We should pay attention when people sound alarms at their own peril

It fascinates me when an old post starts getting some attention. Right now, one called “Who is Paul O’Neill and why should his opinions matter?” is getting a few looks (a link is below). In essence, O’Neill was fired as Secretary of the Treasury for voicing an opinion the President did not like.

What did he say, you ask? He said he was concerned about the debt and felt the Bush Tax Cuts were unneeded. This is after Bill Clinton handed a surplus budget to the younger Bush. It should be noted the debt is now 5 times larger.

Recently, the well respected Director of National Intelligence Dan Coats resigned under pressure as he told the inconvenient truth about Russian influence and its continuation. Like O’Neill, this clarion call should be heeded. Like with General James Mattis’ resignation last December, Coats departure is giving GOP Senators pause, yet they refuse to act.

Back in late 2007, a Texas financial analyst noticed that people who could “fog a mirror,” were getting huge mortgage loans on properties that seemed to be over-inflated in value. He did his homework and was able to get a meeting with the CFO of Bear Stearns. He told the CFO he thought Bear Stearns was over-extended with risk and was going to to go under.The CFO thanked him and the guy uttered these parting words – well, I am going to bet against you. Within the year, Bear Stearns was bought for a very discounted price before it went under.

Colin Kaepernick is a good NFL quarterback, but he has been blackballed from the league after calling attention to the unequal rights and treatment of Blacks in America. His civil protest was hyper-politicized by a hyper-political president, so he was blackballed, a term which seems apt. Yet, we have a difference in how Blacks are treated. Even further, our society is more economically unequal than it has ever been, with haves owning much greater shares. A society cannot withstand such differentiation for too long. Kaepernick’s protest should be heeded not condemned. His protest is far more emblematic of American values than a flag or anthem ever could be.

Those who are giving clarion calls should be given due consideration. There are financial analysts who have cautioned against Brexit from the outset. Those concerns have fallen on too many deaf ears. Their corollary message is even more dire – do not leave the EU without a deal. That is beyond poor stewardship. It matters not what the current PM says. Yet, if it does happen, it is only fitting that Mr. Johnson is the one trying to deal with the fallout.

Before I close, let me go back to someone who is similar to the Texas man who tried to forewarn Bear Stearns. The movie “The Big Short” highlighted one person of several who saw the housing recession coming. When his concerns fell on deaf ears, he had them create a product to pay off if he was right.  The industry laughed at him until a couple of years later they realized he was right. His clients made a fortune. The movie ends by telling us what this man is now investing in – water. While it does not get much play here, we have a global water crisis which rivals climate change as a concern. He saw it coming.

https://musingsofanoldfart.wordpress.com/2013/03/20/who-is-paul-oneill-and-why-should-his-opinions-matter/

Three brief environmental news stories

The following are three snippets from recent news stories on our environment. Two are focused on climate change, while the latter is focused on our global water crisis, which gets so little air time. Yet, when the World Economic Forum polls its members on the greatest long term risks facing our planet, the top two risks are the global water crisis and climate change inaction. It should be noted, climate change worsens the global water crisis, through faster evaporation of reservoirs.

California, four automakers defy Trump, agree to tighten emissions rules – by David Shepardson and Ben Klayman in Reuters on July 25, 2019

“Four major automakers said on Thursday they have reached an agreement with California on fuel efficiency rules, bypassing a Trump administration effort to strip the state of the right to fight climate change by setting its own standards.”

Note: The companies did not want the president to strip away the Bush and Obama intitated standards for improvement on fuel efficiency. Since California has the fourth largest economy, by itself, in the world, this agreement is important.

It feels like something out of a bad sci-fi movie’
A top climate scientist quit USDA, following others who say Trump has politicized science – by Helena Bottemiller Evich in Politico on August 5, 2019

“One of the nation’s leading climate change scientists is quitting the Agriculture Department in protest over the Trump administration’s efforts to bury his groundbreaking study about how rice is losing nutrients because of rising levels of carbon dioxide in the atmosphere.

Lewis Ziska, a 62-year-old plant physiologist who’s worked at USDA’s Agricultural Research Service for more than two decades, told POLITICO he was alarmed when department officials not only questioned the findings of the study — which raised serious concerns for the 600 million people who depend on rice for most of their calories — but also tried to minimize media coverage of the paper, which was published in the journal Science Advances last year.”

Note: This purging of data, suppression of reports and denigration and sidelining of climate change scientists should be raising red flags. Instead of arguing the veracity, the Trump administration is going out of its way to bury the findings of peer reviewed scientists. Why? What further troubles me is if Trump wants to “Make America Great Again,” why is he giving away a scientific expertise to other countries? I recall when President Macron of France extended an open invitation to US climate scientists.

Extreme water stress affects a quarter of the world’s population, say experts
Qatar, Israel and Lebanon top list of places with worst shortages, as climate crisis threatens more ‘day – by Emily Holden and Vidhi Doshi in The Guardian on August 6, 2019

“A quarter of the world’s population across 17 countries are living in regions of extremely high water stress, a measure of the level of competition over water resources, a new report reveals.

Experts at the World Resources Institute (WRI) warned that increasing water stress could lead to more “day zeroes” – a term that gained popularity in 2018 as Cape Town in South Africa came dangerously close to running out of water.”

Note: This is a huge problem, especially in drought prone areas like Texas here in the states. There are competing forces for water, drinking/ food preparation, bathing and washing clothes, agriculture irrigation, fracking, etc. that are exacerbated by increasing populations and climate change. There has also been poor water management in too many areas. Better piping would help, using plants that are more endemic to an area use less water, moving away from fracked natural gas, planning the sources of water to save them, addressing climate change, etc. would help.

I like using this item as it came from an unexpected source – a Duke Energy spokesperson let it slip that they factor into their models an additional 11% evaporation loss from their water reservoirs due to climate change forecasts. If climate change is a hoax, why would one of the largest utilities in America be modeling that?

These three stories highlight that we must plan and do things now, before it is too late. We lost eight years under the Bush administration and have lost about two and half years under Trump to leverage federal climate change action. Bush had a petroleum lobbyist as his White Council on the Environment and Trump has a coal lobbyist as head of the EPA. Plus, Bush’s Vice President was a former petroleum CEO and who had a heavy hand writing in the 2005 Energy Act that fracking need not be subject to the requirements of the Safe Drinking Water Act and Clean Air Act. Why?

Why are such great pains being taken to suppress reports, data, laws and scientists? Why would not someone who claims all of this hoax not use fact-based arguments to counter? And, if that is not enough, the Trump administration prevented the authors of a multi-agency report on the risk of climate change from testifying in front of Congress to keep their testimony out of the public record.

 

The Good and Bad

Several stories crossed my screen, so I decided to pair good and bad news items on related topics.

Good: Ford and Volkswagen are co-investing in developing electric vehicles sharing development costs.

Bad: In spite of the significant decline in bee populations, the Trump administration has approved a bee-harmlng pesticide.

Good: The American economy is now into its 121st consecutive month of growth with nine straight years of 2 million plus jobs created.

Bad: The 2019 economy has softened some from 2018 due to trade/ tariff concerns, slowing global markets, waning impact of the 2017 tax law, growing US debt, and increased uncertainty which impedes investment and it should slow even more as predicted by economists.

Good: The interest in space travel and exploration involves an increasing number of countries – Japan and China have gone to the moon, eg. That spawns more interest in science which is terrific.

Bad: With the heavy cost of space travel, why don’t countries share the burden as Ford and Volkswagen are doing above? There is a lot of dupication of effort requiring money that could be invested here on earth to address water, food and climate issues.

Good: In spite of the US announcing a withdrawal from the Paris Climate Change Accord, other countries, states, cities, investment groups, companies and innovators continue to execute ideas that are addressing the issue.

Bad: The US federal governmenf needs to do more, not less to abet these efforts. Yet, another concern is getting little notoriety – the global water crisis, which is made even worse by climate change. Another city in India of 5 million people is in dire straights as its reservoir has almost dried up.

We should celebrate the good, but address the bad. We seem to be ignoring too many signals. It is hard to move forward, if we only look in the rearview. mirror. Food, water, climate, debt are signaling needs that must be addressed.

 

 

 

The ice is going to break

The title is a crucial line from a movie called “The Dead Zone,” based on the Stephen King novel. I use this line as a metaphor for ignoring real problems. Let me explain the context. The movie stars Christopher Walkien as Johnny, who because of a car accident, could see the future after touching someone. But, if the future was less clear, a dead zone as he described it, he could alter the outcome.

A boy he was tutoring was supposed to practice ice hockey on a frozen pond with his demanding father as the team’s coach. But, when Johnny touched him, Johnny saw the ice breaking. His father said that was crazy, even though both men knew the father did a background check before hiring the tutor. Johnny slammed his cane on a chess board and said “the ice is going to break!” The son stayed home, but the father went ahead with practice and four kids drowned as the ice broke.

So, Mr. President, members of Congress and various state legislators, let me state obvious problems with this metaphor in mind.

– We have a global water crisis including in the US with the World Economic Forum identifying it as a top long term risk. Farmers are having to fight harder to protect their diminishing water rights. It will be made even worse by climate change.  And, the problem is exacerbated with the significant water loss in fracking and lead pipes tainting some of the dear water.

– That climate change thing is a problem in its own right. Our federal government and several state government need to pitch in more and help. The President backing out of the Paris Climate Change Accord is as poor a decision as could have been made, especially when it came the day after ExxonMobil shareholders voted to order management to inform them on what they are doing about climate change.

– I learned today our EPA is turning a blind eye to asbestos. Since Brazil stopped production of this toxic product, we now are importing asbestos from Russia. As a metaphor for this President, each bag of toxic asbestos imported from Russia has Donald Trump’s picture on it. A toxic material imported by a toxic man from another toxic man.

– Although, debt is not an environmental concern, our so-called leaders are ignoring this huge and growing problem. As interest cost grows to a greater part of our budget, it will hinder our ability to do other things. We must spend less and increase revenue both. The math will not otherwise work,

The ice is going to break. We must heed the warnings now. If we don’t, we may be the ones who drown.

It is time to govern

Now that the elections are over, it is time to put away the rhetoric and focus on governance. This used to be how it was done, until we segmented the news into various markets. The past twenty years or so, we seem to govern off the campaign rhetoric rather than facts and collaboration has become a dirty word.

As an Independent voter, who has been a member of both parties, the governing off rhetoric and lack of collaboration need to stop. Neither side owns all the good ideas and both sides have some bad ones. And, we need to focus on the underlying truths and facts rather than tweets and who wins a public relations battle over an issue. Process matters – when politicians deviate from process, it is for political reasons.

In this spirit, here are the issues that this voter thinks we should focus on. Many voters have voiced agreement on some of these, but some issues just don’t get due attention.

– we should stabilize and shore up the ACA which most Americans favor: funding commitments to insurers will stabilize premiums, as will expanding Medicaid and considering the expansion of Medicare down to age 55, 60 or 62.

– we should ditch the harmful tariffs and work with our allies and the WTO to pressure China to stop the intellectual capital theft. Tariffs hurt consumers and producers, especially our farmers.

– we should address infrastructure needs which are many, doing so as we have done in the past with a blend of business, venture capital and federal, state and local government funding.

– we should recognize that the two biggest threats to our planet per the World Economic Forum are our water crisis and climate change, which exacerbates the first issue: strides have been made, but we need to reassume our global leadership role on climate change and focus on measures to address both.

– we should add more governance around gun control issues: Gun-owners and non-gun owners have voiced agreement on measures that would help. It should be noted most gun-owners do not belong to the NRA, so the NRA’s political activism against reasonable change should be noted, but not over-emphasized.

– The deficit and debt are building to a point of huge reckoning. It has been eight years since the Simpson-Bowles Deficit Resuction Committee report was shelved. It was shelved because it recommended $2 in expense cuts to every $1 in revenue increases. It was shelved because neither party had the political courage to roll up their sleeves and make tough decisions – we cannot get there with only expense cuts or revenue increases, needing both.

– We should stop the lack of civil discourse and beating up on the media. The media’s role is vital to our democracy. Pay attention to where your news comes from. Be wary of opinion disguised as news. Tweets are not long enough to show context or subtlety and are an easy way to misinform, as a result. To this end, it is vital for our democracy to return to appropriate Congressional oversight. We are not a kingdom.

If anything, we must have our politicians work together. The crime bill the President is pushing and that passed the House is not perfect, but is a bipartisan effort. It makes steps forward. Let’s make needed improvements and get something done. And, that is what Americans want most from our politicians – stop the grandstanding and get stuff done.

 

 

Saturday in the park salutations

Happy weekend. Saturday in the park is an idea worth considering. I will need to check with my better half regarding her thoughts for the day. Below are a few rambling thoughts to salute the news of the week.

Pakistan has selected a new leader, a very charismatic former cricket star named Imran Khan. He has promised to end corruption and offer better governance. I wish him well, but a reporter once said on NPR, the corruption is ingrained and corrupts the best of intentions. It should be noted his rivals are crying foul and want a new election.

Speaking of the best of intentions, Theresa May is trying to take Great Britain out of the EU with some semblance of a plan. It is surprising it has gotten this late in the game without more planning achieved. I still hold out hopes that the Brits will realize they screwed up and remain in the EU. Voters were not told of all the facts and I fault people like Boris Johnson, Nigel Farage and Vladimir Putin for their roles in deceiving folks. Decisions based on pride tend to lack prudence.

The now annual severe wildfires out west continue and are alarming. On the other end of the spectrum, stalled or slow moving weather patterns in the east are flooding various areas. In the middle of the country, severe heat is causing major concerns to drought areas. In 2011, a report put together by the largest pension trust managers in the world noted their financial concerns over not addressing climate change. They noted the increase in wildfires, concerns over severe droughts and stalled weather patterns as huge financial concerns. All of the above are a concern, but the fire and drought issues also shine a spotlight on our global water crisis, where certain areas around the world are in danger of diminishing access to fresh water. Yet, the leaders of our federal government are doing their best to avoid recognition or discussion of climate change action.

Another CEO, Les Moonves of CBS, has been accused of past sexual misconduct. It seems that men who lead (or are stars in) entertainment businesses that hire and promote attractive people cannot keep their hands and other body parts to themselves. Fox, NBC, Weinstein, and CBS have each had bad apples. But, as women know, this is a universal problem where men with power can impose their will on women in less senior roles. This is why the video of the waitress throwing the man, who felt up her fanny,  to the ground is so inspiring. He was held and charged with sexual battery.

Finally, the stand your ground law in Florida has caused yet one more death. A white man, who has taken it upon himself to accost people who park in handicap spaces, was shoved to the ground by a black man who took offense at his remarks. From the ground, the man is seen shooting (and killing) the shover. The man was not charged due to this law, which has caused a split on public opinion. Two questions – would opinion change if the races of the men were reversed?  Would a man be dead if a gun was not present?

Other news abounds, but I wanted to focus away from news that seems to suck all the oxygen out of the room.