It's selling hypothetical water that is not there and will never be there. It's a total scam that is going to bite drought-prone areas in the ass big time.
I'll try not get too distraught over the fate of people who live on Pueblo land and learned nothing from it
Never underestimate the ability of banking and finance to invent new financial products and then tell you how it's beneficial for everyone. (See financial crisis and derivatives for good example of this money making house of cards)
Thank goodness for polits like Warren, a regular target of repubs and wealthy individuals, greedy corps and crypto bros.
*As others pointed, like many other polits, Warren too should be called out for insider-trading. We need less cheerleading and greater accountability. Thank you folks for educating me on this.
Talking about a politician who insider-trades her way to tens of millions in gains each year.
The real fix here is to ban speculative trading on anything with either industrial or everyday use (like metals and real estate).
In Mexico there is a town run by Coca Cola and the people literally believe in what I think is Fanta. Everyone dies of diabetes and the undertaker sees what's going on, but it's part of the religion. Coca Cola owns the water in that town. I think it's a Vice report.
This sounds like a plot from fallout.
It's almost like Fallout is inspired by real life...
Brawndo's got what plants crave.
I am sure some Ivy League consultant or MBA was paid handsomely to exploit the illiteracy and/or faith of poor people.
What is even real anymore.
How can water rights be purchased when most of the western states follow prior appropriation? If this introduces riparian laws to the western US that seems like a terrible idea, in addition to the terrible idea of trading in water futures.
I am seeing more Warren in the news lately. Are they trying to make her an alternative to Biden?
She has been an important figure for decades. Biden's got Kamala Harris as VP, they don't need more than that.
Warren tried to fight a law in 2005 that made it more difficult for consumers to file bankruptcy. From 2006-2010 she worked as a member of the FDIC. Her career really started to take off after she was very vocal and harsh against bankers and financial institutions following the 2007-2008 financial crisis, which lead to reform, and later when she became the first female representative from Massachusetts sent to US Congress, she served as the chair for the Congressional Oversight Panel of the TARP. She then served as very first congressional advisor for the newly established Consumer Financial Protection Bureau. She repeatedly refused to run for President in 2016 despite strong support at the time.
So get used to hearing about her until the day she dies, so long as you follow US Politics.
No she's the next controlled opposition after Bernie dies. It's important to have a fake progressive in the Democratic party.
Reminder that she voted to block UNRWA aid and said "israel had the right to defend itself" for quite a while into the Genocide of Gaza.
If this bill fails we should all go long water and opt for physical delivery instead of cash settlement.
"Yes, seller of water futures, you have to deliver 800,000 cubic feet of water to my house. That's derivatives bruh!"
Seriously you have to talk to these finance bozos in the only language they understand- money. For some reason, "people need water (and housing etc.) to live" just doesn't get through to them.
Welcome to the News community!
Rules:
1. Be civil
Attack the argument, not the person. No racism/sexism/bigotry. Good faith argumentation only. This includes accusing another user of being a bot or paid actor. Trolling is uncivil and is grounds for removal and/or a community ban. Do not respond to rule-breaking content; report it and move on.
2. All posts should contain a source (url) that is as reliable and unbiased as possible and must only contain one link.
Obvious biased sources will be removed at the mods’ discretion. Supporting links can be added in comments or posted separately but not to the post body. Sources may be checked for reliability using Wikipedia, MBFC, AdFontes, GroundNews, etc.
3. No bots, spam or self-promotion.
Only approved bots, which follow the guidelines for bots set by the instance, are allowed.
4. Post titles should be the same as the article used as source. Clickbait titles may be removed.
Posts which titles don’t match the source may be removed. If the site changed their headline, we may ask you to update the post title. Clickbait titles use hyperbolic language and do not accurately describe the article content. When necessary, post titles may be edited, clearly marked with [brackets], but may never be used to editorialize or comment on the content.
5. Only recent news is allowed.
Posts must be news from the most recent 30 days.
6. All posts must be news articles.
No opinion pieces, Listicles, editorials, videos, blogs, press releases, or celebrity gossip will be allowed. All posts will be judged on a case-by-case basis. Mods may use discretion to pre-approve videos or press releases from highly credible sources that provide unique, newsworthy content not available or possible in another format.
7. No duplicate posts.
If an article has already been posted, it will be removed. Different articles reporting on the same subject are permitted. If the post that matches your post is very old, we refer you to rule 5.
8. Misinformation is prohibited.
Misinformation / propaganda is strictly prohibited. Any comment or post containing or linking to misinformation will be removed. If you feel that your post has been removed in error, credible sources must be provided.
9. No link shorteners or news aggregators.
All posts must link to original article sources. You may include archival links in the post description. News aggregators such as Yahoo, Google, Hacker News, etc. should be avoided in favor of the original source link. Newswire services such as AP, Reuters, or AFP, are frequently republished and may be shared from other credible sources.
10. Don't copy entire article in your post body
For copyright reasons, you are not allowed to copy an entire article into your post body. This is an instance wide rule, that is strictly enforced in this community.