Ok, fine. Maybe it’s just me.
But I find this positively hilarious.
Here is Climate Change Minister Greg Combet’s oh-so-obviously fallacious attempt at sledging Barnaby’s economic nous on June 2, 2011 (or, see it here on the ALP’s own website):
“Barnaby blunders as economicsts (sic) back carbon price”
Ok, ok, maybe I’m just a spelling nazi. I still think it’s hilarious … and somewhat of a Freudian slip.
Notice too, that the apparently illiterate Combet loudly and proudly bangs on about “13 of Australia’s most prominent economists” who had written an Open Letter in support of a carbon (dioxide) price.
Funny how he neglected to mention that at least 7 of those 13 “economicsts” (sic) are employed by banks. And, that at least another 3 were previously employed by banks.
Yes, that’s right. At least 77% of those Open Letter “economicsts” (sic) were and/or still are employed by the very same parasites who are pressing the hardest for carbon dioxide “pricing” as the basis for their new global casino.
Do you think that little nugget of truth might just have some influence on their “support” for it?
Oh yes. One other thing.
Did you know that one of those “13 most prominent” “economicsts” – Mr Saul Eslake – had himself a little dummy spit right here on this lowly blog, because he didn’t like his little group of rent-seeking parasites being referred to as “The Banksters’ Glee Club”?
Yes indeed. Mr Eslake threw his rattle right out of the cot. See for yourself.
And a good thing it is too.
Because thanks to his little tantrums – yes, more than one – we have now seen a further glimpse of both the heights of vanity, and the depths of deception, that these “economicsts”, banksters, and their dyslexic political lackeys like Combet et al will go to, in order to get the legislation needed to implement their megalithic new derivatives trading casino scam passed through our Parliament.
Behold … “By Saul’s Own Words They Stand Condemned”.
Seriously – would you trust an ocean-front dwelling former union hack who can’t even spell the word “economist” to successfully implement a multi-billion dollar, economy-altering energy taxation scheme?
Barnaby Is Right 
Given that experts advise us that global warming is going to hurt and cost our world so much and given it will take a fair while to sort out debate on a carbon tax/price why wouldn’t we do some things that we can act on right now and get a head start on tackling the issue. For example, central banks, starting with the RBA, could just raise interest rates a little bit. Isn’t the economy and in effect carbon use boosted by lower rates? Sure higher rates might not be the most precise instrument and it will cost most of us to borrow but at least it would slow down carbon use. And that might save the planet.
You may not be far off the mark there Fred. Given the totality of Australia’s present economic condition, raising interest rates would IMHO have the effect you allude to. Only greater perhaps, than you imagine. Rather than merely slow the economy – which is effectively in recession in every sector bar mining – higher rates (and/or a myriad of other, not-within-our-control external forces) would collapse our economy.
If you look at comparative world “emissions” over past decades, the most “environmentally successful” nations are those of the former Soviet bloc. When the CCCP collapsed at the turn of the 80s/90s, the economic collapse resulted in dramatically lower CO2 emissions. The lesson? Reducing “evil” CO2 and reducing human well-being via economic self-harm, are two peas in a pod.
Fred and B.I.
Raising interest rates is NOT the answer.
Why central banks feel that they can control the economy by raising interest rates is beyond moi`…. it will not solve the problems that we are experiencing. All it will do is invite more capital funds to surge to our shores, which will no doubt hold the AUD well above what it should be. The subsequent knock on effect will not be pretty for an over valued AUD on certain parts of our economy.
Greenspan is sooo over-rated with his use of the interest rate mechanism and it is a pity that too many idiots follow in his footsteps.
No disagreement from me on this Whacked. Pls, don’t get me started on central bankstering 😉
Yes, I do trust a semi literate, ocean front dwelling, former union hack to successfully implement a multi billion dollar economy changing taxation scheme. I just don’t believe the policy will be good for the economy.
Unfortunately four groups will benefit from the policy: carbon trading carpet baggers who will make a fortune, criminals who defraud a trade in a market for something with no intrinsic value but what the Government mandates, JAFAs and other commentators who aren’t part of the reality based community, and the Guilty Rich. In fact the guilty rich will celebrate the minor relative cost the tax imposes on them much the same way as mediaeval guilty rich brought indulgences from wealthy bishops to atone for their many sins.
Mate, you have talent. You should write a Guest Post sometime 😉
I will leave my comment about Combet with someone with a tad more intellect…
Note: Readers have asked about Greg Combet’s3 claim that China has a $14 a tonne tax on Co2. Allow me to get personal. Combet is a truly slimy sack of manure who used the workers as stepping stone to political power. When he was Secretary of the ACTU (Australian Council of Trade Unions) this ruthless opportunist falsely accused market economists of wanting a policy of “cutting minimum wages and conditions of employment” (The Australian Financial Review, 10 July, 1998). We now have the same brazen liar pushing a green policy that will savage the real wages of Australians. He is a self-seeking narcissist who only cares only about himself. Australians will never be safe so long as low-lifes like Combet infest politics.
As for his $14 a tonne carbon tax:
1. It comes from a study sponsored by the Climate Institute, an organisation of fanatical greens.
2. Vivid Economics was hired to do the study. It was carried out by Cameron Hepburn, an ‘environmentalist economist’ who partnered the lying green fanatic Nicholas Stern.
3. The Climate Institute would never have hired Vivid Economics if did not know results in advance.
4. Funding for the study came from the Labor Government. Yep, we paid for it.
5. Even if the study is honest — and I very much doubt it — it doesn’t prove their case. What matters is that the greens intention to keep on raising the carbon tax until it eventually puts centralised power stations out of business. Their alternative, which the Climate Institute, Hepburn, Stern and the rest of the shabby gang promote, would result in abject poverty for the mass of people.
http://brookesnews.com/greens/a-carbon-tax-will-devastate-australian-manufacturing/
Whacked, thanks very much for this info. I wasn’t aware of the background story on Combet. Might just have to have a little dig myself… there’s no love lost for him here.
Hi Blissful and Whacked. I know, you’re right. I was just takin’ this piss out of the whole global warming rhetorical beast, curious to see what responses it got. I expect rates would never be put up to ‘save the planet’ when there are banks and businesses to save. Actions speak louder than words, so that GW beast, seas rising images on TV, etc is perhaps not so real, or not so costly? And the carbon tax thingy, the white knight to save us, well it looks a bit ridiculous. By the way I dug your shredding of Saul, you had me up reading til late last night. Oops and tonight too. Great rhetorical analysis. Keep up the solid work.
Now if on the other hand, our glorious leaders just came out and told us that the Australian government had a blatant nationalistic profit motive, for example something like; CSIRO or similar had patents on some seriously amazing solar technology, coupled with our vast untapped sun-light capturing space, that our country would benefit from killing carbon based power, and that its development would destroy the value of carbon based energy infrastructure, but we’d be sitting on a Saudi-sized pot of “clean” energy – then I’d be all for it. But somehow I don’t think so.
Yes indeed. It’s all about the banks Fred.
Glad you enjoyed our friend Mr Eslake’s intellectual seppuku. I found this comment in his parting riposte to “By Saul’s Own Words They Stand Condemned” particularly telling:
Isn’t it lovely when the great and mighty stoop down “occasionally” to talk to the peasants.
Fred, I am a skeptic and have a classical bent to the economic principles. Keynes and Friedman were forced down my throat and whenever I said ‘but Minski said … or Hayek mentioned …. or … ‘ I was given the short shaft. Ended up just doing the assignments on the basis that I could not fail the course and had to toe the line on what my professors demanded.
I have worked with people like Saul and they treat classical economists with disdain and are quite ignorant of a lot of fundamental matters. They are always and I repeat always behind the times and I was surprised that Saul was finally getting around to reading the book ‘This Time is Different’, and my immediate thought was “well that was two years too late’ … so I gave him a clue as to the pertinent chapters. No, he was still in the single digit chapters and therefore give him another 4 years to finish this book and by then the final sovereign crisis will have commenced.
Regretfully, all the so called pillars of our economic society have their heads firmly placed in regions that they do not see the sun and the fact that Saul actually ‘likes to occasionally’ speak to other parties shows you their myopic attitudes.
When these people / academics are prepared to acknowledge that the writings of Hayek, Minski and Mises are pertinent, then and only then will my attitude towards them change. They are all impressionable idiots to the populous and can sow seeds of doubt and they ‘think’ that they know what they are talking about, as for our incumbent Federal Treasury Minister (… well what can anyone say other than he is an ignoramus). That latter word applies to the Treasury and RBA boffins! Regretfully it is a generational thingy and we can only watch from the sidelines, as these idiots who have so much power f%$k up everything that was worthwhile.
I always remember my fathers’ words in that ‘labour f%$ks up and liberal fixes up’. He also had a great distaste for Marx, and disdain for the socialist and so called capitalist systems that adopted Marx’s principles.
We are living in a very interesting economic times and the climate alarmists are a diversion to what the real problems are in our society. I just hope that the idiots in Europe will finally accept that they need a type of Brady Plan, to fix up the mess that the Central Banks, to big to fail Banks and Treasuries have created… if they do not, then we can expect a far greater problem than the one which we have already experienced.
Oh and yes BI, only a small number seem to frequent this site but appreciate the fact that it is here.
Cheers
Thanks Whacked. To use the American terminology, “you’ve whacked it out of the ball park” there mate.
Whacked, the writings of Melchior Palyi are the real deal. You will find his stuff on the internet.
JMD
Thanks, will follow through on Palyi.
I like Mish Shedlock and Gerard Jackson, frequent the Mises site often.