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Posted by Edenite on 22:21:05 07/02/09
In Reply to: Re: Who's ... the fool who is fooled as he tries to fool... posted by observer
: : : : : : : : : : E:For all of their drooling about change and hope... Obongo and the liberal Democrat chimps are showing NO understanding of the DISASTROUS economic mistakes of the past by REPEATING them...
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: : : : : : : : : : The Biggest Economic Mistake Since The Days Of Herbert Hoover
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: : : : : : : : : : Rep. McClintock gave the following floor speech in opposition to the Cap and Trade legislation on June 26, 2009.
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: : : : : : : : : : I had a strange sense of Deja Vu as I watched the self-congratulatory rhetoric on the house floor tonight, and I feel compelled to offer this warning from the Left Coast.
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: : : : : : : : : : Three years ago, I stood on the floor of the California Senate and watched a similar celebration over a similar bill, AB 32. And I have spend the last three years watching as that law has dangerously deepened California's recession. It uses a different mechanism than Cap and Trade, but the objective is the same: to force a dramatic reduction in carbon dioxide emissions.
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: : : : : : : : : : Up until that bill took effect, California's unemployment numbers tracked very closely with the national unemployment rate. But then in January of 2007, California's unemployment rate began a steady upward divergence from the national jobless figures. Today, California's unemployment rate is more than two points above the national rate, and at its highest point since 1941.
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: : : : : : : : : : What is it that happened in January of 2007? AB 32 took effect and began shutting down entire segments of California's economy. Let me give you one example from my district. The City of Truckee, California was about to sign a long-term power contract to get its electricity from a new, EPA-approved coal-fired electricity plant in Utah. AB 32 and companion legislation caused them to abandon that contract. The replacement power they acquired literally doubled their electricity costs.
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: : : : : : : : : : So when economists warn that we can expect electricity prices to double under the cap and trade bill, I can tell you from bitter experience that in my district, that's not a future prediction, that is an historical fact.
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: : : : : : : : : : Gov. Schwarzenegger assured us that AB 32 would mean an explosion of new, green jobs -- exactly the same promises we're hearing from cap and trade supporters. In California, exactly the opposite has happened. We have lost so many jobs that the UCSB economic forecast is now using the D-word – Depression – to discuss California's job market.
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: : : : : : : : : : M. Speaker, the Cap and Trade bill proposes what amounts to endlessly increasing taxes on any enterprises that produce carbon dioxide or other so-called greenhouse gas emissions. We need to understand what that means. It has profound implications for agriculture, construction, cargo and passenger transportation, energy production, baking and brewing – all of which produce enormous quantities this innocuous and ubiquitous compound. In fact, every human being produces 2.2 pounds of carbon dioxide every day – just by breathing.
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: : : : : : : : : : So applying a tax to the economy designed to radically constrict carbon dioxide emissions means radically constricting the economy.
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: : : : : : : : : : And this brings us to the fine point of it.
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: : : : : : : : : : When you discuss the folly of the Hoover Administration – how it turned the recession of 1929 into the depression of the 1930's, the first thing that economists point to is the Smoot-Hawley Tariff Act that imposed new taxes on over 20,000 imported products.
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: : : : : : : : : : Waxman Markey is our generation's Smoot Hawley. In fact, it's worse because it imposes new taxes on an infinitely larger number of domestic products on a scale that utterly dwarfs Smoot-Hawley.
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: : : : : : : : : : Let's ignore for the moment the fact that the planet's climate is constantly changing and that long term global warming has been going on since the last ice age. Let's ignore the fact that within recorded history we know of periods when the earth's climate has been much warmer than it is today and others when it has been much cooler. Let's ignore the thousands of climate scientists and meteorologists who have concluded that human-produced greenhouse gases are a negligible factor in global warming or climate change.
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: : : : : : : : : : Ignore all of that and still we are left with one lousy sense of timing. In the most serious recession since the Great Depression – why would members of this house want to repeat the same mistakes that produced that Great Depression? Watching how California has just wrecked its economy and destroyed its finances, why would they want to do the same thing to our nation?
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: : : : : : : : : : M. Speaker, this is deadly serious stuff. It transcends ideology and politics. This House has just made the biggest economic mistake since the days of Herbert Hoover.
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: : : : : : : : : : If this measure becomes law, two things are certain.
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: : : : : : : : : : First, our planet will continue to warm and cool as it has been doing for billions of years.
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: : : : : : : : : : Second: Congress will have delivered a staggering blow to our nation's economy at precisely that moment when that economy was the most vulnerable.
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: : : : : : : : : . . . quoting a moron like McKlintcock is really scrapping the bottom.
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: : : : : : : : : I can't wait to see how sad you're going to be when your Henny Penny squawkings don't come to pass. Watching you back-pedal will be great entertainment.
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: : : : : : : : E:You'll die waiting for your shaman hallucinations to become reality Twinker...
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: : : : : : : : ...because I'm continuing to live a productive meaningful happy life ~regardless~ of what happens to the bankrupt socialist parasite ridden Ponzi scam you're dependent on for your security...
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: : : : : : : : ...while Obongo and the liberal Democrat chimps are taking your government "mommie" bus right over the cliff! (lol!)
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: : : : : : : : ...now that's REAL entertainment. ; )
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: : : : : : : . . . the sky is falling, the sky is falling!
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: : : : : : E:Not for me, Twinker...
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: : : : : : ...but your bankrupt liberal Democrat union infested California State government is already falling apart. It's "deadbeat" bond rating is now the lowest in the whole nation... kind of like you. (lol)
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: : : : : : : Now that's entertainment. I'm just patiently waiting to see you prove yourself a fool yet again.
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: : : : : : E:The real fool is you, Twinker... because you are fooled by others just as you try to fool others with your shoddy charade... but then again you can ~only~ prey on those who ~deserve~ to be fooled, so they're just as fair game as you are. ; )
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: : : : : More of the same old b.s. Yawn.
: : : : : Squeak away, Henny. The only one who's listening is you.
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: : : : E:Well, ~you~ obviously are. ; )
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: : : Who was it who posted an article about the Biggest Economic Mistake Since The Days Of Herbert Hoover on the very day that the Dow posted its largest single quarter gain in over a decade?
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: : E:Wow... you're sure stupid, Wesley.
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: : The government doesn't create wealth... it only transfers wealth from those who create it to those who consume it.
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: : Anticipation of inflation caused by unprecedented liberal socialist government deficits can depress a fiat currency's perceived value in relation to equities.
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: : : Talk about a fool being fooled by a fool fooled by an identical ideology!
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: : E:Only liberal Democrat leeches like you believe the lie that the government can create prosperity by increasing taxation in the middle of a recession... which is all cap and trade is.
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: : : And btw, just how stupid is it to "blame" (unjustly accuse) a policy that is the opposite of those tried in the days of Hoover for being the worst mistake since Hoover while advocating a Hooveresque approach yourself?
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: : E:Only a dependent leech like you could believe that government taxation produces wealth.
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: Again, who's the fool? Where did I say anything about the government producing wealth? All I said was that government policies (I didn't say anything specifically or exclusively about "taxation," that's just another of your straw men.) contributed
E:Contributed...?
What a steaming load of Marxist manure, Wesley. Any wealth produced by American Capitalists in the private sector was in SPITE of your pinheaded pencilpushing tax and spend government parasites.
It's no wonder you're a failure at Capitalism.
:to an environment in which an indicator of private sector health, the companies in the DJIA, were able to produce growth of wealth at a rate unprecedented over the last decade.
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