UH WHAT
UH…… WHAT………
Excerpt from this story from Reuters:
The U.S. Federal Reserve for the first time called out climate change among risks enumerated in its biannual financial stability report, and warned about the potential for abrupt changes in asset values in response to a warming planet.
“Acute hazards, such as storms, floods, or wildfires, may cause investors to update their perceptions of the value of real or financial assets suddenly,” Fed Governor Lael Brainard said in comments attached to the report, released Monday.
“Chronic hazards, such as slow increases in mean temperatures or sea levels, or a gradual change in investor sentiment about those risks, introduce the possibility of abrupt tipping points or significant swings in sentiment,” Brainard said.
Such abrupt price changes from climate-related disasters could also create difficult-to-predict knock-on effects through financial markets, the report said, particularly because not enough is understood, or disclosed, about the true extent of exposures to climate risks.
“The moral man is a lower species than the immoral, a weaker species; indeed—he is a type in regard to morality, but not a type in himself; a copy, a good copy at best—the measure of his value lies outside him. I assess a man by the quantum of power and abundance of his will: not by its enfeeblement and extinction; I regard a philosophy which teaches denial of the will as a teaching of defamation and slander— I assess the power of a will by how much resistance, pain, torture it endures and knows how to turn to its advantage.”
— Friedrich Nietzsche, The Will to Power
Two women walk past activists from Extinction Rebellion lying down outside the Spanish parliament during a protest to call attention to the causes of death related to the climate crisis. Part of the banner reads ‘Death’Photograph: Paul White/AP
Then the sun shone, and it was found the ninth hour:
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