More havoc on the cardsĀ
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 āfather of commercial meteorologyā stated, āThis is the costliest and worst natural disaster in American history. AccuWeather has raised its estimate of the impact to the nationās gross national produce, or GDP, to $190 billion or a full one percent, which exceeds totals of economic impact of Katrina and Sandy combined.Ā
āThe 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 Statesā 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.āĀ
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