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A Grave Threat to the Planet

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A Grave Threat to the Planet

Author: Greg Valliere

September 8, 2023

WITH HURRICANE LEE APPROACHING UNTHINKABLE INTENSITY, it’s self-evident that climate change represents a grave threat to the planet. A hurricane with top winds of nearly 200 miles per hour is simply more evidence that there’s a climate crisis.EVERYONE HAS AN ODD HOBBY, and ours happens to be an addiction to the weather — its changes and excesses are fascinating and the weather often disrupts our plans as we travel across North America. Knowledge is power, which is why we’re always checking the radar.

THE REAL EXPERTS ARE ASTONISHED by what they’re seeing, as this summer comes to an end — a summer that almost certainly will go down in history as the world’s hottest on record, by far.

THIS YEAR’S MIND-BOGGLING HEAT is not just on land. It’s also in the oceans, which provide the rocket fuel for hurricanes. A temperature of just under 100 degrees (about 38 degrees celsius) was recorded in the water off the Florida Keys earlier this summer.

A CLAIM THAT THE EARTH FACES A GRAVE CRISIS had better come with compelling evidence, which is where Lee enters the picture. Its peak winds jumped, astonishingly, from 80 mph to 160 mph in just 18 hours yesterday, becoming a Category 5 storm that may intensify further, perhaps with gusts exceeding 300 km per hour. Ironically, a similar intensification came in a Pacific typhoon this week that produced record rainfall in Hong Kong.

THE NATIONAL HURRICANE CENTER, which has a data-packed web site, has predicted Lee’s wind could hit 180 miles per hour this weekend, with 200 mph winds possible before the storm may weaken to a mere Category 4 early next week.

THE ONLY GOOD NEWS is that the full force of Lee may never be felt on land; the storm could deliver a glancing blow to Bermuda or Long Island or Cape Cod next week without directly hitting land. But we worry about our friends in eastern Canada, who may face a devastating direct blow in the middle of next week.

WEATHER DISASTERS HAVE BEEN EPIC THIS SUMMER — as fires raged from Maui to Western Canada to Greece. And the destructive storm surge from hurricanes and cyclones has driven sea levels higher, forcing insurance companies to re-assess how much they can cover.

ARE THERE POLITICAL SOLUTIONS TO THIS CRISIS? Nothing dramatic seems imminent. And even modest proposed solutions are expensive and controversial; carbon polluters in China and India seem unwilling to take major action, especially on coal burning.

SORRY TO BE A BUZZ-KILL THIS MORNING, but these hurricanes and fires are not normal — the alarms are ringing everywhere. Good luck to the great people of eastern Canada; they may become the next victims of this unprecedented crisis.


The views expressed in this blog are those of the author and do not necessarily represent the opinions of AGF, its subsidiaries or any of its affiliated companies, funds or investment strategies.

The views expressed in this blog are provided as a general source of information based on information available as of the date of publication and should not be considered as personal investment advice or an offer or solicitation to buy and/or sell securities. Speculation or stated believes about future events, such as market or economic conditions, company or security performance, or other projections represent the beliefs of the author and do not necessarily represent the view of AGF, its subsidiaries or any of its affiliated companies, funds or investment strategies. Every effort has been made to ensure accuracy in these commentaries at the time of publication; however, accuracy cannot be guaranteed. Market conditions may change and AGF accepts no responsibility for individual investment decisions arising from the use of or reliance on the information contained herein. Any financial projections are based on the opinions of the author and should not be considered as a forecast. The forward looking statements and opinions may be affected by changing economic circumstances and are subject to a number of uncertainties that may cause actual results to differ materially from those contemplated in the forward looking statements. The information contained in this commentary is designed to provide you with general information related to the political and economic environment in the United States. It is not intended to be comprehensive investment advice applicable to the circumstances of the individual.

AGF Investments is a group of wholly owned subsidiaries of AGF Management Limited, a Canadian reporting issuer. The subsidiaries included in AGF Investments are AGF Investments Inc. (AGFI), AGF Investments America Inc. (AGFA), AGF Investments LLC (AGFUS) and AGF International Advisors Company Limited (AGFIA). AGFA and AGFUS are registered advisors in the U.S. AGFI is a registered as a portfolio manager across Canadian securities commissions. AGFIA is regulated by the Central Bank of Ireland and registered with the Australian Securities & Investments Commission. The subsidiaries that form AGF Investments manage a variety of mandates comprised of equity, fixed income and balanced assets.

About AGF Management Limited

Founded in 1957, AGF Management Limited (AGF) is an independent and globally diverse asset management firm. AGF brings a disciplined approach to delivering excellence in investment management through its fundamental, quantitative, alternative and high-net-worth businesses focused on providing an exceptional client experience. AGF’s suite of investment solutions extends globally to a wide range of clients, from financial advisors and individual investors to institutional investors including pension plans, corporate plans, sovereign wealth funds and endowments and foundations.

For further information, please visit AGF.com.

©2023 AGF Management Limited. All rights reserved.

Written by

Greg Valliere

Greg Valliere

Chief U.S. Policy Strategist

AGF Investments

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