Free Republic

China currency devaluation signals endgame leaving equity markets free to collapse under the weight of impossible expectations“Men’s hearts failing them for fear, and for looking after those things which are coming on the earth: for the powers of heaven shall be shaken.” Luke 21:26 (KJV) When the banking crisis crippled global markets seven years ago, central bankers stepped in as lenders of last resort. Profligate private-sector loans were moved on to the public-sector balance sheet and vast money-printing gave the global economy room to heal. Time is now rapidly running out. From China to Brazil, the central banks have lost...

China currency devaluation signals endgame leaving equity markets free to collapse under the weight of impossible expectations It is only a matter of time before stock markets collapse under the weight of their lofty expectations and record valuations. Photo: Reuters When the banking crisis crippled global markets seven years ago, central bankers stepped in as lenders of last resort. Profligate private-sector loans were moved on to the public-sector balance sheet and vast money-printing gave the global economy room to heal. Time is now rapidly running out. From China to Brazil, the central banks have lost control and at the same...

BEGIN TRANSCRIPT RUSH: Try this one from yesterday's stack. I don't know if you people know this or not, but Al Gore has been out at the Sundance Film Festival out there in Park City, Utah. This is one of Robert Redford's big do's, and apparently Al Gore is working on a movie that -- what is the name of this movie? Oh, that's right, "An Inconvenient Truth," and the movie will document his efforts to raise alarm on the effects of global warming, and so he brought Tipper and the kids out there. He's attending parties and posing for...

A hundred years from now, if we're all dead because of global warming, scientists have my permission to spit on my grave. But that's 100 years in the future. So why did the Bulletin of Atomic Scientists move their iconic Doomsday Clock 2 minutes closer to midnight and cite global warming as a major reason? The proliferation and modernization of nukes I can understand. Human civilization can be destroyed in half an hour if there was a large scale nuclear exchange. But by the time the terrible effects of global warming are supposedly to be felt to the fullest, you...

The world is "3 minutes" from doomsday. That's the grim outlook from board members of The Bulletin of the Atomic Scientists. Frustrated with a lack of international action to address climate change and shrink nuclear arsenals, they decided today (Jan. 22) to push the minute hand of their iconic "Doomsday Clock" to 11:57 p.m. It's the first time the clock hands have moved in three years; since 2012, the clock had been fixed at 5 minutes to symbolic doom, midnight.

The symbolic doomsday clock moved to three minutes before midnight on Thursday because of the gathering dangers of climate change and nuclear proliferation, signalling the gravest threat to humanity since the throes of the cold war. It was the closest the clock has come to midnight since 1984, when arms-control negotiations stalled and virtually all channels of communication between the US and the former Soviet Union closed down. $cientists suggested that the greater danger lay in the failure of leaders to recognise and act on climate change. “Stunning government failures have imperiled civilisations on a global scale,” Benedict said. “World...

I just won a bet I made in 2002 with physicist Michio Kaku. I bet him $1,000 that “by 2020, no one will have won a Nobel Prize for work on superstring theory, membrane theory, or some other unified theory describing all the forces of nature.” This year’s Nobel Prize in Physics, which recognized solid work in cosmology (yay Jim Peebles!) and astronomy, was Kaku’s last chance to win before 2020. Kaku and I made the bet under the auspices of Long Bets, a “public arena for enjoyably competitive predictions, of interest to society, with philanthropic money at stake.” Long...

Steven Pinker on why people are afraid of accepting genetic differences between individuals and races.

When Melody Hensley first met Lawrence Krauss, she was a 29-year-old makeup artist at a department store, and he was one of her intellectual idols. She ran an atheist website in her spare time and had just started volunteering for the Center for Inquiry (CFI), a nonprofit group committed to promoting science and reason above faith. She was hoping to build a career in the burgeoning “skeptics” movement, and Krauss was one of its brightest luminaries. At a CFI event in November 2006, Krauss asked Hensley for her card, and later, as she was leaving, asked her if she was...

Once again the double standard is blatant. Critics of Islam are treated as bigots. A heroine like Ayaan Hirsi Ali who faced death threats for criticizing Islam won't be getting an award, but Rebecca Newberger Goldstein will. Ali is denounced as a bigot, booted off campuses and smeared in the press. Rebecca Newberger Goldstein receives the uncritical acclaim reserved for those who promote the unthinking prejudices of the left. Ayaan Hirsi Ali writes about Islam, which may not be criticized. Rebecca Newberger Goldstein writes about Orthodox Judaism, which like the more religious forms of Christianity, is an optimal target. Obviously...

One, and only one, candidate, Barack Obama, caught the X-factor and improbably got himself nominated and elected, and re-elected, president. Another improbable candidate could catch it again.What is that X-factor? How does it upend things?Peace and personal security continued to flourish in 2014 and are likely to continue into 2015 and beyond. This is important news. It also is news the news media can ill afford to report. But voters sense it.Two of our greatest public intellectuals, Steven Pinker and Andrew Mack, provide a defining “state of the world” summation in Slate.com inThe World Is Not Falling Apart. The evidence...

Neuroscientist Steven Pinker on the triumph of peace and prosperity over death and destruction You are less likely to die a violent death today than at any other time in human history. In fact, violence has been declining for centuries. That is the arresting claim made by Harvard University cognitive neuroscientist Steven Pinker in his new book, The Better Angels of Our Nature: Why Violence Has Declined (Viking). The title, taken from Abraham Lincoln’s First Inaugural Address, refers to the way in which the modern world encourages people to suppress their inner demons and let their better angels fly. Just...

For if we ever begin to suppress our search to understand nature, to quench our own intellectual excitement in a misguided effort to present a united front where it does not and should not exist, then we are truly lost. –Stephen Jay Gould [Y]ou’ve heard me complain about scientific organizations that sell evolution by insisting that it’s perfectly consistent with religion. Evolution, they say, threatens many peoples’ religious views — not just the literalism of Genesis, but also the morality that supposedly emanates from scripture. Professional societies like the National Academy of Sciences — the most elite organization of American...

A Darwinist Religious Experience Described April 11, 2009 — As millions of Jews just completed Passover, and as millions of Christians gather to celebrate Easter, a Darwinist reporter was experiencing “existential vertigo” – a sweeping sense of dizziness as her imagination zoomed in and out of the implications of her faith. It may be the closest thing that a secular materialist can call a religious experience. And religious experience is an accurate description: it was the outworking of an all-encompassing world view, with ultimate causes, ultimate destinies, moral imperatives, and heavy doses of faith. Amanda Gefter (see her previous attack...

Moral conservatives were shocked to read a thinly veiled defense of infanticide in the New York Times a few years ago by MIT [now of Harvard] professor Steven Pinker. But they would be even more disturbed if they saw Pinker’s justification for his views in a book that appeared about the same time. In How the Mind Works, Pinker argues that the fundamental premise of ethics has been disproved by science. “Ethical theory,” he writes, “requires idealizations like free, sentient, rational, equivalent agents whose behavior is uncaused.” Yet, “the world, as seen by science, does not really have uncaused events.”...