Diesel Civil Trust

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Is the US becoming ungovernable?

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On today’s Planet Money: Adam Davidson chats with the intrepid David Kestenbaum about both the theatrics and real policy debates going on at the current climate conference in Copenhagen.

Does anyone believe the average American family will pay $20/ton of carbon? Emphasis mine.

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The USGS estimates that there are 85.4 trillion cubic feet of undiscovered, technically recoverable gas from natural gas hydrates on the Alaskan North Slope. This is the first-ever resource estimate of technically recoverable natural gas hydrates in the world.

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As the old joke goes, an economist and two dollars will get you a nice cup of coffee. Russ Roberts, George Mason University economist and host of EconTalk, explains why he thinks is economics is an imperfect science.

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The Economist’s deputy editor on ways to address climate change and why it must be dealt with globally or not at all.

Really listen to this podcast—listen to the tone of the speaker’s voice and what she’s saying. It smacks of a global enforcement body, because democratically elected officials have a “short shelf life.” Emphasis mine.

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Economists see climate change as a tragedy of the commons problem. We benefit by putting carbon into the atmosphere because it means cheap electricity and cheap gasoline. In the short term, we save money but eventually if we continue, we’ll all suffer. Nobel prize winner Elinor Ostrom says the answer to fixing rising temperatures has to come from the people not the government. But reducing our carbon emissions is expensive and some economists wonder if we’re willing to pay for it. To answer that question, German zoologist, Manfred Milinski come up with a game that tests how much we would be willing to pay now to save the Earth later. Joined by a special group of NPR staff, the Planet Money team plays his game and get a surprising result.

This goes back to my point yesterday that opinions (or theories) being espoused as fact are in fact, conjectures. Emphasis mine.

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Our (The Economist) economics editors in Washington present plans for dealing with America’s fiscal hole. Tax reform is a good start

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I thought I knew how credit expansion worked—until I listened to this podcast. The subprime mortages, easy credit and the real estate bubble are all in sharp relief. Emphasis mine.

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When the government created the Medicare system in 1965, they were so desperate to get doctors into it that they allowed them set their own fees. The fee for service system was good for doctors, who now got paid for giving health care to the poor and elderly, but bad for the government. The crushing weight of doctors fees soon sent government budgets out of control.

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A Mises Institute presentation from this past October, questioning Ben Bernanke’s (lack of an) exit strategy for the current fiscal policy.

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A lot of folks want to know who’s to blame for the Great Recession. Investment manager Liaquat Ahamed says he knows who’s to blame for the Great Depression.

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Ron Paul discusses the Fed Transparency Bill. Though it was shot down in the Senate on a technicality by the ruling party, the rationale is solid and will find its way into future fiscal policy considerations. Description mine.

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When most Americans think about financial collapse, they flash back to the Great Depression. The Germans are haunted by another ghost — hyperinflation. As countries around the globe pump money into the world economy to try to fix it, fears of inflation are once again growing. Josef Joffe, editor of Die Zeit, explains why history is still haunting German chancellor Angela Merkel. Plus: these days even safety net jobs are hard to come by.

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This podcast has a European angle, but listen to the contempt present and the underlying message that Americans deserve to pay, a lot, for energy and a questionable climate change policy. Emphasis mine.

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Ryan Avent had a great job, writing for the Economist’s Free Exchange blog. Not quite two weeks ago, Ryan Avent got lured into another terrific opportunity: blogging for Portfolio. Which today announced that it was shutting down.

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