Risk On Risk Off: Likely or Unlikely, Catastrophic or Not

“Risk on” and “Risk Off” are terms heard among stock market traders, analysts, and investment advisors. They indicate whether the speaker feels that risk is high or low for investing in markets or in a particular stock. Risk is always a matter of degree, except under conditions of certainty—and when does that happen? Yet, “risk … More Risk On Risk Off: Likely or Unlikely, Catastrophic or Not

The Infrastructure Illusion: Historic Neglect and Crucial Confusion

The confusion is palpable as it is widely ignored. We have a new, slightly progressive administration headed by Joe Biden, the empathetic traditional former long-term senator. He knows how to “reach across the aisle” and make deals with Republicans. But wait, those senators were the Republicans of old, who were actually willing to make compromise … More The Infrastructure Illusion: Historic Neglect and Crucial Confusion

Earth System Discontent with Civilization

Climate scientist Dr. Andrew Glikson’s brief assessment of our global prospects in his article, “How long for civilization?” is uncomfortably right on target. He begins his short essay, published the day after Christmas, 2020, with an epigram consisting of Albert Einstein’s famous statement, ‘The definition of insanity is doing the same thing over and over … More Earth System Discontent with Civilization

Stranded Assets and Planetary Liabilities

When investment banks talk of the known reserves of oil and gas that may be left in the ground if climate policy ever were to sequester them, they call them potentially “stranded assets.” The investment banks that finance exploitation, drilling, fracking, and pipelines, see all forms of petroleum only as financial values once inserted into … More Stranded Assets and Planetary Liabilities