Skip to comments.Post-storm construction hiring may aid US economy
Posted on 11/04/2012 11:12:52 AM PST by mdittmar
Hiring in the long-depressed U.S. construction industry will get a boost from the rebuilding that will follow Superstorm Sandy. Those jobs, in turn, could raise economic growth, analysts say.
The modest lift to the economy is expected to come in the first months of 2013. Construction firms, contractors and local governments will hire to rebuild or renovate homes, buildings, roads and bridges that were damaged or destroyed.
"This is going to be a net positive, particularly in the mid-Atlantic," said Sophia Koropeckyj, managing director Moody's Economy.com.
Sandy inflicted up to $50 billion in estimated losses from property damage, lost business and additional living costs. The damage was concentrated near the coastlines of New Jersey and New York City.
(Excerpt) Read more at news.yahoo.com ...
America needs more hurricanes. Help keep “global warming” alive! These people are all on drugs.
Teh stupid is strong in this one.
OMG...these idiots....just like Pelosi saying FOOD STAMPS are good for the ECONOMY....
Since the gummint is paying for all this, it is a net zero for the economy.
One hand just taking from the other.
Very few people with a few notable exceptions like Rush Limbaugh, actually understand how a free market driven economy really operates. To the author of this article, a vast tsunami of insurance claims, shady contractors with armies of illegals, labor unions, and government handouts obtained through high taxes will “turn around” the economy. You’d have to be on crack to believe such an outlandish thing.
The Obama campaign will paraphrase Mitt Romney and say, “For love of country, break a window.”
They think obama may eventually be blamed for the hurricane. So, his worshippers can say it was a good thing.
Even true it would only help local unions as they drive others away!
Broken Window Fallacy headline, these folks are economic fools.
If you don’t know what I’m talking about, the following is required reading:
That Which is Seen, and That Which is Not Seen
by Frederic Bastiat, 1850
Why wait for hurricanes? Why not knock down 10% of our commercial and residential structures every year? That would creasat millions of jobs. Bulldozers are much more predictable than the weather. /s
Raise your hand if you believe that loss is actually a plus!
Any demonrats here? I bet you dumba$$ demonrat lurkers got your hands in the air!
The broken window fallacy is strong with these two.
Ya want an econ discussion? Listen to Levin.
An order of magnitude higher, IMHO, would be Milton Friedman types. I recently viewed "Free To Choose"... excellent material, and our society would be well served to review what he had to say.
Thank you for the timely reminder. Nothing learned in the last 160+ years. I taught Hazlitt’s version of this in my economics classes for years.
I love Levin, especially when it comes to the Constitution and political philosophy, but when it comes to economics Stuart Varney or Larry Kudlow are better.
Walter Williams explained it best, but I can say this is pure B.S.
These reporters are such ignoramus economic idiots.
Any dollars spent on construction will be coming out of NOT buying other stuff which would have been bought otherwise.
If hurricanes improve the economy why not push for more “climate change”....yeah baby burn more fossil fuels! Such idiocy!!
There are only 4 events which improve economy:
1. Mining: includes extraction of minerals, fuels, etc.
2. Manufacturing: This event enhances value of raw materials into finished goods, creating additional wealth. Also includes power plants, house & building construction etc.
3. Agriculture: Seeds & fertilizer are lot cheaper than the harvested products. This also includes poultry, fish & animal farming. Less input cost, more output value.
4. Creation of intellectual items & products: This includes such items as software, new product development etc. which all have a demand in the market place. Invention of “Windows” operating system for PC’s is a good example. This type of activity increases productivity, which creates more wealth.
All service activities such as retailing, lawyers, accountants, repairing of hurricane damaged properties etc do not create additional wealth. These are all dependent and users of existing wealth. Without additional wealth creation there is no increase in economy.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.