Man in the Middle
Submitted By Todd on June 28th at 2:32pm
as a tax.
“It looks like we’re going to need more medicine, not less,” Buffett said today in a Bloomberg Television interview. “We’re going to have more unemployment. The recovery really hasn’t got going.”While the financial system has been stabilized, there's no economic turnaround taking place according to Buffet.
The economic rebound “will be a slow process,” said Buffett, who predicted the joblessness rate will exceed 10 percent. The economy “hasn’t turned yet. There’s no telling how long it will take. It will happen.”Under a cap-and-trade system, government sets a cap on the total amount of carbon that can be emitted nationally; companies then buy or sell permits to emit CO2. The cap gets cranked down over time to reduce total carbon emissions.