Political Correctness

When white supremacist extremist narratives get torched by reality

What the mainstream media wanted you to believe – white supremacy, violence, far right extremists and militia groups.

What actually happened is contained in the video below and the 1 min 50 sec mark will have you in stitches over the dig at identity politics. One could almost be forgiven for thinking the mainstream media was disappointed that the rally didn’t turn ugly.

You be the judge.

Central banks are climate change experts now. If only they possessed such skill in their core competency

Are these people for real? Does the Bank for International Settlements (BIS) truly believe that world’s central banks will become “climate rescuers of last resort”? Do we really want our central banks to be more proactive in pushing governments toward a greener economy by suggesting a carbon tax as “first-best solution“? The problem with central bankers is that every problem looks like a nail when they only have a hammer in the toolkit.

First, on what level do central banks have a clue about climate change? If they had even the foggiest notion about the science they would never have embarked on a set of reckless monetary policy measures that created the very conditions for excessive debt, mal-investment and over-consumption which they now seek to punish us for via the adoption of a carbon tax.

We should not forget the almost $300 trillion of global debt now racked up thanks to abnormally low interest rates. It is politically expedient to run budget deficits too because central banks are only too happy to keep (near) ZIRP or NIRP which makes servicing ballooning deficits appear almost perpetually affordable with short term focused politicians. It is but a figment of their imagination.

How easy it is to sound the alarm on climate change to mask the policy blunders of the last two decades. It would be nice if we could believe they possessed expertise in their mandated role before embarking into a field they have no sound base to work from. It is a dangerous distraction.

It is worth citing a few examples of the record of central banks around the world since GFC.

In 2018, the US Fed stopped reporting changes in the balance sheet. It did this to prevent spooking the markets over tapering. It reminds FNF Media of the day Bernanke’s Fed announced it would no longer report M3 money supply a year before the financial markets headed into the GFC. Why is there a need for a lack of transparency if it wishes to instill market confidence via its policy settings?

Has the Fed reflected on the fact that over half of listed corporates have a credit rating of BBB or below? Ford Motor Co’s credit rating was downgraded by Moody’s to junk. $84bn worth of debt now no longer investment grade. It will be the first of many Fortune 500s to fall foul to this reality. In 2008, there was around $800bn of BBB status credit. That number exceeds $3.186 trillion today. Brought to you courtesy of low interest rates.

The Bank of Japan (BoJ) is now responsible for 60% of all ETF market ownership. Latest reports confirm the Bank of Japan (BoJ) has now become a top 10 shareholder in almost 50% of listed stocks. In a sense, we have a trend which threatens to turn Japan’s largest businesses into quasi-state-owned enterprises (SoE) by the back door. The BoJ now owns $250bn of listed Japanese equities. It is the top shareholder in household Japanese brands such as Omron, Nidec and Fanuc. At current investment rates, the BoJ is set to own $400bn worth of the market by 2020-end.

The BoJ’s manipulation of the JGB market caused several of the major Japanese banks to hand back their trading licenses because they served no purpose anymore given the central bank’s manipulation.

The ECB has dropped the ball in Europe. Jonathan Rochford of Narrowroad Capital wrote,

Many European banks have failed to use the last decade to materially de-risk. The most obvious outworking of this is that European banks continue to receive taxpayer funded bailouts, with Germany’s NordLB and Italy’s Banca Popolare di Bari both receiving lifelines this monthOne final issue that lurks particularly amongst European banks is their gaming of capital ratios. European banks have become masters of finding assets that require little risk capital but can generate a decent margin. Government debt from Italy is one example, with pressure now being put on the ECB to allow for unlimited purchases of Greek government debt. This would substantially increase the already significant “doom loop” risk. This risk arises from the potential for a default on government debt to bankrupt the banks, and the converse situation where failing banks look for a taxpayer bailout and bankrupt the country.

The list goes on and on. Central banks are in no position to lecture the rest of us on anything given their command of their core competence remains so flawed.

Global money velocity has been declining for two decades. Every dollar printed creates an ever shrinking fraction of GDP impact. Yet all we did was double down on all the failed measures that led us into the GFC

What we do know is that the BIS has sought the advice of literature professors to come up with the phrase that climate change presented a “colossal and potentially irreversible risk of staggering complexity.”

Really?

It is easy for the BIS to shout that a “green swan” event could send us into the financial abyss. However the reality is that dreadful stewardship of monetary conditions has set us up for a huge fall. Not a bushfire, storm or flood. Perhaps we might view a green swan event as wishful thinking by central banks because it would allow them to absolve themselves of all responsibility in getting us into this mess in the first place. They want to see themselves as saviors, not culprits.

Rochford sums up central banks brilliantly with this comment,

When it comes to central banks, I would prefer to believe it is a combination of groupthink, an unwillingness to take career risk by speaking the truth and a willingness to either ignore or disregard counter evidence that has resulted in the detrimental decisions since the financial crisis. However, the increasing amount of evidence, often produced by central banks themselves, points to central banks being more culpable than gullible.

So given this condition why on earth are we paying any attention to their prescriptions on saving the planet? When they quit the excuses and fess up that the last two decades of monetary policy has failed to fix the excesses built in the system then we might lend an ear. Until then they join the list of government agencies who don’t want to be caught out not being in line with the settled politics. Truly sick.

Surely there must be some mistake?!

Has the World Economic Forum (WEF) taken leave of its senses? Not even we think President Trump is a “world-class speaker” despite his capacity to draw huge crowds and make us all sit up and listen. There is a touch of irony to see Trump included by the WEF in this category. Poor old Al Gore will speak but presumably dud predictions has put him on the B-list.

A brief study of the upcoming live sessions published by the WEF reveals it isn’t hard to work out what an utter waste of aviation fuel the summit will be. Woke causes feature broadly. See the following list of live streams available;

The 26th Annual Crystal Award Ceremony

Join us in honouring exceptional Cultural Leaders who are improving the state of the world through their outstanding contributions to inclusive and sustainable change.

Redesigning Democracy in the Digital Age

From data dignity to quadratic voting, join economist and best-selling author Glen Weyl for an exploration of radical solutions to societal decision-making in the wake of unprecedented technological change.

The Fight for Artistic Freedom

Join Wanuri Kahiu on her journey from filmmaker to unintentional leader for freedom of expression in Kenya after her film.

On Music and the Human Spirit

On the 250th anniversary of Beethoven’s birth, conductor Marin Alsop shares lessons on how music can help cultivate joy in the darkest of times.

The Reality of Racial Bias

From politics to the public sector and from housing to education, racial bias perpetuates a crushing structural disadvantage for people around the globe. Join Phillip Atiba Goff as he illustrates how data and evidence-based approaches can be used to turn racial bias into a solvable problem.

The Role of Faith for a Cohesive and Sustainable World

Eighty-four per cent of the global population identifies with a religious group. With eroding social cohesion and near climate breakdown, how can the power of faith foster a cohesive and sustainable world?

Musical Moments: Yo-Yo Ma plays Bach’s Cello Suite No. 1

Cellist Yo-Yo Ma, 2008 Crystal Awardee and a member of the World Economic Forum’s Board of Trustees, performs Bach’s Suite for Solo Cello No. 1 to inspire a conversation about how culture helps us to seek truth, build trust and act in service of one another.

Free to Be (LGBTI)

Fifty years after the Stonewall riots in New York and the birth of the gay liberation movement, LGBTI youth still face rejection and discrimination, resulting in high mental illness and suicide rates among LGBTI youth. How can schools and families contribute to safe and inclusive environments for all?

Seeing the Other

Join photojournalist Rena Effendi to learn about her mission to give a voice to the voiceless through her collection of portraits and places celebrating the strength of the human spirit. Rena Effendi is a Fellow of the New Narratives Lab, a mentorship programme dedicated to fostering a new and diverse generation of cultural leaders.

An Insight, An Idea with Jin Xing

A conversation with choreographer and 2020 Crystal Awardee Jin Xing on her journey from male army colonel to one of China’s most influential female TV personalities.

The Power of Youth

From the 2018 March for Our Lives fighting for gun control in the US to the Global Climate Strike in 2019, young people are mobilizing and increasingly influencing today’s most pressing political and environmental issues. How can these movements transform their will for change into action?

The Beauty of Inclusion

Join Thando Hopa, the first woman with albinism to appear on the cover of Vogue, on her journey to unearth the missing stories needed to achieve equality for all persons. Thando Hopa is a Fellow of the New Narratives Lab, a mentorship programme dedicated to fostering a new and diverse generation of Cultural Leaders.

A Conversation with will.i.am

Join a conversation with musician will.i.am and young activist Naomi Wadler on the fight to end gun violence, and how they are influencing policy change and inspiring the next generation.

Augmented Voices

Join vocalist and researcher Harry Yeff, also known as Reeps100, who reveals our true range of communication and the hidden potential of the human voice.

How to Turn Protest into Progress

Anti-government protests fuelled by anger about inequality, corruption and political repression are paralysing cities and nations. How can movements transition from protest to political change more effectively? This session was developed in partnership with Tortoise Media.

Power of Narratives

Powerful narratives, consisting of shared causal and principled beliefs, are the prerequisite for human collaboration, yet also lead nations to war and move markets. How might societies co-create powerful narratives for a cohesive and sustainable world?

Being Out and Equal

While openness about being LGBTI at work increases well-being and productivity, more than half of the community avoids being open about their sexual orientation and gender identity in professional settings for fear of negative consequences. What are best practices to create open and inclusive workplaces for all? Access the Platform for Shaping the Future of the New Economy and Society on TopLink.

Although we shouldn’t be too critical of WEF. Economics does find its way into the subject matter.

Behind close doors, we note that Greta Thunberg will speak on a panel discussing “Averting a Climate Apocalypse“, Al Gore will speak on “What’s at stake: The Arctic” and Christina Figueres will speak on “Swapping subsidies for Green Incentives.” Precious little open-mindedness to be expected in those sessions.

Other topics will include the following;

After Brexit: Renewing Europe’s Growth

As the European Central Bank maintains interest rates at record lows, the economic forecast for the region remains weaker than desired. What will a new Commission and the eventual withdrawal of the United Kingdom mean for the European economy?

Shaping the Global Growth Agenda

In 2019, global debt levels soared to a record $250 trillion, alongside a “race to the bottom” for interest rates. What level of debt, inflation and interest rates are healthy for economies to grow?

Stakeholder Capitalism: Creating Common Standards for Social Excellence

From supply chain labour standards to operating in conflict-affected regions, navigating the social responsibilities of a company is a complex endeavour. What difficult decisions are chief executives facing in the pivot towards a broader social purpose?

In the face of all the dire predictions of climate doom to be reported by the media, we can be rest assured the assembled globalists will be telling our government officials that we minions stand the best chance of survival – economic, environmental and otherwise – if we submit to their superior intelligence.

50 years of Davoz. The Global Shapers will be the rope the Multistakeholders use to hang the rest of us with

Davos is upon us. That event where the world’s elite congregate via private jet and helicopter transport to tell the rest of us to reconsider our use of a second hand SUV to take the kids to soccer practice for the sake of the planet.

This event marks 50 years. What started as a good idea is now nothing more than a networking event for crony capitalists looking to exploit gutless governments into backing their schemes and ridiculing those that don’t sign up for multi-million dollar memberships.

We should applaud the World Economic Forum (WEF) for helping perpetuate the culture of systemically brainwashing our youth.

In the 2020 Global Risks report, we get the following table which highlights adults (‘Multistakeholders’) and the youth (‘Global Shapers’). Who knew that environmental issues took the Top 5 positions among the kids? Privacy be damned. Adults were more concerned with politics and trade wars. Hint hint President Trump.

The long term outlook produced even more drama. The adults seem to have appeased the kids on climate but their private jet powered life styles at the very least mention global governance failure and the risk of asset bubbles popping.

The youth on the other hand ramped up the global warming rhetoric to 11. The Top 6 concerns are climate and #8 turns out to be about climate refugees. That’s the result of a Marxist education, one that NZ is only too proud to boast about. Forget rational debate to engage kids on how to see two sides of an argument. They will be admonished for speaking out against the orthodoxy. Or doxxed on social media. Or both. Is it any wonder we have a mental health crisis?

Although it is worth mentioning that the deteriorating global economic fundamentals highlighted in the same report risk handing the kids their ideal utopia by way of a deep recession thanks to excessive global debt levels and low interest rates. It is unlikely these self-entitled ‘Global Shapers’ have ever contemplated, much less lived through such an outcome with all of their earth ending hysteria. Best tell them that if they pursue their dream of 100% renewables and zero carbon emissions they can bask in the shared misery of having let their teachers blindly mislead them by never challenging them on anything. Experience is a hard teacher. They’ll get the test first and the lesson afterwards. But such reality will be too late and take decades to fix.

Perhaps these ‘Global Shapers’ would do well to study the reasons why inequality and social upheaval will continue to grow if the world pursues the barking mad drive to decarbonise the world. The report even makes a point to talk of the disruption in France by the yellow vests. It noted,

In France, for example, the persistence of the “gilets jaunes” movement had caused businesses more than US$11.4 billion in losses by December 2019 and complicated the government’s plans for economic revival.

The yellow vests are protesting over regulation and climate related taxes.

Under the chapter of ’10 years left’, we got the following passage which is full of untruths as to beggar belief.

Governments, markets and, in an increasing number of societies, voters are awakening to the urgent realities of climate change—it is striking harder and more rapidly than many expected. The last five years are on track to be the warmest on record. Climate-related natural disasters such as hurricanes, droughts and wildfires are becoming more intense and more frequent, reportedly now averaging a disaster a week. Polar ice is melting more quickly than anticipated, with drastic implications for sea levels and coastal populations. Severe weather is worsening: the last year witnessed unprecedented wildfires and devasting storms across the globe, sea ice loss in the Arctic and record-breaking heatwaves in Europe.”

Yet how was it that Queenslanders voted to keep the incumbent government in power because of its support for a coal mine? Why is China committing to 300-500 new coal-fired power plants?

How is it that the UN has reported categorically that it has ‘low confidence’ on any shift in the behaviour of natural disasters? In the UNIPCC’s March 2018 report on weather extremes with respect to anthropogenic induced global warming) it says,

“…There is low confidence in observed trends in small-scale phenomena such as tornadoes and hail because of data inhomogeneities and inadequacies in monitoring systemsin some regions droughts have become less frequent, less intense, or shorter, for example, in central North America and northwestern Australia. There is limited to medium evidence available to assess climate-driven observed changes in the magnitude and frequency of floodslow confidence for the attribution of any detectable changes in tropical cyclone activity to anthropogenic influences..low confidence in projections of changes in extreme winds.. low confidence in projections of changes in monsoonslow confidence in wave height projections…overall low confidence because of inconsistent projections of drought changes…low confidencein projected future changes in dust storms…low confidence in projections of an anthropogenic effect on phenomena such as shallow landslides.”

Where is the evidence of 10s of millions of climate refugees fleeing rising sea levels an coastal populations?

Virginie K. E. Duvat of the Institut du Littoral et de l’Environnement, University of la Rochelle-CNRS, La Rochelle sponsored by the French National Research Agency; French Ministry of Environment, Energy and Oceans (MEEM) wrote.

Analysis “using tide gauges and satellites showed 30 Pacific and Indian Ocean atolls including 709 islands, revealed that no atoll lost land area and that 88.6% of islands were either stable or increased in area, while only 11.4% contracted.

This confirms a 2010 study by Webb & Kench which revealed,

that 86% of islands remained stable (43%) or increased in area (43%) over the timeframe of analysis. Largest decadal rates of increase in island area range between 0.1 to 5.6 ha. Only 14% of study islands exhibited a net reduction in island area. Despite small net changes in area, islands exhibited larger gross changes.

There is even reference to properties sold in Florida and the risk they become uninsurable. Then why is the Florida house price index at record highs?

What about record breaking cold waves in Europe and Canada? Unprecedented wildfires and storms? Not according to the data.

Unprecedented media sensationalism more like it.

One comment made in the report was the fact that 14x more women die than men during natural disasters. Is this proof there are only two biological genders or are the studies on non-binary deaths during disasters incomplete? This may have to be a separate break out session.

The report also issues this stark warning.

Aside from a number of vanguard first-mover champions, most companies, too, appear ill-equipped to address climate risk.

Ill-equipped or paying lip service?

Take Josh Bayliss, CEO of Virgin Group. He said,

“It’s definitely true that right now every one of us should think hard about whether or not we need to take a flight.”

Why doesn’t he close down the airlines in the portfolio? Instead of waiting for his customers to grow a conscience and do the right thing why not force their choice? The obvious answer is that it’s hypocritical.

Yet even our own ASIC feels the need to force the minds of corporates to deal with climate change. Forget the data that shows reporting on the subject has collapsed since 2011 from an already low level because the free market mechanism reveals that pricing to offset such fears simply don’t exist in any meaningful way. The regulator’s wish to enforce reporting only proves it needs to construct a narrative to ward off a problem that doesn’t rate much of mention other than virtue signaling.

Perhaps this urgency to get regulators to pressure corporate leaders showed up with this snippet in the WEF report,

In the World Economic Forum’s survey of business leaders, none of the top 10 risks globally are environmental, suggesting a critical blind spot…industry partners of the World Economic Forum ranked environmental risks higher than business leaders surveyed more broadly…Overall, lack of consistent awareness-raising among business leaders may create first-mover advantages for some, but it also potentially demonstrates the much more concerning overarching risk: that many businesses may not be planning for the physical and financial risks that climate change may have on their activities and across their value chains.

So in plain English that says that the majority of corporates that don’t pay into the WEF’s Davos slush fund are evil and if we can get the governments of the world to force change, its members will be the first beneficiaries of any new climate legislation.

Yes, Global Shapers are merely the rope that the Multistakeholders will use to lynch the rest of us with.

Is this why impeachment took so long to send to the Senate?

Nancy Pelosi was waiting on those customized pens to arrive from China.

Nearly 50% very concerned. More than 50% not very concerned

Surveys. Surveys. If you ask enough of the right people, you can get an answer to anything. The Australia Institute (TAI) claimed that almost 50% of Aussies are very concerned about climate change. Everything is relative. Or to put it another way, more than 50% aren’t very concerned.

It is worth going back and reminding ourselves of a previous TAI report on climate change published recently and promoted by my local member.

TAI has proposed the idea of a $1/ton carbon tax on fossil fuel companies to put into an independently administered climate disaster fund.

As ever with left-wing think tanks, taxation is the only viable cure to all ills.

On page 37 of the TAI report, it didn’t miss the chance to write a few lines about our poor Pacific neighbours at risk of being inundated by rising sea levels despite a study showing 88.6% of Pacific islands and atolls being stable or growing in size. Who needs evidence when we want a narrative?

Don’t forget one important takeaway. TAI was named as one of the four supposed “experts” prepared to put its name in a Climate Change Performance Index (CCPI) report which scored Australia dead last on international and domestic climate policy. Remember this was the mob that handed Australia a 0.0 (zero point zero) score.

Only foaming at the mouth alarmists could derive such a ridiculous total and only a research body with little interest in objectivity would allow it to be included. If you are hunting for credibility, you won’t find it in the CCPI report.

Therefore if this is the standard at the TAI to hand out zero scores, why should we pay the slightest attention to it in terms of policy proposals to mitigate disasters?

The range of claims made in the TAI report speaks to little more than agenda based data gathering with leading questions.

For instance, if Labor was destroyed in the federal election over Adani, how could 73% of Queenslanders possibly want Australia’s coal-fired power stations phased out as soon as possible or gradually? Did the pollsters mistakenly manage to interview Bob Brown’s anti-Adani convoy which skewed the findings?

Energy source rank went Wind (76%), Solar (58%) & Hydro (39%) although nuclear power ranked above coal and gas. Surprise, surprise.  (p.11).

Apparently, 64% of Aussies want to be net-zero emissions by 2050. To do that we’d need to stop all mining, end farming and phase out all fossil-fuel power from transport to power generation. Just think of the UK’s plan to do this. Going to be a bit hard when 85% of British households rely on gas to heat their homes. Will the power grid hold up to a switch to electric heating?

On p.25, TAI makes reference to the Icelandic glacier, Ok, that lost its status 5 years ago. According to the UN Chronicle, “The sudden surging of glaciers is not related to climatic fluctuations, and surges can take place even at times when glaciers retreat. This is the usual behaviour of some glaciers and can not be evidence of an impending surge… unfortunately, direct observations of a change in the movement of a glacier at the onset of a surge are still very rare, and the causes for surges are not yet clear…It should be emphasized that the problem of climate change is extremely difficult to understand, and it has still not been possible to know what factors in the past decades — natural or anthropogenic — have caused the warming. There are still many uncertainties in solving this problem. IPCC estimates are rather wide in their range of accuracy and, therefore, cannot predict with confidence…at least not in the coming decades and centuries.”

So thanks TAI. Your recommendations are not needed.

The brainwashing of kiwi kids


You can’t make this stuff up. Jacinda Ardern’s government will be introducing climate change into the 11-15yo curriculum in order to lock in the brainwashing early. A perfect reason not to ever have Jacinda as our PM. The Guardian noted,

Every school in New Zealand will this year have access to materials about the climate crisis written by the country’s leading science agencies – including tools for students to plan their own activism, and to process their feelings of “eco-anxiety” over global heating.

The curriculum will put New Zealand at the forefront of climate change education worldwide; governments in neighbouring Australia and the United Kingdom have both faced criticism for lack of cohesive teaching on the climate crisis. The New Zealand scheme, which will be offered to all schools that teach 11 to 15 year-old students, will not be compulsory, the government said.”

One imagines those students that don’t attend such classes will be made to feel isolated. Don’t bother to teach the kids to think critically and evaluate both sides of the argument. Just push a narrative and force kids to regurgitate this nonsense as they tap into their personal devices while plugged into a wall.

Maybe Jacinda Ardern could cut the Wellness Budget in half were she to tell kids that they will be ok rather than scare them witless into the nearest mental health service. Talk about creating a market for services based on misinformation. It is a disgrace and utterly irresponsible.

Bit by bit, the freedom of independent thought is being taken from us in front of our very eyes. The sad thing will be when economic reality smacks these kids who fell for the Kool-Aid. Their lives will be palpably worse buy all of the doomsaying they were spoon fed will never have eventuated. For people who can see through this, where is the pushback to accept this nonsense?