Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

The Coming Climate Crash, Lessons for Climate Change in the 2008 Recession
New York Times ^ | June 21, 2014 | By HENRY M. PAULSON Jr.

Posted on 06/22/2014 7:02:26 AM PDT by Oldeconomybuyer

THERE is a time for weighing evidence and a time for acting. And if there’s one thing I’ve learned throughout my work in finance, government and conservation, it is to act before problems become too big to manage.

For too many years, we failed to rein in the excesses building up in the nation’s financial markets. When the credit bubble burst in 2008, the damage was devastating. Millions suffered. Many still do.

We’re making the same mistake today with climate change. We’re staring down a climate bubble that poses enormous risks to both our environment and economy. The warning signs are clear and growing more urgent as the risks go unchecked.

A tax on carbon emissions will unleash a wave of innovation to develop technologies, lower the costs of clean energy and create jobs as we and other nations develop new energy products and infrastructure. This would strengthen national security by reducing the world’s dependence on governments like Russia and Iran.

Climate change is the challenge of our time. Each of us must recognize that the risks are personal. We’ve seen and felt the costs of underestimating the financial bubble. Let’s not ignore the climate bubble.

(Excerpt) Read more at nytimes.com ...


TOPICS: Culture/Society; Editorial; News/Current Events; Politics/Elections
KEYWORDS: climatechange; climategate; cronycapitalists; hoax; tarp; wealthtransfer

1 posted on 06/22/2014 7:02:26 AM PDT by Oldeconomybuyer
[ Post Reply | Private Reply | View Replies]

To: Oldeconomybuyer
The article is so 70s. Dire predictions, catastrophic warnings from the same source as in the 70s - The New York Slimes.

It doesn't matter that none of the 1970s predictions came true. Doesn't matter that humanity did not end in the 80s as predicted. It's all about politics and getting control over America. Science was left at the curb long ago.

2 posted on 06/22/2014 7:06:45 AM PDT by sr4402
[ Post Reply | Private Reply | To 1 | View Replies]

To: sr4402

Once they can control energy, they can control anything.


3 posted on 06/22/2014 7:08:46 AM PDT by IncPen (None of this would be happening if John Boehner were alive...)
[ Post Reply | Private Reply | To 2 | View Replies]

To: Oldeconomybuyer
We’re staring down a climate bubble that poses enormous risks to both our environment and economy.

Hey, dude ... If it weren't for global warming, the area that is now covered by the city of Chicago would be under an ice sheet a mile thick.

Please tell me exactly what temperature the earth should be right now before telling anyone that we all need to take action to protect ourselves and our economy from "climate change."

4 posted on 06/22/2014 7:09:00 AM PDT by Alberta's Child ("What in the wide, wide world of sports is goin' on here?")
[ Post Reply | Private Reply | To 1 | View Replies]

To: Alberta's Child

According to Global Warming, Chicago was supposed to be devoid of human life by now. EPIC FAIL!


5 posted on 06/22/2014 7:11:50 AM PDT by sr4402
[ Post Reply | Private Reply | To 4 | View Replies]

To: Oldeconomybuyer

A former Secretary of the Treasury advising us om “climate”....they’re getting desperate, those Marxists


6 posted on 06/22/2014 7:13:03 AM PDT by goodnesswins (R.I.P. Doherty, Smith, Stevens, Woods)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Oldeconomybuyer
But how will we stop all this cooling over the past nine years?


7 posted on 06/22/2014 7:13:08 AM PDT by BinaryBoy ("Immigration Reform" is ballot stuffing)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Oldeconomybuyer

Says Mr. TARP himself.


8 posted on 06/22/2014 7:14:20 AM PDT by smokingfrog ( sleep with one eye open (<o> ---)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Oldeconomybuyer

This author should show his commitment and leave the planet.


9 posted on 06/22/2014 7:14:42 AM PDT by <1/1,000,000th%
[ Post Reply | Private Reply | To 1 | View Replies]

To: Alberta's Child
My own preference is another 2o+ Celsius, and 1500 or even 1800 ppm CO2.

So let me, the Greenie Goddess, control the Planet Thermometer till we hit those levels, and then you'll see how right I was. Garden of Eden, here we come!

I'm doing my part. I have 2 nice big compost piles that are vastly enlarging my Carbon Footprint.

It's my civic duty!

10 posted on 06/22/2014 7:14:54 AM PDT by Mrs. Don-o (When you see a fork in the road, take it. - Yogi Berra)
[ Post Reply | Private Reply | To 4 | View Replies]

To: Oldeconomybuyer

Raising taxes on everything you do will help the economy, got that boys and girls.

It does my heart good to know we have men of such brilliance willing to share their obvious superior brilliance with the rest of us.

Henry you are so brilliant if you were to jump into a wood chipper I’d follow you because you are so brilliant it must be the best thing to do.


11 posted on 06/22/2014 7:16:05 AM PDT by IMR 4350
[ Post Reply | Private Reply | To 1 | View Replies]

To: Oldeconomybuyer

Hooray! Certainly not the guy you want taking your side in an argument. I’m surprised the NYT would pick him up as a spokesman on anything, as he has the same level of credibility as Dennis Rodman.


12 posted on 06/22/2014 7:18:59 AM PDT by gusopol3
[ Post Reply | Private Reply | To 1 | View Replies]

To: Oldeconomybuyer

We are all going to die! In less than 125 years every man, woman and child now living will be dead!

Is is Bush’s fault.


13 posted on 06/22/2014 7:21:03 AM PDT by Bubba_Leroy (The Obamanation Continues)
[ Post Reply | Private Reply | To 1 | View Replies]

To: sr4402

We might be in a climate crash, but NOT BECAUSE OF CO2.

the issue is water and specifically, the olgallala aquifer.

Basically, this is a giant underground lake that lies underneath the great plains of the usa and it is being pumped dry to irrigate crops.

The level has dropped by about 180 feet over the last 40 years.

From Wiki:

The Ogallala Aquifer is a shallow water table aquifer located beneath the Great Plains in the United States. One of the world’s largest aquifers, it underlies an area of approximately 174,000 mi² (450,000 km²) in portions of eight states: (South Dakota, Nebraska, Wyoming, Colorado, Kansas, Oklahoma, New Mexico, and Texas).

...

The water-saturated thickness of the Ogallala Formation ranges from a few feet to more than 1000 feet (300 m) and is generally greater in the northern plains.[5

...

As of 2005, the total depletion since pre-development amounted to 253,000,000 acre feet (312 km3).[6] Some estimates indicate the remaining volume could be depleted as soon as 2028


14 posted on 06/22/2014 7:22:43 AM PDT by staytrue
[ Post Reply | Private Reply | To 2 | View Replies]

To: Oldeconomybuyer

CO2 is PLANT FOOD, ya NYT morons! And “global warming” is a SCAM.

Bunch of idjits in the comments section over there, too.


15 posted on 06/22/2014 7:23:34 AM PDT by piytar (The predator-class is furious that their prey are shooting back.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Oldeconomybuyer

It occurs to me that these guys in the media and in the bureaucracy, especially in D.C. could stand to get out of their air-conditioned habitats and go live where there are no comforts that come with electricity.

Personally I vote for Sudan or right now... Iraq. I think it would do them a world of good to see how the other half lives.


16 posted on 06/22/2014 7:23:42 AM PDT by The Working Man
[ Post Reply | Private Reply | To 1 | View Replies]

To: Oldeconomybuyer

The credit meltdown was caused by government bow wows just like you, Hank.


17 posted on 06/22/2014 7:28:07 AM PDT by Eric in the Ozarks (Rip it out by the roots.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Mrs. Don-o

Compost piles have literally a zero carbon footprint.

The carbon they release was removed from the atmosphere when the now-composting plants were growing.

If you want to increase your carbon footprint you need to go drive your Suburban around the block a few times.


18 posted on 06/22/2014 7:30:09 AM PDT by DuncanWaring (The Lord uses the good ones; the bad ones use the Lord.)
[ Post Reply | Private Reply | To 10 | View Replies]

To: Oldeconomybuyer

I fully support carbon taxes in NYC, and 85% of NYC cliff dwellers would vote for them too. Nothing is stopping NYC from showing us the way. Around 80% of carbon is emitted in support of city dwellers. You can’t force 100% of the world to pay carbon taxes, impossible, but you can address 80% of the problem. Isn’t that enough to start? Go for it NYC.


19 posted on 06/22/2014 7:33:53 AM PDT by Reeses
[ Post Reply | Private Reply | To 1 | View Replies]

To: IncPen

Once they can control the money supply, your schools, your body, and the energy supply, they can control anything.


20 posted on 06/22/2014 7:38:50 AM PDT by ProtectOurFreedom
[ Post Reply | Private Reply | To 3 | View Replies]

To: sr4402

The only response I can think of which is appropriate to this drivel is to shout, BULLSHIT!


21 posted on 06/22/2014 7:40:14 AM PDT by Tucker39 (Welcome to America! Now speak English; and keep to the right....In driving, in Faith, and in politic)
[ Post Reply | Private Reply | To 2 | View Replies]

To: sr4402
Paulson is an embarrassment.

He should have been put in prison for his handling of the banking crisis and TARP.

I guess Goldman Sachs hasn't gotten all their money out of their idiotic global warming investments.
22 posted on 06/22/2014 7:41:18 AM PDT by indthkr
[ Post Reply | Private Reply | To 2 | View Replies]

To: BinaryBoy
But how will we stop all this cooling over the past nine years?<<

Well the 1st step was to say it was proven science that we had global WARMING.....When that failed they had to go to “climate change” so that no matter what......... “proven science” would justify a tax on humans

23 posted on 06/22/2014 7:42:19 AM PDT by M-cubed
[ Post Reply | Private Reply | To 7 | View Replies]

To: BinaryBoy

How will we stop all that cooling over the past 9 years?

We wont, and if a large volcanic eruption like Pinatubo in the 80’s spews megatons of ash things will get pretty cool in a short time and could last for a number of years. Then again, Iran having nukes could achieve the same result.


24 posted on 06/22/2014 7:42:44 AM PDT by CARTOUCHE (9999 EOM)
[ Post Reply | Private Reply | To 7 | View Replies]

To: Oldeconomybuyer

A global climate tax is the banksters’ holy grail. It will be the biggest scam on the people since they pulled that trick back on Jekyll Island.


25 posted on 06/22/2014 7:43:56 AM PDT by Paine in the Neck (Socialism consumes EVERYTHING)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Oldeconomybuyer
Carbon dioxide emissions like those from coal-fired power plants should be taxed to spur energy innovation.

What idiotic thinking. Let's levy enormous taxes on the auto industry to spur innovation. Gigantic taxes on the Internet to spur innovation. Huge taxes on agriculture to spur innovation.

What freaking stupidity. It's a low-tax, low-regulation environment that produces the capital to invest in R&D to stimulate innovation. Sending all your money to Washington DC for the pols to redistribute to cronies results in "innovations" like Solyndra and the hundreds of other Obama-backed companies that have failed and taken tens of billions of dollars with them. Their exec teams all got enriched and were able to make massive payoffs to their democrat congressmen, but other than that, nothing was accomplished.

Some "innovation."

26 posted on 06/22/2014 7:44:52 AM PDT by ProtectOurFreedom
[ Post Reply | Private Reply | To 1 | View Replies]

To: piytar
The science is settled - any weather related phenomenon, like hurricanes, typhoons, tornadoes and drought, and all unseasonal cooling can be attributed to "global warming',...and we need to heavily tax your ill-gotten gains to put a stop to it!
27 posted on 06/22/2014 7:45:03 AM PDT by broken_arrow1 (I regret that I have but one life to give for my country - Nathan Hale "Patriot")
[ Post Reply | Private Reply | To 15 | View Replies]

To: Oldeconomybuyer

Well, looky here:

“Along with Gore, the co-founder of GIM is Treasury Secretary and former Goldman Sachs CEO Hank Paulson. Last September, Goldman Sachs bought 10% of CCX shares for $23 million. CCX owns half the ECX, so Goldman Sachs has a stake there as well.”

http://www.humanevents.com/2007/10/03/the-money-and-connections-behind-al-gores-carbon-crusade/

GIM stands for Generation Investment Management

The environmentally conscious one-percent-er Hank Paulson is positioned to make even more millions from carbon trading schemes and subsidies to industries that he invested in with his buddy, Al Gore.

Hank, wipe away those crocodile tears for the environment. It’s just another way for you to fleece the dupes from their money.


28 posted on 06/22/2014 7:45:46 AM PDT by BigBobber (`)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Oldeconomybuyer

Yeah, you guys did so well with the economy, we should DEFINITELY listen to you on a hard science you have no training or experience in!!!


29 posted on 06/22/2014 8:01:18 AM PDT by Lazamataz (Early 2009 to 7/21/2013 - RIP my little girl Cathy. You were the best cat ever. You will be missed.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: DuncanWaring
Well true, you've got it 100% true; and yet a compost pile does have a positive carbon impact, because if we threw our garbage in the city trash, it would end up in Iris Glen (landfill) under anaerobic conditions, and turn to methane, sequestered there God knows how many years or centuries.

I am preventing the carbon from being sequestered underground. (Interesting Link).

And by the way, the same thing is true of the gas that runs your Subaru. That's just the carbon that was in the gorgeously greenhousy atmosphere and used by the plants during the Carbonaceous Age. You're un-sequestering it and setting it free again.

30 posted on 06/22/2014 8:08:11 AM PDT by Mrs. Don-o (When I grow up, I'm gonna settle down, chew honeycomb & drive a tractor, grow things in the ground.)
[ Post Reply | Private Reply | To 18 | View Replies]

To: Oldeconomybuyer

Same old bleeding-heart tax-and-spend approach to solving problems .... same old failed ideas

That’s what got most countries in the mess they’re in now - lots of debt, and the problems still aren’t fixed


31 posted on 06/22/2014 8:13:49 AM PDT by canuck_conservative
[ Post Reply | Private Reply | To 1 | View Replies]

To: DuncanWaring
That's just what I am doing! Driving my Tahoe around the block again and again for absolutely no reason. We don't travel much anymore, don't have a boat anymore, rarely fly anywhere so if I am going to contribute to glowbull warming, I must do what I must for the cause.

We do raise cattle so cow flatulence helps I guess.

32 posted on 06/22/2014 8:26:16 AM PDT by Ditter
[ Post Reply | Private Reply | To 18 | View Replies]

To: staytrue

There is reason for concern about the Ogallala Aquifer but saving it will require political willpower and a different approach in each state.

First, there are areas where the saturated thickness of the aquifer is increasing, thanks to sound water management practices and the Nebraska Sandhills which act as a large recharge basin. The good news is, the aquifer is healthy and maintaining itself normally in the “breadbasket” areas where efficient irrigation and management practices are in place. Nebraska can continue as-is forever and the aquifer will be just fine.

The depletion problem is greatest in the southern-most fringe of the aquifer, particularly in the Llano Estacado region of northern Texas. The vaunted Texas government has allowed the worst form of water management (known as “right of capture”) to basically pump the aquifer dry under the theory of “first some, first served” for so many years that yes, they are now facing a major water crisis. Cropland that could sustain food and fiber production for decades to come is now useless due to the lack of water, and we have Texas politicans to thank for that. It’s now too late for some areas, no matter what is done.

Further north in western Kansas depletion rates are alarmingly high because laws allow a majority of landowners to dictate policy. Just a few months ago Garden City area users rejected a plan that would have reduced usage by 20%. It’s all about money and political power - how many conservatives will support a “water rights war”?

I’m a capitalist and strong supporter of individual rights, but conserving natural resources is one of the basic conservative values, and this is a case where the good of the public has to be put ahead of the rights of individual landowners. It will take improved water management policies and politicians who are willing to stand up to tge big-beltbuckle types in order to safeguard the aquifer for posterity.


33 posted on 06/22/2014 8:29:17 AM PDT by bigbob (The best way to get a bad law repealed is to enforce it strictly. Abraham Lincoln)
[ Post Reply | Private Reply | To 14 | View Replies]

To: BigBobber

“The environmentally conscious one-percent-er Hank Paulson is positioned to make even more millions from carbon trading schemes and subsidies to industries that he invested in with his buddy, Al Gore.

Hank, wipe away those crocodile tears for the environment. It’s just another way for you to fleece the dupes from their money.”

Hank is an honorable and terribly misinformed man on this issue.


34 posted on 06/22/2014 8:32:26 AM PDT by staytrue
[ Post Reply | Private Reply | To 28 | View Replies]

To: Oldeconomybuyer

What Paulson learned:

How to run a scam.


35 posted on 06/22/2014 8:56:03 AM PDT by old curmudgeon
[ Post Reply | Private Reply | To 1 | View Replies]

To: Oldeconomybuyer

I thought The Slimes didn’t have comics.


36 posted on 06/22/2014 9:15:13 AM PDT by meatloaf (Impeach Obama. That's my New Year's resolution.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Oldeconomybuyer

Paulson’s & libtard’s strategy is obvious: Tax the bejeezus out of Americans starting now, and when no “climate crash” ever occurs, claim credit for having prevented it.


37 posted on 06/22/2014 9:35:30 AM PDT by Zman516 (Thought-Criminal #1)
[ Post Reply | Private Reply | To 1 | View Replies]

To: BigBobber

Of Course there is no mention of this obvious “conflict of interest” anywhere in the op-ed or the disclaimer at the bottom.

He’s just a “concerned Republican” calling for Climate Action Now!

Crony Capitalism to the Climate Rescue! The .018 Degree temp change (note I said change, not reduction) from eliminating all coal plants in the US will be worth the Trillions spent... for the Children.


38 posted on 06/22/2014 9:36:28 AM PDT by UNGN (I've been here since '98 but had nothing to say until now)
[ Post Reply | Private Reply | To 28 | View Replies]

To: Oldeconomybuyer

The green Climate Bubble was actually all the money you cronies were hoping to make on carbon credits, windmills, solar arrays and electric clown cars. And all the money the House of Saud was going to make pumping oil while the US shut down. That bubble burst before it got too big.


39 posted on 06/22/2014 9:39:11 AM PDT by justa-hairyape (The user name is sarcastic. Although at times it may not appear that way.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Oldeconomybuyer
A tax on carbon emissions will unleash a wave of innovation to develop technologies, lower the costs of clean energy and create jobs as we and other nations develop new energy products and infrastructure. This would strengthen national security by reducing the world’s dependence on governments like Russia and Iran.

This idiot is NOT concerned about national security, only to save his own hide.

40 posted on 06/22/2014 11:19:12 AM PDT by VRW Conspirator (Global Warming is caused by illegal immigrants!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: staytrue
Climate crash because of the Olgallala Aquifer? I have a bridge in Brooklyn to sell you!

Have you ever thought about plants?

41 posted on 06/22/2014 11:32:13 AM PDT by sr4402
[ Post Reply | Private Reply | To 14 | View Replies]

To: indthkr
He should have been put in prison for his handling of the banking crisis and TARP.

My sentiments exactly. Paulson was responsible for the wasting of vast amounts of taxpayer money. Anyone who gives him the time of day is nuts.

We're not all Muppets.

42 posted on 06/22/2014 12:29:10 PM PDT by Timocrat (Ingnorantia non excusat)
[ Post Reply | Private Reply | To 22 | View Replies]

To: Oldeconomybuyer

The Oceans are not going to rise, see Ted Danson and Whoopi Goldberg, the Oceans died 20 years ago.

As for this asswipe Moneychanger, he will burn in Hell with the rest of the moneychangers that believe charging interest on something they NEVER OWNED is just peachy. I wish more people would learn how our Fraudulent Monetary System operates and Enslaves us.


43 posted on 06/22/2014 2:47:48 PM PDT by eyeamok
[ Post Reply | Private Reply | To 1 | View Replies]

To: eyeamok
moneychangers that believe charging interest on something they NEVER OWNED is just peachy.

Monetary ignorance is sad.

44 posted on 08/23/2014 8:35:23 AM PDT by Toddsterpatriot (Science is hard. Harder if you're stupid.)
[ Post Reply | Private Reply | To 43 | View Replies]

To: Oldeconomybuyer

The comments section is appalling, even for the Slimes. I have a hard time believing it isn’t edited to exclude anyone with a grain of common sense.


45 posted on 08/23/2014 8:51:21 AM PDT by facedown (Armed in the Heartland)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Oldeconomybuyer

Destroying the economy is the only way to save us from the next glaciation! /s


46 posted on 08/23/2014 9:01:43 AM PDT by <1/1,000,000th%
[ Post Reply | Private Reply | To 1 | View Replies]

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson