Posts Tagged ‘climate change’

Read The Discount Rate Mismatch

This is very enlightening post by Statsguy, a frequent guest contributor to the Baseline Scenario, that explains why we are at a critical point in economic history.  The entire system is so far in debt that there is no painless way to get out of it.  What would you be willing to sacrifice so that the historic theft of wealth on Wall Street gets justly punished?  Your retirement?  Your pensions fund?  Your home?  And don’t think that Canada would be immune.  Despite having avoided the worst of the 2007 phase of the Financial Crisis, it is far from over and if the U.S. collapses in earnest, there will be nowhere to hide.  This is one of the greatest challenges humanity will face and it is intimately connected to controlling climate change and wether or not the 21st Century descends into the blood bath that was the 20th.   If we chose to continue with more or less the same system… then we will likely pay a nasty price.

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But more probably it will be during our childrens’.

A much commented on NY Times Magazine piece by Paul Krugman neatly sums up the climate change debate and the choices available to humanity to make the best out of an arguably horrible state of affairs.

Notice how this Nobel Laureate sincerely uses words such as Apocalypse and Catastrophe to describe what awaits us, in our lifetime if we do nothing, and most likely in a generation or two, even if we take action.

Be afraid. Be very afraid!


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