The "system" Roberts is talking about in his VOX piece, "We have no system to deal with escalating climate damages. It's time to build one," is an alternative to the present hyper-real real estate market. "The nightmare scenario" for South Florida homeowners he says, "is that real estate markets will catch on to climate change...and tank." If you had no insurance and you were faced with investing another $500,000 into a dwelling that is sure to be at the mercy of the unavoidable next hurricane, why wouldn't you invest in a "safer" part of the country? Scientists are saying that one thing we now do know is that the world's major coastal cities will inevitably be flooded and unlivable due to sea rise already locked-in - that is fact. Wouldn't the rational response be the beginning of a massive wave of internally displaced U.S. citizens? If not now, then very soon? (Not to mention the larger issues of environmental refugees from US citizens who don't have the luxury to "reinvest" as well as those from the Caribbean and elsewhere in the Global South.) And what happens when the real estate market "tanks" and the rest of the economy goes with it? This is another issue of capitalism's problem with 'stranded assets'. We are living amidst the problem of a massive bubble of stranded assets and stranded ethics/intellect/action as crisis deepens and the moment of decision is building. I'm looking for ways that this is significant in my immediate life and personal connections...as well as collective response. Any of you?
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