Is the ocean broken?

We may flood overnight but it is weather not climate change.

 

"the IMF’s latest Global Financial Stability Report examines the impact of climate change physical risk (loss of life and property as well as disruptions to economic activity) on financial stability, and finds that equity investors might not be pricing these risks adequately. The COVID-19 pandemic has shown how fast and extensive disruption of economic activity can be (even for well-known types of risks), underscoring the importance of preparedness and adequate risk assessment."

"For example, Hurricane Katrina, in 2005, with the largest damage in absolute terms in our sample (1 percent of U.S. GDP), had no discernible impact on the U.S. stock market index. The 2011 Thai floods, by contrast, with the largest damage relative to the economy’s size, caused a 30 percent drop in the stock market over 40 days."
https://assets.weforum.org/editor/r...UtsJnZIV2TcvMvbMla7OqE7yjtHykSndxWgspPIA.webp

The economic impact of a given disaster has to do with the disruption of trade and little to nothing to do with cost of damages or recovery. Comparing climate change disasters to the economic impact of a global pandemic is like comparing apples and orange. The pandemic contains a very small potential for new or stimulated industry while slowing or stopping industry completely. A destroyed city or limited region that requires money be spent on recovery and prevention only moves money that much faster between hands.

Keep in mind that money, like energy, is not lost, when it is spent, it only changes hands. Of course a government that lacks self-control and understanding of economics, can create money. That would then cause out of control inflation.

To assert that it is a mistake to allow the free market to control pricing in favor of potential and unrealized disasters is irresponsible. Stocks are worth what people feel like they are with. The economy is an expression of a meta- emotional state of the masses. To lead those masses into a state of panic and paranoia through the economy is an enormous disservice to the emotional zeitgeist of our time.

-Will (Dragonfly)

 

Well said.

 

Water level at low tide, just a few moments ago.

 

New study finds climate change will likely ‘intensify infectious disease outbreaks’ and cause mass mortality events in marine mammals

• Sea ice melting forces pinnipeds [seals, etc] to group together in high densities, which encourages pathogens to transmit
• The loss of sea ice could lead to new animal movement and an introduction to diseases to land and other animals.
  
• 61% of mass mortality events in marine life are linked to climate change
  
• Fish, mollusks, and crustaceans are especially sensitive to climate changes, which greatly reduces the amount of prey in the ecosystem, causing marine mammals to suffer from nutritional deficiencies

The study was published in Global Change Biology.

 

Tropical cyclonic winds beat my bananas like a rented mule.

Day 52.


Latest Alarmist Hurricane Study Easily Debunked – ‘Serious errors in the paper’ https://www.climatedepot.com/2020/11/12/latest-alarmist-hurricane-study-easily-debunked-serious-errors-in-the-paper/

 

In order for for there to be a "level playing field" for potential investors, companies are already required to disclose a lot of information about assets and liabilities. What the IMF is suggesting is that companies should also be required to disclose their vulnerabilities to climate change. "The Market" is still free to to evaluate that information however they wish.

 

Ending greenhouse gas emissions may not stop global warming

• Even if humanity stopped emitting greenhouse gases tomorrow, Earth will warm for centuries to come and oceans will rise by metres
• With no added CO2 the planet warms over the next 50 years to about 2.3 degrees Celsius above pre-industrial levels, and cools slightly after that
  
• After 2150 the planet resumes warming with temperatures climbing another degree over the following 350 years, and sea levels going up by three metres
• Three tipping points crossed are (1) contraction of Arctic sea ice, (2) thawing permafrost, and (3) increased water vapor in atmosphere
  
• "humanity is beyond the point-of-no-return when it comes to halting the melting of permafrost using greenhouse gas cuts as the single tool"

A number of leading climate scientists are skeptical of the study

The study was published in Scientific Reports.

 

The Fed is set to take on a new challenge: Climate change

• In recent days, several Fed officials have spoken regarding the importance of assessing the financial risks from climate change.
• The Fed’s financial stability report mentioned the issue for the first time.
• “We think this is a very big statement from the Federal Reserve,” said Steven Rothstein, managing director of the Ceres Accelerator for Sustainable Capital Markets.

 

We shall see about that.

 

Outsiders Weather and Ice Age Watch: Temperatures plunge in both Sydney and Siberia https://www.news.com.au/world/outsiders-weather-and-ice-age-watch-temperatures-plunge-in-both-sydney-and-siberia/video/f9af72526d79fa9d318c95dd2d1cfc50

 

Climate Change May Have Driven Ancient Human Species to Extinction

• This study focused on six of the recognized Homo species: H. habilis, H. ergaster, H. erectus, H. heidelbergensis, H. neanderthalensis, and H. sapiens
• Temperatures dropped 4 to 5 degrees Celsius just before H. erectus, H. heidelbergensis, and H. neanderthalensis died out
  
• The climate became drier before H. heildelbergensis and the Neanderthals died out
  
• The climate became wetter before H. erectus died out
  
• Before disappearing, H. erectus and H. heidelbergensis lost more than half of their niche to climate change
• Neanderthals lost about one-fourth
• Earth is projected to warm 2 to 5 degrees Celsius above preindustrial levels by 2100

The study was published in Sapiens.

 

So they killed themselves?

 

We need more sapiens around here for sure.

 

The Alaska Tsunami That Can't Be Stopped

• While many tsunamis are caused by earthquakes, some can be triggered by landslides.
  
• In Alaska, landslide-generated tsunamis are becoming more likely as many frozen hills thaw
• Geologists warn that an unstable slope in Barry Arm, in Prince William Sound, threatens the town of Whittier
• Scientists believe the slope is likely to fail within the next 20 years—and could even do so within the year
• The potential energy from a catastrophic slide here is approximately 10 times greater than that of previous events