Remaking Post-Covid-19 Capitalism in the West: Lessons for the East

Reposted from Forbes

By Tilak Doshi

As the world emerges painfully from  the lockdown cure that is likely to be far worse than the disease of Covid-19, we are now being sold yet another bill of goods. We are told from almost every quarter that the economic recovery from the pandemic-panic induced lockdowns has to be “green”. Political leaders and mass media editors hitched to the climate change bandwagon cite the well-known if cynical slogan “never let a crisis go to waste” – commonly attributed to former President Obama’s Chief of Staff Rahm Emmanuel.  Politicians and “thought leaders” ceaselessly claim that massive sums of money need to be spent on economic stimulus plans to recover from the self-induced economic coma and that the spending has to  be “sustainable” (aka “green”). Not only will this save us from the “crisis of capitalism” but it is deemed vital for the future of human civilization itself.

Prince Charles – the famous prognosticator of apocalyptic climate change a la Al Gore – said at the opening of a virtual World Economic Forum event that the global pandemic presented an opportunity to “reset the global economy and prioritize sustainable development”. Using very similar language, the founder and chairman of the World Economic Forum Klaus Schwab calls for the “Great Reset” of capitalism. Seeing a ‘silver lining’ in the pandemic which showed how quickly radical changes in lifestyles are possible, he advocates “radical changes” to “create a new economic system” which builds a ‘green’ urban infrastructure.

The calls by Prince Charles and Klaus Schwab for “remaking capitalism” are in lock-step with the stated aims of Christiana Figueres, the former executive secretary of the  U.N.’s Framework Convention on Climate Change. Leading the UN’s climate change juggernaut, she had demanded “setting ourselves the task of intentionally… chang[ing] the economic development model that has been reigning for at least 150 years, since the Industrial Revolution”.

In discussing the EU’s trillion-euro plan for economic recovery from the pandemic, European Commission President Ursula von der Leyen promises to put the European Green Deal “at the centre”. Her colleague and political ally German Chancellor Angela Merkel concurs, “With the European Green Deal the EU Commission has shown the way forward…it is important that recovery programmes always keep an eye on the climate, we must not side-line climate but invest in climate technologies.” Across the English channel, UK Chancellor Rishi Sunak’s £600 billion recovery package to be unveiled next month promises nothing less than a “green industrial revolution”. It will create “green jobs” and supply “clean energy”, consistent with the country’s commitment to reducing greenhouse gas emissions to “net zero” by 2050.

Across the pond, the Washington Post reports that the Democratic presidential nominee Joe Biden is “embracing the Green New Deal’s framework, setting a deadline to achieve net-zero emissions by 2050 and vowing to create a clean-energy economy with new jobs”. Mr. Biden’s support for Green New Deal rhetoric of his party’s left-wing — represented by the likes of Elizabeth Warren, Bernie Sanders and Alexandria Ocasio-Cortez — promises policy proposals including a carbon tax, $1.7 trillion in “green” spending, a ban on oil and gas drilling on public lands, and a carbon tariff on imports.

The developing countries are having none of this. Instead of costly subsidies and infrastructure investments on intermittent and low density “renewable” technologies, they will opt for further investments in an established energy system that has been developed over the past century. Thus, in a scramble to jump start its economy from the pandemic-induced slowdown, China approved nearly 10GW of new coal-fired power generation capacity in the first quarter of this year, roughly equal to the capacity approved for all of 2019. A recent report from the International Energy Agency found that “global approvals of new [coal] plants in the first quarter of 2020 (mainly in China) were at twice the rate seen in 2019”, with a long pipeline of projects under construction. Wood Mackenzie, a consulting company, estimates that there will be a net increase in global coal-fired power capacity this year, with 22 gigawatts of closures in Europe and the US more than offset by 49 gigawatts of plants opening in Asia.

For the billions of people that have newly emerged from poverty in recent decades and are beginning to enjoy the early fruits of economic growth and technological progress across Asia, Africa and Latin America – among the greatest achievements in human history – the West’s ideological crusade against capitalism and economic growth may seem self-indulgent if not altogether grotesque. Policy makers in the poorer countries are fully aware that their economies cannot do without fossil fuels. Available and affordable energy, deliverable at scale, is the sine qua non of economic development. Industrialization, urbanization and middle class living standards are not the curse words that they have become for the West’s left-leaning intelligentsia. They are aspirational goals that can only be delivered by oil, gas and coal which account for 85% of global primary energy supply.

Many developing countries with large segments of the population living hand to mouth have disastrously replicated the strict lockdowns of the West without the capacity to provide the kind of welfare assistance that the developed countries have extended to their citizens. As one of India’s leading industrialists Rajiv Bajaj put it, the country has “…flattened the wrong curve. It is not the infection curve, it is the GDP curve.” The developing countries need a post-Covid-19 recovery plan that focuses on “green new deals” as much as a hole in the head.

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June 10, 2020 6:26 am

“the country’s commitment to reducing greenhouse gas emissions to “net zero” by 2050”

Since climate change is global so climate action also needs to be global to be effective. Climate change is not a national issue and there is no national solution no matter how heroic or how green. It’s global or nothing. This is why the UN is in charge. The problem is that the UN has failed.

Pls see

https://tambonthongchai.com/2020/05/22/climate-catch22/

https://tambonthongchai.com/2020/05/29/how-bureaucrats-lie/

Bryan A
Reply to  chaamjamal
June 10, 2020 10:10 am

For you to be correct, both China and India (and likely every developing third world country) should be held to the same standard as other developed nations and not given a pass to continue BAU until THEY deem it necessary to reduce.

Izaak Walton
Reply to  Bryan A
June 10, 2020 11:32 am

Bryan,
surely the same standard means the same level of emissions per capita. Any other standard is unfair and allows those who started polluting first to continue to do so while the rest of the world lives in poverty.

Bryan A
Reply to  Izaak Walton
June 10, 2020 11:51 am

Emissions per capita is simply a way to skew results in one’s favor, to GAME the system.
Annual tonnage per country is a far better measurement IF Reduction of Emissions is the the desired goal. Especially if a fair portion of your populace can’t access your energy production

Izaak Walton
Reply to  Bryan A
June 10, 2020 2:55 pm

Bryan,
I am not sure why annual tonnage is a better measure than per capita emissions. Do you mean to suggest that Luxembourg should be allowed to emit as much CO2 as the USA or that the USA should reduce its total emissions to match Luxembourg? Neither seem sensible whereas stating that everyone on the earth has the same rights to energy and living standards seems a fairer way to divide up the pie.

Bryan A
Reply to  Bryan A
June 10, 2020 3:37 pm

I mean to say that regardless of per capita gaming of the figures, the USA is producing 5b tons annually and China is producing almost 10b tons of CO2 annually. China is not a developing country (though many of their population are energy impoverished) and as such should be required to make the same cut backs as any other developed country. They are by far the largest single anthropogenic source on the planet.

Izaak Walton
Reply to  Bryan A
June 10, 2020 3:49 pm

Bryan,
China might produce twice as much CO2 as the USA but it has over 4 times the population. Again the only fair way to allocate CO2 cuts is on a per capita basis.
I would like to know how you propose to fairly allocate emissions to two countries
like Luxembourg and the USA when one has 500 times the population of the other?

Bryan A
Reply to  Bryan A
June 10, 2020 8:46 pm

On that I guess we agree to disagree
Per capita only GAMES the truth especially when a one third of your population has no access to fossil fuel derived electricity and another third has only limited access.

Bryan A
Reply to  Bryan A
June 10, 2020 8:58 pm

If you want to use Per Capita figures, then they MUST be weighted by access and availability. Per capita with no access should be excluded and Per Capita with limited access should be counted as 1:4.
Try running China’s 10b ton annual emissions against the percent (40%) of their population responsible for its production to get their actual Per Capita figures.

10b Tons emissions / 450,000,000 active producers = 22.21T per capita

Using non energized or barely energized people to tweak “Per Capita” figures is gaming the system

mario lento
Reply to  Bryan A
June 10, 2020 11:02 pm

Technically Izaak is correct in this argument. I see you are trying to make a different point. But this is not an argument you can win based on the words I see. Emissions per person (if you prefer not to use Latin) is a metric that resolves scale, and makes the most sense if you are discussing any type of measurable related to CO2. That said, I think more CO2 if burned efficiently, is a net benefit. That is an argument worth having.

Bryan A
Reply to  Bryan A
June 11, 2020 5:42 am

It only makes sense if you don’t artificially lower your figures through the addition of people who have no access to fossil generation. Otherwise you’re just playing a numbers game.
If you refuse to see that, you’re in denial of the truth

Bryan A
Reply to  Izaak Walton
June 10, 2020 12:06 pm

BUT I thought that Renewables were Cheaper than fossil fuel energy??? /sarc
Wouldn’t developing nations want the cheapest, most reliable source of energy?

mario lento
Reply to  Bryan A
June 10, 2020 11:04 pm

And that makes sense –I agree!

DonM
Reply to  Izaak Walton
June 10, 2020 12:28 pm

Izak,

Emissions per capita is fair?

Why not on a land area basis?

C’mon man, Monaco has no carbon sinks & you are gonna let them produce as much ’emmisions’ per capita as Mongolia? really? C’mon man.

If you could feel my hairy legs under the water I am sure you would reconsider.

MarkW
Reply to  Izaak Walton
June 10, 2020 4:11 pm

We are told time and again that the issue of CO2 is so serious that we only have years, at best decades to get it under control.

If the situation is that serious then everyone needs to make sacrifices.

Willem69
Reply to  Izaak Walton
June 11, 2020 5:13 am

Well what is ‘fair’?
Do you think for instance Canada should not be allowed to drive due to their emissions in winter? Or that the US can’t buy Chinese products because they are exporting food to Africa?

The whole ‘per capita’ discussion is so stupidly simplistic that it prevents rational discussion, but maybe that is the whole point.

If people were really serious about Climate Change the only two feasible solutions are 1) go nuclear or 2) switch from coal to gas for power generation. This off course leaves vast emissions from metallurgy cement making etc etc which can not be avoided without going back to the stone age.
The whole concept of ‘zero emissions’ or even ‘zero NET emissions’ is not possible, just think about how much raw materials need to be mined, refined, transported and turned into the end product(i seem to have seen a movie about that recently).
I do wonder if one can take a government to court for proposing or even legislating something which can easily be proven to be impossible??

Stay sane,
Willem

Bryan A
Reply to  Willem69
June 12, 2020 7:26 am

Not sure about taking a government to court but you can always speak up this November

peyelut
Reply to  chaamjamal
June 10, 2020 2:02 pm

Peeing into a non-existent Hurricane.

Thomas w Allan
Reply to  chaamjamal
June 10, 2020 3:26 pm

The UN cannot succeed as it has little power. India, China and developing nations will continue to develop their economies with fossil fuels. No amount of renewable green energy by the West can balance that out.

These big proponents of green energy surely must know this so we have to wonder what is their real agenda?

There is a solution. Nuclear energy via these new molten salt reactor designs.

James Schrumpf
Reply to  Thomas w Allan
June 10, 2020 4:19 pm

Molten salt reactor designs mentioned.

Drink!

Pat from kerbob
June 10, 2020 6:39 am

Don’t forget us here in Canada
We’re pretty stupid too, just wait until you see our GND, we are led by professional virtue signallers, anything the EU and the USA dems propose we will inevitably promise more.
And deliver less because that is what our PM Trudeau does best, clown that he is.

Ian E
Reply to  Pat from kerbob
June 10, 2020 7:44 am

Sadly, we in the UK have an even bigger clown in charge (Boris, of course). It may well be a race to the bottom as we watch the dreadful Chinee ascend the mountain and crush the West.

Gary Pearse
Reply to  Ian E
June 10, 2020 11:22 am

Ian my comment to you got misplaced down below. It isn’t as bleak a picture as that you painted.

Phil Rae
Reply to  Ian E
June 10, 2020 11:46 am

I’m hoping Boris is smart enough to realise that anything related to such NGDs is just a scam. However, you never know with Boris – he’s a smart guy (despite outward appearances) but shows some worrying signs of a desire to pander to these Eco-nuts with their strident calls to decarbonise the energy supply. He is apparently introducing more subsidies to boost electric car uptake in the post-CoVid period! If his idea of being helpful is to make taxpayers and energy consumers pay part of the price tag for rich people’s toys, I have serious doubts about his grasp of the problem!

Julian Flood
Reply to  Phil Rae
June 11, 2020 12:16 am

Well, his relaxation of the Cv19 rules involved nannies, tennis and golf. I was surprised croquet and polo were not prioritised.

To reboot the UK economy, reduce energy prices. If only the UK had vast reserves of an easily distributed low carbon fuel.

JF

Eamon Butler
Reply to  Ian E
June 11, 2020 4:27 am

Similar idea here in Ireland. Negotiations to form a new Gov. (elections were last Feb.) are being held up, as a three way split includes the greens(7% of the vote). We are supposed to establish a way of reducing emissions by 7% per year. To do so, will destroy our Agriculture, which is huge. So it is viewed as an attack on rural life. That’s not going down well with the rural Reps.Last time greens were in coalition, they caused a lot of damage. Many of us still remember.

old white guy
Reply to  Pat from kerbob
June 10, 2020 11:42 am

I have a lesson for the west, shut down all climate change communists, period. Start living what little is left of our pathetic lives and ignore all government mandates.

John Wilson
June 10, 2020 6:47 am

A smart country would use this opportunity to invest in significant fossil fuel infrastructure providing them with a huge competitive edge over other western nations going forward. But alas I live in Canada and it is our governments intention to commit industrial, energy and financial suicide over the next decade.

Robertvd
Reply to  John Wilson
June 10, 2020 8:37 am

You don’t understand . It is The Great Leap Forward with the new Green(on the outside) Book. The Climate Jugend and the Green Shirts will lead the way.

Al Miller
Reply to  John Wilson
June 10, 2020 9:05 am

John: I once lived in a smart country, but alas I reside in Canada which has lost it’s collective mind. The only thing that gives me the strength to carry on fighting these lunatics is the hope that my children won’t fall victim to the evil perpetrators of the green lies and live in a green hell.
I agree with Ian we are in a race to self destruct and hand over all to the self entitled morons at the UN and possibly worse, China, who are so obviously concerned with our environment (sarc)

Tiger Bee Fly
June 10, 2020 6:48 am

The ideologies and agendas of our “thought leaders“ is far worse than merely grotesque and self-indulgent. It is suicidal – which is entirely the point. This is why they identify with and support Antifa: like them, they really want to burn it all down.

Except their own gated and guarded dachas, of course. Scum (I seem to find reason to use that word a lot lately)!

john
Reply to  Tiger Bee Fly
June 10, 2020 6:59 am

I wish Carlin were still here to discuss the current situation.

George Carlin on some cultural issues:

https://m.youtube.com/watch?v=YLuZjpxmsZQ

I can appreciate it all, especially after the 11 min mark.

john
Reply to  john
June 10, 2020 7:18 am

George Carlin: Saving the planet.

https://m.youtube.com/watch?v=7W33HRc1A6c

MarkW
Reply to  Tiger Bee Fly
June 10, 2020 7:50 am

Suicidal means they want to kill themselves.
They don’t.
It’s always other people who need to die for the cause.

Tiger Bee Fly
Reply to  MarkW
June 10, 2020 9:39 am

I just meant the suicide of western civilization, but yes, you’re absolutely right.

MarkW
Reply to  Tiger Bee Fly
June 10, 2020 10:01 am

They don’t view themselves as being part of western civilization. In their minds, they are superior beings who are above such things.

Robertvd
Reply to  Tiger Bee Fly
June 10, 2020 9:42 am

Just puppets. Start looking for the wizard behind the curtain. Who destroyed the US economy. Who destroyed your savings. Who made you a slave. Who really is in power.

We are all fighting the wrong enemy.

meiggs
Reply to  Robertvd
June 10, 2020 2:00 pm

Stupid is as stupid does.

LetsGoViking
June 10, 2020 7:19 am

Two words: China, Tianxia (All under Heaven)

They seek the overthrow of the Western world and play a very long game. They have had a lot of practice.

John Tillman
June 10, 2020 7:19 am

Does Britain really want to endure a Schleswig-Holstein-Sonderburg-Glücksburg dynasty? Time for another Glorious Revolution.

Gordon A. Dressler
June 10, 2020 7:58 am

Keep in mind that any GND plan must have, at its heart, a socialist agenda.

If any GND is to “remake” the energy sector of any nation to focus on so-called “renewables” at the expense of shutting down existing FF-based energy supplies, this will involve trillions to hundreds of trillions of USD-equivalent infrastructure “investment” and direct labor expenses. Obviously, this money will not come from the poor, but from the “rich” . . . so there will have to be wealth redistribution from the rich to pay for what is CLAIMED to benefit both the rich and the poor. What the “rich”—and that will likely have to include at least the top 50% of income earners—have to pay out as forced taxes to enable a GND plan will be removed from their ability to invest elsewhere. And since there will necessarily have to be government bureaucracy to control the vast sums of money involved, the INEFFICIENCY of use of GND funding will likely be in the range of 30-50% of that achievable under straightforward, competitive, capitalistic management.

In today’s world, many of the “rich” are able to vote with their feet . . . so there is a worry that police-state tactics will have to accompany carrying out a GND agenda in any given nation. That is, “wealth confiscation” is consistent with being a hidden agenda within any GND plan.

This not-so-hidden agenda would be consistent with what Prince Charles, Klaus Schwab, Christiana Figueres, Ursula von der Leyen, Joe Biden, Elizabeth Warren, Bernie Sanders, AOC and other pompous asses would like to see happen.

Robertvd
Reply to  Gordon A. Dressler
June 10, 2020 9:05 am

Since the enactment of the (not)Federal Reserve The US is a centralised controlled economy. They took away the power of the people by controlling the money supply. It doesn’t matter who you vote in office the money printers control.
There can be No Free Market/Capitalism in a Central Bank controlled system. Therefore there can be no freedom when power is in the hands of the wizards behind the curtain.
It took them less than 100 years to destroy the Dollar and the economy . It has never been about the climate or the blacks or gender or whatever other tool to divide the population it has always been about Big Brother control. The protesters are fighting the wrong enemy.

yirgach
Reply to  Gordon A. Dressler
June 10, 2020 9:08 am

I’m sure that part of the GND will be currency controls to make it more difficult to take your money with you when you leave. Another option is to convert cash into gold bullion. In the US, buying or selling US Gold Eagles in any amount does not generate a 1099b form. I’ll let the curious figure out the implications of that when it comes to tax increases and hyper inflation.

Robertvd
Reply to  yirgach
June 10, 2020 9:33 am

That’s already in place. And you already are controlled 24/7. You already live in a prison.

Juan Slayton
Reply to  yirgach
June 10, 2020 9:41 am

In the US, buying or selling US Gold Eagles in any amount does not generate a 1099b form.

I’m not sure where you’re going with that, Yirgach. Precious metals are designated ‘collectibles’ by the IRS and taxed long term at the maximum 28% rate. The taxpayer is required to report profit regardless of whether or not he receives a 1099. Buying bullion does not change the collectibles designation, and a significant problem with buying coins, if you are not into numismatics, is figuring out what they are really worth. You can get burned both buying and selling.

On the other hand, I very much share your concern about what the Green Ordeal folk will do to control the money supply. (Hmm. What I just wrote reminds me that President Truman’s once commented on the need to find a one-handed economist.) : >)

Robertvd
Reply to  Juan Slayton
June 10, 2020 11:26 am

Direct Taxation and the IRS are the problem. They made you a slave without rights. They have the right to know EVERYTHING about you.

yirgach
Reply to  Juan Slayton
June 10, 2020 12:44 pm

AFAIK, the lack of a 1099 is a back door into/outof the banking system.
Let’s say you wire $100K from your account to your PM dealer who then FedX’s the PM to you.
The bank is not required to file a 1099 on your transaction because you bought US Gold Eagles which are exempt from reporting.
Ditto for selling the PM back to the dealer and receiving the funds back as a wire transfer.

There is also a form 8300 which much be filed if any cash transaction exceeds $10k, but wire transfers, for example, are exempt, because the money is already in the system.

You are of course correct in the requirement to report any capital gain of the transaction.
But overall, less paperwork generates less attention.

See https://www.jmbullion.com/reportable-bullion-transactions-infographic/

Gordon A. Dressler
Reply to  yirgach
June 10, 2020 4:23 pm

” But overall, . . .”

I see what you did there.

Nick Graves
June 10, 2020 8:04 am

I harbour a suspicion that the entire Covid-thing is being exaggerated to provide the perfect excuse for The Great Reset.

It wasn’t Quantitative Inflationary money-printing for a decade that blew up the economy – it was that nasty virus, honest.

So we need a New World Gov’t to sort it all out and ‘save’ us. With that great socialist leader HRH PoW as its figurehead.

I didn’t vote for it…

Waza
Reply to  Nick Graves
June 10, 2020 1:40 pm

My observation is simple – there are too many stupid people in power.
When covid hit, the stupid politicians had to ask their stupid political correct senior bureaucrats that they appointed for advice.
They only saw the possibility of covid being a useful crisis once it got going.

June 10, 2020 8:26 am

The going “Green” is all based on the wind and solar renewable energy hustle to replace base-load electrical generation by coal, gas, and nuclear power sources. A hustle on the middle class road to serfdom that was exposed by the Left’s own Michael Moore film Planet of the Humans. One can only understand ferocity with which the Left attacked their own by understanding that without the wind and solar renewable energy scam on a duped public, there is no other emissions-free path to electricity except nuclear.

The Greentard-ecozealots like The Sierra Club, GreenPeace, World Wildlife Funds get their monies for their staffs with nice salaries and media campaigns from the Green Slime billionaires looking for the big payday of wind and solar. The only way that alliance remains intact is if the public continues to believe the Wind and Solar electrical sources are indeed Green. They of course are not “Green” by any rational engineering-economic analysis, as has been shown here at WUWT many times and now in Moore’s film by showing not just the involvement of crony capitalism, but the very “un-Green” production logistics tail behind wind turbines and solar PV panel production. That was supposed to stay behind the curtain, hidden from the public consiousness. Michael Moore’s free film on YouTube threatens the very heart of GreenSlime’s investments and hopes for ever more wind and solar nonsense by thrwoing back the curtain for all to see in a way that can’t be dismissed as simply “Big Oil” propaganda.

Michael Moore is in a some ways like Michael Crichton was. Moore has star power with the public with name recognition (albeit not nearly as photogenic as Crichton though). And most importantly, both have (had) the ability to produce widely viewed multi-media content and appear on popular TV talk shows with that message that threatens the Left’s propaganda and deception about something very important to the Elitists.

And everything about the Left today is the Cancel Culture. Silence dissent. By any means available.

Robertvd
Reply to  Joel O'Bryan
June 10, 2020 9:52 am

There can be NO Green Deal with a worthless Dollar and the economy in ruins. It doesn’t need much to make the lights go out.

it may look Green but it will be Soylent .

Editor
June 10, 2020 8:40 am

Yes, the chimney of our old building has been damaged and quite a few roof tiles blown off

So obviously what we need to do is raze the building to the ground, dig big new foundations and put up a completely different building which will take immense amounts of time and money and might not even be possible to construct, let alone function as intended

Makes perfect sense.

tonyb

June 10, 2020 9:00 am

Prince Charles – …– said
=========
Charles is the ultimate product of centuries of dangerous inbreeding among the royal families of Europe. Given a simple yes no question, he has the remarkable ability to guess the right answer a full 25% of the time.

Robertvd
June 10, 2020 9:26 am

You live in a very sick country.

https://www.foxnews.com/politics/paul-krugman-professors-demand-top-economist-lose-his-job-for-criticizing-black-lives-matter

Stalin’s russia will look like a holiday park compared with the dictatorship you will soon see in America (and the rest of the West) if we not start fighting back. Remember this is not something new . We have been enslaved for decades by now. Since the introduction of direct taxation you gave away all your rights. Now we just see the next step, the final nail.

Paul Penrose
June 10, 2020 9:46 am

The chattering class has lost it’s collective mind along with a big chunk of the political and media classes. Shutting down large portions of the economy over the fear (so far mostly unfounded) of a major virus outbreak (killing millions), “defunding” and “dismantling” the police so we can have a “police free” future, and finally destroying a functional and essential energy infrastructure in order to replace it with an expensive and ultimately unworkable hodge-podge of “green solutions” (which are neither green or sustainable). They have gone stake raving mad. If the sane among us (of all walks of life) don’t stand up soon and put a stop to this insanity, our civilization is doomed and the future will be one of global suffering and deprivation.

Jeffery P
June 10, 2020 10:16 am

I don’t know public sentiment in the UK, but most folks in the US see Prince Charles as a dunce and a putz.

I believe his mother will remain on the throne until Prince William can take over. Much like notorious RGB, the queen intends to rule from her death bed and beyond (as a head in a royal jar) as long as Charles has any chance of succeeding her.

Gary Pearse
June 10, 2020 10:28 am

Ian, Boris will surprise. You folk are in the process of disentanglement from a continent that has never really understood economics, business, individual freedom and democracy (except the Netherlands with a rich multi-century tradition of international business and, oddly, Austria that produced a number of top economists in the 20th century).

You have a long way to get back and Boris doesn’t want to tip his hand yet. Actually its easy to promise we’ll reduce ourselves to ashes by 2050. This, with 100% certainty, simply will not happen. A more battleworn leadership will be in charge long before then – it has already begun to take charge.

Boris is quirky, like Trump, and disappoints, like Trump on some things, but he has the cojones to right the ship at the right time. He knows who voted him in and why. He, like Trump, doesn’t believe anything is too big to fail, like for example, the entire lefty multi- trillion mess Western economies has been put in. Trump is also going to put on a a political and economic masterclass starting with a shoo-in reelection and economic development program that will be an irresistable inspiration for much of the world.

You do understand, Ian, that the reason capitalism is now under full frontal assault is that it demonstrates that it is so far and away the only avenue to prosperity for humankind, that it is an insurmountable barrier to the bleak, colorless soshulist dreams. With the developing world going for it, with population nearing its peak and prosperity spreading (Bangladesh has over 8% GDP growth, Pakistan 6%. African countries are 3-4%), every year that passes is marking the end of days for this rabid ID*ology.

The world that is going to end in 12 years is that of the global socialist, not a planet that is greening magnificently, and these sad folk know it.

ResourceGuy
June 10, 2020 11:03 am

At a very high level view there is an assumption among the Climate Crusade marchers that a wealthy western world will always be there to tap for redistribution of wealth for the causes and the benefits of other nations. It is the third world, north-south globalist games again with a green hue. Unfortunately, countries go into decline when advantages are lost and elite leaders are clueless on the trend and the causes. Western economies will not go into decline or broke overnight but smaller fractions of the populations will be the gainers in the face of lost goods production followed by lost services through AI and highly competitive online sourcing of services. Ignoring decline in educational quality, competitiveness, and quality of life while focusing on small groups of elite donors and vocal advocacy groups will propel the decline. Most any Chinese and Russian strategist can see this cancer growing with an obvious reward coming with America pulling back in everything except carbon payments. Add in a lot more nukes than currently discussed in the media and you will have a lot of room for regional fireworks and many more HK and Venezuelan exodus migrations.

Gary Pearse
June 10, 2020 11:16 am

Pretty bleak comments all the way down. Absolutely none of this doom is going to happen! This crescendo of rabid left ugly excesses is the chicken-with-head-cut-off acrobatics of the end of days for the Global Marxbrothers Plan. The ’12 yrs remaining to save the Planet from being reduced to ashes’ is really the cri-de-coeur of the extreme left global gov campaigners’ realization of their own impending doom.

The grey folk see that the developing world is going ahead, not only with fossil fuels, but with real empowering prosperity through economic development. Up until now, Global Governance was possible by just taking over the Western Developed Economies. Trump deserves full credit for foiling these plans. Brexit predated Trump slightly, but UK was still contemplating self immolation à la Green Madness. It needed a new, quirky spoiler like Boris and a masterclass in politics and economics by Trump which will come into fruition after his landslide victory in a few months. He already has spawned new blood taking control in several EU countries. Democrats fielding the worst candidates ever has to be from the need to be able to rationalize the drubning they were going to get no matter who the put forward. Yeah, its all over.

David Lilley
Reply to  Gary Pearse
June 10, 2020 1:39 pm

Gary, I wish I could believe you. Do you live in the UK ? We do not have anyone we can vote for to change the country’s direction. All 3 major parties are hook, line and sinker into the man-made global warming story. When the Climate Change Act 2008 was passed, only 5 MPs voted against it. Nothing much has changed since. I don’t think any of the current batch of MPs have got a clue. All they know is that 97% of scientists something something climate change.

The current government is allegedly Conservative, which approximates to the US Republicans. But it is getting hard to tell the difference between them and the other lot as they behave more and more like Labour Lite. Don’t expect Boris to change direction over global warming as his current squeeze is a fully paid up member of the Green Blob. Our current Minister for Business, Energy and Industrial Strategy is going to be chairing COP26 in Glasgow next year.

Nor would it make any difference if one of the major parties did come to its senses. We’ve had three decades of children passing through schools which have brainwashed them into believing that we are heading for Thermageddon if we don’t switch to renewables. No party which told the truth about global warming and stopped the mad rush to ruin would get elected.

Nothing will change in the UK until we start getting regular black outs. By then, the damage to our energy provision will be so profound that it will take decades to repair.

Jeffery P
June 10, 2020 11:18 am

Capitalism saved Western Europe after WW2 (the Mars hall plan). Capitalism created things from artificial light to the iPhone. Market reforms raised billions of people out of poverty.

Has socialism, in any form achieved anything of value? Socialism gave us the Holocaust, the purges, Chernobyl, the Great Leap Forward, the Cultural Revolution and the Killing fields. In other words, socialism was the great killer of the 20th century. This century, socialism gave us Covid-19 and a severe global recession.

So what’s the appeal?

Bryan A
Reply to  Jeffery P
June 10, 2020 12:03 pm

It also gave us
Social Distancing and other Anti-Societal regulations

DocSiders
Reply to  Jeffery P
June 10, 2020 6:07 pm

Power

philincalifornia
June 10, 2020 11:40 am

How’s that capitalism reset going today, you might ask? Nasdaq about to set a big new record?

Orangemanbad ha ha ha. Reset this.

Climate believer
June 10, 2020 12:46 pm

Yes it looks like they’ve all got the same memo, this is a tweet from France’s supreme leader:

“The next world will be resolutely ecological. I pledge. We will build it together. We have a historic opportunity to rebuild our economy and our society on new foundations, to reinvent ourselves, to invest in a low-carbon future.”
bla, bla, bla….

Rebuild our economy (that I’ve destroyed) and our society (that I don’t believe in) on new foundations, (surfdom)

Bravo, bravo, monsieur le président.

Herbert
June 10, 2020 4:13 pm

There is no meaningful “clean energy economy” and there are no “green jobs”.
(I don’t count China’s wind turbines and solar panels as other than traditional manufacture).
As the Madrid University study showed, the advent of a “green job” saw the departure of more than one traditional job.
Indeed it is unclear what constitutes a “green job”.
In Australia, we have Professor Ross Garnaut with his new book, “Superpower: Australia’s low carbon opportunity”.
Sadly, he believes the current mantra of refashioning the economy a la Christina Figueres.

DocSiders
June 10, 2020 6:37 pm

Globalists do not want cheap energy. Cheap energy is conducive to freedom and prosperity.

The managed decline of the US economy has been their main objective…like Bush and Obama engineered by sending all of our manufacturing to China. Trump kicked all that into the ditch and stalled their Climate Change fraud momentum. That’s why they are in a perpetual full court press to be rude of him the last 3 years.

They don’t give a rat’s posterior about the environment…witness the brutal trashing of Michael Moore’s revealing movie. Trashing the environment is just some collateral damage on the road to power. It’s not about the Climate either.

They want power…and their ultimate plans don’t include sharing that power with environmentalists…or anybody else. China CCP rule is the model, except they will be benevolent rulers. What a wonderful world that will be. The Propaganda Ministry will do all the thinking and planning for us. All we have to do is pretend to believe their lies. We are pretty much used to their lies already.

Hoser
June 11, 2020 10:59 am

“Sustainable” translates to stable, meaning keeping those in power now in power forever. It means controlling upstarts with new ideas, preventing those in power now from having to share with anyone they don’t like. Meaning sharing power with anyone who doesn’t offer, those in power now, more wealth and power.

“Sustainable” is the codeword of the Left for socialism, or more specifically, fascism. Fascism is the control of the means of production by govt without taking ownership. The brilliance of fascism is it leaves someone else to blame when things go wrong. We do not have much capitalism left. When big biz has protection from competition by high barriers to entry, huge burdens for regulatory compliance, tax credits for existing friends of govt then new ideas die early on the vine. Capitalism requires competition.

“Stability” is the equivalent codeward of the Right for locking in the existing power structure. It is the hitherto for more palatable description of maintaining the status quo, with the secret meaning of going along with Democrats in substance in order to retain power. When the Democrats take full control, the greedy cowards will be out in the cold. Now we know what Republicans mean when they say they support “stability”, it should make you angry, not comforted.

In many ways there is a false polarization in politics now. Those in power want to keep what they have, they sell the old lines over and over again. We keep biting the baited hook, taking the sinker too. Real capitalism produced the greatest period of fundamental discovery and expansion of new industries ever seen, and not to be repeated. Isolated examples of innovation certainly exist, e.g. the electronics and computer industries, internet, SpaceX. But there was nothing like the period of 1880 to 1910 in America after govt imposed its authority over corporations.

To some extent, that control was needed. Monopolies are typically uncompetitive, and ravage markets and consumers. Workers were exploited brutally. Ground rules need to be established under which all businesses will operate. However, when govt imposes control to the degree govt picks the winners and losers in the private sector, and govt controls crush new competition, that is no longer capitalism. We live in a form fascism becoming more evident with lockdowns violating our civil rights and little we can do about it except defy the authorities.

Thomas Jefferson was right. Ultimately the People decide what is Constitutional. Sadly however, K12 has failed to teach American values, the ideas of personal liberty. Of course, that’s why socialists like Dewey took over education. They want obedient little group thinkers to work in factories. Free thinking was counterproductive.

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