The Cost of Harvey
Cumberland Advisors Market Commentary
by Cumberland Advisors
Aug. 30: Damage estimates from Hurricane Harvey continue to rise as the storm moves and stalls, dropping record rainfall. And there are predictions of more rain this week. Estimates of damage have grown to $100 billion or more. Katrina estimates ranged from $105 billion to $118 billion. Another perspective is that Harvey’s total cost is less than estimates of the cost of a standoff on the debt ceiling in Congress.