Financial Crash, Not Good for Concept of Carbon Trading
Posted by jennifer, September 30th, 2008 - under News.
Tags: Economics
The proposed $700 billion bailout of Wall Street failed to pass the US Congress last night. Across the world disappointed investors are now fleeing stock markets as the global economy teeters on ruin.
With the likely arrival of more austere times it is unlikely national governments will have a lot of time or interest in environmental issues, including global warming.
The belief that Australia may be somehow immune from hardship because of our mineral wealth and proximity to China is likely to be challenged, along with the idea that we can forge ahead with an Emissions Trading Scheme. Indeed it is resource shares that have been most affected this morning.
During this period of intense market instability, it is likely to be increasingly difficult to justify any additional stresses to the economy particularly one based on the idea of trading a commodity, carbon, for which there is no real market.
Let’s hope that the AGW religion folk in government decide to look at the evidence (that they know is there) and abandon plans to punish the people they are meant to represent by an economy killing carbon (dioxide) tax.
Professor Guano is currently delivering his report - perhaps it might disappear.
I cannot image that Rudd will not pander to the green vote. I expect some form of carbon tax, even with a soft start.
Unfortunately even a token effort will result in higher costs of living and a loss of business confidence.
http://www.nocarbontaxes.org
According to the report in the SMH, Professor Guano has stuck with his message that climate change is real and serious, and that Australia has a lot to lose in not tackling it.
Unfortunately it is not real, and Australia has a lot to lose from a carbon tax.
http://www.nocarbontaxes.org
Booom, Crash, goes the Socialist economy. A grand sound indeed.
Now is the time to start purging the business and bureaucratic world of their Socialist baggage.
AGW and it’s Socialist doctrine will be abandoned. It has to be. It is simply not cost effective.
The AGW computer models have been as useless in foreseeing reality as have the economic computer models….
Reality is too complex to model…. Especially when those doing it are blinkered by ideology.
… Paying for CO2. One of the Lefts most breathtaking, (forgive the pun), follies.
J.Hansford,
It’s the closest they can get to getting us to pay tax on the air we breathe.
Aye…. The left have always been grandiose with their perversity.
damaged minds laughing at the irony within the mischief that they design.
…. That’s how I see it anyway.
Speaking of damaged minds…. Did you see the interview on late line, of Bob Brown?…. Brown even used the term “catastrophic climate change”….. They forge ahead regardless.
No, and it’s catastrophic climate change?
Actually its really the latest millennial doomsday scare - replacing Revelation and the Apocalypse as the agent.
Depends on how well one can insulate oneself from it - Steve Short seems to have solved it.
I’m sure the ABC website would show the interview…. If your stomach could handle it…. urp!
Brown just repeated Gore’s theme that if we can afford to bail out Wall street. Then the Taxpayer can afford to give 700 billion dollars to the cause of AGW….
They live in hope I think!
I don’t think Brown or anyone else on the left understand that the bailout funds are actually future credit expansion - and thus down the track will cause even more grief.
Sadly they are in charge, so it’s going to be an interesting period.
Serious question…
Is this blog a mouthpiece for the CEC?