Why does the U.S. Senate harp on budget deficits as “generational theft”, and then refuses to address global climate change?
This is the question asked by Cliff Mason at CNBC. Well Cliff, let me try to address that for you.
Yes, the climate is changing. The climate has always changed. It's nothing new. What was once forest is now desert, what was once dry is not wet. It's a natural cycle of events that happens over geologic epochs.
Evidence that any of the current changes are due to the activities of man are, at best, sketchy. As a matter of fact, there is much discussion that climate change, no matter what the cause, isn't even a crisis. Falling prey to the "We gotta do something!" make me feel better hysteria will probably have no effect on climate change, but will have a drastic effect on living standards world-wide, with the poorest among us suffering the most.
Such is the way of the world.
The actions of our political "leaders" are different. In our name, these fools are borrowing by the hundreds of billions and creating money by the trillions. Given our Gross Domestic Product, there is no conceivable way we can ever repay these debts. Having seen what happens when this much money is created from thin air, we know how it will end. Nothing has changed in economics that gives us any hope of a different outcome.
Such is the way of economics.
See the difference?