Now, if you had a cheeseburger, that would cause a depression
The Next Economic Recession Will Likely Come From Climate Crisis
American companies are ignoring the risks of climate change at their own peril, according to a researcher warning that extreme weather caused by the climate crisis could result in a devastating economic recession.
Financial markets are failing to account for the risks that increasingly frequent and worsening floods, droughts, and other extreme weather events pose to the economy, according to an article published in the journal Nature Energy this week.
“If the market doesn’t do a better job of accounting for climate, we could have a recession — the likes of which we’ve never seen before,†said study author Paul Griffin, an accounting professor at the UC Davis Graduate School of Management.
Griffin said in the article that his years of research concluded that “unpriced risk†was the “main cause†of the 2007-08 Great Recession and companies are once again failing to assess the damage extreme weather events can wreak on their business.
Bad weather never happened before fossil fuels, you know. Hey, remember the recession caused by Hurricane Camille? Or the Great Galveston one of 1900? The Miami hurricane of 1926? Andrew? Katrina? It’s always some sort of future doom from these folks, but, what this type of stuff actually does is allow the Cult of Climastrology to set the stage to blame ‘climate change’ when a recession happens, and, one certainly will, because they always do.
