[lbo-talk] $100b in losses?

[Gary?]

On 9/2/05, Doug Henwood <dhenwood at panix.com> wrote:
> 
> <
> http://www.marketwatch.com/news/story.asp?siteid=mktw&dist=nwtam&guid=%7B5BAF8843%2D43C6%2D472A%2DAE56%2D50A9D5503B20%7D
> >
> 
> Katrina's economic cost put at $100B
> Flooding, slow response exacerbating losses, RMS says
> While the majority of property damage occurs once flood waters enter
> a structure, prolonged immersion of wooden residential buildings in
> warm polluted water will lead to rapid deterioration requiring an
> increasing proportion of the buildings to be completely replaced, the
> firm warned.

this isn't just warm water it's polluted by raw sewage and industrial waste, 
the whole of the areas under water will need to be cleared . My cynical side 
is telling me this is a huge bonanza for the area, the poor unemployed are 
being shipped out across america, many will not want to return, others will 
not be given the opportunity, The slum areas will be declared unfit and 
raised to the ground. The first rebuilding phase is not going to be low 
income affordable housing.

Gary?
ride si sapis
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