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Global warming takes too long. Financial and political systems are unstable on shorter time scales. Current events are paralleling the late 1800s. Interest rat
by Merrill 7y ago
Global warming takes too long. Financial and political systems are unstable on shorter time scales.
Current events are paralleling the late 1800s. Interest rates are very low, just as British Consol bonds were earning 2.75% in the late 1800s. The dominant British Empire was shifting from free trade to protectionism within the Commonwealth system as Germany rose, just as the dominant US is shifting from free trade to protectionism as China rises.