Katrina could cost economy $100B

[steve2470]

http://money.cnn.com/2005/09/02/news/katrina_estimates/index.htm?cnn=yes

September 2, 2005: 12:52 PM EDT


Experts fear near-term hit on economy from hurricane Katrina.(Full story)

NEW YORK (CNN/Money) - Hurricane Katrina and subsequent flooding in the Southeast could cost the economy more than $100 billion, which would make it the costliest storm to hit the United States, a company that assesses the impact of natural disasters said Friday.

Risk Management Solutions said the economic impact includes damages from high winds and the coastal surge caused by Katrina as well as the flooding in New Orleans after levees around the city were swamped by the storm.

The estimated cost of Katrina easily dwarfs the losses from Hurricane Andrew, which, adjusted for inflation, cost $43.6 billion in economic damages.

RMS, based in Newark, Calif., on Monday forecast that insured losses from Katrina would total $10 billion to $25 billion. It made that forecast before levees protecting New Orleans, which lies mostly below sea level, failed, and has yet to update it.


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[SammyWinstonJack]

1. Time to rescind those tax cuts for the GREED PIGS, NOW!

Right NOW! That includes you George you filthy pig!

[Botany]

2. E.Z.

all of that midwest grain that is shipped from that port.
the ripple from that alone should top 100 billion
Farms, farm supplies, barges, trains, dock workers, commodity dealers,
trucking, and so on.

[clydefrand]

3. Oh, BUT Bush just said earlier on CNN when asked the question

about having so much money spent on the war in Iraq if we would have enough to take care of the damage done by the hurricane. His response: Oh, we have plenty resources to take care of both! Ha! And watch...he'll call for a tax cut next week!

[Media_Lies_Daily]

4. I saw a figure of $65 billion the other day, but I'm beginning to....

...think that $100 billion may be a conservative estimate, too.

[Oreo]

5. Makes that levee repair look like a bargain

Thanks for cutting the funding