As the waters recede from ‘Hurricane Harvey,’ the rebuilding efforts begin. It will take quite some time before Houston fully recovers from the tragedy, but recover we will. Hopefully, lessons were learned by a city government that has avoided dealing with the drainage and flooding problems for far too long. Despite hundreds of millions of dollars extracted from the citizenry of Houston via a ‘rain tax,’ the money was absorbed by the profligate spending of repeated feckless Mayors who chose to spend on ‘bike trails,’ ‘green energy.’ and other liberal agendas rather than resolving a critical issue that has plagued Houston for years.
We’ll see. But I won’t hold my breath as Houston continues to follow the shining examples of other fiscally responsible governments like Chicago, Detroit, and others. [sarcasm alert] But that is a story for another day.
Currently, the mainstream story is the ‘economic boost’ which will come from the recovery process. This is the essence of the ‘
Broken Window Fallacy.’
This post was published at Zero Hedge on Sep 1, 2017.
Follow on Twitter
Recent Comments