gnarlylove
Senior Member
Human caused climate disruption and localized environmental degradation is increasing year after year with government hardly addressing the issue. As far back as 1965 the US government was entirely aware of this threat. That is, LBJ received memos regarding climate change. On down the line since LBJ, each President gave lip service and little more. Even President Obama announced resoundingly "Climate change is a fact." (State of the Union Speech, 2014). But we are massively increasing methane output as well as the standard CO2. Methane not only comes from natural gas but our production of animals has become increasingly a burden on the climate, mainly due to waste management.
So why is very little being done despite this firm recognition?
Any answer should include the elephant in the room. It's not the laughable skeptics per se. While the rest of the world has declined or stagnated, what has bubbled (and bursted, over and over again without regulation)?
You guessed it! Increasingly since the late 60s, the America has shifted from productive economy to a financial economy. The shift is based in speculation. The root cause, however, is capitalism according to John Bellamy Foster. That is, wealth is generated two ways: "involving the ownership of real assets and also the holding of paper claims to those real assets. Under these circumstances the possibility of a contradiction between real accumulation and financial speculation was intrinsic to the system from the start."
Currently over 70% of total American wealth is speculative, not based in real economy, the real world. That means concerning yourself with quarterly profit and "externalizing" the risk of climate change and degradation or other social costs. Indeed, systemic risk that was faced in the 08 crisis was externalized by the big banks through the "too big to fail" insurance policy from the government.
And we all know wealth buys elections. Who has the most wealth? Those with quarterly concerns, good financial capitalists with insatiable avarice. We are facing some serious "haircuts" to use the financial par excellence, if we continue as we are.
Speculation - Wikipedia, the free encyclopedia
Equally strong illumination on how financial markets are unconcerned with ecology available here: Financial Totalitarianism: The Economic, Political, Social and Cultural Rule of Speculative Capital
So why is very little being done despite this firm recognition?
Any answer should include the elephant in the room. It's not the laughable skeptics per se. While the rest of the world has declined or stagnated, what has bubbled (and bursted, over and over again without regulation)?
You guessed it! Increasingly since the late 60s, the America has shifted from productive economy to a financial economy. The shift is based in speculation. The root cause, however, is capitalism according to John Bellamy Foster. That is, wealth is generated two ways: "involving the ownership of real assets and also the holding of paper claims to those real assets. Under these circumstances the possibility of a contradiction between real accumulation and financial speculation was intrinsic to the system from the start."
Currently over 70% of total American wealth is speculative, not based in real economy, the real world. That means concerning yourself with quarterly profit and "externalizing" the risk of climate change and degradation or other social costs. Indeed, systemic risk that was faced in the 08 crisis was externalized by the big banks through the "too big to fail" insurance policy from the government.
And we all know wealth buys elections. Who has the most wealth? Those with quarterly concerns, good financial capitalists with insatiable avarice. We are facing some serious "haircuts" to use the financial par excellence, if we continue as we are.
Speculation - Wikipedia, the free encyclopedia
Equally strong illumination on how financial markets are unconcerned with ecology available here: Financial Totalitarianism: The Economic, Political, Social and Cultural Rule of Speculative Capital
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