"More than ever, the great challenge of our time is economic management" Malcolm Turnbull

New federal Leader of the Opposition, Malcolm Turnbull, is becoming very serious about the economy.

Gone are the factitious comments about inflation, now we are facing "great challenge".
Why we may even have to arrange for the Australian Government to organise a US-style bail out of financial institutions.

According to The Australian:

Mr Turnbull had suggested the Government back financial institutions with liquid assets....

On Sunday Mr Turnbull said banks were finding it harder to refinance mortgages.

``In other markets, the government, particularly in the US, is taking a role, proposing to buy some of these securities, in effect to provide additional liquidity to take the pressure off mums and dads,'' Mr Turnbull told the Nine Network.

``That's something I'd like to talk to the Prime Minister about to see if we can agree on some bipartisan measures.''

Hold on, the only big collapse which sent so many mums and dads to the wall happened when HIH folded years ago and Malcolm Turnbull was smack in the middle of that mess along with Adler and Co.

Yes, credit is drying up as everyone speculates about what will happen next.

However I can't help but wonder if Turnbull's urging of federal government intervention is more to protect the value of his own holdings and that of his business associates.

If a global recession really hits then Treasurer Wayne Swann's intervention will mean little to those same mum and dads.

Turnbull is also quoted as saying in an article at News.com.au:

Mr Turnbull, a former merchant banker and partner of Goldman Sachs Australia, said he agreed with US Treasury Secretary Hank Paulson that there was plenty of blame to go around for the current financial mess.
"I agree with those legislators in the US who say that executives of financial institutions should not be rewarded – indeed they should get nothing out of this," he said.

He goes on to try and distance himself from the present debacle by saying that he only worked in the corporate advisory side and not in an area of investment banking.

How he thinks to get away with such hairsplitting when the whole of Australia knows that he was a managing director, partner and major shareholder in JB Were Goldman Sachs (Australia) during the 1990s through to early 2000, when his investment bank was so clearly in the area he now denies.

Turnbull also pretends that the Prime Minister should not have left Australia because of the global volatility.

This exposes him as a buffoon comparable with the recently departed leader he deposed.

As though where Kevin Rudd physically is this week will forestall Australia being impacted by the ailing American behemoth.

While his Fraser-style obstructionist stance on bills before the House, personal behaviour in Parliament over the last ten months and his comments about Question Time, show him for the arrant political hypocrite that he is.

This man is all about the 'divine right' of the Liberal party to rule, gotcha politics and posturing for the Question Time cameras.

I never thought that I would see the day that I would become nostalgic about Peter Costello's time in the limelight - Turnbull's performance as leader makes me so.

Lord luv a duck! Coon cheese is under attack, again

I have to declare an interest here - I grew up eating Coon cheese and never once made any connection with a racist slur of any sort.

But apparently once Stephen Hagan grew up he objected to this brand name for a cheddar cheese.

The Australian informs us that:

"Mr Hagan said today he would now focus on fighting Dairy Farmers' Coon cheese.

"Initially, Dairy Farmers said it was named after Edward Coon, who revolutionised the speeding process of making cheese," he said.

"But I've questioned the authenticity of that story."

Mr Hagan, said the cheese, formerly manufactured by Kraft, used to have a black wraparound and was named Coon as a joke.

"I want Dairy Farmers to show me the evidence of Edward Coon being honoured an honorary doctorate and what year he received that honorary doctorate," he said.

"If they can prove to me that Edward Coon was a famous cheesemaker, I will drop my campaign.
"If they can't do it, I'm going to fight them all the way...."

Unfortunately for Mr. Hagan, he opened his mouth without even the most preliminary investigation.

It took me 10 minutes to find Free Patents Online and this historical patent; United States Patent US1579196, application filed 27 February 1926, serial number 91,262. PDF image of 2-page original published document.

This patent was taken out by Edward William Coon, a citizen of the United States, of 29 South Water Street, Philadelphia in the County of Philadelphia and State of Pennsylvania, who states he has invented certain new and useful improvements in the process of ripening cheese.

Fulton History displays an image of a newspaper page in August 1923 which has an article reporting that E.W. Coon, maker and shipper of cheese of Philadelphia, had sold five of his numerous milk plants to the Dairymen's League Co-operative Association Inc.

In 1920 Coon was reported as advising other cheese makers to export their mature cheese product as there was high overseas demand.

Steve, mate - it's a case of Occam's pure and simple.

Update:

From Taylor Book:
"DAIRY STATE COLD STORAGE CO." Page 75

"The picture of the plant at the top of the page is of the cheese storage and curing plant. The buildings were originally built by the Reiland Packing Co. It operated successfully for several years under that title. The primary mover in the packing company was Nicholas Reiland, who has been a well known butcher and operated a meat market here. In 1924 the Reiland plant was taken over by E. Coon Company, and after a change in name and owners, became the Dairy State Cold Storage Co. with R. T. Gillespie as manager. The plant is located 2221 Gaynor Avenue."

The above is a factory site possibly belonging to Edward Coon.

In 1918:
Watertown.
The Times says: The Watertown
cheese market was firm on Saturday
when sales of 7,419 boxes were made
at 22% cents and better. As usual
better than the bulk of the cheese sold,
while the "Coon specials" sold for a
cent better th,an all others. The Coon
specials are made-by E. W. Coon,, of
Philadelphia, they are a firmer cheese
with more stock than the general run
of cheese. The price paid was the same
as a week ago, but the offerings were
somewhat smaller as the week (before
the sales aggregated 10,297 boxes.

In 1928:
Official announcement is made of"
the acquisition by the Kraft-Phenix
Cheese Company of several of. the^
larger chese companies of Lewis';
county and northern New York. • \i
These include purchase of the Interests
of R. M. Mills, of Watertown,
the St. Lawrence Milk Company of;
Massena, the Potsdam Creamery Company
of Potsdam, the E. W. Coon
Company of Philadelphia, Pa., and
Cape Vincent. » •.-;;
Sale of most of the companies was.
announced before, but It just became,
known that the Mills interests are included

Monsanto introduces Australian farmers to seed servitude

The Canberra Times reported yesterday:

Australian farmers signing up to grow genetically modified canola are exposing themselves to ''onerous'' obligations, an international law expert says.

Duncan Currie says the contract between biotechnolgy firm Monsanto and GM canola growers bars farmers from selling their land to anyone without a Monsanto licensing agreement.

Monsanto described the claim as ''ridiculous''.

The contract, obtained by The Canberra Times, shows that if the land is sold up to two years after the agreement expires, contractual obligations are passed to the buyer, who could be liable for the former owner's contract breaches.

Monsanto reserves the right to take legal action against any farmers who possess its patented canola without a licensing agreement.

If GM canola is found, the land owner must prove whether its presence was intentional or due to inadvertent contamination.

Under the contract, farmers give Monsanto the right to ''inspect, take samples and test all of the grower's owned and/or leased fields and storage bins'' and to obtain copies of all operational documents for three years after they buy GM canola.

Mr Currie believes the implications for farmers are dire.

''In general this is a very one-sided agreement,'' he said.

''[One provision] is particularly onerous [and] includes liability for payment of Monsanto's legal and attorney fees, including expense incurred in enforcing Monsanto's rights and investigation expenses.'' ......

NSW and Victorian farmers are now harvesting Australia's first GM canola crops after a moratorium on GM crops was lifted in both states earlier this year.

The crops contain resistance to glyphosate, the active ingredient in many non-selective herbicides. A member of the Concerned Farmers Network, Donald McFarlane, said canola crops were hard to contain in one location.

''Farmers of canola will know that it's almost impossible to stop the spread of [canola] seed,'' he said.

''Every year, up to 13per cent of a crop will escape to end up god knows where.''

He was concerned if a farm sold land within three years of planting GM crops, the contract did not ensure the new owner would be trained to prevent crop contamination.

The NSW Farmers Association would not comment on deals between Monsanto and individual farmers.

Its president, Jock Laurie, advised farmers to seek legal advice before signing any contract, GM or otherwise.

Yet another thing that the former neo-conservative Howard Government and the majority of it's State Labor Government counterparts wished on the Australian people.

One has to wonder at the role of the Farmers Association in all this.

Given the fact that prime farmland within 100 kms of the Australian coastline and similar land on the fringes of inland towns and cities is often sold-on or developed for urban-rezoning to supply farmers with a retirement income (especially in areas such as the NSW North Coast), one has to wonder how prospective buyers will feel about inheriting a legal obligation to Monsanto.

Surely this will affect local agricultural property prices and how many 'treechangers' and seachangers' view property on offer.

Joint Select Committee report to Tasmanian Government on GMO seed, crops and food, August 2008, supporting a GM-free state.

Look who is politicizing Bill Caralis' Radio 2GF

This is the man, one Steve Cansdell MP, who appears determined to politicize Radio 2GF as a by-product of the North Coast Nationals drive to place breakfast radio host Richie Williamson in the Clarence Valley mayoral chair.

Why he thinks it wise to advertise the Williamson bid for mayor in this way and, virtually draw attention to the possibility of a conflict of interest which could bedevil 2GF and Bill Caralis in the future, I am at a loss to understand.

The ABC was much wiser when faced with the fact that an on-air employee was elected to Bathurst Regional Council.

Eventually Janice McGilchrist was told privately that it was a choice of her ABC job or being on council - she couldn't have both.

Cr McGilchrist will cease her official duties with council by the end of the week.
Her resignation follows weeks of discussion about a possible conflict of interest between Cr McGilchrist's role as ABC radio's new Central West and Tablelands morning show host and her role as a local councillor.

On 19 May 2006 she resigned from council.

Obama for America - who has a ticket in this lottery?

Strewth! This American presidential election gets confusing.

So many groups for Democratic candidate Barack Obama.

There are Irish-Americans for Obama, Asians for Obama, Muslims for Obama, Ethiopians for Obama, Iranian-Americans for Obama, First Americans for Obama, Native Americans for Obama, Greek-Americans for Obama, African Americans for Obama, Italian Americans for Obama, Non-Americans for Obama, Korean Americans for Obama, Armenian Americans for Obama, Haitian Americans for Obama, Texans for Obama, All Women for Obama and even Republicans for Obama.

The list goes on and on...........

So many people appear to think that they own a piece of this politician that the disappointment will be severe and widespread when he turns out to be a very ordinary president if he gets into the White House.

Clarencegirl tells me that she heard from a well-known Aussie blogger that Obama's 'troops' are even trawling in Australia for the 100,000 Americans here that are eligible to vote.

When I heard that I went hunting and sure nuff, Americans in Australia for Obama popped up on the monitor.

Pic chart found at my.barackobama.com

With friends such as these ...

... who needs enemies?

Previously, members of the Exclusive Brethren in Australia snuggled up to John Howard and his mates when they held the reins of government.

Now, in an attempt to gain recognition from the other side of the politics in Australia, the Brethren are claiming to have an attachment with the Rudd Labor government.

This report comes from the Fairfax website WAtoday.com.au

Brethren are Kevin 07 fans after all

The normally publicity-shy Exclusive Brethren sect has asserted in a rare interview that Labor best represents its conscience, despite repeated stories of it cosying up to and funding the Liberals.

The secretive Christian fellowship has even laughed off Labor leader Kevin Rudd's description of it as an "extremist cult" that breaks up families, an accusation the Christian prime minister made during last year's election campaign.

"I don't blame him for saying that," said senior elder Daniel Hales in an interview with AAP.

"Labor has done well representing the conscience of Brethren members, in fact better than the conservatives."

He cited the freedom for Brethren members not to join trade unions, and Labor's decision not to support what he called Greens leader Bob Brown's "witch hunt" in the form of a failed Senate move for an investigation into the Brethren.

The Brethren's opposition to voting stems from a belief it interferes with God's right to ordain the government of the day, though critics have accused them of giving God a helping hand.

Brethren do believe, however, in taking their concerns to government, which led to meetings with former Howard government ministers from the PM down, including Peter Costello and Tony Abbott.

Read the full report here.

How the 'credit crunch' will hit the UK

'Will one be wanting fries with that?'

Acknowledgement: Clarrie thanks 'Robbo' for passing this one on.