<html><head><meta http-equiv="Content-Type" content="text/html; charset=utf-8"></head><body style="word-wrap: break-word; -webkit-nbsp-mode: space; line-break: after-white-space;" class=""><div style="margin: 0px; font-stretch: normal; line-height: normal; font-family: Helvetica;" class="">MarketWatch <span style="font-kerning: none" class="">Published: Nov 2, 2019 10:41 a.m. ET</span></div><div style="margin: 0px; font-stretch: normal; line-height: normal; font-family: Helvetica; min-height: 17px;" class=""><br class=""></div><div style="margin: 0px; font-stretch: normal; line-height: normal; font-family: Helvetica; color: rgb(53, 56, 61); -webkit-text-stroke-width: initial; -webkit-text-stroke-color: rgb(53, 56, 61);" class=""><span style="font-kerning: none" class=""><b class="">Climate change will break the housing market, says David Burt, who predicted the 2008 financial crisis</b></span></div><div style="margin: 0px; font-stretch: normal; line-height: normal; font-family: Helvetica; color: rgb(98, 107, 120); -webkit-text-stroke-width: initial; -webkit-text-stroke-color: rgb(98, 107, 120);" class=""><span style="font-kerning: none" class=""><b class="">Burt’s Cornwall Capital was player in the book ‘The Big Short’</b></span></div><div style="margin: 0px; font-stretch: normal; line-height: normal; font-family: Helvetica; color: rgb(98, 107, 120); -webkit-text-stroke-width: initial; -webkit-text-stroke-color: rgb(98, 107, 120);" class=""><span style="font-kerning: none" class=""><b class=""><br class=""></b></span></div><div style="margin: 0px; font-stretch: normal; line-height: normal; font-family: Times; color: rgb(0, 0, 238); -webkit-text-stroke-width: initial; -webkit-text-stroke-color: rgb(0, 0, 238);" class=""><span style="text-decoration: underline ; font-kerning: none" class=""><a href="https://www.marketwatch.com/story/climate-change-will-break-the-housing-market-says-david-burt-who-predicted-the-2008-financial-crisis-2019-11-01?" class="">https://www.marketwatch.com/story/climate-change-will-break-the-housing-market-says-david-burt-who-predicted-the-2008-financial-crisis-2019-11-01?</a></span></div><div style="margin: 0px; font-stretch: normal; line-height: normal; font-family: Times; color: rgb(0, 0, 238); -webkit-text-stroke-width: initial; -webkit-text-stroke-color: rgb(0, 0, 238);" class=""><br class=""></div><div style="margin: 0px; font-stretch: normal; line-height: normal; font-family: Times; color: rgb(0, 0, 238); -webkit-text-stroke-width: initial; -webkit-text-stroke-color: rgb(0, 0, 238);" class=""><br class=""></div><div class="">
<div style="caret-color: rgb(0, 0, 0); color: rgb(0, 0, 0); font-family: Verdana; font-size: 14px; font-style: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; text-decoration: none; word-wrap: break-word; -webkit-nbsp-mode: space; line-break: after-white-space;" class=""><div style="color: rgb(0, 0, 0); letter-spacing: normal; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; word-spacing: 0px; -webkit-text-stroke-width: 0px; word-wrap: break-word; -webkit-nbsp-mode: space; line-break: after-white-space;" class=""><div>------------------------------------------------------------------------<br class="">“We have only one planet and the time has come to transform our present lifestyle and consumption patterns...”<br class=""><br class="">From the Executive Summary, WWF: China Ecological Footprint: Report 2012 : Consumption, production, and sustainability.</div><div>———————————————————————————————————</div><div>"People should want more, make more, earn more, spend more -- ever more."</div><br class="">Donella Meadows. Just So Much And No More. Yes magazine June 30, 2001<br class=""><a href="http://www.yesmagazine.org/issues/reclaiming-the-commons/437" class="">http://www.yesmagazine.org/issues/reclaiming-the-commons/437</a></div><div style="color: rgb(0, 0, 0); letter-spacing: normal; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; word-spacing: 0px; -webkit-text-stroke-width: 0px; word-wrap: break-word; -webkit-nbsp-mode: space; line-break: after-white-space;" class="">-------------------------------------------------------<br class="">“Conservationists are unquestionably useful people. And among the many useful services that they have rendered has been that of dramatizing the vast appetite the United States has developed for materials of all kinds.”<br class=""><br class="">“But what of the appetite itself? Surely this is the ultimate source of the problem. If it continues its geometric course, will it not one day have to be restrained? Yet in the literature of the resource problem this is the forbidden question. Over it hangs a nearly total silence.”<br class=""><br class="">John K. Galbraith. “How much should a country consume?”<br class="">In Jarrett, Henry (editor), Perspectives on Conservation. John Hopkins Press. 1958</div><div style="color: rgb(0, 0, 0); letter-spacing: normal; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; word-spacing: 0px; -webkit-text-stroke-width: 0px; word-wrap: break-word; -webkit-nbsp-mode: space; line-break: after-white-space;" class="">--------------------------------------------------------------------------------------<br class=""><br class=""></div></div><span style="caret-color: rgb(0, 0, 0); color: rgb(0, 0, 0); font-family: Verdana; font-size: 14px; font-style: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; text-decoration: none;"><br class="Apple-interchange-newline"><span><img apple-inline="yes" id="509F7127-2FCD-4689-86C4-013C3EFE27D9" src="cid:47EAF37B-1FD4-40E1-AE1D-0562CA9D08D0@PK5001Z" class=""></span><div style="caret-color: rgb(0, 0, 0); color: rgb(0, 0, 0); font-family: Verdana; font-size: 14px; font-style: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; text-decoration: none; word-wrap: break-word; -webkit-nbsp-mode: space; line-break: after-white-space;" class=""><div style="color: rgb(0, 0, 0); letter-spacing: normal; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; word-spacing: 0px; -webkit-text-stroke-width: 0px; word-wrap: break-word; -webkit-nbsp-mode: space; line-break: after-white-space;" class=""><br class="Apple-interchange-newline"><br class=""><br class=""><a href="https://www.oxfam.org/sites/www.oxfam.org/files/file_attachments/mb-extreme-carbon-inequality-021215-en.pdf" class="">https://www.oxfam.org/sites/www.oxfam.org/files/file_attachments/mb-extreme-carbon-inequality-021215-en.pdf</a><br class=""><br class=""><br class=""><div></div><div class=""><br class=""></div></div><br class="Apple-interchange-newline"></div><br class="Apple-interchange-newline" style="caret-color: rgb(0, 0, 0); color: rgb(0, 0, 0); font-family: Verdana; font-size: 14px; font-style: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; text-decoration: none;"><br class="Apple-interchange-newline" style="caret-color: rgb(0, 0, 0); color: rgb(0, 0, 0); font-family: Verdana; font-size: 14px; font-style: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-size-adjust: auto; -webkit-text-stroke-width: 0px; text-decoration: none;">
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