Timothy Birdnow

Wildfires to bring down the economy?

From Reuters:

Economists have traditionally seen natural disasters like wildfires as localized shocks. That’s changing [or it is still localized], according to the report, produced by a 35-member panel for the Commodities Futures Trading Commission. The group included representatives of major oil companies, banks and asset managers.

MARKET PERCEPTIONS
Climate catastrophes [or large regional forest fires] can make investors aware of risks not priced into markets, the report said.
"A sudden revision of market participants’ perceptions about climate [or poor forest management] risk could trigger a disorderly repricing of assets, which could have cascading effects on portfolios and balance sheets and, therefore, systemic implications for financial stability,” the report said.

Sounds to me like the Left is trying to set up an excuse for the bad economy if Biden wins.

It also is an attempt to frighten skittish investors so the economy does not come back prior to the election.

Posted by: Timothy Birdnow at 07:45 AM | Comments (2) | Add Comment
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