This morning an a local Chicago radio program more indications the Trump economy has already veered off the tracks, driven there by ideological rather than empirical advice from Heritage Foundation economic propagandist Stephen Moore. He again guaranteed reviving coal jobs in America, despite a reality that through economic rather than climate change realities analysts agree those jobs are gone forever. More went so far as to say that China was increasing its own output of coal by 25%. Not true.
China’s coal out put has declined year over year. The decline was more than 30% in 2015 according to Fortune magazine, and was already down by 11% against the 2015 numbers as of April 2016. That represents a decline of more than 40% in a 16 month period as China sought to balance pollution and economic concerns. China has advocated for a slight increase in output but as a means of stabilizing prices through the winter season where output is highest. The overall commitment to Green energy solutions, with more than $100 billion in Green energy investment. China’s solar capacity increased by 74%, while wind energy capacity increased by 34%
What makes the Trump/Moore so-called commitment to coal jobs so cruel, first is that it was simply a populist vehicle to pummel Hillary Clinton, after her ridiculous comments on coal jobs, which were rightly seen as a direct attack on miners. The truth is, however, that the economy increasingly is pulling away from the coal industry, which saw high profile bankruptcies, not do to so-called Climate Change alarmism, but instead market realities and ever increasing irrelevancy through divestment in an antiquated technology.
What More and Trump are proposing, instead is more big government and welfare handouts to mining communities better served by education, retraining and reinvestment to meet changing market realities. Essentially, they are pandering to the hopes or hopelessness of coal miners, and perhaps subsidizing coal company Trump donors, by pouring taxpayer money into the greatest money pit of our time. Maybe Trump is draining the Washington swamp only to refill a new one in coal country?