Tuesday, 30 August 2011

Economic effects of Hurricane Irene

Well, there had better not be any more natural disasters!
According to Michael Ruppert Gen Russell Honore said on CNN that 40% of small businesses between the Carolinas and Vermont might fail.
It is possible that this might still prove to have a similar effect on America’s economy; it may well turn out that this will break the ability of the US government to respond to future disasters.
Just look at the effect of the Christchurch earthquake on local councils - they are simply unable to find insurance in Canterbury

FEMA almost out of disaster funds

NEW YORK (CNNMoney) -- The Federal Disaster Relief Fund, the pot of money used to help communities and individuals hit by disasters, is nearly depleted.

That's bad news for victims of both Hurricane Irene and other disasters like the tornadoes that hit earlier this year.

Federal Emergency Management Agency Administrator Craig Fugate said Monday that the agency's fund has fallen to less than $800 million. With less that $1 billion on hand, the agency is only authorized to pay for emergency repairs. That means that long-term projects, like rebuilding roads, schools and other damaged structures in the tornado-ravaged southeastern states and Joplin, Mo., will have to wait.

For article GO HERE

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