An Old Failed Prediction of Global Warming
In 1976 Stephen Schneider published a book called The Genesis Strategy. It is about how near term cooling of the earth’s climate would cause famines around the world. Schneider, at that time the Deputy Head of the Climate Project ant NCAR, proposed storing food to avoid mass starvation.
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By the end of what must have been a terrible, horrible, no-good, very bad day in Build-a-Bearville, CEO and Founder Maxine Clark published the following letter to the public.
As I have previously noted, credit default swaps are destabilizing for the economy. See this. And the models used to evaluate financial instruments – such as the Gaussian copula formula for CDOs – are inherently flawed.
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