More havoc on the cards
AccuWeather predicts Hurricane Harvey, which has wreaked havoc in Texas, to be the most costly natural disaster in United States history.
Dr. Joel N. Myers, founder, president and chairman of AccuWeather, and sometimes called the “father of commercial meteorology” stated, “This is the costliest and worst natural disaster in American history. AccuWeather has raised its estimate of the impact to the nation’s gross national produce, or GDP, to $190 billion or a full one percent, which exceeds totals of economic impact of Katrina and Sandy combined.
“The GDP is $19 trillion currently. Business leaders and the Federal Reserve, major banks, insurance companies, etc. should begin to factor in the negative impact this catastrophe will have on business, corporate earnings and employment.
The disaster is just beginning in certain areas. Parts of Houston, the United States’ fourth largest city will be uninhabitable for weeks and possibly months due to water damage, mold, disease-ridden water and all that will follow this 1,000-year flood.”