Water has been sold to the public. Fictitious capital has been sold to the public. And now a lot of hot air is being sold to the public, literally.
The newly passed cap and trade bill in Congress will suck out the remaining industrial output of America. The bill, over 1000 pages, was not read by politicians, nor was it even mentioned in the public forum, other than it's passing. Proponents of the law market it as crucial environmental regulation, but it is nothing of the sort, just as the patriot act wasn't about security or fighting terrorism.
The passage of the bill amounts to a further deindustrialization of America. Matt Taibbi, who recently exposed the clandestine operations of Government Sachs throughout the firm's hisotry in Rolling Stone, calls the law "a windfall for Wall Street," because it basically creates a new commodities market in which the companies that pushed for the law will stand to profit enormously.
