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8 comments on The Bullroarer - Thursday 19th June 2008
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8 comments on The Bullroarer - Thursday 19th June 2008
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The news just keeps getting more interesting.
Take the suggestion that those who live in the outer suburbs, far from public transport are "facing a "fuel-constrained" world in which they have less to spend on other household items as their petrol bill increases" ( http://www.news.com.au/business/money/story/0,25479,23884172-5013951,00.... ). Last year that would have been a wild-and-whacky comment from an extremist sush as James Howard Kunstler ( http://en.wikipedia.org/wiki/James_Howard_Kunstler )
Today it is a matter-of-fact statement from a senior economist at Westpac.
Three years ago I was blogging about this stuff, now I am watching it happen. It almost feels unreal - I almost feel like pinching myself.
Headlines about calls for motorways being cancelled, people cutting back on driving, rail lines overcrowded.... and we won't even discuss the fuel and food riots happening overseas.
It is worth noting that ,as far as possible, I am confining myself to local news stories. So do make sure you look at Drumbeat to see the big picture. I am also finding that there are now so many stories that I cut many - I simply don't bother with stories that are duplicates of previous stories, or stories that are so common that you can't avoid seeing them somewhere else.
aeldric.
'Oh the humanity' as the broadcaster said.
Rule 1: don't put in the charge the people who completely failed to see it coming.
Not all Economists are making accurate pronouncements.
As I mentioned in yesterday's Bullroarer, the No.2 headline above "Oil imports fall as drivers change road behaviour" is completely bogus.
The Australian Bureau of Statistics monthly petroleum import numbers show wide month-by-month variability. The May 07 figure is randomly high and the May 08 figure, while low, does not represent an exceptional downward movement. (Nov 05 was lower, for example.)
Commsec is having a lend of us, for some reason, and the ABC is shovelling it straight through to us.
It is certainly *not* a statistically significant trend of -28%, and does *not* disprove the (as the ABC puts it)
A link to the ABS data is http://abs.gov.au/AUSSTATS/abs@.nsf/DetailsPage/5439.0May%202008?OpenDoc....
Thanks for this observation - it supports some speculation that a friend made yesterday.