Andrew Bolt, Herald Sun (Australia)
But China is making sure our coal will always be around for China to use, instead:
THE Gillard government is investigating potential loopholes in foreign investment regulations after it was revealed a Chinese mining giant spent $213 million buying 43 farms for coal exploration in the NSW Northern Tablelands.
Can’t Labor and the Greens see how incredibly stupid they are being? Can’t they read the lessons of these purchases? We’re cutting our own puny emissions by taxing our own use of coal in the vain belief that China will follow our lead. But China is buying more coal deposits precisely because sees its future as dependent on burning a lot more coal.
Compute, people. Compute.
Monday, 27 June 2011
Holland kills the multiculturalism that is killing it
Andrew Bolt, Herald Sun (Australia)
"The new integration policy will place more demands on immigrants. For example, immigrants will be required to learn the Dutch language, and the government will take a tougher approach to immigrants to ignore Dutch values or disobey Dutch law.
The government will also stop offering special subsidies for Muslim immigrants because, according to Donner, “it is not the government’s job to integrate immigrants.” The government will introduce new legislation that outlaws forced marriages and will also impose tougher measures against Muslim immigrants who lower their chances of employment by the way they dress. More specifically, the government will impose a ban on face-covering Islamic burqas as of January 1, 2013."
"The new integration policy will place more demands on immigrants. For example, immigrants will be required to learn the Dutch language, and the government will take a tougher approach to immigrants to ignore Dutch values or disobey Dutch law.
The government will also stop offering special subsidies for Muslim immigrants because, according to Donner, “it is not the government’s job to integrate immigrants.” The government will introduce new legislation that outlaws forced marriages and will also impose tougher measures against Muslim immigrants who lower their chances of employment by the way they dress. More specifically, the government will impose a ban on face-covering Islamic burqas as of January 1, 2013."
Saturday, 25 June 2011
The Big Fat Greek Gravy Train: A special investigation into the EU-funded culture of greed, tax evasion and scandalous waste
Daily Mail
"Here, in the suburb of Kifissia, amid clean, tree-lined streets full of designer boutiques and car showrooms selling luxury marques such as Porsche and Ferrari, live some of the richest men and women in the world. With its streets paved with marble, and dotted with charming parks and cafes, this suburb is home to shipping tycoons such as Spiros Latsis, a billionaire and friend of Prince Charles, as well as countless other wealthy industrialists and politicians. One of the reasons they are so rich is that rather than paying millions in tax to the Greek state, as they rightfully should, many of these residents are living entirely tax-free. Along street after street of opulent mansions and villas, surrounded by high walls and with their own pools, most of the millionaires living here are, officially, virtually paupers."
How so? Simple: they are allowed to state their own earnings for tax purposes, figures which are rarely challenged. And rich Greeks take full advantage.
"Here, in the suburb of Kifissia, amid clean, tree-lined streets full of designer boutiques and car showrooms selling luxury marques such as Porsche and Ferrari, live some of the richest men and women in the world. With its streets paved with marble, and dotted with charming parks and cafes, this suburb is home to shipping tycoons such as Spiros Latsis, a billionaire and friend of Prince Charles, as well as countless other wealthy industrialists and politicians. One of the reasons they are so rich is that rather than paying millions in tax to the Greek state, as they rightfully should, many of these residents are living entirely tax-free. Along street after street of opulent mansions and villas, surrounded by high walls and with their own pools, most of the millionaires living here are, officially, virtually paupers."
How so? Simple: they are allowed to state their own earnings for tax purposes, figures which are rarely challenged. And rich Greeks take full advantage.
Ed Balls Take Note, Obama’s Keynesian Stimulus Has Failed
Guido Fawkes
"Obama did implement a massive $787 billion stimulus programme financed by more borrowing of the kind that Will Straw and Ed Balls still advocate. The chart above shows the results versus the predictions. Unemployment is far higher than the supporters of the “porkulus” projected, higher even than they projected it would be without wasting three-quarters of a trillion dollars. Not since the 1930s has US unemployment been so high for so long."
"Obama did implement a massive $787 billion stimulus programme financed by more borrowing of the kind that Will Straw and Ed Balls still advocate. The chart above shows the results versus the predictions. Unemployment is far higher than the supporters of the “porkulus” projected, higher even than they projected it would be without wasting three-quarters of a trillion dollars. Not since the 1930s has US unemployment been so high for so long."
Where Greece goes now, we will soon follow
Christopher Booker, Telegraph
"Far more than most people realise, we in Britain are approaching a financial abyss almost as great as that into which Greece has been falling. Last week, the deficit on our Government's annual spending widened yet again, to £143 billion, which means that we are having to borrow nearly £3 billion a week. That equates to £5,700 a year for every household.
The BBC continues to prattle on about those terrible "cuts", as various groups of public sector workers plan the widest series of strikes we have seen since the 1970s. But when did you last hear the BBC tell us that our overall public spending is rising, not falling? When did the Today programme tell us that by the end of the year, our national debt will have soared to £1 trillion, having doubled in six years? "
"Far more than most people realise, we in Britain are approaching a financial abyss almost as great as that into which Greece has been falling. Last week, the deficit on our Government's annual spending widened yet again, to £143 billion, which means that we are having to borrow nearly £3 billion a week. That equates to £5,700 a year for every household.
The BBC continues to prattle on about those terrible "cuts", as various groups of public sector workers plan the widest series of strikes we have seen since the 1970s. But when did you last hear the BBC tell us that our overall public spending is rising, not falling? When did the Today programme tell us that by the end of the year, our national debt will have soared to £1 trillion, having doubled in six years? "
Thursday, 23 June 2011
Quantitative easing back on Bank of England's agenda
Telegraph
"...Most MPC members feared that "the current weakness of demand growth was likely to persist for longer than previously thought", noting "the fiscal challenges in the euro-area periphery highlighted the potential for further adverse shocks to demand".
As a policy, QE is designed to combat a demand slump.
However, Simon Ward, Henderson's chief economist, described the prospect of more inflation-boosting QE as "dangerous".
"...Most MPC members feared that "the current weakness of demand growth was likely to persist for longer than previously thought", noting "the fiscal challenges in the euro-area periphery highlighted the potential for further adverse shocks to demand".
As a policy, QE is designed to combat a demand slump.
However, Simon Ward, Henderson's chief economist, described the prospect of more inflation-boosting QE as "dangerous".
Wednesday, 22 June 2011
Public opinion on international aid isn't where Cameron thinks it is
Spectator
"The policy is by no means a Cameroon brainchild. In 1970 the United Nations set the target for government aid at 0.7 per cent of GNI; in 2004 the Labour government pledged to meet it by 2013 and in 2006 David Cameron signed the Tories up to that pledge. It was a key part of the wristbands and huskies "detoxification" of the ‘nasty party’. Unfortunately for Cameron, he seems to have misjudged public sentiment on this issue. Only 7 per cent say the decision to increase the aid budget makes them more favouable towards the Conservatives, while 37 per cent say it makes them less favourable. "
"The policy is by no means a Cameroon brainchild. In 1970 the United Nations set the target for government aid at 0.7 per cent of GNI; in 2004 the Labour government pledged to meet it by 2013 and in 2006 David Cameron signed the Tories up to that pledge. It was a key part of the wristbands and huskies "detoxification" of the ‘nasty party’. Unfortunately for Cameron, he seems to have misjudged public sentiment on this issue. Only 7 per cent say the decision to increase the aid budget makes them more favouable towards the Conservatives, while 37 per cent say it makes them less favourable. "
Pimco warns Greece will default
Telegraph
"Pimco, the world's biggest bond fund, shrugged off last night's vote of confidence in the Greek government warning that it expects Greece and other European economies to default on their debts to resolve their problems. ....California-based Pimco (Pacific Investment Management Company), is based in California and is the world's biggest bond fund manager with nearly $1.3 trillion in assets under management. "
"Pimco, the world's biggest bond fund, shrugged off last night's vote of confidence in the Greek government warning that it expects Greece and other European economies to default on their debts to resolve their problems. ....California-based Pimco (Pacific Investment Management Company), is based in California and is the world's biggest bond fund manager with nearly $1.3 trillion in assets under management. "
Greek crisis could cost UK £336bn: British exposure 'significantly underestimated'
Daily Mail
"Britain could be hit with losses of up to £366billion from the collapse of the Greek economy, it has emerged.The warnings came as the Greek government last night won a vote of confidence in the Athens Parliament, clearing the way for a second bailout to go ahead. The crunch will come next week when the Greeks vote on a £25billion austerity package demanded by the EU before they hand over any more cash.The potential devastation of banks and other City institutions would be equal to 24 per cent of our annual national output, or £14,640 for every family in the UK."
"Britain could be hit with losses of up to £366billion from the collapse of the Greek economy, it has emerged.The warnings came as the Greek government last night won a vote of confidence in the Athens Parliament, clearing the way for a second bailout to go ahead. The crunch will come next week when the Greeks vote on a £25billion austerity package demanded by the EU before they hand over any more cash.The potential devastation of banks and other City institutions would be equal to 24 per cent of our annual national output, or £14,640 for every family in the UK."
Billions in overseas aid 'puts people off giving cash to charity'
Daily Mail
"Along with the NHS budget, international aid is the one part of government spending that is not facing cuts. It is set to double to £12billion a year by 2015. But the public overwhelmingly believes aid money discourages foreign governments from spending their own money, props up bad regimes and is ‘spent on projects that don’t deserve funding’.By a margin of 69 per cent to 7 per cent, voters agree that aid money ‘fails to reach ordinary people in the developed world and is wasted by corrupt governments’.
"Along with the NHS budget, international aid is the one part of government spending that is not facing cuts. It is set to double to £12billion a year by 2015. But the public overwhelmingly believes aid money discourages foreign governments from spending their own money, props up bad regimes and is ‘spent on projects that don’t deserve funding’.By a margin of 69 per cent to 7 per cent, voters agree that aid money ‘fails to reach ordinary people in the developed world and is wasted by corrupt governments’.
Tuesday, 21 June 2011
Treasury plans for Greece to go bust
Telegraph
"Treasury ministers have admitted that the Government is drawing up contingency plans for a Greek bankruptcy after being warned by a former foreign secretary that the euro “cannot last”.
"Treasury ministers have admitted that the Government is drawing up contingency plans for a Greek bankruptcy after being warned by a former foreign secretary that the euro “cannot last”.
Fitch warns any Greek debt rollover would be treated as a default
Telegraph
"Any voluntary rollover of Greek debt would be treated as a default, Fitch Ratings has warned, mounting pressure on European policymakers hours before Greece's Prime Minister faced a confidence vote. .....Euro zone ministers said they were also ready to put together a second loan package for Greece of around €120bn, to support the country longer term. "
"Any voluntary rollover of Greek debt would be treated as a default, Fitch Ratings has warned, mounting pressure on European policymakers hours before Greece's Prime Minister faced a confidence vote. .....Euro zone ministers said they were also ready to put together a second loan package for Greece of around €120bn, to support the country longer term. "
Subscribe to:
Posts (Atom)