E Why You Should Take The Green New Deal Seriously

While outrage is an extreme sport in Washington these days, there certainly was no shortage of emotional energy both for and against the New Green Deal. For those who don’t know, this is a proposed piece of legislation designed to move the country quickly towards a fully green future with social justice for all.

Since I am an investment guy, you won’t get any politics from me here.  However, there are indeed serious problems with the proposal, not the least of which is the timeline for its implementation. While it does not make sense to me to overhaul the entire economy in one fell swoop and pay extreme amounts of money to do it, anyone worried about how to invest under this plan has one very important point to consider.

While I doubt all or even some of the proposal will ever become law, investors in securities, companies, and policies still need to heed the clarion call of the green movement.

No matter what your personal view on climate change may be or which scientists you follow, the trend in the business world is towards reducing carbon in the atmosphere. It should not matter if humans are causing global warming or not. The fact that millions of people believe it is all you need to know.

Before you get too angry with my characterization, I am not denying (or confirming) climate change. I am all about making money if you are an investor or business owner. Or, if you are a politician, you are all about getting re-elected. Yeah, I’m brutal on that but that’s what it is. And if you want to get re-elected, you must take the pulse of your constituency. I would say that most people and businesses would like a green future, as long as it does not impact their way of life.

That’s the key. How does going green impact regular Joe? Don’t forget, regular Joe, and Jane, are more likely focused on keeping food on the table and roofs over their heads. A pickup truck is the lifeblood of many working people. So, tripling their electric rates in the name of climate change isn’t going to fly. But an electric car that gets me to work and the mall in comfort for a reasonable cost is a good idea. So is free electric power from the sun, as long as I know there is a backup plan for cloudy days and I don’t have to take a second job to pay for it.

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Disclosure: No positions in anything covered.

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Comments

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Gary Anderson 1 month ago Contributor's comment

I can't see it. It has already been subsidized and people don't seem to want it. Let the other guy pay for green is the practical truth. JMO.

Michael Kahn 1 month ago Author's comment

You missed the point of the piece. It had nothing to do with supporting the NGD but rather in identifying a trend already in place.

Gary Anderson 1 month ago Contributor's comment

Yes, I see that. I just see backlash to the trends everywhere. From Yellow Vests to weakness in the Democrats. I hope they eliminate Trump, but once they do the focus will be on them. If they stray from the center and go left they will be crushed again.

Farah Kincaid 1 month ago Member's comment

The New Green Deal is a nice idea... just not particularly realistic.