Category: Economics

The Thorium Cycle, Part Two

A question you may be asking yourselves now is: if there is a commercially viable application of the Thorium cycle, why haven’t I heard of it before? Well, there is a very simple and obvious answer to this: according to calculations from Canada and India, a kilowatt hour of electricity generated from Thorium will cost about three pence. That’s about a tenth of the current price of immensely subsidised “renewable” energy in the UK and much of Western Europe.

If a truly environmentally friendly energy became available at that price, it would quite totally upset the apple cart of the “green” industry along with its research grants and subsidised non-businesses.

As a whole, “renewables” rely heavily on the taxpayers’ largesse to be kept alive, along with all the “green” and “eco-friendly” investment bonds which are of course not environmentally friendly or socially acceptable at all, as we’ve already seen with regards to the appalling impact of rare earth mining and the increasing number of deaths from NOx pollution since “decarbonisation” began in earnest.

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The Thorium Cycle, Part One

Rightly or wrongly, I consider myself to be a reasonably educated sort of fellow. But a few years ago, it struck me as rather odd that I had never heard of the Thorium cycle or the molten salt reactor (MSR).

I’m neither a nuclear scientist nor a physicist (nor much of a scientist neither) and I don’t pretend to be one. But I found it rather surprising that apparently a few chapters had been airbrushed out of the history of nuclear science, namely the before mentioned Thorium cycle and the MSR. Now, you might at this point wonder why this is even a thing, and never having heard of them neither, I would share the sentiment.

As we all know, to run a successful economy an abundant supply of safe and cheap energy is essential. And ever since someone on the Asian steppes bartered the first sack of bailey for a goat or a lamb, successful business transactions were at the heart of the human endeavour – no energy, no progress. Simple as that.

Without economic activity, there would have been no cuneiform script, no mathematics, no Pyramids along the Nile, and of course no classical antiquity along the Med from Jerusalem to Athens, and later beyond.

Guardian Council, Going Postal

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Marx and Immigration

Popinjay, Going Postal
Extreme far-right, anti-immigration, little Englander Karl Marx

The Labour Party is currently led by Jeremy ‘Marxism is a philosophy for all time’ Corbyn, and John ‘Let me be straight with you, I am a Marxist’ McDonnell. Both are fanatically in favour of open borders, but what did their intellectual hero say about the economic benefits of the free movement of Labour, and who reaps the rewards, and who loses out?

Well, in Das Kapital, Marx notes that slave owners have to look after their slaves if they are going to make a profit from their labour, unless there are cheaply available slaves as  a result of a flourishing slave trade, in which case they can work their slaves to death and replace them.

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UK Since the Referendum-Lies, Damn Lies and Statistics

(All data, graphs and figures from the Office for National Statistics. Available under the Open Government License.)

Where to begin? The amount of disinformation before, during and after the referendum on EU membership has been staggering. Now commonly called fake news, this has been spread by various mainstream media across television, the internet and old fashioned newspapers. It includes national broadcasters, key politicians, pressure groups, vacuous celebrities and even a U.S. President. As the saying goes there are “lies, damned lies, and statistics.” So I am going to examine a few. As with most things the context is key. We are now in a position to see what has happened 18 months down the line. Looking at long term trends also helps put things in perspective.

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Brexit Negotiations

Godfrey Bloom, Going Postal
Prof. Godfrey Bloom

We hear of the proposed £60 billion pay off to the EU. It grows everyday. The extraordinary aspect of this whole sorry affair is the complete lack of professionalism in theses negotiations.

Possibly no surprise as the participants are all drawn from the political & bureaucratic class. Untrained in these matters & playing with money that belongs to someone else. As the Americans would say, nobody has any ‘skin in the game’.

From a British perspective this approach was flawed from the beginning. The standard of the modern politician in Europe is woeful. The British civil service are third raters promoted paradoxically on their uncritical commitment to the EU project. In short nearly all the players in the game are Remainers save one or two token Leave politicians as window dressing for the home electorate.

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The Fiscal Gap, by Godfrey Bloom

Going Postal, Godfrey Bloom
I wonder what would happen if our bank manager called us in because he was worried about our spending. The Chancellor of the Exchequer of course has no bank manager in the way we do.
But he has a Treasury team, a Bank of England which pretends to independence & a free press.
Surely these constraints guarantee fiscal probity?
But of course they do no such thing. The Chancellor is the boss of the Treasury team, they report to him, they are his employees. Their promotion, pensions & oh so important honours depend solely upon him. Moreover, fascinatingly, most of his staff are laymen in the field of finance as indeed he is himself. Appointed by another layman for political advantage. The Bank of England hierarchy are dependent upon his patronage. He appoints the BoE Governor, negotiates his salary has the power to sack him & appoint another. So fiscal strategy is in the hands of a political layman committed not to the financial well being of the country but the re election of his political party. In a social & corporate welfare state there is periodical election where political parties compete to promise more financial goodies for the electorate. This is paid for by more future taxation when the electoral heat is off, by borrowing or printing more money.

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We Must Restore Economic Growth

Going Postal, Godfrey BloomThe UK is agonising over BREXIT, the debate drags on, the negotiations go nowhere, but we are addressing the wrong problem. Look at the numbers, forget the rhetoric. Small & medium size businesses account for 80% of the U.K. Economy, a figure not too far from that of most industrialised economies. We worry about BREXIT but European exports from the UK account for barely 8%. It is a bit like being a year behind with your mortgage payments but fretting over the milk bill.

What is the main bone of contention for small businessmen & women? Regulation! Heaps of it. There is no aspect of commerce which the State feels it is not duty bound to interfere. Paradoxically neither politicians nor bureaucrats have any experience of small business. The most crippling regulation is employment legislation. It is based entirely on the bizarre assumption that all employers are early Victorian mill owners. That without regulation they would starve & beat their employees unmercifully. Had they experienced real life they would know good employees are solid gold. Employers live in fear of losing them or not being able to attract them in the first place. This is reflected in post war employee benefits the envy of many other parts of the world.

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