New Deal is about structural change, not just structural change in the use off fossil fuels.

In other words, how we have to just stop using fossil fuels and now, because it's almost too late already.

But secondly, how the financial and economic system is tightly integrated in to the ecosystem on DTA help you understand what I mean by that we have a deregulated financial system.

Essentially, of course, if you speak to bankers and financiers, they'll complain about endless regulations.

But in effect, the system is a deregulated is beyond the reach.

If you like off sovereign governments, the financial system operates in what I like to call the stratosphere, but it's beyond the boundaries, the political and economic boundaries of nation states.

Which is why JPMorgan Chase, for example, in the three years after the Paris climate agreement lent $196 billion to coal, gas and oil companies around the world, not in just one country.

Compare that to Exxon that it invested only $3 billion a year for three years after the Paris climate agreement.

And you can see the banks play a very big part in providing the oxygen that fires up global warming.

The back turn in a position to create credit almost effortlessly on almost without government intervention, without central bank guidance as to where that credit is aimed at and for what purpose is being used and, above all, how it's going to be repaid.

The finance sector, both the traditional finance sector but also the shadow banking sector because we now have a banking sector that operates in the shadows, are able to create credit if you like ad infinitum and they have done.

And if you don't believe me or you have to look at are the EMFs numbers on the level of global debt, because debt is, of course, just the other side of credit.

So they spewed out enormous amounts of credit on that credit.

In turn, fuels consumption on production on that in turn, fuels emissions.

And so what we argued when we were drafting the green New Deal that unless you can think of the system as a system and not as the ecosystem, is this bit of it, which we have to hug and look after, but really as something that's deeply integrated into the financial system.

So in order to address the question of emissions, Andi ecosystem, we have to first and foremost address the financial system on the economic system.

What is the metaphor that I think the most helpfully guide us through this?

Do you think, what, what sort of scary we're talking about?

And you can we reach beyond our current mindset to get there or what?

We're really asking ourselves or something which is really too much for us to handle.

Have we unleashed forces that we now can't control the scale of this crisis unprecedented?

We're talking here about the survival of our civilization.

There is going to be a catastrophic crisis on.

Of course, if it happens in Bangladesh or in Mozambique, nobody will take any notice.

But if New York City was to endure something worse than Hurricane Sandy.

And if Wall Street would be flooded on disappear, I can assure you that tomorrow we'll do some.

Andi.

It's not that improbable.

People forget that it was only a year 18 months ago that Cape Town, which is a city on the sea, ran out of water on.

You know, of course, Cape Town is a long way away and didn't affect us, but it ran out of water.

James Meeks got a wonderful piece in this week's London Review of Books about ST Albans.

ST.

Albans has drained it.

Z talk water.

Ah, what?

What did they?

Water supplies basically is drying up.

You know what some Corbyn's is now sort of suburban city.

It's now place from where city workers commute to get into the city of London.

What happens if they run out of water?

What happens of London runs out of water.

What happens if London is flooded?

It seems to me we could have that kind of crisis, which would bomb trigger us into action straight away.

That's one possibility.

Another possibility, I am afraid to say, is war.

We now have trade wars happening, which we haven't had for a very long time.

And we all know trade wars lead to real wars.

There are very big political tensions out.

We have a very incompetent American president with enormous power and with access to nuclear weapons.

I don't wanna be too alarmist about this, but I want us to be thinking that the people in charge of the nuclear weapons today are a bit bonkers, some of them really on.

Then thirdly, there is the very, very, very riel chance of another global financial crisis.

I mean, the IMF two days ago is kind of has pressed the panic button.

And for the IMF to do that is extraordinary.

Really eso It's not just little old me saying this.

The's big institutions are really scared.

The global system is now massively imbalanced.

Huge amounts of debt, not enough income, huge amounts of debt, lots of austerity.

Europe, you know, held down, held back, if you like by austerity.

And Keynes famously once said, you can't balance the nation's budget by cutting the nation's income.

But for the last 11 years, we've let the finance sector run wild, you know, on Decree eight, credit and expand.

We've encouraged with Q and so on and so forth.

And we now have more death than we had before the last crisis.

While at the same time fiscal policies have repressed incomes very deliberately and that's caused massive imbalances.

When you have imbalances like that, you get crisis.

Justus Shuras Night follows day.