Thursday, 29 July 2010

A little rumour from Reuters

Have the Chinese just bought out Britains power grid? From a rumour of a confidential deal comes the revelation that Hongkong Electric Holdings and Cheung Kong Infrastructure Holdings have purchased three Electricity grids from EDF for a sum quoted at over five and a half billion pounds. One wonders if one of the first things those canny investors will do is sell off those bits of the grid servicing wind installations before the green money train vanishes in a puff of Warble Gloaming.

Britain is broke. It can't afford the 'Green' subsidies any longer, no matter what Cameroid and Cleggsky think. And printing money to quantatively ease the situation will only work for so long. It makes me wince just to think about it.

When I was growing up we were in the middle of the Cold War, and 'Reds were under the bed'. Now it looks like the Chinese, like the Russians, have doffed their collectivist bias and are laughing up and down their commercial sleeves at the old colonial powers. Looks like they have learned that free market capitalism can be wonderful and now own the bed. So unlike the UK and USA, who both seem hell bent on going in the opposite direction.

I dunno. Spend half your life worrying about the 'Red Menace' and you find they've turned into a mirror image of their decadent one time enemies in the West and bought the mortgages. Life; isn't it ironic?

Update: It's official.

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