25 January 2014

World Economic Forum 2015 should be in Detroit





Instead of the "oh so nice" politeness towards the vile and the corrupt, and the pleasantries, and the parties and the delightful atmosphere of an expensive resort.

They should congregate in Detroit and actually talk economics.

Talk about how a wealthy city has decayed because of industries that got lazy and were hijacked by those who cared about "the workers" first, namely trade unions.

Talk about how a city completely dominated by one political party, became corrupt, bankrupt and fundamentally incapable of delivering the basic infrastructure it monopolised.

Talk about how a city maximised tax revenue to try to catch up with its declining population, and simply chased more business and more residents away, except those too poor and too dependent on welfare or crime to want to leave.

Talk about what happens when a city once known for being the centre of industry and entrepreneurial spirit, becomes dragged down by growing government.

and yes talk about how the same people with that political philosophy now think it is more important to build a tram line beside a half-empty road, rather than ensuring the emergency services can respond effectively.

Shifting the World Economic Forum away from the pristine location of Davos will avoid one criticism, that it is a party of the rich and famous, and just involves the self-styled "elite" talking to each other somewhere that is nice to visit anyway.

Then every year it should be in a city that needs economic transformation, that will teach lessons of economics, and will appreciate the massive injection of economic activity that such wealthy visitors bring.

Yangon for 2016, or Bangui, or Karachi?

20 January 2014

Where is the so-called peace movement now?

The Times reported that the US Administration is claiming that the Syrian target hit by Israeli airstrikes in September 2007 was a nuclear reactor supplied by North Korea.

North Korea of course has developed nuclear weapons, in defiance of promises to the international community. It utters rhetoric constantly calling for death to the USA, Japan and south Korea. It has now been caught selling nuclear technology to Syria.

Syria is an enemy of Israel, sponsors terrorism, invaded and ran Lebanon as an extension of itself for years.

However, that doesn't matter.  

It isn't the United States, United Kingdom or any other Western liberal democratic state.  

It is basically a rule of thumb that if anti-Western autocracies engage in war-mongering, it doesn't get the so-called peace movement excited.  They excuse it because "well the USA has nuclear weapons", granting moral equivalency between a regime that brutally suppresses dissent and does not permit independent media or protests, and the relatively free West.

Update

On Syria it is more palpable.  The so-called "peace" movement happily rallies thousands to march against Western intervention in Syria, but never protest against Russian arming and assisting the Syrian regime, or Qatar or Saudi doing the same to the rebels.

No, you see "imperialism" is just ok for Arab states, Iran, Russia or indeed any country that doesn't share the political or cultural background of the Western world.

As it was in the Cold War, when the so-called "peace" movement constantly rallied against Western military spending and activity, and never protested the Soviet bloc, or China, is how it is today.

So-called "peace" activists are blind to militarism and violence from dictatorships that aren't allied to the West.  They are simply reconstructed anti-capitalist fans of violent revolution, and their self-styled calls for morality and peace are transparently vacuous.

16 January 2014

Air NZ wins "airline rating" award, so what? UPDATED

It's simple fodder for New Zealand "reporters" - a company called Airline Ratings, which is self styled as "the world’s foremost safety and product rating website" awards Air NZ "airline of the year".

So what happens?  The company press release is substantively replicated on the NZ Herald, with little analysis, just an interview from Air NZ which of course is happy to use it as a marketing opportunity.

However, did anyone think to ask who the hell Airline Ratings is, and whether there is anything substantive about this rating?

I know my first reaction (and that of some people on frequent flyer forums) was "who the hell is this"?

15 January 2014

The (last) pope got something right...

(originally 2006)

Now I didn't have much time for Pope Benedict XVI, as I am an atheist and oppose the church's obsession with controlling people's bodies, its fundamental sexism and inability to adequately confront those of its employees who have violently and sexually abused many. 

However, the Pope is a powerful man, one of the most important in Christianity. For all of the flaws of Christianity, precious few Christians engage in violence to gain converts - while many may be offended by media and statements that attack the religion, very few engage in angry rampages of violence and there are precious few examples of modern day Christian militia out to do violence (though they are not unknown in Africa). The time for that is past.

His speech at the University of Regensburg in 2006 has upset Muslims across the world - they are, matching the stereotype that is hardening in the non-Muslim world, by protesting angrily, making anti-American and anti-Israeli statements, burning effigies of the Pope - in other words, acting like uncivilised, brutalised deranged thugs.  Criticism is not taken as a reason to offer rhetoric or reason in return, but anger and violence.

They have acted exactly the way that the Pope rejected. In his speech he said:

"Faith is born of the soul, not the body. Whoever would lead someone to faith needs the ability to speak well and to reason properly, without violence and threats… To convince a reasonable soul, one does not need a strong arm, or weapons of any kind, or any other means of threatening a person with death"

It is a lesson many Christians have taken, but which far too many Muslims have not.  They seek to enforce their religion with threats and violence, treating the mind as irrelevant, not seeking to convince with arguments based on merits, but on fear.

That is the fundamental difference today, that is oft-ignored by all too many, especially on the so-called progressive left.

In many Muslim countries, choosing to reject Islam (which you are assumed to have been born with) is a crime.  The last known execution for heresy of a Christian was in 1826 in Spain.  No non-Muslim majority countries have laws restricting religion.

So when Muslims wonder why their religion appears "singled out", then they need only look at the behaviour of their fellow believers. 

It isn't Christians, Jews or atheists that people fear waging violence int he name of religion. It isn't apparent in most Muslim countries that there is tolerance for those of other religions or no religion.

Anyone who thinks that the appropriate response to those who don't share their views is to threaten them with violence, is uncivilised and barbaric.  

Unfortunately for Muslims, it is people of their religion who far too often undertake this behaviour.  

They have every right to hold uncivilised barbaric views of others, but when they cross the line to threaten violence against those they disagree with, they should reasonably expect the full force of the law.

The right to religion is a right to practice your own beliefs - it is not a right to force others to submit to them, or to protect you from being offended.

14 January 2014

Obesity - the Greens want to parent you

From 2006

The Green Party is supporting the Health Select Committee's inquiry into obesity and type 2 diabetes today. Of course MPs inquiring into obesity are the blind leading the blind, or as David Farrar puts it “like asking Black Power to inquire into gang violence”

Sue “ban or make it compulsory” Kedgley said “If we are serious about reducing the risks of obesity we have to find ways of reducing the overwhelming pressure on children to eat unhealthy food.”

We do have two ways, one is called PARENTS, increasingly incapable of deciding their children's diet, school and television viewing, the other is social pressure. What is more powerful that seeing how unpopular it is to be overweight, especially for girls? It can be cruel and soul destroying to be teased about your weight - and this in itself can have a profound effect (and also worsen it, by kids using food as a crutch).

The fundamental philosophical difference here is between:

1. Those who believe that obesity is a personal responsibility of people who eat too much and exercise insufficiently, and of parents of children who do the same; and
2. Those who believe that people are too stupid and incapable of choosing healthy food and exercise, and get seduced by big mean corporations “forcing” them to buy those things that they “can’t help but buy”.

Obesity in most cases is about making bad choices. Nobody makes you go to McDonalds instead of a fruit store. Nobody makes you buy ice cream instead of salad.

The Greens will want to tax what they see as bad choices, which are not bad if you eat them in moderation – this simply gives nanny state more of your money to spend on what the Greens want. The Greens also think that manufacturers of sweet or high fat foods are morally wrong – and should not be allowed to advertise their products when and where they wish (despite some reports from Sweden that have shown such bans to be ineffective).

I simply would say such moves increase the prevalent culture of not being responsible for your own life and choices, and treat people as children who the state needs to look after.

Who, other than a blithering idiot, thinks that eating large amounts of sugary sweets and deep fried food is good for you? Why the hell should we care if parents are too stupid to resist their children’s calls for bad food?

Update

Well I DO care about parents who let their children become morbidly unhealthy.  It raises the difficult issue as to when the state should intervene against parents who are deliberately or recklessly harming their children, because I am instinctively uncomfortable with people defining what that is.

Without a welfare state, this may be easier, and it may be easier without legislation that protects people from alleged discrimination by private individuals. 

For adults, it should be left to them, but to parents of children that are obese (and who exacerbate or don't care about the situation), is it about other relatives, friends and family caring.  I tend to lean towards the state intervening only if the parents actively take steps that are risking the child's life or being wantonly negligent.  

Meanwhile, if other people are concerned they should act.

13 January 2014

After Helen (and Phil, and David)

From 2006

Whether it limps along to 2008 or not, Helen Clark will not be leader of the Labour Party within three years. Caucus must be looking at each other and considering who the successor could be... so I thought I'd go through some of them:

- Michael Cullen. Well he could, but he's part of the same tired generation, ex. Cabinet Ministers..

Update

and that's where it ended.  Phil Goff of course succeeded and did an admirable job of ensuring Labour couldn't move beyond its core.  David Shearer has repeated this, despite being a rather decent chap, and now it is Silent T.

Labour's problem is quite fundamental.  Nowadays it touts class warfare and mild xenophobic rhetoric in the hope it can win support from the neo-Marxist Greens and the fear-mongering NZ First, but none of this is new.

Until it can be innovative, and seek to advocate more than just the usual formula of more government spending and regulation, it faces being outdone on that front by the Greens, and being seen as relatively uninteresting.   Meanwhile, the Nats can always say it is risky to vote for Labour because you'll get whacky Green policies with it - and despite the lack of serious scrutiny of the Greens, most voters run a mile from their politics.

National meanwhile is playing the semi-Muldoonist "safe pair of hands" approach, so that a plurality of voters are happy not to rock the boat.

So Labour looks like getting relatively nowhere in the 2014 general election, hoping only that the Nats might have to get into bed with Winston Peters, which ought to poison the Nats enough to give Labour a reasonable run at power in 2017 or sooner.

It's hardly an inspiring strategy.

12 January 2014

Egypt's problems wont be solved by elections

You see in Egypt the problem comes from the politicians and they arise from the culture.

Unfortunately Egypt has a culture of  kleptocracy, corruption and favouritism. 

When he was President, Hosni Mubarak enriched himself to the tune of US$42 billion.  This is scandalous but hardly unexpected, because politicians in absolute power will both use violence to retain power and will be thieving bastards one and all.  Yet this is what politics does.  By granting unlimited power to people elected or otherwise, they do violence to others, they collect money through violence and can use it to corrupt, and can be corrupted to change laws, grant contracts and the like. 

It is what politics can do and does, and liberal democracy doesn't contain it, culture does.  In the US, politics is corrupted because people seek favours from politicians in the forms of money or privileges granted by the state.  However, there is an independent judiciary and free press, so there are institutions in place that can contain this.

In Egypt this doesn't exist.  It is stuck between the kleptocratic authoritarian culture of the army, which has deep roots in business and the economy well beyond what should be its core role.  

However, Islam also has deep roots that mean that a significant plurality of Egyptians are quite happy for the state and religion to be as one, meaning non-Muslims in Egypt face serious risks of oppression and discrimination by the state.

So when foreign observers call for free and fair elections, that's all very well, but what is the reason for this?  What do they want for Egyptians?

11 January 2014

Iranians start to stand up

Following Egypt, Iranians protest against their gerrymandered theocratic "democracy", that allows any point of view as long as it supports the status quo.

Good for them.  Iran's theocratic dictatorship brutally suppresses political dissent, it executes more people than any country other than China, including rape victims and children.

update

OK so I didn't say much then.  However,  Iranians appear to have released their urge for reform by voting for the most reformist candidate they were allowed, who may - at best - ease the absurd economic policies that Mahmoud Ahmadinejad had inflicted upon them all.  Hassan Rouhani has proven himself to be at least amenable to diplomacy over confrontation and has reduced internal pressure for major reform.

However, let's not get too excited.  Iran still imprisons political dissidents.  Iran still executes apostates. Iran is still intervening in the Syrian Civil War on the side of the Assad dictatorship (primarily on sectarian grounds) and in Iraq.  However, its imperialism gets nary a peep of criticism from the so-called peace movement.

There is a long way to go, and Hassani wouldn't be President if the regime thought he might seriously undermine this theocracy.

Yet it is also clear that he has been brought in to save the regime from the ineptness of past leadership bankrupting the economy and sabre-rattling.  This does not include abandoning its nuclear programme or the capability to develop a nuclear weapon, but it might mean stalling it or containing it, and drastically curtailing Iran's long standing policy of extending support to the likes of Hizbollah and other Islamists (but not Al Qaeda) in other parts of the world.

The key point being that Iran wants the end to economic sanctions so it can grow, although this wont be enough for the largely cosmopolitan population of Tehran, aching for more personal freedom, it will remove pressure for reform elsewhere.

So at best there is hope that Iran will threaten the outside world less, especially Israel, but it will still imprison and murder its own people for blasphemy against Islam and seeking a government that isn't theocratic.  For all of that, it will and should remain a pariah.

10 January 2014

New Zealanders for Gaddafi?

As Muammar Gaddafi engaged in slaughter against the Libyan people, it may be timely to note those with a high profile in New Zealand who thought he had a lot going for him.

The leftwing blogosphere has plenty wishing for his overthrow, even calling for military intervention of some kind.  The Greens are even supporting a revolution.

I guess if a high profile New Zealander talked favourably about Gaddafi now, it would not be seen in a positive light.  Though I can't be so sure of that.

Yet when it comes to those who have been to Libya, spoken favourably of it and were friendly to the Gaddafi regime, it's "ok".  Those people are forgiven.  Yet John Key when asked by a journalist whether he would tell Mubarak (a clearly far less brutal dictator, and no war-mongerer) to resign, he said no - and got excoriated for it.

The hard left community has long been soft towards Libya, because for years Libya was anti-American, it supported revolutionaries all over the world, including Maori nationalist thugs who wanted armed rebellion in New Zealand.  Gaddafi always felt a soft spot for anyone wanting to take on the liberal democratic West.

The late Syd Jackson being one of those thugs. 

He went to Libya to see Gaddafi's theories in practice and met him, and discussed Libya imposing trade sanctions on New Zealand.   Idiot Savant preferred to just consider him a union leader and broadcaster, brushing over his Gaddafi-philia.  However, the left is remarkably forgiving of its own kind being friendly with known mass murderers, typically dismissing accusations by claiming its opponents are the same - it's the plea of the man who beats up his wife who points out that the man over the road is beating up his wife too, why don't you harass him?

It is hardly a robust defence.

Hone Harawira spoke fondly of him, but only Dr. Pita Sharples and Tariana Turia - both Ministers in the current government said this on his passing:

"He had the keen intellect to grasp complex issues, a quality which you would see coming through in campaigns such as encouraging Libya to boycott trade with New Zealand".

None of those current MPs can really be said to be particularly negative towards Gaddafi.

I'm not exactly trusting of Sharples and Turia to be keen identifiers of intellect.

It is not just Syd though.  Keith Locke was once sympathetic, as can be seen in this "Just Peace" newsletter penned by him on the Green Party website where he calls for:

"if you wish to take part as one of the walking wounded representing countries bombed and oppressed by the US government" listing Libya as one of them.

The fact Gaddafi's regime was sponsoring terrorism across the world, including the UK and Germany and had been waging war against Chad didn't matter.

Keith has only just started protesting against Libya.  You see he saw Libya as a "victim" as well, with the "see no evil" hands over his eyes when Libya killed people in other countries.

Apparently ruthless military/socialist dictatorships can't be imperialist.

However, New Zealand is always so forgiving of those who cuddle up to thugs, with the mass media largely willing to give them a free pass.

and now

Gaddafi is gone, and there was nary a peep of concern expressed by those who might be thought to have been his friends.  Those who once gave succour to his regime (and gained it) will forever keep a low profile.

The posts that didn't make it

I have over 100 blog posts that I didn't finish, that got interrupted, so given my other commitments at this time, I've decided to tidy some of them up and send them out.   The main reason I didn't post them was timing, and I wasn't happy with the content, so they may be shorter than usual (some of you will be pleased). 

Given I have enough for two a week for a whole year and I'll probably cull half of them for good, I expect to send out that many over the next few months, and include a postscript that updates my thinking on the specific issue.

08 January 2014

Happy New Year 2014, and why I haven't been blogging

Well readers, for those who have stuck with me, you'll have noticed a paucity in posts, as I have been a combination of uninspired and very busy in the past few months.

Quite simply I can put it down to real life consuming my time and energy to an extent that meant that, beyond outing Gareth Morgan for his naivete over North Korea, my attention has been elsewhere.

In part it has been work, which from May till early December kept me mostly consumed for a good bit over 40 hours a week.

In part it has been the drawn out process of jumping onto the London property bubble (which still isn't over).

However, it has also been time and energy taken by four trips in under six months to New Zealand to help and be with my terminally ill father, and help my stressed and regularly distraught mother.

So for now, I'd like to talk about my Dad, as he remains with us, albeit not as active or as cheerful as he usually is.

I'd advise you to not read any further if you are squeamish or easily upset.  What comes includes some graphic descriptions of his condition.

11 December 2013

Nelson Mandela - one man who looked forward

Nelson Mandela, saint?  No.  He was a man, who made some mistakes, perhaps his biggest one was in leaving the ANC to unspeakably awful men and in not purging the party of its Leninist culture.

The AIDS-denying, Mugabe appeasing Thabo Mbeki, who, had he been a white Afrikaner, would be blamed for genocide.  The rape-denying Jacob Zuma, in a country where 1 in 4 men admit to rape.  I see few feminists bemoaning the abject failure of the "new" South Africa to confront this culture.

However, I resist the claims of some that he should be dismissed as a terrorist and a communist.  That blanks out the reality of South Africa's white-supremacist regime.  It was sympathetic towards Nazi Germany during the war, and had distinct parallels in applying a non-eliminationist view of racial supremacy.  Apartheid itself was strongly supported by white far-left trade unions, who didn't want black workers taking their jobs.  A argument, which at its fundamental roots, is still used by protectionists without the overt racist component. 

Mandela lived under a regime that not only denied him and other black people in the country basic standards of citizenship, but didn't tolerate dissent unless it came from white people.  Even then, the regime would use accusations of communism to attack many criticising apartheid.  It was the proud Helen Suzman who maintained the small opposition in South Africa's Parliament, as the apartheid regime increasing became fearful of invasion from the post-colonial regimes to its north and of revolution within.

South Africa was a brutal authoritarian state that brutalised the vast majority, and explicitly legally denied them opportunities in business, education, science and culture.  In that environment, it is hardly surprising that the ANC - in resisting this - would turn to violence, after the awful Sharpeville massacre.  
The state did violence to the black population, it did not allow free speech, it did not give it options for political expression.  The black population faced authoritarian rule that they had no say over, they were non-citizens, with the police and the courts almost entirely beholden to those who ruled them.

So given the choice between Gandhi-esque non-violent resistance, and having protests of unarmed school children gunned down, and taking up violence yourself, it's hardly a surprise the latter was taken up.

03 December 2013

Maduro is Venezuela's Muldoon

Rob Muldoon's ghost is alive and well, and running economic policy in Venezuela...

Nicolas Maduro has banned price increases, unless they have state approval.

Which of course will have the result of making everything subject to it very scarce indeed...


07 October 2013

General local election voting guide

Given what a pain it was to vote for three different entities in Wellington, I thought I'd give my general approach to the local elections cross New Zealand.

1.  Anyone who claims affiliation to the Greens, Mana, Labour or City Vision is beyond the pale.  They all want more of your money, and want to control your property and your lives through intrusive bylaws.  Ignore them.

2.  Affordable City candidates want to control rates, give you more control over your property and leave peaceful people alone.  There are candidates in Auckland, Masterton, Porirua, Hutt City, Wellington and Invercargill.  In Auckland, select Stephen Berry for Mayor.  Tell your friends he isn't a typical candidate.  He doesn't have Parliamentary political party, business or union affiliations. 

3.  Anyone who advocates a big project funded by your rates should be ignored.

4.  Anyone who considers climate change, poverty or international issues as a priority should be ignored, they are not part of what local government should be involved in.

5. In some cases you are justified in voting for someone you wouldn't otherwise support to avoid evil and incompetence.  Unfortunately, in some cases you can't.  Cathy Casey's competitors are either watered down clones or lunatics.  However, the vile Richard Northey can be removed by voting for Denise Krum.  In Wellington, Helene Ritchie in the Northern Ward, has a record of appearing to act like a hysterical lunatic. Fortunately, you can tick not only Reagan Cutting, but Justin Lester and Jacob Toner to avoid her.  Peter Gilberd wants to do too much and Malcolm Sparrow wants amalgamation.

Christchurch I pity, because whilst the odious Bob Parker is not standing for Mayor, the choice is far from inspiring.  Lianne Dalziel is probably front runner, but it looks like Christchurch's earthquake has brought out the mad people, like Tubby Hansen.  

Finally, don't worry too much if you don't have anyone worth voting for.  Don't vote if you like.  The less electoral mandate this collection of petty fascists and control freaks have the better.  It is a legitimate decision in a liberal democracy to say "to hell with the lot of you", then when the leftwing local demagogues talk about how they "represent" the community, you can say they don't represent you.

Of course, if it gets you that wound up, then maybe next  time you should stand for Affordable City?

Wellington local election guide: Capital and Coast District Health Board

Of course I'd abolish it, and there are plenty of candidates for 7 places.

So there needs to be a strategy here.

1.  Avoid evil.  In this case Helene Ritchie, a leftwing harpy who is destructive, and Sue Kedgley (concealing her Green moniker for some reason) deserve to be avoided.

2.  Avoid the less than competent.

3. Avoid rent-seekers from unions or professional monopoly trade associations.

4.  Avoid those who don't understand the role of the DHB. Including those in the sector with apparent axes to grind.

5.  Select the analytically competent.


03 October 2013

Wellington local election voting guide: Regional Council

There are five councillors to be drawn from eight candidates in the Wellington constituency of the Wellington Regional Council, unfortunately.  I say unfortunately, because there are more than three candidates who are unelectable.  What I want from the regional council is to keep rates under control, more protection for property rights, minimal compliance costs, effective stewardship of waterways, cost-effective management of public transport and resistance to a supercity.  

I wont get that, at all.  To me it is a fair option to leave the whole lot blank, but that will give some succour to the amalgamation enthusiasts.  However, there is no decent anti-amalgamation ticket.  The candidacy is full of leftwing candidates, barring one, with the only matter as to whether you want to create a dysfunctional Regional Council full of nutters, or want to mitigate damage by keeping out the worst candidates.  I

What I'll get are...

Judith Aitken:  "committed to the long-term purposes of the RMA", "wants a comprehensive, integrated approach to development planning and energy-efficient urban design", "active support for insulating at least another 5000 homes" "support for young people in creative, high-tech start-up businesses".  She isn't the worst candidate.  She supports fare increases over rates increases for public transport.  WCC Watch thinks this is hypocrisy because of her "Gold Card" (but I don't see anyone on the left canning that).  Aitken was with Labour once.   From a harm mitigation point of view, rank her 2nd.   Yes, you've reached nearly the best candidate! Rank 2 or just give up now....

Paul Bruce: Like I said yesterday, eco-loon, who bikes everywhere and admits he is in the Green Party. He gets credit from me for two things, one is that he practices what he preaches (unlike the motorist Sue Kedgley) and the other is that he is genuinely an amiable chap.  However, as an eco-loon he is a light rail fetishist, would cover many of our roads with speed bumps and 30km/h speed limits, clog buses with people carrying bikes, somehow shift more freight onto rail and shipping (no, he can't do that), is anti-fracking and deep-sea oil exploration, and wants "community owned energy projects".  He wont control rates and his enthusiasm for banning things and regulating make him beyond the pale.  However, he is not singing the praises of local body amalgamation. Could I rank him?  No.  No Ranking.  I just can't endorse him.

Mike Fleming:  His great interest is future proofing infrastructure for an earthquake.  Fine, keeps him out of implementing the RMA, grand public transport schemes (he supports public transport, with larger park and ride railway stations, which is fine) and trying to save the planet by regulating Wellington.  Easily wins Rank 1

Sue Kedgley: Don't let this woman near power ever again. Fiction peddling, publicity seeking control freak. Vote for Paul Bruce over her any day.  Her parody Twitter account (@SueKedgleyMP) can't be too far from what she thinks.

Chris Laidlaw:  Says he is independent, but is Labour and one of the shortest term Labour MPs I know of, as he won the 1992 by-election when Fran Wilde stood down as Wellington Central MP, only to lose it to (then) National's Pauline Gardiner in 1993.  Awful, simpering, left-wing Marxist "liberal", who I was told is remarkably lazy.  The only reason to vote for him is to keep the two Greens out, so hold your nose, turn away and Rank 5

Ariana Paretutanganui-Tamati:  As a Member of the Mana Party she probably thinks I'm being racist by rejecting her candidacy.  She wants to use more trolleybusses (sic) although it would help if she could spell. She doesn't like people paying for water ("it's a right" which of course means she wants to force everyone to pay for water, regardless of how much or little you use).  Free public transport for kids, which will increase obesity.  She wants to pay people more, regardless of performance, except for councillors and management. She wants to stop the Regional Council borrowing from banks, finally she wants to "nationalise" public transport, killing off the private sector so the Regional Council has a nice cozy monopoly of highly-paid unionised providers. Socialist, representing an avowedly racist party.  Don't rank

Daran Ponter: Incumbent councillor, ex. public servant who I met a couple of times.  Hard working and bright, but very much on the left.  He wants a referendum on a super city.  Good! He wants lower public transport fares, implying higher rates.  Bad!  He seems anti-Basin Reserve flyover which is a bit predictably childish (the last Labour Government funded umpteen flyovers).  However, for the greater good of keeping out the Greens, and because he is honest about his party affiliation I'm going to hold my nose and Rank 4.

Fran Wilde: We all know Fran was Labour, so why doesn't she admit it? I'm a bit bemused as to why she still cites homosexual law reform as part of her record.  Yes it is, and was perhaps her proudest achievement and justifiably so, but it WAS 1985 and has nothing to do with the Regional Council.  She supports a mega-city, which is a big reason to not give her first place, so Rank 3 because she is less left wing than Ponter or Laidlaw, but Fleming and Aitken need your vote more.

Now go have a stiff drink, and a bath.  You'll need it.

02 October 2013

Wellington local election voting guide; Onslow-Western Ward

3 councillors are to be elected from this ward, there are 12 to choose from.  So surely someone must be decent?

Well that is true.

Phil Howison deserves your positive vote to be ranked number 1.  He is on the Affordable Wellington ticket and is both intelligent and a thoroughly approachable, thoughtful, hard working and polite young man who is focused on keeping spending down by focusing the Council on its core services.  He wants processes streamlined and is opposed to "unnecessary restrictions" on businesses and residents.  Yes he was an active member of Libertarianz and was a candidate, but he's watered down his views somewhat (in fact rather too much, I'd like to see Phil push much harder for cutting rates and cutting local government).  Notwithstanding that, I endorse him as someone who has a clear position on ensuring Council minimises costs upon ratepayers and residents, and concentrates on doing its core business well.  Rank 1

The rest? Hmmm well...

01 October 2013

Wellington local election voting guide: Mayor

Yes, I get to vote in the local elections.  Better my vote than, well anyone else's really (look if you can't be arrogant about your own vote then don't bother).

So here's my run-down of the motley lot that are standing, and a motley lot it is.  I can't get enthused about almost any of the candidates.  So I figured since blogs are about venting one's opinion, I'd do a bit of my own.  Of course because voting is by STV you get to rank the candidates, which means you don't need to rank anyone you find particularly loathsome (after all being ranked 8th is worth more than not being ranked at all).

Remember, one of the most important things for Wellingtonians should be remembering what happened in Christchurch could happen again.  Wellington needs a Mayor and Council that can take on central government bureaucracy and be for private property rights.  It's a shame it doesn't have enough standing who do.

12 September 2013

Gareth Morgan once made fun of North Korea

As a footnote to the recent saga of Gareth Morgan and the DPRK, I happened to find this... (you see North Korea watchers do collect material referring to the country)


You see, oddly enough in 2000, Gareth Morgan did find the pejorative, stereotyping of north Korea to be just fine when he was writing a column for the NBR. 

I suspect (and indeed there is evidence that) the DPRK is not very adept at researching those who seek Visas for travel there.   I doubt this column would have helped.

  In fact he used it to compare to the Clark Government, which is of course great fun for libertarians, but is in the same boat as "it's like Singapore".

His view then was that the DPRK is "the last surviving example of socialism gone horribly wrong", which doesn't exactly match the glowing image of farms and the economic struggles being seen to be due to the "economic blockade".

He said "everyone is in the same boat, they're starving", a view reversed by getting to see the people made available on the self-selected, but approved route.  

He talks then of the ruling elite having "expropriated heaps of money from the people to keep themselves and a few cronies in comfort".   Not a peep about this now.

"This Stalinist amusement park would suit someone like Tony Simpson in Jim Anderton's office"  and to think of what he called me when I pointed out the nature of this regime and system.  He already knew.

Now I have this column because I liked it, it was amusing, and it showed a cursory awareness of the totalitarian nightmare of the country, and the economic catastrophe it is.

Today...

09 September 2013

Gareth Morgan seems to back down by erasing the past

Throughout the history of the Democratic People's Republic of Korea, the Orwellian maxim that "he who controls the present controls the past and he who controls the past controls the future" has be.en the backbone philosophy to justify the personality cults that have led the country.   I've written about this already in the past few days.  Quite simply it would be a bombshell for many in the country to learn that Kim Il Sung's role in defeating the Japanese was that of a small guerrilla leader who achieved a handful of tactical victories before fleeing for his life to the USSR, and that the USA had a dominant role in rolling back the Japanese.  Similarly to know that it was Kim Il Sung who launched the war that devastated the entire peninsula, and that it was only because Mao was willing to supply so much cannon fodder that his Stalinist regime survived.  

Gareth Morgan's exploits on his blog have been rewritten, as is his right, here.

He has said:


We welcome your thoughts to improve the quality of discussion. If you think you can value with news, data, or research you are welcome to contribute.

Please be respectful of others opinions. Abusive or defamatory comments are not welcome and comments are moderated.


Pot kettle. He has since removed his libel threat and his lengthy ad-hominem attack on me which started with a diatribe against ad-hominem attacks.  He has edited many of my comments extensively, and has done the same to his own, adding in one:

"I am in no way sympathetic to the form of governance in North Korea."

Sure had a lot of us fooled.  

There is much more in the language now used in the edited comments to suggest a more reasonable interpretation for what he saw.  Had he said all that in the first place, there would be far far less to criticise him about.   

He has still helped to feed the DPRK's propaganda machine of course - that horse has bolted.

However, so have his original comments. 

I am sure that the reporting by Not PCWhaleoil and Kiwiblog has helped him realise that he had precious few friends beyond Marxist conspiracy theorists and the regime itself in taking me on, and his own outpouring of ill considered anger (including thinking he knew about my education and belittling it) in response to my bitterness at him, has been erased.

He has also edited my comments, whereby I express my incredulity at what he originally said.

I suspect that is the closest I will get to an apology and a withdrawal.  A victory of sorts?

Of course, it is highly entertaining that it comes in the form of an Orwellian rewriting of opinions.  However, it is his blog.  I actually do believe in private property rights.

However, despite his valiant efforts, this little episode can't be so easily erased from history, for many others have seen and repeated them.

I look forward to seeing whether the MSM takes him on when he finally returns to NZ, for his original comments and behaviour in being confronted with the absurdity of them, have exposed weaknesses.   He hasn't the humility to apologise.

I'll leave it to you to decide as to what it says about the man.

07 September 2013

"Prison camp? Nothing could be FURTHER from the truth" Gareth Morgan on the DPRK

The Australian Federal Government owned ABC is clearly a tool of Western propaganda to demonise the DPRK.  The ABC picks some highlights from what he has said...

""the imagery that you get from this almost concerted effort to demonise the place...it that it must be like one massive prison camp, nothing could be further from the truth."

Yep except from virtually no one being allowed to leave the country, and the comprehensive internal passport system, with military checkpoints at the entrance of most towns (he didn't notice this?). Except for the actual gulags.  Except for the compulsory adoration of the four person personality cult. Except for the secret police, the red guards, the compulsory weekly self-criticism and neighbourly criticism sessions.  Except for the complete absence of private property regarding home ownership. Except for the complete prohibition on any publishing that isn't by the state.  Except for the death penalty for listening to broadcasts from the outside world.

"preconceptions that the people are starving are actually not true. He says the group found people were eating well and local crops were healthy."

Western propaganda then.  He saw it all, got to visit any villages he asked.  That campaign a few years ago "let's eat two meals a day" was misreported.  What he saw was a fair reflection of what was real.

Farming is self-sufficient, labour intensive but very productive.

Throughout the famines in the Ukraine in the 1930s and China in the 1960s, visitors were shown productive farms and statistics indicated growing production.  Sure north Korea has no famine now, but to swallow the "very productive" claim is naive.

The problem is that the country's sanctions mean there are no reserves - a facet Gareth Morgan says could lead to famine.

Oh so it would be fine as a totalitarian centrally planned economy then?  China shouldn't have decollectivised farming, that was obviously foolish.  It's all the fault of the foreigners.  Convenient, and swallowing the party line once more.  Of course why are there sanctions?  Those nuclear weapons it promised to dismantle in exchange for help in developing a nuclear power generation facility, which it then developed anyway?  The constant exporting of missile technology to Iran, Syria and other rogue states that threaten Western allies?

because of the sanctions they are isolated.

Yes, not at all a country that isolates itself is it?  Such an open engagement allowed  between its people and the world.

Mr Morgan says that Koreans dress well noting that ladies wear gumboots with heels on them.

Noticing the important things.  

He says interaction between the group and ordinary North Koreans proved quite difficult.

Finally, a hint of acknowledgement of the core problem.  

Unlike in South Korea where people are free to chat he says that people in North Korea are all organised in work parties but say they did manage to meet a few North Koreans when they were at a beach resort.

The workers' paradise ensures even those of the lowest standing get to go on beach holidays right? Oh, maybe it's just more members of the elite?

The group were escorted throughout North Korea by a huge motorcade including a car with loudspeakers telling everyone what they were doing.

Yes the country is full of loudspeakers.  Did Jo understand what was being said?  Was it telling people what to do as well?  We may never know.

06 September 2013

Gareth Morgan threatens me with libel.... and insults me.. *shrugs*

No.

No self reflection.

No addressing of the core questions and issues.

Wilful blindness?  Or does he simply not believe that what he saw was carefully selected?  Or does he have a cunning plan that he isn't mentioning? (!)

I don't know.. but let me have a go, respecting that he no longer wishes me to engage on his blog.  So I will respond to his comments, which say a lot in view.  Particularly an unwillingness to read.  He deleted my responses to the halfwits who claim the DPRK is "misunderstood" and even apologise for Assad.  That is "spam". 

Yes.. really.

05 September 2013

Gareth Morgan thinks I am ignorant about the DPRK



I'll take him on anyday about Korean history, and as long as he doesn't use the Foreign Languages Publishing House, Pyongyang edition of History of Korea, he might have a chance.  However I doubt it.

The man who claims that reporting the facts about the DPRK is a "beat up" and "completely wrong".

The man who says they are "wonderfully engaged, well-dressed, fully employed and well informed".

I doubt he got to meet anyone with English that wasn't pre approved, so he couldn't seriously "engage", and I very much doubt if he was able to freely talk to anyone without others being present.  

Well dressed?  Well he didn't meet this girl, because she is dead, she was "fully employed" hunting rats and looking for grass for survival.

Well informed?  Yes, thinking your founding leader saved the country, that the USA started the Korean War and the country's poor economic performance is due to a blockade, and south Korea is a poverty ridden colony of the USA - really well informed.

It's lack of international money he bemoans, but then borrowing from Western banks and simply defaulting doesn't exactly make for a credit rating worth glancing at.

Then Jo Morgan has been tricked well.  17 minutes of naive observations that the Korean Central News Agency wouldn't be ashamed of using, seemingly interviewed by Nick Tansley - former ZM Wellington clown.  Not a high calibre journalist.

She talks about the wonderful local produce!  The wonderful "muscular" young men, and how south Korean journalists said young men in the south were getting obese.  She seems to bemoan the "Western softness" of Seoul.

She talks about how everyone is expected to do some manual work - fabulous and how fit they are.

She blames the manual labour on "sanctions", swallowing the state propaganda.

She "reckoned" 50-60% have cellphones, but then that was those she saw - the elite.  She dismissed bans on foreigners using cellphones as "just a rule for foreigners", not because it risked live reports of what goes on.

She was gobsmacked - rightly - about the Arirang Mass Games (which are a remarkable spectacle), although again thinking it reported the "history" of the country, rather than it being propaganda and a symbol of how people are only important if they are in a mass collective action.

"You can't tell me these people are miserable" from seeing members of the elite singing and laughing together.  No they aren't Jo.  No.  

"They seem well fed" says the woman who didn't spend time on Google Earth to note the burial mounds for the starving.  

"our escorts were making sure we didn't get lost"  Too funny.  Really.  Seriously, not there to ensure you didn't go explore on unapproved routes?

"The people want their children to be able to ride down into the south, they want reunification" Yes, they do, but the regime doesn't want it, unless it involves it being on their terms - which they know will never happen.

Finally, Gareth thinks division of Korea is due to "great powers".  It was originally, for the USSR installed Kim Il Sung in the north, against the UN mandated declaration of the Republic of Korea as the government of the whole peninsula and resisting the (admittedly very flawed) elections that were meant to be the basis for a new government.  Korea could be reunified tomorrow, except the regime in the north doesn't want to surrender its slave state that sustains a tiny elite, and the south doesn't want to be a slave state.

It's not about foreign powers, unless you believe the withdrawal of US troops (one deterrent to north Korean aggression, which is demonstrable)

NKNews (subscription once you read more than the minimum number of articles) reports on the trip.  

Gareth says "the farms are perfect. They have no pollution”, 

the standard of living was probably like south Korea "20 years ago"... astonishing.  

Think maybe 50 years ago, the last time north Korea and south Korea were roughly equals in per capita income.  North Korea WAS the rich half of Korea, south Korea the poor peasant half... 

Capitalism made south Korea one of the top 20 economies in the world and now up with developed countries.  

Shame Gareth is still admiring the system that has trapped, literally and economically, the people of the north in a 1960s timewarp.

I look forward to him admitting he is wrong, confessing he didn't know as much as he wished, and sorry for saying things complementary about a country that has such a vile government.  I look forward to him noting that much of what he was told in the country was false and they were probably shown only what was permitted, in order to show the country in the best light, and that it sends shivers down their spines to think of children being in gulags today.

Really, I do...

03 September 2013

North Korean history lies

Given Gareth Morgan's affection for the country once described as "a place where George Orwell's 1984 was taken not as a warning, but as a textbook manual as to how to run a country", I thought I'd point out some of the biggest lies perpetuated by the regime in Pyongyang.  The saddest thing about it, is that I doubt if most of the elite even know this.  

These are lie the Kim gangster family have generated and it starts with:

- Korea was liberated from the Japanese imperialists by a group of loyal anti-Japanese patriots led by Marshal Kim Il Sung.

No, it was liberated by the United States, with the USSR having a tiny role at the very end.  Kim Il Sung spent the last four years of WW2 in the USSR.

- Kim Il Sung founded the Korean People's Army when he was 21.

No, it was founded in 1948, which was acknowledged until he decided in the early 1960s to rewrite history.

- Kim Il Sung arrived in Pyongyang greeted by hundreds of thousands grateful he had liberated the country.

No, he was brought in by the Red Army and trained to be their stooge.

- The Korean War was started by the US imperialists.

No, Kim Il Sung got authorisation from Moscow and Peking to launch the attack.  Soviet records prove that Stalin gave the approval.

- The Great Fatherland Liberation War (Korean War) was a great victory.

No it was a stalemate.  The military demarcation line is roughly where it was when the war started, so nothing was gained, but millions were killed.

- Kim Jong Il was born on the sacred Mt Paektu where he saw his father and mother preparing as they fought the Japanese.

No, he was born near Khabarovsk in the USSR.

- South Korea is a country of abject poverty and despair.

You know the truth. 

- South Korea is run as a colony by the US to use South Korean as slave labour

South Korea has long been independently minded, and has been a fairly robust liberal democracy since 1988

- Most of the world is wracked with crime, corruption, poverty and slavery, the people of Korea have nothing to envy

....

- The reason the DPRK has economic problems is because of the blockade by the US imperialists.

The reason is because it is the most centrally planned Stalinist state left on the planet, with market signals having little influence compared to the whims of the gangster family running it.

- Kim Il Sung is renowned worldwide as a genius and great man, who fought hard for the right of countries to be independent and people to be liberated.  Millions around the world worship his works.

Yes, well, need I say more?  Besides a few useful idiots, he's a laughing stock.

- Kim Jong Il is similarly renowned.

"Team America"

- The "arduous march" (mass starvation 1995-1998) was due to the US imperialists and some bad weather.

It was due to the diversion of economic effort to the military as Kim Jong Il sought to avoid a military coup after his father's death, and the storms that destroyed crops broke the back of the state farming sector.

- The United States and Japan are constantly seeking ways to invade and occupy north Korea

The US and Japan are deterring a north Korean attack and have no interest in any occupation. However, the regime does maintain a constant "we're on the brink of war" footing.  Read Orwell's 1984 to understand that.

- All of the Korean people love Kim Il Sung and Kim Jong Il and just wish reunification of the country

Most Koreans despise them, and few south Koreans want reunification on north Korean terms.  Many fear the cost of rebuilding a broken country, but many also are deeply distressed by the division of families

- Korean reunification would happen if only the US withdrew its bases from south Korea

It might, because north Korea would feel more free to invade

SO that is a start. I wonder how many of these myths Gareth has swallowed?

25 August 2013

Gareth Morgan becomes propaganda tool for the child torturing fiefdom of the Kim family: UPDATED 2

When Gareth Morgan's group got permission to enter the DPRK by motorcycle I was surprised, but then it is being accompanied every step of the way in the country.  I was also surprised when he got permission from both the DPRK and ROK sides to cross the DMZ.  I think the DPRK is also surprised by this, as it has several times used crossing as a propaganda trick, knowing the other side would arrest and detain anyone undertaking it (those who do it are typically DPRK sympathisers after all).  

So now he is in the country, and not surprisingly the New Zealand media is reporting none of it, even though North Korean media actually is.  Unless some celebrity is involved, or it involves a sports team or a disaster, then it isn't of interest.  Of course he'll get coverage when he returns, but it will be of the "wow amazing wasn't that cool" type of questioning.

You see Morgan's group is now being used for propaganda and this slave state will milk the propaganda value of peace loving sympathetic Westerners coming to learn about their country's "history" and how they struggle against the yoke of foreign aggression (when all of the aggression comes from the mafia family that runs the place).  

Gareth Morgan is now a tool of a slave state.  I doubt he'll ask about children being kept in gulags.  

The state/party daily newspaper has a photo of him on its visit here and here.  It reports on Morgan's group learning about the country.

His visit has included paying reverence to the murderous war-mongering Kim Il Sung, who set up the abominable personality cult led slave state that it is today, started the Korean War, and has manufacturer such a complicated web of lies about the place that it is difficult to know where to start.

For a start Kim Jong Il wasn't born on Mt Paektu, he was born in Russia in Khabarovsk.

Kim Il Sung did not lead a gang of guerrilla fighters based at Mt Paektu to led the Korean people to victory against the Japanese, he did led a small group based in Manchuria that tactically fled to the Soviet Union, where he was when Kim Jong Il was born.  Kim Il Sung was a Soviet selected stooge put in place to follow Stalin's order and occupy the land.  He successfully took all he learnt in the USSR and then some, started the Korean War and ended it building a cross between Orwell's 1984 and Huxley's Brave New World.

So if you want to follow Gareth Morgan, read the Rodong Simnum and the Korean Central News Agency, or listen to Voice of Korea's English broadcasts online, which are reporting on these adventures (all pretty much similar).

Meanwhile Porirua based Anglican pastor Don Borrie continues to felch the regime, and it continues to render his reputation to be equally vile.

UPDATE:  So the West needs to "rethink" North Korea now, says Gareth.  It wasn't just a motorcycle trip. His head has gone soft and he has taken in all the lies and thinks they are awfully nice folk.

The thing is, the guides are.  The people you see are nice, as they are privileged members of the elite painstakingly trying to make sure their country is seen in a good light.  

You don't need to try to demonise north Korea.  He claims it isn't a great big prison camp, but who gets to leave Gareth? Who gets passports?  What about the domestic passport system that ensures no one can leave their village or town unless they belong the elite? 

He talks of how everything is tidy and clean and everyone has a job. The Potemkin world he got to see. Escorted the whole way, he claims everything he saw was real, and told was real. 

He then touts the Democratic Confederal Republic of Koryo reunification scheme (not by name) of Kim Il Sung as the solution to reunification, except for removing US troops from south Korea.  Naively thinking the north Korean regime actually could survive any extensive contact by north Koreans of south Korea, but also wanting China to protect the slave state's sovereignty.  He even uses the language that has been uttered in DPRK English language propaganda since the 1970s over this.

Gareth talks of why he and his wife could travel across Korea, but Koreans couldn't.  Yet North Koreans can't own motorcycles and drive anywhere they want in the north.

Until now I thought he was just a bit naive and actually would come out and acknowledge that he didn't know what was true, what wasn't and what he was shown and not shown.  No, the fool appears to have swallowed the Kim gang fiction hook line and sinker, and not only that, is even endorsing the sustenance of the regime by giving it propaganda.


I question his sanity.  

Imagine if he had travelled through Pol Pot's Cambodia and did this, or Nazi Germany in 1938 talking about how misunderstood the proud German people were and they only want more living space and to be reunified with Germans in Czechoslovakia, and it isn't a prison camp, the stories about the Jews are lies, demonising them.

Well Gareth - you kind of did that.

Go get your head examined, and if you're sane, here are some books to read

(UPDATE - he has read some unspecified books about the horrors of the regime and said he has no reason to question them.  It would have been balanced had he acknowledged this publicly instead of telling me on a comment on his blog)

Aquariums of Pyongyang by Kang Chol-Hwan  (for life as a child in a gulag)
Kim Il Sung - the North Korean Leader by Dae Sook Suh (for the best historically accurate and well researched account of Kim Il Sung's REAL life and what he did to fight the Japanese (a little) and what he says he did (saved the nation) .
The Real North Korea: Life and Politics in the Failed Stalinist Utopia by Andrei Lankov an excellent report of how the country has changed and contrasts with the USSR, by an academic who lived there over decades and has fluency in Korean, Russian and English.

I still think despite reading some books and believing they are true, his behaviour is astonishing.  I don't understand it.

I STILL think he should...

Apologise to the hundreds of thousands who are in prison camps, including the thousands of children. Apologise to the millions dead because this regime preferred to build a mausoleum and deny farmers the right to grow more than tiny private plots of vegetables outside state and collective farms, leaving mass starvation in the 1990s.

Next time, take a holiday somewhere else interesting, but don't start describing how homosexuals in Iran have a happy life, or women in Saudi Arabia have such freedoms we don't understand, or how the people of Zimbabwe love papa Bob Mugabe.

Better yet, whatever you do, just shut up. The last specks of your credibility have been flushed well and truly down the basement toilets in the Kumsusan Palace of the Sun (resting place of the DPRK's "eternal President").

16 August 2013

The problem of Egypt

Egypt has no tradition of respecting individual liberty or secularism.

Nasser was widely admired, as he took over the Suez Canal and lost the war he was about to launch against Israel (and lost the Sinai Peninsula).

Anwar Sadat bravely made peace with Israel, gaining back the Sinai, and was assassinated for his efforts (and is largely forgotten).

Hosni Mubarak set up a massive military led corporatist state of rent-seeking self-aggrandisement, whilst simultaneously suppressing Iranian style Islamists.  The same Islamists who bombed hotels, tour buses and killed foreign tourists, until Mubarak's secret police authoritarian state put enough of them in prison.  Meanwhile he appeased a moderate form of Islamism, allowing for the occasional hassling of Christians and implementation of Shariah law.

So he gets overthrown, and elections are held. The world quietly condones it and lo and behold, a plurality of Egyptians choose theocracy, as the alternative is a patsy of Mubarak.

The USA, EU and the rest of the supposedly freedom loving West celebrated democracy, not individual freedom and rights.   Not separation of religion and state.

So how could any Western politician oppose a government led by the Muslim Brotherhood?  How could it oppose that elected government trying to change the constitution?  

Indeed.  Egyptians who supported Islamism were happy.  Egyptians who supported secularism, the small Christian minority and Muslims who keep their religion in the private sphere, were not.

Neither was the Army, which has a large network of businesses which keep many of the senior officers well fed and watered.   

So Egyptians who don't like Islamism, and Egyptians with a vested interest in the Army's own corporatist enterprises, protested.

The Islamists were less than happy as the Army overthrew their authoritarians, to reimpose their own.

Now the Army is killing those who resist it, but don't be fooled.  The Islamists would do the same, given their predilection to terrorism, their predilection to criminalising apostasy, to harassing those who are not of their faith, to censoring views, cultural expressions and humour they don't like, to constraining the role of women.   Then of course there is the widespread anti-semitism, which is far more widespread.

So whilst the philosophy, politics and the motives of the Islamists are thoroughly despicable and the anti-thesis of individual freedom and the secular liberal democracy that Western civilisation is supposed to be based on, the ends - the political defeat of Islamism - do not justify the means - opening fire on civilians.


Egypt needs rulers who will allow people to live ascetic Muslim lives, by choice, or not to.  It needs rulers who believe in freedom, and who believe in separation of religion from state.

However, it doesn't have a majority of citizens who share those values...

08 May 2013

Stock market bubble fueled by printed money


So the Dow Jones has hit 15,000, it was 14,000 just over two months ago, with the S & P reaching a record level, the FTSE is at its highest since 2007, and the German DAX index reaching levels not seen since before the global financial crisis.

It is like the crisis didn't happen, but oddly enough there isn't a huge amount of evidence to demonstrate that this is due to performance, rather than cheap credit.

Yes there has been a bit of a recovery, and yes some stock prices were low compared to expected revenues.


"Ultra-loose and interventionist monetary policy globally is one of the main causes of this resurgence. Pretending that it isn’t, and that economies – even those like America’s which have liquidated many past malinvestments – could immediately and easily readjust to neutral interest rates and zero intervention is a dangerous delusion.

Much of the central-bank induced madness that led to the last two bubbles is reaching ever more dangerous proportions, not least the Fed’s hubristic determination to prop up markets..."

It was the perpetual issuing of fiat money by central banks that fueled the crisis, with CPI inflation hidden by a combination of plummeting prices from Chinese imports (a scenario that has come to an end, as China no longer offers lower costs) and the inflation being largely seen in stock and property prices.

The new bubbles will be stores of future problems. 

Increases in stock prices due to good performance and optimistic earnings based on improved productivity and market growth are one thing,  increases due to banks, flooded with cheap money from central banks, seeking somewhere to put it, are another.

No one has learned anything.

02 May 2013

Not all austerity is equal...

Allister Heath of City AM:

Spending cuts are austerity of the public sector  (as it has to reduce its activity)

Tax increases are austerity of the private sector

Think about which one is more likely to decrease employment, and which one is more likely to reduce economic growth.