Janet Yellen Put's The Cost Of Green Will Be 150 Trillion Dollars, BOA Explains The Crushing Price

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Bank of America published a breakdown of the true price tag of converting the nations power... 150 trillion dollars.
"while it is handy to have a centralized compendium of the data, a 5 minute google search can provide all the answers that are "accepted" dogma by the green lobby. But while we don't care about the charts, that cheat sheets, or the pr0pag@nda, what we were interested in was the bottom line - how much would this green utopia cost.Show more

Turns out it does. A lot, lot.

When Janet Yellen was responding rhetorically to the key question, "how much will it cost?", BofA cuts to the chase and writes $150 trillion over 30 years - some $5 trillion in annual investments - amounting to twice current global GDP!
This was BofA's startling admission of the above, as excerpted from the report's Q&A on the Conference (COP 26):

Q: What is the economic impact of getting close to zero?

A: The inflation impact of elevated net zero funding will not be insignificant but the impact looks manageable at 1% to 3% per annum depending on central bank monetization rates, particularly if government spending is targeted and contributes to accelerate the rate of global GDP growth. The IEA also has a productive outlook for their net zero scenario, where the change in the annual growth rate of GDP accelerates by somewhere between 0.3% and 0.5% on a sustained basis over the next 10 years as a result of a shift to a green economy.

So, much more QE for the next 30 years, check. What about inflation? Oh, there will be plenty of that too. As BofA admits, "green bond purchases could result in a 1% to 3% inflation p.a. shock"

BofA looked at three separate cases. In the first case, the Fed, ECB and other central banks would subsidize all of the required infrastructure spending to decarbonize (translation: print the money). In a second scenario, they would absorb only half of the new bond issuance. And in a third case, central banks take up only a fifth of all decarbonization spending onto their balance sheet. What is the key finding? If central banks only have to foot 20% of the bill or less, the impact of decarbonization looks "fairly manageable" with respect to inflation (Exhibit 108).

And just so readers know what to BofA looks "manageable" here it is: this is inflation on top of whatever inflation is already in the economy. Of course, if central banks have to "foot" 50%, 80%, or more