Sick Economists Gush About Katrina's Benefits

[IDemo]

Economists have largely gained my disdain and disregard for their Flat-Earthed view on a potentially even greater disaster than Katrina, Peak Oil. But the following comments, delivered in the midst of a day of horrific suffering and loss of life, are inexcusably sick:

"On a personal level, the loss of life is tragic. But looking at the economic impact, our research shows that hurricanes tend to become god-given work projects," Woodward said.

"Disasters are good for the economy", he said. Within six months, he expects to see a construction boom and job creation offset the short-term negatives such as loss of business activity, loss of wealth in the form of housing, infrastructure, agriculture and tourism revenue in the Gulf Coast states.

and, "Natural disasters bring in a lot of money from the outside to help in the rebuilding," he said. "The rebuilding boom will generate incomes. Insurance money and federal relief money will pour in. This happened very quickly in Florida last year," Woodward said. "Give it a year. We'll see positive economy results maybe by the third-quarter of next year."

[cdsilv]

1. ..well he is right....

for those sectors of the economy which supply the rebuilding supplies.

I worked for a company that made nylon carpet fibres in '97 when the
Mississipi floods occurred - we had a couple of record years as the
rebuilding commenced. But think of the cost in lives and suffering.

I would have forgone those bonuses (1K to 3K), to keep the floods from happening.

Many of my customers supply the housing industry and the auto industry. I would expect they'll reap windfalls from this disaster.

But I don't think any of them wished this on anyone.

[IDemo]

7. It's all-American for Business to profit under difficult circumstances

But to even discuss the business prospects of a tragedy, let alone the profit, while havoc is occurring (and will for the foreseeable future) is pathetic and inappropriate.

[Triana]

2. This mentality runs this country...we're all bottom-line fodder

..for corporations. Period. The lives and livlihoods lost there, not to mention the culture, history, and architecture can never be restored. One can't put a dollar value on those - and for the corprats - that simply makes them invisible.

NO and Louisiana is a poor, poor state. I doubt this disaster will ultimately result in better lives for any of those folks. They'll be lied to, ripped off, and taken advantage of by every swindler who can get near the place soon, and the economy in the local area will be long in recovering - if it ever does.

But tell the GEs, Halliburtons, and George bu$hits that. Their eyes just glaze over with fat, disinterested stares because all they see is dollar signs.

The mercantile class glombs off the backs of the working class, middle class, and the poor. It has always been thus. They are PARASITES.

[despairing optimist]

3. Great news: all those bricks and stones to be thrown at adulterers and

fornicators will now be commandeered for the rebuilding effort. God works and moves assets in mysterious ways.

[proud2BlibKansan]

4. This kind of crap is the reason

I can never ever be a Republican.

[RUMMYisFROSTED]

5. I've got an idea!

How about man-given work projects? :think:

All the benefits, minus the suffering. And, golly gee, many of those PW programs would help to prevent suffering in the first place.

[bread_and_roses]

15. What a concept, eh? good one. n/t

[China_cat]

6. And the money goes back to the outside.

90% of the rebuilding here after Hugo was done by out of state companies that brought in their own workers, only employing enough local people to make a show. Locals were also paid less.

[Yo_Mama_Been_Loggin]

8. Fucking vultures

Tell that to those who lost loved ones.

:argh:

[OffWithTheirHeads]

9. Welcome to Capitalism!

If these people really gave a shit, oil companies would operate at minimum profit, "for the good of the country". Think that will happen?

Unfortunately, Capitalism is very much like the game Monopoly. One person ends up with everything and everyone else ends up broke! You can see this happening in our society today. There simply must be another answer.

[Kurovski]

10. From where comes this quote and who is "Woodward"?

[IDemo]

13. Prof. Doug Woodward

Prof. Doug Woodward, with the Division of Research at the Moore School of Business at the University of South Carolina

[Kurovski]

16. Thanks, IDemo. n/t

[allalone]

11. gee, except for all the dead people, this is really a great break.

sorry, don''t know how to put in the sarcasm thingy.

[Lone_Star_Dem]

12. Yes, it will create work, looking at this from a strictly economical side

It will also create inflated prices in housing materials and fuel. Both of these will hit the smaller builders hard. I believe it was also stated that this would impact the export of grain to other countries, thus having an adverse affect on farmers as well.

This doesn't begin to address the added debt it will inflict on our already inflated deficit.

Don't pop the cork on the champagne just yet Mr Economist. :mad:

[Nikki Stone 1]

14. Work paid for by the taxpayer

....

[Lone_Star_Dem]

18. Thus the added debt to our inflated deficit

But, hey, who cares, right? :mad:

[Ilsa]

17. Did they bother discussing how much taxes need to be raised

in order to PAY for the revitalization? Or how much insurance companies are going to jack up premiums, if they survive at all? What a stupid, shortsighted perspective these greedy goons have.