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Everything’s About to Get a Hell of a Lot More Expensive Due to Climate Change
Intensifying hurricanes, floods, and heat waves are wreaking havoc across the country—and on all of our bank accounts.
Some economic indicators remain stubborn, however—and they aren’t likely to abate anytime in the near future, no matter how long the Federal Reserve keeps interest rates high, what tweaks President Joe Biden makes to his trade policy, whether corporations decide themselves to slash prices on certain products, or whether Covid-battered supply chains finally get some long-needed fixes. The outdoor workers supplying such necessities are experiencing adverse health impacts from the brutal weather, and the recent record-breaking influxes of migrants from vulnerable countries—which, overall, have been good for the U.S. economy—are in part a response to climate damages in their home nations. At the state level, insurers are pushing back against local policies that bafflingly forbid them from pricing climate risks into their models, and Florida has new legislation requiring more transparency in the housing market around regional flooding histories.
Or read this on Wired
