Anthony Rowley at the South China Morning Post asks a good question. It’s the answer he provides that’s rather interesting
As Joe Biden prepares to rejoin the global fight against climate change, who will foot the bill?
US President-elect Joe Biden has promised to go full tilt into action against climate change from the first day of his presidency on January 20.
But, in fighting an impending climate crisis, he and other advanced-nation leaders may encounter an unexpected enemy – a crisis of market capitalism.
The two things are closely connected, but this fact does not appear to have dawned yet on policymakers, investors and others who are raring to go into battle against climate change and other existential threats. Saving the planet is going to cost money, and no one is sure where it will come from.
In round terms, half of the multitrillion-dollar amount needed is envisaged to come from governments and the other half from financial market investors. Just how exactly this latter half is supposed to find its way from private savings into public projects is far from clear.
Um, where is the government getting the money from?
So, unless capital markets can come up with some radical new ideas on how to translate private savings into the colossal amounts needed to save the planet and its inhabitants, and do so quickly, state intervention to bypass markets will almost certainly become necessary.
That’s a mouthful, eh? They’re expecting private firms to take the money they’ve been entrusted with by private citizens to make the right decisions and dump that into Hotcoldwetdry stuff, and, if they don’t, it should be confiscated. Taken away. Think about that. Even you Warmists out there, do you want “state intervention” with your hard-earned money? Money you count on for retirement, for your kids, for whatever?
State-dominated financial systems (among which China’s is by far the biggest) seem likely – by virtue of their ability to marshal savings behind mega social and economic projects – to leave market economies behind in the race to “go green†and contribute to saving life on Earth.
Sounds like they’re advocating a takeover of the U.S. financial systems. Silly me to say this is about politics and not science.
The task needs not just a climate change tsar, such as former secretary of state John Kerry whom Biden has appointed to the task, but also a financial system tsar who can get Wall Street and other financial centres properly focused on the task in hand. That would be a good New Year resolution for Biden and other leaders.
Do you trust Government for this? Do you want the people who buy $750 hammers and fund shrimp on treadmills (insert your own example) do this? Finding creative ways to take your money?
Teach obviously does not really love the USA
It is imperfect
Perhaps if Teach had offered to take a job working for the government things might be better
But of course conservatives balked at doing things like teaching or government service, low pay being one reason