2w ago

Climate Change Will Bankrupt the Country | Climate-fueled disasters cost America almost a trillion dollars over the last year, far more than economists predicted.

Climate Change Will Bankrupt the Country

Climate - truthful information about climate, related activism and politics. @slrpnk.net

2w ago

prospect.org /environment/2025-06-20-climate-change-will-bankrupt-country/

news @hexbear.net

InevitableSwing [none/use name] @hexbear.net

2w ago

Climate change will bankrupt the country. Climate-fueled disasters cost America almost a trillion dollars over the last year, far more than economists predicted.

prospect.org /environment/2025-06-20-climate-change-will-bankrupt-country/

doomer @hexbear.net

InevitableSwing [none/use name] @hexbear.net

2w ago

Climate change will bankrupt the country. Climate-fueled disasters cost America almost a trillion dollars over the last year, far more than economists predicted.

prospect.org /environment/2025-06-20-climate-change-will-bankrupt-country/

15 comments

Yeah well when you stop tracking unprecedented and once in a lifetime events and just say they are fake news you don’t have to spend funds on any recovery or restoration efforts! Checkmate, liberals! Roll that coal!
- Like with tobacco, the ones who had no doubt about the ill effects were the insurance companies.
  They measure the impact in dollars, and the math is clear.
An ounce of prevention is worth a pound of cure, but when you have captured the government through lobbying you just push the cost onto the tax payer and take your yacht out instead.
- Keep everyone uneducated, breeding, and making money for the 1%. It's the conservative way.
  Lots of us will die, but not the billionaires, and probably not most of the millionaires, and enough will live that all the losses of people and resources will just be the cost of doing business.
  Look at all the money they won't have to spend on healthcare for those who die! And those who remain - just cattle at that point to keep the rich wealthy.
  Close enough parallel to cover it, I think.
They will bankrupt individual families far before the "country" will feel it. It will be impossible to get insured in certain areas, and it'll happen right fast.
- (Gasp) What happens when an insurance company is forced to repair everyone’s damaged property and the bug businesses that fund them go bankrupt? Will the country feel it then? Won’t someone think of the big businesses!
  
  Insurance companies rarely go bankrupt as it requires insane incompetency to achieve this.
  Insurance companies work like casinos: Develop a probabilistic model to determine the average amount of claims per customer per region and then charge more.
  That's why they are exiting regions where the expected yearly damages exceed what they are allowed to charge. Insurances are the first to exit a sinking ship.
  
  Something sort of like the 08 collapse
No shit, why were we listening to a bunch of pseudo-science experts and ignoring the pleas of Climate Scientists, Environmental Scientists and Geologists?
Is it because "economics" is in practice a discipline devoted to rationalizing the cruelty of the rich as somehow a natural and desirable state?
- Not so fun thing:
  There is a whole debate about the "optimal" economic path during climate change, from a GDP perspective. One of the core issues is the question of interest rate. By assuming "market typical" interest rates around 1,4%, the future quickly gets discounted so much, that no matter the economic damage, because of the underlying growth assumptions, you end up with the Stern review marking 3°C as optimal economic outcome...
  https://en.wikipedia.org/wiki/Stern_Review#Discounting
  Discounting into the future, the whole interest rate and debt system, assuming growth... all of these are core positions of mainstream economics.
  With the illusion of being a natural science rather than a social science, economics get way too much credit and of course there is a very problematic revolving door between financial institutions and economic research/education.
  
  Economics is basically horoscopes for old rich white dudes. They veil their practice in "scientific" language/mathematical models and then have the audacity to make claims like "future consumption should be discounted simply because it takes place in the future and people generally prefer the present to the future (inherent discounting)" or create models on the assumption that growth is forever sustainable in a closed system with inherently limited natural resources.
  Really is concerning that society has yet to break free from the influence of sooth sayers. There really isn't much of a difference between the leaders of states listening to an economics major or listening to a young girl getting high on volcanic fumes at the temple of Delphi.
  
  the “optimal” economic path during climate change
  The optimal solution is to spend as much as you can into preventing climate change, because a dead planet has no economy. No customers = no income, no profit, no business.
  But that requires looking past the next quarter.
  Also I'm convinced economics "professionals" have all figured out that the whole system is bullshit that gets made up on a day to day basis by people who inherited their wealth, and just want to gift along with it. "I know it's bullshit but they're giving me money, so..."
  The only things that assume infinite growth are viruses and parasites.
Just think what a great investment it would have been to listen to Al Gore twenty years ago.
Alas,conservatism. No wait, unbridled capitalism and corporate greed.
Eh, why not both?
I’m sure it’s just natural disasters, predominantly affecting “those” people. They should have known better. Anything else is just DEI and needs to be abolished.
/s

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