Guest essay by Eric Worrall
The Bank of England has stepped into the climate fray, with a claim that climate change poses a huge financial risk to UK based businesses. For once I believe the Bank of England is absolutely correct (more below).
According to the Sydney Morning Herald;
Bank of England Governor Mark Carney said Britain’s insurers face potentially “huge” exposure to shifts in climate-change policy and Group of 20 nations need to do more to combat associated financial-stability risks.
“The challenges currently posed by climate change pale in significance compared with what might come,” Mr Carney said in a speech at a Lloyd’s of London dinner.
“Once climate change becomes a defining issue for financial stability, it may already be too late.”
England’s central bank has been looking into the economic and financial-stability risks posed by climate change and Carney spoke as the BoE published a report on the impact on the British insurance industry. As well as physical and liability risks, British insurers, which manage almost £2 trillion in assets, also face threats from the re-pricing of investments in fossil fuels in the move toward a lower carbon economy, Mr Carney said.
“The exposure of UK investors, including insurance companies, to these shifts is potentially huge,” Mr Carney said. General insurers are the most directly exposed to such losses, he said.
Why do I agree with Mark Carney, that climate change poses a huge financial risk to UK based businesses? The reason has nothing to do with the weather, which, given the multi-decadal decline of weather extremes, is currently surprisingly benign.
In my opinion, the biggest climate related risk for owners of UK based businesses, is the risk of lunatic political interventions, which destroy the financial viability of your business.
WUWT reported that Shell recently abandoned exploring the US Arctic, because of regulatory uncertainty.
In the UK a similar scandal has erupted, with the closure of Redcar steel, a major steel works. One of the reasons given for the closure, and loss of thousands of jobs, is that the excessive green tariffs UK based steel plants and other intensive energy users have to pay, are making it impossible to compete with foreign businesses. (h/t Roger Helmer MEP)
Gareth Stace, director of UK Steel, said: ‘Sympathy and warm words are welcome, but Ministers must now get behind British steel and deliver the support that we urgently need.’
He called on the government to ‘create a level playing field for British steel by fully compensating the industry for the high cost of electricity caused by the imposition of climate change policies‘.
What should UK businesses do, to avoid catastrophic regulatory instability, and unsustainable, politically imposed green costs? One option surely well worth considering is to relocate business assets and infrastructure to Asia.
Asia does not appear to have abandoned cheap energy and economic sanity. As WUWT recently reported, China and Japan are stepping in, to finance energy / industrial infrastructure, and to facilitate economic activity on a scale which the Western world no longer wishes to embrace.
Businesses should also seriously consider moving their head office and share market listing, as well as their physical assets. There have been multiple suggestions over the years, that the global assets of businesses should be fully included in any carbon accounting regime, regardless of the regulatory regime in the country where the assets are physically located. Keeping the business head office in the UK might still leave a business vulnerable to future regulatory instability.
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The Bank of England???? Those super conservatives??? Unbelievable.
Only in Europe are socialists considered conservative.
What does that even mean? dumb ass!!
Sparks, it means that Democrats in the US are far to the right of European Conservatives. Perhaps you should do a little research on this or be the dumb ass.
Obviously to late to avoid being the “dumb ass”
“Democrats in the US are far to the right of European Conservatives.”
Yeah, but that is ’cause they ain’t done yet.
Unless conservatives have anything to say about it…next November.
Hey Sparks!
So I’m thinkin’ you’re a low-bid hive-bot, from the workshop of Shukla, Shukla, and Shukla, designed to seize and dominate the heretofore neglected “commanding heights” of “AU” (Artifcial Unintelligence) agit-prop, currently failing your Beta-test. Anything you got that says different, Sparks?
Hey Sparks,
Look I know your Beta-test is kinda goin’ South, and all, and we might very well loose you in the next hive-purge, just like we lost Al Gore and Naomi Oreskes, in the last, (though we did get Naomi Klein and her Fox-News hot-babe good-looks in exchange), and everything.
So lookin’ out for you, Sparks, I’m thinking all that’s needed to fully realize your “AU” (Artificial Unintelligence), hive-bot potential is for the geekball flunkies, managing your programming details, to provide you with a mummy-bot that coos “I’m just so proud of my little Sparky-bot, snookum-wukums sweetie-pie! and his little potty-piehole!” I mean, like, add that last feature to your hard-coded instruction-set and you’ll be an instant hit with the Hive-Bozos who count, since you’ll fit right into their mummy-dearest, weenie-normative, testosterone-phobe, group-think world of good-comrade, chronic-whinger Gruber-clones.
And just so you know that your little, hive-bot self-esteem is so very, very important to moi, Sparks, i’ve even taken the trouble to award you a trophy for each and every one of your comments! That’s right, Sparky–a whole shelf full of unearned trophies! That’s a happy-bot, Sparky!
P. S. Hey, Sparks, you might want to let your hive-“betters” know that if they paid for a “spell-checker” feature in the contract for your manufacture, then they got de-frauded. Just sayin…
Hey Sparks!
I just want you to know, Sparks, ol’ buddy, that I feel for you and your can’t-scratch-the-itch frustrations, guy, what with you being an electronic-fiction hive-bot, and all, with no corporeal reality, and thus lacking any real-life zits on which to work out the insistent, bathroom-mirror-tropic demands of your “SZA” (Serial Zit Abuser), hard-coded program-module. And no!–I don’t want get into your “play with yourself”, wanker-module issues–thank you very much, Sparky.
But I guess that’s what you get when a bunch of hive-dorks design a bot–right, Sparks?
There is no doubt that in UK and Europe conservatives are socialists. I think the same applies to USA. In both USA and Europe the cons. refuse to roll back socialism.
The other shoe drops:
–Let’s see now, the hive unleashes “dumb ass” Sparks–a tourette-syndrome wrecker-bot, of the crudest, lackluster, eco-lout variety–on this blog as a Beta-test of the hive’s latest agit-prop fad–weaponized coprolalia. In addition to which, Sparks, down thread, there, treats us to a half-baked, hive-plant CO2 theory.
–Hotwhopper, then, at her obscure, pathetic, loser, nerd-pit blog, picks up on Sparky’s CO2-theory hive-handiwork and–get this!–works-up a little blog-post that takes WUWT to task for giving Sparky (which Hotwhopper pretends is a “denier”) a platform!–remember we’re talkin’ Sparks, here, the world’s first hive-bot public-nuisance to be experimentally fitted with a “tic-disorder” program-module (so what demented-dork, good-comrade, bot-design-bureau apparatchik came up with that crazed, moronic idea, anyway?). (Google: hotwhopper out of the mouths of deniers it snows CO2 when its cold”).
–So I think it’s evident that the whole Sparky-deal was a ham-handed, multi-blog team-effort at a full-monty, slicko-booger bit of Alinskyite dirty-trickery. Not that us lovers of liberty and ethical science have anything to worry about as long as it’s Hotwhopper and her half-dozen-or-so, geekball creep-outs workin’ the hive’s big-push, run-up-to-COP-21, flim-flam offensive.
Political orientation has nothing to do with it. The big money in climate change is in the carbon exchanges. Brokerage houses, such as Goldman Sachs and presumably the BoE, will take a piece of every carbon credit they trade. And all they have to do is move electrons back and forth. The profits will be immense.
Now that’s hilarious. “Big money” in carbon exchanges? Bwahahaha.
After the hottest year evaaaah and the hottest decade evaaaaaah here are the results from the insurance industry…………….NOTHING! Zilch! Nada! Unimpressed! Business as usual! See my references.
Mark Carney was a gift from Canada — oh, and his wife too.
Hopefully they will not be returned.
What you may not realise is that the current Governor of the Bank of England is Mark Carney, a Canadian with a Greenpeace obsessed wife.
As I recall, Mark Carney came from the Bank of Canada to the U.K.
Same reason German energy giants like E.ON split off fossils (coal) from renewables, forming two separate businesses.
Both E.ON & RWE are suffering currently. The Greens think this is great – “punishment” for not having jumped on the Renewables bandwagon early enough!
But how much longer will German taxpayers and ratepayers put up with exorbitant prices and wastefulness?
Questions which were asked here in this brilliant analysis of the PV subsidy bubble, back in 2008 and revised in 2012:
http://www.rwi-essen.de/media/content/pages/publikationen/ruhr-economic-papers/REP_12_353.pdf
A Reuters article on Wacker, a German chemicals company which is being whacked by high energy costs. Not surprisingly, Wacker are now investing outside Germany and exporting German jobs. Same happened with UK aluminium smelting and iron production.
http://www.reuters.com/article/2014/06/02/us-usa-germany-power-specialreport-idUSKBN0ED0CS20140602
De-industrialisation eventually results in unemployment, poverty and depopulation. Ask Chicago what happens when you lose all your industry. And this is especially hard on the working classes, who man the production lines of big industry and do not have the skills and education to retrain for other jobs.
Is this what Greeny politicians want? Probably yes, in the short term. But they will soon find that no profitable companies, means no tax receipts, a bankrupt government, and no money to finance all these subsidised Green projects. As usual, Socialism is the best political policy – until they run out of other people’s money.
R
What do the Reds & Greens want?
Nationalization of industry – weakened industry could be “rescued” by the government.
This may be happening right now.
Either that or bankruptcy. Take your pick.
http://boerse.ard.de/aktien/eon-und-rwe-infusion-fuer-totgesagte100.html
E.ON and RWE: look at the trends since Dec. 2007:
http://www.reuters.com/finance/stocks/chart?symbol=EONGn.DE
http://www.reuters.com/finance/stocks/chart?symbol=RWEG.DE
Energy and “Climate” Policies have exacerbated the disastrous trend.
The eventual outcome is still uncertain, but the empty statements about “solar and wind costs being at all-time lows” haven’t translated into cheaper energy – neither for industry nor for consumers. Simply because the Renewable Energy Laws make the users foot the bill — especially if the wholesale energy prices tank!
Smart companies with high energy consumption will hedge their bets – this means investing in production sites with low unit energy costs.
The Detroit area can be added to this list as well. Auto makers moved to China and Mexico.
Good thing us Canadians send this joker and his greenie spouse across the pond.
I, for one, would like to see how they calculated that. I’d love to see the actuarial tables and their assumptions… aside from the trade related tariffs imposed by green socialist nations.
Wouldn’t you like to bale out a bank or two before you start taking down some busy body? dumb ass!
Sparks …. do you have anything to add to the debate? Or are you congenitally retarded?
It may be hard for Sparks to answer a question with so many big words in it.
We used to tell he kids not to be a “potty mouth”. I also think that would be good advice here.
Dumb ass! Is that the same as “shit for brains”?
bail out, not bale out.
You’ll find that it is all scenario based, Paul. None of it flows from actuarial tables or data. Scenarios are valid for exploring the tails of extreme distributions but hold no predictive power. They are also useful as a justification (for reinsurers in particular) to increase premium rates.
Eric,
You may be interested in this fine example of flattery:
http://www.huffingtonpost.com/samie-alachrafi/cop21_2_b_8205670.html
Hilarious 🙂
Maybe you should sue (or just embarrass) him for “plagiarizing” your Google search and reposting without so much as acknowledgement.
Except THE CLIMATE ALWAYS Changes ,,, when the climate stops changing we have a real problem ,,, and if that evil climate were to stop changing exactly at what temperature should it stop at,,,, now a hiatus in climate change that’s normal as after a hiatus the climate will either warm or cool as it always does !!!
No person alive has ever said, “I wish everything was expensive” that’s one thing “man made global warming” has been responsible for.
Sparks! You forgot to add “dumb ass”
Edmonton Al:
Yes, Sparks did forget which is a shame because it is the first time in this thread that Sparks did not add “dumb ass!” when it was warranted.
Richard
My exact thoughts on this announcement.
i.e. that extreme weather is a massive risk to long term UK financial security.
And that it is what we are doing in response to this hypothetical problem that is producing the risk, and not the non-existent problem that we seek to solve!!
In addition problems that are falsely blamed on extreme weather are in reality neglected whilst the weather-changers commit billions to sun catchers, wave machines and floating windmills.
And who is Mark Carney? What is his expertise?
The BBC reported his words as a main news item.
Criticism of his views, even if sourced from a long-standing professional climatologist such as, let’s say, Judith Curry, would have been excluded from BBC airing due to their ban on the views of climate skeptics.
And so, a non expert can now voice his delusional beliefs and go unchallenged by even the accepted science. Even if his views are NOT supported by the IPCC.
His direct audience, Lloyds Insurers are surely very happy for this delusion to play its course.
Any business is interested in its customers over-valuing its products.
In the case of insurance, the market value of the product rises in proportion to the customers estimation of risk.
If the perception of risk rises whilst the actual risk does not, then profits rise.
So, no wonder that the insurance business is happy to play along with the trumpeting of this chief fool.
And who is Mark Carney? What is his expertise?
His wife has swallowed the green pill.
http://www.theguardian.com/business/shortcuts/2012/nov/27/diana-fox-carney-bank-governors-wife
… a tree hugging radical leftist …
Thanks for that insight.
How wonderful to be lectured by the super-rich on how wealth can not buy happiness.
That tired old cliche.
She should try living on my salary for a year. Approximately 1% of her husbands state funded salary.
Then she’d change her mind about the merits of having shedloads of dosh to play with.
How tired I am of hearing about the challenges faced by those at the top.
They have no idea what life is like for real people at the bottom.
I haven’t been on holiday in over ten years.
It isn’t me guzzling all the jet fuel.
So why am I expected to suffer the increased regulatory burdens and meddling and increase bills and taxes to serve the fantasies of these fools?
Brilliant article. That really did brighten up my morning.
>>She blames the “visibility and excess” of those in the “top
>>0.1%” for increasing the gap between the rich and the poor
Says the wife of a man earning $1 million a year, without a trace of irony. Or does she imply here that the wealthy should conceal their wealth more?? A bit hard to ‘conceal’ that rocking-great Rolls Royce, darlin’.
.
>>She wrote warmly about the Occupy movement –
>>which channelled public anger against bankers.
You really could not make this up. Its like the feminist movement in London protesting and chanting: “we are all Hamas now”. I suppose they will all join ISIS-ISIL next, because they are sooo liberal daarrrling, especially their progressive views on gay rights.
.
>>The politics of division are coming home to roost.
She declared, while adding to their mansion’s already substantial security systems.
.
>>She has seen the devastation that our consumerist
>>habits are wreaking on marginal communities.
Apparently, her cleaners, maids, gardeners and chauffeur told her all about the difficulties of ‘marginal communities’. And she advised that everything would be fine if they purchased cake instead of bread. Such a wise woman, you see.
.
>>News reports gushing about the “classic English rose”.
Grauniad-speak for looking like a strangled vegetarian weasel – but worth praising because her husband is a banker. With a ‘b’, of course.
A Guardianista’s ‘English Rose’:
http://static.guim.co.uk/sys-images/Guardian/About/General/2012/11/27/1354037535394/Diana-Fox-Carney-giving-a-011.jpg
Mark Carney is a former governor of the Bank of Canada. Here’s a sample opinion from a Carney skeptic:
http://business.financialpost.com/fp-comment/peter-foster-mark-carney-zamboni-driver
Great, I’ve bookmarked that one to read tomorrow.
Initially, I simply concluded that the women of the UK would have ideally wanted George Clooney for the job.
Clooney had other commitments and so Carney was the closest thing available at the time.
After all, how difficult can NOT MAKING AN INTEREST RATE RISE actually be?
I wonder what the total cost of green lunacy is – so far?
…and will its finale cost end in world war? (Not a poor attempt at humor, but a serious question)
OLT, But…Joaquin now nearing major Hurricane status…winds at 105 MPH. Eye has formed, eyewall becoming more circular.
Wasn’t it about 8 years ago where the Corus steel plant closed , and I believe it was owned by Tata. The reason for closing then was the sale of carbon credits yielded 3/4 of a billion dollars. 3,000 jobs were lost. Then, Tata opened a new, modern plant in India with lower operating costs. All part of the Carbon Credit scam.
Corus was located in Redcar – SSI UK bought the closed steel mill from Tata in 2011 and it was named Redcar Steel..
Any idea how much rising UK energy costs played a part in the TATA calculations?
No, but the entire plan all along was to utilize the carbon credits at a good price for a huge payoff, plus close the Corus plant, and to build a modern plant in India.
And now what remains is being closed with the loss of further jobs.
http://www.theguardian.com/business/2015/sep/28/redcar-steel-plant-to-close-with-1700-job-losses
To which can be added aluminium smelting – none left in the UK. Oil refineries are becoming rare as it is cheaper to bring in the finished products from abroad because of….high energy costs. That was mentioned in the Grangemouth refinery scuffle with unions. So green policies at work where renewable green energy destroys proper jobs in a ratio of 3.4 to 1.
Mark Carney is clearly new to the UK.
When he arrived to receive his very generous tax-payer funded salary of the larger part of £1million per year, he first announced that he was going to use our employment figures as a measure of economic growth. Unemployment fell in the years following the crash, but this did not equate to growth.
Mr Carney was seemingly mystified and eventually announced a change of plan.
Had he actually lived here, then he might have known what I, an ordinary British bloke, know.
Which is that the unemployed people claiming Job Seekers Allowance were being encouraged to set up fake self-employed status and then claim Tax Credits for their new loss making or zero-profit making business enterprise.
I personally know people who have been self-employed for several years in an imaginary role, in which they have made zero money.
If Mark Carney had known about our propensity to fiddle our employment figures then I can not imagine that he would have relied upon them as any kind of useful indicator of anything at all.
Similarly, here in the UK, we all know that extreme weather occurs primarily when the weather is cold.
This is my cold weather is shitty weather hypothesis.
Warmth is a boon to the UK. And warm balmy summer weather is the safest and least extreme weather that we have. Heat waves and droughts when they rarely arrive are rarely serious and are generally enjoyed by all the family.
Cold shitty weather is what we should be afraid of. Such as nasty winter storms.
Unfortunately the much touted 4 degree rise in average temps is not currently manifesting as promised.
For most citizens, this temperature rise could not come soon enough.
Many people have constructed a patio and water feature in anticipation of the onset of global warming!!!
The climate has always been changing and so that risk has always been there. It is not more nor less extreme since the end of the LIA though it was far more risky as the LIA developed. It is probably a good thing bankers of the period lacked the technology to prevent the (presumed) dangerous warming that followed the LIA else we’d still have glaciers in the most awkward places. Turns out the end of the LIA preceded a very pleasant climate for quite a long time. But as stated, the climate always changes with ups and downs. Learn to live with it because it was never going to be permanent.
When does a minor fluctuation of temperature effect a bank? surly the bank and it’s employes use models or something?
Are you familiar with the agriculture industry? That is a huge banking interest. A bad season for soy or wheat or what ever is huge. So too is a good season. Climate and ag go hand in hand.
The Bank of England isn’t alone in its ‘fight against climate change’ today:
Prince Charles has urged judges to use courts to combat climate change:
http://www.dailymail.co.uk/news/article-3254256/Back-climate-change-agenda-Charles-tells-judges-Prince-makes-public-bid-influence-courts.html#ixzz3nGuzdg4F
And in a similar Mail article on a related subject:
“But scientists accuse him of promoting ‘mumbo jumbo’ and ‘quackery'”
The Princes clear mission in life, to lead us all, away from real science, and towards popular mass delusion.
http://www.dailymail.co.uk/news/article-2938733/Homeopathy-petulant-prince.html
Write it up, send it to Anthony using submit story 🙂
Conflating financial risk with climate change is a no-brainer. Financial risk is concerned with cost, particularly with assets such as residential/commercial premises rapidly rising in value (aka … inflation) and riskier siting of those assets in areas likely to flood or due to lowering quality standards of construction. It only becomes a problem when insurers have to pay out the higher amounts on the riskier construction (or insurers refuse to insure, which then allows the media to trot out the poor “victims”)
Those causes are more likely to be caused by politicians and/or bankers than climate change. Carney being of the latter group diverts attention by invoking “climate change” and no doubt supported by the former group – both of whom do not wish to be seen as the perpetrators of silly policies
They have lost the argument on the facts, They are losing the argument for public opinion. Last chance, is to convince the legal system that their argument has merit!
The laws of men do not trump the laws of physics, no matter the eloquence of the lawyers…pg
What argument? what facts? who won? The laws of men are there to guide! dumb ass!
Exactly so, Mr. Worral. It’s not climate or climate change or weather that poses huge financial stability risk, it’s bone-headed climate change POLICY. And there’s plenty of that on the table.
“The exposure of UK investors, including insurance companies, to these shifts is potentially huge,” Mr Carney said. General insurers are the most directly exposed to such losses, he said.
“Potentially huge”? That puts it in the future and means it’s not happening yet. I thought we had been told that catastrophic climate change was already happening. So when is it supposed to begin? That would be good to know.
Hey dumb ass, did your boyfriend tell you to give your opinion on this topic so that you could say “potentially huge” and “catastrophic climate change” in the same sentence?
It certainly got your attention, didn’t it Sparky?
Mods, can you do something about this dumb-ass called Sparks. This creature is not adding anything to the debate.
Dangers reside where idiots reside.
I’m writing that important of topic advice down after I pull my pen from your cold lifeless scull… haha just kidding I’ll get my pen back whenever!
*off
Reblogged this on Public Secrets and commented:
The only “financial risk” is being bilked into bankruptcy by the Green Cult and its cronies.
It’s not a secret and when you grow up, we’ll still call you a “big dumb ass” you can still live in your dumb ass house and say what “financial risk” means to other dumb asses..
Mods. The more you let profanity rage on this site the more you lessen its uniqueness.
The insurance industry faces even higher risk if resources are wasted on reducing CO2 instead of strengthening infrastructure against the increase in fire, flood and famine … which may occur when the climate warms and cools, as it always does. (Compare light hurricane/cyclone damage to strengthened Australia vs heavy damage to The Phillippines.)
The problem is, the liberals are all ” HOT ” heads…..so of course they want the planet to cool ! they will not be satisfied until we are in the next LIA !!!! Then , of course , they will complain about the cold !!!!
What problem? Marcus you need to get out more, enjoy yourself, meet a girl, let her rip your heart out, have kids… commenting on here is out of your depth.
Sparks, your commentary has put a smile on my face. My favorite is: “Commenting on here is out of your depth.” Hilarious, and so true!
Sigh !!! After watching the news tonight about the chaos in the Middle East, I suddenly realized that none of this matters….Obama is pushing us to the brink of WW3 !!! Now THAT will cause some Glo.Bull Warming !!!!
Of course, as a Canadian with winter approaching, I kinda like the the idea of Glo.Bull Warming , so my opinion might be am little bias !!!! Se La Vie !!
I wish you had editing !!!! LOL
Is there anything CO2 cannot affect? Clear the North West Passage? Cause the Thames to freeze over? Wine into water?
Liberal intelligence into a non oxymoron ????
markl when CO2 cools it falls from the atmosphere, it’s a low lying gas, higher levels of CO2 falling from the atmosphere are being recorded at ground level observatories beside a volcano and all other measurements are calibrated around the planet to assure the correct measurement of “atmospheric CO2” is recorded… is there one thing in mind that you think CO2 has to do with “the North West Passage” or the “Thames”?
Sparks commented: ” is there one thing in mind that you think CO2 has to do with “the North West Passage” or the “Thames”?
Other than failed alarmist claims…..no.
Sparks,
You are so far off base you are not even wrong in your comments about CO2 in the atmosphere.
@sparks. Seriously?
>>when CO2 cools it falls from the
>>atmosphere, it’s a low lying gas.
Err, what??
Mods, can you do something about this dumb-ass. It would appear that someone left the play-pen open, and the escapee has found its parent’s computer. You might also want to call Social Services, before the infant finds the electric fire too. Erm …. on second thoughts hold the Social Services, the electric fire might solve our problem….. 😉
R
Brilliant Sparks!!
We’ve all learned something today.
This will, of course, allow chemists to develop a new process for refining individual gases by cooling a mixture of gases and waiting for specific gases to preferentially “fall” due to the fact that some gases are “low lying” gases.
You should slap a patent on this idea, before somebody else figures out that gases do not tend to natural diffuse into equally proportioned mixtures as formerly anticipated and predicted by the principles of physics.
Well done, for making this incredible discovery!!
We can also now all see why it is that you have come to assume that all responses to ordinary comments should be furnished with the words, “dumb ass”.
You have doubtlessly been the recipient of this form of address for quite some time.
P.S. There is only one small problem with your theory about CO2 being a “low lying” gas
It’s bollocks.
I shall helpfully provide you with a counter example (below). But please look up “gas diffusion”, “entropy”, “kinetic theory of gases” etc and then return in about 5 years when you have completed your basic education:
http://phys.org/news/2012-11-atmospheric-co2-space-junk.html
Too funny! The Bank of England….hummm…the bank that brought the world interest bearing debt over 300 years ago. The Bank that does not create wealth but instead creates debt. And now they want in on the carbon scare? That Bank? Riiiiiggggghhhhhhhttttttttt!
one way to end the suspense about when the asians will take over economic leadership of the world is for the west to hurry it along by committing economic suicide.
Dumb ass!
Mods, time for sparks to be grounded….
Can they commit any more economic suicide? The patient has no life signs now.
I was just going to say…