Tuesday, April 07, 2009

Rex Murphy: The Greens are Ecstatic about the World's Financial Troubles

Are you worried about the current financial crisis? If your name is Al Gore or David Suzuki or Elizabeth May then you're not worried whatsoever. In fact, you're jumping for joy ... but can't express your happiness because you're smart enough to know that some might take it the wrong way.

So goes the recent brilliant treatise from Rex Murphy. Here's a snippet:

Markets are drying up, private wealth is shrinking, the engines of industry are slowing. Layoff notices are going out all over the world. Governments everywhere are leaping into urgent deficit financing on the premise that a stalled or stopped world economy must be buttressed by massive intervention. Such is the emergency that almost every government, of every political stripe, has abandoned the great dogmas that warned of the evils of public debt, and embraced with an almost frantic abandon the opposite mantra: They must spend their way out of the recession.

Is there no light amid all this gloom?

Well, if you are among the great tribe of global warming catastrophists, surely there is. If the industrial economies of the world are in a forced slowdown, if auto companies - the manufacturers of those demonic gas-guzzling SUVs - are facing ruin, if long-standing business are cutting their work forces by 20 per cent and 30 per cent and 40 per cent, if people are buying less and, consequently, business is making less, then surely the entire world's carbon emissions are, per necessitatem, going down. The world is burning less oil, because the world is doing less.

Charles Adler and Lorrie Goldstein discuss the same here @ 7:00.

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