Michael McAteer Profile picture
Jul 14 5 tweets 1 min read Read on X
Says Google AI: "Recent data indicates that the tropical Pacific has warmed up, ending the recent La Niña event. This has transitioned the region into a neutral state according to Climate Prediction Center." La Niña brings a surplus of precipitation to the plains of the northern
...hemisphere, and indeed its appearance last year saved a number of Saskatchewan farmers from bankruptcy. We've had lots of the expected rain in Saskatoon this summer, but wildfires have gotten worse nonetheless. Soon we will be into the drought ridden El Niño cycle. What then?
Global warming is overwhelming the effects of the ENSO weather cycles and the Boreal is burning. How long will it be before Saskatoon becomes unlivable? We've had over 40 years to consider the consequences of anthropogenic climate change, but have not taken responsibility.
Climate change deniers propagandized by the oil and gas industry have done us in. The governments of Alberta and Saskatchewan have been taken over by the frontier extractors are mounting a rear-guard action to protect profits.
The bottom line is this: The very notion of expanding oil and gas production without a commensurate reduction in carbon emissions is insane. Scott Moe's refusal to stop burning coal to produce electricity is criminal. #skpoli

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More from @Monetarius

Jul 1
"The NYT included the illustrative figure below, which draws simple ordinary least squares trends over three time periods: 1880-1970, 1970-2010, and 2010-present (May 2025).
It appears to show a notable acceleration over the past 15 years compared to the rate of warming that characterized the post-1970 “modern warm period” when climate change began to notably take off (with) human emissions of CO2 and other greenhouse gases." open.substack.com/pub/theclimate…Image
The brief interlude of La Niña last summer brought more rain to the plains which is typical, and certainly here in Saskatoon we've seen enough rain this summer, but we know how quickly a blistering sun can dry things out, and a return to droughts of El Niño could be disastrous.
Read 5 tweets
Jun 26
"At Bretton Woods, John Maynard Keynes proposed a system where both surplus and deficit countries would share responsibility for balancing trade, rather than placing the entire burden on deficit countries.
📷
He advocated for a global central bank, the Clearing Union, which would issue a new international currency, the "bancor," to settle imbalances.
Countries with surpluses would be encouraged to spend more or invest in deficit countries, while deficit countries would be encouraged to reduce their deficits through currency devaluation and trade restrictions."
Read 9 tweets
Jun 13
There is opportunity in the crisis. Canadian automobile manufacturing has been declining for over a decade and Trump has sealed its fate, however the Canadian automobile parts industry has conversely expanded and is embedded in North American supply chains.
BYD is now the world's most prolific manufacturer of EVs. Their base model sells for less than the equivalent of $10,000 US.
This low price price is achievable with significant subsidies from the Chinese government and even BYD's president recently stated that these prices are not sustainable.
Read 7 tweets
Jun 12
How large should Canada's population be? In the end it is a policy decision about immigration given the country's decline fertility.
"To illustrate the power of migration and immigration policy in shaping population, consider two extreme scenarios. The first highlights the consequences of low fertility for population change when immigration is imagined to be zero.
In this scenario, Canada’s total fertility rate continues its downward trajectory and drops to 1.0—the 2023 fertility rate in British Columbia, the lowest of all provinces—while net migration (both temporary and permanent) falls to zero.
Read 11 tweets
May 10
All revolutionaries have an eschatological bent — that their beginning necessitates the end of the order that precedes them. It was so with the Bolsheviks who understood any action they took was justified to realize their aims.
They adhered to Marx's notion that capitalism had to end by virtue of its internal contradictions that he had artfully calculated in his masterwork Capital.
When Joseph Stalin seized power, he commissioned a renowned Russian economist named Nicolai Kondratiev to study capitalist economies to determine when they will end.
Read 10 tweets
May 7
Economist Michael Pettis was alert to the problems of the global trading order when countries, in particular China and Germany, followed mercantilist "beggar thy neighbour" trade policies.
John Maynard Keynes, however was an oracle. In 1943 at Bretton Woods he anticipated the problem and proposed prophylactic solutions. One was to create an international currency to gird global trade.
The American contingent at the conference outvoted him and elected the American dollar to serve that purpose. Keynes also suggested that trade balances could be restored by the surplus carrying countries if they invested in manufacturing in their trade partners' countries.
Read 9 tweets

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