…
By Jo Nova
Banks are not only fleeing from the Net-Zero Bankers club, now they are abandoning their own Net Zero targets too, and in dumping them, we find out they never meant a damn thing anyway. It’s the complete disassembly of a plastic onion, every layer just a fake as the layer before.
But none of these news or investor outlets is even asking the right questions — why did anyone think banks wanted to save the world? How did it ever make sense to pretend that banking institutions were going to turn themselves into Global Angels, fixing the weather, harrassing their clients to switch to paper bags, and turning down loans for coal miners?
It’s all unravelling now: Wells Fargo is the first major US bank to abandon its own Net Zero Target for both 2030 and 2050. And why would they do that? Probably because Tennessee and 17 other Republican States were investigating them for fiduciary duty and cartel type behaviour. Wells Fargo abandoned its targets a few weeks ago, and today The US Republican state consortium abandoned their investigation” of Wells Fargo. They’re still investigating other bankers.
“Attorney General Jonathan Skrmetti of Tennessee said in a statement on Thursday that he commended Well Fargo’s decision to step away from “utopian” policymaking.” — Bloomberg
The Responsible Investor (poor thing) says Wells Fargo is the first major US bank to abandon its commitment to the uber fashionable Net Zero target. But Mika Morse laments, it was a big nothing-burger all along. The banks just assumed that they’d get to Net Zero because the whole economy would.
The bankers were just coming along for a free ride:
The Net Zero Mirage — why banks are abandoning climate promises
Mika Morse
After each one, climate advocates, the press, and others will condemn their cowardice in the face of political headwinds.
But… Banks net-zero commitments were a mirage from the outset.
Despite what the greenhawk promoters would have you believe, banks with Net Zero targets didn’t change a thing:
Research from Europe suggests that banks with net-zero commitments do not make any meaningful changes in their lending or engagement with their borrowers to reduce emissions, compared to banks without net-zero commitments.
As JP Morgan says in their 2024 Climate Report — “We don’t boycott”, “We believe in free enterprise” and “We want to compete” — which means they’re not saying no to funding an oil rig if there is a profit in it, thank you.
The research report went on to say “. Net zero banks do not divest from polluting sectors (Figure 1), nor do they scale up project financing for renewable power projects (Figure 2).” The trend lines are the same for the green pretender banks as for the rest. (Click to enlarge).
Global governance is shifting . The banks are just following the levers of power.
Why would any Bank or any other genuine business want to lend money for toxic ruinables that have to be replaced many times more than baseload energy like coal, gas or Nuclear?
Why WASTE TRILLIONs of $ on toxic ruinables that only generate for 3.6 months a year W or about 1.8 months S and destroy 28,000 klms of Eastern Australia?
BTW great to hear Dutton mentioning Labor, Greens, Teals destroying 28,000 klms of our environment as part of his budget reply speech last night.
390
Lending money “creates” money in a fractional banking system. A default on the loan “loses” money but more importantly loses credit. Hence the need for government backed loans.
Governments are popular when free money is created by stimulus and unpopular when budgets are balanced. When you make nothing, “free” money is important.
Government inevitably runs out of other people’s credit. Importing more people may not get you more credit. It is more likely to get lots of liabilities. The interest payments finally become bigger than the ability to tax and still pay expenses.
The elephant in the room is the need for US$2T this year and an ability to pay down the US$37T. If the reserve currency is suddenly worthless, so are all the dependent currencies eg the A$.
We must all hope Musk can save us. We may not be smart enough to save ourselves.
If Musk is successful we will be urged to hate him.
If Musk is not successful we can expect a depression.
240
The bankers were just coming along for a free ride.
The neatest summary I have yet seen.
The election should be just about secured
30
I admire your optimism Ted. Then again farmers have to be optimists or we wouldn’t plant a seed or buy a cow. The other optimist class is surely the small business owner and tradie contractor. Unfortunately the great sponge sector love free stuff and vote accordingly. That is why they hate Musk and those who follow his example. They don’t realise that wells run dry and dams empty.
80
Seems not Bank Australia
OldOzzie
March 26, 2025 at 8:00 am · Reply
David,
It is not only woke Governments that need to take notice
Our Bank Qudos (formerly Qantas Staff Credit Union) is currenly putting a proposal to members for a merger with Bank Australia, who I had never heard of, but has 200,000 Members vs Qudos 100,00 members, with Bank Australia coming from Electrical Trades Union Latrobe Valley, CSIRO & even some Ansett
There was an online presentation on Monday evening at 5.30pm led by Current Brendan Wright CEO, Qudos Bank, along with the man who will replace him, Damien Walsh, the current CEO and Managing Director of Bank Australia
With Damien Walsh, I felt I was watching a Labor Party promotional night, he stated that Bank Australia spend 4% of Revenues on Net Zero 2035, Climate Change & Disinvestment of Fossil Fuels, quoting having helped shut down one of the Latrobe Valley Coal Fired Plants and aiming to hasten shut down of the remaining Coal Fired Plant – He then said Federal Labor Treasurer Jim Chalmers was in favour of the Merger, besides yet again reinforcing his Renewables Fanaticism
Brendan Wright, who is working hard to put himself out of a job, came across as Extremely Professional, whilst the Proposed New CEO, came across as a Wet Limp Lettuce Leaf (Shades of Labor Albo) – as I said to my wife, who was also listening “I wouldn’t put him in charge of peeling potatoes in the Army Cookhouse” (Yes I did have/do that job)
The Spiel reads A true merger of equals:
The Merger with Bank Australia is a proactive decision and a true partnership born out of shared purpose and enduring commitment to customer-owned banking. Jennifer Dalitz, our current Chair at Qudos Bank, will become the new Chair of the Merged Bank, with Qudos Bank having equal representation on the Board of Directors on completion of the Merger. Damien Walsh, the current CEO and managing director
of Bank Australia, will lead the new organisation and head office operations will be split across current locations in Sydney and Melbourne.
The Merger Resolution will be:
“That the members of Qudos Mutual Limited approve the total transfer of the business of Qudos Mutual Limited to Bank Australia Limited,
to take effect on 1 July 2025 or on such otherdate as may be specified by the Australian Prudential Regulation Authority (APRA).”
My Wife & I both voted NO
300
Gary S
March 26, 2025 at 2:08 pm · Reply
OO, I came across Bank Australia recently, possibly as a result of a reference on these pages, and decided to check them out.
A couple of minutes perusing their website and looking at the board and their ‘goals’ was enough to prompt me to send them an email pointing them in the direction of some actual facts regarding ‘climate change’ and ‘net zero’. There was a box to tick if you required a reply – and they did so two weeks later.
Predictably, the reply consisted of the usual ‘97%’ nonsense as well as the claim that 85% of their customer base wanted this bank to take climate action. I then replied to that email along the lines of calling them and their customers out as being hopelessly woke and misinformed, etc., etc. I don’t expect further correspondence.
350
Taking your money out is one sure way of preventing acid buildup and gastric reflux. It also sends a message that a simple letter cannot. There are better returns buying shares in a miner or the big retailers.
20
OldOzzie, Check out Beyond Bank or other community / member owned banks / credit unions. There’s plenty of choice out there, no need to leave you money with a mob that want to enable woke, socialist ideals etc.
130
Regional Australia Bank keeps it simple. No complaints since it started up as a staff Credit Union in the early 1980s.
10
Perhaps the clueless bankers have been following Mark Mills and suddenly realised that the world will require much more reliable baseload energy in the coming decades?
Here’s Mark Mills trying to explain the energy requirements and of course the looming increase from AI. Only takes 5 + minutes.
https://www.youtube.com/watch?v=wDOI-uLvTnY
130
Net greenhouse gas emissions have to be reduced to zero sometime this century. There is no if or but about this, runaway global warming is the consequence if we don’t. Most banks realise this, and they will not invest in stranded assets. The pullback from some US banks is because of silly “anti-woke” Republican policy. The political climate has changed, the physical climate changes due to well understood physics.
3111
Simon, if you want to convince readers here try showing PROOF that there is runaway global warming. Actual proof, not the crap you seem to read and believe.
650
Doing nothing puts us in the SSP5-8.5 emissions scenario. Scary reading.
https://www.ipcc.ch/reports/
345
Simple Simon
You are prepared to change everything based on models from modellers who have an unbroken record of failure? Gutsy call!
BTW, are you living the renewable life? Solar panels on the roof, battery in the garage, with an EV and no other IC powered transport, and, most important, disconnected from the grid? If not, why not? Hypocrisy, perhaps?
280
Performance of the climate models is outstanding, far better than Jo & David’s predictions:
https://www.realclimate.org/index.php/archives/2025/01/comparison-update-2024/
Yes, yes, yes, power supplier is solely renewable. Occasional air travel is my biggest issue.
019
According to NASA, the current models are good for forecasting weather only. They need to improve 100 fold to be accurate for forecasting climate.
“The challenge for climate models is to account for the most important physical processes, including cloud microphysics and cloud dynamics, and their complex interactions accurately enough to carry climatic predictions tens of years into the future. When contemporary models are given information about Earth’s present condition — the size, shape and topography of the continents; the composition of the atmosphere; the amount of sunlight striking the globe — they create artificial climates that mathematically resemble the real one: their temperatures and winds are accurate to within about 5%, but their clouds and rainfall are only accurate to within about 25-35%. Such models can also accurately forecast the temperatures and winds of the weather many days ahead when given information about current conditions.
Unfortunately, such a margin of error is much too large for making a reliable forecast about climate changes, such as the global warming will result from increasing abundances of greenhouse gases in the atmosphere. A doubling in atmospheric carbon dioxide (CO2), predicted to take place in the next 50 to 100 years, is expected to change the radiation balance at the surface by only about 2 percent. Yet according to current climate models, such a small change could raise global mean surface temperatures by between 2-5°C (4-9°F), with potentially dramatic consequences. If a 2 percent change is that important, then a climate model to be useful must be accurate to something like 0.25%. Thus today’s models must be improved by about a hundredfold in accuracy, a very challenging task. To develop a much better understanding of clouds, radiation and precipitation, as well as many other climate processes, we need much better observations.”
So if NASA consider today’s climate models to be pretty crap, I don’t where you are getting your information from.
https://isccp.giss.nasa.gov/role.html#COMP_MODS
170
You’ve hit the nail on the head there Bronco.
NASA admits that the “models” do not model the involvement of human origin CO2 or any type of CO2 in the prediction of likely atmospheric temperature variations.
The political, unscientific verbalism that links CO2 to so called, Global Warming, is best seen as a human control system that drains money and gives politicians a means of domination.
150
>You’ve hit the nail on the head there Bronco
And you’ve driven it soundly home thanks KK.
50
“air travel is my biggest issue.”
Actually , opinions differ on that.
40
Simon, who cares about models! If the weather can’t be predicted a week in advance, why worry about decades?
The simplest argument against AGW to me is that human CO2 is only about 4% of the total. The other 90+% controls the weather if you believe in CO2 driving weather.
Secondly, changes in climate from ice cores data come before CO2 rise. Similarly in weather from Mauna Loa.
A waste of time talking about models.
80
Not sure anyone believes in scenario 8.5 anymore Simon. I have even heard climate alarmist scientists warning that believing in that proposal makes them all look silly. (That’s the “oceans boiling” prediction)
220
RCP 8.5 was considered unrealistic as that is business as usual, i.e. greenhouse gas emissions would continue increasing at historic rates. I was recently talking to some climate modellers who are now using this as the base case, because that is what is going to happen if everybody follows the USA in reneging on their Paris Agreement commitments.
119
RCP 8.5 is considered unrealistic because it vastly underestimated the rate at which CO2 is removed from the atmosphere.
Emissions approximate “business as usual”, but concentrations are at most RCP 4.5.
20
Climate modellers ! Blind faith.
10
OOPs sorry Simon, my fat thumb upvoted you. Please disregard as it was meant to be a down vote.
10
HA HA, we are not even over 4.5 RCP level, you really need to stop hanging onto old modeling failures since it has never been close to 8.5 RCP it is a fantasy that defeated climate cultists hang onto.
190
I dont get scared by the delusional ramblings of others and most especially the IPCC.
130
If we can’t see a tonne of C02 except enclosed in a balloon or looking like a couple of buses it’s a scam, green scummy bastards are just bullshitting everyone as usual
00
*have to be reduced*
Says who? Simon says.
*runaway global warming*
Say what? Simon says.
*well understood physics*
That’s funny. Run along Simon, you’re killing me.
550
Your ship is sinking simon.
370
Sunk: Simon Sunk.
280
Well done Simon. You’re going for the record of red thumb today- you got in early too, smart move! Hopefully, get your century before lunch.
401
Beyond ridicule in my view. It begs the question of why come here. Great to hear peoples views and opinions but it seems some are impervious to talking points that question climate dogma.
20
Simon, you are aware aren’t you that the planet narrowly missed a mass extinction event had CO2 levels continued to drop below about 150ppm or 200ppm at which point photosynthesis stops or becomes extremely inefficient.
The more CO2 the better. I would like to see it at 800-1000ppm to enhance crop yields and also have a safety margin.
Unfortunately there’s nothing much humans can do to alter atmospheric CO2, it’s up to nature.
Man-made CO2 is no more than about 4% of the total CO2 so 4% of 419ppm (2023) which is under 17ppm and it’s rapidly absorbed into the biosphere.
And in any case, Australia is 1% of 17ppm so 0.17ppm.
Your friends the Chicomms are responsible for more than twice the next biggest loss emitter, the United States and the Chicomms have no CO2 restrictions whatsoever, and neither does the US now.
What’s the point of destroying our economy and standard of living over nothing? There is another agenda of course, your Leftist comrades are at war against Western Civilisation and want to destroy it all.
520
Classic David. On the money. 🤦♂️
90
runaway global warming is the consequence if we don’t.
Load of Garbage
Melbourne January 1908
15th 39.9
16th 42.8
17th 44.2
18th 40.0
19th 41.1
20th 42.7
Melbourne January/Febuary 1968 – 24 Days over 30C
1968 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
1st 21.7 24.5 35.3 24.3 19.3 13.5 12.2 13.0 17.0 12.4 28.5 19.2
2nd 22.8 21.2 24.0 25.6 16.8 14.1 11.6 13.8 17.8 13.9 20.1 18.4
3rd 21.6 21.1 24.2 22.3 15.4 13.3 14.3 16.9 16.7 18.7 19.1 15.7
4th 19.2 29.5 20.5 25.1 19.1 12.2 13.9 14.6 18.8 14.4 21.3 16.0
5th 28.6 37.7 18.9 20.2 16.2 11.6 14.3 14.1 17.5 22.7 26.2 17.8
6th 27.6 22.3 21.7 25.6 17.5 15.7 13.7 13.8 14.4 18.8 22.8 19.9
7th 29.2 24.2 25.9 26.1 19.6 12.8 14.2 14.7 14.8 14.1 15.8 20.7
8th 33.2 19.0 25.4 19.6 19.4 13.5 14.8 14.8 12.6 16.4 17.4 28.8
9th 39.3 21.6 25.1 19.0 17.8 14.5 12.4 12.8 14.4 14.6 21.3 23.3
10th 23.3 23.8 31.6 24.0 17.5 13.3 13.1 14.2 15.7 16.1 26.2 16.6
11th 23.1 23.1 28.3 33.4 17.7 14.1 12.0 14.0 19.0 16.7 20.5 22.4
12th 20.9 22.9 21.1 28.8 16.8 18.4 11.2 17.3 18.3 16.1 19.3 28.0
13th 21.1 32.1 29.4 18.6 12.7 17.1 11.9 15.7 16.7 18.3 23.0 25.4
14th 20.3 26.2 23.3 20.1 12.7 14.3 12.1 13.9 17.5 17.2 16.2 36.7
15th 31.0 37.1 30.8 23.8 14.3 17.6 12.4 11.8 15.2 23.2 24.1 33.3
16th 37.4 38.2 27.4 22.8 13.9 15.2 12.9 13.6 17.7 29.4 21.2 20.0
17th 20.4 38.9 36.7 24.4 10.5 13.4 11.6 13.9 16.4 26.8 32.9 25.1
18th 34.2 38.1 35.8 21.1 12.4 13.2 12.9 15.8 18.8 18.6 23.5 21.7
19th 35.9 36.3 23.0 21.9 12.9 12.7 14.0 14.9 21.4 19.7 21.5 21.4
20th 24.3 32.2 25.4 21.1 15.2 12.7 15.2 8.8 13.9 25.7 18.4 18.7
21st 21.6 31.6 26.0 19.5 15.8 11.6 10.4 12.1 13.6 24.9 19.0 26.7
22nd 21.8 23.8 20.6 16.9 16.0 9.9 10.2 13.6 18.3 16.2 26.0 32.8
23rd 37.1 36.3 19.2 20.1 14.8 11.9 11.4 15.8 21.3 17.1 16.8 32.3
24th 40.7 41.4 18.3 21.8 11.8 12.1 11.6 13.9 13.7 16.6 16.8 22.3
25th 26.2 40.9 22.6 23.3 11.3 11.2 9.9 15.4 11.6 14.3 17.4 17.6
26th 23.2 21.9 22.8 22.3 13.5 10.8 13.8 18.2 12.7 17.8 21.4 16.7
27th 34.7 20.1 28.8 25.2 12.7 11.1 14.1 21.1 17.1 24.0 28.8 20.0
28th 27.2 22.3 32.2 19.0 12.2 11.3 13.1 17.1 21.4 17.2 19.4 21.2
29th 22.6 30.1 29.6 22.1 14.3 11.7 14.1 12.2 20.1 16.5 17.7 25.8
30th 36.7 18.2 22.4 15.6 12.3 15.1 15.8 14.1 22.4 18.7 32.2
31st 43.7 19.9 13.6 12.2 17.2 28.6 18.7
330
In 1968 there were weather forecasts, so you probably had some warning of hot conditions impending. Back in 1908, you woke up and thought ” it feels like it’s going to be hot today”. Then it repeated 6 times and was probably reported in the Argus a week later! These days if there’s a heatwave, it’s like the apocalypse is going to happen and you get updates every 5 minutes. How did they ever survive back in those days?
360
Now, now, now … buddy you know the Federation Drought has been deleted from the record. That’s a yellow card, I don’t want to see another of those.
We talk about recent events only mkay? History begins when I say it does. Don’t worry Simon … I got you covered on this one.
140
I hope you have avoided breeding Simon so there are no offsprings to experience the ‘runaway global warming” you foretell. experience.
I can guarantee that the world will still be burning lots of fossil fuel well past the end of the century if you “runaway global warming”, asteroid, nuclear weapons ar other cataclysmic event ends the human race before then. The Marxist ideology that inspired this nonsense is coming to an end.
360
Simon, don’t forget your Chicomm friends have over 3000 coal power stations and are commissioning two per week.
Each one has a life of at least 50 or 60 years.
The Chicomms will be producing the world’s largest amount of CO2 BY FAR, for a very long time, not that it matters.
My only concern about Chinese coal power stations is that the vast amount of inexpensive, reliable power will allow then to dominate the world economy while the West suffers economic collapse under current “green” policies, except the USA under TRUMP.
400
Don’t worry about it Simon.
The world has already ended according to “climate scientists” – at least 3 times in my lifetime. Others believers state that the dams will never be full again or that the oceans are boiling and that major cities will be inundated. Meanwhile these same prophets happily build their homes next to rivers or by the seaside.
Gerbil warming is the greatest money making scam by charlatans ever – as long as the gullible governments ignore reality and pander to this delusion.
300
Your side ain’t got it right in over 50 years.
https://climatechangedispatch.com/50-years-failed-climate-predictions/
Or is it 120 years of climate prediction failures?
https://710wor.iheart.com/featured/mark-simone/content/2019-10-08-the-list-of-120-years-of-climate-scares-by-scientists/
Really, Simon. If you haven’t been correct in 120 years, it is difficult to take your approbations seriously.
Arctic ice is growing, Antarctic ice is growing, glaciers are growing, there is no ice free arctic passage, so why are you ringing the bell for no factual reasons at all?
180
Simon Simon Simon.
Are you able to discern?
The fools and rats are already swimming.
You feel free to identify with either of them as you wish.
100
Simon thanks for dropping in, there is a debate looming over energy and ultimately climate change.
‘Peter Dutton has begun his pitch to voters with a stinging attack on the Prime Minister’s ‘bad decisions’, and a warning that expensive, unreliable energy under Labor is a ‘disaster for the economy’. (Oz)
151
Once again, I trot this April 2016 NASA report, the one showing that life on the planet love all this additional CO2 in the air.
Carbon Dioxide Fertilization Greening Earth, Study Finds
Excerpt:
From a quarter to half of Earth’s vegetated lands has shown significant greening over the last 35 years largely due to rising levels of atmospheric carbon dioxide, according to a new study published in the journal Nature Climate Change on April 25.
An international team of 32 authors from 24 institutions in eight countries led the effort, which involved using satellite data from NASA’s Moderate Resolution Imaging Spectrometer and the National Oceanic and Atmospheric Administration’s Advanced Very High Resolution Radiometer instruments to help determine the leaf area index, or amount of leaf cover, over the planet’s vegetated regions. The greening represents an increase in leaves on plants and trees equivalent in area to two times the continental United States.
LINK
50
The pullback is because of Trump.
And its not because they agree with his policies.
They are now worried about the spotlight on the theft
of the tax payers from these banks.
Sunlight made possible by Trump & DODGE, X, and sites like Jo’s.
10
BTW I’ll be very happy to save 14 $ a tank to fill up if the Coalition win in May.
You will get an immediate saving of 14 $ in about 6 weeks time and sure beats Labor’s lousy 70 cents a day in another 15 months time. What a joke.
350
Dutton’s fuel price relief is very compelling. The vast majority of people put petrol in a car. Even those on allowances and pensions. All divers are conditioned to looking at the price of fuel. I think Trump has already influenced the price globally because prices are lower now than before his presidency.
Fuel price will provide immediate relief for every vehicle owner; including businesses and will flow through to most areas of the economy. It is at least deflationary pressure.
Something I had not realised until today is that the LGC price is crashing ahead of the end of the RET in 2030. That bodes well for the retail electricity price because retailers’ costs to buy LGCs will be reducing; and quite fast. Price has dropped from over $40/MWh to just over $20/MWh in a few months.
160
This policy has Labor on the back foot. Their tax relief comes after a year. It is too little too late. A bird in the hand is worth ten in the bush. It is wining policy for LNP. Whether it is enough, time will tell; apparently around the 3rd of May.
80
May 3 confirmed:
https://www.abc.net.au/news/2025-03-28/federal-election-live-blog-anthony-albanese-peter-dutton/104935922
30
It only took Albo a few minutes to mention his mum and visibly tear up in front of the cameras. He’s probably already kissed several babies before lunchtime.
60
Actors can be trained to cry on cue.
40
Poor Jodie Haydon; already her betrothed Albo is looking shrunken and wizened in those shots of him from behind in parliament –surely she can find a hair stylist to relieve him of the dreadful old style RSL coiffure he sports.
20
We need a shareholder with large holdings or a class action lawsuit against bank directors to sue them for failing to fulfil their duties by refusing to take on profitable opportunities to fund coal mines, power stations, gasoline cars etc..
Also they should NOT invest in companies at high risk of failure due to DEI and ESG policies or who depend on taxpayer subsidies. Sue them for funding such high risk companies.
230
How long until your their/they/turtle ABC catch up with not only international banksters but also Jo’s esteemed and cultured regulars?
“The Earth is getting dryer [sic] and may have hit a tipping point for how much water is stored in soil because [wait for it…] climate change [which is outpacing] Greenland’s melting ice sheets [?] according to a new study in … Science”.
No link as it’s not hard to find and I don’t want to sully Jo’s outstanding site with such childish delusional pap. The alleged hydrologists state their data goes all the way back to 2002 or so, hence further research [funds] are needed to understand the ™️Settled Science™️.
What are the chances of a ‘new’ government next month DOGE-ing the ABC, the BoM, the CSIRO?
200
I would rather they were sold. Let the Bankers value them. And if they are worthless, why keep them let alone pay more and more for nothing worthwhile. They are shadows of early 20th century British institutions, completely obsolete. As for multi ethnic broadcaster SBS, words fail in the internet Space-X age.
200
I agree. They are not impartial. They are all marxist propaganda bureaucracies. Any business that is not market driven is destined to embed marxist ideology because it is never accountable.
The UN is a fine example. As the USA “climate ambition” gets wobbly under Trump, the UN is now pushing African nations to demand a climate tax on global shipping. The UN will be the administrator, collector and distributor of the tax take. The UN has been pushing for a global taxation scheme for the last 4 decades. It no longer serves its initial purpose. It is myopically focused on getting a sustainable income stream without going to democratically elected politicians.
160
The term Marxism appears fairly regularly on these pages. It occurred to me that I couldn’t remember what it actually meant. So I spent 20 minutes reading wikipedia (where else).
It turns out I did remember what it actually meant.
I suppose it never occurred to them that bureaucracy would turn out to be the real enemy of the proles. And that human nature is that those who have want to use what they have to preserve what they’ve got or to get more.
On a related track, not Marxism I know, but as John Lennon once sang…
if you go carrying books of Chairman Mao you ain’t going to make it with anybody anyhow.
If it ends with “ism” you can count me out!
110
John Lennon also told us to imagine all the people, with no possessions. Klaus Schwab sings the same tune – you vill own nothing!
60
There may be a difference. Lennon appears to have been idealistic. Give peace a chance, etc.
Schwab and his acolytes intend to own plenty. It is only others who will own nothing.
60
Not as far apart as you think … dirtbags often pretend to be idealistic (and slightly eccentric) because it’s a very disarming cover story … while genuine idealists frequently end up as useful idiots, doing the grunt work for dirtbags.
20
Bankers have the collective social conscience of a dog on a croquet lawn.
And always first down the hawser.
It’s a good sign though that the people who do the least work for the most money think MAGA is here to stay.
190
It’s been a profitable morning for my education.
I don’t think I’ve ever come across the term “hawser” before.
Perhaps I needed to have more to do with thick ropes myself in my youth.
60
Pipes of any kind are immensely valuable.
What you put through them might be thick or thin but if applied correctly you might have success….
30
In the manner that President Trump’s Dept of Govt Expenditure is revealing, banks in Australia have increased their control over customers by altering the contracts that apply.
What contract would that be? Possibly you recall agreeing to a multi-page small print document when you opened a bank account. Can you remember any clauses? Can you remember signing or agreeing to later amendments? Did you receive any notice of amendments?
Do you know that one major bank has in its contract that you, as account holder, must not (yes, MUST NOT) reveal your access code number to any other person, including family.
Now, a contract is a nonsense if it is unenforceable. Yet, the bank can use this clause to declare you in breach of contract, close your account and likely put you to the expense of opening with another bank.
Why not access your latest contract, sourced online, to see it has difficult clauses, then ask your bank what it will do to correct them? Geoff S
80
The banks will drop “renewable ” investments because they are a losing proposition and if they don’t their share price will tank . Losses eat profits and by extension dividends . Cause and effect – which is what the climate actually runs on , not fantasies . I don’t know why Simon keeps going – but he is a troll and you should not feed him….
90
The International Centre for Investment Disputes (ICSID) database shows there are 71 cases relating to a Renewable Energy Enterprise, compared with 74 for mining concessions.
https://icsid.worldbank.org/cases/case-database
Not a bad tally for such a short run out there….
30
Do you want to be able to borrow capital and pay interest? Or not?
20
Things don’t always go your way, but that said, you had a chance where you didn’t before.
20