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I began this thread with a longer piece analysis which places the current LA fires as a pivotal point in history. The writer believes they are that serious and that significant.
The fires are not even controlled at this stage. The graphs John Dee posted from The Economist highlighted just how off the page the damage and the timing of the fire is. These size fires in mid winter !!! Holy xhit.
One of the absolute key issues about this disaster is that rapidly increasing temperatures caused by global warming are the key to the ferocity and timing of the event. In fact one can make exactly the same statement about the string of massive unheralded wildfires in the past few years. The destruction Fort McMurry in Canada in 2016. The massive fires in Greece, Italy, Siberia. Then there is the succession of record wild fires in California and Canada over in recent times. But California is in another league in financial terms when it comes to costly wildfire damages. I believe that is why Steve Schmidt things this is the event, like the sinking of the Titanic, that will turn history.
Politically there is still total denial from US Republicans generally and Donald Trump in particular that human created global warming is the major driver of these events. And consistent with that denial is the refusal to realise that the situation can only get worse as temperatures increase.
What does worse mean ? For a start lets see how the insurance industry operates as this disaster unfolds. I opened a thread on this topic elsewhere. It isn't hard to join the dots and see how financial systems, banks and communities will become very unstable when insurance becomes prohibitive or impossible to obtain.
ASF is an investors forum. Investors don't win if the market ignores existential risks.
The fires are not even controlled at this stage. The graphs John Dee posted from The Economist highlighted just how off the page the damage and the timing of the fire is. These size fires in mid winter !!! Holy xhit.
One of the absolute key issues about this disaster is that rapidly increasing temperatures caused by global warming are the key to the ferocity and timing of the event. In fact one can make exactly the same statement about the string of massive unheralded wildfires in the past few years. The destruction Fort McMurry in Canada in 2016. The massive fires in Greece, Italy, Siberia. Then there is the succession of record wild fires in California and Canada over in recent times. But California is in another league in financial terms when it comes to costly wildfire damages. I believe that is why Steve Schmidt things this is the event, like the sinking of the Titanic, that will turn history.
Politically there is still total denial from US Republicans generally and Donald Trump in particular that human created global warming is the major driver of these events. And consistent with that denial is the refusal to realise that the situation can only get worse as temperatures increase.
What does worse mean ? For a start lets see how the insurance industry operates as this disaster unfolds. I opened a thread on this topic elsewhere. It isn't hard to join the dots and see how financial systems, banks and communities will become very unstable when insurance becomes prohibitive or impossible to obtain.
ASF is an investors forum. Investors don't win if the market ignores existential risks.
List of wildfires - Wikipedia
en.wikipedia.org