🐤 Billionaire bunkers

🏦 Markets: The most recent inflation indicators sparked a Wall Street selloff, but investors are hoping the next major report offers a more optimistic outlook. The personal consumption expenditures price index, which the Federal Reserve tends to rely on most in its analysis, is set to drop on Thursday.

This week will also bring some new housing numbers as well as earnings reports from companies including Lowe’s, Anheuser-Busch, Salesforce, and Paramount.

🗼 Eiffel reopening: Worker strikes have been big news around the world recently, including at one of the most recognizable landmarks on Earth. The Eiffel Tower in Paris, France, was forced to close for nearly a week after employees went on strike in pursuit of better pay and improved maintenance of the structure. The tower’s operator and workers reached an agreement to provide roughly $412 million in renovations and salary negotiations are underway, allowing the landmark to reopen for tourists on Sunday.

💻 Canadian cyberattack: The Royal Canadian Mounted Police, Canada’s national police force, confirmed late last week that it had been targeted by hackers who perpetrated an “alarming” cyberattack against the agency. Although the breach did not result in any safety or security issues that were immediately identified, authorities are taking the matter seriously and launched a thorough investigation into the identity of the attackers and the potential motive behind the incident.

🦖 Unique fossil: Experts say a recent prehistoric discovery could shed new light on our understanding of the animals that roamed the earth hundreds of millions of years ago. A so-called “dragon” fossil was unearthed in southern China and Scottish scientists are now revealing new details about the finding. It was believed to be a water-dwelling reptile that lived during the Triassic period. The fossilized specimen — officially called the Dinocephalosaurus orientalis — measures more than 16 feet with an unusually long neck.

💥 Houthi attacks: An Iran-backed militant group based in Yemen has been targeting military and commercial vessels in the Red Sea for months, sparking a response from the U.S. and the U.K. In recent days, a spike in such attacks from the Houthi rebels resulted in, among other things, a cargo vessel fire. British and American forces responded in force, hitting a total of at least 18 Houthi targets across eight separate locations on Saturday. The strikes represent just the latest in a flurry of attacks that started on Jan. 12.

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It’s not hard to tell that those ultra-wealthy individuals in the 1% live much different lives than the rest of us (assuming you’re not one of our multi-billionaire chirpers). But there’s a big difference between buying another megayacht or private jet and the latest acquisition of choice for the world’s most elite.

Planning for doomsday

Whether it’s scenarios involving climate change, international turmoil, or an asteroid collision, there’s been a lot of speculation about apocalyptic events in recent years. But those with plenty of cash to spend might be able to ride it out with little noticeable impact on their privileged lifestyle.

And many of them are busy planning for it already.

Bunkers are nothing new, and rich people have been building them as a last resort for generations. But these days, billionaires are reportedly sinking much more money into these projects … not just to make sure those inside are kept safe, but to prevent anyone who’s not on the guest list from getting in.

An insider’s revelation

Al Corbi, who runs a company called Strategically Armored & Fortified Environments, makes these bunkers for wealthy clients. Even though details about individual projects are generally kept under wraps, he provided a glimpse into what sort of features are often integrated into such shelters.

One bunker is on a private island surrounded by a 30-foot-deep lake “skimmed with a lighter-than-water flammable liquid that can transform into a ring of fire” to keep out the hoi polloi if the you-know-what hits the fan.

Then there’s Meta CEO Mark Zuckerberg, who’s spending $270 million on a 5,000-square-foot underground bunker in Hawaii.

So do they know something that we don’t? Maybe. But if they’re planning to escape an anticipated apocalypse, they probably won’t tell us from inside their fortified walls.

It’s an integral natural resource, but thanks to factors like waste and weather, many people are finding their access to clean water limited — particularly in arid regions.

That brings us to Mexico City, the Mexican capital with a footprint that is home to nearly 22 million people.

Harsh restrictions

The lingering threat of water outages has hung over this densely populated city for years, but it’s gotten progressively worse lately … to the point that local officials are starting a countdown to “Day Zero.”

That frightening designation refers to the date at which the region’s water system will become so dry that it won’t be able to provide service to residents. At this rate, Day Zero could come in as few as four months.

For residents like Alejandro Gomez, it’s already here. He’s been living without reliable water access for more than three months and things are getting even worse.

Even though water service companies and authorities are implementing major cuts in water usage, a host of other factors might mean that those steps won’t be sufficient to stave off the growing crisis.

Multiple causes

Mexico City might be in a unique situation for now, but other cities around the globe could find themselves facing similar issues in the not-too-distant future. There are a few reasons that the water crisis is impacting this city so acutely right now, including:

• Geography: Mexico City has higher temperatures and receives less rainfall than most places
• Supply: More than half of the city’s water comes from an aquifer that is so depleted the city actually sinks nearly two feet each year.
• Infrastructure: The remaining water supply is pumped in from remote locations and nearly half is lost through leaks along the way.

Wastewater treatment and conservation efforts could help, but time is running out.

The African nation of Egypt is home to some of Earth’s richest historical landmarks and artifacts, but its present situation is increasingly uncertain. Its economy is in turmoil among skyrocketing inflation and a foreign currency shortfall that has pushed more than half of the population either to or below the poverty line.

A radical solution

In an attempt to deal with the nation’s pressing problems, Prime Minister Mostafa Madbouly confirmed last week that he had entered into an agreement with the United Arab Emirates to move forward with an urban development project in Ras el-Hekma, a town on Egypt’s northwestern coast.

The terms of the deal will see a total investment of about $35 billion over the next two months, which supporters say will help prop up the sagging economy but detractors believe essentially amounts to selling off the land to the UAE.

Madbouly attempted to assuage the concerns of naysayers, noting that Egypt has a 35% stake and will receive profits in accordance with that share. But that hasn’t stopped critics from insisting that local investors should have been given an opportunity to develop the town, thus keeping all of the economic benefits for the struggling nation.

Terms of the deal

Controversial though it may be, the project is nevertheless ambitious. According to the prime minister, the scope will cover roughly 6 and a half square miles and will give the beach town a major facelift.

Some of the planned improvements include:

• New residential districts and tourist areas
• A central financial and business district
• Schools and universities
• A marina for rich visitors to dock their yachts
• Construction of a new international airport

Of course, those currently living in the area will be displaced, but Madbouly said they would be compensated and receive aid in their relocation.