finance – Between Hell and High Water

By Mike Koetting

Republicans in Congress declared the week of July 14 as “Crypto Week” with the intent of passing three bills on crypto currencies as part of a push to boost and legitimize the U.S. cryptocurrency industry by giving it a regulatory framework that’s lighter than what traditional financial assets and institutions face but at the same time creates an aurora of legitimacy. All three of these bills passed. One, the so-called GENIUS Act, had already been passed by the Senate—with 18 Democratic votes– and Trump has signed it into law. The other two also passed, but face an uncertain future in the Senate. Not surprisingly, the value of existing cryptocurrency soared with the attention. Bitcoin, the best known cryptocurrency, hit an all-time high.

The details of these bills aren’t anywhere near as important as the fact that crypto is being treated seriously. There is no compelling reason for cryptocurrencies and profound reasons why they should simply be ignored. Or banned if ignoring them turns out to leave too many risky possibilities in play.

By Mike Koetting April 9, 2024

I believe one of the reasons that people discount the threats to our environment is that they imagine them as some really catastrophic events resulting in the kind of dystopian science fiction scenario portrayed in a Mad Max movie. Since that is, literally, unthinkable, it gives license to lower the immediate threat level.

However, it is not likely it will happen like that. It is much, much more likely that things will come apart gradually, one problem after another, each compounding the previous. It has already started to happen, poking successive holes in the fabric of our life. Today’s conversations are no longer just about the future.

This post addresses one of these clear and present problems—the retreat of home owners’ insurance in the face of environmental threats.

Tag: finance

Why Do We Tolerate the Crypto Scam?

Property Insurance: An Environmentally Endangered Species