Links 10 January 2019

Global Macro/Markets


Europe/Middle East


Australia/New Zealand




Latest posts by Chris Becker (see all)


    • Pretty sure Flawse will blame Sydneysiders for the Murray/Darling river woes. 😀

      I am not with the recent calls to nationalise it now because it is Chinese owned. That ship sailed when the Rodent was in power. This sh1t went down many many years before it was bought by Chines interests. They shouldn’t be scapegoated on this one. This was pure local politcal corruption in Queensland. And yes, the Beetrooter should be taken behind the shed for it.

      • The Beetrooter Advocate

        Now there’s some unintentional visual imagery to get one’s teeth into. Have any particular time in mind?

      • 1. For the record – I have always been opposed to the concept of Cubbie Station as it is now developed.
        2. The bloke who worked out the tricky bits that made the Cubbie operation possible was a (former) Government IWS employee. It fitted the guidelines at the time with regard to water take-off (with a little adjustment to a level or two that also apparently fitted within the guidelines. The legal situation might have been complex but I don’t know enough about that.
        3. I had friends who had properties downstream of Cubbie who wanted to put one or two Cubbie people inside the irrigation banks on Cubbie.
        4. The problems in the Western river/Murray Darling basin are somewhat more complex than just blaming Cotton Growers. It IS, at least partially, also attributable to the demands of city dwellers far removed from the difficulties faced by people who live along the Murray-Darling – but we MUST not mention that!
        5. I’ve hated cotton as a crop all my life although aspects of it are now less damaging than previously.
        5. If you are so ignorant that you don’t understand the connection between the necessity of selling valuable resources to foreign interests that results from the whole Sydney/Melbourne over-consumption/ no production high immigration issue then please either don’t comment or do something about yourself.

    • Mining BoganMEMBER

      I watched all that happen. It was a massive debate at the time. There was a organised attack in the media on anyone who thought a bit green. My old man was a Nationals supporter and even he said Cubbie was nuts. Guess that’s because we all fished out that way and knew the waterways. The rest of the country didn’t agree with us. Now there’s no fish. Straya. Winning.

      The St George drunk Bananaby is as corrupt as they come. He’ll never do time though. The truly rotten in Australia never do. *waves at The Rodent*

    • desmodromicMEMBER

      I recall in the 1990s when working in agriculture. an assertion by a colleague that the chap that became the manager of Cubbie was the person in government that recommended the issue of the original water licenses. A fine precedent for Barnaby and others—we appear to be corrupt at every level.

      • Re the government employee – yep! See my comment above.

        I’m yet to see evidence Barnaby was corrupt in this. Misguided perhaps. I know it is anathema to city dwellers that the regions might just get employment and some wealth. Is it not possible that Barnaby was simply trying to bring some employment etc to a region that was sorely depressed?
        Again, as I indicated, as a result of a bit of a bit of inside knowledge by the IWS bloke in question, Cubbie was within the offtake guidelines and required no ‘corrupt’ intervention by anyone.

      • desmodromicMEMBER

        Flawse, it may have been legal or within the regulations but the laws are written by politicians who are heavily lobbied by vested interests. The adverse effects of water abstraction from the Murray-Darling system have been known for decades yet ignored. Hence the 1994 water cap wasn’t a cap, inter basin transfers of water licences became a thing, new irrigation areas developed on unsuitable soils, lakebed cropping of wheat, illegal floodplain bunds that remain due to lack of enforcement, etc. The loss of biodiversity and ecosystem function has been immense and the latest fish kill a symptom. It is a mining operation with no plan for rehabilitation.

      • interested partyMEMBER

        we appear to be corrupt at every level.

        It is a worldwide thing.
        From the Mekong, to the Aral, to Lake Chad, and on and on….

        From chapter 27 of the book titled ” When the Rivers Run Dry” by Fred Pearce…….
        ” despite being an industrialized nation, Australia insists on using huge amounts of water to irrigate crops and cattle pastures. It acts like a third world nation prepared to sacrifice it’s most basic natural resource to make ends meet.”
        “Australia is among the top three exporters of ‘virtual’ water on the planet.”…………..”rice, cotton, and sugar, three of the most water-thirsty crops, account for a third of the countries water use” A noted fact from the book is cubbie loses 40% of the water stored to evaporation……that’s 40% of Sydney Harbor volume!

        I recommend reading the book….although it does hurt to read and understand the background of the tragedies unfolding around the world in real-time.

        As you stated…it’s a symptom…….of a much greater problem.

      • des
        The mob that Penny gave $20M ($27M?) to for their lakebed were about to go broke. They thought it was manna from heaven just in time.

  1. The ABC is a bastion of identity politics and SJW values. The problem is in the reporting but much more so in the commentary and can infect other programs such as kids shows. I pay for this. I do not pay for the private media. There is a charter that is supposed to govern the ABC that is absent in private broadcasting. Although there is a celebratory atmosphere every time the ALP wins an election I think the main beneficiaries are the Greens.

    • “This, in turn, meshes with a psychology on the part of some within the ABC who are deeply wedded to a Green Party agenda and for whom the Greens can never do any wrong; and for whom the Labor Party, against Green Party/hard-left standards are depicted as simply a bunch of backsliders.”

      Mr Rudd said the net result in terms of ABC coverage was “the Labor Party finding itself attacked both from the left and the right”.

      Kevin certainly has that right.

      • Kevin is clearly ignoring New Labor’s shift rightwards over the few decades (easy to miss, since everyone’s done it) and that consequently “the Labor Party, against Green Party/hard-left (LOL) standards are depicted as simply a bunch of backsliders” is perfectly consistent with the opinions of people who have not shared that same change in beliefs.

    • “1 (a) (i) broadcasting programs that contribute to a sense of national identity and inform and entertain, and reflect the cultural diversity of, the Australian community; ”

      Literally the first item.

      And then further on:

      “2 (a) (iv) the multicultural character of the Australian community;”

    • Not much diversity of opinion on Melbourne radio and the BBC world service. All you get is propaganda for the greens. In our last state election the greens lost seats and were replaced in part by sustainable Australia. I don’t know what it is like in Qld but presume it is similar given where Kev comes from.

      As you can see their listening base is eroding in Melbourne since getting rid of Redmond they have lost a quarter of their listeners in the morning.

  2. Personally, I don’t give a rat’s what the yanks do on the Mexican border but I’d just thought I’d post this factoid for future rants on mb about the merits or otherwise of Trumpy’s “national crisis”.

    “If the entire United States had crime rates as low as those along the border in 2017, then the number of homicides would have been 33.8 percent lower, property crimes would have been 2.1 percent lower, and violent crimes would have dropped 8 percent.”

    via Alex at Marginal Revolution.

    (as is often the case with MR the comments section is also interesting).

  3. China’s slowdown is the biggest threat to world economy – The Washington Post

    You shouldn’t worry too much about the big U.S. stock market sell-off. You should worry about China’s instead. … read more via hyperlink above …
    Summers Sees `Lot of Grounds for Concern’ About China Economy – Bloomberg
    A growing number of companies are flashing a warning sign on China’s economy | Business Insider