Some of the images of the destruction that has taken place in the Los Angeles area are hard to believe. We are being told that approximately “75% of Pacific Palisades has been completely leveled by fires”, and the use of the phrase “completely leveled” is not an exaggeration at all. It literally looks like a nuke went off and wiped out everything. There have been plenty of fire disasters in California before, but never anything like this. At this point, Accuweather is projecting that total economic losses will be “between $52 billion and $57 billion”…
The blazes — which are ripping through some of the nation’s priciest real estate — are likely to cause between $52 billion and $57 billion in damages and economic loss, according to a preliminary AccuWeather estimate.
That may sound like a very high estimate, but JPMorgan…
