Tag: Growth

Growth is BAD for us

Growth is good for us?  Sorry, wrong!

An interesting story on the BBC recently. It seems that growth is now “bad” and incompatible with reducing global warming.

I have to say that this always seemed obvious to me (and despite appearances  – or indeed pretentions – I am not that clever) since IF industrial production and emissions are creating too much CO2 then it is surely obvious that more of the former will produce more of the latter. Any flaws in this argument will surely be pointed out to me pdq, but I won’t be losing any sleep – or indeed I suspect – the argument!

Well, the theory that growth is bad has now been confirmed by a scientific study …..  of course, we have learned to take some of these studies with a pinch of salt, and it doesn’t help when scientists on the “we are doomed” side sex up their findings to make their case, as was revealed just recently. I found this hilarious!! Once again, a dishonest intention to achieve ONE kind of result (boost the doomsayers’ cause) actually achieved the OPPOSITE!!! When will they ever learn?

An aerial view of the Siachen Glacier, which traverses the Himalayan region dividing India and Pakistan. Photograph: Channi Anand/AP

As for the evils of growth, I am wondering if the British Prime Minister has been informed? His entire strategy (if that is not too noble a word to use in this context) has for well over a decade been based on growth (indeed growth triumphantly trumpeted in advance as likely to be at a level far higher than it actually turns out to be) bringing in enough money to pay for his humungous over-spending.

He must be urgently rearranging his matchsticks in an effort to cook the books once again ….

And there is another side of the “no-growth” movement. YOU may very well decide that in the cause of saving the planet you will keep your consumption where it is, but – logically – that also means people in the developing world who are incredibly poor keeping THEIR consumption where IT is.  That is one hard sell. Of course, YOU may then decide to REDUCE your consumption down until it meets theirs coming up ….. No? Oh well …..

The way I see it, growth is inevitable, whether it is good for the planet or not. Which is a bit of a poser if growth is going to doom us. Still, I remain an optimist – some genius will find a way out of this enigma …. but please make it soon before we grow too much!!

By Chris Snuggs

U.S. Growth Rate Revised Downward

As expected … and as cautioned here:

The Commerce Department has revised downward its estimate of the U.S. growth rate from the third quarter of 2009, see this report.

Citing weaker consumer spending than originally estimated (discussed in an earlier post here) the annualized growth rate is now 2.8%, down from 3.5%, far too weak to make any progress on the employment front.

By Sherry Jarrell