How natural disasters affect the economy

Steve & Ted
Wednesday, November 15th

Moneytracker Don Grant talks about the economic fallout from disaster events like California wildfires and hurricanes Harvey and Maria.


Transcript - Not for consumer use. Robot overlords only. Will not be accurate.

9870 injured June 30 came in as soon as we are Steven den in the morning that's right. Prairie fire coughing as you're not drinking prairie fire called reworked as I am right now your boss doesn't want you. Now three big thing. Members of which because teachers union agreed to a tentative contract. Suspect in custody after woman's body found in a northwest Wichita home. The man dead after a drive by shooting in self Wichita. Street big things even dead on tape and assess. So far this morning out in traffic things. Well traffic conditions aren't the best. And that the conditions out there were still got some visibility issues with some fog in the area not as bad as it was earlier in the week. Roadways little bit greasy because of some yes and we've got some very heavy traffic in parts of the Wichita right now we've got debt. Right now at Kellogg and Andy I parkway. Rich wrote this area eastbound Kellogg right there traffic very heavy right now. Coming into the city that's right Fredricka K and assess rusty budget Robbins drove Goodyear tire. That it downtown market and Waterman big east every street Mullen on my liberals are dot com. Girl for complete starts here. It's becoming sunny and. Breezy today with a high of sixty degrees. Mostly clear tonight the overnight low 37 Thursday. Mostly sunny tomorrow's high is 58. Now mostly cloudy 54 degrees and we have a gusty north wind at. Gusting up to about 31 miles per hour. Did you know that forty to 50% of your body heat is lost to the top hundred hit the see the great selection of warm winter hats for men and women and half and jets as the clock tower in the Plano. At ten Jack 601 less Douglas opened six days a week. 649 now was Stevens head in to big news coming out of left the Middle East Boeing and fly Dubai signed a land. Our agreement today. Fort 225. At 737. Max airplanes. With a list price and value of 27. Billion dance. The deal represents the largest ever single aisle jet order. By a number of airplanes and total value from a Middle East carrier. It is it lay and barked I. Signed at the Tony seventeen Dubai airshow in flight device home town. The Coca agreement includes a commitment for 175. Max airplanes. And purchase rights for fifty additional matches. When finalized the purchase promises to sustain tens of thousands of direct and indirect jobs. In Boeing's US factories and network of suppliers need at last three words. Network of suppliers Spirit Aerosystems which ballots were building the 730 so many small businesses like be here though don't kid that's good news this morning. For a answers. Slumping energy stocks for the broader market slightly lower Tuesday wiping out small gains. From the day before the sharp drop in crude oil prices weighed down the energy sector. Standard and Poor's 500 index fell five points while the dal. Lost thirty points NASDAQ fell nineteen points. Airbus. Is to sell 430. Airplanes. Two US. The US firm indigo partners for 49 and a half billion dollars. In the European firm's biggest deal ever direct it certain airlines Boeing and Airbus this morning but indigo. Yeah announcement came at the Dubai airshow. You includes 2738320. Neo was and 157 A 321 dios. Indigo partners. Don't know. Do some research on net that describes my mood. Indigo. They may just by Emily some back here at Frontier Airlines basically. As underage in them quit at private equity firm controlling Frontier Airlines in debt a Chilean low cost article jets' mark. Those currently in the copy that I only we take about the particular. The only takes I don't want to give too much information. Yeah. That's what we have to get here villain attracts 71 that mark company yet because I thought we just kept filling in cracks. 651 now Stephen Taylor radios virginal call. USA today on the radio hosts have a weather affects us all Doug grant CNB the money tractors to regulate on. Well in other hurricane season Stephen has been a doozy a doozy Texas Florida and Puerto Rico. Were hit hard to add to that the earthquake and wildfires across the states that are going to cost American taxpayers. As we rebuild and after that devastating damage it's gonna cost us a lot natural disasters across unites states from 2000 to 2015. Fifteen years cost taxpayers more than 67 billion dollars according to a report by the Center for American Progress. Just this year the national oceanographic and and atmospheric administration or no lock. Has reported. Fifteen weather and climate disaster events. With losses exceeding one billion dollars each that doesn't mean they're just one billion means are exceeding one billion dollars. Across United States had included two flooding events one entered a one drought one freeze seven severe storm events. Three tropical cyclones and one wild fire event. As of early October. 282. People. Had died. While the bills are still piling up so we don't know the final tally but Moody's analytics estimates that hurricane Maria would cost between 45 and 95 billion dollars just for damage to Puerto Rico alone. And as you may know yesterday they just asked for 94 billion dollars so that was pretty close estimate there. Moody's estimates that hurricanes. Hermit and Harvey combined. Cause more than 150. Billion dollars damage in Texas Florida and Georgia. The recent wildfires in and around that northern California have caused an estimated 63. Billion dollars in property damage. Now we don't know how much of what will be picked up by taxpayers about we we do we will all pay through increased cost of insurance coverage. In the future. Tens of thousands of acres were scorched and many of them supporting vineyards as aides say it's a California wines are gonna jump in price to that's what's got me concerned. We will all pay one way or another has local officials and request for help and events that go beyond the scope of their capabilities. At the eerie you know well with their governors down those governors communion and escalate the request of the federal. Emergency management administration FEMA aid will vary. In amounted scope depending on the damage in what the cause. FEMA funds go to you know go for public assistance individual assistance and hazard mitigation each year. Congress sends money to FEMA is disaster relief fund. In the larger major declarations fund in fiscal 2017615. Million was sent four disaster relief. And six point seven billion was sent. Two major declarations account now it's evident that more money will be requested. In probably granted to. By congress and we're all paying for of course via questions you can give me called number 63422. Two to India idealist on with a mark looked like Dow futures down 111. Yeah yeah you mentioned energy that's part of it and it's just you know as part of the cycle a bit but you know you know used to think about it we used to hear hundred point drop that it would be scary when we were at 101000. You know that was that you know a good chunk that but. A 100 point drop now is is is nothing. Today is national education support professionals day how teacher today on no honors the contributions of school support employees. The lunch lady. It plunged eight only the school nurse. The people who drive the buses. All the people that who are not there. It was great how come. Do what you want and how this school person and no points that I liked how this important day so while Adams looks a little. Getty what just think about experience a place. Okay all right. National insulating elicit support perfect today hit. Thank you gentlemen at 655 now Stephen said he didn't add some who said that is Ed desert code three we had a new yeah. 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