Trump, Debt & Global Threats

Discussion Leader's Argument:

Disclaimer

Three of the biggest issues facing Western democracies are:

ONE, attacks on free speech on our campuses and elsewhere (due primarily to the cancer of political correctness);

TWO, our political leaders continuing to ignore the dangers of our spiraling debt; and

THREE, uninformed climate alarmists who are damning the crop nutrient, carbon dioxide (without which life on Earth would not exist), as a pollutant and causing a fortune to be spent to address what I consider to be the scientific nonsense of climate change. The climate has changed since the Earth was formed 4.5 billion years ago and always will change and there is not a shred of scientific evidence that anthropogenic carbon dioxide (CO2) has any impact whatsoever on climate. Extraordinary claims require extraordinary proof and we are, therefore, honour bound to address the latter issue based upon Enlightenment Principles which direct us to be data driven and evidence based. If we throw those essential criteria under the bus, there is no Plan B. It is vital in the climate debate, if one could call it that, that we do not resile from fighting the abject neglect of scientific method and allow the very science which informs us to be sacrificed upon the altar of politics. As Oxford philosopher, Karl Popper, admonished us many years ago, a scientific hypothesis has to be falsifiable to be valid. I was comfortable with the hypothesis that anthropogenic CO2 caused global warming because the temperature and CO2 can both be measured and the concept is, therefore, falsifiable. And it has been falsified since global temperature has been stable for the last two decades despite anthropogenic CO2 going up by almost 15% in the troposphere to 400 ppmV. The alarmists then brought forward the concept of climate change which is a nonsense hypothesis since it cannot be falsified and is, therefore, meaningless.

On the other equally important issues of FREE SPEECH and EXCESSIVE INDEBTEDNESS; it is hard to imagine liberty and freedom without free speech which is a fundamental human right. We have to be able to say what we think without fear of censorship. Furthermore, it is also a fundamental concept in our society that money borrowed has to be returned. There are no free lunches and debt cannot be ignored as if it didn't exist. Unfortunately, our weak-kneed politicians are not exhibiting appropriate leadership by not confronting head on these major issues. Western politicians seem to be more interested in popularity polls, except where immigration is involved, and political correctness intervenes, than in showing moral courage and sound judgment. Everyone loses in a democracy with aimless and/or uninformed leadership. Finally, on the subject of climate change, let us ponder for an instant the concept of scientific consensus. In reality, the latter is an oxymoron since science has nothing to do with consensus but is about one person being correct with irrefutable and validated data, conducted without bias, and concomitantly verified by an uninvolved third party. Politics is about consensus but science is not; it is about one individual being proved right.

On the US PRESIDENTIAL ELECTION, I believe that Clinton is a corrupt, pathological liar whose husband runs a pay-to-play foundation which is breaking the law and yet the Foundation is not being prosecuted because the Federal system has been corrupted by Obama's bureaucratic appointments and the subsequent actions of these bureaucrats. In contrast, Trump is a vulgar, blowhard whose stand on free trade is ludicrous while some of his other ideas are also lacking in nous. Nevertheless, he is much better on Supreme Court nominees and tax reform. In fact, based upon Comey's FBI report she should eventually be spending time in Leavenworth. However I'm likely to vote for the Johnson/Weld ticket since my vote in the People's Republic of California is irrelevant. As has also been pointed out to me by the political cognoscenti, it is vital for voters in swing States (Wisconsin, Penn., Ohio, Florida, Virginia, etc.) to vote for Trump since none of his crazier policy ideas will get through Congress so gridlock will ensue, which is perfect for the electorate after 8 years of Obama. She, on the other hand, is toxic and corrupt and cannot be trusted under any circumstances.

Dr. Peter C. Farrell, Founder and Chairman of ResMed.

Please feel free to comment on any of the above, and we would value your responses in particular on the following questions:

1. Are Western democracies facing attacks on freedom of speech as political correctness goes too far?

2. Are Western democracies ignoring the dangers of spiralling debt?

3. Is anthropogenic climate change real?

4. Is populism crippling our political leaders?

5. Who is the best choice for US President - Clinton or Trump?

Relevant Articles:

http://www.newsweek.com/2016/06/03/college-campus-free-speech-thought-police-463536.html
http://www.economist.com/news/leaders/21699909-curbs-free-speech-are-growing-tighter-it- TIME -speak- OUT -under-attack
http://www.theatlantic.com/education/archive/2016/06/the-chilling-effect- OF -fear/486338/
http://www.wsj.com/articles/the-reasons-behind-the-obama-non-recovery-1474412963

Client Page Member Comments

Mahboob, Faisal
As AI rises and income inequality increases across the world, wealth will be more and more concentrated to those who own technological capital. We will see a stronger backlash against globalisation and the rise of populism and nationalism. Let's hope we do not see the rise of political leaders who exploit that.
Executive Director (Investment Banking Client Page Member)
Glad I'm not registered to vote - couldn't honestly vote for either of these candidates. The choice facing voters in the US is a sad reflection on the democratic system. Political correctness has a lot to answer for the rise of Trump.
QUIN, Andrew
Well done Peter Farrell it is actually amazing to see someone with the guts to write the truth! Be careful though, remember, "The further a society drifts from the truth the more it will hate those who speak it." "In a time of universal deceit - telling the truth is a revolutionary act." George Orwell.
Chairman (Investment Banking Client Page Member)
I concur with Peter Farrell's comments particularly this annoying political correctness, climate change mania and the debt over-hang! Also, two seriously flawed candidates are running for the office that leads the 'free world'; heaven help us! After Obama's 'lead from behind' approach, domestically and internationally, has left the world in worst shape! In western liberal democracies 'popularism' prevails over rational policy and the middle class are disenfranchised from the political elite. I despair that anyone would consider relaxing gun control to get support for legislation and that talk back jocks can bring one of our better Premiers to heal! This reflects the lack of visionary and clear thinking leadership! Trevor C. Rowe AO
Principal (Institutional Client Page Member)
"Very hard to call the winner, but very clear that the American people are the losers" Channel 9 tweet during their 3rd Presidential debate 20 Oct 2016

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