“Warming up” to bigger government

Hold on to your offsets… our guardians of green in Congress are bringing new new global warming legislation to the table. But there is resistance:

Senators voted 74-14 to proceed to the bill, but immediately it became clear Republican opponents were not going to make it easy. A request by Democrats to begin considering substantive changes in the bill was blocked by GOP opponents until Wednesday at the earliest.

homer Mean old GOP!

The Senate measure, which has wide Democratic and some Republican support, would cap U.S. emissions of carbon dioxide and other greenhouse gases, cutting them by 18 percent by 2020 and by two-thirds by mid-century. It would specifically target refineries, power plants, factories and transportation for 70 percent reductions and make emissions allowances available to be traded in an open market.

70 percent? Sure, no prob Congress. Just a little rebuilding of major industries from the ground up oughta do it.

I may be dating myself here but… remember a tacky little show from the late 70’s called “Carter Country”? I’m reminded of the fat mayor on that show who often would dump an impossible task on an already overworked police chief saying “Handle it, Roy!” in a lilting voice before scampering off. This is Congress. They are really good at looking like they are doing something while dumping the responsibility on others… the mess that occurs later can always be blamed on those same others.

Let’s clear one thing up. The reason a lot of us conservatives have reservations about global warming legislation is NOT – as some of you may assume – because we are uncaring about our world. We care about it deeply – deeply enough, in fact, that we refuse to stand by and allow a bunch of emotionally charged dunderheads go off half cocked and ruin the quality of life we have in this amazing country and on this beautiful blue-green marble called earth. You see, Congress tends to do that a lot, make impassioned speeches and craft bills that take away more of our freedom while forcing businesses to spend exorbitant amounts of money on “fixes”. All this based upon data that is… get ready… inconclusive.

WHAT!!? What about Al Gore and his impressive Powerpoint chart on carbon dioxide levels? Great! Lets do look at that one a little closer. And in the process let’s look at what happens to respected scientists who have the nerve to question this and other data that is held out there as “proof”. I’ll let our good ol’ Libertarian friend, John Stossel walk you through it:

Get a better picture now? All we know at present is that the climate has been getting warmer. But there have been many such trends throughout history. The difference here is that libs have managed make man the villain this time around rather than… say… volcanoes or dinosaur farts. And by making arbitrary predictions suggesting that New York will become part of the Atlantic Ocean in the next 20 years, they can create panic and the sense of urgency to act: “We don’t have TIME to think! We must do something NOW… for the CHILDREN!”

Don’t get caught up in it, folks – and don’t just join the crowd to be hip. Think for yourselves, look at the data yourselves (ALL of it) and form your own opinions… it really is a liberating thing. And if you come to the conclusion that I have, pick up the phone, call the bonehead who is supposed to be representing you in Congress and make it clear that you’ll take away their job if they take away any more of your freedom.


Mighty Senate to ease our housing fears

Worried about your house? Fear not, mortals. Once again your government is coming to rescue you from the sinister forces of the mortgage industry:

U.S. Senate finance committee leaders said they had reached an agreement on a bill to provide about $500 million in help for troubled U.S. mortgage holders.

The primary goal here is to keep people in their homes,” said Sen. Christopher Dodd, D-Conn., chairman of the Senate Banking, Housing and Urban Affairs Committee.

Thank you Democrat Senator Dodd. People of the dependency class that make up your voter base are no doubt wiping tears of gratitude from their eyes after being reassured that once again big bro has their backs.

The money would go to expand offerings of government-insured mortgages, The New York Times reported Tuesday.

The plan also has tentative Bush administration approval because it doesn’t tap directly into taxpayer dollars.

The program would be financed by the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation.

Sounds just peachy. But notice the wording — this plan “doesn’t tap directly into taxpayer dollars”. This means that we get to hang onto our green… for now. But what if Freddie and Fannie one day find themselves insolvent? Who will bail them out? That’s right, ultimately we the people will once again foot the bill for the boneheaded investments of others. Not officially stated but… let’s face it, we’re supporting this turkey.

Nobel Laureate in economics, Vernon L. Smith agrees with this assumption and in fact believes that these two agencies are at the root of housing bubbles in the first place. In a WSJ article from Dec. 2007, he had this to say.

Under the Senate deal, the start-up funds would come instead from an affordable-housing fund capitalized by mortgage giants Fannie Mae and Freddie Mac, which were created by the government but are owned by public stockholders. This august body has long forgotten that it set the stage for housing bubbles by creating those implicitly taxpayer-backed agencies, Fannie Mae and Freddie Mac, as housing lenders of last resort.

By implicitly taxpayer-backed agencies, Smith means that you and me are the unspoken, unofficial safety net should these two mortgage giants find themselves in trouble. Who else is going to do it? Warren Buffet? George Soros? Ha!

And be assured that any bill that congress passes to “fix” this mess will ultimately be a temporary, election year band-aid. It’ll be like duct tape on a plumbing leak — might hold it long enough for the plumber to… geez, I’m starting to sound like Ross Perot here.

So what’s the answer, then? We are in a correction — let it play it’s course. Sure it will be a bumpy ride but it is ultimately a healthy thing when idiots are weeded out of any market. Conversely it is very unhealthy to reward stupid investors. It only encourages them to make more… say it with me… stupid investments.