this post was submitted on 08 Oct 2024
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Economics

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Hurricane Milton could cause as much as $175 billion in damage, according to early estimates (www.cnbc.com)
submitted 2 months ago by MicroWave to c/economics
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KEY POINTS

  • Hurricane Milton’s once-in-a-century potential could cause damage of more than $50 billion, with the potential to leave behind devastation approaching $175 billion or more in a worst-case scenario.
  • “A 1-in-100 year event is estimated by some to result in $175 [billion] in losses for landfall in the Tampa region, and $70 [billion] in losses in the [Fort] Myers region,” Jefferies analysts said.
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[–] NocturnalMorning 11 points 2 months ago

It's so heartwarming to hear about the economic damages of hurricanes instead of the human cost.

[–] Anticorp 3 points 2 months ago

It's a real tragedy what's going on down there. Everyone has all of their furniture and belongings on their lawn because it was all destroyed in last week's hurricane flooding. Now a week later a Cat 5 hurricane is bearing down on them and will turn all of those belongings into missiles, to damage and destroy their homes, cars, and lives. There are a lot of ordinary people who are just trying to live their lives, who are now fleeing for their lives, with little to no resources for the flight. It's a true tragedy.

[–] skeezix 3 points 2 months ago

The insurance companies are ready with their check books open, pen in hand.

[–] grue 2 points 2 months ago

Eh, Scientology can afford it.

(Seriously though, I wouldn't be surprised if Clearwater uses its cult connections to finagle more than its fair share of relief funds and such and comes out less out-of-pocket than most.)