It looks like the Haiti quake in January was just the warm-up act to the giant 8.8 magnitude shaker that hit Chile. It one of the largest quakes on record. This could not come at a worse time given the severe financial stress that is hitting the globe.
As I write this, Japan is bracing for a possible tsunami. Hawaii has been spared. The next question is how much will it cost to repair Chile’s damaged infrastructure? By all initial accounts, the damage will be in the many billions of dollars. Reuters reports that copper mines and oil refineries have been shut down. The good news is it appears Chile’s death toll will be small compared to that of Haiti’s because of much higher building standards. Also, are earthquakes going to be an ongoing expense the world is going to have to budget for in the future? Let’s hope not because the world cannot afford it right now considering the sovereign debt crisis gripping the world. By the way, according to an unscientific USAWatchdog poll question, Are you preparing for another financial meltdown? 87% of the 244 people who took the poll said “yes.”
Below are some videos and pictures of the Chilean quake damage:
Greg is the producer and creator of USAWatchdog.com. The site’s slogan is “analyzing the news to give you a clear picture of what’s really going on.” The site will keep an eye on the government, your financial interests and cut through the media spin. USAWatchdog.com is neither Democrat nor Republican, Liberal or Conservative. Before creating and producing the site, Greg spent nearly 9 years as a network and investigative correspondent. He worked for ABC News and Good Morning America for nearly 6 years. Most recently, Greg worked for CNN for shows such as Paula Zahn Now, American Morning and various CNN business shows.