Climategate 2.0: Leaked e-mails show scientists intended to deceive public

The UK Telegraph’s James Delingpole writes in the Wall Street Journal.

Excerpt:

Last week, 5,000 files of private email correspondence among several of the world’s top climate scientists were anonymously leaked onto the Internet. Like the first “climategate” leak of 2009, the latest release shows top scientists in the field fudging data, conspiring to bully and silence opponents, and displaying far less certainty about the reliability of anthropogenic global warming theory in private than they ever admit in public.

The scientists include men like Michael Mann of Penn State University and Phil Jones of the University of East Anglia, both of whose reports inform what President Obama has called “the gold standard” of international climate science, the Intergovernmental Panel on Climate Change (IPCC).

[…][A]t least one scientist involved—Mr. Mann—has confirmed that the emails are genuine, as were the first batch released two years ago.

[…]Consider an email written by Mr. Mann in August 2007. “I have been talking w/ folks in the states about finding an investigative journalist to investigate and expose McIntyre, and his thus far unexplored connections with fossil fuel interests. Perhaps the same needs to be done w/ this Keenan guy.” Doug Keenan is a skeptic and gadfly of the climate-change establishment. Steve McIntyre is the tenacious Canadian ex-mining engineer whose dogged research helped expose flaws in Mr. Mann’s “hockey stick” graph of global temperatures.

One can understand Mr. Mann’s irritation. His hockey stick, which purported to demonstrate the link between man-made carbon emissions and catastrophic global warming, was the central pillar of the IPCC’s 2001 Third Assessment Report, and it brought him near-legendary status in his community. Naturally he wanted to put Mr. McIntyre in his place.

The sensible way to do so is to prove Mr. McIntyre wrong using facts and evidence and improved data. Instead the email reveals Mr. Mann casting about for a way to smear him. If the case for man-made global warming is really as strong as the so-called consensus claims it is, why do the climategate emails show scientists attempting to stamp out dissenting points of view? Why must they manipulate data, such as Mr. Jones’s infamous effort (revealed in the first batch of climategate emails) to “hide the decline,” deliberately concealing an inconvenient divergence, post-1960, between real-world, observed temperature data and scientists’ preferred proxies derived from analyzing tree rings?

What I can’t believe is that we’ve spent billions of dollars funding myths. They lied because they were being paid by the government to lie. The government wanted a crisis that would require more government control over businesses and consumers. And the scientists found that evidence in their “research”, because that’s what the government was paying them to do.

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Bank run in socialist Europe begins

Europe: Annual Budget Deficit as % of GDP
Europe: Annual Budget Deficit as % of GDP

From CNBC.

Excerpt:

Money-market funds in the United States have quite dramatically slammed shut their lending windows to European banks. According to the Economist, Fitch estimates U.S. money market funds have withdrawn 42 percent of their money from European banks in general.

And for France that number is even higher — 69 percent. European money-market funds are also getting in on the act.

Bond issuance by banks has seized up because buyers have gone on strike.

From the Economist’s Free Exchange Blog:

In the third quarter bonds issues by European banks only reached 15 percent of the amount they raised over the same period in the past two years, reckon analysts at Citi Group. It is unlikely that European banks have sold many more bonds since.

Corporate depositors are also pulling their cash.

Free Exchange:

“We are starting to witness signs that corporates are withdrawing deposits from banks in Spain, Italy, France and Belgium,” an analyst at Citi Group wrote in a recent report. “This is a worrying development.”

And there are troubling signs that banks are even running out of collateral to back their borrowings from the European Central Bank .

So far the liquidity of the European Central Bank (ECB) has kept the system alive. Only one large European bank, Dexia, has collapsed because of a funding shortage. Yet what happens if banks run out of collateral to borrow against?

And from the leftist New York Times.

Excerpt:

The flight from European sovereign debt and banks has spanned the globe. European institutions like the Royal Bank of Scotland and pension funds in the Netherlands have been heavy sellers in recent days. And earlier this month, Kokusai Asset Management in Japan unloaded nearly $1 billion in Italian debt.

At the same time, American institutions are pulling back on loans to even the sturdiest banks in Europe. When a $300 million certificate of deposit held by Vanguard’s $114 billion Prime Money Market Fund from Rabobank in the Netherlands came due on Nov. 9, Vanguard decided to let the loan expire and move the money out of Europe. Rabobank enjoys a AAA-credit rating and is considered one of the strongest banks in the world.

American money market funds, long a key supplier of dollars to European banks through short-term loans, have also become nervous. Fund managers have cut their holdings of notes issued by euro zone banks by $261 billion from around its peak in May, a 54 percent drop, according to JPMorgan Chase research.

This is really disturbing. I wonder if any of my economics-minded commenters can explain to me what happens when there is a run on banks. I am guessing that there will be some rioting over benefits as austerity measures are imposed, and interest rates will go up.

Liberal media silent as ESCR pioneer Geron halts ESCR research

Here’s the story from CBS News.

Excerpt:

The company doing the first government-approved test of embryonic stem cell therapy is discontinuing further stem cell work, a move with stark implications for a field offering hope of future medicines for conditions with inadequate or no current treatments.

Geron Corp., a pioneer in stem cell research that has been testing a spinal cord injury treatment, said late Monday that it’s halting development of its stem cell programs to conserve funds. It is seeking partners to take on the programs’ assets and is laying off much of its staff.

[…]The company is eliminating 66 full-time jobs, or 38 percent of its staff, a process that will bring about $8 million in costs— about $5 million in the current quarter and about $3 million in the first half of 2012.

Now consider this article in the Weekly Standard by Wesley J. Smith. (H/T ECM)

Excerpt:

For years, the media touted the promise of embryonic stem cells. Year after year, Geron Corporation announced that its embryonic stem cell treatment for acute spinal cord injury would receive FDA approval “next year” for human testing. And year after year, the media dutifully informed readers and viewers that cures were imminent. When the FDA finally did approve a tiny human trial for 10 patients in January 2009, the news exploded around the world. This was it: The era of embryonic stem cell therapy had arrived!

Not exactly. Last week, Geron issued a terse statement announcing it was not only canceling the study, but abandoning the embryonic stem cell field altogether for financial reasons.

You would think Geron’s failure would be very big news. Instead, it turns out that the mainstream media pay attention only when embryonic stem cell research seems to be succeeding—so far, almost exclusively in animal studies. When, as here, it crashes and burns, it is scarcely news at all.

[M]ost of the same news outlets that gave Geron star treatment when it was heralding supposed breakthroughs provided only muted coverage of the company’s retreat into producing anti-cancer drugs.

The Los Angeles Times may be the most egregious offender. A chronic booster of Geron’s embryonic stem cell research, it reported the FDA’s approval of a human trial on January 24, 2009, in a story that began, “Ushering in a new era in medicine .  .  . ” The paper stayed on the story. In October 2010, it reported that the first patient had received an injection, then a few days later it ran a feature about the study under the headline “Hope for Spinal Cord Patients.” During the same period, however, the paper did not report the encouraging results of early human trials of treatments for spinal cord injury developed using adult stem cells.

Then last May, the Times celebrated the California Institute of Regenerative Medicine’s $25 million loan to support Geron’s study, noting that the company’s stem cell product had performed as hoped in rat -studies. Yet the day after Geron’s embryonic stem cell research unit was laid off, the Times couldn’t find the space to print the story, though the following day a blog entry ran on the Times website.

The vast majority (all?) of medical successes with stem cell research have come from ethical adult stem-cell research. Adult stem cell research does not kill unborn children. And that’s why it doesn’t draw funding from pro-abortion politicians or get positive coverage by pro-abortion media outlets. The politics is driving the science – just like with global warming research and alternative energy funding.

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