Right now, Hurricane Irma, after devastating large and small islands up and down the Caribbean, and taking lives, is preparing to hit Florida in a matter of hours.
Hopefully, if you or your loved ones live in the path of the storm, you've hightailed it out of the storm's path and are someplace dry and safe.
If you're hunkered down or way out of the way on the other side of the country, now is a good time to consider the impact of this massive storm on your investments.
I'm not just talking about a home or vacation house that might be in harm's way – but all of your investments.
No matter where you live, and no matter the size of your portfolio, Irma is about to have an outsized impact on your bottom line.
Let me show you what I mean…
926.8 Billion Reasons to Be Concerned
Florida is the fourth-largest state in GDP terms. Its 2016 current-dollar GDP was $926.8 billion, about 1/15th of the total GDP of the United States.
The state also boasted a 3.0% growth rate in GDP in 2016; that's twice the meager 1.5% the United States managed as a whole.
It's also a major gateway for international trade between North America, Latin America, the Caribbean, and the rest of the world. Over the last decade, Florida's merchandise trade has nearly doubled to $143 billion in 2016. It accounted for $68 billion in goods shipped from and through its borders in 2016, ranking seventh in the United States for exporting goods produced.
Its major seaports account for 900,000 jobs, $117.6 billion in total economic activity, and generate $4.2 billion in local and state tax revenue.
Additionally, Florida is home to over 47,000 commercial farms and ranches covering 9.45 million acres. The state is responsible for billions in fresh produce, chiefly $1.17 billion in oranges (accounting for 60% of all the oranges in the United States).
Irma will destroy parts of Southern Florida and could paralyze the entire state, bringing all that healthy economic activity to a grinding halt.
There's no telling what will happen to the commercial and economic infrastructure, including those very busy seaports, its 12 international airports, the 270,000 miles of public roads, 11,000 bridges, 4,000 miles of oil and gas pipelines, the thousands of oil and gas storage facilities…
This economic paralysis would be on top of the billions of dollars in property damage a storm of this size and strength is capable of inflicting.
Of course, we know all too well what that looks like…
On the Heels of Harvey
Hurricane Harvey just deluged Houston, leaving chaos in its wake.
Obviously, experts on the ground are still assessing the extent of the damage, but here's what we think we know…
About the Author
Shah Gilani is the Event Trading Specialist for Money Map Press. In Zenith Trading Circle Shah reveals the worst companies in the markets - right from his coveted Bankruptcy Almanac - and how readers can trade them over and over again for huge gains. He also writes our most talked-about publication, Wall Street Insights & Indictments, where he reveals how Wall Street's high-stakes game is really played.