The rising sea level will have a drastic economic impact.
Climate change over the course of human existence has had and will have drastic economic impact.
But just think of all the jobs that will be created when cities like NYC have to relocate. That is a lot of construction jobs, no? Then you are going to need a lot of new moving companies. Someone is going to make a lot of money off this.
ΜOΛΩΝ ΛΑΒΕ
People continue to build in areas that are washing away. Barrier islands, etc. are very popular for expensive summer homes....we get to underwrite their idiocy with the Flood insurance program and the 'reclaiming' projects (that's where we pay millions to put the sand back on the beach).
Through all of our running and all of our cunning, if we couldn't laugh we just would go insane. - Jimmy Buffett
There are millions of people paying for flood insurance who will never file a claim.
20/20 featured a segment showing that those covered by flood insurance may still get crapped all over.
And it is hard to get FEMA to back up the homeowner.
They showed, for instance, homes that were battered off the foundation in Sandy. The engineer that viewed the property declared the storm took it off the foundation causing structural damage. The insurance company took the report and modified it to exclude the home from coverage. The engineers of course were furious when they found out how the report was doctored by the insurance company. Fema shrugged their shoulders over this.