Hurricane Harvey Disaster for America, Fuel Prices, Economy Sinking into Recession

By Greg Hunter’s USAWatchdog.com (WNW 299 9.1.17)

Hurricane Harvey has ravaged Texas and Louisiana, but losses will spread across the United States. Everyone will feel the impact in some way.  Hurricane Katrina losses totaled $175 billion, and Harvey could be twice that or more.  (Texas Rep. Pete Sessions: Harvey Impact Could Reach $1 Trillion.)  Oil prices will spike, and banks and insurance companies, ultimately, will face big losses on flooded housed and vehicles.

At least 25% of refinery capacity has been shut down by Hurricane Harvey. Experts say that this will cause fuel and petroleum product prices to spike.  How high will prices go?  Will there be shortages?  It will take weeks and months to find this out, but higher prices are locked in now.

The latest figures from ShadowStats.com are out, and economist John Williams says it looks like a recession is “imminent or one is already underway.”

Join Greg Hunter as he looks at these stories and more in the Weekly News Wrap-Up.

(To Donate to USAWatchdog.com Click Here)

After the Wrap-Up: 

Financial writer and gold expert Bill Holter of JSMineset.com will be the guest for the “Early Sunday Release.”

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Comments
    • Frederick

      No you read it wrong Actually 8 in 9 have no flood insurance

    • Deanna Johnston Clark

      Generally I thought your old CNN has done pretty well covering the flood…better than the Weather channel for human interest stories. The Trump bashers were checked by wiser heads I expect.
      The word has to be out there that their bs is so negative it only depresses people. I stopped reading Roberts because of the hopelessness and jesses’ cafe because of the negative hellfire preaching. Maybe his wife from Heaven can tell him to cut out slamming all humanity with religious sermons on his blog. “You’re all selfish and no good and the world stinks and the sky is falling!” over and over every day. OK, we get it. And we can’t live with sepia glasses on…sepia lens with gold rims.

      • Donald

        For those who are tired of web sites that favor fake news (such as Google News, or Bing News, and so on), you may want to try the search engine DuckDuckGo.com and use it to find news to read. Much better news stories are listed there and it doesn’t monitor what you do so like Google does. For those who aren’t aware of it, Google records everything you do and sends ads to you based on where you have gone. That’s how they make their money. But all those ads slow the response of your computer and often are just too much. Since I made the change I feel like the guy who said “free at last, free at last!!!” My computer works better, I have far fewer annoying ads to deal with and I get much better news.

  1. Frederick

    Lack of interest ? Are they kidding ? Everyone who voted for Trump would love to see Hillary investigated and many would love to see her locked up myself included

    • Deanna Johnston Clark

      At least as far back as the Waco/Foster/missing evidence at her own feet. Our justice dept. has much more to answer for than the latest shenanigans.

  2. William Stanley

    Mr. Hunter:
    That was undoubtedly one, if not the most, informative newscasts I have ever witnessed! I have no idea how you find the time to do all that you do; I’m just grateful that you do. By the way, rather than getting worn down by the battle, you seem to be gaining strength week by week. I’m in awe.

    • Russ McMeans

      Kudos sir William, Greg is a true news junkie like me, but with a nice website and microphone. News energizes us and since we have faith in God, we don’t get overly depressed like many folks out there. Greg’s beginning part about water soaked real estate and the repercussions is very accurate and far sighted.
      May I venture a bit more as a contruction/ handyman?
      Much sheet rock, appliances, etc will be needed thus causing price spikes. Oh and illegal immigrant labor plus their benefits to add on top of the pie. And Greg is very correct about our economy not being able to take another hit. The cherry on top of that beautiful pie would be a big earthquake in my beloved Calitopia. That would be a big bummer but at least I would get to see Jerry’ Brown’s dream come crashing down. I’m prepared for that day. The liberals will go crazy. And God bless Willie Nelson for that great song……

  3. Corleone

    Hurricane Harvey is a blessing in disguise for the construction companies and casual workers. Texasan economy needs another hurricane of this type for its growth.

    • FC

      With over 80% of homes with no flood insurance, there will be no blessing to speak of here, only misery.

    • Russ McMeans

      Be nice! Hush. It’s true but don’t say that in front of people who lost their homes and belongings. Think about it. We are connected to our homes and stuff.

    • Chip

      Yeah so let’s just nuke portions of the state and that will create a huge economic boom as we rebuild the affected areas (eyes rolling)… Chip

    • freebrezer

      Corleone – There is no blessing at all when one group of people are totally devastated and left with nothing while another group benefits from their misfortune. Yes these folks will get very low interest loans to help rebuild … but who in their right mind wants to go further in debt? This is an absolute economic negative not positive. And yes certain groups will do extremely well – appliance stores (washers, refrigerators, etc) will do a brisk business, along with construction, furnishing stores etc,. … but when certain segments of business benefits from the misfortune of another group that have lost everything (in some cases) I can not call that a blessing.

    • Roger

      Sure, let’s rebuild in designated flood zones and subsidize all the construction with tax dollars. Wonderful. Surely man can circumvent God’s natural law that water flow downhill.

      If anyone is looking to create jobs for meaningful work there is a wall that could be built and jails for you-know-who.

  4. Sayonara

    Hurricane Irma is anticipated to be a Cat 5 and is heading for the east coast next week. We could have another major weather calamity that severely takes down the economy. This is getting really scary. I think our Black Swans have finally arrived to roost. Things are getting ugly at an accelerating rate. Get prepared as we are in for times we could never imagine.
    And Mueller is investigating what?
    We are governed by extremely sick, mentally disordered and evil people PERIOD!

    • Russ McMeans

      The ultimate cherry on the pie: Kim shoots another missile, but over our country while we’re going through another hurricane. God would be speaking then to us, but Mueller and Trump haters- which is most of congress, won’t hear it. They’re blind.

  5. Tom

    President Trump donates $1 million of his own personal money to help the victims of Hurricane Harvey.
    What did the Clintons do? They stole billions from the victims of the Haiti earthquake.
    Hopefully the Democratic Party will be a small third party by 2020

    • Frederick

      Where is the donation from the Bushes or Dick Cheney?

  6. Paul ...

    Seeing as how the banksters and their Deep State buddies have the technical capability to control hurricanes (i.e. hurricane Harvey, Sandy, etc.) … I bet they are planning to direct hurricane Irma into the Gulf to hit more oil refineries … but Irma probably needs to get close enough to Florida so they can use their microwave towers to block it from going up the East Coast … the banksters just can’t afford to allow the price of oil to fall to $20 dollars per barrel!! … http://www.zerohedge.com/news/2017-08-31/irma-turning-monster-hurricane-highest-windspeed-forecasts-ive-ever-seen

  7. adrian illingworth geelong

    https://www.iheart.com/podcast/Bill-Cunningham-20785499/
    Go to 100.00 to hear Dick Morris on new book Rogue Spooks.
    Better title would have been, Rogue Stooges.
    The 3 Stooges / Morell/ Brennan/ Clapper!
    Stooges of who? Sorry Soros /Hillary / Obama,
    the original Stooges of old Sol Alinsky!

    • adrian illingworth geelong

      https://www.iheart.com/podcast/Bill-Cunningham-20785499/episode/sunday-night-live-w-billy-cunningham-28415061/
      Sorry, folks! This will get you to the right one. Rogue Spooks, Dick Morris.
      100.00 mark or listen to full show.

      • Charley Sturt

        Now, one of the things that I have learned about Hillary Clinton is that one of her heroes, her mentors was Saul Alinsky. And her senior thesis was about Saul Alinsky. This was someone that she greatly admired and that affected all of her philosophies subsequently.
        Now, interestingly enough, let me tell you something about Saul Alinsky. He wrote a book called, “Rules for Radicals.” On the dedication page it acknowledges Lucifer, the original radical who gained his own kingdom. …
        This is a nation where every coin in our pocket, and every bill in our wallet says, “In God We Trust.” So, were we willing to elect someone as president who has as her role model somebody who acknowledges Lucifer? Think about that.

        There’s a lot to unpack here. It is true that, in the front of his book, Alinsky does acknowledge Lucifer in what could be read, in a sort of positive way:

        Saul Alinsky’s dedication to, “Rules for Radicals” ;
        [Lest we forget at least an over-the-shoulder acknowledgment to the very first radical: from all our legends, mythology, and history (and who is to know where mythology leaves off and history begins — or which is which), the first radical known to man who rebelled against the establishment and did it so effectively that he at least won his own kingdom — Lucifer.]

        https://www.washingtonpost.com/news/the-fix/wp/2016/07/20/hillary-clinton-saul-alinsky-and-lucifer-explained/?utm_term=.1107d6e6caee

        Was Saul a stooge for Lucifer, Satan the devil? Hillery for Alinsky? [And the rest]? AKA, as in the original Gilligan’s island, theme song.
        You be the judge, not Seth, Gina. Rich!
        https://www.youtube.com/watch?v=cfR7qxtgCgY

        Greg,
        You just cant make this stuff up! Or can you Greg? Deep creep psyops psycho’s!

        Maybe Clapper will run his trapper on this subject when he speaks to his boss’es, bought and paid for media stooges? But then, the media
        talking heads should know by now that the American sheeple have been sheared by this liar so many time’s now, to ever believe his clap trap bull Shiite!

    • Russ McMeans

      Thanks for the link! I’ve got the iHeartRadio app so I’m there. Turn yer expensive smart phone into a radio folks. Yer eyes need a screen time break. Plus you can get to work while receiving your PHD in conservative thought. It’ll make ya a smart ass.

    • Just The Facts

      Paul, I am finding the same response from the sleeping general public when the subject of weather manipulation is brought up as the response to chemtrails over the last twenty-five years. If these sheeple can’t admit to aerial spraying which is visible to them, they will never acknowledge radio and microwaves that are invisible. I often wonder what these same people will think and say when the whole system changes for the worst and they find themselves living in third world poverty. How will they explain it and WHO will they blame. I bet it will not be themselves when the hand wringing begins!

  8. MAL

    Hi Greg,
    Pyonyang is Russia’s and China’s cold war blunder. It’s an economic basket case run by a psychopathic little tyrant. It offers nothing to it’s benefactors for the patronage it receives. Both would benefit immensely from the economic power of a united Korea. It makes perfect sense that Russia and China would be content to let America shed it’s blood and treasure to undo their mistake. The United States, Russia and China conducted hundreds of missile and bomb tests to develop ICBMs at a cost of billions over decades. I don’t believe North Korea did this on their own. They can’t even feed themselves. I believe they were given lots of help. Perhaps they even got help from our own intelligence agencies. Did the missile guidance technology Clinton sold to China end up in North Korean hands? Were they given designs for miniaturized warheads?

    • Russ McMeans

      Spot on Mal. This mess is in our lap now too.

  9. dachsielady

    Thank you for explaining in detail what the hurricane damage in Houston means. I guess I did not have a clear enough understanding because what I saw of newscasts over the web from mainstream media seemed to be dramatizing and manipulating their coverage and utterly failed in giving good solid objective information on the current situation from the people there during the event. All the MSM is going to do is use the crisis to try to gain viewership.

    I received requests from donations from about six organizations but I am leery of donations collections when we do not have a clue as to how the money is going to be spent, and there can be abuses and thefts of funds in disorganized crisis situations like this. Also I suspect many of these donation collections are not tax deductible, and there will be abuses and thefts of donations.

    It would seem best to try to get the displaced people back into their abode in the fastest way possible. Clean up and clear out of the flooded houses and apartments needs to be accomplished in the fastest most efficient way possible to get the residents back home. Also it would seem to be a good idea to pay the able bodied victims for clean up and fix up work that will be widely available. That would be better than just having able bodied people just sitting in shelters. I agree with your comments about help going first to U.S. citizens.

    Regarding that denial of a FOIA request based on “lack of public interest” , there is a very recent legal ruling that does appear to impact that absurd denial.

    http://dailycaller.com/2017/08/31/judge-orders-fbi-to-make-details-of-clinton-email-probe-public/

    “Judge Orders FBI To Make Details Of Clinton Email Probe Public
    Photo of Jack Crowe
    Jack Crowe ”

    The people of the USA have lost total trust and respect for the FBI and the DOJ. We wonder why those swamps have not been completely drained.

  10. sean

    Greg, Sorry for being off topic BUT did you see the attempted assassination of Trump?
    http://www.whatdoesitmean.com/index2372.htm

    • JMiller

      Was not an assassination attempt.

  11. (Rev) Andrew de Berry

    Another great news wrap up Greg. Thank you for reminding us just how AWFUL are and will be the consequences of Hurricane Harvey. Already over here in the UK the Harvey ‘story’ is slipping behind the trivia of our Brexit negotiations which are already pushing our politicians into irrelevant navel gazing.

  12. John

    Wow. You really presented a deep analysis of the Houston disaster clearly and concisely, especially regarding the “ripple effect” it will have throughout the country. My compliments on your excellent presentation. I will forward to some friends and encourage them to watch as well.

    • Greg Hunter

      Thank you John!
      Greg

    • Russ McMeans

      Me too John! Sharing with friends and even enemies is a good thing.

  13. Robert Dziok

    Here are two important facts to keep in mind why the West REALLY wants war and “Regime Change” with North Korea. Putin himself has pointed this out and they are mentioned in various reports such as given on YouTube.
    1. North Korea doesn’t have Western controlled (Rothschild) banks.
    2. North Korea has land full of TRILLIONS of wealth in minerals not yet mined.

  14. pat the rat

    Have you seen the cost of flood insurance! The price you pay monthly is outrageous. I could not pay it to much money, try sewer back up insurance instead. Ten thousand is better then nothing. You have to tell your insurance agent that you want it or he won’t sing you up for it.

    • Frederick

      Rat wouldn’t the price depend on your risk level i.e. oceanfront greater than a mile inland

  15. Kraig

    Love your passion. Spot on Today. Thanks.

  16. Russ

    And in other old news in which the public is uninterested …
    “New Evidence Reveals Comey Exonerated Hillary Before Key Witness Interviews”
    http://www.zerohedge.com/news/2017-08-31/new-evidence-reveals-comey-drafted-statement-exonerating-hillary-key-witness-intervi

  17. Tad

    Homes are worthless. Fuel to run Houston’s economy, ironically, at depressed levels.
    Banks extremely vulnerable. Possibly the first in a long line of Black Swans.

    Whether Houston and surrounding environs survive might depend on a Trump-declared
    debt default across all asset classes. Or trillions are throw at those without jobs and flood insurance. Without saying, goes government funding for rebuilding energy infrastructure.

    Actually, I’m expecting a mass exodus from Houston for those that can afford so.

    My guess is they have about two weeks or less to finalize their grand plans. Perhaps
    serendipity or chance has eclipsed the North Korea, Russia, and China stories–for better or worse.

    Do we finance rebuilding America or finance war machinery and the mistaken belief that conventional wars with evildoers can be realized over long periods. You know, like 13 years in Afghanistan.

    • Frederick

      I think ” worthless” may not be accurate Most can be renovated I believe

  18. Larry White

    I did not realize this until recently, but Yale School of Management not only has a blog on systemic risk, they offer a masters degree in the study of it:

    https://lonestarwhitehouse.blogspot.com/2017/09/systemic-risk-blog-yale-school-of.html

    Seems like if Yale takes this problem seriously, so should we.

    Larry

  19. David

    Greg,
    Really, The Judge needs to go to a Rehab Camp to properly adjudicate the rule of law re:
    Sherriff Joe!
    From my Little Chair