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Non-Tech : Kirk's Market Thoughts
COHR 197.65+2.5%Dec 10 3:59 PM EST
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To: Kirk © who wrote (8294)2/25/2020 9:38:04 PM
From: the longhorn1 Recommendation

Recommended By
Winfastorlose

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Hi Kirk,

Hope you are well.

At the rate of 3 mm per year sea level rise there's time, I suppose, before conditions in the mission district reach catastrophe stage. Unfortunately the kinds of folks making these stupid proposals probably don't know what 3 mm/per year means..in terms of real danger.

There is another side to all of this...for many years those who bought properties on coastal areas could insure under an insurance program operated by FEMA. This program, offering modest insurance rates, covered many properties hit by storms on the east coast and Texas mostly. It was 25 billion in debt but got bailed out in '17. It's hugely in debt again. I know this because a family member owned a cottage on the Cape Hatteras shore and operated it as a rental business and told me many times about how he was covered at a cheap rate. This coverage meant you could own beautiful coast level mansions, or very profitable on the beach rental cottages as this was, in hurricane zones and have all risks covered for peanuts, compared to the cost of the property. Given that security blanket, the property values for these places have continued on up and will continue doing so as long as the program stays in place. A few politicians on occasion set their eyes on getting rid of this as yet another example of taxpayers supporting the rich. Of course that hasn't gotten too far. Trump grumbled about it a few times but I doubt is going to make a serious effort any time soon.

So I agree with your point 100%. Was watching the demo debate for a bit but couldn't take it after awhile. Freebeeism and "you owe us" politics run rampant. But I guess I'd like to add that the rich are also not above twisting the federal budget around to help them out if their asses need to be dried out after a flood.

en.wikipedia.org .

lh
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