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economic costs of protest

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    economic costs of protest

    Consider this:
    “The vandalism and looting in protests following the death of George Floyd at the hands of Minneapolis police will cost the insurance industry more than any other violent demonstrations in recent history, according to an Axios report.”
    “While the protests, which occurred in 140 US cities over the spring, were mostly peaceful, the arson, vandalism and looting that did occur will cost the industry at least $1 billion to $2 billion in claims, according to Axios. This will surpass the previous record set during the 1992 Los Angeles riots that followed the acquittal of the police officers who beat Rodney King.”
    https://www.insurancebusinessmag.com/us/news/breaking-news/insurance-costs-for-george-floyd-riots-will-be-most-expensive-in-history-233905.aspx

    “The Canadian Manufacturers & Exporters organization estimates that approximately $44 million in trade goes both directions across the Coutts border every day.” As of Feb 3rd, the economic cost of Coutts alone was estimated to be $224 Million in UNINSURED losses https://calgary.ctvnews.ca/coutts-alta-border-blockade-estimated-loss-of-220m-economic-activity-industry-experts-1.5766906

    “Up to $400 million in goods usually cross the Ambassador Bridge every day. Business leaders say protest puts decades-long economic symbiosis at risk.” https://www.thestar.com/business/2022/02/08/ambassador-bridge-blockade-snarls-us-canada-trade-will-affect-everything-that-you-buy.html

    “Plants have been forced to shut because car parts are being held up at two US border points blocked by truckers protesting against a vaccine mandate.”
    “Canada's Transport Minister, Omar Alghabra, called it an illegal economic blockade against all Canadians.”
    “The trade disruption is estimated to be costing $300m (£221m) a day.” (https://www.bbc.com/news/world-us-canada-60331882

    Workers in Michigan car plants lost $51 million in wages this week alone, think about what Canadian auto workers and other Canadian workers have already lost
    https://www.abc12.com/news/state/workers-in-michigan-could-lose-up-to-51-million-in-wages-this-week-because-of/article_e00aa5e6-ade5-5361-b9db-5165b67ad182.html

    You cry about the damages caused by BLM protestors but most loses were insured. The economic costs caused by the freedom convoy are most uninsurable and have already topped the BLM riots.

    #2
    anyone in the oilpatch can certainly relate to that
    or ranchers that are told farting cattle have to go
    what goes around comes around

    Comment


      #3
      Originally posted by dmlfarmer View Post
      Consider this:
      “The vandalism and looting in protests following the death of George Floyd at the hands of Minneapolis police will cost the insurance industry more than any other violent demonstrations in recent history, according to an Axios report.”
      “While the protests, which occurred in 140 US cities over the spring, were mostly peaceful, the arson, vandalism and looting that did occur will cost the industry at least $1 billion to $2 billion in claims, according to Axios. This will surpass the previous record set during the 1992 Los Angeles riots that followed the acquittal of the police officers who beat Rodney King.”
      https://www.insurancebusinessmag.com/us/news/breaking-news/insurance-costs-for-george-floyd-riots-will-be-most-expensive-in-history-233905.aspx

      “The Canadian Manufacturers & Exporters organization estimates that approximately $44 million in trade goes both directions across the Coutts border every day.” As of Feb 3rd, the economic cost of Coutts alone was estimated to be $224 Million in UNINSURED losses https://calgary.ctvnews.ca/coutts-alta-border-blockade-estimated-loss-of-220m-economic-activity-industry-experts-1.5766906

      “Up to $400 million in goods usually cross the Ambassador Bridge every day. Business leaders say protest puts decades-long economic symbiosis at risk.” https://www.thestar.com/business/2022/02/08/ambassador-bridge-blockade-snarls-us-canada-trade-will-affect-everything-that-you-buy.html

      “Plants have been forced to shut because car parts are being held up at two US border points blocked by truckers protesting against a vaccine mandate.”
      “Canada's Transport Minister, Omar Alghabra, called it an illegal economic blockade against all Canadians.”
      “The trade disruption is estimated to be costing $300m (£221m) a day.” (https://www.bbc.com/news/world-us-canada-60331882

      Workers in Michigan car plants lost $51 million in wages this week alone, think about what Canadian auto workers and other Canadian workers have already lost
      https://www.abc12.com/news/state/workers-in-michigan-could-lose-up-to-51-million-in-wages-this-week-because-of/article_e00aa5e6-ade5-5361-b9db-5165b67ad182.html

      You cry about the damages caused by BLM protestors but most loses were insured. The economic costs caused by the freedom convoy are most uninsurable and have already topped the BLM riots.
      I won't argue your points but there is an article that Toyota will cut production by half a million vehicles but not because of the above....but because they forgot to keep ordering chips.

      And the government will cover that incompetence.

      I have no sympathy for the auto industry. They have to change their supply chain model.

      Comment


        #4
        Ya most of the BLM damage insured to what level or percentage when you have people destroy something how much does that cost to get it back and how much time was lost What is the effect on business owners mental health. When that is ignored in a election year by one side of politics and allowed to carry on with no penalty there is people that should be held accountable instead of blowing it off

        Comment


          #5
          LOL, let me know when it gets near $600B.

          Comment


            #6
            Oh let me get this straight now…. Leftist BLM protesters can burn down peoples businesses and government buildings because they are insured, but damn Truckers THAT HAVE ECONOMIC LEVERAGE! (Atta go boys), haven’t destroyed an asset, haven’t torched anything….are the Bad People…..GEEZES THE LOGIC OF SOME HERE IS AMAZING.

            Trudope could stop this in 1 hour if his arrogance was put aside and meet with them and drop the mandates.

            HOLD THE LINE BOYS AND GIRLS!

            Comment


              #7
              Shithead Trudeau cost us hell of lot more than a protest for a couple of weeks. So don't cry that the economy is going down because of protests.

              Comment


                #8
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                Comment


                  #9
                  Would anyone like to do so modeling . At the current rate of inflation what’s
                  - new Ford F-150
                  - prime rib steak
                  - liter gas
                  - liter diesel
                  - cell phone bill
                  - average house hold power and gas bill
                  - average house water bill
                  - average house taxes and insurance

                  Cost in 2,5, 8 years.

                  Comment


                    #10
                    Didn’t read your rant but the economic consequences of shutting the country down for two years for a relatively benign sniffle flu has been significant. Maybe you haven’t noticed.

                    Comment


                      #11
                      Nobel Laurate"s Paper claiming "freedom" convoy has done as much damage to Canada already as BLM did in the US. And you guys are cheering it on?

                      https://t.co/HnvypjoUEh

                      Quote from paper to take note of: "What this comparison suggests, of course, is that the Canadian protests, which only involved a few thousand people, may have done as much economic damage as the BLM protests, which
                      involved more than 15 million people. That’s not as peculiar as it sounds, because vandalism
                      was incidental to BLM while it was the whole point of the “Freedom Convoy,” whose explicit
                      aim was to cause economic damage."
                      Last edited by dmlfarmer; Feb 13, 2022, 07:33.

                      Comment


                        #12
                        Like combat veterans we are kind of numbed to watching unnecessary economic damage done to the economy of our once great region and bountiful country.

                        Comment

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