Dear Editor,
These comments written reveal insights from national governments dispensation towards changing and dangerous weather trends; according to the September issue of the National Geography Magazine article; “Rising Seas.” More and more governments are declaring populated developments as located in danger zones; fire zones, slide zones, earthquake zones and flood zones.
Here in Alberta the timely and unfortunate disasters of the City of Slave Lake and the devastating recent flooding of southern Alberta, have unfortunately set these wheels in motion. Because neither Federal Canada or provincial Alberta can sustain an indefinite or re-occuring bail-out option at these monetary values, hundred year old solid townships and cities are now located within these danger zones.
Once these declarations become official any new development within will become un-insurable and with limited government help. Existing developments can expect massive rate increases with limited payout options or dropped policies. This trend will in turn cause the banks to react as no insurance means no mortgage. No mortgage means all property sales within these zones must then by necessity become cash only sales. Anyone have a spare half million lying around? Real estate will grind to a halt. You will not be able to sell these properties.
An abrupt and unexpected change in weather trends is to blame, yet we were all told to expect these changes by those climate scientists many decades ago. No one expected this sheer level of destruction to ensure. Higher than normal national rainfalls along with voluminous heavy accumulations of snow in the mountains has drastically increased precipation within Canada. After the last heavy winter we received a wet summer where this August’s rainfall exceeded the amount that fell for the two previous August’s put together. Will these weather trends suddenly stop? Will the snow keep piling up? You bet! According to those climate scientists, at our current annual rate of carbon release into the atmosphere, these trends will accelerate until the oceans levels rise by three to four meters, in the relevant future. It is expected that all coastal countries will lose up to 20 per cent of their land mass. Try selling that beach front property then.
What would a cash economy do to our banking system then, when they do not have the currency reserve to cover what they have lent out. Is that big monetary crash coming and do current trends point the way? Without a doubt!
W. Krechuniak
