Could Obamanomics Cause New Ice Age?

Friday, 08 Feb 2013 10:33 AM

By Lowell Ponte

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Days before a massive blizzard was expected Friday to bury New England, a new study by the Center for Economic Policy and Research, a liberal think tank in Washington, D.C., proposed that if the world becomes "more European" — working fewer hours, taking more vacations, and producing far less — this could reduce future global warming by as much as 2.34 degrees Fahrenheit (1.3 degrees C.).
If this is true, then President Barack Obama's economy-chilling new taxes and choking regulations might soon send global temperatures plunging into a new Ice Age.
Because of President Obama's policies, 8.5 million fewer jobs exist in America today than when he took office four years ago, even though the U.S. population has increased by 9 million people.
America's economic growth has cooled to an almost-frozen halt, and plummeted to minus 0.5 percent GDP growth, an icy dip to recession-level low growth, in the fourth quarter of 2012.
If fewer hours of work will cool Earth's climate by expending less energy, then the 23 million Americans now unemployed or able to find only part-time work are chilling our economy and society to the bone.
No wonder so many Americans are shivering with fear that our economy may not survive the next four years, and that our children have no future in the economic Ice Age that President Obama's policies are bringing on.
In our latest book, The Great Debasement, monetary expert Craig R. Smith and I explore forces that could bring down America's economy.
We devote a chapter to the continuing severe drought and other devastating weather in America's heartland that has raised the cost of food and fuel and lowered the level of the Mississippi River enough to impede barge traffic.
Experts this month warned that the continuing drought is lowering the level of the Great Lakes and threatens to reverse the flow of the Chicago River.
Such North American droughts, they note, have occurred repeatedly for thousands of years before humans could influence climate change.
Weather and climate affect the economy. Since biblical times people have understood that good weather brings rich harvests, feasts, and prosperity, and that years of bad weather can cause famines and hardship.
The ancient Chinese believed the Emperor ruled by "the Mandate of Heaven," and that bad weather signaled heavenly disapproval of the ruler.
The Bible repeatedly indicates that good or bad weather is sent as a divine response to human behavior (e.g., Haggai 1:11, Leviticus 26:3-5).
What's interesting in this new liberal analysis is its idea that levels of unemployment and underemployment typical of European social welfare states could cool Earth's climate by slowing down productivity and moving America in the direction of de-industrialization.
President Obama's blizzard of tax increases, frosty hostile-to-business regulations and icy class-warfare threats are, indeed, turning America into an economically frozen Eurosocialist welfare state where businesses are afraid to invest or hire workers.
This liberal study contends that Americans might happily give up a quarter of their income gains in exchange for more leisure and vacation time.
We are turning into a low-work welfare state faster than most people understand. Fully 49.1 percent of American households already include at least one person who pockets some kind of government benefit.
"It's something we have to decide as a country," says the study's author David Rosnick.
We used to be able to decide things as individuals, but in President Obama's America what matters, increasingly, is the collective, whose politicians get their power by making us dependent wards of the state.
President Obama's policies are already drastically slowing the world's most advanced economy, which if this liberal group is correct should turn down Earth's climatic thermostat.
Obamanomics might be one cause of the recent record snow that shut down roadways around Moscow, as well as of the latest New England blizzard.
In the twilight chill of liberalism's dawning utopia, we may all become collectivized cave dwellers again in a new economic Ice Age, like Europe's past and present eco- and econo-primitive Neanderthals.
Lowell Ponte is co-author, with Craig R. Smith, of "Crashing the Dollar: How to Survive a Global Currency Collapse"; "The Inflation Deception: Six Ways Government Tricks Us . . . And Seven Ways to Stop It"; and "Re-Making Money: Ways to Restore America's Optimistic Golden Age." For a limited time, you can get a free postpaid copy of his new book "The Great Debasement: The 100-Year Dying of the Dollar and How to Get America's Money Back" by calling 800-630-1494. Read more reports from Lowell Ponte — Click Here Now.


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