17 September 2015, The Conversation, Free trade agreements fail to boost Australian agriculture and food manufacturing. Many claims are made that Free Trade Agreements (FTAs) with select trading partners will benefit Australian agriculture. OECD statistics say otherwise. The balance of trade positions of Australian agriculture and food manufacturing have deteriorated since FTAs with New Zealand, the United States and Thailand have come into play. The long-standing 1983 New Zealand arrangement shows growing imports of processed food products, especially since 2000. Australian food exports to New Zealand have levelled off since 2011 with a US$600 million Australian deficit on food products in 2014. Agricultural goods have been close to balance with just over US$270 million of raw or minimally processed product flowing each way. The net result (shown in black) has been a persistent and generally worsening deficit for Australia in its agriculture and food trade with New Zealand for the whole period. Read More here
Category Archives: Downsizing Plan B
16 September 2015, The Daly News, What is Wrong with a Zero Interest Rate? The stock market took a dip, so the Fed will likely continue to keep the interest rate at zero, in conformity with its goal of supporting asset prices by quantitative easing. What is wrong with a zero interest rate? Doesn’t it boost investment, growth, and employment? There are many things wrong with a zero interest rate. Remember that the interest rate is a price paid to savers by borrowing investors. At a zero price, savers will save less and receive less return on past savings. Savers and pensioners are penalized. At a near zero price for borrowed funds, investors are being subsidized and will invest in just about anything, leading to many poor investments and negative returns, furthering the economy’s already advanced transition from economic to uneconomic growth. Zero interest promotes an infinite demand for savings with zero new supply. But the “supply” is provided artificially by the Fed printing money. Read More here
1 September 2015, The Conversation, Seabirds are eating plastic litter in our oceans – but not only where you’d expect. Many of you may have already seen the photograph above, of an albatross carcass full of undigested plastic junk. But how representative is that of the wider issue facing seabirds? To help answer that question, we carried out the first worldwide analysis of the threat posed by plastic pollution to seabird species worldwide. Our study, published today in Proceedings of the National Academy of Sciences, found that nearly 60% of all seabird species studied so far have had plastic in their gut. This figure is based on reviewing previous reports in the scientific literature, but if we use a statistical model to infer what would be found at the current time and include unstudied species, we expect that more than 90% of seabirds have eaten plastic rubbish. Rising tide of plastic. Our analysis of published studies shows that the amount of plastic in seabird’s stomachs has been climbing over the past half-century. In 1960, plastic was found in the stomachs of less than 5% of seabirds, but by 2010 this had risen to 80%. We predict that by 2050, 99% of the world’s seabird species will be accidentally eating plastic, unless we take action to clean up the oceans. Read More here
30 August 2015, Science Daily, Discarded electronics mismanaged within Europe equals about 10 times the volume of e-waste exported. Mismanagement of discarded electronics within Europe involves a volume 10 times that of e-waste shipped to foreign shores in undocumented exports, according to a comprehensive 2-year investigation into the functioning of the used and waste electronics market. The European Union-funded project, Countering WEEE (waste electrical and electronic equipment) Illegal Trade (CWIT), was undertaken by INTERPOL, United Nations University (UNU), United Nations Interregional Crime and Justice Research Institute, the WEEE Forum, the Cross Border Research Association, Zanasi & Partners and Compliance and Risks. The project found that in Europe just 35% (3.3 million tonnes of 9.5 million tonnes) of used (but still functioning) and waste electronics and electrical equipment discarded by companies and consumers in 2012 wound up in official collection and recycling systems. The other discarded electronics — 6.2 million tonnes in all — was either exported, recycled under non-compliant conditions or simply thrown in waste bins. The study estimates 1.3 million tonnes of discarded electronics departed the EU in undocumented mixed exports, of which an estimated 30% (about 400,000 tonnes) was electronic waste; and 70% functioning equipment. Read More here