Hurricane Sandy, which just hit New Jersey's coast this afternoon, has already killed roughly ten people and caused millions, if not billions, in property damage. The storm is expected to move into Pennsylvania tomorrow and then go north through Maine by Saturday. Now "post tropical" super storm Sandy,depending on its severity, could have a slew of long term effects both on the economy of the Northeast and on the upcoming presidential election.
Most importantly, Sandy will cost tens of billions to the Northeast's economy and states. Businesses will suffer from days of lost revenue and spoiled inventory. Also, Wall Street will be closed for two days due to the weather, resulting in two full days of lost trading. States will have to spend billions repairing public infrastructure and on top of all of that, the amount of property damage will be staggering. On a slightly positive note, some businesses and grocery stores have benefited from a short rush for supplies and rebuilding damaged property will provide many unemployed construction workers with jobs.
For more pictures of Hurricane Sandy, go here.
1 comment:
Hurricane Sandy will definitely make the elections different this year. It would have been interesting to see what would have happened if Sandy had hit closer to election day. The state/federal government could have been faced with the decision to postpone election day or not, but that doesn't really matter since we still have a week. Because of preoccupation with the Hurricane, the voter turnout in the key east democratic states will probably lessen by a lot. And though the states are democratic enough that Obama would win those states anyways, it could mean that he would lose the national popular vote. If he wins the majority of electoral votes but loses the popular vote, he will be the first incumbent to lose the popular vote while still winning the elections.
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