Japan Quake World's Costliest Natural Disaster

The Japanese government says the cost of this month's devastating earthquake and tsunami may reach $309 billion, making it the world's most costly natural disaster. The disaster even tops the vast damage that was caused by Hurricane Katrina. The insurance industry estimates Katrina caused around $125 billion worth of damage. The damage total could actually go higher because the government's estimate did not include the possible wider effects on the country's economy, such as reduced factory production caused by planned power outages, or the effect of nuclear radiation leaks in the nation's food and water supply. There has already been declared a shortage on the iPad 2. The effects on the US are still unknown.

http://www.voanews.com/english/news/asia/east-pacific/Japan-Quake-Is-Worlds-Costliest-Natural-Disaster-118504664.html