China’s environment is in shambles as well as its economy. That’s what political cronyism, privatization, and lack of environmental regulations has caused. Listen to the degree of devastation in China and ask yourself, “If conservatives and capitalists are successful getting rid of the EPA, what are the consequences?” Well, we can surmise that saving $40 billion a year will cost us up to 15% of GDP (just like China). That’s $2 trillion a year. However, it will be very profitable for the politically connected corporations. Even libertarian economists think it’s a bad idea to let capitalists treat pollution as an “externality” and resolve property damage claims in court. Why? The damage has already been done, a litigious society develops, and the conservatives are trying to enact tort reform that restricts our access to the judicial system. It just won’t work. We only hope the United States learns from China’s tragedies.
- Also,the candidates and Wall Street – A discussion about the New York Times article. Why was Clinton given 2/3s of a page and Bernie Sanders only got one small paragraph?
- Also, Egypt announces a big new natural gas find “in the deep waters off its coast”. The problem? The gas field is part of one discovered years ago, it is in Palestinian jurisdiction, and the Israelis seized it in the last conflagration.
American History Minute:
Dog Company of World War II