On June 24, the Champlain Towers South condominium building fell, killing at least 24 people. The collapse of this building provides a surprising number of insights into the collapse of a currency.
The following discussion is based on information that is emerging about the incident. Some of the particular details we cite may later prove to be wrong. Our focus is not to try to prescribe remedies for the construction or maintenance industries, but to shed light on problems in our monetary system.
The first take-away from this disaster is that problems can fester for a long time. Years, or even decades, can go by.
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