Thursday, September 08, 2005

Katrina

So I am really behind on the whole Katrina "thing". Not sure how many dead or how widespread the damage is, nor who should have responded when. I just know this: FEMA should probably not be giving disaster relief to those without flood insurance. Why would I say such a thing (besides being a libertarian)? Well, because according to this article from a few years ago, the odds were about 1 in 10 that this would happen during the life of a 30 year mortgage. Thus, homeowners and those who gave home loans should have known of this risk and it should have been included in the budgets. One in Ten!! That means if flood insurance would cost over 30 years less than 10% of your homes value, you must get it. And consider this, even if FEMA gives money to rebuild the homes, it will take forever and the homes will be worth just a fraction of what they were due to the economic impact.

What I think is impossible for any government agency to replace is the history destoryed. Not just the historic neighborhoods, the like of which seen nowhere else in this country, but all the way down to the family photos, that old tree where those kids played all summer long for summers on end, and the history that could have been in the future.

Ceste la vie Marti Gras. ( I have no idea what Ceste la vie means, but it sounds familiar)

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Anonymous Anonymous said...

What about victims who were not homeowners? Should they be left out too?

1:47 PM  

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