Tag Archives: Perverse Incentives

Germany begs Sweden for more coal as renewable energy plan falters

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“After 2011’s Fukushima disaster in Japan, Germany gave itself not much more than 10 years to close down all it nuclear power plants.  The country also has a roadmap to switch to renewable energy for 80% of its electricity needs by 2050. That may sound like a long time, but the clean energy installed base today only provides 23% of the European Nations power demand.  But the nuclear energy phase-out has meant that at the moment Germany is burning more coal now than it did 24 years ago.  And it’s desperate for more reports the FT, even begging the Swedes who are divesting from coal to do the opposite and expand their operations inside Germany.”

http://www.mining.com/german-begs-sweden-for-more-coal-90155/

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Teddy Roosevelt and the Road to Pearl Harbor [2009]

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“Historian James Bradley had a fascinating op-ed in yesterday’s New York Times tracing the origins of Japan’s attack on Pearl Harbor back to the foreign policy of President Theodore Roosevelt, who famously intervened in the Russo-Japanese War in 1905 and earned himself a Nobel Peace Prize for his efforts. Yet as Bradley notes, Roosevelt was secretly acting on Japan’s behalf, or as he wrote to his son, ‘not merely with her approval but with her expressed desire.’ Following that, Roosevelt actively encouraged Japan to emulate America’s recent imperial expansion, though the results would prove disastrous in the long-term.”

http://reason.com/blog/2009/12/07/teddy-roosevelt-and-the-road-t

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Now’s a Terrible Time to Own This Popular Investment

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“Steer clear of bonds when the yield on the 10-year Treasury note is under 2.5%… the average yield on investment-grade corporate bonds is just over 3%… and the average yield on junk bonds is just over 5%.  As Kathleen Gaffney, portfolio manager of the Eaton Vance Bond Fund, warns, credit markets today are ‘extremely overvalued.’  Although extreme valuations are poor market-timing indicators, they’re a big killer of long-term returns.  There are only two possible outcomes if you’re a bond investor.  Either you buy a bond and hold it to maturity. Or you buy a bond and sell it on to another investor before it reaches maturity.  And either way, investors are blindly taking big risks right now.”

http://bonnerandpartners.com/nows-terrible-time-popular-investment-bonds/

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Russia developing new nuclear weapons to counter US, NATO

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“Russia is developing an array of new nuclear and conventional weapons to counter recent moves by the US and NATO, President Vladimir Putin said Wednesday as the military successfully tested a new intercontinental ballistic missile launched from a nuclear submarine.  Putin accused the West of using the crisis in Ukraine to reinvigorate NATO, warning that Moscow will ponder a response to the alliance’s decision to create a rapid-reaction ‘spearhead’ force to protect Eastern Europe.  His comments came as Russia’s relations with the West have plunged to their lowest point since the Cold War due to Russia’s role in the crisis in Ukraine.”

http://nypost.com/2014/09/10/russia-developing-new-nuclear-weapons-to-counter-us-nato/

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Australia Stock Market Set to Shrink on Foreign Takeovers, Rocket Higher

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“Australia’s stock market is shrinking for the first time in eight years. For Credit Suisse Group AG, that’s a signal to buy.  Buybacks, acquisitions and delistings will outweigh equity issuance by as much as A$2 billion ($1.9 billion) this year, the first time that has happened since 2006, according to data compiled by Credit Suisse.  The shrinking A$1.5 trillion stock market is struggling to accommodate Australia’s A$1.6 trillion in pension savings, which are forecast to almost double by the end of this decade.  Credit Suisse says the falling share count will boost the benchmark index to 6,000 points by year end as demand outweighs supply. That’s about 8.2 percent higher than yesterday’s close.”

http://www.bloomberg.com/news/2014-07-22/australia-stock-market-set-to-shrink-on-foreign-takeovers.html

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School districts drop federal lunch program after kids won’t eat

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“The Campbell County district is opting out of the federal school lunch program, forfeiting hundreds of thousands of dollars in federal funding.  The reason: Kids didn’t like their healthful lunches.  The 2,800-student district joins a small but growing number of school districts across the country – mostly wealthy districts who can afford to forfeit the money – who have dropped out of the federal program in the wake of stricter nutritional standards.  Schools said students don’t like the unsalted potatoes, low-fat cheese or the mandatory fruits and vegetables. They throw food away or decide not to eat at all.  If kids don’t buy lunch, the district loses money and has to dig into its general fund.”

http://www.cincinnati.com/story/news/education/2014/08/09/district-drops-federal-lunch-program/13847169/

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Ferguson Protests Spotlight a Much Bigger Problem

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“The police force of Bloomington, Georgia, also took advantage of federal subsidies recently when it purchased four grenade launchers, which might be overkill for a town of less than 3,000 people.  As if supplying local police units with heavy firepower wasn’t concerning enough, the federal government does not instruct police departments on how to use their new toys. Additionally, the Department of Defense Excess Property Program, commonly known as the 1033 Program, requires police departments to surrender any equipment not put to use within a year, which explains why police would show up to a protest decked out in camouflage and armed to the teeth.”

http://www.hardassetsalliance.com/investing-news/newsletter/gold-no-longer-a-safe-haven-asset#a3

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Japanese Women With Chainsaws Head to the Hills Under Abe’s Plan

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“A new wave of women are taking forestry jobs, the result of economic, social and environmental policies sprouting in Prime Minister Shinzo Abe’s Japan.  Cedars and cypresses are used to build local homes under the government’s program to encourage the use of domestic wood.  Abe came into office with his three-arrow strategy to end 15 years of deflation that stunted the economy. Nineteen months along, the first two points — monetary and fiscal stimulus — have succeeded in stoking inflation.  Ryosuke Aoki, the 37-year-old president and founder of Tokyo Chainsaws, said 80 percent of the company’s revenue comes from conservation work subsidized by national and local funds.” 

http://www.bloomberg.com/news/2014-08-06/women-harvesting-trees-meet-two-planks-of-abe-japan-plan.html

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For U.S. investors sour on Apple, buying Samsung is tricky [2013]

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“Samsung, with a market cap of $236 billion, is not listed as an American Depositary Receipt (ADR) on major U.S. markets like other foreign companies such as Toyota Motor Corp and Sony Corp. Instead, an unofficial version of Samsung trades under the ticker on OTC Markets Group, colloquially referred to as the Pink Sheets.  The rise in unsponsored ADRs came after a SEC rule change in 2008 that allowed depository banks such as BNY Mellon and JP Morgan Chase to launch ADRs based on market demand without the consent of a company.  Listing fees and SEC filing requirements have prompted other major companies to bypass sponsored ADRS as well.”

http://uk.reuters.com/article/2013/01/24/uk-samsung-shares-idUKBRE90N17D20130124

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Singapore’s central bank lost $10.2 billion fighting Bernanke [2013]

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“Four men control over 70% of the world’s money supply, giving them control over the price of… everything.  And this system is so absurd that, healthy nations like Singapore are forced to lose billions in order to keep playing the game.  That’s exactly what it is– a game. Like most nations, Singapore has been playing this game for decades while the US changes the rules whenever it sees fit.  And it’s becoming obvious that the cost of playing is now far exceeding the benefit it receives. The hard numbers are very clear on this point.  This spells one inexorable conclusion, game over: a dramatic decline in the US dollar’s role as the global reserve currency in the next few years.”

http://www.sovereignman.com/trends/singapores-central-bank-lost-87-of-gdp-growth-fighting-bernanke-12665/

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