Friday, June 24, 2022

In which our Henry solves the energy market, and the caroling Carroll serves up the way to break Godwin's Law without style ...

 



A well-regulated militia? Here no regulation, no regulation here. 

As for regulating the pork-barreling Barilaro, some might be wondering why the pond hasn't mentioned it, but that's simply because it's a local matter, of no interest to the reptiles of Surry Hills.

Sure it might feature in other rags ...






Sure the Graudian might run a story ...







But it's a matter of some pride for the pond, and a matter of complete indifference to the lizard Oz that ever since the Rum Rebellion, the grand old state of NSW has led the country with a spirited sense of how to look after little mates ... some might have had their Joh, but we had our Robin, and the pond goes so far as to say that when it comes to a state of origin, none could match the mighty blue state for media barons indulging in a little illegal casino activity, because who needs regulations or regulators? Come on 'roaches, come on, come on ...

Speaking of regulation, our hole in the bucket man, an expert in just about everything, turned his eye on the energy market this day ... delivering a surfeit of ironies, with possibly the ultimate irony being his lack of awareness of his skill at irony ...






Still blathering about a carbon tax as a new policy, and sublimely unaware that blather about decades of disastrous policy must surely encompass the thoughts and deeds of such sublime clowns as the onion muncher and Malware and now the mutton Dutton?

It's a long and proud tradition and the pond was pleased to see it continue with the current serve from the lazy Sussan in the Graudian ...

The deputy opposition leader, Sussan Ley, has backed Peter Dutton’s decision to oppose government legislation to cut emissions by 43% by 2030, but signalled the Coalition’s climate policy could shift before the next federal election.
In an interview with Guardian Australia, the new deputy Liberal leader said it was “sensible” for the opposition not to jettison policies it took to the May election.
“If people saw us one minute in government prosecuting the policy we took to the election, and then a month later saying that’s not our policy, they would think – what do they stand for?” Ley said.
She said a fixation on emissions reduction targets was “lazy policy” and “symbolic” while contending the new Albanese government was yet to demonstrate whether or not a higher emissions reduction target would ultimately push up power prices, which have spiked because of supply disruptions globally and domestically.
But while critiquing the 43% target, Ley said the Liberal party’s position on climate and energy policy over the next three years was not fixed.
“I’m comfortable with our position, but I also accept over the next few years as we get the results of the campaign review and get an opportunity to talk to people, we have the opportunity to introduce new policy.”
The Liberal party lost six heartland seats to the “teal” climate focused independents on 21 May, and more metropolitan seats to Labor and the Greens in Melbourne, Sydney and Brisbane.

Cop a belting, so of course you'd keep on doing what you'd done, except you might not ... because that's the way to waffle on into the future ...

Back to our Henry,  suddenly remembering it's been a proud reptile tradition to have nothing to do with taxes, regulations or such like ... if the market wants to screw consumers in a monopoly product, why then let the market have its way ...







And there you have it. If we must pay through the nose, then at least let it be a visible and transparent nose ring, and the fitting of said nose ring - admittedly a somewhat intrusive short-term measure - will be paid for by the hole in the bucket man with extremely costly unregulated schemes. 

You're welcome, have a well-unregulated day ...








Indeed, indeed, the lizard Oz and the likes of the onion muncher have been at the vanguard of Australia's astonishing, world-leading response to the threat of climate change ... and that's why the pond was pleased to see that it's been the work of many hands, and our Henry seems to have disavowed any role for the reptiles or their fallen heroes in the unholy, remarkably short-sighted mess, down there with Malware's multinodal nonsense...

The final gobbet only enhanced the pond's desire to celebrate the astonishing success of the reptiles and their minions and hacks over the past few decades...







As usual, our Henry didn't disappoint, what with his Scientological take on psychoanalysis, and his reverting to Adam Smith. Be assured, the reptiles have just started, and soon we will get more from the likes of the lazy Sussan, doing their best to muddy the mess even more ...

And so to the pond's traditional survey of what's on offer ... and the pond's usual disappointment with the fare ... and such small portions too ...








The pond has no idea why minor Milner has become a fixture, but that wretched bundle left the pond with no alternative but to turn to the caroling Carroll ...






Dear sweet long absent lord, a flag waving tosser ... and apparently sublimely unaware that various amendments have been made to the flag along the way ...

The Commonwealth Star, also known as the Federation Star,originally had six points, representing the six federating colonies. In 1908, a seventh point was added to symbolise the Territory of Papua, and any future territories. (wiki)

It's not so sacred it can't be changed. It's not some eternal 2001 Sentinel ...

And as for fighting under the one flag ...

During the war, Australians fought under the British Union Flag and both the Australian Blue and Red Ensigns. The Blue Ensign was intended for official and Royal Australian Navy purposes, while the Red Ensign was the official flag for Australian registered merchant ships. Historically, the Red Ensign was also used by civilians on land and was taken onto battlefields by soldiers. Confusion over the use of the flags was resolved with the Flags Act 1953, which proclaimed the Blue Ensign as the Australian National Flag. (here)

And as for bringing back that reminder of the epic failure of the Vietnam war ...

The pond has no dog in this fight, but if a caroling Carroll is going to come up with epic bullshit of the flag waving secular benediction kind, might not he at least pay attention to the assorted ways flag waving has been done? 

Must the pond resort to Harold Scruby, of all people?

All Australians fought under (not for) the Union Jack in the Boer War. Most Australians fought under the Union Jack in World War I. Most Australians fought under either the Australian Red Ensign or the Union Jack in World War II. All Australian Naval personnel fought under the British Naval Ensign in both world wars. Relatively few have fought in declared wars under the Australian Blue Ensign as we now know it.
The fact that we proclaimed the Blue Ensign as our national Flag in 1954 and the Navy changed to the Australian Naval Ensign in 1968 does not diminish one iota the efforts of those who fought previously under other flags. Similarly, it does not diminish the efforts of those such as the Canadians, New Guineans and South Africans who fought alongside us in most of these wars, but have subsequently changed their flags. Flags evolve as nations change. The Union Jack itself has changed since Captain Cook landed here. (here)

The pond realises all this idle chatter is a little post-reflexive and post-modern and post-ironic, sssh don't mention the union jack and King Chuck, but it a little respect, please ...





So flags can be changed, and it is, after all, just a bit of cloth flapping in the wind, which makes the next caroling leap even more astonishing ...

Treason? Oh for fuck's sake, you hysterical goose, caroling in overdrive ...

The pond isn't particularly fond of green and teal as colours, but really if you want to talk of treason, talk of the mango Mussolini and his coup and those who support him ...









Sorry, the pond couldn't resist slipping in that memory from the immortal Rowe, to be found here ...

And so to the final gobbet of flag-waving, with the pond confessing that it was embarrassed to be seen in the company of the caroling Carroll ... because breaking Godwin's Law is supposed to be a pond speciality, and yet here we have the whole Orwellian Adolf goose step back for the umpteenth time ...







Next time? If the reptiles are going to lather up a culture war then there going to have to do a lot better than this tired old emeritus warrior ...

And as our Henry wouldn't go there, please allow the pond to celebrate Ovid on Climate Change, by Eliza Griswold ...

Bastard, the other boys teased him,
till Phaethon unleashed the steeds
of Armageddon. He couldn’t hold
their reins. Driving the sun too close
to earth, the boy withered rivers,
torched Eucalyptus groves, until the hills
burst into flame, and the people’s blood
boiled through the skin. Ethiopia,
land of   burnt faces. In a boy’s rage
for a name, the myth of race begins.

Or perhaps a little Dylan ...

Oh, where have you been, my blue-eyed son?
Oh, where have you been, my darling young one?
I’ve stumbled on the side of twelve misty mountains
I’ve walked and I’ve crawled on six crooked highways
I’ve stepped in the middle of seven sad forests
I’ve been out in front of a dozen dead oceans
I’ve been ten thousand miles in the mouth of a graveyard
And it’s a hard, and it’s a hard, it’s a hard, and it’s a hard
And it’s a hard rain’s a-gonna fall

Oh, what did you see, my blue-eyed son?
Oh, what did you see, my darling young one?
I saw a newborn baby with wild wolves all around it
I saw a highway of diamonds with nobody on it
I saw a black branch with blood that kept drippin’
I saw a room full of men with their hammers a-bleedin’
I saw a white ladder all covered with water
I saw ten thousand talkers whose tongues were all broken
I saw guns and sharp swords in the hands of young children
And it’s a hard, and it’s a hard, it’s a hard, it’s a hard
And it’s a hard heat’s a-gonna fall

Make a culture war out of that ... while the pond heads off for its serve of Rowe, in his usual coprophiliac mood, with the pond beginning to think better a serve of a shit sandwich than a serve of an hysterical caroling Carroll ...










10 comments:

  1. The words of Holely Henry: "The NEM is notoriously complex..."

    So, if at first you don't succeed:
    Energy Market:
    https://www.youtube.com/watch?v=ELaBzj7cn14

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    1. Pretty much covers everything, doesn't it? So much work over so many years to build systems to benefit the public all sacrificed to grift and ideology.

      Not to mention an old duffer like Henry thinking he understands things work. Question: How many economists does it take to change a light bulb? Answer: None, the invisible hand of the market will do it.

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    2. I reckon it's never been clearer, the distinction between those who 'build systems to benefit' and those who exploit ideology to institute grift. It's certainly rampant in the USA and we're doing our best to catch up.

      Delete
  2. Here he goes, Henry the Holely: "what the Austrian essayist Karl Kraus said of psychoanalysis..." way down in the last gobbet so we'd almost despaired of Holely H trotting out a reference to some obscure "essayist" that only he has read or remembered. But he came good, and by specifically using the descriptor "essayist" subtly let us know that he wasn't referring to the German theoretical physicist.

    Oh well done yet again.

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    Replies
    1. In skirting around the bog that is our electricity market, the Henry of the column this day, seems to have activated a limp memory, when he places us ‘in the world of the 10th best’.

      I allow him a concession, that he had recollection of some treatment of markets as involving, perhaps, somethingth best? But that did not trigger any surrounding brain cells, so he went for ‘10th best’.

      What this Henry has been trying to demonstrate to us, although as random observations in no sensible order, is covered in ‘the general theory of second best’. This has been in mainstream economics since 1956, when it was set out by Richard Lipsey, and the Australian, Kelvin Lancaster.

      The ‘Wiki’ gives a good summary - ‘if one optimality condition in an economic model cannot be satisfied, it is possible that the next-best solution involves changing other variables away from the values that would otherwise be optimal.’

      Or, in a form the Henry might have found convenient - if you have a market that seems to be working, then somebody messes up part of it, you can’t just continue with the rest of that market structure and hope all will come out well - you probably have to change other controls in the market to move towards an optimal (or even practical) arrangement.

      Hugh Hudson, one time minister in South Australia, who set out a scheme for reserving gas from the Cooper Basin for domestic use in his negotiations in 1979 with Alan Bond, when Bond was trying to take control of what became SANTOS, was familiar with ‘Lipsey and Lancaster’, and cited it regularly in proposals he made for markets as a way to allocate natural resources. I think his scheme for the Cooper Basin was the first to set aside a domestic reserve in natural gas in Australia, but I may have missed some precedent in another state.

      It has all been there, readily accessible, in the literature, for a couple of generations. In that time, there have been several reviews of the use of the theory of second best, refining its application, and showing that it was of solid practical use to those who wished to set up markets to allocate the people’s resources.

      It seems the Henry never felt any need of it in his professional life.

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    2. Well neither Lipsey nor Lancaster are ancient Greek or Roman historians and nor are they Austrian "essayists", so fair swig Chad, you really can't expect Henry to have read, or even heard of, either of them.

      I like the concept of 'second best' though which just illustrates that perfection cannot be achieved by making a succession of small adjustments in just one variable at a time. Now if only the whole concept of "best" wasn't so grossly subjective, we might actually be able to make progress some day, or year or century or millennia or so.

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    3. GB - Richard Lipsey is still contributing to the study of economics as Professor Emeritus at Simon Fraser U in Canada. Being extant tends to rule him out of our Henry's considerations - more so when he, Lipsey, is 93 years old, so could claim to be truly an elder statesman

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  3. "The pond has no idea why minor Milner has become a fixture". No, nor I, other than he's a beneficiary of wingnut welfare. But if he wants to go on about Albo seeking to "find out what the party must do to win Queensland back" then going to KRudd to find out may not be the best strategy. But perhaps Cam might have a recommendation or two for what the LNP might have to do to win NSW and Victoria back.

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  4. For the Carroll and 'the flag' - I suppose it is consistent with claiming to be a sociologist that you make observations on myths, and what you think they mean to people, than to confuse your thesis with facts. Certainly works for that other great sociologist, Cater.

    I do wonder if the Carroll, in his youth, was given to telling 'mates' about 'this mate - we go back to primary school, so I swear this is true - anyway, he used to drive a readmix truck. One day he had a job near where his own home was, so he thought he'd give the missus a surprise and drop in for a cuppa. Anyway - as he comes down the street he sees this real flashy Merc. parked right outside his place.'

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    1. Oh, c'mon Chad, as the crooning Carroll would have it: "There us nothing new about radical culture warriors intent on undermining their own societies." Now just not standing next to a bit of cloth that is claimed to be the 'true' Australian flag is an indisputably effective way of 'undermining one's own society', isn't it ? Nearly as damn good as going down on a knee - after all just consider how much the American society has been completely demolished by that fiendish practice.

      On the other hand, maybe it's just the well established wingnut tactic of criticising the"enemy" at every turn in any way possible. One just never knows how many 'quiet Australian patriots' won't vote for Greens (or Teals ?) next time.

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