


The official blog for singer, writer, director and human rights advocate Aisha and her affiliated web sites.
More Artificial Growth
President Obama at the Hurricane Center
This week, U.S. stocks rallied on news the U.S. economy grew 2.5% based on American consumer spending. However, a sobering report has since been released, stating the unexpected growth in the third quarter does not mean the economy has recovered, as it was due to spending by consumers trying to repair their homes and businesses after the damaging hurricane, Irene, battered the East Coast of the United States.
Therefore, the government should not relax and deem the economy has turned the corner, as many indicators suggest it has not. Irene created tens of billions of dollars in damage, battered the insurance companies and reduced productivity in the nation. The 2.5% appears to be from people attempting to rebuild their lives, having to repurchase items and on a scale they normally would not, to replace what the hurricane destroyed.
American unemployment is still stubbornly high and that is a massive problem the government has not corrected for almost 3-years. For the nation to truly recover, unemployment must significantly decrease. U.S. exports are also another problem, as they are nowhere near their potential.
The government during the tenures of President Bush and President Obama, did not make manufacturing goods their focus, but spent an enormous amount of time on risky financial instruments, some of which were unmasked as ponzi schemes and other types of flat-out fraud. The problems have been compounded by corporations hoarding stimulus money.
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Massive hurricane Irene, which slowly churned over the East Coast of America, moving through multiple states, has left 21 people dead and approximately $45 billion dollars in damage in the United States, due to flooding, damaged buildings and economic shutdowns. Over 4,000,000 people have been left without electricity and for some it will be two weeks before it returns.
The hurricane left 5 people dead in the Caribbean and created roughly $3 billion dollars in damage to the Bahamas, Puerto Rico, Turks and Caicos and the Dominican Republic. Tens of thousands of people have been left homeless. It has become one of the costliest hurricanes in history. The hurricane is said to be heading towards Canada.
U.S. President Barack Obama
The U.S. government is warning people to be vigilant in the coming days, as the swelling of rivers in America could mean additional flooding. A few prominent individuals mocked the seriousness of the hurricane as overblown, but any storm that leaves over two dozen casualties and nearly $50 billion in damage is serious.
As someone that has lived through 5 hurricanes, including Andrew, I can attest, it is not something to be taken lightly. After hurricane Wilma, there was no electricity for two weeks, which was an unpleasant experience and not just due to having no internet or regular television service, but the pervasive darkness. Still, others have had it worse (see: Hurricane Katrina).
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The earthquake in Haiti and the floods in Pakistan reveal, the world is not prepared for major scale disasters. Emergency preparedness needs to become a greater priority on an international level. Countries are often interconnected through national ties and financial links. A catastrophic, massive disaster in a major international city could debilitate several other countries.