Double Dipper Dan


Social Justice Warrior and Victorian Premier Dan Andrews is in hot water after 21 of his Labor MPs have been embroiled in a “Rorts for Votes” scheme investigated by the Ombudsman which breached parliamentary guidelines. It found Labor misused almost $388,000 during the 2014 election campaign. Labor spent $1,000,000 of taxpayers dime over two years trying to stop the Ombudsman investigating them. While the money has reportedly been repayed, Andrews & Co are pleading honest mistakes with regards to probably the most basic and well understood laws of election campaigning. Were someone to rob a bank, invest the proceeds to make a big return then return the original funds, would the justice system turn a blind eye? Andrews would seem to think that there should be no consequences.

Dan Andrews is the first to point the finger at everyone else for morals and ethics. How quick he is to virtue signal on social media at his amazing feats for the state of Victoria which put the rest of the country to shame. To belt neighboring states inferior unemployment rates when his government has been creating New Deal type tax spending programmes to fund new jobs.

Here is a list of just five of the shocking lapses in ethics and morals his government can lay claim to:

1) Andrews handed over $500mn in taxpayer funds to contractors for the backflip on the East-West link. He said during the election campaign he would honour those contracts but said after becoming Premier that “Be very clear about this: there will be no compensation paid.” Then still burnt the funds.

2) He told Victorians that the closure of the Hazelwood coal fired power station would hit electricity bills by 85c/week for the sake of the environment. This turned out to be an average of $278/year because of the over reliance on wholesale electricity markets. Despite all of his hair brained renewables schemes, to make up for the shortfall of closing Hazelwood 100MW of dirty diesel generators were secured to offset any shortfalls in baseload. He also spoke of how many green jobs would be created. Facts show that green job creation has been on a long term downtrend

3) Was instrumental in forcing rural fire-fighting volunteers (those who do it from the heart) against their will to come under the control of the fireman’s union who helped him get elected.

4)  To indoctrinate diversity the Vic Police practiced segregation in police recruiting seminars as the blueprint to reach nirvana in terms of the type of open mindedness and multi-cultural society we should strive for. If they truly wanted to teach the virtues of diversity why don’t they just have a come one come all seminar which didn’t base it on gender, religious or sexual orientation. Victoria has more cops per capita than any other state yet home invasions, carjackings and other crime rates are soaring.

5) The Andrews’s government wants to allow girls as young as 11 to get access to the contraceptive pill without consent from the parents. Most parents worry about their kids. What they eat and what they put in their bodies. Some kids may only want it to reduce pain during their menstrual cycle but to have a government provide a service which deliberately allows kids to bypass parental approval is downright wrong.

While Opposition Leader Matthew Guy has hardly helped his cause by having dinner with a member of the underworld in August 2017 in what was dubbed ‘Mobster-Lobster-gate’ this should hopefully wake up socialist Victoria to the crooked nature of the incumbents.

True colours of the left exposed when it comes to white Sth African farmers


There is something to be said of the left when it comes to compassion. For all of the sanctimony of how we must do our bit for social justice and fight to stop every -ism in the world, whites need not apply. It shouldn’t have escaped many that certain “white” South African farmers are fleeing persecution while their land is being confiscated. Murders, beatings of men and women, children having their faces given the “joker’s cut” with razor blades. It’s truly horrific. Yet some are prepared to cynically fire off “the poor whites…”

Yet because of their skin colour some on the left deem their “white privilege” should be checked first. It would seem in order to restore justice, white South African farmers should get a taste of their own medicine after the oppression of apartheid some 30+ years ago. Surely people in need are indeed just that – in need. Are all white farmers guilty of apartheid? Back of the line. Sacrifice your lives for the sake of equality.

Australia is often beaten over the head for its asylum seeker policies. That somehow asylum seekers kept in detention centres (where they demand Hyatt 5-star  services and amenities) awaiting processing on Manus Island got a raw deal as ‘fellow whites’ get a fast pass. What the media, like The Guardian often fail to do is report the balance. Immigration Minister Dutton fast tracked the visas of 700 Yazidi women who had escaped ISIS rape gangs. They aren’t white. They were in grave danger. Instead of congratulations it wasn’t reported.

On the flip side 12 Iranians had their visas revoked by Dutton’s office for lying in their applications. They had pleaded they were fleeing persecution in Iran yet the first thing they did on receipt of visas was to fly back to the very danger zone they had escaped for a holiday. Was that racist policy or one that is simply preventing visa fraud to ensure integrity in the immigration system?

Asylum seeker policy is a touchy subject. How Angela Merkel was praised for her social caring programme by granting a come one come all refugee policy, one which ended up being the mother of all misguided altruism. Instead of helping the truly needy, the EU tallied that 80% were economic migrants seeking better fortunes in the West. That’s right 80% weren’t fleeing war zones.

Since she started her benevolence, Merkel gagged the media, muzzled the police and silenced those that spoke out about the cover up of the deterioration in public safety, rapes and crime which even now Merkel admits has led to the creation of no go zones which never existed before. She’s now paying for refugees to leave with generous incentives. Yet where is the left’s media outrage? Why not just admit it was a dreadfully executed policy which cost her the worst election result for her party in 70 years and gave the anti-immigrant AfD the second largest following in Germany from nowhere?

Then the folly is extended to the EU which then tried to cover up for Merkel by enforcing migrant quotas like they were cattle. Asylum seekers were mostly making a B-line to Germany yet the EU in its infinite wisdom thought all members had a duty to take a share. If they truly spared a thought for asylum seekers, why would any wish to be allocated to countries like Hungary that held a referendum on the topic and got a 98.4% response against having them? Not a promising starting point.  Then we sit back and wonder why the Italians voted for anti-immigrant, eurosceptic parties? Or why the UK voted Brexit? Or why the Austrians also voted in a government that put a right wing anti-immigration party in charge of immigration? Or The Netherlands? Poland? Hungary? The list goes on.

Yet the media focuses on a drowning 3 year-old boy on a shoreline and tried to shame our collective lack of compassion. Still the media refused to focus on the billion dollar illegal people smuggling industry that lured so many who weren’t fleeing persecution to their deaths. That poor little Aylan Kurdi died, not  because he and his family were fleeing  to safety (they already had been for 3 years in Turkey) but that his life was put at risk without a life jacket in a flimsy vessel for the sake of his father’s own dental treatment.

Why not beat Gulf states over the head for not doing their bit? The Saudis can accommodate 3 million, chair the UN Human Rights Council yet refuse to step up and the media stays silent. Why not smash up Japan for letting in low double digit numbers of asylum seekers? Is it a coincidence that the 98% homogeneous society has such low crime rates, social harmony and safety record the envy of the world? It is not to say that foreigners commit most of the crime in Japan because they don’t (per head of population they do) but Japan is not prepared to throw its culture out the window to get with the times on doing its bit for humanity. Japan would prefer to throw billions in foreign aid to fix the problem at source.

The better narrative is to pick on the West. Shame our white privilege. Mock our colonialist past and tell South African farmers to go to hell.

Compassion for the truly needy should only depend on the danger faced. Skin colour, religion, sexual orientation or any other identity based criteria should be irrelevant. People who are desperately fleeing for their lives should fall over themselves to willingly respect the rules of their new house. They should be only too happy to repay the generosity of those that provide safety and strive to become model citizens. Many Vietnamese fleeing the ravages or the Vietnam War have paid back our support in spades.

Yet too often those who have not escaped persecution end up being the ones that expect society to bend to their culture not the other way around. Our authorities and judiciaries are becoming self annointed justice warriors often turning a blind eye to crime by meting out lenient sentences for armed robbery, rape, child grooming, assault and manslaughter with paltry community service orders. Take this example. Ibrahim Kamara, from Sierra Leone, received a suspended sentence of just over one year, with an 18-month good ­behaviour order, after admitting to five counts, including grooming and having sex with a minor. The ACT Supreme Court judge said “(Kamara) has tried to make a good start on his life in Australia”. Or last week a Sudanese woman, Ayou Deng, was given 80 hours community service for running over and killing a 13yo boy in a car she was driving unlicensed. What message is being sent to the people that we would hope want to integrate in the great Aussie way of life? Do what you please as the worst you’ll get is a slap on the wrist.

Then should we criticize Australia’s asylum seeker policy when we ask for the recipients of asylum visas to sign a code of conduct order which explicitly tells them that rape and sexual harassment of women and children is not accepted? Surely civilized society shouldn’t need to have to force new arrivals to sign a document for common decency but apparently they do. Clearly the immigration department saw it as a requirement supposedly to stem the tide of countless incidents before it was introduced. Then again Canada is trying to remove female genital mutilation from its new citizen’s code of conduct for fear it might offend. You can’t make this stuff up.

So to the left that wants to selectively administer asylum seeker policy based on prejudices. In the quest for diversity they should check their own hypocrisy before asking white South African farmers to check their privilege as they cry for genuine grounds for asylum. The true colours of the left are exposed for what they are. Institutionalized diversity folks is anything but. No one wins acceptance by denying their own identity,

Blood seems thicker than water


18 months ago CM wrote on Theranos (which was set to rule the blood analysis world) saying its biggest problem was gaining trust – not of the company itself but the switching costs for medical professionals to use it. It turns out it was really about a lack of trust, not with doctors but investors. Theranos swindled $700m over three years from investors yet the punishment will be that its founder Elizabeth Holmes pays a $500,000 fine, return 18.9m shares and face a ban from public companies for 10 years after the SEC charged her with “massive” securities fraud. Why no jail? Allen Stanford received 110 years for his $7bn Ponzi scheme. Fraud is fraud. Shouldn’t 1/10th the fraud lead to 1/10th the jail time?  Enron’s former CEO Jeff Skilling was fined $45mn with the $11bn failure of the company. Seems like not all fraud was created equal in the eyes of the law.

Fasten your seatbelts!


The “Fasten your seatbelts” edition (March 6, 2018) of the High-Tech Strategist by Fred Hickey is best read with antidepressants or a stiff drink. To be honest I hadn’t seen a copy of this research for at least 5 years. Today I’ve read it three times hoping I haven’t missed or misread anything. It is well reasoned and well argued. I would even admit to there being confirmation bias on my side but it is compelling. Usually confirmation bias is a worrying sign although prevailing sentiment or group think, it isn’t!

Perhaps the scariest claim in his report is a survey that showed 75% of asset managers have not experienced the tech bubble collapse in 2000. So their only reference point is one where central banks manipulated the outcome in 2007/8. S&P fell around 56% peak to trough. I often like to say that an optimist is a pessimist with experience. A lot of experienced punters have quit the industry post Lehman’s collapse, hollowing out a lot of talent. That is not to disparage many of the modern day punters but it does experience is a hard teacher because one gets the test first and the lesson afterwards.

Hickey cites an interview with Paul Tudor Jones who said that the new Fed Chairman Powell has a situation not unlike “General George Custer before the battle of the Little Bighorn” (aka Custer’s Last Stand). He spoke of $1.5 trillion in US Treasuries requiring refinancing this year. CM wrote that $8.4 trillion required refinancing in 4 years. In any event, with the Fed tapering (i.e. selling their bonds) couple with China and Japan feeling less willing to step up to the plate he conservatively sees 10yr rates hit 3.75% (now 2.8%) and 30 years rise above 4.5%. Now if we tally the $65 trillion public, private and corporate (worst average credit ratings in a decade) debt load in America and overlay that with a rising interest rate market things will get nasty. Not to mention the $9 trillion shortfall in public pensions.

Perhaps the best statistic was the surge in the number of articles which contained ‘buy-the-dip’ to an all time record. Such lexicon is often used to explain away bad news. It is almost as useless as saying there were more sellers than buyers to explain away a market sell off. In any event closing one’s eyes is a strategy.

Hickey runs through the steps leading up to and during the bear market that followed the tech bubble collapse. It was utter carnage. Bell wether blue chips like Cisco fell 88% from the peak. Oracle -83%. Intel -82%. Sun Microsystems fell 96%.

To cut a long story short, assets (bonds, equities and property) are overvalued. The Bitcoin bubble and consequent collapse have stark warnings that he saw in 2000. He recommends Gold, Gold stocks (which he claims are selling at deeper discounts than the bear market bottom) Silver, index and stock put options (Apple, Tesla, NVidia & Amazon) and cash. Can’t say CM’s portfolio is too dissimilar.

As Hickey says, “fasten your seatbelts

That’s the retirement sorted then


I guess the brilliance of these scams is that the people who don’t respond can be eliminated and those that do can get gouged for what pittances they probably possess. How could one not fall for the impeccable qualities of Mrs Grace Innocent?

Two of the worst possible combinations one can think of


From LivingOffset – “Global concern about climate change is growing rapidly. Five out of every 10 people now consider climate change to be a serious problem. In Chile and Peru the number is over 75%. Interestingly, 69% of Americans are concerned about global warming [if you believe HuffPost], despite their government’s position. There is no doubt demand for our offering is there, and like Airbnb, we can provide the means and the mechanism for easy participation. In just a few minutes ordinary people can start to make a real and meaningful difference.

In January 2017, IPSOS held a global poll asking what each country’s major problem was and climate change didn’t feature a mention.

As Europe and the US brave record snowfalls one couldn’t think of two more terrible combinations – a crypto-currency and a climate abatement cause. Apart from the fact that the prospectus cites Wikipedia to support its stats, it ignores the growing number of scientists admitting that climate change is little more than a multi trillion dollar rent seeking industry. As we’ve seen in recent years, many scientists and government bodies have been caught red handed with their hand in the till. Data has been manipulated to get a result. NOAA was subpoenaed by US Congress for fiddling the data ahead of the Paris Climate Accord. Australia’s Bureau of Meteorology has also been caught misrepresenting temperature records. The IPCC has made more climb downs from unchecked positions than one can count. It is the epitome of double standards given 50,000 pilgrims fly half way around the world to kneel at the altar of the COP climate change summits, belching so much of that dangerous CO2 we are warned about.

Even the language has changed – from global warming to climate change to climate disruption. All bases covered.

The one question that the alarmists can never answer – if the science is so settled, why do scientists feel so compelled to lie and corrupt data? Surely the data speaks for itself because it is so compelling on a stand alone basis. No need to brazenly commit data fraud. While many alarmists are happy to see evil banksters get hauled off to jail, have we seen any scientists face prison time for misleading the allocation of billions in taxpayer funds? Imagine if that was introduced? How quickly climate disruption would go away.

Apart from the completely bogus stats on ‘69% of Americans being concerned by global warming, SUV sales remain a solid staple in the US. In fact the most popular car in America is the Ford F-150 pick-up truck where customers rank ‘fuel economy’ #28 in terms of reasons they buy it. When Trump quit the Paris Accord, Rasmussen showed that most polled were for his move because sticking to teh deal just increased their cost burden. Wallets matter more than virtue signalling.

Let’s check reality of the climate game. 75% of the evil gas that helps plants grow are caused by 4 countries – America, China, India and Russia. Let’s tackle them one by one.

America. Well the commitment to the Accord was so flimsy to begin with, It was laced with out clauses such as being exempt from being sued for any environmental damage caused in the past or future. Obama decided to tick the box himself after lawyers breathed on the fine print – remember the US was the last to commit.

China. China, China, China. The commitment is so robust they don’t have any intention to get serious until 2030 (likely peak emissions). China has explicitly said it will raise the coal share of power to 15% by 2020 from 12% and this will keep climbing. China’s pollution problems have stuff all to do with global warming but public health however it can virtue signal under the banner of climate change mitigation and win brownie points.

India. The construction of 65 gigawatts worth of coal-burning generation is under way with an additional 178 gigawatts in the planning stages in India will mean they’ll not achieve Paris targets.

Russia’s commitment at Paris would have been more serious if drafted on a hotel napkin such was its lack of substance. 4 pages of nothing.

LivingOffset makes some grandiose claims of 128% returns by 2022 but put in its disclaimer,

There can be no assurance that LivingOffset’s investment objective will be achieved and investment results may vary substantially over time. Investment in LivingOffset is not intended to be a complete investment program for any investor. Prospective participants should carefully consider whether an investment is suitable for them in light of their circumstances and nancial resources.

Carbon offsets are a joke. In Australia, people can elect to have their electricity sourced from renewables only (by paying a premium) yet less than 3% choose to do so. Qantas offered carbon offsets when flying but the take up has been insignificant. Carbon offset calculators are so woefully inaccurate that the price paid to virtue signal can be drastically affected by load factors, aircraft type, head/tailwinds and delays to land.

In any event there are 190 odd currencies in the world and over 1,000 crypto currencies. Apart from the unregulated nature of these electronic coins, we’ve already seen how vulnerable ‘blockchain technology’ is and how easy it is to be hacked. Crypto is backed by greed. Recently a person was emptied of all their crypto at phone point. Once the transaction has been completed the ‘money’ is gone. So no need to break into a bank. Just rob you from your smartphone.

While the crypto currency trend continues, await harder nosed regulations, taxation and  restrictions that take the lustre off these coins. LivingOffset looks a very risky investment.  To some up LivingOffset – it is like asking someone else to quit smoking on your behalf. How do you benefit health wise?

Then again actions always speak louder than words. Aircraft travel is set double by 2035 according to IATA. Last time I looked, aircraft run on fossil fuels. Once again, peoples’s consumption habits are the best indicator of commitment to climate abatement.

Valentine’s Day according to Google Trends


Gender stereotypes? Google Trends just threw a spanner in the works in a study on Valentine’s Day gift searches for a loved one. It seeems like women are far more proactive and engaged in searching for gift ideas than their boyfriends appear to be. What could explain it?

Could it be that men simply are too hard wired/unimaginative? Many women could attest to their men sticking with boring flowers, chocolates, and dinner reservations through experience or a sense of duty.

Tales out of school. At my old firm I used to buy 120 individually wrapped cakes for my female clients on Valentine’s Day and spend all morning delivering them personally. Never did I receive more sincere thank you’s for thinking more creatively than dropping off boring chocolates. So a note to the lazy men out there – women seem more likely to praise the “effort” over the “result” – hopefully ladies can confirm this so we can get “equality” back into Valentine’s search engines.

Could it be that males are harder to shop for causing women to have to search harder? Could it be that women are kinder and more thoughtful souls than men?

Most women get that men probably don’t want flowers or chocolates, but what will he like? Season tickets to watch his favourite team? A sports magazine? Golf balls (dangerous territory if he’s a keen golfer), motorcycle parts (extremely high risk)? A tie? Socks? iPhone goods? Underwear? Don’t laugh. Studies show that women are behind 80% of the purchases of men’s undies. Indeed it may well be that men are pickier (or lazier) about gifts causing women to search 2-3x more.

If we look at the above chart it seems that women searching for gifts for their boyfriends keeps making higher highs as the deadline approaches. Men too albeit at a flatter trajectory.

Maybe the devil in the data is what Google could really do for men and women. Instead of judging a partner’s devotion by the scale of money dished out on such a grossly commercial day, perhaps Google could let one know how much they meant to their significant other by the timeline on when the Valentine’s Day search began and to avoid gaming the system informing hours spent online during the process.

There are millions of factors which trigger Valentine’s decisions but isn’t that what diversity is all about – freedom of choice.