Argosy University Blog

Hurricane Sandy's Effect on the US Economy

Hurricane Sandy is one of the most costly natural disasters in US history. According to Eqecat, it is estimated that the American economy will lose up to $50 billion due to the superstorm. The economy is likely to be affected in a number of ways:

Physical Damage by Hurricane Sandy
Physical damage in households, business premises, and public infrastructure will cost the US financial state up to $30 billion. Several buildings have been destroyed as well as roads, rails, and sewage and water systems. Power outages have also been widespread in impacted areas due to destruction of power lines.

Reduction of business activity
Physical damage to infrastructure has slowed business activities. The food industry, for example, has experienced a snag due to bags of rotting food. The same has been experienced in households that have not been physically damaged by the superstorm but experienced power black outs. Car sales in several cities will be disrupted. Experts have predicted that about 60% of the lost business output will come from New Jersey, New York City and Philadelphia.

To reduce the hurricane's negative impact, Americans are advised to take preventive measures against physical damages. They should ensure that they know their surroundings. For example, they should identify nearby dams and levees that might pose a hazard and move items to safer places. People are also urged to know the elevation level of their property in order to keep items at risk of damage in safe places.

According to Mark Zaindi, a leading economist at Moody’s Analytics, the outcome of the hurricane on the US economy is likely to rise higher than the initial estimate once the actual damages and repair costs are accurately documented. The economist adds that the time taken for the economy to revive depends on when power is restored since businesses cannot operate without it. He concludes by saying that if power takes longer to resume normal services, then the economic consequence will be more costly.

As terrible as superstorm Sandy seems to be, economists say that the economical effects will not be as bad as what was experienced during Katrina.

Those affected by the hurricane should not be discouraged because as much as it will incur high rebuilding costs, it will have minimal long-term effects on the economy. With time, the economy will be back up and hopefully, better than before the superstorm.


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Argosy University, Online Programs Professor Honored for Research on the JFK Assassination

Argosy University, Online Programs College of Undergraduate Studies instructor Frank Beckendorf has been awarded the JFK Lancer – Mary Ferrell Promise Award for 2012.

The JFK Lancer – Mary Ferrell Promise Award is given by JFK Lancer Productions and Publications each year in appreciation of an individual’s contribution of new evidence and furthering the study of the assassination of President John F. Kennedy. Beckendorf currently administers several Facebook groups related to the crime and has just finished editing a book by ballistics and blood splatter expert Sherry Fiester. Entitled Enemy of the Truth, the book can be found on Amazon and other major bookstores, as well as the JFK Lancer website. The awards began in 1996 and are named after Mary Ferrell, who is regarded internationally as one of the most knowledgeable and respected historical researchers on the assassination of John F. Kennedy. Her work was so extensive that when she passed away, her donated papers comprised several eighteen wheeler truckloads.

Ms. Ferrell aided many authors and other researchers in their work, and compiled a vast database involving over 8,200 individuals and a detailed set of chronologies. Her skills as an investigator and historian were matched by her ability to educate and stimulate those around her. JFK Lancer’s purpose and website are devoted to carrying on her work and spirit.

“It is an honor to be named a recipient of the JFK Lancer – Mary Ferrell Promise Award,” says Beckendorf. “To be held in the same esteem as the most respected and prominent assassination researchers worldwide is overwhelming.”

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Making the Most of This Holiday Season

The holidays are a favorite time for many, but can also be very stressful when you’re trying to balance family, work and school. It’s easy to feel overwhelmed, but it’s important to take this time to enjoy your self and to make the most of every minute.

Here are some tips that can help you keep things in perspective:

  • Know your priorities – If you make a list of all of the items you’re concerned about and budget time in the coming weeks to complete each one, your schedule will feel less chaotic and more organized.
  • Learn to say “no” – This time of year, there seems to be an endless array of parties and events, but if you feel obligated to take part in everything, you risk spreading yourself too thin. It’s ok to say “no” sometimes if you don’t have the time or the desire to participate.
  • Ask for help – Look at your “to do” list and ask yourself if it’s essential that you complete each item. If not, work with your family and friends to help each other get everything done.
  • Have fun! – The holidays are about spending time with those we love and reflecting on old times. Take advantage of this opportunity to relax and reminisce.

From all of us at Argosy University, happy holidays and happy New Year!

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