Posted by: graemebird | June 12, 2012

Bad Samaritans/Why Tariffs “Work” Despite Impeccable Economic Logic To The Contrary.

More later.


  1. […] uncensored on “Bad Samaritans/Why Tariffs “Work” Despite Impeccable Economic Logic To The Contrary.“ @ A Better World: Graeme Bird For High Office. Share this:TwitterFacebookLike this:LikeBe […]

  2. Here we have a way for Beijing to show she has arrived on the diplomatic scene without putting the fear into ordinary members of the public. And for once I can report being in strong agreement with Cambria. Cambria types then quotes:

    “Go China on this one. Take their planes if necessary.

    BEIJING (Reuters) – China will take swift counter-measures that could include impounding European aircraft if the European Union punishes Chinese airlines for non-compliance with a scheme to curb carbon emissions, the China Air Transport Association said on Tuesday.

    Chinese airlines, which have been told by Beijing not to comply with the EU’s Emissions Trading Scheme, refused to meet a March 31 deadline for submitting carbon emissions data.

    EU Climate Commissioner Connie Hedegaard has said carriers have until mid-June to submit their data before enforcement action is taken.

    “Chinese airlines are unanimous on this. We won’t provide the data,” Wei Zhenzhong, secretary general of the China Air Transport Association, said on the sidelines of an International Air Transport Association (IATA) meeting in Beijing.

    The Chinese group represents major airlines there, including the big three state-controlled carriers Air China, China Southern Airlines, and China Eastern Airlines.

    “The government at least will take the same kind of measures and these anti-sanction moves will be lasting,” Wei said.

    However he said: “We would try to avoid any trade war.””

    Don’t be taking shit from these fucking lying presumptuous hypocritical assholes in Europe. Its time to bring the economic slipper down on these myriad midget Stalin wannabes.

  3. A BETTER WORLD: Portrait of the artist as a stupid fucking toddler. From an email to a childhood friend:

    What I remember from that time, is I had to make a choice of who I’d side with, you or Richard Sucich. And I said …. “Well I’m going to choose my friend Benny-boy” and I started punching Sucich. But a year earlier I had just gotten to the primary school. And I sought you out, and Grant Cherrington and a couple of others maybe. Anyway there were three of us. And we decided we needed a leader. A leader to lead the three of us. I was five so you must have been almost six. So I said I’d be the leader. You reckoned “go on then.”

    Well I didn’t know what the fuck to do. So I started walking backwards, and swinging my arms in and out. You said “No no no. Thats not a leader. Thats a CONDUCTOR.”

    I guess you were years ahead of the rest of us, but it goes to show I was making a complete cunt of myself from the fucking minute I fucking walked through the school gates.

  4. The shadow government is attempting to sterilize everyone. They must be convinced that everyone else is having too many kids but them:

  5. We must congratulate little Iceland for being the only country in the world taking a sane approach in the face of mega-incompetent banking criminals. Notice that this is one of the few economies in the area doing any good.

  6. Cunts

  7. Mr B

    What happened to the new policy?

  8. I haven’t been looking at the stock market lately. Much less the American stockmarket. But there has to be an expectation of a stock market crash coming up over the next few months, unless it were the case that stocks were already undervalued. I say this because the capital gains tax in the US is going from 15 to 23%. I think this is happening in October. So a lot of people will want to cash up and pay the lower capital gains rate.

  9. There is no reforming the drop-kicks at Catallaxy. This thread over there is a thing of wonderment and amazement. New Gold Dream is understating his case, but if he gets a bit more strident he’ll be banned permanently for being me.

  10. The Dopey Wog says banksters Lying and Scheming is no biggie.

    He says he used to do it all the time when he was running a Ponzi in New York so what’s the drama.

  11. Yeah and to think I was drinking his wine, and appreciating his mummified-Joe-90 presence. That whole thread is a thing of amazement and wonderment to me.


    A person who appreciates the early “DIRTY HARRY” movies and the movie “Cougans Bluff” would see that if you are acting illegally, but with scrupulous morality and care, then a righteous man might appreciate your efforts.

    And jumping to the other foot, if you are raping the public, distorting the political sphere, destroying rational productive expenditure, and yet ARE SCRUPULOUSLY LEGAL ABOUT IT, then I might hold off coming around to your place and slitting your puppies throat.


    Is it fucking one thing or another. Is he fucking Cliff Richard, or fucking Judas Priest.

    He’s fucking too far gone to save and we might have to wipe out his entire gene pool for the greater good if he does not repent soon.

    I just don’t understand the argument. And with that toadying faux-Jew Sinclair as well.

    What the fuck is the argument? What the fuck is the point they are making?

  12. Keith Richards is so horribly underrated and in his own mind he had every right to think that he was the most talented musician of his generation and then Prince came along. And here is Keith feeling this terrible jealously for the first time. For whereas in the past, other people had been praised to the roof, and he had been ignored, this was the first time a fellow was getting praised to the roof and that Keith subconsciously may have felt he’d been bested.

    So anyway its about three am in the morning and Keith shows up at Eric Claptons place. Knocking on his window in New York. And Keith is there rubbishing Prince. Just going on and on about how Prince is crap and Prince is no good.

    And Eric is totally taken aback!!! Eric is trying to tell Keith that he (Eric) has been trying with all his might to get to a place and achieve something and do something that he is striving for, and that while he was reaching, here comes Prince and he’s actually out there doing it.

    Well Keith argues the case against Prince on and on and its about fucking five in the morning and Eric says … okay fine. You are right.

    But then this was a time where everybody loved Prince. But we need to get to a moment where everyone loves Keith.

  13. The dumb woppy is at it again:

    Cambria Links:


    Cambria sez:

    You know, I think the Kenyan was born in the US, but i also think there’s still smoke there and there’s something in it he doesn’t want people to see.

    The same with his college records.

    I love this stuff because I know it just gets to him in a big way.

    The dumb bastard quote:

    “You know, I think the Kenyan was born in the US…..”

    Come now. What are the chances of that? And what is the possibility of him proving this at this late stage? About 10% and less than 0.1% respectively. The man is therefore a usurper. Everything he’s done in office has therefore been an act of heinous illegality. Even the otherwise legal actions.

    The fact is that Soetoro was Born Barrack Obama, in the Coast Providence Hospital, right by the ocean, as a British citizen, in what is now known as Tanzania, very close to the place in Kenya, where his alleged (but not actual) grandparents live. Both Tanzania and Kenya were British commonwealth territory in 1961.

    Correction: He was born in the Coast Providence Hospital in what is now KENYA. MOMBASA Kenya. The hospital is close to the ocean, but actually up river a short way. Why did I say Tanzania? I’ll check.

    “Mombasa became the capital of the Protectorate of Kenya, a coastal strip still nominally under the sovereignity of the Sultans of Zanzibar, in 1920. On December 12, 1963 it became part of the newly independent Republic of Kenya.[8]”

    Zanzibar is in Tanzania. So in a manner of speaking you could say that Mombasa was effectively a Tanzanian city until 1963. Or some technicality of this sort, which is not important. But he’s an exotic fucking criminal I’ll give him that. A communist Muslim, whose homosexual, with two daughers, born to an American Mother, and Malcolm X, under the sovereignty of the Sultans of Zanzibar.

    I ask you. Has there EVER been a complete cunt even close to as exotic as this fellow in all of history?

  14. Oil prices should start coming down over the next few months before building up again.

    Parts of the rest of the world may well face energy problems over the next few decades. But in the US this threat has been forestalled, despite powerful efforts to rob people of access to cheap energy. This is because of the natural gas revolution. And the US has been very lucky in this regard. Still the US will collapse both economically and socially in the near term. But they won’t have severe energy stress to blame.

  15. Here’s the more substantial link proving that Soetoro is an usurper, and according to constitutional law must be arrested and taken away in shackles. He cannot even be impeached. Since you need to actually BE PRESIDENT to be impeached. He’s a fugitive from the rightful application of the highest law in the Republic.

  16. Wiki:

    “The Obama family is largely concentrated in the western province of Nyanza.”

    Map reference for this province:

    So his family comes from the West of Kenya, pretty close to where Uganda, Kenya and Tanzania come together.

  17. Cambria being a wimpy girly-man.


    I actually don’t think the reason the Kenyan keeps his college records sealed is because of bad grades and shit like that. it doesn’t really matter much because according to some stuff i read he did graduate in the top 1/3 of Harvard law which by any estimate is not bad. Not hugely smart like say Romney who was in the top 1 or 5%, but it’s still respectable.

    I think there’s stuff in there tough that would embarrass him a great deal.

    I think CL touched on it some time ago. He may have gained entry to Harvard law, by claiming he was Kenyan and therefore lying in the same way Pocohantas Warren lied. I think I read at that at time here was special consideration given to international students.

    It would be great if it came out.

    He’d be finished as it would make him look like a complete fraud.”

  18. Amazing. The first time in four years that Sinclair isn’t toadying to the banking parasites. Four years is a long time to wait. This news is so shocking and so uncharacteristic that I thought I better alert the media.

    Details to follow. But I personally think its quite shocking that the leading critics of banker parasitism in Australian economics are both Keynesian. (Kean no.1 and an honorable mention to Professor Quiggin. Who probably lost his financial review gig for his excellent observations in this regard.)

  19. ““I have $134 Billion that I have to Disperse between Now and the End of December””

    But this was the attitude here too. And the proponents of this literal Keynesian nightmare have been let totally off the hook by their colleagues. No personal attacks at all. The sucking up to the General Theory used to be more like a religious ritual. Nobody just went out and did it, like what we saw in 2008. Government lazily went into deficit, and using Keynes as a feeble excuse. The classes got taught, all the lies intact, no evidence tended.

    But no-one actually came along and performed this sort of idiocy until the emergence of lunatics like Hank Paulson, Andrew Leigh, and Nick Gruen. These people are fiscal psychopaths, who came out of nowhere, with a literal interpretation of the lie, and for the first time ever.

    The main thing about the Paulson economic vandalism, was it was a clear-cut way to make the other Paulson rich. The media tells us that they are not related. But they were two sides of the same rip-off.

    19 Jul 12 at 5:28 pm
    Its a little bit like that Hitchcock movie where two students murder this kid, basing it on some sort of German philosophical nastiness. Whereas many read this type of thinking and take an interest in it, most people are house-trained enough not to take it seriously. So with the Keynes stuff. To keep the exploitation going decade after decade, you need to put people off the bait of the authentic scandal. Keynes and Marx help with this, blaming everyone other then the real culprits. So we all have to learn this stuff.

    But no-one is enough of a psychopath, or such an illogical idiot, to actually front up and do this sort of thing. Rather the self-interest that leads to deficit spending and other economic vandalism is there decade after decade searching around for justification.

    But then Paulson, Leigh, Gruen, and others show up like the kids out of the Hitch-cock movie, and they wrap a rope around the neck of Western Civilisation itself, with their high-pressure hose version of spending all they can on rubbish before Christmas.

    These are lunatics I speak of. And the people on the right who shield them are the ones that need a good knee-capping.

    19 Jul 12 at 5:42 pm

  20. I’m fucking disappointed with Mark Hill. I thought he’d grown out of the lying. He wouldn’t piss or get off the pot on the question of the fake bin Laden assassination. Then I pointed out that this was akin to his incapacity to do so with the Keynesian multiplier as well!!!!!!! Well what a cunt. He lied to all parties present and said that he had presented evidence for this bullshit.

    Of course no evidence COULD EVER have been produced, unless a valid proxy for spending was used. And the lying cunt knows for a fact that he doesn’t have the data. Since they always use either nominal (or “real” HAHAHAHAHAHHA) GDP.

  21. Its disappointing because I thought that he had grown out of this sort of thing for the most part. The quality of his comments had generally been improving (admittedly from a fucking low base) and its really sad to see him take one step forward over several months and then take ten steps back when the cunt feels under pressure.

  22. The terrible thing is he’s probably got the resources to hand, and the skills, to do some real research if he’d accept my guidance and admit to himself that my understanding of the nexus between the real world and economic theory is pretty much unsurpassed in ozblogistan.

    If any of these cunts stop acting like they knew a lot of stuff, and actually decided they want to do some good work, I could point them in the right direction like I was a certain young Corsican Cannoneer.

  23. Isn’t it about time some of our economists actually fucking worked for a living? Keane is over there in the states doing valid research. Quiggin wrote a pretty good book not long ago. But I consider more an excellent lay-observer with biases that we can work around. Rather then any sound economist. I just see him as an ally on a few matters that he has been rather good with. But Keane is actually adding to the sum total of economic science. I cannot even think of one other Australian economist who is doing this right now. Though I don’t pretend to know what these dropkicks are up to.

    But you’ve always got to point it out when these public servants stop acting like fucking public servants, and actually start serving the public for a fucking change. And so Keane is the man right now. Quiggin gets an honorable mention….. even if he carries both the left-wing and Keynesian mental handicap.

  24. Your comment is awaiting moderation.
    As excellent as the Austrian and British Classical Schools are in terms of being such well thought out edifices of human reason ……. They are not true to the situation we face ourselves in. Take profit maximisation just for example? Does anyone go from being in rags, to being a property magnate, on the grounds of profit maximisation? No of course not. So what are the bigshots really chasing?
    If profit maximisation were really the goal of DECISION-MAKERS (ie real humans with influence (as opposed to getting locked into any “theory of the firm”)), then under even reasonably (only reasonably) sound background conditions, resource allocation would not be too bad, as against the disgrace of resource allocation we see today.
    Not the individual banks, but the banks TAKEN AS A CARTEL create money out of thin air. But people are right to object to us throwing moral opprobrium on this racket, on the grounds that; the banks cannot be getting the full benefit of the counterfeiting racket that a counterfeiter would. Because after all when their asset (your debt) is created, the banks also have a new liability on their balance sheets, of the same quantity in short order.
    Now the banking system rigs it that their liability will always reduce in value, and therefore can be dismissed, and their asset will always out-pace inflation. They rig this with central bank policy. I’ve heard this wicket called “arbitrage” and its been suggested that the answer is to force tighter money on the central bank. Ha ha. Like any politician is in a position to push the banking sector around. Like a central bank is beholden to anyone but the banking sector? Maybe in the sixties in the southern hemisphere such a fantasy could be sustained.
    But its not just a matter of arbitrage or a difference of opinion on monetary policy. And if it is HERE its certainly not, when it comes to the Northern hemisphere.
    Nonetheless the people who argue correctly that the banking industries new assets (via their money creation scam) are always matched by the same quantity of addition to their new liabilities, do have a point.
    How is this resolved to the moral disfavour of this obvious counterfeiting racket?:
    The fact is that like most scams, the scammer has to share a bit of the booty out to middlemen. The illegal drugs booty (economic rent) is shared out to the street dealer. And the cartel picks up “little-fish” now and again (as the cop in “Scarface would have it.”)
    The legal drug-dealing scammers, who are fundamentally the same scammers as the afformentioned networks ….. well they have to give the Doctors a cut. Doctors being after all, drug-dealing prescription writers first, and health professionals second, and for the most part sincere in both their roles.
    So the point of business, or at least the way to get rich, is NOT to profit maximise. Its to give up such notions, about the time you give up on Santa Claus. You see you want to be the other beneficiary to the money creation scam. The banks cannot be the total beneficiary. The banks must accept the liabilities they are bound to incur, along with the assets they expropriate through trickery.
    Your mission (should you choose to accept it) is to be the partner to the bankers money-creation scam. This involves you getting the best interest rate available, on a SURE THING, which in practice means having excellent collateral.
    The banks create money on sure things. Thats why the instincts of people like Professor Quiggin and the great writer Bob Ellis are dead-on when it comes to privatisation. Because what happens is that the investment bankers, the lawyers, the economic consultants …. well they all tongue the ear of the sitting politicians, and get a SURE THING. Competitive business IS NEVER SUPPOSED TO BE A SURE THING. A sure thing is proof of market dysfunction.
    Then they pyramid money creation against this sure thing. The net result is that we take all the good things AND ADD DEBT BURDENS TO THEM. Privatisation is about taking something good, AND ADDING DEBT TO IT. That debt has come about through new money creation. The resources therefore having been expropriated from other Australians.
    Moving on we see that there are a lot of get-rich gurus out there in the book market. Some of them are really smart guys who have proved their mettle in good times and bad. And when you boil down what they have to offer, you find that getting rich is about seeking out the fractional reserve subsidy. Getting rich is about being on the other half of the money-creation racket. Its about being the partner with the banking cartel, wherein they extort the wealth of society through new money creation, and your job is to be the other half of that windfall.
    Not long ago I scored a big low-interest loan. It took all my high-interest debt off the table and it turned my life around. Unless there is a sudden sado-monetary epoch that throws most people out of work, this constitutes a massive subsidy. A massive subsidy that I don’t deserve in micro, but that I can consider it okay for me to accept as compensation for taxes and for being stiffed when I fell into debt-addiction.
    Well thats a single loan for me. But the rich slobs are getting this subsidy week in week out, pretty much from the time they turn 21. And we need a REAL new deal, to set this thing to rights and to make sure that no-one gets the money creation subsidy any more ……. the treasury and the extraction industries, alone excepted.

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