While the coverage of sycophantic major media outlets oscillates between rank hypocrisy and "hey at least it's good for the environment" stupidity, the WSJ says we're in for a lost decade of economic stagnation:

Once prosperity blows up, the quasi-virtuous policy circle becomes an unvirtuous one as new interest groups come to the fore to exploit an appetite, previously weak, to impose their costly or vindictive wish lists. And even well-meaning policy gets twisted and rendered incoherent... Mr. Obama's troops palpitate with excitement at the prospect of $1 trillion in "stimulus," though any net benefit to the economy likely will be incidental. Al Gore has thrown out the window any unpopular carbon taxes in favor of direct subsidies to his green energy investments. He sees the moment for what it is -- alarm about global warming has degenerated into a pretext. Billions will be diverted from useful purposes to create "green jobs" that deliver no meaningful impact on climate or the accumulation of atmospheric carbon.

Al Gore to noted climate scientist: "science is not going to intrude on public policy."

Back to geopolitics - and as much fun as it is to see a formerly schadenfreude-ridden world outrace us to the bottom - anyone else not excited about a militarily resurgent China hitting an economic wall? How about an economically devastated Russia that's now openly testing Obama after leaking that they were looking forward to kicking him around? Oh - and they're going to have 70 new nuclear missiles in the next three years.

And you thought that the "Ahmadinejad rebutting the Queen on British TV" post was going to be this morning's low point.

References and previously moved behind the jump...