hurricane

Huricane Irene largely spared the East Coast’s larger cities from the worst of its wrath. It still cut off power to about 4 million people. And it cost 25 lives. But there is a sunny side to the billions of dollars of destruction! Politico’s Josh Boak quotes the University of Maryland’s Peter Morici:

Morici said there could be some economic growth at the end of this year and the beginning of next year, because with the rebuilding, “largely what we’re going to get is a private-sector stimulus package.”

Morici fell for the broken window fallacy; if a kid (or a hurricane) breaks a window, it creates a job for the repairman. He then spends his wages on other things, and the economy gets a boost. Why not break every window in the entire country, then? Think how much wealthier everyone would be if only a hurricane would come along and level the entire nation!

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Myron has already pointed out how most of what the President claimed were the threats from global warming are exaggerated.  Here’s the data to back that up.

“…[T]he threat from climate change is serious, it is urgent, and it is growing.”  Reality: global mean temperatures increased slightly from 1977 to 2000.  Temperatures have been flat since then.

“Rising sea levels threaten every coastline.”  Reality: sea levels have been rising on and off since the end of the last ice age 13,000 years ago.  The rate of sea level rise has not increased in recent decades over the nineteenth and twentieth century average.

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“More powerful storms and floods threaten every continent.”  Reality: there is no upward global trend in storms or floods.

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“More frequent drought and crop failures breed hunger and conflict in places where hunger and conflict already thrive.”  Reality: there is no upward global trend in major droughts.  Reversals in large-scale cycles have meant that the southward march of the Sahara Desert into the Sahel has been reversed in recent years and the Sahara is now shrinking.

“On shrinking islands, families are already being forced to flee their homes as climate refugees.”  Reality: some Pacific islanders may want to emigrate to New Zealand or Australia and are claiming that their islands are disappearing as the reason, but shrinkage has been minimal in recent decades because sea level rise has been minimal.

droughts-atollsCharts from SPPI’s Monthly CO2 Reports and from Indur Goklany, “Death and Death Rates Due to Extreme Weather Events: Global and U.S. Trends, 1900–2006,” 2007.

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It seems that the state of Florida has overpromised insurance coverage to its citizens in the case of a catastrophic storm, and now is coming to Congress for a bailout, lest a major storm bankrupt the state. Naturally, we had something to say about this in a press release today. The director of CEI’s Florida office, Christian Cámara:

Reliance on a Federal bailout as official state policy is reckless at best. Instead of lobbying Washington politicians for money, Commissioner [Kevin] McCarty and Governor Charlie Crist should return to Tallahassee and work together with the legislature to restore a healthy, competitive insurance environment to ensure that Florida is able to weather the aftermath of a storm. Taxpayers should not be forced to bailout neither Florida nor the politicians that have placed the state one storm away from economic meltdown.

Wise words if I do say so myself. Chief insurance guru and Senior Fellow Eli Lehrer also chimed in:

This is a really, really bad idea. We’ve already done far too many bailouts of private companies. State governments – particularly ones that make bad decisions – don’t need bailouts as well. Congress should say “No” to Kevin McCarty.

Here’s to hoping there’s at least one bailout that fails to get funding this session.

Check out me and Richard Morrison doing another episode of CEI’s weekly podcast, Liberty Week.  This week we cover:

  • The “meltdown” on Wall Street
  • Hurricane Ike
  • Nancy Pelosi’s opposition to offshore drilling
  • The War on Bottled Waterâ„¢
  • A breakthrough for Paralympic athletes

Also, this week we have Radu Burnete (our Romanian intern) joining us to consider how European Union rules have made short cucumbers, uncurved bananas and unpasteurized cheese crimes against the people.