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Will Hurricane Sandy Help or Hurt the Economy’s Recovery?

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  • Description

    FBN’s Gerri Willis on Hurricane Sandy’s impact on the economy.

  • Duration 2:25
  • Date

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This transcript is automatically generated

Whole logic estimates 284000.

Homes -- A mere 88 billion dollars when -- half mobile rebuilding efforts though.

Actually help the economic recovery Gerri Willis they would that part of the story I hear arguments on both sides Gerri what do you think.

I -- and it's debatable really I think it's a 12 punch I don't think most people realize that Manhattan is a four billion today economy on it's not alone.

People aren't getting that pay for not coming and and all kinds of money is -- and retail sales off by as much as 3% in November because of the storm.

This really cost twenty billion over five days one city it's because we have always headquarters here.

But in the longer term months and months there's more money that will go into the economy not just homeowners.

Who as we did -- generator -- -- a -- side by.

A -- drive back but also that the federal government is gonna come in here with big time money and look at the stocks.

That are moving higher today we -- -- were actually gonna get a higher open -- you have Lowe's Home Depot Ethan Allen Sherwin-Williams and mean there's.

There's something Weyerhaeuser.

Lennox International I mean all of these names are or part of the rebuilding there were expected to come -- now many market participants are -- illustrated chatter about.

Making -- and making money.

Well this is making bets on what's to come.

-- -- the -- the stock market works -- what's coming in the future natural I I think the 12 punch will take awhile to play out in my view because I think there upfront costs.

And by the way you know we think it's at ten billion to twenty billion right in terms of the damage I appear Murray -- on last night he said -- 35 to forty got billions going to -- -- regularly is under estimated every single time.

I really was what seven billion yes billion that was my estimates became a fifteen billion gallery we are well anxiety -- point Jerry no matter what.

Work is put into recover and -- giving the economy a boost is going to be more than offset by the business lost.

-- -- I I think there -- have a lot of spending but let's keep the mine where that money's gonna come from.

The payment on -- to come out of our pocket I think I it's taxpayer dollars so it just one big circle one big cycle.

Ultimately -- more people be working -- construction people be working to rebuild these homes.

Try to fix these roads the fix these bridges yes.

But it is our taxpayer dollars.

Two point I'd Gerri Willis thank you very much don't miss the well -- report tonight.

At 609 PM eastern time right here on Fox Business --

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