US wholesale inflation eases in the fourth straight decline
*Data came in lower than expected, making it more likely that the US Fed will make smaller interest rate hikes.*The figures came in lower than economists expected and make it more likely that the US Federal Reserve will increase its benchmark interest rate in smaller increments. It has hiked its short-term rate by three-quarters of a point for four meetings in a row, but economists now increasingly foresee an increase of a half point at its December meeting. “The improvement in the October in...
US wholesale inflation eases in the fourth straight decline
*Data came in lower than expected, making it more likely that the US Fed will make smaller interest rate hikes.*The figures came in lower than economists expected and make it more likely that the US Federal Reserve will increase its benchmark interest rate in smaller increments. It has hiked its short-term rate by three-quarters of a point for four meetings in a row, but economists now increasingly foresee an increase of a half point at its December meeting. “The improvement in the October in...
Climate Models Can Never Work, Says Computer Modeller
If you cannot make a model to predict the outcome of the next draw from a lottery ball machine, you are unable to make a model to predict the future of the climate, suggests former computer modeller Greg Chapman, in a recent essay in Quadrant. Chapman holds a PhD in physics and notes that the climate system is chaotic, which means “any model will be a poor predictor of the future”. A lottery ball machine, he observes, “is a comparatively much simpler and smaller interacting system”. Most clim...
Climate Models Can Never Work, Says Computer Modeller
If you cannot make a model to predict the outcome of the next draw from a lottery ball machine, you are unable to make a model to predict the future of the climate, suggests former computer modeller Greg Chapman, in a recent essay in Quadrant. Chapman holds a PhD in physics and notes that the climate system is chaotic, which means “any model will be a poor predictor of the future”. A lottery ball machine, he observes, “is a comparatively much simpler and smaller interacting system”. Most clim...
