The return of big government means that policymakers must grapple again with some basic questions. They are now even harder to answer.
Diesel Civil Trust
The world’s five biggest AAA-rated states are all at risk of soaring debt costs and will have to implement austerity plans that threaten “social cohnesion”, according to a report on sovereign debt by Moody’s.
To all the young people out there;
Click on the title of my blog. It will take you to The Automatic Earth, a blog by a couple of Austrian trained Economists sounding the alarm about the economy.
The baby boomers inherited unparalleled peace and prosperity. They’ve left us diddlyshit.
Read The Automatic Earth.
Their most recent post is chilling. It perfectly captures my own thoughts about the coming generational strife we’re going to see in all Western economies. These guys have been so bang-on from day one.
It is well worth the read. Enjoy!
Ethan Rabidoux
The gold-plated credit rating of the United States — an article of faith across America and, indeed, around the world — may be at risk in coming years as the nation copes with its growing debts.
They’re young, they’re broke, and they pay for organic salmon with government subsidies. Got a problem with that?
International carbon offsets are never short of critics, from both the environmental movement and those who oppose emissions curbs altogether. One of the main barbs is that the credits don’t always represent actual emissions reductions — and two recent events have highlighted this can happen.
More than 10,000 homes a week will be given ‘eco-upgrades’ under Goverment plans to make every home in Britain environmentally friendly.
While President Obama’s push to raise federal income taxes for the wealthy gets lots of attention, the continuing upward creep in the sales tax rates imposed by state and local governments has gotten less notice.
Red Light Cameras: On Whose Authority?
It seems the state of Colorado is exploring putting in more red light cameras. A lot more.
Aside from the issue of entrapment, which is both contentious and open to debate, I have a question no one seems to be asking: “Who among us has granted a private company the legal authority to write tickets and assess fines for these traffic violations?”
I sure as hell haven’t, and I doubt you have either. We already pay taxes for a group of individuals to uphold laws as voted on by the people. They’re called police officers. And frankly, if the issue of red light infractions is so great, we should be increasing patrols in those areas, not installing electronic eyes in the sky.
Drivers behave differently if they think (or know) a red light camera is in use at an intersection. Before I would roll through a yellow with nary a thought. I wouldn’t speed up to “beat the red,” but I wouldn’t slam on the brakes, either. I don’t care to count the number of times I have nearly been rear-ended on account of these devices and their behavior modification.
This issue takes on another, more insidious tenor when you pair the story above with another, national take that says municipalities are shortening yellow lights to increase the number of red light infractions. This behavior ventures far from unethical into downright corrupt for two reasons:
- Drivers’ safety is being compromised because they are taking chances that wouldn’t normally be taken.
- The cameras are being placed strictly for revenue generation, not driver safety.
Private companies are in the business of making money, always have been. By putting them in charge of these devices, are we not inviting systemic abuse? If there is no reproach or legally appointed review of potential infractions, how can anyone be sure they really broke the law? More importantly, if an officer hasn’t issued a citation and a private corporation is trying to levy a fine on public property, is there even a legal obligation to pay?
I encourage you to call, email or Tweet your local representative, America. This is an issue that won’t be going away anytime soon, not with a recession teetering on depression. The only way we can retain our freedom is to challenge those that would encroach on it. And while speeding is hardly a freedom, the right to a day in court or at least a fair explanation of your infraction, by a recognized law enforcement officer, is.
Motorists are well down the road to higher pump prices as warmer weather and the driving season approach.
Be sure to read the part about higher than average US inventories of both crude oil and refined gasoline and the ever-present recession driving down demand. Yet prices keep increasing—how is that? Emphasis mine.
With a deficit rising yearly, many Japanese believe that the heralded budget apocalypse has arrived.
Greece ordered its bankers to exclude hedge funds from a bond offering this week in an effort to punish the speculators it blames for destabilising its debt markets.
We are at a turning point in our history. Too many of us now, tend to worship self indulgence and consumption. Human identity, is no longer defined by what one does but by what one owns. This is not a message of happiness or reassurance. But it is the truth and it is a warning.
Pres. Jimmy Carter, 1978. Michael Moore’s ‘Capitalism a Love Story’ via Real Time with Bill Maher (via brooklynmutt) (via asprettyasasong)
The weekend Washington Post report that Senators Kerry, Graham and Lieberman were now considering a three-part approach to a climate bill wasn’t surprising in some ways - it fits into the cap-and-trade is dead theme that has been talked about quite a lot lately. But it left a lot of questions unanswered.
Be sure to read the part about a Harvard study suggesting we need $7/gal. by 2020 to really make a difference. $7/gal. Emphasis mine.
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