[TheForge] Is anyone on-line ? OT:

[Ries Niemi]

taxpayer money comes in many forms.

for instance, the federal government subsidizes flood insurance. so virtually every house in a flood zone that has a mortgage, which is practically all of them, only has one because taxpayer money is making it possible.
otherwise, banks would not lend on homes in flood zones.

then, there is the army corps of engineers- which spends billions every year ($4 billion last year) on lots of flood and tide and storm mitigation projects that make it possible for people to build, and rebuild, in places like Seaside.

and taxpayer money will of course go to direct aid to storm victims- you get a sweatshirt and free diapers if you live in Seaside, or downtown Hoboken.
and taxpayer money will go to cleanup, to new sand, to fixing the bridges, roads, and utilities.

Of course taxpayers subsidize wealthy neighborhoods more than poor ones.

ries


On Nov 6, 2012, at 7:30 AM, Andrew Vida wrote:

> 
> 
> On 11/6/2012 5:56 AM, Bruce . wrote:
>> For years we've been saying about folks on those barrier islands, "One
>> good hurricane..."  Well, Sandy was pretty good.  Most of the damage
>> was to people on the barrier islands.  I am writing to the governor
>> (who actually hung around for the storm this time -- him and his
>> Lt.Gov. too!  Imagine that!) that the state should buy out the
>> destroyed properties (at land value -- these people can collect on
>> their insurance for the rest) and turn it back into untenanted barrier
>> islands.  Then take some FEMA money and settle these folks on higher
>> ground.  It's a situation analogous to New Orleans.  If you build in
>> Nature's path, you're going to get wiped out sooner or later.
> 
> Taxpayer money to bail out the landowners in Seaside?  I'm sure that 
> would go over like a lead balloon.  You're talking about several 
> billions in real estate at the very least.  Then what?  Remediation of 
> the detritus would be billions more.  Billions more to rebuild the 
> coastline... perhaps tens of billions.  Remember when they redid the 
> beaches at Asbury Park and Manasquan?  Those two miserable stretches 
> totaling what... MAYBE 2.5 miles was over $250 million as I recall.  I 
> used to go out and watch them pump the sand... which was pretty 
> impressive, but what a waste of money.  Two years later the beaches were 
> back to their eroded states.  Hello.  To rebuild what I would bet is at 
> least 50 to 70 miles of beach would be lunacy, but I'd bet that is 
> exactly what they would propose.  The glazier's fallacy on steroids 
> running amok in NJ. =8^o
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