21 Sept 2008 --Didn’t we see it coming? I’m thinking about the financial crisis and the warning to Congress that “the end is near” if we taxpayers don’t buy up all the bad loans.
I wonder if the same thing will happen to the environment. We know it’s bad. But just a few more oil platforms… just a few more coal mines… just a few more years of gas-guzzling mileage standards… Then SUDDENLY coastal cities will be flooded and the lights will go out and we’ll all be holding hands wondering how it happened SO FAST.
The financial markets are an abstraction – a game that can be stabilized by a bailout. When the global climate passes its tipping point into meltdown, bailout will be a tad harder.