<html><head><meta http-equiv="Content-Type" content="text/html; charset=utf-8"></head><body style="word-wrap: break-word; -webkit-nbsp-mode: space; line-break: after-white-space;" class=""><a href="https://www.cjr.org/special_report/montana-midterms-dark-money.php/" class="">https://www.cjr.org/special_report/montana-midterms-dark-money.php/</a><div class=""><br class=""><div class="">
<div style="caret-color: rgb(0, 0, 0); color: rgb(0, 0, 0); font-family: "Times New Roman"; font-size: 14px; font-style: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; background-color: rgb(255, 255, 255); text-decoration: none; margin: 0px; font-stretch: normal; line-height: normal;" class=""><span style="-webkit-font-kerning: none;" class=""><br class="Apple-interchange-newline">=====================</span></div><div style="caret-color: rgb(0, 0, 0); color: rgb(0, 0, 0); font-family: "Times New Roman"; font-size: 14px; font-style: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; background-color: rgb(255, 255, 255); text-decoration: none; margin: 0px; font-stretch: normal; line-height: normal;" class=""><span style="-webkit-font-kerning: none;" class="">“Booms have consequences.”</span></div><div style="caret-color: rgb(0, 0, 0); color: rgb(0, 0, 0); font-family: "Times New Roman"; font-size: 14px; font-style: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; background-color: rgb(255, 255, 255); text-decoration: none; margin: 0px; font-stretch: normal; line-height: normal;" class=""><span style="-webkit-font-kerning: none;" class=""><br class=""></span></div><div style="caret-color: rgb(0, 0, 0); color: rgb(0, 0, 0); font-family: "Times New Roman"; font-size: 14px; font-style: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; background-color: rgb(255, 255, 255); text-decoration: none; margin: 0px; font-stretch: normal; line-height: normal;" class=""><span style="-webkit-font-kerning: none;" class="">James Grant. <i class="">Money of the Mind : Borrowing and Lending in America from the Civil War to Michael Milken.</i> Farrar Straus Giroux. 1992.</span></div><div style="caret-color: rgb(0, 0, 0); font-family: "Times New Roman"; font-size: 14px; font-style: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; background-color: rgb(255, 255, 255); text-decoration: none; margin: 0px 0px 0.1px; font-stretch: normal; line-height: normal; color: rgb(34, 34, 34);" class=""><span style="-webkit-font-kerning: none;" class="">——————————————————————————</span></div><div style="caret-color: rgb(0, 0, 0); font-family: "Times New Roman"; font-size: 14px; font-style: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; background-color: rgb(255, 255, 255); text-decoration: none; margin: 0px 0px 0.1px; font-stretch: normal; line-height: normal; color: rgb(34, 34, 34);" class=""><span style="-webkit-font-kerning: none;" class=""><br class=""></span></div><div style="caret-color: rgb(0, 0, 0); color: rgb(0, 0, 0); font-family: "Times New Roman"; font-size: 14px; font-style: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; background-color: rgb(255, 255, 255); text-decoration: none; margin: 0px; font-stretch: normal; line-height: normal;" class="">“The growth in CO2 emissions closely follows the growth in Gross Domestic Product (GDP) corrected for improvements in energy efficiency.”</div><div style="caret-color: rgb(0, 0, 0); color: rgb(0, 0, 0); font-family: "Times New Roman"; font-size: 14px; font-style: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; background-color: rgb(255, 255, 255); text-decoration: none; margin: 0px; font-stretch: normal; line-height: normal; min-height: 16px;" class=""><br class=""></div><div style="caret-color: rgb(0, 0, 0); color: rgb(0, 0, 0); font-family: "Times New Roman"; font-size: 14px; font-style: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; background-color: rgb(255, 255, 255); text-decoration: none; margin: 0px; font-stretch: normal; line-height: normal;" class="">P. Friedlingstein, et al. “Update on CO2 emissions.” </div><div style="caret-color: rgb(0, 0, 0); color: rgb(0, 0, 0); font-family: "Times New Roman"; font-size: 14px; font-style: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; background-color: rgb(255, 255, 255); text-decoration: none; margin: 0px; font-stretch: normal; line-height: normal;" class=""><i class="">Nature Geoscience. </i>Published online: 21 November 2010</div><div style="caret-color: rgb(0, 0, 0); color: rgb(0, 0, 0); font-family: "Times New Roman"; font-size: 14px; font-style: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; background-color: rgb(255, 255, 255); text-decoration: none; margin: 0px 0px 0.1px; font-stretch: normal; line-height: normal;" class=""><span style="-webkit-font-kerning: none;" class="">~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~</span></div><div style="caret-color: rgb(0, 0, 0); color: rgb(0, 0, 0); font-family: "Times New Roman"; font-size: 14px; font-style: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; background-color: rgb(255, 255, 255); text-decoration: none; margin: 0px 0px 0.1px; font-stretch: normal; line-height: normal;" class=""><span style="-webkit-font-kerning: none;" class=""><br class=""></span></div><div style="caret-color: rgb(0, 0, 0); font-family: "Times New Roman"; font-size: 14px; font-style: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; background-color: rgb(255, 255, 255); text-decoration: none; margin: 0px 0px 0.1px; font-stretch: normal; line-height: normal; color: rgb(34, 34, 34);" class=""><span style="-webkit-font-kerning: none;" class="">In a July, 2001 editorial, <i class="">The Economist </i>said that “It is no coincidence that the deepest and most protracted recessions in recent decades have taken hold in countries that experienced booms ...” </span></div><div style="caret-color: rgb(0, 0, 0); color: rgb(0, 0, 0); font-family: "Times New Roman"; font-size: 14px; font-style: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; background-color: rgb(255, 255, 255); text-decoration: none; margin: 0px; font-stretch: normal; line-height: normal;" class="">————————————————————————————————</div><div style="caret-color: rgb(0, 0, 0); color: rgb(0, 0, 0); font-family: "Times New Roman"; font-size: 14px; font-style: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; background-color: rgb(255, 255, 255); text-decoration: none; margin: 0px; font-stretch: normal; line-height: normal;" class=""><br class=""></div><div style="caret-color: rgb(0, 0, 0); color: rgb(0, 0, 0); font-family: "Times New Roman"; font-size: 14px; font-style: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; background-color: rgb(255, 255, 255); text-decoration: none; margin: 0px; font-stretch: normal; line-height: normal;" class="">“Changes in world GDP (WGDP) have a significant effect on CO2 concentrations, so that years of above-trend WGDP are years of greater rise of CO2 concentrations.”</div><div style="caret-color: rgb(0, 0, 0); color: rgb(0, 0, 0); font-family: "Times New Roman"; font-size: 14px; font-style: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; background-color: rgb(255, 255, 255); text-decoration: none; margin: 0px; font-stretch: normal; line-height: normal; min-height: 16px;" class=""><br class=""></div><div style="caret-color: rgb(0, 0, 0); color: rgb(0, 0, 0); font-family: "Times New Roman"; font-size: 14px; font-style: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; background-color: rgb(255, 255, 255); text-decoration: none; margin: 0px; font-stretch: normal; line-height: normal;" class="">Granados et al. Climate change and the world economy: short-run determinants of atmospheric CO2. <i class="">Environmental science & policy</i> 21 (2012) 50–62</div><div style="caret-color: rgb(0, 0, 0); color: rgb(0, 0, 0); font-family: "Times New Roman"; font-size: 14px; font-style: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; background-color: rgb(255, 255, 255); text-decoration: none; margin: 0px 0px 0.1px; font-stretch: normal; line-height: normal;" class=""><span style="-webkit-font-kerning: none;" class="">————————————————————————————————</span></div><div style="caret-color: rgb(0, 0, 0); color: rgb(0, 0, 0); font-family: "Times New Roman"; font-size: 14px; font-style: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; background-color: rgb(255, 255, 255); text-decoration: none; margin: 0px 0px 0.1px; font-stretch: normal; line-height: normal;" class=""><span style="-webkit-font-kerning: none;" class=""><br class=""></span></div><div style="caret-color: rgb(0, 0, 0); color: rgb(0, 0, 0); font-family: "Times New Roman"; font-size: 14px; font-style: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; background-color: rgb(255, 255, 255); text-decoration: none; margin: 0px; font-stretch: normal; line-height: normal;" class=""><span style="-webkit-font-kerning: none;" class="">“Access to more capital makes bigger crises feasible; every now and then, somewhere in the world, one is going to happen. </span></div><div style="caret-color: rgb(0, 0, 0); color: rgb(0, 0, 0); font-family: "Times New Roman"; font-size: 14px; font-style: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; background-color: rgb(255, 255, 255); text-decoration: none; margin: 0px; font-stretch: normal; line-height: normal; min-height: 16px;" class=""><span style="-webkit-font-kerning: none;" class=""></span><br class=""></div><div style="caret-color: rgb(0, 0, 0); color: rgb(0, 0, 0); font-family: "Times New Roman"; font-size: 14px; font-style: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; background-color: rgb(255, 255, 255); text-decoration: none; margin: 0px; font-stretch: normal; line-height: normal;" class=""><span style="-webkit-font-kerning: none;" class="">“Is this because the same mistakes are made again and again, or is each crisis unique? The answer is yes to both: each crisis is unique, and the same mistakes are made again and again.”</span></div><div style="caret-color: rgb(0, 0, 0); color: rgb(0, 0, 0); font-family: "Times New Roman"; font-size: 14px; font-style: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; background-color: rgb(255, 255, 255); text-decoration: none; margin: 0px; font-stretch: normal; line-height: normal;" class=""><span style="-webkit-font-kerning: none;" class=""><br class=""></span></div><div style="caret-color: rgb(0, 0, 0); color: rgb(0, 0, 0); font-family: "Times New Roman"; font-size: 14px; font-style: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; background-color: rgb(255, 255, 255); text-decoration: none; margin: 0px; font-stretch: normal; line-height: normal;" class=""><span style="-webkit-font-kerning: none;" class="">The Economist, “A cruel sea of capital : A survey of global finance,” May 3<sup class="">rd</sup>, 2003.</span></div><div style="caret-color: rgb(0, 0, 0); color: rgb(0, 0, 0); font-family: "Times New Roman"; font-size: 14px; font-style: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; background-color: rgb(255, 255, 255); text-decoration: none; margin: 0px; font-stretch: normal; line-height: normal;" class=""><span style="-webkit-font-kerning: none;" class="">——————————————————————————————</span></div><div style="caret-color: rgb(0, 0, 0); color: rgb(0, 0, 0); font-family: "Times New Roman"; font-size: 14px; font-style: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; background-color: rgb(255, 255, 255); text-decoration: none; margin: 0px; font-stretch: normal; line-height: normal;" class=""><span style="-webkit-font-kerning: none;" class=""><br class=""></span></div><div style="caret-color: rgb(0, 0, 0); font-family: "Times New Roman"; font-size: 14px; font-style: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; background-color: rgb(255, 255, 255); text-decoration: none; margin: 0px 0px 0.1px; font-stretch: normal; line-height: normal; color: rgb(34, 34, 34);" class=""><span style="-webkit-font-kerning: none;" class=""> “I have simply tended to be negative about booms,” investments guru Marc Faber told <i class="">Asiaweek </i>magazine in a February 2001 interview, because booms “easily turn into bubbles that become bigger and go bust.” </span></div>
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