Tuesday, May 31, 2011

Worst Emissions Ever

Mankind is not heading in the right direction. The Guardian published an article entitled "Worst ever carbon emissions leave climate on the brink". The article starts with "Greenhouse gas emissions increased by a record amount last year, to the highest carbon output in history, putting hopes of holding global warming to safe levels all but out of reach". The recession has not helped either in reducing emissions. Kyoto, G8 meetings, political campaign promises, ... as one can see it is all just hot air, or shall I say "hot CO2 emissions".

Sunday, May 15, 2011

Inside Job

Inside Job is an extremely well made documentary from 2010 that won a series of awards for its content and quality. Interviews with the director Charles Ferguson are on YouTube. It explained the crisis that started showing its effects in 2008 exceptionally well. I loved how the documentary film started, the very first 30 seconds. "Iceland. Population 320,000 inhabitants. GDP $13 billion. Bank losses $100 billion." That first glimpse into the crisis explained it all too well. These 4 partial sentences drove the point home. It made us grasp the issue in a few seconds. 3 tiny local banks borrowed 120 billion dollars. 10 times the size of Iceland's economy. The accounting firm KPMG audited the banks and found nothing wrong. International rating agencies gave them a AAA credit rating. But that all changed in literally an instant. The house of cards collapsed. The full movie can also be found here. Watch it.