The Green New Deal has Red All Over It

Just like the wealth tax that was recently repealed in France. 
Another “Green New Deal” has been sucking the wealth out of Europe since 2008.

Global Warming Marvelous Excuse Supra-National Socialism - Margaret Thatcher

The New Green Deal Is Just Old White Elephants

Daniel Lacalle
A huge stimulus in 2008 in a “growth and employment plan”. A stimulus of 1.5% of GDP to create “millions of jobs in infrastructure, civil works, interconnections, and strategic sectors”. 4.5 million jobs were destroyed and the deficit nearly doubled. That was after the crisis because between 2001 and 2008, money supply in the Eurozone doubled. The Eurozone has been a chain of stimuli since day one.

The so-called “Juncker Plan” or  “Investment Plan for Europe” hailed as the “solution” to the European Union lack of growth was the same. It raised 360 billion euros, many for white elephants.  Eurozone growth estimates were slashed, productivity growth stalled and industrial production fell in December 2018 to three-year low levels.

The Eurozone’s massive “green” policy plan has made the European Union countries suffer electricity and natural gas bills for households that are more than double those of the US, and unemployment is still twice that of the United States, while growth stagnates. In 2016 household electricity prices averaged 26.6 c/kWh in the Euro area and 12.7 c/kWh in the US.

Let us start debunking some myths about this last rabbit out of the interventionists’ hat.

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The New Green Deal Is Just Old White Elephants