bilby
Fair dinkum thinkum
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In actual fact if the Earth's magnetic field flipped over now then the main problem would be the fate of modern technology.
I think I must be having a premature senior moment. Why would there be a risk to modern technology? I understand that magnetism and electricity interact... but why should my cell phone, for example, give to shakes about the orientation of the planet's magnetosphere, provided it exists? Is it strong enough to matter if it even ceased to exist?
ETA: Sorry to disrupt you guy's humorous ramblings with srs bsns.
Opinion is divided on how serious the effect might be, but the main risk is the effect of solar flares, particularly on long power lines. The magnetosphere generally shunts the worst of the charged particle bombardment from such flares out of the way, some passing by the Earth entirely, and the bulk of the remainder to the magnetic poles, where they enter the atmosphere and cause aurorae; the small amount that reach the ground in normal circumstances usually do so in areas where population is sparse, and do little damage.
There have been occasions in the past when sufficient flux has reached ground level in inhabited latitudes to induce currents sufficient to shut down power grids; and if the magnetic field was to drop to zero for an appreciable length of time, we would be much more exposed to CMEs and other solar flare activity; how damaging that would be is not well understood; many think that the induced currents would be too small to matter except in very long conductors - such as interstate power transmission lines; others speculate that even small circuits, such as are found in silicon chips, could be sufficiently affected to fry many or even most such devices - the conductors connected to such chips are short, but the current required to fry them can be pretty low; the total ground level flux we might see could vary hugely from flare to flare, and little real-world data is available from the few decades since chips became ubiquitous, so it is difficult to make a confident guess.
The Sci-Fi doom scenario is, IMO, overplayed; but certainly there is the potential for considerable disruption to power supplies worldwide.
Some have even suggested health effects up to and including death from our exposure to the ionising radiation from such flares; however the increase in radiation levels above background at ground level would be tiny - the atmosphere itself is adequate protection - so that is almost certainly not an issue; the ionosphere would be seriously influenced, but as this is not the 1940s any more, and most radio communications no longer rely on stable ionospheric conditions, this would likely be unimportant.
It would take on the order of hundreds of thousands of years for the effects on the composition of the atmosphere to become significant - which also has not stopped Sci-Fi writers from penning doomsday tracts about all the oxygen being stripped from the atmosphere, or converted to ozone. None of these ideas are realistic.
(Nevertheless, I suggest that if the field does collapse, we should all go outside and wave fridge magnets over our heads to compensate).