Posted on 08/28/2011 11:08:51 AM PDT by Hojczyk
WASHINGTON (AP) -- Insured damage from Irene will range between $2 billion and $3 billion, and the total losses will likely be about $7 billion, according to preliminary estimates by Kinetic Analysis Corp. a consulting firm.
Both figures are less than had been feared, a bit of reassuring news for a fragile economy.
Still, the long-term costs of Irene will likely grow as storm-ravaged areas deal with lost business, insurance claims, dislocated workers and transportation disruptions -- costs that will take months to fully calculate.
The preliminary estimate from Kinetic Analysis, based in Silver Spring, Md., suggests that Irene will have caused far less insured damage than the $6 billion the industry paid out after Hurricane Isabel struck the East Coast in 2003.
(Excerpt) Read more at finance.yahoo.com ...
Poor Obama more bad luck....
This is excellent news.
Kudos to the local and state leaders who had plans in place and executed them to protect their residents.
Hurricanes are unpredictable. Best to be prepared for the worst and be pleasantly surprised than to ignore common sense and end up like New Orleans.
More hurricanes on the way.
YEs, but Obama can now brag that with his diligent work, astute leadership and tireless dedication that he saved over 70 million lives!
4.5 million without power. Wait til it gets dark and the looting starts. Thanks to gun control, those poor saps won’t have any way to defend themselves.
The problem with the “without power” meme is that in most cases it takes a matter of hours to get it back on. But the numbers just seem to keep adding up. The people without power a week from now are the ones that are in a bad way.
Looters are always opportunists so we’ll see what happens tonight.
I’m sure Al Gore is disappointed.
It sure is a mess here in NW NJ! No power since last night, trees and wires down, roads closed everywhere due to flooding.
Our generator is humming keeping fridge and freezer going and most importantly...the coffee pot, iPad, iPhone running
Nada, zip. No calling out the NG, shooting looters, all the stuff that luckier Presidents got to do. And with his media on his six, he could have screwed it up and no one would have ever known.
Some TV talking heads get to stand out on a windy beach, there was some tape of some cars driving thru puddles, some power lines got blown down. Big Whoop!
DAMMIT!
Unexpectedly
Note to self:
Buy case of barf bags for media spin next week....check.
Unexpectedly.
Common sense will tell you unequivocally that unless you have some dilapidated levees ready to collapse, there is zero chance you will "end up like New Orleans." Katrina was cat III when it hit land. Anywhere else but NO it would have been a serious but basically forgettable hurricane.
Lets get real folks.
Glad it wasn’t as bad as this one.
1938 Hurricane slams East Coast Public Domain Footage Newsreel [complete with sound fill in and suspense music]
http://www.youtube.com/watch?v=M9Rnlnm_AQQ&feature=related
Damage from Hurricane Irene feared to be less than it appears.
Amen! BTW, people have forgotten that the damage to states like Mississippi from Katrina was much worse than the damage to Louisiana. It was the breaching of the levees that had not been properly maintained by the federal government that caused the flooding in New Orleans.
Poor Obama...and just when he decided to lead us through the crisis...mean ole Irene (GOD) doesn’t cooperate. What a bummer. On the other hand, since he IS off the golf course...maybe he can help the multitude of White House staff rehang the pictures from the rumbling of Bush’s Fault(GOD) or he could listen to the Koran as it is read from the National Cathedral (as he ponders why those three crosses “jumped” off the building), or he could superglue the outstretched right arm of Christ back on the crucifix at St. Mary’s Catholic church in Old Town....
Yes, for those who have eyes to see and ears to hear, isn’t it curious this church (est.1795) is the oldest Catholic parish in Virginia. According to local lore, George Washington made the first donation to fund the church. That would be the same George Washington that on his inauguration day (1789) dedicated this nation to GOD while he prophetically warned, “We ought to be no less persuaded that the propitious smiles of Heaven can never be expected on a nation that disregards the eternal rules of order and right, which Heaven itself has ordained” (George Washington’s First Inaugural Address. available: http://www.sonofthesouth.net/revolutionary-war/general/inauguration-george-washington.htm).
It was dark with no power here last night. No looting of any kind in coastal New Jersey.
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