Moody’s missed the housing bubble but can predict the effects of climate change on the economy?

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.

 …and…

Economist Zandi, who predicted a ‘lengthy recession’ under Trump, now says that’s unlikely

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

10 Comments on Moody’s missed the housing bubble but can predict the effects of climate change on the economy?

  1. There. Fixed it for ya, with my own additional “common sense” commentary. Yer welcome.

    Moody’s Analytics Says Climate Change Could (Cost) Save US$69 Trillion By 2100. The consulting firm Moody’s Analytics says climate change could (inflict) save $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) savings by the end of the century.
    (additional comments)
    The savings would come in the form of lower costs for warming buildings and residences, and would be slightly offset by higher costs for cooling (swamp cooler and air conditioning).
    With the possible addition of two, possibly three crop growing cycles per growing season, additional savings would come for consumers in lower food costs.
    With the raise in temperature, there could be a raise in the atmospheric CO2 levels, with the earth becoming greener, to the benefit of all.

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  2. I dabbled in the stock market for a few years and these so called analysts almost never got it right. And there was so much inside trading going on amd market manipulation that it was nothing more than buying lottery tickets. See General Electric for example.

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  3. After 24 years of clinton/bush/Obama-Clinton, our institutions are totally corrupt. So is this outfit, the Gillette of investment houses. All that’s missing is are the weird commercials.

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  4. The sea levels rose about 440 feet over the past 11 millennia, there is zero argument about that. But 4 more feet this century – an outside estimate – is going to destroy civilization???

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  5. Moodies is small potatoes. You wanna know just how screwed up these hucksters are?
    They’ve even got the Bank of England’s head, Mark Carney, saying that central bankers must make climate change a top priority.

    Make sure you own some gold.

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  6. The ONLY thing Moody’s can accurately predict, is their coming need for ANOTHER gummint handout. 🙄

    Good LUCK getting it from THIS President!

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  7. At the rate that politicians are screwing up economies world wide, 69 trillion dollars in 2100 will probably be equal to $5.68 in today’s money. Now if Moody’s had expressed their prediction in bazillions or megagazillions of dollars, then we may pay attention.

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