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Climate change could cause the next financial meltdown
The Virginian Pilot ^ | January 23, 2020 | by Jack Ewing, The New York Times

Posted on 01/24/2020 6:07:30 AM PST by Oldeconomybuyer

Climate change has already been blamed for deadly bush fires in Australia, dying coral reefs, rising sea levels and ever more cataclysmic storms. Could it also cause the next financial crisis?

A report issued this week by an umbrella organization for the world’s central banks argued that the answer is yes, while warning that central bankers lack tools to deal with what it says could be one of the biggest economic dislocations of all time.

The book-length report, published by the Bank for International Settlements in Basel, Switzerland, signals what could be the overriding theme for central banks in the decade to come.

“Climate change poses unprecedented challenges to human societies, and our community of central banks and supervisors cannot consider itself immune to the risks ahead of us,” François Villeroy de Galhau, governor of the Banque de France, said in the report.

Central banks spent much of the past 10 years hauling their economies out of a deep financial crisis that began in 2008. They may well spend the next decade coping with the disruptive effects of climate change and technology, the report said.

(Excerpt) Read more at pilotonline.com ...


TOPICS: Business/Economy; Culture/Society; News/Current Events; Politics/Elections
KEYWORDS: globalwarming; hoax; propaganda; socialism
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To: Oldeconomybuyer
“Climate change has already been blamed for ..”

It turned me into a newt!

21 posted on 01/24/2020 6:37:32 AM PST by NativeSon ( What Would Virginia Do? #WWVD)
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To: Oldeconomybuyer
Climate change is real. Over the course of the next billion years, the sun will slowly grow and get hotter as its fusion process causes iron to accumulate at the core. The Earth's oceans will boil away and life on this planet, except for a few bear tardigrades and viruses, will cease.

But over the course of the next few millions of years, expect the climate to change from warm to glacial to warm to glacial...etc.

I wouldn't panic just yet. You're more likely to die in another ice age in the coming decades than from too many plants growing in northern latitudes.

22 posted on 01/24/2020 6:38:40 AM PST by Sirius Lee (They are openly stating that they intend to murder us. Prep if you want to live.)
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To: Oldeconomybuyer
Climate change has already been blamed for deadly bush fires in Australia, dying coral reefs, rising sea levels and ever more cataclysmic storms.

I have lost much of the hair on the top of my head. I used to blame my bald father, but now I'm beginning to rethink that. Perhaps climate change is to blame instead? Sorry Dad.

23 posted on 01/24/2020 6:42:07 AM PST by KevinB ("Ignorance more frequently begets confidence than does knowledge." - Charles Darwin)
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To: unixfox

It gets up to 120 F in the Australian outback EVERY YEAR.
You are GOING to have brush fires.


24 posted on 01/24/2020 6:52:06 AM PST by Buckeye McFrog (Patrick Henry would have been an anti-vaxxer)
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To: nikos1121

If this propaganda works we will have identified the REAL reason for the next economic meltdown.

Bankers are STOOOOOOPID.


25 posted on 01/24/2020 6:53:09 AM PST by Buckeye McFrog (Patrick Henry would have been an anti-vaxxer)
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To: Oldeconomybuyer

Yes it could - a bunch of dopey business executives spending a fortune in their companies’ money to pursue some crazy “climate change” agenda that is the equivalent of throwing money in the furnace.


26 posted on 01/24/2020 6:54:02 AM PST by Opinionated Blowhard (When the people find that they can vote themselves money, that will herald the end of the republic.)
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To: nikos1121

Increased costs of energy is gonna leave a mark.
Gaslighting the Public with Climate Change must end.


27 posted on 01/24/2020 6:58:52 AM PST by griswold3 (Democratic Socialism is Slavery by Mob Rule)
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To: Oldeconomybuyer
Absolutely IF companies follow the rabid left’s dictates. How many companies are going renewable? You have Blackrock demanding that companies in its portfolios go renewable? Yup, I sure do see a crisis in the making!
28 posted on 01/24/2020 7:01:16 AM PST by Chgogal (Never underestimate the stupidity of a DummycRAT voter. Proof: California, New York, Illinois.)
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To: Oldeconomybuyer

“Climate change could cause the next financial meltdown”

Isn’t THAT the Liberal objective?


29 posted on 01/24/2020 7:04:52 AM PST by SMARTY ("Nobility is defined by the demands it makes on us - by obligations, not by rights".)
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To: EEGator

Our sun controls the climates of all its planets. Politicians are going to change this? I don’t think so! The man-made-climate-change hoax is for control of citizens’ money.


30 posted on 01/24/2020 7:06:08 AM PST by abclily
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To: Oldeconomybuyer

Ever wonder why these climate change headlines all seem to have “might” or “could” in their warnings?

That’s how settled the science is.


31 posted on 01/24/2020 7:08:58 AM PST by Blue Collar Christian (I'm a nationalist.I'm white.Does that mean I'm racist?)
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To: Oldeconomybuyer

It is more reasonable to believe that megascale idiotic investments in response climate hysteria could cause a financial meltdown.


32 posted on 01/24/2020 7:13:40 AM PST by TheConservativeBanker
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To: G Larry

Thanks for posting, I’ll have a read a bit later.


33 posted on 01/24/2020 7:14:56 AM PST by Bulwyf
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To: Oldeconomybuyer

The climate isn’t going to steal my money, liberals are.


34 posted on 01/24/2020 7:16:32 AM PST by SaxxonWoods (Epstein pulled a Carradine, the bozo.)
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To: abclily

Of course.


35 posted on 01/24/2020 7:24:34 AM PST by EEGator
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To: griswold3

Teslas Model Y for under $40K is going to revolutionize the auto world, as Ford did with his Model T. In 5 years, a third or more of American’s will be driving electric or hybrid electric cars now...

So, there, private enterprise will have done more to save the environment, and lower emissions from burning gas than the damn gov’t and bureaucrat asshats like Al Gore.


36 posted on 01/24/2020 7:27:40 AM PST by nikos1121
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To: eyeamok

It will be the Left’s “solutions” for non-existent Climate change that cause the economic collapse.


37 posted on 01/24/2020 7:38:23 AM PST by nhbob1
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To: Oldeconomybuyer
I didn't think the New York Times and MSM were going to start trashing the economy for another month or two. The plan is to cause doubt - talk it down continually - and hope there's a crash before the election.

It's the 'Bill Maher' approach - the 'elites' got theirs and causing massive pain for traditional American families is a 'price they're willing to pay' if they can get rid of Trump.

Of course the 'elites' won't pay a price - 'they got theirs' after all - - - but it's a plan the MSM has signed onto...

38 posted on 01/24/2020 7:38:24 AM PST by GOPJ (Will MSNBC bimbos go moist talking to Lev Parnas like they did talking to Michael Avenatti?)
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To: Oldeconomybuyer

If we are indeed heading into a non-man-made deep solar minimum, oddly enough they may be right. Cold, or even cool is much worse than hot or warm.

“Polar stratospheric clouds are very rare. Normally the stratosphere has no clouds at all. PSCs form when the temperature in the Arctic stratosphere drops to a staggeringly-low -85 C. Then, and only then, sparse water molecules begin to coalesce into tiny ice crystals — the “stuff” of PSCs. High-altitude sunlight shining through the crystals creates intense iridescent colors.

“In a typical Arctic winter, PSCs appear two or three times at most. This winter is different. The clouds have nearly filled Arctic skies on dozens of occasions, with some longtime residents describing it as the best outbreak in a generation. No one knows why.”


39 posted on 01/24/2020 8:16:22 AM PST by yefragetuwrabrumuy (Liberalism is the belief everyone else should be in treatment for your disorder.)
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To: Oldeconomybuyer

Watch what they do, not what they say. Obama just bought a $13 million mansion in Martha’s Vineyard, located just a few feet above sea level.


40 posted on 01/24/2020 9:02:38 AM PST by norwaypinesavage (Calm down and enjoy the ride, great things are happening for our country)
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