FOX Business host Larry Kudlow reveals the response to California’s wildfires on “Kudlow.”
The political failures of the left are ruining California, and that is the subject of the riff. First and foremost, california nightmare It’s a natural disaster. No one can control the winds in Santa Ana. My brother and his wife, who live in Hollywood, had to evacuate their apartment.
Thankfully, the Hollywood Fire was extinguished and they returned home. In a massive fire like this, there are no heroes. It’s better to be safe than sorry. Unfortunately, there is ample evidence that the left-wing politics of blue state California politicians have made the tragedy even worse.
Authorities were unable to properly refill water reservoirs, resulting in fire hydrants in several areas running out of water. Previously, the mayor’s office actually cut the fire department’s budget. Governor Newsom appears to have cut off the flow of water that never reached Southern California to protect an obscure fish called the smelt. Let’s hear President Trump talk about smelt.
California wildfires urgently scrutinize federal and state rules hampering mitigation efforts
Former National Security Adviser Robert O’Brien and Florida Republican Rep. Greg Steube discuss the merits of acquiring Greenland on “Kudlow.”
Trump: “Yeah, it’s very sad because I was trying to get Gavin Newsom to allow water to come in. If they send water into the Pacific Ocean because they’re trying to protect tiny little fish, there’s going to be a huge amount of water. It will come up. By the way, in other areas called smelt, there is no water for smelt.”
Again, this is a tragic nightmare of a natural disaster in California. Lives are lost, homes are destroyed, and I’m no expert on all of this, but when reservoirs are empty and water is flowing down into the Pacific Ocean instead of being piped to fire hydrants, that’s a problem. government Mistake in first order. Many people tell me that California’s infrastructure, especially its pipes and power systems, has been neglected for quite some time. Part of the reason is that all the money is going to so-called climate change projects by green politicians.
Perhaps some of Southern California’s tragedy could have been alleviated if Governor Newsom, Mayor Bass and others had spent more money on water and power infrastructure and reservoir management.
I think people in the Los Angeles area are more worried about their safety than the blame game at this point, but it would be helpful at some point to do a post-mortem and investigate what went wrong. What can be done to reduce these natural disasters?
There is also an economic side to this story. One major bank’s early estimates put it at $50 billion in losses, of which $20 billion would be insured losses. California also has a big problem here. Some major home insurance companies, including State Farm and Allstate, are exiting the market.
State Farm stopped offering home insurance last spring. I’m no expert in this area either, but I have to wonder if they’re looking at the same infrastructure issues and assessing the same risks as other insurance companies. And these insurance companies have decided that they don’t want to risk blowing up their balance sheets and their insurance companies. The whole company.
Even though they have shareholders to answer to, California insurance regulators won’t allow insurance companies to charge premiums high enough to cover the risk of natural disasters, and sure enough, premiums continue to rise. But that’s the only way insurance companies make a profit. You can survive as long as you don’t give up completely.
Additionally, California’s insurance regulator, known as the FAIR Plan, is set to be hit hard by the wildfires and is attempting to impose huge assessments on private insurance companies. company Many cannot afford to pay.
California was already in the midst of a home insurance crisis before the recent catastrophes, but this fire may be the most expensive fire in U.S. history. It’s not entirely different from the Florida hurricane disaster. Despite rising insurance premiums, property values in some of these hard-hit areas will decline. I think Southern Californians are more worried about their own survival right now than they are about money or money.
CLICK HERE TO GET FOX BUSINESS ON THE GO
Indeed, one reality is that the country’s highest-tax state could do much better than it has in the past at managing its critical pipes and power systems, reservoirs, forests, and insurance systems. .
I would like to say what many people are thinking. Left-wing politics has failed once again. If we want to help the people and businesses of California, we need significantly less funding for left-wing climate extremists and more money to improve basic services and enrich the pockets of ordinary workers. How about casting a ? That’s the riff.
This article is an excerpt from Larry Kudlow’s opening commentary in the January 9, 2025 edition of “Kudlow.”
