And we got so overheated in the chase that we had to take off that fur coat and throw it away.

So, maybe the word overheated is misleading. It might be more accurate to say that public attention is over focused on some recent price changes, or over accepting of some high market values.

In this bracing talk, coral reef ecologist Jeremy Jackson lays out the shocking state of the ocean today overfished, overheated, polluted, with indicators that things will get much worse. Astonishing photos and stats make the case.

The challenge is not simply to increase investment, but also to ensure that it is sustainable, unlike before the crisis, when excessive allocation of capital to real estate development caused construction and related sectors to become overheated. This time around, investment must be spread across all sectors, boosting their competitiveness and, in turn, their contribution to GDP growth.

NEW HAVEN In recent months, concern has intensified among the world s financial experts and news media that overheated asset markets real estate, equities, and long term bonds could lead to a major correction and another economic crisis. The general public seems unbothered Google Trends shows some pickup in the search term stock market bubble, but it is not at its peak 2007 levels, and housing bubble searches are relatively infrequent.

Similarly, although the 2006 European heat wave was less intense, water and heat problems forced Germany, Spain, and France to take some nuclear power plants offline and reduce operations at others. Highlighting the vulnerability of nuclear power to environmental change or extreme weather patterns, in 2006 plant operators in Western Europe also secured exemptions from regulations that would have prevented them from discharging overheated water into natural ecosystems, affecting fisheries.

So the most important way to control inflation while regaining the monetary and credit policy autonomy needed to control inflation is to allow currencies in these economies to appreciate significantly. Unfortunately, the need for currency appreciation and monetary tightening in overheated emerging markets comes at a time when the housing bust, credit crunch, and high oil prices are leading to a sharp slowdown in advanced economies and outright recession in some of them.

But what I'm saying is, you can be delighted, because the editor of Science, who is no dummy, and both of these fairly professional really professional teams, have really come to the same conclusion and in the bottom lines in their papers they have to say, what this means is, that what we've been thinking, was the global circulation model that we predict that the earth is going to get overheated that it's all wrong. It's wrong by a large factor.