by Peter Schiff, Schiff Gold:
While the total annihilation of the Francis Scott Key Bridge in Baltimore probably isn’t a “Black Swan” big enough to trigger a global collapse, it adds potent fuel to several fires in an already fragile global economy.
Broad expectations are for most of the economic fallout to remain local to the surrounding area and Mid-Atlantic states, with Maryland alone estimated to lose $1 billion in value from the disaster. Most economists don’t expect national GDP to take any significant hit, despite the local challenges — but as Maryland’s Senate President Bill Ferguson posted to X after the crash of the Dali: