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Which Way Wednesday – Testing Nasdaq 16,000 From Above

Two planets are talking to each other. One looks like a beautiful blue marble and the other a dirty brown ball.

“What on earth happened to you?” the beautiful planet asks the brown one.

“I had Homo sapiens,” answers the brown planet.

“Don’t worry,” says the blue planet. “They don’t last long.”

Delegates and media watching Prime Minister Boris Johnson of Britain during his opening speech of COP26 summit, in Glasgow, Scotland.That's a joke from the climate summit in Glasgow where, as noted by Thomas Friedman, the mood is generally dire.  

The evidence on Climate Change was overwhelming when we signed the Paris Climate Accords in 2012 and even more so when Trump and his ilk tore up those accords in 2017 and now, on the cusp of 2022, the evidience that this planet is heading for a horrific crisis is incontravertable and there are no more deniers – just blamers.  

What there are still not is fixers – no one is doing enough to address this crisis and it's gotten to the point where you have to consider that it's too late to stop the Global Warming that will have catastrophic effects on our environment so perhaps the money is better spent moving the human race underground or something – to hopefully live out the damage in a cooler environment.  Why waste money preventing a catastrophe we can no longer avoid, right?  

"When you see how hard it’s been for governments to get their citizens to just put on a mask in stores, or to get vaccinated, to protect themselves, their neighbors and their grandparents from being harmed or killed by Covid-19, how in the world are we going to get big majorities to work together globally and make the lifestyle sacrifices needed to dampen the increasingly destructive effects of global warming — for which there are treatments but no vaccine?" – Friedman

The United Nations climate agency on Wednesday released a draft of an accord that urges countries to “revisit and strengthen” in the next year their plans for cutting planet-warming greenhouse gas emissions.  The document marks an initial agreement among some 200 nations that will be used as a template to strike a deal as the two-week global climate summit in Glasgow nears its end Friday.

What evidence exists that Earth is warming and that humans are the main  cause? | NOAA Climate.gov

Lack of firm deadlines and enforcement mechanisms in the document pointed to the hurdles ahead as negotiators try to reach a consensus at the summit known as COP26, where a primary goal is to agree on stronger action to keep the average global temperature rise to 1.5 degrees Celsius (2.7 degrees Fahrenheit), compared to preindustrial levels.  Beyond that threshold, scientists say, the likelihood significantly increases of deadly heat waves, droughts, wildfires, floods and species extinction. The planet has already warmed by 1.1 degrees Celsius – doubling since 2000.

"Too little, too late" say the protestors at the summit.  On Tuesday, United Nations researchers released a report that found that under countries’ current pledges to reduce emissions, the Earth is on track to warm about 2.5 degrees Celsius (4.5 degrees Fahrenheit), a full degree beyond the goal outlined in the draft.  UN Secretary General Guterres said that the world was “careening towards climate catastrophe.”

I wonder what's on TV this evening…

That's right, most of us are going to read this and go back to our daily lives.  There was a poll that said 2/3 of the people in the US think Global Warming is a major crisis that needs to be addressed but the same poll asked them if they would contribute $100 to fight global warming and they said "NO!"  So we are asking our politicians to fix the problem – with whatever they can find at the Dolllar Store….

We all have to change the way we live if we want this to work.  Take meat-eating. Animal agriculture, especially cattle production, is among the largest sources of greenhouse gas emissions. Even if all the fossil fuel executives were held guilty of fraud and negligence tomorrow and their companies’ profits poured into a sweeping energy transition, we would still need to shift away from meat-heavy diets. “If we don’t reduce emissions from agriculture, we’re not going to be able to hit climate targets even if we get it exactly right on fossil fuels,” a policy expert from the World Resources Institute recently told The Washington Post.

10. Ethics – Introduction to Climate ScienceOther changes that will eventually be required to balance human appetites against the health of the planet may be even tougher. Taking the bus or train can be a pain – especially vs flying on trips under 500 miles – but we need to do that.. Skipping beach vacations for climate reasons? That can feel like a real sacrifice (first-world problem though it is). Having one fewer child? For many people, that’s taking things too far – but China enforced it for years.  

Not adding 2Bn people more consumers to the planet over the next 50 years would go a long way to helping the climate situation.  There were 1Bn of us humans on the planet in 1800, 2Bn in 1900, 2.5Bn in 1960 but then we stopped killing each other for a bit and suddenly 8Bn people in 2021.  Population growth seems to be slowing but we're still on pace for way too many people (we already have way too many) in just 28 more years – WAY too many….

2019 revision – world population growth 1700 2100

Something is going to break.  Either the economy as we try to address these problems or the planet if we don't.  At the moment, most people are choosing to let the planet take the fall while they keep making money in the last days of Rome – smart….

 


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  1. Good morning 


  2. Well… it's a morning. Good might be a stretch.

    Friends and I were discussing the challenge and honestly getting people to take 1 holiday instead of 3 was met with horror. 
     




  3. How NFTs Create Value


  4. Always good sun shining blue sky, first glass of Rioja at 3.30pm


  5. Good Morning.


  6. …and, Good Afternoon  :)


  7. Good(ish) morning! 

    Cutting back/Malsg – It's very hard to see a solution for all this.  Have to reverse a lot of bad behavior.

       

    I'm short 2 oil at the moment:

        

    Wow:

     






  8. Not only are they two monopolies, but they are joining forces!

    • Microsoft (MSFT -0.8%) is putting its Teams into Meta Platforms' (FB -1%) Workplace product in a new integration deal between the two tech giants.
    • Facebook Workplace – now being called Workplace by Meta – will soon integrate Microsoft Teams for live-streaming video into Workplace groups, and it will allow employees using Teams or Workplace to view and react to meetings in real time without having to switch between the apps.
    • Correspondingly, that means Microsoft is integrating Meta's Workplace into Teams, where the app will be pinned to navigation and offer a homepage of Workplace content.
    • It's an extension of a partnership where the companies already integrate Workplace into Microsoft's SharePoint, OneDrive, and Office 365 suite, as well as into Microsoft's Azure Active Directory.
    • Meanwhile, Teams will also arrive on the Meta/Facebook Portal device in December, allowing people to use the video-chat hardware for video calling in Teams.
    • The content integration goes live today, The Verge notes, while live-streaming Teams meetings into Workplace will happen in early 2022.

    Nov. 10, 2021 10:09 AM ET

    • November Atlanta Fed Business Inflation Expectations: +3.3% vs. +3.1% in October.
    • Current economic environment: Sales levels "compared to normal" remain unchanged. However, profit margins increased slightly. Year-over-year unit cost growth is relatively unchanged at 3.6 percent, on average.

    Nov. 10, 2021 10:01 AM ET1 Comment

    • September Wholesale Inventories+1.4% to $742.2B vs. +1.0% consensus, +1.2% in August.
    • Total inventories were up 13.% from the revised September 2020 level.
    • September 2021 sales of merchant wholesalers, except manufacturers' sales branches and offices, were $603.1B, up 1.1% from the revised August level and up 22% from the revised September 2020 level.
    • Earlier, Inflation rises to 6.2% in October; core consumer prices up 4.6%

    WMT -0.42%Nov. 10, 2021 9:59 AM ET

    • Evercore ISI issues a negative trading call on Walmart (WMT -0.5%) ahead of the retailer giant's earnings report next week in an indication that the firm expects downward pressures on shares.
    • Analyst Greg Melich and team expect Q3 earnings will be good, but think Walmart may stand pat on its prior guidance due to increased margin headwinds and macro risks. That would mean that Q4 expectations would fall below the consensus marks, which could give WMT shares a downward jolt.
    • Per Seeking Alpha's tracking, the last 25 EPS revisions on Walmart have been for higher profits, indicating that reiterated guidance (not raised) from Bentonville could be a disappointment.

    UAL -0.83%Nov. 10, 2021 9:55 AM ET3 Comments

    • United Airlines CEO Scott Kirby said Wednesday that he was "glad" the company made the early decision to impose a vaccine mandate on its employees because it has allowed them to get past the controversy quickly
    • In an interview with Bloomberg TV, the head of the United (NASDAQ:UAL) added that he is "confident for the holidays" and expects business travel "to come back 100%" over time.
    • Discussing the company's recovery from the pandemic, Kirby described the process as coming through "the Valley of Death" but now he sees "recovery staring us firmly in the face."
    • Kirby said the firm was well-positioned for a surge in demand because it handled the post-COVID ramp up differently than many airlines.
    • He noted that the firm took a more measured approach to its return, not trying to rush back to 100% capacity.
    • The United CEO also pointed to decisions made during the pandemic. For instance, he spotlighted a deal made with its pilots that kept them in place even at reduced workloads during the COVID restrictions.
    • On the vaccine mandate, Kirby reported that the company reached 99.7% compliance and that achieving that vaccination level has become a "point of pride" within the company.
    • Kirby added that the decision to impose the mandate was made for safety reasons, especially since the company represented a global airline that would frequently fly into COVID hotspots around the world.
    • Dear readers: We recognize that politics often intersect with the financial news of the day, so we invite you to click here to join the separate political discussion.

    VIAC +1.10%Nov. 10, 2021 9:13 AM ET4 Comments

    • ViacomCBS (VIACVIACA) and Twitter (NYSE:TWTR) have a new multi-year deal covering digital content to be delivered around the former's hit shows and live events.
    • Financial terms weren't disclosed.
    • ViacomCBS programs will receive marketing support and brand sponsorship sales rights through Twitter's Amplify program, and the entertainment company will tap Twitter marketing features ranging from live video and real-time highlights to Twitter Moments.
    • "Twitter is the digital water cooler for trending topics and fandom worldwide, and we're excited to provide front-row access to innovative digital content experiences and culture-defining moments across the best of entertainment, news and sports for Twitter users everywhere," says Andrea Wolinetz of ViacomCBS.

    Yay!!!!

    That's way off API's 2.5Mb draw.  That's why you can't trust API.

    On the net, it's a draw of over 3Mb so we'll take the quick profits and be happy.




  9. Good morning. Here is the link to today's webinar.

    https://attendee.gotowebinar.com/register/6575327343173449741



  10. here sticky sticky!!


  11. Not too much of a stick.  Weak day.  

    Didn't trigger my /ES stops so far.