The bottom line is, the science has been decided, and industry and finance - and markets too - all agree. There are only a few holdouts now in the global warming/climate change denial camp. Their numbers are small, but the attention they get from Big Petrochemical Media (BPM) is large so it's hard to notice them ripping off as much as they can from various carbon welfare schemes. The result is a huge climate debt being racked up in America's name.
But Americans will never pay their carbon debts no matter how much it hurts them not to do so.
They behave like home owners who've gone 'negative equity' on homes they can't sell and walk away; leaving behind 'jingle mail' for the bank.
Americans are walking away from their carbon debts.
Considering the proportion of pollution Americans contribute to the causes of global warming/climate change relative to their small size as a population (less than 5% of the world's population), simple math will tell you that the 1 trillion in damages done recently by Americans to the global environment works out to about $10,000 for every American household in climate debt obligations.
Add this to each American family now on the hook for over $10,000 to pay for the war in Iraq and another $10,000 for the war in Afghanistan. Add too, Americans owe close to $50,000 per household for the bailout of foreign banks (via the TARP fund and other related Special Purpose Wealth Confiscation Funds - SPWCF's).
None of these debts is being paid; and not even the elimination of Social Security will do the trick. So the $10,000 in carbon pollution expense, like the other bills, goes unpaid like so many that come sliding underneath America's door. Too bad, because the carbon bill is the only bill that matters.
The interest on these debts hovers in the 5 - 6% range - per the packaged debt borrowed from Wall St. banks at 0% - then loaned back to Americans - with Wall St. pocketing the spread as part of their Fed enabled welfare scheme.
As we now know, Wall St. profits are based on borrowing unlimited amounts of money without paying any interest so that they can speculate on loans to unemployed Americans who, if they don't pay, trigger bailouts of Wall St. that in turn trigger higher tax rates and service cuts of roads, street lights, sewers and various infrastructure essentials; police and firefighters.
But now that most Americans live in tents and ditches by the roadside, (Wall St. is buying Gold to offset the dearth in suckers - notice gold is going up during the current period of deflation); the interest on the climate debt is PIK, Pay In Kind.
Instead of cash interest costs (that Americans don't have because they're broke), the climate debts are paid with the guaranteed escalation of the destruction of air, water and sea with accompanying extreme weather events disrupting both the ecology and the economy. The eco-eco holocaust trade has never been more profitable.
If you are a big bank lender or Warren Buffett, you can increase your return by buying catastrophe bonds that pay you back for every man made ecological disaster that comes our way. This cash back for climate holocaust security trading augments the income generated by selling insurance against extreme weather events - whose premiums keep going up - because of the extreme weather events caused by man made global warming and climate change.
The amount of return one can generate by insuring and trading securities tied to self-perpetuated ecological havoc is high; certainly higher than the rate of inflation which happens to be a deflationary negative 2% thanks to the loss of jobs, wages, home prices and pensions - thanks in part to unpaid global warming and climate change bills.
The prime source of revenues and profits for the most profitable companies in the Fortune 500 is arson with an equity kicker wrapped with an insurance product that is paid for by the issuance of more securities whose value increases the faster we commit species wide suicide.
Here's an idea to make a quick billion dollars; wrongful birth insurance.
Children will soon pop out of the womb and start suing their parents for 'Wrongful Birth' since the parents knowingly conceived the child during a time of less than one lifetime's worth of ecological income of air, water and land to sustain life without huge additional costs associated with the intake of expensive synthetic versions.