Economy

Sir Elton is on to something big here folks

Sir Elton is on to something. He vigorously defended the use of his private jet by Prince Harry and Meghan by saying he’d offset the emissions via Carbon Footprint (CF) so the flights were carbon neutral.

CM decided to input the figures of what a return trip to Ibiza followed by a return trip to Nice would cost the lovely couple to offset their evil ways using CF’s calculator. Turns out there is no “private jet” setting on the CF website leaving CM to use first class as a default.

The return trip from the UK to Ibiza would only require £2.00 each. The UK-Nice run would also run £2.00 return. So for the grand total of £8.00, their carbon emissions could technically be paid for on CF. CM notes that if the flights were combined then the cost drops to £3.71 each, a saving of 58p!

To splurge, Sir Elton could select the ‘UK tree plant’ for £12.90 (incl 20% VAT) each for a grand total of £51.60. Kenyan reforestation options are £9.50.

We don’t know how much Sir Elton paid for his offsets. One would hope his billions did a bit more than £8.00 or worse, £7.42 on a package offset.

Perhaps the $100s of billions of tax dollars spent (wasted) on renewables every year could be abolished and easily replaced by the generosity of pop stars paying to plant trees in Kenya! Who knew?

TeePee vs Toupee?

More and more it looks as though Elizabeth Warren will become the Democratic nominee for the 2020 election.

As you can see she has taken over Biden on a national and Iowa level according to this Predict It poll. Poor old Bernie Sanders is floundering.

Trump’s #1 job is to keep the home economy and financial markets from tanking. It’s still a tough assignment from here. The sooner the Dems have one face for the campaign the less embarrassment to be caused by Beto O’Rourke, Kamala Harris or Joaquin Castro.

Warren’s platform is essentially based on free everything. Sadly she doesn’t have the speaking qualities of Hillary Clinton. She is more genuine but always seems to be wooden.

The debates will undoubtedly focus on things personal rather than what truly matters. Reality TV at its finest, no doubt.

If Warren wins 2020, China will use the pretext of a softy in the White House to get busy doing what they please.

A tip against the Pacific gratuity

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If we are to be realistic,  $500m doesn’t buy us a thing in the Pacific Islands. No political influence. No loyalty. No defence against China. Apart from the fact that Australia’s emissions add up to 0.0000134% of global CO2, our ability to prevent sea levels rising (which aren’t happening anyway – refer CM report here) is absolutely zero. If Australia offered the islands a fraction of the $9.5bn we spend on renewables annually in return for all the coal-fired power we wanted, these islands would be silly to refuse the deal. Most likely they wouldn’t.

In September 2018, Australia was beaten over the head for not helping the Pacific Islands cope with the dangers of climate change. What better way for PNG to have averted the climate emergency by using part of the $150mn in aid money from Australia to buy 40 gas-guzzling Maserati sports limousines from Italy?

Actions not words. The $500m reminds CM of those investment banks that only partially invested in their franchises. They all failed. If there is no strategy, best not spending a cent. $500m is pointless and that won’t be lost on the Pacific Island governments. If PM Morrison wants to buy influence, he needs to think beyond this measly gratuity.

What have these Island nations said to China? China makes up 45% of global coal power gen capacity. Australia 1.6%. China has another 100+ currently under construction and another 76 yet to break ground. So why haven’t they raised hell in Beijing? Because Australia fold to this ridiculous pandering.

Why the left is better at spurring economic activity

You have to hand it to the Democrats. They are truly useful in boosting economic activity. Democratic Party presidential candidate Joaquin Castro thought shaming San Antonio, Texas donors to the Trump campaign might help his cause. One person he made reference to was the owner of Bill Miller Bar BQ. Thankfully San Antonians responded in style. The restaurant has been going gangbusters since. Tailbacks for the drive-thru and lines out the door. A bit like the time the left singled out In-N-Out Burger and Chick-fil-A.

Note that In-N-Out Burger sales surged 11.8% on 1.8% increase in stores. Meaning same-store growth must have been astonishing in F&B terms. Chick-fil-A as we know is the fastest growing fast food outlet in America and #3, behind McDonalds & Starbucks.

Maybe Castro can tell Americans in future debates that he is good for business growth. He has absolute proof of that.

You’ll never guess how we can Save the Planet

Here is a credit card business model bound to fail. Johan Pihl, one of the founders of Doconomy, is launching a new credit card in collaboration with the UN Climate Change Secretariat and Mastercard. It cuts your ability to spend when you’ve hit your “carbon” limit, not your financial one. Now we will be able to stop our rampant plastic use with, you guessed it, plastic!  Although Doconomy claims the card will be made from bio-sourced material. Sadly the silicon chip will require high energy intensity to make. At least air pollution is good for something as it will be the main source of the ink.

Pihl said, “we realized that putting a limit that blocks your ability to complete the transaction is radical…but it’s the clearest way to illustrate the severity of the situation we’re in...Imagine if the consumer would pick up our app and actually look at their footprint and that’s the basis for whether they buy something or not,”

Perhaps we should ask all UN staffers to use it as their business credit card. If Doconomy lived up to its promises, most would have their carbon limit triggered when paying for flights to the next COP summit halfway around the globe. That would be a plus!

It uses the Åland Index to identify the CO2 of every transaction. CM encourages everyone to have a play with the carbon calculator.

For instance, if one spends 100 euro in a supermarket, the carbon footprint is almost the same as spending 100 euro in a department store. So regardless of whether one buys 100 euro of fruit or 100 euro of plastic-packaged flash-fried instant noodles, the impact of 4,902g of CO2 footprint is the same. Buy a 100 euro bottle of perfume or 100 euro of cuff links at a department store, the impact is still 4,293g. What you probably didn’t know is that smoking has a lower carbon footprint than buying groceries on a euro for euro basis. If smokers ever wanted an excuse to repeal these oppressively high taxes on tobacco, surely we should be getting Extinction Rebellion to add it to the list of demands because of the lower carbon footprint that can be achieved.

Whatever you do, don’t buy your loved one flowers! 100 euros of flowers has a 4,696g impact. That 200 euro Valentine’s dinner will add 15,928g. However, will the app calculate the 200 euro bottle of wine to celebrate an anniversary at 2x the 100 euro bottle? Yes it will.

If you do online gambling, 100 euro will cost 38,066g. You guessed it, if you spent 1,000 euro (exactly the same transaction time and keystrokes) it will cost 380,660g. Just shows how woefully inaccurate these carbon calculators are. To save the planet, instead of fuelling a gambling addiction,  you can cut your impact on the social fabric of society and save 90% by filling your car (118,600g of CO2) with 100 euro of fuel and enjoy a spiritual country drive to avoid regular attendance at Gamblers Anonymous.

Hotels – same thing. 100 euro on a hotel has 1/4 the emissions of a 400 euro hotel. Presumably if one is a master of Trivago or Hotels Combined website one can cut the emissions on exactly the same hotel room by the level of the discount. Who knew being environmental was so simple?

Doconomy states,

With DO, you get actual refunds from connected DO stores, based on the carbon impact of your purchase. We call it DO credits…The refunds can be used to compensate for the carbon footprint of your purchase. You can direct it to UN-certified carbon offset projects, or invest in sustainable funds. If you choose to invest in a fund, you must add the same amount as the value of your DO credit. You choose.”

Damn. How much will one have to spend to get enough DO credits to make an impact on a sustainable investment fund?

What a joke. As soon as the UN is involved in any such project we can absolutely guarantee the outcome will be a farce.

PG slices another $8bn off Gillette in 4Q

P&G reported stronger earnings overnight but wrote off another $8bn in 4Q on top of the $6bn in 3Q on the Gillette brand in terms of goodwill and intangibles. Of course management brushed this off as significant devaluations over a decade, lower shaving frequency and new entrants at prices lower than the average. Nothing to do with the toxic masculinity campaign 6 months ago? Get real.

Under grooming, most of the results performance came through the sale of real estate in Boston. Other than that the company reported unfavorable channel mix, volume declines, brand communication investments and currency headwinds. The CFO Jon Moeller said with respect to Gillette,

You’ve got here a business with a very broad global footprint, and particularly with the year that we have just been through, that impacts that value assessment,”

Sorry, what does that even mean? No surprises that grooming was the worst performing division in P&G’s quiver.

Get woke, go broke.

The Democrats & MSM still don’t get it

Of course the Democrats have been wailing “racism” with respect to this tweet. What the Dems and the mainstream media keep forgetting is that all they do is give Trump free exposure. The intended message relating to his racism, bigotry, white supremacy etc etc is diluted. CM has said for the longest time that the best way to defeat Trump is to give him zero airplay over such nonsense. Sadly TDS prevents rational thought and encourages hysteria.