January 09, 2008
A quadrillion has been claimed as damages for the Federal Government's failures in dealing with, or preventing, the damages from Hurricane Katrina.
Claims against the U.S. Army Corps of Engineers arising from the collapse of the levees in New Orleans have reportedly broken the $3 quadrillion barrier.
This is definitely into "snigger" territory.
Hurricane Katrina's victims are looking to be compensated for their suffering, to the tune of three quadrillion dollars. That's the total amount of damages sought from some 489,000 claims filed against the federal government over the disaster. An economist says the high number reveals a strategy by plaintiffs to "aim high and negotiate down."
So errr, why does quadrillion engender a snigger? If a quadrillion of damage has been done, surely the victims should get a quadrillion of recompense, yes?
Well, actually, that quadrillion is from one claim alone:
The figure - $US3,014,170,389,176,410 ($A3.44 thousand trillion) - represents a fraction of the roughly 489,000 claims that residents and business owners filed against the federal government over damage from the failure of levees and flood walls following the devastating hurricane that hit the US Gulf Coast on August 29, 2005.
The US Army Corps of Engineers says it has received 247 claims for at least $US1 billion ($A1.14 billion) apiece, including one for an even $US3 quadrillion ($A3.43 quadrillion).
And here's the problem. Sure, when people screw up there is a legal right to get damages from the harm their screw up has caused. Good thing, too.
But a quadrillion dollars? Umm, no. The entire wealth ever created by the entire human race, all through the history of time, is less than a quadrillion. The total output of the USA is some $14 or so trillion, of the whole global economy is around $50 trillion a year. We ain't got to the point where there is a quadrillion (1,000 trillion) of wealth existing, ever, in total, everywhere, so it cannot have been destroyed by one storm in one place.
Lawyers, I blame lawyers.
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I wouldn't fault the lawyers too much. They need the money to pay off their law school loans after all. :-D Blame the law schools for bloodsucking the students dry so they can feed their bloated cow shaped law professors, forcing these future lawyers to work at the behest of super rich law firms that make a living suing big government or big business for a gabullion shmoolion dollars.
Posted by: Lincoln | Jan 10, 2008 4:59:23 AM
"...so it cannot have been destroyed by one storm in one place."
O.K., the "quadrillion" part is completely ridiculous, I get that. But that the figure reduces the claim to a joke, that's lamentable, indeed. The ACoE bears responsibility for 80 percent of the flooding. They killed people. And 73 percent of those killed were elderly and disabled. Nothing to "snigger" about in that, now is there.
Posted by: Measles | Jan 13, 2008 7:30:09 AM