Maysak continues towards Philippines; Damage near $1 Billion still predicted

Maysak is not as intense as yesterday, but is still an impressive and powerful storm at 130kts/150mph/240kph:

Forecast track has been pretty steady to hit the northern Philippines island of Luzon in a bit over three days:

On this track, and using the JTWC forecast intensity at landfall of 85 knots, the storm could cause upwards of $1 Billion dollars in damage.  For perspective, that is about 0.3% of GDP, or the equivalent of a $40 Billion dollar storm hitting the US.  That is about the same damage as Hurricane Ike, which hit Texas in 2008, and is the third most expensive storm in US history.  The Philippines has been hit be several intense storms the last few years, such as Haiyan in 2013 and Bopha in 2012 – in fact they have had 6 disasters that, in GDP equivalents, would have been worse than Hurricane Andrew, just since 2010.  Bad Luck, or changing climate ?

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