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Some claim hurricane damage is spurring economic growth in states ravaged by hurricanes Charley, Frances and Ivan. Looking for a bright side, they miss the point?that hurricanes, like war, destroy the people’s wealth instead of enhancing it.
Repairs have been placed at over $40 billion. Insurance carriers and power companies have been drawing on storm reserves. But this money is being spent to replace and repair, not to create any supposed new wealth.
Moreover, insurance and power companies have spent down their storm reserves, and this money must be replaced. That means higher premiums and power bills to come.
The repair industry will make a fistful of dollars, but it comes from the people. Floridians are drawing on savings to pay steep deductibles?2% of the insured value of their home, some 5%?meaning $5000 to $15,000 out of the bank.
States, counties and cities are spending vast sums to clean up mountains of tree debris, to repair roads and bridges, public buildings and equipment. Residents have already caught a whiff of higher taxes in the winds of the hurricanes.
Storms may be good for Home Depot, cement and plywood makers, and repair companies, but the money is being spent to get back to normal, not to move forward.
King Solomon wrote, “Man does not know his time; like fish caught in a treacherous net, and birds trapped in a snare, so the sons of man are ensnared at an evil time, when it suddenly falls on them” (Ecclesiastes 9:12 NASB).
This seems apropos, concerning Charley, Frances and Ivan.
For positives, let us look away from the economy to the human and spiritual side. Ministries responding to beleaguered Floridians say they’re praying, caring and sharing, exercising their faith to persevere, standing up to the storms of life. For information on relief organizations responding to such national disasters who are praying, caring, and sharing during a crisis log on at www.Christianemergencynetwork.org.
Steve Marr is the former CEO of the fourth largest import-export firm in the U.S., a company which facilitated international trade for many of the largest companies in America. Currently, Steve consults with with businesses and ministries utilizing ancient Biblical principles for success in today’s marketplace. Click here to contact Steve, or visit his website at www.businessproverbs.com.
