Posts filed under “Really, really bad calls”

WSJ: Are Humans Responsible for Climate Change?

Wow, the results of this WSJ poll was surprising:

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Human cause
chart courtesy of WSJ

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And they teed up the poll with this description:

This decade is on track to become the warmest since records began in 1850, and 2009 could rank among the top-five warmest years, the U.N. weather agency reported on the second day of a pivotal 192-nation climate conference.

What do you think is causing the warm-up?  Is it human activity on the planet, or a natural cycle?

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Source:
Current Decade on Track to Be Warmest on Record
Associated Press
WSJ, DECEMBER 8, 2009

http://online.wsj.com/article/SB126027972598681805.html

Category: Really, really bad calls, UnScience

Michael Boskin on “The Obama Crash”

They never seem to learn, do they? The idealogues who use the ups and downs of markets to critique political figures. These, rigid, rabid partisans care not the least about your investing dollars; rather, the hardcore political junkies are more than happy to lose you money, so long as they can score political blood in…Read More

Category: Politics, Really, really bad calls

We Don’t Know How Black Friday Sales Were Yet

Today, the WSJ ran this patently incorrect headline (which many TV stations dutifully (mis)reported: Black Friday Spending Rose Slightly Preliminary sales data showed shoppers spent $10.66 billion on Black Friday. That’s 0.5% more than last year. The figures were compiled by ShopperTrak RCT Corp., a Chicago research firm that tracks sales at more than 50,000…Read More

Category: Consumer Spending, Data Analysis, Really, really bad calls

Fox News (Chicago) Makes the Best. Pie Chart. Ever.

Fair & Balanced? Not exactly. Mathematically competent? Not one tiny bit. > Hat tip Flowing Data ~~~ Update: Here is the Video (Nov 23)

Category: Financial Press, Mathematics, Politics, Really, really bad calls, Television

Site of the Day: Innumeracy.com

> Some good learnin’ here: This web site stems from a personal interest in critical thinking and is a collection of links to articles and sites pertaining to numeracy and critical thinking. Links should be good for at least the date posted. After the posting date, link reliability depends on the policy of the linked…Read More

Category: Mathematics, Really, really bad calls

Gramm: Glass Steagall Repeal Irrelevant

Phil Gramm, the former Republican Senator from Texas who co-wrote the act that undid Glass-Steagall, has our DQotD: > “I’ve never seen any evidence to substantiate any claim that this current financial crisis had anything to do with Gramm-Leach-Bliley. In fact, you couldn’t have had the assisted takeovers you had. More institutions would have failed.”…Read More

Category: Bailouts, Really, really bad calls, Regulation

Volcker: Accounting Panel Needs to be Independent

Why aren’t we listening more to this font of common sense and logic? “A proposal to give banking regulators authority to block accounting standards is “a terrible idea,” Paul A. Volcker, a former chairman of the Federal Reserve Board, said Monday. Mr. Volcker has been an outspoken critic of “mark to market” accounting that forced…Read More

Category: Bailouts, Really, really bad calls, Regulation

Ayn Rand: The Boring Bitch is Back

There is a substantial take-down of pedantic bore Ayn Rand in GQ. They tease it thusly: 2009′s most influential author is a mirthless Russian-American who loves money, hates God, and swings a gigantic dick. She died in 1982, but her spawn soldier on. And the Great Recession is all their fault. I love that because…Read More

Category: Psychology, Really, really bad calls

Hubbert Peak Theory of Oil Rock

Long standing readers of TBP know I like to try to slip in a lesson or two. The humor and money making market commentary is used as a device to keep you coming back and learning, despite yourself. Today, I require no pretense for the edumacation. Instead, I will demonstrate one of my favorite peeves,…Read More

Category: Really, really bad calls, Technical Analysis

Jim Chanos’ presentation at the Virginia Value Investing Conference: > Chanos Presentation: Ten Lessons From The Financial Crisis That Investors Will Soon Forget (If They Haven’t…

Category: Psychology, Really, really bad calls, Think Tank