More on the Economic Effects of Superstorm Sandy

hurricane sandy

Superstorm Sandy's economic effects are popping up like the dark clouds of a hurricane. In The Perfect Storm we predicted Sandy would negatively impact Q4 GDP by 0.5 percentage points. The Philadelphia Federal Reserve's survey of professional forecasters recently downgraded their Q4 GDP estimates by 0.4 percentage points to 1.8% annualized Q4 GDP growth. There are some estimates which are as low as 0.5% Q4 GDP, much of the downgrades due to superstorm Sandy.

Now the data is rolling in, like the storm surge itself. Sandy hit the New Jersey coast on October 29th. Even while the damage, loss of power, business closings and economic activity would seem to go negative after that date, October industrial production was hit with a full percentage point of Hurricane Sandy related contraction.

Our Nation is Baking in the Heat and So Is Our Economy

tempmap62912We've been so busy with bail outs, unemployment, corruption and the destruction of the middle class, we as a nation seem to have put global warming on the back burner. With the country baking, temperatures so high assuredly there will be deaths, let's revisit the economic impact of climate change. Below is NASA's witness global warming in 26 seconds video.


The Economic Populist's Most Popular Posts of 2011

fathertimefiredIt's that time of year. As we say goodbye and good riddance to 2011, it is time to review what grabbed the most attention here at The Economic Populist. From ridiculous political tricks to protesting people, 2011 saw more of the same.

As we type out the new year, here at The Economic Populist we're forever grateful to our readers and participants who make the site happen.