Hashem's Decision to Destroy

How is it possible that G-d creates man, knows what will happen and then, as it were decides that He "regrets" having done this? Why is וינחם used repeatedly and what does it mean - to console or to reconsider?

The society of Noach and the society of the dispersion grapple with the balance between the needs of the individual and the collective and err to either extreme. God allows (wants) mankind to experience both extremes.

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Delivered at the OU Israel Center, October 10th, 2018/1 Cheshvan 5779