Skip to comments.How Climate Change Could Trigger the Next Global Financial Crisis
Posted on 08/01/2019 12:10:38 PM PDT by Oldeconomybuyer
A few years ago, Mark Carney, a former Goldman Sachs director who now leads the Bank of England, sounded a warning. Global warming, he said, could send the world economy spiraling into another 2008-like crisis. He called for central banks to act aggressively and immediately to reduce the risk of climate-related catastrophe, taking the warming planet as seriously as they would a cooling economy.
Adam Tooze, a history professor at Columbia University, knows quite a bit about central banks - and the Great Recession. Last year he published Crashed, an award-winning account of the 2008 collapse and its aftermath.
Now, Tooze asserts that the Fed needs to battle climate change in the same way. If the world is to cope with climate change, policymakers will need to pull every lever at their disposal, he writes. Faced with this threat, to indulge in the idea that central banks, as key agencies of the state, can limit themselves to worrying about financial stability is its own form of denial.
Jerome Powell, the Fed chairman, would not call himself a climate-change denier. Indeed, he is probably the most powerful person in the American government who affirms climate science. Yet he has taken a subdued approach to mitigating climate change. In April, in a letter to Senator Brian Schatz, Powell wrote that addressing climate change is a responsibility that Congress has entrusted to other agencies. The Federal Reserve, he added, is using its tools to prepare financial institutions for severe weather. In England, by contrast, Carney has convened 33 central banks to investigate how to green the financial system. According to Axios, every powerful central bank is working with him - except for Banco do Brasil and the Fed.
(Excerpt) Read more at amp.theatlantic.com ...
How this hoax could kill Western civilization while permitting China and India to pollute far more than the West.
Climate change will only hurt economies when needed money is redirected/stolen to fight the global warming hoax.
“[Electing Democrats to any office at any level, ever again], he said, could send the world economy spiraling into another 2008-like crisis.”
Fixed! MAGA! :)
I can’t get past the thread title.
I’ll get physically ill.
The man in the picture must have risen from the grave to give lessons.
Just stopping by to remind people that during WWII, Korea and Vietnam energy production and manufacturing were the #1 and #2 targets of strategic bombing.
The Left uses the fraud of anthropogenic global warming to attack Western civilization’s energy production and manufacturing.
Doesn’t really matter. ‘Climate science’ has declared we’re all gonna die within 10 years if the world doesn’t immediately stop using fossil fuels. Stupid idiots have now set an impossible deadline. Screw ‘em. Order up another round.
Global warming will make that unsightly bath tub ring harder to remove!
How climate change HYSTERIA could trigger the next global financial crisis (fixed it)
“How this hoax could kill Western civilization while permitting China and India to pollute far more than the West.”
That is exactly the unstated, but real objective.
The man in the photo never dreamed of the power of the democrat/communist media/entertainment/academia propaganda complex.
The sky is falling the sky is falling.
He would be in awe that a large part of the WORLD is in on it.
Not just one country
I’ve heard 140 private jets are flying from Los Angeles to Italy to discuss this probem at Google’s request
The enviroloonies are losing it. The world has been surviving climate change since the beginning of time. The only people who seem to have a problem are those who depend on government grants for their survival.
Someone or country pulled 550B out of the market in one day.
That is what tripped it in 2008.
Funny how no one ever bothered to find out who did it.
“WILL DEFINITELY trigger the next global financial crisis.”
It will trigger the next global financial crisis. There will be no taxpayer funds to steal. The whole world depends on that slush fund. Can’t have that.
One big thing that would cause a financial crisis is spending on intangibles.
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