It is the 14th of October 2019

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Harvey 'Messed With Texas'

Judging by the explosion in jobless claims in Texas, it appears a 'natural disaster' is a bigger problem than a 'man-made' one...

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US Military Officials Reportedly Observe North Korean Missile Launchers Being Prepared

On the heels of the release of satellite imagery showing notable instability around the site of North Korea's nuclear bomb testing facility, NBC reports that three US military officials have observed North korea moving mobile missile launchers and preapreing hard sites in the last 48 hours.

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Downtown Charleston Under Water: Irma Flash Flood Emergency Declared

While Hurricane Irma, which was reclassified as a tropical storm early Monday, spared Miami from a "worst case" scenario, the former hurricane saved some of its worst storm surge impacts for northeast Florida, coastal Georgia, and South Carolina.

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Goldman Slashes Q3 GDP By 30% Due To Hurricane Disaster

Yesterday, when commenting on the impact of Hurricanes Harvey and Irma, we noted that even before the two devastating storms were set to punish Texas, Florida and the broader economy, erasing at least 0.4% GDP from Q3 GDP according to BofA and costing hundreds of billions in damages (contrary to the best broken window fallacy, the lost invested capital more than offsets the "flow" benefits from new spending, which is why the US does not bomb itself every time there is a recession to "stimulate growth"), things were turning south for the US economy, which in turn prompted Deutsche Bank to point out that (adjusted) recession risk, at roughly 20%, is now the highest in the past decade, and that it was quite prudent for the Fed, which expects to hike rates at least once more in 2017, to pause its current tightening, especially since a period of both economic and market weakness is imminent.

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This Is What Miami Could Look Like On Sunday Morning

An analysis by Climate Central shows that the Florida storm surge from hurricane Irma could endanger millions, and result in billions in property damage.

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