Why Embakasi Explosion In Not A Loss

In most cases when a fire or damage happens, you will often hear estimates of so and so billions in damage. ETC. Githeri media have also taken up the trend when something goes awry of saying an estimated so and so billion in damage. But they dont really know what that means.

Those figures given out in developed places are usually insurance payouts estimates. You will find that 100% of knuthia’s who put up concrete towers have no insurance. So even if the building goes down, the entire loss is on them. Renters also have no insurance on their households so when fires happen, there is no insurance payout. So you cannot make a loss estimate of so and so billions since no one is paying out anything.

It just happened, we are sad and teary, but there is no loss. The only equivalent would be the burning down of a homeless camp in the developed countries. when those homeless people camps are burned down, they do not make estimates of so and so billions were lost because in reality, there is no loss to the financial system.

https://x.com/citizentvkenya/status/1753325608807879066?s=20

Yani hii kitu ilikuwa kwa rooftop. UFALA.

what kind of retarded argument is this! so nyumba yangu ya 1m ikichomeka, na haikuwa na any insurance, my financial loss is 0 ??

Yes, the loss to the system is zero. Nobody care about you as an individual, its just a debit on your financials, but their is no loss to the financial system in general. Asin, you do not have an impact on the economy in any meaningful way. Everyone is already paid, and you have absorbed the entire cost and risk. No one else is holding the bag but you. Sad but useless in a broader sense

So all the cars destroyed have not been insured according to your argument

The cars are a small fraction compared to the cracked buildings, lost lives, medical expenses, trauma, jobs lost, and most importantly, the time value of money. It’s a sad loss, but not really important

Won’t this mean that the affected person will now have lesser disposable income as a result of absorbing the loss.

Lesser disposable income means less money in the economy and therefore a loss to the economy…

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That’s their problem. The risk is contained to them. Nobody will be lesser for their loss.

It’s the same with homeless camps. Sure they have money and some have businesses where they generate income. But they’re not counted as part of the formal economy and have no modern value in the real economy

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Interesting view.

https://vm.tiktok.com/ZM6nR16xJ/

It’s not sadder because it’s on cnn. The cnn is not the gauge for the seriousness of the issue

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