Importance of recalibrating the carbon bubble

Importance of recalibrating the carbon bubble

Our economy as well as global economies are  unhappily only too familiar with bubbles and stranded assets/costs. The most  recent example that led to the global financial crisis is subprime mortgages –  where the inflated value was belatedly recognised, leading to recalibration at  significant global costs. The resulting stranded assets were the repossessed  houses, and the implications of stranded costs are what we are continuing to see  unfold across failing economies whose banks were more directly invested in the  bubble than Australia.

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