The risks outlined in Part I of this Briefing are having a leveraging effect on damages – that is, the damage from one is making the damage for another worse.These risks are converging on the economy and society. The pandemic is increasing stresses on individuals, who also are suffering additional mental stress from storm and wildfire damage, which are part of rising temperatures which foment more violence. This negative cycle of effects is causing problems for insurance companies, corporate benefit packages, employment, military preparedness, mental healthcare, electricity systems, social order, food production and other aspects of the economy. Several conclusionscan be deduced from converging risks and assessment failures: Elevated Risks in a Networked Economy (or Speed Kills); Expenses Catching Up to Reality (i.e., Inflation); Virtual Reality in the Mind; and Belief Over Reason. Having postponed dealing with these crises as they arose will now make remedying them much more costly.