Could Climate Crash the Economy?

February 14, 2020

A look at climate change’s threat to one of the pillars of the banking system – home mortgages and insurance.

21 Responses to “Could Climate Crash the Economy?”

  1. Not-in-my-name Says:

    Of course the climate cannot crash the economy but the ridiculous energy policies to fight a crisis that does not exist will certainly crash the western economies. Greta claims that the crisis is causing deaths. It is not. Deaths due to climate events have fallen rapidly, but they will rise if her beliefs are implemented. China and Asia meanwhile will continue to dominate the world. The west is finished, the sleeping dragon is awake.

    • ecoquant Says:

      Data, references, “Not-in-my-name”, not declarations. Proof that “Deaths due to climate events have fallen rapidly” please. And not some crocky reference from WUWT, please.

      $25 billion spent by the U.S. gov’t each year to repair because of storms?

      More by states?

      More by private sector?

      More by insurance?

      What happens to property values at the coasts when the U.S. government pulls out?

    • Sir Charles Says:

      Last not least => Climate change and disaster displacement

      Research indicates that the Earth’s climate is changing at a rate that has exceeded most scientific forecasts. Some families and communities have already started to suffer from disasters and the consequences of climate change, which has forced them to leave their homes in search of a new beginning.

      UNHCR recognizes that the consequences of climate change are extremely serious, including for refugees and other people of concern. The Global Compact on Refugees, adopted by an overwhelming majority in the UN General Assembly in December 2018, directly addresses this growing concern. It recognizes that ‘climate, environmental degradation and natural disasters increasingly interact with the drivers of refugee movements.’

    • rhymeswithgoalie Says:

      Deaths due to climate events have fallen rapidly…

      Well, the number of trees killed by the exploding population of pine bark beetles is going down because most of the vulnerable trees have already died. So you have that.

      Hey, anonymous drive-by: Got anything to show that you’re not just a disruptive Macedonian troll?

  2. Gingerbaker Says:

    “Could Climate Crash the Economy?”

    Half of the sci-fi / horror / post-apocalyptic pictures made anticipate this. And since they are all really documentaries from parallel universes, it’s not a question of “if” but “when”.

    Our economic, agrarian, communication, transportation, manufacturing, and distribution systems are highly complex and deeply inter-dependent. Complex systems can bend, but they also fall apart very quickly.

    If we are unlucky enough to experience a certain confluence of events, our children or grandchildren will experience this. Survivalists are not crazy – their time table is just premature.

    And Not-in-my-name? You will be among the first on the dinner platter if there is any justice in that new world.

  3. indy222 Says:

    Looks like the Russian/Trump trolls have returned for more pot-shots. Don’t they get, that that the same tactics they use on their Republicans websites don’t work here?
    — no citations of any journal studies
    — claims “proved by loud assertion” only

    The video is actually a piece from Biz-friendly / Trump-friendly CNBC’s housing guru.

    I’m waiting for the “Mars Attacks” moment when the country music explodes the heads of these idiots inside their reality-proof helmets.

  4. rabiddoomsayer Says:

    What economy will there be on a planet without humans? We are headed towards a climate that will threaten humanities existence. Crash the economy, crash civilization those may now be inevitable, but do we really want to go to our own extinction as well?

  5. redskylite Says:

    There is more to the economy than estate and home ownership, but as the 2007-2008 crisis showed it is a huge part. The previous global financial crisis was mostly started off by excessive risk taking by some banks, and from the video only short term risks seem to count, at least in the estate business.

    Obviously we do need to look further ahead and plan, plan, plan. – not everybody will be happy.

    “As sea level rise, a senior figure in the Environment Agency says he wants the country to start “difficult conversations” about which areas should be protected and which should not.”

  6. redskylite Says:

    The extreme ice loss caused more than three metres of average global sea level rise – and worryingly, it took less than 2˚C of ocean warming for it to occur.

  7. redskylite Says:

    Since the 1960s, when huge concrete embankments were built along many stretches of shore, several generations have grown up taking coastal protection for granted.

  8. redskylite Says:

    “We have understood the causes of climate change, and we’ve been warned about its impacts for decades. As we’ve seen this summer, the impacts are now impossible to ignore.”

  9. rabiddoomsayer Says:

    It plays now. Wouldn’t the first time “not available in your location”

  10. rhymeswithgoalie Says:

    The part of the video with the foreclosure auction reminded me that, like the many illegally re-sold flooded cars after Katrina, there will be people who buy the flooded homes to be prettied up and ultimately rented or re-sold without going to the extra expense of treating for hidden mold.

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