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8 comments on We've gone Greek

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zjohnr on October 23, 2005 - 3:58pm Permalink | Subthread | Comments top
What I have not seen explained yet is what happens, name-wise, if we get more than 21 hurricanes in 2006? Do we start at Alpha again or what?

I suppose the odds are still against this happening. But I rather expect that it will.

A related question: How many seasons of exhausting the reserved hurricane name list will it take before folks decide to stop building in the potential path of a hurricane? Or perhaps the question should be how much of this will it take before folks are financially discouraged from building this way?

-john

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GreyZone on October 24, 2005 - 1:03am Permalink | Subthread | Parent | Comments top
As long as the insurance industry can pass these losses off to the taxpayer as extraordinary events, nothing will change. Once the insurance industry is forced to charge appropriate insurance fees for the areas most often impacted, then people will decide that living elsewhere makes more sense.

Free markets only work when the data in the market is accurate and readily available. Government intervention on behalf of insurance companies distorts the message sent to the market (like a painkiller) and since we don't feel sufficient pain, we do it again.

"Hey doc! It hurts when I do this..."

"Then don't do that!"

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8 comments on We've gone Greek

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