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.
Jennifer Marohasy BSc PhD is a critical thinker with expertise in the scientific method.
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?
How is it that Bob Brown (no relation) who gets only 5% of the Tasmanian vote gets so much media coverage?
NT
If you can’t tell the difference between the policies proposed by the CEC and those proposed by the Austrian Economic School (Mises.org, and Brooksnews.com, Lewrockwell.com) then you don’t understand economics at all.
So I take it that is a no, Louis?
I don’t claim to understand economics. More of an Earth sciences man…
NT
“More of an Earth sciences man”
pity you failed the tests!
Never mind, try again next year!
The current financial and economic turmoil is a blessing in that monetary reality will kick in and the various fashionable/religious ecomentalist projects will get booted out very rapidly from fast shrinking budgets.
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.”
No kidding. To use a time-honoured political expression, we’re not far from baseball bats on this issue.
But I must confess that there is some ghoulish irony in poor old Guano having to put his case on Black Monday.
We’ve just copped another 4% on the ASX, with Main Street havoc around the corner (let me spell out what that implies: soup kitchens, job queues and people sleeping rough) , and here comes the Professor haranguing us to cough up a lot more on the strength of his dodgy theory.
It’s not going to happen because we can’t afford it. You could say: ‘we’re all Chinese and Indians now’.
How many times has either Obama or McCain mentioned carbon taxes or any of the AGW jargon lately? I heard one mention of climate change by McCain, en passant, in the debate.
NT: “I don’t claim to understand economics. More of an Earth sciences man…”
which explains much 😉
Garnaut; “Things fall apart.” and “There is a chance that they (IPCC) are wrong. Just a chance. But to heed instead the views of the minority of genuine sceptics in the relevant scientific communities would be to hide from reality. It would be imprudent beyond the normal limits of human irrationality. It is prudent to give the major weight to the mainstream science.”
“Genuine” sceptics? As apposed to those fake sceptics. And “the normal limits of human irrationality.” So, being a genuine sceptic is not just irrational, but abnormally irrational. This is not insight; this is ratbaggery of an exceptional type.
” damaged minds laughing at the irony within the mischief that they design.
…. That’s how I see it anyway.”
In other words, it just your opinion, with no evidence to back it up.
Who needs an ETS or alternative energy when we can have a depression. It should works wonders on decreasing our carbon footprint. Russia had its GNP drop by 50% that worked wonders we could reduce carbon emissions dramatically in 12 months. I think I had better plant that backyard garden and get some weapons to defend my household from the destitute roming the streets. Are the Greens behind the collapse it might just produce what they want.
Oh dear; what a mess!
The public purse bails out Wall Street????
Every American has to have their new car? This has to be the worst example of free enterprise gone right up itself that I can remember.
After decades of winding up the credit card our basic financial institutions have gone plastic and now we have their melt down on our hands world wide it seems.
All you right wing goons that wailed for years on here about left wing socialism can lie down now and take your medicine while the public at large considers their options.
IMO greed can be isolated in controlled wards as we go on hey.
Gavin
It has nothing to do with free entreprise and good to learn that you have finally raised your colours up the mast.
I love your term left-wing socialism – it also explains your extreme orthodoxy concerning CO2.
Re the ABC, I heard Tim Flannery state that the main reason that he believed in AGW was “gaia “……. I find it completely absurd that someone who is given so much credibility can actually admit to believeing in Gaianist theory.
“Re the ABC, I heard Tim Flannery state that the main reason that he believed in AGW was “gaia “……. I find it completely absurd that someone who is given so much credibility can actually admit to believeing in Gaianist theory.”
Steve Short said he did. So do all the people who say this is only a limited, natural change we are experiencing. Giai is nothing more than a theory that the current climate state is stable because any long term temperature change is limited in either direction by negative feedbacks, it’s not a literal belief in a goddess that does it for us.
Do you want a comprehensive Internet reference listing of articles by such a Prof Larry Gould, Hartford, Dr David Evans; Dr Timothy Ball, Winnipeg and the IPCC; Dr Vincent Gray NZ on the IPCC, and a host more?
Email me at jmcribbes@bigpond.com for an instant response.
“The proposed $700 billion bailout of Wall Street failed to pass the US Congress last night.”
Shouldn’t this read “The proposed $700 billion bailout of Wall Street was rejected by the US Congress last night.”
Sounds very politically different,,,
SJT can count me in on Gaia too as it’s all about a very complex but completely natural feedback system when left alone. Ancient steps in surface equilibrium are the result of external influences interfering in the local process. AGW on the other hand is as yet the unknown hazard in earth’s history.
Louis; beware , I frequently play the Devil’s Advocate
Gavin
I suppose you regard humanity then as an alien species incompatible with Gaia? Hence the urge to exterminate the species with your CO2 scam?
“SJT can count me in on Gaia too as it’s all about a very complex but completely natural feedback system when left alone.”
Gavin
Whaddya call “left alone”?
Does that include a caveman burning firewood?
At what stage does Gaia start hurling thunderbolts?
“Does that include a caveman burning firewood?
At what stage does Gaia start hurling thunderbolts?”
It happens when it happens, as discovered by research.
Comment from J.Hansford.
“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….”
Actually false. The central problem of economics (ie the one that economics is trying to solve) is that resources are limited. You can bail out junk mortagage backed securities, or you can spend money on “climate change mitigation”, but not both.
This is what Lomborg is on about when he says that the proposed cost of “climate change mitigation” could guarantee uncontaminated water to all the worlds population – so which should it be? Saving lives or being sanctimonious?
http://www.nocarbontaxes.org
“Does that include a caveman burning firewood? What a silly question. Think about it, mankind exterminates itself while roasting chestnuts and periwinkles deep in a cave.
BTW midden hunting was an interest early on. I found most were limited by the cave mouth and ratios of shell to charcoal were about the same. I can guess stoneage gatherers focused more on food than fuel. Can we say the same about the common man in western society today ?
“left alone” is what Congress hopes applies to crazy financiers and investors, also greedy consumers in a free market.
“I suppose you regard humanity then as an alien species incompatible with Gaia” No, I expect humanity to look after both itself and Gaia.
Now that could be the Obama line after considering his plea re helping your neighbours whose house is on fire. Building a fence around your home veggie patch in hard times and grabbing a gun to defend it is the bloody opposite (IMO that’s where some of us differ).
And Gaia – I wonder it its coctails before posting here, or afterwards.
gavin,
“Building a fence around your home veggie patch in hard times and defend it”
Typical socialist thinking on your part, ie. “I don’t lift a finger but I am entitled to the fruits of your labour!”
If everyone, but the infirm, would have a veggie patch, than there would be no need for fences or protection.
Subprime loans and carbon certificates both create counterfeit value out of a fantasy wrapped in virtue. Neither has any hope of a positive return.
Even more serious is the widespread trend right across business, politics and science of the abandonment of objectivity in favour of postmodern rationalization of some imaginary higher purpose. Until this is addressed we seem destined to cycle from boom to bust with each recovery ony providing opportunity to develop another delusion.
Crap Walter crap!
“Even more serious is the widespread trend right across business, politics and science of the abandonment of objectivity in favour of postmodern rationalization of some imaginary higher purpose” etc is just a further example of sour rhetoric
Walter,
You describe the classic business cycle which the Keynesian’s still have not understood. Never will I am sad to say, hence the irrational rhetoric from the intellectually constipated posting here.
“Every American has to have their new car? This has to be the worst example of free enterprise gone right up itself that I can remember. ”
Don’t be an idiot gavin. This is a great blow in favour of capitalism against the crony-communists.
Calm down. Stop thinking about the ultimate destruction of the human race, and get your head into what capitalism (properly considered) really means:
http://graemebird.wordpress.com/2008/09/24/weasals-and-welfare-recipientshenry-paulson-is-the-worlds-slimiest-thief/
Louis Hissink and his mates fiddle while Rome burns .
Jennifer still seems to be a climate change skeptic trying to wring more blood out of an overstressed natural environment ,
as shown by her attitude to the creation of National parks along the Murray River .
Are she and Louis going to issue us all with free museum passes?
The methane clathrates in the arctic have started to melt, which is a purely natural phenomenon and beyond the power of any government to control. Yippee! I don’t have care anymore about whether human activity is changing the composition of the atmosphere 🙂
I’m hitching the ski boat onto the Prado this weekend 🙂 Don’t have to worry no more. Think I’ll airfreight in a few whale steaks for the barbie. Where can I get some DDT to keep the mossies at bay?