American Thinker: By Jack Hellner
Moody’s, the big Wall Street credit rating agency, believes it can tell the effect of a 2 degree temperature rise on the economy, eighty years from now. Anyone who believes such a garbage prediction and reprints it has no common sense. But here are some who did: Moody’s Analytics Says Climate Change Could Cost US$69 Trillion By 2100The consulting firm Moody’s Analytics says climate change could inflict $69 trillion in damage on the global economy by the year 2100, assuming that warming hits the two-degree Celsius threshold widely seen as the limit to stem its most dire effects.
Moody’s says in a new climate change report that warming of 1.5 degrees Celsius, or 2.7 degrees Fahrenheit, increasingly seen by scientists as a climate-stabilizing limit, would still cause $54 trillion in damages by the end of the century.
Mark Zandi of Moody’s Analytics said in June 2016 that Trump’s policies would tank growth and cause a surge in unemployment. Which is pretty rich. Moody’s and other agencies didn’t spot the housing bubble more than a decade ago, which was at the root of the recession that followed, even though it was obvious to anyone with a brain that that was what was coming. So either they’re dumb as a box of rocks or they didn’t actually care because they were making boatloads of money. And despite their pretenses to neutrality, they’re a political bunch, too. read more