tag:blogger.com,1999:blog-32931256.post8038368317573282098..comments2024-03-22T05:20:44.167-07:00Comments on The Disaffected Lib: It's Just Like Flooding, Only Different.The Mound of Soundhttp://www.blogger.com/profile/09023839743772372922noreply@blogger.comBlogger11125tag:blogger.com,1999:blog-32931256.post-27719046461328321932016-05-06T18:52:30.118-07:002016-05-06T18:52:30.118-07:00thanks for explaining the insurance issue so clear...thanks for explaining the insurance issue so clearly MOS, and yes they are in it for profit, and with costs on floods, fires and other climate change calamities, they just will have to cut their losses. So I get how they are stating their position re Climate Change, and folks just don't realize what the outcome of that will be.<br /><br />and Anonymous@1018am...I love your doctor vs gout analogy...its perfect and its why I hate when politicians and spin doctors say during/after a crisis is the wrong time to talk about serious change.<br />and its not like anyone was willing to bother before...debhttps://www.blogger.com/profile/17230156686226794005noreply@blogger.comtag:blogger.com,1999:blog-32931256.post-5615718988196616082016-05-06T12:32:00.408-07:002016-05-06T12:32:00.408-07:00Insurance companies are actuarial. Sort of like bo...Insurance companies are actuarial. Sort of like bookies. They look at all the facts, evaluate prospects and set the line. For insurers, it's premiums. For bookies, it's betting odds.<br /><br />There are little insurers, the outfits we typically buy our policies from, and then there are big insurers, the re-insurers, to which the small guys offload some of their risk parting with some of their premium in exchange.<br /><br />With climate change it's the big ones we need to watch. My fave is Munich-Re. As Trump would say, they're Yuuuge. I wasn't aware of them until I noticed someone there kept visiting this blog.<br /><br />The funny thing is, while our governments are so complacent, "business as usual", these re-insurers are quite open, telling anyone who'll listen how they see their worsening risk and they'll reach a point where you just won't be able to buy insurance for a number of climate change risks any longer.<br /><br />They're in business to make money, not lose their shirts. When the cost of the premium begins to exceed the price homeowners are willing and able to pay, it's over. The big insurers say they'll be out of most forms of insurance before we reach 2C. They're telling us now. Nobody is paying the slightest attention. Amazing.The Mound of Soundhttps://www.blogger.com/profile/09023839743772372922noreply@blogger.comtag:blogger.com,1999:blog-32931256.post-83081234079186025502016-05-06T10:18:27.929-07:002016-05-06T10:18:27.929-07:00WK's position on this seems just incredibly st...WK's position on this seems just incredibly stupid to me as well. And I might as well lump Pierre's offspring in there too. It's not about scoring political points any more than the following.<br /><br />A guy's doctor keeps telling him to change his diet because he has gout and he's likely to lose some toes. Eventually the day comes and the toes are loppped off. The doctor says "see, I told you. Now will you change your diet?". The medico is not trying to score points (or that's at most a minor side motivation); he's trying to save the rest of buddy's foot and his other foot. Apparently now is not the time to talk about this. Have a beer and a steak, dude.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-32931256.post-52829017292037838562016-05-06T10:09:05.010-07:002016-05-06T10:09:05.010-07:00when I read kinsella, all I read is someone trying...when I read kinsella, all I read is someone trying to spin events, not actually decipher them with rationale.( and then I go to...hmmm is this latest commentary for a client:P)<br /><br />and for climate change, Right on the mark Mound, the idea of politicians and industry trying to pass this hot potato off as a one off, or as a common event, miss the whole scientific consensus data...that climate change is here.<br />(regardless of whether spin doctors believe it or not, or want to wait til the ashes are long cooled to discuss)<br />its relevant, its a crisis, and this one "incident" is going to cost 9B ....how many of those type of calamities will Canada be able to afford( Our tax base is pretty darn small)<br /><br />and insurance companies....yeah I hope the homeowners and residents get a pay out, but it wont be any time soon, and it will be a hoop jumping event and if its anything like what the Okanagan residents had to put up with....it may not happen at all.<br />Insurance companies always give themselves a loop hole "out" for these mass events.debhttps://www.blogger.com/profile/17230156686226794005noreply@blogger.comtag:blogger.com,1999:blog-32931256.post-38996610113492267462016-05-06T09:11:24.867-07:002016-05-06T09:11:24.867-07:00@ Boris - The scenario you describe sounds a bit l...@ Boris - The scenario you describe sounds a bit like reconstruction in Florida after a major hurricane. The long term viability of the economic base, bitumen, adds a huge issue to the mix.<br /><br />Alberta is used to property value booms and busts.The evidence is in the law against personal covenants. If you bought your house at the peak of a boom that busts you have the option of simply handing the keys to the banker. You can't be sued for the deficiency on the mortgage. Recreational vehicle dealers are swamped with returns - ATVs, motorcycles, boats, campers. Looking for a sweet deal on a nearly-new pickup? You know where to go and, best of all, no sales tax.The Mound of Soundhttps://www.blogger.com/profile/09023839743772372922noreply@blogger.comtag:blogger.com,1999:blog-32931256.post-15225258493512194622016-05-06T04:31:26.026-07:002016-05-06T04:31:26.026-07:00.. great & highly informative stuff from you....... great & highly informative stuff from you.. I did like an article Colby Cosh did.. as it had a historical slant re Ft McMurray.. FYI i''m the jerk on Twitter that asked if Paulson of the RCMP could let Canada know when the Guns of Ft McMurray would be grabbed.. & as much as I favor shipbuilding.. I also tweeted re Harper Inc dumping a 40 MILLION contract to Seaspan to 'help save money for the government' on Election Day.. as the Harper cabal wuz retreating from the Libtard onslaught.. which side o the Joe Oliver 'surplus' that falls on, we may never know.. prob a 'Cabinet Confidence' to quote Tony Clement.. eh!<br /><br />The fires at Fort McMurray.. OK.. the trashing of Fort McMurray by wildfire are stunning. Suffice it to say, there's extreme irony re the epicenter of Stephen Harper's 'energy superpower' going up in smoke via Mother Nature.. The tar sands afire .. so to speak. The Boreal Forest dances to its own tune.. Kinsella seeks.. whatever.. in the ashesthe salamanderhttps://www.blogger.com/profile/06853337802990122289noreply@blogger.comtag:blogger.com,1999:blog-32931256.post-23682614888456535122016-05-06T02:02:07.862-07:002016-05-06T02:02:07.862-07:00The insurance side will be interesting, both in te...The insurance side will be interesting, both in terms of payouts and who will qualify but also the psychology. People are attached to their homes and place and may very much want to rebuild in place. There will be tremendous political pressure I think to 'rebuild'. <br /><br />When they do try, they will rebuild larger more opulent looking structures on the lots to make up for the loss; fly-by-night builders will take advantage of some and sell people oversized gaudy crap - not that there wasn't a lot of that in Ft Mac already, some structures were condemned as soon as they were built during the boom! <br /><br />On the flipside, the bust has seen a decline in the real estate market there and I'm guessing there's a fair number of people looking at the end of their jobs stuck with grossly over-valued dwellings for which there's no market and the fire will provide a financial exit. That said, I also imagine there might be a comparatively low savings rate as people are mortgaged and credit-lined to the gills: happens when you put younger people and high incomes together. Borishttps://www.blogger.com/profile/00952672409601421466noreply@blogger.comtag:blogger.com,1999:blog-32931256.post-30792676499470494482016-05-05T16:44:07.389-07:002016-05-05T16:44:07.389-07:00There are undoubtedly some residents who won't...<br />There are undoubtedly some residents who won't rebuild but will take their insurance settlements and just leave while the getting is good. I'm sure the extent of destruction overall will be a significant factor.<br /><br />Living in Canada's north has always been economically difficult and often precarious. Fort McMurray brings to the fore the reality that the forest fire threat has grown far worse over the past couple of decades and will be worse still in the decades to come.<br /><br />Extreme forest fire conditions are becoming the new normal in summer months even out to the coast. The trees are still green but do they ever come to look hot and dry and quietly dangerous.<br /><br />There was a time the rainforest was virtually immune to this sort of hazard. That time is past.The Mound of Soundhttps://www.blogger.com/profile/09023839743772372922noreply@blogger.comtag:blogger.com,1999:blog-32931256.post-85611348272328362482016-05-05T16:13:15.693-07:002016-05-05T16:13:15.693-07:00The twitter commentary is full of discussion of re...The twitter commentary is full of discussion of rebuilding. The cost of rebuilding a town that has boomed massively in the past 20 years with the rise in oil prices that has just entered a bust with the collapse in prices? It might well be economically unviable to rebuild or rebuild anywhere near the former size. That's be a political mess. Borishttps://www.blogger.com/profile/00952672409601421466noreply@blogger.comtag:blogger.com,1999:blog-32931256.post-17275859004916830842016-05-05T14:26:08.994-07:002016-05-05T14:26:08.994-07:00Kinsell's become an insufferable asshole. It&#...Kinsell's become an insufferable asshole. It's beyond me why anyone pays any attention at all to him.Danahttps://www.blogger.com/profile/12465953801145126160noreply@blogger.comtag:blogger.com,1999:blog-32931256.post-19375821028686239122016-05-05T14:07:54.664-07:002016-05-05T14:07:54.664-07:00Well said, Mound.Well said, Mound.theohttps://www.blogger.com/profile/02648489093666189741noreply@blogger.com