I began reading this Post through provision of a link by Greg Mankiw. Bauman has many points, always a difficulty in provision of a coherent review, but they revolve around some important elements. I personally believe that the increase in atmospheric temperature has far more to do with planetary oscillation and solar flares than it does to human concentration of greenhouse gases, but who is a Scientist here; I will give ten Brownie points to Anyone who can accurately define the term ‘Scientist’. I drive a big old Pickup which is too old, and therefore care nothing about either Prius or Echo. Methane from Cows always takes a hit, but there is about as much coming from humanity, and it dissipates at a particularly rapid rate; there is even some Thought which suggests that Plant growth would be inhibited because of a lack of said gas. I will not go so far as say that high Smokestacks actually retard fertilizer for plants, though it might make as much Sense as suggesting long-term Gas emissions by humanity can affect Earth’s atmosphere. There is a little more to the story, when you suggest Ocean currents drag an amazing amount of CO2 from the atmosphere; I have suggested almost twice as much as Plant life when considering the entire planet. It only goes to show that I am a unreconstructed rebel, and in serious need of therapy; please let her be young, female, good-looking, and not unduly critical.
I agree with this guy, though Bob Herbert should put a few facts to the equation. The first fact which should be the idea that Bankers, especially Investment Bankers, are not really part of the Production process. Their sole role is to bring finance to Production efforts, and further, to ensure that the Production financing is solidly-based with some degree of certainty that the investment will be repaid. Checking the economic scope, We find that these individuals failed drastically on both counts. We do not need a sensible fiscal policy, We do not need a visionary economic policy, We do not need Consumer Demand incentives even; what We do need is replacement of a proven ineffective leadership of our financial organizations. Americans have lost Sight of the old adage of ‘Fire the Losers’ and even more, ‘Throw out the corrupt Politicians’. A reversion to older American temperament may be all We need; you find the rail, and I will find the feathers and heat the Tar.
I decided to provide this link, possibly because the poor man remembers an old Meatloaf tune. The first thing that need be said is that America will never sell their way out of the slump she is in. Loss of domestic Demand will always exceed foreign sales under the impact of a declining dollar. Economic claims otherwise must be viewed as some degree of idiocy; We need a strong dollar at home to maintain domestic purchases. Abandonment of the greatest Consuming Public in the world is never a Solution, and never will be an optimum movement. The Dollar is going to come back, because foreign nations are in greater danger of losing their Consumption markets than are American companies. Those Consumers in all terms are Americans. Will this always remain the Case?–No! Will American Consumers, on the other hand, ever drop from favor among foreign or domestic Producers–get real! The World needs Us, and it makes the World angry. At the same time, no one needs our Politicians or our Lobbyists; it might be the time for their requiem. lgl