Look on my works, ye Mighty, and despair! Photo: Kent Nishimura/Los Angeles Times via Getty Imag Climate change is making the world unsafe for capitalism. In the face of the “frequent and devastating shocks” wrought by unabated warming, the “fundamental conditions supporting our financial system” could prove impossible to sustain. Finance will struggle to perform its risk-management function if entire coastal regions become uninsurable.
On Wednesday, the Republican CFTC chairman Heath Tarbert discounted some of his own commission’s ideologically inconvenient findings by noting, in an interview with the New York Times, “The subcommittee’s report acknowledges that ‘transition risks’ of a green economy could be just as disruptive to our financial system as the possible physical manifestations of climate change, and that moving too fast, too soon could be just as disorderly as doing too little, too late.
Meanwhile, Wall Street’s largest banks reassured their clients this week that congressional Republicans will eventually acquiesce to another hefty stimulus package , with Morgan Stanley projecting a “a $1.5 trillion to $2 trillion package” by month’s end. At present, Mitch McConnell & Co. have refused to meet Nancy Pelosi’s caucus halfway on relief funding. This is in part because Republicans oppose significant fiscal aid for states and cities, a policy that enjoys the support of the U.S.
But the Republican Party is too corrupted by rentier and extractive industries — and too besotted with conservative economic orthodoxy — to advance the long-term best interests of American capital. Thus, it is not necessarily in the immediate interest of U.S. business writ large to have a solipsistic con man in charge of the federal government, no matter how much he helps individual firms loot the public purse or skirt regulatory compliance. To the contrary, it is at least conceivable that, had the U.S.
vgspiro EricLevitz The world needs to hear about the duplicity and hypocrisy of the mainstream media swamp influencing opinion polls with lies and political fabrications to shore up the political weight of candidates of their choice. CNN. is really evil and Americans must wake up to this reality!
EricLevitz the overlap between 'U.S. business as a whole' and the interests of white men, and particularly rich white men, is declining. QED.
EricLevitz Why is that? Why would they ignore parents' cries a few years ago to be on the side of a powerful business then?
EricLevitz A skewering like they deserve
EricLevitz GOPCorruptionOverCountry
EricLevitz Long ago
EricLevitz Well he speaks/writes the truth!