As regular readers know, I largely steer clear of politics. Political beliefs are largely beyond argument (on both sides), so it’s not a good use of time to put out arguments that go against someone’s convictions. Yet, in economics and markets, we do have to deal with the facts, as we saw recently with the pandemic. Regardless of where you stand on the vaccine, for example, the facts are what they are. And that is where we now find ourselves with climate change.