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<font size="+2"><font face="Calibri"><i><b>April</b></i></font></font><font
size="+2" face="Calibri"><i><b> 11, 2023</b></i></font><font
face="Calibri"><br>
</font> <font face="Calibri"> </font> <br>
<font face="Calibri"><i>[ watch the money, watch the homestead ] </i></font><br>
<font face="Calibri"> </font> <font face="Calibri"><b>Bubble
trouble: Climate change is creating a huge and growing U.S. real
estate bubble</b></font><br>
<font face="Calibri">Rising seas, bigger floods, and other
increasing climate hazards have created a dangerous instability in
the U.S. financial system.</font><br>
<font face="Calibri">by JEFF MASTERS</font><br>
<font face="Calibri">APRIL 10, 2023</font><br>
<font face="Calibri">Homes constructed in flood plains, storm surge
zones, regions with declining water availability, and the
wildfire-prone West are overvalued by hundreds of billions of
dollars, recent studies suggest, creating a housing bubble that
puts the U.S. financial system at risk.</font><br>
<br>
<font face="Calibri">The problem will get worse as sea level rises
and storms dump heavier rains and if unwise building practices
continue. But increased awareness of climate risks, more realistic
flood insurance pricing, and reform of government disaster policy
could reduce this overvaluation — and the risk of an economically
disastrous bubble burst.</font><br>
<br>
<font face="Calibri">Climate futurist Alex Steffen has described the
climate change–worsened real estate bubble this way: “As awareness
of risk grows, the financial value of risky places drops. Where
meeting that risk is more expensive than decision-makers think a
place is worth, it simply won’t be defended. It will be
unofficially abandoned. That will then create more problems. Bonds
for big projects, loans and mortgages, business investment,
insurance, talented workers — all will grow more scarce. Then,
value will crash, a phenomenon I call the Brittleness Bubble.”
Something that is brittle is prone to a sudden, catastrophic
failure, and cannot easily be repaired once broken.</font><br>
<br>
<font face="Calibri"><b>A housing bubble in the hundreds of billions
of dollars</b></font><br>
<font face="Calibri">A 2023 study in the peer-reviewed journal
Nature Climate Change has drawn attention to a massive real estate
bubble in the U.S. — property that is overvalued by $121-$237
billion because of current flood risk. And that may be an
underestimate.</font><br>
<br>
<font face="Calibri">A 2022 study by actuarial and consulting firm
Milliman put a much higher price tag on this bubble — $520
billion, with almost 3.5 million homeowners facing a decrease in
property value greater than 10% if flood risk were priced
correctly. For comparison, the U.S. government spent $431 billion
via the Troubled Asset Relief Program to help people recover from
the 2008 housing crisis. In an interview last week with cnbc.com,
one of the few skeptics who recognized the housing market was on
the brink of collapse in 2007 — Dave Burt, CEO of investment
research firm DeltaTerra Capital — agreed that a huge U.S. housing
bubble existed because of unpriced flood risk. “We think of this
repricing issue as maybe a quarter of the size and magnitude of
the [global financial crisis] in aggregate, but of course very,
very damaging within those exposed communities,” he said.</font><br>
<br>
<font face="Calibri">Increased flooding from climate change is
worsening this overvalued property bubble. And such estimates
don’t account for the effects of climate change-intensified
wildfires, drought, and extreme heat. For example, the surge in
catastrophic wildfires in California in recent years has
contributed to a major affordable-housing and insurance crisis in
the state. Lack of water in dry states with water availability
issues, like Arizona and California, has also created increased
risk of property overvaluation. In addition, a rise in extreme
heat from a warming climate combined with a growing urban heat
island effect is likely to make living in hot cities like Phoenix
and Miami undesirable for an increasing number of people in coming
decades, potentially depressing property values there.</font><br>
<br>
<font face="Calibri">Property overvaluation is particularly
widespread among low-income households, which tend to be located
in high-risk flood areas where land is cheaper. Poorer
neighborhoods also receive fewer government dollars for flood
protection infrastructure compared to wealthier neighborhoods,
causing disproportionately high flood losses. If a crash in real
estate values occurs, the U.S. wealth gap is likely to widen,
because many households’ most valuable asset is their home.</font><br>
<blockquote><font face="Calibri">Jeff Masters</font><br>
<font face="Calibri">@DrJeffMasters</font><br>
<font face="Calibri">One of the comments: “I don't know if this
fits my needs. Do you have any homes built into the rim of an
active volcano?” NFIP allows you to insure the property for up
to $250K, and I expect the premiums are a few thousand per year
(not easy to find specific NFIP rates online).</font><br>
<font face="Calibri"><a class="moz-txt-link-freetext" href="https://twitter.com/DrJeffMasters/status/1640882423939432449">https://twitter.com/DrJeffMasters/status/1640882423939432449</a>?</font><br>
</blockquote>
<font face="Calibri"><b>The danger of the climate change–worsened
real estate bubble</b></font><br>
<font face="Calibri">In part because of worsening climate change
impacts, home insurers are already pulling out of the most at-risk
areas, which has led to an insurance crisis in three states —
Florida, Louisiana, and California. This insurance crisis
threatens to make property ownership too expensive for millions,
posing a serious threat to the economically critical real estate
industry. Homebuyers who can’t afford insurance can’t get a
mortgage, and in those fire and flood zones where insurance rates
skyrocket, many owners will try to sell, potentially triggering
panic selling and a housing market collapse like the crisis of
2008...</font><br>
<font face="Calibri">- -</font><br>
<font face="Calibri">The 2023 study warned: “The collapse of housing
prices during the Great Recession had negligible impacts on local
government property tax revenues. In contrast, declines in
property values due to climate risk are unlikely to be temporary,
particularly for properties affected by sea-level rise … local
governments may need to adapt their fiscal structure to continue
to provide essential public goods and services.”</font><br>
<font face="Calibri">- -</font><br>
<font face="Calibri"><b>Six actions that could help with the climate
change real-estate bubble</b></font><br>
<font face="Calibri"><b>1) Require sellers to fully disclose flood
risks when selling a property.</b></font><br>
<font face="Calibri">The 2023 Nature Climate Change study found that
in general, highly overvalued properties are concentrated in
counties along the coast with no flood-risk disclosure laws. A
prospective buyer who is informed of the flood risks of a property
may be less likely to pay top dollar for it if the flood risks
were high, reducing its overvaluation. Many states require a
seller to detail the flood risk of any property being sold, and
several more have implemented new disclosure laws in recent years.
However, the powerful real estate industry often opposes these
laws. The state with the highest amount of overvalued property —
Florida — has no requirement to disclose flood risk...</font><br>
<br>
<font face="Calibri"><b>2) Increase climate change awareness.</b></font><br>
<font face="Calibri">Several studies have shown that less
development occurs in high-risk areas where there is greater
awareness of climate change. Climate change awareness has been
increasing in recent years (see Tweet below), and the new
floodfactor.com tool that rates property-specific flood, heat,
wind, and wildfire risk from the nonprofit First Street Foundation
has the potential to further increase awareness in the coming
years...</font><br>
<font face="Calibri">- -</font><br>
<font face="Calibri">NFIP rate hikes are causing homeownership to
grow too expensive for some, particularly those with lower income,
and a steady stream of people have been canceling their flood
insurance policies in recent years ...</font><font face="Calibri"><br>
</font><br>
<font face="Calibri"><b>3) Charge market-based insurance rates.</b></font><br>
<font face="Calibri">The National Flood Insurance Program, or NFIP,
has historically charged rates far lower than the actual flood
risk. As a result, the program has experienced multiple
taxpayer-funded bailouts, beginning in 2005 with Hurricane
Katrina. NFIP is currently $20.5 billion in debt...</font><br>
<font face="Calibri">- -</font><br>
<font face="Calibri"><b>4) Reduce federal subsidies to live in risky
places...</b><br>
</font><font face="Calibri"> I estimate that at minimum it will take
a year of us meeting regularly to write something that will be
effective. Longer to negotiate it through various stakeholders.
Our stumbling block has been a lack of political support and
funding.”...</font><br>
<font face="Calibri">- -</font><br>
<font face="Calibri"><b>5) Revamp FEMA and create a National
Disaster Safety Board. </b><br>
In its present form, FEMA is underfunded, understaffed, and has
minimal authority. FEMA could be revamped and well-funded,
becoming a cabinet-level organization...<br>
- -<br>
In addition, a National Disaster Safety Board could advocate for
policy changes that would correct bad development decisions,
discriminatory policies, and lack of climate change planning.<br>
<br>
<b>6) Implement a fair and properly funded managed retreat policy.
</b><br>
Rather than rebuilding in areas of known hazard multiple times — a
practice subsidized by taxpayers — we could instead get people out
of flood zones and into affordable housing...</font><br>
<font face="Calibri"><b>When will the bubble burst?</b><br>
The inexorable rise in sea level alone increases the risk of a
bubble burst unless radically transformative policies are enacted
to reduce it.<br>
<br>
NOAA predicts that sea level rise by 2050 for the U.S. will
average 10-14 inches for the East Coast, 14-18 inches for the Gulf
Coast, and four to eight inches for the West Coast. A rapid rise
will continue thereafter, with NOAA estimating that the U.S. will
experience four to seven feet of sea level rise by 2100, compared
to 2000, in the intermediate and high scenarios.<br>
</font><br>
<font face="Calibri">But considering that people are continuing to
flock to the climate-vulnerable Sun Belt states, we may still have
a few years — and perhaps decades — before the bubble pops. One
period of increased risk will likely occur in the mid-2030s, when
a wobble in the moon’s orbit (part of a cycle that repeats every
18.6 years) will being unusually high tides to the U.S. Gulf Coast
and West Coast, causing a surge in sunny-day high tide flooding.
But given the highly concerning ramp-up in extreme weather in
recent years, the housing bubble could burst sooner than that.
Uncertainty has not been our friend when it comes to the impacts
of extreme weather, which have largely been underpredicted by the
climate models...</font><br>
<font face="Calibri">- -</font><br>
<font face="Calibri">There isn’t going to be an orderly transition
to a new society that is in balance with the 21st-century climate;
a massive climate-change disruption is already underway, and this
great upheaval will fundamentally rip at the fabric of society.
The sooner we acknowledge and plan for this reality, the less
expensive and disruptive the transition will be, and the less
suffering and death will occur.<br>
<br>
Consider this vision for the future, though, from the excellent
new book, “Charleston: Race, Water, and the Coming Storm,” by
Susan Crawford: “Imagine planning for a multi-decade, gradual
move, in consultation with each community, to new and welcoming
locations well-connected to transit and jobs. Imagine caring for
the least well-off among us, ensuring that they have a voice in
this planning and choices about whether, when and how to leave,
while firmly setting an endpoint on human habitation in the
riskiest places.”<br>
</font><font face="Calibri"><a class="moz-txt-link-freetext" href="https://yaleclimateconnections.org/2023/04/bubble-trouble-climate-change-is-creating-a-huge-and-growing-u-s-real-estate-bubble/">https://yaleclimateconnections.org/2023/04/bubble-trouble-climate-change-is-creating-a-huge-and-growing-u-s-real-estate-bubble/</a></font><br>
<p><font face="Calibri">- -</font></p>
<font face="Calibri"><i>[ book mentioned above ]</i><br>
</font><font face="Calibri"><b>Charleston: Race, Water, and the
Coming Storm </b><br>
</font><font face="Calibri">by Susan Crawford (Author),<br>
</font><font face="Calibri">An unflinching look at a beautiful,
endangered, tourist-pummeled, and history-filled American city.<br>
<br>
At least thirteen million Americans will have to move away from
American coasts in the coming decades, as rising sea levels and
increasingly severe storms put lives at risk and cause billions of
dollars in damages. In Charleston, South Carolina, denial,
boosterism, widespread development, and public complacency about
racial issues compound; the city, like our country, has no plan to
protect its most vulnerable. In these pages, Susan Crawford tells
the story of a city that has played a central role in America's
painful racial history for centuries and now, as the waters rise,
stands at the intersection of climate and race.<br>
<br>
Unbeknownst to the seven million mostly white tourists who visit
the charming streets of the lower peninsula each year, the Holy
City is in a deeply precarious position. Weaving science,
narrative history, and the family stories of Black Charlestonians,
Charleston chronicles the tumultuous recent past in the life of
the city—from protests to hurricanes—while revealing the
escalating risk in its future. A bellwether for other towns and
cities, Charleston is emblematic of vast portions of the American
coast, with a future of inundation juxtaposed against little
planning to ensure a thriving future for all residents.<br>
<br>
In Charleston, we meet Rev. Joseph Darby, a well-regarded Black
minister with a powerful voice across the city and region who has
an acute sense of the city's shortcomings when it comes to matters
of race and water. We also hear from Michelle Mapp, one of the
city's most promising Black leaders, and Quinetha Frasier, a
charismatic young Black entrepreneur with Gullah-Geechee roots who
fears her people’s displacement. And there is Jacob Lindsey, a
young white city planner charged with running the city’s ten-year
“comprehensive plan” efforts who ends up working for a private
developer. These and others give voice to the extraordinary risks
the city is facing.<br>
<br>
The city of Charleston, with its explosive gentrification over the
last thirty years, crystallizes a human tendency to value
development above all else. At the same time, Charleston stands
for our need to change our ways—and the need to build higher,
drier, more densely-connected places where all citizens can live
safely.<br>
<br>
Illuminating and vividly rendered, Charleston is a clarion call
and filled with characters who will stay in the reader’s mind long
after the final page.</font><br>
<font face="Calibri"><a class="moz-txt-link-freetext" href="https://www.amazon.com/Charleston-Race-Water-Coming-Storm/dp/1639363572">https://www.amazon.com/Charleston-Race-Water-Coming-Storm/dp/1639363572</a><br>
</font>
<p><font face="Calibri"><br>
</font></p>
<p><font face="Calibri"><br>
</font></p>
<i><font face="Calibri">[ Latest climate science ]</font></i><br>
<b><font face="Calibri">Prof. Stefan Rahmstorf: The Oceans in a
Changing Climate</font></b><br>
<font face="Calibri">Earth System Analysis - Potsdam Institute<br>
3,462 views Oct 4, 2022<br>
The Earth is undergoing a major rapid warming, unprecedented in
its speed for millions of years. How is this affecting the physics
of the oceans, and thereby us? The lecture will cover ocean
warming and its consequences:<br>
<br>
- Arctic summer sea ice cover has shrunk by half in extent and
also in thickness, so that only about a quarter of the ice mass
that was normal until the 1970s is left now.<br>
<br>
- Thermal expansion and loss of land ice is causing global
sea-level to rise, by around 20 cm thus far, and accelerating. The
latest IPCC report concluded that 2 meters by the year 2100 cannot
be ruled out.<br>
<br>
- Tropical cyclones draw their energy from the heat stored in the
upper ocean and are consequently already getting more violent with
global warming, and also extending their range to higher
latitudes.<br>
<br>
- The Atlantic meridional overturning circulation (AMOC) has been
weakening since the mid-twentieth Century and is now weaker than
any time in the last 1,000 years. This is of great concern as it
is already having an impact on European weather, and the AMOC has
a tipping point where it will grind to a halt altogether.<br>
</font><font face="Calibri"><a class="moz-txt-link-freetext" href="https://www.youtube.com/watch?v=NnUlax_S5EA&t=3s">https://www.youtube.com/watch?v=NnUlax_S5EA&t=3s</a></font>
<p><font face="Calibri"><br>
</font></p>
<p><font face="Calibri"><br>
</font></p>
<i> [ AI chatbot ]</i><br>
<b>HOW AI CAN HELP COMBAT CLIMATE CHANGE</b><br>
Jim Bellingham, executive director of the Johns Hopkins Institute
for Assured Autonomy, discusses the potential to use AI in tracking
and mitigating the effects of climate change ahead of a presentation
at the South by Southwest Conference on March 15<br>
ByMegan Mastrola / Published Mar 7<br>
How is AI being used to address climate change?<br>
The interesting aspect of AI is that it applies to so many things we
do, including tasks that were previously activities only humans
could accomplish. Climate change is one of the most difficult
scientific problems that humans have ever faced. It's a phenomenally
complex system with an enormous number of variables. When people
talk about climate change, they tend to focus on the physical
aspects of climate, such as the amount of carbon dioxide in the
atmosphere, temperatures, precipitation levels, and wind patterns.
But these characteristics are all shaped by a living planet that is
constantly changing. If you took life off planet Earth, it would
have a very different environment.<br>
<br>
Climate data sets are enormous and take significant time to collect,
analyze, and use to make informed decisions and enact actual policy
change. Using AI to factor in elements of climate change that are
constantly evolving helps us make more informed predictions about
changes in the environment, so that we can deploy mitigation efforts
earlier...<br>
- -<br>
<b>What are some challenges that experts are facing when using AI to
address climate change?</b><br>
One of the challenges we have in really understanding climate is to
begin to truly comprehend the complexities of the living part of our
ecosystem, particularly our oceans. The oceans present a number of
difficulties, including the fact that it is prohibitively expensive
to deploy and maintain the number of ships we need to observe the
ocean and collect needed data. Robots are being increasingly used
for this purpose, but their autonomous capabilities need to be
improved. This is where AI comes into play.<br>
<br>
The additional oversight and prediction that AI provides to
researchers is valuable, but there are expenses that need to be
considered to assess the true benefits in terms of climate change
work. One example is that AI relies on computers, and computers need
electrical power to function, and electricity uses resources.
Scientists and researchers must keep the use of electricity that is
used to power AI technology in mind when assessing how beneficial
the technology is in addressing climate change. On average, each new
generation of processor carries out more computations for less
power, but AI demands for computation are fueling an explosion of
investment in computational power. The AI technology we have today
is due in part to the enormous computational power we have.<br>
<br>
<b>What do you predict will be AI's biggest impact on combatting
climate change in the next five to 10 years?</b><br>
My hope for the future of AI is that we will be able to have a
meaningful impact on predicting climate change. As humans become
more confident in AI, we will be able to rely on technology more to
understand climate change and to make more accurate predictions and
models. This will allow us to be more targeted in our strategies to
mitigate the worst effects. Assurance in autonomy and AI is one area
that needs to be taken very seriously. Even if we don't think
something is an AI problem today, it will be an AI problem next week
or next month.<br>
<a class="moz-txt-link-freetext"
href="https://hub.jhu.edu/2023/03/07/artificial-intelligence-combat-climate-change/">https://hub.jhu.edu/2023/03/07/artificial-intelligence-combat-climate-change/</a><br>
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</p>
<p><br>
</p>
<i><font face="Calibri">[ 3 California guys talk doomscrolling,
roadkill, and hopium. Yet keep a sense of humor ]</font></i><br>
<font face="Calibri"> </font> <font face="Calibri"><b>Sam
Mitchell, Michael Campi & Eliot Jacobson Talk Doom</b></font><br>
<font face="Calibri">Climate Casino</font><br>
<font face="Calibri">Apr 9, 2023 SANTA BARBARA</font><br>
<font face="Calibri">Michael Campi is an author on medium.com who
has recently been featured in a couple of Sam's videos on Collapse
Chronicles. In this "get to know you" chat, Michael dives deep
into his life as a doomer, sharing a few doomer-author secrets
along the way.</font><br>
<font face="Calibri">Here's a link to Michael's articles & bio
on medium:</font><br>
<font face="Calibri"><a class="moz-txt-link-freetext" href="https://medium.com/@campmac15">https://medium.com/@campmac15</a></font><br>
<font face="Calibri"><a class="moz-txt-link-freetext" href="https://www.youtube.com/watch?v=mQJI1DXDcdE">https://www.youtube.com/watch?v=mQJI1DXDcdE</a><br>
</font>
<p><font face="Calibri"><br>
</font></p>
<p><font face="Calibri"><br>
</font></p>
<i><font face="Calibri">[ one cognitive bias explained in a YouTube
video ]</font></i><br>
<b><font face="Calibri">The psychology behind irrational decisions -
Sara Garofalo</font></b><br>
<font face="Calibri">TED-Ed<br>
</font><font face="Calibri">2,178,418 views May 12, 2016<br>
View full lesson:
<a class="moz-txt-link-freetext" href="https://ed.ted.com/lessons/the-psychology-behind-irrational-decisions-sara-garofalo">https://ed.ted.com/lessons/the-psychology-behind-irrational-decisions-sara-garofalo</a>.<br>
<br>
Often people make decisions that are not “rational” from a purely
economical point of view — meaning that they don’t necessarily
lead to the best result. Why is that? Are we just bad at dealing
with numbers and odds? Or is there a psychological mechanism
behind it? Sara Garofalo explains heuristics, problem-solving
approaches based on previous experience and intuition rather than
analysis.<br>
<br>
Lesson by Sara Garofalo, animation by TOGETHER.<br>
</font><font face="Calibri"><a class="moz-txt-link-freetext" href="https://www.youtube.com/watch?v=V2EMuoM5IX4">https://www.youtube.com/watch?v=V2EMuoM5IX4</a><br>
</font>
<p><font face="Calibri">- - <br>
</font></p>
<i><font face="Calibri">[ discussion of fringe thinking ]</font></i><br>
<font face="Calibri"><b>Michael Shermer: Why the Rational Believe
the Irrational</b><br>
Commonwealth Club of California<br>
43,954 views Nov 4, 2022 SAN FRANCISCO<br>
Long a fringe part of the American political landscape, conspiracy
theories are now mainstream: 147 members of Congress voted in
favor of objections to the 2020 presidential election based on an
unproven theory about a rigged electoral process promoted, in
part, by followers of the mysterious QAnon community, itself a
network of believers of a wide-ranging conspiracy involving
pedophilia among elected officials and other civic and business
leaders. But these are only the latest examples of a long history
of conspiracies that have gained adherents in society. In his
timely new book, Conspiracy, Michael Shermer, founding publisher
of Skeptic magazine, discusses what makes conspiracies so
appealing to segments of the population.<br>
<br>
Shermer finds that conspiracy theories cut across gender, age,
race, income, education level, occupational status―and even
political affiliation. One reason that people believe these
conspiracies, Shermer argues, is that enough of them are real that
we should be constructively conspiratorial: elections have been
rigged, medical professionals have intentionally harmed patients
in their care, your government does lie to you, and, tragically,
some adults do conspire to sexually abuse children. But Shermer
reveals that other factors are also in play: anxiety and a sense
of loss of control play a role in conspiratorial cognition
patterns, as do certain personality traits.<br>
<br>
Join us for Dr. Shermer's discussion in our continuing series on
false narratives. It is for anyone concerned about the future
direction of American politics, as well as anyone who has watched
friends or family fall into patterns of conspiratorial thinking<br>
November 1, 2022<br>
Speakers<br>
</font>
<blockquote><font face="Calibri">Michael Shermer</font><br>
<font face="Calibri">Publisher, Skeptic Magazine; Executive
Director, The Skeptics Society; Author, Conspiracy: Why the
Rational Believe the Irrational</font><br>
<br>
<font face="Calibri">Eric Siegel</font><br>
<font face="Calibri">Chair, Personal Growth Member-led Forum, The
Commonwealth Club of California—Moderator</font><br>
</blockquote>
<font face="Calibri"><a class="moz-txt-link-freetext" href="https://www.youtube.com/watch?v=eDgJ4l8HtlE">https://www.youtube.com/watch?v=eDgJ4l8HtlE</a><br>
</font>
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</font></p>
<i><font face="Calibri">[ time to notice the future trends - A
global problem will train us in de-globalization? ]</font></i><br>
<font face="Calibri"><b>Planet Local: A Quiet Revolution (English)</b><br>
</font>Local Futures<br>
35,798 views Jun 20, 2022<br>
Planet Local: A Quiet Revolution, a film by the international NGO
Local Futures, shows a quiet and transformative revolution emerging
worldwide.<br>
<br>
Away from the screens of the mainstream media, the crude ‘bigger is
better’ narrative that has dominated economic thinking for centuries
is being challenged. As people work to protect and restore their
local economies, their communities and the natural world, countless
diverse initiatives are demonstrating a new path forward for
humanity. It’s a path that localizes rather than globalizes,
connects rather than separates, and shows us that human beings need
not be the problem – we can be the solution.<br>
<br>
Featuring activists from every continent alongside figures like
Russell Brand, Noam Chomsky, Vandana Shiva, Helena Norberg-Hodge,
Naomi Klein, Jane Goodall and Gabor Maté, Planet Local: A Quiet
Revolution is a timely and compelling call to action.<br>
<a class="moz-txt-link-freetext" href="https://www.youtube.com/watch?v=EHAXdrLagwY">https://www.youtube.com/watch?v=EHAXdrLagwY</a><br>
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<font face="Calibri"> <i>[The news archive - looking back]</i><br>
<font size="+2"><i><b>April 11, 2010</b></i></font> <br>
April 11, 2010: In the New York Times Magazine, Paul Krugman
observes:<br>
<br>
"If you listen to climate scientists — and despite the relentless
campaign to discredit their work, you should — it is long past
time to do something about emissions of carbon dioxide and other
greenhouse gases. If we continue with business as usual, they say,
we are facing a rise in global temperatures that will be little
short of apocalyptic. And to avoid that apocalypse, we have to
wean our economy from the use of fossil fuels, coal above all.<br>
<br>
"But is it possible to make drastic cuts in greenhouse-gas
emissions without destroying our economy?<br>
<br>
"Like the debate over climate change itself, the debate over
climate economics looks very different from the inside than it
often does in popular media. The casual reader might have the
impression that there are real doubts about whether emissions can
be reduced without inflicting severe damage on the economy. In
fact, once you filter out the noise generated by special-interest
groups, you discover that there is widespread agreement among
environmental economists that a market-based program to deal with
the threat of climate change — one that limits carbon emissions by
putting a price on them — can achieve large results at modest,
though not trivial, cost."<br>
<br>
<a class="moz-txt-link-freetext"
href="http://www.nytimes.com/2010/04/11/magazine/11Economy-t.html?pagewanted=all&_r=1&">http://www.nytimes.com/2010/04/11/magazine/11Economy-t.html?pagewanted=all&_r=1&</a><br>
<br>
<br>
</font>
<p><font face="Calibri">======================================= <br>
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--------------------------------------- <br>
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Every weekday morning, in time for your morning coffee, Carbon
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more at <a class="moz-txt-link-freetext"
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<br>
================================== <br>
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