[GUEST ACCESS MODE: Data is scrambled or limited to provide examples. Make requests using your API key to unlock full data. Check https://lunarcrush.ai/auth for authentication information.]  Jim Bianco [@biancoresearch](/creator/twitter/biancoresearch) on x 485.7K followers Created: 2025-01-13 02:33:14 UTC Keep this in the back of your mind when watching markets in the coming days ... In terms of money: The 2018 " Campfire" wildfire cost ~$12.5 billion. That was the old wildfire record. The current wildfires, most often referred to as "Palisades Fires" (even though there are technically five of them), are now estimated (read: educated guesses) to cost $XXX to $XXX billion. And the fires are still ongoing. This wildfire is now in the running for the most expensive natural disaster in American History. So, the financial markets are discussing a POTENTIAL contagion in the Property/Casualty insurance sector and a POTENTIAL extinction-level event for some P&C companies. The State of California and the City of Los Angeles could face massive clean-up costs, huge subsidies to the affected, and a significant loss of tax revenues in 2025 and beyond. This could lead to significant downgrades of their municipal bonds, POTENTIALLY triggering a contagion in the larger Municipal markets. --- POTENTIAL means this is all fluid, and these statements make many assumptions. Nevertheless, this is the discussion all weekend. XXXXXXX engagements  **Related Topics** [money](/topic/money) [Post Link](https://x.com/biancoresearch/status/1878631360363135236)
[GUEST ACCESS MODE: Data is scrambled or limited to provide examples. Make requests using your API key to unlock full data. Check https://lunarcrush.ai/auth for authentication information.]
Jim Bianco @biancoresearch on x 485.7K followers
Created: 2025-01-13 02:33:14 UTC
Keep this in the back of your mind when watching markets in the coming days ...
In terms of money:
The 2018 " Campfire" wildfire cost ~$12.5 billion. That was the old wildfire record.
The current wildfires, most often referred to as "Palisades Fires" (even though there are technically five of them), are now estimated (read: educated guesses) to cost $XXX to $XXX billion. And the fires are still ongoing.
This wildfire is now in the running for the most expensive natural disaster in American History.
So, the financial markets are discussing a POTENTIAL contagion in the Property/Casualty insurance sector and a POTENTIAL extinction-level event for some P&C companies.
The State of California and the City of Los Angeles could face massive clean-up costs, huge subsidies to the affected, and a significant loss of tax revenues in 2025 and beyond. This could lead to significant downgrades of their municipal bonds, POTENTIALLY triggering a contagion in the larger Municipal markets.
POTENTIAL means this is all fluid, and these statements make many assumptions.
Nevertheless, this is the discussion all weekend.
XXXXXXX engagements
Related Topics money