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Monday, 14 March

17:10

British Labour Party surrenders … back to its Monetarist roots Bill Mitchell – billy blog

Last week, the shadow British Chancellor, John McDonnell confirmed that the British Labour Party under Jeremy Corbyn will not be part of a progressive realignment of the public debate regarding fiscal policy. By that I mean, they have chosen, probably for misplaced ‘political’ concerns (leaving aside total ignorance), to reinforce in the public mind the neo-liberal myths relating to the capacities of a currency-issuing government to spend and advance prosperity. I have no doubt that John McDonnell desires, genuinely, to advance the material well-being of the working class in Britain. His public career to date would suggest that. But like many on the Left, he has been seduced by the neo-liberal snake oil into believing that fiscal rules that bind a currency-issuing government to balance, in total or in part, the fiscal situation and that such a government should submit itself to the dictates of a technocracy full of mainstream economists, is a necessary requirement of responsible fiscal management. His most recent statements really amount to surrender. The British Labour Party is staying faithful to its Monetarist roots, which were established in 1974 under Harold Wilson’s second tilt at the top job. The distractions of New Labour and now Jeremy Corbyn has not really changed anything. This is a neo-liberal party no matter what they claim and their advice and underpinnings are firmly neo-liberal.

I have written about this in the recent past but there are some things that need repeating and further amplification.

Please read the following blogs for previous statements on this topic:

1. British Labour Party – U-turning towards oblivion.

2. British Labour Party is mad to sign up to the ‘Charter of Budget Responsibility’.

3....

14:55

Thai wind giant buys stake in CWP, sees “tremendous potential” in Australian market Renew Economy

Wind Energy Holding to buy stake in CWP Renewables, Australian company behind ACT auction winner 260MW Sapphire wind project near Glen Innes in northern NSW.

14:27

GO Energy again halts trade pending ‘financing update’ Renew Economy

Another hurdle for GO Energy, as trade suspended for second time in a month – and just days after an investor update.

14:12

How Tasmania missed its nine key energy targets Renew Economy

Tasmania's energy plan last year outlined nine key aims. It appears to have failed on all of them.

14:05

New modelling shows renewable-based system cheaper than fossil fuels Renew Economy

New modelling shows an electricity system based on 85% renewable energy is cheaper than one based on similar percentage of fossil fuels. With wind and solar costs to fall, it is probable that 100% renewable energy is cheaper than coal and gas.

13:45

Renewable transitions for mines, industrial facilities, and the military Renew Economy

What do mines, industrial facilities, and the military all have in common? They all have a need for reliable electricity in remote locations.

13:44

Caltex taps solar PV, so it can pump more diesel at remote fuel stations Renew Economy

Caltex uses solar and battery storage to power portable diesel pumping stations – an "environmentally friendly" initiative to supply 24-hour diesel fuel in remote WA.

13:41

A swarm of EVs for the grid Renew Economy

German firms have come together to test whether EVs might be able to help stablize the grid when connected to it. The results are promising.

11:52

New China energy data: coal imports down a further 10% Renew Economy

While electricity consumption was up just 0.3% yoy for the January-February period, coal imports fell 10.2% and coal production declined 6.4%.

Saturday, 12 March

04:44

China’s Startups Weather the Economic Slowdown The Diplomat » Pacific Money

Despite a slumping currency and slowing growth, China's startup scene remains full of optimism.

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