Archive for the ‘Economics’ Category

Grounding of ship is warning of Port Phillip Bay disaster to come
May 9, 2008

Today’s shipping accident involving a relatively small New Zealand cargo vessel is just one more warning for those who live around the bay. It’s hull slid onto the Great Sands and wasn’t deep enough to reach the rocky outcrops the sand hides. This was during mild weather and without the RIP tides being involved. It was relatively easy to drag off. There are an estimated three accidents of this type annually (since 1974).

The real danger is when the tankers with a hull depth of another 3 to 4 metres run onto the sands. It will happen because the mouth of the southern channel has no room for safety. A large ship entering the channel from the RIP is at a an angle, and so a 50 metres wide vessel can be as much as 130 metres wide and the estimated 200 metre wide entrance offers no real safety margins when there is a 14 knot tide running through the RIP and perhaps a storm adding to the chaos.

A fractured hull on a tanker means an Exxon Valdez for Port Phillip Bay. The billion dollar profit alleged from the deepening of the southern channel and the RIP will look puny compared to the $20 billion clean-up ( estimated cost of Exxon Valdez disaster). That was in the ocean were oil could escape. Now, imagine a disaster of that magnitude in the bay. Peter Garret please take notice.

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POM’S dishonest bureaucrats are again loose on the channel dredging turbidity
April 30, 2008

The Port of Melbourne are blatantly manipulating the turbidity results on their testing of the effect of the Port Phillip Bay dredging. A small glitch occurred while the dredge was undertaking the most delicate task of all at the RIP (or the Heads). That small glitch meant that the turbidity testing was missing for 25 hours. Fortunately for the POM no data was recorded at all during this period. It will be certain to bring down the figures so that the POM won’t have to report any untoward dredging.

This is the usual shit from POM. The last I was involved in was the challenge they made to my documentary’s (The Last Good Summer) figures on the economy.

The documentary could only be shown at the former Premier’s electoral office at a party meeting if POM supplied a senior economist to state how wrong the documentary’s figures were. Unfortunately for POM their figures were blasted out of the water a few days later and, on the strength of that, a new panel of “Yes” people was hastily drawn together for a reinforcement of the government’s proposal.

Kevin Rudd needs to pay attention to a planet that is a super organism and will save itself.
April 17, 2008

Kevin Rudd is far behind on climate change and has no respect for the environment, but he loves kids. The need to talk to them, educate them and look after them shines in all his meeting with children. It’s good to watch. He also likes old people and just about anyone who comes across his path. It’s a pity he’s not doing enough to ultimately help them survive on this planet. Respected scientists are now saying by the end of the century that 60% of humanity will have disappeared from the planet because of lack of food, water and a continuing devastation¬† by horrendous storms. Remember those who think the planet is a super organism and will always survive. I used to laugh at them. This dust beneath my feet isn’t doing much thinking, I thought. Kevin, pay attention to those allegedly radical scientists. That way things will begin to happen. Not that I agree with them on nuclear power. But if the super organism is intelligent it may help us to help ourselves.

Tattersalls and Tabcorp are playing a dangerous game – they could be up against retrospective legislation.
April 11, 2008

IF Tattersalls and Tabcorp think they’re going to win against the Brumby government so they can continue their greedy snuffling in the trough they’ll have to lobby very keenly.

THE ONE HUNDRED AND FIFTY FARMERS THAT SUED THE KIRNER GOVERNMENT OVER THE EVAPORATIVE BASINS IN THE MALLEE, IN AUSTRALIA’S FIRST CLASS ACTION, WERE WINNING THEIR CASE HANDS DOWN WHEN THE KIRNER GOVERNMENT REALISED THEY WERE ABOUT TO LOSE. AND ON THE DAY BEFORE THE COURT WAS TO BRING DOWN ITS JUDGEMENT THE STATE GOVERNMENT PASSED RETROSPECTIVE LEGISLATION THAT THREW THE FARMERS CASE OUT OF COURT

THEY LEGISLATED THAT THE GOVERNMENT COULDN’T BE SUED OVER THE MATTER. OF COURSE TATTERSALLS AND TABCORP HAVE A GREAT DEAL OF MONEY FOR “LOBBYING” SO THEY JUST MIGHT MAKE IT. OF COURSE BRUMBY MAY BE PLAYING AN EDGY GAME AND HOPING FOR OFFERS. NOTHING IS AS IT SEEMS.

This week’s evidence of why we shouldn’t trust governments and business
March 30, 2008

Apart from the stockbrokering firm who who went bust for a billion and who sold their clients’ holdings (not illegal just irregular), there are the various spins from federal and state government.

The new billion dollars that was for the Victoria’s Murray-Darling cocooning was actually not new money but for the food bowl programme under John Howard. The Australian allowed us to see that in the columns of Glen Milne’s excellent investigative piece. He didn’t castigate Minister Wong for being part of the misleading spin but maybe he should have. She will be the preventer of all good things to help climate change and the effects of same.

Yes, and the third example is again to do with water. Here’s a quote from political reporter, Rick Wallace, “The First Mildura Irrigation Trust is under investigation by Finance Minister Tim Holding for investing $4.5 million it borrowed from the state treasury in funds affected by the crisis. The trust which is facing the sack, is thought to have lost $750,000. Can we really trust anyone to do anything about climate change?” And it’s only Monday.

Men like New York Governor Eliot Spitzer mistake their wallet for their fly
March 14, 2008

Former New York Governor Eliot Spitzer is one of those poor bastards that missed out on real sex in his mad scramble for power. Real sex has nothing to do with money being paid in an attempt at satisfaction, although wealthy women occasionally mistake a man’s wealth for personality, power and good looks.

So it’s not entirely a philanderer’s fault if he mixes up his wallet and his fly. Women and men mistake the attraction of symbols for the reason that those copywriters who have pored over Freud (and Shakespeare, as Freud used his symbols to interpret dreams and desires) for meaningful symbols that will turn people into harvesting consumers, have managed to disguise sexual lust in ads for food, coffee, icecream, cars, weapons of mass destruction, and anything else you like to mention.

Still you’d expect a governor to know enough about sex to indulge it with some finesse and ultimate enjoyment. Sex for an hour with a paid companion is hardly anyones considered structure for a delightful evening. It’s more like a cookie monster hard at work on lingerie.

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A nuclear facility providing nuclear fuel is a dud
March 14, 2008

The Guardian is such a great newspaper. It always covers – unknowingly – the results on many of my speculations. This time they report on a nuclear plant, built for over a $1 billion, to provide atomic fuel for foreign power stations has produced almost nothing since it was opened six years ago.

And where did they get this information? From the government. The Sellafield plan which was opposed by green groups as uneconomic – was predicted to produce 120 tons of the stuff annually. It barely managed 2.6 tons. Notice how green groups’ predictions are mostly proved right.

My prediction was a little different. It was that the plant would lay waste to the surrounding countryside and, finally, cost billions to clean up. That announcement is still to come. It’snot quantum physics to establish such logic, America’s Washington State is in such shock over its nuclear waste it will be getting rid of future stock to Australia.

Our international, deregulated banking magic may just lead to a banking collapse
March 9, 2008

Our international, deregulated banking system has a magic move to benefit their shareholders. They create money.

Here’s how it works for them: If an individual wants a great deal of money to purchase a house the banks “lend” it to them. Let’s say you go in and ask for $300 thousand and, deciding you can pay that amount off, they lend it to you. At that very moment they create your account they create the $300 thousand. It hasn’t been there before. They haven’t had to have that amount in their vaults but as soon as they have someone to pay that amount off it appears as a $300 thousand plus interest repayments, asset. If they do want to make some money they then sell your debt on for more money, usually to another bank.

And how does it work against them? Well, if there’s a major fall in house prices and/or the interest rates rise and the original purchaser can’t pay off the debt, or only a portion of it, then there’s the beginning of a banking collapse.

Sam should have been following my father’s advice on daily sex
March 6, 2008

Sam Newman should have taken my father’s advice. He told me that to keep prostate cancer at bay you should have daily sex. My father died at 92, without acknowledged prostate problems, but because he had jaw cancer, and he was frightened that the titanium replacement would buckle if he ate regular food. I know he ate regularly, on a daily basis in fact, but that didn’t save his jaw.

I ridiculed my father’s prostate theory and didn’t want to think about the daily sex he might be having until I received my inheritance of $678.80, exactly the same amount as my brother. Having lived the life of a rich man with beach houses, a superb art collection, and other indulgences (sounds like Sam) I imagined that I might receive enough to squander it on … something. I checked out my father’s finances and spoke to his friends.

Suddenly my respect for him was enormous. There were three women and he had given one an orchard, one a bus line and another a restaurant. To what age had he indulged himself? Well, the scene changed a little.There was a weekly cheque of $150 to Fashion Affair, a lingerie store, and a similar amount simply marked in the cheque butts as flowers. As he had never bought anyone flowers as far as I could remember, including my mother, and as I didn’t imagine him wearing women’s lingeries at 92, I surmised he had been avoiding prostate cancer up until the very last moment.

Sam you should have been doing better. I know I am.

Mr Glyde the government’s agricultural adviser who says sack farmers is himself a no-brainer.
March 5, 2008

Hey, we’ve got a live one in Phillip Glyde, head of the Australian Bureau of Agriculture and Resource Economics. The brilliant mind is saying that drought effected farmers shouldn’t be given aid, but should be sorted out by their experience. If they can’t survive economically they should be shafted.

Oh really, and has he looked at himself? Has Canberra’s chief adviser on agriculture been a success?

It would appear not, look at the figures he quotes. These farmers at the bottom 25% of earners have earned zero dollars for the last 20 years. Glyde says, “Fuck’em they’re hopeless.” He’s not hopeless? It’s been his job to advise governments on how to make farming profitable. So let’s look more closely at his advice. If a labourer makes no profit for twenty years, should he/she give it up? A farmer afterall is a highly skilled and knowledgeable agriculturalist who does much labouring. But the skill and knowledge can be thrown out the window if there is no water. For many there is no water. In one drought effected area – the Central Goldfields – water is going to a Chinese protein factory. Well, it was however the money has stopped flowing so the building is built but the workers aren’t getting paid. Many of those people are farmers working as labourers, so I ask, dear Mr Glyde, what should they do, stop labouring?

But we’re onto Mr Glyde, he would be one of those no-brains who has supported GM seeds etc and has simple visions of great corporations taking over the farming of Australia, using GM crops – perhaps soybean for bio fuels – and like Paraguay and Argentina where companies like Montsanto sell the GM seeds, and the pesticides and herbicides at the strength that GM crops can take, and devastates the rest of the country (see Paraguay’s experience in The Guardian online). Not only are the crops of small farmers ruined because of the spray drift of the chemicals but governments work against them to ensure they are financially ruined and have to sell to the big corporations who are using GM.

Now the big question arises. As many GM crops cross the genes of bacteria, vegetable and animal there are unknowns entering our bodies; our bodies have never processed such glug before and, strangely, develop allergies. America, a great lover of GM food, has had a huge increase in serious allergies. And Mr Glyde, thanks to the brainless like yourself, there has been no research into such developments. Gee, I’m so old I remember when governments told us that there was no no danger from radiation.