Comments on: Nicholas Stern: Recession is the time to build a low-carbon future http://climateprogress.org/2008/10/23/stern-recession-is-the-time-to-build-a-low-carbon-future/ The Latest on Climate Science, Solutions, and Politics Mon, 22 Mar 2010 14:44:39 -0400 http://wordpress.org/?v=2.8.5 hourly 1 By: Gordon http://climateprogress.org/2008/10/23/stern-recession-is-the-time-to-build-a-low-carbon-future/#comment-20983 Gordon Fri, 24 Oct 2008 11:09:22 +0000 http://climateprogress.org/2008/10/23/stern-recession-is-the-time-to-build-a-low-carbon-future/#comment-20983 Although you are right Hapa, regarding the finance guys just wanting to fix their balance sheets, one needs to realize that it was the finance guys in the first place that created the current housing bubble. The Fed, by keeping interest rates lower than inflation rates effectively caused a negative real interest rate. For some reason the Fed decided to keep this negative real interest rate in place even after the markets had recovered from 9/11 and all the way through to the current fall out. So basically they were paying you to borrow money. Obama is right, we do need another area of investment in the economy, but, and I once again agree with you Hapa, we do not need another bubble. The stricter financial controls being established now should limit the possibility of another bubble being created in the economy, if the Fed doesn't screw it all up again. I couldn't agree more however. We need to get green and we need to do it fast. The huge thermodynamic nature of the oceans, which act as a heat battery, mean that even if we stop all carbon emissions now temperatures will continue to rise for a couple of years, maybe even decades, to come. This is where policy makers have to step in. The problem here is that Government is inherently short sited, focusing only on the next election and only on short term results that they can notch up on their belts. This calls for a much longer term view, which in my opinion, Government is ill suited to make. Although you are right Hapa, regarding the finance guys just wanting to fix their balance sheets, one needs to realize that it was the finance guys in the first place that created the current housing bubble.

The Fed, by keeping interest rates lower than inflation rates effectively caused a negative real interest rate. For some reason the Fed decided to keep this negative real interest rate in place even after the markets had recovered from 9/11 and all the way through to the current fall out. So basically they were paying you to borrow money.

Obama is right, we do need another area of investment in the economy, but, and I once again agree with you Hapa, we do not need another bubble. The stricter financial controls being established now should limit the possibility of another bubble being created in the economy, if the Fed doesn’t screw it all up again.

I couldn’t agree more however. We need to get green and we need to do it fast. The huge thermodynamic nature of the oceans, which act as a heat battery, mean that even if we stop all carbon emissions now temperatures will continue to rise for a couple of years, maybe even decades, to come. This is where policy makers have to step in. The problem here is that Government is inherently short sited, focusing only on the next election and only on short term results that they can notch up on their belts. This calls for a much longer term view, which in my opinion, Government is ill suited to make.

]]> By: shopa http://climateprogress.org/2008/10/23/stern-recession-is-the-time-to-build-a-low-carbon-future/#comment-20973 shopa Fri, 24 Oct 2008 02:07:49 +0000 http://climateprogress.org/2008/10/23/stern-recession-is-the-time-to-build-a-low-carbon-future/#comment-20973 Low vehicle weight is a critical to getting high fuel economy. I have invented a way to make small and light cars safer in collisions and this could encourage more people to drive one. www.safersmallcars.com Low vehicle weight is a critical to getting high fuel economy.

I have invented a way to make small and light cars safer in collisions and this could encourage more people to drive one.

http://www.safersmallcars.com

]]> By: David B. Benson http://climateprogress.org/2008/10/23/stern-recession-is-the-time-to-build-a-low-carbon-future/#comment-20966 David B. Benson Fri, 24 Oct 2008 00:26:21 +0000 http://climateprogress.org/2008/10/23/stern-recession-is-the-time-to-build-a-low-carbon-future/#comment-20966 "Mark Lynas: the green heretic persecuted for his nuclear conversion": http://www.timesonline.co.uk/tol/news/environment/article4836556.ece “Mark Lynas: the green heretic persecuted for his nuclear conversion”:

http://www.timesonline.co.uk/ tol/ news/ environment/ article4836556.ece

]]> By: David B. Benson http://climateprogress.org/2008/10/23/stern-recession-is-the-time-to-build-a-low-carbon-future/#comment-20962 David B. Benson Thu, 23 Oct 2008 23:44:20 +0000 http://climateprogress.org/2008/10/23/stern-recession-is-the-time-to-build-a-low-carbon-future/#comment-20962 hapa --- Well stated, IMO. hapa — Well stated, IMO.

]]> By: Rick C http://climateprogress.org/2008/10/23/stern-recession-is-the-time-to-build-a-low-carbon-future/#comment-20948 Rick C Thu, 23 Oct 2008 17:40:19 +0000 http://climateprogress.org/2008/10/23/stern-recession-is-the-time-to-build-a-low-carbon-future/#comment-20948 There will be heavy pressure from the coal industry and the utilities to maintain business-as-usual so we will have to be the countervailing force to make CO2 emissions reduction possible through greening our electricity grid and linking transportation to electricity. There will be heavy pressure from the coal industry and the utilities to maintain business-as-usual so we will have to be the countervailing force to make CO2 emissions reduction possible through greening our electricity grid and linking transportation to electricity.

]]> By: paulm http://climateprogress.org/2008/10/23/stern-recession-is-the-time-to-build-a-low-carbon-future/#comment-20941 paulm Thu, 23 Oct 2008 17:25:31 +0000 http://climateprogress.org/2008/10/23/stern-recession-is-the-time-to-build-a-low-carbon-future/#comment-20941 We need to start from a depression. We need to start from a depression.

]]> By: hapa http://climateprogress.org/2008/10/23/stern-recession-is-the-time-to-build-a-low-carbon-future/#comment-20937 hapa Thu, 23 Oct 2008 17:15:34 +0000 http://climateprogress.org/2008/10/23/stern-recession-is-the-time-to-build-a-low-carbon-future/#comment-20937 this is where great care is needed. a new bubble isn't the answer. we didn't get universal broadband from the IT bubble, we haven't gotten guaranteed affordable healthcare from the medical bubble, and look at the beating we're getting from the housing bubble. this has to be about real world impact, now. the finance people only want to fix their balance sheets with this. this is where great care is needed. a new bubble isn’t the answer. we didn’t get universal broadband from the IT bubble, we haven’t gotten guaranteed affordable healthcare from the medical bubble, and look at the beating we’re getting from the housing bubble.

this has to be about real world impact, now. the finance people only want to fix their balance sheets with this.

]]> By: Ronald http://climateprogress.org/2008/10/23/stern-recession-is-the-time-to-build-a-low-carbon-future/#comment-20936 Ronald Thu, 23 Oct 2008 16:46:40 +0000 http://climateprogress.org/2008/10/23/stern-recession-is-the-time-to-build-a-low-carbon-future/#comment-20936 The CNN show Anderson360 had on Joe Klein from Time magazine. Joe Klein said that they will have a magazine article out for this weekend that says that Barack Obama has said that we need something to make up for the lack of investments in other areas in our economy and Obama's view is that Green energy should be it. Housing was 2 million starts in 2006, and the United States is down to around 800 000 now with real estate prices still dropping, it's not going to be the place to ramp up production anytime soon. We've got an oversupply of motor vehicles right now, even if they are the wrong kind, not being PHEV's and BEV's. So hopefully Obama will win on November 4th and follow thru. The CNN show Anderson360 had on Joe Klein from Time magazine. Joe Klein said that they will have a magazine article out for this weekend that says that Barack Obama has said that we need something to make up for the lack of investments in other areas in our economy and Obama’s view is that Green energy should be it.

Housing was 2 million starts in 2006, and the United States is down to around 800 000 now with real estate prices still dropping, it’s not going to be the place to ramp up production anytime soon. We’ve got an oversupply of motor vehicles right now, even if they are the wrong kind, not being PHEV’s and BEV’s. So hopefully Obama will win on November 4th and follow thru.

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