Contrary to common sense, we could experience booming GDP and stock market valuations all the way to society’s imminent collapse.
As we reel from one natural disaster after another—hurricanes Harvey, Irma, Maria, wildfires in California—climate scientists explain how they’re not really “natural” at all. They’re the anticipated consequence of a breakdown in the world’s climate, one that will become far more extreme as global temperatures rise from the current 1° Celsius above historic norms to 1.5° (perhaps within ten years) and then 2° potentially as early as twenty years from now.
Devastation from California wildfires: perversely, this will have a positive impact on GDP ©George Rose | Getty Images
With headlines proclaiming the dire effects of these disasters on local economies, it might seem reasonable to believe that the power-brokers of our economic system—investors, CEOs, Federal Reserve policymakers—will eventually recognize the danger and wield their financial might to shift…
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