Wednesday, August 31, 2005

Katrina's Human/Monetary Costs Skyrocket

One afternoon
Four thousand men died in the water.... here
And five hundred more were thrashing madly
As parasites might in your blood
--Tragically Hip
The mayor said Wednesday that Hurricane Katrina probably killed thousands of people in New Orleans.

That's unreal. ...Meanwhile, the monetary losses are mounting, too.

Hurricane Katrina could cost the insurance industry up to $25 billion in claims, which would make it the costliest storm in the nation's history, according to updated reports Tuesday from risk assessment firms.
My prediction: Warren Buffett will play on everyone's fears to recoup insurance losses by predicting imminent nautural disasters all over the world. Simultaneously.
Buffett issues nuclear alert
Monday May 6, 2002
The Guardian

Warren Buffett, the stock market guru known as the Sage of Omaha, says that businesses and insurers should prepare themselves for a nuclear attack by terrorists.

Mr Buffett's Berkshire Hathaway investment vehicle and other insurers absorbed $70bn (£48bn) of losses from the destruction of the World Trade Centre towers and he believes worse could come.
What a slimeball.

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