My latest stock tip is PACCAR Inc., (Nasdaq PCAR) They're a truck manufacturer and a pretty good one at that. Brands under their roof include Kenworth, Peterbilt and DAF.
They also own Leyland and Foden. Why they retired these brands is a matter of conjecture and a mistake in my opinion. The Leyland plant in England is still producing but the trucks coming out the door are branded DAF. This seems strange as Leyland is a well respected premium truck brand right across the former British Empire. Foden also has a respected name, particularly its tippers. Maybe the Americans don't understand the depth and breadth of the brands.
But that aside, PACCAR is cheap right now. Since I adjusted my portfolio they're up 4%. By the way, for those following my tips, back in January 2016 I tipped Joy Global which was about $10 at the time. Later that year when Komatsu America bought them out, the price was just north of $28. I did say at the time that it was a pick for the not so risk averse as it could go either way. For those of you that are risk takers, you made a lot of money.
Is PACCAR in the Joy Global camp? No way. Can you imagine a world without Kenworth? I can't and that's why they won't disappear any time soon.
June 29, 2017
June 28, 2017
Forgotten Companies
I found this link interesting http://contractormag.co.nz/classic-machines/hough/ It tells the story of Hough, the US manufacturer of good Wheel Loaders. Depending on which story you believe. Hough invented the fully hydraulic pivot steer loader (while others say that was the Moore Scoopmobile). On my trip to the US last year I saw many Hough loaders still in their original paint.
That got me to thinking, what about those brands that are still hanging on somewhere, anywhere.
How about Gradall These telescopic boom excavators are innovative but never found widespread support.
Smalley is the inventor of the mini excavator. Made in the UK, they were, I believe, originally grave diggers. Then they put out a dredger for clearing canals, and these were exported to India. The company still exists.
One brand that doesn't appear around anymore is the Halitrax skid steer loader. Made in New Zealand they were the inventor of the rubber track skid steer loader and subsequently copied worldwide. They were sold mostly in Auckland and the upper North Island and in the Sydney and New South Wales market. In Australia an earthmover will still advertise having ' a Drott, a Tipper and a Halitrax,' the terms being industry standard.
The Bedford J5 and J6 is no longer made but they live on in Pakistan where the trucks have gained legend status. That's because they're simple, powerful and tough. Pakistan still import used J5/J6's and fit wooden bodies to the chassis. On their rough roads wooden bodies hold up better. Many will be familiar with the decorated site of these trucks: http://s3.amazonaws.com/mbc_actionha/uploads/56997/original.jpg
Why isn't the venerable Bedford J5/J6 still being made? It seems a no-brainer for certain conditions.
That got me to thinking, what about those brands that are still hanging on somewhere, anywhere.
How about Gradall These telescopic boom excavators are innovative but never found widespread support.
Smalley is the inventor of the mini excavator. Made in the UK, they were, I believe, originally grave diggers. Then they put out a dredger for clearing canals, and these were exported to India. The company still exists.
One brand that doesn't appear around anymore is the Halitrax skid steer loader. Made in New Zealand they were the inventor of the rubber track skid steer loader and subsequently copied worldwide. They were sold mostly in Auckland and the upper North Island and in the Sydney and New South Wales market. In Australia an earthmover will still advertise having ' a Drott, a Tipper and a Halitrax,' the terms being industry standard.
The Bedford J5 and J6 is no longer made but they live on in Pakistan where the trucks have gained legend status. That's because they're simple, powerful and tough. Pakistan still import used J5/J6's and fit wooden bodies to the chassis. On their rough roads wooden bodies hold up better. Many will be familiar with the decorated site of these trucks: http://s3.amazonaws.com/mbc_actionha/uploads/56997/original.jpg
Why isn't the venerable Bedford J5/J6 still being made? It seems a no-brainer for certain conditions.
June 27, 2017
Team New Zealand Win 35th America's Cup
New Zealand have won the America's cup for the second time as challenger. It's been four long years since their massive choke in San Francisco.
Listen to Peter Montgomery's iconic call of the final race http://www.radiosport.co.nz/on-demand/audio/pj-montgomery-calling-the-americas-cup-win/
Larry Ellison of Oracle got this one wrong. It may have been a mistake taking the competition to Bermuda. But stand in Ellison's shoes for a minute and see things from his perspective. He's one man and his billions up against the combined mass of the oil rich United Arab Emirates and the world's biggest milk products exporter (New Zealand). He probably sees himself as the little guy. Okay, stop feeling sorry for him now as he pretty much stole the Cup from Alinghi after the Swiss stole the cup from New Zealand. I say stole as all the aforementioned teams survive by buying Kiwis.
A relief then as the NZ government are going to have to spend money and that'll be good for the economy. It'll be good to see the Italians back in Auckland as the challenger of record. When they were last in town they made themselves almost as popular as the home team.
Afterthought: Will someone make the NZ skipper Glenn Ashby Prime Minister. Thank you. He's the type of guy NZ needs leading. Men would even follow the man into battle.
Listen to Peter Montgomery's iconic call of the final race http://www.radiosport.co.nz/on-demand/audio/pj-montgomery-calling-the-americas-cup-win/
Larry Ellison of Oracle got this one wrong. It may have been a mistake taking the competition to Bermuda. But stand in Ellison's shoes for a minute and see things from his perspective. He's one man and his billions up against the combined mass of the oil rich United Arab Emirates and the world's biggest milk products exporter (New Zealand). He probably sees himself as the little guy. Okay, stop feeling sorry for him now as he pretty much stole the Cup from Alinghi after the Swiss stole the cup from New Zealand. I say stole as all the aforementioned teams survive by buying Kiwis.
A relief then as the NZ government are going to have to spend money and that'll be good for the economy. It'll be good to see the Italians back in Auckland as the challenger of record. When they were last in town they made themselves almost as popular as the home team.
Afterthought: Will someone make the NZ skipper Glenn Ashby Prime Minister. Thank you. He's the type of guy NZ needs leading. Men would even follow the man into battle.
June 26, 2017
That Weak New Zealand Prime Minister
The events over the last few days illustrate what I've been saying for a long time, the New Zealand Prime Minister Simon "Bill" English is weak. He can't even get his story straight over the Todd Barclay matter. Who cares about what Todd Barclay did? No-one is the answer, but it does matter that the PM lacks a spine and can't stand straight. Do we have to put up with him for another three years? Please National Party caucus, overthrow him and let's move on.
June 23, 2017
I Picked Bradken, Did Anyone Else?
Just to recap, back in 2016 I mentioned Bradken three times.
I first mentioned them at 84 cents here...http://kenhorlor.blogspot.com/2016/04/risky-asx-stcoks-worth-checking-out.html
Then I followed up in June http://kenhorlor.blogspot.com/2016/06/advantages-of-investing-in-stocks.html and November http://kenhorlor.blogspot.com/2016/11/update-advantages-of-investing-in-stocks.html
Note that in October 2016 Bradken came under takeover interest by Hitachi Construction Machinery and the full sale was completed in early 2017. Any investor acting upon my initial pick at 84 cents, would have nearly quadrupled their money. The sale price was $3.25 (Australian Dollars).
My hypothetical $135,000 invested in Bradken would be $513,000 less than a year later. Sometimes I even surprise myself with this stuff.
I first mentioned them at 84 cents here...http://kenhorlor.blogspot.com/2016/04/risky-asx-stcoks-worth-checking-out.html
Then I followed up in June http://kenhorlor.blogspot.com/2016/06/advantages-of-investing-in-stocks.html and November http://kenhorlor.blogspot.com/2016/11/update-advantages-of-investing-in-stocks.html
Note that in October 2016 Bradken came under takeover interest by Hitachi Construction Machinery and the full sale was completed in early 2017. Any investor acting upon my initial pick at 84 cents, would have nearly quadrupled their money. The sale price was $3.25 (Australian Dollars).
My hypothetical $135,000 invested in Bradken would be $513,000 less than a year later. Sometimes I even surprise myself with this stuff.
June 21, 2017
Pike River Latest
The latest video footage from inside the Pike River mine is interesting to say the least. There is at least one wooden pallet still intact which means the temperatures inside the mine weren't that hot after all. It's quite likely there are bodies down the mine. There really is no reason for the continued refusals to enter the mine.
Has there been a cover up? It certainly looks that way but I don't see what exactly is being covered up.
The very weak and ineffectual New Zealand Prime Minister Simon "Bill" English should finally do something. New information and all that. But then with English's performance this past week regarding the Todd Barclay matter, I wouldn't be holding my breath.
Has there been a cover up? It certainly looks that way but I don't see what exactly is being covered up.
The very weak and ineffectual New Zealand Prime Minister Simon "Bill" English should finally do something. New information and all that. But then with English's performance this past week regarding the Todd Barclay matter, I wouldn't be holding my breath.
June 15, 2017
New Zealanders - Investing and Buying a House
This post is directed at New Zealanders and permanent residents of New Zealand. You're bombarded daily with what amounts to rubbish about what you should do with your money. My advice, ignore them and do what you're already doing. Whatever it is it's likely to be better than the advice you're receiving, that's how bad most advice is.
But if wondering how to structure your thinking, then read on. I'm assuming you make all your decisions yourself and make all your investments directly where possible. You do this right? If not then you're likely to come up short of expectations as an entire industry in New Zealand is devoted to fleecing you and everyone else.
So let's get started. Consider the young family, two children of school age with one parent working fulltime on less than $50,000 a year. Can you get ahead and buy a house? The answer is yes and here's how:
1. Live within your income at all times. Do not borrow, never use the credit card. Do not take expensive holidays and if you do go on holiday make it the neighbouring beach town and its cheapest motel (not camping, that's expensive). Only buy real food and only eat just enough. Do not buy so much you throw stuff out. Use water to clean (warm water is the world's best solvent, proven so by Chemists), do not buy cleaning chemicals. If you garden, go to auction rooms and such and buy secondhand tools, secondhand furniture, use Trade Me to buy stuff others are throwing out (it's often quite good).
For clothing visit the thrift stores such as the Salvation Army. They often sell new clothing for $1 or $2 an item. How this works is tourists throw away items that won't fit in their suitcase, the 'Sallies' collect the clothing up and then distribute them around their stores. We're talking name brands here, but you have to be patient and visit the stores regularly. In electronics for that all-important laptop computer, look for ex-lease sales or get the latest cheap deal from Warehouse Stationery online. The latter deliver very promptly and can be much cheaper than in store. Never get carried away with electronics, do not buy Sky TV, better still buy a cheap DVD player and buy cheap DVD's in the bargain bins once a month. This is entertainment, and use Trade Me to buy a cheap TV. Another source of electronics, bicycles and stuff is the local Pawn shop. They're always looking to unload their unredeemed items.
A family which lives like this can exist and even save if they follow my advice. Own only one car and make sure it's a small Toyota or Subaru. They never break down.
Furthermore, live in a small regional town, get out of Auckland.
2. Kiwisaver, that's the compulsory retirement saving taken from your income each week, just pay the minimum. Have it paid into a conservative fund, or possibly a balanced growth fund if you're under 40. For older savers just stay conservative as you will be aware markets do melt down and you want to collect this money when you're 65.
3. Register and collect Working for Families. For a family as described above the sum you receive is about $9,000 each year. This is what you save. Remember you are living within your income - right?
Think about how you will receive this money. You have two choices, either take the money in advance weekly based on an estimate of what you will earn, or in a lump sum based on the year gone past. The second option is prudent as you know how much you'll be getting and it comes as a lump sum. With the weekly in advance approach you can end up owing the Inland Revenue money if you get it wrong.
4. Invest in Bonus Bonds. That's because Bonus Bonds do not impact your Working for Families entitlement. Just about everything else does; for instance any income from bank interest or dividends from companies reduce the amount your receive. Even sizeable gifts from family reduce Working for Families. But not Bonus Bonds. And you may win a large prize, and if you do you still receive Working for Families. Let this pool of money compound, that means have your prizes from Bonus Bonds be reinvested in more bonds, and then let prizes you win win more prizes.
5. Take a proportion of the $9,000 (suggest $5,000 Bonus Bonds, $4,000 shares) and invest in companies through the New Zealand and Australian stock exchanges. In doing this, look for companies that are solid but have been on the receiving end of bad news recently. The market disproportionately penalises bad news and then gets drunk on good news. These companies won't pay too much in dividends and thus you'll still maximise your Working for Families. Hold these investments for a long time and take any capital returns (that's where the company returns money to you over and above regular dividends) and invest that in more shares. Any company that is taken over, take the money and invest in more shares. Over time your investments grow and they can grow a lot.
The capital gain from the above activity is completely tax free in New Zealand. You bought these companies because they were cheap at the time and you bought to realise income from them over time. You did not speculate and trade in buying and selling shares.
[Example: Steel and Tube It is in trouble over mislabelling of its steel but its earnings are always satisfactory.]
Remember to own these shares directly in your own name. Do not invest in managed funds. Why? With funds you have no control over how they operate and they charge fees which soak up your potential returns.
6. Now you have the stake to buy a house. This came about because you lived within your income at all times, you did not spend unnecessarily, and you claimed what you were entitled to. Then when you did invest you did so largely tax free.
When you do buy a house, up and coming areas are always good, or run down areas of large cities that are gentrifying. For instance, Tauranga or Nelson not Wanganui or Blenheim (sorry Blenheim). In Auckland, think West Auckland; in Wellington think Newtown.
Keep doing 1 through 5 above but take any gains you make and pay off the mortgage. To this end a variable rate floating type of mortgage is best. If you do fix the mortgage rate make sure you can make capital repayments up to a certain sum without penalty. Paying off the mortgage quickly is the best thing you can do, it trumps everything else. A home with an income, such as a small flat attached to the house is also good if you can find such a property (your income rises and Working for Families reduces but you take the rent and pay off the mortgage sooner with higher repayments over a shorter time period).
As the equity in your first home increases, you're now in a position to buy a rental property. You can do this by putting both your own house and the rental acquisition together and borrowing against the combined value. Timed right you can borrow the whole price paid for the rental property you're buying.
Now you're on the path to being wealthy. Your income from employment may have risen with inflation but the wealth you've created was from wise investment and not chasing your tail.
But if wondering how to structure your thinking, then read on. I'm assuming you make all your decisions yourself and make all your investments directly where possible. You do this right? If not then you're likely to come up short of expectations as an entire industry in New Zealand is devoted to fleecing you and everyone else.
So let's get started. Consider the young family, two children of school age with one parent working fulltime on less than $50,000 a year. Can you get ahead and buy a house? The answer is yes and here's how:
1. Live within your income at all times. Do not borrow, never use the credit card. Do not take expensive holidays and if you do go on holiday make it the neighbouring beach town and its cheapest motel (not camping, that's expensive). Only buy real food and only eat just enough. Do not buy so much you throw stuff out. Use water to clean (warm water is the world's best solvent, proven so by Chemists), do not buy cleaning chemicals. If you garden, go to auction rooms and such and buy secondhand tools, secondhand furniture, use Trade Me to buy stuff others are throwing out (it's often quite good).
For clothing visit the thrift stores such as the Salvation Army. They often sell new clothing for $1 or $2 an item. How this works is tourists throw away items that won't fit in their suitcase, the 'Sallies' collect the clothing up and then distribute them around their stores. We're talking name brands here, but you have to be patient and visit the stores regularly. In electronics for that all-important laptop computer, look for ex-lease sales or get the latest cheap deal from Warehouse Stationery online. The latter deliver very promptly and can be much cheaper than in store. Never get carried away with electronics, do not buy Sky TV, better still buy a cheap DVD player and buy cheap DVD's in the bargain bins once a month. This is entertainment, and use Trade Me to buy a cheap TV. Another source of electronics, bicycles and stuff is the local Pawn shop. They're always looking to unload their unredeemed items.
A family which lives like this can exist and even save if they follow my advice. Own only one car and make sure it's a small Toyota or Subaru. They never break down.
Furthermore, live in a small regional town, get out of Auckland.
2. Kiwisaver, that's the compulsory retirement saving taken from your income each week, just pay the minimum. Have it paid into a conservative fund, or possibly a balanced growth fund if you're under 40. For older savers just stay conservative as you will be aware markets do melt down and you want to collect this money when you're 65.
3. Register and collect Working for Families. For a family as described above the sum you receive is about $9,000 each year. This is what you save. Remember you are living within your income - right?
Think about how you will receive this money. You have two choices, either take the money in advance weekly based on an estimate of what you will earn, or in a lump sum based on the year gone past. The second option is prudent as you know how much you'll be getting and it comes as a lump sum. With the weekly in advance approach you can end up owing the Inland Revenue money if you get it wrong.
4. Invest in Bonus Bonds. That's because Bonus Bonds do not impact your Working for Families entitlement. Just about everything else does; for instance any income from bank interest or dividends from companies reduce the amount your receive. Even sizeable gifts from family reduce Working for Families. But not Bonus Bonds. And you may win a large prize, and if you do you still receive Working for Families. Let this pool of money compound, that means have your prizes from Bonus Bonds be reinvested in more bonds, and then let prizes you win win more prizes.
5. Take a proportion of the $9,000 (suggest $5,000 Bonus Bonds, $4,000 shares) and invest in companies through the New Zealand and Australian stock exchanges. In doing this, look for companies that are solid but have been on the receiving end of bad news recently. The market disproportionately penalises bad news and then gets drunk on good news. These companies won't pay too much in dividends and thus you'll still maximise your Working for Families. Hold these investments for a long time and take any capital returns (that's where the company returns money to you over and above regular dividends) and invest that in more shares. Any company that is taken over, take the money and invest in more shares. Over time your investments grow and they can grow a lot.
The capital gain from the above activity is completely tax free in New Zealand. You bought these companies because they were cheap at the time and you bought to realise income from them over time. You did not speculate and trade in buying and selling shares.
[Example: Steel and Tube It is in trouble over mislabelling of its steel but its earnings are always satisfactory.]
Remember to own these shares directly in your own name. Do not invest in managed funds. Why? With funds you have no control over how they operate and they charge fees which soak up your potential returns.
6. Now you have the stake to buy a house. This came about because you lived within your income at all times, you did not spend unnecessarily, and you claimed what you were entitled to. Then when you did invest you did so largely tax free.
When you do buy a house, up and coming areas are always good, or run down areas of large cities that are gentrifying. For instance, Tauranga or Nelson not Wanganui or Blenheim (sorry Blenheim). In Auckland, think West Auckland; in Wellington think Newtown.
Keep doing 1 through 5 above but take any gains you make and pay off the mortgage. To this end a variable rate floating type of mortgage is best. If you do fix the mortgage rate make sure you can make capital repayments up to a certain sum without penalty. Paying off the mortgage quickly is the best thing you can do, it trumps everything else. A home with an income, such as a small flat attached to the house is also good if you can find such a property (your income rises and Working for Families reduces but you take the rent and pay off the mortgage sooner with higher repayments over a shorter time period).
As the equity in your first home increases, you're now in a position to buy a rental property. You can do this by putting both your own house and the rental acquisition together and borrowing against the combined value. Timed right you can borrow the whole price paid for the rental property you're buying.
Now you're on the path to being wealthy. Your income from employment may have risen with inflation but the wealth you've created was from wise investment and not chasing your tail.
June 13, 2017
Matt Barnes - NBA Champion
Yay, my favourite player has just won his first NBA championship ring. Matt Barnes, often traded, never lucky, finally he gets some luck after a long career.
June 10, 2017
UK General Election 2017
Embarrassment for the British Prime Minister Theresa May as she is returned to power on the back of a confidence and supply agreement with the Democratic Unionist Party.
What went wrong? Two things come to mind, the first being Britain was tired of these elections, first the General Election in 2015, then the Brexit referendum, and now this General Election. Call it voter fatigue.
But then the second factor is that Labour's Jeremy Corbyn is a nice guy. Voters know he's genuine. Meanwhile Theresa May comes across as disingenuous. Younger voters flocked to Corbyn because of this factor supported by policies that favoured their interests. Key here was their pledge to scrap university tuition fees.
It looks as if May is now something of a lame duck, the vultures will be circling.
What went wrong? Two things come to mind, the first being Britain was tired of these elections, first the General Election in 2015, then the Brexit referendum, and now this General Election. Call it voter fatigue.
But then the second factor is that Labour's Jeremy Corbyn is a nice guy. Voters know he's genuine. Meanwhile Theresa May comes across as disingenuous. Younger voters flocked to Corbyn because of this factor supported by policies that favoured their interests. Key here was their pledge to scrap university tuition fees.
It looks as if May is now something of a lame duck, the vultures will be circling.
June 09, 2017
Guns in Schools
Nanny State again in New Zealand, now guns in schools are a no go.
http://www.stuff.co.nz/national/education/93425398/education-minister-to-shut-down-guns-in-schools-after-army-gave-rifles-to-children
I really enjoyed my time using guns at school. I learnt a lot about them and that comes in handy today. Having the army turn up is even better.
If you agree I suggest you write to the Minister of Education, Nikki Kaye telling her so, no stamp required if posted within New Zealand. Tell National to pull their heads in and stop being so pathetic.
http://www.stuff.co.nz/national/education/93425398/education-minister-to-shut-down-guns-in-schools-after-army-gave-rifles-to-children
I really enjoyed my time using guns at school. I learnt a lot about them and that comes in handy today. Having the army turn up is even better.
If you agree I suggest you write to the Minister of Education, Nikki Kaye telling her so, no stamp required if posted within New Zealand. Tell National to pull their heads in and stop being so pathetic.
June 07, 2017
The Future of Farming
Farming has little or no future. This is bad news for any country that relies heavily on its farmers and I'll tell you why.
To explain this story I'll start by talking about cars. Cars have changed a lot in the last few years, but if you went back to the days of the Ford Model T and took a driver in a time machine to 2008, a hundred or so years later, that driver from 1908 would easily understand how to drive a modern car, automatic transmissions and all.
But twenty years on and by 2028, the car that drives itself will be commonplace, how technology will have changed and what would our driver from 1908 think then? Would that driver from 1908 even know how to order up such a car without first going into the showroom?
What has this got to do with farming? A lot is the answer. Farmers are not like that driver from 1908, they're stuck in the Middle Ages. Even if you brought forward a farmer from thousands of years ago they'd probably still manage to figure things out.
But wait, we are about to enter an era of rapid technological change that will wipe out agriculture. It's called manufactured food. Not primary produce processed in a factory, but food manufactured (3D printed or whatever maybe in your own home, you'll have cobalt, iron and iodine delivered in sacks) from the basic elements themselves. All we are as a species is carbon based, mostly water (two of hydrogen one oxygen), with other minerals chucked in there. We are now on the threshold of manufactured food from those elements, and the quantity will be practically limitless. That's the end of farming.
This spells doom for any country like New Zealand which nearly made it. From the late 1970's to the mid 1980's its Prime Minister Rob Muldoon knew the country had to industrialise or die, but it didn't listen and turned to relying on its farmers even more than it had in the past. The dairying industry is now its top earner. But hang on, you can make milk, and have it any colour you want without involving cows, or water from the mountains, or fields of grass. Manufactured milk can even be clear like spring water itself. This means countries like New Zealand will cease to exist or become poor overnight, or both.
Who becomes rich? Industrialised countries that own the technology that's who.
To explain this story I'll start by talking about cars. Cars have changed a lot in the last few years, but if you went back to the days of the Ford Model T and took a driver in a time machine to 2008, a hundred or so years later, that driver from 1908 would easily understand how to drive a modern car, automatic transmissions and all.
But twenty years on and by 2028, the car that drives itself will be commonplace, how technology will have changed and what would our driver from 1908 think then? Would that driver from 1908 even know how to order up such a car without first going into the showroom?
What has this got to do with farming? A lot is the answer. Farmers are not like that driver from 1908, they're stuck in the Middle Ages. Even if you brought forward a farmer from thousands of years ago they'd probably still manage to figure things out.
But wait, we are about to enter an era of rapid technological change that will wipe out agriculture. It's called manufactured food. Not primary produce processed in a factory, but food manufactured (3D printed or whatever maybe in your own home, you'll have cobalt, iron and iodine delivered in sacks) from the basic elements themselves. All we are as a species is carbon based, mostly water (two of hydrogen one oxygen), with other minerals chucked in there. We are now on the threshold of manufactured food from those elements, and the quantity will be practically limitless. That's the end of farming.
This spells doom for any country like New Zealand which nearly made it. From the late 1970's to the mid 1980's its Prime Minister Rob Muldoon knew the country had to industrialise or die, but it didn't listen and turned to relying on its farmers even more than it had in the past. The dairying industry is now its top earner. But hang on, you can make milk, and have it any colour you want without involving cows, or water from the mountains, or fields of grass. Manufactured milk can even be clear like spring water itself. This means countries like New Zealand will cease to exist or become poor overnight, or both.
Who becomes rich? Industrialised countries that own the technology that's who.
June 02, 2017
President Trump and the Paris Agreement
President Trump has it right again, his base will be happy with him pulling the US out of the Paris Agreement. Why should the US make all the sacrifices? I've got no argument with climate science but I do take issue with how the science has been adopted by those who want to see the industrialised world sidelined and then neutered.
It's like this; imagine you've worked hard to own a nice house. Someone from down the road with a much poorer house proposes that you be taxed so you can no longer afford to maintain your house, instead your taxes would go to improve the upkeep of the house owned by the person proposing you be taxed. Does this make any sense? No it doesn't, not at all, but this is the sort of thing these climate agreements demand of the developed world.
We could look it another way. How about we demand that Europe fix the climate solely at their cost? They've cut down their trees over the last few thousand years, put the trees back there Europe. The US is a new country, relatively speaking, why should they bear the burden? Imagine the howls of protest from Europe at the prospect.
It's like this; imagine you've worked hard to own a nice house. Someone from down the road with a much poorer house proposes that you be taxed so you can no longer afford to maintain your house, instead your taxes would go to improve the upkeep of the house owned by the person proposing you be taxed. Does this make any sense? No it doesn't, not at all, but this is the sort of thing these climate agreements demand of the developed world.
We could look it another way. How about we demand that Europe fix the climate solely at their cost? They've cut down their trees over the last few thousand years, put the trees back there Europe. The US is a new country, relatively speaking, why should they bear the burden? Imagine the howls of protest from Europe at the prospect.
June 01, 2017
2017 NBA Finals
I'm picking the Cavaliers to take the series 4-2. I like their talent and hunger. The Cavs coasted for part of the season, hence their poorer regular season but they're much better than that. Meanwhile the Warriors only have Kevin Durant as an extra and in the past he's proven to be Mr Absent when it matters. What do you think?
This is how I think the finals will go (famous last words I know):
Game 1 Cavs [Wrong: Warriors 113 - Cavs 91]
Game 2 Warriors [Right]
Game 3 Cavs [Uh oh, Cavs at risk of going out]
Game 4 Cavs [Only the second time I've been right]
Game 5 Warriors [And congrats to the Warriors]
Cavs 4 Warriors 2 [Got this completely wrong]
This is how I think the finals will go (famous last words I know):
Game 1 Cavs [Wrong: Warriors 113 - Cavs 91]
Game 2 Warriors [Right]
Game 3 Cavs [Uh oh, Cavs at risk of going out]
Game 4 Cavs [Only the second time I've been right]
Game 5 Warriors [And congrats to the Warriors]
Cavs 4 Warriors 2 [Got this completely wrong]