ASB Economists refuse to price in the impact of El Nino this year but shouldn’t we?

‘Super’ El Niño could cause global food price shock lasting into 2028, analysts say

Weather cycle threatens harvests worldwide, adding to inflation already fuelled by the Iran war

The ASB’s Economists last week argued the Iran war had been settled and that economic growth was back on track, but no where in their analysis did they factor in the coming El Niño. The last 3 El Niño events have cost us $12billion dollars, apparently the worst one in 150 years won’t cost us anything?

Why is the economic impact of climate change being ignored in the run up to the election, especially as the Government have been caught out pimping for the Big Polluters by killing off Mike Smith’s legal case against them.

Global Economists are now warning that a “super” El Niño weather cycle this year could cause a severe shock to global food prices lasting into 2028. According to analysts at Goldman Sachs, the strength of this El Niño could cause a 15.8% surge in global food commodity prices.

Goldman Sachs analysts wrote, “El Niño has already begun to affect crops, driving a drier monsoon season in India, with some regions only experiencing 25% of their usual rainfall, and parts of central India only receiving 50%, which could affect supply for wheat, rice, and sugar cane.

Can we afford to remain in denial?

The hilarity is that the looming El Niño will scar and burn farmers, the very people who are contributing to the climate change.

What’s the bet they demand the rest of us pay for the climate damage about to hit them?

Our climate denial is about to be burnt, flooded and drowned out of us.

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