CBS wakes up to hurricane season

Ken Shepherd of the Business & Media Institute wonders why CBS News’ Sunday night broadcast had a story about a hypothetical hurricane that might cripple the U.S. economy.

Shepherd wrote, “Nearly two months into a quiet hurricane season, CBS’s Michelle Miller alarmed viewers of the July 30 broadcast with ominous warnings of a ‘long overdue Northeast hurricane’ that ‘could devastate the region and cripple the U.S. economy.’

“Invoking the ‘Long Island Express’ hurricane of 1938, Miller warned that as devastating at that storm was in lives lost and property damage, the economic hit today would be much worse, as ‘real estate values from Maryland to Maine are among the highest in the nation.

“Even so, later in her story, Miller conceded that the economic forecast assuming the hypothetical worst case scenario was far from unanimous. ‘Opinions are split on whether the insurance industry and the U.S. economy could withstand a $200-billion blow,’ she conceded.

“Yet Miller failed to include a sound bite from an economist or finance expert who explained why he or she thought the economy could weather the aftermath of a hurricane slamming Long Island.

“Miller also left out recent history, which suggests the economy could recover quickly after a hurricane – perhaps even coming back stronger.”

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