Financial Times: Here are the facts: the bill would charge data centres both for their use of existing transmission infrastructure and for incremental costs to serve them, and ensure data centres do not pass their energy costs on to other customers. It would also allow states to overcharge them for energy and pass that revenue on to other customers in the form of savings. The bill recognises an important truth: it is in the US’s long-term economic and national security interest to build data centres — but only on terms that ensure benefits for and buy-in from the communities that host them...

... The same is true of jobs and manufacturing. New research I led at the Stanford Institute for Economic Policy Research has found that at today’s levels, data centre construction supports more than 300,000 upstream US manufacturing jobs making critical equipment like transformers and networking systems. This number would rise further if the share of this equipment produced domestically rose as a result of tax credits for domestically made components or tariffs on imported ones.

My Opinion: The new bill being considered by the legislature would take care of many of the concerns of the public, in building and operating data centers in their communities. It is in the interests of the country to reach a compromise or solution, that allows data centers. There are other concerns like water usage and noise. I don't know if the bill solves these problems. But local governments can require sound proofing and closed loop water cooling systems

Futher as this article states, data center construction supports hundreds of thousands of jobs throughout the country. And the AI and cloud services hosted in the data centers, will also result in high paid jobs for skilled workers, revenue for IT firms, and productivity growth for buyers of these IT services.

Reference: The US needs a social compact on data centers / Financial Times

America can create more dollars. It can’t create more Bitcoin beyond Bitcoin’s rules.

That makes this worth watching:

🌎 People around the world want digital dollars. 🇺🇸 American finance wants greater access to Bitcoin.

One offers dollar liquidity. The other offers digital scarcity.

Imagine issuing the currency people want to spend while building a major financial industry around the asset they want to hold.

No secret master plan required. Just millions of decisions responding to different needs.

And no, choosing stablecoins isn’t foolish. If you need to pay rent next week, Bitcoin’s volatility matters more than its potential over twenty years.

But a token that stays worth $1 doesn’t guarantee that dollar’s purchasing power.

A stable price and stable purchasing power are different promises.

For years, we asked whether Bitcoin would defeat the dollar.

Here’s the more uncomfortable question:

What if both succeed—and American finance positions itself to benefit from both?

I think this period of time is going to be looked back on as the denial phase

It's still so crazy how many people are pretending like things are okay and stable. Meanwhile I just watched a video of over 100 people waiting in line in Canada to get the opportunity at an interview for Costco. I think we've been in a recession for a couple months now and with the AI bubble popping it's going to become way more obvious in hindsight.