Rupert Murdoch links regulations, climate change ‘nonsense’ to global financial turmoil

Posted at 9:09 AM, Aug 27, 2015
and last updated 2015-08-27 09:09:43-04

(CNN) — Media mogul Rupert Murdoch took to Twitter Wednesday night to weigh in on the recent volatility in global financial markets, calling small business “the only hope for growth” while decrying the regulatory obstacles standing in its way — and pointing a finger at climate change “alarmist nonsense.”

Hours after a dramatic rebound among Wall Street stock exchanges that followed days of massive losses triggered by a cratering Chinese economy, Murdoch offered, “So markets bounce. Too much cash looking for a home. Far too few prepared to invest and employ.”

“Small business,” he argued, is “the only hope for growth.” But the business magnate suggested that such growth is unlikely.

“Global growth dangerously low. Blame politicians’ layers of regulations. Too hard,” he tweeted, adding “US federal regs 170,000 pages before states & cities.”

Murdoch is a regular critic of what he says are excessive and outdated government regulations, and in his tweets he focused the criticism specifically on rules related to climate change.

“In the last 3 decades carbon in US air has reduced by nearly 50%,” he observed, adding that he is “A climate change skeptic not a denier.”

But he proceeded to blast climate change activists, saying “Sept UN meets in NY with endless alarmist nonsense from u know whom! Pessimists always seen as sages.”

The 70th session of the United Nations General Assembly is scheduled to open in New York City on September 15. One of the main themes expected to be discussed is environmentally sustainable development, with an eye toward the United Nations Climate Change Conference scheduled for the end of the year in Paris.