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The Cost of Climate Change, Censorship, and a Cashless Society

A new report highlights the economic impacts of climate change on future generations, while challenges in sustainable energy, digital banking, censorship, and space weather underscore the intricate relationship between technology, environment, and society.

user profile picture Ivor May 12, 2024
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In a world increasingly shaped by human activity, a new report by Consumer Reports and ICF warns of the steep economic toll climate change could exact on the next generation. According to the study, a child born in 2024 could face up to $1 million in additional costs over their lifetime due to climate-induced price hikes in essentials like housing, energy, and food, alongside reduced earnings. However, the report also offers a glimmer of hope, suggesting that swift action to curb carbon emissions could significantly mitigate these financial burdens. This underscores the urgent need for global cooperation in addressing climate change, not just for the environment’s sake but for the economic well-being of future generations.

Meanwhile, the quest for sustainable energy solutions faces its own set of challenges, as illustrated by the recent damage to the world’s largest floating solar farm in Madhya Pradesh, India. A summer storm wreaked havoc on the nearly completed project, scattering solar panels and highlighting the vulnerability of such installations to extreme weather. This incident raises questions about the feasibility of floating solar arrays, especially in regions prone to harsh weather conditions, and underscores the importance of designing resilient renewable energy systems that can withstand the impacts of climate change.

In the financial sector, Macquarie Bank’s announcement to phase out cash and cheque services by November 2024 marks a significant shift towards a cashless society in Australia. This move, reflective of broader trends in digital banking and online transactions, has sparked debate over privacy and government surveillance. Critics argue that such transitions, while convenient, could further erode financial privacy and autonomy, highlighting the delicate balance between technological advancement and individual rights.

The issue of censorship has also come to the fore, with reports indicating a systematic effort by governments and other entities to control information flow and suppress dissent. This “Censorship Industrial Complex,” as some have termed it, reportedly involves a wide range of actors, from intelligence agencies to media companies, and aims to curate public discourse in favor of certain narratives. The implications of such widespread censorship are profound, threatening the very foundations of free speech and democratic engagement.

On a different note, the resilience of the US power grid and communication networks was tested by an “extreme” G5 geomagnetic storm, the strongest such event in nearly two decades. Despite concerns over potential disruptions, the infrastructure largely withstood the storm’s impacts, avoiding significant failures. This event serves as a reminder of the vulnerabilities inherent in our increasingly digitalized economy and the importance of preparing for space weather events, which are expected to become more frequent and intense as Solar Cycle 25 peaks.

Sources

Climate Change Will Cost a Typical Child Born in 2024 at Least $500,000 Over Their Lifetime

If humanity does not act swiftly to limit it, climate change will cost a typical child born in 2024 at least around $500,000 over the course of their lifetime—and possibly as much as $1 million—through a combination of cost-of-living increases and reduced earnings.

Source | Submitted by Barbara

World’s Largest Floating Solar Farm Damaged by Storm Just Before Launch

Anyone who has ever owned a boat, particular a large boat which gets left in the water, knows what a harsh environment the sea can be. Some kind of failure was inevitable. If it hadn’t been a storm, there are plenty of other things which could have gone wrong.

Source | Submitted by nickythec

Macquarie Bank Announces Phasing Out of Cash Services

Between January 2024 and November 2024, we’ll be phasing out our cash and cheque services across all Macquarie banking and wealth management products, including pension and super accounts.

Source | Submitted by bcoop

The Censorship Industrial Complex: A Systematic Effort to Control Information

A vast swath of unelected bureaucrats took it upon themselves to manage all knowledge flows in the age of the Internet, with the ambition to turn the main source of news and sharing into a giant American version of Pravda.

Source | Submitted by AaronMcKeon

US Power Grid & Communication Networks Survive Extreme Geomagnetic Storm

“The solar storm has knocked out almost all long-distance shortwave radio,” Captain John Konrad, CEO of Captain, wrote on X.

Source | Submitted by AaronMcKeon

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