. Initial damages from the deadly storm are estimated to be in the range of $45 billion to $55 billion in Florida and at least several billion dollars in South Carolina, according to Laura Ratz, an economist with Moody’s Analytics. “So far, it looks like Hurricane Ian is on track to rank among the more costly natural disasters of recent years,” Ratz wrote in a note late last week.
Although an immense effort of reconstruction and repair work will be undertaken, and that effort will bolster economic output, the benefits will filter out over multiple months, he added. “In terms of the impact on growth, it’s likely to be invisible, relative to the national economy,” he said. The magnitude of impact to local economies and to key tourism-centric industries in Florida and South Carolina are likely to be “severe,” according to Matthew Martin, a US economist with Oxford Economics.
Density of population Standard of living~ Government Stimulus. Motor way..
Hurricane Ian has roughly caused $50 billion in damages. Due to all the rebuilding that is needed, how much will this truly affect the US GDP? CNN projects that it will cause a -0.3% change in GDP but could it be more?econ_ta LuiggiDonayre EconUMD
But the usgovt is gifting $12 billion to Ukraine, $5 to Israel. Who cares about poor Americans!?
WE NEED TO STAY STRONG... STAY FOCUS AND ALWAYS STAY SAFE WE LOVE YOU ALL
Our climate could wreck our economy
print more, all sorted…
Further highlighting Superstorm Sandy's price tag of $82 billion as an absolute shakedown.
If only the US government hadn't sent $50 billion to Ukraine, this could have all been paid for...
Maybe we should not send that other $12 billion to Ukrainian that was included in the Disaster Relief Bill for FL?!?