ponzi

Today’s exhibit about Spain’s economic miracle — you could call it a sector-specific collapse — comes from Bloomberg, a heartbreaking tale of the gravy inevitably running out. It is a tale that, pre-collapse, President Obama expressly sought to emulate and California is still actively pursuing, as is typical for the equally bankrupt California. Obama is now silent about Spain as his model and California claims its law is, er…the “world’s first!”

As happened in Spain, California’s bill is certain to come due long before the preening political class expected. The U.K.’s Global Warming Policy Foundation has a roundup with the top six stories in today’s update being relevant, as well.

So, yes, dear, these “green economy” schemes grow the economy. Of course, then so did Mr. Ponzi’s scheme. And, naturally, the plaintiff’s bar grows the economy, too, because we need a bigger court system and people to craft the instructions on shampoo bottles. Except upon slightly more scrutiny than the statists would like, they actually kill jobs. But if you only focus on this part I’m waving my hands at over here…

And upon such scrutiny, their approach of name-calling and fabrication instead of arguing the merits begins to look pretty good.