PROUT Gems - 16

Welcome to another edition of PROUT Gems.

Well it certainly is interesting and extraordinary economic times that are
occurring. Not to mention the extraordinary circumstances in the entire
social arena also, such as increasing frictions around the world with
religious dogmas against each other playing out behind other facades, narrow
mantras of 'border protection' as a scapegoat for instilling fear into
people's lives convincing them that they were apparently unsafe before
without the repetition of this mantra, the ongoing social falsity being
created as to what is terror and its doublespeak redefinition to potentially
include any social challenge to the status quo, and the demise of another
mantra being that of 'greed is good'. One will no doubt continue to see
assertion of many of these things. However, ultimately it comes down to how
expansive you want your mindset to be. A narrow vision based on fear (and
loathing) will not anyone any good. A broad vision based on liberation of
self and service to humanity - through higher ideations - will be necessary
to the advancement of society. This also includes in the economic arena of
life. What we see today in economics is the narrowness of the profit motive.
The consumer and environmental integrity is forgotten. But my, look at the
consequences of that neglect. So let us reliven our thoughts and visions and
our higher thinking and our actualisations for achieving the highest in
humanity. Economics largely needs rethinking and principles that allow for
full recognition of each life and value need to be the basis of that
thinking. This can be called the spiritual vision.

Dharmadeva

--

The economic principles of Prout

The basic principles of Prout's economy are part of the 16 principles that
encapsulate Sarkar's Progressive Utilization Theory (PROUT). The four
socio-economic principles are numbers eight to eleven, and are followed by
what Sarkar calls the five fundamental principles of Prout. All these
principles are concerned with economics.

The first of the four socio-economic principles, the eighth of the sixteen,
states:

"Diversity is the law of nature and sameness will never be."

That is, absolute equality is not possible in an ever-changing world. So
although social equality is the key to an expansive and humanistic ideology,
and although world federation with a common constitutional structure is a
political necessity, diversity must also be recognized and utilized for the
collective good.

Economically, diversity is a necessary consideration in the sound policy of
both developed and less developed countries. The precarious existence of
subsistence peasants must be stabilized, and the living standards raised
through diversification - diverse production and production for both
consumption and trade. Similarly, the precarious existence of totally
trade-dependent economies in both developed and less developed countries
must be established by diversification into self-sufficient production.

Orthodox economic theory proposes the maximization of specialization and
trade, so as to raise total output. However, regional sufficiency must
augment trade for:

a) strategic purposes, so that production of necessities is maintained in
the case of disruption to communications or transport, or in case of war;

b) fullest resource utilization, which is impossible in a totally
specialized economy, where only the most 'efficient' resources of a
particular area are exploited - mass employment is possible in a diversified
economy; and

c) economic democracy, where communities retain productive control of as
much as possible their basic necessities and so retain control of their
lives and help prevent exploitation.

Another economic implication of this recognition of diversity is the
question of incentives and income differentials. While no great gap between
upper and lower incomes can be tolerated in any society based on equality,
some gap must be provided for the maintenance of a certain level of material
incentives and thus higher labour productivity. This issue, and the
practical harnessing of diversity to serve collective interest, is taken up
in the third and fourth principles of this set of four.

The second principle here, the ninth of the sixteen, states:

"In any particular age the minimum necessities of all shall be guaranteed."

That is, the provision of food, clothing, housing, education, medical care
and other necessities to all, is a collective responsibility and must be the
cornerstone of economic policy and social effort. While regional
self-sufficiency is encouraged, a social guarantee must back such efforts.
Everyone comes into this world born of the expectation of living a life
useful to them and society and that is only achieved by ensuring each
person's minimum necessities. Lack of this guarantee today is solely and
unequivocally due to economic inefficiencies and economic arbitrage by
vested selfish interests alone and it is this that is leads to excess wealth
accumulation and the huge disparities and disgusting gross social inequality
in society.

Surplus goods and services cannot be provided for anyone while people in
general do not have their necessities. Of course, the definition of
necessities will vary at different places. For instance, heavy clothing is
needed in cold countries and transport requirements will vary from place to
place. But a minimum level must be determined and guaranteed to all.

The prime mechanism for this policy in any modern economy is the provision
of purchasing power through wages. To ensure that wages carry sufficient
purchasing power for necessities, as well as to ensure that income
differentials are contained, there must be collective prices through
co-operative structures and income control with ceilings on the wealthy.

The third principle of this set, the tenth of the sixteen, states:

"The surplus goods and services, after distributing the minimum
requirements, are to be given according to the social value of the
individual's production."

Note that it is social value rather than economic value. This principle
provides a rational basis for material incentives. It is, of course, better
for society if moral incentives and the desire for social service motivate
people in their productive work. However the practical reality is that
labour productivity is, to a large extent, proportional to material rewards.
The need is for a framework that controls such incentives and contains them
within such bounds as will best serve the collective interest. The
incentives should also be provided in the form of goods and services that
can be further applied to social purposes, rather in the form of wealth that
is likely to be hoarded. The provision of necessities to all, established by
the previous principle, creates an income 'floor'; this principle creates an
income 'dynamic'; the 12th principle sets an income ceiling.

The fourth socio-economic principle, eleventh of the sixteen, states:

"The increase in the standard of living of the people is the indication of
the vitality of society."

So there must be a constant effort to reduce the gap between the income
levels of those with earned surplus goods and services, and those with basic
necessities. This means an approach, which, from time to time, increases the
lowest wage while leaving the higher wages untouched. This is a check on the
expansion of living of society so that everyone can move in a harmonious
way, and the defined level of basic necessities is also allowed to rise. The
benefits of science and technology can thus be distributed equitably and
people in general can be freed from the more mundane responsibilities.
Sarkar notes that mechanization under capitalism means more misery and
unemployment to the common people because with the increase in the yield of
a machine capitalists retrench labourers mercilessly. However under a
collective economy the benefits of technology can be passed on to workers
through progressive reduction in work hours.

While Sarkar supports the socialization of the means of production and the
socialization of capitalist expropriation, he does not support
nationalization or the communist practice of party dictatorship on behalf of
society, and advocates socialism in the context of neo-humanism. Sarkar
opposes wholesale nationalization on two major grounds. First, the state is
entirely dependent upon bureaucrats to administer its affairs. It is
impossible for any bureaucracy to run diverse large and small scale
industries spread over a whole country. Where a policy of nationalization
exists, there persists a smug slackness not only in auditing and accounting,
but also in the administrative affairs of the department. Secondly, it is
impossible for state run industries to demonstrate as much technological and
industrial dexterity and efficiency as either proprietary or cooperative
industries. Nationalization is not a prerequisite for socialist
transformation or reconstruction, and state ownership should be restricted
to those sectors of the economy, which are too large or diverse for
effective cooperative management. That is state or rather local government
holding of key assets on trust for the general public can exist for water,
electrical grid and the like.

Thus Sarkar's economic principles are rooted in human values and he seeks to
blend the expression of human potentiality with economic efficiency and
prosperity in the context of a progressive socialist society.

The first of the fundamental principles, twelfth of the sixteen, of Prout
states:

"No individual should be allowed to accumulate any physical wealth without
the clear permission or approval of the collective body."

This gives effect to the idea of collective property rights - but personal
usufructuary rights must certainly exist in term of housing and personal
chattels and the like. While individual freedom in all spheres is valuable
and to be preserved, economic 'freedom' is of a different nature because it
involves the possible misutilization and misallocation of finite resources.
That means no freedom for those who do not have the will to accumulate and
hoard wealth. Accumulation in one area or by one group necessarily means
depletion of the resources available in another area or to another group.
Therefore there can be no absolute economic 'freedom' as this only implies
the freedom to exploit. The very propagation of such absolute economic
license in the name of freedom is part of psycho-economic exploitation.

The collective body has to set parameters of individual accumulation for all
and then approve the exceptions to these general rules as and when
exceptions are necessary. In this way there is a basis for a healthy
blending of collective and individual interests.

The second fundamental principle, thirteenth of the sixteen, states:

"There should be maximum utilization and rational distribution of all
mundane, supramundane and spiritual potentialities if the universe."

This principle begins the process of defining resources and capacities, to
be utilized and distributed, as wider than the purely physical. Through this
process an equal footing, in principle, is established for comparing subtle
and economic values. For instance, the aesthetic and entitative value of a
forest is no less important than its economic value as woodchips. In fact,
the fourth fundamental principle establishes the subtle value as more
important.

Maximum utilization is not, of course, the same as indiscriminate use or
exploitation. Utilization means proper use and implies the opposite of
misutilization and non-utilization or resources stagnation. When people are
starving the production of materials for war is clearly misutilization. In
similar circumstances, the hoarding of produce for trade advantages is
criminal non-utilization.

Maximum utilization of physical resources therefore provides the means of
properly generating the basic social requirements and amenities. Economic
growth, properly directed, is not a goal but a necessary condition for a
society expanding through improvements in the quality and span of human
life. Economic development implies proper balance and distribution in this
growth process, and maximum utilization of subtle resources implies full
consideration of their development and expression in the midst of this
economic development.

Rational distribution similarly, refers to access to subtle resources as
well as an equitable and constantly adjusted income policy. Minimum
requirements must first be guaranteed to all and then the surplus can be
distributed on merit, provided that the differential gap is progressively
lessened to a minimum and the minimum level adjusted upwards. Some socialist
countries succeeded in cutting the tails of income distribution - the
extreme highs and lows - but failed to maintain constant adjustment and so
disparity has grown again. Finally it should be noted that this principle
extends to include the requirements of the animal and plant worlds; their
requirements as independent life forms and not simply as functions of human
existence. This principle thus includes the existential value of all living
creatures.

The third fundamental principle, fourteenth of the sixteen, states:

"There should be maximum utilization of physical, metaphysical and spiritual
potentialities of the unit and collective bodies of human society."

All human capacities, individual and social, should be fully developed and
properly used, and this full expression is for the good of both society and
the individual. Sarkar commented that one must not forget that collective
good lies in individuals and individual good lies in collectivity, so it is
with the sole intention of doing collectively good that one will have to
devote oneself to individual good. This flows from the spiritual concept
that real individual interest and fulfilment comes from identification with
the collective or macrocosm.

The principle stresses the integrated development of all human capacities,
including the often-neglected psychic, creative and spiritual. Individuals
in the society should have the fullest scope for development of their
various talents without fear of suppression or oppression - and the
expression should elevate the society; rather such expression should be
socially encouraged. Such an approach should naturally apply to all, without
regard to sex, race, caste or any other sort of categorization. The
developed talents, skills and knowledge should not then be hoarded or used
for any form of exploitation, but rather be made the collective property of
the society that has nurtured them.

The fourth fundamental principle, fifteenth of the sixteen, states:

"There should be a proper adjustment amongst these physical, metaphysical,
mundane, supramundane and spiritual utilizations."

The resources and capacities referred to in the second and third fundamental
principles must be adjusted in a balance that will have to vary with
conditions. An over emphasis of physical culture, for example economics and
technology, will lead to mental degradation, exploitation and the
suppression of subtler human capacities - and will not elevate society. The
degradation of society will lead to socio-economic exploitation and
psycho-economic exploitation also. But also, an over emphasis on spiritual
culture will lead to material deficiency and, inevitably, exploitation. A
proper balance is required in all spheres so that there is no neglect or
suppression of essential human or universal resources.

In making this adjustment, special attention has to be paid to those
capacities that are most rare. In the natural world, rare ecosystems must be
given greater value than either their economic worth as common physical
resources, or other more common ecosystems. In the human world, rare talents
should not be waste by insisting, for instance, that a person of great
intellectual capacity performs only physical labour. In general,
intellectual talents are more rare than the physical, and creative and
spiritual talents are rarer still. So, rare talents must be encouraged
individually and collectively, as part of the pursuit of a physical, mental
and spiritual development.

The fifth fundamental principle, sixteenth of the sixteen, states:

"The method of utilization should vary with the changes in time, place and
person and the utilization should be of a progressive nature."

This stresses the flexibility necessary for Sarkar's ideas to be a code of
universal principles and not a dogma or reaction to an existing set of
conditions, such as Marxism was. The proper use of all capacities and
resources is always relative to the various environmental factors and there
has to be a continuous effort to match policy and action to these
circumstances. Changes in technology, the natural environment, culture and
even human biology will in due course do away with any narrow attempt to
comprehend the form of human needs and the conditions for progress.

The fundamental principles of Prout provide the foundation for a progressive
socialist economy and are intended to endure both flexibility and
universality in economic management to guarantee 'the good and happiness of
all'.

From New Aspects of Prout

by Jayanta Kumar

--

Decentralized economy

The most important economic issue before the leaders of all the countries in
the world today is how to increase the standard of living of their citizens
through the economic prosperity of the State in which they live. This is a
burning question, especially in those countries that are economically
backward. The matter is not very simple because in many countries people are
still directly dependent on nature for their subsistence. Only in a few
countries have people been able to utilize their knowledge and wisdom to
solve their economic problems. Most countries in the world -- whether
capitalist or communist -- have adopted the policy of economic
centralization. While the economies of the capitalist countries are
centralized in the hands of a few capitalists or a few capitalist
institutions, the economies of the communist countries are or were
centralized in the hands of the party. After so many years of economic
centralization, how successful have these countries been in improving the
standard of living of the people? To assess this, the main issue is whether
or not economic exploitation has been eradicated and the common people have
been guaranteed ever increasing purchasing capacity. The fact is that in a
centralized economy there is no possibility that economic exploitation can
ever be eradicated or that the economic problems of the common people can
ever be permanently solved.

As far as third world countries are concerned, the common people have been
led astray time and again by vested interests. Innumerable promises have
been made by political leaders, but they have proved to be nothing more than
cruel hoaxes. The policy of economic centralization stands exposed as merely
a strategy to accumulate increasing capital in the hands of the capitalists.
On the one hand the incredulous masses are kept in good humour by promising
them something negligible, and on the other hand the capitalists go on
amassing enormous wealth. If we examine why this is happening, we will find
that the cause is clearly evident. All the economic policies in the country
are formulated by a handful of people who are pillars of capitalism. There
is only one way to stop economic exploitation and alleviate the plight of
the common people, and that is to implement a policy of decentralized
economy in all the sectors of the economy. Successful planning can never be
done by sitting in an air-conditioned office thousands of miles away from
the place where planning is to be undertaken. Centralized economy can never
solve the economic problems of remote villages. Economic planning must start
from the lowest level, where the experience, expertise and knowledge of the
local people can be harnessed for the benefit of all the members of a
socio-economic unit. All types of economic problems can be solved only when
economic structures are built on the basis of decentralized economy.

The basic question is how to remove the unhealthy influence of centralized
economy. The real issue is, who will bell the cat? If the vested interests
fail to be guided by righteous intellect, then people will have to take
matters into their own hands. They will have to create circumstantial
pressure from all sides, uniting around the slogan: "Abolish centralized
economy to end exploitation; establish decentralized economy." Decentralized
economy is the only way that people can attain all-round welfare because it
will not only guarantee economic prosperity, but also pave the way for
individual and collective psycho- spiritual progress. Once people's mundane
problems have been solved, they will have greater opportunities to develop
their potentialities in the psychic and spiritual spheres. With the
establishment of decentralized economy, economic and psycho- economic
exploitation will be eradicated, the gap between the rich and poor will be
minimized and individual and collective welfare will be greatly enhanced.
This in turn will create greater opportunities for the psychic and spiritual
progress of all members of society.

P.R. Sarkar

16 March 1982, Calcutta

Prout in a nutshell 21

--

Economic transformation

The agricultural, industrial and trade policies of a socio-economic unit
will have to be formulated according to the principles of decentralized
economy. The maximum utilization and rational distribution of local
resources and potentialities to ensure full employment should be given
priority, keeping in view that there should be uniform economic development
in all regions of a socio-economic unit. The members of the cooperatives -
which are the decentralized economic enterprises of the future - should
decide the policies concerning such things as agricultural production, price
determination and the sale of agricultural commodities. Local people should
not only control cooperative bodies, but also supervise all activities
related to the local economy.

The local administration will have to assist the economic development of
cooperatives. For example, the price of agricultural commodities should be
determined on a rational basis by taking into account the price of
commodities; the cost of labour, raw materials, transportation and storage;
depreciation; sinking funds; etc. Amazingly, this is still not done properly
even now. In addition, this price should include a rational profit of not
more than fifteen percent of the cost of production. That would be the
maximum one would expect in an efficient market. In a decentralized economy
agriculture will have the same status as industry.

The industrial system must also be reorganized according to the principles
of decentralized economy. If a certain part of a country is
over-industrialized, it will impede the economic progress of other regions.
Economic decentralization will not allow such a situation to arise. In a
decentralized economy, key industries, medium-scale industries and
small-scale industries will be managed by different groups of people. In a
centralized economy -- whether capitalist or communist -- these industries
are usually managed as either private companies or state enterprises. Most
key industries (eg water, electrical grid, main telecommunications
infrastructure) should be managed by the local government but they should be
guided by the principle of "no profit, no loss". In this regard, rebates may
be available to consumer to ensure this intent. Most medium-scale industries
should be managed as cooperatives, but they should not be guided by monopoly
production and profit. The cooperative sector will be the main sector of the
economy. Cooperatives are the best means to organize local people
independently, guarantee their livelihood and enable them to control their
economic welfare. Most small-scale and cottage industries will be in the
hands of individual owners. Small-scale industries should be confined mainly
to the production of non-essential commodities such as luxury items. Though
privately owned, they must maintain adjustment with the cooperative sector
to ensure a balanced economy.

A rural economy should not depend solely on cottage industries; otherwise
the economic welfare of the rural population will be jeopardized. If cottage
industries are properly organized, rural women will also get ample scope to
earn a decent livelihood. Cooperatives and the local administration will
have to take the responsibility of supplying cottage industries with raw
materials so that they do not suffer from scarcity. This can apply in all
countries, as it is important to note that even in many developed countries
in the lesser developed regions of that that country many people are still
living at subsistence level and improved cottage industries will be vital to
their economic wellbeing.

The local administration will also have to arrange for the supply of
sufficient power to facilitate industrial production. Every region in a
socio-economic unit must strive to be self-sufficient in power generation.
The local administration will have to supply locally generated power such as
solar energy, thermal energy, bio-gas, hydroelectricity, pneumatic energy,
electromagnetic energy and tidal power, or any other power (nuclear cannot
be entirely ruled out) which is easily available locally. The generation of
power is a key industry which should be run on a no profit, no loss basis so
that the cost of production is minimized and the purchasing capacity of the
people is increased. For example, if batteries are produced through cottage
industries, power should be supplied on a no profit, no loss basis, but the
battery producers will be able to sell their batteries at a rational profit.
Here the power that is used to manufacture the batteries is not an
industrial commodity but a raw material. The power for such things as
transportation, communication, schools, colleges and hospitals should also
be supplied on a no profit, no loss basis to maintain social dynamism. The
immediate government or the state government will have to take the
responsibility to supply power as a key industry.

All kinds of industrial activities from key industries to cottage industries
should be organized with the cooperation of the local population. Care
should also be taken so that private enterprises are set up by the local
people. Local people must be given preference in employment, and all local
people should be locally employed. A local person is anyone who wishes to
merge their socio-economic interests in a certain region (be it large or
small) - they must be part of a community (be it large or small). If this
policy is followed, there will be no surplus or deficit labour among the
local people. Where a floating population exists in a particular region, the
outflow of capital remains unchecked and the economic development of the
area is undermined.

Trade in a decentralized economy should be organized by distributing
commodities through consumers cooperatives. There should be no income tax
(it will only be used as a proxy for a wealth tax if need be, and this
applies particularly to those who accumulate excess wealth and where a
ceiling is required), but there should be a tax levied on the production of
each commodity. Commodities should be exported from one region or
socio-economic unit to other regions or units through cooperatives. In the
decentralized economy of Prout, exporting local raw materials is not
supported. Only finished goods should be exported under certain
circumstances. After all the requirements of the local people in a
socio-economic unit have been met, the surplus goods may be exported, but to
a socio-economic unit which has no immediate opportunity or potential to
produce them, in order to meet the requirements of the people in that unit.
And even then, the whole transaction of importation and exportation should
be undertaken directly by cooperatives, and the exportation of commodities
must not be motivated by profit alone, but should be on the basis of
consumer needs. If there are insufficient raw materials in any
socio-economic unit to meet the minimum requirements of the local people,
the necessary raw materials may be imported from another socio-economic unit
providing the raw materials in the latter unit are surplus. Free trade
should be encouraged once self-sufficiency is attained, as this will help
facilitate increased prosperity and encourage economic parity among
socio-economic units, and lead to the formation of larger socio-economic
units.

Another important characteristic of decentralized economy is that money will
always remain in circulation, hence the economy will move with accelerating
speed. The value of money depends on the extent of its circulation. The more
frequently money changes hands, the greater its economic value. The greater
the value of money, the greater the prosperity in individual and collective
life, and the greater the opportunities for all-round welfare. There is a
close relationship between the economic prosperity of people and their
psychic and cultural development. Improvements in individual and collective
life will lead to the all-round welfare of people. If local people do not
develop a sense of self-confidence in their economic activities, then they
become mentally weak, and this inherent weakness becomes an impediment to
their economic well-being. Such a community will become an easy victim of
economic, political and psycho-economic exploitation by vested interests.
This unhealthy situation must be firmly resisted. Thus, the local language
is to be used and encouraged in all local dealings and transactions. That
is, the local language should be used in the administration, the education
system, the economy, and in cultural activities. There should be no
linguistic imperialism. All official and non-official bodies and offices of
a particular socio-economic unit should use the local language or languages
as the medium of communication.

The overall well-being of society is the ultimate goal of decentralized
economy. This is a comprehensive ideal and should be established in each and
every socio-economic unit. It will bring about economic prosperity as well
as ensure greater opportunities for the psycho-spiritual elevation of all
members of society.

PR Sarkar

16 March 1982, Calcutta

Prout in a nutshell 21

--

The slide down into the flood

The things that were the key determinates for the soundness of the financial
system - where are they now? The signals we get are that we are basically
witnessing an unfolding implosion of the USA Credit system. This sounds
extreme, but there is acute fragility of underlying debt structures. The
crisis that has been held at bay for so long has now commenced. One can be
very fearful of systemic financial dislocation and a plunging US dollar. It
is time to have one's house in order. The run on US financial assets has
commenced, although so far financial stress has buttressed the key Treasury,
agency and mortgage markets. We continue to look at this as an unfolding
dislocation in the 'risk' market, with distress at the fringe having now
clearly made it to the core of 'structured finance'. This is an enormous
problem. A WorldCom bankruptcy would be a problematic development for the
impaired CDO (collateralized debt obligations) and credit default swaps
markets. Yet, the implosion of the stocks of some major borrowers such as
AOL Time Warner leads us to fear we haven't seen the last of major
bankruptcies. At the same time, recent developments at the fringes of the
consumer credit bubble signal that consumer lending problems must now also
be factored into the equation. It appears the worst-case scenario is
unfolding right before our eyes.

In the past, we have often used flood insurance as an analogy for the
derivatives market. Inexpensive and readily available flood insurance led to
a building boom along the river. A long drought made writing flood policies
extremely profitable, and speculators rushed into the marketplace. The
building boom along the river paralleled the bubble in writing flood
insurance. There were a few instances when rain started to come down pretty
hard, and the speculators watched nervously as the local authorities
constructed makeshift levees that held the floodwaters at bay. But as soon
as the weather cleared the emboldened speculators became only more
aggressive, and more luxurious structures were built, only closer to the
waterway. The authorities were determined to do whatever necessary to
sustain the building boom, and liked to trumpet how good it had become in
building levees. They were ready to move into action with the first
raindrops, and were adored by the insurance companies, speculators and
homeowners.

Well, today torrential rain is falling, the dikes are giving way, and
everyone is getting very nervous - homeowners and those that have been
peddling insurance. The authorities maintain a brave face. The speculators
always planned on going to the reinsurance market when the heavy rains began
to fall, but that market now has a deluge of buyers and no willing writers
of flood protection. The flood insurance market is 'dislocated', with
players basically stuck with the exposure they have written. Various parties
are all the sudden very interested in the financial wherewithal of the cadre
of marketplace participants (counterparties). The 'conservative' bankers
that lent against the homes on the river are in a panic and won't be
financing anymore riverfront building. Confidence in the marketplace is
waning rapidly, which only exacerbates the rush to dump exposure to a
potential flood. With the flood insurance market in taters, the building
boom is doomed.

The closer the scrutiny, the more apparent that, in the event of a flood,
there is going to be a very serious problem - economic and financial. The
bottom line is that incredible amounts of inadvisable building ('risk
creation') has occurred over the past few years, and there is nothing that
can be done to reduce risk at this point. Unfortunately, the insurance
'industry' has little in the way of the necessary financial resources in the
event of a flood, and there is little that can be done about this either. It
's a severe structural problem - both for the financial system and the real
economy. At the same time, the local authorities have continued to throw
additional sandbags on top of fragile levees, with no one wanting to ponder
the dire consequences if this frail structure gives way. They say everything
is fine, as it always has been. The nervous homeowners are somewhat
comforted, but those in the insurance market know otherwise. They are left
to pray that it stops raining.

D. Noland

--




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