[MCN] Consumption is key to US economy, and is also key to risks associated with climate change

[Lance Olsen]

Spend spend spend: Consumer borrowing continues to climb <https://www.mpamag.com/news/spend-spend-spend-consumer-borrowing-continues-to-climb-172367.aspx>
https://www.mpamag.com/news/spend-spend-spend-consumer-borrowing-continues-to-climb-172367.aspx <https://www.mpamag.com/news/spend-spend-spend-consumer-borrowing-continues-to-climb-172367.aspx>
Jul 11, 2019 ... The latest consumer credit report from the Fed shows an increase in consumer credit, led mostly by revolving debt and supported by a rosy ...
US consumers step up borrowing at healthy pace in May - The ... <https://www.washingtonpost.com/business/us-consumers-step-up-borrowing-at-healthy-pace-in-may/2019/07/08/e35a9dd8-a1b4-11e9-a767-d7ab84aef3e9_story.html>
https://www.washingtonpost.com/business/us-consumers-step-up-borrowing-at-healthy-pace-in-may/2019/07/08/e35a9dd8-a1b4-11e9-a767-d7ab84aef3e9_story.html <https://www.washingtonpost.com/business/us-consumers-step-up-borrowing-at-healthy-pace-in-may/2019/07/08/e35a9dd8-a1b4-11e9-a767-d7ab84aef3e9_story.html>
WASHINGTON — U.S. consumers borrowed more on their credit cards in May and also took out more student and auto loans
consumer borrowing – eCreditDaily <https://www.ecreditdaily.com/tag/consumer-borrowing/>
https://www.ecreditdaily.com/tag/consumer-borrowing/ <https://www.ecreditdaily.com/tag/consumer-borrowing/>
Personal loans are the “fastest-growing type of consumer debt” in the past ... Consumer borrowing has picked up again, now reaching a pace not seen in six ...
US consumers step up borrowing at healthy pace in May - ABC News <https://abcnews.go.com/Business/wireStory/us-consumers-step-borrowing-healthy-pace-64200601>
https://abcnews.go.com/Business/wireStory/us-consumers-step-borrowing-healthy-pace-64200601 <https://abcnews.go.com/Business/wireStory/us-consumers-step-borrowing-healthy-pace-64200601>
Jul 8, 2019 ... U.S. consumers borrowed more on their credit cards in May and also took out more student and auto loans
U.S. consumer debt is now above levels hit during the 2008 financial ... <https://www.marketwatch.com/story/us-consumer-debt-is-now-breaching-levels-last-reached-during-the-2008-financial-crisis-2019-06-19>
https://www.marketwatch.com/story/us-consumer-debt-is-now-breaching-levels-last-reached-during-the-2008-financial-crisis-2019-06-19 <https://www.marketwatch.com/story/us-consumer-debt-is-now-breaching-levels-last-reached-during-the-2008-financial-crisis-2019-06-19>
Jun 25, 2019 ... Consumer debt has hit $14 trillion, a level some might find worrisome.
Consumer debt - Wikipedia <https://en.wikipedia.org/wiki/Consumer_debt>
https://en.wikipedia.org/wiki/Consumer_debt <https://en.wikipedia.org/wiki/Consumer_debt>
In economics, consumer debt is the amount owed by consumers It includes debts incurred on purchase of goods that are consumable and/or do not appreciate.
The U.S. Consumer Debt Crisis - Debt.org <https://www.debt.org/faqs/americans-in-debt/>
https://www.debt.org/faqs/americans-in-debt/ <https://www.debt.org/faqs/americans-in-debt/>
Consumer debt in the U.S. has reached nearly $14 trillion dollars. Learn about the facts behind the debt crisis & how states in the U.S. compare to each other.
Consumer debt is at an all-time high. Should banks be worried ... <https://www.americanbanker.com/news/consumer-debt-is-at-an-all-time-high-should-banks-be-worried>
https://www.americanbanker.com/news/consumer-debt-is-at-an-all-time-high-should-banks-be-worried <https://www.americanbanker.com/news/consumer-debt-is-at-an-all-time-high-should-banks-be-worried>
Jul 30, 2018 ... As memories of the financial crisis fade, consumers are back to their old spending and saving habits — and that could be a big problem.
'The clock is ticking' on consumer debt, Deutsche Bank warns <https://finance.yahoo.com/news/consumer-debt-risk-rising-180851322.html>
https://finance.yahoo.com/news/consumer-debt-risk-rising-180851322.html <https://finance.yahoo.com/news/consumer-debt-risk-rising-180851322.html>
Mar 6, 2019 ... As U.S. consumers rack up a record amount in credit — a recent Federal Reserve report showed outstanding consumer debt topped a record ...

*********  Greta Thunberg wasn’t the first to talk of panic and climate *********

"… the race between climate dynamics and  climate policy will be a close one …."

Excerpted from:

Hans Joachim Schellenhuber. 
“Global warming: Stop worrying and start panicking?” 
Proceedings of the National Academy of Sciences 2008
[ open access ] https://www.pnas.org/content/105/38/14239 <https://www.pnas.org/content/105/38/14239>

********************************

“The climate scientist James Hansen has called two-degree warming “a prescription for long-term disaster.”

Robert Watson, a former director of the United Nations Intergovernmental Panel on Climate Change, has argued that three-degree warming is the realistic minimum. 

The prospect of a five-degree warming has prompted some of the world’s leading climate scientists to warn of the end of human civilization.”

<<https://www.nytimes.com/interactive/2018/08/01/magazine/climate-change-losing-earth.html <https://www.nytimes.com/interactive/2018/08/01/magazine/climate-change-losing-earth.html>>>

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