During the financial meltdown in 2009, Rick Santelli asked if you wanted to pay for your neighbor’s house. CLICK HERE  for a video that will specifically enlighten you on what is happening again in Florida and Texas. America, are you pistoff yet? But wait let us not spare the details.

As reported by the WSJ’s Ruth Simon. Brian Harmon just finished spending $330k to fix up his home in Kingswood, Tx when hurricane Harvey bathed the house in flood water. This is the 22nd time since 1979 that the house was flooded. REPEAT 22 TIMES. YES, SINCE 1979 thru last year, you (Uncle Sam) has coughed up $1.8 million dollars to rebuild the house that is worth $600,000. What kind of bull is this?  Are words that you typically hear in a bar full of stevedores now coming from your mouth?

Looking at the statistics, repetitive flood properties account for 2% of the 1.5 million that have flood insurance, but FEMA pays out 30% of their claims to these freeloaders. But that is not all. FEMA will even buy your house to alleviate further claims at above market price. Effectively, the risk of owning these properties is passed on to the government (us).

Once again as the story noted nearly half the frequently flooded properties have received more that their homes are worth. Because of FEMA insurance bad behavior is condoned by Uncle Sam. After Harvey 1850 homeowners have asked Harris County Flood Control Department’s buyout program to be put on the list.


Oh we forgot to tell you that the Flood Program is under water to the tune of $25,000,000,000 not counting Harvey and Irma. The floodgates have opened once again and it is not unreasonable to expect another $25,000,000,000 to be added to the toll.


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