Report from WFLA in Tampa.
Wait, wait, did she say “FEMA has issued over 1.7 million NFIP (National Flood Insurance Protection) policies in Florida, with over 400 BILLION in total coverage…”?
Oh, I’m sure that’ll all be fine.
Below, Kerry Emanuel of MIT.
“In a market economy like ours, risk is communicated through prices – and we’re stopping that from happening.”
“People living in less risky places, typically inland, …are unwittingly subsidizing people who live in more risky places, and in many cases, it’s an up-income wealth transfer.”
“….in many cases, it’s an up-income wealth transfer.”
Pretty much describes the majority of our economy.