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bloom

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Member since: 2002
Number of posts: 11,570

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Trump is a magician - distracting people from the real issue - Global Warming / Carbon Bubble

Racism, sexism, anti-abortion, being a bully, tweeting, even Obamacare to some extent is all a distraction. Making people look away from the main problem.

This is probably the best synopsis about this:

by Alex Steffen

"Trump, Putin and the Pipelines to Nowhere
You can’t understand what Trump’s doing to America without understanding the “Carbon Bubble”


SNIP:

"..Mark Carney, the Governor of the Bank of England and chair of the Financial Stability Board — the global institution designed to try to prevent market panics and crashes — gave a bombshell talk at Lloyds last year, saying he thought letting the Carbon Bubble continue to grow exposed global markets to a risk on the level of the 2007 subprime crisis.

In other words, one of the most knowledgeable financial authorities on the planet has come to think that the difference between what the high-carbon part of the economy is priced at and what it’s worth is so enormous that letting it grow and then suddenly pop could crash financial markets worldwide.

And he’s far from alone. Scores of experts warn that the Carbon Bubble is one of the biggest threats to the global economy. The way to increase the resilience of global markets, they say, is to act on climate, but to do so with bold-yet-predictable pacing. If we do that — they say — we will still see the Carbon Bubble deflate, but markets should be able to adjust, and panic can be avoided. Climate action will stave off financial disaster as well ecological catastrophe.

This is a win-win for everyone, except those heavily invested in those Carbon Bubble assets now. For these investors, the Carbon Bubble is a good thing: the longer it lasts, the more they reap the benefit of high valuations and large dividends. For them, the larger the Carbon Bubble swells, the more money they make...."

https://medium.com/@AlexSteffen/trump-putin-and-the-pipelines-to-nowhere-742d745ce8fd#.nbss80gng
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