Riffing off Belmont, here's a clear and present disaster. I'm surprised Nulan hasn't picked up on it, focusing as he does on Orlov. But it's all rather simple and transparent to me:
Green investments are linked to two factors. First, the intensity of environmental regulations and second, the perceived benefit of “green” activities. Reuters described the effect of a failure to pass environmental legislation in Congress as a setback for “Green” investment.
You have this gaggle of people who are convinced that retirees deserve pensions. That's very clearly a peasant incentive, considering especially CALPERS which are nothing much more than a bunch of middle class civil servants - ex-government employees much less well deserving of pensions than say soldiers... Anyway, they tie their investments to the newly invented ethics of 'green' in hopes that some legislators somewhere will come up with a regulatory scheme to monetize carbon out of human existence. In other words, based on something entirely scientifically unprovable, but legislatively within the realm of political possibilities, they invent an economy literally out of thin air and desire to bankroll the future based upon that.
This is yet another inflationary scheme that defies reason and expects a generation of fools to capitalize another economic bubble. It's astounding how quickly people have run out of ideas. More and more the future seems to belong to the computer industry. Are we the only people actually making real progress?
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