Hey, have you heard about the global interest rate derivative market? It’s this financial market that was worth around $1.2 to $1.4 quadrillion at the time of the 2008 financial crisis, and it’s still around today. But here’s the thing: even though it’s been reported at a lower $598 trillion in H2 2021, it might still be a threat to the global economy. The decrease in the size of the market isn’t because banks have reduced their exposure to derivatives, it’s because of an accounting trick that made it look like the market had halved overnight. In reality, the market has remained virtually unchanged since the crisis. Read full article here
Societal Issues
To curb drug deaths, communities turn to Reddit, texts and wastewater
With drug overdose deaths on the rise, authorities are attempting to curb the epidemic by tracking and sharing information in real time. In one unique effort, a nonprofit in New York City is using drug-testing equipment and stamping or marking habits of dealers to identify drug batches that may endanger users. Other approaches are also being used, such as monitoring drug-related chatter on Reddit and analyzing local wastewater for opioid and other drug levels. With the combination of these efforts, researchers hope to put a dent in the opioid crisis and reduce overdose deaths. Read full article here
Merv
June 1, 2023
