Why Our Government Is Killing Innovation—And the Planet
(00:00.888)
Polluting the economy. Yesterday, I did a little money minute on the fact that Volvo has decided to shelve the idea that they were gonna be all electric by 2030. And I mentioned that oftentimes here on the program, we talk about one EV failure, one green failure, one…
government getting involved in this industry failure, whatever it may be. And from time to time, time to time, people will be like, well, why are you applauding? Why are you applauding that those companies went out of business or the ideas didn’t work? And it doesn’t matter. Doesn’t matter either side. You know, if I make fun of, you know, Donald Trump going to Wisconsin and, you know, taking out a gold shovel with Scott Walker for a Foxconn plant that is now being used as a
I guess a wedding hall for crying out loud. why do you cheer them on? Why do you cheer on the EV companies that go out? It’s the same crap. I’m not cheering it on. I’m cheering it on. I’m basically stating the obvious here. I want these things to go away. Well, why do you want them to go away? Well, as much as I want pollution to go away, as much as
I would hate, want toxic waste dumps to disappear. It’s the thing. This is the one thing that again, many economic ignoramuses all do respect. Okay. You don’t know. You don’t know. Okay. You have to think of the economy as nature in and of itself. You don’t tinker with it. I know I’ve made
comparisons before to the island of Dr. Moreau. You’re making all sorts of crazy genetic experiments on the animals in the island of Dr. Moreau didn’t turn out well. Well, that’s what you do when you subsidize industries. And you think, you think that these people in Washington, DC, or Beijing, or Moscow, or Brussels, you think that they can control nature again?
(02:29.596)
Think of economy, think of nature. You think that they’re gonna have some sort of control over it. They can manage it. They can make it work. They can tinker with it. you get the right people. They got top men working on it right now, right? When has it ever worked? Ever. Give me an example. One, one, one country, one idea, anything. What it does, people, you may have, and again, they may have a benevolent, a noble,
I know something that they want to accomplish. Okay. Yeah. I often call Washington DC, you know, that the Capitol building, the cathedral of unintended consequences. Yes, we just want to green the environment and get all pollution away. And we’re going to force everybody to have electric vehicles. It doesn’t work.
It doesn’t work because you’re getting involved with something that will happen, believe it or not, naturally.
When you pick and choose winners and losers, okay, when the government does this, you box out any sort of real innovation in the market. What do I mean by this? If the government decides that, we’re all going in on solar panels and we’re giving tax credits for solar panels and windmills, well, if…
some real smart guy somewhere has got a better technology for energy, a better, let’s say, renewable technology for energy. Guess what? He’s screwed.
(04:07.19)
He’s screwed, he’s been boxed out. He’s not getting any funding. He might as well shut his door. Because the powers that be have come on from down high and they have said this, I do declare and I do decree, these are the technologies we are going to use. And they’re a joke. Solar’s a joke. Solar’s been around since the 1970s. It was a joke then, it’s a joke now. It’s fine for calculators, okay?
Windmills, yeah, they’re working out real well. It’s a disaster.
So what you’ve done is you’ve made the problem worse. You made the problem worse. You’ve hindered any sort of innovation whatsoever. You’ve gotten involved in a company’s business. You’ve hurt these companies. And I have the same thing, not just here, all over the globe. Volkswagen right now is so smacked around by all of these diktats from the Europeans.
and the government’s over there, not to mention the fact that Volkswagen has owned, large chunk of it owned by the German government. They had to start laying people off. And the workers are freaking out. you can’t fire people. This is Germany. This is unheard of. They’ve never laid anybody off. well, they’re going to go bankrupt if they don’t. Volkswagen. Why? Because the government is tinkering with things. And a story today that
I read three times, three times. I’m gonna go over it with you today. This is one of the, again, it’s amazing to me that, again, the folks that wrote this at the Wall Street Journal, they’re that vapid and dumb to realize just how ridiculous this is. Wait for it right now. Bank of America bets on carbon capture with big tax credit deal.
(06:03.992)
So Bank of America, Bank of America is going to give an ethanol producer $205 million so they can stash their emissions underground. Bank of America, Bank of America is only doing this because they’re getting a tax credit. They’re not losing any money.
on this deal. They’re not losing any money. They’re not going to send the money to Washington DC. In essence, they’re going to send the money, wait for it, to an ethanol producer. Could be me, call me crazy. Was an ethanol put together? The reason why we’re growing corn to put into cars was to help the environment. So now what you’re saying is that
The thing that you said before was there to help the environment, which hasn’t helped the environment, it’s made it that much worse. And we’ve already gone over this here on the program, putting food into cars, stupid, ruining farmland, stupid, phosphates in the Mississippi River, stupid, stupid, stupid, stupid, phosphates get into the Gulf of Mexico, red tide, I can go on and on and on.
But again,
that now they need to have, they need to capture carbon.
(07:59.052)
They need to capture carbon. Meanwhile, the entire industry in of itself has been a disaster.
Disaster. Carbon capture has a dismal record, but is being pursued by governments and companies as a way to reduce emissions from industries that can’t easily switch to renewable energy. The tax credits are attracting renewed interest in the technology from companies such as Exxon Mobil. It’s a wash. There’s no risk involved. There’s no risk.
They’re just not paying taxes. They’re saying, look at me. Now Kermit the Frog says it’s not easy being green, but now we’re green, but you’re not really green. Do you understand how ridiculous this is? So they’re gonna capture at this place 200 ,000 metric tons of carbon, which is the equivalent to the annual emissions of about 42 ,000 gas powered cars.
That ethanol plant most certainly puts out a lot of carbon, does it not?
Again, it’s just one dumb thing after another. It’s kind of reminded me popped into my head back when Rush Limbaugh was making fun of Al Gore. I do some of those bits about corks and cows butts to keep them from farting. There was an episode of South Park and this was in the wake of the financial crisis. And we’ve played clips of it on the radio show throughout the years. was.
(09:38.102)
I think I won awards. It was awesome. It’s called Margaritaville. basically in the episode, they basically had the public, they portrayed the public as treating the economy because again, at the time, financial crisis as a religion.
as a religion. Again, it’s not understood. Nobody understands it, but it’s really important. When you hear these politicians talking about the economy and their economic plans and their tinkering with this and tinkering with that, you do realize it’s all BS.
I want a presidential candidate to stand up at some point in time and say, know what, as far as the economy is concerned, I am going to work to lower taxes. I’m going to work to lower regulations. I’m going to get out of your way. Government doesn’t create jobs. government doesn’t create economic growth. You do. I’m going to get out of the way. want to be number one in the world as far as being
Business friendly. That’s what I’m going to do for the economy. Period. The end. Anyway, Watchdog on wallstreet .com.
