Pull all of your investments. Liquidize everything.People are really underestimating the ramifications of these California wildires.Do these insurance companies have enough in liquid assets to pay this shit out? No way in hell, all companies go off projections not legitimate assetsYoure talking about premiums that are probably 100k a pop for these palisades structures. They are insured a minimum of a million. Theres 2k structures burnt down and countingThey are looking at over a billion dollars AT LEAST worth of payouts and the premiums account for 1/10 of itIf Trump bails them out, economy falls to beyond COVID levels. If he ignores it, rich people pull out of everything to protect their net worths.We are beyond fucked.
Chainlink will solve all these issues
But don't bailouts means more helicopter money which means markets pump like crazy again?
>>59578911Checked Based Chainlink
>>59578905>To pay this shit outI'm an actuary. These companies would not take on the risk if they couldn't legally afford to insure it - ergo they did not take on that risk. The insurance companies will be perfectly fine. Many of the homeowners probably will not be. 100% there are going to be massive crowds of boomers who saved their entire lives to buy their dream beach homes and didn't insure them for fire because they live next to the ocean that are going to get fucked by this. The insurance companies will not.
>>59578905Read:https://abcnews.go.com/Politics/biden-raises-federal-funding-initial-los-angeles-fire/story?id=117516448
>>59578905this is already priced in
>>59578905insurance companies have re-insurance. they´ll be fine.
