Investing in America's Resilience
As our thoughts continue to remain with the millions of Americans who have suffered from the effects of destructive storm that has hit the eastern half of the U.S., we also take comfort in knowing that Americans have a resolve and fortitude unlike any other nation. Hard-hit cities in New York and New Jersey will rebuild and prosper once again. U.S. history provides countless evidence of that.
With an initial estimate of some $20 billion in damages, there can be no doubt that the U.S. economy will be affected both today and tomorrow. In the short term, one can only expect that the economy will experience some slowdown. While the Northeast may occupy a small geographical footprint relative to all of the continental U.S., the region affected is perhaps the most populous and urbanized part of the United States, with a great deal of economic activity. Clearly, the insurance companies will be affected as millions if not billions of P&C claims will undoubtedly affect underwriting profitability. Segments of retail will be affected, 33but the extent of that damage will only be known in the days and weeks ahead as we get more accurate damage data....365 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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