Worst. DA. Ever.

Andrew Thomas was very competitive in Radley Balko's Worst Prosecutor of the Year voting.  But if he had just waited a few days, this news could have easily put Thomas over the top:

The same people responsible for tens of millions in claims being filed against Maricopa County are now drooling after their own pot of gold.

Former Maricopa County Attorney Andrew Thomas and David Hendershott, Sheriff Joe Arpaio's former right-hand man have filed a notice of claim along with Thomas' former lackey, Lisa Aubuchon, for a combined total of $60 million.
Aubuchon had already filed a $10 million claim; she's revised that to $22.5 million. Andrew Thomas, who quit the job voters gave him and failed in his bid to become state Attorney General, has the gall to seek $23.5 million from taxpayers. And Hendershott, the infamous Chief Deputy now under investigation following a co-worker's allegations of corruption and abuse of power, wants $14 million.

For the first time in my life, I voted in a partisan primary for the Coke/Pepsi parties this year specifically to vote against Thomas.  I cannot even imagine why they think they deserve this kind of payoff.  If anyone should be suing, it is the citizens of Maricopa County who should be suing these three.  Lots of articles about him on my site, but this one in the ABA Journal covers a lot of the ground.

Spiderman Musical Review (Turn Off the Dark)

OK, I saw the Spiderman musical (still in pre-production) on Broadway last week.  I thought I would share some thoughts about the show.  Note that I like musicals and have been to a bunch but I am by no means an expert.

The show began with an unforced error, which seemed really dumb given the bad press the show has been getting (mixed reviews combined with some very high-profile accidents).  I showed up 20 minutes early and found a line for the Will Call (not ticket purchase, but simply ticket pickup) that went down the entire long block.  It took me 40 minutes just to pick up my tickets.  The show started late, but I still missed the first number, and a LOT of people were behind me.

The show was sold out on a Wednesday night.  I don't know if this is a measure of its popularity or the new Nascar, waiting for an accident aspect of the show.  A friend of mine said he went the week before and the show had three long halts  (there is a lot of technical stuff going on in the flying -- the stops feel exactly like when the ride stops at DisneyWorld).  We had only two very short ones.

The staging is amazing.  Actors fly all around the stage, and more impressively, soar and fight above the audience, frequently landing on the railings of the balconies.  The stage itself is well done - they do a nice job creating the illusion of great height when scenes take place on the top of buildings.

The dancing is fun, in a high energy way.  Often it is more tumbling and gymnastics than dancing, but entertaining.

The plot in the first half is solid - the classic spiderman origin myth -- if you have seen the recent movie you have got it.

For me, the wheels really came off the bus in the second half.  The villain is Arachne -- not some super villain with an appropriate name, but the actual Arachne from greek mythology that Athena turned into a spider.  Arachne is a combination scorned lover, unkillable super-villain, and source of redemption and has these sort of spider minions around her.  This whole plot angle did not work at all for me.

Why the problem?  Well, they killed off the first villain in the first act.  So, without even being a sequel, they created the sequel problem in the second Act -- how do you top the first villain?  And like many sequels, it became over the top and incoherent.

OK, and now for the final problem:  The music was entirely forgettable.  There were no musical themes that helped unify the show (as someone like Andrew Lloyd Weber does).  There were just a bunch of unrelated songs  (I suppose there could have been a reprise, but the music being reprised was so forgettable that I forgot it).  The music established the right moods -- dark or heroic or romantic, but it was just wallpaper behind the actors.

I would not have had trouble with it if Bono and Edge had, being new to musical theater, tried to do something really different and failed.  But they simply cranked out a bunch of utterly bland show tunes.  A couple were OK at the time, but I sure wasn't whistling them on the way out.  In contrast, I saw Chorus Line 30 years ago and still can sing bits of several songs.

Weird Fact: Dr. Normon Osborn (who in the show is not only Green Goblin but also the creator of the mutant spider that gives Spiderman his powers) looks exactly like Madam Hooch in the Harry Potter movies.  As Green Goblin he looks more like a green Gene Simmons.

Tucson Shooting Prediction

Here is the next bit of news I bet we will hear:  One of the victims or his/her families will sue Safeway, whose only involvement in the crime was that it had offered the parking lot as a location for Ms. Giffords constituent meeting.  Increasingly, though, the tort system is not about justice, but about finding deep pockets somehow tangentially connected to a tragedy.  I will bet that some lawyer right now is crafting a suit based on Safeway's inadequate security, poor judgement in allowing the meeting on their property, failure to warn customers of the potential dangers of attending such a political meeting, etc. etc.

Living in Fear of Seemingly Everything

The next great danger to western civilization is ... wood burning fireplaces.

“The smoke from a fire smells very nice,” said Diane Bailey, a senior scientist with the Natural Resources Defense Council in San Francisco. “But it can cause a lot of harm.” The tiny particles, she said, “can cause inflammation and illness, and can cross into the bloodstream, triggering heart attacks” as well as worsening other conditions....

Not surprisingly, the green community has been sounding the alarm for some time. For the last several years,TheDailyGreen.com, an online magazine, has advocated replacing all wood-burning fireplaces with electric ones; an article published in September by Shireen Qudosi, entitled “Breathe Easier With a Cleaner Fireplace,” argued that there is no such thing as an environmentally responsible fire: “Switching out one type of wood for another is still use of a natural resource that otherwise could have been spared,” Ms. Qudosi wrote. And last fall, an article on the Web site GreenBlizzard.com, “Cozy Winter Fires — Carbon Impact,” called wood-burning fires “a direct pollutant to you, your family and your community.”...

Karen Soucy, an associate publisher at a nonprofit environmental magazine, isn’t swayed by that argument. She refuses to enter a home where wood has been burned, even infrequently.

Ms. Soucy, 46, blames fumes from a wood fire for sending her to the emergency room 25 years ago with a severe asthma attack. She had been staying at a friend’s house in Stowe, Vt., for about a day, she said, when her lungs seized up. She was taken to a hospital in an ambulance, and got two shots of adrenalin; the doctors blamed her friend’s cat.

“It was only later, working with a team of allergy doctors and pulmonologists, did we determine the culprit to be the wood-burning fumes from the various fireplaces,” Ms. Soucy said.

Now her husband scouts out any place they go in advance, to be sure it’s free of fireplaces, and she passes up countless dinners and parties. “I’m the one who feels guilty for always being the one to decline invitations or for making people go out of their way to clean their home,” she said. Even then, she added, “the smell lingers on everything.”

Absolutely, if you are worried about CO2 emissions, make sure you use an electric heater (some of the most inefficient sources of heat on the planet) powered by a big honking coal plant.  Because after all, in you hadn't burned that tree, it would have just fallen over and decomposed into ..uh.. Co2.  Which is why I personally advocate shrink-wrapping all Christmas trees after use and burying them deep, rather than mulching them as most cities do, to save the planet.

A Simple Rule of Thumb

Here is a simple rule of thumb:  Public officials should have no expectation of privacy when performing their public functions.  Period.  Except for some really narrow exceptions, I can't think of any justification for prosecuting people filming police officers than the officer's desire to avoid accountability.

I grew up in the South and saw the tail end of Jim Crow.  This is how we are achieving the new equality -- in the future, everyone will be treated by the criminal justice system like blacks have been in the deep south.

Minimum Wage

My Forbes column is up on the minimum wage.  It covers some of the ground I could not get to on TV the other night.

State Bankruptcy Prediction

There seems to be discussion in Washington about creating a legal framework for state bankruptcies.  My guess is that any law that might be passed will simply be a Trojan Horse.

A lot of people (including myself) would like the idea of the tough provisions applied to individuals who are bankrupt being applied to states.  Unfortunately, it is wildly unlikely that this is actually what we will get.  Any such law would likely just be a bailout program renamed "bankruptcy" to make it more palatable to the public, a transfer of obligations from state to federal taxpayers without any real imposition of discipline or cleanup of long-term obligations like pensions.  Heck, this is exactly what happened at GM, and that was just a private company.

Some might assume that a Republican House would be loathe to support bailout provisions for California, but two thoughts come to mind.

First, California, despite being a blue state, has plenty of red Congresspersons who will scream support for a bailout (for a parallel, think ethanol or farm subsidies, where grain state Republicans are among the first to break ranks with their brethren to support government interventionism).

Second, it is not clear that the Administration even needs the Congress any more to dish out money.  It has found so many extra-Constitutional ways to appropriate money without actually having to go to Congress (e.g. use of TARP funds for about anything, use of the Federal Reserve, etc.) that it should be no problem to do this without the House.  Take just one idea -- Imagine California issues a $100 billion in 0.0000005% 100-year bonds that the Fed then buys at face value with printed money (as they have been buying US securities).  Instant bailout, no Congress.

The Short, Pithy, Minimum Wage Bon Mot I Should Have Said

For many, low wage jobs are the first rung on the ladder to success and prosperity.  Raising the minimum wage is putting the first rung of the ladder out of reach of many low-skilled Americans.

File this under "why I blog rather than do a lot of talking head cable shows."

Additional Tease for my Stossel Appearance

I love it when progressive policy wonks who have never, and would never sully their hands with running an actual productive enterprise, tell me I must be running my business wrong.

Spiderman Tonight

Well, after flying 10 hours round trip to do 5 minutes of television  (don't get me wrong, it was a new enough experience that I am glad I did it) I am going to reward myself by seeing Spiderman the musical tonight.  Seriously, Bono, Edge, Spiderman, stage accidents?  I have to give it a chance, despite mixed reviews.  I will post reviews tomorrow.

Coyote on TV

I flew to New York to go in studio on the Stossel show today.  I did a brief bit on the minimum wage, a reprise from my earlier cameo on Stossel special.  It will be on tomorrow, Thursday at 9PM Eastern on Fox Business  (not Fox News, Fox Business).

The whole experience was new to me, which made me virtually unique as I was surrounded by policy wonks who do this kind of talking head thing all the time.   By the way, there was no sharing of questions or his plan in advance -- I think they want you cold.  So answers are all in real time.

Please, please, please do not write me or post comments such as "you should have said ____."  It will just depress me.  Believe me, 5 minutes after walking out I thought of 9 things I should have said.  Which is in fact why I blog rather than engage much any more in real time argument.

Anyway, I think his show will be pretty good -- he has Michael Cannon on health care and segments after mine on cash for clunkers and alpaca subsidies.  I shared the green room with an alpaca, which will probably just go to prove the old saying about always getting upstaged by kids and animals.

By the way, I think Stossel must set a different tone for his staff than is normal on TV.  I was talking to one of his producers, a guy that had come with Stossel from ABC, and I asked him if he had studied something relevant to this job in college.  I expected him to say "yes, theater" or "yes, television production."  But he said "yes, economics at George Mason."  I loved that answer.

OK, This is Actually a Kind of Cool Application of Green Technology

MUCH better than stockpiling food and ammo in some crappy mountain retreat, this is the way to ride out the end of civilization.

Lindzen on Global Warming

Richard Lindzen has a great article out that summarizes much of the skeptic's case.  I do not have time to excerpt it right now, but I don't have to because Bruce McQuain does such good job.  If you find Lindzen's arguments interesting, I encourage you to watch my climate video that makes many of the same points with the addition of graphics and charts to make the points clearer to those who don't spend all their time wallowing around in these climate issues.

I Just Paid $25 (a person!) to See A Movie

We tried out the new IPic theater yesterday.  They are shooting at a super-premium niche, and we went for the top package.  For our money we got free valet parking, free popcorn, and an unbelievable luxury recliner seat as nice and roomy and comfortable as anything in your house.  Waiters brought food and drinks (including cocktails) to our seats, and my wife got a nice pillow and blanket.   Not sure I am taking the kids to the smurf movie (yes, there is one coming) at this place, but it was a great date night with the wife, and in the current economy had a sort of Fiddling While Rome Burned kind of vibe to it.

Conversation with My Son

My 16-year-old took the car into the shop today and had his first experience dealing with the repair guy.  I told him that they may call him and tell him he needs some work done on the car, like they will say he needs to have the flux capacitor flushed for $300, and if he was in doubt, call me.  He said fine, but if they tried to sell him laser canons, he was going for it.

I'm OK

For those of you worried, the coyote that was shot by the Boston environmental police (!) was no relation.  Though I would not be surprised if RFK Jr. had them ordered after me, given his statements about global warming skeptics.  HT TJIC

Never Trust the Judicial Process

It is impossible to trust the judicial process after reading this (via Radley Balko) and realizing that this kind of thing must go on all the time.  In fact, our heroes on TV shows engage in behaviors not much more honorable than this.  You can't watch a TV crime drama for five minutes without seeing police and prosecutors pressuring witnesses.  I was Castle the other day with my 12-year-old daughter (her favorite show, and being a Nathan Fillion fan I am happy to watch it with her) and as usual they were interviewing some suspect and she started doing what has become her habit in these situations -- she started screaming "lawyer -- get a lawyer" at the suspect.  Good for her.

Credentialism: A Problem that Cuts Both Ways

From the Chronicle of Higher Education via TaxProf Blog

If you want to get a job at the very best law firm, investment bank, or consultancy, here’s what you do:

1. Go to Harvard, Yale, Princeton, or (maybe) Stanford. If you’re a business student, attending the Wharton School at the University of Pennsylvania will work, too, but don’t show up with a diploma from Dartmouth or MIT. No one cares about those places. ... That’s the upshot of an enlightening/depressing study about the ridiculously narrow-minded people who make hiring decisions at the aforementioned elite companies. ... These firms pour resources into recruiting students from “target schools” (i.e., Harvard, Yale, Princeton) and then more or less ignore everybody else. Here’s a manager from a top investment bank describing what happens to the resume of someone who went to, say, Rutgers: “I’m just being really honest, it pretty much goes into a black hole.”

Being, I suppose, an insider to this process (Princeton - Harvard Business School - McKinsey & Company) I'd like to make a few comments

  • First and foremost, this problem cuts both ways.  I can imagine outsiders are frustrated with the lack of access.  But as an insider I can tell you  (cue Admiral Akbar) It's a Trap!  You go to Princeton, think, wow, I did well at Princeton, it would be a waste not to do something with that.   You are a competitive sole, so getting into a top grad school is an honor to be pursued just like good grades.   So you go to Harvard Business School (it could have been Harvard Law) and do well.  And what is the mark of achievement there? -- getting a job at a top consultancy or top investment bank.  So you take the McKinsey job, have your first kid, and what do you find out?  Wow, I hate this job!  In fact, the only thing I would have hated more is if I had taken that Wall Street job.   Eventually you find happiness running your own company, only to discover your Ivy League degrees are a liability since they intimidate your employees from sharing their ideas and most of the other guys you know successfully running businesses went to Kansas State or Rutgers.
  • My only data point inside this hiring process is from McKinsey about 15-20 years ago, so it may be out of date.    But at that time, the above statement would be BS.  Certainly hiring was heavily tilted to the top Ivies and a few top business schools.  But we had people with undergrad degrees from all over - in fact most of our office in Texas had undergrad degrees from the Texas state schools  (at lot from BYU too -- McKinsey loved the Mormons).  At the time, McKinsey was hiring hundreds of people out of business school around the world each year.  No way this could have come from only a few schools.
  • My hypothesis is that this may be more a regional than an industry bias, limited to Boston/New York/East Coast.  Since many top law firms and consultancies and investment banks are in NYC, they reflect this local bias.  But I would bet these same firms and industries hire differently outside of the East Coast.
  • There is some rationality in this approach - it is not all mindless snobbism.   Take Princeton.  It screens something like 25,000 already exceptional applicants down to just 1500, and then further carefully monitors their performance through intensive contact over a four year period.  This is WAY more work and resources than a private firm could ever apply to the hiring process.  In effect, by limiting their hiring to just a few top schools, they are outsourcing a lot of their performance evaluation work to those schools.

Angola?

I love maps like this one, and a year or two ago I linked an earlier version.  This one is from the Economist via Carpe Diem, and shows the name of the country whose GDP is similar in size to that of the state.

I have to criticize the map-maker, though.  They used Thailand at least four times on this map -- the original version managed to do it without repeats.  But I am amazed that Arizona ranks right there with Thailand.  This is not to diss the rest of the state, which has a lot going for it, but in terms of population and economic activity, a huge percentage in in just one city, Phoenix.

I do have to wonder whether New Mexico being matched up with "Angola" is really very flattering, and pairing Mississippi with Bangladesh is funny on a couple of levels.

Political Correctness Gone Wild

Apparently, the Dire Straits song "Money for Nothing" has been banned from the Canadian airwaves:

The Dire Straits song "Money for Nothing" was ruled by the Canadian Broadcast Standards Council to be "extremely offensive" and thus inappropriate for airing on radio or television because it uses an anti-gay slur.

The decision against St. John's radio station CHOZ-FM in Newfoundland was released Wednesday. In it, the panel ruled that the word "faggot" "contravened the Human Rights Clauses" and its ethics code and is "no longer" permitted "even if entirely or marginally acceptable in earlier days."

This is stupid on its face, and even stupider if the song in question is understood.  If you have never heard the song before, it may seem an odd juxtaposition at first -- why does it alternate between jabs at rock stars on MTV and talk about moving appliances?  Because the song is exactly what it sounds like -- Mark Knopfler overheard some workers in an appliance store watching MTV and heckling the performers they saw for being rich and spoiled and overpaid and not working very hard.

The song is interesting not just because it has a great opening that is fun to play at maximum volume, but because Knopfler is one of those guys on MTV the workers are heckling.  Does he secretly agree with them, is he hurt by them, does he find them funny?   Anyway, the word "faggot" in the piece is essentially aimed at the performers themselves -- they are describing a critique they have received, repeated in all its salty blue-collar flavor.  As such the words feel utterly authentic, perhaps because they are -- Knopfler reportedly grabbed a piece of scratch paper right at the store and started jotting down notes.

I cannot imagine a less offensive use of the word.  There is absolutely no way to read the lyrics of the song and come to the conclusion the word was aimed at gays, or really at anyone else but the author and performer.   I presume by this standard  that Canada expects to ban the entire body of hip hop music?

I could have easily titled this post "the Left and Right converge," because in it I see the Left acting exactly like the religious Right I grew up around in the South that would try to ban any number of books and songs, often out of an incredibly poor understanding of what the story or song was really about.

By the way, the statists among you will be happy to know that this ban only applies to private companies -- the state is still allowed to play the song because, you know, government motives are pure and thereby sanitize any harm that might come from playing this song

Ron Cohen, the CBSC's national chairman, told The Washington Times on Thursday that the decision effectively sets a "nationwide" precedent binding on all private license holders for TV, cable-TV and radio broadcasting. It does not cover the state-run Canadian Broadcasting Corp. or "community and university" stations.

I have seen Knopfler live many times live.  To be fair, Knopfler himself seems to have some sympathy for this position, as I have seen him change the offending word to others in more recent live performances.  I don't know if this is an achnowlegement the word should be changed or he is knuckling under to pressure.    Here is the original video on YouTube.  Here is a live version where faggot is replaced.  Extra bonus cameo - Clapton in a pink suit.
Postscript: It is a fairly commonly-known bit of trivia that the first song played on MTV was "Video Killed the Radio Star."  But this was new to me:

When MTV Europe began airing in 1987, "Money for Nothing," which begins with Sting's opening falsetto whisper "I want my MTV," was the first video played.

Bleg

Anyone use Paycom for payroll?  Considering switching there from ADP, both for cost and what I think is a better IT platform.

Notice to Companies

Calling me with a robo-caller, and then putting me on hold for any amount of time other than about 2 seconds, is not going to reach me.  Today I actually was not busy and waited 30 seconds through such a hold before I hung up, and that is a record.  I know that you are concerned about the productivity of your workers, but I am concerned with mine as well.

Idea for a Novel

I was doing something today that I generally avoid, which is thinking about Sarah Palin.  How bizarre would it be to wake up one morning and find that some random maniac you had never met in a city you might never have visited had gone on a killing spree and prominent people were all over the media blaming you for the killing. Not your political party, not all those who shared your views, not all those from a similar group, but you personally. Blood on your hands.   How weird would that be  (and how pissed off would I be -- I can say that I would have lashed out publicly early and hard and often, much harder than Palin's video, though no one ever has called me "presidential" in temperament).

Seems like there should be a novel in there somewhere.  Yeah, I know the falsely accused thing is done all the time (e.g. the Prisoner) but I can't shake the feeling there is an interesting concept here.

A New Scientific Low

I am really just amazed by these remarks by NCAR's Dr. Ken Trenberth to be given, apparently planned for the American Meteorological Society gathering this month.   The and Anthony Watt has reprinted it on his blog.

It is hard to know where to start, but the following excerpt is an outstanding example of climate science process where 1.  Conclusions are assumed; 2.  Conclusions are deemed unequivocal by reference to authority; 3. Debate rules are proposed wherin it is impossible to refute the conclusion; 4.  All weather events that make the news are assumed to be caused or made worse by man-made warming, and thereby, in circular fashion, further prove the theory.

Normally, when I cite the above as the process, I get grief from folks who say I am mis-interpreting things, as usually I am boiling a complex argument down to this summary.   The great thing about alarmist Trenberth's piece is that no interpretation is necessary.   He outlines this process right in a single paragraph.  I will label the four steps above

Given that global warming is “unequivocal” [1], to quote the 2007 IPCC report [2], the null hypothesis should now be reversed, thereby placing the burden of proof on showing that there is no human influence [3]. Such a null hypothesis is trickier because one has to hypothesize something specific, such as “precipitation has increased by 5%” and then prove that it hasn’t. Because of large natural variability, the first approach results in an outcome suggesting that it is appropriate to conclude that there is no increase in precipitation by human influences, although the correct interpretation is that there is simply not enough evidence (not a long enough time series). However, the second approach also concludes that one cannot say there is not a 5% increase in precipitation. Given that global warming is happening and is pervasive, the first approach should no longer be used. As a whole the community is making too many type II errors [4].

Are you kidding me -- if already every damn event in the tails of the normal distribution is taken by the core climate community as a proof of their hypothesis, how is there even room for type II errors?  Next up -- "Our beautiful, seasonal weather -- proof of global warming?"

Remember that the IPCC's conclusion of human-caused warming was based mainly on computer modelling.  The IPCC defenders will not admit this immediately, but press them hard enough on side arguments and it comes down to the models.

The summary of their argument is this:  for the period after 1950, they claim their computer models cannot explain warming patterns without including a large effect from anthropogenic CO2.  Since almost all the warming in the latter half of the century really occurred between 1978 and 1998, the IPCC core argument boils down to "we are unable to attribute the global temperature increase in these 20 years to natural factors, so it must have been caused by man-made CO2."  See my video here for a deeper discussion.

This seems to be a fairly thin reed.  After all, it may just be that after only a decade or two of serious study, we still do not understand climate variability very well, natural or not.  It is a particularly odd conclusion when one discovers that the models ignore a number of factors (like the PDO, ENSO, etc) that affect temperatures on a decadal scale.

We therefore have a hypothesis that is not based on observational data, and where those who hold the hypothesis claim that observational data should no longer be used to test their hypothesis.    He is hilarious when he says that reversing the null hypothesis would make it trickier for his critics.  It would make it freaking impossible, as he very well knows.  This is an unbelievingly disingenuous suggestion.  There are invisible aliens in my closet Dr. Trenberth -- prove me wrong.  It is always hard to prove a negative, and impossible in the complex climate system.  There are simply too many variables in flux to nail down cause and effect in any kind of definitive way, at least at our level of understanding  (we have studied economics much longer and we still have wild disagreements about cause and effect in macroeconomics).

He continues:

So we frequently hear that “while this event is consistent with what we expect from climate change, no single event can be attributed to human induced global warming”. Such murky statements should be abolished. On the contrary, the odds have changed to make certain kinds of events more likely. For precipitation, the pervasive increase in water vapor changes precipitation events with no doubt whatsoever. Yes, all events! Even if temperatures or sea surface temperatures are below normal, they are still higher than they would have been, and so too is the atmospheric water vapor amount and thus the moisture available for storms. Granted, the climate deals with averages. However, those averages are made up of specific events of all shapes and sizes now operating in a different environment. It is not a well posed question to ask “Is it caused by global warming?” Or “Is it caused by natural variability?” Because it is always both.

At some level, this is useless.   The climate system is horrendously complex.  I am sure everything affects everything.  So to say that it affects the probability is a true but unhelpful statement.   The concern is that warming will affect the rate of these events, or the severity of these events, in a substantial and noticeable way.

It is worth considering whether the odds of the particular event have changed sufficiently that one can make the alternative statement “It is unlikely that this event would have occurred without global warming.” For instance, this probably applies to the extremes that occurred in the summer of 2010: the floods in Pakistan, India, and China and the drought, heat waves and wild fires in Russia.

Now he has gone totally off the scientific reservation into astrology or the occult or something.   He is saying that there is a high probability that if CO2 levels were 120ppm lower that, for example, the floods in Pakistan would not have occurred.  This is pure conjecture, absolutely without facts, and probably bad conjecture at that.  After all, similar events of similar magnitude have occurred through all of recorded history in exactly these locations.

Some Notes

1.  For those unfamiliar with the issues, few skeptics deny that man's CO2 has no effect on warming, but believe the effect is being enormously exaggerated.  There is a bait and switch here, where the alarmist claims that "man is causing some warming" is the key conclusion, and once accepted, they can head off and start controlling the world's economy (and population, as seems to be desired by Trenberth).   But the fact that CO2 causes some greenhouse warming is a trivial conclusion.  The hard part is, in the complex climate system, how much does it cause.  There is a an argument to be made, as I have, that this warming is less than 1C over the next century.  This number actually has observational data on its side, as actual warming over the last century, given past CO2 increases, is much more consistent with my lower number than various alarmist forecasts of doom.  Again, this is discussed in much more depth here.

2.  One interesting fact is that alarmists have to deal with the lack of warming or increase in ocean heat content over the last 12 years or so.  They will argue that this is just a temporary aberration, and a much shorter time frame than they are working on.  But in effect, the core IPCC conclusions were really based on the warming over the 20 years from 1978-1998.  So while 12 years is admittedly short compared to many natural cycles in climate, and might be considered a dangerously short period to draw conclusions from, it is fairly large compared to the 20 year period that drove the IPCC conclusions.

Update: More thoughts from the Reference Frame.

Stock Market Returns

This chart in the NY Times is pretty interesting, though I could quibble about the color coding.  You have to stare at it a minute to get it - each cell represents a combination of stock purchase and sales dates, with the color representing the average market inflation-adjusted return for that buy and hold period (click to enlarge, or click through to the source link where it is explained in more depth).

Whenever one uses red and green for coloring a chart, the reader is going to assume red is bad and green is good.  In this case, the light red represents returns from 0 to 3% above inflation.  Is that bad?  Maybe.  I would say inflation plus 3% is probably lower than people's expectation of stock market returns, but I think a lot of folks would equate red with capital erosion, which is not the case if returns are out-pacing inflation.

This is sort of a good-news-bad-news story.  The good news is that there is no 25-year period where returns fall below inflation.  The bad news is that the median return of inflation plus 4% is probably less than most folks are planning for -- including a lot of state pension funds that are still counting on returns like 8% for their entire portfolio (something like inflation + 5-6%), which is a blend of stocks and bonds, implying they are hoping for an equity return north of that.

HT:  Flowing Data