the sort of thing they WANT. …Want to cover their own blackmail, at least. I mean if you can’t cover your bad habits and not be arrested, what’s even the point of being in government, media, jet-set?

    #51804

    Dr. D
    Participant

    …You see, since the Technocrats in the ’30s, they were going to replace the failing debt-compounded currencies, with a NEW, made-up, infinitely-hypothocated Carbon Credit. If they can’t get that replacement, they die. And considering the present currency is the “Petrodollar”, backed by oil, it’s not that far a jump. The Technocrats — you know the ones who wanted your vouchers, or currency to vanish every 30 days, keeping the people in perpetual darkness and poverty — they called it a “BTU-credit.” Yes, synonymous with Carbon-Credit. They’re the “Old World Order”, not otherwise, and their goal is to re-establish feudalism, as we saw when the USSR was run by the same fools, to the ruin of nearly all, and unparalleled environmental destruction

    That’s how she’s going to, HAS to, link her bank and failing Europe to the environment and AGW. As a new profit and control center.

    #51807

    John Day
    Participant

    @Dr.D
    Burning a gallon of gasoline makes about 20# of CO2, since the weight of the oxygen is combined with the weight of the carbon. https://www.fueleconomy.gov/feg/contentIncludes/co2_inc.htm
    It makes H2O, also.
    I wondered before if this lady is the same lady who walked home from church carrying her shoes.

    #51810

    zerosum
    Participant

    @Dr.D
    Did I get the wrong message from your comments?
    Every one is telling the truth because THEY ARE OMITTING THE FACTS THAT CONTRADICT.

    #51811

    Factotum
    Participant

    Elaborating what John Day said:

    Actually, the pound per mile is not a bad approximation. Your oversight is forgetting that the carbon in gasoline is added, by weight, to two parts oxygen from the atmosphere.

    The molecular weight of Carbon is about 12 g/mole, and oxygen 16 g/mole. This puts the molecular weight of CO2 at 44 g/mole with the carbon part making up only 12/44 of the weight.

    Gasoline is a complex mixture of hydrocarbons boiling between 120 and 400 degrees F, with chemical formulas between C6H14 and C12H26, but a good “average” compound is C8H18. So, with hydrogen having a molecular weight of 1 g/mole, the 8 pounds of gasoline will have 96/114 parts carbon, and 18/114 parts hydrogen. This results in 6.74 pounds of carbon per 8 pounds of gasoline.

    And 6.74 pounds of carbon will burn with 18 pounds of oxygen to produce 24.7 pounds of CO2. With a mileage of 25 mpg (which is the average fleet mileage for the 2017 model year – older cars have worse) the “close to a pound of CO2 per mile driven” is a darn good estimate.

    Of course this is more high-school chemistry than 6th grade chemistry.

    #51812

    Diogenes Shrugged
    Participant

    #51823

    seychelles
    Participant

    Mirvis is contributing to the very antisemitism he says he wants to eradicate.

    As are the American Ziocrats in banking, politics, the “legal” system, MSM and “their” educational system. Blowback isn’t going to be pleasant.

    #51825

    Diogenes Shrugged
    Participant

    It occurs to me a little too late that I’ve been had. My apologies to all. I fell for it like a total idiot.

    When it gets to the point that deep fakes cause photographic evidence to be deemed inadmissible in court, civilization itself will have crested. It seems to me, anyway.

    #51826

    WES
    Participant

    For better word ecomony, are you saying the trapped Carbon in a gallon of gas, escapes when burnt in a gasoline engine by catching a free ride with Oxygen, until both are captured by a tree, and then the Carbon is re-trapped as wood, thus setting Oxygen free again?

    #51836

    V. Arnold
    Participant

    I wondered before if this lady is the same lady who walked home from church carrying her shoes.

    Yes, it is indeed the same woman…

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