The Atlantic: Forget President Biden, Climate Change is Causing Inflation

[Valin]

Watts Up With That

Eric Worrall

Feb. 2 2022

According to The Atlantic, Biden didn’t cause inflation by dumping crazy amounts of money into the economy, the inflation occurred because climate change prevented the economy from responding the way it was supposed to.

Quote

The World Isn’t Ready for Climate-Change-Driven Inflation

Extreme weather and energy uncertainty are already sending prices soaring.

By Robinson Meyer

…

Over the past year, U.S. consumer prices have risen 7 percent, their fastest rate in nearly four decades, frustrating households and tanking President Joe Biden’s approval rating. And no wonder. High inflation corrodes the basic machinery of the economy, unsettling consumers, troubling companies, and preventing everyone from making sturdy plans for the future.

(Snip)

For years, scientists and economists have warned that climate change could cause massive shortages of major commodities, such as wine, chocolate, and cereals. Financial regulators have cautioned against a “disorderly transition,” in which the world commits only haphazardly to leaving fossil fuels, so it does not invest enough in their zero-carbon replacements. In an economy as prosperous and powerful as America’s, those problems are likely to show up—at least at first—not as empty grocery shelves or bankrupt gas stations but as price increases.

That phenomenon, long hypothesized, may be starting to actually arrive. Over the past year, unprecedented weather disasters have caused the price of key commodities to spike, and a volatile oil-and-gas market has allowed Russia and Saudi Arabia to exert geopolitical force.

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Read more: https://www.theatlantic.com/science/archive/2022/02/greenflation-prices-inflation-climate-change-coffee-lumber/621456/

 

Obviously the solution is for President Biden to keep shutting down pipelines and mining leases and dump even more money into the economy, until the supply chain magically heals itself and inflation eases.