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Reuters/Ann Saphir/9-10-2020
“Wildfires across the U.S. West are among the sparks from climate change that could ignite a U.S. financial crisis by damaging home values, state tourism and local government budgets, an advisory panel to a U.S. markets regulator found.”
USAGOLD note: Something else to add to the financial worry list …… One of the developments over the last few weeks that has caught our attention is the layering effect of piling one problem atop another. We were struck by reports over the weekend, for example, that the coronavirus had complicated wildfire evacuation efforts in Oregon and California. That advisory panel, by the way, is not some patched together political group but representatives of major oil companies, banks and asset managers who have a direct financial stake in what is occurring in the American west.
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