Way ahead of you: I'm already poor.

All my neighbors laughed at me for getting solar. They said “my power bill is $40” They all cried in the Summer when they paid $200 and I paid the same monthly payment on my panels.

The leaky roof analogy is a deeply insightful reflection of human nature and further goes to prove that we will collectively do nothing to prevent the disaster. 🥰🥰🥰🥰🥰

I get it, invest in safe heaven assets because the profit level usually drops in these times. Can't help but stay invested with hopes high. I recently saw an article about people that are still able to pull up heavy profits up to $500k within amidst the recession, and I'd like to know such strategies, that's all.

The real injustice is that while those of us in the developed world are complaining about prices going up, subsistence farmers and fishermen across the world (who work harder just to get by than most Americans have ever worked in their lives) will be unable to make a living due to droughts, desertification, coral reef destruction, etc. They stand the most to lose, yet they have the least capacity to do anything without help. Meanwhile, many Americans (who consume far more resources on a per capita basis) persistent in thinking that climate change isn't their problem, IF they accept it at all, despite the fact WE are disproportionately responsible for the problem AND are the ones who have the capacity to do something about it.

Stop waiting for technology to save you. Spoiler: it won't. We already have all the knowledge we need to thrive on this planet. For starters homes can be designed with passive solar heating and cooling which would cut your utility bill significantly for the entire life of the house.

My spouse and I are adding a variety of stocks/ETF to my present holdings for the long term, We've set aside $250k to start following inflation-indexed bonds and stocks of companies with solid cash flows, I believe it is a good time to capitalize on the market for long-term gains, but it wouldn't hurt to know means of actualizing short term

So happy to see a personal finance channel on YT broaching how climate change will impact our financial futures. As a (coastal) Floridian, I'm especially attuned to the increasing costs of homeowner's insurance. I keep wondering when only wealthy people and those willing to self-insure (who are often one in the same) will be able to afford to live here. That said, I do think rising homeowner's insurance rates will become more and more of an issue for people in most places. And I wonder about the viability of the (homeowner's) insurance industry in general long term. I've come to think in terms of building climate resilient wealth, which to me means thinking about wealth as far more than money. I'm emphasizing things like social capital, skills, maintaining good physical and mental health, and growing useful and edible trees/plants in my yard. Money does play a role in my journey - I'm investing in regenerative agriculture and locally owned businesses for example - but given how speculative and volatile our financial system is I prefer to cultivate this more holistic view of wealth. Plus, there's a great deal of connection, joy, and satisfaction to be gained dabbling in those non-monetary forms of capital.

What if... Climate change is happening beyond just the US? What if there are people and scientists completely independent of US politics that understand this to be true?

Some of us are already poor , it will be good to have company

Energy production prices are/will go up primarily due to environmental actions stopping the production of new wells and new plants. Price of food is primarily due to the same limit of production. Everything is made or transported by diesel and diesel is up someplaces passed 8 dollars a gallon.

Another great video. I can’t imagine the amount of work that goes into the research, graphics, script writing, and performing of your amazing videos. The result is an engaging educational piece we all can learn from. Thank you @Two Cents!

This video are my anxieties for when I’ll have to move out and live on my own. And I hella do NOT envy the next generation that will need to deal with even worse shit.

I live in Queensland, Australia. Here, the state government, via a federal funding scheme, offers home owners a subsidy to install solar power. A similar scheme 10 years ago offered homeowners subsidies to install insulation. I was a home owner at the time and took full advantage of it. I no longer own a home. I live in public housing. I receive serious subsidies and discounts on my home electricity as well as free access to carbon-neutral electricity. We also have clotheslines in our homes, even apartments.

Brace yourselves! Comments coming!

Are all of these percentage increases weighed with or without inflation already factored in?

1:17 - Exactly. I live in Seattle, and many houses here don't have A/C. Which has been a pretty big problem in the past couple years when we've had historic heat waves hit us.

What america ought to do is update its regulations around nuclear power and build as many plants as it takes to replace what we’re currently getting from burning coal. Once this is completed we can electrify everything including vehicles, home heating, and industry. We will also need to make some agricultural reforms as well. But even this won’t get us to net zero.

Canadian writing this while there's a freaking RAIN and wind storm outside! I was born in 79, sure never happened back then. Started mid 90s and has gotten worse since. Thanks for covering this! SO important! Not doing anything against climate change costs a lot more than action. In Quebec the first major event was the 98 Ice Storm (I'm still traumatized lol). Maple syrup has struggled for years with a thawing season that's too short or abrupt. This year Xmas trees are more expensive than ever due to crop failure (someone I know who owns a farm lost a whole field of Xmas tree due to fungi because it kept raining this summer). Even in place where weather might cool more, we still get swing events that mess up every industry no matter where you live. Of course the poor will suffer more :(

Jokes on them. I am already poor

I feel like a fourth category should've been housing, for a variety of reasons. Wish this would've been included, or just mentioned.

Inflation due to Covid and Ukraine huh? Nothing to do with the decade and a half of inflationary monetary policy?

This further confirmed my suspicion that the safest financial planning you could do is to extend your time horizon. too many known unfavorable factors and more unknowns coming our way… 😢

Why is there no mention of Thorium-based nuclear power plants?

Libertarians have always said to not subsidize high-risk flood areas as for demand to adjust on the flood risks. But hey, I guess blame it on rich people again

Make the most you can. Save what you can. Enjoy life the most you can. Don’t make the world worse. You’ll be alright

Alright, let's wait to do something about this after it's too late. 'Murica.

This is why I went solar, if you have any doubts about it research net metering program! They PAY for all installation and it cuts your annual bill and some companies give you a credit or cash for producing more into the grid. If you have any concerns talk to 3 or more companies in your area and look for consistencies and volume to see if they are reputable. You will be connected to the grid no matter what you may as well avoid all uncertainty.

Quit building these giga homes with energy inefficient open floor lay outs. I bought a 1950s house plan an had my design engineer that works for me bring it up to code and had it built. My 1100sq ft ranch with building technology from thr 1800s like closable heat vents for the summer that go to the attic and second exterior walls with 1.5ft air gaps. Combined together, my heating cost for last years winter was only 1268.76$. People have forgotten old school building techniques that are passive and don't consume energy to work.

Guess it is about time for each house hold to make their own energy, water, food and waste management.. but to be fair, the technology for each individual house to generate their own supplies is already here.. just not 100% yet..

lol the burn at the end is so good :D.

Here in Argentina,climate is also getting droughter

in the real world places that have made the biggest change to renewables have the highest electricity prices

An 11.4% increase in homeowners insurance since 2017 (5 years ago) is very reasonable. That is 2.28% a year, non-compounded. I wish general inflation was only that high

Being concerned about insurance rates due to climate change is some real XKCD What-If "the batter would be considered 'hit by pitch', and would be eligible to advance to first base" level thinking.

ThNk youuuuu!!!!

That dramatic music! 🎵 🎶

Cheers from Cleveland ;)

love ur videos and always helpful

I would say that it’s better for the government to subsidize nuclear power because nuclear is much more efficient than solar and wind.

Genuine question for the deniers: How is energy diversification a bad thing? Everyone knows 100% intermittent power won't work, but what's wrong with 10%? How about 20%? Especially in areas with lots of wind or sun, are you opposed to diversification? If so, why?

Based on the title: Good thing I'll be rich forever then ;)

I'm scared to see what the comments bring

Let’s get some economic donations so that my man can get more prison tattoos

Great video! Thank you!

00:01 That guy looks very similar to Ryan Gosling

You guys used to look so professional now you look like partners at starbucks that call their cat their child

I’ve got Solar in CT, bill for electric still $400 a month (doubled from last year)…. So you tell me is climate change or Centralization of utility companies without competition more dangerous?

Solar panels are a joke, it's still reliant on electric companies saying.

1:36 If you take inflation into account it seems like electricity has stayed the same price in those years?

What is the price of 1kWh electricity in the US? We currently pay ~60 cents/kWh including tax for a normal house. I'm running my washing-mashine, dishwasher and tumble dryer during night time. What is your annual power consumption?

I am so worried about what climate change will do to the economy. It feels like I'm wasting my money saving for retirement or even just wealth. I think that all these problems (especially more catastrophic weather events) will cause insurance companies to both raise rates and reduce what they invest in the stock market, and that the stock market and money in general will just be worthless. I'm not worried about me...if I die from starvation due to climate change, or from a weather catastrophe, or from violence due to climate change, I can handle that. What I'm worried about is my kids, and I almost feel like I shouldn't have brought them into the world. I hate the idea of someday telling my kids that they're suffering because my generation refused to make the sacrifices.

Great... now I'm having a doomer moment.

Can you make a part2 on this subject especially in regards to developing countries? Thanks

No mention on wreckless spending influence on inflation

Good content! Thank you for showing this.

Yes, California is making gas expensive, natural gas, etc. Very expensive.

Dude the longer hair minus mustache and a sleeve. Wow what a change from a number of years ago. Looking good my guy.

My electric bill doubled with an energy surcharge.

Thanks for the cortisol boost guys, really needed this 👍

This makes me think: actors/celebrities in Hollywood (not y'all) are always talking about the climate change and promoting "green energy". I'm just wondering how much electricity & energy is used for the production of movies and tv shows in some of the hottest, driest areas of the country (Los Angeles)? Actions speak louder than words.

I'm preparing for a warmer world. Between 800ad - 1200ad records show the world was hotter than it is now, so hot that currently uninhabited areas of Greenland were habitable, consisting of Forrest farmable land & now extinct biodiversity . If the world is getting warmer then looking at actual empirical evidence from history, instead of climate models will provide a more accurate impression of a warmer world, barring in mind that the world was warmer in the year 1000 then climate models predict it 2 b in the future. I'm investing in cheap land in Greenland, land that will increase in value if these climate change actually happens. Also some or most of the world's deserts probably ( I might b wrong ) experienced more rainfall then they currently do & might have been covered in Forrest.

Funny how people still believe their actions could affect the climate.

Can you make video on housing market🙏

This year, solar reached lower prices than fossil fuels. Replacing old plants with newer fossil fuel plants won't make economic sense. Solar, wind, and batteries will win at the end.

I live in Michigan. Being far away from the coast, relatively north, and close to vast quantities of fresh water makes this State as well fortified from climate change as it’s possible to be. But no one will emerge unscathed

Day 132 of asking Philip to grow his legendary mustache again 💖💖

Show me what areas are threatened by climate change.

I do wonder what Thunderfoot have to say about this...

How can someone living in apartment complexes have solar power panels??

Those already poor and in poverty...and especially third world poverty don't have as much choice.

Love it

... to your last comment, now you can't even move to another house once yours is destroyed. First, the insurance loss, with subsequent battle to settle that loss. Then, with housing being so expensive, and access almost restricted due to costs, where can one now go? Still, and informative video, with my thanks!

I miss the 'stache.

Inflation is already doing a better job of that than global warming ever could.

The fact that wall street, the banks, lobbyist and politicians got involved. The climate is changing. It's always changing does man contribute sure how much is up for debate.

How drinking water will make you poor! (next idea)

Overthrow the Bourgeoisie

Love your channel, thanks for the info ❤️

You guys have great thumbnails 👍

Nuclear power would solve alot

I think you mean “How climate change policy will make you poor”

I don't think America will have to worry so long it can continue selling its land fills to Kenya and other poor countries. I pity on Americans sold a dream which only is possible on bio waste

Love this. Thank you

What? That's not the tragedy of the commons!

Hey man! Where are your mustache?

Can we pls bring back the ‘stache? 🤣😂

CO2 capture is the best answer right now for climate change

Im surprised you missed to mention nuclear as another tool we must udr to fight climate change. It's cleaner and cheaper and forget ideology it will be needed solar and wind won't be enough.

Protect plahnit aarf!

Climate change has been around long before mankind. While man may have increased the rate, the solutions that the environmental zealots are pushing will do more damage than good as it will create more environmental hazards while significantly weakening the economy. While it is a good idea to refuse vehicle dependence, eliminating fossil fuel vehicles will cause more problems while doing very little environmentally.

We could always fight high energy costs by building nuclear power plants. They are safe, efficient and cheaper too.

invest in arctic land now.

Just abolish technology

🤦‍♂️

Welcome to the grand solar minimum.

uuuuuuuhhhhh... what?

Or we could just seize wealthy peoples' assets and nationalize these industries

I'm more scared of climate change policy then the actual thing 🤣

I find it curious that this video talks about how the current problem with inflation is primarily caused by COVID as well as the war in Ukraine and even climate change, but says absolutely nothing about how much it has to do with corporate greed and large corporations price gouging essential goods and services and somehow inexplicably getting away with it even though that's supposed to be illegal. Large corporations in almost every sector of essential goods and services are posting record profits while the common person is struggling to make ends meet. I remember a year or two ago seeing some kind of conference or presentation with an executive of a large oil and gas company standing up behind a podium in front of an audience of hundreds blatantly coming out and admitting that they have the power to lower their gas prices RIGHT NOW, but they WON'T, because they have a fiduciary duty to their shareholders to put profit above all else. THAT is what the biggest issue is, and what everyone should be focusing on, because if we all band together and make them be held accountable one way or another, we can bring some relief to this rampant inflation IMMEDIATELY. But that's not likely to happen because no one who is running for office is representing the interests of the common people. You have the establishment Democratic party who are in the pockets of large corporations and do not want to do anything to upset them because that will cut into their campaign contributions and hurt their chances of being re-elected, and then you got the Republican party who are nothing but a bunch of crazy christofascists whose entire response to anything in the economic sector is to cut taxes on large corporations and the rich, deregulate environmental protections, and strip away workers' rights. The common person is stuck between a rock and a hard place with choices like these.