Declining living standards, stagnant wages and Inflation is already leading to political instability around the world. The rise in support for fascism and the far right are directly linked to these factors. It seems climate change is already making these problems worse.
There’s another knock-on effect from this. One of the traditional central bank responses to inflation is higher interest rates. America has so much government debt it’s spending more money on the interest payments than it is on the military. Those annual interest payments are now at $1 trillion. It seems climate change will make them bigger by pushing up interest rates.
Declining living standards, stagnant wages and Inflation is already leading to political instability around the world. The rise in support for fascism and the far right are directly linked to these factors. It seems climate change is already making these problems worse.
There’s another knock-on effect from this. One of the traditional central bank responses to inflation is higher interest rates. America has so much government debt it’s spending more money on the interest payments than it is on the military. Those annual interest payments are now at $1 trillion. It seems climate change will make them bigger by pushing up interest rates.