Economy
How Bitcoin’s vast energy use could burst its bubble
Its high profile support helped pushed the price of a single Bitcoin to more than $58,000.
But it isn’t just the digital asset’s price that has hit an all-time high. So has its energy footprint.
The Real Story of the Covid Catastrophe is Larger Than You Know
Our planet is screaming a message at us, and Covid is part of that communication. The death of nature and the appearance of Covid are all part of the same thing.
I’ll never forget the day the trucker called into my radio show. It was at least a decade ago, and he identified himself as a long-haul trucker who regularly ran a coast-to-coast route from the southeast to the Pacific Northwest dozens of times a year.
10 signs a greater depression is coming
NEW YORK CITY: After the 2007 to 2009 financial crisis, the imbalances and risks pervading the global economy were exacerbated by policy mistakes.
So, rather than address the structural problems that the financial collapse and ensuing recession revealed, governments mostly kicked the can down the road, creating major downside risks that made another crisis inevitable.
It’s Not Just Texas. The Entire Energy Grid Needs An Upgrade For Extreme Weather
The Texas blackout is another reminder that more frequent, climate-driven extreme weather puts stress on the country’s electricity grid. It came just months after outages in California aimed at preventing wildfires.
Compounding this, electricity likely will be even more important in coming years amid a push to electrify cars and homes to reduce greenhouse gas emissions. That has many grid experts saying it’s time to upgrade the country’s electricity infrastructure.
SEC Suspends Trading in Multiple Issuers Based on Social Media and Trading Activity
As part of its continuing effort to respond to potential attempts to exploit investors during the recent market volatility, the Securities and Exchange Commission today suspended trading in the securities of 15 companies because of questionable trading and social media activity.
Today’s action follows the recent suspensions of the securities of numerous other issuers, many of which may also have been targets of apparent social media attempts to artificially inflate their stock price. The SEC continues to review market and trading data to identify other securities where the public interest and the protection of investors require trading suspensions.
The Danger Of The Administrative State
Lockdowns should have shown every American just how tyrannical and unreasonable our leaders can be. There are elected leaders like Governor Cuomo who have acted as outright tyrants, alienating everyone, even those in his own party. Then there are the unelected bureaucrats who wave away our liberties with the stroke of a pen from the secrecy of their massive offices with technocratic efficiency. This is all of course a sudden and dramatic curtailing of our freedoms. I would not be surprised that with this much public attention, some sort of effort will be made to roll back much of what has been done. Although lockdowns are certainly an existential threat to our long-term freedoms and system of liberal democracy, there has been another specter out there that many experts have been sounding the alarm on for decades. The growth of the administrative state.
Coinbase Mafia Shows How Tight a Circle Holds Sway Over Bitcoin
Coinbase Global Inc.’s filing to become a publicly-traded company provides a glimpse into the remarkably small circle of mostly men who command the incredibly lucrative digital landscape.
This U.S.-based power list starts with Brian Armstrong, the now billionaire chief executive officer of Coinbase, and his co-founder, Fred Ehrsam, who went on to create Paradigm Operations. Fellow billionaire Fred Wilson of Union Square Ventures, and Andreessen Horowitz’s Chris Dixon, are among the original venture capitalists that will reap large windfalls from the direct listing of the exchange.
Texas Energy Co-Op Files For Bankruptcy After Storm, High Bill
The largest power cooperative in Texas filed for bankruptcy protection Monday, citing a massive bill from the state’s electricity grid operator following last month’s winter storm that left millions of residents without power for days.
Brazos Electric Power Cooperative Inc. filed for Chapter 11 in the U.S. Bankruptcy Court for the Southern District of Texas, according to court documents reviewed by NPR.
Italy’s Debt Soars on Pandemic Aid But Stays Below Estimates
Italy’s public debt rose dramatically in 2020, though by less than international institutions and the government had forecast.
Government debt stood at 155.6% of gross domestic product at the end of the year, national statistics institute Istat said on Monday. That compares with 134.6% in 2019, after the country spent more than 100 billion euros ($120 billion) to support its virus-battered economy.
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