Green Illusions

A recent, long post on Linked-In relates the story of how an attempt to set up a business recycling aluminium cans in the city of Toulouse in France failed for reasons of cost, lack of customer appetite, and ultimately out of the sheer technical impossibility of achieving the desired 100% ‘Green Loop’ for which the enterprise – ‘La Boucle Verte’ – was named.

Having delivered a fairly detailed case history of the business itself, the author – ‘Founder and President’ Charles Dauzet – then gives way to an even lengthier disquisition on what he himself describes as ‘the illusion of green growth’; a diatribe in which all the usual tropes of denialism are themselves lovingly and painstakingly recycled, complete with a supposedly telling graph showing that world GDP per capita tends to move in rough correspondence with total oil consumption (a relation which, in fact, shows we are collectively becoming more sparing in our usage).

Since oil is held to be a finite resource (and passing over the issue of whether, if it truly is so in any meaningful sense, it is the only one at our disposal), the righteous M. Dauzet jumps straight to the conclusion that we must abandon the very idea of material progress itself since, one day, we must inevitably exhaust the means to fuel it.

Oh dear!

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A Long March to the Bottom

Last week, as the Trade War with the US worsened – and as the assault on China’s flagship telecoms company, Huawei, was intensified – President Xi Jinping, accompanied by his chief trade negotiator, Liu He, made a highly symbolic visit to Jiangxi, the starting point of the Communist Party’s fabled  ‘Long March’ in 1934. [First published May 27th] Continue reading

The Ph(o)enix Rises

Please find links to some of the commentaries made as part your author’s role as investment strategy adviser to Phenix Consulting & Asset Management over the course of 2018. ‘Market Movers’ provide updates on developments in and projections for commodity markets themselves while ‘Primary Concerns’ presents the L/S fund’s monthly results:- Continue reading

Trade Wars: Those damn’d torpedoes are OURS!

For many an age, a principal element of Britain’s strategy in its frequent wars with its Continental rivals was that of the naval blockade.

Throughout the long years of increasing mastery of the High Seas, the nation’s fleet admirals, frigate captains and often forcibly-impressed jack tars were frequently to be found, hovering just beyond the enemy’s horizon in order to deny their French, Dutch, or Spanish adversaries any freedom of navigation, whether for commercial or military purposes. Thus they aimed to limit their foes’ operational reach and slowly to bleed their economies dry.

Indeed, the one great defeat suffered by the British in a quarter of a millennium of oceanic predominance was partly the result of the fleet’s rare inability to secure its grip on the coastline of the Crown’s rebellious subjects in the American colonies – a failure partly due to sheer logistical difficulties and partly to the confusion of purpose which the simultaneous defence of the then more highly-prized Caribbean sugar islands entailed. Continue reading

Trade Wars: Blue-on-Blue

The so-called ‘war’ over trade being conducted by the US & China has given rise to much ill-informed commentary about its supposed benefits, its prospective victims, and China’s putative responses. Continue reading

How the VIX Seller Lost his Shirt (updated)

Previously featured by the good folk at Real Vision, my look at how the narrative we construct around the events of the market is all important in determining how we react to it and, hence, what further ramifications these might involve.

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Certain, clean & Swiss??

Going into to their 21st May referendum on energy policy, the Swiss find themselves confronted by some dreadfully misleading propaganda – issued not just by the usual motley crew of environmental extremists and green rent-seekers, but also by a government whose own tortuously-constructed programme is at stake in the vote.

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