(Almost) everything you need to know about the markets this week.
Always read those labels
Current policy changes have pushed sustainable investment managers to make some tough choices. Investors say that the selloff they expected in green-tech companies never materialized after the election. But they’re also keeping an eye on companies that might be trying to benefit from reduced levels of environmental enforcement.
What it means for you: Financial greenwashing is at an all-time high, with investment products claiming to be socially responsible when they’re anything but. As with anything, use a keen eye when making selections – especially when they impact your future.
Is a shutdown in the works?
After weeks negotiating a tax overhaul that will add $1 trillion to the federal deficit, Washington is now trying to avoid a government shutdown. A plan is in place for a two-week extension on the deadline that pushes it forward to Dec. 22. It’s happened before, so nothing is impossible.
What it means for you: You’ll still get mail, but mortgage approvals will be on hold. The 2013 shutdown delayed the start of Alaskan crabbing season! Visa and passport applications are on hold, and national parks and monuments will close. The government touches many tiny aspects of your day-to-day life and it’s to be determined which of yours will be affected.
One fish, two fish
It’s true: Anything goes in the middle of the ocean. Thankfully, nine nations and the European Union have reached a deal to place the Arctic Ocean off-limits to commercial fishers for at least the next 16 years. From the article, “In the late 1980s, fishing trawlers from Japan, China, and elsewhere crowded the international waters in the Bering Sea between Russia and the United States and removed millions of tons of pollock. By the early 1990s, the pollock population had crashed. It has still not recovered.”
What it means for you: Aquatic life aside, the real question here is “Why now?” This agreement was reached (as an emergency measure, btw) because the Arctic is warming at almost twice the global average rate, causing a change in the size and distribution of fish stocks. As a result, it was the most attractive and unregulated spot in the world for commercial fishermen. At the very least, we can all feel good that someone’s out there looking out for the little guy.