The disruption in economic activity in Houston and the Gulf Coast caused by Hurricane Harvey will have negative impacts on inflation, employment, trade, growth and the economy in general in the near term. The magnitude of these negative impacts will depend on how long it takes for the Houston economy to get back on its feet.
-27 trillion gallons of water fell in Texas and Louisiana over six days. That is enough water to fill the Houston Astrodome 85,000 times, and enough water to supply New York City for 50 years
-The amount of rain that fell in the first three days was enough to end California’s drought. A gauge in Cedar Bayou measured 51.88 inches of rain.
-Approximately 34,575 people are in shelters according to the Texas Department of Public Safety.
-It is estimated that 30-40 thousand homes were destroyed by Harvey, and an even larger number damaged.
-Moody’s estimates that as many as 700,000 vehicles and 400,000 homes were significantly damaged.
-Most homeowners personal spending will be constrained given estimates that 80% of Hurricane Harvey victims had no flood insurance.
The more you sweat in training, the less you bleed in battle.......