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AOC’s ‘New Green Deal’ Is Stunningly Absurd

Summary:
Rep. Alexandria Ocasio-Cortez (AOC) released her bill for a “Green New Deal”. It’s stunningly absurd.Today AOC released her New Green Deal Proposal. It’s a wish list of socialist and green ideas, most of which are obviously absurd to all but the most economically clueless persons. It has zero chance of passage and it’s nonbinding, but here are some of the key ideas. Upgrade all existing buildings in the US 100% clean power Support family farms Universal access to healthy food Zero-emission vehicle infrastructure Remove greenhouse gasses form the atmosphere Eliminate unfair competition Affordable access to electricity Create high-quality union jobs that pay prevailing wages Guaranteeing a job with a family sustaining wage,

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Rep. Alexandria Ocasio-Cortez (AOC) released her bill for a “Green New Deal”. It’s stunningly absurd.
Today AOC released her New Green Deal Proposal. It’s a wish list of socialist and green ideas, most of which are obviously absurd to all but the most economically clueless persons. It has zero chance of passage and it’s nonbinding, but here are some of the key ideas.

  1. Upgrade all existing buildings in the US
  2. 100% clean power
  3. Support family farms
  4. Universal access to healthy food
  5. Zero-emission vehicle infrastructure
  6. Remove greenhouse gasses form the atmosphere
  7. Eliminate unfair competition
  8. Affordable access to electricity
  9. Create high-quality union jobs that pay prevailing wages
  10. Guaranteeing a job with a family sustaining wage, adequate family and medical leave, paid vacations, and retirement security to all people of the United States

Here are a couple of comments from Twitter.

Fyre Festival of Legislative Proposals

As Bad as Expected

No, it was far worse. Perhaps Heritage is more imaginative than I am.

Revenge of the Millennials

Bloomberg writer Karl W. Smith calls it Revenge of the Millennials

Almost every major new economic initiative proposed by Democrats — the Green New Deal, Medicare for all, debt-free college — has a common feature: Unlike most current social programs, it would benefit younger Americans at the expense of older Americans.

Now, finally, it seems that they have had enough. They want to use fiscal policy to help repair the damage wrought by monetary policy. This isn’t necessarily the way I would address the issue; I would argue for fixing monetary policy instead of spending vast additional sums to support a new suite of government entitlements. I am certainly sympathetic, however, to those who think otherwise.

Smith is mistaken. This proposal sounds just like the lofty socialist goals of Castro, Chavez, Maduro, and Mugabe (Cuba, Venezuela, Venezuela, and Zimbabwe).

Implementing AOC’s plan would do just what Stukey suggested to which I add:

If someone blows off your left arm with a shotgun, it’s best not to blow your right arm off as “revenge”.

Reprinted with permission from Mish’s Global Economic Trend Analysis.

Mike Mish Shedlock
Mike "Mish" Shedlock is a registered investment advisor representative for SitkaPacific Capital Management. Sitka Pacific is an asset management firm whose goal is strong performance and low volatility, regardless of market direction.

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