Comments for The Jackal's Codex

Comment on Is an ETS a hidden tax and other questions by thejackalscodex

thejackalscodex — Thu, 26 Nov 2009 10:43:45 +0000

That was a year later due to entirely different reasons. (I emphasised 2007-2008). Although the stock market started wobbling in August 2007ish, but real economic growth did not really decline until late 2008. And by then noone blamed oil prices, everyone was blaming the collapse of the financial system itself.

There were a few oil spikes between 1970 and 2009 that weren’t followed by recessions as well.

Comment on Is an ETS a hidden tax and other questions by Matt

Matt — Thu, 26 Nov 2009 10:34:02 +0000

“Food producers did not absorb any price increases because they hedged their oil prices using oil futures (for the financially illiterate, this is like a form of insurance that locks in an oil price of $X for the future, so you pay $X regardless of what the actual price is in the future). Other companies used clever pricing equations to reroute their transport routes to minimise petrol consumption. BP apparently did this and the petrol savings paid for the cost of implementing that system in the first place. Even more companies stored oil, and sold it at those higher prices (thus increasing the supply of oil again). All these innovations could be seen on a macro level. There was no inflation (unlike the 1970s) and, when prices went up, demand went down. ie we used less petrol, because we learned to adapt without slowing economic growth too much. In other words, the trading system for oil (the futures market) acted as a giant shock absorber when the supply of oil suddenly ran short.”

John, did you miss the whole ‘financial crisis’ thing? I hear it was pretty serious.

Comment on SMH useless yet again by Dan

Dan — Sat, 14 Nov 2009 09:33:49 +0000

I strongly recommend getting an Australian subscription next year. Despite its biases it does give better coverage imho. I read it in preference to the SMH now, which now only serves to meet my puzzle needs.

Comment on SMH useless again by thejackalscodex

thejackalscodex — Wed, 11 Nov 2009 23:39:11 +0000

Yeah, you’re right that it isn’t a shift but keeping protectionist policies. But it is somewhat more important than the other crap the SMH put in its top news section.

Comment on SMH useless again by Matt

Matt — Wed, 11 Nov 2009 22:59:03 +0000

John, the parallel importation decision can’t be considered a ’shift towards protectionism’ seeing as – it’s merely a decision to remain with currently held import standards, aaand – it’s currently the same policy as pretty much every other developed nation has on its book import/export rules.

Does this constitute (widespread) protectionism? Yes. Does it constitute a ’shift’, or is unilateral action to create (artificial) trade asymmetries the right way to deal with these problems? No, and probably not.

Comment on I forgot to mention by thejackalscodex

thejackalscodex — Wed, 04 Nov 2009 19:37:04 +0000

Oops.

Hayne J.

So forgettable, I forgot his name.

Comment on I forgot to mention by Dan

Dan — Wed, 04 Nov 2009 10:18:39 +0000

Hayden J? Do you mean Heydon or Hayne?

Comment on Sex Party candidate… formerly of AAR by thejackalscodex

thejackalscodex — Tue, 03 Nov 2009 23:17:10 +0000

Dan discovers his future path to Parliamentary glory!

Well, the Liberal Party is always talking about people from… diverse backgrounds… entering Parliament

Comment on Sex Party candidate… formerly of AAR by Dan

Dan — Tue, 03 Nov 2009 12:53:50 +0000

Her résumé is very impressive!

Comment on The newest player on the scene? by Dan

Dan — Fri, 30 Oct 2009 01:13:20 +0000

Have you had a look at their policy wishlist on their website? Most of it is actually quite sensible.

And the oldest profession in the world is money-lending =P