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Monday, September 23, 2019
"the next downturn will likely be broad-based and not limited to an acute financial crash, as it is set to be “a more typical economic correction at the end of a cycle”."
‘Southeast Asia at risk of faring worse in next downturn than in global financial crisis’
BAIN & CO. ANALYSTS
Saturday, September 21, 2019
At this unprecedented pivital juncture in human history First Financial Insights is pleased to annouce its support and endorsement of the beliefs, policies and actions of:
"But even if hope has to be held lightly in the steely-eyed recognition of what we face, we still must take action. Much of that action comes back to our own backyards."
A sea change moment?
Tuesday, September 17, 2019
Monday, September 16, 2019
Monday, July 29, 2019
"We’re then looking at the banks losing billions upon billions upon billions of dollars here, which is then going to ripple across the globe, including the countries who did what they were supposed to"
Climate Change Could Crash The Economy
The United States Federal Reserve is way behind the curve compared to pretty much all other industrialized countries on the planet. And the reason is because our Federal Reserve here in the United States doesn’t quite know yet if they need to, you know, warn bankers and insurers about the dangers of climate change and force them to disclose to all their shareholders and members all of those dangers that climate change poses. But here is the good thing about all of that. The banks already know it. The insurers in this country already know it and both of those groups have actually known about it and have had internal discussions about it for well over a decade. That is how long these individuals and these corporations have been trying to add in climate change when talking about and thinking about and warning about risk because that’s what it’s all about for these industries. For the insurance industry, the risk is obvious, right?
You know, we don’t want to insure a bunch of people who live, you know, within 50 feet of a coastline because in 20 years that house might quite literally be underwater. And then we figured if are underwater having to pay out all these claims, hundreds of billions of dollars, if not trillions of dollars in losses for the insurance industry, which would effectively cripple insurance across the planet. The banks are a little bit trickier, right? You know, what does a bank have to worry about climate change? Well, other than I guess maybe the fact they’re the ones who, uh, you know, gave the mortgage to the people whose home might be underwater and now they can’t get insurance. So we lose that money and there is no house to repossess unless you’ve got a good dive team. But that’s only a small part of it. Think about it this way. When you have industries out there that can either live or die based on whether or not we protect the climate, the entire agricultural industry.
WHAT ARE THE POSSIBILITIES?
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