Speaking of Janet Yellen, we wish to issue an apology to our longtime Hotline readers. Back in early 2021 when Joe Biden entered the White House, we assured voters that as the newly appointed Treasury Secretary, Yellen would be a voice of reason.
We could not have been more wrong. She’s now certifiably flying over the cuckoo’s nest.
Here is what she declared at the aforementioned G20 meeting:
“Being so close to the magnificent Amazon is also a reminder that the transition to a lower-carbon global economy is also the single greatest economic opportunity of the twenty-first century. The transition will require no less than $3 trillion in new capital from many sources each year between now and 2050.This can be leveraged to support pathways to sustainable and inclusive growth, including for countries that have historically received less investment.”
Not only are we going to spend $78 trillion and not only will the U.S. share of the tab be nearly $25 trillion, but she says it’s going to be good for us: a glorious “transition.” A “historical investment.”
Just who’s going to get their hands on that $78 trillion? The Democratic National Committee? The Sierra Club? The communist party? Al Gore? Solyndra and Fisker Auto? Oh sorry, they went bankrupt.
We also just can’t help wondering: with $78 trillion, wouldn’t it be cheaper to just colonize another planet?