Goldman Sachs rules the world. Where did Malcolm Turnbull work again?

Notes: he says it's not just the elite who can make money; the crisis is like a cancer, etc.

China Fiddles Whilst Australia Burns...

Hi,

China is launching six trial ETS schemes including a trial national
carbon trading scheme, with no financial changes prior other than
widening the tariff difference between coal fired electricity and
renewables.

http://www.businessgreen.com/bg/news/2094638/report-china-launch-
carbon-trading-trial

Not even a glimmer of a mention that China is going to do the
Gillard / Brown style tax and spend masquerading as a carbon tax-
as if China (or anyone) would.

The planned ETS schemes in China are national, ie internal trades,
allowing importation of overseas credits under strict guidelines.

In other words China will be up and running with what Australia is
going to adopt years from now if at all, as of next year. Our lack
of an ETS makes our own trade with China in carbon credits totally
one way.

China is also taking a Coalition style approach in that these pilot
programmes are able to be shut down easily if they fail, and are
supportive of what we would call "Direct Action" projects as well
as "traditional" carbon credit projects.

The China plans should also be seen in the context of the credits
for coal burning ACM0013 scandal, in that the coal credit projects,
of which China has 116 planned, will inject large amounts of carbon
credits into the Chinese national market just in time to flog them
to Australia. Hardly a coincidence.

Added to the fact that the coal credits are inflated in number due
to creative carbon accounting it looks like Chinese business is
gearing up to give Australia one hell of a shave on carbon credits.

So why are we letting them? And why is an overtly socialist state
like China able to school a supposedly overtly capitalist country
like Australia?

Answer: bad governance in Australia.