Hurricane losses won’t be recouped

UNNAMED ANALYSTS quoted in the Sept. 1 Journal business section (“Houston’s immobilization to reverberate far and wide”) say losses in Houston will be recouped once Houston’s rebuilding begins. What planet do these robotic nonhuman analysts live on?

How are all the working people who weren’t working and thus not receiving a paycheck going to recoup their losses? How are all the small-business owners who had to shut down going to recoup their losses? How are all the homeowners who have to replace clothing, appliances, food, furniture, etc., plus pay for repairs to their homes if they can even be repaired, going to recoup their losses? How are car owners going to recoup their losses not covered by insurance? Are the phony assertions of the analysts supposed to make people feel better?

It might be possible for large companies to recoup their losses by raising prices, for example refiners raising the cost of gasoline and insurers raising the price of policies, but most can’t raise prices enough to recoup losses. After all, how are people who lost paychecks supposed to pay more for anything?

Just as the city government allowed developers to build in flood zones, and the banks financed such houses, it is only the wheeler-dealers who will come out ahead. Once again the little guy takes it in the shorts. Those in the Houston area will feel it the most, but the average taxpayer will also take it in the pocketbook as billions will be spent to “recoup” the losses in Texas. Money that might have been spent on infrastructure repair will be gone. Money for schools — gone. Money for medical care — gone. The national debt increased unless taxes are raised. The list of losses goes on and on. Things being recouped — fake news.

DAVID L. JACKSON Albuquerque