05-03-2024, 11:32 PM
We see a lot of blame going around for inflation.
One thing I don’t see mentioned too often as a possible contributing factor of inflation is the natural disasters.
https://www.ncei.noaa.gov/access/billions/
“In 2024 (as of April 8), there have been 2 confirmed weather/climate disaster events with losses exceeding $1 billion each to affect United States. These events included 2 severe storm events. Overall, these events resulted in the deaths of 6 people and had significant economic effects on the areas impacted. The 1980–2023 annual average is 8.5 events (CPI-adjusted); the annual average for the most recent 5 years (2019–2023) is 20.4 events (CPI-adjusted)”
So from 1980-2023 we averaged 8.5 weather events a year that caused $1,000,000,000+ in losses.
And when you look at more recent history 2019-2023 we averaged 20.4 weather events a year that caused $1,000,000,000+ in losses.
Apparently we have a busy hurricane season forecast. And Texas is getting some major flooding right now. And tornadoes have ripped quite a few places up already this year.
Am I crazy to think the cost of recovery from more numerous weather disasters fuels inflation?
One thing I don’t see mentioned too often as a possible contributing factor of inflation is the natural disasters.
https://www.ncei.noaa.gov/access/billions/
“In 2024 (as of April 8), there have been 2 confirmed weather/climate disaster events with losses exceeding $1 billion each to affect United States. These events included 2 severe storm events. Overall, these events resulted in the deaths of 6 people and had significant economic effects on the areas impacted. The 1980–2023 annual average is 8.5 events (CPI-adjusted); the annual average for the most recent 5 years (2019–2023) is 20.4 events (CPI-adjusted)”
So from 1980-2023 we averaged 8.5 weather events a year that caused $1,000,000,000+ in losses.
And when you look at more recent history 2019-2023 we averaged 20.4 weather events a year that caused $1,000,000,000+ in losses.
Apparently we have a busy hurricane season forecast. And Texas is getting some major flooding right now. And tornadoes have ripped quite a few places up already this year.
Am I crazy to think the cost of recovery from more numerous weather disasters fuels inflation?
