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View Diary: White House Meeting on Arctic Media Blackout (143 comments)

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  •  Problem is... (3+ / 0-)
    Recommended by:
    New Minas, stevej, orlbucfan

    ...this government is owned, lock, stock, and barrel, by the elements of that private sector that created and are encompassed by

    this era of hyper-financialization and the focus on short-term profits.
    Until that changes,....
    •  When climate change begins to hurt their profits (1+ / 0-)
      Recommended by:

      is when we'll start to see significant efforts towards fixing this issue. Thing is, with our economy being so hyper-financialized these days, it's inevitable that long-term financial forecasts begin to factor in the negative effects of climate change on their profit models, leading to major swings in the financial markets, which could prompt companies to take action on this front out of fear of being financially destroyed. I can't quantify this but I suspect that this will happen, the only question being whether it'll be too late by then.

      "Liberty without virtue would be no blessing to us" - Benjamin Rush, 1777

      by kovie on Wed May 01, 2013 at 07:19:30 AM PDT

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      •  or (0+ / 0-)

        will they work to find a way to continue to make profits within the changing environment?  Until the clearly destructive nature forces them to take notice.  Unfortunately, by that time it will be too late.

        •  There's only so much wealth one can extract (0+ / 0-)

          via exploitation and speculation, especially in a world of diminishing net value with all the destruction we're seeing and face. Sooner or later, the system will self-correct, albeit after much unnecessary physical and human damage occurs. The purpose of government is to correct things before that happens.

          "Liberty without virtue would be no blessing to us" - Benjamin Rush, 1777

          by kovie on Wed May 01, 2013 at 11:10:22 AM PDT

          [ Parent ]

      •  It's already threatening some profits (1+ / 0-)
        Recommended by:
        Brooklyn Jim

        You know the insurance companies are intently interested in this, as well as many businesses that know they will face property losses.

        “Texas is a so-called red state, but you’ve got 10 million Democrats here in Texas. And …, there are a whole lot of people here in Texas who need us, and who need us to fight for them.” President Obama

        by Catte Nappe on Wed May 01, 2013 at 07:54:06 AM PDT

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        •  There are industries that simply cannot exist (1+ / 0-)
          Recommended by:
          Catte Nappe

          at least in a form we could recognize without insurance, such as transportation and real estate, and if insurers decide that they're too risky because of climate change, then those industries cease to exist. Of course this doesn't happen overnight, giving both insurers and industries time to adapt. But if they don't, they die. Not everyone in the business and financial worlds is focused only on short-term wealth extraction, and we look to them for leadership.

          "Liberty without virtue would be no blessing to us" - Benjamin Rush, 1777

          by kovie on Wed May 01, 2013 at 11:08:06 AM PDT

          [ Parent ]

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