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

By Greg Hunter’s (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 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.

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After the Wrap-Up: 

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

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    • 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 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