How bad could global cooling be?

Pretty bad, according to one estimate as reported in Global Cooling: be very afraid
If his analysis of declining sunspot activity is correct, then global mean temperatures are going to decline by about 2 degrees C by 2040 – completely undoing all that lovely beneficial (but rather meagre 0.8 degrees C) global warming we have experienced in the last 150 years.

It will mean longer, colder winters and cooler summers. But far worse than the discomfort will be the effect it has on grain production. The shift in latitudes at which corn and wheat can be grown will be the equivalent of losing a belt 300 kilometres wide all around the world, leading to the loss perhaps 400 million tonnes per annum of grain.
Global cooling benefits the energy sector and parts of the agricultural sector. Northern farmland will do poorly. What's worth buying? Think Virginia ski resorts.

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