Tag Archives: prediction

‘Unimaginably Catastrophic’: Researchers Fear Gulf Stream System Could Collapse

Above: Gulf Stream Sea Surface Currents & Temperatures / Photo / NASA

“Scientists say we cannot allow this to happen. People in power stand in our way.”

Originally published on Common Dreams via Creative Commons

While heatwaves, fires, and floods produce warnings that “we are living in a climate emergency, here and now,” a scientific study suggested Thursday that a crucial Atlantic Ocean current system could collapse, which “would have severe impacts on the global climate system.”

“The likelihood of this extremely high-impact event happening increases with every gram of CO2 that we put into the atmosphere.”
—Niklas Boers, PIK

The study, published in the journal Nature Climate Change, focuses on the Atlantic Meridional Overturning Circulation (AMOC), which includes the Gulf Stream. As the United Kingdom’s Met Office explains, it is “a large system of ocean currents that carry warm water from the tropics northwards into the North Atlantic,” like a conveyor belt.

Previous research has shown AMOC weakening in recent centuries. The author of the new study, Niklas Boers of the Potsdam Institute of Climate Impact Research (PIK), found that this is likely related to a loss of stability.

“The Atlantic Meridional Overturning is one of our planet’s key circulation systems,” Boers, who is also affiliated with universities in the U.K. and Germany, said in a statement.

“We already know from some computer simulations and from data from Earth’s past, so-called paleoclimate proxy records, that the AMOC can exhibit—in addition to the currently attained strong mode—an alternative, substantially weaker mode of operation,” he continued. “This bi-stability implies that abrupt transitions between the two circulation modes are in principle possible.”

In the absence of long-term data on the current system’s strength, Boers looked at its “fingerprints,” sea-surface temperature and salinity patterns. He said that “a detailed analysis of these fingerprints in eight independent indices now suggests that the AMOC weakening during the last century is indeed likely to be associated with a loss of stability.”

“The findings support the assessment that the AMOC decline is not just a fluctuation or a linear response to increasing temperatures,” he continued, “but likely means the approaching of a critical threshold beyond which the circulation system could collapse.”

As The Guardian‘s Damian Carrington reports, the collapse of “one of the planet’s main potential tipping points” would be devastating on a global scale:

Such an event would have catastrophic consequences around the world, severely disrupting the rains that billions of people depend on for food in India, South America, and West Africa; increasing storms and lowering temperatures in Europe; and pushing up the sea level in the eastern U.S. It would also further endanger the Amazon rainforest and Antarctic ice sheets.

The complexity of the AMOC system and uncertainty over levels of future global heating make it impossible to forecast the date of any collapse for now. It could be within a decade or two, or several centuries away. But the colossal impact it would have means it must never be allowed to happen, the scientists said.

“The signs of destabilization being visible already is something that I wouldn’t have expected and that I find scary,” Boers told the newspaper. “It’s something you just can’t [allow to] happen.”

It is unclear what level of global heating would cause a collapse, “so the only thing to do is keep emissions as low as possible,” he added. “The likelihood of this extremely high-impact event happening increases with every gram of CO2 that we put into the atmosphere.”

Some climate action advocates responded to the study by highlighting a science fiction movie that, as famed film critic Roger Ebert wrote nearly two decades ago, “is ridiculous, yes, but sublimely ridiculous—and the special effects are stupendous.”

“We all laughed at The Day After Tomorrow, back in 2004,” said Guy Shrubsole, policy and campaigns coordinator at Rewilding Britain. “Turned out it was a documentary.”

The environmental advocacy group 350 Tacoma responded to the findings with a call to action.

“There are warning signs that the Gulf Stream could collapse, an unimaginably catastrophic (and irreversible) impact of fossil fuel-caused climate breakdown,” the group tweeted. “Scientists say we cannot allow this to happen. People in power stand in our way.”

The study comes ahead of a United Nations climate summit in Glasgow set to begin October 31. Last month, U.N. Secretary-General António Guterres noted the upcoming event and reminded leaders of wealthy countries that “the world urgently needs a clear and unambiguous commitment to the 1.5-degree goal of the Paris agreement,” and “we are way off track.”


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Stock Market Outlook 2019

Consensus Views Or Contrary Swans

Funny thing about consensus vs. contrary views – they are often identical if you believe what you read. “Wall of worry” and “Slope of Hope”: it’s all irrelevant if you are wearing blinders and have no mooring, or any basis for what the facts are.

Add to all that the fact that most opinions are paid advertisements, mainly for sell-side firms, and it’s tough to wade through the B.S. As per usual, according to a survey from CNBC, the S&P 500 will reach 3000 by the end of 2019.

According to my own non-scientific survey this is the 20th consecutive year that such surveys predict a gain in the market. A prediction for the coming or current year is almost always positive. The negative predictions are saved for “next year” (in other words later in 2020 as seen from in early 2019). Then, of course, the predictions change, and turn positive, just before the year turns.

Such nonsense goes even deeper while pundits and hacks will cite “pervasive pessimism” in the face of almost total bullishness to claim to have a “contrary” view while in reality herding like Spanish bulls in springtime.

“It’s tough to make predictions, especially about the future”

Yogi Berra

Using actual data such as the Put-Call Ratio, VIX, AAII Sentiment Survey, or, for example, levels of margin debt and mutual fund money flows, can at least give a picture of the state against which one intends to be contrary.


Then, once in a while, in full-on Black Swan fashion, the prevailing “wisdom” blows up and everyone declares shock that such a thing could happen. A recent example of this was the disastrous collapse of the “short vol” trade in February of 2018.

A one-eyed man in the land of the blind can see a bit more than the rest. A first step is to be aware of the hype and see past the herd. In the last 100 years, Bull markets have tended to last longer than Bear markets (which move faster) and that alone leads to a bias toward a false idea that investing in stocks can lead to a steady, constant gain profile.

To sum up our outlook for 2019 in terms of end of year projections, the word “grim” comes to mind. Bear Markets follow Bull Markets, Raising Rates pop bubbles, the 2008 excess was never dealt with, and on and on and on. Clearly, the most bullish possible prediction anyone looking at facts could possibly make is that the next down phase in the market might come a bit later (2020 anyone?) rather than sooner.

Naturally, that is exactly what the “pessimistic” pundits are predicting. Far from pessimistic in reality, this is the most wildly optimistic, bullish possible take on the current juncture imaginable. Perfect for the true contrarian outlook which points toward a real Bear Market, sooner rather than later.

This is not to say that it looks like all gloom and doom for the coming year(s). There are exciting changes afoot, particularly in media and digital communication, and, as with all times of great change, the aftermath of the coming storm points toward a cleansing and realignment of world economies and cultures. Bring it on…….


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