Japan’s Earthquake Impact: Just One-Fifth Of US War Budget For 2011March 14, 2011 9:08 am
This from AIR Worldwide: “Based on currently available information, catastrophe modeling firm AIR Worldwide estimates that insured property losses from the Mw9.1 earthquake that struck Japan on Friday will range between 1.2 trillion JPY to 2.8 trillion JPY. Using today’s exchange rate of 81.85 JPY to the dollar, this translates to a range of between 15 billion USD and 35 billion USD. ”
We have written about the US war budget for 2011: Wall Street And The War In Iraq. “According to the Department of Defense, the US has budgeted 159.3 Billion USD for the wars in Iraq and Afghanistan for the year 2011.”
So there it is – the painful comparison – US Has Budgeted 5 To 10 Times The Total Economic Impact Of The Earthquake For War In 2011.
Statistics Source: AIR Worldwide