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Warren Buffett warns of natural or manmade 'megacatastrophe,' and says our losses will be huge
ERIN BRODWINFEB 23, 2019, 11.22 PM
Bill Pugliano/Getty
"When such a megacatastrophe strikes, we will get our share of the losses and they will be big - very big," Buffett wrote.
Full article ;
https://www.businessinsider.in/Warr...-losses-will-be-huge/articleshow/68131555.cms
ERIN BRODWINFEB 23, 2019, 11.22 PM
- Warren Buffett released his annual letter on Saturday.
- In it he warned about the prospect of 'The Big One' - a major hurricane, earthquake, or cyber attack that will 'dwarf hurricanes Katrina and Michael.'
- Although he said such a disaster could occur tomorrow or in decades, he warned that it was inevitable and losses would be 'very big.'
- Watch Berkshire Hathaway trade live.
"When such a megacatastrophe strikes, we will get our share of the losses and they will be big - very big," Buffett wrote.
Full article ;
https://www.businessinsider.in/Warr...-losses-will-be-huge/articleshow/68131555.cms
You should take 25 years policy and the amount should be atleast 10 -12 times your annual income. So you will get coved till 65 years and by that time you will have accumulated so much wealth that you won’t need any term insurance....
But make sure you invest serious money in shares or equity mutual funds so that your wealth is built in next 25-30 years....
Any insurer like ICICI Prudential,LIC or HDFC Life insurance should be fine.
Smart_trade
But make sure you invest serious money in shares or equity mutual funds so that your wealth is built in next 25-30 years....
Any insurer like ICICI Prudential,LIC or HDFC Life insurance should be fine.
Smart_trade
India Risks Fresh Bad-Debt Pile Up as Weak Banks Resume Lending
https://www.bloomberg.com/news/arti...bad-debt-pile-up-as-weak-banks-resume-lending
Indian central bank Governor Shaktikanta Das’s decision to allow some weak state-run banks to resume lending is a “short-sighted” approach in Oxford Economics Ltd.’s view.
The decision risks building up bad debts with renewed vigor, Priyanka Kishore, head of India and Southeast Asia economics at Oxford, wrote in a note.
Das, who took over as Reserve Bank of India governor after Urjit Patel resigned in December, has eased curbs on weak state lenders to support credit and economic growth ahead of a general election starting in April. Of the 11 banks on whom tough restrictions were placed since 2014, five have recently been allowed to exit the regulator’s so-called Prompt Corrective Action sanctions.
“The short-term palliative comes at a long-term cost," she wrote. "Pushing back full resolution of stressed bank balance sheets is only likely to prolong India’s investment malaise."
India already has the world’s worst bad-loan ratio. Weakness in India’s banking industry prompted Prime Minister Narendra Modi’s government to inject record amounts into state banks. Nevertheless, soured loans have contributed to a nearly $200 billion pile of zombie debt that has curbed investment by businesses.
Banking Stress
Italy, India have the worst bad loan ratios among the top 10 economies
“With bad debts concentrated in the industrial sector, weak public sector banks are likely to continue to limit their exposure to these entities, which, in turn, should keep investment growth trapped in the low double digits and cap India’s growth well below the desired 8 to 9 percent,” Kishore said.
https://www.bloomberg.com/news/arti...bad-debt-pile-up-as-weak-banks-resume-lending
Indian central bank Governor Shaktikanta Das’s decision to allow some weak state-run banks to resume lending is a “short-sighted” approach in Oxford Economics Ltd.’s view.
The decision risks building up bad debts with renewed vigor, Priyanka Kishore, head of India and Southeast Asia economics at Oxford, wrote in a note.
Das, who took over as Reserve Bank of India governor after Urjit Patel resigned in December, has eased curbs on weak state lenders to support credit and economic growth ahead of a general election starting in April. Of the 11 banks on whom tough restrictions were placed since 2014, five have recently been allowed to exit the regulator’s so-called Prompt Corrective Action sanctions.
“The short-term palliative comes at a long-term cost," she wrote. "Pushing back full resolution of stressed bank balance sheets is only likely to prolong India’s investment malaise."
India already has the world’s worst bad-loan ratio. Weakness in India’s banking industry prompted Prime Minister Narendra Modi’s government to inject record amounts into state banks. Nevertheless, soured loans have contributed to a nearly $200 billion pile of zombie debt that has curbed investment by businesses.
Banking Stress
Italy, India have the worst bad loan ratios among the top 10 economies
“With bad debts concentrated in the industrial sector, weak public sector banks are likely to continue to limit their exposure to these entities, which, in turn, should keep investment growth trapped in the low double digits and cap India’s growth well below the desired 8 to 9 percent,” Kishore said.
This weekend's solar storm is nothing next to what's hit Earth before
A solar flare and coronal mass ejection from the sun this week will lead to a northern lights show Saturday, but we're overdue for a more powerful blast.
The tail end of a solar storm that erupted from the sun earlier this week is expected to smash into Earth's magnetic field this weekend, making the aurora borealis (also known as the northern lights) visible as far south as Chicago.
It's the first bit of exciting space weather we've had in many months as we're in the calm period at the end of the current 11-year solar cycle. The smallish solar flare and associated coronal mass ejection that erupted Wednesday also pale in comparison with far stronger and more disruptive blasts that have hit us in the past and almost certainly will again in the future.
Perhaps the most famous magnetic storm is the so-called "Carrington Event" in 1859. The storm came at the dawn of our modern technological era and all but knocked the young telegraph system out of commission temporarily while lighting up skies with colorful aurora as far south as current-day Belize and Thailand.
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We've seen powerful solar storms in the modern era. Most recently, an X-class solar flare killed a satellite and caused a 12-hour blackout in parts of the northern US and Ontario on Halloween in 2003. That was the strongest directly measured flare so far. Another in 1989 caused a long blackout in Quebec, messed with sensors on the space shuttle and caused a mini-panic that a nuclear attack might be underway. Still, the power of the 1859 event likely dwarfs these more recent storms.
But it turns out the Carrington Event might not even mark the far end of the spectrum for how intense a solar storm can get.
Earlier this month, a report appeared in Proceedings of the National Academy of Sciences saying it has evidence of a solar storm around 660 B.C. which, along with a previously known event in 775 A.D., is likely to have been far stronger still.
Both events could have been 10 to 20 times more powerful than the Carrington Event that lit up the globe with aurora and disabled communications.
In other words, although the sample size is very small, history seems to tell us to expect a mega solar storm about once per millennium. And if the Carrington Event wasn't the big one for the past thousand years, as the data also seems to show, we're actually far overdue for a massive blast from the sun.
Link:
https://www.cnet.com/news/this-weekends-solar-storm-is-nothing-next-to-whats-hit-earth-before/
A solar flare and coronal mass ejection from the sun this week will lead to a northern lights show Saturday, but we're overdue for a more powerful blast.
- BY
- ERIC MACK
The tail end of a solar storm that erupted from the sun earlier this week is expected to smash into Earth's magnetic field this weekend, making the aurora borealis (also known as the northern lights) visible as far south as Chicago.
It's the first bit of exciting space weather we've had in many months as we're in the calm period at the end of the current 11-year solar cycle. The smallish solar flare and associated coronal mass ejection that erupted Wednesday also pale in comparison with far stronger and more disruptive blasts that have hit us in the past and almost certainly will again in the future.
Perhaps the most famous magnetic storm is the so-called "Carrington Event" in 1859. The storm came at the dawn of our modern technological era and all but knocked the young telegraph system out of commission temporarily while lighting up skies with colorful aurora as far south as current-day Belize and Thailand.
.
.
.
.
.
We've seen powerful solar storms in the modern era. Most recently, an X-class solar flare killed a satellite and caused a 12-hour blackout in parts of the northern US and Ontario on Halloween in 2003. That was the strongest directly measured flare so far. Another in 1989 caused a long blackout in Quebec, messed with sensors on the space shuttle and caused a mini-panic that a nuclear attack might be underway. Still, the power of the 1859 event likely dwarfs these more recent storms.
But it turns out the Carrington Event might not even mark the far end of the spectrum for how intense a solar storm can get.
Earlier this month, a report appeared in Proceedings of the National Academy of Sciences saying it has evidence of a solar storm around 660 B.C. which, along with a previously known event in 775 A.D., is likely to have been far stronger still.
Both events could have been 10 to 20 times more powerful than the Carrington Event that lit up the globe with aurora and disabled communications.
In other words, although the sample size is very small, history seems to tell us to expect a mega solar storm about once per millennium. And if the Carrington Event wasn't the big one for the past thousand years, as the data also seems to show, we're actually far overdue for a massive blast from the sun.
Link:
https://www.cnet.com/news/this-weekends-solar-storm-is-nothing-next-to-whats-hit-earth-before/
If you click on one of the links in above the article....
We aren't ready for a solar storm smackdown
From CNET Magazine: The sun is constantly sending out megatons of charged particles that could crash the world's electrical grid. Here's what we can do about it.
JUNE 14, 2018 5:00 AM PDT
One hundred fifty-nine years ago, our sun belched out a sea of charged particles aimed at Earth. It sped toward us at millions of miles per hour, walloping the planet hard enough to addle the world's telegraph systems and bring the northern lights as far south as Jamaica.
Damage from the solar storm, called the Carrington Event, was pretty limited — chiefly because the world didn't have a lot of very long wires that are susceptible to disruption. But that was then, and a massive solar storm will come our way again.
.
.
.
.
.
The stakes couldn't be higher.
"If you think what would happen if the stock exchange was taken offline for a week or month or if communications were down for a week or a month, you very quickly get to a point where this might be one of the most important threats the nation faces, bar none," O'Sullivan says.
"It's not one we can negotiate a settlement around."
Link:
https://www.cnet.com/news/we-arent-ready-for-a-solar-storm-smackdown/
We aren't ready for a solar storm smackdown
From CNET Magazine: The sun is constantly sending out megatons of charged particles that could crash the world's electrical grid. Here's what we can do about it.
JUNE 14, 2018 5:00 AM PDT
One hundred fifty-nine years ago, our sun belched out a sea of charged particles aimed at Earth. It sped toward us at millions of miles per hour, walloping the planet hard enough to addle the world's telegraph systems and bring the northern lights as far south as Jamaica.
Damage from the solar storm, called the Carrington Event, was pretty limited — chiefly because the world didn't have a lot of very long wires that are susceptible to disruption. But that was then, and a massive solar storm will come our way again.
.
.
.
.
.
The stakes couldn't be higher.
"If you think what would happen if the stock exchange was taken offline for a week or month or if communications were down for a week or a month, you very quickly get to a point where this might be one of the most important threats the nation faces, bar none," O'Sullivan says.
"It's not one we can negotiate a settlement around."
Link:
https://www.cnet.com/news/we-arent-ready-for-a-solar-storm-smackdown/
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