You may not have heard of Stuart Kirk before today. I can virtually guarantee that none of you had heard about him before May 1st. Besides Elon and the absolute wizardry of Connor McDavid’s playoff performance, Stuart Kirk is a current top 3 crush of mine (Vicki, you will always be my first crush!).
Before this week, he workED at HSBC as the head of the bank’s responsible investing. After this week, his career is likely over (at least as it was) as he was suspended for “this” presentation. As one who hasn’t shied away from controversial presentations in the past, I cannot support Stuart enough for his bravery, candor and shocking transparency. In a world of virtue signaling words while not changing actual behaviors, it’s a breath of fresh air and an amazing presentation. That it will be his last as an HSBC employee is sad and reflective of a tragic and dishonest world that I look forward to seeing change as more voices rise up to quell cancel culture. The trick, you must speak up. One person can be crushed, thousands cannot. First, they came for your enemy, and you said nothing. Then they came for your neighbor, and still you stayed quiet. Soon, they will come for you (and your wallet) and there will be no one left to speak.
In 16 minutes (the last 4 is absolutely worth the watch), he destroys the entire “climate risk” narrative by letting listeners in on two big secrets. First, in 2100, the economy might be 5% smaller than it otherwise would due to climate issues but it’s 500-1000% bigger than it is today (in his words, so climate risk is totally irrelevant). And second, that in order for banks to make scary projections of things 80 years in the future, they introduce a massive interest rate shock on top of negative GDP growth, which has never happened in the history of ever. Like “the social cost of carbon,” fun with discount rates can move a very small number to a massively terrifying number. All the while, shouldn’t the banks have seen inflation coming and taken steps to head that challenge off, rather than pontificating about the year 2100?
Nonetheless, the bosses at the bank (who likely approved the presentation before he gave it) heard the backlash from the climate activists immediately. Though they are small in number, they are very loud on social media and they do not like it when people engage them in a debate about their facts and hyperbole. And thus, as they have with Alex Epstein’s and his new book “Fossil Future” which they have tried hit piece after hit piece and to try to pressure his publisher into withdrawing the book. Or, as they did with Alex Berenson for his reporting on Twitter of COVID before getting him banned, they scream loudly for cancelation and the oppression of dissent. “Thou shan’t disagree!!!” They yell. “A jobless curse is cast upon your reputation!”
Not surprisingly, the masters at banks making $20 mm a year and not wanting that gravy train to end, now to the pressure, scream “oh the horror!!! We didn’t know what he was going to say!!!!”and dutifully, they bring out the tar, the feathers and the gallows for a public execution to the howling glee of the woke do-gooders. No doubt, they will trump up some sexual harassment or misogyny claim from 2009 and totally destroy his life for good measure. And unlike Musk and Rogan, with Kirk, they will succeed as they did with David Sabatini. If you haven’t read this from Bari Weiss, I highly recommend it.
I commend Stuart Kirk. I applaud him. He said what many know and are too afraid to say and knew there would be repercussions. He didn’t care and we should all thank him for his public service. He has shifted the Overton window on climate risk. Maybe narrowly, maybe imperceptibly, but it has shifted. The way to take up the torch is simply to share his message to all your friends and encourage them to share it with their friends and so on.
The climate is changing. It always has, it always will. But mitigation is the way to transfer wealth from the poor to the already wealthiest. Adaptation is the path to human flourishing. According to climate alarmists places like Amsterdam will disappear, no discussion, this is fact. But Amsterdam is a great place to visit, and millions have lived below sea level for a very long time. Allowing those that shout the loudest to cancel opposition only prevents us from having conversations we should be having. And generally speaking, anyone afraid of conversation, is afraid for a reason.
This man sees clearly the economic damage being done by the climate crowd. So ironic that the truth is that co2 is at worst a mild warming agent and more likely has no effect on climate at all. The greenhouse gas hypothesis that the climate is warmer than it otherwise would be because of trace gases is inconsistent with well known thermodynamic principles.
I couldn't believe I was hearing all this while I was listening to Kirk's speech. Telling the truth so openly, nay, brazenly? Outrageous! And the content of the speech was agreed internally, and now they're "suspending" him? Is he taking one for the team or what?