Sunday, October 14, 2007

Global Warming And Asset Bubbles

Economic growth over the past century has severly taken a huge toll on world's eco-system and there is no sign of abating this mindless growth which solely considers industrialisation and commercialisation as the only measure of wealth and prosperity. With almost no realisation and remedial measures in place, and with almost zero political will to implement key environment protection methods, eco-system disaster can only degrade to such an extent that almost it's inevitable to see a sharp fall in asset prices which today are totally avoiding any fall out of a huge environment disaster like wiping out of a huge productive population from an entire continent, with crops across the globe not enough to feed all humans, with living conditions detoriating to such an extent that diseases will take a huge toll on working population and many more things which are today un-imaginable. Huge wealth will be destroyed in such disaster and aftermath will be very prolonged.
Therefore plicy makers should listen to experts in ecosystem so that corrective methods can be employed so that future is protected, without which there is no meaning of wealth. But super rich can argue that they can migrate to moon and mars in case earth goes into a turmoil!