Clear and Present Danger: Not Catastrophic Anthropogenic Global Warming, but killer Asteroids

You can read all about it at Stop Gillard’s Carbon Tax.

 

Follow Andy on twitter

Comments

[Anton]

1.

Or how about this real and present danger:

Total Commonwealth Government Securities
on Issue - $218,002m

http://aofm.gov.au/

Looks like they are ramping the spending up to $3b a week now. A Greek summer for anyone?

[Andy Semple]

2.

Mate check out Tim Blairs' blog where he mentions the 7.1 million people who are on some form of welfare. We'll be Greece in 10 years time.

[Anton]

3.

Fiscal conservative, world's greatest treasurer, budget surplus, bla bla bla.

How is this going to last 10 years? They have been borrowing 3 billion a week for the last month, and that is on top of all the new economy destroying taxes, with a CO2 and mining tax still to come.

I will take my chances with the asteroid thanks

[Andy Semple]

4.

If the Earth is to be hit by asteroid 2004 MN4, could it please hit Canberra, specifically the newly created Department of Climate Change? Wouldn’t it be ironic.

[Lillith]

5.

It would bounce off the bubble of bull shyte that surrounds that area!

[Anton]

6.

Maybe a Suspected Catastrophic Asteriod Mitigation tax?

[Lillith]

7.

If we somehow could harness the energy from a gigantic asteroid strike, would that count as part of Gillards Clean Energy Future"

[Anton]

8.

Is bull shyte carbon neutral?

[Andy Semple]

9.

SCAM tax, very good Anton. I'll pay that one!

[Andy Semple]

10.

Isn't it civil here without the constant interference from the leftard and occu-tard trolls.

[liberal elitist]

11.

Debt-to-GDP ratios:
Australia post-Depression: 65%
Australia post-WW2: 125%
USA post-GFC: 100%
Greece post-GFC: 160%
Japan post-GFC: 225%
Australia post-GFC: 22%

Our public debt is not a problem right now, but it could become a problem if commodity and house prices continue to fall (widening the trade deficit and reducing consumer spending). That said, comparisons to Greece are ridiculous: our public debt is denominated in our own currency.

[Lillith]

12.

Wait, it is early days yet..!

[Andy Semple]

13.

Only took a leftard 38 mins to post their usual junk - LE

[Oldman]

14.

Andy, you just are just not able to argue a point are you, it seems all you are capable of are cut 'n' paste jobs and name calling? Prove me wrong, take those figures of liberal elitist and show how it is "junk".

[Lillith]

15.

Only if you are a vegetarian...!

[kraka]

16.

because none of those countries had a surplus and no debt BEFORE the GFC Oldman-try and fluff up the figures all you clowns like-this bunch of fiscal midgets has put us in a very bad position-relating our numbers to the rest of the world is irrelevant-how about relating it to our %debt before the GFC?
Also while your at it-How about you defend the AGW scam again-that should be good for a laugh

[Oldman]

17.

is Andy your boyfriend that you have to answer for him? If he was only able to argue the toss half as badly as you just did then I would have kept my mouth shut, but he never does, all he ever does is parrot someone else work ot call other shitty names.

[Andy Semple]

18.

You obviously didn't read the article did you? 50% referenced and 50% my own comment.

I just call you chicken shit as you don't have the ticker to put your real name to anything you write.

[Andy Semple]

19.

Tks Kraka for again putting that retard known as "oldman" back in his box!

[Oldman]

20.

because none of those countries had a surplus and no debt BEFORE the GFC Oldman-try and fluff up the figures all you clowns like-this bunch of fiscal midgets has put us in a very bad position-relating our numbers to the rest of the world is irrelevant-how about relating it to our %debt before the GFC?

What makes you think that government surpluses are good and deficits are bad? I would suggest that you remember that by pointing at someone and calling them mental midgets your thumb is pointing back at you.

The notion that governnment budget surpluses are good stems from the private sector notion that surpluses = profits = higher shareholder returns which does not apply to public sector. Governments brief is to fund public activities, investments and infrastructure and any obsessive calls for a surplus means that cuts have to be made to either its funding activities or its investment activities or its infrastructure spending or cut backs to John Howards overly generous tax cuts to the wealthy.

You want a surplus you tell us why it is imperative there be a surplus?

[Anton]

21.

You want a surplus you tell us why it is imperative there be a surplus

The government should aim for neither a surplus nor deficit (the debt issue I raised earlier is something completely different)

Deficit - spending too much, reduce public sector
Surplus - taxing too much, give it back

One of the problems with your ratios above is the GDP includes government spending. So by your measure, the government could improve their debt ratio by spending more, which is like Swan economics.

Australia only has about 10M income tax payers, and more than half of them get more welfare than taxes they pay. We also have an army of public servants, who get paid out of taxes rather than profits. Therefore a $3B increase in debt each week is significant.

Also note that Australia is experiencing the largest mining boom in a lifetime. These are the GOOD times, and we are going into debt - so much for balancing the budget over the economic cycle. Or is the world's greatest treasurer going to run a surplus during the hard times?

[Oldman]

22.

You are full of shit. The only time a government should be concerned by a deficit is when the economy is overheating, spending less and collecting more taxes will put the brakes on the economy.

[Oldman]

23.

You obviously didn't read the article did you? 50% referenced and 50% my own comment.

The article does nothing to refute the figures LE put up.

There are certain "immature" behaviors that don't really make sense to me and one is your habit of name calling without explanation or substance. I can only put it down to an inferiority complex, to a sense you have of insignificance, but what do I know?

[Oldman]

24.

What part of that article was original thought? The part that links (not) global warming to asteroids? Pethetic!

Perhaps someone will put a couple of those sentences in google search to see just how much were really your own words. I could not be bothered.

[Anton]

25.

2 points:

1> Keynesian economics has been completely discredited (except in the Fabian society), both theoretically and empirically. (current examples Europe and USA).

2> If Keynesian economics was valid, why is the world's greatest treasurer running a deficit when the economy is very strong (by his own words).

[Andy Semple]

26.

Who cares what figures LE put up as they have got nothing to do with my post.

[Andy Semple]

27.

And yet you still turn up Mr. I'm too chicken to put my name to anything

[Andy Semple]

28.

WTF Has your comment got to do with killer asteroids?

[Oldman]

29.

You didn't have a problem responding to Anton post that had nothing to do with your "killer asteroids". You are full of shit.

As for my name, call me Sir. LOL

[kraka]

30.

Firstly Oldfool-the deficit is bad because most of it is waste. As for governments funding public activities-can you define what you mean by that? Governments should be mainly worried about funding health,education,defence,environment and roads. There should be a minimum safety net that can be expanded when times are bad and limited when times are good. There are waaaaay too many people on the public tit who are not even looking for work-the Australian taxpayer should not be funding them. There should be a surplus when times are as good as they are now so when things go bad there is money to support the populace who deserve it-how the hell do you think Lame duck Swann got through the GFC?

[dante]

31.

Congratulation Andy, for the second time you have removed my comments. So much for free speech. What are you afraid of? Are you scared of being ridiculed? I know, it's perfectly OK for you to attempt to ridicule others (although you are not very successful due to your limits) but when it's directed at you ... oh no, not you. What did you find offensive? The fact that you continue to stick your head in the sand exposing the anatomy from which most of your posts come from? Come on, admit it's clever, isn't it?? Or are you afraid that some of your followers may be contaminated by some better ideas? You shouldn't worry, from some of the comments I read here nothing will ever convince some of them. Like you, they have their head in the sand, you can imagine the rest.

[bluebell]

32.

Alan Jones is dismantling the international Carbon Tax scam piece by piece :-)

Listen to today's podcast:

http://www.2gb.com/index.php?option=com_podcasting&task=view&id=2&Itemid=41

Andy, if you have time please listen to it, because the only politician with a PHD in this area has been blocked by Gillard and her Green smurfs from tabling his evidence.

[bluebell]

33.

Oh, and I forgot, Canada is laughing at us! The US are back peddling, and ravenous China/India won't be going down this industry and jobs destroying Carbon Tax path either.

[Andy Semple]

34.

Anton's a cool person - unlike you, Oldman. You’re just a serial pest.

[Andy Semple]

35.

I have not removed yours or anyone else’s comments.
It seems you have an inability to post a comment.
Try writing it in MS word and then pasting it the comments box. Otherwise you run the risk of the comments box timing out.

Again, I have NOT REMOVED ANY COMMENT.

Andy Semple

[Andy Semple]

36.

Just heard AJ's piece via Pod Cast.

If you haven't already done so, please read my recent post.

What the G20 really meant to say was that it was a very brave thing you did, Australia – You Stupid Idiots

http://www.andysrant.com/2011/11/what-the-g20-really-meant-to-say-was-that-it-was-a-very-brave-thing-you-did-australia-you-stupid-idi.html

[Andy Semple]

37.

It’s just mind boggling how people like Oldfool (good one Kraka), Dante and PK just don’t get it that the real Catastrophic threat to our planet is a killer asteroid and not this imaginary Anthropogenic Global Warming bullshit.
It is presumptuous to think we (humans) are a match for the sun and the cosmos.

Oldfool, Dante, Pk and any other deluded AGW tards out there should do themselves a massive favour and read “The Delinquent Teenager who was mistaken for the World’s Top Climate Expert” by Donna Laframboise.

Laframboise exposes the IPCC - no wonder no one else from the G20 believes in AGW or is worried about it

[kraka]

38.

I'm still waiting for them to explain why the temperature and sea levels are decreasing in spite of rising CO2. No matter how they argue it they are screwed because it means something else is playing a bigger role in the temperature stakes. Let's face it on our side of the fence we all agree that we should do our bit to reduce emissions because it's the right thing to do and the best way to do that is to offer the polluters fiscal incentives to do it-on their side of the fence they want wealth redistribution by firstly arguing it is to change the temperature and the climate and then they argue for a tax that not only will not affect either, but won't even reduce emissions. It would be funny if it wasn't for the fact that only the productive class will be paying for it which is precisely why the PIIGS of Europe are in the shit they are now in and why the US under the Clinton/Bush and the Obamatron Governments are going the same way. Big Government is bad but if you want the government to look after you that is what you vote for. If you want to work hard, earn more money and keep more of it-you vote for smaller Government.

[bluebell]

39.

Where ever socialism takes root you can guarantee a tidal wave of debt, social decay and manufacturing stagnation. All three are set to take root here in Australia if these clowns stay in power much longer.

[bluebell]

40.

The more this SCAM is exposed the better!!!

IPCC exposed by Author Donna Laframboise (The Bolt Report)

http://www.youtube.com/watch?v=TYPwPXNazOs&feature=player_embedded

[pk]

41.

"Dante and PK just don’t get it that the real Catastrophic threat to our planet is a killer asteroid and not this imaginary Anthropogenic Global Warming bullshit."

Oooh is this an invite to join the conversation?

becuase I thought the biggest threat to the world was from a UN lead consipracy to take over the whole world, instil a single world currency , redistribute wealth, take our guns and rape our wives. Or don't we believe that anymore?
I do find it amusing that people consider the raving red-queen himself (mr A Jones) and the Bolt report anything other than hysterical, calculating programs intended to attract controversy ratings and thus advertising revenue. To think you consider what they present is actual information - makes me glad that no-one south or west of NSW cares a toss for AJ and Bolta still has to suck at the money teat of Gina Reinhardt to fund his sunday morning ratings bomb.

As you were.

[Oldman]

42.

Do you work on being a lightweight or does it come naturally to you? First you say:

Who cares what figures LE put up as they have got nothing to do with my post.

Then you claim you reply civilly only "cool person(s)". just think of EL as a "cool person" and you may even become a little bit respected. :)

Secondly, point to any of my replies that indicate that I support either the pro-climate or denialism camps. I don't lose any sleep over the debate in parliament because the reality of power politics in Canberra means that the legislation it will be passed tomorrow by the Senate. The Greens hold all the cards on this one and nothing you, I or Alan Jones say or do will change this reality. If it will make you feel better, you can always wear a tighter pair underpants and squeal loader. :)

However, your your boss Cory will have his day in Parliament sometime in the next few years, (not sure when unless there is a double dissolution), when you can repeal the legislation. Good Luck!

Thirdly, big rocks in space? Think positively, you won't have to go to the gym if it hits Earth. In fact, you won't even have to face your maker because there is no maker. :)

[Oldman]

43.

Sorry Kaka I missed this reply.

The deficit is easily fixed:

1. Reduced government spending to levels just above those that cause riots and looting.

or,

2. Abolishing negative gearing and the Diesel subsidy.

I'll let you pick!

You really should get some sleep at night, walking the streets looking for clients seems to be stressing you out.

[bluebell]

44.

Bwaaaaaaaaaaah sez pk! Make Jones and Bolt go away!!!

Many thought the "cash for comment" affair would end Jones' career– just as they had when he was caught with his pants down in a London loo in 1988.

But he bounced back, more driven, more popular, more successful than ever.

"He is like Godzilla roaming around eating power lines," says Phillip Adams. "Rather than getting electrocuted, he grows stronger."

A series of recent health scares – prostate cancer, a brain tumour, melanoma and chronic respiratory problems – have fueled speculation that he is about to quit or dramatically scale back his workload.

Don't expect him to go any time soon. Not when his close friend Tony Abbott looks set to surf into office on a wave of anti-carbon tax fury. They'll have to carry him out in a box.

Bolt:

Australia's best-read political blogger.

[Grantley]

45.

Firstly...I am not an economist, mwerely a graduate of the school of hard knocks.

The refernces to greece are, inmho, valid. Greece has had a socialist govt for many years that has allowed its public service excessive payrises, with little or no productivity offsets, which in turn finds it way into the rest of the community...and collpased it.

So now we have the spectacle of socialist govts around the world vowing to "tip in a bit more" to the IMF to bail out basket cases like Greece.

Well, shock horror...our own socialist govt thinks this is a good thing and signs up...and this voter says the hell with you, we should not be signing up to this nonsense, we shpould be looking to our selves and ensuring that the malaise that has sunk Greece doies not sink us.

How do we do that?

By being responsible for our own actions and looking after ourselves first, second and last....the EU would not pass wind for us if we got into trouble and we should not cross the road to piss on them when they are on fire.

Election...oh please God, give us an election to end this stupidity....and thats from a wedding & funerals only person!!

[bluebell]

46.

[Election...oh please God, give us an election to end this stupidity....and thats from a wedding & funerals only person!!]

Time to dust off the old family bible and go down on bended knee.........and BEG!! You never know, it might just work.

Not happy with Abbott going overseas to London as this Carbon Tax scam legislation is rammed through the Senate!!

[bluebell]

47.

Abbott said he was going to fight this Tax with every breath and every fiber in his body - one would think that Tony would stay in the country on the eve of this toxic Tax's passage through the Senate and respond. Not happy...not happy.

[Anton]

48.

Another half answer from a halfwit. Let me help:

Reduced government spending to levels just above those that cause riots and looting and reduce taxes so that people can fend for themselves. Repeat .

Abolishing negative gearing and the Diesel subsidy and also abolish the taxes on fuel, public housing and stamp duty. Stop first home owner's grants and other distortions.

What do you understand by negative gearing? How is it any different from income tax

[Lillith]

49.

Wow!! Oldman, you just called Kraka a prostitute. Classy!

[kraka]

50.

At least you have given up defending the Global Warming scam-your still a believer but smart enough to know you have not got a leg to stand on. As for your other comments-just reduce spending to only those that deserve it-and Anton hit the nail on the head with his other suggestions regarding stamp duty and 1st home owners subsidies though I doubt you would agree with that. Apparently it is ok for government to take tax payers money and subsidize other people's home loans but not ok for people to work hard and use their hard earned to grow more wealth through the tax system. Tell me oldfool-who do you think the government gets money off to pay for pensions, health care, education etc-the boat people? In your world income tax should be raised back to 63 cents in the dollar-and you think it will work!!!!No fool like an old fool

[kraka]

51.

it's ok Lillith-Oldduck can say what she likes-all i hear is quack quack quack!

[Oldman]

52.

Now Now Kaka, don't misrepresent my words:

1. I am not GW supported and never have been.
2. I am not anti-GW and never have been, the arguments from both camps have not convinced me.
3. I am not an ALP supporter
4. I am not a Coalition supporter.
5. I believe that Cory is a fruit cake.
6. I am sympathetic to Tony Windsor and Rob Oakeshott, two of the few members of parliament who take the time to think through the issues on their merits rather than for party or ideological reasons.
7. I support a super mining tax
8. I support a curb on pokies
9. I abhor racism and I will take on who rubbishes people on the basis of race, gender or religion.
10. I initial was not in support of the First home subsidy but I concede that there where benefits to the overall economy.
11. Company Tax should at present level and every effort made to pursue companies that rort the tax system.
12. I support a more relaxed policy on boat people and refugees.
13. I am totally against our involvement in the wars in Iraq and Afghanistan.
14. I don't believe in a God.
15. The earth will not be destroyed by a space rock this morning and Andy will continue to work on his abs at the gym.

There you go! Happy now.

[Oldman]

53.

Blame Andy, he encourages name calling on this blog.

[SignedIn]

54.

It's nice to see Andy supporting increased funding for NASA so they can address these and other issues.

[liberal elitist]

55.

As requested by Kraka:

Net debt as %gdp, 2008 (estimated pre-GFC debt)

Greece		110.3

Japan		 96.5

Italy		 89.2

Germany		 49.6

US		 48.4

UK		 45.6

Spain		 30.4

Australia	 -5.4[1]

My calculation

Australia	-0.4 or -2.3 including the States[2]

[1] Source: economywatch.com. This McKinsey report at page 20 contains significantly higher figures, so I'm not sure how reliable economywatch.com is, but I've used it because it has series for both years.
[2] Based on these net debt figures and GDP of $1.16 trillion.

Net debt as %gdp, 2011

Greece		152.3 (+42.0)

Japan		127.8 (+31.3)

Italy		100.6 (+11.4)

Germany		 54.7 (+ 5.1)

US		 72.4 (+24.0)

UK		 75.1 (+29.5)

Spain		 52.6 (+22.2)

Australia	  7.8 (+13.2)[3]

My calculation

Australia	 5.9 (+6.3) or 8.5 (+10.8) including the States[4]

[3] Source: economywatch.com forecast.
[4] Based on these net debt figures and GDP of $1.4 trillion.

Yes, Australia did have net financial assets prior to the GFC, but Australia has also had a relatively low increase in debt in the past 3 years, despite a large fiscal stimulus program (which is partially responsible for Australia's low unemployment rate). Obviously any increase in debt is unsustainable in the long run - if we keep this up for the next 33 years we'll end up like Greece! - but Australia's public finances have been well managed compared to the rest of the world and our public debt is currently not what we need to worry about.

[liberal elitist]

56.

Anton: One of the problems with your ratios above is the GDP includes government spending. So by your measure, the government could improve their debt ratio by spending more, which is like Swan economics.

Showing your lack of mathematical understanding again, Anton.

Let the debt-to-GDP ratio be a/b. Then you can estimate next year's ratio after running a deficit by (a+x)/(b+x), where x is the size of the deficit. (This assumes that the increased interest burden doesn't reduce GDP, so in reality the new ratio will be larger than this.) The rate of change with respect to x (how the debt ratio changes with respect to the deficit/surplus) is (b-a)/(b+x)^2. Because (b+x)^2 is always positive, the sign of this function is positive iff b > a (the debt ratio is less than 100%).

So even if the increased interest burden had no effect on GDP, larger deficits always increase the debt ratio while it is below 100%. In reality the greater interest burden reduces GDP, which is why you can't improve the debt ratio by spending more once you get past 100%.

Anton: Also note that Australia is experiencing the largest mining boom in a lifetime. These are the GOOD times, and we are going into debt

Mining is about 8% of our economy. Most other sectors are not enjoying the 'good times.' Have you seen the XJO recently? I do agree, though, that we should implement the MRRT rather than increase the public debt or reduce spending...

Anton: What do you understand by negative gearing? How is it any different from income tax

Negative gearing allows you to deduct cashflow investment losses, but not capital losses, from salary income. If I tried to claim my fair share in the mining boom by purchasing 1,000 BHP shares at $45.25 on 31 December 2010, and sold them at today's close of $37.75 for a $7,500 loss, I don't get to claim that loss as a tax deduction against my salary. However if I had obtained a $255k loan to invest my $45k in a $300k investment property instead, then rented the property for $10k per annum (making a cash loss of about $7,500), I'd be able to deduct the loss. It's a big government subsidy for the goverment which distorts the investment market by promoting leveraged investments, diverting capital to asset classes which can be highly leveraged (ie. real estate) and fueling a housing bubble.

Sorry Andy, you're quite right: this comment has nothing with your asteroid nonsense, but I couldn't help but correct the misconceptions Anton has posted.