Will Hurricane Irene be a "black swan" for the U.S. economy?

Originally posted by gandamak 2
I'm wondering if the east coast liberals,who don't want guns in peoples hands,will make out ok when the thugs take over the streets after services fail...gonna be a wake up for a lot of people who should have been doing some prepping

you would be surprised at how many homes have guns in new england.
they don't advertise or make a culture out of guns.

even my two sisters have gun permits and guns in their home.
you would never know, they both do volunteer work, elderly, girl scout, library, etc.

but don't threaten their kids or home.

Originally posted by SirMike

Will Hurricane Irene be a "black swan" for the U.S. economy?

blogs.reuters.com

Back in 2005, the economy was growing at a 3-4 percent clip. Today, it’s less than 2 percent. Maybe even less than 1 percent. It seems pretty clear a devastating hit on the Big Apple might well send the economy back into recession. And given the current fragility of consumer and business confidence, how likely is it that the economy would quickly bounce back into growth in a quarter or two?

(visit the link for the full news article)

Team Obama has its fingers crossed that Hurricane Irene causes - massive - damage.
-----------------
That would force the House to pass -emergency funds - to repair the damage and create
temporary jobs -.
The bad news for Obama is that Irene should be a tropical storm by the time it reaches NYC.
---------------
If Paul Krugman wants more stimulus out of the House of Representatives then he
needs to trick Japan into bombing Pearl Harbor again.

Hurricane lasts-1 day
Martial law lasts-as long as they want to control you...and New Yorkers DONT have guns in their homes the way"New Englanders" do....Id be leaving NOW

Well, the effect the hurricane will have on the economy will depend on the the scale of devastation. The current estimate of possible devastation is US$ 13.1 billion. Whatever the amount, if it can be covered by the insurance companies, it will have a positive impact. If on the other hand it is very vast, it will have an interesting impact. Unprepared for that kind of devastation many insurers may go bankrupt. If the insurance companies themselves have purchased insurance their insurers cough up or go belly-up. Those holding the stocks of the bankrupt insurers as assets will suddenly find their assets devalued. If there are banks among them, these banks may find themselves bankrupt because they don't have the reserves to cover their liabilities. We could end up with subprime-mortgage crisis versio 2.0.

But since Obama already has a cheque from the Congress for 2.4 trillion, he won't act until the whole system is crumbling and when he does, the required bailout could be to the tune of the cheque (if he simply bailed out the original insurers, it may only be a fraction of it). So come October, Obama would again have no money to pay for the committments.

Very nice developments indeed

Nostradamus:

MABUS=

-Mexico
-Australia
-Britain
-United States

www.nostradamus.org...

Quatrain 70 is when the US get's restored.

its really messy, East coast of US and Canada get hit, but I haven't really followed much news, but seeing the economy as fragile as it is now, it could be really bad, now my works starting to slow down now as we are in a work share.

reply to post by jondave

Huricane Irene is not going to be as bad as all the news is proclaiming. What it is and will provide is a good reason for our government to test and implement its policies of control of its people. Good timing for Obama who needs " Knight in shining armor" moments desperately.