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David Watson 🥑
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Outside of insurance costs what the economic impact of hundreds of thousands of people being evacuated
This sounds too high. Unlike mosts places in US, most of the value of a CA home in high rent locations like Palisades is in the LAND, not the structure. So if your $5m home burned down, you don't have $5m of damages. You have roughly $2m of damages/cost to rebuild the
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Yes, but what’s the recurrence interval? If this is a “once in a 100 year” kind of event, that’s $500M/year, which is big, but not enormous. Even 10 years is $5B/year. This is important because what we’re talking about is “how much should we invest to mitigate these hazards”.
I assume we can look forward to Trump and a GOP Congress stiffing California on disaster relief since it's electorally useless to them.
Just put it on Gavin Newsom’s tab.
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Joe Weisenthal
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" An initial estimate from AccuWeather Inc. puts the total cost as between $52 billion and $57 billion, making it the most expensive fire event in history" bloomberg.com/news/newslette
Seems like a big number until you realize it’s less than half of what we have given Ukraine since the war with Russia started.
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It’s almost a moot point. Most of what burned is impossible to rebuild under today’s building codes. 18-24 months to pull permits in the best of times and best of circumstances, assuming no bribery.
In real dollar terms, probably not. London, Chicago, Rome, WW2 Tokyo, Berlin, the list goes on. All likely much more expensive in real dollar terms.
What are the odds the next financial downturn is going to be from a climate disaster taking out a chunk of the insurance industry?

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total nonsense, completely insane
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Chief Nerd
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GIBSON: "I have three friends. All three of them had stage four cancer. All three of them don't have cancer right now at all." ROGAN: "What did they take?" GIBSON: "Ivermectin, Fenbendazole"
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A corporation that would rather shut down and lose tens of billions of dollars rather than have the CCP lose control over it, isn’t a corporation. It’s an intelligence operation.
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CBS News
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TikTok says it plans to shut down site unless Supreme Court strikes down law forcing it to sell. cbsn.ws/429s7ni
Every kid in the US learns of the Great Chicago Fire (2,112 acres) in school and how modern building codes & fire depts have made this impossible, yet both the 2023 Lahaina & the current Palisades Fire crossed 17,000 acres - 8x the size! I marked up a map of Chicago to compare.
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