Tuesday, March 28, 2006

Big Quake with more to come? Time to Move.

Today, I was wondering how the folks in the Gulf Coast and South Atlantic are feeling about the 2006 hurricane season and found this article from the Palm Beach Post. The most standout paragraph?

At least in the number of storms, nobody expects a repeat of last year's record 28, which went six names deep into the Greek alphabet. Then again, none of the experts predicted it last year.

And as deadly as 2005 was, meteorologists point to all the ways it could be worse this time around: No hurricane last year, not even Katrina, struck the U.S. coast at Category 5 fury. No large U.S. city took the full force of a major storm. Large stretches of the nation's densely developed East Coast have gone unscathed for decades, including New York, Philadelphia and Washington.


And we're spending how many billions to rebuild? This makes so little sense. If there's a big earthquake here tomorrow, and we knew fairly well that more were to come, why in the world would I try to rebuild here?

I suspect that we will see most insurers stop covering the most common losses in natural disaster prone areas, or simply making the coverage so unaffordable that the government eats it all - and how long can that go on? I certainly don't think it's prudent for any of my tax dollars to be spent to rebuild an area that's pretty certain to see more major natural disasters, in a hurricane season now less than 2 months away.

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