OpenEurope’s Daily Update today provides a helpful reminder about as timely as the juuust-post-election news seeping from the Fed:
Obama drops cap and trade for carbon emissions
Following the US mid-terms, AP reports that US President Barack Obama has dropped cap and trade plans to limit global warming gases, quoting him saying that “Cap-and-trade was just one way of skinning the cat; it was not the only way.” According to Europe Online-Magazine Rainer Bruederle, German Minister for Economy and Transport, has warned the EU that implementing new environmental goals without international cooperation will be harmful to economic growth. (emphasis added)
Aww, and I had so been convinced by those claims that being the ‘leader’ at this faddish twist on central planning, something the rest of the world is smart enough to stand back from while encouraging you to do, would lead to untold riches! That was the pitch to block the failed Prop 23 in California. Cali, can you hear me (or him) now?
Don’t worry, we’ll make it up with the poll-tested switch to Plan B for ‘skinning that cat’, the ‘clean energy economy’ agenda, which translated means massively expensive temporary jobs called ‘green jobs’, which only exist so long as the half a million dollars per temporary job, or more, are then continuously taken from Peter and given to Paul (working out real well so far, California? Sorry, but…told you.). And we’ll make that up in volume, surely.
Obamanomics, ladies and gentlemen. And further evidence that California can not reasonably expect a federal bailout once the chickens of either cluelessly tone-deaf, unhinged or defiant gesture politics finally roost. Sure, we share a currency. But Uncle Sam will be too busy standing in line for the same thing.