A pretty good argument for at least some deficit-funded infrastructure spending

Seeing Sandy coming.

From the 10 September New York Times, Mireya Navarro wrote:

With higher seas, a common storm could prove as damaging as the rare big storm or hurricane is today, scientists say. Were sea levels to rise four feet by the 2080s, for example, 34 percent of the city’s streets could lie in the flood-risk zone, compared with just 11 percent now, a 2011 study commissioned by the state said… 

The city and its partners are incorporating flood-protection measures into projects as they go along.

Consolidated Edison, the utility that supplies electricity to most of the city, estimates that adaptations like installing submersible switches and moving high-voltage transformers above ground level would cost at least $250 million. Lacking the means, it is making gradual adjustments, with about $24 million spent in flood zones since 2007.

On Reuters today, Emily Flitter writes:

Almost every street below Times Square in the city's Midtown district lost power on Monday night after an explosion at a Consolidated Edison (ED.N) power station, and it may not return for up to four days. A number of these areas had already been hit by flood waters.

Regardless of the shape of the bond market; regardless of the expected return on investment; regardless of whether you are a Keynesian or a Monetarist; some infrastructure investment is a really good idea to do sooner rather than later.

Sandy. Photograph: Getty Images

Alex Hern is a technology reporter for the Guardian. He was formerly staff writer at the New Statesman. You should follow Alex on Twitter.

Photo: Getty
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Fight: Arron Banks versus Mary Beard on the fall of Rome

On the one hand: one of Britain's most respected classicists. On the other: Nigel Farage's sugar daddy. 

Tom Lehrer once said that he would quit satire after Henry Kissinger – him of napalm strikes and the Nixon administration – received the Nobel Peace Prize.

Your mole is likewise minded to hand in hat, glasses and pen after the latest clash of the titans.

In the blue corner: Arron Banks, insurance millionaire and Nigel Farage’s sugar daddy.

In the red corner: Mary Beard, Professor of Classics, University of Cambridge, documentarian, author, historian of the ancient world.

It all started when Banks suggested that the fall of the Roman Empire was down to…you guessed it, immigration:

To which Beard responded:

Now, some might back down at this point. But not Banks, the only bank that never suffers from a loss of confidence.

Did Banks have another life as a classical scholar, perhaps? Twitter users were intrigued as to where he learnt so much about the ancient world. To which Banks revealed all:

I, Claudius is a novel. It was written in 1934, and concerns events approximately three centuries from the fall of Rome. But that wasn't the end of Banks' expertise:

Gladiator is a 2000 film. It is set 200 years before the fall of Rome.

Your mole rests. 

I'm a mole, innit.