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Generational Dynamics Web Log for 12-Dec-2010
12-Dec-10 News -- Climate talks end with standing ovations

Web Log - December, 2010

12-Dec-10 News -- Climate talks end with standing ovations

Bolivia nationalizes pension funds, lowers retirement age to 58

Climate talks end with standing ovations

The Reuters report on Saturday's close of the climate talks in Cancun is "Climate Talks End With Modest Deal and Standing Ovation."

Actually, the "modest deal" was pretty much totally meaningless. The main element of the deal was the establishment of a $100 billion "Green Climate Fund," and everyone is supposed to donate money to this fund. I've reported on others of these funds, including disaster funds and funds for Africa, and they're all pretty much a joke. The $100 billion figure gets the headline, and then the fund is forgotten the next day.

But no matter. "Cancún has done its job," said UN climate chief Christiana Figueres. "The beacon of hope has been reignited and faith in the multilateral climate change process to deliver results has been restored."

And the delegates gave themselves a standing ovation for doing such a brilliant job.

Bolivia nationalizes pension funds, lowers retirement age to 58

Delegates from 139 nations signed the climate agreement, but not Bolivia. Bolivian President Evo Morales was the most theatrical of the politicians attending the Cancun conference, according to the Guardian. His entourage includes 15 colourfully dressed, bowler-hatted indigenous Aymara, an admiral in gold braid, teams of advisers and white-coated bodyguards, Mayan priests and ambassadors.

According to Morales, "It's easy for people in an air-conditioned room to continue with the policies of destruction of Mother Earth. We need instead to put ourselves in the shoes of families in Bolivia and worldwide that lack water and food and suffer misery and hunger. People here in Cancún have no idea what it is like to be a victim of climate change."

Whether accidentally or by plan, there was other big news from Bolivia this weekend. Morales has just signed a law nationalizing Bolivia's pension funds, and lowers the retirement age from 65 to 58, according to the BBC.

This is the reversal of a previous change. Bolivia privatized pension funds 13 years ago after a state-run system collapsed. Whether in Cancun or Bolivia, the inmates are running the asylum.

(Comments: For reader comments, questions and discussion, see the 12-Dec-10 News -- Climate talks end with standing ovations thread of the Generational Dynamics forum. Comments may be posted anonymously.) (12-Dec-2010) Permanent Link
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Generational Dynamics Web Log for 12-Dec-2010 12-Dec-10 News -- Climate talks end with standing ovations

Climate talks end with standing ovations

Bolivia nationalizes pension funds, lowers retirement age to 58

Web Log Pages

Generational Dynamics Web Log for 12-Dec-2010
12-Dec-10 News -- Climate talks end with standing ovations