By Katie Pavlich | Townhall.com
For months Democrat "leaders" in cities around
the country have refused to squash violent Black Lives Matter rioting in their
cities. The damage to communities has been significant and devastating.
Now, a new assessment first reported by Axios shows the
financial cost of the rioting is on its way to at least $2 billion, making it
the most expensive in history.
The vandalism and looting following the death of George
Floyd at the hands of the Minneapolis police will cost the insurance industry
more than any other violent demonstrations in recent history, Axios has
learned.
That number could be as much as $2 billion and possibly
more, according to the Insurance Information Institute (or Triple-I), which
compiles information from PCS as well as other firms that report such
statistics.
The protests related to George Floyd's death are also
different because they are so widespread. "It's not just happening in one
city or state — it's all over the country," Loretta L. Worters of the
Triple-I tells Axios.
"And this is still happening, so the losses could be
significantly more."
Worse, the communities hit the hardest may never recover.
South Los Angeles still lives with the consequences of the 1992 riots. From
the LA Times:
[Diamond] Jones said she felt like South L.A. had “never
recovered from those riots because, if you look at our community, there’s still
abandoned buildings, there’s still not a lot of jobs.”
Look around, she said, and there’s still a shortage of
grocery stores or restaurants that offer healthful food.
“It bothers me that certain [affluent] communities, no
matter how damaged they are, will be OK,” but it’s not the same for minority
neighborhoods, said Jones, a marketing coordinator for Forever 21 and owner of
the clothing brand Nior.
The Department of Justice has been working overtime to
prosecute rioters. According to Attorney General Bill Barr, federal
investigators are finding out who is behind the organization of the violence
and where funding for rioting is streaming from.
