The interesting thing about Capitalism is that it is always state-backed and money trickles up. Witness the devastating fires in Pacific Palisades, California, they have not yet stopped, sadly, but they have been already named 'the most expensive' in US History by Bloomberg, and they may push "FAIR", California's state-sponsored insurer of last resort, to the brink. And when that happens, guess who...The interesting thing about Capitalism is that it is always state-backed and money trickles up. Witness the devastating fires in Pacific Palisades, California, they have not yet stopped, sadly, but they have been already named 'the most expensive' in US History by Bloomberg, and they may push "FAIR", California's state-sponsored insurer of last resort, to the brink. And when that happens, guess who is going to foot the bill for all this ultra-expensive real estate. This is just a fraction of the bill for the Climate Crisis by the way, which is also paid by the weakest, in what constitutes the 'unjust transition'. bloomberg.com/news/articles/2025-01-08/los-angeles…
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