Rogoff’s Global Carbon Tax – Give the Money to China

QUESTION: Mr. Armstrong; What do you think about Harvard Professor Kenneth Rogoff who advocates a global carbon tax and then takes that money and hand it to China to subsidize them ending coal to generate electricity?

I think he has lost his mind.

HC

ANSWER: This is why major institutions have ZERO respect for academics. They have no concept of the real economy because they have never had to actually roll up their sleeves and deal with a crisis. They have never seen firsthand how capital actually moves. They also see people as an endless source of taxes. Just unbelievable.