JoNova

A science presenter, writer, speaker & former TV host; author of The Skeptic's Handbook (over 200,000 copies distributed & available in 15 languages).


Handbooks


Advertising


Australian Speakers Agency



GoldNerds

The nerds have the numbers on precious metals investments on the ASX



The Skeptics Handbook

Think it has been debunked? See here.

The Skeptics Handbook II

Climate Money Paper



Archives

A speech so good he was sacked: HSBC head says investors don’t need to worry about “Climate Risk”

Hopefully Elon Musk will give him a job.

Stuart Kirk, head of “responsible investing” for HSBC let rip at the doommongers of finance with a speech called “Why investors need not worry about climate risk”. He was speaking at A Moral Money Europe Summit, held by the Financial Times and is clearly fed up with listening to hyperbole and being told to analyze and worry about trivial long term future events. “Last night Target fell 25% — twentyfive!” … but I’m being told to worry about something coming 20 – 30 years down the track.”  Other speakers were unceremoniously dispatched. He complained climate risk has become so hyperbolic no one knows how to outdo it.  “Sharon [a speaker from Deloittes] said “we’re not going to survive!” But no one even looked up and ran from the room.”

Dangerously (for him) he also explained how the central banker models bury massive GDP and interest rate shocks in their economic forecasts of climate risk, otherwise they can’t generate bad news and headlines. Apparently, it’s all in the fine print that nobody mentions. They’re sounding more and more like climate models all the time.

That was last week. This week he’s been suspended.

h/t Greg M and Rafe Champion, Another Ian.

Climate Risk and Wall St Meet Cancel Culture

Steven Hayward, Powerline

Stuart Kirk, head of “responsible investing” for HSBC, gave a presentation at a Financial Times “Live Moral Money Summit Europe” a few days ago in which he shredded the climatista claim about financial climate risk.

Needless to say, you can’t say this! And so the predictable has happened:

HSBC has suspended a senior banker after he referred to climate crisis warnings as “unsubstantiated” and “shrill” during a conference speech that has since been denounced by the lender’s chief executive.

Kirk’s presentation controversially included slides that said “Unsubstantiated, shrill, partisan, self-serving, apocalyptic warnings are ALWAYS wrong”, while referring to comments made by officials at the UN and Bank of England, who have tried to raise the alarm over global heating.

“Human beings have been fantastic at adapting to change, adapting to climate emergencies, and we will continue to do so,” Kirk told attenders at the Financial Times’ Moral Money conference on Thursday. “Who cares if Miami is six metres underwater in 100 years? Amsterdam has been six metres underwater for ages and that’s a really nice place.”

Stuart Kirk, who has been HSBC’s head of responsible investing since last July, will remain suspended until the bank completes an internal investigation into the matter.

He will remain suspended until other economists get the message about what they are not allowed to say.

Well worth watching: This is a man who believes the science is right but nothing about the economics or market response makes sense. Luckily he doesn’t talk about science, just the things he knows. Amazing how much damage one man can do in a mere 16 minutes.

The odd quandry — the markets are completely ignoring climate risk

Strange things happen: the more people say the world is going to end, the higher risk asset prices go. Kirk counted the time the news media mentioned the “climate catastrophe” and noticed that the “worse” it was, the higher the MSCI index rose. (The MSCI is the market cap weighted stock market index of 1,546 companies around the world.)

“The Sharons and Mark Carneys need to explain why the prices keep rising.”

 

MSCI Graph, climate warnings mean high MSCI Values.

The more the news was “catastrophic” the more investors invested in the MSCI.

 

Jo Nova, however,  thinks it’s no coincidence. Inflating the money supply pumps our stocks at the same time as our fantasy ideologies.

Fiat currency bubbles inflate assets as well as dumb ideas. We couldn’t afford to be this stupid in times of austerity.

The fine print of the Central Banker Models of Doom

Stuart Kirk also unpacked the central bankers climate risk stress test models and found surprises in the fine print which I don’t recall hearing about before. (He wishes they would pay less attention to climate risk, and more attention to inflation and growth instead.)

Climate change itself isn’t going to be a problem, he says, the only potential risk is from a major policy shock. So the models forecast a whopping change like a $200 carbon tax, out of the blue, …put that in the model, “Wham” — but even that wasn’t enough. …

He begs people to take the Bank of England and Dutch forecasts and “go right to the back and get into the fine print”. They will put in a whopping great policy shock in to their models, but then you look at the sensitivities of what they have done.  To make things look really bad the first thing they do, it seems, is trash GDP growth with huge unrealistic negatives ….minus one, minus three, minus two, changes so big they have never happened in our lifetimes… But that’s not the end of it. To make things look worse in these economic forecasts they have to put in a huge interest rate shock as well. And they never talk about it. It’s very easy to make a bank look sick, he says, if you destroy their fixed income base.

“Even with a carbon tax, even hitting growth, they couldn’t make climate risk move the needle so they had to get their clever little wonks in the back room, and put a gigantic interest rate shock through their models, in order to make headlines. That is not reported very much either. “

Despite this, humans, he says, are spectacularly good at managing change, which is true. That (below) is the long run change of the S&P 500. It’s the last hundred years of world wars, depressions, global financial crisis’, and pandemics — but nothing really changes the trends of the S&P 500 he argues, and climate change won’t either.

Climate Risk, graph, long term S&P graph.

A century of S&P growth continues…

He seems quite optimistic about climate change, though after being suspended, he may not be so optimistic about our financial management, freedom of speech or that problems with central bankers will be fixed in our lifetimes.

We wish him the best of luck. Welcome to the dark side Stuart Kirk.

9.8 out of 10 based on 80 ratings

90 comments to A speech so good he was sacked: HSBC head says investors don’t need to worry about “Climate Risk”

  • #
    Jojodogfacedboy

    Ya, why does my money purchasing power keeps getting blown to smithereens constantly…
    It keeps getting worse with government intervention and new taxation.

    401

    • #
      Robert Christopher

      A very informative presentation.

      I wonder whether others think the same but haven’t had the opportunity to express it.

      ESG is very important, I mean, who would want no compliance criteria at all, but in order to have sensible decisions we need people who have sufficient knowledge and experience in Physics, Chemistry, Geology and related disciplines, as well as Business, Planning and some common sense.

      And in the Biosciences, I am sure there are similar prerequisites. 🙂

      310

      • #
        Mantaray Yunupingu

        Robert Christopher. Who hasn’t known for yonks that the entire scam is nothing but a get-rich scheme for them near the cash-drawers?

        OK.Oone more time….

        The CSIRO is the biggest, best funded single-focused ACC alarmist outfit in Oz, and the CSIRO is constantly telling us how Oz is gonna fry, and the corals will be bleached and the snow will stop falling and and and…..

        I won’t name names but I know two retired CSIRO “scientists” now living directly on the oceanfront here in Nth Qld, where not only will their million dollar properties soon be inundated by the rising seas, but also flattened by more intense and frequent cyclones (none at all since early 2017, but they are coming)….while the scientists themselves (+ families) are sure to all die from tropical diseases…..

        However, the most surprising development on the CSIRO front, is how well the
        CSIRO SKI-CLUB (yes, you read this correctly: Ski-ing doomed due to lack of snow…but a booming Ski-Club for the very worried scientists, regardless)…..

        Membership sold out and everything booked solid for winter. Two lodges instead of the original ONE, since ski-ing and ski demand are booming at the CSIRO ski-club..In the Annual Report “The company expects to maintain the present status and level of operations, and there are no likely (detrimental) developments in the operations in future years.

        Now, some might wonder how the impending lack of snow due to Climate Change is not a “likely detrimental development” for a ski-club, but such is how the CSIRO sees it when legally obliged to tell the truth.

        Why wait for some fancy-shmancy risk manager to tell you how HE sees it? The CSIRO scientists have already been telling THEMSELVES (at their Club AGM) the same for decades. With no objections whatsoever!

        482

        • #
          Robert Christopher

          Are you proposing that Mining, the Oil & Gas industry, Manufacturing and Transportation company regulations are a scam and should be abolished?

          Because that is what ESG (Environmental, Social and Governance) Regulations address, amoungst other things.

          The problem is that acceptable levels in many areas have been driven to the point of absurdity, often by people who know little about the Science, Engineering and Business aspects, or those with a destructive agenda.

          00

      • #
        Rupert Ashford

        ESG can only be NB if you apply it on the manufacturing side i.e. at the origin of the supply chain. It’s no use the slog the retailers who sell stuff in their local countries. Until that is not done, ESG is a fraudulent political cock-up.

        40

  • #

    The cancel culture was first applied as a weapon around the issue of climate science. It worked so well to poison minds against the truth, it was embraced by the political left and its media comrades to support any political goal that’s otherwise unsupportable. In this case, they’re doubling down on the unsupportable science by attempting to hide the financial insanity of the proposed solutions. This may be too easy for people to see even if they don’t have a clue about how broken the supporting ‘science’ is, and we can only hope it doesn’t work as intended.

    350

    • #
      Richard C (NZ)

      >”In this case, they’re doubling down on the unsupportable science by attempting to hide the financial insanity of the proposed solutions”

      “Don’t underestimate the power of stupid in large groups” – George Carlin

      240

  • #
    Robert Christopher

    My only quibble is that Y2K passed off with few problems because of the vast effort to ensure that would be the case. I did hear of two glaring examples that were caught in time.

    Few IT companies needed prompting, though was there a forgotten critical server, with an old OS, hiding away. And if there were some, replacing the hardware and software with a fully supported system might be the best option, and that would require time, plenty of time, that might not be available.

    I knew of a school (though it could easily have happened in a small office) that didn’t have anyone in charge of IT as they added pcs, one by one, so it needed to recruit someone knowledge enough to do the work.

    Also, pumps and lifts, that have dates to ensure regular maintenance, needed to be found and updated if required. Sewerage pumps being an extra special emergency when they go wrong! 🙂

    100

    • #
      Russell

      “Few IT companies needed prompting…”
      Yes IT people could see the risks but not clever enough to get it thru to their exec to obtain funds for necessary checks.
      So the big consulting firms bullied their CEOs with “personal responsibility” to get commitment of the funds.
      It was all a marketing exercise to get consulting firms through your door. Many senior managers fought and died in this forgotten war.
      Totally OTT but very useful to the consulting bottom lines and a significant drain on productive businesses that other lost opportunities.
      Unfortunately the Y2K scare tactics set a dangerous precedent for bullying business managers to press a single issue.

      Climate Change risk is V2 of this practice and Green lobby groups have lots of “consulting” they can offer any businesses.
      Sadly, CEO and senior manager sacrifices will continue.

      HSBC (the Airbridge advertiser king) have lost a courageous (if naive) business-minded human asset.
      Hope he left some ticking insurance and they end up in the toilet as a result.

      70

      • #
        Robert Christopher

        In many small (and perhaps, even in larger non-IT producing) companies, IT had no presence in the board room so, as you say, getting a budget for Y2K was almost impossible. Why worry about something to which you are oblivious, even though it would destroy the company?

        But in most companies heavily involved in IT, like software houses, there would have been an IT presence in the boardroom, as IT would be a major component of their delivery. In the banking and finance sector, for example, they might not be selling software, but most, if not all, getting their computer generated documentation produced in a timely manner was important.

        As to employing consultants, it would be up to each company to address their own issues themselves.

        It was the government’s responsibility to ensure that everyone knew the problem existed and that sufficient time was made available before the immovable target date. Those late to the game found that the best consultants were busy!

        00

    • #
      dadgervais

      Y2K was a media fueled hysteria, exploited by IT companies for profit. I spent half of my last two years (’98 & ’99) as a software engineer traveling to customer sites to “certify” systems that my company had produced over the previous decade. I told my bosses and the customers that it would be cheaper to wait till 1 January 2000, then patch the few machines (if any) that had a problem. But, that wouldn’t make the company much money, so I went; I tested; I signed “certifications” and I never found a system with a problem.

      I didn’t fall for the hype since I had already gone through a trial run in January 1980. Working at a Government Agency (military assignment) I realized that a data base with a very large number of applications written against it used one-digit dates (base 1970) designed when punch-card records (80 character limit per card) were still common. I made the same “don’t worry till it happens” recommendation since the code would just roll over onto the next ascii character and most applications wouldn’t be any the wiser. Only one app had a minor problem which I patched in about 30 minutes. So, no drama!

      The MSM hype about possible planes falling out of the sky, electric grid failure, and a world financial system crash was just so much ignorant fear porn.

      40

  • #
    PeterS

    I’m sure a lot of high profile people think the same about the man-made climate change hyperbole but they don’t want to speak out. They are part of the scam to make more money and/or keep their high paying jobs and so they stay silent. Then their are those who simply are clueless and have fallen for the lies. They all will get a shock though when the masses turn on them once they feel the pain of much higher living costs and harsher draconian governments while at the same time the grid becomes unstable as the West keeps moving towards renewables. China, India, Russia and others must think we have lost our minds.

    80

    • #
      Robert Christopher

      Y2K testing was to ensure that the upgrade changed nothing, with no non-Y2K bug fixes included. That meant having a separate Y2K test team.

      This was to ensure that, if those fixes had to be removed by returning to the previous version, the resulting software would still be Y2K compliant.

      It could be that the application was up-to-date, Y2K compliant, even, but it was running on a noncompliant OS. Not only would the OS need updating, but the application needed to be checked out on the new OS, and any other packages used, like DBs, communications, analysis, etc. Would the programming skills be available to do this? And would the vendor supply the updated OS, and would it run on the existing hardware? Or would it be easier to start again with a new setup?

      Lastly, a billing company that only produced bills on the 5th of the month, required several months to get enough test runs in before release. (No, I can’t believe it either!) They had to update their program so they could run bills any day of the month to ensure sufficient testing was done before that dreaded target date!

      10

  • #
    b.nice

    The Climate Borg is relentless !

    200

  • #
    David Maddison

    Conservatives keep giving the Left the “benefit of the doubt” when it comes to rising energy and other prices. They think it is due to the ignorance and incompetence of the Left. But that only applies to the slave army, that is, the people like those who hand out election literature warning about “climate emergency” but don’t even know the approximate composition of the atmosphere or CO2 concentration.

    The leaders of the Left, the “commanders” who tell your typical Leftist what to do and think, know exactly what they are doing. They want to globally reduce the standard of living (see what they are doing in America, Europe and watch what they are about to do here). This is obviously an objective because they keep saying things like our present life style is “unsustainable” and sadly many people believe it.

    A carbon tax of course, is part of that socialist utopia. There is a direct correlation between energy consumption and standard of living e.g. see graph https://pin.it/2Otrud2. With the move by the Left to unreliables, there will definitely be less available and more expensive energy, when it is available at all.

    There is also a war against private ownership. An example, as per Herr Schwab, who now has trained “leaders” in politics in most Western countries, including Australia, says in the future “you will own nothing and be happy”. And eat much less meat – but insect protein will be plentful*.

    Everything and everyone in the Leftist Utopia will be traced and tracked. COVID tracking was a good trial.

    And look at the war against using cash, have you noticed the closure of numerous ATMs lately because cash is going out of use?

    *The Elites are trying to restrict traditional farming, a recent example being the banning of fertilizer in Sri Lanka. And the UN/FAO is pushing insect consumption. https://www.fao.org/edible-insects/en/

    272

  • #
    Penguinite

    Personally, I sniff a whiff of population control is afoot!

    290

  • #
    Neville

    So why do we need population control when all the religious extremists are telling us that we Humans are facing an EXISTENTIAL threat?
    In the REAL world the GLOBAL population has boomed over the last 100 years and surprisingly we’re much healthier and wealthier too.
    BTW next year we’ll have passed 8 billion Humans on the planet and yet were told we’re living in the end times.
    OH and we’ve just elected very dumb TEALS and more Malthusian Greens to our parliament after their electorates also caught the fantasy bug and desperately slurped the KOOL aid.

    240

    • #
      TedM

      Neville, please define religious extremist.

      30

    • #
      Tel

      It’s the weirdest type of circular logic:

      * Climate change is dangerous;

      * Climate change might cause people to die in future;

      * Too many people alive now are causing climate change;

      * There fore we must reduce population in order to prevent population reduction.

      The more we kill, the more we save!!!

      The nonsense should be obvious, but people do get sucked into this kind of thinking … I generally conclude that what really happens here is most of them have other reasons for doing what they do, but use the superficial nonsense as a smoke screen. It’s kind of like a sales pitch, where the guy tries to keep talking as fast as possible to avoid the problem when the mark thinks it through.

      10

  • #
    el+gordo

    “Unsubstantiated, shrill, partisan, self-serving, apocalyptic warnings are ALWAYS wrong”,

    Totally agree and his dire warning is real, but I think we can stop the madness before that happens.

    101

  • #
    Neville

    Don’t forget that the so called leader of the FREE world definitely BELIEVES we’re now living in the END times and hear his clear message.
    BUT he’s now also raiding fossil fuel reserves to try and save his sorry backside in the mid terms in November.
    Does any of this make any sense to anyone? Here’s his EXISTENTIAL threat video. Also note we should FEEL his EXISTENTIAL threat in our bones, whatever that means.

    https://www.youtube.com/watch?v=0wXe-GanTh0

    160

    • #
      b.nice

      “Also note we should FEEL his EXISTENTIAL threat in our bones.”

      Poor old codger, yes, he can almost certainly feel his dementia growing.. Everyone else can see it.

      80

  • #
    Erasmus

    The good news is that when Liddell and others close earlier than previously planned and blackouts commence, it will be the Labor government who will be attacked mercilessly by the media … oh, wait a minute. I’m dreamin agin!

    230

    • #
      James Murphy

      I was wondering what sort of excuses and “fact checking to fight disinformation” will be trotted out when some part of the electricity grid inevitably fails.

      First, electricity prices were high because companies were “gold plating” the grid
      Now, it’s coal and gas that is branded “unreliable”, and electricity is getting cheaper and cheaper… despite the actual numbers on the bills.

      What will it be next, I wonder?

      150

      • #
        Ross

        The Labor state government already did that in Victoria a few years ago when we experienced “controlled outages” during a very late summer heatwave. Those 2 excuses you mentioned. The other excuse the Labor government used was that these outages were the price we all had to pay for climate change. A brave journalist asked why more dams hadn’t been planned to be built to provide hydro power. The answer came back from the Labor Energy Minister (Lily D’Ambrosio) that dams would not fill in the future because it wasn’t going to rain. Since then we have had a succession of wet winters/springs which could have filled many more dams ( if they had been built).

        60

    • #
      David Maddison

      The Left and media won’t blame it on the close of proper power stations.

      Their response will be “we urgently need more windmills, solar panels and Big Batteries”.

      Frankly, I am looking forward to watch the Left attempt to achieve the economically impossible goal of running an advanced society on unreliables. It will be fun, in a sick sort of way.

      There is a very good reason sources of intermittent energy like wind, animal and human power were dumped as soon as reliable steam engines were developed.

      150

      • #
        Brian the Engineer

        Pity parliament wasn’t hung. The greens/teals would have destroyed the grid and the ensuing kaos would be a saltatory lesson to the voters.

        80

        • #
          Ross

          Yes, when you make a mistake you want that to be quick or big (or both). That way you remember it, the pain is still present and you avoid that decision the next time. What we are going to get with the electricity grid is a boiling frog effect. Death by a thousand cuts which wont be noticed by the general public until its too late.

          70

      • #
        Russell

        Forget about following the science – the saying should be “follow the engineering”.
        And that works for both electrical engineering AND social engineering.

        40

        • #
          b.nice

          No way am I the least bit interested in following any “social engineering”… that is where most of the world’s stupidity is currently embedded.

          40

        • #
          Len

          You must remember that the Australian Institute of Engineers has be captured by the Left for a while

          20

  • #
    • #
      Dennis

      It was amusing hearing former Labor Cabinet Minister Graham Richardson on Sky News comment that the appearance of the Labor candidate, a tall white blonde woman wearing a $3,000 dress campaigning for election in Fowler would not have been the best image for local voters.

      60

  • #
  • #
    RickWill

    In the previous thread RossP noted that there is a CPAC 2022 being held in Hungary this year. He provided this link to the Hungarian’s PM address:
    https://www.miniszterelnok.hu/speech-by-prime-minister-viktor-orban-at-the-opening-of-cpac-hungary/

    The PM gives 12 points for defeating socialists that are worth reading.

    Orban is viewed as a global threat to socialists. This gives you an idea of the level of concern with regard to taking control of media:
    https://www.mediamatters.org/tucker-carlson/fox-news-host-tucker-carlson-has-dangerous-friend-hungarys-viktor-orban

    This is Trump endorsement of CPAC Hungary:
    https://www.youtube.com/watch?v=GAOPemOUuKE

    110

  • #
    Ross

    I try really hard not to be a conspiracy theorist. But it gets harder everyday when you read stories like this. I now even wonder about all the previous financial crises, wars, elections that I have experienced in my life. Back then my news and information all came form the mainstream media. Were a lot of these events just really cons or scams promulgated by biased reporting? I now have a healthy dose of skepticism for every news story the I consume. Kirk is just telling the truth and is being punished because he did that too forcefully. Someone else wrote mean tweets and was similarly punished. This story is getting some traction on social media, but I suspect it will get zero coverage in the MSM. You can bet Kochy wont be talking about it on Sunrise on Channel 7 for instance. Because apparently Australia wakes up to Sunrise on 7- or is that the Channel 9 promo?

    170

    • #
      OldOzzie

      This sums up Australia as well

      If Only We Were More Reasonable

      With the best will in the world there are times when one wonders about the sanity of many people. This is one of them.

      We have just handed over control of our country, in dangerous and uncharted times, to a fractious horde of mathematical illiterates with no idea how to run an economy, lockdown-loving [email protected] scheming to control our lives by any means possible and now with all the apparatus in place, mad Greens with apocalyptic visions of planetary doom, obscurantist “teachers” who have turned the wide horizons of education into a crucible of noxious mendacity and sexual fantasists wanting to manipulate the self-understanding of children, all lumped in with an assortment of monomaniacs squeaking out their solipsistic obsessions in, to borrow a phrase from Browning, fifty different sharps and flats.

      Or take climate change. Can we not establish the fact of this and agree what to do about it rationally? Is the climate warming or not? – it shouldn’t be a labour of Hercules to have a definite answer to that. Facts should not be a matter of opinion or prejudice. If the planet is dangerously warming, then can we not agree that various measures which to “climate sceptics” now seem excessive and unnecessary ought logically to be taken? If it is not, why can’t we apply all that worry to something that is objectively important, such as how to prevent the kind of aggression now laying waste to the Ukraine, and that everyone seems to have forgotten about, or relieve the invisible poverty that lurks behind many a front door in our outwardly prosperous society?

      Or the unbridgeable divide over COVID and mandatory vaccination.

      Calm, cool reason could save us oceans of anguish, rancour, nervous collapse, broken friendships. We should try it more often. Or am I being naïve, like Pollyanna? Is it that, in our imperfect humanity, perpetual outrage, the adrenalin rush of being always in a state about something, has become necessary to many people as a diversion from the contented boredom of life in a too comfortable, too privileged society?

      Meanwhile in Australia

      Victorian Greens Celeste Liddle is a real charmer

      Have a Read – https://twitter.com/Utopiana

      120

      • #
        Forrest Gardener

        Am I permitted an ironic smile at the use of the term “mathematical illiterates”?

        That’s why it does not pay to be too pedantic.

        40

  • #
    b.nice

    Telling the truth has its consequences.

    60

  • #
    Zane

    For the Federal election the rabid greenie household at the bottom of my street had their party’s campaign slogan poster displayed on the front side fence proclaiming ” Fight For Your Future! ” Another poster displaying a mugshot of the local greens candidate, a twentyish female, loomed opposite.

    Fight for your future. What does that even mean? Do we need to start watching Mike Tyson videos, or will reruns of Arnie and Stallone do. Will machetes be involved? Or do we need to commandeer a whole tank battalion?

    (this is in coastal Victoria).

    110

  • #
    Kalm Keith

    The insurance companies love the “threat” of climate change because they can increase their premiums and make heaps extra.

    They’re undoubtedly aware that there’s nothing extra to fund beyond the current typhoons, fires and floods that they are very well prepared for.

    140

  • #
    DLK

    so the liberals missed a perfect opportunity to run a scare campaign against an ALP-Green’s carbon tax leading cost of living pressures and so on.

    they didn’t (not that i saw).

    presumably because they support it (and – in what is, essentially, a two party dictatorship – when both parties support it, it is policy, irrespective of the wishes of the voters).

    90

    • #
      Brian the Engineer

      Libs only won the previous election because Shorten is so unlikable. There was no tactics or policy involved.
      It’s a Parents and Citizens group not a political machine like the left.

      61

      • #
        Chad

        Brian the Engineer
        May 24, 2022 at 10:05 am · Reply
        Libs only won the previous election because Shorten is so unlikable. There was no tactics or policy involved.
        It’s a Parents and Citizens group not a political machine like the left.

        You hit the nail right there Brian..
        “A political machine like the left”
        I would rather we had effective Economic Leadership, …..rather than a “Political Machine”

        32

  • #
    Furiously+Curious

    I was mulling over the words disinformation and misinformation, and they seem very unrooted, shallow, jangly, digital words, and the word falsehood popped up. I’m guessing that came from way back, when there were people pretending to be monks? It seems to be pretty apt at the moment, when we have a whole medical profession pretending to be doctors, and a whole science establishment pretending to be scientists.

    121

  • #
    Kim

    meet natural selection … go warmie … go woke … go broke

    60

    • #
      Forrest Gardener

      Yes, the law of natural consequences is like a law of physics.

      You cannot break the law of natural consequences and you will only break yourself if you try.

      20

  • #
    Annie

    We’d put our money back into HSBC if they followed his advice!

    50

  • #
    Furiously+Curious

    Jim Steele has been putting out seemingly balanced, informative, topical you tubes, mostly over the last few months. He’s highly credentialed, and the videos are very well produced. I just don’t know why he has less than 1000 followers. I haven’t seen clearer more concise explanations. Take a look, he’s right on topic, except he’s coming from science.

    https://www.youtube.com/channel/UC7XNHEz2QCJ_Phf2mvDFk0Q/featured

    40

    • #
      John Hultquist

      “I just don’t know why …”

      I’ve read his posts on WUWT but did not know about these videos. I think that explains it.

      Thanks for the tip.

      20

  • #
    RossP

    Slightly OT but this is what an Aussie bureaucrat is telling WEF about free speech.

    https://t.me/covaxnz/13664

    or the original Twitter link

    https://twitter.com/backtolife_2022/status/1528812051388407808

    40

  • #

    Climate data clearly shows that temperature correlates with rate of generation of CO2. When there is a local temperature maximum there is a local maximum in the rate of generation of CO2. Mathematically, logically, the local maximum in CO2 must come after the maximum in rate of change, hence it comes after the local maximum in temperature. Thus it is impossible for the later CO2 maximum to cause the earlier temperature maximum. An event cannot be caused by another event that has not even happened.
    CO2 does not, has not, caused global warming. That is a LIE.

    51

    • #
      Forrest Gardener

      Pretty close Bevan, but you are talking about natural generation of CO2. There is also a man made component.

      The fact alarmists miss is one of proportionality. The man made component is miniscule when compared to the natural generation. And so the alarmists see a correlation but fail to see the absence of causality.

      40

      • #

        Forrest Gardener,
        the source of the CO2 is not relevant. For an average Earth surface temperature of 15 deg.C, 99.8% of the outgoing radiation absorbed by CO2 is in the 15 micron band. This band is the peak of the emitted radiation from a surface at -79.5 deg.C so energy in this band is definitely not going to warm the Earth’s surface.
        Furthermore, back radiation from any atmospheric source must always be less than half of the intensity emitted from the Earth’s surface, the major part being emitted into space. Consequently the out-going radiation pressure at the Earth’s surface will always be at least twice that of the incoming back-radiation so the later will never reach the surface to cause warming of that surface. Only radiation from a source that is hotter than the Earth, eg the Sun, can increase the surface temperature.
        Interestingly, the period of rotation of the Moon around the Earth is reflected in the change in atmospheric CO2 concentration due to the temperature variation of the Earth’s surface being at a low for a New Moon, ie the Moon passing between the Sun and the Earth, and a local peak for a Full Moon, ie the Moon on the far side of the Earth from the Sun giving the Earth the full effect of the Sun’s radiation.

        10

        • #
          Forrest Gardener

          All well and good Bevan but the task of proving that CO2 has no effect on atmospheric temperatures is a much bigger task than proving that man made CO2 has an insignificant effect on atmospheric temperatures.

          00

    • #
      RossP

      You are absolutely right Bevan (taking into account the small caveat from Forrest).

      The simple school boy experiment shows it —take two bottles of coke (or beer!). Put one in the fridge for the day and the other on the bench or in the sun for greater effect. At the end of the day take both bottles and open them. We all know what will happen –the warm one will bubble out of the bottle. Given the majority of the CO2 is held by the oceans, a warming of the oceans will lead to an increase in atmospheric CO2 (ie the increase follows temperature increase). Obviously the reverse will occur when the sea temperature drops –C02 will be absorbed.

      30

  • #
    Dennis

    If the answer to climate change and warming is renewable energy replacing fossil fuelled power stations why doesn’t China and India, and other still constructing power stations around the world, concentrate on wind, solar and hydro instead?

    20

  • #
    John Connor II

    The banks all know the fake climate change is all BS.
    After all, can you see ANY bank lending for seaside development of any kind if it was demonstrably true?
    All those properties to be underwater or sea eroded in 10 years.That would be gross incompetence and negligence.

    60

    • #
      b.nice

      The climate glitterati don’t believe in the AGW scam either.

      Case to point.. Di Capri’s island retreat

      50

      • #
        Chad

        Have you ever been in the car park for the Sydney Opera House ?
        ..its on the shore line and extends 28m below sea level..
        ..and still dry after 30+ years !
        But maybe Di Caprio has some of those “Thunderbirds are Go” type tricks to elevate his property should the tide rise ?!!
        Ah, no sorry,..obviously not, …it would be cheaper, and no sweat for him to just walk away and forget it, if the tide ever moved. !
        Same for all these cashed up alarmists,… its only pocket money to them.

        50

    • #
      Dennis

      And despite that the coal industry in Australia has been forced to seek Federal Government assistance, not funding, to establish an industry insurance company because the multi-national bankers and insurers are refusing to insure coal industry businesses and activities.

      Another example of International pressures, and politics, Australia is facing as the climate hoax leftists march towards victory over all os us.

      30

      • #
        Ted1

        The coal industry should be big enough to carry its own insurance.

        There should be a big cost saving in doing so. It wouldn’t be insuring stuff that can’t be insured anyway.

        40

  • #
    Garry

    Everyone – write to HSBC Public Affairs in London and express your disgust at their actions and your support for Stuart Kirk. Ask that your email be passed to his superior

    60

  • #
    Bodge it an Scarpa

    My ears detect a hybrid Australian/ English accent in Mr Kirk’s speech. Can we recruit him as Co leader of the Liberal Party alongside Dutton ?

    11

  • #
    Ed Zuiderwijk

    Stuart is obviously HSBC’s best asset. Only the Board of Directors doesn’t know it.

    30

  • #
    Willard T

    If Elon is sinking 10s of millions of $$ only a few yards from the shore of the Gulf of Mexico, I don’t think there is much to worry about…

    00

  • #
    neil

    “Human beings have been fantastic at adapting to change, adapting to climate emergencies, and we will continue to do so,”

    This is how humans won the evolutionary race, we can’t become extinct because we adapt. Humans live on every continent, on the sea, under the sea, under ground, in the air even in space and soon we will live on other planets. Species become extinct when their climate changes, this can’t happen to humans because we adapt. A slightly warmer planet is no challenge for humans.

    11