a word before we rebuild. i'm michael smerconish in philadelphia. the deadly storm ian now categorized as a post-tropical cyclone is now moving inland across north carolina. as communities from north and

south carolina continue to recovery from rains wind and cataclysmic flooding. ian slammed into south carolina just shy of category 5. the current death toll of at least 45 people likely to come in the days as search and rescue cruise go through blocked floodwaters, as of this morning, 1.3 million homes and businesses still in the dark. according to the latest estimate ian may have caused as much as $47 billion in insured losses which could make it the most expensive storm in the state history. the figure comes from core logic, that's a research firm that estimates losses from natural disasters. the estimates, combined ensured losses through private insurance, which typically covers wind damage. and fema's national flood insurance program that covers water damage. their estimates as of thursday, wind damage, $20 billion to $32

billion. flood damage, $6 billion to $16 billion. so the low end of the combined estimate would be $28 billion. before we spend, let's ask ourselves, is there a lesson here that we keep refusing to learn, when the same disasters keep striking in the same regions? on wednesday, florida governor ron desantis sent a letter to president biden formally requesting a, quote, major disaster declaration and federal aid under the stafford act which covers emergency relief and assistance. many remember the irony move when desantis was a freshman congressman when sandy hit he voted against the new york region labelling it a put it on the credit card mentality. that's part of the reason we find ourselves nearly $17 trillion in debt. and yet, here was desantis, asking in his letter for 100% of federal cost share for debris removal and protective measures during the first 60 days and 90% thereafter. as well as 90% for all other

categories of public assistance. the only hard figure that he mentioned estimated the cost of debris removal alone will easily exceed $600 million. these disasters, they keep striking and the money keeps flowing. florida has been hit by three of the top-ten costliest hurricanes since 1900 adjusted for inflation. andrew, 1992 cost $54.3 billion. irma, 2017, another $57.5 billion. michael in 2018, $28 billion. this week came devastating images of sanibel island, home of 6,500 just south of where ian made landfall. portions of the three-mile causeway connecting sanibel to the mainland, destroyed. occupants of about 200 homes had staid behind. authorities have already confirmed 12 deaths there. following his first aerial tour of the hurricane destruction, governor desantis declared that

sanibel had been hit with, quote, really biblical storm surge. but it's not the first time that the island has been hit. in fact, it's the 1921 hit that severed it from now what is captiva island. and no hurricane had pasted within 75 miles of sanibel, averages one in seven years each of which posed significant zach to life and property there. and three different storms caused mandatory evacuation orders. in august 2004, hurricane charley with winds of 138 miles per hour was the most destructive hurricane to hit the city of sanibel since it incorporated in 1974. it caused ten deaths and an estimated $26.6 billion in damage adjusted to today's dollars. the very next year, 2005, the eye of hurricane wilma passed within 75 miles of the city of

san sanibel. of course, this is horrible and so sad and so many people's lives have been just been disrupted. but is it surprising anymore? and this is not just about hurricanes. the same holds for california wildfire regions or tornado alley. should we still be rushing to rebuild in the same place every time it happens. especially where climate change is believed to be responsible for making our weather more extreme. i want to know what you think. go to my website at so smerconish.com and answer should we rebuild in disaster-prone areas joining me is steven strader, professor at villanova university, on environment. he wrote this piece for cnn.com, the hurricane problem in florida could have been avoided. dr. strader, thank you for being here, how could it have been al avoided? >> well, one of the things we've

learned over and over again, as we build in the coastline, as we build into regions that highly prone to hazards like tropical storms and hurricanes that we're seeing the losses occur over and over again. and there's a lot of reason for that, but there are lessons to learn and be better and improve on going forward. >> it seems like all the conversation is about how we build, not whether and where we rebuild. i guess no politician wants to be the one to stand up and question and say, hey, hold on, we really going to erect homes and office buildings, et cetera, et cetera, in the same location? >> yeah, i mean, one of the things that we know, after these disasters there's momentum and inertia to building back to where we were. because it's more than just houses and buildings that were lost. it's people's homes and the desire to build back there. and get back to a sense of normalcy is incredibly strong, particularly after disasters. i hope that sometimes we can

step back and take a good look and say, okay, is the decision to move back the smartest thing to do for the mex next event th along. that's a difficult decision, because there's a lot of money to be made after these disasters to construction workers and communities. and economies -- local economies depend on sort of this type of development. >> i made reference to hurricane andrew, three decades ago. you know the data on andrew. it was particularly destructive. you say the climate in florida has gotten even worse because of a combination of factors. what are they? >> yes. so, i think our atmosphere is changing. global climate change is happening. we see that the ingredients that make up these tropical storms are intensifying, the ones that we do see occur, like hurricane ian. but on the other side of the disaster coin, what we see is rapid development that's been going on for over 100 years now

along florida's coastline. we're replacing mangroves and wetlands with new subdivisions. and that type of growth isn't sustainable. when those two items come together, we're really looking at a double-headed monster that is something that's threatening not just people living along the coast. but also in other regions we've seen the same thing happening, as you said before with wildfires and drought conditions. >> in other words, a fixed climate change in florida in particular, they've had an explosion of growth in the last three decades since andrew. but this same logic could be applied to other parts of the country, right? >> yeah, i think florida is sort of a perfect example where we've seen growth over the last 30 years. we've seen a 60% increase of the number of people living in florida. we've seen almost a doubling of the number of homes being built in florida. and if you look at the entire population in the united states,

a majority lived in what we call coastal counties. so with the east coast or atlantic coast, it's problematic for hurricane risk, and now unfortunately, sea level rise but it's not unique to hurricane. you see people moving to the desert southwest water sources are becoming more scarce. and people living in wildfire-prone regions in the western part of the united states. this is, i would say, not a tropical storm problem, but every hazard problem. >> so final question, what's the ask? what is it that you are here to frame for conversation? >> well, i think the ask here is that we have to be smarter about where we build. we have the ability. we have success stories of homes and communities being destroyed after events. i think about the greensburg, kansas, tornado, 95% of that town was destroyed. and they rebuilt it to a town

relying on renewable energy, on green energy. in general, that was a positive thing that that community decided to do. that's a lesson to be learned here. it's that we can be better. we can improve, it might not matter to the individual that wasn't hit by hurricane ian. but it might matter to that next person when the next hurricane comes along. >> dr. strader, stick around for a second. here comes some social media, maybe i'll call on you, kathryn, put it up on the screen. the problem is defining disaster prone. repeated wildfires, tornado alley, coasts, they're all disaster prone. we do need to stop building on land, barrier islands that is not meant to be bit on. i guess my question for you, dr. strader, do you distinguish between those tornado-prone area, versus a hurricane-prone area, versus a wildfire area, or do you see them all the same? >> you can distinguish between them. one thing that we've learned,

and we learned this after hurricane andrew. and we're going to see that unfold over the next few days with hurricane ian is that improved building codes work. we see if you improve the quality and you follow the building codes to a higher standard, you can save lives. and these homes won't be complete losses in some cases if they were build after hurricane andrew as florida's building code was improved. we have seen that in the plains with the tornadoes. we can build storm shelters. there's things that we can do. it's not this or that. there's a lot of gray area. some places we don't need to move into, like along the coastline, but we're not going to stop people from living in florida, for the most part. >> right. >> so, we have to learn to live with the disaster and how and where we do it. >> we're working hard. we've got to work smart. thank you, appreciate your time. >> thank you. >> continue to give me social media reaction during the course of the program. tweet at me, facebook, however,

i'll read responses as we move on. go to the website smerconish.com. this is this week's survey question -- should we rebuild in disaster-prone areas? up ahead, president biden warned oil companies in advance not to jack up prices in response to hurricane ian. but when prices go up during a disaster, is it unwelcome gouging? or unnecessary market correction and function? plus, the function has made it the careers of mayors and governors alike. what did florida governor desantis and people like biden learn from their presidecessorp. and the rate of immigrants in the united states double e nearly those born here. it's one of 100 charts and statistics from best-selling author galloway. he's here to discuss his brand-new bookalled "adrift." in real time

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when prices rise in the aftermath of a disaster such as hurricane ian is because of exploitive gouging or national market prices. this week, president biden trying to get out of price gouging not to manufacture a price surge. >> do not, let me repeat, do not use this as an excuse to raise gasoline prices or gouge the american people. >> oil and gas executives, do not, do not, do not use this storm as an excuse to raise gasoline prices or gouge the american public. >> the oil industry pushed back, a spokesperson for the american petroleum institute wrote, quote, gasoline prices are

determined by market forces, not individual companies. and claims that the price at the pump is anything but a function of supply and demand are false. there are anti-price gouging laws on the books in the 48 states and the district of columbia. and plus, sellers have no incentive to expend extra effort to ramp-up supply which causes shortages for all. joining me now to discuss is raffy mohammed, he's a pricing strategy consultant and author of the book "the art of pricing." and a harvard business review article called "the problem with price gouging laws." remind us the case of john schepperman, post-katrina, the gentleman with generators. what's the short version? >> the short version, he was entrepreneurial, he got a bunch of generators, he went to florida and tried to sell it for

profit and arrested for gouging. get is that unethical or someone adding to supply in a manner that gives people options? >> what's your answer? >> i think that that was a very minor, minor case. and it should be encouraged for the free market to add supply in that type of manner. >> in other words, you think that the john scheppersons among us looking now at hurricane ian should be saying, hey, how can i deliver goods even at a marked up price to all of those folks who are suffering? >> i think that's one part of the solution, i think the bigger solution is really it's a sort of public shaming of companies that do raise prices. biden and mayors and governors have been very clear not to raise prices. but i think the big game-changer these days, sort of moderating price increases is society is more politically correct. they're more willing to come out and say this is wrong. >> right.

>> but the big game changer is social media. and social media is really the governor to reducing these drastic price increases. who wants to risk their brand on a couple thousand on a profit? >> if i go into a convenience store that has limited supply of flash light, i might buy far more than i need. but if the price has been jacked up, all of a sudden, maybe i'm buying one instead of buying five. i'm leaving more for the next guy. >> that's true. but a jacked up price also, one can argue, that's a solution that's unfair. to the poor. that's a solution - right. >> -- that favors the wealthy and encourages -- but encourages life and death to be really a matter of how much you make. and i'm not so sure that our society wants to condone that policy. >> okay. so is there any middle ground here where the prices can be raised, and, therefore, we prevent hoarding, but somehow we're protecting the poor at the same time?

and if there is, what's that solution look like? >> well, i think we should be happy with the evolution. you don't see a lot of -- you don't really see a lot of complaints about gouging. it's not prevalent. and i think consumers are now attune to price -- to demand and supply pricing due to uber, bruce springsteen $5,000 tickets. we understand supply and demand. and prices are moderating their price increase due to sort of the moral pressure on them. so that's one thing. and i think that's really -- without the government doing anything. but also i think in the article you that mentioned, i suggested subsidizing -- the government subsidizing certain types of products, for instance, water and gas and bread and milk. and what you would do, sellers would sell at the normal price, and they would receive a government subsidy for the amount of products they would sold. this would encourage the invisible hand to go and get more supply. >> i was on a libertarian

website on this issue. by the way, a lot of economists out there are of the opinion that we should not have so-called price gouging restrictions but on the libertarian i visited they said, which would you rather have, expensive water, or no water at all, your thoughts? >> i think economically speaking, raising prices is the right answer. however, i believe this is a societal issue, not an economic issue. and i would lean towards a society that aims that life and death is really not about how much you make, you know, annually. >> so -- dr. mohamed, i'm leaning on my experts today for assistance with social media. stick around, put it up on the screen, kathryn, i'll ask my guest to assist me. what do you got? won't deny there are gougers. some will always exploit others but most is supply and demand as

people stockpile often unnecessary items, says chris bigelow. and dr. mohammed, it reminds me for reasons i still don't understand, at the outbreak of the pandemic, the toilet paper was gone. every time there's a catastrophe, we see the film footage of cleared out shelves in grocery stores. so react to that response. >> well, this is the tension between the two options, a high price can solve that but there are societal issues to that. low price encourages this type of hoarding. there should be restrictions as costco certainly did with toilet paper at covid. with these two extremes, economic versus societal issues that we're trying to merge together and this is why i think social media is so important today to publicly shame companies that do increase price. and encourage them to serve the community by adding supply. >> okay. but i don't want to villainize the guy who is now going to

deliver generators where they're needed down south. if he's making a good buck, god bless him is my attitude. thank you so much for being here. >> thank you, michael. still to come from 2008 and 2017, the share of adults who reported talking with neighbors a few times a month, it fell from 71% to 54%, just one of many eye-opening statistics and charts compiled by best-selling author scott galloway from his latest book which asks why america is, to use his word -- adrift. he'll be here. and disasters can force politicians to cross party lines to cooperate like hurricane sandy when new jersey governor chris christie famously thanked president obama suffering some slings and arrows as a result-what dynanamic might emee between presidential hopeful ron desantis and the current holder of that office? i want t to remind you, go to m

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when weather disasters like hurricane ian strike, state and federal politicians, they're put to the test. so, what might be the impact for presidential hopeful florida governor ron desantis of how he deals with his first hurricane? when leaders rise to the occasion, they get a huge boost. think previous governor jeb bush who handled so many storms so well that he was nicknamed governor hurricane. or subsequent florida governor rick scott who rode the storm there to become a regular weather channel. during katrina, bobby jindal grew to such prominence he was elected governor.

think george h.w. bush who 1992 loss was partly blamed to insufficient response to hurricane andrew. or any number of city lawmakers from bloomberg. and katrina to bush's doing a heck of a job and kathleen blanco who didn't even run for re-election. there are apgs comblik economic that come from the federal government. after hurricane sandy in 2012, chris christie famously embraced president obama and paid a political price. joining me a professor of political economy at stamford graduate school of business. among his field of expertise. voting and the politics of natural disasters. dr. malhotra which is more, the

response? >> what we found, politicians are known for sending in the cavalry after the disaster takes place but really basically never prepares in advance and this creates bad incentives this goes against two benjamin frank lynn said an ounce of prevention is worth more than a pound of cure. in this case it's more than the ounce of prevention. >> why do you think that's the case? >> i think there's one of many reasons. one is the relief is salient so disasters are curved a lot by the media. you oftentimes see the weatherman in the midst of a hurricane being pushed around by the wind. you see the politicians in their windbreaker helping out communities. fema sends checks directly to victims of disasters. whereas, i think the coverage of the preparation is a lot less.

so how much coverage you have seen recently of everything that's been going on with bipartisan infrastructure act months after that act was passed? probably not very much. so, i just think -- >> right, there's a -- there's a bias in support -- >> in preparation. >> there's a bias in support of that which we can see, and, you know, if you're building the bridge, chances are, we're not watching that. by the way, as you're speaking, i'm thinking about 9/11. i'm thinking about the fact that president george w. bush, one month in advance of september 11th got a pdb famously titled "bin laden prepared to strike in the united states." at least that's what i think it said. yet in the aftermath, we had very high numbers at least as a result of pursuing al qaeda at least initially in afghanistan and then iraq. later it took a turn. but that fits your model. does covid fit your model as

well? >> well, i think the interesting thing about covid is president trump's response was not viewed as very strong. but if it had been strong, i think the theory would say that he would have benefited. and he would not have been punished for the preparation. so contrast trump to george w. bush. george w. bush, the image of him with a bull horn rallying the country together, that's what people remember and approval ratings went to 90%. not ignoring intelligence reports. and not trying to prevent the attack before it occurred. >> okay. so politically speaking, and i want to make sure i'm talking about politics now because we want governor desantis and president biden to work well together, save people's lives, fix everything that needs fixing. but politically, speaking, what's the advice they should take away from your research? >> well, i think ron desantis is a very astute politician, and he's doing what the advice i would take which if you notice, he hasn't been talking about the

immigration flights. he hasn't been talking about cancel culture. he's put all of that aside for the past week and worked very closely with the biden administration in a very bipartisan fashion because i think desantis knows and forgive the metaphor a rising tide lifts all boats. if a disaster is viewed more positive, he'll be more likely to be re-elected in 2022. and it will benefit president biden as well. >> you know, you've explained to me why now, and i'm not making fun of it or minimizing it. now i get why the officeholders all do have the windbreaker and the state insignia and so forth. because the world is paying attention to how they respond much more so than whether they did something that potentially could have been averted. and you can't avert a hurricane at cat 5. but politically speaking i think they understand exactly what you're saying. let's stick around a second

here's a tweet that came in during our chat. because we have the attention span of gnats, i don't think any of this will have much of an impact. given all the issues this country faces if you haven't made up your mind on who or what you're voting for you've not been paying attention. dr. malhotra, you say what to that person? >> well, there could be something to it. a lot of our evidence of disasters mattering for politics have occurred in much less polarized eras. and i think it is to be seen in the post-trump era, do the swing voters pay attention to disaster management? or are there so few swing voters that people are just so polarized they're voting based on their party? we'll see. >> yeah. and i would say with five weeks on the clock from this tuesday, as i delivered a commentary on it exactly this, we have no idea what issues we will be talking about three or four weeks from now. thank you so much for being here. i appreciate your expertise. >> thank you. gang, make sure you're voting go to smerconish.com right now.

cannot wait to see the outcome of this poll question -- should we rebuild in disaster-prone areas? still to come, in the 1970s, 92% of 30-year-olds were bringing home bigger paychecks than their parents did at that same age. today, only half of them do. it's just one piece of a trtroubling data mine by scott galloway, his new book is called "adrift: america in two parts." scott galloway is here, he's been dubbed as the howard stern of the business world. d that's a good thing. it's clically proven to moisturize dry skin for 24 hou. aveeno® enjoy two pancakes, two eggs your way, and two pieces of bacon for only $5. the two by two by two from ihop. hurry in and enjoy this deal for a limited time. download the app and earn free food with every order.

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next guest, scott galloway, it's called "adrift: america in 100 parts." he uses everything from dating to crime to immigration. scott galloway joins me now, a professor at nyi, a serial entrepreneur and podcast host. and his previous books. scott, great to have you back. the book is great. the thesis is this, america is most like itself, when it has invested in a strong middle class. why did you express it in 100 charts? >> yeah, we've had the alphabet for 1500 years. we've had images for several mel len millenia. we can process an image, in sum, to originate, a good professor will tell you if we can get this across in pictures it's a more emotional resume.

i love charts and graphics, and building it through comharts it felt like an interesting way. >> from the conclusion before we can get to intercourse, we need discourse, and our discourse has become so coarse. is reminded me of a screen you had from the "the new york times" based on what makes a most traffic -- there it is, the probability of making "the new york times" most emailed list by emotion elicited. what does that tell us? >> well, the species is like is a tyrannosaurus rex, we're drawn towards violence and movement. we have some of our most talented resources and tech companies who have a process hit pitting up against one another. we have campus environments where we're no longer comrades. but we're trying to find soft tissue and call out other people, thinking we can gain some sort of social status by

turning on each other. we are geopolitically stronger than ever been. we're food independent, energy independent, and with the vaccines, we're constantly arguing each other, a third of the party thinks each party, 54% of democrats worry that their kid is going to marry a republican. you take the third grade in recess, michael, every shouting words. america say horror movie. the call is coming from inside the house. we need to recognize that americans will never have better allies than other americans. it's crazy we look at other each as enemies. our enemies are pouring over the borders in ukraine. and by the way, we're not speaking to one another, we're not joining boys and girls scouts. the problem is the course has

become way too coarse. >> is the american dream alive and well when 30-year-olds -- this is another one of my favorites, on the screen -- there it is, a percentage of 30-year-olds earning more than their parents did at 30. that really speaks to me. offer some thoughts. >> that's arguably the most important chart in the book. and that is what is the fundamental agreement between a society between a attack and a tax system and laws and popular. at the very base of that is that your kids will be better than you. for the first time in american history the first time, michael, a 30-year-old man or woman isn't doing as well as their parents. what's the point of prosperity and the nasdaq if our kids aren't doing as well as we are? that's the fundamental compact in our society and it's broken down for the first time. >> were things just too good? do you have to happen out at a certain point, we're just not

all going to be able to exceed the socioeconomical status of our parents? >> i don't think so. i think one of the illusions we have fomented is the illusion that these topics are out of our control. when i wrote the fore, it started as a love letter and cautionary tale. these are problems of our own making meaning we can unmake them. we have deliberately taken the wealth of people under the age of 40 from 19% of gdp to 9%. and this isn't an accident. these are things beyond our control. the two biggest tax breaks we have voted in mortgage interest and capital gains. who owns stocks? wealthy people. who rents and makes money from current income? young people. we've let tuition rise 1500%. people my ageal plod their school when they embrace this. reject the culture. once i have my degree, i like it

when my school becomes more elite and rejectionist. once i own a home, i'm going to the local board and ensure that new housing doesn't get approved. and then i'm going to weaponize government through donations that smaller companies can't emerge. my generation simply put, the greatest transfer of wealth from young people to old people in history. we did it. it's not by accident. it's not out of our control, we can absolutely change it back. >> on a related subject, you know immigration is hot as we get towards the midterms. put on the screen, kathryn. there it is entreprentrepreneur share of adults who started their first businesses. you compare immigrants and u.s.-born, they are risk takers, that is your point. >> my parents came over here on a steamship. they spent nine days on a steamship with two suitcases and 150 bucks. wouldn't you know, they were fairly success here. it just makes sense people who risk coming here are more risk

aggressive. if you're a child of an immigrant you're twice as likely to shift up income classes. you're twice as likely to start a new business. imagine, michael, you were a football team. and we have access to the top 100 draft choices every year. and we decide to demonize those people and ignore those draft choices. america is literally shooting itself in the foot and taking a gun and putting a gun in its mouth. adobe, microsoft, google, mastercard, not only run by immigrants but first generation indians. and also i would believe they're more patriotic to america than many of our native-born american tech entrepreneurs who were the first to sort of criticize government. and not recognize that their companies are nothing but a thin layer put on the massive investment by the middle class whether research of universities.

>> and i thought you were on the verge of saying and would have toppled government if they had succeeded on a particular day. we won't go there now. final chart, put this up on the screen. this is the one that spoke to me. it's about participation on a community level. church membership. boy scout membership, rotary club, adults who talk to neighbors. we're totally self-sorting, scott, that's a problem. >> we're a social species, the key to happiness, meaningful relationships. add advice to young persons, especially young men, every day you need to get out of the house and try to build something great, agency and contact with others. there's nothing wrong with talking to strangers. there's nothing wrong with initiating conversation. there's nothing wrong with going up to a stranger and being civil and trying to establish a friendship or potentially something to a result of a romantic relationship. those soldiers that went into the hills of the philippine islands, the japanese soldiers accomplished nothing. nothing great is accomplished

alone. we need absolutely to talk to our neighbors. we need to join church groups. we need to join softball leagues and smelling and touching each other. greatness is in the agency of others. tell your kids, demand your kids get out there and start meeting and talking to strangers. >> i love the blush elon musk calls you an insufferable numskull. and christopher hutchinson, "vanity fair" yours truly describes awe as a rock star. that's not my favorite. my favorite, british "gq" they say you're gordon gekko with social conscience. bring it up, let's see what we got. >> seems like galloway might be advocating for more socialism if he thinks the root of our societal problems is widening economic inequality over the years. is that really the best solution

here? quick response from you? >> capitalism is the way to go. socialism is when it's controlled production. when we have capitalism on the way up, and socialism on the way down when the pandemic hits, they . >> can'tlism on the way up, socialism is cronyism. we can produce prosperity and taxes that sits on a bed of empathy this reinvest in the most noble entity of the history of mankind, the u.s. middle class. >> this is can'tlism full stop. >> thank you so much. i appreciate it. >> t thanks, michael. still dom, morore of your bt and d worst tweets, the final results of thehe poll question. can't wait to see sewhow it tur out. go to smirz.com and vote.

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from smerconish.com. should we rebuild in disaster-prone areas? wow. 80/20 let's call it with 20,000, i should say so say all the people who don't live in those areas, right? because that's who we are, who voted. one social media reaction if i have time.e. we give billions to other countrtries for different reaso and your question is to rebuild here? where are our priorities, says bob roth. we don't seem to learn the lessons, do we? i hear your point. it's a good one. see you next week. by two froihop.

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hoist . good morning, everyone. it is saturday, october 1st. i'm amara walker in atlanta. >> good morning. i'm boris sanchez in fort myers, florida. you are live in the cnn newsroom. and our top story today, florida reelinda