Posted on 12/05/2009 10:18:01 PM PST by bruinbirdman
Governments should increase borrowing to tackle global warming despite the dire state of public balance sheets, according to Lord Stern of Brentford, the former chief economist of the World Bank.
The author of the 2006 Stern Review on the cost of tackling climate change said he was an expert in dealing with tough budgetary constraints and acknowledged that the current public debt was "worrying".
But he believes that the irreversible nature of climate change means that extra pressures on the public balance sheet are justified.
"What I'm saying is that we should be prudent with public finances, but if we were to ask future generations: would you rather have a desecrated earth or more debt, then the answer would be they would like to have more debt," he told The Sunday Telegraph, after giving a speech this week. "You can get out of debt, but you can't get out of the other. It's one of the few cases where there's actually an argument for more borrowing. There's a logical justification to it."
His comments come ahead of the Copenhagen conference on climate change starting tomorrow, where global leaders will put in place plans to keep temperature rises below two degrees celsius by 2050.
The International Energy Agency has estimated that the world will need to spend more than $10 trillion on low-carbon energy generation and efficiency measures by 2030.
But more pressure on Britain's balance sheet would be likely to unsettle the markets, which are waiting to see how efforts to tackle the deficit will effect the country's triple-A credit rating.
Britain's budget deficit jumped far more than expected this autumn, as the downturn cut tax receipts and the UK has boosted spending on public projects and bailing out the banks.
The cost of tackling climate change is likely to
(Excerpt) Read more at telegraph.co.uk ...
This is from The Onion, right?
hmmmmmm
Even a whacked out peace-nik environmentalist who loves hugging trees, I hope, can certainly see that this global warming hoax is just to put huge amounts of money into the hands of the few.
These people are sheer crazy, amounting to being nothing more than doomsday selling snake-oil salesmen.
What is the role of debt in the takeover of world Socialism? A new, world monetary system? This treachery is breathtaking in its speed and scope.
CHeck this guy out on Wikipedia... “Lord” Stern is a leftist flake. Hoe’s a joke and he’s just spounting and shilling for Joke-nhagen...
Translation: I invested so much in phony carbon credit schemes that if they don't bail me out in Copenhagen, I'm going to have debt up the wazoo for the next century...
“This is from The Onion, right?”
No, the world has been taken over by alien MORONS.
Every day I wake up and tell myself that insanity,
Obambie, the UK, the dumb 50 percent of America, and athletes foot has all been sent to Pluto, but then I realize it is only a dream.
Some of these people really need to be Ceausecu’d
The only thing that’s going to happen in Copenhagen is a lot of douchey liberals are going to get laid.
Don’t let the MSM win this.
Show everybody you know (best ClimateGate clips):
alternate translation:
Me and my Climate Mafia globalists are going to be jumping out windows if we don’t pull this scam off, so we need to act twice as arrogant, make the lie twice as brazen, throw in some hysterical panic, and maybe then it will become too surreal not to be believed.
Whaduya say? We just have to get over this little bump in the road, throw all the necessary people under the bus, and regroup.
Dec 4, Al Gore said:
“We have already overshot the safe levels of CO2 in the atmosphere.”
He insisted that the present goal set for Copenhagen of stabilising world emissions of carbon dioxide at or below 450 parts per million — enough to prevent a rise in average global temperatures of no more than 2C — was insufficient and a safer target would be 350 parts per million.
He also brushed aside questions over the reliability of climate science that have followed the publication last month of leaked e-mails between climate experts. He claimed that the scientific consensus around climate change “continues to grow from strength to strength”.
He added: “The naysayers are in a sunset phase with a spectacular climax just before they subside from view. This is a race between common sense and unreality.”
http://www.freerepublic.com/focus/f-news/2399722/posts
ping
Switch from “Fed Credit” to “Social Credit” and it’s not problem.
Otherwise, we’ll be owned.
“Governments should increase borrowing to tackle global warming despite the dire state of public balance sheets, according to Lord Stern of Brentford, the former chief economist of the World Bank.”
And we thought overselling people on cars was unethical! ;-)
Lord Stern of Brentford,
This guy is a babbling idiot.
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