Daily review 17/10/2022
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5:30 pm, October 17th, 2022 - 20 comments
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What Was the Prime Minister Reading in the Runup to Election Year?It’s the summer break. Everyone settles down with family, books, the sun and some fishing. But the Prime Minister has a pile of briefing papers prepared just before Christmas, which have to be worked through. I haven’t seen them. ...5 hours ago - A significant loophole
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- Ministers are muted – or missing in action, maybe
Buzz from the Beehive Nothing to report, folks. Other than Willie Jackson’s tribute on Wednesday to Titewhai Harawira, ministers of the Crown have posted nothing on the Beehive website since the day ...8 hours ago - Gordon Campbell on the bad outlook for fuel and transport costs
Ok, there’s good news and bad news in this week’s inflation figures, but bad > good. Our inflation rate held steady but hey, at a level below the inflation rate in Australia. The main reason for the so/so result here? A fall in petrol prices of 7.2% offset the really ...11 hours ago - Bryce Edwards’ Political Roundup: Time for a sober discussion about toxicity and personality in p...Dr Bryce Edwards writes: Since her shock resignation announcement, Jacinda Ardern has been at pains to point out that she isn’t leaving because of the toxicity directed at her on social media and elsewhere, rebutting journalists who suggested misogyny and hate may have driven her from office. Yet ...11 hours ago
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- Prime Minister, you’ve got mailA lot of it is from Auckland as business leaders and a local MP make their requests. Further south, leading academics want plans for a new airport scratched, writes Anna Rawhiti-Connell in this excerpt from The Bulletin, The Spinoff’s morning news round-up. To receive The Bulletin in full each weekday, sign ...13 hours ago
- Is Wellington at risk of a slow, painful death?Parts of the nation’s capital have turned into a wasteland of red stickers, and ‘for lease’ signs. WellingtonNZ CEO John Allen has been given the challenge of breathing new life into the city’s economy, businesses, and image. He talks to Bernard about housing and hotel shortages, sewerage on the streets, ...14 hours ago
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Loading...(function(i,s,o,g,r,a,m){var ql=document.querySelectorAll('A[quiz],DIV[quiz],A[data-quiz],DIV[data-quiz]'); if(ql){if(ql.length){for(var k=0;k<ql.length;k++){ql[k].id='quiz-embed-'+k;ql[k].href="javascript:var i=document.getElementById('quiz-embed-"+k+"');try{qz.startQuiz(i)}catch(e){i.start=1;i.style.cursor='wait';i.style.opacity='0.5'};void(0);"}}};i['QP']=r;i[r]=i[r]||function(){(i[r].q=i[r].q||[]).push(arguments)},i[r].l=1*new Date();a=s.createElement(o),m=s.getElementsByTagName(o)[0];a.async=1;a.src=g;m.parentNode.insertBefore(a,m)})(window,document,'script','https://take.quiz-maker.com/3012/CDN/quiz-embed-v1.js','qp'); Got a good quiz question? Send Newsroom your questions. ...19 hours ago - Daily crossword, Friday 27 January
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Sweden energy changes have been brought about,by large failures in the German energy policy,which has brought instability to the European (and global) energy markets when exposed to an exogenous shock that was clearly signalled.
The price spikes and margin calls in the energy sector has seen the price destruction of substantive investments in Companies such as Uniper due to the intergrated pricing on the interconnected grid.The creative destruction of investments in Uniper has seen Finland,Sweden and Norway (wealth funds) take large hits due to the nationalisation by Germany.
The large subsidy for energy prices or Germany announced (200b e) has disrupted the European (Mostly vikings) electricity market.Norway being outside the EU limits its electricity price to domestic consumers at 7e.
There was also some requirement for change to interpretation of net zero to meet US lenders rules ie minimal carbon production.
Scandi pro nuclear while German Greens struggle with retaining any nuclear generation at all is a fascinating contrast.
But I struggle to have sympathy for Swedish or Norwegian pension funds.
One could say Uniper shareholders were fortunate the German gov bought them out
Nah they could have used force majeure on the contracts,but were prohibited from the Germans from doing it.
The German/Netherlands initiative for a cap on gas prices within the EU comes in today with a one market pricing regime,China announces ban on re xport of LNG shipments from China on opening bell.
How much re export have china been doing to date?
Plenty,getting good pricing on the arbitrage buying out of Australia,Qatar on contract pricing reselling on spot.Also gets half price Russian LNG to balance the difference (although demand is well down due to Covid zero).
Seems pretty negligible. …78 billion euro on gas imports to EU early part of this year…and a whole few hundred million USD from China to date this year
The ship redirects as the contract transfers,(big shortage of ships) so a contract ex qatar may go to europe instead of china,with australian shipment going to japan or korea instead of china.
Somebody has been firing up the propaganda machine and stirring up negative emotions! Cui bono?
https://www.rnz.co.nz/national/programmes/mediawatch/audio/2018862546/heated-emissions-from-media-on-gas-charging-plan
https://i.stuff.co.nz/business/farming/130157595/emissions-levy-plan-final-nail-in-coffin-for-farmers
There own report says it will increase mental health issues in rural nz ,
Dpa is a douche its a shame you even give her oxygen here ,its just wedging
I gave her oxygen???? When? Where? How? And most of all, why?
I didn’t write it, and neither did she, but I do subscribe to much what was said in it, which is why I linked to it.
That article was a solid kick in the balls for Stupidity-Allen.
Scientists have transplanted human brain cells into the brains of baby rats to study human brain development and disease. Don't they know that these things never end well.
https://nbc24.com/news/offbeat/scientists-grow-human-brain-cells-in-rats-to-study-diseases-autism-schizophrenia-organs-mystery-organoids-memory-thinking-learning-reasoning-emotions-cerebral-cortex-behavior
I can't think of a good movie reference to match, but this is a similar and fantastic first sentence of a 2022 news article (and a link to a browser version of the game):
https://www.npr.org/sections/health-shots/2022/10/14/1128875298/brain-cells-neurons-learn-video-game-pong
Film "The Fly" comes to mind. (Based partly on Frankenstein imo.)
https://www.forbes.com/sites/roberthart/2022/09/29/bitcoins-environmental-damage-is-on-par-with-beef-natural-gas-and-oil-study-suggests/
Feeding, transporting people and powering their lives are all industries which we can improve in many ways but these digital commodities provide people nothing and are doing real environmental damage in the process.
The profit motive is not incentivising long term thinking, to put it mildly.
Out of UK,
BOE confirms end of intervention in high end gilt market (long bonds) after buyers strike on bonds as a result of Mini Budget.The 7 sigma deviation at the long end is now down to 2.5 std deviations.The BOE had also confirmed a large increase in the Nov monetary review and markets are now pricing in 1%,as conditions soften.They will also restart QT at end of month.
The Chancellor this morning in emergency announcement pulled on big boy pants and has confirmed all tax cuts are now off the table for the foreseeable future,and he has lessened the energy support from 2 years to April 2023,ending after winter.
bond prices retreat as investors return,pound appreciates and the US$ retreats across a number of countries.
Europe gas policy announced said it would be dynamic and imparted little other detail as it was to be communicated in reverse esperanto,which none of the publicists or NSA code breaking computers could decipher,confirming the foremost problem with Europe is sophistry.
Smell ya later Sharma. DARVO doesn't work if you have no credibility in the first place. 🙄