Extreme weather disasters could trigger the next recession

Feb 18, 2020

OPINION (ETH) – In case you haven’t noticed lately, we are witnessing unprecedented weather disasters around the world including the United States. Tornadoes, Historic flooding, Earthquakes, Fires, and the list goes on. When these disasters take place our first initial response is the safety of people and their well being. after all, material things can be replaced but lives cannot. Most people don’t really think about the economic strain that these mounting disasters have upon Countries that are impacted. The total costs of Hurricane Katrina alone amounted to 161 billion U.S. dollars, which makes it the most expensive natural disaster to occur in the U.S. as of January 2019. Hurricane Harvey and Hurricane Maria followed behind at 125 billion U.S. dollars.

We are seeing others who also understand this, coming out to give warnings of what could happen as a result of these continual disasters. “If the market doesn’t do a better job of accounting for climate, we could have a recession—the likes of which we’ve never seen before,” according to Paul Griffin, an accounting professor at the UC Davis Graduate School of Management. A recent report from PHYS.ORG is echoing the warning by saying:

“Excessive-high temperatures, like those experienced in the United States and Europe last summer, can be deadly. Not only do they disrupt agriculture, harm human health and stunt economic growth, they also can overwhelm and shut down vast parts of energy delivery, as they did in Northern California when PG&E shut down a delivery during fires and weather that could trigger a fire. Extreme weather can also threaten other services such as water delivery and transportation, which in turn affects businesses, families and entire cities and regions, sometimes permanently. All of these strains local and broader economies.

When reading the Book of James chapter five it appears that there is a cryptic warning that before the coming of the Lord there will be a major economic collapse that will take place in the earth such as we witnessed during the time of the “Great Depression” but possibly on a larger scale. This next event will directly impact the wealthy of the World:

“Come now, you rich, weep and howl for your miseries that are coming upon you! Your riches are corrupted, and your garments are moth-eaten. Your gold and silver are corroded, and their corrosion will be a witness against you and will eat your flesh like fire. You have heaped up treasure in the last days. Indeed the wages of the laborers who mowed your fields, which you kept back by fraud, cry out; and the cries of the reapers have reached the ears of the Lord of Sabaoth. You have lived on the earth in pleasure and luxury; you have fattened your hearts as in a day of slaughter. You have condemned, you have murdered the just; he does not resist you.” – James 5:1-6

We could speculate on how and what could cause such an event that we see mentioned in the Book of James in the future but one thing is for sure if experts are correct on their assessments and projections of these disasters only increasing in the future than we are headed for turbulent times ahead! No wonder the author of the Book of James followed his warning about an economic collapse by saying this:

“7 Therefore be patient, brethren, until the coming of the Lord. See how the farmer waits for the precious fruit of the earth, waiting patiently for it until it receives the early and latter rain. You also be patient. Establish your hearts, for the coming of the Lord is at hand.” – James 5:7-8 (Click to Source)

 

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