Comments on: I’m for ever blowing bubbles? http://johnredwoodsdiary.com/2009/05/30/im-for-ever-blowing-bubbles/ Incisive and topical campaigns and commentary on today's issues and tomorrow's problems Thu, 09 Feb 2012 20:05:58 +0000 hourly 1 By: Neil Craig http://johnredwoodsdiary.com/2009/05/30/im-for-ever-blowing-bubbles/#comment-17035 Neil Craig Sun, 31 May 2009 13:11:33 +0000 http://www.johnredwoodsdiary.com/?p=3773#comment-17035 The cost of refining shale oil has dropped to about $25 per barrel, though the Israelis have claimed $17. This is because the technology has improved over the years. This makes it more expensive than North sea oil but not by that much. http://zfacts.com/p/218.html There is a proposal to use a nuclear reactor to heat it even more easily in quantity which would be considerably cheaper. As normal the problems ade political more than engineering ones. The cost of refining shale oil has dropped to about $25 per barrel, though the Israelis have claimed $17. This is because the technology has improved over the years. This makes it more expensive than North sea oil but not by that much.
http://zfacts.com/p/218.html
There is a proposal to use a nuclear reactor to heat it even more easily in quantity which would be considerably cheaper. As normal the problems ade political more than engineering ones.

]]> By: Stuart Fairney http://johnredwoodsdiary.com/2009/05/30/im-for-ever-blowing-bubbles/#comment-17034 Stuart Fairney Sun, 31 May 2009 08:47:32 +0000 http://www.johnredwoodsdiary.com/?p=3773#comment-17034 In shock to no-one, this analysis eluded a certain BBC economics correspondent, who noted as part of his report "there was no obvious reason" for the oil price going up. Or in other words, he didn't know why (ha ha ha......) That's £90K of the licence fee well spent I wish they would stop, I was driving and such comedy during alleged news surely affects my safe use of the vehicle In shock to no-one, this analysis eluded a certain BBC economics correspondent, who noted as part of his report “there was no obvious reason” for the oil price going up. Or in other words, he didn’t know why (ha ha ha……) That’s £90K of the licence fee well spent

I wish they would stop, I was driving and such comedy during alleged news surely affects my safe use of the vehicle

]]> By: andy dan http://johnredwoodsdiary.com/2009/05/30/im-for-ever-blowing-bubbles/#comment-17033 andy dan Sat, 30 May 2009 20:00:10 +0000 http://www.johnredwoodsdiary.com/?p=3773#comment-17033 I always thought that the "oil sands", or "oil shales" in Canada were an uneconomic source of oil due to the amount of energy needed to extract the oil, plus the environmental damage caused. There's no guarantee technology will be in place soon enough to make them a viable source of energy. Is there? I always thought that the “oil sands”, or “oil shales” in Canada were an uneconomic source of oil due to the amount of energy needed to extract the oil, plus the environmental damage caused. There’s no guarantee technology will be in place soon enough to make them a viable source of energy. Is there?

]]> By: Mike Stallard http://johnredwoodsdiary.com/2009/05/30/im-for-ever-blowing-bubbles/#comment-17032 Mike Stallard Sat, 30 May 2009 19:36:51 +0000 http://www.johnredwoodsdiary.com/?p=3773#comment-17032 When the Labour government decides eventually to make "Tory Cuts", then we face a "winter of discontent" where everyone living so very handsomely in the public sector will go on strike. Remember the rubbish in the streets? The unburied dead? The closed schools and 'ospitals? The masses of shouting "teachers" and "nurses", many of whom had never seen the inside of either a hospital or a classroom, yelling their heads off in the street? More positively: if only we could collect less tax; impose less regulation and inspection; pump out less hypocritical egalitarian pretence from oligarchic Liberals living off the fat of the land, and TRUST the British people to invent, work and export, then, I do believe, things can only get better. I know a song about that...... When the Labour government decides eventually to make “Tory Cuts”, then we face a “winter of discontent” where everyone living so very handsomely in the public sector will go on strike. Remember the rubbish in the streets? The unburied dead? The closed schools and ‘ospitals? The masses of shouting “teachers” and “nurses”, many of whom had never seen the inside of either a hospital or a classroom, yelling their heads off in the street?
More positively: if only we could collect less tax; impose less regulation and inspection; pump out less hypocritical egalitarian pretence from oligarchic Liberals living off the fat of the land, and TRUST the British people to invent, work and export, then, I do believe, things can only get better.
I know a song about that……

]]> By: Mike Stallard http://johnredwoodsdiary.com/2009/05/30/im-for-ever-blowing-bubbles/#comment-17031 Mike Stallard Sat, 30 May 2009 19:26:13 +0000 http://www.johnredwoodsdiary.com/?p=3773#comment-17031 Yesterday at our Church we had an art afternoon in the sun. What moved me very deeply was the way that normal English families were accepting the Polish children as friends and they were even baby sitting and taking them out with their own children. The parents were really trying to learn English. I asked the daughter of a Keralese immigrant to come and help me teach Eastern Europeans because we needed people with a really good command of English. She, by the way, is doing it for the Duke of Edinburgh silver award. May I also take the risk of linking immigration with birth control and abortion? Without banging on about it, I must say that getting rid of something like a quarter of a million babies every year and also discouraging marriage must have some effect on the population? And where there is a vacuum..... Yesterday at our Church we had an art afternoon in the sun. What moved me very deeply was the way that normal English families were accepting the Polish children as friends and they were even baby sitting and taking them out with their own children. The parents were really trying to learn English.
I asked the daughter of a Keralese immigrant to come and help me teach Eastern Europeans because we needed people with a really good command of English. She, by the way, is doing it for the Duke of Edinburgh silver award.
May I also take the risk of linking immigration with birth control and abortion? Without banging on about it, I must say that getting rid of something like a quarter of a million babies every year and also discouraging marriage must have some effect on the population?
And where there is a vacuum…..

]]> By: Neil Craig http://johnredwoodsdiary.com/2009/05/30/im-for-ever-blowing-bubbles/#comment-17030 Neil Craig Sat, 30 May 2009 12:38:16 +0000 http://www.johnredwoodsdiary.com/?p=3773#comment-17030 Oil is a very poor speculator's investment since there technoloogy has made unlimited quantities available in Canada's & elsewhere's tar sands whose exploitation will increase with time & actially inlimited quantities are available by gtowing oil producing algae whose explotation is probably about 5 years behind where we are with tar sands. If people are speculating in thet, also British government bonds, there is no money shortage just a shortage of profitable investment opportunities. That shortage is entirely caused by the Luddism of western countries. Technology is advancing faster than ever & that always produces comensurate investment opportunities it is just that if you want to build nuclear power plants or farm with GM or sell people with Alzheimers a drug called Rember which has had startling results you simply can't. Even when productive investment is allowed it is so hedged with restrictions you are likely to be soon undercut by China. This is not how European civilisation succeeded it is how Imperial China's failed. Oil is a very poor speculator’s investment since there technoloogy has made unlimited quantities available in Canada’s & elsewhere’s tar sands whose exploitation will increase with time & actially inlimited quantities are available by gtowing oil producing algae whose explotation is probably about 5 years behind where we are with tar sands.

If people are speculating in thet, also British government bonds, there is no money shortage just a shortage of profitable investment opportunities.

That shortage is entirely caused by the Luddism of western countries. Technology is advancing faster than ever & that always produces comensurate investment opportunities it is just that if you want to build nuclear power plants or farm with GM or sell people with Alzheimers a drug called Rember which has had startling results you simply can’t. Even when productive investment is allowed it is so hedged with restrictions you are likely to be soon undercut by China. This is not how European civilisation succeeded it is how Imperial China’s failed.

]]> By: Josh http://johnredwoodsdiary.com/2009/05/30/im-for-ever-blowing-bubbles/#comment-17029 Josh Sat, 30 May 2009 11:59:28 +0000 http://www.johnredwoodsdiary.com/?p=3773#comment-17029 As the lefties like to dub those of a classical liberal disposition as ''neo'' liberals or ''neo'' conservatives in order to trick people into believing we are neo-nazi capitalist monsters who sacrifice babies to our capitalistic demon gods in Germanic forests, I shall now call them ''Neo'' Keynesians. There, I feel better now As the lefties like to dub those of a classical liberal disposition as ”neo” liberals or ”neo” conservatives in order to trick people into believing we are neo-nazi capitalist monsters who sacrifice babies to our capitalistic demon gods in Germanic forests, I shall now call them ”Neo” Keynesians. There, I feel better now

]]> By: Josh http://johnredwoodsdiary.com/2009/05/30/im-for-ever-blowing-bubbles/#comment-17028 Josh Sat, 30 May 2009 11:51:09 +0000 http://www.johnredwoodsdiary.com/?p=3773#comment-17028 What confuses me is all these New Keynesian economists (Hutton*, Krugman* and the like) are proposing a massive fiscal boost financed by deficit spending, yet they seem to be forgetting the other half of JM's theory, that a country should have a budget surplus during the boom years in order to stimulate aggregate demand during the downturn. We or the Americans didn't. And they are increasing QE because the central bankers (I'd like to use a stronger, rhyming word, but I'm too polite) the pace of decline is slowing. It might be cheaper to live in Zimbabwe soon *It hurts me to describe these two men as economists, it really hurts... What confuses me is all these New Keynesian economists (Hutton*, Krugman* and the like) are proposing a massive fiscal boost financed by deficit spending, yet they seem to be forgetting the other half of JM’s theory, that a country should have a budget surplus during the boom years in order to stimulate aggregate demand during the downturn. We or the Americans didn’t. And they are increasing QE because the central bankers (I’d like to use a stronger, rhyming word, but I’m too polite) the pace of decline is slowing. It might be cheaper to live in Zimbabwe soon

*It hurts me to describe these two men as economists, it really hurts…

]]> By: Demetrius http://johnredwoodsdiary.com/2009/05/30/im-for-ever-blowing-bubbles/#comment-17027 Demetrius Sat, 30 May 2009 10:30:58 +0000 http://www.johnredwoodsdiary.com/?p=3773#comment-17027 It has gone chaotic in the full sense of the word. So few people, if any know what they are doing, and more often why. Making sense of it is almost impossible. And now we learn that in 2004 apparently the regulators had Northern Rock marked to fail. So who was responsible for avoiding that issue then? It has gone chaotic in the full sense of the word. So few people, if any know what they are doing, and more often why. Making sense of it is almost impossible. And now we learn that in 2004 apparently the regulators had Northern Rock marked to fail. So who was responsible for avoiding that issue then?

]]> By: Acorn http://johnredwoodsdiary.com/2009/05/30/im-for-ever-blowing-bubbles/#comment-17026 Acorn Sat, 30 May 2009 10:23:17 +0000 http://www.johnredwoodsdiary.com/?p=3773#comment-17026 "The extent of the borrowing needs of both the US and UK governments tower over markets - JR." (Christ JR, I wish you would consider setting up your own Party, I see Redwood Hannan and Carswell on the banners already.) John Mauldin has a great piece on where is all the money going to come from to fund these sovereign deficits (see link). Will there be any left for the people who actually make things that people world wide will need, and want, to buy? The smart money is chasing up commodity prices because they know these are the things that will keep there value as the fiat money quantitatively eases its way into circulation. Massive doses of global inflation are required to reduce these sovereign debts for all countries; and they all will be doing it. There will be demands from creditor countries for commodities to be traded in their own currencies, not in currencies of the big debtor nations. http://www.frontlinethoughts.com/article.asp?id=mwo052309 “The extent of the borrowing needs of both the US and UK governments tower over markets – JR.”

(Christ JR, I wish you would consider setting up your own Party, I see Redwood Hannan and Carswell on the banners already.)

John Mauldin has a great piece on where is all the money going to come from to fund these sovereign deficits (see link). Will there be any left for the people who actually make things that people world wide will need, and want, to buy?

The smart money is chasing up commodity prices because they know these are the things that will keep there value as the fiat money quantitatively eases its way into circulation. Massive doses of global inflation are required to reduce these sovereign debts for all countries; and they all will be doing it. There will be demands from creditor countries for commodities to be traded in their own currencies, not in currencies of the big debtor nations.

http://www.frontlinethoughts.com/article.asp?id=mwo052309

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