My submission on Crown deposit insurance for finance company Ponzi schemes
21 Feb 2022 Leave a comment
in global financial crisis (GFC), macroeconomics, monetary economics
Misleading?
21 Feb 2022 Leave a comment
Back in mid-December, the Reserve Bank fronted up to Parliament’s Finance and Expenditure Committee for the Annual Review hearing on the Bank. I wrote about it here. You may recall that this was the appearance where (a) the Bank (unsuccessfully) tried to kept secret before the hearing the loss of another couple of senior managers, and (b) seemed to mislead the Committee on just how many of their senior managers had gone or were going. In the wake of it, the Governor forced the early departure of his deputy Geoff Bascand a couple of weeks before he was due to leave anyway, over unauthorised contact with the media [CORRECTION: “shared information to a third party”] (most likely over those two new senior management departures).
But towards the end of the hearing (about 50 minutes in here) there was a brief exchange on matters climate change, with an unusually…
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Eurogliders – Heaven (Must Be There) (Countdown 1984)
21 Feb 2022 Leave a comment
in Music, television, TV shows
HACKER VS HUMPHREY: A Compilation | Yes Minister
21 Feb 2022 Leave a comment
in television, TV shows
Bombs Away – German Thirst For Caucasian Oil I THE GREAT WAR Week 200
21 Feb 2022 Leave a comment
in defence economics, war and peace Tags: World War I
Dumb & Dumber: Germany Wins Prize For World’s Most Idiotic Energy Policy
21 Feb 2022 Leave a comment
Germany set the gold standard for idiotic renewable energy policies, although the Brits, Californians, Texans and South Australians are keen contenders for that glittering prize.
Thanks to its unhinged obsession with intermittent wind and solar, Germans are in the midst of a power pricing and supply calamity.
Suffering Europe’s highest power prices, is just the beginning.
In a don’t say we didn’t warn you piece, Pierre Gosselin spells out the consequences of running with the dumbest energy policy on earth.
Germany Electricity Prices Soar To World Record Highs After Years Of Energy Policy Folly…Expensive, Unreliable
No Tricks Zone
Pierre Gosselin
9 February 2022
Germany’s power supply, once mostly made up of a mixture of coal and nuclear power, used to be among the most stable and affordable in the world. Power outages were rare and grid interventions were infrequent.
Greens and socialists then tried electrical power engineering
But then in…
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Why There’s An Empty Skyscraper In The Middle Of Times Square
20 Feb 2022 Leave a comment
in economics of media and culture
How Europe Colonized Parts Of China
20 Feb 2022 Leave a comment
in defence economics, development economics, economic history, international economic law, International law, war and peace Tags: age of empires, China, economics of borders, economics of colonialism, maps
1919
20 Feb 2022 Leave a comment
in defence economics, economic history, International law, war and peace Tags: maps, World War I
Spending Restraint Is Good Policy…and Good Politics
20 Feb 2022 Leave a comment
Is “austerity” a good thing?
Depends on how it is defined. Johan Norberg points out that spending restraint is the right approach.
Since I’m a fan of spending restraint, I obviously like the video.
But let’s expand on two points.
First, the definition of austerity is critical. Some fiscal policy folks (at the IMF and CBO, for instance) focus on deficits and debt.
And this means they view spending restraint and tax increases as being equally desirable.
But that’s nonsense. As I’ve repeatedlyexplained, red ink is best viewed as a symptom. The real problem is excessive government spending.
Moreover, higher taxes usually exacerbate the spending problem since politicians can’t resist the temptation to spend at least a portion of any expected new revenue.
And since tax increases generally don’t collect as much money as politicians think they will, you can wind…
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Most carbon capture technologies create more emissions than they save
20 Feb 2022 Leave a comment
The carbon cycle [credit: laurencenet.net]
Nature’s carbon cycle already does this job. Why waste vast sums of money on dead-end technology ‘fixes’ that can achieve next to nothing in global terms?
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Most carbon capture and utilisation (CCU) technologies, which pull carbon dioxide from the air and use it for other emissions-lowering processes, emit more carbon than they capture, reports New Scientist.
This finding suggests that CCU projects, which have attracted billions of dollars in investment, won’t do much to achieve the Paris Agreement‘s emissions targets to prevent warming by more than 1.5°C.
CCU technologies take carbon dioxide out of the atmosphere, either capturing it directly from the air or absorbing it at polluting sources, and puts it to use in processes such as making fuel, plastics and concrete.
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