Climate Change… “an American National Security Challenge” Sen. Kerry.
Filed under: Domestic Politics, Energy, Environment, Uncategorized
An appeal to self-interest from the Chairman of the US Senate Foreign Relations Committee.
Senator John Kerry decided to send another salvo across the bow today and penned a passionate op-ed in the The Hill newspaper in support of climate change legislation. Stalled in Congress, the legislation suffers from attacks by corporate lobbyists, conservative think tanks and right wing talk radio hosts who debate the scientific realities of global warming. As many supporters of Congressional efforts to reduce carbon emissions know, defending the science and consequences of climate change against the fictitious and greedy attacks of the opposition can be a futile cause. So Kerry went another way.
Instead of arguing the science of the bill, he laid out the simple and stark geopolitical and national security threats that face this country if we fail to place a price on the cost of carbon. ”Climate change injects a new major source of chaos, tension and human insecurity into an already volatile world. It threatens to bring more famine and drought, worse pandemics, more natural disasters, more resource scarcity, and staggering human displacement. In an interconnected world, that endangers all of us,” he wrote. Shining a light on the critically shared Himalayan glacier water resources of India and Pakistan which are melting away, and the growing threats of famine, drought, and pandemics across the globe Senator Kerry hoped he could soften some intransigent opinions.
Channeling Hans Morenghtau he ended with the article with a clear message. “Here’s one fact that should awaken every rock-ribbed defense hawk to the stakes: There will always be excuses to wait, but every day that Washington fails to price carbon and embrace clean energy, America sends another $100 million to Iran. That’s not a choice America can afford., he wrote”.
I encourage you to read the whole letter in The Hill newspaper and then read the Senate’s bill S. 1733: Clean Energy Jobs and American Power Act.
A Book to be Excited For
It’s not often that I anticipate the release of a new book. Very few writers really make me excited to spend several hours nose deep in their pages and propped up in bed fighting off sleep to finish the chapter.
Gregory Levey's New Book Cover, Free Press
That being said, my friend Gregory Levey has a new book coming out at the end of this summer, of which I saw the new cover today, and I’m encouraging everyone to place it on pre-order. The book is called, “How to Make Peace in the Middle East in Six Months or Less Without Leaving Your Apartment.” It’s an ambitious thought, but I am hopeful he offers some new and inventive solutions.
Greg is a very funny man who combines serious diplomatic and international political events with whit and comedic observances. His first book, a memoir of his time spent working for the Israeli Mission to the United Nations in New York, apply titled: Shut Up, I’m Talking: And Other Diplomacy Lessons I Learned in the Israeli Government, was published in April, 2008. It was filled with new places, new people, amazing situations and very strange human behavior. Since then, I’ve been waiting for more.
Greg did not pay me to do this, I just really want to read the new book! If you need a good book for the beach and enjoy political satire, I recommend his first before your get the second.
When currency is both at once worthless and treasured
On the 105 year-old bridge that separates Zimbabwe from Zambia, over the mist of Victoria Falls, a curious currency exchange is turning heads and delivering 1,000%+ returns.
During Zimbabwe's period of hyper-inflation, people had to carry bundles of currency with them to purchase goods.
To set the scene – in early 2009, after nearly a decade of runaway hyperinflation, Zimbabwe’s bank note denominations climbed sky high to include a 100 trillion dollar note. Since these bills were only worth about .33¢ in US Dollars, people regularly pulled wagons, suitcases and large bags of bills with them when they went to markets, restaurants and banks. Perhaps finally admitting the futile battle to save their national currency, the country’s Finance Minister announced that Zimbabweans were permitted to use other, more stable currencies (e.g. Sterling, Euro, South African Rand and the United States Dollar) to do business. As of April 12 2009, the Zimbabwe currency was effectively worthless.
President Robert Mugabe, despite ruling a country with vast potential in many business sectors, had run Zimbabwe into the ground. As the result of his devastating economic and social policies, Mugabe led Zimbabwe into the record books as Steve H. Hanke, Professor of Applied Economics at Johns Hopkins University and Senior Fellow at The Cato Institute writes, laying claim to second place in the world hyperinflation record books. (see chart)
Despite being monetarily worthless for over a year, Zimbabwe’s bank notes have found new value on the border being traded for their novelty value and sold to tourists. Asking price for the rarest bill, the $100 trillion dollar note, is $20 USD. Subsequent haggling and a bit of patience can bring the price lower to $5 USD. Still this is 15 times its last exchange value and Zimbabwean men crowd the border-crossing zone around Victoria Falls hoping to convert their worthless paper into foreign currency. The US Dollar is the preferred trade medium, but South African rand and Euro are also gladly accepted.
Click to view larger photo
Above all the other trinkets being hawked in the craft stalls and by the shifty street vendors who make you constantly check your pockets; the obsolete bank notes elicit the most interest and stir huddled conversations in Shona (the local language) when a buy offer is made. The selling price is collectively discussed by the Zimbabwe sellers, taking market factors like the nationality of the buyer, time of day, high-tourism season and amount of rare bills still left in their pockets. (10, 20 and 50 billion dollar bills are more common) The buyer has the upper hand, but the rarity of the top bills and the limited face time between the sellers and the tourists, who understandably sequester themselves inside Victoria Falls’ 4 star resorts, increases the pressure to cut a deal.
Zimbabwe border on bridge over Victoria Falls
While this exchange market won’t budge Zimbabwe’s GDP, it does provide a necessary source of foreign currency for otherwise unemployed locals. With the average annual income per person below $400 USD a year (IMF, World Economic Report, 4/2010) entrepreneurial currency traders can manage to earn above average incomes around $50 a week.
I could not resist the opportunity myself and bought 100,350,000,000,000 Zimbabwe dollars from two men for $10.00 USD. Its good to be a trillionaire.
