You’ve felt the pain. The groan-inducing way your wallet bursts open whenever you have to…pay for stuff these days. Basics. How fast is the price of food…still…rising? Upwards of 10%, by some estimates. The elemental necessities are skyrocketing upwards. That’s not just because of the war in Ukraine, it’s not because of Covid, which is no longer, rightly or wrongly, a public health emergency — it’s because, at this point, of climate change. We’ll come back to that. First, the point.
One of the great, dismal trends of this age is going to be profiteering — on a historic, jaw-dropping scale.
There are already three economic effects of climate change, which we’re ignoring, resolutely, probably because, well, everything else is going wrong, and it’s easier to be hypnotized by the spectacle of Trump doing a perp walk, or fascists banning books at schools, and so forth. Those three effects, though, go like this. Prices rise. Corporations profiteer. And our economies go haywire.
Real incomes are plummeting. That’s not a coincidence, that’s a relationship…
Want to Know Why Your Wallet’s Hurting? Profiteering – On a Dying Planet. Take a hard look at the chart above. If it doesn’t take your breath away…it should. My job, unfortunately, is to warn. To break bad news. More of the time than I’d like, in this dystopian age.