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 post was submitted on 19 Apr 2024
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This sounds like a plot from fallout.
It's almost like Fallout is inspired by real life...
I am sure some Ivy League consultant or MBA was paid handsomely to exploit the illiteracy and/or faith of poor people.
Brawndo's got what plants crave.
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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.
I mean, futures have an effective place in capitalist societies; the onion market is rather volatile because onion futures are banned (for hilarious reasons, I might add). The volatility makes is more difficult to run a sustainable onion farming operation.
As for these water futures, while the concept does seem repulsive to me, I don’t really understand how they are responsible for anything here. If water futures were illegal, water suppliers would still be charging a huge markup today. Water companies sold undervalued futures years(?) ago, and they’re the only ones really losing out here. No skin off my back.
(I think that everything I just said is stupid btw. Don’t take this as a defense of the “system”.)
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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.
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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.
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