In his classic America’s Great Depression, Murray Rothbard pointed out that if governments increase their burdens on society, then such actions make an economic downturn worse. Obama has decided to do just that with his recent actions on regulating carbon dioxide. No doubt, his actions are going to make him very popular on the left, but it also is one more death knell for the economy.

It is stunning for me to see just how quickly the situation has deteriorated in this country. Environmentalists finally have the regime they have wanted, and from what I can see, Obama does not want to disappoint. In the meantime, we will have the government’s silly and useless war on carbon dioxide, which is guaranteed to make all of us poorer. Then, when we become poorer, the cries for government to act will become louder, and then Obama and Congress will do those things that make the depression worse — in the name of “stimulus” and “creating jobs,” of course. And private enterprise will get the blame. Welcome to the New Dark Ages.