“How do we sunset? Let me count the ways…” Despite all the hype, Climate Change doesn’t even move our meter in today’s cold, hard viewing of Reality.
The smell of Depression is in the air. For example, Public pessimism on the economy hits a new high, CNBC survey shows. And about the leaders of the pack? Depositors pull nearly $60bn from three US banks as Apple raises pressure are but two examples. Mood swings, anyone?.
“Distraction issues” are failing the smell test. For, if climate change was really going to happen, do you think insurance companies would still offer waterfront property coverage? Would China still be bringing new coal plants online?
A highly skilled entrepreneur I worked for (not too long ago) told me recently his 6th floor A-1A condo in South Florida (with a two story great room viewing the Intercoastal and the Atlantic) hasn’t had so much as a blip in getting heavyweight property and casualty insurance.
The way thinking people look at things, if the threat was real, waterfront homeowners would be dumping because their mortgages require insurance. Interesting to hear about Dan Pena’s views in this context.
My buddy’s condo is post-and-tension concrete. He sure as hell wouldn’t want to live in that kind of building in, oh, California, for fears of it “going 880” on he and his wife and their assistant. But for hurricanes? About perfect with the extra heavy glass.
Post and tension is not our favorite, though. With reason. Check out 1 person killed, five injured in NYC parking garage collapse (nypost.com).
Still, having laid to rest immediate concerns on one front, the statistical reality of the Cosmic Russian Roulette game deserves a serious review along with other life-ending strategic threats.
In fact, according to the Fed itself, there hasn’t been a convertible domestic U.S. Dollar for over half a century.
“The $1 notes were authorized in 1963 as a replacement for $1 silver certificates that were being discontinued because of the need for silver coinage; $2 notes were authorized at the same time but were not printed and issued until 1976.”
So far, the paperhangers are winning, but we’ll see over time.
More immediate concerns threaten us now, so after a few headlines and the ChartPack we’ll be transitioning from “dismal science” to “dismal endings.”
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