On today's BradCast: While many continue to insist the American economy is on a very strong footing, a few others are quietly warning that our climate emergency could break not only the U.S. bank, but the entire world economy --- again --- with a climate-fueled collapse that could make the 2008 Great Recession look like a picnic in comparison. At the same time, there's a whole bunch of Republican deniers in Congress who are getting out while they still can. [Audio link to show is posted below.]
First up, despite claims that impeachment will be a "disaster" for Democrats, it appears to be GOPers who are jumping ship in advance of 2020. This week, three more House Republicans have announced they will not be running next year, with one, just before air, announcing his resignation at year's end after pleading guilty to a federal fraud charge.
As of this week, a total of 19 Republicans elected in 2018 will not be running again in 2020, with potentially more such announcements coming before the year is over, and one sitting GOP Congressman now potentially facing felony charges for voter fraud --- in Kris Kobach's Kansas!
Then, we're joined today by financial journalist, author and now The American Prospect's Executive Editor DAVID DAYEN, to discuss the politics, policy and possibilities of Green New Deal legislation. The magazine has just published a landmark special edition in which they devote all of their coverage (along with their website) to the issue from virtually every angle, as covered by more than 22 reporters, experts and climate leaders. Dayen, who took over the reins at the feisty, progressive non-profit just six months ago, explains why he was moved to devote their latest entire issue to this one matter. He notes the unprecedented breadth of their coverage has actually made him more hopeful, not less, about our ability to achieve the radical change called for by the GND, and the greener --- and safer, and more livable --- future it could bring.
While "the Green New Deal, as a slogan, has gotten us further than practically any climate initiative has in the previous several years," he tells me, "we thought there was a gap in translating it into policy, and showing that it's not only urgent, but it's practical, and it's feasible, and it not only can be done, it must be done." He adds: "We're talking about our planet. We don't have a choice but to make this work....We have the technology on hand today to move to a carbon-free economy. That carbon-free economy will not sink global GDP growth but actually enhance it. And it can equalize our economy. It can create jobs, especially those in places that were hardest hit by the toxicity of the environment to this point."
All of that unlikely optimism aside, Dayen's own recent coverage at The Prospect on the failure of U.S. financial regulators to seriously examine the extraordinary disruption to virtually all sectors of the economy of either a looming climate catastrophe or the costs of mitigating it, should be a wake up call for many. His report cites a new issue brief published by the center-left Center for American Progress warning that the U.S., led by both the fossil fuel industry and a financial sector heavily invested in it, is currently either ignoring the possibility of a potential climate-fueled financial meltdown or actively working to cover up the realities of what could be a damned-if-we-do, damned-if-we-don't reality of either living with or transforming from our current fossil fuel-based economy. As Dayen --- the author of an award-winning 2016 book about the 2008 global financial meltdown --- warns, "our financial system seems to be whistling past a climate graveyard."
We may, in fact, be heading toward "widespread suffering and potential catastrophe. And these risks could manifest at any time." He explains what regulators in the U.S. must do --- and hopefully will do, if Democrats regain a governing majority next year --- to appropriately respond to the many fiscal red flags that so many now warn are merited, with the serious, sober consideration they deserve.
"I hope that it won't take a financial catastrophe to get us to the point where we need to do this," he says. But the cautionary note serves to underscore the importance of the topics tackled by The American Prospect's new and important special edition...
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