According to the Louisiana Recovery Authority, “A recovery success story underscores the importance of safer, smarter and stronger rebuilding in the wake of hurricanes Katrina and Rita. Three days after Hurricane Ike inundated Cameron Parish, staff from the parish's only hospital returned to find the facility high and dry. Less than a year old, SouthCameronMemorialHospital had survived its first major test.”
In a press release from the LRA, “The October 2008 Louisiana Recovery Authority (LRA) Progress Report highlights the hospital's mitigation measures that helped it survive a storm surge higher than the one that destroyed the previous facility during Hurricane Rita. Hospital administrator Rita Simon explains that the hospital's elevation ten feet above sea level saved it from damaging flood waters. In fact, an alligator took refuge on the hospital's ambulance bay, one of the few dry spots in southern Cameron Parish after Ike.
The Progress Report also outlines the LRA's role following Gustav and Ike. On September 15, 2008, Gov. Bobby Jindal called upon the LRA to take the lead in the state's recovery for these new storms, in addition to its role in Katrina and Rita recovery.
The Progress Report observes recovery three years after hurricanes Katrina and Rita, showcasing rebuilding, the return of residents to south Louisiana and the implementation of long-term planning, as in Lake Charles with the start of the first Long Term Community Recovery project.
A funding update also shows that approximately $72.5 billion has been allocated to Louisiana for Katrina and Rita recovery. Of that, $50.9 billion has been spent, including $15.1 billion in rebuilding efforts. More than 70 percent of all federal funding paid to the state has been invested in projects ranging from public infrastructure repairs to economic development grants and loans to business owners.
A long but interesting article (from 1946!). a few quotes: "The expansionists are quite right in asserting that credit expansion succeeds in bringing about booming business. They are mistaken only in ignoring the fact that such an artificial prosperity cannot last and must inextricably lead to a slump, a general depression." "However, as the banks do not stop expanding credit and providing business with "easy money," the entrepreneurs see no cause to worry. They borrow more and more. Prices and wage rates boom. Everybody feels happy and is convinced that now finally mankind has overcome forever the gloomy state of scarcity and reached everlasting prosperity." "In the long run, it must collapse. The short-run effect, the period of prosperity, may last sometimes several years. While it lasts, the authorities, the expanding banks and their public relations agencies arrogantly defy the warnings of the economists and pride themselves on the manifest success of their policies. But when the bitter end comes, they wash their hands of it."
http://mises.org/Manipulation/section5.asp Written by Those who do not learn from history...
on 11/15/2008
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I had read something about 100 billion... What are the numbers? They constantly are changing, doesn't matter what the subject is, where is a defining authority where numbers are really concerned???? Take this bailout thing... 750 billion, then 1 trillion, now talk of 2 trillion, ooops, changed their minds, back down to 850 billion, no, no, 2.5 trillion, national deficit of what? And on and on and on.... Written by
on 11/15/2008
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