If there were no AGW, then the equation would look like this:
0 -2 = -2 (Natural cooling, unmitigated by any other factors, reduces the global temperature.)
Instead, we have this situation:
2 - 2 = 0 (The current situation, where the balance between AGW and natural cooling cancel each other. Temporary statis is achieved.)
And we can look forwards to this once the cooling cycle reverses:
2 + 2 = 4 (Where AGW and natural heating complement each other)
So, basically, the climate is doing pretty much what the experts said it would. Not just as the Hadley Centre (6) predicted last year, but as they said it would back in the 1980s. Expect to hear the scratching of denier-Ostriches burying their heads in the sand.
1 - As described previously on lefthandpalm: http://lefthandpalm.blogspot.com/2008/04/lurgees-paradigm-planet-isnt-warming.html
2 - "Global warming may 'stop', scientists predict," by Charles Clover in The Telegraph, 30th of April, 2008. (http://www.telegraph.co.uk/earth/main.jhtml?xml=/earth/2008/04/30/eaclimate130.xml)
3 - No, I'd never heard of it before, either.
4 - http://www.realclimate.org/
5 - 'Hansen’s 1988 projections,' by Gavin Schmidt, posted on Real Climate blog, 15th of May, 2007. (http://www.realclimate.org/index.php/archives/2007/05/hansens-1988-projections/)
6 - 'Ten-year climate model unveiled,' unattributed BBC article, 9th of August, 2007. (http://news.bbc.co.uk/1/hi/sci/tech/6939347.stm)