The same people that defend no-growth demand endless public expenditure growth.
Predictions are estimates, not proven facts. Just as economist predictions tend to fail the longer the predicted date, same happens with scientists. Ignoring technology, efficiency and productivity.
Climate alarmism is counterproductive. Generates a backlash against environmental investment and destroys the credibility of otherwise valuable and interesting works.
Most governments do not benefit from technology innovation, energy efficiency, and substitution. Why? Because those are disinflationary factors and they benefit from inflation while creative destruction hurts so-called strategic industries, which they aim to preserve at all cost
1) No contender. Use of other currencies is much weaker. 2) The US Dollar is UP vs most emerging currencies. 3) There is no Gold-backed currency out there
Gold is money. Fiat money is credit.
Thread:
1) No contender: Global use of the USD is highest and rising since 2008. Euro has a redenomination risk. Feel free to substitute the USD.
2) The US Dollar is up vs most emerging market currencies.
Other central banks are destroying purchasing power much faster and worse than the Fed.
The @ecb PEPP program is very different from the previous repurchase programs. It allows the ECB all flexibility and in essence it’s a guarantee for the massive deficits that member states will have (1)
In summary, the @ecb is going to sell euros massively at the same time as the Eurozone trade surplus, that keeps the euro stable, collapses (2)
Risking a massive euro devaluation with economic recession that could lead to years of stagnation, the @ecb bet on a V-shaped recovery is very clear. The eurozone non-euro area export growth has been disappointing and losing market share since the launch of QE. (3)
Economic freedom is the only guarantee of environmental protection. #ClimateStrikes
(Yale & Columbia Environment Protection Index, Frasier Institute Economic Freedom Index)
Open Thread:
Interventionism and socialism have never protected the environment. They always subsidize the most polluting sectors and raise taxes on citizens with the excuse of the weather.
The most polluting industries are state or semi-state owned or managing state resources in countries where economic openness and freedom is minimal. #ClimateStrikes