Posted on 09/09/2017 8:07:07 PM PDT by SeekAndFind
Most don’t have flood insurance. The federal program is ‘under water’.
Insurance funds are complex, but they invest the money based upon the odds of having to pay, and the rate of return they need from the investment. On the bad side, this is an industry that has been hurt by low interest rates, because they need a better rate of return than the near zero rates that have been going on for at least a decade now. On the good side, though, hurricanes and tornadoes have been almost nonexistent during the same period. So the insurance industry has done well. A period of low interest rates, and lots of claims, will wipe out the industry eventually.
Funny how these articles were not written during Obongo’s presidency. Everything was golden, right?
And the foreign aid that we have spent on a “hate America” world since 1946 without getting anything in return.
But hey, in Kalifornia we can still afford to build Moonbeam’s train to nowhere /s/
whatever the number is its not cash. Its stocks, its bonds. Depending on that unknown number it will move interest rates higher. Bonds sold mean supply means lower dollar prices means higher rates. Which places like Ill. and Cal. can’t afford.
Next you have the reason the insurers are sitting on huge piles of ‘liquidity’. They have to. For every dollar insured they have to put aside something which are their reserves. The lack of enough reserves is what threatened to put the banks under in 08. Depending again on that unknown number from all the damage the insurers just may not have enough in reserve. We just don’t know at this time.
I was against the bank bailout but i have to admit it served its purpose. I suppose there will be some sort of bailout for insurers, at least the really large ones.
Lastly i think theres one question we have to ask. What would it cost to have to literally rebuild a city. What if thats the outcome for say Tampa? That alone could be every cent those insurers have.
Mining, agriculture, commercial fishing, and timber were largely shut down by legal maneuvers and environmental regulations, while manufacturing was shipped - plants and all - to China and South Korea during the Clinton Admin.
Except for manufacturing, all the other sectors are part of the War on Natural Resource Harvesters which began in the mid-70s but reached a crescendo under Clinton.
Once the US was a net exporter of food, now a net importer. If imported food supply was stopped for some reason, there is not enough food grown in the US to feed the existing population; the list of reasons is long and all have something to do with human stupidity.
I will point out that without an adequate or abundant food supply, what happens in the other sectors is largely irrelevant; a starving population produces little except misery. Manufacturing and mining may create wealth, but agriculture and commercial fishing supply the energy for both and is the foundation for a healthy country.
Agree. Most of NYC and coastal NJ should be depopulated.
“The heart of any economy is mining, manufacturing and agriculture.”
So much denial out there of this Econ 101 fact.
If you look at the graph you might notice that this began with Welfare in 1964, then the coinage act of 1965, then the closing of the Gold Window in 1971 thereby giving us a Pure Fiat Dollar and setting us on a Path of Never ending DEBT and Diminishing value of our Dollar.
“America is poor and in debt because of globalism and “free” trade.”
And sending foreign aid to the entire world and defending Europe and feeding, housing and educating half of Mexico and on and on.
As long as there is ink, paper and printing presses, the government will steal money from you.
Do they have 160 trillion dollars under their collective mattresses?
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