In one of my discussion yahoogroups, there is an exchange about when a new administration will fail or not. In this case, the administration of the new President of the Philippines which was inaugurated just two weeks ago.
I think one potential failure of the new Philippine government is huge borrowing due to climate alarmism. The Asian Development Bank (ADB) -- and WB, UN, EC, etc. -- climate alarmism is earning it (them) big money. To convince the RP govt to borrow $1B, or is it $10B to "fight global warming" is no different from a drug pusher, pushing loans to fight a non-existent enemy. Those are loans, not grants, that will be paid many years from now, and those are not just a few million $ loan but multi-billion $ loans.
For those wondering why I am so unconvinced about "man-made warming" scam and its implications -- ecological socialism, endless carbon taxation, endless environmental regulations, endless global climate meetings, endless climate bureaucracies being created, endless climate loans, etc., here's my recent compilation of short essays, including the scientific conference I attended in Chicago 2 months ago,
"Essays on Climate Alarmism", 20 pages,
http://www.minimalgovernment.net/media/mg_20100630.pdf
There are many ways to contribute to new government failures.
And foreign aid is one of them.
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