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Insights & Advice

BMM ArticlesA Wealth of KnowledgeVideo GalleryThe Retired Advisorwith Bill Schmick

Tag: climate change

Are you ready for $50 hamburgers?

February 3, 2022February 4, 2022 by Bill Schmick

Fifty dollars may be an exaggeration, unless you frequent some high-priced restaurants in Manhattan.  But consumers should be prepared. Beef prices, for the foreseeable future, will continue to climb. Some cuts of meat are already up 25% from where they were six months ago. As the cook in the house, I usually buy a prime rib roast for New Year’s dinner, but not this year. The cost for said morsel doubled in price since last year. I bought Australian lamb instead, which was much more reasonable, but just not the same. I assumed that the price of beef, like almost…

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A new female Fed

January 20, 2022 by Bill Schmick

Just before Martin Luther King, Jr. Day, President Biden announced three new nominations to the Federal Reserve Bank Board, two of which are women. If the U.S. Senate approves, women would then account for most of the Federal Reserve Bank’s seven-member board. Lisa Cook and Sarah Bloom Raskin, if confirmed, would join Lael Brainard, who President Biden picked as vice chair, and Michelle Bowman, who is already a board member. In addition, Lisa Cook would be the first Black woman on the board. Women are still in the minority, however, if you include all the Federal Reserve Bank’s regional presidents,…

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Climate change is costing billions

December 29, 2021December 29, 2021 by Bill Schmick

In 2021, worldwide, the costs of the ten worst disasters caused by climate change totaled more than $170 billion. It was the fourth time in the last five years that we have suffered that level of damages. Scientists expect next year to be even worse. Insurance companies, like Zurich-based Swiss Re, bear the brunt of the costs of extreme weather. During the last decade, losses have been rising 5-6% per year, according to Swiss Re’s recent analysis. They expect at least one $10 billion catastrophe, such as severe flooding, a winter storm, or a massive wildfire will be part of…

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Markets are on the cusp

October 1, 2021 by Bill Schmick

It was another tumultuous week in the markets. Volatility spiked as events in Washington and around the world injected an atmosphere of caution and indecision among investors. I expect more of the same. Welcome to October. A month in which I see a continuation of the last few weeks of uncertainty. The political circus in Washington, D.C. is not helping, and is set to continue making headlines in the days ahead. The debt limit controversary is probably the largest challenge investors face this month. Simultaneously, the battle between progressive and moderate Democrats over the passage of two government spending programs,…

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Weather worsens global trade

September 23, 2021September 23, 2021 by Bill Schmick

Changes in climate are impacting a global economy that is fighting to recover from a pandemic. Supply chain bottlenecks continue to worsen as continuous weather-related catastrophes close ports and snarl land, sea, and air transportation routes. Can it get any worse? Yes, and it probably will, according to climate experts. Nearly all actively publishing climate scientists agree that humans are causing global warming and climate change. The less than 2% of experts that disagree have published contrarian studies that either cannot be replicated or contain errors. I’ll go with the consensus on this issue. Here in the U.S., we receive…

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The carbon market comes of age

May 27, 2021May 27, 2021 by Bill Schmick

At the beginning of this year, the global price of carbon was $24.05 per ton of CO2. In order to achieve the emissions reduction goals of members of the Paris Agreement, prices need to reach a range of $50-$100 per ton of CO2. That makes buying carbon an attractive investment.The ongoing concerns about climate change have spawned several emission trading schemes over the last decade. The reasoning is simple: if left unchecked, carbon emissions (among other factors) will have a material impact on our environment and will do severe damage to the global economy.The ratification of the Kyoto Protocol of…

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