for subscribers

Water risks strand projects worth billions

Share your Subscriber Article
You have 5 articles to share every month. Send this story to a friend!

This article is brought to you by news and science centre CircleofBlue.org

In early November 2002, six years before Lehman Brothers melted down and the American economy came much too close to collapsing, John Cassidy wrote a prophetic article in the New Yorker magazine on ominous trends in US home mortgage financing.

Cassidy, one of the top US financial journalists, reported that softening housing prices, easy lending practices, and wage earners taking on more debt than they could possibly afford “could also mark the beginning of something much more serious”.

More than a decade later economists and financial analysts are again identifying powerful signals of economic distress, this time in the energy, mining, power-producing, and farm industries.

Converging economic, ecological, technological, and political trends are causing the turmoil. A good deal of the distress is linked to the Earth’s shifting hydrological conditions caused by climate change.

There’s more to this story
Subscribe to News24 and get access to our exclusive journalism and features today.
Subscribe
Already a subscriber? Sign in
ZAR/USD
16.33
(-0.06)
ZAR/GBP
21.08
(-0.04)
ZAR/EUR
19.33
(-0.03)
ZAR/AUD
11.90
(-0.03)
ZAR/JPY
0.16
(-1.15)
Gold
1949.72
(+0.03)
Silver
26.74
(+0.09)
Platinum
928.80
(+0.44)
Brent Crude
43.52
(-0.32)
Palladium
2356.01
(+0.63)
All Share
54673.65
(-0.66)
Top 40
50399.16
(-0.59)
Financial 15
9841.32
(-2.14)
Industrial 25
72558.00
(-1.08)
Resource 10
55438.10
(+0.58)
All JSE data delayed by at least 15 minutes morningstar logo
Company Snapshot
Voting Booth
Do you think it was a good idea for the government to approach the IMF for a $4.3 billion loan to fight Covid-19?
Please select an option Oops! Something went wrong, please try again later.
Results
Yes. We need the money.
11% - 1303 votes
It depends on how the funds are used.
73% - 8631 votes
No. We should have gotten the loan elsewhere.
16% - 1902 votes
Vote