Sheldon Whitehouse: “The Economist magazine has warned of a $25 trillion hit [to]…”

“It's been warned of in the United States now by the Federal Reserve, by Aon Insurance, by the Freddie Mac, the chief economist. The Economist magazine has warned of a $25 trillion hit [to] the global real estate markets because climate risk makes insurance unmanageable. which makes mortgages unavailable, which makes property values fall, which leads to 2008 style recession. That's the cascade.” (02:34–02:46)

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