Sunday, 15 July 2018

John Quiggin aping Sinclair Davidson

Unfortunately John Quiggin is now aping Sinclair Davidson.
In this article he accuses Tony Wood of the Grattan Institute of being a denialist.

The accusation is spurious and based on a statement from Tony Wood
All Wood is saying is please ignore the  extremists on both sides. You know the people who say stop all coal now or on the other hand say the government should only fund coal powered stations.
Apparently this is all beyond John.

Let us take this a bit further.
What does a denialist do?

  • They deny a warming world. Does Wood do this? NO!
  • They do not see any reason for a carbon tax, ETS or any other policy which involves curbing carbon emissions. Does Wood do this ? NO!
  • They offer estimates of the cost of power of new coal power stations which are absurdly low and much less than renewables. Does Wood do this? NO!
  • They will claim renewables are the main reason for the higher price of electricity these days. does wood do this? NO!
In all cases he does quite the opposite

Indeed the statement John quotes of Wood completely contradicts John's claim. If Wood was a denialist he would not have talked about a deep fear to protect the role of coal for base load power.

Renewables are now cheaper than coal for electricity generation. The reason Wood is advocating a NEG now and not say an ETS is because of the toxic political arena we have.

Whilst John wants to be clean and pure Wood wants something to be done. A NEG will mean coal declining and it can be implemented under the present government. An ETS is simply out of the question until the nest election at the earliest.

If John cannot  see that then he simply simply following a Trumpian path!

Thursday, 12 July 2018

Around the Traps 13/7/18

It is time again for Around the Traps.

Northern America
Andrew Gelman (mainly stats)
Genial Dave Giles (econometrics)
Dianne Coyle ( quirky + book reviews)
Vox Wonk

Wednesday, 11 July 2018

The ACCC and the electricity market

The ACCC released their report on the electricity market yesterday.

I am totally with John Quiggin on this.
It doesn't take a Rhodes scholar to understand the electricity market would not be a competitive market where consumer sovereignty reigns.

Where was the ACCC when all these worthless privatisaons were occurring?

I should have added can some-one tell the innumerates that coal fired power stations are the highest cost alternative please. See HERE

Tuesday, 10 July 2018

Two TV shows that have had its day

Tonight on Channel 10 two shows will follow each other. Unfortunately They have to go/

Instinct is in its first season. The actors and actresses are fine. ( the lieutenant is an absolute babe), the characters not too bad, the scripts reasonable however when you team up a female detective who obviously needs to find another boyfriend with an expert on weird murder and who has no social skills you assume this is a romance in the making. No. He is homosexual so we are denied that romantic tension the yanks can do so well.

Thus we end up with a show that just does not gel at all.

Madam Secretary started out well. It is the poor mans West Wing however it has run off the rails.
Change of characters that do not work as well as writing that simply does not understand the subject are among the reasons for its demise.

The main actress was stunning when the show started but even she gas gone downhill for some reason.

I can live with scripts that leave a lot to the  imagination such as the Secretary's husband going from being a ace jet pilot to completing a PhD in theology. It is assumed he is catholic however the frustrating thing is we simply do not know if the household and he in particular believe in God or perhaps does so in a very liberal manner or even is an atheist.

An example shows this. Their youngest boy has a girlfriend so they think it is an appropriate time to talk about safe sex???   Wouldn't they talk about no sex until married? It is though the PhD in theology was simply thought up in a thought bubble and no consideration was given to what it exactly meant to the characters.

The other large problem which the West wing dealt with is that Elizabeth always comes through. nothing ever goes wrong.

Monday, 9 July 2018

Privatising the ABC is both stupid and lazy thinking

The idea of privatising the ABC is both extremely stupid and sloppy lazy thinking.
Here is Sinclair Davidson latest apologia for his and Chris Berg latest 'work' on the topic.

Let us get to basics. What do you privatise? Commercial activities that are NOT essential industries.
The ABC does not even get close to this. Let us be specific. as I showed HERE when examining Sydney Radio  Radio National only does programs that attracts a very selected audience.
Indeed if the ABC did any commercial work there would be a hue and cry from the commercial media because it would be eating into their profits. There has been no outcry from the commercial media not even a whimper.

So what is the point of the Davidson and Berg 'paper' then given it is both stupid and lazy.

They want to get rid of the ABC but do not want to say this. 

No ABC employee would become an 'owner' of part of the current ABC as they do not have the capital to continue funding it. Why is this? Because it doe not have commercial activities!!!

Sunday, 8 July 2018

The Fama puzzle.

THIS article is a beauty from Vox Wonk. 
Ordinarily we should expect ex-post depreciation and interest rate differentials to be positively correlated. The various authors found the opposite.

Fascinating as Mr Spock used to say

Thursday, 5 July 2018

Around the Traps 6/7/18

It is time again for Around the Traps.

Northern America
Andrew Gelman  ( mainly statistics)
Genial Dave Giles (econometrics)
Dianne Coyle ( quirky + book reviews)
vox wonk