Friday 30 July 2021

The Poor The Hardest Hit

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As one would expect the focus so far has been on those affected as well as property and infrastructure damage. The impact on an economy already crippled by rising debt and high government spending could be serious.

Realtors and promoters of tourism will have a harder time justifying the benign climate image they spout. This mean houses will be even harder to sell and some tourists and would be immigrants will be put off. More immediately, farm production and incomes will be hit. Casual workers, who were unable to work will have less pay. Closed businesses, including retailers

More immediately, farm production and incomes will be hit. Casual workers, who were unable to work will have less pay. Closed businesses, including retailers and and service operators will have lost income.

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Reconstruction and repairs may provide a short term input to to increased employment and activity. The likely cost will include even more borrowing.

As usual, it is the poor who will be hardest hit. Relatively wealthy friends of ours simply evacuated their

Relatively wealthy friends of ours simply evacuated their Escazuu condo to a hotel, when it was threatened by a landslide.

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Chris Clarkehttp://www.penmanhouse.com/413894516
Chris Clarke writes thrillers under the name Aaron Aalborg and has retired to Costa Rica from New York and bought a house here 6 years ago. His career included international banking. He has degrees in economics and management. In earlier lives he was a Catholic trainee monk; a radical student activist, a Royal Marine Commando, a businessman, a partner in a consulting firm, a professor at a UK business school, an Investment banker and the CEO of a global executive search firm. He has lived in Europe, Asia, New York and Latin America.

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