Glenn Rudebusch, the San Francisco Fed’s executive vice president for research, ranks climate change as one of the three “key forces transforming the economy,” along with an aging population and rapid advances in technology. Climate change could soon hit the banking system “by storms, droughts, wildfires, and other extreme events” making it harder for businesses to repay loans.https://grist.org/article/federal-reserve-climate-change-economy-green-bonds/
Bankers fear falling birth rates. Ironically, they will blame defaults on climate disruption, while the best way to fight climate disruption is to speed the decline of births -- a bigger cause of default.
Human population is still rising, but the people are in all the wrong places. The more developed an area, the faster the birth rate falls. Immigration from more populous areas can help but it is difficult to implement quickly enough.
Everyone should be preparing for the high unemployment that will come with debt defaults. Cut waste, get rid of cars, plant food, don't have babies.
