Wednesday, December 19, 2012

Hurricane Sandy’s effect on the economy

Hurricane Sandy was a tragic disaster that affected 4.8 million people. This is the second costliest hurricane in U.S. history. Though it may not have the biggest effect on our economy, it will still put a dent in our economic flow. 4.8 million people were unable to make purchases and were basically useless to economic profits. The NYSE and NASDAQ were closed for two days due to the storm. This caused a lot of losses for shareholders. But the primary people affected by Hurricane Sandy were the ones that lived in the area and owned small businesses. These people are looking to restore their homes and their incomes. They can look forward to Small Business Association Disaster Loans. The government gives the city and businesses the resources necessary to recover and make a transition back into business. Ultimately, disasters bring our economy backwards in terms of lending out money for restoration, while the businesses are unable to bring in revenue.  

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