tag:blogger.com,1999:blog-19838051.post2979503200816139943..comments2024-01-28T22:16:50.852-06:00Comments on Mr. Dilettante’s Neighborhood: Memo to T-Paw, Kate Knuth, The One, Etc.Mr. Dhttp://www.blogger.com/profile/13920907647566015611noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-19838051.post-817357271568596502008-11-10T07:50:00.000-06:002008-11-10T07:50:00.000-06:00The economic collapse could be potentially worse t...The economic collapse could be potentially worse than the mortgage crisis. At least the mortgages had a commodity of real value involved. If a property gets foreclosed the property still has value and someone ends up owing it.<BR/><BR/>In the case of carbon trading, carbon credits are a mythical store of value - there is no tangible value to industry or business other than to buy government permission Unfortunately these credits will consume real capital, jobs, and energy output and when the "market" tanks due to the accompanying regulatory morass the real goods and services tied to the ownership of credits will disappear into thin (but ostensibly cleaner) air as producers will be hammered by both economics and the force of law.<BR/><BR/>This is indeed a dangerous road to go down. There is no market involved here. It is strictly a system where government picks winners and losers, and the government's track record is not very good.Right Hookhttps://www.blogger.com/profile/02381659078828845900noreply@blogger.com