This is an update of the 17 September 2018 release of this article analysing the economic costs of climate change on the U.S. economy in 2018. This update integrates the consequences, and especially the costs, of the super hurricane “Michael”, which hammered the Florida panhandle, then Georgia, North Carolina and Virginia, between the 10 and the 14 of October 2018 (Camilla Domonoske, “Michael Will Costs Insurers Billions, but Won’t Overwhelm the Industry, Analysts Say”, NPR, October 14, 2018).
“Michael” took over from “Florence”, the monster storm that hit and battered the U.S. East Coast on 12 September 2018. It looks like a new climate-related disaster “peak”. It could announce a transition towards possibly worse, considering the last 12 months of climate hellish conditions.
Thus, a major question arises: is climate change becoming a major risk for the U.S. economy? If yes, how should economic actors react (Jean-Michel Valantin, “Climate Change: The Long Planetary Bombing”, The Red (Team) Analysis Society, September 18, 2017)?
On 24 September 2018, the U.S. Secretary of Commerce imposed new tariffs on 200 billion dollars worth of Chinese goods, thus widely escalating the “trade war” initiated by president Donald Trump against China in April 2018. Beijing immediately retaliated with tariffs on 60 billions worth of American goods (Will Martin, “China Hits Back at Trump… Read More
In May 2013 and February 2014, Secretary of State John Kerry defined climate change as a global strategic threat. In May 2013, he declared: “… A principal challenge to all of us of life and death proportions is the challenge of climate change… So it’s not just an environmental issue and it’s not just an economic issue. It is a security issue, a fundamental security issue that affects life as we know it on the planet itself, and it demands urgent attention from all of us” (John Kerry, Remarks with Swedish Prime Minister Fredrik Reinfeld, May 14 2013). In February 2014, on a diplomatic tour in Jakarta, he said: “When I think about the array of global climate – of… Read More
As expected last week the situation in Egypt did not stabilize and many other issues escalate. Also, of particular interest this week as weak signal, we find the importance of religion in times of hardship, when all hopes seem to be lost. Considering the power of mobilisation and radicalisation of religion, this factor is to be kept in mind.
Last weeks’ summary: In 2012 EVT, Everstate (the ideal-type corresponding to our very real countries created to foresee the future of governance and of the modern nation-state) knows a rising dissatisfaction of its population. To face the various difficulties and widespread discontent, in a first scenario, Everstate’s governing bodies implement the Mamominarch programme of drastic reduction of state spending over five years through devolution, privatisation and outsourcing. By 2018 EVT, the result is involution, with a fragilised governance including and implying the rise of lawlessness domestically, an abandoned mastery over international security, an inefficient economy and, as consequence, a rising insecurity for most Everstatans. The first set of tragic events – a tornadoes outbreak followed by a heat wave – that hits the West of Everstate soon becomes a complex catastrophe with dramatic… Read More
(update 14 Feb 2014) Any type of similar natural events and catastrophes can be imagined to strike countries, as, for example, storms and floods in Western Europe or snow storms in the U.S. during the Winter 2013-2014. Last weeks’ summary: In 2012 EVT, Everstate (the ideal-type corresponding to our very real countries created to foresee the future of governance and of the modern nation-state) knows a rising dissatisfaction of its population. To face the various difficulties and widespread discontent, in a first scenario, Everstate’s governing bodies implement as policies the conclusions of the Mamominarch Commission: a programme of drastic reduction of state spending over five years through devolution, privatisation and outsourcing. By 2018 EVT, the result is involution, with a fragilised governance including and implying the rise of lawlessness domestically, an abandoned mastery over… Read More
Tragic events strike Everstate. We witness tornadoes and drought, war in the Middle East and even a major industrial accident, while a new episode of financial crisis starts. These are instances of the various conditions presiding to Everstate’s destiny, considering what has been done, or not, globally, regionally and within Everstate.
The same set of events should be used to stress test each scenario. The logic of the scenario will however comes first, assuming it impacts the plausibility of the event. In that case, ….
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