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April 2023

What stock market fun

So CXApp jumps 345% in a day. OK, fun stuff.

Then people remember that Inpixon used to own CXApp. So Inpixon jumps 100% because of course there must be some residual shareholding, right?

Except the CXApp stock got distributed to Inpixon shareholders of the date 6 March. So, err, they’re all gone.

Now call me Mystic Meg if you like but I predict a certain fall in Inpixon shares……

This sounds terribly difficult

We’ve spent the last century and a half pumping carbon dioxide into the atmosphere, and it’s clear that we’ll have to spend the coming decades removing a significant fraction of that.

But then what do we do with it all? Some people are proposing pumping it underground. Others think we can make things from it, including liquid fuels and concrete. Problem is, those are pretty low-margin opportunities today. One startup thinks the answer is to turn carbon dioxide into protein.

That company is getting a shot to test its thesis at scale, TechCrunch+ has exclusively learned. NovoNutrients will be building a pilot-scale plant with help from a $3 million technology and investment deal from Woodside Energy, one of Australia’s largest oil and gas companies, which has begun dipping its toes into the carbon capture waters.

Umm, grow plants with it?

Snigger

Mr. Chakrabortty:

Something strange is happening in the heart of London, something an entire generation has never witnessed. You see it by piecing together the news ignored as too small by the big media and reported only by the local journalists covering their particular boroughs. So try these snippets.

Last week, Lambeth announced that a secondary school founded in 1685 will close for good this summer, with its students farmed out elsewhere. In Camden, St Michael’s primary will not even make the end of the school year – it closes this month, the fourth in the borough to go since 2019. Days before the Easter holiday, Hackney warned that two of its primaries are likely to fold and another four may have to merge to survive. Neighbouring Islington is considering closures, while Southwark believes 16 primaries are at risk.

And it’s Tory Bastards who are denuduing London of children because capitalist housing.

Guess the thing he doesn’t even think to include? Yep. The national birth rate sank 20% or so between 2010 and 2019 – makes a hell of a difference to the number of school places required, no?

Tosser.

This is also fun:

The families going missing are those who can no longer afford to buy or rent. Parents such as Louise Ellery, who rents from the Peabody housing association, a charity set up to provide shelter for the “artisans and labouring poor”. Yet she has seen her rent go up and up, along with her other bills. On her phone, she shows me the bank statement: £1,400 a month for her two-bed flat, which many London renters might consider a bargain. But her salary as a school teaching assistant nudges just over £1,600. For the rest of the month she has to feed, heat and clothe her two kids on that wage, a little bit of benefits and the occasional helping hand from a relative.

The relatives include the father(s) of those two kids? If not why not?

No, no, it’s the *Republicans* who are the fascists, Hater!

Fascism is an autoimmune disease. Under the banner of patriotism it hates its nation and people and oversteps all civilized limits in its zeal to bring about fundamental change, whatever the damage.

Well, yes, now consider American political life. There’s one lot who are – roughly enough – stating that most things are or were recently about OK and perhaps we should concentrate on the occasional detail to possibly make them better.

There’s another lot rioting in the streets demanding that the entire system is rotten and that absolutely everything must change immediately because racial justice, saving Gaia, equity and the iniquity of the system.

Now, who is the autoimmune disease here? We’re sure it’s the Republicans, are we?

And?

Women and non-binary producers and engineers were “vastly underrepresented” in 2022’s most popular music, according to a new study.

The inaugural Fix the Mix report found that women and non-binary people claimed less than 5% of the tech credits for the most streamed songs of 2022, making up 187 of the total 3,781 credits on the 757 songs surveyed.

Seriously, so what?

Men are distinctly underrepresented in nursing. And?

I just found out something

Opinion
Shopping
Do you suffer from shop blindness? I’ve struggled to locate coconut milk for years
Adrian Chiles

He’s married to the editor. Explains the stunning joy of his articles.

Quite why someone on £600k a year needs to provide a pocket money (hmm, at a guess, £60k a year perhaps) job for hubbie is unknown…..

Werl, if you don’t pay women then that’s sexism, see?

The Irish Rugby Football Union has been likened to an “old boys club” after a damning investigation by Telegraph Sport uncovered an alarming amount of sexism towards its women’s team.

Scrutiny has intensified over the IRFU’s severe lack of support for its female national side at a time when its men’s team are ranked No1 in the world and among the favourites to win this year’s men’s World Cup.

Andy Farrell’s players capped off a fairy-tale Six Nations campaign last month by winning a Grand Slam in Dublin, with Ireland’s men’s Under-20s repeating the feat the day after.

England, Wales and Scotland have all professionalised their women’s teams but the same cannot be said of Ireland, who are the only team in the Women’s Six Nations who failed to qualify for last year’s World Cup.

Women must be paid. Remember that in all interactions…..

Hmm, well

Channel 4 ‘body positive’ show where adults pose nude in front of children receives almost 1,000 Ofcom complaints

Interesting how the definition of “child” changes.

Naked Education aims to tackle taboos around body image for young people, with participants stripping naked on air in front of 14 to 16-year-olds.

When it’s votes for the young and ignorant then 16 years olds are a vital part of our collective future.

When it’s take drugs and chop bits off then 15 years olds are knowledgeable, wise, ones.

When it’s see what a human body looks like they’re children to be protected.

Fun, eh?

Well, you can say one thing for Old Rupe

The billionaire media mogul messaged his fourth wife to say: “Jerry, sadly I’ve decided to call an end to our marriage,” according to an explosive profile in Vanity Fair magazine.

It is also alleged that when Ms Hall moved into the Oxfordshire home she was given in the divorce settlement,

At least he did marry her and at least there was a divorce settlement. Instead of Mick’s insistence that a Hindu service on a beach wasn’t, in fact, a marriage.

Oh

Twitter is nearly breaking even financially with satisfactory growth.

Twitter is down to 1,500 employees (from over 7,500)

Wasn’t it losing money with 7,500?

This is why Sustainable Cost Accounting is such a lousy, crappy, really shit, idea

This is according to a new plan they have, apparently, published this morning.

Please forgive my cynicism but I do not believe them.

There is no evidence that carbon offsets work.

I doubt that significant changes in fuel to save carbon in aircraft are possible.

And I seriously doubt better air traffic management is going to save a lot unless the number of planes in the air declines dramatically and stacking before landing disappears.

This is, in my opinion, an industry in denial. Mass flying and net zero carbon are incompatible. The age of globe-trotting to find the sun is over, and that is what around 90% of all flying is about. We either come to terms with this, or we destroy the chances of human life on earth.

If I never fly again, I will be happy. Not only is there no fun in flying, but the cost is far too high. The result is that in my opinion airlines are carbon insolvent: they will never raise enough funding to make themselves carbon neutral and so cannot survive.

The entire point of Sustainable Cost Accounting is that the auditor – which really means Richard Murphy – gets to declare whether a company is carbon insolvent. And if we have auditors – ie, Richard Murphy – who just declare that because they don;t believe it therefore carbon bankruptcy then we’re going to have an economy limited by R Murphy’s ability to process technological change.

Tht is, not much of an economy.

The actual way to do this is of course to allow folk to try things out an see which method wins rather than depending upon the intellect of a retired accountant from Wandsworth. Or even The Sage of Ely.

As Tesla just pointed out:

Longer distance flights, estimated as 80% of air travel energy consumption (85B gallons/year of jet fuel globally), can be powered by synthetic fuels generated from excess renewable electricity leveraging the Fischer-Tropsch process, which uses a mixture of carbon monoxide (CO) and hydrogen (H2) to synthesize a wide variety of liquid hydrocarbons, and has been demonstrated as a viable pathway for synthetic jet fuel synthesis….

Maybe air travel will be a little more expensive as a result. Maybe the world in 25 years will be a little richer than it is now too. Who knows?

Well, we’ll find out at least, as long as no one ever does implement Sustainable Cost Accounting of course.

Still, we have a task for our newly climate change acceptable aircraft…..come friendly bombs and fall on Ely……

Sigh

Inflation cannot result. Presuming the eventual deal is no more than 10% (and I am being an optimist when suggesting that) there will be no wage spiral. What is more, the NHS does not charge for its services: there can be no price impact as a consequence. In that case, most of the government’s argument falls away.

A wage price spiral is not the only possible cause of inflation. Even MMT says that money printing not back by appropriate taxation to claw back the extra money results in inflation. And if we claw the money back through VAT – say, and why not, after all all do gain from the NHS so why shouldn’t all pay for it? – then that in itself will be inflationary for a rise in VAT is.

Man’s incompetent.

Paying the doctors would not only solve an NHS pay dispute, it might well boost the economy as well

The boost to the economy?

The research focused on the fiscal multiplier effects of medical spending. As the authors neatly summarised the multiplier:

The fiscal multiplier is an estimate of the effect of government spending on economic growth. A multiplier greater than 1 corresponds to a positive growth stimulus (returning more than $1 for each dollar invested), whereas a multiplier less than one reflects a net loss from spending.

To summarise the findings, over a range of scenarios the authors found that this was always the case.

Someone, please, beat him around the head with a basic Econ 101 textbook. The greater the multiplier the higher the inflationary effect of the extra spending.

Sigh.

Not ancient Scottish history at all

A missing link in ancient Scottish history’: on the trail of the Picts
Pictish stones are the relics of a long-lost civilisation, and visiting them in Scotland makes for a fascinating trip starting in Edinburgh then heading north

The Scots are the Irish invaders – modern Scotland is, in fact, Ireland’s colony. The Picts are the oppressed indigenes who should by all that’s good and Holy in modern culture, be handed back control of their own country. The invaders be damned.

Hey, if this is supposedly true of the English then it’s also true of the Irish.

Europeans investing in American banking don’t have a good record

The chief executive of Sweden’s biggest pension company has been fired after it lost £1.5bn in the recent US banking crisis.

Magnus Billing is leaving Alecta with immediate effect, the company said.

His abrupt exit comes after the pension provider last month revealed it had lost 19.6bn Swedish crowns (£1.5bn) on investments in Silicon Valley Bank (SVB), First Republic Bank and Signature Bank, three lenders at the heart of last month’s US banking crisis.

It’s why so much of the German banking system went bust in 2008……

We are all bourgeois now

Recent news indicates that managers now outnumber manual workers across French industry. Over 21 per cent of the working population are classified as managers, as opposed to 19 per cent who are manual workers. The same trend is apparent in Britain.

Much of this shift in work is because of mechanisation and automation. Factories, mines and farms employ far fewer people but use more robots and machines now, often delivering vastly greater output. And economies like Britain’s have moved away from heavy industry towards services.

But the advance of the administrative state is remorseless in all spheres. During 40 years working in and owning companies across many sectors, I have seen a never ending rise of bureaucracy despite the benefits of computerisation. So often it feels as if the actual operations of the business – making and selling goods for customers – are servants of the head office (and the state). Divisions such as HR, IT, finance, legal, training, marketing and so forth have proliferated, while core activities like production, engineering and research and development have too often withered.

What makes it so amusing is that this comes from Luke Johnson. Sure, it’s true and all that. But he’d have saved himself however many tens of million it is if he’d just employed the one competent – or perhaps honest – finance bod before Patisserie Valerie went down the tubes.

Very cute

Yet economists say there is a good chance the IMF’s numbers are already out of date.

“The problem with the IMF forecasts is that they tend to be quite out of date when they come out,” says Andrew Goodwin, chief UK economist of Oxford Economics.

“If you think about forecasters like ourselves, we’re constantly updating our forecasts based on the data that’s coming out. The IMF generally has to draw a line quite a long way before the time they’re released and take the data as it was then.”

Well, yes. As an argument not to take the free stuff from government but buy our private sector produce instead that works very well. The problem here is that macroeconomic forecasts are near always total toss anyway, making private and later no more use than public and earlier.

Lessee now

Early woolly mammoths were fluffy with big ears, study finds

So, elephant things, so big ears. And they’re called woolly, so fluffy, yes.

Science just advances so quickly, doesn’t it?

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