And what is this entire suicidal economic insanity based on?

Voodoo Ecology!

The analysis confirms that cap-and-trade will seriously hamper the American economy and create joblessness by the millions over the next 40 years

Here we go again. So, if – somehow – they were able to make it actually cost nothing Mr. Morrisey would have no objections, even though it curtailed everyone’s freedom of trade?

The model used by CBO, the Oxford Economic Associates model, uses a Keynesian model for short term shocks that move around a trend produced by Cobb-Douglas style production function that generates a trend. First of all, being Keynesian, the shock model does not represent how the economy actually works in the short term and the trend model although well fitting to long term GDP data is largely unconnected to events in the short term model.

In the real world increasing energy costs will reduce the capital stock and suppress the growth rate over time. The Cobb-Douglas generated trend will flatten out and GDP will be no where near it projected 2050 level. If Cap and Trade reduce GDP growth rate from 3% to 2.5%, a mere .5^% the difference in GDP growth will be 18% lower, not 3.5%..

CBO is not deliberately ginning up the data to make Cap and Trade look good. They are prisoner of the model has the right answer mindset. Instead of doing real economic analysis they put their assumptions into the model and let run and then “analyze” the output. I doubt that many of the CBO staff knows what goes on inside this model but ultimately they are in a garbage in-garbage out process. You would think that they would catch on that there is something wrong with the model when they observe that their forecasts go bad after a couple of quarters.

But if CO2 emissions need to be cut by 80% by 2050, could alternate technology really be developed (other than nuclear) which could provide that much energy? Would our industries and offices be as efficient if electricity was rationed, and we couldn’t use computers? What would the GDP per capita become if the population in 2050 used as much energy as the population in 1900? Can tomorrow’s larger population really live in a horse-and-buggy and candelight society?

Of course I like anything French, bien sur.

Bleeds Blue on September 18, 2009 at 2:30 PM

Then do everyone a favor and move to France.

Nuclear is still a good bet & it’s nice to hear you are reasonable on this.
Liking all things French?

I used to live and WORK in France, and there’s a lot not to like, but France does get over 75% of its electricity from nuclear power plants.

If the French do something right, why can’t we?

I think they’re jerks on this matter and I also support nuclear. Of course I like anything French, bien sur.

Bleeds Blue on September 18, 2009 at 2:30 PM

WY & MT coal is actually very clean & hydroelectric is the cleanest power you will ever find. These also provide more energy than wind & soalr.
Nuclear is still a good bet & it’s nice to hear you are reasonable on this.
Liking all things French?
Kinda scary considering they like mob-rule Democracy,oil for food, & have a habit of surrendurin, among other things.

Badger40 on September 18, 2009 at 1:20 PM

I want to ask BleedsBlue how he feels about Kerry and Kennedy teaming up with Romney to kill the wind farm off the Atlantic coast of Mass and how he feels about DiFi and her hard work to kill the solar energy development in the Mojave.

I recommend everybody make a google map of Barstow, CA and zoom out a bit to get a full picture of how insane the opposition is. There is already the Joshua Tree National Park and the Mojave National Preserve, not to mention Death Valley National Park.

Like I said, they don’t give a damn about emissions.

But as long as Californians keep voting for these people, they will continue to get screwed by them. Hey, I guess it’s their free choice.

funky chicken on September 18, 2009 at 1:28 PM

I think they’re jerks on this matter and I also support nuclear. Of course I like anything French, bien sur.

Cap and trade may be terrible for jobs and terrible for the economy in general, but it does do one thing well!

It’s a damned effective wealth redistribution engine.

Surprise!

hillbillyjim on September 18, 2009 at 1:52 PM

Straight into Al Gore’s bank account.

If you care about poor families in the US, you must oppose cap & trade, period. Further, it doesn’t do squat to help the environment, even if you do believe in the religion of anthropomorphic global warming.

Liberals are pathetic. Sorry, I don’t like getting into name-calling, but it’s true. They’re just pathetic.

Next thing you know they’ll be using eminent domain to confiscate private property for wind & solar farms.

ssshhh….quit giving them ideas.

Actually I’m sure they’re working on that.

It’s a damned effective wealth redistribution engine.

Surprise!

Badger40 on September 18, 2009 at 1:35 PM

Heh. You’re a stickler for accuracy :)

Black. The color of death.
PimFortuynsGhost on September 18, 2009 at 1:27 PM

Racist!

Hey, I guess it’s their free ACORN’s choice.

funky chicken on September 18, 2009 at 1:28 PM

I’m thinking this might be the answer to many of our election woes.

Pick any group of living organisms and on the left & can tell you whether they should live or die,
progressoverpeace on September 18, 2009 at 1:27 PM

FIFY.
I got it now….

I want to ask BleedsBlue how he feels about Kerry and Kennedy teaming up with Romney to kill the wind farm off the Atlantic coast of Mass and how he feels about DiFi and her hard work to kill the solar energy development in the Mojave.

I recommend everybody make a google map of Barstow, CA and zoom out a bit to get a full picture of how insane the opposition is. There is already the Joshua Tree National Park and the Mojave National Preserve, not to mention Death Valley National Park.

Like I said, they don’t give a damn about emissions.

But as long as Californians keep voting for these people, they will continue to get screwed by them. Hey, I guess it’s their free choice.

Dave R. on September 18, 2009 at 1:23 PM

Black. The color of death.

Since he is sooooooo concerned about the environment, I really wish he would do the honorable thing and permanantly reduct his carbon footprint.

Genetic variants of species exist everywhere bcs they genetically & phsically adapt constantly to their environments. It does not mean they have to save every single different genetic combo they find.

Badger40 on September 18, 2009 at 1:20 PM

Blasphemer! The left knows better than evolution. Sure, the left screams about teaching evolution in high schools, but they have never seen an evolutionary pressure they don’t know better than. Pick any group of living organisms and the left can tell you whether they should live or die, and how many humans need to be sacrificed in order to bring the desired results. The left believe that all of the Earth should be run by Central Committee – the Utopian Nightmare.

taxing consumption would be better than the myriad taxes that get levied currently.

ernesto on September 18, 2009 at 1:12 PM

I don’t think taxing anything that is necessary to live & produce is a good idea.
The govt has no business taxing the pen I use, or the food I eat (only some states) or my estate when I die.
It’s all stealing & it has to stop.

Bleeds Blue on September 18, 2009 at 12:41 PM

Dude, seriously, what color is the sky in your world?