How climate change could trigger the next financial crisis
Come on folks, is that all you got? We are not done with the last financial crisis that has shown its ugly head in 2008. We have patched it over with some of the cheapest stop-gap measures central bankers could think up. In the end, Quantitative Easing is just a fancy word for printing worthless money. The size of the economies involved plus the China growth craze have clouded our mind plus most of us wanted it to be true, so we just excluded anything that did not conform with the rosy forecasts from our view. Its called self-deception. But the price is still to be paid. In Austria, as long as you order food at the restaurant, you won’t have to face the tab. But the tab won’t magically disappear – it just keeps building in the background until it crushes you. That’s what happens to our economies. The Climate scare is just one more iteration in this mad merry-go-round. More money, more growth, more bubbly projects, more fake numbers, more make belief, more … It’s not climate change that could trigger the next crisis – it’s the greedy fools that keep the alarmist wheel spinning that will do that.
After all, despite Wall Street humor about weather being a poor excuse for weak economic data, the pace of climate change is now clearly rapid enough to begin affecting economic forecasts. How long until forecasting gross domestic product depends crucially, fundamentally, on expected weather patterns?
