5 years agoFrom Monday's Mad Money:
If you want to talk about the themes that dominated today's session before this North Korean missile, Harvey's just not one of them. Instead, we got some very specific data points that colored the action, the biggest word being that Apple may be launching its new iPhone as soon as September 12. That's much earlier than Wall Street had expected.
Below: Brief video clip. More here from Cramer about the ripple effect on other stocks.
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The first and only real priority at this time is saving and preserving human life. The numbers and statistics will certainly come later. But right now numbers don’t matter. Statistics don’t matter. It’s an overwhelming climactic event as we hold our collective breath and pray for all those in the storm’s path and the path of the fast-moving water that is destroying lives, homes and just about everything in its path.
Whether Apple announces new iPhones on September 12th or some other date really isn’t important. It’s just a fact, a date, something we can actually know while so much is unknown about the events in Texas.
“Other researchers say that we are looking at the issue entirely the wrong way.
Regardless of the human impact on climate change, indirectly making Harvey worse – they believe the real human contribution to the catastrophe is far more simple and straightforward.
“The hurricane is just a storm, it is not the disaster,” said Dr Ilan Kelman, at the Institute for Risk and Disaster Reduction and Institute for Global Health at University College London.
“The disaster is the fact that Houston population has increased by 40% since 1990. The disaster is the fact that many people were too poor to afford insurance or evacuate…Climate change did not make people build along a vulnerable coastline so the disaster itself is our choice and is not linked to climate change.”
I think that verges on the pompous, but it does raise some interesting points, especially about the poorer inhabitants of Houston and the truly profound disaster this must represent for many of them.