Climate crisis on track to destroy capitalism, warns top insurer
Climate crisis on track to destroy capitalism, warns top insurer
Action urgently needed to save the conditions under which markets – and civilisation itself – can operate, says senior Allianz figure
I'm glad something is destroying capitalism.
Wish we didn't pick "the hard way" but here we are.
Is there a "Goldilocks" zone where capitalism is destroyed but some humans survive?
Humans will survive short of something on the level of soil collapse.
Not many, but some.
I can imagine it in a situation where we effectively go back to the stone age, with little to no trade between the small (<50) communities
Iron age is plausible. Or the axial. Those were agrarian based economies. Some books would survive and preserve some knowledge.
Sitting on my driveway, revving my engine.
Oh no! Not our capitalism! Where will we get all our poverty?!?!
It'll destroy capitalism by creating many new causes of poverty. There won't be enough food, water or shelter and it's not going to be fun.
I want to say "don't threaten me with a good time", but we all know the first people to face the consequences of late-stage capitalism imploding are the ones that deserve it the least.
It will destroy capitalism by first destroying everyone and destroying every economic system everywhere.
If the US economy collapses because they elected a bunch of idiotic fascists rather than admit climate change is real, I don't know if corporations and the CIA will have enough money to fund enough mercenaries and propaganda to keep socialist revolutions suppressed. So maybe we will see actual left-wing economic systems popping up globally over the next couple years.
Judging from past experience and history ... they'll probably burn the world first before that happens.
And here I thought capitalism was on track to destroy our global ecology.
Unfortunately, a lot of the cash on hand for insurers comes from selling financial instruments like annuities. Annuities are something that retirees buy with their life savings to provide a fixed income. If the insurance industry goes bankrupt, it's taking a lot of people with it.
And I saw a post just a week ago about big banks planning to capitalize on climate disasters
It was their brokerage division recommending investing in Air Conditioning industry.
OP is a major statement by an insurer.