More than a decade ago, investment experts James Altucher and Douglas Sease wrote a book for the Wall Street Journal called Investing in the Apocalypse. They argued that the end of the world is a profitable opportunity for those who know how to “fade the fear”, as everyone else panics. They maintained that when disaster strikes, investors should approach it with the rationale that “no matter how bad things seem, they really aren’t that bad”.Well before the COVID-19 pandemic, they advised investing in big pharmaceutical companies as a strategy to reap dividends from global pandemics. They also encouraged putting money into renewable energy systems while ramping up oil production.
Today, it seems many have followed Althucher and Sease’s advice. Under the guise of taking action on the pandemic, billions of dollars have been poured into big pharma, instead of public health and policies aimed at preventing another global outbreak. The supposed energy transition that has been undertaken has seen renewable energy production expanded, but there has been no indication that oil and gas are being substituted and ultimately phased out.
What is worse, governments and corporations have teamed up to turn the apocalypse into a money-making opportunity. They have rushed to put forward false solutions …
We are ‘greening’ ourselves to extinction – Al Jazeera English
