After the storm

Despite Sandy, NPR’s Planet Money, which is made in New York, had a brief podcast on Friday. After The Flood, The Backup Plan examined the different ways in which the US economy speeds recovery after natural disasters. 1 One of those ways is insurance and, even more so, reinsurance.

Those are the guys who insure the insurers, and while the insurance business as a whole is certainly aware of the impact of climate change on their business model, one J. Eric Smith, CEO of Swiss Re Americas, was at pains to point out that their reserves are plenty big enough to pony up for at least a couple of big natural disasters simultaneously. That’s reassuring.

When asked who insures the re-insurers, Smith was forthright:

We’re insured by diversification.

Just sayin’.

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Magical thinking about olives

Luigi nibbled the ancient olives of Gethsemane a couple of days ago, and I’ve tried to hold my tongue since then. Tried and, now, failed. It is such a crappy article, I’m wondering not only why I’m bothering to link to it but also why it had to be that way. OK, so there are some old olive trees in the garden of Gethsemane. Big deal. There are even older olive trees elsewhere.

And this is just garbage:

“Despite their age, the 900-year-old olive trees were found in excellent health, unaffected by lead pollution and bacteria.

Amazingly, the garden’s earth appears to block insects and bacterial proliferation.”

Amazingly, indeed. Naturally not one of the entirely uncritical news reports I read refers to the original scientific paper reporting the results, although amazingly, nor do any of them repeat the amazing claim. It might have been interesting to see how the DNA of the eight sampled trees — identical in every one, according to the reports — matches up against other olives in the area and further afield. But not sufficiently amazing, I suppose to interest the Vatican’s supported scientists.

So why am I bothering? Because sometimes the crap just gets too much.

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