Allen B. West

Whoa: You won’t believe what America’s richest man thinks about American capitalism

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The nation’s wealthiest man has come out against capitalism. Yes, Bill Gates seems to think the very system of economics that made him so rich is the worst system in the world to innovate and change how we live our daily lives.

First of all, you need to understand that Mr. Gates has become a full-blown Green Energy wonk. Also keep in mind that the company he founded and led for years is responsible for a tremendous increase in energy consumption.

Computers and computer-related devices and equipment are some of the biggest consumers of energy in the world today. And Bill Gates and his company Microsoft, made this possible by making these devices more mainstream and invaluable for business and personal use.

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Yet, Gates seems to think the only way to make green energy mainstream is to go Socialist! Clearly, Gates knows the free market isn’t interested in it, so we’ll need government to shove it down our throats.

During an interview with The Atlantic, Gates said, “There’s no fortune to be made. Even if you have a new energy source that costs the same as today’s and emits no CO2, it will be uncertain compared with what’s tried-and-true and already operating at unbelievable scale and has gotten through all the regulatory problems.

Without a substantial carbon tax, there’s no incentive for innovators or plant buyers to switch.

Since World War II, US-government R&D has defined the state of the art in almost every area. The private sector is in general inept.

The climate problem has to be solved in the rich countries. China and the US and Europe have to solve CO2 emissions, and when they do, hopefully they’ll make it cheap enough for everyone else.”

According to the Institute for Energy Research in an August 2014 report, the nation that touted green energy the most failed miserably.

Spain tried to increase its green energy production and output using the same system Gates is pushing, and failed big time. In fact according to the IER, Spain had an increase in energy cost which its customer and business base could not afford.

Electricity prices have skyrocketed, unemployment is over 25 percent, and youth unemployment is over 50 percent.

Perhaps Mr. Gates wants to corner the green energy market like Al Gore attempted to do with his Carbon Credits and Carbon Trading scheme.

Or maybe he wishes to try his hand at this energy takeover in a T. Boone Pickens- style when the energy billionaire tried to corner the wind turbine market in Texas.
We know both of those schemes failed big time.

In Spain and other nations trying to use this technology, the costs are still high and the only people who win are those who own the systems. But they win at the expense of us, the consumers.

The difference with the Gates plan is that there will be another big winner in this: the government, in the form of higher taxes and higher fees to consumers and a higher cost of entry for new and more innovative startup companies.

And that will NOT build a new alternative energy market.

Money doesn’t buy happiness, but apparently it doesn’t buy common sense either.

[Note: This article was written by Rod Eccles]

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