Tsunami deaths soar past 212,000

[transplant99]

Simply impossible to fathom. The destruction is like nothing I have even seen or at least that I can recall.

Is this the biggest single loss of life from a natural event ever recorded?

Very sad

[nfotiu]

http://www.alertnet.org/thenews/newsdesk/L09712286.htm

number 7 as it stands.

[Cowperson]

The interesting thing is that this humungous loss of life doesn't appear to be much of an impact item economically beyond tourism.

Three thousand people die in a moment in New York and the global economy collapses even more than it had been to that point, the damages measured perhaps by starting at 1 trillion dollars.

Two hundred thousand die in this region and, if I'm not mistaken, even their local stock markets are up.

Cowperson

[Agamemnon]

Originally posted by Cowperson@Jan 19 2005, 04:52 PM
The interesting thing is that this humungous loss of life doesn't appear to be much of an impact item economically beyond tourism.

Three thousand people die in a moment in New York and the global economy collapses even more than it had been to that point, the damages measured perhaps by starting at 1 trillion dollars.

Two hundred thousand die in this region and, if I'm not mistaken, even their local stock markets are up.

Cowperson

To be completely cold, the Tsunami will probably provide some decent room for economic growth in the region. Thousands of shanties have to be re-built, fishing boats re-commissioned... new everything. That's got to be a promising business environment (ignoring existing regional issues).

Really, when the West loses infrastructure, its worth Billions. When the coastal fishing peoples of Indonesia lose infrastructure... they can always go gather up more tin and driftwood and 're-build'.

[Flames89]

Originally posted by Agamemnon+Jan 19 2005, 01:04 PM--></div><table border='0' align='center' width='95%' cellpadding='3' cellspacing='1'><tr><td>QUOTE (Agamemnon @ Jan 19 2005, 01:04 PM)</td></tr><tr><td id='QUOTE'> <!--QuoteBegin-Cowperson@Jan 19 2005, 04:52 PM
The interesting thing is that this humungous loss of life doesn't appear to be much of an impact item economically beyond tourism.

Three thousand people die in a moment in New York and the global economy collapses even more than it had been to that point, the damages measured perhaps by starting at 1 trillion dollars.

Two hundred thousand die in this region and, if I'm not mistaken, even their local stock markets are up.

Cowperson

To be completely cold, the Tsunami will probably provide some decent room for economic growth in the region. Thousands of shanties have to be re-built, fishing boats re-commissioned... new everything. That's got to be a promising business environment (ignoring existing regional issues).

Really, when the West loses infrastructure, its worth Billions. When the coastal fishing peoples of Indonesia lose infrastructure... they can always go gather up more tin and driftwood and 're-build'. [/b][/quote]
Congratulations - you win the "Rational Thought, But Going to Hell Anyways" Award for the day!!!

[Agamemnon]

Agreed. Of course, if you go over my post history, you'll find my ideology runs to the contrary of the 'realist' economic perspective I've put out here, but I guess I'm going to hell anyway...

The truth hurts.

[nfotiu]

Originally posted by Cowperson@Jan 19 2005, 04:52 PM
The interesting thing is that this humungous loss of life doesn't appear to be much of an impact item economically beyond tourism.

Three thousand people die in a moment in New York and the global economy collapses even more than it had been to that point, the damages measured perhaps by starting at 1 trillion dollars.

Two hundred thousand die in this region and, if I'm not mistaken, even their local stock markets are up.

Cowperson

American stocks slumped post 9/11, but overseas stocks went in the other direction for the year or so following. What were the real economic costs of 9/11? I think a lot of the costs were do to Bush's fear mongering and thirst for revenge.

Beyond Tourism is kind of a silly thing to say anyway, when you are talking about mostly coastal communities being affected. Tourism is the industry for most of these places, (at least the ones I am familiar with I guess).

[Cowperson]

Originally posted by nfotiu+Jan 19 2005, 06:27 PM--></div><table border='0' align='center' width='95%' cellpadding='3' cellspacing='1'><tr><td>QUOTE (nfotiu @ Jan 19 2005, 06:27 PM)</td></tr><tr><td id='QUOTE'> <!--QuoteBegin-Cowperson@Jan 19 2005, 04:52 PM
The interesting thing is that this humungous loss of life doesn't appear to be much of an impact item economically beyond tourism.

Three thousand people die in a moment in New York and the global economy collapses even more than it had been to that point, the damages measured perhaps by starting at 1 trillion dollars.

Two hundred thousand die in this region and, if I'm not mistaken, even their local stock markets are up.

Cowperson

American stocks slumped post 9/11, but overseas stocks went in the other direction for the year or so following. What were the real economic costs of 9/11? I think a lot of the costs were do to Bush's fear mongering and thirst for revenge.

Beyond Tourism is kind of a silly thing to say anyway, when you are talking about mostly coastal communities being affected. Tourism is the industry for most of these places, (at least the ones I am familiar with I guess). [/b][/quote]
Tourism is important in a few areas but not most.

USA and overseas stock markets dived into the third week in September, 2001 then rose fairly dramatically into, I believe, January before collapsing in humungous fashion globally through to the first week of October, 2002.

Markets were sharply lower globally one year after 9/11, a drop of about 20% or more in Canada and the USA as an example. Europe was off even more, maybe twice as much.

As well, stock markets took large losses every time there was a terror attack somewhere in the globe until, I think, about May 2002. Markets don't react much to attacks now.

What part of the business conditions of the time would you ascribe to a normal blow-off of the excesses of the 1990's versus the compounding effect created by diving consumer confidence in the wake of the events of 9/11? Hard to tell but I don't think $1 trillion is unrealistic given what you might have seen in the absence of 9/11. Just guessing on my part although I'm sure our learned economics people would love to dive in!!

Cowperson