From the UK we learn how the Conservative Party have promised to cut the carbon emissions of government departments by 10 percent within 12 months if elected, saving some 300 million pounds a year. All in the cause of outing Mr. Brown who polling looks on the mend. Could a hung Parliament result?
Also on matters environmental the Indian Cabinet has approved $19B for solar energy over next decade in a plan to increase the nation’s leverage ahead of high-stakes climate negotiations in Copenhagen next month.
Meanwhile: Growth and recovery are expected in 2010 in most world regions, but the upturn will be modest, according to the OECD.
MSJ — On the Money..
Alan Greenspan’s economic legacy is slowly but surely deteriorating from that of one created by a “Maestro”, to the deranged hungover flashbacks of the most inept monetarist dilettante and plutocrat puppet in the history of fiat capitalism, according to zerohedge. Now fora TV have a 1 hour doco featuring Naomi Klein & Joe Stiglitz, neither of whom have taken kindly to AG and BB et al. Whilst keenly observing how Greenspan “took the mundane task of building bubbles and converted it into rocket science so complex that only a few people at Goldman Sachs figured out how to benefit from it.” Understatement, of course!
Chinese regulators are pressuring banks to raise more capital and slow lending in a clear sign of official concern about the sustainability of the nation’s credit boom.
South Korean pension fund to buy Aurora Place(Sydney).
‘Know your risk’ is the underline at Fitch Ratings. And with the competition making moves they have come out on their own to push a “brighter US retail outlook for 2010”. And the surprise of such a beneficial move ahead of real mood has one wonder whether the Australian Harvey Norman could spend any more chrissy promotion money!
Noted financial commentator, Martin Wolf, has come out on a firmer line, saying how the case for generous subventions to banks is to restore the financial system to health. Not to enrich bankers, particularly not those engaged in the sorts of trading that destroyed the system in the first place!
Tax ‘recoveries’ would pay for US Health reforms. Wouldn’t they just.
Kiwi FOD.. (Feature of the Day)
China executed two people for their role in a tainted milk scandal that killed at least six children and further sullied the made-in-China brand. Kiwi company Fontera involved(embroiled) in the scandal were initially tardy for a response to Amnesty International’s plea, and even when they came on to declare the penalty a tragedy there was little remorse attached. Allow me suggest, however, a more tangible reason for trying harder.
Sully China makes for quality importation and aggressive large market pricing (yeah riight the international webbed networks do fit a bland terminology rather well). Makes for better milk supplier(farmer) feelings back home. And pays! For capital raisings, debt settlements, what have you. But how about the front end of actual consumers, how might they look at you from their Saudi*-like position of vulnerability. You would surely want to retain an edge, particularly if it costs so very little, over other and highly competitive entities. Longer term. If only to build up all those claims on “safe” and “sustainable”.
*Reports from Riyadh by US Wheat grower reps reveal aggressive Canadian wheat pricing to these supposedly wealthy folks. Arising from Saudis moving out of wheat growing to conserve water. With bigger things at play example is served of how trade’s traditional suppliers will respond. Yep, in your market/s too.
Now to sport..
And the Crawford Report which is causing another ruckus in Aussie..
Oh Danny boy! 99! Wot luck! Still, on the bright side, take some wagering on how many cricketers scored 99 in an innings. I bet you there’s fewer of them than the ton-makers.. 🙂