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The Impact of Hurricanes – Massive Costs to Victims, Insurers, Taxpayers and the Economy

Blog Sep 12, 2017

9-12-17 The Impact of Hurricanes – Massive Costs to Victims, Insurers, Taxpayers and the Economy, by Lynette Zang

 

Today we’re looking at the impact of hurricane Harvey on the victims, insurers, taxpayers and the economy. This could easily be a metaphor for the economic hurricane headed our way.

Doppler radar enables us to watch the evolution of a hurricane and history tells us the most likely outcome. Peeking beneath the skin of the markets, along with 6,000 years of history does the same for the monetary system and it is quite clear, there is a financial hurricane headed our way.

When a hurricane appears to be headed our way we have some choices; ignore the signs or get prepared. Which would most likely be in our best interest? We can “hope” it will not hit, but in reality, there is no stopping mother nature.

Are you prepared for the upcoming financial storm?

SLIDES AND LINKS REGARDING THE POTENTIAL ECONOMIC HURRICANE :

Economic Hurricane

Slide 1

https://www.bloomberg.com/graphics/2017-costliest-insured-losses/

http://www.newsweek.com/hurricane-harvey-texas-donald-trump-greg-abbott-aid-package-billions-659021

Economic Hurricane

Slide 2

http://www.insurancejournal.com/news/national/2017/08/31/462846.htm

Economic Hurricane

Slide 3

https://www.nytimes.com/interactive/2017/08/24/us/hurricane-harvey-texas.html?mcubz=1

Economic Hurricane

Slide 4

http://www.corelogic.com/blog/authors/tom-larsen/2017/09/hurricane-harvey-identifying-the-insurance-gap.aspx#.WbSLm8iGNPY

Economic Hurricane

Slide 5

https://www.housingwire.com/articles/41229-affordability-in-question-the-national-flood-insurance-program-needs-14-billion-more-to-function

https://www.cbo.gov/publication/53028

Economic Hurricane

Slide 6

https://www.gao.gov/highrisk/national_flood_insurance/why_did_study

Economic Hurricane

Slide 7

http://www.houstonchronicle.com/business/article/FEMA-considers-faster-way-to-buy-out-Houston-12181846.php#photo-14069895

Economic Hurricane

Slide 8

http://www.marketwatch.com/story/retail-gasoline-prices-jump-to-a-2-year-high-after-hurricane-harvey-2017-09-01

https://www.bloomberg.com/news/articles/2017-08-31/harvey-s-impact-on-world-oil-market-underlines-growing-u-s-role

Economic Hurricane

Slide 9

http://www.zerohedge.com/news/2017-09-07/wti-jumps-after-harvey-prompts-us-crude-production-collapse-biggest-inventory-build-

http://www.zerohedge.com/news/2017-09-01/us-crude-production-stalls-oil-rig-count-rolls-over

Economic Hurricane

Slide 10

https://fred.stlouisfed.org/series/FYFSD

https://fred.stlouisfed.org/series/GFDEBTN

 

 

Thumbnail Photo We believe that everyone deserves a properly developed strategy for financial safety.

Lynette Zang

Chief Market Analyst, ITM Trading

Sources & References In This Article

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