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November 24, 2009

A good laugh on yours truly’s birthday — yep I’m a Sagittarian — came from Natasha in her Madam Dafarge suit for — Conscience pollution reduction scheme — an Aussie context: The call has gone out for coalition Senators to listen to their consciences and cross the floor if Malcolm Turnbull decides to support the government’s amended carbon legislation. Expect blood on the floor. Begging questions like will it be red blood or blue blood or.. near-noir blood 🙂

By way of reply – I would suppose – to the disgraceful (Brit) Telegraph journo who recommended alternative energy investors dump their stock on the basis of a hacking(hey, not for wrongdoing which may bolster a whistleblower for instance) in order to disclose scientific collusion on global warming – the aussie Business Spectator – – says:

As the world moves to cheaper and proven technologies to deliver zero CO2 energy, coal assets will become stranded assets and the market will suffer a jolt of reality.

Additionally we learn of the Turnbull troubles (now with his own party members of course) per — Climate change has so far proven a tough ask for Mr Turnbull, who once staked his leadership on the issue and now faces another critical test when the government’s final offer is on the table. A negotiated deal is a good outcome, but only if he can get his party to back him on it. Some coalition members have vowed to cross the floor on the scheme – amended or not – reportedly leading to internal party suggestions Mr Turnbull should vote no altogether to avoid a very public show of coalition disunity.

Plus congrats to the RNZ’s “midday team” segment Worldwatch for its coverage of the above events. Sounding somewhat more objective I might say, indeed almost BBC-ish Next, we may learn of the kiwi government’s sewn-up soupa-doopa deal by Maori support for amended legislation. The point of which minnick hinted as potential in service-side kiwi branding. Bet on it! For global consumption of course. Yep. they’re even sending a couple of guys to Copengagen to act on behalf…

Reuters report — Sixty-five world leaders have confirmed they will attend next month’s U.N. climate conference in Copenhagen which Danish officials hope will bring strong political commitment for a new treaty to combat global warming.

More than a dozen current and former executives of the aerospace group EADS and its Airbus subsidiary will testify before a French regulator this week in a high-profile insider-trading inquiry that dates to 2006.(NYT)

On the money —

US amendment proposed by Grayson and Paul to require written agreement by the Treasury Secretary prior to engaging in any foreign currency swaps, passed. Ron Paul, you may recall, famously tabled motion that the Bush govt not drop the M3 money aggregate(pertains corporate money flows). He was ignored. IMHO cred came back for this latest bipartisan vote because the M3 would have shown much earlier the state of Asset-Backed Commercial Paper(ABCP), in particular how it held about 25 percent of commercial realty which, in turn, has been taking a bath in this recession. There’s a useful IMF doco download on this and other shadow banking specifics..

Sadowski@econbrowser says the stimpack adds only 0.1 percent real interest costs pa to GDP. Facts doubtless backstorying renewed equity investments for several quarters.

Anyone for gold at $1200 soon.?

FOD – Feature of the Day…

Doubtless oblivious to the “worst CEO in America”, and for why, the enzed Transport Minister Steven Joyce ruled out any kind of across-the-board vehicle fuel efficiency standards, judging them to be heavy-handed and expensive. However, visiting International Energy Agency (IEA), Dr Nigel Jollands, disagrees.

On Morning Report (7.19 mins into the clip, 19th Nov), Dr Jollands cited New Zealand for lagging behind the rest of the OECD with vehicle fuel efficiency. He said, “There is definitely a role for the government to mandate and regulate fuel efficiency standards of vehicles coming in.” – h/t: frogblog ( try them for the link )

AND.. now to sport..

Week 7 of the NFL season, the corporate types running the mighty Las Vegas sports books found themselves trapped in the unpleasant reality many have experienced in Sin City — paying out far more than planned and begging for mercy.

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