The great neoliberal compromise was, “We’ll make some of you rich, fuck the rest, and the bill will come due after you’re dead.” Tax rates were scrapped and policies deliberately inflated the prices of both real estate and stocks. If you already were well off, i.e., owned a house and some stocks, you did really well.
If you were old enough, well, you died before the bill came due for the lower end of this, in 2008. Those who weren’t liquid, were over-extended, or were living in unimportant cities or suburbs, got smashed. Those who hung on, and lived in or near cities like San Francisco, survived as home prices went back up and as stock prices were deliberately driven to even greater levels.
And now we have more wildfires in California. We have massive power outages, even in some very upscale areas. In the Pacific Northwest, we have fires that rage for so long that cities are filled with smoke for weeks on end.
We have more and more powerful hurricanes, and they’re hitting Category 6, which was said to be impossible.
We have the vast melting of glaciers and ice and the drying up of groundwater.
We have utilities like California’s PG&E which did their job: They gave out tons of money to make people rich and didn’t update their infrastructure, which is causing a lot of those California fires.
And, yeah, the really rich have off-grid power. But they don’t have immunity from fire, and almost none of them can survive when the water runs out.
Then there’s, oh, New Zealand, where the rich have bought houses and condos. But if things really go to hell and they go to New Zealand, what power will they really have in that level of civilization collapse? Their money won’t mean shit, and the New Zealanders, who are coming to hate them already, are unlikely to be kind.
The level of climate change and ecological collapse we’re going to hit is such that I think most of the wealthy, and probably a heck of a lot of the truly rich, are not going to avoid it.
There isn’t going to be an escape for most of them.
A silver lining.
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