On Thu, 01 Nov 2012 23:37:13 -0400, wrote:

On Thu, 01 Nov 2012 21:28:03 -0400, Home Guy wrote:

Rosie On Sandy: One Economist's Realistic Hurricane Post-Mortem

http://www.zerohedge.com/news/2012-1...ne-post-mortem

Tired of idiotic "expert assessments" how the destruction in the
aftermath of Sandy is good for the economy and "creates wealth" (just
ask these people or these how much wealthier they feel with their house
halfway still underwater, or with not a bite to eat)? Then read the
following brief summary by David Rosenberg what the real and full impact
of Rosie on the US will be:


From my experience in Florida, where we are no strangers to
hurricanes,
they will be open for business next summer, they just might not have
the roller coaster back. Beach people are tough.
snip

Certainly there are thousands of people who are homeless and they have
a big clean up coming but to think that this is going to crush the
economy is just silly.

No doubt there will be serious impact for many. Short term, yes some
will be devastated, won't have the recourses to rebuild, and will have
strong negative results.

Short term: Others are making more money than they ever have working
on recovery. I know a couple of people that will be working as much
as they can for weeks to come. They will be getting paid by insurance
companies and government entities. At the end of the major cleanup,
they will have extra money to buy new cars, new furniture, take a
vacation. That wealth will be spread around.

Long term: We will all pay. Our homeowner's insurance rates will
have to go up, those government handouts will come from taxpayers too.
Sales of appliances, building materials, carpeting and other household
goods will go up a bit too.

The experts will argue the benefits and costs to the economy, but, we
will recover and like any disaster, some people will be harmed, others
will benefit. Hopefully, we will learn where not to build houses too.