{"id":446045,"date":"2026-05-23T03:48:10","date_gmt":"2026-05-23T10:48:10","guid":{"rendered":"https:\/\/climatescience.press\/?p=446045"},"modified":"2026-05-23T03:48:12","modified_gmt":"2026-05-23T10:48:12","slug":"voodoo-modeling-says-climate-change-makes-interest-rates-rise","status":"publish","type":"post","link":"https:\/\/climatescience.press\/?p=446045","title":{"rendered":"Voodoo modeling says climate change makes interest rates rise"},"content":{"rendered":"\n
\"\"
Flag of Australia. Australian symbol. Flag on the background of dry cracked earth. Australian flag with drought concept<\/figcaption><\/figure>\n\n\n\n

From CFACT<\/a><\/p>\n\n\n\n

By Joanne Nova<\/a><\/p>\n\n\n\n

Interest Rate Climate Porn attacks Australia<\/h4>\n\n\n\n

Henceforth and verily, a witless economic model stacked on top of a skillless scientific one says that eating beef steaks makes the interest rate rise. But don\u2019t worry, if you spend thousands buying heat pumps, windmills, and EVs from Matt Kean\u2019s friends, you\u2019ll pay less on the mortgage (trust us), and Wollemi Capital, who Matt Kean works for<\/a>, will make more money.<\/p>\n\n\n\n

Right now, interest rates are a hot topic, so bingo<\/em>, Climate Change causes that too:<\/strong><\/p>\n\n\n\n

Inaction to force up rates, says Climate Change Authority\u2019s Matt Kean<\/a><\/h3>\n\n\n\n

By Rosie Lewis, The Australian<\/em><\/p>\n\n\n\n

Natural disasters fueled by a failure to curb global warming will make higher interest rates a permanent feature of Australia\u2019s economy, the government\u2019s climate change tsar Matt Kean<\/a> has claimed, as analysis shows the \u00adextent to which climate inaction will harm the nation \u2013 in particular in NSW and Queensland \u2013 and reduce households\u2019 income.<\/p>\n\n\n\n

The Australian Prudential Regulatory Authority has relied on economic modelling by Oxford Economics Australia to inform its first stress test of how a changing climate could affect home insurance<\/a>, with the data showing the economy fares better \u2013 albeit still with challenges \u2013 when strong climate action is \u00addelayed and taken in the 2030s rather than not at all.<\/p>\n\n\n\n

Mr. Kean said Australia\u2019s prudential supervisor had put a scenario estimate on the cost of climate inaction that dwarfed the cost of acting.<\/p>\n\n\n\n

\u201cWe\u2019re talking about household incomes potentially 20 per cent lower than the status quo, persistent inflation, and rising interest rates driven not by policy mistakes but by floods, fires and other disasters made worse by climate change,\u201d Mr Kean said.<\/p>\n\n\n\n

Not only are climate models<\/a> unable to predict wind<\/a>, rain<\/a>, drought<\/a>, clouds<\/a>, cyclones<\/a>, and El Ninos<\/a>, they also can\u2019t predict the climate in the short run<\/a>, the long run<\/a>, or the past either<\/a>. Therefore, the economic modeling is mere fortune-telling or worse, it\u2019s just advertising<\/em>.<\/p>\n\n\n\n

The data, The data<\/h4>\n\n\n\n

We already know both types of models are wrong. Despite humans emitting a trillion tons of CO2, Australian climate disasters aren\u2019t costing us any more<\/a> than they were 60 years ago*.  This is despite rampant population growth from 11 million to 27 million people at the same time, with so many extra houses to burn, and a lot more cars to wash away.  Globally, the more CO2 we emit, the less we spend on weather disasters<\/a>.<\/p>\n\n\n\n

Professor Roger Pielke Jnr<\/a> has the data. (References below).<\/p>\n\n\n\n

\"\"
Source: ICA.<\/a> Note that 2025 is through September.<\/figcaption><\/figure>\n\n\n\n

Just one big happy Vested Interest<\/h3>\n\n\n\n

Matt Kean is the \u201cfundraiser\u201d for a team dedicated to profiting from Climate subsidies \u2014 it\u2019s his job to try to scare you out of your cash. How else will Wollemi Capital make money?<\/p>\n\n\n\n

Now he\u2019s paired up with APRA, which is a statuary authority<\/a> supposedly regulating the bankers, but which really works for Minister Jim Chalmers and is totally dependent on the largess of Big Government for it\u2019s 844 salaries.  It\u2019s a pure Blob machine, and we can assume their lives are easier if they do things that make Jim Chalmers happier, and also do things that make voters think that Big Spending Governments are worth voting for. (ie, The Labor kind).<\/p>\n\n\n\n

As for their ability to predict the economy, let\u2019s just say APRA didn\u2019t see the GFC coming. <\/em>It was the biggest event in APRA\u2019s economic lifetime, and they didn\u2019t warn us.<\/p>\n\n\n\n

The thing that makes interest rates rise is Big-Spending Governments with fantasies that they can change the global weather. Jim Chalmers not only has an interest in selling his renewable policy, he has an interest in blaming the rises on someone else.<\/em><\/strong><\/p>\n\n\n\n

Modeling is the legerdemain by which con artists separate you from your money. An obedient model will find whatever the modeler wants it to find.<\/p>\n\n\n\n

This article originally appeared at JoNova<\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Natural disasters fueled by a failure to curb global warming will make higher interest rates a permanent feature of Australia\u2019s economy, the government\u2019s climate change tsar Matt Kean has claimed, as analysis shows the \u00adextent to which climate inaction will harm the nation \u2013 in particular in NSW and Queensland \u2013 and reduce households\u2019 income.<\/p>\n","protected":false},"author":121246920,"featured_media":446047,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_coblocks_attr":"","_coblocks_dimensions":"","_coblocks_responsive_height":"","_coblocks_accordion_ie_support":"","advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[1],"tags":[691818216,691843239,691818056,691843238,691843240,691818087],"class_list":["post-446045","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized","tag-australia","tag-australian-prudential-regulatory-authority","tag-climate-change","tag-climate-porn","tag-climate-subsidies","tag-global-warming","fallback-thumbnail"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/climatescience.press\/wp-content\/uploads\/2026\/05\/0Dryed-up-Australia-flag-climate-scaled-1.jpg?fit=2560%2C1280&ssl=1","jetpack_likes_enabled":true,"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/paxLW1-1S2h","jetpack-related-posts":[{"id":346513,"url":"https:\/\/climatescience.press\/?p=346513","url_meta":{"origin":446045,"position":0},"title":"Fight submarines with solar panels?: Former Defence Chief more afraid of bad weather than China","author":"uwe.roland.gross","date":"10\/12\/2024","format":false,"excerpt":"Admiral Barrie says \u201c\u00a0security threats from climate change dwarfed those posed by China\u201d. 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