Facing The Harsh Reality Of Our Unsustainable Status Quo

Not since Hitler offered his solution to the despair of the great depression has civilized society faced such clear signs of serious danger.  Unlike that era, in which complex problems could be somewhat simplified in a focus on the persona of an evil man, the problems the world face today reflect the accumulated irresponsibility of a short sighted world view that has predominated modern culture for generations. Simple answers of good and evil don’t suffice. The harsh reality of historic flagrant irresponsibility is coming to a crescendo.

The tyrannical stability in the Middle East, that has under girded the western world’s dependency on cheap petroleum for decades, is being reconciled with the aspirations for freedom that our foreign policy rhetoric has encouraged, as the entire mid-east explodes with demands for legitimate governance and a just economy. As we launch yet another war in a Muslim country, the conflicted history of our “national interest” becomes increasingly clear, while the future of the petroleum supply to which our society is addicted becomes increasingly murky.

At the same time, the economic crises in Europe and America escalate with the risk of municipal, state and national insolvency increasing around the world. Large European financial institutions are lining up for more bailouts, while the ever more political power and wealth is concentrated in the “too big to fail” banks in the US.  The Federal Reserve is desperately propping up the bond market with irresponsible levels of  “Quantitative Easing” that will inevitably lead to high inflation, a significant increase in interest rates and greater challenges in funding future US treasury debt. The Fed also continues to accumulate the risk of the speculative endeavors of Wall Street as liabilities for the federal tax payers.

Meanwhile in congress, Democratic Party “leaders” argue the federal government should be spending $1.6 trillion more than it takes in, while the Republican “leaders” condemn the Democrats irresponsibility arguing we should only be burdening our children with $1,5 trillion in additional unsustainable annual debts to support the short term spending they can’t get under control.

With the recent earthquake and tsunami, the fantasy of safe nuclear power has been exposed, as the Fukushima nuclear disaster unfolds in the most technologically advanced and emergency prepared nation in the world.

Reading the news, there seems to be so many serious problems all at once and one has to wonder why there seems to be so few responsible leaders insisting on credible solutions.

Government spending can’t exceed revenues for long. Promising entitlements without realistic means of paying for them is neither kind or compassionate, but rather foolishly cruel and irresponsible, since those promises can’t be kept.  Merely calling it “investment” does not turn unsustainable spending into anything other than what it is.  True investments have realistically profitable projected returns. Unless someone can show how their suggested “investments” will provide significant financial returns and reduce the need for future taxes and spending, we should insist on a balanced budget every year, through reduced spending or increased taxation. We can’t afford more empty promises for a postponed mythical future responsibility based on unrealistic projections.

In a little over a hundred years, we have burned through about half the world’s petroleum and other fossil fuels reserves that have taken hundreds of millions of years to form. Do the math. How sustainable could that be? Even if fossil fuel reserves end up being many times those known today, we cannot pretend that future generations will benefit from the luxuries our generation has enjoyed through wastefully burning through so much of the world’s richest concentrated sources of energy. Our society can no longer allow energy companies to value these resources at the mere cost of extracting them from the ground, or even less with the insane subsidies that governments provide. We have to consider the value to society these stored resources represent and include that value in pricing the use of fossil fuels. What’s the right price? Hard to say. But if it will take another hundred million years to replace them, that price sure should be a heck of a lot higher than it is today. And the value shouldn’t go entirely to a few companies just because they have a permit to mine or drill.

Resources that have taken hundreds of millions of years to form should be treated as an annuity for society to be valued in a manner that accrues to many future generations. Like the massive debt being incurred to support our excessive government spending today, the waste of fossil fuels at unjustifiable and unsustainable low prices represents blatant theft from our children.

As for the chimera of safe inexpensive nuclear power, the evolving mess in Fukushima is once again highlighting the sheer lunacy of using such dangerous technology for producing electricity. After decades of research and compromise focused on Yucca mountain as the sole depository in the nation for nuclear waste, in order to garner the political support of Harry Reid for some short term policy initiatives, President Obama ended consideration of the Yucca Mountain project, abandoning the only option for nuclear waste disposal the US has ever seriously considered. Now and for the foreseeable future, like the waste causing problems at Fukushima, our nuclear waste is accumulating in temporary pools at nuclear power plants around the country, with no plan at all for what to do with materials that even nuclear proponents agree will be highly dangerous for thousands of years. Those waste pools, like the reactors themselves, remain attractive targets for terrorists and some will be casualties in the next not quite adequately predicted natural disaster or the inevitable accident caused by human error, aging equipment or some other unexpected factor. Even if nukes weren’t dangerous on their own, nuclear power is the perfect cover and  materials resource for the proliferation of weapons of mass destruction, both for rouge nations and terrorist organizations.

Perhaps the thing most crazy about nuclear power is that the nuclear industry is not remotely cost effective, so the federal government continues to subsidize nukes in all sorts of overt as well as indirect ways.  With the Price Anderson Act, the government absolves this most dangerous industry in the world from the need to cover its own liabilities with insurance in the manner that every other US business does. Without Price Anderson’s unjustifiably shielding an entire industry from responsibility for its real liabilities, no insurer would insure the industry, no investor would give nuclear power even the slightest consideration and the existing nuclear plants would be shut down instantly. No private investor considers nuclear power without the other huge subsidy of giant loan guarantees from the federal government. Meanwhile the nuclear industry’s research and development is funded almost entirely by tax payers.

As the federal government allows fossil fuels that took hundreds of millions of years to form to be squandered in a geological blink of the eye, while it subsidizes a nuclear industry that proliferates nuclear weapons, terrorist targets and the most toxic and radioactive byproducts known to science, we are told that solar and wind energy are not economically competitive. But wind and solar are actually very affordable and low cost in any sensible economic calculation that accounts for the real costs and values of the alternatives. While we squander billions in subsidies to fossil fuels and nuclear power while risking our credibility, the financial viability of our government and the lives of our brave troops in overseas wars to protect this Kafkaesque status-quo, we are told putting a real price on all these “economic externalizes” of our current unsustainable system is just impossible.

We are rapidly approaching the time we have to face the harsh reality that rather than sensible policy solutions that we are told are politically impossible,  it is in fact sustaining our current insane paths in energy and finance that is actually going to be impossible to justify or sustain.

How have these blatant and cruel abuses of our own children come to be accepted conventional public policy? Irresponsible politics is simply failing us. Unless we make some hard choices and real changes, our children face a future of deprivation, economic collapse and armed conflict throughout the world. Politicians who continue to believe they can spout empty platitudes while postponing hard decisions until after their next elections don’t deserve any consideration at all for re-election. The hard problems our nation and our world face need serious solutions now.

The politician that gets my vote is the one who is willing to develop a credible plan to repeal the Price Anderson Act, shut down the nuclear power industry, put a serious tax on fossil fuels while removing taxes on work and productive investment, end the wars and close most our over seas military bases, completely balances the federal budget, break up the “too big to fail banks” and make serious realistic reform to the unsustainable false promises that Social Security, Medicare, Medicaid and other social programs represent.

Hard stuff? – You bet. Disruptive? – No question. Can it all happen over night? – No way. But we have to start these hard conversations and address these hard policy questions in a credible manner – Now.

My college aged kids think I am an unrealistic  idealist for even suggesting such radical changes, even while agreeing that they make more sense than the current status quo. But it is increasingly clear to me that if my generation doesn’t act with some self constraint, their generation and my grandchildren will suffer a very diminished future.

There is a fundamental priority coded in the DNA of all life that creates opportunity for the next generation and for the future of the species. The selfish abandon with which we squander resources today and burden our children’s future has become like a cancer of immoral irresponsibility in our society. It is as if we have lost hold of the most basic premise and purpose of life itself.

We need to rediscover and commit to our moral obligation to future generations and make some very hard decisions as a nation. All sides need to just stop the political grandstanding and get serious. We need real leaders offering courageous calls for meaningful change.

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2 Comments

Filed under Best Stuff, Economic Policy, Environmentalism, Fundamental Perspectives, Uncategorized

2 responses to “Facing The Harsh Reality Of Our Unsustainable Status Quo

  1. bill

    Fred,
    thanks for a sobering summation of our current situation. Seems bad, doesn’t it.

    Bill

  2. fredunger

    Bill,

    As a doctor, you know that the first step toward a cure is identifying and acknowledging the problem.

    Fred

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