Climahypocrite Sheldon Whitehouse Climate Climate Crisis (scam) Could Crash Financial System

Obviously, no one at The Hill, which published this, bothered to push back or demand actual proof

Sen. Whitehouse: Climate change could crash the financial system

The Hill reported earlier this month on how opaque decisions within the insurance industry were laying the groundwork for where Americans will live as the planet heats.

But the risk goes beyond that, many experts warn: The complex interrelationships between insurance, mortgage lending and the broader financial system have made climate change “an emerging risk to financial stability,” according to the 2023 report by the Financial Stability Oversight Committee.

Once upon a time, er, experts warn

Senate Budget Committee Chair Sheldon Whitehouse (D-R.I.) has been a principal voice warning of the financial risks spilling over as climate change impacts the insurance industry.

Sen. Whitehouse sat down with The Hill to discuss why he worries climate change poses risk to the global financial system and the role of the Senate in addressing it.

Would this be the same Whitehouse who takes numerous fossil fueled flights monthly between Rhode Island and D.C., rather than taking the train, which is easily accessed from R.I.?

Q: Some experts warn about the potential of Great Recession-style systemic risk from climate insurance — but others argue that, however serious that risk might be, it’s fundamentally a regional issue, restricted to places like Florida. Which side of that do you come down on?

Whitehouse: There are very significant indicators and it’s going to be big, national, and even global. A number of studies show a very high risk to the world economy from calamities — and insurance is at the heart of that.

The Florida insurance market is more or less circling the drain right now in the way in which Freddie Mac’s chief economist predicted: that with the danger of sea level rise and coastal storm activity, coastal properties become increasingly expensive to insure and then they become uninsurable.

Of, the problem here is that the media and all sorts of hysterics have warned and scaremongered to the point that the insurance companies aren’t looking at actual data, which is then combined with the skyrocketing costs of homes and repairs.

Q: For the Senate Budget Committee — what legislative intervention could help defray some of that risk? 

Whitehouse: I mean, obviously, solving the climate problem would put a huge amount of this risk out under better control.

In other words, the federal government controlling the economy.

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