Mangled Thoughts

It is due to keynesian policies, Central Banks and Statist Government. The question to keep in clear view is, how did it come to this?

Central to keynesianitis is the fallacy consumption drives economic growth. Hence the reliance on the aggregate GDP. According to this ‘indicator’, consumption is 2/3 of economic activity. To this, demand can be raised by central banks engaging in monetary expansion. The alarm over the credit crunch around the world, and heightened into panic by the collapse of Lehmen Branches, AIG, and Fanny and Mae, is due to these fallacies.

It is savings, capital accumulation, that fuels growth. Production is 2/3 of expenditure, against the misleading aggregate GDP. It is the disruption of the framework of prices and its impact on manufacturing that is the worry, and occurs before housing and share-market bubbles burst. This is the worry, how much damage has been done to savings?

The above points are neatly demonstrated here:

US Economy’s Bubble: Casting the Recession Runes

Some reactions to the crisis -

Have been appalling.

RBA
Comments such as as, ‘it’s not Glen Stevens’ (head of the RBA) fault’ and ‘he’s done a very good job in very difficult conditions’, have been generously published in newspapers. Thus, such dismal articles as this:

Reserve Bank not to blame for our sub-prime battlers

He’s not done a good job at all. He’s responsible for what is driving the recession in Australia.

It’s not him personally. It’s his and his seconds’ in the RBA keynesianism that is the culprit, as their predecessors for for past recessions and depressions, and it is reprehensible. Failure to nail this, and its rectification means the same will occur again in the future. It’s also a damning reflection on not only RBA, but also the commentariat and the Universities. Keynesianism is the ‘mainstream’ assumption.

Cabinet and Opposition

Last week things degenerated rather swiflty. Early in the week the bipartisan response to crisis was imposition of a ban on short selling. Short selling, and long selling are very important actions; banning them causes great damage in markets. Next, Rudd announcing an overall intensification and extension of controls over markets.

He finished on Saturday by announcing that he will use taxpayers to buy up bad debt. Swann expanded; this will “inject liquidity into the market”. Injecting liquidity is what caused the crisis, it is credit expansion. Yet, the government cannot do this, only the RBA can. This leaves only what he did declare:

They, Rudd and Swann dictated many Australian taxpayers are now liable for others’ bad debt. They will sap Australians’ savings to buy it and to cover the liabilities. Swann said, Treasury will ’securitise’ the bad debt and sell them to investors.

‘Securitisation’ was driven by keynesian credit expansion and it is this last that brought down Lehman Brothers, and AIG. Central Bank credit expansion and the mechanism of its distribution, fractional banking, is why they collapsed. There is no market, certainly not at the moment, for junk. Don’t take my word for it; here’s Martin Jacomb, who is a former director of that Central Bank the Bank of England in an article:

“Conditions in credit markets awash with easy money were made to seem even more benign with the growth of securitisation. This is the process whereby banks bundle up a package of loans, such as residential mortgages, and then slice these up into tranches of differing qualitiy, so that these tranches can be sold to incvestors outsid eof the banking system. Thus banks were thus enabled to expand the volume of their lending….It also supposedly diversified risk.”

(Sir Martin Jacomb, From Northern Rock to Lehman: who should share the blame? Spectator, 20/9/08).

It’s unamusing to note that while it is contained in the quote, Jacomb did not finger the villain, kenynesian policies (for which he is also responsible). Later in the article he briefly commented that in time; buyers of bad loans might reappear, and then only if the loans are sufficiently discounted. “Securitised” bad debt is, Mr. Swann, worthless; just a bonfire on which to destroy good money, money that government takes by coercion.

Some Media responses to Rudd’s decision

To foist bad debt on that hapless sod called taxpayer, over the weekend:

“It will ‘inject liquidity into the markets”‘; “restore markets”; “its a good thing because it means we can make profits again”‘; “business will recover”.

Janet Albrechtsen

Married to a mate of Murdoch’s (of course talent got her a job on The Australian), this wealthy, sympathetic economics expert blamed the modest man in the street and his and her reasonable desire to own a home:

“perverse incentives that allowed consumers to take a one-way bet when they borrowed money… for every episode of predatory lending there was plenty of predatory borrowing.”

They could get away with their crimes, according to Janet, because they faced no punitive consequences. Well, those who failed to meet their payments did pay: they have lost all that they did pay; it’s called homelessness.

These vicious bastards were, according to Janet, in collusion with another pack of “evildoers”, (non central) bankers, dealers, brokers and any other low-lifer making their way in markets. Together, they conspired to bring down some companies and the whole wide world.

What else is to be expected of Janet, who did her bit to undermine Howard, destroy the campaign for free labour markets and called for a nazi style coup de tat as her solution to defeating the hard Left. Janet fancies herself as warrior for Liberty. Destroying causes she claims to fight for is a weird notion of heroism before the enemy.

It has clearly not occurred to Janet, nor has she bothered lifting a finger to find out, the massive credit expansion by central banks ends up somewhere. It ends up in mortgages and credit card debts. Then, why should she. The CIS and IPA are as incompetent as the newspaper commentariat, and the economics writesr of the Australian are also appallingly bad. Callous, ignorant, deaf, dumb, and blind, Janet has a snowflake’s chance of coming to grips with what is behind the crisis.

Andrew Bolt
According to this Cambridge don in economics, ‘inflation is the price you pay for a successful, booming economy’.

What else is to be expected of someone whose ‘economic advice’ comes from the likes of those clowns in the HR Nicholls Society. Oh, and whose vicious attack on Co2 taxes is to say, it means price rises, as opposed to destruction of capital. It’s understandable why Bolt avoids mentioning capital destruction: he fully supports capital destruction through a particular Co2 tax, ethanol production, and this is wiping out food production around the world.

John Quiggin He attributes the crisis to, in good hard Leftist fashion, to the ‘internal contradiction’ of capitalism. The disaster was inevitable. Except for one thing, keynesiantis policies are against free markets.

Quiggin believes he can get away with his oily deception and he is right up to a point. CIS and IPA are not engaged in free market economics and defence of free markets. They have done great damage in both endeavours.

What Quiggin runs away from is debate with those who can defend free markets, and it is clear why he does. Feeling superior,Quiggin used to smugly write very nasty ‘criticisms’ of Jackson and his work. His sense of his greatness did not last, it was beaten out of him by Jackson in searing articles. Mention the name Brookesnews and Jackson, and Quiggin flees to the hills, or at least under his bed. Yes, Quiggin is another gutless cretin whose equals are vicious fishwives.

It’s been the diseased Left’s chorus line, the crisis is the proof against ‘free market ideology’. Christine Milne of the Nazi Greens Party freely declared so in the Senate, and why not. There is no-one in the Liberal Party, in both Houses, capable of demolishing that lie and defending free markets.

Prediction

Not one of them predicted the crisis, not that they could. Arsenic purveyed as economic theory is no grounds for prediction. The exceptions are those who work from the within the framework of Austrian school monetary theory, and I retained in my pc from the 1990’s articles demonstrating this. Oddly enough, those pertinent to the Australian scene are by Jackson.

Here is one startling prediction, delivered in 2004 (US economy: storm clouds ahead):

“I’m betting on another recession in or around 2008. Of course it’s possible that the economy might begin to slow much sooner.”

Jackson over the last few years, has repeatedly warned of the storm that is now breaking, thanks to the RBA’s massive monetary expansion since the 1980’s.

He predicted the 1990’s recession -

Is Australia heading for a “recession we had to have”?

It was, however, temporarily arrested by the RBA. It engaged in a massive monetary expansion from January 1996 to June 2005.

Australian economy, recession and the trade cycle
Monday 22 August 2005

In, Now for the Clinton economy Bush has inherited( December 2000), he related:

“In the last few months at least 250,000 jobs have gone, with about 45,000 or more going in November. For the last five months jobs losses have averaged about 52,000 a month or more… the vast majority of job losses have been in manufacturing.”

In, American economy looking worse( March 2001) he observed:

“A few more figures will illustrate just how bad the monetary situation really is. Consumer credit grew by $135 billion in 2000, compared with nearly $100 billion in 1999, a 35 per cent leap, while 1999 was 50 per cent up on 1998. Not surprisingly, non-mortgage credit has been racing ahead. It has now reached the point where spending is exceeding income. This is what I call a real monetary shot in the arm — and it’s Dr Greenspan who wielded the needle. In the meantime the personal saving rate fell to –1 per cent in January….

“We have seen that though consumption is still rising manufacturing is still going south. Nevertheless, many commentators defy reality by parroting the argument that consumption accounts for about 75 per cent of final demand in the US economy consumption spending must be the key to recovery and prosperity.

“Wrong. Consumption is about 38 per cent of total spending, if that. The manner in which GDP is calculated conceals this vital fact. Therefore, it is not consumption spending that needs to rise but spending in the higher stages of production — and this means more savings. However, as there will never be enough savings to save the malinvestments that Greenspan’s reckless monetary policy created a shakeout is unavoidable.”

The mainstream media and the think tanks have been, to quote one of their number, “caught by surprise”. Jackson wasn’t, but it’s not him, its the framework of theory that ensured he wasn’t caught by surprise.

Returning to the beginning

What sparked this item is the actions of the RBA, Rudd and Swann, Turnbull and Bishop. It’s not clear how severe this recession will be but, this lot have given every indication that they will find a way to compound it. On the other hand, Rudd proceeds with Co2 taxes and central planning (which was the policy of the regime of the USSR and thus it collapsed), and the question of severity will seem, in retrospect, rather trivial.

It’s come about by ‘professional economists’ and a commentariat drilled into the arsenic of keynesianism. The RBA, and statist politicians committed to keynesian policies. The trouble this time is that the crisis is being used by the hard Left, and statist politicians as an excuse to attack free markets.

In the case of the Rudd Cabinet, free markets is totally incompatible with their fascist aims. Worse, the ‘Right’ and their anti-free market think tanks are also causing great damage.

This morning the Premier of Brackistan, Brumby, declared Rudd should follow the keynesian prescription, a massive increase in Federal Government consumption. The Rudd cabinet needs no such encouragement; it has already rocked up billions of extras in squander. Brumby also called on Glen Stevens to commit another round of credit expansion. He said he will advise Rudd this afternoon. Great, just spiffingly wonderful.

As I write this, Glen Stevens has announced another round of credit expansion. Echoes of 1991.

It truly is appalling that despite the record of Keynesianism, one disaster after another, it is nonetheless adhered to. It is the crisis is not a spur to return to something tried and true, sound money.

More tomorrow.

In comments, Tim Blair considered response to, “Liberal Party News: “Betraying party members and Australians is fun”, is:

“You are mentally ill”

I appreciate pyschology can be absorbed in three weeks flat, but degrees in science and postgrad in neuro-science?

It might also be observed, it is not a good thing to do, because it’s a fusion of sound science with the muck of psychology. However, I thank Tim for his evident concern. I do have a complaint and I had to visit the local chemist for a cure, cough drops.

Someone cynical on the other hand would conclude Blair has demonstrated once again, and he has done it a few times, the “Right’s” typical response, jerk knee and come out smearing. I had occasion to remind someone else who did this in comments that to be effective, a bit of mud flinging must be delivered within a framework of rebuttal and Blair has, once again failed to secure this. In Blair’s case, this is most likely due to sensitivity, whereas of, for example, the CIS, IPA, and Kroger Kronies Party, it’s donor’s money, arrogance, and blind stupidity.

Still sensitivity doesn’t excuse Tim Blair ignoring what was set out in, “Liberal Party News… is fun”. Could Tim be committing the same sin that stamps the putrefying “Right”? If it’s a toss up between them and the ruination of millions of Australians, millions of Australians can get stuffed. This is more than a little pointed.

Malcolm Turnbull is another power hungry, unprincipled ignoramus. This man declared when he was Minister for the Temple of the Greens’ Death cult, the Department of the Environment, Government must force the prices of goods up. Energy is a priority, because, he declared, that will make usage more effficient and will combat greenhouse gases.

Apart from being an ignoramus in science, Turnbull is witlessly pushing economic inefficiency and cutting supply to Australians, while wealthy types like him enjoy a really comfy life. He is an economic dumbkopf. He is psychopathic with it, because he is committed to destroying capital through carbon taxation, as he has already demonstrated on the Bills one related in the article. What does Tim Blair make of this buffoon:

A promising start from Malcolm Turnbull:

This is also comical; “Turnbull also took aim at Wayne Swan”. Tim links an article that purpotedly shows what a terror of the hard Left Turnbull is. It is rubbish, tripe. It is appallingly bad. It might also be observed since, it seems, Tim hasn’t noticed it but the ALP has been shredding the Liberal Party in the Parliament. What happened this week in Parliament this week is only a symptom of how bad they and their advisers are, and what an effortless, fun time the hard Left are having. This, Tim, is their form.

The arrogant Right’s contempt for the modest man, and that they live in a steel enclosed gene pool doesn’t only mean they are intellectually dead. Other symptoms might seem trivial to some but let’s see:

They are blind to voters. The Liberal Party is gutted of members who have left in digust, and membership is still bleeding. Secondly, the insouciant Right have so discredited genuine Liberal Principles, it is becoming commonpace to hear the man in the street to call for a return to protectionism and ‘industry polcies’. This isn’t merely the ALP and the ACTU, this is the man in the street calling for it. Radio is flooded with callers saying things. I have taken to a bit of activism and as a part of it, ask modest Australians about their concern, and they tell me the same things.Yet, it is worse than this:

The ‘know it all’ “Right” have so discredited free markets, and this driven by error shot economics, the man in the street is increasingly agreeing with the diseased Left that free markets is an ideology.

Contempt for the man in the street is also contempt for the voter and this is where fights are won or lost. The Right treat the modest modest man as a serf with the intelligence of a retarded child; they are to be indulged, patronised and will do what they are told. If that were the case, then why didn’t they do what they were told at successive states’ elections and the 2007 Federal election. To point this up:

It was the assumption of those clowns, the HR Nicholls Society, with special attention to the central figures culpable for destroying what was a sound and thus highly moral campaign for free labour markets. Namely, Hugh Morgan, Des Moore, Ray Evans, Nick Minchin, Peter Costello (as a Nobel prize winning economist he was bloody clueless too), Kroger, Kroger’s $4,000 a week lickspittle “Iron Man July” Julian Sheezel. Morgan, Evans and Moore, however, were the architects of this catastrophe, and it is clear Tim Blair never did ping them for what they did.

As a matter of fact, in first The New Australian and then its successor, Brookesnews, Jackson was warning the Liberal Party, if they followed the tripe pumped out by those three incompetents reform would be blown out of the water. And, Tim, it was worse than bad. They only conceded every falsehood the ACTU relied on to defeat labour market reform. On the other hand, looking back, this lot were not about defending free labour markets. They were about ‘reforming’, as it were, labour, and they assumed voters would obey them.

Morgan smiled into the camera that he believed loved him in 2005. Oh, the ABC camera did love him but not for the reasons he assumed. That night, he not only completed the destruction of the fight, he blew the Liberal Party out the federal election waters ahead of the 2007 election. In 2005, ACTU commissioned a top US pollster who confirmed this. He told voters they will do what he and pals tell them, including an election clinching detail.

Voters correctly drew the conclusion these lot of wrecking morons were stating, modest Australians were paid too much and will take a massive pay cuts. $3,000 a week Andrew Bolt reinforced this cheering news by telling modest Australians they are wealthy and are ingrates for not appreciating how well off they are. This week in Parliament, ACTU boss and now Senator, Cameron stood up in the House and delivered an effective speech with the sort of venom the gutless Right wouldn’t dare against the hard Left.

He assailed them for their contempt of modest Australians, on modest pay, in real jobs that involves real work. He hammered them for not giving a stuff about the realities of what they face. He also hammered them over reality of collapsing manufacturing. Cameron is hard left, a Union thug but for all that, he had list of telling good point, and while he is wrong in the explanation, he is genuinely concerned about what he raised.

Then there is the march of the diseased Leftists, as observed in the first article of today. The idiot “Right” have been so successful that the Greens Nazi Party are emerging as a major Party while the Liberal Party is being reduced to a rump party the size of a flea. The membership numbers demonstrate this.

The bastards wrecking the Liberal Party have choked the Party, in order to retain their death grip over it. They are protected by ignorant journalists. So, we end up with:

-The Statist blobs stuffing Victorian Parliamentary seats.
-Fascist slobs stuffing Parliamentary seats.

According to Tim Blair, these are effective Liberals. Mind, I can see why. His pals in Victoria have stuffed Victorian Federal seats with cretins. The Victorian Division is about to be wiped out and this means the Federal seats will be wiped out too. This is such a splendid success that now I appreciate why diseased Lefts are carted of to hospitals for heart attack operations, the strain of laughing uncontrollably takes its toll on the ticker organ.

To sum up this reply so far:

What is at stake are grave matters which have tremendous impact on Australians and their prosperity. It requires solid principles to

- To work them them out accurately and in order for effective action.

- To present the case to the man in the street, it is they who must be convinced of truths.

- To fight the Left

The above requires robust intellectual engagement. It requires activism. It requires spine. It requires energy. These are the very qualities the decaying “Right” is devoid of, and they destroyed good causes, wrecked the Liberal Party and have only succeeded in putting the likes of Bracks, Brumby and Rudd into office, and fuelling the Nazi Greens Party. To cap it all off, what sits opposite these fascist bastards is no better.

What it reduces to is a pack of shallow, conceited, venal dunderheads playing games with the lives of millions of Australians while pretending to be their best friends. The example of the genuine concern of ACTU heavy, Senator Cameron, is a rather pointed contrast. It shows, the Federal Liberal Party sees nothing wrong with wiping out capital through carbon taxes and thus ruining millions of Australians. This is what these stone idle lounge cushions support and,

Tim Blair sees nothing wrong in all that!

What disturbs him is being pinged over covering for these useful idiots, and pointing out his pals in the IPA, and Bolt and Albrechtsen have caused great damage and have entrenched the worst. No, that’s a mistake.

They are useful, very useful to the diseased Left, but then Tim Blair also joined in. After all, Blair, that is what the business of blacklisting and smearing Jackson is all about, to damage his reputation as a fine economist, in order to prop up incompetent cowards busy only in wrecking good causes and destroying the Liberal Party, and sapping Australians with it. Blair gave his fulsome support to this, at the HR Nicholls Society.

This will do for today. On Monday, we bring in a few more points that are a tad devestating. How Tim Blair can continue believing in his heroes of the Press and in the Party, and in the clunker tanks is, some hold, a puzzle. I must strenuously disagree. A man who has mastered all that is prequisite to practice psychiatry in three weeks flat, can’t be shallow. Oh, there is a defect, the component psychology; this leads good men astray, but I defy anyone to say it has lead Tim Blair astray.

My friend Strider signalled “have compiled full list of the embattled companies which have been funding the IPA, which may now turn off the money as they fight to stay afloat…” We can inform, the list is due to a leak that has, oddly enough, sprung in the hull of the IPA. Let’s call it, Leonardo.

It’s a fascinating list too. Still doing some research based on the list and so for now, one is struck by a contradiction, with exceptions that will be mused on. It can be phrased in a few questions: Why would companies, being strangled and torn up by each tier of government and agencies, fund a think tank that has:

- Failed miserably to fight hard and win against the very measures and instruments by which government is shredding them?

- Has helped government to strangle them by imposing measures ‘the right way’?

- What does this disclose of directors of the companies facing death by a thousand cuts?

What stands out with sparkling clarity is that as the Centre for Independent Studies the IPA is as a blowfly to food (money); it zooms in and attaches itself to it like glue. The usual action is to prevent this by sealing food and spraying poison to eradicate the pests. Not the directors of the companies. The CISand IPA are very good at buttering Directors and steering them. They have to be, because those Directors have poured at a minimum $30-40m into these two clunker tanks and for it nothing has been achieved and worse:

They have been sold out by Greg Lindsay’s pension plan and the Kemp family’s cash cow. The CIS, unchecked, is openly selling out companies, with a couple of exceptions, by lobbying for Co2 taxes and having written the propaganda script for capital destruction day through Co2 taxes Rudd and his gang of thugs freely draw from. Even better, Nick Gruen, who is the CIS’ expert Hayekian, and he cocks this right up too, advises the Rudd fascist Cabinet.

Hmmm, since he is in receipt of taxpayers’ funds, and taxpayers have a right to know such things: How much are you being paid for this sell out to the Fascist Rudd Cabinet, Nick Gruen? Well, it’s a handy job isn’t it.

He can brief Rudd in detail on the CIS’‘right way’ to destroy Australians. Perhaps he is advising Rudd on how to compound the damage caused by keynesiantis, by, oh, short-selling bans. Whatever, Gruen’s advice can’t be good for Australians, given Rudd and co like it and throw Australians’ hard earned stolen property at it.

So, taken with the IPA, company Directors’ are taking shareholders’ funds and throwing it down a wealthy man’s version of professional dole bludging, unlike all those made unemployed due to anti-free labour market effective minimum price fixing. CIS’ star defender of Lindsay’s super fund, Professor Saunders, had the hide to say that modest Australians made unemployed for that genuine reason should be turned from dole bludging and made to beg for what is otherwise just compensation for thuggery against modest Australians. Saunders called it ‘mutual obligations’.

It never occurs to the CISand IPA, they have a ‘mutual obligation’. They have had a $30-40ms+ mutual obligation and have not fulfilled it. They have had a fun time, lolling about in their clubrooms doing anything but fulfill it. Some say, they have had a fun time wrecking the things they are supposed to deliver on. Some are rather irritated they have managed worse than this.

Can Directors’ justify to shareholders throwing their funds at wealthy parasites who are destroying the causes they are paid to fight. Justify to much abused shareholder handing more of their rapidly diminishing capital to a pack of wreckers of fights? Justify, keeping a pack of arrogant, unprincipled cowards in the lifestyle they believe is theirs by divine right?

The Directors have a real problem, they are presiding over the destruction of the companies they are entrusted to run and funding clunker tanks who are helping governments destroy companies. Of course, the Directors would have to realise defence of their companies requires solid defence of free markets, and activism to match it. The CIS and IPAhave not defended free markets. It is well they are cowards and not actavists because they would only discredit a solid fight in the eyes of many more voters - and the 2007 election was enough punishment for such defection.

A word to Ess

From your comment, it’s clear you don’t know my friend Strider. But otherwise, thankyou for the cheers. Ah, it is not supporting Mr.Jackson; it is simply that one attends to his output.

What one is doing, is drawing attention to Jackson for the very reason the commentariat, CISand IPA are appallingly bad. I correspond with fine economists overseas but it is important to refer to Jackson. He is learned, unlike say Professor Sinclair Davidson. His reasoning as a theoretician is impeccable. His analysis of affairs deadly accurate. He also does what the CIS and IPA and the media commentariat never do:

Besides his work in economics, he writes for Australians, and in it nails what has to be nailed swiftly. With it, it is clear, his is an effort to engage the public. There-in is the telling point, those overseas cannot fight battles in Australia, they have to fight battles in their own countries. Jackson and Shostak are the only two genuinely fine economists I’m aware of doing work that must be done in Australia.

Jackson discusses and debates what should be attacked openly and in public fought, but the media and the a-nueral “Right” have shut debate down. Thus, it is why on the “Right” in the media, there are only the likes of Alan Wood, Terry McCrann, Andrew Bolt, Janet Albrechtsen and Tim Blair: they are wrecking grave matters, and it boils down to ignorance and arrogance. That is all there is in the media. This rotten state of affairs cannot be blamed on the diseased Leftists in the media. It’s the necrotic, incompetent, ignorant Right that has shut debate down in the media. Look at the upshot:

We have not only ended up with the Rudd Fascist Cabinet out to destroy Australians. The truly scary thing is we’ve ended up with Liberal Parliamentary Parties (States’ and Federal) that are no damned better.

Unchallenged by a feeble “Rightwing” commentariat, these lounge lizards continue in their preferred “right way” to ruin Australians. All this in the name of Liberalism! This is supposed to be a Liberal Opposition fighting their way back onto the Treasury benches! It’s not scary, it is terrifying; first Rudd, next this lot. To check, as an example, the bozos in Canberra are supporting measures that will destroy capital and thus immiserate Australians.

Funnier still, the Nazi Greens Party is emerging as a major Party. The Liberal Party is being reduced to the point it faces being wiped out altogether in certainly the Senate, and to a tiny rump in the Victorian Parliament. The clowns in the nepotistic “Right” never took the danger the Greens Nazi Party and their other fronts such as PETA seriously. They considered these diseased Leftists as a merel pack of crazies and villages that are a political one day only.

I always took the threat the Nazi Greens Party posed seriously. If you’ve read Jackson over the years, you will appreciate he has too. Well, who was right? Though, if I’m wrong, and Jackson is wrong, it’s a tad tricky explaining all the victories they have been handed, by the camotose “Right” and watermelon heroes such as David Kemp, Ian Campbell, Malcolm Turnbull, Ian Macfarlane and that gibbering idiot Reg Hunt. How is the increase in their Parliamentary numbers to be explained - a vote counting error? Polling officers have been bribed in each election?

That is the upshot Ess. That is how much damage has been caused. The result, great dangers have been unleashed and all that the pustular “Right” can do is scream when a few truths are spelt out. What else can be expected of venal, myopic, blundering stupid types. It’s all about them - “Sod Australians, we want moolah from donors,taxpayers, and Murdoch, and careerahs and power”. It’s the ever present perpendicular “I” that always shines out with this lot of boobies.

It might as well be a Liberal Party News headline.

The carbon tax on car emissions alluded to in, Liberal Party News: Liberal Party sells out Australians (24/9/08), is diktat to car manufacturers. They are to rebuild cars to capricious dictated Co2 emissions levels.This has been imposed on makers in Europe. It is strangling them. It is a capital destroying Co2 tax. This is not all, the Liberal Opposition is an enthusiastic supporter of another capital destroying C02 tax called:

OFFSHORE PETROLEUM AMENDMENT (GREENHOUSE GAS STORAGE) BILL 2008

And cognate bills. As their speeches disclose to each of the above C02 taxes, they are totally deaf, dumb and blind as to what they are.

Ian Macfarlane is somewhat clear on what ‘cap and trade’ will do to coal based energy firms -

“thousands upon thousands of workers in Australia will simply lose their jobs. They will lose their jobs because the coal industry will not have a future under that government’s flawed carbon trading legislation.”

He is still, though, in a muddle. Has it occurred to him that whatever an ‘unflawed’ plot might be, it will still wipe out energy firms? Funnily enough, it is what Turnbull declared recently:

Macfarlane has swallowed the Green’s lie:

“Greenhouse gas emissions is probably one of the most complex areas that the government and opposition are going to have to deal with… There are a whole range of reasons why that should happen, but the single biggest reason is that we must lower greenhouse gas emissions….

“There are those who are opposed to this legislation per se. It is going to be an interesting time in the Senate for the minister responsible for this legislation, as the Greens oppose this legislation out of hand. They are making wildly erroneous and inflammatory claims that CO2 cannot be stored safely underground….Companies that are operating brown coal power stations in the Latrobe Valley will seek the opportunity to store gas in that area.”

His objection is the Rudd plan is flawed, but if it is the right plan, it is ok:

“We need to get this right, and we pledge our support to a consultative process.”

Why didn’t Macfarlane pledge to the Liberal Party and decent modest Australian to eviscerate the Rudd Cabinet and, at that, also the watermelon reds in the Coalition, including Turnbull? Instead, he see nothing wrong with capital destroying taxes, so long as they are the right ones.

What could possibly be the right way? Oh, I know, when it’s a Coalition Cabinet destroying Australians through Co2 taxation. Ian Macfarlane is Shadow Minister for Energy and Resources and leads the Liberal Party position on the above carbon taxes. Another totally incompetent Shadow minister.

Complementing the bogus economics is the bogus science of:

Co2 emissions causes climate change.

So-called climate modelling eliminates physics, and this is what the IPCC models and those of other boosters do. Not even brief weather can be modelled. Models are bought from toy shops or the skilled can make their own model planes, ships and trains from scratch and insert model working engines in them. So, in contrast to the boosters of voodoo this as an example, a reading list on Solar Influence that includes -

“Bond, Gerard, Bernd Kromer, Juerg Beer, Raimund Muscheler,
Michael N. Evans, William Showers, Sharon Hoffmann, Rusty Lotti-Bond, Irka Hajdas, Georges Bonani, 2001, Persistent Solar Influence on North Atlantic Climate During the Holocene: Science, Vol. 294, Issue 5549, 2130-2136, December 7, 2001 (Originally published in Science Express as 10.1126/science.1065680 on November 15, 2001)

“Demonstrates 18,000 years of complete solar control of climate fluctuations as measured by ice advances and retreats in northern hemisphere. Supplemental data on Internet version provides graph of solar variability for 20th Century. Data based on Carbon 14 and Beryllium 10 isotopes and ice rafting events.”

(cf. a Warwick Hughes site here, and frontpage here.)

It’s a funny coincidence but as Louis Hissink wrote:

“…coal and oil… if these two substances are actually continually being formed at the lower crust and continually depositing hydrocarbons or collecting in… in the sedimentary basins, then the concept of Geosequestration of CO2 becomes one of the more loonier ideas contemplated by the Climate Changers

“The earth with its deep hot biosphere is continuously exuding CO2 and Methane, amongst many more carbon based liquids and gases, and which often erupt to the surface with explosive consequences as the general buildup of subterranean pressures is released, and now we have this ill-conceived idea of forcing CO2 back into the ground.

“…. geosequestration is much like grabbing the exhaust gases of an automobile and then pumping them back up its exhaust pipe in the hope that overall the CO2 production from its exhaust is stabilised. The gases are not going to stay there because over time the slow buildup from the mantle will release the sequestered CO2 back into the atmosphere. Rather violently one suspects.”

Then there is the elementary scientific point, Co2 is not a poison. It’s the essential ingredient for all plants, animals and man to exist. Oh, and carbon in its gas phase (Co2) is a miniscule trace the atmosphere that cannot form as the crazies claim, an earth heating blanket. Neither doe carbon molecules remain in the atmosphere. It dissolves in water right from the gas phhse of water, and is washed to earth to do the tremendous work carbon does.

What is to be made of Liberal Party MsP:

- Who cannot spot the above fraudulent Bills for what they are, capital destroying carbon taxes, because they are illiterate in economics;

-Who cannot eviscerate the Greens’ lie because they have no science and are too lazy to call it up over the internet by the equivalent of truckloads;

-Who then compound all this stupidity by supporting a loony idea that destroys capital and is a ‘cave-in’ to the Nazi Green Party and Rudd and his band of demented fascists?!

The same questions can be asked of their advisers, as vividly demonstrated by Julie Bishop’s advisers this week. Adding to the stench is that they are all kept by the taxpayer and they don’t do a ruddy thing.

They are paid to advance genuine Liberal principles. They are paid to fight for genuine Liberal principles. They are paid to eviscerate the likes of Rudd, Wong, Milne, and Brown with meat cleavers. What do Australians get for their money? A pack of spineless cowards who run up the white flag each time the bastards they are supposed to shoot open their fat mouths. No, this is a mistake.

They don’t run up the white flag all the time. They join the watermelon red cheer squad for some rotten Bills (as in rather a lot in addition to what they put through when in Office). Their test is, they must be rammed down on Australians ‘the right way’.

Destruction through carbon taxation is what Tony Blair and Gordon Brown have imposed on the British. It is destroying energy firms, and other companies are following. The British are watching their incomes burned, their jobs vaporise, their savings wiped out, and the ‘brains in the Liberal Party’ are pleased to inflict the same punishment on Australians.

The commentariat

The supine in the Liberal Party are entrenched in their aversion to even a semblance of intellectual curiosity by the media.

It’s a habit of mine to engage the man in the street, to find out their concerns, and what they make of things. Then, if it arises, accordingly inject a few points such as the impact of Co2 taxation. The most frequent response is:

“But this is never raised and debated in public… Why isn’t it?”

The answer is, not only the hard Left, but the ostrich “Right” suppress debate, suppress free speech. Debate is anathema to them; this is why Professor Sinclair Davison ran away after Jackson’s demolition of his IPA paper on manufacturing (I mean to say, Davidson hasn’t even addressed: the reverse of the J curve must be true - which Jackson showed in his article).

Who is there?

Janet Albrechtson, who called for a Right wing take-over of Australia, and helped destroy the fight for free markets.

Andrew Bolt, who has botched things rather badly, from labour markets to C02 taxes. This is plain wrong:

“Let’s focus instead on this: can Rudd’s plan work? Will his emissions trading scheme slash our gases by anything close to what he wants?

There are two reasons to say that it hasn’t the slightest hope. That all Rudd will do is raise green taxes, not cut greenhouse gases.”

Bolt doesn’t see that Rudd will cut gases by destroying capital. Bolt speaks of costs, and rising prices of energy to consumers and doesn’t hit the target, which is, the real cost is the destruction of production. The rest of it, as bad as it is here, Carbon pain is priceless.

He doesn’t have a clue as to what to attack, and is not armed to attack, and he refuses to bring in those who can help him. He wings it and thus sticks another knife into the back of a fight that must be won. Making Bolt’s efforts sillier is his advocacy of the C02 tax called ethanol production.

Ethanol production is itself heavily subsidised. This alone shows it is not economic and capital is thus being consumed. The diseconomies of ethanol are worse than this. It is destroying food production. To make it even better, Parliament put through legislation to force transfer of land into forests, to be preserved for a century (!) as carbon sinks - another Co2 tax. Bolt has never defended what he supports and has never apologised for it.

The whining “Right” bang on about the nasty Leftists dominating the media, the lies they tell and their efforts at censorship. What about these great heroic Rightwing journalists, and for that matter those who are also supposed to be economic commentators? Nothing, zip, but for a constant flow of stuff ups passed as tough journalism.

The problem with this lot is: they are so incompetent and extremely feeble with it that they do not stir Liberal MsP and their advisers. There is nothing to force them to reach for the panic phone and demand they be introduced to sources who can advise them. Nothing to stir them into a bit of effort; and into a bit of fight. Nothing. The diseased Left observe this and are pleased.

The anti-Free Market Clunker Tanks

The IPA’srecord of advice is how Cabinets can strangle firms to death the right way. This sums up their performance on Co2 taxes.

Centre for Independent Studies has achieved the same. Then found itself an even jollier roll, telling stupid MsP how to wipe out Australians ‘the right way’ through Co2 taxes. (It is yet to explain it’s lobbying activities, and its conflicts of interests).

Now, while having noted Bolt’s limp attacks on Leftists over the Greens’ lies and Co2 taxes, he his strangely silent on the CIS‘ thuggery and treachery. Why, Bolt? Let’s reel off some considerations:

Michael Kroger and Peter Costell
HR Nicholls Society.

His lips are zipped tight with super bond glue, as a recent item by this brave reporter shows. In it, he enthusiastically slams Rudd, using a statement by Garnaut that leaves Rudd hanging. He did not go for the CIS’sjugular over Co2 taxes.

Again, he failed to hit what is wrong, including Garnaut’s economic modelling, which as of physics models nothing. He needs to start reading Brookesnews. Shostak swiflty disposed of economic modelling in an article on Brookesnews. Jackson neatly demolished Co2 taxation for what it is and the CIS’s false claims with it. Yet, Bolt would rather cripple a fight that must be won against dangerous measures than do that.

Bolt is in with them. He’s one of them. He’s fed his lines by them. He covers them. Ditto the CIS. For some odd reason the words gutless, unprincipled and stone dead idle occur. So, in case they mean anything, they are trotted out. Murdoch must be a charity bin. After all, Murdoch, $3,000 a week is a lot of charity to apply to a spineless ‘wait for the telephone to ring sitter’.

Tim Blair, covers the covers. They all belong to a closed group. Tim Blair sees nothing wrong with the ‘Rightwing’ duds. He sees nothing wrong with Bolt covering for duds. He sees nothing wrong with the Right’s failure to promote talent, and their suppression of talent. He sees nothing wrong with the Right blacklisting of talent. Indeed, this is why Blair was so happy to see Jackson blacklisted, he cheered for it.

These highly paid bastards, Blair, Bolt and Albrechtsen are reinforcing the slobs in Parliament and their inbred family members pretending to be advisers. These three mean that Parliamentary seat warmers remain secure in their cretinism. These jokers are doing their bit to destroy not only the Liberal Party, but bloody Australians with it. This is how hot these three bozos are. Again, the hard Left see this and are well pleased with these three clowns.

All up

Why is Rudd and his pack of sponging little dictators in Office. It’s rhetorical question only for:

Rudd and co would not be in office if it were not for the sodding bungling “Right”. We wouldn’t face being wiped out by Co2 taxes, central planning and all locked together by coercion, if it were not for a pack of cripples, who daily manage to crawl out of bed each morning only to piss on the toes of genuine Liberals and modest Australians, and then crawl off for a good all day snooze in comfy chairs.

And there was nothing to object while watching it.

No-one in the Liberal Party spotted what was wrong with Julie Bishop’s excruciating attack on the Rudd Cabinet over economics, before she delivered it Monday. Not Bishop, Not Turnbull, not any MP, not any of their advisers. Neither did anyone spot something else wrong, the plagiarism of the WSJ article.

Worse, no-one in the Liberal Party spotted the plagiarism until yesterday, in Parliament. The ALP directed them to the difficulty, because someone in the ALP (and it wouldn’t have been any MP because ALP MsP are as thick as solid concrete too) spotted it and kindly corrected Bishop and the Libs, from the floor of the Lower House, during Question Time.

BOWEN:

“The Treasurer has informed the House of some fundamental
errors by the shadow Treasurer, and it is with a heavy heart that I have to report yet another error by the shadow Treasurer. In her now infamous speech on Monday, she said this at the dispatch box:

“It is symptomatic of a government that is unsure of where to go or how far to go. This is a government that says it wants to promote Australia as a financial services hub and then reduces withholding tax for foreigners.’

“I even checked the Hansard this morning and it is still
there. Sometimes mistakes can tragically disappear from the Hansard but this one is still there. She came in in full flight, the Wall Street Journal in one hand and a pair of scissors in the other, and off she went to launch an attack on our withholding tax policy.”

Wayne Swann replying to a question from Bishop:

“Well, I do know that you need a distraction because there has been a lot of action happening today. I would just like to quote from the Australian online today:

“… the offending paragraphs of background were provided for her speech from the leader’s office.’

“Is that true? Who provided it? It says provided ‘from
the leader’s office’. It continues:

“Ms Bishop was understood to be “ropeable” about the error
but willing to take the public flak rather than blame others.’

The blame game is everywhere on that side of the House today. She has been caught out. She has got no excuse for it.”

Union thug and dunderhead Simon Crean:

“…the new shadow Treasurer, and she is the one in this place who wants to be judged on her economic credentials… But on Monday—I think her first intervention
since her appointment to the job…”

Albanese:

“You can understand why they are worried… so defensive… this is now the sixth gaffe in some three days—two a day is the average of the member for Curtin. When it comes to plagiarism, when the member for Curtin became the shadow Treasurer she did not ask for extra staff—she asked for an extra photocopier in her office!

“…the shadow Treasurer was caught out- plagiarising, and then caught out doctoring Hansard….”

Swann again:

“So all of this is an elaborate camouflage to hide the embarrassment of the member for Curtin. As usual, it is the cover-up that really pings them.”

“Asked why he had just sacked one of his ministers, Clement Attlee, Britain’s first postwar prime minister, replied: “Not up to the job.”

The anecdote introduces a Wall Street Journal article, Britain’s Brown Bust, applied to Gordon Brown. Bishop was never up to the job of Shadow Treasurer, and this was before her own “WSJ” speech. This is revealing about Malcolm Turnbull and many a Liberal MsP. After all, her time as Ministeress for dumbing down Education should have warned off even the thickest Deah Leadah from appointing her to anything more difficult than flobbering around on the backbench.

On the ban on short selling, while Turnbull is a complete economic illiterate, he as he boasts made his way as a lawyer into merchant banking. While it might seem pedantic, but merchant banks also engage in financial market operations. It might be assumed, therefore, Turnbull would be at least familiar, have some sort of inkling as to why short selling and long selling are important. It, therefore, might be assumed he would have an inkling why bans and control of these actions causes extensive damage. It is painfully clear he cannot even muster this.

Turnbull, as Minister for the Green Cult of Death Environment under Howard, declared the Government must forcer prices up of energy, water, and other commodities. His rationale was, because “as everyone knows, it delivers greater efficiency in their use”. This ignoramus wants to be Prime Minister! One thing is cleared up, the Fuhrer principle is alive and jumping in the Liberal Party and to check, new Liberal Senator in his maiden speech gave the game away -”us leaders”.

NB.
It is low and falling prices that show greater efficiency. Of course, this very wealthy pooh bah, Turnbull, is insulated from what he would care to inflict on Australians - just as, say the Rudds are.

Another NB, Rudd’s wife is no entrepreneur. The sheer amount of transfers into her firm, and other firms by each ‘tier’ of government, bound up with hiring and firing regulations and novelties concerning public service hiring and promotions is why. At least both the Turnbulls and the Rudds have three things in common, the desire to raze Australians, play the dictator, and are insulated (to a point) from the force of their psychopathic aims.

Not really, it’s only the fungus “Right” doing this.

The “Luxury car” tax bill and amendments have been passed. Tucked away in the details was a carbon tax. This carbon tax was supported by the Liberal Party. What drew my attention to this appalling act of treachery was a member of the Australian Nazi Party the Greens, Christine Milne. This vicious piece of work pointed it out yesterday, in the Senate. Next, Family First have linked up with the Greens and the ALP.

“Senator MILNE (Tasmania) (5.29 pm) ‘But now that I know that the coalition supports the standard of 120 grams of CO2 per kilometre…I am really pleased… , I agree with Senator Abetz that we should be getting down to 120 grams per kilometre as soon as
possible…”

Abetz lead the Liberal Party’s position on the ‘luxury’ car tax. Consider it, the luxury tax is one more stinking burden heaped onto the backs of Australians and yet it is severable from the Co2 tax. So, while the Liberals howled about the impact of the luxury tax (in this they were ineffectual as it was) they happily supported a tax that is capital destroying.

Milne used Europe as an excuse for the tax. This is the lemming fallacy; the Europeans are being forced to jump over a cliff by their lawless, socialist governments, so we must do it too. What is Abetz’s excuse? Oh I know, Liberal Party seats are occupied by arrogant, ignorant, lazy bastards and hire the same types as their advisers. It was Packer who said of Malcolm Turnbull,

“I wouldn’t want to get between Turnbull and a dollar’.

It needs an update, “I wouldn’t want to get between the whole bloody lot of these parasites and destruction of Australia.”

It was Kroger’s strategy to let the ALP ruin Australians and wait for voters to run crying to the Liberal Party. Then, he and the blobs will repair the damage (these morons can’t even tie their own shoelaces). The strategy is a consistent failure and, conseqently, it’s been updated.

The Liberal Party will do their level best to help diseased leftists destroy Australians. This way, they can sit in the rubble that once was Parliament, jabbering about grand plans and “build’n’ dah nation” through marvellous ‘laws’ to, oh, what, feel holy? To feel they are doing great things, as they are now?

Look at the above, Nazi Greens, Family “screamingly stupid venal socialists” First Party, and the ALP. Not too long ago, certain ‘rightwing’ charlies had a great laugh, something about “bong heads”. They also laughed at the statement the Greens and the other diseased Left fronts are being handed major victories. Here’s the hot flash:

What the Libs did in Parliament was hand another great victory to these totalitarian followers of a death cult. The slobssnoring their heads off in Liberal seats, and their advisers having a good lie down in the office, felt pleased with themselves. This is not all:

The numbers of the Hot Red Nazi Greens Party has received additions in the Senate. With, for example, this cult’s mantra brainwashed into children in schools, the reality is, they are emerging as a major Party, while the Liberal Party is being shredded. In the Senate, it facess extermination; the electoral numbers show this is the threat.

Milne and her fellow totalitarian thugs smugly stand up in Parliament and lay out their demands. This is the original victory. Without great numbers, yet three watermelon red former Ministers in the Howard Cabinet caved into the bums and their demands.

Smugly… because the completely stupid thumbsuckers clinging like Tarzan Grip to Liberal seats, who should be defending freedom, don’t have a clue as to what they are facing and must be fighting and, besides, they love sucking their thumbs all day and blowing bubbles. That’s all they do all day in Parliament – ah, an error.

Yesterday, the Liberal Senators decided to vary their routine. Cameron stood up and came out swinging and he hurt them and it showed, because they were shrieking, literally shrieking. Cameron is an ignorant union thug but one finds no fault in what he did: pulped a pack of ignorant, unprincipled cowards who stab modest Liberal Party members and Australians in general in the back, daily. This done, they then do their little trade and barters with the hard Left, and enjoy a group hug and kiss-in with the diseased Left. Well, they do have a good dose of the clap as in, they were all clapped out before each entered Parliament.

So, here we have it: Rudd about to ram down Soviet style central planning with a touch of Nazi and Mussolini fascism, as a sentimental gesture to the good old days, and the Libs stood up in Parliament and voted a: “We’re with you Rudd. We are bipartisan, shoulder to shoulder with you. Hey, if it’s good enough for those bottom dwellers the Family First Party, it’s good enough for us.”

In Europe, car companies are in deep trouble over the very same type of carbon tax that the socialist thugs grinding Europe into the mud imposed. This is what the bastards occupying precious Liberal Party seats did to Australians.

I’ll leave off for today, because one is warming up and we come out swinging tomorrow, beginning with those liars in the CIS who pumped hard for larcenous cretins seeking to become wealthy billionaires by razing Australians through Co2 taxes.

Ah, a slight correction: This is what donors have paid $20m plus to the CIS for, carbon destruction day.

Together the CIS and IPA have stashed away $30-40millions. Donors should have flushed the funds down toilets, literally. Toilets don’t cause real damage. Toilets are genuine humanitarians because they serve man, usefully and effectively and they don’t backstab good guys.

That was last week when ALP backbencher, a Mr. Murphy, stood up in Parliament and fulminated. His wife had not received a large enough serve of taxpayer subsidised, $7 a head, chef cooked lunch that. The chef did not know his place.

Murphy railed, the chef should have served his wife triple helpings served on a jumbo size plate aka a horse bucket. This was a terrible deprivation. The ALP were severely damaged, and thus it’s been all downhill since for the Liberal Party.

Yesterday was a shocking day for Liberal Party members and Australians in general. There was a consolation, it was watching these bone idle cowards bleed to death, after solid beatings all day long. The drawback of Parliamentary broadcasts from one House only is, it means missing the mince grinders at work in the other House. First, the least offensive of what transpired.

Opposition Deputy Leader and Shadow Treasurer, Julie Bishop, Plagiarised Wall Street Journal article

An entire article.

It was reported this morning on the radio. She committed this offence in a speech on economics. It was also reported that the Hansard record was altered to eliminate the damning evidence. It is with understandable glee that the ALP announced an inquiry to both the plagiarism and the falsification of the record.

Hansard is altered during the night to correct the record, rendering it as true as possible. This is one thing, but to erase evidence? Erasing evidence does not, to muse, erase the fact of the offence committed.

We have fresh perspective on Julie Bishop. She can no longer be called a dunderhead, which is a pity for it has a pleasing ring to it. It also means that she, as Turnbull’s Deputy and Shadow Treasurer, shows the Liberal Party is in far grimmer shape than hitherto assumed. This is a Party not merely dominated by ineffectual dumbkopfs. This is a Party heading only one way, imminent extinction.

A MPI.
Is this the speech in which the genius decided to demonstrate her powerful empty cranium’s capacity for smashing into sharp edges?

“MATTERS OF PUBLIC IMPORTANCE Economy

“The DEPUTY SPEAKER (Hon. BC Scott)—Mr Speaker has received a letter from the honourable member for Curtin proposing…

“The Government’s failure to provide leadership on the economic and financial challenges facing Australia.

Bishop lead the attack, if throwing buttered bread rolls at Rudd and Swann can be conceivably called a savaging. She commenced her masterful tirade by declaring economic success is pinned to leadahs and their ability to show leaders. Bishop might try explaining this novel notion to the principles of firms going to the wall, being strangled to death, and being starved of capital thanks to Co2 taxation like energy companies.

Then she delivered this terrible cut with the butterknife:

“International Court of Justice over whaling? He was going to lead the world in the charge against whaling. What happened to that global initiative? What happened to the case against Japan—to be prosecuted no doubt by the minister for the environment? It has just sunk without a trace.

“Then, of course, the Prime Minister recently announced
the establishment of a $100 million global clean coal initiative, where Australia is again going to lead the world.”

This sort of tripe occupies most of the speech. Towards the end she arrives at her indictment of Rudd and Swann. Unlike the US Gand the UK Government, the Rudd Cabinet was slow to ban short selling. She really ground them into the dust with this one, which is why Bowen (not Rudd or Swann), nose bleeding - he was reduced to dangerous laughing, stood up for the Cabinet and casually kicked her head in.

“In response to the international financial crisis. It is illuminating to see how botched the government’s response has been… Let me take you through a chronology because then you will appreciate how incompetent this government has been…

“In contrast to the measured approach of the SEC in the United States and the Financial Services Authority in the United Kingdom, the Rudd government dithered. They were like rabbits caught in the spotlight. You see, not a few weeks ago the Minister for Superannuation and Corporate Law stressed that the Rudd government would not ban short selling.”

There was something badly botched. It was the decision in the US, Britain and now the Rudd Cabinet to ban short selling. Short and long selling have some very important functions. One is that they stop wild fluctuations in the markets, which is what the bans are supposed to do but they won’t. The bans will deliver wild fluctations because of the elimination of this very important signal. This is bound up with the second major reason:

Short and long selling show expectations of the future. The question that must be analysed is what is therefore informing these expectations shown in short selling? To illuminate:

Supply of capital funds to energy companies have been cut. The market has written down these firms by over $40billion already. Investors see no future in energy companies and the reason for this is bleeding obvious: Rudd’s capital destroying Co2 taxation plans, bolstered by the Centre for Independent Studies.

What is driving the short selling has to be carefully stepped through, and requires solidly grounded economic reasoning. So how could not merely Bishop, but the Turnbull Shadow Cabinet leap to a shallow conclusion and whine that the Rudd Cabinet has been slow to impose a very damaging ban, which places more creeping control into the Rudd fascist Cabinet? Nothing, that is what is going on, nothing at all.

Nothing inside their craniums. Nothing inside their advisers, and nothing inside the clunker tanks. If this is the speech into which the WSJ article was inserted, it is understandable.

The blobs who dominate the Parliamentary Party, devoid of a clue, had to appear brainy. Committing the Liberal Party to another destructive measure requires an excuse no matter how feeble. Darn, this is a mistake, because it assumes they can recognise it as such. Further, they do have to attempt, and it was a rather bad attempt, pretend that they and their advisers have a bloody clue other than their egos.

Their egos… this they understand. They smile and sodding Australians, being beaten up by each tier of Government, smiles with them. At last! ‘Alternative energy’, the sunbeam economy has arrived. Bishop told us why: She is a leadah, she smiles and, presto, Australia lights up.

Sundry notes

The Cabinet is also pushing a Bill for new permanent controls over short term selling.

It was ASIC that placed the current ban on short selling. ASIC is independent of the Government. This is further illumination of how facile Bishop’s effort was. Which Cabinet in the past was responsible for the legislation giving ASIC this ‘power’ over the market?

Lastly, the final section of the speech is where she inserted the plagiarised text. The style reveals all, which can be summed up: it’s compactness is a sharp contrast to the slops she dished up before the inserted text, and typifies all that she says in the name of the Shadow Cabinet and Liberal Party.

Update: it’s in, confirmed. She plagiarised an item by Paulson of the US Treasury and inserted it exactly where I identified it’s incorporation.

This is what $20 millions plus in donations has bought.

Continuing an interesting exchange, Mr. Steve Edwards remarked:

“I think it’s highly unfortunate that these MPs are making such nakedly collectivist arguments in Parliament. However, it’s not so much a function of listening to the CIS, but of failing to take on board any of the CIS’s actual positions.”

This is a candid admission of failure. $20 million plus later between the CIS and the Institute of Public Affairs for failure. A success achieved over nearly 12 years under the Howard Cabinet, and a decade of Kennett. The wash up is failure, marked by the blind, deaf and dumb dunderheads occupying Federal and State Parliaments who resemble nothing so much as a Brahmin version of Helen Kroger’s salon for collectivist Brahmin and this isn’t that far from the truth:

The wealthy Wootton family funds hard Left fronts. Here’s another blithering, handwring fool, RICH: Victorian Socialist Left plot to milk millionaire’s moolah. The heir to a fortune can’t dirty his hands in engaging in the hard muck of production, so instead he idles away playing at politics, having thrown his lot and money in with diseased Leftists.

The CIS scoreboard
- Defence of free markets, an unmitigated disaster. Failure.

-Demanding Co2 taxation, and lobbying on behalf of interests, for Co2 taxation. Failure.

-Confronting the ACTU and the hard Left. Failure

-Promotion of talent. Failure.

-Engaging the public. Failure.

-Failure to engage in activism to reach out to the voting public. Failure.

All these failures have two things in common: Intellectual failure and moral failure.

Intellectual failure

Having raised the relationship between economics and law in previous articles, the former is the ground of the second, let’s sum it up:

Economic laws is the rule of law. This is what common law reflects, upholds, and asserts against larcenous Cabinets and bureaucrats.

Perfect competition is not the rule of law, it is the assault and overthrow of the rule of law in favour of lawless statists. This is why reading fine exponents of the Austrian school, Jackson, and Shostak, one also reads men who are seriously concerned about principles. This is why, Mr. Edwards, one bangs on about the unprincipled “Right”, they are devoid of principles, the rule of law.

This is why States and Federal Parliamentary wings of the Liberal Party are wastlands filled with the walking dead, zombies, and they are Statist zombies. This is why the scrofulous Right flung Bracks, Brumby and Rudd into office. This is why, as incredible as it appears, Rudd and his Cabinet of Soviet style planning cretins are kicking their heads in daily.

Moral Failure:

This follows intellectual failure. No principles, no fight, or certainly not the right fights. It is also reflected in their statism, what they did with the STO and OPA. Indeed, what Bracks and Brumby have deepened is not Victoria, but Vic Inc. and it was the Kennett Cabinet and their advisers who set this up and made Brackistan possible.

It is why Rudd and his fellow fascist thugs are in office. It is why Australians thanks to Bracks, Brumby and Rudd, are forced to own forced labour in Chinese prisons, as I related yesterday. It is why thugs in NSW freely go about threatening firms and staff, as in Iguanagate. It is why the Liberal Party pursues none of the scandals and culprits responsible for them.

It is why the CIS is lobbying for Co2 taxation.

Cowardice

From the above two failures, the third failure follows, Cowardice.

Not once do they go for the Left’s jugular. They know, Steve, because they are intellectual failures, the diseased Left would simply break their fingers, legs and backs in any public confrontation. Yet it is worse than this.

It is despicable to see these “Rightwing” bruisers run crawling to Leftists, and apologising to them whenever they offend the sensitivities of the Left. The same is to be observed in Parliaments: Liberal MsP, or rather MsP pretending to be Liberals are as likely to hurt opponents as pet mice.

Politics is a fight over principles. Voters must be convinced. Fighting means there are some who must be hurt and yet no diseased Nazi Greeny, or hard Leftist in the ALP has ever been throttled by Liberal MsP, CIS, IPA and HR Nicholls Society.

Vice
Follows.

The treachery of the nepotistic Left:

They don’t hit the hard Left in public. They run away at the mere sniff of trouble. Instead, they slime and backstab genuine Liberals. They, Mr. Edwards, are a pack of vicious old housewives.

The hard Left are cultists, they believe in their cause and work to realise it. The Right, not giving a stuff for principles, are only out for themselves, position, money and feeling oh so important. This is why in Victoria a talentless mediocrity in one Michael Kroger was able to seize control of the Liberal Party, and he doesn’t even hold an office in the Party. This is why he bestowed on the long suffering members Julian “Iron Man Jules” Sheezel, who is so thick he has to be instructed in how to use email; a bungler whom Kroger decreed members be compelled to pay $4,000 a week. That’s a large sum to pay for the constant daily stream of cock-ups that flowed out of his office.

Then, there’s “Potty Mouth” Barry Russell “the toy dog” Hanan. But the greatest disaster is the sheer number of ignorant boobies Kroger and Costello have imposed as MsP. They are in blue and safe seats. The only seats that can be defended in the forthcoming elections because, thanks to Kroger and his Brahmin backers, and their contempt for members and principles, they have blown the membership away. Oh, and this means many of those seats will be turned marginal or lost because they are heading south. Blue ribbon seats such as Corangamite and Portland have been reduced to marginal, held by 1 or 2 percent. Oh, and ALP seized Corangamite in 2007.

Corangamite was a blue ribbon seat, and was a Liberal Party dynamo of Western Victoria until Kroger and his stick puppets destroyed it. City blue ribbon seats will follow and an indication of this is the once blue ribbon seat Alexander Downer held in Adelaide. It’s now a marginal, held by a measly few percentage points.

While Western Australians loathe the WA ALP for what they are, Leftist destroyers, in the recent State election they did not run to mummy, the Liberal Party. The Libs, devoid of principles and possessed of contempt for the man in the street, do not believe the effort is required, voters will do as they are told or out of fear. Voters didn’t run to mummy. The Libs agreed to an extortionate deal with the Gnat Nats who jobbed them into office.

No debate

There is no debate in the Liberal Party, it’s forum and think tanks, for all the above reasons. This also means there is no feedback mechanism to check for mistakes and to hammer matters which are not the private province of a self anointed elite. It is about principles that are the reason why Liberals join the Party, and ultimately have force for Australians. Principles have to be constantly hammered out and debated.

Those destroying the party exist in a loop, bound to undergraduate texbooks buried in the anti-free market falsehood of perfect competition.

The closed loop, lusting for power, seats, and two think tanks with $20m plus in their vaults, make sure it is set like a slab of concrete on top of Liberals. This entrenches why the Party is being destroyed and great causes undermined and blown up. New talent is not encouraged, it is squashed. This is why the Party and forums are filled with the same aging bodies, new talent ups and leaves when it dawns upon them that they are meant to be good serfs only.

Kroger manifests another aspect to this. The mediocrity fears talent. With his tight grip over the Party, it is mediocrities who have been promoted within the Party. No-one with brains, learning, spine and guts has been allowed anywhere near any post. This is a small and cowardly man. Brave, generous men do not fear talent, they seek it out because it brings success. Kroger typifies the nepotistic “Right”; moral, cowardly pgymies.

It is why the CIS and the IPA have not applied the $20m plus funding fronts run by talent, and drawing in talent to assist them. Talent is a threat to Greg Lindsay and his band of witless blunderers. It is why the lot of them, Kroger, IPA CIS and HR Nicholls Society sooner destroy good causes, it’s themselves first and sod Liberals and Australians.

Principles have to be constantly hammered out and debated.

Before even contemplating offering for candidacy, even bright man has to be armed. This is why MsP are beaten up daily, they are not armed, never were armed and refuse to arm themselves. It is why they lose elections, they cannot take the fight to the man in the street. They are incapable of engaging the man in the street and opening up what Libs should stand for. Thus he fails to convince. Not only protean MsP either.

Members must be armed. They take the fight to electorates, or should and cannot. They are treated as serfs, gofers dumb help. It showed in recent elections in Victoria. They were as helpless at answering voters who approached them during campaigns, as were Kroger stick puppets jobbed in as candidates. This told, in the reactions of voters. This was in stark contrast as to how the ALP went about things. Voters were lost on the streets to the ALP; apart from all those Hugh Morgan and his fellow idiots in the HR Nicholls Club, Minchin, Sheezel, and Kroger lost because they destroyed the solid, sound campaign for labour market reform.

The above are not failures, Mr. Edwards. They are shocking disasters that unfolded out of the failures of the sclerotic “Right”. Worse, more disasters are unfolding now, and new ones are to follow. If this is success, it is a stunning achievement - rather as rabbits caught in headlights and flattened. The difference is, no-one sane goes out of their way to throw rabbits under cars but the lot wrecking Liberal causes do, except it’s the Liberal Party and they keep throwing it under a ruddy great road train.

Resumed
This will be continued tomorrow. Pleasures, such as slow lunching in good company, should never be hurried. For today, in sum:

The singular point to the disasters and looming disasters, and Australia is now in deep trouble, is the origin, intellectual failure. The CIS and the IPA are not advancing free market economics, they are discrediting what is thoroughly sound, thoroughly principled, with the weight of history, and the weight of the history of economics behind it: Mr. Jackson, bye the bye, demonstrates this in his articles. He shows it in the quotations and citations he supplies. Jackson is saying nothing new.

What is telling is the material published by the clunker tanks, IPA, CIS and, HR Nicholls Society, are devoid of such grounding. Then, we’ve given the reason why they are intellectual voids above - they are stuck in undergraduate textbooks shot with fictions and fallacies and nothing else. Walking Blanks, and this lot pretend to be defending Liberal causes, pretend to be advancing free markets! Donors should be honest: if they want to fund Mickey Mouse then they should have the spine to come clean and go to Disneyland and hand over the $20m plus dollars to the mouse, instead of his close cousins. At least Mickey will earn some of the funds, because he is honest about what business he is in and sticks to it, entertaining children.

They are destroying the effort required to advance it and for what? The lawless, statist, anti-freemarket rubbish of perfect competition. With it, they smear economists such as Mr. Jackson, whose grip is thorough and grounded in solid scholarship and reasoning in economics. They do it for the above failures. This is why the likes of the CIS wind up pushing capital mass destruction, and the absolutist measures required to impose it, through Co2 taxation.

In, Good job figures point to gloom times ahead, Mr. Jackson pointed out:

“We have been told that the Reserve Bank’s statistics on unemployment is painting a fairly benign picture of the economic landscape. Let us now look at the Reserve’s monetary statistics… in May, a 6.5 per cent deflation in five months. I also pointed out that the June figure of 224.7 suggested that the Reserve was trying to reflate… The latest statistics show that the June figure has been revised upward to 232.5 and now stands at 232.6 for July. None of this is good or clever.”

Having read the article in the morning, in the afternoon Treasurer Wayne Swann delivered a ministerial statement to Parliament. What he had to say is typically dreadful. However, one draws attention to the following:

1. “A little over a year ago, global financial markets began a fundamental repricing of risk. Few commentators or market actors foresaw the turmoil this would inflict on global financial markets in the period since then.”

That’s because the ‘mainstream’ commentariat are lousy economists. Two gentleman have predicted the now unfolding dangers, Mr. Jackson and Dr. Frank Shostak, and in this regard here is another interesting read, by Shostak:Can the US Government save Fannie Mae and Freddie Mac?

2 “We have taken steps to support liquidity in the government bond market to ensure our broader financial markets operate more effectively.”

Injecting ‘liquidity’ is, to use what is apparently a quaint term, inflation - money creation. The Government cannot do this, the RBA is independent of the Government. It looks as if Swann parroted the head of the RBA Mr. Glen Stevens, because it seems the RBA is proceeding as Jackson lifted out, it is trying to reflate.

What we have is the RBA culpable of massive money creation, over many years. This set in train the recession now emerging into clear view. Then, it deflated. Now it is trying to rectify the keynesianitic disease it inflicted on Australians with another bout of money creation (don’t try this at home unless you wish to enjoy a comfy room in Hotel Prison).

Lousy economics leads to headless chook syndrome , a schizophrenic headless chook at that. Turning back to 2005,

“Recently Glen Stevens, Ian MacFarlane’s deputy at the Reserve Bank of Australia, warned that the economy was approaching capacity constraints and so growth would slow as output failed to keep up with demand, meaning monetary expansion.

“This is truly bad stuff. Unfortunately this is the kind of advice that Costello is getting from the Treasury, his pals in the private sector and the media. And he’s buying it.”

(Peter Costello’s economic fallacies and the credit crunch, part II)

Swann has bought it too, but this is no surprise. The Rudd Cabinet are fascist thickheads. It is, therefore, highly proper and consistent of them to get things completely wrong, including destroying Australia by the Centre for Independent Studies backed Co2 taxation, on top of their ‘grand plan’ for Soviet type central planning. What is unacceptable is the Liberal Party spouting the same arsenic, but look at who advises them.

Wayne Swann’s statement amounted to, “how do you take your death by arsenic poisoning? Painfully, or less agonisingly?” Deputy Leader of the Opposition and now, as of yesterday, also Shadow Treasurer, Julie Bishop (yes, this incompetent and dunderhead) responded. She didn’t bother letting her opposite number kick her head in.

She was considerate in saving them the effort, though it denied them pleasure. In this, she acquired her one and only skill. This must mean, according to Bishop, she is an undergraduate in physics and you can tell she is: She managed to kick her own head in.

“We are also benefiting from the growth in Asia, particularly China. The diversification of our exports has reduced the volatility of the terms of trade. Australia’s flexible workplace relations laws have also helped by providing job opportunities. Reform of the tax system has also been crucial to provide dividends to Australians and to improve the competitiveness of our tax system.”

As appalling as this, her capacity for self crippling rose higher than the little Sun King Boy Kev Rudd the Dudd’s flamboyant potty straining efforts:

“Instead of lowering official rates, central banks have tried to separate their monetary and liquidity policies, preferring to provide into the global banking system a massive amount of cash.”

She preceded this mush by saying:

“In their mad rush to trash the coalition’s economic record, the Treasurer and the Prime Minister declared that inflation was out of control. The Treasurer’s now infamous declaration that the inflation genie was out of the bottle, on the day before a meeting of the Reserve Bank, was reckless… This had a major impact on business and consumer confidence at precisely the wrong time of yhe economic cycle.”

One thing is painfully clear: There is no Opposition to the Rudd Cabinet of pantalooned cretins. There is no Liberal Parliamentary Parliament. They share two bananas between them and they call them their brains.

The bananas are Institute of Public Affairs, Centre for Independent Studies, and HR Nicholls Society. Darn, make it three Bananas. Bananas go off and squish easily.

Another thing about Andrew Bolt:

Andrew Bolt must be receiving his economic advice from Bishop. Does this mean he accepts her authoritative judgment, sicence is a skill and that he should follow her example and admire and “cherish” scientists. This, can’t help pondering this, is all very disturbing; wielding loo paper is a major skill. The Club of dunderheads admire all skilled Australians.

Bolt wrote inflation is ‘the price of a successful economy’. That, Costello handed this successful economy over to Swann and Swann wrecked it in a few months flat. What else is to be expected of a chump also put in a great effort destroying the fight for freeing labour markets, and doing a Hugh Morgan in the process. This $3,000 + a week baby telephone sitter told modest readers, at Murdoch’s expense, modest Australians are ingrates or else they would realise how well off they are.

To which, Morgan, Bob Day, Des Moore and Ray Evans told modest Australians they are not only wealthy ingrates. They are so wealthy they should be given massive pay cuts to reduce them to their proper place, destitute serfs. It never occurs to this lot to lead by example.

Of course, Bolt would not commit such cretinous, callous nonsense and do a little bit of what he is paid $3,000 a week to do: lift a phone and chat to someone who could advise him soundly. Oh, I know why can’t do this.

The buffoon is in with Kroger, Costello and the Idiot Club otherwise called HR Nicholls Society. Oddly enough, so too is Tim Blair. Therefore, both of these ‘guns’ know all about blacklisting any genuine Liberals and sound, rock solid economists such as Mr. Jackson and smearing their names, and dragging their reputations through the mud. Perhaps, however, they don’t know why their smelly Rightwing pals do this, though they join in the fun.

It’s because their pals are afraid of being overshadowed by Jackson and, indeed, any other genuine talent no one has heard of because this lot of Party Pooping wreckers deliberately suppress talent in Liberal Party and think tanks that are supposed to serve and support Liberal Party and its causes, as opposed to destroying them. Thus, the Liberal Party is lumbered with parasitical morons such as Turnbull and Bishop, who make a jolly good lobotomised Darby and Joan comic team.

Darn, made an error. They can’t have been lobotomised, because this assumes there was something inside their craniums to operate on.

My friend and hunter of rare Stubbyholders, Strider, stated in comments:

“although I do disagree with Douglas on a lot of his CIS criticisms.”

I sat back and pondered this. What is the mistake, and where is it committed? The penny dropped.

Strider’s is a wry, droll, close wit, as his deadly articles disclose. The answer, therefore, follows: Strider has picked up on that certain expressions attribute too much intelligence to the clowns in the CIS. This is annoying because one takes care not to commit such an inordinate error.

I am indebted to my friend for spotting it. Rectification is medicine a man takes; it leads to great improvements in, for example, clarity and accuracy. It is medicine Institute of Public Affairs, Centre for Independent Studies, and HR Nicholls Society refuse to drink. The consequence of this irrational obstinancy are, sadly, public.

Instead of debate, they throw tantrums. Instead of reasoned argument, they resort to smearing. Why no less an Institute of Public Affairs and Centre for Independent Studies luminary than Professor Sinclair Davidson is afflicted with both conditions and the rest, such as intellectual enfeeblement. Their distaste for science is, therefore, fatal. Indeed, it is one’s mournful duty, having attempted to doctor them, to dig their graves and soon enough don the mourning suit and shove the striffs into a mass grave.

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