NASA Proves Global Warming Alarmists Wrong, Choose What to Cut, and Geithner Once Again Shows his Allegiance to the Banks

I never really like addressing the topic of global warming.  I constantly hear arguments back and forth stipulating each side.  The evidence for each side seemed too muddled to be conclusive either way.  I have very little knowledge on the topic and have always reasoned that if global warming is a problem, than free market-driven innovation is better equipped to handle it rather than government mandates.  Even so, it looks like all the big government environmentalists may be in for a surprise from this report:

NASA has released a new study that may prove global-warming alarmists have been wrong all along.

Data from NASA's Terra satellite covering the period 2000 through 2011 shows that when the earth's climate heats up, the atmosphere appears to be better able to channel the heat to outer space.

The satellite data call into question the computer models favored by global warming believers and may put to rest controversy over the discrepancy between the computer models and actual meteorological readings.

Co-author of the study, Dr. Roy Spencer of the University of Alabama's Earth System Science Center, said in a press release, "The satellite observations suggest there is much more energy lost to space during and after warming than the climate models show. There is a huge discrepancy between the data and the forecasts that is especially big over the oceans." 

Ha!  Though I am skeptical of the scandalous nature of the infamous Climategate findings, the fact that NASA put this report out is just great.  Don't get me wrong, emissions aren't something that should be encouraged (though they are currently necessary to sustain our standard of living), but this new NASA report seems to show the issue isn't as urgent as Al Gore would like everyone to believe.

As the debt ceiling side show continues into tonight, the Washington Post has this neat interactive graph where you can choose how to prioritize federal government payments for the month of August if the ceiling is not raised.  Basically you are given $172.4 billion and have to choose what to fund from the $306 billion bill.
Choices include such things as entitlement program spending, payments on Treasury debt, Defense Department funding, and various other federal agencies.  I chose not to pay for anything, garnering a savings of $172.4 billion.  Even if you choose Medicare/Medicaid/Social Security, you still get a $73.2 billion surplus.  What did you choose?

Though the Post's graph is make believe, it looks like Geithner has already made the decision for everyone:

The U.S. Treasury will give priority to making interest payments to holders of government bonds when due if lawmakers fail to reach an agreement to raise the debt ceiling, according to an administration official.

Like TARP, Geithner chooses the banks and idiotic creditors of the U.S. over grandma.  Of course even grandma may be vested indirectly in the federal government, but that is beside the point.  Shorting creditors would send the perfect signal to investors to stray away from lending money to the U.S. government. Of course the inability for the federal government to borrow would spur Bernanke to crank the printing press up, but massive inflation creates more opposition to unsustainable spending than taking out another Visa to pay back the past Visa, MasterCard, American Express, or loan sharks.

I will end with pointing out this interesting graph on foreign investment in the United States:

Remember, Florida, Arizona, and Nevada were ground zero for the housing bubble.

Update- Wow, check out this awesome interview of Hayek in Gold and Silver Newsletter.  Hayek explains how he predicted the inflationary boom of the 20's lead to the Depression, why Keynes was ready to denounce his own theories because of their ultimate goal of totalitarianism, and his accurate prediction that inflation would grip the late 1970's.  The interview is highly recommended.

I also can't go without pointing out this crudely ironic New York Post article title:

Raging Boehner

Bullies GOP to back debt plan