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View Full Version : Borrow to the hilt to stop global warming, says Lord Stern



megimoo
12-06-2009, 04:36 AM
Copenhagen climate change conference: Borrow to the hilt to stop global warming, says Lord Stern

"It's always been about the money,U.S. Money !"

Governments should increase borrowing to tackle global warming despite the dire state of public balance sheets, according to Lord Stern of Brentford, the former chief economist of the World Bank.

snip

His comments come ahead of the Copenhagen conference on climate change starting tomorrow, where global leaders will put in place plans to keep temperature rises below two degrees celsius by 2050.

The International Energy Agency has estimated that the world will need to spend more than :eek:$10 trillion:eek: on low-carbon energy generation and efficiency measures by 2030.

But more pressure on Britain's balance sheet would be likely to unsettle the markets, which are waiting to see how efforts to tackle the deficit will effect the country's triple-A credit rating.

Britain's budget deficit jumped far more than expected this autumn, as the downturn cut tax receipts and the UK has boosted spending on public projects and bailing out the banks.

The cost of tackling climate change is likely to be a vast expense over the next decade, with estimates from Ofgem, the energy regulator, and Ernst and Young, the accountants, agreeing that it could cost Britain £200bn.

The Government hopes that much of this will come from the private sector, eventually passed on to consumers through more expensive energy bills, airline tickets and manufactured goods. But so far, market mechanisms such as carbon trading have failed to deliver enough incentives for utilities and heavy industry to lower emissions.


http://www.telegraph.co.uk/earth/copenhagen-climate-change-confe/6738008/Borrow-to-the-hilt-to-stop-global-warming-says-Lord-Stern.html

AmPat
12-06-2009, 12:47 PM
As soon as the rest of the world empties their nation's treasury, we'll think about it,,,,,,,,,,,,,,,,,NOT!:mad:

sgrooms
12-06-2009, 03:40 PM
This global warming bullshit has got to stop.

We can't afford to borrow money.

We can't afford to pay higher electrical rates.

We can't afford to support cap and trade.

We just can't afford this administration.

Eagle
12-06-2009, 04:01 PM
N ot gonna happen.

Big Guy
12-06-2009, 04:13 PM
Iím not even close to a mathematician so just humor me. This is about a concept, not about my poor math abilities.

I find it hard to believe that one can borrow themselves out of debt.
If I were to borrow $10,000.00 at 12% interest and just get loans to pay it off this is what I figure would happen;
12% of $10,000.00 =$1,200.00
If you get a loan to pay that off;
12% of $11,200.00 = $1,344.00
Get a loan to pay that off;
Now you owe $12,544.00
and so on, and so on,.........

On top of this stupid method, income is on a decline. At some point the bottom comes up and takes you out.

AmPat
12-06-2009, 04:17 PM
Iím not even close to a mathematician so just humor me. This is about a concept, not about my poor math abilities.

I find it hard to believe that one can borrow themselves out of debt.
If I were to borrow $10,000.00 at 12% interest and just get loans to pay it off this is what I figure would happen;
12% of $10,000.00 =$1,200.00
If you get a loan to pay that off;
12% of $11,200.00 = $1,344.00
Get a loan to pay that off;
Now you owe $12,544.00
and so on, and so on,.........

On top of this stupid method, income is on a decline. At some point the bottom comes up and takes you out.
You have to add DUmmycRAT logic to the equation you nitwit. Once you go down this "progressive" math road, you have to remember to print more money. The money isn't worth as much but you have more available now because you had the forsight to print more. Geesh, can't you keep up?:rolleyes:

Big Guy
12-06-2009, 04:30 PM
You have to add DUmmycRAT logic to the equation you nitwit. Once you go down this "progressive" math road, you have to remember to print more money. The money isn't worth as much but you have more available now because you had the forsight to print more. Geesh, can't you keep up?:rolleyes:

Forgive me, my printing press is broken, waiting for my loan to go through. :D