Happy 20th of April – Jared
April 20, 2009 Leave a comment
Nothing of particular consequence worth ranting about today. I registered for classes for the Fall (2 semesters left!) and I’m watching the phones at work and catching up on my reading. I want to recommend this article. Talks about what is happening on Wall Street now. I want to point out the clear mention of what is essentially class warfare and defamation of the rich and the mentions of what exactly, these people do for the US economy. If you can find their economic function you will see why defaming and overregulating them is a horrible idea. Unless you are in to wealth redistribution and not wealth creation. And do not bring up “they’re rich they can pay more”.
Secondly, the revisiting of the cap and trade discussion is looming on the horizon. It is a wasted enterprise practically speaking. The United States can have little or no effect on controlling carbon when China opens enough coal fired plants every three years to power the entire US grid. Or when 80% of the world’s oil is located in a desert where there is no other feasible resource so they will pump it all they want because we really have no control. We are 300 million people in a world with nearly 7 billion. We really do not have that much control. If we do not buy it someone will.
What then is the purpose of cap and trade? Simple. Tax revenue at any cost.