Thursday, September 25, 2008

That bail out: the difficult choice

The Editor
The Guardian

The Stern Review said that the world needs to spend 1% of GDP annually to make a transition towards a zero-carbon economy, thus saving our life-support systems and securing our descendants' future. 1% of the US GDP is about $138 billion. So the American people have a choice: for $700 billion they can get 5 years of carbon savings, creating thousands of jobs in the real economy and minimising the energy crunch, or they can save Wall Streets' sorry asses for a couple of weeks, because the money markets are going to go down, bail out or no bail out.

I leave it to your readers to ponder the choice.

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