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What is the Economic Impact of Natural Disasters?

Houston (TFC) – This year’s hurricane season has been more intense than usual. The flooding in Texas was unprecedented, and Hurricane Irma slammed into the Caribbean islands and Florida, leaving devastation behind. The result is that it’s going to cost a lot of money to clean everything up. The flooding is one thing, but the hurricanes did a […]

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Maria’s ‘Other’ Victims: Puerto Rican Bondholders

San Juan (FAIR) – With crushing debt threatening to annihilate its economy (CounterSpin, 7/31/15, 5/12/17), the island of Puerto Rico was already desperate. Then came Hurricane Maria, the September storm that tore through the US colony, leaving most of the island’s residents without power and many without water. The official death toll on the island from the Category 4 storm […]

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Venezuela’s CITGO to Donate 50,000 Barrels of Oil to Hurricane-Hit Puerto Rico

Bogota (VNA) – “CITGO hopes this donation will help alleviate the suffering of the most vulnerable while electrical power is restored to the island,” the company said in a statement. The US-based CITGO Petroleum Corporation — a subsidiary of Venezuela’s state oil company PDVSA — has announced that it will donate 50,000 barrels of oil to Puerto Rico […]

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Puerto Rico: Marco Rubio Wants Pentagon To Take Over Relief Effort

Washington (TeleSUR) – Marco Rubio is pushing for Trump to name someone from the Pentagon as the point person to direct ground logistics. Florida Republican Senator Marco Rubio is urging President Donald Trump to put the Pentagon in charge of relief efforts in Puerto Rico after Hurricane Maria hit last week. Rubio is pushing for Trump to name […]

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Caribbean

Hurricane Maria Strengthens to Category 4, Threatens Caribbean

Martinique (TeleSUR) – The intense inner core is expected to pass near Dominica in the next few hours. Hurricane Maria has rapidly increased in strength to a major Category 4 hurricane as it closes on the Leeward islands. It was 70 kilometers northeast of Martinique and a little further from Dominica as of 4 p.m. local time, moving at 16 kph in a west-northwest direction. TeleSUR spoke […]