Archive for November, 2009
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The Rush to Cool the Planet
The coming climate summit in Copenhagen has been the occasion for calls to do something quick to reduce carbon emissions. While the issue is serious, the single-minded focus on carbon keeps us from developing a more balanced and inclusive view of climate-altering factors.
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A Crisis Without Exit
A great part of the liquidity created by the ultra-loose monetary policy of the United States is exported through the global financial system, creating asset inflation abroad. Once the economy takes off and imports rise with it, this inflation will be recycled to the US and choke off any meaningful recovery.
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The Economic Break Point
Under both the Bush and the Obama administrations economic policy has been focused on propping up the global financial system. While trillions have been thrown at the banks, the real economy has continued to deteriorate, as evidenced by the rising unemployment numbers.
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The Tax Tsunami
Current policies and programs championed by both administration and congress will produce a massive increase in taxation. This will not only destroy the economy, but could lead to a general taxpayer revolt.
