Sen. Elizabeth Warren's bill would end trading in water futures - eviltoast
  • QuaternionsRock@lemmy.world
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    7 months ago

    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”.)