Since you posted, these fires have grown many fold. One thing that strikes me about this is the ease and rapidity with which tens of billions of dollars, maybe more, has been wiped out. Not to suggest that the monetary value of the 'event' compares to the human suffering (though few will shed tears for those who can afford multi-million dollar homes), but the fact is that this will have pretty profound economic consequences for the country in the form of increased costs of insurance, if it is even available, and that will further push up the price of homes.

And the government will respond by: 1) throwing a lifeline to the insurance industry while letting people fend for themselves when it comes to housing, and 2) printing more money to cover the cost of bailing out the insurance/banking bros.

This will result in even more inflation.

So even though on the face of things this may look like a bunch of rich folks taking a hit, no, that hit will be put on us.

Socialism for the rich, capitalism for everyone else. That really is the American system.