Climate change, economy, new economy, risk management

Energy, Economic Trends, and Effecting Change: A Review of the Economic Superorganism

In his book “The Economic Superorganism”, Carey King outlines a novel system to organize economic decision making and to evaluate outcomes in a Climate Changed world. People are becoming increasingly aware of the consequences of climate change. In October of 2018 the UN Panel on Climate Change stated we have 12 years to halt the growth of CO2 if we hope to avoid the worst possible consequences of global warming. (1) The fossil fuel industry is the primary driver of CO2 growth.

In January 2020 the World Economic Forum held its annual gathering at Davos, Switzerland… the primary subject discussed by business and economic leaders was the impact of Climate Change and the need to manage the resulting changing economy.

“The debate on climate change is forcing businesses to respond to demands to stop carbon dioxide and other greenhouse gas emissions. While some have been slow in embracing the fight, executives at Davos highlighted that the overall views from within the business community have dramatically changed over the last decade or so, moving from denial and questioning science into complete acceptance.” (2)

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Climate change, environment

First-hand insights on Climate Change impacts in Bangladesh: An interview with Susmita Saha

Climate change continues to accelerate, affecting people’s near term expectations.

A recent World Resources Institute (WRI) study found that “147 million people will be hit by floods from rivers and coasts annually by the end of the decade, compared with 72 million people just 10 years ago.” (1)

Damages to urban property will soar from $174bn to $712bn per year. By 2050 the cost to cities will exceed $1.7 trillion.

Charlie Iceland of WRI said, “Now we’re actually seeing this increase in magnitude of the damages in real time. We’ve never seen these types of floods before.” By 2050, “the numbers will be catastrophic.”

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economy, interest rates, retirement, risk management

What is the Long-Term Economic Impact of nCov19?

In the Spring of 2020 the Coronavirus led to the quarantine of 800 million people in China. As the virus spread to other countries, economies were forced to close in order to limit the spread of the virus and protect populations.

As economies implemented social distancing policies and closed down, unemployment skyrocketed and GDP plummeted. The economic impact was faster and more severe then the Great Financial Crisis (GFC); some even compared conditions to the Great Depression of the 1930’s.

In April 2020 PIMCO sponsored a virtual forum with Dr. Ben Bernanke. Bernanke is a senior advisor for PIMCO and a policy advisor at Brookings. Bernanke was chairman of the Federal Reserve during the GFC and is an expert on the Great Depression. His insights during the current crisis are valuable on many levels.

Bernanke was asked how is this crisis different from the GFC?

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