News Worms
News Worms


Harvey, Irma could ding U.S. economy for combined $290 billion

Harvey, Irma could ding U.S. economy for combined $290 billion

Myers, founder, president and chairman of AccuWeather, thinks even that figure could be conservative and estimates the combined clean-up bill for Harvey and Irma could reach $290 billion. It comes just 16 days after Hurricane Harvey roared into Rockport, Texas, with maximum sustained winds also at 130 miles per hour.

Maybe the least covered story is that the Red Cross, one of the leading fundraisers for Hurricane Harvey relief, has such a bad record in providing accountability (i.e., where'd the money go?) from past disaster relief efforts that groups in Houston are organizing on their own to meet needs following the storm. Irma is the strongest Atlantic storm on record, and the two are the only pair of Atlantic hurricanes to record wind speeds of more than 150 miles per hour at the same time. The country averaged fewer than six big-dollar storms, flood, fires and freezes a year between 1980 and 2016, according to the National Oceanic and Atmospheric Administration. At its peak, Harvey shut 27 percent of USA processing capacity. The destruction caused by the Hurricane Harvey is nearly twice more than Irma's.

Trump also said he plans to ask Congress to expedite tax reform efforts in the wake of damages caused by the hurricane. Besides, other coastal locations also face threats.

There were at least five deaths in Florida while Irma advanced through the state causing pain and destruction.

The winds for a Category 4 hurricane on the Saffir-Simpson Hurricane Wind Scale range from 130 miles per hour to 156 miles per hour. Hurricane Katrina, which overwhelmed much of New Orleans, brought between $108 and $250 billion in damage to the region. Although the unusually large storm unleashed its fury on the entire peninsula, its centre moved up the state's west coast, striking the mainland with the greatest force when it made landfall at Marco Island, near the city of Naples.

With tourism accounting for as many as 1.4mn jobs, 112mn annual visits and $109bn of income to the United States, a significant amount of this is expected to be lost following the effects of the Hurricane. In short, the word "natural disaster" doesn't entirely cover how it is human beings have chose to put more and more people in harm's way.

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