Public Debt, Climate Change, and Future Generations

I look forward to the day my grandchildren ask me “Why didn’t you invest when interest rates were negative? It could have limited global warming as we burn today. ”

I will say then, “Very smart people thought that the public debt was too high. Negative rates were then an opportunity to reduce it” and they answer me “isn’t it a lack of foresight, of perspicacity?”

The climate challenge for future generations is more important than an accounting view of the public debt. We fear to leave them a debt too high that could constrain them. Not taking advantage of current opportunities is the best way to constrain their life and their future.

Climate Change indicators change dramatically – Time to wake up

The chart on trend in atmospheric CO2 has been seen in every newspaper. In early May, concentration of CO2 was above 400 parts per million (ppm) for the first time in 4.5 million years. This could allow some alarmist articles. But once they are read every one of us goes back to its usual business. The main challenge of the planet does not change our everyday life, expecting that someone else will take care of it and will be able to change the future. Continue reading