collapse of the old society

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Climate crisis on track to destroy capitalism, warns top insurer (www.theguardian.com)

submitted 4 days ago by [email protected] to c/[email protected]

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[–] [email protected] 12 points 4 days ago

Unfortunately, a lot of the cash on hand for insurers comes from selling financial instruments like annuities. Annuities are something that retirees buy with their life savings to provide a fixed income. If the insurance industry goes bankrupt, it's taking a lot of people with it.

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