Quite strange to read climate change as a likely contributor to the disaster there.
Assessments from around the world end with similar causation: likely 95 % of socalled wildfires can be adressed to either carelessness (minor reason) and arsonists.
The patterns repeat. Often destroying agricultural plots to then allow building activities.
The case in L.A. seems specifically delicate. Water reservoirs who were emptied on purpose, extreme cuts into the budget of firefighters (supported by the chief, a DEI-hire who cashes in an annualy 750k USD) following the cuts that reduced the active force, non used Equipment from vehicules to PPE was shipped to Ukraine, a californian governor who established no-fly zones, preventing the use of airplanes to drop water, preventing the clean up of dry Tinder areas a.s.o..
A lot more "coincidences " make it easy to conclude other than just mismanagment and pure incompetence.
Such a widespread congruence, insurers stripping their clients off coverage is another strange observation which looks suspicious.
Read 'Breaking Together' by Jem Bendell. The most important book of the modern era I would say (in my humble opinion). All of this is predicted there. All part of the unravelling of our climate. Not conspiracy theory. Just fact. Dont look up.....
As a California homeowner, I definitely found this food for thought. Premiums on my own homeowner's insurance have almost tripled in the last 5 years, and one policy underwriter quit writing policies here, requiring me to find another. And I live in a pretty low-risk area for wildfires.
BTW, in addition to droughts and wildfires as features of life in California, don't forget earthquakes!
Home prices have to come down. Deportations will help greatly. Boomers need to be told sorry but you can’t have your 7th cash out refi to go on another cruise. Millennials cannot start families at current prices
All can afford higher taxes, higher HOA fees and higher insurance premiums. You just have to let the price mechanism work (the actual purchase price of the home). Cut the home price in half and all these fees become trivial.
What you won't hear, is a gubmint official saying " boy we really flucked up when dropped mortgage rates to 2.5 percent. All comes home to roost in 2026/2027. Enjoy Trumpy.
It's interesting to notice how the NYT and other bloviating parrots, spout this 'climate change' garbage as the catalyst for these spectacular insurance loss events.
The last chart a clear example of this. To the uninitiated, the chart would appear to support the narrative of increasing severity and occurrence of major insured loss events.
However, if you look a bit closer, you will immediately notice the exponential curve rise didn't start moving outside a banded average range until the money printing really went bananas after the 2000 Dot Bomb crash in speculative equities. Add in the ratcheting up of ridiculous 'climate change' narratives, where every storm is considered a 'severe' storm, thus showing up as an 'increase' in the number of events when it really isn't. It is just narrative all designed to separate you from the money in your wallet and the control over your own life.
At that point, the money printers went Brrrr... and never looked back. Then again after the deflationary event in 2008-2009, they supercharged and hit the Red Bull button for about another 10 years or so, then followed by rocket fuel inflation of 2021 and beyond. Combine this currency inflation debacle with completely incompetent environmental management not dealing with excess herbaceous vegetation. Add in decades of fire suppression preventing the cleaning out of this crap every so often, which has been the natural cycle for thousands of years. Then add in for example, Florida and other states allowing building houses in flood zones. All this together with fiscal insanity, and you have this chart showing mind boggling losses.
The takeaway is easy to understand.
People just don't want to see it and accept it because to do so is to accept responsibility and have some accountability for ones apathy and / or activism.
The reason why the insurance losses keep skyrocketing is NOT because of any increase in storm or other weather severity. It is simply because the price of what they are insuring is skyrocketing due to money printing and catastrophically stupid environmental management laws / rules.
It is no more complicated than that, and the crack up boom is not that far away for everyone that lives in the western economies mismanaged and commanded by a group of utterly incompetent Fabian socialists.
Prepare accordingly and assemble your plan B. Better to be a few years too early than five minutes too late.
The last charts, IMHO, need to be adjusted to account for the incredible rise in the “market value” of the properties. Don’t get me wrong, the numbers will likely still be big.
A thought! How about a chart that shows the payouts/ losses in terms of the S&P .
Would be a fascinating endeavour, if conducted with absolute integrity….
Quite strange to read climate change as a likely contributor to the disaster there.
Assessments from around the world end with similar causation: likely 95 % of socalled wildfires can be adressed to either carelessness (minor reason) and arsonists.
The patterns repeat. Often destroying agricultural plots to then allow building activities.
The case in L.A. seems specifically delicate. Water reservoirs who were emptied on purpose, extreme cuts into the budget of firefighters (supported by the chief, a DEI-hire who cashes in an annualy 750k USD) following the cuts that reduced the active force, non used Equipment from vehicules to PPE was shipped to Ukraine, a californian governor who established no-fly zones, preventing the use of airplanes to drop water, preventing the clean up of dry Tinder areas a.s.o..
A lot more "coincidences " make it easy to conclude other than just mismanagment and pure incompetence.
Such a widespread congruence, insurers stripping their clients off coverage is another strange observation which looks suspicious.
Systemic collapse in many financial categories would be beneficial and for me, welcome.
step 1...done " You will own nothing"
step 2...I know it sounds strange...but... " You will be happy"
Happy new year....( the swans are coming )
WEF
Read 'Breaking Together' by Jem Bendell. The most important book of the modern era I would say (in my humble opinion). All of this is predicted there. All part of the unravelling of our climate. Not conspiracy theory. Just fact. Dont look up.....
"Climate" or culture?
Ouch.
Insurance companies are going the way of the buggy whip business. It's always been a scam, but now the scammers are losing money.
The end of the Insurance scam is nigh.
Unless, of course, the government makes owning insurance a law. Oh, that couldn't happen, could it?
As a California homeowner, I definitely found this food for thought. Premiums on my own homeowner's insurance have almost tripled in the last 5 years, and one policy underwriter quit writing policies here, requiring me to find another. And I live in a pretty low-risk area for wildfires.
BTW, in addition to droughts and wildfires as features of life in California, don't forget earthquakes!
They are NOT natural disasters….Khazarian Jews are behind all disasters. Remember…the Covid 19 vaccines are meant to kill you!
Home prices have to come down. Deportations will help greatly. Boomers need to be told sorry but you can’t have your 7th cash out refi to go on another cruise. Millennials cannot start families at current prices
Great article. We are not in too a dissimilar situation inn Australia where the prices in places like Sydney is even more inflated
I suspected as much. I appreciate your analysis. Every financial pundit I follow is sounding alarms.
Bix Weir Engaged with AI to analyze Reggie Middleton's patents on DeFi. Link below.
I say let's trash the Fed and adopt decentralized finance.
If we know what is good for us, we will embrace Veritaseim. If you don't know Veritaseum, you may want to give the patents a look.
Reggie founded DeFi in 2013, patents US11196566, US11895246, JP6813477, JP7204231, JP7533974 & JP7533983
https://youtu.be/FdX9jdjFUhY?si=WpCsTvB0SrgitZb6
All can afford higher taxes, higher HOA fees and higher insurance premiums. You just have to let the price mechanism work (the actual purchase price of the home). Cut the home price in half and all these fees become trivial.
What you won't hear, is a gubmint official saying " boy we really flucked up when dropped mortgage rates to 2.5 percent. All comes home to roost in 2026/2027. Enjoy Trumpy.
Caveat emptor! Knew or should have known that when you live in the Money Empire, the House (sic) Always Wins.
Gambling, like voting, is a risk.
Be careful what you wish for.
It's interesting to notice how the NYT and other bloviating parrots, spout this 'climate change' garbage as the catalyst for these spectacular insurance loss events.
The last chart a clear example of this. To the uninitiated, the chart would appear to support the narrative of increasing severity and occurrence of major insured loss events.
However, if you look a bit closer, you will immediately notice the exponential curve rise didn't start moving outside a banded average range until the money printing really went bananas after the 2000 Dot Bomb crash in speculative equities. Add in the ratcheting up of ridiculous 'climate change' narratives, where every storm is considered a 'severe' storm, thus showing up as an 'increase' in the number of events when it really isn't. It is just narrative all designed to separate you from the money in your wallet and the control over your own life.
At that point, the money printers went Brrrr... and never looked back. Then again after the deflationary event in 2008-2009, they supercharged and hit the Red Bull button for about another 10 years or so, then followed by rocket fuel inflation of 2021 and beyond. Combine this currency inflation debacle with completely incompetent environmental management not dealing with excess herbaceous vegetation. Add in decades of fire suppression preventing the cleaning out of this crap every so often, which has been the natural cycle for thousands of years. Then add in for example, Florida and other states allowing building houses in flood zones. All this together with fiscal insanity, and you have this chart showing mind boggling losses.
The takeaway is easy to understand.
People just don't want to see it and accept it because to do so is to accept responsibility and have some accountability for ones apathy and / or activism.
The reason why the insurance losses keep skyrocketing is NOT because of any increase in storm or other weather severity. It is simply because the price of what they are insuring is skyrocketing due to money printing and catastrophically stupid environmental management laws / rules.
It is no more complicated than that, and the crack up boom is not that far away for everyone that lives in the western economies mismanaged and commanded by a group of utterly incompetent Fabian socialists.
Prepare accordingly and assemble your plan B. Better to be a few years too early than five minutes too late.
Ah, but supposedly climate change causes inflation too. As Biden said recently, "Don't be dead wrong."
Perfectly put. Brilliant analogy of today's stupidity
Excellent common sense perspective, thanks!
John.
Impactful.
The last charts, IMHO, need to be adjusted to account for the incredible rise in the “market value” of the properties. Don’t get me wrong, the numbers will likely still be big.
A thought! How about a chart that shows the payouts/ losses in terms of the S&P .
Would be a fascinating endeavour, if conducted with absolute integrity….
Hear it? That’s the sound of everyone raising their deductible to tens of thousands
That is happening right now