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HOT WEATHER COULD FURTHER CHILL ECONOMY, SAY EXPERTS: Is This The Start of a New “Dust Bowl?”
Hot Tips on Protecting Your Nest Egg from Coming Heatwaves
Is This Record-Breaking Heat Natural? Or an Omen?
The devastating dry heatwave that in recent weeks has scorched America from Illinois to Washington, D.C., will burn the whole nation for months to come through higher prices for many things, including breakfast cereal, meat and corn-ethanol blended gasoline, warn two economic experts.
“This hefty price inflation is one more straw now threatening to break the economic back of America's stressed middle class,” say Craig R. Smith and Lowell Ponte, co-authors of the widely praised recent book “The Inflation Deception: Six Ways Government Tricks Us...And Seven Ways to Stop It!”
“By reducing America's corn crop, this dry heatwave will push up prices here and abroad, further reduce Americans' disposable income, and give the politicians and Federal Reserve more incentive to print money out of thin air. This will make the U.S. Dollar worth less and further weaken our economy,” says Smith, a longtime monetary expert.
“Former Vice President Al Gore has said the heatwave is a symptom of warming global climate. I disagree,” says Ponte, the author of a renowned non-fiction book about climate titled “The Cooling” and the former Roving Science Editor for Reader's Digest Magazine.
Both CRAIG SMITH and LOWELL PONTE are available to be your Talk Show interview guests on this topic.
“Climate is defined by a 30-year averaging of weather patterns, not one storm, one season, or even years of hot or cold, wet or dry,” says Ponte.
“And while record heat has scorched part of the United States, the beaches of Southern California have been unusually cool,” says Ponte, “and England has been much cooler than normal and experienced what the London Express called 'the wettest June since records began.'”
“This is happening because the world-circling Jet Stream winds are dipping or rising farther south or north than usual, and this is redistributing extremes of weather. This could be caused by many things, not just climate, including changes in the output of our Sun,” says Ponte.
“What frightens me,” says Ponte, “is that we appear to be leaving the unusually balmy weather patterns of most of the 20th Century. We are returning to Earth's more normal, more erratic weather. Oregon Trail pioneers of the 1840s and 1850s called Kansas and Nebraska America's “inland desert.”
“We plowed these lands into a Dust Bowl in the 1920s and 1930s, then made them a bread basket for the world by draining limited fossil irrigation water from underground aquifers as America's weather got wetter. But now we are breaking weather records for heat and drought set in the 1930s.”
“We might be seeing the first signs of a new Dust Bowl, and the return of the Inland Desert in America's heartland,” warns Ponte. “This would devastate America's economy.”
“Or we might be seeing another kind of omen,” says Ponte. “The current heatwave began with what weather scientists call a 'Derecho,' a blast of hot air that blew at near-hurricane speed from Chicago to Washington, D.C., cutting off power to Americans as it went.”
“Come to think of it, this also describes President Barack Obama,” laughs Ponte. “And what do we make of this Spanish word 'Derecho,' said to mean 'straight' but from the same root origin as 'Derecha,' the Spanish word for 'right' – as in human rights, righteousness, and the opposite of left?”
“To ancient peoples such a change in weather, devastating crops, causing vast damage, would have been seen as an ill omen,” says Ponte. “In ancient China this would have shown that the Emperor had lost what they called 'the Mandate of Heaven,' that the heavens had withdrawn their support for his rule.”
“Since this storm emerged just as the Supreme Court upheld Obamacare, we have to wonder if this is a sign that President Obama has lost the Mandate of Heaven, if the heavens themselves have turned against him.”
Craig R. Smith and Lowell Ponte are available for interviews about what a change of weather or climate might do to America's economy. Craig is an expert in how people can adjust their investments to hedge against such risks.
Lowell is able, in addition to economics, to discuss weather and climate, how different these were as little as a century ago, why the Dust Bowl happened and might return, climate lore such as the “Mandate of Heaven,” etc.
This article may help with show prep: Worst U.S. drought since Reagan was president is withering the world’s largest corn crop, and the speed of the damage may spur the government to make a record cut in its July estimate for domestic inventories: http://bloom.bg/N9SPgu
Jason Samenow, “Derecho: Behind Washington, D.C.'s Destructive Thunderstorm Outbreak, June 29, 2012,” Washington Post, June 29, 2012. URL:
“Dozens of Deaths Tied to Heat Wave Over Last 2 Weeks,” MSNBC, July 6, 2012. URL:
Amy Hubbard, “Heat Wave: Midwest Plain 'Out of Whack' as Records Shatter,” Los Angeles Times, July 6, 2012. URL: http://www.latimes.com/news/nation/nationnow/la-na-nn-midwest-heat-relief-20120706,0,5668282.story
Sarah Westcott, “It Will Rain 'Til September,” The Express (United Kingdom), July 6, 2012.
SUGGESTED INTERVIEW QUESTIONS:
1. The recent storm and heatwave scorched the country, especially the Mid-Atlantic region. What caused this? And will it happen again?
2. The heatwave is easing, but it also burned our wallets – and you say we'll be feeling this heat months, and even years, from today. How?
3. In what other ways will this heatwave chill our economy and disposable income?
4. You say this could be the straw that threatens to break the economic back of America's stressed middle class. How so?
5. So is this a symptom of global warming, as former Vice President Al Gore says?
6. You also say that ancient peoples would have taken the recent hot storm and swarms of tornadoes as omens, as signs that America's leaders might have lost “the Mandate of Heaven.” Please explain this.
7. Lowell, has America's climate always been as it is now....altered only today by manmade pollution? Or was our climate different a century or two ago?
8. Lowell, you've written in Reader's Digest and in your climate book The Cooling about the Great Blizzard of 1888 that piled snow 30 feet deep onto New York City. Why did this happen? What was the “Little Ice Age?”
9. Lowell, you've written that America has more violent weather than any other major nation. Why, and what does this mean?
10. Do you have some hot tips on how to protect our loved ones and family nest egg from coming heatwaves?
ABOUT LOWELL PONTE…
Lowell Ponte (PON-tee) is a former think tank futurist and was an editor Reader's Digest Magazine for many years during its heyday when it was one of the most widely read publications in the world. Lowell is co-author with of The Inflation Deception: 6 Ways Government Tricks Us… and 7 Ways to Stop It! (2011), and Crashing The Dollar: How to Survive a Global Currency Collapse (2010). Ponte’s articles have appeared in The Wall Street Journal, The New York Times, and many other publications. He is currently a columnist at Newsmax.com. Lowell has been a guest on "The Today Show," "Good Morning America," "David Letterman" and other programs.
Lowell has also been an aide in the California legislature, a reporter in Washington, D.C., a foreign correspondent reporting from 33 countries, co-partner in a successful Hollywood public relations firm, and a radio talk show host.
ABOUT CRAIG SMITH…
“The Face of American Small Business”
Craig R. Smith is an author, commentator and popular media guest because he instantly engages audiences with his common-sense analyses of local, national and global trends.
The Founder and Chairman of Swiss America Trading Corporation, Craig for 30 years has helped many thousands of people hedge against the problems of a weakening U.S. Dollar.
A monetary expert, Craig is the author of numerous books and articles including The Inflation Deception: Six Ways Government Tricks Us...and Seven Ways to Stop It! (June 2011), and Crashing The Dollar: How to Survive a Global Currency Collapse (2010).
Craig is also author of The Uses of Inflation: Monetary Policy and Governance in the 21st Century, a major White Paper published in February 2011. Recent media clips: www.craigsmith.com
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