Sabine Hossenfelder 
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Recently, finance and insurance experts have begun warning that climate change might spell the end of capitalism as we know it. Blind alarmism or reasonable fear? Letโs take a look.
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About The Author
Who's really a socialist? Many people go to college to eventually earn more than the average salary. Once the hypocrisy ends the truth can be revealed
Where is Kaliningrad on your map? Part of Poland?
Errors in maps are some time a crime
This is nonsense. The reason there is more environmental damage to property is because people increasingly build in areas prone to natural disaster. They do this because of insurance. This will simply mean people will have to have smaller homes in safer areas, like they did 100 years ago before insurance was so readily available.
People had homes and borrowed money before insurance existed so pervasively.
civil war
Okay so let say climate change brings with it more extreme weather like tornados and tsunamis which I think is the extra risk he is referring to well if that is the case you would just charge a premium if your house isn't for example earthquake proof. More areas will become problematic areas like right now you wouldn't build your house on the site of a volcano you'd not get it insured so places like that where no one will insure your house would become more common but there's so much space for us to move into and in almost every major western country population decline is happening so no I don't think this will destroy capitalism I think that guy is an idiot only able to think inside his own bubble.
Oh insurance is not needed to get a mortgage. I bought my house without house insurance and I have still not got home insurance.
Good
I think climate change could kill capitalism in that it kills everyone. Apart from that capitalism isn't something you can really opt out of it's based on supply and demand which are constructs that are difficult to control. Look at the war on drugs they tried to stop the supply but they didn't reduce the demand so the price went up but people still take the drugs
Nah, the capitalism will adapt. It has adapted to wars, pandemics and other catastrophes in the past, will adapt to the weather too.
I find the people who complain about capitalism a bit weird like they are not happy with how the government is spending their money or they don't think the government is taking enough of their money but then they don't seem to spend their money on any of the things they want government to do. Like you want universal healthcare? Great give money to a charity that provides healthcare to the poor.
Should you trust half communist propaganda machine Guardian?
Plate Techtonics will destroy capitalism.
Slowing growth at any cost style capitalism and global trade seems to me to be a gentle way to lower carbon emissions.
All the scientific evidence in the world is not enough to convince a Boomer that capitalism is the source of the problem
Greed and over regulation killed the free market decades ago, this is the result. State of fear is how they keep you paying.
RAY
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Hmm, but why wouldnยดt this not just move the needle more towards renting than owning? Itยดs not that houses could no longer be bought, just not on credit. And when they no longer are a lucrative investment because of higher risk, wouldnยดt that bring prices down?
We need insurance for planet Earth for when it gets unsuitable for humans, so that we can start over on another planet. Burp.
One possibility is that if people cant insure the houses and buildings that where built with pre climate crisis designs, maybe people will look around and inovate with the designs that are survivable. If we change what we build we will be insuring ourselves. If we build fire resistant buildings we ensure fires burn down fewer buildings. Floods same idea different design parameters. Earthquakes are an example of alterations that bave been done to make west coast buildings more survivable if a big one hits.
The cost to repair a home is the same no matter who pays for the repairs.
So government is the solution??
California's Fair Plan (fire insurance of last resort) can't pay existing claims.
California won't allow insurance companies to raise rates enough to remain viable.
California fails to maintain the fire departments, water infrastructure, and land management.
they're using climate issues to dodge the real reason why current markets will inevitably fall. there are ways to delay it, but nothing will stop it but a change in the current system. the key is in the word 'fiat'. it means 'faith', and is the basis of the us economy since august 1970. in other words, since most countries around the world have bought into the us debt through buying us bonds, the whole world's money is no longer based on a limited resource, making rampant hyperinflation ultimately inevitable in order to pay the interest on loans based on faith. think germany's 1928 economy worldwide. the loss of industry in the usa has effectively accelerated the effect because the us isn't producing as many products as would be needed to stave off this effect.
youยดre so funny, Sabine. i love it. "still 50% more serious than the us government" LMAO
Coming to pass…
if robots come through, capitalism as we know it will end one way or another
did you really need AI to generate an image of a coal mine? are you fucking serious? STOP
protecting wild life when children in Gaza are facing genocide. Ur really genius. Tons of bombs dropped in Gaza has no impact to global warming.
Just more tunnel vision from people who think the sky is falling. Can't insure a house on the ocean? Hey, move inland. Problem solved. I live where there are no hurricanes, tornadoes, large swaths of timber that hasn't been cleared of brush for ages or large earthquake faults. And the house is well above flood level. I only worry about internal fires, so smoke detectors everywhere.
In Texas, my father, who only had an 8th grade education, built a house above hurricane surge level, designed to withstand hurricane winds, with window frames predrilled to install plywood before hurricanes approached. Sixty years later, that house is still standing.
LOL, politicians and NGOโs did that years ago. We are only finding out now!
Term limits, financial audits, voter ID, prosecute for past and present crimes.
A career in politics is an invitation to corruption.
What a good consequence!
The cannery in the coal mine?
No, tRUMP is destroying it…
Whoa, what a surprise, people won't be able to insure against realistic threats, didn't see that coming. I'm pretty sure the insurance costs overshoot the insurance covering expenditures by a large amount, hence why someone can actually make a living of the difference. I suppose there are cheaper ways of collecting shared budget for covering unexpected situations. At least in my country, there are big cheques sunk in insurance marketing dept.
I think you are right. As for the insurance: we need to think of a different system for this, not a profit-driven system, but more like a communal one, with individual contributions. The hardest thing will to get it accepted for a mortgage. On the other hand, house prices will collapse, so people will be able to buy a home without mortgage!