Heading for a direct hit on Tampa Bay.



RE

Quote from: RE on Oct 09, 2024, 11:03 AMHeading for a direct hit on Tampa Bay.

RE

Looks bad. As with most high impact low probability events, there will be quite a bit of hand wringing when it is all over. Ranging from "once in a lifetime" as opposed to "climate change I TOLD YOU SO". I'm interested in whether or not the insurance industry tanks in Florida, needs bailed out, and then DeSantis has to defend his "we've got the insurance thing under control" statement made recently.

So far the MSM is downplaying the damage from Milton, emphasizing how Tampa dodged the Storm Surge bullet with the eye making landfall south of the bay.  However there are still over 1M without power and gas shortages statewide, despite the fact they had plenty of warning and supposedly pre-positioned their supplies.  I read an estimate of $50B in damage. which given the scope of the hurricane and it's track has to be a serious underestimate.

My bet is  we'll start hearing more complaining around the middle of next week.

https://www.usatoday.com/story/news/nation/2024/10/12/hurricane-milton-updates-saturday/75644638007/

Cleaning up after Milton: Floridians survey billions in damage, many still without power

RE

Anyone who believes these financial products are designed to help victims of natural disasters recover their financial losses is not playing with a full deck.  Insurance policies are designed to make insurance companies rich.  In the event they can't weasel out of paying claims, they go bankrupt.  Besides that, the people who really need this type of protection can't afford the premiums.

Really what is needed is a Global Climate Disaster Relief Fund, which all countries pay into based on their ability to pay.  Then when the disaster hits somewhere, a payout is made to the nation that took the hit, and that Gopbermint disburses it to local goobermints and individuals.

https://www.bloomberg.com/features/2024-jamaica-hurricane-catastrophe-bonds/?utm_source=newsshowcase&utm_medium=gnews&utm_campaign=CDAqEAgAKgcICjDi7PAKMIXduwIwyueiAw&utm_content=rundown&gaa_at=g&gaa_n=AWsEHT6h7WGgNg_c0sS1q67aGS1GKB6G_xJIlbv7a97j0AW2JTTqi3WzfZb3k-5ToWTc0x8Ii634-iJaMHjFcpIAcz32&gaa_ts=670d39a8&gaa_sig=4a02C2yaRsCyFvVyP3VLOZBtW8GLyOWh4aYERxqSfp6IGWylE5GNxd_RnudABrfsXMhOGhjomZrRmFXMoBHebg%3D%3D


The Harsh Reality of 'Hurricane Insurance'


RE

I read the commentary, as opposed to watching the video. Sounded good, in the usual happy doomer way. Nicely scary and all. More interesting than the The Great Dieoff claimed by Ehrlich that didn't happen by the end of the 1980's, certainly more interesting than the global cooling and next ice age stuff popular back in the early 70's. In terms of whatever this decades world ending stuff is, it sounded good. Improved over the nonsense peak oil early 21st century, Mayan calendar, Planet X and Yellowstone going BOOM tomorrow horseshit that seemed so popular in places like the Diner back in the day.

So two thumbs up for the climate changing some more, or again, and humans still not liking it!