Surprise: Bank Of America Says Going Green Could Hurt The Economy

But, see, they say it will totally lift the economy in the future! Well, the stock market. Not necessarily your pocketbook

Going Green May Hurt at First — But Fighting Climate Change Will Boost the S&P 500
Here’s where stocks will benefit most from climate change policies under President Biden, according to Bank of America.

Battling climate change will cost the U.S. as it moves toward a green economy — but the transition is crucial and will pay off for stocks and long-term growth, according to Bank of America Corp.

Climate change policies are mostly positive for the S&P 500 index, particularly in the long-run, Bank of America economists and equity and quantitative strategists said in a research report dated February 11. Corporate profits should rise as U.S. public and private sectors catch up to Europe in the fight against rising global temperatures, they predicted, benefiting the stock market.

Transitioning to a green economy will bring about innovation while addressing financial stability concerns linked to extreme weather events — such as droughts, wildfire, hurricanes, and coastal flooding — caused by a warming planet, according to the report. And while climate policies may weaken near-term growth, Bank of America expects the policies will ultimately lead to “significant positive” developments.

“A sharp tightening of carbon emission policies through taxes and regulations can come with a cost to the economy,” the bank’s economists and strategists said. “But it will also likely come with greater investment in green infrastructure, which is a net positive, all else equal.”

Well, that is weird, because climate cultists keep telling us that implementing all these climate cult measures won’t hurt the economy at all. In fact, they say it would lift it. They never said it would harm it quite a bit before supposedly lifting it up.

BOA also says warmth will cause lots of issues if we don’t Do Something

They said a one degree increase in the daily average temperature above 15 degrees Celsius (59 degrees Fahrenheit) reduces productivity by 1.7 percent. The current path of rising temperatures may slash global GDP by as much as 25 percent by 2100, according to Bank of America’s research, which cited work done by consultants at the Group of Thirty.

Well, that’s interesting, since prosperity tends to occur during Holocene warm periods, not so much during the cool ones. And, despite the slight rise in temperatures since 1850, the world has seen some serious gross. But, this is about fearmongering. So, give up your money and freedom and choice to government, y’all! It’s for Your Own Good.

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12 Responses to “Surprise: Bank Of America Says Going Green Could Hurt The Economy”

  1. Hairy says:

    By socialism do you mean things like Medicare? Pls define what you mean by tgat term socialism

    • Est1950 says:

      Hairy my friend it is pointless to explain anything to you because you are not here to be persuaded or educated. You are here to incite anger and to troll with your version of bigotry.

      You don’t understand or don’t care that your own party is now the party of billionaires and Mega Corporations and if you think SOCIALISM or medicare for All or any of the things you believe in are ever going to happen. Well.

      Good luck with defending the left. Because in the end. In totality, it is about a few issues for the left and for you.

      SJW, Mass Immigration and AGW. No matter what it takes. No matter how many towns you have to burn down.

      All three of these issues that are the central component of the radical left are economic issues designed to Cloward and Piven America into capitulation.

  2. drowningpuppies says:

    Looks like other people around the world are tiring of the lie.

    https://www.irishpost.com/news/entire-ireland-rugby-team-refuses-to-take-the-knee-before-six-nations-tie-against-wales-203307

    #ErinGoBragh
    #UnityMotherf@ckers
    Lolgf https://www.thepiratescove.us/wp-content/plugins/wp-monalisa/icons/wpml_cool.gif

    • Est1950 says:

      Ever since the Black Lives Matter movement erupted into the mainstream following the death of George Floyd at the hands of American police officers last May, sportsmen and women around the world have been ‘taking the knee’ prior to kick off to show support for the fight against racism.

      ALL of EUROPE is angry with the UNITED STATES. Angry as hell that the SJW movement is destroying their own cultures.

      Many have outwardly stated such. Your picture and article is just one of 1000’s popping up all across the EU where the USA has become the cesspool of social ideas and not the leader of the world.

      Anyone on the left who thinks the world is with them on the SJW issue is NUTS. Many nations are beginning to see the destructive power of SJW led by the CCP of China to destroy the PUSH BACK and to fall in line with the SOCIAL STRUCTURE used to control the masses in CHINA.

  3. Elwood P. Dowd says:

    The Bush II Great Recession and the Trump 2020 Recession hurt the economy more than a little renewable energy will. The article modeled a slight drop with a long term positive outlook.

    Plus global warming will slow and “skeptics” will still be angry. It’s a win-win-win!

    • drowningpuppies says:

      Yeah more solar panels and wind turbines will soooo alleviate the rolling blackouts.

      You’re not very smart, Rimjob. https://www.thepiratescove.us/wp-content/plugins/wp-monalisa/icons/wpml_wacko.gif

      #BelieveTheLie
      #TrustUs
      Lolgf https://www.thepiratescove.us/wp-content/plugins/wp-monalisa/icons/wpml_cool.gif

  4. Elwood P. Dowd says:

    Harry S Truman on socialism:

    Socialism is a scare word they have hurled at every advance the people have made in the last 20 years.

    Socialism is what they called public power. Socialism is what they called social security.

    Socialism is what they called farm price supports.

    Socialism is what they called bank deposit insurance.

    Socialism is what they called the growth of free and independent labor organizations.

    Socialism is their name for almost anything that helps all the people.

    When the Republican candidate inscribes the slogan “Down With Socialism” on the banner of his “great crusade,” that is really not what he means at all.

    What he really means is “Down with Progress–down with Franklin Roosevelt’s New Deal,” and “down with Harry Truman’s fair Deal.” That’s all he means.

    During commie Eisenhower’s reign of terror from 1953 and 1960, the wealthy paid a top tax rate of 91 percent on incomes over the equivalent of $1.7 million for an individual and $3.4 million for a couple!

    Before he was done turning America red, Eisenhower also pushed through subsidized mortgages that helping Americans purchase their first home and attend college for free. He presided over the construction of public housing and state-owned infrastructure, i.e., interstate highways.

    A few years later the USSR secret agent LBJ got Medicare passed but with Republican support in the House and Senate.

    • drowningpuppies says:

      Hate to bust your oh so convincing (laughable) cut&paste but hardly anyone paid a 91% effective tax rate.
      Hint: Ask the Kennedys.

      You’re not very smart, Rimjob. https://www.thepiratescove.us/wp-content/plugins/wp-monalisa/icons/wpml_wacko.gif

      #Busted again
      Lolgf https://www.thepiratescove.us/wp-content/plugins/wp-monalisa/icons/wpml_cool.gif

    • Jl says:

      And during commie Eisenhower’s reign the richest 1% paid less of the total income income tax at 91% than they do now at 37%, but thanks for bringing that up.

  5. drowningpuppies says:

    Since the intelligence level of your average Liberal (or below average like Rimjob) only allows communication by picture…

    http://www.thedailygouge.com/wp-content/uploads/2021/02/environazis.png

    Doubt it will help though.

    #BelieveTheLie
    Lolgf https://www.thepiratescove.us/wp-content/plugins/wp-monalisa/icons/wpml_cool.gif

  6. Hairy says:

    Teach do you remember how you used to complain about them.taking away ykur old fashioned incandescent light bulbs ? You who supposedly are an IT always seem to fail to see the continuing upside of progress in technology
    Look at the tremendous improvements in electric vehicles EVERY year

    • Jl says:

      Because John, there’s a difference between taking away incandescent light bulbs completely vs. letting you decide for yourself which kind of bulb you want to use. You know-freedom of choice. But speaking of the “upside of technology”-how upside is it really if someone has to force you to use it? When the first lightbulbs appeared, did anyone have to force people to use them instead of whale oil or candles or whatever they were using?

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