05 Aug '11, 11pm

Pricking the Carbon Finance Bubble

Pricking the Carbon Finance Bubble

As part of the Green Economy series After the first year of the Dodd-Frank reform in the USA, the too-big-to-fail financial bubble still looms. The deficit debate revealed decades of unsustainable policies, practices and money-corrupted politics. Subsidized fossilized industries still dominate in energy, healthcare, agriculture, military and on Wall Street. Massive misallocations of capital led to the financial crises of 2008-9 (see FCIC ), papered over by bailing out the perpetrators. The USA was stuck with a symptomatic debt to GDP ratio of 90 percent and reckless, diversionary politicizing of the debt ceiling. The best way to cut the deficit: closing tax loopholes and putting Americans back to work, so as to restore lost tax revenues. MSNBC's Dylan Ratigan calls for restructuring US debt—and facing up to the global debt overhang. Missed by Frank-Dodd are the obsolete fo...

Full article: http://www.matternetwork.com/2011/8/pricking-the-carbon-f...

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