Money for Nothin'

Why are welfare queens sent to prison while eco-capitalists buy mansions?  It appears that the carbon credit trading exchange some eco-capitalists sold just a few months ago for $634.5M is now worthless.  According to the Financial Times: The owner of the US’s only nationwide cap-and-trade market has signaled the death of the seven-year-old industry, saying companies were no longer interested in trading carbon emissions credits in the absence of government legislation. Virtually nothing the eco-capitalists produce creates wealth for society, including their carbon exchanges.  They are not participating in free-market capitalism; it’s just parasitic political capitalism.  And since most of what they do is based on the AGW scam, one could argue that many of them are guilty of misrepresentation or outright fraud.Meanwhile, the buyer at the other end of this transaction, Intercontinental Exchange, apparently lost a half-billion-dollar bet that the...(Read Full Post)

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