Florida Coast in Trouble? 'Complete Globalist Propaganda' - SKG

Vince Lanci's picture

We Are All Going to Die From Coastal Flooding*

* Those having net worths of $10MM or more need not read.

via Soren K Group and Marketslant

The opinion piece at bottom is by Dr. Joe Romm, a Founding Editor of Climate Progress, “the indispensable blog,” as NY Times columnist Tom Friedman describes it. We thoroughly enjoyed reading it. And as writers with trading DNA we wanted to know where the trade was. 

Long OJ? Long potable water? Short insurance companies, and other ideas were bounced around. All had risks we were uncomfortable with. Finally one of our group, "Bon Scott" summed it up perfectly in only the way he can. Implicitly, Buy infrastructure companies.

From Soren K. Group contributor "Bon": 

Complete, total, globalist propaganda.

In the USA coastal property values are going nowhere but up. Period. Humans by nature want to be around water. Rich people like to be around other (white) rich people. Who do you think supports political campaigns?.... Beachfront property owners that's who!

Flooding... Hire mexicans that no longer have landscaping jobs due to suburban collapse to truck in more dirt and pave it. Raise homes, raise roads (it's happening now in NJ). Water? Pipe it in from the mountains all the way to Key fucking West. MOAR jobs! Print the fucking fiat to pay for it. Tax the world.

The result is like everything else we say here. The middle class, what remains of them, will have more financial burden to shoulder. The rich build walls, and  the poor are cared for.

OH NO GLOBAL WARMING

Examples of Bon's point. Bill Gates bought a stake in the Four Seasons and its Caribean property in 2015. Think he is worried about his island sinking? Trump owns a mansion on St. Maarten bought in 2013 last we checked. Think he's worried? Gates also owns property in Palm Beach bought in 2013. Tech billionaire Larry Ellison has bought 98 per cent of Hawaiian island Lanai. Indian Creek Village in Miami's Biscayne Bay may be on a tiny island, but the neighborhood of just 86 residents is home to some of the biggest A-listers and some of America's richest business moguls.

Some of these purchases are basically "safe rooms" for the rich in case of civilization breakdown. Climate change isn't a deterrent. If it were they'd be buying mountain homes only. 

Capitalism Finds a way, Workers Will Pay

The author must be kidding us if he thinks a climate catastrophe awaits Trump. This is just another justification for Trump to ramp up infrastructure and thus GDP. Does he think we will just watch things sink? By his own admission it is in "slow- motion". China builds synthetic islands in the South Pacific. Romm, the academic globalist doesn't think the rich voting  owners in coastal Fla will get their way through walls, levies, and tax breaks to protect their property? And Romm doesn't think that it will be a tax increase on the rest of us as a Patriotic Duty? 

  • The rich will be on stilts. You will pay for it. in NJ each home wrecked post Sandy got a 40k tax credit to raise the house. Who paid for that? The wealthy that are leaving NJ in droves now.
  • The insurance companies will be bailed out- You will pay for it. You already did 5x in the last 30 years.
  • The poor will be taken care of (as they should be)- You will pay for it, as  the impoverished group of baby boomers swell the ranks.

You will pay with higher taxes, lower purchasing power, an inability to access global competitors for pricing. your children will pay for it by becoming indentured servants to the Government when they cannot pay their student loans back. we know. We've seen it in Argentina first hand. The best educated, lowest paid MBAs in the Americas.

Mnuchin's tax statement yesterday basically implied the intention  to remove tax cuts at the middle class level by removing home owner tax deductions.  The working class is taken for granted. Even Ghandi had a point where he'd take up arms. Wake up people. Why aren't you mad? 

That said, enjoy the piece below. -Soren K. Group

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Climate change poses ‘nightmare scenario’ for Florida coast, Bloomberg warns

via Joe Romm and Thinkprogess

Donald Trump’s presidency may make this future for South Florida and “Miami Island” unstoppable. CREDIT: Climate Central

“Pessimists selling to optimists.” That’s how one former Florida coastal property owner describes the current state of the market in a must-read Bloomberg story.

Right now, science and politics don’t favor the optimists. The disintegration of the Greenland and Antarctic ice sheets is speeding up, providing increasing evidence we are headed for the worst-case scenario of sea level rise?—?three to six feet (or more) by 2100.

The impacts are already visible in South Florida. “Tidal flooding now predictably drenches inland streets, even when the sun is out, thanks to the region’s porous limestone bedrock,” explains Bloomberg. “Saltwater is creeping into the drinking water supply.”

At the same time, President Trump is working to thwart both domestic and international climate action while slashing funding for coastal adaptation and monitoring. E&E News reported earlier this month that the EPA has already “disbanded its climate change adaptation program” and reassigned all the workers.

Faster sea level rise and less adaptation means the day of reckoning is nigh. Dan Kipnis, chair of Miami Beach’s Marine and Waterfront Protection Authority?—?who has failed to find a buyer for his Miami Beach home for nearly a year?—?told Bloomberg, “Nobody thinks it’s coming as fast as it is.”

But this is not just South Florida’s problem. The entire country is facing a trillion-dollar bubble in coastal property values. This Hindenburg has been held aloft by U.S. taxpayers in the form of the National Flood Insurance Program.

A 2014 Reuters analysis of this “slow-motion disaster” calculated there’s almost $1.25 trillion in coastal property being covered at below-market rates.

?

CREDIT: Reuters

When will the bubble burst? As I’ve written for years, property values will crash when a large fraction of the financial community?—?mortgage bankers and opinion-makers, along with a smaller but substantial fraction of the public?—?realize that it is too late for us to stop catastrophic sea level rise.

When sellers outnumber buyers, and banks become reluctant to write 30-year mortgages for doomed property, and insurance rates soar, then the coastal property bubble will slow, peak, and crash.

The devaluation process had begun even before Trump’s election reduced the chances we would act in time to prevent catastrophic climate change. The New York Times reported last fall that “nationally, median home prices in areas at high risk for flooding are still 4.4 percent below what they were 10 years ago, while home prices in low-risk areas are up 29.7 percent over the same period.”

Sean Becketti, the chief economist for mortgage giant Freddie Mac, warned a year ago that values could plunge if sellers start a stampede. “Some residents will cash out early and suffer minimal losses,” he said. “Others will not be so lucky.”

As this week’s Bloomberg piece puts it, “Demand and financing could collapse before the sea consumes a single house.”

So here’s a question for owners of coastal property?—?and the financial institutions that back them?—?as they watch team Trump keep his coastal-destroying promises: Who will be the smart money that gets out early?—?and who will be the other kind of money?

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runnymede's picture

Lolita Island threatened by rising ocean levels.

Al Gore on his way now to personally assess the situation.

dexter_morgan's picture

for fucks sake already. Is this fact, or did you hear it on Bloomberg?

Downtoolong's picture

 

Personally, I have never seen the big attraction of a high-rise ocean horizon view. Two patches of blue divided by a horizontal line. Big wup. The most exciting thing you see after about ten minutes (if you’re lucky) is a cargo ship going off in the distance. Even if a babe in a bikini does happen to stroll by on the beach, you’re too far away to tell whether her face looks more like Cindy Crawford or Burt Reynolds.

 

 

 

 

   

runnymede's picture

It's Janet Renoyellen. You are way too far away.

Boubou's picture

No - very boring kind of view. You need an estuary, river, mountains, harbor, fishing fleet etc to make it any good.

just the tip's picture

is this article the screenplay for "Kingsman:  The Secret Service, Part Deux"?

CO2isLife's picture

Sea level increases by about 3mm/yr, and that rate is at the far low end for the Holocene. Sea Levels aren't accelerating which would be expected if we were warming at an unusual rate. Simply look up the sea level data at the U of Colorado. There is nothing to fear.

 

The rate of change in the Sea level is not increasing (2nd derivative)

https://co2islife.wordpress.com/2017/01/17/climate-science-on-trial-the-...

mary mary's picture

Question: Who wants to live in a 20-story wasp nest full of neighbors who think they were born to mind your business, where prices are always at "tourist levels", where traffic is always clogged, and where your electricity and water have to be brought long distance through very complicated systems, and your sewage pumped out the same way?

Answer: Stupid people.  People with more money than brains.

mary mary's picture

Regardless of whether or not sea levels are rising, it is irresponsible, indeed reckless, to line the entire coastline of the USA with 10- to 30-story condominiums.  Mother Nature always comes up with SOMETHING powerful.  Tsunami, hurricanes, whatever.  Sooner or later, FEMA Flood Insurance is going to end up costing taxpayers as much as "The Great Health Care Insurance Fraud" costs them today.  (Of course, the coastal condominum building is merely a Ponzi-scheme responding to THE Ponzi Scheme, the FED, and it's printing of trillions of "dollars" every year out of thin air.  Americans lack the courage to point their fingers at the FED and shout "YOU are the one stealing from everybody".  But Americans do silently buy up beachfront condominiums, hoping to tag along on anything which might protect their savings from the FED.  Trouble is, condominium buyers are betting against Mother Nature.  The FED merely has to bet ON Human Nature.

UndertheDRADIS's picture

Probably why Pensacola Beach property owners keep voting against developers. They don't want to live on Miami Beach.

SmilinJoeFizzion's picture

Grew up in Miami- Can still fish from the same spot off the beach with rocks marking the spot. that was 40 years ago and the water line is still the same. If you are scared by climate change then you really are just a giant pussy

mary mary's picture

I am not seeing the sea level rise.  However, I am concerned about something else: there used to be a lot more fish.

UndertheDRADIS's picture

Exactly. To paraphrase one observation, we can't keep using the oceans as a combination sewer and pantry. For all you who are "Environmentalists," the man-made Glowbull Warming hoax isn't working. Normal people are a lot more worried about fisheries; eating is a lot more of an immediate concern.

Boubou's picture

Yes. Not just fish. Were I am we have lost fish, coral , sea birds, amphibians, crabs ( land and sea ), mongooses.

Even mosquitos and bees.

And it's not development or pollution. We are 1200 miles S.E. of Miami

mary mary's picture

I keep coming back to one factor: overpopulation.  I think that, a long time ago, people learned the limits of the natural systems that supported their communities, but after the world (money) "went global", decisions were made by outsiders who didn't live among those natural systems, and therefore didn't care about them.  Those outsiders almost always want to maximize sales, which means maximizing customers, which means maximizing population.   "After us the deluge".

This is fast making planet Earth a far less nice place to live.

Then the outsiders tell us it's OUR fault, and tell us WE need to fund THEIR NGO's, which all go around putting window-dressing on the depleted monocultures the outsiders' "leadership" has replaced the original beautiful natural systems with.

Dg4884's picture

I live in Tampa.  Just means the beach will be a little closer.  Rock on Beavis.

SmedleyButlersGhost's picture

Maxine Waters' office recently published a study on the topic of rising sea levels - most consider this the definitive study. I'll try and post the link. The guts of it is that the rising water levels are due to the dramatic proliferation of sailors. Seems that in ancient times only a few hardy souls ventured out on to the oceans and they had no meaningful impact. In more modern times, we have 100s of thousands of sailors out on the oceans year after year for over a century now. According to Maxine, "...this proliferation of semen (sic?) has greatly impacted the oceans"...as their bodily fluid discharges accumulate over these long periods of time. Maxine noted that the US Navy was of particular concern as their masturbatory habits continue unabated. Maxine's study also cited statistics on certain coastal communities whose residents also contribute to the problem. Without getting into it, let's just say that the coastline of Santa Barbara is very active at night. Oh, and as black people cant' afford to live on the ocean front, can't swim or go yachting, Maxine is seeking reparations from the white community.

UndertheDRADIS's picture

She may have a point. I remember loooooong periods between ports full of little brown girls. Good times.

just the tip's picture

she don't no what she talkn bout.  it rained last week.  water is up.

SmallerGovNow2's picture

If Waters' name is on it, it tells you all you need to know.  That is one psycho bitch...

overmedicatedundersexed's picture

seems the seas only rise in areas I don't live near..here the atlantic if it has risen in 40 yrs I guess the sand has risen an equal amount..cause there is no (measureable by human eye )rise..why is that?

fluid dynamics are not the same as they used to be I guess..d/t great public education over those 40 yrs..

SmallerGovNow2's picture

If there is any measurable sea rise, it could be caused by any number of factors.  The number of ocean going vessels has increased thereby displacing more water (admittedly this is a small amount but it is a factor).  Volcanic activity under the oceans creates new formations, even new islands, that displace more water.  Tectonic plate shifts should be considered although I highly doubt they can model this.  Last one I can think of is that water from rivers that flow into the oceans/seas bring sands and silts with them that are then deposited in the sand bar system and/or create or expand the river deltas also displacing more water. 

There are a multitude of reasons why sea levels MIGHT be rising.  The "scientists" blaming it all on man made CO2 are full of shit...

overmedicatedundersexed's picture

well NYC is underwater, as al gore told us yrs ago it would happen..oh wait:

"In his global-warming propaganda film An Inconvenient Truth, Gore spoke of how ice melt-off could lead to the flooding of low-lying areas, including Manhattan. In fact, nine years ago he warned of a high probability that the “entire North Polar ice cap” may well be gone in five years. Instead, reports are that Arctic ice is the thickest it has been in 75 years. And Manhattan? Well, it’s still dry and as all wet with liberalism as ever."

globalintelhub's picture

we all knew this since 2000, only an idiot would have an investment in 'flood zone' www.splittingpennies.com

SmittyinLA's picture

Has the county assessor cut anybodys property taxes from loss to sea level rise?
(Other than Trump)

TheObsoleteMan's picture

Mankind has been trying since the dawn of time to influence the weather {climate}, and have failed miserably. Now they would have us to believe we are at last successful, but through none of our own efforts. Right.  Reminds me of this scene:

https://www.youtube.com/watch?v=_4e8iAofnrw

Posa's picture

Developers all build large towers on the edge of the ocean... and then the shoreline sags and  sinks under the weight of the buildings... The process is called called subsidence ... so sure, at high tide or stormy weather, these towers basements are going to be flooded ...

So don't build on the sand dunes; and don't offer subsidized flood insurance... The sea has been rising for 22,000 years since the last glaciation...currently seas are is rising 2.5 mm (maybe) / year... measure 2 mm on a ruler... not much to be scared about

If anything, the climate Scientists are praying that seas will rise faster... "In stark contrast to this expectation however, current altimeter products show the rate of sea level rise to have decreased from the first to second decades of the altimeter era."

https://www.nature.com/articles/srep31245

This is a typical lament...

 

UndertheDRADIS's picture

It would also make sense that once the houses are destroyed and paid for that rebuilding in the flood zone would be forbidden. That way we don't have to buy people new waterfront and riverfront houses every couple of years.

Rhal's picture

Well said.

Global warming alarmists NEED sea levels to rise in order to justify all the failed doom predictions.

mary mary's picture

Sea Level Rise -> Global Warming -> Carbon Tax  -> Al Gore becomes the world's newest trillionaire.

(I guess that's ad hominem, but I do suspect that his financial interest in the Carbon Tax "Exchange" prevents him from being an objective and therefore actually scientific party.)

SunRise's picture

Buy the house that currently has the waterview.

Besides,  there have been OCEANS of oil extracted from beneath the surface.  I've yet to hear ocean-rise-alarmists consider that seawater could end up filling those voids.  The ocean leavels could actually end up falling, even if there is a warming trend.

unsafe-space-time's picture

Oceans? More like a drop in the bucket.

besnook's picture

south florida has a bigger imminent issue even if climate change bs is true. the population should worry about a tsunami caused by a collapse of one of the azore islands. i used to own a house 5 miles inland that was on the highest point in a 5 miles radius at 22 ft above sea level. the highest point between the coast and the everglades is 40 ft above sea level.

True Blue's picture

Sea levels were 3 feet higher on the day Julius Caesar was murdered on the Senate floor than they are today.

They dropped by a precipitous 20 feet during the Medieval ice age -which put an end to the English growing grapes among other things. 

Remember in the 70's when all the climate change 'scientists' thought we were headed into another ice age? Seems there was a 'consensus' then too.

carbon's picture

anybody here zh, from austraila gold coast, 

I watch in south asia sea,  island beach

for almost 6 years now, the sea level, 

it went up maybe half meter !

mary mary's picture

The sea level there rose 0.5 meters during the last 6 years?  Really?

Posa's picture

Correct. Roman Empire era-ports were built a mile inland from current shorelines.

Evil Liberals's picture

97% of Climate Models agree, the acual observable data must be wrong.

Schlump's picture

Stupid, this article is stupid. The sea will rise 1-3m this century, and rich people are buying real estate 5-20m above sea level, at the coast. They know how much the sea will rise, so they are not buying at 0m above sea level. Not so hard to work out, but apparently too hard for the genius who wrote this article.

Trump owns a mansion on St. Maarten bought in 2013 last we checked. Think he's worried?

That mansion is about 5m above sea level, check out google maps and look at the photos of the beach.

Oh, and Trump IS worried about sea level rise. He petitioned the Scottish government to help pay for a sea wall to protect his seaside golf course in Scotland, citing climate change and sea level rise as the reason.

WAKEY WAKEY zerohedgers!

Vince Lanci's picture

two words. POTABLE WATER. 2 more: SALTED EARTH

they will not sink. they will ahve theri own water supply. you will have water restrictions adn meters on your toilet.

SmallerGovNow2's picture

WAKEY WAKEY science denier...

6CO2 + 6H2O + SUNLIGHT ---> C6H12O6 + 6O2

CO2 is plant food!!!

CO2 plus WATER plus SUNLIGHT yields PLANT GROWTH and OXYGEN.

Photosynthesis, biology 101, the only science you need to know.

Bludklot's picture

Trump petitioned for the seawalll to keep the salt spray from the large breakers nearby from ruining his greens. It had nothing to do with sea level rise. I live in Florida and this whole article is total bullshit. Miami/Dade is sinking because they are pumping out the aquafir but the crazies interpret that as the ocean is rising at an alarming rate. 2m   year is barely detectable, and the rate is not increasing.

Jim Shoesesta's picture

Bullshit, complete and utter bullshit. 

GeezerGeek's picture

I moved to SE Florida in 1973 and bought a home a few years later. It is close enough to the ocean that I can see the buildings that line the beach in Ft. Lauderdale from my 2nd floor windows.

In early 1980 (April 1, I think) I told my manager that I was planning on leaving the area, although I wasn't certain just when I'd be leaving. She asked for more information, and I explained that I'd read stories proclaiming the submersion of the entire S. Florida area by the year 2000. Amazingly, the canals I pass by daily - which have tidal waters - have not exhibited any overall rise in water level yet. At least it's nothing I can see with my eyes, and I'm less than eight feet above the water table. 

A far bigger problem is the increasing levels of windstorm insurance for those of us close to the coast. The deductibles were quite high the last time I looked, and the insurance has always been expensive. (I think the rate schedules for Obamacare were copied from the windstorm insurance rate schedules.)

For better or worse, the last bits of our freedom will be gone before the waters reach my doorstep.

besnook's picture

ft. lauderdale in the 70s was as close to utopia that has ever existed on earth.

Schlump's picture

Yes, this article IS total BS.

decentralisedscrutinizer's picture

 

Almost all the world’s economic and political problems revolve around the hegemony of a global corporate cartel, which is headquartered in the US because this is where their military force resides. The only way to regain our sovereignty as a constitutional republic is to severely curtail the privileges of any corporation doing business here. As a free nation, we really have to stop granting corporate charters to just any “suit” that comes along without fulfilling a defined social value in return. The "Divine Right Of Kings” should not apply to fictitious entities just because they are “Too Big To Fail”. We can't take the incorporation of private transnational banks for granted anymore. The government must be held responsible only to the electorate, not fictitious entities, if we are ever to restore sanity, much less prosperity, to the world.

 

 

 

It was a loophole in our Constitution that allowed corporate charters to be so easily obtained it created a swamp of corruption around our capital. It is a swamp that can't be drained at this point because the Constitution  doesn’t provide a drain. This 28th amendment is intended to install that drain so Congress can pull the plug ASAP. As a matter of political practicality, because they defend each other with battalions of corporate lawyers, and because said corporations virtually constitute a global empire, we can't outlaw corporations through the States’ amendment process but must rely on the Article 5 Convention for which the electorate will need to prepare for consensus beforehand. Seriously; an Article 5 Constitutional Convention could solve that problem in days. This is what I think it will take to save the world; and nobody gets hurt:

 

 

 

28th Amendment

 

Corporations are not persons in any sense of the word and shall be granted only those rights and privileges that Congress deems necessary for the well-being of the People. Congress shall provide legislation defining the terms and conditions of corporate charters according to their purpose; which shall include, but are not limited to:

 

1, prohibitions against any corporation;

 

a, owning another corporation,

 

b, becoming economically indispensable or monopolistic, or

 

c, otherwise distorting the general economy;

 

2, prohibitions against any form of interference in the affairs of;

 

a, government,

 

b, education, or

 

c, news media, and

 

3, provisions for;

 

a, the auditing of standardized, current, and transparent account books, and

 

b, the establishment of a state and municipal-owned banking system

 

c, civil and criminal penalties to be suffered by corporate executives for violation of the terms of a corporate charter.

 

 

 

Think about it: The Founders had to fight a bloody Revolutionary War to win our right to incorporate as a nation – the USA. But then, out of legislative inexperience, our Founders granted unrestricted corporate charters, (with enough potential capital & power to compete with the several States, smaller sovereign nations, and eventually buy out the Federal government itself) to thieves and con men. Ooooops! Now they all got together and want to buy the whole shrinking Planet, coalition armies and all! How whacky is that?! God bless the Divine Board of Directors !

    

venturen's picture

you don't even need to buy...you are on the hook for the lossess....just the way Goldman et al...want!

NurseRatched's picture

"Tidal flooding" is due to canals getting shallow - you can't get a dredging permit anywhere in South Florida. Canals originally dug in the mid 1960s are very shallow now after 50 years of no maintenance. Sand shifts; dirt moves, silt builds up. Dredge, baby, dredge!