Rome Wasn't Built In A Day: How Long To Recover From Hurricane Wall Street?
Short answer to the question posed by the headline: for everyone but the super-rich, it'll take many extra years, now, in areas ravaged by weather extremes. Corollary: we're back to emphasis on lifestyle changes.
In the 1960's, singer, songwriter Tom Rush made famous his arrangement of the traditional song "Galveston Flood," passing the story of hurricane-caused tragedies of 1900 to a new generation (See historical discussion of the song here via::Daily News, Singing up a 'Mighty Storm' in Galveston.) The song's chorus has returned, one more time, tragically.
Wasn't that a mighty storm
Wasn't that a mighty storm in the morning, well
Wasn't that a mighty storm That blew all the people all away
Galveston Texas took over a century to become what it was the day before this latest hurricane hit - in the lead up to that day, seeing runs on banks of the Great Depression era (as pictured above), two World Wars, profligate exurban development, as was normal for much of the USA, cheap credit, and likely far more rich people than were around in 1900. Hurricane Wall Street's Impacts
Construction projects planned for Galveston and New Orleans will certainly be squeezed by the first-wave impacts of the Wall Street "investment banking" crisis, as it is generally being referred to.
Commercial loans and home mortgages will be hard to come by for the foreseeable future, limiting the rate of storm recovery everywhere. Hence, this post's title "Hurricane Wall Street" (which was, we should point out, first claimed in the post, Picking Up The Debris From Hurricane Wall Street over at Grist)
The Second Wave
A second wave from Hurricane Wall Street - a flood of personal credit card restrictions - could yet hit, making even the most basic home repairs problematic for homeowners and landlords. Not to mention the scale and timing of do-it-yourself green home upgrades being limited to the rates at which people can save.
Considering the sum of likely impacts of Hurricane Wall Street, then, we could be entering an era of No More Green Building, overlain with much less green refurbishment than anyone had hoped to see.
A secondary impact of Hurricane Wall Street
Necessary repairs will by-and-large be done by the "cheapest means possible." Unless, of course, the Federal government's planned clean up of Hurricane Wall Street takes a seriously green detour - a subject that has not yet even been touched upon in the news media - and provides incentives for loans that reduce energy consumption.
Let's assume that climate action incentives are not included in Hurricane Wall Street's clean up. Where does that leave us with climate action? A renewed emphasis on lifestyle change, perhaps.
Image credit:Wikimedia, War Of Wealth Bank Run Poster
More on the Green Deal idea.
A Green New Deal: 100 Months to Save the World from Climate Change ...
Imagine: Another "New Deal" - Greener Than The First
A Test Of Corporate Leadership: Recession Amidst Green Market ...