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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