DWW, also I know of an incident where a house is a complete write off but the insurance company will not make any payout, even partial, because some of the structure still “stands”. The engineer argued that the residual structure is unsound.
Meanwhile the owner and her family is suffering further trauma and anxiety at the hands of the insurance company two full months after the hurricane. Without a job and without a house they were looking to the insurance money to restart their lives.
I always felt it would take a Dorian II type event to collapse our inbred financial system. But without adequate reinsurance bank losses which will appear in about 6 months maybe higher due to insurance company failures.
RBC’s pull out from Fidelity, CIBC intention to pull out from First Caribbean etc removes the deep pocket Canadian backers. You would have to be blind not to see that rising sea level and stronger hurricanes caused by global warming make Bahamian real estate worthless by 2050.
Where there is no vision the ppl perish (Proverbs 29:18).
Which why we need to stop construction of these monolithic energy hoggish tourism edifices (Atlantis, Baha Mar, Lighthouse Point etc.). These hotels have no regard for climate change. The hotels eat up 80% of the energy produced by BEC and the Bahamian public subsidizes BEC to the tune of debts of $550 million (according to the Citibank SPV) now being raised on Wall Street for BEC for the poor Bahamian ppl with $100 light bills to pay.
What happens when a Cat 6 hits Nassau in the next 20 years and these hotels and cruise ports are flattened?
We can theoretically evacuate Marsh Habour, but how do you feed 250,000 in Nassau?
Myer’s fatalism coupled with FNM/Turnquest balance the budget and tax the ppl at any cost voodoo economics only exasperates the impact of this tragedy.
Any economist with any sense will tell you that insurance receipts, the $100 emergency loan, massive amount of US dollars coming back into Abaco (from Bahamians and foreigners) for the rebuild and donations will offset tourism inputs.
Stop underestimating the resiliency of the Bahamian spirit. We will rebuild despite crippling Government taxes, incompetence and market stifling beauracy. GDP will recover.
Thanks Zakary. My only regret is that I did not sell my home in Nassau and just leave. Sitting here I feel like a sitting duck for the next "super hurricane" to hit Nassau in the next 20 years.
We all know it will happen. But all we can say is that thank God it did not hit Nassau. Well at somepoint Nassau's luck will run out. Its just a matter of time.
I noticed that ppl are not blogging as much as they were a couple of years ago. Years ago idiotic comments from politicians such as those above would have been severely criticized by at least a dozen comments. Now only 3?
I suspect everyone is disillusioned and feels that their comments are falling on deaf ears. Or maybe ppl just don't have any electricity or internet.
My 2 cents:
1. No planes are flying in or out of Nassau Airport. Check out flightaware.com and punch in NAS.
2. Yes, Mr. D'Agular, the world believes the Bahamas is devastated and they are not coming to Nassau either (at the moment). But did you ever consider that BPL is destroying our tourist product? Did you ever consider that ppl will not come to Nassau due to online comments about the electricity?
3. Mr. D'Agular is anyone taking a step back and questioning the viability of the Grand Lucayan Hotel due to the increasing impact of climate change on Grand Bahama? Scientist have stated that the warming oceans will create even greater "super hurricanes" with speeds of 200 mph and flooding approaching 50 feet.
4. Minnis, why rebuild Freeport or Grand Bahama when in another 20 years we will experience flooding and winds of biblical proportions? Why are we not relocating communities to higher ground or other islands rather than rebuilding in low lying areas...again and again?
"Be not rash with thy mouth, and let not thine heart be hasty to utter any thing before God: for God is in heaven, and thou upon earth: therefore let thy words be few." Ecclesiastes 5:2.
Turnquest booast and brags about all he has accomplished with the deficit. After punishing the ppl with 12% VAT and no light. God is upset.
observer2 says...
DWW, also I know of an incident where a house is a complete write off but the insurance company will not make any payout, even partial, because some of the structure still “stands”. The engineer argued that the residual structure is unsound.
Meanwhile the owner and her family is suffering further trauma and anxiety at the hands of the insurance company two full months after the hurricane. Without a job and without a house they were looking to the insurance money to restart their lives.
Meanwhile the regular is nowhere to be scene.
On Insurers suffer 'over $1bn' Dorian losses
Posted 4 November 2019, 9:15 a.m. Suggest removal
observer2 says...
Very enlightening Well Muddo Take Sick!
I always felt it would take a Dorian II type event to collapse our inbred financial system. But without adequate reinsurance bank losses which will appear in about 6 months maybe higher due to insurance company failures.
RBC’s pull out from Fidelity, CIBC intention to pull out from First Caribbean etc removes the deep pocket Canadian backers. You would have to be blind not to see that rising sea level and stronger hurricanes caused by global warming make Bahamian real estate worthless by 2050.
On Insurers suffer 'over $1bn' Dorian losses
Posted 3 November 2019, 5:32 a.m. Suggest removal
observer2 says...
So what will happen to da new Portsbdem, Atlantis and Baha Mar when da next cat 6 hit Nassau wit 200 mph in da next 10 years??? Better ask Brave.
What’s NEMA saying bout 250,000 Nassau Evac during next cat 6 in 2028? Brave
How BEC ga keep da Port light on ?
On Carnival affirms $100m cruise port commitment
Posted 10 September 2019, 4:59 p.m. Suggest removal
observer2 says...
Absolutely correct Well-mudda,
Where there is no vision the ppl perish (Proverbs 29:18).
Which why we need to stop construction of these monolithic energy hoggish tourism edifices (Atlantis, Baha Mar, Lighthouse Point etc.). These hotels have no regard for climate change. The hotels eat up 80% of the energy produced by BEC and the Bahamian public subsidizes BEC to the tune of debts of $550 million (according to the Citibank SPV) now being raised on Wall Street for BEC for the poor Bahamian ppl with $100 light bills to pay.
What happens when a Cat 6 hits Nassau in the next 20 years and these hotels and cruise ports are flattened?
We can theoretically evacuate Marsh Habour, but how do you feed 250,000 in Nassau?
On Dorian: Economy bound to take ‘negative hit’ on GDP
Posted 5 September 2019, 9:52 a.m. Suggest removal
observer2 says...
Yeah, like Hot Mix and BPL.
Remember dem?
On PM: 20 confirmed dead
Posted 5 September 2019, 9:15 a.m. Suggest removal
observer2 says...
“We will rebuild better and stronger” the prime minister added.
How is this possible with the same Town Planning and building code regulators who watched “the Mudd” flourish for the last 50 years.
You can’t expect a different outcome with the same inputs.
On PM: 20 confirmed dead
Posted 5 September 2019, 8:08 a.m. Suggest removal
observer2 says...
Myer’s fatalism coupled with FNM/Turnquest balance the budget and tax the ppl at any cost voodoo economics only exasperates the impact of this tragedy.
Any economist with any sense will tell you that insurance receipts, the $100 emergency loan, massive amount of US dollars coming back into Abaco (from Bahamians and foreigners) for the rebuild and donations will offset tourism inputs.
Stop underestimating the resiliency of the Bahamian spirit. We will rebuild despite crippling Government taxes, incompetence and market stifling beauracy. GDP will recover.
On Dorian: Economy bound to take ‘negative hit’ on GDP
Posted 5 September 2019, 7:46 a.m. Suggest removal
observer2 says...
Thanks Zakary. My only regret is that I did not sell my home in Nassau and just leave. Sitting here I feel like a sitting duck for the next "super hurricane" to hit Nassau in the next 20 years.
We all know it will happen. But all we can say is that thank God it did not hit Nassau. Well at somepoint Nassau's luck will run out. Its just a matter of time.
On D'Aguilar fears blow to tourism from hurricane
Posted 3 September 2019, 9:01 a.m. Suggest removal
observer2 says...
Hi Bloggers
I noticed that ppl are not blogging as much as they were a couple of years ago. Years ago idiotic comments from politicians such as those above would have been severely criticized by at least a dozen comments. Now only 3?
I suspect everyone is disillusioned and feels that their comments are falling on deaf ears. Or maybe ppl just don't have any electricity or internet.
My 2 cents:
1. No planes are flying in or out of Nassau Airport. Check out flightaware.com and punch in NAS.
2. Yes, Mr. D'Agular, the world believes the Bahamas is devastated and they are not coming to Nassau either (at the moment). But did you ever consider that BPL is destroying our tourist product? Did you ever consider that ppl will not come to Nassau due to online comments about the electricity?
3. Mr. D'Agular is anyone taking a step back and questioning the viability of the Grand Lucayan Hotel due to the increasing impact of climate change on Grand Bahama? Scientist have stated that the warming oceans will create even greater "super hurricanes" with speeds of 200 mph and flooding approaching 50 feet.
https://www.yaleclimateconnections.org/…
4. Minnis, why rebuild Freeport or Grand Bahama when in another 20 years we will experience flooding and winds of biblical proportions? Why are we not relocating communities to higher ground or other islands rather than rebuilding in low lying areas...again and again?
On D'Aguilar fears blow to tourism from hurricane
Posted 3 September 2019, 8:20 a.m. Suggest removal
observer2 says...
"Be not rash with thy mouth, and let not thine heart be hasty to utter any thing before God: for God is in heaven, and thou upon earth: therefore let thy words be few." Ecclesiastes 5:2.
Turnquest booast and brags about all he has accomplished with the deficit. After punishing the ppl with 12% VAT and no light. God is upset.
On Turnquest proclaims lowest deficit level in a decade
Posted 2 September 2019, 1:32 p.m. Suggest removal