It is difficult to cut through the chaff in trying to work out whether the economy is experiencing a ‘technical’ recession or a ‘real’ recession. It is just as difficult to determine whether unemployment is decreasing, increasing or stabilising. Whilst the latest data indicates a rise in the number of jobs further inspection reveals that most of these are in fact part-time jobs.
This figure will provide little relief for those who are unable to get a secure job for more than a few days a week because of the current economic climate. Pointy-headed bureaucrats do not regard them as ‘unemployed’ but the reality is they are seriously under-employed.
There is a strong view among many commentators that the easing of the unemployment rate in July is a statistical blip on our economic radar. They do not expect the unemployment trend to ease until mid-2010.
However if Penny Wong’s Emissions Trading Scheme is passed by the Rudd Government all bets will be off. The cost of living and the rate of unemployment will skyrocket. We will pay dearly for Labor’s appeasement of the new green evangelists and quack environmentalists who inhabit inner city wine bars and coffee lounges.
According to National Party Senator Barnaby Joyce the inclusion of agriculture in Penny Wong’s Bill will result in her ETS becoming an Employment Termination Scheme.
According to Joyce a single beast, which ends up on our supermarket shelves as steak, roast, mince or sausages, emits about 70 kilograms of methene and according to the Kyoto protocol this has to be multiplied by 21 which means that each beast is responsible for emitting around a tonne and a half of carbon.
Utilising NAB modelling on the price of a carbon permit, a tonne and half of carbon, multiplied by about $50, is equivalent to an additional cost to the farmer of approximately $75 dollars per beast per year.
$75 dollars per beast per year equals no beef industry in Australia! The mung-bean munchers in the green movement will be delighted.
The rest who would like to eat beef, and can afford to pay for it, will be buying it from a country that doesn’t have an ETS.
The price of beef in Australia will be above the price paid in other countries that don’t have a beef industry which will result in you paying better than $100 dollars for a prime cut roast.
Penny Wong and Kevin Rudd are about to transfer our primary producers in the beef, pork, lamb and poultry industries onto the unemployment queue. While this will have no impact on our global carbon footprint it will have a devastating effect on our future unemployment rate.
