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Posted Sun Dec 11 2011: from Guardian:
Climate deal: A guarantee our children will be worse off than us
The loans in euros, dollars and pounds will be called in within days, weeks, and months. But the environmental debt - run up by many decades of dumping carbon dioxide waste in the atmosphere - won't be due for full repayment before 2020, according to the plan from Durban. If this roadmap to agree a global deal to tackle climate change by 2015, which would take force by 2020, is a triumph, it is a pitiful one. It aspires to achieve in four year's time what was deemed essential by the world's governments in 2007, but crashed at the Copenhagen summit in 2009. That eight-year failure is why the ecological debt will inevitably transform into a new economic debt dwarfing our current woes. Like a loan-shark's debt, the cost of halting global warming - and coping with the impacts already certain - spirals higher and higher the longer you leave repayment. At the moment, as record rises in carbon emissions show, we are paying back nothing.
[Read more stories about: climate impacts, short-term thinking, stupid humans]

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'Doc Michael says:
Are you kidding? We'll just collateralize the debt and sell futures on it. It's worked so far.

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