His starting assumption is that we are currently saving more than we should. As a result, we are not knocking down old building and rebuilding them fast enough. Earthquakes tend to knock down older buildings, and forces us to rebuild some of them.
So, if you accept his argument that Americans are in a savings glut, then earthquakes make sense.
We have tried the stimulus thingy a few times and we always end up driving fuel import prices higher. That says to me that we do not suffer a savings glut, we suffer oil shortages.
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