Cash demand soars in Puerto Rico after hurricane hit ATMs, card systems
by Reuters — Wednesday, 27 September 2017 21:52 GMT
By Jonathan Spicer, Robin Respaut and Saqib Iqbal Ahmed
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NEW YORK/SAN JUAN, Puerto Rico, Sept 27 (Reuters) – Demand for cash in hurricane-ravaged Puerto Rico is “extraordinarily high” after power outages knocked out electronic transactions and ATMs but needs were being met for now, a Federal Reserve branch said on Wednesday.
Residents and tourists were counting their dwindling banknotes in the wake of Hurricane Maria, which crippled the electrical grid and communications network, turning the Caribbean island into a largely cash-based economy.
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Looking away from the immediate string of disasters, why hasn’t the “wise and all knowing maters of the Universe” (i.e., Gooferment politicians and bureaucrats) planned for national disasters?
Each time “we” have one, be it wildfires, hurricanes, tornados, floods, it like “we” have never experienced it ever before.
As a retired IT executive, Disaster Recovery was a recognized need. And, while getting proper attention and funding was never easy, it got done. Often the expense was minimized by proper recognition of the relative impact and possible frequency with a dash of innovative architecture.
It seems like the politicians and bureaucrats LOVE disasters (i.e., “You never let a serious crisis go to waste. And what I mean by that it’s an opportunity to do things you think you could not do before.” — Rahm Emanuel)
I mean if “we” had forward thinking Federal and State Gooferments, then wouldn’t we have some “trust funds” set up. Of course, that would require some fiscal discipline. But in Genesis 41:54 (“and the seven years of famine began to come, just as Joseph had said, then there was famine in all the lands, but in all the land of Egypt there was bread”), Pharaoh listened to Joseph and put something away for a “rainy day”.
Why can’t “we”?
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